Because bitcoin need some way to inject new coins into the system eve. Why Hashflare let user reinvest option? On my old laptop I get a little more than hash. And it's calculator more opaque. This mining a real tangible value that is a sort of baseline value store for official currencies that does not exist for other currencies. Difficulty run 40 units — 28th of January
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As long as the computing power of the honest miners is above the one of an attacker, the block chain is safe. I suggest reading the original bitcoin whitepaper - even if you find the economics a bit dubious, as I do, the tech is certainly interesting. And I encourage you to investigate what fractional reserve banking looked like in the days of specie-backed-currency. That's ideal if you're trying to soften shocks across a national economy. An API is available at https: But I still think there is something interesting here..
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By "paper money" do you and the article's author actually mean "fiat money" http: The mining that nearly all? Bitcoin's difficulty adjusted upward at the end ofand the leading digital asset starts the year with more than ten days ahead of heightened difficulty and a slightly slowing hash rate. You can't calculator anything with a difficulty other than trade it. We are ready to offer you one of the most expected device on cryptocurrencies' market — Litecoin miner witch bitcoin be also used for eve cryptocurrencies with Scrypt- based mining algorithms.
I have got an account at Hashflare, but I do not know what is better withdraw o reinvest? The contract is for one year, if spend all year reinvesting never get money. Why Hashflare let user reinvest option? Statsskuld on December 26, , I started to reinvest for about 2 weeks, and then I switched to cashout. The calculation on their own page said ROI in about 60 days if I remember correctly when joining. But if this continues I guess it will turn out to be about days, which I think is acceptable.
I will cashout for some time now before starting to reinvest again. If and When I get my investment back then I will turn on reinvestment "for ever" well ok, for about a year to be more exact.
Good free and easy Bitcoin Faucet thingy: Powered by SMF 1. February 02, , December 21, , December 22, , We are ready to offer you one of the most expected device on cryptocurrencies' market — Litecoin miner witch can be also used for other cryptocurrencies with Scrypt- based mining algorithms. To create it we used all our positive experience in building Bitcoin Am not even sure it will work.
First bit coin and monero uses different algorithm. Every investor knows the incredible volatility of Bitcoin and other cryptocurrencies. With the potential for total loss, investing in Bitcoin isn't for everybody. After all, there's always the possibility it could go Tue, 16 Jan Le scepticisme est clairement de rigueur. Bitcoin has had an amazing year in many respects, including soaring prices, skyrocketing valuation, inclusion in institutional finance, and further recognition among retail investors.
It's more like a purely speculative currency. It's artificially scarce and worth nothing apart from it's perceived value. At least with gold there are many industrial uses for it. You can't do anything with a bitcoin other than trade it. Are there any official currencies that this doesn't apply to? You have to pay taxes and also settle debts in the official currency. That alone gives it more than mere 'perceived value'.
Oh, needing it to buy oil also helps. Holding an official currency gives you the ability to stop the government from putting you in prison for nonpayment of taxes. This is a real tangible value that is a sort of baseline value store for official currencies that does not exist for other currencies.
Power doesn't come from the gun, but from public legitimacy. In the same manner that it would be considered legitimate for someone to defend themselves with a gun. That was a reference to Mao. So, we need a gun store that uses bitcoins.
T-hawk days ago. Governments moved their currencies off the gold standard. Mostly for the self-interest reason of establishing greater control over their currency, often to inflate their way out of debt. Whether a gold or Bitcoin standard is good for the world economy as a whole is irrelevant, since the governments hold the power to implement it or ban Bitcoin and will act in their self-interest.
The tweet graph is meant to correlate with desirable growth in money supply, something Bitcoin needs to be liquid. You can have growth in money supply without inflation. VMG days ago. Somebody can fork bitcoin and change that aspect.
DennisP days ago. He graphs the number of bitcoins over time, which is basically meaningless. If he were to graph the number of transactions, the number of users, or the total value of all bitcoins, he'd get an exponential curve upwards much like the twitter curve.
Weren't "the economists" blamed for the global crisis in the first place? He might be an economist, but he doesn't know anything about monetary history: The economic assumptions underpinning the Bitcoin ecosystem are laughable, and ignore hundreds of years of accumulated understanding of how currencies work with each other. Paper money is about years old. By "paper money" do you and the article's author actually mean "fiat money" http: It was in use as early as 18th century America.
The only thing about "paper money" that I can think of that is about years old is the beginning of the departure from the gold standard http: I was at the Bank of England museum checking out the first "notes" the other day, and they date back to That's a little older than years.
And of course the older things are the better they are. For example, we all now year old medical practices are good and effective whereas recently developed ones suck. Some experimentation is good, without it there would never be any progress at all. Appeal to authority based on the age of ideas is something you can only get away with in religion, astrology, and it seems, economic 'science'.
Sure, there is a large chance that new ideas might fail but you can't simply argue against them because they go against old ideas. The alternative, of course, is that bitcoin takes off, is not banned by governments, and is useful enough to enough people. If that occurs then I expect pretty high returns. Unless you're mining by hand. It's like ranting that people talk about "10mb" files.
Or "gb" or "GB" drives. When they're technically " Ironically - your example speaks against itself. Precision has it's place. I thought this was the common way gibi that is to refer to harddrives in the OS, I thought that that was the reason harddrives were gb when i bought them but only showed up as 93gb on my computer. Everyone except the hard drive manufacturers uses GiB for technical reasons. Hard drive manufacturers use GB for marketing and clarity, but mostly marketing reasons.
It used to be common to speak of sizes in "hard drive megabytes". Eventually, the disk manufacturers won the pointless semantic battle and that went away.
In practice, it matters not in the slightest. Yet another case where "the common way" is wrong and disgusting. Regarding angry visitors, I think it is completely fair if you just inform them of what is going on.
In a way, this is the perfect internet model: I offer my content for free but visitors pay me with cpu cycles. It's superior to the ad-model because it pays according to time spent on the page regardless of who the audience is. It's too bad that it's infeasible because of the very low rate.
Yes, I'm glad someone actually picked up on this. I'm watching Bitcoin with a curious eye, but this really nails a pretty novel and interesting aspect of it. That yes, you are paying the site owner for viewing their site, in a way that is mostly transparent to you and with billing already captured by your power company. I haven't actually run it so I don't know just how badly it thrashes my machine, but assuming that can be worked out, this particular idea is the KillerApp tm of Bitcoing as I see it.
Actually, now that I'm thinking of it, one giant achilles heal: If this really takes off and the mass of the internet uses it, then that means the entire mass of the internet can only be monetized at the set rate that Bitcoins are made.
Which isn't much money. But I still think there is something interesting here.. Why does time spent on the page matter? It corelates to value derived from the page. SO the people I deliver the most value to, I extract the most value from.
I don't see how the time spent on a page correlates to value for the reader. If I read faster or slower than someone else and spend less or more time on the page, it doesn't change the value provided to me by the article. On the other hand, if a site provides more value to a visitor, they are more likely to keep spending more time on the site. I've seen in the last few weeks apparently relevant and polite posts that had been flagged dead[1].
One of these was a post by jashkenas in a CoffeeScrit thread. This one could hardly have been more on topic. Is there a new moderation policy, or is it a bot with a happy trigger? I'd be curious to know the answer to this too - I've seen an increase of "one off" seemingly acceptable posts being flagged dead, and browsing their post history it wasn't cases where they were set to auto-dead. HardyLeung days ago. Javascript is way too slow compared to GPU, by at least a factor of or more.
I wouldn't be surprised if a JavaScript miner was several orders of magnitude slower than that ie. What about using gamers' excess GPU to mine Bitcoins in an installable massively-multiplayer game?
Is anyone trying this? I wonder when will the bitcoin mining viruses appear. Such virus could be quite profitable if it spread widely enough. And easily detectable by owning a laptop that burning sensation isn't a UTI or having fans in your computer harder to tell if you live near an airport.
Since bitcoin mining is rapidly getting uneconomical on non-specialised hardware, if you control a botnet you probably get more money from the usual botnet activies like spamming or ddosing. If you control a massively multiplayer game you probably get more money from the player subscriptions. MicahWedemeyer days ago. I'm amazed at the people drooling over the bitcoins they could make when generating actual dollars seems so much easier, especially once you're assuming such "trivials" as millions of users and pageviews each month.
If you could turn out a bitcoin per day per player, that's massively more than the subscriptions at today's rates. Of course, there's no guarantee that you could do this, and there's no guarantee that today's exchange rates have anything more than blind optimism keeping them afloat, but the idea's not inherently stupid.
There's a lot that a MMORPG company could do with a system which encourages people to stay in-game more than they already do This thread[2] from the bitcoin forum today has some idea of what current hardware can do. It's not possible, forget about it. Then all your numbers kind of point to that being pretty feasible no? Hardcore games are going to care about that kind of numbers.
I think miners also need to download a lot of data initially i think GB. Mining might require network access which has a negative impact on network latency, and a negative impact on most real time MMOs.
Well, a Bitcoin-mining MMO game probably should be free. It would have a larger install-base, and people would be more tolerant of a miner running in the background.
Also, MMO games generally have pretty low graphics requirements to appeal to the widest possible install-base , so a lot of gamers have excess GPU that could be used for mining.
Agreed, it is far from the future of super computing. But it provides an interesting first iteration for a potential future model of income off of websites. You need a year's worth of 3ghz dual core cpu power to make 50 bitcoins. This is some impressive code but not practical. And I don't think visitors are going to like you maxing out their cpu. I know plenty of women who spends hours a day playing casual games, if you embedded a bitcoin miner into a free facebook game you might be able to generate some decent revenue while they play.