djc
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 14
Joined: Tue Sep 29, 2015 7:03 pm

The war on miners in bitcoin.

Thu Oct 13, 2016 6:05 am

http://www.wallstreettechnologist.com/2 ... -industry/

We must help dispel the myth that mining is 'broken' in bitcoin. It seems to be broken only to those miners who aren't profitable anymore, and the devs that they manage to lobby to their cause on pure 'technical' reasons.

Ripcrow
Posts: 3
Joined: Tue Oct 11, 2016 6:37 am

Re: The war on miners in bitcoin.

Thu Oct 13, 2016 9:15 am

The model is broken. I'm only new to this and researching I find Bitcoin was supposed to be a decentralised currency. With certain countries being able to mine more effiently the mining for Bitcoin by independents has come to a halt. Personally I see bitcoins future a bit messy. As more independent miners drop out the large miners will pick up the slack and the currency will become centralised and value manipulated by those who hold the most volume.

iFixBTCmemoryIssues
Gold Bitcoiner
Gold Bitcoiner
Posts: 2682
Joined: Tue Nov 24, 2015 9:03 pm

Re: The war on miners in bitcoin.

Thu Oct 13, 2016 7:32 pm

http://www.wallstreettechnologist.com/2 ... -industry/

We must help dispel the myth that mining is 'broken' in bitcoin. It seems to be broken only to those miners who aren't profitable anymore, and the devs that they manage to lobby to their cause on pure 'technical' reasons.
We have bad actors in the crypto-currency market, those being BTCC & Bitfury. Eliminate them, eliminate the problems. Most other miners are peaceful, enjoy making coin and evolving the security of the network as a whole.
Image

If you are running a version of Bitcoin Core, stop using it. Upgrade to Bitcoin Unlimited or Classic immediately.

Fix Your Unconfirmed Transaction.

Vote for the future of our Bitcoin network!

User avatar
klaaas
Bronze Bitcoiner
Bronze Bitcoiner
Posts: 418
Joined: Fri Sep 23, 2016 8:17 pm
Location: NL

Re: The war on miners in bitcoin.

Thu Oct 13, 2016 8:16 pm

I find Bitcoin was supposed to be a decentralised currency.
It is... Bitcoin is a peer-to-peer currency. These tasks are managed collectively by the network.

may i suggest bitcoin.it/wiki/Main_Page

miffman
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 81
Joined: Tue Sep 20, 2016 8:55 am

Donate BTC of your choice to 19GFXUea9mFGeTiWpGaQWFiazuH3koCnsZ

Re: The war on miners in bitcoin.

Thu Oct 13, 2016 10:13 pm

Mining is not 'broken'. Just because it is not profitable for solo mining or small groups, it does not mean it is broken.
Image

User avatar
michaelqtodd
Posts: 2
Joined: Fri Oct 14, 2016 6:43 am

Re: The war on miners in bitcoin.

Fri Oct 14, 2016 6:59 am

Mining is going great I am still getting good daily payouts via Bitclub we are in the top 10 in the world https://blockchain.info/pools?timespan=4days - Constantly in the TOP 10 mining operation worlwide.

User avatar
mjglqw
Silver Bitcoiner
Silver Bitcoiner
Posts: 804
Joined: Sat Aug 06, 2016 8:26 pm

Donate BTC of your choice to 13cj1xgP4bdK567NDgjyXLZEQLmZszSzEa

Re: The war on miners in bitcoin.

Fri Oct 14, 2016 9:29 am

http://www.wallstreettechnologist.com/2 ... -industry/

We must help dispel the myth that mining is 'broken' in bitcoin. It seems to be broken only to those miners who aren't profitable anymore, and the devs that they manage to lobby to their cause on pure 'technical' reasons.
We have bad actors in the crypto-currency market, those being BTCC & Bitfury. Eliminate them, eliminate the problems. Most other miners are peaceful, enjoy making coin and evolving the security of the network as a whole.
How'd you say BTCC & Bitfury are "bad actors" in the crypo market?

Ripcrow
Posts: 3
Joined: Tue Oct 11, 2016 6:37 am

Re: The war on miners in bitcoin.

Fri Oct 14, 2016 12:54 pm

How is it not central When most hashing is done in China. How secure is 50% of Bitcoin mining power to military or civil unrest

User avatar
inBitweTrust
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 82
Joined: Tue Apr 19, 2016 3:53 am

Re: The war on miners in bitcoin.

Fri Oct 14, 2016 9:26 pm

http://www.wallstreettechnologist.com/2 ... -industry/

We must help dispel the myth that mining is 'broken' in bitcoin. It seems to be broken only to those miners who aren't profitable anymore, and the devs that they manage to lobby to their cause on pure 'technical' reasons.
We have bad actors in the crypto-currency market, those being BTCC & Bitfury. Eliminate them, eliminate the problems. Most other miners are peaceful, enjoy making coin and evolving the security of the network as a whole.
How'd you say BTCC & Bitfury are "bad actors" in the crypo market?

Bitcoin club is a cloud mining ponzi , but Bitfury is a very valuable ASIC manufacturer and miner as they represent the largest mining hashrate in the US decentralizing the hashrate and are one of the only alternatives to competitive ASIC devices one can buy besides bitmain. There needs to be more ASIc manufactures as is because 2 competitive ones aren't good enough. Bitfury also does a lot of really great research for free that is invaluable to the community :

http://bitfury.com/white-papers-research

User avatar
inBitweTrust
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 82
Joined: Tue Apr 19, 2016 3:53 am

Re: The war on miners in bitcoin.

Fri Oct 14, 2016 9:30 pm

ViaBTC and any cloud mining operations are pools to avoid right now . ViaBTC is attempting to block bitcoin from growing in capacity and scaling against most of the communities wishes. They say they are for scaling , but their actions suggest otherwise.

KnightRiderone
Posts: 5
Joined: Fri Oct 14, 2016 8:21 pm

Re: The war on miners in bitcoin.

Fri Oct 14, 2016 10:08 pm

I miss those days when mining used to be profitable for end users who could mine a few bitcoins with their PC or laptop. The irony is that at point the difficulty levels were very low and so was the value. You would probably feel happy if you could order a pizza with the days bitcoin earnings
http://www.wallstreettechnologist.com/2 ... -industry/

We must help dispel the myth that mining is 'broken' in bitcoin. It seems to be broken only to those miners who aren't profitable anymore, and the devs that they manage to lobby to their cause on pure 'technical' reasons.

iFixBTCmemoryIssues
Gold Bitcoiner
Gold Bitcoiner
Posts: 2682
Joined: Tue Nov 24, 2015 9:03 pm

Re: The war on miners in bitcoin.

Fri Oct 14, 2016 10:09 pm

Bitfury is associated with Blockstream (as per Adam Back)

BTCC is associated with Blockstream (as per Samson Mow)

The list of problems surrounding the above 2 companies, including Blockstream, can be seen by clicking my profile link and viewing the complaints thread.

ViaBTC is its own pool, making its own choices, all while supporting the original Satoshi plan which has been beyond successful, it's produced spectacular results, all while keeping us safe.

The only ones attempting to change this plan are Bitfury, BTCC, Bitcoin Core, and whichever followers they were able to corrupt in their scheme. Their scheme is simply a mega "heist".

If your own plan is to make income for the next hundred years (approx. 1 BTC value in 2140 ~$1.2B), then the only choice is to join ViaBTC or Bitcoin.com's mining pool (or whichever pool you feel comfortable with that supports Bitcoin Unlimited).

Otherwise, your investment will turn to disaster.
Image

If you are running a version of Bitcoin Core, stop using it. Upgrade to Bitcoin Unlimited or Classic immediately.

Fix Your Unconfirmed Transaction.

Vote for the future of our Bitcoin network!

Return to “Bitcoin Discussion”

Who is online

Users browsing this forum: No registered users and 11 guests