To a libertarian, prostitution is not criminal and should not be treated as such. It's a business agreement between consenting adults. There is no victim. It can be unethical, however, as I don't know a single libertarian that would wish such a profession upon their own daughters. But it is better than starvation or incarceration.
This doesn't follow. Few people want their children to grow up to be toilet cleaners either, but there is nothing unethical about janitorial work. I said it "can" be unethical. Depends on the culture. Well sure, but that doesn't follow from your statement that few libertarians would want their daughters to do it. Though I'm not really sure that it could be "unethical" to a libertarian. As you say it is a business agreement between consenting adults. How can that be unethical under libertarian ethics? |
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To a libertarian, prostitution is not criminal and should not be treated as such. It's a business agreement between consenting adults. There is no victim. It can be unethical, however, as I don't know a single libertarian that would wish such a profession upon their own daughters. But it is better than starvation or incarceration.
This doesn't follow. Few people want their children to grow up to be toilet cleaners either, but there is nothing unethical about janitorial work. |
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no hidden costs or bullshit
Does this mean you are distributing the transaction fees? |
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So why add unfruitful complication by having proportional pools exists in the first place?
One reason is that people like simple ("fair") pricing schemes even they aren't economically efficient. This is an empirical result that applies to Homo Sapiens as opposed to Homo Economicus. Put two pools side by side, one with each payout method and I'm sure a significant number of people will strongly prefer proportional even if they aren't going to pool hop and understand that they will make less as a result. Think of it as a fee. |
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"Without some method to enforce dispersal..."
the method of dispersal is clear - and always has been: there's no point in being a Bitcoin millionaire - or, indeed, a millionaire in any currency at all - if you don't spend it for your own pleasure or on those projects which interest you.
of course, once you're spending your Bitcoin, you are... ummm... what's the word i'm looking for?
oh yes! you're dispersing them.
...aren't you?
I'm talking about dispersal of mining (i.e. control of the block chain) not the coins themselves. The intent is that Bitcoin be a distributed P2P system, without central points of control. If some proprietary special sauce (FPGA, ASIC, magic Terminator brain chips) puts mining in the hands of a few, then you don't have a distributed P2P system, you have an online bank. I'm referring more to the transaction processing component than the free BTC rewards. Probably even worse if this happens in secret. |
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The barcode security-feature you talk about could actually be the address owning the amount of bitcoin this note is being backed up with.
Just write it on a napkin. |
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Take the time series and compute the correlation between D(t+x) and P(t) as a function of x. Graph the results.
Anybody going to do this? If not, please send me the time series or a script to extract it from the block chain and I will post the results. |
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I estimate to be unprofitable for my single 6950 system in 40 days at a 4.6M difficulty rating (assuming no change in value of bitcoin) with a net income of $558, by the last 10 days though profit is only $3 though, so I'll quit at day 30.
I like how you are able to predict both difficulty and price so accurately. |
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Pareto principle should apply IMO. This means that 80% of hashing power will be concentrated in hands of 20% of [bitcoin mining] population. It is probably the case already.
Interesting point and probably a weakness in the design. Without some method to enforce dispersal, it won't happen. How serious this turns out to be I guess we may find out. |
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I run 4x5830 Sapphires with no dummy load on the video connectors and it works fine..... Ubuntu 11.04....
The dummy plug is only needed on Windows, not Linux. |
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No.
300MH/s = .67BTC/day
= $5.70/day
= $171/month
And anyone with that kind of MH/s is probably using no more than 250w of electricity, so 180kwh/month, or about $18 more in electricity per month. Well, if you get decent rates on electricity, anyway. $72/month at most though.
Mining is far from being unprofitable. When difficulty hits 4M, then we'll talk about it being unprofitable for a good portion of hobbyist miners.
Math is hard. |
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I guess so. I didn't put myself there -- someone else did, though it's fine with me.
Anyway, I buy and sell at various times.
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Had to increase the price a bit since I was selling out at 450. Stlll have namecoin available at 425 per BTC.
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When mining suddenly becomes insanely profitable, like it did then, it takes time for new hardware to hit the network (whether it be from newcomers seeing the amount of money to be made, or previous miners seeing the amount of money to be made). You don't just see the price go nuts, then turn on the extra 10 gpus you had sitting around doing nothing. You have to buy, wait for for shipping, assemble, configure, etc. And if you are a new miner, that takes even longer (because you have to post threads asking why your shit doesn't work). Then you have the people that hear from their friends that they are making "money for nothing" and they join in as well. Even then, it still takes some time for difficulty to catch up because of how the difficulty-calculating algorithm works. all the "mining, does it worth it?" threads
LOL |
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I was talking about the last few weeks, not last year. Difficulty quadripled, while price has stayed in the 6-9$ range. Yes, but that was after a huge increase in price without a huge increase in difficulty. Look at the graphs I linked. There is nothing unusual about the relationship between difficulty and price right now. If the current difficulty increase keeps up, then in a month, single card users won't make a large enough quantity of btc for it to be worth bothering. And by the end of summer, electricity costs won't be covered either.
Only if price doesn't increase. Historically, the relationship between price and difficulty has tended to stay in a fairly narrow range, which suggests either price will increase along with difficulty or difficulty won't increase that much. |
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It works to improve your miner's efficiency. It's not cheating: as with all improvements to efficiency, those who don't do it end up with less.
I tend to agree as long as the pool doesn't have a rule against it. |
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