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If you make it only four confs to spend, yes. That's the same security as less than half of a Litecoin block, but actually much less because FastCoin has far fewer people mining on its network.
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This isn't my first time in this thread, but I couldn't resist. I don't have anything against KnC, and would like a 750 GH/s product so I wouldn't have to worry about breaker problems in my house.
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will there be a half Neptune, a 1.5TH machine?
The Uranus? I for one would gladly plunge my BTC into a KnC Uranus |
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More blocks != more security, since the amount of work for each block is less...
I could make a 100 msec block coin, and we could all do double spends all day if we only made it 6 confs to spend.
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I'm sure there will be no profit in this setup. Sure there will. I can guarantee you KnC will make a very nice profit from these.  |
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These power cables are only intended to carry 75w each, while 8 pin connectors can carry 150w each.
This is PCIe spec, not molex. Well, each 6 pin has 3x 18 gauge awg 12v + ins, which should hold 10 or 11 amps each in theory. That means a max wattage of 360 - 400w each, but you get pretty close to the max at 600w load. If the psu cheaps out and uses 20 or 22 gauge awg you will probably run into problems. |
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I've been GPU mining litecoin/bitcoin for years and have never seen this .. the problem is that you're exceeding the 6-pin's capacity severely. These power cables are only intended to carry 75w each, while 8 pin connectors can carry 150w each. If you intend to have these running at 600w as the latest rigs have been, you need 4x 8 pin connectors. Why the designers chose to do something so glaringly out of spec is a mystery to me.
In the meantime, I would suggest that people begin connecting the 12v lines from molex or 6/8 pin adapters directly to the +/- terminals at the other end of the hboard in addition to the 2x 6 pin adapters. My rig is only pulling 390w, but both cables remain warm even at an ambient temp of 4C
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Posts for controlled drugs aren't allowed here, and amphetamine is schedule 2.
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People are funny.
- If a community attempts to be completely transparent, there will be a group to game the system
- If a community does an interview, doesn't tell anyone until last minute, now they would be accused of having insider information and using it to buy cheaper coins
Peercoin is open. If you choose to support the coin, great. If you choose to avoid it, great. Like we said, we can't control when anything is being posted. We don't run the papers, we're just happy for the exposure and looking forward to seeing new people interested in crypto.
Unfortunately I saw giant rises in LTC and PPC prices after I created two threads here about them being undervalued... sometimes I wonder if, in the future, I should just keep my mouth shut. |
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Am I the only one that thinks this is complete bs so OP can stack up on PPC and dump on everyone when "sunday morning nyt" article gets published? If you look at the price of PPC it is rising substantially now.. I would be wary to buy in expecting such great news
Nah nothing like that is going on. It's very much happening.  |
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HashFast is back in touch with me, I've asked them to get me results about the chip testing back to me ASAP. As suspected, everyone there has been scrambling to get stuff together for their product launch.
I hope we'll know how these perform soon!
PCB assembly shouldn't be that time consuming, so as soon as we have tested functional chips I'm hopeful that HashFast will go into production.
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Another point which Id like to make is that since this idea has come about almost a year ago, most of the ideas involved with the original "development" have already been implemented in other ACTIVE coins... Dont mean to be rude here but what is mc2 providing that hasnt been done by this point? And do you mean to say that NO development has happened since the may whitepapers were released? What is the innovation here? POW and POS has been done plenty of times and scrypt as well... whats the idea?? We need a little more than "You can trust us" and "we've been working on it" Im legitimately interested, not meant as a troll.
The idea upon releasing the whitepaper was that some people would implement some of the more important features of this coin. To some extent this has happened, to some extent this has not. Regardless, there are some other features to be implemented that aren't being detailed or talked about here right now. We also didn't want to do this without a transparent, reliable dev team, hence why it hasn't gotten off the ground yet. I didn't really ever intend for this to consume as much of my life as it seems to be doing right now, because I have a lot else going on. However, there are a lot of people looking for innovation in coins lately, and so recently a lot of attention has come my way. Now things have progressed from "quiet" to "guardedly quiet" as we try to hash out the actual implementation and get things organized. |
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I mine POS and don't think twice about including transactions, not to mention the fact that it would take work to modify the default behavior of the client to NOT include transactions. Even with an orphaned POS block, the downside of that is much lower than the downside of an orphaned POW block. In an orphaned POW block, your work is completely wasted and you start from square 1 for the next block you attempt to create. If your POS block is orphaned, your coin-age still exists, and the "work" you lost to create that block is minimal.
It's less of an issue because of this, yeah; the bigger danger is collusion and forced fees if an entity amasses a large quantity of stake. |
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Regardless of whether or not there is something up his sleeve, this discussion is relevant. If people can prove why PPC is flawed or doom to failure long term, then they're doing OP and other potential investors a favor by discouraging them from investing in a cryptocurrency that will ultimately prove worthless. If PPC actually can live up to its expectations, then there's real value to be had in a successful POS implementation and both investors and the cryptocurrency economy could benefit from it.
I don't want to go into a lot of details, but there are a lot of weird things about PPC that I haven't liked. - The per-block difficulty adjustment algorithm encourages DDoSing of pools, because doing so results immediately in a lower difficulty and higher rewards - There was a stake burn-in vulnerability a while ago that Jutarul published, and SK subsequently "fixed", but he's always refused to go into great detail about how the fix works and what vulnerabilities might still be present that allow you to spam/double spend with PoS blocks - SK's code in general is nebulous - Fees are destroyed, negating incentive to include transactions in blocks. Even in Bitcoin, you have people submitting empty blocks because their chance of being orphaned is less. SK's response is the same as when you complain about any feature in his chain that might break it: "I don't think it's a problem, but if it is a problem, I'll fix it once other people break it."- Even Gavin called PeerCoin's design "half-baked"Quote from: Sunny King on February 19, 2013, 03:52:16 AM
If you ask Gavin about his position on this matter he likely would have to tell you the same thing. ... or not. There's a difference between "unfixed vulnerabilities" and "half-baked design." I think big decisions that affect the fundamentals of the design should be discussed in the open (see the current Bitcoin debate over raising the block size limit). - Not really a negative, but the current reward algorithm will result in the supply output being cut 16 fold because of the 1000 fold increase in speed and efficiency of newer ASICs; it's expected that in the beginning of next year PPC reward per PoW block will be about ~15 coins. This is why the value of the currency is going up, but it's terrible for volatility. - Stake block generation is erratic and stake blocks all have trust scores that are different and based on the cumulative coin age; no one knows exactly when a transaction is validated by PoS blocks or if this system will be easy to game for a double spend if you have a large supply of coins. PoW blocks have almost zero trust if I'm recalling right, so the hands of the network is in the PoS miners (except in the exchanges that simply ignore PoS blocks for deposit and use PoW confirmations) but no one ones how secure this method will be against double spend. You can rest assured that if there is a theoretical problem, SK will dismiss it, and then if it actually is a problem and someone exploits it, SK will release a patch out of nowhere to keep the chain going. But what happens if he suddenly disappears? I'm heavily invested in PPC because I know with the crazyass reward algorithm the price will probably explode in the next 6 months, but I don't feel like I have long term confidence in the chain. |
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My USD block erupters are hanging out and mining PPC
They're at 200% ROI in terms of fiat, I'm okay with that
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So if you have to pay additional fees you will most likely switch to another payment option (which would mean selling all your coins).
Bob, Nancy, and Phil might remain the only ones in that network. I doubt their coins will be very valuable then after all others have subsequently sold their coins.
No good idea for Bob, Nancy, and Phil not to behave fair.
Yes, but all it takes is adding an extra output to one of their addresses for each transaction in the blockchain. And if they start charging a few fractions of a cent and the coin is worth something (like a dollar as it is now), it's just going to make for a chain with "regular" transaction fees and destroyed transaction fees. So, you would have a direct financial incentive to do so, and no one would be able to stop you. This is the same thing that goes on with arbitrary banking fees worldwide, and the end user is powerless to stop the bank because they need to transact money. If you're sneaky enough about this you can do it under the guise of something like, "the PeerCoin network improvement fee that goes towards research, innovation, and development of the PeerCoin cryptocurrency." |
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I wish he'd consider interviewing some people here, there are a few things I would say about it. If you're out there NYT, you can reach me at dev.mc2@gmail.com |
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^^ Doesn't that give PoS miners an incentive to start charging people to make network transactions outside/inside the chain if volume is high? e.g. Bob, Nancy, and Phil have the majority of stake and collude to only allow transactions through the network if the end user pays a fee to them via their centralized website or the blockchain.
My thoughts have always been that PPC in the long run is a trainwreck waiting to happen, despite the fact that I'm greatly invested in it in the short run because I believe that the difficulty/reward algorithm will quickly make for a massive pump.
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