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Author Topic: Putting your money where Pirate's mouth is.  (Read 68299 times)
Vandroiy
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July 14, 2012, 12:05:07 AM
 #401

I run all of my hashing power through gpumax and imsaguy is correct. There has not been much public work. Us "in the know" call it leasing.

Okay... does this mean you are getting fresh coins?

That's the main point actually. Is there a lot of hashpower used on work that is paid with coins that have history? How big is the fraction of clean or relatively new coins?

Edit: "I run all of my hashing power through gpumax" is the important part here -- so they control which coins you get, no?
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Vandroiy
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July 14, 2012, 12:29:20 AM
 #402

No, dumbshit.

Any answers by people that haven't been blacklisted for ages?
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July 14, 2012, 12:33:17 AM
 #403

No, dumbshit.

Any answers by people that haven't been blacklisted for ages?

Hi Vandroiy,

I'll help you out since you are asking but it's a pretty simple concept. GPUMAX is a "proxy" that points my hashing power to my pool when they are not leasing shares. This means that my pool pays me my coins in this case.

When GPUMAX sells shares, coins are received from people who paid in BTC to lease them.

That's it.
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July 14, 2012, 12:37:11 AM
 #404

Hehe Cheesy

Vandroiy
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July 14, 2012, 12:51:19 AM
 #405

gigavps: So, it all boils down to the question of throughput of these leased shares. What fraction of gpumax mining happens on them?

I just got a private response that claimed 30% premium was typical, and it used to be better? Now, guys, something doesn't add up here. Who would pay a "typical" 30% while a majority just forwards with no premium?

It's probably better if we all wait for some feedback from the miner thread. Hell knows which account belongs to whom here.
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July 14, 2012, 12:56:58 AM
 #406

I just can't believe how out of your depth you are with this stuff Roll Eyes

Way to make a bet without any facts.  Sheesh.

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July 14, 2012, 12:59:59 AM
 #407

gigavps: So, it all boils down to the question of throughput of these leased shares. What fraction of gpumax mining happens on them?

I just got a private response that claimed 30% premium was typical, and it used to be better? Now, guys, something doesn't add up here. Who would pay a "typical" 30% while a majority just forwards with no premium?

It's probably better if we all wait for some feedback from the miner thread. Hell knows which account belongs to whom here.

Vandroiy,

I must say that your knee jerk reactions to pirate's businesses are going to cost you a lot of money. You would do well to start reading more and typing less.

Best,
gigavps
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July 14, 2012, 01:20:10 AM
 #408

I should've noticed that VIP badge earlier.

*sigh*

You can flood all you want, I'm getting confirmations and you just burned another kinky last year's account.

The fluctuations in workload will be hard to explain from the outside. But this is not important; even 30% of the workload of a system this size has considerable coin throughput.



We're now at "No, we're laundering something else!!!!1" as an excuse, and even that does not sound right. Maybe my estimates of the BS&T deposit curve are just wrong. I hear about lots of workload earlier this year, when BS&T was already growing neatly.

Wow, so my timing was off. So where did all the leasing earlier come from, then? Tongue
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July 14, 2012, 01:27:06 AM
 #409

All jokes aside, I'm honestly starting to think you might have mental health issues :/

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July 14, 2012, 01:31:02 AM
 #410

Grasping at straws in this thread again, are we?

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July 14, 2012, 01:40:44 AM
 #411

Grasping at straws in this thread again, are we?

If by straws you mean a substantial fraction of the coin output of Gpumax, yes.

I'm also logging which accounts keep flooding away my posts, just for later use. I wasn't expecting you to join.
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July 14, 2012, 02:10:45 AM
 #412

Grasping at straws in this thread again, are we?

If by straws you mean a substantial fraction of the coin output of Gpumax, yes.

I'm also logging which accounts keep flooding my threads, just for later use. I wasn't expecting you to join.
Your thread, my ass. Anyways, that's beside the point.

Is it a problem if the wallets of both services are one and the same, as long as the book keeping is separate and accurate?
If you cared to read the GPUMAX thread more carefully, you would be able to easily find out how it works. But since I'm feeling a little nice tonight, I'll humor you by explaining it.

First main point: Any miner with an account can point hash power at it. By default, all hash power is proxied to the "offline pool", which means an external pool. For the purposes of an example, I would point my miners at GPUMAX, and my hash power would be proxied to Eclipse. The offline pool can be any pool you want it to be, such as Ozcoin, EMC, Slush, etc.

Second main point: You can choose to be paid more for your hash power by allowing GPUMAX to redirect it to the pools of those that pay for the service. You set the price per share that you are willing to be paid. If the price is too high, your hash power continues to go to the offline pool and you are not paid extra. If the price you set is around market price, or if it is set absurdly low (market price varies), your hash power is then removed from your offline pool and directed to the pool of the person who purchased the hash power. This assumes that "purchases are running", which they may not be all the time.

Third main point: As a purchaser, you are forced to pay a fixed price on two levels - normal priority, and high priority. The "fixed" price actually varies based on what miners are asking for their PPS price, but you cannot adjust it as a buyer in order to raise or lower your bid, except for the 2 priority levels. This makes it somewhat of a one-sided market, although the PPS price of faster miners has more weight that that of slower miners.

Fourth main point: As a purchaser, you are provided with a fixed deposit address that is unique to you. As a miner, you must set a payout address if you wish to be paid for your work.

Fifth main point: As a purchaser, the hash power you pay for must be directed at a small list of whitelisted compatible pools. You cannot mine to your own dark pool, or p2pool, or uncle bob's brand new prop pool that he just set up 3 days ago.

Sixth main point: As a purchaser, the ability to throw around 400-600 or even more gh/s of power to some of the big main pools basically on demand is very useful and profitable, if done with a bit of common sense. This is why you will pay a premium to use the service. Furthermore, a fee of 10% is collected on purchases by GPUMAX for their own coffers. The maximum purchase is currently 2 million shares, which at current market price will cost you BTC81.4 for normal priority, or BTC89.34 at high priority.

Final point: The accounts that are being mined to are not under control of GPUMAX, and the payout from them is sent directly to you. GPUMAX uses the above mentioned fee to be able to provide the service to so many people.

I hope this helps in your understanding of how the system works, and serves to illustrate how it is unlikely to be a component in the BS&T operation. It cannot be used effectively as a money laundering tool, because the throughput just isn't there. If we assumed that a 2 million share purchase would run continuously at 800gh/s, it would still take a little bit of time for that to complete, which means your laundering operation would be slow and allow very few coins through per day.

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RoloTonyBrownTown
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July 14, 2012, 02:11:38 AM
 #413

Grasping at straws in this thread again, are we?

If by straws you mean a substantial fraction of the coin output of Gpumax, yes.

I'm also logging which accounts keep flooding away my posts, just for later use. I wasn't expecting you to join.



If by flooding you mean posting, then tough shit princess, better get used to it.  This is a discussion forum, not your personal site to act weird on.

Good move editing out the part about this being your thread as well.  I had a nice reply typed up for that.

Also, if you think people care enough about what you're saying to actively try and force your posts away (which at most would push them a few spots up, oh no!), you're more deluded that I thought.   In fact, if that were the case, those people would be much better off just leaving your posts where they are (rather than a few posts up, oh no!) as you're doing a great job of coming across like a raving lunatic.

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July 14, 2012, 04:55:13 AM
 #414


... Excellent description of GPUMAX...


OK I am going to use GPUMAX to launder some coins.  I take 90 of my dirty BTC and send them to GPUMAX.  10% of these dirty coins go directly to Pirate, the rest get sent out to all the miners doing my "dirty work" for me.  Let's assume I pointed the GPUMAX purchase to deepbit (I know, gasp).  After my purchase is complete deepbit will pay me my share of what coins were earned from their wallet.  This is just a bunch of coins, some new, some old, some dirty (most old coins are).

So darn.  That just did not work the way you told me it would.

And I still have 40,000 - 90 BTC to wash!  This is going to take forever...

Why you flooding his thread bro?  Clearly you must have your nose up pirate's ass.  Roll Eyes

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July 14, 2012, 05:57:04 AM
 #415

No, dumbshit.

Any answers by people that haven't been blacklisted for ages?

Hi Vandroiy,

I'll help you out since you are asking but it's a pretty simple concept. GPUMAX is a "proxy" that points my hashing power to my pool when they are not leasing shares. This means that my pool pays me my coins in this case.

When GPUMAX sells shares, coins are received from people who paid in BTC to lease them.

That's it.

Isn't that what I said?

Close enough.

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July 14, 2012, 09:49:21 AM
 #416

No, I just have 40K dirty BTC I need to wash.  This GPUMAX laundry is way too slow.  Does anyone else have any bright ideas on how I can clean up these dirty 40K coins?
Vandroiy didn't say *you* can wash coins with GPUMAX. He said Pirate uses to wash his own coins. One way to do that would be paying miners with coins from BS&T, while keeping freshly mined coins to himself. Everything I heard confirms that this is happening, at least in part. But what I do not know is if the throughput is big enough to wash a significant part of BS&T money.
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July 14, 2012, 10:40:11 AM
 #417

By the way, Pirateat40 keeps making some subtle grammatical errors that non-native-English speakers rarely notice, but which, nevertheless, a native English speaker would not make. His English is pretty good, but I still doubt that he is of American or British origin.

I see plenty of native english speakers around here who can't tell the difference between THERE, THEIR and THEY'RE... and it's just a little example as there are much more.
Being born/raised in a certain country doesn't make you literate in that language.

What was your point again?

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July 14, 2012, 10:46:59 AM
 #418

im I'm an american. and Have you seen my me type?

FTFY
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July 14, 2012, 10:48:54 AM
 #419

lol, im an american and have you seen my type? oh lulz  Roll Eyes

Goat, I can honestly say I have never quite seen your type before Wink

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July 14, 2012, 10:51:50 AM
 #420

I see plenty of native english speakers around here who can't tell the difference between THERE, THEIR and THEY'RE... and it's just a little example as there are much more.
Being born/raised in a certain country doesn't make you literate in that language.

True, but some errors are typical and widespread, while some others are untypical for native English speakers. For example, would any native English speaker ever say:

"I hope you soon realize …"
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