jaywaka2713
Sr. Member
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Activity: 266
Merit: 250
aka 7Strykes
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July 12, 2013, 10:58:18 PM |
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There are ways to consolidate a large # of transactions with no fees. Search around. The "soon to be released" 0.8.3.x LTC wallet will have a built in utility to combine smaller transactions.
Do you know who develops the LTC wallet? |
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If you want to be a moderator, report many posts with accuracy. You will be noticed.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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disclaimer201
Legendary
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Activity: 1526
Merit: 1001
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July 14, 2013, 06:09:58 AM |
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A question to the dev: I would like to know what happens if some big ltc pools (or other scrypt mining pools) used their hashpower to 51% attack DGC with the intent of killing the network. You know as described here for example: http://maxminer.files.wordpress.com/2013/06/ftc_51attack.pdfI just had a discussion with someone who says that DGC would need to have a much higher hashrate to be secure (he compared it to ltc) and then I thought well, what would happen if people switched from mining ltc to other more profitable coins and ltc hashrate went down? Would it be made just as insecure again? What happens to scrypt coins in general if people are sick of using gpus for mining because they cost too much power or whatever reason. As there are no Asics for scrypt...nor fpgas at this moment. |
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baritus (OP)
Legendary
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Activity: 966
Merit: 1052
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July 14, 2013, 11:58:50 AM |
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A question to the dev: I would like to know what happens if some big ltc pools (or other scrypt mining pools) used their hashpower to 51% attack DGC with the intent of killing the network. You know as described here for example: http://maxminer.files.wordpress.com/2013/06/ftc_51attack.pdfI just had a discussion with someone who says that DGC would need to have a much higher hashrate to be secure (he compared it to ltc) and then I thought well, what would happen if people switched from mining ltc to other more profitable coins and ltc hashrate went down? Would it be made just as insecure again? What happens to scrypt coins in general if people are sick of using gpus for mining because they cost too much power or whatever reason. As there are no Asics for scrypt...nor fpgas at this moment. Why a would a pool attack digitalcoin? Large pools benefit from alternative currencies because they lower their own difficulty and smooth the fluctuations. You can only duplicate the coins you own in an attack. I know of no major DGC holder willing to risk destroying the value of his coins. What would be the incentive to attack the network otherwise? The incentive for the FTC attack was money. Yes, LTC, like all scrypt and sha coins, is secured by hashpower. If the power drops, so does the security. Finally, GPU owners are moving to scrypt mining and not away. ASIC are pushing them in that direction at an ever increasing rate. When bitcoin difficulty stops rising exponentially, and scrypt starts dropping in profit instead of rising exponentially, I'll start worrying about what will happen in the event of a GPU exodus. GPU mining cannot randomly drop in profitability, and the more viable choices a GPU miner has, the less likely it is he'll just give up on it. It is after all a market of supply and demand, at least until ASIC are involved. ASIC are not an advantage in as many ways as they are. I'm not a fan. |
Digitalcoin - Sha256, Scrypt, x11 Mining - Multi-algorithm & One Click Masternodes - Founded in 2013
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mr_random
Legendary
Offline
Activity: 1274
Merit: 1001
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July 14, 2013, 12:05:54 PM |
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Interestingly DigitalCoin and FeatherCoin both have the same network hash right now according to coinchoose: 1.05GH.
Would be nice to see DigitalCoin overtake it.
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baritus (OP)
Legendary
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Activity: 966
Merit: 1052
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July 14, 2013, 12:08:29 PM |
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Interestingly DigitalCoin and FeatherCoin both have the same network hash right now according to coinchoose: 1.05GH.
Would be nice to see DigitalCoin overtake it.
https://dgc.epools.orghttps://ftc.epools.orgIt's already nice though? |
Digitalcoin - Sha256, Scrypt, x11 Mining - Multi-algorithm & One Click Masternodes - Founded in 2013
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mr_random
Legendary
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Activity: 1274
Merit: 1001
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July 14, 2013, 12:13:42 PM |
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Interestingly DigitalCoin and FeatherCoin both have the same network hash right now according to coinchoose: 1.05GH.
Would be nice to see DigitalCoin overtake it.
https://dgc.epools.orghttps://ftc.epools.orgIt's already nice though? That is great news  We've gone through a nice jump in price and activity lately. I can see further spikes like this occurring over the coming months... I would list the reasons why but you already know them lol. |
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mullick
Legendary
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Activity: 1064
Merit: 1002
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July 14, 2013, 01:18:02 PM |
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You can only duplicate the coins you own in an attack. I know of no major DGC holder willing to risk destroying the value of his coins. What would be the incentive to attack the network otherwise? The incentive for the FTC attack was money.
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baritus (OP)
Legendary
Offline
Activity: 966
Merit: 1052
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July 14, 2013, 03:30:29 PM |
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Interestingly DigitalCoin and FeatherCoin both have the same network hash right now according to coinchoose: 1.05GH.
Would be nice to see DigitalCoin overtake it.
https://dgc.epools.orghttps://ftc.epools.orgIt's already nice though? That is great news We've gone through a nice jump in price and activity lately. I can see further spikes like this occurring over the coming months... I would list the reasons why but you already know them lol. At the moment DGC is about double. |
Digitalcoin - Sha256, Scrypt, x11 Mining - Multi-algorithm & One Click Masternodes - Founded in 2013
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disclaimer201
Legendary
Offline
Activity: 1526
Merit: 1001
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July 14, 2013, 11:22:09 PM
Last edit: July 15, 2013, 01:45:01 AM by disclaimer201 |
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A question to the dev: I would like to know what happens if some big ltc pools (or other scrypt mining pools) used their hashpower to 51% attack DGC with the intent of killing the network. You know as described here for example: http://maxminer.files.wordpress.com/2013/06/ftc_51attack.pdfI just had a discussion with someone who says that DGC would need to have a much higher hashrate to be secure (he compared it to ltc) and then I thought well, what would happen if people switched from mining ltc to other more profitable coins and ltc hashrate went down? Would it be made just as insecure again? What happens to scrypt coins in general if people are sick of using gpus for mining because they cost too much power or whatever reason. As there are no Asics for scrypt...nor fpgas at this moment. Why a would a pool attack digitalcoin? Large pools benefit from alternative currencies because they lower their own difficulty and smooth the fluctuations. You can only duplicate the coins you own in an attack. I know of no major DGC holder willing to risk destroying the value of his coins. What would be the incentive to attack the network otherwise? The incentive for the FTC attack was money. Yes, LTC, like all scrypt and sha coins, is secured by hashpower. If the power drops, so does the security. Finally, GPU owners are moving to scrypt mining and not away. ASIC are pushing them in that direction at an ever increasing rate. When bitcoin difficulty stops rising exponentially, and scrypt starts dropping in profit instead of rising exponentially, I'll start worrying about what will happen in the event of a GPU exodus. GPU mining cannot randomly drop in profitability, and the more viable choices a GPU miner has, the less likely it is he'll just give up on it. It is after all a market of supply and demand, at least until ASIC are involved. ASIC are not an advantage in as many ways as they are. I'm not a fan. The incentive would be money as well. DGC is quite valuable right now, so if someone could make 50000 and sell them for btc? I'm just a bit worried that paranoid LTC supporters who themselves run large ltc pools and who see an upcoming threat in DGC might abuse their hashing power to make sure DGC stays where it is. The reason I write this is because I chatted with someone who claimed to run an ltc pool and I argued with him that I believe DGC is superior to Ltc because of its speed, low orphan rate and community support. Will harddisk space for DGC become an issue much quicker than it is for btc or ltc? Thanks for all your answers! |
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samson
Legendary
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Activity: 2097
Merit: 1068
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July 14, 2013, 11:38:08 PM |
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Someone will attack the coin in one way or another just to create problems.
Are there preparations in place for this ?
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baritus (OP)
Legendary
Offline
Activity: 966
Merit: 1052
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July 15, 2013, 02:27:30 PM |
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Someone will attack the coin in one way or another just to create problems.
Are there preparations in place for this ?
Who? The cost of successfully attacking the coin is rising constantly. Anyone with so much power can just mine it and profit much more. Who throws away large profits just to create problems? @disclaimer201 If the incentive is money, mining DGC would be much more profitable. And if they had that much hash power, it would make more sense. Also, the idea of a successful LTC pool owner ruining his own reputation and destroying his pool by using his members for what is the equivalent of tools doesn't seem very likely. |
Digitalcoin - Sha256, Scrypt, x11 Mining - Multi-algorithm & One Click Masternodes - Founded in 2013
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JohnyBigs
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July 15, 2013, 03:47:28 PM |
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Are orphans and stales still 20%?
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Bortmehanic
Full Member
Offline
Activity: 153
Merit: 100
Switchercoin.com
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July 15, 2013, 03:57:35 PM |
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Are orphans and stales still 20%?
this was not. users appreciate us just for the minimum number of rejections. Join and check. |
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JohnyBigs
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July 15, 2013, 04:00:07 PM |
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Are orphans and stales still 20%?
this was not. users appreciate us just for the minimum number of rejections. Join and check. I'm not speaking about your pool, I'm talking about the coin istelf, coinwarz for example shows say 1000 coins you always got 20% less, same with WorldCoin |
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baritus (OP)
Legendary
Offline
Activity: 966
Merit: 1052
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July 15, 2013, 04:04:28 PM |
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Are orphans and stales still 20%?
this was not. users appreciate us just for the minimum number of rejections. Join and check. I'm not speaking about your pool, I'm talking about the coin istelf, coinwarz for example shows say 1000 coins you always got 20% less, same with WorldCoin What CoinChoose shows is inaccurate. The last pool report I received stated an average of less than 1/15 or 6.7%. |
Digitalcoin - Sha256, Scrypt, x11 Mining - Multi-algorithm & One Click Masternodes - Founded in 2013
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JohnyBigs
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July 15, 2013, 04:06:50 PM |
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Are orphans and stales still 20%?
this was not. users appreciate us just for the minimum number of rejections. Join and check. I'm not speaking about your pool, I'm talking about the coin istelf, coinwarz for example shows say 1000 coins you always got 20% less, same with WorldCoin What CoinChoose shows is inaccurate. The last pool report I received stated an average of less than 1/15 or 6.7%. what do you mean? 6.7% stales/rejects? |
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