[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit)

[Anonymousg64]

they should use something other then ghash.io

[Aireun]

I grow so tiresome of reading FUD and pessimistic jargon on this form. Peta imo is doing fantastic and contributing largely to our wallets and the bitcoin network. If you believe your smarter than the cryptix crew and wish to start your own milliondollar mining operation then by all means bug off and do so and stop wasting time and energy on this form. Thank you.

[spartan82]

Share price has been quite steady lately, I think the trolls are much less effective as they once used to be. People are starting to use their own brains rather than becoming sheep

[nwfella]

Definitely holdin my few shares.

My guess for next week's dividend: 0.00203583

[altoidmintz]

How we doing vs our competition?

http://bitcoinvox.com/article/722/four-cloud-mining-experiments

[Draino]

bitcoin's failure as a decentralized service will probably make worrying about dividends paid in bitcoin seem a little silly.  if we're all truly blinded by this level of greed, i guess we deserve it.  bring on ghash coin.

[_biO_]

bitcoin's failure as a decentralized service will probably make worrying about dividends paid in bitcoin seem a little silly.  if we're all truly blinded by this level of greed, i guess we deserve it.  bring on ghash coin.

If bitcoin requires it's participants to "play nice", it already failed. If large pools present a problem, the protocol needs to penalize large pools, or at the very least not make it beneficial to be in one.

[jjdub7]

so how do you guys feel about contributing to a 51% attack on the bitcoin network for a streamlined interface?

+1/2 +3/4

IF the PETA fund also traded on the hashing power it holds on Ghash, then it might offer some added value over other mining opportunities.  Otherwise its just another security and should be included in a diverse basket of mining holdings.

[Draino]

bitcoin's failure as a decentralized service will probably make worrying about dividends paid in bitcoin seem a little silly.  if we're all truly blinded by this level of greed, i guess we deserve it.  bring on ghash coin.

If bitcoin requires it's participants to "play nice", it already failed. If large pools present a problem, the protocol needs to penalize large pools, or at the very least not make it beneficial to be in one.

sweet, so in the meantime let's prove how foolhardy we can really be

[freedomno1]

Just as a curiosity but how much mining power do you need now to solomine successfully without using an intermediary.

[spartan82]

Just as a curiosity but how much mining power do you need now to solomine successfully without using an intermediary.

I believe for the meantime we are quite capable of successfully solo mining as opposed to mining via ghash pool. That is my opinion anyway. However I think cryptx chose against solo mining as the outcome is actually less predictable that way

[_biO_]

Just as a curiosity but how much mining power do you need now to solomine successfully without using an intermediary.

I believe for the meantime we are quite capable of successfully solo mining as opposed to mining via ghash pool. That is my opinion anyway. However I think cryptx chose against solo mining as the outcome is actually less predictable that way

In theory you can alway solo mine, as it averages out to the same result. As you pointed out, there would be a higher variance in the dividends. With 1.5% of the network it probably averages out fast enough to be an option. But there's no real benefit here. On the other hand you'd be your own pool admin now, which means you'd have a whole new set of responsibilities. You need good and stable pool software, you need to setup merged mining, you need a very good internet connection, etc... Just not worth the trouble.

[spartan82]

Just as a curiosity but how much mining power do you need now to solomine successfully without using an intermediary.

I believe for the meantime we are quite capable of successfully solo mining as opposed to mining via ghash pool. That is my opinion anyway. However I think cryptx chose against solo mining as the outcome is actually less predictable that way

In theory you can alway solo mine, as it averages out to the same result. As you pointed out, there would be a higher variance in the dividends. With 1.5% of the network it probably averages out fast enough to be an option. But there's no real benefit here. On the other hand you'd be your own pool admin now, which means you'd have a whole new set of responsibilities. You need good and stable pool software, you need to setup merged mining, you need a very good internet connection, etc... Just not worth the trouble.

I agree and I'm not complaining one bit, I like knowing what is coming other that relying on pure luck to solo mine a set number of blocks for the week. I'm sure running a pool and merged mining has its own responsibilities. There's other more important issues cryptx can focus on instead

[freedomno1]

Thanks for the responses was curious since Asicminer solomined their blocks for ages before their hashrate went down so was curious if the Petamine would mine at a similar rate.
Anyways I guess to avoid a 50% attack moving to another large pool is a viable option as well
https://blockchain.info/pools?timespan=24hrs

[spartan82]

Thanks for the responses was curious since Asicminer solomined their blocks for ages before their hashrate went down so was curious if the Petamine would mine at a similar rate.
Anyways I guess to avoid a 50% attack moving to another large pool is a viable option as well
https://blockchain.info/pools?timespan=24hrs

Ghash.io stated quite some time ago that they will never allow themselves to reach 51% of the network so there is no threat there. They did mention being able to spread the miners onto other pools/servers etc if it ever got to that stage

[Tatsumigaoka]

Do we know for sure which pool they are using?

[spartan82]

Do we know for sure which pool they are using?

Yes they are using ghash.io, previously used to be eligius. I think we still keep a rig over there for kicking over out prior payouts. If that makes any sense at all

[_biO_]

Thanks for the responses was curious since Asicminer solomined their blocks for ages before their hashrate went down so was curious if the Petamine would mine at a similar rate.
Anyways I guess to avoid a 50% attack moving to another large pool is a viable option as well
https://blockchain.info/pools?timespan=24hrs

Ghash.io stated quite some time ago that they will never allow themselves to reach 51% of the network so there is no threat there. They did mention being able to spread the miners onto other pools/servers etc if it ever got to that stage

While their intentions may be good, you shouldn't have to trust ghash.io. The only thing you should have to trust in bitcoin is mathematics.

I'm not up to date on the topic, but would p2pool be an alternative? What are the disadvantages compared to ghash (aside from the higher variance)? Could this attract more buyers / good press during a future PO?

edit: Maybe there's really demand here... http://www.reddit.com/r/Bitcoin/comments/27lryc/cexio_needs_compitition_that_runs_on_p2pool/

[cryptocxeq]

Definitely holdin my few shares.

My guess for next week's dividend: 0.00203583

I'm gonna be optimistic and guess 0.00214110

[oma5]

Keep an eye on the miners!
http://www.cryptocoinsnews.com/news/downfall-bitcoin-need-responsible-mining-practices/2014/06/03
http://www.cryptocoinsnews.com/news/downfall-bitcoin-part-2/2014/06/04
http://www.cryptocoinsnews.com/news/downfall-bitcoin-part-3/2014/06/07