Topic: [ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink - page 184. (Read 297725 times)

Doesn't matter one bit if you're already filthy rich. For the rest of us it matters a lot. It's not only miners that get hurt when this happens. Exchanges and investors also get raped when these coins fork. I guess some can't understand this until they personally lose $$$.

Honestly, how much does it really matter with a new alt coin?

Why does the everyone and especially the DEV ignore the elephant in the room?  FusionHash has almost never been under 50% of the total hash. Usually they are in the 80+ range and often well above 90% of the total hash.

I think it's time for the DEV to disclose any relationship with fusionhash. I for one was surprised to see him/her making announcements on behalf of fusionhash throughout this thread. Is the dev also running fusionhash? What is the relationship if this is not the case? Part of the 8 unknown people behind this coin? If anyone doubts me, quickly check through this thread before the dev's posts are deleted or edited and you can see for yourself where he has been reporting on their behalf.

Like I said before, an ethical pool would have limited registrations long ago to prevent destabilizing the block chain. It makes no sense to try to get on bigger and better exchanges if the coin is going to fork out and cause lots of people to lose coins and exchanges to lose confidence. Miners don't have much choice as I see it, since we all know that when there is a fork that the dev will choose the fusionhash fork above all others. Meanwhile anyone else that ends up on another branch loses all their coins/$$$$.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

I will give your exchange a try, seems to run smooth and fast.

Oh yes, pretty smooth indeed. I'm hoping things stay stable after the 8 day rewards go down and there's no big dump-off or scandals! I've got a lot of time and energy invested into this coin and the pool, so I'm really crossing my fingers hoping it pays off!

hello all,

I would like to announce the release of OctoCoin on CryptoALTeX, LLC, www.cryptoaltex.com   Many of you may have already used our services for other coins, we opened three weeks ago with BlackCoin and received over 130BTC volume within the first 48 hours along with 1200 user registrations.  We have made even more system improvements since then and hope you place on your list of trusted exchanges.

We are registered as an LLC in the state of Colorado, USA and as we begin to raise capital will be moving towards requiring the necessary government paperwork to become registered money services business which at this time, according to lawyers is not required for virtual/virtual pairing but could be required any day here in the USA.

We will continue to add trading pairs and hope to have a nice update released today that will bring a chatbox to our site.  There is also a much more detailed "About" page that details are security posture among other things.

If you have any questions please feel to contact me via irc.freenode.net #cryptoaltex or submit a ticet @ https://cryptoaltex.freshdesk.com


Happy Trading!!

Chiznitz

Don't forget to vote on Mintpal and CryptoRush!

Interesting you should bring this up. First of all, you just linked to the FusionHash Pool address - the majority of hash power has been pointed at their pool and about 2/3 of all blocks have been found at that particular pool. Shortly before launch, we decided not to premine the first block and instead pointed our miners at all 4 launch pools - the same pools everybody else had access to. The launch pools were all given the source code before launch and instructed to fire up the stratum servers at 18:08:00 UTC; everybody was free to mine at 18:08:00 UTC. If you didn't notice, the first block wasn't found until 2014-03-08 18:08:39, which is 39 seconds after launch. Many people other than the dev team received shares of the "premine" although we did have more hash power than most (and were among the first shares submitted) so we received the majority of it. We have mined across 4 different pools from launch and have never solo-mined OctoCoin.

To summarize, there technically wasn't even a premine on OctoCoin - there was a brief instamine...but the instamine was by everybody that was there for launch - we had no advantages over any other early miners. Also, there were hundreds of people mining OctoCoin seconds after launch and, at block 1000 an hour in, the difficulty was at 2.5 and there were thousands of people mining OctoCoin - this is a higher difficulty than a lot of coins that have been out for months. It increased rapidly from there crossing over a difficulty of 15 by block 1200. I would disagree that could be considered an instamine.

Amateur detectives always come out of the woodwork when a new coin is launched but, unfortunately, most do not understand how to decipher a blockchain. With all of the scams out there, it's easy to understand why people approach everything with suspicion. There is no conspiracy here and an easy way to clear up any confusion is to look at the timestamps.

Yeah seems like most of the pools had some hiccups but man overall it's been great since, mining wise.