Now there are some 10 000 miners, how much pilferers will remain? 1 000 ?!
Why would the number of miners decrease? I guess when equilibrium is reached difficulty would be at least what is now - therefore at least as many miners as there are now. |
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50 blocks per hour would not help. What he wants is increasing amount of coins mined per hour, eg. 50 coins/10 minutes now and 100 coins/10 minutes 14 days from now. This just can't work. He's saying difficulty is too high. If difficulty were lowered, there would be more blocks being created per hour. If he wants what you describe, that also can't work. It would lead to bitcoins being almost worthless, and few people accepting them in exchange for goods/services because of their rapid inflation. fair enough... either fixed amount of btc per block and variable block generation times, or the other way around. |
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If "afterburner229" have better code for us to examine we will be very pleased.
Let me some time to think about an idea. Consider real Gold. While we have mined 1/3 of total gold, the mass of the gold being mined per unit time, in the total world, depends on total mining power. NOT constant mass being mined per unit time: ----------------------------------------------------------------------------- mass_per_time = k * total_mining_power, where k = const, mass of mined gold < 90% ----------------------------------------------------------------------------- When we have mined 90% of total gold, the mass of the gold being mined per unit time starts to decrease exponentially: ----------------------------------------------------------------------------- mass_per_time = mass_per_time (mass of mined gold = 90%) * exp (- time/1_YEAR), mass of mined gold >= 90% ----------------------------------------------------------------------------- (don't be afraid about if we get not 100% EXACTLY - exponential function DOES make upper boundary - just re-normalize) Look in to the history - 90% of total gold mined was reached on time interval few CENTURYs. Of course, we apparently do not want wait for century. 90% bitcoins must be mined in 5-10 years due to world-wide political reasons & crysis. This is normalization for k = const, mentioned above. So the new algorithm is almost ready! How exactly would one get (uncompromised) total_mining_power (in a decentralized system)? |
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If "Satoshi" were studying psychology, he normalized the algorithm, to allow 1 000 000 miners come into field, with no dependance of power of ATI GPUs.
It would not work. You can't have 50 blocks being created every hour. It causes problems for the network. The difficulty HAS to adjust to how quickly blocks are being created, in order to keep block generation at one per 10 minutes. 50 blocks per hour would not help. What he wants is increasing amount of coins mined per hour, eg. 50 coins/10 minutes now and 100 coins/10 minutes 14 days from now. This just can't work. |
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2. The original bitcoin client won't send to invalid addresses.
Isn't every address of sufficient length valid, even though no one actually owns it (yet)? |
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That's not how Bitcoins work - you'll need a unique address for each depositor. Consider using PM's
why would you need that? afaik you can use one address for everything, as long as you don't care about anonymity. |
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creating_websites, any references you can show us?
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Actually, mining is much more profitable now than when bitcoin was only worth 80 cents (and difficulty was about 95000)... So this whole "early adoption" idea falls a bit short.
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---------------- Currently, the best public attacks break 41 of the 64 rounds of SHA-256 or 46 of the 80 rounds of SHA-512, as discussed in the "Cryptanalysis and Validation" section below.[10] ---------------- --from http://en.wikipedia.org/wiki/Sha-256those attacks have time complexity of 2^500. Hardly a threat. (especially when birthday paradox tells you probabilistic attack has (expected) time complexity of 2^256) |
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SHA-1 has been shown to be weak. SHA-2, used in Bitcoin, has not been broken. OHH if SHA-2 has been broken we simply do not discuss here at all. a half of number of rounds during SHA-2 computing has just been broken. Again, please post a link showing what you're claiming. I'm not entirely sure what you're saying, but the Wikipedia link does not mention this. In fact, the link you post says "these attacks have not been successfully extended to SHA-2." he obviously has no idea what he's talking about. |
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Go to the marketplace section of the forum and offer your services (but I don't think you'll build reputation with offering password hacking).
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Charlie here is what you should expect: The expected generation output, at 700 Khps, given current difficulty of 244139.48158254 , is 0.00288392463949 BTC per day and 0.000120163526645 BTC per hour. Of course this doesn't take into effect the randomness of who will get it. Turn off your client's Generate Option. You are spending more than you are making. However it is there for a good reason, if difficulty falls to an affordable rate, then you can turn it on. But don't expect that anytime soon  Well how would i make bitcoins then, would i need a rig and how many bitcoins wud i get from 1, i have this graphics card atm: nvidia 550 gtx and they're about £120 each atm.. Thanks for your reply. buy them or sell something for them. |
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ps. do you know SHA-256 is partially broken ?
citation needed. edit: how exactly can you "partially break" a hash function? |
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You'll have to wait for a few confirmations.
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Submitted by Evil Warlord on Sat, 05/21/2011 - 18:49.
The "encrypted traffic" relies on the same wretched old factorization problem that was cracked back in 2002 with tangent-delta sine analysis.
The NSA can crack a 4096 bit composite number in just under a second with a 286, and the time scales linearly.
Last I heard, teenagers in Nigeria were equipped with something slightly better than a 286. this guy is funny. |
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I wouldn't know how it feels, but I'm sure it's great... |
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Until proven innocent, GUILTY only.
It's always been "innocent until proven guilty", not the other way around. Anyway, deepbit keeps growing because Tycho works his ass off to make his pool better than any other, not because of some crazy conspiracy. |
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dishwara, thank you for this. I haven't had a good laugh in a long time. |
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<sarcasm>
I suggest to issue an edict forbidding miners to sell below some fixed amount X. The only question left is what the X is. Perhaps a poll? 10$ 20$ 40$ or 100$.
</sarcasm>
last one 100$!  wouldn't 500$ be better? or what about 1000$? from now on, let's all sell our coins for at least 10000$, whoever sells below that, will be stoned to death. along with anyone who says jehovah. |
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Pool rate: 1000 Gh/s (congrats?) Thanks ! I'm constantly working to improve your mining experience Tycho, you are a god. |
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