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Topic: rpietila Altcoin Observer - page 81. (Read 387491 times)

legendary
Activity: 1708
Merit: 1049
August 20, 2014, 12:47:05 AM
Litmus Test for Software Excellence

Driven by the desire to use his or her own creation, is often the genesis of the excellent software successes.

Who involved with any of the coins discussed here is leading the development because of their personal intense desire to use certain features that are not available in any other coin? How much of their life is involved every day in using these features?

From this, I bet we can determine which if any coins have any chance of succeeding big time.

As a sidenote since you are big into IP obfuscation improvement:

Evan is planning to build an IP obfuscation network with the masternodes of DRKcoin, when work with DarkSend is complete... DarkTor or something. You might want to help with the specifications or provide feedback (?). You are good at nailing all those "oh that won't work" issues so that Evan will have to find the workarounds Cool He's still working on DarkSend for now, but work will commence in a month or two for the DarkTor, from what I understand.

https://darkcointalk.org/threads/development-update-august-19-2014.2086/

...he also had a proposed plan for the IP obfuscation aspect of DarkSend posted here:

https://darkcointalk.org/threads/development-update-july-30th.1924/
sr. member
Activity: 364
Merit: 250
August 19, 2014, 10:15:53 PM
We've had a big move up in the last 30 or so hours.  That doesn't surprise anybody who trades alts.  How does your portfolio compare with the market as a whole?


Just curious, do you have any data on proof-of-work coins versus those which cannot be mined, e.g. pure proof-of-stake coins?

I sure don't, but that is a very, very interesting concept.  I like it.

I'm getting some help from another forum member to put together a little minimum viable product model for this info, just to see if people want it.  (Not sure if he wants to be revealed, so I won't for now.) As a trader, I sure as hell do.  It has driven me crazy that there isn't anything good out there.

I'd think that it would be very informative to look at PoW and PoS indexes.  I think we'll probably have to cut back, for example, by eliminating the price-weighted indexes above, possibly.  Let me do a little poking around.  I might be able to look at PoW vs. PoS in the history I've got saved.
hero member
Activity: 686
Merit: 501
Stephen Reed
August 19, 2014, 09:02:48 PM
We've had a big move up in the last 30 or so hours.  That doesn't surprise anybody who trades alts.  How does your portfolio compare with the market as a whole?


Just curious, do you have any data on proof-of-work coins versus those which cannot be mined, e.g. pure proof-of-stake coins?
sr. member
Activity: 364
Merit: 250
August 19, 2014, 08:53:50 PM
We've had a big move up in the last 30 or so hours.  That doesn't surprise anybody who trades alts.  How does your portfolio compare with the market as a whole?

Here's a little update on the indexes I've been tracking.  

Index 1: cap-weighted, includes all cryptos except BTC was 61.92 30 hours ago, now at 72.75
Index 2: cap-weighted, includes all cryptos except BTC and LTC was 69.88 30 hours ago, now at 77.88

(LTC is still dragging down Index 1, but it has recovered with a little more strength as of right now)

Index 3: cap-weighted, includes a basket of 31 NON-LTC cryptos selected by cap/volume metrics was 63.86, now at 74.03
Index 4: cap-weighted, includes the basket of 31 PLUS LTC was 58.31, now at 70.47

(I still think Index 3 is actually the closest to what I'm trying to accomplish, which is to judge the general movement of the alt market as a whole.  REALLY interesting, IMO, to note that LTC dragged index 4 lower.  But the recovery of LTC didn't mean that index 4 has recovered stronger, as we found with Index 1 compared to Index 2.  My theory is that this justifies the basket selection as a good arbiter of alt direction.)

Index 5: price-weighted version of Index 3 was 56.01, now at 80.79
Index 6: price-weighted version of Index 4 was 54.72, now at 77.20

(Dow Jones is price-weighted.  S&P, Russell, most others are cap weighted.  I just set these up to see if there would be much difference.  Again, LTC provides downward weight.  Looks like these indexes are also more volatile.)

Meta index is 75.15.  This contains elements of all above.  

TL:DR If your alt portfolio is anything like the alt market as a whole, you may have been down 40%.  As of now, you're probably down 25%. If you're doing worse, you might either own LTC or you might be holding some of the alts that aren't in the top 50 in market cap, as they seem to be performing just a little bit worse.
legendary
Activity: 1176
Merit: 1015
August 19, 2014, 08:50:56 PM
I'm not sure how true this is, it seems like coinbase is doing basic level bitcoin transaction tracking. This is perhaps a real world example of how Monero is superior to Bitcoin.

http://www.reddit.com/r/poker/comments/2dxuqw/be_careful_seals_users_coinbase_has_blocked_me/
hero member
Activity: 686
Merit: 501
Stephen Reed
August 19, 2014, 08:49:08 PM
Here is the one-day resolution price chart for dogecoin vs Chinese Yuan from the Bter exchange. The last green candle suggests the beginning of a trend reversal but it is not as convincing yet as the equivalent litecoin chart.

hero member
Activity: 686
Merit: 501
Stephen Reed
August 19, 2014, 08:33:03 PM
Here is the 1-day resolution chart of Litecoin from BTC-e. Ignore the June 30 candle whose price action was not present on the more liquid Chinese exchanges that day. I believe that litecoin is possibly reversing trend and could test resistance near $7, especially if bitcoin prices have reversed trend and rally for some days. On the other hand, if litecoin does not rally towards $7, a dampened oscillation pattern suggest prices converging in a few days at $5,50.

legendary
Activity: 2968
Merit: 1198
August 19, 2014, 07:38:09 PM
Also, 'dust' is the atomic unit of 'bloat.'

Did I get that right?

No you didn't.

Dust refers to very small outputs that are either unspendable by network rules or uneconomical to spend since transaction fees would be too high.

Bloat means, well, pretty much whatever the person saying it doesn't think is a good use of space.

donator
Activity: 1274
Merit: 1060
GetMonero.org / MyMonero.com
August 19, 2014, 07:31:25 PM
The clarification is much appreciated.  My understanding is that BBR ring sig pruning linearly reduces blockchain bloat, but is not the holy grail of transaction pruning required for logarithmic bloat reduction of the kind found in XCN's mini-blockchain.

To be clear, ring sig pruning prevents a little bit of bloat, while transaction pruning removes substantial accumulated bloat.

Also, 'dust' is the atomic unit of 'bloat.'

Did I get that right?  What do I win?   Cheesy

Spot on. Linear reductions are easy. Logarithmic are significantly harder. For your efforts you get a whale.

In CryptoNote coins ring signature is 60-90% of transaction size. With pruning ring signatures you get 60-90% smaller blockchain, compared with other cryptonote coins, you win only this here.

Yes, that is a correct example of linear. You get a whale too!

PS. In your next botnet / cryptocurrency / library project please do Star Wars references, they're a great deal more palatable than the Futurama references. And then that way you can say "I love you" and I can say "I know"Wink
hero member
Activity: 976
Merit: 646
August 19, 2014, 07:01:08 PM
Apologies if this is a duplicate, but trying to add more actual information to the pile of cryptonote derivatives -- BBR's Zoidberg wrote up a whitepaper about his Blockchain PoW construction and its realization in Wild Keccak:

http://boolberry.com/files/Block_Chain_Based_Proof_of_Work.pdf

As a follow-up to his earlier explanations of
  Improved anonymity:  http://www.slideshare.net/boolberry/boolberry-solves-cryptonoteflaws-37055246
  Blockchain pruning:    http://www.slideshare.net/boolberry/boolberry-reduces-blockchain-bloat

I'm sure there will be pushback on these as there was to the others, but kudos to him and the Boolberry team for putting it out there for others to read, steal from, and criticize.  (Disclaimer:  I looked at an earlier draft of this one and provided some minor writing feedback.  I'm not an author of it and am not part of the BBR team.)

But...but...

Sorry - I've updated my original post to more correctly note the second presentation is about ring signature pruning, not blockchain pruning, as was discussed at length earlier in this thread.  Mea culpa for the uncareful phrasing. Smiley

The clarification is much appreciated.  My understanding is that BBR ring sig pruning linearly reduces blockchain bloat, but is not the holy grail of transaction pruning required for logarithmic bloat reduction of the kind found in XCN's mini-blockchain.

To be clear, ring sig pruning prevents a little bit of bloat, while transaction pruning removes substantial accumulated bloat.

Also, 'dust' is the atomic unit of 'bloat.'

Did I get that right?  What do I win?   Cheesy

In CryptoNote coins ring signature is 60-90% of transaction size. With pruning ring signatures you get 60-90% smaller blockchain, compared with other cryptonote coins, you win only this here.

XCN is very interesting project, unfortunately i can't see possibility to build account tree on CryptoNote base(as well as utxo) due to anonymity/unlinkability.

legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
August 19, 2014, 06:49:47 PM
Apologies if this is a duplicate, but trying to add more actual information to the pile of cryptonote derivatives -- BBR's Zoidberg wrote up a whitepaper about his Blockchain PoW construction and its realization in Wild Keccak:

http://boolberry.com/files/Block_Chain_Based_Proof_of_Work.pdf

As a follow-up to his earlier explanations of
  Improved anonymity:  http://www.slideshare.net/boolberry/boolberry-solves-cryptonoteflaws-37055246
  Blockchain pruning:    http://www.slideshare.net/boolberry/boolberry-reduces-blockchain-bloat

I'm sure there will be pushback on these as there was to the others, but kudos to him and the Boolberry team for putting it out there for others to read, steal from, and criticize.  (Disclaimer:  I looked at an earlier draft of this one and provided some minor writing feedback.  I'm not an author of it and am not part of the BBR team.)

But...but...

Sorry - I've updated my original post to more correctly note the second presentation is about ring signature pruning, not blockchain pruning, as was discussed at length earlier in this thread.  Mea culpa for the uncareful phrasing. Smiley

The clarification is much appreciated.  My understanding is that BBR ring sig pruning linearly reduces blockchain bloat, but is not the holy grail of transaction pruning required for logarithmic bloat reduction of the kind found in XCN's mini-blockchain.

To be clear, ring sig pruning prevents a little bit of bloat, while transaction pruning removes substantial accumulated bloat.

Also, 'dust' is the atomic unit of 'bloat.'

Did I get that right?  What do I win?   Cheesy
legendary
Activity: 2968
Merit: 1198
August 19, 2014, 06:32:59 PM
There's also the issue of verification speed, which with the current implementation of Cryptonote *is* an issue, though I think we both agree that it's "just" a matter of engineering.  Again - it's nice that the WK design reduces the need for extra attention paid to high-performance coding, because trying to make things fast and correct is harder than just making them correct - but this is also something that can be resolved empirically.

We looked at this a little after someone complained about it, on this thread I think. It turned out that the biggest problem, by far, is not verification, but that the blocks are being delivered multiple (as in many) times during synchronization. We have someone assigned to debug it. Once that is fixed we can take another look.



dga
hero member
Activity: 737
Merit: 511
August 19, 2014, 06:30:07 PM
Apologies if this is a duplicate, but trying to add more actual information to the pile of cryptonote derivatives -- BBR's Zoidberg wrote up a whitepaper about his Blockchain PoW construction and its realization in Wild Keccak:

http://boolberry.com/files/Block_Chain_Based_Proof_of_Work.pdf

As a follow-up to his earlier explanations of
  Improved anonymity:  http://www.slideshare.net/boolberry/boolberry-solves-cryptonoteflaws-37055246
  Blockchain pruning:    http://www.slideshare.net/boolberry/boolberry-reduces-blockchain-bloat

I'm sure there will be pushback on these as there was to the others, but kudos to him and the Boolberry team for putting it out there for others to read, steal from, and criticize.  (Disclaimer:  I looked at an earlier draft of this one and provided some minor writing feedback.  I'm not an author of it and am not part of the BBR team.)

But...but...

Sorry - I've updated my original post to more correctly note the second presentation is about ring signature pruning, not blockchain pruning, as was discussed at length earlier in this thread.  Mea culpa for the uncareful phrasing. Smiley
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
August 19, 2014, 06:17:14 PM
Apologies if this is a duplicate, but trying to add more actual information to the pile of cryptonote derivatives -- BBR's Zoidberg wrote up a whitepaper about his Blockchain PoW construction and its realization in Wild Keccak:

http://boolberry.com/files/Block_Chain_Based_Proof_of_Work.pdf

As a follow-up to his earlier explanations of
  Improved anonymity:  http://www.slideshare.net/boolberry/boolberry-solves-cryptonoteflaws-37055246
  Blockchain pruning:    http://www.slideshare.net/boolberry/boolberry-reduces-blockchain-bloat

I'm sure there will be pushback on these as there was to the others, but kudos to him and the Boolberry team for putting it out there for others to read, steal from, and criticize.  (Disclaimer:  I looked at an earlier draft of this one and provided some minor writing feedback.  I'm not an author of it and am not part of the BBR team.)

But...but...smooth said

If removing (non-mining) transaction dust and the resulting bloat is "trivial" then why is XMR lagging behind BBR in implementing that feature?

Stop being a troll and an idiot please.

Look at the BBR list of features and I quote (with bold emphasis added):

Quote
Removed Dust from block reward to reduce block chain size even more

The change in BBR is removing of mining dust, as I said.
dga
hero member
Activity: 737
Merit: 511
August 19, 2014, 05:47:18 PM
I suggest we give him some space to fix it, and move on to actual issues of substance.

Fair enough. In that case, "Wild Keccak" doesn't provide sufficient substance over alternative algorithms to be worthy of much consideration, in-my-most-humblest-of-opinions-without-offending-Michael.

*shrugs*  That's fine, but let's consider it on its actual merits instead of trading thinly-veiled sarcasm. :-)

+ WK offers faster block verification than CN.
- WK can be searched in parallel, scalably, limited only by the die area you want to devote to Keccak processing.
? WK requires an amount of fast storage that scales linearly with time -- how this interacts with Moore's law is complicated, and whether or not its scratchpad will be overtaken by lithographic advances is something my crystal ball can't handle.
-> At present, WK's parallelism is thus limited by DRAM bandwidth for 256 bit reads, because the scratchpad size has already slipped out of L3 cache on most CPUs.

As a result of this, the GPU/ASIC resistance of WK is determined almost entirely by its scratchpad.  This is interesting -- it's like scrypt-adaptive-N with an automatic way of scaling the amount of memory required, but without the verification slowdown of increasing N.

- CN has poor block verification performance.  This may have negative implications both for the time to bring new nodes online, but also for block-flooding DoS resistance.
+ CN's use of AES is well-matched to functionality already optimized in silicon on CPUs.
+ CN cannot be searched in parallel, to the best of my knowledge, without a corresponding increase in the number of 2MB scratchpads used for searching.  This occurs because the scratchpad is modified during the search, a key differentiator from prior work such as scrypt.
=> As a consequence, the parallelism available for CN is limited by die area for an L3-based approach, or by DRAM bandwidth with 128bit reads for a DRAM-based approach.

For both, at the present time, GPUs are the most efficient way to mine them (though more so for WK).  Both take a DRAM-bandwidth-based approach, storing the scratchpad(s) in RAM and using thread parallelism to mask the access latency.  WK's use of 256 bit reads and Keccak makes it a little more GPU-friendy, but the major difference between the two on GPU is due to the use of AES in CN.  On an ASIC, the "Aes-is-in-hardware-on-x86" advantage disappears, and the 128 vs 256 bit differences will be only modestly important (I'd guess 30%, but that's pulled out of thin air).

edit:  I should clarify this:  CN's better ratio for GPUs-vs-ASIC disappears.  the CPUs will still keep their advantage relative to the GPUs, so the CPU/ASIC ratio of CN should be a little better than the CPU/ASIC of WK.  But the GPU/ASIC ratio for both should be relatively similar, affected mostly by 128 vs 256 bit dram reads.

So:  I do see a major advantage to Wild Keccak at this time in terms of its fast verification coupled with near-term relative CPU/GPU/ASIC balance.  But it's an advantage that depends heavily on longer-term technology trends of continued lithographic scaling.  Both schemes are vulnerable to large jumps in DRAM bandwidth enabled by future technologies such as tsv-stacked DRAM, but that's a little farther out in the crystal ball, and my best guess is that the manufacturing difficulties of stacked DRAM won't be ironed out to the point where it would be usable for cheap crypto mining in the next 5 years.

To me, this boils down to whether or not there are effective flooding DoS measures that can be implemented for the Cryptonotes without requiring a block verification.  There probably are.  But it's nice that WK makes it harder to mount *this particular* computational attack against nodes.  It'd be interesting for someone to poke at that a little and see how bad the problem really is, instead of us speculating into the air about it. Smiley  There's also the issue of verification speed, which with the current implementation of Cryptonote *is* an issue, though I think we both agree that it's "just" a matter of engineering.  Again - it's nice that the WK design reduces the need for extra attention paid to high-performance coding, because trying to make things fast and correct is harder than just making them correct - but this is also something that can be resolved empirically.
donator
Activity: 1274
Merit: 1060
GetMonero.org / MyMonero.com
August 19, 2014, 04:29:42 PM
I suggest we give him some space to fix it, and move on to actual issues of substance.

Fair enough. In that case, "Wild Keccak" doesn't provide sufficient substance over alternative algorithms to be worthy of much consideration, in-my-most-humblest-of-opinions-without-offending-Michael.
dga
hero member
Activity: 737
Merit: 511
August 19, 2014, 04:24:09 PM
Unconscionable? The way you over react to anything negative (real or perceived) about your adopted cryptocurrency bemuses me.

Michael, I did not create the CryptoNight PoW, nor am I particularly attached to it. I am, however, against blatant incorrectness in a technical document, and would be just as vehement if the incorrectness were about scrypt. This is not the first time I've reacted this way - in this very forum I've passionately argued against incorrectness in all manner of "whitepapers" dished out by "developers" regardless of whether or not it relates to something I'm involved in.

That you feel the need to pop your head in and pass a smug and arrogant comment is not unsurprising, but it would behove you to tread carefully, as such behaviour reflects extremely poorly on the cryptocurrency you represent.

Come now, let's nip the antagonism in the bud.  The "unconscionable" word was a bit...insensitive...but not worth starting a feud.  BBR and XMR should be able to cooperate well, to mutual benefit, and overblown rhetoric won't help either.  Oil on the water, please.  (And no smoking.)

I stand by the turn of phrase I used. Lying, or misrepresenting a fact that he should know, in a formal technical document is unconscionable. In fact, I agree with everything else he said about the algorithm, but that entire last sentence is unnecessary and disingenuous. I'd expect something like this from a Newsweek reporter, but not from somebody who obviously understands the facts of the matter and is writing a technical document. If it was a developer working for me they would be in a disciplinary hearing, but spending a few years C-level at a listed company has maybe made me overly demanding.

I do not claim or pretend to be a dispassionate person.

Deep breaths.  The phrasing in the whitepaper could be very easily attributable to a difference in phrasing due to Zoidberg not being a native speaker of English.

I, for one, *didn't* read it in the way you're choosing to interpret it, but we're both probably reading our own preferred meanings into it ("Protect from" meaning "to prevent being utterly destroyed by ASICs" vs "prevent ASICs from existing").

It seems very reasonable to request a rephrase, and you've done so, and I hope C_Z will be responsive to that to eliminate any ambiguity, but calling this "unconscionable" is creating an impressive mountain out of what should otherwise be a relatively small difference in interpretation of one sentence.

I suggest we give him some space to fix it, and move on to actual issues of substance.

Re Cuckoo Cycle, as an embedded follow-up:  I hope to do one more round of attacks against CC before I declare myself out of ideas.  I'll update my document about it when I have a chance.  I think we're getting closer to actually understanding it.
hero member
Activity: 518
Merit: 521
August 19, 2014, 04:18:16 PM
What do you think about the fact that Vitalik seems to be convinced that Bytemaster's DPoS system is superior to PoW? I ask you especially since you have been Bytemaster's biggest critic from what I can tell.

Why PoS can't remain decentralized. The 'D' in front of PoS doesn't overcome the issue.

In my opinion, the roadblock everyone seems to have with designing the correct PoW is they analyze it as a technical problem instead of as an economic problem.

If electricity and capital costs are correlated to price via difficulty, then PoW is also centralizing due to the power-law distribution of wealth and the debt financing economic model of the power vacuum of democracy.

All crypto-coins to date are centralized mining deceptions:

http://letstalkbitcoin.com/blog/post/bino

So yeah DPoS could be superior for some metrics he finds useful or expedient, but it won't remain decentralized long-term.
legendary
Activity: 826
Merit: 1002
amarha
August 19, 2014, 03:22:14 PM
The error will, of course, be corrected ASAP.

Hey isn't that what Github or bugzilla are for? When was anything perfect on the first draft.

This thread is getting noisy (I was was wishing I could ignore that thread of discussion). More interesting and higher S/N ratio when we discuss higher level analysis.

Risto are you still moderating? Please delete this post (hopefully before it is archived by bitcointa.lk).

If I had an altcoin and the other altcoins wanted to write incorrect statements in their whitepapers and technical documentation, I wouldn't waste my time correcting them. The more mistakes and constrictor gordion knots they tie themselves in, the better.

Degrees-of-freedom baby, i.e. decentralization. Without it, gridlock.

What do you think about the fact that Vitalik seems to be convinced that Bytemaster's DPoS system is superior to PoW? I ask you especially since you have been Bytemaster's biggest critic from what I can tell.
legendary
Activity: 2716
Merit: 1017
Join the world-leading crypto sportsbook NOW!
August 19, 2014, 02:18:04 PM
I think by taking a look at older alts, youre only going to find dying coins...The newest alts are always going to be the ones with the "potential". You just have to hope that bitcoin will blow up and bring some of the alts with it...and  it wont be DRK or BC or LTC. Its going to be whatever coin is hot at that time. For me Aerocoin is my right now, but ill change it if it doesnt get mainstream attention.
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