Bitcoin - we have a problem.

[boatase]

BTC is poised to pave the road but we should just hope that entities such as the US gov don't intervene and drive it underground

[1714852862]

1714852862

[DPoS]

BTC is poised to pave the road but we should just hope that entities such as the US gov don't intervene and drive it underground

if they can stop btc then it aint the US gov..  it is then the NWO

[notme]

P2Pool has gone from 30 hours/block to 23.2 hours/block since I started actively attempting to dispel the myth that p2pool doesn't work for any ASICs (no rovchris, I'm not just picking on you).  I'm not going to say I am responsible for any of that, but that kind of gain can only be explained by ASICs.  Clearly the situation is more complex than "p2pool doesn't work with ASICs".  Instead of shutting down the solution, you should ask yourself why you are looking for a problem.  P2Pool works for many ASICs, and is being actively improved so it will hopefully work well for the higher latency hardware.  If we don't quite capture the entire hardware market with this update progress will continue.  The problem is well understood and will be solved.  You can continue to look for other solutions to pool centralization, and I encourage p2pool competition.  However, I don't appreciate it when people needlessly lock potential doors for others.  If you want to say p2pool is hard to set up, fine.  If you want to say p2pool requires more robust hardware, fine.  But please refrain from slowing the growth of p2pool by spreading rumors.  I hope this makes my position clear.  I do not suggest anyone use p2pool with certain ASICs if you want a plug and play solution.  Many will require a bit of fiddling.  However, if you can set up p2pool, you can probably figure out the tweaks you need with a little bit of searching.  P2Pool will take some time to grow and to be refined but it will soon cover most if not all ASICs.

[rovchris]

P2Pool has gone from 30 hours/block to 23.2 hours/block since I started actively attempting to dispel the myth that p2pool doesn't work for any ASICs (no rovchris, I'm not just picking on you).  I'm not going to say I am responsible for any of that, but that kind of gain can only be explained by ASICs.  Clearly the situation is more complex than "p2pool doesn't work with ASICs".  Instead of shutting down the solution, you should ask yourself why you are looking for a problem.  P2Pool works for many ASICs, and is being actively improved so it will hopefully work well for the higher latency hardware.  If we don't quite capture the entire hardware market with this update progress will continue.  The problem is well understood and will be solved.  You can continue to look for other solutions to pool centralization, and I encourage p2pool competition.  However, I don't appreciate it when people needlessly lock potential doors for others.  If you want to say p2pool is hard to set up, fine.  If you want to say p2pool requires more robust hardware, fine.  But please refrain from slowing the growth of p2pool by spreading rumors.  I hope this makes my position clear.  I do not suggest anyone use p2pool with certain ASICs if you want a plug and play solution.  Many will require a bit of fiddling.  However, if you can set up p2pool, you can probably figure out the tweaks you need with a little bit of searching.  P2Pool will take some time to grow and to be refined but it will soon cover most if not all ASICs.

You see man that was a good well balanced response these are the kind of posts that I was looking for.

Thank you.

[rovchris]

If p2pool node software was integrated into the Bitcoin-qt client so it is only one download and as simple as installing the normal client and a simple set up procedure i.e. you only have to enter a username and password - it would make a massive difference to the take up. Also a new tab that displayed all the stats that you have to request through your web browser as well.

Similar to how the original client had the option to "Mine".

At the moment it is too disjointed and is only going to appeal to people that are technically competent.

That would be my suggestion to help build the user base quickly.

[polarhei]

Use Litecoin.

There is no ASICs at all, furthermore transaction is four time faster in ordinary state.

The statement is meaningless. Currently, litecoin ASIC does not exist for the time being because of costly memory.  Currently, GPU is a form of ASIC.

[notme]

If p2pool node software was integrated into the Bitcoin-qt client so it is only one download and as simple as installing the normal client and a simple set up procedure i.e. you only have to enter a username and password - it would make a massive difference to the take up. Also a new tab that displayed all the stats that you have to request through your web browser as well.

Similar to how the original client had the option to "Mine".

At the moment it is too disjointed and is only going to appeal to people that are technically competent.

That would be my suggestion to help build the user base quickly.

The problem is that most of us in this community that are technically competent don't use Windows and very few of us know how to develop for it.  If someone reading this does have such skills, a single install p2pool GUI integrated with a wallet for windows would be awesome.

[notme]

For those who may be interested, p2pool just hardforked to settings that should work much better for ASICs that previously had issues.  If you are an adventurous Avalon, AM Blade, or BFL Single owner, I encourage you to give it a shot.  If you are more conservative about potentially losing a couple percent for day or aren't comfortable tweaking config files, you may want to wait for reports and guides to be developed.  If you do try it, please try it for at least a day.  After 24 hours, if your efficiency is 100% or better you will earn as much or more than a 0 fee pool that pays out transaction fees.  There are also guides for merged mining other coins if you are interested.

[rovchris]

The ethos behind bitcoin is fantastic but their is a fatal flaw that is being highlighted at the moment and that is the difficulty. It only leads to one logical conclusion the centralisation of mining and transaction processing as that will be the only way you will be able to generate any coins.

ASICMiner has some problem at the moment and because they are so large it has impacted the entire network. If another big mining pool goes down we may be looking at 40 mins between blocks maybe even longer - transactions are not processed if no blocks are solved.

The whole resilience of the network is being brought into question here - If these guys go offline for what ever reason with the difficulty where it is now everything is going to grind to a halt. A couple of business should NOT have this impact on the network.

What are your thoughts on this?

And 1 year on from the original post the network has become more centralised.

http://www.cryptocoinsnews.com/news/bitcoin-mining-pool-ghash-io-ddos-ed-response-51-attack/2014/06/15

[Rassah]

And 1 year on from the original post the network has become more centralised.

http://www.cryptocoinsnews.com/news/bitcoin-mining-pool-ghash-io-ddos-ed-response-51-attack/2014/06/15

Not really. A year ago we had about as many major pools as today, and we've had these approaching-51% issues then too (It was BTCJam at the time). And the year before (I think slush came really close).