4 New High-Powered Bitcoin Miners Revealed | Mining
What is a terahash in plain English? - Quora
TerraHash shuts down, bitcoin miners upset with 50% refund
Terahash - High Performance Password Cracking
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.
Bitmain and Canaan Introduce Bitcoin Miners That Process 70 Terahash per Second. The 2019 World Digital Mining Summit (WDMS) has finished after hosting a large event filled with digital currency Underneath the hood, Bitcoin mining is a bit like playing the lottery. Roughly every 10 minutes the Bitcoin code creates a ‘target’ number that the mining machines try to guess. Typically we call this finding the next block. Like many things connected to Bitcoin this is an analogy to help things be a little bit easier to understand. Although Bitcoin’s exact hashing power is unknown, it is possible to estimate it from the number of blocks being mined and the current block difficulty. Notes Daily numbers (raw values) may periodically rise or drop as a result of the randomness of block discovery : even with a hashing power constant, the number of blocks mined can vary in day. Okay, in plain English. I assume you are asking this question in the context of cryptocurrency mining. In the said process of mining, computers try to solve a mathematical problem by continually trying new numbers in an equation. Each new number g... Hashstack ™ is the ultimate password cracking software stack, designed and developed by the world's top password crackers for true password cracking professionals, and exclusively available on Terahash ® turn-key password cracking appliances.. Optimized Workflow. Modeled after Team Hashcat's own workflows, Hashstack ™ works the way you work and is designed with team collaboration at the
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