How does something like this happen? 1 minute block time isn't long enough?
This is an issue because a pool had 90% of the network hashrate. It is not an issue with the coin itself. This is why a pool should not be allowed to have more than 50% of network hashrate. Vern will be awake soon and it will be fixed. What is the pool supposed to do if people flock to it? Arbitrarily look at network hash vs pool hash and kick out people until the hash rate is low enough? If this pool ended up with 90% of the network, it'd have to dump 8/9's of it's hash to be under 50%!!(Don't try to say 45%, cause the kicked ones would not immediately reconnect to a different pool, so that would not work) Also, who do they kick? The biggest? The smallest? |
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I gave this guy negative trust and suggest others do the same. |
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GmTWqzocHfQF8KWfrZ9pM8uyT5tJ2mgX1h
Cheers
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Thats why the world is falling apart, people ignore common sense and ignore others with more insight...
This is the first coin with a PoW that has scientific value and is not JUST a waste of electricity and all you can say is Scam cause you didn't hink of it first. I agree with the above posters, STFU and go away |
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175027-175037 were all mined by the old attacker in succession, using address 13kfKR1BS9gtsxppMeqDTx4rAvbwWjvYSL. This address accepted a deposit from 1PAnMKuTs9R4U9FF7xdQSmQc655d2r9zeB at block 174999. Looks like he is still affecting the network and still orphaning massive blocks.
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Any earning estimations for 10,000pps X 24 hours at YPool.net?
I have ~10k PPS across 4 systems. At ypool I had earned about 2 XPM per day. Running the client alone the last 4 days I have found 3 blocks. I see both of those as a loss at .08 BTC per day. |
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Please check that you're using the latest SDK. I also encountered memory problems with cuda 5.0 and I'm using 5.5 now which works for me.
Just curious, have you looked at the Mfaktc source code at all? While it is used for trial factoring Mersenne Primes, which may not be helpful, the writer did get it to sieve completely on the GPU, which may. |
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I'll agree that the prices were denominated in USD. That is not important at all. What is really important is what currency is mentioned on the commercial invoice. This is the official document that every court of law is considering if there is a litigation. There are two currencies on the BFL's invoice which means both are equally binding depending on the currency of the transaction. If you paid in BTC the currency of transaction is BTC. BFL is trying to convince me that transferring BTC to BFL I have actually purchased USD... No. If I wanted USD I'd have transfered my BTC to MtGox, not to BFL. On top of it, BFL has no right to exchange BTC into USD for their customers as they are not licensed as currency exchange. Here it is the invoice: What??? The currency on the invoice is dollars. You chose to pay in bitcoin, so they informed you how much it would cost in Bitcoin, because they will then likely convert those BTC to dollars. Their a US company selling product denominated in US Dollars. Someone buying their stuff in Euro would also have seen their money get converted to dollars - should they demand a refund months later, they would only be able to expect to receive dollars back, which may or may not convert back to the same amount of Euros. Next, what are you talking about exchanging BTC into dollars? They sold you something in USD. You paid in BTC. They converted the BTC to USD. If they're not allowed to convert BTC to USD, how can they order parts, pay overhead, pay taxes or anything else? Regardless, FinCEN is QUITE clear that a company selling an actual product for BTC is not a currency exchanger. This is something that goes both ways. Hind sight is 20/20 and everyone has to stop acting as if they were so much wiser than they actually were. If you knew that BTC would be worth what it is now, then shame on you for selling them back in June. What about that guy who paid 10,000 BTC for a pizza? Or are you saying that if BTC had instead fallen to 60 cents and Butterfly Labs cancelled all outstnding orders and returned to each customer the exact number of Bitcoins they had sent in, that you'd be 100% OK with it? Of course you wouldn't. Lastly. Your little icon with the ant crawling. Everytime I see it on my screen, my first instinct is to wipe the bug off my screen. Would you mind changing that, maybe?  +1 When I read the invoice statement, I had the same thought and you nailed it on the head. While BTC is a crypto currency in it's own right, it is like any other currency/stock/asset in that it has worth in USD, which is what the BFL miners were priced with. It would not matter if you paid Rubles, Francs, Euros, Pounds, Yen, Dinar Silver, Gold, BTC, LTC, your new car, etc. for a BFL product, as it was converted into USD and used as has been mentioned many times before to pay for chips, boards, cases, office supplies, salaries, power supplies, utilities, etc. Your petty little "Gee, I sold stock to speculate on something that took longer than expected and now that the stock price has skyrocketed, I'm suing the Company for the earnings I would have made if I hadn't sold it to buy this product" is a huge pile of manure. If BTC were worth $1 right now and they insisted on repaying you in BTC your tune would be far different. |
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Regardless how you measure the bottom line, the promises made versus what was delivered have both heaven and hell between them. People who paid with BTC lost an immediate opportunity, but I'm sure they won't mind waiting an exponential to infinite amount of time to mine their 200 BTC back, in sight the ever increasing difficulty. Considering, too, that there is a direct correlation between BTC and $ in this transaction, the fluctuations in trade values have to be included in the calculations as well.
I'm not sure what your point is. Again, we're back to hindsight is 20/20, and Bitcoin itself would have been a better investment than miners. People who pre-ordered mining machines back in June 2011 obviously thought they would be a better investment than Bitcoin itself, took the risk, and have thus been proven wrong. They will still make a profit, but will not make as great a profit as they would have had they simply saved or invested in Bitcoin itself. You are still wrong man. That's assuming that people get their devices and are able to mine back the BTC that they used to pay for it. At this point, you have a recovery of %0.5 recovery a day, and dropping. Dropping exponentially. In 15 more days, it'll probably be closer to %0.1 and then 15 days after that %0.05. In 200 days you still will be at something like %45.764742155 recovery, earning %0.000005 BTC a day. Get it? The earlier you got in on BFL (paying with BTC), the more screwed you get coming out. Definitely more so than cash spenders. Avalon was the way to go. Actually, anything BTC related that wasn't a scam was the way to go. Obviously. I'm not wrong. I bought two miners for $2,600 worth of Bitcoins. I could have instead invested that money in Bitcoins (by not spending it). I will make way more than $2,600 with these miners, so I will definitely make a profit. If I had invested in Bitcoins at the time, I could have more profit than I would have made if I had not purchased these miners. Bitcoin would have made a better investment, but I am still profiting with these miners. There is functionally ZERO difference between someone who bought a $1,300 miner with BTC and someone who bought a $1,300 miner with USD. Both had equal opportunity to invest that money in BTC instead of miners. If the one who bought with BTC had instead kept his money in BTC, he would have around $23,400 today. If the one who bought with USD had instead invested that $1,300 in BTC, he would have around $23,400 today. You make a very good point here, but there are some other thing to be considered: How many of the people who paid $2600 in BTC for these miners would not have spent it on something else? What if you were holding stock instead of BTC and decided to sell it for $30 a share to make a $1300 purchase, would it be fair to blame the company you bought from if the stock then rises to $100 a share? It's not like BFL held onto all this BTC they were paid, they had to sell it or use it in their purchases. |
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People who pre-ordered mining machines back in June 2011 obviously thought they would be a better investment than Bitcoin itself, took the risk, and have thus been proven wrong. LOL... The only reason they have been proven wrong is because BFL failed to keep their side of the deal. BFL failed to deliver what they've been paid for. Moreover, customers don't take capital risks. Investors do. Are you saying BFL customers are investors?! Technically they were investors as it was known at the time that BFL did not have this technology in hand and would be creating, testing and perfecting it. Purchasing something that you KNOW is in development is an investment into the company to produce said items. Look at ASICMiner, originally he set out to build units for sale, but then decided to mine with them instead and pay out dividends. @Sgtspike I believe you mean June 2012, as they were not offering ASICs in 2011. I myself didn't order until June of this year, and unlike the majority of people I see whining, I am content to wait as I know they are in production and I will get what I paid for. I daily laugh at the comment of people crying because 'they are losing out on potential mining profits' all because BFL is a scam. Since BFL *is* shipping, they aren't a scam. They may have been too optomistic about what they could produce and when, but they aren't a scam. If they were truly a scam, no one would have received a single piece of equipment and they would have vanished into the night never to be heard from again. Let's look into this 'loss of mining profits' a second though. Let's assume BFL did fulfill they expectations and shipped back in Nov or Dec last year. Boom, network difficulty skyrockets. Conservative estimates from just using people who listed their orders are that over 1 PetaHash of speed would have been added to the network from the 1st 6 months orders. Imagine that the network speed jumped by 50x in December 2012. GPUs would be worthless for BTC now and altcoins would be flooded with them, causing their difficulty to also rise. Guess what though? BTC is < $30. People anxious to recoup their investments are dumping their coins and prices drop (sound familiar? BTC dropped from $120 to $60 after the network hash almost doubled in the last 2 months, it has since rebounded to about $90). The dynamic has shifted though and ASIC mining is the only way to go, only with the network hash where it is, ASIC cost is getting prohibitive. Now where are we though? Would Bitcoin have taken off in April if ASICs ruled the market and the average Joe would have to spend tens of thousands of dollars to be competitive? Would we still have dozens of alt-coins to play with? None if it matter thou, cause it is all speculation abiout 'what if....'. There are a lot of people who would not now be in BTC mining if ASICs had come out on schedule cause it would never be worthwhile unless BTC could somehow spike to $1000 or more. |
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Is such a thing even possible?
There are plenty of websites where people are selling BTC for PP, but I'd bet most of them are either complete ripoffs or scams. 1) they are asking for 125-200% of current BTC values, 2) they advertise on the PTC sites where people are trying to 'earn' miniscule amounts of BTC for visiting websites, 3) the sites are very basic and probably thrown together in less than 10 minutes. I'd sooner buy off of EBay than these sites, and I'd only buy there after making sure the transaction isn't somehow frowned upon by EBay. Having never bought BTC I have no recommendations where to go, but I'd look at the exchanges like BTCe or MtGox and see what payment processors they use if I were looking at buying. |
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Interesting website, you may want to rephrase it a bit, 'every 2nd coin wins' is confusing and should be something lilke '1 in 2 chance of winning'.
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As with anything computer-related, bitcoin security is only as high as your own personal habits. A lot of people have no clue when it comes to security, and they are the ones liekly to get bitten. The problem comes from high-tech 'toys' that 90% of people don't really understand fully, but 'have-to-have' since everyone else does. Bitcoin is the new fad, so the Paris Hiltons of the world will flock to it until they space out and lose their keys or get bored and run to the next thing in line.
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I have been lurking for quite a while and decided to register. More a reader than a poster |
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