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Showing 4 of 4 results by murzik
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Board Project Development
Re: $$$ Looking for tech lead for a new crypto
by
murzik
on 26/12/2013, 02:55:50 UTC
What exactly are you trying to create?
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Topic
Board Beginners & Help
Re: Shouldn't the price per coin be closely related to the cost to mine them?
by
murzik
on 17/12/2013, 19:35:23 UTC
Quote from: BlockChainLottery on December 17, 2013, 02:04:50 PM
Simply said, it's the price of the mining gear and the cost of electricity.
The speed of mining 1BTC depends on your hash rate compared to the total hash rate, and of course the difficulty.
For example:
current difficulty: 908,350,862
nowadays you can rent hashing power, should include appr. the price of device + electricity: 10 dollars/GH/year
hash rate: 1825GHz
1BTC/day

So that's 18,250 dollars / 365 = 50 dollars/BTC

edit: 10dollars/Ghash/year is a pre order product expected in February 2014, so with the difficulty changing fast calculations won't hold for long.

So, mining should be extremely profitable? Why would anyone buy BTC for $1400 if he could mine one for $50?
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Board Beginners & Help
Topic OP
Value of BTC, stocks, and gold
by
murzik
on 17/12/2013, 18:49:40 UTC
I see lots of comparisons between BTC, public company stocks, and gold.Value of equities can be estimated by earnings and dividend yield. While prices of commodities like gold and silver are often driven by speculation they have many industrial and consumer uses that should support demand. How would anyone value BTC?
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Topic
Board Beginners & Help
Topic OP
Security concerns around linking coinbase with a bank account
by
murzik
on 17/12/2013, 18:37:36 UTC
I was wondering about security implications of linking my bank account with a service like coinbase.

1) If my account gets hijacked would somebody else be able to withdraw $$$ from my bank, buy BTC, and then transfer coins to his wallet?

2) If somebody steals their database with my bank's account and routing numbers, would they be able to use this info to "clean" my bank account?

Thanks!