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Author Topic: A bitcoin cloud?  (Read 2195 times)
Anonymous
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January 08, 2011, 03:30:56 PM
 #1

http://www.openstack.org/

What if the bitcoin botnet used this on its massive gpu cluster when not mining for coins ?

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The OpenStack Open Source Cloud Mission: to produce the ubiquitous Open Source Cloud Computing platform that will meet the needs of public and private clouds regardless of size, by being simple to implement and massively scalable.



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January 08, 2011, 07:06:50 PM
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Why would it ever stop mining for coins?

Hal Finney
Anonymous
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January 08, 2011, 07:47:57 PM
 #3

Why would it ever stop mining for coins?

When its not economical. Also you might get paid in bitcoins by a company which rents the cloud.
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January 08, 2011, 08:55:57 PM
 #4

Why would it ever stop mining for coins?

In the future fees will be the deciding factor in whether mining is worth it. In the extreme (120 years) right after a block is solved there will be no reason to mine because all fees will have just been awarded (or maybe not I guess) and miners will wait until more fees are queued up before they devote their power.

A neat side effect is that the variance in block time will go down. And the average time to next block will be lower in busy times and higher in off-peak hours.
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