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Author Topic: What you don't know about bitcoin...  (Read 2952 times)
gfeidh
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June 24, 2011, 03:39:36 PM
 #21

hahaha, it's a quite good idea then.

at least better than seti or folding@home, at least get people motivated by "real" money, instead of just mental satisfaction...

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jstorm
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June 24, 2011, 03:43:00 PM
 #22

Wow, glad to see that was a bunch of drivel. I'm new to bitcoin and here and reading that was making my head hurt - still trying to figure out where my wallet.dat is and along comes this nuttery.

Thanks all for the smiles. Some people just love to be an arse, huh.  Tongue
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June 24, 2011, 03:48:27 PM
 #23

Not trying to feed the troll or anything, but isn't this something you could debunk just by looking at the source code? Just making sure I understand how BTC works...
elmer
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June 24, 2011, 03:49:16 PM
 #24

Sadly, if there really were some kind of AMD and Satoshi conspiracy (as BkkCoins suggests), it was poorly planned. AMD's evil plan to sell more GPUs has done nothing to help their stock price! Lackluster performance since the start of the year, and just plain awful in June.
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June 24, 2011, 03:51:40 PM
 #25

I'm about 99% sure the OP was joking.  Always fun to see people get all serious and jump on a poster in cases like this.

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June 24, 2011, 08:03:45 PM
 #26

Sadly, if there really were some kind of AMD and Satoshi conspiracy (as BkkCoins suggests), it was poorly planned. AMD's evil plan to sell more GPUs has done nothing to help their stock price! Lackluster performance since the start of the year, and just plain awful in June.

Not just poorly planned, completely unlikely. There were two years of GPU-unassisted mining. The newest version ATI cards are actually slower at mining. There's been talk on here of getting hashing ASICs made. If AMD came out with a 10000 core hashing-optimized GPU for high performance computing, then they would have a real game-changer. There's no need to do that now, miners are not buying nVidia (name anybody on this forum who's main gaming rig is running nVidia now), but AMD should have a strategy when nVidia leaps ahead. A 5x jump in performance and a 5x power reduction would make every video card you own obsolete.

Duh, I made a joke with my OP, but you see how long it takes you to try to find documentation of exactly how and where the 'difficult problem' hash is generated, and verify that it works that way in the code.

It's amazing how much electricity and processing time is being used for nothing at all, when it could actually be a distributed computing project (as long as the difficult computing part was impossible to bypass with hacked software and would never end, it would still stand the test). With the bitcoin network at 9,876 gigahashes/second currently, and the cheapest gpu hashing coming in at about 500 watts per gigahash/s, that is about 5 Megawatts of electricity being generated and used for computing nothing. Add to that the nasty chemical pollution from third-world chip fabs, and Bitcoin is the most earth-unfriendly project ever created (well, maybe second to General Motors).

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June 24, 2011, 08:18:11 PM
 #27

This is an obviously-incorrect conspiracy theory. If you want a more plausible one -- the goal was to create a massive community project to develop optimized hashing hardware and software.

I am an employee of Ripple.
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Mittlyle
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June 24, 2011, 09:07:06 PM
 #28

I don't think Bitcoin is anything that sort. But I'm pretty sure people at NSA and such are banging their heads to the wall for not inventiung this themselves. To be honest I don't understand the specifics behind the cryptography of Bitcoin so my opinion is not worth much here. If somebody has anything to prove this point, I would be glad to hear more.
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June 24, 2011, 10:19:18 PM
 #29

Well I doubt bitcoin is a password cracking operation, but I was thinking that crackers probably soon will have their own p2p network to crack passwords.

When BTC soars, you need to be READY!  PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!

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DDreez
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June 24, 2011, 11:41:33 PM
 #30

Wasn't that computing power supposed to do something else too, like moving tons om bitcoins around? Oh, that's why it's so slow? Tinfoil point!
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June 25, 2011, 10:17:23 AM
 #31

The largest "supercomputer" in the world and it's calculating numbers to keep our money safe because someone else can't calculate them as fast.

This really says something about the human race.

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June 25, 2011, 10:32:43 AM
 #32

Can this be true? What are the evidence/indications for this?
burger
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June 25, 2011, 12:24:27 PM
 #33

That's a quite interesting idea =)

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June 25, 2011, 12:29:37 PM
 #34

Thank you for the good laugh while anxiously waiting for that damn Mt.Gox to get back online
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June 25, 2011, 02:15:54 PM
 #35

All your M/hash are belong to us!
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June 25, 2011, 03:26:30 PM
 #36

The only flaw here is that most mining software, including the bitcoin client, is open source.
Thank you for the good laugh while anxiously waiting for that damn Mt.Gox to get back online
Another one bites the gox!
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June 25, 2011, 03:34:44 PM
 #37

Well played my good man, well played. However, this may or may not be 100% accurate  Grin
DJcoins
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June 25, 2011, 03:37:05 PM
 #38

interesting!
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June 25, 2011, 03:40:21 PM
 #39

Not trying to feed the troll or anything, but isn't this something you could debunk just by looking at the source code? Just making sure I understand how BTC works...

That's obviously fake source code. They just put that out there to deter everyone.  Wink

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June 25, 2011, 04:00:00 PM
 #40

Setec Astronomy.

Man I loved that movie!
Nice trolling BTW.
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