Posts made by MegaMike

The site does appear to have been sold, beginning of March, and the new owner tries to sell shares using cryptostocks.com.

Doesn’t make it any less fishy though.

The site has been registered on cryptostocks.com on February 17 and has apparently been selling shares since then. At that time the owner of the domain was still Shane Buckley from Ireland.

On March 3 the domain was transferred to a new owner (update on the domain records then)

Oddly enough, during the month of March Shane’s familiair site was still active on the domain, and, as we’ve all witnessed, Shane has tried to promote his scam site through various forums while (ab)using payment providers like coinbase and others for easy coin payment. If anything was bought through the site, those providers must have records of scam sales while the domain was under control of the new owner.

At the end of March Shane’s crappy site layout changed to the current new one, aimed at the cryptostock shares.

So… Either the new owner is still Shane but using false credentials, or the new owner figured he could continue Shane’s scam in the same manner before changing to the new site layout, or the new owner simply allowed Shane scams under the same domain. That last bit could mean the new owner is either an (unaware?!) accomplice, or he’s a new victim of Shane and potentially a very good party for joining any legal action since he has quite a bit to defend (and explain) if he’s innocent.

@Kevlar: I have _finally _send you that small donation I promised a while ago for all your efforts with this Shane crap. My apologies for the delay.

If it was sold then the buyer got scammed like the rest of us and bought a domain with a shitty reputation. But a simple search would have revealed that. Now the site is up again, same design, same offers (just for more coins), and no reply at all to scam accusations. Not on the site, not via email, not on forums where the ste is being promoted, not anywhwere. Says enough. That’s not a new owner trying to set up a respectable business but someone who knew what was going on and is still trying to go on.

Oh, layout changed today. Well, the background color then

[quote name=“Explicit” post=“56268” timestamp=“1391174697”]
Thanks MegaMike. I checked the links on Twitter. The most informative, but not really insightful, I could find was http://forum.megacoin.in/index.php?topic=2791.msg9395#msg9395, which lists various Kimoto Grawity Well configurations. In case of MegaCoin it is:
[quote]
Megacoin
Date Added: September 13, 2013 (~3.5 months in)
http://megacoin.co.nz/
EventHorizonDeviation = 1 + (0.7084 * pow((double(PastBlocksMass)/double(144)), -1.228));
BlocksTargetSpacing = 2.5 * 60; // 2.5 minutes
PastSecondsMin = TimeDaySeconds * 0.25;
PastSecondsMax = TimeDaySeconds * 7;
[/quote]

This leaves me clueless since there are no explanations of what PastBlockMass is, how it is calculated etc., what do the numbers in EventHorizonDeviation actually mean… I am not even convinced that I am looking at the real thing as it looks too simple to work as intended.

Briefly inspecting MegaCoin difficulty adjustments it can be concluded that it works OK. And so does the diff adjustment in the case of the Feathercoin, just in a bit less granular way.
http://www.coinwarz.com/difficulty-charts/megacoin-difficulty-chart
http://www.coinwarz.com/difficulty-charts/feathercoin-difficulty-chart

I don’t think that at this point â€Å"a bit less granular way” of diff adjustment is a problem. On the other hand it may become a problem, even a major one, if multi-pools become very strong and hit us with terra hashes at one moment, and leave after the difficulty rises above certain level. With a substantial drop in hash rate even solving a single block could be a major headache.

Would I vote for implementing Kimotos’ Gravity Well? I’d like to understand how it works first, and see how it fits the pessimistic scenario of rapid and high-magnitude hash-rate changes.

Maybe we should be worried about the scrypt asic dominated future, and see if we can come up with a suitable algorithm on our own (not simply implementing what others have already done), perhaps designing an algorithm that is very sensitive to increased network hash rate (so that we only waste a couple of blocks when a multi-pool hits us with terra hashes), and on the other hand reacts super quickly when multi-pool terra hashes are gone (perhaps using a failsafe if a block is not solved within a certain time frame*)
* This could provide incentive to a powerful miner to try to solve a couple of blocks (or even e single block) after the failsafe kicks in.
[/quote]

Sorry I can’t give you more information. Especially the technical details but hopefully Kimoto will release that soon. The Megacoin website is still a mess though. But I’ll keep an eye on it and let you know when and how the tech details are released.

The graphs are cool, by the way! Thanks for those.
I think if you look at one of the coins who recently added the Gravity Well, Franko, you can fairly easy see how it benefits them:
http://www.coinwarz.com/difficulty-charts/franko-difficulty-chart
The long periods of high difficulty are gone, and when a spike appears, it’s more vicious, basically meaning the time any multi pool hits will be shortened due to the fast and furious growth of the difficulty, effectively using their own massive power against them. Also more spikes, so yeah, there is a downside, but overall it certainly gives a real benefit, and that’s the way I’ve experienced it when it was implemented in Megacoin, no more mining for hours to work away somebody else’s difficulty :)

Of course you need to think for yourself what would be best suited for Feathercoin.

[edit]Forum came just online, so here the direct links (minus the tech doc):
The Newbie’s Guide to Kimoto’s Gravity Well : https://forum.megacoin.in/index.php?topic=893.0
Kimoto Gravity Well Configurations : https://forum.megacoin.in/index.php?topic=2791.0

I’m still looking into this. Hopefully I’ll know how to proceed before the weekend

Wish I could show the links with good info on the Megacoin forum, but the forum and domains are being moved from left to right and I can’t reach the site anymore.
Shortest link to where and how to find more info is via this link: https://twitter.com/aantonop/status/428269040885190657
Check Alienwalkerx’s reply for links. If they lead anywhere…

Also, this is what Kimoto posted on Bitcointalk.org:
[quote=Kimoto]
Kimoto Gravity Well difficulty algorithm this month grew from 2 to 12 coins.
Releasing a technical gravity guide shortly so all coins receive a fair chance at life
[/quote]

Well, as Megacoin follower I can say, do it. It’s a damn good improvement for the regular hashers and it ensures the network just keeps on going. Back when it was implemented in Megacoin I, as a smalltime gpu miner, noticed a huge difference. Before the Gravitiy Well, multi pools and alike would come, skyrocket difficulty, and then go away again, leaving the difficulty to be resolved by the regular hashers. That would take a while, meaning that people like me with a simple gpu would barely make a difference anymore and see very little return. Also, such high difficulty means it takes more time for the network to toss about confirmations on transactions, right?! After the implementation of Kimoto’s Gravity Well the difficulty would spike just the same as soon as multi pools come rape harvesting, but as soon as they move one, the difficulty would adjust about instantly. It made mining worth while again.

With scrypt asics around the corner, will such code make a difference? I think it will. Hugely. In general, the more asics are hashing, the more the difficulty rises. The Gravity Well won’t make that go away. But what you do have to fear are the asics that will join multi pools, and perhaps even more such pools then there are now. Okay, it may be the same as now, except that the difficulty spikes would become two or three times more powerful. How much time will it take to solve that and bring the network back to a workable level with the current amount of regular miners?! It will take hours and hours to recover while the network struggles. It might even take days to recover. While that’s not likely since Feathercoin and Megacoin have strong networks, it will have a noticeable impact nonetheless. Coins with lesser networks should be very worried. In the past I’ve seen coins struggle for weeks even. In the long run that is lethal obviously.

So, yeah…

Then what happened that changed you from a builder into… well… this demolisher? You’re not exactly promotion material anymore, quite the opposite. You’ve added to the level of distrust already surrounding cryptocurrency, not to mention you’ve robbed me personally of some interesting opportunities. Such a shame.

I’ll let Kevlar do his thing, not sure if I wasn’t clear on that, but I will honor an agreement. I just don’t believe Shane fully understands that the mess he’ll be in if he doesn’t cooperate is much much worse then the mess he is in now.

Kevlar, I appreciate your time and effort on this tremendously. Don’t hesitate to remind me to direct a donation into your wallet.

But I’ve had it. I, for one, am all for a reasonable solution, have been from the beginning, and I’ve been one of the most patient and understanding people I think, but really, the dude has even blown it with me. Very few people on this planet have that questionable honor, but he’s one of them. Getting what’s ours through court is worth a shot, I’d say. Much, much more certain then trying to get a refund without a legal pack of wolves closing in on him.

But we’ll see. I don’t believe anything of it though, from his part of course.

You know the stupidest thing?! I still think if he just went ahead with the original plan he could have actually earned admiration and some honest cash. Not right away, but he wouldn’t have to take a loss either. Enough people were willing to help out. All that was needed was honesty and commitment. Damn shame it failed this miserably.

Hooray for sanity. Emotions were running high. Understandable, but seriously coloring the atmosphere to a darker shade then needed. I was contemplating my resignation, I’d rather lose my handful of BTC then. FTClover working on fixing this somehow means a lot more then me.

He also doesn’t fit the profile of a scammer. Or he’s the most brilliant one ever.

Dragging his a*s into court might be the wrong way. If you want criminal justice (or whatever it’s called) then know that that is all about punishing bad guys, and nothing, NOTHING, will be done for the victims = money lost, whether the judge finds him quilty or not. You’ll need a different (and likely more costly) type of legal action to get him to repair the damages. Which he says he’s willing to do already, without court. Except that he’s not speaking to the people he should be speaking to (Kevlar?)

Best bet might still be to work with him and whatever he’s got. But he’s changed, or added to his story, every time he posts something. Shees, that doesn’t help in building up credibility…

[edit] Oww… the one rig he showed wasn’t even real… What a mess…

Well, I don’t have a clue anymore either.

The story: FTClover figured he can build rigs, set up a nice site, cashed in on a nice load of Bitcoins, and then…

1. He purchased hardware, but the wrong kind of cpu’s, some of those are the right kind now, and some rigs are running?
2. Then lost his phone with the remainder of the Bitcoins on it, so no way of getting the rest of the needed hardware and no way to refund payment?

So… Is there any hardware in place? Are there rigs running?

And, FTClover, is there ever anywhere anyplace you had a copy of the Bitcoin wallet? How did you get that wallet on your phone? Or did you create a completely new wallet for it on the phone? Is Dropbox or some other service active that might have made a backup? Which wallet program did you use? Maybe it wasn’t hosted on the phone but online somehwere? Any older wallet version or online version you might have could get you out of this mess! The only other option is find the phone.

I wonder. Whether or not Bitcoin/Litecoin/Feathercoin are legal currencies doesn’t even matter. He sold services and acknowledged those with legally binding agreements. Either he’s going to deliver what he promised, or he’s a sitting duck for the legal bloodhounds. His choice: deliver the contracts asap, refund the coins, or be sued for the total projected value of the contracts he agreed to, but failed to deliver. The projected value of what he owes me is $16,000. All together it’s more then $100,000, I think. Ouch…

Well, I’m not surprised. It also fully explains your offer to take over what FTClover has got. Even at a marginal profit level it would give you a head start. Good for building up a clientele and good for getting routine and momentum all the way up to the arrival of the Vipers.

[quote name=“svennand” post=“54286” timestamp=“1390480881”]
*Regarding WIFI, have you considered Lan over Power solution? i use this in my rig room without any issues. this however needs to be tested in regards to the hotspot and the outlet being on the same power grid or close enough.
*Have you checked what kind of power you have at your dispersal in that storage facility?, you would need alot to power those rigs. I use about 40 Amp for my 23Cards…

[/quote]Lan over Power… Not sure. the location wasn’t secure I think? So any network over power would go over the neighbours line as well?! Wifi was a bad choice anyway, especially for projects like this. Cabled network is much much more reliable and much much more secure.

An yes, out of all of the reasons why this project could fail, my number 1 reason was: total power usage.

FTClover, as people have said, the lack of succes (at this moment) is not nearly as much of an issue as the lack of communication. Of course you’re angry and disappointed and who knows what else. I hope you got some sleep at least. I’ve been in your shoes quite a lot, with nothing but crap on my hands and angry people demanding solutions, and learned one thing: talk, frequently. Honestly, it helps both parties in keeping a sane attitude.

Did you consider the help offered here? Wish I could help, I can get this thing up and running, but it’s a heck of drive to get over there ;)

Otherwise, yeah, refund. Disappointing though to see the only decent scrypt mining service in existence (well, almost then) go down like this. But refund means you’ll have this huge pile of hardware that you can’t return. Don’t know about you, but I cannot afford such a load of hardware.

Without any further evidence it’s kinda hard to really get a good judgement on the situation. For all I care Shane is having the shivers due to issues with the processors and the wifi. The lack of communication is bad though.

6.4 BTC, for one 2Mh/s 12 month contract and two 2Mh/s 6 month contracts, all batch 1. Should be running now ;)

Not much to say here. Need to post here first, so hi :)