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Author Topic: Fairbrix re-re-launch with mining pool  (Read 958 times)
norulezapply
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October 07, 2011, 07:16:45 PM
 #1

This, please?

I like the idea of TeneBrix, but premining 7million coins is hilarious.

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Lolcust
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October 07, 2011, 07:20:15 PM
 #2

Fairbrix has already relaunched.

Mining pool is a question of finding a pool-op who is interested ( There was a thread about that recently), or making your own (all the soft is on github).

The "how much should one pre-mine" discussion is pretty silly and is growing stale.

Every conceivable argument was already deployed.

Even the Invisible Hand of Market has already commented - TBX price has just risen to 0.01+ BTC

People who sold off at tripple-zeros "coz teh lolcuzd premined" are likely just a little bit sorry by now...

P.S.:
Why don't you want a transaction anonymizer with a buffers several millions strong ?

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norulezapply
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October 07, 2011, 07:36:35 PM
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Mining pool is a question of finding a pool-op who is interested ( There was a thread about that recently), or making your own (all the soft is on github).
I would run one but my server isn't powerful enough I believe. Tried running a NMC one before but it struggled..

Quote
The "how much should one pre-mine" discussion is pretty silly and is growing stale.
The best answer is "not 7 million". Sure, mine some for bounties, but that is excessive. That's just my opinion. The price doesn't make a difference when you have an insane amount of TBX saved up and can manipulate the price in a few seconds.

Quote
Why don't you want a transaction anonymizer with a buffers several millions strong ?
Because it's centralized. And that is a point of failure.

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October 07, 2011, 07:43:38 PM
 #4

I'm not selling any of my 1.25 million TBX till the buy orders can support a huge sell off...

Wait, did you forget that you are me and I am you?

You have 7.7 mils, remember ?

 Roll Eyes

The best answer is "not 7 million". Sure, mine some for bounties, but that is excessive. That's just my opinion. The price doesn't make a difference when you have an insane amount of TBX saved up and can manipulate the price in a few seconds.

For the love of robot gods, BTC is chock-full of people with stashes that, if sold off, can drop the price to "shit-pies" before you can spell "shit"

And USD can be printed by US at a whim.

Call me when BTC and USD (also gold which is subject to some srs hoarding behavior) implode, mkay?

Because it's centralized. And that is a point of failure.

Mt Gox & deepbit are so much bigger than their competitors that they are SPOFs too.

Did you already sell all your bitcoins ? You better hurry.

Also, I am eagerly waiting on your suggestions for a decentralized cryptocurrency anonymizer architecture, preferably with at least pseudocode snippets.

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norulezapply
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October 07, 2011, 08:35:22 PM
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For the love of robot gods, BTC is chock-full of people with stashes that, if sold off, can drop the price to "shit-pies" before you can spell "shit"

And USD can be printed by US at a whim.

Call me when BTC and USD (also gold which is subject to some srs hoarding behavior) implode, mkay?

Yes, but the difference is that is called early adoption, and not "lolololol let's h4x myself 99999999 coins".
And the US government has no incentive to print off a fuck ton of money for one single person.

Quote
Mt Gox & deepbit are so much bigger than their competitors that they are SPOFs too.
This is true. But if you're smart you won't keep your coins either of those for any amount of time.

Quote
Also, I am eagerly waiting on your suggestions for a decentralized cryptocurrency anonymizer architecture, preferably with at least pseudocode snippets.
We don't need this architecture anyway. If someone has half a brain, they can obtain coins with a high degree of accuracy already, without help from a 3rd party.

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October 07, 2011, 08:48:50 PM
 #6



Yes, but the difference is that is called early adoption, and not "lolololol let's h4x myself 99999999 coins".
And the US government has no incentive to print off a fuck ton of money for one single person.

1) Mode of aquisition is, from market perspective, irrelevant. Whether I got the coins from a magical fairy or by using a one-time early deployment opportunity, all market can care about is what happens to those coins, and as far as they aren't sold off/traded, market doesn't give a damn (you can look at it not giving a damn in real time now). "But that's first adoption, not X" is an argument from some sort of ethics theory, not economics.

2) I don't have an incentive to sell off - in fact, I have incentive to get damn laundry up ASAP.

3) What about people who inherit large gold stashes, is that "not fair" Roll Eyes

Gosh, "sportslike fairness ethics" is like some alienthink Sad

This is true. But if you're smart you won't keep your coins either of those for any amount of time.

Oh for the love of robots, if deepbit "dies", bitcoin goes into coma and the market dies.

Won't matter that your BTC were on a thumbie in a safe.
We don't need this architecture anyway. If someone has half a brain, they can obtain coins with a high degree of accuracy already, without help from a 3rd party.

Language.dll error

Can not parse language.

So what do you suggest to launder transactions through, exchanges ?  Roll Eyes

Anyways, everything worth saying was said already in the main thread. If you have sportslike fairness ethics, I have nothing to say beyond "Sorry, didn't mean to offend you" since I absolutely can't grok your mode of thought.

If you believe that more potent transaction anonymizers are not needed/desirable, let's let the market decide  Wink.

If you think that mere existence of coins somewhere in a secluded place aware from trading hubs shall affect the market through a magical action-at-a-distance, well... market isn't giving a damn right now, and you can gaze upon its uncaring attitude. If you predict that at some point it will, well... that is at least a testable prediction, so we shall see...

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norulezapply
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October 07, 2011, 09:04:19 PM
 #7

Haha.
Your arguments are very thin my friend.

Deepbit going down won't affect bitcoin at all, people will just move to other pools. The market price will probably drop a bit, then correct itself after hash rate recovery. If there was a major coin dump on the market, it'd have a very hard time correcting from that.

I don't launder, as there's no need for such a service.
Anyone who believes that your amount of premined coins is not going to affect the market in any way is quite frankly an idiot. If the coins aren't on the market for sale currently, they're still affecting people's trust and evaluation of the network, which has a direct affect on prices.

On a side note, your attitude towards the project is enough to cause it's failure alone in my opinion. Sure, you have a decent infrastructure growing so far, but poorly executed.

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Lolcust
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October 07, 2011, 09:19:05 PM
 #8

Haha.
Your arguments are very thin my friend.

Deepbit going down won't affect bitcoin at all, people will just move to other pools. The market price will probably drop a bit, then correct itself after hash rate recovery. If there was a major coin dump on the market, it'd have a very hard time correcting from that.

Well, I'm not entirely as certain as you are in capacity of the system to quickly recover from loss of such a huge pool (no offense to its competitors, I am entirely unconvinced they can "handle" such an influx of "homeless" miners)

I think we can agree that MtGox getting its wallets gutted would be a fairly irrecoverable disaster since you seem to fear coin dumps more than hashrate drops (people waiting for confirmations tend to be concerned with hashrate drops a lot, tho, and non-ideologically driven merchants are quite likely to say "screw this thing, I'm outta this" if the hashrate drops hard enough to make waiting for confirms even more hellish)


I don't launder, as there's no need for such a service.

Not only I, but several bitcoin laundries kindly disagree.

Anyone who believes that your amount of premined coins is not going to affect the market in any way is quite frankly an idiot. If the coins aren't on the market for sale currently, they're still affecting people's trust and evaluation of the network, which has a direct affect on prices.

Oh boy, is it some sort of Efficient Market Hypothesis related reasoning, ain't it ?

People don't give a crap about bitcoin's significant de-facto centralization and apparent existence of stashes large enough to shatter the market.

People apparently speculate TBX quite happily with full awareness of all ins and outs (the chat has ensured that nicely)

Again, I like that you make a sorta-falsifiable sorta-prediction (it would be much better if you were more specific, though), that is awesome and I respect that.

The market, in its vast wisdom, shall decide whether you are right or not Smiley

On a side note, your attitude towards the project is enough to cause it's failure alone in my opinion. Sure, you have a decent infrastructure growing so far, but poorly executed.

Hm, well, I don't mind constructive criticism, though I prefer it to have a...less vague nature.

Would you please kindly go into more details?

You can PM if criticizing strangers online makes you shy.

Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse Wink

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