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blastbob (OP)
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April 21, 2013, 09:37:28 PM |
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You can check out stats live at http://fc.dontmine.me/Or just watch the screenshot   Cake anyone? |
Bitrated user: blastbob.
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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live627
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April 21, 2013, 09:49:36 PM |
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The cake is a lie.
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Gazylion
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April 21, 2013, 09:56:22 PM |
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The cake is a lie.
 Confirmation. |
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BTCSylar
Newbie
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Activity: 43
Merit: 0
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April 21, 2013, 09:58:10 PM |
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51% attack!
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Gazylion
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April 21, 2013, 10:22:21 PM |
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51% attack!
funny  |
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nesic1
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April 21, 2013, 10:22:58 PM |
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what this 51% attack means?
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Gazylion
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April 21, 2013, 10:28:13 PM |
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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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BTCSylar
Newbie
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Activity: 43
Merit: 0
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April 21, 2013, 10:35:19 PM |
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https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_powerMy 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.
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Gazylion
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April 21, 2013, 10:39:25 PM |
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https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_powerMy 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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BTCSylar
Newbie
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Activity: 43
Merit: 0
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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_powerMy 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. |
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paul21
Member
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Activity: 70
Merit: 10
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April 21, 2013, 10:48:55 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.
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RIP my old pools... sometimes BTC isn't life ;(
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live627
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April 21, 2013, 10:58:21 PM |
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30? Why not 15?
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Beremat
Full Member
Offline
Activity: 263
Merit: 100
YGOLD is a Defi platform
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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. |
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paul21
Member
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Activity: 70
Merit: 10
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April 21, 2013, 11:29:12 PM |
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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 ;(
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blastbob (OP)
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April 22, 2013, 04:11:25 AM |
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Remember that alot of blocks was solo mined also
Net Hash: 843.55 MH/s woot!
Also diff has doubled now. Crazy.
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Bitrated user: blastbob.
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Nolo
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April 22, 2013, 04:13:37 AM |
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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.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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Buffer Overflow
Legendary
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Activity: 1652
Merit: 1015
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April 22, 2013, 04:31:23 AM |
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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!  |
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js2082
Member
Offline
Activity: 70
Merit: 10
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April 22, 2013, 06:39:48 AM |
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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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bushstar
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April 22, 2013, 09:37:12 AM |
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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! 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. |
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Radacoin
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April 22, 2013, 10:59:18 AM |
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What's the difficulty at the moment?
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