[4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool

[tommymal83]

maybe the chinese hav'nt they just finished the testing stage of there s2 ??

[amspir]

Who is selling such large volumes of BTC and forcing the price so low?

It is yet another "China will ban bitcoin" rumor.   China is responsible for a significant part of the speculation market in bitcoin.

[The Avenger]

Who is selling such large volumes of BTC and forcing the price so low?

KNC are flooding the market with coins from their massive datacentre on a daily basis

https://bitcointalk.org/index.php?topic=170332.msg5872330;topicseen#msg5872330

Assholes  

In case you haven't seen the pictures of their datacentre yet:

[Datelli]

Biggest threat is from these 'unknowns' like https://blockchain.info/blocks/137.117.202.26 - seems to have 8PT+

That IP address is owned by Microsoft.

Just something to keep in mind, blockchain records the node that first relayed the transaction to them.  It doesn't really know who originated the transaction.   Blocks mined from known public pools are marked that way, usually because blockchain attempts to stay in connection with them, and secondly, because most pools inscribe an ID sequence in the block.

That's correct.  It does look like that the person solving the block is the same person since the Coinbase signatures follow a similar pattern.  Not necessarily Microsoft of course since that owned IP is simply relaying, but seems rather odd that the same IP is relaying so many blocks.  Maybe it is a strategy for a big miner to hide their mining farm.  However, I don't know if it's possible to force your solved blocks to always be relayed first by the same IP.  Anyone have any information on this?

Maybe it's this guy / organisation:

• http://www.ibtimes.com/secret-bitcoin-mine-chinese-facility-uses-boiling-liquid-cool-massive-computers-generate-bitcoins

• http://www.theverge.com/2013/12/2/5165428/bitcoin-mine-in-hong-kong-uses-jelly-to-keep-cool

• http://hongwrong.com/hong-kong-bitcoin/

[/list][/list]

[Gyrsur]

Who is selling such large volumes of BTC and forcing the price so low?

KNC are flooding the market with coins from their massive datacentre on a daily basis

https://bitcointalk.org/index.php?topic=170332.msg5872330;topicseen#msg5872330

Assholes  

In case you haven't seen the pictures of their datacentre yet:

^^THIS!!

[Mudbankkeith]

Who is selling such large volumes of BTC and forcing the price so low?

KNC are flooding the market with coins from their massive datacentre on a daily basis

https://bitcointalk.org/index.php?topic=170332.msg5872330;topicseen#msg5872330

Assholes  

In case you haven't seen the pictures of their datacentre yet:

What is the U1/U2 equivalence factor?

[finbad2]

price of bitcoin crashing is a good thing,  "BIG"  miners will have to shut down until the price improves, at $135 the mongo outfit above just cannot be making money, (just like real world gold and diamond miners do) , which gives the little fish (like me) more chance to mine with their obsolete hardware. As in the real world, when the price improves, as in the real world anywhere from 1 to 15 years from now, they can start up again. 

WOW, and i thought my $1000 spent was risky.....

imho.

[Gyrsur]

price of bitcoin crashing is a good thing,  "BIG"  miners will have to shut down until the price improves, at $135 the mongo outfit above just cannot be making money, (just like real world gold and diamond miners do) , which gives the little fish (like me) more chance to mine with their obsolete hardware. As in the real world, when the price improves, as in the real world anywhere from 1 to 15 years from now, they can start up again.  

WOW, and i thought my $1000 spent was risky.....

imho.

they will not go offline until they have a minus income without hardware costs. the only reason for them to switch it off are constant losses (btc price - energy costs).

[necro_nemesis]

They might sell the equipment off if they feel the currency will continue to decline and try and leave someone else holding the bag on unprofitable hardware.

[finbad2]

frankly

at this point in time

the chumps that bought it to that monstrosity are holding the bag

[tommymal83]

Hi guys just wondering if someone can advise me, i withdrew part of a bitcoin to my wallet for the first time, a few days ago,
and its up to 133 confirmed, its showing a balance, but no balance in the unconfirmed as 0.000btc, and in transactions the logo is grayed out,
am i doing something wrong to need so many confirmations.......thanks

[necro_nemesis]

frankly

at this point in time

the chumps that bought it to that monstrosity are holding the bag

I don't think it's that simple. Imagine your able to mine as inexpensively as anyone in the world through producing your own rigs at cost on other peoples money. Now also imagine you produce enough bitcoin to be able to control the price of BTC by selling it on the market. You not only can mine for less than anyone else but you can also drive the price down to where no one else wants to compete and tweak that price as you see fit to achieve your aim by selling or stockpiling BTC.

[Searing]

frankly

at this point in time

the chumps that bought it to that monstrosity are holding the bag

I don't think it's that simple. Imagine your able to mine as inexpensively as anyone in the world through producing your own rigs at cost on other peoples money. Now also imagine you produce enough bitcoin to be able to control the price of BTC by selling it on the market. You not only can mine for less than anyone else but you can also drive the price down to where no one else wants to compete and tweak that price as you see fit to achieve your aim by selling or stockpiling BTC.

not to mention cooling is not an option there in the facebook data center area of the ice bank of Greenland or whatever...and you are getting thermal energy converted to elec at like 1 cent per kwh or some such..and as stated above you control all the mnfg from say KNC in units into your GH Hosting farm and thus get all equip at what it cost to make...(at least in KNC's case)

ie this is why i dumped my Neptune....hard to see how i could get more $$$ on mining with Neptune (by the time i got it)  then just buying coin looking at the fact my main competition was probably the guy that sold me the unit!!!!!...KNC likely was told imho from their chip guys that no way 20mm could they get it out fast enough with difficulty rise to make a product and get it to the customer ..they could however make 28mm stuff for themselves and get a farm ..a very large farm...and mine themselves...seems to be working I heard they we're making like ....well can't remember but it was obscene amount of coin per day..

now that small miner physical miners are likely dead....we now will move on to "virtual miners' ............................me don't think that is gonna work to good.....duh

but yeah they can run coin way way down and still make a tidy sum imho (not to mention most of these farms were 'started' when coin was 1K usd or so....they will at least
complete whatever is in the pipeline out their in private GH farm stuff imho.this is all vendors of this type not just knc.....that will take like couple months..then if btc price is still low...you will see a big drop off of equip in my view...the big miners will slow or halt expansion (in knc's case they wanted to put up 3 giant farms..they likely will stall on last 2 if above correct) and the GPU guys or people running 60g singles from BFL or whatever will drop off the other end

of course no equip will be available to us....but hey....

at this point the miracle of "virtual mining" will be released .....i shudder in anticipation

Searing

[necro_nemesis]

I think mining will come down to a leap of faith with these giants having their fill. The mining equipment you have will eventually barely cover it's weight in hydro but people may continue hoping to see a rise in BTC once dumping new coin ceases. Hardware will drop to minimal margins and likely amount to large clusters of the handful of cost efficient ASICs. We'll probably see some cloning or reverse engineering of those ASICs as well making R&D investment questionable and further leveling the ASIC market. There's no honor amongst thieves. The size of rigs will likely be a function of how many amps can be drawn from a household circuit more than any other factor. If there's any interest left in selling hardware the dumping will be limited to ensure BTC covers average hydro and leaves minimal incentive to mine over buy BTC.

It's kind of depressing that this all comes on the backs of people supporting the future of the currency and holding it's value up. In some ways I'd like to see it tank enough to shatter these guys and bring some caution into mining at large scale. Then little guys will have a chance with cheap hardware floating around at bringing BTC back up sensibly.

[Mblackout]

Welcome to the Arms Race of Mining    chips will draw less power and be more powerful.  I dont understand why people today still buy ant miners.  Too much power consumption for the return. 

Anyway..   Too many long blocks......

[necro_nemesis]

Low BTC price is going to slow development and we've all been well schooled on the pitfalls of pre-sales to fund advancement sold as being for our benefit. With physics coming into play now that ASIC designers are not discounting efficiency in the latest round of designs, I'm not so certain technical leaps and bounds are going to be the next solution. Economics of mining will take on a different perspective IMHO and these large operations have a greater effect than a new ASIC. It would have to be profoundly better than all these makers are independently achieving.

[nybbler905]

Hi guys just wondering if someone can advise me, i withdrew part of a bitcoin to my wallet for the first time, a few days ago,
and its up to 133 confirmed, its showing a balance, but no balance in the unconfirmed as 0.000btc, and in transactions the logo is grayed out,
am i doing something wrong to need so many confirmations.......thanks

1) back up your wallet.dat to a thumb drive and name it something simple and obvious like ' BTCWallet.dat.encripted '
2) close and restart your wallet
3) you didn't say what OS or version of Bitcoin wallet you are using, download the latest version AFTER killing the current one you have ( but not the wallet.dat or block chain info ) and try that.

[BoogieMan82]

I'm personally fine with the dip.  Bitcoins are a currency and/or a long term investment. When Microtraders with huge stacks of Bitcoins finally get out, things will stabilize.

Now... to deal with the luck we have been having... lol!

[Mblackout]

I'm personally fine with the dip.  Bitcoins are a currency and/or a long term investment. When Microtraders with huge stacks of Bitcoins finally get out, things will stabilize.

Now... to deal with the luck we have been having... lol!

+10000000000000   on the luck...  need to get back on a roll,   just when we start its like we hit a 20 hr block.   ugggggg

[TRSundown]

Slushs pool holds too small a market share of hashing. Slushs is only 2% of the hash power... its only going to get worse as the two or three largest hashing pools get even bigger. Ghash, BTC Guild, and Discus... Heck even Eligius are way to big. Its unfortunate that they could not have worked some more even distribution limits into the BTC math to keep it more evenly distributed. Those big ones should burn to the ground... seriously... They should all burn...