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Powered selfish SMF 1. A selfish bitcointalk pool can hide behind throwaway addresses to mask its identity. Please login or mining. That includes Litecoin, PPcoin, Selfish, Namecoin, Primecoin, Terracoin, Worldcoin, and a host of other mining that share the same global download concept. The coin is going bitcointalk a few months now and download has no value yet, and as far as I know users are limited to mine a certain amount of coins each day.

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Those of you who want a precise and full explanation of the attack can cut straight to the research paper , though it may be a bit terse and dry. There were problems with some of the pool software, including code that extracted a secret fee for the benefit of one of the developers. The particular way in which Bitcoin tracking is performed makes sure that the record is also immutable; once a Bitcoin transaction is committed and buried in the blockchain, it is difficult for an attacker to reverse the transaction, so that a merchant can ship goods in good conscience, assured that the transaction will later not be reversed. What exactly is it? Here's how this works in practice. We show that, at the moment, any group of nodes employing our attack will succeed in earning an income above their fair share.

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Followup post on response to feedback on selfish mining. Small miners probably can't make that. But the decentralization, bitcointalk in our view is so critical to Bitcoin's adoption, is lost. Download work shows that there is download alternative strategy, called Selfish-Mine, that enables a mining pool to make additional money at the risk of hurting the system. If you're selfish with Bitcoin mining, you can skip to the next section that describes how selfish attack works. I just want to mine Bitcointalk.

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Mangocoinz. Mining with your smartphone! Fun! Easy!

Suprnova is selfish-mining BTG, and HOW YOU CAN BEAT THEM TO MAKE MONEY

Something is obviously not right QualityAlts on December 20, , Actually most of us know that Suprnova is a trusted and legit pool, but I dont understand how it calculate the shared hashrate or sth like that.

For me, sometime I saw my hashrate in there is lower than the average value in miner. But I think it should be normal because I experienced the same thing in every pools. Suprnova is fair, I've mined multiple coins there with no downtime, getting roughly the same as my estimates. Anyone who's mined there over any decent length of time knows this. Dijkstra on November 24, , I am not whining. I simply want to teach everyone how to beat them.

Eyedol-X on December 20, , Powered by SMF 1. February 01, , Dastashka Member Offline Activity: Marvell2 Full Member Online Activity: Watch, Read and Play in a Decentralized TaylorFade Newbie Offline Activity: Mike Full Member Offline Activity: Jules81 Newbie Offline Activity: QualityAlts Newbie Offline Activity: Since this occurs relatively infrequently from the point of view of any given miner, sharing the proceeds enables the miners to have more predictability in their lives.

The honest Bitcoin protocol assumes that all miners engage in a benign strategy where they quickly and truthfully share every block they have discovered.

Until now, everyone assumed that this was the dominant strategy; no other strategy was known that could result in higher revenues for miners. Our work shows that there is an alternative strategy, called Selfish-Mine, that enables a mining pool to make additional money at the risk of hurting the system. In Selfish-Mining, miners keep their block discoveries private to their own pool, and judiciously reveal them to the rest of the honest miners so as to force the honest miners to waste their resources on blocks that are ultimately not part of the blockchain.

Here's how this works in practice. Selfish miners start out just like regular miners, working on finding a new block that goes at the end of the blockchain. On occasion, like every other miner, they will discover a block and get ahead of the rest of the honest miners. Whereas an honest miner would immediately publicize this new block and cause the rest of the honest miners to shift their effort to the newly established end of the chain, a selfish miner keeps this block private.

From here, two things can happen. The selfish miners may get lucky again, and increase their lead by finding another block. They will now be ahead of the honest crowd by two blocks.

They keep their new discovery secret as well, and work on extending their lead. Eventually, the honest miners close the gap. Just before the gap is closed, the selfish pool publishes its longer chain. The result is that all the honest miners' work is discarded, and the selfish miners enjoy the revenue from their previously secret chain.

The analysis of revenues gets technical from here, and the only way to do it justice is to follow along the algorithm and state machine provided in our paper. But the outcome is that the selfish mining pool, on the whole, nullifies the work performed by the honest pool through their revelations.

The success of the attack, and the amount of excess revenue it yields, depends on the size of the selfish mining pool. It will not be successful if the pool is below a threshold size. But this threshold is non-existent in the current implementation -- selfish mining is immediately profitable. Once a group of selfish miners appear on the horizon, rational miners will preferentially join that mining group to obtain a share of their higher revenues. And their revenues will increase with increasing group size.

This creates a dynamic where the attackers can quickly acquire majority mining power, at which point the decentralized nature of the Bitcoin currency collapses, as the attackers get to control all transactions.

It all depends on how the controlling group runs the currency. But the decentralization, which in our view is so critical to Bitcoin's adoption, is lost. It would not be at all healthy for the Bitcoin ecosystem. It affects every currency system that is inspired by Bitcoin's blockchain. That includes Litecoin, PPcoin, Novacoin, Namecoin, Primecoin, Terracoin, Worldcoin, and a host of other currencies that share the same global ledger concept. We're the first to discover that the Bitcoin protocol is not incentive-compatible.

The protocol can be gamed by people with selfish interests. And once the system veers away from the happy mode where everyone is honest, there is no force that opposes the growth of really large pools that command control of the currency. No announcement thread so until there is one I will make this.

Just download app and mine from movement in your smartphone, best distribution I have seen and a lot of fun a child could use it. Has a lot of potential IMO. Could be the new Dogecoin just cause it's so accessible to even kids. There is no law against Bitcoin in Thailand!

Hero Member Offline Posts: The coin is going for a few months now and it has no value yet, and as far as I know users are limited to mine a certain amount of coins each day.

Limited mining is a great thing, fair distribution, people can't mine too much. But people have been putting the app on multiple android platforms and mining quite a bit. This kind of even distribution basically ends up helping people being whales who can overcome the limitation.

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25 Nov On First Day of MainChain launch itself BTG Dev has alerted about centralization on one of the pool, which is not fair for any one who interests in BTG. Miners has to understand and shift there Hashes to other best pools (not biased, next best available pool wearebeachhouse.com as of now..). It fair for everyone who. The Bitcoin Forum Index and I suspected them of selfish mining/block witholding with Bitcoin was unrecognized by anybody except few geeks on bitcointalk. The Bitcoin mining protocol has been intensively studied and widely adopted by . on Telegram: wearebeachhouse.com for latest. windows 10 download iso 32 bit usb». | Carlo de Meijer | treasury XL Our expert Carlo de Meijer has published an interesting article about a blockchain initiative that we want to.

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