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Whoever mines the block which ends up containing your transaction will get its fee.
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Xamda
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February 28, 2014, 03:28:16 PM |
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mindfox
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February 28, 2014, 03:34:57 PM |
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Now, THIS is something I would expect the coin developers team to answer. If they don't feel the responsibility to explain how cryptocurrency works to their users, then I say let it die. Honestly, I'm too tired of this. You guys let the greed blind you and you fail to see what is happening. Let me explain it to you in simple words. Suppose I gave you a machine that prints US dollars. Real US dollars. And in a completely legal way (if possible). And you started to print for yourself, your friends and family... How long do you think it would take for the US dollar to have the value of a little more than a photocopy's cost? That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so? And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified. In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed? Think about that... |
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Xamda
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February 28, 2014, 03:51:22 PM |
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Now, THIS is something I would expect the coin developers team to answer. If they don't feel the responsibility to explain how cryptocurrency works to their users, then I say let it die. Honestly, I'm too tired of this. You guys let the greed blind you and you fail to see what is happening. Let me explain it to you in simple words. Suppose I gave you a machine that prints US dollars. Real US dollars. And in a completely legal way (if possible). And you started to print for yourself, your friends and family... How long do you think it would take for the US dollar to have the value of a little more than a photocopy's cost? That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so? And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified. In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed? Think about that... It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not... |
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mindfox
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February 28, 2014, 03:58:34 PM |
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That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so?
And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified.
In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed?
Think about that...
It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not... [/quote] I clearly stated that he has the power to do whatever he likes, not that it is happening automatically. If he wants, he can make the blockchain go back in time (say even 100 blocks) and create a fork. Many things one can do with such a huge take over. Didn't you see what happened with CEX.IO some weeks ago? They stopped accepting new registrations because they were near 33%, not the situation we are having in our hands with Thor coin. Read the white papers about how cryptocurrency works. We all need to do it. It's not so simple as: Mine with the strongest... There are rules that if broken, the whole system falls apart. |
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Xamda
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February 28, 2014, 04:04:50 PM |
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That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so?
And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified.
In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed?
Think about that...
It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not... I clearly stated that he has the power to do whatever he likes, not that it is happening automatically. If he wants, he can make the blockchain go back in time (say even 100 blocks) and create a fork. Many things one can do with such a huge take over. Didn't you see what happened with CEX.IO some weeks ago? They stopped accepting new registrations because they were near 33%, not the situation we are having in our hands with Thor coin. Read the white papers about how cryptocurrency works. We all need to do it. It's not so simple as: Mine with the strongest... There are rules that if broken, the whole system falls apart. [/quote] That is assuming CryptoPool.eu are bad guys out there to create chaos or kill the coin.... Several coins have total domination by one pool and they are doing quite well. CryptoPool.eu is not accepting new users and therefore this problem should be deminishing over time. What would like them to do? Throw out miners alredy mining there? |
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ClutchThese
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February 28, 2014, 04:13:21 PM |
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Now, THIS is something I would expect the coin developers team to answer. If they don't feel the responsibility to explain how cryptocurrency works to their users, then I say let it die. Honestly, I'm too tired of this. You guys let the greed blind you and you fail to see what is happening. Let me explain it to you in simple words. Suppose I gave you a machine that prints US dollars. Real US dollars. And in a completely legal way (if possible). And you started to print for yourself, your friends and family... How long do you think it would take for the US dollar to have the value of a little more than a photocopy's cost? That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so? And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified. In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed? Think about that... It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not... Xamda... just stop. Just because they don't find ALL the blocks, doesn't mean they can't control it. What will happen if their site is hacked? their server is hacked? Are you going to say "you were right" then? I suppose you would just rather sit back and let it happen? No, the community needs to stand together and spread the hash evenly. There are plenty of pools to join. Sure you may not get as many pieces of the pie by going to another pool now, but you'll increase the health of the coin in the future, thus making it more valuable. |
Signature for Rent - PM if Interested
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mindfox
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February 28, 2014, 04:19:38 PM |
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That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so?
And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified.
In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed?
Think about that...
It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not... I clearly stated that he has the power to do whatever he likes, not that it is happening automatically. If he wants, he can make the blockchain go back in time (say even 100 blocks) and create a fork. Many things one can do with such a huge take over. Didn't you see what happened with CEX.IO some weeks ago? They stopped accepting new registrations because they were near 33%, not the situation we are having in our hands with Thor coin. Read the white papers about how cryptocurrency works. We all need to do it. It's not so simple as: Mine with the strongest... There are rules that if broken, the whole system falls apart. That is assuming CryptoPool.eu are bad guys out there to create chaos or kill the coin.... Several coins have total domination by one pool and they are doing quite well. CryptoPool.eu is not accepting new users and therefore this problem should be deminishing over time. What would like them to do? Throw out miners alredy mining there? [/quote] What you just said is the key to a coin's success or destruction. Assuming. Do you give your money to a bank without a receipt? a) If you do, good luck with that. b) If you don't, why don't you? Is it because you assume that the bank will keep the money for itself since there's no evidence that they are yours? In Market's world, there is no "assuming". There is "insuring". And the coin as it is right now is the exact opposite. As to what I want cryptopool to do, I don't want them to do anything. It's their mess, let them clean it. I am just trying to understand whether it worths it to keep supporting a coin that is not supported by the founders as it should, or not. |
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Thorcoin (OP)
Member
 Offline
Activity: 67
Merit: 10
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February 28, 2014, 04:30:17 PM |
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ClutchThese
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February 28, 2014, 04:33:25 PM |
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lol
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Signature for Rent - PM if Interested
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Stoxcoin
Newbie
Offline
Activity: 28
Merit: 0
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February 28, 2014, 05:41:26 PM |
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I have rearranged CryptoPool.eu to the bottom of the pool list at http://thorcoin.org/pools.html until the hash spreads out. The QQ groups need to be added. |
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Stoxcoin
Newbie
Offline
Activity: 28
Merit: 0
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February 28, 2014, 06:02:17 PM |
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mindfox
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February 28, 2014, 08:29:59 PM |
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I saw that in your site you have the command line also. Could you change the stratum as well? stratum.thor.pools.mindfox.net:3342I wish I knew that page, I would have asked you before. No wonder I'm chasing flies  |
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dannygast
Member
Offline
Activity: 98
Merit: 10
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February 28, 2014, 10:34:50 PM |
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Now, THIS is something I would expect the coin developers team to answer. If they don't feel the responsibility to explain how cryptocurrency works to their users, then I say let it die. Honestly, I'm too tired of this. You guys let the greed blind you and you fail to see what is happening. Let me explain it to you in simple words. Suppose I gave you a machine that prints US dollars. Real US dollars. And in a completely legal way (if possible). And you started to print for yourself, your friends and family... How long do you think it would take for the US dollar to have the value of a little more than a photocopy's cost? That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so? And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified. In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed? Think about that... It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not... Xamda... just stop. Just because they don't find ALL the blocks, doesn't mean they can't control it. What will happen if their site is hacked? their server is hacked? Are you going to say "you were right" then? I suppose you would just rather sit back and let it happen? No, the community needs to stand together and spread the hash evenly. There are plenty of pools to join. Sure you may not get as many pieces of the pie by going to another pool now, but you'll increase the health of the coin in the future, thus making it more valuable. Xamda, Could you please read, and understand what is said here.... this guy knows what can happen, and is not accusing anyone. And what would you do, if you had this god powers,... |
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Xamda
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March 01, 2014, 01:07:10 AM |
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Now, THIS is something I would expect the coin developers team to answer. If they don't feel the responsibility to explain how cryptocurrency works to their users, then I say let it die. Honestly, I'm too tired of this. You guys let the greed blind you and you fail to see what is happening. Let me explain it to you in simple words. Suppose I gave you a machine that prints US dollars. Real US dollars. And in a completely legal way (if possible). And you started to print for yourself, your friends and family... How long do you think it would take for the US dollar to have the value of a little more than a photocopy's cost? That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so? And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified. In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed? Think about that... It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not... Xamda... just stop. Just because they don't find ALL the blocks, doesn't mean they can't control it. What will happen if their site is hacked? their server is hacked? Are you going to say "you were right" then? I suppose you would just rather sit back and let it happen? No, the community needs to stand together and spread the hash evenly. There are plenty of pools to join. Sure you may not get as many pieces of the pie by going to another pool now, but you'll increase the health of the coin in the future, thus making it more valuable. Xamda, Could you please read, and understand what is said here.... this guy knows what can happen, and is not accusing anyone. And what would you do, if you had this god powers,... I have read and I understand, but I beg to differ. I know too what CAN happen, but that would require that this pool was in it to destroy the currency, which is highly unlikely. And if I had these "God powers", I would not destroy the currency since I am in it for the money... This situation occurs from time to time with altcoins and still these coins are alive and well, because there is no gain in disrupting the currencies. If miners would just choose another pool, the problem would be solved, but the miners want most bang for the buck and go with the pools they believe will deliver this. I understand the concept of 51% attacks, but I think the risk for them to actually happen is rather small. I will always choose the pool that will bring me the most profit, which does not necessarily has to be the largest pool. What I asked earlier in this thread was also - what can this pool do? Kick out the miners to make them go elsewhere...? Do you really think that would benefit them? The other pools just have to offer something better and then miners will start spreading the hashing... |
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ClutchThese
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March 01, 2014, 01:10:49 AM |
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I G M baby!
I got mine!
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Signature for Rent - PM if Interested
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koteka
Newbie
Offline
Activity: 4
Merit: 0
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March 01, 2014, 06:27:03 AM |
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hasratte
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ronaldinho_07
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March 01, 2014, 06:40:52 AM |
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devs,please use the premine to make this coin on a bigger exchange
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albertdros
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March 01, 2014, 09:14:31 AM |
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n factor change today right?
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