Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 27.

goddardnet

newbie

Activity: 49

Merit: 0

Quote from: goddardnet on June 08, 2014, 02:58:13 AM

Quote from: grnbrg on June 07, 2014, 03:59:39 PM

Dividends have been sent out.

Mined	Per Contract
5.79241206	0.00003284

Bonus	Bonus Per Contract
18.5	0.00016513

grnbrg.

Edit: Contracts, not bonds.

As BFL monarchs are due to be shipped soon(ish!) - relatively speaking and judging by the 'snippet' videos of BFL Monarchs running at box standard 600GH/s (0.002BTC per hour) these should produce 0.000006BTC per contract at current difficulty (someone check my math)?

Do we know how many Monarchs were ordered and plans to run either at 600GH/s or faster given the current problems with current draw and associated heat - warranty allegedly allows up to 1.2/1.4TH/s? - (Cue usual discussion BFL, delivery, promises, .....)

GoddardNet

BFL_Josh has indicated that their Cloud mining operation should be going live today/tomorrow???

"Right now, the plan is to allocate 600 GH/s to each user for each card ordered. If you ordered 1 card, you'll get 600 GH/s, if you ordered 2 cards, 1.2 TH/s, etc... "

Are we in the queue to start hashing once you have pointed at the right pool???

btcrealm

jr. member

Activity: 62

Merit: 1

The idea behind the withholding of blocks is that if you have close to 50% of the market the chances are every 20 minutes you will have a solved block (yes there is variance but stay with me). If you put hashing into other major pools, enough to make a difference, and can find enough blocks but withhold them then you can solve that "10 minute" block in under 20 minutes. Giving you an overall ratio of more like 18 minutes for solves.

This does two things.
First that pool appears more "lucky" and is able to increase its ability to do this as people flock to the "lucky" pool.
Second this makes the overall difficulty appear lower as it is taking more than the 10 minutes to solve many of the blocks. The network doesn't care about the hashing power, it auto adjusts based on the frequency of block solves. This happens to be directly tied to the hashing power as long as everyone is being honest.

btcrealm

jr. member

Activity: 62

Merit: 1

Quote from: MaxwellsDemon on June 15, 2014, 01:28:38 PM

......

Quote from: Lab_Rat on June 15, 2014, 01:14:08 PM

Quote from: oldbushie on June 15, 2014, 12:30:55 PM

and I'm also baffled that "withholding winning blocks" is even a thing. Is there a way to defend against that in code?

Yes, Eleuthria and WK/Luke-Jr have implemented checks that alert them when there is a suspicious miner.

But this is only detection, not prevention. So a game of cat and mouse will ensue, in which they create new users and try to get away with it for as long as they can.

Agreed, this isn't prevention. Not sure how the system would send a suspicious miner a solvable block (unless already received and immediately sending to all suspect parties).

Quote from: bobfranklin on June 17, 2014, 07:15:01 AM

Quote from: NotLambchop on June 15, 2014, 12:11:54 PM

@countduckula: Brewer's yeast has a similar take on success. Given a limitless amount of sugar, It eats it and multiplies as fast as it can...
...while shitting ethanol, which inevitably kills it, giving us delicious booze.
I hope the Bitcoin community is smarter than yeast.

As a brewer I will confirm. Also Booze as grnbrg said.

I would have hoped in the self governing world that is BTC it would have remained altruistic enough to stop this sort of thing happening but I can see the allure to "more coins same effort" which appears to the case.

In brewers terms "cut malts add sugars same ABV = Profit."

When the reward becomes small enough I think a lot of the big "investors" will probably pull out. We just have to survive that long, lol.
I will probably continue to mine forever as it is part of the distribution of the chain.

mmmerlin

sr. member

Activity: 266

Merit: 250

Quote from: IPO Magic on June 15, 2014, 10:20:59 AM

^Nothing to worry about. OTHERS will pull out of ghash.io while he profits.
http://en.wikipedia.org/wiki/Prisoner's_dilemma

^ Sadly not the case:
http://en.wikipedia.org/wiki/Tragedy_of_the_commons

bobfranklin

member

Activity: 116

Merit: 10

Quote from: NotLambchop on June 15, 2014, 12:11:54 PM

@countduckula: Brewer's yeast has a similar take on success. Given a limitless amount of sugar, It eats it and multiplies as fast as it can...
...while shitting ethanol, which inevitably kills it, giving us delicious booze.
I hope the Bitcoin community is smarter than yeast.

As a brewer I will confirm. Also Booze as grnbrg said.

I would have hoped in the self governing world that is BTC it would have remained altruistic enough to stop this sort of thing happening but I can see the allure to "more coins same effort" which appears to the case.

In brewers terms "cut malts add sugars same ABV = Profit."

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: grnbrg on June 15, 2014, 08:39:21 PM

Quote from: LostDutchman on June 15, 2014, 06:31:28 PM

Quote from: grnbrg on June 15, 2014, 02:26:45 PM

My $.02.

grnbrg, you're stealing my stuff.

Stop it.

Wink

grnbrg.

Good one!

grnbrg

hero member

Activity: 509

Merit: 500

Official LRM shill

Quote from: LostDutchman on June 15, 2014, 06:31:28 PM

Quote from: grnbrg on June 15, 2014, 02:26:45 PM

My $.02.

grnbrg, you're stealing my stuff.

Stop it.

Wink

grnbrg.

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: grnbrg on June 15, 2014, 02:26:45 PM

Quote from: Anotheranonlol

I've always wondered. do you have the signature in a notepad and just copy paste it in each time?

I type it, every time. Started doing years ago in an RC forum that didn't do signatures.

My $.02.

Wink

grnbrg.

grnbrg, you're stealing my stuff.

Stop it.

Wink

grnbrg

hero member

Activity: 509

Merit: 500

Official LRM shill

Quote from: oldbushie on June 15, 2014, 12:30:55 PM

I'm all for spreading the hashrate as evenly as possible... and I'm also baffled that "withholding winning blocks" is even a thing. Is there a way to defend against that in code?

Directly, no.

What the pool would have to do is send the suspected miner a work unit that is known to produce a block-winning hash and see if they report it.

grnbrg.

grnbrg

hero member

Activity: 509

Merit: 500

Official LRM shill

Quote from: Anotheranonlol

I've always wondered. do you have the signature in a notepad and just copy paste it in each time?

I type it, every time. Started doing years ago in an RC forum that didn't do signatures.

My $.02.

Wink

grnbrg.

ICantThinkOfaName

full member

Activity: 146

Merit: 100

https://docs.google.com/spreadsheets/d/1YnYihk2iWoxyD4fYMhwDbeVaQJRjBU_NVARqMXUIOd4

Updated

MaxwellsDemon

full member

Activity: 187

Merit: 109

Converting information into power since 1867

Quote from: NotLambchop on June 15, 2014, 12:11:54 PM

@countduckula: Brewer's yeast has a similar take on success. Given a limitless amount of sugar, It eats it and multiplies as fast as it can...
...while shitting ethanol, which inevitably kills it, giving us delicious booze.
I hope the Bitcoin community is smarter than yeast.

Well, in the defense of yeast, one should mention that they only ferment sugar to ethanol in anaerobic conditions. However, they're evolutionarily accustomed to living mostly in aerobic conditions. So when you put them in a closed container, they sort of "assume" that the oxygen will come back soon and they can afford to perform fermentation.
In other words, they're used to conditions under which fermentation is not a big problem, so they just assume it will always stay that way.

Another perfect analogy to Ghash.io Grin

Quote from: Lab_Rat on June 15, 2014, 01:14:08 PM

Quote from: oldbushie on June 15, 2014, 12:30:55 PM

and I'm also baffled that "withholding winning blocks" is even a thing. Is there a way to defend against that in code?

Yes, Eleuthria and WK/Luke-Jr have implemented checks that alert them when there is a suspicious miner.

But this is only detection, not prevention. So a game of cat and mouse will ensue, in which they create new users and try to get away with it for as long as they can.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

Quote from: oldbushie on June 15, 2014, 12:30:55 PM

and I'm also baffled that "withholding winning blocks" is even a thing. Is there a way to defend against that in code?

Yes, Eleuthria and WK/Luke-Jr have implemented checks that alert them when there is a suspicious miner.

oldbushie

member

Activity: 94

Merit: 10

A private pool with 12 PH/s should be MORE than enough to keep variance down... I know I have a measly 300 GH/s on p2pool and that has a total of 1 PH/s... and I get about one payout a day roughly.

I'm all for spreading the hashrate as evenly as possible... and I'm also baffled that "withholding winning blocks" is even a thing. Is there a way to defend against that in code?

countduckula

full member

Activity: 140

Merit: 100

Its just useless to argue when you take all to the limits, if you all want to say i want to ride ghash.io boat til the end of times and doom bitcoin, i didnt say that. no one has any proof of what they claim, still they want to act as if they had.

Yeast its just another example of what i just said, again.. keep it up with speculation to the worst case scenario wich its far from current one, hope you get something out of it.

I hope we act on informed bases than on speculation.

daemonfox

hero member

Activity: 630

Merit: 500

Quote from: NotLambchop on June 15, 2014, 12:11:54 PM

@countduckula: Brewer's yeast has a similar take on success. Given a limitless amount of sugar, It eats it and multiplies as fast as it can...
...while shitting ethanol, which inevitably kills it, giving us delicious booze.
I hope the Bitcoin community is smarter than yeast.

Best analogy thus far... perfect for the debate at hand.

grnbrg

hero member

Activity: 509

Merit: 500

Official LRM shill

Quote from: NotLambchop on June 15, 2014, 12:11:54 PM

I hope the Bitcoin community is smarter than yeast.

But, but, but....

BOOZE!!!

grnbrg.

NotLambchop

sr. member

Activity: 378

Merit: 254

@countduckula: Brewer's yeast has a similar take on success. Given a limitless amount of sugar, It eats it and multiplies as fast as it can...
...while shitting ethanol, which inevitably kills it, giving us delicious booze.
I hope the Bitcoin community is smarter than yeast.

countduckula

full member

Activity: 140

Merit: 100

Keep speculation up to max.

Already expressed myself.

daemonfox

hero member

Activity: 630

Merit: 500

Quote from: countduckula on June 15, 2014, 10:54:52 AM

"stay were we get more return from our hardware."

Do you even listen to yourself?

How do you know for 100% fact where that is? What if all this is true, and it turns out getting your "best return" in real time destroys any future returns... then was it the best?

You can't quantify this argument in real time vs. the future, and if someone is taking advantage of the system, further participation with that entity will almost assuredly destroy any chance of anyone making the most out of it.

It is better to participate with an entity we can see is not causing a problem than to facilitate the troublesome entity we do see right now.

Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 27. (Read 452170 times)