[ANN][RIC] Riecoin: constellations POW *CPU* HARD FORK successful, world record

[mhps]

Seems gatra was working on his prime finding POW since before XPM was even released.

https://bitcointalk.org/index.php?topic=245953.msg2628489#msg2628489

So it seems Sunny & gatra were thinking about the same thing at the same time. No clone here.

I never said Riecoin is a clone. When something is invented it often happens that many people are trying. There was a guy trying to make "curecoin" that would help cancer research but failed. The sucess of XPM definitely shows the way (and the pitfalls) to all future sci-cryptos. As a contribution of implementation details, XPM uses a by-product psudo-random number for fine adjustment of difficulty. I don't know if RIC uses it. It is a genius idea that many coins that don't use hash algorithms could borrow.

[1715693921]

1715693921

[mhps]

I don't know if you have mined Primecoin solo. In the first several months, old PCs can find Primecoin blocks. For those who are concerned with math and record, it is very cool that if you can find "your own" C-chain that is a contender of the world record, and have the hash signature, time stamp, and a cool address to show it.  It's just more fun.

OK, but that is a characteristic of the launch, not the coin. Every coin is un-minable solo eventually if it becomes popular.

The checkpoint in XPM is just a message broadcast mechanism that individual miners can opt out. I think it is turned off by default actually. It doesn't make a coin more centralized than an "offcial" talk thread here on bitcointal or a dedicated message board does. Don't confuse it with PPC's check point system. Sunny King has said the plan is phasing them out.
Primecoin unfortunately lacks it. I struggle to call them siblings, to me this is just too big of a distinction - half brothers maybe.

Please understand that I am listening to 2 mechanics explain to me the inner workings of a UFO's carburetor. From Riecoin.org: "A centralized checkpoint allows its controllers to perform double spends without any need for any % of hash rate. Can we be sure it will not be hacked and/or abused?". If its feasible that a central controller could double spend, to me that makes it all dependent on trust - just like gov fiat. So who do I believe here?

You can see what Sunny King said about the confusion here and more detailed explanation here I haven't read the source code.

Anyway credit should be given where it is due.  Riecoin is mildly interesting. Its difficulty will make the coin unpopular. Its market capitalization will suffer. There are many rare coins -- bitbars, novacoin, onecoin ... the unit price can be high but the price of many of these coins are controlled/manipulated by giant holders who got it cheap initially.

OK, no offense if I've misinterpreted your statement, but are you trying to deceive me here? I realize many new people are confused by these concepts, but I am not. Those coins are not actually rare, they just moved the decimal to the left, that has no relevance on distribution of the wealth in the system whatsoever. Distribution is determined by how many people got involved, when and how.

The Riecoin launch wasn't perfect, solo mining was impossible for an average person and pools were not yet set up. So like many many coins initial distribution was not the best. This has happened to many good coins, they succeed if those initial big holders sell and distribute. I've seen some big blocks of RIC get sold all at once, I've bought quite a few myself. I believe those big RIC stakes have shrunk significantly. I don't think those big holders are the manipulative type either, this was not a hyped coin. You'd want to make a big splash and draw in many suckers wouldn't you? And the way the launch happened with the 24hrs of no reward, Gatra personally had no opportunity to become the big stakeholder. Why would you create a coin for other random people to use as a scam? And what scammer would bother setting his machines to mine an under mentioned coin? I think what happened was a lot of math types running the university's giant machines got lucky, decided they had too many coins, and sold a whole bunch.

All crytpo currencies can be divided into many tiny pieces. When people say a coin is rare, it means that the total number of coins (in unit of one) in existence is small. I didn't say gatra benefited from a difficult coin. All I am saying is that its difficulty will have some likely consequences based on my observation of many coins and their players. Many of them don't hesitate manipulating in this wild west.

[windblow11]

The problem is that maybe in the future this coin can have GPU miner, even the dev said so, at that moment, the previous coins have been made from CPU-only way means little, I think that will cause the price dramatically dropping

[maxsolnc]

The problem is that maybe in the future this coin can have GPU miner, even the dev said so, at that moment, the previous coins have been made from CPU-only way means little, I think that will cause the price dramatically dropping

Riecoin doesn't have block rewards from 10K to 1M and block time of 1 minute. It can be as hard to mine RIC as LTC, for example.

[otila]

ypool.net web server down, but xptminer has been connected to 213.208.129.126:10034 ok..

is this normal memory usage for xptminer, or is there a leak or two? 
VmData:    5247728 kB

[tinus42]

ypool.net web server down, but xptminer has been connected to 213.208.129.126:10034 ok..

is this normal memory usage for xptminer, or is there a leak or two? 
VmData:    5247728 kB

The webserver has nothing to do with the pool server. It's a seperate service on the same machine.

[buryat]

is this normal memory usage for xptminer, or is there a leak or two? 
VmData:    5247728 kB

Yeah, might be a leak, mine reports
VmData:   20989376 kB

[Kenta]

The problem is that maybe in the future this coin can have GPU miner, even the dev said so, at that moment, the previous coins have been made from CPU-only way means little, I think that will cause the price dramatically dropping

My experience is that rather the opposite happens. As there's only a limited amount of coins released per time unit, the difficulty sky-rockets and it will be truly harder to mine with CPU - but the coins already mined will increase in value. Recent examples are DRK and MAX. Another example: Bitcoin

That's why we should use the opportunity to mine/buy and keep as much as possible now, before the hashfactories/GPU's enter the market.

[otila]

ypool.net web server down, but xptminer has been connected to 213.208.129.126:10034 ok..

is this normal memory usage for xptminer, or is there a leak or two? 
VmData:    5247728 kB

The webserver has nothing to do with the pool server. It's a seperate service on the same machine.

I did not say they have something to do with each others. My point was that at least network connectivity works to that address.
And ypool webserver is back online.

[remistevens]

I don't know if you have mined Primecoin solo. In the first several months, old PCs can find Primecoin blocks. For those who are concerned with math and record, it is very cool that if you can find "your own" C-chain that is a contender of the world record, and have the hash signature, time stamp, and a cool address to show it.  It's just more fun.

OK, but that is a characteristic of the launch, not the coin. Every coin is un-minable solo eventually if it becomes popular.

The checkpoint in XPM is just a message broadcast mechanism that individual miners can opt out. I think it is turned off by default actually. It doesn't make a coin more centralized than an "offcial" talk thread here on bitcointal or a dedicated message board does. Don't confuse it with PPC's check point system. Sunny King has said the plan is phasing them out.
Primecoin unfortunately lacks it. I struggle to call them siblings, to me this is just too big of a distinction - half brothers maybe.

Please understand that I am listening to 2 mechanics explain to me the inner workings of a UFO's carburetor. From Riecoin.org: "A centralized checkpoint allows its controllers to perform double spends without any need for any % of hash rate. Can we be sure it will not be hacked and/or abused?". If its feasible that a central controller could double spend, to me that makes it all dependent on trust - just like gov fiat. So who do I believe here?

You can see what Sunny King said about the confusion here and more detailed explanation here I haven't read the source code.

Thanks, I've seen similar statements from Sunny elsewhere too. Even one where he was claiming RIC is based off his work. I guess I'm ultimately left with 2 UFO mechanics with disparate claims.

There are many rare coins -- bitbars, novacoin, onecoin ... the unit price can be high but the price of many of these coins are controlled/manipulated by giant holders who got it cheap initially.

I understand how the integers work and what people mean by rare. What I was asking about was this point. It sounded to me like you're saying rare coins suffer from greater wealth concentration. I haven't heard that before and wondered why that would happen?

My point about Gatra and the launch was that if RIC is being manipulated by big wallets its either by a scammer who got there by accident, or someone who wasn't a scammer but has now decided to become one just this week. Less of a risk than many other new coins.

[mhps]

There are many rare coins -- bitbars, novacoin, onecoin ... the unit price can be high but the price of many of these coins are controlled/manipulated by giant holders who got it cheap initially.

I understand how the integers work and what people mean by rare. What I was asking about was this point. It sounded to me like you're saying rare coins suffer from greater wealth concentration. I haven't heard that before and wondered why that would happen?

My point about Gatra and the launch was that if RIC is being manipulated by big wallets its either by a scammer who got there by accident, or someone who wasn't a scammer but has now decided to become one just this week. Less of a risk than many other new coins.

Coins are rare usually because  the difficulty increases very fast after initial release so later comers don't have a chance to mine much. Often those who holds the pre-mined or insta-mined coins dominate the market.

Many know the new coin sequence of action well so they target new coins that have a good story to tell, mine like hell while the difficult is low, pump the coin before  myths are debunked, and dump as the price surge. You don't seem to realize how many players are  here well prepared for a business. They are not here by accident.

[remistevens]

There are many rare coins -- bitbars, novacoin, onecoin ... the unit price can be high but the price of many of these coins are controlled/manipulated by giant holders who got it cheap initially.

I understand how the integers work and what people mean by rare. What I was asking about was this point. It sounded to me like you're saying rare coins suffer from greater wealth concentration. I haven't heard that before and wondered why that would happen?

My point about Gatra and the launch was that if RIC is being manipulated by big wallets its either by a scammer who got there by accident, or someone who wasn't a scammer but has now decided to become one just this week. Less of a risk than many other new coins.

Coins are rare usually because  the difficulty increases very fast after initial release so later comers don't have a chance to mine much. Often those who holds the pre-mined or insta-mined coins dominate the market.

Thats a comment on the rate of inflation, not rarity. You're talking about how much new wealth is created in relation to what already exists. Again, location of the decimal place is irrelevant to that.

Many know the new coin sequence of action well so they target new coins that have a good story to tell, mine like hell while the difficult is low, pump the coin before  myths are debunked, and dump as the price surge. You don't seem to realize how many players are  here well prepared for a business. They are not here by accident.

My point is that this was a less advantageous place to do that. "They" are not a team. There was no inside track with Riecoin. All manipulators would have had an equal shot at this, meaning there would be no monopolists.

[remistevens]

Hey guys!

Lazycoins.com is a new exchange launching soon. If you want to see Riecoin get listed there then make a new thread for the coin and upvote it on reddit.com/r/lazycoins or tweet the coin to @LazyCoins! Follow us to stay updated the moment we launch!

Cheers!

no, thanks. We need bter/cryptsy and btc-e only.

Why? What is the harm in being listed on smaller exchanges?

[refer_2_me]

Hey guys!

Lazycoins.com is a new exchange launching soon. If you want to see Riecoin get listed there then make a new thread for the coin and upvote it on reddit.com/r/lazycoins or tweet the coin to @LazyCoins! Follow us to stay updated the moment we launch!

Cheers!

no, thanks. We need bter/cryptsy and btc-e only.

Why? What is the harm in being listed on smaller exchanges?

There have been a number of small exchanges recently that got 'hacked' and walked with everyones coins. That's the harm.

[remistevens]

Hey guys!

Lazycoins.com is a new exchange launching soon. If you want to see Riecoin get listed there then make a new thread for the coin and upvote it on reddit.com/r/lazycoins or tweet the coin to @LazyCoins! Follow us to stay updated the moment we launch!

Cheers!

no, thanks. We need bter/cryptsy and btc-e only.

Why? What is the harm in being listed on smaller exchanges?

There have been a number of small exchanges recently that got 'hacked' and walked with everyones coins. That's the harm.

Sure, that makes sense.

[baokychen]

Riecoin Big Expose.

-- When rie coin first started, the block was not even able to mine by solo mining or wallet mining.
It was so hard, until ypool jh00 created a optimize miner and we start getting blocks.


But did you realise that the block keep increasing despite we using the "rminerd" that is given to us by the Developer.

What I think is the developer got his own optimized miner and he mine all the block at early stage of Riecoin and we the miner here are given a broken miner.
If nobody was getting blocks at start, why is the block keep increasing so fast despite the miner is broken.

Think about it, nowadays a lot of "zero premine" coin like Maxcoin, Riecoin

but when they initially start, the miner or wallet sure have issues with mining, yet the blocks keep increasing.

What I believe is that this is a scam coin, if you notice RieCoin been keep dumping the way down. Nothing from developer, on the first page or its website, its just a coin where he use optimized miner and get over 10,000 rie coin at start and then dump at the price is right, while was the miner are stupid to believe that this coin is actually fair.

The developer himself probably make over 10 BTC by selling the premine Riecoin (by giving us broken miner and he himself use the actual algo miner) .

The pattern is quite similar to Maxcoin where they say zero premine yet the node cant sync, cant mine at start etc.


At here, we are given a broken miner only until ypool jh00 release his version. I am sure the developer of riecoin does not use the broken miner. It was meant to keep us getting the coin slow compare to him.

If you think what I say is true, please repost it.

[trny]

Riecoin Big Expose.

If you think what I say is true, please repost it.

The first 576 blocks had no reward, and the rewards of the next 576 linearly increased, reaching the full reward at block 1152. Many solo miners were having trouble setting up rminerd but started finding blocks way before rewards hit the peak. The mysterious way RIC has been "dumping the way down" is due to botnet/Amazon EC2 farm owners for whom mining RIC with multiple thousand cores is still profitable.

If you check riecoin.org, you'll see that the dev has added links to new services that have cropped up in the last couple of days. He also committed fixes regarding transaction malleability and other issues to the GitHub project just yesterday. gatra has been lurking around here developing RIC's unique PoW for ~1/2 a year. Hard to believe a premine dump around ~10-20 BTC is what all his work was for.

[one4many]

Riecoin Big Expose.
speculation without proof and general whining and crying deleted ...
If you think what I say is true, please repost it.

I think you don't have a clue. I started mining with the stock wallet miner after the 'zero RIC' blocks where gone (with 48 cores) and found 1 block a day later.
Only after ypool came online, I switch more cores from XPM to RIC. Since then I found 3 blocks with ypool and got around ~150 RIC for that, mining in the pool.

If someone would have a highly optimized miner:
a) If would have received far less than 150 RIC mining in the pool
and more importantly
b) ypool it self would see a lot less blocks mined

If you are still not convinced search the blockchain for suspicious transactions ... I bet you won't find any.

Now take the tinfoil hat of get outside and breathe some fresh air!

   one4many

[remistevens]

2 new topics in Rieforum.com, Rieforum Discussion: Bounties and Add requests.

We'd love to hear your thoughts and suggestions!

[CryptoBeggar]

Just a thought from my behalf:

This coin should probably relaunch in a more favorable conditions. Currently, we almost have no updates, and the price is dumped so low it is risky to involve too much of a free time to get a better insight in how this algorithm works and in what way we could improve it for the community.

Another thing I didn't like about this coin was the dedicated miner which appeared along with the wallet, without any clear documentation or at least performance comparison. With ambitiously long block time, this leads to a lot of miners giving up as they are finding no blocks at all and again have no chance or time to analyze the coding provided.

The market of RIE clearly shows the biggest miners are getting a lot of this coin and at almost no cost, which is a clear indication of botnets riding on the wave of initial hype coming with this new POW.

The concept of the coin definitely is promising and I appreciate some of you are trying to build a community, but maybe we should think of relaunching the coin. If we are aiming at the increasingly high results, this algorithm might be changed to have ever increasing block time to some soft limit (say 10 minutes). That might enable finding relatively fast blocks at the beginning, attracting more interested miners, and as the time passes, aiming for the real records.

Yours, CB