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OR maybe it's just sync problem....
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I don't get those people who complain that ASICs won't ROI, and then they go ahead and build giant GPU farms that won't profit unless they can count on reselling their used hardware on eBay for >75% cost after 1 year.
You have absolutely no idea how GPU farming is profitable dont you? Not only it pays off in few months it continues to make good coin for more then a year and even after that you have good GPU and computer cards to use or to sell. With ASIC you have piece of hardware you can throw away. |
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Ok so what is so bad about the fact that Bitcoin now uses ASIC's that has everyone using Scrypt or other ASIC protected code? Is it because they don't want to have to invest the cash for Bitcoin, or is there another reason that seriously disrupts the effectiveness of Bitcoin. I understand they say it centralizes Bitcoin, but as the price rises the whales will get out earlier because they got in earlier so centralization doesn't seem to be a problem to me. What is it? Why use Scrypt?
ASIC's are a very important step towards mining centralization. That's it. asics are a an important step to making cheap efficient hardware available for everyone. ultimatly fighting centralisation. And as there would not be centralization if there was no ASIC. So what your sain is that we have ASIC to fight centralization which was created by ASIC....wouldnt it be easyer not to have ASIC in first place? Imagine how much more miners would BTC have than it has now. How much harder would it be to centralize it and shut it down if there was no ASIC around... More miners, more BTC users, more users wider adoption, wider adoption better BTC price....ASICs just ruined initial idea of BTC. if the network still ran on cpu, a single asic machine develloped by an evil gouverment in secrety would kill btc overnight. asics are not special and defenatly not invented for btc. bitcoin adpted the concept. and if we as a comunity didn`t do it, it would be very easy for the ones who are evil to do just that. to protect the network we have to make sure it is kept to the highest standard available. Or maybe, just maybe, devs could change away from SHA256 and protect BTC from ANY sort of ASIC. They could have done it, but they didint as someone is making huge amount of btc/$$$ out of ASIC. Only 1 single change like that would turn away anyone from investing into ASIC hardware (private or goverment) as ASIC is useless piece of hardware once you change away from SHA. BTC can be protected on software level much more effective and easyer than on hardware level. If potentional invester into ASIC knew that devs will switch code as soon as there is problem, they would not even try to create it as it would be money thrown away. you cant make it it totaly asic proof. anything thats calculation based can be turned into an asic.. you can only make it more complicated so asics are to expensive for commercial use and it makes no sence for a company to make them... but an gouverment that wants to kill bitcoin isn`t concerned with roi . theyll just spend a billion dollars on developing an asic machine, and kill the the network in one single swoop because the entire network is just 1 terrahash big if only cpus are running it... if you want to kill the network now, youre gonna need a lot more money to do so because the network is so much bigger and there are no other options available that are masivly more powerfull then asics. You dont have to build ASIC proof coin (tho it can be 51% proof like some are), all you have to do is change formula that's calculated ONCE and that will be enough to scare away anyone from even attempting to create ASIC as they would know that as soon as they fire it up, devs would change scrypt again and they would be sitting on worthless piece of hardware. It's something like nuclear bomb. You wont use it as you know they will use it too. And for ASIC, changing formula is nuclear bomb...total annahilation. You can't really kill BTC. All devs need to do is change formula and off it goes again. As simple as that. Who, in his right state of mind would go and create ASIC if they knew that they would have only short effect on network? BTC strength is not in it's hardware, it's in it's software, and it's software that can and should protect it. And i have one question for you. Who are ppl that can make decision to "change or not to change" BTC code? Are they maybe somehow connected to ASIC manufacturers? Now....tell me, how decentralized BTC really is? |
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Ok so what is so bad about the fact that Bitcoin now uses ASIC's that has everyone using Scrypt or other ASIC protected code? Is it because they don't want to have to invest the cash for Bitcoin, or is there another reason that seriously disrupts the effectiveness of Bitcoin. I understand they say it centralizes Bitcoin, but as the price rises the whales will get out earlier because they got in earlier so centralization doesn't seem to be a problem to me. What is it? Why use Scrypt?
ASIC's are a very important step towards mining centralization. That's it. asics are a an important step to making cheap efficient hardware available for everyone. ultimatly fighting centralisation. And as there would not be centralization if there was no ASIC. So what your sain is that we have ASIC to fight centralization which was created by ASIC....wouldnt it be easyer not to have ASIC in first place? Imagine how much more miners would BTC have than it has now. How much harder would it be to centralize it and shut it down if there was no ASIC around... More miners, more BTC users, more users wider adoption, wider adoption better BTC price....ASICs just ruined initial idea of BTC. if the network still ran on cpu, a single asic machine develloped by an evil gouverment in secrety would kill btc overnight. asics are not special and defenatly not invented for btc. bitcoin adpted the concept. and if we as a comunity didn`t do it, it would be very easy for the ones who are evil to do just that. to protect the network we have to make sure it is kept to the highest standard available. Or maybe, just maybe, devs could change away from SHA256 and protect BTC from ANY sort of ASIC. They could have done it, but they didint as someone is making huge amount of btc/$$$ out of ASIC. Only 1 single change like that would turn away anyone from investing into ASIC hardware (private or goverment) as ASIC is useless piece of hardware once you change away from SHA. BTC can be protected on software level much more effective and easyer than on hardware level. If potentional invester into ASIC knew that devs will switch code as soon as there is problem, they would not even try to create it as it would be money thrown away. |
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Ok so what is so bad about the fact that Bitcoin now uses ASIC's that has everyone using Scrypt or other ASIC protected code? Is it because they don't want to have to invest the cash for Bitcoin, or is there another reason that seriously disrupts the effectiveness of Bitcoin. I understand they say it centralizes Bitcoin, but as the price rises the whales will get out earlier because they got in earlier so centralization doesn't seem to be a problem to me. What is it? Why use Scrypt?
ASIC's are a very important step towards mining centralization. That's it. asics are a an important step to making cheap efficient hardware available for everyone. ultimatly fighting centralisation. And as there would not be centralization if there was no ASIC. So what your sain is that we have ASIC to fight centralization which was created by ASIC....wouldnt it be easyer not to have ASIC in first place? Imagine how much more miners would BTC have than it has now. How much harder would it be to centralize it and shut it down if there was no ASIC around... More miners, more BTC users, more users wider adoption, wider adoption better BTC price....ASICs just ruined initial idea of BTC. |
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How much did tht one cost? And it's Thailand...are you SURE it's a SHE?  |
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It amazes me how mtgox is still able to impact BTC price...even with suck stupid announcement.
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That table means nothing as it's not showing current offer and bid price and volumen for them, which can be huge difference for any half serious trader.
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Untill yesterday, every time BTC would fall in price i knew that it will happen or if i didint know in advance i knew why is it happeining. Yesterdays 100$ per BTC fall is in total dark for me. Is it just someone with alot of BTC cashing out (that we really can't know), or is there any other reason behind it?
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My personal opinion is that BTC was created to fight cintralization and to be available to everyone. ASIC's go against both of those things.
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Aint that funny thing. They are BTC fundation. They promote BTC. But still they charge for membershin in dollars (you cna pay in BTC if you want). How funny is that? https://bitcoinfoundation.org/support |
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WTF shouldnt it be other way around? Shouldnt they give discount for BTC payments?! What kind of wierd sht is that?
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Just got 2 of those to one of my wallets....interesting...
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So Italy recongises BTC as a legitmate currency? Or at least an asset!
no. Italy's gov is desperately in need of money and they're charging every bank wire that comes from a foreign country. be it SEPA or not. It's up to the receiver to prove that on those money the state hasn't to apply that income tax. by default they assume the opposite. Sick pig, its not a simple NO. If Italy taxes you on BTC it means that should you make a profit, you will need to pay 20% tax on the profit - 20% is Capital Gains tax in Italy (CGT). Meaning that Italy have recognised BTC as an asset (indirectly). Thus the opposite should be true, if you lose on BTC then you have a CGT loss. So BTC in the eyes of Italy is like a house, you buy and sell, the difference being +100k, you pay 20%. If the difference is -100k, you have a tax credit for future CGT. Basically they have legitimised any profit that occurs via BTC- making it a valid financial tool. I say, set up offshore in Malta and pay a flat 5% non residents tax! the new tax it's not specifically related to BTC. it applies to all incoming bank transfers. Unfortunately when you cash out btc from an exchange you've to use a bank wire. Another risk Italy gov's is going to expose italian citizens: double taxation. As I said before is up to the recipient to prove that those money hasn't to be taxed. If he fails or just forgot to do it it could pay the taxes twice. Once when he received the money and once when he have the annual rendezvous with the tax man. There is no Italian BTC exchange? That would solve pretty much whole problem. |
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lol dude, check btc price....goig up like crazy...
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I wonder, how much BTC did that guy lost, or has frozen on MtGox when he went there from London....
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Please, for love of god, please stop talking about MtGox. They are dead. Get whatever you can out of there and move to other exchanges. Delte their bookmarks, hit yourself in the hea dwith something hard to forget em and stop bothering us with dead exchange...DEAD
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Once again, why id price on MtGox important to anyone? Arn't they dead?
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who cares about price of btc on gox?
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OMG man...this is so funny that it's just not funny....i hope you get your BTC back. |
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