[ANN][STEEM][POW] - NO IPO | NO PREMINE | NO INSTAMINE (relaunch)

[copychicken]

Does this speed have any chance of finding a block? or its a waste of time?

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[penambang]

Does this speed have any chance of finding a block? or its a waste of time?

With my hashrate below, I still got some block, but take long time to enter the queue

[abitmore]

The incentive to hold VESTS will fall dramatically over the next few weeks as the rate of change in the supply of STEEM falls.

Do you mean the incentive to hold VESTS or the incentive to create new VESTS from STEEM?

Bump

Maybe both?

In short, current conversion ratio is about 27:1, and the ratio is increasing by about 2:1 4:1 2.6:1 everyday. So the % speed of ratio increasing is decreasing, thus less incentives to convert STEEMs to VESTS.


Analysis:

Conversion ratio = STEEM : VESTS = TOTAL_VESTING_FUND_STEEM : TOTAL_VESTS

Every block, when the miner/witness got 1 STEEM as reward, 2 STEEMs are added to TOTAL_REWARD_FUND_STEEM, and 27 STEEM are added to TOTAL_VESTING_FUND_STEEM

Because block interval is almost constant, everyday ~28800 blocks are produced, so 28800 new STEEMs to miners and ~778k STEEMs to TOTAL_VESTING_FUND_STEEM. The ratio keeps increasing due to TOTAL_VESTING_FUND_STEEM keeps increasing.

* the speed of ratio increasing is linear if nobody deposit to VESTS or withdraw from VESTS. With current ~405K total VESTS, the ratio will increase by 778K:405K ~= 1.92 : 1 everyday.

* if every miner convert new STEEMs to VESTS, TOTAL_VESTING_FUND_STEEM will increase by STEEMs, TOTAL_VESTS will increase by (STEEMs / ratio), it's ~1066 VESTS with current rate, the speed of ratio increasing will be a little lower (about 0.005 : 1 with current supply).

* if every VESTS holders started converting VESTS to STEEMs, on average everyday 1 / (7 * 52 * 2) of VESTS will be converted, with current 405K supply, it's ~556 VESTS, so the speed of ratio increasing will be a little higher (about 0.003 : 1 with current supply).


//Update:
Due to POW reward, the daily inflation should be doubled, so 28800*2 to miners and about 4:1 of daily ratio increasing.

//Update2:
POW reward doesn't add to TOTAL_REWARD_FUND_STEEM at same time, so still 28800 * 2 to miners, but only 28800 * (2 + 2) * 9 to VESTS, so 1.15M of total daily inflation, about 2.6:1 of daily ratio increasing.

[NextGenCrypto]

Anyone know how to fix this error when opening cli_wallet?

Logging RPC to file: logs/rpc/rpc.log
11 eof_exception: End Of File
unexpected end of file
   {}
   th_a  json.cpp:430 variant_from_stream

[STEEMD]

Anyone know how to fix this error when opening cli_wallet?

Logging RPC to file: logs/rpc/rpc.log
11 eof_exception: End Of File
unexpected end of file
   {}
   th_a  json.cpp:430 variant_from_stream

try remove the logs folder, and check your config.ini last lines

[thereverseflash]

is it ok to use the same WIF key for few mining accounts?
and to use the same accountname in --witness and --miner ?

1. only use --witness on one machine or you will double produce blocks and lose your account
2. you can use the same key so long as you mine on the same computer in the same process

By "lose" and account, does that mean you lose the ability to mine with it or the balance too?

How can you know which accounts are "lost"?

By "double producing" the nodes are making forks.

I wonder how the account will get "lost" as well..

In order to ban an account, nodes (at least block producers) on the major (longest) chain need to know things happened on a minor chain (at least who was forking), then refuses any transaction signed by that account. If this is the case, the "bad one" will lose everything, STEEMS, VESTS, account name etc. I don't know how to automate this right now, since forking can be caused by accident, IMO it's hard to identify automatically & accurately. On the other hand, it could be easier to be identified manually, although still need some efforts. Then comes another question: how to convince the producers to ban an account. In the mining phrase, if enough hashing power is making forks, it will be troublesome. In the voting phrase, the major VESTS holders (atm it's steemit) decide the block produces, so it's possible for them to do anything. Just thinking out loud..

Code:

   /**
    * This operation is used to report a miner who signs two blocks
    * at the same time. To be valid, the violation must be reported within
    * STEEMIT_MAX_WITNESSES blocks of the head block (1 round) and the
    * producer must be in the ACTIVE witness set.
    *
    * Users not in the ACTIVE witness set should not have to worry about their
    * key getting compromised and being used to produced multiple blocks so
    * the attacker can report it and steel their vesting steem.
    *
    * The result of the operation is to transfer the full VESTING STEEM balance
    * of the block producer to the reporter.
    */
   struct report_over_production_operation : public base_operation {
      string              reporter;
      signed_block_header first_block;
      signed_block_header second_block;

      void validate()const;
   };

[copychicken]

Does this speed have any chance of finding a block? or its a waste of time?

With my hashrate below, I still got some block, but take long time to enter the queue

what are the numbers for normal queue???

[thereverseflash]

Does this speed have any chance of finding a block? or its a waste of time?

With my hashrate below, I still got some block, but take long time to enter the queue

what are the numbers for normal queue???

99 - 106 is common recently.    105 at the time of this posting.

[copychicken]

i am at 103-104 for a day.. but still nothing... :/ maybe its impossible for a single pc to solve a block anymore.

[drays]

   * Users not in the ACTIVE witness set should not have to worry about their
    * key getting compromised and being used to produced multiple blocks so
    * the attacker can report it and steel their vesting steem.
    *
    * The result of the operation is to transfer the full VESTING STEEM balance
    * of the block producer to the reporter.

Does it mean the users who ARE in the active witness set, should worry about their key getting compromised and being used to double-produce blocks, so all their VESTING STEEM balance could be transferred to the malicious reporter? I mean is such kind of attack still possible?

[thereverseflash]

   * Users not in the ACTIVE witness set should not have to worry about their
    * key getting compromised and being used to produced multiple blocks so
    * the attacker can report it and steel their vesting steem.
    *
    * The result of the operation is to transfer the full VESTING STEEM balance
    * of the block producer to the reporter.

Does it mean it is theoretically possible for the users who ARE in the active witness set, should worry about their key getting compromised and being used to double-produce blocks, so all their VESTING STEEM balance could be transferred to the malicious reporter? I mean is such kind of attack still possible?

You should guard your block producing keys like your balance keys. It is no different than someone having their bitcoin wallet key compromised and allowing the attacker to drain your account.

This is how we prevent the nothing-at-stake attack and the "produce on multiple forks" attack.   

[abitmore]

   * Users not in the ACTIVE witness set should not have to worry about their
    * key getting compromised and being used to produced multiple blocks so
    * the attacker can report it and steel their vesting steem.
    *
    * The result of the operation is to transfer the full VESTING STEEM balance
    * of the block producer to the reporter.

Does it mean it is theoretically possible for the users who ARE in the active witness set, should worry about their key getting compromised and being used to double-produce blocks, so all their VESTING STEEM balance could be transferred to the malicious reporter? I mean is such kind of attack still possible?

You should guard your block producing keys like your balance keys. It is no different than someone having their bitcoin wallet key compromised and allowing the attacker to drain your account.

This is how we prevent the nothing-at-stake attack and the "produce on multiple forks" attack.   

Conclusion: don't try to setup/run a backup node with same signing key. Witness is a high risk job

[abitmore]

I'm really sorry for shutdown the network..

[STEEMD]

looks like the blockchain is fucked ? im not receiving blocks on 2 different systems !

[STEEMD]

I'm really sorry for shutdown the network..

what did you do ?

[drays]

I'm really sorry for shutdown the network..

Don't play with matches..!  
So what? Show is over?  

[STEEMD]

I'm really sorry for shutdown the network..

Don't play with matches..!  
So what? Show is over?  

stop editing your post lol 

[steem]

I'm really sorry for shutdown the network..

Don't play with matches..!  
So what? Show is over?  

 .. working on it ........

anyone with any ideas .. please join us in steem.slack.com   @abitmore

[kahir]

STEEMD  when can we get windows gui wallet ? anywhere soon ?

[copychicken]

i think i found a block... and after that... nothing... it stuck there... restarted and thats what its showing.