ElectricMucus
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Merit: 1057
Marketing manager - GO MP
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September 02, 2011, 08:28:46 PM |
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Threat of force is often more effective than application of force. Someone with proven hashing power can simply ask for some money from shitcoin "early adopters" or else...
damn... I give someone ideas here....
ixcoin is an easier target. They're trying like HELL to get their difficulty dropped, including patching the software to change adjustment algorithms.  That's why I've downloaded their old daemon and mine with my overspilled hashes on it. Not much but everyone who thinks it is a scam should do it  |
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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Vladimir
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September 02, 2011, 08:33:33 PM |
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Threat of force is often more effective than application of force. Someone with proven hashing power can simply ask for some money from shitcoin "early adopters" or else...
damn... I give someone ideas here....
ixcoin is an easier target. They're trying like HELL to get their difficulty dropped, including patching the software to change adjustment algorithms. That's why I've downloaded their old daemon and mine with my overspilled hashes on it. Not much but everyone who thinks it is a scam should do it Could have run local bitcoind and overspill to it. I recently solved a block on such "overspill" and than sold that block to a bitcoin numismatic for a premium. |
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MoonShadow
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Merit: 1007
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September 02, 2011, 08:37:07 PM |
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What does "overspill" mean in this context?
And before it happens, no BitcoinPorn, I don't need a visual image.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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Vladimir
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September 02, 2011, 08:39:52 PM
Last edit: September 02, 2011, 08:53:16 PM by Vladimir |
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some miners have secondary and tertiary (and more) targets, so if primary pool, for example, goes down for a minute, miner would start mining on a backup target which could be you own bitcoind.
Those who hop proportional pools, may have a default pool which they mine with when there is no appropriate victim available. This would be overspill to a default pool than.
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smoothie
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LEALANA Bitcoin Grim Reaper
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September 02, 2011, 08:48:00 PM |
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Well I dropped my full 60 GH/s farm on SC since it started. Solid Coin consistently stays between 1.1 to 2.4 times more profitable to mine than BTC.
You're acting like 95% of the people that are in Bitcoin aren't here for pure unadulterated profit! I have no problem admitting it. I could careless about Bitcoin or any digital currency.
Ixcoin, I0coin, Shitcoin, Schmitcoin or Bitcoin has a ZERO future period unless instant transfer becomes a reality.
I'm just thankfull that Magical Tux has created the "Magic The Gathering of Dumbasses" that will part with USD for it. LOL!!!!
It appears to me that investing in a 60GH/s farm makes you heavily invested in *coins success. So I'd say you care. A lot. There are plenty of technical ways to get around instant transfers (which are being worked on), so that argument doesn't really hold. Also, only a fraction of transactions need to be realtime. A 10 minutes to 1 hour or more delay is acceptable for many ecommerce purposes for example. If it is paid off then no he could care less about the future. |
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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smoothie
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LEALANA Bitcoin Grim Reaper
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September 02, 2011, 08:48:57 PM |
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Solidcoin value on bitparking exchange went from 0.015btc to 0.0045 btc in 24 hours. It is doing a dead cat bounce pattern formation. |
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███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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ThomasV
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September 02, 2011, 08:51:28 PM |
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It is doing a dead cat bounce pattern formation.
I do not know what it is but it sounds tasty |
Electrum: the convenience of a web wallet, without the risks
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ElectricMucus
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Activity: 1666
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Marketing manager - GO MP
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September 02, 2011, 08:51:51 PM |
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Threat of force is often more effective than application of force. Someone with proven hashing power can simply ask for some money from shitcoin "early adopters" or else...
damn... I give someone ideas here....
ixcoin is an easier target. They're trying like HELL to get their difficulty dropped, including patching the software to change adjustment algorithms. That's why I've downloaded their old daemon and mine with my overspilled hashes on it. Not much but everyone who thinks it is a scam should do it Could have run local bitcoind and overspill to it. I recently solved a block on such "overspill" and than sold that block to a bitcoin numismatic for a premium. Hmm I could do that too right, but with my little hashing power that's like winning the lottery twice in a row. But it could even be best if we ignore those forks. They pretty much destroy themself by being only profitable if the resulting exchange value is above 1 which is becoming more and more unlikely over time since the value is decreasing and in order to stay profitable hashing power has to go down. |
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smoothie
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September 02, 2011, 09:01:39 PM |
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So many ignorant comments in here... All I have to say is please you guys atleast do your research... you will be shooting yourself in 6 months when SC isn't dead and the price as quatrippled...
How many solidcoins do you hold currently? |
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███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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JohnDoe
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September 02, 2011, 11:18:10 PM |
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its a problem, when the only reason people use bitcoin, is to make money. bitcoin is a medium of exchange, not stocks.
Yeah, the design of Bitcoin makes it more suitable as a store of value than a medium of exchange because you are discouraged from spending it. This is the reason why it will never become a mainstream currency. Surprised nobody has tried to refute this. I guess we are all in agreement about the inviability of the current economic model and that we should go back to the drawing board then? |
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Vladimir
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September 02, 2011, 11:18:53 PM |
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not the deflation argument again please....
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ctoon6
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September 02, 2011, 11:19:01 PM |
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its a problem, when the only reason people use bitcoin, is to make money. bitcoin is a medium of exchange, not stocks.
Yeah, the design of Bitcoin makes it more suitable as a store of value than a medium of exchange because you are discouraged from spending it. This is the reason why it will never become a mainstream currency. Surprised nobody has tried to refute this. I guess we are all in agreement about the inviability of the current economic model and that we should go back to the drawing board then? you got it dude |
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wolftaur
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September 02, 2011, 11:19:56 PM |
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Solidcoin value on bitparking exchange went from 0.015btc to 0.0045 btc in 24 hours. It is doing a dead cat bounce pattern formation. DEAD CAT?!? WHERE?!?! *GRRRR* |
"MOOOOOOOM! SOME MYTHICAL WOLFBEAST GUY IS MAKING FUN OF ME ON THE INTERNET!!!!"
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wolftaur
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September 02, 2011, 11:20:54 PM |
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not the deflation argument again please....
I'm scared, papa! |
"MOOOOOOOM! SOME MYTHICAL WOLFBEAST GUY IS MAKING FUN OF ME ON THE INTERNET!!!!"
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JohnDoe
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September 02, 2011, 11:22:27 PM |
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not the deflation argument again please....
Why not? Afraid your arguments will not be good enough? |
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Vladimir
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September 02, 2011, 11:33:17 PM |
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not the deflation argument again please....
Why not? Afraid your arguments will not be good enough? You have not been here for long, have you? |
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JohnDoe
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September 03, 2011, 12:02:14 AM |
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You have not been here for long, have you?
Actually I've been here longer than you. So, are you going to make an argument or are you just going to act like a cultist and pretend the economic model does not deserve further discussion? |
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Vladimir
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September 03, 2011, 12:04:37 AM |
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Indeed you are. Well.. go ahead than and do this deflation thing if you want.
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FlipPro
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September 03, 2011, 12:36:12 AM |
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Indeed you are. Well.. go ahead than and do this deflation thing if you want.
This economic model will never work, because we will never get enough people to adopt to it. Trust me I LOVE Bitcoin technology, but we need to start taking some of the economists that come around here a bit more serious... |
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ineededausername
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September 03, 2011, 12:36:51 AM |
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Hello,
I noticed that someone suggested early on in this thread that GPU farming should somehow be eliminated. How are you going to make it impossible to farm with GPUs? Because you can't just "get rid of it" by changing the algorithm. Anything that works by checking millions of hashes a second is much faster on a GPU than on a CPU and there is no working around that. It is impossible to get rid of GPU mining without doing something like just throttling the hash rate of any individual PC, or something, and I think that can be circumvented.
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(BFL)^2 < 0
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