basecoin (OP)
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Activity: 98
Merit: 10
Basecoin ANN THREAD: http://tinyurl.com/n6kuk36
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September 11, 2013, 12:09:39 PM |
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It seems that nobody has interests on this coin, but I see the network hash speed is about 35MH/s, this means that people are mining BAC.
Need more promotion on this coin.
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GoldBit89
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September 11, 2013, 12:34:12 PM |
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What makes this coin rare? and honestly this coin is no different then Bitgems,bottlecaps except for the feature of message transactions.
Also address Balthazars post above. i noticed how conveniently you by passed their reply.
and if none of above truly matters then has this coin fixed what issues and problems that have been plaguing bottlecaps and other pos type coins and maybe even been fixed in some coins already? If not , i am not going to even waste my time with this coin until it can be addressed.
Thanks.
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FTC 6nvzqqaCEizThvgMeC86MGzhAxGzKEtNH8 |WDC WckDxipCes2eBmxrUYEhrUfNNRZexKuYjR |BQC bSDm3XvauqWWnqrxfimw5wdHVDQDp2U8XU BOT EjcroqeMpZT4hphY4xYDzTQakwutpnufQR |BTG geLUGuJkhnvuft77ND6VrMvc8vxySKZBUz |LTC LhXbJMzCqLEzGBKgB2n73oce448BxX1dc4 BTC 1JPzHugtBtPwXgwMqt9rtdwRxxWyaZvk61 |ETH 0xA6cCD2Fb3AC2450646F8D8ebeb14f084F392ACFf
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chris.capossela
Newbie
Offline
Activity: 31
Merit: 0
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September 29, 2013, 12:52:59 AM Last edit: September 29, 2013, 01:07:14 AM by chris.capossela |
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Proof of stake coin is more resilient to 51% attack. Since 51% hashpower is not enough to execute a 51% attack. The attackers must also have at least 51% stake.
I.e. another insecure copy&paste without any background... %) 1) Only active stake matters. I.e. if there are total 1000-2000 coins participating in generation, it doesn't matter how many coins exists here. Only this 1000-2000 coins should be counted. 2) Coins amount doesn't matter, only coin*day weight. If you have 1 coin with 0.5 days age then you have the weight, which equal to 0.5 coins with 1 day age. 3) Attacker don't need any hashpower, he needs only some coins. 4) Unlike PoW hashing rate, stake inputs could be re-used multiple times. Attacker can retry attempts to generate subsequent blocks until he get success. He can create multiple wallet copies, for example. Attempts to get successful double spend could be calculated as 1/AttackerWeight^Nconf, AttackerWeight = (% of network weight) / 100, Nconf = 4 (the worst case, 4 subsequent PoS blocks). So, average required attempts will be: % Avg # attempts 1 100000000 2 6250000 3 1234567.901 4 390625 5 160000 6 77160.49383 7 41649.31279 8 24414.0625 9 15241.57903 10 10000 11 6830.134554 12 4822.530864 13 3501.277966 14 2603.082049 15 1975.308642 16 1525.878906 17 1197.303672 18 952.5986892 19 767.3360395 20 625 21 514.1890467 22 426.8834096 23 357.3457785 24 301.408179 25 256 26 218.8298729 27 188.1676423 28 162.6926281 29 141.3865211 30 123.4567901 31 108.281241 32 95.36743164 33 84.32264881 34 74.83147951 35 66.63890046 36 59.53741808 37 53.35720891 38 47.95850247 39 43.22565391 40 39.0625 41 35.38869706 42 32.13681542 43 29.25002069 44 26.6802131 45 24.38652644 46 22.33411116 47 20.49314289 48 18.83801119 49 17.34665256 50 16 51 14.78152682 52 13.67686706 53 12.67349861 54 11.76047764 55 10.92821529 56 10.16828925 57 9.473284438 58 8.836657566 59 8.252622002 60 7.716049383 61 7.222385408 62 6.767577565 63 6.348012923 64 5.960464478 65 5.602044746 66 5.270165551 67 4.962503079 68 4.676967469 69 4.411676278 70 4.164931279 71 3.935198148 72 3.72108863 73 3.521344861 74 3.334825557 75 3.160493827 76 2.997406404 77 2.844704104 78 2.701603369 79 2.567388756 80 2.44140625 81 2.323057313 82 2.211793566 83 2.107112049 84 2.008550964 85 1.915685875 86 1.828126293 87 1.745512606 88 1.667513319 89 1.593822573 90 1.524157903 91 1.458258212 92 1.395881947 93 1.336805445 94 1.280821431 95 1.227737663 96 1.177375699 97 1.129569775 98 1.084165785 99 1.041020356 100 1
First column: Attacker's coin*day weight % of the total network weight. Second column: Average attempts required to get success in the double-spend attack. 5) PoW don't participate in the network protection. If 1 PoW block was generated on the network in the time of your attack then you need less confirmations. 1/AttackerWeight^3 % Avg # attempts 1 1000000 2 125000 3 37037,03704 4 15625 5 8000 6 4629,62963 7 2915,451895 8 1953,125 9 1371,742112 10 1000 11 751,3148009 12 578,7037037 13 455,1661356 14 364,4314869 15 296,2962963 16 244,140625 17 203,5416243 18 171,4677641 19 145,7938475 20 125 21 107,9796998 22 93,91435011 23 82,18952905 24 72,33796296 25 64 26 56,89576695 27 50,80526343 28 45,55393586 29 41,00209111 30 37,03703704 31 33,56718472 32 30,51757813 33 27,82647411 34 25,44270303 35 23,32361516 36 21,43347051 37 19,7421673 38 18,22423094 39 16,85800502 40 15,625 41 14,5093658 42 13,49746248 43 12,5775089 44 11,73929376 45 10,9739369 46 10,27369113 47 9,631777159 48 9,04224537 49 8,499859752 50 8 51 7,538578676 52 7,111970869 53 6,716954264 54 6,350657928 55 6,010518407 56 5,694241983 57 5,39977213 58 5,125261388 59 4,869046981 60 4,62962963 61 4,405655099 62 4,19589809 63 3,999248141 64 3,814697266 65 3,641329085 66 3,478309263 67 3,324877063 68 3,180337879 69 3,044056632 70 2,915451895 71 2,793990685 72 2,679183813 73 2,570581748 74 2,467770912 75 2,37037037 76 2,278028867 77 2,19042216 78 2,107250628 79 2,028237117 80 1,953125 81 1,881676423 82 1,813670724 83 1,748903001 84 1,68718281 85 1,628332994 86 1,572188612 87 1,518595967 88 1,467411721 89 1,41850209 90 1,371742112 91 1,327014973 92 1,284211391 93 1,243229064 94 1,203972145 95 1,16635078 96 1,130280671 97 1,095682682 98 1,062482469 99 1,030610152 100 1
The above formula is simple and beautiful estimation of the security model of the Peercoin-related projects. I appreciate to see such a easy-to-understand table for the first time. But I still have a question regarding PoS coins. The above formula doesn't include an attacker's hashrate in the network. I have heard of PoS coins have two types of difficulty, which are PoS difficulty and PoW difficulty. So the PoS difficulty will adjust to a higher number if PoS blocks are generated faster than a predetermined interval (about 10 minutes in Peercoin and Novacoin). In my understanding, the generating power of PoS blocks depends on coin*day*hashrate weight. And in case the attacker needs to generate PoW blocks she needs hashpower to accoumplish it. I think hashing power is also important when racing with the attacker, is that correct?
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wmikrut
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September 29, 2013, 02:03:48 AM |
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"Basecoin provides annual interest rate of 0.01%, for stakes that are not moved."
Wow... I think one could make more in transaction fees... in one day ....
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I will NEVER ask for any kind of funds up front in a buy/sale of anything on bitcointalk.
BM-2cTFihJKmSwusMAoYuUHPvpx56Jozv64KK
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btbrae
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September 29, 2013, 02:11:13 AM |
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All your base are belong to me...
(sorry)
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ilostcoins
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September 29, 2013, 10:59:33 AM |
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Proof of stake coin is more resilient to 51% attack. Since 51% hashpower is not enough to execute a 51% attack. The attackers must also have at least 51% stake.
I.e. another insecure copy&paste without any background... %) 1) Only active stake matters. I.e. if there are total 1000-2000 coins participating in generation, it doesn't matter how many coins exists here. Only this 1000-2000 coins should be counted. 2) Coins amount doesn't matter, only coin*day weight. If you have 1 coin with 0.5 days age then you have the weight, which equal to 0.5 coins with 1 day age. 3) Attacker don't need any hashpower, he needs only some coins. 4) Unlike PoW hashing rate, stake inputs could be re-used multiple times. Attacker can retry attempts to generate subsequent blocks until he get success. He can create multiple wallet copies, for example. Attempts to get successful double spend could be calculated as 1/AttackerWeight^Nconf, AttackerWeight = (% of network weight) / 100, Nconf = 4 (the worst case, 4 subsequent PoS blocks). So, average required attempts will be: [table 1] First column: Attacker's coin*day weight % of the total network weight. Second column: Average attempts required to get success in the double-spend attack. 5) PoW don't participate in the network protection. If 1 PoW block was generated on the network in the time of your attack then you need less confirmations. 1/AttackerWeight^3 [table 2] This applies to every coin with POS, right?
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LTC: LSyqwk4YbhBRtkrUy8NRdKXFoUcgVpu8Qb NVC: 4HtynfYVyRYo6yM8BTAqyNYwqiucfoPqFW TAG id: 4313 CMC: CAHrzqveVm9UxGm7PZtT4uj6su4suxKzZv YAC: Y9m5S7M24sdkjdwxnA9GZpPez6k6EqUjUt
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Balthazar
Legendary
Offline
Activity: 3108
Merit: 1359
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October 02, 2013, 06:30:58 PM |
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Proof of stake coin is more resilient to 51% attack. Since 51% hashpower is not enough to execute a 51% attack. The attackers must also have at least 51% stake.
I.e. another insecure copy&paste without any background... %) 1) Only active stake matters. I.e. if there are total 1000-2000 coins participating in generation, it doesn't matter how many coins exists here. Only this 1000-2000 coins should be counted. 2) Coins amount doesn't matter, only coin*day weight. If you have 1 coin with 0.5 days age then you have the weight, which equal to 0.5 coins with 1 day age. 3) Attacker don't need any hashpower, he needs only some coins. 4) Unlike PoW hashing rate, stake inputs could be re-used multiple times. Attacker can retry attempts to generate subsequent blocks until he get success. He can create multiple wallet copies, for example. Attempts to get successful double spend could be calculated as 1/AttackerWeight^Nconf, AttackerWeight = (% of network weight) / 100, Nconf = 4 (the worst case, 4 subsequent PoS blocks). So, average required attempts will be: [table 1] First column: Attacker's coin*day weight % of the total network weight. Second column: Average attempts required to get success in the double-spend attack. 5) PoW don't participate in the network protection. If 1 PoW block was generated on the network in the time of your attack then you need less confirmations. 1/AttackerWeight^3 [table 2] This applies to every coin with POS, right? Yes, if it uses PoS blocks as the only trust score source. I think hashing power is also important when racing with the attacker, is that correct?
No, it's incorrect. Read #5 again.
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chris.capossela
Newbie
Offline
Activity: 31
Merit: 0
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October 07, 2013, 12:05:09 PM |
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I think hashing power is also important when racing with the attacker, is that correct?
No, it's incorrect. Read #5 again. I did a little research by myself. So, proof-of-stake miners are forced to test only one hashing per second. That means variable input in the hash function is a timestamp only (like 1381142256 which is unix time), and all the other inputs are fixed at a given block. That being said, a question arises that how to synchronize the entire network's time? Or just permit the time to be approximate and each node checks the timestamp be included in MYTIME + or - 300 seconds or so? Then cheat miners could test the entire available timestamp numbers (601 numbers in the above case) in less than one second and broadcast it in case they find valid blocks. I think that makes PoS difficulty unreasonably high but because the cheat miners burn their stakes so quickly, the situation will become normal in the end. This may not be relating to double-spending attacks, and I am not sure whether it may be a problem or not. PoS block finding relies on the timestamp, so time synchronization or time-range management is important, I think. Could you explain how to keep the timestamp from being evaluated rapidly? Thank you.
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Bfljosh
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October 07, 2013, 04:39:45 PM |
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Is there a problem with the mining pool not paying out? I am mining for a few hours now, no payment received. Lingling88 please fix this or I go solomine. My name is Lordbacon in your pool.
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sheinsha
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October 07, 2013, 05:01:38 PM Last edit: October 07, 2013, 06:44:19 PM by sheinsha |
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Minar.cc Basecoin PPLNS Pool
I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate. Please let me know if you find anything out of normal, comments and suggestions also welcome! I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee. bac.minar.ccStart your miner using the following parameters: URL: | stratum+tcp://bac.minar.cc | PORT: | 3339 | USER: | username.worker | PASS: | workerPass |
Sample command-line: ./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass
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Minar.cc pools are not running anymore, the domain was registered by someone else and I don't have any relationship with the new owner.
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Bfljosh
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October 07, 2013, 05:20:01 PM |
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Is there a problem with the mining pool not paying out? I am mining for a few hours now, no payment received. Lingling88 please fix this or I go solomine. My name is Lordbacon in your pool. Ok I'm out.
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sheinsha
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October 07, 2013, 06:44:53 PM |
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Minar.cc Basecoin PPLNS Pool
I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate. Please let me know if you find anything out of normal, comments and suggestions also welcome! I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee. bac.minar.ccStart your miner using the following parameters: URL: | stratum+tcp://bac.minar.cc | PORT: | 3339 | USER: | username.worker | PASS: | workerPass |
Sample command-line: ./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass VARDIFF + Stratum PPLNS Mining Pool up bac.minar.cc
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Minar.cc pools are not running anymore, the domain was registered by someone else and I don't have any relationship with the new owner.
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sheinsha
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October 12, 2013, 06:00:53 AM |
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Minar.cc Basecoin PPLNS Pool
I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate. Please let me know if you find anything out of normal, comments and suggestions also welcome! I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee. bac.minar.ccStart your miner using the following parameters: URL: | stratum+tcp://bac.minar.cc | PORT: | 3339 | USER: | username.worker | PASS: | workerPass |
Sample command-line: ./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass VARDIFF + Stratum PPLNS Mining Pool up bac.minar.ccAnyone mining this coin? Network Hashrate: 1.058 MH/s Whoever that is, you are welcome on the pool
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Minar.cc pools are not running anymore, the domain was registered by someone else and I don't have any relationship with the new owner.
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sheinsha
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November 18, 2013, 03:48:08 PM |
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Minar.cc Basecoin PPLNS Pool
I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate. Please let me know if you find anything out of normal, comments and suggestions also welcome! I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee. bac.minar.ccStart your miner using the following parameters: URL: | stratum+tcp://bac.minar.cc | PORT: | 3339 | USER: | username.worker | PASS: | workerPass |
Sample command-line: ./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass VARDIFF + Stratum PPLNS Mining Pool up bac.minar.ccAnyone mining this coin? Network Hashrate: 1.058 MH/s Whoever that is, you are welcome on the pool Im about to close my pool for this coin, net has been <1MH for a while now... Anyone interested in continuing mining at bac.minar.cc speak now, or forever hold it...
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Minar.cc pools are not running anymore, the domain was registered by someone else and I don't have any relationship with the new owner.
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basecoin (OP)
Member
Offline
Activity: 98
Merit: 10
Basecoin ANN THREAD: http://tinyurl.com/n6kuk36
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November 26, 2013, 09:01:58 AM |
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Basecoin has successfully survived, has a very precious coin (because 1 block only has 1 coin), we are developing the official website of basecoin, wish more people will like basecoin because it can be the base of something.
Basecoin needs your attention!
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sheinsha
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November 27, 2013, 03:49:52 PM |
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Basecoin has successfully survived, has a very precious coin (because 1 block only has 1 coin), we are developing the official website of basecoin, wish more people will like basecoin because it can be the base of something.
Basecoin needs your attention!
This is great! Minar.cc Basecoin PPLNS Pool
I have setup a PPLNS Pool and its working fine, we have already found 5 blocks at the time of writing, so you are welcome to join and spread the network hashrate. Please let me know if you find anything out of normal, comments and suggestions also welcome! I have set pool fees to 1%, 60 block confirms for fast payouts, and only 0.01 BAC payout fee to pay the actual transaction fee. bac.minar.ccStart your miner using the following parameters: URL: | stratum+tcp://bac.minar.cc | PORT: | 3339 | USER: | username.worker | PASS: | workerPass |
Sample command-line: ./cgminer -o stratum+tcp://bac.minar.cc:3339 --scrypt -u username.worker -p workerPass VARDIFF + Stratum PPLNS Mining Pool up bac.minar.cc
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Minar.cc pools are not running anymore, the domain was registered by someone else and I don't have any relationship with the new owner.
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caihuii
Newbie
Offline
Activity: 19
Merit: 0
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November 27, 2013, 05:08:50 PM |
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the wallet can't work, 0 active connection to basecoin network
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meowmix4jo
Newbie
Offline
Activity: 29
Merit: 0
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November 28, 2013, 05:57:53 AM |
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I had to add nodes by hand. The one in the OP didn't work so I added the address of some of the pools.
addnode=216.24.205.232 addnode=216.155.151.242 addnode=116.226.16.77
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parsec
Newbie
Offline
Activity: 45
Merit: 0
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November 28, 2013, 10:30:01 PM |
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i'm quite new to cryptos and i don't know where to start but i'd like to put up a blockchain explorer so that i can understand better how the blockchain works. since i don't have a deep understanding of all of this where can i start? is there an howto? somebody would like to help? thanks
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basecoin (OP)
Member
Offline
Activity: 98
Merit: 10
Basecoin ANN THREAD: http://tinyurl.com/n6kuk36
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November 29, 2013, 08:57:52 AM |
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Now we have more add nodes for BaseCoin:
addnode=216.24.205.232 addnode=216.155.151.242 addnode=116.226.16.77
Can anyone help me to design a new logo for basecoin? It would be really very helpful.
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