Quote from: Stan on January 22, 2014, 02:56:44 am

Quote from: Secabre on January 22, 2014, 01:52:43 am

Hello.

I was wondering, what will Protoshares do now their claims seem so be a lie?

Quote

Over the last few months there has been a lot of talk about Protoshares. Protoshares is a CPU-mined coin, which uses a new Proof-Of-Work (POW) algorithm called Momentum , designed to resist GPU and ASIC implementation.

http://protoshares.com/mining.html

So, "What's backing your coin?"

BitShares PTS, unlike most other coins, is backed by something that is actually tangible - rights to shares in a whole family of crypto equities that are themselves designed to be highly profitable businesses.

Further, lessons learned in the momentum algorithm have led to the rapid evolution of technologies that don't require mining to secure the network.  Eliminating the costs of mining doubled the dividends that could be offered and increased the amount of equity in profitable new businesses that could be made available to PTS holders by a factor of five.

Further, the wildly successful AGS funding engine, raising $50,000 or more donations for the industry per day, has greatly accelerating the development, support and promotion of the ecosystem and is accelerating the launch of many new DACs for PTS holders to own. 

We are now able to sponsor a BitShares Developers Conference in Las Vegas on July 12-14 dedicated to spreading this technology to many more developers - further accelerating the growth of the ecosystem.

The value proposition of PTS is now easily an order of magnitude greater than the day it was launched little more than 10 weeks ago. 

Indeed you ask a great question:  "What's backing your coin?   

A very informative reply. I struggle with any of this being really "tangible."

I got into PTS because of the CPU-only algorithm. I'm still going along, but more tentatively. Of course, my total investment could barely buy a decent steak dinner for two, so what do I know?

Protoshares are no longer "CPU-only". It may be an idea to have a read of these forums before you invest any further CPU time into it, as there has been an eruption of GPU miners in the past month and they can mine much faster than CPUs.

so, stating the brutal truth, whats left to do, other than to abandon pts and move on? If the other pools shut down and drive ypools miningshare to 100%, maybe they let go if there is no more value in pts for them...

I don't think the other pools are going to shutdown just to give in to ypool and hope they loose interest... That's the equivalent to letting the school bully beat the shit out of you because you hope he'll get bored and stop soon..

I don't think any of the pools have that defeatist mentality, not quite But an alternative - there is none not really. ypool should have closed its doors like BTC and LTC pools do when they neared 51% but they didn't, they carried on. We can only encourage miners to opt for the other pools - provide lower incentives such as lower tax rates and - I can't believe I'm saying it - limit optimized miners to the pools their developers support.

modified version 0.3 with less donates (20% -> 5%) and only one donation pool - http://www.multiupload.nl/QQQ4NFRNPL
modified binary: PtsGPUz0.3_lessdonate.exe is protected against analyze

If anyone was suspicious of the original binary from a recognized, long time forum user - I'd encourage you all to be suspicious of this one from a 30-minute old user, their only two posts being links to the binary...

Just sayin.

I mined this pool for more than 2 months, damn no regret!

Get this man a drink!

This hack (which I'll offer more detail here on how to do) works for many different miners that are "locked" to one pool:

https://bitsharestalk.org/index.php?topic=1921.msg22358#msg22358

My instructions here assume you're running Windows (maybe Windows 7). If you're on another platform, you'll have to look up how to modify the hosts file for your platform and/or otherwise redirect inbound/outbound traffic from a particular IP address.

First, shut down your miner (if it's running). Then navigate to:

Code: [Select]

C:\Windows\System32\drivers\etc
--and double-click the file which is named "hosts." Windows will probably ask you what you want to open the file with; choose any plain text editor.

Then edit that file so that the operating system's networking redirects all traffic related to one address to another address. For example, if the miner is hard-coded to mine at 148.251.6.201 (I think that's beeeeer.org), you can add this line to the hosts file:

Code: [Select]

148.251.6.201 mmcpool.1gh.com
--and then save the hosts file. Then start up your miner again. Voila! Your miner mines somewhere else.

Nice one - that's a great little workaround.

cannot use more than 5 cards

I'm impressed you have the capacity to use 5 cards!

Wow.... just wow.....

@OP, I dont mind 5% or so, maybe even 10%, but 20% is a whole lot man.

I don't see what the issue is. You're using free software - you're not paying for it - and you're complaining about a percentage going back to the author that has taken their time, resources and expertise to produce that free software for you? If you'd have paid $20 for the miner and then without any prior knowledge you're getting 20% of your mining yield donated back to the miner then yes, I can see grounds for complaint... But when the software is free, with it being common knowledge that the open source and binary miners take a donation and it's expressively stated by the authors in README files..

I just think that the developers deserve their donation - whatever the %. If you don't like the % they do take then opt for an open source rather than a closed source miner and patch out the donation if you're really that hard up. Or maybe even build your own miner? If you don't know how to do that, then you're going to have to use the solutions kindly provided by the people who do know how, with all the caveats those bring.. Closed source binary, donationware, low performance - whatever. The developer didn't have to release his code. He could have kept it tucked away for him and his friends. Imagine if dga never released his code - no GPU miners would be available several GPU miners we see now would not be available!

With regard to closed source binaries I think you should be cautious about using anything where you a) can't see the source code yourself and b) have a method of confirming that source code is for that binary. Malicious software in cryptocurrency is all over the place and you have no idea how a binary works. Whether it spawns dedicated "developer" threads or not you have no way of knowing and you really have no grounds to complain there either because again - you haven't paid for it.. I do agree that developers should be as transparent as possible when releasing binaries but that is up to them - it's their software, you haven't paid for it - you have no right to it - so you're at the mercy of the developer whatever the caveats in that binary.

Thanks man. Will check it out once I am done with the 1 PTS I need on ypool.

yeah that 1PTS payout sucks..