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Author Topic: bitcoin will change the hashing algo and render all the BFL shit useless!! HAHA  (Read 8466 times)
hamdi
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August 21, 2012, 05:16:07 PM
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new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.

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enmaku
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August 21, 2012, 05:17:51 PM
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new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.

Care to cite a source for your FUD?
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August 21, 2012, 05:18:03 PM
 #3

new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.

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August 21, 2012, 05:19:49 PM
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"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi


the hashing algo is sure not part of the "core design".

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August 21, 2012, 05:20:12 PM
 #5

new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.

gavin mentioned if someone will come out with a ASIC mining solution for bitcoin it will be a sign for him that bitcoin reached a level of stability...

nice try, anyway!  Roll Eyes

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Jutarul
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August 21, 2012, 05:21:19 PM
 #6

new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.

This has been discussed before. the hashing procedure is not going anywhere. And even if there's a major change. Miner's can take a loss. And I doubt it will change more then 1-2 within the next 20 years.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
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August 21, 2012, 05:21:47 PM
 #7

Quote
"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi


the hashing algo is sure not part of the "core design".

For all practical purposes it is.
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August 21, 2012, 05:22:29 PM
 #8

Haha and the only ones who can adapt to the new algorithm will be those still holding GPUs.
And everyone who dumped their GPUs to recoup their investment and buy ASICs will be crying to buy the GPUs back.

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August 21, 2012, 05:23:58 PM
 #9

Haha and the only ones who can adapt to the new algorithm will be those still holding GPUs.
And everyone who dumped their GPUs to recoup their investment and buy ASICs will be crying to buy the GPUs back.

 Grin

That's why a wise man always holds different types of hardware as a mix. Keeps him flexible.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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August 21, 2012, 05:42:31 PM
 #10

All I hear is blah blah blah from both sides without any sort of validity.......or was I watching CNN again?

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August 21, 2012, 05:43:34 PM
 #11

All I hear is blah blah blah from both sides without any sort of validity.......or was I watching CNN again?

Nah, the cat stepped on the controller.. it was Fox News.

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Shadow383
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August 21, 2012, 09:48:22 PM
 #12

It's basically impossible to change the hashing algorithm once ASICs arrive, even if it's necessary... How on earth are you going to get half the network to switch if the vast majority of the hashing power can't?
hamdi
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August 22, 2012, 01:00:55 AM
 #13

sanity wants it to be that way.

we don´t need single crazy nodes with high hash power.

we need many nodes with expedient hashing power to keep the network alive and integer.

it´s what litecoin assessed to, bitcoin will be upright.

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August 22, 2012, 04:12:16 AM
 #14

sanity wants it to be that way.

we don´t need single crazy nodes with high hash power.

we need many nodes with expedient hashing power to keep the network alive and integer.

it´s what litecoin assessed to, bitcoin will be upright.

Big farms (>1 MW) are unlikely in short term because you'd eventually have to run a power plant to feed it. The practical limit for most miners is somwhere between 10 kW and 100 kW, which with an ASIC efficiency of 100MH/W corresponds to about 1-10TH.
But there will be a lot of those 1TH miners... If things progress they way they do now I expect PetaHash/s around 2015.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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August 22, 2012, 08:28:53 AM
 #15

sanity wants it to be that way.

we don´t need single crazy nodes with high hash power.

we need many nodes with expedient hashing power to keep the network alive and integer.

it´s what litecoin assessed to, bitcoin will be upright.




There WILL be many nodes,instead of 1-2gh (most current GPU setups,like mine) they will be 5-20gh (like mine will be with 4 jallies).

From this (current GPU setups):



To this (more purpose built & streamlined) :



                            Grin Cool Grin Cool

"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole."  -Raylan Givens
Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be
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idev
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August 22, 2012, 11:37:19 AM
 #16

sanity wants it to be that way.

we don´t need single crazy nodes with high hash power.

we need many nodes with expedient hashing power to keep the network alive and integer.

it´s what litecoin assessed to, bitcoin will be upright.




There WILL be many nodes,instead of 1-2gh (most current GPU setups,like mine) they will be 5-20gh (like mine will be with 4 jallies).

From this (current GPU setups):



To this (more purpose built & streamlined) :



                            Grin Cool Grin Cool

Cheesy
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August 22, 2012, 12:17:44 PM
 #17

new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.

it seems to me you're on CRACK!!
lame.duck
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August 23, 2012, 07:04:18 AM
 #18

Big farms (>1 MW) are unlikely in short term because you'd eventually have to run a power plant to feed it. The practical limit for most miners is somwhere between 10 kW and 100 kW, which with an ASIC efficiency of 100MH/W corresponds to about 1-10TH.

http://wiredre.com/data-center-for-sale/

I am sure there will other datacenters and industrial sites that could be used too.
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August 23, 2012, 08:22:22 AM
 #19

new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.
lets see how many asic miners change to an algo that will make their hardware redundant




"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole."  -Raylan Givens
Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be
"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan Smiley
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October 23, 2012, 07:34:30 AM
 #20

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"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi


the hashing algo is sure not part of the "core design".
im sry but this is total bullshit, hasing algo is a huge part of the core!

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