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Author Topic: Sign the BITCOIN RESTORATION PETITION!!!!!!  (Read 2500 times)
wuzamarine (OP)
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July 03, 2014, 05:25:39 PM
 #1

How much money have YOU lost from con artist ASIC companies??
Me, $32k and counting.
It's been an expensive lesson to realize the $ was in trading but fuck me.
ASIC is just fucking st00pid, there is zero need for it, 90% of all hashes get counted and then dumped.
It provides zero additional security.

Send the fucking engineers back to the drawing board and switch the protocol restoring the technology back to cpu and gpu.
FUCK YOU ASIC!!!

and then switch it again in a year.

DRK has forked twice on purpose with zero issues, it's a signed fork.

Bitcoin is a community product, restore it back to the community.
It has zero purpose being industrialized.

http://www.reddit.com/r/Bitcoin/comments/29r2cq/sign_the_restoration_of_bitcoin_petition_here/
wuzamarine (OP)
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July 03, 2014, 05:46:38 PM
 #2

The only hashes that get used are the ones needed for the blockchain. The protocol actually generates a new hash for the chain appending, if you ever looked at it.
The hashes are't used, they are just counted as shares.
That's just the way hashing works.
That math function equals something.

demo here  ->  https://brainwallet.github.io/

the signed hash used equals part of the guy before him. Then it's signed.
Melbustus
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July 03, 2014, 05:48:06 PM
 #3

OP completely misunderstands proof-of-work security, as well as the implications of a hard fork.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
wuzamarine (OP)
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July 03, 2014, 05:53:18 PM
 #4

OP completely misunderstands proof-of-work security, as well as the implications of a hard fork.

How? Kindly explain.
Beliathon
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July 03, 2014, 06:04:33 PM
 #5

How much money have YOU lost from con artist ASIC companies??
$0

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
haploid23
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July 03, 2014, 06:47:17 PM
 #6

Just your typical bro that's mad because he lost money. You should know it's a gamble, and you lost fair and square. Nothing to cry about. I bet if you made a bunch of profit, this thread wouldn't exist.

wuzamarine (OP)
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July 03, 2014, 06:57:09 PM
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Just your typical bro that's mad because he lost money. You should know it's a gamble, and you lost fair and square. Nothing to cry about. I bet if you made a bunch of profit, this thread wouldn't exist.

Nothing about ASIC is valid for coins.
Mrrr
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July 03, 2014, 07:04:45 PM
 #8

Yes. Lets keep it GPU only and concentrate all mining in Washington USA (cheapest power afaik), or outsource it to Russian Botnets (CPU).

The development of ASICs is a natural phenomenon. Crooks in an unregulated market are also a natural phenomenon.

You spent 32k on magic money making machines and got conned.

I feel your pain, but changing the protocol is not going to keep the crooks away.


burp...
justusranvier
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July 03, 2014, 07:08:23 PM
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http://bastiat.org/en/petition.html
wuzamarine (OP)
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July 03, 2014, 07:08:40 PM
 #10

Yes. Lets keep it GPU only and concentrate all mining in Washington USA (cheapest power afaik), or outsource it to Russian Botnets (CPU).

The development of ASICs is a natural phenomenon. Crooks in an unregulated market are also a natural phenomenon.

You spent 32k on magic money making machines and got conned.

I feel your pain, but changing the protocol is not going to keep the crooks away.



It will totally fuck their operation up.
wuzamarine (OP)
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July 03, 2014, 07:12:44 PM
 #11

Yes. Lets keep it GPU only and concentrate all mining in Washington USA (cheapest power afaik), or outsource it to Russian Botnets (CPU).

The development of ASICs is a natural phenomenon. Crooks in an unregulated market are also a natural phenomenon.

You spent 32k on magic money making machines and got conned.

I feel your pain, but changing the protocol is not going to keep the crooks away.



It will totally fuck their operation up.

Without effecting the coin.
rarkenin
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July 03, 2014, 07:19:00 PM
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Without effecting the coin.

First of all, the verb is to affect. Second, ASICs are an integral part of coin security. Stop whining.
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July 03, 2014, 07:20:40 PM
 #13

the protocol never changed to make ASICS possible. it was the smart people that realised that CPU/GPU was inefficiant and they designed a chip that had only one purpose..

you do realise that even script ASIC's now exist. so moving bitcoin to a new protocol, would just be like moving it over to script. initially thought as being CPU/GPU only (litecoins reason for being).. but now smart people have moved litecoin into the ASIC mining system.

as for moving it into POS instead.. all that means is that the rich get richer EG karpeles holding 600k would get the biggest slice of the block reward pie, followed by coinbase (their coldstore), bitstamp, bitpay etc.

leaving average joe just picking up dust amounts even if they held >1000btc..

POS is only for the coindevs that premine the main hoard first. then they just sit back and simply get rich.. so stick with POW as it is now and just accept that the OP got scammed by a company.. not bitcoin.

bitcoin ethos: don't trust third parties with your funds.... remember it

dont blame bitcoin for a human problem.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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July 03, 2014, 07:52:33 PM
 #14

Most ASIC manufacturers are not con artists. They hash at the advertised rate and they earn you bitcoin. They are just overpriced and people fall for them.
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July 03, 2014, 08:03:12 PM
 #15

Surely the whole premise here is false.  If you change the algorithm, everyone will rush out to buy new hardware and the hardware suppliers will overcharge for that as well. 

"Let's teach them a lesson by forcing everyone to throw even more money at them".   Cheesy

Not only would it be a terrible idea to jeopardise the coin's future to supposedly fix something that isn't actually a problem, but it doesn't even fix the problem you think you're trying to solve.  All it would achieve is instability in the markets, possible security risks, lots of unnecessary upheaval and more profit for the companies you think ripped you off.
wuzamarine (OP)
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July 03, 2014, 08:34:22 PM
 #16

Without effecting the coin.

First of all, the verb is to affect. Second, ASICs are an integral part of coin security. Stop whining.

integral?
no, not even close. There are thousands of coins that run just fine on cpu.
wuzamarine (OP)
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July 03, 2014, 08:35:20 PM
 #17

Most ASIC manufacturers are not con artists. They hash at the advertised rate and they earn you bitcoin. They are just overpriced and people fall for them.

The entire market is a fraud.
There is not one legitimate company.
wuzamarine (OP)
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July 03, 2014, 08:37:52 PM
 #18

Surely the whole premise here is false.  If you change the algorithm, everyone will rush out to buy new hardware and the hardware suppliers will overcharge for that as well. 

"Let's teach them a lesson by forcing everyone to throw even more money at them".   Cheesy

Not only would it be a terrible idea to jeopardise the coin's future to supposedly fix something that isn't actually a problem, but it doesn't even fix the problem you think you're trying to solve.  All it would achieve is instability in the markets, possible security risks, lots of unnecessary upheaval and more profit for the companies you think ripped you off.

any ASIC is worthless in 2 or 3 months.
Just rotate the protocol.
seriouscoin
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July 03, 2014, 09:24:43 PM
 #19

Why does the dumbest always speak the loudest?

It has been a while since we've seen a "ASIC kills bitcoin" thread....

Can anyone guess how soon we will see another " mining concentration is a flaw" thread?

Gotta love all the idiots come and go ....
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July 03, 2014, 09:31:41 PM
 #20

Most ASIC manufacturers are not con artists. They hash at the advertised rate and they earn you bitcoin. They are just overpriced and people fall for them.

The entire market is a fraud.
There is not one legitimate company.

You know what, you're right...

Despite the misguided thoughts such as "the hashes are wasted
and it provides no security and we should change bitcoin"
(which are obviously wrong)

...you're right that ASIC manufactures are out to take your money.
They imply or at least bank on you believing the idea that you
can or will be profitable from mining, and the reality is you probably
won't.

Why would any company sell you a piece of hardware that
they can run themselves and make more of a profit?  The answer
is, they generally won't, because to do so would be
anti-business.  All businesses are out to maximize profits,
and without profits, there would be no business.  

So... It's a racket.

Difficulty keeps going up, and your slice of the pie keeps
going down... MAYBE you will make your money back
if the difficulty stays level, but it hasn't.

You could make your money back if BTC prices rise,
but then again, its easier to simply buy BTC.

Cloud mining is even more of a scam.

The winners in mining are those that make their
own chips or at least purchase chips wholesale
and assemble them.  

There's nothing left for you to do , except
to except the reality, learn from the (expensive)
mistake and move on.

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