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1445
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Bitcoin / Mining / Re: BTC Guild vs Slush vs Deepbit thoughts?
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on: July 18, 2011, 09:08:44 PM
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All good pools (and that's why they're top 3)
In short term, whether you get more BTC from one pool than another is luck.
Commission wise, deepbit is most expensive one but it has the lowest stale rate (<1%), so that evens out the additional fees.
It's a matter of personal taste. I like deepbit, espeically the red status text if a miner is idle for more than the customized number of minutes (I don't like its delayed stats but I understand it's done to prevent pool hopping).
I really like how you can set the timeout threshold for your workers at DeepBit. At other pools, like MtRed for instance, you'd have to wait up to 5 minutes before you know whether a worker is offline or not. With DeepBit you can know that info in as little as 1 minute. |
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1446
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Bitcoin / Mining / Re: Collapse in mining interest could lead to the end of btc in an unexpected way
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on: July 18, 2011, 08:07:06 PM
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Difficulty adjustment is 100% based on difficulty duration, when it occurs/is calculated however is based on block count. Not sure if that's what you were thinking.
Err.. I guess I should have worded my last entry a little better, and I'm probably showing my lack of understanding how difficulty decreases work here. What I'm getting from this thread is that difficulty decreases don't happen until block 2016 is found, for a given difficulty period. What I was trying to say is that a difficulty decrease should take place if we reach the end of a difficulty period even if block 2016 hasn't been found. Or is that the way it works already? Please correct me if I'm wrong. |
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1449
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Bitcoin / Mining / Re: Collapse in mining interest could lead to the end of btc in an unexpected way
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on: July 18, 2011, 04:59:09 PM
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IMHO Bitcoin already has so much "velocity" that even if we lose 80% of our mining network (I'm not sure if you meant 80% of the people doing mining, or 80% of the total hashing power, but I'll assume the latter) we'll still break through to the next difficulty adjustment before everybody completely bails. Satoshi should have built in a difficulty adjustment based not only on block count, but also difficulty duration. Or maybe there is one already? I dunno.
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1451
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Bitcoin / Mining speculation / Re: If you're thinking buying mining hardware, read this first
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on: July 17, 2011, 09:35:31 PM
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... So then even when the difficulty is at retarded proportions, the productivity won't necessarily have to decrease?
When total network was 1GHash/sec a block took 10 minutes, same as now. The whole point of difficulty is to keep productivity the same. Were blocks worth more than 50 BTC back then? I remember reading in that one thread about the guy who bought two pizzas for 10,000 BTC that he was generating "a few thousand" bitcoins per day. |
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1453
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Bitcoin / Bitcoin Discussion / Re: The Multi-level Marketing scheme argument
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on: July 17, 2011, 06:53:38 AM
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I think that for all the faggoty adulation that Satoshi receives by his acolytes ("Satoshi is a genius." I've read more than once), Bitcoin is fundamentally flawed and it seems to me that someone so fucking clever should have come up with a way to base the block difficulty on some standard of economic activity and not the absolutely retarded metric of how many people are chomping at the bit for their own blocks.
I've already designed an alternative blockchain myself that addresses this, and many more examples of the massive stupidity inherent to the Bitcoin system, but I'm certainly not going to share it here, and it's unlikely it will ever be published by myself since I'm just a lowly web developer.
However, it's really rather telling that I was able to solve the economic problems of Bitcoin, and Satoshi wasn't. Of course, Satoshi never purported to be an economist. He's a cryptographer, and he solved a very interesting cryptographic problem. However, his proof-of-concept should never have become what is has, until there was a functioning economic underpinning to the creation, distribution, and long term strategy of the currency to begin with. I can actually agree with most of this, except for chaining block difficulty with economic activity alone. It would make more sense to base it off a hybrid of block generation velocity, economic activity, and remaining blocks yet to be found. IMHO anyway. |
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1454
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Bitcoin / Bitcoin Discussion / Re: The Multi-level Marketing scheme argument
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on: July 17, 2011, 06:43:57 AM
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My main premise is that the bitcoin speculation market is a bullshit three (at least) ring circus, and that bitcoin zealots are no better the retards who think they're going to become millionaires working from home selling fucking gumball machines or whatever the fuck else.
Wait, I thought your main premise was that the Bitcoin project is an MLM, or was that a lie? You keep switching your stories. Just what is your main premise? |
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1455
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Bitcoin / Bitcoin Discussion / Re: The Multi-level Marketing scheme argument
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on: July 17, 2011, 06:42:52 AM
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Thanks,
You're a dumbass who has nothing of value to say of their own. You waltz into a thread with your faux cleverness and try to appeal to your native audience and garner camaraderie though laughing at a perceived pariah. You use sheepish humor as a defense against an uncomfortable presentation against your chosen hobby/obsession.
But that's ok, because here, you're a special and unique flower, and we love you.
lol.. wait.. hahah holy $h1t. You're serious with this thread, aren't you? Wow. hahah wow... |
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1456
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Bitcoin / Bitcoin Discussion / Re: The Multi-level Marketing scheme argument
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on: July 17, 2011, 06:24:26 AM
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Not in the least.
It actually brings me joy to call you a fucking dumbass.
Please, post something else fucking stupid so I can berate you further.
Don't really need an argument on /. for this one, as it's obvious and should be apparent to anyone who's ever read: http://en.wikipedia.org/wiki/Multi-level_marketingFrom the wiki: "Criticism has focused on their similarity to illegal pyramid schemes, price-fixing of products (BITCOIN BOTS, "EARLY ADOPTERS," EXCHANGE OPERATORS MANIPULATING MARKET PRICE), high initial start-up costs, emphasis on recruitment of lower-tiered salespeople over actual sales (RAMPANT SPECULATION VS. REAL ECONOMY), encouraging if not requiring salespeople to purchase and use the company's products (BITCOIN "ECONOMY"), potential exploitation of personal relationships which are used as new sales and recruiting targets (DITTO), complex and sometimes exaggerated compensation schemes (DITTO), and cult-like techniques which some groups use to enhance their members' enthusiasm and devotion (NEED I SAY MORE)." AND: "Independent, unsalaried salespeople of multi-level marketing, referred to as distributors (or associates, independent business owners, dealers, franchise owners, sales consultants, consultants, independent agents, BITCOIN MINERS, BITCOIN EVANGELISTS, etc.), represent the company (BITCOIN P2P NETWORK) that produces the products or provides the services they sell (ONLINE TRANSACTION PROCESSING, COMMODITY SPECULATION). They are awarded a commission based upon the volume of product sold through their own sales efforts as well as that of their downline organization (USD ENTERING THE MARKETS). Independent distributors develop their organizations by either building an active customer base (BITCOIN EVANGELIZING), who buy direct from the company (BITCOIN EXCHANGE OPERATORS), or by recruiting a downline of independent distributors who also build a customer base (BITCOIN MINERS, BITCOIN MERCHANTS) thereby expanding the overall organization. Additionally, distributors can also earn a profit by retailing products they purchased from the company at wholesale price (EARLY ADOPTERS, BITCOIN MINERS)." |
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1459
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Bitcoin / Bitcoin Discussion / Re: The Multi-level Marketing scheme argument
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on: July 17, 2011, 05:26:26 AM
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Don't really need an argument on /. for this one, as it's obvious and should be apparent to anyone who's ever read: http://en.wikipedia.org/wiki/Multi-level_marketingFrom the wiki: "Criticism has focused on their similarity to illegal pyramid schemes, price-fixing of products (BITCOIN BOTS, "EARLY ADOPTERS," EXCHANGE OPERATORS MANIPULATING MARKET PRICE), high initial start-up costs, emphasis on recruitment of lower-tiered salespeople over actual sales (RAMPANT SPECULATION VS. REAL ECONOMY), encouraging if not requiring salespeople to purchase and use the company's products (BITCOIN "ECONOMY"), potential exploitation of personal relationships which are used as new sales and recruiting targets (DITTO), complex and sometimes exaggerated compensation schemes (DITTO), and cult-like techniques which some groups use to enhance their members' enthusiasm and devotion (NEED I SAY MORE)." AND: "Independent, unsalaried salespeople of multi-level marketing, referred to as distributors (or associates, independent business owners, dealers, franchise owners, sales consultants, consultants, independent agents, BITCOIN MINERS, BITCOIN EVANGELISTS, etc.), represent the company (BITCOIN P2P NETWORK) that produces the products or provides the services they sell (ONLINE TRANSACTION PROCESSING, COMMODITY SPECULATION). They are awarded a commission based upon the volume of product sold through their own sales efforts as well as that of their downline organization (USD ENTERING THE MARKETS). Independent distributors develop their organizations by either building an active customer base (BITCOIN EVANGELIZING), who buy direct from the company (BITCOIN EXCHANGE OPERATORS), or by recruiting a downline of independent distributors who also build a customer base (BITCOIN MINERS, BITCOIN MERCHANTS) thereby expanding the overall organization. Additionally, distributors can also earn a profit by retailing products they purchased from the company at wholesale price (EARLY ADOPTERS, BITCOIN MINERS)." I'm not sure I'm following you. The part you quoted is full of references to Bitcoin, but the link you provided has absolutely no mention of it. Or did you interject Bitcoin references into the original text to effect some kind of Weird Al Yankovic parody of the actual definition? It almost looks like you're trying to link the Bitcoin cryptocurrency to MLMs through a painful path of logic based on barely analogous points. Almost... |
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1460
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Bitcoin / Pools / Re: Mt.Red ~300GH/s+ Test Pool Please Ignore
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on: July 16, 2011, 10:14:01 PM
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Enhancement Request: BTC earned in the last 24 hrs. This is a really nice number to have available as it's a quick gauge to how lucky/unlucky the pool has been, once you know your expected BTC per day.
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