Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1041. (Read 3917543 times)

Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Asicminers usage of satoshies/dust at least has real utility.

What is the utility? (honest question)

It verifies the amount of shares held by each shareholder on a schedule.

Not only this, but its in the blockchain FOREVER... not some spreadsheet that can just disappear or be changed. If someone wants to know how many shares I have, I can prove it by signing the div address... how would I prove ownership with a spreadsheet? Sure there are ways... but considering the block chain is available and can handle the function nicely, its a good use.

The percentage of the dividends received on your address is as good a proof as the sathoshis themselves, if not better, considering that they're not spam. And they're also forever on the blockchain. There's an easily done deterministic process to go from percentage of dividend received on a given time to amount of shares owned...

runeks

legendary

Activity: 980

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I finally finished coding the calculations of the 24-hour, 3-day and 7-day average hash rates for solo mining. You can view it here:

http://runeks.dk/bitcoin/

The graph looks like this:

As you can see, we've seen a significant ramp-up in the solo hash rate in the past couple of days.

24-hour average is quite jumpy, but it seems we're sailing at a comfortable cruise speed of around 17 Thash/s right now.

Oh, and the chart updates every time new ASICMiner blocks come in, although you'll have to refresh the page to see the changes.

aahzmundus

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Quote from: ThickAsThieves on May 30, 2013, 09:07:25 AM

Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Asicminers usage of satoshies/dust at least has real utility.

What is the utility? (honest question)

It verifies the amount of shares held by each shareholder on a schedule.

Not only this, but its in the blockchain FOREVER... not some spreadsheet that can just disappear or be changed. If someone wants to know how many shares I have, I can prove it by signing the div address... how would I prove ownership with a spreadsheet? Sure there are ways... but considering the block chain is available and can handle the function nicely, its a good use.

ThickAsThieves

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Activity: 518

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Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Asicminers usage of satoshies/dust at least has real utility.

What is the utility? (honest question)

It verifies the amount of shares held by each shareholder on a schedule.

Factory

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Activity: 259

Merit: 250

Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Asicminers usage of satoshies/dust at least has real utility.

What is the utility? (honest question)

Returning capital to shareholders so that they may continue to support and grow the bitcoin-based economy.

Rant2112

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Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Asicminers usage of satoshies/dust at least has real utility.

What is the utility? (honest question)

Lohoris

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Activity: 630

Merit: 500

Bitgoblin

Quote from: daemondazz on May 30, 2013, 08:38:48 AM

So you're the kind of person that if a store undercharges you (by giving you too much change back) you don't be honest and correct the mistake? If I was the store owner and noticed that you had been undercharged and then asked you to pay the difference and you refused, you don't think I'd have the right to ban you from the store, since what you are essentially doing is stealing?

Of course not, I already said I was willing to return the money.

I am only stating that "return it or I ban you" is a logic nonsense, because it is perfectly equivalent to a forced refund, so you should have said "do a forced refund" instead.

Either it is voluntary or it is forced.

Your suggestion was to make it appear voluntary but be forced in practice, and that is VERY BAD™.

Please bear in mind I don't think you did that on purpose, likely you didn't notice your mistake, and I'm so anal I wanted to point it out (to prevent anyone, in future, from thinking it was a good suggestion).
Please take no offence, and sorry if my tone was rude, I did't mean to.

ps: again, I'm not saying that a forced refund is bad (though many did say it, and with many good reasons), I'm saying that if you do so, it must be crystal clear what is happening, as opposite to pretending it is something else.

Factory

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Quote from: ThickAsThieves on May 30, 2013, 07:19:02 AM

I'd argue the blockchain is supposed to do whatever people can do with it. Anything unwanted is a design flaw, not a user flaw.

This sums it up quite well.

daemondazz

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Quote from: Lohoris on May 30, 2013, 04:50:41 AM

Quote from: daemondazz on May 30, 2013, 12:49:59 AM

I'd suggest anyone who hasn't, and refuses to return the double div, be blacklisted from btct.co.

This is totally nonsense.
One of the biggest piles of nonsense I've ever witnessed.

The whole point of "returning the funds" is that you return them at your own will, as opposite to forcing you to return them.
So you are suggesting that you do "at your own will OR ELSE you get banned"... lol I'm astonished on how utterly broken this "suggestion" is.

I mean, I know this problem has been solved now, but noticing such an enormous amount of broken-ness in just a single post amazed me, I couldn't refrain from replying.

So you're the kind of person that if a store undercharges you (by giving you too much change back) you don't be honest and correct the mistake? If I was the store owner and noticed that you had been undercharged and then asked you to pay the difference and you refused, you don't think I'd have the right to ban you from the store, since what you are essentially doing is stealing?

rdponticelli

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Activity: 325

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Our highest capital is the Confidence we build.

Quote from: physalis on May 30, 2013, 07:14:13 AM

Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Quote from: Lohoris on May 30, 2013, 07:47:56 AM

Will the new bitcoin client cause a problem for ASICMINER by limiting dust transactions or can ASICMINER now relay their own Satoshi size transactions?

Well, they can, but they should really stop spamming the blockchain regardless :/

Spamming the blockchain? Asicminer do it once a week, in a big transaction... go blame SDice for spam. Asicminers usage of satoshies/dust at least has real utility.

It's a matter of principle, and regardless of how often it happens, it's spam. The blockchain isn't supposed to transmit arbitrary data like "you own that many shares" or "it's xx degrees here in florida".

And we can add that this particular transaction doesn't add any significant information. IMHO it would be way better maintaining a public spreadsheet where shareholders can verify theirs holdings some time before the dividends, in case they have to claim something. But this process of marking holding, followed immediately by dividends, is way, way pointless and harmful...

muyuu

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Quote from: ThickAsThieves on May 30, 2013, 07:19:02 AM

I'd argue the blockchain is supposed to do whatever people can do with it. Anything unwanted is a design flaw, not a user flaw.

+1

if this kind of transaction bothers anyone, he should press for mandatory fees or something like that, but as long as the protocol allows it, then you should blame the protocol.

The protocol says that miners decide which transactions go in and which don't.

Vote by mining in a pool with a policy you agree with. This is why I mine with Eligius.

This is probably not a sufficient solution in all cases, but thinking that any transaction allowed by a protocol has to happen is also untrue.

bitfair

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Looking forward to today's update, looks like deployment has progressed the last week and sales are strong.

Would also be interested in hearing where in the process the 200TH order is, and how far the planning for next-gen chips has progressed.

Lohoris

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Activity: 630

Merit: 500

Bitgoblin

Quote from: ThickAsThieves on May 30, 2013, 07:19:02 AM

I'd argue the blockchain is supposed to do whatever people can do with it. Anything unwanted is a design flaw, not a user flaw.

+1

if this kind of transaction bothers anyone, he should press for mandatory fees or something like that, but as long as the protocol allows it, then you should blame the protocol.

ThickAsThieves

hero member

Activity: 518

Merit: 500

Quote from: physalis on May 30, 2013, 07:14:13 AM

Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Quote from: aahzmundus on May 30, 2013, 03:59:51 AM

Will the new bitcoin client cause a problem for ASICMINER by limiting dust transactions or can ASICMINER now relay their own Satoshi size transactions?

Well, they can, but they should really stop spamming the blockchain regardless :/

Spamming the blockchain? Asicminer do it once a week, in a big transaction... go blame SDice for spam. Asicminers usage of satoshies/dust at least has real utility.

It's a matter of principle, and regardless of how often it happens, it's spam. The blockchain isn't supposed to transmit arbitrary data like "you own that many shares" or "it's xx degrees here in florida".

I'd argue the blockchain is supposed to do whatever people can do with it. Anything unwanted is a design flaw, not a user flaw.

physalis

sr. member

Activity: 392

Merit: 250

Quote from: daemondazz on May 30, 2013, 12:49:59 AM

Will the new bitcoin client cause a problem for ASICMINER by limiting dust transactions or can ASICMINER now relay their own Satoshi size transactions?

Well, they can, but they should really stop spamming the blockchain regardless :/

Spamming the blockchain? Asicminer do it once a week, in a big transaction... go blame SDice for spam. Asicminers usage of satoshies/dust at least has real utility.

It's a matter of principle, and regardless of how often it happens, it's spam. The blockchain isn't supposed to transmit arbitrary data like "you own that many shares" or "it's xx degrees here in florida".

Lohoris

hero member

Activity: 630

Merit: 500

Bitgoblin

I'd suggest anyone who hasn't, and refuses to return the double div, be blacklisted from btct.co.

This is totally nonsense.
One of the biggest piles of nonsense I've ever witnessed.

The whole point of "returning the funds" is that you return them at your own will, as opposite to forcing you to return them.
So you are suggesting that you do "at your own will OR ELSE you get banned"... lol I'm astonished on how utterly broken this "suggestion" is.

I mean, I know this problem has been solved now, but noticing such an enormous amount of broken-ness in just a single post amazed me, I couldn't refrain from replying.

aahzmundus

hero member

Activity: 644

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Invest & Earn: https://cloudthink.io

Quote from: freedomno1 on May 30, 2013, 02:36:06 AM

Will the new bitcoin client cause a problem for ASICMINER by limiting dust transactions or can ASICMINER now relay their own Satoshi size transactions?

Well, they can, but they should really stop spamming the blockchain regardless :/

Spamming the blockchain? Asicminer do it once a week, in a big transaction... go blame SDice for spam. Asicminers usage of satoshies/dust at least has real utility.

fiaskow

newbie

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Merit: 0

Quote from: Thujone on May 30, 2013, 12:43:03 AM

Has anyone seen their ASICMINER-PT divs come in yet?

Got mine

Got mine too.

freedomno1

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Learning the troll avoidance button :)

Quote from: Thujone on May 30, 2013, 12:43:03 AM

Has anyone seen their ASICMINER-PT divs come in yet?

Got mine

Luke-Jr

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