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 You're just proving your stupidity. Bitcoin miners are not mining scamcoins on Eligius. They're mining BTC. Your air head just doesnt get it does it? Did you're mother have any children that lived dumb fuck? I guess you're too fucking stupid to realize the same things your stupid ass thinks could happen only to an altcoin can happen to Bitcoin too. Come back when you grow up and learn to recognize subtleties. My ignore list just keeps growing. Good job digging yourself a bigger hole dumb ass. You forget the part that miners mining bitcoins have financial incentives which they dont with scam coins. Now i dont feel sorry for you at all losing money to the scams, suck living a hater's life. |
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I wonder where the old smart members are? They dont seem to post anymore.
So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30).
Its amusing that the noobs seem to be more optimistic about bitcoin.
The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree. Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact. Then you're dumb as a rock. 25k btc back then was barely worth your life. Hindsight 20/20 remember? I dont blame the victims but ofcourse i expect to see frauds and scams b4 btc can be mature. If btc cant survive those scams, btc already fails. And what makes you think the noobs dont know jack about btc? lol ... Their posts. ROFL And do your posts say about you knowing jack shit? Fuck no. At least with noobs, its reasonable to see. |
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remember noobs, selecting tx based on fees is straight forward.
Other than that, you're just fcking around without knowing jack about TXs.
Actually, I wrote my own python-based bitcoin client a year or so ago. and that's all I have to say about that. And your python-based client (which is mostly done already on github) does jack shit about what you're proposing. We've discussed about tainted coin analysis long b4 your "own client" being worked on. Moving on noob. |
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I am not sure how it would fit into their business model. It is more likely to destroy it than anything.
I challenge you to use your imagination. They don't have to let customers know that they are using BTC in their system. The entire customer experience from beginning to end doesn't need to change at all, not a single letter or number on any of their documents, rules, or contracts needs to change in order for them to fully integrate BTC into their systems and pass massive savings and speed improvements onto the consumers. Bitcoin is not really a currency. It is a protocol. All they need to do is attach small text messages to single Satoshi units and send them back and forth between their servers. The message on each Satoshi would read something like "Transfer $500 to Location AB1786584 Confimation Code 3486596". Right now, Western Union is using ancient credit card payment technology that requires many intermediary services for their encrypted messages to reach around the world. With bitcoin, they could send everything directly from start to end location with nothing in between. They never even need to say "we are using bitcoin to do this US dollar transaction for you", they just do it, just like they use parts of other encrypted data transfer services right now without telling you exactly which one they use and when they use it. You can do anything with bitcoin in any way that you want. Will they start to offer actual bitcoin amount transfers soon? Yes, but it is far more likely that their first step in using bitcoin will come as a single satoshi transfer to make standard currency transfers extremely efficient, and if that seems to be working well, then they might start servicing bitcoin transfers directly. That was easy. Sure it was easy because its completely dumb They can do all that with an internal protocol. Why would they need blockchain to "send a message"? Do you even understand what public ledger means? Do you really think they're transferring money thro creditcard network? Think b4 wasting internet bandwidth pls. Bitcoin doesnt need transferring service period. Thats the problem with fiat money. Transferring money (fiat) thro bitcoin network is basically utilizing btc exchanges. |
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If you think GHash.io is big, wait til you see IBM, VISA, China, Iceland, etc mining.
LOL .... All these 51% threads are still better than "ASIC will KILL btc" threads.... dont you agree? |
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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 You're just proving your stupidity. Bitcoin miners are not mining scamcoins on Eligius. They're mining BTC. Your air head just doesnt get it does it? |
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Then you're dumb as a rock. 25k btc back then was barely worth your life. No amount of money is ever worth a human life. The fact that so many people think that way really cuts to the heart of the reason I so passionately despise capitalism. Agree. The current monetary system is nothing but poison to humanity. |
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Yes this guys is very well respected. Hes been educating ppl about fiat money being nothing but a ponzi scheme.
Hes one of the smartest gold bug and certainly not in it just for "money" like Peter "Smuck".
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remember noobs, selecting tx based on fees is straight forward.
Other than that, you're just fcking around without knowing jack about TXs.
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I wonder where the old smart members are? They dont seem to post anymore.
So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30).
Its amusing that the noobs seem to be more optimistic about bitcoin.
The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree. Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact. Then you're dumb as a rock. 25k btc back then was barely worth your life. Hindsight 20/20 remember? I dont blame the victims but ofcourse i expect to see frauds and scams b4 btc can be mature. If btc cant survive those scams, btc already fails. And what makes you think the noobs dont know jack about btc? lol ... |
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I wonder where the old smart members are? They dont seem to post anymore.
So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30).
Its amusing that the noobs seem to be more optimistic about bitcoin.
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what the fck is "lawful money"?
You Americans should stand up for your own constitutions.
If i want to use peanuts as money, do i need to ask if its "lawful"?
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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 miners dont mine or care for scamcoins hence Luke can effectively disrupt the network for a long time ( he becomes a single largest miner in that scamcoin's network). Another point is the scamcoin's participants are not robust enough to effectively ignore Eligius. Everyone is in it for pump and dump ( get rich quick scheme) |
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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. |
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I think that alot of people on this board will become citizens of St. Kitts, 200k is not too big a deal for the benefits.
The nice thing with the St Kitts program is you spend the $400k to buy real estate and you can sell it again in 5 years so you are essentially investing in real estate there which may appreciate, or at least won't lose all its value and then you can get it back later. So if you don't mind having your money tied up for 5 years, it is a good deal. IF you are looking for that kind of thing. If you think about it, its just a ponzi scheme. Btw, Roger Ver is a fraudster and scammer. The MtGox fiasco proved this. I've warned ppl on here many times b4 MtGox went south. I can strongly say hes in it with Marks. |
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with their inaccuracies in their reporting, shown by that lack of research and simple copy and paste jobs from other media, whom are also too quick to post 'news'
and their lack of anything truly informative,
do people actually still read coindesk?
+1 Only noobs read that site. In the Press section, there is a shill keep posting CD's bullshit. |
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Man we are on a roll lately. If they get it going in time I will cancel my hotel reservations for my August trip and rebook them with bit coin.
Try it again, i heard they got the integration done |
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God damn, they only sell subpar products They need some real designers brand for their jewelries. As for watches,.... are they competing with Walmart?  |
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some BS drama or joke on tweeter is even a thread worthy on here?
Fcking noobs, did you lose money trading and now turn a worthless troll ?
Get the fck off,
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... how is the exhaust air temperature measured? where is the sensor located and what type of sensor is it? (possible the name and model ) I assume the front/back temp are intake/exhaust air temp ...
It's the weekend in Israel, it might take few days to answer Understood, Btw, what is the command line for checking stats of the miner? |
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