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Question of the Day: Have you ever ordered a product online and received a fake knock-off?
Bitcoin mining fees to surge
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Sounds like they just want a bigger piece of the pie.
With China shutting down mining, the proffits from bitcoin mining should go up, but what impact this would have on them increasing maintanance costs on systems that are exactly the same as a couple of weeks ago is dubious.
Possibly a good time for someone that is interested to build a mining rig to get into the game.
With China shutting down mining, the proffits from bitcoin mining should go up, but what impact this would have on them increasing maintanance costs on systems that are exactly the same as a couple of weeks ago is dubious.
Possibly a good time for someone that is interested to build a mining rig to get into the game.
Bitcoin is only the first app. The ecosystem is evolving. Intermediaries are the problem in any trust network, not just blockchain.
*SynergyX*
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title is misleading .... this has got nothing to do with the actual coin and everything to do with a company selling mining contracts to the public.
Kloofvreter
Honorary Master
Explain this to saturnz :crylaugh:
evolving, like in any direction or in a direction towards the removal of third parties and complete decentralisation?
to me a mine is a third party, and at present there are huge mines which does not suggest decentralisation
Kloofvreter
Honorary Master
You and I can also mine. That is decentralized.
Kloofvreter
Honorary Master
Jirre. You laughing, of all people :crylaugh:
In your entrepreneurial tycoon mind, what is a decentralized crypto currency?
in my what mind? again with your assumptions
Kloofvreter
Honorary Master
Ah, sorry. Weak b8 m8
Yeah but saturnz in the same breath you can personally go and pan for gold in the river. The protocol by nature is decentralized, just like trading gold coins. When you introduce mining corporations and banks into the system you add elements of centralization. The same is true for cryptocurrencies.
Kloofvreter
Honorary Master
In BTC's case, it's not a single element. This is just one company selling contracts to public, I'm assuming similiar to HashFlare?
Yeah, that's why the title is misleading, like SynergyX said
which is my point
It is your choice if you want to use them though. I can still complete a completely decentralized transaction, peer-to-peer, without any intermediary. Being in it's infancy, completely independent use is still reserved for the technically capable. This is very similar to the birth of the internet. In the late eighties it was almost unfathomable that someone would send electronic letters instead of using the post office. Now your fridge can talk to you.
Kloofvreter
Honorary Master
You can still mine with your GPU or AntMiner, or you can purchase a mining contract.
Absolutely. What I'm getting at though is that it is not a user friendly, UX/UI optimized website with a 1 click solution. This is why intermediaries like HashFlare/NiceHash/Genesis/etc. exist. The problem is that the larger they become in relation to the market, the less secure the technology becomes for their users.
Kloofvreter
Honorary Master
Yep, but still decentralized, and someone should point that out to that tit saturnz.