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2101  Bitcoin / Pools / Re: A guide for mining efficiently on P2Pool, includes FUD repellent and FAQ on: June 24, 2013, 07:58:31 AM
I'm sorry I didn't do the digging to figure it out for you.  It appears it is raising the share difficulty that saves your efficiency.  I just figured you were the expert and could figure it out easier.  Sorry for wasting your time.  I clearly keyed in on an incorrect statement, which caused you to dismiss everything I had to say.

Sorry if I look a bit harsh, but I don't spend much time on bitcointalk right now: I have a lot of work currently and I'm slowly recovering from a broken back at the same time so if I even suspect I won't find useful information I don't dig to save time.
The meds I take may not help either: they are known to have several side effects on the mood and short-temper is one (I may be predisposed for this one...).

Raising share difficulty may not be the solution: as I wrote in the previous post the published results match a configuration with standard share difficulty.

I'm sorry to hear that.  I truly wish you have a speedy recovery.  Thank you for updating the guide to be less discouraging for BFL owners.  P2Pool is experiencing very long block times and if BFL hardware can potentially help with that we should certainly admit it is complicated, but not actively discourage them from trying.
2102  Bitcoin / Pools / Re: [700GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: June 24, 2013, 02:38:05 AM
Bitcoin network
* Increase SHARE_PERIOD (average time between shares) from 10 seconds to 30 seconds, in order to make it more fair for high-latency miners (read: ASICs)

Will this increase the sharechain from 1 day to 3 days?

I was planning on keeping it the same for now. The only disadvantage a long sharechain has is making P2Pool take a long time to start up and download shares, along with increased memory usage.

I'm rather happy with all the changes, except this one.  Going from 10 seconds/share to 30 seconds/share, but without also increasing the sharechain length, means that there will be much fewer paid shares per found block.

24 hours at 10 seconds each = 8640 shares.  At 30 seconds each = only 2880 shares.

I have a rather slow node (only one Eurupter, it does 320 MH/s), so I have to be pretty lucky to squeeze in my shares during the 24 hour window of opportunity, otherwise they expire unpaid.  When the block was found recently, my node was pretty far down on the list.  Under these new rules, I might not be on the list at all.

That takes away one of the big reasons to do shared pool mining: consistent and steady payouts over time, instead of having to play the lottery for a rare big payout.

Please reconsider?

Is there a problem now with the payout being spread too thin?  I didn't think there was.  If that is a problem, then there would be reason to reduce the shares per block.  Otherwise, since you're already doing a hard fork, now would also be a great time to also stretch the sharechain to 3 days, instead of 1 day, which would keep the number of paid shares per block the same.

Josh


If you want to stay with p2pool, but desire lower variance perhaps you can consider one of the p2pool pooling options available in this thread: https://bitcointalk.org/index.php?topic=234841.0

The first option is a ruby based proxy which logs all pseudoshares and then redirects all shares to the same p2pool address.  As a miner all you have to do is change your pool address.  The other option is a python patch for p2pool that logs all pseudoshares.  You can then run the node with a 100% fee and split up the payments based on the logs.  Source code is available for both, but I'm not sure if there is a public pool for the patch option yet.  I run a server with the ruby proxy solution, but I welcome you to start your own pool with either codebase.
2103  Economy / Economics / Re: I just dont understand what is going on . . . and a question on Chase seizure on: June 23, 2013, 07:11:53 AM
So people selling bitcoins on localbitcoins need to be registered as MSBs too?  I thought it was only exchanges themselves, but maybe volume is a factor.  I was thinking of selling on localbitcoins eventually, so I guess I'll have to look into these laws eventually.

I signed up for Coinbase myself and was reluctant to use them initially because the fees are relatively high compared to the exchanges, but it's so easy to use that I'm willing to put up with a 1% fee.  I was hoping to use bitstamp with their lower fees, but since I don't live in Europe the fees would actually be higher than Coinbase's fees overall since I'd have to pay wire transfer fees or SnapSwap's fees if I went the Ripple route.

My personal theory on why the price is lower on non-MtGox exchanges is because the volume is so much less.  More volume tends to push up prices, so MtGox prices get pushed up and the other exchanges prices tend to stay lower.

It depends.  If you are selling because you want to sell bitcoins and buy dollars you should be fine.  If you make it your business to buy and sell for people and take a fee you are a broker and must register.

I've had nothing but good experiences with Coinbase, but obviously you need to make your own assessment of the risks of any business you hold money with.
2104  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: June 23, 2013, 07:03:51 AM
ASICMINER is a SCAM and is ILLEGAL. The issuer has not registered his investment with the SEC or other authorizes. HE IS BREAKING THE LAW.
Since when do businesses in China have to register with the SEC?
2105  Economy / Speculation / Re: 512-qubit Quantum Computer on: June 23, 2013, 05:49:01 AM
"It grabs answers from another dimension."

I think that is as good an explanation as any. But I'm no a physicist.
What works for me is thinking of a quantum computer as an analogue computer with infinite signal/noise ratio.

Can you give some simple examples of algorithms for quantum computers?  What kinds of questions can I ask this magic ball?

Look like this magic ball can be able to answer question  "Here is public key. What is PRIVATE one ?"
Here's a very informative TEDtalk on quantum computing.
http://www.youtube.com/watch?v=cugu4iW4W54&feature=youtube_gdata_player
And this:
http://www.youtube.com/watch?v=Kk6LhMcVmwA&feature=youtube_gdata_player
And this:
http://www.youtube.com/watch?v=8bLXHvH9s1A&feature=youtube_gdata_player
Quantum encryption will replace all encryption eventually.
Bitcoin is less vulnerable than anything else using SHA256.

Thanks for the first link, seems they are using existing  silicon manufacturing process to make quantum computer chips, and it is already quite mature. We might see these chips appear in 1-2 years

Except that annoying background energy that requires near absolute zero operating temperatures.
2106  Bitcoin / Pools / Re: pool.yrral.net P2Pool backed mining pool ALPHA on: June 23, 2013, 05:21:33 AM
You're welcome. Smiley One last thing—I haven't received anything on the 1yrraL address yet (the blockchain only shows a single .01 BTC transaction that I sent to myself for testing purposes), just the .12807 mBTC on 1Q68UdKBYgBVy7h4gAAXcipaoBPeoJZrXQ. Was this supposed to have been sent out already, or is it scheduled for the next payout cycle?

Next cycle.... unfortunately p2pool hasn't found a block yet Sad.  Terrible luck.  You can verify here: http://p2pool.info/
2107  Economy / Securities / Re: ASICMINER Speculation Thread on: June 22, 2013, 11:19:21 PM
What you are missing is the marginal production costs.  I would guess that now that they are masked out, the chips cost $10 a piece and the USB boards with heatsink (for example) cost another $10.  Current price is 2BTC.  There is a huge decrease in price that can be made and still be profitable.  As competitors come online only one thing will matter: who can source their chips and boards the fastest.

that's where having the facilities and experience of producing 300 TH rapidly actually counts for something.

Being located next to the production facilities doesn't hurt either.
2108  Economy / Speculation / Re: Bitcoin Prices Follow Dollar with 0.89 Correlation on: June 22, 2013, 11:16:43 PM

One can clearly see that the USD is has been going down down down.


FTFY

I wouldn't overlook the recent moves that are occurring simultaneously in all major markets.

when everything measured in something moves unisono, maybe it's the something that actually moves.

Right.  Everything priced in fiat has been falling, thus deflation.  Yes, we have had quite some inflation in the recent past, but I wouldn't discount the potential tops forming.
2109  Economy / Speculation / Re: Bitcoin Prices Follow Dollar with 0.89 Correlation on: June 22, 2013, 10:52:58 PM

One can clearly see that the USD is has been going down down down.


FTFY

I wouldn't overlook the recent moves that are occurring simultaneously in all major markets.
2110  Economy / Securities / Re: ASICMINER Speculation Thread on: June 22, 2013, 10:45:12 PM
It's my opinion that a lot of investors simply don't understand how mining works. If they did, then they would understand that AM hardware and shares are vastly overpriced.

Just like a lot of people paying silly money for mining bonds have found out, AM investors will come to the same realisation that share prices are currently way overpriced.

LISTEN AND LISTEN CAREFULLY. The only reason why AM is able to charge such outrageous prices is because they've had no competition. By the end of the year, there will be plenty of competition. Here's a quick comparison:

AM Block Erupter Blade
10 Gh/s
50 BTC = 5,000 USD @ 100 USD/BTC
2 Mh/s per USD

KNC Jupiter
350 Gh/s
7,000 USD @ 100 USD/BTC
50 Mh/s per USD

It should be blatantly obvious to anyone with half a brain that there's going to be a lot less income from hardware sales due to competition. That same competition will also decrease AM's share of the network hash rate.

AM share holders are going to get hit by a good dose of reality in the coming months. Perhaps then they will stop listening to idiots trying to flog them overpriced stuff and do the maths themselves.

What you are missing is the marginal production costs.  I would guess that now that they are masked out, the chips cost $10 a piece and the USB boards with heatsink (for example) cost another $10.  Current price is 2BTC.  There is a huge decrease in price that can be made and still be profitable.  As competitors come online only one thing will matter: who can source their chips and boards the fastest.
2111  Economy / Speculation / Re: Yet another analyst :) on: June 22, 2013, 10:18:58 PM
Oh, I fully expect the mother of all crashes in real-estate to happen soon.
aye putting bonds and mortages on the sky level  and removing any form of state borrow-welfare

this have to big way to end bad
1) politicians invent a new type of enemy, terror and terrorism is getting old to keep Joe's in control
2) Joe's go bananas start to riot and elect some kind of communist+nazi+hippie politician for price controls and all the measures that destroy the economy

cybercrime
2112  Economy / Speculation / Re: 512-qubit Quantum Computer on: June 22, 2013, 10:05:41 PM
Can I ask it 1 + 2?
2113  Bitcoin / Pools / Re: A guide for mining efficiently on P2Pool, includes FUD repellent and FAQ on: June 22, 2013, 09:50:53 PM
BFL: if you have a BFL Single, an early FPGA MiniRig (cgminer has a parameter for later ones to fix them, check its documentation) or a BFL SC (ASIC) don't waste their hashrate on P2Pool, they have huge latencies and can't perform well on P2Pool. Put them on a traditional pool.

Are you sure, or are you just going off the FUD on these forums?  Clearly the FPGA products have an issue, but these guys claim the ASICs blow through an entire nonce range in a few ms:
https://forums.butterflylabs.com/jalapeno-single-sc-support/3367-reducing-20%25-hash-rate-penalty-using-bfl-hardware-p2pool.html#post42224

It would be a pity if the p2pool guide was turning away major hashpower unnecessarily.  In fact, looking above the linked post, there is the exact quote from above used to justify not participating in p2pool.

ckolivas and kano confirmed this. The instruction supposed to be implemented in the communication protocol by BFL to interrupt work doesn't work and BFL didn't answer when asked if/when it will be fixed.

I didn't read the link but a Jalapeno is supposed to have 2 chips for ~5GH/s a whole nonce range is 4GH (nonce is a 32 bit field), do the math...

Well, in the link we have an example of a Jalapeno in the wild running on a p2pool instance with better 100% efficiency.  But thanks for ignoring it.

Don't post inaccurate information and I won't ignore it. You reference a post quoting an assertion that is clearly bullshit: "these guys claim the ASICs blow through an entire nonce range in a few ms". Why do you still expect me to waste my time with a post like this when I clearly explained it was impossible 2 posts earlier?

Now a newbie user (seems to be the same) claimed in the P2Pool thread that he got 106% efficiency after enough shares that it shouldn't be a fluke so I'll update my guide to reflect that. But I certainly won't write that BFL Asics are working properly, only that they might: between a newbie report I don't know at all and ckolivas' report there's clearly a difference in trust.
This would change if for example ckolivas confirmed that his device is working properly and he made a mistake in his earlier tests, there's a new firmware for BFL ASICs solving early problems or there are some other trusted user reporting good efficiency.
Currently I have conflicting reports with the most trusted user claiming it doesn't work properly with p2pool and a newbie I don't know claiming otherwise, like I said in my earlier post... do the math!

If I were in your shoes, I'll look for an explanation for why ckolivas' ASIC didn't work like it should or find trusted members of the forum to verify the newbie's claim. I'm only collecting information here, if there isn't enough information I can't do much.

I'm sorry I didn't do the digging to figure it out for you.  It appears it is raising the share difficulty that saves your efficiency.  I just figured you were the expert and could figure it out easier.  Sorry for wasting your time.  I clearly keyed in on an incorrect statement, which caused you to dismiss everything I had to say.
2114  Economy / Speculation / Re: 512-qubit Quantum Computer on: June 22, 2013, 09:45:14 PM
"It grabs answers from another dimension."

I think that is as good an explanation as any. But I'm no a physicist.
What works for me is thinking of a quantum computer as an analogue computer with infinite signal/noise ratio.

Can you give some simple examples of algorithms for quantum computers?  What kinds of questions can I ask this magic ball?
2115  Bitcoin / Pools / Re: [700GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: June 22, 2013, 09:25:15 PM
EDIT: On BFL's forums, some users are reporting > 100% efficiency with 5.5 GH/s miners. I thought reports here were that they don't work?
https://forums.butterflylabs.com/jalapeno-single-sc-support/3367-reducing-20%25-hash-rate-penalty-using-bfl-hardware-p2pool.html#post42224

Hi I'm that user on forums.butterflylabs.com talking about my jalepeno which works fine on p2pool, my current efficiency is 105%.  I'm not sure why the p2pool guide claims ASICs can't work on p2pool, it's working fine for me.  Once I get my 60GH singles in I'll be trying them there too so we'll see if they hold up as well.

It's odd, that's for sure.  You have 105% efficiency, but you also have a 20% DOA rate (which is horribly bad).  Not sure which number to believe...

Isn't 20% DOA pretty average for p2pool?

4.8% DOA with ASICMiner USB

Edit: To be fair, I'm also running a p2pool backed mining pool[1], so that's probably why my DOA's are higher.
1. https://bitcointalk.org/index.php?topic=234841.0
2116  Economy / Economics / Re: I just dont understand what is going on . . . and a question on Chase seizure on: June 22, 2013, 08:09:55 AM
Hi,

I bank with Chase. I asked them specifically and the answer I received was that they could not comment on why the alleged accounts were closed or frozen but that my account was not in danger of being closed if all I was doing was transfering money to and from a legal exchange, regardless of what type of commodoties that exchange dealt with.

My suspicion is that the reddit thread is a load of balderdash, that they either were doing something illegal (such as acting as an exchange without the proper paperwork), laundering money, or something else that triggered the accounts to be closed and/or frozen.

reddit is a neat place but it frequently is full of half-truths so take reports there with a lot of salt. Sometimes truth is stretched, sometimes outright lies are told.
I appreciate the reply. I don't know you so I dont know what your transaction volume is like. But the reddit caught my eye because I dont get to see too many people who do large BTC volume. I'm not saying I'm the biggest out there, I'm not, but I'm probably not the average Chase customer with 1 or 2 BTC exchange deposits every once in a while. Literally all my deposits are from exchanges and I average about 5-8 deposits every day. I'm sure the reddit people were similar or (more likely) higher than that.

If you are a US citizen and you are not operating under a registered money services provider, you are breaking the law and will have your account closed if someone ever decides to look into your transactions.

Take it easy there, Bernanke . . .

1 - Nowhere did I say that I was not a registered MSB. You are making a ton of assumptions there.

2 - The law only requires registration after 180 days - I have not operated that long. I am in the process of establishing my LLC and will have all FinCen paperwork in place before my 180 days is up.

3 - Even legitimate businesses that ARE registered as MSBs are still getting their accounts seized & shut down.

In conclusion, you don't know what you're talking about . . .

I didn't make assumptions, I added conditions to my statement.... see how it starts with IF.  I just wanted you to be aware since you were asking if your account could potentially be closed.  In conclusion, you are an ass.
2117  Economy / Economics / Re: I just dont understand what is going on . . . and a question on Chase seizure on: June 22, 2013, 07:15:46 AM
Hi,

I bank with Chase. I asked them specifically and the answer I received was that they could not comment on why the alleged accounts were closed or frozen but that my account was not in danger of being closed if all I was doing was transfering money to and from a legal exchange, regardless of what type of commodoties that exchange dealt with.

My suspicion is that the reddit thread is a load of balderdash, that they either were doing something illegal (such as acting as an exchange without the proper paperwork), laundering money, or something else that triggered the accounts to be closed and/or frozen.

reddit is a neat place but it frequently is full of half-truths so take reports there with a lot of salt. Sometimes truth is stretched, sometimes outright lies are told.
I appreciate the reply. I don't know you so I dont know what your transaction volume is like. But the reddit caught my eye because I dont get to see too many people who do large BTC volume. I'm not saying I'm the biggest out there, I'm not, but I'm probably not the average Chase customer with 1 or 2 BTC exchange deposits every once in a while. Literally all my deposits are from exchanges and I average about 5-8 deposits every day. I'm sure the reddit people were similar or (more likely) higher than that.

If you are a US citizen and you are not operating under a registered money services provider, you are breaking the law and will have your account closed if someone ever decides to look into your transactions.
2118  Economy / Service Discussion / Re: bitfloor issues? on: June 22, 2013, 07:04:14 AM
He was free to file bankruptcy, as any person or company can when their liabilities exceed their obligations.

You do know what happens when a Limited Liability Corporation that has no money at all files for bankruptcy, right?

I certainly do.

I expect that the domain name, trademarks and software would have sold in liquidation for more than was recovered by waiting and hoping Roman would turn out to be a responsible adult.  Someone competent could have stepped in and operated what was a promising contender to replace Mt.Gox.  They might even have offered to transform the bitcoin debt into equity in the new company.

Now, between the damage to goodwill that Roman has done to the trademark, and Fincen's position on regulation, the company is probably worthless.  That is the problem with allowing an incompetent to continue operating a company; they actually reduce the value of the company over time instead of increasing it.

All you need is 3 creditors and a lawyer: http://bankruptcy.cooley.com/2012/05/articles/business-bankruptcy-issues/forced-into-bankruptcy-the-involuntary-bankruptcy-process/

Go for it.
2119  Economy / Economics / Re: The end is near on: June 22, 2013, 06:48:21 AM
Yeap what calender are you using?  If according to Mayan, we were gone in May

Just because the long count resets to 0 doesn't mean time ends.
2120  Economy / Economics / Re: The end is near on: June 22, 2013, 06:44:10 AM
Like who?  Mitt Romney, John McCain, or maybe you mean Al Gore?  Or was George Bush the right answer in that one and the US managed to get one right?

Ron Paul, Gary Johnson, Michael Badnarik, Harry Browne....

Agreed, but although one of them got my vote last election (I'll let you guess which one) they didn't have a shot in hell of winning.  90% of people probably went to the polls as said "who the fuck are these guys?".  Unfortunately, in America if you aren't Democrat or Republican you are a fringe nut job and the media will paint you as such at every opportunity.
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