The bitcoin network hashrate estimate on bitcoinwatch.com passed 1 exaFLOPS (1,000 petaFLOPS) this week – over 8 times the combined speed of the top 500 supercomputers. Experts will be quick to point out that this estimate is flawed, since no FLOPS are actually used in bitcoin mining. FLOPS stands for FLoating-point Operations Per Second, and is frequently used as a standard to measure computer speed. Bitcoin mining uses an integer calculation and almost no floating-point operations, so converting bitcoin network speed to this standard is somewhat clumsy.
Markets frequently see periods of low volatility and consolidation around a price level before making large moves higher. These consolidations help establish a foundation and confidence around a given price and burn off resistance sellers. There’s also another analogous situation unfolding: the current price level is roughly 50% of the peak high in April. The 2011 high saw consolidation around the 50% mark, at $14.
“I don’t have a background in cryptography, and get a little confused when looking through what actually happens in a bitcoin transaction. How do I know that no one else can spend my bitcoins? Is there any way someone just use my address to figure out my wallet?”
- Eric from Norway
thinksquad:
Cars, people in the Skagit River after I-5 Bridge collapse
The Interstate 5 bridge over the Skagit River collapsed Thursday evening(5/23/2013), injuring an unknown number of people.
Both the northbound and southbound portions of the bridge dropped into the river sometime before 7 p.m., according to Washington State Patrol trooper Mark Francis.
Francis said several cars were on the bridge when it collapsed, and some are now in the water.
http://www.komonews.com/news/local/Cars-bodies-in-Skagit-River-after-I-5-Bridge-collapse—208760201.html
le sigh.
On the bright side … looks like it’s time for those infrastructure investments to start paying off.
In this open letter to all Bitcoin businesses and future businesses, I want to draw some attention to issues concerning transparency towards Bitcoin customers. The main motive for writing this letter is my recent confrontation with extreme delays and unexpected fees at Mt.Gox.