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InvisibleThe Phleg
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Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** [Re: Ythan]
    #19329091 - 12/26/13 02:17 PM (10 years, 3 months ago)

Quote:

Ythan said:
so far we've earned about $3 total



Damn. :what:


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Invisiblefastfred
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Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** [Re: Ythan]
    #19335399 - 12/28/13 02:42 AM (10 years, 3 months ago)

Quote:

Ythan said:
FF you seem to know your stuff. Do you really think any scrypt-based currencies have a future? It's an attractive algorithm for our purposes since anyone can contribute with their home PC. But that same factor makes it extremely vulnerable to manipulation by people with huge botnets at their disposal. There are already criminals out there with tens of millions of desktop PCs they control. I feel like bitcoin is secure particularly because you would need tremendously large amounts of specialized hardware to succeed with a >50% attack. Litecoin, maybe not so much.




I've been following the whole thing pretty closely.  Back when bitcoins were around $5 I started paying attention.  I figured I would help out my university by donating their cycles into my account, but it ended up that most of their GPUs were just a model or so too crappy.  Eventually, I found that with a beta SDK I could turn on the onboard Intel GPU and get things going, but I kind of missed the boat as BTC has become pretty hard to mine with standard gear anymore.

I think that BTC will always be the most secure, but fundamental flaws (small total coin limit and block solving time) leave room for a "silver standard" type currency.  LTC seems to fill this gap perfectly, and has gotten off to a pretty good start.

I do think LTC will succeed.  In the near term I think people with bot nets will be focused on *mining* LTC and other lesser currencies.  Hopefully they'll figure there's more benefit to stealing cycles than undermining the currency network they're trying to profit from.  They also need to obtain a good chunk of coin before it will pay to try and double spend them.

I think it will still be difficult to compromise the network.  They still have to get 51% of the network hash rate, and I think there's some significant hurdles there.  Unless you have the largest bot network participating in the network you really can't do anything.  Even then you need to be larger than the #2 net + every other pool and net in the network.

Even if they did manage to accomplish all of that they'd just be able to spend their coins multiple times.  That would be quickly discovered and shut down.  So they'd need a quick way to convert their coin into another currency or goods.  Their accounts would end up getting taken away, and there would almost certainly be a paper trail to them at some point.  Even if it is digital currency, it would still be fraud and theft, and might possibly even come under counterfeiting laws.  Whatever the legal case, they'd still be facing a decade or better in prison.

I'm not sure they'd take that risk.  They can mine coin by stealing cycles with almost zero risk, but to defraud the network they'd be facing a good bit of risk and a lot of prison time.

Normal transactions can usually be pretty easily reversed by banks, or recovered by police.  If they try to obtain merchandise they face pretty much the same problem, plus they'd have all the retailers and their associated law enforcement organizations after them.

Really only time will tell how secure these networks will be.  But the more people involved in mining, the stronger the network security.  The idea has always been that to reach security you need to grow the network hash rate to the point where it becomes impractical to take over half of it.  I do think that will happen with LTC in the near future.

That's why I think it would be great for us to throw our power into the LTC network.  LTC is clearly the #2 crypto currency, and I don't think there is room in the market for a #3 or #4+.  Unless a major, unfixable flaw is uncovered LTC will become stable and secure, and the rest will dissappear.

I also think it would be wise to hold LTC and BTC rather than convert it to cash.  I predict they'll keep going up, and could have a MAJOR spike at some point.  We've already seen that with BTC.

Countries all over the world have been trying to ditch the USD as the world reserve currency for a long time now, and the last decade of the US economy makes that even more likely to happen.  Crypto currency seems like the perfect currency to use as a world reserve currency.  IMHO all that remains is for the security and stability to be vetted.

It's the only currency not tied to a nation or economic bock, it's not tied to any physical economy, and no nation has any real control of it.  That makes it a perfect reserve currency, and probably the only one that everybody could ever agree on.

When that happens BTC (or even LTC) will easily hit $10k to $100k.  Likely BTC will become unusable for average people due to the price and LTC will be the currency for the common man, which will shoot it's price through the roof also.


Quote:

so far we've earned about $3 total. But I still think it was worth a try and I'm grateful to everyone who's helping to test! :cheers:




I think $3 is plenty good for 7 days worth of beta testing!  Tune up the procedure a bit, find the best mining pool to be part of, and get about 100x the people involved.  I think that's an achievable goal, and then you'd be in the $300-$500 a week range.  Not sure what the shroomery costs are running at these days, but $1,200-$2,000 a month is nothing to sneeze at!


-FF

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OfflinePussyFart
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Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** [Re: fastfred] * 1
    #19335568 - 12/28/13 04:38 AM (10 years, 3 months ago)

Uninstalled......made too many games and programs lagg.....gave me great FPS as soon as I uninstalled.

Sorry...I tried.

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Invisiblebotha
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Registered: 09/04/07
Posts: 461
Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** [Re: PussyFart]
    #19340646 - 12/29/13 08:21 AM (10 years, 2 months ago)

I am using linux?!!

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Invisiblepoke smot!
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Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** *DELETED* [Re: botha]
    #19341461 - 12/29/13 01:05 PM (10 years, 2 months ago)

Post deleted by poke smot!

Reason for deletion: x


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InvisibleLucyLove
Registered: 05/15/11
Posts: 6,991
Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** [Re: poke smot!]
    #19341485 - 12/29/13 01:11 PM (10 years, 2 months ago)

Quote:

poke smot! said:
I started keeping my desktop off when not using it. It pulls 100 watts so if I leave it on 24/7, that's about $10/month.

For the amount of number crunching it could do, it seems the bitcoins mined would be less than the power consumed.



That is because it is CPU mining. The most inefficient and destructive way possible.


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OfflineGodfather1376
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Registered: 07/07/13
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Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** [Re: LucyLove]
    #19731197 - 03/22/14 03:51 AM (10 years, 9 days ago)

So Ythan how is this project going, if it is still? I still have shroomery miner chuggin along.

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InvisibleSOLID BASTARD
Hella Vampires

Registered: 08/04/08
Posts: 5,087
Loc: 127.0.0.1
Re: Donate your spare CPU cycles to the Shroomery! **Please help beta test!** [Re: Godfather1376]
    #19734897 - 03/23/14 12:30 AM (10 years, 9 days ago)

Does this rely on any of MS's .net framework packages? If not, I should plausibly be able to run it under Wine, correct? If so, it may get a few more Shroomery members on board for the project.

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