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Argentina (W) v Brazil (W)
71 - 65
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Generous and fun. Definitively a way to improve your karma  |
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No need to panic I believe, with ASICs increasing difficulty there will be more sellers driving price down because the ASICs are so overpriced most want get their ASICs investment back as soon as possible. But as the ASICs get cheaper, the LTC price might stabilize
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Is there a reason it has to be 50%? Why not make the threshold 70% to be able to double spend?
You were given the answer to this by kendog77 just a few posts ago. It's not a variable in the code, it is an inviolable law of mathematics - 50% is half, so any more than 50% (we shorthand it as 51%) is more than half. If one has the majority of the hashing power, then probabilistically, one will solve the majority of blocks. I.e. One will solve more blocks than the rest of the network combined. If one is guaranteed to solve more blocks than the rest of the network combined, one may generate a blockchain which is longer than any other blockchain. One may: - spend a certain coin on the 'public' chain, then; - create transaction 'spending' the same coin in a transaction not broadcast to the network, then; - mine privately using that second transaction instead of the first. When one's chain is longer than the public chain (again, more than half the hash power guarantees this will happen eventually), one releases the private chain. As the previously private chain is longer than the initial chain, the entire network 'snaps' to your new longer chain - with the second spending of that coin. The new longer chain has not the first spending of that coin, but rather the second spend of that coin. The net effect is that the recipient of the first 'spend' of the coin has that coin ripped from his wallet, and you get double value for that coin - you have been on the buying end of two transactions involving the same coin. While you are guaranteed to doublespend with 51%, you can sometimes successfully doublespend even with less % hashrate (under 50%), the less you have, the lower the chance though |
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Joining in To succeed, you need show your place where you hashing, as hundreds of Ths units require quite technical challenge with power wires + cooling  |
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Almost all other non-Scrypt, ASIC resistant coins are on the rise.
If these become valuable someday, ASIC will be build for these coins as well. There is not anything like ASIC resistant, just how much more ASIC can be more power effective for particular hash function over general purpose CPU/GPU |
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Done first, asking to be in as second.
TY
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help!how do I post image in post ...Help has no topic unless i'm blind...burp
You have to host the image on some other server (like the free ones for images) and just use URL Click the second icon in second row when creating/editing message and make sure you put URL inside the image tags |
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John K is back: https://bitcointalk.org/index.php?topic=412061.0Sorry for my (yet again) unannounced hiatus for the past month or so - I have been extremely busy due to heavy travelling and am just back to Malaysia from China. I am alive,
although not really well and extremely apologetic for what my delay have done. I've released a few escrows I've been holding in the order of magnitude and those I can
clear within this hour.
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I dont think one would make to the final, however I do believe the digital curreny would be the future of our world. Just dont think bitcoin would be the one. so let us wait and see !  Unless you want centralized digital currency, Bitcoin will be the best decentralized currency I believe, there is not really better alternative |
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I was just wondering what the best hardware to use to for mining dogecoins using cgminer. Thanks
I would like to know if it is possible to mine with CPU. I tried to mine on my MAC but it showed 0 MH/s. Is it only possible to mine with GPU? Another question that does minging with the wallet app work or is only cgminer/asteroid working? No answer... anyone can help? wallet app is very slow, use cgminer. It is possible to mine Scrypt coins with CPU, but very slow and unprofitable. Use good ATI GPU card only |
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I wonder whether it will actually pass the 1500 dollar barrier. Sure Bitcoin is well known by the public, but the other coins (which are currently growing faster than grass) will make it harder for the main public to understand what is happening. For example, try and explain the difference between bitcoin and litecoin or for (not yet an existing coin like bidscoin). So in the end, with all the alt coins, we are killing the Bitcoin ourselves. I doubt the bank or the government will have to do anything...
I dont think altcoins make any difference, all you can do with altcoins is trade for Bitcoins anyway |
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Regardless of what everyone is saying about Bitcoin, it will succeed, it just has some hurdles on its way but it will win over banks simply because it is much better. Did electricity win over candle light? train over wild west horse carriage?
Maybe, so far Bitcoin is not as usefull as it could, like sending money worldwide easily could be done if there are much more Bitcoin ATMs |
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To be honest, this outcome was foreseeable. The Chinese government would never stand for something they themselves didn't come up with.
No, they dont like they cannot control Bitcoin. |
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You have it the wrong way. It's when the price moves upwards it will drop. When it moves downwards it will ultimately reach a critical point where people think it's cheap and buy in, creating a new spike upwards with all the sheep following since "it's going to the moon" again.
The only point is where the critical point is, I believe because of long price trend around $300 |
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Wish the story was horizontal, I would print it and put at my shop
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I do not have the knowledge to influence anyone is this vertical. I was hoping to possibly find someone with the experience to guide me in investing.
Be carefull with your money when it comes to investing, generally trusting random advices here might cost you money. |
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Litecoin ASIC's came out recently in China, imagine how easily they could 51% attack Litecoin with a few of those at this point if they wanted to just end it. Likely they're just milking it for profit but it just goes to show the potential instability.
source please? It's the first time that I see such a statement He's probably talking about stuff like this: https://bitcointalk.org/index.php?topic=341939.0Just rumors at this moment. If you pay attention to hash power of Litecoin, you can see when ASIC's started hitting. Don't be too naive to think the people that make Litecoin ASIC's are not going to milk it for a while before selling them to the public, just like Bitcoin ASIC's. It's more profitable for them to run privately until difficulty reaches X, this it's more profitable to be in the hardware business. Scrypt ASIC might kill Litecoin, the only advantage being able to be mined with GPU profitably might end soon. And Scrypt ASIC in the hands of only one group ? No, thank you |
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All you need to know is how to behave to minimize risk to infect your windows. Check security tips for this. |
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people keep talking about more merchant accepting bitcoin like it somehow make a difference, I don't think so
What we really need at this point to create proper store of value/ payment system purely for internet purposes.
Awareness of feeling of "control" over your money will came later
Specifically we need fast distributed easy to use network for dust operation on top of the bitcoin protocol. If we get one people will rash into it
Otherwise we will be effectively marginalised by financial world
wrong. the more merchants are accepting bitcoin, the less chance they will sell them. Why? because if they accept bitcoin they will prefer to buy something for it instead of going through exchange. And this mean there will be less and less reasons to sell bitcoins and this will drive price up badly. agree but ordinary people will not use bitcoin only because some merchants accepting them. They need something else, much simpler much more powerfull. Something on top of bitcoin I don't know really what exactly Bitcoin could overtake Western Union if you could make buy/sell/transfer Bitcoin in every ATM. |
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