[ANN][YAC] YACoin ongoing development

[alenevaa]

Does anyone know why my minted coins are not confirming? They arrive, get to one confirmation, then get rejected...This has happened quite a few times. What should I do?

When you see blocks on this page as green (confirmed) and not orphaned you'll be successfully minting!

[1714854905]

1714854905

[1714854905]

1714854905

[old c coder]

Hi folks,

Does anyone know why my minted coins are not confirming? They arrive, get to one confirmation, then get rejected...This has happened quite a few times. What should I do?

Cheers,

Roister

Hello Roister,

See https://bitcointalk.org/index.php?topic=206577.msg11774665#msg11774665 from July of this year.  And follow the discussion forward to now.

Ron

[Roister01]

Thanks for the replies. I have read the previous discussion, and am now convinced I live in a different world than you clever folk, haven't a clue what most of it means! I take it though, that the few thousand YAC that are arriving, are never going to be confirmed?

Am I right in thinking that there are around 70 million YAC at the moment? Even if I owned them all, would I not get any POS, because someone else does the mining?

Cheers,

Roister

[alenevaa]

Am I right in thinking that there are around 70 million YAC at the moment? Even if I owned them all, would I not get any POS, because someone else does the mining?

You are right! Someone else (we're calling him 'Malicious Miner') has enough computational power, there is no YACoin authority to stop him from doing so.
That is called '51% Attack'

[Roister01]

Bad news! Does this mean that someone is actually mining at a financial loss, just for the sake of being unkind, and trying to ruin the coin?

I am sorry that I haven't got a clue how to mine myself - Is there a (very) simple way of showing me how to mine on my laptop, or would it be no use anyway?

Cheers,

Roister

[Beave162]

Am I right in thinking that there are around 70 million YAC at the moment? Even if I owned them all, would I not get any POS, because someone else does the mining?

You are right! Someone else (we're calling him 'Malicious Miner') has enough computational power, there is no YACoin authority to stop him from doing so.
That is called '51% Attack'

That is not exactly right. I am still not sure how the PoS/PoW system gives weight or priority to PoW over PoS, and within PoS, what gives one input of coins priority over another. As senj has stated, PoS inputs with larger coins do not equate to larger 'trust' to be accepted on the chain. With that said, I can tell you I am getting a ton of stake inputs not accepted, just as you are, but every day or so, I get a string of 2-4 accepts, so it is working even in this 'hostile' environment... somehow. Also, I am mining (for a loss of course) with CPUs, so the network isn't COMPLETELY dominated.

There is a problem when this process isn't easily understood, transparent. I'm not going to comment on my intelligence, but I am telling you, if I don't get it at this point, it does not bode well for the cause of widespread acceptance! Once the network is out of the chaos it is currently in, people are going to want to know in simple terms when they can expect to earn their PoS reward and be assured/confident of it.

By the way, alevaa, please lower that 2% fee to 1%. Raise it to 2% later if you want, but holy smokes, why tax miners at a rate more than other scrypt-chacha coins at a time when miners are so desperately needed--which is an understatement.


Encouragement is never a bad thing! I sincerely believe we have the smartest people in all of crypto working on these issues now. I will again echo my support for Ron's point about the code being obscure. I think it is extremely valuable to NOT have code that is obscure to most of the best computer programmers. Take that for what it is worth coming from someone who is definitely not savvy with any computing language. Perhaps there is some underlying, self-preservation thoughts behind it? If no one can understand the code, it makes it harder for an outsider to be considered 'better'? I don't know. Whatever the reason, it does not advance the cause. And we need to move in the direction of widespread support, adoption and less toward an exclusive cult. It is a tendency in the entire realm of crypto. YAC needs to rise above that. Just some rambling thoughts...

[Beave162]

Bad news! Does this mean that someone is actually mining at a financial loss, just for the sake of being unkind, and trying to ruin the coin?

I am sorry that I haven't got a clue how to mine myself - Is there a (very) simple way of showing me how to mine on my laptop, or would it be no use anyway?

Cheers,

Roister

It depends on what the heck is doing this malicious mining. If he has free electricity or if it is a botnet, I suppose he will never mine and a loss. However, there are a ton of coins out there, and there are other 'cpu-friendly' coins, so there might be a point (even with him obtaining every single YAC mineable) where he is mining at an 'opportunity loss' for the sake of suppressing the price of YAC? It would be quite an interesting strategy. I guess he would be banking on YAC losing support from the 'community' and from the exchanges in order for it payoff to benefit a competing coin he is invested in? Also, if we are assuming that the YAC mined is dumped instead of saved for staking, then it would be interesting to see what would happen if people would just lower their buy orders and let the price fall. If he is wasting all of those resources for let's say at most $10 worth of YAC per day, it would surely be a losing strategy...

[alenevaa]

Bad news! Does this mean that someone is actually mining at a financial loss, just for the sake of being unkind, and trying to ruin the coin?

Actually MM gets ALL the profit (around 100K YACs) every day.
He is like a vine that strangles the tree.

[alenevaa]

I am sorry that I haven't got a clue how to mine myself - Is there a (very) simple way of showing me how to mine on my laptop, or would it be no use anyway?

It will be no use in terms of profit for you right now but it helps to stand against MM.

But if you decide to mine now or in future (when new version of YACoin will be released) here is ->

-> The easiest way to mine:

 - use CPU miner (you can get it here)

 - select x64 version if you have Windows 64-bit

 - use 'minerd-x64-avx2.exe' if you have modern CPU

 - Register your account on the pool with 'your username'

 - Confirm it with the link from your confirmation email

 - Add new worker in 'My Account' - 'My Workers'

Then you can run .exe from the command line or create .bat file:

Code:

minerd-x64-avx2.exe -a scrypt-chacha -o stratum+tcp://yacoin.club:3433 -O YourUserName.WorkerName:WorkerPassword

[Beave162]

Bad news! Does this mean that someone is actually mining at a financial loss, just for the sake of being unkind, and trying to ruin the coin?

Actually MM gets ALL the profit (around 100K YACs) every day.
He is like a vine that strangles the tree.

144K YAC per day max (~100 YAC/block * 60 blocks/hour * 24 hours/day). At current prices, that is $46 worth of YAC per day. So let the price fall! However, there ARE PoS stake blocks occurring (explore.grokonet.com), but they are very infrequent, and we don't know who is getting those. 

[Roister01]

Hi folks,

Thanks to a lot of support from alenevaa, I have managed to start mining yacoin! I noticed that the first lot mined have now been confirmed. Also, my minting stake has been confirmed after about 20 attempts...It has over 600 confirmations - will this now be safe?

Also, on the YACoin pool statistics page, there were around 20 green confirmed validity, amongst the red orphaned...does this mean things are getting better, or is this normal?

Cheers,

Roister

[alenevaa]

Hi folks,

Thanks to a lot of support from alenevaa, I have managed to start mining yacoin! I noticed that the first lot mined have now been confirmed.

You are welcome!

Also, my minting stake has been confirmed after about 20 attempts...It has over 600 confirmations - will this now be safe?

If those coins were minted in blocks from 1244927 to 1245075 (which were confirmed on the pool), they will be safe.

Also, on the YACoin pool statistics page, there were around 20 green confirmed validity, amongst the red orphaned...does this mean things are getting better, or is this normal?

That 20 green blocks will be safe too. This is normal. 'MM' switches to other tasks from time to time..

Ok, Roister, please fill your 'Payment Address' in 'My Account' - 'Edit Account'

Payout script will be run today. Edit: Payments have been sent!

[Roister01]

Hi there,

I have tried to edit my account, but it won't accept my pin, and keeps locking me out. I have reset my pin 3 times, but it won't accept the pin it generates for me?

Also, my miner has been running all morning, but nothing has happened, and it says I have no active miners..it may sound silly, but do I have to open that bat file i generated each time I go back on computer, or does it just know to start it when I open the pool up?

Cheers,

Roister

[Roister01]

Forget that...I realized that my password was automatically going in the pin section...that's why it kept throwing me out! Sorted now...

[alenevaa]

Also, my miner has been running all morning, but nothing has happened, and it says I have no active miners..it may sound silly, but do I have to open that bat file i generated each time I go back on computer, or does it just know to start it when I open the pool up?

You have to run .bat file every time you start computer/windows.
Or you can place shortcut on the .bat file in the Startup folder..

Also you don't need to open pool web-page for mining. All you need is running process minerd-x64-avx2.exe

[Roister01]

Thanks Alenevaa,

Just noticed a payment that went into my yac account - it didn't get confirmed though...

Could I just ask, the pool hashrate, i assume is the computer power used within this pool?

If so, what is the net hashrate?

Also, what sort of hashrate would the MM have, do we know?

Cheers,

Roister

[alenevaa]

Thanks Alenevaa,

Just noticed a payment that went into my yac account - it didn't get confirmed though...

the transaction in your wallet will be confirmed after 6 confirmations

[alenevaa]

If so, what is the net hashrate?

Also, what sort of hashrate would the MM have, do we know?

It's not so simple question.

By my rough estimation:

 public miners hashrate up to 10K
 Average Network hashrate = Average MM hashrate ~ 20K
 But MM can easily increase it up to 100K if he needs it
 So he's mining at ~20K just to maximize block reward (max=100 yacs/block)

[aso118b]

Anyone else have coins stuck on http://yac.erlog.pt/ as well?  I haven't received my payout in months and I emailed the pool owner a few time (no reply).  Who runs this pool anyway?

[Roister01]

Thank you...

So to clarify, if i am understanding the situation:

My computer is only capable of 0.22 KH/S, or 220 hashes per second.

The pool hashrate was around 1 KH/s

The network hashrate (anyone currently minting in the world) 20 KH/S

MM can raise his hashing power to 100 KH/s

So we would need a hundred pools such as this one to have the same hashing power of MM?

PHEW!