[ANN] ★★ EBT Coin - Entropybit 100% PoS - Multipool - Bugfix version 4.0.3! ★★

[Jonesd]

As of blade, the crypto has not taken off, and will never take off (there'll be no inverters seeing it's 100% interest rate or 100% inflation a year) and PPC will die someday.

You just spammed this thread with text from your blog, which doesn't contain any data to support your claims.

I have some blade and it's a slow starter, but pretty solid, indeed.

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[EBT]

PoS Switchover is Now Set to Block 310,000

The EBT development team has decided, based on yesterday's DDOS attack, to move the PoS switchover up to block 310,000. The principal reason for moving the switchover from 400,000 is that it will require another five or six weeks to mine blocks 300,000 to 400,000. This time will allow perhaps a dozen successful DDOS attacks on EBT servers, targeting the PoW functionality we seek to end. We therefore want to reduce this time by moving the switchover up to 310,000.

A full rationale for the early switchover is given below.


Downloads

Source: https://github.com/argakiig/EBT

Windows Binaries:
Auto Install: https://drive.google.com/file/d/0BwGL9FkcBurEcDRCeXloZHg0MEU/edit?usp=sharing
Virus Total http://tinyurl.com/kxdau8h (0/52)

Manual Install: https://drive.google.com/file/d/0BwGL9FkcBurEX0ZTZ0xBbnlLQ28/edit?usp=sharing
Virus Total http://tinyurl.com/mevwy5p (0/51)


OSX Wallet:
Disk Image: https://drive.google.com/file/d/0B8rWObF4xz1Ybk40bTZncV8zWTg/edit?usp=sharing
Virus Total http://tinyurl.com/ml33tz2 (0/52)



Premine Considerations

Using the same analysis given earlier, we estimate that the value of the remaining premine will increase by about $4 from this decision. A quick way to arrive at this estimate is to note that each halving period is equal in PoW reward to all of the periods that follow, doubling the previously estimated increase.


DDOS Attacks

We believe that the EBT network has sustained numerous, if not continual attack since the morning of April 25. We surmise, based on analysis of the block chain, that these attacks are directed at servers and are executed by flooding the servers with bad blocks. In our model, the attackers hope that a server will accept one or several bad blocks and subsequently get banned when trying to broadcast these blocks to the server's peers.

Figure 1 shows our model for the effects of these DDOS attacks, using actual data from the EBT block chain. In this figure, the blue line represents PoW difficulty. Superposed on this line are blue pluses and red exes that represent PoW and PoS blocks, respectively. The results of a successful attack first manifest as a long series of uninterrupted PoS blocks (red exes that appear as horizontal red bars) that terminate with PoW blocks, probably found by solo miners. Once this block is found, the PoW difficulty retargets at a very low value causing PoW blocks to be found very rapidly. A closeup of the Figure 1 area labeled "PoW Suspended (Server Ban)" is shown in Figure 2.

We believe that PoW blocks stop during a successful DDOS event because the mining pools get banned from the rest of the network, and are unable to submit PoW blocks from miners. The mining pools then get on their own orphan chains. After the first PoW block is found in a DDOS event, the subsequent exceedingly fast blocks cause highly connected nodes, like mining pools, to crash from I/O errors.

Fortunately, the correct block chain for EBT is maintained safely by the majority of PoS minters, who are immune from concentrated attacks. Thus, even though pools and other highly connected nodes may abandon the correct chain, the servers eventually can be synchronized after the DDOS event has ended.


Figure 1: Anatomy of a DDOS Attack




Figure 2: Closeup of the Start of a DDOS Event

[Jonesd]

PoS Switchover is Now Set to Block 310,000

The EBT development team has decided, based on yesterday's DDOS attack, to move the PoS switchover up to block 310,000. The principal reason for moving the switchover from 400,000 is that it will require another five or six weeks to mine blocks 300,000 to 400,000. This time will allow perhaps a dozen successful DDOS attacks on EBT servers, targeting the PoW functionality we seek to end. We therefore want to reduce this time by moving the switchover up to 310,000.

A full rationale for the early switchover is given below.


Downloads

Source: https://github.com/argakiig/EBT

Windows Binaries:
Auto Install: https://drive.google.com/file/d/0BwGL9FkcBurEcDRCeXloZHg0MEU/edit?usp=sharing
Virus Total http://tinyurl.com/kxdau8h (0/52)

Manual Install: https://drive.google.com/file/d/0BwGL9FkcBurEX0ZTZ0xBbnlLQ28/edit?usp=sharing
Virus Total http://tinyurl.com/mevwy5p (0/51)


OSX Wallet:
Disk Image: https://drive.google.com/file/d/0B8rWObF4xz1Ybk40bTZncV8zWTg/edit?usp=sharing
Virus Total http://tinyurl.com/ml33tz2 (0/52)



Premine Considerations

Using the same analysis given earlier, we estimate that the value of the remaining premine will increase by about $4 from this decision. A quick way to arrive at this estimate is to note that each halving period is equal in PoW reward to all of the periods that follow, doubling the previously estimated increase.


DDOS Attacks

We believe that the EBT network has sustained numerous, if not continual attack since the morning of April 25. We surmise, based on analysis of the block chain, that these attacks are directed at servers and are executed by flooding the servers with bad blocks. In our model, the attackers hope that a server will accept one or several bad blocks and subsequently get banned when trying to serve these blocks to the server's peers.

Figure 1 shows our model for the effects of these DDOS attacks. In this figure, the thick blue line represents PoW difficulty. Superposed on this line are blue pluses and red exes that represent PoW and PoS blocks, respectively. The results of a successful attack first manifest as a long series of uninterrupted PoS blocks (horizontal red bars) that terminate with PoW blocks, probably found by solo miners. Once this block is found, the PoW difficulty retargets at a very low value causing PoW blocks to be found very rapidly. A closeup of the Figure 1 area labeled "PoW Suspended (Server Ban)" is shown in Figure 2.

We believe that PoW blocks stop during a successful DDOS event because the mining pools get banned from the rest of the network, and are unable to submit PoW blocks from miners. The mining pools then get on their own orphan chains. After the first PoW block is found in a DDOS event, the subsequent exceedingly fast blocks cause highly connected nodes, like mining pools, to crash from I/O errors.

Fortunately, the correct block chain for EBT is maintained safely by the majority of PoS minters, who are immune from concentrated attacks. Thus, even though pools and other highly connected nodes may abandon the correct chain, the servers eventually be synchronized after the DDOS event has ended.


Figure 1: Anatomy of a DDOS Attack




Figure 2: Closeup of the Start of a DDOS Event

Understandable. What will this mean for the total amount of coins? (still says 250 million in opening post)

Another question: Why are people doing these attacks?

[EBT]

Another question: Why are people doing these attacks?

That's a good question. The most likely explanation for specifically targeting servers (mining pools) is to remove a lot of competition all at once. It doesn't take many hashes to have a successful attack because the attack is concentrated. The idea is probably to remove the servers and then be the only one hashing when the solo block is found. At that point the attacker can mine hundreds of blocks before the pools recover.

[dE_logics]

As of blade, the crypto has not taken off, and will never take off (there'll be no inverters seeing it's 100% interest rate or 100% inflation a year) and PPC will die someday.

You just spammed this thread with text from your blog, which doesn't contain any data to support your claims.

Well actually I have evidence.

There are only 6 or 7 PoS coins coins in the top 50 cryptos (and even less in the top 100), only HoboNickels gives 100% interest rate, the second highest being mintcoin.

As of peercoin, the PoS difficulty is 10, while PoW difficulty 154,904,621.505. Clearly, PoW save PPC from a 51%. And the moment people realize mutual fund schemes give many times better returns, they'll dump PPC for it. So actually, it's surprising why people are still holding PPC for it's negligible interest rate. I would like to learn.

Even HoboNickels, which has a return of 100% a year, has PoW difficulty of 10, and PoS difficulty of 0.003. Speaking of which it's peak has arrived, and never see it's peak again even if the dev is active (it wont die -- but it wont go as high).

Even mintcoin (100% PoS) has a difficulty of 0.243. It provides 0% protection and 20% interest rate.

[voluntarist500]

some ebt-millionaire should buy some cryptsypoints and move it up the list to get some liquidity into ebt. That would be nice.

[spartak_t]

some ebt-millionaire should buy some cryptsypoints and move it up the list to get some liquidity into ebt. That would be nice.

I believe that Cryptsy will add EBT in 1-2 months anyway.

[Djinou94]

Yeah EBT in POS with a multipool! Then the price will rise!

[spartak_t]

idk about Cryptsy and Multipools, but I have send 700k EBT to Poloniex hours ago. 1 hour after I send them, Poloniex frozed EBT market. Transaction is confirmed in my (latest) wallet, but still no coins...

[dE_logics]

Someone stop these poor desperate nerds from selling EBT at 0.00000067, 0.00000070, 0.00000071, 0.00000072 and look at the quantity 0.000x, 0.00x etc...

They're desperate for women, desperate for fame and now it's clear they're desperate for even the slightest amount of money. But in the mean time they make a bad day for other not-desperate people and miners.

[sellbuy]

Another question: Why are people doing these attacks?

That's a good question. The most likely explanation for specifically targeting servers (mining pools) is to remove a lot of competition all at once. It doesn't take many hashes to have a successful attack because the attack is concentrated. The idea is probably to remove the servers and then be the only one hashing when the solo block is found. At that point the attacker can mine hundreds of blocks before the pools recover.

but i'm always online with solo, so i dont see big profits for these attacks, because i get many blocks too when this happening

some ebt-millionaire should buy some cryptsypoints and move it up the list to get some liquidity into ebt. That would be nice.

i'd prefer buy more ebt on poloniex instead of spending btc on cryptsy voting

Someone stop these poor desperate nerds from selling EBT at 0.00000067, 0.00000070, 0.00000071, 0.00000072 and look at the quantity 0.000x, 0.00x etc...

They're desperate for women, desperate for fame and now it's clear they're desperate for even the slightest amount of money. But in the mean time they make a bad day for other not-desperate people and miners.

they want btc instead of ebt and they get it 

[dE_logics]

Someone stop these poor desperate nerds from selling EBT at 0.00000067, 0.00000070, 0.00000071, 0.00000072 and look at the quantity 0.000x, 0.00x etc...

They're desperate for women, desperate for fame and now it's clear they're desperate for even the slightest amount of money. But in the mean time they make a bad day for other not-desperate people and miners.

they want btc instead of ebt and they get it 

But they can get MORE BTC for EBT if they wait. If the sellers don't increase prices, the buyers will.

[tx42]

Well actually I have evidence.

There are only 6 or 7 PoS coins coins in the top 50 cryptos (and even less in the top 100), only HoboNickels gives 100% interest rate, the second highest being mintcoin.

As of peercoin, the PoS difficulty is 10, while PoW difficulty 154,904,621.505. Clearly, PoW save PPC from a 51%. And the moment people realize mutual fund schemes give many times better returns, they'll dump PPC for it. So actually, it's surprising why people are still holding PPC for it's negligible interest rate. I would like to learn.

Even HoboNickels, which has a return of 100% a year, has PoW difficulty of 10, and PoS difficulty of 0.003. Speaking of which it's peak has arrived, and never see it's peak again even if the dev is active (it wont die -- but it wont go as high).

Even mintcoin (100% PoS) has a difficulty of 0.243. It provides 0% protection and 20% interest rate.

Did you just time travel from pre-Copernican Europe to criticize altcoins? Because your critique has all the features of Medieval Occultism. Most notably, it is clear from what you have written that you have made judgements without even the slightest understanding of how PoW/PoS coins work.

First, the PoS difficulty is supposed to be much, much lower than the PoW difficulty in a PoW/PoS coin. That's by design and is part of the source code. The reason is that the likelihood that a stake will qualify for minting is based entirely on coin age. Once qualified, the low PoS difficulty allows the stake miner to find a hash with very few resources and within the target block time.

Second, all of the attacks suffered by PoW/PoS coins are directed at the PoW component. EBT is a case in point. Just read the summary above. In fact, if you read all the way through, you'll see that to get the servers synchronized, they use the blockchain kept by the PoS minters. Proof of this fact can be seen by the long stretches of PoS blocks.

Finally, if you read the entire Blade thread, the Blade APR is 20.19%, in line with the Bladerunner theme of the coin, not 100%. It looks like someone on the Balde team needs to update the OP.

[dE_logics]

Well actually I have evidence.

There are only 6 or 7 PoS coins coins in the top 50 cryptos (and even less in the top 100), only HoboNickels gives 100% interest rate, the second highest being mintcoin.

As of peercoin, the PoS difficulty is 10, while PoW difficulty 154,904,621.505. Clearly, PoW save PPC from a 51%. And the moment people realize mutual fund schemes give many times better returns, they'll dump PPC for it. So actually, it's surprising why people are still holding PPC for it's negligible interest rate. I would like to learn.

Even HoboNickels, which has a return of 100% a year, has PoW difficulty of 10, and PoS difficulty of 0.003. Speaking of which it's peak has arrived, and never see it's peak again even if the dev is active (it wont die -- but it wont go as high).

Even mintcoin (100% PoS) has a difficulty of 0.243. It provides 0% protection and 20% interest rate.

Did you just time travel from pre-Copernican Europe to criticize altcoins? Because your critique has all the features of Medieval Occultism. Most notably, it is clear from what you have written that you have made judgements without even the slightest understanding of how PoW/PoS coins work.

First, the PoS difficulty is supposed to be much, much lower than the PoW difficulty in a PoW/PoS coin. That's by design and is part of the source code. The reason is that the likelihood that a stake will qualify for minting is based entirely on coin age. Once qualified, the low PoS difficulty allows the stake miner to find a hash with very few resources and within the target block time.

Second, all of the attacks suffered by PoW/PoS coins are directed at the PoW component. EBT is a case in point. Just read the summary above. In fact, if you read all the way through, you'll see that to get the servers synchronized, they use the blockchain kept by the PoS minters. Proof of this fact can be seen by the long stretches of PoS blocks.

Finally, if you read the entire Blade thread, the Blade APR is 20.19%, in line with the Bladerunner theme of the coin, not 100%. It looks like someone on the Balde team needs to update the OP.

I have full and better understand of PoS coins than you, and I very well know how PoS works..

The low difficulty suggest --

   You need to run a full node in order for the wallet to mine blocks based on PoS and it should be up always; how many people will do that? (especially when the interest rate is low)? When these coins will be made popular, 90% people will run light weight wallets giving power to the hands of these 10% (PoS difficulty will be low in this case).

Difficulty of 10 for the 3rd largest cryptocurrenty is very less. And I bet most of the contributers of the difficulty are the exchanges.

It's all in the FAQ, it's you who failed to read. And the reason why I made up that article is exactly for people like you and I've proved my point over and over again 10s of times, you're not the 1st one.

For e.g. this guy (just like you) claimed that Bitcoin is the best crypto. He's living in a cocoon like yours and you, like him, will end the debate blaming me instead of cutting the facts that I put here. Besides your task here is to protect your hard earned 5-minute block target crypto (30 minute confirmation!) and targeting everyone who targets your beloved coin which has horrible specs.

Failure of PoW in this coin can be entirely be blamed on the design flaws of this coin. More than 90% of successful cryptos, especially the new ones are PoW and there are many simple and effective difficulty algo to protect against just that (multipools i.e.) and they're targeted by them all the time and none of them stop. All have learnt. This crypto doesn't even specify it's difficulty re-target algorithm, and the dev refused to fix it.

As of 20% rate of return --

Stability in prices -- Cryptocurrencies are not commodities. It's designed to be spent and a medium to receive payments from. If a cryptocurrency is not that, it's basically a pump and dump scheme.

Actually if you see for a fair cryptocurrency which is not seen as an investment, there should be a little bit inflation, cause that way people will not hold on to it like investment; instead they'll use it to buy investments like shares and gold -- which is something to be seen as an investment.

And this one has 20% inflation. Once stability has been established, it's prices will drop 20% each year if all the coins are online, and cause of it's high interest rate and design (100% PoS) there are reasons for them to be online.

Proof of stake is not good.
        It encourages holding the coins as investment, avoiding it's circulation, i.e. true use as a cryptocurrency. Then worst -- PoS looks at the coin age; the longer you're holding a large amount of cryptocurrency, the higher the chance of mining a block, which further reduces chance of circulation. However if the profits proof of stake is giving you is negligible, then we may nullify this disadvantage.

PoS is good, if done right and along with PoW.

[tx42]

I have full and better understand of PoS coins than you, and I very well know how PoS works..

No you don't. You simply don't make any sense.

Your worst error is suggesting above that the difficulty of PoS has any bearing on the protection that PoS provides a coin.


Let's look at just a few of your other comments:

Even mintcoin (100% PoS) has a difficulty of 0.243. It provides 0% protection and 20% interest rate.

If 100% of mint has 0% protection, then why has it not succumbed to an attack on its vulnerabilities? The answer is that PoS provides the protection. You simply ignore (or more likely are unable to recognize) this fact.

Mint is protected by the PoS network.


You go on to contradict yourself:

You need to run a full node in order for the wallet to mine blocks based on PoS and it should be up always; how many people will do that?

Which you follow with

Proof of stake is not good. It encourages holding the coins as investment, avoiding it's circulation,

Which is it? First you suggest that too few will keep a wallet open to mint and then you suggest that too many people will do it.

[Terree Esguerra05]

EBT most undervalued coin!

Vote! Vote everyday!

[Mary AnnPAL]

I Like EBT coin & god job

[CartGeezer]

I like it, too.  I want to mine it for much longer than what we now have left.  It was disappointing enough to know mining was bye-bye next month, but now next week?

It seems the miners, who put this coin on the map originally supporting it, are taking the 60 grit up the exit port again.

That may not be how it is, but that's what it feels like to me.

[tx42]

I like it, too.  I want to mine it for much longer than what we now have left.  It was disappointing enough to know mining was bye-bye next month, but now next week?

It seems the miners, who put this coin on the map originally supporting it, are taking the 60 grit up the exit port again.

That may not be how it is, but that's what it feels like to me.

I thought you were outtta here. I mined this coin 24 hours per day for 2 months. Where were you when you could mine 35,000 coins a day with one card?

I'm glad it's going PoS. The sooner the better in my opinion.

Read the posts again, you aren't missing out on much coin. If you want a lot, just go buy some. It's still cheap!

[CartGeezer]

I'm sorry I don't have the time to hang on my computer to watch for all the new coins.