[ANN] [QRK] Quark | Core 0.10 upgrade

[feeleep]

Guys

Today few of qrk.coinmine.pl miners found an exploit to cash out more coins that they actually mined and hot wallet was completely dry out. This exploit was possible because of site upgrade I was doing and its not related to pool software.

I know this was kind of my fault but I am kindly asking honest users to give back Quarks to this address: QY9f1fRFMv3xJha9XH637k2Yey1WSkvGBA

Will appreciate your cooperation.

feeleep

I should have received a 100 QRK auto-payout today which does appear in the website in transaction list, it is marked as "Confirmed", but my wallet is still empty, and the 100 qrk are gone from my pool account. What should I do?

did you ever get your quarks???  what pool??? -digeros

No, I never got my quarks from qrk.coinmine.pl

whats your account name on pool?

[1713887800]

1713887800

[1713887800]

1713887800

[1713887800]

1713887800

[INSeed]

Guys

Today few of qrk.coinmine.pl miners found an exploit to cash out more coins that they actually mined and hot wallet was completely dry out. This exploit was possible because of site upgrade I was doing and its not related to pool software.

I know this was kind of my fault but I am kindly asking honest users to give back Quarks to this address: QY9f1fRFMv3xJha9XH637k2Yey1WSkvGBA

Will appreciate your cooperation.

feeleep

I should have received a 100 QRK auto-payout today which does appear in the website in transaction list, it is marked as "Confirmed", but my wallet is still empty, and the 100 qrk are gone from my pool account. What should I do?

did you ever get your quarks???  what pool??? -digeros

No, I never got my quarks from qrk.coinmine.pl

whats your account name on pool?

Account name on pool is the same, INSeed, do you need the transaction numbeR?

Thanks

[Robert Lewandowski]

Quarkcoin was listed on here, a lot of people have questions about the pre-mine ....

http://www.reddit.com/r/scamcoin/comments/1ry2se/a_list_of_coins_people_find_suspicious/

[Hilux74]

Its annoying that they are claiming Quark was PRE-mined which is completely false.  Pre-mined coins are when say 1,000,000 total coins will exist in say 5 years but the developer mines ay 300,000 before releasing the coin to the public for mining.  Quark on the other had had zero pre-mine.  What Quark had/has was a design where instead of mining coins for 5, 10, 20 years 99% of the mining would be completed in 6 months. 

There is a BIG difference between a coin that is pre-mined and a coin that was fairly mined but by design had a very short mining period of ~6 months.  This short mining period is why Quark is ready for business.  Most of the coins are out there ready to be used.  So unlike Bitcoin large mining consortiums cannot take over the show and control supply.  The Quarks are out and free. 

There are some other coins like Extremecoin that also had a short mining period but what is nice with Quark is that for pretty much its entire mining period it has been worth very little and was not hoarded, it was pretty much mined and sold and many people bought small amounts just because it was cheap making it well distributed.

[Robert Lewandowski]

Its annoying that they are claiming Quark was PRE-mined which is completely false.  Pre-mined coins are when say 1,000,000 total coins will exist in say 5 years but the developer mines ay 300,000 before releasing the coin to the public for mining.  Quark on the other had had zero pre-mine.  What Quark had/has was a design where instead of mining coins for 5, 10, 20 years 99% of the mining would be completed in 6 months. 

There is a BIG difference between a coin that is pre-mined and a coin that was fairly mined but by design had a very short mining period of ~6 months.  This short mining period is why Quark is ready for business.  Most of the coins are out there ready to be used.  So unlike Bitcoin large mining consortiums cannot take over the show and control supply.  The Quarks are out and free. 

There are some other coins like Extremecoin that also had a short mining period but what is nice with Quark is that for pretty much its entire mining period it has been worth very little and was not hoarded, it was pretty much mined and sold and many people bought small amounts just because it was cheap making it well distributed.

Ive seen it mentioned that there was a couple 2+ Million Buy Orders for QRK when it was insanely cheap who knows where that is now. But my overall opinion is that almost every coin that we see on Coinmarketcap was heavily premined or heavily bought up when it was first released. Im still confident in QRK because i have a good hunch about it, well see what happens.

[victzhang]

I think it is unfair to say Quark is a "premined" or "scam" coin.

Quark was and is being mined by the community, not just by its developers or a few privileged people. At its early stage, since it is a quite new coin with an unfamiliar Proof-of-Work, not many miners were mining this coin. And what was even worse, the Quark community did a lousy job of promoting this coin. Although Quark itself has some interesting properties, it was largely unnoticed and forgotten. The mining reward even cannot offset the cost - if you are interesting in the history, navigate to page 68 of the Quark official thread on bitcointalk. Even during that hard period, miners were still working on this coin to keep it alive.

Personally, I am an early Quark miner; I mined about 1000K Quarks using my laptop and 2 desktop computers during the first two months. I HAD TO mine Quark because all my computers don't have a discrete GPU and I can't afford an ASIC. Other coins are unfair to me, since a high-end GPU is required to mine them efficiently. To me Quark is the fairest coin since everyone can mine it on CPU instead of specialized hardware.

I sold about 500K Quarks in total when the price was extremely low (less than 0.00000100BTC). Quark was plummeting down to 0.00000030BTC, and I thought there was no hope for this coin and donated 262K Quarks to a bounty. Honestly, currently I have 270,773.0369 QRK in my wallet and I won't sell it in near future. Yes, this is still indeed a large number comparing with the mining income today, but as an early adopter who helped build up the Quark community, I think I deserve the reward. If you think it is unfair, think about some early BTC miners. In the history of Bitcoin, there were also many early miners mined large amount of coins easily. If they kept them until today, they become really really rich (but there were very few wise miners). There is nothing wrong that early miners could earn more. They took the risk of adopting a new technology. They kept the coin alive during the hard times.

Bitcoin distribution is also very uneven. You can see the top 100 richest Bitcoin addresses on bitcoinrichlist.com to understand this. Bitcoin is considered as "fair" (or at least "fairer" than Quark), just because there are still a minority of people with ASICs can mine it today. This is really ridiculous.

Yes, there are a few early miners selling off their Quarks and earn some BTCs recently. I say "some" because I believe the Quark is going to be more valuable in the future, and those who sell off their coins today might get really large amount money if they sell it in the future (Consider the Bitcoin history!). This is actually very good, since right now the coin is still pretty cheap thanks to these dumps and in this way early miners have distributed their coins to the community. Recently, the trade volume on cryptsy is over 1000BTC (5000BTC peak) per day. This is a really huge number, meaning that large amounts coins have been distributed during the panic sell off. This is GOOD, in terms of creating a better distribution (although these early miners will cry after a few months).

Quark is being mined during a short period of time, which discourages GPU or ASIC miners and keeps the coin fair since Developing ASIC miners takes considerable time and man power. Quark are mostly mined by early miners, and have been well distributed before the value of this coin goes high like Bitcoin. So there are no ASIC miners, no a minority of privileged people mining using specialized hardware for big profit. These factors, ostensibly look like a "premine", essentially are great advantages of Quark. Meanwhile, Quark is also much more secure and faster than Bitcoin.

In conclusion, there is nothing wrong with Quark itself. If you don't like this coin in anyway, simply looking for other coins you like. Don't say Quark is a scam.

[Amph]

hey wtf, i opened the wallet, and i have immediately started receiving, mass block transactions?

[dE_logics]

Guys protect that wiki article from vandalism.

[giveBTCpls]

My wallet is not syncing. It blinks from these 2 black windows icon to 1 red bar then again to 2 black windows icon.

[Netnox]

All attention: Someone posted a pretty legit suggestion on Reddit to try to solve the 90% release within the 6 months period which is a drawback as we have heard.

I quote: We need a fork of Quarkcoin "Quarkcoin's hashing mechanism was a great idea. What wasn't a great idea however is releasing 90% or so of coins in a period of six months.
We need a fork that gets rid of the insane early adopter's reward. Who's with me?"

Some already backed this plan.

Here is the link: http://www.reddit.com/r/QuarkCoin/comments/1rzlea/we_need_a_fork_of_quarkcoin/

Let's all cooperate, i believe if this issue is solved. Quark will see huge gains!

[maxsolnc]

All attention: Someone posted a pretty legit suggestion on Reddit to try to solve the 90% release within the 6 months period which is a drawback as we have heard.

I quote: We need a fork of Quarkcoin "Quarkcoin's hashing mechanism was a great idea. What wasn't a great idea however is releasing 90% or so of coins in a period of six months.
We need a fork that gets rid of the insane early adopter's reward. Who's with me?"

Some already backed this plan.

Here is the link: http://www.reddit.com/r/QuarkCoin/comments/1rzlea/we_need_a_fork_of_quarkcoin/

Let's all cooperate, i believe if this issue is solved. Quark will see huge gains!

How this issue can be solved with current Quark version? 

[everythingis19]

Not sure of the technicalities of this "forking"
So long as I don't lose any of the QRK I purchased already a week ago?

[NUFCrichard]

if this fork happened, it wouldn't be quark anymore.  You are arguing against the whole concept of quark, it won't happen.

[pabloangello]

Not sure of the technicalities of this "forking"
So long as I don't lose any of the QRK I purchased already a week ago?

They are just considering creating new coin based on quark. Quark will be still there :p

[Netnox]

if this fork happened, it wouldn't be quark anymore.  You are arguing against the whole concept of quark, it won't happen.

Quark has serious drawback in mining issue. This has to be solved imho. If solved it will make huge gains

[RenegadeMind]

Isn't the "OMG all the coins are mined" issue already solved by Securecoin? Why not just use that? (If you can get the client to work... doesn't seem to want to connect for me... But neither does the Quarkcoin client either...)

[Netnox]

Isn't the "OMG all the coins are mined" issue already solved by Securecoin? Why not just use that? (If you can get the client to work... doesn't seem to want to connect for me... But neither does the Quarkcoin client either...)

Marketings wise Quark is far ahead of Securecoin. It only has to solve the mining issue imo

[pabloangello]

Isn't the "OMG all the coins are mined" issue already solved by Securecoin? Why not just use that? (If you can get the client to work... doesn't seem to want to connect for me... But neither does the Quarkcoin client either...)

Marketings wise Quark is far ahead of Securecoin. It only has to solve the mining issue imo

I don't mine quarks so I dont know what is going on with that lately. Could you explain me what is going on with that case last days?

[EntropyExtropy]

To clarify on the 'fork' issue. Those of us considering developing a quark-based coin are still discussing whether or not to keep the existing blockchain. If we do, the existing public ledger will be adopted at the time of the release of the first Quark-derivitive release, and any transactions/account balances from that point backwards will be adopted into the new coin, meaning that individuals with a stake in Quark won't lose their efforts.


I've been advocating using an engineered 'exodus block' that will effectively execute a reverse stock split between the old block and the new block at some ratio (which I believe should be 10:1); meaning that the circulation of Quark would be reduced to 25.7 million. A mining schedule could then be effected that produced the same benefits of Quark (high-circulation, high-fungibility, low incentive to hoard), but made it much more fair to those only getting involved now.

The 'pre-mining' issue, though it was never an actual pre-mine, is the reason for the backlash against Quark. I believe it can be, and needs to be, fixed otherwise Quark is likely to fade into obscurity.

[zvs]

if this fork happened, it wouldn't be quark anymore.  You are arguing against the whole concept of quark, it won't happen.

Quark has serious drawback in mining issue. This has to be solved imho. If solved it will make huge gains

lol, the 'mining issue' is one of the main 'points' of the coin..  if you solve the 'mining issue' then it isn't quark anymore...  i mean, seriously?

and it sure wasn't premined, I was there with the 2048 size blocks too