change the algorithm to exclude the ASICMINER devices
Not sure if you are joking or not. How is that possible?
Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1117. (Read 3917568 times)
Not sure if you are joking or not. How is that possible?
1. Make a bitbet that says X altcoin will fall to some very low value.
2. Spam that bet in trollbox
3. Use AM's mined altcoins to crash that coin the day before the bet expires.
4. Profit.
5. Altcoiners realize altcoins really are too risky, and get back into bitcoin
6. Altcoiners see that AM is the best asset to invest in and buy shares
7. Profit.
2. Spam that bet in trollbox
3. Use AM's mined altcoins to crash that coin the day before the bet expires.
4. Profit.
5. Altcoiners realize altcoins really are too risky, and get back into bitcoin
6. Altcoiners see that AM is the best asset to invest in and buy shares
7. Profit.
Now, THAT's a business plan!
ASICMINER works for mining any SHA-256 alt coin pretty well. I mined today TRC and later PPC. Today morning profitability of TRC vs BTC was 187%. People jumped mining it and difficulty went from 12000 to 120000 in few hours profitability dropped to 37%. So, question is not if ASICMINER can mine alt coins or not, but if it make any sense to do.
it probably does not make sense.
AM could easily contribute > 50% to any sha256 altcoin...basically destroying it.
if AM were to use a small (relative) amount of hash power on an altchain, they would still need to dump the coins on the market. the huge dumps everyday would dramatically reduce the price of the coin.
not worth the time.
Destroying a couple useless alt-coins would probably be a good deed though. As long as it's profitable, why not?
that's the reason why bitcoin is superior to all sha256 altcoins. in theory asicminer alone could just screw them, which might even be a good practical idea from time to time. scrypt however somehow makes sense as a real, smaller alternative to bitcoin.. something like silver compared to gold.
Except PPC, AM hash rates can go up 10X and still pose nearly no threat to the PPC chain.
ASICMINER works for mining any SHA-256 alt coin pretty well. I mined today TRC and later PPC. Today morning profitability of TRC vs BTC was 187%. People jumped mining it and difficulty went from 12000 to 120000 in few hours profitability dropped to 37%. So, question is not if ASICMINER can mine alt coins or not, but if it make any sense to do.
it probably does not make sense.
AM could easily contribute > 50% to any sha256 altcoin...basically destroying it.
if AM were to use a small (relative) amount of hash power on an altchain, they would still need to dump the coins on the market. the huge dumps everyday would dramatically reduce the price of the coin.
not worth the time.
Destroying a couple useless alt-coins would probably be a good deed though. As long as it's profitable, why not?
1. Make a bitbet that says X altcoin will fall to some very low value.
2. Spam that bet in trollbox
3. Use AM's mined altcoins to crash that coin the day before the bet expires.
4. Profit.
5. Altcoiners realize altcoins really are too risky, and get back into bitcoin
6. Altcoiners see that AM is the best asset to invest in and buy shares
7. Profit.
If you destroy what you mine, how is that "profitable"?
If you destroy it through a profitable last dump, it's doable. Then you switch immediately and never look back.
The proliferation of me-too coins is an argument of the naysayers, too. Inflation though "substitutable coins". Coins that don't contribute anything to the cryptocurrency landscape should be ravaged. Plain and simple.
ASICMINER works for mining any SHA-256 alt coin pretty well. I mined today TRC and later PPC. Today morning profitability of TRC vs BTC was 187%. People jumped mining it and difficulty went from 12000 to 120000 in few hours profitability dropped to 37%. So, question is not if ASICMINER can mine alt coins or not, but if it make any sense to do.
it probably does not make sense.
AM could easily contribute > 50% to any sha256 altcoin...basically destroying it.
if AM were to use a small (relative) amount of hash power on an altchain, they would still need to dump the coins on the market. the huge dumps everyday would dramatically reduce the price of the coin.
not worth the time.
Destroying a couple useless alt-coins would probably be a good deed though. As long as it's profitable, why not?
that's the reason why bitcoin is superior to all sha256 altcoins. in theory asicminer alone could just screw them, which might even be a good practical idea from time to time. scrypt however somehow makes sense as a real, smaller alternative to bitcoin.. something like silver compared to gold.
ASICMINER works for mining any SHA-256 alt coin pretty well. I mined today TRC and later PPC. Today morning profitability of TRC vs BTC was 187%. People jumped mining it and difficulty went from 12000 to 120000 in few hours profitability dropped to 37%. So, question is not if ASICMINER can mine alt coins or not, but if it make any sense to do.
it probably does not make sense.
AM could easily contribute > 50% to any sha256 altcoin...basically destroying it.
if AM were to use a small (relative) amount of hash power on an altchain, they would still need to dump the coins on the market. the huge dumps everyday would dramatically reduce the price of the coin.
not worth the time.
Destroying a couple useless alt-coins would probably be a good deed though. As long as it's profitable, why not?
ASICMINER works for mining any SHA-256 alt coin pretty well. I mined today TRC and later PPC. Today morning profitability of TRC vs BTC was 187%. People jumped mining it and difficulty went from 12000 to 120000 in few hours profitability dropped to 37%. So, question is not if ASICMINER can mine alt coins or not, but if it make any sense to do.
it probably does not make sense.
AM could easily contribute > 50% to any sha256 altcoin...basically destroying it.
if AM were to use a small (relative) amount of hash power on an altchain, they would still need to dump the coins on the market. the huge dumps everyday would dramatically reduce the price of the coin.
not worth the time.
ASICMINER works for mining any SHA-256 alt coin pretty well. I mined today TRC and later PPC. Today morning profitability of TRC vs BTC was 187%. People jumped mining it and difficulty went from 12000 to 120000 in few hours profitability dropped to 37%. So, question is not if ASICMINER can mine alt coins or not, but if it make any sense to do.
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
It does matter. What if the attacker was a government? They don't have to try to stop Bitcoin. They just have to sieze that one operator of 50+% mining, and suddenly they have the whole network.
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
I hope AM forks the blockchain and proportionally transfers all BTC to their shareholders.
Then Bitcoin shall be known henceforth as FriedCoin.
i.e. no it wont happen.
I tried asking this in one of the auction threads but got no response, is there any way to verify the people auctioning off direct shares? I would like to make a significant purchase but simply can't due to lack of information. Can someone at ASICMiner (with the seller's permission of course) confirm shares being auctioned are legitimate?
If in doubt, use an escrow. Here is a thread about forum escrows: https://bitcointalksearch.org/topic/escrow-list-108716 (may be outdated).
Basically, direct share owners are identified by the Bitcoin addresses on file with friedcat. These addresses receive 1 Satoshi per share every week, which you can view through any Bitcoin block explorer. You can use this data to derive the number of shares the address owns at the time of dividend payment.
Always ask the seller to digitally sign the intent of sale using this address (using bitcoin-qt or a similar tool of your choosing), especially if you chose not to use an escrow. This way, you will know that they are the real recipient of dividends to this address, and not declaring someone else's address as their own. Also, if clearly worded, you may use such a signed intent of sale document to resolve any dispute that may occur.
Again, if in doubt, use an escrow.
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
That statement is not even remotely accurate.
The market does observe, and is sensitive to, what entity controls what % of hashrate.
All it takes is perception. The fact that such an entity is virtuous is of no matter; we need to keep any one miner well below the threshold that an average, ignorant as they may be, observer deems as an acceptable % of the network hash in total.
FriedCoin
An alt coin with 1:1 to a real ASICMINER share. Would make sense more than the other wannabe alt coins
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
I hope AM forks the blockchain and proportionally transfers all BTC to their shareholders.
Then Bitcoin shall be known henceforth as FriedCoin.
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
You are a fool...
It does not matter if they would or would not mess with this or that. The simple fact that they COULD would ruin any legitimacy bitcoin has....
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
We do have something to worry about because such a scenario would undermine Bitcoin as a currency. Thus, great care is taken to avoid it.
ASICMiner can avoid this in many ways, and I trust friedcat to manage this strategy however makes sense.
.b
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
So it's wishful thinking to have next gen ASIC chips on par with Intel's Skylake/Skymont? 
Only if Friedcat wants to disrupt Intel next!
Seriously, it's a very interesting question. At any stage of this arms race competing chip makers have to choose between higher upfront costs and lead times against have a chip with a competitive edge. It's inefficient and risky to go too big too soon. There's no point in being too big a share of the network, so even if you can build something miles better than everyone else perhaps you shouldn't. So I guess it's a question of considering:
- who else is making chips;
- in what volume can they get them;
- what performance will they get with them; and
- when do I think they will hit the network, or will they go broke first
Companies that survive will have to revisit these questions and get good answers every time they commit to a next generation chip.
If ASICMINER builds hashpower that will put it over 50% of the current network speed, it can always sell the excess hashrate to keep below a certain percent of the network. There's always incentive to build something faster with better technology as you raise the barrier to entry and thus can keep the profit margin.
Did the USB stick officially goes on sale? That would generate revenue of 0.05 BTC / share if sold out, a pretty juicy dividend / good reserve for further development.
So it's wishful thinking to have next gen ASIC chips on par with Intel's Skylake/Skymont?
Only if Friedcat wants to disrupt Intel next!
Seriously, it's a very interesting question. At any stage of this arms race competing chip makers have to choose between higher upfront costs and lead times against have a chip with a competitive edge. It's inefficient and risky to go too big too soon. There's no point in being too big a share of the network, so even if you can build something miles better than everyone else perhaps you shouldn't. So I guess it's a question of considering:
- who else is making chips;
- in what volume can they get them;
- what performance will they get with them; and
- when do I think they will hit the network, or will they go broke first
Companies that survive will have to revisit these questions and get good answers every time they commit to a next generation chip.
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