Topic: [ANN][VOT]: VoteCoin - a new era of anonymous crypto democracy - page 23. (Read 78590 times)

I think it would be very interesting if the community decided through voting the possibility of maintaining anti-asicc voting. In order to demonstrate that voting works. In addition, if the asics are rejected, the community would grow creating a greater diversity of miners and improving the distribution of currency. And being the first to reject asicc using equihash could increase the credibility and value of this currency.

"The Zcash Foundation has announced that it will make maintaining ASIC resistance an “immediate technical priority” in response to Chinese mining hardware manufacturer Bitmain’s claim that is has developed an application-specific integrated circuit (ASIC) miner that is compatible with the Equihash mining algorithm."
https://www.ccn.com/zcash-foundation-to-make-asic-resistance-immediate-technical-priority/
BTCZ, Snowgem, Bitcoin Gold, Bitcoin Private, possibly Hush, Zencash want to change algorithm. 

Still thinking about staying on equihash?

Most of the above is absolutely true, you clearly conveyed the idea that I wanted to convey

Seems funny that all the community can't get to a point on the algorithm....
Make it easy guys just try to figure out if the Dev is hearing the community or vice versa
We just use the coin as it is, here we are talking for no reason let's make Tom start a poll and the community will decide as long with the dev
Asic coin Vs gpu coin,  I guess everyone have this in mind when we get and use VOTECOIN.

Hope for a better future of home mining and owning of votecoin

Hello all, I bring a little fun into your serious discussion

Hockey bets (IIHF Wold Championship)
https://votecoin.bet/hockey/iihf.html

Good luck!

That is actually good news as I left with impression that you kinda would struggle to change the algo and therefore piggytailing on ZEC.


It's more than just 4x hashing power. It is 10x less power consumption. 10x time less heat and therefore 10x less heat extraction. also quite a space saver too. ASICs have lots of advantages against GPUs, but lets leave ASIC advantages alone and look on community itself.
I see @Skydreamer points/worries. Ordinal miners or just curious people have an option to try and mine VOT and have a play and test it. Somebody with just a single GPU can get involved in VOT.
If VOT becomes ASIC driven then you lose out those people and community - running ASIC is a business so if VOT is more of a business project then that's ok, just say it . People would like to know what to do, to leave VOT community or in contrary, join it with ASIC power . What direction are we going?
There are some thoughts for you Tom: if you make it ASIC resistant then lots of miners may soon join you. If you do not make it ASIC resistant then ASIC farms will join and so part of community may leave. I am not sure which route is best though. Maybe the best one is the one you are doing - just wait and see , but some may hate such waiting games. There is no way you can please us all .

Yes, of course, I have the abilities to change the algo myself.
To make my life easier, I could even wait for some other project based on Zcash to change the algo, and then backport their changes.
But simply following zcash's direction is easiest (and in my opinion most correct) approach.
Those ASIC machines released by Bitmain are in no way comparable to the power of bitcoin's ASICs, Z9 provides only ~4x advantage over GPUs, so I do not really understand why are people so overreacting.
-Tom

The concept of the project is very good, and also meets the actual needs of future development, and the future is full of potential.

Tom, not to lead a long dialogue, answer a simple question. Do you have the ability to change the algorithm yourself? Yes or no? As I understand you do not have such a technical opportunity, so why then all this to discuss, just admit it, and that you are completely dependent on the network Zcash.
As I said before Zcash does not care, because its 2,
5 coins from each block they already get. Votecoin in the first place became famous thanks to miners, who spread the information about your coin. Asic for the average user is a high-risk device. Profitability falls quickly and it becomes worthless. Everything will come to the conclusion that Votecoin will produce large factories and huge farms,
and the community you lose, I guarantee you, there are lots of examples. You are not zcash, ethereum, siacoin, and others who can calmly take it, for all have long been known and have a great capitalization.

Asics are in the majority large factories and not thousands of people with their graphic cards

I do not agree with your conclusions.
Bitmain will not "absorb whole algorithm".
If bitmain's Z9 miners are successfull and if all ordinary users switch to Z9 miners instead of GPU, then the entire network will be mined with Z9. But that means nothing wrong. It has nothing to do with Bitmain company, they will not absorb anything. Each user will choose his preferred pool.

From what I've read so far in emails and facebook messages and other posts, it looks like people freak out about the upcoming ASICs, it looks like the majority of people think it is very big problem, while I do not share this negative attitude, really, there is no need to be afraid of ASICs in my opinion.

The problem is not at all in this. The fact is that the company Bitmain (manufacturer AsicS - supports for the door, hair dryer, heater) just gets rid of used Asics, to sell greedy idiots who want easy money and who eventually lose their money by buying a large calculator that quickly losing profitability.
In place of old Asics new more powerful ones will come and if you do not change the algorithm (and I understand why - you use their ZEC network (hello t1) and do what they do? But the greedy Zcash team gets 2.5 coins from each block all the same, even better.
And what's the benefit to you? Do you know what will happen in the end? Bitmain with its ASICs will absorb the whole algorithm, all ordinary users will leave you. And you will have one member named Bitmain (hello Bitcoin, Bitcoin Cash, Dash). Electroneum for this reason decided to hold a hard fork for began to lose its community.
I, as a holder of Votecoin, are not indifferent to the fate of the coin. So I advise you to think over my words Tom.

Sorry for my English, I write this with Google translate

Have they answered? It's very interesting

We've already applied to get listed on Bitfinex.

Thanks for your suggestion.
Application submitted.

We should try go get listed on bitfinex like BitcoinInterest... They was only on TS and next was Bitfinex, so maybe it's a chance have some liquidity

Tom, thanks for the detailed clarification. Much appreciated. Now it's clearer picture (at least for me)

I know nothing about IntenseCoin internals. What I was able to learn from the article is this:
1) somebody gained significant hashing power and at the same time he exploited some weakness in IntenseCoin to find 6000 blocks himself.
2) IntenseCoin developers decided that this is bad and they made a hard fork, causing A LOT of troubles.

I believe that there are two problems. First one is the exploitable weakness, and second trouble is mad developers making hard fork as a solution for this problem.

If the very same problem happened with VoteCoin, 6000 blocks would be worth 750K VOT coins, which the "attacker" could actually sell at TradeSatoshi exchange to get 1.33 BTC.
The price of VOT would drop down to 100 sat. But that's the worst case scenario. Nobody gets hurt. All coins held by all users would be safe. There would be no need for any hard forking in my opinion.

VoteCoin uses a dificulty adjustment algorithm based on DigiShield v3/v4 [DigiByte-PoW], with simplifications and altered parameters, to adjust difficulty to target the desired 2.5-minute block time. Unlike Bitcoin, the difficulty adjustment occurs after every block. So I would say that VoteCoin does not have such weakness as like IntenseCoin and it would prevent such situation anyway.

There is no need to fear the upcoming ASIC release...

-Tom

Tom, with all respect, but IntenseCoin network had 51% attack just 2 weeks ago: https://intensecoin.com/2018/04/16/imminent-hard-fork-and-network-attack/
They ended up rolling back their blockchain and then forking it again! Another real mess with out-of-sync wallets for weeks and lockedown exchanges.

51% attacks are not that rare - I bet VOT community would like to know that you have the backup plan ready if sh*t happens. Better to learn on somebody's mistakes than on yourself ones.

Oh, there is another option for betting guys
- Community likes to know if the backup plan is in place
- Community pays no sh*t to it

And one more could be:
- VOT will get the backup plan
- Tom pays no sh*t to it


Just rising some concerns ;-j and worries about blockchain to which I am not indifferent.
Tom, do I worry too much? Shall we relax and just watch how sh*t passes us by and hope(pray to saint Alt-Ctrl-Del?) that it will not stick to VOT?

Well, I just stated what I read on bitmain's official announcement:
"to prevent hoarding and to let more individuals worldwide get one, we've set a limit of one miner per user"
https://twitter.com/BITMAINtech/status/992034662875779072



Maybe you are confusing VoteCoin with bitcoinz. VoteCoin is indeed decentralized, but we do not stress our marketing on the "decentralization" idea. Instead, we implement features useful for voting.



You are spreading fear without understanding the reality at all. There are NO new attacks possibilities when ASIC comes into play. As I explained earlier, if you wish so spend money buying ASICs from bitmain to get 500 KSol/s hashrate (to gain 50% of VoteCoin network hashrate, which itself means nothing bad in general), you would need to spend around 110 000 USD. Nonetheless, you can go to nicehash.com today and purchase equihash hashing power of 500 Ksol/s for 24 hours for only $1955 as of now. All the "apocalyptic scenarios" you are talking about could already happen now, for cheap, regardless of ASIC. So please ...

-Tom

Asic are more green consuming less power the progress is inevitable,  me as a miner trusting on my machine to confirm and secure the net I'm just leaving this project and all the equihash and cryptonight algo.
For the point of votecoin they can't do too much creating a fresh algo wold be too much work to do so was expecting no drastic changes.
Gpu is for flexibility and that's what we do mine good and worth project. 
Good luck everyone!