ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1269.

DiabloD3

legendary

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DiabloMiner author

Quote from: gmaxwell on February 14, 2013, 03:20:29 PM

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.

In general, what you said is true. However, ASICMINER will not solo mine, and will split hashing power across multiple pools (although I wish friedcat would just go 100% on p2pool and remove the problem of pool owners abusing the privileged of AISCMINER mining on their pool).

gmaxwell

staff

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Quote from: n8rwJeTt8TrrLKPa55eU on February 14, 2013, 01:56:02 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.

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.

jabetizo

full member

Activity: 125

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Quote from: repentance on February 14, 2013, 02:58:41 PM

BFL's target ship date is only a week away and once their units start hashing ASICMiner's proportion of network power will drop dramatically.

your hashrate relative to the network hashrate doesn't affect how many bitcoins you mine per day. only the current difficulty and your absolute hashrate matter. of course, the difficulty readjusts every 2016 blocks.

Korbman

legendary

Activity: 1064

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BTCGuild is showing 2.2TH/s now for them...I nearly crapped myself at the thought of earning 340 Bitcoins a day. Wowzer..

LazyOtto

sr. member

Activity: 476

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Biggest danger I see at the moment is that friedcat and his guys are really tired from pushing hard.

Really tired people are more prone to making mistakes.

Such as:

"Oh noes! Embarrassed

" "We're hosed now. Angry

"

Let's all keep our fingers crossed and continue to wish them good luck.

matauc12

hero member

Activity: 658

Merit: 500

Quote from: repentance on February 14, 2013, 02:58:41 PM

Yes it does. BFL's target ship date is only a week away and once their units start hashing ASICMiner's proportion of network power will drop dramatically. It would be crazy not to exploit this small window of opportunity to the max.

BFL...target... Not scared for some reason.

LazyOtto

sr. member

Activity: 476

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Quote from: repentance on February 14, 2013, 02:58:41 PM

Quote from: keystroke on February 14, 2013, 02:51:06 PM

Does it make sense to bring everything online now given the difficulty adjustment which will happen? I guess yes given (eventual) competition, and it is all about % of hashing power controlled.

Yes it does. BFL's target ship date is only a week away and once their units start hashing ASICMiner's proportion of network power will drop dramatically. It would be crazy not to exploit this small window of opportunity to the max.

Yes, of course.

And there are also, allegedly, 298 Avalon units which could get delivered / turned on at any moment.

repentance

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Quote from: keystroke on February 14, 2013, 02:51:06 PM

Does it make sense to bring everything online now given the difficulty adjustment which will happen? I guess yes given (eventual) competition, and it is all about % of hashing power controlled.

Yes it does. BFL's target ship date is only a week away and once their units start hashing ASICMiner's proportion of network power will drop dramatically. It would be crazy not to exploit this small window of opportunity to the max.

maqifrnswa

sr. member

Activity: 454

Merit: 252

I have no connection to asicminer, but I just wanted to say congratulations. It's a big undertaking, it's great that it is paying off!

Peter Lambert

hero member

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It's all fun and games until somebody loses an eye

Quote from: keystroke on February 14, 2013, 02:51:06 PM

Quote from: ineededausername on February 14, 2013, 02:31:14 PM

friedcat is really working hard; the power continues to grow. It's up to a high of 2112 GH/s now.

Does it make sense to bring everything online now given the difficulty adjustment which will happen? I guess yes given (eventual) competition, and it is all about % of hashing power controlled.

Start mining with whatever you got, it will scare some little fishes out of the mining game and leave more for us.

VJain

sr. member

Activity: 305

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Up to 2200GH! So excited to see all the chips churning out them coins!

SebastianJu

legendary

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Legendary Escrow Service - Tip Jar in Profile

If they can run at 3.2TH for a month then each shareholder will get $1 for this month. Which is around the price for one share at IPO i believe. Looks like some sellers that sold shares in the last time for 0.4BTC or 0.5BTC will bite themselve in the ass now.
Of course its not said that the profit will go on long like it does now..

keystroke

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advocate of a cryptographic attack on the globe

Quote from: ineededausername on February 14, 2013, 02:31:14 PM

friedcat is really working hard; the power continues to grow. It's up to a high of 2112 GH/s now.

Does it make sense to bring everything online now given the difficulty adjustment which will happen? I guess yes given (eventual) competition, and it is all about % of hashing power controlled.

kibblesnbits

hero member

Activity: 557

Merit: 500

Quote from: ineededausername on February 14, 2013, 02:31:14 PM

friedcat is really working hard; the power continues to grow. It's up to a high of 2112 GH/s now.

Oh, they need to hang out at 2112 Gh/s for a little while...

We've taken care of everything
The words you read, the songs you sing
The pictures that give pleasure to your eyes
It's one for all and all for one
We work together, common sons
Never need to wonder how or why

We are the Priests of the Temples of Syrinx
Our great computers fill the hallowed halls
We are the Priests, of the Temples of Syrinx
All the gifts of life are held within our walls

Look around at this world we've made
Equality our stock in trade
Come and join the Brotherhood of Man
Oh, what a nice, contented world
Let the banners be unfurled
Hold the Red Star proudly high in hand

We are the Priests of the Temples of Syrinx
Our great computers fill the hallowed halls
We are the Priests, of the Temples of Syrinx
All the gifts of life are held within our walls

...from RUSH, 2112 (released in 1976!)

ineededausername

hero member

Activity: 784

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bitcoin hundred-aire

friedcat is really working hard; the power continues to grow. It's up to a high of 2112 GH/s now.

repentance

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Quote from: DutchBrat on February 14, 2013, 11:49:24 AM

The mysterious miner on BTCGuild is expanding again 1.65 TH/s now, so unless Friedcat is working through the night, I would say it is someone else....

No update today.... Undecided

2,066.23 GH/s now. Most shares and most blocks found this difficulty as well.

Congratulations friedcat and all at ASICMiner.

teek

hero member

Activity: 667

Merit: 500

history in the making.. good job guys!

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

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Congratulations to ASICMINER!

And thank you for your very significant contribution towards making the Bitcoin network more secure.

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Quote

One day, high above Arizona , we were monitoring the radio traffic of all the mortal airplanes below us. First, a Cessna pilot asked the air traffic controllers to check his ground speed. 'Ninety knots,' ATC replied. A twin Bonanza soon made the same request. 'One-twenty on the ground,' was the reply. To our surprise, a navy F-18 came over the radio with a ground speed check. I knew exactly what he was doing. Of course, he had a ground speed indicator in his cockpit, but he wanted to let all the bug-smashers in the valley know what real speed was 'Dusty 52, we show you at 620 on the ground,' ATC responded. The situation was too ripe. I heard the click of Walter's mike button in the rear seat. In his most innocent voice, Walter startled the controller by asking for a ground speed check from 81,000 feet, clearly above controlled airspace. In a cool, professional voice, the controller replied, ' Aspen 20, I show you at 1,982 knots on the ground.' We did not hear another transmission on that frequency all the way to the coast.

creativex

sr. member

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Just passed 2Th.

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1269. (Read 3917543 times)