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Etlase2
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May 27, 2013, 05:24:04 AM |
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A good user-based pool will publish the amount of LKY each block yielded, and this can be verified in the block chain explorer. Whoopee, you can verify that it mined a block that it admitted mining. That wasn't my question. And in a P2Pool the minted coins are sent directly to your wallet in proportion to your share rate, so if a large block is found you get whatever percent of it you would normally get with a small block.
This is why I asked if people are mostly using p2pool nowadays. The bonus blocks are very convenient for pool operators to forget that they mined. |
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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rapta
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May 27, 2013, 05:26:32 AM |
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Yeah I believe so. Much easier. I love this coin.
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BChydro
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May 27, 2013, 05:33:48 AM |
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A good user-based pool will publish the amount of LKY each block yielded, and this can be verified in the block chain explorer. Whoopee, you can verify that it mined a block that it admitted mining. That wasn't my question.
Try reading what I said again. You can verify the amount of LKY minted with each block in the block chain explorer. How is that difficult to understand? And in a P2Pool the minted coins are sent directly to your wallet in proportion to your share rate, so if a large block is found you get whatever percent of it you would normally get with a small block. This is why I asked if people are mostly using p2pool nowadays. The bonus blocks are very convenient for pool operators to forget that they mined. Again, you can verify the amount of LKY minted with each block to see if your pool operator is being honest. There are many other, easier ways a pool operator can rip off miners, not just with LKY but any coin. This is why its always important to join a pool you trust. |
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Etlase2
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May 27, 2013, 05:41:40 AM |
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Try reading what I said again. You can verify the amount of LKY minted with each block in the block chain explorer. How is that difficult to understand? How does this prove that a pool mined a lucky block and did not tell anyone? |
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Etlase2
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May 27, 2013, 05:58:12 AM |
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Are you brain damaged? No, but my understanding of pool mechanics is probably higher than yours. 1. Pool mines a block. And if that block is lucky, operator does not award anything and continues on as if the pool has not mined a block. The incentive to do this with a lucky block is incredibly high because the odds of being found out when only doing this on a rare occasion are low. Unless pool systems have advanced to where each miner now has a piece of proof in the block, like p2pool. If they have not and still operate under the same conditions as pools have in the past, then a pool operator can get away with a huge payout with his worker bees none the wiser. But I don't keep up with pool technology because I couldn't care less about it, so it is possible that pools operate differently nowadays. So I raised the question as to whether or not this vulnerability with pools has been fixed, because luckycoin makes it very ripe for the exploitation if not. |
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arlington
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May 27, 2013, 06:11:17 AM |
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Are you brain damaged? No, but my understanding of pool mechanics is probably higher than yours. 1. Pool mines a block. And if that block is lucky, operator does not award anything and continues on as if the pool has not mined a block. The incentive to do this with a lucky block is incredibly high because the odds of being found out when only doing this on a rare occasion are low. Unless pool systems have advanced to where each miner now has a piece of proof in the block, like p2pool. If they have not and still operate under the same conditions as pools have in the past, then a pool operator can get away with a huge payout with his worker bees none the wiser. But I don't keep up with pool technology because I couldn't care less about it, so it is possible that pools operate differently nowadays. So I raised the question as to whether or not this vulnerability with pools has been fixed, because luckycoin makes it very ripe for the exploitation if not. look at this p2pool http://p2p.sytes.net:19335/static/it publishes what is the block size and who gets what, no confusions there. |
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BChydro
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May 27, 2013, 06:16:34 AM |
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Etlase2 I see what you are saying, but it just wouldn't work. When you're mining for a normal pool, you're trying to mint a block with the pool operators wallet address, so all blocks any miner in that pool produces will have coins sent to that address. If you really feel that you're being cheated, again you can use the block chain explorer to search all published blocks with coins being sent to the pool operator's wallet. The pool operator can't just change the wallet address last second then publish it, as that would change the block hash. Secondly, this could happen with ANY coin. In fact, one would think a LTC or BTC pool operator would be more inclined to do so as a published block is worth $150 and $3250 respectively.
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turtles
Newbie
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Activity: 28
Merit: 0
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May 27, 2013, 06:25:35 AM |
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seems like a lot of people are jumping ship, whats the point of mining a new coin for 30 hours and quitting?
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Etlase2
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May 27, 2013, 06:33:08 AM |
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Again, that is p2pool, and since everybody still isn't using p2pools for whatever reasons, there must be some benefit to not using p2pool. Etlase2 I see what you are saying, but it just wouldn't work. When you're mining for a normal pool, you're trying to mint a block with the pool operators wallet address, http://bitcoin.stackexchange.com/questions/10687/what-prevents-a-pool-miner-from-stealing-an-entire-block?lq=1See the first answer. "To sum up - a miner does not know the coinbase transaction, nor can it change the block without invalidating it." The miner who finds the winning hash will know that he found it, but he has no way of proving that the pool did anything malicious, and it could be considered fud. Secondly, this could happen with ANY coin. In fact, one would think a LTC or BTC pool operator would be more inclined to do so as a published block is worth $150 and $3250 respectively.
Yes it can, but as I have stated twice now, the incentive is significantly higher to do this only for a lucky block. |
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thisnewcoin
Full Member
Offline
Activity: 406
Merit: 104
Convert Crypto at BestChange
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May 27, 2013, 07:16:42 AM |
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diff drop below 3, time to try some solo mining...
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fisheater
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May 27, 2013, 09:00:11 AM |
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Only p2pool you see clearly how the payout is done. Other pools you can only take a guess.
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ingvarfervent
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May 27, 2013, 03:26:54 PM |
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So, When Cryptsy\Btert\mcxNOX\... add LKY ?  |
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fisheater
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May 27, 2013, 05:05:56 PM |
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So, When Cryptsy\Btert\mcxNOX\... add LKY ? Hopefully soon... |
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arlington
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May 27, 2013, 05:24:06 PM |
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So, When Cryptsy\Btert\mcxNOX\... add LKY ? Hopefully soon... yes support LKY go to an exchange! |
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pizza
Member
Offline
Activity: 112
Merit: 10
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May 27, 2013, 06:03:42 PM |
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Cryptsy accepts coins in a week now, so more coins for me until then haha
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thisnewcoin
Full Member
Offline
Activity: 406
Merit: 104
Convert Crypto at BestChange
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May 27, 2013, 06:04:40 PM |
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Yes and diff at 2.5 now, great to do some solo mining!
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arlington
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May 27, 2013, 06:23:10 PM |
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Yes and diff at 2.5 now, great to do some solo mining!
yes pool mining gets a high return rate too.. |
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arlington
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May 27, 2013, 06:53:56 PM |
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{
"blocks" : 5016,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 2.51047054,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 139925020,
"pooledtx" : 0,
"testnet" : false
}
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pizza
Member
Offline
Activity: 112
Merit: 10
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May 27, 2013, 07:10:28 PM |
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Anybody hit a 5888 block yet?
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