★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 1337.

the_game1224

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Activity: 252

Merit: 250

Quote from: tdcooper99 on June 18, 2014, 02:53:42 AM

Quote from: the_game1224 on June 17, 2014, 02:11:52 PM

Quote from: tdcooper99 on June 17, 2014, 08:41:04 AM

Nah... pretty sure in that scenario, the SHA-256 dude would get sweet F.A. You need hashpower to discover the blocks, regardless of the algo. The 1PH Scrypt network would find everything, except in the most bizarrely lucky of situations.

Except he was wrong. Each algo would have it's own difficulty thus if you were the only one on SHA256 you would get the same amount of coins as the total of the Scrypt miners.

Its really quite simple the way the Dev explained it "Imagine that DigiByte is 5 different coins in one. Only 1/5th of all DigiBytes can ever be mined by the SHA algo. So if you have a SHA ASIC you still are competing for 100% of SHA-256 DigiByte coins."

Yeah, on further contemplation... I realised my mistake...

All good. Just want everyone to understand how it works!

What should happen after things shake out is each of the algos will be about evenly mined so there is not a huge advantage to one or another as far as rewards/difficulty goes.

tdcooper99

full member

Activity: 215

Merit: 100

Quote from: the_game1224 on June 17, 2014, 02:11:52 PM

Quote from: tdcooper99 on June 17, 2014, 08:41:04 AM

Nah... pretty sure in that scenario, the SHA-256 dude would get sweet F.A. You need hashpower to discover the blocks, regardless of the algo. The 1PH Scrypt network would find everything, except in the most bizarrely lucky of situations.

Except he was wrong. Each algo would have it's own difficulty thus if you were the only one on SHA256 you would get the same amount of coins as the total of the Scrypt miners.

Its really quite simple the way the Dev explained it "Imagine that DigiByte is 5 different coins in one. Only 1/5th of all DigiBytes can ever be mined by the SHA algo. So if you have a SHA ASIC you still are competing for 100% of SHA-256 DigiByte coins."

Yeah, on further contemplation... I realised my mistake...

benjamoyne

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Activity: 274

Merit: 101

Quote from: bholzer on June 17, 2014, 07:11:22 PM

Quote from: DigiByte on June 17, 2014, 06:48:23 PM

Quote from: benjamoyne on June 17, 2014, 05:42:19 PM

Quote from: bholzer on June 17, 2014, 03:36:37 PM

We pulled the new Murraycoin icons out of the source - going to make it tricky for DigiByte to steal them this time Wink

LOL
You do have a firm understanding of what open source is don't you??? Wink

That would mean you "stole" from bitcoin and litecoin.
Tongue

lol! +1

Also, we edited all the icons and changed the colors so they were unique to the DigiByte wallet.

I was joking, fellas. By including them in our source they certainly fell under the open umbrella. DigiByte is one of the few coins in the new class that I respect. The original Murraycoin icons were all made in-house and look great - the fact that you guys are using them just shows you have good taste. If we hadn't switched to a new "golf" theme, we'd still be using them as well.

Whoops, sorry guys my bad Lips sealed

RJF

hero member

Activity: 616

Merit: 500

Online since '89...

Quote from: ycagel on June 17, 2014, 11:50:20 PM

Did you all see this?

http://www.coindesk.com/500-million-dogecoin-mined-hacker-malware-attack/

YC

Just proves that there is no limit to human ingenuity when there is money involved...

ycagel

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Activity: 924

Merit: 1000

Did you all see this?

http://www.coindesk.com/500-million-dogecoin-mined-hacker-malware-attack/

YC

DigiByte

legendary

Activity: 1722

Merit: 1051

Official DigiByte Account

Quote from: bholzer on June 17, 2014, 07:11:22 PM

Quote from: DigiByte on June 17, 2014, 06:48:23 PM

Quote from: benjamoyne on June 17, 2014, 05:42:19 PM

Quote from: bholzer on June 17, 2014, 03:36:37 PM

We pulled the new Murraycoin icons out of the source - going to make it tricky for DigiByte to steal them this time Wink

LOL
You do have a firm understanding of what open source is don't you??? Wink

That would mean you "stole" from bitcoin and litecoin.
Tongue

lol! +1

Also, we edited all the icons and changed the colors so they were unique to the DigiByte wallet.

I was joking, fellas. By including them in our source they certainly fell under the open umbrella. DigiByte is one of the few coins in the new class that I respect. The original Murraycoin icons were all made in-house and look great - the fact that you guys are using them just shows you have good taste. If we hadn't switched to a new "golf" theme, we'd still be using them as well.

lol!

You guys did a great job with them! Might have to check the new wallet out!

bholzer

hero member

Activity: 490

Merit: 500

The Murraycoin Project ▪ Lead Developer

Quote from: DigiByte on June 17, 2014, 06:48:23 PM

Quote from: benjamoyne on June 17, 2014, 05:42:19 PM

Quote from: bholzer on June 17, 2014, 03:36:37 PM

We pulled the new Murraycoin icons out of the source - going to make it tricky for DigiByte to steal them this time Wink

LOL
You do have a firm understanding of what open source is don't you??? Wink

That would mean you "stole" from bitcoin and litecoin.
Tongue

lol! +1

Also, we edited all the icons and changed the colors so they were unique to the DigiByte wallet.

I was joking, fellas. By including them in our source they certainly fell under the open umbrella. DigiByte is one of the few coins in the new class that I respect. The original Murraycoin icons were all made in-house and look great - the fact that you guys are using them just shows you have good taste. If we hadn't switched to a new "golf" theme, we'd still be using them as well.

DigiByte

legendary

Activity: 1722

Merit: 1051

Official DigiByte Account

Quote from: benjamoyne on June 17, 2014, 05:42:19 PM

Quote from: bholzer on June 17, 2014, 03:36:37 PM

We pulled the new Murraycoin icons out of the source - going to make it tricky for DigiByte to steal them this time Wink

LOL
You do have a firm understanding of what open source is don't you??? Wink

That would mean you "stole" from bitcoin and litecoin.
Tongue

lol! +1

Also, we edited all the icons and changed the colors so they were unique to the DigiByte wallet.

benjamoyne

full member

Activity: 274

Merit: 101

Quote from: bholzer on June 17, 2014, 03:36:37 PM

We pulled the new Murraycoin icons out of the source - going to make it tricky for DigiByte to steal them this time Wink

LOL
You do have a firm understanding of what open source is don't you??? Wink

That would mean you "stole" from bitcoin and litecoin.
Tongue

bholzer

hero member

Activity: 490

Merit: 500

The Murraycoin Project ▪ Lead Developer

We pulled the new Murraycoin icons out of the source - going to make it tricky for DigiByte to steal them this time Wink

the_game1224

sr. member

Activity: 252

Merit: 250

Quote from: iikun on June 17, 2014, 02:06:58 PM

Quote from: tdcooper99 on June 17, 2014, 08:41:04 AM

Quote from: haggis on June 17, 2014, 05:55:41 AM

=> the Sha256 miner gets with his notebook as much coins as all 10k scrypt miners together.

Nah... pretty sure in that scenario, the SHA-256 dude would get sweet F.A. You need hashpower to discover the blocks, regardless of the algo. The 1PH Scrypt network would find everything, except in the most bizarrely lucky of situations.

Might this not discourage people from mining on unpopular algos? I mean if I was the only person mining SHA256 & thus getting very little reward, surely I would move that miner to another, more profitable coin. We may end up with just 2 or 3 of the 5 algorithms being used. Or being used to any great extent that is.

Except he was wrong. Each algo would have it's own difficulty thus if you were the only one on SHA256 you would get the same amount of coins as the total of the Scrypt miners.

Its really quite simple the way the Dev explained it "Imagine that DigiByte is 5 different coins in one. Only 1/5th of all DigiBytes can ever be mined by the SHA algo. So if you have a SHA ASIC you still are competing for 100% of SHA-256 DigiByte coins."

iikun

legendary

Activity: 1062

Merit: 1003

Quote from: tdcooper99 on June 17, 2014, 08:41:04 AM

Quote from: haggis on June 17, 2014, 05:55:41 AM

=> the Sha256 miner gets with his notebook as much coins as all 10k scrypt miners together.

Nah... pretty sure in that scenario, the SHA-256 dude would get sweet F.A. You need hashpower to discover the blocks, regardless of the algo. The 1PH Scrypt network would find everything, except in the most bizarrely lucky of situations.

Might this not discourage people from mining on unpopular algos? I mean if I was the only person mining SHA256 & thus getting very little reward, surely I would move that miner to another, more profitable coin. We may end up with just 2 or 3 of the 5 algorithms being used. Or being used to any great extent that is.

ycagel

hero member

Activity: 924

Merit: 1000

Jared,
Have you all made a decision on which the 4th and 5th algorithms will be? Has there been any communication with that specific community to cause more awareness for DGB?

On a side note, I am really impressed by the professionalism and dedication to this coin. It's actually quite refreshing with all the other "shell" coins. This has the legs of a real runner in the space. A few things and we could cause some major impact. The holders of this coin won't be upset. I also don't think you will see these giveaway prices anymore either.

YC

the_game1224

sr. member

Activity: 252

Merit: 250

Quote from: haggis on June 17, 2014, 05:55:41 AM

Quote from: DigiByte on June 16, 2014, 08:45:52 PM

Also, try thinking of it this way. Imagine that DigiByte is 5 different coins in one. Only 1/5th of all DigiBytes can ever be mined by the SHA algo. So if you have a SHA ASIC you still are competing for 100% of SHA-256 DigiByte coins.

Edit: There is a huge secondary market for SHA-256 ASICs we are looking to tap into. Many people still have some laying around that are no longer economical to mine Bitcoin with.

Hmm, ok. Every algo has its own difficulty. Therefore it can be much more profitable to mine on the algo with the lowest hash compared to what your hardware is able to.

Lets say:

Scrypt: 10000 miners with total of 1 Petahash/s

Sha256: 1 CPU miner with 100kh/s

=> the Sha256 miner gets with his notebook as much coins as all 10k scrypt miners together.

=> what are the requirements to run a 51% attack? Given the example above, if there was a 3rd "unpopular" hashing algo, could this guy start another notebook on it and then control 2/3 of the network and perform a 51% attack?

Notice: this are just mind experiments and it is very very unlikely that only 1 miner will work on one algo! I just give this example for sake of simplicity.

Yes the SHA256 miner would get just as much as all of the Scrypt miners combined as Scrypt and SHA256 will have individual difficulties.

tdcooper99

full member

Activity: 215

Merit: 100

Quote from: haggis on June 17, 2014, 05:55:41 AM

=> the Sha256 miner gets with his notebook as much coins as all 10k scrypt miners together.

Nah... pretty sure in that scenario, the SHA-256 dude would get sweet F.A. You need hashpower to discover the blocks, regardless of the algo. The 1PH Scrypt network would find everything, except in the most bizarrely lucky of situations.

Ryven Cedrylle

member

Activity: 75

Merit: 10

Quote from: DigiByte on June 16, 2014, 09:33:11 PM

What do you mean by switch?

As in there are a bunch of cloud mining services, eobot being one that I use, that are all pointed at Bitcoin. If they could be convinced to transfer their SHA mining to DGB, it would go a long way towards securing the network. Given BTC's difficulty, I've sent several emails to eobot suggesting other more profitable coins to mine. Each time they reply in the negative.

haggis

hero member

Activity: 984

Merit: 1000

Quote from: DigiByte on June 16, 2014, 08:45:52 PM

Also, try thinking of it this way. Imagine that DigiByte is 5 different coins in one. Only 1/5th of all DigiBytes can ever be mined by the SHA algo. So if you have a SHA ASIC you still are competing for 100% of SHA-256 DigiByte coins.

Edit: There is a huge secondary market for SHA-256 ASICs we are looking to tap into. Many people still have some laying around that are no longer economical to mine Bitcoin with.

Hmm, ok. Every algo has its own difficulty. Therefore it can be much more profitable to mine on the algo with the lowest hash compared to what your hardware is able to.

Lets say:

Scrypt: 10000 miners with total of 1 Petahash/s

Sha256: 1 CPU miner with 100kh/s

=> the Sha256 miner gets with his notebook as much coins as all 10k scrypt miners together.

=> what are the requirements to run a 51% attack? Given the example above, if there was a 3rd "unpopular" hashing algo, could this guy start another notebook on it and then control 2/3 of the network and perform a 51% attack?

Notice: this are just mind experiments and it is very very unlikely that only 1 miner will work on one algo! I just give this example for sake of simplicity.

BlazingHashes

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Activity: 106

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www.blazinghashes.com

cryptmebro

hero member

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Quark.

RJF

hero member

Activity: 616

Merit: 500

Online since '89...

Quote from: DigiByte on June 16, 2014, 08:45:52 PM

Also, try thinking of it this way. Imagine that DigiByte is 5 different coins in one. Only 1/5th of all DigiBytes can ever be mined by the SHA algo. So if you have a SHA ASIC you still are competing for 100% of SHA-256 DigiByte coins.

Edit: There is a huge secondary market for SHA-256 ASICs we are looking to tap into. Many people still have some laying around that are no longer economical to mine Bitcoin with.

Yep, that would be me!

Topic: ★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 1337. (Read 3058812 times)