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Reality Coinhunter has 10 wallets with 1 200 000 coins os he has 1 200 000 $ he "can't spend"  ) If you has 12 000 000 $ you "can't spend" would you do everything to spend it somehow ? )) Not everyone is as corrupt as you. Exchanges could also easily block those transactions involving those addresses if they are that paranoid, they can do it now before the code is ever changed. Ah yes ? just a question ? why are you working on this project ? 1) you want save the world ( Than you should recognize that Bitcoin has potential to help the worl be better and don't scry everywhere "BITCOIN WILL COLLAPSE" ) 2) As you mentioned in Solidcoin You are the person world is circle around (well than you are more corrupt as me and your other posts tell me you think Money makes world circle around someone as result you'll spend coins) 3) You just want some money ( Result you'll spend coins ) Other ideas why are you working on that? |
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There will be people who use the latest GPUs and latest CPUs to get the highest efficiencies, that mine on 15c electricity who can produce coins for only $2 right now. If they had 8c electricity it would be right around the base $1 mark for SolidCoin.
I don't believe it. You'd have to get about 300 KH/s on only 100 watts. Name a CPU and/or GPU that can do that. All of he say is craping shit ... Imagine, solidcoin is 1USD Reality Coinhunter has 10 wallets with 1 200 000 coins os he has 1 200 000 $ he "can't spend" ) If you has 12 000 000 $ you "can't spend" would you do everything to spend it somehow ? )) |
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Yeah your calculator counts : Break point to mine solidcoin for profit : Solidcoin price : 24.6 USD Great economic Sure, if you have lame hardware and high energy costs that's what will happen. So don't mine it until its $25/coin if you refuse to upgrade or buy solar panels, that's fine. There will be people who use the latest GPUs and latest CPUs to get the highest efficiencies, that mine on 15c electricity who can produce coins for only $2 right now. If they had 8c electricity it would be right around the base $1 mark for SolidCoin. SolidCoin economic model cannot overcome electricity price inequality around the world, or the fact that you only have a Pentium 4 to mine on. But it means if you buy a coin using your real money that coin's value can't swing to something worthless tomorrow due to new people mining. This is a real currency with price stability built into it. One thing is never going to change with SolidCoin, and that is the fact everyone can create it. It will always have decentralized currency creation which means anyone can create it, it's not a central bank printing money, currency creation comes from YOU, if you want it to. It's up to you to decide if you want to based on things like whether you like the idea, profit, etc. Right now we have people mining that "Like the idea". So CPF gets ~36 SC dayly, means (SC is economical 1$) trust nodes sppend 198 KW energy dayly ... well nice |
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You words was : if someone needs Solidcoin, he could buy it on exchanges they don't need be generated, Trustnodes generate enough No, trust nodes do mining, but there are also somewhere around 50-150 miners still mining right now. You only need a single miner to keep the network processing transactions. People confuse mining with success because in Bitcoin if you have a low mining amount it means someone can easily attack the chain. In SolidCoin thanks to the security added to it, not all the protection comes from mining nodes now , which allowed us to change the economic aspect to something realistic. If less people mine, the coin inflation drops to contract with demand. If more people mine, the coin inflation increases to meet the demand. We don't expect to get millions of miners until the value of SolidCoin is high enough to satisfy them. Even if the entire Bitcoin network switched to Solidcoin production TODAY, the daily inflation amount would be somewhere around 1800 SC /day. Compare that to Bitcoins current 7200 a day. People complain about "only getting 0.07 SC per block", well guess what. If a coin is designed, like SolidCoin, to be backed by energy then you are getting what you put into it. Don't be surprised it's only 0.07 when you only paid 7 cents to make it. This isn't a ponzi scheme, this isn't Bitcoin, we have a real economic model in SolidCoin now. Yeah your calculator counts : Break point to mine solidcoin for profit : Solidcoin price : 24.6 USD Great economic |
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Solidcoin doesn't need miners at all ) Trustnodes can do all the work ))))) SolidCoin doesn't need miners for SECURITY as much as Bitcoin does, so you are partly right. However SolidCoin has a decentralized currency creation, which means it does need miners to create the currency. The only difference is when there isn't as much ENERGY put into mining the coin inflation drops so that the market isn't flooded. You words was : if someone needs Solidcoin, he could buy it on exchanges they don't need be generated, Trustnodes generate enough |
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You have a case of narrow blinkers. This forum isn't the world by the way, get out more.
Yeah, it's flying isn't it. Look at all those miners! You can lie to your cronies on your own forum as they're all as stupid as you, but it doesn't fly here mate. The statistics back up your claims Rolo.As I see very few people mining SC overall. CH maybe you should reverse the cutting of block rewards to boost mining of your currency (and therefore strengthening your network in the process.Miners are incentivised to keep the network running nicely with block rewards.make that count CH for your miners) Solidcoin doesn't need miners at all ) Trustnodes can do all the work ))))) |
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thanks to most for some great replies and not bashing me for honest questions. i really am wanting to see the truth behind SolidCoin. regarding it not being open-source, i would TOTALLY AGREE that any such system must be open source. but it seems to me that it *is* open source: i see the site has their open source posted at this page: http://solidcoin.info/downloads.htmli downloaded the zip and it has several code files in it. i did not even try to compile it as i'm not even on a puter that has Visual Studio installed. (i'm a windows programmer [my appologies  ] and c# is my specialty, but i'm familiar with c++ too.) so my point is at first glance, it appears that the source code is released. for those saying it's not open source, do you have a response to that? i agree that he has a hot-head attitude tho. that shows a lack of professionality about him tho. i give that negative aspect too. and thanks for that post to where he asked how many coins should be pre-mined. it was quite hillarious! but about pre-mined coins, in the explanation at the solidcoin site, it explains that premined coins cannot be spent like normal coins. i have to give him/them/SC credit, that it's a good idea. (i think brilliant to overcome the 51% 'danger' that other cryptocoins face.) but i also admit that i only half understand stated solution as to how those premined coined and 'trusted nodes' actually keep the network safe from a powerful attacker. but i'm pointing out that SC claims those coins cannot be spent as regular coins. and yeah, when i took a second look at difficulties, i found SC difficulties to be very low with as mentioned, hardly any miners. but in response to it not being worth the electricity to mine them, neither is BitCoins worth mining. They Coins from this "trusted node"-wallets can't be spended by actual code ( i didn't checked that exactly) but RS/CH prooved that he can stop network and force all users using SC to use new Client, other way your transactions will NOT BE ACCEPTED through his trust nodes. So it's only question of time he makes changes he can spend this coins. The second thing He says CPF - is Coin protection fund is used for protect network for pay bounties and so on. But ask CH is he mining hes solidcoins ?! NO ... why ? Well the trust nodes spend each time they generate block some coins to CPF ... so CPF is not coin protection fund, It's Coinhunter's Personal fund )) if you look through transactions after block 179999, you'll see ... 50% of all generated coins go to CPF this means if it would be world curency, 50% of all wealth of the World owns CH If you think it's ok and fear ... well your choice. |
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Better is subjective when used generally like that. If I said SolidCoin had better confirm times, no double spend capacity, etc, these are facts which are better than Bitcoin.
Can YOU doublespend with your TRUSTNODES ? YES and it costs almost nothing for you. Can someone doublespend in Bitcoin-network ? YES but it costs MANY ressources you have to be faster as whole network. Do i trust you ? NO! i don't trust anyone. Do i trust that is HARD! to attack bitcoin for doublespend ... YES it's possible but it's damn hard and costy. You are incorrect about it being centralized. If SolidCoin was centralized we would be able to reverse transactions, we cannot. SolidCoin has decentralized currency creation and runs on a decentralized peer-to-peer network with a public blockchain. What you think is "centralization" is entirely fabricated by idiots or your own imagination.
YES you can't reverse transaction, but it's not advantage it's even worser as PayPal, but you can doublespend or let no transaction pass trustnode, or make that this transaction do not pas the node. Can you ? yes. so it's Centralized. Again something else you don't know about SolidCoin. Each coin is now backed by ENERGY. Each coin takes a certain amount of electricity to produce and the algorithm in place ensures a fairly smooth ride with this going forward. I'm fine with people having opinions about something if they understand it, but you clearly are not educated on SolidCoin yet form opinions and then repeat mistruths about it. This is a bad personality trait.
It's understandable that some aspects of SolidCoin some people will not like, eg the CPF. And that's fine, don't use it or invest in it because you don't like the CPF. But it doesn't mean you have to start acting like an idiot and not educating yourself on the other aspects if you want to have an opinion on that too. Which is what happens here. Because some people don't like RealSolid, the CPF, me, competition, etc they get dumb and try to go personal or print lies.
What is sad is my behaviour, which is rather cocky or comes across as arrogance is what some notice when people like BCX that threaten to torture women with pictures of their dead children goes unnoticed like it's fine. Some sick, bitter, twisted people here that I take pleasure in leveling.
It's not backed up by Energy, you don't need Network. If i make night to day with a lot of projectors spending Gigawats of energy it deosn't make this light smthg worth. does it ? |
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Aww another butthurt baby, coming from the kid that "lost it" yesterday. If you can't handle the fire get out of the kitchen. I'm here because there are still some logical people who are ignorant of SolidCoin and may want a real education on the better alternative to Bitcoin. The others like yourself that pop up to show their retarded opinions and "proven facts" need to be "Put down" with logic. If that fails you gotta hurt the trolls in the place it matters their internet E-go. If you don't want me to do that to you or the other morons just stop talking through the finger mouth.
Solidcoin is an alternative but not better than the Bitcoin. It's not even as good as PayPal or moneybookers. It's just shit. Advantages of Bitcoin is decentralization and security. You have made all the advantages with centralization and with "Real King center of the Universe center"-Control to naught. IT IS EVEN SO GOOD as PayPal, because there exists pay-units covered WITH NOTHING. And what was blazing here who's who or how much money someone has is irrelevant. What counts as IMPORTANT it's knowledge and experience. And your actions shows that you are just lack of both knowledge and experience. |
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What looks interesting is that they still claim the SC2 algorithm to be GPU-resistant. I'm not at all convinced. Any technical opinion on this? It's not GPU resistant, but random reads on constant 4MB buffer make the difference of CPU/GPU slightly lower cause GPU lucks on a lot of cache. But it's still 4-6 times faster on GPU as on CPU |
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I saw in my own eyes, a 5870 mining litecoins, & i put screen shot. For those who still saying no proof, better download & try urself. http://solidcoin.info/reaper.htmlDoesn't work for me: always times out when trying to reach the pool... hostname used should be without prefix http:// |
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Given that it's currently not worth it to mine LTC using GPU, having a GPU miner out is not going to change much. But there are few potential problems I can think of:
1) This puts a cap on LTC price. When LTC price rises to make GPU mining profitable, we will see a bunch of people switching their GPU farms to Litecoin and sell the mined litecoins for bitcoins. This will put a downward pressure on Litecoin price. This is not necessarily a bad thing, because price doesn't matter that much.
2) Could lead to wild swings in difficulty as GPU miners move in and out of Litecoin mining. This will be similar to what happened with Namecoin before the merged mining. But since Litecoin retargets at 1/4 the time as compared to Bitcoin (3.5 days as oppose to 2 weeks), the swings shouldn't be that painful.
3) GPU mining makes it easier to 51% the chain. It would be easy for a decently sized GPU farm to 51% the chain.
I think I'm most worried about the last one.
well without decent network hashrate it can be attacked easy by any botnet ... having GPU miner makes it cheaper to get better hashrate. LTC is designed from start on to be smthg like 1/4 of Bitcoin ? bitcoins silver )) so we can't go around of it both currencies will be dependent on eachother. there will be couple of Miners on Nvidia, cause it makes same hashrate as ATI for scrypt. so i think if network hasrate goes up with GPU miners it will be not lead to wild swings. and even better protection for 51% attack from botnet. Sure atm we have dangerous time where network hasrate is low and GPU miner makes it possible to attack the chain, but shouldn't we just try to make Network stronger insted of swing it with changes? |
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If more effective GPU miner will be released, simple changes in algorithm will make it completely unusable. For example, we can use bcrypt() result as additional salt. I.e. add stage in hashing process.
Current algorithm is:
1) Calculate B = SHA256(A)
2) Calculate C = scrypt(B)
3) Calculate D = SHA256(B, C)
4) Return D
Probably future algorithm:
1) Calculate B = SHA256(A)
2) Calculate C = scrypt(B)
4) Calculate D = bcrypt(C)
3) Calculate E = SHA256(B, D)
4) Return E
Like scrypt(), bcrypt() is also using many pseudo-random operations with memory during encryption process.
1) Well i'm sure there is NO WAY to create an Algorythm that will NEVER better implemented on some piece of future hardware. 2) LTC is used by bot-nets to generate some cash, and aslong it is in this situation it will never be accepted as "stable" currency. 3) The limits on how good current Algoritm can be implemented on GPU i've calculated somewhere above, on common hardware best can be Nvidia GT 590 with smthg like 1.2 MH/s (unreachable maximum). Is this that dangerous for LTC ? i think NO. I think we should leave it atm as it is and spare afford for "fixing" situation for other more dangerous situation. P.S. i think GPU mining for LTC can even be good for LTC stabilizing network hashrate. My idea is do nothing. |
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Who wants to make Litecoin 2.0? =P
There's no need to reboot the whole thing. We could just change the algorithm starting from block N. but i think this could split the chain and make one with "old clients" and one with "new" ? |
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Updated to latest Version but still getting weird errors sometimes :
[qouote]
2012-02-29 20:09:28.633938 RECV shares 0100a80100000066e30ead841d6283dbeb9fb65407effc8c5de7f5e77434b4543405ddd5e000419 10b0477a3e69488325b1e2311e959e3f95a1b39df3aed2df1bebeb3d0768340d8774e4ff192001d 358502809e70b847507b6d5a1a32b2897c35503c19...
2012-02-29 20:09:28.634282 > Traceback (most recent call last):
2012-02-29 20:09:28.634320 > File "/usr/lib/python2.6/dist-packages/twisted/internet/selectreactor.py", line 146, in _doReadOrWrite
2012-02-29 20:09:28.634347 > why = getattr(selectable, method)()
2012-02-29 20:09:28.634372 > File "/usr/lib/python2.6/dist-packages/twisted/internet/tcp.py", line 460, in doRead
2012-02-29 20:09:28.634397 > return self.protocol.dataReceived(data)
2012-02-29 20:09:28.634421 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/p2p.py", line 55, in new_dataReceived
2012-02-29 20:09:28.634445 > old_dataReceived(data)
2012-02-29 20:09:28.634469 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/util/datachunker.py", line 40, in _DataChunker
2012-02-29 20:09:28.634494 > wants = receiver.send(buf.get(wants))
2012-02-29 20:09:28.634518 > --- <exception caught here> ---
2012-02-29 20:09:28.634541 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/bitcoin/p2p.py", line 53, in dataReceiver
2012-02-29 20:09:28.634566 > self.packetReceived(command, type_.unpack(payload))
2012-02-29 20:09:28.634590 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/p2p.py", line 68, in packetReceived
2012-02-29 20:09:28.634614 > bitcoin_p2p.BaseProtocol.packetReceived(self, command, payload2)
2012-02-29 20:09:28.634638 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/bitcoin/p2p.py", line 66, in packetReceived
2012-02-29 20:09:28.634663 > handler(**payload2)
2012-02-29 20:09:28.634686 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/p2p.py", line 199, in handle_shares
2012-02-29 20:09:28.634711 > self.node.handle_shares([p2pool_data.Share.from_share(share, self.node.net, self) for share in shares], self)
2012-02-29 20:09:28.634736 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/data.py", line 124, in from_share
2012-02-29 20:09:28.634761 > res = cls(net, peer, **share1a_type.unpack(share['contents']))
2012-02-29 20:09:28.634785 > File "/home/grom/ltc/p2pool_clean/p2pool/p2pool/data.py", line 166, in __init__
2012-02-29 20:09:28.634809 > raise ValueError('old share an hour after switch time')
2012-02-29 20:09:28.634833 > exceptions.ValueError: old share an hour after switch time
[/quote]
mining Ltc on p2pool
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im doing 200kh/s on a stock 5830  At current difficulty that's about .167 BTC worth of Litecoins per day. Or you could just mine .25 BTC with the same card. Why am I not surprised that something that loses more money than it generates was developed by the SC DEV? ~BCX~ Well i wouldn't be so agressive, it's nice mrlt was able to create it. big five It's unusable atm. cause LTC price is so low, but he did good work. |
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anyone got any results from an nvidia card?
Nope, it's not source it's precompiled for 2 AMD chips, but theoreticaly if we get source it will perform ok on Nvidia. |
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I'm claiming it because it seems obvious to me. If I had proof I doubt you would believe me, just like with this miner.
So, we finally get to the root of the issue. Coinhunter thinks there might be a GPU miner, but has no proof. ... well we do have the (worthless) gpu miner ...and the Cobbleforz miner must be like 50x faster to what Coinhunter (whichever) claims to be profitable... wonderful evidence.. *edit* isnt that more or less what Artforz said? GPU mining IS possible (how could it not be) but absolutely not profitable? I don't agree it's 100 times MORE profitable as mine Solidcoin with any hardware *lol* |
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Its not useful though, i can mine enough btc to buy 3-10 times the amount of ltc this thing could mine
its just silly
Well yes, but cause this implementation depends most of GPU-memory speed i think this scrypt miner will run wit same/better results on Nvidia GPUs so it's not that worthless |
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10% as much ltc as i could get by mining btc and buying ltc
this is still 90% gpu-hostile
also, LOL at the panic sell because of this, silly people, this is not going to do anything, no one is going to waste electricity gpu mining ltc (well some will, i mean SC has a couple of miners, silly)
so yeah, go back to your lives people
Mining LTC on GPU needs more power aswell, it's memory intensive and meomry can't be downclocked aswell... So it is still hostile |
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