[ANN] [BEN] Benjamins ◄ SHA-256 ►◄ BOUNTY AVAILABLE to make BEN merge mineable!!

[vual]

I will leave you guys alone.  

An old wise man once told me:  "if the competition is doing something wrong, don't disturb them"

I broke the rule - I apologize.

"We are all born ignorant, but one must work hard to remain stupid."
-Benjamin Franklin

[1714693749]

1714693749

[1714693749]

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[1714693749]

1714693749

[vual]

I will leave you guys alone.  

Welcome back....

A wise man once told me... "dont feed the trolls" so no matter how arrogant/instigating and pretentious your next comment is ill simply remember like you said "your compitition" so obviously are grasping at desperate straws and now have to resort to trolling. So be it, ill refrain from replying now i have you figured out, may BEN supporters feel honored you consider us competition, for we dont even know who you are, what you are about, or what coin you are marketing....

[iGotSpots]

I will leave you guys alone.  

Welcome back....

A wise man once told me... "dont feed the trolls" so no matter how arrogant/instigating and pretentious your next comment is ill simply remember like you said "your compitition" so obviously are grasping at desperate straws and now have to resort to trolling. So be it, ill refrain from replying now i have you figured out, may BEN supporters feel honored you consider us competition, for we dont even know who you are, what you are about, or what coin you are marketing....
and really i dont think anyone here gives a fuck unless its constructive or at the very list factual.

I am sorry.  I gave you constructive - you prefered destructive.

I am not trolling any other coins.  I am looking for a SHA-256 that is not over 50% mined - anything but ASC (65%), ZET (99.6%), TGC (56%), UNO (54%), etc.  BEN always comes in the look out - but the dev-team doesn't want to do anything about the current diff issue.  

How can I spell it out?  A coin that is designed for 1 min block time, currently mining at 4h?  Give me a break...

BEN has a GREAT potential - because of its name!  Period.  But that was genius.

By not doing anything about it, you guy are killing it!  Get off your pedestal and get the dev-team to do something about it!

Block time is 10 mins I think

Anyway this is one reason I advised and still suggest not giving in to complaints. Some of us understand security

https://bitcointalk.org/index.php?topic=504103.0

[iGotSpots]

Block time is 10 mins I think

Anyway this is one reason I advised and still suggest not giving in to complaints. Some of us understand security

https://bitcointalk.org/index.php?topic=504103.0

... there you go - the BEN's way of avoiding problems....  change the topic.

I give up.

Good luck!

First of all I'm not Ben. Second I posted an exploit for Gravity well. I would say that's pretty relevant since that what I'm guessing you want to see

[Mortimer452]

It doesn't have to be Gravety well!!!!  I looked at the code, just drop the 2 weeks retargeting!

Looked further into BEN's code. The cut and paste of BEN was... cut and paste.  Unfortunately, it didn't account for the new high power ASIC miners out there. And the launch was poorly done, resulting in what we have now.  If BEN would have been premined (at 0 rewards, for example) from 0.0000244 diff to a safe diff, like 1 or 2 - we wouldn't have this problem today.  

BEN had to go through  6 order of magnitude from the genesis block diff, to multi GH/s inputs in a short time.  Classic error.  The Bitcoin code was originally based on CPU mining (a few KH/s) - not GH/s ASICs like today!.  Even with today's CPUs, from the genesis block, you can get the first 100 blocks with a single CPU in 5 mins!    

(One order of magnitude = 10x increase, therefore, 6 order of magnitude = 10^6)

BEN has a very long diff adjustment, like Bitcoin - but doesn't have the network to support it.  I will either die - or survive, but only if it changes its difficulty to match its 2014 customers.

In summary, lots of early people got LOTS of BEN early, which would explain the reluctance to change anything at this point.  But, if they don't do anything, their fast earned coins will be worthless very soon..

I've said my piece on this before and I agree with nerioseole above.  This coin IS BROKEN and will *never* be successful unless the diff retarget, and probably block generation time are changed.

Benjamins - you said yourself, you FUCKED UP and accidentally left testnet code in production which resulted in a 10-minute block time, rather than the 64-second block times advertised since the coin's launch.  Your first step towards success was admitting the mistake, but your biggest mistake was deciding to leave it that way.  I don't see how anyone can admit to a mistake that huge and then refuse to fix it.  Worst of all, at the same time, try to convince everyone it's better this way?

At current rates it is taking 75 minutes to find a block and BEN is now at least 100 days to next diff adjustment.  Except it won't be 100 days.  By tomorrow block times will be 85 minutes.  The next day, 95.  The network hashrate will continue to drop, block times will get longer.  This trend is going to continue until the coin is forked.  The next diff adjustment will never arrive.

Not trying to be a hater - I have supported this coin, you know I have - but Benjamins is OVER until this coin is forked.

[kovert]

I would like this coin to do well. But I am confused what is going on i do not understand re targets and all the other technical stuff.

Will this coin bounce back or will it wither away and die. The way you explain it is by hashpower will sort it so how do WE / YOU Get the message out for more miners.

Admittedly I dont have much hash maybee 40 ish ghs. But iam getting 10% of what it was a week ago

[Marty19]

FREE pool at iSpace Mining Pools

http://ispace.co.uk

[iGotSpots]

I don't think you guys understand. Even if they fork it now to change block time or diff adjust it will only get worse

The network thinks it is several weeks ahead of schedule

If you want to speed it up then more miners need to be on the network. Thats it really. Ben summed it up pretty well a few pages back. Since I don't feel like typing it all I'll just quote it

The general consensus last night was to let it be. This will keep the block time of all 4 coins on Paysha at 10 minutes

What does this mean for Benjamins?

It's going to suck mining for a little while. The difficulty keeps increasing, because we should only be on block 4500ish right now, not 20,000. We got way ahead early because so many ASIC miners jumped on before the first few adjustments. Benjamins will become extremely hard to mine for the next month, or even longer, depending on hash rate. Paysha will support BEN even if the transactions are slow for the first few months due to the problem. Both teams feel as if 10 minute blocks are better in the long run for network and transaction security, regardless of the short term damage. Changing the difficulty now would alter the lifespan of the coin to a degree that would ruin it. It would be mined out too fast. I know it seems like it's broken, but it's the exact opposite. Benjamins network is spiking difficulty to fix itself, rather than allow more Benjamins to be mined ahead of schedule

Thanks for your continued support of Benjamins

I assume the next few pages will be extremely negative, and it's deserved, so let's have it

[AllAboutTheBenjaminsBaby]

We are 15k blocks ahead of schedule. This has nothing to do with wanting to hold what we already have. None of us have sold a single Benjamin, and in fact have used most of what we mined for giveaways on Reddit, Twitter, Cryptocointalk, and several other sites

Read what Igotspots quoted above. It explains our decision and gives reasons why a fork would make the situation worse. 10 minute block times are better for security, this is a known issue, as well as the KGW holes recently found, further strengthen our decision not to fork

Coins should not be created to serve the miners, but the consumers who will use them in the end. Benjamins will be one of the most secure blockchains once it has the hashpower to back up the numbers. Security and not losing coins or leaving them vulnerable to attack so vendors, exchanges, or traders don't lose payments is more important to us than making a few coin hopping miners happy. I'm sorry, but that's the truth. The ones that have stuck around mining since the beginning will enjoy having rarer-than-planned coins, but that was definitely not our intention

[Mortimer452]

I don't think you guys understand. Even if they fork it now to change block time or diff adjust it will only get worse

The network thinks it is several weeks ahead of schedule

If you want to speed it up then more miners need to be on the network. Thats it really. Ben summed it up pretty well a few pages back. Since I don't feel like typing it all I'll just quote it

The general consensus last night was to let it be. This will keep the block time of all 4 coins on Paysha at 10 minutes

What does this mean for Benjamins?

It's going to suck mining for a little while. The difficulty keeps increasing, because we should only be on block 4500ish right now, not 20,000. We got way ahead early because so many ASIC miners jumped on before the first few adjustments. Benjamins will become extremely hard to mine for the next month, or even longer, depending on hash rate. Paysha will support BEN even if the transactions are slow for the first few months due to the problem. Both teams feel as if 10 minute blocks are better in the long run for network and transaction security, regardless of the short term damage. Changing the difficulty now would alter the lifespan of the coin to a degree that would ruin it. It would be mined out too fast. I know it seems like it's broken, but it's the exact opposite. Benjamins network is spiking difficulty to fix itself, rather than allow more Benjamins to be mined ahead of schedule

Thanks for your continued support of Benjamins

I assume the next few pages will be extremely negative, and it's deserved, so let's have it

OK, so add more miners to the network.  Easier said than done.

For miners to join up, there has to be something attractive about the coin.  Profitability is the most important, or at least potential profitability.  I'll agree BEN has some potential with the Paysha launch but with the horribly, horribly slow block times and very low hashrate, it's sorta like putting chrome rims on a rusty 1971 Ford Pinto to make it look better.  You can't polish a turd.

Right now I could earn about 0.002 BTC per day (maybe less) with ~350GHash mining BEN.  Why would I do that when I could make 20x as much mining BTC or any number of other altcoins.  

I dislike the 10-minute blocktime but if it's that important to keep it, I'll respect the decision to do that.  However, the coin still needs forked to correct the diff rut BEN is in right now.  Just when BEN's first payment provider is about to launch, the entire network is stuck paying the price for something that happened a month ago, when early miners jumped on and mined a ton of easy BEN's when the diff was low.

The diff algo needs to be reset, adjusted to compensate for the current block height (not expected block height) to get BEN back on track with 10-minute block times at the current network hashrate.  Future diff adjustments should happen WAAAAY sooner than every 2016 blocks, more like every block or 2 blocks, or BEN will simply get back into this situation in another 2 weeks.

[Mortimer452]

We are 15k blocks ahead of schedule. This has nothing to do with wanting to hold what we already have. None of us have sold a single Benjamin, and in fact have used most of what we mined for giveaways on Reddit, Twitter, Cryptocointalk, and several other sites

Read what Igotspots quoted above. It explains our decision and gives reasons why a fork would make the situation worse. 10 minute block times are better for security, this is a known issue, as well as the KGW holes recently found, further strengthen our decision not to fork

Coins should not be created to serve the miners, but the consumers who will use them in the end. Benjamins will be one of the most secure blockchains once it has the hashpower to back up the numbers. Security and not losing coins or leaving them vulnerable to attack so vendors, exchanges, or traders don't lose payments is more important to us than making a few coin hopping miners happy. I'm sorry, but that's the truth. The ones that have stuck around mining since the beginning will enjoy having rarer-than-planned coins, but that was definitely not our intention

Sorry to be blunt but you are delusional.

Appealing to miners is ABSOLUTELY REQUIRED.  Without miners transactions cannot be confirmed.  No sending coins, no receiving coins, no mining coins.

I'm not saying BEN needs KGW.  I'm not saying BEN has to decrease the block time (although, it would be my preference if it did).  But the diff adjustment issue has to be addressed.  Mark my words, the next diff adjustment will never, ever, ever arrive, BEN will never, ever, ever see anything close to 10-minute block times again if you do not fork this coin.

[AllAboutTheBenjaminsBaby]

We are 15k blocks ahead of schedule. This has nothing to do with wanting to hold what we already have. None of us have sold a single Benjamin, and in fact have used most of what we mined for giveaways on Reddit, Twitter, Cryptocointalk, and several other sites

Read what Igotspots quoted above. It explains our decision and gives reasons why a fork would make the situation worse. 10 minute block times are better for security, this is a known issue, as well as the KGW holes recently found, further strengthen our decision not to fork

Coins should not be created to serve the miners, but the consumers who will use them in the end. Benjamins will be one of the most secure blockchains once it has the hashpower to back up the numbers. Security and not losing coins or leaving them vulnerable to attack so vendors, exchanges, or traders don't lose payments is more important to us than making a few coin hopping miners happy. I'm sorry, but that's the truth. The ones that have stuck around mining since the beginning will enjoy having rarer-than-planned coins, but that was definitely not our intention

Sorry to be blunt but you are delusional.

Appealing to miners is ABSOLUTELY REQUIRED.  Without miners transactions cannot be confirmed.  No sending coins, no receiving coins, no mining coins.

I'm not saying BEN needs KGW.  I'm not saying BEN has to decrease the block time (although, it would be my preference if it did).  But the diff adjustment issue has to be addressed.  Mark my words, the next diff adjustment will never, ever, ever arrive, BEN will never, ever, ever see anything close to 10-minute block times again if you do not fork this coin.

I can't make it any more clear. If we make difficulty adjust faster, it will go up every block. Every block will get harder than the previous, increasing the time even further than if it jumps every 2000 blocks. The long time in between will let the network catch up. If difficulty is changed more frequently, it will go up more than if we don't fork it before it goes down

You did the math before, so I know you understand how far ahead we are. Surely you realize what I mean?

[Poogasm]

We are 15k blocks ahead of schedule. This has nothing to do with wanting to hold what we already have. None of us have sold a single Benjamin, and in fact have used most of what we mined for giveaways on Reddit, Twitter, Cryptocointalk, and several other sites

Read what Igotspots quoted above. It explains our decision and gives reasons why a fork would make the situation worse. 10 minute block times are better for security, this is a known issue, as well as the KGW holes recently found, further strengthen our decision not to fork

Coins should not be created to serve the miners, but the consumers who will use them in the end. Benjamins will be one of the most secure blockchains once it has the hashpower to back up the numbers. Security and not losing coins or leaving them vulnerable to attack so vendors, exchanges, or traders don't lose payments is more important to us than making a few coin hopping miners happy. I'm sorry, but that's the truth. The ones that have stuck around mining since the beginning will enjoy having rarer-than-planned coins, but that was definitely not our intention

Sorry to be blunt but you are delusional.

Appealing to miners is ABSOLUTELY REQUIRED.  Without miners transactions cannot be confirmed.  No sending coins, no receiving coins, no mining coins.

I'm not saying BEN needs KGW.  I'm not saying BEN has to decrease the block time (although, it would be my preference if it did).  But the diff adjustment issue has to be addressed.  Mark my words, the next diff adjustment will never, ever, ever arrive, BEN will never, ever, ever see anything close to 10-minute block times again if you do not fork this coin.

I can't make it any more clear. If we make difficulty adjust faster, it will go up every block. Every block will get harder than the previous, increasing the time even further than if it jumps every 2000 blocks. The long time in between will let the network catch up. If difficulty is changed more frequently, it will go up more than if we don't fork it before it goes down

You did the math before, so I know you understand how far ahead we are. Surely you realize what I mean?

Why is it 2000 blocks or EVERY block? is there no where in the middle?

[AllAboutTheBenjaminsBaby]

We are 15k blocks ahead of schedule. This has nothing to do with wanting to hold what we already have. None of us have sold a single Benjamin, and in fact have used most of what we mined for giveaways on Reddit, Twitter, Cryptocointalk, and several other sites

Read what Igotspots quoted above. It explains our decision and gives reasons why a fork would make the situation worse. 10 minute block times are better for security, this is a known issue, as well as the KGW holes recently found, further strengthen our decision not to fork

Coins should not be created to serve the miners, but the consumers who will use them in the end. Benjamins will be one of the most secure blockchains once it has the hashpower to back up the numbers. Security and not losing coins or leaving them vulnerable to attack so vendors, exchanges, or traders don't lose payments is more important to us than making a few coin hopping miners happy. I'm sorry, but that's the truth. The ones that have stuck around mining since the beginning will enjoy having rarer-than-planned coins, but that was definitely not our intention

Sorry to be blunt but you are delusional.

Appealing to miners is ABSOLUTELY REQUIRED.  Without miners transactions cannot be confirmed.  No sending coins, no receiving coins, no mining coins.

I'm not saying BEN needs KGW.  I'm not saying BEN has to decrease the block time (although, it would be my preference if it did).  But the diff adjustment issue has to be addressed.  Mark my words, the next diff adjustment will never, ever, ever arrive, BEN will never, ever, ever see anything close to 10-minute block times again if you do not fork this coin.

I can't make it any more clear. If we make difficulty adjust faster, it will go up every block. Every block will get harder than the previous, increasing the time even further than if it jumps every 2000 blocks. The long time in between will let the network catch up. If difficulty is changed more frequently, it will go up more than if we don't fork it before it goes down

You did the math before, so I know you understand how far ahead we are. Surely you realize what I mean?

Why is it 2000 blocks or EVERY block? is there no where in the middle?

Let's say it's 200 blocks then. The problem will still get 10 times worse than it is now. Every 200 blocks. Instead of every 2000. If you guys want to do the math, feel free. We have, it won't catch up any faster to the target block RIGHT NOW if we make difficulty adjust more often. It will make it take LONGER to catch up because blocks will be harder and harder. Leaving it like this locks that difficulty in for a period of time, rather than adjusting even higher every day (or week)

[Poogasm]

LOL, as if I even know where to start with the math.
You are hilarious.

[AllAboutTheBenjaminsBaby]

LOL, as if I even know where to start with the math.
You are hilarious.

Let me make it simple. I will use round numbers to show it easier. These numbers are made up for the sake of an example

1440 minutes in a day / 10 minute blocks = 144 blocks/day

144 * 30 (a month, to make it easy) = 4320, the block the network believes we should be on a month after release time

We are on block 22k due to ASIC mining before the first adjustment. That means all the blocks between 4320-current are ahead of schedule, so the difficulty goes up to stall

2000 block adjustments will go up 25%
200 block adjustments will go up 25%

I'm using 25%, but what the real % would be is the same for both adjustments since it is limited in how far it can adjust

25% increased 10 times with faster retargets will give you an exponentially higher difficulty than one jump, less often, with the same percentage increase, due to the adjustment limits. You would be going 100 + 25% then (100 + 25%) + 25% and so on for every adjustment

[Mortimer452]

We are 15k blocks ahead of schedule. This has nothing to do with wanting to hold what we already have. None of us have sold a single Benjamin, and in fact have used most of what we mined for giveaways on Reddit, Twitter, Cryptocointalk, and several other sites

Read what Igotspots quoted above. It explains our decision and gives reasons why a fork would make the situation worse. 10 minute block times are better for security, this is a known issue, as well as the KGW holes recently found, further strengthen our decision not to fork

Coins should not be created to serve the miners, but the consumers who will use them in the end. Benjamins will be one of the most secure blockchains once it has the hashpower to back up the numbers. Security and not losing coins or leaving them vulnerable to attack so vendors, exchanges, or traders don't lose payments is more important to us than making a few coin hopping miners happy. I'm sorry, but that's the truth. The ones that have stuck around mining since the beginning will enjoy having rarer-than-planned coins, but that was definitely not our intention

Sorry to be blunt but you are delusional.

Appealing to miners is ABSOLUTELY REQUIRED.  Without miners transactions cannot be confirmed.  No sending coins, no receiving coins, no mining coins.

I'm not saying BEN needs KGW.  I'm not saying BEN has to decrease the block time (although, it would be my preference if it did).  But the diff adjustment issue has to be addressed.  Mark my words, the next diff adjustment will never, ever, ever arrive, BEN will never, ever, ever see anything close to 10-minute block times again if you do not fork this coin.

I can't make it any more clear. If we make difficulty adjust faster, it will go up every block. Every block will get harder than the previous, increasing the time even further than if it jumps every 2000 blocks. The long time in between will let the network catch up. If difficulty is changed more frequently, it will go up more than if we don't fork it before it goes down

You did the math before, so I know you understand how far ahead we are. Surely you realize what I mean?

I do understand what you mean, but I don't think you understand what I mean

Simply changing the diff adjustment to every 1 blocks will not fix the problem.  The diff algorithm itself also needs to be changed, and adjusted to take into consideration the current block height.

Current diff algo looks at the current block height, versus the expected block height and adjusts the difficulty up or down based on how close we are to the expected block#.

This algo is no good, BEN will never, ever correct itself using this algorithm (well, maybe eventually, but it will take YEARS).  

A new diff adjustment algorithm must be implemented, maybe one that does not look at the expected block height, but looks at the length of time it took to complete the previous X number of blocks and adjusts the diff accordingly (pretty sure this would work, but I'm just shooting from the hip here).

Additionally, the diff adjustment period must also be reduced - otherwise, BEN will simply end up with the same problem again in a couple weeks.

[AllAboutTheBenjaminsBaby]

We are 15k blocks ahead of schedule. This has nothing to do with wanting to hold what we already have. None of us have sold a single Benjamin, and in fact have used most of what we mined for giveaways on Reddit, Twitter, Cryptocointalk, and several other sites

Read what Igotspots quoted above. It explains our decision and gives reasons why a fork would make the situation worse. 10 minute block times are better for security, this is a known issue, as well as the KGW holes recently found, further strengthen our decision not to fork

Coins should not be created to serve the miners, but the consumers who will use them in the end. Benjamins will be one of the most secure blockchains once it has the hashpower to back up the numbers. Security and not losing coins or leaving them vulnerable to attack so vendors, exchanges, or traders don't lose payments is more important to us than making a few coin hopping miners happy. I'm sorry, but that's the truth. The ones that have stuck around mining since the beginning will enjoy having rarer-than-planned coins, but that was definitely not our intention

Sorry to be blunt but you are delusional.

Appealing to miners is ABSOLUTELY REQUIRED.  Without miners transactions cannot be confirmed.  No sending coins, no receiving coins, no mining coins.

I'm not saying BEN needs KGW.  I'm not saying BEN has to decrease the block time (although, it would be my preference if it did).  But the diff adjustment issue has to be addressed.  Mark my words, the next diff adjustment will never, ever, ever arrive, BEN will never, ever, ever see anything close to 10-minute block times again if you do not fork this coin.

I can't make it any more clear. If we make difficulty adjust faster, it will go up every block. Every block will get harder than the previous, increasing the time even further than if it jumps every 2000 blocks. The long time in between will let the network catch up. If difficulty is changed more frequently, it will go up more than if we don't fork it before it goes down

You did the math before, so I know you understand how far ahead we are. Surely you realize what I mean?

I do understand what you mean, but I don't think you understand what I mean

Simply changing the diff adjustment to every 1 blocks will not fix the problem.  The diff algorithm itself also needs to be changed, and adjusted to take into consideration the current block height.

Current diff algo looks at the current block height, versus the expected block height and adjusts the difficulty up or down based on how close we are to the expected block#.

This algo is no good, BEN will never, ever correct itself using this algorithm (well, maybe eventually, but it will take YEARS).  

A new diff adjustment algorithm must be implemented, maybe one that does not look at the expected block height, but looks at the length of time it took to complete the previous X number of blocks and adjusts the diff accordingly (pretty sure this would work, but I'm just shooting from the hip here).

Additionally, the diff adjustment period must also be reduced - otherwise, BEN will simply end up with the same problem again in a couple weeks.

Max time at current hashrate will be 4 months to be where it should be, sped up with more miners that hop on. This problem will never happen once it catches up, because the network will not allow it to get that far ahead. It only happened because ASIC power wasn't accounted for in the initial difficulty

This, once corrected, will NEVER happen again. It's impossible to get 5 times ahead of the network other than with a massive launch

[iGotSpots]

I think either option works. Although if you make it adjust based on last few blocks then you are totally fucking up the mining life. All the coins will be mined out a lot faster than planned

[Poogasm]

What if more miners don't hop on? Seems more would leave in this situation rather than more show up.