PlexCoin: Scam or BitCoin killer? - Page 2 - RedFlagDeals
Estimating the marginal cost of a transaction on the Bitcoin (Cash) network
Recently, the mempool has not been clearing with every block found. Should we immediately raise the block-size? Perhaps put plans to make the easy relay of sub satoshi/byte transaction on hold? Assumptions:
The marginal cost is made up of: hard-drive space (replicated world-wide), bandwidth relaying (also world wide -- partial fixed cost?)
Expanding the UTXO set incurs a further penalty, based on the price of RAM.
Mature network needs about 1000 mining nodes world-wide. Further, these mining nodes avoid the "tragedy of the commons" problem by charging a proportionally higher fee if they are less likely to get a block.
The following are fixed costs: Hashing equipment and maintenance, Space rental, electric, cooling, staff, etc.
I will neglect the CPU time required to validate a transaction since I have no good way to estimate that.
Assuming 1 CAD is 80 cents USD
Based on this discussion thread I am going to assume 8GB blocks to approximate the limit as the number of transactions go to infinity. Note: Chassis I chose only supports 300TB after parity.
Step 1: find the price of storing a transaction Searching NCIX:
As you can see. miners have a strong incentive to offer free UTXO consolidation transactions: and require bulk UTXO fanning transaction to pay a fee of 494.86sat/kB -- about 0.5 sat/byte. ((0.01249USD/kB)/(2523.96USD/BCH)*100,000,000sat/BCH) Fees are no where near that high due to the block subsidy. For an 8MB block: 1,250,000,000 satoshies/ 8000 kB -> 156,250sat/kB; or more conventionally: 157satosies/byte.. Note that the block subsidy per kB goes down with larger block-sizes. Step 2: Estimate Bandwidth costs Disclaimer: I am not too familiar with commercial bandwidth plans
According to slide 19 on this PDF document, you should be able to get IP transit for less than $10/Mbps in major cities (10GB-ethernet pricing).
Let's assume you budget 1Gbps of IP transit for your full node. You are also sharing with at least 8 peers. -> $10,000 USD/month
8GB blocks work out to 34.560TB/month x8 -> 276TB/month
That implies a utilization of: 64GB/600s*10bits/byte -> 1.066 Gbps -> we need a 10Gbps connection.
Cost Per kB: ($100,000/month)/(34.560TB/month)/(1,000,000,000kB/TB) -> 2.89 microdollars/kB (rounding error, unless I messed up the math)
Edit: If we assume the miners average their costs (like earlier) x1000: 2.89Mills/kB (57x the storage costs)
Exercise to the reader: Re-do these calculations for hobbyist hardware and internet connections. You probably have to assume a smaller block size: such as 100MB. Disclaimer: I later learned the site I was using for prices (NCIX) was bankrupt. Not sure how much that would skew prices.
https://mining-coins-7537.s3.amazonaws.com/1/1-bitcoin-buy-bitcoin-new-jersey-how-to-make-a-litecoin-mining-pool.html Get Your Computer Supplies Including Cable Adapters, Repair Kits At An Affordable Price. Computer Repair Tools & Parts Available. Call or Order Online Now! Newegg is proud to offer United Kingdom the best prices, fast shipping & top-rated customer service for Computer Parts, Laptops, Electronics and more! play_circle_filled Latest From Linus Tech Tips: This Sounds Too Good to be True - God-Tier Thermal Pad. Watch Now; More Videos With this simple Bitcoin preev 1 BTC in USD =. Calculate how much your Satoshis are worth in bitcoin and USD. Simply keep this site open and see the live Bitcoin price in the browser tab. Preev also offers conversion for litecoin, bitcoin calculator usd peercoin,Bitcoin Tax CalculatorBitcoin Mining Calculator is an advanced calculator to estimated the bitcoins will be mined base on mcx gold
The Long-awaited bitcoin mining calculator is now here don't read below or else If you turn on the 🔔 i will be very happy please im begging you ---[👌]-[socia... Bitcoin 101 - A Million Killer Apps ... NCIX Tech Tips 1,376,815 views. 6:25. ... Calculadora Bitcoins, Calculator Btc, Ltc, Doge y Otras 2015 - Duration: ... The main function of a Bitcoin calculator is to compute how much processing power it will take to generate Bitcoins with a given hardware setup. Because of the deterministic nature of all the ... NCIX Tech Tips viewers get 50% off Synergy! https://symless.com/synergy/ncix1 Cryptocoin mining is back in the spotlight - but before you jump into building ... Every time we send a bitcoin transaction, we pay a fee relative to its size. Strangely, this has almost nothing to do with how much money is being sent -- the blockchain world just isn't that simple!