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Author Topic: Tycho cheating every miners & soon destroy total bitcoin network completely.  (Read 17989 times)
rebuilder
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May 20, 2011, 12:10:14 PM
 #21

Several people I know on IRC have been selling freshly mined BTC at a small premium. There is a market for BTC with no transaction history.

I don't really see why. If you want to buy such coins for anonymity reasons, you'll have to conduct the trade in an untraceable fashion. If you do that, what do you care where the coins have been before? They can't be linked to your real name either way.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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goatpig
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May 20, 2011, 12:13:03 PM
 #22

The fact that pool owners advertise the pool size, means that to miners it is a important stat (the bigger the pool, the most regular is the payouts), thus throwing your own ghash on it at least has some marketing value.

Not really. Small time miners are better off in a pool, and Tycho's would still be #1 if you take 500 Gh/s, so people would join his regardless. As a matter of fact, he'd still be bigger than slush's and BTCmine combined...

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May 20, 2011, 12:16:27 PM
 #23

To whose wondering about the purpose of mintcoins:   http://forum.bitcoin.org/index.php?topic=5788.20

Also, small time miners not always know they are better without the pool, and your "small" to work outside the pool, still need to be big enough to get BTC generated before difficulty change (otherwise he risk never getting BTC), Vladmir explained that in the topic about deepbit being a security problem.

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May 20, 2011, 12:25:32 PM
 #24

Oh... remembering that this forum isn't a place for jokes, I'll try to answer seriously even if it's not that easy :)

1) There is a stats page with all the blocks minted today (more history may be available later as CSV export).
You can click on a date/time link and it will take you to the history.
Also you can trace most of your pool payouts up to one of those blocks.

2) I didn't knew that uncirculated coins are that valuable. If someone needs them, I can just sell openly and this will be somehow good for all the pool users too.

3) When I created my pool, one of my friends (not a banker, but a programmer) did a investment, so we had enough money to pay without waiting for confirmation. Now just a pool's fee gives me enough for insurance.
We had at least 2 invalid blocks, one some days ago.

4) I can't remember if I answered to your PM about april fool's joke or not. I thought that message was a joke too, sorry.

5) Some days ago my pool was attacked with a >1 Gbps flood so all the users were switched to hot spare server. Also someone tried to hack the site with acunetix vulnerability scanner at least twice (unsuccessfully).

6) My own hashrate is only 2 GH/s at this moment.

Welcome to my bitcoin mining pool: https://deepbit.net - Both payment schemes (including PPS), instant payout, no invalid blocks !
ICBIT Trading platform : USD/BTC futures trading, Bitcoin difficulty futures (NEW!). Third year in bitcoin business.
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May 20, 2011, 12:45:18 PM
 #25

Is there really a market for minted coins? First time I hear about this.

There was guy selling them on [you-know-where] for 10.6 BTC for 10.
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May 20, 2011, 12:48:51 PM
 #26

To whose wondering about the purpose of mintcoins:   http://forum.bitcoin.org/index.php?topic=5788.20

Also, small time miners not always know they are better without the pool, and your "small" to work outside the pool, still need to be big enough to get BTC generated before difficulty change (otherwise he risk never getting BTC), Vladmir explained that in the topic about deepbit being a security problem.

I'm not pretending mint coins aren't more valuable, rather that given the market capitalization and their availability right now, I doubt anyone is interested in these just yet. At least not enough to pay exorbitant fees for it. That private key trading idea applies to used coins too anyways, since there won't be any transaction log in the block chain.

We are agreeing that small miners will slowly be forced to join pools. On Tycho's end, if he had those 500 Gh/s, he'd be better off taking them off of his pool, so the likes of me wouldn't scare away new comers from joining his pool.

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May 20, 2011, 01:29:51 PM
 #27

Oh sweet Shiva, the monthly dishwara "someone is cheating" rant. (Ever hear of the boy who cried wolf? How am I supposed to take you seriously when you do this so often?)

While there is a valid concern over Deepbit's size and I have been very vocal about it, your post is simply... laughable.

Three to four times the price for new coins you say? Amazing...

You go on to make some more wild accusations without any proof what-so-ever. Maybe the problem is you think like a thief, so you assume everyone else does as well?




radracer
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May 20, 2011, 01:36:37 PM
 #28

cool story bro
cschmitz
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May 20, 2011, 01:40:11 PM
 #29

dishwara i am not a fan of tax coin, however your banker etc scheme seems a bit far fetched.
tycho has his servers at hetzner, a provider that is very reliable but mostly known to it professionals in germany. so lets assume tycho is an it professional in the know from germany.
he possibly realized the potential of bitcoin early on and decided to start a pool service with features desireable to avg joe miners who want instant gratification.
you talk about bankers etc to back this initial startup process, however you seem to toally ignore, that an investment into btc, say for 2000 euro, and another 500 for hardware is well within easy reach for anyone in germany it industry.
so please keep your conspiracy theory out of the logic.

proud 5.x gh/s miner. tips welcome at 1A132BPnYMrgYdDaRyLpRrLQU4aG1WLRtd
deadlizard
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May 20, 2011, 03:28:38 PM
 #30

just checked block explorer and most of my deepbit coins are mint.
if they commanded a premium i highly doubt any of them would be mint

btc address:1MEyKbVbmMVzVxLdLmt4Zf1SZHFgj56aqg
gpg fingerprint:DD1AB28F8043D0837C86A4CA7D6367953C6FE9DC

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May 20, 2011, 04:15:24 PM
 #31

cool story bro

I think someone needs to take off the tinfoil hat. I agree with moving away from DeepBit, but this is pure speculation. If I pass you on the street I could shoot you in the face, but there's no advantage to doing so. Tycho makes bank as it is.
Serge
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May 20, 2011, 04:23:51 PM
 #32

Screaming "cheater!" without backing up with some solid proof should be a ban-able offence!
mjsbuddha
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May 20, 2011, 04:25:52 PM
 #33

OMG! someone is more successful then me because I sit around and smoke pot all day! Success equates to authority! I hate authority!

Jesus, doing business with anarchists is a pain in the ass.
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May 20, 2011, 04:26:29 PM
 #34

Care for a tinfoil hat with your paranoia?  Actually, you need a stack of them.
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May 20, 2011, 04:36:27 PM
 #35

OMG! someone is more successful then me because I sit around and smoke pot all day! Success equates to authority! I hate authority!

Jesus, doing business with anarchists is a pain in the ass.

http://en.wikipedia.org/wiki/Anarcho-capitalism

If you don't own the private keys, you don't own the coins.
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May 20, 2011, 04:53:38 PM
 #36

Burden of proof is on the accuser. OP is ranting. Sure deepbit is too big - but it just offers too many advantages over the other pools. I'd move back to Slush if it implemented long polling and instantaneous payouts of confirmed blocks. (Waiting for 100 or 120 confirmations does not bother me).

WatchMine - get Bitcoin prices and pool stats on your Mobile
Gareth Nelson
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May 20, 2011, 05:23:54 PM
 #37

The fact that pool owners advertise the pool size, means that to miners it is a important stat (the bigger the pool, the most regular is the payouts), thus throwing your own ghash on it at least has some marketing value.

Not really. Small time miners are better off in a pool, and Tycho's would still be #1 if you take 500 Gh/s, so people would join his regardless. As a matter of fact, he'd still be bigger than slush's and BTCmine combined...

Not to mention the following obvious point:

Which is more suspicious? A coin with a massive long list of transactions, or a coin with only 2-3 transactions that's never seen again?


As to the main topic: I have it on good authority that all pool operators are working for a combination of the illuminati and the CIA - you see, they're trying to trick us all into thinking we actually have an anonymous currency when really it's a trick to enable the new world order!
jimbobway
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May 20, 2011, 05:32:17 PM
 #38

OP needs to apologize and change the thread title.

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May 20, 2011, 05:59:35 PM
 #39

OP needs to apologize and change the thread title.

Yes, "Dishwara hurts bitcoin reputation by spreading unfounded rumors, hurting himself and his investors" seems appropriate.

As we slide down the banister of life, this is just another splinter in our ass.
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May 20, 2011, 06:06:22 PM
 #40

Regarding selling newly minted blocks at a premium...

I am aware of at least one such trade taking place, but the newly minted blocks fetched a mere 5% premium of face value. Additionally, using such transactions is definitely more anonymous when done correctly. A miner can create a coinbase transaction with only their customer's public key. Once the block is found, all traces of the public key are removed and there is no longer any link between the customer and the miner.
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