Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1208. (Read 2510350 times)
When will beta multipool close and start working 100%?
Yes, please if anybody here can explain this it would be great for ALL PoS coins.
im still on the fence
can someone explain how this stops someone from generating lots of PoS blocks 20 days in the future from a bunch of TX's with small interval, whether through one or multiple wallets
im not well enough versed with the code to know what these variable names imply
can someone explain how this stops someone from generating lots of PoS blocks 20 days in the future from a bunch of TX's with small interval, whether through one or multiple wallets
Code:
ss << nStakeModifier;
ss << nTimeBlockFrom << nTxPrevOffset << txPrev.nTime << prevout.n << nTimeTx;
hashProofOfStake = Hash(ss.begin(), ss.end());
if(CBigNum(hashProofOfStake) > bnCoinDayWeight * bnTargetPerCoinDay)
return false;
im not well enough versed with the code to know what these variable names imply
i have discovered a flaw with current PoS implementation
you can easily do a 51% attack with PoS blocks without needing large holdings
since PoS blocks are generated on a coin age basis, you could create TXO's delayed by a time offset at the minimum TXO cost for a future attack period
so after creating 10000 TXO of 1 MINT separated by 0.5 seconds to make sure 60 consecutive blocks are generated at repeated interval by your wallet 20 days in the future, the attack would last 1 hour and 40 minutes
enough to put the security and function of a coin in question
couple that with the fact the difficulty calculation includes PoS blocks, that would mean difficulty would jump to stratospheric levels making it impossible to mine PoW blocks
you can easily do a 51% attack with PoS blocks without needing large holdings
since PoS blocks are generated on a coin age basis, you could create TXO's delayed by a time offset at the minimum TXO cost for a future attack period
so after creating 10000 TXO of 1 MINT separated by 0.5 seconds to make sure 60 consecutive blocks are generated at repeated interval by your wallet 20 days in the future, the attack would last 1 hour and 40 minutes
enough to put the security and function of a coin in question
couple that with the fact the difficulty calculation includes PoS blocks, that would mean difficulty would jump to stratospheric levels making it impossible to mine PoW blocks
are people really not concerned about this?
YOU CAN 51% ATTACK ANY POS COIN WITHOUT THE NEED FOR 51% OF SUPPLY OR ANY PoW HASHRATE AT ALL
Hi all. Just thought I'd share some of the joy we've been dealing with on the Mintcoin thread. Have a good night.
but joining the multipool will overall boost the price rather than mining individually.
sigh.. its not joining the multipool that magically boosts the price... what boost the price is the multipool buying btc and then using it to buy bc... but if they are getting less btc out of your hashrate and therefore less bc out of your hashrate, then individuals, as a collective, can produce greater overall buy support- thereby raising the price more- by mining on better paying multipools and converting all the btc to bc themselves. because the overall bc/hashrate is better the overall buy support/hashrate is better. this is assuming miners are capable of remaining true to the cause without the psychological rally of the multipool and covert all their btc to bc themselves without the convenience of the multipool.
Agreed!! +1
just got a payout for 24 hours, and I dont know what all the whining is about.
seems like you get about 80 bc/mh/day so .0048 BTC.
thats a good average to if you count that you dont have to do anything, if I try using other coins and had to switch it on mintpal, I wouldnt be able to pay for the time it took to be researching and switching coins.
but joining the multipool will overall boost the price rather than mining individually.
sigh.. its not joining the multipool that magically boosts the price... what boost the price is the multipool buying btc and then using it to buy bc... but if they are getting less btc out of your hashrate and therefore less bc out of your hashrate, then individuals, as a collective, can produce greater overall buy support- thereby raising the price more- by mining on better paying multipools and converting all the btc to bc themselves. because the overall bc/hashrate is better the overall buy support/hashrate is better. this is assuming miners are capable of remaining true to the cause without the psychological rally of the multipool and covert all their btc to bc themselves without the convenience of the multipool.
Agreed!! +1
but joining the multipool will overall boost the price rather than mining individually.
sigh.. its not joining the multipool that magically boosts the price... what boost the price is the multipool buying btc and then using it to buy bc... but if they are getting less btc out of your hashrate and therefore less bc out of your hashrate, then individuals, as a collective, can produce greater overall buy support- thereby raising the price more- by mining on better paying multipools and converting all the btc to bc themselves. because the overall bc/hashrate is better the overall buy support/hashrate is better. this is assuming miners are capable of remaining true to the cause without the psychological rally of the multipool and covert all their btc to bc themselves without the convenience of the multipool.
I see our friend the market manipulator is buying and selling his own large orders again....
agreed
but joining the multipool will overall boost the price rather than mining individually.
Prisoner's dilemma at work here...
Multipool payouts are not what most miners expected, causing many to stupidly panic sell and point their miners elsewhere, causing the multipool(s) to have less oomph, causing less BTC -> BC buying power (which by my simple calculations maybe is now only buying 7 BTC worth of BC per day using roughly 400 MH/s scrypt, 350 GH/s sha estimates).
If miners were more organized (and rational) towards having 1 dominate competitor to BTC (fuck Litecoin) and stayed put pointed towards the BC multipool(s) they all would have benefited...more miners = more oomph = more BTC -> BC buying from the multipool(s)= your accrued BC are worth more and more as prices increase and eventually miners have large enough profits to upgrade mining rigs to gain even more BC and so the multipool(s) buys more BC and the price continues to go up. It's a fucking positive feedback loop and we will all win.
Rambling-on Alert
Imagine being able to someday tell your grandkids about how you still have BlackCoins you mined/bought when it was going for 3 fucking pennies per coin in 2014, and imagine them saying in disbelief "grandpa, you're a lying sack of shit" and then you show them your BC address and absolutely blow their minds. Today's baby-boomers/grandpas had stock certificates, baseball cards, stamps, coin collections, etc. when they were young, which weren't worth much then, but fuck did those things accrue value up to today. But thanks to third-world countries now being able to make (or forge) just about any physical thing under the sun, our generation will not see any equivalent physical items becoming valuable collectibles 50+ years from now.
However cryptocurrencies, and specifically those cryptocurrencies which survive/thrive/flourish in the coming months/years/decades, are going to be the stocks, baseball cards, stamps, coin collections of this generation.
Anyhow, who knows if miners will ever rationalize-the-fuck-up and come back to BC's multipool(s), but them coming back or not is all that matters right now for BC to survive/thrive/flourish with BTC over the coming months/years/decades.
JL
Multipool payouts are not what most miners expected, causing many to stupidly panic sell and point their miners elsewhere, causing the multipool(s) to have less oomph, causing less BTC -> BC buying power (which by my simple calculations maybe is now only buying 7 BTC worth of BC per day using roughly 400 MH/s scrypt, 350 GH/s sha estimates).
If miners were more organized (and rational) towards having 1 dominate competitor to BTC (fuck Litecoin) and stayed put pointed towards the BC multipool(s) they all would have benefited...more miners = more oomph = more BTC -> BC buying from the multipool(s)= your accrued BC are worth more and more as prices increase and eventually miners have large enough profits to upgrade mining rigs to gain even more BC and so the multipool(s) buys more BC and the price continues to go up. It's a fucking positive feedback loop and we will all win.
Rambling-on Alert
Imagine being able to someday tell your grandkids about how you still have BlackCoins you mined/bought when it was going for 3 fucking pennies per coin in 2014, and imagine them saying in disbelief "grandpa, you're a lying sack of shit" and then you show them your BC address and absolutely blow their minds. Today's baby-boomers/grandpas had stock certificates, baseball cards, stamps, coin collections, etc. when they were young, which weren't worth much then, but fuck did those things accrue value up to today. But thanks to third-world countries now being able to make (or forge) just about any physical thing under the sun, our generation will not see any equivalent physical items becoming valuable collectibles 50+ years from now.
However cryptocurrencies, and specifically those cryptocurrencies which survive/thrive/flourish in the coming months/years/decades, are going to be the stocks, baseball cards, stamps, coin collections of this generation.
Anyhow, who knows if miners will ever rationalize-the-fuck-up and come back to BC's multipool(s), but them coming back or not is all that matters right now for BC to survive/thrive/flourish with BTC over the coming months/years/decades.
JL
Well, except the actual economic principles of the multipool are kinda flawed atm.. That is, until they are as profitable in terms of (btc => bc)/hashrate. If miners can go to another multipool where they will get more btc for their hashrate and therefore can buy more bc per their hashrate, then they are actually providing more buy support (assuming they spend all of the mined btc on bc). the only advantage of the multipool is psychological- which can have a profound and hard to estimate/predict effect, though!
If this is true http://www.yevych.com/poolStats.html the blackcoinpool really is not that bad profit wise
I see our friend the market manipulator is buying and selling his own large orders again....
Well, I just boosted the price of blacoin a bit. I hope this costy action will help.
This is not necessary, or to see the market trend,
After all the power of the individual in the market not to play any role!
the future for this coin is very bright 
Yes
This coin is very promising,
The future for this coin is very bright,
We should grasp the opportunity to invest in this coin!
As soon as blitzcoin is done im jumping back in the pool.
think a lot of us are in the same boat
As soon as blitzcoin is done im jumping back in the pool.
If the price goes down a little more I'm gonna buy a few thousand. Bitcoin is taking a hit today so everything is taking a hit... but it'll all swing back up soon. Now's the best time to buy.
Yes, now is when prices very low, prices will rise back for sure!
Now's the best time to buy
The best time to investment!
http://blackcoinpool.com/ 419.43 MH/s Miners: 201 Shares: Profitability: 1706.58. Come join the fun and help the market grow
Oi. Should I lock my wallet until there is a fix? That would be the safest move? I'm pretty paranoid about theft.
If you manually unlock for staking in the debug console, it will still require password for send.
Help -> Debug window -> Console
Then type in "walletpassphrase password 9999999 true" and hit enter, then hit the red minus in the lower right to clear the console text.
of someone can add an X11 algorithm option to their multipool i will point 14 mh at it!!!
X11 ftw!
the future for this coin is very bright
Yes,
This coin is very promising,
I am very optimistic about this coin!
Oi. Should I lock my wallet until there is a fix? That would be the safest move? I'm pretty paranoid about theft.
If you manually unlock for staking in the debug console, it will still require password for send.
Help -> Debug window -> Console
Then type in "walletpassphrase password 9999999 true" and hit enter, then hit the red minus in the lower right to clear the console text.
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