Interesting project with a novel algorithm. From what I understand, the algorithm (Dagger) is memory-hard not necessarily in bandwidth, but in space; using something like a GPU (with many threads) would benefit most from having lots of system memory: This algorithm provides a proof of work mining function with memory hardness properties that are not ideal, but that are nevertheless a massive improvement over anything available previously. It takes 512 MB to evaluate, 112 KB memory and 4078 hashes to verify, and even the tinest time-memory tradeoff is not worthwhile to implement because of the bottom-level branching adjustment. These parameters allow Dagger to be much more daring in its memory requirements than Primecoin or scrypt, asking for 512 MB of RAM for a single thread. Because the primary determinant of hardness is memory, and not computation, specialized hardware has only a tiny advantage; even an optimal Dagger mining ASIC would have little to offer over a hobbyist purchasing hundreds of gigabytes of memory cards off the shelf and plugging them into a medium-power GPU. And even in such an equilibrium, mining with ordinary CPUs will likely continue to be practical.
512MB per thread .. wow. I'll remain skeptical of possible speculation about the absence of TMTO solutions, as I've certainly heard this one before. |
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OK, so if I am interested on it, what to do now?
Register for the mailing list on the website or go the the Miami Bitcoin conference I assume, the group hasn't been putting out a lot of information (most of this was dug up from reddit or via Google). I would speculate from the at least 3-5 people currently hacking on GitHub (and the rumoured current staffing of 5-20 people), that they already have a massive amount of funding running into the millions of dollars. |
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Can it be mined with GPU?
Probably, the memory hard algorithms tend to favour whatever has the most memory bandwidth. |
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This is not MC2 and I am not involved in its development, but I am closely watching this to see where it goes!
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I am glad we have the giant distraction of altcoins a'mundo. This is the one to watch... It goes back to simple protocols and a wishlist of many great features. (I hope we can code the superstructure and basic apps before everyone else figures what this "alt" coin is.)  For everyone who felt like they missed out on bitcoin's run - get ready, go! PS. I think I'm going to relearn assembly language and get back into python/go... Hi. I put in the disclaimer because someone in the first post seemed to think I was involved and it's typical for devs/crew themselves to make the ANN threads. I don't really want people hassling me w/r/t this alt chain either. |
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It's like it's counting down to the miami bitcoin conference or something |
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i cannot understand if it will be mineable..
Yes, it is mineable. The focus of the hashing algorithm was on memory hardness, so I suspect CPU or GPU mining. |
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Interesting project. Glad you are supplying the information before an IPO. Gives you a lot of credibility
Just to make it clear, I'm not involved in the development of this project -- just forwarding the information to you guys in case you wanted to get in on the IPO. They're technically a competitor, but I don't want to look at this field as something in which we're working against each other. Rather, I see all cryptocurrency developers as working with each other to generate a financial system for the benefit of the future. |
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There was no [ANN] for this, so I figured I'd throw it up for you guys. As with the other "2nd gens," this is not a fork but rather a complete rewrite of all the foundational code. It does however use some commonalities, for instance the C++ implementation includes usage of leveldb and boost. http://ethereum.org/WhitepaperSource code repositoryForumsFeatures: - Novel "memory-hard" hashing algorithm specification- Use of GHOST blocktrees instead of a traditional blockchain for PoW data propagation- Use of Patricia trees in block data structures - Transactions which contain loop-enabled programmable instructions for the creation of novel derivatives and functions within the blocktree; these are deemed "contracts" - New fees algorithm which adjusts based on several different parameters - New difficulty adjustment algorithm - Data in objects is encoded in recursive length prefix (RLP) notation - Crowdfunding model The author is Vitalik Buterin, among others. Vitalik and co., contact me if you plan to make an official ANN here and I'll close this thread. Please note: This is not MC2 and I am not involved in its development, but I am closely watching this to see where it goes! |
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A quick update; There are a lot of so-called "next gen" cryptocurrencies coming to the forefront. We are watching these closely to see how they fare, including: - nxt - ethereum (source code)- maako's UTXO ledger system/ultimate blockchain compression and his work towards contract scripting for Freicoin (Freimarkets) - bitshares Probably ethereum is the most interesting because it has a new "memory hard" hash algorithm (dagger) and a transaction scripting language that operates like a programming language. The latter may turn out to be totally and crazily dangerous, but I'll keep an eye on it. I contacted one of the lead devs behind it as we live close by, but I haven't heard back from him yet. I want to keep MC2 dynamic, that is, if a new feature becomes something incredibly useful for a chain, we can place it into it with a hardfork. I think modularity is key in keeping up with the ever-changing and rapidly growing world of cryptocurrency. Beneath a layer of modularity I hope to maintain a robust, stable cryptocurrency system that addresses some of the fundamental shortcomings of Bitcoin. I will get back to the remaining BMs/PGP keys later tonight. |
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I have more Ripple than nxt, because I have no nxt. The reason I have no nxt is this: Can I print a paper wallet like I can with Bitcoin?
No. The only wallet in Nxt is the network itself -- all accounts are stored there. The only thing you need to protect is your private key, which is also your passphrase.
Is it possible to store Nxt offline?
No. http://wiki.nxtcrypto.org/wiki/FAQ#Is_it_possible_to_store_Nxt_offline.3FIt's kind of neat from a security perspective, though. |
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Everyone has been messaged who has contacted me.
Ι'll set up Bitmsg and contact you too! Sure. It's a really easy way to do public key encryption, easier for most new users than PGP. Everyone else has been replied to. |
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Just downloaded the source from GitHub and when I run it, it says version 0.2; however, the compiled executable is v0.4
Have you updated the sources?
Oh, my bad, I forgot to commit 0.04 alpha I'll do that tomorrow Hey Tacotime, Can you commit 0.04 alpha? Thanks! pushed |
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Everyone has been messaged who has contacted me.
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Oh they know man. They are just trying to get some traffic to their coin.
Also hey Taco. Radio silence over?
Marginally. People who have been following this thread and posting in it in the last year, please PM me your BitMessage address or PGP keys if you are interesting in helping provide so this chain will go forward. I will be sending out information regarding the model of crowdfunding and the distribution, and when and how much you will be allowed to invest. |
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Those are the low usage settings from guiminer-scrypt. You can use high usage, but >90C is dangerously hot. You need to turn down your card voltages and adjust your card clocks.
guiminer-scrypt also includes the latest cgminer version, so you should get the same speeds in it you do with cgminer itself.
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Looks good!
I love seeing Bitcoin Go projects. It is just such a nicer language to write compares to c++
You'll like MC2 then, we're coding it entirely in Go. |
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For the people who don't code, this is essentially, "if you see some kind of error, just ignore it."
 Actually not. This is a paradigm heavily used in Erlang. If u tried to recover after an exception or even logged it, u would just consume resources without real profit. No, it's more like, if I see some kind of error, let me keep quiet about it!Can you explain how that would effect the actual functionality of the system. Isn't it the same as someone submitting improperly signed transactions so those should be ignored? You keep bringing up issues with the code but without actual explanations of how those issues are supposed to screw things up. It depends where you put it... it's dangerous in most places though because it doesn't class or report the exception and prevent you from seeing any other bugs that might arise while a function is executing. Basically: "Regardless of the error that arises, keep running and do not report it." http://stackoverflow.com/questions/2416316/why-is-the-catchexception-almost-always-a-bad-ideaIt's what I write when I'm in a rush and don't really care when I get some kind of error so long as the program does more or less what I want it to; ideally you would address it properly, but if you're writing something like a program for something non-critical it doesn't really matter. |
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My favorite snippet of code: More than 18 times in the code. Reminds me of all these coin holders who have their head in the sand. For the people who don't code, this is essentially, "if you see some kind of error, just ignore it." |
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Order prior to 15 AUG had no mention of Dec 31. They have been in violation of their original TOS for months now.
This has been curious for me. I e-mailed Samantha numerous times about this, and she eventually said she would be 100% for sure returning a resolution from the company sometime in November. Then she never got back to me about it and quit shortly thereafter. |
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The Golden Nonce is:
The fastest Bitcoin mining chip in the world today — up to 735 Ghash/s per chip!
The most energy efficient mining chip in the world today — 0.59 watts per Ghash when run for maximum efficiency
The most silicon-efficient chip in the world — producing up to an astonishing 2.27 Ghash out of every square millimeter of silicon!
We couldn’t be prouder of these results – and can’t wait to see what the community can do with it. Well, if mine ever manage to materialize they sound kind of nice. |
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