a thing I've been wishing I had is some sort of price-vs-difficulty comparison metric - you might think, for example, that the dramatic rise in bitcoin costs would mean that mining had gotten more profitable - but unfortunately, the first wave of "Application Specific Integrated Circuits" are being deployed, and they're not even available for sale yet - so the mining capacity is suddenly and dramatically in the hands of a small group of organizations.
But that hasn't been obvious at all from the various charts online.
Realtime Bitcoin Stats
91–100 of 152 posts
Re: Realtime Bitcoin Stats
#92I have one new appreciation for fiat currencies - they're designed to circulate with a steady rate of inflation. It seems there's a hesitation of spending bitcoins knowing if you just wait a day it will go up, so it's being treated like a precious metal rather than a new way of paying for things. Edit: Thanks for the correction, meant to say fiat currencies tend to 'inflate', not deflate.
I believe you're speaking of CPI-style inflation, or in the case of Bitcoin, deflation.
The rate of money supply inflation of Bitcoin is around 12% at the moment[1]. Until 2025 or so, the supply inflation rate of Bitcoin will be greater than 1%.
I fully expect the exchange rate to fluctuate wildly until a much larger supply of fiat and Bitcoin sits on both sides of the exchange order book. As it stands, a moderately-capitalized trader could throw the exchange rate around at a whim.
Re: Realtime Bitcoin Stats
#93I'm surprised so many people in the tech community have fallen for this Ponzi Scheme. For example, many heard about "some guy bought a $25 pizza with 10,000 bitcoins", but no one has thought about what this means. It means someone now has that 10,000 "coins" (which is close to 2'000,000). This also means someone had this amount (and possibly much more). And, finally, no one questions who posseses the first "coins". T…
I'm not sure how to interpret your argument. It just seems like your pissed of someone else has 2,000,000 dollars.
Re: Realtime Bitcoin Stats
#94[deleted]
Re: Realtime Bitcoin Stats
#95I'm surprised so many people in the tech community have fallen for this Ponzi Scheme. For example, many heard about "some guy bought a $25 pizza with 10,000 bitcoins", but no one has thought about what this means. It means someone now has that 10,000 "coins" (which is close to 2'000,000). This also means someone had this amount (and possibly much more). And, finally, no one questions who posseses the first "coins". T…
>no one questions who posseses the first "coins". This is thoroughly documented https://en.bitcoin.it/wiki/Mining
The whole thing of this is to remain anonymous. Again, no one questions and no one knows how posesses the first coins.
So, this is a free Out of jail card.
Re: Realtime Bitcoin Stats
#96I'm surprised so many people in the tech community have fallen for this Ponzi Scheme. For example, many heard about "some guy bought a $25 pizza with 10,000 bitcoins", but no one has thought about what this means. It means someone now has that 10,000 "coins" (which is close to 2'000,000). This also means someone had this amount (and possibly much more). And, finally, no one questions who posseses the first "coins". T…
I'm not sure how to interpret your argument. It just seems like your pissed of someone else has 2,000,000 dollars.
What pisses me off is people are falling into this Ponzi Scheme.
Re: Realtime Bitcoin Stats
#97Earlier quoted context omitted.
It doesn't bother you that your method counts only unique hash values tested? Or that this value is being used on the site to talk about power expenditure (which is clearly related to total hashes per second, not unique hashes)? You're right that you can compute the N-second average rate easily. But nobody reports the "network hash rate" as such. And since the denominator matters a lot in determining what the number…
It does count only unique hash values, but why should that bother me? People don't randomly generate the same 256 bit number very often (in fact, the probability is so low that it has almost certainly never happened) When I search for "bitcoin network hashrate" on google, the first link is http://bitcoin.sipa.be/ , which does in fact report the N-second average rate. It reports the 7-days, 14-day, and 30-day average…
Duplicate hashes are an issue because of the birthday problem: http://en.wikipedia.org/wiki/Birthday_problem
The chance of two hashes being equal is small but the number of two hash pairs grows exponential to the number of hashes.
Re: Realtime Bitcoin Stats
#98Earlier quoted context omitted.
...or the takeoff ramp for a new technology. I'm not sure, either.
http://blockchain.info/charts/n-transactions There are more bitcoin transactions... but not enough to qualify the 20x increase in value the last three months.
That could be explained by rampant speculation.
Re: Realtime Bitcoin Stats
#99There is currently 11M+ coins in circulation, but the site shows 10,994,200. It seems to lag a few days behind. Hardly "real time".
Re: Realtime Bitcoin Stats
#100Earlier quoted context omitted.
It does count only unique hash values, but why should that bother me? People don't randomly generate the same 256 bit number very often (in fact, the probability is so low that it has almost certainly never happened) When I search for "bitcoin network hashrate" on google, the first link is http://bitcoin.sipa.be/ , which does in fact report the N-second average rate. It reports the 7-days, 14-day, and 30-day average…
Duplicate hashes are an issue because of the birthday problem: http://en.wikipedia.org/wiki/Birthday_problem The chance of two hashes being equal is small but the number of two hash pairs grows exponential to the number of hashes.
No, it's still not an issue. Check out the table for 256 bit numbers in the article you linked. To get a 0.1% probability of even a single collision, you need to generate 1.5e37 hashes. At 10 TH/s, that would take 3e17 years. 10 million times longer than the age of the universe.