There are philosophical argumens for and against both methods of counting claims, and of course each client will find one of them fair.  The question is which one will Mr. Kobayashi use.   Some people claim what he has no choice given the laws and precedents, some claim that he may choose either one.

Since there have been no comments about this issue (and surely there will be, whatever the choice), It seems that either no one thought of asking that question at the meeting, or it was asked and he refused to answer.


If bitcoinbuilder's CEO believes that he is the current legal owner of some GOXCoins, because he bought the rights to them off-exchange from MtGOX clients, I suppose that he should  submit a claim with proof of those purchases, and it will be evaluated like the other claims.  Under one interpretation, I suppose that he would claim to be the rightful owner of a certain number of BTC in the balances of those clients' MtGOX's accounts.  Under the other interpretation, he would claim to be entitled to (some fraction of) whatever those clients deposited, minus whatever they withdrew, over their history at MtGOX.

It depends, which branch of the question chain is the good one now?

Did you aim at it while drunk?

But (as many others have pointed out), if one believes that the price will rise enough at some future time, why not just buy bitcoins on the market, rather than mining them for a cost that is higher than their market price?

No, not for that reason.  If true, it means only that there is excess supply of hashing power at this point.  The system has yet to find the free market equilibrium.  It can hardly do that while the price does not stabilize.  Meanwhile, miners may run into substantial losses or gains.

But solar power is not free, one has to pay for the panels & electronics.  AFAIK the cost of solar electricity, once the installation costs are included, is still higher than that of grid power.

And you will also need hefty batteries to run multi-kW miners 24/7.

I had a hangover once, and since then I wondered: why do some people try to repeat the experience?

One important question that I have yet to see answered is how the claims are to be computed.

Many clients seem to assume that the amount they can claim is simply the BTC and currency balances in their MtGOX account, by the time the site was shut down (or at some earlier date).

However, some people who claim to be familiar with bankruptcy cases have claimed that the standard procedure in such cases is to ignore the balances (which are fictitious anyway, since they are the result of trading coins and money that did not exist), and define a client's claim instead as being only the amounts he deposited minus the amounts he withdrew, summed over all time, converting BTC to JPY by the market price at the moment of deposit or withdrawal.

Obviously the two methods will give very different results.  A client who has a huge claim under one interpretation may be excluded under the other, and vice-versa.

Was any information offered recently about which method will be followed by Mr. Kobayashi?

I know what it mean to be 'drunk', but what does it mean to be 'what'?

Good words.  But legend tells that a King once consulted a famous Oracle about waging war to a rival, and the Oracle had a vision of him destroying a great kingdom.  So the King went all confident to war, and the Oracle was soon proved right -- only with the wrong kingdom, of course.

Does that cost include the hardware cost?  (I note that 365.25*(8.80 - 2.18) = 2418 $/year/TH/s, correct?)


Why? I would think that the bigger farms are able to keep their equipment more up-to-date than small miners, and threfore have better efficiency.  Is it the other way around?

By that, do you mean a simple question that may have a complicated answer, or a question of arbitrary complexity that has a simple answer?
 

Wow! I graduated in Electronics Engineering, does it mean that I am smarter than you guys?     

So, if you are careful to do that only from a Starbucks, you will never get caught. 

Seriously, Ross was caught much before that.  The library event was just a convenient point to close the investigation.

I saw it stagnate at the last reward halving, maybe I did not look far back enough?

People are misreading the news and getting all sorts of fantasies about GABI.

Read carefully. What they said is Jersey is going to sell 200 million BTC to GABI who will give them out free to all Bitstamp traders who wear a red "KEEP CALM" T-shirt and buy some weed from Newegg, starting September 1st.

Well, OK, that is not what the news said either... but who cares about the truth in this community? 

The protocol gives out ~3600 BTC daily to miners, no matter what bitcoin is doing.

Each miner gets, from that amount, a slice proportional to his hashing power.

Hence every miner will try to get as much hashing power it can, as long its cost is less than what it earns.

Those with the most efficient equipment (or who steal equipment, or steal electricity) can reinvest more and grow faster.

Hence the hashrate will keep increasing nonstop.

So what?

Tripping through IBM’s astonishingly insane 1937 corporate songbook

(Thought someone here might find it fun...  )

Why would it energy?

Luca Cardelli, a language typesystem theorist at SRC, used 'bool berry' in his papers as the name of a derived type from 'bool' (boolean).  I drew a cartoon for one of his papers, where that name appears:
http://lucacardelli.name/Artifacts/Drawings/DynamicTypecheck/PolyCandyCartoon.pdf
http://lucacardelli.name/indexArtifacts.html

The cartoon may give an idea of the puns that were intended ('str' was a character string type).