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

[creditcoin_CRD]

I've increased my block rewards ten-fold; all rewards will be at least 0.001 PMC now, but because of how my script works the value also goes up by a Premoshi provided the network speed remains relatively constant. There's also some other factors that can increase the reward by many hundreds of Premoshis.

How does Premoshi sound for the smallest unit of PMC?  

@Ait: Arr.

Premoshi...sounds half way between a mosh pit and one of those cute little moshi monsters - Lol

Also Premite, Premini, Flecks, Prebit...

Prebit sounds quite good.

prebit is quite catchy.

[kbroadfoot]

Pro-Music-Coin

[Naturalmystic]

i have a usb block erupter that used to give me 333m/hs on btc that i aint using at the mo .... can it be used on pmc?

[kbroadfoot]

i have a usb block erupter that used to give me 333m/hs on btc that i aint using at the mo .... can it be used on pmc?

Yes you can!

[Naturalmystic]

thanks, i'll dig it out tomorrow and get it going

[bmgbmg]

PMC getting a lot of attention in the Polo chat room. 

It would be awesome if/when it makes it to Cryptsy.  It may just be the one coin they cannot destroy in value.

[creditcoin_CRD]

Please retweet this if possible:

https://twitter.com/preminer/status/439492614027751424

You can use this URL to link to the Android Wallet:
http://preminer.com

RT


good giveaway idea there!

[EcuaMobi]

Please retweet this if possible:

https://twitter.com/preminer/status/439492614027751424

You can use this URL to link to the Android Wallet:
http://preminer.com

RT


good giveaway idea there!

I should have quoted the Tweet:

The #Android #Premine Wallet is having great reviews. Get it here: http://preminer.com  Tweet your mobile address for 1 free coin!

[Mivexil]

Please retweet this if possible:

https://twitter.com/preminer/status/439492614027751424

You can use this URL to link to the Android Wallet:
http://preminer.com

RT


good giveaway idea there!

I should have quoted the Tweet:

The #Android #Premine Wallet is having great reviews. Get it here: http://preminer.com  Tweet your mobile address for 1 free coin!

How do you verify it's a mobile address? Maybe you should have made people rate the wallet on Google Play...

[EcuaMobi]

Please retweet this if possible:

https://twitter.com/preminer/status/439492614027751424

You can use this URL to link to the Android Wallet:
http://preminer.com

RT


good giveaway idea there!

I should have quoted the Tweet:

The #Android #Premine Wallet is having great reviews. Get it here: http://preminer.com  Tweet your mobile address for 1 free coin!

How do you verify it's a mobile address? Maybe you should have made people rate the wallet on Google Play...

I can't know for sure, unfortunately.

But rewarding to rate an app is against Google's policy. They could take the app down.

[creditcoin_CRD]

I only catch 5 PMC a day thru mining so I'm still spending about 150 PMC a week on my block rewarder.
My wallet runs stable now after a few tweaks to the script, gonna generate a new 'FREE' vanity address tho since the block explorer can't show it anymore.
Funny part is that I'm the one generating almost all of the 0.00 blocks, doesn't really matter if we start rewarding those

That's a lot of PMC to be giving away. Do you think it would have an impact if I matched that level for a few weeks? I can afford to, but obviously my supplies are finite as well. I could try it for a few weeks. Right now my payouts are around 0.0001, but I could up that to 0.001.

My fee is random for each transaction, between 0.01 and 0.0001
Actually it doesn't matter how high we set the fee on our block reward scripts, we fill the block and the 'real' transactions are the ones that have to pay a fee because we already boosted the size of the block.
The days my BR wasn't running and I assume yours neither, there were a lot of 0.00 blocks meaning the few transactions that were made, were free and that is what we need to avoid.
When my wallet runs out of PMC I'll start asking for donations it has 194 left

My rewarder script died and that's when it all went "0"

we were all apparently down at the same time

[creditcoin_CRD]

Please retweet this if possible:

https://twitter.com/preminer/status/439492614027751424

You can use this URL to link to the Android Wallet:
http://preminer.com

RT


good giveaway idea there!

I should have quoted the Tweet:

The #Android #Premine Wallet is having great reviews. Get it here: http://preminer.com  Tweet your mobile address for 1 free coin!

How do you verify it's a mobile address? Maybe you should have made people rate the wallet on Google Play...

I can't know for sure, unfortunately.

But rewarding to rate an app is against Google's policy. They could take the app down.

We def don't need that. .

[kbroadfoot]

This will require trust but.....

This is a cold wallet for PMC ( and BTC if you wish to donate but the BTC is all mine! )

1LottouYrsEtCEhjZEjVUJ8nxYxG2ADJqK

Send 0.1 PMC to that address. Pay attention to the transaction ID.... IF the first two digits and the last two digits are the SAME you win...
What do you win? only 50 percent. The other 50 percent is being sent to the faucet: http://faucet.premineco.in/

No, I am NOT a computer geek... I need you to tell me you have won... I will go to the block explorer and verify...
Please just message me...

I can only pay you from the address the 0.1 was sent from... that means you MUST use the PMC wallet. I can't send the money back to an exchange address...

If you send MORE than 0.1 it simply goes into the funds for the prize and faucet...
If you send less that 0.1    I will not count it as an entry... But it will ALSO go into the prize pool...

I will make nothing off of this.... but hopefully the faucet will... and one lucky person....

Odds are 1/256  to match first and last two digits...

Thanks

So far so good...
http://blockchain.premineco.in/address/1LottouYrsEtCEhjZEjVUJ8nxYxG2ADJqK

11.4 PMC so far

0.1 to the address: 1LottouYrsEtCEhjZEjVUJ8nxYxG2ADJqK    ( wallet ONLY, not exchange )
Match first 2 and last 2 digits of transaction ID and MESSAGE ME....

50 percent to you and 50 percent to the faucet...

No winners yet! Just match the first two digits and the last two digits of the TX ID and you win!
And now you can fire the 0.1 PMC with your android phone!
Again check the transaction ID:  match first two and last two you win... message me! ( In the forum is okay )

Also please donate some PMC to http://seansoutpost.com
One of the most respected charities in the Bitcoin world... our donations are good for PMC.

Look for the PMC address under the donations link...

[Mivexil]

Please retweet this if possible:

https://twitter.com/preminer/status/439492614027751424

You can use this URL to link to the Android Wallet:
http://preminer.com

RT


good giveaway idea there!

I should have quoted the Tweet:

The #Android #Premine Wallet is having great reviews. Get it here: http://preminer.com  Tweet your mobile address for 1 free coin!

How do you verify it's a mobile address? Maybe you should have made people rate the wallet on Google Play...

I can't know for sure, unfortunately.

But rewarding to rate an app is against Google's policy. They could take the app down.

Oh, unless it's that way. I've seen apps giving out in-game currency for a review, but I guess that's another matter.

[_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...)

[kbroadfoot]

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...)

Eh, the world may be needing an influx of Bitcoins by the year 2160... probably can just ignore it    ( kidding of course )

[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.

EDIT2: Shift by 64 or more bits, even nastier bug.

[uasteel]

PMC chatter going nuts on Poloniex right now, and the price is climbing!!!

[_CR_]

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)

[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.

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.