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Rob Halförd - (Gridcoin)

Gridcoin GRC Information - Classic in Retirement

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dseeker

hi i am still facing issues to sync the latest client. some of the coins i mined were not passed on to the nodes, hence even though they showed as accepted on my miner it doesnt reflect and the client is still not syncing.  i am still contributing with boinc running on my system.

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joeykrug

Hi dseeker, try closing and reopening the client.  If that doesn't fix the issue, try rebuilding the block chain.  To make sure you are running the newest client, does it say version 49 in your mining console window?

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Rob Halförd - (Gridcoin)

So this's basically a Microsoft Boinc coin.

We have 3 OS's available.  All three gather boinc average daily credits per project and do complicated things while storing this in the block chain, and that portion works cross platform.

 

The linux/mac clients are behind in prod due to an issue in the cryptographic result of the cpuminer.

 

Yes, I am aware boinc can utilize opencl kernel cards for more performance.  We have users participating in milkyway with video cards now for higher rewards.

 

Rob Halford

PS I didn't intend to offend; I thought the original statement was telling us we were too lazy to write a linux version :).  All the best.

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dE_logics

We have 3 OS's available.  All three gather boinc average daily credits per project and do complicated things while storing this in the block chain, and that portion works cross platform.

 

The linux/mac clients are behind in prod due to an issue in the cryptographic result of the cpuminer.

 

Yes, I am aware boinc can utilize opencl kernel cards for more performance.  We have users participating in milkyway with video cards now for higher rewards.

 

Rob Halford

PS I didn't intend to offend; I thought the original statement was telling us we were too lazy to write a linux version :).  All the best.

 

You know, if you would've used a CPU only algo like Quark's, it would've been a better idea. CPU for the block chain and OpenCL for Boinc; the later being more valuable and consuming more energy.

 

Speaking of which, my Boinc contribution STOPPED cause of crypto mining. This coin is a very positive step.

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dE_logics

Also subsidy based on the resource utilization is not a good idea. It should be the no. of results and the amount of computation power donated.

 

Have you taken any measure of the client being modified to report fake results?

 

I think you should talk to the boinc devs and start a crypto with them.

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Rob Halförd - (Gridcoin)

You know, if you would've used a CPU only algo like Quark's, it would've been a better idea. CPU for the block chain and OpenCL for Boinc; the later being more valuable and consuming more energy.

 

Speaking of which, my Boinc contribution STOPPED cause of crypto mining. This coin is a very positive step.

Yes I think Quark is OK, I checked it out, so far a pretty nice job.

 

 

However, I am not 100% sold that quark cannot be taken over by a 51% attack, or replicated to run in a gpu; hence it is Questionable if money is secure in the Quark chain.

 

Additionally, there are already 70,000 (not exadurating one bit) heat generating scrypt miners already in existence.  If they EXIST, then they are already wasting a lot of energy.

My goal is to help put the energy to good use; that is equivalent to saving energy.

 

So we chose scrypt for a reason.

 

And I am happy that we did since it fulfills the goal.

 

Best Regards,

Rob H.

 

PS After we move all users from litecoin over to gridcoin, we'll consider your ideas with much more weight, since then it will make sense.

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Rob Halförd - (Gridcoin)

 

Hi, I been looking a bit on this GRC of yours, and I realy like this Coin and the Idea behind it. I am very new to this cryptomoney, been watching around, and think this coin shows the real value of what the hashingpower should be used for. What can I do to get my hands of some of these Coins. I only have a laptop to mine it on, and I dont know how to start? Is there anything else I can do? like promoting this coin? I would like to promote it, just dont wanna do it before I am in it somehow :-/ I could buy some coins to, dont know where to do that. the best would be to promote GRC in a best way possible. And I think GRC should be pretty easy to sell(the idea), with GRC I can show people the real value of this product.

 

Tried to follow step by step, getting started, made a worker, then downloading the miner, and WTF is the point in having it infected with a TrojanHorse??? 

Regards
Kenth Yngve

 

1) Google scrypt mining litecoin

2) Buy an r9270x radeon card

3) Mine gridcoin

4) There is no trojan horse in gridcoin; nor any viruses; nor any reason to believe there is; download gridcoin-master

5) Please do not swear on our boards, or you will be banned.

 

Rob Halford

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dE_logics

Yes I think Quark is OK, I checked it out, so far a pretty nice job.

 

 

However, I am not 100% sold that quark cannot be taken over by a 51% attack, or replicated to run in a gpu; hence it is Questionable if money is secure in the Quark chain.

 

Additionally, there are already 70,000 (not exadurating one bit) heat generating scrypt miners already in existence.  If they EXIST, then they are already wasting a lot of energy.

My goal is to help put the energy to good use; that is equivalent to saving energy.

 

So we chose scrypt for a reason.

 

And I am happy that we did since it fulfills the goal.

 

Best Regards,

Rob H.

 

PS After we move all users from litecoin over to gridcoin, we'll consider your ideas with much more weight, since then it will make sense.

 

No, CPU is the best short for 51%, as stated in by blog --

 

 

Limit this mostly to CPU, so only full blown computers can compute it, and one doesn't have to buy special purpose hardware. The hardware will be useless otherwise and after all coins have been mined (unless the incentive to mine is still up and maintained in some way like unlimited coins or high transaction fee), the miner will actually throw it away or sell it to someone else (who may be a cracker who's accumulating firepower for bad mining). This is partially true for GPU hardware, but they have a gaming purpose apart from computational purpose, and probably the miners will themselves use it in gaming. So all in all, prefer 1) CPU only, 2) CPU & GPU, 3) Special purpose hardware.

        

        With new hardware, mining efficiency will increase; the new miners of the new hardware will start accepting transactions of lower transaction fees making the old hardware redundant cause they take more electricity. They will be sold cheap cause of this reason (lower profit margins or even losses).

 

        For an attacker, electricity cost is not of a concern, cause the attack time will be limited; he's going to earn money by making false transactions in blocks he mined.

        

        Yes -- the old hardware is old generation, but that doesn't mean it'll be slower.

        

        New hardware will not focus on higher hash rate, but power consumed per hash rate, thus, hash rate of new hardware may not increase exponentially making the network more vulnerable to attacks with older hardware.

        

        I'm not sure about the architecture of ASIC miners to comment on that. It's not an ARM processor which can be made faster by simply by increasing the clock speed. Modern AMD and Intel processors are not 4xPentium/athlon 64 @6GHZ. So an improvement in architecture does not necessarily mean faster speeds, it may have been done to reduce electricity consumption by half. Look at mobile processors for instance; they are more efficient than their Desktop (per Whetstone and dhrystone score) counterpart but slower.

 

        We just may have a similar trend for ASIC miners. Same consumption in [email protected] less hashing power.

        

        This's still worst for small alternative cryptocurrency using the same hashing algorithm. They're easy to exploit cause of low difficulty.

        

        

        If the algorithm is complex and unique, it'll need a LOT of R&D, the hardware will be expensive and insanely hard to make. It'll require a well funded team which only large organizations can afford and that too cost recovery will be from mining + selling of hardware not just by mining or attacks (where the price of cryptocurrency will drop resulting in a loss of the cracker cause he has to exchange a lot of coins in a small amount of time in order for it to be profitable). It'll take years to make such special purpose hardware; buying 16 Xeons and 4 server boards is cheaper. In contrast sha256 is way too simple and that's why making special hardware for was comparatively easy. How about an e.g. Scrypt is STILL missing on such hardware even after 2 years. Why? Such a special purpose hardware attack has never happened for sha256 and scrypt why do you think it'll happen for a more complex algo is exponentially more difficult than Bitcoin's?

        

        If someone is wanting to do a 51% attack on a CPU only crypto, his best shot is to buy a lot of VPS for a short period of time; and then it's to be noticed that CPU is something owned by everyone, graphics card and ASICs are not. So expect the difficult to be high cause a lot of people will be mining it. People easily buy a more expensive CPU cause it's generally useful, not only for mining which's the case with ASIC and partially with Graphics chips (in case the miner is not a gamer). So the crypto mining power will be more in the hands of the common people. It's also to be seen that the cost of VPS is mostly for the bandwidth available, not the CPU. The CPU model is not give in the most of the cases, giving a high risk factor. Also VPS cannot be sold off. So the attackers profitability relies completely by selling the coin who's price may decrease rapidly after the attack. Then check pointing makes things more difficult for him.

        

        CPU mining has 1 disadvantage however -- there's a lot of CPU power (not GPU power or control over special purpose hardware) in the hands of Botnets; under control of a cracker, he may have 51% hashing power for a small amount of time. However this requires great amount of coordination among the huge no. of botnets, this requires downloading the whole block chain which is hard for a block; then people are moving away from their virus-infested Microsoft Windows Desktop/Laptops to Android tablets and phones. So feasibility of such an attack is questionable.

 

Then add that with --

 

 

Unlimited mining will sure shot prevent a 51% attack; however it's not known if mining profitability will increase or decrease in the future. This combined with CPU only mining will make an artillery against 51% attacks, however in this case (i.e in the long run), the algorithm being CPU only is highly questionable.

            

            If almost all coins have already been mined and if there's limited mining of coins forever (like with 2) D)), then the incentive to mine will neither be high or low. If the coin is CPU only (i.e. complex hashing algorithm), then there'll be less initiative to make exclusive mining hardware, cause all coins have already been mined on the CPU. This's going to prevent a 51% attack further. Then people pool mine, they'll use their free CPU cycles to earn a little bit of money driving the difficulty up, further reducing the chance of an attack. This is very likely to happen cause everyone known they got a CPU, everyone has and there's no harm in using it to earn a little bit of money for almost no electricity cost (65W). So difficulty will be up, and still there'll be no incentive to make new mining hardware.

 

I dont think the Scrypt ASICs are real. Most of these are fraud I think, looking at their planned prices and 'pre orders'.

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chovy

is this a currency that can be traded on an exchange and used for commerce? if not, I don't see it having any value except for those who want to help the BOINC project, which they would just do directly.

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aysyr

is this a currency that can be traded on an exchange and used for commerce? if not, I don't see it having any value except for those who want to help the BOINC project, which they would just do directly.

 

It can be traded, sent and spent just like any other cryptocurrency. It's already on an exchange called www.c-cex.com. Albeit it's a new exchange, it's actually quite responsive and reliable from what I've experienced.

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aysyr

Give it some time, you should get it. I got mine in less than a minute which is a wonder because the email service I use usually takes several minutes to receive anything.

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GRDMINER

is this a currency that can be traded on an exchange and used for commerce? if not, I don't see it having any value except for those who want to help the BOINC project, which they would just do directly.

A aysyr already said it can be traded and as it is still a new coin the commercial value (in terms of buying something) will appear later (see the BTC history and it is still rare to find shops accepting BTC). And yes youre right you can BOINC directly but if the computer is already running why not earn some benefits?

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mudzahedin

I like this concept. I am already mining XRP through BOINC and now I am going to try setting it up for mining GRC simultaneosly. Reading the instructions and I hope I'll make it   :)

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MikeK

quick question.  would there be any particular reason why some microtransactions would be automatically sent from my gridcoin wallet?

 

there were 5 addresses where  .08 were sent.  Are these tied to the projects listed in the Projects Console menu and "query credits"?

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