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Author Topic: FeatherCoin just hit 500MH/s on Network!  (Read 2096 times)
blastbob
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April 21, 2013, 09:37:28 PM
 #1

You can check out stats live at http://fc.dontmine.me/

Or just watch the screenshot Smiley




Cake anyone?

Psst.. Got Ether?
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live627
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April 21, 2013, 09:49:36 PM
 #2

The cake is a lie.
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April 21, 2013, 09:56:22 PM
 #3

The cake is a lie.



Confirmation.

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April 21, 2013, 09:58:10 PM
 #4

51% attack!

LTC: LiRUsS1MMFnxMAX4gev5LDfvtxJkQRMoqw FC: 6hXXWqFnQYxooXJbpXAdfY6wUzw6RPLz9J
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April 21, 2013, 10:22:21 PM
 #5

51% attack!

funny  Grin

nesic1
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April 21, 2013, 10:22:58 PM
 #6

what this 51% attack means?

[I want to buy]
q2c qubitcoin, pxc Phoenixcoin, LiteBar (LTB), bbq bqc, kdc klondikecoin
Gazylion
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April 21, 2013, 10:28:13 PM
 #7

what this 51% attack means?

If someone has over 50% hashing power of the network, he can pretty much destroy it.

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April 21, 2013, 10:35:19 PM
 #8

https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power

My understanding is that with more that 50% hashing power basically you can decide what blocks are accepted and what blocks aren't.

Amongst the nasty things this pool can now do, as a solo miner I am concerned about them rejecting my blocks, or ensuring that in a fork situation my blocks will be orphaned instead of theirs.

LTC: LiRUsS1MMFnxMAX4gev5LDfvtxJkQRMoqw FC: 6hXXWqFnQYxooXJbpXAdfY6wUzw6RPLz9J
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April 21, 2013, 10:39:25 PM
 #9

https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power

My understanding is that with more that 50% hashing power basically you can decide what blocks are accepted and what blocks aren't.

Amongst the nasty things this pool can now do, as a solo miner I am concerned about them rejecting my blocks, or ensuring that in a fork situation my blocks will be orphaned instead of theirs.

They have closed registration, so other pools should gain more percentage of the network soon. Now they have 54% and its going down.

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April 21, 2013, 10:46:11 PM
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https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power

My understanding is that with more that 50% hashing power basically you can decide what blocks are accepted and what blocks aren't.

Amongst the nasty things this pool can now do, as a solo miner I am concerned about them rejecting my blocks, or ensuring that in a fork situation my blocks will be orphaned instead of theirs.

They have closed registration, so other pools should gain more percentage of the network soon. Now they have 54% and its going down.

Bravo. This pool has integrity.  Grin

LTC: LiRUsS1MMFnxMAX4gev5LDfvtxJkQRMoqw FC: 6hXXWqFnQYxooXJbpXAdfY6wUzw6RPLz9J
paul21
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April 21, 2013, 10:48:55 PM
 #11

It's not like 51% in a pool is that big of a deal, since the miners could just drop out if an attack happened, but I plan to keep registration closed until the pool is in the 30% range and close when it gets to 40%. It's better to have some distribution among pools to support the coin, especially in case of downtime, etc.

RIP my old pools... sometimes BTC isn't life ;(
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April 21, 2013, 10:58:21 PM
 #12

30? Why not 15?
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April 21, 2013, 11:04:46 PM
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It's not like 51% in a pool is that big of a deal, since the miners could just drop out if an attack happened, but I plan to keep registration closed until the pool is in the 30% range and close when it gets to 40%. It's better to have some distribution among pools to support the coin, especially in case of downtime, etc.
It's a pretty big deal. Most miners don't pay attention to what share of the network their pool belongs to. If an attacker managed to somehow gain access to the pool's servers and wait until the pool went over 51%, they could easily screw over the network.

paul21
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April 21, 2013, 11:29:12 PM
 #14

30? Why not 15?

I don't mind going to 15, especially if it means 6-7 pools with 15% each, but based on the current ecosystem with 3-4 total pools it's not that feasible.

It's not like 51% in a pool is that big of a deal, since the miners could just drop out if an attack happened, but I plan to keep registration closed until the pool is in the 30% range and close when it gets to 40%. It's better to have some distribution among pools to support the coin, especially in case of downtime, etc.
It's a pretty big deal. Most miners don't pay attention to what share of the network their pool belongs to. If an attacker managed to somehow gain access to the pool's servers and wait until the pool went over 51%, they could easily screw over the network.

I mean obviously it's not good to have a pool over 50%, but if your argument is that user ignorance is the root cause, I'm not sure how that can be corrected. It's definitely a security concern, but there's a difference between a pool attacking a network where miners have a corrective action to take and a malicious attacker who has uninterrupted control over >50% of the hashing power where the community collectively can do little to fight the attack other than buying or building more hashing power.

RIP my old pools... sometimes BTC isn't life ;(
blastbob
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April 22, 2013, 04:11:25 AM
 #15

Remember that alot of blocks was solo mined also

Net Hash: 843.55 MH/s woot!

Also diff has doubled now. Crazy.

Psst.. Got Ether?
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April 22, 2013, 04:13:37 AM
 #16

Remember that alot of blocks was solo mined also

Net Hash: 843.55 MH/s woot!

Also diff has doubled now. Crazy.

Wow.  I can't believe difficulty continues to skyrocket the way it is.  Certainly appears as though this is the next big coin.  Once it hits a major exchange, there's no telling where it will go. 

Charlie Kelly: I'm pleading the 5th.  The Attorney: I would advise you do that.  Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor?  The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
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April 22, 2013, 04:31:23 AM
 #17

Once it hits a major exchange, there's no telling where it will go. 
Once that happens the pumping phase is over and the dumping part begins. Dump all worthless coins to noobs. Profit!  Cheesy

js2082
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April 22, 2013, 06:39:48 AM
 #18

lol, all these useless coins come to market (to be fair, the bitcoin is the same). Isn't it easy to fork a project in Git and change some parameters and create a new coin? I bet more and more will come, it's easy to do. Nice cyber gold mining now..
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April 22, 2013, 09:37:12 AM
 #19

Once it hits a major exchange, there's no telling where it will go. 
Once that happens the pumping phase is over and the dumping part begins. Dump all worthless coins to noobs. Profit!  Cheesy

I'm very keen to see an exchange turn up, so I can buy all the coins. I have been making some purchases on the forum but I'm hoping an exchange will bring cheaper coins.

I am offering a 20,000FC bounty for an exchange that support FeatherCoin. An exchange will help support interest in the coin and its longevity.
Radacoin
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April 22, 2013, 10:59:18 AM
 #20

What's the difficulty at the moment?
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