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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread
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on: April 22, 2014, 08:32:52 PM
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What is coming is not like karmashares where you have to exchange your coins for points. Instead, you will be rewarded simply for holding your coins, similar to proof of stake but without the inflation of the coin supply. Every period we will pull a report of address balances from the block explorer, and payouts will happen in the form of PRT which will also add buy pressure similar to the multipool system, because we will buy the PRT on the open market to payout the dividends. Of course this also means you will want to withdraw your coins to your wallet before the reporting time, so that your balance is reflected, which will also remove liquidity and help support the price when we do our buys.
Greetings, Should there not be a database of "Active" participants? This would eliminate sending PRT to redundant addresses referenced in the blockchain... i.e. lost PRT, lost wallet.dat etc... This is a good point. Perhaps we can have a system where you register your receive address. Actually, this is a great idea. Maybe, send 1PRT to address xxxx to register. You now have a list of active addresses? |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MYR] Myriad - Multi Algo - SHA or Scrypt or Qubit or Skein or Groestl
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on: April 03, 2014, 05:45:18 PM
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It also isn't clear to me how a node calculates the best chain. If it is cumulative difficulty, without any normalisation, then what is to stop someone reversing a sequence of low difficulty blocks (e.g. Scrypt or Qubit ones, currently) by means of a single high difficulty block (SHA256D, currently)?
The SHA difficulty is independent from the other algos, so a high difficulty SHA block will not overwrite a low difficulty Scrypt block for example. Just in the last hour or so I've seen a chain of five non-SHA256D blocks (112715-112719) erased by a single SHA256D block (112715): [code edited out]How should this happen if they are truly independent? anyone want to give this a technical explanation.. maybe a simple explanation too  Dev is only one that can atm This is general block reorg (also known as a chain of orphans) it happens with a block time of 30 seconds. hell even with the 10 min block time of bitcoin it happens. In myriadcoin every algo has equal standing as each has an equal score. You can see in many POS/POW coins. POS orphans POW as POS has a higher score than its POW counterpart. Ahmed exactly! the coin is broken because a single SHA block can force a reorganization and orphan many blocks from other algos. This allows for easy double spending with minimal hashrate. Just mine SHA from the last SHA block ignoring blocks from other algos. When you mine your new SHA block, all the others will be orphaned. If there are enough to confirm a transaction (which is very likely), you can double spend. But it can be fixed using normalization. Scrypt is about 1024 times SHA. You'd have to calculate the relative weight for other algos. dev: you can contact me if you need help fixing this, I have experience with alt PoWs - I'm the developer of Riecoin (new primes PoW - currently cpu only) Someone mentioned a bounty for a technical study on 51% attacks. Is that real? where can I learn about this bounty? what do you need exactly? Besides fixing this "high diff algo reorganization attack", I have some ideas for preventing 51% attacks on a coin like this. regards, gatra Thanks for your offer. PM sent. There is a 15,500 MYR bounty for analysis. I can also put up another 15K MYR for your assistance. an idea to prevent panic: there's an easy workaround (until a new client is released): when waiting for confirmations, wait for X blocks with SHA (the one with highest difficulty by far) instead of just waiting for X blocks. So if you currently wait for 6 blocks, wait instead for 30 blocks and you should be safe ( 6 blocks * 5 algos = 30 blocks ). This would give you the same expected security in average. Gatra: It would be ecstatic to see RieCoin incorporated into MyriadCoin. We would get to those large primes quicker.... What do you think? |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MYR] Myriad - Multi Algo - SHA or Scrypt or Qubit or Skein or Groestl
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on: April 02, 2014, 12:47:20 PM
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With both SHA256 and SCRYPT asics mining, the network will be quite secure...
Why do multiple algos make it more secure? Isn't it basically as secure as the weakest link, i.e. the algo with (relatively) least mining power? Not really. One could crash and burn, while the other 4 maintained 80%. A 51% attack on a single algo is really only about an 11% attack on the coin itself. Somebody please correct me if I'm wrong, but that was my assumption. Mine too.. I also could be mistaken. Maybe some clarification is required.. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - New Initiatives - Helping People Do Good
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on: March 31, 2014, 06:16:20 PM
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Great.. would you like to help, or just keep talking about it? It's easy to type, but we need action If this is what it takes to get people more active in Karmacoin, then it can't be that bad If we spent as much time actually doing stuff as we have talked about it today, then we can really take Karmacoin places. I'm doing.. how about you? Just to let you know (so you do not ASSUME I am just a talker I have been "helping" (behind the scenes), you just have not seen the results yet. But you will. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - New Initiatives - Helping People Do Good
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on: March 31, 2014, 03:32:25 PM
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It was a tough decision and not everyone will agree. In fact, lots of people won't agree with the choice. They'll say bad karma is coming, and wonder what's happened to our core principles. All of that is to be expected because we are doing what we need to do.
its not the angry punters leaving that I am concerned about.. what concerns me is that by courting controversy you are asking some very powerful people to attack the Karmacoin network directly. we aren't talking about verbal attacks here... in case you hadn't noticed there is a Cyber cold war going on at the moment. Coins that do not meet a certain standard of legitimacy first get ddossed to death and then if that doesn't work they get forked to death. having been with KarmaCoin from almost the beginning I have noticed the distinct lack of attacks against the KarmaCoin network. this I put down to the fact that Karma does have some kind of legitimacy/neutrality and so for the most part it has been left alone... but once that legitimacy is lost in the eyes of some powerful people, then it becomes open season on KarmaCoin. believe me.. if people who don't like it can destabilize the network then they will... and if they do destabilize the network then it will do far more damage than ANY negative publicity. if you are prepared to take on the challenge of staying awake nights on end patching code to try and defend the network from attacks then by all means go right ahead open pandoras box. if not then.... take heed of some wise words and try not to throw stones from the front porch of your glass house. Understood. And I would mostly tend to agree. But there are a lot of "ifs" right now, however. If you or anyone else can think of a better alternative (under the conditions) please feel free to post it here. If you could also post your reasoning as to why you think it could help us to 1) move the market UP; and 2) help us to increase our public profile, it would certainly help. It is interesting to say "let's do a campaign to help a homeless family" and, while that is another noble cause, it is not going to save Karmacoin, as unfortunate as it may be. We do not have time to kill, nor the numbers to raise even $100 or $200 This campaign simply buys us an audience of people who can have a chance to hear our story once the noise diminishes. It is a cost-effective way of getting to the point where we can do a drive like Dogecoin and say we raised $40,000 for something. Priorities 1) move the market UP The only way to move the market up is to create a demand for buying KarmaCoin. You will accomplish this by successfully completing priority (2) 2) help us to increase our public profile To do this you will have to harness the emotions of individuals and small groups similar but not exclusive to the Girl Scouts. How many people do you think they will tell? Answer: Everyone they know! Do this a few times and you will have organic growth. $32 may not see like much but I can assure you that the Girl Scouts appreciated that gesture. Thousands of people around the world work for a whole month and not even earn $32. It would be extremely advantageous to find some way for the average person to buy KarmaCoin with fiat currency. Also contacting genuine charities and helping them to set up a KarmaCoin wallet so that anyone holding Karmacoin can send them directly. I would clearly and openly admit that I do not have the perfect answer but would strongly suggest not to include world leaders or any high profile person (unless of course they would be willing to raise the profile of Karmacoin voluntarily), in an effort to gain the attention of the media and general public. This is my last comment on this matter. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - New Initiatives - Helping People Do Good
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on: March 31, 2014, 02:48:49 PM
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It was a tough decision and not everyone will agree. In fact, lots of people won't agree with the choice. They'll say bad karma is coming, and wonder what's happened to our core principles. All of that is to be expected because we are doing what we need to do.
its not the angry punters leaving that I am concerned about.. what concerns me is that by courting controversy you are asking some very powerful people to attack the Karmacoin network directly. we aren't talking about verbal attacks here... in case you hadn't noticed there is a Cyber cold war going on at the moment. Coins that do not meet a certain standard of legitimacy first get ddossed to death and then if that doesn't work they get forked to death. having been with KarmaCoin from almost the beginning I have noticed the distinct lack of attacks against the KarmaCoin network. this I put down to the fact that Karma does have some kind of legitimacy/neutrality and so for the most part it has been left alone... but once that legitimacy is lost in the eyes of some powerful people, then it becomes open season on KarmaCoin. believe me.. if people who don't like it can destabilize the network then they will... and if they do destabilize the network then it will do far more damage than ANY negative publicity. if you are prepared to take on the challenge of staying awake nights on end patching code to try and defend the network from attacks then by all means go right ahead open pandoras box. if not then.... take heed of some wise words and try not to throw stones from the front porch of your glass house. +1 Build the tower from the ground up. You cannot build the tower from the sky down  |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KARM] Karmacoin - New Initiatives - Helping People Do Good
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on: March 31, 2014, 09:37:59 AM
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This is it, folks.The Fundraiser for Vladimir Putin's Anger Management Class Let's make this happen!
We're looking for 1,000,000,000 Karma or more!
We will announce the result in the media on Tuesday, April 1 or Wednesday, April 2.
Now is our chance for the entire world to learn about Karmacoin and how awesome we are. We can do this!
Donate to: KLHL2wuLEYSmGeEMvWEVr1ck7ehoN9raQt
Karmafund.me As an April fool joke right? It's a serious fundraiser for a serious cause, with a light-hearted approach. I'm sure people would see the humor in it, too 100% of funds raised will be sent to the Partnership for Every Child foundation in Urkaine. Karmacoin is TOO young to be diluting the core message. I would suggest saving the "light-hearted" humorous fundraising for when karmacoin has established itself as a "serious" contender for helping those less fortunate than Vladimir Putin. There are too many people on this planet that require more help than Vladimir Putin would ever need... Serious thought and contemplation is required before going ahead with this project.... EDIT: 100% of funds raised will be sent to the Partnership for Every Child foundation in Urkaine. Why not just concentrate on this instead? |
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