Topic: [ANNOUNCE] RuCoin - Russian alternate cryptocurrency - exchange is up already! - page 3. (Read 34429 times)

Hmm grep does find one mention of it in main src dir:

grep scrypt *
crypter.h:which may require more parameters (such as scrypt).
crypter.h:    // 1 = scrypt()
crypter.h:    // such as the various parameters to scrypt

-MarkM-

EDIT: I looked at the mining code, it definitely only does the normal old bitcoin style mining, no scrypt.

-MarkM-

According to the website, source is here. I haven't tried it but the source does include scrypt stuff so I'm assuming it's a recent version. Can anyone confirm?

Are you saying RUCoin keeps making coins forever like devcoin and groupcoin, instead of lowering the minting over time until it eventually stops making new coins so only a fixed known in advance total will ever exist?

One thing I don't like about RUCoin is if they can one day arbitrarily paste scrypt in on top of the original plain old bitcoin style hashing they might as easily one day decide to create another couple of million coins for themselves in some special hard-coded block, or change the total coins that will ever exist, or basically screw with it any way they choose... Solidcoin comes to mind for good reason.

-MarkM-

As long as the RUC chain still continues so will the coin.

There is not one coin out there that I can say I hate, maybe Solidcoin but that is only because RealSolid disappeared with a lot of peoples invested Bitcoins.

The difference with Solidcoin being removed from trading on BTC-E is that it died a complete death and even the chain stopped.

About half an hour ago the Dev's for Rucoin pushed out another client update, which shows they are still working on it and that's it far from "Dead".

Every single coin, including Bitcoin, is only "worth" something because the general masses have deemed it to be so, the more people that want something, the higher they are willing to pay, which means Bitcoin in theory has no currency ceiling until it gets to the point where everyone has to deal in decimal points and not actual whole Bitcoins for purchases.

Even though BTC-E has the trading link for RUC not openly visible means that Rucoin is still "worth" something, meaning at least some people want it.

With regards to pre mining, even if you mine a few million coins, is nothing compared to the amount of coins that can be mined given enough time.

the linux download contains either a x86 or x64 rucoind.
its a russian software, binary only. so most likely a trojan horse who includes proxys/sniffing/ecetera, even if you run it as own user it can hurt u. Using a VM for a malicious/suspicious software is de facto standard. if one of ur librarys/daemons are vulnerable, it can takeover your whole machine and access wallet.dat of course!

https://btc-e.com/news/67

"Dear participants of the exchange BTC-e.com In view of the minimal volume of currencies pairs RUC/USD and the SC/USD from April 15 trades with them will be closed. https://btc-e.com/exchange/sc_usd SC/USD https://btc-e.com/exchange/ruc_usd RUC/USD"

^ Doesn't this just make you want to invest your life savings into RUC? 

who summarized the benefiits of RUC in one post?

Unfortunately there are haters for *EVERY* coin here.

I'm actually kinda impressed at the client and the sha+scrypt. I must say I'm super leery about premine. You could argue that does or does not make a difference, but I prefer fair/advance warning.
I'm also a bit skeptical of it being a 'hidden' exchange at BTC and the really high level of integration of the client with BTC-e. Is it BTC-e's own coin? If so- they should say so. Having a hidden exchange gives you the feeling that special set of people have been allowed to "buy in early". It's weird. Also- imagine if MtGox had actually made Bitcoin, would you really feel comfortable sending them Bank transfers to "buy" bitcoin from them?

Food for thought. For the record, I'm not a hater. :-)

So you have to install some specific version of some specific flavour of linux into a virtual machine in order to get it to run?

Where do you even get it itself? Does it include a whole VM image with all the right versions of all the dependencies or something like that?

I have to compile all the coin types myself because I use Fedora, and Fedora does not include elliptic crypto in its openssl, so I have to make a custom version of openssl that I compile specially to provide the elliptic curve stuff. Installing a virtualisation system and running a virtual machine seems like overkill security, how likely is it that running it as user "ruc" with no access to other usernames' blockchains and wallets could give it access to other coins' wallets?

-MarkM-

+1 I'm with crazy_rabbit on this...

Why so many haters in here for Rucoin? The client offers different and impressive features and for the first time offers a system to reduce 51% attacks.

Seems like a very stable and secure coin.

If you can read Russian, you will know that there main goal with this coin is for it to be stable and not it being about how much it might be "worth".

Bitcoin is "worth" a lot right now but it is not stable from a trading point of view at all.

I mean, very cool idea with the 2 algos. But it's a pump and dump clear through. Maybe not dump as in kill-it-dump but there is an enormous premine that is just waiting to pick up the BTC of the naive.

LOL right have you tested this pile of rubbish for 51% attack? Nope. Oh and can you paste the code that shows how this new "client" saves us all from 51% attack?

Pretty pictures hmm where have I seen that....oh right....look the pretty pictures that used to be at this link are gone:

https://bitcointalksearch.org/topic/get-ready-for-microcash-the-most-advanced-crypto-based-currency-yet-77606

No one cares if the client has exchange data built into it. The foundation of the start of this pile of rubbish was that a "community player" decided to start a new chain in October 2011 and premine the fuck out of it for several weeks. Then give access to people slowly and have them mine it. Then dump the shit on the btc-e exchange which used to be listed on their site (currently a hidden link).

If there is one thing that the alt coin community has shown is the distaste for premined bullshit alt chains.

They use the separate algo's to protect the pool from >51% attack (see my last post with the pretty pictures, luke-jr couldn't kill this chain if he tried) making it the ONLY chain safe from >51% and with separate difficulties cpu AND gpu miners have equal opportunity at finding every block.

Thanks for playing have a nice day...


In other news, they updated the client and you can now buy/sell your RUC/BTC straight from the client.

Wow so they took a pumped and dumped premined coin and put a chat feature into it as well as allow you to do Scrypt and SHA256 mining.

Hmm Scrypt uses SHA256  and oh why have two mining algorithms? Why not just mine SHA256 because it is less memory intensive?

And all those premined coins....yeah...fuck that shit. 

this is only correct for winblows users.

Also allow me to point out that RuCoin has built in defense features as evidenced here:



and here it is a different type of defensive state in a screencap from yesterday:

Whether they pre-mined or not, I ENJOY mining this coin. I can't really say that about any other coin.

They didn't stop supporting it, it seems to me that they have been working on it and improving it.

A pre-mine is meaningless to me, especially for a coin which already came out a couple years ago and is being revived. Since it came out a couple years ago, the pre-mined coins have probably already been sold off or mostly sold off which means the coins are somewhere in the network which as an end user means to me that it is no different than joining Bitcoin 3 years after it's development like I and many people in these forums have already done.

Yes, Satoshi and his friends were the originators and they deserve the earnings from their "pre-mine" but I think RuCoin is an excellent creation of it's own which has set itself aside as distinctly different from bitcoin in my mind and I'm not going to stop using it just because you don't think it's fair that you didn't have a chance to be an earliest adopter...

And remind me when did BTC get pumped/dumped then stop being supported for ages?

I can get BTC-E chat and trade stats from the BTC-E site without supporting the 2nd run of a pump-and-dump scam currency.

There's a difference between mining coins over a few years of developing the software from scratch (having invented the implementation in the first place) and awarding yourself a huge chunk of coins in the genesis block of a copy.

But no problem - so long as everyone remembers what happened last time: massive dump followed by the currency basically vanishing for ages.  Just don't get caught actually holding them this time - sell them as you mine them.

As the saying gos:

Fool me once - shame on you.  Fool me twice - shame on me.

Plenty of fools around here, unfortunately - who will fall for the same thing multiple times even if run by the same person/group.

Because it offers sha256d AND scrypt mining with separate difficulties depending on the hashrate of the networks for each algo offering a level playing field for cpu AND gpu miners, it has chat built right into the client, has the btc-e chat box built into the client, btc-e trade stats built into the client, network stats inside the client GUI. It has features that make it appealing.

Pre-mined...? So what...? Bitcoin was in it's third year by the time I found it, people had already mined the f*** out of it, I couldn't even mine a single coin per day, yet here I am mining away on Bitcoin which was never publicly announced before it's release and which openly admits in it's own wiki that Satoshi and his friends were using the program amongst themselves before thy ever thought to share it with the world. What does that mean...?

Yup... PRE-MINE...


Redundant... See answer above.


There's plenty of programs that we all use on a daily basis which we have never seen the source code for because it is simply not available, not every software in the world is open-source and just because it's not open-source doesn't mean it's malicious.

Make back-ups like your supposed to, store your coins in off-line wallets, run A/V software, anti-malware software and maintain your computer like your supposed to then even if something does turn out to be a virus the effects will be null to minimal.