Minor Miner
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Activity: 2268
Merit: 1011
Be A Digital Miner
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October 30, 2015, 04:08:29 PM |
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I really like the idea of decentralise transaction verification
By the way, thanks for wanting to mine responsibly. Many miners these days don't even know why decentralization is important for bitcoin. Even fewer have noticed that China has over 60% of the hashpower and what a problem this could be. Been away for a while, do you mean china in general has 60% or do you mean a few people in china have 60%? I guess I should go look up Organ's thread too. |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Fatman3001
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Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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October 30, 2015, 04:19:28 PM |
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I really like the idea of decentralise transaction verification
By the way, thanks for wanting to mine responsibly. Many miners these days don't even know why decentralization is important for bitcoin. Even fewer have noticed that China has over 60% of the hashpower and what a problem this could be. Been away for a while, do you mean china in general has 60% or do you mean a few people in china have 60%? I guess I should go look up Organ's thread too. 4 chinese pools have roughly 60% (Antpool, F2Pool, BTCC Pool and BW). If the chinese government decides to give them a call, like they did with exchanges in Dec 2013, then we have a problem. Actually, the mere fact that we currently have to trust the chinese government not to do this makes Bitcoin something less than the trustless decentralized network it's supposed to be. |
"I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe, 1995
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bitcoinvest
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Activity: 1124
Merit: 1000
13eJ4feC39JzbdY2K9W3ytQzWhunsxL83X
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November 02, 2015, 01:00:16 PM |
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why want to do this to the pools? just curious why a goverment want to call and speak with this pools...
with exchange i understand it but with pools?
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philipma1957
Legendary
 Online
Activity: 4102
Merit: 7762
'The right to privacy matters'
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November 02, 2015, 02:15:11 PM |
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why want to do this to the pools? just curious why a goverment want to call and speak with this pools...
with exchange i understand it but with pools?
They may want some coins under the table so to speak. The issue is not that the four biggest pools are in China . The issue is almost every miner for retail sale comes from China. |
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DrHaribo (OP)
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Activity: 2730
Merit: 1034
Needs more jiggawatts
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November 02, 2015, 02:22:51 PM |
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why want to do this to the pools? just curious why a goverment want to call and speak with this pools...
with exchange i understand it but with pools?
I think the most likely danger from bitcoin hashpower majority being within one country or legal area is transaction censorship. Maybe something like what the US government have done or still does today within the old financial systems. They have blocked payments to Wikileaks, Russian banks, etc. It would be foolish to assume that the Chinese are so much nicer than the Americans and would never do such a thing. When you have hashpower majority you can simply orphan any blocks that contain transactions you don't approve of. You can also double spend. I suppose it might also be possible that a nation would want to do lots of double-spends to make transactions unreliable, if they wanted to destroy Bitcoin. |
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bitcoinvest
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Activity: 1124
Merit: 1000
13eJ4feC39JzbdY2K9W3ytQzWhunsxL83X
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November 02, 2015, 04:51:46 PM |
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why want to do this to the pools? just curious why a goverment want to call and speak with this pools...
with exchange i understand it but with pools?
They may want some coins under the table so to speak. The issue is not that the four biggest pools are in China . The issue is almost every miner for retail sale comes from China. "we" created this situation for everything in the world of electronics and not only...  of course not me and you but bigger wales. let's remember butterfly labs that i personaly order 3 units of asic and reached my door 1 unit after 1,5 years!!!!!!!!and in reality steal me when refund me in $ when i cancelled my 2 orders but i paid in BTC and NOWHERE in terms was this describing that if you cancel you will be refuned in $. why i would ever in the world wanted again to order from US anything? of course will buy from China since every order reached my door with 3 days maximum delay... this need to think: when we do business act like pro and not like amatures. |
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Minor Miner
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Activity: 2268
Merit: 1011
Be A Digital Miner
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November 03, 2015, 03:46:18 PM |
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With Spondoolies selling 110TH/s machines that consume 0.15W per GH/s only to large players, I really do not see how small miners are going to survive at all. We are now dividing up about a block a day amongst us all. If a minimum order is 15-20 machines (like the rumors say), each person that buys into Spons will be adding 1.7-2.2 PH/s all by themselves. At some point the amount you receive gets so insignificant that you do not care. I find it all kind of depressing.
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DrHaribo (OP)
Legendary
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Activity: 2730
Merit: 1034
Needs more jiggawatts
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November 04, 2015, 09:18:50 PM |
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Some users are having problems connecting to the main mining server. We are now over on a backup server. If you were having problems connecting then it should work again now.
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uno-xbix
Newbie
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Activity: 5
Merit: 0
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November 09, 2015, 08:51:37 AM |
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With Spondoolies selling 110TH/s machines that consume 0.15W per GH/s only to large players, I really do not see how small miners are going to survive at all. We are now dividing up about a block a day amongst us all. If a minimum order is 15-20 machines (like the rumors say), each person that buys into Spons will be adding 1.7-2.2 PH/s all by themselves. At some point the amount you receive gets so insignificant that you do not care. I find it all kind of depressing.
I think Spondoolies is undermining the decentralisation aspect of BTC with this technology at this time under these terms. Or am I to conservative? As their customer I let my opinion be known to them. Anyway, in the very near future mining will only be for very big players I guess. For me (14TH/s) I give it only 1 year of mining at most. ( And I hope some luck will return to our pool  ) Maby Ethereum is an alternative for those who are becoming to small for BTC. If you still have some graphic cards left. Ethereum is tested right now and has some promising features. |
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gb1971
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Activity: 45
Merit: 0
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November 13, 2015, 01:11:08 PM |
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DrHaribo (OP)
Legendary
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Activity: 2730
Merit: 1034
Needs more jiggawatts
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November 13, 2015, 02:10:09 PM |
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We hit the mother lode! |
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BeneQ
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Activity: 67
Merit: 0
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November 14, 2015, 05:18:26 PM |
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I am mining with Antminer S4 for 12 hours and want to ask a Silly question : where I can see my earnings
I got in Account Overview Balance 0
thanks for help
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DrHaribo (OP)
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Activity: 2730
Merit: 1034
Needs more jiggawatts
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November 14, 2015, 06:18:00 PM |
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I am mining with Antminer S4 for 12 hours and want to ask a Silly question : where I can see my earnings
I got in Account Overview Balance 0
thanks for help
You get paid when blocks are found. For more details, look here: https://bitcointalk.org/index.php?topic=27062.msg2769824#msg2769824 |
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gb1971
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Activity: 45
Merit: 0
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November 24, 2015, 07:18:06 PM |
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after a very lucky couple of days .........new difficulty seems to kick in...................o well lets keep it running and see what happens  |
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wlefever
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Activity: 1173
Merit: 1001
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November 25, 2015, 03:48:03 AM |
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after a very lucky couple of days .........new difficulty seems to kick in...................o well lets keep it running and see what happens If you mine it, blocks will come!! BTC  |
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coinout83
Newbie
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Activity: 5
Merit: 0
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November 25, 2015, 10:02:24 PM |
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Hello,
Am new to Bitcoin mining. Opened Bitminter account using my laptop. What else do I need to do in order to mine Bitcoins. Please help me in this regard.
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gecox22
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November 25, 2015, 10:25:31 PM |
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Hello,
Am new to Bitcoin mining. Opened Bitminter account using my laptop. What else do I need to do in order to mine Bitcoins. Please help me in this regard.
Welcome to bitminter! What equipment are you planning to use to mine with? Here is a copy and pasted getting started guide right off the webpage Getting Started 1. Register 2. Connect your miners to stratum+tcp://mint.bitminter.com:3333 As user name put your Bitminter user name, an underscore, then a worker name, e.g. DrHaribo_1. There is no password check. You can put X or 123 as password. If you have firewall issues try port 443 instead of 3333. start bitminter client For some older USB-based ASICs we offer the easy-to-use Bitminter client. Click the engine start button to launch it. Requires updated Java. Read more in its forum thread. 3. Get a wallet to transfer your coins to. Make sure you secure your wallet. Let us know if you have any more questions. |
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coinout83
Newbie
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Activity: 5
Merit: 0
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November 25, 2015, 10:31:16 PM |
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Do I really need an equipment in order to mine bitcoins ? I only have my laptop with an Internet connection.  |
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organofcorti
Donator
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Activity: 2058
Merit: 1007
Poor impulse control.
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November 25, 2015, 10:39:19 PM |
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Do I really need an equipment in order to mine bitcoins ? I only have my laptop with an Internet connection. All you really need is a pen, paper and a calculator, and lots of time. |
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coinout83
Newbie
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Activity: 5
Merit: 0
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November 25, 2015, 10:41:32 PM |
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Hello,
Am new to Bitcoin mining. Opened Bitminter account using my laptop. What else do I need to do in order to mine Bitcoins. Please help me in this regard.
Welcome to bitminter! What equipment are you planning to use to mine with? Here is a copy and pasted getting started guide right off the webpage Getting Started 1. Register 2. Connect your miners to stratum+tcp://mint.bitminter.com:3333 As user name put your Bitminter user name, an underscore, then a worker name, e.g. DrHaribo_1. There is no password check. You can put X or 123 as password. If you have firewall issues try port 443 instead of 3333. start bitminter client For some older USB-based ASICs we offer the easy-to-use Bitminter client. Click the engine start button to launch it. Requires updated Java. Read more in its forum thread. 3. Get a wallet to transfer your coins to. Make sure you secure your wallet. Let us know if you have any more questions. The problem is I have registered with an username and password. Now it says " Connect your miners to stratum+tcp://mint.bitminter.com:3333 " How to do that , bcos there is no option that says " Connect your miners " inside the Bitminter web page " https://bitminter.com/members " . Therefore as an novice in mining I want some step-by-step manual/online guide in order to mine bitcoins using Bitminter . Thanks in Advance. |
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