I submitted an order a few days ago and ever since, he no longer answers my emails. It is very disconcerting. I still have faith, it's just very odd that he answered most emails before but none after an order.
Holiday weekend perhaps? |
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In your experience, can you run 4x6990s in one box, can you power it and can you cool it without an electrical engineering degree?
Yes. Buy a powerful quality PSU. Seasonic. Use a case with 180mm fans, and lots of them, and good ones. Delta. Or no case at all, and fans positioned to feed cool air and suck hot air. |
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0% proportional fee for a few days, I like!!!!!  Gee, how many pools have had this for ages now? |
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What's facebook?  |
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But leaving your cpu running will theoretically allow you to find a block, and as such cash in almost $500, right? Odds aren't worse than playing any regular lottery?
Well, does your CPU run for free? |
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But what would stop someone from hiring a botnet of 30.000 PC's, install a shitload of modified clients and poison the network into uselessness with false transactions ?
Math. |
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When installing new hardware in "modified" cases I have repeatedly cut myself on sharp metal edges. Oh, and quite a few times I've touched spinning fans, which causes some damage as well.
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See
I bet someone controlling even 1% of capacity could, through the amplification of other miners joining him once they notice, cause hard/easy cycles where production in the easy cycle is more than twice desired production.
The fluctuations are occurring inside difficulty periods, not coinciding with difficulty changes. |
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Is there data available as to the rate of growth in bitcoin transactions, and percentage of those transactions that involve fees?
http://blockexplorer.com/ |
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there are more then 5 pools. Which is why I said MAJOR mining pools. You might be able to argue 6. Deepbit Slush BTCMine BTCGuild Eligius Bitcoinpool The rest are small enough that I'd bet there are solo miners with more hashing power. |
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i will give you that maybe most of use miners dont know how to go solo, but most of use have already switched to different pools, and i have multiply batch scrips so i can switch to a different pool at any time.
That's why I said a coordinated attack against the major mining pools. Meaning switching to another pool will be useless. How many major pools are there? 5? |
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Surely anyone with much power is smart enough to switch to individual mining automatically, no?
These are people who pay 3% for lack of variance and a payment button when there are lower and zero fee pools out there. I think you give too much credit. Today when Deepbit first went down, we had only two blocks in 55 minutes. 127555 2201f7d916... 2011-05-29 22:41:30 43 1472.65095723 21.143 127554 15fa32c760... 2011-05-29 22:13:38 37 877.09812426 23.145 127553 1de06a4a0a... 2011-05-29 21:46:22 47 2052.27689526 17.552 |
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I don't know, but I wish I did.
I hope some miners learn to have backup plans for when their pool goes down so the network can laugh at such an attack.
A coordinated attack against the major mining pools will leave most miners clueless.
Every pooled miner should be capable of solo mining at the proverbial flip of a switch. Unfortunately, I don't see that happening. Many don't really care about the health of the network, they care about a quick, easy buck. (Not realizing the quick easy buck might go away if the network is vulnerable to attacks.)
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Current transaction fees make up an irrelevant fraction each block, and the there is discussion of reducing the minimum fee in the client. I fail to see how transaction fees will be sufficient to sustain mining?
Look into your crystal ball and tell me how many transactions fees are included in the block after the first halving of the block reward. |
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What I'm saying is other people argue that it doesn't matter if the farmer makes less for his produce than it cost him to buy. As long as his money has the same value.
It does matter if he needs to borrow money to purchase the seeds.
So if he borrows 20 Bit coins to plant the seeds and makes 15 Bit coins for his harvest he still owes 20 Bit Coins plus interest, which is much more value now than it was when he borrowed the money.
Let me put this another way. If people argue that you can still give me a 30 year loan with compound interest at 5% interest, think about how much more punitive that is in a deflationary economy.
If I borrow 60,000 Bit Coins to buy a house, then I am paying back the loan for a house that is decreasing in price with a job that pays less money year after year.
If you need me to be clearer I'll make a chart for the 30 year loan showing the value.
Maybe people won't need to take as many loans when savings actually mean something. Maybe people won't buy houses that they can't use or afford. Maybe they will buy more efficient vehicles instead of having 3 brand new SUVs in every garage. Maybe the farmer will be able to afford seeds from his profits that he saved from last year. Maybe the economy won't work the same way when the money is real and credit isn't easy. Maybe goods and services will cost much less. Maybe people will learn to save when their savings might go up in value on its own. Maybe we won't have to pay as much in taxes to bail out banks and corporations that are too big to fail. Maybe people will learn fiscal responsibility. Maybe we wont see as many malinvestments. Maybe people will loan at zero interest just to improve their community. Maybe they will loan at zero interest and get a share of the project. Maybe people will have to convince lenders that their idea is worth more than the next guys idea and we will have fewer high quality projects instead of more low quality projects. Maybe you can create a block chain with properties you like and let it compete with the current block chain? |
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You're kidding but it's a serious question you're asking.
Although from slush's thread, it looks like slush just went down as well. Maybe you want to hit the "Generate Coins" button, just in case! Nope, the mining pool is mostly up, though the website is mostly down. I see. The last two posts in his thread say mining is down as well. I just assumed they were correct. |
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You're kidding but it's a serious question you're asking.
Although from slush's thread, it looks like slush just went down as well. Maybe you want to hit the "Generate Coins" button, just in case! |
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Transaction fees will replace the block reward. Thanks for playing.
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