Electra ECA Mining Build
Learn About Electra and understand the purpose of the ECA token, get the latest news, find where to buy it and get to know the fundamentals of Electra. May 23, 2016 - Bitcoin mining group scams, on the other hand, operate by offering investors the chance to 'mine' bitcoins without dealing with the hardware and maintenance required. Also called bitcoin cloud mining, these companies scam investors by promising fast and easy return on investment. While legitimate. Live Electra prices from all markets and ECA coin market Capitalization. Ethereum Mining Contract 2 Year Large. How to Build a Cryptocurrency Portfolio. Instructions (by starl1ng): As I promised, a small manual to build Electra wallet under Ubuntu I used a fresh virtual machine with Ubuntu 16.04.3, let me know if you.
• • • • Flair Filters • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • * • • More links • • • • • • • • • Mod News: Limit of two posts per cryptocurrency on the front page. Check out the latest. Welcome Welcome to. This subreddit is intended for open discussions on all subjects related to emerging crypto-currencies and crypto-assets. Please make quality contributions and follow the for posting. Rules • Obey the Golden Rule & Maintain Decorum • Lead by example and treat others as you would wish yourself to be treated. • No Trolling.
Do not make random unsolicited and/or controversial comments with the intent of baiting or provoking unsuspecting readers to engage in hostile arguments. Trolling, in all its forms, will lead to a suspension or permanent ban. Do not waste people's time. It's the most valuable resource we have. • See our wiki page for more details about this rule.
Learn About Electra and understand the purpose of the ECA token, get the latest news, find where to buy it and get to know the fundamentals of Electra.
• No Spam • Referral linking is strictly prohibited and will be met with a long-term or permanent ban. • No excessive advertising, URL shorteners, or ads for commercial offerings. • No more than 2 comedy/meme posts allowed on the top page.
• No more than 2 promotional posts per coin on the top page. • To mitigate abuse from throwaway accounts, a minimum of 20 comment karma & 10-days account age is required for participation.
• See our page for more details about this rule. • No Manipulation • No pumping, shilling, or FUD (fear, uncertainty, doubt).
• Do not use multiple sockpuppet accounts to manipulate votes to achieve a narrative. • Do not solicit, complain about, or make predictions for votes.
• Do Not Incite Illegal Activities or Beg • Do not incite or encourage illegal activities. Content promoting leaks, buying/selling drugs, tax evasion, etc will be removed.
• No malware, spyware, phishing, or pharming links. • Do not post addresses or seek donations without pre-approval from the moderators. Pre-approval is granted in only the most extraordinary circumstances. • Do not beg for karma. • Do Not Post Low-Quality Content • High-quality submissions are encouraged. Baseless price speculation, shilling, repetitive posts et cetera are removed.
'Recommend a coin' can be discussed on the daily thread. • See our wiki page for more details about this rule.
• Do Not Reveal Personal Information • Do not reveal personally identifying information(PII), otherwise known as doxxing yourself. Divulging how many coins you own can make you a target of hackers and identity thieves. • Do not doxx other redditors even if they engaged in an illicit activity.
Report them to the mods instead. • Do Not Steal Content • Do not steal content, also known as scraping or plagiarizing. Submitting links to blogs or news sites which are notorious for this activity will result in suspension or permanent ban. Use to help determine if content is stolen or not. • Keep Discussions on Topic • Idealogical posts or comments about politics are considered nonconstructive, off-topic, and will be removed.
Exceptions will be made for analysis of political events and how they influence cryptocurrency. • Use Suitable Titles and Correct Flairs • No clickbait. Titles cannot be misleading.
They should accurately represent the content being linked. • Titles must be in English. • No URLs in titles.
• No low-effort content typically characterized by low character count, all caps, & banal wording. Example: 'SELL SELL SELL!!!' • See our wiki page for more details about this rule. • Communicate With The Mod Team • Report rules violations. The rules are only as good as they are enforced.
Mods cannot be everywhere at once so it is up to you to report rule violations when they happen. Do not fall victim to the Bystander Effect and think someone else will report it. • Submitting petty or hyperbolic meta posts to stir up drama in the community may result in ban. Message your issues to the modmail or in instead. • If you wish to have your subreddit or website listed in our sidebar, please review our first.
If you meet our standards, message the modmail. • See our page for more details. Monthly Top 10 Market Cap Subreddits Home Subreddits Related Crypto Subreddits Related Tech Subreddits IRC News • • • • • • • Exchanges • • • • • • • • • • • • Mining • • • • • Resources & Tools • • • • • • • • • Our Subreddit Friends • • • •. I don’t mean to shill this coin, but there are several reasons why it seems like it will explode. To name a few reasons: hasn’t been listed on any major exchange yet, higher transaction speeds than Raiblocks, active social media, great transparency and an ambitious roadmap which includes them coming out with their white paper within this first quarter.
What do you guys think? Seems like a no-brainer to me for a coin that is less than 1 cent with less than 1/3rd the supply of Ripple and Tron. Alright typed a longer response but my pc decided to do an update. This coin is a clear example of the insane fomo in the market right now.
Admittedly I sold recently and I'm very happy with my flip but my god. If you already missed this PnD, skip it. No white paper. Devs say its coming but really? This is a coin based on open source code with nothing differentiating it and literally no purpose.
Cool name which reminds me of the worst mistake Marvel Studios ever made. But it literally has no purpose.
Nothing at all. Why the hell buy this over any other shitcoin. Other than its pumping. The transaction time is a lie. The wallet near instantly gets a notification of a transfer and show the the amount as received but it still has to confirm. Its not really there. Test it by sending it back to the exchange.
Minecraft BURST Server. 6 confirmations. Took over an hour. If the transactions we're actually already instant then why are there staking rewards for having an open wallet? Why pay out for staking when it's theoretically unnecessary. The wallet is identical to a number of coins I've held.
Neblio and vertcoin immediately come to mind along with others. A mockup of a updated custom wallet was posted to the electra sub (and its now on their website) but nothing at all about the tech of this coin leads me to believe its anything more than a pretty picture.
Their twitter is in english. Their website was up and down for a full day. Which is fine, tons of attention.
But really how little did they they put into hosting? This is supposed to be a tech company. Now I will say the discord is popular and inviting. A nice place and well moderated. So that's good I guess? But its just hundreds of people saying 'hodl' and that they have faith in the coin despite there being literally nothing interesting about the coin at all. Now maybe they will have an updated white paper soon and some crazy announcements that will make dumping this the biggest mistake of my crypto career.
But I doubt it. Honestly I'm sure it will still rise for a bit but I got my profits and I'm out. Good luck dude.
Make sure you’re looking at @ElectraCoinECA on Twitter because I haven’t noticed any grammar mistakes. Also, their website has been down due to DDOS attacks, not necessarily the huge amount of traffic. The white paper is expected to come out this quarter, according to their roadmap. I’ll have to check the transaction time myself to confirm. As far as people buying this coin over any other coin similar to it, I’d say it’s the same as buying stock in Amazon instead of eBay. Both great, similar companies and money to be made off of both. Keep in mind that Electra is a new project.
Read their roadmap, seems very promising. I’m just going to hodl and hope that they keep their promises. Good luck to you as well man. • • • • • • •. Just rechecked their twitter. They deleted the tweets from yesterday and the day before that we're pretty garbled. You'd have to scroll pretty far back in the discord to find the stuff quoted.
Their roadmap is good but I can make a roadmap with some generic benchmarks to hit, without some kind of difference in tech or approach I just don't see a point in trusting a roadmap. The project has actually been around since last march but it apparently recently got taken over by new developers. I guess it might have been DDoS but at the same time when it came back up theres now some new content added about the project. Thats strange.
The wallets are also hosted on google drive.:/ loads here that is sketchy. I don't say any of that to be at all hostile. I'm thankful for what it gave me and I hope it works out for you. A whale I got shitfaced with a few months back (long story) told me 'They're only shitcoins as long if you get left holding the bag'. Took that one to heart. Again good luck and I'll be buying back in if they make more waves. • • • • • • •.
The hype for Proof-of-Stake cryptocurrencies is running hot. As Ethereum prepares to switch from Proof-of-Work to PoS, investors are looking for ways to hop on the PoS bandwagon early, often throwing caution to the wind and taking on quite a bit of risk. This leaves them vulnerable to scammers, who are also taking advantage of the hype, helping investors part with their money. I recently observed a very PoS-specific scam play out, and wanted to share the story as a cautionary tale. Mo’ risk, mo’ gains There are some established players in the PoS space, like, but the market seems to be more interested in the high-risk options: the new, small, and undervalued coins that have the largest upside potential.
(ECA) and (COLX) are two such coins that are generating a lot buzz at the moment. Both of them can be found on, a small exchange dedicated mostly to staking coins. For the past 5 days, their website has been largely inaccessible as it struggles under the huge influx of would-be investors. Having seen what happened to (XRB), investors are keen to find the next coin like it, one that’s only available on smaller and dodgy-looking exchanges, and will skyrocket once it hits an established ones like Binance. The potential gains come at the cost of the risk in trusting the current exchanges. The CoinsMarkets landing page, with the now ever-present CloudFlare warning at the top, indicating that the website is actually down, and you’re viewing a cached copy of the page.
The amount of trust CoinMarkets demands of the investors is quite significant. Their outgoing e-mails are currently being rejected by the big e-mail providers like Google, Yahoo, and Microsoft, and you’ll need a mailbox with weaker filtering (e.g. One that was provided by your ISP, or one you host yourself) just to sign up. And then, if you’re lucky enough to get a response from the actual website instead of CloudFlare, you will be entrusting them with a deposit of cryptocurrency, which you then hope to be able to exchange for one of these new coins, with the additional hope that you’ll be able to withdraw them at a later point. That said, I don’t believe that either CoinsMarkets or coins like ECA and COLX are actually scams. I’m simply using them to illustrate the level of risk that people are currently willing to take on.
And whenever dishonest people see a market so tolerant of risk, they know there is money to be made/stolen. And in the last few days, I observed a coin called DIVVY use a uniquely PoS-specific way to run a scam. What is Staking Before we dive in, let’s go over a very simplified and generic primer on how staking works. In a PoS system, instead of mining new currency by writing transactions into the ledger, you would “stake” your existing currency by keeping a wallet containing that currency online for extended periods of time. Your wallet would connect to other staking wallets, and together you’d verify the legitimacy of new transactions. The coins that you stake are used as collateral to keep you honest.
If your wallet turns out to be running a modified algorithm and verifying fraudulent transactions, you would lose some or all of the amount you staked. So the larger the amount you stake, the more you have to lose by being dishonest, and thus the more trustworthy you are. In return for your staking efforts, you would receive interest on the coins you staked. This interest comes from transaction fees that others have paid to have their transaction verified. The amount is a percentage of your staked amount, so this would generally only generate worthwhile profit to those holding really large amounts of the coin. If your wallet is big enough, you can even become a “masternode”, one of the select few wallets on the network that are officially endorsed, and whose addresses are the first ones clients try to connect to, to then get the addresses for the rest of the node network. Masternodes are generally rewarded with additional payments/interest, and can be quite profitable to run.
This is balanced out by the extremely high entry cost for becoming a masternode, especially for an established currency. For example, to become a PIVX masternode you would need a wallet with 10,000 PIVX, which is currently worth around USD 135,000.
A more viable way to become a masternode would be by being an early adopter of a new currency, either mining lots of coins while the rewards are high and difficulty is low, or by buying lots of coins while they’re still cheap. The Altcoin Announcements Board Before new coins are shilled on 4chan’s /biz/ or discussed in /r/ethtrader’s daily altcoin discussion, they are introduced to the world on bitcointalk.org’s. A sample of the board’s threads on a random day. When a new coin is announced, a new thread is posted on the board, and the first people to see it get to be the first to start mining it, or the first to volunteer to translate it in exchange for a bounty of coins.
It’s the primordial soup of cryptocurrency, governed by survival of the fastest. This leads us to the, excerpted below: [ANN] DIVVY - PoW/PoS Masternode Skein Dividend System Coming Soon Name: Divvy Ticker: DVY PoW Algo: Skein Block time: 60 seconds Total POW: 50,000 Blocks Masternode: Required 5000 DVY Port: 11445 RPC Port: 11446 Diff Retarget: 5 Blocks ( DGW in future ) Maturity: 30 Blocks Stake Minimum Age: 24 Hours Premine: 1% of total coins for 3 years (will be used for bountys, exchanges and other stuff) *We’re moving premine 20K DVY for stacking. This funds will use for exchange This lays out the specifications of the currency: it will be Proof-of-Work for the first 50,000 blocks using the Skein algorithm, then becoming Proof-of-Stake, with 5,000 coins required to be a masternode, and 24 hours of keeping the wallet online required to stake the coins in it. The developers have pre-mined the first 20,000 coins, which they’ll use to pay for exchange listings. These specifications are simply changes to the hard-coded configuration parameters in the, which is extended (forked) from an existing project that offers the kind of hybrid PoW/PoS system they want to use. In this case, it appears to come from Novacoin, a fork of PeerCoin, which was an early implementation of PoS forked from Bitcoin.
It’s not unusual to see coins doing this; Dogecoin, for example, was a fork of a Litecoin fork. But a lot of the time the new currency is expected to add some new useful paradigm into the mix. In the case of DIVVY, it appears to be “dividends”, hinted at by its name and a tagline that says “The New Generation Dividend System” on. And what a nice-looking website it is.
The Red Flags So far, things are looking good, and checking a lot of boxes that people are looking for: there’s a pretty logo, there’s source code, there’s a wallet and, there’s staking and masternodes, there are mentions of speed via “InstantSend”, privacy via “Darksend”, an upcoming “airdrop”, and there’s a schtick: dividends. In other words, it’s very “shillable”. “Only mousetraps have free cheese”, according to an old Russian proverb.
But it all falls apart when you take a closer look. Most of the links on the website don’t do anything. There are spelling and grammar errors throughout.
There is no white paper. There is no explanation of how the coin will work, just empty catchphrases. The source code lacks a proper development history. There is no information about the people involved whatsoever. There are no social media accounts. But for bitcointalk.org forum users, where the fastest are rewarded, there’s no time to check any of that. This was the part that was most fascinating for me.
Within minutes, posts appeared on the thread announcing that mining pools have been set up for DIVVY, and people were already mining and troubleshooting each others’ issues. The next few days were a flurry of activity: the initial PoW blocks were mined; the developers deployed a masternode, then changed their mind about the pre-mine amount, causing a bit or furore; an unofficial Discord channel with 100+ members was set up; alternate block explorers were made; shared masternodes were being negotiated. The amount of infrastructure to support the coin that was put up without any input from the dev was incredible.
The Scam The masternodes are the uniquely PoS-specific part of this scam. When the DIVVY developers changed the pre-mine amount, granting themselves 20,000 coins, explaining it as “this funds will use for exchange [sic]”, this drastically incremented the mining difficulty, making it impractical for anyone else to quickly mine the 5,000 coins required to run a masternode. The remaining option was to buy the coins from the devs. And the devs were keen to sell If the post above is to be believed, the devs got 7.5 BTC (USD 115,000+) out of the sale. Not a bad return for getting a logo designed, putting up a website from a pre-built template (some keen observers in the thread noticed a “smart home” section on the website, leftover from the template they were using), running a search-and-replace script over a codebase, and tweaking a few lines of configuration code.
How Do You Mine A BridgeCoin BCO more. There were a few dissenting voices in the thread, pointing out that it may be a scam, but they were drowned in a sea of people who wanted to believe that this was the ship that they boarded early enough to take them to the moon. Cynicism clashing with blind optimism in the thread. The devs have gone awfully quiet since the masternode sale, with a single post in the past week, promising upcoming exchange listings. But the infrastructure that had sprung up around the coin appears to still be running. The network is alive, and there are staking nodes, the mining pools seem to work, and the discord channel is fairly active, despite not having any of the devs (which could well just be a singular dev for all we know) in it. If there was anything particularly unique and redeeming about the code, the community could well continue the project without the devs. But since all the project currently offers is a name, a logo, and some parameters, I don’t see it happening.
But who knows, maybe the devs will come back to prove me wrong and build a legitimate product. The Lesson The clear lesson here is to always apply due diligence. Do not let the sparkle of potential profits in the distance blind you to the glaring issues right under your nose.
A bit of quick research led me to, another PoW/PoS hybrid that uses Skein. A comparison of its codebase to DIVVY’s shows minimal differences besides replacing “divvy” with “numus” throughout. It’s slightly more established, having a few exchange listings (including CoinsMarkets, which I discussed earlier), and it’s hard to tell if it’s simply an earlier iteration of the same scam by the same people, or if the scammers behind DIVVY simply built off of NUMUS’s work. Looking back at the likely early origin of the code,, also reveals something interesting: This is the 3rd post in NovaCoin’s announcement thread. It’s hard to tell how deep this goes. I'm pretty sure I've only seen a tiny glimpse of the bigger picture.
There are many more creative methods of scamming listed in. Hard to say how many scam coins have taken advantage of CoinsMarkets’ low barriers for entry to get listed there. Or how many of the PoS coins on the list are there only to prey on people caught up in the staking hype. It’s hard to even definitively call them scams, since their existence and value aren’t irrevocably tied to their developers. It’s also hard to do your own research, but that seems to be the only way to avoid being taken advantage of in this wild unregulated market.