[ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet - page 137.

CryptoGretzky

sr. member

Activity: 322

Merit: 250

Quote from: ballzdeep on May 27, 2014, 02:23:59 AM

Quote from: CryptoGretzky on May 27, 2014, 02:22:08 AM

Quote from: WuzzD on May 27, 2014, 02:17:09 AM

still block 20001 on every pool i look at, for over 20 minutes now?

I think because a lot of pools updated to the 20k wallet... now it's totally the farm that is mining the coin... I think it's a huge mistake to roll it back to 21k instead of the 20k wallet....

yea, just keeps rising....NET HASH 952.41 GH/S

Our last 10k block basically will mostly go to the gigantic farm/multipool... our XC... no.....

CryptoGretzky

sr. member

Activity: 322

Merit: 250

Quote from: mannie on May 27, 2014, 02:24:52 AM

Quote from: Thrash on May 27, 2014, 01:56:32 AM

Quote from: battbot on May 27, 2014, 01:45:03 AM

Quote from: mannie on May 27, 2014, 01:43:05 AM

Quote from: battbot on May 27, 2014, 01:40:36 AM

Quote from: mannie on May 27, 2014, 01:39:46 AM

Quote from: battbot on May 27, 2014, 01:34:04 AM

Quote from: mannie on May 27, 2014, 01:31:29 AM

I've been watching this coin with interest and I have to say, I don't understand the great rush with things. Why the need to transition to POS right away? If the coin isn't well distributed there's a risk of a 51% attack by a big holder having coins on minting. Is there even a distribution list/chart for the POW coins?

Because there are FPGA's accounting for about 60-70% of the net hash. That is why.

FPGA x11 code: http://cryptography.gmu.edu/athena/index.php?id=source_codes

Okay but isn't that jumping from one security problem to another? Isn't anyone concerned about uneven distribution of staking wallets, considering a large number of coins will be bound up on exchanges?

Exchange wallets do not stake. They disable stake. This can be confirmed by bittrex-richie (bittrex) and tf2honeybadger (poloniex).

That's what I mean. Coins on exchanges won't be staking thereby reducing the number of coins you would need to have 51% of minting coins. Am I wrong?

atcsecure would have to answer that one -- I'm not quite sure how it all works to be honest.

I do not want to answer for the dev but here is my take on it.

Let's say we end up at 5.6 million coins at the end of POW. (Using a low number as this is worse case scenario.) If 1/2 of the coins are on the exchanges that leaves 2.8 million in wallets for staking. If only 1/2 of the people keep there wallets unlocked and staking then that leaves 1.4 million coins staking. So a successful 51% would require 700,000 XC, about $500,000 US at current prices, which could happen but even if someone has that many I believe they would need to have knowledge and bad intentions to do damage. I doubt 1/2 of the coins will be on exchanges and I think as long as the coin is doing well it is likely more than 1/2 of them that are in wallets will be staking. Therefore not sure if it is something to be to concerned about at this time.

Please correct me if I am misunderstanding or have misrepresented anything.

I agree it's probably not likely but a double-spend exploit must be a big target for some people. I just don't get the rush to POS. Aren't there other ways to get around the big hash whales?

You don't get it because you are DRK bagholder.... People that believe in XC gets it so that it can't fork like DRK today....

mannie

full member

Activity: 168

Merit: 100

Quote from: Thrash on May 27, 2014, 01:56:32 AM

Quote from: battbot on May 27, 2014, 01:45:03 AM

Quote from: mannie on May 27, 2014, 01:43:05 AM

Quote from: battbot on May 27, 2014, 01:40:36 AM

Quote from: mannie on May 27, 2014, 01:39:46 AM

Quote from: battbot on May 27, 2014, 01:34:04 AM

Quote from: mannie on May 27, 2014, 01:31:29 AM

I've been watching this coin with interest and I have to say, I don't understand the great rush with things. Why the need to transition to POS right away? If the coin isn't well distributed there's a risk of a 51% attack by a big holder having coins on minting. Is there even a distribution list/chart for the POW coins?

Because there are FPGA's accounting for about 60-70% of the net hash. That is why.

FPGA x11 code: http://cryptography.gmu.edu/athena/index.php?id=source_codes

Okay but isn't that jumping from one security problem to another? Isn't anyone concerned about uneven distribution of staking wallets, considering a large number of coins will be bound up on exchanges?

Exchange wallets do not stake. They disable stake. This can be confirmed by bittrex-richie (bittrex) and tf2honeybadger (poloniex).

That's what I mean. Coins on exchanges won't be staking thereby reducing the number of coins you would need to have 51% of minting coins. Am I wrong?

atcsecure would have to answer that one -- I'm not quite sure how it all works to be honest.

I do not want to answer for the dev but here is my take on it.

Let's say we end up at 5.6 million coins at the end of POW. (Using a low number as this is worse case scenario.) If 1/2 of the coins are on the exchanges that leaves 2.8 million in wallets for staking. If only 1/2 of the people keep there wallets unlocked and staking then that leaves 1.4 million coins staking. So a successful 51% would require 700,000 XC, about $500,000 US at current prices, which could happen but even if someone has that many I believe they would need to have knowledge and bad intentions to do damage. I doubt 1/2 of the coins will be on exchanges and I think as long as the coin is doing well it is likely more than 1/2 of them that are in wallets will be staking. Therefore not sure if it is something to be to concerned about at this time.

Please correct me if I am misunderstanding or have misrepresented anything.

I agree it's probably not likely but a double-spend exploit must be a big target for some people. I just don't get the rush to POS. Aren't there other ways to get around the big hash whales?

ballzdeep

full member

Activity: 193

Merit: 100

Quote from: CryptoGretzky on May 27, 2014, 02:22:08 AM

Quote from: WuzzD on May 27, 2014, 02:17:09 AM

still block 20001 on every pool i look at, for over 20 minutes now?

I think because a lot of pools updated to the 20k wallet... now it's totally the farm that is mining the coin... I think it's a huge mistake to roll it back to 21k instead of the 20k wallet....

yea, just keeps rising....NET HASH 952.41 GH/S

coine_smithe

sr. member

Activity: 322

Merit: 250

Quote from: DRobert on May 27, 2014, 02:19:31 AM

Quote from: coine_smithe on May 27, 2014, 02:13:57 AM

Quote from: DRobert on May 27, 2014, 02:11:43 AM

Can anyone help me answer this question:

My wallet says my coins aren't minting because they aren't mature. What does this mean and how can I solve this problem?

8 hours must elapse after depositing to your wallet before you can stake.

Nice. Thank you for answering my question. Do I need a constant connection to the internet after they are done minting to POS? I'm going to be out of town for almost a week and want to bring my laptop with me but it won't have a constant internet connection...

In OP you can see it says max stake age is 30 days. That means after 30 days you'll stop accruing "stake weight" which means after that point basically you will be losing out on some of the interest you can accrue. So a week is fine. All that you'll miss is compounding interest which is not too terribly much for a week.

CryptoGretzky

sr. member

Activity: 322

Merit: 250

Quote from: WuzzD on May 27, 2014, 02:17:09 AM

still block 20001 on every pool i look at, for over 20 minutes now?

I think because a lot of pools updated to the 20k wallet... now it's totally the farm that is mining the coin... I think it's a huge mistake to roll it back to 21k instead of the 20k wallet....

BADASS

newbie

Activity: 28

Merit: 0

be back

DRobert

member

Activity: 98

Merit: 10

Quote from: coine_smithe on May 27, 2014, 02:13:57 AM

Quote from: DRobert on May 27, 2014, 02:11:43 AM

Can anyone help me answer this question:

My wallet says my coins aren't minting because they aren't mature. What does this mean and how can I solve this problem?

8 hours must elapse after depositing to your wallet before you can stake.

Nice. Thank you for answering my question. Do I need a constant connection to the internet after they are done minting to POS? I'm going to be out of town for almost a week and want to bring my laptop with me but it won't have a constant internet connection...

ballzdeep

full member

Activity: 193

Merit: 100

https://www.minep.it/pool/xc is running but need more hash

WuzzD

newbie

Activity: 20

Merit: 0

still block 20001 on every pool i look at, for over 20 minutes now?

ballzdeep

full member

Activity: 193

Merit: 100

should have ended at 20k, damn ....

837.84 GH/S
X11
DIFFICULTY
8,864.57

520Bit

sr. member

Activity: 602

Merit: 252

Quote from: gadgetnerd on May 27, 2014, 02:02:59 AM

Quote from: DRobert on May 27, 2014, 01:03:59 AM

Quote from: atcsecure on May 27, 2014, 12:44:03 AM

Updated to v0.9.1.4x11-coin-1.0

Sorry about the confusion - here is the correct wallet

https://mega.co.nz/#!ZcN3xJBa!AusfqUpr6keImDaMKkOXnO165ZmEWl1WNfpuVX8EFkE

I am extremely stressed out right now. Where is the update for the macwallet??!?!?!

Same here, is there a updated MacWallet? If not, how does that affect the minting in my wallet? I have 6000XC in my (mac)wallet and it is minting (bottom right symbol says " Minting, your weight is 7536, Networkweight is 52145. Expected time to earn rewards: 10 minutes"). But I see nothing else happening. Hope some1 can explain.

What does the weight mean? Your weight is 7536, is it so high?

If I open two different computers to mint, will the mint efficient be double?

adoress

full member

Activity: 227

Merit: 103

SINTEZ LLC

What does mean "Total # of Coins reduced to about 6~7.5Million with POW" Huh

I remember the ann "Total of coins 33m" yesterday!

coine_smithe

sr. member

Activity: 322

Merit: 250

Quote from: DRobert on May 27, 2014, 02:11:43 AM

Can anyone help me answer this question:

My wallet says my coins aren't minting because they aren't mature. What does this mean and how can I solve this problem?

8 hours must elapse after depositing to your wallet before you can stake.

gadgetnerd

member

Activity: 136

Merit: 10

Quote from: DRobert on May 27, 2014, 02:06:58 AM

Quote from: gadgetnerd on May 27, 2014, 02:02:59 AM

Quote from: DRobert on May 27, 2014, 01:03:59 AM

Quote from: atcsecure on May 27, 2014, 12:44:03 AM

Updated to v0.9.1.4x11-coin-1.0

Sorry about the confusion - here is the correct wallet

https://mega.co.nz/#!ZcN3xJBa!AusfqUpr6keImDaMKkOXnO165ZmEWl1WNfpuVX8EFkE

I am extremely stressed out right now. Where is the update for the macwallet??!?!?!

Same here, is there a updated MacWallet? If not, how does that affect the minting in my wallet? I have 6000XC in my (mac)wallet and it is minting (bottom right symbol says " Minting, your weight is 7536, Networkweight is 52145. Expected time to earn rewards: 10 minutes"). But I see nothing else happening. Hope some1 can explain.

Lucky. My MacWallet says my coins aren't minting.

It's nice it is minting, it's been doing so for the last few days. But I don't understand what happens now. Can some1 explain this newbie?

ballzdeep

full member

Activity: 193

Merit: 100

702.57 GH/S
X11
DIFFICULTY
7,547.89

Taner

sr. member

Activity: 686

Merit: 250

xc 620043.26 MH/s Shocked

ballzdeep

full member

Activity: 193

Merit: 100

join : https://www.minep.it/pool/xc

DRobert

member

Activity: 98

Merit: 10

Can anyone help me answer this question:

My wallet says my coins aren't minting because they aren't mature. What does this mean and how can I solve this problem?

I bought all my coins, so does this mean I am not eligible to POS?

WuzzD

newbie

Activity: 20

Merit: 0

anyone else stuck on block 20001?

Topic: [ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet - page 137. (Read 268504 times)