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BinaryMage
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January 21, 2012, 04:03:28 AM |
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How are the invites going? Waiting expectantly for mine...  |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Transisto
Donator
Legendary
 Offline
Activity: 1731
Merit: 1008
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January 21, 2012, 04:17:19 AM |
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How are the invites going? Waiting expectantly for mine... You're not missing much, as there is no way to purchase mining power, yet. |
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pirateat40 (OP)
Avast Ye!
Sr. Member
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Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 21, 2012, 04:18:03 AM |
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How are the invites going? Waiting expectantly for mine... You're not missing much, as there is no way to purchase mining power, yet. Update is happening as we speak. |
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nmat
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January 21, 2012, 05:09:41 AM |
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I have read the entire thread. most of it is miners saying they want to join and others alerting you about possible security issues.
I am new to the whole Bitcoin business and simply asking for an explanation about how this service can be beneficial to either side?
Basically I am asking for examples of "use cases" for the service you provide.
I would say that most of the time is for testing purposes. For example, if you are setting up a new pool, you need hashing power to test it. http://bitcoin.stackexchange.com/questions/2269/why-would-someone-rent-hashing-power |
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Costia
Newbie
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Activity: 28
Merit: 0
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January 21, 2012, 05:16:57 AM |
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I have read the entire thread. most of it is miners saying they want to join and others alerting you about possible security issues.
I am new to the whole Bitcoin business and simply asking for an explanation about how this service can be beneficial to either side?
Basically I am asking for examples of "use cases" for the service you provide.
I would say that most of the time is for testing purposes. For example, if you are setting up a new pool, you need hashing power to test it. http://bitcoin.stackexchange.com/questions/2269/why-would-someone-rent-hashing-powerThanks, that's what i was looking for. though some uses there assume buying hash power for USD rather than Bitcoin (which would put the service in danger of losing money if the exchange rate goes up, since he intends to pay the miners in BTC ) hmm. this service can be really useful if both sides are paid in usd |
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bitfoo
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Sr. Member
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Activity: 289
Merit: 250
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January 21, 2012, 05:24:30 AM |
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I would say that most of the time is for testing purposes. For example, if you are setting up a new pool, you need hashing power to test it.
But gpumax will only direct hashing power to "trusted" pools, if I understand correctly, making it useless for this purpose. |
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 21, 2012, 05:28:18 AM |
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I would say that most of the time is for testing purposes. For example, if you are setting up a new pool, you need hashing power to test it.
But gpumax will only direct hashing power to "trusted" pools, if I understand correctly, making it useless for this purpose. That has changed, we have systems in place now to verify your pool is working on legit work. It's been a long day, I'll send out a site update post and more information in the morning when I've been refreshed. |
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Costia
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Activity: 28
Merit: 0
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January 21, 2012, 06:34:23 AM |
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an interesting idea would be to pay for the hash power - and then not use to reduce the difficulty of the next blocks
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BinaryMage
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January 21, 2012, 06:39:22 AM |
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an interesting idea would be to pay for the hash power - and then not use to reduce the difficulty of the next blocks
Interesting, but probably not profitable... |
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Costia
Newbie
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Activity: 28
Merit: 0
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January 21, 2012, 11:13:33 AM |
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so to maximize profits large pools can do blockchain-hopping every 2 weeks?
i guess to answer this i will need a better understanding of how the difficulty is set...
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jamesg
VIP
Legendary
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Activity: 1358
Merit: 1000
AKA: gigavps
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January 21, 2012, 07:59:16 PM |
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so to maximize profits large pools can do blockchain-hopping every 2 weeks?
i guess to answer this i will need a better understanding of how the difficulty is set...
There is only 1 block chain. You would point your hashing power to gpumax to make MORE than PPS rates when mining. You might want to purchase hashing power if you feel you are going to be lucky or you are running your own pool / pool software to test things out. You might want to rent hashing power for other reasons too. It would be wise of you to read more and post less until you have a better grasp of what is going on. It took me months, but I'm dumb so it might not take you as long. |
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imsaguy
General failure and former
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Hero Member
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Activity: 574
Merit: 500
Don't send me a pm unless you gpg encrypt it.
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January 21, 2012, 08:15:17 PM |
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Costia
Newbie
Offline
Activity: 28
Merit: 0
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January 21, 2012, 09:38:49 PM |
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so to maximize profits large pools can do blockchain-hopping every 2 weeks?
i guess to answer this i will need a better understanding of how the difficulty is set...
There is only 1 block chain. You would point your hashing power to gpumax to make MORE than PPS rates when mining. You might want to purchase hashing power if you feel you are going to be lucky or you are running your own pool / pool software to test things out. You might want to rent hashing power for other reasons too. It would be wise of you to read more and post less until you have a better grasp of what is going on. It took me months, but I'm dumb so it might not take you as long. there are at least 5 block chains of different crypto currencies |
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 21, 2012, 09:39:49 PM |
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so to maximize profits large pools can do blockchain-hopping every 2 weeks?
i guess to answer this i will need a better understanding of how the difficulty is set...
There is only 1 block chain. You would point your hashing power to gpumax to make MORE than PPS rates when mining. You might want to purchase hashing power if you feel you are going to be lucky or you are running your own pool / pool software to test things out. You might want to rent hashing power for other reasons too. It would be wise of you to read more and post less until you have a better grasp of what is going on. It took me months, but I'm dumb so it might not take you as long. there are at least 5 block chains of different crypto currencies We only support Bitcoin mining. |
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Costia
Newbie
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Activity: 28
Merit: 0
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January 21, 2012, 09:52:42 PM |
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i guess i have been a bit off topic then  good luck with the service sounds interesting |
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The LT
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January 22, 2012, 02:33:50 AM |
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Got the invite to GPUMAX, but trying to input the password on the page isn't successful. Tried in all browsers...  Sad, sad day... |
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 22, 2012, 02:37:52 AM |
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Got the invite to GPUMAX, but trying to input the password on the page isn't successful. Tried in all browsers... Sad, sad day... Hey, Sorry about that, we had one other user have an issue with setting a password but we have not been able to reproduce the issue. I'll have your password reset for you. Please send me your email in PM. Thanks, |
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The LT
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January 22, 2012, 02:43:57 AM |
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Got the invite to GPUMAX, but trying to input the password on the page isn't successful. Tried in all browsers... Sad, sad day... Hey, Sorry about that, we had one other user have an issue with setting a password but we have not been able to reproduce the issue. I'll have your password reset for you. Please send me your email in PM. Thanks, Sent a PM! That was lightning-fast!  |
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jamesg
VIP
Legendary
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Activity: 1358
Merit: 1000
AKA: gigavps
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January 22, 2012, 02:49:43 AM |
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Never underestimate a pirate! |
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 22, 2012, 03:01:33 AM |
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Never underestimate a pirate! Arrrrrr!!!! |
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