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Re: Green Array energy consumption: a reality check.

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On Mon, 20 Jan 2014 15:55:42 -0500, <mszepien@gmail.com> wrote:
> On Sunday, January 19, 2014 11:50:18 PM UTC+1, Rod Pemberton wrote:
>> On Sun, 19 Jan 2014 16:40:07 -0500, <mszepien@gmail.com> wrote:

>> > Well actually, as you alluded in your first post, it's not so much a
>> > matter of speed as of energy consumption.
>>
>> Bitcoins are first come.  I.e., whomever solves a "proof of work"  
>> problem first, gets the coins for it.  So, I'd say speed is very
>> important...
>
> I think that's actually not true, since the proof of work problem  
> involves brute-forcing a hash function and not some sequential  
> algorithm. I think speed of a single hash computation doesn't matter, as  
> long as it stays considerably shorter than the average block  
> confirmation time on the bitcoin network (calibrated to be 10 minutes).
>
> Suppose I have two machines at my disposal. The first consumes an energy  
> E1 to produce 10^6 hashes in time T1; the second takes energy E2 < E1 to  
> produce the same amount of hashes in time T2 > T1.
>

AIUI, you don't get to choose who your competition is.  Multiple computers,
or groups of them, attempt to solve the exact same proof-of-work at the  
same
time.  I.e., if this was a foot race, it's a sprint with many losers
and one winner.

If my machines are attempting to solve the same proof-of-work as your
machines, and my machines solve it first, you don't get any bitcoins.
I get the bitcoins.  Once a proof-of-work has been solved, any computers
that were attempting to solve that proof of work but failed stop working
that proof and start another.  Now, if your is working a different proof
than my machine, you might have a chance at earning some coin.  But, if
my faster machine is competing against your slower machine, you lose again,
and again, ...

Does it matter to me how much energy I consume?  Yes, but only once
my machines are sufficiently faster than yours so I earn the bitcoin.
If I'm not earning *any* bitcoin because my machines are too slow, it
doesn't really matter whether I have an energy efficient machine or
not.  I'm not receiving any coinage.  All my machines are a loss.

So, AIUI, speed matters very much.


Rod Pemberton

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Green Array energy consumption: a reality check. albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-01-12 15:18 +0000
  Re: Green Array energy consumption: a reality check. Tristan Plumb <firth@trstn.net> - 2014-01-12 17:02 +0000
    Re: Green Array energy consumption: a reality check. albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-01-12 17:27 +0000
      Re: Green Array energy consumption: a reality check. Tristan Plumb <firth@trstn.net> - 2014-01-12 22:40 +0000
        Re: Green Array energy consumption: a reality check. albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-01-12 23:03 +0000
          Re: Green Array energy consumption: a reality check. Paul Rubin <no.email@nospam.invalid> - 2014-01-12 16:54 -0800
  Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-13 02:45 -0500
    Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-13 02:54 -0500
      Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-13 02:57 -0500
    Re: Green Array energy consumption: a reality check. albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-01-13 12:32 +0000
      Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-13 09:52 -0500
        Re: Green Array energy consumption: a reality check. mszepien@gmail.com - 2014-01-19 11:01 -0800
          Re: Green Array energy consumption: a reality check. albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-01-19 19:38 +0000
            Re: Green Array energy consumption: a reality check. mszepien@gmail.com - 2014-01-19 13:40 -0800
              Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-19 17:50 -0500
                Re: Green Array energy consumption: a reality check. mszepien@gmail.com - 2014-01-20 12:55 -0800
                Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-20 16:34 -0500
                Re: Green Array energy consumption: a reality check. mszepien@gmail.com - 2014-01-21 04:49 -0800
                Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-21 10:48 -0500
                Re: Green Array energy consumption: a reality check. mszepien@gmail.com - 2014-01-21 14:37 -0800
                Re: Green Array energy consumption: a reality check. albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-01-22 19:30 +0000
    Re: Green Array energy consumption: a reality check. "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-01-27 16:26 -0500

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