I prefer the term skeptic, and I think it's quite reasonable to be skeptical of a $1300 device capable of generating $210/day with still no proof. I think the skeptics will be much calmer once he plugs it in and verifies that it does what it says it does.
and for a limited amount of time. Bitcoins are a finite resource, once they are all mined, this hardware will be pretty much useless, as far as I understand.
Miner reward = Transaction fees + block reward
Currently the the former accounts for only 1%. This will likely change in the future (a decade or so). See here https://en.bitcoin.it/wiki/Tragedy_of_the_Commons
Comments
I prefer the term skeptic, and I think it's quite reasonable to be skeptical of a $1300 device capable of generating $210/day with still no proof. I think the skeptics will be much calmer once he plugs it in and verifies that it does what it says it does.
EDIT: Now confirmed on Jeff's blog: http://garzikrants.blogspot.com/2013/01/avalon-its-alive.htm...
Jeff Garzik has plugged it in and confirmed ~68GHash/s
http://www.thebitcointrader.com/2013/01/the-first-bitcoin-as...
> capable of generating $210/day
and for a limited amount of time. Bitcoins are a finite resource, once they are all mined, this hardware will be pretty much useless, as far as I understand.
No, not worthless because of transaction fees.
Miner reward = Transaction fees + block reward Currently the the former accounts for only 1%. This will likely change in the future (a decade or so). See here https://en.bitcoin.it/wiki/Tragedy_of_the_Commons
Actually, Moore's law guarantees that the hardware will become useless much sooner than the Bitcoin mining rewards run out.