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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 $100k on btc recover? He sells... Which is also a powerful incentive for pool operators to NOT mess with the block chain. If they do it an are discovered, they screw themselves out of all the BTC they're earned so far (which in the case of deepbit is a LOT). If they aren't discovered but there is even the hint of wrongdoing, miners jump ship. The best choice for them is being above board, I think. But I'm also playing devil's advocate here, to be honest. I would feel more confident about the whole thing if hashing power was distributed a bit more evenly. Well, lets assume that if somebody has a very large amount of coin, they can sell that for a very large price. 1000 bitcoins = 25,000$. Tycho almost certainly has magnitudes more than that. He could just cash out and run; however I dont want to be a fear malingerer so Im not saying he would do that. But if someone did want to take down Bitcoin, now would be the time. |
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Nothing until someone verifies a forged chain. Then its over (well, for now. to appease the long-term visionaries).
If a forged chain is verified wont a good portion of deepbit just move to a different mining pool to protect the security of bitcoin as a whole? Not likely. They don't check the forum... ever. So what do we do about this security threat? |
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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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Hey, guess what they just hit. 50%.  |
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what will happen when deepbit = 50+% ?
Ever seen the movie 2012? |
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Yep, somethings up with the pool again, I cant connect. Switching to Slush's for now  |
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Guys, chill out. Even if it surpasses 50% Tycho is not going to do anything evil.
Im sure he wouldent, kiwiasian. Or should I say... TYCHO!  |
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I believe "investing in bitcoins" means buy bitcoins directly rather than buying mining hardware.
While much higher risk, you can profit much more as you dont have to factor in hardware costs.
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Unless youtube is running the javascript miner, this was surely anomalous...
3 billion hits a day...... mostly the browser idling for several minuets at a time when watching videos. |
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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.
Heh the DDoS script was overkill; working on some scripts to easy-switch over to some other pools. |
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That's both immoral and illegal. Hmm... true. Links taken down. |
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... and they just shot back up.... http://chart.googleapis.com/chart?chs=350x200&chd=t:46.89,2.99,20.87,1.53,12.08,3.44,3.48,7.99,0.74&cht=p&chf=bg,s,00000000&chl=deepbit|BitcoinPool|slush|bitcoins.lc|btcguild|other|Eligius|btcmine|swepoolWhat happened to that 500GH/s for 5 minuets? |
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They lost ~500 GH/s just now.....
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 They were just at 48%. |
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I know in video games the cpu can often bottleneck a graphics card.
With hashing in mind will a pentium 4 bottle neck one 5850 or more?
No, the CPU will not be a bottleneck. AMD Sempron 140 is fine. |
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What time did the difficulty go up? Anyone have an idea of what kind of time delay there was between the two?
It doesn't matter. The difficulty has no bearing on the market price, he's just confused about cause and effect. Supply and demand? Not sure if that has any relevance, just a thought Really? You guys need to stop and understand the system before you speak. Heh, it was just a wild guess  Im still learning about the system |
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What time did the difficulty go up? Anyone have an idea of what kind of time delay there was between the two?
It doesn't matter. The difficulty has no bearing on the market price, he's just confused about cause and effect. Supply and demand? Not sure if that has any relevance, just a thought |
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