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301  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - 6 Exchanges - Most Profitable 11 Days Straight on: February 19, 2014, 04:51:59 PM
You guys should market this coin to India. Big business is waiting there.

Market what? There's nothing to market that anyone under the age of 13 would be interested in. Are you suppose to try and sell people on this coin based off the fact its called "mooncoin" alone? Good luck.
You waste an awful amount of time in a thread of a coin you don't believe in

Also, you lost any credibility with your statement "omg my cards run much faster now, like 7mhs!"..... that's idiotic because the hashrate increase is 100% irrelevant when everyone has the same increase....
302  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 19, 2014, 04:16:11 PM
We have some good discussion going, this is good!

From my perspective, changing the max # of coins is the variable that would really have a negative impact.  However, keep in mind as we've seen with a lot of other coins, Doge in particular, that fundamentals don't necessarily always equate.  Doge for instance has a massive coin supply and yet continues to see huge volume and nice prices.  Just something to keep in mind.

I understand the point of view of Jean Bax, but we need to consider the cost-benefit and impact of doing nothing.  But I get that a hardfork and change to the coin parameters is not a minor change and can be unsettling.

Now, on the other hand, what really will support the price and drive interest and attract more miners is publicity and social media marketing.  This effort will really kick in once the new wallet is out and the platform comes up behind it.

The problem is I only have so much bandwidth.  My suggestion is if we are going to make a change to the block reward, we do it now BEFORE the interest really picks up again, and make sure we get it right so we don't have to worry about another hardfork down the road when the impact would be worse.

I know everyone is pushing to have the next gen wallet _now_ Cheesy  I am working as fast as I can behind the scenes.  I am making good progress, but we need to decide what to do about the core Qt wallet and daemon before putting out the next gen wallet.

The alternative is we don't change it for now, focus on putting the next gen wallet out and marketing, and see how the market reacts.    But we would need to do as previously suggested and get people organized into mining for the sake of keeping the network hash rate at a reasonable level.

I am open to either option, and trying to be responsive to what the community wants.  So, for now, I propose that I spend the next week focusing on the next gen wallet and getting updated screenies in the hands of the graphic designers, in the meantime the communty can continue the discussion, and then we can take a decision.

Also, to answer another question from a few pages back - the next release of the next gen wallet will be a real Beta as opposed to an alpha drop - this is my goal, but requires more effort to polish before I push it out.  Need UI QA, etc. and some real release packaging.

I am very committed to seeing Particle succeed and become an established platform.  This is my real interest in Particle is longer term being able to build some entrepreneurial things around it on top of the platform.  Since this type of platform didn't exist before, I decided to build it. ;-)  If this were a client project, it's the kind of thing I'd put 5 guys on.  It is me doing the work of an entire team Cheesy  It also means I have to space things out and pace myself on purpose to avoid burnout.

I have been approached by a lot of people hitting me up to do coins and various development for them.  I have turned them all down to keep focused on Particle.

The past few weeks have been a little hectic - we've had crazy weather, the flu, etc. slowing things down a bit.  But now we're heading towards spring and things are back at full steam.  I don't know if anyone's seen some of my other posts on here but here is another piece of news:  one of the things I've been looking at over the past few weeks is Open Transactions.  I think this will be the next major activity after the Beta 1 release of the next gen wallet, to integrate and use the OT platform as the solution to a number of features we want to bring into the wallet.  This is part of the reason I was a little quiet for awhile, as I was looking into how much of this I could pull off now vs later.  As I look at the development schedule shaping up, I think this will fall in after Beta 2 time frame.  I'll get a post up on the blog today with a better breakdown of the current schedule.
You repeated deception. Chinese players have abandoned the particle number of coins. Once we let the particles currency value in a day increased 10-fold. Our efforts. And How about you. . Each said launch soon as possible as quickly as possible. Etc. is endless deception. Each will have a majority of players waiting to exit the particle currency. This is what you want to see it? Now a day's worth of particles coins are shrinking. Every day people quit particles currency. You are a full of cheaters
There has been no price increase due to Chinese exchange. Guogao has a lot of volume but always playing in the same range. I know why and when the price increased, and it wasn't from Chinese movement.

I don't know what you are complaining about, things not going fast enough? Damn boy, If a couple months is long for an investment to mature, please don't ever buy real estate or stocks.

So you feel cheated because things didn't happen in a week? And you say you had faith in the coin? What kind of faith? You mean the kind that just instantly quadruples your money? Sorry, but there is good things coming, put your faith where your mouth is and be patient.

And how about him? He's the one behind the scenes that has been doing all the work for your investment to increase 10-fold.  Pity you to dismiss that so easily.
303  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 19, 2014, 12:21:29 PM
Quote
Rewarding miners now to bring MORE people into this coin is one way we can grow our user base as well as keeping the coin afloat.

No. If the coin isn't profitable now to mine, you really think up the reward will make this coin more profitable ? You'll change the hardcore spec each time the hashrate look not good enough ?

I say it's manipulation.
Can't believe what I read. I'm leaving definitively this crap. Dev, you're doing a heavy mistake. I hope other devs will learn from your fall.
You're just saying f*** to all peoples putting big money in your coin, for some idiot miners that don't understand they wont make a bigger profit because you increase the block reward.

edit: you really should replace your thread title: ** NO PREMINE BUT COIN MANIPULATION, YOU BUY IT ? WE FUCK YOU **

There are always someone believe in something but others not, if you dont like it,just empty your wallet,others will take it.Go ahead genius. Grin
harsh words for something that was only a proposition or question from dev to the community. Decision is not made yet

Yup I'm pretty harsh, sorry for this.
This decision is just terrible, this idea itself is an insult to people put lots of money into the coin.

I'm gonna spread the new to my coop right now as the idea is confirmed, I'll try to save a little of there money for those don't want to bet or risk.

I'm afraid to see the dev team is even minding about this, it's like childrens playing with people money (aka politics with peoples). "oh a red buttom, lets push to see !".

Quote
if you dont like it,just empty your wallet,others will take it.Go ahead genius.
Already done. I won't stop here. Business not happen alone.
Ofc you don't care, me to at least. Your choice f*** peoples who spend lot in the coin.

I defend this coin hard cause I like it, but it's not the point
You are playing with thousand of my dollars and lots of my BTC, and not only with mines.
I put shitload of money in this coin, glad I lost nothing except time. Understand I'm angry. I spent money and time to bring price up for damn miners who don't understand anything to maths.
I admire your open mind and your "what I think is the only right thing". There has been a lot of arguments about this and it has been pointed out many times this is most likely a good scenario for investors moreso than miners. You seem to believe that a coin can survive without mining, that in itself removes a lot of credibility to your statements. The change is so minor and barely affects overall distribution. You decided to throw a bit of a th in there, but your math is very subjective, it's like saying 2 apples + 4 apples = 6 apples. We know. It's the repercussion of those numbers that mean something* and that repercussion is positive, not negative.

I am most likely 1 of the top 3 particle coin holders, I have donated over million particle to help promotion in various ways, I do not mine. But I would welcome that change greatly.

So far the contribution I've seen from you is some baseless FUD and assumption that a change good for the health of the coin is bad.

304  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 19, 2014, 02:36:58 AM
I'm feel increasing the block reward will just sacrifice the coin in the future for more hash rate now.  What is the long term point?

It seems that many here don't understand how crypto coins work.  Mining is required to produce blocks that are needed for transactions.   However mining costs money.   Right now PRT holders are expecting miners to lose money so they can benefit from the coin.   The problem particle has is because of the early extremely high awards quickly distributed most of the coin.  

There is basically two choices I see.  
1) Make the coin attractive for mining
2) Force everyone (through the wallet) to participate in some kind of p2p mining.   However the code for that is much more complex, but it seems possible.   For example, one problem that would have to be dealt with is you would get very tiny mining awards that would end up limiting the transaction sizes.

A third approach is that if everyone that wanted the coin to succeed would also mine it.   However that wouldn't be profitable for most people.    Still if enough people did it the network health would no longer be an issue.   I just checked the difficultly and it was at 545.   It tends to cycle up and down.   Anyway clearly some people are still mining.  
I really like the sum up of this post. It isn't the only option, just probably the most simple at this point. Should we thrive for the simple solution? Most of the time no, but this solution is simple and has much less negative effect than some seem to think.

It's important to realize this change is merely returning the reward to what it was a little while ago. Which still respects the original distribution plan to a large degree. (More than 50% mined in the first couple months). In the grand scheme of things it's merely prolonging a prosperous mining reward for a little while longer while having limited effect on overall distribution.

I'll also add, do you prefer a dead coin that has little rewards or a coin kicking strong with a slightly changed distribution plan? I know I'm for the latter. And that fact alone should drive the price up, not down.
305  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 19, 2014, 01:47:17 AM
We could bump it back up to 180 coins, or 360, for a longer period of time?

Let's tackle the block reward first.

I would say that 360 is the minimum. Ideally I would say 780 to attract more miners...

For the period of time I would say at least 3 or 6 more months.

Explain why we have to bump it up?

Because there isn't any profit in mining PRT right now.   Without mining the coin dies as blocks are needed for transactions.   

As a miner I would vote for at least 360.  At 90 I can't mine PRT for a profit, I'm able to gross 2x mining FRQ over PRT.   At 360 PRT per block that would flip the other way assuming the price of PRT holds up.  At 180 it is about break even between the quark based coins.   
Well individual reward should come to equilibrium with difficulty, so it's not really gonna be double profit.
306  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 19, 2014, 12:32:35 AM
Block reward is a specification that you should not change at this point, it's manipulation, coin would have a different value ... it's just not an option.

If you don't want read my wall-text, here the conclusion ^


Quote
have to explain why having no miners isn't good...
Have to explain why miners mine -> market.

Quote
The proposed changed is simply keeping the reward a little higher

90 to 3xx is 'a little' ?

The rest you saying is pretty right, maybe.

I'll only give my point of view about this.
But I already left the market. I'm putting big money into some altcoins I believe, PRT is one of them.
So after 1 month, I'm steping back. I'm not complaining or crying. I lost not really money. I hope my witness will help you to don't do this mistake.

You forgot to do maths or analysis before minding or changing the block reward. Behind you, a market with thousand of dollars and cny is working. The market health is very nice at the moment.
Say "I think xxx is good" or "yyy looks nice" isn't enough.

You underestimate very hard the impact of the market and the number of peoples like me involved. God thanks I got this new in the firsts.

Changing the block reward isn't a solution. Will you change the spec each time the hashrate look not good to you ? Just release your wallet, continue work this way, you're just make you busy.
Your popularity is solid, your coin is far away from all the shit we have here. Peoples know it, your market is very NICE since the last cut, and undervalued atm but pushing up.

This kind of decision is breaking trust between you and me. You're screwing all peoples who put money into the coins and who keep working on it. You'll make peoples losing money, and you'll break more trust.

Miners are mining because of the market price short-medium-long term. They mine profitable coins or coins they trust. Miners are selling to guys like me.

You may lost some of your big investors on short-medium term. The recover will hard and will give you lot more work.
You think more miners will come if you change the block reward ? Maybe that's true. Other-side: lots will leave to because of the market.

You'll gain nothing, you only have to lost doing this. You're doing a huge mistake and wrong maths.

Also, as someone putting money into a coin, i personally have difficulty to believe in a coin, and in a team with devs changing hardcore specs at random time for no emergency reason. Manipulation it is.
Specs is a big factor in my maths when I watch a market.
I have to take a decision, I can't ignore this. If I'm alone to go this way, you're safe, but if more big investor think like me, man, good luck.


Quote
Confidence in the coin increase
Yes, peoples trust, I feel it on the market, it's pushing up.
As said, I think it's a bad move. You will tackle this.
Seriously, point out the damage it could do to change the reward... I'll tell you what would happen if we don't change it....

Reward becomes too low to be worth mining it, so miners leave for a more profitable coin, coin becomes too vulnerable to attacks and becomes a major security risk, people lose confidence and coin plummets. Your investment is now worth 0.

All of that can be avoided by doing something that HAS VERY LITTLE IMPACT ON THE MARKET. THE FACT THIS IS ADDRESSED BEFORE IT BECOMES AN ISSUE IS A GOOD THINGS.  You don't want to fix something after it breaks, you want to prevent it from breaking.

Also you quoted me out of context.... And the change to reward is minor considering 90% of the mining has been done at an average much higher than the suggested change. Everything is relative
Prolonging a sustainable distribution for a little longer is better for the coin at this point.

I don't see why you are so reluctant to it. I addressed pretty much every concern that could occur. Also note the part where I said bigger reward will help the volume it is lacking right now, it won't be so much sell pressure as buyable volume (because right now it's hard to buy with this low volume)

I should add, if you followed this thread at all, you'll see that pretty much the only concern raised in 3000 posts was the distribution coming to a stale right about now. (Being the only concern over a coin should be a big confidence booster in itself), this issue is being addressed.

I have more than you can imagine invested in this coin and I'm not mining, yet I still want more to go to miners because ITS THE RIGHT THINGS TO DO RIGHT NOW.
307  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 18, 2014, 10:56:03 PM
It is very common knowledge by this point that block reward has very little effect on price (see litecoin historically for a prime example). Also, did the price double every block reward halving? Nope.

In fact, due to the better distribution it should actually drive the price up, being a better structure and fix one of the only problems of particle. Confidence in the coin increase, which is by far the biggest driver of value.
308  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 18, 2014, 09:39:44 PM
Changing the block reward is like someone slashing the price of the product after you've purchased it. It changes the value of coins previously mined by adjusting their scarcity.

Whether that is fair or not, I couldn't say, but if I'd been mining particle for months, then find the block rewards were about to double, for example, I'd be pretty miffed.
Well with that mentality,  wouldn't it be a good thing as someone who buys a product that you constantly buy, like apples (as per your example), sure you bought overpriced apples, but in the future you get cheaper apples to the point where the apples are now cheaper overall. (From a miners point of view, since I assume that's what you implied). From an investors point of view, it's good for the health of the coin, which usually means good for the investment.

In the crypto world, people convinced themselves that inflation is the worst thing in the world, but believe me, there is much smarter people than us that knows why inflation is a good thing. The bad thing about inflation we see in fiat, is that it's in part a byproduct of government mispending.

And regardless, it's all about the good out weight the bad. You really thing it's better for the coin to lose more miners at this p9int, and lose even more in the near future?

Also it doesn't really affect scarcity in the end since the max coin cap doesn't change. Also, we need more volume as a whole, from both sell and buy, bigger miner reward creates more sell.

If you don't understand why sell oorderbook volume is important well... put yourself in the shoes of a big buyer, if you wish to buy a lot, (which would increase the price) but to get the amount you would like you would have to pay up to 200% premium because there is no sell, would you be tempted to buy? Of course it would push the price upwards, but low volume upwards is usually low volume downwards, so it's really better to choose to buy something with higher volume.

So please bring the change, until someone brings a tangible reason why it shouldn't happen.
309  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 18, 2014, 09:19:06 PM
Block reward is a specification that you should not change at this point, it's manipulation, coin would have a different value ... it's just not an option.
It isn't really affecting the market. And even if it did in a relatively significant manner, you still have to ask yourself, does the good out weight the bad, and it definitely does.
310  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 18, 2014, 07:43:53 PM
Particle is the real deal and this is just the beginning.

Yes it is.
I'm investor in this coin because I like it:
 - technically nice
 - offer new stuff
 - the specs are nice

From my position I have a bad see of a reward increase. I'm pretty against.

I think you don't realise how nice is the market behind you.
https://www.cryptocoincharts.info/v2/pair/prt/btc/coinedup
http://www.guogao.com/trade/PRT/

Changing the reward will just destroy it and investors like me going back on btc. China look very strong on this market and it's increasing.
Of course miners will be happy if you increase the reward. But for what ? Fearing all your investors ? You manipulate your coin on half way for no real reasons, except making some miners happy.
How I would trust in your coin ? Why I would put my money in a coin the dev are manipulating on the specs ?

Really, tell me now if you plan to change the reward or if I misunderstand something.

I think PRT is strong and will go up. Don't do a bad move please.
You have to think what WILL happen if it isn't changed. If the reward isn't more "rewarding", it will come to a point where there will be no more miners, and I hope I don't have to explain why having no miners isn't good...

The proposed changed is simply keeping the reward a little higher for a little longer without affecting the cap. The previous time for total distribution of 10 yrs was probably way too long anyways, in this day and age, you should know within 2 years if the coin will sustain itself or not. So it is almost fixing another problem in that.

Also a move active distribution could prevent choking the market, something that could happen and that we were also somewhat already victim of.

THERE IS NO DOWNSIDE TO THE PROPOSED CHANGE.

Disclaimer : I am NOT mining prt
311  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - 6 Exchanges - Most Profitable 10 Days Straight on: February 18, 2014, 01:36:59 PM
Well even if all this was as sound as people try to make it seem because the rewards estimate don't add up on a double luck based system, I would really like to see someone being there all day to try to snatch 25% or less higher reward every 1 minute.
312  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - 6 Exchanges - Most Profitable 10 Days Straight on: February 18, 2014, 12:49:00 AM
I've a question.

Look's like a large private pool is connected to network...
At this time is 1400Mhs network hashrate.
pool.karmacoin.info - 387Mhs
karma.hashstrike.com - 296Mhs
other officially announced at start page ~ 10-20Mhs
Black hole: ~700Mhs
Next.
Block 17840-17845 generated by K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z with total amount of 4869397,001 KARMAs. 811566,1668 average per block. Higher than other pools... Ok...

Some investigations in block explorer...
http://explorer.karmacoin.info/tx/d02563e283e1b438b9d02c19bddcad584fd661384b8346bea625f41df3f936fe
K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z sent appx 27517929.016 to KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5
Ok...

Sent, sent and sent...
And voila:
Code:
Address KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5
Details
Balance 2589363996.56565243 KAR
Transactions in 742
Received 6955117377.22357766 KAR
Transactions out 336
Sent 4365753380.65792523 KAR
omg... 2.6 billion... 77btc at 3e-8...

And yes, only K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z sent to KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5.

May be I'm wrong, but...

And now my question: is it possible 51% attack at KARMA network?

add/
From block 18100 to 18143 all blocks with reward > 1mio except one was generated by K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z, and smallest reward was appx 0.65mio.
So lucky )))

That worries me a lot. Someone could enlighten us?

lol that address almost has 16% of all KARM in existence on it lol

Feels like the devs knew the algo and how to highly increase the chances of getting the bonus rewards, or that someone found a way to do so. If it's the devs, it starts to make sense as to why the bonus rewards are so high..



I think dev needs some explaining to do here.

This wouldn't surprise me if it was true.




The algorithm is right there in the source code:

Code:
int static generateMTRandom(unsigned int s, int range)
{
        random::mt19937 gen(s);
    random::uniform_int_distribution<> dist(1, range);
    return dist(gen);
}

...

        if (maxRand != 0) {
                double rand = generateMTRandom(seed, maxRand);
                bonus = rand * COIN;
        }

        return nSubsidy + bonus + nFees;

It's a standard random number generator.  They just got lucky with those blocks.  As for the devs being involved with that miner.. they're not.  I've spoken privately with them about it and they don't know who it is.  There's no way to tell who it is, but it's clearly someone who saw a huge opportunity with karmacoin.  That 700MH has been there for a LONG time now, and it has STAYED on almost the whole time.  They could be mining a lot of other coins with that hash rate, but they're mining karma.

I certainly hope they don't dump all those coin at once, because it would decimate the market... but I think they're smarter than that.  If they have 70BTC+ worth at 3 satoshi, they have to be thinking about what is going to happen if it hits some real exchanges.


It is not the definitely not the dev (my team)!  The person (group, multiminer, etc) who has been mining it has a farm with between 700MH to 1GH, and they have been mining it consistently.  That is upwards of $1M USD in equipment with an enormous electric bill (probably 40-50K USD).  I am basing those estimates on what I pay for 2MH but it should be close.  They definitely see a big upside to the coin and the community, as we do as well. Given their scale I don't see why this person would sell now or sell in a hurry (i.e. there is no way they are hurting for cash if they had enough to buy 1M of equipment).

As far as the code and the algorithm, there isn't a way to game it to get more lucky.  The source code is here at https://github.com/karmacoin-team/karmacoin, the file that has the algorithm is src/main.cpp.  Also the algorithm is pretty much the same as used by DOGE for the randomness so it's been beat up and proven over the past several months of their existence.



http://explorer.karmacoin.info/address/KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5   shows over 7 billion coins recieved and over 4 billion coins sent. i would believe this coin is an exchange. possibly coinmarket wallet address where all of us sent out coins to them.

What is strange about this is that K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z this address keeps sending out the coins to KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5


we need to figure out what the hell is going on.
It's obvious it's an exchange wallet.

We don't really need to figure out much. There is a big miner making money. Same as the little miners. He just has a lot. Too bad for you

Too bad for us all as they are tanking the price. They don't care about the coin just about making money to pay for their massive equipment and power bills. Not sure whether we should be flattered they chose Karmacoin or afraid of what's to come. There seems to be buyers at a price that makes it profitable to mine so that is a big plus...even at the rate we are creating new coins (which is very high right now).

If they are sending most of the coins to an exchange to sell then that may help to explain the massive sell positions at the 3,4,and 5 sat levels on all the exchanges. I am more concerned about what seems to be unfair average block rewards for them. Why are the seeing over 800,000 coins per block when all the pools are only seeing less than 500,000 coins per block over the last 24 hours. This to me is hard to explain with just luck and randomness. Dev's please explain how this can be? Almost double the payout per block is way out of the range of pure luck. Especially spread out over 24 hours. This is very disconcerting. It is bad enough they are getting all the blocks but getting all the good blocks as well is too much. 
There is nothing wrong with mining the most profitable coin. It means equilibrium isn't reached. It's all a natural process at this point.

And I don't know where the hell your claim about the block rewards inequity comes from. Looking at the top 3 pools blocks found, only a very few are under 500k.
313  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - 6 Exchanges - Most Profitable 10 Days Straight on: February 18, 2014, 12:05:09 AM
Pretty much every new coin is subject to being 51%'d. The fact we have someone with 700Mhs that could have 51% but didn't/doesnt just makes it that much safer. And now it's out of 51% reach.

I don't see any real threat here. The network is growing and that's just good.
314  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - 6 Exchanges - Most Profitable 10 Days Straight on: February 17, 2014, 08:37:27 PM
I've a question.

Look's like a large private pool is connected to network...
At this time is 1400Mhs network hashrate.
pool.karmacoin.info - 387Mhs
karma.hashstrike.com - 296Mhs
other officially announced at start page ~ 10-20Mhs
Black hole: ~700Mhs
Next.
Block 17840-17845 generated by K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z with total amount of 4869397,001 KARMAs. 811566,1668 average per block. Higher than other pools... Ok...

Some investigations in block explorer...
http://explorer.karmacoin.info/tx/d02563e283e1b438b9d02c19bddcad584fd661384b8346bea625f41df3f936fe
K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z sent appx 27517929.016 to KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5
Ok...

Sent, sent and sent...
And voila:
Code:
Address KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5
Details
Balance 2589363996.56565243 KAR
Transactions in 742
Received 6955117377.22357766 KAR
Transactions out 336
Sent 4365753380.65792523 KAR
omg... 2.6 billion... 77btc at 3e-8...

And yes, only K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z sent to KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5.

May be I'm wrong, but...

And now my question: is it possible 51% attack at KARMA network?

add/
From block 18100 to 18143 all blocks with reward > 1mio except one was generated by K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z, and smallest reward was appx 0.65mio.
So lucky )))

That worries me a lot. Someone could enlighten us?

lol that address almost has 16% of all KARM in existence on it lol

Feels like the devs knew the algo and how to highly increase the chances of getting the bonus rewards, or that someone found a way to do so. If it's the devs, it starts to make sense as to why the bonus rewards are so high..



I think dev needs some explaining to do here.

This wouldn't surprise me if it was true.




The algorithm is right there in the source code:

Code:
int static generateMTRandom(unsigned int s, int range)
{
        random::mt19937 gen(s);
    random::uniform_int_distribution<> dist(1, range);
    return dist(gen);
}

...

        if (maxRand != 0) {
                double rand = generateMTRandom(seed, maxRand);
                bonus = rand * COIN;
        }

        return nSubsidy + bonus + nFees;

It's a standard random number generator.  They just got lucky with those blocks.  As for the devs being involved with that miner.. they're not.  I've spoken privately with them about it and they don't know who it is.  There's no way to tell who it is, but it's clearly someone who saw a huge opportunity with karmacoin.  That 700MH has been there for a LONG time now, and it has STAYED on almost the whole time.  They could be mining a lot of other coins with that hash rate, but they're mining karma.

I certainly hope they don't dump all those coin at once, because it would decimate the market... but I think they're smarter than that.  If they have 70BTC+ worth at 3 satoshi, they have to be thinking about what is going to happen if it hits some real exchanges.


It is not the definitely not the dev (my team)!  The person (group, multiminer, etc) who has been mining it has a farm with between 700MH to 1GH, and they have been mining it consistently.  That is upwards of $1M USD in equipment with an enormous electric bill (probably 40-50K USD).  I am basing those estimates on what I pay for 2MH but it should be close.  They definitely see a big upside to the coin and the community, as we do as well. Given their scale I don't see why this person would sell now or sell in a hurry (i.e. there is no way they are hurting for cash if they had enough to buy 1M of equipment).

As far as the code and the algorithm, there isn't a way to game it to get more lucky.  The source code is here at https://github.com/karmacoin-team/karmacoin, the file that has the algorithm is src/main.cpp.  Also the algorithm is pretty much the same as used by DOGE for the randomness so it's been beat up and proven over the past several months of their existence.



http://explorer.karmacoin.info/address/KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5   shows over 7 billion coins recieved and over 4 billion coins sent. i would believe this coin is an exchange. possibly coinmarket wallet address where all of us sent out coins to them.

What is strange about this is that K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z this address keeps sending out the coins to KUMpz7KSH2ym3XVDFws3YhqapcA26JdQW5


we need to figure out what the hell is going on.
It's obvious it's an exchange wallet.

We don't really need to figure out much. There is a big miner making money. Same as the little miners. He just has a lot. Too bad for you
315  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - No Pre-mine! 6 Exchanges - URGENT WALLET UPDATE! on: February 15, 2014, 07:36:39 PM
14 billion? omg you're right, i thought it was 1.4 billion, wtf? this coin is messed up then surely, the starting diff was way too low, ffs - 2 coins for every man woman and child already?

epic fail coin, with so many about already, it will be impossible to get into double figures Sad

supply by itself means nothing. It's like saying 20 billion x Huh?? =? Market cap is what matters.

Currently it has a market cap 50 folds lower than some junk coins.

Only room to grow.
316  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 15, 2014, 02:07:50 PM
Patience is a rare virtue in crypto apparently
317  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 15, 2014, 12:17:08 AM

took me a while to see "the coke" and thought the narration referred to the good ole coke lol. I was like what? ALL that coke (the snow) for 1 prt? That's optimism.
318  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 15, 2014, 12:15:28 AM
Seems like dev`s forget about PRT. Forum has 402 error, last news... i didn`t see last news Smiley
hey lets all FUD.

Moonmoon posted pretty much daily since saying he was sick. Forums are fine. New algorithm coming. New wallet coming...

New algo ? what algo ?
Don't tell me it will change to scrypt-jane.. that would be awesome.
coin distribution algorithm. .. current mining algorithm is just fine.

Easiest way to follow these kind of things is to search posts by moonmoon on his profile...
319  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread on: February 14, 2014, 10:53:57 PM
Seems like dev`s forget about PRT. Forum has 402 error, last news... i didn`t see last news Smiley
hey lets all FUD.

Moonmoon posted pretty much daily since saying he was sick. Forums are fine. New algorithm coming. New wallet coming...
320  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - No Pre-mine! 6 Exchanges - Community Site Coming! on: February 12, 2014, 10:01:30 PM
Anyone who would like to sell KARM for 3 satoshi, please contact me...
Instead of dumping on coinmarket and bring the price even more down, contact me.

Thanks.

me too. buying at 3 satoshi/million
3 satoshi per million... good joke
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