That I did - I see it (flexible mining proxy) has some issues right now, though. Didn't know if it was as easy as running the miner multiple times using same GPU.
Yeah, you can run multiple miners on the same GPU as well. |
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Mining is required to:
1) Expand the Bitcoin economy by producing additional Bitcoins
2) Confirm prior transactions by adding to the block chain
Without mining there would be no new Bitcoins coming into the market and you would not be able to confirm past transactions, therefore preventing those transactions from actually "taking".
How much cpu/gpu power is required to just confirm transactions? I don't think the difficulty of computation is going up proportionally to the increasing number of transactions that are needed to confirm. Honest computational power is required to combat an attack from dishonest computational power. The more honest computational power the network has, the hard it becomes to cheat the network. |
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...Mining solo is very reliable by the way...
Yeah..solo is reliable alright...but makes absolutely no sense unless your Hashes are high enough to win you at least 1 block in under two weeks or so...otherwise the difficulty changes without you having won anything and your your earnings are seriously eroded...this above all else is why pools exist...well that and the crack effect I have alluded to.. I agree with everything you've said. If the pools could be brought down, people who can solo mine will still be able to earn Bitcoins and secure the network!  Solo mining should be a tool in every miners toolbox. |
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I don't know for sure but it would be the cheapest way to destroy bitcoin and put a damper on any other virtual currency being adopted.
What happens if there are people who use Bitcoin that won't exchange it for fiat currency? |
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Because I wanted $...?
Isn't that the whole point?
Get fiat for BTC? Pass. |
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hmm.. has the calculation time needed for solving a block doubled since splitting the Server, or do both servers count as one single in terms of Blockgeneration?
So the Question is: Are we mining with 2times 350GHash or 1 time with 700 GHash?
The reward is divided as if it was one server. That's the only point that matters. It's the same difference. |
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If you are using multiple GPUs, point each one at a different pool. Also, you might want to search this forum for "flexible mining proxy".
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If you DDOS the a 50% mining pool - can you take over the network with half the hash rate?
If you remove the hashing power of a 50% mining pool, you need less hashing power to double spend, correct. If you DDOS 6 major pools, you need even less. If six pools go down at once, watch the network struggle as people realize they have no clue how to solo mine. Hopefully it doesn't happen. |
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As I've said in other threads, I mine at deepbit because it is realiable. Aside from the downtime due to DDOS, I have never had any issues with the pool. I tried BTCMine, I tried BTCGuild, and both gave me issue after issue with no sign of it getting resolved quickly.
Yes, these other pools weren't up to handle the flood that came when deepbit was DDOSed. BTCMine is certainly having problems. But BTCGuild is doing great now with a new server up and another about to come online. Anyway, I mine because I want to earn Bitcoins for securing the network. Giving one guy control of half the hashing power just doesn't jive for me. Mining solo is very reliable by the way. |
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Is the pool fine to connect to know?
I want to use btc guild, but if its not stable I guess I shouldn't.
Though its been fine for me so far?
Yes. Smooth sailing. |
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No, I'm gonna go with the opions questions I asked earlier. You go and do maths now. Thanks. Uhh OK. In my opinion you will be profitable mining until banana. I've done the math, and now I know when mining becomes unprofitable for me! You are welcome, happy to help. |
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My workers only get 1/3 of the Mhash/s they should usually get on btcguild.. e.g. my HD5870 only has 140Mhash/s, that's what phoenix says at least. It works fine on any other pool.
Did you give it some time to let the stats catch up? No, I'm talking about the software, not the webinterface. It takes the average of the last 5 seconds I guess. Oh sorry, my brain skipped over that part. You are sure you have the same settings? That's odd. |
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It is also not in Tycho's interest to double spend - as all will know who compromised the network - there can only be one 50% majority entity. And I also think Tycho is in it for the long run - central authority or not!
I agree, but someone who wants to hurt Bitcoin can exploit Tycho since he already has a large percentage of the network... Crazy or not consider this. CIA vs. Tycho. |
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My workers only get 1/3 of the Mhash/s they should usually get on btcguild.. e.g. my HD5870 only has 140Mhash/s, that's what phoenix says at least. It works fine on any other pool.
Did you give it some time to let the stats catch up? |
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This is preaching to the choir at this point.
New miners certainly never show up here, in the mining forums. New miners certainly would never join the giant pool having no understanding that in this case bigger isn't better. |
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children, seriously, you are spamming up the forum with your naive blathering. if tycho tries anything fishy with his pool, it will instantly dissolve like a tab of acid on the tongue as the people in his pool flee. tycho is making 3% off of his 50% share of the network. that means hes personally getting 1.5% of all the bitcoins generated right now. you think he would risk that to fake some piddly 50 bitcoin blocks? the people that post these threads are so very profoundly stupid.
So there is no one on the planet with any motivation to destroy Bitcoin? First of all, it doesn't have to be Tycho (and I don't think it would be). I guess governments have never forced people to do what they want? I guess websites have never been hacked? Second, it isn't about the double spend. It's about the public's trust in the network. You know, the people who buy coins making this whole thing worthwhile in the first place. Are you willing to risk that trust, when there is no need, just because you trust one guy's ability to protect his pool from someone that would want to harm the network? I think its naive to place trust in ANYTHING involving money. Third. When deepbit was first DDOSed recently, the network solved 2 blocks in 50 minutes. "Hey Bitcoin has fast transactions (as long as deepbit is running smooth)." What a fantastic selling point. Asking for a healthy network isn't so terrible, is it? Are the people posting these threads really "profoundly stupid", or just calling for a little common sense? |
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Perhaps you should all be worried about any bunch of pools getting more than 50% of the hashing power as well.
I am, and I have been. Also the >50% attack isn't the only concern. When deepbit was DDOSed recently the network took 50 minutes to find two blocks. That's not the sign of a healthy network. Yes, it's a free market and people can mine where they choose. But the miner's paycheck comes from Bitcoin having value. If they choose to risk the health of the network for a little bit of variance protection and an instant payout button, well they aren't thinking things through. It isn't about [Tycho] being evil. He seems like a great guy. But there is simply no reason to we should put so much of the network's hashing power in the hands of one guy. The people who are complaining are simply trying to inform miners of the problem and hope they will self-regulate. |
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It's only going to reach the users that read the forums. I'm willing to bet that a good portion of deepbit users don't read the forums, and a good percentage of those never will.
Well, the thing is, there are users of the forum that read these threads and still mine on deepbit. Sometimes you have to beat (figuratively) sense into people. |
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Hum... good luck, there are already pools with 0 fees.
They were not capable of handling the extra volume when deepbit overflowed (during the recent DDOS attack on deepbit). Then move to Slush's while the rest recuperate. You are preaching to the choir. I'm just giving a reason why these pools aren't taking any of the traffic. |
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