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Topic: AMA: Ask a Veteran of Bitcoin (Read 1756 times)

legendary
Activity: 1498
Merit: 1000
June 22, 2013, 12:35:55 PM
#56
Q:  If you had to start today from scratch, but having all that knowledge.
1) would you mine
2) if so, mine with what? (considering vendors ASIC queues), difficulty, etc from a budget of few hundreds.
3) if all the above is positive, it it important to invest more to get better return?

1) I would have mined a bit but just to get startup capital to do more bussinesses.
2) GPUs until that died
3) no it is better do small investments and then when the returns are good make them bigger. Has yet to fail me.
legendary
Activity: 1498
Merit: 1000
June 22, 2013, 02:57:47 AM
#54
Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

That does make a lot of things true, sound scary. I wouldn't say FUD, but at some point will be faced with issues, like described in the video. Would I worry about it now, probably not. This is like future FUD, cause who knows what we will be dealing with when this is a critical issue.

What do you mean by future FUD and how far down a timeline in the future.
Also what does make a lot of things true???

Sorry put the previous question in a quote wasn't sure what you meant there

True enough a lot of GPU power would be needed to make a decent attack since ASIC's are specialized just pondering it
Still am impressed that they got mining before from TF2 so was just imagining a bunch of these running Amok lol
http://www.networkworld.com/news/2013/050113-bitcoin-hijacking-269312.html

I don't know when in the future, it may even get solved by then. But the blockchain is growing and a lot faster than, we expected, so off chain transactions would entirely be possible. But this is a ways off like maybe 10-15yrs and that is just me pulling numbers out.

You would need thousands if not hundreds of thousands of GPUs.

Blizzard installs bitcoin client onto WOW just kidding your right that would take too many computers even accounting for Moore's Law and was curious about that other question 10-15 years even as a guess seems like a decent warning time to figure it out.

That question went a bit longer than I meant it to so leaves this to the newbies and other members to ask a few questions Smiley

Thanks for all the replys  Cheesy

No problem
legendary
Activity: 1498
Merit: 1000
June 22, 2013, 01:47:16 AM
#50
Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

That does make a lot of things true, sound scary. I wouldn't say FUD, but at some point will be faced with issues, like described in the video. Would I worry about it now, probably not. This is like future FUD, cause who knows what we will be dealing with when this is a critical issue.

What do you mean by future FUD and how far down a timeline in the future.
Also what does make a lot of things true???


Will bitcoin hash on the cloud

What you mean hash on the cloud? If you mean mining pools, not really cause you need intense CPU power, so I think cloud computing isn't designed for that.

Was thinking a botnet type design using coordinated computers to mine think it's happened on a minor scale before
Basically a cloud network that instead of listing IP addresses and hunting them down just does coordinated mining instead that's not part of a pool or network sort of like BTCguild I guess. Or a Cloud Client for bitcoin
http://www.sophos.com/en-us/medialibrary/Gated%20Assets/white%20papers/sophosbotnetswpna.pdf

That's a bit of a weird one so maybe I'm thinking a bit odd there
Need to mull it over cellphone networks coordinating mining
(Just write that off as musings of a madman)




Botnets have mined before. So I guess it could work, but with ASIC you need a lot of computers all with GPUs.
legendary
Activity: 1498
Merit: 1000
June 22, 2013, 01:19:30 AM
#48
Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

That does make a lot of things true, sound scary. I wouldn't say FUD, but at some point will be faced with issues, like described in the video. Would I worry about it now, probably not. This is like future FUD, cause who knows what we will be dealing with when this is a critical issue.



Have you ever played notpron if so how far did you get
Nope.

Favorite Movie (Genre doesn't matter could be Pi)
Goodfellas, The Godfather part 1 and 2, A Bronx Tale, Die hard, Die Hard 2.

Will bitcoin hash on the cloud

What you mean hash on the cloud? If you mean mining pools, not really cause you need intense CPU power, so I think cloud computing isn't designed for that.
legendary
Activity: 1498
Merit: 1000
June 22, 2013, 12:52:47 AM
#46
Why did Satoshi leave in your opinion (Wikileaks etc)

Probably doesn't want to be the lighting rod for bitcoins.

Is Mtgox turning into a legacy system or will it keep being important to bitcoin and be difficult to replace
(As a joke would a Wizard be a better operator ^^)

Probably be around for a bit.

In your opinion will bitcoin theoretically by itself become an exchange through colored coins if a layered protocol was built onto of it

I need to see the prototype, there are a lot of theories going around, people need to do them, can't really theorize on these things. This is why it is experiment.
legendary
Activity: 1498
Merit: 1000
June 22, 2013, 12:22:35 AM
#44
Combo
Most ridiculous post on the forum/ Best post you have seen so far

I don't know about ridiculous seen so many. Best post, probably Hal's post, it always gets me.

Can you source that don't think I have read that one yet

https://bitcointalksearch.org/topic/m.1643833 it is very inspiring and always gets my heart strings. You should know his name kinda a big deal in Computer Science. http://en.wikipedia.org/wiki/Hal_Finney_(cypherpunk) Read about who he is then the the post.

Now that's cool stuff makes me wonder what skill-set a lot of the original members have and how popular was that cryptography mailing list
Also it makes me think, if someday we can use pure processing power of quantum scales to research diseases think Seti@home with ASIC's we might be able to combat diseases from another angle.
That was a good one thanks

That cryptography mailing list is very popular from what I understand. The original members are still mostly here, so they have skill-sets that got us here.
legendary
Activity: 1498
Merit: 1000
June 21, 2013, 11:45:23 PM
#42
Combo
Most ridiculous post on the forum/ Best post you have seen so far

I don't know about ridiculous seen so many. Best post, probably Hal's post, it always gets me.

Can you source that don't think I have read that one yet

https://bitcointalksearch.org/topic/m.1643833 it is very inspiring and always gets my heart strings. You should know his name kinda a big deal in Computer Science. http://en.wikipedia.org/wiki/Hal_Finney_(cypherpunk) Read about who he is then the the post.
legendary
Activity: 1498
Merit: 1000
June 21, 2013, 11:40:15 PM
#40
Combo
Most ridiculous post on the forum/ Best post you have seen so far

I don't know about ridiculous seen so many. Best post, probably Hal's post, it always gets me.
newbie
Activity: 15
Merit: 0
June 22, 2013, 06:04:32 AM
#39
Q:  If you had to start today from scratch, but having all that knowledge.
1) would you mine
2) if so, mine with what? (considering vendors ASIC queues), difficulty, etc from a budget of few hundreds.
3) if all the above is positive, it it important to invest more to get better return?
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 22, 2013, 02:53:50 AM
#38
Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

That does make a lot of things true, sound scary. I wouldn't say FUD, but at some point will be faced with issues, like described in the video. Would I worry about it now, probably not. This is like future FUD, cause who knows what we will be dealing with when this is a critical issue.

What do you mean by future FUD and how far down a timeline in the future.
Also what does make a lot of things true???

Sorry put the previous question in a quote wasn't sure what you meant there

True enough a lot of GPU power would be needed to make a decent attack since ASIC's are specialized just pondering it
Still am impressed that they got mining before from TF2 so was just imagining a bunch of these running Amok lol
http://www.networkworld.com/news/2013/050113-bitcoin-hijacking-269312.html

I don't know when in the future, it may even get solved by then. But the blockchain is growing and a lot faster than, we expected, so off chain transactions would entirely be possible. But this is a ways off like maybe 10-15yrs and that is just me pulling numbers out.

You would need thousands if not hundreds of thousands of GPUs.

Blizzard installs bitcoin client onto WOW just kidding your right that would take too many computers even accounting for Moore's Law and was curious about that other question 10-15 years even as a guess seems like a decent warning time to figure it out.

That question went a bit longer than I meant it to so leaves this to the newbies and other members to ask a few questions Smiley

Thanks for all the replys  Cheesy
legendary
Activity: 1498
Merit: 1000
June 22, 2013, 02:27:07 AM
#37
Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

That does make a lot of things true, sound scary. I wouldn't say FUD, but at some point will be faced with issues, like described in the video. Would I worry about it now, probably not. This is like future FUD, cause who knows what we will be dealing with when this is a critical issue.

What do you mean by future FUD and how far down a timeline in the future.
Also what does make a lot of things true???

Sorry put the previous question in a quote wasn't sure what you meant there

True enough a lot of GPU power would be needed to make a decent attack since ASIC's are specialized just pondering it
Still am impressed that they got mining before from TF2 so was just imagining a bunch of these running Amok lol
http://www.networkworld.com/news/2013/050113-bitcoin-hijacking-269312.html

I don't know when in the future, it may even get solved by then. But the blockchain is growing and a lot faster than, we expected, so off chain transactions would entirely be possible. But this is a ways off like maybe 10-15yrs and that is just me pulling numbers out.

You would need thousands if not hundreds of thousands of GPUs.
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 22, 2013, 02:04:09 AM
#36
Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

That does make a lot of things true, sound scary. I wouldn't say FUD, but at some point will be faced with issues, like described in the video. Would I worry about it now, probably not. This is like future FUD, cause who knows what we will be dealing with when this is a critical issue.

What do you mean by future FUD and how far down a timeline in the future.
Also what does make a lot of things true???

Sorry put the previous question in a quote wasn't sure what you meant there

True enough a lot of GPU power would be needed to make a decent attack since ASIC's are specialized just pondering it
Still am impressed that they got mining before from TF2 so was just imagining a bunch of these running Amok lol
http://www.networkworld.com/news/2013/050113-bitcoin-hijacking-269312.html
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 22, 2013, 01:41:19 AM
#35
Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

That does make a lot of things true, sound scary. I wouldn't say FUD, but at some point will be faced with issues, like described in the video. Would I worry about it now, probably not. This is like future FUD, cause who knows what we will be dealing with when this is a critical issue.

What do you mean by future FUD and how far down a timeline in the future.
Also what does make a lot of things true???


Will bitcoin hash on the cloud

What you mean hash on the cloud? If you mean mining pools, not really cause you need intense CPU power, so I think cloud computing isn't designed for that.

Was thinking a botnet type design using coordinated computers to mine think it's happened on a minor scale before
Basically a cloud network that instead of listing IP addresses and hunting them down just does coordinated mining instead that's not part of a pool or network sort of like BTCguild I guess. Or a Cloud Client for bitcoin
http://www.sophos.com/en-us/medialibrary/Gated%20Assets/white%20papers/sophosbotnetswpna.pdf

That's a bit of a weird one so maybe I'm thinking a bit odd there
Need to mull it over cellphone networks coordinating mining
(Just write that off as musings of a madman)

legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 22, 2013, 01:04:25 AM
#34
Last set for today feels like I'm grilling a Friedcat already  Wink

That and I think I scare the newbies away with these tough questions on a thread where they should all be aiming for 5 posts to be free!!!
So posts some easy ones as well

Regarding this campaign I have read its FUD but can you explain what makes it FUD or not
Been pondering it myself
http://keepbitcoinfree.org/
http://www.youtube.com/watch?feature=player_embedded&v=cZp7UGgBR0I

General questions
Have you ever played notpron if so how far did you get
Favorite Movie (Genre doesn't matter could be Pi)
Will bitcoin hash on the cloud

Thanks
Free for now  Cool
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 22, 2013, 12:40:27 AM
#33
Wonder if that mailing list still works sees a cache wonder if I can apply to a cache ha-ha maybe it was owned by Satoshi
The skills of those original members has made bitcoin go far.

Given you came after the era of satoshi wonder if any veterans have a guess
Why did Satoshi leave in your opinion (Wikileaks etc)

If that one is to general
Is Mtgox turning into a legacy system or will it keep being important to bitcoin and be difficult to replace
(As a joke would a Wizard be a better operator ^^)

One more
In your opinion will bitcoin theoretically by itself become an exchange through colored coins if a layered protocol was built onto of it
(A truly decentralized exchange)
Related to this whitepaper
https://bitcoil.co.il/BitcoinX.pdf
Or something else (State alternative here such as the Status Quo)
That paper states quite a few options in itself but just in case  Wink
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 22, 2013, 12:14:38 AM
#32
Combo
Most ridiculous post on the forum/ Best post you have seen so far

I don't know about ridiculous seen so many. Best post, probably Hal's post, it always gets me.

Can you source that don't think I have read that one yet

https://bitcointalksearch.org/topic/m.1643833 it is very inspiring and always gets my heart strings. You should know his name kinda a big deal in Computer Science. http://en.wikipedia.org/wiki/Hal_Finney_(cypherpunk) Read about who he is then the the post.

Now that's cool stuff makes me wonder what skill-set a lot of the original members have and how popular was that cryptography mailing list
Also it makes me think, if someday we can use pure processing power of quantum scales to research diseases think Seti@home with ASIC's we might be able to combat diseases from another angle.
http://money.cnn.com/2013/05/23/technology/enterprise/bitcoin-supercomputers/
That was a good one thanks
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 21, 2013, 11:42:35 PM
#31
Combo
Most ridiculous post on the forum/ Best post you have seen so far

I don't know about ridiculous seen so many. Best post, probably Hal's post, it always gets me.

Can you source that don't think I have read that one yet
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
June 21, 2013, 11:34:46 PM
#30
Combo
Most ridiculous post on the forum/ Best post you have seen so far
newbie
Activity: 28
Merit: 0
June 21, 2013, 11:30:52 PM
#29
Is a 51% attack possible?
legendary
Activity: 1498
Merit: 1000
June 21, 2013, 11:06:20 PM
#28

1) When the eco-system can disrupt areas where content creators will get paid better.


Can you elaborate on this one .... not sure what you mean?

So think about it, to accept money from someone and to send it to someone else, which is what content sites do. They are middle men, so any site that is a middle man like that, rack up a lot of fees. Bitcoin can come in their make it so content creators get more, cause our payments don't have these huge fees, we don't have to worry about chargebacks, which is something most companies like that have to actually budget it in. I am close to releasing a site like this, so it hard without examples but hopefully I answered your question.
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