Gold collapsing. Bitcoin UP.

satoshis_sockpuppet

Active Member
Feb 22, 2016
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He is laughing while he"s digging his own grave.
That is some special kind of CEO. But on the other side, who knows how much cash he got to help him through the halving and for persuading the Chinese miners. Maybe he is not stupid at all.

..

Nah. He is just stupid. Peter Todds special buddy.
 
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YarkoL

Active Member
Dec 18, 2015
176
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yarkol.github.io
Yes, yes, all hardware chips are ASICs....

FPGA - Computation is performed as a fixed hardware block on a chip can be re-configured (I have extensive domain knowledge here BTW)
ASIC - Computation is performed as a fixed hardware block on a chip that is fixed and can not be changed
Could there exist a PoW algo that has FPGA as its optimal unit?
For instance, an algorithm such that you'd have to reconfigure the hardware from time to time? Then you might be able to commodify the mining equipment (as I understand it, FPGA is somewhat easily available to hobbyists) but make massive scale operations uneconomical due to maintenance cost.
 
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cypherdoc

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Aug 26, 2015
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OK, I'm sure I understand the type of person we're dealing with now:

 
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Zangelbert Bingledack

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Aug 29, 2015
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Regardless of the ASIC resistance question and whether it would be a good idea, changing the PoW - or at least credibly threatening to - is one of the few ways to remind miners who's boss.

It comes at a cost of scaring future miners who would join, because even the ones who don't misbehave are punished (all miners who currently support Classic would be punished by a PoW change as well, even if it is intended for Core-supporting miners), but at some point that cost is potentially worth it.
 

cypherdoc

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Aug 26, 2015
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Clearly Mow seems to be reacting to Armstrong's Too Little article. But please be mature about it. You're a CEO for heavens sake:

 

satoshis_sockpuppet

Active Member
Feb 22, 2016
776
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It comes at a cost of scaring future miners who would join, because even the ones who don't misbehave are punished (all miners who currently support Classic would be punished by a PoW change as well, even if it is intended for Core-supporting miners), but at some point that cost is potentially worth it.
In my opinion we are pretty close to the "point of no return". Maybe I'll be positively surprised but atm I see Classic taking the same path XT took.
And the 2 MB Classic fork is already laughable if you want Bitcoin to succeed. People have to remember where the big blockers came from. 20 MB blocks tomorrow would be totally fine and Bitcoin would be the Number 1 cryptocurrency for the foreseeable future. But even 1/10th of that can't be done.

I don't see any big players like Coinbase ready to do that radical step yet but I think the should put that option on the table already. Start making demands and stop asking for favors from a Chinese mining cartel.
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,995
He is laughing while he"s digging his own grave.
That is some special kind of CEO. But on the other side, who knows how much cash he got to help him through the halving and for persuading the Chinese miners. Maybe he is not stupid at all.

..

Nah. He is just stupid. Peter Todds special buddy.
What's the link between Todd & Mow?
 

solex

Moderator
Staff member
Aug 22, 2015
1,558
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@Zangelbert Bingledack
My guess is a lot of pain.
BTCC & F2Pool have 38% of the hashrate and both are anti-Classic. BitFury also thrown their weight back towards Core and getting into a war of words with Marshall Long about not getting their name removed from the Classic website quick-smart enough. So 45% not happy to abandon the SegWit "scaling" solution.
 
Clearly Mow seems to be reacting to Armstrong's Too Little article. But please be mature about it. You're a CEO for heavens sake:

It was not the first time I'm confused with a statement of Samson.

His behavior against Brian Armstrong shows at least that he is that kind of winner other chieldren prefer not to play with.

I thought about if this is something special with chinese mentality. I don't know many chinese and do admire their culture, but sometimes I have the feeling that Chinese are not used to be important / to have attention / to get a compliment, and if that happens, they get an ego-flash, exaggerate and loose some kind of self-controll westerners are used to.

It may be that while westerners violate chinese behavioral standards by pushing their own ego in the center of all things, chinese people violate behavioral standards of the west by loosing self-controll if their ego is pushed.

Just an idea ...
 
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go1111111

Active Member

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
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@Zangelbert Bingledack
My guess is a lot of pain.
BTCC & F2Pool have 38% of the hashrate and both are anti-Classic. BitFury also thrown their weight back towards Core and getting into a war of words with Marshall Long about not getting their name removed from the Classic website quick-smart enough. So 45% not happy to abandon the SegWit "scaling" solution.
I have an idea.

If the price just stayed the same, come July there will have to be at least 1/2 of all miners to go out of business, if we're correct that they operate on thin margins which I think is a reasonable assumption.

So what if all of us as early adopters with significant numbers of coins actively worked to suppress the price from rising to wipe out these large irresponsible miners? It would be am expression of the will of the economic majority. The easiest, fastest way to effect a change we know will work to some degree.

Of course, the hook and crook of an idea like this is uncontrolled damage to the system and it not effecting the intended large miners being responsible for this mess. I won't name those who id like to see flushed just now but I'm sure you all have ideas.
 

agilewalker

New Member
Feb 23, 2016
20
58
It was not the first time I'm confused with a statement of Samson.

His behavior against Brian Armstrong shows at least that he is that kind of winner other chieldren prefer not to play with.

I thought about if this is something special with chinese mentality. I don't know many chinese and do admire their culture, but sometimes I have the feeling that Chinese are not used to be important / to have attention / to get a compliment, and if that happens, they get an ego-flash, exaggerate and loose some kind of self-controll westerners are used to.

It may be that while westerners violate chinese behavioral standards by pushing their own ego in the center of all things, chinese people violate behavioral standards of the west by loosing self-controll if their ego is pushed.

Just an idea ...
I wouldn't recognize Samson as a typical Chinese person. Check out his wiki page:https://en.wikipedia.org/wiki/Samson_Mow. Being a Canadian he is more likely influenced by western culture than eastern.
 

Zangelbert Bingledack

Well-Known Member
Aug 29, 2015
1,485
5,585
Or buy more to make the price rise so as to incentivize new miners to come in and crowd out the old ones :)

Until we get fork arbitrage happening on the exchanges I don't see any way to send an unambiguous signal through the price, barring a major salient event whereas we are likely to get a slow sapping instead which will make price action inscrutable and people will see what they want to see (every action by Core to pin the decline on will induce a reaction by anti-Core factions for Core supporters to pin the decline on - it's a dumb game).

@solex

I take comfort in knowing the worst enemies we can point to are those who say, "The price must go UP." I think Bitcoin is a band of mercenaries and no one gives a rat's ass about Core (or Classic, or BU - except for those few who are close to the projects). They just want the big bucks and are going with whatever seems to be the surest path to that.

For now I can see how going with Core seems the surest path, but it would be a mistake to think that this is due to any stated loyalty to Core and therefore a mistake to think that loyalty to Core would be prioritized endlessly over obvious considerations of Bitcoin's price and success.

How much pain that will take is probably related to how reliable people think Core is compared to the alternatives. I can also easily see how the alternatives look less reliable, despite Core's shortcomings. But as things start to fall apart, even just a little bit, there is not much incentive keeping these mercenary rats from jumping ship (both miners and devs).

As @Mengerian hinted at above, the very same wishy-washiness miners have shown thus far is why not to take them throwing their support toward Core very seriously.
 
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satoshis_sockpuppet

Active Member
Feb 22, 2016
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They just want the big bucks and are going with whatever seems to be the surest path to that.
There are "big bucks" and there are "real fucking huge bucks" to make with bitcoin. I see a possibility to make big bucks in the next 1-2 years where bitcoin degenerates to another failed ecash while it is hyped by blockstream etc. After that it's going to be dead. I think a lot of miners would be ok with that. Longtime holders and bitcoin enthusiasts not so much.
Another possibility would be the original vision of bitcoin which I am certain would be x times more valuable than any blockstream share will ever be. At the moment everything points to direction A, sadly.

One positive observation: I thought we would see a much higher price after the "consensus" promulgation. It appears there aren't to many idiots left to buy company owned bitcoins.
 

sickpig

Active Member
Aug 28, 2015
926
2,541
Jonathan Toomim is not listed anymore on BitcoinClassic.com developers list. what happened?
 
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I wouldn't recognize Samson as a typical Chinese person. Check out his wiki page:https://en.wikipedia.org/wiki/Samson_Mow. Being a Canadian he is more likely influenced by western culture than eastern.
Hehe, so my culturalism failed and he's just a strange character ... but in these days everybody seems to be appointed to affront Brian Armstrong ...
 
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