Topic: [Archive] BFL trolling museum - page 121. (Read 69394 times)

You were told it's from Enterpoint thread and still you were asking for a link --> LAZY!!!! I stripped all the trollfaces and other extra stuff and just posted the important part.

You took the time to quote, but stripped the url.  Don't be calling me lazy when you don't know how to properly cite your sources.

Cool down. You didn't understand me : what I'm wondering if they based their business model on their ability to sell the same unit to several customers.

Stick this up to your lazy ass

https://bitcointalksearch.org/topic/m.971874

I'm not your personal slave.

Makes you wonder why they even bother watching Enterpoint thread ? feel a strong competitor ?

Link or it didn't happen.

They started trolling the Enterpoint thread.

Which thread?  A quote with no real attribution means nothing.

The Vlad thread was a bit of a shit show.  The open source one has mostly gone unnoticed.

Posted in another thread.

some thoughts:
ASICs will not be publicly available before summer of 2013.
GPUs and FPGAs are more versatile to protocol or algorithm changes.
If btc goes down other currencies will come up, cryptocurrency economy will not go away! (God bless internet!)

Why exactly would that be better than BFL as long as BFL is for real (so far they have been).

Seems to me that ASIC is ASIC and will produce the same result no matter who does it and SOMEONE will.

If it was Vladamir or open ASIC project would it be the same inflammatory/derogatory thread I see here?

There is competing projects such as Vladamir's ASIC mining company and the open ASIC project. Maybe they come out first

Oh boy, I'm just beginning to truly realize what a mess an algorithm change will be...

Even assuming a best case scenario - people don't have TENS OF THOUSANDS OF DOLLARS in ASICs to pay off yet - bitstreams and miners need to be changed and it will take MONTHS, it's going to be slow, the new fork (with the better algorithm) will generate mostly worthless coins for the moment (since very few are involved in it) so people will insist on staying on the old fork, with the vulnerability, arguments will arise not to mention the severe confidence hit Bitcoin will take. A lot of people will dump their coins when they hear Bitcoin is vulnerable to the very core and their money's security depends on using a fork that very few miners support. Not to mention that every merchant and service provider using Bitcoin will have to change their entire infrastructure... Holy shit, it's a nightmare. And that's the BEST case scenario...

The WORST case scenario is that ASICs have a good chunk of the hashing power. In that case that entire chunk is there to stay. Since ASICs can't be updated and the miners have lots of money invested in them, they would lose all of their investments if they would support the new fork. So they won't support it. Therefore the new fork will be reserved to a few percent of the hashing power and the old fork will carry on with the vulnerability. So the change would come at a dead slow pace and it could be enough to make Bitcoin dead in the water.

Either way, a hashing algorithm change is extremely likely to be disastrous for Bitcoin. The entire infrastructure would need updating, specialized hardware would need to be thrown out rendering tens, maybe hundreds of thousands of dollars lost. The dead slow updating and people insisting on keeping a vulnerable fork could be the final nail in the coffin.

Now that I managed to scare myself shitless regarding the future, can somebody tell me I'm wrong and how can all this be easily mitigated?

Maybe starting the updating procedure a year or so in advance, before any vulnerability is discovered, giving time to everyone to update slowly and be prepared. The new fork could start as a test net of sorts and be reset when it's decided to start the fork proper.

... and everyone owns a ferrari coz they've been making street cars for 65 years ...

Is this a joke? ASICs exists for what, 30? 40? years. Of course if everyone is using only GPU and FPGA, someone WILL make an ASIC. It doesn't take a genius to guess that. "Planning that"? Welcome in the computing world, it's 50+ years old, making a specific hardware wich is faster than generic things like fpga or gpu is nothing new lol

No, both the users and the exchanges will follow the chain that the leading pools and solo miners will support - the other one will be too vulnerable to a 51% attack, regardless of the algorithm.

If a fork actually occur, I think many people will decide to follow the chain that the leading exchanges (MtGox, etc) will support.

Unlike the debacle back in April, what would happen is a future time/block would be decided to implement the changes.

Up to that point everyone is on the same chain.

At that port it forks, and everyone who hasn't updated will be on one fork while everyone who has updated will be on the other fork.

What actually happens next ... well that depends on the % of who decides what.

I guess those with asics and the security problem may stay on their risk fork and everyone else will be on the new fork.
Though if asics are most of the network by then and they want to keep the security risk, I guess BTC stays a security risk - bye bye BTC