Hello everyone,

I am currently using Armory for my cold storage. The hot wallet never saw an internet connection and was backuped to a paper wallet. Everything was done with the 0.90 Ubuntu version.

I also created a watch only copy of my wallet to see my balance.

I currently don't have any problems but still would like to know how Armory works in detail.

First, this is how I understood Armory works (correct me if I'm wrong):

Armory has a deterministic way to create new keys based on a seed. All public keys are the same no matter if they are created from the hot wallet or the watch only wallet (I actually tested this, just generating a few new keys in both wallets).

OK now to my questions:
1. If the private keys are not stored in the watch only wallet, how can a new public key be created, that maps to the new private key in the hot wallet?
2. Is the seed of the wallet also stored in the watch only copy?
3. If one of my private key will be compromised, will an attacker be able to generate all following private keys (for example if he has the watch only copy)?
4. Will an attacker have any use for the watch only wallet (other than seeing my BTC balance)?

hope these questions make sense

yes, happens again and again

hello everyone,

I'm currently mining on 2 pools (eligius and slush).

As a miner I use phoenix with the phatk kernel.

the commands are the same:


After some hours, the following message appears in the logs:


On eligius, this is not a problem, as the mining continues several seconds later. But If this happens on the slush pool, the mining just stops.

Is anybody familiar with such a problem and knows how to solve it?

regards
Leif

Hello everyone,

as the us server of eligius is currently down, I was thinking about what the best way is to implement a load balancer.

I thought the easiest way would be to start 2 mining tools on 2 different pools. The hashrate per miner would then equally distributed on two pools, but as one pool goes offline, the hashrate on the other pool would then go to 100%.

Is there anything wrong with that approach. Are there any other advantages of multiple mining (I currently only have one gpu) or am I missing something and that is actually a really bad idea?

OK so regarding this example, wouldn't working on a larger pool make more sense as the chances are higher that another block is discovered during the calculations?

OK I get the theory. But consider this (and correct me if I'm wrong).

- A lot of different independet people (or pools) are trying to generate blocks
- blocks are chained together
- the longest block chain is the valid one

consider the scenario:

I'm on my own. I generate a block. Now another block is created by someone else. Doesn't that make my block usesless as I have to add my block to the just generated block?

If so: the longer it takes to create a block (i.e. the smaller the pool is), the more likely it is that I do a lot of useless work I do an the lesser profit I get.

I most certainly missing something, but in my head this example makes sense.

I'm currently looking for a pool to mine on (currently I'm using the EU-pool from eligius). My hash rate is ~300M.

So I was wondering if it makes any difference, whether I mine on a large pool (discovery of new blocks every 2-5 hours) or if I mine on a small pool.

From what I understand: if mining on a large pool, I will receive (or at least promised to receive) BTC more frequently.

Are there any other differences/advantages/disadvantages of mining on a small or large pool?