Bitcoin value exceeded historical record $ 266 / BTC

    Thus, the value of all issued Bitcoins exceeded $ 3 billion (or 100 billion rubles).

    The reason for the recent growth has been a series of positive news:

    • Silkroad is closed - which means the argument “Bitcoin is only suitable for drug trafficking” will be more difficult to use.
    • Confiscated money (and the FBI already owns 174 thousand bitcoins) - can disappear from circulation, reducing the money supply.
    • Chinese Internet giant Baidu has begun accepting payments in Bitcoin.
    • And of course, a slight hysteria overseas abroad about the possibility of a US default only half a month ago.
    • Traditional speculation.

    Of course, Bitcoin will collapse more than once, but cannot but rejoice that after each fall it rises higher.

    About the growth of complexity

    The last half of the year there has been a massive input of capacities on specialized processors - Avalon, Bitfury, BFL and others. This led to a truly fantastic increase in complexity. From a technological point of view, it remains to take one step - 20-28nm technology with a full-custom design, and there will be no more opportunities to increase the speed of mining.

    A graph with a logarithmic scale looks like this:

    The network calculation speed for 2013 increased ~ 100 times.

    Can Bitcoin be broken by supercomputers now?

    Naturally, these are very crude calculations, it is clear that supercomputers are designed for other tasks and 64-bit arithmetic, however, the scale is impressive:

    The current Bitcoin network performance is 3653 THash / sec, which is approximately equal to 46396 petaflops. While someone is just talking about exaflop class supercomputers, the Bitcoin network is already doing 46 exaflops (* 10 18 , billion billion) per second.

    For comparison, the fastest supercomputer in the world has a performance of 33.8 petaflops, more than 1000 times less.

    Bitcoin Price Survey

    The previous survey on the price of bitcoins was half a year ago, when the price first exceeded $ 100. I suggest repeating:

    Only registered users can participate in the survey. Please come in.

    What do you think will be the price of bitcoins in a year, in November 2014?

    • 13.6% Bitcoin is worth nothing, because there is no real economy behind it, it is about to collapse and will be sold like dirt, at 0.1-1 $ 258
    • 2.2% 5-10 $ 43
    • 7.5% 50-100 $ 142
    • 12.5% ~ $ 250, as of now 237
    • 26% 500 $ 492
    • 7.1% 5000 $ 135
    • 1.9% 50,000 $ 36
    • 14.1% The course will grow unlimited, as Bitcoin mass volume is fixed, and hyperinflation awaits dollars 267
    • 8.6% There will be a force majeure that will kill Bitcoin (loss of Internet connectivity, repression, world nuclear war) 163
    • 6% “break it” through super-avalons, capturing more than 50% of computing power 114

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