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Author Topic: Deepbit needs to be dismantled immediately.  (Read 4553 times)
Jon
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March 23, 2012, 04:19:26 AM
 #1

I don't care what the means are. They have the direct ability and financial incentive to influence the dev team to their whims -- and vice-versa. The 30%+ hash rate is a dangerous majority and needs to be lowered to less than 10%.

I WILL NOT REST UNTIL DEEPBIT IS A SUBJECT TO THE WHIMS OF ALL BITCOIN SHAREHOLDERS.

Bitcoin shareholders, your assets are in the hands of this monstrosity. Do you want that to change?

Join me. Join the cause of getting all miners on P2Pool and away from these power-wielding parents we call pools.

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March 23, 2012, 04:21:01 AM
 #2

...away from these power-wielding parents we call pools.
I knew it! Stefan Molyneux DOES post here!!

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March 23, 2012, 04:22:02 AM
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I'm all for this motion.
Down with the sickness, please.

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March 23, 2012, 04:25:40 AM
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Problem with the free market, Atlas?

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March 23, 2012, 04:52:44 AM
 #5

Puhlease. If people don't like deepbit's decisions they'll move to a pool they do agree with.

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March 23, 2012, 07:37:03 AM
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By including more free transactions than any other larger pool, P2Pool included, Deepbit appears to care more about Bitcoin's future than most miners. Should Deepbit be compromised, participants will take their hashing power elsewhere and evil blocks will be orphaned. I'm more concerned about the Magical Mystery Miner, who doesn't seem to have Bitcoin's best interest at heart.
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March 23, 2012, 09:00:24 AM
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lol! You need to tell that to the Russians and Chinese. They are the ones on this pool, because it's the only big pool that is in their language.

Translate p2pool first in a appropriate language, and try again. And no, english-only is not a appropriate language, you're excluding 75% of the Internet population.
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March 23, 2012, 09:04:51 AM
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Quote from: Blitzboom
Problem with the free market, Atlas?

lol! You need to tell that to the Russians and Chinese. They are the ones on this pool, because it's the only big pool that is in their language.

Information disparity.

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March 23, 2012, 09:08:50 AM
 #9

I WILL NOT REST UNTIL DEEPBIT IS A SUBJECT TO THE WHIMS OF ALL BITCOIN SHAREHOLDERS.

WATCH OUT GUYS. HE'S GOING TO PROTEST DEEPBIT BY BUILDING AN IKEA TABLE.

Seriously Atlas, if your typical day consists of being worthless as it is, you not resting just means you'll be worthless and tired.

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March 23, 2012, 01:39:06 PM
 #10

Bitcoin shareholders, your assets are in the hands of this monstrosity. Do you want that to change?
No, I do not want it to change. Deepbit is an excellent community asset, and if you don't know why then you can go pound sand.

While p2pool is the future, the free market does not support your attempt to rip away power based on your own whims, when such power was gained through stability, honesty, and trust in the fact that stats aren't being fudged to line their pockets.

Other relevant reasons have been quoted by posters before me, read them - they are accurate.

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March 23, 2012, 01:48:53 PM
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actually i was thinking 30% is way better than when it used to be in the 40's and is a clear example of how the market is automatically spreading out the pool concentration.  i think p2pool had a lot to do with this.  leave Deepbit alone.  what's so bad about 30% anyway?
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March 23, 2012, 02:12:13 PM
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Quote
I WILL NOT REST UNTIL DEEPBIT IS A SUBJECT TO THE WHIMS OF ALL BITCOIN SHAREHOLDERS.

What will you do exactly ?

Also, I'm not sure you understand the incentives structure. A 50% pool is in the position to form a cartel and double the average payout. The profits of the cartel member will rise dramatically, if they had a 10% profit margin on the open market, they will increase the profits by 11 times when the cartel starts operating. It seems miners have all the reasons to join DeepBit before they close doors to new members, and the "Bitcoin shareholders" can't do jack shit about it.
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March 23, 2012, 02:15:30 PM
 #13

actually i was thinking 30% is way better than when it used to be in the 40's and is a clear example of how the market is automatically spreading out the pool concentration.  i think p2pool had a lot to do with this.  leave Deepbit alone.  what's so bad about 30% anyway?

Agreed. I was pretty upset when it was >50% last year, but this is satisfactory now.

Also, it can be a good thing to have multiple major trusted pools which can get the majority of the hashrate, as we have seen recently with BIP 16.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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March 23, 2012, 02:37:00 PM
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Mystery Miner is at large, but Atlas is worried about Deepbit...
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March 23, 2012, 02:45:39 PM
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Wasn't Atlas permabanned?
Matthew N. Wright
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March 23, 2012, 02:53:23 PM
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Wasn't Atlas permabanned?

Yay!  More people asking the right questions.

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March 23, 2012, 03:04:14 PM
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Wasn't Atlas permabanned?

Its not possible to permaban the GOD that holds the universe together Smiley

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March 23, 2012, 03:05:13 PM
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Wasn't Atlas permabanned?

Its not possible to permaban the GOD that holds the universe together Smiley

Atlas isn't god he is just God's semi delusional economic adviser on earthly finances.
John (John K.)
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March 23, 2012, 03:16:47 PM
 #19

I don't care what the means are. They have the direct ability and financial incentive to influence the dev team to their whims -- and vice-versa. The 30%+ hash rate is a dangerous majority and needs to be lowered to less than 10%.

I WILL NOT REST UNTIL DEEPBIT IS A SUBJECT TO THE WHIMS OF ALL BITCOIN SHAREHOLDERS.

Bitcoin shareholders, your assets are in the hands of this monstrosity. Do you want that to change?

Join me. Join the cause of getting all miners on P2Pool and away from these power-wielding parents we call pools.
You high on SR stuff again, Atlas? Might it be those new "products" that you beta-tested?

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Matthew N. Wright
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March 23, 2012, 03:18:38 PM
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Can we all agree to respond to Atlas threads with "Shut up, Atlas."?

Here, I'll start.

Shut up, Atlas.

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