Yep... there are many checks I left out of the verify method  1) I need to check that nonce < MAX 2) check that a != b Aye, you've got me wishing I'd just kept my mouth shut and waited to see if it was in the live code, could have mined a bounty out if not  Regardless, it's a good PoW system and will be considering using it, or a variation of it with a customized salsa20 in the future. |
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Webr3, thank you for the feedback. It would certainly add clarity that such a thing must be checked. Other things that we are checking that are not referenced in the white paper is that A and B are both below some MAX NONCE value. I will update the white paper with additional clarity and enhancements regarding the ideal parameters for various goals.
Yes, do remember to update that verify function too, sometimes it's the most obvious things that catch you out further down the line |
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so currently you have: 1) Given a block of data D, calculate H = Hash(D). 2) Find nonce A and nonce B such that BirthdayHash(A +H) == BirthdayHash( B+H) 3) If Hash(H + A + B) < TargetDifficulty then a result has been found, otherwise keep searching. Step 2 never needs to be run, BirthdayHash is never executed. All you do is increment A and run Hash(H + A + A) until a result has been found that is under the TargetDifficulty. As soon as you've found this, then B == A and of course BirthdayHash(A+H) == BirthdayHash(B+H). To fix this, all you need to do is create a rule such that A and B must be different. Rather than just assuming it and not hard coding it or building it in to the algo that A != B. Seems quite a critical thing to miss from a white paper. You'll also note that you didn't check for this in your own validation function
bool momentum_verify( pow_seed_type head, uint32_t a, uint32_t b )
{
uint32_t ia = (a / 8) * 8;
fc::sha512::encoder enca;
enca.write( (char*)&ia, sizeof(ia) );
enca.write( (char*)&head, sizeof(head) );
auto ar = enca.result();
uint32_t ib = (b / 8) * 8;
fc::sha512::encoder encb;
encb.write( (char*)&ib, sizeof(ib) );
encb.write( (char*)&head, sizeof(head) );
auto br = encb.result();
return (ar._hash[a%8]>>14) == (br._hash[b%8]>>14);
}
Very surprised to see it missing given your comment to me that: What you have just stipulated was implied by using variables A and B and simply pointing out that A cannot be equal to B is IMPLIED and also OBVIOUS. It does not change the algorithm or the idea. So obvious in fact that I suspect everyone else reading it also assumed that requirement.
Sorry, you don't get 30 BTC because I am doing NOTHING DIFFERENT and your feedback provided 0 value.
Hopefully it is of some value, and you correct the code and add it in to the paper, else of course the whole approach is pointless is A can equal B |
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You would still be better off starting to buy from this point and buying as much as you bought in the first place, and still profit.
But whatever, it seems that making mistakes and living in denial is worth more to you than actual $$$/roi.
Not at all, I'm still acquiring and lowering my overall average price, and indeed could raise the price 5-10x with appropriate walls if I wanted to. But I'd be a fool to continually buy at a higher price than I needed to. My average price of 0.012x feels low to me in the long run, and given BTCs recent rise too, and that I bought all the coins with percentages of profit from other coins, I'm pretty much on a no lose here. |
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So, how is it going? When we were evaluating your options, the price of this coin was around 4x higher than it is at this day. Do you still stand behind your decision? If you do, don't you think it would be better to have 4 times more of the same coin for the same price in bitcoin?
I'm still happy to have acquired the coin, and I understand that I couldn't acquire large quantities at the current price, any attempt would either wall up and drive the price up, or involve me eating up the orders on the market to 2-5x the current price in order to buy any decent quantity. Time (months) will tell if it was a good investment or not, I still feel it was at this point. |
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Timer now at 30 Days.
Thus, one of the following statements must be true:
The combined developers of 3 alt coins (with a combined cap nearing half a million USD) are:
a) incapable of making a countdown timer even after several attempts
b) cannot and will not stick to deadlines they set themselves, even after several attempts
c) have successfully managed to make 5-6 figures of USD for themselves by buying a domain name and implementing a timer script.
so which is it? none of these give much faith for investors.. thus far I'm still glad I got in and out quickly.
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so why is the timer still at 10 hours?
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I'm feeling a little heavy in bottlecaps, so looking to move 3 sets of 10k CAP at 3 BTC per 10k. This is mid market average price. PM to do the deal.
(it's also about 10% of all bottlecaps in existence)
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Read your own words:
I've tried loads of alts recently, I've been burned, dumped on, etc
But fine, maybe FRK will do another 1000% in next 3 days.
I've not been burned with every coin, and FRK is one of the few I've not been dumped on. So far in the last week or two: CAP: acquired, didn't get dumped on FRK: didn't get dumped on, can hardly even acquire IFC: Major dumped on ELC: Major dumped on PXC: dumped on more than i could buy MEM: dumped on but not too bad FLO: dumped on but not too bad GLD: dumped on massively RYC: dumped on massively NRB: dumped on, managed to dump it back, about to be dumped again it looks like. You managed to take losses on 9 different coins? You may need to revise your trading strategy. Buy low before the pumps, not once they are pumping as there is usually a follow up correction (hint franko is now pumped and not low). And how the hell did you lose money in PXC which is pretty much always in a gradual uptrend? Did you panic buy one of the spikes? I tend to acquire 1-5% of economies over 24-48 hours, on and off market, the way i figure it is if I can take a huge proportion, and raise the price a bit, and it keeps coming, then people are dumping on me. I didn't say I took a loss on them all, up a little on some, managed to break even on some, loss on others, up over all - primarily thanks to FRK and CAP. I did make a couple of really stupid moves though, like checking if RYC or ELC were even active! Still though, up overall, and over the last couple of years I can't complain 6 figures of profit easily. |
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Read your own words:
I've tried loads of alts recently, I've been burned, dumped on, etc
But fine, maybe FRK will do another 1000% in next 3 days.
I've not been burned with every coin, and FRK is one of the few I've not been dumped on. So far in the last week or two: CAP: acquired, didn't get dumped on FRK: didn't get dumped on, can hardly even acquire IFC: Major dumped on ELC: Major dumped on PXC: dumped on more than i could buy MEM: dumped on but not too bad FLO: dumped on but not too bad GLD: dumped on massively RYC: dumped on massively NRB: dumped on, managed to dump it back, about to be dumped again it looks like. |
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Omg, just checked FRK graph. on 14.7. the price was 10 times smaller than now. If you are buying now, you are just asking to get ripped off.
I think that's a risk I'm willing to take, did it with BTC at $5 and XRP at 1/40000 and made xxxx%+ on both - given the rarity I think I'm going for it - thanks anyway! |
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What Franko gives that other coins don't? Why would I invest into Franko, while this is just one of 50 options...
I've tried loads of alts recently, I've been burned, dumped on, etc - franko seems to have simple properties, it's fast (30 seconds) and it's rare - as the website says ( http://frankos.org ), it's gaining mining support and investment support, being bought up way quicker than it's being mined. I'm worried about missing the boat, there's next to nothing available to buy - the rarity combined with high speed seem to be a good combination. Unsure though, hence why seeking opinions before I start jumping in properly. |
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I've been researching Franko a lot recently, and have watched it hit circa $1.50 per coin already, even with increasing diff it's rising consistently.
As far as I can tell, roughly 720 new coins can be mined per day (0.25 per block, 30 second target). So it seems to be a simple case that demand does, and will, outweigh supply (even if every coin mined is instantly dumped), which should see the price rising significantly and steadily, along with diff for miners. It's looking to me like double and triple figures could actually be viable for this coin.
Just sanity checking this makes sense, and that it's a good idea for me to be trying to grab as many as I can at this relatively early stage?
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Posting to join the franko collective, no free frankos wanted though.
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Ripple is centralized closed source payment system. I don't see anything revolutionary about it.
It's a decentralized open source payment system which supports multiple currencies, including bitcoin, and which has no reliance on opencoin's presence to succeed - although they have done a huge amount of work on it. decentralized: anybody can run or create a node, anybody can implement a node, anybody can add features to, modify, or improve a node, anybody can use any ripple node for the same purpose, all nodes share a distributed ledger (like blockchain) open source: the source is open, readily modified by anybody, and freely available to anybody with interest, myself and 100 others at least have commit access at this time, it's being prepared for mass distribution and has been moved to it's public repo ready for launch when stable enough to ensure the millions of USD worth of currency it manages is 100% secure and unhackable. XRP however, does has a controlled distribution from a central source, which is a for profit company. Don't confuse the two, it's a shame to write off such a great leap forward in payment and clearance systems just because one of the currencies it supports is distributed by the company that creates it - they do give masses of it away free though, and only sell comparatively small amounts of the currency in order to fund development of ripple.. when investment funds and companies like google aren't sponsoring the work that is. |
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"So Many AltCoins, - let's make another one"
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I now have 5,000,000,000 of the dump as you dumped as I pumped
good may take some of that back off you if it's on market, but really I'd like to not be able to afford 1b let alone 5 |
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it would be nice to remove or add a warning to coins that are not being mined or have been abandoned (RYC etc)
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People are still snapping up the coins on cryptsy even though people are dumping billions of them, if only there was some way to get people to hold onto them for a while. Perhaps make a bank that gives a little interest or something... Just an idea. Maybe the interest can be funded by donations from the biggest IFC holders?
It was me dumping, I've dumped over 7 billion of them. It may seem counter intuitive, but I've been taking IFC in it's billions from weak hands, then dumping on market to stronger hands, in order to liquidise and stimulate the economy. I've only got 1b left now, which I'm keeping and going long on. If the price gets in to single digits then I'll repeat the process and buy a few billion more. ps: the MEM on cryptsy thing is just wrong, I bought a wedge of them, then somebody else did a dump straight after |
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This is terrible.
I test out alt coins by buying 1%+ of the economies on market, and roughly the same off market. My thought process is simple, if I buy a decent percentage of all the coins and bump the market, and coins keep coming stronger than I can buy them, then I feel people are holding big and trying to dump.
I bought 150,000+ PXC on market (5% of all mined PXC), and had only two offers to acquire some off market, one person wanted the bid at that time, the other wanted twice as much as they were worth.
After buying and bumping the market several times, it was still going down, and I couldn't move a percentage of the coins I was holding on market for love nor money. So I dumped them all on market and got out. It felt like too much of a risk, for me, personally, at this time.
Regarding PhenixCoin itself. I appreciated that a lot of work is going in to Phenix related stuff, but to me all that stuff is useless and not anything investors I know, or normal people I know, or indeed I, would use - so it didn't really mean anything to me.
I'm NOT saying PhenixCoin is a scam coin, it may do well, as may UNOCS.
tldr; I bought 5% of all PXC on market very easily, could have bought another 8% of coins off market, and another 5% of coins on market easily, and when I can buy 5% of an economy, double the price, and still easily acquire 10-15% more easily then I get itchy feet and dump.
You are right at the moment there are not lots of services where a normal user can use the coins but in the future these type of services will be available. You were so quick to get in and out. you should have waited till the UNOCS timer ends. That's a risk I was willing to take, given that there were three coins involved, I figured they'd all stay roughly the same value, and didn't see any of them breaking a market cap of about $200k each - I could be wrong though, and frequently am, I'll watch from a far and see what happens. |
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