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

[creditcoin_CRD]

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.  

[uasteel]

Coyote Wallstreet is getting the word out about the wallet!! I see I wasn't the only person to tweet the hell out of it to them lol.

[SlidingHorn]

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.  

This is why Premine is so awesome.  It's like having a crystal ball for the future failures / successes of Bitcoin itself.

You should send the foundation an invoice for your "consulting" / testing

[EcuaMobi]

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.

[SlidingHorn]

Coyote Wallstreet is getting the word out about the wallet!! I see I wasn't the only person to tweet the hell out of it to them lol.

Tweeted:  https://twitter.com/ryanhoover/status/439451347050430464

[Benezivas]

The price seems to be responding accordingly right now on poloniex

[Mivexil]

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.  

That's odd... I mean, correct me if I'm wrong, but shouldn't repeated halving eventually converge to zero by rounding in any sane decimal library?

[creditcoin_CRD]

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.

[creditcoin_CRD]

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.  

That's odd... I mean, correct me if I'm wrong, but shouldn't repeated halving eventually converge to zero by rounding in any sane decimal library?

One would think so, but that certainly didn't happen in our case.

I was able to repeat the error under different parameters, but I did use my own fork and simply made changes. If you took a fresh fork of bitcoin and ran it to the end it is indeed possible that it would not happen. 

[EcuaMobi]

Coyote Wallstreet is getting the word out about the wallet!! I see I wasn't the only person to tweet the hell out of it to them lol.

Tweeted:  https://twitter.com/ryanhoover/status/439451347050430464

An Android wallet that supports both Bitcoin AND Premine!

Mmmm that's not exactly true.

The app allows you to import BTC backups so you can have the same addresses for both BTC and PMC. But you do need both apps to send and receive both currencies.

I hope that Tweet doesn't mislead people.

[bmgbmg]

PMC is pumping on Polo.  

Get in the chatbox there.

[EcuaMobi]

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.

[shanent]

Coyote Wallstreet is getting the word out about the wallet!! I see I wasn't the only person to tweet the hell out of it to them lol.

This is new coyote address 1JeTNPd5JksUdSwwuevCeLv4Jt2VXCaugx

Be careful with donations, we would see before how he works for us

[Mivexil]

PMC is pumping on Polo.  

Get in the chatbox there.

Except it's not working (the chatbox, I mean, Poloniex seems okay).

Quite a pump that was. Now let's hope they'll have the sanity to sell higher than they've bought, unlike (apparently) the rest of the market...

And as for Coyote - I expect some FUD in the next few days. A sure sign to hold.

[Zzzack]

PMC is pumping on Polo.  

Get in the chatbox there.

Good buy support this morning

[creditcoin_CRD]

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.

[SlidingHorn]

An Android wallet that supports both Bitcoin AND Premine!

Mmmm that's not exactly true.

The app allows you to import BTC backups so you can have the same addresses for both BTC and PMC. But you do need both apps to send and receive both currencies.

I hope that Tweet doesn't mislead people.

damn...I tweeted a clarification.  Very few of my followers are into cryptos anyway, so I don't know how much good the tweet would do. 

They certainly don't hurt, though!

[bmgbmg]

Polo has some good PMC buy orders, too which we haven't seen.

[kbroadfoot]

My happy Android PMC address!

1McszUU4BpZnZxaodpJHSWokost5Tps8wM

Fill up my phone!

[shanent]

https://bitcointalk.org/index.php?topic=492544.0