Bitcoin Mining Pool

The Hempcoin: Plant the Seed of Change

Plant the Seed of Change

On the nature of 51% attacks and pronged cutlery

Sorry everyone, this one’s going to be very serious again, and I'm going to start with administrivia. First of all, a few people have mistake me for lead developer recently; I'm not, I'm just the one that’s more vocal and therefore gets attention. langer_hans is lead developer, and has been working on the coin much longer than I have.
Quick reminders of a couple of things; for new shibes getting started with the main client, you can download a blockchain bootstrap file which helps you get going faster. So Chain is hosting instructions, and copies of the bootstrap.dat are hosted by themselves and Moolah (see links on that page). We've also seen a few people asking about the 1.7 release; yes it’s out, no you don’t have to upgrade, but it does seem a lot faster to us, so we would encourage upgrading. Also there is a mailing list for announcements of upcoming client releases at which I would recommend subscribing to.
So, yesterday lleti asked about an idea to see if there was community support for it. A developer asking does not mean something is going to be done. Even if it was done, it does not mean you have to follow (I’ll talk about that in a moment). Feedback to date has been overwhelmingly negative, though, so consider the idea abandoned.
A few people asked have why the idea was suggested; the intent would be to remove sharp shocks from the mining schedule, and spread it over a longer period of time in order to give adoption of Dogecoin a chance to catch up. One thing I'm not sure was clear was that there was consideration of changing block time to reduce the resulting inflation. As said, we’re not seeing community support for it.
Talking of adoption; /dogecoin has just ticked over 87,000 subscribers. Some Dogecoin users don’t read the subreddit, some subreddit readers don’t use the coin, but lets use that as an estimate for user base. That’s huge for a coin that’s 6 months old, and tiny in terms of an Internet service. And it’s worth remembering Bitcoin is 5 years old, Litecoin 2 years. Peercoin, almost 2 years. That’s the coins we’re in the midst of right now. The developers are cautious of making big technical changes because we want to stabilise the coin so the more cautious companies can know the coin is rock solid, and encourage them to get involved.
So, everyone’s been all about the price this week, and while I hate talking price with you guys, I need to as background on a lot of other stuff. So, the DOGE/BTC price is down, yes. DOGE/USD also a bit, but much less. DOGE/DOGE still solid, though. We’re Dogecoin, though, the price shouldn't matter… well, agreed, but it’s worrying people, and in particular there’s a lot of people worrying the price drops will lead to a 51% attack. So lets talk about 51% attacks, and lets also talk forks.
A 51% attack is where someone gains control of over 50% of the hashrate of the network, and maliciously uses that hashrate to make their own private blockchain which grows faster than the default blockchain. The malicious part is really important here; it’s an attack, not something that happens accidentally. In doing this, they can spend money on the current blockchain, then release their private blockchain. The network sees the longer blockchain and moves to it as part of the fork handling code (note the fork, it’s important). This effectively reverses the spending of Dogecoin that they’ve done.
Note that this is only really an attack on exchanges, as the attacker has to get their Dogecoin into another form (i.e. Bitcoin) before the transaction reverses, or the whole thing has no effect. So far, no exchange has communicated any serious concern about a 51% attack on Dogecoin to myself, and I am unaware of them having done so to any other developer.
The concern over price is raised because as Dogecoin rewards per block diminish over time (which they continue to do for the next 6 months or so), the payments to miners become less valuable (in USD/BTC terms) unless the price goes up. Many of our miners are here to support the coin (with thanks to /DogecoinDefenseForce), but some are just here for the money, and people worry that losing them will make it easy to 51% attack the coin.
So how does one a get enough mining power to 51% attack a coin? I mean, our hashrate is in the 40-50GH/s range, how do you get 51% of that (or more, if it’s a group not currently mining us)? Well, a hacked mining pool is the main scenario that worries people; it’s considered unlikely any mining pool would decide to attack their own funding source (and the big pools are making big money through entirely legal means). When Bitcoin had the same problem back in January, there was a major push to adopt what is called p2pool, which is a distributed alternative to conventional mining pools. There’s been a few issues with p2pool and Dogecoin which is part of why it’s not more widely used, but I’d really like to see more people looking at it, and talk to the developers about what (if anything) it needs for wider adoption. Ideally I’d like to get all new miners picking up p2pool, so if anyone wants to help with tutorials that would be awesome.
A number of other ideas (apart from p2pool adoption) have been proposed; change proof of work, change to proof of stake now, change to proof of stake later, merged mining, multi-protocol mining… all of these have something in common, they require that we fork the coin.
Now, a deliberate planned and controlled fork is quite different to a 51% attack fork, but that does not mean that it’s risk free. One scenario would be a disagreement with the developers over path the coin is taking (as we’re seeing with the tapering suggestion), and the community not updating, leaving the developers on their own very small fork.
Other scenarios could include significant numbers of exchanges stuck on the wrong “prong” of the fork for an extended period of time. We've had at least one exchange get “stuck” for days or weeks on every fork so far, causing significant confusion and distress to those trying to send coins to or receive coins from the exchange. Same for merchants, who might report not receiving coins if they or the sender are on different forks.
Although unlikely, it’s also possible that the fork would introduce a serious bug. There are a number of coins which have been PoW at launch and intended to move to PoS shortly afterwards, and failed to actually switch. Certainly any such change is not without its risks.
Lastly, on a personal note, I'm going to be focusing primarily on co-ordination and communication from here on in, rather than working on the code base directly. I’d like to give a shout-out to our many other developers, there are far too many people now involved to name them all, but langer_hans as lead developer, leofidus-ger, patricklodder have all worked extensively on the 1.7 client. Go give them a hug! If any of the community want to get involved with development, please do swing by #dogecoin-dev on IRC Freenode and we can help get you started.
submitted by rnicoll to dogecoin [link] [comments]

Flux: Revisiting Near Blocks for Proof-of-Work Blockchains

Cryptology ePrint Archive: Report 2018/415
Date: 2018-05-29
Author(s): Alexei Zamyatin∗, Nicholas Stifter, Philipp Schindler, Edgar Weippl, William J. Knottenbelt∗

Link to Paper

The term near or weak blocks describes Bitcoin blocks whose PoW does not meet the required target difficulty to be considered valid under the regular consensus rules of the protocol. Near blocks are generally associated with protocol improvement proposals striving towards shorter transaction confirmation times. Existing proposals assume miners will act rationally based solely on intrinsic incentives arising from the adoption of these changes, such as earlier detection of blockchain forks.
In this paper we present Flux, a protocol extension for proof-of-work blockchains that leverages on near blocks, a new block reward distribution mechanism, and an improved branch selection policy to incentivize honest participation of miners. Our protocol reduces mining variance, improves the responsiveness of the underlying blockchain in terms of transaction processing, and can be deployed without conflicting modifications to the underlying base protocol as a velvet fork. We perform an initial analysis of selfish mining which suggests Flux not only provides security guarantees similar to pure Nakamoto consensus, but potentially renders selfish mining strategies less profitable.

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submitted by dj-gutz to myrXiv [link] [comments]

Help with P2Pool Setup

Hi all,
I've been toiling for the last day or so trying to get P2Pool up and running with no success. I've been following the standard YouTube Tutorial that everyone follows but when I run Start P2pool I get the following:
Error while checking Bitcoin connection: Traceback (most recent call last): File "twisted\internet\defer.pyc", line 653, in _runCallbacks
File "twisted\internet\defer.pyc", line 1357, in gotResult
File "twisted\internet\defer.pyc", line 1299, in _inlineCallbacks
File "twisted\python\failure.pyc", line 393, in throwExceptionIntoGenerator
--- --- File "p2pool\util\deferral.pyc", line 41, in f
File "twisted\internet\defer.pyc", line 1299, in _inlineCallbacks
File "twisted\python\failure.pyc", line 393, in throwExceptionIntoGenerator
File "p2pool\bitcoin\helper.pyc", line 13, in check
File "twisted\internet\defer.pyc", line 1299, in _inlineCallbacks
File "twisted\python\failure.pyc", line 393, in throwExceptionIntoGenerator
File "p2pool\bitcoin\networks\vertcoin.pyc", line 15, in
File "twisted\internet\defer.pyc", line 1299, in _inlineCallbacks
File "twisted\python\failure.pyc", line 393, in throwExceptionIntoGenerator
File "p2pool\util\jsonrpc.pyc", line 126, in _http_do
twisted.web.error.Error: 401 Unauthorized
I've installed all the dependencies and followed all the instructions but I'm unsure what I need to do now. Any help would be appreciated, thanks.
submitted by KingslyLear to VertcoinMining [link] [comments]

I’m so frustrated!!! I’ve been trying to set up a node for days and every time I think I have it, I run into another problem.

I’ve gotten 501 forbidden error, connection actively rejected by host and I thought my port forwarding was screwed up but it wasn’t. I really need some directions. I’ve tried every guide an tutorial I could find but none have any explanation of the errors I’m seeing
EDIT: This is the error I'm getting now and my batch is: server=1, rpcuser=node, rpcpassword=***************, rpcport=5888, rpcallowip="my public ip", rpcallowip=
Error while checking Bitcoin connection: Traceback (most recent call last): File "twisted\internet\defer.pyc", line 653, in _runCallbacks
File "twisted\internet\defer.pyc", line 1357, in gotResult
File "twisted\internet\defer.pyc", line 1299, in _inlineCallbacks
File "twisted\python\failure.pyc", line 393, in throwExceptionIntoGenerator
--- ---
File "p2pool\util\deferral.pyc", line 41, in f
File "twisted\internet\defer.pyc", line 1299, in _inlineCallbacks
File "twisted\python\failure.pyc", line 393, in throwExceptionIntoGenerator
File "p2pool\bitcoin\helper.pyc", line 17, in check
File "twisted\internet\defer.pyc", line 1299, in _inlineCallbacks
File "twisted\python\failure.pyc", line 393, in throwExceptionIntoGenerator
File "p2pool\util\jsonrpc.pyc", line 126, in _http_do
twisted.web.error.Error: 401 Unauthorized
submitted by hudi2121 to VertcoinMining [link] [comments]

Having trouble setting up p2pool with vertcoin.

Hello, I followed this tutorial but I am having an issue. Whenever I use the command
sudo python --net vertcoin node mypassword
I get this error:
Error while checking Bitcoin connection: Traceback (most recent call last): Failure: twisted.internet.error.ConnectionRefusedError: Connection was refused by other side: 111: Connection refused.
Why is this happening? How do I fix it? I feel like it is an issue with my config file but honestly I am in over my head here. I would really appreciate any feedback.
Update: Went through the tutorial again and may have found the problem, but I do not know. When I run the command
git submodule init
under the directory p2pool/p2pool-vtc/lyra2re-hash-python, nothing happens like it should. I get no errors but nothing happens. Anyone know why?
submitted by narwhale111 to vertcoin [link] [comments]

SAVE BITCOIN (from / - why not just outmine them? ELI5

Ok so explain to me like I'm 5.
Ghash is the new king of Bitcoin, in crypto-anarchy the majority of (mining) power makes them the ruler. This can't be fixed. Well But OK! Why not work with that?
Everyone who complains about this: why not out-mine them by voting with your wallet? 1) Buy any mining gear big or small 2) Mine in p2pool
Simple as that?
Can we make a tutorial for totally not-technical people to do just the above, and promote it to all investors while showing them why it's in their best interest?
submitted by rafalfreeman to Bitcoin [link] [comments]

[GUIDE] How you can help decentralize the network using p2pool and rented hashing power.

Hey guys,
After seeing this 51% drama play out for the second time I've decided to start contributing to the network using P2pool. I don't own any SHA256 mining hardware aside from a 330mh block erupter, so I started looking around for hashpower for rent that wouldn't cost me too much. I settled on using Betarigs and Nicehash, services that I already use to lease X13 hashpower on my GPU rigs. I found cheap hashing power on these services that would put me close to breaking even. So far the costs have been very small and I have put an average of 2TH on a local p2pool node. It's not much but every GH counts!
I've made instructions for renting on both websites. Be warned that P2Pool has a high variance due to their low hashrate, so ideally you would want to mine for a sustained period with a lower hashrate to balance it out.
The NiceHash method:
You will need:
  1. Create an account at and add 0.01BTC on the deposit page.
  2. go to and work out the amount of coins you will earn per terahash (0.0428 at the time of writing) This is the target price for your order. (please note that orders at a higher price take priority so matching the highest order guarantees that you will get your hashrate but is more expensive)
  3. Click the orders tab at the top of the page and create an order. Select SHA256 from the algorithm dropdown menu. The price per terahash should be slightly higher than the estimate you found on BitcoinX. Check which orders are going through on the front page and try to match that price. Limit the amount of mining power to 1 terahash per second to ensure your miner is going for as long as possible (this means there is less potential for variance).
  4. Find a p2pool node that is close to you. You can use for this. Find a node that is close to you and click on the url. Check the efficiency is around 100%. If it isn't, go back and find another node. If the node does fit the criteria you can proceed to the next step.
  5. Put the node URL (minus the http:// and port) into the pool address box on Nicehash. The port (usually 9332) should be put in the port box to the right.
  6. Put your BTC address in the user field and x in the password field. Double check to verify everything is correct and place the order.
You should soon see the hashrate of the p2pool node you are connected to go up and your address show up in the stats field. If this doesn't happen within 20 minutes, either edit your order to have a higher price per TH or wait for the higher priced orders to finish.
The Betarigs method
This method is cheaper than using Nicehash as you are renting hardware rather than raw hashrate, which you pay a 'convenience fee' for. This is not as straightforward but will cost you less and give you more choice of the rig you want to rent.
You will need:
  • Some Bitcoin
  • A P2Pool node to connect to (You can use
  • A account (Sign up on their site for free)
  1. Sign up for a Betarigs account using the register link in the top right of the page and follow the steps to sign up.
  2. At the top left of the page, go to rent a rig and select SHA-256.
  3. Turn on results for all of the available rig sizes and hit search. You will see a list of rigs and their price per day, hashrate and price per TH on the right. The rigs displayed first are the cheapest per TH, placing them closer to breaking even with mining profit (while helping the network. Sweet!)
  4. Find a rig with a low price per TH that is within your price range. You can pick up an Antminer S1 for around 0.008 per 24h, often cheaper. When you've found a rig you would like to rent, click the green 'Rent Rig!' button to the right of the result.
  5. Double check that the information is correct and confirm that you would like to rent the rig. You will be taken to a page with fields for your pool, user and password.
  6. Find a p2pool node that is close to you. You can use for this. Find a node that is close to you and click on the url. Check the node's efficiency is close to or above 100%. If it isn't, go back and find another node. If the node does fit the criteria you can proceed to the next step.
  7. Put the node URL (minus the http://) into the pool address box on Nicehash. The port should go on the end of the url in this format - url:port
  8. Put your BTC address in the user field and x in the password field. Double check to verify everything is correct and click 'update the target mining pool'.
  9. Send the exact amount of BTC specified by Betarigs to the address displayed at the top of the control panel. After one confirmation, the rig will start to mine and you will be able to check your status on the p2pool node page soon!
I have around 1.5 TH (!1.2TH from NiceHash, ~300GH from Betarigs) pointed at a local p2pool node, 2-400gh of which should last for 3 days to 1 week. I decided to do this to decentralize the network rather than for profit although I do seem to be breaking even so far. P2Pool varies wildly so a lot of it is down to luck. I may add a picture tutorial if this picks up enough interest, as I aim to make this guide as noob friendly as possible. Please reply with any additions and I will add them to the OP.
Thanks for reading and keep hashing! :)
submitted by ch33s3mast3r to Bitcoin [link] [comments]

[Unofficial] Website Update‏

I've held off on post this for as long as I could, but the events of the last 24 hours have pushed me over the edge on this one.
First, a little background. As u/a432511 hinted in his earlier post, I've been pushing him pretty hard to get looking somewhere near professional. I started by expressing my concerns last Thursday in this post: If I were to write[LONG POST WARNING!]
In response to this post, I was invited to "mock something up with a little more detail and some copy", so I initially submitted some draft content for a couple of pages. Then, over the weekend I got chatting to u/sncs, and we decided to mock up an alternative version of That version can be found at . I shared this with u/a432511 on Sunday so that he could continue to pull content from it. Now I feel I need to share it here with the community to highlight quite a few issues with the official website, and what we've done to address them in our version:
Issues with official website which are remedied in our version:
Home Page: Scrolls on forever. I was always under the impression that, if you're going to use sub-pages for additional content, they should be used. I can see no good reason for the "Learn More" button to scroll visitors down the page. Our version of the home page has no content below the fold.
While we're on the subject of buttons, our version of the home page has buttons for "What is Vertcoin?" and "Stealth Addresses", both of which throw up the relevant videos in a new window (there's also a link in the SX header which does the same). I know there was an opinion expressed earlier that the "What is Vertcoin" vid is a little outdated, but I say unless/until an updated version is available, links for these two videos both belong prominently on our homepage. They should not be omitted, or tucked away on a subpage.
Get Started: Our version of this page contains the wallets and some basic do's and don'ts, which I think are a worthwhile addition to make the site more welcoming to newbies. This page could also do with a video tutorial, similar (though less long-winded) to this one:
Why Vertcoin?: This page simply doesn't exist on the official site, but it's a fundamental question that we should be addressing for any visitors that are new to this coin (or crypto in general).
Use Vertcoin: This page doesn't yet exist on the official site either. Our version has this split into separate sub-pages for Business and Individuals. The official website makes no effort to sell the utility of this coin. The fact that there's not even a merchants page yet (yes, a link to a Merchant Monday post on reddit is STILL about as good as it gets on the official site) is inexcusable.
Buy/Trade: This page was based on the original "Invest" page, with one important difference; we direct new users to a fiat>>>BTC exchange that is open to more than just US residents ( Also, I think it's important to suggest to new users that they should try to make a direct fiat to VTC purchase. Our version does this, whilst acknowledging that it may not be possible if the user lives in the wrong location.
The content of this page has been moved to "Get Started" on the official site, but it still sends new users to coinbase by default. These are global currencies we're dealing with here, so if we're going to attract Vertcoin buyers globally, coinbase is just not the most appropriate exchange to be recommending.
Mining: This is the big one. We've just had nearly 2K VTC of the marketing budget spanked on an advertising campaign to bring more miners to our website. The ad is now live on Leaving aside the argument about whether or not advertising to miners was the best use of the budget, there is a much more basic flaw to this advertising strategy. On the official site - the one that our coinwarz ad points to - THERE IS NOT A SINGLE MINING POOL listed on our site. Now don't get me wrong, I'm a huge fan of p2pool, and you'll notice the p2pool map takes pride of place on our version of this page. But to advertise to miners, and then not have a simple list of pools is again inexcusable.
Hypothetically speaking, if our version were ever to go live, there would be the following "to do" list for it (that I know of):
Content: The plain text pages on our site would need sprucing up with some images/graphics to make them more visually appealing. Please keep in mind that in the first instance this alternative site was produced to provide copy. We'd definitely want to add a video tutorial for the wallet to the "Get Started" page sooner rather than later too. Also, for the purposes of our mock up, the pool list on the mining page is just a text list. This would need to be set up to pull data for auto updates, similar to the way the list on used to work.
Mobile Version: We'd need to do some minor work to make the site work properly on mobile devices, and resolve some scaling issues on smaller screens.
Extra pages: We didn't put the Blog page on our site, or any social media. I'd maybe suggest a catch all page for this called "Communication", or something similar? Also, If I'd had more time to write content, I'd have taken a stab at writing something like
Other than that, I believe it would be relatively trivial to get our version live.
It's regrettable that I've had to write this post. Please understand that there is no agenda in doing this to undermine or mock a423511 in any way. I can see he's been trying his best. I am purely motivated to do everything I can to help make our official site as good as it possibly can be. Again, hypothetically, if he did want to use our site, we'd be happy to hand it over wholesale and leave future editing/content in his hands.
Any feedback on the alternative version of the site we created is most welcome. A special thanks to u/sncs for his hard work creating it!
submitted by depboy to vertcoin [link] [comments]

[Marketing] How we can appeal to the masses!

Hey guys, so we've obviously had an recent debacle occur in the community but the fact of the matter remains that Vertcoin is seeing faster levels of growth. We've been accepted on Mintpal, were seeing higher volumes exchanged and the community is starting to blossom. The currency itself is beginning to mature, and the recent press release I think shows that we can still do a lot to help inform people of what we are doing. What is important now is that we continue to innovate and ensure the upward trend we are currently experiencing. How can this be done? There needs to be a shift in terms of the marketing of this currency from one which is focused on developers and 'tech-savvy' people to one which understands the needs and aspirations of the general public.
Before I delve into some of my ideas, as Jay Z would say, "Allow me to reintroduce myself". I am someone who had been interested in technology from an early age and who has relatively in depth knowledge about computing and technology. I'm an economics student currently working as a designer for my University while also studying there. I'm also getting involved with a number of different non-crypto related startups. I've been active in the world of cryptocurrency from the beginning of this year but I've heard about it for a number of years, just never made the jump due to a lack of workable knowledge and technical barriers. Starting with a relatively large investment in Bitcoin, I split my portfolio into Litecoin initially, then progressing to Vertcoin soon after its inception. What drew me to this currency in particular was the clear focus from the developers on the long term sustainability of the coin. As someone who entered the arena relatively late and who may have got swept up by some unsubstantiated hype (Coinye anyone?) what I wanted was a currency which had a clear direction in terms of the future. Innovations such as the ACIS resistance and merge mining are examples of the attempts to strive for longevity.
In terms of branding I believe there is something here which potentially could be made mass marketable. From the name, to the logo and then the general styling, its clear that this is a currency that as well as leading innovation, is taking its branding seriously. That is something which is needed for widespread adoption.
You're probably wondering, then, why I am bringing the branding into question. It is not the brand in itself I see issue in, its who exactly is being marketed to. I'll give an example.
On our main website there are a number of videos which aim to help explain exactly what our currency is and why it should be used. The aim of which is to draw people to using our currency over others. What should be observed here is the target audience for these videos. In both, technical aspects are discussed as benefits to using the coin. ACIS resistance, Decentralisation, handling fees, mining etc. These are all valid points. The problem with this is the fact that, to the average consumer, you might as well be speaking gibberish. The average person does not know what mining is, what ACIS's are or what the benefits of decentralisation are. It's likely they don't understand or even care about these aspects. If you are attracting someone who has a technical background and who had already dipped their toes into the crypto waters so to speak, then they are likely to understand these benefits, which is why when ACIS starts to hurt other script coins there will be a transition of those people potentially to us. What problem do I have with this? None. It's simply a matter of whether you are looking to expand your standing within the community or appeal to a larger audience. Appeal to a larger audience and you increase your appeal within the crypto community. The key issue is that this cannot work the other way.
There need's to be a split of targeted marketing to those who have a technical background and to those who don't. This is something that is not witnessed often in this community, but there is one notable example I'm sure everyone's aware of. Dogecoin is doing incredibly well for a currency which was built atop a joke. Is there any real innovation there? Probably not technically, and yet they have been plastered across media. Why? Because they appeal to the mass market rather than a small minority of the technical elite. Just look at their intro video! It's a dog on a rocket. There isn't a single mention of any technical aspect In many ways its most likely inferior to our own and yet I've had people approach me to inform them of how to buy some. It may sound harsh, but when you market something you have to appeal to the lowest common denominator. In that sense you can then work your way up and you appeal to everyone.
So what can we do? I am not saying that we need to go down the playful route in terms of what Doge is going. In the long run how can anyone take a currency seriously thats supposed to be a joke? However what I believe needs to be done is putting a larger focus on the consumer benefits and not just the technical.
All of this can be communicated in a simple animations. I would suggest creating two videos, one to act as an advert to encourage and excite people to find out more and the other walking the user through the initial steps of downloading the wallet and the basic concepts of crypto currencies in layman terms. The latter I would suggest not hosting on youtube but directly on the website to then allow the user to click and download the wallet.
[Sidenote - Any advertising done by the community needs to be shown to be a community effort, otherwise it looks like a Ponzi scheme. This can be done with a message like (This ad was sponsored by the community on reddit) or something like that]
Imagine now that I am an average joe. I am interested in joining the community. These are some of the questions I may have and perhaps the solutions:
What can I spend my Money on? No matter how much innovation you can claim to have with your decentralised currency, this is perhaps THE MOST IMPORTANT POINT. Everything else is irrelevant if you are unable to spend your money on anything. And this is perhaps the biggest problem for crypto currencies today; People just have no idea where they can spend money. Though some of you may notice there are some stores on the sidebar, but a new user is unlikely to find this place in the first place, and it's not exactly prominent there anyway. So whats the easiest way to market places to which people can spend their hard earned vert? The wallet. Personally I think the entire interface is being underutilised. That, ladies and gentlemen, is the face of your currency. It is the first thing people will see. And what will they see? 0 vert, 0 transactions and a logo. And then there just expected to know what to do. What I would propose is to have a tab perhaps labeled 'Marketplace' which features prominent online retailers which accept vert for a number of goods. That immediately solves the problem. It shows that there are things to buy with your currency, encourages spending so it is not a purely speculative currency (which is not healthy in the long run) and displays an active community to first timers. Not only that but it could act as a source of income for the foundation as you could allow businesses to bid for a more prominent placement in this tab, which could then help with further marketing.
[As a sidenote, the wallets GUI needs to be updated anyway. How can anyone believe this is a currency for the future when it looks like something from windows 98?]
How do I Get Money? Vertcoin faucets exist. As a newcomer you're likely to be unaware of this. They are incredibly useful as it allows for someone to play around with the idea of sending virtual money around. This could be integrated directly into the wallet as so when a user signs up, they are offered the opportunity on the spot to receive free coins. What could be better than that? Then encouraging them through social media to send money to friends as a sort of referral system in which both parties then get more money. That way you can spread quickly through social links.
[Another sidenote, someone needs to work on a Twitter Vertcoin Bot. That's free promotion for the community right there. It's all fun and games here on Reddit but normal users are more likely to be on Twitter, so it makes sense to capitalize on that market]
You could also implement a similar system with the advertising and allow trusted exchanges to offer their services. One of the big problems with people coming in is that they have no idea how to get the currency in the first place, putting them off. This would solve that issue.
What If I Need Help? Which leads me to my next point; the integration of the community in the wallet itself. If I use a bank, if i need help I can call them, visit a branch and talk to a manager. With virtual currencies more often than not your left to your own devices. Cryptocurrencies are scary enough, it's even more terrifying to not have someone hold your hand through it. Why not have another tab within the wallet which links to reddit, help guides, FAQ's and stuff like that? Why not have a tutorial within the wallet which guides the user to make their first transaction? It immediately lowers the technical barriers and thus allows for further engagement.
How Do I Mine? Integration of a one click mining button into the wallet. Helps with decentralisation and could solve your P2Pool problem. It could be made incredibly user friendly, with a GUI and the ability to scroll and select through a list of P2Pools.
I think the basic premise of these ideas is that the wallet shouldn't be seen only as the thing that we use to make transactions, but instead act as the 'Bank' for individuals and HUB for services.
[EDIT] In conclusion here's a summary of my ideas:
  1. Greater focus on first time consumers rather than the crypto community
  2. Create 2 Adverts, One which focuses on advertising the brand (commercial like), and another which focuses on simple technical aspects and initial setup of wallet for the website
  3. Creation of a Twitter Tip Bot
  4. Marketplace' Tab included in the wallet
  5. Mining Tab included in the wallet
  6. Integration of Faucet to wallet
  7. Offer free vert bonuses for sharing links to Vert Promotional Material on social media
  8. Tutorial in wallet to walk through first transaction
I'll be updating this later as I have more ideas but this has taken me half a day already and I'm forgetting things. If people are interested I could potentially do mockups for my vision for the wallet, but I'll leave that for another day :)
[EDIT 2] I'll be designing mockups for the wallet next week Tuesday so keep an eye out for that! Also if anyone wants to see an example in terms of branding the sort of thing we should be aiming for, checkout ReddCoin, the branding for this coin is amazing
submitted by Nitrous94 to vertcoin [link] [comments]

[P2pool] How to make your own personal p2pool Node!

Tired of getting no block rewards and sending many dead shares? Need a p2pool node close to your miner? MAKE YOUR OWN! :D
And, Yep, P2pools give 0.5% Rewards to block finders!
Here's some info about p2ools:
The stronger the P2Pool network becomes the more resistant the digibyte network is to 51% attacks!
Oh and, P2pools are DDOS proof! Now that's News! So if your node gets DDOS'd .. you dont lose your shares as the shares have been saved in the p2pool, its called the sharechain. So you get paid anyhow! Thanks to the p2pool network. and you ccan set your workers to another pool using the "--failover only" command in cgminer (if im not wrong) and get it back to work on the p2pool network!
TL;DR; P2POOL = 1 Big fat network Decentrazlized pool!
Install Ubuntu server or Desktop if you want or u can use a VPS (VirtualPrivateServer -- Link Below with coupon code)
So Let's start off in the command line (Open Terminal.. and all you have to do is Cut, Copy Paste! ;) )
Start by updating and upgrading Ubuntu, you know you want the best ;)
sudo apt-get update sudo apt-get upgrade sudo apt-get install python-software-properties sudo add-apt-repository ppa:bitcoin/bitcoin sudo apt-get update 
Time for the DigiByteProject dependencies!
sudo apt-get install build-essential libboost-all-dev libcurl4-openssl-dev libdb5.1-dev libdb5.1++-dev git qt-sdk libminiupnpc-dev sudo apt-get install qrencode libqrencode-dev 
And, Now to compile DigiByte on your system!
git clone git:// digibyte #renaming makes it easier ;) cd ~/digibyte/src mkdir obj make -f makefile.unix USE_UPNP=- sudo cp digibyted /usbin cd ~ 
After it has compiled try running 'digibyted'
If you get an error saying you need to make the digibyte.conf file, good! :) If it doesnt give you that error, make sure you followed the compiling steps appropriately.
So, Lets create the conf file here...
cd .digibyte #edited from 'digibyted' .. fixed!! nano digibyte.conf 
Paste the following, CHANGING THE USERNAME AND PASS!! make sure to take note of both, you'll need these later!
rpcuser=CHANGEusername rpcpassword=ChangePassword daemon=1 server=1 rpcport=14022 port=12024 gen=1 rpcallowip= addnode= addnode= addnode= addnode= addnode= addnode= addnode= addnode= addnode= addnode= addnode= 
Press 'CTRL' + ' X', and then 'Y' to save when prompted
cd ~ ./digibyte/src/digibyted ./digibyte/src/digibyted getinfo 
Make sure you check the latest block in the block chain or on your local DigiByte Wallets. This is to see how far your p2pool node has gotten! This is gonna take quite a while so lets CONTINUE!
Let's get the p2pool software and frontend in! Install the p2pool dependencies!
sudo apt-get install python-zope.interface python-twisted python-twisted-web git clone p2pool #renaming it! cd ~/p2pool/digibyte_subsidy #Thanks to Chaeplin sudo python install 
Time to edit and customise the html code to personalise your p2pool's frontend. Feel free to change the p2pool name and if you're an advanced user, feel free to add your own frontend from git hub after removing the web-static folder. (OPTIONAL: by using rm -f -r web-static #in that directory. And then you can choose whichever frontend you want! by cloning it in the web-static folder)
Editing the current frontend html!
cd .. cd web-static nano index.html 
After personalising the page, i.e. changing the p2pool name and adding some info! Lets go back and check how far the block downloading has gotten! You can check this by typing this in the command line after going back to the root directory:
cd ~ ./digibyte/src/digibyted getinfo 
This is gonna take a while so might as well check for updates again :P
sudo apt-get update sudo apt-get upgrade 
After making sure that all the blocks have been synced locally! We're ready to run the p2pool node! Simply enter the string below in the command line, entering your USERNAME and PASS that you saved earlier!
screen -d -m -S myp2pool ~/p2pool/ --give-author 0 --net digibyte NEWUSER NEWPASS --outgoing-conns 4 
If you want to charge a fee for your node add this to your string, adding your fee address!:
--fee 1.0 --address NEWDGBADDRESS 
To see if the node is up and running enter this in the command line:
screen -x myp2pool 
'CTRL' + 'A' + 'D' to close the terminal if you press 'CTRL' + 'C', it will terminate the p2pool program and you'll have to restart the pool by using the string above!
Once, Everything is setup as planned! Check your p2pool node's ip Address by entering this into the command line:
inet addr: #You'll see a line like this.
So, Your cgminer string should look something like this:
cgminer --scrypt -o -u DGBADDRESS -p x
And your p2pool WEB ADDRESS should look like this:
You can monitor your p2pool using that web address! Enjoy, your personal p2pool node!! :D
If for whatever reason the server shuts off and you need to restart the p2pool node, you should run digibyted again and after it has synced successfully, just type in your p2pool string:
screen -d -m -S myp2pool ~/p2pool/ --give-author 0 --net digibyte NEWUSER NEWPASS --outgoing-conns 4 --fee 1.0 --address NEWADDRESS
PRESS CTRL + A + D to Detach from screen
UPDATE Follow Guide below if you used this guide before DigibByte v2.0 was released (28th Feb 2014)
You must check whether you're on the right ShareChain. Make Sure the block Value says 7960!
This Tutorial was made with the help of an existing Guide: Kudos to crypto49er!
If you want to do this on a VPS:
Here's a link to a VPS hosting site:
Feel free to use my $10 ref. code -- it doesnt really make a difference, though.
Let me know if this guide helped!
submitted by StormMiner to Digibyte [link] [comments]

Bitcoin-development Digest, Vol 45, Issue 37 | Joshua | Feb 11 2015

Joshua on Feb 11 2015:
On Wed, Feb 11, 2015 at 2:25 AM, <
bitcoin-development-request at> wrote:
Send Bitcoin-development mailing list submissions to
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When replying, please edit your Subject line so it is more specific
than "Re: Contents of Bitcoin-development digest..."
Today's Topics:
  1. Re: Proposal for P2P Wireless (Bluetooth LE) transfer of
    Payment URI (Eric Voskuil)
  2. Proposal: Requiring a miner's signature in the block header
    (Hector Chu)
  3. Re: Proposal: Requiring a miner's signature in the block
    header (Natanael)
Message: 1
Date: Tue, 10 Feb 2015 09:56:39 -0800
From: Eric Voskuil <eric at>
Subject: Re: [Bitcoin-development] Proposal for P2P Wireless
 (Bluetooth LE) transfer of Payment URI 
To: M?rtin H?bo??tiak <martin.habovstiak at>
Cc: Bitcoin Dev <bitcoin-development at>, Paul Puey
 <[paul at](> 
Message-ID: <54DA4657.5080604 at>
Content-Type: text/plain; charset="utf-8"
On 02/10/2015 09:16 AM, M?rtin H?bo??tiak wrote:
I'm not sure if I was clear enough. Handshake should be used to
establish authenticated AND encrypted communication using ECDH (or
just DH, but I think it's easier to use ECDH, since required functions
are already used in Bitcoin protocol), like RedPhone does. BTW
knowledge of verification string is useless to the attacker.
Yes, I think this was clear from your description.
Yes, the customer must verify it verbally and the merchant shouldn't
send the transaction before verification. Other possibility is that in
case of differing verification strings new address is generated, so
attacker doesn't know the address. But in this case, amount is leaked
and there is quite high probability it can be found in the Blockchain.
Yes, for each handshake the payment request would need to contain a
different address, mitigating some of the privacy loss.
Anyway, I don't believe the transaction can be made securely without
such interaction except with white-listing public keys, so I see no
reason why interaction should be problematic.
It can be done securely and privately by transfer of a shared secret
through a private channel.
We don't have such strict regulations but I agree that security is
important. Currently I think that verbal verification and manual
confirmation is the best way to achieve high security and reasonable
I think for a broadcast model (e.g. Bluetooth only) that is the only
want to ensure integrity and privacy. A narrow cast can use proximity to
establish trust.
2015-02-10 17:55 GMT+01:00 Eric Voskuil <eric at>:
I like your idea for the commit protocol in that it resolves the
vandalous address substitution attack. However, I don't see a way to
prevent privacy loss without adverse impact to the scenario.
Anyone could perform the handshake and thereby obtain the payment
request. Therefore to prevent inadvertent disclosure the customer must
visually confirm the "phrase" and then verbally tell the merchant to
proceed by sending the payment request.
One might argue that it's sufficient to preserve the integrity of the
transaction while suffering the privacy loss, especially given that a
hijacked handshake should never result in a completed transaction -
unless of course the hijacker pays.
But imagine someone purchasing their meds. HIPAA requires the checkout
queue to form behind a yellow line. That speaks directly to this
On 02/06/2015 01:07 AM, M?rtin H?bo??tiak wrote:
2015-02-06 2:29 GMT+01:00 Eric Voskuil <eric at>:
On 02/05/2015 04:36 PM, Martin Habov?tiak wrote:
I believe, we are still talking about transactions of physical
people in physical world. So yes, it's proximity based - people
tell the words by mouth. :)
Notice from my original comment:
A MITM can substitute the key. If you don't have verifiable
identity associated with the public key (PKI/WoT), you need
a shared secret (such as a secret phrase).
I said this could only be accomplished using a shared secret or a
trusted public key. Exchanging a value that is derived from a pair of
public keys is a distinction without a difference. The problem remains
that the parties must have a secure/out-of-band channel for
communicating this value.
The fact that they are face-to-face establishes this channel, but that
brings us back to the original problem, as it requires manual
verification - as in visual/audible scanning of the two values for
comparison. At that point the visual comparison of the address, or
value derived from it, is simpler.
I have never been against manual verification. What I'm trying to say
is let's just make manual verification easier and more secure.
Comparison of address is simpler for the coder but also simpler to
attack. It has these problems:
  • Addresses broadcasted in plaintext (privacy issue)
  • Amounts broadcasted in plaintext (privacy issue)
  • Address is long - takes lot of time to verify (user experience issue)
  • Address prefix can be brute-forced, if too short or used to make
"black hole" address if longer (vandalism issue)
Commit protocol can be used for both the encryption and the
authentication while user experience is not bad and everything is
still secure.
In case of RedPhone, you read those words verbally over not-yet-
verified channel relying on difficulty of spoofing your voice. Also
the app remembers the public keys, so you don't need to verify
second time.
This is reasonable, but wouldn't help in the case of an ad-hoc
connection between parties who don't know each other well.
I suggest you to try RedPhone (called Signal on iPhone) yourself.
It's free/open source, Internet-based and end-to-end encrypted. You
may find it useful some day. Also I'm willing to help you with
trying it after I wake up. (~8 hours: Send me private e-mail if
you want to.)
I appreciate the offer. I really don't trust any smartphone as a
platform for secure communication/data. But encrypting on the wire
of course shrink the attack surface and increase the attacker's cost.
D?a 6. febru?ra 2015 1:22:23 CET pou??vate? Eric Voskuil
<eric at> nap?sal:
On 02/05/2015 04:04 PM, M?rtin H?bo??tiak wrote:
That's exactly what I though when seeing the RedPhone code, but
I studied the commit protocol I realized it's actually secure and
convenient way to do it. You should do that too. :)
I was analyzing the model as you described it to me. A formal
of the security model of a particular implementation, based on
from source code, is a bit beyond what I signed up for. But I'm
perfectly willing to comment on your description of the model if you
willing to indulge me.
Shortly, how it works:
The initiator of the connection sends commit message containing the
hash of his temporary public ECDH part, second party sends back
public ECDH part and then initiator sends his public ECDH part in
open. All three messages are hashed together and the first two
are used to select two words from a shared dictionary which are
displayed on the screen of both the initiator and the second party.
The parties communicate those two words and verify they match.
How do they compare words if they haven't yet established a secure
If an attacker wants to do MITM, he has a chance of choosing right
public parts 1:65536. There is no way to brute-force it, since that
would be noticed immediately. If instead of two words based on the
first two bytes, four words from BIP39 wordlist were chosen, it
provide entropy of 44 bits which I believe should be enough even
paranoid people.
How this would work in Bitcoin payment scenario: user's phone
broadcasts his name, merchant inputs amount and selects the name
the list, commit message is sent (and then the remaining two
messages), merchant spells four words he sees on the screen and
confirms transaction after verifying that words match.
So the assumption is that there exists a secure (as in
communication channel?
2015-02-06 0:46 GMT+01:00 Eric Voskuil <eric at>:
On 02/05/2015 03:36 PM, M?rtin H?bo??tiak wrote:
A BIP-70 signed payment request in the initial broadcast can
resolve the
integrity issues, but because of the public nature of the
coupled with strong public identity, the privacy compromise is
worse. Now transactions are cryptographically tainted.
This is also the problem with BIP-70 over the web. TLS and other
security precautions aside, an interloper on the communication,
datacenter, etc., can capture payment requests and strongly
transactions to identities in an automated manner. The payment
must be kept private between the parties, and that's hard to do.
What about using encryption with forward secrecy? Merchant would
generate signed request containing public ECDH part, buyer would
back transaction encrypted with ECDH and his public ECDH part. If
receiving address/amount is meant to be private, use commit
(see ZRTP/RedPhone) and short authentication phrase (which is
spoof thanks to commit protocol - see RedPhone)?
Hi Martin,
The problem is that you need to verify the ownership of the public
A MITM can substitute the key. If you don't have verifiable
associated with the public key (PKI/WoT), you need a shared secret
as a secret phrase). But the problem is then establishing that
over a public channel.
You can bootstrap a private session over the untrusted network
trusted public key (PKI/WoT). But the presumption is that you are
already doing this over the web (using TLS). That process is
attack at the CA. WoT is not subject to a CA attack, because it's
decentralized. But it's also not sufficiently deployed for some
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Message: 2
Date: Wed, 11 Feb 2015 08:54:15 +0000
From: Hector Chu <hectorchu at>
Subject: [Bitcoin-development] Proposal: Requiring a miner's signature
 in the block header 
To: bitcoin-development at
CAAO2FKEFxC_byt4xVJb0S-7yy0M7M-Av7MHUH-RBDuri_GAFtw at>
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A proposal for stemming the tide of mining centralisation -- Requiring a
miner's signature in the block header (the whole of which is hashed), and
paying out coinbase to the miner's public key.
Please comment on whether this idea is feasible, has been thought of
etc., etc. Thank you.
Mining is centralising to a handful of pool operators. This is bad for a
number of political reasons, which we won't go into right now. But I have
always believed that some years down the line, they could hold the users
hostage and change the rules to suit themselves. For instance by
the halving of the block reward.
Currently the block header is formed by the pool operator and distributed
hashing by the pooled miners. It is possible to divide the work among the
miners as the only thing that is used to search the hash space is by
a nonce or two.
I propose that we require each miner to sign the block header prior to
hashing. The signature will be included in the data that is hashed.
the coinbase for the block must only pay out to the public key counterpart
the private key used to sign the block header.
A valid block will therefore have a signature in the block header that is
verified by the public key being paid by the coinbase transaction.
Work can no longer be divided among the pooled miners as before, without
sharing the pool's private key amongst all of them. If the pool does try to
take this route, then any of the miners may redeem the coinbase when it
matures. Therefore, all miners will use their own key pair.
This will make it difficult to form a cooperating pool of miners who may
trust each other, as the block rewards will be controlled by disparate
and not by the pool operator. Only a tight clique of trusted miners would
able to form their own private pool in such an environment.
Pooled hashpower, instead of earning bitcoins legitimately may try to break
the system instead. They may try a double-spending attack, but in order to
leverage the pool to its full potential the pool operator would again have
share their private key with the whole pool. Due to the increased
and coordination required for an attack, the probability of a 51% attack is
much reduced.
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Date: Wed, 11 Feb 2015 10:25:27 +0100
From: Natanael <natanael.l at>
Subject: Re: [Bitcoin-development] Proposal: Requiring a miner's
 signature in the block header 
To: Hector Chu <hectorchu at>
Cc: bitcoin-development at
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Den 11 feb 2015 09:55 skrev "Hector Chu" <hectorchu at>:
A proposal for stemming the tide of mining centralisation -- Requiring a
miner's signature in the block header (the whole of which is hashed), and
paying out coinbase to the miner's public key.
Please comment on whether this idea is feasible, has been thought of
etc., etc. Thank you.
Mining is centralising to a handful of pool operators. This is bad for a
number of political reasons, which we won't go into right now. But I have
always believed that some years down the line, they could hold the users
hostage and change the rules to suit themselves. For instance by
the halving of the block reward.
I propose that we require each miner to sign the block header prior to
hashing. The signature will be included in the data that is hashed.
the coinbase for the block must only pay out to the public key
counterpart of
the private key used to sign the block header.
This will make it difficult to form a cooperating pool of miners who may
trust each other, as the block rewards will be controlled by disparate
and not by the pool operator. Only a tight clique of trusted miners would
able to form their own private pool in such an environment.
People already trust things like cloud mining, so your solution with
increasing technical trust requirements won't help. But you will however
break P2Pool instead.
Also, note that threshold signatures (group signatures) could probably be
used by an actual distrusting pool's miners. There are already a proof of
concept for this implemented with secp256k1 that works with Bitcoin clients
silently. This wouldn't prevent such a pool from working.
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How to Setup a Vertcoin P2Pool Node on the Second Network (Windows) P2Pool the Best mining pool  Our Holding Status  CM Daily Report: Ep 5 p2pool node setup with merged mining Video guide: How to setup a Litecoin P2Pool on your own PC platform.

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How to Setup a Vertcoin P2Pool Node on the Second Network (Windows)

How to setup p2pool jtoomim 1mb_segwit LTC node. p2pool install written by Jtoomim P2Pool is a good concept of mining cyptocurrency, which allow single miners work on their own pool, and the pools connect to others make a large minging matrix pool. PS: at this moment, official ... Bitcoin Tutorial #40 - P2Pool - Duration: 5:52. The Morpheus Tutorials 722 views. 5:52. Top 5 MIND BLOWING MAGICIAN America and Britain's Got Talent 2016 - Duration: 17:04. Viral Feed Recommended ... Bitcoin Tutorial #40 - P2Pool - Duration: 5:52. The Morpheus Tutorials 662 views. 5:52. Setting Up Bitcoin Fullnode on Raspberry Pi 2 - Bitcoin Core 0.12 - Duration: 36:08. World Crypto Network ...