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LPCobris
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March 16, 2014, 01:48:58 AM |
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this chinese cyborg moved to cexio again and after todays 3 hours of "something went wrong" he is spoiling all the sugar for now. take him back, please ))
is it just me or since he left, wp profit meter shows x2 more than it was with him?
So if the "chinese cyborg" is an arm of the gridseed manufacturer, then I wonder if they one day they might look back and realize that it really was not the most profitable move to significantly depress the value of scrypt coins before selling their hardware to customers! It's only been two months since their appearance, but now they will have fewer buyers at the prices they desire, as the coins themselves are only worth half as much. I know that I'm certainly not going to buy any single purpose hardware that becomes completely useless when the coin markets move on to the next algorithm. They will win anyway.. by mining full scale, they are recovering all the invested money, drying out the market and killing any oportunity for the smaller miner... Gridseed might never sell to the miners, but the chinese will get the BTC they ever need, by mining like they are doing now... For me, its sad that pools are acepting that INSANE Processing power from just one guy... I understand the "money on the pocket" idea, with an incredible fee for free... but in the end... It all about two things... a) Greed b) Greed LPC |
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lagster
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Activity: 56
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March 16, 2014, 02:05:45 AM |
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this chinese cyborg moved to cexio again and after todays 3 hours of "something went wrong" he is spoiling all the sugar for now. take him back, please ))
is it just me or since he left, wp profit meter shows x2 more than it was with him?
If I were the "chinese cyborg", I would contact ghash.io to work out a better deal than the standard 25% bonus for my hashpower. Although ghash.io is nearly guaranteed to pay a minimum of 25% bonus rate if they sustain the promotion, for a good deal of the time miners there have shown that they can keep the pool hashpower just below the 25GH/s tipping point from 200% to 125%, and collect 200%. Averaged out over the next five days, ghash.io would perhaps end up paying at a rate of 150%. But if they were to agree to pay the "chinese cyborg" 135%, then they both end up with more money in their pockets, as he alone can guarantee that they don't have to pay out more than 25% bonus. Free markets! they are guaranteed to pay as much as they want. they have changed rules twice already... i think it is obvious that ghio goal was to invite as many miners as they could within this week of their heavenly generousity. and not to pay +100% or +33% or +25% of 16gh or 36gh or 51% of whole network to one "single wallet" just for 7 days of promo and never see him again. |
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LPCobris
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March 16, 2014, 02:06:59 AM |
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this chinese cyborg moved to cexio again and after todays 3 hours of "something went wrong" he is spoiling all the sugar for now. take him back, please ))
is it just me or since he left, wp profit meter shows x2 more than it was with him?
If I were the "chinese cyborg", I would contact ghash.io to work out a better deal than the standard 25% bonus for my hashpower. Although ghash.io is nearly guaranteed to pay a minimum of 25% bonus rate if they sustain the promotion, for a good deal of the time miners there have shown that they can keep the pool hashpower just below the 25GH/s tipping point from 200% to 125%, and collect 200%. Averaged out over the next five days, ghash.io would perhaps end up paying at a rate of 150%. But if they were to agree to pay the "chinese cyborg" 135%, then they both end up with more money in their pockets, as he alone can guarantee that they don't have to pay out more than 25% bonus. Free markets! i think it is obvious that ghio goal was to invite as many miners as they could within this week of their heavenly generousity. and not to pay +100% or +33% or +25% of 16gh or 36gh or 51% of whole network to one "single wallet" just for 7 days of promo and never see him again. If that was true... they should have limited miners to 500mhash max... or addresses... LPC |
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anaxagorasbc
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March 16, 2014, 02:07:32 AM |
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Are these stats right? I know we're only 2 hours into the day it says .009BTC/1mh.
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lagster
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March 16, 2014, 02:18:07 AM
Last edit: March 16, 2014, 02:39:31 AM by lagster |
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this chinese cyborg moved to cexio again and after todays 3 hours of "something went wrong" he is spoiling all the sugar for now. take him back, please ))
is it just me or since he left, wp profit meter shows x2 more than it was with him?
So if the "chinese cyborg" is an arm of the gridseed manufacturer, then I wonder if they one day they might look back and realize that it really was not the most profitable move to significantly depress the value of scrypt coins before selling their hardware to customers! It's only been two months since their appearance, but now they will have fewer buyers at the prices they desire, as the coins themselves are only worth half as much. I know that I'm certainly not going to buy any single purpose hardware that becomes completely useless when the coin markets move on to the next algorithm. just imagine 100500 ph/s of scrypt hardware is already produced and will be sold soon as preorders for lets say 08.14. dont you think they will sell that hardware in two months? and then they will turn them all on. just for 2 more months before delivery just for the fun of making buyers suicide. do you have to send orders to dead people? no? - good. so they will keep at least half of that hardware still mining for them. |
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comeonalready
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March 16, 2014, 02:32:08 AM |
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They will win anyway.. by mining full scale, they are recovering all the invested money, drying out the market and killing any oportunity for the smaller miner...
Gridseed might never sell to the miners, but the chinese will get the BTC they ever need, by mining like they are doing now...
For me, its sad that pools are acepting that INSANE Processing power from just one guy...
I understand the "money on the pocket" idea, with an incredible fee for free... but in the end... It all about two things...
a) Greed
b) Greed
LPC
Yes, they can indeed reap many virtual coins by concentrating so much hash power essentially under the control of one decision maker. But do you have any idea the development and manufacturing costs required to build a scrypt mining asic? In dollars, yuan, or any other currency? No? Then how can you state that they will recover all the invested money? You have no idea of whether that is actually the case. The problem with concentrating so much hash power in the hands of the few, is that by forcing smaller miners out of the market, those miners likely remove themselves from not only mining, but also speculating on coin values as it naturally becomes less interesting for them. The lure of "free" coins, or at least coins created solely for the cost of mining them, is what builds the overall market demand. Lose smaller miners and the demand for coins decreases too, and thus the value of the coins themselves. Though such outcomes are ultimately unavoidable. People flock to where the profit is in the moment, regardless of sustainability. The real trick is to identify the opportunity first. Even the value of tangible items such as diamonds is largely irrational and emotionally based, except the ugly ones used in manufacturing processes. But their value is maintained via monopolistic practices. |
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comeonalready
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March 16, 2014, 02:49:01 AM |
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just imagine 100500 ph/s of scrypt hardware is already produced and will be sold soon as preorders for lets say 08.14. dont you think they will sell that hardware in two months? and then they will turn them all on. just for 2 more months before delivery. ))
Yes, pre-sales of asics are most certainly an interesting twist. Is it ethical for a manufacturer to pre-sell an asic, and then use the first units produced for its own purposes instead of shipping them to the pre-purchaser? Such actions obviously raise many questions. But reviewed within the context of the Chinese manufacturing market, the answers are very often along the lines that profits trump all other considerations. Before the "you're racist" bell ringers start chiming in, perhaps they should use google to learn how common it is for some Chinese manufacturers to run special midnight ghost shifts producing counterfeit versions of foreign trademarked products on the very same manufacturing lines that produce the authorized ones, not to mention production of so many other counterfeit goods. If counterfeiting is so common there, then why wouldn't some Chinese manufacturers use products (such as asics) for their own profits after they have already been paid for by others? It is after all accepted practice there, with a wink and nod by government officials (and probably a payoff too). |
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lagster
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March 16, 2014, 03:00:04 AM |
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Before the "you're racist" bell ringers start chiming in, perhaps they should use google to learn how common it is for some Chinese manufacturers to run special midnight ghost shifts producing counterfeit versions of foreign trademarked products on the very same manufacturing lines that produce the authorized ones, not to mention production of so many other counterfeit goods. If counterfeiting is so are you racist?)) greed has no skin colour. if i even was of rainbow colour and of unicorn race, i would presale something that i could use (for testing purposes of course) for profit. |
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comeonalready
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March 16, 2014, 03:08:21 AM |
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are you racist?)) greed has no skin colour. if i even was of rainbow colour and of unicorn race, i would presale something that i could use (for testing purposes of course) for profit.
And I am sure it would be very profitable for you in the extreme short term. But what will you do when the profits run out and your reputation still persists? Assuming of course, that you don't happen to take advantage of someone who takes it very personally and causes you physical harm out of emotional response? |
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lagster
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March 16, 2014, 03:10:15 AM |
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are you racist?)) greed has no skin colour. if i even was of rainbow colour and of unicorn race, i would presale something that i could use (for testing purposes of course) for profit.
And I am sure it would be very profitable for you in the extreme short term. But what will you do when the profits run out and your reputation still persists? i would create some new brand. obviously. |
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FrankieSaysRelax
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Merit: 10
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March 16, 2014, 03:10:39 AM |
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Before the "you're racist" bell ringers start chiming in, perhaps they should use google to learn how common it is for some Chinese manufacturers to run special midnight ghost shifts producing counterfeit versions of foreign trademarked products on the very same manufacturing lines that produce the authorized ones, not to mention production of so many other counterfeit goods. If counterfeiting is so are you racist?)) greed has no skin colour. if i even was of rainbow colour and of unicorn race, i would presale something that i could use (for testing purposes of course) for profit. Racism has nothing to do with it. That's where these are manufactured and are being run. |
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comeonalready
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March 16, 2014, 03:12:12 AM |
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are you racist?)) greed has no skin colour. if i even was of rainbow colour and of unicorn race, i would presale something that i could use (for testing purposes of course) for profit.
And I am sure it would be very profitable for you in the extreme short term. But what will you do when the profits run out and your reputation still persists? i would create some new brand. obviously. Yes, because in fantasyland, it is easy to create a new brand and be successful with it. Especially when you have such a stellar personal reputation. The true irony is, that because privacy is eroding so rapidly due to the application of technology in our world, a decade from now some bank might just decide to deny your loan because the statement you made here today can be attributed personally to you! |
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lagster
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March 16, 2014, 03:15:17 AM |
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are you racist?)) greed has no skin colour. if i even was of rainbow colour and of unicorn race, i would presale something that i could use (for testing purposes of course) for profit.
And I am sure it would be very profitable for you in the extreme short term. But what will you do when the profits run out and your reputation still persists? i would create some new brand. obviously. Yes, because in fantasyland, it is easy to create a new brand and be successful with it. Especially when you have such a stellar personal reputation. don't you see that they are doing it right now? some family business in gb for starters. and not them directly. next gen will be some family business in us... may be. |
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Rock6.3
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March 16, 2014, 03:15:34 AM |
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Wil, What's up with WaffleStats?
Graphs are frozen for nearly 24 hours?
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comeonalready
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March 16, 2014, 03:21:44 AM |
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don't you see that they are doing it right now? some family business in gb for starters. and not them directly. next gen will be some family business in us... may be.
What you are doing right now is trying to change the topic because you have recognized that you cannot find any way to demonstrate intelligence on the subject we were discussing. It is a good tactic, but will not work with me. I now return this thread back to the topics which should be relevant and interesting to its subscribers. |
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lagster
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March 16, 2014, 03:30:30 AM |
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don't you see that they are doing it right now? some family business in gb for starters. and not them directly. next gen will be some family business in us... may be.
What you are doing right now is trying to change the topic because you have recognized that you cannot find any way to demonstrate intelligence on the subject we were discussing. It is a good tactic, but will not work with me. I now return this thread back to the topics which should be relevant and interesting to its subscribers. ok. as you wish. but i am not intelligent enough to tell for sure how much did my post changed the topic from previous post of yours. ocnsidering wp, is our btc/1mh increases when total hashrate lowers? |
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FrankieSaysRelax
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Activity: 98
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March 16, 2014, 03:31:42 AM |
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don't you see that they are doing it right now? some family business in gb for starters. and not them directly. next gen will be some family business in us... may be.
What you are doing right now is trying to change the topic because you have recognized that you cannot find any way to demonstrate intelligence on the subject we were discussing. It is a good tactic, but will not work with me. I now return this thread back to the topics which should be relevant and interesting to its subscribers. ok. as you wish. but i am not intelligent enough to tell for sure how much did my post changed the topic from previous post of yours. ocnsidering wp, is our btc/1mh increases when total hashrate lowers? It should. |
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comeonalready
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March 16, 2014, 03:34:15 AM |
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ocnsidering wp, is our btc/1mh increases when total hashrate lowers?
It should. Oh, please please please do explain your reasoning for believing that! |
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FrankieSaysRelax
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March 16, 2014, 03:38:44 AM |
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ocnsidering wp, is our btc/1mh increases when total hashrate lowers?
It should. Oh, please please please do explain your reasoning for believing that! The multipool works off taking advantage of arbitrage opportunities. There is a finite # of arbitrage opportunities given that large dumps drop prices. There are also a finite number of buyers (that doesn't increase proportionately to the sellers in this case). The smaller the dumps, the higher the price of the sell. It is marginal but still an increase nonetheless. |
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