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Author Topic: BTC the ironic currency ....?  (Read 2973 times)
r3wt
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October 18, 2013, 07:54:25 AM
 #21

Its nothing to do with being thick skinned, its to do with never being able to discuss anything on a form without people becoming instant dicks.....or arguing about semantics, or people who live on the forum going around like some kind of jumped up forum police! ....not everyone is online 24 hours a day, if its a repeated thread....here's two option's for you 1: dont read it, 2: dont reply! Its that easy!!!!!!
See this has already taken us way off topic.....

well forgive me, to err is human. continue elaborating on your point that is a bit skewed. i agree with the premise that the network has became centralized. how could we avoid it though? isn't it still decentralized to some extent since no one person or entity can dictate the network or reverse transactions?

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October 18, 2013, 07:58:30 AM
 #22

I'm not sure it can be avoided....its almost in built in that as power requirements grow it becomes more clustered together to the point the clusters start merging into one....
Is it even possible to mine all the available coins !??
Can we estimate how much power will be needed to hash at that point !??
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October 18, 2013, 08:03:20 AM
 #23

Is it even possible to mine all the available coins !??
Can we estimate how much power will be needed to hash at that point !??

Dude you need to learn some more about bitcoin, because those are some seriously noob questions.

Speaking of centralisation, why don't people get off of BTC Guild and join some other pools.
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October 18, 2013, 08:19:40 AM
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Its nothing to do with being thick skinned, its to do with never being able to discuss anything on a form without people becoming instant dicks.....

I wonder what the commonality is in these cases?

or arguing about semantics,

Strange. Especially when the whole argument hinges upon the very premise that is being semantically analyzed. It is a mystery.
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October 18, 2013, 08:21:38 AM
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Is there a way to estimate the power needed to mine the last few coins when we get there....
needed != used

The power needed to mine the last few coins isn't any different from the power needed to mine the first few coins,
the power actually used to mine the last few coins though, that's another story.

Will the network be in the exahash range?
Who knows, I don't really care, hopefully it's high enough to keep attackers away, that's all that matters.
r3wt
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October 18, 2013, 08:29:32 AM
 #26

needed != used

LoL. you're not in nano editor anymore. you can talk in english

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October 18, 2013, 08:59:32 AM
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2: requiring so much power that its becoming almost impossible to reasonably mine at your home, due to power usage, heat and noise !
This year I just installed heated floors in the house.  Mmmmmm!  Feels so nice.  Then it occurred to me - why didn't I just put 100 miners in the basement!!!  I would have earned some money and had the same damn warm floors!!  Holy crap - that is a great new company.  Floor heaters which serve as bitcoin miners at the same time.  I am still working out what to do with these in the summer.
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October 18, 2013, 09:20:42 AM
 #28

2: requiring so much power that its becoming almost impossible to reasonably mine at your home, due to power usage, heat and noise !
This year I just installed heated floors in the house.  Mmmmmm!  Feels so nice.  Then it occurred to me - why didn't I just put 100 miners in the basement!!!  I would have earned some money and had the same damn warm floors!!  Holy crap - that is a great new company.  Floor heaters which serve as bitcoin miners at the same time.  I am still working out what to do with these in the summer.

lay pipes to siberia. sell the heat.
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October 18, 2013, 09:22:21 AM
 #29

Is it even possible to mine all the available coins !??
Can we estimate how much power will be needed to hash at that point !??

Dude you need to learn some more about bitcoin, because those are some seriously noob questions.

God you forum folk are so stereotypical..... I was operating under the premise that a forum is were someone one would approch to decuss ideas and gain knowledge from people would might be in the know.....instead it seems to be a place to gain iditoc retorts from pseudo intellectuals.....
r3wt
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October 18, 2013, 09:26:59 AM
 #30

OP: learn to use the search function. this subject is brought up ad nauseum 2 or 3 times a month.

/thread

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onis_uk
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October 18, 2013, 09:27:17 AM
 #31

Its nothing to do with being thick skinned, its to do with never being able to discuss anything on a form without people becoming instant dicks.....

I wonder what the commonality is in these cases?

or arguing about semantics,

Strange. Especially when the whole argument hinges upon the very premise that is being semantically analyzed. It is a mystery.
Nice try but not quite there....my whole argument actually  hinges on the fact that the network is becoming more centralised. I think we have already clearly established I wildly over estimated with the word "millions" ...an estimate it was never the less.... But if you want to keep going over the same points that's fine...
onis_uk
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October 18, 2013, 09:29:14 AM
 #32

OP: learn to use the search function. this subject is brought up ad nauseum 2 or 3 times a month.

/thread

I refer you to my earlier post....if it bothers you ......don't read it ....quite simple really ;o)
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October 18, 2013, 09:43:15 AM
 #33

millions of people with free electricity (small but free, like USB stick) will be the backbone of bitcoin network, any single entity operating a large farm will go broke

onis_uk
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October 18, 2013, 11:04:00 AM
 #34

Oooooooh don't use the word million......we've been there already !
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October 18, 2013, 05:30:49 PM
 #35

Quote
BTC the ironic currency ....?

That explains the popularity of Bitcoin in San Francisco. Ironic Hipsters.
onis_uk
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October 18, 2013, 07:00:02 PM
 #36

Don't assume things and then state them as fact.

Where exactly did I state them as fact ..............? once again you people read what you want to read ! .... so lame
notme
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October 18, 2013, 09:08:45 PM
 #37

Read OP.... this again.... read further... oh wow, OP is childish.  Every counterpoint is a fucking ad hominem.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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October 18, 2013, 09:13:31 PM
 #38

Don't assume things and then state them as fact.

Where exactly did I state them as fact ..............? once again you people read what you want to read ! .... so lame
Here:
I was thinking today, with the way the total hashing power of the network is growing exponentially, what was once a "decentralised" currency is now becoming ever more centralised....hence the irony...!
... the irony...

Why is the network not decentralized now? Anyone can buy an ASIC miner, thousands of such units will replace thousands of GPUs.

Is it the price? So what, more people know about bitcoin, existing miners might be richer, more chances of bigger budgets to keep the same individual number of miners.

Is it the co-location in mining farms? Each miner can be pointed to a different pool if needed, some miners are even split across different beneficiaries, each having this option.

Is it the mining pools? Hasn't this been the case for like always? Deepbit was the scare, now it's btcguild. If you're worried, promote a free fee p2pool node.

So why exactly is bitcoin centralized? Is it because you can't afford an ASIC miner?
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