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Bitcoins - anyone else mining? (1 Viewer)
- Thread starter Charlie Frown
- Start date
Jojo the circus boy
Footballguy
According to you buying something and returning something is the same thing
...as well as postulating is the same thing as stating fact, you truly are a lost cause
SMH
LOL, you are funny. Your response to everything is picking apart everything that doesn't matter. Ooh, I mistyped a word. Ooh, you think I don't know what challenge means? Are you really that dense? I typed your words from your quote. This is my last post in here because you don't respond to questions only try to pick apart what you think other people say. Example:
1. How did I misrepresent "challenge" in any way? It seems my interpretation of bitcoinstore's challenge was correct. They said they would shut down if Amazon accepts bitcoins. Guess what, a logical interpretation of that is they are saying that if Amazon doesn't then bitcoinstore will continue to accept bitcoins as payment on their site and thus grow to become a competitor. How is that wrong? Are you saying that bitcoins will fail? Isn't the implied message that if Amazon doesn't accept bitcoins that bitcoinstore will grow into a legitimate as bitcoins explode? Or is the point of bitcoinstore to not do well?
2. In what way is my statement about your linked betting site taking a bet on Kate Middleton indicating that I don't know that users submit bets? Do you think I missed that you have to register and do you think I missed the submit link seeing as there are only 5 menu items? I was making fun or being sarcastic (look, I didn't type an H, yeah!) that your link to validate your "Wow" was a betting site that is barely doing anything and where a bet on Kate Middleton is getting almost as much as action as bitcoin bets. Do you think that makes the bitcoin betting you linked a little less powerful? I do.
You still can't grasp that the URLs you provide to back your statements are about as bad as they come. Stop the US Gov't from murder, buy bitcoins!
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Ignoramus
Footballguy
I will bet you $100 that neither Amazon nor NewEgg will start taking bitcoin payments directly by July 31st at midnight of this year.
Jojo the circus boy
Footballguy
...and you will give me better odds (5.14 : 1) than is posted in the above link? Even if you would, I still wouldn't take the bet because I don't think it is likely to happen by July 31st.
fyi if PayPal starts accepting BitCoins as a payment method (in case they are worried about Ripple), then you could place orders with NewEgg with bitcoins through paypal and yes you could return merchandise and get customer support...I realize this doesn't conform to the "directly" verbiage that everyone is so adamant about here, but it accomplishes the same thing.
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Jojo the circus boy
Footballguy
LOL, you are funny. Your response to everything is picking apart everything that doesn't matter. Ooh, I mistyped a word. Ooh, you think I don't know what challenge means? Are you really that dense? I typed your words from your quote. This is my last post in here because you don't respond to questions only try to pick apart what you think other people say. Example:
1. How did I misrepresent "challenge" in any way? It seems my interpretation of bitcoinstore's challenge was correct. They said they would shut down if Amazon accepts bitcoins. Guess what, a logical interpretation of that is they are saying that if Amazon doesn't then bitcoinstore will continue to accept bitcoins as payment on their site and thus grow to become a competitor. How is that wrong? Are you saying that bitcoins will fail? Isn't the implied message that if Amazon doesn't accept bitcoins that bitcoinstore will grow into a legitimate as bitcoins explode? Or is the point of bitcoinstore to not do well?
2. In what way is my statement about your linked betting site taking a bet on Kate Middleton indicating that I don't know that users submit bets? Do you think I missed that you have to register and do you think I missed the submit link seeing as there are only 5 menu items? I was making fun or being sarcastic (look, I didn't type an H, yeah!) that your link to validate your "Wow" was a betting site that is barely doing anything and where a bet on Kate Middleton is getting almost as much as action as bitcoin bets. Do you think that makes the bitcoin betting you linked a little less powerful? I do.
You still can't grasp that the URLs you provide to back your statements are about as bad as they come. Stop the US Gov't from murder, buy bitcoins!
So whenever you are called out for ignorance your defense is sarcasm, that's rich. That's why you were posting Amazon's monthly revenue not because you thought challenge meant to put them out of business, but because you were being sarcastic.
Jojo the circus boy
Footballguy
Clearly whenever two people have a difference of opinion on a message board bet challenges have to be made to prove how important their point being made is.
Ignoramus' Law states "As an online discussion grows longer, the probability of a real money wager challenge being made against a dissenting opinion approaches 1."
So you're accepting bets about Amazon or Newegg accepting bitcoins directly by 7/31?
Geez, I can't stay away.
What the hell are you talking about? I posted Amazon's monthly revenue to give you a scale of how silly their challenge to Amazon was. Could you answer a damn question? What was the point of their challenge? I am pretty sure the challenge was to try to get Amazon to accept bitcoins by showing them in three months they have done almost a half a million in revenue even though the web site doesn't even work properly, which is 1/33,000th of Amazon's revenue.
They said, we shut down if Amazon accepts bitcoins by July, right? Guess what, there is another side to that challenge. Maybe you have heard of it before, it usually goes "or else" and the or else here is that they stay in business to try and make money, which is amazingly the opposite of shutting down. If there isn't an or else, what the heck is the challenge? Please tell me oh infinite Oracle of knowledge, what is the other side? If you are saying that bitcoinstore has no chance to be successful, it invalidates all your rah rah posts earlier. Am I exaggerating just like you in saying that they will bring Amazon to their knees? Of course I am because I am trying to counter your goofy cheerleading posts, but that still doesn't invalidate my point that the or else of Amazon not accepting bitcoins is the bitcoinstore implying that they will continue to grow as bitcoins do and start affecting Amazon's revenue.
Seriously, please enlighten us as to what you think the point of the challenge was and what the implication of Amazon not accepting the challenge is. In your words fill in the "Wow" of what you think will happen.
Ignoramus
Footballguy
I thought not.
Mr. Pickles
Footballguy
People seem to be ruining their lives over fake math problems and invisible coins.
Ignoramus
Footballguy
Are the mathematical problems that all this computing power is devoted to solving at least something useful, like cracking the orangutan genome or developing a better boner pill?
Jojo the circus boy
Footballguy
You are worse than Otis offering even money bets (to people not named Chet) when the books are offering much better.
Jojo the circus boy
Footballguy
To quote my man Ignoramus, I thought not. No way would you actually respond or answer anything.
mattdaddy
Footballguy
I would say the resources are devoted to conducting an experiment with a virtual currency in the technology age. Although indirectly, It seems like pretty useful information.
Mr. Pickles
Footballguy
Maybe I'm wrong, but it seems to largely serve as a means of distributing where the technical barrier is unusually high. Why Bitcoins should be distributed to guys with the most impressive computational rig is completely lost on me.mattdaddy said:
I also don't understand the analogies to services like PayPal. PayPal doesn't mint their own currency. The idea that a private enterprise is effectively inventing a vehicle of wealth and distributing it to "worthy" candidates seems strange to me.
mattdaddy
Footballguy
I'm not sure but I suppose the idea is akin to why gold miners with all the expensive machinery and land rights get the most gold. Which reminds me of one of my favorite fun facts. In the California Gold Rush the most successful business people sold pickaxes and wheelbarrows.
Fennis
Footballguy
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Whitetail Hunter
Footballguy
Some of the biggest advances in internet have been from the porn and gaming sites. Nothing new.
mattdaddy
Footballguy
I was just making reference to what Fennis posted. But yeah they have contributed positively and negatively to the technical community. If the porn industry gets behind it congress is going to have a tough time stopping it I'm sure.
dparker713
Footballguy
Nope, and all the power consumed is bad for the environment.Ignoramus said:
mattdaddy
Footballguy
Seems to me they are the same as digital coins just like the ones produced in video games. it's just that this game is "crack the code" and the coins are more widely accepted. But what if people started accepting candy crush coins for physical goods. Should congress try and put a stop to it?
Jojo the circus boy
Footballguy
http://www.coindesk.com/sealand-to-adopt-bitcoin/]Sealand has expressed an interest in adopting Bitcoin if price stabilizesmattdaddy said:
https://github.com/MeshachBlue/compushare talks about using the bitcoin mining network to solve partitions of monte carlo simulations, paying them for their effort in bitcoins and allowing the miners decide if this is more profitable for their time spent than mining actual bitcoins
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Jojo the circus boy
Footballguy
Exactly. If people are investing their own money in hardware and utilities to help mine the coins they should be rewarded and to add to your last point, the people making the hardware to mine aren't doing too bad, lots of ASIC competition has recently sprung up.
Jojo the circus boy
Footballguy
Cliff Clavin
Footballguy
Sarnoff
Footballguy
1) Sealand, really?
2) Isn't the point of Bitcoins that the price doesn't stabilize?
Holy crap, where does he get these links from and how does he possibly think they help his points. Slapdash is right, he is running a false flag operation against bitcoins.
Jojo the circus boy
Footballguy
17.6 petaflops: Computing power of Titan, the world’s top supercomputer
162 petaflops: Combined computing power of all 500 of the world’s most powerful supercomputers
1,085 petaflops: Current computing power of the computers linked together in Bitcoin’s network
162 petaflops: Combined computing power of all 500 of the world’s most powerful supercomputers
1,085 petaflops: Current computing power of the computers linked together in Bitcoin’s network
Dan Lambskin
Footballguy
So this is how Skynet gets started
Politician Spock
Footballguy
I think all the time I spent playing Duke Nukem 3D back in the day should be worth a few Bitcoins.
Mr. Pickles
Footballguy
Jojo the circus boy
Footballguy
you think they are worthless so why do you care?
if someone buys a boat and underwater excavating equipment and the gas to support them shouldn't they get to own what they find?
Put another way when banks or other financial service providers process transactions don't they get paid via transaction fees? This is really no different, you are paying for the digital currency superhighway to create the currency and the infrastructure which processes the transactions.
Politician Spock
Footballguy
Are we talking in reality, or in Wreck It Ralph?
Mr. Pickles
Footballguy
Actually, no.. I don't. Not necessarily, anyway. I'm open to the idea, but I'd like some convincing. So convince me instead of being a defensive shill.
I think this is where I get lost. Bitcoins are being distributed and treated like money. There are two aspects of them: their implied value and the mechanism by which they are exchanged. Most of your posts defend Bitcoins by highlighting comparisons with wire transactions and PayPal. If Bitcoins offer a more secure method of transferring money, that's fine, but that doesn't get to the point about what a Bitcoin is actually worth. What we see is Bitcoins being generated in a purely arbitrary fashion and being assigned some value rather than being exchanged in lieu of something that has present value. The method of generation and distribution of this new currency is some arbitrary and unuseful task.
Jojo the circus boy
Footballguy
The decentralized network wouldn't exist if there wasn't a payoff to those supporting it. It's not just creation of the currency but maintaining the blockchain (the ledger).
Mr. Pickles
Footballguy
Yeah, this still isn't clicking for me. Why distribute them to nerds with giant gaming rigs?
Fennis
Footballguy
dparker713
Footballguy
I think this is where I get lost. Bitcoins are being distributed and treated like money. There are two aspects of them: their implied value and the mechanism by which they are exchanged. Most of your posts defend Bitcoins by highlighting comparisons with wire transactions and PayPal. If Bitcoins offer a more secure method of transferring money, that's fine, but that doesn't get to the point about what a Bitcoin is actually worth. What we see is Bitcoins being generated in a purely arbitrary fashion and being assigned some value rather than being exchanged in lieu of something that has present value. The method of generation and distribution of this new currency is some arbitrary and unuseful task.
The decentralized network wouldn't exist if there wasn't a payoff to those supporting it. It's not just creation of the currency but maintaining the blockchain (the ledger).
If exponential computing power is required, won't the incentives to this backbone need to increase overtime? Instead its going to be static. Say some of these superrigs only run continuously for a year before they breakdown and then people decide its not worth the investment to replace the rig. If the computing power attacking these new harder problems is suddenly scaled back to levels of the GPU days, couldn't the network stall out?
Jojo the circus boy
Footballguy
Ripple and Dwolla are closer parallels to paypal than bitcoin:
http://lemon.ly/wp-content/uploads/2013/04/Dwolla-PayPal-Infographic-Lemonly-Final.jpg]dwolla vs. paypal
Bitcoin is more closely compared to gold as a store of wealth, via Forbes:
http://tech.fortune.cnn.com/2013/05/23/why-paypal-is-bullish-on-bitcoin/
http://lemon.ly/wp-content/uploads/2013/04/Dwolla-PayPal-Infographic-Lemonly-Final.jpg]dwolla vs. paypal
Bitcoin is more closely compared to gold as a store of wealth, via Forbes:
http://tech.fortune.cnn.com/2013/05/23/why-paypal-is-bullish-on-bitcoin/
Politician Spock
Footballguy
While I'm far from being a bit coin evangelist, that seems to be more fair than how dollars come into existence. At least everyone has the right to bring bitcoins into existence. With dollars, only banks can bring dollars into existence. Even the US government can't bring a dollar into existence. The last time it did was when Lincoln did, which quickly led to the Banking Act in 1963 to stop that from ever happening again.
Whitetail Hunter
Footballguy
Mr P--
The value of bitcoins is being set by the market just like a stock on the NYSE.
One of the big advantages of bitcoins is the low fees associated with transferring them. Much lower than PayPal. There are certainly many shortcomings at this time, but I believe they are being addressed. They are not user friendly at this point--your grandmother isn't going to feel comfortable buying bitcoins.
The value of bitcoins is being set by the market just like a stock on the NYSE.
One of the big advantages of bitcoins is the low fees associated with transferring them. Much lower than PayPal. There are certainly many shortcomings at this time, but I believe they are being addressed. They are not user friendly at this point--your grandmother isn't going to feel comfortable buying bitcoins.
Whitetail Hunter
Footballguy
Mr P--
The value of bitcoins is being set by the market just like a stock on the NYSE.
One of the big advantages of bitcoins is the low fees associated with transferring them. Much lower than PayPal. There are certainly many shortcomings at this time, but I believe they are being addressed. They are not user friendly at this point--your grandmother isn't going to feel comfortable buying bitcoins.
The value of bitcoins is being set by the market just like a stock on the NYSE.
One of the big advantages of bitcoins is the low fees associated with transferring them. Much lower than PayPal. There are certainly many shortcomings at this time, but I believe they are being addressed. They are not user friendly at this point--your grandmother isn't going to feel comfortable buying bitcoins.
Jojo the circus boy
Footballguy
Current Bitcoin status: not mining
Didn't want to tax my GPU, what you quoted was CPU mining anyway. I'll probably pickup an ASIC box in the next few weeks.
