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

[Bigtruck45]

https://www.youtube.com/watch?v=UYkLz8BIS8k

Is there a pattern to prime number distribution?

[northranger79510]

difficulty to drop in 10 hours (at current rate of 6 mins/block)

Thatll suck

[northranger79510]

Update: Since I've been getting more response than expected for Riecoin Foundation, sign up will close this Sunday and the Riecoin Foundation will begin creating the trustless system for donations. Any suggestions is welcome!

[surfer43]

Can't we use a multi-signature address rather than an exchange? Although complicated, it seems like it would be much simpler than the exchange. Also, people would be able to verify the funds are at that address.

[northranger79510]

Can't we use a multi-signature address rather than an exchange? Although complicated, it seems like it would be much simpler than the exchange. Also, people would be able to verify the funds are at that address.

I didn't think of that! Great idea! I am assuming Riecoin client has that option correct?

[surfer43]

Can't we use a multi-signature address rather than an exchange? Although complicated, it seems like it would be much simpler than the exchange. Also, people would be able to verify the funds are at that address.

I didn't think of that! Great idea! I am assuming Riecoin client has that option correct?

yes I just tested it  . To learn how to use multi-signature addresses, go here

Also, difficulty is going to halve to about 1456 in 20 something blocks (if my math is correct, that is). Get ready to mine!

[GreekBitcoin]

How many confirmations does upCpu pool needs to send mined RIC?

[northranger79510]

Can't we use a multi-signature address rather than an exchange? Although complicated, it seems like it would be much simpler than the exchange. Also, people would be able to verify the funds are at that address.

I didn't think of that! Great idea! I am assuming Riecoin client has that option correct?

yes I just tested it  . To learn how to use multi-signature addresses, go here

Also, difficulty is going to halve to about 1456 in 20 something blocks (if my math is correct, that is). Get ready to mine!

Well ok. Guess we have a nice way to do the donations. I will be PMing all those on the list and hopefully we can come to mutual agreement on this. And darn. Hopefully low difficulty doesn't make it easier for people to pump and dump.

[bitcoinvideos]

I think it's hard for people not to pump and dump in general. They invest energy + resources and expect a return so the moment they can they dump. The people involved in developing a thriving community continue to hold (myself included). Looking forward to your PM (I have a diff u/n on rietalk)

[northranger79510]

I wonder if there is a way for the multi sig to be configured to accept a majority of the sig and not everyone's (forgive me if there is. Never used a multi-sig address). I think that would be better in case one person holding a key has a family emergency, vanished, died, etc. Then, the foundation wouldn't be able to access the funds.

[surfer43]

I wonder if there is a way for the multi sig to be configured to accept a majority of the sig and not everyone's (forgive me if there is. Never used a multi-sig address). I think that would be better in case one person holding a key has a family emergency, vanished, died, etc. Then, the foundation wouldn't be able to access the funds.

AFAIK this is possible: https://en.bitcoin.it/wiki/Original_Bitcoin_client/API_calls_list
Say we use 5 people.
use

Code:

riecoind addmultisigaddress 3 '["publicKey1","publicKey2","publicKey3","publicKey4","publickey5"]'

To add a multisig address that requires 3 out of the 5 people to agree the funds should be spent.

Can someone knowledgeable on this subject confirm?

btw, about 10 blocks left until diff adjustment.

Never used a multi-sig address

Me neither. It just popped out of the back of my head, and then I researched it. 

[bitcoinvideos]

Check out this message which explains it nicely too: https://bitcointalk.org/index.php?topic=82213.msg906833#msg906833

You can then send funds into that 2-of-3 transaction using the normal sendtoaddress/sendmany RPC commands, or the GUI (or anything that's been updated to recognize multisig addresses).

That will create a multi signature transaction.

If you want to then SPEND the funds sent in that 2-of-3 transaction... that isn't implemented yet (well, if bitcoin has all 3 private keys in it's wallet then the funds will show up in the wallet's total balance and it may be selected to be spent like any other funds received by the wallet). "We" need to implement RPC calls to implement BIP 10 or something like it.

So it looks like maybe the spend isn't there yet?

[northranger79510]

I wonder if there is a way for the multi sig to be configured to accept a majority of the sig and not everyone's (forgive me if there is. Never used a multi-sig address). I think that would be better in case one person holding a key has a family emergency, vanished, died, etc. Then, the foundation wouldn't be able to access the funds.

AFAIK this is possible: https://en.bitcoin.it/wiki/Original_Bitcoin_client/API_calls_list
Say we use 5 people.
use

Code:

riecoind addmultisigaddress 3 '["publicKey1","publicKey2","publicKey3","publicKey4","publickey5"]'

To add a multisig address that requires 3 out of the 5 people to agree the funds should be spent.

Can someone knowledgeable on this subject confirm?

btw, about 10 blocks left until diff adjustment.

Never used a multi-sig address

Me neither. It just popped out of the back of my head, and then I researched it. 

Excellent! Looks like we have a winner. But all foundation members should agree (or majority) in case someone thinks of a better idea. I will be PMing those on the list on Monday. Looks like we are ahead of schedule. Thanks surfer for your contributions!

[surfer43]

Check out this message which explains it nicely too: https://bitcointalk.org/index.php?topic=82213.msg906833#msg906833

You can then send funds into that 2-of-3 transaction using the normal sendtoaddress/sendmany RPC commands, or the GUI (or anything that's been updated to recognize multisig addresses).

That will create a multi signature transaction.

If you want to then SPEND the funds sent in that 2-of-3 transaction... that isn't implemented yet (well, if bitcoin has all 3 private keys in it's wallet then the funds will show up in the wallet's total balance and it may be selected to be spent like any other funds received by the wallet). "We" need to implement RPC calls to implement BIP 10 or something like it.

So it looks like maybe the spend isn't there yet?

I think it is, this explains how to spend: https://gist.github.com/gavinandresen/3966071
That was written much later than the post you linked.

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[surfer43]

diff down to 1504

[bitcoinvideos]

diff down to 1504

Excellent for us low level miners!

[surfer43]

diff down to 1504

Excellent for us low level miners!

profit factor is through the roof!
avg. block time = 180
target time = 150
this means diff will go down even further at current rates 

and RIC shows no signs of going below 0.25 milibits! 0.25 is resistance.

Yes, I will hodl these coins long term.

[trny]

Check out this message which explains it nicely too: https://bitcointalk.org/index.php?topic=82213.msg906833#msg906833

You can then send funds into that 2-of-3 transaction using the normal sendtoaddress/sendmany RPC commands, or the GUI (or anything that's been updated to recognize multisig addresses).

That will create a multi signature transaction.

If you want to then SPEND the funds sent in that 2-of-3 transaction... that isn't implemented yet (well, if bitcoin has all 3 private keys in it's wallet then the funds will show up in the wallet's total balance and it may be selected to be spent like any other funds received by the wallet). "We" need to implement RPC calls to implement BIP 10 or something like it.

So it looks like maybe the spend isn't there yet?

I think it is, this explains how to spend: https://gist.github.com/gavinandresen/3966071
That was written much later than the post you linked.

Found this beta open source multisig address generator for BTC: https://coinb.in/multisig/

Perhaps someone could look into forking it for RIC. We don't even need to use it, it'd still be a valuable asset

[primer-]

Since ypool has most of the hashing power and this is not good i want to mine in other pool.

But is there any other stable pool? Which? And how much less income do you expect to have in other pool?

income depends on the fee of the pool
why would you expect less income?

http://ric.upcpu.com/ already has 4 blocks

Too many invalid shares on upcpu (almost 400ms latency from Europe), we need an EU server! Willing to donate, upcpu owner contact me via pm

EDIT : 35% of shares submitted are invalid due to latency! Current server is hosted in China, we need both US and EU servers ASAP!

EDIT 2: Pool is unusable for anyone outside of China, latency fluctuates up to 5000ms and invalid shares are over 70%