Topic: [ANN] INFINITECOIN - UPDATE TO 1.8.8 visit INFINITECOIN.COM - page 128. (Read 155187 times)

Yes, if I was running an exchange I'd be very careful about this sort of thing. Regular audits of deposits to check they have not disappeared from the blockchain, checks that the exchange wallet balance covers the sum of internal customer balances, etc. Any unusual activity trips a circuit breaker, shutting down the wallet and market for that coin until a human can investigate.

An exchange should assume the coin will be attacked at some point, rather than simply hoping there will always be sufficient mining capacity to prevent this. A coin which is popular in 2015, with many miners and a large combined hash rate securing the network, may be a shadow of its former self by 2018. Example: IFC!

Hopefully they have implemented additional security measures since the attacks.

No.11 Overview Weekly  02/26/18
Normal state of the week actually send 563 purse addresses
Each node is rewarded with 1000 IFC
Self-help registration system https://ifc.1e9.cc/ifc/peers/list.php

IFC infinity (China) Foundation
Endowment address of the foundation (pay attention to only IFC unlimited money donation)
I7AiysGcT5ZAYVY3Q8inBFVmkPe4Yn3FMy
The account manager: Haoyear
Block browser https://ifc.1e9.cc/ifc/
Anyone can query the use of the foundation account by a block browser

Obviously 51% Attacker attackered both Cryptopia and Jubi(coinegg) and stole their ifc coins, but the exchange is partially at fault becauce they should have better protections and have a dedicated mining rig to secure the network when they have a large wallet, it's sad Cryptopia choose just to walk away and coinegg won't allow any withdraws:)

No.10 Overview Weekly  02/18/18
Normal state of the week actually send 562 purse addresses
Each node is rewarded with 1000 IFC
Self-help registration system https://ifc.1e9.cc/ifc/peers/list.php

I'm sorry I'm late for the information.

IFC infinity (China) Foundation
Endowment address of the foundation (pay attention to only IFC unlimited money donation)
I7AiysGcT5ZAYVY3Q8inBFVmkPe4Yn3FMy
The account manager: Haoyear
Block browser https://ifc.1e9.cc/ifc/
Anyone can query the use of the foundation account by a block browser

The emphasis on network security is definitely vital.  But in regards Mining Rewards, let's not forget the substantial fact that IFC was to be a transaction-fee supported coin, zero inflation.  Like eventually Bitcoin and others, except IFC is encountering all the challenges first.

A key problem is, a minimum transaction fee was not enforced in the software, and the miners don't currently have enough political/economic power to force it.
Consequently, many exchanges and users are chintzing on the fee, like setting it to 1 ifc.

Meanwhile, some exchanges are charging huge fees for withdrawals, like 1%,  with this money going straight into their own pockets, never making it back to the miners.  Then they want to turn around and complain the network isn't secure enough, not their fault, etc.

If a good chunk of those 1% fees was going to mining rewards, that would substantially improve the mining incentive! 


So, in addition to tech upgrades to the coin, or rebasing to newer code  (which should also be explored if community has the resources),  a couple other approaches that can be applied immediately with no risk are:

1) Education, pressure, beseech exchanges (and users) to set their mining transaction payout fees higher.

2) A software upgrade to more strongly suggest (and/or enforce) a higher transaction fee.  This could be done without affecting the protocol.    (It would still be possible for a determined user to set low fees by re-compiling with their own source code edits, but hardly anyone would do that.)


As part of these efforts, it would be useful to analyze/graph the transaction quantities and fees, and publish reports about totals per day, by payer, etc.   Especially, if one could tie transactions back to specific exchanges, and chart/document their fee payouts, that could be a strong factor to help shame/motivate them into paying a reasonable mining reward.

We could also use donation/faucet funds to reward good exchanges and high-volume user wallets.  Like with a "Rebate" to wallets that are paying out highest % fees, per week.   

The general idea is:  Rather than just use community funds to directly pay miners (which is essentially subsidizing the exchanges),  use those funds to incentivize  users/exchanges to produce more transactions and better fee payouts -- which in turn supports the miners, and network security.

IFC中国社区网址
www.infinitecoin.in
手机钱包安装与配置https://ifc.1e9.cc/archives/19.html。。。。。。。。手机钱包备份与还原https://ifc.1e9.cc/archives/92.html。。。。。。。。手机钱包节点IPhttps://ifc.1e9.cc/ifc/peers/list.php

Thanks for the link man, well this is terrible news, about Cryptopia... I'll pass this info along, also planning to discontinue my own use with Cryptopia

For those if you with an IFC balance at Cryptopia that you cannot withdraw, here's a message posted by the CasinoCoin Foundation (another coin that suffered a 51% attack at Cryptopia)

https://www.reddit.com/r/casinocoin/comments/7yvvp1/casinocoin_foundation_final_statement_on_cryptopia/

" 2018 unlimited currency will erupt, we have been convinced! Wait and see! "

BRO we need to secure the coin we need to have everything working smoothly. so you are saying after the coin gets value then we will work on securing it smh?

Network security is a big issue. Current network hashrate is 1.2MH/s. This coin can be attacked very easily now. A couple of Gridseed Orbs could 51% it.

The first thing that needs to be fixed is mining rewards, so there's an incentive to mine.

Until then there's little point marketing to build a community of end users.

2018无限币会爆发，我们一直坚信！拭目以待吧！

I don't think a network security is a issue, no one can prove 51% attack occuered, what we need is marketing like litecoin so many people will use it as a cheap payments

5% is a lot, don't know if anyone has that much right now

anyone who hold 5% or more ifc should run a asic miner for ifc.

I think we have to, I would suggest a smart guy making a new coin where we can swap the old coins to. New better algorithm, maybe with privacy built in. Would be really cool

perhaps we can try to create a basis for the revival of infikoin

Hi, I will be shutting down the auto-faucet within 7 days as there have been no donations for weeks.

It can be restarted at any time if there's interest in the future, but for now I am not going to dedicate resources to a dead project.

No.9 Overview Weekly  02/12/18
Normal state of the week actually send 556 purse addresses
Each node is rewarded with 1000 IFC
Self-help registration system https://ifc.1e9.cc/ifc/peers/list.php


IFC infinity (China) Foundation
Endowment address of the foundation (pay attention to only IFC unlimited money donation)
I7AiysGcT5ZAYVY3Q8inBFVmkPe4Yn3FMy
The account manager: Haoyear
Block browser https://ifc.1e9.cc/ifc/
Anyone can query the use of the foundation account by a block browser

This is quite the bullshit. It's the first time I've ever had an exchange "lose" my coins for whatever reason

my wallet does not sync anymore any ides?