Attitudes to mining - Poll for the community

[byteminr]

I'm genuinely interested in the current attitudes to mining from people who have been mining for ages and those who are new to mining.

There is a massive uncertainty around mining, perhaps like never before, due to the ASIC revolution so I'm keen to understand the attitudes right now, before the real 28nm revolution really hits the network.

Adrian
www.byteminr.com

[os2sam]

No mining, no Bitcoin.

That's just the way it is.  The continuation depends on continuation of mining.

[byteminr]

No mining, no Bitcoin.

That's just the way it is.  The continuation depends on continuation of mining.

Maybe in the future people can be paid to mine with a tiny USB miner for the sake of the network, even if the amount of hashing they contribute is negligible,if it adds significantly to network diversity?

[os2sam]

No mining, no Bitcoin.

That's just the way it is.  The continuation depends on continuation of mining.

Maybe in the future people can be paid to mine with a tiny USB miner for the sake of the network, even if the amount of hashing they contribute is negligible,if it adds significantly to network diversity?

Yes..., that is the nature of mining.  Miners get paid with the block reward and transaction fees.

Many seem to want to discourage small time miners.  But we seem to be on the same page that that is bad for Bitcoin.

[mootinator]

No mining, no Bitcoin.

That's just the way it is.  The continuation depends on continuation of mining.

Maybe in the future people can be paid to mine with a tiny USB miner for the sake of the network, even if the amount of hashing they contribute is negligible,if it adds significantly to network diversity?

Yes..., that is the nature of mining.  Miners get paid with the block reward and transaction fees.

Many seem to want to discourage small time miners.  But we seem to be on the same page that that is bad for Bitcoin.

I'm not one of those people. I'm more of a hand out USB Block Eruptors on Halloween instead of candy type.

[byteminr]

No mining, no Bitcoin.

That's just the way it is.  The continuation depends on continuation of mining.

Maybe in the future people can be paid to mine with a tiny USB miner for the sake of the network, even if the amount of hashing they contribute is negligible,if it adds significantly to network diversity?

Yes..., that is the nature of mining.  Miners get paid with the block reward and transaction fees.

Many seem to want to discourage small time miners.  But we seem to be on the same page that that is bad for Bitcoin.

I'm not one of those people. I'm more of a hand out USB Block Eruptors on Halloween instead of candy type.

I tend to agree.

Is there a way to chart the hashing power per node as a percentage of the total network over time?

Is is better to have a thousand 1MH nodes or a single 1GH node when it comes to network security?

[pontiacg5]

A thousand, because even though they likely work together in a pool they can diversify if the actions of the pool require it.

If you end up with a few huge "nodes" they could change the speed or even availability of some transactions at the least, and fork the chain at the worst.

[byteminr]

A thousand, because even though they likely work together in a pool they can diversify if the actions of the pool require it.

If you end up with a few huge "nodes" they could change the speed or even availability of some transactions at the least, and fork the chain at the worst.

Exactly, the network NEEDS small time miners.

I hope to provide that option for people. For their good and for the good of the network.

[byteminr]

Thanks to everyone who voted in the Poll, some really interesting results with a lot of people admitting they are miners and enjoying mining, but tell newbies not to.

I've closed the poll now and I'll run another one in a couple of weeks, after we see the impact of the first KnC delivery on the network, it's going to be EPIC.

I guess we should not be too surprised by the results of the poll, but if you are a newbie, please do your own research and don't be scared of mining, under the right conditions. Also remember, that existing miners usually don't want anyone else to mine for purely selfish reasons!

Personally, I want mining to be shared and distributed among as many people as possible!

Adrian
www.byteminr.com