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marinecoin is going to the sea of tranquility, buy buY BUY
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Jan 4, 2015 12:01
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| # ? Apr 24, 2024 05:55 |
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decentralization is the future that's why there should be one currency and every single aspect of human existence should be mediated through the one blockchain. it's how we take power back. competition is anathema.
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Jan 4, 2015 12:14
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Soricidus posted:marinecoin is going to the sea of tranquility, buy buY BUY The market on marinecoin is so small, with about 50 bitcoins you could drive the price up to 1 bitcoin on every exchange it's traded on, at which point you would have 1000 of them. So 50 bitcoins at more info: 1 marinecoin per block, one block every 2 minutes, 9,999,999,999 max coins, 97.2% premined by the developer. Basically another pump and dump altcoin. time to get in on the ground floor. Powershift fucked around with this message at 12:28 on Jan 4, 2015 |
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Jan 4, 2015 12:21
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PleasureKevin posted:trading boys is bruce wagner back
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Jan 4, 2015 13:05
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you should post this to /r/bitcoinmarkets, they will hail you as a prophet. you have figured out how to get rich, and quick just omit the premining bit
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Jan 4, 2015 13:19
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Powershift posted:97.2% premined by the developer.
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Jan 4, 2015 14:40
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we're below the 2014 low 
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Jan 4, 2015 14:50
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lol
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Jan 4, 2015 14:50
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any second now it'll go below 260 at which point those who bought at the height of the 2013 bubble will be in the red 
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Jan 4, 2015 14:56
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trucutru posted:Estimated next difficulty: 45,297,836,195 (+13.01%) gently caress yes, we're back to "difficulty increase is larger than the total hash rate was less than a year ago"
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Jan 4, 2015 14:59
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Herman Merman posted:we're below the 2014 low 
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Jan 4, 2015 15:08
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good morning thread, good morning low of... 252-260.
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Jan 4, 2015 15:20
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re: the what if chase made an altcoin talk: what if they took a bunch of servers and had them communicate transactions with encrypted messages? and then they store those transactions in a distributed database? instead of letting anyone mine, you'd need access to this secure network to add transactions. they could call it a debit card.
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Jan 4, 2015 15:29
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http://nypost.com/2015/01/03/afraid-of-loss-espn-makes-fast-cash-on-bitcoin-payment/ Afraid of loss, ESPN makes fast cash on Bitcoin payment By Richard Morgan January 3, 2015 | 1:58am Participants in the Bitcoin St. Petersburg Bowl aren’t exactly bowled over by the digital currency. While BitPay, the so-called PayPal of bitcoin, used the digital currency to pay for its sponsorship of the Dec. 26 game, ESPN converted it to dollars immediately. It apparently didn’t want to risk losing money by sitting on a currency that has had more ups and downs than a Coney Island roller-coaster. The move by ESPN proved to be very smart. Since the game, bitcoin has fallen 3.9 percent, to $314.59. That means ESPN, if it sat on a $500,000 rights fee, it would have lost about $20,000 over seven days. Each of the teams in the game — North Carolina State University of the Atlantic Coast Conference and the University of Central Florida of the American Athletic conference — got paid in cash. Several reports maintained that the conferences had the choice of getting paid in bitcoin or dollars. As the event’s owner, ESPN Events paid the game’s guarantees, just as it paid all other expenses associated with the Bitcoin Bowl’s production. Yet not a single vendor eligible for payments from ESPN received bitcoin in return for its services. But that’s not to say BitPay’s foray into football was all for naught. St. Petersburg merchants were such boosters of the bowl that more than 100 of them geared up to accept bitcoin before kick-off. And, besides, there’s still two years to go.
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Jan 4, 2015 15:33
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A minimum of 1470 Bitcoins has to be dumped on the market just to cover electricity cost (self.Bitcoin) submitted 3 hours ago * by Thireus Unpleasant Truth... 3975 BTC are mined every day --> 24x60/9.06x25=3974 (24 hours x 60 minutes / ~9.06 average time between blocks x 25 BTC block reward) Assuming that the mining farms in China are using the most efficient ASIC miner available on the market, that is to say the Antminer S4, it would cost about 37%* of their mined Bitcoins just to cover the electricity cost at a rate of $0.08/kWh which is the average electricity price in China and India. So everyday, a minimum of 37% of the newly created coins has to be dumped on the market. Which is 1470.75 BTC or 423,576 USD. In an ideal world where everyone uses the most efficient ASIC miner, lives in China or India, and holds all their mined coins (and only dump as much as they need to cover the electricity), a minimum of $423,576 worth of Bitcoins has to be bought everyday on the market to maintain a stable price (no price drops). Which in fact is more likely to be double $423,576 as miners also want to make a profit (by dumping more of their BTC for $). Also, miners are located all around the world (higher electricity rates) and not everyone uses the most efficient Bitcoin miners (Bitcoin miners have to cover for the hardware cost too!). * S4 specs are 2TH/s for 1.38kW/h at a rate of $0.08/kWh, BTC price at $288, difficulty at 40,640,955,016.58 and block reward of 25BTC: (1.38*0.08*24)/(86400/(40640955016.58*2^32/(2*10^12))*25*288) ~ 37%
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Jan 4, 2015 15:48
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you mean to say that bitcoin's value is being destroyed by inflation 
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Jan 4, 2015 15:51
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well this thread was a pleasant surprise to wake up to
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Jan 4, 2015 15:57
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with fair warning that i've yet to put any coffee in me, with the current price it's more like 42%, and i'd be interested in digging up how many miners bfl sent out just to drag that optimal efficiency way, way the gently caress down
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Jan 4, 2015 15:58
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surebet posted:with fair warning that i've yet to put any coffee in me, with the current price it's more like 42%, and i'd be interested in digging up how many miners bfl sent out just to drag that optimal efficiency way, way the gently caress down basically the thing to remember is that if you assume that the miner dumping is causing the decline, then the price is going to get hosed and stay hosed because it's a feedback loop miners dump coins to cover electricity costs, they're dumping more coins than the market can absorb so prices go down which causes miners to need to dump more coins to cover electricity costs because the old number doesn't cover electricity anymore so their dumping increases and so even more bitcoins start flooding the market, and prices go down even faster at some point you might have enough miners leave to slow the cycle or "cheap bitcoins" prompts the USD entering the market to increase but the former means the network gets hosed and everyone who would do the latter bought in long ago 
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Jan 4, 2015 16:09
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i believe in the free market, but i am very upset that market forces are not causing the price to skyrocket, this is an outrage
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Jan 4, 2015 16:31
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 im dead
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Jan 4, 2015 16:44
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Bitcoin Expo 2015 is at the end of this month, pleaaaaase keep tanking http://bitcoinexpo2015.com/
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Jan 4, 2015 16:45
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dear satan, thank you for the belated christmas gift
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Jan 4, 2015 17:06
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surebet posted:In an ideal world where everyone uses the most efficient ASIC miner, lives in China or India, and holds all their mined coins Yes the ideal world where we all live in China or India and use bitcoins
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Jan 4, 2015 17:13
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LongDarkNight posted:dear satan, thank you for the belated christmas gift
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Jan 4, 2015 17:37
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reminder that people took a look at this website http://www.marinecoin.org and said yes I would like to invest
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Jan 4, 2015 17:42
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so under the most ideal conditions and not considering miner profits or transaction fees or bandwidth costs of the price of hardware it costs $150 million per year just to keep the network running. all to do what a single database running on a single computer can handle in transaction processing. what does that make the true cost per transaction?
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Jan 4, 2015 17:43
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this site is nice to watch the buttdump imo http://www.coinsight.co/
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Jan 4, 2015 17:44
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FCKGW posted:reminder that people took a look at this website http://www.marinecoin.org and said yes I would like to invest im the marinecoin yacht gentlemans club http://www.marinecoin.org/#!marinecoin-yacht/c14sa quote:Don't miss out on this opportunity as we are about to create the World's most prestigious and exclusive gentlemen's club. e: im actually everything on this website, its amazing quote:Safari refresh couple of times if you don't see the entire webpage contents below. quote:Marinecoin The Ultimate Life Style Provider. streetlamp fucked around with this message at 17:48 on Jan 4, 2015 |
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Jan 4, 2015 17:46
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FCKGW posted:reminder that people took a look at this website http://www.marinecoin.org and said yes I would like to invest why is marinecoin "mtc?" is it because "btc"
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Jan 4, 2015 17:51
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lol their contact form e: Marinecoin The Ultimate Life Style Provider. Once you gracefully step up for yourself like a man! Things will quickly change in your favour. It is your life, you decide what to do with it unpacked robinhood fucked around with this message at 17:55 on Jan 4, 2015 |
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Jan 4, 2015 17:52
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the infinite is possible at marinecoin
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Jan 4, 2015 17:59
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roger-ver-on-a-stick gives out thermal paper bits https://www.youtube.com/watch?v=_GB-lm2fnMw
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Jan 4, 2015 18:08
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r/rbitcoin has basically become yospos http://www.reddit.com/r/Bitcoin/comments/2rapki/tim_draper_if_i_am_russian_i_would_be_selling/ most of the replies read like they came directly out of this thread
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Jan 4, 2015 18:12
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Ver is on a screen because he is not allowed near the WTC and surrounding area, per his conviction
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Jan 4, 2015 18:13
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DAT NIGGA HOW posted:r/rbitcoin has basically become yospos how much did this guy lost on bitcoin ?
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Jan 4, 2015 18:18
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unpacked robinhood posted:how much did this guy lost on bitcoin ? so he's lost like $10m at least
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Jan 4, 2015 18:24
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Aleksei Vasiliev posted:he won the entirety of the first auction of ~30k coins that were worth ~$640 each at the time. since he won all of them he probably was buying at near-market price (or above market) only on paper, he doesn't really lose anything until he sells his coin for usd
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Jan 4, 2015 18:25
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DAT NIGGA HOW posted:only on paper, he doesn't really lose anything until he sells his coin for usd he lost the entire purchase price the instant the government cashed the check
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Jan 4, 2015 18:28
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| # ? Apr 24, 2024 05:55 |
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DAT NIGGA HOW posted:only on paper, he doesn't really lose anything until he sells his coin for usd so at a minimum, he's lost $10m
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Jan 4, 2015 18:28
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