i <3 btc and bacon, and hate being treated like a mushroom......
I have no idea what this means but I did buy some EMC2 and so I hope we get some good updates soon.
I too love Bitcoin and bacon, however. lol.
Good luck!
Topic: [ANN][EMC2] Einsteinium | FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY - page 295. (Read 1076368 times)
August 17, 2014, 12:31:11 AM
I have no idea what this means but I did buy some EMC2 and so I hope we get some good updates soon.
I too love Bitcoin and bacon, however. lol.
Good luck!
August 16, 2014, 04:36:20 AM
i <3 btc and bacon, and hate being treated like a mushroom......
August 15, 2014, 01:54:33 AM
I <3 CureCoin. We are currently in talks.
August 14, 2014, 11:45:50 AM
There's a few things happening and I want to be 100% clear before I fill you guys in on the next steps. I'm not trying to be mysterious, but this is a fragile time for the coin and things need to be done right. I'm really trying to do something for this project, it's been a battle.
Take the time to do things right, don't rush just because some people want things to happen when they say they want it.
August 14, 2014, 10:32:17 AM
There's a few things happening and I want to be 100% clear before I fill you guys in on the next steps. I'm not trying to be mysterious, but this is a fragile time for the coin and things need to be done right. I'm really trying to do something for this project, it's been a battle.
And we greatly appreciate your efforts. Patience is the key, thank you!
August 14, 2014, 01:36:38 AM
There's a few things happening and I want to be 100% clear before I fill you guys in on the next steps. I'm not trying to be mysterious, but this is a fragile time for the coin and things need to be done right. I'm really trying to do something for this project, it's been a battle.
August 12, 2014, 04:59:31 AM
another 10 days then.....
August 10, 2014, 03:26:22 PM
I'm here guys, just busy working extra hours and haven't had much time to come on here much in the last few days. Just a quick update. Relative is overseas but still working on the PoS switch. He will make an appearance here very soon regarding details on that. He said the coding is going smoothly and he has been processing PoW blocks for the change over.
I'd like to see more positive community interaction in the form of beneficial ideas for EMC2. Also, anyone willing to take on a bigger part in the coin should contact me immediately. I'm not leaving the coin but I am quite busy and pressed for time. We will start need financial donations to hire a bigger team or we need people to step forward and offer their skills for the benefit of our mission. Switching to PoS is the start that will restore confidence in the coin, the next steps will require more hands on deck.
I'm actually at work as I'm writing this. Please let me know if you have any questions directly and I will reply. Thanks guys.
- Ryan
I'd like to see more positive community interaction in the form of beneficial ideas for EMC2. Also, anyone willing to take on a bigger part in the coin should contact me immediately. I'm not leaving the coin but I am quite busy and pressed for time. We will start need financial donations to hire a bigger team or we need people to step forward and offer their skills for the benefit of our mission. Switching to PoS is the start that will restore confidence in the coin, the next steps will require more hands on deck.
I'm actually at work as I'm writing this. Please let me know if you have any questions directly and I will reply. Thanks guys.
- Ryan
August 10, 2014, 07:10:26 AM
so wheres ryan??? wheres this ride we have to get ready for??? just more hot air, looks like others where right..............
August 09, 2014, 05:35:29 PM
whos thread??......threads dead baby....
August 09, 2014, 12:45:48 PM
If anyone here needs some help with their altcoin trading, you can check out the link in my signature, it's a program that may appeal to a few of you.
Good luck fellow einsteinimites!
lol, quite happy you left EMC2. Garbage out. Good luck fellow einsteinimites!
August 09, 2014, 10:18:04 AM
hahahahaha no thanks
August 09, 2014, 08:05:53 AM
If anyone here needs some help with their altcoin trading, you can check out the link in my signature, it's a program that may appeal to a few of you.
Good luck fellow einsteinimites!
Good luck fellow einsteinimites!
August 09, 2014, 08:03:28 AM
August 09, 2014, 04:50:16 AM
Is the new code almost ready? It's been one day shy of week. Any updates?
doesnt look like it, if we do hear anything, will probly be another 10 days........
August 08, 2014, 12:06:26 PM
Is the new code almost ready? It's been one day shy of week. Any updates?
August 08, 2014, 10:52:31 AM
so whats going on then.....
August 07, 2014, 06:47:54 AM
please see my responses in bold italic.
There's a few issues about PoW which are not clear to me, it would be nice if someone would answer these few questions that I have, since EMC2 is apparently going the way of PoW without any prior deep technical analysis.
1. In a PoW network, transactions are confirmed by peers, who get rewarded for that - this is why they mine. Which convenience have peers in a PoS network to keep their wallets all time open, so that they can confirm transactions? (I understand that for a PoS to work wallets don't need to run all the time, maybe I'm wrong)
PoS uses a system called Staking... you keep your wallet open and stake coins in order to get some revenue. Open wallets with staked coins are the only ones that can generate blocks, ie confirm transactions.
2. What happens to transactions in a little community as the Einsteinium community is at the moment, if only very few peer or even nobody have their wallets running? How would it be possible to confirm transactions? Wouldn't the system collapse in the absence of enough peers?
the rewards given via the staking process ensure that enough wallets are open to confirm all transactions and keep the network humming along.
3. If there are only few peers with an open wallet in a little PoS network like Einsteinium would be, wouldn't that allow some sort of 51% attack become possible for some with a big stake?
yes
In a PoS system 51% attacks can only be conducted by someone who has 51% of the staked coins. (not 51% of the nodes)
as the Mintpal Vericoin wallet hack which almost brought down mintpal and vericoin has proven, an attacker does not need to buy 51% of the coins to pose a real security risk... they need only buy, borrow or steal 30% for it to become a major threat to the network. This is because so many coins are being held on exchanges and thus are not being staked.
4. We are obviously unhappy with the fact that the Einsteinium community has not being growing as fast as we would like, but since most of EMC2 coins have not been created yet and by going PoS the only way to create coins would be to already have some, would this not EVEN MORE slow down the growth of our community? After all, in the absence of any large scale adoption and thus practical use of a coin people who like to mine that coin are probably still many more than people who like to buy it. And if the community does not grow, how do we expect the value of EMC2 to rise? I'm mentioning this in support of my preference of a time-limited mixed PoW/PoS system as to ensure a smoother and safer transition to PoS.
PoS systems by their nature have much slower adoption rates than PoW because you can't simply get some coins by mining. If you want coins then you have to pay, work or beg for them. Traditionally to try and offset this, major stake holders give away coins in order try to get a wider distribution. how this will work with EMC2 where the major stake holders are unknown is anyone's guess
Evrybody is invited to answer to these questions of mine, of course in the interest of us all.
1. In a PoW network, transactions are confirmed by peers, who get rewarded for that - this is why they mine. Which convenience have peers in a PoS network to keep their wallets all time open, so that they can confirm transactions? (I understand that for a PoS to work wallets don't need to run all the time, maybe I'm wrong)
PoS uses a system called Staking... you keep your wallet open and stake coins in order to get some revenue. Open wallets with staked coins are the only ones that can generate blocks, ie confirm transactions.
2. What happens to transactions in a little community as the Einsteinium community is at the moment, if only very few peer or even nobody have their wallets running? How would it be possible to confirm transactions? Wouldn't the system collapse in the absence of enough peers?
the rewards given via the staking process ensure that enough wallets are open to confirm all transactions and keep the network humming along.
3. If there are only few peers with an open wallet in a little PoS network like Einsteinium would be, wouldn't that allow some sort of 51% attack become possible for some with a big stake?
yes
In a PoS system 51% attacks can only be conducted by someone who has 51% of the staked coins. (not 51% of the nodes)
as the Mintpal Vericoin wallet hack which almost brought down mintpal and vericoin has proven, an attacker does not need to buy 51% of the coins to pose a real security risk... they need only buy, borrow or steal 30% for it to become a major threat to the network. This is because so many coins are being held on exchanges and thus are not being staked.
4. We are obviously unhappy with the fact that the Einsteinium community has not being growing as fast as we would like, but since most of EMC2 coins have not been created yet and by going PoS the only way to create coins would be to already have some, would this not EVEN MORE slow down the growth of our community? After all, in the absence of any large scale adoption and thus practical use of a coin people who like to mine that coin are probably still many more than people who like to buy it. And if the community does not grow, how do we expect the value of EMC2 to rise? I'm mentioning this in support of my preference of a time-limited mixed PoW/PoS system as to ensure a smoother and safer transition to PoS.
PoS systems by their nature have much slower adoption rates than PoW because you can't simply get some coins by mining. If you want coins then you have to pay, work or beg for them. Traditionally to try and offset this, major stake holders give away coins in order try to get a wider distribution. how this will work with EMC2 where the major stake holders are unknown is anyone's guess
Evrybody is invited to answer to these questions of mine, of course in the interest of us all.
August 07, 2014, 06:41:30 AM
Hello,
I've been mining EMC2 on and off for a while now. I haven't been active in the community though. From what I have seen there are probably a lot more people like me that mine and read the thread, just are not active. So not having any wallets online seems unlikely so transactions in a POS switch would not a problem. I know if we switch to POS I would leave my wallet open 24/7.
I did vote to go to a POS system, and I am very grateful to ahumanbeingx for paying the 1.5 btc to make it happen. Howerver; I didn't think it would happen so quickly after the money was raised, as you were saying it would. I think it was 7 days. So thus the switch would be in a couple of days. I'm sorry I did not catch this sooner, I am over a week behind on several threads I follow. I would prefer either a hybrid POW/POS eventually switching to full POS as was suggested in a couple posts already, or delay the starting of the POS, but promote that it will be switching by a specific date, but longer than a week, and people better get mining and buying. I feel this would give more people time to get invested in EMC2. There are probably people sitting on the sidelines waiting for news and thinking they have years left to mine. Just the fact of the generosity of ahumanbeingx is good news and showing the coin has a brighter future!
I have always liked this coin and it's mission to fund science and plan to try and support it in any way I can. I did switch all my scrypt asics over to mine it recently, there all small ones, but really need to try and get as much as I can if the switch is going to happen in a couple days. If this timeframe has already changed, sorry like I said trying to catch up
Have a Great Day!
I've been mining EMC2 on and off for a while now. I haven't been active in the community though. From what I have seen there are probably a lot more people like me that mine and read the thread, just are not active. So not having any wallets online seems unlikely so transactions in a POS switch would not a problem. I know if we switch to POS I would leave my wallet open 24/7.
I did vote to go to a POS system, and I am very grateful to ahumanbeingx for paying the 1.5 btc to make it happen. Howerver; I didn't think it would happen so quickly after the money was raised, as you were saying it would. I think it was 7 days. So thus the switch would be in a couple of days. I'm sorry I did not catch this sooner, I am over a week behind on several threads I follow. I would prefer either a hybrid POW/POS eventually switching to full POS as was suggested in a couple posts already, or delay the starting of the POS, but promote that it will be switching by a specific date, but longer than a week, and people better get mining and buying. I feel this would give more people time to get invested in EMC2. There are probably people sitting on the sidelines waiting for news and thinking they have years left to mine. Just the fact of the generosity of ahumanbeingx is good news and showing the coin has a brighter future!
I have always liked this coin and it's mission to fund science and plan to try and support it in any way I can. I did switch all my scrypt asics over to mine it recently, there all small ones, but really need to try and get as much as I can if the switch is going to happen in a couple days. If this timeframe has already changed, sorry like I said trying to catch up
Have a Great Day!
August 07, 2014, 05:53:16 AM
There's a few issues about PoW which are not clear to me, it would be nice if someone would answer these few questions that I have, since EMC2 is apparently going the way of PoW without any prior deep technical analysis.
1. In a PoW network, transactions are confirmed by peers, who get rewarded for that - this is why they mine. Which convenience have peers in a PoS network to keep their wallets all time open, so that they can confirm transactions? (I understand that for a PoS to work wallets don't need to run all the time, maybe I'm wrong)
2. What happens to transactions in a little community as the Einsteinium community is at the moment, if only very few peer or even nobody have their wallets running? How would it be possible to confirm transactions? Wouldn't the system collapse in the absence of enough peers?
3. If there are only few peers with an open wallet in a little PoS network like Einsteinium would be, wouldn't that allow some sort of 51% attack become possible for some with a big stake?
4. We are obviously unhappy with the fact that the Einsteinium community has not being growing as fast as we would like, but since most of EMC2 coins have not been created yet and by going PoS the only way to create coins would be to already have some, would this not EVEN MORE slow down the growth of our community? After all, in the absence of any large scale adoption and thus practical use of a coin people who like to mine that coin are probably still many more than people who like to buy it. And if the community does not grow, how do we expect the value of EMC2 to rise? I'm mentioning this in support of my preference of a time-limited mixed PoW/PoS system as to ensure a smoother and safer transition to PoS.
Evrybody is invited to answer to these questions of mine, of course in the interest of us all.
1. In a PoW network, transactions are confirmed by peers, who get rewarded for that - this is why they mine. Which convenience have peers in a PoS network to keep their wallets all time open, so that they can confirm transactions? (I understand that for a PoS to work wallets don't need to run all the time, maybe I'm wrong)
2. What happens to transactions in a little community as the Einsteinium community is at the moment, if only very few peer or even nobody have their wallets running? How would it be possible to confirm transactions? Wouldn't the system collapse in the absence of enough peers?
3. If there are only few peers with an open wallet in a little PoS network like Einsteinium would be, wouldn't that allow some sort of 51% attack become possible for some with a big stake?
4. We are obviously unhappy with the fact that the Einsteinium community has not being growing as fast as we would like, but since most of EMC2 coins have not been created yet and by going PoS the only way to create coins would be to already have some, would this not EVEN MORE slow down the growth of our community? After all, in the absence of any large scale adoption and thus practical use of a coin people who like to mine that coin are probably still many more than people who like to buy it. And if the community does not grow, how do we expect the value of EMC2 to rise? I'm mentioning this in support of my preference of a time-limited mixed PoW/PoS system as to ensure a smoother and safer transition to PoS.
Evrybody is invited to answer to these questions of mine, of course in the interest of us all.
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