TerraHash shuts down, bitcoin miners upset with 50% refund
TerraHash shuts down, bitcoin miners upset with 50% refund
Terahash - High Performance Password Cracking
Die Hashrate von Bitcoin sinkt, dennoch verfällt niemand ...
1 terahash bitcoin hashrate - Crypto Mining Blog
Microbt Reveals Two Next-Generation Mining ... - Bitcoin News
Litecoin hash rate is 300 terahash, Bitcoin Cash hash rate is 1800 petahash. Bitcoin cash is 6000 times more secure than Litecoin, yet the market cap of Litecoin is higher. Someone hasn't done their sums.
Why Bitcoin will eventually need a constant, positive Inflation Rate - only practical solution for a long term secure network
I'm going to present numbers that show inflation is the ONLY way to secure the bitcoin network in the long term. this problem wont show up for quite a while, until the block reward is negligible...say in the late 2030's early 2040s, but i still think its important to think about early on. Some back ground numbers i will use in my calculations -Visa network handles about 2000 transactions per second = 63B tx/year -All monetary transactions (cash, cc, etc) = 20000 tx/second = 620B tx/year -$400 for a 1 terahash bitcoin mining rig, using about 500W of power -World M2 Money supply is about $60T (US m2 is about $15T) Lets assume bitcoin is the sole world currency. all bitcoins in the world are worth $60T, or about $3M/bitcoin. What is an acceptable cost to gain control of 51% of the network? $10B? no...apple has $80-$100B in just cash on its balance sheet. $100B? no, again see apple's cash. $500B? Defense dept spending is about that per year. Getting there, but i still think it should cost more. somethin in the range of $1T seems right. So we want the ANNUAL miners revenue to be say $1T on a monetary base of $60T (about 1.7%) Can this $1T come from transaction fees alone? no. Here's the numbers on a cost per tx basis. $1T/620B tx per year = $2.90 per transaction. Not feasible at all. Thats more expensive than credit cards, and its a fantasy if people believe the anonymity gains etc will be enough for people to agree to those insanely high fees. Does off blockchain transactions help? no. Again, the miners need to get that $1T somehow. off blockchain just means few tx numbers but higher per tx fees. The total product is still the same. which ultimately means cost per tx is the same whether its on or off blockchain. So transaction fees and/or off blockchain transactions wont help. What is the other solution? i submit that its a constant inflation rate in the form of an increasing block reward. the block reward should not trend to 0 btc per block by 2140, but instead be set at say 1-4%/year of the current number of bitcoins in existence. with 21M coins in 2040, 630K coins per year or 11 coins per block (instead of the less than 1 coin per block that is currently schedule in the bitcoin protocol). At 3% per year, there would be 30M coins by 2053, 50M coins by 2070, 100M by 2093. inflation is still a set 3% per year. what this does is allow us to get to that $1T/yr in mining revenue while still keeping cost per transaction at say less than 10 cents per tx. 3% of 60T = $1.8T...which would be a very secure network. someone realistically going to spend that much to gain 51% of the network? furthermore logistically it would be tough to get that much. math is tech wrong, but about right. using $400/terahash, that would mean 1.8T/400= 4.5B 1 terahash mining units, consuming 2.3 terawatts of energy. 15TW is average world wide use, so that would mean 2.3/15 = 15% of total energy usage goes to securing bitcoin. Again, these are extreme numbers. maybe i'm being overly paranoid, but i don't see anyone else crunching these numbers, and i'm not comfortable with "we'll deal with the problem when we get to it in 20 years)
Bitcoin (BTC) ASIC manufacturer, MicroBT recently revealed its next-generation mining hardware at a virtual launch event on April 17. MicroBT’s forthcoming M30 series of Bitcoin miners, the MS30S++ and the MS30S+, boasts a hash rate of 100 terahashes per second (TH/s).
Bitmain Unveils 2 Bitcoin Miners With Max Speeds Up to 110TH/s Per Unit. The Antminer S19 Pro model with 110TH/s and 29 joules per terahash (J/TH) is 24 trillion hashes per second faster than Microbt’s latest Whatsminer M30S model (86TH/s).
"The costs are low to produce something like a Bitcoin..." False, terahashes of computing power is a finite resource especially when it tends to stick to one cryptocurrency. Blockchain security and trust isn't cheap.
Posts Tagged ‘1 terahash bitcoin hashrate ... Later this year another important event for Bitcoin is going to take place, in about 6 months we are expecting to see the second halving of BTC block reward from from 25 to 12.5 coins. This essentially means that the coins mined will yet again drop in half with many expecting that the price of Bitcoin will compensate by increasing further from ... “Microbt dévoile deux plates-formes minières de nouvelle génération avec des vitesses allant jusqu'à 112 Terahash” 18/04/2020 - Commentaires fermés sur Microbt dévoile deux plates-formes minières de nouvelle génération avec des vitesses allant jusqu'à 112 Terahash [ad_1] La concurrence s'intensifie dans le monde de la fabrication de plates-formes minières Bitcoin. Tout ... Bitcoin miner manufacturer TerraHash has told Bitcointalk forum members that it is shuttering its doors. Customers are angry. Customers are angry. TerraHash shuts down, bitcoin miners upset with ... Terahash ® appliances are up to 35% faster than other rigs built with comparable hardware, as our years of industry-leading experience enable us to perform tuning at all layers to wring out every last drop of performance. If you build your own rig or purchase from another vendor, you're leaving a lot of untapped potential on the table! The Chinese ASIC producer Microbt has announced the launch of the M30S++ miner that processes speeds up to 112 terahash per second (TH/s).
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