CPU Mining - Who will emerge Dominant?

[Bitcoin Oz]

We'll see or since you now obviously have a testnet, lets find out who's talking shit.

Yes we will all see. Just like you destroyed the 1.10 testnet that didn't exist. Just like taking solidcoin off google rankings. LMAO, deliver something kid. 2.0 is waiting for you.

Put it on the table, let get with it.

Waiting on you. LOL

Chargin' ma NVS 295 LOL 

Things that make you shutter.

[bulanula]

It's fairly obvious all these other chains are dead ends (including BTC in my mind), no real solutions, minor additions, no business support and copycat (poorly too) behaviour. The lolcust chains are premined to hell, anyone supporting them is essentially supporting lolcust's and artforz project to be rich (which is the entire aim of those chains). All chains besides SC2.0 are vulnerable to double spend attacks, you could wake up tomorrow and have nothing. If you want to see the future and what real development looks like

Indeed, talk about 7.7 million premined coins taking the rest of us 3 years to get to the same level LOL what a joke. Waiting to dump all my TBX for Solidcoins 2 when it comes out. Too bad Tenecrap is the only CPU miner working now and Failbrix got attacked by lolcusts/artforz so that tenecrap stays on top.

[Lolcust]

Indeed, talk about 7.7 million premined coins taking the rest of us 3 years to get to the same level

Talk about a tax "phun-d" that will never, ever shrink in its relative market power and unaudited reimbursement, lol what a joke

Too bad Tenecrap is the only CPU miner working now and Failbrix got attacked by lolcusts/artforz so that tenecrap stays on top.

Now given that I have in fact assisted with creation of FBX, that's one hell of a claim, boyo.

Care to back it up with anything ? Or would you rather proceed spamming outright libel ?

[CoinHunter]

Indeed, talk about 7.7 million premined coins taking the rest of us 3 years to get to the same level LOL what a joke. Waiting to dump all my TBX for Solidcoins 2 when it comes out. Too bad Tenecrap is the only CPU miner working now and Failbrix got attacked by lolcusts/artforz so that tenecrap stays on top.

Yep, lolcust tried to hide the fact yet again that there were 8 million premined coins. Trying to pull that sort of deception twice is rather ludicrous and is why the price is crashing on the exchange even though artforz is blowing 200BTC trying to keep it steady. These amateurs don't understand what it takes to release something successful.

[Lolcust]

These amateurs don't understand what it takes to release something successful.

Not stealing other people's electricity and hardware ? 

[phelix]

Yeap Solidcoin was the earliest with the idea, hopefully theirs won't be so difficult.

No matter what you say SC will always NOT be the first and will simply be an iteration of Tenebrix.

GPU hostility or better known as parallel computing hostility was tried and failed awhile back by cryptographers trying to come up with a hashing solution that couldn't be cracked by the likes of GPU's and FPGA's. Same principle applies here.

Works for me and rather than get greedy, I'll simply drop a single 5770 on it and rack up hella lot of coin. A single 5770 will compute like 30 Core i7-2600's 

care to elaborate?

lolcust, artforz, your thoughts about this claim?

[bulanula]

Yeap Solidcoin was the earliest with the idea, hopefully theirs won't be so difficult.

No matter what you say SC will always NOT be the first and will simply be an iteration of Tenebrix.

GPU hostility or better known as parallel computing hostility was tried and failed awhile back by cryptographers trying to come up with a hashing solution that couldn't be cracked by the likes of GPU's and FPGA's. Same principle applies here.

Works for me and rather than get greedy, I'll simply drop a single 5770 on it and rack up hella lot of coin. A single 5770 will compute like 30 Core i7-2600's 

care to elaborate?

lolcust, artforz, your thoughts about this claim?

I too am very interested in this claim. Mr. Maddox Express is claiming that the IE9 hardware accelerator will make GPU mining possible on the likes of Fairbrix, Tenebrix and Solidcoin 2 !? Is this true !?

[ArtForz]

Yeap Solidcoin was the earliest with the idea, hopefully theirs won't be so difficult.

No matter what you say SC will always NOT be the first and will simply be an iteration of Tenebrix.

GPU hostility or better known as parallel computing hostility was tried and failed awhile back by cryptographers trying to come up with a hashing solution that couldn't be cracked by the likes of GPU's and FPGA's. Same principle applies here.

Works for me and rather than get greedy, I'll simply drop a single 5770 on it and rack up hella lot of coin. A single 5770 will compute like 30 Core i7-2600's 

care to elaborate?

lolcust, artforz, your thoughts about this claim?

I honestly have zero clue what he's talking about. But I have the slight feeling if it were true it'd be HUGE news in the cryptographic community...

[bulanula]

Yeap Solidcoin was the earliest with the idea, hopefully theirs won't be so difficult.

No matter what you say SC will always NOT be the first and will simply be an iteration of Tenebrix.

GPU hostility or better known as parallel computing hostility was tried and failed awhile back by cryptographers trying to come up with a hashing solution that couldn't be cracked by the likes of GPU's and FPGA's. Same principle applies here.

Works for me and rather than get greedy, I'll simply drop a single 5770 on it and rack up hella lot of coin. A single 5770 will compute like 30 Core i7-2600's 

care to elaborate?

lolcust, artforz, your thoughts about this claim?

I honestly have zero clue what he's talking about. But I have the slight feeling if it were true it'd be HUGE news in the cryptographic community...

Hey, maybe HE makes the news in the cryptographic community  AND he just did not get to writing the article yet LOL

[worldinacoin]

If the hardware accelerator case is true, then there won't be much difference between CPU and GPU mining and we will be back to square 1.

[sd]

CPU Mining - Who will emerge Dominant?

Botnets, obviously.

As soon as any of these networks work out more profitable than mining BitCoin the herders will jump on them with many thousands of nodes. Anyone who actually pays for their own equipment or electricity will have no chance of profitable mining.

[ArtForz]

CPU Mining - Who will emerge Dominant?

Botnets, obviously.

As soon as any of these networks work out more profitable than mining BitCoin the herders will jump on them with many thousands of nodes. Anyone who actually pays for their own equipment or electricity will have no chance of profitable mining.

Thats the weird thing, currently it'd be way more profitable to cpu-mine tbx than btc, yet no decent botnet in sight.
At current btc/tbx difficulty ratio, a botnet cpu-mining tbx instead of cpu-mining btc "loses" somewhere about 0.00005 btc/tbx
Eyeballed scale factor... cpus are about 1000 times faster at btc hashing than tbx hashing...
tbxdiff / btcdiff * roughhashscalefactor * blockrewardfactor
0.042 / 1.69M * 1000 * 2 ... around 0.00005
*checks* btc-e ... best bid: 0.00158btc/tbx.
so only like 30 times more profitable to cpu-mine tbx currently...

[Lolcust]

Guys, could someone repost that ^^^ to some 1337 h4x0r forum ?

[grod]

CPU Mining - Who will emerge Dominant?

Botnets, obviously.

As soon as any of these networks work out more profitable than mining BitCoin the herders will jump on them with many thousands of nodes. Anyone who actually pays for their own equipment or electricity will have no chance of profitable mining.

Thats the weird thing, currently it'd be way more profitable to cpu-mine tbx than btc, yet no decent botnet in sight.
At current btc/tbx difficulty ratio, a botnet cpu-mining tbx instead of cpu-mining btc "loses" somewhere about 0.00005 btc/tbx
Eyeballed scale factor... cpus are about 1000 times faster at btc hashing than tbx hashing...
tbxdiff / btcdiff * roughhashscalefactor * blockrewardfactor
0.042 / 1.69M * 1000 * 2 ... around 0.00005
*checks* btc-e ... best bid: 0.00158btc/tbx.
so only like 30 times more profitable to cpu-mine tbx currently...

And it's approximately 2 million times harder to sell any number of TBX with a grand total of $1500 up for grabs on a tiny exchange.  While a whole 325 BTC is on the line 2/3 of that is at .00001 BTC/TBX, not the one or two BTC worth at .0015.  Meanwhile, the lion's share of all TBX ever mined (as opposed to pre-mined) is up on asks.  60k mined so far, roughly, and 40k up on asks.  Woof.

TL;DR: there's not enough money in TBX to bother developing and deploying a botnet to mine TBX.  And the odds of that pyramid launching into orbit with a 6 year (not 3, it's 3 years at 50 coins/block) premined payload are basically zero.  Try again with a less blatant display of greed.

[Lolcust]

If I had 500 000, I would still have the capacity to gut the market, but no capacity to take a stab at Really Huge Laundry.

Anyways, I distinctly recall you evaded question as to whether there exists a size of "creator stash" you won't be upset by. Are you one of them weird "sports competition ethics" people, honestly ?

[bulanula]

CPU Mining - Who will emerge Dominant?

Botnets, obviously.

As soon as any of these networks work out more profitable than mining BitCoin the herders will jump on them with many thousands of nodes. Anyone who actually pays for their own equipment or electricity will have no chance of profitable mining.

Thats the weird thing, currently it'd be way more profitable to cpu-mine tbx than btc, yet no decent botnet in sight.
At current btc/tbx difficulty ratio, a botnet cpu-mining tbx instead of cpu-mining btc "loses" somewhere about 0.00005 btc/tbx
Eyeballed scale factor... cpus are about 1000 times faster at btc hashing than tbx hashing...
tbxdiff / btcdiff * roughhashscalefactor * blockrewardfactor
0.042 / 1.69M * 1000 * 2 ... around 0.00005
*checks* btc-e ... best bid: 0.00158btc/tbx.
so only like 30 times more profitable to cpu-mine tbx currently...

And it's approximately 2 million times harder to sell any number of TBX with a grand total of $1500 up for grabs on a tiny exchange.  While a whole 325 BTC is on the line 2/3 of that is at .00001 BTC/TBX, not the one or two BTC worth at .0015.  Meanwhile, the lion's share of all TBX ever mined (as opposed to pre-mined) is up on asks.  60k mined so far, roughly, and 40k up on asks.  Woof.

TL;DR: there's not enough money in TBX to bother developing and deploying a botnet to mine TBX.  And the odds of that pyramid launching into orbit with a 6 year (not 3, it's 3 years at 50 coins/block) premined payload are basically zero.  Try again with a less blatant display of greed.

I for one am holding on to these TBX. If this money laundering stuff is launched then expect the value to skyrocket etc. as people putting in millions etc. ! If they fail then what I have to lose just a couple of days burning in my CPU etc. but if they become $1 due to laundery then huge profit for me

[grod]

If I had 500 000, I would still have the capacity to gut the market, but no capacity to take a stab at Really Huge Laundry.

Anyways, I distinctly recall you evaded question as to whether there exists a size of "creator stash" you won't be upset by. Are you one of them weird "sports competition ethics" people, honestly ?

I did not evade it, I answered it in a relative way.  To each their own.  For you, six years of premine seemed like a sensible, realistic number.  I'd have opted for 24 years, since clearly this is just a cash grab from the braindamaged and/or ignorant.  For others, like the Fairbrix guy, zero was the right number.

Satoshi's 1.5M coins is a number I'm not offended by.  Because of the way he did it -- opening up the network to anyone who wanted to participate.  Plus he came up with something revolutionary.

For someone forking bitcoin community supplied software and just hacking it a bit any amount of pre-mine is offensive to me.  The amount of compensation you are expecting per hour is staggering relative to the value provided.

[grod]

I for one am holding on to these TBX. If this money laundering stuff is launched then expect the value to skyrocket etc. as people putting in millions etc. ! If they fail then what I have to lose just a couple of days burning in my CPU etc. but if they become $1 due to laundery then huge profit for me

May I suggest an optimization?  Dump them now while the value is high, pick them up for a fraction of the price between now and whenever the millions flood in for "laundry."

Me, I'm a bit more realistic.  I expect anyone with a large amount of money to launder already has current solutions to that problem.  Wachovia, etc.  They're set.  The little guys are more than fine with bitcoin and existing exchanges.

[Lolcust]

Technically, at every moment in history, established market agents have had "established solutions" - otherwise they would have flopped in an eyeblink. That has never prevented creation of new, more sophisticated solutions, and their adoption.

[bulanula]

I for one am holding on to these TBX. If this money laundering stuff is launched then expect the value to skyrocket etc. as people putting in millions etc. ! If they fail then what I have to lose just a couple of days burning in my CPU etc. but if they become $1 due to laundery then huge profit for me

May I suggest an optimization?  Dump them now while the value is high, pick them up for a fraction of the price between now and whenever the millions flood in for "laundry."

Me, I'm a bit more realistic.  I expect anyone with a large amount of money to launder already has current solutions to that problem.  Wachovia, etc.  They're set.  The little guys are more than fine with bitcoin and existing exchanges.

Sound advice my friend. Very nice advice

But what do you think about Solidcoin 2