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Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1267. (Read 3917543 times)

hero member
Activity: 896
Merit: 1000
You can still get exposure to ASICMINER via mining bonds/funds holding their shares.

I'm buying JAH for this reason.
https://bitfunder.com/asset/JAH

Anybody know about others, besides the [closing] GBF?

ohh. that's awesome then!

have some jah shares.

full member
Activity: 238
Merit: 100
sadly one of the few glbse assets i did not hold at least a few shares Sad

You can still get exposure to ASICMINER via mining bonds/funds holding their shares.

I'm buying JAH for this reason.
https://bitfunder.com/asset/JAH

Anybody know about others, besides the [closing] GBF?



DMC
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
sadly one of the few glbse assets i did not hold at least a few shares Sad

You can still get exposure to ASICMINER via mining bonds/funds holding their shares.

I'm buying JAH for this reason.
https://bitfunder.com/asset/JAH

Anybody know about others, besides the [closing] GBF?

hero member
Activity: 900
Merit: 1014
advocate of a cryptographic attack on the globe
Up to 17 blocks now.
hero member
Activity: 896
Merit: 1000
congrats!

sadly one of the few glbse assets i did not hold at least a few shares Sad
hero member
Activity: 658
Merit: 500
If the other pools are going to cry about how it isn't fair they're not getting any of the hashpower maybe they should be offering zero-fee for ASICMINER rigs pointed to them?  Otherwise it just looks like people having some sense of entitlement to rake their little bit in fees off the top.

It's not like there's any danger whatsoever of ASICMINER approaching 50% on its own - so there's no valid argument (from that persepctive) why the rigs need to be pointed at pools at all.  Sure - so far Avalon have only shown a couple of prototypes and no evidence of any ability to mass-produce, but now they have the prepayments for batch 2 surely they'll be able to start shipping the rest of batch 1 before long.

Even IF ASICMINER had 50%+, pointing the rigs at pools would be a purely PR stunt - as at any point they could be swapped over to solo mining/double-spending.

This whole pool argument smacks of self-interest from other pool operators/supporters rather than having much/anything to do with network security.
Well I haven't seen anyone cry yet, so no reason to mitigate the crying...
hero member
Activity: 667
Merit: 500
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?

sure does but i can see why they don't want to take the variance risk in the short term..  we have maybe 2-3 weeks here unless BFL blows up

When you control 1/6-1/3 of the network there is no such thing as variance (well technically there is but you get what I mean).

there sure is when we are talking about a couple of weeks,  no such thing in the long term i agree,  but we need guaranteed revenue here... though 2 weeks of great luck on solo would be awesome,  bad luck would be very unfortunate.
hero member
Activity: 532
Merit: 500
If the other pools are going to cry about how it isn't fair they're not getting any of the hashpower maybe they should be offering zero-fee for ASICMINER rigs pointed to them?  Otherwise it just looks like people having some sense of entitlement to rake their little bit in fees off the top.

It's not like there's any danger whatsoever of ASICMINER approaching 50% on its own - so there's no valid argument (from that persepctive) why the rigs need to be pointed at pools at all.  Sure - so far Avalon have only shown a couple of prototypes and no evidence of any ability to mass-produce, but now they have the prepayments for batch 2 surely they'll be able to start shipping the rest of batch 1 before long.

Even IF ASICMINER had 50%+, pointing the rigs at pools would be a purely PR stunt - as at any point they could be swapped over to solo mining/double-spending.

This whole pool argument smacks of self-interest from other pool operators/supporters rather than having much/anything to do with network security.
legendary
Activity: 2324
Merit: 1125
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?

sure does but i can see why they don't want to take the variance risk in the short term..  we have maybe 2-3 weeks here unless BFL blows up

When you control 1/6-1/3 of the network there is no such thing as variance (well technically there is but you get what I mean).
hero member
Activity: 667
Merit: 500
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?

sure does but i can see why they don't want to take the variance risk in the short term..  we have maybe 2-3 weeks here unless BFL blows up
full member
Activity: 238
Merit: 100
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?
hero member
Activity: 667
Merit: 500
pretty sure the stated plan is to balance the hashrate between a group of pools..

Well, that's my point. That's the plan, but it hasn't happened with the first 2 TH/s, so what will make it happen with the next 10TH/s? He's got a working pool and shareholders wanting an ROI, if BTCGuild works, there's no incentive to contact any other pool ops. Maybe he's working on it. No, let me rephrase that, hopefully he's working on it.

I just don't want this to be Deepbit circa Winter-Spring 2011 version 2. We had about ten threads a day on a conspiracy roll about how Deepbit was double-spending. It got so bad Tycho had to make a bounty (I think piuk collected it) for double-spend tracking.

i think it is too early to say, we are not even 48 hours old yet..   they know btcguild works for sure now and is serving as a testbed for them nicely..   not sure what you expect,  i definitely don't expect them to throw hashes at every little pool,  so maybe some of the "known" working hash rate goes to slush or something now and they pull some more just fired devices onto btcguild, etc etc..

give the guys a few days here, this is quite the project.


hero member
Activity: 658
Merit: 500
10$ who guesses who the next ddos victim is? Lol
hero member
Activity: 900
Merit: 1014
advocate of a cryptographic attack on the globe
pretty sure the stated plan is to balance the hashrate between a group of pools..

Well, that's my point. That's the plan, but it hasn't happened with the first 2 TH/s, so what will make it happen with the next 10TH/s? He's got a working pool and shareholders wanting an ROI, if BTCGuild works, there's no incentive to contact any other pool ops. Maybe he's working on it. No, let me rephrase that, hopefully he's working on it.

I just don't want this to be Deepbit circa Winter-Spring 2011 version 2. We had about ten threads a day on a conspiracy roll about how Deepbit was double-spending. It got so bad Tycho had to make a bounty (I think piuk collected it) for double-spend tracking.

Excellent point. ROI is contingent on bitcoin remaining strong which means the network itself isn't attacked successfully so it is in our interest even as greedy shareholders to distribute the load even though it will take extra time.
sr. member
Activity: 350
Merit: 250
give mtred some hashes, stratum without fee!  Wink

How long will it stay up though?
hero member
Activity: 607
Merit: 500
give mtred some hashes, stratum without fee!  Wink
legendary
Activity: 1750
Merit: 1007
pretty sure the stated plan is to balance the hashrate between a group of pools..

Well, that's my point. That's the plan, but it hasn't happened with the first 2 TH/s, so what, pray tell, will make it happen with the next 10TH/s? He's got a working pool and shareholders wanting an ROI, if BTCGuild works, there's no incentive to contact any other pool ops. Maybe he's working on it. No, let me rephrase that, hopefully he's working on it.

I just don't want this to be Deepbit circa Spring-Summer 2011 version 2. We had about ten threads a day on a conspiracy roll about how Deepbit was double-spending.

On the bright side, BTC Guild should not be in danger of hitting 51% even if all 12 TH/s is pointed at it.  The network pre-ASICMINER was ~25 TH/s.  With ASICMINER at 12, it would be 37 TH/s.  Pre-ASICMINER BTC Guild speed was 4 TH/s, which would put us at 16 out of 37 assuming all speed was pointed at and kept on BTC Guild.  While it's "close", it's still missing 3 TH/s (a relatively HUGE amount of hashing power).

It's 43%, which is a high amount, and certainly a number I'd prefer to stay under (too much of an attack target), but given the size of the network these days, it's far off from the time that Deepbit actually had >51%.
hero member
Activity: 588
Merit: 500
Congratulations to ASICMINER!
And thank you for your very significant contribution towards making the Bitcoin network more secure.
Unfortunately, the large consolidation of hashpower under a single administrative entity creates peril, not security. Doubly so with the hashpower assigned to one of the largest mining pools.  The consequence is that there are fewer operations which must be seized, coerced, or hacked in order to undermine the operation of the network.

Congratulations are in order, indeed— but its regrettable that more hasn't been done to mitigate the risk to the Bitcoin ecosystem (getting devices sold ASAP, splitting operations to reduce the incentives to capture it, mining solo, p2pool, or on smaller pools) yet.  I hope more independent parties come online before continued consolidation (rightfully) undermines confidence in Bitcoin technology.

Agreed on the sentiment, I should've added a postscript that all praise and thanks is underlied by two assumptions: that their temporary superpowers are just that, temporary, and that during any window of exclusivity they will be used for good and not for evil.

legendary
Activity: 1012
Merit: 1000
donator
Activity: 1419
Merit: 1015
pretty sure the stated plan is to balance the hashrate between a group of pools..

Well, that's my point. That's the plan, but it hasn't happened with the first 2 TH/s, so what will make it happen with the next 10TH/s? He's got a working pool and shareholders wanting an ROI, if BTCGuild works, there's no incentive to contact any other pool ops. Maybe he's working on it. No, let me rephrase that, hopefully he's working on it.

I just don't want this to be Deepbit circa Winter-Spring 2011 version 2. We had about ten threads a day on a conspiracy roll about how Deepbit was double-spending. It got so bad Tycho had to make a bounty (I think piuk collected it) for double-spend tracking.
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