Topic: [ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000 - page 367. (Read 2171083 times)

A friend of mine mentioned that Vitalik Buterin of Ethereum said that POC has a flaw and that someone can attack the network and cause a double spend.  He said it was posted on Reddit.  But I can't find it anywhere.  Is this true?  If so can someone post the link?  ty

Vitalik Buterin zash • a month ago

I'll copy my post from Reddit:

> Okay, I thought about POC for 15 minutes, and...
>
> wow, congrats, these guys have managed to create an algorithm which
simultaneously has a nothing at stake vulnerability AND is economically
inefficient.
> The problem is this. It seems as though the intent of the algorithm
is for the bulk of the cost to be storing the hard drive, and for the
hard drive to be able to "idle" after it scanned through the entire
plot. However, this means that once the plots are built, there is very
little cost to redoing the scan multiple times on multiple forks. Hence,
if an attacker could either (i) convince miners that its fork had a
>0.1%* chance of succeeding or (ii) bribe miners 0.001x the block
reward, miners all have the incentive to double-vote.
> * In order for the algo to be storage-bound and for a shortcut attack
involving recomputing everything not to exist, we need reading from the
hard drive to take less time than recomputing the data. But then we
want a 1000x safety margin if we want that condition to hold true
against potential ASIC implementations, hence reads need to be 1000x
cheaper than the plot computation step. Hence, reading more than one
time would have a marginal incremental cost of only 0.1%.

Things are this are why we didn't launch in Jan 2014

However, this means that once the plots are built, there is very little cost to redoing the scan multiple times on multiple forks.

Hence, if an attacker could either (i) convince miners that its fork had a
>0.1%* chance of succeeding or (ii) bribe miners 0.001x the block
reward, miners all have the incentive to double-vote.

> * In order for the algo to be storage-bound and for a shortcut attack
involving recomputing everything not to exist, we need reading from the
hard drive to take less time than recomputing the data. But then we
want a 1000x safety margin if we want that condition to hold true
against potential ASIC implementations, hence reads need to be 1000x
cheaper than the plot computation step. Hence, reading more than one
time would have a marginal incremental cost of only 0.1%.

Vitalik posted here:
https://www.cryptocoinsnews.com/cryptocurrency-burst-makes-smart-contracts-reality-happened-ethereum/

not sure where reddit comments are I'd be interested in reading them.

I posted couple times about this (or similar concern) a while back here:
https://bitcointalksearch.org/topic/m.10294205
and here:
https://bitcointalksearch.org/topic/m.10295020 However, this comment of mine, was to a post that someone has now deleted...

I could never get to the bottom of understanding Vitalik's claims, anyone want to clarify it please?

> Okay, I thought about POC for 15 minutes, and...
>
> wow, congrats, these guys have managed to create an algorithm which
simultaneously has a nothing at stake vulnerability AND is economically
inefficient.
> The problem is this. It seems as though the intent of the algorithm
is for the bulk of the cost to be storing the hard drive, and for the
hard drive to be able to "idle" after it scanned through the entire
plot. However, this means that once the plots are built, there is very
little cost to redoing the scan multiple times on multiple forks. Hence,
if an attacker could either (i) convince miners that its fork had a
>0.1%* chance of succeeding or (ii) bribe miners 0.001x the block
reward, miners all have the incentive to double-vote.
> * In order for the algo to be storage-bound and for a shortcut attack
involving recomputing everything not to exist, we need reading from the
hard drive to take less time than recomputing the data. But then we
want a 1000x safety margin if we want that condition to hold true
against potential ASIC implementations, hence reads need to be 1000x
cheaper than the plot computation step. Hence, reading more than one
time would have a marginal incremental cost of only 0.1%.

competition is good for business and risk diversification is highly recommend

-[ANNOUNCEMENT]- First Burstcoin.de Asset
New Asset with 2% Intrest a Month / 24% a Intrest a Year / Highly Secure

Asset Name – BdeBank
Total number available – 500.000
Price –  50 Burst
Asset Number (ID)– 4053085726300717216
First payout is the first of April!

2% intrest montly! This asset pays out 2% intrest monthly.  One B.deBank  Asset = 50 Burst. 2% of 50 Burst = 1 Burst / month payout.

URL: http://www.burstcoin.de/assets/asset_b.debank.pdf

Guaranteed monthly payout! Every first day of the month i will payout all intrest of the assets. Regardless how long you are owner oft them. Also if you bought the assets one day before the first.

Save Investment! The intrests are covered and backed by my mining system. If all shares are sold, i have to pay 500.000 Burst  intrest a month. My Miners make average 25.000 Burst per day, whats in a month 750.000 Burst. So the payment of intrest is secured forever. Also i am actually bring up more miners, also, look above, this is covert with my burst account with 8.4 Million Burstcoins atm.

Instant Cashout without loss! Also you can cashout anytime. I will buy back the assets from you. Therfore i will place a buy order for every sold asset with a price of 50 Burst. The price what i pay for the payback will decrease 1% every month.  Buywall will be created instantly after the first sales and adapted every first day of the month.

Burstcoin.de is the name oft the german website of burst , with mining guides, best practises, how tos, a manual for beginners, example hardwares from my miners, scripts for tracking the mining tasks, news over burst, etc. and information for the german community is actually daily added.

Bobafett is my username in Bitcointalk.org and burstforum.com.  I´m mining and investing in Burst qfilsince the beginning. I invested over 8500 Euros since now in Burst (bought with btc) and mining hardware. Until now i never sold any of my coins because i really belive this coin has a bright future.

Bobafett is the owner oft the account BURST-AJ63-3W8L-FGBT-2ALZE and now holding over 8.4 Million Burst and is now Top 11 of all Burst holders .

Bobafett is  mining with over 120TB every day and my next miner is acutally plotting. My daily minded income of burst are between 20.000 and 30.000 Burst.

A friend of mine mentioned that Vitalik Buterin of Ethereum said that POC has a flaw and that someone can attack the network and cause a double spend.  He said it was posted on Reddit.  But I can't find it anywhere.  Is this true?  If so can someone post the link?  ty

If such a flaw existed the price/value of Burst would have collapsed. As it has not, I doubt the flaw exists, but feel free to get your friend to post the proof of attack here.

A friend of mine mentioned that Vitalik Buterin of Ethereum said that POC has a flaw and that someone can attack the network and cause a double spend.  He said it was posted on Reddit.  But I can't find it anywhere.  Is this true?  If so can someone post the link?  ty

Thanks for the request. I just reached out to burstcoin.eu in regards to an API that cryptoglance can use. I'll let you know what the response is from those developers.

Sorry. can't find them now, but my posts of those cards is somewhere in https://burstforum.com/index.php?threads/gpu-plot-generator.45/page-17. If I use three cards on one rig, I get quite decent speed.

Mate, our assets will push Burst's price UP. We don't want to dump! Of the 5k Burst per asset that we get with ByteBank, only a percentage of it will be traded with. If we see that Burst is going hard out up, we will quite likely just hold and cover the 2%. Another month we may end up seeing Burst is gonna drop hard, so we may see 30% of ByteBank and buy it up again. Every single Burst we sell we  will buy back more. Oh, and we pref to use buy and sell orders, so we're ctually just providing liquidity!

Has anyone ever been able to get a GTX 750 TI to plot? If so. Please tell me how.

Thanks

So the new thing with AT assets is to fund other miners?

Just a FYI, these assets are simply being used to increase hashing power on the network, which of course decreases your income if you're currently mining, and since the price is essentially being held by people holding rather then selling, the price will drop.

It'd be different if you guys were playing a different market besides Burst. Playing the market is the same as shitting where you sleep. Do it some where else. People generally want Burst to rise and that's best for Burst, eating any amount of rise out of the market doesn't help it, it just helps the downtrend of dumps.

You know, something like Burst Long Term Price Support before that fell apart...

Crow said in another post that he will maintain a buy wall to buy back the asset at the original price. If you don't think the asset is performing the way you'd like, sell it back to him at any time.

H.