I wonder if they would they notice the decrease in price before it's too late? When I was mining heavily I would go for days without even checking my miners. Pissed me off one time because I found a blown hd5970 and checked my hash rate on Deepbit only to find out that it stopped working 3 days prior.
Didn't you just answer your own question? Good, then I made my point. They wouldn't notice before it's too late. That argument is flawed. The remedy of a decrease in price if a pool passes a threshold is also ridiculous because they may not be in it for the money. They may be a mini LukeJr clone and just be interested in the destruction. |
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I wonder if they would they notice the decrease in price before it's too late? When I was mining heavily I would go for days without even checking my miners. Pissed me off one time because I found a blown hd5970 and checked my hash rate on Deepbit only to find out that it stopped working 3 days prior.
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It doesn't matter if the honest nodes don't want to accept anything from the attacker.
The attacker has enough hashrate to change the rules. How is the attacker (a miner and node(s)) going to force me to change the software (node) on my computer so he can modify the rules of the protocol? Easy, he can't. Seriously, either I didn't get what a 51% ownership of the network is, or you still don't understand the dangers of it.
Don't know which.
Maybe someone more knowledgeable on the subject can elaborate.......
Have you read the wiki which gives a very simple explanation of what an attacker with a lot of hash power can and can not do?Have you? Please stop arguing when you dont understand crap. Having a longest chain doesnt mean they can change the rules. The rules are set by nodes. In the event of 51%, there will be a folk of blockchains. The network can react by completely ignore blocks from the attacker (updating client required). This is a complete hard fork. Hence we only see this as disruptive attack. Its still a damage to bitcoin. Now, since GHash is a pool, the second they do this attack, its clients will move their hashrate else where and GHash will have nothing but shot themself in the foot. The practicality of this attack is close to nil. There is better way of hurting btc for far less the cost. CoiledCoin used merged mining similar to Namecoin. LukeJr was able to use Eligius' combined hashing power to execute a 51% attack against the new CoiledCoin blockchain. The Eligius-mined blocks contained no transactions, effectively slowing the function of the Coiledcoin network to a crawl. The same could be done with Bitcoin. I don't really think Ghash.IO has any intent to do anything but profit from being the largest pool any more than I thought Tycho intended to harm Bitcoin when Deepbit was the front runner. The possibility exists that a government or other entity that wants to harm Bitcoin does not need to invest a fortune in equipment to do damage. They can simply use your equipment to do it. PoW is a flaw that needs to be corrected before Bitcoin exits beta and becomes production software. Many would say Bitcoin is no longer in beta because the market cap says so. If that's true then this problem needs to be solved now before anyone loses any more money to this experiment. You're missing a key point is that Eligius Bitcoin miners dont mine or care for scamcoins about anything but profit hence Luke Ghash can effectively disrupt the network for a long time (he becomes a single largest miner in the Bitcoin that scamcoin's network). Another point is the remaining miners scamcoin's participants are not robust enough to effectively ignore Ghash.IO Eligius. Everyone is in it for pump and dump including many Bitcoiners ( get rich quick scheme) FIFY |
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It doesn't matter if the honest nodes don't want to accept anything from the attacker.
The attacker has enough hashrate to change the rules. How is the attacker (a miner and node(s)) going to force me to change the software (node) on my computer so he can modify the rules of the protocol? Easy, he can't. Seriously, either I didn't get what a 51% ownership of the network is, or you still don't understand the dangers of it.
Don't know which.
Maybe someone more knowledgeable on the subject can elaborate.......
Have you read the wiki which gives a very simple explanation of what an attacker with a lot of hash power can and can not do?Have you? Please stop arguing when you dont understand crap. Having a longest chain doesnt mean they can change the rules. The rules are set by nodes. In the event of 51%, there will be a folk of blockchains. The network can react by completely ignore blocks from the attacker (updating client required). This is a complete hard fork. Hence we only see this as disruptive attack. Its still a damage to bitcoin. Now, since GHash is a pool, the second they do this attack, its clients will move their hashrate else where and GHash will have nothing but shot themself in the foot. The practicality of this attack is close to nil. There is better way of hurting btc for far less the cost. CoiledCoin used merged mining similar to Namecoin. LukeJr was able to use Eligius' combined hashing power to execute a 51% attack against the new CoiledCoin blockchain. The Eligius-mined blocks contained no transactions, effectively slowing the function of the Coiledcoin network to a crawl. The same could be done with Bitcoin. I don't really think Ghash.IO has any intent to do anything but profit from being the largest pool any more than I thought Tycho intended to harm Bitcoin when Deepbit was the front runner. The possibility exists that a government or other entity that wants to harm Bitcoin does not need to invest a fortune in equipment to do damage. They can simply use your equipment to do it. PoW is a flaw that needs to be corrected before Bitcoin exits beta and becomes production software. Many would say Bitcoin is no longer in beta because the market cap says so. If that's true then this problem needs to be solved now before anyone loses any more money to this experiment. |
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The AMT people caught up with him. He's wearing Cement shoes.
Oddly enough, I almost believe that. |
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Inquiring minds want to know.  |
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In the beginning it was all a dream for the cream Now it is to hedge against fiat money and get away from trusting banks and governments. Also I believe there is huge potential in bitcoin. I think in the future that it will be used in ways we cannot imagine today. And of course get filthy rich at the same time  You're alone there. The rest of us use Bitcoin for our health.  Seriously, Bitcoin will never grow to huge numbers of users until users outnumber speculators and investors. |
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I don't think describing it in such a negative fashion was such a good move. I don't think bitcoin or the code is slop at all.
You need to look into it more closely. Isn't it unusual to call something a transaction ID when it can be changed? At the very least it's misleading to call something a transaction ID when it doesn't identify a transaction, right? Do you think it's a good idea to have millions of dollars running around a system that a single pool attacker can destroy and devs have known about the problem for years? Don't you think it's a little weird that no one has implemented pruning yet even though Satoshi himself talked about the eventual need? Why are businesses required to make transactions fast by accepting 0-confirm transactions? Can't that problem be fixed? There have been so many cover your ass responses from Bitcoin devs in the last couple of years that I really don't trust anything they say. Byrne is right, Bitcoins code is sloppy and needs improvement. |
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I've never used anything like Western Union before. I guess I don't have to now with bitcoin. WU seem to be hated only second to PP on here.
Of course! Don't you always hate competition? Problem is, Americans consumers are fools and they will always be fools. They are led around by advertising, promotions and coupons. Bitcoin is tiny and unorganized. Large corporations have been manipulating this system for years and so have their advertising companies. Bitcoin already has an uphill battle to fight because of all the bad press since it's inception. When advertising kicks in that hill is going to turn into Mt Everest. |
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This guy really hates the government and Wall Street. I wonder if someday one of those CIA guys wearing all black will be waiting in his bedroom closet for him to come home?
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What's funny about it?
There's nothing funny about it. Bitcoin is going to get more and more real world competition from businesses that are already established. These existing companies have been making huge profits for decades and can afford deep discounts to keep their business. I can already imagine some of the future adverts: Who you gonna trust with your money?This guy:
Or this guy: |
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lol do you seriously want to know.
anyway AceWallen, got to love bitpay for that, instant speed transaction, me likes.
Yeah, I think she should link to a bucket pic somewhere. Tits or gtfo. BitPay and other companies are getting rich by taking on the risk of instant transactions. I wonder what their losses actually are? I bet it's petty small. |
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Pirate@40 is the loser in the whole deal. The passthroughs are the ones that really cleaned up. I seriously doubt you will ever get anything back. Have you thought about turning him in to some three letter agency as revenge? Maybe the SEC is also interested in the passthroughs?
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everytime i've paid with bitcoin -- which is generally through Bitpay -- the transaction is instant/zero-confirmation, assuming i have sent an adequate miner's fee.
That's right, zero confirm transactions are the way to speed things along but they do come with a risk. BTW OP, do you really have banana nipples? |
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The fact that plants and animals change (evolve) only suggests that they did it.
Yes, but not everyone agrees even on that. ( Biblical fundamentalists ). I thought that's what we were talking about. Natural selection always sounded plausible to me... but i'm certainly open to other theories and evidence...although doesn't seem like anyone can really explain those mechanisms. I can explain them - the Angels did it. lol |
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Stuff.
More stuff
Irrelevant stuff. American insanity. More Americans Believe in Angels than Global Warming I’m not sure whether to be amused or frightened by this juxtaposition of polls by Blake Hounshell: Percentage of Americans who believe in angels: 55 Percentage of Americans who believe in evolution: 39 Percentage of Americans who believe in anthropogenic global warming: 36 Percentage of Americans who believe in ghosts: 34 Percentage of Americans who believe in UFOs: 34 http://www.outsidethebeltway.com/more_americans_believe_in_angels_than_global_warming/ |
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At least he was intelligent enough to run his scam operation in a country where he can screw all of you and get away with it unlike that idiot Trendon Shavers. If pirate had half a brain he would have taken all the Bitcoins and run to Panama.
Trendon did kind of get away with it. He got away with the crime not the money. That fat latte bellied hello kitty loving fucktard Karpeles got away with both. Did you lose any money in mtgox? Yep, I did. Wow, man. I feel really sorry for you. If I lost my current bitcoin holding to someone like him and afterwards could see him just enjoying life and tweeting about sunsets like he didn't give a fuck or had a care in life, I really don't know what I would do. I guess it's not really that big a deal. I only lost about 120 coins at Gox. Could have been much worse but a trusted friend warned me to take most of it out a couple of months before Gox lost their bank account. I wanted to leave a little in there to trade with. Although, it would be nice if someone set him on fire while slowly chopping off his fingers one at a time. Only 120 BTC? That's $72k at today's exchange rate and next year it will hurt much more. Did you buy your trusted friend a beer yet? If not, do that ASAP Dude, at one point I had over 1800 btc at Gox and yeah, I've thanked him many times and bought him many beers since. In fact, just a few weeks ago we had drinks at Elbo Room in the Valencia corridor on my dime. |
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Survey Says Most Americans Lie On Surveys
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At least he was intelligent enough to run his scam operation in a country where he can screw all of you and get away with it unlike that idiot Trendon Shavers. If pirate had half a brain he would have taken all the Bitcoins and run to Panama.
Trendon did kind of get away with it. He got away with the crime not the money. That fat latte bellied hello kitty loving fucktard Karpeles got away with both. Did you lose any money in mtgox? Yep, I did. Wow, man. I feel really sorry for you. If I lost my current bitcoin holding to someone like him and afterwards could see him just enjoying life and tweeting about sunsets like he didn't give a fuck or had a care in life, I really don't know what I would do. I guess it's not really that big a deal. I only lost about 120 coins at Gox. Could have been much worse but a trusted friend warned me to take most of it out a couple of months before Gox lost their bank account. I wanted to leave a little in there to trade with. Although, it would be nice if someone set him on fire while slowly chopping off his fingers one at a time. |
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