Topic: [SDC] ShadowCash | Welcome to the UMBRA - page 135. (Read 1289712 times)

Looks like just a big miner to me. He appears to have been the only one in the game for a while, but the time period is only for a couple of hours. Anything can happen over a couple of hours, pools go down, people are sleeping etc. Scrypt wasn't a bad choice, there are Scrypt ASIC farms out there but still plenty of GPU mining too, and I don't think a new coin is going to take the big players off Litecoin any more than a new SHA-256 coin is going to take petahashes off Bitcoin. Most new coins are crap and everybody knows it. I would have chosen a different algorithm, but that's just me and I'm not a dev. 

Your claim is incredibly unsound. You could point to any fucking pool and say "hey look this is shady, they mined 6.25% of the coin supply."

Twice you mentioned you were not on the team in those days. You are  no fool.

Furthermore you, as an expert, cannot invalidate my claim that is a shady addy

If you think I posted the above for you, you are clearly misguided. I could care less what you think or pretend to know because clearly you disregard everything that does not fit your "deluded mindset".

Do yourself and everyone else a favor and leave like you said you was going to half a dozen times.
You have your own thread which is full of your delusion and lies; so go and enjoy your lonely existence.

^^ In response to the nonsense your posted on your own thread about me doing an investigation "in order to restore faith" .. I did the investigation to provide facts and by doing so proved you pretend to understand something you clearly do not. Like your imaginary developer Ivan and your sock puppet accounts you use to bump your own thread.

What can I say?

The address being debated:
http://shadow.blockexplorer.cc/address/SYnHd6uBbbiXitR235TTysjqLRiRDxFbZ8

1.No tx's to connect the alleged solo mining addy to a known mining pool (good) addy
2 Actually the suspiciosu addy demonstartes diff behaviour fom a pool addy since it does not give out regular payouts and the balance only grows (thats why i got suspicious in the 1st place)
3 Could have been Chinese guys? OK

4 thanks for your honesty. as I have read twice from your post  above you were not there in the beginning. Noted.

The distribution of SDC looks really fair compared to a lot of other coins. Hard to figure how some people find red flags in almost everything, but no one ever said Crypto wasn't a risky venture. You can't make money without  volatility. Wish I would have discovered this coin sooner, but I was operating with tunnel vision at the time.
I look at current prices as a great opportunity to stake a position. I believe SDC has a good chance of making it into the top 5 or 10 coins in the near future. Certainly better odds of turning a few bucks into a fortune than you will have with most investments in your lifetime...

http://shadow.blockexplorer.cc/richlist/

Those who are worried about the risks should find something more productive to do with their time instead of harping on paranoia.

So interestingly as someone who was not around during the PoW phase of Shadow I though I would look at how things played out.

1. ~20,000,000 Supply
Firstly notice the "~" this means "approximate" .. if you calculate total # of blocks * height the MAX SUPPLY was 19,952,120 (if every block was PoW)

2. Max Height = 50,000 blocks & 8 Hours PoS Min Stake
a. It is quite clear that at block 50,000, PoW would no longer be accepted by the network.
b. It is also quite clear that after 8 hours (>500 block maturity) you can "stake" your coins.

3. Claim that "chickenstrips" was official pool and that no other pools was present
Looking at the thread I see both of these claims as false.
a. "sdcoin" gave at least 2 hours notice before the start of mining
b. chickenstrips was available for pre-reg over 70 minutes before the mining started
c. second pool was available 60 mins after launch
d. third pool was available 85 mins after launch
e. etc etc
f. numerous people post that they were able to solo mine at launch

4. The big bad "solo miner"
I see nothing to suggest that the said address is a "solo miner"... Could it have been a select group of miners? like the Chinese ASIC that everyone wispers about in BCT? Could be who knows.
Can I say with absolute certainty that this address was a "solo miner"? No ... but I can equally not say with certainty if I had not already known that the "chickenstrips" address was a pool because both addresses show the same behaviours.
The suggesting that this was a "solo miner" is just "speculation at best".

5. The effect of 1,2,3 and 4 on the Coin Supply.
Like I said earlier, I was not around during the launch so cannot speak for what the state of the network mining was however what is clear is:
a. July 30th "sdcoin" announces that Max Height is to be reduced from 50,000 to 31,000.
b. At ~30,000 Block Height the Coin Supply was roughly 6.15M
c. Therefore if the mining had lasted the original 50,000 blocks the MAX SUPPLY would have been <10M due to the effects of the hybrid PoW/PoS mining. Infact in the blocks I analysed from the last few days of mining a large % were PoS.
d. Changing the max height requires consensus ... it is a hard fork. The miners/pools voted in favour by upgrading to that version. They were not forced to.


6. Unfair launch
You can make your own decisions about if this was a unfair launch or not; I have stated the facts above without any of the nonsense or other hidden agenda.

All of this info has been taken from the original thread + inspection of the blockchain.

I believe (unresearched claim) that the first scrypt ASICs started appearing in March/April of 2014. Therefore it was most profitable for these ASICs to be pointed at Litecoin well throughout the PoW phase of SDC. It was unforeseen that these ASICs would be pointed at a new coin like SDC.

After Chickenstrips goes down (as reported in the original thread), 4 new mining pools are posted with a page of the thread. So your claim of "chaos" is extremely farfetched.

Scrypt ASICs existed when SDC launched and SDCDev justified its use by saying "scrypt is tried and tested".
Even on page one you can see some comments expressing concern about the choice of scrypt.

To then act surprised when solo ASIC miners join the fun is spurious at best. Anynody can buy/rent a scrypt ASIC and I expect this was also true then.

The only pool open for pre-reg Chickenstrips (chickenstripes?) and listed on the original OP crashed hard only 30 blocks after the first 120 "fair launch" 1SDC reward blocks. Chaos IMO.

I have actually decided to review this and will shortly posting my findings.
FACT there was never a concrete 20M Coin Supply .. you're inability to understand basic PoW/PoS hybrid mining is the issue here. Regarding the reduction of mining period and its real effect I will also review and post FACTUAL figures v.s. assumptions/speculation

- I've always found 6 million coins a much better distribution than 20 million... especially for Proof of Stake coins. I don't know why the choice was made to go from 20 to 6 but, as an investor, I like the decision. I've done the research, vetted it, and nobody is going to change my mind.

- We've already discussed if Proof of Stake becomes a corrupt/broken method of securing/ rewarding the network that the coin can go back to Proof of Work but that is a whole different topic. It can be done but has never been done by anyone to date. Many have gone PoW -> PoS, but not the reverse. If that was the case, another wrinkle to the coding of that would be to increase the coin supply. I'm not going to go into the headache of this, but more attractive rewards will be needed to entice miners to the coin for the PoW network securing.

- I donated for the peer review and I have no regrets or OCD that it hasn't been completed. More documentation is needed, maybe that is something some of us can gather for the team?!? I'm sure.

- Crypto investing is a personal battlefield in our hearts. For once we're all in control of our financial reward options and we all get emotional when we talk about our monies. Some of us have doubts with investing in some projects, some of us have peace with the due diligence we've performed on some projects. Both are fine, neither are wrong.

- Forcing one's beliefs on someone else isn't cool. And it's my choice to not listen.

Your big question is why did the devs stop the PoW phase early? To protect the network from solo ASIC miners. I assume the devs didn't realise that they would draw attention from the scrypt ASICS. In order to protect the initial distribution, they ended PoW early. The coin has been advertised since then as having a max PoW supply of 6.4 million. I'm not sure why it's a big deal that the devs intended for that number to be more.

PoW is flawed in many people's opinions. There are no coins preventing people with large stores of hardware using them to disadvantage those with single CPUs and GPUs. The devs wanted to use PoS for Shadow. Only a few ways to distribute coins initially with PoS, and the devs chose to have an initial PoW phase instead of an ICO or a large genesis block with a free faucet.

Even without the solo miner there are big questions, I said.

You don't have to buy the coin if you don't want to, but that doesn't give you the right to spam fuddery solely based on the lack of a peer review.
There aren't any hypers in this coin, forcing people to believe demand is high, creating fomo, and that they "must buy this coin now or miss out on the investment opportunity of the century." Nobody is suggesting anyone buy this coin without doing their own research.

Peer reviews, by nature, are not supposed to be commissioned and they will come with time. Welcome to Open Source.

On one hand you claim a foul with your false claim of a solominer taking over the network for a few days in the early PoW phase.
On the other hand you claim a foul for the devs preventing solo asic miners from taking over the network.

I suggest you prove your point in my SDC thread (your posts here may well be deleted). Even if you are correct there is still the reduction of 20 million to 6 million and the PoW phase length reduction from 30 days to just 11. Why? Becuase of scrypt ASICs? Really?

And there is for me, and maybe others, a crisis in trust due to the fact there is still no peer review and without peer review proving innovation SDC has little value.

You read child_harold's fud attempt. His claims of no mining pool existing for 3 days and a solominer are completely false. Proof can be found with the blockchain and the original thread.

Is this ship sinking?

Whats going on?, i read about chickenstripes?, WTF?!

Uh oh?

See you then.

Good luck to you too.

Uh oh...well all I can say is ill be back in 45 days to check on the status of the market. Good luck shadow people.

Looks like someone's bot's on the fritz on polo. It's gonna hurt when the owner sees what it's done.