Wholy cowpie batman, I stop mining 6 months ago, and come back and find that I can't even make it on the board.
(dual gpu @ 130mh)
Oh well, now I just start my miners and use them as a heater when I need heat in my room.
Looks like the bitcoin network is going to get much smaller over time, as more and more hashers can't make the board.
This is a VERY BAD THING.
This means that the security of the network is reduced, and is susceptible to shutdown using legal pressure on the few miners that are left.
Bitcoins strength was that it has so many hashers, the idea that any government could take down the hashers was impossible.
The death of fiat using the method of death by 1,000,000 cuts, now seems like its not going to happen.
As ROI disappears, only hashers left will be behemoths.
This implys that the entire network should implement a NODE policy (rewards for just running a hasher of any rate)
Even max rewards no matter who runs bigger hash.
(this would create hashers that just want the fame of being a large hasher(bragging rights) AND keep all the little nodes running.
Similar to how torrents work. They work not because a single user is pushing gigabits, but because all users are pushing megabits(times 1,000)
If a ratio policy was implemented into torrents, the idea would have already failed(like the old days of ftps)
The value isn't in the nodes hash rate, but the fact that they are yet another node doing the relay race.
Rewards for running any hasher should have been implemented into the design to encourage everyone to stay in.
I don't really know, but I DO know that the number of participating hashers(regardless of hash rate) makes it safer for everyone.
Really, who cares who hashes more, if they are a single point of failure, it completely throws the model out the window.
Bitcoin2.0 needs to start now before the entire network hashes its self out of existence.
I understand that the bitcoin generated isn't worth the POWER the gpus use, but what if someone wants to generate SOMETHING?
(even very small returns?)
If you can't generate a single share, you can't get on the list, so....
in the words of willy... http://www.youtube.com/watch?v=M5QGkOGZubQ