|
MrWDunne
|
 |
July 31, 2014, 02:13:17 PM |
|
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. |
|
|
|
|
|
|
|
|
|
|
|
|
Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
Mabsark (OP)
Legendary
 Offline
Activity: 826
Merit: 1004
|
|
July 31, 2014, 02:22:49 PM |
|
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
|
|
July 31, 2014, 02:54:24 PM |
|
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
|
|
July 31, 2014, 02:55:12 PM |
|
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
|
|
July 31, 2014, 03:35:02 PM |
|
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
|
|
July 31, 2014, 03:47:41 PM |
|
^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
|
|
July 31, 2014, 03:59:45 PM |
|
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 (OP)
Legendary
Offline
Activity: 826
Merit: 1004
|
|
July 31, 2014, 07:11:58 PM |
|
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 (OP)
Legendary
Offline
Activity: 826
Merit: 1004
|
|
July 31, 2014, 07:15:17 PM |
|
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
|
|
July 31, 2014, 09:21:48 PM |
|
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
Activity: 1512
Merit: 1000
|
|
July 31, 2014, 09:41:58 PM |
|
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
|
|
August 19, 2014, 04:24:33 PM |
|
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
Activity: 2352
Merit: 1060
between a rock and a block!
|
|
August 19, 2014, 04:40:42 PM |
|
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. |
|
|
|
|
|
Poll
