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Email this9:50 am
April 6, 2013
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HermanH said
…
Overall, I propose that it does not matter, either way. If the funds all go to the creator/wand-waver, fine. My premise was, "What happens when all the coins are available?" The current system puts them out in dribs and drabs. I suggested a one-time distribution.
It does matter.
If the $500,000 I paid for a house is returned to me by the seller, then I really didn't pay $500,000 for the house and the reported $500,000 "market value" of the house is a sham.
Yes, if most of those bitcoin trades for around US$138 per 0.001 coin are actually between wallets of related people who return the money to their buyer friends, then that US$138,000 per coin market value is also a sham!
12:24 pm
April 14, 2021
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Norman1 said
If the $500,000 I paid for a house is returned to me by the seller, then I really didn't pay $500,000 for the house and the reported $500,000 "market value" of the house is a sham.
It should not matter. The amount you specified is simply setting the ground floor. A value of $0 or $500K is just the starting point.
If I can develop a new coin using DeepSeek overnight, keep all the mining/transactions privately controlled (but on public distributed network, to satisfy the perpetual digital ledger requirement), and have the maximum 21 million coins offered to the market tomorrow morning, what happens then? All 21 million are immediately available and starting at a value of $0.
9:28 pm
April 6, 2013
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Yes, it does matter. It is not a market price when there's no actual trade at that price.
If all the coins were offered in the morning, the first trades from matching bids from the buyers and asks from the seller determine the starting market value. The starting market value is not determined by any unaccepted bids or the free initial deposit of the coins into the wallet of the coin's creator.
2:57 am
April 14, 2021
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So, just offer the coins at a starting bid/offer of $0 (or as close to zero as possible.)
11:37 am
August 30, 2023
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anyone predicted Friday's stock market collapse? Any predictions for Monday or next week or next 6 months? So we know where we are headed for the interest rates.
11:49 am
April 27, 2017
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No idea but if they did then they were obviously wrong.
I’ve just checked returns so far… Its +3% in January and -1% in February.
Collapse: “to fall or shrink together abruptly and completely”. Obviously didn’t happen yesterday.
6:18 am
January 10, 2017
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As the "trading" value of BTC heads towards it's all time high once again, here is some interesting information:
"Permanently Lost Bitcoin.
Estimates suggest that between 3.7 million and 7.8 million BTC-up to 37% of the total supply-may be permanently lost. This includes coins in wallets with lost private keys or those untouched since Bitcoin's early days.
Over 6 Months (to end of 2024): Around 75% of circulating Bitcoin hasn't been moved in the past six months or more.
"
This trading supply shortage, along with T2's administration support tells me it will double or more in "trading" value over the next few years ....with substantial price dips along the way. Nonetheless, if BTC is not used by way more people & businesses on a daily basis, it effectively has no real value except for a speculative "trading" value. A real and trading value of $0 is still a strong possibility in the distant future.
6:43 am
January 10, 2017
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...more interesting info showing the accelerating waste BTC produces:
As of May 2025, the Bitcoin network has consumed an estimated 297.9 terawatt-hours (TWh) of electricity since its inception in 2009. This figure is derived from cumulative energy consumption data provided by the Cambridge Bitcoin Electricity Consumption Index (CBECI).
To put this into perspective, this amount of energy is comparable to the annual electricity consumption of countries like Egypt or Poland. It's important to note that Bitcoin's energy usage has increased over time, correlating with the network's growth and the rising complexity of mining operations. For instance, in 2024, Bitcoin's annual energy consumption was estimated to be between 141 and 160 TWh.
8:26 am
November 18, 2017
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On the other hand, increasingly wasteful unnecessary "AI" use seems poised to make Bitcoin mining less important as an energy threat...
RetirEd
10:40 am
April 27, 2017
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RetirEd said
On the other hand, increasingly wasteful unnecessary "AI" use seems poised to make Bitcoin mining less important as an energy threat...
AI is useful.
1:29 pm
March 30, 2017
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RetirEd said
On the other hand, increasingly wasteful unnecessary "AI" use seems poised to make Bitcoin mining less important as an energy threat...
AI face swap app is maybe a bit wasteful, but general use of AI is definitely not wasteful. The gemini powered google search results are largely useful and to the point.
5:19 pm
November 18, 2017
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My point (which I could have made more obvious, I admit) is that many of the AI-ballyhooed applications can be served much more energy-efficiently with simple rules-based, algorithm-based (i.e. scheduling or resource allocation) template-based methods. And more predictably, with less risk of error.
RetirEd
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