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Are there any EcoCoins or environmentally friendly ones, because that'd be funny. i think i know the answer
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Mar 29, 2018 17:39
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Powershift posted:The current hash rate is around 25,000,000,000 gh/s Khorne posted:It scales based on the amount of processing power mining. Meaning, instead of more miners=more capacity, it's more miners=more power per transaction=identical capacity. This is all just so insane. But does a transaction actually add to the energy being used? Or is it just the nature of the things being on all the time. Like because a transaction has to be propagated through all of these boxes it is so costly? So like what would be the difference between two days, assuming the same hash rate and number of miners, where one day has no transactions and the other day has, say, the amount you put up there.
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Mar 29, 2018 17:41
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Because of course there is http://www.ecocoin.us/ ....Through our community and currency network, we will draw attention to environmental issues and support solutions. We will spread awareness of issues and existing solutions such as the efficient use of natural resources. Both small and local changes and larger efforts created by other organizations are necessary and welcome.
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Mar 29, 2018 17:47
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bollig posted:This is all just so insane. But does a transaction actually add to the energy being used? Or is it just the nature of the things being on all the time. Like because a transaction has to be propagated through all of these boxes it is so costly? So like what would be the difference between two days, assuming the same hash rate and number of miners, where one day has no transactions and the other day has, say, the amount you put up there. Miners are always running at 100% to get the block reward. The more power you have, the more likely you are to get the block reward. The entire purpose of the system is, after all, to process transactions. The entire system could be run on a Nintendo NES, it's just an insanely greedy arms race that has run everything up this far. Adding more processing power does not make the system run better or process more transactions. It is just an insane destruction of resources in the name of greed.
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Mar 29, 2018 18:03
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bollig posted:This is all just so insane. But does a transaction actually add to the energy being used? Or is it just the nature of the things being on all the time. Like because a transaction has to be propagated through all of these boxes it is so costly? So like what would be the difference between two days, assuming the same hash rate and number of miners, where one day has no transactions and the other day has, say, the amount you put up there. From my understanding, it is using that energy regardless of whether there are transactions or not, but also from my understanding, the rate of transactions is pretty static.
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Mar 29, 2018 18:05
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I Was The Fury posted:From my understanding, it is using that energy regardless of whether there are transactions or not, but also from my understanding, the rate of transactions is pretty static. The theoretical limit is 7 transactions per second. In practice the limit is about 4 transactions per second. The number of transactions has fallen more than 50% since the price crashed. and is now around 2 transactions per second. https://blockchain.info/charts/n-transactions
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Mar 29, 2018 18:15
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The best frame of reference I've seen mentioned is that Bitcoin couldn't handle the transactions of a sports stadium at half time. That alone should kill off the idea of it ever being a world currency. But somehow that hasn't stopped the libertarian dream. Also Lightning Network is hilariously broken and awful as well. The more I read about it the more confused I am that enough people considered it a good idea they actually implemented it
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Mar 29, 2018 18:16
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The more devices on the chain, the more energy required, right? Isn't that indisputable proof that this is a failure?
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Mar 29, 2018 18:20
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Powershift posted:The theoretical limit is 7 transactions per second. In practice the limit is about 4 transactions per second. The number of transactions has fallen more than 50% since the price crashed. and is now around 2 transactions per second. Lmao Laughing my alt-coins off
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Mar 29, 2018 18:21
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Alpha Mayo posted:Also Lightning Network is hilariously broken and awful as well. The more I read about it the more confused I am that enough people considered it a good idea they actually implemented it
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Mar 29, 2018 18:27
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Powershift posted:The theoretical limit is 7 transactions per second. In practice the limit is about 4 transactions per second. The number of transactions has fallen more than 50% since the price crashed. and is now around 2 transactions per second. lol
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Mar 29, 2018 18:30
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Alpha Mayo posted:Also Lightning Network is hilariously broken and awful as well. The more I read about it the more confused I am that enough people considered it a good idea they actually implemented it I admit I don't understand what all is going on with the Lightning Network, but Wikipedia posted:Also, due to the burdensome nature of the Lightning Network's dispute mechanism which requires all users to watch their full nodes constantly for fraud, a new concept has been introduced called "watchtowers" where trust is outsourced to watchtower nodes to monitor their channel payments for fraud. seems like it is against the purported ideals of buttcoin.
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Mar 29, 2018 18:37
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bollig posted:This is all just so insane. But does a transaction actually add to the energy being used? Or is it just the nature of the things being on all the time. Like because a transaction has to be propagated through all of these boxes it is so costly? So like what would be the difference between two days, assuming the same hash rate and number of miners, where one day has no transactions and the other day has, say, the amount you put up there. We need to stop calling the boxes/programs miners and start calling them guessers. For those who are new to the thread, mining is literally just guessing a random chunk of data and adding it to the transaction information in hopes that when you run everything through a hash (sort of a 1-way compression that outputs data that may as well be random) it spits out a number that matches a particular pattern. All of these thousands of tons of coal are used to guess random numbers. The mystical algorithm is literally a lottery
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Mar 29, 2018 18:45
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I made something: It's kind of beautiful.
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Mar 29, 2018 18:54
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Waltzing Along posted:The more devices on the chain, the more energy required, right? Yes, more devices = more energy used, but that's considered a feature, not a bug. Bitcoin is designed to waste electricity in order to give a big financial cost to anyone trying to mess with the network. So the libertarians see the insane waste of resources as a good thing
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Mar 29, 2018 19:00
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Powershift posted:The theoretical limit is 7 transactions per second. In practice the limit is about 4 transactions per second. The number of transactions has fallen more than 50% since the price crashed. and is now around 2 transactions per second. if every single person on earth only used bitcoins (and you ignore new people being born), each person would be able to do a single transaction every 33 years
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Mar 29, 2018 19:28
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*looks down from throne of Bitcoin* Poor peasant NoCoiners... they can only see what is in front of their face... complaining about minor issues... and here I sit, looking at the future, 2020, my wealth multiplied by 100.... Crypto taken over the world... if only I could make them see the light... the light of Bitcoin.... *sighs*
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Mar 29, 2018 19:36
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QuarkJets posted:Yes, more devices = more energy used, but that's considered a feature, not a bug. Bitcoin is designed to waste electricity in order to give a big financial cost to anyone trying to mess with the network. So the libertarians see the insane waste of resources as a good thing Ah yes. This is good for bitcoin.
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Mar 29, 2018 19:42
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At work one day two coworkers were talking about bitcoin. The one guy was saying how despite the crash he thought it was the currency of the future and would be dominant within a year or two. The other said he doesn't mess with that and only invests in "super safe" gold and silver which "Have never gone down".
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Mar 29, 2018 19:51
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wilderthanmild posted:At work one day two coworkers were talking about bitcoin. The one guy was saying how despite the crash he thought it was the currency of the future and would be dominant within a year or two. The other said he doesn't mess with that and only invests in "super safe" gold and silver which "Have never gone down". Khorne fucked around with this message at 20:04 on Mar 29, 2018 |
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Mar 29, 2018 20:00
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Tether is #14 crypto on coinmarketcap.com Unlike puny cryptos like Bitcoin, Tether has absolute control over the value of their token, by setting it to one dollar. Why is it worth a dollar? Because they said it is! Hopefully they will print more, and instead of propping up failing shitcoins, embrace itself and take over to become the dominant cryptocurrency of the future.
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Mar 29, 2018 20:13
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CSM posted:I made something: It really is beautiful
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Mar 29, 2018 20:25
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Alan Smithee posted:my quesstion is if you are a scam exchange scamming scammers where do you then exit scam for actual money? transaction fees probably
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Mar 29, 2018 20:30
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Comfy Fleece Sweater posted:*looks down from throne of Bitcoin* Mr. sweater, do you think btc is good for the environment? If so, how. Tia for your testimony.
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Mar 29, 2018 21:32
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CSM posted:I made something: I like how everything has already fallen another 5% since this was made. Also, Tether is up to 14th in market cap, up from ~30th
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Mar 29, 2018 21:48
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600 BTC buy wall at 7k, looks like we're hitting it soon e: lol never mind, literally jumped $100 in a second Double Bill fucked around with this message at 22:11 on Mar 29, 2018 |
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Mar 29, 2018 22:09
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Khorne posted:Silver and Gold are both fascinating markets to study. Not to invest in. The state of silver mining right now in particular is bizarre. i'm not particularly aware of these markets. What's bizarre about silver mining right now?
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Mar 29, 2018 22:29
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Beldantazar posted:i'm not particularly aware of these markets. What's bizarre about silver mining right now?
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Mar 29, 2018 22:34
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Bitcoin in the $6000s? Ripple under 50 cents? Litecoin under $100?
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Mar 29, 2018 22:48
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Alpha Mayo posted:Bitcoin in the $6000s? I LOVE sales!
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Mar 29, 2018 22:51
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I see a six. 
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Mar 29, 2018 22:53
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Happy accurate thread title (again... again)
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Mar 29, 2018 22:54
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When I checked the price a day ago, I saw a dude buy 84 bitcoin for $7900 each. Good going, that guy 
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Mar 29, 2018 22:56
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So all the recent pricewalls for bitcoin just lost a lot of money?
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Mar 29, 2018 23:01
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Or they were fake
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Mar 29, 2018 23:01
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necrotic posted:Or they were fake How do people make fake buywalls?
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Mar 29, 2018 23:05
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wilderthanmild posted:How do people make fake buywalls? https://en.wikipedia.org/wiki/Spoofing_(finance)
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Mar 29, 2018 23:08
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you guys said number go up but number not go up! 
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Mar 30, 2018 00:03
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I'd recommend investing in a Honda CBR1000RR over bitcoin.
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Mar 30, 2018 00:09
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| # ? Jun 4, 2024 02:48 |
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Dodd frank made this illegal, trump made it ok?
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Mar 30, 2018 01:21
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