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
Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1268. (Read 3917029 times)
February 14, 2013, 05:31:35 PM
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
February 14, 2013, 05:26:33 PM
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?
February 14, 2013, 05:21:44 PM
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.
February 14, 2013, 05:08:46 PM
10$ who guesses who the next ddos victim is? Lol
February 14, 2013, 05:05:59 PM
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.
February 14, 2013, 05:04:23 PM
give mtred some hashes, stratum without fee! 
How long will it stay up though?
February 14, 2013, 05:02:40 PM
give mtred some hashes, stratum without fee!
February 14, 2013, 04:56:24 PM
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%.
February 14, 2013, 04:49:43 PM
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.And thank you for your very significant contribution towards making the Bitcoin network more secure.
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.
February 14, 2013, 04:49:16 PM
February 14, 2013, 04:46:32 PM
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.
February 14, 2013, 04:40:46 PM
I'm very happy my pool was chosen for the stress test, but I do share the above concerns and hope after the testing is done it is split among pools. For stress testing, it makes sense to use a single pool so you have a consistent point of comparison when encountering problems. I'm sure once the units are confirmed to work we'll see them move around and diversify.
Unfortunately for friedcat, he's in the unenviable position of needing to not freak out the other miners on smaller pools and the Bitcoin community as a whole while also ensuring his shareholders get the most bang for their buck. If I were a betting Bitcoiner, I'd say the latter is probably going to drive him to putting all 12 TH/s on BTCGuild, regardless of your concern. I would encourage the other pool ops and maybe even the P2Pool dev(s) to get in touch with him and you about cleaning up Stratum however it needs to to work with the new units being brought online relatively quickly.
pretty sure the stated plan is to balance the hashrate between a group of pools..
February 14, 2013, 04:38:32 PM
I'm very happy my pool was chosen for the stress test, but I do share the above concerns and hope after the testing is done it is split among pools. For stress testing, it makes sense to use a single pool so you have a consistent point of comparison when encountering problems. I'm sure once the units are confirmed to work we'll see them move around and diversify.
Unfortunately for friedcat, he's in the unenviable position of needing to not freak out the other miners on smaller pools and the Bitcoin community as a whole while also ensuring his shareholders get the most bang for their buck. If I were a betting Bitcoiner, I'd say the latter is probably going to drive him to putting all 12 TH/s on BTCGuild, regardless of your concern. I would encourage the other pool ops and maybe even the P2Pool dev(s) to get in touch with him and you about cleaning up Stratum however it needs to to work with the new units being brought online relatively quickly.
February 14, 2013, 04:35:55 PM
awesome!! I'm really glad that I invested (even if it was just a little bit) I would expect that the shares will be sold for 100 bucks in no time
February 14, 2013, 04:33:42 PM
so an update should be here "soon" I hope.
I hope the update will arrive after they have deployed all they can with materials currently on hand.And no sooner.
Get them critters hashing!
February 14, 2013, 04:31:02 PM
Pre Update
The deploying is in process. We are stress testing on btcguild with a portion of our devices. The current computation power is close to 2TH/s.
We have been working day and night and still are. The real update will be given in a few hours.
The deploying is in process. We are stress testing on btcguild with a portion of our devices. The current computation power is close to 2TH/s.
We have been working day and night and still are. The real update will be given in a few hours.
He posted this message about 4 hours ago... so an update should be here "soon" I hope.
February 14, 2013, 04:27:28 PM
I hope to see some pics if you can find any time to make them 
That would be Awesome!
That would be Awesome!
Yes, that would be nice.
But I'm entirely happy to let them sleep a while before they even think about it.
IMO, the only 'pic' which matters for now is:
2,295.70 GH/s - https://www.btcguild.com/halloffame.php
February 14, 2013, 04:27:12 PM
I wonder if we'll get to 100 pages before friedcat returns to the thread to update us.
February 14, 2013, 04:25:34 PM
excellent! now i am convinced that ASIC era is here!
thanks guys, l really hope to get an ASIC some day from you
thanks guys, l really hope to get an ASIC some day from you
February 14, 2013, 04:21:24 PM
Nice Friedcat! 
(and the rest of the team of course!)
I hope to see some pics if you can find some time to make them
That would be Awesome!
(and the rest of the team of course!)I hope to see some pics if you can find some time to make them
That would be Awesome!
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