Topic: Siberian chervonets (SIB) Algorithm X11-gost - page 2. (Read 96948 times)

In crypto world there is one sayin':

Never trust, always verify

thank you sir for the enlightenment!

never trust the web

not true, i have 2 activated nodes, 4 more to go up

You can check this link with printscreen from wallet, there is like 490 Masternodes active

http://prntscr.com/phrwlv

p.s.
masternode.live is just a website, they started to taking fees for masternode coins, thats why IvanR didnt wanted to pay fee.

You can also check node count if you download latest Sibcoin wallet and check under Masternodes tab, or go to wallets debug console and type

masternode count

it will show you

total 490
ps_compatible 229;
enabled: 229
qualify:226

so 229 enabled masternodes, 226 only need to start it again.

no mastemode operating so far....
https://masternode.live/currencies/SIB/SIBCoin

what do you mean?

lmaaaaaaaaoo holy shit i remember this crap! hahahahaha.

Hi SIB, whats up with price change?

good to see, time to fire up those masternodes

Alas=all is lost?

Summer 's over. There is no algorithm update. Alas.

 
 You can mine SibCoin at  autoexchange mining pool Zergpool.com at 0.5% fee. Please use following commands for different mining options
 
 Option 1 Auto coin switch by profitability within algorithm with payment to wallet
 Option 2 Direct coin mining to coin wallet
 Option 3 Direct coin mining with autoexchange to specified coin wallet
 Please note mc stands for mining coin symbol, c stand for payout coin symbol
 
 Autoexchange to BTC, LTC, DASH or any other currency we mine
 Happy mining,
  cheers pinpin

If someone still mine with 16.3.0 or earlier versions please update to 16.4.0 immediately!

Sibcoin Core 0.16.4.0 version available

Please download new version here: v0.16.4.0.

Update is required for all users!

Notable changes:

• Hard fork to remove dependency on difficulty for block reward;
• Sibcoin Light theme added and set as default;
• fix German version

Thanks for heads up, was following your project quite some time.
I would appreciate heads up of new algo, meanwhile, you can still mine some sib on old algorithm on zergpool.com

Sorry, but we decided other way.

Many people ask me about the transition to PoS and about further plans. I apologize for the timeout we had to take. To understand how to move on we had to read a number of different whitepapers and scientific articles. We also had to go through the code of systems that already use the Proof of Stake algorithm and other solutions.

The main reason for the possible transition to PoS was to ensure the stable operation of the network, taking into account the growing number of 51% attacks on various blockchains, including ours. Just switching to another PoW algorithm couldn't solve this problem. One possible solution to 51% problem was the introduction of dynamic checkpoints, as was done in the PeerCoin project. However, they did it in a centralized way that does not meet our requirements. As a temporary solution, we prohibited deep reorganization of the network at the masternod level back in September. However, this was done in a rather primitive way, which does not provide a 100% guarantee. Therefore, we decided to switch to the Proof of Stake algorithm as a solution to 51% attack problem, but after we synchronize our code base with the latest changes from the Bitcoin and Dash projects.

Despite the decision, we still had doubts about the Proof of Stake, because of technical and economic characteristics of this algo. Now I will focus on the economic part. The main advantage of the Proof of Stake algorithm in my opinion is that it does not need to burn electricity to maintain the network. However, it also has significant drawbacks, one of which is that this algorithm operates on the principle of "the rich get richer". Because Sibcoin was originally developed as "people's money", i.e. egalitarian currency, I didn’t like this way to solve "51% attack" problem which is quite technical. So, in parallel with studying technical details of Proof of Stake, I was looking for other ways to solve "51% attack" problem.

Fortunately, the guys from the Dash project have proposed an acceptable solution. You can read about it in this article:

https://blog.dash.org/mitigating-51-attacks-with-llmq-based-chainlocks-7266aa648ec9

Although there is not everything perfect and there are some technical issues, in general, it seems reliable. After some consideration we decided to use this solution.

Someone will surely note that, in the presence of ASICs, our currency is still not egalitarian because only small group of ASIC owners can mine now. Of course, because there are masternodes in the system, it cannot be absolutely egalitarian. But in the case of transition to the PoS, most people with small deposits will not mine for some small interest rate, and as a result only large holders will be engaged in this. In contrast, many people have a GPU card.

Mining on GPU cards caused us problems due to the dependence of the reward on the difficulty. This dependency will be removed.

Summarizing everything written above, we have the following plan for the next month:

1. We change the PoW mining algo to remove ASICs.
2. We remove the dependence of block reward on difficulty. The reward itself will be slightly increased.
3. We update our codebase with latest changes from Dash 13.0 version to be able to use that protection mechanism against 51% attacks.

These changes will be implemented in two updates. In the first update, we will change the mining algorithm and remove the dependence of the reward on difficulty. In the second, we will update codebase to mitigate 51% attacks with masternodes.

P0s update coming

By Jan 31 2019 sib coin will have completed algo change too pos they testing the new algo now after the algo change sib wil quickly trade over a dollar and by years end be back above 5 dollar all time high

When sibcoin trades over a dollar which it will within 6 months the 8 pct master node fee will be like getting over 150 pct interest a very nice bonus on top of the 1500 pct increase in value of sibcoin it will happen because sibcoin has great features and it's annonymous coin too sibcoin can and will be top 25 coin eventually

Sib coin is better coin then dash has more features then dash and is asic resistant and yet dash is 75'dollars and sibcoin is 7 cents

Since your coin is listed on CoinMarketCap, we have decided to add this coin to Masternode comparison service called "Masternode C".

https://masternodec.com/SIB.html
There is NO listing fee for the coins listed on CoinMarketCap.

I consider it was problem with seeders, but please update to 16.3.0 anyway.