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Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 10. (Read 84330 times)

legendary
Activity: 1498
Merit: 1000
looks like it's back to the drawing board for ethereum and I think they'll have to delay their launch
they'can't go full PoW like they planned cos 100% PoW dagger is flawed
http://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow-is-flawed/
vitalik aknowledged this and is now looking for solutions...and funny enough the solution is more than likely to be PoS
http://www.reddit.com/r/ethereum/comments/1vh94e/dagger_updates/
and to sort it out he's trying to get the n.1 expert on PoS = Sunny King.


Ouch, that's not good.
BCNext probably enjoy this a lot!
legendary
Activity: 1470
Merit: 1004
looks like it's back to the drawing board for ethereum and I think they'll have to delay their launch
they'can't go full PoW like they planned cos 100% PoW dagger is flawed
http://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow-is-flawed/
vitalik aknowledged this and is now looking for solutions...and funny enough the solution is more than likely to be PoS
http://www.reddit.com/r/ethereum/comments/1vh94e/dagger_updates/
and to sort it out he's trying to get the n.1 expert on PoS = Sunny King.


Ouch, that's not good.
sr. member
Activity: 420
Merit: 250
Kamehameha!!!
Mentioning no names but the people that tend to criticize others for greed have already made ALOT of money on other coins like NXT (at the cost of other later buyers ultimately) If you don't like greed I've posted my NXT address to prove how much you don't like it.....otherwise give others a chance that they had and took.



NXT:   14058662050366623641






Greed is good. Greed makes this world function.

Agreed, but I don't think we need to use the word greed when trying to make money generally. How about self interest, striving to achieve, striving to be a success, how about trying to provide for your loved ones....

That's famous quote from the movie "Wall Street". I am just paraphrasing Smiley  don't need to hide the brutal truth.

hehe yeah I know...Lunch is for wimps..
sr. member
Activity: 602
Merit: 268
Internet of Value
Mentioning no names but the people that tend to criticize others for greed have already made ALOT of money on other coins like NXT (at the cost of other later buyers ultimately) If you don't like greed I've posted my NXT address to prove how much you don't like it.....otherwise give others a chance that they had and took.



NXT:   14058662050366623641






Greed is good. Greed makes this world function.

Agreed, but I don't think we need to use the word greed when trying to make money generally. How about self interest, striving to achieve, striving to be a success, how about trying to provide for your loved ones....

That's famous quote from the movie "Wall Street". I am just paraphrasing Smiley  don't need to hide the brutal truth.
sr. member
Activity: 420
Merit: 250
Kamehameha!!!
Mentioning no names but the people that tend to criticize others for greed have already made ALOT of money on other coins like NXT (at the cost of other later buyers ultimately) If you don't like greed I've posted my NXT address to prove how much you don't like it.....otherwise give others a chance that they had and took.



NXT:   14058662050366623641






Greed is good. Greed makes this world function.

Agreed, but I don't think we need to use the word greed when trying to make money generally. How about self interest, striving to achieve, striving to be a success, how about trying to provide for your loved ones....
sr. member
Activity: 602
Merit: 268
Internet of Value
Mentioning no names but the people that tend to criticize others for greed have already made ALOT of money on other coins like NXT (at the cost of other later buyers ultimately) If you don't like greed I've posted my NXT address to prove how much you don't like it.....otherwise give others a chance that they had and took.



NXT:   14058662050366623641






Greed is good. Greed makes this world function.
sr. member
Activity: 420
Merit: 250
Kamehameha!!!
Mentioning no names but the people that tend to criticize others for greed have already made ALOT of money on other coins like NXT (at the cost of other later buyers ultimately) If you don't like greed I've posted my NXT address to prove how much you don't like it.....otherwise give others a chance that they had and took.



NXT:   14058662050366623641




sr. member
Activity: 384
Merit: 250
So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years?  Roll Eyes

Also what does CPU mining means? A strong usual PC will be enough for mining?

As I understand it, the same amount of ETH will be mined every year forever. For this to happen difficulty has to adjust according to the network hashrate. Profitability is dependent on ETH price.

OK, so 50M will be mined each year forever? But as network hashrate grows (more miners mine), difficulty will increase?
So still early miners which start when the network is smaller will have advantage, right?

If Ethereum is successful and more people mine it, then that should be right.

The 50M figure is not fixed; it depends on the amount of BTC raised in the IPO. So if 1,000 BTC get raised, then that equals 10,000,000 ETH and miners will get 50% of that in the first year.
sr. member
Activity: 392
Merit: 265
So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years?  Roll Eyes

Also what does CPU mining means? A strong usual PC will be enough for mining?

As I understand it, the same amount of ETH will be mined every year forever. For this to happen difficulty has to adjust according to the network hashrate. Profitability is dependent on ETH price.

OK, so 50M will be mined each year forever? But as network hashrate grows (more miners mine), difficulty will increase?
So still early miners which start when the network is smaller will have advantage, right?
sr. member
Activity: 384
Merit: 250
So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years?  Roll Eyes

Also what does CPU mining means? A strong usual PC will be enough for mining?

As I understand it, the same amount of ETH will be mined every year forever. For this to happen difficulty has to adjust according to the network hashrate. Profitability is dependent on ETH price.
sr. member
Activity: 392
Merit: 265
So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years?  Roll Eyes

Also what does CPU mining means? A strong usual PC will be enough for mining?
legendary
Activity: 2142
Merit: 1010
Newbie

The devs are asking advices from SunnyKing to create a coin similar to PeerCoin ?

It doesn't sound like a good news.

It does. This shows that they r open-minded persons, not fanatics.
legendary
Activity: 2156
Merit: 1131

The devs are asking advices from SunnyKing to create a coin similar to PeerCoin ?

It doesn't sound like a good news.

full member
Activity: 171
Merit: 100
actually not peercoin. looks like he wants to go the slasher PoS route (which i guess it's what emunie will be using although not sure).
http://blog.ethereum.org/?p=39/slasher-a-punitive-proof-of-stake-algorithm
legendary
Activity: 1498
Merit: 1000
So another NXT copycat lol
Half joking...

Well, actually it will be Peercoin copycat...
NXT is better, he should ask BCNext's advice and not SunnyKing's...
legendary
Activity: 2142
Merit: 1010
Newbie
So another NXT copycat lol
Half joking...

Well, actually it will be Peercoin copycat...
legendary
Activity: 1498
Merit: 1000
So another NXT copycat lol
Half joking...

EDIT: Especially regarding Vitalik's weird stance against NXT - no comment on it's PoS algo neither to his magazine, nor here nor in the protocol (as a reference for possible solution). He acts as if it does not exist, go figure...
full member
Activity: 171
Merit: 100
looks like it's back to the drawing board for ethereum and I think they'll have to delay their launch
they'can't go full PoW like they planned cos 100% PoW dagger is flawed
http://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow-is-flawed/
vitalik aknowledged this and is now looking for solutions...and funny enough the solution is more than likely to be PoS
http://www.reddit.com/r/ethereum/comments/1vh94e/dagger_updates/
and to sort it out he's trying to get the n.1 expert on PoS = Sunny King.



legendary
Activity: 2142
Merit: 1010
Newbie
It's rather interesting to see that >80% of the posts here discuss IPO and mining and very few posts discuss the interesting aspects like the scripting language or transaction logic, privacy, etc...

Agree. Let's discuss fee, for example:

Quote
Ethereum will have seven primary fees, of which one applies to transaction senders and six apply to contracts. The fees are:

TXFEE (100x) - fee for sending a transaction
NEWCONTRACTFEE (100x) - fee for creating a new contract, not including the memory fee for each item in script code
STEPFEE (1x) - fee for every computational step after than first sixteen in contract execution
STORAGEFEE (5x) - per-byte fee for adding to contract storage. The storage fee is the only fee that is not paid to a miner, and is refunded when storage used by a contract is reduced or removed.
DATAFEE (20x) - fee for accessing or setting a contract's memory from inside that contract
EXTROFEE (40x) - fee for accessing memory from another contract inside a contract
CRYPTOFEE (20x) - fee for using any of the cryptographic operations

Why these magic numbers? I prefer numbers that r power of 2. Why not numbers set by the market? U can't win in a battle against market, if ur guess on numbers is incorrect the market will just adopt Cryptoneum or any other copycat.
legendary
Activity: 1078
Merit: 1002
Bitcoin is new, makes sense to hodl.
It's rather interesting to see that >80% of the posts here discuss IPO and mining and very few posts discuss the interesting aspects like the scripting language or transaction logic, privacy, etc...

Greed!

Guys, this coin is not especially useful for getting rich quick and I predict you will have all the time in the world to buy/mine it if you want in the years after launch because of the linear inflation. There will be no halving of the reward, inflation in relative terms only goes down due to the increasing supply. This means miners in year 1 will get the same amount of coin as miners in year 20.

This coin is innovative technically and founders have chosen not to make early adopters extremely rich in the long run. Since this (early adopter unfairness) is often cited as a drawback of Bitcoin (envy) by newcomers and some economists, I think this could turn out to be a good decision... Interest in the coin seems to be high enough to get it going without exorbitant promise to early investors.

Well, let there be competition Wink


so being an investor is not so good for this coin but being a founder is. I'll invest anyway regardless of how rigged, also interested to invest as a founder if possible.
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