Topic: [XPM] [ANN] Primecoin Release - First Scientific Computing Cryptocurrency - page 62. (Read 688812 times)

@AgentME
FTC is PURE crap, and its not about market capitalization! but how many ppl mine it all the time, that is preventing attack!

ATM primecoin is mined on huge number of CPUs and having 51% would need a hell of a resource!

Then your altruistic. Misguided in my opinion. But altruistic. I say misguided because no deviant has close to the resources to overrun the network, not the motivation. As for the only party that has the motivation and, incidentally, the resources? No matter what all of us do, that party could still overrun the network if they so chose.

And you're in the 1%. Reading the BFL threads, and threads for alternate cryptos still seeking their first ASIC, no one is tryin to protect anything. They're all trying to leapfrog one another for a bigger piece of an always shrinking pie.  

+1

Some poeple don't understand cryotocurrencies, and capitalism ingeneral, use individual greed to do collective good.

Whos' attacking the network?

Criminals? Why would they, they'ed lose an avenue to try to launder money?

Script Kiddies? If they could attack the network, wouldn't they be more motived to use the coins generated for value than to destroy the network? I'd assume that that would be the case at least.

So you're not protecting it from typical miscreants. Now, who else would attack it? Oh, that's right. A government. And if you think that all of ASICMINERS hardware combined with all of Avalons hardware and all Butterfly Labs' shitpped hardware provides any protection at all against a government, well, sorry. If we've got $15 million invested in ASICs, the gov't can just as easily do the same times 10 and take it down no matter how much you mining power we deploy.

Whos left to attack?

As noble as "protecting the network" sounds, no ones adding hashing power or priming power to any of the networks in order to protect it. They're doing it for profit, plain and simple. Otherwise the butterfly labs threads wouldn't be nearly as distraught as they are. People aren't spending $30,000 to protect it, nor are they paying $2k to get their hands on a $279 device from ebay in order to protect the network.

So, the OP's point stands. All any leapfrogging will do is cost a lot of people a lot of money in order to keep up, where they'll all end up in the same exact place at the end of the day.

That is pretty much what I was doing, I was seeing the new wallets with their transactions and balances. The issue was that when I transferred the balance of the second or third wallet the coins seemed to disappear. They were no longer in the original wallet and never made it to my main wallet. I checked and I had connections to the network so the transaction should have propagated. I wonder if there is a bug where the client configuration gets tied to the wallet and when the wallet it switched it corrupts the transactions.

It's really not that hard. Go to SFTP on your server

DOWNLOAD THE WALLET

stop primecoind

rm -f /.primecoin/wallet.dat (<< DO THIS ONLY IF YOUR WALLET IS DOWNLOADED & BACKED UP)  *CAUTION THIS COMMAND DELETES THE WALLET*

Then you can replace it with the one described here. I don't know if its trust worthy, but I will find out soon.
https://bitcointalksearch.org/topic/m.2805539

Was't getting any responses in the other thread so I thought I would try here.

Does anyone know if I need to run any commands when transferring wallets from one computer to another? I sent a few to one computer and then used that to transfer to my main wallet on another machine. It worked the first one or two times but the third transfer seems to have disappeared. The old wallet shows a balance of 0 while the main wallet has not received any coins. It's been around an hour now, every other transfer has taken seconds.

To transfer the wallet I would shut down primecoind, replace the old empty wallet with the new one and start primecoind again.

I'm wondering if this is a bug in the wallet or if there is some reason why this can't work.

Any help would be much appreciated.

The ARM is just the host processor.  The Parallella also has and FPGA grid and even more interestingly, a grid of custom parallel processors which would likely handle big int math well.

I am.


I'm not.

I happen to believe in the concept of a decentralised, user-driven currency, and that is my principal reason for taking part. If I make a little money on the way, good, but it's not going to pay my electricity bills. And if it all falls apart I'll go back to Folding@home and BOINC.

ARM chips are embedded processors designed for phones and other portable devices - performance is not a top priority, low power consumption is.

I wouldn't invest personally.

Have they even filled their may orders? Look at the kickstarter comments no feedback

As noble as "protecting the network" sounds, no ones adding hashing power or priming power to any of the networks in order to protect it.

They're doing it for profit, plain and simple.

I wonder what kind of PPS a Parallella can achieve. At $99 I'm about to buy one.

I have extensive knowledge of prime number theory and how modern computers can be used to find them but this is not going to 'unlock' more efficient methods of mining the coins. First mining involves more than finding primes. Second and more important in an imaginary world where we had asic chips mining prime coin as the difficulty level shot into the sky the awards of coins per block diminish very low. The design of the coin is such that it yields 'less' the 'more' you throw at it and we would all be in the exact same place we are now.

Personally I think the beta testers of the coin may have perfected some 'better' builds to mine than we have available in public now. I have no proof of this and anyone who helped make this source has a right to use their knowledge to their advantage. We all have the right to not mine the coin.

Until prime coin has some regular uses other than just mining and selling on an exchange it will remain a commodity only. I admire the development team for it's creation at a time when a new coin is launched every other day.  Prime coin is popular now because it is unique and while the long term scientific value to be expected from the project is low it is a great step in a direction to design a coin that does something more than drive up electricity use. My advice is to just enjoy it as it is now. Give it a year or two to develop. I suspect if any 'advanced' methods' of mining prime coin are developed they will not be posted for everyone to use. Anyone that gets a powerful edge is most likely to keep it quiet and mine for their own benefit.

Bitcoin was designed to be a form of currency beyond traditional corporate and government control for the better of all but a majority of posts I read give me the impression most are mining to just make a quick buck. The current money system of the world revolves around greed. The true long term benefit to everyone would be a permanent change in how money changes hands in the world and negation of any entity to just 'print more bills' like all nations do now. I may be a minority opinion here but I think this result if achieved would be a much bigger win for everyone than just a few of us making some money in the short run.

So can we relax about GPU, FPGA, ASIC mining and think of the big picture?

1 x Parallella = 32 GFlops - $99 -  0.32 $/GFlop
1 x i5 4670K = 86 GFlops - $240 - 0.35 $/GFlop
And this is overlooking the fact that you would also need to buy the rest of the computer (case, memory, hard drive, etc).

So yes, i think it's quite an efficient processor for its price.  But would you mine a whole lot at 1 Parallela? probably not.  
You would need to get at least 10 or so.  They sell them in packs of 4 with all the extra cables required for $575.
http://shop.adapteva.com/collections/parallella/products/parallella-cluster-kit

Estimated shipping date of October.  By which time i don't know if mining primecoin with a CPU will really be a thing anymore.  But it might be a nice rig to have to mine other things that come along.

If you bought 2 of those 4 packs, you would have 256GFlops for $1150....