81–90 of 118 posts
Earlier quoted context omitted.
Sorry, it was meant to be a bit of fun and I wasn't expecting it to get on HN front page (developer).
How dare you have fun on your website. Hacker News users are super serious, busy, important startup people. You've just disrupted my zen flow for my super productive day.
Looks like the exchange rate didn't fluctuate too much during this time: http://bitcoincharts.com/charts/mtgoxUSD#rg5ztgSzbgBzm1g10zm... I wonder what will happen to the difficulty over the next couple days: http://bitcoin.sipa.be/ Considering the exchange rate remained stable, I expect the difficulty to halve.
> I expect the difficulty to halve. Why would it? Those who have invested in dedicated mining hardware aren't going to switch it off just because the reward has halved. At least not until mining fails to pay for the electricity that goes into it (but I don't expect that will ever happen.)
You mean happen again? Like it did last summer?
Earlier quoted context omitted.
Nobody is, that's why it's usually pissing everyone. A "Party" button might have done a better job.
Some kind of fuse or something to show what was about to happen with a 'stop' button might have been better. I don't think anyone would click a 'party' button.
Earlier quoted context omitted.
This sounds like good business. Any links on getting started? I'm especially curious about the legal aspects like how you report mined-Bitcoin income when you do taxes.
I don't think that the government could tax it, as it's not money :) I'm not a lawyer or anything even close, but if your income is not money, but something else (e.g. potatoes), would that be taxed?
Earlier quoted context omitted.
This sounds like good business. Any links on getting started? I'm especially curious about the legal aspects like how you report mined-Bitcoin income when you do taxes.
I don't think that the government could tax it, as it's not money :) I'm not a lawyer or anything even close, but if your income is not money, but something else (e.g. potatoes), would that be taxed?
Earlier quoted context omitted.
I think that the sustainability issue can be managed with bloom filters etc, but you are correct. Under the current model where the entire block chain must be in the possession of every client, Bitcoin is not remotely close to sustainable. Imagine if, in order to process credit cards, you had to download transaction data for every credit card transaction in the history of credit cards. What surprises me is that the o…
So, what I don't get is why can't I, as a user, just pick how far back I want to go? Why can't some trusted party, like bitcoin.org post a their best guess for the block chain state 10 days ago. Isn't that sufficient to determine with a high level of certainty that I am on the correct branch and that there has been no funny business in the history?
Earlier quoted context omitted.
How dare you have fun on your website. Hacker News users are super serious, busy, important startup people. You've just disrupted my zen flow for my super productive day.
You should read my new blog post and buy it as an ebook (DRM free!) titled "Seven Effective Secrets You Didn't Know About To Not Let Things Disrupt Your Zen Flow For Your Super Productive Day (And Five You'd Forgotten!)". It's even got a forward by someone who had read a Wikipedia article about Alan Kay! It's available on my website (shameless plug) at www.bltzrg-app.me
Earlier quoted context omitted.
So, what I don't get is why can't I, as a user, just pick how far back I want to go? Why can't some trusted party, like bitcoin.org post a their best guess for the block chain state 10 days ago. Isn't that sufficient to determine with a high level of certainty that I am on the correct branch and that there has been no funny business in the history?
Yes, it is, but the whole point of Bitcoin is to not rely on any central entity. Unfortunately, that doesn't appear to be entirely possible if we are to make Bitcoin mainstream.
More to the point, however, is that this isn't really an issue of an authority, but rather an issue of trust. If I for whatever reason decided not to trust Bitcoin.org, someone else could take their place. For instance, I could get my recent state of the block-chain from a pal that I trust to do the actual task of verifying the full chain. I could even pay that person some fee periodically for providing that service. You could probably come up with a distributed, fraud resistant, method of providing recent block chain states where many sources would have to be simultaneously compromised for any attack.
Is it time to haunt eBay for cheap video cards unloaded by miners who no longer find mining worthwhile?
But if you see a deal, by all means grab it.
* Disclosure, I am the community manager for a GPU-centric Bitcoin mining pool
Earlier quoted context omitted.
Where do you get the $0.15/kWh figure from? I am curious, since this seems to make it sound like there is a stable formula for converting kWh's to BTC's. That will of course depend on the exchange rate, but I'd like to see the figures.
http://bitcoinx.com/profit/ Settings: Profitability decline = 1, Hardware Cost = 0, Time Frame (months) = .033333 (1 day), Electricity Cost = $0.15 Profit: -0.56 USD/day For this example (1200MH @ 750W) you need electricity to be My rig (2x7970) does about (1400MH @ 650W) and electricity @ $0.16 is my break even point (Profit: 0.01 USD/day)