Tuesday, December 3, 2013

The Amount Of Computing Power Dedicated To Mining Bitcoin Has Gone Parabolic



Bitcoin mining is becoming a serious business.

This chart, from Bitcoin wallet service and block explorer, shows the amount of computational power worldwide dedicated to Bitcoin mining — the process of maintaining the public ledger of all Bitcoin transactions, and of being rewarded new Bitcoins for participating in this process.

 In just the last few months, this amount has exploded:


The chart shows the number of "gigahashes per second" being processed on the Bitcoin network.

 A hash is a cryptographic function that takes a large amount of data and generates from it a much smaller number. This is done in such a way that a very small change in the original piece of data will result in a very different hash number. 

Hashes are thus used in cryptography to show that a piece of data has not been tampered with — if the data has been altered, it is easy to see this, since the changed message will give a very different hash number than that of the original message.

Hashing is at the heart of the Bitcoin mining process

Miners assemble "blocks" consisting of Bitcoin transactions, a hash record of the prior transaction block in the "blockchain" — the public ledger of all Bitcoin transactions — and an extra randomly assigned number. 

The miner then repeatedly hashes the block, making a small change to the extra number with each repetition, until the hash number satisfies a rare criterion. This process will take, on average, an enormous number of repeated hash steps to get a hash number satisfying the criterion. 

Once that criterion is met, the block is added to the blockchain, and the miner is rewarded with her new Bitcoins.

The insanely rapid growth of the chart shows how the tech race in Bitcoin mining has heated up recently. 

As of this writing, there are computers around the world performing about 6,900,000,000,000,000 hash operations per second. 

This is about a ten-fold increase in computing power dedicated to Bitcoin mining since September, and about a 275-fold increase from the start of 2013. 


The Mexican Mango Exporter's Association (EMEX) is meeting in Riviera Maya on the Caribbean , to discuss plans for the future of the mango industry:

The 18 Most Corrupt Countries In The World


More: Corruption

DEC. 3, 2013, 6:33 AM 


Transparency International has published its 2013 Corruption Perceptions Index (CPI), which ranks countries and territories based on how corrupt their administrative and political institutions are perceived to be on a scale from 0 (highly corrupt) and a 100 (very clean).

Compiled from a combination of surveys and assessments of "the abuse of entrusted power for private gain," the CPI is the most widely used indicator of corruption worldwide.

Syria, in the midst of a brutal civil war, dropped eight points in the last year as government officials profit from the food crisis.

Libya, in the midst of post-revolutionary turmoil, dropped six points to surpass Iraq in official corruption.

Here's the top 18:


Denmark, New Zealand, Finland, and Sweden are list as the four least corrupt countries while the U.S. came in 19th.

And here's an interactive version of the map:

SEE ALSO: The Four Least Corrupt Countries In The World

Read more:

The Top 10 Future Predictions by Michio Kaku

Filed under: Future Predictions by futurepredictions 

December 2, 2013

In a recent article in the New York Times by Michio Kaku, he really expands his views on a fast changing landscape of wonderful things to come, access to the article link is below:

Image Credit:

A Scientist Predicts the Future

The New York Times Company
Published: November 28, 2013

4. Capitalism Will Be Perfected

5. Robots Will Be Commonplace

6. Aged Body Parts Will Be Replaced

7. Parents Will Design Their Offspring

8. Cybermedicine Will Extend Lives

9. Dictators Will Be Big Losers

10. Intellectual Capitalism Will Replace Commodity Capitalism