Bitcoin Forum
May 24, 2024, 12:38:55 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] CureCoin to be released soon. on: May 11, 2013, 10:53:57 PM


1. Since work units are distributed through universities, or eventually any other distributed research network, there is no way around some level centralization.

Will this centralization only extend to the provisioning of the work units, or will the management of accounts and balances also be centralized? How are the rewards for folding handled from a technical perspective? Is it simply one private key held by whoever controls the folding that has the ability to inject an arbitrary amount of coins into the system as a reward? Will there be a trust-fee way for users to verify from a global perspective that coins are only being rewarded specifically for folding and not simply being created out of thin air?

Quote
2. Protien folding will not effect the blockchain. hashers will secure the blockchain (confirm in previous post). Hashers will be sharing a portion measured by bench marking hardware of similar value.

What incentive is there for hashers to not just eventually kick the folders out of the blockchain? They don't do anything to secure it but do take away rewards that could go to the hashers. It sounds like you have an incentive problem.

Since the system is already fairly centralized, do you even need a blockchain?

Quote
3. Yes, the popular demand for Bionc (and others) added to this might not be far away.

Assuming the system is opened up to general distributed computation, will anybody be able to send out work units to be used for generating CureCoins or will you have to register with a centralized entity to do so? How do you intend on keeping the varied participants in this scheme honest?

Quote
4. I think what you asking is about : difficulty rises will be similar to other coins, but not as extreme, and the starting difficulty and retargets designed to prevent huge swings in difficulty. If this isnt what your after , sorry, i try to study many fields but economics bores the hell out of me. Thats why im listening closely to the economists giving me advice about this.

What I was asking is how many CureCoins will there be, and how quickly will they be generated?

You're pretending like CureCoin is anything but a half-baked and poorly-thought-through idea that borders on scam territory. I don't think the OP has any idea about your questions. None of the idea, as written in the first post, makes any sense.
2  Alternate cryptocurrencies / Altcoin Discussion / Re: Official Poll for "CureCoin" has been requested by Stanford University on: May 01, 2013, 05:34:38 PM
This idea doesn't make any sense.

Protein folding simulation is indeed very computationally expensive, but the results of such a simulation are not efficiently verifiable. Therefore, you cannot base a "proof of work" system on this, and the entire idea of CureCoin is meaningless.
3  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][LTC][Pool][RBPPS] WeMineLTC.com | 0% FEES! | Stratum | DDoS Protection |!! on: April 26, 2013, 04:41:01 PM
If you have a problem with our pool feel free to mine elsewhere, no one is stopping you. 

I'm not accusing you of being a scammer; I'm just accusing you of being incompetent. I think it is important for this sort of discussion to occur so that everyone knows exactly what is happening.

I'd be very wary of mining in a PPS pool run by you, because this is how the next notroll.in happens: an undercapitalized pool accidentally pays too much and then runs out of liquidity entirely, leaving a lot of miners holding the bag, an outcome unfavorable to litecoin as a whole.
4  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][LTC][Pool][RBPPS] WeMineLTC.com | 0% FEES! | Stratum | DDoS Protection |!! on: April 26, 2013, 04:27:08 PM

2 posts. Really thats the best you can do? We were RBPPS, and we are well aware of what it was. Now we changed it back to PPLNS sine our users requested it!

On a side note, luck is finally smiling upon us Smiley

You were never RBPPS. Show me a single payout report that paid according to a RBPPS system. Repeatedly changing your payout structure and not updating any of the documentation also doesn't help your credibility. Here's my evidence:

Wow! 50 share block, and i managed to get 5 shares in for a payout of 4.44LTC... thats ~110% of my daily income in one block. Nifty!

This is a proportional payout scheme, where the payout is proportional to the number of shares that you submitted for a given block.
5  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][LTC][Pool][RBPPS] WeMineLTC.com | 0% FEES! | Stratum | DDoS Protection |!! on: April 26, 2013, 05:52:39 AM
Could you guys detail your RBPPS system more for us, i've been monitoring my round estimate and it's gone this way chronologically 0.03221045, 0.0324975, 0.03242685, 0.0323124
correct me if i'm wrong but in RBPPS during a round shouldn't the total keep going up within a round, not kind of level off(and certainly not drop)?

It's not RBPPS. It's just proportional (which of course makes it vulnerable to pool-hopping, which is why some people might see low payouts compared to what they're used to). The owners of this operation have no clue what RBPPS is.

what was the problem? I dont quite understand it, how the pool is doing a poor job since its all automated? The Payout report we put up today was put for this simple reason: COMPLETE TRANSPARENCY and i challenge every pool operator to do the same. As for the rest of the LTC that you refer to, what you mean? You miss LTC from your wallet? I dont get it :/

Well, for one, you don't know what RBPPS is, which involves a flat PPS rate that is paid as soon as the relevant block (the next one found by the pool) is confirmed and not orphaned. Essentially RBPPS is just PPS without the risk of orphan blocks (which have a higher risk of happening on litecoin than bitcoin because of faster block target times). You run a proportional pool. The fact that you can't get simple terminology correct makes it difficult to trust you for anything else.
6  Other / Beginners & Help / Re: Whitelist Requests (Want out of here?) on: April 25, 2013, 05:07:35 PM
I'm requesting whitelisting. As an example of my contribution, I would point out that WeMineLTC.com is not a RBPPS system (which is a flat pay-per-share rate that is not paid for orphan blocks), but is in fact just a proportional system in the WeMineLTC thread.

Their literature has the contradictory
"
Our Pool uses RBPPS or Round Based Pay Per Share. What this means is simple, you get paid for the amount of work you did to find the block!
"
and fixing the terminology here is important. More importantly, WeMineLTC is vulnerable to poolhopping, which is probably part of the reason people receive significantly diminished payouts to what they expect.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!