Topic: [ANN] LuckyCoin LKY | Lucky Blocks | Fast | Fun | Fair - page 24. (Read 112487 times)
seems like a lot of people are jumping ship, whats the point of mining a new coin for 30 hours and quitting?
Etlase2 I see what you are saying, but it just wouldn't work. When you're mining for a normal pool, you're trying to mint a block with the pool operators wallet address, so all blocks any miner in that pool produces will have coins sent to that address. If you really feel that you're being cheated, again you can use the block chain explorer to search all published blocks with coins being sent to the pool operator's wallet. The pool operator can't just change the wallet address last second then publish it, as that would change the block hash. Secondly, this could happen with ANY coin. In fact, one would think a LTC or BTC pool operator would be more inclined to do so as a published block is worth $150 and $3250 respectively.
Are you brain damaged?
No, but my understanding of pool mechanics is probably higher than yours.
Quote
1. Pool mines a block.
And if that block is lucky, operator does not award anything and continues on as if the pool has not mined a block. The incentive to do this with a lucky block is incredibly high because the odds of being found out when only doing this on a rare occasion are low. Unless pool systems have advanced to where each miner now has a piece of proof in the block, like p2pool. If they have not and still operate under the same conditions as pools have in the past, then a pool operator can get away with a huge payout with his worker bees none the wiser. But I don't keep up with pool technology because I couldn't care less about it, so it is possible that pools operate differently nowadays. So I raised the question as to whether or not this vulnerability with pools has been fixed, because luckycoin makes it very ripe for the exploitation if not.
look at this p2pool
http://p2p.sytes.net:19335/static/
it publishes what is the block size and who gets what, no confusions there.
Are you brain damaged?
No, but my understanding of pool mechanics is probably higher than yours.
Quote
1. Pool mines a block.
And if that block is lucky, operator does not award anything and continues on as if the pool has not mined a block. The incentive to do this with a lucky block is incredibly high because the odds of being found out when only doing this on a rare occasion are low. Unless pool systems have advanced to where each miner now has a piece of proof in the block, like p2pool. If they have not and still operate under the same conditions as pools have in the past, then a pool operator can get away with a huge payout with his worker bees none the wiser. But I don't keep up with pool technology because I couldn't care less about it, so it is possible that pools operate differently nowadays. So I raised the question as to whether or not this vulnerability with pools has been fixed, because luckycoin makes it very ripe for the exploitation if not.
Try reading what I said again. You can verify the amount of LKY minted with each block in the block chain explorer. How is that difficult to understand?
How does this prove that a pool mined a lucky block and did not tell anyone?
A good user-based pool will publish the amount of LKY each block yielded, and this can be verified in the block chain explorer.
Try reading what I said again. You can verify the amount of LKY minted with each block in the block chain explorer. How is that difficult to understand?Whoopee, you can verify that it mined a block that it admitted mining. That wasn't my question.
And in a P2Pool the minted coins are sent directly to your wallet in proportion to your share rate, so if a large block is found you get whatever percent of it you would normally get with a small block.
Again, you can verify the amount of LKY minted with each block to see if your pool operator is being honest. There are many other, easier ways a pool operator can rip off miners, not just with LKY but any coin. This is why its always important to join a pool you trust. This is why I asked if people are mostly using p2pool nowadays. The bonus blocks are very convenient for pool operators to forget that they mined.
Yeah I believe so. Much easier. I love this coin.
A good user-based pool will publish the amount of LKY each block yielded, and this can be verified in the block chain explorer.
Whoopee, you can verify that it mined a block that it admitted mining. That wasn't my question.
Quote
And in a P2Pool the minted coins are sent directly to your wallet in proportion to your share rate, so if a large block is found you get whatever percent of it you would normally get with a small block.
This is why I asked if people are mostly using p2pool nowadays. The bonus blocks are very convenient for pool operators to forget that they mined.
So has anyone raised the question in this shitclone about what happens when pool operators decide to pretend they didn't mine a lucky block? Is mostly everyone using p2pool? AFAIK, pool operators can still effectively steal from its users. Or do pools now run on some kind of system that prevents that? I don't keep up with the numerous gibberish acronyms.
A good user-based pool will publish the amount of LKY each block yielded, and this can be verified in the block chain explorer. And in a P2Pool the minted coins are sent directly to your wallet in proportion to your share rate, so if a large block is found you get whatever percent of it you would normally get with a small block.this has been the most I have ever used a p2pool has been with this coin, and I love it no stupid usernames workers ect. just plug in and done haha.
So has anyone raised the question in this shitclone about what happens when pool operators decide to pretend they didn't mine a lucky block? Is mostly everyone using p2pool? AFAIK, pool operators can still effectively steal from its users. Or do pools now run on some kind of system that prevents that? I don't keep up with the numerous gibberish acronyms.
A good user-based pool will publish the amount of LKY each block yielded, and this can be verified in the block chain explorer. And in a P2Pool the minted coins are sent directly to your wallet in proportion to your share rate, so if a large block is found you get whatever percent of it you would normally get with a small block.this has been the most I have ever used a p2pool has been with this coin, and I love it no stupid usernames workers ect. just plug in and done haha.
So has anyone raised the question in this shitclone about what happens when pool operators decide to pretend they didn't mine a lucky block? Is mostly everyone using p2pool? AFAIK, pool operators can still effectively steal from its users. Or do pools now run on some kind of system that prevents that? I don't keep up with the numerous gibberish acronyms.
A good user-based pool will publish the amount of LKY each block yielded, and this can be verified in the block chain explorer. And in a P2Pool the minted coins are sent directly to your wallet in proportion to your share rate, so if a large block is found you get whatever percent of it you would normally get with a small block. 
diff down a bit, great for mining now. Got some additional payment from the pool due to superblocks 
at last sold 435 for 0.8 ltc got out while I still could 
thank god! lol
at last sold 435 for 0.8 ltc got out while I still could
thank god! lol
Hey Guys, finally I managed to set up a P2Pool for LuckyCoin on my Server
Its reachable through
crypto-coins.de:8910
As it is P2Pool, just use your Wallet Address as Username and a random Passwort
Example:
Fee is just 1%
All my Pools are running very very smooth. I have very satisfied users.
Would be very nice, if you try my Pool with a little hashing power, to make Payout more regular
Its reachable through
crypto-coins.de:8910
As it is P2Pool, just use your Wallet Address as Username and a random Passwort
Example:
Code:
cgminer.exe --scrypt -u ECGDM4tiC3L6rM5eCKYg5foQG9uY7esTqL -p fghdfdgh -o crypto-coins.de:8910]
Fee is just 1%
All my Pools are running very very smooth. I have very satisfied users.
Would be very nice, if you try my Pool with a little hashing power, to make Payout more regular
at last sold 435 for 0.8 ltc got out while I still could
435 lucky coins for 1 ltc please take them off me
msg me i'll take them for .5 ltc if you want to move them that badLOL
So has anyone raised the question in this shitclone about what happens when pool operators decide to pretend they didn't mine a lucky block? Is mostly everyone using p2pool? AFAIK, pool operators can still effectively steal from its users. Or do pools now run on some kind of system that prevents that? I don't keep up with the numerous gibberish acronyms.
435 lucky coins for 1 ltc please take them off me
msg me i'll take them for .5 ltc if you want to move them that badLOL
435 lucky coins for 1 ltc please take them off me
msg me i'll take them for .5 ltc if you want to move them that bad Jump to: