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The /r/btc China Dispatch: Episode 8: Special Extended Lunar New Year Edition - 8btc Discusses the Official Release of Bitcoin Classic

Howdy /btc, it’s been awhile! The /btc China dispatch was on vacation this week due to the Chinese New Year, but now your humble correspondent is back with the vengeance with more OC from the Bitcoin Sinosphere.
In this edition of the /btc China dispatch, we look at a thread on 8btc.com announcing the release of Bitcoin Classic to Chinese readers. I hope you guys find the translation informative.
Note that unlike in previous editions of the Dispatch, in addition to the posters’ user names, I have also posted their forum titles in parentheses next to their user names for your reference and possible amusement. All accounts on 8btc.com are ranked based on number of accrued points (essentially upvotes) from, in order of lowest to highest, Noob, Shiphand, Crew Member, Squad Leader, First Mate, Captain and Pirate King. Additionally, some people have custom titles equivalent to Reddit flair.
[OP]
Subject: Bitcoin Classic Officially Released!
Posted by bluestar (Crew Member)
Bitcoin Classic has finally been officially released. You can download it via the link below:
https://github.com/bitcoinclassic/bitcoinclassic/releases/tag/v0.11.2.cl1
Now miners that support Classic can start using Classic to mine blocks. Does anyone know how many miners there are in China who support Classic? I remember a while ago there was someone on 8btc who gave us a tip off, but now there’s no information whatsoever. Has 8btc been abandoned or are the miner’s secretly planning on making a massive move? Any inside info would be appreciated!
You can see the extent to which each version is supported by going to the following page:
https://coin.dance/nodes
[Response 1]
Posted by jb9802 (First Mate)
I would like to call on the miners to complete the upgrade of bitcoin as soon as possible. If we wait for Core we’re going to be killed off by Blockstream, Inc. sooner or later.
[Response 3]
Posted by hempheart (Squad Leader)
My guess is that the miners will support Core. The miners are putting their lives on the line with their investment unlike small time investors. The small time investors will still be able to eat even if they lose all their BTC.
[Response 4]
Posted by yuli7376 (Great Captain of Atlantis)
All us smaller players can do at this point is sit back and watch how things unfold.
[Response 5]
Posted by bluestar (Crew Member)
@hempheart
It doesn’t matter even if they support Classic as the hard fork will only activate once 75% of the hashing power is behind Classic. Once you get 75% of the hashing power, that means that a supermajority support Classic and Core will be nothing but a niche, so there’s no real “winning or losing” when it comes to this vote.
[Response 6]
Posted by copay (Crew Member)
As the name suggests, Classic is a return to Satoshi’s original vision.
[Response 7]
Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain)
@copay
Classic just means classic. What I want to know is whether or not the official release continues to use a 75% threshold for activating a forced hard fork like the beta version, presenting the possibility for a schism in the bitcoin community.
If Classic doesn’t support the 90% 2MB consensus then supporting Classic is basically just like supporting a fracturing of the bitcoin community. I strongly suggest that miners should emphasize first and foremost not dividing the community and boycott any contentious version that forks after less than 90% of hash power is reached.
Pools that support forking at 75% want to divide the community and I advise all miners to leave these pools. It is no longer a simple question of 1MB or 2MB, but rather a question of 75% versus 90%: fork plus schism versus fork with no schism. The issue is about maintaining the unity of the bitcoin community.
To digress a little bit, Bitcoin XT, which has already been abandoned, also sought to hastily fork at 75% and divide the community.
You can find more information on Qt versions here:
http://BitQT.com
[Response 8]
Posted by copay (Crew Member)
@Ma_Ya
What is the big difference between 75% and 90%?
[Response 10]
Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain)
@copay
In the event of a hard fork activated at 75%, there’s a possibility that the remaining 25% of hashpower will hold out.
That is, the hashpower ratio will be 75%:25% = 3:1; at this hashpower ratio there is definitely a possibility that the two coins that result from the fork will coexist and compete with one another. This will result in a splitting of the community and there will be two bitcoins. They will attack one another and claim the other coin is an alt while each saying their own coin is the true bitcoin.
One the other hand, if a fork happens after 90% of hashpower is behind it, the hashpower rate is much higher at 9:1. When the hashpower ratio is this high, the miners working on the 10% chain will need 10x as long to produce a block and they could be attacked by the other 90%, who would only need to send 1/9 of the hashpower to attack the other chain. Therefore it will be difficult for the 10% chain to survive over the long term. Therefore there will be no split in the community.
[Response 11]
Posted by petaflops (Squad Leader)
Awaiting the results.
[Response 12]
Posted by bluestar (Crew Member)
@Ma_Ya
Come on, man. You don’t need to say the same thing twice. It’s not like your response is highly technical.
[Response 13]
Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain)
@bluestar
Four Major Mining Pools Call for Consensus, Reject Hard Fork to Bitcoin Classic
http://8btc.com/forum.php?mod=viewthread&tid=28955
My proposal that Classic needs to support the 90% 2 MB consensus as soon as possible is made in good faith.
Currently Classic does not support the 90% 2 MB consensus and insists on initiating a hard fork at 75% with the possibility of dividing the community, so the major mining pools have come out with a joint statement saying that they do not support it. This joint statement is Classic’s failure. I never would have imagined that their failure would be announced as soon as they released an official version.
The results might be different if the official version had supported the 90% 2 MB consensus and avoided the risk of dividing the community.
[Response 14]
Posed by Qin’s Love (Captain)
Small time investors can only watch from the sidelines.
[Response 15]
Posted by bincoin (First Mate Invincible Speculator in Stocks, Futures, Currencies, Gold, Bitcoin, Goocoin and Agricultural Products)
A solution is out there, which is good. Much better than the unending bluster from Core. Whether you support Classic or not, they’re efficient.
[Response 16]
Posted by jb9802 (First Mate)
@Ma_Ya
The front page of 8btc:
http://www.8btc.com/34454 [Translator’s Note: The headline of the page linked to reads “A Summary of Discussion Regarding the Raising of the Bitcoin Block Size”]
Take a close look. The pools haven’t rejected it, they’re just waiting to see how Core responds. Btcc, who are regarded as diehard core followers said: “if Bitcoin Core still does not consent to raise the block size using this method, then we will very probably need to look for another leading team to implement a hard fork, with an activation period of 12 months.”
  1. Btcc has given Core 1 year (of course I personally think this is too long); if Core does not implement a hard fork then btcc will have to find some other solution.
  2. The fact of the matter is that everyone is waiting for a statement from Core and if they don’t make themselves clear in the next few months then their exit will be inevitable.
[Response 17]
Posted by bluestar (Crew Member)
@jb9802
Honestly I don’t think there’s any need to respond to this guy’s mantra-like posts. Every time I see one of his posts it’s like hitting a brick wall. I’ve already responded to his calls for 90% support many times in the past. It doesn’t matter how logical you are, he’ll just ignore you and if you slip up anywhere in your argument he’ll just dwell on it without letting go. It would be better to wait until he actually posts something interesting before responding.
[Response 18]
Posted by DogeCoin-Keeper (Cosmically Super Awesome Invincible Badass Smart Alert Handsome as Fuck Pirate King Who Is Better Than You in Every Way)
It looks like it’s going to be impossible to raise the block size this way. There will definitely be a simpler way to raise the block size in the future.
[Response 19]
Posted by bluestar (Crew Member)
@DogeCoin-Keeper
Yeah, there’s a simple way. If Core was willing to lead a hard fork it could be accomplished immediately. The problem is they’re not willing.
[Response 20]
Posted by DogeCoin-Keeper (Cosmically Super Awesome Invincible Badass Smart Alert Handsome as Fuck Pirate King Who Is Better Than You in Every Way)
@bluestar
I think that the current situation is actually okay. If BTC relied on only one team to decide its direction then it wouldn’t need to exist.
submitted by KoKansei to btc [link] [comments]

What if you run your uploaded self as a cryptocurrency POW algorithm?

This would reduce the cost of running a petaflop simulation of your brain (potentially thousands of dollars per hour) as people would pay to run you just to make fake money.
Of course you would not be running in real time but as a distributed distorted speed linked to the market value and uptake of the currency.
Pros: If your crypto gains popularity your simulation speed and size can be boosted.
Cons: You will never be real time as your 'frame rate' will be limited to the transaction speed of the crypto which your POW will inherently limit.
Also you will need to improve cryptocurrencies as their own growth ensures they become monolithic over time. Therefore your freedom as an AI will be limited when the size of your blockchain grows beyond desktop processing and storage limitations.
You might also want to spend some time solving climate change as power plants have to be turned off when their cooling systems (often external water supplies) are too hot to do the job.
PS For reference Bitcoin uses 256 times as much processing power as the worlds top super computers (source)
submitted by Arowx to transhumanism [link] [comments]

Izumi3682 Archives

Chinese Smartphone Maker Promises to Outdo Apple With "The Real AI Phone" by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
The proof is in the pudding. We'll see what they come up with. I don't discount what China has to say out of hand. The absolutely staggering amount of technological progress that China has achieved within the last 10 years alone gives me pause. And yes I know they did that by hook or by crook, but the fact remains that China is rapidly equaling and/or exceeding pretty much any technological advance being made by the USA. I also see evidence that China's AI efforts for general consumer use exceed that of the West as well.
But we shall also see what the Apple IPhone X has to offer as well. In any event I see that human civilization is going to make a substantial leap forward in AI and mobile computer processing power going forward from here. A much higher bar has been set. Also while I have this forum, I'd like to pass on this message... PLEASE turn your phone sideways to record stuff--Thank you! --"The rest of the world".
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Superpower India to Replace China as Growth Engine by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
Yes, I said that in my second paragraph.
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Move Over Millennials, Here Comes 'iGen' ... Or Maybe Not by izumi3682 in Futurology


[–]izumi3682[S] 3 points 6 months ago
If you think the so-called "iGen" is crazy, just wait until the children that are now 3 and 4 grow up in a world where they have always known mobiles, VAR and AI. AI in everything, from no more driving lessons to AI assistants to boss around with loud impatient voices.
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Virtual reality breathes new life into African fossils, art and artefacts by izumi3682 in Futurology


[–]izumi3682[S] 2 points 6 months ago
Oh! Try this out! I can't get it to work on my work pc, but that's because it's a work pc. On my home pc and my iphone 7 it works just fine.
https://sketchfab.com/models/1e03509704a3490e99a173e53b93e282
This is just 2D on a screen. The future of VR is going to be absolutely insane. Beyond anything we can imagine.
(I recommend just downloading "Sketchfab" on any pc or mobile you have. An incredible combination of computer processing power and narrow AI.)
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In the Future, Pop Hits Will Be Made by Machines by izumi3682 in Futurology


[–]izumi3682[S] 2 points 6 months ago
For the person, that sounds like a pretty good deal.
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Deep Learning Could Finally Make Robots Useful by izumi3682 in Futurology


[–]izumi3682[S] 2 points 6 months ago
In what year will I see a humanoid robot like say, "Sophia" from Hanson Robotics mixed with a deep learning ability. Oh, and then that "Sophia" robot could have these new-fangled "soft" muscles that are all the news today as well. That would be quite an accomplishment.
But why stop there. How soon until we can use narrow AI and new robotics technology to allow humanoid robots to walk the streets with humans. Would that be OK with everybody? What year will I see that I wonder.
I bet it's all gonna happen in about 20 years or less. So I'll be about 77 years chronologically. I wonder if I'll have a little age-reversing on me by then.
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Make a 3D model of your face from a single photo with this AI tool by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
Could we make motion pictures of anybody in history that was photographed? Imagine, genuine motion picture images of Abraham Lincoln or, ...well I'm sure there are other famous people from after photography's invention, but before motion pictures. But mainly it was Lincoln who popped into my imagination.
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Massive demand will see 5G phones arrive in 2019 says Qualcomm by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
Yeah, that's my point. Apple "steals" everyone else's ideas and perfects them to the point that they are irresistible somehow. That's what Apple does. I'm not saying it's good or bad. I'm saying that's why I trust Apple for my mobile.
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In the Future, Pop Hits Will Be Made by Machines by izumi3682 in Futurology


[–]izumi3682[S] 2 points 6 months ago
What I am about to state was 10 years ago, wildest fantasy. How times have changed.
It's quite simple actually. Our computers can now process stupendous, colossal amounts of "big data". Among that data are our likes and dislikes. Also what all of our songs sound like, what all of our art looks like, how all of our motion pictures and plays and performances are accomplished. Pretty much everything we have written down. And probably tons of other data I can't recall offhand. Also screamingly funny cat videos.
Now the computers that we have use a multitude of clever human ideas like machine learning, convolutional neural networks, and I'm certain some other marvelous methods of collating, analyzing and deconstructing all that data for actionable information. This involves things like identifying edges and light and shadow, word patterns and lots of confusing criss-crossy lines in the diagrams I look at. But I'm pretty sure it knows what it is doing.
Then our computers can use "predictive analysis" to develop models of varying degrees of confidence that are constantly tested against a sort of intrinsic "critic" that says thumbs up or thumbs down based on all that big data and that collating and whatnot.
Then it spits out the "highest confidence" result. Humans experience whatever it is and send their own feedback into the computer, which assimilates any novel data from that human feedback and tweaks its models to eventually precisely push the emotional buttons that make a song "haunting" an art piece "compelling" or videos "screamingly funny".
The AI is not going to get worse at "creativity". It's going to surpass human efforts in short order. Humans will come to prefer AI art to that of inferior "human" art. What kind of world will that be? And that is just in art and stuff. The AI will dominate everything else as well. And believe it or not that is still "narrow" AI. Just wait until we successfully develop artificial general intelligence (AGI). Then we either adapt or die. And in that meantime...
"Humans Need Not Apply".
Here is a computer algorithm using narrow AI-big data-CNN-predictive analysis to model human faces that don't exist in real life. They don't look too bad today. Yes, they need work. But in about 5 years--wow! OMG!
http://alteredqualia.com/xg/examples/eyes_gaze3.html
(Run your mouse cursor over the face to really get creeped out. Click the black space on either side to see others.)
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True, Bitcoin May Become Corrupt. But Banks Already Are. by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
I thought we were trying to move away from this mess. I thought the goal was the dream of Peter Diamandis' "Post-Scarcity" society. But instead we just seem to be adding more confusing layers of crap that enables those in the know to make massive amounts of money on the backs of those not as clever. The 1% persists, the 99% persists to fail.
I certainly look forward to the day when we can put AI inside of our minds and no one can be fooled or tricked or deceived any longer. I bet a lot of people think that making all humans super intelligent would not be such a good idea. It would definitely "upset the apple cart" of business as usual.
But who am I kidding. The 1% will get that AI inside of their minds and the rest of us will be their willing slaves or simply exterminated to get rid of the "surplus population" and make the Earth a nicer place to live for the 1%.
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A billion new low-cost employees from china didn't cause unemployment. Why should some puny robots scare us ? by furyfairy in Futurology


[–]izumi3682 1 point 6 months ago
I think I can sum it up fairly succinctly. The industrial revolution replaced human (and horse) (and oxen) muscle. The AI revolution will replace the human mind. Watch this space in 10 years.
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Massive demand will see 5G phones arrive in 2019 says Qualcomm by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
Wow! 7 years ago was a technological lifetime ago. The convergence of VR, AI and consumer level peta-scale processing power will bring about devices that are as different from the playstation console of today as the motor vehicle is from the horse in that next 7 years!
I got my IPhone 7+ in Sep of 2016. And it was totally slam awesome. But this years iteration of the IPhone is so fantastically advanced over that of my IPhone 7+, that forgive me if I show no control and leap for the next gen with it's enlarged OLED HDR screen, in-built machine learning chip and processing power and capability. Even that creepy perfected facial recognition technology. Not undependable and quirky like the current gen Samsung.
Here is IPhone 7: http://bgr.com/2016/10/21/iphone-7-specs-a10-fusion-processo
Here is IPhone X: https://www.theverge.com/2017/9/13/16300464/apple-iphone-x-ai-neural-engine
I suspect I'm not the only one who can't control myself. And of course in the fall of the year 2018 I shall hopefully be able to get a bit of a discount on my IPhone X trade-in for the next gen of the IPhone.
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Is virtual reality bad for our health? The risks and opportunities of a technology revolution by izumi3682 in Futurology


[–]izumi3682[S] 3 points 6 months ago
Here is what I have to say about VR and its impacts and future.
https://www.reddit.com/Futurology/comments/6itqu4/escape_to_the_future_with_virtual_reality/dj93x8y/
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Massive demand will see 5G phones arrive in 2019 says Qualcomm by izumi3682 in Futurology


[–]izumi3682[S] 3 points 6 months ago
No way man, I'll pay thru the nose for yearly exponential technological advancement. To heck with that 4 year "Playstation" console business model.
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Is virtual reality bad for our health? The risks and opportunities of a technology revolution by izumi3682 in Futurology


[–]izumi3682[S] 5 points 6 months ago
Just wait until we nail resolution and FOV.
https://www.forbes.com/sites/stevenkotle2014/01/15/legal-heroin-is-virtual-reality-our-next-hard-drug/#56dd35961a01
Personally, I'm way looking forward to it. Imma Oculus Rift early adopter. I see what the future is gonna be. I often discuss VR and it's impact and future in my overview.
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Why China Is So Confident by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
This is me about China and why the 21st century will belong to China until the AGI takes over about mid-century.
https://www.reddit.com/Futurology/comments/5pwnyj/china_reminds_trump_that_supercomputing_is_a_race/dcw3qyq/
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Superpower India to Replace China as Growth Engine by izumi3682 in Futurology


[–]izumi3682[S] 9 points 6 months ago
No. India is far far too scattershot politically, technologically, culturally and socio-economically to ever be able to compete meaningfully with China. Aside from a few technological "city-state islands", the majority of India remains a 3rd world backwater. Filthy, ignorant and dangerous.
Having said that, I observe with sincere amazement and admiration when Indians leave India and become powerful intellects in their adopted new countries. The potential absolutely exists and if it is ever tapped would be transforming. Unfortunately the 21st century is likely to belong to China/USA until the AGI actually takes over completely mid-century or so.
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How long should a $999 iPhone last? (Me: or any mobile for that matter.) by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
One year, tops. After that point I expect the exponential technological advances to be such as to render my one year old 999 dollar mobile nearly obsolete. Hopefully I can trade in my one year old mobile for a bit of a discount on my 1500 dollar, next year mobile.
I absolutely delight in the fact it becomes necessary for me to have to update my mobile once each year. It just goes to show how incredibly fast our technology is advancing.
By the way, if you can't use the website "Sketchfab" on your mobile because it won't support it, you need to upgrade your mobile. "Sketchfab" is a miracle of AI and processing power. You have to see it to believe it. Here is the pc version.
https://sketchfab.com/
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Skin Patch Dissolves “Love Handles” in Mice: Researchers devised a medicated skin patch that can turn energy-storing white fat into energy-burning brown fat locally while raising the body’s overall metabolism, to burn off pockets of unwanted fat such as “love handles” and treat obesity. by mvea in Futurology


[–]izumi3682 1 point 6 months ago
Not a moment too soon for the likes of me.
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I Saw Her Face, Now I’m a Believer—Facial Recognition Tech Goes Mainstream by dwaxe in Futurology


[–]izumi3682 0 points 6 months ago
I was reading that Samsung had developed the facial recognition technology for their mobiles already, but that it was so undependable and quirky that most people chose not to use it. Apple has nailed the technology. That is what Apple does.
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PAL-V Just Announced Plans to Travel Around the World in a Flying Car by skoalbrother in Futurology


[–]izumi3682 1 point 6 months ago
Granted its a tiny helicopter, but it's still a helicopter. If you need tons of license and training and carrying on for your flying car, we haven't arrived. A flying car should be electric and level 5 AI autonomous. The human(s) get(s) in like a regular car, tells the flying car where to go and the flying car takes off like a king sized drone to deliver that/them human(s) to their destination in safety and comfort.
We'll get there. I see good signs. But this is just a little helicopter.
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Median wealth of black Americans 'will fall to zero by 2053', warns new report | Inequality by izumi3682 in Futurology


[–]izumi3682[S] 2 points 6 months ago
Just as the transistor replaced the vacuum tube, the quantum logic gate will replace the transistor based chip. Quantum supremacy is possible by 2018. Moore's law will be transcended. In the meantime 15 petaflops computers are sprouting like dandelions. This will trickle down to the consumer as well. Just imagine the resulting VR!
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Median wealth of black Americans 'will fall to zero by 2053', warns new report | Inequality by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
That's a valid consideration and I concede it to you as a possibility!
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Smartphones Could Be Leading To A Mental-Health Crisis by izumi3682 in Futurology


[–]izumi3682[S] -1 points 6 months ago
Smartphones demonstrate the increasingly sharper and growing disconnect between machines like mobiles and biological human minds. This is only going to get worse. And it really is worrisome. It is almost as if humans are screamingly striving toward becoming one with the devices. You can see it so easily now in everyday life. Just go out where people are and you'll see it. But I also believe that help is on the way.
Unfortunately this help, the BMI (Brain Machine Interface) which, while it will restore equilibrium again, will also leave a far different "human" on the other side. Hopefully I'll really really like being "Human 2.0".
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How Tinder Exposed Our Reliance on Racist Stereotypes by izumi3682 in Futurology


[–]izumi3682[S] 1 point 6 months ago
This is a perfect example of parsing "big data" to gain useful and sometimes distressing insights. The demographics of the USA are now in flux. The next 20 years, in the absence of overwhelming AI, will see vast changes in the way that the USA thinks. Me, I just want a comfortable, cool tech VR future, but I worry about increasing societal discord in the USA from a variety of "growing pains" that are more than just exposed racism and demographic shift.
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submitted by izumi3682 to u/izumi3682 [link] [comments]

12-10 23:33 - 'Lets have a discussion about energy consumption in bitcoin mining and what that means towards the carbon footprint today.' (self.Bitcoin) by /u/Cryptolution removed from /r/Bitcoin within 1-11min

'''
There was a [very good coindesk article in July 2014]1 that broke down the carbon footprint of the bitcoin mining network. At the date of the article, our hashrate was 146,505 TH/s. Now that we are at above 13 exahashes/s this represents a 94 fold increase hashing power.
[Here is the cost breakdown chart from the coindesk article]2 .
As you can see from this image, the carbon footprint of bitcoin in 2014 is a tiny fraction compared to the carbon footprint of the traditional banking system. Yet at a 0.78 Billion per year cost in 2014, at a 94 fold increase of power that would now be 73.32 billion, which would make bitcoin 9.52 billion more in electricity costs.
But this is trying to extrapolate data in a non-accurate way. In order to understand why this is inaccurate, we must look at how all of this technology works and how technology has scaled upwards while decreasing electricty consumption.
The bitcoin network at 13 exahashes is roughly 130 times greater than the largest super computer (Sunway, 93 petahashes per sec in china, see [top500.org]3 )
So when you make that statement, you think "wow, bitcoin must use a lot of energy to be 130 times more powerful than the largest super computer network!"
But, its not apples to oranges. These super computer networks are non-specialized hardware (comparably to bitcoin) in that they have generalized computing capabilities. This means that these systems require more standardized hardware so that they can preform a large amount of different computing functions.
So, for example, the largest Sunway supercomputer @ 93 petaflops (roughly 1/130th the power of the bitcoin network) preforms its calculations at 93,014.6 petahashes @ 15,371 kW = 93014000 Gh @ 15370000 watts. Doing the maths, this comes out to a 0.16524 W/Gh.
The AntMiner S9 currently operates at 0.098 Gh ....so nearly double the energy efficiency of what the most powerful super computer network in the world operates at.
You have the Dragonmint miner coming out Q1-Q2 in 2018 which uses 0.075J/GHs ....a 30% efficiency increase over the Antminer S9.
And next year japanese giant GMO is launching into the bitcoin mining business, stating they will be releasing a 7nm ASIC design, which is more than double the efficiency of the current 16nm design the Antminer S9 uses. This will mean a more than doubling of energy efficiency. They said they have plans after the release of the first product to research "5nm, and 3.5nm mining chips"
So, what is the point of understanding all of this? Well, you have to understand how technology scales (think Moore's law) to understand how we can achieve faster computational speeds (more exahashes per second) without increasing the carbon footprint.
So if you look at a proof of work chart, you'll see it has scaled linearly upwards since the birth of bitcoin. And it would be logical to assume that the more hashes per sec thrown into the network, that it would equate to more power being spent. Yet this is not true due to advancements in ASIC chip design, power efficiency, and basic economic fundamentals.
You see, as new miners come out, because they are more efficient, people can run much faster mining rigs at much lower cost. This immediately adds much more hashing power to the network, which decreases the profitability of old miners. And to give you an idea of how much more cost efficient these are, lets look at Antminers products.
S9 - 0.098 W/Gh
S7 - 0.25 W/Gh
Avalon6 - 0.29 w/Gh
You can see the S9 is 3 times more power efficient than the Avalon6. That translates to "It costs 3 times more to operate this equipment". That aint no small difference.
These differences, combined with energy costs are what forces miners to stop running old hardware and to upgrade to newer models or exit mining completely. So as new mining equipment hits the market, old less efficient mining rigs go offline. The amount of hashes per sec continues to climb, yet the actual power usage of the entire network does not scale at the same rate that the hashes per sec scale at, due to increased energy efficiency.
The question that I would like to see answered by the community is this -
What has changed between now and 2014 in terms of total watts consumed? How can we calculate the real carbon footprint of todays bitcoin mining network compared to this data from 2014?
What equipment was running in 2013-2014, what were their W/Gh and how many of these machines do we speculate are still running vs more efficient mining rigs powering the network today? What is the Th/S differences between these mining rigs, and how much more power do we contribute towards the network today because of these optimized rigs?
Mining is not my specialty and there are going to be many people here who are better suited to tackling these problems.
I think these questions need to be answered and articulated because these are questions that im starting to see a lot from the mainstream as criticism towards bitcoin. I know the generic answer, aka "Bitcoin mining still uses a fraction of the cost that the entire global banking system does", but we really need to do better than that. We need to examine the different power types used in bitcoin mining -
How much of bitcoin mining is from hydroelectric? Nuclear? Wind? Solar? Coal? Natural Gas? What regions contribute the largest hashing power and can we evaluate whether these regions are Hydroelectric, Coal, Nuclear etc dependent?
If we are to articulate effective arguments against those who naysay bitcoin over its carbon footprint, then we must do so with good data to backup our positions.
Hopefully the numbers above are accurate/correct. Honestly only spent a few minutes doing napkin math, so I expect there to be mistakes, please let me know and thank you very much all.
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Lets have a discussion about energy consumption in bitcoin mining and what that means towards the carbon footprint today.
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Author: Cryptolution
1: https://www.coindesk.com/microscope-conclusions-costs-bitcoin/ 2: https://imgur.com/a/eKipC 3: ww**top500*org/*ists*2*17/11*
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submitted by removalbot to removalbot [link] [comments]

Is buying BTC now and save it for the future a rational or irrational decision?

Lets discuss it, and let the PRO's and CON's up. not just for the bitcoins but the fiats too..
I can start by saying, the petaflops the bitcoin network is doing is insane and the bitcoin miners will still get more and more advanced techs and I turly believe no government or all government will never be able to catch up this huge super computer. So I say buying into bitcoin is a rational decision because it's like investing in the most advanced supercomputer network ever made. This can go out of control when the grey masses realizes they can finally be their own banks and have control of their OWN money - like today's banks allow you not.
For me the irrational thing would be keep the fiats you own and not investing in this never before seen supercomputer that lets your money free!
And finally the youth have waited many thousands of years to take over this planet, let's be rational. This technology can do it! ~~
EDIT: Sorry for begging.
submitted by cannabiscut to Bitcoin [link] [comments]

The Bitcoin Network is 1000x more powerful than the worlds most powerful super computer.

The bitcoin mining network is doing 33,000 petaflops, whereas the worlds most powerful super computer, Tianhe-2, does 33.8 Petaflops.
Insanity!
submitted by lukerayes08 to Bitcoin [link] [comments]

My plan to take down the bitcoin network.. Will this work?

Not really going to do this, but just curious if it would work?
I go to the university of illinois and we have a super-computer here on campus that can do 11.5 petaFLOPS its call Blue Waters. Anyway, can a few CS nerds get together, break into the facility one night and get over 51% on the mining hashrate distribution and bring the network to a halt?
The same people would also short thousands worth of bitcoins and make mad $$$ when it crashed.. <-- motive
And if you think this is crazy and very unlikely I want to point you to this diamond heist story just to show you how far people will go for money..
http://www.wired.com/politics/law/magazine/17-04/ff_diamonds?currentPage=all
Looking forward to your replies!
submitted by markymark994 to Bitcoin [link] [comments]

More computing power for Dutch national supercomputer YouTube Philion - YouTube G-QUBE Tweak - YouTube STOP DOING THIS! - Copyright Striking Criticism etc - YouTube

Whereas, the Bitcoin hashrate is 80704290.84 petaFLOPS at the moment. Even if China decides to use this system for mining Bitcoins, it won’t be beneficial. They would be spending much more cost on electricity bill (to run processors and cooling components) than the value of bitcoins mined. Running at full efficiently, Sunway TaihuLight consumes more than 15,300 kW of power. AISCs, like ... Denver (dpa) - China führt weiterhin die Liga der schnellsten Supercomputer der Welt an. Die Rechenanlage Tianhe-2 (zu deutsch: Milchstraße) konnte auch in der aktuellen Liste der Top 500 keine ... Die Rechenleistung von 33,86 Petaflops wird größtenteils durch 32.000 Intel Xeon E5 (12 Kerne, 2,2 GHz) sowie 48.000 Intel Xeon Phi (nur 57 statt der üblichen 61 Kerne – da es sich um ein ... Im Kampf gegen den Coronavirus hat [email protected] performancemäßig sämtlich Supercomputer hinter sich gelassen. Das Volunteer-Computing-Projekt stellt aktuell 470 Petaflops zur Verfügung. Genutzt wird diese gigantischer Rechenleistung von Forschern der Washington University auf der Suche nach einem Gegenmittel gegen Sars-CoV-2. PetaFLOPS (PFLOPS) = 10^15 (1.000.000.000.000.000) FLOPS ExaFLOPS (EFLOPS) = 10^18 (1.000.000.000.000.000.000) FLOPS ZettaFLOPS (ZFLOPS) = 10^21 (1.000.000.000.000.000.000.000) FLOPS YottaFLOPS (YFLOPS) = 10^24 (1.000.000.000.000.000.000.000.000) FLOPS Einen Supercomputer werden Sie sich vermutlich nicht anschaffen, aber ein neuer Prozessor mit vielen FLOPS kann sich lohnen. Wir erklären ...

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More computing power for Dutch national supercomputer

• Come chat on our Discord!: https://discord.gg/PApp82h Nvidia's GeForce Partner Program (GPP) is a bad situation. But bad moves by large corporations aren't always predicated by malicious ... Top daily trending tech videos .. enjoy guys 👍 Correction: Copyright striking does not transfer the revenue of the video. copyright strikes are not epic sign this petition against article 13 SIGN THE PETI... Supercomputing over this last year has set its sights on the next regime of performance, that of 100+ petaflops. Planning for this near term capability has been strongly driven by the next step in ... Gretel and Hazel FLOPS after WOKE Marketing, proving AGENDA DOES NOT SELL

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