Topic: [ANN] X-CASH | Open-source | Public, private tx | DPOS based CN coin - page 50. (Read 137463 times)
October 05, 2018, 07:47:56 AM
I am a huge supporter of xcash and therefore part of the large community. Love the fact that mining xcash is not out of reach and this makes for more miners to get in on it. My issue though is the huge amount that would supposedly be in circulation and I fear this might make the coin to be flooded in the crypto space since everyone can mine a whole lot of xcash. With this much xcash in circulation the price may dip very low. I wish there amount would be reduced to give the coin a chance a moon..
October 05, 2018, 07:41:07 AM
@X-CASH_Zach_H on discord clarified about the coming fork , basically all of the fork affected every coin, that's why they offered an coin shifting exchange to the new fork coin.. This is a good news to everyone, meaning nothing can be affected when the fork launch unless we need to upgrade to the latest version of wallet.. Great job to the team! You have a brilliant mind..
here's the team answered in Discord about the coming fork:
@john1010 nothing is happening it is a softfork so you dont have to do anything basically and the old chain is worthless
the hard fork (the important fork) wont be until later this month.
here's the team answered in Discord about the coming fork:
@john1010 nothing is happening it is a softfork so you dont have to do anything basically and the old chain is worthless
the hard fork (the important fork) wont be until later this month.
October 05, 2018, 02:42:38 AM
Latest news from CEO at X-CASH.org Guilhem Chaumont - Preventing NiceHash Pumps
Some people have been using Nicehash to send bursts of hash rates at specific frequencies which allow them to arbitrage the difficulty mining algorithm. In short, this allows them to mine significant amounts of XCASH at a (low) difficulty which doesn’t reflect the real difficulty they should mine at. We forecasted this scenario in the whitepaper and warned the community that abuses would lead to an action from our end for this to stop. It is now time to put this in practice.
Among the possibilities reviewed, our current plan is to modify the difficulty algorithm by using zawy’s LWMA algorithm (https://github.com/zawy12/difficulty-algorithms/issues/3). We are setting up a modified version of its LWMA-2 which will allow for fast response time when experiencing network hashrate jump. In short, this algorithm uses a much lower timeframe (90 blocks vs. 720) with an additional difficulty adjustment when blocks are found too fast. We will also be adding an extra adjustment for the difficulty on the downside when blocks are found too slowly. To give you a more pragmatical picture of what this algorithm will do: in the case of a network hashrate jump by three times, the difficulty will be adjusted in around 15 blocks.
We think this solution is currently the best tradeoff before the PoS implementation as it will give us the best of both worlds: high tolerance to Nicehash bursts while keeping Nicehash liquidity. With regards to the timeframe of the implementation, we are in a complicated equation where we had initially planned to hard fork in late October, but we cannot wait until then as this is causing a significant threat for the sustainability of the project. We are currently reviewing the possibility of making an all-in-one hard fork release where we will have: public & bulletproof transactions, new difficulty algorithm and (increased) static ring size. The targetted release for this most likely scenario is October 18th. This is still conditional on a few external elements, and we will confirm and communicate more details in the next days.
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
Some people have been using Nicehash to send bursts of hash rates at specific frequencies which allow them to arbitrage the difficulty mining algorithm. In short, this allows them to mine significant amounts of XCASH at a (low) difficulty which doesn’t reflect the real difficulty they should mine at. We forecasted this scenario in the whitepaper and warned the community that abuses would lead to an action from our end for this to stop. It is now time to put this in practice.
Among the possibilities reviewed, our current plan is to modify the difficulty algorithm by using zawy’s LWMA algorithm (https://github.com/zawy12/difficulty-algorithms/issues/3). We are setting up a modified version of its LWMA-2 which will allow for fast response time when experiencing network hashrate jump. In short, this algorithm uses a much lower timeframe (90 blocks vs. 720) with an additional difficulty adjustment when blocks are found too fast. We will also be adding an extra adjustment for the difficulty on the downside when blocks are found too slowly. To give you a more pragmatical picture of what this algorithm will do: in the case of a network hashrate jump by three times, the difficulty will be adjusted in around 15 blocks.
We think this solution is currently the best tradeoff before the PoS implementation as it will give us the best of both worlds: high tolerance to Nicehash bursts while keeping Nicehash liquidity. With regards to the timeframe of the implementation, we are in a complicated equation where we had initially planned to hard fork in late October, but we cannot wait until then as this is causing a significant threat for the sustainability of the project. We are currently reviewing the possibility of making an all-in-one hard fork release where we will have: public & bulletproof transactions, new difficulty algorithm and (increased) static ring size. The targetted release for this most likely scenario is October 18th. This is still conditional on a few external elements, and we will confirm and communicate more details in the next days.
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
I'm starting to like this project more and more. Is the 100 million collateral for a node already set in stone?
This is 95% sure. But there are some community initiatives in the pipeline to have shared nodes. Similarly, we are still thinking about having the shared nodes directly embedded in the code through a smart contract.
Guilhem.
October 04, 2018, 08:44:41 AM
Latest news from CEO at X-CASH.org Guilhem Chaumont - Preventing NiceHash Pumps
Some people have been using Nicehash to send bursts of hash rates at specific frequencies which allow them to arbitrage the difficulty mining algorithm. In short, this allows them to mine significant amounts of XCASH at a (low) difficulty which doesn’t reflect the real difficulty they should mine at. We forecasted this scenario in the whitepaper and warned the community that abuses would lead to an action from our end for this to stop. It is now time to put this in practice.
Among the possibilities reviewed, our current plan is to modify the difficulty algorithm by using zawy’s LWMA algorithm (https://github.com/zawy12/difficulty-algorithms/issues/3). We are setting up a modified version of its LWMA-2 which will allow for fast response time when experiencing network hashrate jump. In short, this algorithm uses a much lower timeframe (90 blocks vs. 720) with an additional difficulty adjustment when blocks are found too fast. We will also be adding an extra adjustment for the difficulty on the downside when blocks are found too slowly. To give you a more pragmatical picture of what this algorithm will do: in the case of a network hashrate jump by three times, the difficulty will be adjusted in around 15 blocks.
We think this solution is currently the best tradeoff before the PoS implementation as it will give us the best of both worlds: high tolerance to Nicehash bursts while keeping Nicehash liquidity. With regards to the timeframe of the implementation, we are in a complicated equation where we had initially planned to hard fork in late October, but we cannot wait until then as this is causing a significant threat for the sustainability of the project. We are currently reviewing the possibility of making an all-in-one hard fork release where we will have: public & bulletproof transactions, new difficulty algorithm and (increased) static ring size. The targetted release for this most likely scenario is October 18th. This is still conditional on a few external elements, and we will confirm and communicate more details in the next days.
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
Some people have been using Nicehash to send bursts of hash rates at specific frequencies which allow them to arbitrage the difficulty mining algorithm. In short, this allows them to mine significant amounts of XCASH at a (low) difficulty which doesn’t reflect the real difficulty they should mine at. We forecasted this scenario in the whitepaper and warned the community that abuses would lead to an action from our end for this to stop. It is now time to put this in practice.
Among the possibilities reviewed, our current plan is to modify the difficulty algorithm by using zawy’s LWMA algorithm (https://github.com/zawy12/difficulty-algorithms/issues/3). We are setting up a modified version of its LWMA-2 which will allow for fast response time when experiencing network hashrate jump. In short, this algorithm uses a much lower timeframe (90 blocks vs. 720) with an additional difficulty adjustment when blocks are found too fast. We will also be adding an extra adjustment for the difficulty on the downside when blocks are found too slowly. To give you a more pragmatical picture of what this algorithm will do: in the case of a network hashrate jump by three times, the difficulty will be adjusted in around 15 blocks.
We think this solution is currently the best tradeoff before the PoS implementation as it will give us the best of both worlds: high tolerance to Nicehash bursts while keeping Nicehash liquidity. With regards to the timeframe of the implementation, we are in a complicated equation where we had initially planned to hard fork in late October, but we cannot wait until then as this is causing a significant threat for the sustainability of the project. We are currently reviewing the possibility of making an all-in-one hard fork release where we will have: public & bulletproof transactions, new difficulty algorithm and (increased) static ring size. The targetted release for this most likely scenario is October 18th. This is still conditional on a few external elements, and we will confirm and communicate more details in the next days.
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
I'm starting to like this project more and more. Is the 100 million collateral for a node already set in stone?
October 04, 2018, 06:56:15 AM
Latest news from CEO at X-CASH.org Guilhem Chaumont - Preventing NiceHash Pumps
Some people have been using Nicehash to send bursts of hash rates at specific frequencies which allow them to arbitrage the difficulty mining algorithm. In short, this allows them to mine significant amounts of XCASH at a (low) difficulty which doesn’t reflect the real difficulty they should mine at. We forecasted this scenario in the whitepaper and warned the community that abuses would lead to an action from our end for this to stop. It is now time to put this in practice.
Among the possibilities reviewed, our current plan is to modify the difficulty algorithm by using zawy’s LWMA algorithm (https://github.com/zawy12/difficulty-algorithms/issues/3). We are setting up a modified version of its LWMA-2 which will allow for fast response time when experiencing network hashrate jump. In short, this algorithm uses a much lower timeframe (90 blocks vs. 720) with an additional difficulty adjustment when blocks are found too fast. We will also be adding an extra adjustment for the difficulty on the downside when blocks are found too slowly. To give you a more pragmatical picture of what this algorithm will do: in the case of a network hashrate jump by three times, the difficulty will be adjusted in around 15 blocks.
We think this solution is currently the best tradeoff before the PoS implementation as it will give us the best of both worlds: high tolerance to Nicehash bursts while keeping Nicehash liquidity. With regards to the timeframe of the implementation, we are in a complicated equation where we had initially planned to hard fork in late October, but we cannot wait until then as this is causing a significant threat for the sustainability of the project. We are currently reviewing the possibility of making an all-in-one hard fork release where we will have: public & bulletproof transactions, new difficulty algorithm and (increased) static ring size. The targetted release for this most likely scenario is October 18th. This is still conditional on a few external elements, and we will confirm and communicate more details in the next days.
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
Some people have been using Nicehash to send bursts of hash rates at specific frequencies which allow them to arbitrage the difficulty mining algorithm. In short, this allows them to mine significant amounts of XCASH at a (low) difficulty which doesn’t reflect the real difficulty they should mine at. We forecasted this scenario in the whitepaper and warned the community that abuses would lead to an action from our end for this to stop. It is now time to put this in practice.
Among the possibilities reviewed, our current plan is to modify the difficulty algorithm by using zawy’s LWMA algorithm (https://github.com/zawy12/difficulty-algorithms/issues/3). We are setting up a modified version of its LWMA-2 which will allow for fast response time when experiencing network hashrate jump. In short, this algorithm uses a much lower timeframe (90 blocks vs. 720) with an additional difficulty adjustment when blocks are found too fast. We will also be adding an extra adjustment for the difficulty on the downside when blocks are found too slowly. To give you a more pragmatical picture of what this algorithm will do: in the case of a network hashrate jump by three times, the difficulty will be adjusted in around 15 blocks.
We think this solution is currently the best tradeoff before the PoS implementation as it will give us the best of both worlds: high tolerance to Nicehash bursts while keeping Nicehash liquidity. With regards to the timeframe of the implementation, we are in a complicated equation where we had initially planned to hard fork in late October, but we cannot wait until then as this is causing a significant threat for the sustainability of the project. We are currently reviewing the possibility of making an all-in-one hard fork release where we will have: public & bulletproof transactions, new difficulty algorithm and (increased) static ring size. The targetted release for this most likely scenario is October 18th. This is still conditional on a few external elements, and we will confirm and communicate more details in the next days.
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
October 04, 2018, 01:35:52 AM
X-CASH (XCA) Mining Pool by HeroMiners
Pool Url: https://xcash.herominers.com/
https://xcash.herominers.com
Payout threshold 500 XCA
Denomination Unit: 0.1 XCA
Payment Interval: 1 minutes
Pool Fee: %0.8
xmr-node-proxy supported
Dedicated Server
Worker hash rate charts
E-Mail Notification Of Miners Down
Configurable minimal payout
Telegram worker and payment notification bot.
Discord Channel: https://discord.gg/gvWSs84
Happy Hashing!
Welcome and Happy Mining!
Nice Mining Pool bro. But I would like to have a mining like you, I do not have money to buy like mining, hopefully after this project.Pool Url: https://xcash.herominers.com/
https://xcash.herominers.com
Payout threshold 500 XCA
Denomination Unit: 0.1 XCA
Payment Interval: 1 minutes
Pool Fee: %0.8
xmr-node-proxy supported
Dedicated Server
Worker hash rate charts
E-Mail Notification Of Miners Down
Configurable minimal payout
Telegram worker and payment notification bot.
Discord Channel: https://discord.gg/gvWSs84
Happy Hashing!
Welcome and Happy Mining!
hopefully payday from the bounty can buy the tool
October 04, 2018, 01:33:47 AM
X-CASH (XCA) Mining Pool by HeroMiners
Pool Url: https://xcash.herominers.com/
https://xcash.herominers.com
Payout threshold 500 XCA
Denomination Unit: 0.1 XCA
Payment Interval: 1 minutes
Pool Fee: %0.8
xmr-node-proxy supported
Dedicated Server
Worker hash rate charts
E-Mail Notification Of Miners Down
Configurable minimal payout
Telegram worker and payment notification bot.
Discord Channel: https://discord.gg/gvWSs84
Happy Hashing!
Welcome and Happy Mining!
Nice Mining Pool bro. But I would like to have a mining like you, I do not have money to buy like mining, hopefully after this project. Pool Url: https://xcash.herominers.com/
https://xcash.herominers.com
Payout threshold 500 XCA
Denomination Unit: 0.1 XCA
Payment Interval: 1 minutes
Pool Fee: %0.8
xmr-node-proxy supported
Dedicated Server
Worker hash rate charts
E-Mail Notification Of Miners Down
Configurable minimal payout
Telegram worker and payment notification bot.
Discord Channel: https://discord.gg/gvWSs84
Happy Hashing!
Welcome and Happy Mining!
October 04, 2018, 01:20:34 AM
Hi xcash team I didn't receive my first and second airdrop this is my adress:
XCA1gKYF42egzDCcjSgvvYP9d732y2NjqJmZNX3i4HyaRskNsQBhvjq3TGCT2e7JkYUx5kVS7vHM9J3 ebC3QFU4287ZmD9DJXQ
No one to respond in telegram...
XCA1gKYF42egzDCcjSgvvYP9d732y2NjqJmZNX3i4HyaRskNsQBhvjq3TGCT2e7JkYUx5kVS7vHM9J3 ebC3QFU4287ZmD9DJXQ
No one to respond in telegram...
October 03, 2018, 10:11:33 PM
here is our proposed solution to the problem
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
we setup testing today (creating private testnet and private pool for the testnet)
tomorrow we are going to start testing the solutions and see what settings react best with our coin
we will update in a day or two how its going
I am logging the data points for all test, so I think at the end of this we can display a chart of a simulated nicehash pump to show the difference of how the old algo reacts vs the new implementation for a visual representation of the fix
in the article we also briefly mention what our next hard fork in a few weeks will bring
Guilhem will post another article in a few days explaining more on the public TX that were building and the other points to this release
I will probably write one in depth article on the public TX a few days before launch
https://medium.com/x-cash/preventing-nicehash-pumps-911f9ee78637
we setup testing today (creating private testnet and private pool for the testnet)
tomorrow we are going to start testing the solutions and see what settings react best with our coin
we will update in a day or two how its going
I am logging the data points for all test, so I think at the end of this we can display a chart of a simulated nicehash pump to show the difference of how the old algo reacts vs the new implementation for a visual representation of the fix
in the article we also briefly mention what our next hard fork in a few weeks will bring
Guilhem will post another article in a few days explaining more on the public TX that were building and the other points to this release
I will probably write one in depth article on the public TX a few days before launch
October 03, 2018, 07:35:20 PM
I just saw this statement on the telegram conversation and it will help us to understand the "cn7 bug" this is very interesting information and it could help us out to get some knowledge on what happening on the network hashrate of XCASH
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
All cedits go to Guilhem, dev of X-CASH, prolly the copy/ paste went wrong here. His name is in my original post.
I stated that this is a copy paste information right?, I think you are not blind to read my description.. So I got this information in telegram posted by Bruno Bosmans one of the XCASH telegram community member, And if this article originated to Guilhem so I also give him the credits of this information..
October 03, 2018, 04:36:56 PM
I just saw this statement on the telegram conversation and it will help us to understand the "cn7 bug" this is very interesting information and it could help us out to get some knowledge on what happening on the network hashrate of XCASH
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
I sense this is of extreme importance but there are a few concepts with which I am not familiar - concepts like "nicehash pumps" - - how does that work? - and the mining arbitrage stuff. Anyone willing to explain that also in a way the man in the Street would understand?
October 03, 2018, 01:48:36 PM
Hi Everyone I just wanted to keep this forum updated since I know some people dont have time to stop by telegram or discord.
we had a meeting today about the hashrate and I believe we have come up with a solution.
I implemented it today into the code, and tomorrow were going to have another meeting on it and then compile and run on the testnet and start testing the code to see how it reacts.
after tomorrows meeting Guilhem is going to create an article on what our plan is and when we plan on actually implementing it on the main net
we had a meeting today about the hashrate and I believe we have come up with a solution.
I implemented it today into the code, and tomorrow were going to have another meeting on it and then compile and run on the testnet and start testing the code to see how it reacts.
after tomorrows meeting Guilhem is going to create an article on what our plan is and when we plan on actually implementing it on the main net
Awesome! Really impressed with the team, though small you're really efficient and the project's growth shows that.
I'll keep mining and spreading the word about this project.
October 03, 2018, 06:39:05 AM
I have high hopes for this project and want to give a big thanks to devs. I hope we can get this hashrate figured out.
October 03, 2018, 01:37:46 AM
Hi Everyone I just wanted to keep this forum updated since I know some people dont have time to stop by telegram or discord.
we had a meeting today about the hashrate and I believe we have come up with a solution.
I implemented it today into the code, and tomorrow were going to have another meeting on it and then compile and run on the testnet and start testing the code to see how it reacts.
after tomorrows meeting Guilhem is going to create an article on what our plan is and when we plan on actually implementing it on the main net
we had a meeting today about the hashrate and I believe we have come up with a solution.
I implemented it today into the code, and tomorrow were going to have another meeting on it and then compile and run on the testnet and start testing the code to see how it reacts.
after tomorrows meeting Guilhem is going to create an article on what our plan is and when we plan on actually implementing it on the main net
Great Move, Thank you for giving attention to miners community. Miners will be delighted and happy with the progress. NiceHash Resistant will attract more home miners to the coin.
October 02, 2018, 10:47:55 PM
Hi Everyone I just wanted to keep this forum updated since I know some people dont have time to stop by telegram or discord.
we had a meeting today about the hashrate and I believe we have come up with a solution.
I implemented it today into the code, and tomorrow were going to have another meeting on it and then compile and run on the testnet and start testing the code to see how it reacts.
after tomorrows meeting Guilhem is going to create an article on what our plan is and when we plan on actually implementing it on the main net
we had a meeting today about the hashrate and I believe we have come up with a solution.
I implemented it today into the code, and tomorrow were going to have another meeting on it and then compile and run on the testnet and start testing the code to see how it reacts.
after tomorrows meeting Guilhem is going to create an article on what our plan is and when we plan on actually implementing it on the main net
October 02, 2018, 08:28:56 PM
i must say im impressed, i really liked what i saw and i really hope this project will succeed, there are a lot of projects around that are similar in some way, this project has a very interesting approach on how things should happen and it is one coin i can see growing very nice, the team is not big though it looks like they are doing a hell of a job and im sure that over time there will be some more ppl jumping on board to make this project even better.
this one is a coin ill be keeping under my radar as this is only the beginning and there is a lot of room to grow.
Keep up the awesome work Team X-Cash.
this one is a coin ill be keeping under my radar as this is only the beginning and there is a lot of room to grow.
Keep up the awesome work Team X-Cash.
October 02, 2018, 05:25:50 PM
I just saw this statement on the telegram conversation and it will help us to understand the "cn7 bug" this is very interesting information and it could help us out to get some knowledge on what happening on the network hashrate of XCASH
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
All cedits go to Guilhem, dev of X-CASH, prolly the copy/ paste went wrong here. His name is in my original post.
October 02, 2018, 01:22:48 PM
October 02, 2018, 09:42:52 AM
I just saw this statement on the telegram conversation and it will help us to understand the "cn7 bug" this is very interesting information and it could help us out to get some knowledge on what happening on the network hashrate of XCASH
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
For people who still think there is a 'cn7 bug' and are not convinced the high hashrate network is from nicehash, read up the following:
There is some interesting discussion about the network hashrate here, and I will try to answer it. First of all, we have mentioned the potential Nicehash issue in the whitepaper, and this is something we are well aware of. I have been myself a long time miner, which led me to start a mining firm in September 2017. Let me tell you that the difficulty adjustment lag does not solve the issue at all. This is already something we thought of, and the conclusion was that it was useless. Let's assume tomorrow we switch from 720 blocks to 360. Fantastic the nicehashers will get 'adjusted 2x faster, but so will be the adjustment on the 'downside'. So overall, this would only change the frequency of the nicehashing cycles, today with a period of ~36h tomorrow 2x less, etc.
So why did we allow Nicehash in the first place? As mentioned in the WP, this is to increase the liquidity of the hashing rate of the network. In theory, Nicehash is a brilliant invention because thanks to people arbitraging the market vs. mining price we can ramp up the network hashrate in a matter of seconds as the market price increase. Without it, it would take weeks for miners to buy and mount new rigs, or hours to find new miners in the network to plug their rigs.
The problem, now that the coin is starting to be considered as a serious player in the game, is that we are seeing more serious nicehashers coming in as well. I see 3 possibilities to
solve this issue in the midterm:
1. Asking the nicehashers to be nice and stop doing it. This can also be done by raising the threat that we will switch to a Nicehash resistant algo if they do not stop. I do not believe this solution could work.
2. We fork to a nicehash resistant algo, which could also make the network hashrate dump and generate a discrepancy between market and mining price, translating into a significant incentive for the miners to dump their proceed which would eventually lead to a decrease in the price.
3. We wait/hope to reach a network hashrate that will mitigate the impact of the nicehash pumps. My point is that today we don't witness hashrate pumps on Monero's network and the reason for that is the nicehash liquidity itself. There are more or less 50-100MH available at a decent price on Nicehash, so if tomorrow, one would try to use it to pump, the 'arbitrage' on the difficulty would only be ~20% (100/500MH). For XCASH, the potential arbitrage is as of today in the 1000% area (100/10MH). If we can get to 100MH of network HR, then the arbitrage with nicehash would become less efficient.
There is a 4th Point that I did not mention because it is more in the long term and obvious. When we switch the PoS the problem will be over so the issue we are facing right now is only a few months issue we have to deal with. I am looking for your feedback on this as whatever decision we take will be taken as a community. We have stated in the WP that if there were too many abuse with Nicehash we would make the algo incompatible with it. Thank you
Credit to Bruno Bosmans of Telegram
October 02, 2018, 09:38:32 AM
What happened to the X-Cash faucet? URL http://x-cashpool.com/index is not available
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