[ANN][BAC]BaseCoin, POW+POS Coin with message| New Version 1.1.1 - page 2.

sheinsha

sr. member

Activity: 434

Merit: 250

Quote from: sheinsha on October 12, 2013, 01:00:53 AM

Quote from: sheinsha on October 07, 2013, 01:44:53 PM

Quote from: sheinsha on October 07, 2013, 12:01:38 PM

Minar.cc Basecoin PPLNS Pool

I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate.

Please let me know if you find anything out of normal, comments and suggestions also welcome!

I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee.

bac.minar.cc

Start your miner using the following parameters:

URL:	stratum+tcp://bac.minar.cc
PORT:	3339
USER:	username.worker
PASS:	workerPass

Sample command-line:
./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass

VARDIFF + Stratum PPLNS Mining Pool up

bac.minar.cc

Anyone mining this coin?
Network Hashrate: 1.058 MH/s
Whoever that is, you are welcome on the pool

Im about to close my pool for this coin, net has been <1MH for a while now... Anyone interested in continuing mining at bac.minar.cc speak now, or forever hold it...

sheinsha

sr. member

Activity: 434

Merit: 250

Quote from: sheinsha on October 07, 2013, 01:44:53 PM

Quote from: sheinsha on October 07, 2013, 12:01:38 PM

Minar.cc Basecoin PPLNS Pool

I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate.

Please let me know if you find anything out of normal, comments and suggestions also welcome!

I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee.

bac.minar.cc

Start your miner using the following parameters:

URL:	stratum+tcp://bac.minar.cc
PORT:	3339
USER:	username.worker
PASS:	workerPass

Sample command-line:
./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass

VARDIFF + Stratum PPLNS Mining Pool up

bac.minar.cc

Anyone mining this coin?
Network Hashrate: 1.058 MH/s
Whoever that is, you are welcome on the pool

sheinsha

sr. member

Activity: 434

Merit: 250

Quote from: sheinsha on October 07, 2013, 12:01:38 PM

Minar.cc Basecoin PPLNS Pool

I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate.

Please let me know if you find anything out of normal, comments and suggestions also welcome!

I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee.

bac.minar.cc

Start your miner using the following parameters:

URL:	stratum+tcp://bac.minar.cc
PORT:	3339
USER:	username.worker
PASS:	workerPass

Sample command-line:
./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass

VARDIFF + Stratum PPLNS Mining Pool up

bac.minar.cc

Bfljosh

hero member

Activity: 714

Merit: 500

Skol!

Quote from: Bfljosh on October 07, 2013, 11:39:45 AM

Is there a problem with the mining pool not paying out?

I am mining for a few hours now, no payment received. Cry

Lingling88 please fix this or I go solomine.

My name is Lordbacon in your pool.

Ok I'm out.

sheinsha

sr. member

Activity: 434

Merit: 250

Minar.cc Basecoin PPLNS Pool

I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate.

Please let me know if you find anything out of normal, comments and suggestions also welcome!

I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee.

bac.minar.cc

Start your miner using the following parameters:

URL:	stratum+tcp://bac.minar.cc
PORT:	3339
USER:	username.worker
PASS:	workerPass

Sample command-line:
./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass

Bfljosh

hero member

Activity: 714

Merit: 500

Skol!

Is there a problem with the mining pool not paying out?

I am mining for a few hours now, no payment received. Cry

Lingling88 please fix this or I go solomine.

My name is Lordbacon in your pool.

chris.capossela

newbie

Activity: 31

Merit: 0

Quote from: Balthazar on October 02, 2013, 01:30:58 PM

Quote from: chris.capossela on September 28, 2013, 07:52:59 PM

I think hashing power is also important when racing with the attacker, is that correct?

No, it's incorrect. Read #5 again.

I did a little research by myself.
So, proof-of-stake miners are forced to test only one hashing per second.
That means variable input in the hash function is a timestamp only (like 1381142256 which is unix time), and all the other inputs are fixed at a given block.

That being said, a question arises that how to synchronize the entire network's time?
Or just permit the time to be approximate and each node checks the timestamp be included in MYTIME + or - 300 seconds or so?

Then cheat miners could test the entire available timestamp numbers (601 numbers in the above case) in less than one second and broadcast it in case they find valid blocks. I think that makes PoS difficulty unreasonably high but because the cheat miners burn their stakes so quickly, the situation will become normal in the end.

This may not be relating to double-spending attacks, and I am not sure whether it may be a problem or not.

PoS block finding relies on the timestamp, so time synchronization or time-range management is important, I think. Could you explain how to keep the timestamp from being evaluated rapidly? Thank you.

Balthazar

legendary

Activity: 3108

Merit: 1359

Quote from: ilostcoins on September 29, 2013, 05:59:33 AM

Quote from: Balthazar on September 07, 2013, 08:53:52 PM

Quote from: basecoin on September 07, 2013, 06:35:54 PM

Proof of stake coin is more resilient to 51% attack. Since 51% hashpower is not enough to execute a 51% attack. The attackers must also have at least 51% stake.

I.e. another insecure copy&paste without any background... %)

1) Only active stake matters. I.e. if there are total 1000-2000 coins participating in generation, it doesn't matter how many coins exists here. Only this 1000-2000 coins should be counted.
2) Coins amount doesn't matter, only coin*day weight. If you have 1 coin with 0.5 days age then you have the weight, which equal to 0.5 coins with 1 day age.
3) Attacker don't need any hashpower, he needs only some coins.
4) Unlike PoW hashing rate, stake inputs could be re-used multiple times. Attacker can retry attempts to generate subsequent blocks until he get success. He can create multiple wallet copies, for example.

Attempts to get successful double spend could be calculated as 1/AttackerWeight^Nconf, AttackerWeight = (% of network weight) / 100, Nconf = 4 (the worst case, 4 subsequent PoS blocks).

So, average required attempts will be:
[table 1]

First column: Attacker's coin*day weight % of the total network weight.
Second column: Average attempts required to get success in the double-spend attack.

5) PoW don't participate in the network protection. If 1 PoW block was generated on the network in the time of your attack then you need less confirmations.

1/AttackerWeight^3

[table 2]

This applies to every coin with POS, right?

Yes, if it uses PoS blocks as the only trust score source.

Quote from: chris.capossela on September 28, 2013, 07:52:59 PM

I think hashing power is also important when racing with the attacker, is that correct?

No, it's incorrect. Read #5 again.

ilostcoins

sr. member

Activity: 274

Merit: 250

Quote from: Balthazar on September 07, 2013, 08:53:52 PM

Quote from: basecoin on September 07, 2013, 06:35:54 PM

Proof of stake coin is more resilient to 51% attack. Since 51% hashpower is not enough to execute a 51% attack. The attackers must also have at least 51% stake.

I.e. another insecure copy&paste without any background... %)

1) Only active stake matters. I.e. if there are total 1000-2000 coins participating in generation, it doesn't matter how many coins exists here. Only this 1000-2000 coins should be counted.
2) Coins amount doesn't matter, only coin*day weight. If you have 1 coin with 0.5 days age then you have the weight, which equal to 0.5 coins with 1 day age.
3) Attacker don't need any hashpower, he needs only some coins.
4) Unlike PoW hashing rate, stake inputs could be re-used multiple times. Attacker can retry attempts to generate subsequent blocks until he get success. He can create multiple wallet copies, for example.

Attempts to get successful double spend could be calculated as 1/AttackerWeight^Nconf, AttackerWeight = (% of network weight) / 100, Nconf = 4 (the worst case, 4 subsequent PoS blocks).

So, average required attempts will be:
[table 1]

First column: Attacker's coin*day weight % of the total network weight.
Second column: Average attempts required to get success in the double-spend attack.

5) PoW don't participate in the network protection. If 1 PoW block was generated on the network in the time of your attack then you need less confirmations.

1/AttackerWeight^3

[table 2]

This applies to every coin with POS, right?

btbrae

hero member

Activity: 680

Merit: 500

All your base are belong to me...

(sorry)

wmikrut

hero member

Activity: 631

Merit: 501

"Basecoin provides annual interest rate of 0.01%, for stakes that are not moved."

Wow... I think one could make more in transaction fees... in one day ....

chris.capossela

newbie

Activity: 31

Merit: 0

GoldBit89

hero member

Activity: 526

Merit: 500

Its all about the Gold

What makes this coin rare? and honestly this coin is no different then Bitgems,bottlecaps except for the feature of message transactions.

Also address Balthazars post above. i noticed how conveniently you by passed their reply.

and if none of above truly matters then has this coin fixed what issues and problems that have been plaguing bottlecaps and other pos type coins and maybe even been fixed in some coins already? If not , i am not going to even waste my time with this coin until it can be addressed.

Thanks.

basecoin

member

Activity: 98

Merit: 10

Basecoin ANN THREAD: http://tinyurl.com/n6kuk36

It seems that nobody has interests on this coin, but I see the network hash speed is about 35MH/s, this means that people are mining BAC.

Need more promotion on this coin.

basecoin

member

Activity: 98

Merit: 10

Basecoin ANN THREAD: http://tinyurl.com/n6kuk36

Need exchange for BAC, any one can help?

basecoin

member

Activity: 98

Merit: 10

Basecoin ANN THREAD: http://tinyurl.com/n6kuk36

This is really a good coin.

Joerii

legendary

Activity: 1274

Merit: 1050

Quote from: Fernandez on September 09, 2013, 03:58:58 AM

Quote from: Hydroponica on September 07, 2013, 07:20:35 PM

Quote from: DigitalMan on September 07, 2013, 06:50:14 PM

Quote from: basecoin on September 07, 2013, 06:43:00 PM

Reserved.

How this coin get to .4 difficulty so freaking fast!

Difficulty retargets every block

Yet another Hydroponica coin. I thought you had stopped releasing coins under aliases.

I don't think so. Hydroponica's English is better. This English has an Asian flavor to it.

Or Hydro's just getting sophisticated and gets in character when he uses an alias

Fernandez

legendary

Activity: 1008

Merit: 1000

Quote from: Hydroponica on September 07, 2013, 07:20:35 PM

Quote from: DigitalMan on September 07, 2013, 06:50:14 PM

Quote from: basecoin on September 07, 2013, 06:43:00 PM

Reserved.

How this coin get to .4 difficulty so freaking fast!

Difficulty retargets every block

Yet another Hydroponica coin. I thought you had stopped releasing coins under aliases.

basecoin

member

Activity: 98

Merit: 10

Basecoin ANN THREAD: http://tinyurl.com/n6kuk36

Quote from: Wichmann on September 08, 2013, 10:13:45 AM

Buy basecoin.

It's not easy to buy basecoin.

BTW, can someone contact with some exchange platforms and ask them to add BAC?

basecoin

member

Activity: 98

Merit: 10

Basecoin ANN THREAD: http://tinyurl.com/n6kuk36

Quote from: MaGNeT on September 08, 2013, 11:58:25 AM

On the "Which coin would you like to see on PhenixEx?" POLL, these are the new coins you can vote for!

[SIC] - SIFCoin
[BFC] - ButterflyCoin
[BAC] - BaseCoin
[MPL] - Maples
[cD] - CryptoDollar

Did you vote for your favorite coin(s) already?

We suggest you guys vote for BaseCoin.

Topic: [ANN][BAC]BaseCoin, POW+POS Coin with message| New Version 1.1.1 - page 2. (Read 9280 times)