There are not any risks to not using a registration system. If anything it is more secure than a pool that uses a registration system, no one can get your password and get into your account and change your wallet address. It puts the responsibility on you. Whatever wallet address you use as a username that's where the money goes. If you ask me having a registered account is quite unnecessary and the other pools that use systems like that have had to institute additional security precautions like email confirmation and white-listed IP addresses because that system is so insecure.
A perfect example is the several pools that have had their sql databases compromised and the worst part of that being a lot of people use the same password for everything, what a security nightmare, some script kiddie does a mysql injection attack and owns pushpool-x's database, now passwords and email addresses are leaked that probably work all over the place, gmail accounts, forum accounts, mtgox accounts, dwolla accounts it goes on and on.
Pools that have registration are much much more riskier than the system Luke-Jr uses.
Topic: [OLD] Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 # - page 176. (Read 458487 times)
October 16, 2011, 08:08:47 PM
October 16, 2011, 07:59:46 PM
Moving from another pool, that was how it worked so i'm confused.
Other pools award the POOL the coins. They pool then waits 120 confirmations and then send you the coins as a seperate transaction. You technically don't receive coins from the block. You are paid from the pool and then wait 6 MORE confirmation.
Eligius works differently. The pool isn't the block reward. You are paid the block reward directly and thus bitcoin network requires you to wait that 120 confirmations (same as the pool does in most pools).
The simple answer is:
Eligius - you are paid directly from the block generation
Other pools - block generation -> pool -> you
Thanks for the explanation. I got it now.
As far as NMC mining, we cant see how much we're generating?
Oh one last thing..
Is there a reason why we dont use registration system like other pools? like we will have miners and password...etc?
Is it safe the way we're doing with just address? What are the potential risks?
October 16, 2011, 04:50:56 PM
Isnt the usually confirmation of a transaction 7? When i sent/received BTC, its unconfirmed until 6 confirmations. Hope you dont mind me asking..
The number of confirmations to make a transaction "confirmed" are an arbitrary point where you decide to trust it as permanent. The current network protocol has an arbitrary "new coins can't be sent until 100 confirmations" bug-by-design for safety. Everything else is entirely client-side and you can modify if you want. 
October 16, 2011, 04:21:48 PM
Moving from another pool, that was how it worked so i'm confused.
Other pools award the POOL the coins. They pool then waits 120 confirmations and then send you the coins as a seperate transaction. You technically don't receive coins from the block. You are paid from the pool and then wait 6 MORE confirmation.
Eligius works differently. The pool isn't the block reward. You are paid the block reward directly and thus bitcoin network requires you to wait that 120 confirmations (same as the pool does in most pools).
The simple answer is:
Eligius - you are paid directly from the block generation
Other pools - block generation -> pool -> you
October 16, 2011, 04:17:31 PM
virgin coins 
October 16, 2011, 04:11:02 PM
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
This is an issue with how your client displays it. 1.166xxx BTC was sent, but your client is neglecting to display it until it's confirmed XXX more blocks.Isnt the usually confirmation of a transaction 7? When i sent/received BTC, its unconfirmed until 6 confirmations. Hope you dont mind me asking..
Moving from another pool, that was how it worked so i'm confused.
Old bitcoins have the 6-7 transfer rate.
newly mined coins need 120 confirmations, inorder to rule out an orphaned block (thus void bitcoins)
October 16, 2011, 04:10:24 PM
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
This is an issue with how your client displays it. 1.166xxx BTC was sent, but your client is neglecting to display it until it's confirmed XXX more blocks.Isnt the usually confirmation of a transaction 7? When i sent/received BTC, its unconfirmed until 6 confirmations. Hope you dont mind me asking..
Moving from another pool, that was how it worked so i'm confused.
Other pools send you coins that have already been generated, these are completely new coins.
October 16, 2011, 04:05:41 PM
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
This is an issue with how your client displays it. 1.166xxx BTC was sent, but your client is neglecting to display it until it's confirmed XXX more blocks.Isnt the usually confirmation of a transaction 7? When i sent/received BTC, its unconfirmed until 6 confirmations. Hope you dont mind me asking..
Moving from another pool, that was how it worked so i'm confused.
October 16, 2011, 04:05:00 PM
First time using this type of pool, so excuse my question
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
It means what it says... it matures in XXX blocks (starts at 120). Once that countdown is done your balance will go up. The whole network produces 144 blocks per day on average, so it's about a 20 hour wait.
Oh i thought the 120 confirmation count down was on the status page. There are several blocks found for the past 24hrs and the countdown is " 36 left, 42 left...., 103 left"
So what are those countdown then?
October 16, 2011, 04:02:42 PM
First time using this type of pool, so excuse my question
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
It means what it says... it matures in XXX blocks (starts at 120). Once that countdown is done your balance will go up. The whole network produces 144 blocks per day on average, so it's about a 20 hour wait.
Oh i thought the 120 confirmation count down was on the status page. There are several blocks found for the past 24hrs and the countdown is " 36 left, 42 left...., 103 left"
So what are those countdown then?
October 16, 2011, 04:01:36 PM
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
This is an issue with how your client displays it. 1.166xxx BTC was sent, but your client is neglecting to display it until it's confirmed XXX more blocks. 
October 16, 2011, 03:35:06 PM
First time using this type of pool, so excuse my question
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
It means what it says... it matures in XXX blocks (starts at 120). Once that countdown is done your balance will go up. The whole network produces 144 blocks per day on average, so it's about a 20 hour wait.
October 16, 2011, 03:33:49 PM
Just wait until your "XXX blocks" have been found (by the entire network). Then you can use your generated BTC.
Check block count here, there *should be* a block every 10 minutes.
Check block count here, there *should be* a block every 10 minutes.
October 16, 2011, 03:29:48 PM
First time using this type of pool, so excuse my question
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
My BTC client says ".. generated 1.166xxx BTC.. matures in XXX blocks ". What does it mean? My balance is still 0.00
When i clicked on the transaction log of the address, there is one transaction to my address with the above amount.
October 16, 2011, 11:34:42 AM
You can check your NMC addresses here: http://explorer.dot-bit.org/
October 16, 2011, 09:45:16 AM
I registered my namecoin address. Is there any way I can view it later, using my BTC address as an input?
+1 I registered my NMC address but on the status page using my BTC address, it still says "If you would like to get Namecoins in addition to Bitcoins, please click here to register your NMC address. "
Is there a way we can check on our NMC status?
October 15, 2011, 10:46:14 PM
I registered my namecoin address. Is there any way I can view it later, using my BTC address as an input?
October 15, 2011, 08:53:19 PM
Probably by hand once every 2-3 days until I get the new system done. Retroactive NMC address registrations will only apply until that initial "week" is over, after which registrations will only affect future mining.
thanks for the update Luke-Jr keep doing what you do
October 15, 2011, 07:28:05 PM
If have multiple miners (computers), i can just use one address to mine right?
Is there a problem doing that?
No problem Is there a problem doing that?
October 15, 2011, 06:45:14 PM
If have multiple miners (computers), i can just use one address to mine right?
Is there a problem doing that?
Is there a problem doing that?
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