TERRACOIN ATTACK OVER 1.2TH ATTACK CONFIRMD

[crazy_rabbit]

Poor Terracoin... SHA256 ALTs are going to be seeing some troubling times as ASICs become more widespread.

However, I think over time that this will decrease. As less power efficient ASICs become unprofitable on Bitcoin, ASIC owners will be looking for another way to use their machines other than as a paper weight. I predict most of these people will switch to SHA256 ALTs, which will greatly increase the network speed and help to fight off attacks such as this.

The above mentioned movement is akin to the Bitcoin ASICs moving the GPU power over to Scrypt coins. It is just another inevitable step in the evolution of mining hardware and crypto currencies.

It will be interesting to find out if I am right, but I predict at least one SHA256 ALT to really become popular like Litecoin once certain ASICs start becoming unprofitable on Bitcoin. Which one will be the lucky winner? That's anyone guess, I am thinking a new SHA256 coin will come out in the next year or so that will blow all the others out of the water. Hopefully it is one that is innovative and brings something positive to the world of ALT coins. All the current SHA-256 ALTs are not very innovative IMO.

They day when less power efficient ASIC become unprofitable on bitcoin is very, very, very far in the future. Maybe years. Kids in their basements with free (parent paid) electricity have a very high threshold for expenses.

[Arbitrageur]

I'll ask again and an answer from experts will be very much appreciated:

what's the issue with trasferring TRC right now? yesterday everything was still working, 100 confirmations were required by many exchanges but the trasfers were still working, then since last night (CET time) they stopped working and TRC don't reach the account of destination, seem to be lost in the web, anybody has any clue here?

has anybody been succesfull in trasferring trc in the last 10 hrs?

if someone has, I guess it's the exchange I send the TRC to which is witholding the deposit.

thanks in advance.

[DeathAndTaxes]

I'll ask again and an answer from experts will be very much appreciated:

what's the issue with trasferring TRC right now? yesterday everything was still working, 100 confirmations were required by many exchanges but the trasfers were still working, then since last night (CET time) they stopped working and TRC don't reach the account of destination, seem to be lost in the web, anybody has any clue here?

has anybody been succesfull in trasferring trc in the last 10 hrs?

if someone has, I guess it's the exchange I send the TRC to which is witholding the deposit.

thanks in advance.

This applies to any crypto-currency.  If the transaction is recorded on the blockchain then it is an issue with the recipient simply not giving credit.  There is no such thing as "not complete".  A transaction is either confirmed or it isn't confirmed.  Now if I was running an exchange right now given how trivially easy it would be to deposit, exchange, double spend I wouldn't be posting ANY deposits not even ones with 1,000 confirmations.

[roy7]

I'll ask again and an answer from experts will be very much appreciated:

what's the issue with trasferring TRC right now? yesterday everything was still working, 100 confirmations were required by many exchanges but the trasfers were still working, then since last night (CET time) they stopped working and TRC don't reach the account of destination, seem to be lost in the web, anybody has any clue here?

has anybody been succesfull in trasferring trc in the last 10 hrs?

if someone has, I guess it's the exchange I send the TRC to which is witholding the deposit.

thanks in advance.

Even if your transactions had 120+ confirms, the attacker can still wipe them out by providing thousands of new blocks in a moment, thus getting a longer chain and making everything else invalid. When this happens, your coins never actually were sent (since the block chain with the transfer "never happened"), and instead they would still be wherever they were previously.

If your coins were mined after the attack started and the blocks that you mined are wiped out, then the coins you earned for mining those blocks no longer exist.

Transfers will remain unreliable until at least block 175,000 when the patched client will change the algorithm to prevent this sort of attack (as far as we can tell). In the mean time the attacker is free to do what he wants and continue minting coins only for himself.

[Arbitrageur]

many thanks

if the transaction is recorded on the blockchain then it is an issue with the recipient simply not giving credit.  There is no such thing as "not complete".  A transaction is either confirmed or it isn't confirmed. 

very much appreciated. in fact the amount is withheld by the exchange without any official statement on the matter

[gyverlb]

They day when less power efficient ASIC become unprofitable on bitcoin is very, very, very far in the future. Maybe years. Kids in their basements with free (parent paid) electricity have a very high threshold for expenses.

Not sure: unlike GPUs, you can't sell your mining hardware to someone who won't mine with it and the current reward/electricity is 50:1.
With stable prices when the total hashrate reaches 10PH/s, Avalons/BFL and 1st gen ASICMINER chips will become unprofitable.

400GH/s miners based on bitfury chips with at least 6x better energy efficiency are being ordered right now and competition seems to come for them too. This is at a price point comparable to what batch3 Avalon were sold for not so long ago. Very, very, very far in the future might just be 2014...

[DeathAndTaxes]

At current exchange rate the network would need to be more than 20 PH/s before even the least efficient ASICs are unable to operate profitably (note once purchased the capital cost is sunk so we are looking only at ongoing electrical cost).  It is more like 40PH/s for BFL and KNC devices and 80 PH/s for Bitfury.   With the network currently at 0.2 PH it would take a massive amount hashing power (and thus capital) to push the network rate that high. 

No matter how efficient Bitfury are sales will slow once the ROI% on new hardware is pushed low enough and that should happen long before the least efficient EXISTING units become unprofitable.  The one thing which could change this is a significant rise in exchange rate for an extended period of time and then a substantial crash (i.e. exchange rate rises to $500 over next 6 months and then crashed back to $100).

[neotrix]

At the worst moment of attack : Power of attacker was not 1200 giga but like 3600 giga power (like 60 avalons power)

Does there are 10 people with such amount of asic or hashrate power? I dont think... then the attacker is easy to find lol...

We have a smart attacker changing timestamp and all ( smart attack, the attacker know what hes doing with algo), but stupid enought to mine with 3600 giga showing it can be only few people behind...

Notice : when attack stop, ozco.in get 3600 giga hashrate more (1 anonymous user with 3600 giga LOL), So we can assume this miner is our attacker. Hes actually no mining on ozco since attack restarted but just wait it stop and see again + 3600 giga ( one user) coming on ozco...

Maybe ozco.in can report his IP so some can have some fun too...

[Mooshire]

I hope they give out his IP.

[neotrix]

I hope they give out his IP.

Do you know his username of forum Im going to request him his opinion about. Cause 100% at least 99.99% it s our attacker

I mysef was minning on cointron with 2 avalons TRC and changing for osco when i mine BTC. I also noticed the game...behind on both site when attacker playing...stoping restating...

[negerkolle]

I hope they give out his IP.

You gotta be kidding right? You want a pool to give out the IP of someone who might have done the attack, so you can harass him?

First you need to start by realizing that it is not even wrong to attack a coin. If there is a weakness that can be exploited everyone that wants to spend the energy and hashes is free to do so. That is the problem with most of these alts, they are not secure enough so dont keep money in them that you cannot afford to lose.

[super3]

Ah, I just love Terracoin summer sales.

[neotrix]

I hope they give out his IP.

You gotta be kidding right? You want a pool to give out the IP of someone who might have done the attack, so you can harass him?

First you need to start by realizing that it is not even wrong to attack a coin. If there is a weakness that can be exploited everyone that wants to spend the energy and hashes is free to do so. That is the problem with most of these alts, they are not secure enough so dont keep money in them that you cannot afford to lose.

Well that's a point of view.

Another example : someone hack your own bank with a weakness in your computer. Theft your saving. Then you will have same point of view about exploid of weakness in your computer? Or so I could say as you : dont let in your bank account what you can afford to lose?

Point of views are different according what we own or not in a quoted situation. I agree with you about that.

[crazyearner]

I hope they give out his IP.

Do you know his username of forum Im going to request him his opinion about. Cause 100% at least 99.99% it s our attacker

I mysef was minning on cointron with 2 avalons TRC and changing for osco when i mine BTC. I also noticed the game...behind on both site when attacker playing...stoping restating...

1 I have checked all pools and theirs no one or even a pool close to that power.

2 Looks more of solo mining and or they have a private pool setup exploiting all others.

3 if wanted providing their is blockchain that gives the info like blockchain.info you will find location of where he or she or group is mining coins from.

http://cryptocoinexplorer.com:3750/address/1PAnMKuTs9R4U9FF7xdQSmQc655d2r9zeB

Short Link: http://cryptocoinexplorer.com:3750/a/1PAnMKuTs9

TRC address of coins going to 1PAnMKuTs9R4U9FF7xdQSmQc655d2r9zeB

Balance: 7580 TRC this was taken 24 hours ago and now well probs 10 or 20x that amount
Transactions in: 379
Received: 7580 TRC
Transactions out: 0
Sent: 0 TRC

I was happily mining away over at multipool when I seen orphaned  and then I seen the difficulty go really low then went back up then down and all over the place. I thought ok must be a few blocks bad then more was like ok whats going on no word in irc no details then decided on posting and seeing what has gone on. I hope that TRC devs are working to fix this and the only solution tho it seems would be a hard fork to the date before this happened.

[crazyearner]

Updates after looking around seems theri aware of it new updated client.

Terracoin update 0.1.3-42 is now available for download at our
sourceforge mirror and github repository.

This build addresses the difficulty manipulation issue currently seen on
the live chain, and will be mandatory on block 175000.

The code allowing such difficulty manipulations was added to the client
prior to the ema difficulty adjustment implementation, it should have
been removed from the client long ago to prevent this.

Once most network nodes are updated, and block 175000 is reached, the
capped ema implementation should take care of abnormally forged blocks ;
as usual, this is supposing the network gets more hashing power than the
attacker(s).

With the current artificially decreased difficulty, and the network
hashing power way higher than the 'awaited' rate, network will generate
a lot of orphan blocks until this issue is addressed.

Download links:
---------------

source: master branch at https://github.com/terracoin/terracoin

windows binaries:
http://sourceforge.net/projects/terracoin/files/SatoshiClone/terracoin-0.1.3-42-win32.zip/download

Source-based update:
--------------------
If you previously cloned our repository, you may update using:

cd /path/to/your/local/clone/
git checkout master  # locally on the master branch locally
git pull origin master  # fetches and merges remote master branch

# headless daemon:
cd src
nice make -f makefile.unix -j 4
strip terracoind

# qt-client:
cd /path/to/your/local/clone/
qmake USE_IPV6=-
nice make -j 4
strip terracoin-qt

--
TRC.

http://sourceforge.net/mailarchive/forum.php?forum_name=terracoin-announce

[roy7]

Can't trust those balance figures though. Heck, this single block he's moving around 290K coins:

http://cryptocoinexplorer.com:3750/block/000000000008966b58e347395e01f667550e88dc88df6524ee4af66b570460bf

[LordTheron]

I hope they give out his IP.

You gotta be kidding right? You want a pool to give out the IP of someone who might have done the attack, so you can harass him?

First you need to start by realizing that it is not even wrong to attack a coin. If there is a weakness that can be exploited everyone that wants to spend the energy and hashes is free to do so. That is the problem with most of these alts, they are not secure enough so dont keep money in them that you cannot afford to lose.

I cant believe that no one has already found his IP. There should be a proper hunt for this guy. I don't agree that its not wrong to attack a coin. What makes you think that its fine to steal? just because you know how and have huge hash power? what a bollox..   If your bank account was wiped clear by a hacker, would you say its nothing wrong with that? because the guy knows how to do it and has processing power to make it happen?

[Arbitrageur]

111k just sent to same address on block 171932:

http://cryptocoinexplorer.com:3750/block/000000000009277b83c701f9f6b7639eb1dcc057ce02f3d34613ffb89d12b75d

[neotrix]

I hope they give out his IP.

Do you know his username of forum Im going to request him his opinion about. Cause 100% at least 99.99% it s our attacker

I mysef was minning on cointron with 2 avalons TRC and changing for osco when i mine BTC. I also noticed the game...behind on both site when attacker playing...stoping restating...

1 I have checked all pools and theirs no one or even a pool close to that power.

2 Looks more of solo mining and or they have a private pool setup exploiting all others.

3 if wanted providing their is blockchain that gives the info like blockchain.info you will find location of where he or she or group is mining coins from.

http://cryptocoinexplorer.com:3750/address/1PAnMKuTs9R4U9FF7xdQSmQc655d2r9zeB

Short Link: http://cryptocoinexplorer.com:3750/a/1PAnMKuTs9

TRC address of coins going to 1PAnMKuTs9R4U9FF7xdQSmQc655d2r9zeB

Balance: 7580 TRC this was taken 24 hours ago and now well probs 10 or 20x that amount
Transactions in: 379
Received: 7580 TRC
Transactions out: 0
Sent: 0 TRC

I was happily mining away over at multipool when I seen orphaned  and then I seen the difficulty go really low then went back up then down and all over the place. I thought ok must be a few blocks bad then more was like ok whats going on no word in irc no details then decided on posting and seeing what has gone on. I hope that TRC devs are working to fix this and the only solution tho it seems would be a hard fork to the date before this happened.

The attacker mined at max using 3600 power solo mining TRC...The total network TRC has been 4200 giga ( 500 was on Coinotron) or so for few time before to back to 1200. When attack stopped, 3 minutes later ozcoin got a anonymous miner havong exactly same power around 3600 giga. This new ozco miner dissapearead after few hours. And the attack restarted in matter of minute on TRC

99.99% sure then yes still 0.01% for coincidence. Sure can be lot of people behind, we all have friends having 3600 giga power those days...

[No_2]

I hope they give out his IP.

You gotta be kidding right? You want a pool to give out the IP of someone who might have done the attack, so you can harass him?

First you need to start by realizing that it is not even wrong to attack a coin. If there is a weakness that can be exploited everyone that wants to spend the energy and hashes is free to do so. That is the problem with most of these alts, they are not secure enough so dont keep money in them that you cannot afford to lose.

I'm partly inclined to agree with the above.

Also correlation does not prove this entity's guilt. What happened to innocent until proven guilty?