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Can we talk about GAW?

After the GOX disaster took so many people by surprise, I feel that it’s worth bringing forward the madness that’s happening over at GAW for those that may be considering throwing some money their way. This especially with the launch of their “hash coin” later today.
First off, I’m not some whistle blower or insider with secret information, just an enthusiast who cannot believe the amount of money people appear to be giving them despite red flags from here to forever. I know this post likely won’t do anything, but given the number of people casually trying to get into cryptocurrencies and seeing GAW as a good/accessible option it’s worth trying to bring up the discussion.
You should always be aware of anyone promising anything too good to be true. Here we have a company that has promised guaranteed returns and "profitability" more times than I can count. There is no such thing as a sure thing, especially in markets as unpredictable as crypto, and especially on the scale they talk about. Also those returns have yet to materialize for anyone but the very first buyers (interesting...).
They’ve created their own forum and aggressively policed any thread they have access to across the web to stamp out negative feedback. Their customer service by all accounts is a disaster and the only way to get a timely response is to post publically. There are many accounts that they ended up sending out whatever hardware they had lying around to people trying to buy their custom machines (war machines, etc) and then denying it.
On their forum you get money for upvotes, lose money from your account for downvotes, get bonus money from the CEO if he likes your post, and with enough downvotes you get autobanned. You can imagine what kind of a community this creates. Negative posts of any kind get you banned and the threads removed by admins immediately.
Next we have their pool system. They have their own pool (Zenpool) that always seemed to have the best payout, yet no explanation of how it is remotely possible. It doesn’t take a think tank to imagine how easy it would be to sell your propriety mining pool as a higher buy in, subsidize the difference in rates out of pocket to secure purchases and then do whatever you want with the money.
Zenpool and cloud hashing contracts are the most incredibly perfect setup for a Ponzi scheme you could ever create, and people continue to buy despite the utter lack of transparency, explanation, or established reputation that would make this seem credible. Imagine this, give me 20 dollars today and I’ll give you 1.2 cents a day (minus maintenance) instead of the 1.1 cent you would get elsewhere. Sure sounds like a cost effective way to raise a bunch of money fast.
If GAW disappeared tomorrow with everyone’s money it would in hindsight seem like the most obvious thing in the world. I am not saying that it is a Ponzi scheme, just that JESUS CHRIST does it look like one with no effort to prove itself otherwise. Even if it’s not a Ponzi scheme this sure does seem like it could be one of those Butterfly labs situations where a lot of personal stuff (e.g. private jets) gets charged to company cards until they go bankrupt.
Finally we have “Hash Coin” – there are so many things wrong with this it’s hard to summarize. You can read their QA here. But in short they’re launching an ICO that, in their words: “will go “public” for just over $20 a coin.” According to “analysts and banks”. And that “there will be a “bank” that will manage, to some degree, the valuation of Hashcoin” However of course you cannot know who these bankers or analysts are as: “The identities of both the analysts and banks will be released once the ICO has completed and the merchant marketplace established in the near future.”
And this magic coin will have a market cap of 5Billion (!!). For quick reference Bitcoin sits at roughly 4.4.
I am sure there is a debate all on its own for the ICO, but it betrays such a huge misunderstanding of some of the fundamentals of this space all it does is create more red flags for me.
Somewhere there is a whitepaper that is “done” but instead of releasing it for community review and feedback they’ve plowed ahead with some crazy bankeanalyst backed offering in which everyone – especially you – can make boatloads of money. This ICO deserves a post on it’s own, but given that it’s launching tonight there should be plenty on entertainment there for later. Again, their quote "A white paper will not answer ICO questions. That is what is more important."
In short: They’re running a system with constantly promised returns that has done anything but that. They’re running what could easily be a textbook Ponzi scheme on a huge scale with zero transparency. They’re issuing their own currency that “analysts” and “banks” have assured them will be worth giant multiples of what you will be able to buy it for, and have a market cap of 5,000,000,000 USD.
I'm all for people trying wild and crazy (and big) ideas in the space, but another GOX (Butterfly Labs, etc.) is not what we need. If GAW is a legitimate well run organization then the community should ask for more transparency and information before giving them any more money.
And finally, there’s this post. (*update, they took down the image but someone sent me a screenshot they took.)
They literally have post praising themselves for taking money from a man who has a sick family and mounting medical bills for a product that will likely never (ever) return to him what he paid for it. And the image they have chosen for this post - well, it's of the CEO and community manager in a private jet. (** update 2, I was contacted by someone who claims to own the site and says it's not affiliated with GAW. So, fair enough for a disclaimer. They are however still doing these things even if it's a repost of theirs, so point still stands.)
TL;DR Everyone gives GAW money despite the fact that they are too busy flying on private jets to answer your support emails or explain how their definitely-not-a-ponzi-scheme operation works exactly. But hey, let's all go buy some Hash Coin* which is totally better than Bitcoin! (*whitepaper pending)
(edit: formatting)
Update: "Whitepaper" draft is out for hashcoin, and it's hilarious. We're 20 days out from their ICO and they haven't released anything for the community to review or comment on, and if this is the direction they're going it's going to be quite the ride.
Update 2: It's been mentioned a number of times here, but worth noting for anyone even remotely looking at the hashlets and their "guaranteed profitability" that maintenance fees are 80% of earnings at this point. The break even point for all products is never given any kind of difficulty increase and multiple years assuming none. I cannot say I understand how GAW calculates profitability, but doesn't seem to be the way I do.
Update 3: And a couple more to underscore the point. From their own terms of service: "Hashlets are virtual service units related to mining services, but are not mining hardware." Hashlets are not real, might not have anything to do with hardware! "11. Termination and Modifications. a. Services may be terminated by us, without cause, at any time." And, GAW can simply cancel the service at any time and keep your money!
Update 4: Link to the SEC site to report suspicious activity: https://denebleo.sec.gov/TCRExternal/questionaire.xhtml
Update 5: CoinFire publishes story on possible dishonesty on the part of GAW with regards to partners, gets hacked. Thread with more information here: http://www.reddit.com/Bitcoin/comments/2n7c9coinfire_publishes_article_with_details_about_gaw/
submitted by redflagsforever to Bitcoin [link] [comments]

The Strange Birth & History of Monero, Part IV: Monero "as it is now"

You can read here part III.
You can read this whole story translated into Spanish here
This is part IV, the last but not least.
Monero - A secure, private, untreceable cryptocurrency
https://bitcointalk.org/index.php?topic=583449.0
Notable comments in this thread:
-201: “I would like to offer 1000 MRO to the first person who creates a pool”
(https://bitcointalk.org/index.php?topic=583449.msg6422665#msg6422665)
[tacotime offers bounty to potential pool developer. Bytecoin devs haven’t released any code for pools, and the only existent pool, minergate (in the future related to BCN interests) was closed source]
-256: “Adam back seems to like CryptoNote the better than Zerocash https://twitter.com/adam3us/status/453493394472697856”
(https://bitcointalk.org/index.php?topic=583449.msg6440769#msg6440769)
-264: “update on pools: The NOMP guy (zone117x) is looking to fork his open source software and get a pool going, so one should hopefully be up soon.”
(https://bitcointalk.org/index.php?topic=583449.msg6441302#msg6441302)
-273: “Update on GUI: othe from VertCoin has notified me that he is working on it.”
(https://bitcointalk.org/index.php?topic=583449.msg6442606#msg6442606)
-356: “Everyone wanting a pool, please help raise a bounty with me here:
https://bitcointalk.org/index.php?topic=589533.0
And for the GUI:
https://bitcointalk.org/index.php?topic=589561.0”
(https://bitcointalk.org/index.php?topic=583449.msg6461533#msg6461533)
[5439 MRO + 0.685 BTC + 5728555.555 BCN raised for pool and 1652 XMR, 121345.46695471 BCN for the GUI wallet. Though this wallet was "rejected" as official GUI because wallet still has to be polished before building a GUI]
-437: “Yes, most Windows users should see a higher hashrate with the new build. You can thank NoodleDoodle. ”
(https://bitcointalk.org/index.php?topic=583449.msg6481202#msg6481202)
-446: “Even faster Windows binaries have just been uploaded. Install for more hash power! Once again, it was NoodleDoodle.”
(https://bitcointalk.org/index.php?topic=583449.msg6483680#msg6483680)
-448: “that almost doubled my hashrate again! GREAT STUFF !!!”
(https://bitcointalk.org/index.php?topic=583449.msg6484109#msg6484109)
-461: “Noodle only started optimization today so there may be gains for your CPU in the future.”
(https://bitcointalk.org/index.php?topic=583449.msg6485247#msg6485247)
[First day of miner optimization by NoodleDoodle, it is only May 1st]
-706: “The unstoppable NoodleDoodle has optimized the Windows build again. Hashrate should more than double. Windows is now faster than Linux. :O”
(https://bitcointalk.org/index.php?topic=583449.msg6549444#msg6549444)
-753: “i here tft is no longer part of the project. so is he forking or relaunching bytecoin under new name and new parameters (merged mining with flatter emission curve.) also. what is the end consensus for the emission curve for monero. will it be adjusted."
(https://bitcointalk.org/index.php?topic=583449.msg6561345#msg6561345)
[May, 5th 2014. TFT is launching FANTOMCOIN, a clone coin which its "only" feature was merged mining]
-761: (https://bitcointalk.org/index.php?topic=583449.msg6561941#msg6561941) [May, 5th 2014 – eizh on emission curve and tail emission]
-791: “As promised, I did Russian translation of main topic.”
(https://bitcointalk.org/index.php?topic=583449.msg6565521#msg6565521)
[one among dozens of decentralized and “altruist” collaborators of Monero in minor tasks]
-827: image
(https://bitcointalk.org/index.php?topic=583449.msg6571652#msg6571652)
-853: (https://bitcointalk.org/index.php?topic=583449.msg6575033#msg6575033)
[some are not happy that NoodleDoodle had only released the built binaries, but not the source code]
-950: (https://bitcointalk.org/index.php?topic=583449.msg6593768#msg6593768)
[Rias, an account suspected to be related to the Bytecoin scam, dares to tag Monero as “instamine”]
-957: “It's rather bizarre that you're calling this an "instamine" scam when you're so fervently supporting BCN, which was mined 80% before entering the clearnet. Difficulty adjustments are per block, so there is no possibility of an instamine unless you don't publish your blockchain (emission is regular at the preset interval, and scales adequately with the network hash rate). What you're accusing monero of is exactly what ByteCoin did.”
https://bitcointalk.org/index.php?topic=583449.msg6594025#msg6594025
[Discussion with rias drags on for SEVERAL posts]
-1016: “There is no "dev team". There is a community of people working on various aspects of the coin.
I've been keeping the repo up to date. NoodleDoodle likes to optimise his miner. TFT started the fork and also assists when things break. othe's been working on a GUI. zone117x has been working on a pool.
It's a decentralized effort to maintain the fork, not a strawman team of leet hackers who dwell in the underbellies of the internet and conspire for instamines.”
(https://bitcointalk.org/index.php?topic=583449.msg6596828#msg6596828)
-1023: “Like I stated in IRC, I am not part of the "dev team", I never was. Just so happens I took a look at the code and changed some extremely easy to spot "errors". I then decided to release the binary because I thought MRO would benefit from it. I made this decision individually and nobody else should be culpable”
(https://bitcointalk.org/index.php?topic=583449.msg6597057#msg6597057)
[Noodledoodle gets rid of the instaminer accusations]
-1029: “I decided to relaunch Monero so it will suit all your wishes that you had: flatter emission curve, open source optimized miner for everybody from the start, no MM with BCN/BMR and the name. New Monero will be ready tomorrow”
(https://bitcointalk.org/index.php?topic=583449.msg6597252#msg6597252)
[people trying to capitalize mistakes is always there.]
-1030: "Pull request has been submitted and merged to update miner speed
It appears from the simplicity of the fix that there may have been deliberate crippling of the hashing algorithm from introduction with ByteCoin."
https://bitcointalk.org/index.php?topic=583449.msg6597460#msg6597460
[tacotime “officially” raises suspects of possible voluntarily crippled miner]
-1053: "I don't mind the 'relaunch' or the merge-mining fork or any other new coin at all. It's inevitable that the CryptoNote progresses like scrypt into a giant mess of coins. It's not undesirable or 'wrong'. Clones fighting out among themselves is actually beneficial for Monero. Although one of them is clearly unserious and trolling by choosing the same name.
Anyway, this sudden solidarity with BCN or TFT sure is strange when none of these accounts were around for the discussions that took place 3 weeks ago. Such vested interests with no prior indications. Hmm...? "
https://bitcointalk.org/index.php?topic=583449.msg6599013#msg6599013
[eizh points out the apparent organized fudding]
-1061: "There was no takeover. The original developer (who himself did a fork of bytecoin and around a dozen lines of code changes) was non-responsive and had disappeared. The original name had been cybersquatted all over the place (since the original developer did not even register any domain name much less create a web site), making it impossible to even create a suitably named web site. A bunch of us who didn't want to see the coin die who represented a huge share of the hash power and ownership of the coin decided to adopt it. We reached out to the original developer to participate in this community effort and he still didn't respond over 24 hours, so we decided to act to save the coin from neglect and actively work toward building the coin."
(https://bitcointalk.org/index.php?topic=583449.msg6599798#msg6599798)
[smooth defends legitimacy of current “dev team” and decisions taken]
-1074: “Zerocash will be announced soon (May 18 in Oakland? but open source may not be ready then?).
Here is a synopsis of the tradeoffs compared to CyptoNote: […]"
(https://bitcointalk.org/index.php?topic=583449.msg6602891#msg6602891)
[comparison among Zerocash y Cryptonote]
-1083: "Altcoin history shows that except in the case of premine (Tenebrix), the first implementation stays the largest by a wide margin. We're repeating that here by outpacing Bytecoin (thanks to its 80% mine prior to surfacing). No other CN coin has anywhere near the hashrate or trading volume. Go check diff in Fantom for example or the lack of activity in BCN trading.
The only CN coin out there doing something valuable is HoneyPenny, and they're open source too. If HP develops something useful, MRO can incorporate it as well. Open source gives confidence. No need for any further edge."
(https://bitcointalk.org/index.php?topic=583449.msg6603452#msg6603452)
[eizh reminds everyone the “first mover” advantage is a real advantage]
-1132: "I decided to tidy up bitmonero GitHub rep tonight, so now there is all valuable things from latest BCN commits & Win32. Faster hash from quazarcoin is also there. So BMR rep is the freshest one.
I'm working on another good feature now, so stay tuned."
(https://bitcointalk.org/index.php?topic=583449.msg6619738#msg6619738)
[first TFT apparition in weeks, he somehow pretends to still be the "lead dev"]
-1139: "This is not the github or website used by Monero. This github is outdated even with these updates. Only trust binaries from the first post."
(https://bitcointalk.org/index.php?topic=583449.msg6619971#msg6619971)
[eizh tries to clarify the community, after tft interference, which are the official downloads]
-1140: “The faster hash is from NoodleDoodle and is already submitted to the moner-project github (https://github.com/monero-project/bitmonero) and included in the binaries here.
[trying to bring TFT back on board] It would be all easier if you just work together with the other guys, whats the problem? Come to irc and talk like everyone else?
[on future monero exchangers] I got confirmation from one."
(https://bitcointalk.org/index.php?topic=583449.msg6619997#msg6619997)
[8th may 2014, othe announces NoodleDoodle optimized miner is now open source, asks TFT to collaborate and communicates an exchanger is coming]
-1146: "I'll be impressed if they [BCN/TFT shills] manage to come up with an account registered before January, but then again they could buy those.”
(https://bitcointalk.org/index.php?topic=583449.msg6620257#msg6620257)
[smooth]
-1150: “Ring signatures mean that when you sign a transaction to spend an output (coins), no one looking at the block chain can tell whether you signed it or one of the other outputs you choose to mix in with yours. With a mixing factor of 5 or 10 after several transactions there are millions of possible coins all mixed together. You get "anonymity" and mixing without having to use a third party mixer.”
(https://bitcointalk.org/index.php?topic=583449.msg6620433#msg6620433)
[smooth answering to “what are ring signatures” in layman terms]
-1170: "Someone (C++ skilled) did private optimized miner a few days ago, he got 74H/s for i5 haswell. He pointed that mining code was very un-optimized and he did essential improvements for yourself. So, high H/S is possible yet. Can the dev's core review code for that?"
(https://bitcointalk.org/index.php?topic=583449.msg6623136#msg6623136)
[forums are talking about an individual or group of individuals with optimized miners - may 9th 2014]
-1230: "Good progress on the pool reported by NOMP dev zone117x. Stay tuned, everyone.
And remember to email your favorite exchanges about adding MRO."
(https://bitcointalk.org/index.php?topic=583449.msg6640190#msg6640190)
-1258: "This is actually as confusing to us as you. At one point, thankful_for_today said he was okay with name change: https://bitcointalk.org/index.php?topic=563821.msg6368600#msg6368600
Then he disappeared for more than a week after the merge mining vote failed.”
(https://bitcointalk.org/index.php?topic=583449.msg6645981#msg6645981)
[eizh on the TFT-issue]
-1358: “Jadehorse: registered on 2014-03-06 and two pages of one line posts:
https://bitcointalk.org/index.php?action=profile;u=263597
https://bitcointalk.org/index.php?action=profile;u=263597;sa=showPosts
Trustnobody: registered on 2014-03-06 and two pages of one line posts:
https://bitcointalk.org/index.php?action=profile;u=264292
https://bitcointalk.org/index.php?action=profile;u=264292;sa=showPosts
You guys should really just stop trying. It is quite transparent what you are doing. Or if you want to do it, do it somewhere else. Everyone else: ignore them please."
(https://bitcointalk.org/index.php?topic=583449.msg6666844#msg6666844)
[FUD campaign still ongoing, smooth battles it]
-1387: "The world’s first exchange for Monero just opened! cryptonote.exchange.to"
(https://bitcointalk.org/index.php?topic=583449.msg6675902#msg6675902)
[David Latapie announces an important milestone: exchanger is here]
-1467: "image"
(https://bitcointalk.org/index.php?topic=583449.msg6686125#msg6686125)
[it is weird, but tft appears again, apparently as if he were in a parallel reality]
-1495: “http://monero.cc/blog/monero-price-0-002-passed/”
(https://bitcointalk.org/index.php?topic=583449.msg6691706#msg6691706)
[“trading” milestone reached: monero surpassed for first time 0.002 btc price]
-1513: "There is one and only one coin, formerly called Bitmonero, now called Monero. There was a community vote in favor (despite likely ballot stuffing against). All of the major stakeholders at the time agreed with the rename, including TFT.
The code base is still called bitmonero. There is no reason to rename it, though we certainly could have if we really wanted to.
TFT said he he is sentimental about the Bitmonero name, which I can understand, so I don't think there is any malice or harm in him continuing to use it. He just posted the nice hash rate chart on here using the old name. Obviously he understands that they are one and the same coin."
(https://bitcointalk.org/index.php?topic=583449.msg6693615#msg6693615)
[Smooth clears up again the relation with TFT and BMR. Every time he appears it seems to generate confusion on newbies]
-1543: "Pool software is in testing now. You can follow the progress on the pool bounty thread (see original post on this thread for link)."
(https://bitcointalk.org/index.php?topic=583449.msg6698097#msg6698097)
-1545: "[on the tail emission debate] I've been trying to raise awareness of this issue. The typical response seems to be, "when Bitcoin addresses the problem, so will we." To me this means it will never be addressed. The obvious solution is to perpetually increase the money supply, always rewarding miners with new coins.
Tacotime mentioned a hard fork proposal to never let the block reward drop below 1 coin:
Code: if (blockReward < 1){ blockReward = 1; }
I assume this is merely delaying the problem, however. I proposed a fixed annual debasement (say 2%) with a tx fee cap of like 0.001% of the current block reward (or whatever sounds reasonable). That way we still get the spam protection without worrying about fee escalation down the road."
(https://bitcointalk.org/index.php?topic=583449.msg6698879#msg6698879)
[Johnny Mnemonic wants to debate tail emission. Debate is moved to the “Monero Economy” thread]
-1603: “My GOD,the wallet is very very wierd and too complicated to operate, Why dont release a wallet-qt as Bitcoin?”
(https://bitcointalk.org/index.php?topic=583449.msg6707857#msg6707857)
[Newbies have hard times with monero]
-1605: "because this coin is not a bitcoin clone and so there isnt a wallet-qt to just copy and release. There is a bounty for a GUI wallet and there is already an experimental windows wallet..."
(https://bitcointalk.org/index.php?topic=583449.msg6708250#msg6708250)
-1611: "I like this about Monero, but it seems it was written by cryptographers, not programmers. The damned thing doesn't even compile on Arch, and there are several bugs, like command history not working on Linux. The crypto ideas are top-notch, but the implementation is not."
(https://bitcointalk.org/index.php?topic=583449.msg6709002#msg6709002)
[Wolf0, a miner developer, little by little joining the community]
-1888: "http://198.199.79.100 (aka moneropool.org) successfully submitted a block. Miners will be paid for their work once payments start working.
P.S. This is actually our second block today. The first was orphaned. :/"
(https://bitcointalk.org/index.php?topic=583449.msg6753836#msg6753836)
[May 16th: first pool block]
-1927: "Botnets aren't problem now. The main problem is a private hi-performance miner"
(https://bitcointalk.org/index.php?topic=583449.msg6759622#msg6759622)
-1927: "Evidence?"
(https://bitcointalk.org/index.php?topic=583449.msg6759661#msg6759661)
[smooth about the private optimized miner]
-1937: “[reference needed: smooth battling the weak evidence of optimized miner] Yes, I remember that. Some person on the Internet saying that some other unnamed person said he did something hardly constitutes evidence.
I'm not even doubting that optimized asm code could make a big difference. Just not sure how to know whether this is real or not. Rumors and FUD are rampant, so it is just hard to tell."
(https://bitcointalk.org/index.php?topic=583449.msg6760040#msg6760040)
[smooth does not take the "proof" seriously]
-1949: "image
One i5 and One e5 connected to local pool:
image"
(https://bitcointalk.org/index.php?topic=583449.msg6760624#msg6760624)
[proof of optimized miner]
-1953: "lazybear are you interested in a bounty to release the source code (maybe cleaned up a bit?) your optimized miner? If not, I'll probably play around with the code myself tomorrow and see if I can come up with something, or maybe Noodle Doodle will take an interest."
(https://bitcointalk.org/index.php?topic=583449.msg6760699#msg6760699)
[smooth tries to bring lazybear and his optimized miner on board]
-1957: "smooth, NoodleDoodle just said on IRC his latest optimizations are 4x faster on Windows. Untested on Linux so far but he'll push the source to the git repo soon. We'll be at 1 million network hashrate pretty soon."
(https://bitcointalk.org/index.php?topic=583449.msg6760814#msg6760814)
[eizh makes publics NoodleDoodle also has more miner optimizations ready]
-1985: “Someone (not me) created a Monero block explorer and announced it yesterday in a separate thread:
https://bitcointalk.org/index.php?topic=611561.0”
(https://bitcointalk.org/index.php?topic=583449.msg6766206#msg6766206)
[May 16th, 2014: a functional block explorer]
-2018: “Noodle is doing some final tests on Windows and will begin testing on Linux. He expects hashrate should increase across all architectures. I can confirm a 5x increase on an i7 quad-core + Windows 7 64-bit.
Please be patient. These are actual changes to the program, not just a switch that gets flicked on. It needs testing.”
(https://bitcointalk.org/index.php?topic=583449.msg6770093#msg6770093)
[eizh has more info on last miner optimization]
-2023: “Monero marketcap is around $300,000 as of now”
(https://bitcointalk.org/index.php?topic=583449.msg6770365#msg6770365)
-2059: I was skeptical of this conspiracy theory at first but after thinking about the numbers and looking back at the code again, I'm starting to believe it.
These are not deep optimizations, just cleaning up the code to work as intended.
At 100 H/s, with 500k iterations, 70 cycles per L3 memory access, we're now at 3.5 GHz which is reasonably close. So the algorithm is finally memory-bound, as it was originally intended to be. But as delivered by the bytecode developers not even close.
I know this is going to sound like tooting our own horn but this is another example of the kind of dirty tricks you can expect from the 80% premine crowd and the good work being done in the name of the community by the Monero developers.
Assuming they had the reasonable, and not deoptimized, implementation of the algorithm as designed all along (which is likely), the alleged "two year history" of bytecoin was mined on 4-8 PCs. It's really one of the shadiest and sleaziest premines scams yet, though this shouldn't be surprising because in every type of scam, the scams always get sneakier and more deceptive over time (the simple ones no longer work)."
(https://bitcointalk.org/index.php?topic=583449.msg6773168#msg6773168)
[smooth blowing the lid: if miner was so de-optimized, then BCN adoption was even lower than initially thought]
-2123: (https://bitcointalk.org/index.php?topic=583449.msg6781481#msg6781481)
[fluffypony first public post in Monero threads]
-2131: "moneropool.org is up to 2KHs, (average of 26Hs per user). But that's still only 0.3% of the reported network rate of 575Khs.
So either a large botnet is mining, or someone's sitting quietly on a much more efficient miner and raking in MRO."
(https://bitcointalk.org/index.php?topic=583449.msg6782192#msg6782192)
[with pools users start to notice that “avg” users account for a very small % of the network hashrate, either botnets or a super-optimized miner is mining monero]
-2137: “I figure its either:
(https://bitcointalk.org/index.php?topic=583449.msg6782852#msg6782852)
-2192: “New source (0.8.8.1) is up with optimizations in the hashing. Hashrate should go up ~4x or so, but may have CPU architecture dependence. Windows binaries are up as well for both 64-bit and 32-bit."
(https://bitcointalk.org/index.php?topic=583449.msg6788812#msg6788812)
[eizh makes official announce of last miner optimization, it is may 17th]
-2219: (https://bitcointalk.org/index.php?topic=583449.msg6792038#msg6792038)
[wolf0 is part of the monero community for a while, discussing several topics as botnet mining and miner optimizations. Now spots security flaws in the just launched pools]
-2301: "5x optimized miner released, network hashrate decreases by 10% Make your own conclusions. :|"
(https://bitcointalk.org/index.php?topic=583449.msg6806946#msg6806946)
-2323: "Monero is on Poloniex https://poloniex.com/exchange/btc_mro"
(https://bitcointalk.org/index.php?topic=583449.msg6808548#msg6808548)
-2747: "Monero is holding a $500 logo contest on 99designs.com now: https://99designs.com/logo-design/contests/monero-mro-cryptocurrency-logo-design-contest-382486"
(https://bitcointalk.org/index.php?topic=583449.msg6829109#msg6829109)
-2756: “So... ALL Pools have 50KH/s COMBINED.
Yet, network hash is 20x more. Am i the only one who thinks that some people are insta mining with prepared faster miners?”
(https://bitcointalk.org/index.php?topic=583449.msg6829977#msg6829977)
-2757: “Pools aren't stable yet. They are more inefficient than solo mining at the moment. They were just released. 10x optimizations have already been released since launch, I doubt there is much more optimization left.”
(https://bitcointalk.org/index.php?topic=583449.msg6830012#msg6830012)
-2765: “Penalty for too large block size is disastrous in the long run.
Once MRO value increases a lot, block penalties will become more critical of an issue. Pools will fix this issue by placing a limit on number and size of transactions. Transaction fees will go up, because the pools will naturally accept the most profitable transactions. It will become very expensive to send with more than 0 mixin. Anonymity benefits of ring signatures are lost, and the currency becomes unusable for normal transactions.”
(https://bitcointalk.org/index.php?topic=583449.msg6830475#msg6830475)
-2773: "The CryptoNote developers didn't want blocks getting very large without genuine need for it because it permits a malicious attack. So miners out of self-interest would deliberately restrict the size, forcing the network to operate at the edge of the penalty-free size limit but not exceed it. The maximum block size is a moving average so over time it would grow to accommodate organic volume increase and the issue goes away. This system is most broken when volume suddenly spikes."
(https://bitcointalk.org/index.php?topic=583449.msg6830710#msg6830710)
-3035: "We've contributed a massive amount to the infrastructure of the coin so far, enough to get recognition from cryptonote, including optimizing their hashing algorithm by an order of magnitude, creating open source pool software, and pushing several commits correcting issues with the coin that eventually were merged into the ByteCoin master. We also assisted some exchange operators in helping to support the coin.
To say that has no value is a bit silly... We've been working alongside the ByteCoin devs to improve both coins substantially."
(https://bitcointalk.org/index.php?topic=583449.msg6845545#msg6845545)
[tacotime defends the Monero team and community of accusations of just “ripping-off” others hard-work and “steal” their project]
-3044: "image"
(https://bitcointalk.org/index.php?topic=583449.msg6845986#msg6845986)
[Monero added to coinmarketcap may 21st 2014]
-3059: "You have no idea how influential you have been to the success of this coin. You are a great ambassador for MRO and one of the reasons why I chose to mine MRO during the early days (and I still do, but alas no soup for about 5 days now)."
(https://bitcointalk.org/index.php?topic=583449.msg6846509#msg6846509)
[random user thanks smooth CONSTANT presence, and collaboration. It is not all FUD ;)]
-3068: "You are a little too caught up in the mindset of altcoin marketing wars about "unique features" and "the team" behind the latest pump and dump scam.
In fact this coin is really little more than BCN without the premine. "The team" is anyone who contributes code, which includes anyone contributing code to the BCN repository, because that will get merged as well (and vice-versa).
Focus on the technology (by all accounts amazing) and the fact that it was launched in a clean way without 80% of the total world supply of the coin getting hidden away "somewhere." That is the unique proposition here. There also happens to be a very good team behind the coin, but anyone trying too hard to market on the basis of some "special" features, team, or developer is selling you something. Hold on to your wallet."
(https://bitcointalk.org/index.php?topic=583449.msg6846638#msg6846638)
[An answer to those trolls saying Monero has no innovation/unique feature]
-3070: "Personally I found it refreshing that Monero took off WITHOUT a logo or a gui wallet, it means the team wasn't hyping a slick marketing package and is concentrating on the coin/note itself."
(https://bitcointalk.org/index.php?topic=583449.msg6846676#msg6846676)
-3119: “image
[included for the lulz]
-3101: "[…]The main developers are tacotime, smooth, NoodleDoodle. Some needs are being contracted out, including zone117x, LucasJones, and archit for the pool, another person for a Qt GUI, and another person independently looking at the code for bugs."
(https://bitcointalk.org/index.php?topic=583449.msg6848006#msg6848006)
[the initial "core team" so far, eizh post]
-3123: (https://bitcointalk.org/index.php?topic=583449.msg6850085#msg6850085)
[fluffy steps-in with an interesting dense post. Don’t dare to skip it, worthwhile reading]
-3127: (https://bitcointalk.org/index.php?topic=583449.msg6850526#msg6850526)
[fluffy again, worth to read it too, so follow link, don’t be lazy]
-3194: "Hi guys - thanks to lots of hard work we have added AES-NI support to the slow_hash function. If you're using an AES-NI processor you should see a speed-up of about 30%.”
(https://bitcointalk.org/index.php?topic=583449.msg6857197#msg6857197)
[flufflypony is now pretty active in the xmr topic and announces a new optimization to the crippled miner]
-3202: "Whether using pools or not, this coin has a lot of orphaned blocks. When the original fork was done, several of us advised against 60 second blocks, but the warnings were not heeded.
I'm hopeful we can eventually make a change to more sane 2- or 2.5-minute blocks which should drastically reduce orphans, but that will require a hard fork, so not that easy."
(https://bitcointalk.org/index.php?topic=583449.msg6857796#msg6857796)
[smooth takes the opportunity to remember the need of bigger target block]
-3227: “Okay, optimized miner seems to be working: https://bitcointalk.org/index.php?topic=619373”
[wolf0 makes public his open source optimized miner]
-3235: "Smooth, I agree block time needs to go back to 2 minutes or higher. I think this and other changes discussed (https://bitcointalk.org/index.php?topic=597878.msg6701490#msg6701490) should be rolled into a single hard fork and bundled with a beautiful GUI wallet and mining tools."
(https://bitcointalk.org/index.php?topic=583449.msg6861193#msg6861193)
[tail emission, block target and block size are discussed in the next few messages among smooth, johnny and others. If you want to know further about their opinions/reasonings go and read it]
-3268: (https://bitcointalk.org/index.php?topic=583449.msg6862693#msg6862693)
[fluffy dares another user to bet 5 btc that in one year monero will be over dash in market cap. A bet that he would have lost as you can see here https://coinmarketcap.com/historical/20150524/ even excluding the 2M “instamined” coins]
-3283: "Most of the previous "CPU only" coins are really scams and the developers already have GPU miner or know how to write one. There are a very few exceptions, almost certainly including this one.
I don't expect a really dominant GPU miner any time soon, maybe ever. GPUs are just computers though, so it is certainly possible to mine this on a GPU, and there probably will be a some GPU miner, but won't be so much faster as to put small scale CPU miners out of business (probably -- absent some unknown algorithmic flaw).
Everyone focuses on botnets because it has been so long since regular users were able to effectively mine a coin (due to every coin rapidly going high end GPU and ASIC) that the idea that "users" could vastly outnumber "miners" (botnet or otherwise) isn't even on the radar.
The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended) [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.
That's what cryptonote wants to accomplish with this whole "egalitarian mining" concept. Whether it succeeds I don't know but we should give it a chance. Those cryptonote guys seem pretty smart. They've probably thought this through better than any of us have."
(https://bitcointalk.org/index.php?topic=583449.msg6863720#msg6863720)
[smooth vision of a true p2p currency]
-3318: "I have a screen shot that was PMed to me by someone who paid a lot of money for a lot of servers to mine this coin. He won't be outed by me ever but he does in fact exist. Truth."
(https://bitcointalk.org/index.php?topic=583449.msg6865061#msg6865061)
[smooth somehow implies it is not botnets but an individual or a group of them renting huge cloud instances]
-3442: "I'm happy to report we've successfully cracked Darkcoin's network with our new quantum computers that just arrived from BFL, a mere two weeks after we ordered them."
[fluffy-troll]
-3481: “Their slogan is, "Orphaned Blocks, Bloated Blockchain, that's how we do""
(https://bitcointalk.org/index.php?topic=583449.msg6878244#msg6878244)
[Major FUD troll in the topic. One of the hardest I’ve ever seen]
-3571: "Tacotime wanted the thread name and OP to use the word privacy instead of anonymity, but I made the change for marketing reasons. Other coins do use the word anonymous improperly, so we too have to play the marketing game. Most users will not bother looking at details to see which actually has more privacy; they'll assume anonymity > privacy. In a world with finite population, there's no such thing as anonymity. You're always "1 of N" possible participants.
Zero knowledge gives N -> everyone using the currency, ring signatures give N -> your choice, and CoinJoin gives N -> people who happen to be spending around the same amount of money as you at around the same time. This is actually the critical weakness of CoinJoin: the anonymity set is small and it's fairly susceptible to blockchain analysis. Its main advantage is that you can stick to Bitcoin without hard forking.
Another calculated marketing decision: I made most of the OP about ring signatures. In reality, stealth addressing (i.e. one-time public keys) already provides you with 90% of the privacy you need. Ring signatures are more of a trump card that cannot be broken. But Bitcoin already has manual stealth addressing so the distinguishing technological factor in CryptoNote is the use of ring signatures.
This is why I think having a coin based on CoinJoin is silly: Bitcoin already has some privacy if you care enough. A separate currency needs to go way beyond mediocre privacy improvements and provide true indistinguishably. This is true thanks to ring signatures: you can never break the 1/N probability of guessing correctly. There's no additional circumstantial evidence like with CoinJoin (save for IP addresses, but that's a problem independent of cryptocurrencies)."
(https://bitcointalk.org/index.php?topic=583449.msg6883525#msg6883525)
[Anonymity discussions, specially comparing Monero with Darkcoin and its coinjoin-based solution, keep going on]
-3593: "Transaction fees should be a fixed percentage of the block reward, or at the very least not be controllable by the payer. If payers can optionally pay more then it opens the door for miner discrimination and tx fee bidding wars."
(https://bitcointalk.org/index.php?topic=583449.msg6886770#msg6886770)
[Johnny Mnemonic is a firm defender of fixed fees and tail emission: he see the “fee market” as big danger to the usability of cryptocurrencies]
-3986: (https://bitcointalk.org/index.php?topic=583449.msg6930412#msg6930412)
[partnership with i2p]
-4373: “Way, way faster version of cpuminer: https://bitcointalk.org/index.php?topic=619373”
(https://bitcointalk.org/index.php?topic=583449.msg6993812#msg6993812)
[super-optimized miner is finally leaked to the public. Now the hashrate is 100 times bigger than originally with crippled miner. The next hedge for "cloud farmers" is GPU mining]
-4877: “1. We have a logo! If you use Monero in any of your projects, you can grab a branding pack here. You can also see it in all its glory right here:
logo […] 4. In order to maintain ISO 4217 compliance, we are changing our ticker symbol from MRO to XMR effective immediately."
(https://bitcointalk.org/index.php?topic=583449.msg7098497#msg7098497)
[Jun 2nd 2014]
-5079: “First GPU miner: https://bitcointalk.org/index.php?topic=638915.0”
(https://bitcointalk.org/index.php?topic=583449.msg7130160#msg7130160)
[4th June: Claymore has developed the first CryptoNight open source and publicly available GPU miner]
-5454: "New update to my miner - up to 25% hash increase. Comment and tell me how much of an increase you got from it: https://bitcointalk.org/index.php?topic=632724"
(https://bitcointalk.org/index.php?topic=583449.msg7198061#msg7198061)
[miner optimization is an endless task]
-5464: "I have posted a proposal for fixed subsidy:
https://bitcointalk.org/index.php?topic=597878.msg7202538#msg7202538"
(https://bitcointalk.org/index.php?topic=583449.msg7202776#msg7202776)
[Nice charts and discussion proposed by tacotime, worth reading it]
-5658: "- New seed nodes added. - Electrum-style deterministic wallets have been added to help in the recovery of your wallet should you ever need to. It is enabled by default."
(https://bitcointalk.org/index.php?topic=583449.msg7234475#msg7234475)
[Now you can recover your wallet with a 24 word seed]
-5726: (https://bitcointalk.org/index.php?topic=583449.msg7240623#msg7240623)
[Bitcoin Pizza in monero version: a 2500 XMR picture sale (today worth ~$20k)]
-6905: (https://bitcointalk.org/index.php?topic=583449.msg7386715#msg7386715)
[Monero missives: CryptoNote peer review starts whitepaper reviewed)]
-7328: (https://bitcointalk.org/index.php?topic=583449.msg7438333#msg7438333)
[android monero widget built]
This is a dense digest of the first several thousand messages on the definitive Monero thread.
A lot of things happened in this stressful days and most are recorded here. It can be summarized in this:
  • 28th April: Othe and zone117x assume the GUI wallet and CN pools tasks.
  • 30th April: First NoodleDoodle's miner optimization.
  • 11th May: First Monero exchanger
  • 13th May: Open source pool code is ready.
  • 16th May: First pool mined block.
  • 19th May: Monero in poloniex
  • 20th May: Monero +1100 bitcoin 24h trading volume in Poloniex.
  • 21st May: New official miner optimization x4 speed (accumulated optimization x12-x16). Open source wolf0's CPU miner released.
  • 25th May: partnership with i2p
  • 28th May: The legendary super-optimized miner is leaked. Currently running x90 original speed. Hedge of the "cloud farmers" is over in the cpu mining.
  • 2nd June: Monero at last has a logo. Ticker symbol changes to the definitive XMR (former MRO)
  • 4th June: Claymore's open source GPU miner.
  • 10th June: Monero's "10,000 bitcoin pizza" (2500 XMR paintig). Deterministic seed-based wallets (recover wallet with a 24 word seed)
  • March 2015 – tail emission added to code
  • March 2016 – monero hard forks to 2 min block and doubles block reward
There basically two things in here that can be used to attack Monero:
  • Crippled miner Gave unfair advantage to those brave enough to risk money and time to optimize and mine Monero.
  • Fast curve emission non-bitcoin-like curve as initially advertised and as it was widely accepted as suitable
Though we have to say two things to support current Monero community and devs:
  • The crippled miner was coded either by Bytecoin or CryptoNote, and 100% solved within a month by Monero community
  • The fast curve emission was a TFT miscalculation. He forgot to consider that as he was halving the block target he was unintentionally doubling the emission rate.
submitted by el_hispano to Monero [link] [comments]

How to Mine Bitcoins : 4 easy steps to start mining

How to Mine Bitcoins : 4 easy steps to start mining

There are two ways of mining bitcoin: you can mine personally using your own equipment, or you can rent equipment using cloud-mining services. Cloud mining requires less investment, but you will likely receive less revenue. You can calculate your income using a calculator (https://cryptocalc.online/en) This article will explain:
how to start mining bitcoins;
what are the best programs for mining bitcoins;
what are the best equipment for bitcoin mining;
where to find the best bitcoin mining pools;
Let's consider different ways of mining. Method 1. Cloud Mining
1.Create a bitcoin wallet
To get bitcoins, you need to create a bitcoin wallet. Bitcoins are transferred to your bitcoin wallet using a unique address that belongs exclusively to you. Сheck your address, It will be a long sequence of letters and numbers.
Another important step in creating bitcoin wallet is to ensure its protection against potential threats through 2-step verification and cold storage. 2. Choose a cloud mining service provider
Cloud mining allows users to rent equipment (or hashing power) for bitcoin mining.
Top 10 cloud-mining services 2018:
  1. HashFlare
Has the highest yield of 200% of the contract value. Site with the best reputation and reviews.
  1. Genesis Mining
One of the largest and most reliable cloud minings. The company was founded in January 2014. Genesis Mining pays all the coins to your wallet daily.
  1. Eobot
This site is an excellent solution, easy to use, allowing you to convert various cryptocurrencies and immediately send PayPal payments. You can use an unlimited number of computers.
  1. MinerGate
Great service for mining, which has a comprehensive functionality for earning cryptocurrency with your computer. This is a pool for mining, you can mince through the browser or through the Minergate program. You can also set up the program to choose which coin is most profitable for mining now.
  1. Hashing24
Good service for Bitcoin mining.
  1. ViaBTC
This is the 7th largest bitcoin pool for mining, which is based in China.
  1. Bit Miner
They have their own equipment. The service has been working since 2015.
  1. Fleex
Known for high profit: 2 - 3% per contract per day.
  1. AWS Mining
The resource is quite young.
  1. OxBtc
The service of cloud mining, which has been working since February 2016.
Method 2. Personally Mining Bitcoin
1. Select the equipment for mining
As bitcoin mining becomes more difficult, more and more powerful equipment is needed to mining bitcoins. Consider all the equipment for mining and choose the option that suits you. In 2018 the most popular is Antminer S9. 2. Find a mining pool
If you do not already have a bitcoin wallet, get bitcoin wallet and then choose a pool for mining. A mining pool is a group of Bitcoin miners who work together, it is allows you to share resources and split the rewards, which can lead to quicker returns. As a result, you will earn more bitcoins, and your investments will start to bring profit.Yyou can find a complete comparison of mining pools on Bitcoin wiki (https://en.bitcoin.it/wiki/Comparison_of_mining_pools). Select the pool and register.
3.Set the program for mining
Some pools have their own programs for mining, some do not. If your chosen pool does not have such a program, it can be downloaded, for Mac, for example, you can use the MacMiner program, for a PC - BFGMiner.
4.Mining of bitcoins Connect the equipment to the computer and open the downloaded program for mining. Log in to your pool, enter your user name and password. Also check the address of your wallet.
submitted by lynaart to u/lynaart [link] [comments]

So I finally gave Honeyminer a try. (my personal semi-review)

This review was last updated 11-30-18
When I first was interested in trying this program I couldn't find anything about it. it seems a lot of people were too scared to try it since their is like no information about it other then from the web page itself. to be honest I was a bit scared to try it. I've tried many other software of this kind, on a "test" machine I'm not afraid to lose on a secondary network and router... incase its a scam or gonna give me a virus and I suggest anyone installing mining software do the same as a rule of thumb. please keep in mind the software is still relatively new and they are working to improve it still. They seem to be hiring as well if your interested in helping them grow by working for them look near the bottom for their contact e-mail. ____________________________________________________________________________________________________
This review is for the windows version of Honyminer Because its still relatively new I knew could go one of two ways "sacm software" like most every mobile mining app or even quite a few desktop ones - Or legit. I'm glad to say after using it for a month it seems legit. I was able to withdraw from it no problem. If your system is really crappy It might not work that well on your computer or mining rig. There are no ads and the program doesn't seem to disrupt any day to day activity at least not on my main system, however you can of course expect increased heat production of your system as with any mining software, adequate cooling is important in mining. Anyways Honyminer is as close to an easy one click mining software as I have come. they seem to be making a "pro" version too for more hardcore miners. They do take a fee which is to be expected *look near the bottom for fee information\* but that fee goes down significantly if you have multiple GPU's mining.. The good thing about it for me was it let me kind of set my rig to "autopilot" so to speak. If you wish to see the H/s numbers in real time, go to you settings and view the "expert logs" which will also tell what coin is being mined at the time ____________________________________________________________________________________________________________
Pros
Pro and or con (depending on how you look at it)
Cons:
_________________________________________________________________________________________________
COMPATIBILITY: (sorry it keeps adding asterisks to the card model for no reason)
WORKED ON: every nvidia card tested so far with card models dating back from 20014 to now..
Worked on some surprising low end and or old CPU and GPUs. like the
AMD Radeon R9 380 card in addition to a AMD Athlon II X3 450 Processor and it mines just fine.. of course that processor doesn't make much on its own lol.. but thats an extra 2 or 3 cents per day by itself. I've also tested it with an i3, i2 Most AMD cards worked but I ran into issues with a few so maybe it's easier for me to just tell you what did not work.
DID NOT WORK ON:
--- any of the AMD ATI Radeon HD 4250's tested so far (2) that particular card It didn't work at all for mining like never enabled the gpu but the cpu on that machine did work however it would generate an "error" on start up but otherwise did not disrupt the mining on that system except if I turned on idle earning mode, I would get a bunch of errors as it was trying to access the GPU. we need the functionality to enable or disable hardware individually I think. (errors or no errors it just seems like a good thing to have.)
OR a system that had both a AMD Radeon R7 Graphics and a AMD A8-7650K Radeon R7, (4C+6G) which surprised me considering some of the things that did work lol... but I think it might just might be that one system, but either way can't vouch that it will work. That system was pre-built and wont allow the parts to be changed or easily removed to be worth the effort since I have to use it for other things so unfortunately I can't test these on another mainboard at least not with wasting some time, money and patients that Id rather dedicate elsewhere for now.
I had some issues using one RX Vega 56 card but i think it's was just that card because another one did work just fine.________________________________________________________________________
FEES W/ comparison to nicehash
I'm not sure if this post will be helpful to anyone looking into this software or anyone whos looking to try a different mining software but if it dose great.
-- nicehash charges the following fees as far as "selling/mining" or withdrawing.
Payouts for balances less than 0.1 to external wallet 5%
Payouts for balances greater than or equal to 0.1 BTC to external wallet 3%
Payouts for balances greater than or equal to 0.001 BTC to NiceHash wallet 2%
Withdrawal fees from NiceHash wallet
Withdrawals from NiceHash wallet are subjected to the withdrawal fee, which depends on the withdrawn amount and withdrawal option.
WITHDRAWAL OPTION AMOUNT TO WITHDRAW FEE Any BTC wallet From 0.002 (min) to 0.05 BTC 0.0001 BTC
Any BTC wallet More than 0.05 BTC 0.2% of withdrawn amount
Coinbase More than 0.001 BTC FREE - No fee. but they also say Minimum Coinbase withdrawal limit is adjusted dynamically according to the API overload._____________________________________________________________________________
honyminer fees are based on number of GPU's working.
8% for 1 GPU or for 2 GPUs or more the fee is 2.5%.
The only withdrawal fee is the standard BTC transaction fee that bitcoin charges and it doesn't go to honyminer. When they add the other withdrawal functions that fee cam be avoided I suppose.
_________________________
Earnings: in comparison to nicehash
Update: sometimes software / test networks will give a view that can be off + or - a few percent compared to actual. A lot of different things can affect your earnings including where you are located in the world, I'm not sure how many of you uses more than one mining software day to day , ISP issues, crypto price fluctuation, updates to fee's, and inaccuracies in test software/networks can affect results. but I go back and forth between different ones from time to time and I think that's good practice to keep options open. I notice that honey miner seems to do better for me at night-time and early morning/afternoon is when it has the most trouble raking in the crypto's
That said I've been trying to test to see how this compares to nice hash earnings, with two of my buddies. So this is an average between the 3 of our profits vs loss compared to nice hash, I'm using a two 10 GPU/ 3 cpu setups, while one of my buddies is using two 1 gpu, 2 cpu setups and the other is using two 30 gpu mini farm's. We each have 2 networks each located relatively close by *less than .5 mile the furthest one* one with honyminer running and the other with nice hash and we are looking over 24 hour periods When all three of us have the results for one day, we average our results together. In all we will be looking over a 14 day period. UPDATE: the results below were done well long before the latest update to the software so I do not know if they have changed, Id have to do another round or perhaps some from the community could give me their results and save me a bit of work. I'm not sure when Id have the time to dig into it again. Sorry that it took me so long before I could get on here to post the results of the last few days of the tests.
Seem to be a bit smaller then nicehash at times and higher at other times. it seems to for me at least payquicker and it gets deposited in my nicehash account sooner than I expected.
hopefully when they let up pick which coin to mine on our own it may help somewhat, and any of you who want to move smaller volume will probably benefit when they add the functionality to withdraw other coin/usd.
anyways when their autopilot system works it works great but when it doesn't it's just "okay" for lack of a better word...
_____________________________________________________
Contact: they have a contact us part on their webpage and they also have a reddit page which I was made aware of from contacting them https://www.reddit.com/HoneyMine
Careers: If anyone is interested in working for them the job listings at the time of this typing were for Senior Java Developer(s) and Customer Service Representative(s) the email listed is [[email protected]](mailto:[email protected]). id suggest you check their site for the requirements I just added this part to the review as a courtesy if anyone's interested its not meant to be a focus of it. But I know we have some really talented people on reddit who care about the crypto world passionately so id rather give honyminer a chance to have some of those sort on their team since it might help improve the software faster for the end users.. if that makes sense.
_________________________________________________________
UPDATE: If a question reminds me I left out something I think should have mentioned Ill try to add it here so ppl don't have to scroll all over the place.. I don't write many reviews (for anything) so I don't know if this one was any good or not but I hope it was okay.. and I'm still a new reddit user relatively. I just wanted to make this review mainly because there is next to no information on honyminer when I looked for it and maybe it can help anyone whos interested in it.
browolf2 asked Is it basically like nicehash then? :
A: In a way, its like nice hash that its cloud based, but you get paid not just when your pool completes an order. there are no "buyers" only "sellers" if you look at it that way...I hope I'm wording this the right way.. It's just straight up mining and they take their fee but compared to nicehash the fees for "mining" are different
karl0525 asked: do you know if we can contact the honeyminer dev team and see if they will communicate here on Reddit. Might give them some good ideas what us miners are looking for? Worth a try maybe? Thanks:
A: I submitted a question to their "contact us" part of their webpage and I got a reply from them, this is the message I received below:
Thank you for writing in and for your interest in Honeyminer. We always welcome feedback and suggestions from our users. We are currently planning on expanding our online and social media presence.
Please check our our Reddit page: https://www.reddit.com/HoneyMine
submitted by Joe_Cow to gpumining [link] [comments]

Know More about Ulord Platform Architecture

Know More about Ulord Platform Architecture
The platform layer is the middle layer of the system, and plays a role as a bridge between application layer and base layer. The platform layer is categorized as support component and function component according to function. The support component provides functional components with basic function supporting. The platform layer is connected to blockchain of base layer through the functional components, providing the application layer with content distribution, sharing and payment service based on blockchain. The platform layer architecture is shown in Figure 2.
https://preview.redd.it/8mhnvo7jlzi11.png?width=787&format=png&auto=webp&s=795add7e65ba2defcef8ddf3b6b44a57f46eafaf
The core function of the platform layer is to build a basic network and service environment for content sharing platform. The main functional modules are as follows.

1.Ulord protocol

Ulord protocol is foundation of data transmission and service layer. The user based on Ulord protocol can upload resources quickly, search and purchase the interesting content. Ulord protocol realizes data distributed organization and accounting by defining a series of rules.
Distributed general ledger
The foundation of Ulord protocol is distributed general ledger, which is the foundation to generate encryption currency (UlordToken). The difference between Ulord system and traditional bank and payment system is the trust system based on decentralization. The trust mechanism is achieved through interaction of different participants. Through a distributed consensus mechanism, the transaction becomes credible and every accepted transaction will be recorded in blockchain, namely distributed ledger establishment.
Storage of internal data of Ulord blockchain is carried out in the key value pair. Each key corresponds to corresponding resource or its metadata name, and through the search based on key name, the content resources of user’s attention is returned. In addition to name and element of the stored resources in Ulord, the remaining data storage mode of blockchain is completely consistent with bitcoin block structure. But the block hash algorithm, block reward function, block size, total number of blocks and offline chain in this project are optimized.
Ulord network
Ulord network is the infrastructure to extend Ulord blockchain original accounting and payment function. Its main function is to provide the internet environment for the users in paying, searching, downloading and uploading resources in blockchain. Accessing to Ulord is a prerequisite for sharing and distribution of contents. Different from HTTP, DNS or other protocols of traditional www Internet, Ulord network is based on Ulord protocol for user communication and data exchange. In application form, Ulord acts as the background daemon. On the one hand, it monitors the data request of the machine; on the other hand, it monitors other nodes in the network and exchanges data with them.

2.Ulord network service

Ulord network service is based on Ulord protocol, integrated with P2P downloading, distributed file organization, intelligent learning and other technologies, which constitute different functional modules. Ulord network service can be flexibly set according to user’s needs. Currently, the services provided mainly include the following categories.
Fast content search service
Ulord protocol provides metadata-based resource classification function. Each user resource can not only follow traditional search function based on description information, but also has the following characteristics: a. It provides fast resource location based on content addressing, rather than based on domain name addressing. File has a unique existence. When a file is added to Ulord network, a unique encrypted hash value will be assigned to the content based on the calculation. b. In addition to storage of hash value, blockchain running on Ulord is extended to support the storage of hash value table of files. When each network access occurs, query of the address of the file on chain is conducted.
Content distributed storage service
Ulord uses P2P hypermedia protocol, making the internet faster, more secure and more open. All nodes in Ulord form a globally oriented, peer-to-peer distributed file system, and all computing devices with the same file system are connected together. Each file and all the blocks are endowed with a unique fingerprint called encryption hash. Each node, through determining of hash value of file, judges the redundant files, to ensure that the data is not redundant in a single node. In the search for documents, you can find file storage node by the hash value of file to find the file you need; next, Ulord provides the history version controller of file, supports multi-node using and saves different versions of files to achieve file’s history status tracking.
Secondly, file storage in Ulord is not mandatory for every node to store all contents. The owner of node can choose data to be stored. For the nodes stored with large amounts of content, Ulord billing model automatically calculates the user benefits through the data amount of downloading service of file, so as to encourage users to upgrade their hardware resources to provide more comprehensive data storage and maintenance service to obtain benefits.
Node customization service
Ulord node includes centralization node and lightweight node. The centralization node has client to store all historical records (all transactions of all users) of UlordToken, manages user’s wallet, and can directly start trading on Ulord network. Node can handle all aspects of agreement, achieve independent verification of the entire blockchain and any transaction, and provide completely autonomous and independent transaction verification. But the centralization node client needs to consume a lot of computer resources (for example, more than 125 GB disk, 2 GB RAM). The lightweight node is deployed with lightweight client. Lightweight client, known as simple payment verification (SPV) client, connected to the complete node of Ulord, and used to access the transaction information. But the local place is used for storing the user wallet, and is independently created, validating and transferring the transactions. The lightweight client and Ulord are directly mutual without intermediary.
BitTorrent peer-to-peer content distribution service
Ulord, based on blockchain accounting, integrates BitTorrent peer-to-peer content distribution protocol, and adopts efficient software distribution system and peer-to-peer technology for sharing of large volume of files (such as a movie or TV show). Each of users can provide uploading service just like Ulord redistribution of nodes. In the traditional internet, downloading server provides each user issuing the request of downloading with downloading service. The working mode of BitTorrent is different. Holder of distributor or file sends the file to each user, and then it is forwarded by the user to other users; users forward their own files, until downloading of all users is complete. This method can make downloading server handle multiple files of large volume at the same time without occupying a lot of bandwidth.
Distributed hash index service
Ulord uses a distributed hash table (DHT, Distributed Hash Table) to organize the namespace of the user resource. Through the DHT, the relationship mapping (key, value) is realized in network nodes. DHT is a distributed system without center point to provide the key->value query. The mapping information from key to value is stored in many nodes in a distributed manner. Changes of data and node will only affect part of nodes, without an impact on all nodes. As a basic architecture, DHT can be used to build more complex applications, such as distributed file system, domain name service, instant messaging, P2P file sharing and content distribution platform. DHT defines a keyword space, such as bit string set of all 160 digits, then through certain algorithm, the keyword is mapped to all nodes of the whole DHT system. This algorithm is called consistent hashing. Through this algorithm, DHT can find a node according to a keyword and then operate the node, such as storing of data, query of data and so on.
Each node in DHT only needs to be connected with other nodes. A keyword is used to access any node, and the node can transmit information to the node corresponding to the key for processing. This process is called key-based routing. The search engine can get seed file from DHT net node through the character string without relying on seed server. BT download uses the public DHT network, which can greatly reduce the dependence on seed server.
Ulord resource self-purification service
Ulord is a decentralized network without center administrator to review and control content, so it is inevitable that there will be “inappropriate” content resources. Ulord is designed with network voting mode to support user node to initiate proposal, and vote on the content in the net resources. When voting results satisfy certain conditions, it is recognized as “inappropriate” content; the system can make “inappropriate” resources not be accessed by the unlimited increasing of resource charge or making resource offline.
Billing service
In Ulord, communication, storage, release and downloading of resources, in addition to the completion of corresponding application functions, are regarded as a transaction in blockchain. Most transactions in the network contains transaction fees (miner fee), such as publishing and downloading of resource. In Ulord network, users are encouraged to publish and spread high-quality resources. The main billing behavior mainly includes the following categories:
Release resources: when users name the resources, it is required to deposit certain amount of UlordToken; the deposited UlordToken are locked in user account, which cannot be transacted. After the resources are withdrawn, the UlordToken will be returned to the user account after deducting transaction fee. Therefore, Ulord can effectively prevent resources from being maliciously released (Spam);
Download resources: when users take online browsing, and download resources, the corresponding UlordToken in accordance with the set value of resources will be paid;
Resources propagation: when users share resources of other users; when the resource is connected with consumption behavior, benefit from resources spreading can be obtained.
Obtain benefits by providing resources storage: when user upgrades hardware, provide storage and download service as the central node, obtain benefits.
Obtain benefits by providing computing resources: when user node participates in the distributed accounting as miner to obtain benefits from it;
Initiate the proposal: when user initiates the proposal according to network content review, there is a need to pay UlordToken;
System R&D/maintenance: the system will reserve a certain proportion of UlordToken for proposal voting, functional research and development.
Integrated service process
The main process of platform layer service is as follows:
a. User joins Ulord network, and searches a file called “XX comedy film” in the network through the client;
b. Ulord network quickly index hash value on blockchain, and provides the relevant search results;
c. The user pays the corresponding UlordToken according to the paying information of the returned file, and “XX comedy film” file is cached to local place. “XX comedy film” file is not downloaded from cloud or server, but certain one or some nodes in Ulord;
d. In Ulord network, user resources are generally stored in Ulord nodes after being encrypted in blocks, and each block is stored in multiple user nodes or center nodes. Ulord network automatically searches the fastest way to download and recombine resources, so as to ensure that users can download file in the most efficient way;
e. After the user caches the files on his computer, he cannot only watch it, but also share to others;
f. You can also forward the resources in the network, and have the opportunity to get UlordToken.

3.AI service module

In platform layer, we add AI service mode, and the data the mode needs to process comes from two ways:
a. The operation data produced by the application layer, including user behavior data and application behavior data, etc.
b. The operation data of the platform layer and the base layer. Through AI technology, the operation of the underlying system can be more secure, stable and efficient.
The functions supported by AI include three parts: generation management, quality control and distribution effect management.
Generation management
It includes real-time tracking of popular sites and hot content, fast analysis of real-time, authority, influence and attractiveness of contents, information management and behavior analysis of high-quality authors. It attracts excellent content creators to build site by various ways.
Quality control
Original content validation: with block record information of the base layer, the originality of contents is analyzed, so as to prevent malicious imitation, and talking about old topics.
Sensitive information review: in addition to voting review mechanism, the system takes the vulgar content recognition based on AI; through semantic analysis and image detection identification, it controls pornographic and political sensitive topics.
Distribution effect management
Accurate recommendation: the site’s personalized content accurate push is achieved by searching users’ concerns and interests through their visits (browsing page, browsing order, browsing time).
The optimization of transmission path: based on the knowledge map, the propagation path is selected and optimized, the content access through the combination of the related contents is improved, and the user experience is better.
Malicious node analysis: the malicious nodes of “strip wool” in the content communication link are identified and removed to safeguard legitimate rights and interests of real users.
submitted by ulordchain to u/ulordchain [link] [comments]

Bitcoin Cloud Mining

NiceHash Review: Bitcoin Cloud Mining

Renting hashing power online is a great way to start mining cryptocurrencies without having to make the investment in mining equipment. So which one ranks among the most trusted cloud mining sites?
This site allows you to buy hashing power for Bitcoin, Ethereum, Monero, Dash, Zcash, Litecoin and other coins and get paid in bitcoin. There’s no contracts so if mining doesn’t turn a profit for you, you can immediately stop your investment.
NiceHash has real miners who use their own mining equipment which is connected to the site’s multipool so you’ll never have to worry if the mining equipment actually exists.

Buy and Sell Hashing Power‎

So if you want to start cryptocurrency mining but you’ve been hesitant because of shady cloud mining services, this is the solution that you’ve been looking for.
You’ll get access to a host of user-friendly features for buyers including:
A minimum order price of 0.005 Bitcoin for every algorithm No contracts, no risk. You may cancel at any time without a cancellation fee Only pay only for valid shares Mine on any pool you want, when you want Get access to real-time statistics & dashboard
The best part about cloud mining sites is that unlike actual bitcoin mining, you don’t have to spend weeks learning about mining hardware and software in order to get everything set up. In fact, with this site you can actually be up and running in just a few minutes.
Getting started in this site is easy. All you need to do is:
  1. Register a new account and deposit BTC.
  2. Add the mining pool you want to direct your purchased hashing power to.
  3. Set the fixed price or bid for mining and then create a new order.
  4. Monitor your order on the marketplace.
Another reason to consider cryptocurrency cloud mining is the fact that you can time your entry so that you can make the most of your investments. Getting in on cryptocurrency cloud mining while bitcoin prices are low means better returns later on versus having to invest in expensive mining hardware upfront.
So if you just want to learn how it works and place some initial orders, you can sign up for free to check it out for yourself.
Click here to join and you’ll also get a free guide to buying hashing power with tips on efficient mining.
submitted by RaiDee34 to u/RaiDee34 [link] [comments]

How to earn Bitcoin?

Overview - Table of Contents Introduction to Earning in Bitcoin Work for Bitcoin Sell for Bitcoin Affiliate Programs Gambling Bitcoin Mining Hardware Mining Cloud Mining Introduction to Earning in Bitcoin Bitcoin is the most popular digital currency in the world today. Bitcoin cloud mining is the fastest way to immediately begin earning bitcoins. Bitcoin is built using very complicated cryptographic principles, and supported by countless individuals and companies from all around the world. By early 2016, total Bitcoin market capitalization had crossed USD 7 Billion, making it almost as valuable as the GDP of a small country like Bahamas. All the other digital currencies together do not constitute even 20% of Bitcoin’s market capitalization, underlining the its dominance and importance in the world of digital currencies.
With such a huge amount of world’s capital available in the form of Bitcoins, the number and types of opportunities to earn in bitcoins are increasing by the day. In this article we will discuss such opportunities that help us earn bitcoins.
We will start with the easiest, or the one that is applicable for the maximum number of people, and then move to the tougher ones. In the end we will cover earning bitcoins by mining. Bitcoin mining is not an easy way to earn bitcoins, but we do have a number of easier ones we will discuss first. So lets start with ‘earning bitcoins by offering your services’
Work for Bitcoin Perhaps the easiest way to earn bitcoins is to work online or in real life for bitcoins. Because of the huge size of the bitcoin eco-system, a number of such opportunities and jobs are available. With Billions of dollars invested in Bitcoin by tens of thousands of people, there is a real market in Bitcoin, where you can find jobs for freelancers, software developers, writers, and others who get paid in bitcoins for their services.
Software development, writing, design, making websites or apps, audio transcription, are some of the most active types of jobs. You can easily discover the types of jobs by going over the more popular job boards for bitcoin related work. The following job boards or forums are some of the best places to look for such jobs or gigs.
Freelancing
XBTfreelancer Cryptogrind Bitlancerr Coinality Bitgigs Jobs4Bitcoins Rein Project Crypto Jobs List Market Places
OpenBazaar Purse.io Bitify /bitmarket 21 Market Video Streaming
Watchmybit Streamium.io Tasks
Bitasker BitforTip WillPayCoin File/Image Sharing
Supload.com SatoshiBox JoyStream Advertising
CoinAd A-ads Coinzilla.io Also, check BitcoinGames for ideas on earning bitcoin and blockchain game assets.
Sell for bitcoin You can also get Bitcoin by selling your old laptops, phones or other items for Bitcoins. Such types of transactions are happening more and more, and a lot of buyers are already buying anything from iPhones to even cars by paying with Bitcoins. For Americans, Craigslist.com is your best bet when you want to find such buyers. You can mention in your ad that you are willing to take payment in Bitcoin. This way if anyone wants to buy the item for you for Bitcoin, they can contact you and make an offer. The same principle applies to other online marketplaces such as gumtree for UK, kijiji for canda etc.
Affiliate Programs Affiliate programs allow a promoter of a business or product to earn money or bitcoins by refering new clients to such businesses or products. For example, amazon.com has a popular affiliate program, where you can earn commission ranging from 2% to 20% for refering clients to products listed on amazon.com. Amazon normally pays in dollars, but there are a number of other sites and businesses which pay you in bitcoin for acting as their affiliate.
Some of the more popular affiliate programs that pay out in Bitcoin are by the sites: cex.io, coinbase.com, okcoin.com and namecheap.com, among others. You can find a larger list of such affiliate programs on the bitcoin wiki page for Affiliates.
Gambling We do not recommend gambling for every player or every user; we find that gambling is only suitable for people who know how to win at it. However, if you are one of such lucky users who have some tricks up their sleeves, and can manage to win at games such as poker, then you will find that earning bitcoins is not that hard.
One of the many applications of bitcoin since the very beginning have been in betting games or gambling. Because of the relative anonymity of bitcoin, and the lower fees, it is very suitable for gambling related applications. Indeed, one such game, satoshiDICE, has been running since 2012, and has paid out a huge number of bitcoins in innumerable transactions to its winners. There are many such games, which you can find be googling.
If you want to gamble totally anonymously, you can play gambling or betting games that are available only on darknet or .onion sites. Such sites allow you to browse them anonymous by operating on the tor network, which is a secure network that allows users to browse .onion websites without exposing their own IP address.
Bitcoin Mining For each block that is added to the Bitcoin Blockchain, a number of bitcoins are rewarded to the creater of that block. This reward is currently, as of June 2016, 25 bitcoins per block, and it halves every four years. The next halving will be in July 2016. Creating or finding the new blocks, and therefore winning the reward of 25 bitcoins for each block you create, is called bitcoin mining. To do bitcoin mining successfully, you need very powerful computers, which compete with other computers to find the next block. The speed or power of computer that do bitcoin mining is calculated in hashes calculated per second.
There are two ways to do bitcoin mining: one is to own hardware or computers that do the mining, and second is to hire the hardware from a third party, usually online, and do the mining on the cloud. Let us discuss the advantages and disadvantages of both in next two sections.
Hardware Mining When you own the hardware that does the calculations and mining of bitcoins, its called hardware mining. Hardware mining is the more popular or prevalent of the two types of mining we mentioned. One of the biggest factors which comes into play when doing bitcoin mining using your own hardware is the price of electricity. If you pay top price for electricity, then bitcoin mining may not be your cup of tea. Another related factor is infrastructure needed to cool the hardware; since every cpu generates some amount of heat, you may need to cool the hardware in case they become too heated. No wonder that some of the most successful miners work from China, specially Tibet, where they can get cheap electricity, and their cooling costs are low due to high altitude which reduces the ambient temperature for them.
For a more in-depth information on how to setup your hardware mining equipment, have a look at the Antminer setup page.
Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:
AntMiner S7 AntMiner S7 Bitcoin Miner 4.73 Th/s 0.25 W/Gh 8.8 pounds Yes $479.95 AntMiner S7 Bitcoin Miner 0.1645
AntMiner S9 AntMiner S9 Bitcoin Miner 13.5 Th/s 0.098 W/Gh 8.1 pounds Yes $1,987.95 AntMiner S9 Bitcoin Miner 0.3603
Avalon6 Avalon6 Bitcoin Miner 3.5 Th/s 0.29 W/Gh 9.5 pounds No $499.95 Avalon6 Bitcoin Miner 0.1232 Cloud Mining There are a number of service providers that allow you to rent computational hardware from them, which can then be used to do bitcon mining. Some of these services are designed with bitcoin mining in mind, whereas others such as Amazon AWS are general purpose services that can also be used to do bitcoin mining.
Some of the cloud mining services which can be used to do bitcoin mining on the cloud are:
Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.
Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.
Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.
Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.
Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.
Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200.
Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out.
NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.
Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months.
MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s.
Written by Bitcoin Mining on May 4, 2016.
submitted by mibmabus to u/mibmabus [link] [comments]

Ulord’s 8 Technical Advantages

Ulord’s 8 Technical Advantages
📷
https://preview.redd.it/6b4n6ivmjej11.jpg?width=900&format=pjpg&auto=webp&s=7344f3335e085ae864a1bedc55ed4c305e14eb34
In order to meet needs of Internet content distribution, the original chain of Ulord introduces master node system. The structure of master node is established as a peer-to-peer distributed content distribution network (InterPlanetary File System, IPFS), which provides massive cloud storage resource pool and unified global addressable space storage resource. Considering the sustainable development of Ulord, voting system and budget system are introduced. Voting system can not only carry out intelligent evaluation on a variety of applications on application layer, but also can assist budget system, fund more developers to devote themselves into Ulord development, and make the ecological development of Ulord in a virtuous circle with more applications. In other implementations, Ulord can be compatible with smart contract, make the application of Ethernet be transplanted to the Ulord network. Ulord adopts the mixed mining mechanism of POW and POS, so as to ensure that the development of the block network is not held by hashrate.

1.Master node system

The whole node refers to server or common PC running the full client on the P2P network, which plays a role of spread of transactions and blocks in the blockchain network. To maintain normal operation of all nodes, a large amount of cyber source needs to be consumed, such as storage space and network flow. According to Zap Chain Magazine statistics, the number of all nodes in the bitcoin network shows a decreasing trend, which requires additional 40 seconds for block broadcasting. The community has put forward many solutions, such as the introduction of new award plan of Microsoft Research and the Bitnodes incentive plan, and try to increase the number of nodes, but without good solution.

https://preview.redd.it/mpp7l9pljej11.png?width=506&format=png&auto=webp&s=49a622c12123ed15e83450db66542ef520de228a
In order to maintain a healthy and stable blockchain backbone network, Dashi puts forward the solution of hierarchical network. Through the introduction of master node system, the stable backbone network can form to solve communication delay. In the system of Dashi, 1000 nodes of dash can be stored and upgraded to the master node. If it can be stable online in a period of time, 45% of income of each block network will be taken. But now, the master node system of Dashi still has many problems in the design and implementation. Firstly, according to the design rules of Dashi, the total number of coin of the whole system is about 17 million, and approximately 8 million have been issued. While the number of the master node is maintained at about 4800. As each master node needs to have 1000 dashes as guarantee, nearly 5 million Dashi coins are locked in master node. The number of circulating Dashi coins in the market is less than 3 million, which is obviously contrary to the initial design theory of bitcoin, and cannot guarantee a sufficient currency circulation in the market. Secondly, in the design of master node, there is no discrimination or considering QoS, and master node service quality is uneven. Therefore the network communication cannot achieve the desired results. Finally, only users with some computer knowledge can build master node, not all people have such a foundation. To entrust the third party often brings the risk to assets, so it is necessary to let more people participate in the maintenance of the master node network. As shown in Figure 3, considering different application scenarios, Ulord makes further improvement and optimization to the master node system as follows:
Voting mechanism of master node is introduced to enhance Ulord service quality.
In order to encourage users to join in the master node construction, Ulord distributes 25% of the entire network benefits to master node holders. While QoS assessment mechanism is introduced, and under the principle of survival of the fittest, some master nodes which do not meet the requirements will be eliminated. Therefore master node users must continuously invest and maintain to ensure good condition of nodes. QoS assessment mechanism mainly considers from the following several aspects:
Data packet loss rate: packet loss rate between master node and adjacent nodes is judged by ping-pong operation. If it exceeds a certain threshold, the node state is judged not to meet the service requirements, and the master nodes list is eliminated.
Network communication delay: the delay between master node and adjacent nodes is judged by ping-pong operation. If it exceeds a certain threshold, the node states is judged to not meet the service requirements, and the master nodes list is eliminated.
Data retransmission number: when retransmission times of master node and adjacent user node are too high, the user node will broadcast it on the entire network. When the reported number of this master node reaches the threshold, the master nodes is eliminated from master node list.
Proof-of-Stake mechanism is introduced to provide IPFS service.
In order to meet distribution mechanism of Ulord network, a large number of nodes are needed to bear the Internet data, and provide more high-quality video and data flow service. In Ulord, it ensures the network storage service with high quality from two aspects. First, in the Ulord network, 1TB of hard drive storage space is needed as a qualification guarantee for master node; through distributed technology, Ulord can integrate these master nodes into a massive storage resource pool. Second, in order to confirm that each master node is actually stored with data, Proof-of-Stake mechanism is introduced. This mechanism can randomly carry out integrity verification to the master node data by data holding proving and data recovery proving to ensure that the master node can provide stable data storage service. The main factors of the nodes are as follows:
Storage capacity: according to storage capacity size, the income is calculated in proportion.
Storage value: according to storage data value, determine whether the platform effective data are stored, and determine whether to calculate the income;
Store IOPS: IOPS (Input/ Output Operations per Second), that is the number of read/write (I/O) operations per second, measures the performance of disk random access. According to disk performance, judge whether to calculate the income.
More general master node platform. Ulord will provide a better user experience for user, while bringing more high-quality storage and network server for the system itself. To attract more investors to participate in the construction of the master node network, we will develop master node client software across the platform, including windows/Linux/OS x/Android and other mainstream systems. For Linux system, Docker package image will be provided directly for users to install conveniently.

2. Sidechain

Sidechain is not specifically referring to a certain chain, but refers to any chain
that obeys the rules of the sidechain. The Ulord sidechain rule means that the Ulord sidechain can verify the data from the Ulord main chain, and through the Two-way Peg (2WP), the UlordToken is safely transferred between the mainchains and sidechains at a fixed exchange rate to achieve assets transfer between the chains.
The Two-way Peg is roughly divided into the following stages:
a. Send a 2WP transaction to lock the UlordToken in the main chain;
b. Wait for a confirmation period, making the transaction confirmed by enough
blocks;
c. Transfer the UlordToken to the sidechain and provide proof of SPV or
miner’s vote;
d. Wait for a reorganization period to prevent double spending;
e. Unlock the UlordToken for normal use on the sidechain;
After a period of time, if the user wants to redeem the UlordToken to the main chain, the reverse action can be performed. The redemption operation provides a sidechain user with an exit mechanism to prevent users from being forced to bind assets to unwanted sidechain applications.
Each sidechain can operate in different networks, with independent economic patterns and corresponding DAPPs. Developers can construct a sidechain and then dock it to the Ulord main chain. While inheriting and reusing the Ulord main chain technology, they also share the pressure of the Ulord main chain.
Each DAPP deployed on the sidechain is allowed to have a unique set of ledgers. According to different application scenarios of the DAPP, the sidechain’s consensus mechanism and block parameters are allowed to be reformed. And because the sidechain is an independent system, the serious problem of DAPP on the sidechain will only affect the sidechain itself and will not affect the Ulord main chain.
Ulord supports multiple sidechains, each of which can support one or more DAPPs. Sidechains can have their own virtual machines, publish smart contracts, and remain compatible with Ethereum virtual machines.

3. Voting system

Voting system has two major roles on Ulord. The first is to evaluate the plan proposed by developers and promote community contribution to Ulord; the second is to review resources and sites on Ulord to maintain the orderly development of Ulord ecology. If there are developers contributing to Ulord good solutions or codes, they can get system rewards. Whether to award and how much reward of developers contribution are decided by community vote. In addition, Ulord allows users to publish their own site, which may cause the problem that a large number of applications launch make the entire ecosystem in disorder and difficult to govern. In order to purify the network environment and make Ulord ecology a healthy development, consensus evaluation mechanism is introduced for Ulord network intelligent maintenance. The resources posted by user on Ulord have a unique 160bit hash value. All master nodes can vote the site resources issued by users on Ulord and show their position. When the number of opposing votes in a certain period of time exceeds threshold value, the network will automatically prohibit resource transmission, and give time to make publishers rectify. If there is no rectification in the specified time, Ulord will automatically delete it. There are three kinds of voting types: Yes, No and Abstain.

4 .Budget system

In order to promote the healthy development of Ulord ecosystem, Ulord prepares 10% of income for developers of the whole community. Ulord provides unified proposal entrance for community development. The community developers can submit the improvement proposal of Ulord through the entrance. The submitted proposal will be broadcast to Ulord, and sent to users in the form of message. All Ulord users have rights to vote. When the number of a proposal support exceeds a certain threshold value (the current system is set to 30%), the proposal will be approved. Then, the developer submitting the proposal will begin to accept budget system support. For the same proposal, users need to make voting twice. After the first voting, development team will receive budget support, but only 50% of the budget will be provided for developers. Only after developers complete and launch the second voting, the user can receive the remaining 50% of budget support.
In concrete implementation, a super block will be automatically generated in every 17000 blocks, and funding for the community developers can be achieved through this block. The number of coinbase coin of super block is the sum of the blocks between the previous super block and the current super block after deducting of 10% of income, then txout is the budget address passing the budget. If the current super block has no budget, the funds will be automatically stored in the pool of funds, which is used for the following plan budget support.

5.Smart contract

Unified domain name mechanism
Ulord allows the users to call the API of platform layer to publish their own site service. In order to make Ulord users to get convenient access to other users’ resources on the Ulord platform, the readable character string easy to remember can be used as domain name. Before the user releases the resource, by specifying the domain name site, he can apply for the readable domain name easy to remember. But there is a need to bind certain amount of UlordTokens. With the passage of time, the quantity of UlordTokens will be gradually consumed with increasing of block; in other words, all the resources and websites on Ulord will be gradually consumed with the increasing block height. All UlordTokens consumed for applying for a domain name will flow into the underlying network and become a part of the cost of billing.
To support the readable domain name system, we introduce a new data structure Domain Claimtrie to store all domain names and the associated information on Ulord. As shown in Figure 5, in Domain Claimtrie, each node corresponds to a domain name, at the same time, each node also holds the node’s related transaction information, including a transaction. When the user applies for the domain name, it must be bound with a certain number of UlordTokens; the new domain name is allowed for registration, which is unique in Ulord. The user is supported for cancellation of domain name. After the domain name is cancelled, the domain name is automatically released. To support the integrity of the domain name tree, we modify the block structure of blockchain and adds a field Domain Claimtrie.
Properties of smart contract
Ulord has attribute of smart contract, and introduces the design concept of gas. But Ethernet gas consumes gas in each operation. Compared to the gas concept of Ethernet, Ulord adopts a more simplified and abstract method. The resources and site posted on Ulord by user will consume resources on the Ulord network. Therefore when the user releases resources or site, a certain amount of UlordTokens is needed to bound. With growing of block height, UlordToken will be gradually consumed, and the user needs to recharge the new UlordTokens to the corresponding address to ensure the ownership of domain name. At the same time, through sidechain technology, it can be compatible with Ethernet virtual machine, release smart contract, and allow users to publish their tokens. There is a certain proportion of exchange relationship between tokens and UlordToken. Ulord allows users to customize their releasing of site service, and through the issuance of their tokens, they can operate their own sites.

6 .Consensus algorithm

Ulord combines PoW (Proof of Work) and PoS (Proof of Storage) as the consensus algorithm. Among them, PoW uses the self-designed CryptoHello algorithm. The algorithm uses multiple serial cryptographic primitive operation. With the characteristics of computer architecture, it has the mining characteristics of permanent prevention of ASIC. POS mechanism is to encourage more master nodes to join. By providing more storage space, it brings in revenue for their own, and provides massive distributed storage space for Ulord.
PoW implementation mechanism
To make full use of idle resources for mining, Ulord uses the CPU mining algorithm CryptoHello. We have learned from the memory-hard PoW algorithm design ideas, combined with the features of the CPU, GPU, ASIC and other architecture, and designed a PoW algorithm CryptHello for CPU architecture optimization.
The method has 3 steps:use a pseudo-random sequence to initialize the working memory, modify the working memory, and produce the final result based on the working memory contents. As shown in Figure 8
In the initialization of the working memory stage, the input is calculated using the SHA3 function to initialize the linear congruence pseudo-random number generator seed. The working memory is continuously filled in units of K blocks (32 bytes per block), where the former K-1 block is generated by a pseudo-random number generator, and the last block is a random selection of one of the hash function families (16 different hash functions) based on the previously filled content and updates the random number generator seed.
At the initial modification of the memory, the SHA3 function is used to generate the seed of the random number generator based on the last piece of the work memory, and a state variable whose length is L bytes is initialized. This is followed by C main cycles, in each of which 64L subcycles will be performed. In the subcycle, a pair of addresses will be generated by the random number generator. The byte data in the two addresses in the work memory and the byte data in the state vector are combined and exchanged using exclusive OR methods to update the memory contents and state vector contents. After the end of the sub-cycle, the function vector of the hash function family will be used to update the state vector and re-initialize the random number generator seed. According to the existing parameter design, one quarter of the working memory will be modified.
In the final result generation phase, the content of d (a random number no greater than D) blocks in the contiguous XOR memory is updated with the hash function family, and d is recalculated to the last block of the working memory. Finally the SHA3 function is used to form the final result.
The main features of the above algorithm include:
a. The working memory capacity selects the CPU-oriented cache capacity optimization, but it is difficult for the GPU or the ASIC to meet the memory capacity requirement for executing a large number of PoW algorithms at the same time;
b. A family of hash functions constructed by 16 hash functions is randomly selected and executed. This will increase the chip area to realize ASIC, and it will cause the GPU’s multi-threaded execution of different paths, reducing its parallelization efficiency;
c. Strict serial execution sequence are used during the working memory modification stage, and they are accessed in units of bytes to control the execution parallelism of the ASIC or GPU and significantly reduce the memory system efficiency;
d. The control logic of the entire scheme is complex, the required memory capacity is large, and the memory access address is irregular. It is difficult to implement the ASIC by using a conventional method of stacking a large number of acceleration component modules.
The actual test shows that the above performance of PoW on the CPU is proportional to its number of cores.
PoS implementation mechanism
The main reason for collapse of bitcoin network node is lack of reward for running nodes. With the passage of time, more and more users will be connected to the whole network, so demand for bandwidth will become higher, demand for funds from node operator will be more, then the operation cost of the nodes increase. Considering rising cost, node operator must reduce their operating costs or operation light client, but this is not conducive to network health. The introduction of the master node technology can effectively avoid reduction of master node and prolong communication time. In Ulord, QoS is considered in the selection of master node, and master node is a full node. Block and trading can spread quickly through master node. Operation of a master node needs 10000 UlordTokens and more than 1TB of storage space. The deposit stored in the master node is not lost, which allows investor to earn certain return on investment when providing service for the whole net to reduce the UlordToken price volatility. In the Ulord network, the master node will account for 25% of the entire network revenue.

7. Privacy protection

Ulord uses the most popular privacy protection zk-SNARK technology to protect the trading privacy. In Ulord blockchain, to create a valid transaction includes the following three things:
a. Ensure that the currency in the address has not been spent in previous trading;
b. The sender proves that he is the currency “holder” in the way of authorized signature;
c. The transaction input is equal to output.
The ledger itself proves the money is not spent out before and does not require sender to do anything. The sender only proves that he is holder of the currency, and hopes to send out the currency in the way of electronic signature through the private key corresponding to address. To make the signature verified, the sender’s address must be open. Correspondingly, receiver must publicly accept his address to finish the transaction. In Ulord, it is simple to verify that the input and output of the transaction are equal, because the number of transmission is completely exposed.
Zero knowledge proof (specifically, zk-SNARKs) to verify the above three elements can protect privacy of users from revealing, without exposing sender, receiver and transferring amount. Every successful transaction is accompanied with zk-SNARK, and it proves that: the input asset exists, and has not been previously spent. The person who creates the transaction authorizes the transaction cost, and the input number and type are equal to the output number and type. The information for cost output (that is to create a new zk-SNARK) is attached to the transaction. It is encrypted with the public key of payee, and only used for the payee.
Figure 11 zk-SNARK technology protects transaction privacy
8.Instant payment
With the master node technology, the users can send and receive instant irreversible transaction. Once the instant transaction forms, the input of transaction is locked to the corresponding particular transaction, currently, the locking time of the whole net transaction is about 4 seconds. If a locking consensus is reached in the master node network, all transactions and blocks against it will always be refused, unless they can match the corresponding transaction ID which was locked at that time.
In this way, users can purchase goods and services through Ulord and receive payment confirmation quickly, without intervention from any centralized organization. Ulord can easily meet relevant business scenarios for instant payment.
submitted by ulordchain to u/ulordchain [link] [comments]

Is Cloud Mining More Profitable than Bitcoin Mining Hardware?

Getting started with bitcoin mining can be a difficult process for many. For example, you must consider things like the specific algorithm used by the Proof-of-Work cryptocurrency you want to mine. Additionally, bitcoin mining hardware can cost thousands or even tens of thousands of dollars. With all of these challenges it might be a good idea to look at alternative ways to gain cryptocurrency profits, but is cloud mining a legit, more profitable option in the long-run? In this article, we’ll compare these two possible options so you can make a more informed decision.
Costs of Bitcoin Mining Hardware
As discussed in this post, bitcoin mining hardware generally requires a substantial upfront financial commitment on the part of miners. First, it’s important to consider how much mining rigs cost. This not only depends on the cryptocurrency which you are aiming to mine but also how expansive and powerful your mining operation needs to be.
First, let’s consider hardware costs. If you want to mine BTC, for example, you’ll most likely need an ASIC mining rig. These are typically much more expensive compared to GPU and CPU mining rigs. Despite their potential to mine at much faster hash rates, ASIC mining rigs often face scrutiny for the fact that they cannot be repurposed. This means that, if a cryptocurrency project makes changes to their hash algorithms, ASIC miners will have to buy new gear. This can lead to some significant costs that can easily negate revenues and even lead to net investment losses.
In contrast, GPU and CPU mining gear can generally be repurposed if algorithm changes occur. In addition, these rigs are usually much less than their ASIC counterparts. Additionally, more projects are continuing to trend towards ASIC-resistance rather than ASIC-acceptance. For most miners, this means an overall reduction in both upfront and ongoing costs.
While having one mining rig might be a good first step to see if you can indeed become profitable, many people start out with more rigs to have a multiplier effect. However, even with rising prices, starting with multiple rigs should be done cautiously as each additional rig will likely add to the number of months it takes to make back your initial investment.
Of course, other factors like electric bill costs have to be considered. These vary by geographic area, making it difficult to put a precise amount on how much money is needed for keeping hardware rigs operations.
Costs of IT Cloud Mining
In comparison to hardware mining, costs for IT cloud mining are much simpler to calculate. Most companies run on a monthly subscription model that is determined by the cryptocurrency you want to mine and the hash rate speeds as seen on popular sites like Genesis Mining and HashFlare.
Prices for 2-year contracts of ETH mining with Genesis Mining currently vary from $1,520 at 40 MH/s to $12,960 at 360 MH/s.
HashFlare offers 1-year contracts of ETH mining for $1.80 per 100 KH/s.
Make sure to read reviews and check out projected ROI on any cloud mining service. The fact is that there are many services with extremely low profitability and even some which are known scams. Luckily, there are a few guides available on the best ways to identify potential cloud mining scams.
Hardware Mining ROI
Even though there is no way to say for certain how long it will take to break even on investments in hardware mining equipment or cloud mining, it’s still crucial to do research on estimated time frames. According to most miners, it’s difficult to expect to become profitable within 3 to 6 months. 10-15 months is realistic for many, though. A lot depends on crypto prices, electric costs, and the type of mining rig you use. Nicehash provides a good calculator for determining this.
IT Cloud Mining ROI
Based on information from Reddit forums, reviews, and ROI calculators, it is clear to see that cloud mining isn’t all that popular or profitable. For example, as of May 30, 2018, HashFlare Scrypt and SHA-256 currently take 3,828 and 3,983 days (or a little over 10 years) to reach ROI on BTC respectively according to this calculator from Coinstaker. Genesis Mining for ETH has an even worse ROI, taking around 25,992 days (70+ years). In both cases, it’s difficult to justify cloud mining over hardware mining.
The problem with keeping a subscription for cloud mining is that it can be difficult to keep paying monthly even in bear markets. These stats could certainly improve if we see a massive bull run as seen in December 2017; however, it can be pretty difficult to predict when a bull market will begin and end.
Compare this to using bitcoin mining hardware, and the choice is a bit more obvious. That’s because, even if the market is bear, most costs are upfront and not recurring. Sure, there are costs like electric bills to consider with hardware mining, but there are several locations throughout the world where energy consumption is very cheap and hardware mining is legal, making it a clearly more profitable option than cloud mining even in bear markets.
Conclusion
Despite the high upfront costs, the consensus is that bitcoin mining hardware remains much more profitable than cloud mining. Possibly the biggest benefit of cloud mining is its overall ease-of-use since it requires no difficult hardware installation and avoids potentially unpredictable electric costs. However, most in the cryptocurrency community would agree that if you can’t start a hardware mining operation, it’s probably best to make profits through trading rather than going the cloud mining route.
submitted by SwitchKanun to hashflareinfo [link] [comments]

4A Coin Whitepaper

4A Coin: A web-based cryptocurrency network. Summary~ Because the first generation cryptocurrencies such as Bitcoin, Ethereum and Litecoin distribute the money issuing task according to the power of machines such as GPU and CPU, they accumulate the payments in the mempool and they mine by changing the nonce number randomly or by continuously increasing it and trying repeatedly until they find a hash summary that matches the difficulty they specify, instead of processing the payments made in real-time instantly. This solution is ingenious if you want to use digital currency as a value storage tool. But when you try to use these digital currencies to pay for coffee or purchase a product online, it stands out as a disadvantage since you have to pay commissions to those miners and have to wait too long. As you know, the power of large payment solutions, such as Paypal or Western Union, comes from their servers and software. We also started working on a noncentralized, blockchain-protected end-toend (P2P) cryptocurrency that works as a web service. In such a case, for the system to survive and ensure security, instead of paying for the server cost, we set up a system where servers, that are nodes in the system, can get paid, provided they just stay online for 44 hours instead of mining. People get paid for a useful service they provide instead of wasting their time. There will be a reason for people to install this system on their servers because they are rewarded as long as they remain as servers. When people send an end-to-end payment, the servers, by finding a summary of this payment (They find this summary in order for all systems to meet at a common point and validate payments, and because it is a necessity of the blockchain architecture), ending with 4A, including the time, the sender, the receiver, amount, summary of the previous transaction and the data contained in a digital signature indicating that the sender is actually sending it, without any difficulty and they add it to their databases. Because there are no such concepts as block size or mining involved in any way, the registration process is completed instantly. We use a task queue management library called Celery Project, which is used by companies such as Instagram and Mozilla to prevent complication that may occur if 100 transactions take place within the same second. Security~ If you noticed when you entered the site, I told you that it was safer than Visa. This may seem an ambitious sentence for many, but if you actually know what you're doing when you buy a product online, you are aware of the risks involved. Risk & Problem~ When you type information in the payment form, such as credit card, CVV, and so on, malicious people on the web can read the data you send through these forms. Just because of this, payment solutions require you to add an SSL certificates to your site. These SSL certificates actually save your data using cryptography and protect it until it reaches the recipient. Well, what if the seller has bad intentions? Solution~ 4A Coin encrypts your payments using the Elliptic Curve Digital Signature Algorithm (ECDSA) and sends a signature confirming that you want to pay instead of giving your digital password to the network. This is actually the idea of Satoshi Nakamoto and it is known as P2PKH in Bitcoin. So if we actually compare 4A Coin to a credit card, then no one will ever see your credit card details. In addition, SSL certificate is no longer needed because a malicious user who can tap into your network seeing your payment signature won't change anything, besides it is already publicly shared everywhere. Thus, we have already gotten rid of certificate issues like security and SSL in the first place. Commission Solution~ When you benefit from a local payment solution, you will have to pay a commission to the companies you work with, between 5% and 20% of your sales. The coins you use in 4A Coin are already generated by the nodes, so they do not ask for a commission. Thanks to this, you do not pay commissions for transactions nor for any other reason. Wallets ~ wallet_id ~ 4A01eaedb37fc09fdb94c6d632adf9f63d private_key ~ cbc949239a333559f5dd8b0b5cf3d32923c2cab3 7c2bde9c8042a3dafe59a6b9 Your wallet is actually an ECDSA key pair. At first, we used RSA for this, but we had to switch to ECDAS because the keys were too long in the RSA and were taking too much space. Users have public keys, private keys, and wallet addresses created by processing public keys. Public key is not visible to users on the system. Instead, they will see a short version of a summary generated by public key processing as their wallet. def generate_wallet_from_pkey(public_key): binmnmn = public_key.encode('utf-8') first_step = 34 - len(settings.CURRENCY) wallet_id = hashlib.sha256(binmnmn).hexdigest() wallet_id = wallet_id[-first_step:] wallet_id = "".join((settings.CURRENCY, wallet_id)) return wallet_id This function simply creates a wallet from the simply given public key's SHA-256 summary. Public keys are required for the approval of digital signatures, so it is necessary to keep the public key in transactions. Payments~ When a user makes a payment, the payment time (in epoch format & GMT), the sender's address, the recipient's address, the summary of the previous transaction and the amount sent are transferred to a dictionary. This dictionary can be sorted differently on different computers, and to prevent this, the contents of this dictionary must be organized in a way that is ordered from A to Z, and will give the same result in everyone. data = collections.OrderedDict(sorted(data.items())) With the above code, we can create a stable dictionary that can work globally. Finally, we take a summary of this dictionary and record it in our database, and broadcast it to other servers that we have recorded it. Peer to Peer~ We use the TCP port and web socket technology to ensure that the system is P2P. For the script to work, you need to use Python3. Because, we use the Twister Matrix Library and the Autobahn Python libraries to provide real time transactions. The port we use globally is the 9000th port. There are 3 different types of broadcasting in real time processes: The first one is “Hi, I'm a new node, please add me to your network” and the other one is “Hi, I'm a new process, please verify me”. This is parsed on the server side and necessary actions are taken. The third broadcasting type will be explained in the proof of cloud section. Mining ~ A total of 450 million of 4A Coins will be issued with 300.000.000 Pre-mined. 150 million coins will be mined by a method called Proof of Cloud. Proof of Cloud~ Proof of Cloud or POC refers to a method of earning based on time as a server instead of mining. Each node, by staying online for 44 hours, will send a message as "I have been online for 44 hours, so check my database to see if I have been online by reviewing my recent transactions." If it proves that you have approved transactions for the last 44 hours, you will be eligible to receive the reward. Celery & Redis~ We use Celery, a library that automatically controls tasks so that certain processes can be repeated at certain times in the system. Celery needs Redis to work. Redis is an open source NoSQL (NoSQL is the name given to database systems that store “non-relational” data schematically. NoSQL is literally being used in the sense of "not-only- SQL", which means "only SQL is not used".) software written on Linux as the pure version. Keeping the system up and running~ We use Gunicorn 'Green Unicorn' and Nginx, the Python WSI HTTP Server, to ensure that the system can handle high load and maintain its endurance; Nginx is a Web server designed to focus on high concurrency, high performance and low memory usage. It can also be used as a reverse proxy server, load balancer, and HTTP cache. We were actually using Supervisord to keep all these systems up and running, but since Supervisord did not work with Python3 we started using Circusd developed by the Mozilla Foundation and we were more satisfied with it than Supervisiord. It is much easier to install and use, requires Tornado framework to work on its own, and works correctly with the 4.5.3 version of Tornado. This version is already installed automatically in requirements.txt, but it is important that you know this detail.
submitted by 4acoin to u/4acoin [link] [comments]

4A Coin Whitepaper

4A Coin: A web-based cryptocurrency network. Summary~ Because the first generation cryptocurrencies such as Bitcoin, Ethereum and Litecoin distribute the money issuing task according to the power of machines such as GPU and CPU, they accumulate the payments in the mempool and they mine by changing the nonce number randomly or by continuously increasing it and trying repeatedly until they find a hash summary that matches the difficulty they specify, instead of processing the payments made in real-time instantly. This solution is ingenious if you want to use digital currency as a value storage tool. But when you try to use these digital currencies to pay for coffee or purchase a product online, it stands out as a disadvantage since you have to pay commissions to those miners and have to wait too long. As you know, the power of large payment solutions, such as Paypal or Western Union, comes from their servers and software. We also started working on a noncentralized, blockchain-protected end-toend (P2P) cryptocurrency that works as a web service. In such a case, for the system to survive and ensure security, instead of paying for the server cost, we set up a system where servers, that are nodes in the system, can get paid, provided they just stay online for 44 hours instead of mining. People get paid for a useful service they provide instead of wasting their time. There will be a reason for people to install this system on their servers because they are rewarded as long as they remain as servers. When people send an end-to-end payment, the servers, by finding a summary of this payment (They find this summary in order for all systems to meet at a common point and validate payments, and because it is a necessity of the blockchain architecture), ending with 4A, including the time, the sender, the receiver, amount, summary of the previous transaction and the data contained in a digital signature indicating that the sender is actually sending it, without any difficulty and they add it to their databases. Because there are no such concepts as block size or mining involved in any way, the registration process is completed instantly. We use a task queue management library called Celery Project, which is used by companies such as Instagram and Mozilla to prevent complication that may occur if 100 transactions take place within the same second. Security~ If you noticed when you entered the site, I told you that it was safer than Visa. This may seem an ambitious sentence for many, but if you actually know what you're doing when you buy a product online, you are aware of the risks involved. Risk & Problem~ When you type information in the payment form, such as credit card, CVV, and so on, malicious people on the web can read the data you send through these forms. Just because of this, payment solutions require you to add an SSL certificates to your site. These SSL certificates actually save your data using cryptography and protect it until it reaches the recipient. Well, what if the seller has bad intentions? Solution~ 4A Coin encrypts your payments using the Elliptic Curve Digital Signature Algorithm (ECDSA) and sends a signature confirming that you want to pay instead of giving your digital password to the network. This is actually the idea of Satoshi Nakamoto and it is known as P2PKH in Bitcoin. So if we actually compare 4A Coin to a credit card, then no one will ever see your credit card details. In addition, SSL certificate is no longer needed because a malicious user who can tap into your network seeing your payment signature won't change anything, besides it is already publicly shared everywhere. Thus, we have already gotten rid of certificate issues like security and SSL in the first place. Commission Solution~ When you benefit from a local payment solution, you will have to pay a commission to the companies you work with, between 5% and 20% of your sales. The coins you use in 4A Coin are already generated by the nodes, so they do not ask for a commission. Thanks to this, you do not pay commissions for transactions nor for any other reason. Wallets ~ wallet_id ~ 4A01eaedb37fc09fdb94c6d632adf9f63d private_key ~ cbc949239a333559f5dd8b0b5cf3d32923c2cab3 7c2bde9c8042a3dafe59a6b9 Your wallet is actually an ECDSA key pair. At first, we used RSA for this, but we had to switch to ECDAS because the keys were too long in the RSA and were taking too much space. Users have public keys, private keys, and wallet addresses created by processing public keys. Public key is not visible to users on the system. Instead, they will see a short version of a summary generated by public key processing as their wallet. def generate_wallet_from_pkey(public_key): binmnmn = public_key.encode('utf-8') first_step = 34 - len(settings.CURRENCY) wallet_id = hashlib.sha256(binmnmn).hexdigest() wallet_id = wallet_id[-first_step:] wallet_id = "".join((settings.CURRENCY, wallet_id)) return wallet_id This function simply creates a wallet from the simply given public key's SHA-256 summary. Public keys are required for the approval of digital signatures, so it is necessary to keep the public key in transactions. Payments~ When a user makes a payment, the payment time (in epoch format & GMT), the sender's address, the recipient's address, the summary of the previous transaction and the amount sent are transferred to a dictionary. This dictionary can be sorted differently on different computers, and to prevent this, the contents of this dictionary must be organized in a way that is ordered from A to Z, and will give the same result in everyone. data = collections.OrderedDict(sorted(data.items())) With the above code, we can create a stable dictionary that can work globally. Finally, we take a summary of this dictionary and record it in our database, and broadcast it to other servers that we have recorded it. Peer to Peer~ We use the TCP port and web socket technology to ensure that the system is P2P. For the script to work, you need to use Python3. Because, we use the Twister Matrix Library and the Autobahn Python libraries to provide real time transactions. The port we use globally is the 9000th port. There are 3 different types of broadcasting in real time processes: The first one is “Hi, I'm a new node, please add me to your network” and the other one is “Hi, I'm a new process, please verify me”. This is parsed on the server side and necessary actions are taken. The third broadcasting type will be explained in the proof of cloud section. Mining ~ A total of 450 million of 4A Coins will be issued with 300.000.000 Pre-mined. 150 million coins will be mined by a method called Proof of Cloud. Proof of Cloud~ Proof of Cloud or POC refers to a method of earning based on time as a server instead of mining. Each node, by staying online for 44 hours, will send a message as "I have been online for 44 hours, so check my database to see if I have been online by reviewing my recent transactions." If it proves that you have approved transactions for the last 44 hours, you will be eligible to receive the reward. Celery & Redis~ We use Celery, a library that automatically controls tasks so that certain processes can be repeated at certain times in the system. Celery needs Redis to work. Redis is an open source NoSQL (NoSQL is the name given to database systems that store “non-relational” data schematically. NoSQL is literally being used in the sense of "not-only- SQL", which means "only SQL is not used".) software written on Linux as the pure version. Keeping the system up and running~ We use Gunicorn 'Green Unicorn' and Nginx, the Python WSI HTTP Server, to ensure that the system can handle high load and maintain its endurance; Nginx is a Web server designed to focus on high concurrency, high performance and low memory usage. It can also be used as a reverse proxy server, load balancer, and HTTP cache. We were actually using Supervisord to keep all these systems up and running, but since Supervisord did not work with Python3 we started using Circusd developed by the Mozilla Foundation and we were more satisfied with it than Supervisiord. It is much easier to install and use, requires Tornado framework to work on its own, and works correctly with the 4.5.3 version of Tornado. This version is already installed automatically in requirements.txt, but it is important that you know this detail.
submitted by 4acoin to u/4acoin [link] [comments]

New Free Bitcoin Cloud Mining Sites 2019  bitcoin  btc ... NEW FREE BITCOIN CLOUD MINING SITES 2019 WITHOUT ... Top 3 Free Bitcoin Cloud mining Site 2019 New Free Bitcoin ... Worlds Best And Highest Paying Bitcoin Cloud Mining Site ... Bitcoin Cloud Mining in 2019 Review - Profitable? Scam? Rock Miner  Genesis Mining  Hashflare

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