Quote from: JoelKatz on August 09, 2011, 06:53:47 PM

Quote from: spectra on August 09, 2011, 06:42:41 PM

That is not a fact. I am sorry, but that seems to be an assumption you made based in some biased view of the game. Those "non-hoppers" that are in the pool might not even had what to share among them if not by the hashing power added (briefly) by the hoppers. Let me put it this way: if a non-hopper would be given this choice: (a) mine in a pool which accepts only non-hoppers and take a week to solve a block or (b) mine in a pool which accepts hoppers and non-hoppers and solve a block in half a week, what do you think the non-hopper would choose?

The first choice, since it gives him a higher return per share.

Unlikely. Unless one doesn't understand the randomic nature of the distribution of block rewards. In that spare half-week that same pool could have found 3 more blocks (or not Wink

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Quote from: JoelKatz on August 09, 2011, 06:53:47 PM

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It all comes down to the fact that profit cannot be taken in account alone and depends on time. I want to have 1 million dollars in account, but I want it now... not when I am too old to spend it. So, non-hoppers would choose (b). So should everybody. And that is the (oversimplified) economics of it.

Would you rather have a thousand dollars in a week or two thousand dollars in two weeks? Unless you either desperately need money now or are a moron, you would take the two thousand dollars in two weeks.

Hm... I might be dead in another week... Difficulty could sky-rocket and render my poor GPU unprofitable. Come on... this is basic economics... money now is more valuable than money in a week... All this argument is just because we don't agree on how much time should be considered. One more reason to let pool hoppers be. After all, as another poster says:

Quote from: joulesbeef on August 09, 2011, 06:09:47 PM

tell me this... did you come to bitcoin mining before our after it became profitable.. will you leave if the price drops to a penny? if yes congrats you are a hopper.

IMHO, calling pool hoopers dicks is the same as calling Satoshi Nakamoto or Gavin Andresen (or any of bitcoin starters) dicks.