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Difficulty just increased to 0.09258932 at block 12096. A bit more than double the previous difficulty of 0.04195601.
By my calculation, if you have 10 khash/s, it takes about 11 hours to find a block. You will make about 51.6 tbx per day. At the current exchange rate of 0.002 btc per tbx, that's about 0.10 btc or about $0.50. So basically about 5 cents a day for each khash/s. In terms of making money, it's probably not worth it to mine tenebrix anymore. Mind as well buy them on the exchange.
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The next step for Fairbrix is a block explorer. But it will take a fair bit of work to create a daemon version of fairbrix similar to what lolcust has done with the tenebrix daemon. Let me know what your thoughts are and I will decide whether or not to spend time on this.
I can host the FBX block explorer when/if the Unix daemon is available, if there is interest. Thanks ama. I will work on the fairbrix daemon. Will let you know when that's done. |
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The only reason to mine any coin (save for namecoin, sortof) is to exchange it. You may be exchanging it for another "currency", or for USD, or for some physical item (though I doubt that, honestly. Far too easy to scam someone as a seller given the non-reversableness of the payment), but exchanging is the point.
Once you take a look at how easy it is to scam someone who pays in *coins, exchanging for other forms of money becomes the only viable option.
If that's the only reason, then there's no point in the currency at all. The point of a currency is to buy goods. If it's just to exchange for another currency, then it's doom to fail. |
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The withdraw function for IOC is locked up incidentally. And it might be nice to turn off the fees charged for people to withdraw their remaining funds.
Withdrawals seem to be working - what do you mean they are locked up? The exchange still has to pay a withdrawal fee, especially as the wallet gets low on funds and hits fragmented addresses, so it doesn't make sense for it to turn it off and to incur an even greater loss than it already has. It does make sense to turn it off, since you are compelling people to withdraw. It's not really fair to tell people "you must withdraw all your coins" and at the same time charge them a fee for doing so. Consider a person who just deposited some funds, who now must withdraw them an incur a fee and who gets nothing for his funds. This is the risk you assumed, and which you were paid for assuming, when you opened an exchange. I guess a good analogy might be a whole life insurance policy. Such a policy might have a fee associated with cashing in the policy before a particular date. But if the company is going out of business and requires everyone to cash in their policy or lose it, they should clearly waive the fee. We're talking about 0.01 btc and 0.01 i0c here. That's like 5 cents for bitcoin withdrawal and nearly nothing for i0c withdrawal. It's nothing for each user but adds up if doublec has to pay for it all. He's lost ~200 btc already trying to do this community a favor. Please give him a break. |
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The next step for Fairbrix is a block explorer. But it will take a fair bit of work to create a daemon version of fairbrix similar to what lolcust has done with the tenebrix daemon. Let me know what your thoughts are and I will decide whether or not to spend time on this.
I'm in support of not having a FBX-BTC exchange for a while. I believe if an exchange starts up too early, the coin will become a pump and dump coin. If all you did was spend a few days mining a new coin and an exchange opens that values your coins at 100 BTC, why wouldn't you just sell all your coins and make 100 BTC for a fews days of work? I think that is what's happening with GeistGeld and Tenebrix. And when that happens, it's hard for a coin to succeed.
So what I want is to see if Fairbrix can stand on its own. See if people are willing to mine it without an exchange in sight. If people believe in the cpu-based mining concept without the premining, then they will continue to mine fairbrix... similar to how people mined bitcoins without an exchange early on. And if that happens, then it will become a viable alternative to bitcoin.
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It looks ok all of a sudden, I open my Fairbrix client and found 50 coins  The old client or the relaunched client? |
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I confirm the chain is back on track.
All it needs now is to garner enough hashing power and increase in difficulty.
Yes, the relaunched fairbrix is back on track. Currently at block 4401, difficulty is 0.00390625. |
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Fairbrix => Attacked by Artforz/lolcust as too much competition to tenecrap Now given that I was helping out with FBX, this is plain outright lie. bulanula, please stop spreading FUD. Stop accusing people of attacking a chain when you don't know for sure. Lolcust is the main reason why Fairbrix exists in the first place. |
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GeistGeld doesnt have this vulnerability plugged. GG fixed the ArtForz attack, which is also fixed in Fairbrix and Tenebrix. The 51% attack exists in all crypto currencies.
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Maybe you should try to plug the 51% vulnerability first before releasing it again.
How do you plug the 51% vulnerability? |
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The pchar message headers were changes AND a new genesis block was created. So there's no way that the old fairbrix client was the culprit. It is possible that this chain reorg was accidental, but not likely. Anyways, it seems like the overall network hashrate has grown and it's harder to pull off this attack now. And given that fairbrix has no value right now, it's not really worth it to keep attacking it.
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Hey guys, it seems like the Fairbrix relaunch is has some hiccups. I wanted to see what people are mining to see if it's worth it to keep supporting it. Thanks.
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wtf, I left my notebook running with fbrix for fun, and now all of the coinage it mined is gone.
How... unpleasant.
Yeah, it was unpleasant. Most of the blocks I mined were orphaned as well. It seems like someone did a 51% attack on it. |
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Fairbrix is a GPU-unfriendly coin based on Lolcust's Tenebrix. The main difference between Fairbrix and Tenebrix is that Fairbrix does not come with 7.7 million premined coins. In fact, only 100 blocks were premined. Like Tenebrix, Fairbrix uses scrypt for proof of work. This makes it hard for GPUs to calculate proof of work. So it's more cost effective to use CPUs for Fairbrix mining. Fairbrix details: - scrypt proof of work - 25 coins per block. this stays the same forever - blocks found every 5 minutes on average - 2016 blocks difficulty retargeting (1 week on average) - default rpc port: 8645 - default port: 8591 (open this in your router) Anyways, here's the client source: https://github.com/coblee/FairbrixWindows binary and miner: https://github.com/downloads/coblee/Fairbrix/fairbrix-win-client-v1.0.zipLinux daemon: https://github.com/coblee/Fairbrix-daemonCurrently, you must use one of these miners that uses Scrypt: https://github.com/Lolcust/Tenebrix-miner https://github.com/ArtForz/cpuminer - Fastest but experimental Also, you may need to configure it for your machine to get the optimal speed. Check the README file. Somewhere on the forums, people have suggested running configure like this: CFLAGS="-march=native -O3 -Wall -msse2 -msse3 -msse4.1 -msse4.2 -msse4 -mavx" ./configure OR CFLAGS="-march=native -O3 -Wall -msse2 -msse3 -msse4.1 -msse4.2 -msse4" ./configure To mine, you will need to copy the fbx.conf file to: Windows: C:\Documents and Settings\username\Application Data\fairbrix Mac: ~/Library/Application Support/fairbrix Unix: ~/.fairbrix And make sure you change the rpcuser/rpcpassword in the fbx.conf file. Here's a Fairbrix block explorer: http://blockexplorer.sytes.net/chain/FairbrixPool and exchange should be coming soon. |
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Simply removing the line in the config is enough to restore expected behaviour. No need for a re-launch. Since that would then make the 0 coin blocks invalid blocks, it is a block forking change, so a relaunch is needed. Yup, and that's why I worked all night on getting this done right. I doing final testing right now. The chain is only on block 78. Will release the source soon. |
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I'm still working on a relaunch. The source is here: https://github.com/coblee/FairbrixIt's not fully working yet. But I'm going to make it such that you don't need a conf file. I would not suggest mucking around with your fairbrix.conf file to try to generate coins for the original chain. This would just make people fork different chains and create a huge mess. |
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Unfortunately this launch was a false start. There was a problem in the config causing all blocks mined after the 100th blocks to contain 0 coins. The fix would unfortunately require a restart of the coin. michaelmclees has asked me over IRC to take over for him. I will try to do my best. I will set up a new github.com repository with the source so people can do diffs. And generate a new genesis block. I will premine a few to make sure things work ok. Apparently, that was really needed. When everything is looking good, I will post the client and the source. In the meantime, please stop your clients and miners and switch back to tenebrix. What happened ? I made sure that the custom inflation (aka make magkal blocks with arbitrary coinage) is off in the config (custom_inflation=0) and set subsidy to "allways 25" (Subsidy=25), wtf did go wrong ? The code checks for the flag custom_inflation, so setting it to 0 still triggers custom inflation. Since post_Subsidy is not set, after 100 blocks, the subsidy becomes 0. doh! mmm crap. But why does inflation_trigger default to 100 ? Also, dudes, we can theoretcially fix it without restart, just with a config update. custom_inflation=1 infaltion_trigger=(current block nucmber)+ 5 blocks post_Subsidly=25 You sure. wouldn't the 0-coin blocks be invalid with your new config? |
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Unfortunately this launch was a false start. There was a problem in the config causing all blocks mined after the 100th blocks to contain 0 coins. The fix would unfortunately require a restart of the coin. michaelmclees has asked me over IRC to take over for him. I will try to do my best. I will set up a new github.com repository with the source so people can do diffs. And generate a new genesis block. I will premine a few to make sure things work ok. Apparently, that was really needed. When everything is looking good, I will post the client and the source. In the meantime, please stop your clients and miners and switch back to tenebrix. What happened ? I made sure that the custom inflation (aka make magkal blocks with arbitrary coinage) is off in the config (custom_inflation=0) and set subsidy to "allways 25" (Subsidy=25), wtf did go wrong ? The code checks for the flag custom_inflation, so setting it to 0 still triggers custom inflation. Since post_Subsidy is not set, after 100 blocks, the subsidy becomes 0. doh! |
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Unfortunately this launch was a false start. There was a problem in the config causing all blocks mined after the 100th blocks to contain 0 coins. The fix would unfortunately require a restart of the coin. michaelmclees has asked me over IRC to take over for him. I will try to do my best. I will set up a new github.com repository with the source so people can do diffs. And generate a new genesis block. I will premine a few to make sure things work ok. Apparently, that was really needed. When everything is looking good, I will post the client and the source. In the meantime, please stop your clients and miners and switch back to tenebrix. |
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