"Hi,
Rumours are going on atm, about a terracoin shutdown. Terracoin network
is not going to be shutdown, instead we will try to exclusively depend
on community consensus before applying any major modification.
the following email was sent earlier (12h48 PM GMT) as a follow-up to
previous developer email's recipients ; it should explain everything:
> Morning,
>
> let me clarify the situation regarding this email :
>
> developer overreacted after a week of pressure spent trying to
> frequently patch the terracoin difficulty algorithm, in response to
> hashing power spikes seen recently on the network.
>
> Instead of publishing so many mandatory updates over the last 10 days,
> this should have gone through intensive testing ; the project itself
> uses and relies on 3 distinct "branches" for this purpose : not
> releasing poorly-tested code to the masses.
>
> A test phase was launched for this new algorithm, but with no real
> tester joining (I've heard of 3 distinct users joining the test network
> during that test phase), the code should not have gone live that soon.
>
> That being said, the whole terracoin network is indeed quite small right
> now, making it vulnerable to hashing power manipulations. This is
> especially true with the recent exposure to the public through your
> services.
>
> About the supposed forked chain : this was not confirmed yet, as those
> newly elected longest chains naturally comes from the incomplete or
> partially bugged difficulty algorithm.
> In a few hours, the last build should partially takes care of this, but
> a more permanent algorithm fix has to be discussed and implemented in a
> long-term perspective.
>
> Terracoin network core components were put back on line a few minutes
> after the incident and project files were also restored immediately.
>
> Bug Tracker Issues disappeared in the process. That's something we
> should also discuss with the user community : hosting parts of the
> developer tools at different locations, offering a wider set of features.
>
> From now on, project files, repositories, websites and network required
> components are and will stay on line, later developments will occur in
> dedicated branches & test network until community consensus is obtained,
> before any critical update gets released.
>"
> Sincerely yours,
> Terracoin team.
Topic: Terracoin. What the hell is going on? - page 4. (Read 7031 times)
One day, people will realize that RuCoin is the only crypto with REAL 51% protection built into the client/network and people will use RuCoin not only or the protection against 51% but because it has the nicest GUI/features out of all the clients with btc-e chat/trade built into the client, it's own separate chat system built into the client, miner ID cells which broadcast your miner ID/name to the network when you find a block (people love to have their ego stroked).
RuCoin is best coin.
RuCoin is best coin.
51 % are not what alt-coins need to worry about.
Difficulty attacks are the real concern.
I just wrote a longer post on it here:
https://bitcointalksearch.org/topic/m.1828915
One day, people will realize that RuCoin is the only crypto with REAL 51% protection built into the client/network and people will use RuCoin not only or the protection against 51% but because it has the nicest GUI/features out of all the clients with btc-e chat/trade built into the client, it's own separate chat system built into the client, miner ID cells which broadcast your miner ID/name to the network when you find a block (people love to have their ego stroked).
RuCoin is best coin.
RuCoin is best coin.
From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.
Any moment now I expect to see LukeJr rear his head and claim credit for this
I disagree PPCoin is SHA256 and as far as I am aware it's impossible to 51% attack computationally because PPCoin relies upon proof of stake not just proof of work. So if an ASIC gets >51% of the hash rate they can't screw anything up. So that is the major threat averted.
Additionally if an ASIC jumps on and ramps up the difficulty and then goes off, PPCoin has it's intelligent difficulty adjustment scheme which has been coping admirably with such events.
Additionally if an ASIC jumps on and ramps up the difficulty and then goes off, PPCoin has it's intelligent difficulty adjustment scheme which has been coping admirably with such events.
It must be true otherwise it would have been destroyed by LukeJr already
It figures I spent the last few late nights setting up a TRC pool, just to see if I could (using a bitcoin pool backend with terracoind instead, need to roll my own front end). Used it as a test all last night, found 11 coins, but only 4 survived. The other 7 I think probably happened during the difficulty dips where coins are found every few seconds. Mine didn't win the race I guess. I thought TRC had gotten stable the other day right before Coinotron suspended. Guess not. :/
Presumably this is a fate that all smaller currencies that use SHA256 can suffer.
I have a theory that some are trying to undermine all the Alt-Currencies in a variety of ways not just by misusing their ASICs however with some weilding massive power with asics those using SHA256 are especially vulnerable.
Not good.
I have a theory that some are trying to undermine all the Alt-Currencies in a variety of ways not just by misusing their ASICs however with some weilding massive power with asics those using SHA256 are especially vulnerable.
Not good.
I disagree PPCoin is SHA256 and as far as I am aware it's impossible to 51% attack computationally because PPCoin relies upon proof of stake not just proof of work. So if an ASIC gets >51% of the hash rate they can't screw anything up. So that is the major threat averted.
Additionally if an ASIC jumps on and ramps up the difficulty and then goes off, PPCoin has it's intelligent difficulty adjustment scheme which has been coping admirably with such events.
Presumably this is a fate that all smaller currencies that use SHA256 can suffer.
I have a theory that some are trying to undermine all the Alt-Currencies in a variety of ways not just by misusing their ASICs however with some weilding massive power with asics those using SHA256 are especially vulnerable.
Not good.
I have a theory that some are trying to undermine all the Alt-Currencies in a variety of ways not just by misusing their ASICs however with some weilding massive power with asics those using SHA256 are especially vulnerable.
Not good.
From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.
There are already now multiple Terracoin fork chains in existence, and it's quite possible that the chain has already been rewritten by the attacker who at times has had far more then 51% of the hash rate of the chain. Most likely the attacker is just either rewriting the chain, or plundering the chain by generating crazy numbers of block to make TRC to sell for BTC at the exchanges. We are being screwed.
There is another mandatory update out, which I would like to think will fix the problem, but at this point, we've been through a number of mandatory updates and the problem just gets worse.
There are already now multiple Terracoin fork chains in existence, and it's quite possible that the chain has already been rewritten by the attacker who at times has had far more then 51% of the hash rate of the chain. Most likely the attacker is just either rewriting the chain, or plundering the chain by generating crazy numbers of block to make TRC to sell for BTC at the exchanges. We are being screwed.
There is another mandatory update out, which I would like to think will fix the problem, but at this point, we've been through a number of mandatory updates and the problem just gets worse.
This seems correct
Though I can confirm now that it seem Vircurex and BTCe appear to be on the same blockchain as TRC was able to be sent between them
NOTE THIS DOES NOT MEAN AN ATTACK MAY FORK IN THE FUTURE
BUT THE OWNER OF THE ADDRESS TO WHOM YOU SENT THE TRC can always get the TRC BACK FROM ANY BLOCKCHAIN USING THERE PRIVATE KEY FOR THAT ADDRESS
A coin like this really should be removed from the exchanges. I was just about to buy some at BTC-e, glad I read this post first.
From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.
There are already now multiple Terracoin fork chains in existence, and it's quite possible that the chain has already been rewritten by the attacker who at times has had far more then 51% of the hash rate of the chain. Most likely the attacker is just either rewriting the chain, or plundering the chain by generating crazy numbers of block to make TRC to sell for BTC at the exchanges. We are being screwed.
There is another mandatory update out, which I would like to think will fix the problem, but at this point, we've been through a number of mandatory updates and the problem just gets worse.
There are already now multiple Terracoin fork chains in existence, and it's quite possible that the chain has already been rewritten by the attacker who at times has had far more then 51% of the hash rate of the chain. Most likely the attacker is just either rewriting the chain, or plundering the chain by generating crazy numbers of block to make TRC to sell for BTC at the exchanges. We are being screwed.
There is another mandatory update out, which I would like to think will fix the problem, but at this point, we've been through a number of mandatory updates and the problem just gets worse.
seriously there has to be a better alogrithim to use i suggested 2nd or 3rd order exponential smoothing
yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it. such as asics. so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..
that's the cause of the wild swings
that's the cause of the wild swings
Won't that just cause a shitload of stales and orphans?
I thought that's the reason Coinotron close down the TRC pool, pretty much all the blocks found by the pool was invalid. Furthermore, the person who is attacking the TRC chain for days now, is still using the time-travelling exploit via really high hashrate, hashing 30 blocks in secret and then dump them all at once every hour (the dump used to be every 15~30 minutes).
Yeah exactly. The chain is constantly being 51% attacked,bit hard to conduct business in it.
yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it. such as asics. so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..
that's the cause of the wild swings
that's the cause of the wild swings
Won't that just cause a shitload of stales and orphans?
I thought that's the reason Coinotron close down the TRC pool, pretty much all the blocks found by the pool was invalid. Furthermore, the person who is attacking the TRC chain for days now, is still using the time-travelling exploit via really high hashrate, hashing 30 blocks in secret and then dump them all at once every hour (the dump used to be every 15~30 minutes).
beats me
yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it. such as asics. so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..
that's the cause of the wild swings
that's the cause of the wild swings
Won't that just cause a shitload of stales and orphans?
yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it. such as asics. so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..
that's the cause of the wild swings
that's the cause of the wild swings
The difficulty has gone from 13k to 1 then up to 23k in the past 30 minutes. Is that normal?
i got my coins stuck in transit for 48 hours. 27 bitcoins of TRC worth.
I watched the price plummet from .014 to .0025 and could do nothing
hahaa. it sucked. what's the scoop is terra gnna pay me back?
I watched the price plummet from .014 to .0025 and could do nothing
hahaa. it sucked. what's the scoop is terra gnna pay me back?
Terracoin is terrifying
What's the new trc difficulty algo?
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