Bitcoin MONOPOLY - Help Fight Against it (Read, Bump & Share With Friend's)

[arlene05973]

Firstly, i will like to use this opportunity to thank the great inventor of bitcoin and this great community for their generous support & assistance.

I'm someone who hate restriction, This is one of the reason why i'm on the internet or into the online. And, i believe most of people are here b/c they are fed-up of working for some big-headed boss who think they got the whole world in their hand's.

Well, back to bitcoin discussion. pls, take a moment to check out the link's to the thread the below:

☞ Shutting my mine down today pls, take time to read most of these comment.

☞Three months living in a multi-petahash BTC mine in Kangding, Sichuan...

☞Thinking Of Going Into Bitcoin Mining


I actually stated the last thread. i posted the thread inorder to get opinion and support from other people who have been into mining.

I must admit that i got discourage by the response from one of the  snr. member. Below is the comment

"My advice is to abandon the idea of going into mining, unless you know what you are doing. Bitcoin trading is already exciting enough. It is extremely difficult to compete with the Chinese for the block reward and the reward is going to half in no time. Think thrice!"


The truth they say, may HURT sometime's but, it remain's the truth.

Pls,i have nothing against the chineese company indicated in one of the thread (i just use them to cite example of what is happening & will continue if, we do nothing) neither do i have anything against the person who posted this thread ☞ "Three months living in a multi-petahash BTC mine in Kangding, Sichuan" you'll notice my positive comment below the thread. I like people who work hard for their pay. I ONLY hate when someone tries to abused the system.

But, i do have problem with MONOPOLY (people restricting other's in same profession,offering/selling same services,product's to QUIT/PACK/STOP existing because they want to MAKE ALL THE PROFIT.

I live in part of europe where the level of racism even in working enviroment are high but, through the help of the web i'm still feeding and taking care of my family uptil date without begging anybody on the street.

Monopoly is a form of Abuse to profession/business..ecc - this my definition of MONOPOLY.

The inventor/creator of bitcoins would have monopolized bitcoins IF HE/SHE wanted to, but, he choose to give equal opportunity to you & me. And, this is the reason why all of us (including those who want to monolized it) are here in bitcoins forum. To trade,learn,invest,interact,mine...ecc by respecting and giving equal opportunity to other's who are yet know or come into the bitcoins niche.

Now, i have one question for everyone reading this thread & i'll appreciate if, everyone voiceout his/her opinion in regard's to this issue.

☞Would you like bitcoins to be mined by some group of people?


☞Right now, the administrator's of this forum could be charging you & me 0,08333 BTC or more per month just to trade or sell on this forum butm they've choosen not to follow that path.

the other link which i have posted above is about a miner who have decided to quit mining since, doing so,it's no longer profitable to him. why, because other people have bombarded the whole stuff leaving no room for small miner's

The other day, i stumbled across a similar thread about a guy requesting the public opinion on whether or not to stay with the classic or core pool. these are all sign of people trying to monolize bitcoins. I will find and post the link here.

Finally, if, we all are uncomfortable with this whole issue (monopoly,politic's) i will suggest what we as one bitcoins family have to do to prevent such art if, not putting an end to it completely.

Thanks you for your time. I know this is such a long thread!
Arlene

[arlene05973]

 

[PsursV]

how can you say that is Dollar has not monopoly on the world flat currency. why you not trying to start a campaign against DOLLAR I think it is just a false news. we want bitcoin to grow up so that it may become easy to do shopping with one currency through out the world.

[arlene05973]

how can you say that is Dollar has not monopoly on the world flat currency. why you not trying to start a campaign against DOLLAR I think it is just a false news. we want bitcoin to grow up so that it may become easy to do shopping with one currency through out the world.

@PsursV, i think bitcoin stand the chance of growing more rapidly without some folk pushing other's out of biz!

Don't you think so?

I think it's too earlier for them to start playing political game on the bit-mining niche


Regard's
Arlene

[Kprawn]

I always say, If you come with a problem, be willing to suggest a solution. So, how do you suggest, we as a community compete with a country with super low electricity cost and a clear advantage in

the manufacturing of Asic chips? The only possible scenario would be to approach Silicon Valley and to ask them to start with the development and research into Asic chips for Bitcoin mining and to fund

a huge manufacturing plant, where these chips would be manufactured, outside of China.  ...You are talking about a huge capital investment here... 

[naidray]

You are fighting against a certain problem but I don't see any suggested solutions to it, as what Kprawn stated in his reply. I know the purpose of this thread is for the good, but sure, let's say this problem was solved, what then? There should be multiple follow ups provided.

[mwizard]

The inventor/creator of bitcoins would have monopolized bitcoins IF HE/SHE wanted to, but, he choose to give equal opportunity to you & me.

I suspect you may misunderstand Bitcoin.  The monopoly the Bitcoin founders were attacking was the banks and similar 3rd party money managers.  

There was never any intention that mining would not centralize.  In fact it was expected.

From Satoshi - July 29 2010. "The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate."
https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

Bitcoin was designed as a way of doing financial transactions without needing trusted third parties. That is what was meant by decentralization.

The name of the initial white paper was "Bitcoin: A Peer-to-Peer Electronic Cash System"

Bitcoin is not about decentralized mining (or nodes). It is about the ability to do financial transactions without a mutually trusted party.  

[OROBTC]

I always say, If you come with a problem, be willing to suggest a solution. So, how do you suggest, we as a community compete with a country with super low electricity cost and a clear advantage in

the manufacturing of Asic chips? The only possible scenario would be to approach Silicon Valley and to ask them to start with the development and research into Asic chips for Bitcoin mining and to fund

a huge manufacturing plant, where these chips would be manufactured, outside of China.  ...You are talking about a huge capital investment here... 

Kprawn

I have long wondered why Samsung or some other big chip maker never went after making ASIC chips for mining BTC.  Yes, I do understand that BTC ASIC chips are a niche product, but there would seem to be a profitable opportunity for a Samsung or a niche US chip maker.  A serious chip manufacturer would likely blow BitFury, AntMiner, etc. right out of the water, at least that's what it seems like to me.

Cheap electricity and .gov cronyism in China would be separate issues re mining inside/outside of China.

[mwizard]

[
I have long wondered why Samsung or some other big chip maker never went after making ASIC chips for mining BTC.  Yes, I do understand that BTC ASIC chips are a niche product, but there would seem to be a profitable opportunity for a Samsung or a niche US chip maker.  A serious chip manufacturer would likely blow BitFury, AntMiner, etc. right out of the water, at least that's what it seems like to me.

Cheap electricity and .gov cronyism in China would be separate issues re mining inside/outside of China.

Are you proposing Samsung should set up its own giant mining farms? 

Do you really think they would sell the chips cheaply to the general public.

[ziiip]

[
I have long wondered why Samsung or some other big chip maker never went after making ASIC chips for mining BTC.  Yes, I do understand that BTC ASIC chips are a niche product, but there would seem to be a profitable opportunity for a Samsung or a niche US chip maker.  A serious chip manufacturer would likely blow BitFury, AntMiner, etc. right out of the water, at least that's what it seems like to me.

Cheap electricity and .gov cronyism in China would be separate issues re mining inside/outside of China.

Are you proposing Samsung should set up its own giant mining farms? 

Do you really think they would sell the chips cheaply to the general public.

Who do you mean by general public? The Chinese general public or everyone else?

[arlene05973]

The inventor/creator of bitcoins would have monopolized bitcoins IF HE/SHE wanted to, but, he choose to give equal opportunity to you & me.

I suspect you may misunderstand Bitcoin.  The monopoly the Bitcoin founders were attacking was the banks and similar 3rd party money managers.  

There was never any intention that mining would not centralize.  In fact it was expected.

From Satoshi - July 29 2010. "The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate."
https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

Bitcoin was designed as a way of doing financial transactions without needing trusted third parties. That is what was meant by decentralization.

The name of the initial white paper was "Bitcoin: A Peer-to-Peer Electronic Cash System"

Bitcoin is not about decentralized mining (or nodes). It is about the ability to do financial transactions without a mutually trusted party.  

@mwizard, thanks for that elaboration

[arlene05973]

I always say, If you come with a problem, be willing to suggest a solution. So, how do you suggest, we as a community compete with a country with super low electricity cost and a clear advantage in

the manufacturing of Asic chips? The only possible scenario would be to approach Silicon Valley and to ask them to start with the development and research into Asic chips for Bitcoin mining and to fund

a huge manufacturing plant, where these chips would be manufactured, outside of China.  ...You are talking about a huge capital investment here... 

"...he manufacturing of Asic chips? The only possible scenario would be to approach Silicon Valley and to ask them to start with the development and research into Asic chips for Bitcoin mining and to fund.."

@Kprawn, i believe most of the BIG company are also excited about the emergement of this new crypto-currency. Most of them may be willing to fund bitcoin related project if, they find any reputable team/group's who are into mining and need funding to expand such project.

Regard's
Arlene

[arlene05973]