Are the attackers on again?
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I wouldn’t automatically assume it as an attack. FTC is becoming quite popular regardless of the attacks lately. :)
…but BTC-e just fell down and went boom.
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True but instant addition of 2.5mh the moment the difficulty changed is suspicious. Let’s hope we stay above 5mh total
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Especially as profitability will have dropped below LTC now. Fingers crossed they run out of financing for their venture soon.
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No doubt.
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Gulp! BTC-e down now… Either I’m seeing paranoia everywhere or they are making a push for delisting
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2GH+ is what we think the attackers may have at their disposal. It is tough to know if they are throwing their hash power at us. The could be doing so in the hope to push our difficulty higher then it currently is. This is not going to work out for them.
Last price on BTC-e was 0.00102 which put us under slightly under 100% profitable. Miners who seek immediate profit will start drifting away and the attackers would only be helping us keep the block chain ticking. I positive that we can look forward to a lower difficulty next time.
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The pool I’m on seems to still ticking along w/ mining and payouts at least for the moment.
BTC-e just came back up as well. :)
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[url=http://forum.feathercoin.com/index.php?topic=1558.msg13040]http://forum.feathercoin.com/index.php?topic=1558.msg13040[/url]
I hope I’m wrong about this…
But a coordinated strike against ftc traders then a 51% strike against the system might be coming.
Though the question is this motivated by profit or people who just want to prove something. I think a bit of both. So the question will be which trade site won’t be affected if this happens…
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Seems like since BTC-e is blocking deposits (100 confirms) the attackers have to wait for people to stop buying to sell any. This is going to get boring for these people. Typically when someone sets out on a scorched earth crusade they need the adrenaline response from seeing prices drop. They’ll experience heightened sense of failure. Maybe even question whether their purism is maybe, I don’t know, crazy.
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[quote name=“Lycanthroat” post=“13117” timestamp=“1370975974”]
Well, I’m fairly new to the cryptocurrency game, and it is giving me some bit of anxiety that we won’t ever be able to shake these attacks.
[/quote]Here’s the thing. FTC is just reaching elementary school. So somebody wants its lunch money.(scam it and beat it up, drown it in a bathtub, all for the LOLs and bragging rights)
When it reaches high school someone will want it’s girlfriend.(try to steal it’s miners and destroy it’s pools)
When it gets to college it will be lied to about what it is.(corporations and governments will look at defining it thus putting pressure on everyone involved with it)
When it finally gets a job in the real world someone will keep trying to break into it’s house.(deliberate attacks sellers or mass stealing of wallets, gov sponsored hash pools)
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[quote name=“Lycanthroat” post=“13117” timestamp=“1370975974”]
Well, I’m fairly new to the cryptocurrency game, and it is giving me some bit of anxiety that we won’t ever be able to shake these attacks.
[/quote]It’s all good Lycan.
You should feel like this …
[img]http://www.reactiongifs.com/wp-content/uploads/2013/05/nope.gif[/img]
not this …
[img]http://www.reactiongifs.com/wp-content/uploads/2013/03/freakedout.gif[/img] -
Well in any event the hash is back down to 4, nothing bad happened and everything seems to be ticking along like clockwork.
Did the try and fail? Who knows. Maybe they went off to eat that bowl of d**ks they so deserve.
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[quote name=“zerodrama” post=“13115” timestamp=“1370975642”]
Seems like since BTC-e is blocking deposits (100 confirms) the attackers have to wait for people to stop buying to sell any. This is going to get boring for these people. Typically when someone sets out on a scorched earth crusade they need the adrenaline response from seeing prices drop. They’ll experience heightened sense of failure. Maybe even question whether their purism is maybe, I don’t know, crazy.
[/quote]The 100 confirms took me over 14 hours to deposit a test amount of 20ftc. It will deposit. But I had over 1000 confirms in my client, and it was stuck on 49 in btc-e.
Time is on our side though…
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[quote name=“jeremiel” post=“13119” timestamp=“1370976342”]
[quote author=Lycanthroat link=topic=1604.msg13117#msg13117 date=1370975974]
Well, I’m fairly new to the cryptocurrency game, and it is giving me some bit of anxiety that we won’t ever be able to shake these attacks.
[/quote]Here’s the thing. FTC is just reaching elementary school. So somebody wants its lunch money.(scam it and beat it up, drown it in a bathtub, all for the LOLs and bragging rights)
When it reaches high school someone will want it’s girlfriend.(try to steal it’s miners and destroy it’s pools)
When it gets to college it will be lied to about what it is.(corporations and governments will look at defining it thus putting pressure on everyone involved with it)
When it finally gets a job in the real world someone will keep trying to break into it’s house.(deliberate attacks sellers or mass stealing of wallets, gov sponsored hash pools)
[/quote]Good analogy Dude :D
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I think our previous attackers are going to do what they did to us but to cnc. Hashrate jumped on an almost dead coin(12mh for weeks… that’s almost dead). i expect a pump here in a bit.
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Well this can’t be good. We’re back under 1gh/s, which puts us easily back within the attackers range. Blocks are taking 10 minutes instead of 2.5, which means another 2 days until a retarget, assuming we don’t lose more hashing power.
If I were the attacker (which I’m not) I’d see this as an opportunity waiting to happen. He could launch another 51% attack, with a modified timestamp on the block which would cause difficulty to calculate wrong again, bringing it down further while hash rate goes through the roof.
I don’t see this going well for us.
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I could see them attempting to attack it again, but considering that their last attack was unsuccessful, it might not be worth the money to them. Either way, if it didn’t work the first time, I don’t see how it would work a second time. One or two people are not going to bring down a community this strong.
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Saying that it was unsuccessful is like saying that the US lost the Vietnam war: Your correct.
Now let’s examine the casualties:
[list]
[*]They succeeded in artificially lowering difficulty, bringing in hash power too fast.
[*]They DDoS’ed the major pools. Pool payouts were crippled. Miners were disenfranchised.
[*]We’re now stuck back in a difficulty trap for the next few days.
[*]The flaw has gotten so much exposure that Feathercoin is being made an example of in the media, losing it’s credibility.
[*]The attacker made off with a bunch of coins.
[*]The price on the exchanges inflated, then crashed back to it’s normal support line over the course of 48 hours.
[*]Exchanges reacted by raising confirmations to 100 because the exploit is ready to go again and they don’t want to be caught holding the difference. This actually changes nothing, since the attacker could use their hashpower to mine a 101+ block chain fairly easily.
[*]Web sites for calculating difficulty had to take it off their lists.
[*]The problem is considered so serious, all marketing efforts are being put on hold in order to address this problem.
[*]The exploit is ready to go again.
[*]A solution to the problem has not been agreed upon (yet).
[/list]All of this amounts to NOT GOOD. Solutions are at hand, but timing is critical. Days count at this point, since difficulty is headed downward.
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[quote name=“Kevlar” post=“13877” timestamp=“1371078004”]
Saying that it was unsuccessful is like saying that the US lost the Vietnam war: Your correct.Now let’s examine the casualties:
[list]
[*]They succeeded in artificially lowering difficulty, bringing in hash power too fast.
[*]They DDoS’ed the major pools. Pool payouts were crippled. Miners were disenfranchised.
[*]We’re now stuck back in a difficulty trap for the next few days.
[*]The flaw has gotten so much exposure that Feathercoin is being made an example of in the media, losing it’s credibility.
[*]The attacker made off with a bunch of coins.
[*]The price on the exchanges inflated, then crashed back to it’s normal support line over the course of 48 hours.
[*]Exchanges reacted by raising confirmations to 100 because the exploit is ready to go again and they don’t want to be caught holding the difference. This actually changes nothing, since the attacker could use their hashpower to mine a 101+ block chain fairly easily.
[*]Web sites for calculating difficulty had to take it off their lists.
[*]The problem is considered so serious, all marketing efforts are being put on hold in order to address this problem.
[*]The exploit is ready to go again.
[*]A solution to the problem has not been agreed upon (yet).
[/list]All of this amounts to NOT GOOD. Solutions are at hand, but timing is critical. Days count at this point, since difficulty is headed downward.
[/quote][b]I agree with most of what you are saying.[/b] So to save time, I just want to highlight the points we have some disagreement.
“The price on the exchanges inflated, then crashed back to it’s normal support line over the course of 48 hours.”
When Lightcoin was approaching 60 cents, I watched it end up being BTC-e’s pump and dump toy for weeks. While we certainly want to reflect a good rate, I don’t put too much stock in the exchange rates.
“The flaw has gotten so much exposure that Feathercoin is being made an example of in the media, losing it’s credibility.”
While it was certainly a bad situation, it hasn’t slowed down the number of signups nor the people talking about Feathercoin. What happened to us can EASILY happen to any other Scrypt coin with the exception of Litecoin. With GPU miners moving that direction over the next few months, they are not immune.
“The problem is considered so serious, all marketing efforts are being put on hold in order to address this problem.”
That’s not true. In fact, as I’m typing this, I’m working on the Feathercoin Myths videos right now. Bushstar might be appearing back on Let’s Talk Bitcoin in the next few days and I’m following up with more radio. I’m also gearing up for the next push once it’s announced. I’m still putting the same hours, just shifting things around. For example, I’m touching base with all active members, again, gearing up for what’s about to happen.
“A solution to the problem has not been agreed upon (yet).”
Bushstar is evaluating a few possible solutions with a well known developers in the community. I will wait for him to say something when he feels confident it’s technically feasible. I don’t want to say x, and have every Feathercoin hater up my #$#@# if it goes a different direction.
Again, I agree this is urgent. However, if these changes are put in place, it’s not just a patch job for the coin… it’s a new category. There’s only so many hours in the day, everything that can be done is being done.
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[list][quote name=“Kevlar” post=“13877” timestamp=“1371078004”]
[list][*]The flaw has gotten so much exposure that Feathercoin is being made an example of in the media, losing it’s credibility.
[/list]
[/quote]What I see is Feathercoin being mentioned in two prominent online web publications dedicated to cryptocurrencies and being portrayed in a good light and sympathetic way. If anything it makes us the underdog fighting against the big (possibly corrupt) powers that be; and everyone loves the underdog (except the powers that be lol).
