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Hero MemberActivity: 765Merit: 500 Re: [UNO] Unobtanium Info & Discussion - Current wallet 0.9.5 January 05, 2015, 08:51:56 PM #5162 Quote from: IMZ on January 05, 2015, 08:39:19 PM " Authpow with Bitcoin (merge mining) is a viable option for a long term rare, store-of-value, crypto-bullion/currency with big plans"



Yes!



UNO implementing AuxPoW against other coins is more beneficial than asking other Alts to implement AuxPoW against UNO. Take for example, NameCoin, IXCoin which are merged mined against BTC. They both enjoy a large amount of hash power since people would prefer to mine BTC and merge mining these coins with BTC is 'free' extra income.



Perhaps the best example is also DogeCoin that is merged mined against LTC. If they did it the other way around I don't think they would have gained the amount of hash power they currently have.



I'd love to see UNO merge mine with more than one coin. Wouldn't it be great to mine BTC, NMC, ZET, DEM, and UNO all at the same time? That sounds like a win for everyone to me. UNO implementing AuxPoW against other coins is more beneficial than asking other Alts to implement AuxPoW against UNO. Take for example, NameCoin, IXCoin which are merged mined against BTC. They both enjoy a large amount of hash power since people would prefer to mine BTC and merge mining these coins with BTC is 'free' extra income.Perhaps the best example is also DogeCoin that is merged mined against LTC. If they did it the other way around I don't think they would have gained the amount of hash power they currently have.I'd love to see UNO merge mine with more than one coin. Wouldn't it be great to mine BTC, NMC, ZET, DEM, and UNO all at the same time? That sounds like a win for everyone to me. Easy Solo Mining & Crypto Faucets

http://mining.securepayment.cc - http://faucet.securepayment.cc



gustav



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Hero MemberActivity: 602Merit: 500 Re: [UNO] Unobtanium Info & Discussion - Current wallet 0.9.5 January 05, 2015, 09:33:13 PM #5163 i have been reading up on auxpow



It appears the parent chain doesn't need to be changed or updated. Only the weaker childcoin (example doge) would need implement auxpow.



so i think it's correct we face two options:



1) make uno a sheltercoin for many weaker alts which all would implement auxpow when they feel they need it - uno doesn't need to change for that (correct?)

2) merge mining with bitcoin - uno needs implement auxpow



can't have both, or can we?



Right now i'm not 100% convinced Btc network will survive on the long, long run.

What if it dumps pretty much to zero? What happens to uno then if it had auxpow with it?

In the event of bitcoin going down the toilet we would be better off to be a seperate, wouldn't we?

Can someone educate me on those questions?





(maybe wait for bitcoin to show it can hold the drink before auxpowing with it?)

gustav



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Hero MemberActivity: 602Merit: 500 Re: [UNO] Unobtanium Info & Discussion - Current wallet 0.9.5 January 06, 2015, 12:00:48 AM

Last edit: January 06, 2015, 12:32:53 AM by gustav #5174



@FK need to make sure we get pools supporting it - and a few of course so not to be at the whim of a single poolowner! We'd actually need to make sure as many pools as possible would add it. So we'd probably first have to make sure it's working out before even implementing anything.



I could even imagine a miracle at this point in case bitcoin takes another dive.



Maybe this time next year bitcoin implements auxpow for uno, who knows?

All we need is a longterm investor with deep pockets (not a pumper)



I'd expect a drop in hashrate for bitcoin soon tbh. That's the next story coming possibly in case the bearmarket continues.



As we have been reading there's the remote possibility it could even end bitcoin (

especially since a drop in hashrate presents an opportunity for an attacker.



(scenario: Attacker gives additional hash before the drop causing a spike in difficulty for btc, then when the natural drop-out of miners happens due to low price the attacker would withdraw his hash from bitcoin too causing a massive drop in hash and causing bitcoin to get stuck on high difficulty with blocks solving taking hours, that situation would lead to further selloff and further drop in hash - in the event of this kind of attack bitcoin would need to hardfork or just be abandoned)



so there's quite some risks in bitcoin right now because the slow difficulty adjustment and the present opportuninty to attack it with fatal consequences. If that would happen you'd be pretty rich over night even without auxpow. i tweeted the overstock-CEO yesterday about uno@FK need to make sure we get pools supporting it - and a few of course so not to be at the whim of a single poolowner! We'd actually need to make sure as many pools as possible would add it. So we'd probably first have to make sure it's working out before even implementing anything.I could even imagine a miracle at this point in case bitcoin takes another dive.Maybe this time next year bitcoin implements auxpow for uno, who knows?All we need is a longterm investor with deep pockets (not a pumper)I'd expect a drop in hashrate for bitcoin soon tbh. That's the next story coming possibly in case the bearmarket continues.As we have been reading there's the remote possibility it could even end bitcoin ( https://bitcointalk.org/index.php?topic=912190.0 especially since a drop in hashrate presents an opportunity for an attacker.(scenario: Attacker gives additional hash before the drop causing a spike in difficulty for btc, then when the natural drop-out of miners happens due to low price the attacker would withdraw his hash from bitcoin too causing a massive drop in hash and causing bitcoin to get stuck on high difficulty with blocks solving taking hours, that situation would lead to further selloff and further drop in hash - in the event of this kind of attack bitcoin would need to hardfork or just be abandoned)so there's quite some risks in bitcoin right now because the slow difficulty adjustment and the present opportuninty to attack it with fatal consequences. If that would happen you'd be pretty rich over night even without auxpow.

gustav



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Hero MemberActivity: 602Merit: 500 Re: [UNO] Unobtanium Info & Discussion - Current wallet 0.9.5 January 06, 2015, 12:49:15 AM #5176 Quote from: FallingKnife on January 06, 2015, 12:43:46 AM Let's consider a doomsday scenario. Lets say Bitcoin hash fell by 99% from today's hash, and that Uno could only realize 1% of that 1%. Would it still be better off?



I'll attempt the math (yikes! I hate math, I'm bad at it).



Bitcoin difficulty is ight now 40,640,955,016.



Crash! Bitcoin difficulty falls 99% to a mere 406,409,550.



And poor Uno was struggling, and is only able to piggy back on 1% of that hash. This leaves Uno with a difficulty of just over 4 million.



At this moment, Chainz says that Uno's difficulty is currently at 706,400.



In this scenario, a merged mined Uno would still have nearly 6x (5.75x to be exact) more hash than it has today, in terms of difficulty.





ok, so we don't even need to wait for the bottom as it would still make sense to merge if btc would fall to double digits and as was told uno could still be mined solo.

You run with it, FK - i trust your judgement with the matter.

ok, so we don't even need to wait for the bottom as it would still make sense to merge if btc would fall to double digits and as was told uno could still be mined solo.You run with it, FK - i trust your judgement with the matter.