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Great pool, with great support. I had a small issue and they were on it fast and worked with me through it.
Keep it frosty guys.
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Hey so this was before my time, but I hear this small business; the biggest Bitcoin exchange at the time. Got hacked lost a bunch of BTC then filed for bankruptcy freezing everyones funds. I know there was more to it, but most of it has been a warning for newer adopters moving into the market. Don't leave your BTC on an exchange, further to that anywhere you don't control the private keys. Reading up on them a while ago, it looked like a slap in the face was coming for the customers who have held out hope of receiving their funds back... at that point in any shape or form. The twist was that while FOMO was fueling the meteoric rise in BTC price, the CEO of Mt. Gox was about to earn a mint as Japans bankruptcy laws would have made the restitution equal to the FIAT value back in 2014. Crazy right, would have been a kick in the teeth to many. Well your teeth can be placed back in there proper mounting as a court in Japan, halted the Bankruptcy proceeding and started a Civil rehabilitation progress. The gist of that is that you will be paid back in BTC. Now I don't know what the percentage of payout compared to the amount held is. I can't imagine it will be a 1 for 1 because they obviously lost hundreds of thousands of BTC. I can only imagine it will be better than it was going to be, and better than nothing all together. Hopefully this puts a smile on any long term adopters face. Bonus you can still cash in on the many Fork coins that would accompany those BTC. Here is the article I found discussing the payout. https://cryptodisrupt.com/creditors-to-receive-1-billion-bitcoins-in-mt-gox-settlement/ And just a nice round up of Mt. Gox's past https://cointelegraph.com/news/the-mess-that-was-mt-gox-four-years-on |
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Off-topic,
Any oldtimers here who lost funds in the MT. Gox debacle?
I just read Japan changed up the proceeding to force settlement payouts to be in the form of BTC, as opposed to the FIAT option the bankruptcy proceedings would have had.
That is all.
Mine on. Oh yeah got 3 more 741's online today, just waiting for my PSU to show up and I can turn on their loud idiot stepbrother, T9+.
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I bought 3 of these units. Everything went well. They came in original packaging with all original cables as stated. Seller had great communication, and I would do business with them again. Might still if I make some room  |
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It's worth posting the plain text interview bitpico did with for some website:
Looks like they tried to bring the LN network down too and they couldn't, I cannot wait to see how Bitcoin Cash handles the pressure. Their nodes are certainly centralized by some Amazon VPS in China. Full 32 MB blocks are going to crash most of the nodes if they have the resources to sustain the attack. Doesn't look to good for BCH, if it gets exposed it will be the end of the "blocks as big as needed" scaling approach.
BCH fans can't also claim that this is a blackhat attack. The fact that they are advertising it and giving a deadline is very whitehat. When Jihan, Roger and co spammed the Bitcoin network, they didn't say anything. The attack could be even more brutal if made by surprise at key times, but they are being nice.
Definitely worth posting. As far as the attack; their obviously not trying to hide it. It's as transparent a test as I can think of. It's no different than equipment before being installed you test with the anticipated result of finding the limits. That's cute, but it's probably not going to work. The article's author is confused about how a 51% attack works. What BitPico seems to be planning is a "stress test" of extremely large transactions. They believe the following will result:
And something tells me Bitmain won't let their baby be attacked so easily. If the majority of Bcash's hash rate is controlled by Bitmain or its proxies (and I believe that's true), they may be able to sidestep the attack very easily by censoring the attack transactions. The attack transactions will apparently be extremely large :
That's pretty absurd when a well-capitalized company like Bitmain is extremely invested in Bcash's success. I would also be very curious to see what funds BitPico has set aside to pay transaction fees. Attacks like this are not free, and their model depends on driving transaction fees up.
Yeah the first reading left me a little confused. Franky helped clear most of that up for me. I wholly expect Bitmain will have its issues with those, but like I said I firmly believe this to be a schoolyard callout, as in prepare yourself as best you can I'm coming. Looking up BitPico they talk about Whales. Know I don't follow wallets, but if any large holders cashed out and bought back in over the last 8 months they have funds to spare.
I'll help.
Thanks. I'm not as active away from work.
in any case i hope they stop the social media bullshit and stick to the attack and then release more clarifying information about it. i believe they are exaggerating a lot of things.
I only like the social media aspect because it creates some transparency. It says watch us and then you can judge us and the coin. I honestly don't know enough to guess if they are overstating
(Incidentally, are you nutildah also steamtyme?)
No, I guess take my word for it. Although I do realize I have started at a negative level of credibility with you. Consider it my way of making up for lost time in adoption. To add to the "backers" I would put bitmain in there. Definitely created a market almost instantly by accepting BCH as a form of payment for gear. Here's the thing regardless I'm torn on this coin, for entirely selfish reasons. I don't think it affects overall crypto adoption when you consider the thousands of other coins and forks. I just think if your coin is as great as advertised, run it on it's own merits; which I guess this testing may quantify. I mine BTC, this coin at the moment does pull a massive amount of hashrate away from BTC,an amount it helped create, helping keep mining an option. |
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BCH is a system made up of inanimate entities. Accordingly, BCH doesn't claim anything.
Correct, in this instance I was referring to the backers of BCH, passing it off as BTC. Sorry if that wasn't clear |
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a 51% is an empty argument scare tactic.
imagine if you had 10 friends(nodes). your all handed a piece of paper thats green
7 of your friends. reject it.. but you and 3 friends continue.
all that happens is that 70% of people just delayd.. THEMSELVES
...
the only real disruption is not from altcoin creating (pico's challenge)... but..
to really disrupt a network is to have enough mining power to regularly make blocks and then . make blocks.. following the rules so that they are acceptable.. but then simply dont add any transactions into the blocks
and while doing this. spam the mempool with transactions the other pools would include, to cause a bottleneck..
as for the argument about "rejoining the ntwork"... wel btc is several blocks ahead of bch..
so why doesnt pico just try making a clone of btc data chain rejoin bch to disrupt bch.... the answer is simple. bch and btc are not compatible and thus reject
so why doesnt pico just try making bch rejoin clams to disrupt bch.... the answer is simple. bch and clams are not compatible and thus reject
so why doesnt pico just try making bch rejoin btg to disrupt bch.... the answer is simple. bch and bitcoin gold are not compatible and thus reject
Thanks for the analogy. The network spamming sounds like the route they are going. I seem to recall someone doing a breakdown of this in regards to large pools that don't pay out transaction fees, to drive up the fees per block. I know a fork can't rejoin after the fact different rules and what not. I guess with the last one I was thinking the BTG attack where they created double spends . These attacks are where I'm still fuzzy . Interesting... You can see in this shitty graph I made that they did attacks on 6/18, 6/21 and to a lesser extent 6/25. It looks like so far the network is holding up.
BCH won't actually hold their own stress test until Sept 1st.
Not shitty if it gets the information across They did say this is going to be a sustained "attack". Guess well see. If they aren't successful it will just save the BCH backers some time come September. |
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Could you link the user?
The thing with merit is that if the user is a legendary they could in theory have become legendary anywhere between 775 and 1030 activity.
So if they had 1000 posts between January 2014 ( i think) and January 2018 before the merit started it would seem extraordinary if you don't understand how the roll out happened.
If you were legendary when the merit dropped you then had 1000 merit from day one.
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Hello. Just wanted to let everyone know this thread is no longer being maintained. The Gleb account will be inactive for the foreseeable future
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if it was just miners. then when the pico pools make a block that deviates from the rules the bitcoin cash network has, the network would just reject the block.
it would need to be a node AND pool attack.. but the end result is the same. they just hash blocks only their system accepts.
its not disruption. its just altcoin creating and social distractions.
anyone can create an altcoin from any network. it does not even need to be 5000 nodes and 51% of hashrate to achieve it.
thus its just distraction drama to keep the "lets keep fingers pointing at ver" drama alive. much like kardashian drama, in the end
the core supporters have already done damage to the community with things like
"blockchain cant scale". meaning they are saying that satoshi's invention has failed
saying LN is the only solution. which is not an immutable ledger network and not even a network thats uniquely going to be used purely for btc
plus they are saying with factories. the users never have to resettle to a blockchain ever again...
showing that it can fork into altcoins
the revolution has been CORE-poratised
funny part is.
ver, bloq(segwitx2) samson mow/lukejr(USAF) and core devs are all paid by the same investors
which is why fee priorities, onchainscaling, trust of zero confirms, bypassing consensus and soon even PoW were/have/will damage the origiinal 2009 ethos of bitcoin
Thanks for all the info. I'll be honest I haven't really looked into the core team. I like to try and spend about half my time reading up on the progress/damage done over the years. So you've given me some good places to start reading up, as I've mostly focused on scams and vaporware. I've only spent a little time reading up on LN because I had no idea wht it was, now I just have the basics. Know to best the dead horse so to say. Isn't a 51% attack supposed to hijack the blockchain for a time, through forking and running parallel so to speak. Using this time to usually create transactions and move/sell double spend coins. Then, and I'm really fuzzy on this part, releasing control back to the original blockchain. This is what I assumed was in mind. |
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I just assumed it was going to be machines from their group running the attack. Maybe any anti Bcash miners out there who jump on board if that option becomes possible.
Based on that, I was guessing they aren't planning on keeping any of the forks alive (nothing to back this up) just using this as a disruption to the Bcash network to show its vulnerabilities.
It would seem really counter intuitive for them to create these forms and then keep them alive. Unless their only issue is that Bcash is claiming to be Bitcoin. If that's the case why a waste.
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So while enjoying my morning coffee I was enlightened as to more of the upper echelon of BTC adopters. I had never heard of BitPico, but it sounds like they know what they're doing, and are most likely BTC purists. This is probably why they have an issue with Ver and his attempt to make BCash the new BTC. This group is stress testing "his" baby with a sustained 51% attack, and they aren't even hiding about it. They told him, lol. I read this article and it discusses how they did this with the lightning network to test it's merit and see how well it addresses previous issues with network scalability. This group was apparently a driving force behind Segwit2x, and had seemingly dissapeared before giving the lightning network a good working over. I don't think the idea is inherently malicious like other 51% attacks, except with the obvious intention of making Roger Ver cry. They are just performing due diligence for a coin that came out of nothing and was "given"/pumped to #2. https://bitcoinist.com/roger-ver-bitpico-hard-fork-bitcoin-cash/ |
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The price is getting so low I'll have to scoop some more up.
Good for scooping, but not so great for mining. Difficulty up and price down  My last check difficulty is still down at 18.09 k. Still way down from when I started mining it at 27k. With the price going down I would expect another diff drop, people will likely panic a bit and move their rigs elsewhere for a while chasing short term profits |
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Completely agree. It is absurd that a scammer can have a Legendary rank. This could be easily avoided by implementing "negative merits". Maybe those "negative merits" could be given only by legendary rank or something like that, in order to avoid spam or something similar (like bcash-reddit-spammers  ). There is such a thing it is the negative trust given out. So if you are dealing with somebody check their trust rating and also look into untrusted feedback, check the reference. Take untrusted with a grain of salt though as it can often be retaliatory. Sorry for the Off-topic. |
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I get that you are looking for hard and fast numbers but there aren't any. I guess you could say ideally Spam reduction will be 100%. Other than that it is more about the experience and that's not always quantifiable.
Merit system was not introduced to stop spam and it certainly is not even close to 100% reduction. What it was introduced for was to prevent those that offer poor quality posts from ranking up and those who do post quality posts be rewarded through merit and eventually be able to rank up. This only acts as a reduction of spam there will still be many people who dont care about it especially because the majority of new members are looking to earn money through a bounty campaign which are accepting any rank. Please note I did not say it has been reduced 100%. That was a best case scenario of what any system could bring, as OP was clearly looking for fixed numbers.
I'm hoping that this system will increase post quality by:
- Forcing people to post high-quality stuff in order to rank up. If you just post garbage, you will never get even 1 merit point, and you will therefore never be able to put links in your signature, etc.
- Highlighting good posts with the "Merited by" line.
I personally take this as an attempt to reduce spam, worded differently. I can't remember where but in the beginning this had been described as a way to reduce the spamming of this forum. Your right about the Bounties as opposed to the SIGS and if I'm not mistaken those Bounty hunters only post in their bounty threads and spew garbage over other social media platforms. Whereas SIG campaigns pay to post in most sections of this forum. This can cause spamming so any barrier placed in the way of a larger payday IMO helps in reducing the spam issue |
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Your answers are pretty much covered in the OP of that thread, to the extent that they exist.
Specifically Merit is intended to increase post quality.
As far as measurable, this will be an opinion or an overall feel of the forum as you explore. Well mostly Users who have been here for a while will notice this.
It is acheivable, because not everyone will be able to wear SIGS immediately and cash in at a higher rank without being a decent poster
Relevant - to what? The system is relevant to trying to curb the problem
Time-Bound, no there is no timeline, and that is why there is no rush to make changes or tweaks until there is a decent baseline to review the system. I've heard some people talk 6 months to a year before making any judgement, and that's just Legendary members reserving judgment.
I get that you are looking for hard and fast numbers but there aren't any. I guess you could say ideally Spam reduction will be 100%. Other than that it is more about the experience and that's not always quantifiable.
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Price is sinking faster than the titanic, miners selling every coin to cover electric bills are weak sauce.
Well it's a good time to buy if you believe in the project. They are working on getting the Asset layer developed and tested, which will showcase the value of the project. Having been on the discord a while and watching the news come in, most people are talking about this being a slow rise sometime after the summer and should things go as planned a promising Q4. A lot of people are still expecting an overnight boom, then Lambo's. Not going to happen, lol. I managed to sell quite a bit of what I mined at 520 so that has freed up the electricity to run for a few months. No dumping for this guy. |
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From mprep Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQBeginners & Help - All primitive questions (to pros like us Cool) like "what are ASICS", "who is satoshi" and "what is mining" should stay here. I would report them to be moved to ALT coin; but it depends on the question. This will be on a case by case basis as the what you consider a "primitive" question. Something like what is the difference between Shitcoin A and Shitcoin B, could probably stay there. Most of them should probably be moved I would maybe PM "miningbuddy" and get their thoughts as they are the moderator. |
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