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Messages - Pocket Sand

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106
Marketplace / Re: Buy Keyhotee ID with ProtoShares 10 PTS+
« on: November 22, 2013, 02:58:21 pm »
Quick Question About Keyhotee:
You said one of the factors of increasing your reputation is to mine blocks for your account, but can you also buy these mined blocks for your account?

107
General Discussion / Re: Momentum 2.0 Discussion
« on: November 22, 2013, 02:08:58 pm »
I believe in the methods bytemaster has laid out earlier, for this currency to be decentralized, so does mining. By forcing licenses this currency becomes centralized and that defeats the purpose of DAC.

108
BitShares PTS / Re: PTS Stolen ( and i've never been hacked before ).
« on: November 22, 2013, 06:02:24 am »
My malware software just blocked an outgoing process to:

IP-BLOCK   218.7.152.6 (Type: outgoing, Port: 50540, Process: protoshares-qt.exe)

It's just reacting to protoshares trying to update itself when it's trying to reach the nodes.

109
BitShares PTS / Re: "No block source available" error message
« on: November 22, 2013, 06:00:17 am »
Any word if they are going to update current nodes to accept more connections?

110


random proof of human punishes guys like this. Not so good an idea.

 :o I've only seen this picture in my dreams before

111
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I like the Idea of 6 month block maturing. Though I think 3 month would be also sufficient...
Only problem I see, this would not keep botnets from mining, but I think I may have a solution for that, though not sure if it will work.
Could we prevent botnets from running if we would implement a captcha in the client? So that every time you start mining you have to solve a captcha...I guess that would stop botnets :)
What do you think about that?

Also implementing that in to an efficient linux miner would be rather difficult  :P and time again has shown, where there's a will there's a way, especially with the ability/price of modern captcha solvers like DBC. I like Bytemaster's approach of trying to make this as simple as possible while trying to make it harder for mass miners.

112
BitShares PTS / Re: Coyote Pool 2.0 - One Day Rounds Proportional Payout
« on: November 21, 2013, 03:21:44 pm »
I think it is confirmation taking longer with new difficulty changes

113
Thanks for the Link, will be watching it  :)

114
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While some people may not like the effects of cloud mining, at least it was equal opportunity for anyone who can follow the instructions laid out in the forums.  Unfortunately there is another class of attack, the botnet.  Botnet operators steal computing power and electricity from other people so they can mine and as a result they can bring thousands of computers to mine for the network.   Botnet operators are generally looking to make a profit and therefore have little incentive to see a currency destroyed, but they still manage to make it more difficult for honest individuals to 'fairly' mine shares.  There are opportunity costs associated with running a botnet and so botnet operators generally dump the mined shares immediately. 
Still there could be botnets interested even if the reward is going to happen 6 months later.

For avoiding this, I have an idea that you can consider:
Most botnets are Windows infected machines. So release your miners only for Linux, and make sure that porting to Windows is difficult. Of course, the clients are available for Windows too, but with no mining capability. For those using Windows machines, they could install easily an Ubuntu virtual machine in their Virtual Box.
This alone should stop botnets for some time, and would reduce the number of them in the long term, but also will encourage that supporters of your project are technically knowing what they are doing, so at the end this would stop both botnets and noobs who come only for the money.

First off, I don't believe discriminating against miners who are less technologically-apt is a healthy choice to spread the idea of Bitshares. Second, your idea  would work to the extreme benefit of cloud miners as they use cheap linux boxes for mass mining. You can't protect against all the forms of mass mining but at best you can mitigate it, and that's what the idea of vesting period is attempting to do.

Lastly,

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and noobs who come only for the money.

We are investors in this currency, most people are here to see a return on their investment.

115
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The power-ball prizes would have to limited to 1% of the money supply and have a limited withdraw rate.  If you take a lump-sum payout you only get 10%, but if you payout over 24 months you can get the whole thing.

On a network like Bitcoin, it would be a $50 million dollar jackpot which would drive a lot of people to attempt to win it and thus 'hold' bitcoin and mine it.   There is obviously a chicken and the egg problem as the prizes would be small unless enough people caught on.   But with a network like BitShares, such a bounty is easily a potential. 

I agree that there is a segment of the population that demands predictability.  This segment will probably mine in pools which would eliminate most variance and is unlikely to solo-mine.   So randomness should not change things for the pool miner.

Well then I don't necessarily see the whole point in using a randomized "lottery-style" reward mechanism. Like you said, people can still join pools to the same effect as before, but so can cloud miners and botnets.

What purpose does using this lottery reward system solve in terms of evening out the mining rewards when a botnet or cloud miner still has a significant advantage in gaining just as much as they did when protoshares were released (if not more if their luck is better)?

In my opinion this mechanism will provide Bitshares with the exact opposite effect than the one you want.

Releasing these grand prizes will most likely cause frustration further in solo miners that don't pool as they'll constantly see these "powerballs" floating right towards these giant botnets, cloud miners, and over-sized pools. In this scenario I also believe people want predictability more than you think and I can easily see an incredibly oversized pool with over 50% of the hashing power popping up.

- As always, not criticizing, just voicing concerns.

116
I would like to start by saying I am completely for the 6 month set vesting time, it would allow for all the aspects you listed earlier (and reduce the ability for cloud miners and botnets) but I have a few concerns about the other ideas you had recently mentioned:

I personally do not see the reason why Bitshare needs a random vesting period? It would allow more botnet/cloud miners to recoup their losses if they mine enough and it would make it more frustrating for regular miners. Most of the miners are smarter than the average "powerball player" and are not interested in a .000001% chance for any payout. I'd MUCH MUCH MUCH rather have less randomness than absolutely needed, all these random vesting periods and block amounts would frustrate me and ultimately cause a lot less people to mine this altogether. The powerball idea also poses problems in my mind as to if a few people win the few giant coin prizes, the bulk of the coins will ultimately end up in the hands of a few people. Bitshares are your main project so I hope you won't try too many different concepts than needed that could possibly jeopardize the integrity of the project as a whole.

117
General Discussion / Re: PTS price has surpassed LTC price on BTC38
« on: November 17, 2013, 07:33:44 am »
Yea there are a lot more LTC than PTS though, and PTS have more value long-term anyways

118
BitShares PTS / Re: How many PTS do you have
« on: November 17, 2013, 07:22:42 am »
I found 2 blocks on my first ~3-4 days of mining Protoshares, but nothing in the last week or so, but ah well, I can't complain, especially with how the value is doing already :)

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