Topic: [ANN][MAX] MAXcoin - PoW, ASIC Resistance, Keccak GPU Mining - page 513. (Read 914495 times)

No. Think of it as a lottery. Miners will try to guess the correct number. You can buy 5 tickets with your 5GHz cpu, and 1 ticket with a 1 GHz cpu. 5 tickets will win far less than 100 tickets.

So like I said.  The bonnet gains money because its getting a share from a large total hash.  Whereas solo mining a few good high end cpu's will always win.

Think about a gpu farm.  2 setups.

- 1 Machine with 6 gpu's
- 6 Machines with 1 gpu

The single machine with 6 gpu's will win the majority of blocks because the workload is shared between 6 gpu's whereas on the single gpu machines all 6 of them are working against each other.

And all of this means it is no different to any other coin mining.  The boy with the single gpu mining in a pool against someone with 80 gnu farm or the guy with 2 333mhs asic's against the company with 1ths asic's

The Botnet operators deploy their own modified version of CPUminer, they do not deploy wallets, the CPUminer just connects to a pool of their choosing, they are not solomining on their bots.

All this talk of botnets have got me thinking though.  As a software engineer with 27 years behind me and vast experience of writing network software I am wondering how good botnets actually are when it comes to cpu mining solo.  In a pool I can see how botnets would gain a vast amount of hashing power but solo mining is a completely different thing.

First off think about the cpu's that the bonnet will have control off.  The chances are the majority of the cpu's will be low end.  Laptops,  People who are not computer literate enough to protect their machines.  The chances of a botnet having control of a high end gaming rig are low.  Even if they did the chances are that gaming rig will only be on when the person is gaming so the performance for mining will be low because the cpu is in use gaming.

Now think about a botnet of 100 cup's.  Lets go by my previous assumption that those cpu's are low power. Think about how the network will work.  Effectively the botnet is like a pool.  Each of those controlled cpu's mining.  Now think about my i7 running at 4.3ghz.  The chances are my i7 is going to find more blocks than a 100 1 ghz cpu's.  The reason is each of those 100 cpu's are all going to be trying to do a calculation and my i7 is faster so it will find it quicker.

Think about 100m race.  if you put Usain Bolt against 100,000 one legged dwarfs then there is still going to be only one winner.

Now I might be completely wrong as I have not read up on how the actually mining and network for crypto coins work but I am sure as hell that it does not share the work equally between all cpu's in a botnet to find the solution quicker.

NOBODY can argue with that one.

I do not. This is just my personal opinion. It becomes impossible to determine who steals what, so we end up blocking far more users than the isolated few who own botnets when we give into fears over mining centralisation (when in fact the opposite ends up happening).

Plenty of people rely on cloud hashing because electricity is too expensive where they live.

yeah right , criminals that steal resources have a rightful place in the cryptocurrency community, honest thieves huh   let me take a wild guess, you own a botnet?

Coin is not rushed out because this is how the marketing campaign is structured - well done, let's hope the botnets will not outperform real people who believe in crypto future.

All this talk about botnets but I think people are underestimating the dev teams ability and knowledge.  The team behind this coin are not just teenagers with enough cash to use one of these online generation sites.  They are actual graduates in IT and they are Crypto enthusiasts.  They are not just a few people out to make a quick quid here and there.

Personally I have faith in what they are doing.  Anyone with enough understanding of Software engineering and the crypto market would not just flippantly release a cpu coin if they knew it could easily be controlled by a botnet.

On top of all of that why not use your brain for a second.  Was this coin rushed out?  No and why is that?  Possibly because time and effort has been put into it to make sure it is right.  Rather than just sitting there spurting drivel why not just for once allow your glass to be half full rather than half empty.

Have a bit of faith guys.

None. This Coin is a Copperlark-clone so the Copperlark-guys allready have 245 Ph/s Keccak hashingpower. The dicusion is pretty stupid here. Anyone with a big enough GPU-rig can solo-mine  this coin. All you shreekers complaining about this coin being "raped by botnets" are funny. Thats the whole point of Proof of work.
Maxcoinproject cant ban GPUs from mining this coin they just can prevent small GPU-miners from participating. The large Keccak-GPU-Pools will outperform any botnet.

If it ends up being a CPU only coin, then yeah buying is definitly better

Actually, a botnet uses stolen hashpower and can't be competed with. They can mine at a huge loss because they don't have to pay for electricity anyway, all they have to pay for is the rent of the botfarm ( yeah, they are for rent )

Another problem with CPU only mining is people who abuse cloudhosting. Most hosters now have it in their terms of service that you can't mine crypto on them, because their systems are simply not build for it. They can't handle the load. But people do it anyway, until they are caught.

Two big reasons not to go for CPU only. No good reasons to NOT go for GPU's in my opinion. I mean ; most people have at least one GPU, right ?

Launch with a wallet without API, but that has the ability to connect to a pool, no dedicated miner, pools allow max 1 connections per account => no botnets, huge cpu farms will be slow to set up, fair launch.

But that would require too much effort from the dev team. Maybe some coin, some day will do that?

how much money would i be able to earn by just mining this with cpu??

i think it might be better to just buy them straight away

A word of advice to the organisers of this project. I know it's not easy to keep everyone happy, but you can't allow a fear to regulate last minute decisions. You've made your decisions in good faith and reason, and you've communicated those outcomes to your audience, now you need to stick to your guns, come hell or high water.

There is no real substantial evidence that the fears of botnet mining are real. In fact, in the past, botnet operators have been honest about mining. Botnet operators have as much place in the cryptocurrency community as anyone, because they, just like anyone else who mines do the network a service by securing it. The network does not discriminate in this way, and neither should it. Any botnet operator will participate in the cryptocurrency economy if it is worthwhile.

The fact of the matter is this: CPU mining is the only true decentralised way we know of to distribute a coin as fairly as possible because anyone with a CPU can mine, and almost everyone has access to a CPU, whereas not everyone has access to a GPU. Don't screw the people who supported you up to this point and then end up locking them out of participating because of botnet fears (you'll just trade the fear of CPU centralisation for the reality of GPU centralisation). Where have we seen that kind of logic before?

Just my 2¢. No hate required.

Most likely they were not mining bitcoins anymore, but other alt-coins, so earnings would be much higher

Its hard to believe those numbers about it using 200 times more USD electricity than it earns.  I'm guessing is more like 20 to 50 times.

Any News on the GPU miner ? the dev offered a bounty for a GPU miner in the OP, anyone made one already ?

without a GPU miner this will be botnet coin, it will be my 5 CPU's  against a 100.000 CPU botnet. ( the largest botnet in 2013 zeroaccess had 1.9 million CPU's)  no thank you

Ahaha. +1

I will mine this and dump in 24h.