Author Topic: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners  (Read 55777 times)

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Offline tonyk

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #30 on: April 02, 2016, 11:59:05 pm »
BTS holders are still paying off the merger, the intent of which was to prevent the fracturing of development effort/code/chains/community.

Yet this fork receives official blessing and assistance.

It must be April Fools.

Friendly advise. If you believe in BM's new vision (as opposed to his ex-vision i.e. BTS) you better get on board with steem...

I personally find his early ideas far better and consider him more or less lost currently, so I have no interest in this STEEM, but it is just me.

So act accordingly to your take on things in that regard.

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline ebit

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #31 on: April 03, 2016, 01:19:05 am »
I am mining
this right?
Code: [Select]
nable-stale-production)
1040032ms th_a       witness.cpp:215               block_production_loo ] Not producing block because production is disabled until we receive a recent block (see: --enable-stale-production)
1040292ms th_a       application.cpp:660           get_blockchain_synop ] synopsis: ["0004161ba5297bef65fa416e74b3490ca321e7bd"]
1041029ms th_a       witness.cpp:215               block_production_loo ] Not producing block because production is disabled until we receive a recent block (see: --enable-stale-production)
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Offline hrossik

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #32 on: April 03, 2016, 02:11:01 am »
I am mining
this right?
Code: [Select]
nable-stale-production)
1040032ms th_a       witness.cpp:215               block_production_loo ] Not producing block because production is disabled until we receive a recent block (see: --enable-stale-production)
1040292ms th_a       application.cpp:660           get_blockchain_synop ] synopsis: ["0004161ba5297bef65fa416e74b3490ca321e7bd"]
1041029ms th_a       witness.cpp:215               block_production_loo ] Not producing block because production is disabled until we receive a recent block (see: --enable-stale-production)

I don't think so...

And am I mining? It's been 6 hrs, and still nothing...
Code: [Select]
532459ms th_a       application.cpp:394           handle_transaction   ] Got 1 transactions from network
534065ms th_a       witness.cpp:352               on_applied_block     ] hash rate: 14784 hps  target: 28 queue: 98 estimated time to produce: 302.61933621933621907 minutes
537432ms th_a       witness.cpp:352               on_applied_block     ] hash rate: 14443 hps  target: 28 queue: 98 estimated time to produce: 309.76419488102658306 minutes
540266ms th_a       witness.cpp:352               on_applied_block     ] hash rate: 14916 hps  target: 28 queue: 98 estimated time to produce: 299.94128899615623141 minutes
BTS: hr0550

Offline liondani

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #33 on: April 03, 2016, 03:09:37 am »
Friendly advise. If you believe in BM's new vision (as opposed to his ex-vision i.e. BTS) you better get on board with steem...

I personally find his early ideas far better and consider him more or less lost currently, so I have no interest in this STEEM, but it is just me.

So act accordingly to your take on things in that regard.

Would brownies value reflect the potential  success (or not) of his new vision  the next days?
Would they act like a... prediction market?   8)

Offline ebit

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #34 on: April 03, 2016, 03:10:33 am »
Quote
The reasoning behind not having windows binaries is that the devs continue to use their insider knowledge to fuck over the community.

The list of how they do this is growing longer.

Most recently you will notice that they offered someone a position as a witness. How are they able to offer this position? Because they have now secured all control over this coin by using this concept of vests. This coin is COMPLETELY CENTRALIZED NOW.

Here's how they did it:

First, they did a typical instamine/flashmine/freemine scam (yes scam) where they released

(1) no compiled wallets
(2) no instructions to build
(3) incomplete and inaccurate instructions to mine

This wasn't bad enough. After the first 12 or so hours of mining, all their miners crashed, exposing that they were mining to 100 different witnesses to hide the fact that they (he) was one entity. The devs wouldn't have been caught except that their mining instructions were wrong, and no one else was mining because, even if they couldn't get the client to build, they entered mining commands that caused them to get no blocks. The devs will claim this isn't on purpose, but check the original thread. You'll see that no one mined a block when the dev's miners were down.

Then, as I have stated many times, when their miners crashed again, I mined a significant amount of steem that night in their absence. To prevent my vesting that and driving the price of vests up on them, they relaunched to ensure COMPLETE CONTROL AND CENTRALIZATION.

After the relaunch, no one would challenge them on mining because if they did, the devs would just relaunch this scamcoin again. So, no one who pays attention (and the people who have the means to procure whatever hashes they want are also the people who are paying attention), would challenge them on the hashes. As they hoped, no one did and they completely dominated the hashes for 1 week.

Now after 1 week of hashing, they dump all their coins into vests, where the price of a vest goes up with the amount vested. This is not your typical stakeholding where one unit of currency is worth one stake. This is on purpose so that they can COMPLETELY CONTROL THIS COIN IN A CENTRALIZED WAY after just 1 week.

Vests don't cost 1 STEEM anymore like they did when the devs bought them. They now cost 5 STEEM. That means that you will need to dominate all the hashes for 5 weeks just to match the control the devs have after 1 week. They have driven your costs up by 5, not using the market, as should be done, but by using this freemine/threat-of-relaunch scam.

So, why don't we all just mine for 5 weeks and decentralize control ourselves? There are two main reasons.

First, anyone who is paying attention (this includes all smart people with BTC to throw at things like this) won't dump money on a scam like this. So you are going to get a bunch of gullible small timers who don't have the foresight to convert to vests anyway, even if vests were legit. The small timers just want to get a profit asap.

Second, there's only 3 more weeks left of true mining before delegated mining kicks in. Delegated mining is when the devs pick 19 "witnesses" to mine. Maybe they might pick one or two legit miners, but the most likely scenario, given the scam they have perpetrated so far, is that they will pick at least 17 instances of themselves to mine.

In other words, it's impossible now to decentralize this coin because the devs have rigged it since the beginning. Not only that, they will be getting all the coins, unchallenged, for as small of a price as they want to pay.

By the way, I'm keeping track here. The devs are going to have to stay low and so will this coin. If it ever gets big, then these devs will be fucked because they will not be able to deny they control the entire currency.
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Offline btswildpig

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #35 on: April 03, 2016, 03:39:50 am »
BTS holders are still paying off the merger, the intent of which was to prevent the fracturing of development effort/code/chains/community.

Yet this fork receives official blessing and assistance.

It must be April Fools.

I support this fork even though I think it's sketchy .....

It's not like there is a legal contract in crypto , everybody can do whatever they want . Fixing the merger is not his task anymore . The more you realize that , the more you can drop the unreal hops about how he would fix it one day by magical wand ....And may be , you will be better off , at least you can adjust your hopes and take risk base on less hype or promise . When people want to make you a promise , ask them to write a legal contract , if they can't , don't rely on the promise .

Example : when 2.0 released , the promise was ---- All future dilution will be vested for years , removing selling pressures once and for all ....  And ....There was a lot of people actually brought that promise ...  Of course ,  there is always a reality where the promise didn't mean it and reality kicks in ----they need to eat now .  But ....why would they make that promise then ?  Why would you have believed in that promise ? 

Had you not hoped that someone will fix the merger's lost with big thing and all , you could've sold BTS at at least 4-5 times more price than what it is now .

After all , it's not like it's easy to keep promise or make good on a promise , especially when the promise was based on flames .  IF you take things too seriously , you'll believe it . Once you believe it , you can't help to invest more or resisting cutting lost base on your own financial situation or your opinion on the market .

Besides , it's not like if you dilute enough to them , it will make them stay for a long time . After all , no contract , remember ? Sooner or later there will be projects that pays more.
What , some want to dilute 100% speed to hope them stay ? Hmm ...Competition would offer money+stock+co-founder+401k+dental..... What then ?

But ....would you be pleased to know that despite its fancy new tech , STEEM would bear the name of BTS , and people won't take STEEM too serious because of what happens on BTS ......

Of course , there is also a slight chance of STEEM going to the moon . If then , don't fight it , "will not make a competition to BTS" is also not a contract . The society invented legal contract for a reason , people always want to flame the promise and do less or cut some corner of find a new way to interpret the promise ....If you don't have a legal contract , don't take to much risk to believe in a promise .


PS. It's good to see someone finally dropping the name with Bit,  Shares , Coin ....Although it would be nice if it's not the same as the gaming platform STEEM .....
« Last Edit: April 03, 2016, 03:47:04 am by btswildpig »
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline fav

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #36 on: April 03, 2016, 07:12:03 am »

We didn't announce this on BitShares earlier because we figured this community would better understand the value of what we are doing and make it
difficult execute the strategy bytemaster recently blogged about:

http://bytemaster.github.io/article/2016/03/27/How-to-Launch-a-Crypto-Currency-Legally-while-Raising-Funds/

We have secured ~80% of the initial STEEM via mining.

So the main innovation is  secretly premining in open view? It is pretty sad where "innovation" effort go in this community as of late.

Thanks, but no thanks... I have experienced a 1,5 years of constant sell pressure by whales that openly quick mined PTS, to have the desire to experience the same by people that found a way to premine, sorry "secure " 80% stake for themselves secretly in open view.


--------------------------
Q: Is there STEALTH in steem's GUI?

80% premine
Highly recommend

Nice April fool's bm&op

Offline liondani

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #37 on: April 03, 2016, 08:07:15 am »
80% premine
Highly recommend

Nice April fool's bm&op

What are they mining if it is a April fool?

Offline liondani

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #38 on: April 03, 2016, 08:22:05 am »
You have an interesting coin, but everything about this execution has been from the mind of a 12 year old.

If it's just a new way to do PoW, it's basically going to be a niche coin. I'll probably mine it for 24 hours before the botnets get ahold of it and dump right away.

Your long term money supply idea is pretty dumb. Nothing is viable at 100% inflation. Again, the mind of a 12 year old.


Your shit with the first "launch" was bad enough, and a few of us figured out how to mine it. And your bullshit with only a 1 hour lead time for the second launch meant that we couldn't clear up our schedules to be ready for launch. Bad move.

After that you had a relaunch and took all our advantage away after we put in the time to figure out that your example mining commands were wrong, etc.

I'm a solid dev and I probably could have gotten involved if I thought I'd get enough to make it worth my while. But your approach is so childish that I doubt the "community" will ever be more than you and your sockpuppets. You take a wrong turn at every move and I don't expect that to stop.

You'll never get a credible team together. You are obviously one guy who thinks you know everything, but you don't. I was impressed that you got a new PoW scheme working on the first shot, but you blew that too and your integer overflow highlights that you are just an amateur.



https://bitcointalk.org/index.php?topic=1410943.msg14305885#msg14305885

Offline liondani

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #39 on: April 03, 2016, 08:41:26 am »
https://bitcointalk.org/index.php?topic=1410943.msg14327229#msg14327229

interesting


HODL was inspired by the same blog post http://bytemaster.github.io/article/2016/01/04/The-Benefits-of-Proof-of-Work,  but we feel he didn't get the point.

FreeTrade, creator of HODL, has a bad reputation for several failed coins Memory Coin, Memory Coin II, etc.

Starting 30 days from launch, VESTS will get to vote on 19 witnesses. 1 witness will be selected by mining and 1 will be time-shared with the remaining witnesses proportional to their votes. A total of 21 per round.

After 30 days all block production and pow rewards are automatically converted to VESTS to reward miners who make long-term commitment.

The difference between this and BitShares is that the voters must be VESTING and cannot dump if they don't like how things go.  Also, unlike BitShares, there are no worker proposals nor major changes to the protocol which
should take much of the politics out of the coin. There are only two real tokens, STEEM and SBD.

Lastly, unlike BitShares, VESTS are never diluted unless over 90% of all STEEM is held as vesting.

Offline liondani

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #40 on: April 03, 2016, 09:36:34 am »
We would have preferred the premine + ICO route.  It would have been cleaner, lower risk (in terms of getting desired stake), etc.  Then we talked to lawyers and read the regulations and saw how Ripple was prosecuted.

Conclusion: premine + ICO could force us to register as MSB and cost hundreds of thousands of dollars. Furthermore, it would undermine the real use case for Steem.  ICO also carries
the risk of SEC violations.  I am not saying that a premine + ICO couldn't be done legally without becoming a MSB or violating SEC, I am merely stating that it is more challenging / risky.

Meanwhile Bitcoin, Litecoin, Dogecoin, and other mined coins appear to be accepted and explicitly accounted for in the regulations. 

When it comes to the law and regulations, how you do something is often more important than the result achieved.

So we released a coin with open code that fully documents the protocol for anyone willing to work for it and didn't mine anything before all information about the protocol was technically available to the public. In theory,
anyone could see the protocol and realize the new business opportunities it creates. There is no "insider" information when the protocol is open and anyone can build on it. 

Our only advantage is *information* about how we intend to use the platform. The irony is that there are legal risks in sharing information about what we intend to do for a
coin until after we have done it. That information could be interpreted as a promise that in turn would give the coin value derived from our future actions.  So we didn't promise anything, but we still
know what our plans are. End result, we valued the coin higher than anyone else.  We purchased it with our own miners. Speculators willing to take a risk competed with us even though they didn't
know exactly what we planned to do with the coin.

We also have learned from past experiences like ProtoShares that was used to launch BitShares. Invictus had intended to mine it and make money on the appreciation after BitShares
actually came out, but instead GPU miners and faster mining algorithms were developed within a week of launch. That left the BitShares team struggling for a solution. It is reasonable to
expect that anyone with a profiler and some programming skills could come up with a faster, more efficient, implementation of mining that we did. Higher performance could have been achieved
with just a hour of effort by a competent programmer. 

So, if you are OK with the concept of premine + ICO, and if you value having a development team funded by capital appreciation, and if you value having a team do the best it
can to insulate itself for burdensome regulations, then you can appreciate what was done with STEEM.  If you don't like 'games' then blame the government for their rules, don't blame the people who play by them.

   

Offline svk

Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #41 on: April 03, 2016, 10:02:28 am »
I am mining
this right?
Code: [Select]
nable-stale-production)
1040032ms th_a       witness.cpp:215               block_production_loo ] Not producing block because production is disabled until we receive a recent block (see: --enable-stale-production)
1040292ms th_a       application.cpp:660           get_blockchain_synop ] synopsis: ["0004161ba5297bef65fa416e74b3490ca321e7bd"]
1041029ms th_a       witness.cpp:215               block_production_loo ] Not producing block because production is disabled until we receive a recent block (see: --enable-stale-production)

I don't think so...

And am I mining? It's been 6 hrs, and still nothing...
Code: [Select]
532459ms th_a       application.cpp:394           handle_transaction   ] Got 1 transactions from network
534065ms th_a       witness.cpp:352               on_applied_block     ] hash rate: 14784 hps  target: 28 queue: 98 estimated time to produce: 302.61933621933621907 minutes
537432ms th_a       witness.cpp:352               on_applied_block     ] hash rate: 14443 hps  target: 28 queue: 98 estimated time to produce: 309.76419488102658306 minutes
540266ms th_a       witness.cpp:352               on_applied_block     ] hash rate: 14916 hps  target: 28 queue: 98 estimated time to produce: 299.94128899615623141 minutes

hrossik is mining, ebit is not.

You probably need to add some seed nodes [member=20]ebit[/member], you can add these to the config.ini:

Code: [Select]
seed-node = 52.37.169.52:2001
seed-node = 52.26.78.244:2001
Worker: dev.bitsharesblocks

Offline pc

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #42 on: April 03, 2016, 10:49:31 am »
There is something not working here.
I've been mining since yesterday with my quad-core at ~22khps. The client tells me it'll take 50-150 minutes to solve a POW. Indeed I sometimes see a message like "Broadcasting Proof of Work for cyrano", but that's it. No accumulating STEEM, not even POW transactions in my account history (except for one yesterday, almost immediately after I started).

Any ideas?
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Offline xeroc

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #43 on: April 03, 2016, 11:54:50 am »
There is something not working here.
I've been mining since yesterday with my quad-core at ~22khps. The client tells me it'll take 50-150 minutes to solve a POW. Indeed I sometimes see a message like "Broadcasting Proof of Work for cyrano", but that's it. No accumulating STEEM, not even POW transactions in my account history (except for one yesterday, almost immediately after I started).

Any ideas?
With pow you only mine a 'ticket' in the block production queue .. once you got a ticket mined you need to wait for your round to actually produce a few blocks .. (maybe 20 or so)
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Offline cass

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Re: [ANN] [STEEM] Introducing Steem, Looking for Witnesses / Miners
« Reply #44 on: April 03, 2016, 01:09:13 pm »
[member=25607]btswildpig[/member] : IIRC the gaming platform is called STEAM ..
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