Bitcoin Forum
April 22, 2019, 03:34:08 AM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: What method of mining would you prefer AM to use?
Solo-ming - 24 (34.8%)
Joining an established pool - 0 (0%)
Create their own pool - 20 (29%)
P2P - 25 (36.2%)
Total Voters: 69

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: « 1 [2]  All
  Print  
Author Topic: AM Self-mining  (Read 3127 times)
MrWDunne
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250


View Profile
July 31, 2014, 02:13:17 PM
 #21

Protip:  If you would like to keep Bitcoin mining decentralized, don't invest in mining companies.
I have to agree with Lambchop here.

Lambchop is saying that people shouldn't invest in AM. Do you really agree with that or did you just not understand what he was saying?
I agree that if you want mining to be fully decentralized you shouldn't, however I think that if their hashrate is 10% or less there is no real risk. So its a mixture.

100% New Software
PC, Mac, Android, & HTML5 Clients
Krill Rakeback
Low Rake
Bitcoin Poker 3.0
Bad Beat Jackpot
SwC Poker Relaunch
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1555904048
Hero Member
*
Offline Offline

Posts: 1555904048

View Profile Personal Message (Offline)

Ignore
1555904048
Reply with quote  #2

1555904048
Report to moderator
Mabsark
Legendary
*
Offline Offline

Activity: 826
Merit: 1000


View Profile
July 31, 2014, 02:22:49 PM
 #22

Protip:  If you would like to keep Bitcoin mining decentralized, don't invest in mining companies.
I have to agree with Lambchop here.

Lambchop is saying that people shouldn't invest in AM. Do you really agree with that or did you just not understand what he was saying?
I agree that if you want mining to be fully decentralized you shouldn't, however I think that if their hashrate is 10% or less there is no real risk. So its a mixture.

Lambchop is basically saying that ASIC miners should not exist, regardless of whether they're used by individuals in a P2Pool or by a corporation solo-mining with 40% on the network hash rate.
DjPxH
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
July 31, 2014, 02:54:24 PM
 #23

Protip:  If you would like to keep Bitcoin mining decentralized, don't invest in mining companies.
I have to agree with Lambchop here.

Lambchop is saying that people shouldn't invest in AM. Do you really agree with that or did you just not understand what he was saying?
I agree that if you want mining to be fully decentralized you shouldn't, however I think that if their hashrate is 10% or less there is no real risk. So its a mixture.

Lambchop is basically saying that ASIC miners should not exist, regardless of whether they're used by individuals in a P2Pool or by a corporation solo-mining with 40% on the network hash rate.

AM isn't just building a huge mining operation, well at least they didn't want to. Now it seems they might as well just do exactly that. But effectively, they're producing chips that other mining operations use. So as a chip manufacturer it totally doesn't affect a decentralized system.

▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE
The Premier Bitcoin Gambling Experience @PrimeDice
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
JoTheKhan
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
July 31, 2014, 02:55:12 PM
 #24

Protip:  If you would like to keep Bitcoin mining decentralized, don't invest in mining companies.
I have to agree with Lambchop here.

Lambchop is saying that people shouldn't invest in AM. Do you really agree with that or did you just not understand what he was saying?
I agree that if you want mining to be fully decentralized you shouldn't, however I think that if their hashrate is 10% or less there is no real risk. So its a mixture.

Lambchop is basically saying that ASIC miners should not exist, regardless of whether they're used by individuals in a P2Pool or by a corporation solo-mining with 40% on the network hash rate.

No, hes saying that:

if you would like to keep Bitcoin mining decentralized, then you should not invest in mining companies.

He didn't say Asic's shouldn't exist. He's saying you shouldn't help towards their development if you want to keep mining decentralized. Some people don't want to keep mining decentralized, they value their own profits first.
jimmothy
Hero Member
*****
Offline Offline

Activity: 770
Merit: 500



View Profile
July 31, 2014, 03:35:02 PM
 #25

No, hes saying that:

if you would like to keep Bitcoin mining decentralized, then you should not invest in mining companies.

He didn't say Asic's shouldn't exist. He's saying you shouldn't help towards their development if you want to keep mining decentralized. Some people don't want to keep mining decentralized, they value their own profits first.

He is implying that buying AM shares has any effect on how much PH they will deploy.

If asic manufacturers exist mining will become more centralized.

The only way you are adding to the centralization is by investing in the biggest asic manufacturer (AKA bitfury).

Investing in companies competing with the largest company only decentralizes the network.
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
July 31, 2014, 03:47:41 PM
 #26

^Reminds me of my cat's doctorate dissertation.
Very wisdom.
Much learnings.

Could you two scholars divine the true meaning of The NotLambchop Papyri in private?
ty
DjPxH
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
July 31, 2014, 03:59:45 PM
 #27

Back to self mining. I see, no one is actually fond of joining an already existing pool. If we had to join a pool, and there was no other way: Which pool should we join in your opinion?

▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE
The Premier Bitcoin Gambling Experience @PrimeDice
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Mabsark
Legendary
*
Offline Offline

Activity: 826
Merit: 1000


View Profile
July 31, 2014, 07:11:58 PM
 #28

Protip:  If you would like to keep Bitcoin mining decentralized, don't invest in mining companies.
I have to agree with Lambchop here.

Lambchop is saying that people shouldn't invest in AM. Do you really agree with that or did you just not understand what he was saying?
I agree that if you want mining to be fully decentralized you shouldn't, however I think that if their hashrate is 10% or less there is no real risk. So its a mixture.

Lambchop is basically saying that ASIC miners should not exist, regardless of whether they're used by individuals in a P2Pool or by a corporation solo-mining with 40% on the network hash rate.

AM isn't just building a huge mining operation, well at least they didn't want to. Now it seems they might as well just do exactly that. But effectively, they're producing chips that other mining operations use. So as a chip manufacturer it totally doesn't affect a decentralized system.

What I said in no way implied that selling ASIC miners causes centralisation. I don't know how you got to that from what I said.

What I was saying is that in order for a company to create and sell ASIC miners, it would need investment. Lambchop is saying that nobody should invest in mining companies. Without that investment, mining companies would not exist and neither would ASIC miners.

No investment in mining companies == no ASIC miners.
Mabsark
Legendary
*
Offline Offline

Activity: 826
Merit: 1000


View Profile
July 31, 2014, 07:15:17 PM
 #29

Back to self mining. I see, no one is actually fond of joining an already existing pool. If we had to join a pool, and there was no other way: Which pool should we join in your opinion?

Whatever isn't ghash and has the best financial incentives. I wouldn't really be bothered.
JoTheKhan
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
July 31, 2014, 09:21:48 PM
 #30

Back to self mining. I see, no one is actually fond of joining an already existing pool. If we had to join a pool, and there was no other way: Which pool should we join in your opinion?

Whatever isn't ghash and has the best financial incentives. I wouldn't really be bothered.

Eligius.
dropt
Legendary
*
Offline Offline

Activity: 1512
Merit: 1000



View Profile
July 31, 2014, 09:41:58 PM
 #31

Back to self mining. I see, no one is actually fond of joining an already existing pool. If we had to join a pool, and there was no other way: Which pool should we join in your opinion?

I say we mine at GHASH.io, but withhold any winning block. 

Unless we're ethical, then I think the HR should be split across the smaller pools, or straight to P2P.
Fabrizio89
Hero Member
*****
Offline Offline

Activity: 921
Merit: 1000


View Profile
August 19, 2014, 04:24:33 PM
 #32

P2Pool would be the best and safest bet for the network, but maybe not for their earnings. As a small shareholder I wouldn't mind to lose some profits to see the network strenghtened by a legit company, but I'd understand otherwise. As already mentioned anyway the total hashing power is the first thing we should know before discussing the matter.
CanaryInTheMine
Donator
Legendary
*
Offline Offline

Activity: 2058
Merit: 1005


between a rock and a block!


View Profile
August 19, 2014, 04:40:42 PM
 #33

P2Pool would be the best and safest bet for the network, but maybe not for their earnings. As a small shareholder I wouldn't mind to lose some profits to see the network strenghtened by a legit company, but I'd understand otherwise. As already mentioned anyway the total hashing power is the first thing we should know before discussing the matter.
Shareholders are interested in returns, not losses, even if they're small.
Pages: « 1 [2]  All
  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!