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Author Topic: Axiocoin: Unique Miner - No ASIC/Multipool - Donating@Home - JUST LAUNCHED  (Read 16134 times)
VekTorr
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June 30, 2014, 03:55:41 AM
 #61

@VekTorr

You can calculate estimated earnings (for our donation and coin fund) based on the hashrate we display by checking multipool.us (profitability rates)
If our values are too low, we're stealing.


Yes, because we all know that the hashrate you display cannot possibly be different from the hashrate that is actually being given to your server.  All we have to do is check the code.  Oh, wait, we can't. You've pointed out one potential way that you could steal.  That way has a built-in assumption that we can't validate is actually true, nor if it actually is true does that point out that you cannot be stealing... it merely points out that this one potential fraud path wasn't being used.

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You can calculate your personal earnings from the equation we use

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(Hashrate/TotalHashrate)*(Time/TotalTime[1440 min])*(TotalMined [in 1440 minutes]) = Payout
(h/Th)*(t/Tt)*Tm = p

If the hashrate is falsified, your values will be too high/low

Yes, because we all know that the TotalHashrate (that your server acts as the only possible gatekeeper for) couldn't possibly be reporting a value other than the accurate total of the complete hashing power provided to you by the sum total of all of your obfuscated clients.  All we have to do is check the code... again, we can't be sure of that, because we can't see all of the code.  We just have to trust that the server doesn't report false values for the actual total hashing rate.  Besides, if it turns out that the totals don't seem to quite be what we would expect, we always have the option of solo mining or using a different pool provider, and knowing that fact will help keep you honest.  Oh, wait, we can't...


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We can't falsify hashrates to give ourselves money. The hashrate is pulled off of cgminer through a monitor program. You have to be mining. This program creates a text file that is exported on your comp, it cannot be edited.

All this does is point out that the end user can't falsify their own hashrate and supply a bogus value to you, thereby stealing from you.  This does nothing to show that you can't falsify actual client hash rates through your obfuscated and virtualized code (falsely reporting them artificially low to the user and keeping the incremental hashing benefit for yourself), which we could verify for ourselves if the client was truly open source, and/or falsely reporting the total aggregate hashrate for the multipool as artificially high, allowing your server to allocate a share of the rewards to dummy accounts under your own control that didn't actually do any work because they are simply virtualized entries in your server code.  The usual way a user combats potentially sketchy behavior by a pool operator is by the threat of switching to a different pool or solo mining.  Bt you've foreclosed on those potential responses, so if a user isn't feeling right about what's being reported, they have no options beyond living with it or abandoning "theoretical mining" for it entirely.
AxioDevs (OP)
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June 30, 2014, 04:27:00 AM
 #62

I'm out. See you tomorrow forum.
AxioDevs (OP)
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June 30, 2014, 01:16:38 PM
 #63

Can we donate Axiocoins straight to the charities?

Sure that's up to you. You can vote on charities too.

http://axiocoin.org/vote.html
Gingermod
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June 30, 2014, 01:33:56 PM
 #64

So how do I go about mining and receiving Axio? Maybe you could list the steps I would have to take to mine and successfully receive payment.
AxioDevs (OP)
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June 30, 2014, 01:47:46 PM
 #65

So how do I go about mining and receiving Axio? Maybe you could list the steps I would have to take to mine and successfully receive payment.

You just click the start mining button in the miner. Everything else runs in the background, you can check the stats page for net hashrate, time elapsed, your hashrate, and estimated earnings. When you're done mining (minimum of an hour) and press stop you'll be asked to request a payment (just click ok). That's pretty much it.
sntry
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June 30, 2014, 02:20:45 PM
 #66

Interesting take on charity-crypto, hopefully everything launches smoothly!
r3animation
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June 30, 2014, 02:32:12 PM
 #67

It's a good idea but I prefer Curecoin's implementation where the GPU work goes directly to the charity instead of a middleman.

I believe Curecoin goes through the Folding@home pool middleman.

Our solution is much more simple and allows us to donate towards several charities as well as putting back into the economy.

Curecoin only uses the pool to pay out while the GPU work goes to F@H directly. The backend of the pool grabs the amount of work done from Stanford's servers.

I'm not a fan of sending my hashrate to a pool where they control what they do to it. (eg. eligius when they killed a coin)
AxioDevs (OP)
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June 30, 2014, 02:42:49 PM
 #68

It's a good idea but I prefer Curecoin's implementation where the GPU work goes directly to the charity instead of a middleman.

I believe Curecoin goes through the Folding@home pool middleman.

Our solution is much more simple and allows us to donate towards several charities as well as putting back into the economy.

Curecoin only uses the pool to pay out while the GPU work goes to F@H directly. The backend of the pool grabs the amount of work done from Stanford's servers.

I'm not a fan of sending my hashrate to a pool where they control what they do to it. (eg. eligius when they killed a coin)

Yeah, if you're going for this approach there has to be some centrality. I definitely see why you're weary and I always encourage users to test the waters (thoroughly) before deciding to invest (if ever). 

As mentioned previously, any fraud by us can be detected pretty darn quickly.
AxioDevs (OP)
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June 30, 2014, 02:57:07 PM
 #69

Interesting take on charity-crypto, hopefully everything launches smoothly!

Working hard to make that a reality
VekTorr
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June 30, 2014, 03:29:56 PM
 #70

Curecoin only uses the pool to pay out while the GPU work goes to F@H directly. The backend of the pool grabs the amount of work done from Stanford's servers.

That seems like an entirely reasonable and rational way to approach things.  I'll have to give CureCoin a closer look.  Thanks for the heads-up!

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I'm not a fan of sending my hashrate to a pool where they control what they do to it. (eg. eligius when they killed a coin)

Certainly seems like the prudent approach to me, and even more so when you have no other options when dealing with the coin (i.e. no solo mining or other pools available).
VekTorr
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June 30, 2014, 03:41:00 PM
 #71

As mentioned previously, any fraud by us can be detected pretty darn quickly.

The word "any" does not mean the same thing as the word "some".  Counter-examples have already been provided showing how your declaration is not universally applicable, making "any" unjustified.

Hope this helps.  Have a nice day.
Untitled87
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June 30, 2014, 03:57:52 PM
 #72

As mentioned previously, any fraud by us can be detected pretty darn quickly.

The word "any" does not mean the same thing as the word "some".  Counter-examples have already been provided showing how your declaration is not universally applicable, making "any" unjustified.

Hope this helps.  Have a nice day.

trying 2 hard bro your only postings are in this thread

screaming at the dev isnt gonna get you a girlfriend
AxioDevs (OP)
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June 30, 2014, 04:30:07 PM
 #73

As mentioned previously, any fraud by us can be detected pretty darn quickly.

The word "any" does not mean the same thing as the word "some".  Counter-examples have already been provided showing how your declaration is not universally applicable, making "any" unjustified.

Hope this helps.  Have a nice day.

trying 2 hard bro your only postings are in this thread

screaming at the dev isnt gonna get you a girlfriend

Play nice, friend Smiley
VekTorr
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June 30, 2014, 04:36:40 PM
 #74

trying 2 hard bro your only postings are in this thread

I see you have 47 posts.  Of those, the closest to anything of substance you've posted is one pointing out that you've been part of 4chan since 2008.  Well played, bro.
Untitled87
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June 30, 2014, 04:40:15 PM
 #75

trying 2 hard bro your only postings are in this thread

I see you have 47 posts.  Of those, the closest to anything of substance you've posted is one pointing out that you've been part of 4chan since 2008.  Well played, bro.

good job reading all my posts bro
K3RR
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June 30, 2014, 04:48:06 PM
 #76

Looking good, will be watching!  Smiley
CryptoTrout
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June 30, 2014, 04:49:08 PM
 #77

There is too much greed in cryptos, I don't see room for charity.  
AxioDevs (OP)
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June 30, 2014, 05:03:32 PM
 #78

There is too much greed in cryptos, I don't see room for charity.  

If your priority is greed, read over the "Self Sustaining Growth" section. Half of the money earned goes back into pumping up the coin and bringing in new developers.
AxioDevs (OP)
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June 30, 2014, 05:13:56 PM
 #79

Looking good, will be watching!  Smiley

Awesome see you at launch Smiley
Gingermod
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June 30, 2014, 05:43:37 PM
 #80

There is too much greed in cryptos, I don't see room for charity.  

If your priority is greed, read over the "Self Sustaining Growth" section. Half of the money earned goes back into pumping up the coin and bringing in new developers.

How much BTC worth of Axiocoin do you plan on buying daily with this "self funding"?
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