[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 332.

KCBitcoin

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Quote from: matt4054 on September 18, 2013, 07:38:42 PM

Quote from: KCBitcoin on September 18, 2013, 07:36:01 PM

Since this payout is for a block mined 6 hours ago, that's when LC's address is not known to the public.
Therefore, a) is out.

I don't know about Slush's pool specifically, but on most mining pools with a username/pass system (vs address-only system like Eligius), you can change your payout address at any time, so there is no conclusive evidence either for or against a) AFAIK.

all right, then it is still possible someone did this just for the sake of pumping the share price.

Bitcycle

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Quote from: codegnome on September 18, 2013, 07:38:52 PM

So let me get this right. Someone mined 3 BTC and sent it to the Labcoin wallet to cause a price spike?

Which I bought into.

How dumb am I? What kind a person does this?

There is no evidence this is what happened.

There is no evidence against it, however, and this thread is the most suspicious place on the internet.

Ukyo

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Quote from: codegnome on September 18, 2013, 07:38:52 PM

So let me get this right. Someone mined 3 BTC and sent it to the Labcoin wallet to cause a price spike?

Which I bought into.

How dumb am I? What kind a person does this?

That's not proven yet.
Won't know for sure for about 30 more blocks.

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Quote from: codegnome on September 18, 2013, 07:38:52 PM

So let me get this right. Someone mined 3 BTC and sent it to the Labcoin wallet to cause a price spike?

Which I bought into.

How dumb am I? What kind a person does this?

Only Labcoin and a possible manipulator knows if this is true or not.

codegnome

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So let me get this right. Someone mined 3 BTC and sent it to the Labcoin wallet to cause a price spike?

Which I bought into.

How dumb am I? What kind a person does this?

matt4054

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Quote from: KCBitcoin on September 18, 2013, 07:36:01 PM

Since this payout is for a block mined 6 hours ago, that's when LC's address is not known to the public.
Therefore, a) is out.

I don't know about Slush's pool specifically, but on most mining pools with a username/pass system (vs address-only system like Eligius), you can change your payout address at any time, so there is no conclusive evidence either for or against a) AFAIK.

Bitcycle

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Quote from: dtown on September 18, 2013, 07:36:23 PM

This is probably why they wanted to wait 24 hours to show the address - they were hoping they would already have a payout.

Now that's an interesting point and would explain quite a bit.

Ukyo

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Quote from: dexX7 on September 18, 2013, 07:34:05 PM

Quote from: Ukyo on September 18, 2013, 07:12:08 PM

Actually, it's not slush finding a block, it's when the next block slush has found hits 100 confirms and can payout.

Ukyo, can you confirm the following? A user is only rewarded, when they contribute to find a block and this block receives at least 100 confirmations to be credited, as shown here: http://mining.bitcoin.cz/stats/?

Right now the newest completely confirmed block is #20087 which was mined on 2013-09-18 at 09:42:58 AM UTC. This is more than 15-16 hours ago.

This doesn't match with the fact that they are not yet mining or started to mine not so long ago:

Quote from: TheSwede75 on September 18, 2013, 03:13:06 PM

I am going to let the mining speak for itself when the pool merge is complete. I would like to note however that even with 5+ TH solo-mining it can easily take 2+ days to find a block due to variance, hence the move to pool-mining.

This is an interesting quote. If they have 5+ TH, then the 3.XXX BTC per found block on Slush is within reason.

It has been many many moons since I mined on slush although I want to say that you can change the payout address anytime before the site does a payout when a block is confirmed.

-Ukyo

velacreations

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Quote from: Bitcycle on September 18, 2013, 07:34:10 PM

This could be quite easily resolved with a simple statement from Labcoin or Swede.

We shouldn't have to guess about this.

maybe it's to their advantage to let you guess?

Zakryze

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Quote from: Pompobit on September 18, 2013, 07:34:22 PM

Quote from: matt4054 on September 18, 2013, 07:29:06 PM

Quote from: tucenaber on September 18, 2013, 07:27:46 PM

If I read it correctly, the payment was for this block https://blockchain.info/tx/c720ee6ccfe79b847162803316e00587970239f4d1508de5558802de37aa16fc (25.05503706 BTC)

Reward From Block 258588
Received Time 2013-09-18 04:58:58

This is an old block, no?

Blocks need 100 confirmations to mature and then they are paid out by the pool.

100 confirmations means 16.6 hours at 1 block / 10 min.

So, they needed to hash on the mining pool more than 17 hours ago to receive 3.x bitcoin, right?

Theswede said they were going to switch to a pool, not they already had, or I'm wrong?

Dont forget hes the Liar King

dtown

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Slush's pool pays out when your account balance crosses whatever threshold you have set. Your account balance is updated after each block the pool solves reaches 100 confirmations. 3.27 simply means that the threshold was crossed and doesn't really tell you anything about what the potential current hash rate could be. The threshold is probably set at 3BTC. You will get a better idea of the hash rate when the next payout shows up. You can also probably just ask Slush.

This is probably why they wanted to wait 24 hours to show the address - they were hoping they would already have a payout.

KCBitcoin

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Quote from: matt4054 on September 18, 2013, 07:06:14 PM

Quote from: Ukyo on September 18, 2013, 06:49:06 PM

I mined on Slush for a while.
They pay at every threshold last I know and typically once per block.
Either:
a. random person pointed their 3.x btc payout to LC's address to cause a share price spike and make it up there
b. LC is getting about 3.x btc per block on slush
C. LC had 3.x btc and lowered the threshold to allow a payout of the balance of 3.x btc.

While I would not rule out a, b and c are both promising.

-Ukyo

Option b) has just been ruled out. Slush just solved a block and no payout to Labcoin.

Now a) and c) stay open.

Since this payout is for a block mined 6 hours ago, that's when LC's address is not known to the public.
Therefore, a) is out.

tucenaber

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Quote from: Ytterbium on September 18, 2013, 07:34:01 PM

Quote from: tucenaber on September 18, 2013, 07:27:46 PM

If I read it correctly, the payment was for this block https://blockchain.info/tx/c720ee6ccfe79b847162803316e00587970239f4d1508de5558802de37aa16fc (25.05503706 BTC)

Reward From Block 258588
Received Time 2013-09-18 04:58:58

This is an old block, no?

If the reward is actually for that block, then that reward MUST have come from a miner who knew about LC's address before it was publicly posted.

In fact, even if it's for the most recent confirmed block, that's still 12h old.

If that's the case, it's unlikely this came from anywhere other then labcoin.

Are you sure about that? Can't you change the payout address at any time?

Pompobit

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Quote from: matt4054 on September 18, 2013, 07:29:06 PM

Quote from: tucenaber on September 18, 2013, 07:27:46 PM

If I read it correctly, the payment was for this block https://blockchain.info/tx/c720ee6ccfe79b847162803316e00587970239f4d1508de5558802de37aa16fc (25.05503706 BTC)

Reward From Block 258588
Received Time 2013-09-18 04:58:58

This is an old block, no?

Blocks need 100 confirmations to mature and then they are paid out by the pool.

100 confirmations means 16.6 hours at 1 block / 10 min.

So, they needed to hash on the mining pool more than 17 hours ago to receive 3.x bitcoin, right?

Theswede said they were going to switch to a pool, not they already had, or I'm wrong?

Bitcycle

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This could be quite easily resolved with a simple statement from Labcoin or Swede.

We shouldn't have to guess about this.

dexX7

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Quote from: Ukyo on September 18, 2013, 07:12:08 PM

Actually, it's not slush finding a block, it's when the next block slush has found hits 100 confirms and can payout.

Ukyo, can you confirm the following? A user is only rewarded, when they contribute to find a block and this block receives at least 100 confirmations to be credited, as shown here: http://mining.bitcoin.cz/stats/?

Right now the newest completely confirmed block is #20087 which was mined on 2013-09-18 at 09:42:58 AM UTC. This is more than 15-16 hours ago.

This doesn't match with the fact that they are not yet mining or started to mine not so long ago:

Quote from: TheSwede75 on September 18, 2013, 03:13:06 PM

I am going to let the mining speak for itself when the pool merge is complete. I would like to note however that even with 5+ TH solo-mining it can easily take 2+ days to find a block due to variance, hence the move to pool-mining.

EDIT: Ytterbium might have a point:

Quote from: Ytterbium on September 18, 2013, 07:34:01 PM

If the reward is actually for that block, then that reward MUST have come from a miner who knew about LC's address before it was publicly posted.

So "someone" would have to know about their address for at least 15-16 hours?

Ytterbium

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Quote from: tucenaber on September 18, 2013, 07:27:46 PM

If I read it correctly, the payment was for this block https://blockchain.info/tx/c720ee6ccfe79b847162803316e00587970239f4d1508de5558802de37aa16fc (25.05503706 BTC)

Reward From Block 258588
Received Time 2013-09-18 04:58:58

This is an old block, no?

If the reward is actually for that block, then that reward MUST have come from a miner who knew about LC's address before it was publicly posted.

In fact, even if it's for the most recent confirmed block, that's still 12h old.

If that's the case, it's unlikely this came from anywhere other then labcoin.

velacreations

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Quote from: Ukyo on September 18, 2013, 07:31:01 PM

Next block to payout on slush is now 31 confirms away.
So 31 * 10 = 310 minutes / 60 = 5.16 hours from now.

-Ukyo

do we need a timer?

tucenaber

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Quote from: matt4054 on September 18, 2013, 07:29:06 PM

Quote from: tucenaber on September 18, 2013, 07:27:46 PM

If I read it correctly, the payment was for this block https://blockchain.info/tx/c720ee6ccfe79b847162803316e00587970239f4d1508de5558802de37aa16fc (25.05503706 BTC)

Reward From Block 258588
Received Time 2013-09-18 04:58:58

This is an old block, no?

Blocks need 100 confirmations to mature and then they are paid out by the pool.

100 confirmations means 16.6 hours at 1 block / 10 min.

Right, but according to their statements, they are setting up the pool right now. Not yesterday.

Ukyo

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Quote from: matt4054 on September 18, 2013, 07:29:06 PM

Quote from: tucenaber on September 18, 2013, 07:27:46 PM

If I read it correctly, the payment was for this block https://blockchain.info/tx/c720ee6ccfe79b847162803316e00587970239f4d1508de5558802de37aa16fc (25.05503706 BTC)

Reward From Block 258588
Received Time 2013-09-18 04:58:58

This is an old block, no?

Blocks need 100 confirmations to mature and then they are paid out by the pool.

100 confirmations means 16.6 hours at 1 block / 10 min.

Next block to payout on slush is now 31 confirms away.
So 31 * 10 = 310 minutes / 60 = 5.16 hours from now.

-Ukyo

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 332. (Read 1079974 times)