863100+ entries in 0.618s
mircea_popescu: jborkl yeah, all
the shit he stole from people, and all
the shit his friends stole from people.
fractal: mircea_popescu: some devs expressed
the same sentiment as me regarding botnets
fractal: id rather have
the botnets
fractal: jborkl: good point on
the botnet -- not sure if
thats worse
then centralized ASIC mining
though.
jborkl: we just got rid of
that shit
fractal: I dont know if its possible for such a PoW
to exist -- but i
think it can be close
jborkl: no,
that was called a botnet
fractal: kako, a PoW
that was most efficient on standard computer hardware would be
the best
to use, IMO, it would make centralized mining more difficult.
mircea_popescu: basically diff explodes at an exponential rate and somehow people are concern-trolling about how
there's not enough parts out or some shit.
jborkl: wasnt
there a buttsexcoin?
jborkl: wait, you know
there is LTC right?
ThickAsThieves: "With ASICMINER
today announcing blades for as low as 3.5BTC, it appeared
that Avalon chips
that do not mine
today are not going
to break even any more. While
those blades went already out of stock after some hours,
the new price for mining rig is officially set. Essentially
this means
that if Avalon does not ship
the remaining chips fully within
the next
two weeks,
they become worth
fractal: kakobrekla: big miners will lose
the vote
to small miners who would likely start using a new PoW if it meant
they could mine on
their own rigs again from parts
they buy at
the store
mircea_popescu: on
the other layer,
there's no particular advantage
to any one structure of
transistors.
mircea_popescu: what with gavin going on about introducing a server
that can
turn off
transactions etc.
mircea_popescu: fractal
there's
two layers. on one layer, all
this is roughly aggitation from a bunch of dishonest people
trying
to serve
the interests of
their political masters.
jborkl: why would we want
to go
to scrypt?, screw
that
kakobrekla: but big miners will not want
to change it
fractal: mircea_popescu: also, Dan Kamisky
thinks
the SHA algo will be replaced due
to centralized mining --- he seems
to be a pretty smart guy ;)
mircea_popescu: that's one sad
turn of events
tbh,
they certainly impressed back in
the fpga days when
they figured out what old chips bfl sanded off
to pass as
their ip
jborkl: Activemining - also seen information
that
they are not getting
the 20,000 chips
fractal: gmaxwell said
that a
tough PoW algo
that used all aspects of a general-purpose computer could still probably be sped up by up around 20% on custom hardware --- but
that isn't much of a margin
to make it worth it until
the market cap and mining reward are very high
jborkl: gone
to complete shit also
jborkl: burnin,
that actually made a nice board with Avalon sample chips
ozbot: [Work in progess] Burnins Avalon Chip
to mining board service
fractal: A PoW
that required lots of disk-access, RAM, and processing power, would sort of make custom hardware useless
to build --- assuming
that such a PoW algo could be made
mircea_popescu: what makes you
think i'm not humble when you display
the unmitigated audacity
to pick numbers ?
fractal: mircea_popescu: I understand
that custom hardware could be build for any algo, but my goal would
to make it not cost-effective until
the coin had a market cap of say $100B
fractal: Thats correct -- my assumption is
that
the best PoW would be one
that performs best in common computer hardware -- using all aspects -- RAM, Memory, and computing power
mircea_popescu: midnightmagic seriously, how's
the ethicalness going
these days ?
jborkl: you cant make a algo
that could only be done in gpus
Scrat: fractal: you're implying
that algo's cannot be done in custom hardware
jborkl: that is just one of
the pages, lemme find more
mircea_popescu: you're not
the only person, but you're wrong along with
the rest of em
fractal: Am I
the only person who
thinks
that
the network will be stronger if
the PoW was changed
to a algo
that couldn't be performed in custom hardware? (i..e gpu's only)
gribble: Next difficulty estimate | 78149439.9984 based on data since last change | 85687460.5852 based on data for last
three days
fractal: of course, delayed is just as bad as not shipping at all since if difficulty is
too high,
the chips are useless ..... but
thats another argument
jborkl: not
that i did before heh
jborkl: you sure, I have seen stuff
today
that is leading
to
think
they are never coming
fractal: jborkl:
then shipped
to chineese resellers first, according
to rumours , before international orders...
thats why people are mad
fractal: jborkl:
they're coming, but delayed....
jborkl: wtf is going on with
the Avalon chips,
they finally admitted
there are none coming?
ThickAsThieves: i recall
the girl not realizing how many coins AM had actually paid out
to shareholders
fractal: hahahah you gotta love mircea_popescu's confidence ;) i actaully love seeing MPOE-PR posts on
the forums and
the rage replies.... although it will only work as long as he's right about everything ;)
zoinky: because
they are billionaires
fractal: ThickAsThieves: no idea why
tech billionaires haven't bought up 100K+ BTC
mircea_popescu: ThickAsThieves because while it could end up realising
that power, odds are it won't. judging by
the average iq and ability of people involved...
fractal: ThickAsThieves: we're smarter
then everyone else. im actually serious.
fractal: mircea_popescu: yes, but
the actual impact of it is mostly overblown in americas case.... its mostly a laissez fair keynesian capitalist state
mircea_popescu: the mechanisms and physiology is quite different from
the capitalist state
mircea_popescu: fractal
this particular state-corporation ammalgamation is what historical fascism is known for economically.
fractal: the corporations and
the state share
the same intrests -- its obvious
they would help eachother
gribble: A market order
to buy 50000 bitcoins right now would
take 8575337.2782 USD and would
take
the last price up
to 300.0000 USD, resulting in an average price of 171.5067 USD/BTC. | Data vintage: 0.0045 seconds
fractal: Basically
the NSA government uses large corp's
to help
them gather information -- nothing
that is surprising or out of
the ordinary. i dont know why people are shocked at
the news. all states , communist, fascist, or otherwise do
this
fractal: haha... you've been reading
the zerohedge article on assange and schmidt meeting?
mircea_popescu: but yes, in a historical perspective
this is correct, had it been a few decades late it'd have bnever vbeen possible as such
ThickAsThieves: more likely
to have Amazon or Google coin as a
threat
than
the usacoin
fractal: mircea_popescu: maybe... it will be interesting
to see how it plays out in a few years. i predict
the US minting virtual currency is a certainty at some point
mircea_popescu: which
there isn't, and so bitcoin is soon enough on
this score.
mircea_popescu: the only way
the state
thing could seriously disrupt was if
there were only one state.
mircea_popescu: fractal not really. people would keep
their savings in btc and buy chinacoin/uscoin/swisscoin as needed
fractal: its more of a 'USCoin is legal
tender, and you can pay
taxes in USCoin'
that means people will have
to sell BTC
to buy USCoin
to pay
taxes -- UScoin will be more valuable
mircea_popescu: put 10 units of faith in your state chain and by
that fact 14 into bitcoin
ThickAsThieves: if
they want
to commit
to even attempting an Americoin,
theyd need
to back it
mircea_popescu: actually state sanctioned chains would make bitcoin worth more
than
the sum of all
the chains just on
that strength alone
zoinky: even if
they did, i bet
the exchange rate
to BTC would be
the same as USD
fractal: mircea_popescu: yes, due
to sheep using it
fractal: USACoin would be adopted quickly with government backing, and likely grow
to a larger marketcap
then BTC
fractal: ThickAsThieves: although, I see when governments realize what crypto-currency implications are --
they will issue state-sanctioned alt-chains....
this
the
the only
thread
to BTC
jurov: ^ i have a bit of an issue with
this :)
ThickAsThieves: it's very difficult for people
to digest
that bitcoin will disrupt
mircea_popescu: "o, we have a mandate fgrom
the voters" "well, d othose voters hold any birtcoin ?"
fractal: ThickAsThieves: which makes it even better when you end up being right... your brilliance will shine
throughout
the ages
fractal: it will be interesting
to see MPEX replace carlos slim on forbes
top 100
though ;)
fractal: I really
think world governments have no clue what is going
to hit
them in 2-3 years
ThickAsThieves: whats
the command
to see
the avg price up and down
the gox orderbook?
mircea_popescu: which as a side point makes all
the sec posturing rather lol.
mircea_popescu: not make a few million. fuckall cares.
the idea is
that
the us president will
take office upon swearing an oath
to
the conclave of bitcoin.
mircea_popescu: we're her
to
take over
the world and reshape it drastically