[ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield

[jjj0923]

I hope you all can tune in - I will be talking digital currencies on CNBC today at 2:40 pm

-BK

bummer won't be able to - tell Cramer I said hello - we went to H.S together....

[PilotofBTC]

Sold for good profit

Should have held.

[jjj0923]

Sold for good profit

Should have held.

yes - +10,000 in sight - all it takes is seller with gonads...

[PilotofBTC]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case 

I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

[FlyingMongoose]

I hope you all can tune in - I will be talking digital currencies on CNBC today at 2:40 pm

-BK

Tuned in and waiting. You've got a solid set up here in Nautiluscoin and I see a great future in it :-) I'm hoping your analysis will show more of the benefits to the crypt-currency world. Also don't forget, there is legislature attempting to be passed so that virtual currency can be classified as FOREIGN CURRENCY instead of PROPERTY in the United States.
Ref: https://www.govtrack.us/congress/bills/113/hr4602
I'd like to see it pass but unlikely.

Reggie stole the show, but I believe the analysis by both of you was spot on.

[ltcjunky43]

Great segment on CNBC BK!

Spread the word! You should also do a segment on how to get people involved, if that can be fit into the program somehow (like a tour of the website and wallet)

[whatdidshedo]

I know several here have experience with BetaRigs... it is ok to make a payment right from an exchange? Or is it not advised?

i do it from mintpal, no issues and even if you sent from an exchange and it takes over 30 minutes and you don't receive work you just file a ticket with betarigs with tx id address and rigs you paid for and they send your btc back, happened to me once sending from polo cause the withdrawal was not processed on time, but mintpal always works well so far.

[ltcjunky43]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case  

I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

I think we just need to start moving our hashrate elsewere. It's hard to think about, since nobody is finding blocks, but if we all spread out instead of saying we will, we could balance the network

[FlyingMongoose]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case  

I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

I think we just need to start moving our hashrate elsewere. It's hard to think about, since nobody is finding blocks, but if we all spread out instead of saying we will, we could balance the network

The 0 fee thing isn't quite true, you still have a .1 withdrawal fee (auto or manual). It's the mining transactions that are free.

I'm primarily on that pool for two reasons: 1 It was the first pool for NAUT, and 2, it is finding blocks (like above stated), however, If enough were to move to other pools and spread the hash (for the security and benefit of the coin), I would have no problem following suit.

[Andremoliv]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case  

I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

I think we just need to start moving our hashrate elsewere. It's hard to think about, since nobody is finding blocks, but if we all spread out instead of saying we will, we could balance the network

I already try 3 times to nau.coinsinfo.net today but i can't move to another pool alone because i can't get any block..

Now i put 20mH again, let's see if anybody join.

[ltcjunky43]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

[Andremoliv]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case  

I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

I think we just need to start moving our hashrate elsewere. It's hard to think about, since nobody is finding blocks, but if we all spread out instead of saying we will, we could balance the network

I already try 3 times to nau.coinsinfo.net today but i can't move to another pool alone because i can't get any block..

Now i put 20mH again, let's see if anybody join.

Moving 100MH

[PilotofBTC]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

I would set up a pool if I knew how. If there existing software on github somewhere?

[Andremoliv]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case  

I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

I think we just need to start moving our hashrate elsewere. It's hard to think about, since nobody is finding blocks, but if we all spread out instead of saying we will, we could balance the network

I already try 3 times to nau.coinsinfo.net today but i can't move to another pool alone because i can't get any block..

Now i put 20mH again, let's see if anybody join.

Moving 100MH

I'm sorry this pool don't suport all this hash.. :-S I will try the Bitember...

[jjj0923]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

I would set up a pool if I knew how. If there existing software on github somewhere?

yes it's called MPOS - lamp package

[PilotofBTC]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

I would set up a pool if I knew how. If there existing software on github somewhere?

yes it's called MPOS - lamp package

Cool, any idea what kind of bandwidth it uses? I'll look and see if I can get one setup this weekend.

[jjj0923]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

I would set up a pool if I knew how. If there existing software on github somewhere?

yes it's called MPOS - lamp package

Cool, any idea what kind of bandwidth it uses? I'll look and see if I can get one setup this weekend.

no but you need to purchase an ssl cert though to protect miners....

I'd do it because I have servers and bandwidth available in the racks where we host our servers but no time to do the work.

MPOS its what 99% of the pools use.

https://github.com/MPOS/php-mpos/wiki/Quick-Start-Guide


I set one up in my office about a month ago to test my own little private pool - it's a little tricky but not rocket science.

[FlyingMongoose]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

I would set up a pool if I knew how. If there existing software on github somewhere?

yes it's called MPOS - lamp package

Cool, any idea what kind of bandwidth it uses? I'll look and see if I can get one setup this weekend.

no but you need to purchase an ssl cert though to protect miners....

I'd do it because I have servers and bandwidth available in the racks where we host our servers but no time to do the work.

MPOS its what 99% of the pools use.

I'd do the set up for you if I had the time and you were comfortable with having a third party do it :-/ and MPOS will use as much bandwidth as any other web site, it's the traffic of the mining that you really have to worry about. Ultimately the more miners the more bandwidth.

[PilotofBTC]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

I would set up a pool if I knew how. If there existing software on github somewhere?

yes it's called MPOS - lamp package

Cool, any idea what kind of bandwidth it uses? I'll look and see if I can get one setup this weekend.

no but you need to purchase an ssl cert though to protect miners....

I'd do it because I have servers and bandwidth available in the racks where we host our servers but no time to do the work.

MPOS its what 99% of the pools use.

I'd do the set up for you if I had the time and you were comfortable with having a third party do it :-/ and MPOS will use as much bandwidth as any other web site, it's the traffic of the mining that you really have to worry about. Ultimately the more miners the more bandwidth.

If I can't get one going, I'll take you up on that. What size VM would you suggest Disk/RAM/CPU? My bro runs a hosting and data center company so I can get one set up pretty quickly.

[FlyingMongoose]

+1 we need to jump about half the hash over to that pool. We need more pools to be created as well, which will help out a lot

I would set up a pool if I knew how. If there existing software on github somewhere?

yes it's called MPOS - lamp package

Cool, any idea what kind of bandwidth it uses? I'll look and see if I can get one setup this weekend.

no but you need to purchase an ssl cert though to protect miners....

I'd do it because I have servers and bandwidth available in the racks where we host our servers but no time to do the work.

MPOS its what 99% of the pools use.

I'd do the set up for you if I had the time and you were comfortable with having a third party do it :-/ and MPOS will use as much bandwidth as any other web site, it's the traffic of the mining that you really have to worry about. Ultimately the more miners the more bandwidth.

If I can't get one going, I'll take you up on that. What size VM would you suggest Disk/RAM/CPU? My bro runs a hosting and data center company so I can get one set up pretty quickly.

If I had the time is an operative term here (I usually have very little time on my hands).

Ultimately I'm not certain. For the safety and integrity of the data a mirrored array of drives would be best. CPU and RAM would need to be able to handle large impact PHP, and MYSQL driven web site(s). And of course the wallet(s) for payout.

On another note, where are people pointing their miners at right now? (Instead of 0feepool). I'm not seeing much upped hashes at any of the other pools. I am trying to point a friend who's been mining longer than me at this coin though.