counter
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June 14, 2014, 11:16:59 PM |
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Very interesting turn of events. I was just checking the Supercoins I got from there and now this... Wouldn't have expected this. It is an interesting dissucssion but for me I'd just like to know what the devs think and if I should buy some cheap coins. I don't mind either way honestly but it would be nice to see it on polo with all the other suspect coins haha, I guess I'm just not one to discriminate.
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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zmeddy
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June 14, 2014, 11:17:26 PM |
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Points that most people will agree on: - Coin code more critically reviewed by exchanges is a good thing - Poloniex / Busoni has been proven very trustworthy, for example in the case of 12.5% stolen BTC in march: https://bitcointalk.org/index.php?topic=499580- If SUPER was unrightfully not listed, it is unfortunate for them that they are among the first to have its code so scrutinously reviewed. In the last case I feel sorry mainly for the unknowing people that invested substantial amounts and panic sold. I hope that this issue will be reasonably resolved without namecalling (is never a good idea imo, even if you would have all the right to do so). It is confusing enough to follow this thread without off-topic discussions.
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e1ghtSpace
Legendary
Offline
Activity: 1526
Merit: 1001
Crypto since 2014
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June 14, 2014, 11:21:29 PM |
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Guys, if pow generates the MAX MONEY, can you still generate more money from pos? I need to know.
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Mrjitter
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June 14, 2014, 11:23:41 PM |
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CrapExchange and crapdevelopers on Poloniex....
trust is lost ... CryptoRush 2.0
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cyberhacker
Legendary
Offline
Activity: 1330
Merit: 1000
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June 14, 2014, 11:26:09 PM |
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CrapExchange and crapdevelopers on Poloniex....
trust is lost ... CryptoRush 2.0
where is busoni?
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bitrap
Member
Offline
Activity: 72
Merit: 10
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June 14, 2014, 11:26:17 PM |
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Points that most people will agree on: - Coin code more critically reviewed by exchanges is a good thing - Poloniex / Busoni has been proven very trustworthy, for example in the case of 12.5% stolen BTC in march: https://bitcointalk.org/index.php?topic=499580- If SUPER was unrightfully not listed, it is unfortunate for them that they are among the first to have its code so scrutinously reviewed. In the last case I feel sorry mainly for the unknowing people that invested substantial amounts and panic sold. I hope that this issue will be reasonably resolved without namecalling (is never a good idea imo, even if you would have all the right to do so). It is confusing enough to follow this thread without off-topic discussions. Can it also be agreed that Busoni may have very well jumped the gun on declaring SuperCoin to be as suspect as implied? If so, I think we're due an apology or at least an admittance of this episode of incompetence.
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L3pje
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June 14, 2014, 11:26:49 PM |
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2 BTC down the drain, thanks Busoni. Please next time don't just post that fast. When dev changes it, will it be added on polo?
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maryvale
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June 14, 2014, 11:28:54 PM |
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OK, let me tell (or teach, for some) you how the total coin is calculated: 1st, look at this function int64_t GetProofOfWorkReward(int nHeight, int64_t nFees, const CBlockIndex* pindex) and this int64_t GetProofOfWorkBonusRewardFactor(CBlockIndex* pindex) 1st function calculates the regular pow payout, and the 2nd calculates the superblocks. Now, block 1 = 2.5 mil coins (was a mini IPO I think) block 2 - block 19200: 512 coins/block next 9600 (10 days) blocks: 256 coins/block next 9600 (10 days) blocks: 128 coins/block next 9600 (10 days) blocks: 64 coins/block next 9600 (10 days) blocks: 32 coins/block next 9600 (10 days) blocks: 16 coins/block next 9600 (10 days) blocks: 8 coins/block next 9600 (10 days) blocks: 4 coins/block next 9600 (10 days) blocks: 2 coins/block afterwards: 1 coins/block now the pow will be cut off at 1-2 coins/block. Next, look at the superblocks: superblock - Every 3 hours there will be a block with 4X normal payment (initial 2048 coins) - Every day there will be a block with 16X normal payment (initial 8192 coins) - Every 5 days there will be a block with 128X normal payment (initial 65536 coins) So at initial phase, the 1 block day average coin is: 1 day = 960 * 512 + 8 * (2,048 - 512) + (8,192 - 512) + 1/5 * (65,536 - 512) = 491,520 + 12,288 + 7,680 + 13,004.8 = 524,492.8 coins Total = 524,492.8 * (20 + 10 * 0.5 * ( 1 + 1/2 + 1/4 + 1/8 + ... )) = 524,492.8 * 10 * (2 + 1) = 15,734,784 coins This adds 2.5 mil mini IPO, total PoW = 18.2 millions. On top of this, you can calculate the PoS, PoS is difficult to calculate precisely, but you can estimate max possible value. My estimate is that it is under 50 millions as devs of Supercoin said. Simple math, isn't it?
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provenceday
Legendary
Offline
Activity: 1148
Merit: 1000
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June 14, 2014, 11:31:49 PM |
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OK, let me tell (or teach, for some) you how the total coin is calculated: 1st, look at this function int64_t GetProofOfWorkReward(int nHeight, int64_t nFees, const CBlockIndex* pindex) and this int64_t GetProofOfWorkBonusRewardFactor(CBlockIndex* pindex) 1st function calculates the regular pow payout, and the 2nd calculates the superblocks. Now, block 1 = 2.5 mil coins (was a mini IPO I think) block 2 - block 19200: 512 coins/block next 9600 (10 days) blocks: 256 coins/block next 9600 (10 days) blocks: 128 coins/block next 9600 (10 days) blocks: 64 coins/block next 9600 (10 days) blocks: 32 coins/block next 9600 (10 days) blocks: 16 coins/block next 9600 (10 days) blocks: 8 coins/block next 9600 (10 days) blocks: 4 coins/block next 9600 (10 days) blocks: 2 coins/block afterwards: 1 coins/block now the pow will be cut off at 1-2 coins/block. Next, look at the superblocks: superblock - Every 3 hours there will be a block with 4X normal payment (initial 2048 coins) - Every day there will be a block with 16X normal payment (initial 8192 coins) - Every 5 days there will be a block with 128X normal payment (initial 65536 coins) So at initial phase, the 1 block day average coin is: 1 day = 960 * 512 + 8 * (2,048 - 512) + (8,192 - 512) + 1/5 * (65,536 - 512) = 491,520 + 12,288 + 7,680 + 13,004.8 = 524,492.8 coins Total = 524,492.8 * (20 + 10 * 0.5 * ( 1 + 1/2 + 1/4 + 1/8 + ... )) = 524,492.8 * 10 * (2 + 1) = 15,734,784 coins This adds 2.5 mil mini IPO, total PoW = 18.2 millions. On top of this, you can calculate the PoS, PoS is difficult to calculate precisely, but you can estimate max possible value. My estimate is that it is under 50 millions as devs of Supercoin said. Simple math, isn't it? +1
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badchild
Member
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Activity: 113
Merit: 10
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June 14, 2014, 11:31:59 PM |
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I wonder if Polo will give refunds to all the people that panic sold based on their faulty FUD.
where is busoni?
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provenceday
Legendary
Offline
Activity: 1148
Merit: 1000
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June 14, 2014, 11:35:38 PM |
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busoni must stand out to apologize to those ppl lost bunch of money and SUPER dev.
it's true.
they make some mistake, hope busoni can handle this thing correctly, he is a honest guy, i also donate him 0.7 BTC on the Poloniex Hacker event.
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bitcoinwonders010
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June 14, 2014, 11:37:07 PM |
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bittrex official statement will get things on track plus busoni needs to apologize
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counter
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June 14, 2014, 11:38:04 PM |
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Generally speacking it seems pretty straight forward but when you throw the code text in the mix along with some other variables it tends to be rather intimidating shall I say. Interesting how two different views of the "Max Coins" are so far apart and I'm anxious to get a final say on the total at this point. Thanks for the breakdown of your calculation.
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doch
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June 14, 2014, 11:39:40 PM |
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bittrex official statement will get things on track plus busoni needs to apologize
Well, hopefully Polo can learn from this at least. I'm all for exchanges vetting the code on coins they add, but if you're going to do it, please have someone who knows what they're looking at do it.
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maryvale
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June 14, 2014, 11:40:42 PM |
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OK, let me tell (or teach, for some) you how the total coin is calculated: 1st, look at this function int64_t GetProofOfWorkReward(int nHeight, int64_t nFees, const CBlockIndex* pindex) and this int64_t GetProofOfWorkBonusRewardFactor(CBlockIndex* pindex) 1st function calculates the regular pow payout, and the 2nd calculates the superblocks. Now, block 1 = 2.5 mil coins (was a mini IPO I think) block 2 - block 19200: 512 coins/block next 9600 (10 days) blocks: 256 coins/block next 9600 (10 days) blocks: 128 coins/block next 9600 (10 days) blocks: 64 coins/block next 9600 (10 days) blocks: 32 coins/block next 9600 (10 days) blocks: 16 coins/block next 9600 (10 days) blocks: 8 coins/block next 9600 (10 days) blocks: 4 coins/block next 9600 (10 days) blocks: 2 coins/block afterwards: 1 coins/block now the pow will be cut off at 1-2 coins/block. Next, look at the superblocks: superblock - Every 3 hours there will be a block with 4X normal payment (initial 2048 coins) - Every day there will be a block with 16X normal payment (initial 8192 coins) - Every 5 days there will be a block with 128X normal payment (initial 65536 coins) So at initial phase, the 1 block day average coin is: 1 day = 960 * 512 + 8 * (2,048 - 512) + (8,192 - 512) + 1/5 * (65,536 - 512) = 491,520 + 12,288 + 7,680 + 13,004.8 = 524,492.8 coins Total = 524,492.8 * (20 + 10 * 0.5 * ( 1 + 1/2 + 1/4 + 1/8 + ... )) = 524,492.8 * 10 * (2 + 1) = 15,734,784 coins This adds 2.5 mil mini IPO, total PoW = 18.2 millions. On top of this, you can calculate the PoS, PoS is difficult to calculate precisely, but you can estimate max possible value. My estimate is that it is under 50 millions as devs of Supercoin said. Simple math, isn't it? Questions? I can explain each and every number if needed
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daywalkerneo
Full Member
Offline
Activity: 224
Merit: 100
http://qoinpro.com/cc9596f66d20add189728cb834d59b8
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June 14, 2014, 11:41:21 PM |
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Let's take a look at some other popular coins on Poloniex: SilkcoinMaximum POW supply: ~45 million Great, let's check the code: static const int64_t MAX_MONEY = 2000000000 * COIN; Uh oh, 2 billion is a lot more than 45 million! Better de-list SC right away! CinniTotal Coins: 15,000,000 Hmm... static const int64 MAX_MONEY = 100000000 * COIN; I'm not very good at math but I think 100 million may be slightly more than 15 million. Strange that you never gave a shit about things like this before? We have recently raised our reviewing standards to look for more than just trojans and security exploits. SC and CINNI were not subjected to that kind of scrutiny. We will investigate them, though. And if it turns out that they are like SuperCoin and deliberately inserted those values, then we might have a problem. I cannot comment on them at this point, since we have not looked over the code yet for things like this. We are attempting to raise the bar on the quality of the coins we list. We are well aware that this stance will be met with some opposition, particularly when a popular coin is rejected, but we are willing to take the heat for that. The idle pursuit of volume was never the intention behind Poloniex. good call cinni and sc are trash coins for sure along with most of these copy paste coins with no value
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provenceday
Legendary
Offline
Activity: 1148
Merit: 1000
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June 14, 2014, 11:41:32 PM |
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OK, let me tell (or teach, for some) you how the total coin is calculated: 1st, look at this function int64_t GetProofOfWorkReward(int nHeight, int64_t nFees, const CBlockIndex* pindex) and this int64_t GetProofOfWorkBonusRewardFactor(CBlockIndex* pindex) 1st function calculates the regular pow payout, and the 2nd calculates the superblocks. Now, block 1 = 2.5 mil coins (was a mini IPO I think) block 2 - block 19200: 512 coins/block next 9600 (10 days) blocks: 256 coins/block next 9600 (10 days) blocks: 128 coins/block next 9600 (10 days) blocks: 64 coins/block next 9600 (10 days) blocks: 32 coins/block next 9600 (10 days) blocks: 16 coins/block next 9600 (10 days) blocks: 8 coins/block next 9600 (10 days) blocks: 4 coins/block next 9600 (10 days) blocks: 2 coins/block afterwards: 1 coins/block now the pow will be cut off at 1-2 coins/block. Next, look at the superblocks: superblock - Every 3 hours there will be a block with 4X normal payment (initial 2048 coins) - Every day there will be a block with 16X normal payment (initial 8192 coins) - Every 5 days there will be a block with 128X normal payment (initial 65536 coins) So at initial phase, the 1 block day average coin is: 1 day = 960 * 512 + 8 * (2,048 - 512) + (8,192 - 512) + 1/5 * (65,536 - 512) = 491,520 + 12,288 + 7,680 + 13,004.8 = 524,492.8 coins Total = 524,492.8 * (20 + 10 * 0.5 * ( 1 + 1/2 + 1/4 + 1/8 + ... )) = 524,492.8 * 10 * (2 + 1) = 15,734,784 coins This adds 2.5 mil mini IPO, total PoW = 18.2 millions. On top of this, you can calculate the PoS, PoS is difficult to calculate precisely, but you can estimate max possible value. My estimate is that it is under 50 millions as devs of Supercoin said. Simple math, isn't it? Questions? I can explain each and every number if needed no question. it's the truth.
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iGotSpots
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Activity: 2548
Merit: 1054
CPU Web Mining 🕸️ on webmining.io
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June 14, 2014, 11:41:44 PM |
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Max money isn't really what you are saying it is but its good to not list it due to lies
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maryvale
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June 14, 2014, 11:45:07 PM |
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Max money isn't really what you are saying it is but its good to not list it due to lies
I think it was left over from previous version, since it does not do anything (just transactions), I guess dev does not bother to change it. Nothing is wrong there, you set a limit does not mean you need to reach it.
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maryvale
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June 14, 2014, 11:46:14 PM |
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If the amount of coins to be mined could be adjusted with a simple code update, why would any coin be considered secure?
The key here is majority of the network (51%) needs to agree and adopt the changes. P2p coin follows simple majority rules.
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