101–110 of 152 posts
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I don't think the fundamentals are sound here. Advertising spurs commerce, which creates value. This wastes electricity, slows down users' computers, and does no valuable computation. It seems closer to stealing from your users (with enormous inefficiency) than something that creates any real value.
By your logic gold mining is overrated, too.
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And I should add that the prospects of finding any meaningful amount of shares, while much better than finding a block, are still quite low. My GPU can find a couple of shares per minute in a good minute, but it operates at 55.5Mhash, over 10x faster than my CPU (i7-2600K). Consider that most are going to have really slow CPUs and share the processor power with other heavy applications (Flash games), and you might ge…
That was my first though - it's a nice idea, but came at least one year too late. Just yesterday, I ran miner through the www.bitcoinplus.com website, and on my regular PC machine it generated 0.002 BTC in 24 hours. I am afraid the bitcoin mining is practically over, and the much more interesting question is - should I really invest my real money to buy some bitcoins? (current rate is about 7 USD). I am curious to le…
The alternative, of course, is that bitcoin takes off, is not banned by governments, and is useful enough to enough people. If that occurs then I expect pretty high returns.
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How is bitcoin like the gold standard? Bitcoin is backed by what? It's more like a purely speculative currency. It's artificially scarce and worth nothing apart from it's perceived value. At least with gold there are many industrial uses for it. You can't do anything with a bitcoin other than trade it.
It's artificially scarce and worth nothing apart from it's perceived value. Are there any official currencies that this doesn't apply to?
It is bad to use a bunch of the user's CPU without any notice. They will probably notice that your site makes their computer slow and never come back again. Also, once they find out you've been using their CPU power/electricity/battery life surreptitiously for private, unshared gain, you will probably have some angry customers. Additionally, does this automatically hook in to slush's pool or something? Bitcoin mining…
Interestingly, from post #9: Chrome13-canary: ~15.2k/s FF4: ~6.4k/s Safari5: ~6.2k/s IE9: ~1.6k/s So yeah, massively massively slower than regular GPU mining. Anyone know of a way to push WebGL into doing hashing functions, and reading the results out?
And you come to a total of 21,600,000 unique visitors per day that you would need to your website in order to hash the equivalent of a $100 GPU.
Or make about $8 per day according to the bitcoin calculator right now from 21 million unique visitors.... totally not worth it.
So, yeah. Significantly crapping on the user experience of 21M people by reducing their battery life, adding heat, adding fan noise, slowing down other actions - all to substitute for one gpu?
It seems like there must be better ways to ruin your high traffic websites reputation if that's what you're looking to do.
If there is a Bitcoin bubble you can be sure that there will be people doing things like this, regardless of whether it's ethical or not. From the site visitor's point of view they're not getting a cut of the mined coins, so their high CPU usage is purely a waste and annoyance. If widely deployed, this sort of browser based CPU wasting enterprise could bring Bitcoin into disrepute and be an excuse for governments to…
It is probably fair to say most people don't care all that much provided their user experience is not noticeably impacted, but it looks like this work is failing to deliver in that respect. If they manage to throttle CPU usage effectively then this is at least a semi-feasible alternative to "monetizing" traffic.. I find that quite interesting conceptually, even if it doesn't work in practice at the moment.
Very interested to see if this could actually be an alternative to ad revenue.
Using http://www.alloscomp.com/bitcoin/calculator.php : On my computer (netbook running Chrome in Ubuntu), bitp.it clocks at 2.2khash/sec. Using this, I'll give 2000hash/sec/user as a conservative estimate. If you had 1M daily visits, averaging about 1 minute of interaction (high, but assuming you have long-form content), you'd have 12000Mhash/day, or about 2.77Mhash/sec. Plugging this in with current rates, this end…
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If you control a massively multiplayer game you probably get more money from the player subscriptions.
If you could turn out a bitcoin per day per player, that's massively more than the subscriptions at today's rates. Of course, there's no guarantee that you could do this, and there's no guarantee that today's exchange rates have anything more than blind optimism keeping them afloat, but the idea's not inherently stupid. In fact, it might be an interesting way for EVE (for instance) to link ISK to real-world value. Th…
Can't be done.
According to this BitCoin calculator[1] you need to generate 245 Mhashes/sec (mega-hashes per second) to generate 1 bitcoin per day today. (Remeber that number will go up as time goes on)
I assume that calculator is for 24/7 calculation (which you won't get with gamers), let's assume they are hardcore and play 6 hours per day, every day. You can't dedicate 100% of your customer's GPU power to bitcoin mining (since they'll need to actually play yoru game), let's say you dedicate 20% of their GPU.
To get 1 bitcoin per day you need hardware that's able to do 245 × 4 × 5 = 4,900 Mhashes/sec.
This thread[2] from the bitcoin forum today has some idea of what current hardware can do. They say "5870's are $250 apiece at the moment and each only get around 350 Mh/s", so in order to get 4,900 Mh/s, you'll need about 14 of them.
i.e. If the players of your MMO have 14 graphics cards (costing ~US$250 each) in their machine, then you can probably generate 1 bitcoin per day per hardcore player. i.e. It's not possible, forget about it.
[1] http://www.alloscomp.com/bitcoin/calculator.php [2] http://forum.bitcoin.org/index.php?topic=9052.0
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Using http://www.alloscomp.com/bitcoin/calculator.php : On my computer (netbook running Chrome in Ubuntu), bitp.it clocks at 2.2khash/sec. Using this, I'll give 2000hash/sec/user as a conservative estimate. If you had 1M daily visits, averaging about 1 minute of interaction (high, but assuming you have long-form content), you'd have 12000Mhash/day, or about 2.77Mhash/sec. Plugging this in with current rates, this end…
Perhaps this means that bitcoin is currently undervalued by three orders of magnitude.
If there is a Bitcoin bubble you can be sure that there will be people doing things like this, regardless of whether it's ethical or not. From the site visitor's point of view they're not getting a cut of the mined coins, so their high CPU usage is purely a waste and annoyance. If widely deployed, this sort of browser based CPU wasting enterprise could bring Bitcoin into disrepute and be an excuse for governments to…
banner ads are also, on the whole, a waste and annoyance; so not much of a change there It is probably fair to say most people don't care all that much provided their user experience is not noticeably impacted, but it looks like this work is failing to deliver in that respect. If they manage to throttle CPU usage effectively then this is at least a semi-feasible alternative to "monetizing" traffic.. I find that quite…
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There's quite a bit of misunderstanding in that post, especially with respect to systemic weaknesses. And a lot of unsubstantiated claims and terrifying graphs (like that tweet graph as something desirable for currency inflation - what it also implies is your savings going up in smoke). I'd love to find an in-depth debate on Bitcoin from an economic standpoint, but this is not it. It's just more of the same half-unde…
The tweet graph is meant to correlate with desirable growth in money supply, something Bitcoin needs to be liquid. You can have growth in money supply without inflation.