molecular
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Activity: 2772
Merit: 1019
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June 10, 2014, 09:11:40 AM |
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No block for 30 minutes.  Could it be we're starting to reach hashrate saturation? |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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seljo
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Activity: 1178
Merit: 1014
Hodling since 2011.®
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June 10, 2014, 09:12:50 AM |
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Yeap thx! EDIT: also moving some from cold wallet |
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madmat
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Activity: 966
Merit: 1000
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June 10, 2014, 09:17:03 AM |
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No block for 30 minutes. This happens quite often, just normal. |
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dreamspark
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June 10, 2014, 09:19:08 AM |
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Cmon guys its 10 mins average, people don't start getting worried when we find 3-4 in 20 mins.
Surprised to see Bitfinex spike a good 12-13 above Stamp. Volume is becoming a little anemic but we entered this consolidation bullish so I think we should leave it that way too.
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sickpig
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Activity: 1260
Merit: 1008
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June 10, 2014, 09:21:01 AM |
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No block for 30 minutes. Could it be we're starting to reach hashrate saturation? what does "hashrate saturation" mean? (serious question) |
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JayJuanGee
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Activity: 3710
Merit: 10220
Self-Custody is a right. Say no to"Non-custodial"
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June 10, 2014, 09:23:14 AM |
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My point is that ponzi scheme is NOT appropriate for either. The government and its money system is much more complicated than some simple operation to rob the money of the poor for the rich, even though those kinds of dynamics that you describe are going on in the government.. NONETHELESS governmental systems remain much more complicated and nuanced as compared to a ponzi scheme which is generally a smaller operation designed smoke and mirrors to deceive.... surely there is some deception that is going on within government systems, as you suggest.. but ponzi scheme is NOT the correct concept and to attempt to simplify the fit into such a narrow definition is to oversimplify the various purposes and services of government....
Don't get me wrong, I am all for reform, and I am all for removing some of the corrupting influences of government and the disruption that bitcoin will be providing to potentially put more power into the hands of the people.
At the same time, I would NOT be so deluded as to believe that the government is going to disappear in some variations of its current form in any time in the very near future... transitions of systems take time... and certainly, we will be witnessing some of bitcoin's effects on various governmental and monetary institutions in the coming years.
Yes, Fiat is NOT a Ponzi and Taxes are NOT theft, because it is the government who is engaged in these activities. The name of the action depends on who is doing the action, not on the content of the action - we've been through this before, haven't we?  Euphemisms are being used by our culture to obfuscate and conceal the graveness of many of societies conditions. And you've fallen for it. St. George Carlin will explain way better than meYes, I get the point that calling things or practices something other than what they are can be foolish.. and euphemism can be foolish, and yes there are a lot of foolish contradictions in this world in which we live and the way that various social and governmental systems are set up are also foolish. Nonetheless, we are NOT going to make a whole heck of a lot of progress in analyzing, understanding and/or fixing the ways of the world by calling the government and its agents and institutions either thieves or a product of a ponzi scheme. These systems are much more innuendoed than that. There are good people and well intentioned people carrying out a variety of governmental services, and there are also corrupt and corrupting practices and influences and behaviors within governmental institutions.. but the government has NOT been designed purposefully to engage in thievery nor as a ponzi scheme nor are the various governmental systems something that can be merely abandoned and start anew, believe it or NOT. Even though some people use the government and its various related institutions for variou kinds of selfish and thievery purposes, it was NOT designed for such (even though there are many flaws).... AND, yes, hopefully, some day soon good people can find various democracizing purposes for bitcoin to provide positive influences to correct some of these negative and self-serving aspects of government. |
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Erdogan
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Activity: 1512
Merit: 1005
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June 10, 2014, 09:24:53 AM |
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... because it is the government who is engaged in these activities. The name of the action depends on who is doing the action, not on the content of the action ...
I know, equality before the law, that was cancelled some time ago. |
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TooDumbForBitcoin
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Activity: 1638
Merit: 1001
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June 10, 2014, 09:28:27 AM |
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No block for 30 minutes. Ghash conducting withholding drills. No cause for alarm. |
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dreamspark
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June 10, 2014, 09:28:42 AM |
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No block for 30 minutes. Could it be we're starting to reach hashrate saturation? what does "hashrate saturation" mean? (serious question) I'd imagine he's talking about the hashrate getting to a level where its not profitable to mine. However people mine at a loss for a number of reasons so its almost impossible to relate to Bitcoin in this context. |
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sickpig
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Activity: 1260
Merit: 1008
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June 10, 2014, 09:37:18 AM |
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No block for 30 minutes. Could it be we're starting to reach hashrate saturation? what does "hashrate saturation" mean? (serious question) I'd imagine he's talking about the hashrate getting to a level where its not profitable to mine. However people mine at a loss for a number of reasons so its almost impossible to relate to Bitcoin in this context. got it. thanks. I was thinking something more complex/strange. |
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dreamspark
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June 10, 2014, 09:40:03 AM |
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got it. thanks.
I was thinking something more complex/strange.
I'd be interested to see if it is something else as I cant fathom how the hr can be saturated in a normal sense of the word, unless every hash of computing power from everywhere on earth is being used to mine |
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soullyG
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June 10, 2014, 09:50:35 AM |
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I love this bit from the article (emphasis mine): Now we have a small piece of pure, incorruptible mathematics enshrined in computer code that will allow people to solve the thorniest problems without reference to “the authorities”. |
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ChartBuddy
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 10, 2014, 10:01:07 AM |
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boumalo
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Activity: 1904
Merit: 1018
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June 10, 2014, 10:11:18 AM |
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No block for 30 minutes. 30min is commun! Check it |
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JorgeStolfi
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June 10, 2014, 10:26:54 AM |
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I love this bit from the article (emphasis mine): Now we have a small piece of pure, incorruptible mathematics enshrined in computer code that will allow people to solve the thorniest problems without reference to “the authorities”. Which is bullshit, unfortunately. There is no mathematical proof that the mining problem is hard, or that it is hard to get the private key of any given address. No one has found how to do either of those things efficiently yet, but a smart teenager may find one tomorrow. Or may have found it already. But bitcoiners need not worry, if that happens not only bitcoin, but all current e-commerce protocols will be compromised... |
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Cassius
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Activity: 1764
Merit: 1031
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June 10, 2014, 10:39:42 AM |
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I love this bit from the article (emphasis mine): Now we have a small piece of pure, incorruptible mathematics enshrined in computer code that will allow people to solve the thorniest problems without reference to “the authorities”. Which is bullshit, unfortunately. There is no mathematical proof that the mining problem is hard, or that it is hard to get the private key of any given address. No one has found how to do either of those things efficiently yet, but a smart teenager may find one tomorrow. Or may have found it already. But bitcoiners need not worry, if that happens not only bitcoin, but all current e-commerce protocols will be compromised... Oh for goodness' sake, Jorge. Do you have any understanding of the maths behind this, or how long it would take to implement a vulnerability in a useful way? Either you do, in which case this is pure and simple trolling. Or else you don't, which also raises plenty of questions. In either case I hope none of your students stumble across this thread. |
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bangersdad
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June 10, 2014, 10:40:03 AM |
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I love this bit from the article (emphasis mine): Now we have a small piece of pure, incorruptible mathematics enshrined in computer code that will allow people to solve the thorniest problems without reference to “the authorities”. Which is bullshit, unfortunately. There is no mathematical proof that the mining problem is hard, or that it is hard to get the private key of any given address. No one has found how to do either of those things efficiently yet, but a smart teenager may find one tomorrow. Or may have found it already. But bitcoiners need not worry, if that happens not only bitcoin, but all current e-commerce protocols will be compromised... i used to enjoy your posts Jorge, as although i do not agree with most you write - they were well written and gave a temperance to all the "to da moon" posts. but now you just seem desperate...making completely bizarre statements with no evidence to support your comments...now you seem just like any other fudster troll imo. |
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bangersdad
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June 10, 2014, 10:40:52 AM |
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I love this bit from the article (emphasis mine): Now we have a small piece of pure, incorruptible mathematics enshrined in computer code that will allow people to solve the thorniest problems without reference to “the authorities”. Which is bullshit, unfortunately. There is no mathematical proof that the mining problem is hard, or that it is hard to get the private key of any given address. No one has found how to do either of those things efficiently yet, but a smart teenager may find one tomorrow. Or may have found it already. But bitcoiners need not worry, if that happens not only bitcoin, but all current e-commerce protocols will be compromised... Oh for goodness' sake, Jorge. Do you have any understanding of the maths behind this, or how long it would take to implement a vulnerability in a useful way? Either you do, in which case this is pure and simple trolling. Or else you don't, which also raises plenty of questions. In either case I hope none of your students stumble across this thread. i think he has finally lost the plot  |
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