[BCN] Bytecoin. Secure, private, untraceable since 2012 - page 343.

Rytir_fik

full member

Activity: 139

Merit: 100

Quote from: Stanford on May 21, 2014, 04:11:33 PM

Quote from: Vilchaco on May 20, 2014, 03:53:19 PM

Quote from: Patron92 on May 20, 2014, 03:48:13 PM

what's the hash rate now?

btw, I've read people were discussing pools. IMO there is only minergate. What are another pools?

Last block diff 14008296

Block time 120 s

14008296/120 = 116735.8 Hashes/s ~ 117 Kh/s

Is ~117Kh/s a waste of time to mine solo or should I merged mine BCN with Fantom?

I wonder if it's more profitable to join pool? I've read there is some problems with Minergate that's why I don't want to join it but I am interested to know different users opinions

Thanks in advance

I like Minergate. They have some problems but they are just starting. There is visible they work really hard on all the improvements. I have not lost any coin there. You need to be only patient at this time. Wink

Stanford

member

Activity: 314

Merit: 10

Quote from: Vilchaco on May 20, 2014, 03:53:19 PM

Quote from: Patron92 on May 20, 2014, 03:48:13 PM

what's the hash rate now?

btw, I've read people were discussing pools. IMO there is only minergate. What are another pools?

Last block diff 14008296

Block time 120 s

14008296/120 = 116735.8 Hashes/s ~ 117 Kh/s

Is ~117Kh/s a waste of time to mine solo or should I merged mine BCN with Fantom?

I wonder if it's more profitable to join pool? I've read there is some problems with Minergate that's why I don't want to join it but I am interested to know different users opinions

Thanks in advance

Fredz91

member

Activity: 60

Merit: 10

Quote from: DStrange on May 21, 2014, 01:11:27 PM

Meanwhile there are updated optimized binaries at official Bytecoin site https://bytecoin.org/

Windows https://bytecoin.org/download-windows-bin.php
Linux https://bytecoin.org/download-linux-bin.php
Mac OS https://bytecoin.org/download-mac-bin.php

Good, I wish the problem with daemon sync I sometimes had has gone.

gmaxwell

staff

Activity: 4242

Merit: 8672

Quote from: Rias on May 21, 2014, 01:16:09 PM

Quote from: gmaxwell on May 21, 2014, 12:39:23 PM

Quote from: sgk on May 21, 2014, 05:40:38 AM

Quote from: newIndia on May 21, 2014, 05:29:40 AM

When the difficulty is going to a level to get Bytecoin out of the hand of CPU miners ?

This is a CPU-only coin. It would never get out of CPU miners. But I can imagine people with several CPUs outdoing smaller one-CPU miners.

Thats also how litecoin was initially advertised— "cpu only". Oops. See also: https://download.wpsoftware.net/bitcoin/asic-faq.pdf

And besides, it doesn't have to have fancy hardware for it to be totally out of the hands of normal people— "cpu only" also seems to translate into botnet-herder-mostly. It's pretty easy for a "CPU mined" system to only be economically mine-able by resource thieves.

I've been studying CryptNote quite much and as far as I understand their proposition, CryptoNight algorithm is designed in a way to make the ASIC manufacturers desist from creating the proper machines, as the production should be economically pointless.

I'm sorry to cite my own post, but as you didn't reply I assume you missed this one:

Quote

I think the whole point is to make ASICs economically unviabile. It will always be possible to create a special purpose device, which is cheaper than CPU, but if the break even point is millions or billions of those devices per year, no manufacturer would even bother going into this business. I doubt you can restrict mining to CPU-only by design, but if you apply business considerations, this might actually work out.

It's not just the research, which would be costly. On the other hand, there are already billions of computers, which are suitable for CryptoNight PoW, while I'm not aware if there is any other device close to a standard CPU's speed.

Did you read about CryptoNight in general?
https://cryptonote.org/inside.php#equal-proof-of-work

Unfortunately, I only understand CryptoNight on the conceptual level, so I can't validate whether the assumptions hold in 2014. However, the underlying idea is pretty simple. Just make the algo as hard to create ASIC for as possible.

Yes, I am aware this is the claimed goal. This was also the claimed goal for litecoin— and unlike the cryptonote paper litecoin used a publicly known, peer reviewed algorithm. Litecoin failed in this goal because it is simply not really possible to achieve. You should go read the nice writeup I linked to. The cryptonight stuff is _less_ well reviewed and justified than the approach taken in litecoin. It's also insanely slow to verify, which is debilitating to many applications (including just syncing up a node).

Certainly, as you say, you can increase the upfront costs... and that might delay things a bit while the cryptocurrency is worthless. But higher upfront costs will almost guarantee a monopoly to someone who does go and create something (and, in fact, cpu only right now basically means an intel and amd duopoly— you realize that the marginal cost of a chip to someone with the right contracts with Intel is a tiny fraction of the retail price, right?), less competition in the hardware space is a risk, not an advantage. And, of course, litecoin asics have higher NRE and so there is less competition in that space. Making that worse seems unlikely to be an advantage.

madzooka

full member

Activity: 150

Merit: 100

Quote from: 33zer0w0lf on May 20, 2014, 05:02:05 PM

Quote from: madzooka on May 20, 2014, 03:51:49 PM

Quote from: Patron92 on May 20, 2014, 03:48:13 PM

what's the hash rate now?

btw, I've read people were discussing pools. IMO there is only minergate. What are another pools?

According to the web and what I know, there is only one official pool - minergate. https://bytecoin.org/services.php

https://bitcointalksearch.org/topic/extremepool-pool-bcnxmrqcnxdndashfcnmcnaeonbbrdoshoecinf8-mining-615486

there is more than just minregate.. new pool I just put up.

Thanks a lot. Didn't know that.
Good to see there are updatings and new pools, all this telling that this coin is improving and changes to our requirements.

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

Quote from: TooDumbForBitcoin on May 21, 2014, 11:51:42 AM

Quote

Notice the question mark at the end. Well-worn tabloid technique, and obvious attempt to pump this coin on its new exchange.

I asked the same question yesterday. This forum seems like the obvious place to ask (for people like me who aren't smart enough to analyze a blockchain.)

But you read it somewhere, right? I'm just asking for a link to the reference.

Rias

sr. member

Activity: 373

Merit: 250

Quote from: gmaxwell on May 21, 2014, 12:39:23 PM

Quote from: sgk on May 21, 2014, 05:40:38 AM

Quote from: newIndia on May 21, 2014, 05:29:40 AM

When the difficulty is going to a level to get Bytecoin out of the hand of CPU miners ?

This is a CPU-only coin. It would never get out of CPU miners. But I can imagine people with several CPUs outdoing smaller one-CPU miners.

Thats also how litecoin was initially advertised— "cpu only". Oops. See also: https://download.wpsoftware.net/bitcoin/asic-faq.pdf

And besides, it doesn't have to have fancy hardware for it to be totally out of the hands of normal people— "cpu only" also seems to translate into botnet-herder-mostly. It's pretty easy for a "CPU mined" system to only be economically mine-able by resource thieves.

I've been studying CryptNote quite much and as far as I understand their proposition, CryptoNight algorithm is designed in a way to make the ASIC manufacturers desist from creating the proper machines, as the production should be economically pointless.

I'm sorry to cite my own post, but as you didn't reply I assume you missed this one:

Quote

I think the whole point is to make ASICs economically unviabile. It will always be possible to create a special purpose device, which is cheaper than CPU, but if the break even point is millions or billions of those devices per year, no manufacturer would even bother going into this business. I doubt you can restrict mining to CPU-only by design, but if you apply business considerations, this might actually work out.

It's not just the research, which would be costly. On the other hand, there are already billions of computers, which are suitable for CryptoNight PoW, while I'm not aware if there is any other device close to a standard CPU's speed.

Did you read about CryptoNight in general?
https://cryptonote.org/inside.php#equal-proof-of-work

Unfortunately, I only understand CryptoNight on the conceptual level, so I can't validate whether the assumptions hold in 2014. However, the underlying idea is pretty simple. Just make the algo as hard to create ASIC for as possible.

DStrange

sr. member

Activity: 336

Merit: 251

Meanwhile there are updated optimized binaries at official Bytecoin site https://bytecoin.org/

Windows https://bytecoin.org/download-windows-bin.php
Linux https://bytecoin.org/download-linux-bin.php
Mac OS https://bytecoin.org/download-mac-bin.php

gmaxwell

staff

Activity: 4242

Merit: 8672

Quote from: sgk on May 21, 2014, 05:40:38 AM

Quote from: newIndia on May 21, 2014, 05:29:40 AM

When the difficulty is going to a level to get Bytecoin out of the hand of CPU miners ?

This is a CPU-only coin. It would never get out of CPU miners. But I can imagine people with several CPUs outdoing smaller one-CPU miners.

Thats also how litecoin was initially advertised— "cpu only". Oops. See also: https://download.wpsoftware.net/bitcoin/asic-faq.pdf

And besides, it doesn't have to have fancy hardware for it to be totally out of the hands of normal people— "cpu only" also seems to translate into botnet-herder-mostly. It's pretty easy for a "CPU mined" system to only be economically mine-able by resource thieves.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

actually the less holders, the less likely coins would be dumped cheap. It's easier for a few holders to agree on price. Look at nxt, or msc.

Pretty sure coins on poloniex/cryptonote are only coins from new miners.

TooDumbForBitcoin

legendary

Activity: 1638

Merit: 1001

Quote

32% of all bitcoins are concentrated in 500 wallets ( proof). In fact 32% of BTC are owned by much less than 500 people. Situations are similar, but nobody cares and nobody cries: "OMG, it's so unfair! 32% of emission! they can affect BTC price!".

BTC - 32% of 57% total emission in 500 hands. That's 500 competitors controlling 18% of the total emission.

BCN - 80% of 100% total emission in 3 hands? 4 hands? 5 hands? That's 5 collaborators controlling 80% of the total emission.

Guess I'm not smart enough to see the similarities.

platorin

sr. member

Activity: 392

Merit: 250

Does this coin have a future? What do you think?

TooDumbForBitcoin

legendary

Activity: 1638

Merit: 1001

Quote

Notice the question mark at the end. Well-worn tabloid technique, and obvious attempt to pump this coin on its new exchange.

I asked the same question yesterday. This forum seems like the obvious place to ask (for people like me who aren't smart enough to analyze a blockchain.)

33zer0w0lf

full member

Activity: 224

Merit: 100

http://bcn.extremepool.org has now been updated to show personal stats!
https://bitcointalksearch.org/topic/extremepool-pool-bcnxmrqcnxdndashfcnmcnaeonbbrdoshoecinf8-mining-615486

Xdragon

hero member

Activity: 543

Merit: 500

Is there a way to speed up daemon start? It is pain the ass,it is taking 2 gigs of ram

Other CN coins daemons starts faster, but theirs blockchains are smaller, so will all CN coins going have this issue? When blockchain gets bigger = slower daemon start?

burnbabyburn71

sr. member

Activity: 266

Merit: 250

Price is dropping like a rock Embarrassed

So many large sell orders

DStrange

sr. member

Activity: 336

Merit: 251

Quote from: Relaxedsense on May 21, 2014, 09:32:50 AM

How fast would I mine with a fx8350? The more cores the better am i right? What would be the best cpu to mine?

Cheers

Best CPU to mine is something with 2MB of internal cache (L2 and L3) for each of the mining threads. Ideally, one of the newest CPUs.

Relaxedsense

hero member

Activity: 809

Merit: 1002

How fast would I mine with a fx8350? The more cores the better am i right? What would be the best cpu to mine?

Cheers

amphibian

member

Activity: 210

Merit: 10

Updated SoloMiner (Merged mining GUI miner) binaries with a up-to-date hash function.

Download links:
Windows 64
Windows 32
MacOS (OSX)

And source for our lovely Linux friends

Source

Cheers.

Andrew DD

newbie

Activity: 41

Merit: 0

I wonder it in case Comkort will delay the launch day.

Topic: [BCN] Bytecoin. Secure, private, untraceable since 2012 - page 343. (Read 1070171 times)