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Author Topic: [ANN][AUR] Auroracoin - a cryptocurrency for Iceland  (Read 504940 times)
crazy987
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April 04, 2014, 07:48:43 AM
 #4021

well ok, personally i wouldnt be scared off as a miner, but would be interested in investing more ;p

i guess if ur happy with the current supply on sell side then it's fine. my idea is that if u reduce mining reward then the coin is free to make rise with new investment till it levels off at the relative diff/reward value. we do have a 50% premine making it's way to the markets already. the price would eventually rise up to and past the same value per coin, just each coin would be worth more. returns from mining would eventually be the same even though there is lower block reward.

I'm not sure that made sense, like at all.

why? do u think that price has to stick with miners? we could pump aur to $500 right now even if there were only 5 miners on the entire network. it really doesnt matter. when the price rises the miners will come.

e.g pump aur to .02btc now and you will see the network housing more than 10gh. pump it to .050 and you will see appearing on the network 50gh. miners follow profitability not the other way around. and investors hold stable coins longer than coins that steadily drop in value.

im saying, if the block rewards were reduced significantly enough then the coin instantly becomes more valuable as there is less dump coming to the market. when that happens, itll get bought up due to low supply at low prices and it will return to a value similar to current income per day even with lowered block reward. miners generally sell and not buy. few im sure even trade effectively to multiply the coins they hold. they just cashout to btc and maybe straight to usd.

my point.. u could not gain value on this coin without attracting more hash. i will state and you can quote me on that..  "it's impossible". if the price rises, the hash will come. the question then would just be how much of that hash wants to dump and how much prefers to hold more longterm.


If you reduce block reward you effectively reduce profitability too.

Keep that in mind

yup temporarily. but it will set a cap at the current price and guarantee a rise in value of the coin from new investors interested in the dramatic reduction of supply making the coin a superb investment opportunity for those who start buying at current prices. the sell value would then raise itself to a point where mining profitability is back to normal.

it may also encourage those who sold at higher value to buy back multiples of what they sold earlier, with the difficulty following suit being raised by the price and new hashpower. it would severely reduce the success of any person or group vindictively trying to hold down the price of the coin. if the icelandic ppl were smart, theyd all try to margin trade their coins to multiply how much they hold in possession from 31.8 to 63.6 etc.

either way this is a nice price for aur.. cheap ;0. im ok with whatever way you want to swing it. i am and will be a dedicated aur investor for the long haul. i suppose with the airdrop dumpers it is a good idea to keep the price low so we can get 30 aur for $100 from those that wish to sell. just my 2 cents. ive studied the markets for a long time. and just as i called the blackcoin rise.. im also going to call the spaincoin rise now since they have converted to nscrypt, reducing daily reward by 60%.. u can expect spaincoin to at least triple once the early miners have sold out their stock and only the n-scrypt miners have coins to sell.


Dont cut the mining reward.
Hell smartcoin did that and it effectively killed the coin.
Aside from the hardfork which killed the wallet, exchanges didnt change at the same time.
People who still had coins on the exchanged dumped them and the price fell lower.

My ill advice, dont do it.
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ghur
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April 04, 2014, 08:06:55 AM
 #4022

Mooncoin has a fix for the KGW exploit, it appears the Aururacoin devs need to address this issue also.

yes, it will be fixed..

https://bitcointalk.org/index.php?topic=552895.0

Still nothing on git and no new release.

Just another saga of devs not fixing things in a timely manner.

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groove_machine
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April 04, 2014, 11:02:38 AM
 #4023

Auroracoin Unity Pool

Come and try Unity Pool mining! Currently 0% fees!
US and UK/EU stratum mirrors.
Pure SSD servers, fast and reliable.

http://aur.unity-pool.com
Klacik
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April 04, 2014, 11:49:19 AM
 #4024

Mooncoin has a fix for the KGW exploit, it appears the Aururacoin devs need to address this issue also.

yes, it will be fixed..

https://bitcointalk.org/index.php?topic=552895.0

Still nothing on git and no new release.

Just another saga of devs not fixing things in a timely manner.

..well if it's that easy for you, why don't you help balduro (and others involved) instead of trolling on every single thing you don't like?  Roll Eyes
lunas
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April 04, 2014, 01:13:16 PM
 #4025

mintpal has frozen deposits and withdrawals of AUR pending a patch.
avw1982
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April 04, 2014, 01:43:48 PM
 #4026

mintpal has frozen deposits and withdrawals of AUR pending a patch.

Cryptsy also.
ghur
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April 04, 2014, 02:57:56 PM
 #4027

..well if it's that easy for you, why don't you help balduro (and others involved) instead of trolling on every single thing you don't like?  Roll Eyes

Why would I? I have no stake in this.

It's not my job to clean up their incompetence.

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balduro
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April 04, 2014, 04:06:03 PM
 #4028

April 4th: Automatic checkpointing introduced.

Update ASAP to v. 1.3.0.0
https://github.com/baldurodinsson/auroracoin-project/
http://auroracoin.org/resources/auroracoin-qt.zip

mmouse
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April 04, 2014, 04:36:13 PM
 #4029

April 4th: Automatic checkpointing introduced.
Update ASAP to v. 1.3.0.0

Does this update fix the KGW timewarp attack?
balduro
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April 04, 2014, 04:54:12 PM
 #4030

April 4th: Automatic checkpointing introduced.
Update ASAP to v. 1.3.0.0

Does this update fix the KGW timewarp attack?

This does not explicitly deal with TW. That will require a hard fork that will be introduced at a later date.

This ensures that such an attack (and 51% attacks) will be rendered useless. But the network needs to update to 1.3.0.0 for the protection to work. Also gives us time to carefully think through any changes we make.
ghur
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April 04, 2014, 05:06:21 PM
 #4031

April 4th: Automatic checkpointing introduced.

Update ASAP to v. 1.3.0.0
https://github.com/baldurodinsson/auroracoin-project/
http://auroracoin.org/resources/auroracoin-qt.zip



Why did you merge in code Auroracoin does not have the license to?

The following is taken directly from src/checkpointsync.cpp:

Quote
Copyright (c) 2012-2013 PPCoin developers
Copyright (c) 2013 Primecoin developers

A perpetual use license of this advanced checkpoint technology is granted
to feathercoin by Sunny King on behalf of PPCoin developers and Primecoin
developers.

Permission is hereby granted to any person obtaining a copy of the advanced
checkpoint technology, for perpetual use in feathercoin network, including
the rights to use, copy, modify, merge, publish, distribute, subject to the
following conditions:

a) This license is not transferrable, no sublicense, and applies to
   feathercoin only.

b) The above copyright notice and this permission notice shall be included
   in all copies of source code distributions.

Feathercoin is waived from displaying the above copyright notice in
'About' for the inclusion of advanced checkpoint technology. Reference
in file 'COPYING' is appreciated but not required.

Does Auroracoin not respect the copyright owned by developers of different coins?

If you have received permission, why does the header not reflect this?

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mineabit
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April 04, 2014, 05:18:54 PM
 #4032

Mineabit pool has been updated:

./AuroraCoind getinfo
{
    "version" : 1030000,
    "protocolversion" : 1030000,
    "walletversion" : 60000,
Astroxjr
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April 04, 2014, 06:52:43 PM
 #4033

Gj Balduro

bushstar
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April 04, 2014, 07:05:38 PM
 #4034

Why did you merge in code Auroracoin does not have the license to?

The following is taken directly from src/checkpointsync.cpp:

Does Auroracoin not respect the copyright owned by developers of different coins?

If you have received permission, why does the header not reflect this?

The license for Feathercoin was a special one which is why it is not transferable. We paid Sunny to do the implementation in Feathercoin and he granted us a special license where we did not have to include any copyright notices for Peercoin. The COPYING file from Peercoin copied in below is a bit different.

Apologies for the confusion I created over this. Auroracoin and others are well within their rights to use automatic checkpointing.

Quote
Copyright (c) 2011-2012 PPCoin Developers
Copyright (c) 2009-2012 Bitcoin Developers

Permission is hereby granted, free of charge, to any person obtaining a copy
of this software and associated documentation files (the "Software"), to deal
in the Software without restriction, including without limitation the rights
to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
copies of the Software, and to permit persons to whom the Software is
furnished to do so, subject to the following conditions:

The above copyright notice and this permission notice shall be included in
all copies or substantial portions of the Software.

THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN
THE SOFTWARE.


C-Morpheus
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April 04, 2014, 07:16:15 PM
 #4035

http://c-cex.com/i/c-cex_banner_250x250.gif

https://c-cex.com/
mullick
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April 04, 2014, 07:17:22 PM
 #4036

Cryptsy has updated our wallet and brought deposits/withdrawals back online Smiley

Happy trading!
Nite69
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April 04, 2014, 08:16:25 PM
 #4037

April 4th: Automatic checkpointing introduced.
Update ASAP to v. 1.3.0.0

Does this update fix the KGW timewarp attack?

This does not explicitly deal with TW. That will require a hard fork that will be introduced at a later date.

This ensures that such an attack (and 51% attacks) will be rendered useless. But the network needs to update to 1.3.0.0 for the protection to work. Also gives us time to carefully think through any changes we make.

I agree. Automatic checkpoints will prevent such attacks. However I don't like centralized checkpoints they are good solution at this time; they don't require hard fork so they gives more time to make the the TW fix effective and thus reduces the (albeit small) natural risks associated with all hard forks.

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April 04, 2014, 10:03:56 PM
 #4038

updated http://blockexplorer.auroracoin.eu to 1.3

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
Nite69
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April 04, 2014, 11:35:36 PM
 #4039


Also http://auroraexplorer.atorox.net/ is up to date with 1.3

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Litecoin: LhbDew4s9wbV8xeNkrdFcLK5u78APSGLrR
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hyeoam
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April 04, 2014, 11:36:54 PM
 #4040

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

Donate BTC: 1NRG17fYCNcfQvQHC3G9TUAowNKsM4oTWA
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