Are you yet another person who fears the premine?
The market has it already factored in the price of Chia.
The two times parts of Premine has been released. The price went up.
Itâs (the pre-mine) never bothered me, Iâm more concerned about NoSSDâs single farmer.
1 Like
Im not sure how NC effects how much XCH/PiB I get.
If you figure it out please let me know.
Nossd people â where is remote compute
Can you please fast track this if possible?
I have a bunch of discs in EU for my plex server but the power cost in EU is stupidly high.
I have all my gpus at home ready to blast but the data usage is very high for nfs
Remind me how long youâve been asking?
If youâre selling your XCH on a daily basis, it probably doesnât, however if youâre holding it could well do.
1 Like
Now it is down to 5 so thereâs that
So, what does it mean exactly?
I think it means that if nossd and max and 3 others collude then they can cheat the network- double spend, etc.
Except max canât because his block wins are farmed by other peopleâŚexcept he could change the codeâŚ
Netspace is nearly up to ath and xch price seems to be rising so I suppose no-one actual cares
Itâs not directly about the price of XCH, itâs about the security of the chain.
If CNI canât get businessâs to use the block chain because it isnât secure, then that will ultimately affect the price of XCH.
People need to see the bigger picture.
1 Like
My understanding is that NC can represent different things as there are no exact formulas. Saying that, chiaâs NC dashboard looks like is based purely on 50% of netspace. However, timelords are also integral to the overall dynamics, making anything based on netspace only kind of misleading.
The second thing for me is that NC is kind of similar to say PM 10 pollution index. Sure, high levels are bad, etc., but what matters are trends and what is being done about it. The first signal (NC dropping) was when OG pools started, and that was quickly averted by providing pool protocol. However, this time the trend is going on for several months already, and CNI was sitting on their hands doing virtually nothing.
Also, when you take a look at the last few drops, each drop takes much longer than the previous one. So, again this is kind of misleading, as it still gives some comfort for those that think that there is plenty of time to get to 50%.
Therefore, as I mentioned before, maybe the best metric is that majority attack doc, as based on it NoSSD needs just one fast timelord to take over the bc. That implies that a table of say 100 fastest timelords would be also beneficial to have (to see where are other folks).
As far as the netspace being ath, I think this is kind of artificial or rather misleading number. We know that NoSSD + GH sit on around 25 EiB, thus assuming just 50% extra efficiency gives you an extra 10EiB, what brings the physical netspace back to 20-22 EiB levels (before compression).
I guess, if NoSSD or Max would be interested in starting such attack, the fastest way would be to drop fees as that would attract more people. Again, I am not saying that either party wants or doesnât want to start such attack, just that such a thing is possible.
Another way of looking at it is to check the value of pre-farm. Letâs assume that it is $1b right now. With this in mind, if two of us (you and me) have around $5-10m, we could potentially buy both NoSSD and GH today, modify GH code overnight and be at around 70% tomorrow. At that point we would be a serious threat to pre-farm, so could ask CNI to pay to make the code open-source.
In my opinion, to think that someone will start such an attack just to have fun ruining the bc is kind of foolish. On the other hand, it doesnât look like far-fetched to me to go after pre-farm payout. Therefore, my take is that this is CNI incompetence and/or negligence that we are in this situation right now.
By the way, you stated that â⌠no-one actually caresâ. You are with NoSSD, right? So, you like to have your cake and eat it?
EDIT:
This is my post from Aug '22 where I mentioned the need for harvester supporting plug-ins (for NoSSD at that time), thus avoiding the current problem with those 3rd party plot providers - NoSSD Chia Pool, +30% reward with new compressed plots, fast plotting without SSD - #808 by Jacek.
2 Likes
Yes, I suppose it is like the âtragedy of the commonsâ
Crypto and the tragedy of the biggest pool
All of which makes the CNI decision to not buy the NoSSD tech when it was offered to them even more questionable.
1 Like
Youâre saying that with the benefit of hindsight. Back then nobody knew what was to come, or even if NoSSD was a workable solution (apart from the authors).
Bullshit, you didnât know, but NoSSD knew thatâs why they asked for $2million, if CNI werenât smart enough to understand the tech, that was their problem and now everyone elseâs problem.
Bullshit to you to!
Read the last 4 words of what I wrote!
1 Like
Take a look at this repo - https://github.com/Chia-Network/chiapos/tree/main/hellman_example. It was published 5 years ago by CNI and provides Hellmans attack code. Of course, that code was slow (not optimized, not GPU supported).
Also, thanks to Max and a couple of more guys, they vetted NoSSD plots early on.
2mln isnt exactly pocket money, regardless of whether itâs worth it or not.
Especially for a product that does not generate income for CNI.
We now know that the cash balanse wasnt that great anymore (hence the selling of part of the prefarm and letting off 1/3 of the staff)
The main thing is that Chip-22 is too late but might still do some good.
If that was out before gpu farming, all would be well now.
Then again hindsight is always easy, I can understand certain choices that were made.
1 Like
CNIâs tech people were too waka to see what NoSSD was, and they closed their eyes hoping it would go away, then panicked. Then they went to backhanding them in chat forums. Actually CNI has a history, Bram particularly, of calling out any new tech development as a scam, that included NoSSD and even Max at the beginning. They cast shade on both of them. They struggled so hard for so long to compete with Max and NoSSD and fell flat on their faces, that is the level of tech capability they have compared to either 3rd party solutions. So maybe their real expertise now is selling a corporate blockchain solution? I await with baited breath lol.
CNI got close to $70m also to deal with such situations, and that is a lot for a tech startup. Moreover, they have around $0.5-1b in pre-farm. So, I donât think money was the issue.
If money isnt an issue, you dont fire 1/3 of your staff
1 Like
Money allocation is the issue.
That 1/3 of staff was drawing salary from that $70m pool (as everyone hired). The only way to divide that pool was salaries and bonuses. (It is rather unusual to have a top-heavy startup.)
On the other hand, pre-farm is based on the stock allocation, and as such considered as âpersonalâ money for a handful of people, thus there is a strong resistance to spend it.