Topic: [DEAD] DeepBit.net PPS+Prop,instant payouts, we pay for INVALID BLOCKS too - page 313. (Read 1601412 times)
March 03, 2011, 07:42:00 PM
13 blocks today (March 3) and 12 blocks yesterday (March 2). Good stuff!!!
March 03, 2011, 07:25:07 PM
Think about it; in the future when you start to get a block every 3 months,
the 1 block/10 minutes is hard-coded into the system. If the difficulty gets too high, it will be reduced to maintain this.
March 03, 2011, 07:16:42 PM
Then people will start to notice their transactions aren't going through, they'll read around and get the hint that in order to make their transactions be included in a miner's block, they should motivate him by adding a fee. Imagine how many transactions are in that long awaited block.
10 minutes aren't THAT long :) 
March 03, 2011, 07:10:53 PM
i'd like to see, what those calculations are based on
Try it yourself first, then tell me if what i'm saying is incorrect.Quote
oh, so it will be worth mining for a few bitcents/block, but not worth it for 50bitcoins/block? 
Think about it; in the future when you start to get a block every 3 months, what will motivate you to continue mining? Then people will start to notice their transactions aren't going through, they'll read around and get the hint that in order to make their transactions be included in a miner's block, they should motivate him by adding a fee. Imagine how many transactions are in that long awaited block.Well, it's just my opinion anyway, based on what i've read so far. If you disagree, by all means, share your opinion.
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Don't earnings become 2/3 every 10 days or so?
Why not? Again, calculate it yourself then tell me if what i'm saying is incorrect. No shame in being wrong, but don't just say no and leave it at that. March 03, 2011, 04:58:48 PM
You make it sound like I'm spoiling the party or something
wasn't my intentionBased on my calculations, it won't be worth it to mine in a pool in 3 months
i'd like to see, what those calculations are based onQuote
After that, i'm thinking of solo mining for the fees involved in transactions; read they go to whoever generates the block.
oh, so it will be worth mining for a few bitcents/block, but not worth it for 50bitcoins/block? Quote
Don't earnings become 2/3 every 10 days or so?
no March 03, 2011, 04:16:49 PM
I wait will rejoice the day when I can easily spend my bitcoins
March 03, 2011, 04:10:17 PM
My understanding of the "weakness" of pooling is there are fewer p2p nodes (users running the bitcoin client) since all clients of the pool are running a cpu/gpu mining program (poclbm, Diablo, Ufasoft, etc).
That said, I still run bitcoind on a server at home to help offset this "wekaness"
People run bitcoin clients anyway to receive and spend their bitcoins :) That said, I still run bitcoind on a server at home to help offset this "wekaness"
March 03, 2011, 04:08:24 PM
So if anyone can do this, not much harm can be done anyway.
Keyword! No-one who would think about doing such attack can spend so much, or even if he can it would be pointless to him. Unless he's a rich sadist. March 03, 2011, 04:05:06 PM
they attack and shutdown all the rest of the pools but their own??
I don't really see the problem if this happens, they'll still get the same blocks they'd get otherwise. Anyone who'd do that is just plain stupid.So if anyone can do this, not much harm can be done anyway.
And all current pools have only 1/4 of total network hashing power.
Yeah I am and yeah I did just not carefully enough I guess.
March 03, 2011, 04:02:45 PM
My understanding of the "weakness" of pooling is there are fewer p2p nodes (users running the bitcoin client) since all clients of the pool are running a cpu/gpu mining program (poclbm, Diablo, Ufasoft, etc).
That said, I still run bitcoind on a server at home to help offset this "wekaness"
That said, I still run bitcoind on a server at home to help offset this "wekaness"
March 03, 2011, 03:57:53 PM
they attack and shutdown all the rest of the pools but their own??
I don't really see the problem if this happens, they'll still get the same blocks they'd get otherwise. Anyone who'd do that is just plain stupid.So if anyone can do this, not much harm can be done anyway.
And all current pools have only 1/4 of total network hashing power.
March 03, 2011, 03:49:06 PM
There is already a lot of competition between pools, so this isn’t an issue (anymore).
What if someone manages to hack and attack 3 or 4 or half of the pools at the same time and get them under their control? I don't know I'm just very worried when I see so much CPU power being harnessed by so few individual servers.EDIT: Or better yet they attack and shutdown all the rest of the pools but their own??
For this to happen, evil guy should gain access to all servers some days before the operation. As i know, currently our pools use completely different software and even operating systems. I think that pool operators will have enough time to warn people or shut everything down and good network will take control of the chain back again.
March 03, 2011, 03:48:42 PM
they attack and shutdown all the rest of the pools but their own??
I don't really see the problem if this happens, they'll still get the same blocks they'd get otherwise. Anyone who'd do that is just plain stupid.
March 03, 2011, 03:26:49 PM
There is already a lot of competition between pools, so this isn’t an issue (anymore).
What if someone manages to hack and attack 3 or 4 or half of the pools at the same time and get them under their control? I don't know I'm just very worried when I see so much CPU power being harnessed by so few individual servers.
EDIT: Or better yet they attack and shutdown all the rest of the pools but their own??
March 03, 2011, 03:23:17 PM
There is already a lot of competition between pools, so this isn’t an issue (anymore).
March 03, 2011, 03:22:59 PM
Based on my calculations, it won't be worth it to mine in a pool in 3 months; for me anyway. After that, i'm thinking of solo mining for the fees involved in transactions; read they go to whoever generates the block. I think they'll go higher; right now they're mostly non-existent (?).
We'll see soon enough anyway. Don't earnings become 2/3 every 10 days or so?
We'll see soon enough anyway. Don't earnings become 2/3 every 10 days or so?
March 03, 2011, 03:20:47 PM
Isn't this a serious issue?
if you don't trust a pool-operator, don't use the pool.it just takes a few seconds to switch to another pool, or solo-mining.
You make it sound like I'm spoiling the party or something when I'm only questioning the security of the network that could be threaten by pools. Relying on "the right people" to harness all that cpu power is a bit of a hole in security, don't you think?
March 03, 2011, 03:17:25 PM
Isn't this a serious issue?
if you don't trust a pool-operator, don't use the pool.it just takes a few seconds to switch to another pool, or solo-mining.
March 03, 2011, 03:16:23 PM
Not sure I understand what you mean by compromising the network.
Well say that people join a pool that's being run on a server that belongs to someone who want's to attack the network and compromise the chain with fake transactions. I read countless of times on these forums and in the wiki that something like is impossible because someone would need a cpu power to match at least 50% of the rest of the network. Well isn't that what a pool is? Basically a server with the power of loads and loads of CPUs combined?
Technically yes, but I think we will be seeing more pools in the future(already see 3 biggish ones), so having that much power isn't foreseeable.
March 03, 2011, 03:14:40 PM
Quote
Could pools get so big that one pool could have enough hashing speed to actually compromise the network?
in theory, yes.In theory?! Are you sure it's not just in theory? Isn't this a serious issue?
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