[FoRK] bitcoins vs. alchemy

Gregory Alan Bolcer greg at bolcer.org
Thu Dec 6 07:28:13 PST 2012


Abitrary referred to the miners and not the policy, of which I am 
familiar.

In fact, based on your article that included the economic breakdown, I'd 
say that the distribution graph of people able to mine is all over the 
map based on individual miner's capabilities.

Explain to me how making mining harder favors those with lesser 
computing and cripples those with greater advantage.

The point is that it doesn't.  It just helps prevent previously mined 
BTC from being devalued.  Mining still favors those with better 
computing technology, or even less power consuming if BTC profit is your 
requirement.

So I keep talking about two different players competing for BTC doing 
computational mining at the same time and you keep talking about current 
miners being restricted from devaluing previous miner's work.

They are two completely different things.

Greg

On 12/6/2012 12:02 AM, Eugen Leitl wrote:
> On Wed, Dec 05, 2012 at 05:26:42PM -0800, Gregory Alan Bolcer wrote:
>
>> Don't bother reading, there's too much, I'll sum up.
>> They've arbitrarily decided that people with FPGAs and GPGPUs are
>> cheating, so they are devaluing the ability to mine value.
>
> Arbitrarily, huh.
>
> Whoever Satoshi Nakamoto is, or are, they're not stupid.
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-- 
greg at bolcer.org, http://bolcer.org, c: +1.714.928.5476


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