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1  Alternate cryptocurrencies / Altcoin Discussion / Possible security flaw in pure POS coins ? on: April 01, 2014, 04:10:32 PM
How hard would it be to perform a 51% attack on a pure POS coin?

I hear people say "it is allmost impossible since you need to own 51% of the coins" but is that really the case?

Isn't it that one should own 51% of the current available coin age at any given time?

Lets say we have a coin with these parameters:
Total coins: 100 000 000 (virtually all in circulation)
Min coin age for staking: 24hr
Max coin age: no upper limit

Now, how mutch of these coins are elegible for staking and in wallets that is up and running at any given time?
I have no numbers but lets estimate 20%.
What would the avarage coin age be for these coins at any given time? Estimate 3 days
That gives a total staking-power (coin age * coins) at any given time of 60 000 000

If i transfer 1 000 000 coins and leave them in my wallet offline for 123 days then i will have 51% of the total staking power hence make it possible for me to perform a 51% attack.

As i said, i don't have any real numbers just estimates and they could be way wrong but if the coin doesn't have any coinage upper limit i think this is a real risk...
2  Alternate cryptocurrencies / Altcoin Discussion / MintCoin is mineable again! on: March 16, 2014, 07:20:27 AM
As you all know MintCoin went pure PoS some time ago leaving some miners mintless.
Good news, now you can mine it again!!

Just point your rig at this multipool
http://mint.mintpool.us/mint/index.php

It will automaticly mine the most profitable coin atm, convert it into mints and send it to you!

It doesn't work very well with cgminer though, it work best with sgminer.

Happy mining Smiley


Download sgminer here

Create a bat-file with following line:
cmd /k sgminer.exe -o stratum+tcp://mint.mintpool.us:4444 -u YOURMINTCOINADDRESS -p ANY PASSWORD


The multi-pool is NOT run by Mint developers

The pool has already paid out successfully.

If you are having pool problems, please see if you can find an answer here: http://www.reddit.com/r/mintpool/

If you can't find an answer please message pool operator: You can select "message moderator" on lower right hand corner of the Reddit page-Select  ProAMALoL or go to IRC: ##mintpool @ irc.freenode.net
3  Economy / Service Discussion / Is btc-e.com down? on: March 01, 2014, 11:05:26 AM
Did they close too or ddosed or what?
4  Alternate cryptocurrencies / Mining (Altcoins) / 24/7 mining: how long will the hardware last? on: January 03, 2014, 12:33:03 PM
Hi, i have a low budget mining computer and i intend to let it mine 24/7 for as long as possible.

It is an AMD computer with a 500w PSU and radeon R9 270x gpu

I use cgminer with the following command line
 -I 13 -g 2 -w 256 --thread-concurrency 8192 --auto-fan

It produce 350-400khash and the temp is 70-74 degrees celcius
Fan speed 1200-1500 rpm

Is this ok for letting it mine all the time and for how long will it last?
5  Alternate cryptocurrencies / Altcoin Discussion / Do you know about Goldcoin? on: January 03, 2014, 10:14:21 AM
Hi, i just want to inform you all about Goldcoin in case you have missed it Smiley

I am not a developer or a creator of the coin nor do i have alot of goldcoins, i'm just a regular guy that think that goldcoin is a good coin with great potential!
It has a great community and very good developers and a new client is about to be released any day now.

It is listed on cryptsy and coinex and it has its own trading market called gldmarket.
It even has its own p2p marketplace with escrow service! (localgoldcoin.com)

You can read more about it here
gldcoin.com
gldtalk.org

List of goldcoin links
http://localgoldcoin.com/index.php/g-links

Come try it out, you wont regret it Smiley
6  Economy / Speculation / I guess this is what we see happen now on: December 18, 2013, 09:25:00 AM
I read this a couple of weeks ago and it seem to be exactly what is happening.

http://www.cryptocoinsnews.com/2013/11/20/bitcoin-hype-cycle/
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