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Hired INVACTUSRIG2 (SCRYPT 8.00 MH/S) for 24 hours.
Half way through(about 12 hours in) and the performance has been excellent. I've been renting all kinds of rigs and this one is giving me the best results so far.
Thanks!
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Peer reviewed already exists, it's simpler than you thought. What first needs to be realized is 90% of papers have paid for articles so if you don't like I suggest reading nothing but blogs. (Even then fiver exists to pay bloggers for stuff) This is an issue that really isn't an issue. It happens this day of age, media has always lied. Your smart enough to know that. So why are we acting like this is a huge scandal?
However, how anyone could mistake PRESS RELEASE vs straight fraud makes THEM the idiot. Let's get this straight; he mentions coindesk as untrustworthy. So now if you ever go to coindesk your a hypocrite etc.. Sticking with this logic, medium is a journalism platform THUS it's not to be trusted. Want to know the solutions? GOOGLE! It's really that easy, simply google what you want to know. That way you can form your own opinion.
The article is pretty shallow with evidence aswell. All he shows is emails, he never BOUGHT anything. Those emails wouldn't hold up in court. Enough said, innocent until proven guilty.
Surprise, surprise. FrozenBit the king of shill accounts and shady marketing is defensive again. Shocking.  |
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Developer Analysis
I am very pleased with the launch of Bitmark. No bugs have been reported.
Mining has been interesting, the opposite of what normally happens when an alternative coin is launched.
Normally alt coins are hash-raped by people with mining hardware, ready to be dumped on 'investors' at an exchange. Mine a coin to dump for BTC.
Instead with Bitmark we find investors hiring mining rigs, with no exchange planned. Burn BTC to mine and keep Bitmarks.
You forgot the small miners. I was the one who mined the first block (thank you for the honor and I mean it  ). The next second I saw 2Gh/s and guys with 600 Mh/s mine it. I said to my self, another failed launch. You know, small miners like to earn some coins too, and they are the basis of a community. This is not gonna be happen with me, with 0.001 coins per round. Make your community with the 20 guys who mine with 30-500 Mh/s and earn all the coins. When they gone maybe I will return. What do you suggest can be done about that? Most of us here are all small miners too you know. Even coinsolidation who created this whole thing himself. I can see him on the mining pool right now at only ~11mhs. It's still probably worth it to mine even with just a few mh. I am doing it. I'd like to make sure I can have at least a few BTM for the long run. |
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Which resources do you feel are missing from the project? We should prioritise which work to do this week. Some I would prioritise are: - the IPM pool
- block explorer?
- begin API design and architecture discussions (above post)
- website?
- identify potential adopters, good pools, existing crypto currency services which add value to users
I think the order you listed them is a good order of priority. Although I would put the block explorer in fourth position and move the API and website up to second and third respectively. Since we already have a working block explorer for now we can afford to wait a little before adding another one I think. |
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This is good to know and valuable information about what sites to read and which sites should be avoided.
I'm not surprised at all really though. Bitcoin has always been extremely shady.
Actually a little surprised that Coindesk has a reasonable policy! Good for them.
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That's a good suggestion and I'm surprised I hadn't seen it brought up before. With all the white papers flying around a good peer review process and an central depository where they can be published would be nice. Also people can publish their formal criticisms as well.
I think it would do the community some good to have something like this.
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Proof of State coin is not a decentralized currency.
This sentence is wrong in so many ways. It's insufficiently specific, but existing examples which require developer controlled block signing or closed source software don't really pass a sanity check as decentralized tools— though they're often marketed as such. You may find this enlightening: https://download.wpsoftware.net/bitcoin/pos.pdfI believe Come-From-Beyond one of the NXT devs devised a solution to the main issue of 'nothing at stake' after a discussion with Vitalik Buterin who wrote an article outlining some problems with PoS. Once PoS works out all the current issues it's going to be hard to argue against it I think. A lot has been happening this year so far. I guess a lot of people are thinking that a robust PoS system is not possible at this point, but with the amount of work being done I wouldn't be surprised to see solutions developed by early next year. |
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Also, just remember that no one here is claiming Bitmark has any value yet.
And no one is telling anyone to buy Bitmark.
It's a long term project. This thread is here in the spirit of openness so that the public can track what coinsolidation(Mark Pfennig) and others are doing on here and on GitHub. Also so that we can discuss issues that come up in an open and transparent manner.
At this point the network is very healthy and that's a good thing too.
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Project Status / Request for Funding
We have now achieved the amount needed to launch the project, 0.6 BTC.
True that, crap clone coin costs around that much at Coingen or some similar coin-creation service. So when can we expect to see this one on an exchange?
Why add this crapcoin to exchange? It seems most here fell for thousands of lines of nicely written yet slightly retarded stories but this coin is Coingen-made scrypt clone. There is absolutely nothing special about it and all signs of bullshit are present. Instamining was massive, to start a new scrypt coin with difficulty 1 this days equalls either complete lack of mining hardware and cryptocoin scene awareness or deliberate scam - it was later case, just in case you are still wondering. Using blockchain explorer it is easy to realise how it all went: http://cryptexplorer.com/chain/Bitmark?hi=770&count=100Scroll down to block 720 and observe block times while difficulty was 1.0 and after it changed to 4.0 there is very little difference, blocks were mined just few seconds apart. Situation went slightly better after next retarget from 4.0 to 16.0 (maximum possible upward change which means hashrate for blocks 720 to 1440 was at least 4 times higher than desirable) but at that time 28,800 coins were already instamined, out of 45,100 coins in existence (based on latest data from blockchain explorer at time of this post). As for other things, if you belive this crap clone has a future you are truly retarded. Happy mining, investing or whatever other shit you are after for here.  Actually, I'd appreciate it if you could expand a little on why you think what happened is going to be a critical issue going forward. It wasn't intentional. But it happened. So I'm not really sure what we can do about it. A few people have access to a lot of hashing via ASICs and they pointed them at Bitmark and there was a short period where blocks were being solved much faster than the target. So, some people who have invested a lot of money in hardware or at least paid to rent a large amount of hardware have more coins than the rest of us for now. Since Bitmark is a long term project unless they keep pointing all that hash at the network people will continue mining and will be able slowly accumulate some more coins over time. There are no plans for Bitmark to be listed on any exchange anytime soon and it wouldn't really matter either way if it were. Someone dumping some coins doesn't really change the goals(long term) of the project. If you think differently I'd like to hear some specifics on why you think what happened is such a critical issue. I'm not saying your wrong, I don't know if it is or not but at the moment I don't really see it as a huge problem. Maybe I'm wrong though. Also , if anyone else has any opinions or comments I'd be interested in hearing those too. |
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I think someone missed the launch.
I think someone needs an update on current time, a year is no longer 2012. but 2014. Right, so that's why Bitmark is using a brand new original implementation of the latest Bitcoin release forked and recoded to use scrypt. It is 2014 so we start with a full updated stable codebase and go from there. Every other coin has been forking old code. I'm guessing you haven't read any of what has been going on here. |
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Was such a good campaign too. I'm gutted.  |
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Sad news.
Was the best campaign I've ever seen.
Guess I'll take a look at the affiliate page.
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I lived in Thailand and BTC was never really banned. There have been other exchanges, namely BahtCoin running uninterrupted for quite some time. With that said, this is a much better exchange and I'm glad it's back.
Thought bitcoin was banned in Thailand last year. No, the Bank of Thailand reviewed their stance on Bitcoin and clarified it. And now there are two exchanges operating legally in Thailand. |
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Figured out what the problem was.
Basically every time the main system queried the stratum client wallets it would look through the last 400 transactions and update the confirmations.
Because up to now no coins on the pool had had greater confirmations required than 120, the last 400 transactions would always catch the needed blocks and update the confirmations.
Because bitmark requires 740 confirmations to mature a block the pool began to miss updating confirmations which then meant blocks were not getting paid out.
The problem was compounded by the fact that because there are two stratum servers the one with less hash on it was updating confirmations correctly as it was not finding nearly as many blocks as the other. The system would then only look back as far as the last solved and confirmed block paid out to process and pay new blocks.
Luckily all shares are recorded and logged on the system so all I had to do was write a quick script that replayed through the unconfirmed / unpaid blocks.
I have also updated the transaction query from the main system to look at the last 4000 transactions instead of the last 400, so this should never happen again.
Apologies for any inconvenience / stress etc caused by this.
Good work, thanks. It seems to be displaying a number now in my balance that looks to be around what I expected it to be. |
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I noticed that Execoin just released a forked and modified electrum with a 'stealth' option. Not sure on any of the technical details yet on how their stealth option actually works. But since we we've been discussing forking Electrum at some point anyway, perhaps it's worth looking in to their implementation for Bitmark at some point in the future if it's well done. https://github.com/fukukami/electrum-exe-stealth/http://www.electrum-exe.org/stealth/I can imagine that we'll be examining lots of different features similar to this as time goes on. Although I guess this would fall under the 3rd party category since I don't think this has anything to do with the core protocol, no? |
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Woah, yeah. I just woke up and I have less total earnings(24) then I had when I went to sleep.  And even before then I remember by total earnings going down by about a third. I wasn't sure if I was reading the fields wrong or what. It seemed like when I had coins confirmed I was losing more than I was getting from the 24 hour total. edit: And total earnings went down by about ~25% again. |
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Cool. I guess tomorrow we can see some of the first transactions when the coins mature and are ready to be sent. |
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If I (or any one of us) had control of a botnet we would not be involved with Monero. Trust me. We would have much more profitable fish to fry (ransomware, for instance).
Uh, wow. lol. I hope you forgot the quote the /s in that post or something. |
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BBR dev has fixed some issues that are mentioned in the post. Ask crypto_zoiberg (BBR dev) for more details Given how on the ball this guy seems to be I wonder why BBR isn't doing a bit better than it is. |
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Don't get too excited just yet. Remember, Thailand recently had a coup and is currently under military rule, so things may change once a civilian government is back in power.
The political situation is not stable yet, which is not good to start btc business there. At the other hand, there are just a few of exchanges related btc there. Actually it's really stable at the moment. Doesn't get much more stable than this. |
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