[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[CharityMiningPools]

CharityMiningPools - Donate to Charity while you Mine!

888.charityminingpools.com

PROMOTION!
0% Lifetime Octocoin Pool Fees for the 1st 88 Miners who sign up and Mine at our Pool!
* This does not apply to the Mandatory 0.8% Donation Fee to Charity, only Pool Fees

BRAND NEW - Need Miners!
Be a pioneer and help us get started, come mine while making a difference.  

Mandatory 0.8% donation fee goes to The Water Project this month.  We welcome and encourage you to donate more to a good cause.

SSL, STRATUM, VARDIFF, Datacenter Redundant Server Farm, Load Balanced Servers, Frequent Backups, DDOS Protection
0.8% Mandatory Donation fee to a Good Cause, 0.8% Pool Fees (0% lifetime for 1st 88 Miners who sign up and Mine), 0% AP TX Fees

Who Are We?
CharityMiningPools was created to allow miners the ability to mine coins while still knowing that their hashing power is going towards something good.  Our goal is to provide a positive and reliable service while delivering a small portion of the proceeds to a deserving recipient.  Plans are in the works to allow individual miners to choose where they would like to donate to based on a pool of available recipients.

How Does This Work?
All coins minded at CharityMiningPools will require a mandatory 0.5% Donation fee.  This donation fee will be collected and donated to the designated charitable recipient for that given month.  Though we only require a minimum 0.5% Donation fee, we welcome and encourage our miners to raise the stakes and donate more to a good cause.

Cheers!
CharityMiningPools

[Radi777]

Keep voting on cryptorush, come on guys!

[edric]

Don't forget to mine with us at http://octocoinpool.tk for your chance at our 25% giveaway tomorrow! We'll be doing it every week but we're looking for some other kind of promotion to offer as well!

Also, forgot to mention, since blocks went down to 88, the pool's promotional .5% fee has ended and is now 1%. I honestly hate to do that but you would be surprised how much of nothing we're making!


If anyone would like to donate to add to the giveaway fund and to the server fee/replace Edric's broken GPU fund, it's all appreciated!!

888: 8SEk9vK2cEVtHU2W568rVqTPgKMU9gk7Tc

[gamerzone]

now it give 88 coin only instead of 888

 

time to run

[frameLAlife]

88 per block and 1/8 chance to win the 888 block. Still tons of coins to earn.

[niothor]

I don't understand what's going on
Where's the community supporting this coin?

With you activity rating , Im sure there are lots of things you don't understand.

[homey108]

Why does the everyone and especially the DEV ignore the elephant in the room?  FusionHash has almost never been under 50% of the total hash. Usually they are in the 80+ range and often well above 90% of the total hash.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

First of all, there is some confusion here on what exactly a 51% attack is. Double-spends are a concern if we're talking about a malicious pool operator but FusionHash has an impeccable reputation and maliciously abusing their position would be senseless to their long-term business plan. Also, while it may be true that at one point they had over 90% of the total hash, as you may have noticed, there was no fork/etc - there are a lot of misconceptions surrounding what exactly a 51% attack is capable of and I suggest doing additional research on the topic.

I think it's time for the DEV to disclose any relationship with fusionhash. I for one was surprised to see him/her making announcements on behalf of fusionhash throughout this thread. Is the dev also running fusionhash? What is the relationship if this is not the case? Part of the 8 unknown people behind this coin? If anyone doubts me, quickly check through this thread before the dev's posts are deleted or edited and you can see for yourself where he has been reporting on their behalf.

Our relationship to FusionHash is that we reached out to them 2 weeks before we launched OctoCoin and asked if they would be one of our launch pools. Mining pools are only a small part of their business model as they are building a large rent-a-hash operation, an exchange, coin hosting services, and more...but everybody speaks very highly of FusionHash which is why we specifically reached out to them. Also, we knew it would be great for marketing. The majority of OctoCoin miners were mining in that pool so when my inbox began to fill up with people upset about delayed payouts, I contacted the owner of FusionHash to help sort it out. I doubt they even have an account here - I wanted to make an announcement regarding an issue that was affecting a number of people mining the coin we just launched. I'm surprised anybody would have an issue with that.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

No elephants in this room. Look - people are going to mine where they want to mine. If it actually becomes an issue, we will address it...but it's nowhere near an issue. People need to educate themselves on these things and react accordingly. We are very serious about OctoCoin and if we thought any of this was a threat to its future (even short-term future) we would have addressed it by now.

More to come later...

Thanks for responding.

I completely disagree with ignoring the issue of having one pool with a substantially higher share of the total hashrate. It makes no sense to ignore this regardless of your faith in the admin(s).  It's 's not like it has been a rare occurrence. In fact it would've been almost impossible to ever find a time when they didn't have a lot more of the total hashrate. As I write this they have just about 80% of the total which has been a completely common value throughout the last week. Ignoring issues doesn't make them go away.

If they are so ethical, why haven't they made any effort to deal with the issue?

[TheOldDevilMoon]

Expected payoff / block = 88 + (888 * 1/8) = 199. 

Roughly 1/4 of what is was - all else equal, difficulty should be 1/4 of what it was before the switch, right?

[SuperSta]

Why does the everyone and especially the DEV ignore the elephant in the room?  FusionHash has almost never been under 50% of the total hash. Usually they are in the 80+ range and often well above 90% of the total hash.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

First of all, there is some confusion here on what exactly a 51% attack is. Double-spends are a concern if we're talking about a malicious pool operator but FusionHash has an impeccable reputation and maliciously abusing their position would be senseless to their long-term business plan. Also, while it may be true that at one point they had over 90% of the total hash, as you may have noticed, there was no fork/etc - there are a lot of misconceptions surrounding what exactly a 51% attack is capable of and I suggest doing additional research on the topic.

I think it's time for the DEV to disclose any relationship with fusionhash. I for one was surprised to see him/her making announcements on behalf of fusionhash throughout this thread. Is the dev also running fusionhash? What is the relationship if this is not the case? Part of the 8 unknown people behind this coin? If anyone doubts me, quickly check through this thread before the dev's posts are deleted or edited and you can see for yourself where he has been reporting on their behalf.

Our relationship to FusionHash is that we reached out to them 2 weeks before we launched OctoCoin and asked if they would be one of our launch pools. Mining pools are only a small part of their business model as they are building a large rent-a-hash operation, an exchange, coin hosting services, and more...but everybody speaks very highly of FusionHash which is why we specifically reached out to them. Also, we knew it would be great for marketing. The majority of OctoCoin miners were mining in that pool so when my inbox began to fill up with people upset about delayed payouts, I contacted the owner of FusionHash to help sort it out. I doubt they even have an account here - I wanted to make an announcement regarding an issue that was affecting a number of people mining the coin we just launched. I'm surprised anybody would have an issue with that.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

No elephants in this room. Look - people are going to mine where they want to mine. If it actually becomes an issue, we will address it...but it's nowhere near an issue. People need to educate themselves on these things and react accordingly. We are very serious about OctoCoin and if we thought any of this was a threat to its future (even short-term future) we would have addressed it by now.

More to come later...

Thanks for responding.

I completely disagree with ignoring the issue of having one pool with a substantially higher share of the total hashrate. It makes no sense to ignore this regardless of your faith in the admin(s).  It's 's not like it has been a rare occurrence. In fact it would've been almost impossible to ever find a time when they didn't have a lot more of the total hashrate. As I write this they have just about 80% of the total which has been a completely common value throughout the last week. Ignoring issues doesn't make them go away.

If they are so ethical, why haven't they made any effort to deal with the issue?

I think he's taking the "Let the shit hit the fan, then we'll deal with it" approach. Lifeforce could really use some extra hashes if you change your mind. We dropped quite a bit in hashes when the big miners left. If you don't help us now, we will probably die out, and instead of Octocoin being active on 3 pools it will be 2 pools, then soon after 1? I hope you act, but if you don't I'll stop trying and refocus my attention elsewhere.

[SuperSta]

http://octo.lifeforce.info

System: Prop Stratum VarDiff
Pay Interval: Every 5 Minutes (for confirmed blocks)
Fee: 0%

[dmp]

Vote on https://www.cryptorush.in/index.php?p=vote please. Help me up in 12 hours

[Stonerboy]

so hope this time we will hit cryptorush 

[dmp]

i prepeared around 0.5 btc for voting

[MaGNeT]

Vote on https://www.cryptorush.in/index.php?p=vote please. Help me up in 12 hours

It's easy to get high in the voting on Cryptorush

P.S. Coins that are caught cheating. (aka bots voting) will be disqualified and automatically removed from the list at the end of the voting cycle.

Just cheat on other coins and they get removed
In other words: don't waste a coin on that exchange.

[makishart]

vote and mine!!! diff is low!

[th0ms0n]

Unfortunately, most exchanges determine which coins to add based on voting now. We assumed we would have pull at Cryptsy, for example, since I am one of the largest shareholders there. Regardless, it sounds like even at Cryptsy we will have to go through the voting process. We really need the assistance of the community here as the next phase of our project will rely on OctoCoin being more liquid (which requires higher volume exchanges.)

Why not just buy some votes at mintpal, cryptorush etc? If you're one of the largest shareholders at cryptsy, that shouldnt have much of an impact on your wallet, right?

[homey108]

Vote on https://www.cryptorush.in/index.php?p=vote please. Help me up in 12 hours

It's easy to get high in the voting on Cryptorush

P.S. Coins that are caught cheating. (aka bots voting) will be disqualified and automatically removed from the list at the end of the voting cycle.

Just cheat on other coins and they get removed
In other words: don't waste a coin on that exchange.

Never a reason to cheat and people should be wary of cryptorush anyway. If in doubt check out the Zeitcoin thread and see what happened to many cryptorush users there. It's not worth risking your coins on mickey mouse exchanges in my opinion.

[niothor]

Vote on https://www.cryptorush.in/index.php?p=vote please. Help me up in 12 hours

It's easy to get high in the voting on Cryptorush

P.S. Coins that are caught cheating. (aka bots voting) will be disqualified and automatically removed from the list at the end of the voting cycle.

Just cheat on other coins and they get removed
In other words: don't waste a coin on that exchange.

I like your plans

[frameLAlife]

Vote on https://www.cryptorush.in/index.php?p=vote please. Help me up in 12 hours

It's easy to get high in the voting on Cryptorush

P.S. Coins that are caught cheating. (aka bots voting) will be disqualified and automatically removed from the list at the end of the voting cycle.

Just cheat on other coins and they get removed
In other words: don't waste a coin on that exchange.

Never a reason to cheat and people should be wary of cryptorush anyway. If in doubt check out the Zeitcoin thread and see what happened to many cryptorush users there. It's not worth risking your coins on mickey mouse exchanges in my opinion.

I would think most users agree that it's not worth risking your coins on MM exchanges. However, at this point all you have 888 on is MM exchanges. Really, in most cases if you are a miner dropping coin early or a buyer buying in early you are dealing on these MM exchanges. I know as a buyer i've dealt with this quite a bit. As a miner, I have never dealt with this. Prior to this coin I didn't mess with launch coins and I only mined what I could sell on cryptsy.

[frameLAlife]

Kind of a slow weekend since the block reward reduction. I think we really need 888 to hit one of these exchanges with more volume and coinmarketcap.com.

You can apply to add it to coinmarketcap.com but I'm not sure they will list it unless it's on an exchange with some volume.