Search content
Sort by

Showing 20 of 21 results by bee_irl
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 16/02/2018, 02:54:15 UTC
The coin is insta-mined by definition, either by mistake, or intentionally. Luckily it's such a small % of the total supply.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 14/02/2018, 14:21:57 UTC
10k coins per block would really be 1k or 100 IPBC, much like every MIOTA traded on an exchange is actually 1 million IOTA tokens. If exchanges traded in IOTA instead of MIOTA then they would have to use less-than-one Satoshi for valuing IOTA tokens. This is why MIOTA exists. IPBC can do a similar thing to keep their circulating supply the same as originally intended. It’s quite simple. This is the best solution in my opinion. Second best solution is to just deal with it and wait for the supply to dilute the instamine. This is only a good solution if the devs are committed to a 2+ year effort here without seeing much price appreciation because it’s likely the random whales will cause extra downward price movement.

The “mishap” is in quotes because it implies to others that a mistake was made that may have not been a mistake. It doesn’t matter what you or I think about the intentions of the devs because no one can know that for sure. What does matter is the way it definitely looks to people at a glance. Mitigating this PR issue is as important as deciding what to do with the code and the coins.

Other projects have premine and bigger mistakes and survive because people spend time thinking of and proposing solutions. This thread is a “shitshow” because a mistake was made and there are conflicting opinions about the best path forward. It’s all constructive criticism as far as I can tell
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 14/02/2018, 05:10:16 UTC
As noted, that means mining would end in 4 months assuming the initial target of 1B total coins remained intact. So after 4 months we'd be left with video producers and viewers being rewarded with just the tail emission. I think that would kill the project quickly. They are, after all, the people who will decide the fate of the project in terms of widespread adoption of the IPBC platform, not miners or investors.
It seems like you haven't looked into IOTA or how many IOTA tokens actually exist. Simply moving the decimal place will easily move the total coin supply back to 1 billion total.

None of this even begins to address how you would accomplish paying the miners between the fix and start of your proposed hardfork when working with an anonymous blockchain.
I already suggested paying an additional 9600 coins to the receiving address for each coinbase transaction that pays only 400 coins. If pools were already in place they should have records of block payouts per coinbase. If not, worst case scenario is you can't re-distribute those 9600 coins per block (however many blocks were affected by this bug), and those miners are at a slight disadvantage because they mined 400 coins per block for a few days. That's a lot better than having a coin forever known to have an instamine "mishap".

The other solutions are worse because they have long-lasting drawbacks. Fixing the problem by buying out the coins only gives an incentive for million-coin holders to not sell because they know another whale is buying up coins and promising not to sell. The only winners there are the early insta-miners who hold instead of selling to the buying whale. Leaving the mining reward low at 400 coins per block is also pretty bad considering only 100m coins are mined per year (before a halving), although, I'm not sure what the halving schedule of this coin is. If the halving schedule happens quickly, the instamined coins are a bigger problem, because it will take longer than 2 years to reduce the instamine supply below 10%.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 14/02/2018, 02:23:14 UTC
Speedie, jimlite, IPBC devs - the actual answer is this:

1. Hard-fork back to the original 10,000 block reward
2. Move decimal place over to avoid sub-one-satoshi coins (look into how IOTA did this)
3. All miners who mined 400 coins per block after the "fix" should be given (through a hard-fork) an additional 9,600 coins per block to the output address in their coinbase transaction
4. Continue mining 10,000 coin blocks as if nothing happened

This is the only way to fix this problem and return everything to normal.

Every other solution proposed has terrible trade-offs and edge cases except for this one.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 13/02/2018, 05:23:04 UTC
jimlite: what would have been the issue with leaving the block multiplier of 10,000 in effect? What's the difference between having 1 billion and 10 trillion coins in circulation? In the end it's just a movement of the decimal place. DOGE would have been successful with 100 trillion instead of 100 billion coins. It is meaningless.

Like I said it is a moot point, but I'm curious, why do you think they needed to take action at all? I've convinced myself that moving the decimal place would have been the most fair and least destructive solution and wouldn't have required a hard fork like the actual solution or your first two proposals.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 13/02/2018, 05:01:38 UTC
The point remains that the devs should have left the "mishap" alone and not changed anything at all. It's too late now. This mishap, but more importantly the way it was handled and the decision made to "fix it", illustrates inexperience with crypto from leadership.


Again, you don't want to face the issue at hand, and just find ways to keep coming back at me. Instamine will ruin this coin because the early miners holding bags of 100k-500k coins from the day one will keep dumping the shit until its at 3 satoshi each. While right now the blocks are giving out only 470 coins.

Please tell me in what way this coin will ever survive like this. You'd rather let the coin die than admit that there's a problem of instamine?

I'd rather if the devs had the coins and they'd post the wallet address here for the sake of transparency.
smartcrypto: I agree with you on all counts that it is worse that there are unknown users with 500k coins or more, however, if you look at the emission schedule 100m coins released per year drowns out the instamine quickly. If the project isn't around in 2 years it's a failure anyway.


NOTE TO DEVS:

I have been a coach to devs and on teams to get pools, exchanges, miners, and investors for a few years now. I have seen problems with launches like this had, with the first day of 10K block rewards and now 470 per block. I have solved scenarios worse than this, but it takes effort from the dev team. I'll explain why this isn't a pre-mine, and sorta an insta-mine, but more importantly why does it matter and how to fix it. I recently solved a problem with a coin that had a 10% premine and it is doing VERY well now after my suggestions.

The problem we have here is NOT that the devs have the 1.6% of the supply from the bad 10k blocks. That is the situation we WANT. If the devs had the 1.6% supply, they would be in good strong hands, used for bounties, advertising, paying to get on Cryptopia and Bittrex, ect. The BIG problem we have is how much of that 1.6% is in regular early miners hands? Because THOSE GUYS are going to dump it to shit as soon as there is an exchange and ruin this otherwise good project.

So what is my solution (and this is from 5 years experience solving these issues, and usually for a bounty if dev is kind enough)? The dev/team should contact or post to find out who these rich list wallets belong to. If they are not on the team, then they are the early miners. Then the dev team should offer to buy all of their coins, or leave them with about 10% and buy the other 90% for safe keeping and business uses.  

I will also offer to any of these early miners to purchase some coins from them OTC for the initially proposed 1 cent/coin or 125 satoshi/coin.  Between the devs and myself removing most of the insanely cheap coins produced the first day from the 10k blocks, that would go a long way to solve this problem and any grievences about it.  If any of the early miners would like to take me up on the offer, just PM me here, or better yet on twitter @CRYPT0N1TE (the 0 is a zero and the 1 is a one). I have done countless deals like this and escrows in the past, and have many people on this forum, twitter, and other devs that can vouch for me and my history of solving these kinds of issues for them with a very positive outcome for all.

I can vouch  for jimlite / @CRYPT0N1TE and extend the same buy offer to richlist early miners.
notsofast, jimlite: On a positive note the solution proposed by these posters may mitigate some of the negative effects of this situation. Also the fact that the additional coins only add around 16 million to the 1 billion total supply is not so bad. I thought it was a lot more originally, 1.6% is recoverable, but will require extra effort from the team to make up for that loss.



Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 12/02/2018, 18:22:50 UTC
Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.


Please explain in your own words how this “fix” actually resolved the issue. Let’s talk in facts from here on out instead of appealing to emotion and using personal attacks.

Here are the facts:

1. The block reward was multiplied by 10,000 “accidentally”.
2. The solution to this “accident” was to adjust the block reward down with a hard fork.
3. Everyone who mines this coin now is wasting their time because the devs who mined the majority of all early blocks have a 10,000x lead on everyone else and own 90% of coins.
4. The devs are claiming this is not a pre-mine or instamine, even though this is the exact definition of an instamine.
5. The proper “solution” would have been to change nothing. Imagine if the hard-fork to reduce the block reward had never happened. The only negative effect of multiplying the block reward is an increase in total supply of coins. Which as we know from IOTA and DOGE does not matter. You could have a coin with 20 trillion coins rewarded per block, it doesn’t matter, because people will simply move the decimal place.

In other words, the “solution” chosen by the dev team reduced everyone else’s block reward while keeping theirs the same. The correct solution would have been to do nothing.

Why did the devs choose to give themselves 16 million coins as the solution to this “mishap”?

Please explain.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] IPBC | NOW LIVE | NO PREMINE | NO ICO | FIRST MEDIA MINING PLAYER
by
bee_irl
on 12/02/2018, 01:40:31 UTC
whats current total nunber of coins mined. also what happened to blocks that gave 10k coins in the start. are those orphaned?

1) 19.79m in circulation: https://explorer.ipbc.io/

2) No.



1. 9000 blocks
2. 400 coin block reward
3. 20 million coins in circulation
4. "No premine"


Please explain how all of these are true at the same time. Also, promising to peg the value of a coin to a dollar value is laughably absurd. Esspecially considering the 20 million coins in circulation, that would mean you'd need $2 million in reserve to buy back all the possible coins that could be sold on the market, which is unlikely.

Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - TestNet Thread - Pool Testing for Proof of Bible Hash Pool (PoBh)
by
bee_irl
on 10/08/2017, 17:52:26 UTC
Ah, you're right, that was around the same time.

It also happened again quite a bit later at block 604 with the same error as block 584/585:

Code:
2017-08-09 23:33:45 UpdateTip: new best=000015cb5f14b102bd89e9cd1c1e835e9ee56754895a7b6208272c40cac135fa  height=604  log2_work=26.525747  tx=2109  date=2017-08-09 23:33:43 progress=0.002907  cache=0.4MiB(1967tx)
2017-08-09 23:33:45  

 ** TestBlockValidity FAILED - pindexNew->pprev != chainActive.Tip() (assert(pindexNew->pprev == chainActive.Tip())); **

2017-08-09 23:33:45

BiblepayMiner -- runtime error: CreateNewBlock: TestBlockValidity failed:  (code 0)
2017-08-09 23:33:45 ProcessNewBlock : ACCEPTED
2017-08-09 23:38:45 UpdateTip: new best=00001db3d3ff8196dc01a228037e4c88254b44aa730e222b7e256426e207cb25  height=605  log2_work=26.533668  tx=2110  date=2017-08-09 23:38:43 progress=0.002908  cache=0.4MiB(1968tx)
2017-08-09 23:38:45 ProcessNewBlock : ACCEPTED
2017-08-09 23:58:15 UpdateTip: new best=00001744716e7698fcaae5352b51c16dde765c7c7a26d1ecbd333790e62ca92b  height=606  log2_work=26.542772  tx=2111  date=2017-08-09 23:58:13 progress=0.002910  cache=0.4MiB(1969tx)
2017-08-09 23:58:15 ProcessNewBlock : ACCEPTED

Went ahead and enabled debugmaster, will check in the morning to see if it happens again tonight.
Edit: seems like a normal fork or reorg. Were you watching the network to see if that happened?
Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - New Coin Launch - Official Thread
by
bee_irl
on 09/08/2017, 00:04:53 UTC
is there any one can post some node?  seems my wallet is not update anymore and stock in 2305 block

thanks

Code:
addnode=node.biblepay.org
addnode=97.99.69.33
addnode=36.77.73.19
addnode=202.118.225.153
addnode=45.76.15.106
addnode=174.138.32.249
addnode=99.198.174.212
addnode=45.55.24.14
addnode=162.243.171.195
addnode=202.97.251.251
addnode=51.15.160.85
addnode=97.99.69.33
addnode=47.93.223.203
addnode=139.99.131.169
addnode=112.3.32.41
addnode=113.123.192.18
addnode=113.123.208.222
addnode=114.240.148.65
addnode=118.112.31.11
addnode=118.112.31.14
addnode=118.112.31.3
addnode=118.112.31.5
addnode=118.112.31.6
addnode=118.112.31.9
addnode=118.113.135.42
addnode=119.135.207.175
addnode=119.23.210.14
addnode=119.23.211.233
addnode=119.23.220.145
addnode=119.36.79.132
addnode=120.202.46.63
addnode=123.119.25.243
addnode=138.68.227.166
addnode=139.99.131.169
addnode=159.203.188.228
addnode=162.243.161.213
addnode=162.243.171.195
addnode=171.251.12.198
addnode=174.138.34.137
addnode=174.138.34.54
addnode=174.138.34.64
addnode=174.138.34.71
addnode=174.138.34.81
addnode=174.54.43.236
addnode=182.151.203.19
addnode=182.151.203.62
addnode=185.134.230.158
addnode=188.230.139.163
addnode=198.199.89.94
addnode=198.211.109.101
addnode=202.97.251.251
addnode=207.245.41.195
addnode=208.68.36.193
addnode=218.3.102.1
addnode=218.3.33.86
addnode=221.221.171.175
addnode=221.233.70.237
addnode=222.175.36.134
addnode=58.130.255.101
addnode=67.205.134.62
addnode=67.205.159.108
addnode=67.205.183.9
addnode=67.207.81.139
addnode=67.207.81.222
addnode=67.207.81.58
addnode=67.207.89.62
addnode=67.207.94.159
addnode=77.106.146.9
addnode=77.172.68.14
addnode=83.151.2.66
addnode=93.84.236.241
addnode=97.90.153.65
addnode=97.99.69.33
addnode=99.198.174.212
Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - New Coin Launch - Official Thread
by
bee_irl
on 08/08/2017, 23:35:06 UTC
Mining on my Ubuntu PC, with an i7 I got this error after a few hours:
Code:
Floating point exception (core dumped)
with the newest update from today.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][RNK]★Rankine★supporting science★PoS/PoW★
by
bee_irl
on 08/08/2017, 01:57:12 UTC
The logo and favicon for the explorer will be updated as soon as the new one is complete and posted here.

Are there any requests with regard to the explorer? If it is missing anything it can be changed quite easily.

http://explorer.rankine.live/
Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - TestNet Thread - Pool Testing for Proof of Bible Hash Pool (PoBh)
by
bee_irl
on 07/08/2017, 08:49:43 UTC
This is great! Is it possible you could open source the pool software too?  Wink
Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - New Coin Launch - Official Thread
by
bee_irl
on 05/08/2017, 18:05:56 UTC
gitian is the way to go, everything else is a waste of time
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][RNK]★Rankine★supporting science★PoS/PoW★
by
bee_irl
on 05/08/2017, 17:05:15 UTC
Explorer is up at http://explorer.rankine.live/

I received the bounty for this task from the dev. Thank you  Smiley
Post
Topic
Board Archival
Re: [ANN][RKN]★Rankine★supporting science★PoS/PoW★
by
bee_irl
on 04/08/2017, 23:15:34 UTC
ugh, HUGE premine, and it's just a scrypt clone, not much here hey?
20 million, damn at one satoshi this is profitable for you to dump-scam and lord know shitheads will drag it above that even Cheesy
Code:
20000000×0.00000001×$2800=$580

Red trust OP as well, ya not gonna waste my time on this one, Shoulda made it a GPU algo atleast man
OP trust looks good to me, where do you see it's red? The premine is much less than most popular coins these days besides BTC of course.
Post
Topic
Board Archival
Re: [ANN][RKN]★Rankine★supporting science★PoS/PoW★
by
bee_irl
on 04/08/2017, 21:14:15 UTC
Explorer up http://34.231.227.49:3001/

Let me know if you want to point a domain here (explorer.rankine.live for example).

Rankine address: RGhbhmcnDFCzqa1HRT9xa8RBnxBfYgx95D
Post
Topic
Board Archival
Re: [ANN][RKN]★Rankine★supporting science★PoS/PoW★
by
bee_irl
on 04/08/2017, 20:54:39 UTC
Code:
   "vout" : [
        {
            "value" : 10000000.00000000,
            "n" : 0,
            "scriptPubKey" : {
                "asm" : "OP_DUP OP_HASH160 6279a2054f5f0d7fdd5942c6ce0638a9d8346b17 OP_EQUALVERIFY OP_CHECKSIG",
                "reqSigs" : 1,
                "type" : "pubkeyhash",
                "addresses" : [
                    "RJFt1WwbM5QpKWmSYLhLmq8ugysFPyCZnW"
                ]
            }
        }
    ]

Don't you think it's dishonest to offer 200k coins for dev rewards when 10,000,000 coins are mined per block?

10m is for bounty's and develop the coin

Okay, I see that now. For some reason I thought it was no premine. 10m premine and 31 coins per block otherwise. Thank you.
Post
Topic
Board Archival
Re: [ANN][RKN]★Rankine★supporting science★PoS/PoW★
by
bee_irl
on 04/08/2017, 20:40:17 UTC
Code:
    "vin" : [
        {
            "coinbase" : "510123",
            "sequence" : 4294967295
        }
    ],
    "vout" : [
        {
            "value" : 10000000.00000000,
            "n" : 0,
            "scriptPubKey" : {
                "asm" : "OP_DUP OP_HASH160 6279a2054f5f0d7fdd5942c6ce0638a9d8346b17 OP_EQUALVERIFY OP_CHECKSIG",
                "reqSigs" : 1,
                "type" : "pubkeyhash",
                "addresses" : [
                    "RJFt1WwbM5QpKWmSYLhLmq8ugysFPyCZnW"
                ]
            }
        }
    ]

Don't you think it's dishonest to offer 200k coins for dev rewards when 10,000,000 coins are mined per block?
Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - New Coin Launch - Official Thread
by
bee_irl
on 03/08/2017, 22:08:49 UTC
Try clicking on Tools | Peers and ensure you have no peers banned, reset wallet, delete banlist.dat, and ensure you are on 1017.
No peers were banned.

I was able to solve the problem by adding a bunch of addnodes as suggested by jc12345, though I found my nodes on the explorer before his post was created. The question remains: why can I connect to other nodes but not node.biblepay.org?

Its working for over 250 people - that leads me to believe it is something on your end that is interfering with the network.
Consider the following: node.biblepay.org was up until 3 hours ago (hypothetical). 250 people connected to node.biblepay.org and found each-other via their shared connection to node.biblepay.org. 3 hours ago node.biblepay.org went down or suffered a network interruption, meaning new nodes can't connect to it, but can connect to each other if added manually.

How else can it be explained that I can't connect to node.biblepay.org but I am able to connect to all other nodes?