Reading the readme is a good beginning  |
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would a union of miners be able to stabilize the price? How? New coins are mined at a known rate, no matter what. Also more than half of all the existing bitcoins have already been mined. |
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Let's speak about CPU mining |
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How do you know this massive hashing effort isn't a scheme intended to trick miners into creating the biggest code-busting network in history and weaponize it? All along we thing we're working on a digital currency?
Because everything is open source. You can check and compile the code before running anything. You know EXACTLY what is running on your computer! You can even write your own miner if you wish. |
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Pffft, i constantly run BOINC on my pc, for years. All four cores at 100%, always. Temperature? 65-70°, no problems at all.
The bitcoin-qt client should create no problems at all! Not even on a laptop
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Because moving from 1 to 2 is like from 100 to 200, a 100% increase.
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The program is working exactly how it should. It is downloading blocks and verifying them to make sure they correctly relate to the blockchain and are not fake/with errors/whatelse. Otherwise you would risk to download random data.
It is NOT intensive. If that software create so many problems to your computer, then the computer have problems. Serious problems.
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To me it is nonsense. He did not found that "foundation", plain and simple. So he is not a founder. Like i am not a founder. Or maybe the other founders know something we don't know? Maybe satoshi is really a founder and we don't know?
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If your pc reach 100°C just to verify the blockchain then something is VERY VERY VERY wrong
Don't blame the software for your epic fail computer
As for why it use the processor: it verify each block it get
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I heard someone is making ASICs to mine Rhodium  |
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I just have a question for those that think this will play out like in 2011, with an eventual decline to pre-bubble levels.
Do you think this will still happen if some of the things being worked on right now come through? I'm mostly referring to the projects that will make bitcoins much easier to buy.
These include the ATMs, Coinlab, Coinsetter, and several other exchanges.
Coinlab and the first ATM are coming out next week, and there's plenty of other projects being worked on. Some of these fundamental improvements seem too important to support a decline back to $30. They would also bring back media coverage and increase the user base.
Bearish scenario to $30 (let's entertain this): 1. Price crashes to $30 2. Media starts saying "SEE WE TOLD YOU IT WAS A BUBBLE" 3. Most start buying like crazy (buy ASK side is super thin) because they realize shit I get a second chance to ride the BTC train! CHOO CHOO! 4. Back to $150 in 48 hours lol 5. Profits ** This is what all the so called "bears" are masterbating about on this forum.  +1 this Back in 2011 the sentiment was a bit "well maybe bitcoin is really a fad and now price will just drop to 0 and no one will use it, after all you can't use it for a lot of things..." wich is why it slowly dropped from 30 to 15 to 10 to 5 to 2. But today??? After bitcoin went from 2 to 266 instead of dying? With Bitpay reporting millions of $ of transactions each month? Now people are looking to buy cheap bitcoins! |
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Yeah, if your computer is infected then NOTHING you do on that computer is safe. NOTHING.
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Wow, it is using the bitcoin: protocol
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The profitability doesn't change. The variability is reduced, so the income in a pool is more stable than solo mining  |
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Well, it would be a hard fork, so it would need everyone to update the client
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Yes, the chain will grow. There are some plans on how to prune it, for example there is no need to keep every transaction, just the last one for every address is enough. If i transfer bitcoins from A to B and them from B to C, no need to keep the first one.
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A pool just reduce variability. As you noticed, by solo mining it takes tons of time to find a block but you keep all the reward, in a pool the reward is divided but the pool finds more blocks. In the long term the reward is the same.
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I agree with Dunster, this "foundation" is just a private thing, it is not bitcoin. Satoshi a founder? Did he sign? Or the "foundation" members happily added him? So now i can make the GABI FOUNDATION and have as founder satoshi as well?  Yes. And you can have Donald Duck as your "spiritual leader" if you like. Now imagine if they add me as a founder member. Without my consent. This clearly would not be acceptable because i am not a founder and i never signed to be one. |
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A lot of people involved are awesome, no doubt about that. Gavin is doing a wonderful job for example. But some things are weird. Matonis is one of the best representants of bitcoin, and now he is not suitable?
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Lol? Now the "foundation" is an allmighty entity? As far as i know it is only a company, and there are tons of them related to bitcoin  |
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