P4man, nice job creating our first PPLNS block!  Yay. 50 BTC. Ka-tching My lone 5850 just paid for itself and then some. Oh, no wait  Oh well, 0.5BTC aint too bad for a day of mining. And you can see the CDF for each block we created - it's an indication of how lucky or unlucky each block was. Thanks for that, that was sorely missing. |
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And paying out of pocket for people to use it seems...unprofitable.
Its obviously an investment in startup pool. If he can achieve a pool that only 10% as big as beepbit, that ought to pay itself back handsomely through the fees. But you wont get many miners joining a new and small pool with large uncertainty, if you dont give incentives. A nice miner only gets you so far. |
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I would argue though that the cost of mining has a psychological impact on the value of BTC.
Not even that. The cost of mining is not a factor, its a direct result of the price of bitcoins. Assuming miners act rationally, the total hashrate will level out at a point where mining is marginally cost efficient. Cost being determined by electricity and costs hardware per MH, and revenue the value those 300 bitcoins /hr are worth. There is no effect the other way round. |
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w00t! I found my first block :p Feature request: play some appropriate jingle when youve minted a block |
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He has consistently been first in Rasmussen and Reuters phone polls as well. Link? http://www.rasmussenreports.com/public_content/politics/elections/election_2012/election_2012_presidential_election/election_2012_republican_presidential_primary
The latest Rasmussen Reports national telephone survey of Likely GOP Primary voters shows Perry with 28% support and Romney capturing 24%. Before Perry entered his first debate, the Texan held an eleven point advantage over Romney, 29% to 18%.
Trailing far behind the frontrunners are former House Speaker Newt Gingrich at nine percent (9%), Minnesota Congresswoman Michele Bachmann at eight percent (8%), Georgia businessman Herman Cain with seven percent (7%) support and Texas Congressman Ron Paul who earns six percent (6%). Rick Santorum, former U.S. senator from Pennsylvania, draws the vote from three percent (3%) while ex-Utah Governor Jon Huntsman draws support from two percent (2%). Michigan Congressman Thad McCotter comes in with just one percent (1%) of the vote. |
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It seems to me that the best way to handle this would be to submit your code to one or more trusted members here along with a NDA to prevent them from using any part of it anywhere else if you're worried about that hearing some of other programers in the forum give it a clean bill of health would stifle any yelling about malicious code.
Except it wouldnt, as no one could guarantee the code he submits is the same as the app we run. Moreover, since its javawebstart, it autoupdates, so what is safe today, could be different tomorrow. The only way to be 100% sure is by reviewing and compiling the source code yourself, assuming you have the ability to audit the code. That said, Ive been googling a bit, and from what I can tell its basically impossible to spread malware through java webstart. Or at least as hard as spreading malicious code through a website exploiting whatever zero day browser vulnerability, and I havent seen anyone make the claim its dangerous to visit the website from any other pool operator as it could be used to spread malware. |
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To judge safety, consider incentive. There is like 30? or so people running bitminter? Whats to be gained from running malware on 30 machines, compared to the effort involved setting up the pool and miner app and the potential benefits from a big pool. It would make no sense whatsoever for DrHaribo to risk his business and everything he invested in it, by spreading malware. In so far it would even be possible to make effective malware with Java webstart.
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Why didn't he spend all that time and money to improve existing open source architechture and performance, choosing instead to reinvent the wheel? Because he sees his miner app as a competitive advantage over other pools. Pools are businesses. FWIW, I think bitminter is awesome. ITs both very fast and easy to use. I would prefer it was open, but no one forces it upon you. If you dont like it, or dont trust it, dont use it. You can use any opensource client you want, either with bitminter or any other pool. |
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Wow Jonathan, while there is no defending the OP, Id find your post even harder to defend.  |
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I think an apology would be in order for falsely accusing bitcoinica.
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I would guess bitcoin value today is 99% speculation and 1% trade. There are a few sites that do actual trade, the alpaca socks, bitbrew and a few others, but if you compare that with the valuation of all bitcoins of $35M that has to be (no offense guys) peanuts.
For now at least, the real question is perhaps how much trade is happening on Silk Road. I have no clue, but its likely more substantial but probably still no where near enough to explain the current valuation.
BTW, the cost of mining has nothing to do with it. THe cost is variable and adjusts to the price of bitcoin.
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If you want to roll the dice a bit, to have a chance of winning more than in a big pool, why not use a small pool? In a small pool you can still get lucky or unlucky if it takes weeks to find a block, but at least you will find something, which is anything but sure if you are mining solo. Im mining for bitminter: https://bitminter.com/With 25-30GH is a pretty small pool. On a lucky day they get 1 block a day, on a bad week.. it takes weeks. ANyway, I hope you are not paying for electricity, or none of these machines would make sense, except for number 3. |
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Which is not very different than without tor, except that the exit nodes are tor users, rather than companies/ISPs or possibly hackers listening in. If you dont use HTTPS or other encryption, consider everything you browse and send public, with or without tor. All tor does is anonymise.
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Yep, now it shows as unconfirmed.
Is it possible the % have changed though? Maybe I clicked the wrong block earlier, but I thought I saw I had under 1%. Now Im at 0.76%.
I probably just clicked the previous block tho.
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Clicking the block shows my share, but I see nothing as unconfirmed payment, nor did I receive anything yet.
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If its for bitcoin mining, Id sit and wait. There is a good chance the next generation radeons will suck at mining compared to current and previous ones. Everything I read points to AMD moving in to the same direction nVidia took with fermi, with fewer, but more complex units. Thats good for a lot of things, but not for mining.
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I know how the OP feels. Ive been buying oil futures on NYMEX and my gas tank is still empty and now all my money is gone. Scammers!
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