Honestly, how old are you?
Probably older than you but that is irrelevant. My point is thread count can show whether or not you have been vetted by the community. Look at the double spends currently being attempted. What if the sold hashing power is going to the people attempting double spends? This is why there is an inherent problem with selling hashing power from a site that claims to be its own pool. It may not have been stated anywhere they were or were not mining their own blocks but it is implied. All the hashing power adds up, ABCpool would need to rent power from deepbit+btcguild+slush to attempt a doublespend. You really think the conspiracy is that deep?  I am not saying ABCPool is the one attempting the double spend. It is the one who is ultimately paying for all the hashing power from ABC (Not Goat but maybe his client). |
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The volume is abysmally low right now. This could be a sign of impending smackdown. One single spike of volume is not going to cut it.
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Poll clarified and reset. Please place your votes again.
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So I am guessing you voted yes? I said it should re-converge but many people are worried about it. My thoughts are that many people will wait it out on the sidelines in cash until the dust settles.
http://blockchain.info/p2sh - yes, I'm voting for BIP16, because it was general consensus until the mess about BIP16/17 started. So far it looks like BIP16 voting don't reach >50% until 1.Feb, so we will see what will be next progress. I'm affraid that BIP wars distracted bitcoiners to pick ANY solution because they're affraid that something strange will happen, which will only slow down p2sh implementation. I meant yes on the poll. I am going to reset the poll with a better asked question. It should be if the fear about the potential impact of bip 16/17 is holding back prices and I think people may be confused. |
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Personally, I suspect the price of Bitcoin is tied to the amount of media coverage related to Bitcoin because of the seemingly strong positive correlation between media coverage and Bitcoin price.
I don't see BIP 16/17 having a significant impact on Bitcoin prices unless implementation somehow has a negative impact on the network, which I don't predict.
I am supporting Tycho on his stance but the network should survive regardless. It is the fear of a problem with implementation I think might be suppressing the price. |
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I can't help but think that some of the uncertainty surrounding the attempted implementation of BIP 16 and BIP 17 is causing the price to be suppressed.
Some people are spreading FUDs, but actually nothing bad is going to happen in any case. It is quite possible we will see a blockchain split on this day.
Not likely. And if so, nothing happen. Bitcoin network is designed to "repair" from blockchain splits by self. Also nobody wants to be on blockchain branch, there's pretty good incentive to go with the majority of the miners. Many people do not understand the implications so I feel that implementing it right now is not a good idea.
Common people don't need to understand it. Actually the discussion should be much more technical, but thanks to many misunderstandings it was turned into political mess. I hope people will calm down and will discuss more like human beings and will keep discussion more factual. I see only one risk which can affect bitcoin price. It's that bitcoin developers will be seen as a group of untrustworthy sociopaths which are unable to talk each to other. And it's not related to BIP16/17, it's more general issue. So I am guessing you voted yes? I said it should re-converge but many people are worried about it. My thoughts are that many people will wait it out on the sidelines in cash until the dust settles. |
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Honestly, how old are you?
Probably older than you but that is irrelevant. My point is thread count can show whether or not you have been vetted by the community. Look at the double spends currently being attempted. What if the sold hashing power is going to the people attempting double spends? This is why there is an inherent problem with selling hashing power from a site that claims to be its own pool. It may not have been stated anywhere they were or were not mining their own blocks but it is implied. |
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Thats rather disturbing. More than 3 double spends being attempted as we speak by the looks of it. |
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There are many reasons not to pull any tricks with "selling mining power"
So, what is the purpose of selling hash power to someone else? I had never heard or conceived of such a thing until I looked at Goat's pool thread yesterday where he states he can pay more per share than the what is earned from solving blocks by reselling the hash's. Why is that? And how can that work? And what are these third parties doing with these hash's/hash power that they are paying more than they are worth? Very disturbing, Sam You hit the nail on the head my friend. I am concerned about where sold hashing power may go. Who is to say someone doesn't buy the hashing power to mount a 51% attack or something like that. Edit: Not that I think Goat would have anything to do with such an attack. |
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I can't help but think that some of the uncertainty surrounding the attempted implementation of BIP 16 and BIP 17 is causing the price to be suppressed. Quite frankly, I am surprised this has not been brought up in the speculation thread. It is quite possible we will see a blockchain split on this day. It should re-converge but this raises some doubts about if Bitcoin will remain what the community wants it to. Many people do not understand the implications so I feel that implementing it right now is not a good idea.
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The second is that I recently discovered the pool I am with is selling its mining power and isn't really mining its own blocks. I did not sign up for that and someone said Deepbit is doing the same thing but I do not believe that is the case. Can you please confirm that deepbit is not selling any of its hashing power? No, we are not selling any hashing power. Hashes of all our mined blocks are published on the stats page and can be analyzed by anyone to check this. There are many reasons not to pull any tricks with "selling mining power", including those: 1) relaying shares to some other place greatly reduces stability. 2) selling small part of hashing power is meaningless, but selling most power is impossible since very few private projects can sustain it (if any) 3) (I forgot the 3rd one, but it has something to do with responsibility) As for the case with your other pool, I think that pure PPS pool can do anything he wants with those shares unless you don't like some specific usage. Thanks Tycho this is what I wanted to know. This other person claimed you were and I thought it was BS. As far as them doing what they want with hashing power because its PPS I just think it is misleading to call yourself a pool if you are really acting as proxy. I would like to know my shares are going towards x purpose and in this case it is preserving the current protocol. |
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Tycho is taking the exact same approach.
No, we are not selling any hashing power.
Hashes of all our mined blocks are published on the stats page and can be analyzed by anyone to check this.
Care to retract your statement? This is why post count is important. If you were talking BS people will have called you out for it. Deepbit is also more resilient to DDOS then ABCPool. There are a number of different servers to connect to, not just one. So if one is under DDOS then you can still connect to another. |
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I was thinking of coming back to deepbit for several reasons. One of the largest is the BIP 16/17 issue of being untested. I support Tycho in his efforts to maintain the original protocol.
The second is that I recently discovered the pool I am with is selling its mining power and isn't really mining its own blocks. I did not sign up for that and someone said Deepbit is doing the same thing but I do not believe that is the case. Can you please confirm that deepbit is not selling any of its hashing power?
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Combine this with me not supporting BIP16/17 until further testing and it looks like I will be going back to deepbit.
Tycho is taking the exact same approach. With your constant complaints (which are inaccurate) you hurl at ABC pool, I'm surprised you haven't left long ago. My complaints prior were about reliability which was 100% accurate. I am just reading about them not mining their own blocks today. It was confirmed by goat. I have been teetering on the edge of leaving ABCPool for some time but this is the final straw for me. Can someone explain to me how someone becomes VIP with 100 posts? I think VIP costs you 50 BTC. Double check that before you quote me:/ I was looking back where you said you purchased mining power off abcpool. This means they are not mining their own blocks. Maybe you read it wrong but I didnt say anything about you and VIP. Looks like I read your most recent post wrong. |
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This thread went all weird from just a couple of hours ago. A bunch of dates were changed it seems and some posts removed. Very weird but I am not comfortable with the fact that mining power is being used to pool hop. I thought I was mining for ABCPool and not whatever pool they were hopping too.
I have no opinion on the rest but I remove my posts every Sunday so that would be what you seen there. That explains why the posts that were on a given page changed. I thought it was strange. |
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Combine this with me not supporting BIP16/17 until further testing and it looks like I will be going back to deepbit.
Tycho is taking the exact same approach. With your constant complaints (which are inaccurate) you hurl at ABC pool, I'm surprised you haven't left long ago. My complaints prior were about reliability which was 100% accurate. I am just reading about them not mining their own blocks today. It was confirmed by goat. I have been teetering on the edge of leaving ABCPool for some time but this is the final straw for me. Can someone explain to me how someone becomes VIP with 100 posts? |
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I am not comfortable with the fact that mining power is being used to pool hop. I thought I was mining for ABCPool and not whatever pool they were hopping to. I think calling yourself a separate pool at this point is misleading. It should say somewhere on your site that you are not mining your own blocks.
Combine this with me not supporting BIP16/17 until further testing and it looks like I will be going back to deepbit. I hate that it is so big but at least they mine their own blocks.
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I know who he is. What I meant was, bitscalper showing one person their code does not calm the fears of many people. I was trying to explain to bitscalper that they need to open up to the rest of the community and make what they do with their client's money clear. He made it seem like if he offered to show a highly trusted member of the bitcoin community his code then he should be trusted as well. My reasoning is, biscalper has a lot more to do than that.
By the sounds of it the code that he did show did not really prove anything. The fact that Matthew does not think he is trustworthy is something to take note of. I am surprised the when his AutoVPS went down and he had no access to any information that no one took more note of this. There was no backup of the site so if he was unable to recover the data from his service provider then anyone with coins in it would have been SOL. It sounds to me like peoples money could be at serious risk even if he is 100% legitimate (which is highly questionable a this point). It's a variable gold mine to hackers from what I can tell. There was never any answer to this either: 11:00 AM in Germany, still no answer, nothing. There's no magicaltux on IRC either.
Do you have a recent off-site backup of your site, database, software and data? If so, how about setting up a quick VPS somewhere else under a second domain name? You can use that as a backup server once your current VPS comes back up? |
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Matthew is the head of the DCAO, which most Bitcoin business owners are members of.
Members of DCAO: Give-or-take 30. Definition of "most": "The greatest part or number: Most of the town was destroyed. Most of the books were missing." Businesses listed on the Bitcoin Wiki: More than I can fucking count. Ba-dum-tish! Members of DCAO ~ 50 Most of the businesses on the wiki page no longer exist and many of them own multiple businesses. Can't help but notice you are labelled a scammer. |
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I offered Matthew to eventually verify part of our codebase and waiting for someone from the trusted members pool to contact me. Withdrawals are processing correctly.
It is nice for you to offer that, but I don't personally know who Matthew is either. You have a communication problem with the community. When you come out of Beta testing I hope you address people's worries.  Matthew is the head of the DCAO, which most Bitcoin business owners are members of. He is also the editor of Bitcoin Magazine and the main host for BitTalk TV. He is about as trustworthy of a person as you will find in our little community here. It would have been in bitscalpers best interests to be more forward and open with him. There is no Bitcoin mafia and we would just like to prevent another MyBitcoin from happening. Him insulting Matthew and saying he was extorting him is just absolutely stupid. |
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