Bitcoin Forum
June 18, 2018, 08:18:29 AM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
  Home Help Search Donate Login Register  
  Show Posts
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 »
1  Other / Beginners & Help / Re: Are similar crashes less likely now? on: June 13, 2013, 02:57:10 PM
Market still in infant stages, of course it could happen again
2  Other / Beginners & Help / Re: Time for me to start posting.. on: June 13, 2013, 02:56:33 PM
I think you'll find yourself right at home Smiley
3  Economy / Trading Discussion / Re: TRADING BOT: iTrader - Trade your cryptocurrencies... Professionally! on: June 13, 2013, 02:53:13 PM
Is this legit?
4  Economy / Trading Discussion / Re: The future of Bitcoin exchanges? on: June 13, 2013, 02:51:56 PM
I imagine as time progresses more people will begin using alternative exchanges other then mtgox.
5  Other / Politics & Society / Re: Big Pharma conspiracy confirmed. The system of greed is collapsing. on: June 13, 2013, 02:48:24 PM
The system of "greed" is just how capitalism works.
6  Other / Politics & Society / Re: Article: Bitcoin Group seeks to double staff - to four on: June 13, 2013, 02:47:38 PM
It is interesting to see this posted in a government magazine.. hmm.
7  Other / Politics & Society / Re: Scientist tear a hole in time! on: June 13, 2013, 02:46:41 PM
Wow this is interesting! science is so interesting only time will tell how the future looks..
8  Other / Politics & Society / Re: Defending an Open, Global, Secure, and Resilient Internet on: June 13, 2013, 02:45:36 PM
Started watching it , got boring and I had to stop :/
9  Other / Politics & Society / Re: DOJ & FBI raid news media offices after releasing story on Obama... on: June 13, 2013, 02:44:26 PM
Obama is a citizen.. And if you say hes not your foolish.

He's not my foolish.  What's going to happen to me?

Sorry, that just makes no sense.
10  Other / Politics & Society / Re: Stand with Edward Snowden on: June 13, 2013, 02:42:42 PM
I suggest more people sign this, its the right thing to do
11  Other / Politics & Society / Re: The Biggist Threat To Decentralized Crypto-Currency And The Bitcoin Ideology on: June 13, 2013, 02:41:37 PM
Hello fellow MineCoinians,

      I am a true believer in the pure and honest morality of freedom and even though I am fairly new to the crypto-currency community, for this reason I am very excited about the ultimate potential of the BTCitcoin ideology. Though I hold no religious theology as true and absolute, I do believe that man has, over the eons, collected a great deal of wisdom and that wisdom is most of often found in the various religious text of history. One of the most quoted religious phrases from the hebrew and christian bible is that 'money is the root of all evil.' You most likely have heard this phrase many times before, but that phrase does not exist. What is actually written is that 'the LOVE of money is the root of all evil.' It is this fragment of ancestrial wisdom that I wish to bring to lite so as to address the logic behind my assertion. Decentralization, the very foundation of the Bitcoin ideology, is at serious risk of annialation.

      First and foremost I want to be honest about what brought me to this moment in my life. I am a college student studing for a double major (computer enginering and physics) and working towards an eventual PHD. Because of past mistakes I have serious financial trouble so holding a job wouldn't be worth it after creditors and uncle Sam take their cut from my paycheck. I was searching online for a way to make an income that would not take to much time away from my studies when I came across I immediately downloaded and installed bitcoin-qt and the bitminter client and fired up my GTX690. After some days passed it became apparent that it was going to take awhile to make very much money at all so I started to research my options. This research of course revealed the world of FPGA mining rigs and the latest holy grail of miners... the ASICs rig. At that point I became very discouraged, not so much because FPGA and ASICs hardware was too expensive and out of reach, but that FPGA and ASICs hardware was too expensive and out of reach for me in my situation. This fact is the critical link that enduced my awarness of the major point I wish to make in this article.

     I did alot of brainstorming trying to figure out a way to improve my situation and I came to one inevitable conclusion, I cannot do it alone. The best option I could imagine was to set up a special mining pool just for raising funds to build/purchase an ASICs mining farm soley to provide all the mining participants in the pool with their own ASICs rigs. This is another key to my argument, as I conducted my research on mining pools I became highly aware of the negative impact that a scarce supply of ASIC mining hardware will have.

     There will always be disparity between classes in wealth, thats just the nature of life. Bitcoin mining has offered a more level playing field because with careful planning and proper financial structuring an individual could start a small mining venture and grow that effort and diligence into operating rigs that have a respectful hashrates. ASICs technology threatens the balance that has exists untile now because it is disruptive to this level playing field. Those who can afford to pay a premium to adopt ASICs hardware early have such a massive hashing advantage that even the advantages of the best FPGA setup will rapidly evaporate as difficulty levels rise at a sudo exponential rate. This leades the FPGA miners scrambling for extra FPGA units and trying to squeeze out every last drop of effency from their FPGA setup. The run on ASICs and FPGAs raises the prices and causes an increasingly diminished supply of ASICS and FPGA units.

     GPU miners tend to be the types of people that have limited resources, dual purposing by using their rigs for example; gaming and mining, or are trying to earn enough coin to upgrade to better mining rigs. Humble GPU mining can still be (to an ever decreasing extent) vaible for some miners and a few short months ago had pretty decent hashrates but not for much longer. The GPU miners are rapidly being left out in the deep, cold emptiness of crypto-mining space with warp drives that are failing because of a quantum shift in the alternate laws of mining physics.

     GPU miners are further disparaged by the scarcity and rising prices of FPGA and new ASIC hardware.  GPU miners generally cannot afford or cannot aquire the hardware to upgrade. This furthers the class divide between GPU miners and those who can afford to pay a premium and adopt ASICs hardware early and the FPGA miners who are able to keep up then, eventually, transition to ASICs hardware. By the time the few remaining GPU miners are able to upgrade, many of them may never be able to catch up, mstly due to the hardware requirements making mining feasible have continued to increase at an sudo exponential rate without their participation. To further the STAR TREK analogy, these straggling GPU miners will be droped from the warp conduit simply because they ran out of antimatter while trying to catch up to bigger, faster and more advanced starships leaving them disparagingly adrift forever in the sameness of space as the disenfranchised GPU miners that preceded them.

     This is the type of situation that has historically given rise to desperate levels of poverty in ordinary societies, it is simple economics coupled with human self protectionism. A digital future is our worlds destiny and whether or not bitcoin will survive far into that future is irrelevant, but the conduct of the bitcoin community will greatly influence the nature of humanities destiny within that future and is instrumental in laying the foundation for what kind of society humanities future is built on. So how we, the bitcoin community, behave during this transitional shift has profound significance for the quality of life of future generations. The question I pose to you is this; are we, at this profound and criticle moment in history, going to perpetuate the blind sins of the past because of short sighted self preservationizm and greed or are we going to create a revolution in the human condition for the benifit of all of man.

     The core principle of Bitcoin ideology is the decentralization of currency, and for what pupose? We all know the answer to this question. It is because we all know the evil that men drunk with power will do to his very own blood let alone what he would do to you. But what do you think it means if crypto-coin mining becomes just another resource that only rich corporations can afford to harvest? How different do you think that this situation will be from the way things are now, or the way things have always been? Once a viable crypto-currency is embedded into a culture it becomes no different than any other essential resource and is subject to the same jurisdictions. If crypto-mining is only available to an elite group of wealthy individuals, then it becomes subject to the concerns of the elite. History shows us that elitist tend to be unfair, greedy self preservationist who are susceptible to and often the very architects of political pressure. Ask yourself this question and answer yourself honestly. If you had invested years of your life mining a substantial amount of bitcoin wealth and suddenly you find yourself faced with the decision to either protect the principles behind Bitcoins Ideology and loosing all the wealth you had worked so long to acquire or forsaking the ideology of Bitcoin and keeping all your acquired wealth, minus some taxes and fees, knowing that you'll likely live well the rest of your life, what would YOU do? Again, history shows what most people would do, its a simple matter of self preservationizm. This is why decentralization is so critical.
     I think we all agree that we do not want the situation to get to that point, but that is the course it is presently taking and only together can we stop this decent of such a noble endeavor. So what is it that we can do? In many respects the solution is simple in concept, its the execution thats more challenging. The hardest element to overcome is at the core of the human instinct to survive, and that is the instinct of self preservation. This instinct is of course very strong and because human beings are intellectual creatures this instinct is often triggered when our ideas or sense of self are in intellectual danger even though our bodies or lifes may not be. This is the major cause of human irrational behavior. So for the sole sake of logic it stands to reason that if smaller and smaller groups continue to control larger and larger portions of a finite pool of resources then you either must exponentially increase the quantity of the reasources or you must equalize the method of gathering the resources to a broader group of people. Fortunately in this case the resource is is a fabrication of man.

     So with that being said, lets open this up for discussion...  I release it to the floor...


The bureaucratic mentality is the only constant in the universe.
-Dr. McCoy, Star Trek IV: The Voyage Home

I see you edited your original post and made some great revisions. Again, great read keep up the good work and post more!
12  Bitcoin / Development & Technical Discussion / Re: P2PoolWidget on: June 13, 2013, 02:40:10 PM
Cool looking forward to the update about to download now
13  Other / Off-topic / Re: Experiments for Bitcoin on: June 13, 2013, 02:38:24 PM
I like this idea good luck
14  Other / Off-topic / Re: Know any good free hosting? on: June 13, 2013, 02:37:09 PM
000Webhost does the trick for me
15  Other / Beginners & Help / Re: Time for me to start posting.. on: June 13, 2013, 02:36:03 PM
Welcome to the forums Smiley
16  Other / Beginners & Help / Re: trying to get bitcoins for fathers day gift on: June 13, 2013, 02:33:47 PM
You sir are a smart man, that is the most best fathers day gift ever
17  Other / Off-topic / Re: Steve Gibson Nails Prism and Some Light Reading on: June 13, 2013, 02:31:48 PM
I hate PRISM. With a passion.
18  Bitcoin / Bitcoin Discussion / Re: PSA: About 45% of exchanges opened since 2010 have subsequently closed on: June 13, 2013, 02:31:07 PM
Yes exchanges in the Bitcoin world are not stable.. we know.
19  Bitcoin / Bitcoin Technical Support / Re: Help a newb compile. on: June 13, 2013, 02:14:13 PM
go to command promp in the client then look up commands on google to fix it
20  Bitcoin / Bitcoin Technical Support / Re: Sending without generating a second receiving "change" address? on: June 13, 2013, 02:12:49 PM
Is this problem still persisting? Have you tried to make a new address?
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 »
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!