Bitcoingold Hash attacks


#1

We know bitcoingold is improving and building ecosystem. It is slowly going but hope so will improve.

The problem we all are facing is delay blocktime time and hashattacks on network to damage a lot. And it is not good for network, miners , markets and community.
As we see the statistics Almost 50% blocks are stolen than sold in market to crash its prices
HASH%20attack

And we see huge sell walls and high inflation to fell the prices to bottom. If We calculate 144 blocks are mined daily(24 hours) with an average of 10 minute timeframe.
144 Blocks = 1800btg
but this not happening almost 50% blocks are stolen with hashattacks and 900 btg are mined extra
So 1800+900= 2700 btg daily.
It should not be above than 1800btg and all people are calculating inflation with rate of 1800 btg. It is not the mechanism that the coin is following right now. Kindly address the issue in upgrade.

Extra BTG thrown in market to rise high sell walls and crash the prices.

I will suggest if their is development issue or to much work. Kindly hire 1 to 2 developers for two months.
Think so Coinbase will allow fork withdrawals in 2 to 3 months and more coin will be in market. So kindly create some hype or marketing for btg. To sustain the market position.


#2

You spread FUD and claims without a single proof, and at the end you ask the devs to create hype.

I have to say, not a single statement in this topic is true and makes sense. It is all happening in your very creative mind. I won’t comment further this nonsense.


#3

Thanks at least accepted
Proof:
The stats and chart are shown above. And you know and understand much better than me


#4

That’s the problem, you show a graph, but it’s so small, i can’t say if i am looking at BARCODE or a chart graph. You do not give your data vectors or explanation how you built your chart. For me, it’s done small on purpose.


#5

I see you’re copying @zawy’s charts, but not fully understanding them. (Also, you should credit your sources - he deserves credit for his hard work.)

In the research terminology, a “hash attack” was originally an influx of hashpower done with malicious intent. The modern phenomenon is similar, but in the GPU-mining space, isn’t actually malicious (done to damage the coin or steal value); it’s just done in an effort to be competitive. It’s an effect of people using automated systems to mine whichever coin is more profitable at the time. This way, when the difficulty for a particular coin is low, their systems automatically jump in and mine more coin.

When many people do this at once because of automation, it resembles a “hash attack.” In the research and the code, the defenses are the same - it doesn’t matter why more power comes in suddenly, you just have to find the best way to deal with it.

When this data says 50% “stolen” it does NOT mean 50% of all blocks. It means that during that brief period of high hashpower (the magenta/purple sections), there were more blocks produced than we wanted. (We wanted the amount that make for one block every ten minutes.) This impact is much, much smaller than 50% of all blocks.

Speculation based on false assumptions.

End of March 31, block height: 521227
End of Apr 7, block height: 522348
That’s ( 522348 - 521227 ) = 1121 blocks mined over seven days.
That’s ( 1121 / 7 ) = 160 blocks per day.
That’s (160 * 12.5) = 2000 BTG per day - nowhere near 2700!

The excess was 200 BTG, not 900 BTG… and of those 200 BTG, most of them did not go to the hash attackers. During that excess mining period, everyone who was mining got excess coins.

So, not anywhere near as bad as you say - but still, not perfect. People like h4x and Zawy and others will continue to work to make it better. Remember, our testnet v4 already includes an improved Difficulty Adjustment Algorithm, because work has already been done to make it better, and work will continue.

That said, this problem will never go away entirely; so long as there are at least two coins mineable on a GPU, there will be some miners jumpting back and forth based on profitability. It’s not only natural - it’s also a necessary dynamic to attract more miners when necessary by becoming economically attractive to miners. When things flow smoothly, it’s the balancing effect. When they move too fast, it turns into an “attack.” It cna never go away, it’s a matter of minimizing the negative impact.

This assumption is incorrect. These mined coins are no more or less likely to be sold on the market than any other mined coins. Some miners mine to HODL, others mine to sell. The same is true of miners who use these auto-changing pools to try to get the most coins from their mining.

Sell walls do not crash prices, but I don’t think this is the right thread to go into market dynamics.


#6

No, I will never hype BTG.

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I will be honest and build trust over time.

I’m not looking to create a short pump so that someone can dump. I’m looking to build the long-term value for all the holders and users of this crypto, and others.

Always remember: the value of BTG will grow when more people adopt it - cryptos still reach less than 1% of the population. When more people use it, and more merchants, and more people from the traditional financial world, the value of it will be vastly higher than it is today.

And what slows down the adoption of crypto in the traditional world, among normal people?

Extreme variability in price looks like pump-and-dump scams. Lots of hype means no real value.

The sooner the crypto world gets away from these sorts of ideas, the quicker we’ll get more mainstream adoption.


#7

Thanks for the explanation

I agree with you But when the new difficulty will be upgraded in fork.
Excess amount of btg 200 in 7days
In 1 week = 200 btg extra. In month 800 BTG extra produced/solved. But it need to be minimized to maximum level
It is a big gap. I understand it cant be completely zero as miner switches to another coin for more profitability.
Network hashrate fluctuates always. But the big amount of negative impact can be solved.

Will new difficulty algorithm In 2 months will be implemented with the upgrade of network(POW)?
Think so Coinbase will allow fork withdrawals in 2 to 3 months and more coin will be in market. As many people sell coins for instance 60% out of 100% sell the coin.
It will give the huge impact on market.

We need to promote (marketing) BTG like bitcoincash. Not hype
https://ads.twitter.com/onboarding/18ce54p6ehj/welcome

Bithumb is using this and youtube Ads to promote its exchange. Already Seen many ads of it.
We also need to use its services and tools
As many people will become aware of btg and like the concept of 1cpu=1vote and love to do Gpu mining.


#8

Our upcoming upgrade will include an improvement in the DAA if there is one ready to use which we can be sure is safe and ready for production, and which we can be confident will lead to improvement.

Our devs and outside researchers like Zawy has been working to make these improvements since long before this post; it has always been an important issue and a priority for development.

Perhaps it can only be one or the other - it can be “like bitcoincash” or it can be “not hype.”


#9

Thanks

We are waiting for this how we can buy?


#10

What was your goal with that tweet? To put “hash attacks” into lightningasic’s twitter following?


#11

Unfortunately, I was never able to come up with short wording that conveyed what “stolen” means in the charts. It means the blocks were obtained at less than 1/2 the “difficulty price” that would have been correct for the amount of hash power the network was using. When they leave, the dedicated miners have to pay the price.


#12

It’s a tough one to understand, and it’s even tougher to encapsulate in a short phrase. I find it best to just refer to “excess blocks mined” during the “attack,” and not try to be too specific about the metric.

It’s important to to limit it to the attack, however - otherwise the casual or uninformed reader assumes the problem is vastly worse than it is.

That said, I think it would be good if you added a glossary to your pages with basic definitions like this… and a list defining LWMA, EMA, etc. My assumptions of what they meant turned out to be (usually) correct, but for some, I could make no guesses… it would be better if we didn’t need to assume or go looking through many linked docs in hopes of finding a mention.


#13

Their was not my mine wrong intention. I thought no one will going to reply me in this matter. So also posted their.
I deleted that post.
By the i was the one who contacted 20+ exchanges to add btg
Hope so cointiger will add it


#14

Good; thanks.

It’s important that everyone keep telling the exchanges that they want to have BTG listed for trading.

Exchanges don’t list coins because the coin’s developers ask for it… they list coins because their customers want to use them. They need to keep hearing from their customers.