Topic: <Litecoin duplication?> HELP (litecoin.miningpool.com) (Read 1682 times)

If I understand it correctly and according to this post, now it costs 120$ to overpower LTC for one hour. One hour is 24 blocks and claiming all block rewards is worth 24 * 50 * 0.19 = 228$. But if playing by the rules, the bad guy would get roughly half of it from legal mining of new blocks (he will be finding new blocks with a bit more than 50% probability, the rest will go to the other people). Alternatively he can disrupt the network, rewrite recent history, claim all the block rewards for himself and get some profit assuming that LTC price does not crash as a result of this attack (which I think is quite a likely scenario). I wonder if the culprit can be actually found and prosecuted if he tries to do something as evil as this?

51%ing is probably best explained by the Bitcoin wiki at https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power  .  There are a few threads that have been devoted to it here on the forum too.  At one point BitcoinEXpress threatened to 51% attack namecoin going back thousands of blocks (although I think this involved faking timestamps which as far as I know has been fixed in Litecoin).  There's a reasonably straightforward thread about how a 51% attack would work at https://bitcointalksearch.org/topic/how-exactly-would-a-51-attack-work-52388  

Fairbrix was 51%ed in its first day, which resulted in around 1600 blocks which had been mined becoming orphaned and the 50 Fairbrix block rewards for each of those blocks disappearing from people's wallets, including mine ( https://bitcointalk.org/index.php?topic=46626.60  ).

I don't know of any businesse currently accepting LTC, and can't find anything on the Litecoin wiki about this, but I'd guess/hope that there may be some soon - bear in mind Litecoin is still very young.  

According to the mid-price at btc-e, 23 litecoins are currently worth about 19 cents.  Personally I'd say hold them at the moment - if things happen like Bitcoin, they could appeciate quite a bit.  

Back on topic again...when I replicated the duplicate payout problem I used two different browser windows.  A wait feature (say javascipty stuff) on the button is a nice idea but it wouldn't necessarily work, as it wouldn't affect the second browser window.

(back on topic)
Can you use coding to add a wait feature into the manual payout button?
you would click and the button deactivates immediately while it gets processed. that way the bug wouldnt occur again, and you could still have the manual payouts.

What exactly is 51%ing? I've heard that term quite a lot.
Do we have any services that are currently accepting litecoins? Is there a list, or are they currently just used against the price of bitcoins?
I've only got ~23 litecoins, so that is what, 46 cents?
I dislike the fact that they're so cheap, but it's still early in the game. Should I be holding on to them or spending?
I would really like to use this currency, since my computers are too lame to run bitcoin miners, and I'd LOVE to see this get off the ground, but I don't see that happening unless business start accepting.

That's the big thing we need to get Litecoin popular - merchants and businesses who trade in LTC (and ideally some that trade at least some goods in LTC-only which would create a real demand for Litecoins).  For the near future, I'd hope for some relatively low-price businesses to start accepting them to begin with.  

My thought is that the 51% problem and low current global hashrate would make it too much of a risk for anyone to think of, selling high-cost stuff in Litecoins currently for example selling a house for Litecoins, in case of a 51% attack and a blockchain reorganisation...although I must admit to not quite fully understand the technical details of 51 percenting and reorganisations...I think I've read that 51 percenting would not necessarily cancel/reverse transations but someone who understands the C++ code of Litecoin like Coblee would probably be able to give a fuller answer to this.  

Alright, thank you. I noticed it gave me a negative amount and I'm working towards paying that off. I wouldn't feel right by stealing those coins like that accidentally.

 And also, while I'm here, what businesses currently accept litecoin? I'd use bitcoin but all I have is this laptop and my friends. I've looked everywhere, but all I can seem to come up with is exchanges for litecoin to bitcoin/usd.

Thanks for mentioning this, mrmalign.  The two payments to you were separate transactions :
810109cfb0ff869c18a563073188669e768395f29b89dea9638a1c4edf3fd4b4
and
2e97399b7b43c9d279a914f19b807cf4cdeb6228b66ddb628d1267021b7d5592

It seems that the manual payouts were taking a few seconds to send from the pool (possibly because of the dust-spam in the pool's wallet from a couple of weeks ago).  I've checked this myself and if you pressed the payout button a second time before the first payout had completed, a second payout of your balance would send (which also would therefore create a negative overall balance on your pool account, as you had received the balance twice).

I've deactivated manual payouts for now - all members can still use the automated payout system which makes payouts every 40 minutes.

I recently cashed out 2.13965418 litecoins from litecoin.miningpool.com. It double charged it to my account, and I received twice as many. How did this happen, what does it mean, and where did the extra litecoins come from? Did I just accidentally duplicate them, or what?

I'm thoroughly confused as to what happened. 

Also, if you'd like to donate:

LhBN7eTKTjBCgYKB58Y95AeefV7rUrd3hi