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What is EIP:918?

EIP:918 is an Ethereum Improvement Proposal for standardizing mineable token distribution using Proof of Work.
The primary driver behind the standard is to address the very broken ICO model that currently plagues the Ethereum network. Token distribution via the ICO model and it’s derivatives has always been susceptible to illicit behavior by bad actors. New token projects are centralized by nature because a single entity must handle and control all of the initial coins and all of the the raised ICO money. By distributing tokens via an alternative ‘Initial Mining Offering’ (or IMO), the ownership of the token contract no longer belongs with the deployer at all and the deployer is ‘just another user.’ As a result, investor risk exposure utilizing a mined token distribution model is significantly diminished. This standard is intended to be standalone, allowing maximum interoperability with ERC20, ERC721, and future token standards.
The most effective economic side effect of Satoshi Nakamoto’s desire to secure the original Bitcoin network with Proof of Work hash mining was tethering the coin to real computing power, thereby removing centralized actors. Transitioning the responsibility of work back onto individual miners, government organizations have no jurisdiction over the operation of a pure mined token economy. Oversight is removed from an equation whereby miners are providing economic effort in direct exchange of a cryptographic commodity. This facilitates decentralized distribution and establishes all involved parties as stakeholders. The ERC918 standard allows projects to be funded through decentralized computing power instead of centralized, direct-fiat conversion.
The Ethereum blockchain in its current state exists as a thriving ecosystem which allows any individual to store immutable records in a permission-less, invulnerable and transparent manner. Recently, there have been proposals to mitigate some initial ICO investment risks through the introduction of the DAICO model that relies on timed and automated value transfers via the smart contract tapping mechanism. However, this does not align a token smart contract as a non-security and still has the potential to put investors at risk if not implemented carefully, relying on centralized actors to be fair and community intended. Allowing users of the network direct access to tokens by performing computations as a proof of work supplies allows any smart contract to distribute a token in a safe and controlled manner similar to the release of a commodity.
As of 2017, all Ethereum token distribution methods were flawed and susceptible to Sybil attacks. A Sybil attack is a form of computer security attack where one person pretends to be many people with multiple computer accounts in order to manipulate a system in a malicious way. ICOs and airdrops are highly susceptible to these type of attacks so there is no way to verify that all ERC20 tokens distributed by the deployer were doled out fairly or unfairly. Proof of Work distribution is resistant to Sybil attacks. This means that ERC918 tokens are among the first trustless Ethereum tokens in the world. The distribution of ERC918 tokens is fair because they are allotted via an open, decentralized mathematical algorithm (that anyone can view on the mainnet blockchain) and not a centralized human monarchy.
ERC918’s first incarnation (and inspiration) was the 0xBitcoin project that launched in early 2018. Since then, several projects have realized the standard in innovative and creative ways. Catether (0xCATE) erupted early and additionally mints payback tokens during transfer operations to offset gas costs. 0xGold and 0xLitecoin each implement the first on-chain merge-mining with 0xBitcoin and the Mineable Gem project extends the standard onto a non-fungible collectible artifacts, whereby each gem has a unique mining difficulty. The Mineable project is a newer initiative that provides users with the ability to create mineable ERC20 tokens on-chain without writing a line of code and includes a virtualized hashing artifact market that allows miners to purchase on-chain vGPUs to improve mining difficulty and rewards. (written by jlogelin) ​


0xBitcoin is a Smart Contract on the Ethereum network, and the concept of Token Mining is patterned after Bitcoin's distribution. Rather than solving 'blocks', work is issued by the contract, which also maintains a Difficulty which goes up or down depending on how often a Reward is issued. Miners can put their hardware to work to claim these rewards, in concert with specialized software, working either by themselves or together as a Pool. The total lifetime supply of 0xBitcoin is 21,000,000 tokens and rewards will repeatedly halve over time.
The 0xBitcoin contract was deployed by Infernal_Toast at Ethereum address: 0xb6ed7644c69416d67b522e20bc294a9a9b405b31
0xBitcoin's smart contract, running on the Ethereum network, maintains a changing "Challenge" (that is generated from the previous Ethereum block hash) and an adjusting Difficulty Target. Like traditional mining, the miners use the SoliditySHA3 algorithm to solve for a Nonce value that, when hashed alongside the current Challenge and their Minting Ethereum Address, is less-than-or-equal-to the current Difficulty Target. Once a miner finds a solution that satisfies the requirements, they can submit it into the contract (calling the Mint() function). This is most often done through a mining pool. The Ethereum address that submits a valid solution first is sent the 50 0xBTC Reward.
(In the case of Pools, valid solutions that do not satisfy the full difficulty specified by the 0xBitcoin contract, but that DO satisfy the Pool's specified Minimum Share Difficulty, get a 'share'. When one of the Miners on that Pool finds a "Full" solution, the number of shares each miner's address has submitted is used to calculate how much of the 50 0xBTC reward they will get. After a Reward is issued, the Challenge changes.
A Retarget happens every 1024 rewards. In short, the Contract tries to target an Average Reward Time of about 60 times the Ethereum block time. So (at the time of this writing):
~13.9 seconds \* 60 = 13.9 minutes
If the average Reward Time is longer than that, the difficulty will decrease. If it's shorter, it will increase. How much longer or shorter it was affects the magnitude with which the difficulty will rise/drop, to a maximum of 50%. * Click Here to visit the stats page~ ( to see recent stats and block times, feel free to ask questions about it if you need help understanding it.


Presently, 0xBitcoin and "Alt Tokens" can be mined on GPUs, CPUs, IGPs (on-CPU graphics) and certain FPGAs. The most recommended hardware is nVidia graphics cards for their efficiency, ubiquity and relatively low cost. As general rules, the more cores and the higher core frequency (clock) you can get, the more Tokens you will earn!
Mining on nVidia cards:
Mining on AMD cards:
Mining on IGPs (e.g. AMD Radeon and Intel HD Graphics):
Clocks and Power Levels:


For the most up-to-date version info, download links, thread links and author contact information, please see this thread: Keep up to date for the latest speed, stability and feature enhancements!
COSMiC Miner by LtTofu:
SoliditySha3Miner by Amano7:
AIOMiner All-In-One GPU Miner:
TokenMiner by MVis (Mining-Visualizer):
"Nabiki"/2.10.4 by Azlehria:
~Older Miners: Older and possibly-unsupported miner versions can be found at the above link for historical purposes and specific applications- including the original NodeJS CPU miner by Infernal Toast/Zegordo, the '1000x' NodeJS/C++ hybrid version of 0xBitcoin-Miner and Mikers' enhanced CUDA builds.


If you have any trouble, the friendly and helpful 0xBitcoin community will be happy to help you out. Discord has kind of become 0xBTC's community hub, you can get answers the fastest from devs and helpful community members. Or message one of the community members on reddit listed below.
submitted by GeoffedUP to Tokenmining [link] [comments]

Analysis of Bitcoin hash as random number

So, I wanted to check to see how fair the process of selecting the winning number was using the bitcoin hash as the seed of the selection process. I was checking for two things, the first to see how fair the distribution was by using the hash as the seed, and the second to check how the modulus was affecting the results (specifically, when I took Abstract Algebra a few years ago, we did quite a bit with modulus arithmetic, and I remember it having some numerical preferences if the given modulus is not prime)
I downloaded every hash from every blockchain head from the first listed on until the latest one (height of 335917) as of beginning this experiment. Upon downloading each of them, I converted them to their base 10 representations. All of the hashes are accessible from this download link, in a tab-delimited file, the first field is the base 16 hash and the second field is the same hash in base 10.
Next, I started with the assumption of 100,000 participants and ran through every hash, generating the distribution of winning numbers for every participant. Once I had those, I incremented it to 100,001 participants and repeated the process. I continued this process up to 200,000 participants. For the first 50,000 of them, I generated graphs showing the distribution, just to see if I could eyeball anything peculiar. (I only generated graphs up to 151,437 as they wern't all that useful, so I stopped their generation to speed up processing time)
As you can see, from the pictures, the distribution does look pretty even and fair. It does have a bit of a wave to it. Something more interesting would be, what happens when I combine the numbers? I cannot directly combine all of them, as once I get past 100,000, the next graphs would be missing counts, since I started at 100,000. But, I can take all of them together and just look at the first 100,000 entries.
So, I combined all of the counts for the first 100,000 from each of the 100,000 sample data files ( Looking at those, here are the top 20 most "lucky" numbers:
Comment Number Frequency
25629 233244
99519 232466
46573 232321
10771 232291
2661 232205
11007 232194
59292 232177
80981 232139
73451 232112
73992 232077
19341 232019
57305 232011
58395 232006
91116 231992
79011 231989
80739 231959
3507 231940
93467 231933
89215 231903
86667 231896
And, here are the 20 most "unlucky" numbers:
Comment Number Frequency
81698 223588
34854 223712
37994 223842
10250 223861
95114 223898
88458 224039
79994 224043
43990 224087
22234 224177
94254 224190
8970 224198
6238 224205
87414 224206
45974 224211
28078 224220
16808 224250
30474 224272
3578 224293
30230 224319
44045 224379
NOTE: I only went from 100,000 to 200,000 participants in my estimations, because the processing time was about 100 per minute, so just to process those 100,000 trials, it took an estimated 16 hours 40 minutes. If I were to process a larger selection (such as 100,000 to 1,000,000 participants) I would need to re-design my processing to use multiple threads or use OpenCL and offload the processing to my graphics card.
TL;DR - The distribution of chosen numbers for every given hash up until the most recent (as of a day or two ago) appears to be sufficiently well distributed.
EDIT: Oops, because of the +1 in the hashing, I was off by 1 in the comment numbers in my results, I have fixed that. The distribution is still exactly the same though, so the graphs all basically remain the same.
submitted by Driagan to millionairemakers [link] [comments]

Don't I need the Blockchain to mine Ether? /Little about me and my history with mining

Hey guys, My first post on here, I'm just a newbie at this and I apologize in advance if this post is not up to your standards.
So, I started mining Doge while I was downloading the Bitcoin blockchain because the Doge one was soooo much smaller than the Bitcoin one. When I finally finished downloading the Bitcoin blockchain I was informed that the difficulty was too high and Ether was way easier and more profitable.
So, I downloaded OpenCL and made me a batch file and even without downloading a wallet I just double clicked the batch file to see what'd happen, just for fun. And you know what, it started up and I was getting 31MH/s and climbing along with 80% Efficiency. Later I actually downloaded a wallet along with the blockchain even though I have my ETH sent straight to Poloniex.
So I ask, I don't need the blockchain? I don't understand... Why is that?
As I said earlier, I'm completely new to this. I actually started dabbling in AUR two years ago, when that was still a thing but I never mined successfully. I gave up and just now, after Christmas 2015 started playing around with this and successfully mined my first .0130 on 30th December.
For those interested the specs on my gaming computer I'm using are as follows: - FD Define S ATX Case - Intel Core i5 3570K @ 3.40GHz & FD Kelvin 120mm Liquid cooling - 16GB DDR3 - ASUSTeK P8Z77-V LX (LGA1155) - 2x R9 290 Crossfire - 120GB Corsair Force 3 SSD - 500GB Seagate HDD - 2TB Seagate HDD - 3TB Seagate HDD - 1000w BeQuiet PSU
The R9 290's are actually a Club3D(Main) one and a Gigabyte/Windforce one. The Club3D one runs hotter than the other one coming in at 94°C before I took the side of the case off, but now it's at 79°C with dips going down to the 60's(I have the window open and Iceland in January gets cold as fuck which helps with cooling the cards down). While the Gigabyte one is at 63°C dipping down to the 50's when, like with the other one, a gust of wind comes through the window.
This computer was originally bought with a HD6850 card which, when that one died, got upgraded to a HD7850 card and when the games were getting laggy at the highest settings I decided to buy the Gigabyte R9 290 and a year later bought the Club3D card. It's actually supposed to be a gaming computer but, yeah.... Since I can mine on it with decent MH/s why the fuck not do it when I'm not in-game?
And I've been getting everywhere from 30-100MH/s but on average it's 50-60MH/s. Which, if I do say so myself, not too shabby. I'm getting somewhere around 2,4-2,9 ETH a day.
Any who, this was just a little introduction about me and my rig along with a question. I just want to wish you guys a happy new year and hope that when I've mined a good sum of ETH the price increases to 235Btc and we can live happily ever after.
submitted by RusselDunbar to ethereum [link] [comments] FAQ

General Questions What is a Bitcoin? Good question; see for more information.
What are your options to withdraw? We currently only allow withdrawals in BTC/LTC/BC/NMC/DOGE/XRP/DRK/RDD/BTS/CURE/PPC/NXT/SYS.
Why can't I deposit or withdraw "real currency", aka fiat (USD/EUJPY/GBP/CNY/RUB/etc.)? Due to international law, we do not allow you to deposit or withdraw fiat currencies. In the USA, there are MSB and FinCen regulations; in Europe, certain countries have banned cryptocurrencies, and in China, the banks aren't allowed to transfer cryptocurrencies. The laws may change in the future.
Why does my "Total Cryptocurrency Value" go down? This is because that display is tied to the exchange rates on other websites. Also see this user generated YouTube video for more information:
Are their any fees to join or monthly fees? No fees.
Do you speak Spanish/Russian/Chinese? No, only English, but Google Translator works well.
What are the maximums/minimums for withdrawing? There are no maximums. The minimums are small, see the withdraw page for details.
Where can I see the terms and conditions? Please click here for terms and conditions.
Where can I see the privacy policy? Please click here for privacy policy.
Are you hiring? We are always looking for quality talent. If you would like to contribute, then please send your cover letter and resume to [email protected].
Do you have a bug bounty program? Yes, we pay for bugs, so contact us for details or visit us at and submit bugs there!
Do you perform off-chain transactions? No we do not. All cryptocurrencies are sent, usually including miner fees, and can be seen on the blockchain for that respective cryptocurrency. This helps secure the network, makes our transactions transparent, provides an easier way to debug and track down coins, and reduces the chance for fraud. An off-chain transaction would be like what Coinbase could do if both users are Coinbase users and they change coins from one email to another, mark it in the database, and Bitcoin is never actually sent from one wallet to another.
Why does my balance reset after refreshing the page or changing cryptocurrencies? The server updates every 60 seconds and the balances you see updating in real-time are performed with Javascript. If you change pages quickly, or choose a new cryptocurrency, then it will look like it is resetting. However nothign is lost, as whatever cryptocurrency it is set at when the server updates will get the past 60 seconds of mining results.
Help! My account was hacked and withdraws are being made? Eobot is a secure site and has never been compromised. If your account was hacked, then you should change your password, turn on 2FA, and turn on email notifications. There are many unscrupulous Bitcoin sites, and most likely, you used the same password on another site. Never re-use passwords!
Do you have any wallpapers? Yes, you can download wallpaper1 or wallpaper2. Feel free to send us your own creations.
What does Eobot stand for? We have heard everything, let us know your favorite, including: Earn Online Bot, Earn Online Bitcoins Online Tool, Earn Online By Our Tech.
Is this legal? We cannot provide legal advice; make sure cryptocurrencies are legal in your jurisdiction before continuing to use Eobot.
Cloud Mining Questions What are the Cloud Mining fees? For electricity and maintenance, we currently charge a fee of 65% for SHA-256 and 65% for Scrypt. These values will change as difficulty increases, exchange rates change, and newer ASICs come online. These fees are better than our competitors, for instance CEX.IO charges $0.105 per GHS, which is a 81% fee! While GAW charges a 96% fee at current prices!
How long are the Cloud Mining rentals and contracts? Prior to October 11 2014, GHS/KHS contracts had no expiration. Old contracts are not affected. New contracts and rentals, mined or purchased after October 11 2014, are now limited in term for 5 years going forward. See your History tab for expiration dates.
Can I sell my Cloud Mining? No, you cannot sell the cloud shares at this time. This is because we own the hardware and do not want to be stuck if everyone decides to sell at once.
Can I buy Cloud Mining with credit card/USD? Yes, but please keep in mind you cannot sell or convert the Cloud Mining.
Can I buy Cloud Mining with cryptocurrency? Yes, deposit the cryptocurrency and then convert it to your choice of Cloud Mining.
What are the maximums/minimums when making a credit card purchase to buy Cloud Mining? The minimum is 1.0 GHS and 10.0 KHS and there is no maximum at this time.
Can I buy a Cloud Mining that mines in Scrypt? You can use the Cloud Mining SHA-256 hashing power to mine other currencies by automatically converting them as you mine, but the earnings will still be tied to SHA-256/Bitcoin difficulty, not Scrypt/Litecoin difficulty.
What is the difference between Cloud Mining SHA-256 and Cloud Mining Scrypt? One is tied to the difficulty in mining SHA-256 cryptocurrency (Bitcoin) and the other is tied to the difficulty in mining Scrypt cryptocurrency (Litecoin). This means that if history is any indication of the future, then the Cloud Mining Scrypt won't decrease as fast as the Cloud Mining SHA-256.
What does 1 instance of Cloud Mining SHA-256 and Cloud Mining Scrypt equal? 1 of Cloud SHA-256 equates to 1.0 GHS of SHA-256 mining power, while 1 of Cloud Scrypt equates to 1 KHS of Scrypt mining power.
Can I change the pool that my Cloud mines on? No, you cannot; this may change in the future.
What hardware is behind the Cloud Mining? The hardware varies from custom ASICs to GPUs. The ASICs are behind the SHA-256 and the GPUs are behind the Scrypt.
Can I RDP (remote desktop) into my Cloud Mining? No, you cannot at this time; we will run the servers for you.
What is the Cloud Mining Pre-Order? These are the same as the other Cloud Mining, but they will start mining on a later date. For instance, a Cloud Mining Pre-Order October 2014 will start mining on October 1, 2014.
Software/Miner Questions Why is it stuck on "initializing...please wait 5 minutes"? We recently changed our Scrypt pool, so this messge will show and the stats and speed won't show under your account. See pool info page for more info.
Why does it show as a trojan/virus? This is a false-positive that many of the popular antivirus programs report. For now you can ignore it, or try another free antivirus, like Microsoft Security Essentials. Hackers use something similar programs to make money off of people's computers, so that is why it shows up as a virus.
Why does Chrome block the download as malicious? This is another false-positive. Simply, go to your Chrome settings, scroll to the bottom and click on "Show Advanced Settings". Go to the Privacy section and uncheck "Enable phishing and malware protection". You will only do this temporarily. Then proceed to download our software. Then return to your privacy settings and recheck Enable Phishing to further protect you.
Do you have a Mac or Linux version? Yes, see the Pool Info under the Account page.
How do I use cgminer? See this English PDF tutorial for cgminer, or Spanish version, created by one of our members, for a simple walk-through.
How can I increase the speed? Important to increase speed: The default cgminer settings do not include hardware specific flags, which you may find here in the Litecoin Mining Hardware Comparison. Failing to use the proper flags can result in performance decreases in excess of 50%.
What do the intensity settings relate to? This is the same as cgminer flag --intensity. Low is 11, normal is none, high is 15, very high is 17, extreme is 19.
Can I use one account for multiple computers on same IP address? Yes, it will add your speed/rates together, you can use as many computers as you want.
Can I connect to the pool manually, through cgminer or bfgminer? Yes, see the Pool Info under the Account page.
Do you use Bitcoin and Litecoin? Yes, we are the easiest miner to use with BTC and LTC and convert on the backend automatically.
What do you use on the backend? We use cgminer, bfgminer, pooler's CPU miner, and a variety of pools.
Can I mine any cryptocurrency? Yes, regardless if you use SHA-256 or Scrypt (BTC vs LTC mode), you can earn and mine any cryptocurrency.
Can I use an ASIC? Yes, simply choose the option and run as GPU mode. Devices that work with bfgminer will work, for instance USB Block Eruptors or Butterfly Labs ASICs. You can also contact us for pool information for other ASICs.
What is the best graphics card/computer to buy? Either use a high end ATI Radeon card, or buy one of the USB Block Eruptor devices on Ebay/Amazon or a similar online store.
What drivers do I need for USB mode?
Why doesn't GPU mode work? You may need to download the OpenCL drivers; get them from here:
Where can I get the .NET framework? Try Windows Update, or use Microsoft Web Platform Installer.
Can I use a proxy server? Yes, edit intensity.txt and put the details in there, for example, add "--proxy=http://mycompany-http-proxy:8080"
Where can I download the software? Download from link here
Can I use custom flags/change intensity? Yes, you can put in whatever custom flags/parameters/arguments you want. Edit the "resources/intensity.txt" file. Put in whatever you want, like for GPU mode: "--intensity 12 --shaders 1024" or for CPU mode (number of threads): "-t 32"
submitted by KryptosBit to Bitcoin [link] [comments]

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