In fact, ASIC is the only thing that can prevent 51% attack. Why? Today there are banks, financial
institutions, intelligence organizations that have super-computers, consisting of thousand and thousands
of CPUs or GPUs. These grids are used to run financial analysis, mostly Monte-Carlo.
Imagine "Societe General" in France for example. They have a GPU array of 15,000. If for financial
interests or certain other reasons, they decided to switch to BitCoin for a week. This grid alone can
give them over 15TH in processing power... this will not be 51% attack, it will be 120% attack.
This is just one bank, activating only one of its grids.
As long as the algorithm used in BitCoin can be effectively implemented in CPU or GPUs, network will always
be under threat. Scrypt won't be good either, since many institutions have grids of several thousand CPUs.
The only thing that can stop it is the ASIC. Imagine tomorrow the processing power of the BitCoin network
is 2,000TH. This is something super-computers cannot attack, simply because their combined processing
power cannot reach even 10% of it, let alone 51% attack....
Regards,
BF Labs Inc.
Glad to see you can't do math. Assuming the network is 10TH, if France adds 15TH, they won't be doing a 120% attack. They'll be doing a 60% attack. 15/(10+15) = .6 |
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Just a heads up, .B payments went out early today. I was planning to do .A as well, but some stuff came up. They'll go out according to schedule tomorrow.  |
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Except that anyone can cash you out which is sub optimal...
quite sub optimal. Please change this. I have changed my mind on this. Please leave the system exactly the way it is.  You like getting little micropayments occasionally? Or did you decide that it wasn't a risk since the address couldn't be changed? Don't change this. Leave exactly as is. |
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Are the overclocking settings prompted as well when you first boot up? I'm at work so I can't test the configuration at the moment or I would. Thanks!!
No, by default it will use whatever the card is set at. If you set the config in trixx, close trixx, then start cgminer, cgminer should use the current card settings that trixx had set. Once you save the config file, it should save the adjusted clocks and not the default clocks. From then on, you don't need to use trixx. You can actually adjust all of that once cgminer is running from within its menus. The startup routine will only ask about pool information. |
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Well, with cgminer, you don't need to use trixx at all. If you start cgminer, it'll prompt you for what it needs (pool info) and then start running. Once its running, you can change the card speed, memory speed, etc and then save the cgminer config to a file so that the next time cgminer starts, it has all of its settings retained.
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I will do my best to itemize everything that was bought and sold.
My electricity cost here was a major reason the mining did not work, and id say over the two months there was a decent portion spent on that. (Maybe 10%)
Anyways, I didnt purchase anything for myself ( like a scammer would) or cash out any money to cash unless to buy parts. so most everything should be accountable.
Im not petty in a way that even if i didnt do anything wrong and you lost money i wouldnt try to repay it if i am a focal point of losing the money. What im saying is before i have people disliking me i would pay them regardless if its my fault. Well as long as i have the personal money, without any personal money i dont even have that option.
Anyways we will sort all this out...
I have a pretty demanding day job which is different compared to last time because bitcoins were my day job. So the freakish response times and availability i became known for is not going to be happening for the time being.
You started a bitcoin mining company, contributed assets, sold some shares for <50% of the company. Once some shares sold, you decided it wasn't profitable to mine so you floundered around for a direction to go. You attempted to sell more shares but nobody bought this time. In the meantime, you started to mine solidcoins for at least a short period of time. You promised there would be a liquidation and that you would refund even if it meant coming out of pocket. You sent Nef 40 btc, he got in an accident and then you disappeared. You come back now with a bad cause of the 'I forgot what happened' even though all it takes is reviewing this thread to get a good idea of what went on. I draw issue with the following: - You repeatedly failed to provide an accounting of the btc and/or hardware. When asked, your response was that it wasn't worth talking about because there wasn't much there. If there wasn't much there, it shouldn't have taken long to put together a listing.
- Attempting to change the purpose of the company without ever putting it to a vote. While you did retain a 51% majority, there should have still been a public vote on it. Instead, on July 09, 2011, 01:15:24 PM, you announced that you were taking the company in a different direction.
- You imply that their investment in the mining company was a gamble is true to a certain degree. Any business is a risk. You changed the terms with your wanting to merge the companies however, which means they couldn't properly calculate the risk.
- You promised refunds repeatedly, even if it meant covering them out of pocket. When it came time to issue the refunds though, you made a token refund and then disappeared.
- You've now reappeared after your extended absence with a memory failure.
I acknowledge Shakaru is a liar, but at some point, even liars tell a shred of truth. I have to wonder how much truth Shakaru spoke when referring to your deal with him, now that you've shown your word is less than 100%. |
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It really doesn't matter at this point anyway. BFL has a tendency to be off on their initial estimates anyway.
The were spot on with the MiniRig. Actually, they over/underestimated (in the good way) for the MiniRig. I wasn't taking a swipe, I just mean their estimates are only that, so if the numbers can go either way.. it doesn't make much sense stabbing blindly in the dark until they release firmer numbers. |
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Should I be worried if cgminer reports near 3.2 gh all the time, but gpumax goes up and down (anywhere from 200 mh to 2.8 gh) as often as every 15 seconds?
Been seeing this for a couple of days.
I've been watching the shares trying to gauge any reduction. Seems a little slower and they're split across public and private.
I know this question has been answered before, but I will do it again. Cgminer reports what it thinks is its hash speed basic on the work it is doing. The pool however, doesn't actually know what work a client is doing until it reports back the shares, which means your hashrate pool side is approximated using the shares you return. During periods of bad luck, your hashrate will appear lower and during periods of good luck, your hashrate will appear higher. Different pools have different styles of weighting the averages so you don't notice the peaks and valleys as much and the hashrate appears more constant. Obviously, all of the above ignores connection type issues. If cgminer is sending part of your hashrate to a second and/or third and/or fourth (etc), then of course each pool will only show the hashrate that they know about. Even when considering all of the above, its possible for cgminer and the pool to not quite match. Long story short, don't go by the immediate averages, look at things a little more 'big picture' over the course of an hour or two. |
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They said USB coffee warmer (3.5GH), but they didn't say it gets powered without requiring an external power supply, or doesn't use a 2xUSB cable splitter to get twice the wattage, so we don't know for sure that it's 2 watts.
Yeah i'd like more clairification on this too, I've asked before, But other fourm members just quote apart of BFL's statement about the device, emblod a word and say "a USB powered coffee war-" It really doesn't matter at this point anyway. BFL has a tendency to be off on their initial estimates anyway. |
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Has anyone thought to run this by Zux or Pirate? You might be breaking their TOS. [2012/06/27 14:21:10] <@zux0r> let me clarify, it's not against TOS
[2012/06/27 14:21:26] <@zux0r> it's just a risk for the people giving out their creds |
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Pirate, dont you think of stopping this flud, i dont think that this thread is meant for it. It would be hard to find useful info...
of course that`s my IMHO.
It doesn't matter what I say, the critics are always ready to pounce.   MEOW! |
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Only accepting BTC and wire transfer is weird. This has yet to be answered. Why are they not accepting Dwolla and Paypal anymore?
I don't remember where I read it, but I seem to recall BFL's reason for accepting only bitcoins at first was to 'support bitcoin', but then the wire transfer option ended up being on the form anyway. |
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It's a good question given their track record. That said, in the past they were new at this and selling to a skeptical client base. I assume if they are smart enough to build and ASIC they are smart enough to solve their supply chain bottlenecks.
Assuming killed the cat.. or something. |
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OK I can see that happening in the face of a sudden dramatic drop in network hash power, which at this point I find unlikely. Taking your example further, we could say that for a diff of 1.7m, a drop to 3Th/s would need only 3 more Th/s to 51%, however it would be extremely boring because the network would be functioning at half speed and everything would take twice as long to occur.
What I am saying is true even if the hash rate suddenly increases by 2x. If it does, then you would need 24 Thash/s to perform a majority attack, while the difficulty would still be 1.7M. There. I gave you 3 scenarios where you would need either 6 Thash/s, or 12 Thash/s, or 24 Thash/s, to perform an attack, and in all 3 cases the difficulty would still be 1.7M for up to 2016 blocks. The bottom line is that the difficulty factor is an average of the last full chunk of 2016 blocks, whereas a majority attack only needs to be executed for a handful of blocks (depending on how many confirmations are required by the recipient you are planning to double spend), and the global hash rate can vary either up or down quickly between these 2 intervals. That is part of the reason that people are told to wait for at least 6 confirmations. If people actually follow that (the major exchanges do), it means the 51% has to drop at least that many blocks in a row to be successful. |
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I don't see this advantage, 'you' have the option of completely withdrawing your order, 'we' MUST pay more or lose the initial investment. Remembering that the profitability of this additional investment is by no means assured. Lucky? The message posted from Jody indicates anyone that paid with BTC cannot cancel their order. You've got hardware. You can sell it in 3 months for $599, but can earn coins on it right now. The people waiting on old orders can also sell in 3 months for $599, but they don't have the luxury of mining on it. So if they sell, they've essentially been out of their money for 3-6 months and have nothing to show for it. |
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Do you guys have the same results when right clicking CCC tasksbar icon? I have two 5850's connected but ccc is showing 6!  Yeah, its all the display ports. |
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Most seem to agree that people who already have money tied up in orders, should not be forced to the end of the line. We can't even get a hold of Butterfly to get our money back and place a order. I bought 4 just because they announced they were letting us trade them in at 100% value. Which turned out to be only part of the story. Basically who ever paid them first should receive their units first. The longer they hold our money the more it costs us.
While I sympathize, how is yours different to the situation those of us holding BFL kit find ourselves in? We parted with our money well before you, for products that now may not pay for themselves. Of course, we did the only thing we could, give them more of our money and hope to land far enough towards the front of the order queue to make anything back. Its a shit sandwich for (nearly) everyone. At least with you holding BFL kit, you're getting to generate with it. Not all of us are that lucky. |
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@smickles What software do you use to generate that report, it is very clean, surely you don't do it by hand  sorry for the late reply. I have had some traveling to take care of. of course I don't generate the reports by hand. I use a text editor hardcore  |
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