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GBiT

726 karma · joined January 5, 2012

Just a guy from LT
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GBiT··on Bitcoin Energy Consumption Index
800M is not to run the network, its hard money. If 1 mb limit was removed today, this network can handle loads of VISA and more. Electricity is spent to create new blocks... Hard work is done to create new Bitcoin and verify transactions.
GBiT··on Bitcoin Energy Consumption Index
Miners can choose to include more profitable transactions, skiping segwit ones.

POS will not work. you need to back Bitcoins value with something, and its electricity. Gov backing with gold.

GBiT··on Bitcoin Energy Consumption Index
Well... Right now we have blocksize limited to 1 mb. If we will remove this limit and Bitcoin becomes a global currency, we can earn a lot from transaction fees. nChain estimates about 0.05 for a transaction if it will became us big as VISA. If you interested where is one youtube video talking about possible fees.
GBiT··on Bitcoin Energy Consumption Index
Energy is whats backing Bitcoins value. You need a lot of energy to create this valuable document - block
GBiT··on Bitcoin May Have Solved Its Scaling Problem
Bitcoin CAN scale globally right now if remove 1 MB cap. If someone doesn't want to hold every transaction of blockchain they can use pruning, and some us us use it already.

For a simple user, it's not worth to keep all blockchain, because it does not matter. they can't change it or include transaction into a new block if they not mining.

GBiT··on Bitcoin May Have Solved Its Scaling Problem
Right now mining equipment cost thousands of dollars... so for real, they can spend a few bucks on hardware.
GBiT··on Bitcoin May Have Solved Its Scaling Problem
You don't need to hold every transaction why do you think you have to keep all blockchain? Right now you can use pruning on a client like Core ar Unlimited or you can use light clients like Electrum.
GBiT··on Crypto-currencies have lost 30% of their value in the last 3 weeks
It's not profitable to mine Bitcoin, but we have about 1000 others, and some of them to mine right now is very profitable.
GBiT··on Ask HN: What's a side project you built to make money that hasn't?
I started niche scanner reviews blog https://www.scanviews.com but it not working from 10 posts I wrote with my not native English language. It's not working. Idea was to make gsmarena alternative for scanner and digitalization reviews. I'm getting like 1 cent per month from it.
GBiT··on Silicon Graphics, Craig Wright, and the Untold Story
CoinGeek took from him interview, and now pushing series including analysis of it.

And about PGP key... If you took a look at his appearance in Future of Bitcoin conference, you understood, that actually, he signed with fabricated key Nobel prize winner, additional to that, if you took a second to read that text, you understood, that he don't even had intention to sign with real key.

GBiT··on Njalla – A privacy-aware domain registration service
Main selling point of Njalla is that one of its founders is ex ThePirateBay guy, Peter Sunde who fights for privacy and creating privacy related services. He is a co-founder of Flattr. So it is more of a trust service.
GBiT··on Ask HN: Solo founders, what do you struggle with the most?
We have a huge problem with invoicing. We have this problem right now for like 2 years and it struggles us to scale. We sell services. We have about 40 of them and with every customer we sign agreement with different pricing on same services, due to B2B nature. We have some recurring services and some additional depending on usage. It is hard to write invoices every month for us, because we can't find right billing solution.

We are looking for something like this: Then we sign agreement with customer, we create template/profile with prices and services on billing system. Then we provide services, we just add/register quantity to that template/profile. At the end of month system writes invoice with recurring service and added additional not recurring services to invoice. It means one invoice for recurring and not recurring services.

GBiT··on WhatSim, a SIM Card for WhatsApp
Rates - http://www.whatsim.com/en/rates
GBiT··on Show HN: VirtKick – Self-hosted Digital Ocean
Website offline, github page - https://github.com/virtkick/virtkick
GBiT··on Server Migration with Zero Downtime
You could just enter new servers mysql login info to old server and work from both servers on new DB. Old server would be slower a bit due to mysql request have to travel long way, but it would be a few times easier and faster.
GBiT··on Show HN: I lose things constantly, so I built this service
You show picture on website with ID 123456. Right now if I enter this number I'm getting error. You should make it DEMO.
GBiT··on New RFS: One Million Jobs
I live in Europe, baltic country. you can get a lot of workers to work for 10k/year. for 20 it can be almost top level workers.
GBiT··on Swiss ISP init7 launches unlimited symmetrical gbit FTTH for $73/month
In Lithuanian FTTH 500 mbit connection is only 23 euro or $31
GBiT··on Ask HN: How to set and achieve goals in small startup?
Hi, Its business development question.
GBiT··on Goodbye Popcorn Time
Goodbye Popcorn Time, hello Popcorn app - https://github.com/yify
GBiT··on Bitcoin withdrawals are once again fully automated
MtGox team can easily do arbitrage trading. They can buy a lot of bitcoins for half price at mtgox market, transfer them to bitstamp and sell (they admins, they have options to do it by hand). In a few minutes they can earn 100% from arbitrage trading.
GBiT··on Winamp shutting down on December 20th, 2013
Please open source it. It is still best player around with classic skin.
GBiT··on Unnoficial design concept for Windows 9
Windows had to give us choice to use old windows 7 style, or windows 8 style for touch. Right now for enterprise I see, that for companies it is no difference to teach how to use Ubuntu or new windows 8. Windows 8 put OS from leader position on PC to mobile OS for touch devices.
GBiT··on Free HTML Starter Templates for Bootstrap
Congrats! It really good idea to make starter templates. Your project creating big value and can have good future if you add templates regular.
GBiT··on Logo, Bullshit & Co., Inc.
Twitter for its first logo paid 15$
GBiT··on I got access to all of BitTorrent Inc's source code and sensitive documents
You have to be proud of yourself for not abusing it no mater how they responded. You did right thing here. Hope Bitorrent Inc will fix this misunderstanding.
GBiT··on OVH launches 2.99€/mo dedicated servers (2G RAM, 500G disk)
100 mbit up until 3 TB, later 10 mbit cap.
GBiT··on My Startup has 30 Days to Live
Is it legit? I saw a few 30 days left to live stories here, now 30 days for startup to live. Is it PR shit or real deal? If you fire employee you must pay compensation, so how can you not able to pay his payroll of week? If you fire him it will be more expensive then one weeks payroll.
GBiT··on Ask HN: Advice on how to best spend $3,000
1. You dont need to buy servers. You can resell them from other providers like Leaseweb, OVH, Softlayer. They will give you bigger discount with every new client. And then you be big company, you will start to do your own servers.

You will save time on managing server, money on bad hardware etc..

2. Make good website. Really good, current looks like crap.

3. You can use WHMCS for managing billing and servers, VPS, etc.. it will be enough in the beginning. Monthly license only cost 18$/month, and lifetime 350$

GBiT··on [dead]
This is second post in two days[1] and about 10 times[2] it was submitted before you. A few times on homepage.

I dont think it can be used for mainstream, just one time attraction, but from so much re-posting here I can be wrong

[1] - http://news.ycombinator.com/item?id=5813596 [2] - https://www.hnsearch.com/search#request/all&q=geo+bootst... and http://news.ycombinator.com/item?id=5508061

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