Topic: difficulty too high while bitcoin society too small - page 5. (Read 31377 times)
Afterburner is Bitcoin's Harold Camping.
Afternurner has !000% proven it in MATHEMATICL FORMULAS, LMGTFY!!
THe moon is turning constantly, but you DON NOT understand human psychologia. That is why you will FAIL...
THe moon is turning constantly, but you DON NOT understand human psychologia. That is why you will FAIL...
ARG BARG FLO GARG!
Afternurner has !000% proven it in MATHEMATICL FORMULAS, LMGTFY!!
THe moon is turning constantly, but you DON NOT understand human psychologia. That is why you will FAIL...
THe moon is turning constantly, but you DON NOT understand human psychologia. That is why you will FAIL...
To spare me having to wade through this entire thread (I've been reading it piecemeal since it started, so I've probably missed a lot of it) could someone explain this "10,000 frozen" idea?
I recommend you read pedantically the whole thread. I hope still, I am wrong for a miracle, and bitcoin society will survive.
Don't worry about time spent in reading: just observe how difficulty increases in time @
http://bitcoincharts.com/markets/
To spare me having to wade through this entire thread (I've been reading it piecemeal since it started, so I've probably missed a lot of it) could someone explain this "10,000 frozen" idea?
I recommend you read pedantically the whole thread. I hope still, I am wrong for a miracle, and bitcoin society will survive.
Don't worry about time spent in reading: just observe how difficulty increases in time @
http://bitcoincharts.com/markets/
DIFFICULTY ALGORITHM IS BLACK HOLE.
May be, even with current exponent BUT with another coefficient, bitcoin were survive, if some 1 000 000 miners & acceptors could enter the game field.
Sad, if bitcoin society will decay @ 10 000 frozen adopters, staying absolutely secure from cryptographic point of view,
due to one incorrect coefficient in difficulty algorithm.
To spare me having to wade through this entire thread (I've been reading it piecemeal since it started, so I've probably missed a lot of it) could someone explain this "10,000 frozen" idea? May be, even with current exponent BUT with another coefficient, bitcoin were survive, if some 1 000 000 miners & acceptors could enter the game field.
Sad, if bitcoin society will decay @ 10 000 frozen adopters, staying absolutely secure from cryptographic point of view,
due to one incorrect coefficient in difficulty algorithm.
DIFFICULTY ALGORITHM IS BLACK HOLE.
May be, even with current exponent BUT with another coefficient, bitcoin were survive, if some 1 000 000 miners & acceptors could enter the game field.
Sad, if bitcoin society will decay @ 10 000 frozen adopters, staying absolutely secure from cryptographic point of view,
due to one incorrect coefficient in difficulty algorithm.
May be, even with current exponent BUT with another coefficient, bitcoin were survive, if some 1 000 000 miners & acceptors could enter the game field.
Sad, if bitcoin society will decay @ 10 000 frozen adopters, staying absolutely secure from cryptographic point of view,
due to one incorrect coefficient in difficulty algorithm.
I agree with you that bitcoin is not a pyramid by pedantic economical definition. I even trust in honestness of bitcoin software developers and earlier adopters.
I disappoint you by two things:
1. I've detected that current adopters - 'premium' members - are NOT sincere persons.
2. bitcoin society is prooven to crash independently on WHETHER current adopters ARE sincere or NOT.
Ok, I don't know if bitcoin will crash or not. Maybe you are right. I know too little about it at the moment (I became aware of bitcoin today!
).It will be a real test for the bitcoin system the coming months. For the system to survive and become strong it must be able to handle all kinds of dishonest persons and mischief.
It may be similar to a pyramid scheme in that those who join early will have the opportunity to make the biggest profit. But in a pyramid scheme, those who join early will continuously receive money from the lower part of the pyramid, whereas in Bitcoin there is no guarantee that the early adopters will get anything at all! Because if the system crashes, then even the those who joined early will lose unless they have managed to sell their bitcoins before the crash. So Bitcoin is more like investing in a growing company. Like investing in Facebook or Google when they were small companies. Or like investing in similar startups that went bankrupt. So there is a risk involved in the Bitcoin system in contrast to a pyramid scheme, plus the most important thing is perhaps that a pyramid scheme is just a fraudulent system leading to a certain crash while the Bitcoin system is something that builds to a potentially very useful monetary system with immense intrinsic social and real value.
I agree with you that bitcoin is not a pyramid by pedantic economical definition. I even trust in honestness of bitcoin software developers and earlier adopters.
I disappoint you by two things:
1. I've detected that current adopters - 'premium' members - are NOT sincere persons.
2. bitcoin society is prooven to crash independently on WHETHER current adopters ARE sincere or NOT.
Afterburner make it easy on yourself and understand one simple thing, bitcoin != mining, the mining aspect is just a extra way to make something out of bitcoins atm.
Anders, Clipse, you are newbies, but premium members did confirm that problem I mentioned does exist.
They simply have their own interests in pyramid game.
Of course, I can exactly TODAY bye bitcoins and, EXACTLY a WEEK later, to sell.
And I will have almost 100% guarantie of profit.
BUT THIS IS THE PYRAMID GAME.
It may be similar to a pyramid scheme in that those who join early will have the opportunity to make the biggest profit. But in a pyramid scheme, those who join early will continuously receive money from the lower part of the pyramid, whereas in Bitcoin there is no guarantee that the early adopters will get anything at all! Because if the system crashes, then even the those who joined early will lose unless they have managed to sell their bitcoins before the crash. So Bitcoin is more like investing in a growing company. Like investing in Facebook or Google when they were small companies. Or like investing in similar startups that went bankrupt. So there is a risk involved in the Bitcoin system in contrast to a pyramid scheme, plus the most important thing is perhaps that a pyramid scheme is just a fraudulent system leading to a certain crash while the Bitcoin system is something that builds to a potentially very useful monetary system with immense intrinsic social and real value.
Regarding difficulty, I see no problem... The economy is growing at a reasonable pace. Higher difficulty results in a more secure network. Higher difficulty is bad for miners, but good for the overall economy.
Let us stop at this point.
An economy with 10 000 frozen members world-wide is not the economy at all.
Only time will judge us. FEW weeks.
Oh I see you decide to troll out me, being a fat troll myself? Very nice.)))
Let us both LOL))
Let us both LOL))
I have no idea what you are trying to say here.
Regarding difficulty, I see no problem... The economy is growing at a reasonable pace. Higher difficulty results in a more secure network. Higher difficulty is bad for miners, but good for the overall economy.
afterburner, it comes down the fact that if you don't like Bitcoin you are free to start your own version of the block chain with your own rules. You're not going to change the existing Bitcoin, so just accept it.
This idiot is still at it?
The fact that something increases in value does not make it fraudulent, and it does not make it a pyramid scheme or a Ponzi scheme.
Also, you do not have 100% guarantee of profit buying this week and selling next week.
Also, you do not have 100% guarantee of profit buying this week and selling next week.
Let us stop. Second circle?
something increases exponetially, and EVEN on the constant field, this is the HUGE problem.
what about pyramid, it is just criterium of your honestness: are you also GAMER interested, with opinion biased.
If you read me pedantically you see, my schema with attraction of 1 000 000 mining people is pyramid itself till 90% of bitcoins will be mined.
If you still do not understand why my pyramid is honest, and your one is wrong, you did not simply read my posts pedantically.
hint: I introduced TWO functions - linear increase till 90% BTC mined & exponential decrease after 90% BTC mined.
I got in too late for CPU mining to be effective, and my GPU was crap for mining, so I invested USD. It was very risky, but happened to turn out well. I know a lot about risks and risk management, in real life. I barely game, and haven't played anything in several months. I prefer outdoor leisure activities. You have a lot of preconceptions that are just plain wrong, and it's obvious you are too hardheaded to accept you just might not know everything. As far as I'm concerned, you're just a cocky kid who's jealous he didn't get involved sooner. I was pretty cocky too when I was younger (and I still am sometimes), so trust me when I say you're just embarrassing yourself, but you won't realize it until your arrogance gets knocked down a notch.
Oh I see you decide to troll out me, being a fat troll myself? Very nice.)))
Let us both LOL))
---------------------------------
No, switch to business. And read thread again - I recognized PUBLICALLY I do ENVY to first 10 000 miners.
My emothions is one thing. But the difficulty problem is another.
WOW! Difficulty prognosis updated:
---------------------------------
Estimated 405913 in 597 blks
----------------------------------
http://bitcoincharts.com/markets/
YESTERDAY it was some 360000 in some 1100 blks.
YESTERDAY.
I CAN NOT buy the ATI 5850x2 pair and start to mine SO QUICKLY. PHYSICALLY.
Of course, I can exactly TODAY bye bitcoins and, EXACTLY a WEEK later, to sell.
And I will have almost 100% guarantie of profit.
BUT THIS IS THE PYRAMID GAME.
The fact that something increases in value does not make it fraudulent, and it does not make it a pyramid scheme or a Ponzi scheme. And I will have almost 100% guarantie of profit.
BUT THIS IS THE PYRAMID GAME.
Also, you do not have 100% guarantee of profit buying this week and selling next week.
Afterburner make it easy on yourself and understand one simple thing, bitcoin != mining, the mining aspect is just a extra way to make something out of bitcoins atm.
Anders, Clipse, you are newbies, but premium members did confirm that problem I mentioned does exist.
They simply have their own interests in pyramid game.
Of course, I can exactly TODAY bye bitcoins and, EXACTLY a WEEK later, to sell.
And I will have almost 100% guarantie of profit.
BUT THIS IS THE PYRAMID GAME.
Surely there are LESS than 10,000 people who can create new USD.
Does that make it not a secure currency?
Does that make it not a secure currency?
No it does not. I think SHA-256 & 100 miners are sufficient for security.
I say if number of miners will be frozen @ 10 000, number of bitcoin acceptors will be frozen at roughly the same boundary world-wide.
So I can do bitcoin-to-bitcoin transactions absolutely secure, but I can not BYE & SELL for bitcoin, in practical life.
afterburner is either a troll, or too hopelessly ignorant to ever understand economics.
This is just my humble opinion of course...
This is just my humble opinion of course...
If I am a troll why do you, Hero Member, still feed me?!
I am newbie, NOBODY.
You does 'feed' me because you know about this problem.
And you are interested to fail me, because you are the gamer on the bitcoin field. I am not.
You are interested in good reputation of bitcoin in eyes of newbies to attract them to pyramid.
You do attract newbies to BYE & SELL, i.e. to PLAY on exchange, NOT to mine.
Because you, 10 000 people, want to be PEERS when mining will be unprofitable.
So you want to control the whole bitcoin system - no matter you are NOT single person, but like
a parliament consists of 10 000 people.
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Read all the branch again pedantically - some premium members have been accepted that the difficulty problem does exist.
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