[ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept

[Mivexil]

I'm the random guy!
The bug was in the GetBlockValue function. The problem was that the reward amount was determined by cutting by half the initial block reward every 250 blocks and the division was made by shifting the bits to the right. Doing this 64 times resetted the reward to the initial one. (I think using a normal division should solve the problem). I just watched the bitcoin source and it has the exact same problem. The difference is that bitcoin halves the reward every 210000 blocks instead of 250. So the reward will be resetted at block 13440000, when the number of the block divided by 210000 will be 64. I think we should tell them... but we have al lot of time to do it (we are at block 288372...)

But... but that makes no sense. If it's unsigned, then shifting to the right adds zero on the leftmost bit. Do it 64 times, and you end up with zeroes only.

EDIT: Aaah, int64_t. Nasty bug.

it happens also with int, unsigned , long (I just tested it)

Aaaah, it's even worse, shift by 64 bits. Good thing we didn't have demons flying out of our noses.

[1714766909]

1714766909

[1714766909]

1714766909

[1714766909]

1714766909

[_CR_]

So any word on what the problem was? was it a bug that will effect bitcoin as well in a few years? or was it a change made after the fork from bitcoin?

No, it was a bug of my own doing. I believe it is patched, and I'm testing it on an isolated blockchain. I believe everything is ok, But i want to mine more blocks on my testnet before I release the software.

Sorry to bump this from last month, but I have not kept up with the latest events.

What was the bug that allowed more coins to be mined?

Was there a detailed explanation in some post?

Please link of available.

Thanks!

There is some post about it several pages back, the exact location is unknown. The problem appears to exist in all coins. I have tested the anomaly under a number of different parameters and the result is the same. There is a mathematics error in the code where essentially the mining  rewards continue to reduce by half even beyond the 8th decimal. IE: even after the mining reward is cut in half down to 0.00000001 it continues to half even though the result cannot be seen. Eventually this causes a script error, and causes the block rewards to start over from the beginning. The easiest fix is a manual entry to tell the network to never produce coins after BLOCK # "X" ("X" will vary based on how the coin is set up.) I believe this error will effect most (if not all)  current bitcoin / altcoin forks. 

Wow! This is serious!


We need to make sure everybody in the crypto community knows about this, including the fact you/PMC found and fixed it.

I can't be 100% sure that all forks would suffer the same result, but I have enough reason to suspect it. And actually it was a random guy that spotted the error, we might be sitting here under different circumstances if it weren't for him. I merely patched it.

Could you maybe test the Bitcoin code and confirm whenever you have some time?

This would be a huge contribution of PMC if confirmed.

Yes, I have been meaning to do so, I simply haven't had time since things have been progressing so well with PMC. However, I fully intend to try it out of curiosity.

I'm the random guy!
The bug was in the GetBlockValue function. The problem was that the reward amount was determined by cutting by half the initial block reward every 250 blocks and the division was made by shifting the bits to the right. Doing this 64 times resetted the reward to the initial one. (I think using a normal division should solve the problem). I just watched the bitcoin source and it has the exact same problem. The difference is that bitcoin halves the reward every 210000 blocks instead of 250. So the reward will be resetted at block 13440000, when the number of the block divided by 210000 will be 64. I think we should tell them... but we have al lot of time to do it (we are at block 288372...)

You are an amazing person, and I cannot overstate my gratitude.

thanks 


ps: I don't wanna seem greedy but in my signature you can find my address 

[ctenc001]

So any word on what the problem was? was it a bug that will effect bitcoin as well in a few years? or was it a change made after the fork from bitcoin?

No, it was a bug of my own doing. I believe it is patched, and I'm testing it on an isolated blockchain. I believe everything is ok, But i want to mine more blocks on my testnet before I release the software.

Sorry to bump this from last month, but I have not kept up with the latest events.

What was the bug that allowed more coins to be mined?

Was there a detailed explanation in some post?

Please link of available.

Thanks!

There is some post about it several pages back, the exact location is unknown. The problem appears to exist in all coins. I have tested the anomaly under a number of different parameters and the result is the same. There is a mathematics error in the code where essentially the mining  rewards continue to reduce by half even beyond the 8th decimal. IE: even after the mining reward is cut in half down to 0.00000001 it continues to half even though the result cannot be seen. Eventually this causes a script error, and causes the block rewards to start over from the beginning. The easiest fix is a manual entry to tell the network to never produce coins after BLOCK # "X" ("X" will vary based on how the coin is set up.) I believe this error will effect most (if not all)  current bitcoin / altcoin forks. 

Wow! This is serious!


We need to make sure everybody in the crypto community knows about this, including the fact you/PMC found and fixed it.

I can't be 100% sure that all forks would suffer the same result, but I have enough reason to suspect it. And actually it was a random guy that spotted the error, we might be sitting here under different circumstances if it weren't for him. I merely patched it.

Could you maybe test the Bitcoin code and confirm whenever you have some time?

This would be a huge contribution of PMC if confirmed.

Yes, I have been meaning to do so, I simply haven't had time since things have been progressing so well with PMC. However, I fully intend to try it out of curiosity.

I'm the random guy!
The bug was in the GetBlockValue function. The problem was that the reward amount was determined by cutting by half the initial block reward every 250 blocks and the division was made by shifting the bits to the right. Doing this 64 times resetted the reward to the initial one. (I think using a normal division should solve the problem). I just watched the bitcoin source and it has the exact same problem. The difference is that bitcoin halves the reward every 210000 blocks instead of 250. So the reward will be resetted at block 13440000, when the number of the block divided by 210000 will be 64. I think we should tell them... but we have al lot of time to do it (we are at block 288372...)

You are an amazing person, and I cannot overstate my gratitude.

thanks 


ps: I don't wanna seem greedy but in my signature you can find my address 

Would be cool if we figured out a way to get media attention out of this. Proof that PMC is important to bitcoins future. Maybe get an interview stating how PMC has solved bitcoins problem years in advanced potentially preventing a catastrophic bug and potentially saving billions in damage.

[SlidingHorn]

Would be cool if we figured out a way to get media attention out of this. Proof that PMC is important to bitcoins future. Maybe get an interview stating how PMC has solved bitcoins problem years in advanced potentially preventing a catastrophic bug and potentially saving billions in damage.

I'll be writing an article about it tomorrow.  Just PMed OP & _CR_ to see if we can chat

[kbroadfoot]

Would be cool if we figured out a way to get media attention out of this. Proof that PMC is important to bitcoins future. Maybe get an interview stating how PMC has solved bitcoins problem years in advanced potentially preventing a catastrophic bug and potentially saving billions in damage.

I'll be writing an article about it tomorrow.  Just PMed OP & _CR_ to see if we can chat

This is very cool... The fact that PMC ran into this bug AND fixed it first says a lot about the 'experiment' doesn't it?

[ctenc001]

Would be cool if we figured out a way to get media attention out of this. Proof that PMC is important to bitcoins future. Maybe get an interview stating how PMC has solved bitcoins problem years in advanced potentially preventing a catastrophic bug and potentially saving billions in damage.

I'll be writing an article about it tomorrow.  Just PMed OP & _CR_ to see if we can chat

given that gtmox simply mentioned a bug that was already known about for over two years, and it cost bitcoin's marketcap to drop by nearly 4 billion dollars overnight, Just think about what kind of impact a bug like this could have had.

[coinnewbit]

Would be cool if we figured out a way to get media attention out of this. Proof that PMC is important to bitcoins future. Maybe get an interview stating how PMC has solved bitcoins problem years in advanced potentially preventing a catastrophic bug and potentially saving billions in damage.

I'll be writing an article about it tomorrow.  Just PMed OP & _CR_ to see if we can chat

given that gtmox simply mentioned a bug that was already known about for over two years, and it cost bitcoin's marketcap to drop by nearly 4 billion dollars overnight, Just think about what kind of impact a bug like this could have had.

Woah. Damn This coin is actually more important than I originally thought

[creditcoin_CRD]

Hashrate Spike Incoming

[budiartha]

Yes  in Primine........now go the top....yes.......

sorry my english is not good i use goggle translate........



1B68JGgayBWuSKeD5v9jUFsziwwZtkVXJH


thanks u ..........

[bmgbmg]

Could we get a list of top PMC wallets like Bitcoin?

I'm curious to see where all of the 499,000 PMC are now that I'm getting close to 1% of them.

[kbroadfoot]

I have 0.06 percent of them...

[kingscrown]

http://fuk.io/cryptocurrencies-to-invest-in-right-now/
ive posted it feb 05.

almnost all coins went be 100% - of course PMC too.
the blog has over 1k email subscribes een tho it has just 2 posts.

pass me some premines guys!

1BaJ9WHXEKJALRS6JRiv4AAHiPuDnL1gD7

[forzendiablo]

http://fuk.io/cryptocurrencies-to-invest-in-right-now/
ive posted it feb 05.

almnost all coins went be 100% - of course PMC too.
the blog has over 1k email subscribes een tho it has just 2 posts.

pass me some premines guys!

1BaJ9WHXEKJALRS6JRiv4AAHiPuDnL1gD7

yep seems u have good rep and good preditctions.
im following u on twitter now

[blueangel01]

Yay PMC... well i am holding 3700 PMC. I buy and sell 500 PMC once in a while to add volume trades (it helps PMC while making money).

[coinnewbit]

Yay PMC... well i am holding 3700 PMC. I buy and sell 500 PMC once in a while to add volume trades (it helps PMC while making money).

What?! How did you amass so much PMC?

[Triax]

So any word on what the problem was? was it a bug that will effect bitcoin as well in a few years? or was it a change made after the fork from bitcoin?

No, it was a bug of my own doing. I believe it is patched, and I'm testing it on an isolated blockchain. I believe everything is ok, But i want to mine more blocks on my testnet before I release the software.

Sorry to bump this from last month, but I have not kept up with the latest events.

What was the bug that allowed more coins to be mined?

Was there a detailed explanation in some post?

Please link of available.

Thanks!

There is some post about it several pages back, the exact location is unknown. The problem appears to exist in all coins. I have tested the anomaly under a number of different parameters and the result is the same. There is a mathematics error in the code where essentially the mining  rewards continue to reduce by half even beyond the 8th decimal. IE: even after the mining reward is cut in half down to 0.00000001 it continues to half even though the result cannot be seen. Eventually this causes a script error, and causes the block rewards to start over from the beginning. The easiest fix is a manual entry to tell the network to never produce coins after BLOCK # "X" ("X" will vary based on how the coin is set up.) I believe this error will effect most (if not all)  current bitcoin / altcoin forks. 

Wow! This is serious!


We need to make sure everybody in the crypto community knows about this, including the fact you/PMC found and fixed it.

I can't be 100% sure that all forks would suffer the same result, but I have enough reason to suspect it. And actually it was a random guy that spotted the error, we might be sitting here under different circumstances if it weren't for him. I merely patched it.

Could you maybe test the Bitcoin code and confirm whenever you have some time?

This would be a huge contribution of PMC if confirmed.

Yes, I have been meaning to do so, I simply haven't had time since things have been progressing so well with PMC. However, I fully intend to try it out of curiosity.

I'm the random guy!
The bug was in the GetBlockValue function. The problem was that the reward amount was determined by cutting by half the initial block reward every 250 blocks and the division was made by shifting the bits to the right. Doing this 64 times resetted the reward to the initial one. (I think using a normal division should solve the problem). I just watched the bitcoin source and it has the exact same problem. The difference is that bitcoin halves the reward every 210000 blocks instead of 250. So the reward will be resetted at block 13440000, when the number of the block divided by 210000 will be 64. I think we should tell them... but we have al lot of time to do it (we are at block 288372...)

You are an amazing person, and I cannot overstate my gratitude.

thanks 


ps: I don't wanna seem greedy but in my signature you can find my address 

That is awesome.

Sent you a little PMC

[BigBoy89]

I've installed Premine Wallet for Android and back up the keys, Anybody here know how to import that file (premine-wallet-keys-2014-03-01) to premine-qt?

[_CR_]

thanks 

ps: I don't wanna seem greedy but in my signature you can find my address 

That is awesome.

Sent you a little PMC

Same here

many many thanks to you both and the third donor (maybe creditcoin_CRD?)

[kbroadfoot]

http://fuk.io/cryptocurrencies-to-invest-in-right-now/
ive posted it feb 05.

almnost all coins went be 100% - of course PMC too.
the blog has over 1k email subscribes een tho it has just 2 posts.

pass me some premines guys!

1BaJ9WHXEKJALRS6JRiv4AAHiPuDnL1gD7

yep seems u have good rep and good preditctions.
im following u on twitter now

Made a little comment    Nice write up...

[Nullu]

Charts here: http://crypto-prices.com/PMC

This has been posted several times here now. We get it. Spam somewhere else.