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Speaking of this...
Someone seemingly sent me such a message to my main public BTC address a while back in block 181957. I never did figure out what it was supposed to say...
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.0100111
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01101001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01100011
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01100101
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01001101
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01101001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.0110111
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01100101
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01100011
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.0111001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01100001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.0110011
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.011101
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.0100001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01110101
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.01101001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.011011
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.011001
18TKNbSLTrd3a2W8mtoH5uNzFhWRWNcuHU: 0.8021192
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No, it is not time to start deprioritizing anything. It is time to start prioritizing pruning of the blockchain.
Sadly, chain pruning is by no means easy. Pruning the index of transactions (blkindex.dat) isnt hard, and is likely to be done in the next release or the release thereafter. However, pruning blk0001.dat really can't be done without making pretty significant changes to the way bitcoin downloads blocks. Best get started then!  |
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No, it is not time to start deprioritizing anything. It is time to start prioritizing pruning of the blockchain.
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I dont think it is wise giving all the power to a single hardware company.
There is still room and time to everyone profit, but If we are letting ASIC in, at this point, then everyone will be smashed hard and that talk about bitcoins being the peoples currency its all suddenly crap. I guess it we can call people-with-lots-of-money-to-buy-ASIC currency.
I say we should prevent ASIC from mining until everyone has fair access to it.
There is no way to prevent ASIC mining. It is coming whether you like it or not. |
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It seemed to me you were making the argument that singles have already paid themselves off, so why not ASIC type of thing.
Anyway, it really doesn't matter as most have suggested, the market will call the shots.
I just thought a major aspect of Bitcoin was the open source/community aspect, but I guess it is yielding to the market and maybe it always has.
I was drawn to bitcoin for the concept and possible role in improving personal freedom.
I think the free market is the most over-rated concept in economics. It only works if it has 100% rational players. It doesn't take into account Behavioral Economic Principles.
For me personally, yes. And I might even risk more money on buying more ASICs on top of that, we'll see. Again, each person has to make their own decision on whether or not they should buy ASICs. Any market/community/etc will always boil down to money and "greed" if money is involved. To expect otherwise is to expect people to act unnaturally. The best that can be done is to expect the greed, and act upon it in such a way as to use the greed to the greatest benefit of everyone. In capitalism, that's the free market, as greed is captured as the inspiration for innovation and investment. So, what is your proposed replacement for free market? A regulated market that tries to take behavioral economics into account? |
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Certainly the block reward halving will be interesting... I bet a lot of GPU miners will drop out.
I'd still say that those with free electricity won't be the only ones GPU mining though. Some have very cheap electricity, $0.03/kwh or less. Even with the block reward halving, they'd still be very profitable.
Honestly, to get those with some of the more efficient GPU setups out of the game who have $0.03/kwh electric rates, you'd have to see difficulty increase five fold without any increase in Bitcoin price AND including the coming block reward halving. Of course, that's not a perfect metric, as it doesn't account for hardware failures outside of warranty, etc, but it still shows that there is a long way to go before GPU mining is completely unprofitable for everyone.
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I said "FINALLY!!" when I saw the first post. Then I read your next post. I don't understand how this is interesting in the slightest for online sales. Why would I want to buy a prepaid Bitcoin card and wait for it in the mail instead of just instantly receiving my Bitcoin as soon as I pay for it? And, hasn't it already been done with Bitbills and Causicisuccuisusucss coins? So, here's my suggestion: Push hard to get them into a store. Any store. Then push for more, and more. You'd be a huge step ahead of Bitinstant in the retail environment..! Even if it's just a trial run in a single 7-11 store, or a single slot on the shelf at your local WalMart, or  But that's what I'd be aiming for with these cards. BTW, I do love the design. Clean, slick, and noticeable. |
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@ Cablepair - That's why I prefaced my particular payback period with "FWIW". Might be worth something to someone, obviously not worth anything to you, which is fine. It is largely irrelevant to the discussion at hand.
I still argue that ASIC manufacturers will at least TRY to be the good guys. If they do anything to damage the reputation of Bitcoins, thus reducing their value, it will DIRECTLY impact their bottom line. I don't think they will be dirt cheap, but I don't think they will be priced sky-high to start with either. Certainly, the manufacturers are looking to maximize their profits, but part of that calculation involves keeping the price of BTC up high, which means they need to treat their miners right, treat Bitcoin users right, and not do anything that would compromise Bitcoin or even give the illusion of compromise.
@jj - I don't see how it is deceitful at all. I took a risk, and it paid off. About a month from now is, literally, when they will have paid for themselves. I wasn't trying to imply that other people would be able to pay for their own FPGA miners in such a short period of time.
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When you make all-encompassing statements like "your seriously going to sit here and try and say that GPU mining is more profitable than FPGA," then I'll take it literally. If you preface your statement with "Unless your electricity is free, blah blah blah," then I probably wouldn't bug you.
Also, have you done a recent analysis on how long it takes for an FPGA to out-profit a GPU setup at different electric rates? I doubt it is just at $0.00/kwh where it would make more sense to buy GPU's instead of FPGA's...
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cablepair, it shouldn't matter to you who gets ripped off because they bought an ASIC and who doesn't. If you don't like ASICs, then don't buy them. But don't complain because other people who might buy them might get ripped off. It is certainly up to each individual as to whether they want to take the risk and buy it or not.
FWIW, my BFL FPGA's have already paid themselves off, so I won't have to worry about any ASIC payback period whatsoever - no matter how much or how little the payback is, it's still free money.
SgtSpike, I have always respected you but you have totally and completely missed my point here. Well, I appreciate that, and I will agree that I have missed your point if what I said didn't relate. All I have heard from you is that ASIC miners have the potential to not pay themselves back within a reasonable time period. Ok, I will agree that there is a risk of that happening. But I still say, so what? Let each person make his own decision as to whether he wants to risk being an early adopter of ASIC technology or a later adopter. FWIW, my BFL FPGA's have already paid themselves off, so I won't have to worry about any ASIC payback period whatsoever - no matter how much or how little the payback is, it's still free money.
Lolwhat? Actually, I take that back. They've ALMOST paid themselves off. They will be paid off within a month. Bought 10, sold 6 to pay for 9, and the 10th is still being paid off through mining. So you sold 6 for 50% more price, than new ones?  Pretty close, yeah. |
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your seriously going to sit here and try and say that GPU mining is more profitable than FPGA
where have you been for the last six months? in a solar powered windmill with no internet access?
I cant waste my mental energy any longer on people who have no idea what they are talking about
please please someone correct this boy
dont worry guys I will give you another good reason to argue with me soon
but I need a break from this one....
this is getting ridiculous
It is in some cases... particularly where the user has very inexpensive electricity. |
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FWIW, my BFL FPGA's have already paid themselves off, so I won't have to worry about any ASIC payback period whatsoever - no matter how much or how little the payback is, it's still free money.
Lolwhat? Actually, I take that back. They've ALMOST paid themselves off. They will be paid off within a month. Bought 10, sold 6 to pay for 9, and the 10th is still being paid off through mining. |
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cablepair, it shouldn't matter to you who gets ripped off because they bought an ASIC and who doesn't. If you don't like ASICs, then don't buy them. But don't complain because other people who might buy them might get ripped off. It is certainly up to each individual as to whether they want to take the risk and buy it or not.
FWIW, my BFL FPGA's have already paid themselves off, so I won't have to worry about any ASIC payback period whatsoever - no matter how much or how little the payback is, it's still free money.
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I'm more interested in who is willing to come out and prove their large coin balance though.
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jj, how many times does this have to be said before you'll get it?
ASIC's are happening whether you like it or not, and whether by a legitimate company or not.
Personally, I'd rather have a legitimate company start distributing ASICs to whoever is interested ASAP. You mention waiting for ASICs until millions of people are using Bitcoin (as if that were even possible). My counter argument is that the incentive to attack the network would be that much greater by then, and if we don't have the best hardware available to help protect the network, then we're screwed.
So, why are you intent upon screwing us?
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I think BitStamp is a good choice for traders in Europe. For those in the US, I think BitFloor is a better option. The reason is how easy or difficult it is to send fiat currency to these exchanges. BitStamp offer SEPA for both deposits and withdrawals. BitFloor offers ING Direct P2P and PopMoney for deposits and ACH transfers for withdrawals.
I just wish Bitfloor had more volume...! |
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I don't know - let's find out who responds, then take a poll.
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I realize that most of the high-rollers here don't want to share that they actually have a large balance, but for those who DO want to brag about it a bit... who dares to prove that they hold more Bitcoins than anyone else??
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