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XMR mining app, built with Vue.js, D3 and CoinHive

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Re: XMR mining app, built with Vue.js, D3 and CoinHive

#51

Post by Avamander »

pr0gramm wrote: post #49
Mikushi wrote: post #45

Earlier quoted context omitted.

https://monad.network/ Coming up pretty nicely, been working with them for some time.

Sadly, like all the other clones, they just "stole" the Cryptonight WASM implementation from Coinhive. Think about it: they're hosting a WASM blob on their site for which they don't have the source code and can't tell with certainty what exactly it's doing. With so many faces on their team page (and a dog!), you'd think they'd have the resources and competence to build something of their own.

And they aren't saying a single word about what fees they take and they offer no easy way to ask for user's permissions.

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#52

Post by Kiro »

pr0gramm wrote: post #49
Mikushi wrote: post #45

Earlier quoted context omitted.

https://monad.network/ Coming up pretty nicely, been working with them for some time.

Sadly, like all the other clones, they just "stole" the Cryptonight WASM implementation from Coinhive. Think about it: they're hosting a WASM blob on their site for which they don't have the source code and can't tell with certainty what exactly it's doing. With so many faces on their team page (and a dog!), you'd think they'd have the resources and competence to build something of their own.

Isn't that IP theft?

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#54

Post by pests »

phoyd wrote: post #48
pests wrote: post #31

Earlier quoted context omitted.

It doesn't collapse. Mining might become unprofitable for some miners. They will drop out and the difficulty will decrease. Other miners are still profitable. Once decreased they or other miners might become profitable and start mining thus increasing the difficulty. It's an equilibrium.

Mining will be in an equilibrium, but the equilibrium might be at a point, where the network can not be protected from a 51% attack. Currently, it will cost around $2bn to buy the hashing power to control Bitcoin - that's the price of one Stealth Bomber.

Any point could be the point it can not be protected from a 51% attack.

So what if the bitcoin hash rate drops to say even 10% of current levels. Yes, it'll be way easier for other actors to come back and control 51% but you made my point: that can be done right now for $2bn.

No one ever talks about the fallout effects if a 51% attack does occur.

First of all, we can detect double spends. We have the complete history and just because the head chain was changed doesn't mean the old chain was forgotten.

The mere act of performing a 51% attack becoming public knowledge will crash the price and now the attacker gets devalued coins. Might not even be worth it.

Secondly, 51% attacks are hard. I don't know where you got the $2bn number above but I'm guessing its the equivalent of the current network hash rate.

To double spend a transaction 6 blocks back that means you need to mine 7 blocks before the other 49% of the network mines 1 block.

I choose 6 blocks back as thats the number of blocks most software/people consider needed to consider a transaction confirmed. With bitcoin's target of 10mins/block that is one hour of transactions.

It seems that 51% attack really requires a 7/8 = 87.5% attack. *

* Technically this only needs to be sustained until caught up with the current head chain length and then you can resume 51%.

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#55

Post by phoyd »

pests wrote: post #54
phoyd wrote: post #48

Earlier quoted context omitted.

Mining will be in an equilibrium, but the equilibrium might be at a point, where the network can not be protected from a 51% attack. Currently, it will cost around $2bn to buy the hashing power to control Bitcoin - that's the price of one Stealth Bomber.

Any point could be the point it can not be protected from a 51% attack. So what if the bitcoin hash rate drops to say even 10% of current levels. Yes, it'll be way easier for other actors to come back and control 51% but you made my point: that can be done right now for $2bn. No one ever talks about the fallout effects if a 51% attack does occur. First of all, we can detect double spends. We have the complete history…

The network hash rate is roughly equivalent to 1M Antminer S9 rigs, which would cost something around $2bn, perhaps $3bn.

Your attack scenario assumes an attacker who wants to extract a financial gain from his advantage while keeping a long position.

However, there are scenarios where an attack might benefit from a crashing bitcoin or the ability to deliver a plausible threat to trigger that crash

An example could be a nation state who would like to remind its negotiating partner, how easily they could establish control over a network that holds a substantial amount of foreign wealth. China obviously. Another one would be an investor who wants to short bitcoin in a massive scale (This has been done before, think of George Soro's 10bn GBP bet against the Bank of England)

Crashing seems a lot easier that trying to double spend. A majority hasher could simply ignore all blocks that are generated from the minority and mine only their own blocks, containing nothing but dummy transactions between the attackers wallets. The minority miners would at a 50% chance mine a new "honest" block and at 50% mine an attackers block, giving the attackers blockchain an 75 over 25 advantage. Since there are no real transactions in the attackers blocks, there would be no way to move bitcoins around anymore, holding them literally hostage.

If there is a way to make a profit from a large scale attack, then that large scale attack will be made some day.

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#56

Post by davidwihl »

Avamander wrote: post #50
gregman1 wrote: post #41

It is not a 'mining app' but a front-end nobody needs. Is there any coinhive alternative? That would be a progress.

Are there any that let me specify what percentage to give to the devs?

https://github.com/fireice-uk/xmr-stak

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#60

Post by bradoyler »

icelancer wrote: post #44
lojack wrote: post #39

Earlier quoted context omitted.

I don’t currently mine, but everything I’ve been reading has roughly 2/3rds of your profit going towards electricity. Regardless, I find it hard to believe CPU mining using JavaScript in a browser is even remotely energy efficient.

At 12c/kwh with a Radeon RX Vega56 consuming 200W and a hashrate of 2000 h/s, mining XMR currently yields has a 61% profit margin; it's 79% ROI if you are getting free power. This is not the most power efficient setup (as I said, there are far, far more efficient cards, especially when run in tandem) but it is the most sought-after card due to density. Regardless, it's exceptionally profitable to mine if you already…

Radeon Vega64 is insane. Sold out everywhere I’ve seen.
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