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suremine
Newbie
 Offline
Activity: 25
Merit: 0
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April 22, 2014, 07:03:00 PM |
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Happy 420! 0% Fees at the SureMine PotCoin Poolhttps://pot.suremine.comRunning at 97.41% efficiencyWe are a team of Enterprise Linux Architects and Pen-Testers who have built our own enterprise grade potcoin mining pool. Pool Features:Multiple layers of DDOS protection. Multiple layers of Server Security. 24/7 Support. Full SSL. Clean Secure Architecture. Enterprise Cloud hosting. Environment extensively tested and documented. Off-Site Enterprise Monitoring + Log Assessment. Join now: https://pot.suremine.com |
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dogechode
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April 22, 2014, 07:21:36 PM |
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So again I ask... has there been a wallet update to patch the OpenSSL / heartbleed exploit or not?
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suremine
Newbie
Offline
Activity: 25
Merit: 0
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April 22, 2014, 07:31:29 PM |
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Not that I know of, the wallet was patched for an issue with Kimoto, I always ensure I am running the latest wallet but have nothing about a heartbleed patch.
From a pool side of things I have upgraded SSL on all my servers, the communication to the wallet is handled internally so no risk.
Make sure you are running the latest version of the wallet, update everything that touches your wallet and don't trust exchanges or pools that haven't explicitly explained their position on heartbleed.
In addition I would advise changing your passwords.
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vesperwillow
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April 22, 2014, 11:06:54 PM |
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Looks like an active push to drop the value on Cryptsy, and/or idiots just auto-selling and not caring about the value. Take a look.
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dwolfx
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April 23, 2014, 01:48:38 AM
Last edit: April 23, 2014, 01:59:01 AM by dwolfx |
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It's not a bad review, its just an honest review. Potcoin still needs a lot in ways of development and implementation, its still very much the early stages for this coin. It has a few hurdles in the sense that it hasn't really done much new in the ways of improving upon the standard scrypt algo, but that scoring based on the algo itself isn't really that fair, since more or less the negative scrore could of been avoided simply by choosing a different algo for no reason (like scrypt jane or N-Factor or w.e). The innovation in Algos has primarily been geared towards escaping ASICS (the entire point scrypt was created in the first place). Now that scrypt Asics are all over-the place, scrypt in essence seems "pointless". Things potcoin could do to improve its score -X11/Jane/N-Factor (this would quelm the complaints that Potcoin isn't "innovative" enough. -Keep improving/developing the Android/Mobile Wallets to make them safer more secure and easier to use/more robust/trust worthy. -Add some kind of encrypted texting to the android wallet of sorts, nothing screams potcoin like being able to text people you want to buy weed off of anonymously lol The entire point of crypto is: -Anti Govt -Anti Banks -Anti Mega Banker dude buying Asics and owning the universe -Anti Obama NSA SPY Agency reading your texts and browsing your transactions Coins that do not embrace those ideals will not last IMO. IMO Potcoin has essentially been over-run with ASICS , and lets face it, anyone that dumped money into Asics mines scrypt coins at a very low cost (per KW) so they have A LOT of incentive to dump. The best way to preserve a coins value is to keep it away from cheap per k/w $ mining rigs, as the cost of the mining operation will drive the price up. That is why coins that cost more to mine, are worth more and coins you can mine with ASICS are worth less, that is why BITCOIN continues to go down in value, because it costs around 20$ to mine a bitcoin that can be sold for almost 500$ (the natural market pressures will make price come down towards cost of production). ASK yourself this, with an ASIC how much does it cost to mine a single Pot Coin, is the current price of potcoin justified ?  I mine Potcoin with ASICS it costs me nothing to mine Pot, I would gladly turn off My ASICS and mine Pot-Coin with GPUS if given the chance, but it is not cost effective/worth it, but if it was the only way to mine Pot the dumping would surely cease. Quickest way to make Pot go up in value is -> X11 / Jane / N-Factor (raise cost of production) |
Leetpools!
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vesperwillow
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April 23, 2014, 01:55:25 AM |
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Algo won't matter in the long run for a coin which is for transaction purposes, especially with the multi-algo ASIC systems already prepping in the design phase. Scrypt was just 2nd generation ASIC. Escaping ASIC is impossible, a delay perhaps, but continually evolving the algo is moot.
Potcoin needs to establish its roots and branch out via use.
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sirsmokesalot
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April 23, 2014, 02:05:57 AM |
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Why is everyone so afraid of Asics again? Aren't they the reason bitcoin is worth what it is today? Am i missing something?
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dwolfx
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April 23, 2014, 02:35:33 AM |
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Why is everyone so afraid of Asics again? Aren't they the reason bitcoin is worth what it is today? Am i missing something?
Asics did not make bitcoin worth more, Asics came in after bitcoin was already worth something. Speculation and an economy on the brink of collapse scaring people into whatever random investment they could find that is new and innovative made bitcoin worth what it is today, asics are just vultures circling and eating value. I would argue, Asics are partly responsible for driving the price of BTC down 50% from the high. |
Leetpools!
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Chronikka
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April 23, 2014, 02:36:09 AM |
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It's not a bad review, its just an honest review. Potcoin still needs a lot in ways of development and implementation, its still very much the early stages for this coin. It has a few hurdles in the sense that it hasn't really done much new in the ways of improving upon the standard scrypt algo, but that scoring based on the algo itself isn't really that fair, since more or less the negative scrore could of been avoided simply by choosing a different algo for no reason (like scrypt jane or N-Factor or w.e). The innovation in Algos has primarily been geared towards escaping ASICS (the entire point scrypt was created in the first place). Now that scrypt Asics are all over-the place, scrypt in essence seems "pointless". Things potcoin could do to improve its score -X11/Jane/N-Factor (this would quelm the complaints that Potcoin isn't "innovative" enough. -Keep improving/developing the Android/Mobile Wallets to make them safer more secure and easier to use/more robust/trust worthy. -Add some kind of encrypted texting to the android wallet of sorts, nothing screams potcoin like being able to text people you want to buy weed off of anonymously lol The entire point of crypto is: -Anti Govt -Anti Banks -Anti Mega Banker dude buying Asics and owning the universe-Anti Obama NSA SPY Agency reading your texts and browsing your transactions Coins that do not embrace those ideals will not last IMO. IMO Potcoin has essentially been over-run with ASICS , and lets face it, anyone that dumped money into Asics mines scrypt coins at a very low cost (per KW) so they have A LOT of incentive to dump. The best way to preserve a coins value is to keep it away from cheap per k/w $ mining rigs, as the cost of the mining operation will drive the price up. That is why coins that cost more to mine, are worth more and coins you can mine with ASICS are worth less, that is why BITCOIN continues to go down in value, because it costs around 20$ to mine a bitcoin that can be sold for almost 500$ (the natural market pressures will make price come down towards cost of production). ASK yourself this, with an ASIC how much does it cost to mine a single Pot Coin, is the current price of potcoin justified ? I mine Potcoin with ASICS it costs me nothing to mine Pot, I would gladly turn off My ASICS and mine Pot-Coin with GPUS if given the chance, but it is not cost effective/worth it, but if it was the only way to mine Pot the dumping would surely cease. Quickest way to make Pot go up in value is -> X11 / Jane / N-Factor (raise cost of production) I have to disagree. Your premise is that ASICs are bad because somebody can swoop in and buy a bunch of hash power to dominate the network. Highlighted in bold above. What is stopping the same person from buying a bunch of GPUs, or a bunch of CPUs to do the same thing on a different algorithm? Nothing. Its all just dollars to an investor, they don't care what the hardware looks like. ASICs protect our network by ensuring its network hash power can never be compromised. They are designed for a single purpose, mining SHA256, scrypt, etc. which means you can't just re-purpose existing technology (ahem...GPUs, CPUs, etc) to defeat the network. You have to build something to do it. That costs money. The higher the network hash rate the more money it will ultimately cost. There are a number of sites that attempt to estimate the cost to 51% attack the Bitcoin network. Nobody really knows the cost but these are decent estimates. And its a lot less than you think: http://www.youtube.com/watch?v=bi2thGzzNSshttp://www.coinometrics.com/bitcoin/brixSomebody, or more likely a group of somebody's could potentially pull off a 51% attack of the Bitcoin network, with enough cash. And something worth pointing out, is that you don't actually need 51% of network hash power to fork a coin. It simply guarantees it. There have been reasonable estimates that claim it can be done with decent probablity with as little as 35-40% And thats Bitcoin. The supposedly untouchable, Bitcoin. How easy would it be to fork and obliterate a small coin. So all of that being said we need lots of and lots of hash power. How do we get it cheaply and cost effectively? ASICs. Plain and simple. An R9 270 GPU mines at 450 kh/s and draws 150 watts. A gridseed 5 chip asic mines at 350 kh/s and draws a whopping 7 watts. Thats right...7 watts. And they are getting even more efficient. Not to mention they now cost less and are dropping fast. Instead of complaining about ASICs, go buy some. Help us improve our network. We can't have warehouses full of GPUs and inefficient CPUs wasting energy. |
"The true sign of intelligence is not knowledge but imagination" -Albert Einstein
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dwolfx
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April 23, 2014, 02:40:09 AM |
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It's not a bad review, its just an honest review. Potcoin still needs a lot in ways of development and implementation, its still very much the early stages for this coin. It has a few hurdles in the sense that it hasn't really done much new in the ways of improving upon the standard scrypt algo, but that scoring based on the algo itself isn't really that fair, since more or less the negative scrore could of been avoided simply by choosing a different algo for no reason (like scrypt jane or N-Factor or w.e). The innovation in Algos has primarily been geared towards escaping ASICS (the entire point scrypt was created in the first place). Now that scrypt Asics are all over-the place, scrypt in essence seems "pointless". Things potcoin could do to improve its score -X11/Jane/N-Factor (this would quelm the complaints that Potcoin isn't "innovative" enough. -Keep improving/developing the Android/Mobile Wallets to make them safer more secure and easier to use/more robust/trust worthy. -Add some kind of encrypted texting to the android wallet of sorts, nothing screams potcoin like being able to text people you want to buy weed off of anonymously lol The entire point of crypto is: -Anti Govt -Anti Banks -Anti Mega Banker dude buying Asics and owning the universe-Anti Obama NSA SPY Agency reading your texts and browsing your transactions Coins that do not embrace those ideals will not last IMO. IMO Potcoin has essentially been over-run with ASICS , and lets face it, anyone that dumped money into Asics mines scrypt coins at a very low cost (per KW) so they have A LOT of incentive to dump. The best way to preserve a coins value is to keep it away from cheap per k/w $ mining rigs, as the cost of the mining operation will drive the price up. That is why coins that cost more to mine, are worth more and coins you can mine with ASICS are worth less, that is why BITCOIN continues to go down in value, because it costs around 20$ to mine a bitcoin that can be sold for almost 500$ (the natural market pressures will make price come down towards cost of production). ASK yourself this, with an ASIC how much does it cost to mine a single Pot Coin, is the current price of potcoin justified ? I mine Potcoin with ASICS it costs me nothing to mine Pot, I would gladly turn off My ASICS and mine Pot-Coin with GPUS if given the chance, but it is not cost effective/worth it, but if it was the only way to mine Pot the dumping would surely cease. Quickest way to make Pot go up in value is -> X11 / Jane / N-Factor (raise cost of production) I have to disagree. Your premise is that ASICs are bad because somebody can swoop in and buy a bunch of hash power to dominate the network. Highlighted in bold above. What is stopping the same person from buying a bunch of GPUs, or a bunch of CPUs to do the same thing on a different algorithm? Nothing. Its all just dollars to an investor, they don't care what the hardware looks like. A billionare would not swoop in and buy GPUS, because the scarcity of GPUS + the setup costs + the time invested + the man power he would have to hire to maintain a large farm + costs of space and k/w would scare him out of it/prevent him from making a farm big enough to make an impactASICs protect our network by ensuring its network hash power can never be compromised. They are designed for a single purpose, mining SHA256, scrypt, etc. which means you can't just re-purpose existing technology (ahem...GPUs, CPUs, etc) to defeat the network. You have to build something to do it. That costs money. The higher the network hash rate the more money it will ultimately cost. Asics secure the network, while raping the coin of value at the same time, all coins will trend toward the cost of production, if it costs 15$ to mine a single bitcoin, then eventually a single bitcoin will be worth...15~20$There are a number of sites that attempt to estimate the cost to 51% attack the Bitcoin network. Nobody really knows the cost but these are decent estimates. And its a lot less than you think: http://www.youtube.com/watch?v=bi2thGzzNSshttp://www.coinometrics.com/bitcoin/brixSomebody, or more likely a group of somebody's could potentially pull off a 51% attack of the Bitcoin network, with enough cash. And something worth pointing out, is that you don't actually need 51% of network hash power to fork a coin. It simply guarantees it. There have been reasonable estimates that claim it can be done with decent probablity with as little as 35-40% And thats Bitcoin. The supposedly untouchable, Bitcoin. How easy would it be to fork and obliterate a small coin. So all of that being said we need lots of and lots of hash power. How do we get it cheaply and cost effectively? ASICs. Plain and simple. An R9 270 GPU mines at 450 kh/s and draws 150 watts. A gridseed 5 chip asic mines at 350 kh/s and draws a whopping 7 watts. Thats right...7 watts. And they are getting even more efficient. Not to mention they now cost less and are dropping fast. Instead of complaining about ASICs, go buy some. Help us improve our network. We can't have warehouses full of GPUs and inefficient CPUs wasting energy. Eventually ASIC tech will be out there that will concentrate A LOT of hash in VERY FEW HANDS, and then we will be back to square one (central bank). The best hope is an ALGO that adapts to the hash and responds by scaling the amount of RAM required to run the algo to prevent a central power from dumping a billion dollars into a chip that can match the hash of the entire network for 100watts. |
Leetpools!
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Chronikka
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April 23, 2014, 02:48:52 AM |
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Eventually ASIC tech will be out there that will concentrate A LOT of hash in VERY FEW HANDS, and then we will be back to square one (central bank).
The best hope is an ALGO that adapts to the hash and responds by scaling the amount of RAM required to run the algo to prevent a central power from dumping a billion dollars into a chip that can match the hash of the entire network for 100watts.
How? Who is developing this all mighty ASIC tech? And what is to stop them from doing the same thing to any other algorithm? Memory is dirt cheap. Memory was supposed to be the reason ASICs couldn't mine scrypt. Oops. Bitcoin is open source and it uses protocol SHA256. Anybody is free to develop their own ASIC or new crazy futuristic chip to mine on the network. That is what an open market means. Changing the algorithm just sets the game back a few years so you and and a handful of others can hold onto your obsolete technology. |
"The true sign of intelligence is not knowledge but imagination" -Albert Einstein
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sirsmokesalot
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April 23, 2014, 02:55:06 AM |
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It's not a bad review, its just an honest review. Potcoin still needs a lot in ways of development and implementation, its still very much the early stages for this coin. It has a few hurdles in the sense that it hasn't really done much new in the ways of improving upon the standard scrypt algo, but that scoring based on the algo itself isn't really that fair, since more or less the negative scrore could of been avoided simply by choosing a different algo for no reason (like scrypt jane or N-Factor or w.e). The innovation in Algos has primarily been geared towards escaping ASICS (the entire point scrypt was created in the first place). Now that scrypt Asics are all over-the place, scrypt in essence seems "pointless". Things potcoin could do to improve its score -X11/Jane/N-Factor (this would quelm the complaints that Potcoin isn't "innovative" enough. -Keep improving/developing the Android/Mobile Wallets to make them safer more secure and easier to use/more robust/trust worthy. -Add some kind of encrypted texting to the android wallet of sorts, nothing screams potcoin like being able to text people you want to buy weed off of anonymously lol The entire point of crypto is: -Anti Govt -Anti Banks -Anti Mega Banker dude buying Asics and owning the universe-Anti Obama NSA SPY Agency reading your texts and browsing your transactions Coins that do not embrace those ideals will not last IMO. IMO Potcoin has essentially been over-run with ASICS , and lets face it, anyone that dumped money into Asics mines scrypt coins at a very low cost (per KW) so they have A LOT of incentive to dump. The best way to preserve a coins value is to keep it away from cheap per k/w $ mining rigs, as the cost of the mining operation will drive the price up. That is why coins that cost more to mine, are worth more and coins you can mine with ASICS are worth less, that is why BITCOIN continues to go down in value, because it costs around 20$ to mine a bitcoin that can be sold for almost 500$ (the natural market pressures will make price come down towards cost of production). ASK yourself this, with an ASIC how much does it cost to mine a single Pot Coin, is the current price of potcoin justified ? I mine Potcoin with ASICS it costs me nothing to mine Pot, I would gladly turn off My ASICS and mine Pot-Coin with GPUS if given the chance, but it is not cost effective/worth it, but if it was the only way to mine Pot the dumping would surely cease. Quickest way to make Pot go up in value is -> X11 / Jane / N-Factor (raise cost of production) I have to disagree. Your premise is that ASICs are bad because somebody can swoop in and buy a bunch of hash power to dominate the network. Highlighted in bold above. What is stopping the same person from buying a bunch of GPUs, or a bunch of CPUs to do the same thing on a different algorithm? Nothing. Its all just dollars to an investor, they don't care what the hardware looks like. ASICs protect our network by ensuring its network hash power can never be compromised. They are designed for a single purpose, mining SHA256, scrypt, etc. which means you can't just re-purpose existing technology (ahem...GPUs, CPUs, etc) to defeat the network. You have to build something to do it. That costs money. The higher the network hash rate the more money it will ultimately cost. There are a number of sites that attempt to estimate the cost to 51% attack the Bitcoin network. Nobody really knows the cost but these are decent estimates. And its a lot less than you think: http://www.youtube.com/watch?v=bi2thGzzNSshttp://www.coinometrics.com/bitcoin/brixSomebody, or more likely a group of somebody's could potentially pull off a 51% attack of the Bitcoin network, with enough cash. And something worth pointing out, is that you don't actually need 51% of network hash power to fork a coin. It simply guarantees it. There have been reasonable estimates that claim it can be done with decent probablity with as little as 35-40% And thats Bitcoin. The supposedly untouchable, Bitcoin. How easy would it be to fork and obliterate a small coin. So all of that being said we need lots of and lots of hash power. How do we get it cheaply and cost effectively? ASICs. Plain and simple. An R9 270 GPU mines at 450 kh/s and draws 150 watts. A gridseed 5 chip asic mines at 350 kh/s and draws a whopping 7 watts. Thats right...7 watts. And they are getting even more efficient. Not to mention they now cost less and are dropping fast. Instead of complaining about ASICs, go buy some. Help us improve our network. We can't have warehouses full of GPUs and inefficient CPUs wasting energy. That just has to be said again |
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dwolfx
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April 23, 2014, 02:56:17 AM |
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Eventually ASIC tech will be out there that will concentrate A LOT of hash in VERY FEW HANDS, and then we will be back to square one (central bank).
The best hope is an ALGO that adapts to the hash and responds by scaling the amount of RAM required to run the algo to prevent a central power from dumping a billion dollars into a chip that can match the hash of the entire network for 100watts.
How? Who is developing this all mighty ASIC tech? And what is to stop them from doing the same thing to any other algorithm? Memory is dirt cheap. Memory was supposed to be the reason ASICs couldn't mine scrypt. Oops. Bitcoin is open source and it uses protocol SHA256. Anybody is free to develop their own ASIC or new crazy futuristic chip to mine on the network. That is what an open market means. Changing the algorithm just sets the game back a few years so you and and a handful of others can hold onto your obsolete technology. I don't understand, what the point of a decentralized currency is then, if we are simply to hand it over to a centralized authority all over again? it would simply endup as another FIAT system where the 1% have complete control of the network and thus the ledger and ability to edit the ledger at will. I already Have ASICS and I am anti ASIC I have 20MH in ASICS, and about 32 MH in GPUS, MY GPUS STILL PULL IN MORE$$$ than my ASICS so I don't really care much about the current state of ASICS, its more a philosophical issue for me than money, since i don't need the money. All i am saying is, atleast for me, I have my ASICS ON POTCOINS and I use those asics to mine coins I pretty much intend to dump (because of the low kw/cost). The coins I mine with GPUS, I really don't dump as often and I SEE THE GPU COINS HOLDING MORE VALUE. EVERYTIME there is a slight run in the price of any ASIC coin i mine, I am forced to dump, as I KNOW that once it breaches a threshold of $$$/perKW invested, everyone else will ALSO DUMP. which means ASICS put a HARD-CAP on the price any normal scrypt coin could ever reach (a % above KW invested). GPU coins have better scarcity, hold more value and are more decentralized. to me thats a win, win, win, and IMO they are more resistant to 51% attacks in general and they are more multipool resistant due to the fact that each rig needs a bit more special attention to maintain. The best coin in 2014~2020, WILL BE the coin that manages to fuse the best decentralization strategy, with the best marketing strategy. Thats the coin I want to be invested in with my KW/H$ for the long-term. Potcoin has potential on the marketing front, which is why I hold about 50% of what I mine. |
Leetpools!
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vesperwillow
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April 23, 2014, 03:45:38 AM |
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GPU coins have better scarcity, hold more value and are more decentralized. to me thats a win, win, win, and IMO they are more resistant to 51% attacks in general and they are more multipool resistant due to the fact that each rig needs a bit more special attention to maintain. I would say this doesn't hold true to the coins with super low total coins such as Duck or 42 coin or the other coins of that nature. Scarcity in an age where you can use technology to overcome, is only synthetic and temporary. What you're seeing is the 'eventual end of a pointless coin' just come far quicker. It was inevitable. By your argument, Litecoin shouldn't be worth anything, but it's held. Hashpower = strength, security, reliability. Value is based on what people place it at, afterall the coin is merely a transport mechanism with no inherent worth. The best coin in 2014~2020, WILL BE the coin that manages to fuse the best decentralization strategy, with the best marketing strategy.
The best coin will be the one(s) adopted worldwide and used as often, or more than, cash or credit transactions, or to fill niches which can't be filled by those methods. Until then, all coin technologies and projects are merely attempts to really hit the launchpad just right. Potcoin has a niche. It needs to really take hold. |
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clapperhead
Member
Offline
Activity: 103
Merit: 10
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April 23, 2014, 03:50:10 AM |
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In all these posts about how to make this coin successful with it's technology, I'm not reading something like... I can't buy anything but Bitcoin with Potcoin (excluding other crypto), but I can buy goods and services with Bitcoin. Why bother with Potcoin if it can't be used as a currency? This will be answered with "well, when it matures and the community promotes it and we get retailers to start accepting it...". Not seeing that but plenty about SHA, Scrypt, this pool, that exchange. Nothing about this or that retailer/service accepting Potcoin. Again, why bother when Bitcoin is already the standard and being used?
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