Topic: [ANN] Iridium (IRD) - People are Power - Community build crypto - page 81. (Read 149826 times)

What's your 750Ti hashrate?

Nice project with good community
I will keep my eyes on this coin

  I pay $3,5 for 1000 IRD 

unofficial market is open 

I sell 107IRD for 4500 DOGES

I can pay you $3.00 per 1000 IRD. You'll make 1000% profit.

It's rather your offer which is the joke here. Nobody can mine 1k coins for $1 unless you steal the electricity (not to mention all the GPUs needed). And even if electricity was free, why would I give them away to you for nothing if it cost me nothing to mine them? I'd hodl with a serious likelihood of future profit many orders of magnitude larger than what you are offering, at zero financial risk for me.

The cost of production even at the lowest kWh rates available currently anywhere in the world (and that includes Xinjiang) is still higher than your $0.3 per 1000 coins. And nobody would sell anything at just the cost of production anyway. In crypto as a miner you add at least x3 and mostly x5 or x10 if you sell right away. Of course selling right away is still stupid and hodling is much more profitable, pretty much always.

Anyone who desperately needs 30 cents can go in the park, collect a couple of PET bottles and return them to the shop to get the refund. Much faster and effective than buying expensive GPUs to mine 1k coins and make 30 cents (before costs).

So, what's the purpose of having your token?

1000 IRD = 0.3$ or 1000 x 0.3 = 300 $

Join Slack and Discord.
Community is active. COin is alive.

Is the community in this coin active?

Guys, what do you think about the ICO? how promissing the project is?

Hello!

Was the project abandoned? Novelty?

I have mined some 100 coins and stopped because of lack of activity of the dev would like to know if it gave up the project.

Best Regards!

so you mean, pools should close nicehash port until the problem is solved?

The network difficulty has slowly ramped up to 20M now, despite the attack being over since more than 8 hours and the global hashrate back down to 50kH/s ever since. This is two times the 10M it had when the attack started. Blocks come in very slow therefore. The last 20 blocks took over 3 hours to mine (almost 3.5 hours), which means the miners are now earning less than one third of the coins they should earn for a couple of days to come until the difficulty will be back down to 10M. They are paying for the nicehash freeloader. If they are unlucky the freeloader will return just when the difficulty is again back to nominal. Rinse repeat.

The pools are certainly not earning more fees due to such incidents. Because the long period of slow blocks and less fees (per hour) now will make up for the short period of more fees (per hour) during the attack. I am therefore puzzled why they would actively invite nicehash attacks by providing a dedicated port just for this centralized service.

This is a very valid and important point. It has been happening with all CPU friendly coins, botnets like nicehash screwing up the diff. I don't believe the original dev cared enough to actually consider this, but we do! We will get on this upgrade immediately and begin the transformations. It may not be done quickly, but we will get it done. Thank you for pointing this out.

I think you should go to Discord (https://discord.gg/6y2p6Qj) and talk to devs directly.

not yet, it's too early. The project started on september, we need a solid base.

The network suffered an instamining attack for the past two hours (10:50-12:40 GMT) done over the mine77 pool. I think I saw something like 350kH/s at work. 50kH/s of which are the genuine permanent miners in that pool, so the attacker used appr. 300kH/s. During these hours we saw blocks 30208 to 30406 which was 198 blocks in 110min or 1.8 blocks/min or an average block time of 33 seconds. The normal rate would have been 36 blocks during that time, therefore 162 blocks (nearly 14,000 IRD) were mined in excess due to the not fast enough difficulty re-target on this blockchain.

I suggest the dev team starts to implement a more up to date diffculty re-target function. In the past Sumokoin (SUMO) and Masari (MSR) suffered the same fate of getting raped by nicehash idiots, i.e. centralized hashrate for hire. Masari then adopted the retargeting from SUMO which stopped these attacks. I consider these attacks equivalent to someone going into a restaurant, eating and then running away while telling the waitress that the invoice will be paid by the next customer.

This is exactly what will happen now since the difficulty is slowly (and delayed) adjusting upwards long after the attack has stopped, which means the genuine 24/7 miners which actually secure the network will mine against a high difficulty (which comes too late), will waste lots of electricity and get very few blocks, i.e. coins. They basically subsidize the coins stolen by the nicehash idiot. Yes, I consider it theft because the nicehash attacker is not willing to mine at the difficulty his hashrate generates. That's why he ran away after a short time and doesn't mine 24/7, knowing exactly that the invoice (difficulty) is presented only after the fact and he can leave it to the other miners.

The difficulty re-target will always be a trailing indicator because it works based on the block times found previously. But it must be such that it can react very quickly on such hashrate attacks and drive difficulty up immediately when the blocks start flying. Once it stops, it must equally quickly adjust difficulty down of course. Other coins have solved this very well and this coin should upgrade as well on a coming HF. After all the block time is the heartbeat of the network and it must be predictable and constant. It is additionally controlling the issuance of the coins (inflation) and this must be fully under control and resilient to such nicehash attacks. Hence why I always recommend that pools do not accept nicehash workers. Nicehash is the exact opposite of a decentralized ledger and currency mined by decentralized miners. It's a centralized service which should be blocked wherever possible.

for those how doesn't know how docker works; it's quiet simple :
first, you have to install docker for your platform, it's available on all platforms (really all platforms) : https://www.docker.com
there is a gui available for Mac and wnidows too : https://kitematic.com but I don't use it.

then, here is the full options commande line. you have to replace the values with yours.


all the variable have default values, so you can omit them but you have to expose the external p2p port (default is 12007) and it you don't want to download the entire blockchain everytime you relaunch you have to "mount" a directory inside the container, this is the -v option at start run. Everything is written here :https://hub.docker.com/r/steevebrush/iridiumd-container

So a basically a quick start with data saved into a directory named ird_data and default outside port 12007 exposed will look like this

to run as daemon (I named the container, so it's easier to talk to it):