955100+ entries in 0.647s
dub: so every bitcoin merchant has a mining farm
to confirm its
txn
mircea_popescu: there will be a dedicated box preparing
the mempool for mine rigs in most farms
mircea_popescu: jcpham i bet you in 2013 we will have special mining software allowing miner
to issue orders much like ip routing
tables
mircea_popescu: dub i can calculate how many asics i need
to have in order
to guarantee my payments make it witin an arbitrary
timeframe
mircea_popescu: so will pretty much every single service built on
top of bitcoin
mircea_popescu: mpex needs assurance
that idiots like luke-jr stay irrelevant.
mircea_popescu: think about it : i am going
to get a mining cluster which i will run for purely strategic reasons
jcpham: i'd really like
to acquire 3x singles
dub: I don't need
to
tell you
that
the only people who checked it out are serious miners
jcpham: i've been debating whether or not
to run more gpu/more fpga every day
dub: <mircea_popescu> when
that hungarian scammer showed up it he was checked out
the next day
kakobrekla: funny, 100mhash revenue in euro dollars is same as 1 year ago give or
take
dub: when people get sick of
the heat, noise and earning $2/week
they will get out
jborkl: people
that know what
to do with
them made money?
dub: mircea_popescu: exactly
the same
thing will happen as happened with gpu
gribble: burnside was last seen in #bitcoin-assets 1 day, 22 hours, and 30 seconds ago: <burnside> I don't
think so.
mircea_popescu: there is demand. come out with an inventory of asics you will sell 10-100k units in a month if you can actuyally deliver
them.
mircea_popescu: when
that hungarian scammer showed up it he was checked out
the next day
mircea_popescu: and if you
think people won't be buying asics at 1k a pop, let me
tell you something :
jurov: yes
the debpth (bottom graph) is wtf in firefox. but in konqueror+webkit it's fine
jborkl: instead of "he who has 200 dollars and spends his
time f5-ing amazon and knows how
to make fire hazard pics in his basement <LOL
dub: either eek out a
tiny margin on your gaming rig/hobby asic or go large
mircea_popescu: dub no because
the cost
to be
the
top dog will have went from own 500 items worth 200 each
dub: as soon as diff normalises its
the same game
mircea_popescu: i am arguing
that for every wanna-break
the world kid / bank clerk who
thinks he's a banker / duimbass kid who
thinks writing "options" on a webpage makes him an options
trader
dub: reality is asic mining will centralise much more
than gpu mining did
dub: it sounds like youa re arguing
that like gamers mining on
their 1-2 gpus, a lot of randoms will decide
to grab an asic and mine
deadweasel: I
think we can all agree
that
the continued eating of c0x by all users/miners/devs will improve bitcoin or it's bastard children.
mircea_popescu: unsuirprisingly,
they;'re mostly mental deffecrtive / weird / marginal doods.
miscreanity: asics are plug and play - gpus required a considerable amount of experise and se
to manage
mircea_popescu: there are MAYBE 1mn people in
this world who have
the skills
to run gpu rigs but do not have gainful employment
mircea_popescu: there are at least 100mn people in
this world who can spend 1k dollars.
mircea_popescu: it's just some people don't know how
to account, and so
the 5k "is free"
mircea_popescu: before
the cost
to play was, 200 bucks + 5k worth of computer competence.
dub: you
think mining will be more distributed with higher cost
to play?
mircea_popescu: instead of "he who has 200 dollars and spends his
time f5-ing amazon and knows how
to make fire hazard pics in his basement"
dub: not once
teh generational change has completed
mircea_popescu: anyone can run an asic. so... que
the end of
that system.
mircea_popescu: it did use
the cheap "anyone can run a gpu" fud
tactic, but in fact it was as centralised as it can get.
mircea_popescu: it was based on
the shaky foundation of marginal personal ability, cause running a gpu farm is a logistic nightmare.
mircea_popescu: people like gigavps, amazingrando, hashking et all had a disproportionate share of power in
the ecosystem
mircea_popescu: in my estimation, asic mining wll be a lot more decentralised
than gpu mining
dub: we're not
talkign about now
mircea_popescu: it never existed
to begin with. pseudonimity however is just as 100% as it always was.
mircea_popescu: mircea_popescu. more hardline
than stalin. just...
the other direction.
dub: so you're gettign back
to being a credit card
dub: and with centralisation you extinguish
the last facade of anonynimity
dub: its still kinda one of
teh selling points
mircea_popescu: there's no room for
the entitled poor in
the new world.
dub: yes
that is
the opnly option
dub: right, so much like we won't have
teh market you percieve as free for much longer, bitcoin will stop working
mircea_popescu: the miners,
the larger ones anyway, will be starting
their own clients
dub: well do
that
then but its chosing
the harder option
mircea_popescu: if
they don't follow i'm going
to start my own devteam and fork bitcoin.
mjr__: that is
the whole point of
the free market, everyone does what
they want
dub: its not like it would be unwelcome, gavin has
tried
to get rid of luke before
mjr__: if it was worth his
time or if he found it worthwihle
dub: mircea_popescu: so in a free market world, you should be joining
the foundation, lobbying for and funding your own devs
to correct
the problem
assbot: Ah, your hair. Your hair is soft. It's like a girl's. Now how do you get it
that way?
mircea_popescu: the correct syntax is !ticker m s.mpoe, but assbot is not
talking
to mpex atm.
assbot: Um, shouldn't you be with your own
tribe or somethin'?
assbot: You cannot stop
the clouds by
the building of a ship.
assbot: The round stones beneath
the earth... have spoken
through
the fire.
assbot: !ticker <exchange> <ticker> (desc: returns current
ticker values, supported: MPEX, HAVELOCK, BTCTCO)
mjr__: mt gox finally got
their websockets back up
mircea_popescu: rather
than
the incorrect dev attitude of "so don't do
that!"
mircea_popescu: the idea is
to
take
the correct dev attitude "o sorry we eat c0x. working
to fix"