About candy wrappers, okroshka and investment
The first time I heard about Bitcoins after reading this article on a cold winter evening. How then did I bite my elbows, then I thought something like “incomprehensible crap”, pressed ctrl-w and then buried myself in Habr.
After 2 months, a friend came to visit me at the beginning of May 2011 and said that he needed to go and buy video cards ... To my reasonable question, “nauya?” He answered that he would generate bitcoins on vidyuhah.
At that time I was thinking ... In studying this then incomprehensible substance from cryptography, economics, algorithms and finance, I disappeared for almost four days. In my head did not fit one thing - how can this be? Is there a catch somewhere? Well, this is definitely another pyramid ...
')
Of particular suspicion was the fact that the creator, a certain Satoshi Nakamoto, was never seen by anyone, and this person is more likely a mythical ...
For this, my friends and I called them candy wrappers.
Alas - none of the suspicions was confirmed. This cryptocurrency has all the necessary mechanisms for it to self-regulate.
Surely everyone already knows, but here are the main consumer properties of the currency:
In general, this thing is impossible to stop even chopping off all the root dns servers with free transactions (conditional) and anonymity.
A clear analogy with gold came to my head.
After consulting with 4 friends, it was decided to get involved in this incredible lure all together. A wrapper promptly grew, all the calculations and modeling showed that the case would burn out)))
After 4 days, Kolya and I, after a sleepless night, screwed into the wooden shelves from Ikea right on the screws, the motherboards in each of which were 3 video cards.
Money was scraped up by 29 vidyuh Radeon 6870. These were the most ROI efficient cards available on the market. 5970 already at that time bought out.
About the launch of this design, you can write a separate post - the cards are constantly overheated and cut down. All engineering problems were solved on the fly - we drove to buy coolers, screw in - monitor ... And so on ...
After another couple of days, we reached the design capacity of 10 Ghash / s. These are two of these racks, plus another 5 vidyuh rastykannyh on existing computers. The room of a comrade, who was then temporarily in Moscow time, became a server room, which was constantly warmed up by 10 kilowatts. We opened the windows, turned on the condo to the full (! Here are the morons), but nothing helped. From overheating the automatic on the mothers constantly worked and they were cut off. Uptime was no more than 80% and it depressed us greatly, because complexity grew very quickly and it was necessary to repel iron.
We moved the racks to the balcony, hung windows with a light-reflecting film there, arranged something like fresh air ventilation with ordinary fans. After another couple of days we went uptime in the region of 97%.
There is another problem. Posting could not stand. At first, each rack was smashed to different points. But it did not help. Constantly worked automatic. I had to change it. But it didn’t help much and a day later we had two brand new voltage rectifiers. We switched to okroshka - because the kettle was already impossible to turn on ... However, like any other electrical appliance.
A month later we were tired of okroshka and found a way to spread the two racks in different apartments.
After 2 months, the course began to fall heavily and the generation became unprofitable. We sold the glands for 70% of the original cost. And the generated candy wrappers remained lying ...
The guys told me that you need to fix half of at least $ 15. Now I understand what is fixed correctly.
The rate dropped to near $ 2. Selling them was pointless. Therefore, we decided to let them lie - all the more so since everyone was inclined to believe that candy wrappers have a great future.
3 weeks ago, we recorded half of what was then generated for $ 25.5 - Ie even if the entire Bitcoin economy, the money supply of which already amounts to more than 500 million dollars, will collapse right now, we will have about 25% per annum.
If we estimate the value of the portfolio at the current rate, then we get something around 450% per year.
I tell all this in order to convey several important things that I have learned from this story (despite the fact that they are obvious):
- invest if you know the subject area very well, consider the risks!
- invest only when there is a clear exit strategy. After investing, dancing is bad. The success of our event is due to the fact that we did not succumb to the temptations to play on the course;
- understand the psychology of the market. If we understood the news background of that time and would believe that the candy wrapper would fall so sharply, we would have increased the portfolio not at 8, but at 30 (!) Once a year and a half;
- invest in technology and growing markets as early as possible.
By the way, Bitcoin has steadily fixed at a level close to $ 50!
But you and I know about the fact that the approach of ASIC . And you should not indulge yourself with hopes that this will play a good deed in the stability of their course.
Arithmetic is very simple: for example, such a thing . generates 1.5 THash / s for $ 30k at a consumption of 1.5 kW / hour (which is hard to believe). With such indicators, the cost of mining will fall 30-40 times. Gold will become more affordable. We draw our own conclusions ;-)
Well, for dessert, I want to know the change in 2 years in public opinion regarding the perception of candy wrappers:
After 2 months, a friend came to visit me at the beginning of May 2011 and said that he needed to go and buy video cards ... To my reasonable question, “nauya?” He answered that he would generate bitcoins on vidyuhah.
At that time I was thinking ... In studying this then incomprehensible substance from cryptography, economics, algorithms and finance, I disappeared for almost four days. In my head did not fit one thing - how can this be? Is there a catch somewhere? Well, this is definitely another pyramid ...
')
Of particular suspicion was the fact that the creator, a certain Satoshi Nakamoto, was never seen by anyone, and this person is more likely a mythical ...
For this, my friends and I called them candy wrappers.
Alas - none of the suspicions was confirmed. This cryptocurrency has all the necessary mechanisms for it to self-regulate.
Surely everyone already knows, but here are the main consumer properties of the currency:
- complete anonymity when used in networks i2p or tor.
- cryptoresistance - trying to pick up the hash is simply not economically viable - it is better to use these powers for emission.
- free transaction is ensured by the fact that the issue and transactional support are inseparable.
- candy wrappers can be exchanged for any currency, either directly or through exchanges;
- candy wrappers can be stored as a file on your flash drive, and in the cloud (such as in a bank)
- The transaction database is completely distributed over ALL (!) who uses the network.
- Emission is carried out by anyone. This requires computational power.
In general, this thing is impossible to stop even chopping off all the root dns servers with free transactions (conditional) and anonymity.
A clear analogy with gold came to my head.
After consulting with 4 friends, it was decided to get involved in this incredible lure all together. A wrapper promptly grew, all the calculations and modeling showed that the case would burn out)))
After 4 days, Kolya and I, after a sleepless night, screwed into the wooden shelves from Ikea right on the screws, the motherboards in each of which were 3 video cards.
Money was scraped up by 29 vidyuh Radeon 6870. These were the most ROI efficient cards available on the market. 5970 already at that time bought out.
About the launch of this design, you can write a separate post - the cards are constantly overheated and cut down. All engineering problems were solved on the fly - we drove to buy coolers, screw in - monitor ... And so on ...
After another couple of days, we reached the design capacity of 10 Ghash / s. These are two of these racks, plus another 5 vidyuh rastykannyh on existing computers. The room of a comrade, who was then temporarily in Moscow time, became a server room, which was constantly warmed up by 10 kilowatts. We opened the windows, turned on the condo to the full (! Here are the morons), but nothing helped. From overheating the automatic on the mothers constantly worked and they were cut off. Uptime was no more than 80% and it depressed us greatly, because complexity grew very quickly and it was necessary to repel iron.
We moved the racks to the balcony, hung windows with a light-reflecting film there, arranged something like fresh air ventilation with ordinary fans. After another couple of days we went uptime in the region of 97%.
There is another problem. Posting could not stand. At first, each rack was smashed to different points. But it did not help. Constantly worked automatic. I had to change it. But it didn’t help much and a day later we had two brand new voltage rectifiers. We switched to okroshka - because the kettle was already impossible to turn on ... However, like any other electrical appliance.
A month later we were tired of okroshka and found a way to spread the two racks in different apartments.
After 2 months, the course began to fall heavily and the generation became unprofitable. We sold the glands for 70% of the original cost. And the generated candy wrappers remained lying ...
The guys told me that you need to fix half of at least $ 15. Now I understand what is fixed correctly.
The rate dropped to near $ 2. Selling them was pointless. Therefore, we decided to let them lie - all the more so since everyone was inclined to believe that candy wrappers have a great future.
3 weeks ago, we recorded half of what was then generated for $ 25.5 - Ie even if the entire Bitcoin economy, the money supply of which already amounts to more than 500 million dollars, will collapse right now, we will have about 25% per annum.
If we estimate the value of the portfolio at the current rate, then we get something around 450% per year.
I tell all this in order to convey several important things that I have learned from this story (despite the fact that they are obvious):
- invest if you know the subject area very well, consider the risks!
- invest only when there is a clear exit strategy. After investing, dancing is bad. The success of our event is due to the fact that we did not succumb to the temptations to play on the course;
- understand the psychology of the market. If we understood the news background of that time and would believe that the candy wrapper would fall so sharply, we would have increased the portfolio not at 8, but at 30 (!) Once a year and a half;
- invest in technology and growing markets as early as possible.
By the way, Bitcoin has steadily fixed at a level close to $ 50!
But you and I know about the fact that the approach of ASIC . And you should not indulge yourself with hopes that this will play a good deed in the stability of their course.
Arithmetic is very simple: for example, such a thing . generates 1.5 THash / s for $ 30k at a consumption of 1.5 kW / hour (which is hard to believe). With such indicators, the cost of mining will fall 30-40 times. Gold will become more affordable. We draw our own conclusions ;-)
Well, for dessert, I want to know the change in 2 years in public opinion regarding the perception of candy wrappers:
Source: https://habr.com/ru/post/172327/
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