[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[SuperSta]

http://octo.lifeforce.info

System: Prop Stratum VarDiff
Pay Interval: Every 5 Minutes (for confirmed blocks)
Fee: 0%
 

EDIT: We have found 14 blocks in the last hour.
Come join us we're free.

[OctoCoin]

Why does the everyone and especially the DEV ignore the elephant in the room?  FusionHash has almost never been under 50% of the total hash. Usually they are in the 80+ range and often well above 90% of the total hash.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

First of all, there is some confusion here on what exactly a 51% attack is. Double-spends are a concern if we're talking about a malicious pool operator but FusionHash has an impeccable reputation and maliciously abusing their position would be senseless to their long-term business plan. Also, while it may be true that at one point they had over 90% of the total hash, as you may have noticed, there was no fork/etc - there are a lot of misconceptions surrounding what exactly a 51% attack is capable of and I suggest doing additional research on the topic.

I think it's time for the DEV to disclose any relationship with fusionhash. I for one was surprised to see him/her making announcements on behalf of fusionhash throughout this thread. Is the dev also running fusionhash? What is the relationship if this is not the case? Part of the 8 unknown people behind this coin? If anyone doubts me, quickly check through this thread before the dev's posts are deleted or edited and you can see for yourself where he has been reporting on their behalf.

Our relationship to FusionHash is that we reached out to them 2 weeks before we launched OctoCoin and asked if they would be one of our launch pools. Mining pools are only a small part of their business model as they are building a large rent-a-hash operation, an exchange, coin hosting services, and more...but everybody speaks very highly of FusionHash which is why we specifically reached out to them. Also, we knew it would be great for marketing. The majority of OctoCoin miners were mining in that pool so when my inbox began to fill up with people upset about delayed payouts, I contacted the owner of FusionHash to help sort it out. I doubt they even have an account here - I wanted to make an announcement regarding an issue that was affecting a number of people mining the coin we just launched. I'm surprised anybody would have an issue with that.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

No elephants in this room. Look - people are going to mine where they want to mine. If it actually becomes an issue, we will address it...but it's nowhere near an issue. People need to educate themselves on these things and react accordingly. We are very serious about OctoCoin and if we thought any of this was a threat to its future (even short-term future) we would have addressed it by now.

More to come later...

[Goattrading]

Well put OctoCoin

Looking forward to the "More to come later..."

[frameLAlife]

Sweet action. Now for the block reward reduction

[Goattrading]

Sweet action. Now for the block reward reduction

Last Found Blocks
Block   Finder   Time                  Actual Shares
7855   FusionHash   15/03 12:52:32   17,950



It was officially at the above and FusionHash brought it to a conclusion... Good Job 

Iam expecting some news tomorrow the 16th with the ending of the SXSW event, it also being 8 days since launch and it would be nice....

[Sanasol]

now 88 

http://sancrypto.info/index/show/888/  updated

still no big exchanges for octo 

[Bittrex-Bill]

Hi,

can one of the devs contact me?  We'd like to discuss adding 888 to Bittrex.com.

Thanks,
Bill

[MagmaCoin]

Hi,

can one of the devs contact me?  We'd like to discuss adding 888 to Bittrex.com.

Thanks,
Bill

Sweet baby jesus
Bittrex is a pretty good exchange

[OctoCoin]

now 88  

http://sancrypto.info/index/show/888/  updated

still no big exchanges for octo  

Actually, the current reward averages out to 188 OctoCoins/block.

7 in 8 blocks contain 88 OctoCoins

1 in 8 blocks contain 888 OctoCoins

After this period, then the reward drops to strictly 88 OctoCoins/block.

[OctoCoin]

Hi,

can one of the devs contact me?  We'd like to discuss adding 888 to Bittrex.com.

Thanks,
Bill

Sweet baby jesus
Bittrex is a pretty good exchange

Contacted - will get the ball rolling shortly.

Also, be sure to get hourly votes in at CryptoRush and MintPal. Level 4 traders at CryptoRush can vote up to 16 times/hour and at MintPal you can vote up to 5 times/hour.

Unfortunately, most exchanges determine which coins to add based on voting now. We assumed we would have pull at Cryptsy, for example, since I am one of the largest shareholders there. Regardless, it sounds like even at Cryptsy we will have to go through the voting process. We really need the assistance of the community here as the next phase of our project will rely on OctoCoin being more liquid (which requires higher volume exchanges.)

[MagmaCoin]

I don't understand what's going on
Where's the community supporting this coin?

[frameLAlife]

This coin has been out for 8 days. The community has been doing fine for this coin.

[edric]

Hey everyone, just reporting in.. I've been gone since about 5PM yesterday and just now got home, some family stuff. Before I left yesterday it was brought to my attention that some users (AOL mainly) were not receiving password reset emails in the event they lost their password.

I am going to hold off most likely until Monday to switch our DNS around, so as not to cause any problems. The frontend is through Cloudflare so I believe it'll be cached long enough for DNS to do it's thing, anyway. When it's nearly time for the DNS changeover I will report it in here in big green letters, and I will add an announcement on the site as well. I'll shoot for 6PM CST Monday.

I apologize for running late with the 25% giveaway! I'll do that tomorrow afternoon and get the prizes sent out! I think I'll do it like my BirdCoin giveaway, and split it into two pieces, the winner getting 2/3 of the prize and the runner-up getting 1/3. Remember, to be eligible for the drawing, you have to have mined within the last week and received at least ONE payout to a valid address. When I generate the winning userID's, I validate them for eligibility against the payout logs. If the first number drawn is either myself or an ineligible user, I will repeat the process until one is found, then move to the runner-up. Good luck!

I've gotten a fix in place for the missing emails but it is going to cause issues with my Gmail, I'll start hitting daily send limits and emails won't get delivered, my box has a billion messages, etc. Can someone recommend a decent free email service to set up with that doesn't have any limits? Apparently just sending out emails from my servers without using SMTP only works for some email addresses, but using gmail's smtp is making every mail that goes through my server show up in my box now.

Ugh, a simple post always turns into a wall of text and I'm half asleep. Nite guys.

[CharityMiningPools]

CharityMiningPools - Donate to Charity while you Mine!

888.charityminingpools.com

PROMOTION!
0% Lifetime Octocoin Pool Fees for the 1st 88 Miners who sign up and Mine at our Pool!
* This does not apply to the Mandatory 0.8% Donation Fee to Charity, only Pool Fees

BRAND NEW - Need Miners!
Be a pioneer and help us get started, come mine while making a difference.  

Mandatory 0.8% donation fee goes to The Water Project this month.  We welcome and encourage you to donate more to a good cause.

SSL, STRATUM, VARDIFF, Datacenter Redundant Server Farm, Load Balanced Servers, Frequent Backups, DDOS Protection
0.8% Mandatory Donation fee to a Good Cause, 0.8% Pool Fees (0% lifetime for 1st 88 Miners who sign up and Mine), 0% AP TX Fees

Who Are We?
CharityMiningPools was created to allow miners the ability to mine coins while still knowing that their hashing power is going towards something good.  Our goal is to provide a positive and reliable service while delivering a small portion of the proceeds to a deserving recipient.  Plans are in the works to allow individual miners to choose where they would like to donate to based on a pool of available recipients.

How Does This Work?
All coins minded at CharityMiningPools will require a mandatory 0.5% Donation fee.  This donation fee will be collected and donated to the designated charitable recipient for that given month.  Though we only require a minimum 0.5% Donation fee, we welcome and encourage our miners to raise the stakes and donate more to a good cause.

Cheers!
CharityMiningPools

[Radi777]

Keep voting on cryptorush, come on guys!

[edric]

Don't forget to mine with us at http://octocoinpool.tk for your chance at our 25% giveaway tomorrow! We'll be doing it every week but we're looking for some other kind of promotion to offer as well!

Also, forgot to mention, since blocks went down to 88, the pool's promotional .5% fee has ended and is now 1%. I honestly hate to do that but you would be surprised how much of nothing we're making!


If anyone would like to donate to add to the giveaway fund and to the server fee/replace Edric's broken GPU fund, it's all appreciated!!

888: 8SEk9vK2cEVtHU2W568rVqTPgKMU9gk7Tc

[gamerzone]

now it give 88 coin only instead of 888

 

time to run

[frameLAlife]

88 per block and 1/8 chance to win the 888 block. Still tons of coins to earn.

[niothor]

I don't understand what's going on
Where's the community supporting this coin?

With you activity rating , Im sure there are lots of things you don't understand.

[homey108]

Why does the everyone and especially the DEV ignore the elephant in the room?  FusionHash has almost never been under 50% of the total hash. Usually they are in the 80+ range and often well above 90% of the total hash.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

First of all, there is some confusion here on what exactly a 51% attack is. Double-spends are a concern if we're talking about a malicious pool operator but FusionHash has an impeccable reputation and maliciously abusing their position would be senseless to their long-term business plan. Also, while it may be true that at one point they had over 90% of the total hash, as you may have noticed, there was no fork/etc - there are a lot of misconceptions surrounding what exactly a 51% attack is capable of and I suggest doing additional research on the topic.

I think it's time for the DEV to disclose any relationship with fusionhash. I for one was surprised to see him/her making announcements on behalf of fusionhash throughout this thread. Is the dev also running fusionhash? What is the relationship if this is not the case? Part of the 8 unknown people behind this coin? If anyone doubts me, quickly check through this thread before the dev's posts are deleted or edited and you can see for yourself where he has been reporting on their behalf.

Our relationship to FusionHash is that we reached out to them 2 weeks before we launched OctoCoin and asked if they would be one of our launch pools. Mining pools are only a small part of their business model as they are building a large rent-a-hash operation, an exchange, coin hosting services, and more...but everybody speaks very highly of FusionHash which is why we specifically reached out to them. Also, we knew it would be great for marketing. The majority of OctoCoin miners were mining in that pool so when my inbox began to fill up with people upset about delayed payouts, I contacted the owner of FusionHash to help sort it out. I doubt they even have an account here - I wanted to make an announcement regarding an issue that was affecting a number of people mining the coin we just launched. I'm surprised anybody would have an issue with that.

Way past time to deal with the elephant in the room and stop complimenting the emperors nice clothes.

No elephants in this room. Look - people are going to mine where they want to mine. If it actually becomes an issue, we will address it...but it's nowhere near an issue. People need to educate themselves on these things and react accordingly. We are very serious about OctoCoin and if we thought any of this was a threat to its future (even short-term future) we would have addressed it by now.

More to come later...

Thanks for responding.

I completely disagree with ignoring the issue of having one pool with a substantially higher share of the total hashrate. It makes no sense to ignore this regardless of your faith in the admin(s).  It's 's not like it has been a rare occurrence. In fact it would've been almost impossible to ever find a time when they didn't have a lot more of the total hashrate. As I write this they have just about 80% of the total which has been a completely common value throughout the last week. Ignoring issues doesn't make them go away.

If they are so ethical, why haven't they made any effort to deal with the issue?