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[iGotSpots]

I feel like most of you don't even understand what is actually happening and are just jumping on the loudest bandwagon

[1714021850]

1714021850

[1714021850]

1714021850

[envy2010]

The new client has already been released, as I understand it, with a fork coming in about 17 blocks.

[tokyoghetto]

Folks, there is no evidence that market action in AUR or a slow AUR blockchain is the result of direct ~BCX~ action. Even though ~BCX~ demands evidence from AUR devs on the authenticity and feasability of AUR airdrop plans, etc he carefully avoids providing any direct evidence himself that a) AUR is a scam or b) he has done, or is capable of, any of the things he insinuates. He brags, taunts, threatens, trolls and cajoles but he never delivers.

If you examine his track record (the LTC threat fiasco is a good example), his MO is to either move the goalpost as the time approaches for action, or just to delete his posts and sulk away to throw another tantrum another day for another reason.

https://bitcointalk.org/index.php?topic=94912.0   <- LTC debacle

I suggest that you quit giving him the attention he desperately craves and just ignore him/her.


~<^>~

If you are going to quote history, you need to include all of it. Some of us were here, you weren't. BCX saved Litecoin from the Solidcoin crew. At the time there existed a bitter rivalry between the Litecoin developer Coblee and the Solidcoin developer Coinhunter better known as Realsolid. The Solidcoin people where developing a scrypt miner which yet didn't exist for the specific purpose of killing Litecoin as Solidcoin did not use scrypt. LTC was a cpu only coin and the hash rate was very low. Just a few GPU miners could have killed it but they were also pouring it on with the cpu miners in an attempt to 51% ltc at the same time.

Coblee the creator of LTC as well the mod Saltyspitoon from this forum were well aware that the BCX attack was a trick to make the ltc miners ramp up in an effort to stop the BCX attack with his large botnet. No one responded when the call went out to add hashrate to fight the SC 51% assault but they all jumped at the chance to battle with bcx. The trick worked perfectly.

As a result the ltc hash rate increased by a factor of 20 plus buying the early ltc chain time enough for Artforz to finish the first mtrlt crude scrypt miner. With the release of the first scrypt gpu miner, ltc became secure.

There are also a couple of threads some where Coblee himself admits he knew the attack was not for real.

mind = blown.

pay attention newbies this is why you must respect your elders.

[Wipeout2097]

You noobs with your spam are 10x more detrimental to the altcoin scene than BCX ...

That's before I read above that BCX actually saved Litecoin, just by trolling!

[micryon]

That Facebook group is very interesting.. it seems that Icelanders are actually using cryptos as it was meant to be used (outside of fiat), and not as just pure investment vehicles. 

I always suspected as much given what I know about iceland.. I'm glad to see it happening.

At the same time i think it's good for us to continually expose vulnerabilities early so it can be patched/fixed quickly.  Let the attacks come, it can only make cryptos stronger in the long run... Developers in Iceland will be rallying around this and fixing it quickly... they have some smart people over there

[murkster]

Sorry im late!

Whens the IPO..!!

Hitler to the moon.....

May be an idea to not promote it in the Isracoin section.

[markm]

Blockchains are insanely expensive to secure.

Starting a new blockchain using scrypt is utterly insane, especially since DOGE came along and showed how much scrypt hashing power can be whipped up almost overnight just by a stupid meme. Had a "PWN the blockchains" meme been used instead of a stupid animal meme that would have PWNd even litecoin, so we saw that even litecoin was not secure. Maybe if litecoin and DOGE used merged mining so their hashing power could be added up instead of cancelling each other out there might be a chance for a secure scrypt chain, or maybe if the vast majority of the KnC scrypt ASICs when they come out all support just one of those two chains there might be a chance for an scrypt chain that is secure, but until then basically scrypt is an insecure algorithm, the worst choice available for any new coins.

So basically who-ever came up with Aurora was an imbecile as well as possibly being a scammer.

Scamming people into "investing" into a known-insecure blockchain is pretty much a scam, or at best criminal negligence / fiscal irresponsibility.

-MarkM-

[CoinHeavy]

MarkM -- which algorithms would you suggest for new coins? 
Where do you think GPU hashing power will resolve once scrypt ASICs have pushed them out of scrypt pools?

[Cryddit]

Let me put this gently.

If the people of Iceland want this coin to succeed, there is only one thing they need to do. 

They need to secure the damned blockchain.

That means point your computers at it and mine.

[markm]

MarkM -- which algorithms would you suggest for new coins?  
Where do you think GPU hashing power will resolve once scrypt ASICs have pushed them out of scrypt pools?

GPU is more and more stupid to use at all, as more and more consumer computers have onboard GPUs of one kind or another so the GPU realm is more and more for botnets.

Also the people easily swayed by memes are more likely to have GPU/CPU than ASIC so as long as only CPU or GPU can be used to mine a coin it will probably remain insanely vulnerable because its miners are not committed, they will fly away at the drop of a stupid meme.

So basically to make a new coin get ASICs made for a new algorithm then launch a coin to use that algorithm. AFTER the ASICs are ready to ship or preferrably have the blockchain launch the same moment that all the Walmarts and futureshops and source stores and so on open the sale of the ASIC units, so people can queue up at such stores camping out waiting for the midnight when the new ASIC will be available in the stores and the key to unlock the miner code / blockchain will be released...

Better yet just don't use blockchain, blockchains are insanely expensive to secure. Use the highest difficulty/hashrate existign coins if you must use a blockchain coin, for anything new forget blockchains trying to secure them is insanely expsensive. Clone ripple or next or whatever instead.

But mostly we just don't need new coins, we need new projects that make existing coins useful.

-MarkM-

[CoinHeavy]

Thanks for the analysis MarkM -- very interesting.

What you said makes sense, but don't you think new coins, maybe 'appcoins' instead of 'altcoins' are desireable?  By that I mean new coins that have fundamentally new code which implements various features instead of those that just forking existing code.  It will be interesting to see how ethereum tries to secure their network out of the gate.

For a lot of people I talk to about bitcoin, the distribution model puts them off because they feel late to the game and uncomfortable mining themselves.  However it plays out, I think attempting a nationwide, fair distribution of a cryptocurrency is an interesting experiment.  Unfortunately, as per this thread, block confirmations are crawling.

Do you have any special insight into exactly what is happening with the auroracoin block chain and if the problem is soluble?

Here is an overview of the current/recent blockchain status: https://aur.cryptocoins.at/explorer/chain/auroracoin

[Hazard]

MarkM -- which algorithms would you suggest for new coins?  
Where do you think GPU hashing power will resolve once scrypt ASICs have pushed them out of scrypt pools?

GPU is more and more stupid to use at all, as more and more consumer computers have onboard GPUs of one kind or another so the GPU realm is more and more for botnets.

Also the people easily swayed by memes are more likely to have GPU/CPU than ASIC so as long as only CPU or GPU can be used to mine a coin it will probably remain insanely vulnerable because its miners are not committed, they will fly away at the drop of a stupid meme.

So basically to make a new coin get ASICs made for a new algorithm then launch a coin to use that algorithm. AFTER the ASICs are ready to ship or preferrably have the blockchain launch the same moment that all the Walmarts and futureshops and source stores and so on open the sale of the ASIC units, so people can queue up at such stores camping out waiting for the midnight when the new ASIC will be available in the stores and the key to unlock the miner code / blockchain will be released...

Better yet just don't use blockchain, blockchains are insanely expensive to secure. Use the highest difficulty/hashrate existign coins if you must use a blockchain coin, for anything new forget blockchains trying to secure them is insanely expsensive. Clone ripple or next or whatever instead.

But mostly we just don't need new coins, we need new projects that make existing coins useful.

-MarkM-

Oh, come on... Most of these coins will go the way of coiledcoin, groupcoin, et al... You know that just as well as I do.

Now I'll shamelessly plug my latest article on Auroracoin . http://cryptolife.net/cheating-the-system-auroracoin-edition/

[CoinHeavy]

Block 5384 just posted, so the chain is moving -- just very slowly and erratically.
https://aur.cryptocoins.at/explorer/chain/auroracoin

[markm]

Oh, come on... Most of these coins will go the way of coiledcoin, groupcoin, et al... You know that just as well as I do.

GRouPcoin actually has quite a lot of hashing power now. CoiLedCoin doesn't because no large public merged mining pool has picked it back up yet, but that just makes it an excellent opportunity for private merged miners to accumulate a hoard before the difficulty does skyrocket. GeistGeld is also a great opportunity for private merged mining, and has such fast blocks that all the crapcoins with fast blocks but no way to actually secure their blockchain should eventually get blown away by it IF there is any truth in the notion that fast blocks are a good thing.

The big difference is the ability to actually secure the blockchain.

-MarkM-

[eightspaces]

Block 5384 just posted, so the chain is moving -- just very slowly and erratically.
https://aur.cryptocoins.at/explorer/chain/auroracoin

BCX said block 5400 in August, seems like Altcoin Hitler's calculations were pretty off

BCX, thats all u got right now? Come on, i wanna see more power

[tattooist]

It's been crawling.......I love you.

Look at the block explorer, it came to grinding slowdown starting about 5375.

It amazingly looks like a Time Warp exploit.

At this rate you might make block 5400 sometime in August ROFL.



~BCX~

^^This is what he said ^^
If you quote someone..atleast get it right

[ICee712]

]in the long term it's a good thing, if BCX is successful he can show how the algorithm is insecure and newer currencies will have to use something else
if he's unsuccessful, it will prove that the newer algorithm is secure given enough hashpower

The same way Gox failing was a good thing, since it was insecure? And how exchanges should do something else?

Yeah, the public doesn't think that way.

You are absolutely correct. All this does is force countries to do one of two things.

1. Outlaw crypto currencies, and put a ban into them from being used anywhere except underground sources.

2. Force the SEC to find a way in regulated it, thus making it a federal crime to interfere with the workings of said currency.

If they cannot find a way to regulate it, see 1. Personally, I'd rather they ban them instead of regulate. Regulations opens up the door to more corruption than we're experiencing in some cases.

Real smart people making moves here, and doing something as fucking stupid as trying to intervene with a coins workings that the person does not agree with. Good job doofus

[s1gs3gv]

Scamming people into "investing" into a known-insecure blockchain is pretty much a scam, or at best criminal negligence / fiscal irresponsibility.

Was there ever a time that the bitcoin blockchain was known-insecure ?

[s1gs3gv]

I feel like most of you don't even understand what is actually happening and are just jumping on the loudest bandwagon

Spotty, i am sure you are the only guy here who 'gets it'. You are just so obviously more experienced and superior to everyone else !

How often do you 'get it', anyway ?

~<^>~

[Starlightbreaker]

Looks like something strange is going on with Auroacoin block chain.

Starting at block 5375 it certainly appears as if something is slowing down the chain.


Any ideas?


~BCX~

The creator wasn't around when Namecoin had the block slowdown problem, so they never implemented measures to fix it. Multipools raped auroracoin when it was $90 and then left it with super high difficulty and worthless (because of creator withdrawing his coins), lol

one month to get that shit working again lol