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Author Topic: So since elacoin fell through??????  (Read 2196 times)
markm
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May 14, 2013, 04:30:15 PM
 #21

Powercoin is better.
Mine that instead?

preminecoin is just as bad if not worse.

At least Elacoin has a dynamic block reward so those who start late in the game will have a much better investment than the "early adopter pump and dump make the dev rich" coins that every other dev has put out.

As more hashrate is added to the network, the block reward increases.  The early adopters for Elacoin are only getting a small amount of coins.

That is total bullshit, there are three to five blocks per second, maybe more, so they are getting massive number of coins because of the insane number of blocks. At least 180 coins per minute, maybe 300 coins per minute, no one will get that later until difficulty is 180 to 300 if number of coins is equal to the difficulty. (Which it seemingly is not else at difficulty zero it would have been zero coins and at difficulties less than one, less than one coin?)

So it is total pre-mine / instamine scam by someone who didn't wait for the author to get the proper difficulty code in place and a new genesis block in place for that proper starting difficulty (or code adjusted to not check difficulty of genesis block).

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bitbitcoincoin
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May 14, 2013, 04:35:27 PM
 #22

Powercoin is better.
Mine that instead?

preminecoin is just as bad if not worse.

At least Elacoin has a dynamic block reward so those who start late in the game will have a much better investment than the "early adopter pump and dump make the dev rich" coins that every other dev has put out.

As more hashrate is added to the network, the block reward increases.  The early adopters for Elacoin are only getting a small amount of coins.

That is total bullshit, there are three to five blocks per second, maybe more, so they are getting massive number of coins because of the insane number of blocks. At least 180 coins per minute, maybe 300 coins per minute, no one will get that later until difficulty is 180 to 300 if number of coins is equal to the difficulty. (Which it seemingly is not else at difficulty zero it would have been zero coins and at difficulties less than one, less than one coin?)

So it is total pre-mine / instamine scam by someone who didn't wait for the author to get the proper difficulty code in place and a new genesis block in place for that proper starting difficulty (or code adjusted to not check difficulty of genesis block).

-MarkM-


Someone just posted it's only on block 6000, after being released for 7+ hours.   If they are using the 1300 premined genesis block like you claim then at most 1300 coins were premined or "instamined" before it went out in the wild.   The other 4700 would of been divided up by those mining during those first 7+ hours.

By far the least amount of "Premine" and early adopter riches compared to any other alt coin right?
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May 14, 2013, 04:39:46 PM
 #23

Powercoin is better.
Mine that instead?

preminecoin is just as bad if not worse.

At least Elacoin has a dynamic block reward so those who start late in the game will have a much better investment than the "early adopter pump and dump make the dev rich" coins that every other dev has put out.

As more hashrate is added to the network, the block reward increases.  The early adopters for Elacoin are only getting a small amount of coins.

That is total bullshit, there are three to five blocks per second, maybe more, so they are getting massive number of coins because of the insane number of blocks. At least 180 coins per minute, maybe 300 coins per minute, no one will get that later until difficulty is 180 to 300 if number of coins is equal to the difficulty. (Which it seemingly is not else at difficulty zero it would have been zero coins and at difficulties less than one, less than one coin?)

So it is total pre-mine / instamine scam by someone who didn't wait for the author to get the proper difficulty code in place and a new genesis block in place for that proper starting difficulty (or code adjusted to not check difficulty of genesis block).

-MarkM-


Someone just posted it's only on block 6000, after being released for 7+ hours.   If they are using the 1300 premined genesis block like you claim then at most 1300 coins were premined or "instamined" before it went out in the wild.   The other 4700 would of been divided up by those mining during those first 7+ hours.

By far the least amount of "Premine" and early adopter riches compared to any other alt coin right?

When it launches for real with difficulty ten or more it will hopefully be high enough difficultly to hit its target time between blocks, or maybe even longer between blocks, right out the gate, and maybe really take off well due to actually being a proper launch not just another instamining scame.

Give the guy time, he might be mining the genesis block instead of just coding to not check the difficulty of the genesis block.

-MarkM-



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e521
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May 14, 2013, 04:51:15 PM
 #24

He already launched form real.

markm
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May 14, 2013, 04:56:11 PM
 #25

He already launched form real.

He decided to just do another scam instead of fixing the initial difficulty as he said he would?

Well if you are right what the fuck I guess people will keep getting scammed until they wake up, too bad though he bullshit lies (as you seem to be implying) about doing it right did sound good.

Maybe someone will do a real one on of these years.

Or actually maybe a real one is neither wanted nor needed since we already had more coins thatn we could actually maintain/support even before this flood of scams came along.

-MarkM-

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May 14, 2013, 06:34:56 PM
 #26

He already launched form real.

He decided to just do another scam instead of fixing the initial difficulty as he said he would?

Not only that, Milkshake added two checkpoints in the hours after launch to manipulate the blockchain and make the "official" blockchain not be the one that actually had majority hashpower.  Thus, more than half the mining hashpower forked onto separate chains on two different occasions while the "official" blockchain was replaced with one of Milkshake's liking.
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May 14, 2013, 06:35:41 PM
 #27

He already launched form real.

He decided to just do another scam instead of fixing the initial difficulty as he said he would?

Not only that, Milkshake added two checkpoints in the hours after launch to manipulate the blockchain and make the "official" blockchain not be the one that actually had majority hashpower.  Thus, more than half the mining hashpower forked onto separate chains on two different occasions while the "official" blockchain was replaced with one of Milkshake's liking.
That scenario is exactly what I exposed on page 22 of the original thread.

markm
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May 14, 2013, 06:50:26 PM
 #28

Okay so its a scam from the start then, original poster was just samming no intent to try to make something fair afterall.

Well so far Tenebrix and Fairbrix still seem to be mine-able with CPUs so we still have plenty of fairness left in the cryptocoin world, at least until GPUs start jumping on those too.

Also the merged mined SHA256 coins GRouPcoin, CoiLedCoin, I0Coin and GeistGeld all still have very low difficulty so even with just one GPU a person can rake in all four of those at once quite nicely still.

-MarkM-

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May 14, 2013, 06:52:56 PM
 #29

Not only that, Milkshake added two checkpoints in the hours after launch to manipulate the blockchain and make the "official" blockchain not be the one that actually had majority hashpower.  Thus, more than half the mining hashpower forked onto separate chains on two different occasions while the "official" blockchain was replaced with one of Milkshake's liking.
So some people saw their confirmed balance disappear?
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May 14, 2013, 07:05:25 PM
 #30

Not only that, Milkshake added two checkpoints in the hours after launch to manipulate the blockchain and make the "official" blockchain not be the one that actually had majority hashpower.  Thus, more than half the mining hashpower forked onto separate chains on two different occasions while the "official" blockchain was replaced with one of Milkshake's liking.
So some people saw their confirmed balance disappear?

Absolutely.  I watched all my mined blocks below block 2500 (some with >2200 confirmations) orphan after I switched to the updated git client containing Milkshake's checkpoint at 2500 blocks.
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May 14, 2013, 07:10:06 PM
 #31

Wow, that's the most shady coin ever then.
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May 14, 2013, 07:15:21 PM
 #32

Mark you missed all the fun.

After Hazard offere to compile a pre-release binary, he shit himself when he (supposedly) saw someone mining a 1300 block chain.

The screens he posted show 0 connections, whether hazard mined them or not is up for question.

What Hazard did then proceed to do was release the launch code a few hours before launch, which he had gotten by claiming he would help the OP to compile a windows binary for the release.

This is all around pages 20 - 24 of the orig thread hazard is quite proud of it.

After Hazard kicked out the release code, at least one other person started mining it publicly, his chain was at 600+ blocks when Milkshake showed up.

In the meantime, Hazard started his hazardcoin thread, and started talking mad trash about milkshake.

So anyways, Milkshake says he changed the checksum or whatever and started on a new genesis block.  When he hit the block he pushed to git and immediately announced the release.  It seemed more clumsy than malicious, but in the midst of the drama, he rushed it out.

Within a few minutes of launch a couple of forum members "helped out" by posting elacoind binaries.

The first person to distribute a running binary package (dlls and all) for windows was powerf1st (hope i got that right). There was for sure 1, and maybe 2, compiled elacoind floating around with no DLLs before that.

So someone started a thread about that package and we start encouraging new people to use it, and I went to bed. I'd have to go browse the thread but it may not have been milkshake who added checkpoints to the binary...

Basically Hazard totally fucked the OP and the launch, and keeps trying to act like a hero about it. And he keeps trying to get some feels for hazardcoin so he can say "people wanted it" when he releases it.

When the OP woke up, or showed up, or whatever he scrambled to try and save the launch and wound up making things worse.

Also let's talk about this:  Hazard claims he couldn't have POSSIBLY mined 1300 blocks because of the 2.5 second HARD LIMIT on new blocks. what block chain has ever refused new blocks for 2.5 seconds? This guy is pathetic. absolutely untrustworthy, a scammer and a liar. Considering his behavior before and after, it doesn't matter if he did the mining or not.  He offered to help and then completely sabotaged the release.

A lot of people seem to think this coin reward is based on hash power. Block reward should move to 2 coins per block when diff hits 24.  This is going to take a couple of days even if the network keeps growing.  If people like the adjustment of the coin, there's plenty of time for this to get straightened out.  

I just got up is hazardcoin launched yet?

There will have to be an elacoin block explorer before we can sort out if someone snuck in one of the premined chains  by floating a "bad" windows binary.

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May 14, 2013, 07:16:02 PM
 #33

Maybe a lot of these scamcoins are being created by people who are quietly merged-mining all the SHA256 merged mine-able coins and just want to distract people from those to keep their difficulty low. If they make a few bucks on the scams too that is gravy of course but meanwhile they are raking in all the coins that might actually be able to be reasonably secured at really really low cost in electricity - zero electricity even since just the bitcoins part of the merge pays the electric and more...

-MarkM-

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May 14, 2013, 07:25:25 PM
 #34

Hmm, to me HazardCoin comes across as an obvious joke, why are all these Juniors taking it seriously?  Elacoin is a joke at this point too, it's no better RoyalCoin, PowerCoin, etc etc. You could argue it's worse because the launch was totally botched, and that's not Hazard's fault. The author could have delayed the launch, polished it up and got a working Windows binary up. Instead he decided to launch another scamcoin and is probably doing other shady stuff as well judging from the checkpoints he added in the code.
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May 14, 2013, 08:04:36 PM
 #35

Hazard coin was an obvious joke, for a minute.  Then came the announcement thread and him saying "it seems like poeple want it, maybe  i should make it..."

No real developer community would welcome him after that shit (the pre-release of code that someone trusted him with).

Thinking that Milkshake is an idiot doesn't make it "cool" to  be an asshole.  This is a pretty nasty community, really. Name calling and finger pointing and whatnot.  But that's really sinking below the common sludge.

To try and make himself look like a hero for it is even worse.


The launch was totally botched, and that was hazard's fault.

It may or may not have been screwed up without hazard. But since he did it, we'll never know.

Perhaps if he hadn't "offered to help out" a real person could have helped the OP get things in proper order. Not only did he block any chance of a success, he made additional moves (dumpingg the source and accusing about premine) to make sure it would fail.

Why would you defend that?
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May 14, 2013, 08:08:25 PM
 #36

Hazard released FeatherCoin2 instead of HazardCoin.  Big success so far network hash rate is over 25 mh/s.

Plenty of time left to mine FC2 difficult is very low:

{
"blocks" : 9859,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.01562500,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 26843545,
"pooledtx" : 0,
"testnet" : false
}
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May 14, 2013, 08:14:30 PM
 #37

Wait, so after all his trash talking and name calling, he released an alt of an alt?


BWAH HA HA HA HA HA HA omg...
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May 14, 2013, 08:19:29 PM
 #38

FC2 has no source code, i wouldnt go near it with a ten foot pole

some wallets are going to dip out soon
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