BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes)

[bible_pay]

So....Is there someplace ya'll could recommend a bone-noob to go to learn what is being discussed here and how it applies to the several small rigs I am operating.

This is a load of fun and I really appreciate the deep participation of everybody involved.

I don't really understand the saltiness of some folk at times,  but I seem to encounter salty people no matter where I go in life, so i guess there just out there in over abundance..

Im particularly confused about 'staking' and what I need to be doing, when this is implemented, to ensure I am maximizing my potential.

Thanks for everything you're doing even if I don't understand at least half of it!!!

JigSaw

I'd recommend joining Slack (biblepay.slack.com) for real time discussions.  There is usually someone that can be found to chat with about BBP.

Understand, this is a discussion about a future feature that is being developed and yet to be tested.  So you have to look "big picture" on this as specifics on how it will affect you are going to be hard to find until a lot of testing is done and it's close to deployed.   But in simple terms, we'll use some imaginary numbers.  Lets say you and I have identical computers that each have a 1/10,000 chance of finding the next block.   If you've got 10K BBP that you got 10 days ago, and you want to "stake" it, you get 100K mining points.  Let's say I've got 5K BBP that I've had for 20 days and I want to "stake" all of it as well, so I get 100K mining points.  So the system recognizes our 100K mining points as an indicator of a supporters of the coin, and makes mining the next block easier, and we both end up having a 1/8,000 chance of finding the next block, whereas a third party with an identical computer but no mining points ends up dropping to a 1/14,000 chance of finding the next block.  It's not entirely clear if by staking your coins will be "reset" in age automatically, only reset in age if they find a block or never reset in age.  It seems they will only be reset in age if successful, based on the statement "When one single PC of the 1000 solves one block, the coins used from the shared wallet that were in-stake are now spent and have zero coin age."

The statement "Meaning that a botnet with 1000PCs and a 100K bbp balance is very close in equality to a single user with ONE PC and a 100K bbp balance." on the surface seems to be untrue.  But, in practice it will be true in my opinion.  On the surface, 1000 machines hashing with a 90% bonus will win a lot more than one machine with a 90% bonus.  But in practice since the motivation of a botnet is immediate profit, they're unlikely to retain coins very long, they'll never build up a coin age modifier like a normal user will.  If they started to behave like a normal user and hold coins long term, then they would de facto be like a "normal" user that runs a lot of VPS.

Yes, the coin-age is not relinquished until you actually successfully stake a block (IE Mine a block with a stake in it).  At that moment you lose all the coin age on the inputs. 

But also, that coin-age will only be useable in exactly one block.  If some nefarious group is sharing a wallet and trying to stake the same coins, that will result in a double-spend attempt and a d-dos ban on the node that happens to fall through second.  For that reason its better for them just to keep it simple and stake distinct wallet balances so they dont get flagged with a double spend attempt.

[bible_pay]

All,

Proof-Of-Loyalty is ready to test in testnet, please fire up as many testnet testers as possible here:

http://forum.biblepay.org/index.php?topic=89.msg1093#msg1093

Thanks!

NOTE:  If you get this working tonight, we will need to wait until tomorrow for useful loyalty ages (IE 24 hours+).

[SEO_Account]

I am in the process of purchasing and setting up 20-30 machines to mine on the pool how will this effect me?

[616westwarmoth]

I am in the process of purchasing and setting up 20-30 machines to mine on the pool how will this effect me?

For now, it won't affect you at all.   In the future, you might find that your 30 machines don't do as well as 1 machine with a good stake.

[SEO_Account]

I am in the process of purchasing and setting up 20-30 machines to mine on the pool how will this effect me?

For now, it won't affect you at all.   In the future, you might find that your 30 machines don't do as well as 1 machine with a good stake.

So better off spending the $ on coin and using 1 powerful machine to mine? 100% this is happening?

[bible_pay]

I am in the process of purchasing and setting up 20-30 machines to mine on the pool how will this effect me?

For now, it won't affect you at all.   In the future, you might find that your 30 machines don't do as well as 1 machine with a good stake.

So better off spending the $ on coin and using 1 powerful machine to mine? 100% this is happening?

It could be end of March or April before its released, as we've had too many mandatories recently.

You can always buy 100K biblepay for each cloud VPS and shut down the ones you cant afford to buy the BBP for.
Hybrid hashing should still be an option.

[616westwarmoth]

Yes, the coin-age is not relinquished until you actually successfully stake a block (IE Mine a block with a stake in it).  At that moment you lose all the coin age on the inputs. 

But also, that coin-age will only be useable in exactly one block.  If some nefarious group is sharing a wallet and trying to stake the same coins, that will result in a double-spend attempt and a d-dos ban on the node that happens to fall through second.  For that reason its better for them just to keep it simple and stake distinct wallet balances so they dont get flagged with a double spend attempt.

It may be overly technical, but how would a shared wallet behave differently than a normal wallet?  Wouldn't upon a successful use of the coin-age bonus, the coin age be reset to zero for all miners with that wallet, basically behaving like one wallet on one miner would?

[SEO_Account]

I am in the process of purchasing and setting up 20-30 machines to mine on the pool how will this effect me?

For now, it won't affect you at all.   In the future, you might find that your 30 machines don't do as well as 1 machine with a good stake.

So better off spending the $ on coin and using 1 powerful machine to mine? 100% this is happening?

It could be end of March or April before its released, as we've had too many mandatories recently.

You can always buy 100K biblepay for each cloud VPS and shut down the ones you cant afford to buy the BBP for.
Hybrid hashing should still be an option.

True, I am not using cloud VPS for mining physical machines only am I doing it wrong?

[bible_pay]

Yes, the coin-age is not relinquished until you actually successfully stake a block (IE Mine a block with a stake in it).  At that moment you lose all the coin age on the inputs. 

But also, that coin-age will only be useable in exactly one block.  If some nefarious group is sharing a wallet and trying to stake the same coins, that will result in a double-spend attempt and a d-dos ban on the node that happens to fall through second.  For that reason its better for them just to keep it simple and stake distinct wallet balances so they dont get flagged with a double spend attempt.

It may be overly technical, but how would a shared wallet behave differently than a normal wallet?  Wouldn't upon a successful use of the coin-age bonus, the coin age be reset to zero for all miners with that wallet, basically behaving like one wallet on one miner would?

No, its not recommended because it will get you ddossed, and if you only have one IP, then your whole house/farm is ddossed.

The n+ miners who are still latched on to the stake transaction they are trying to add risk thinking that they found a block (due to the increased weight) and will attempt to broadcast it.  We dont want to hose our network up with bad practices and have everyones log showing stuff like that either.

[bible_pay]

I am in the process of purchasing and setting up 20-30 machines to mine on the pool how will this effect me?

For now, it won't affect you at all.   In the future, you might find that your 30 machines don't do as well as 1 machine with a good stake.

So better off spending the $ on coin and using 1 powerful machine to mine? 100% this is happening?

It could be end of March or April before its released, as we've had too many mandatories recently.

You can always buy 100K biblepay for each cloud VPS and shut down the ones you cant afford to buy the BBP for.
Hybrid hashing should still be an option.

True, I am not using cloud VPS for mining physical machines only am I doing it wrong?

Well the distinction is we would not want to recommend you buy 20 physical machines for BBP if you could stake a greater balance with that same sum (of capital) on less machines.

Its entirely up to you though, I think a machine with a 100K stake balance and 2000 HPS will do fine for a while, but it will get to a point where its cheaper to just put more BBP on less nodes as we get more popular.

You can see the relationship in the whitepaper here (see Target Hash Modification):
http://wiki.biblepay.org/Proof_Of_Loyalty

[SEO_Account]

I am in the process of purchasing and setting up 20-30 machines to mine on the pool how will this effect me?

For now, it won't affect you at all.   In the future, you might find that your 30 machines don't do as well as 1 machine with a good stake.

So better off spending the $ on coin and using 1 powerful machine to mine? 100% this is happening?

It could be end of March or April before its released, as we've had too many mandatories recently.

You can always buy 100K biblepay for each cloud VPS and shut down the ones you cant afford to buy the BBP for.
Hybrid hashing should still be an option.

True, I am not using cloud VPS for mining physical machines only am I doing it wrong?

Well the distinction is we would not want to recommend you buy 20 physical machines for BBP if you could stake a greater balance with that same sum (of capital) on less machines.

Its entirely up to you though, I think a machine with a 100K stake balance and 2000 HPS will do fine for a while, but it will get to a point where its cheaper to just put more BBP on less nodes as we get more popular.

You can see the relationship in the whitepaper here (see Target Hash Modification):
http://wiki.biblepay.org/Proof_Of_Loyalty

True I just think it will be cheaper for me in the long run to have physical machines than to rent. Unless someone can do the math for me? How much $.$$ / HPS to rent? Is it not against most cloud TOS? I am not talking about buying expensive machines.

[616westwarmoth]

True I just think it will be cheaper for me in the long run to have physical machines than to rent. Unless someone can do the math for me? How much $.$$ / HPS to rent? Is it not against most cloud TOS? I am not talking about buying expensive machines.

If you have other use for the machines, it's hard to really, say.  I bought several machines and they've done well, and yes, most VPS prohibit high compute uses (like mining) and those that don't tend to be pricier (so you're not likely to find a $5 VPS that lets you mine for long)  The upside of using amazon or microsoft's higher end products is if two months from now the PoL system works out and gets implemented, you won't have a bunch of extra computers that are extraneous.  Plus I can tell you, dealing with the extra heat is tricky when it gets warm.  But you basically have to make an educated guess, if you could rent HPS for 1/6th the price of a computer, then it might be worth it if this comes to fruition in 3 months.  But it's all a guess.

[616westwarmoth]

No, its not recommended because it will get you ddossed, and if you only have one IP, then your whole house/farm is ddossed.

The n+ miners who are still latched on to the stake transaction they are trying to add risk thinking that they found a block (due to the increased weight) and will attempt to broadcast it.  We dont want to hose our network up with bad practices and have everyones log showing stuff like that either.

So I guess the question is if I'm running the same wallet on multiple machines, when I send a transaction from one, it is reflected in all of them.  So why would the usage of the stake with a successful win be any different than with five machines on the same wallet or one machine on a singular wallet?

[hkalvin]

Hi Rob
I can no longer log in to the pool, its rejecting my passwd. also the password reset still pops up the email notification but i don't receive it. Help please!
Thanks
Mining as 'oldyac'

It seems rob ignore our post, we were banned while I dunno why,
It is not a hacked as all workerID fail and down to solo mining


 

[joelles]

Hi Rob
I can no longer log in to the pool, its rejecting my passwd. also the password reset still pops up the email notification but i don't receive it. Help please!
Thanks
Mining as 'oldyac'

It seems rob ignore our post, we were banned while I dunno why,
It is not a hacked as all workerID fail and down to solo mining


 

You update to last version new acc?

[slovakia]

joelles he got problem with pool acc,not with miner 

[joelles]

joelles he got problem with pool acc,not with miner 

ok sorry, my fault

[sharpshot]

CoinsMarkets Exchange posted an official news update:

"About the down time ,
Time : 2018-01-19
First let us explain what is coinsmarkets , we are based on 2 investor , 1 admin , 1 coder , 2 senior support and 4 general support .
In November last year 1 of senior support left the team , It is hard enough to hire a new one , this work is based on a lot of trust , so we still waiting for correct condidat.

Now let's move to the issue , in December we experienced a lot of new users and huge volume , we were ready for double or even triple volume but in our case it was 10x+.

From here all kind of problem start with servers ,
Now add to that the last senior support remaining have some family issue and was forced to be off  most of the time .
In addition to all that there was some db corruption issue we faced due to the overload and later hosting issue.

So a lot of work to do with a lot of missing stuff.

Please understand that in exchange you can't just go and hire someone and trust him millions of dollars .

We are sorry for lack of comunication about issue we have thought that people already trust us enough , and we invested 100% of time in restoring the site .

Now issue with hosting , hosting complained about a lot of fraud report from users about our service . We find this really hard to explain , it is clear that not even a single coin has moved from our wallets , and once again we are here to stay ,

We have not even released 10% of our road map , there is a lot of new future to be added in the nearest future.

A week ago we started negoation with new host that can accept similar service , we initiated the move ,

The Database was fixed yesterday night .

Now remain to setup new servers , few fix here and there and service will be restored ,

We write our news only in coinsmarkets news section , any twitter , chat msg etc is a scam ,

Again Official Coinsmarkets message are written only in coinsmarkets news section ."

I think they should of closed new sign ups, like other exchanges have when they have been overwhelmed.  It's horrible to see some of the ugly comments people have about them but unfortunately, there's a lot of horrible people in crypto.  They were probably the ones reporting the site as a fraud just because they couldn't log in.  I hope they get the site back to normal and can track some of the people that have made death threats and remove their accounts.

[slovakia]

sharpshot but fault is on their side ....   current user may not to know how working exchange ....

[EmoHP]

How can I compile my own cpu-specific wallet? I use windows.

It's a big challenge, but we have the executable. So it should be possible somehow.

And I have to ask another question. Is linux mining faster than windows? I see more people choose linux.