Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 12.

ZeroTheGreat

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Quote from: BitCoinPokerBro on January 17, 2014, 12:35:59 PM

I don't know why everyone is bitching about POW vs POS. In either case if you have a $10,000 to invest you'll earn more than someone with $2,500. It takes money to build mining rigs just like it takes money to invest is POS.

Unfortunately the days of mining with one video card for 10,000% return is gone.

To speculate with PoS. To invest with PoS = to do profitable operations with it, to earn intrest, like forging in Nxt (for now ROI% near 0%, though).

dzarmush

legendary

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Quote from: ThePatient on January 19, 2014, 12:55:07 AM

Would it be wise to wait until after the IPO to invest?

If they're gonna go with current plans then yes. They want to sell 1 eth for 0.0001 btc during IPO and lock investors' funds for a year.

When IPO is over and miners start mining, the price won't be 0.0001 btc right from the start. Probably several months later.

ThePatient

sr. member

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Would it be wise to wait until after the IPO to invest?

msin

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Quote from: Minebeast on January 18, 2014, 09:48:56 PM

Im kinda confused; The countdown.. is it for the actual launch of the coin, for the IPO, for more info, or what?

It's for the launch of the IPO which should last 30-60 days but no one really knows. We are still at least 3 months out for the coin launch.

jimhsu

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Activity: 364

Merit: 264

Quote from: Come-from-Beyond on January 17, 2014, 02:16:04 PM

Is there anywhere on the Internet a reply of Ethereum devs on http://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow-is-flawed/ ?

Edit: I have just noticed the date of the blog post, never mind.

Reply here: http://www.reddit.com/r/ethereum/comments/1vh94e/dagger_updates/

In summary: Maybe PoS instead, or a competition for the "best" (resistant) PoW algorithm (ala AES and SHA3).

indigon

member

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What is the date of the Miami conference? Is it full already?

Minebeast

newbie

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Im kinda confused; The countdown.. is it for the actual launch of the coin, for the IPO, for more info, or what?

klee

legendary

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Quote from: Come-from-Beyond on January 14, 2014, 04:27:29 PM

From http://wiki.ethereum.org/index.php/Dagger:

Quote

...In the context of mining, however, botnet-infected computers tend to be running older operating systems and have weaker specifications, meaning that they will have a much lower performance and impact on the network than their size might initially suggest.

...
...
...

...And even in such an equilibrium, mining with ordinary CPUs will likely continue to be practical.

So we have such a formula for mining power:

numberOfZombieComputers * X = numberOfLegitMiners

Question:

What is ur assessment of X value?

Quote from: klee on January 14, 2014, 05:24:21 AM

Have not read the whitepaper yet but I would like to ask if it will support the above:

1) Totally anonymous minting for all coins (every client compulsory connected through Tor/I2P, like anoncoin)
2) Compulsory zerocoin/coinjoin like mixing in the blockchain
3) Client connecting only through Tor/I2P
(1,2,3 will prevent taint analysis -> possible fungibility loss)
4) Distributed ethereum/fiat exchange without trusted third party (holy grail) - OT I think needs a 3rd party.

Thank you in advance!

Good luck, we need as much diversity as possible.

Quote from: Come-from-Beyond on January 17, 2014, 02:16:04 PM

Is there anywhere on the Internet a reply of Ethereum devs on http://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow-is-flawed/ ?

Edit: I have just noticed the date of the blog post, never mind.

Thanks in advance.

Brilliantrocket

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So would the most efficient way to mine be server blades?

td services

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Merit: 250

black swan hunter

Quote from: msin on January 18, 2014, 10:12:13 AM

Quote from: td services on January 17, 2014, 11:33:56 PM

Quote from: Xamda on January 17, 2014, 08:59:24 PM

And just why should cloud mining be excluded and is that even possible as long as you make the coin possible to mine with CPU?

Cloud mining runs on centralized facilities, so it creates vulnerable areas for attack. It also concentrates distribution, wastes electricity, and results in instamined coin. This happened with Protoshares, which was supposed to be highly decentralized CPU mining on individual PCs, with mining slowly ramping up.

As to if its possible - good question. Maybe if there is a way to detect and penalize clustered CPUs and verify diverse geographic location.

Another option is if mining is tied to useful activity like providing bandwidth, general purpose processing power, memory, and storage to the network, using the coin to optimize resource allocation with market driven supply and demand. In this case, the more mining power, the better, regardless of source, since everybody benefits from lower cost, higher capacity, and ubiquity.

td services, are you going to buy during the pre-ipo or mine this with Botnets? I'm just curious, you seem to have some kind of vested interest.

But in during pre-sale, maybe mine with rig at home if the CPU implementation prevents cloudmining and botnets. Have no use for botnets, I detect and remove customer computers from them as part of my business.

Overall, I prefer PoS over PoW. The method used in NXT for PoS sounds good, from the way it is presented in https://docs.google.com/document/d/1E_ToOMG2l1XThx6YnyXEajXaf6H1k2yjq8XkAF0ScB4/mobilebasic?pli=1 . This document gives a good description of how it works.

msin

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Quote from: td services on January 17, 2014, 11:33:56 PM

Quote from: Xamda on January 17, 2014, 08:59:24 PM

And just why should cloud mining be excluded and is that even possible as long as you make the coin possible to mine with CPU?

Cloud mining runs on centralized facilities, so it creates vulnerable areas for attack. It also concentrates distribution, wastes electricity, and results in instamined coin. This happened with Protoshares, which was supposed to be highly decentralized CPU mining on individual PCs, with mining slowly ramping up.

As to if its possible - good question. Maybe if there is a way to detect and penalize clustered CPUs and verify diverse geographic location.

Another option is if mining is tied to useful activity like providing bandwidth, general purpose processing power, memory, and storage to the network, using the coin to optimize resource allocation with market driven supply and demand. In this case, the more mining power, the better, regardless of source, since everybody benefits from lower cost, higher capacity, and ubiquity.

td services, are you going to buy during the pre-ipo or mine this with Botnets? I'm just curious, you seem to have some kind of vested interest.

add1ct3dd

sr. member

Activity: 658

Merit: 270

Has anyone looked into porting this net algo into stratum yet?

Gcr0n

full member

Activity: 168

Merit: 100

without the techtalk will 1 quadcore 3.40 ghz and 4gb ram be enough to get a decent mining and for how long?
will solo mining be profitable at this speed? i just tried a cpu coin and get about 93 khs but as i understand memory will be needed.
so do i need to expand? or will 4gb be enough?
what about the long run.. ?

techguy

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Activity: 378

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Quote from: Come-from-Beyond on January 18, 2014, 06:51:50 AM

Quote from: techguy on January 18, 2014, 06:49:35 AM

Botnets can cause ~~51%~~ 99% attack. Isn't it ?

Fixed.

Thanks for fixing

flower1024

legendary

Activity: 1428

Merit: 1000

with enough money everybody can do 30%+ attacks. just get yourself some cloud servers....and a botnets costs money also.

btw. you know that with any hashrate you can try to double-spend? this is not 50% specific. just your odds are better.

and if you can make money with a botnet: you can be sure there will be more than one botnet owner.

Come-from-Beyond

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Newbie

Quote from: techguy on January 18, 2014, 06:49:35 AM

Botnets can cause ~~51%~~ 99% attack. Isn't it ?

Fixed.

techguy

sr. member

Activity: 378

Merit: 250

Quote from: flower1024 on January 18, 2014, 06:45:28 AM

btw whats the problem with botnets mining? i dont have one and i dont think about getting one, but the purpose of block reward is securing transactions. as long as botnets do that i think its ok that they get their reward (this reminds me of an btc botnet which produced blocks but did not process transaction - this is a problem: but its not botnet specific).

botnets wont go away just because their is no coin to mine, you know?

Botnets can cause 51% attack. Isn't it ?

flower1024

legendary

Activity: 1428

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btw whats the problem with botnets mining? i dont have one and i dont think about getting one, but the purpose of block reward is securing transactions. as long as botnets do that i think its ok that they get their reward (this reminds me of an btc botnet which produced blocks but did not process transaction - this is a problem: but its not botnet specific).

botnets wont go away just because their is no coin to mine, you know?

Piesel

sr. member

Activity: 672

Merit: 273

Very interesting gona mine this one.

luckygenough56

legendary

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Merit: 1012

Cpu mining ? please do it right cause i'm kind of worried. Last cpu coins have been major failure launch with the difficulty over the roof in minutes leaving everybody in the dust. Botnet fest. So be careful. Gpu mining with a limited 5mh/s per person would be great and the coin would be more popular than any other coin as the more fair coin released recently. But i'm dreamin' i guess.

Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 12. (Read 84330 times)