[ANN] SMAC - Accounts have been suspended project closed

[boxxa]

A single PoS block minting 365 coins is rare with our small supply but obviously we will implement the fix. Changes like this submitted with a fix are rewarded from the buy back fund as outlined in the ANN for contributions which is why the code fix is being paid from my input. Not sure what the SMAC team think and can do as they wish.

[wurstgelee]

Thank you for the contribution to this. I don't think we have seen a wallet this bug but will submit the change to our repo and have the wallet updates for this.

This is the great community effort to submit a fix to a seen problem in open source code.

DM me your wallet address for some SMAC.

I appreciate the generous offer but I agree with Soul_eater_123 here: At least 50% should go to Julian for spotting the issue - the fix itself is rather simple.

I will DM my address.

Thanks!


Edit:

A single PoS block minting 365 coins is rare with our small supply but obviously we will implement the fix. Changes like this submitted with a fix are rewarded from the buy back fund as outlined in the ANN for contributions which is why the code fix is being paid from my input. Not sure what the SMAC team think and can do as they wish.

Well...no. As soon as you send one transaction with 300 SMAC to your wallet you will create a 300 SMAC stake once these coins mature.

[Soul_eater_123]

A single PoS block minting 365 coins is rare with our small supply but obviously we will implement the fix. Changes like this submitted with a fix are rewarded from the buy back fund as outlined in the ANN for contributions which is why the code fix is being paid.

Well if that's the policy fair enough.  Might be a good idea to allow additional donations to the fund to ensure there is always enough to pay out. 

I also think it might be useful to reward people separately for pointing out errors and providing fixes. 

This would encourage full transparency as some errors may take time to be fixed but that should not act as a barrier to them being sought out and reported.

[wurstgelee]

A single PoS block minting 365 coins is rare with our small supply but obviously we will implement the fix. Changes like this submitted with a fix are rewarded from the buy back fund as outlined in the ANN for contributions which is why the code fix is being paid.

Well if that's the policy fair enough.  Might be a good idea to allow additional donations to the fund to ensure there is always enough to pay out. 

I also think it might be useful to reward people separately for pointing out errors and providing fixes. 

This would encourage full transparency as some errors may take time to be fixed but that should not act as a barrier to them being sought out and reported.

+1

Otherwise people might refrain from reporting bugs until they have fixed it on their own - which might take longer than it would take if they reported it at once.

[Soul_eater_123]

A single PoS block minting 365 coins is rare with our small supply but obviously we will implement the fix. Changes like this submitted with a fix are rewarded from the buy back fund as outlined in the ANN for contributions which is why the code fix is being paid.

Well if that's the policy fair enough.  Might be a good idea to allow additional donations to the fund to ensure there is always enough to pay out. 

I also think it might be useful to reward people separately for pointing out errors and providing fixes. 

This would encourage full transparency as some errors may take time to be fixed but that should not act as a barrier to them being sought out and reported.

+1

Otherwise people might refrain from reporting bugs until they have fixed it on their own - which might take longer than it would take if they reported it at once.

Exactly:)

[wurstgelee]

So anyway, there's a buffer overflow in the Proof of Stake implementation which I've mentioned before but I guess I'm getting ignored. This basically means if you are staking a block of 253 or more coins, you won't receive a full Proof of Stake payout based on 365% interest.

Here's some simulation code based on staking 300 coins.

Code:

#include <stdio.h>
#include <sys/types.h>

int main(void) {
    // SMAC
    int64_t nDays = 1;
    int64_t nCoins = 300;

    int64_t CENT = 1000000;
    int64_t COIN = 100000000;
    int64_t MAX_MINT_PROOF_OF_STAKE = 1 * CENT;
    int64_t nRewardCoinYear = 365 * MAX_MINT_PROOF_OF_STAKE; // Month 1 - 365% interest
    int64_t nCoinAge = nDays * nCoins * COIN;

    int64_t nSubsidy = nCoinAge * nRewardCoinYear / 365 / COIN; // SMAC code

    printf("nSubsidy= %lld\n", nSubsidy);
}

So that is a buffer overflow.

Result is:
nSubsidy = -205390248

Actual result should be:
nSubsidy = 300000000

Or 3 SMAC.

So if you can find a block which has paid out more than 3 SMAC in Proof of Stake interest during the 365% interest period, you can prove me wrong.  Well to be exact, if you can find a PoS payment of more than 2.53 SMAC during the 365% interest period, you can prove me wrong.

The worst case scenario is for people staking more. I feel bad for those people as their investment isn't fully paying out.  For example with 3000 SMAC, staking for 1 day you should receive 30 SMAC.  For 30000 SMAC, staking for 1 day you should receive 300 SMAC.... So yes, 1% per day since minimum stake age is 1 day.

Even simpler, only change one line of code:

Instead of

Code:

int64_t nSubsidy = nCoinAge * nRewardCoinYear / 365 / COIN; // SMAC code

do

Code:

int64_t nSubsidy = (nCoinAge/COIN) * (RewardCoinYear / 365); // SMAC code

C++ isn't exactly my area of expertise so if someone with that expertise is reading this: Please verify!

(I can't imagine why those brackets wouldn't be calculated first though)

[SMAC-Media]

update: weekly newsletter, https://mega.co.nz/#!gQ4kVAiA!BoU-FUZ80gtNq0NJKBhGkz10vZ6gRE_28HdI9BJ8Hyw

[Stenull]

How can there be a buffer overflow? 64 bit integer max val is 9223372036854775807.
Or is there any other function overflowing this stack position? i must writing on the most significant bit hens the negative number.

The result of nCoinAge * nRewardCoinYear for 300 coins is 10950000000000000000 (or higher depending on coinage). Buffer overflow.

[/quote]

Ah, i never did the math sorry

[Penn.3D]

Newsletter looks great! Thanks for the updates!!

Edit to add:

In case some of you don't "get it" as far as why many of us are excited about this coin, let me summarize in as few words as possible (and please someone jump in if I am getting anything wrong here....)

If the social media accounts start bringing in money (which presumably they will since these guys seem to know what they are doing), some of that money will go towards buying coins off the market which will raise the value of the remaining coins, and some of that money will go towards buying more social media accounts which will bring in more money, which will be used to buy coins off the market as well as more social media accounts which will bring in more money, and so on.

That's not to mention the exciting possibility that SMAC will be used as one of if not THE currency for the social media advertising industry, which of course the dev team is trying to make happen.

GET IT!!??

translation....HOLD YOUR DAMN COINS PEOPLE UNLESS YOU HATE MONEY!!

[placebo]

I'm wondering if there will be somekind of buyback program? If the coin is getting cheaper and cheaper then it make sense for DEV to use some money. Maybe launch some great news and it jump to the moon. Look at GSM, jump by 800%.

Everything is in the hands of DEV. What will he do with all those BTCs, how long will he allow his coin to drop. Will he not start buying?

[wurstgelee]

I'm wondering if there will be somekind of buyback program? If the coin is getting cheaper and cheaper then it make sense for DEV to use some money. Maybe launch some great news and it jump to the moon. Look at GSM, jump by 800%.

Everything is in the hands of DEV. What will he do with all those BTCs, how long will he allow his coin to drop. Will he not start buying?

First buyback is scheduled for April 27th according to twitter:

https://twitter.com/SMACteam/status/575793388127019008?lang=en-gb

[placebo]

I hope SMAC will do a GSM

[inspirone1]

Any updates on expected fix? I have been staking coins for 10 days and haven't received shit for staking 26K coins. (received 200 coins in 10 days) Could of and should of have dumped and re-bought for well over the 200 coins I made staking.

[wurstgelee]

I wrote some lines with boxxa earlier.

The fix is being worked on, expect news soon.

[odyjm]

I don't understand the supposed bug enough to know if it harm me or not.

All can I say is since March 10th I receive about a number really close to 1% of interest per day for staking.

The wallet connects sync fast and run it since 11 days with no problem.

So where's the bug?

[wurstgelee]

I don't understand the supposed bug enough to know if it harm me or not.

All can I say is since March 10th I receive about a number really close to 1% of interest per day for staking.

The wallet connects sync fast and run it since 11 days with no problem.

So where's the bug?

Short version:

If you have more than 253 SMAC in one stake (also happens with less SMAC if the coinage is > min coinage required for staking) you hit a buffer overflow in PoS reward calculation which results in a way too low reward. Since nStakeCombineThreshold is set to 1000, splitting coins into smaller transactions when sending them to your wallet doesn't help - those transactions would be added up when creating stakes due to that threshold.

[placebo]

I'm wondering if there will be somekind of buyback program? If the coin is getting cheaper and cheaper then it make sense for DEV to use some money. Maybe launch some great news and it jump to the moon. Look at GSM, jump by 800%.

Everything is in the hands of DEV. What will he do with all those BTCs, how long will he allow his coin to drop. Will he not start buying?

First buyback is scheduled for April 27th according to twitter:

https://twitter.com/SMACteam/status/575793388127019008?lang=en-gb

I like the buyback program, but in altcoin world 27th of April is a long time. On twitter they are talking about accounts that 500k followers etc, but i don't see any prove. It would be nice that they can post some prove of it. Everybody can say, now we bought account worth of .... but where are the proves? If they post proves then i'm pretty sure that this coin will not trade at 8k sats but at 800k sats. Now it is just wording, a screenshot doesn't take too much, no?

[UNO_owner]

I'm wondering if there will be somekind of buyback program? If the coin is getting cheaper and cheaper then it make sense for DEV to use some money. Maybe launch some great news and it jump to the moon. Look at GSM, jump by 800%.

Everything is in the hands of DEV. What will he do with all those BTCs, how long will he allow his coin to drop. Will he not start buying?

First buyback is scheduled for April 27th according to twitter:

https://twitter.com/SMACteam/status/575793388127019008?lang=en-gb

I like the buyback program, but in altcoin world 27th of April is a long time. On twitter they are talking about accounts that 500k followers etc, but i don't see any prove. It would be nice that they can post some prove of it. Everybody can say, now we bought account worth of .... but where are the proves? If they post proves then i'm pretty sure that this coin will not trade at 8k sats but at 800k sats. Now it is just wording, a screenshot doesn't take too much, no?

As they said in the newsletter, proof will result in trolls getting the accounts banned on twitter. 

[Soul_eater_123]

I don't understand the supposed bug enough to know if it harm me or not.

All can I say is since March 10th I receive about a number really close to 1% of interest per day for staking.

The wallet connects sync fast and run it since 11 days with no problem.

So where's the bug?

Over the last couple of days I've only received about 40% of what I should get.  So it is definitely there.

[popcorn75]

i am not able to download the windows walllet from the website.. help please