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Nintendo Kid posted:0.8 originally made the maximum block size larger than 1 megabyte, which would be needed for any sort of high transaction rate going over 7 per second. also that 7 per second transaction rate only works if everyone using bitcoins is sending them from 1 address to 1 address, no sending the remainder off to a change address, no combining multiple address bitcoin balances to make the needed amount. you have to have exact change+miner's fee in a single address and send it off for that to work. you can set up your exact change addresses in transactions outside of peak hours in preparation of busy times i guess but in the standard usage without setting up exact change addresses prior to use, it works out to be more like 3.3 transactions/second right now.
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Jan 6, 2015 01:57
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PleasureKevin posted:so if we had just like one person mining, what would happen to the transaction time? the various asic miners for sale available for shipping NOW have efficiency ranges of hash/joule that vary, the most efficient at Chinese light industrial electricity rates of about 7 cents/kilowatt hour would be mining bitcoins at a cost of $107/bitcoin with electrical costs alone. At a typical American home electrical rate, you're paying about double that so $214/bitcoin in electrical costs. If you have to pay for cooling as well then that's going to increase the cost paid to mine the bitcoins as well. On top of that the miners are going to want to recoup the cost of purchasing the asics, and not everyone is working with the most efficient hardware, the least efficient asics shipping right now would have an electricity cost of about $225/bitcoin at Chinese light industrial electricity rates, $450/bitcoin US home rate. there are also past generation ones that no longer ship which are a whole lot less efficient too. some people are probably running their asics at home at a loss out of a love of bitcoin, some out of a belief that using the miner as a space heater is worthwile. a lot of those people would probably keep using their miners at a loss, but my impression is that the majority of hashing power is now by the large scale warehouse operations. as for the warehouse operations, maybe they are part of a money laundering scheme and can accept some small loss, but those warehouses are paying between $107 and $225 in asic electrical costs for every bitcoin they mine, with overheads that add additional costs for rent, additional costs for cooling, additional costs for salaries. If the price drops too much, they are going to have to turn off banks of asics. If there were a crash that occurred fast enough to go from all asics making profit on electrical costs plus overhead to no asics making profits on electrical costs plus overhead, then every warehouse operation would shut down at the same time and i don't think the home enthusiasts have enough of the mining power themselves anymore to ever get the frisbee off the roof.
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Jan 6, 2015 08:33
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Samsquamsch posted:The Roger Ver news is loving hilarious. Every single goddamn comment thread on the /r/bitcoin story about it contains "But wasn't he just selling fireworks? Goddamn tyrants" in one form or another. weren't the people who sold him his supplies of explosives also arrested for selling illegally powerful explosives for even agricultural use explosives? not that storing 50+ pounds of explosive reports (upon arrest) would in any way not be a felony, nor the mailing at least 14 pounds of explosive reports through the mail in one package. edit: looked it up, he had purchased 50 pounds, mailed off 14 pounds, the explosive he was selling was Pest Control Report 2000, which contained 1000mg of explosive in it. the manufacturer was found guilty of violating federal explosives laws. fermun fucked around with this message at 20:48 on Jan 7, 2015 |
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Jan 7, 2015 20:40
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 Sarah Jeong will be covering the Ross Ulbricht trial with Forbes, so it won't be covered by their libertarian pro-bitcoin journalist Kashmir Hill. Sarah Jeong does more tech news stuff, here are her past articles http://www.forbes.com/sites/sarahjeong/ Susie Cagle is going to be drawing courtroom pictures for the upcoming Ross Ulbricht trial, she's best known lately probably for this image:  Though she's done other stuff, America in the garbage about Ferguson etc. went pretty viral. She publishes most of her work on medium though https://medium.com/@susie_c
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Jan 12, 2015 04:55
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The first of the Forbes Silk Road articles is up, just a recap of things before the trial starts tomorrow. http://www.forbes.com/sites/sarahjeong/2015/01/12/the-dread-pirate-roberts-on-trial/
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Jan 12, 2015 23:59
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Ripoff posted:
silk road trial courtroom sketches by susie cagle as part of the forbes coverage (there are more and a bunch will be turned into full illustrations, these are just sketches taken during the trial)    
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Jan 13, 2015 20:59
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Sweevo posted:using ross's computer from ross's house? very misleading!!!!!! ross only used his laptop that he managed silk road from in a coffee shop down the street from where he lived and at his local library branch.
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Jan 13, 2015 23:48
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Krinkle posted:I googled margin call twice. I think I got it now, but who told him to sell his bitcoin, cementing his losses, and get the gently caress out? I thought bitcoin was "be your own bank"? Who can margin call someone with bitcoin? the one bitcoin exchange that allowed trading on margin, bitfinex, required you secure your options with USD. he had to send bitfinex USD and if he ever lost more than that, they'd call it and take all his usd, they also took 5% off the bat (as opposed to their normal trade cut of 1-2%). he effectively bet against people doing short options who also had to secure their bet with USD at bitfinex (who bitfinex took 5% from off the bat), and then when he started losing too much he gave them more USD to secure his bet for longer but couldn't send any more this time.
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Jan 14, 2015 06:22
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right now the most efficient bitcoin mining asic at the best light industrial electricity rates mines bitcoins at ~$140/bitcoin, and the most efficient one only launched ~3 weeks back, so anything at all that was from earlier than that is already in the range where it's losing money on electrical costs to run. If these low prices continue for even a day or two, every one of those warehouse operations is going to have to be turned off and their bitcoins liquidated to keep themselves afloat until they can turn back on.
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Jan 14, 2015 08:45
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there was a typo that someone did on their stupid HOLD thing, and typed it as HODL, which got backronymned to "hold on for dear life" and became more used than hold, so the meme changed to all this stupid poo poo.
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Jan 14, 2015 08:49
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 typ typ
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Jan 15, 2015 02:00
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 Susie Cagle also copied down one of the chat logs, this is the chat log between DPR and the undercover agent made from the library just before his arrest.
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Jan 15, 2015 02:59
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 same but yospos http://www.forbes.com/sites/sarahjeong/2015/01/14/the-dhs-agent-who-infiltrated-silk-road-to-take-down-its-kingpin/
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Jan 15, 2015 06:06
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kalstrams posted:this sequence of posts is surreal i think maybe you haven't seen it, so i'll go ahead and explain. the guy who ran silk road used the name dread pirate roberts as a reference. in the movie/book the princess bride, there is a pirate who goes by the name Dread Pirate Roberts, he's the greatest criminal in the world and even governments fear him, and no one knows anything about him. that turns out to be because it's a shifting identity where somone takes the mantle of being DPR for a while then when they get rich they pass the identity off to someone they can trust and retire. the silk road DPR was making a reference saying that he's a total unknown great criminal that governments fear. the defense is saying he was the original DPR but like the movie one, he passed off his identity to someone else, they say mark karpeles, and then they say that mark karpeles invited him to return, he did for one day and was arrested.
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Jan 15, 2015 23:46
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My PIN is 4826 posted:the grammar in DPR's responses isn't quite perfect, maybe karpeles did write them. ross ulbricht was born and raised in texas then moved to san francisco and lived in a friend's place, he lived in australia for a few months while allegedly being DPR then moved back to san francisco and rented a room under a fake name for a year
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Jan 16, 2015 01:08
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that old bingo wheel was for jury selection, they all get an assigned number sort of thing then picked from the bingo wheel. also there won't be a sarah jeong/susie cagle silk road article tonight they said that there was too much happening today so they are going to do a long one for tomorrow. the trial is on recess until tuesday.
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Jan 16, 2015 01:36
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 courtroom sketch of the picture that the defense showed of mark karpeles
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Jan 16, 2015 02:10
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  i think one of these might have been the picture the defense showed
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Jan 16, 2015 02:20
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silk road busted october 1st 2013 mtgox stopped allowing withdrawals end of january 2014
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Jan 16, 2015 04:21
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http://uk.businessinsider.com/bitcoin-crash-drug-dealers-2015-1 an article about bitcoin drug dealers being sad about losing their profits.
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Jan 16, 2015 19:43
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https://wwwwwwwwwwwwwwwwwwwwww.bitnik.org/r/2015-01-15-statement/ the random darknet shopper has had all their purchases seized quote:On the morning of January 12, the day after the three-month exhibition was closed, the public prosecutor's office of St. Gallen seized and sealed our work. It seems, the purpose of the confiscation is to impede an endangerment of third parties through the drugs exhibited by destroying them. This is what we know at present. We believe that the confiscation is an unjustified intervention into freedom of art. We'd also like to thank Kunst Halle St. Gallen for their ongoing support and the wonderful collaboration. Furthermore, we are convinced, that it is an objective of art to shed light on the fringes of society and to pose fundamental contemporary questions.
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Jan 16, 2015 23:44
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http://www.forbes.com/sites/valleyvoices/2015/01/16/it-took-me-two-clicks-to-trace-ross-ulbricht-to-the-silk-road/ ross ulbricht didn't tumble all of his bitcoins before sending them to his own accounts, so he has his bitcoins provably connected to payouts from silk road addresses to his personal addresses.
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Jan 17, 2015 01:26
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ross ulbricht claims that he owns the wallet that was on his laptop, which he says was made from daytrading bitcoins. he does not claim the silk road bitcoins that were located on the silk road server.
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Jan 17, 2015 01:53
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  Susie Cagle posted some more pictures of her sketch book, the Mark Karpeles one made it to a full watercolor painting but i don't think any others did.
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Jan 19, 2015 04:51
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cubesats are 1.33kg/cube maximum mass, so a 3u gets to have 4kg maximum mass. they are pretty much always just launched with spare mass while setting up an ISS resupply mission or some other low earth orbit satellite. the iss orbits at 415km with an orbital decay of 2km/month, increasing rate of decay as it drops, and anything burns up in less than a week if it gets below 160km so you get 5 years until it burns up generally, unless it's important like the iss is which is reboosted every visit to keep it up there. here's 3 1u cubesats launched from an iss resupply mission. the iss solar panels look rad.
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Jan 20, 2015 01:24
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FrozenVent posted:do someone just open a window and chuck 'em out or something? it's basically that there's a spring-loaded box on the space station, the cubesats are loaded into the box, the box is locked into place in an airlock, the airlock cycles, a robotic arm outside grabs the box and points it away from the station, then hits go on various satellites when given command to.
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Jan 20, 2015 01:54
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 this is real, from apollo-soyuz international mission. it is said to be a prank that was actually full of borscht. some cosmonauts have said russians did get alcohol rations until the late 1990s when they had to stop for the international space station, but supposedly russians actually drank cognac in space, not vodka.
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Jan 20, 2015 03:25
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infernal machines posted:holy loving lol. i like that he also accidentally spells it aliaces too. not just incompetent, but also bad at spelling.
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Jan 20, 2015 09:25
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silk road trial back, new round of sketches drawn up  
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Jan 20, 2015 19:17
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she said she realized she hadn't gotten any sketches of the prosecutor and she won't be there for the full trial so she's grabbing a bunch of everyone to make art from as needed as the trial goes on. here are a few from thursday's session that i dont think got posted in here.   
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Jan 20, 2015 19:23
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prefect posted:whoops. she's a good artist his daughter
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Jan 20, 2015 19:29
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    this was susie cagle's last day that she'll be in the court room sketching so she tried to get a bunch of sketches of everyone present today to use, total of about 40 pages of sketches done over the 4 days in court and sarah jeong will still be covering the story, but all art from now on will be done based on sketches already made so far.
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Jan 21, 2015 02:21
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 http://instagram.com/p/yGd1lixiV9/
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Jan 21, 2015 04:36
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Jan 21, 2015 06:34
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http://twitter.com/susie_c/status/557774586109251585 if people are interested in it, susie cagle is considering selling both prints and original watercolors of the silk road trial art. get in early because laffs on bitcoin-related art can only go up uP UP
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Jan 21, 2015 06:47
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 http://susie-c.tumblr.com/post/78813811969 
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Jan 21, 2015 07:07
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   probably need someone better than me for this to look its best, but quick and dirty color swaps so that greenpos dorian satoshi and amberpos bitcoin symbols
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Jan 21, 2015 08:25
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surebet posted:also 5
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Jan 21, 2015 11:22
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Beast of Bourbon posted:holy gently caress you're not quite as near the other one but pretty close by it too. silk road 2.0 leader defcon worked out of his apartment on florida between 21st and 22nd. sf is quickly getting enough techie drug lords to have a themed sight seeing tour.
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Jan 22, 2015 06:11
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Linguica posted:I can't believe Ulbricht went to the trouble of making such a granular directory structure that he actually had home/frosty/documents/journal/2012/q1/january/week1 the guy thought that he was an important enough figure doing something of historical importance so he kept a journal of all his actions, he wanted it as an in-the-moment reference of his thoughts and actions as he set up the anarcho-capitalist agorist paradise. he thought future children would read "dear diary, i just ordered 6 men killed today" and their hearts would be filled with love and understanding for the pain he must have felt ordering 6 men killed.
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Jan 22, 2015 06:38
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