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Showing 9 of 9 results by imicaihi
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Board Exchanges
Re: hitBTC.com - super fast and stable BTC/LTC/USD/EUR exchange
by
imicaihi
on 13/08/2014, 15:21:12 UTC
Dear Friends,

We have received numerous questions from you asking when we are planning to announce the next coin which will be added to the HitBTC trading platform.
The winner will be picked on August 11!
Good news - you still have more than a week to vote for a coin you like!

The leaders:
Latium - 28288 votes
Isracoin - 27441 votes
Cloakcoin - 21246 votes

Please note that a guest user can vote once every 24 hours; a registered HitBTC user can cast only one vote but this vote will be automatically multiplied by 10.

Also we have rescheduled a date when we are going to launch a previous winner of a Coin Voting to make its integration to HitBTC even better:
NXT will be added to our interface on August 8!

Thank you for choosing our service,
The HitBTC Team
http://i.imgur.com/0R3MKTl.png

Today is already August 13 so you are two days late already...
You should announce the winner so people get excited about voting again.
When they see you are not taking the dates serious they get frustrated because they spend time and effort on voting for their favorite coins.
Post
Topic
Board Announcements (Altcoins)
Re: ★★ DigiByte ★★ [DGB] ✈ DigiShield ✔ v2.9.1 ✔ Multi-Algo mining coming soon!
by
imicaihi
on 09/07/2014, 17:13:28 UTC
Quote
Doge is not seing the same problem for two reasons. A) They implemented an additional filter. B) Their net hash is much hire. There was a change in 0.9.1 we were unaware of that calculates difficulty differently. This has caused Bitcoin block times to go down to 8 minutes, and our block times to be significantly longer.  We are still looking to see if any other code is effecting things.


Thanks Jared,
Could you point in the direction of the specific code for that additional filter by dogecoin?

Much appreciated.
Post
Topic
Board Announcements (Altcoins)
Re: ★★ DigiByte ★★ [DGB] ✈ DigiShield ✔ v2.9.1 ✔ Multi-Algo mining coming soon!
by
imicaihi
on 08/07/2014, 23:20:26 UTC
For those who have been concerned about some of the issues with DigiShield we wanted to re-post what we just posted in the Nautilus forum:

Current Difficulty   2130  Shocked Shocked

That will take some time to find the next block, or some multipool needs to hit it.

Mining diff up to 2840. I really hope that proof of stake bug gets fixed really soon. My earlier statement looks potentially accurate, this keeps up with as long as blocks are taking to be solved, at the point of that bug being fixed "the next block" after review and fixing could really be the fork block.
Why is the difficulty going up? It should drop off when things like this happens, as that's the whole point of Digishield  Undecided

It's been well established that Digishield is a bit buggy. But ultimately since Proof of Stake is just around the corner, Digishield fixing isn't as much a priority. However, I'm sure other coins that decide to make use of it will have the issue resolved.

DigiShield by itself is fine, especially with the amplitude DigiFilter applied. DigiShield + 0.9.1 Bitcoin core update + Scrypt ASICs is the problem. We are updating this in the next DigiByte update when we switch to multi-algo mining.

Bitcoin is actually having some issues as well since the 0.9.1 protocol update that no one is talking about and the Bitcoin core dev team is ignoring when you ask them.

Look at this chart to see the average Bitcoin block time is now around 8 Min instead of 10 Min since the 0.9.1 core update on April 8th: https://blockchain.info/charts/avg-confirmation-time

We are experiencing the same issue as NAUT. We are the only coins with 0.9.1 + DigiShield. We live and we learn, & we should of tested it better and it goes to show we cant rely on the Bitcoin core dev team to be perfect. Smiley The 0.9.1 core update was not around when we initially developed DigiShield.

Good news is much fewer coins are in circulation for the short term. DigiShield still prevents multi-pool attacks & too many coins being produced to quickly, but a bit sluggishly at the moment. We are very much looking toward the future success of both coins and we cant wait to see POS implemented for NAUT. Cheers!

Jared,
Would you kindly provide a bit of in depth technical information on a) the problematic symptoms digishield is experiencing under the 0.9.1 codebase and b) What is the root cause of it and, if possible at the moment, c) how it will be solved?

Also, is Dogecoin for example experiencing anything similar now that they have switched to the 0.9(.1?) codebase?

Thank you.
Post
Topic
Board Announcements (Altcoins)
Re: [Ann]Vote New coins on Bter.com - Which new coin should Bter add in next week?
by
imicaihi
on 06/07/2014, 10:34:25 UTC
BIG VOTING GIVEAWAY AND BOUNTY!
Who wants to make money by voting on BTER?
Contact for details!

Post
Topic
Board Altcoin Discussion
Re: Bter Points BTR? What to do with them??
by
imicaihi
on 06/07/2014, 02:58:56 UTC
Anyone with BTER points who doesn't know what to do with them and doesn't really care, please go to voting section and vote for ISR Smiley
Post
Topic
Board Announcements (Altcoins)
Re: ★★ DigiByte ★★ [DGB] ✈ DigiShield ✔ v2.9.1 ✔ Multi-Algo mining coming soon!
by
imicaihi
on 20/06/2014, 14:29:41 UTC
I've been reading up on the multi-algo approach and the problem it is aiming to solve and wanted to see if I understood the problem itself properly and then try and understand how the multi-algo approach would solve it.
If I got it right, the main problem is that multi-pools come in for short periods of time, bring a huge spike of hashpower into the network, then leave after they have driven the diff drastically up to where it is no longer that profitable for them to mine.
The aftermath, once they leave, is twofold - a high diff left with much less hashpower to solve it (DigiShield helps mitigate that to a nice extent) and of course the coins the multi-pool dumps into the market upon leaving, driving the price down.
Another problem added here (and to each his own on its priority opposite the problems stated above) would be the security of the network in terms of 51% when gigantic pools (multi or otherwise) come in to have their cake, eat it too and then have it again (with the potential of double spend and such).

Does this describe the main, if not the entire scope of the problem?

Assuming it does, I am trying to understand how the multi-algo will essentially solve it or at least mitigate in a substantial way.
While I think I understand the reasoning given for it, I am struggling with the fact(?) that multi-pools these days are becoming multi-algo as well where essentially they allow miners to decide which algo to use and divert each algo to the most profitable coin within that algo's space.
Essentially what I see could happen here, is that such a multipool would now be able to direct ALL its algos into the DGB network (let's assume they work with the 5 chosen for DGB), so essentially under their control (as a pool) would be not just one algo but possibly 5 algos, assuming they can get enough hash power. Even if that possibility is remote and they cannot gain an overall 51% (which I think is indeed much less likely), they could still bring a total hashpower overall that would allow them to spike up the individual diffs and most of all, gain a chunk of the coins being mined and dump them into the market as they do now, driving prices down and then leaving for another coin while the diffs have spiked up for everyone else to deal with it, until the next cycle (each on their respective algo/diff within DGB).

I would appreciate some thoughts on my analysis of things. (From anyone, of course, but definitely from the DGB devs)
Post
Topic
Board Announcements (Altcoins)
Re: ★★ DigiByte ★★ [DGB] ✈ DigiShield ✔ v2.9.1 ✔ Multi-Algo mining coming soon!
by
imicaihi
on 19/06/2014, 11:40:45 UTC
If you want a look at the future of stable Alt Coins, read this:

https://www.rapidcx.com/blog/pantera-bitcoin-fund-sec-filing-reveals-96-million-investment

It's time to clean up and be professional...   Smiley

(posted in several forums)
Very interesting. These are the type of people we have sought to link up with since day one.  Thanks for posting!

I thought that might interest you. I see this as a perfect match for DigiByte. What better way to build value?

Onward and upward...

Much agreed. We actually have some very exciting stuff coming up on the investment front. Stay tuned.

As for multi-algo we are still working out coding bugs. No one has ever forked to multi-algo mining before. A few devs have told us it is not even possible. We disagree as we are most of the way there.

We are working very hard on multiple front right now. The next 6 months are going to be awesome for DigiByte! We are for excited!

DigiByte to the moon! Smiley

While I personally see a number of potential issues with multi-algo coins long-term (not even considering the hurdle of transitioning to it via fork) I'm all for anything innovative and admire the brainstorming and dedication. We're in the middle of an altcoin wasteland of clones, premines, pump-and-dumps, deceptive/vanishing devs, IPO scams, PoS scams, and more... I just enjoy seeing a dev team that actually cares about improving their coin and stands by their work and their community. I certainly hope DigiByte can pull this off - if you're looking for any input from me, drop me a PM and I'll let you know my thought process for Murraycoin before I opted to settle on solely Scrypt-2048. Keep up the good work - DigiByte is absolutely undervalued for almost every possible reason.
Thank you for the support and info! Any input about some potential long term issues you see with multi-algo mining would be much appriciated. We want to avoid all the problems and issues we can ahead of time.

I've been reading up (well, catching up I suppose) on the multi-algo approach and the problem it is aiming to solve and wanted to see if I understood the problem itself properly and then to try and understand how the multi-algo approach would solve it.
If I got it right, the main problem is that multi-pools come in for short periods of time, bring a huge spike of hashpower into the network, then leave after they have driven the diff drastically up to where it is no longer that profitable for them to mine.
The aftermath, once they leave, is twofold - a high diff left for much less hashpower to solve (DigiShield helps mitigate that to a nice extent) and of course the coins the multi-pool dumps into the market upon leaving, driving the price down.
Another problem added here (and to each his own on its priority opposite the problems stated above) would be the security of the network in terms of 51% when gigantic pools (multi or otherwise) come in to have their cake, eat it too and then have it again (with the potential of double spend and such).

Does this describe the main, if not the entire scope of the problem?

Assuming it does, I am trying to understand how the multi-algo will essentially solve it or at least mitigate in a substantial way.
While I think I understand the reasoning given for it, I am struggling with the fact(?) that multi-pools these days are becoming multi-algo as well where essentially they allow miners to decide which algo to use and divert each algo to the most profitable coin within that algo's space.
Essentially what I see could happen here, is that such a multipool would now be able to direct ALL its algos into the DGB network (let's assume they work with the 5 chosen for DGB), so essentially under their control (as a pool) would be not just one algo but possibly 5 algos, assuming they can get enough hash power. Even if that possibility is remote and they cannot gain an overall 51% (which I think is indeed much less likely), they could still bring a total hashpower overall that would allow them to spike up the individual diffs and most of all, gain a chunk of the coins being mined and dump them into the market as they do now, driving prices down and then leaving for another coin while the diffs have spiked up for everyone else to deal with it, until the next cycle (each on their respective algo/diff within DGB).

I would appreciate some thoughts on my analysis of things. (From anyone, of course, but definitely from the DGB devs)
Post
Topic
Board Project Development
Re: Multi Signature Address Script and Escrow Service
by
imicaihi
on 16/05/2014, 22:33:47 UTC
as a followup - I just tried doing a manual multisig transaction of a 6 of 10, using only compressed pub keys in the latest bitcoin core, but still getting tx rejected 22. the script is somewhat shorter than with the non-compressed, but definitely not by a huge amount.

Any ideas on how to get this to work?
I've seen people saying that with compressed pub keys even a 15 of 15 could fit within the 520b limit, so what am I missing here?
Post
Topic
Board Project Development
Re: Multi Signature Address Script and Escrow Service
by
imicaihi
on 16/05/2014, 15:25:43 UTC
Great work on this!

I've tried the service and a 2of3 worked great.
however, I tried something that I actually need right now in the form of a 6-of-10 and... no go Sad
Getting a tx rejected -22 and log error says "nonstandard transaction: scriptsig-size" which I assume relates to the 500b limit mentioned earlier in the thread.
Is there a way to make this work?
Reading around in some other discussions I saw being mentioned that even a 15 of 15 should work, so I'm a bit confused as to why 6 of 10 doesn't.

Also OutCast, on a side note, it would be really great if you could provide the non-minified bitcoinjs code (either as a download here or in the git repo) as part of the opensource approach.


Thanks! Smiley