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Title: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 03, 2014, 01:44:34 PM After recently learning about LTC pools merge mining DOGE, I couldn't help but wonder ..
How easy would it be for a greedy (insert your coin here) pool operator to mine blocks on any blockchain of his/her choosing ? And not tell you. :o Could this be how so many shitcoins are able to achieve such high hashrates at launch ? This has the potential to become the biggest and longest running scam, dwarfing GOX and/or BFL. Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Koontas on November 04, 2014, 07:38:58 PM Ah, nothing like a dramatic conspiracy theory...
"biggest and longest running scam"... ::) Title: Re: Is your pool merge mining other alts and not telling you ? Post by: eleuthria on November 05, 2014, 12:06:51 AM Look for yourself? You can't merged mine in secret. There are breadcrumbs present in the primary coinbase to show if you're merged mining at all. While you can mine multiple and claim you only mine on one, it can be audited if somebody wants to dig into the merged minable coins to see if there are blocks with the parent chain coinbase as part of the auxpow.
Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 05, 2014, 12:08:38 AM Ah, nothing like a dramatic conspiracy theory... "biggest and longest running scam"... ::) If only it were that simple. But I'm sure in your world, the crypto community's ruling class are respected and reknowned for their ethical and fair treatment of it's members. This has the potential to become the biggest and longest running scam, dwarfing GOX and/or BFL. No, No it doesn't. Elaborate or plzzz stfu. :-* Btw, its not just the coins with the bigger hashrates merge mining the small ones. This works both ways. :o Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 05, 2014, 12:11:36 AM Look for yourself? You can't merged mine in secret. There are breadcrumbs present in the primary coinbase to show if you're merged mining at all. While you can mine multiple and claim you only mine on one, it can be audited if somebody wants to dig into the merged minable coins to see if there are blocks with the parent chain coinbase as part of the auxpow. Tyvm for this information. :) So how does your everyday noob go about doing this ? lol Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 05, 2014, 02:47:15 PM Ah, nothing like a dramatic conspiracy theory... "biggest and longest running scam"... ::) If only it were that simple. But I'm sure in your world, the crypto community's ruling class are respected and reknowned for their ethical and fair treatment of it's members. This has the potential to become the biggest and longest running scam, dwarfing GOX and/or BFL. No, No it doesn't. Elaborate or plzzz stfu. :-* Btw, its not just the coins with the bigger hashrates merge mining the small ones. This works both ways. :o So lets do some math here, Namecoin has a market cap of: $ 8,786,388 , PPC coin has a market cap of $ 17,192,578Devcoin has a market cap of $ 228,186, Terracoin is $ 155,887 , IXcoin is $ 831,863 and Freicoin is $ 112,265 . So lets add these up and get a total of : $27,307,167 That is the MARKET CAP of ALL THE Merge Minable Sha coins, now that is around 25% of the gox scandal and just barely over the BFL scandal if they somehow were able to mergemine every single coin of all the markets and get away with it. So lets go over some things: 1. It's not happening 2.Even if everycoin was mergemined and stolen it would be 25% of the scandal of gox 3.There are audits and ways to tell 4.learn how to spell the word "please" and do some research. 1. You sound confident. Prove it. 2. You are not taking all of the scrypt, x11 ect coins into consideration. How much was dumped when those coins peaked during the bubble last year ? The final numbers may never be known. 3. See 1. 4. Fuck the genocidal inbred queen's english. Pretty plzzz ? ::) Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Tstar on November 06, 2014, 07:55:44 AM how do i check if they are doing merged mining?
it there any way to check this Title: Re: Is your pool merge mining other alts and not telling you ? Post by: marklvest on November 06, 2014, 11:32:59 AM After recently learning about LTC pools merge mining DOGE, I couldn't help but wonder .. How easy would it be for a greedy (insert your coin here) pool operator to mine blocks on any blockchain of his/her choosing ? And not tell you. :o Could this be how so many shitcoins are able to achieve such high hashrates at launch ? This has the potential to become the biggest and longest running scam, dwarfing GOX and/or BFL. thanks for some replies of this post that really give an insights to the problem as one of my queestions also as a nmewbvie similar to this kind of problem...greatfull that some share this idead thanks a lot... Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 06, 2014, 12:56:58 PM how do i check if they are doing merged mining? it there any way to check this We must do what our royal spellchecker, KINGcolex, advised us to do. Quote 4.learn how to spell the word "please" and do some research. Or.. we could set up a bounty for a merged mining blockchain scanner app. :) @marklvest Hi, np ;) and welcome to our scam riddled forum. Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 08, 2014, 06:03:00 AM Will someone plzz second this motion ? ::)
Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 27, 2014, 11:15:45 PM Pardon the uber delayed response but, of course its a SCAM.
This may also explain how these rent-a-hash ops are able to summon such vast amounts of hashpower. edit Lets call it "fractional reserve mining". :o Title: Re: Is your pool merge mining other alts and not telling you ? Post by: Hippie Tech on November 28, 2014, 12:06:21 AM Pardon the uber delayed response but, of course its a SCAM. This may also explain how these rent-a-hash ops are able to summon such vast amounts of hashpower. edit Lets call it "fractional reserve mining". :o I can't call it a scam - you wanted to hash on a chain and be paid in those coins, you were. You forgot to mention that this was the ONLY chain I/we agreed to point our hashes at. ;) What would DOGE look like today if people knew it was rigged for merged mining from the time of it's launch ? <insert pile of shit here> |