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5301  Bitcoin / Bitcoin Discussion / Re: Is bitcoin 2 coming out next month? on: July 29, 2013, 06:12:26 AM
01 = 1
10 = 2
11 = 3

If 01 + 10 = 11 = 3,
Then why doesn't 01 + 11 = 12 = 4?

Are you joking?  It is hard to tell.
5302  Bitcoin / Mining speculation / Re: Paying to Reduce Mining Diffuclty? on: July 29, 2013, 06:05:20 AM
Yeah difficulty doesn't work that way.  It is hard to understand what you are trying to accomplish but when you just start making up new meanings for words like "difficulty" it is hard to take is seriously.

If difficulty is cut in half without an equal reduction in hashpower, it will be twice as easy to find a block and thus in the long run blocks will be found twice as fast.  If in any interval twice as many blocks are found then the average time between blocks has to be reduced in half.
5303  Bitcoin / Mining speculation / Re: Paying to Reduce Mining Diffuclty? on: July 29, 2013, 04:44:31 AM
Difficulty is what keeps the time between blocks at 10 minutes per block for given hashrate.  Right now if Bitcoin network had the same hashrate but half the difficulty the time between blocks would be 5 minutes not 10.


For a given hashrate you can't halve the difficulty and have the time between blocks remain that same.  To think that shows a complete lack of understand of how bitcoin mining works.

Difficulty is merely an artificial value to match the frequency that hashes are found to the desired timeframe between when blocks are found.
5304  Bitcoin / Mining speculation / Re: Paying to Reduce Mining Diffuclty? on: July 29, 2013, 04:33:59 AM
This thread doesn't make sense. There are too many misconceptions and illogical math at work.

This. Not sure if the OP failed elementary school math or was just drunk.

Bitcoin @ full difficulty = block worth 25 BTC every 10 minutes.  144 blocks per day.   25*144= 3,600 BTC of inflation a day.
Bitcoin @ 50% difficulty = block worth 12.50 BTC every 5 minutes.  288 blocks per day.  12.50 * 288 = 3,600 BTC of inflation a day.
5305  Bitcoin / Bitcoin Discussion / Re: Is bitcoin 2 coming out next month? on: July 29, 2013, 03:29:32 AM
Is bitcoin 2 coming out next month?

No.

Everybody knows eleven is my favorite number, so if there was going to be a major release of bitcoin it would be "Bitcoin 11".  But it ain't gonna happen.


Only 11 kinds of people in the world, those who can count in binary and those who can't  Cheesy

So what's the third type of people?  (you said there were 11)

11=2 in binary

Really?  Not in any binary I know.
What is 1, 2, 3 in binary?
1 =
2 =
3 =
5306  Alternate cryptocurrencies / Altcoin Discussion / Re: Miner's Official Coin LAUNCH - NUGGETS (NUGs) on: July 29, 2013, 03:26:18 AM
You need to know why things are done. Just like my toothpaste example, you need to know what toothpaste is and what it is for if you're going to found a toothpaste company, and the same is with creating a coin.

That's easy, toothpaste is a ponzi scheme that is going to explode after the toothpaste ETF and everyone is going to want their own tooth paste brand, so we need to get into the market now.

Also make sure the toothpaste expires in 2-3 years because everyone knows the government is going to take over toothpaste anyways but it doesn't mean you can't get in at the ground floor of the toothpaste ponzi and dump your worthless tubes on suckers before the government shuts it all down.
5307  Alternate cryptocurrencies / Altcoin Discussion / Re: CPU friendly Altcoin in development on: July 29, 2013, 12:31:03 AM
Why not use Scrypt as intended.  Scrypt with default variables has beyond horrible performance on GPUs.  Litecoin developers modified it to make it roughly 128x less memory resistant (using only 128KB total).

Generally rolling your own crypto ends badly.
5308  Other / Beginners & Help / Re: Underaged gambling with bitcoin? on: July 29, 2013, 12:08:17 AM
Just wondering, would underaged gambling with bitcoin be illegal? It would be the same concept as using regular play chips, except using bitcoins, and both are not considered "legal" tender. Would this fly?

Poker chips used in casino's aren't legal tender BTW so "legal tender" has no real bearing, I don't think a single gambling statute anywhere would be so restrictive to define "gambling" as only involving legal tender.  As for legality there is no universal global all people covered law, so it depends on what law and where.  Most gambling related statutes are wording to cover "for value".  Bitcoin has value, gambling with Bitcoin would likely be covered.  

Look at it another way if casinos are prohibited in your town do you think if you opened a casino which only exchanged chips for gold would be accepted (just happens to be next door to a gold dealer who both buys and sells bullion).
5309  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [QRK] Quark | Super secure hashing | CPU mining on: July 28, 2013, 10:30:30 PM
It is underpriced in that it generally costs more to make QRK than it sells for, but I think it's a PnD that's already on it's death throes due to lack of support from merchants or any use.

How much does it cost a botnet to produce 1 QRK?  Remember stolen computing power and stolen electricity = 0.0000.  CPU coin = botnet coin.  Whatever you can produce with a single CPU the average botnet can produce 10,000x as much at near 0 cost.  It never had a future.
You do realize it's possible to do the same with GPU's?
Utilize the GPU of every PC that is part of the botnet?
I mean a company already did it with bitcoin within their software (too lazy to google now)..

Agreed GPU raises the barrier slightly and botnet herders tend to go for the low hanging fruit.  The issue of GPU botnets will only get worse in the future.  Most low end systems now come with relatively (at least compared to prior northbridge based integrated video) powerful "on die" GPUs (GPU is part of CPU).  Both Intel and AMD latests on die GPU are OpenCL capable.  The threat isn't so much a botnet acquiring hundreds of high end systems as zombies but a botnet acquiring tens of thousands of openCL capable "on die" GPU based systems.


While relatively low powered (50 KH/s compared to a high end GPU being 400 KH/s or more) a botnet will make up for it with thousands or tens of thousands of units.  It will take some time but it is inevitable.
5310  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [QRK] Quark | Super secure hashing | CPU mining on: July 28, 2013, 10:19:34 PM
It is underpriced in that it generally costs more to make QRK than it sells for, but I think it's a PnD that's already on it's death throes due to lack of support from merchants or any use.

How much does it cost a botnet to produce 1 QRK?  Remember stolen computing power and stolen electricity = 0.0000.  CPU coin = botnet coin.  Whatever you can produce with a single CPU the average botnet can produce 10,000x as much at near 0 cost.  It never had a future.
5311  Other / Beginners & Help / Re: Newbie Trying to Figure out Longevity of Mining on: July 28, 2013, 08:21:45 PM
Butterfly labs demo on Youtube shows 5.5 GHash/s @ 32 watts for the Jalapeno.  USBminer Sapphire is  330 Mhash/s @ 2.6 watts.  Those two devices are based on the same transistor process so power comsumption should be very close.  That being said, you forgot to consider the price which is the other variable that matters and in this case matters the most.  Even if Asicminer lowers the price to .7 BTC it is still 3 times the price of the Jalapeno per Mhash.  By all means though, feel free to buy up all the USB miners you like - drive up my share value.

The price on USB miners is 0.6 BTC (0.45 BTC in bulk).  Still a USB miner may never pay for its cost of capital but I would point out that IF true then a NEW Jalapeno purchased today is a far far far worse ROI%.  I mean if you buy a USB miner today you can probably start mining next week.  If you buy a Jalapeno today what is the fastest you would predict you would receive it (even being naively optimistic)?  3 months? 6 months? More?  What do you think difficulty will be in 3 months? or 6 months?

Using price per MH/s is incomplete. What matters is price per (MH/s) * (difficulty).  If two units are shipping at the same time then difficulty becomes a constant however if one unit can start mining at difficulty X and the other can't start until difficulty 2x then for all intents and purposes its effective price (when normalized by starting difficulty) is double.  The reality is the vast majority of BFL gear will never break even no matter when it was bought.  Many people bought Jalapenos over a year ago at a cost of 30 BTC or more.  Even if they were the first one delivered they will NEVER recover 30 BTC by mining.
5312  Bitcoin / Hardware / Re: Why are people cheering that ASICMINER will bring 800-1000TH online this year? on: July 28, 2013, 07:50:47 AM
If you own 20% of the network, and you double capacity while no one else does anything, you only you go from 20% to 33.3%, not 40%. So the cost relative to the share goes up as you try to increase your share.

This.  The cost is relatively linear.  Electricity is perfectly linear, chip costs are nearly linear because as total production volume increases the % that is the fixed NRE declines.

So hypothetical numbers. 
ASICMiner has 40TH/s.  Network is 200 TH/s. 
Cost = X Network Share = 40/200 = 20% Revenue Share = 20%.
Revenue Share per unit of cost (X) = 20%/1 = 20%

ASICMiner adds 40 TH/s.
ASICMiner has 80TH/s.  Network is 240 TH/s.
Cost = 2X Network Share = 80/240 = 33% Revenue Share = 33%.
Revenue Share per unit of cost (x) = 33%/2 = 16%

ASICMiner adds another 80 TH/s.
ASICMiner has 160TH/s.  Network is 320 TH/s.
Cost = 4X Network Share = 160/320 = 50% Revenue Share = 50%.
Revenue Share per unit of cost (x) = 50%/4 = 12%

Each doubling of capacity produces less revenue for the same amount of cost. 

5313  Bitcoin / Hardware / Re: Why are people cheering that ASICMINER will bring 800-1000TH online this year? on: July 28, 2013, 07:41:18 AM
Man this is why I love all the PoW+PoS coins, thank you Sunny King for PPC and Balthazar for NVC.

Why.  By any account ASICMiner shareholders have a huge stake of coins (unless they sold them). 
5314  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [QRK] Quark | Super secure hashing | CPU mining on: July 28, 2013, 07:38:27 AM
Holy hell, is it even worth mining anymore?

Sure if you have a botnet.  100% profit and no annoying super fast GPU, FPGA, or ASICs to drive down profits.
5315  Bitcoin / Development & Technical Discussion / Re: Bitcoin Payment Messages on: July 28, 2013, 07:33:39 AM
No proof of purchase allows you to lie in the books, though, right? Especially if you're a customer, you can say something was, for example, a gift. You could always destroy the reciept, too, I suppose...

The company could destroy the receipt as well.  It is called fake books and it predates Bitcoin by couple thousand years.
5316  Bitcoin / Development & Technical Discussion / Re: Bitcoin Payment Messages on: July 28, 2013, 06:35:44 AM
Ah, okay, thanks. But, doesn't that make Bitcoin a little more regulation-friendly? Inability to issue receipts is one thing that hobbles taxation.

Where does this nonsense come from.  The burden of maintaining books is on the comapny.  Saying "sorry we can't issue receipts so we don't pay taxes" is stupid.  Sorry it just makes no fucking sense.  The IRS will say ok then since you can't prove your books, or show your revenue or expenses we are simply seizing EVERYTHING.  Companies maintain books so they can show the LIMIT of their revenue and profit and thus limit the amount of taxes they pay.

Of course even without a payment protocol companies are required to maintain books which can be audited.  It doesn't matter if you take payments in cash, gold bullion, pounds of marijuana, or Bitcoins.  The lack of a payment protocol doesn't make it impossible to issue a receipt, it makes it impossible to know that (as an example) when you are "sending coins to MtGox" that you are ACTUALLY sending coins to MtGox and not some hacker who infected your browser and changed the address you see on the screen with his address.

Simple version: The store chain 7-11 does tens of BILLIONS of dollars worth of sales in cash.  Do you think a lack of cryptographically secured payments suddenly makes their entire operation tax free.  Sorry Mr. IRS agent we erased our cash books so we can't show how much in sales or profits we had and thus are opting to not pay taxes.  Failure to keep accurate books means the IRS gets to estimate what revenue, profit, and taxes are owed and trust me they will be very "generous" in their estimates.

I mean does that even make logical sense to you?
5317  Other / Off-topic / Re: would anyone buy a seamless spherical polypropylene house? on: July 28, 2013, 03:26:50 AM
The majority of the cost in constructing a residence isn't the exterior walls it is the "everything else".  Water, electrical, windows, HVAC, interior walls/doors, closets, cabinets, fixtures, etc.  You would really need some deep pockets, enough to figure out how to integrate everything, and build some prototypes.  What is the insulation rating of 3" or 6" poly?  If it isn't inferior to conventional insulation this means the additional cost of having an sphere inside a sphere. 

If the $35K sphere ends up costing $500K to make it habitable because everything inside needs to be custom made then it really isn't worth it.  Right?  It is an interesting idea but I lot would depend on integration.
5318  Alternate cryptocurrencies / Altcoin Discussion / Re: Mandatory Update to Nuggets (NUGs) 1.0.1! Get your VGB - Vlad Golden Blocks on: July 28, 2013, 01:17:29 AM
There's been 3 exact clones of NUGGETS so far

No there hasn't.  There has been one and only one.  Since you are mentally challenged people played pranks on your by linking to threads of coins launched months (and in one case a year) before NUG saying "look another one copied you".

You do realize that posts have timestamsp and you can verify yourself that the coins which "copied you" launched before your copycat scamcoin. 

BTW at current Bid the valuation of all NUGs in circulation is ~1 BTC.   99% of that is the premine and thus not earned by miners.  Quite the "miner's coin".
5319  Alternate cryptocurrencies / Altcoin Discussion / Re: Mandatory Update to Nuggets (NUGs) 1.0.1! Get your VGB - Vlad Golden Blocks on: July 27, 2013, 08:03:45 PM
Not many replies, I'm not sure everyone understands that without this update you can't get the super blocks, the Golden Blocks for the NUGGETS coin.

So don't wait until the last second guys, update now.  

Thanks and good luck!

How many replies are you expecting?  The entire network has 5-7 nodes.

Nuggets is essentially Spots with a massive premine and lack of real developer support.  BTW spots is next to worthless and that puts NUG less than worthless.  

What were you expecting?  Tens of thousands of people downloading and posting? 
Quote
Oh yeah lets jump on the broken soon to be fixed more worthless than the already worthless copycat scamcoin.  Obviously THAT is the future.  More merchants, more services, more users that is for suckers what we really need is yet another altcoin which does absolutely nothing new (and was broken and premined).
5320  Bitcoin / Hardware / Re: Best Way to Power an ASIC / Free Power ? on: July 27, 2013, 06:32:01 PM
If your in the US try one of the kits from Harbor Freight. Its like $150 for a 45 watt kit. Add some deep cycle golf cart batteries and a inverter. Im going to try it out this weekend. I have a BFL jally and a netbook that draws a little over 38 watts.

You don't need an inverter.  Both laptop and BFL run on DC power.  If they don't run @ 12V (battery output) you will need a DC-DC powersupply to convert the 12V to what the laptop and BFL expect.
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