If we cannot withstand an attack, then there is really no point in any of it.
The network can recover. Will the public's trust? Which public? The majority of geeks that are using it? Or the minority of clueless people who don't care about topics like this? Maybe the significant majority of liquidity providers who joined....you know, your lost-future buyers. Yeah, their trust, and those in their web, bye-bye. Closed-minded nerds never had any trust to contribute. |
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An attack is one thing...blind ignorance is another.
You can survive russian roulette too...5 out of 6 games. Better to use the gun when you need it, not on yourself.
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[Tycho], any chance you will lower your hashing rate?
Or even better, make your fee go up as hashing rate increases, so we reach a nice equilibrium? It's not like my hashing rate is rising, it's network block generation speed is low today which causes pie chart to look more scary than usual. Create a good pool, make a better offer to bitcoin miners and they may switch. That's how competition works. It's easy to make a pool with lower fee, there is even an open source pool software available. And that's not the only option. Why not create more ? There will be a LOT of new miners soon. Don't make me say my opinion on bitcoin security for the fourth time  Really bra? ITS NOT ABOUT COMPETITION ITS ABOUT TRUST. T____R_____U_____S______T. Not news to us that cattle follow the pack. Its news that you use that as your excuse (repeatedly) for opening up a can of worms unseen by most everyone....EXCEPT THE CREATOR OF BITCOIN. Do you even understand what our concerns are? I haven't seen you comprehend them....once. Enlighten me, bra. Maybe I'm failing to see how you don't control so much of the network, and how you can't lose control of it... |
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Deepbit just hit 50%. We are still alive. Now everyone stop whining.
This proves you DON'T GET IT. It's not a "50%..the end" thing...its a User A: "....some time later...what's this? double-spending? can't be...." User B: "@twitter...btc chain broken..sell." Thing. The possibility of your scenario is so slight that it's not even funny. In the even that it did happen, the price will drop, mining won't be profitable and everyone that's only in it for the money and they would get out. The network would recover and rebuild, a little more wiser. From a new block chain. Thats not a very easy thing to do, now that people can look at the original Bitcoin blockchain and say "Oh, yea, you can double spend in that thing.... Not very secure. Lets NOT use that technology." The exploit was recognized and explained by the creator. I trust the protocol. If you don't then you should sell out and close up shop. But the protocol is insecure once someone gets >50% (or even close). So why would anyone trust it after a failure like that? The protocol is not insecure. At 50% it is prone to a single type of attack which is most effectively done by an anonymous person, not a very well known figure. Really? ::FACEPALM:: Ooo yeah, I remember in the bitcoin paper it did mention a large scale attacker, but with clear stipulations on that it couldn't be a long term forum poster. Whew...close. |
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Deepbit just hit 50%. We are still alive. Now everyone stop whining.
This proves you DON'T GET IT. It's not a "50%..the end" thing...its a User A: "....some time later...what's this? double-spending? can't be...." User B: "@twitter...btc chain broken..sell." Thing. The possibility of your scenario is so slight that it's not even funny. In the even that it did happen, the price will drop, mining won't be profitable and everyone that's only in it for the money and they would get out. The network would recover and rebuild, a little more wiser. From a new block chain. Thats not a very easy thing to do, now that people can look at the original Bitcoin blockchain and say "Oh, yea, you can double spend in that thing.... Not very secure. Lets NOT use that technology." The exploit was recognized and explained by the creator. I trust the protocol. If you don't then you should sell out and close up shop. I love the laissez-faire attitude with the emerging technology. Obviously a real champion for bitcoin stability and prosperity among all segments, especially the early-adopter and more recent screwed groups. |
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No thanks. I need a clean conscience....I know you don't care about that... I'll give you a reason at least. Just because you can program a pool doesn't mean you can lead it. Your words and actions clearly indicate you do NOT understand the implications of the situtation. All you want is short term, buddy. |
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No thanks. I need a clean conscience....I know you don't care about that... |
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Maybe this proves most of the world is run by the ignorant, and the rest of us are just too "unlucky" to notice, care, or do anything about it.
I believe in the future...I'll give a btc bounty right now to whatever education system produced these wonderful people.
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Deepbit just hit 50%. We are still alive. Now everyone stop whining.
This proves you DON'T GET IT. It's not a "50%..the end" thing...its a User A: "....some time later...what's this? double-spending? can't be...." User B: "@twitter...btc chain broken..sell." Thing. |
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ok, so give me poole that has instant payouts and good PPS system
So you'll end everything because you need instant gratification? This is why it's gonna be a long road to the future. |
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And if they do it for a $100k payoff tomorrow, what's the difference?
Most of the supportive crap to this guy gives them the benefit of the doubt, or is based on subjective analysis of their possible intentions....not based on firm evidence. (I didn't notice the Tycho Foundation's charitable giving to the March of Dimes yesterday).
Seems like trust should be computable nowadays...lol. Instead, all most miners obviously need is a slick page and working api.
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Tycho's pool is blocking you.
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If tycho starts to do shit, people will move to another pools, whats the problem?
He may be greedy, i dont know, but well its his pool. I already mobed to a zero fee pool, if you care about this why dont you do the same?
If Tycho does shit, then its too late. All he needs is ONE forged block to screw the entire system, then the block chain is forked and you cant do shit. Also, fee will/has been restored. |
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I'm really not so sure. People don't really have any reason to pledge allegiance to any particular pool long term, nor is there the real life problem of making a choice (voting) and then being stuck with it for years.
I mine with BTCGuild because I like their website. A day from now I could decide I like someone else and mine in their pool. A day later I could switch back. There is hardly any cost in doing so, for me or any other miner, so any power a pool operator has is extremely temporary and entirely contingent on keeping their miners happy. That makes a pool operator doing bad things seem at least fairly unlikely.
Wrong. Its a fundamental issue in trust...investor confidence. Once the trust is broken, it won't be restored. Sooo that means, when a broken chain is discovered (and when can lag), how does the joe-investor who just dropped $100k on btc recover? He sells... |
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Nothing until someone verifies a forged chain. Then its over (well, for now. to appease the long-term visionaries).
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Because he has, or develops, any one of uncountable delusions of how a majority pool can be used. (or someone related to him/can access the pool/can pop his crap)
As I posted over on another thread( dealing with this topic only 15% of people (or less)) get....
The road to hell is paved with good intentions.
Trust is everything in this game, unfortunately most of the players are unfamiliar with that concept, and freely give in to nonsense (in RL, see tea party voters).
...accidents/mistakes/someone finding where he lives/someone ddos another pool/random craziness happens.
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Hey guys, sooper noob here. I just got 2 5830s installed and running in the last few hours. I had my deepbit account for around 48 hours so far, but for the past 2 days it was running on my old 8800GT. Now thats gone & 2x 5830s are cranking away in its place. I switched from poblcm to phoenix\phat with phoenix rising 1.41. I got both cards configured, they are (relatively) ripping away at around 230Mhashes each.
I made a 2nd worker account on deepbit.net. It shows my hash rate around 500M/sec. BUT . .the weird thing is, for the last few hours, the "YOUR SHARE" in statistics says 0 for each block. Any idea why that would be?
Thanks, this is very exciting, I just want it to be counting towards something lol.
Yeah, I want my shares to be counted towards epic fail, too. Where do I sign up to this nightmare? |
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We wait for someone to discover Tycho's rouge blocks.
And if that happens, we will go back (in time) and start over right before insertion of such rouge blocks. Yeah...thats it, just fork it right after he inserted the blocks on that restart a couple of hours ago, and tell anyone after to blow off. And of course, Tycho would never screw the pooch here. Not one person who ever had control lost it... |
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We wait for someone to discover Tycho's rouge blocks.
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Several ways...isn't that the competition-based argument. The same people who float deepbit now float Sarah Palin's financial needs.
You should put that script other places...once they verify the forged blocks deep's putting out you'll need it lol.
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