Bitcoin Forum
December 07, 2016, 10:36:06 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 [564] 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 594 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 ... 1560 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805718 times)
Torque
Legendary
*
Offline Offline

Activity: 924



View Profile
August 27, 2014, 07:36:25 PM
 #11261

so if a bank, gvt, NSA, or other malicious actor wants to do a 51% attack, they need to duplicate all the mines in the world like this one:

http://www.thecoinsman.com/2014/08/bitcoin/inside-one-worlds-largest-bitcoin-mines/

Scary. As. Hell.

One well placed missile and that entire building would be gone, along with it 5% of the entire bitcoin network.  I hope that these bitcoin facilities are hard to track down.  But with all the electricity it is sucking, I doubt it...

whose missile?  certainly not a US one.  neither a Chinese one; it's their gvt's ace in the hole if gold and UST's go kerplunk.

Can you say Terrorism?
1481150166
Hero Member
*
Offline Offline

Posts: 1481150166

View Profile Personal Message (Offline)

Ignore
1481150166
Reply with quote  #2

1481150166
Report to moderator
1481150166
Hero Member
*
Offline Offline

Posts: 1481150166

View Profile Personal Message (Offline)

Ignore
1481150166
Reply with quote  #2

1481150166
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481150166
Hero Member
*
Offline Offline

Posts: 1481150166

View Profile Personal Message (Offline)

Ignore
1481150166
Reply with quote  #2

1481150166
Report to moderator
1481150166
Hero Member
*
Offline Offline

Posts: 1481150166

View Profile Personal Message (Offline)

Ignore
1481150166
Reply with quote  #2

1481150166
Report to moderator
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 27, 2014, 07:49:11 PM
 #11262

this is a pretty big penetration rate for those >$100K:

In the study group, 70% of those who made more than $100,000 annually had heard of bitcoin, while 43% of respondents from lower-income households said they knew about or had used digital currency.

http://www.coindesk.com/banking-survey-65-us-consumers-unlikely-buy-bitcoin/
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 27, 2014, 07:50:02 PM
 #11263

so if a bank, gvt, NSA, or other malicious actor wants to do a 51% attack, they need to duplicate all the mines in the world like this one:

http://www.thecoinsman.com/2014/08/bitcoin/inside-one-worlds-largest-bitcoin-mines/

Scary. As. Hell.

One well placed missile and that entire building would be gone, along with it 5% of the entire bitcoin network.  I hope that these bitcoin facilities are hard to track down.  But with all the electricity it is sucking, I doubt it...

whose missile?  certainly not a US one.  neither a Chinese one; it's their gvt's ace in the hole if gold and UST's go kerplunk.

Can you say Terrorism?

well then, the US gvt would have to pay the consequences of its actions.
notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
August 27, 2014, 07:54:01 PM
 #11264

this is a pretty big penetration rate for those >$100K:

In the study group, 70% of those who made more than $100,000 annually had heard of bitcoin, while 43% of respondents from lower-income households said they knew about or had used digital currency.

http://www.coindesk.com/banking-survey-65-us-consumers-unlikely-buy-bitcoin/

Quote
Eighteen percent of participants indicated that they were “likely” or “very likely” to use a digital currency, and only 3% of those who had heard of bitcoin said they had actually bought some.

So a factor of 6 increase in demand when the next bubble gets rolling?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Torque
Legendary
*
Offline Offline

Activity: 924



View Profile
August 27, 2014, 08:26:46 PM
 #11265

so if a bank, gvt, NSA, or other malicious actor wants to do a 51% attack, they need to duplicate all the mines in the world like this one:

http://www.thecoinsman.com/2014/08/bitcoin/inside-one-worlds-largest-bitcoin-mines/

Scary. As. Hell.

One well placed missile and that entire building would be gone, along with it 5% of the entire bitcoin network.  I hope that these bitcoin facilities are hard to track down.  But with all the electricity it is sucking, I doubt it...

whose missile?  certainly not a US one.  neither a Chinese one; it's their gvt's ace in the hole if gold and UST's go kerplunk.

Can you say Terrorism?

well then, the US gvt would have to pay the consequences of its actions.

I'm just concerned that these bitcoin mining facilities, that are supposedly running the greatest worldwide virtual currency network ever seen on planet earth, have all the security & disaster hardening equivalent of a shabby convenient store.  In the near future we could be talking about $100+ Billion worldwide market here.

Even most corporate HA/DR data centers are better designed than this.
kendog77
Hero Member
*****
Offline Offline

Activity: 742


View Profile
August 27, 2014, 08:38:45 PM
 #11266


I'm just concerned that these bitcoin mining facilities, that are supposedly running the greatest worldwide virtual currency network ever seen on planet earth, have all the security & disaster hardening equivalent of a shabby convenient store.  In the near future we could be talking about $100+ Billion worldwide market here.

Even most corporate HA/DR data centers are better designed than this.

If the spike of Bitcoin spikes again, millions of dollars of capital will flow into mining and help secure the network. Bitcoin mining difficulty follows price.

If a large mining facility goes offline, the difficulty would fall and the remaining miners on the network would make more, which would also provide an incentive for more capital to flow into mining.
notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
August 27, 2014, 08:41:41 PM
 #11267

It's much easier to wipe out a traditional bank's records with a missile than to wipe out the blockchain.  Even if they take out half the network right after a difficulty adjustment and it takes a month of 20 minute blocks to readjust, the transaction record will be safe.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Pruden
Sr. Member
****
Offline Offline

Activity: 457

Sirius Iberia - Nos tomamos el Bitcoin en serio


View Profile
August 27, 2014, 09:13:34 PM
 #11268

As CNBC notes, since the recession ended, lower-wage jobs have grown by 2.3 million while medium- and higher-wage jobs actually contracted by 1.2 million. This is in line with the ground-losing 2% wage growth the job market is seeing.

That is deeply disturbing and echoes something I read the other day: Hussman's comment this week is a monumental piece on the flawed causality of QE, and more generally on the inequality that lower rates cause. Cheaper money helps disproportionately the only kind of business whose main cost is money: Financials. About low quality of employment:

http://www.hussmanfunds.com/wmc/wmc140825.htm

First, we should begin by stopping the harm. Quantitative easing will not help to reverse this process... Indeed, Fed policy does violence to the economy by helping to narrow it to what complex systems theorists call a “monoculture.” Nearly every minute of business television is now dominated by the idea that the Federal Reserve is the only thing that matters. Meanwhile, by pursuing a policy that distinctly benefits those enterprises whose primary cost is interest itself, the Fed’s policies have preserved and enhanced too-big-to-fail banks, financial engineering, and speculative international capital flows at the expense of local lending, small and medium-size banks and enterprises, and ultimately, economic diversity.

HeliKopterBen
Hero Member
*****
Offline Offline

Activity: 622



View Profile
August 27, 2014, 10:23:13 PM
 #11269

so if a bank, gvt, NSA, or other malicious actor wants to do a 51% attack, they need to duplicate all the mines in the world like this one:

http://www.thecoinsman.com/2014/08/bitcoin/inside-one-worlds-largest-bitcoin-mines/

Scary. As. Hell.

One well placed missile and that entire building would be gone, along with it 5% of the entire bitcoin network.  I hope that these bitcoin facilities are hard to track down.  But with all the electricity it is sucking, I doubt it...

whose missile?  certainly not a US one.  neither a Chinese one; it's their gvt's ace in the hole if gold and UST's go kerplunk.

Can you say Terrorism?

well then, the US gvt would have to pay the consequences of its actions.

I'm just concerned that these bitcoin mining facilities, that are supposedly running the greatest worldwide virtual currency network ever seen on planet earth, have all the security & disaster hardening equivalent of a shabby convenient store.  In the near future we could be talking about $100+ Billion worldwide market here.

Even most corporate HA/DR data centers are better designed than this.

Bitcoin's peer-to-peer design IS the security and disaster hardening.  That mining facility is just one peer on the network.  Bitcoin is likely too big to fail at this point.

Counterfeit:  made in imitation of something else with intent to deceive:  merriam-webster
hdbuck
Legendary
*
Offline Offline

Activity: 1134



View Profile
August 27, 2014, 11:02:48 PM
 #11270

Bitcoin is likely too big to fail at this point.

So true. Bill Gates' 'technological tour de force'.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 28, 2014, 12:08:39 AM
 #11271

ghash 20%, Discus 24%

i thought ghash was supposed to take over and trash the entire network?:

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 28, 2014, 12:12:23 AM
 #11272

so if a bank, gvt, NSA, or other malicious actor wants to do a 51% attack, they need to duplicate all the mines in the world like this one:

http://www.thecoinsman.com/2014/08/bitcoin/inside-one-worlds-largest-bitcoin-mines/

Scary. As. Hell.

One well placed missile and that entire building would be gone, along with it 5% of the entire bitcoin network.  I hope that these bitcoin facilities are hard to track down.  But with all the electricity it is sucking, I doubt it...

whose missile?  certainly not a US one.  neither a Chinese one; it's their gvt's ace in the hole if gold and UST's go kerplunk.

Can you say Terrorism?

well then, the US gvt would have to pay the consequences of its actions.

I'm just concerned that these bitcoin mining facilities, that are supposedly running the greatest worldwide virtual currency network ever seen on planet earth, have all the security & disaster hardening equivalent of a shabby convenient store.  In the near future we could be talking about $100+ Billion worldwide market here.

Even most corporate HA/DR data centers are better designed than this.

Bitcoin's peer-to-peer design IS the security and disaster hardening.  That mining facility is just one peer on the network.  Bitcoin is likely too big to fail at this point.

the fact that we now have dozens of facilities like this scattered all over the world will maintain decentralization.  this is the free market dynamics at work with all of them chasing profit.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 28, 2014, 12:23:15 AM
 #11273



http://www.forbes.com/sites/kashmirhill/2013/12/26/how-you-should-have-spent-100-in-2013-hint-bitcoin/
Adrian-x
Legendary
*
Offline Offline

Activity: 1330



View Profile
August 28, 2014, 12:39:23 AM
 #11274

ghash 20%, Discus 24%

i thought ghash was supposed to take over and trash the entire network?:

yes just like BTC Guild and ASICminer before them.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
wachtwoord
Legendary
*
Offline Offline

Activity: 1484



View Profile WWW
August 28, 2014, 12:50:51 AM
 #11275

ghash 20%, Discus 24%

i thought ghash was supposed to take over and trash the entire network?:

yes just like BTC Guild and ASICminer before them.

Wow and I can't even come up with the 50% contender before that. They had a huge fee but were immensely popular up to the end of 2012 (and maybe a little longer). Help me remember?

Also: Who the hell is Discus?  Cheesy

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 28, 2014, 12:56:31 AM
 #11276

Nice tool!

http://coinmap.org/
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 28, 2014, 01:00:12 AM
 #11277

ghash 20%, Discus 24%

i thought ghash was supposed to take over and trash the entire network?:

yes just like BTC Guild and ASICminer before them.

Wow and I can't even come up with the 50% contender before that. They had a huge fee but were immensely popular up to the end of 2012 (and maybe a little longer). Help me remember?

Also: Who the hell is Discus?  Cheesy

yeah, i'm always forgetting the name of that one too. Artforz's mine.
STT
Legendary
*
Offline Offline

Activity: 1204



View Profile WWW
August 28, 2014, 01:10:24 AM
 #11278

Guild was coming in the region of 50% about a year ago but the difference was they started ramping up their charges to discourage users from continuing to join where ghash seemed to not care about the potential dangers.  Its worrying anyhow that it could be a personal choice in the hands of so few at the top of what is supposed to be a distributed network


Good graph but take a special case and its possible a nice set of options purchases could have performed better in 2013.  That could be considered closer as its an all or nothing kind of thing and thats how many consider btc, to be potentially expiring at zero in some future scenarios

thefunkybits
Hero Member
*****
Offline Offline

Activity: 728



View Profile
August 28, 2014, 01:19:41 AM
 #11279

ghash 20%, Discus 24%

i thought ghash was supposed to take over and trash the entire network?:

yes just like BTC Guild and ASICminer before them.

Wow and I can't even come up with the 50% contender before that. They had a huge fee but were immensely popular up to the end of 2012 (and maybe a little longer). Help me remember?

Also: Who the hell is Discus?  Cheesy

Was it Deepbit youre thinking of? I remember them having ridiculous fees

I've heard Discus Fish is a friedcat project he built from ASICMINER cash.
Still a rumor at this point but if anyone has more info please pm me.
It would make sense considering how dismal AM has been performing lately

wachtwoord
Legendary
*
Offline Offline

Activity: 1484



View Profile WWW
August 28, 2014, 01:34:29 AM
 #11280

ghash 20%, Discus 24%

i thought ghash was supposed to take over and trash the entire network?:

yes just like BTC Guild and ASICminer before them.

Wow and I can't even come up with the 50% contender before that. They had a huge fee but were immensely popular up to the end of 2012 (and maybe a little longer). Help me remember?

Also: Who the hell is Discus?  Cheesy

Was it Deepbit youre thinking of? I remember them having ridiculous fees

I've heard Discus Fish is a friedcat project he built from ASICMINER cash.
Still a rumor at this point but if anyone has more info please pm me.
It would make sense considering how dismal AM has been performing lately


Yes I meant Deepbit thank you Smiley

Pages: « 1 ... 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 [564] 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 594 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 ... 1560 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!