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Bitcoin Was Created By DARPA

 
Anonymous Coward
User ID: 50027730
United States
11/30/2013 02:18 PM
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Re: Bitcoin Was Created By DARPA
we all know how this will end..badly..like every single monetary instrument since the beginning of time...crashes and burns. Yes people will make money but 99 percent will NOTredface
 Quoting: Anonymous Coward 49091995


BUT Cryptos have a finite supply unlike fiat which just prints to infinity until it crashes and burns under its own debt.
 Quoting: Bear Drinker


Wrong. crypto supply is infinite, dumbass.
Anonymous Coward
User ID: 47656070
Canada
11/30/2013 02:20 PM
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Re: Bitcoin Was Created By DARPA
we all know how this will end..badly..like every single monetary instrument since the beginning of time...crashes and burns. Yes people will make money but 99 percent will NOTredface
 Quoting: Anonymous Coward 49091995


BUT Cryptos have a finite supply unlike fiat which just prints to infinity until it crashes and burns under its own debt.
 Quoting: Bear Drinker


Wrong. crypto supply is infinite, dumbass.
 Quoting: Anonymous Coward 50027730


Wrong you dumbfuck. There are limits. Just because units get divided no more is created. You are a fucking retard.
Anonymous Coward
User ID: 44367032
United States
11/30/2013 02:23 PM
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Re: Bitcoin Was Created By DARPA
If anyone thinks mining bitcoin is easy here go ahead and give it a shot:


I figured I'd calculate how long it would take to mine bitcoin using a pen and paper for fun.


It takes 3385 integer operations to calculate one double SHA-256 hash.


These are 32-bit operations, so we'll give a very generous estimate of 10 seconds per operation (we're assuming that you're a numeric genius)


This works out to a rate of .0000295 hashes per second. Not bad, right?

Throwing the current difficulty (609482679.88835) into this calculator gives us an average time of 2,809,786,333,451,380 years to mine one block. Have no fear, this is only 200000 times the age of the universe.

Now, at current rates of 25 BTC/block, and $800/BTC, this gives us an hourly profit of $0.000000000000000609/hr (assuming we're contributing to a pool, since competing with ASIC machines is just unfair), or about 1/300 of a quadrillionth the national (US) average.
What would it cost you to perform this?

One three ounce bottle of Noodler's ink is $12.50, and will write for approximately 33 km. Let's say that you're working in binary, and drawing a 1 and a 0 uses 1cm of ink, and you need to write 2 32 bit numbers per addition operation.

That's 2166.4 meters of ink per hash. You can do about 50 operations on each side of a piece of paper. Paper runs for about a cent a page on Amazon, so that's about 34 cents per hash.

At the (approximate) 2,728,647,008,755,700,000 hashes you need to mine one block, adding these two costs together gives you a whopping $3,162,791,285,103,330,000.00 per block, or, if you're keeping track, you earn 0.000000000000474% of the money you spent mining that block (excluding the cost of petayears worth of food and shelter, and assuming the difficulty of mining and the value of bitcoin freezes forver at this moment).

Anyone want to get started with me?
 Quoting: Philligan


I can give you a real world example...

--I have a 6.5G/h ASIC miner.
--It mines about 0.0051 BTC per day
--Power consumption is 30 watts

The cost of the unit was $274 + shipping for a total of $308

I had no intention of it making any meaningful profit. It was a good way to learn more. I bought it with profit anyway so no harm. Also it helps support a decentralized money exchange system.
 Quoting: GFX guy



i have a question. Given how costly it is to mine bitcoin does this not mean that those that do the mining will hold a monopoly so to speak. How does it work.

i am a newbie but would like to get my feet wet. How do i go about buying bitcoin, and i knkw it can go down in price, but what other risks should i be aware of. Would you buy litecoin or stick with bitcoin.

Thank you
 Quoting: Anonymous Coward 44367032


Look at the prices of Bitcoin rigs over at [link to butterflylabs.com.] To mine BTC is now an expensive proposition.

You can still use GPUs to mine Infinitecoin.
 Quoting: Bear Drinker



Does that not mean that those who can mine BTC will have the power/control. Bit like the banks do now with fractional lending.
FingerBangHerAsshole
User ID: 49611707
United States
11/30/2013 02:44 PM
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Re: Bitcoin Was Created By DARPA
This is crazy. I'm reading right now about mining bitcoins. I never expected anything like this would ever be possible.

Definitely the craziest fucking thing i've read about in a while.
Anonymous Coward
User ID: 50027730
United States
11/30/2013 02:50 PM
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Re: Bitcoin Was Created By DARPA
we all know how this will end..badly..like every single monetary instrument since the beginning of time...crashes and burns. Yes people will make money but 99 percent will NOTredface
 Quoting: Anonymous Coward 49091995


BUT Cryptos have a finite supply unlike fiat which just prints to infinity until it crashes and burns under its own debt.
 Quoting: Bear Drinker


Wrong. crypto supply is infinite, dumbass.
 Quoting: Anonymous Coward 50027730


Wrong you dumbfuck. There are limits. Just because units get divided no more is created. You are a fucking retard.
 Quoting: Bear Drinker


you fucking stupid canadian
Anonymous Coward
User ID: 50721961
United States
11/30/2013 02:54 PM
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Re: Bitcoin Was Created By DARPA
This is crazy. I'm reading right now about mining bitcoins. I never expected anything like this would ever be possible.

Definitely the craziest fucking thing i've read about in a while.
 Quoting: FingerBangHerAsshole 49611707


Yes - when I read about "mining" for bitcoins, then I lost interest completely and never read any more about it since.
Copperhead

User ID: 27466326
United States
11/30/2013 02:57 PM

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Re: Bitcoin Was Created By DARPA
If anyone thinks mining bitcoin is easy here go ahead and give it a shot:


I figured I'd calculate how long it would take to mine bitcoin using a pen and paper for fun.


It takes 3385 integer operations to calculate one double SHA-256 hash.


These are 32-bit operations, so we'll give a very generous estimate of 10 seconds per operation (we're assuming that you're a numeric genius)


This works out to a rate of .0000295 hashes per second. Not bad, right?

Throwing the current difficulty (609482679.88835) into this calculator gives us an average time of 2,809,786,333,451,380 years to mine one block. Have no fear, this is only 200000 times the age of the universe.

Now, at current rates of 25 BTC/block, and $800/BTC, this gives us an hourly profit of $0.000000000000000609/hr (assuming we're contributing to a pool, since competing with ASIC machines is just unfair), or about 1/300 of a quadrillionth the national (US) average.
What would it cost you to perform this?

One three ounce bottle of Noodler's ink is $12.50, and will write for approximately 33 km. Let's say that you're working in binary, and drawing a 1 and a 0 uses 1cm of ink, and you need to write 2 32 bit numbers per addition operation.

That's 2166.4 meters of ink per hash. You can do about 50 operations on each side of a piece of paper. Paper runs for about a cent a page on Amazon, so that's about 34 cents per hash.

At the (approximate) 2,728,647,008,755,700,000 hashes you need to mine one block, adding these two costs together gives you a whopping $3,162,791,285,103,330,000.00 per block, or, if you're keeping track, you earn 0.000000000000474% of the money you spent mining that block (excluding the cost of petayears worth of food and shelter, and assuming the difficulty of mining and the value of bitcoin freezes forver at this moment).

Anyone want to get started with me?
 Quoting: Philligan


I could have the local quarry drop off a few granite boulders on my yard, grab a sledgehammer and start breaking them up into small pieces. It would be very hard and labor intensive work, but what kind of value would that create? Hard work in itself does not create value or worth.
Anonymous Coward
User ID: 50801483
Sweden
11/30/2013 03:04 PM
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Re: Bitcoin Was Created By DARPA
So you are saying that legitimate Bitcoins would be those in wallets that are in centralized hosting?
And who will do all the calculations?
Anonymous Coward
User ID: 50816821
Canada
11/30/2013 03:18 PM
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Re: Bitcoin Was Created By DARPA
sha256 hash will be cracked. not today maybe not tommorow but someday. All it needs it some computer power. I bet NSA has already done it
Anonymous Coward
User ID: 50801483
Sweden
11/30/2013 03:51 PM
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Re: Bitcoin Was Created By DARPA
There is no way to stop what is going to happen to bitcoin. It's an issue of sociology. It's an issue of human greed. It's an issue as to WHO created bitcoin and WHY.

Who is the single largest holder of BTC right now? "Satoshi". Who is he? I will say it again. NSA/DARPA created bitcoin under the guidance of the IMF. The IMF has been openly calling for a digital, one-world, deflationary currency for 2 decades. OPENLY. It has been discussed and promoted OPENLY at G8 and G20 summits.

from the early 90s-96 the NSA was OPENLY investigating cryptographic money networks.

[link to groups.csail.mit.edu]

One of their researchers and investigators is a man named Tatsuaki Okamoto. When they actively started writing the code they chose the pseudonym "Satoshi Nakamura" to ultimately promote the idea that Tatsuaki Okamoto to any and all who investigated the source of bitcoin long enough. But Tatsuaki Okamoto is just a cog. He's not some rogue savoir out to topple centralized banks. Not at all. He is a crypto scientist who was paid by government and intelligence agencies to do research.

Bitcoin is an NSA/DARPA lab set into the wild. Scientific technology grants issued by government and intelligence agencies are how these labs are funded and promoted. The regulation and control of bitcoin has been actively developed alongside the development of the network. In fact, the controls, policy and regulation are WAY WAY more mature than the bitcoin protocol itself. That's why we see things like Greenlist written into law without a mention of bitcoin until recently.

This is not tinfoil hattish. This is just reality. No one forced ANYONE to believe the Satoshi fairytale.. The libertarian Satoshi myth has been promoted in stealth to specifically promote ADOPTION and DEVELOPMENT. It's no different than the internet and WWW itself. EXACTLY the same. That is why you see many www early adopters saying bitcoin "feels" the same as the early internet. I am one of those people.

In 94-96 the public internet was ALL about freedom of information. FREE COMMUNICATION. It was ALL about liberty and freedom. I wish i could transport some of you back in time so you could see for yourselves. The promise of free phonecalls with the freeworlddialup, free media with IUMA and the MBONE. All this freedom and liberty had people pouring their heart and soul into developing it. Now look at it. Facebook, google.. it is a GIANT SURVEILLANCE grid. And if you look for and read DARPA/NSA docs from the 80s and early 90s that was what it was always meant to be. I am not discounting all the socially great things that happen online.. But from the perspective of DARPA/NSA and control freaks.. it was created for the express purpose of control. A military purpose. A strategic purpose.

What is bitcoin? Bitcoin IS the one world digital currency. We all have a deterministic UUID that has been generated from our biometric data. This UUID will be related to all your datastores. This UUID is your mark. This UUID is what is used to buy and sell online and in the real world. This UUID is the primary key in your Greenlist identity.

Coinbase, blockchain.info and it would appear Coinsetter are inline to be the first to roll out the incoming policy and regulation. This policy and regulation is WORLD WIDE. It is CORPORATE. It is not about governments. Governments ADOPT corporate organized policies. If you think this is new than you need to investigate ACH and NACHA.
[link to www.nacha.org (secure)] [link to www.slideshare.net]

Bitcoin is THEIR network. And for the minority early adopters that is going to be a hard pill to swallow.. But for those in the know.. Like Gavin, it's PAYDAY. Realization and monetization of their massive bitcoin holdings is being guaranteed by regulators. That is why they are all literally RUSHING to regulate.

Legitimization of bitcoin is all about hosted wallets. The centralization of bitcoin. Hosted wallet providers approve/dissaprove transactions before they are actually issued on the network. Greenlist enabled wallets will be the fastest. (offline transactions). Greenlist enabled wallets will be hooked directly to your bank account, ease of buying and selling. Greenlist enabled exchanges will have the largest market with the best prices. Greenlist enabled wallets will completely eliminate risk of stolen coins. No more security worries AT ALL. And this is what the masses have come to expect. And this is why it's going to happen. And Greenlisted wallets will be accepted everywhere. And in the physical world you will identify yourself and your wallet with your biometrics.

[link to bitcointalk.org (secure)]

TL;DR bitcoin is a global digital currency, regulation was created in tandem with development and adoption, bitcoin is not and never was meant to be a liberty promoting value exchange. There is no "satoshi". The central banks are already the largest holders of bitcoin. Bitcoin IS going to the moon because of this.
 Quoting: DisaffectedOne


-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256

Well I am pretty real.

And You are wrong.
Cryptocurrency was created by me and it was altruism.

But if other people want to abuse it, well...
Do not blame me.

When bitcoin would be abused, I set up immediatly
a fork, and I have perfectly in mind what I would change.

have a good day.
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.12 (GNU/Linux)

iF4EAREIAAYFAlKP014ACgkQBJTGcyJSyfktUwD+LCB81bnOqtUf0/VJW3gjY​0Tv
DZnhW/831QjRmepDiCwA/1hJMQqNofjZ+8Gp46O8WU1h9qtJ9M5vNMD8607jv​yur
=KbxF
-----END PGP SIGNATURE-----
 Quoting: Father of Cryptocurrency 41993714


Oh its all.. so clear, is it?
Anonymous Coward
User ID: 42624102
Canada
11/30/2013 04:52 PM
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Re: Bitcoin Was Created By DARPA
Thanks for this!
Anonymous Coward
User ID: 49817170
United States
11/30/2013 04:55 PM
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Re: Bitcoin Was Created By DARPA
The best way to mine is by building your own hardware using Avalon ASIC chips.

There are many open source hardware designs out there; with a little pcb manufacture experience you can build everything yourself.
Anonymous Coward
User ID: 50826370
Canada
11/30/2013 04:58 PM
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Re: Bitcoin Was Created By DARPA
AGAIN, if the msm is plugging bitcoin with their phony stories about some guy losing his stack, you know it's bullshit..
But go ahead, invest. If you lose your bread, just ask the gov't, I mean taxpayers to bail you out. That's how she goes
Anonymous Coward
User ID: 50826370
Canada
11/30/2013 04:59 PM
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Re: Bitcoin Was Created By DARPA
If anyone thinks mining bitcoin is easy here go ahead and give it a shot:


I figured I'd calculate how long it would take to mine bitcoin using a pen and paper for fun.


It takes 3385 integer operations to calculate one double SHA-256 hash.


These are 32-bit operations, so we'll give a very generous estimate of 10 seconds per operation (we're assuming that you're a numeric genius)


This works out to a rate of .0000295 hashes per second. Not bad, right?

Throwing the current difficulty (609482679.88835) into this calculator gives us an average time of 2,809,786,333,451,380 years to mine one block. Have no fear, this is only 200000 times the age of the universe.

Now, at current rates of 25 BTC/block, and $800/BTC, this gives us an hourly profit of $0.000000000000000609/hr (assuming we're contributing to a pool, since competing with ASIC machines is just unfair), or about 1/300 of a quadrillionth the national (US) average.
What would it cost you to perform this?

One three ounce bottle of Noodler's ink is $12.50, and will write for approximately 33 km. Let's say that you're working in binary, and drawing a 1 and a 0 uses 1cm of ink, and you need to write 2 32 bit numbers per addition operation.

That's 2166.4 meters of ink per hash. You can do about 50 operations on each side of a piece of paper. Paper runs for about a cent a page on Amazon, so that's about 34 cents per hash.

At the (approximate) 2,728,647,008,755,700,000 hashes you need to mine one block, adding these two costs together gives you a whopping $3,162,791,285,103,330,000.00 per block, or, if you're keeping track, you earn 0.000000000000474% of the money you spent mining that block (excluding the cost of petayears worth of food and shelter, and assuming the difficulty of mining and the value of bitcoin freezes forver at this moment).

Anyone want to get started with me?
 Quoting: Philligan


Mine Litecoin and Infinitecoin Both are now trading on Cryptsy. Fucking price of IFC has bee rising since the bullshit for rumor was put to bed. eBay sellers are now selling and getting 1 million IFC for $450.

Banks are slowly being removed the equation. They are being stupid just like the music and movie industry has been. They need to accept it and move forward.

Banks could easily offer Crypto Accounts where clients could for exchanges. The banks would get their fees and governments could get their taxes.

The establishment needs to wake the fuck up to the people.
 Quoting: Bear Drinker


chucklelaugh
Anonymous Coward
User ID: 50821224
France
11/30/2013 06:03 PM
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Re: Bitcoin Was Created By DARPA
what a load of dumb fucks everywhere (my own mother included)
xtcsso

User ID: 50829572
Canada
11/30/2013 06:10 PM
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Re: Bitcoin Was Created By DARPA
Bitcoin is just another 'get rich quick' scheme. You want money, it's simple, get off your ass and get to work.

billclinton1
 Quoting: Anonymous Coward 49996267


ho i see , so those who are billionairs work 20000000 hours per week right?
xtcsso
Anonymous Coward
User ID: 49760580
Sweden
11/30/2013 06:37 PM
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Re: Bitcoin Was Created By DARPA
...


BUT Cryptos have a finite supply unlike fiat which just prints to infinity until it crashes and burns under its own debt.
 Quoting: Bear Drinker


Wrong. crypto supply is infinite, dumbass.
 Quoting: Anonymous Coward 50027730


Wrong you dumbfuck. There are limits. Just because units get divided no more is created. You are a fucking retard.
 Quoting: Bear Drinker


you fucking stupid canadian
 Quoting: Anonymous Coward 50027730


Sorry, you are the tard here.
If the supply would be infinite, they would not be worth shit.
Yet they aren't worth $0.
It's 100% clear, you have no idea what you are talking about
/a programmer
Anonymous Coward
User ID: 50830669
United States
11/30/2013 06:42 PM
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Re: Bitcoin Was Created By DARPA
There is no way to stop what is going to happen to bitcoin. It's an issue of sociology. It's an issue of human greed. It's an issue as to WHO created bitcoin and WHY.

Who is the single largest holder of BTC right now? "Satoshi". Who is he? I will say it again. NSA/DARPA created bitcoin under the guidance of the IMF. The IMF has been openly calling for a digital, one-world, deflationary currency for 2 decades. OPENLY. It has been discussed and promoted OPENLY at G8 and G20 summits.

from the early 90s-96 the NSA was OPENLY investigating cryptographic money networks.

[link to groups.csail.mit.edu]

One of their researchers and investigators is a man named Tatsuaki Okamoto. When they actively started writing the code they chose the pseudonym "Satoshi Nakamura" to ultimately promote the idea that Tatsuaki Okamoto to any and all who investigated the source of bitcoin long enough. But Tatsuaki Okamoto is just a cog. He's not some rogue savoir out to topple centralized banks. Not at all. He is a crypto scientist who was paid by government and intelligence agencies to do research.

Bitcoin is an NSA/DARPA lab set into the wild. Scientific technology grants issued by government and intelligence agencies are how these labs are funded and promoted. The regulation and control of bitcoin has been actively developed alongside the development of the network. In fact, the controls, policy and regulation are WAY WAY more mature than the bitcoin protocol itself. That's why we see things like Greenlist written into law without a mention of bitcoin until recently.

This is not tinfoil hattish. This is just reality. No one forced ANYONE to believe the Satoshi fairytale.. The libertarian Satoshi myth has been promoted in stealth to specifically promote ADOPTION and DEVELOPMENT. It's no different than the internet and WWW itself. EXACTLY the same. That is why you see many www early adopters saying bitcoin "feels" the same as the early internet. I am one of those people.

In 94-96 the public internet was ALL about freedom of information. FREE COMMUNICATION. It was ALL about liberty and freedom. I wish i could transport some of you back in time so you could see for yourselves. The promise of free phonecalls with the freeworlddialup, free media with IUMA and the MBONE. All this freedom and liberty had people pouring their heart and soul into developing it. Now look at it. Facebook, google.. it is a GIANT SURVEILLANCE grid. And if you look for and read DARPA/NSA docs from the 80s and early 90s that was what it was always meant to be. I am not discounting all the socially great things that happen online.. But from the perspective of DARPA/NSA and control freaks.. it was created for the express purpose of control. A military purpose. A strategic purpose.

What is bitcoin? Bitcoin IS the one world digital currency. We all have a deterministic UUID that has been generated from our biometric data. This UUID will be related to all your datastores. This UUID is your mark. This UUID is what is used to buy and sell online and in the real world. This UUID is the primary key in your Greenlist identity.

Coinbase, blockchain.info and it would appear Coinsetter are inline to be the first to roll out the incoming policy and regulation. This policy and regulation is WORLD WIDE. It is CORPORATE. It is not about governments. Governments ADOPT corporate organized policies. If you think this is new than you need to investigate ACH and NACHA.
[link to www.nacha.org (secure)] [link to www.slideshare.net]

Bitcoin is THEIR network. And for the minority early adopters that is going to be a hard pill to swallow.. But for those in the know.. Like Gavin, it's PAYDAY. Realization and monetization of their massive bitcoin holdings is being guaranteed by regulators. That is why they are all literally RUSHING to regulate.

Legitimization of bitcoin is all about hosted wallets. The centralization of bitcoin. Hosted wallet providers approve/dissaprove transactions before they are actually issued on the network. Greenlist enabled wallets will be the fastest. (offline transactions). Greenlist enabled wallets will be hooked directly to your bank account, ease of buying and selling. Greenlist enabled exchanges will have the largest market with the best prices. Greenlist enabled wallets will completely eliminate risk of stolen coins. No more security worries AT ALL. And this is what the masses have come to expect. And this is why it's going to happen. And Greenlisted wallets will be accepted everywhere. And in the physical world you will identify yourself and your wallet with your biometrics.

[link to bitcointalk.org (secure)]

TL;DR bitcoin is a global digital currency, regulation was created in tandem with development and adoption, bitcoin is not and never was meant to be a liberty promoting value exchange. There is no "satoshi". The central banks are already the largest holders of bitcoin. Bitcoin IS going to the moon because of this.
 Quoting: DisaffectedOne


Nice try.

bsflag
Anonymous Coward
User ID: 27419238
Canada
11/30/2013 06:47 PM
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Re: Bitcoin Was Created By DARPA
Don't be jelly
fnord
User ID: 50588970
United States
11/30/2013 07:01 PM
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Re: Bitcoin Was Created By DARPA
Bitcoin is just another 'get rich quick' scheme. You want money, it's simple, get off your ass and get to work.

billclinton1
 Quoting: Anonymous Coward 49996267


Mining is hard work you stupid peckerhead.
 Quoting: Bear Drinker


That's why computers do the mining.
Anonymous Coward
User ID: 40796735
Colombia
12/03/2013 07:52 AM
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Re: Bitcoin Was Created By DARPA
Sounds about right to me, OP. All you morans thinking Bitcoin is an anti-establishment, libertarian invention will have a rude awakening. You really think some shady character creates something like Bitcoin, something that can't be taxed nor regulated by the Rothschild-owned network of worldwide central banks, and the Illuminati are okay with it? Haha you guys are fools.

The Rothschilds send the U.S. military to foreign countries and bomb them back to the stone age, ruthlessly murdering millions of innocent people, all in order to install a Rothschild-owned, usurious central bank in the country, and you think they're just fine with something like Bitcoin being outside their control? WAKE UP AND SMELL REALITY.

And by the way, this idea that so-called "mining" gives Bitcoins value is so ridiculously fallacious, I don't even know where to begin. I worked on the dev side when I was in IT and I have a math degree, so I laugh when people try to bullshit me about Bitcoin's math-derived "value". You Bit-tards have no clue what money is. It would behoove you to figure that out at some point in your lives.
Anonymous Coward
User ID: 7043823
United States
12/03/2013 07:56 AM
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Re: Bitcoin Was Created By DARPA
Bitcoin is just another 'get rich quick' scheme. You want money, it's simple, get off your ass and get to work.

billclinton1
 Quoting: Anonymous Coward 49996267


Those days are over. Welcome to the new age.
Anonymous Coward
User ID: 7043823
United States
12/03/2013 08:00 AM
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Re: Bitcoin Was Created By DARPA
If anyone thinks mining bitcoin is easy here go ahead and give it a shot:


I figured I'd calculate how long it would take to mine bitcoin using a pen and paper for fun.


It takes 3385 integer operations to calculate one double SHA-256 hash.


These are 32-bit operations, so we'll give a very generous estimate of 10 seconds per operation (we're assuming that you're a numeric genius)


This works out to a rate of .0000295 hashes per second. Not bad, right?

Throwing the current difficulty (609482679.88835) into this calculator gives us an average time of 2,809,786,333,451,380 years to mine one block. Have no fear, this is only 200000 times the age of the universe.

Now, at current rates of 25 BTC/block, and $800/BTC, this gives us an hourly profit of $0.000000000000000609/hr (assuming we're contributing to a pool, since competing with ASIC machines is just unfair), or about 1/300 of a quadrillionth the national (US) average.
What would it cost you to perform this?

One three ounce bottle of Noodler's ink is $12.50, and will write for approximately 33 km. Let's say that you're working in binary, and drawing a 1 and a 0 uses 1cm of ink, and you need to write 2 32 bit numbers per addition operation.

That's 2166.4 meters of ink per hash. You can do about 50 operations on each side of a piece of paper. Paper runs for about a cent a page on Amazon, so that's about 34 cents per hash.

At the (approximate) 2,728,647,008,755,700,000 hashes you need to mine one block, adding these two costs together gives you a whopping $3,162,791,285,103,330,000.00 per block, or, if you're keeping track, you earn 0.000000000000474% of the money you spent mining that block (excluding the cost of petayears worth of food and shelter, and assuming the difficulty of mining and the value of bitcoin freezes forver at this moment).

Anyone want to get started with me?
 Quoting: Philligan


But I thought miners were just lazy pot smokers. Silly me
Gunnz, lots of Gunnz

User ID: 50762057
Australia
12/03/2013 08:02 AM
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Re: Bitcoin Was Created By DARPA
bitcoin will fold into meh territory just like everything else is.

how many stupid ways are there to pay for something online now?
Corp/o/Ration
A Single Entity (group with the same paragon) Restricting consumption of scarce commodities.
Ford Prefect

User ID: 50789360
Brazil
12/03/2013 08:29 AM
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Re: Bitcoin Was Created By DARPA
There is no way to stop what is going to happen to bitcoin. It's an issue of sociology. It's an issue of human greed. It's an issue as to WHO created bitcoin and WHY.

Who is the single largest holder of BTC right now? "Satoshi". Who is he? I will say it again. NSA/DARPA created bitcoin under the guidance of the IMF. The IMF has been openly calling for a digital, one-world, deflationary currency for 2 decades. OPENLY. It has been discussed and promoted OPENLY at G8 and G20 summits.

from the early 90s-96 the NSA was OPENLY investigating cryptographic money networks.

[link to groups.csail.mit.edu]

One of their researchers and investigators is a man named Tatsuaki Okamoto. When they actively started writing the code they chose the pseudonym "Satoshi Nakamura" to ultimately promote the idea that Tatsuaki Okamoto to any and all who investigated the source of bitcoin long enough. But Tatsuaki Okamoto is just a cog. He's not some rogue savoir out to topple centralized banks. Not at all. He is a crypto scientist who was paid by government and intelligence agencies to do research.

Bitcoin is an NSA/DARPA lab set into the wild. Scientific technology grants issued by government and intelligence agencies are how these labs are funded and promoted. The regulation and control of bitcoin has been actively developed alongside the development of the network. In fact, the controls, policy and regulation are WAY WAY more mature than the bitcoin protocol itself. That's why we see things like Greenlist written into law without a mention of bitcoin until recently.

This is not tinfoil hattish. This is just reality. No one forced ANYONE to believe the Satoshi fairytale.. The libertarian Satoshi myth has been promoted in stealth to specifically promote ADOPTION and DEVELOPMENT. It's no different than the internet and WWW itself. EXACTLY the same. That is why you see many www early adopters saying bitcoin "feels" the same as the early internet. I am one of those people.

In 94-96 the public internet was ALL about freedom of information. FREE COMMUNICATION. It was ALL about liberty and freedom. I wish i could transport some of you back in time so you could see for yourselves. The promise of free phonecalls with the freeworlddialup, free media with IUMA and the MBONE. All this freedom and liberty had people pouring their heart and soul into developing it. Now look at it. Facebook, google.. it is a GIANT SURVEILLANCE grid. And if you look for and read DARPA/NSA docs from the 80s and early 90s that was what it was always meant to be. I am not discounting all the socially great things that happen online.. But from the perspective of DARPA/NSA and control freaks.. it was created for the express purpose of control. A military purpose. A strategic purpose.

What is bitcoin? Bitcoin IS the one world digital currency. We all have a deterministic UUID that has been generated from our biometric data. This UUID will be related to all your datastores. This UUID is your mark. This UUID is what is used to buy and sell online and in the real world. This UUID is the primary key in your Greenlist identity.

Coinbase, blockchain.info and it would appear Coinsetter are inline to be the first to roll out the incoming policy and regulation. This policy and regulation is WORLD WIDE. It is CORPORATE. It is not about governments. Governments ADOPT corporate organized policies. If you think this is new than you need to investigate ACH and NACHA.
[link to www.nacha.org (secure)] [link to www.slideshare.net]

Bitcoin is THEIR network. And for the minority early adopters that is going to be a hard pill to swallow.. But for those in the know.. Like Gavin, it's PAYDAY. Realization and monetization of their massive bitcoin holdings is being guaranteed by regulators. That is why they are all literally RUSHING to regulate.

Legitimization of bitcoin is all about hosted wallets. The centralization of bitcoin. Hosted wallet providers approve/dissaprove transactions before they are actually issued on the network. Greenlist enabled wallets will be the fastest. (offline transactions). Greenlist enabled wallets will be hooked directly to your bank account, ease of buying and selling. Greenlist enabled exchanges will have the largest market with the best prices. Greenlist enabled wallets will completely eliminate risk of stolen coins. No more security worries AT ALL. And this is what the masses have come to expect. And this is why it's going to happen. And Greenlisted wallets will be accepted everywhere. And in the physical world you will identify yourself and your wallet with your biometrics.

[link to bitcointalk.org (secure)]

TL;DR bitcoin is a global digital currency, regulation was created in tandem with development and adoption, bitcoin is not and never was meant to be a liberty promoting value exchange. There is no "satoshi". The central banks are already the largest holders of bitcoin. Bitcoin IS going to the moon because of this.
 Quoting: DisaffectedOne


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Hash: SHA256

Well I am pretty real.

And You are wrong.
Cryptocurrency was created by me and it was altruism.

But if other people want to abuse it, well...
Do not blame me.


When bitcoin would be abused, I set up immediatly
a fork, and I have perfectly in mind what I would change.

have a good day.
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 Quoting: Father of Cryptocurrency 41993714


Buttcoin bithurt?

butthurt9
It's a tough galaxy. If you want to survive, you've gotta know...where your towel is.
Anonymous Coward
User ID: 50848954
Belgium
12/03/2013 08:59 AM
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Re: Bitcoin Was Created By DARPA
Bitcoin is just another 'get rich quick' scheme. You want money, it's simple, get off your ass and get to work.

billclinton1
 Quoting: Anonymous Coward 49996267


Wow. A super-slave.
GFX guy

User ID: 9776422
United States
12/03/2013 11:04 AM
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Re: Bitcoin Was Created By DARPA
Sounds about right to me, OP. All you morans thinking Bitcoin is an anti-establishment, libertarian invention will have a rude awakening. You really think some shady character creates something like Bitcoin, something that can't be taxed nor regulated by the Rothschild-owned network of worldwide central banks, and the Illuminati are okay with it? Haha you guys are fools.

The Rothschilds send the U.S. military to foreign countries and bomb them back to the stone age, ruthlessly murdering millions of innocent people, all in order to install a Rothschild-owned, usurious central bank in the country, and you think they're just fine with something like Bitcoin being outside their control? WAKE UP AND SMELL REALITY.

And by the way, this idea that so-called "mining" gives Bitcoins value is so ridiculously fallacious, I don't even know where to begin. I worked on the dev side when I was in IT and I have a math degree, so I laugh when people try to bullshit me about Bitcoin's math-derived "value". You Bit-tards have no clue what money is. It would behoove you to figure that out at some point in your lives.
 Quoting: Anonymous Coward 40796735


Your degree in maths hasn't done you much good to understand logic...

The math-derived value, as you state is only part of the story. That math is what audits the records of transfer. Over and over again for each and every transaction ever made. This is protection/prevention for counterfeits and double spending. That kind of value is not available in any fiat currency. All of this work made possible with mining.

I worked in IT and on a developer team too... Everyone knows that most IT guys are only trained to do a job and lack independent critical thinking skills. Your lust for the Rothschilds and their famed might is proof. Exactly how could they stop a protocol like bitcoin? Exactly what or who could they bomb?

The one calling people morans has made a moran of himself. afro
Anonymous Coward
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Canada
12/04/2013 01:51 PM
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Re: Bitcoin Was Created By DARPA
They can easy increase the amount of bitcoins available, and you wouldn't even know it. Just like how they print up money.
 Quoting: Anonymous Coward 47276267


And how would "they" do this, pray tell?
Anonymous Coward
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Norway
12/04/2013 02:22 PM
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Re: Bitcoin Was Created By DARPA
haha, what utter nonsense. have any of you tried to buy a bitcoin in the UK? it's almost impossible, because the banking system hates bitcoin so much that they have made it almost impossible. the only way i found to do so was via localbitcoins.com

i suggest OP is actually posting from a DARPA facility, rather than BTC being a .gov project.
dawnie
User ID: 38186544
United States
12/04/2013 02:47 PM
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Re: Bitcoin Was Created By DARPA
sounds about right to me. I've always suspected this was a testing mechanism for the one world currency/control system. TPTB are in full control of this system. Enjoy the run up while it lasts.