It's not about jealousy, it's about irresponsibility, and breaking trust with your clients.
RS is an obvious amateur when it comes to security.
This is about RS establishing a long pattern of arrogant incompetence to fall back on when mcxNOW gets "hacked" and everybody's funds vaporize. ~BCX~ You wish. |
|
|
|
|
The site is logging me out when I change IP's eg. home/work even though I have disabled logout in the settings.
Using Firefox.
|
|
|
|
[Don't have an asinine look at it all. It is all theoretical from my point of view. YES, THERE ARE HUNDREDS OF THOUSANDS OF COINS TRAPPED IN DORMANT WALLETS RANGING FROM 2009-PRESENT. The comment simply suggests something that can be thought, can be produced. If people can code well enough to hack literally anything given enough time, there isn't much stopping a Government with a money printing machine at their finger tips. If you want to be closed minded feel free. I think someone could produce a private key brute forcer and meticulously hunt down every wallet and rape all of their BTC. Yes, offline wallets, I get it. You have so many arguments you want to rebuttal, but I could care less with your piss poor sportsmanship.
This issue has been discussed here many time, you would need a quantum computer to crack Bitcoin, as explained here: http://bitcoinmagazine.com/6021/bitcoin-is-not-quantum-safe-and-how-we-can-fix/The devs can simply release an update with a different encryption, more coins whatever is agreed upon by the Bitocoin community. US Government money printing machines are irrelevant. As I said most BTC wallets are not in the US, do you think the Chinese really care about getting more increasingly worthless USD? If you want the worlds BTC you have to be prepared to trade something of value for it, not fiat. Try gold perhaps, even better trade goods and services for BTC. |
|
|
|
They can keep confiscating Bitcoin. They will get a few coins that way.  Or they could pay government employees to mine them too. Maybe I should not give them any ideas. Confiscating, lol, most Bitcoin wallets are not in the US. I am sure the ASIC vendors would like government clients. The diff rate may not. I thought this thread was a serious discussion for a moment, but it's seems to have attracted people that don't understand bitcoin at all. |
|
|
|
|
No announcements of maintenance?
|
|
|
|
Got 2 nanofuries mining away overclocked to 53 osc6-bits on my USB 3 hub. Stable for 5½ hours so far. Pool stats: http://eligius.st/~wizkid057/newstats/userstats.php/16kNKa7WUg8QAPFy8dJRv7USSu2fAG2pkW bfgminer version 3.3.0 - Started: [2013-10-16 19:30:51] - [ 0 days 05:34:25]
[M]anage devices [P]ool management [S]ettings [D]isplay options [H]elp [Q]uit
Connected to mining.eligius.st diff 2 with stratum as user 16kNKa7WUg8QAPFy8dJRv7USSu2fAG2pk
Block: ...ec421847 #264187 Diff:268M ( 1.92Ph/s) Started: [00:58:54]
ST:2 F:1 NB:46 AS:0 BW:[100/ 82 B/s] E:11.61 I: 349uBTC/hr BS:39k
2 | 4.49/ 4.58/ 4.49Gh/s | A:10412 R:41+67(1.0%) HW:75/.35%
--------------------------------------------------------------------------------
NFY 0: | 2.27/ 2.27/ 2.21Gh/s | A: 5106 R:19+30(.95%) HW:28/.27%
NFY 1: | 2.30/ 2.31/ 2.28Gh/s | A: 5306 R:22+37(1.1%) HW:47/.44%
--------------------------------------------------------------------------------
[2013-10-17 01:04:39.133427] Accepted 7f12bc92 NFY 1 Diff 2/2
[2013-10-17 01:04:40.187387] Accepted 454b4f89 NFY 1 Diff 3/2
[2013-10-17 01:04:40.751288] Accepted 67e0abdd NFY 0 Diff 2/2
[2013-10-17 01:04:44.327965] Accepted 28d1d632 NFY 0 Diff 6/2
[2013-10-17 01:04:47.043346] Accepted 194a179b NFY 1 Diff 10/2
[2013-10-17 01:04:55.978596] Accepted 1c6fcfd0 NFY 1 Diff 9/2
[2013-10-17 01:04:56.836878] Accepted 7e1929d9 NFY 0 Diff 2/2
[2013-10-17 01:04:57.158243] Accepted 116bee29 NFY 1 Diff 14/2
[2013-10-17 01:04:57.297099] Accepted 04ce8b4c NFY 1 Diff 53/2
[2013-10-17 01:04:58.105164] Accepted 3f2081c5 NFY 1 Diff 4/2
[2013-10-17 01:05:00.583995] Accepted 5dc8bb49 NFY 0 Diff 2/2
[2013-10-17 01:05:02.203167] Accepted 0d08dcc0 NFY 0 Diff 19/2
[2013-10-17 01:05:03.708555] Accepted 6fdf6dc0 NFY 0 Diff 2/2
[2013-10-17 01:05:04.614318] Accepted 63ff6b24 NFY 1 Diff 2/2
[2013-10-17 01:05:05.672861] Accepted 2dfeb64e NFY 0 Diff 5/2
[2013-10-17 01:05:06.126697] Accepted 370eb922 NFY 0 Diff 4/2
[2013-10-17 01:05:06.275658] Accepted 304ba398 NFY 1 Diff 5/2
[2013-10-17 01:05:09.964627] Accepted 1ed02065 NFY 0 Diff 8/2
[2013-10-17 01:05:11.624928] Accepted 1db54bee NFY 0 Diff 8/2
[2013-10-17 01:05:11.769494] Accepted 02aa49ad NFY 1 Diff 96/2
[2013-10-17 01:05:12.659018] Accepted 0b79f1eb NFY 0 Diff 22/2
[2013-10-17 01:05:13.250872] Accepted 781367a3 NFY 0 Diff 2/2
[2013-10-17 01:05:14.877515] Accepted 3e63c5f7 NFY 0 Diff 4/2
[2013-10-17 01:05:17.013139] Accepted 3f623edb NFY 1 Diff 4/2
[2013-10-17 01:05:20.096350] Accepted 1ea01258 NFY 0 Diff 8/2
[2013-10-17 01:05:21.763496] Accepted 2cfa45ec NFY 1 Diff 5/2
[2013-10-17 01:05:26.004017] Stratum from pool 0 requested work update
[2013-10-17 01:05:28.590438] Accepted 7e81a4d8 NFY 0 Diff 2/2
[2013-10-17 01:05:31.426182] Accepted 188138cf NFY 0 Diff 10/2
[2013-10-17 01:05:31.876986] Accepted 544b98b7 NFY 1 Diff 3/2
Fans blowing on them or just static testing? |
|
|
|
I am theorizing that they would control 99%+ of the BTC in existance. This would inevitably leave 118,540.75 BTC in the economy.
Utter nonsense. How would they buy 99% of the BTC when only a small percentage is on exchanges? If there was the slighted hint that the US gov were going to start buying up all the BTC the price would go though the roof to such a point they the US gov would run out of money to buy it, so what would they buy it with, worthless $USD that people don't want? How would the buy the 9mill BTC that haven't been mined yet. Get real. |
|
|
|
So China is about to wake up. Do you think they're going to dump or buy once they see the price?
What makes you think they slept? The Chinese BTC price has been in sync with the rest of the market. Believe it or not, not every owner of Bitcoin in China was awake. I think ony idiots would believe or claim that. Chinese bots trade 24/7 like all the other exchange bots. |
|
|
|
If they buy it ALL then I would LOL at their ignorance. EVERYTHING that runs with BTC would fall, but all of the holders (who must've been 'forced' to sell, theoretically) would make their $ from selling.... unless we are looking at "The Great BTC Confiscation of 2014". I would be amazed if someone could develop a code to 'confiscate' the majority of BTC.
Thoughts?
They obviously can't buy it all, they can only buy what people put up for sale. |
|
|
|
So China is about to wake up. Do you think they're going to dump or buy once they see the price?
What makes you think they slept? The Chinese BTC price has been in sync with the rest of the market. |
|
|
|
|
The US government shutdown was a fake to manipulate public opinion, all those government workers laid off are getting back paid. Therefore they cost the tax payer exactly the same, but they got a weeks holiday with pay! They will probably get another week in February next year.
The US are trying to convince the public that big government and austerity are necessary. Where in history have we heard that story before?
Because the crisis is a fake, it's no great impact on BTC. What it does do is undermine the other countries confidence in the US government, and they might start working on ways to reduce exposure to USD. eg. the deal two Australian banks did back in April to be able to trade directly with the peoples bank of China.
|
|
|
|
|
It would be great for the Bitcoin price if the US Gov bought more of it an mothballed it. Bring it on!
|
|
|
|
|
Government shutdown is almost over. The fake crisis has been 11th hour averted as we all knew it would be. See you again on Feb 17th for the next manufactured installment.
|
|
|
|
And what about inflation of electricity price? You think it will be still $0.15/kWH?
Also, banking sector is now using millions of human workforce, that doesn't count as energy? Every employee needs to heat his/her water, home, cook his/her meal... Bitcoin always comes out as cheaper energy wise, because it's cheaper money wise.
The banking sector doesn't cease to exist because a currency changes. It will still consume whatever it does. |
|
|
|
|
One of the things that is happening is the ASiC suppliers are focusing on big farms and not small miners, that trend will continue, however some ASIC suppliers will end up just selling bulk chips, so the DIY market should continue although it will lag behind the corporate farm shipments. Remember that it's the lowest Wattage per GH/s that will end up winning, as ther is no such thing as free electricity.
|
|
|
|
Large farms mostly. All my new clients are getting bigger with the amount of gear they are throwing at this.
Your colo clients will be the first to go. The thousands of home miners completing with the large colo clients don't have to pay colo costs including running aircon and your wages. Just wait and see. BTC was designed to absorb all the margin with rising energy costs, until only the rigs with low overheads are left standing. |
|
|
|
|
These threads pop up ever week, and it's the same story. The people that will be still mining in a years time, are the ones that don't have to pay for air conditioning, data center space, and staff wages. So that pretty much means the thousands of small home mining rigs. The big corporate farms have way too many overheads, and they will just fold each out out of business.
|
|
|
|
And securing the bitcoin network takes 10x more electricity than the US produces? You've pulled that out of your ass as well and I call bullshit on that one.
You obviously don't comprehend what other people write very well, I understood what he was saying, it's was an extrapolation as to the energy consumption that would occur if Bitcoin was to replace USD and miners kept on adding gear as they do now until it was no longer profitable due to energy costs. It's not very hard to calculate if you know the final value of Bitcoin in terms of USD and the typical electricity price, not rocket science. Of course it 's unlikely to happen as banks wouldn't stand for it, but it does emphasize the absurd potential energy usage which is directly proportional to any rise in the BTC/USD exchange rate. Next diff change in 249 blocks looks like it might be over 260mill. |
|
|
|
I just think it's silly to complain about energy waste of bitcoin mining when it would actually save energy if gold and paper fiat currency were replaced by bitcoin.
Stating that as fact doesnt make for one. If only US dollar would be replaced by bitcoin, how much would 1 bitcoin be worth? Lets assume very conservatively there are only 10 trillion dollar. Divided by 21 million bitcoin gives ~$500K per btc. So hypothetically, how much energy would be consumed by the bitcoin network once it would have stabilized? As much as it would earn in mining. Per year we would mine ~1.3M BTC or $657,000,000,000 worth of bitcoins. Assume $0.15/KWH that works to 4,380,000,000,000 KWh or 4,380 TWh Thats 5x more than the US produces in nuclear power. and almost exactly equals the total electricity production in the US (4300 TWh). Funny coincidence. Yeah, lets replace the dollar with bitcoin to save the environment Those large figure would happen if you tried to peg the USD and BTC, that's not necessary. You only need enough currency to cover transactions for goods and services. People can use other currencies for gambling, investment etc. the production of USD has blown out of proportion because it's not just being used for transactions as originally intended, but as a speculative vehicle in it's own right. When the USD was pegged to the gold standard, there were far less USD in circulation, as soon as it unpegged things got rather silly. To use crypto as a currency for goods and services you would do it in parallel to USD, like is happening atm, and gradually cut over, you wouldn't focus on exchange. BTC exchanges only account for about 3-4% of daily transactions. The point being is that electricity priced in BTC may not be anything like electricity priced in USD because USD is so inflated that the utilities would have to rethink their pricing model. Next difficulty is in 337 blocks, and it looks like going over 250mill. |
|
|
|
|
Show Posts
