Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Voodah]

You guys are all right !

Recapping:

1. I'm chewing through organofcorti's stuff. Thanks for that.
2. Should've looked more deeply into BTCGuild's case. After your input I see today is probably more luck related, based on lack of orphans. I do agree however with the statement that "they never cheated" is not enough of an answer. That is conformism (equally bad as my not looking deep enough).
3. None of this absolves Ghash (or other past known cases).
4. Prevention really is better than cure.

If you guys had to rate the current network health, from 0 to 100, what would it be?

[bitcoinvest]

People! Wake up!!!

There are people here that will do everything to make you sell or make you quit the game....

Wake up!!!

The same could be said about the other side.

People! Wake up!!!

There are people here that will do everything to make you buy or make you join the game....

Wake up!!!

The best advice is to do your own due diligence and not let other people influence your decisions (unless what they are saying happens to be fact)!

And what is the other side? The Goverment? Aliens? illuminati??? xaxaxaxa come on.....

[spooderman]

You guys are all right !

Recapping:

1. I'm chewing through organofcorti's stuff. Thanks for that.
2. Should've looked more deeply into BTCGuild's case. After your input I see today is probably more luck related, based on lack of orphans. I do agree however with the statement that "they never cheated" is not enough of an answer. That is conformism (equally bad as my not looking deep enough).
3. None of this absolves Ghash (or other past known cases).
4. Prevention really is better than cure.

If you guys had to rate the current network health, from 0 to 100, what would it be?

0

[OldGeek]

People! Wake up!!!

That ought to get their attention.  lol

Seriously tho, I'm fairly certain that BTC Guild has security in place to prevent a ddos, or other nefarious actions, from shutting the pool down.  I'm equally certain that eleuthria would not want to specify what those precautions are.  A shut down of a major pool would be a serious problem.  Let's hope it doesn't happen.

What worries me more is the prospect of a multiplication of transactions hitting the blockchain in a short period of time.  I've heard that there are ongoing discussions of increasing the carrying capacity.  I fervently hope that improvements come about before some new social product comes on the scene where 750k kids try to buy .0025 BTC to purchase the new gadget.  750k x 2= 1.5 mil transactions.  Don't think we can handle that volume now.

[spooderman]

If you guys had to rate the current network health, from 0 to 100, what would it be?

There are two entities controlling over half the network hash rate.

I'd rate it pretty low.

In it's current state it's healthy until it's not.

I would feel much more comfortable if P2Pool was over half the global hash rate.

It just found a block I dunno how to point my miners at it....is it just the usual bfgminer -o p2poolblahblah -u btc address - p 1 ? Could you point me to a tutorial?

[bitcoinvest]

People! Wake up!!!

There are people here that will do everything to make you sell or make you quit the game....

Wake up!!!

The same could be said about the other side.

People! Wake up!!!

There are people here that will do everything to make you buy or make you join the game....

Wake up!!!

The best advice is to do your own due diligence and not let other people influence your decisions (unless what they are saying happens to be fact)!

And what is the other side? The Goverment? Aliens? illuminati??? xaxaxaxa come on.....

Huh? You don't know who are the opposite of those telling you to sell?

I think you missed the point.....

[bitcoinvest]

i think trolls have taken this area to influence as much as they can


Happy new year trolls !!! You have 364 days of work ahead!!!! Keep trolling

[Voodah]

what does organofcoti say about this? i highly doubt its 100% true

Voodah, it's just "luck". They're legit and never cheated.

I sincerely hope both of you guys are right..!

I don't really enjoy this at all, and know, calling this out can generate a certain level of hatred by some.

Still, I think we need more transparency.

I'd recommend reading up on things before coming to conclusions and pointing fingers.  What you posted is in no way unusual.  

Additionally, selfish mining doesn't apply to BTC Guild.  As posted above, Selfish Mining is GUARANTEED to noticeably increase the number or orphans on the network.  This not only makes it obvious its being done, but BTC Guild *pays for orphans* when its blocks are orphaned.  BTC Guild would actually become unprofitable if I ever attempted to do selfish mining because of that simple fact.

You are 100% right. I sincerely apologize to you and BTCGuild.

I would love your input, you do know what you're talking about; how healthy would you rate the network from 0 to 100?  

[ChartBuddy]

[macsga]

This is new even for this very thread. Trolling to another level. You people are hilarious... seriously? Do you remember the time that Btcguild was near 50%? There were people that accusing them for attacking the network, so they cut off all their "slow" connections in order to discourage people mining for them. They're in the game because they EARN from it. They don't have to go the other side to make the system fail. Nor it's clever.

Seriously what are you drinking?  

[OldGeek]

Meanwhile...  MtSux and BTC-e are declining while Stamp doesn't care.

[bitcoinvest]

This is new even for this very thread. Trolling to another level. You people are hilarious... seriously? Do you remember the time that Btcguild was near 50%? There were people that accusing them for attacking the network, so they cut off all their "slow" connections in order to discourage people mining for them. They're in the game because they EARN from it. They don't have to go the other side to make the system fail. Nor it's clever.

Seriously what are you drinking?  

+1

[seljo]

what does organofcoti say about this? i highly doubt its 100% true

Voodah, it's just "luck". They're legit and never cheated.

I sincerely hope both of you guys are right..!

I don't really enjoy this at all, and know, calling this out can generate a certain level of hatred by some.

Still, I think we need more transparency.

Trust me it's only luck I have few Ghs on BTC guild and my income today is 30% more than it is normal on this diff.

[mellowyellow]

Meanwhile we have some movement on Gox.

p2pool looks very interesting and something we should all be involved in to help safeguard the integrity of btc. When I first found out about btc I assumed mining was similar to the old SETI program you could run in the background on your computer to help find ET life out there. I was pretty disappointed when I realised it took investment to participate effectively. I really liked the idea of it being able to withstand any kind of onslaught due to the multitude of miners all around the world. I suppose Satoshi didn't anticipate large dominant mining pools, pity something can't be written in so individual, solo miners could contribute in some meaningful way.

PS. I've got nothing at all against the big mining pools, we need them. I just think we need small independent miners too.

[macsga]

what does organofcoti say about this? i highly doubt its 100% true

Voodah, it's just "luck". They're legit and never cheated.

I sincerely hope both of you guys are right..!

I don't really enjoy this at all, and know, calling this out can generate a certain level of hatred by some.

Still, I think we need more transparency.

Trust me it's only luck I have few Ghs on BTC guild and my income today is 30% more than it is normal on this diff.

+1
Same here.

[seljo]

what does organofcoti say about this? i highly doubt its 100% true

Voodah, it's just "luck". They're legit and never cheated.

I sincerely hope both of you guys are right..!

I don't really enjoy this at all, and know, calling this out can generate a certain level of hatred by some.

Still, I think we need more transparency.

Trust me it's only luck I have few Ghs on BTC guild and my income today is 30% more than it is normal on this diff.

+1
Same here.

Ah this brings back memories when we had same problem with deepbit. Anyone knows why deepbit stayed on getwork and is not upgrading it just stayed as it was years ago and still mining?

[spooderman]

If you guys had to rate the current network health, from 0 to 100, what would it be?

There are two entities controlling over half the network hash rate.

I'd rate it pretty low.

In it's current state it's healthy until it's not.

I would feel much more comfortable if P2Pool was over half the global hash rate.

It just found a block I dunno how to point my miners at it....is it just the usual bfgminer -o p2poolblahblah -u btc address - p 1 ? Could you point me to a tutorial?

No, it's not as simple as pointing your miners at it. You need to run a full node and you need to run the P2Pool software as well. As I said, it's quite a lot more work for the miner.

Yet, there are several advantages. No need to trust a pool operator with your mining income is a major one. No DDoS. Network health is also a major one.

Here is the P2Pool thread if you want to learn more:

https://bitcointalk.org/index.php?topic=18313.0

There are details about how to set it up in the first post. I think my guide is probably out dated.

Thanks very much. I'm gonna switch to p2p.

[macsga]

Meanwhile we have some movement on Gox.

p2pool looks very interesting and something we should all be involved in to help safeguard the integrity of btc. When I first found out about btc I assumed mining was similar to the old SETI program you could run in the background on your computer to help find ET life out there. I was pretty disappointed when I realised it took investment to participate effectively. I really liked the idea of it being able to withstand any kind of onslaught due to the multitude of miners all around the world. I suppose Satoshi didn't anticipate large dominant mining pools, pity something can't be written in so individual, solo miners could contribute in some meaningful way.

Used to participate at 17orbust back in 2000's. Sierpinski's problem pointed out a great deal of math geekiness back then plus the awesomeness of distributed computing. When I got involved into BTC mining I was wondering "where's all that computing power going". Well. Try explaining this to anybody that's not familiar with distributed computing / math / cryptography and good luck with it.

I agree with you about letting small players in. But; did you consider that even 1Ghs might be able to pay for itself in the (not so distant) future? It's not about the power. It's about the price. We'll see. I like experimenting. I like science. That's why I am here.

[macsga]

what does organofcoti say about this? i highly doubt its 100% true

Voodah, it's just "luck". They're legit and never cheated.

I sincerely hope both of you guys are right..!

I don't really enjoy this at all, and know, calling this out can generate a certain level of hatred by some.

Still, I think we need more transparency.

Trust me it's only luck I have few Ghs on BTC guild and my income today is 30% more than it is normal on this diff.

+1
Same here.

Ah this brings back memories when we had same problem with deepbit. Anyone knows why deepbit stayed on getwork and is not upgrading it just stayed as it was years ago and still mining?

If you're mining on GPU then I think it's your only choice. I still have a 6950 mining on them

[Sitarow]

If you're looking for something different, then follow the lead of those canucks.

Seems they have embraced the cold and are making their trucks out of ice.
http://video.canadiantire.ca/v/1023818007/hockey-practice-the-canadian-tire-ice-truck-commercial-/

http://video.canadiantire.ca/v/1604168342/behind-the-scenes-documentary-of-the-canadian-tire-ice-truck-winter-2013/