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Author Topic: [40+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 3857973 times)
KNK
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September 28, 2013, 10:18:15 AM
 #12241

I can't agree:
'the jump in speed and tech' - compare CPU with GPU speed
'didnt have big company's producing massive power crunching machines' - dozens of GPU's from both Nvidia and ATI

once again nothing different now than the switch from CPU to GPU ... this is called (hardware) evolution and is perfectly normal and expected.

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September 28, 2013, 10:33:27 AM
 #12242

I can't agree:
'the jump in speed and tech' - compare CPU with GPU speed
'didnt have big company's producing massive power crunching machines' - dozens of GPU's from both Nvidia and ATI

once again nothing different now than the switch from CPU to GPU ... this is called (hardware) evolution and is perfectly normal and expected.

are you mad!!! so by your logic a jump from GPU to 1Thash is the same. i think you failed maths at school sorry but you deserve that
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September 28, 2013, 10:37:39 AM
 #12243

1Th/s ASIC vs 600Mh/s GPU = 600Mh/s GPU vs 360kh/s CPU

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September 28, 2013, 10:37:46 AM
 #12244

The same Bitcoin apocalypse predictions from the GPU times have proved wrong and now it is no different.
Just because the difficulty jumps too fast does not mean Bitcoin will die. The way you think, you would also say that when there are no more block rewards bitcoin will die, so why Satoshi did that? All this is not unexpected and this will not be the last huge difficulty jump, but we will have few years till the next one.

im talking about the jump in speed and tech, satochi said bit coin would take until 2140 to be complete ! its now something like 2040 becuase of the speed in which we mine , we are mining our way out of bitcoin, the change you speak of didnt have big company's producing massive power crunching machines, im saying the tech has shot us in the foot. im just trying to have a VALID opinion of the situation, so dont drag me to the wolves for it, once we can see whats really going on we can work together to find away we can continue , Problem Action Solution

Is this post fair ?

The last freshly minted Bitcoin won't be anywhere near 2040.  I believe ~2040 is when the subsidy drops below a full coin per block.  "2140" is the date where the subsidy actually becomes 0 because it would be a fraction of a satoshi.  The difficulty adjustment keeps the halving events *roughly* 4 years apart.  Obviously early on in the life of Bitcoin these events will happen more frequently because difficulty adjustments are a backwards-looking adjustment rather than forward-looking adjustment.  Exponential growth is not sustainable, and the previous posters were correct.  GPU -> ASIC is basically the same as CPU -> GPU was.  Actually, what we're seeing today isn't even close to the jumps we saw from CPU->GPU in terms of percentage growth when GPU mining first started.

The first time GPU mining was introduced is the first and only time in Bitcoin's history where the limit on a difficulty increase (+300% in a single adjustment) was ever hit.

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September 28, 2013, 10:52:53 AM
 #12245

The same Bitcoin apocalypse predictions from the GPU times have proved wrong and now it is no different.
Just because the difficulty jumps too fast does not mean Bitcoin will die. The way you think, you would also say that when there are no more block rewards bitcoin will die, so why Satoshi did that? All this is not unexpected and this will not be the last huge difficulty jump, but we will have few years till the next one.

im talking about the jump in speed and tech, satochi said bit coin would take until 2140 to be complete ! its now something like 2040 becuase of the speed in which we mine , we are mining our way out of bitcoin, the change you speak of didnt have big company's producing massive power crunching machines, im saying the tech has shot us in the foot. im just trying to have a VALID opinion of the situation, so dont drag me to the wolves for it, once we can see whats really going on we can work together to find away we can continue , Problem Action Solution

Is this post fair ?

The last freshly minted Bitcoin won't be anywhere near 2040.  I believe ~2040 is when the subsidy drops below a full coin per block.  "2140" is the date where the subsidy actually becomes 0 because it would be a fraction of a satoshi.  The difficulty adjustment keeps the halving events *roughly* 4 years apart.  Obviously early on in the life of Bitcoin these events will happen more frequently because difficulty adjustments are a backwards-looking adjustment rather than forward-looking adjustment.  Exponential growth is not sustainable, and the previous posters were correct.  GPU -> ASIC is basically the same as CPU -> GPU was.  Actually, what we're seeing today isn't even close to the jumps we saw from CPU->GPU in terms of percentage growth when GPU mining first started.

The first time GPU mining was introduced is the first and only time in Bitcoin's history where the limit on a difficulty increase (+300% in a single adjustment) was ever hit.

Agreed , so lets look at some more maths : the number of new people mining Vs the speed in which they mine Vs the speed in which the new faster boxes are being designed and released by the BIG companys

hows the future look, im thinking if we all got to a 1Thash Mining rig and theres & 80,000 of us ? well Peta hash is being developed so lets all have a 1Phash mining rig , wheres dose this end ? i think my ultimate question is this ......................dose the genius of satochi protect against this? so that its still fair for everyone or will HSBC own the worlds largest Hashing rig in the near future ? i dont know anymore i give up !
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September 28, 2013, 11:26:57 AM
 #12246

1Th/s ASIC vs 600Mh/s GPU = 600Mh/s GPU vs 360kh/s CPU

not sure thats correct?

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September 28, 2013, 11:28:40 AM
 #12247

If this 2.0, I want 1.0 back.  It should be a beta release; buggy as hell.  Smiley
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September 28, 2013, 11:56:06 AM
 #12248

I'm gonna attempt to break the spell again...

...5:38:06 and counting.
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September 28, 2013, 11:57:31 AM
 #12249

1Th/s ASIC vs 600Mh/s GPU = 600Mh/s GPU vs 360kh/s CPU

not sure thats correct?


1000 GH / 0.6 GH = 1666.666

600 MH / 0.36 MH = 1666.666

Looks the same to me - simple maths...

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September 28, 2013, 12:44:59 PM
 #12250

Is the bitcoin boat sinking?

Looks like it, 15 hours for a block between yesterday and today... That is on Slush's Pool. If the difficulty goes to 200000000 (which is most likely) in 2 weeks time will it still be worth to mine on pools for small miners? Maybe we should all go solo? You won't get much out of pools neither solo but hey if you find a block when soloing it's all yours!  Grin Would be nice to hear what you guys think about it.

Also I was thinking of investing in a Cointerra 2TH box but by the time I get it (Jan or probably "2 weeks time" after that deadline) the difficulty will be so high that you'd need 20TH to mine anything.

And another query, if mining will become impossible/unprofitable for most people will Bitcoin lose its steam?

i think we have a front row seat on the fall and collapse of bitcoin, and never thought i would say that , time to cancel my ebay orders for asic miners !!!!!!!
People got greedy by making asic miners too fast , i dont think satochi thought this would happen , this wasnt in his maths
Prove me wrong someone !!

Your first problem is using eBay to buy a bitcoin miner. The second is I have no clue what you're arguing, that bitcoin is going to die due to asic, that asic is 'cheating', or that the growth curve right now looks any different from the one 3 years ago where using gpus was discovered

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September 28, 2013, 12:48:45 PM
 #12251

Last two blocks have taken more than 22 hours 12 minutes together... Less than two hours missing to a full day.
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September 28, 2013, 01:38:03 PM
 #12252

Is the bitcoin boat sinking?

Looks like it, 15 hours for a block between yesterday and today... That is on Slush's Pool. If the difficulty goes to 200000000 (which is most likely) in 2 weeks time will it still be worth to mine on pools for small miners? Maybe we should all go solo? You won't get much out of pools neither solo but hey if you find a block when soloing it's all yours!  Grin Would be nice to hear what you guys think about it.

Also I was thinking of investing in a Cointerra 2TH box but by the time I get it (Jan or probably "2 weeks time" after that deadline) the difficulty will be so high that you'd need 20TH to mine anything.

And another query, if mining will become impossible/unprofitable for most people will Bitcoin lose its steam?

i think we have a front row seat on the fall and collapse of bitcoin, and never thought i would say that , time to cancel my ebay orders for asic miners !!!!!!!
People got greedy by making asic miners too fast , i dont think satochi thought this would happen , this wasnt in his maths
Prove me wrong someone !!

Your first problem is using eBay to buy a bitcoin miner. The second is I have no clue what you're arguing, that bitcoin is going to die due to asic, that asic is 'cheating', or that the growth curve right now looks any different from the one 3 years ago where using gpus was discovered

Or the crazy time just after MTGOX opened where the network difficulty increased tenfold during July 2010.

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September 28, 2013, 02:12:55 PM
 #12253

an aside, when did maths become acceptible? math is short for mathematics which is a plural. Maths would be a plural plural.  Huh

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September 28, 2013, 02:16:22 PM
 #12254

an aside, when did maths become acceptible? math is short for mathematics which is a plural. Maths would be a plural plural.  Huh

"Maths" is short for "mathematics". "Math" is short for "mathematic", or possibly "aftermath". Grin

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September 28, 2013, 02:24:56 PM
 #12255

an aside, when did maths become acceptible? math is short for mathematics which is a plural. Maths would be a plural plural.  Huh

"Maths" is short for "mathematics". "Math" is short for "mathematic", or possibly "aftermath". Grin

It is a strange new world, this internet, where conventions get changed at the drop of a hat. It must be the international aspect, where what we've learned becomes myopic. Cheesy

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MerchantMiner
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September 28, 2013, 02:31:01 PM
 #12256

Is the bitcoin boat sinking?

Looks like it, 15 hours for a block between yesterday and today... That is on Slush's Pool. If the difficulty goes to 200000000 (which is most likely) in 2 weeks time will it still be worth to mine on pools for small miners? Maybe we should all go solo? You won't get much out of pools neither solo but hey if you find a block when soloing it's all yours!  Grin Would be nice to hear what you guys think about it.

Also I was thinking of investing in a Cointerra 2TH box but by the time I get it (Jan or probably "2 weeks time" after that deadline) the difficulty will be so high that you'd need 20TH to mine anything.

And another query, if mining will become impossible/unprofitable for most people will Bitcoin lose its steam?

i think we have a front row seat on the fall and collapse of bitcoin, and never thought i would say that , time to cancel my ebay orders for asic miners !!!!!!!
People got greedy by making asic miners too fast , i don't think satochi thought this would happen , this wasn't in his maths
Prove me wrong someone !!

Your first problem is using eBay to buy a bitcoin miner. The second is I have no clue what you're arguing, that bitcoin is going to die due to asic, that asic is 'cheating', or that the growth curve right now looks any different from the one 3 years ago where using gpus was discovered

Ok so there's a lot wrong with your response and i have no time to point it out , also cant you see the difference between a statement or an argument , i cant respond to what you wrote as you made no sense. i dont mean to be offensive but your kinda short sighted, using the argument of old dose not apply here, was the same situation relevant back then as is now ? No would be the answer!  im sorry but alot of people on this forum dont know what there talking about they just post there un educated responses , im not interested in peoples opinion im looking for information,

my issue is that the times now are not the same as before , forget the jump from CPU to GPU forget the hassle with MtGox , there in the past. TODAY there are new challenges with the network . i don't see it being sustainable in the near future for individuals like us and so far no one has given me a response to prove otherwise!!!!!!!!!!!!!! Or are all these issues with slush pool!!!!!  


i didn't say anything about cheating, i didn't say i was arguing , i didn't say anything about ebay being the problem , you stated that not me ...........
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September 28, 2013, 02:32:36 PM
 #12257

an aside, when did maths become acceptible? math is short for mathematics which is a plural. Maths would be a plural plural.  Huh

"Maths" is short for "mathematics". "Math" is short for "mathematic", or possibly "aftermath". Grin

It is a stramge new world, this internet, where conventions get changed at the drop of a hat. It must be the international aspect, where what we've learned becomes myopic. Cheesy

Nah, don't feel too bad about it. It's just that you've learned American English, and they do weird things with the language. Like "tho" and "math" and "flickr".


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Trongersoll
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September 28, 2013, 02:36:51 PM
 #12258

an aside, when did maths become acceptible? math is short for mathematics which is a plural. Maths would be a plural plural.  Huh

"Maths" is short for "mathematics". "Math" is short for "mathematic", or possibly "aftermath". Grin

It is a stramge new world, this internet, where conventions get changed at the drop of a hat. It must be the international aspect, where what we've learned becomes myopic. Cheesy

Nah, don't feel too bad about it. It's just that you've learned American English, and they do weird things with the language. Like "tho" and "math" and "flickr".


yeah, and i learned it in the '60s. The one i hate is "I seen", I've actually had people tell me the "have" is implied. It just sounds illiterate to me.

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September 28, 2013, 02:56:52 PM
 #12259

an aside, when did maths become acceptible? math is short for mathematics which is a plural. Maths would be a plural plural.  Huh

"Maths" is short for "mathematics". "Math" is short for "mathematic", or possibly "aftermath". Grin

It is a stramge new world, this internet, where conventions get changed at the drop of a hat. It must be the international aspect, where what we've learned becomes myopic. Cheesy

"Math" is American English; "Maths" is British English. It's hardly a new convention (being first and all...).
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September 28, 2013, 03:11:05 PM
 #12260

Voodoo: oddly, the pool falls below 80Th/s and a block gets found. I wonder if the pool is having trouble dealing with the current amount of traffic, a scaling issue. or perhaps it is just coincidence. Cool

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