Steve,

you articulated the most succinct, logical, & pertinent rapid fire explanations of Bitcoin Freedom under time pressure i've ever seen to date.  congratulations. this is a big deal.

Personally i prefer Ghash because they offer a userfriendly website. I can automatically split the income between several wallets for example.

And most mining pools offer apps to check your hasrate on your phone or on a google chrome plugin. So you don't have to check all the time if your miner is still running.

If those things would be created for P2P to make P2P as userfriendly as Ghash than personally i would love to join P2P. But ight now it's just too much of a hassle.

I think one of the big flaws with any discussion of the volume of Bitcoin moving around is the fact that it can be transferred from one address to another where both addresses are owned by the same group or individual.

With a transaction fee of 0.0001 you could create an enormous amount of "transaction volume" on the network with just 1BTC moving from address to address but never leaving the control of a single owner.

KGW won't do anything meaningful for Bitcoin. Even if the Bitcoin difficulty is adjujsted every block, there will still be periods where the average time between blocks is more than 10 minutes. Since the process of finding a block remains a Poisson process, regardless of what algorithm you use to tune the difficulty, block-delays of 30 minutes or more remain a completely real possibility.

The KGW algorithm is designed to combat a block-drought that comes from a sharply decreasing hashrate. As long as the hashrate doesn't go down rapidly, there is no real advantage to using KGW. If blocks take 11 minutes on average instead of 10 for a week or two, then that hardly matters and people won't even notice it unless they look at the data, since the variance in block-delays will obscure these structural deviations from the target average.

And since there is no reason to assume that the Bitcoin hashrate is going to sharply decrease (and not recover), there is no need to update the difficulty algorithm, which would require a hard fork.

I'm not sure this is real or not...but you should also interview people that mined back when it first started that COULD'VE been at least wealthy.


I know the sad stories are the people that had their bitcoins stolen, but I mined hundreds/thousands of bitcoins and just forgot about them.  At the time they were worth maybe $3.....after being worth $20+ (kinda near beginning)

I Admin at a Enthusiast Computer Hardware website and still remember the first thread about Bitcoins.  "How to pay for your Expensive Video Cards"  I was "at the time" an avid overclcoker and had about 8 Ati 5870's and 5 5850's just laying around.  Previously being used to run benchmarks for scores.  up to quad-tri-cross Fire lol  

I had the craziest setup in my house and still to this day I credit those rigs teaching my son about troubleshooting computers/hardware.

Bitcoins hovered around $3 for the longest time and being an overclocker I would reformat 50 times a month ...I just forgot about them and the pool I mined in.  A lot was just mining with no pool.  Having a family.... words can't describe how sick I've been since December.

anyways it would be cool to see something about the rise of Bitcoins.


ps...I'm more disappointed that I didn't continue to mine.  

LOL snowden seriously gets cheeky now he is hiding behind the beacon of true democracy and civil liberties (russia).

Also, if you think this is even remotely true, you are foolin yourselves. Those info are out of date, and honestly not something people can't find out by hacking USPS or something.

It's not about what you can do. It matters more what happens afterwards.

In this kid's case, he had to bitch out and run to fucking china and russia to keep from getting ass fucked to pieces. What a circus when reality meets smartass internet 'heroes' eh?

LOL

When people stop defending hodling - this will be the mark that we can be close to the bottom.