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Gridcoin Mandatory Update Released - CBR!

Well folks the day has finally come. Gridcoin's newest mandatory,, CBR is here.
Betsy is ready for showtime! is a mandatory update for all users. This means you must update your wallet before the hard fork date or you will be left behind. The hard fork is set at block 1,420,000. This is approximately 20 days from now. We expect the hard fork to occur on either November 7th or 8th. Please update before then!
The biggest change in 4.0 is, of course our new block version, v10. This brings CBR (constant block rewards) to Gridcoin. Instead of earning 1.5% APR from Proof of Stake, every block will instead be worth a static 10 GRC. This change follows network consensus through three seperate polls with the aim to increase network difficulty, and by extension, increase the strength and security of the Gridcoin blockchain.
If you wish to see resources about how to optimize your staking for CBR, please see this excellent post by core developer @jamescowens.
Download the update from GitHub here.
Linux PPAs are now updated!
The Windows MSI can be downloaded here. Checksum.
Full changelog for the 4.0 release:
Linux nodes can now stake superblocks using forwarded contracts, #1060 (@tomasbrod). 
Replace interest with constant block reward #1160 (@tomasbrod). Fork is set to trigger at block 1420000. Raise coinstake output count limit to 8 #1261 (@tomasbrod). Port of Bitcoin hash implementation #1208 (@jamescowens). Minor canges for the build documentation #1091 (@Lenni). Allow sendmany to be used without an account specified #1158 (@Foggyx420). 
Fix cpids and validcpids not returning the correct data #1233 (@Foggyx420). Fix listsinceblock not showing mined blocks to change addresses, #501 (@Foggyx420). Fix crash when raining using a locked wallet #1236 (@Foggyx420). Fix invalid stake reward/fee calculation (@jamescowens). Fix divide by zero bug in getblockstats RPC #1292 (@Foggyx420). Bypass historical bad blocks on testnet #1252 (@Quezacoatl1). Fix MacOS memorybarrier warnings #1193 (@ghost). 
Remove neuralhash from the getpeerinfo and node stats #1123 (@Foggyx420). Remove obsolete NN code #1121 (@Foggyx420). Remove (lower) Mint Limiter #1212 (@tomasbrod). 
Thank you to all our of dedicated developers for all the hard work and long nights that have gone into making this release a reality. Thank you also to all of the dedicated folks on testnet who have been so helpful in finding and helping solve critical issues before we released this massive overhaul. We couldn't have done this without your help.
submitted by barton26 to gridcoin [link] [comments]

Why are we not talking about "monetizing" the whitelist?

On the one hand, I feel like Gridcoin has found a wonderfully elegant solution to circumvent the wasteful nature of PoW secured blockchains. Getting paid for doing work with intrinsic value (scientific research); it makes so much sense, you would think it should be the basis of all economy.
On the other hand, it struggles with the same problems as all other cryptocurrencies, except for maybe the top five: there is no intrinsic value to owning Gridcoins. Money exists to be exchanged for goods and services, not just to be sold in exchange for other types of money in the future. I see only two reasons why a person with honest intentions would want to buy cryptocurrencies (again, possibly with the exception of Bitcoin and a handful of other popular coins which can nowadays be used in some stores). Perhaps they believe that the value of the coin will increase in the future (because sufficiently many other people happen to think the same way) so they can sell it and make a profit; this to me seems like just a form of gambling and can hardly be called an honest investment, unless the coin finds a way to make itself useful in the future. The other reason might be - especially for Gridcoin - out of generosity: they want to support the project and reward people participating. This is commendable, but again not a proper investment.
Neither of these motivations will appeal to a rational investor, so as long as Gridcoin keeps relying on them to sustain itself, its long-term value (and thus relevance) will keep decreasing over time. I will even be so bold to say that anyone who claims otherwise is a very optimistic thinker at best, or at worst someone who just wants to see the value of their own coins grow at the expense of some naive buyers. I do not mean this as a personal attack to anyone, and invite anyone to prove me wrong.
Now for Gridcoin, more so than for any other cryptocoin currently on the consumer market, I see a very natural solution to this problem: instead of whitelisting by poll - an overly centralised process, by the way - let researchers buy their products into the whitelist.
There are of course many practical questions to address here. Do we have an automatically calculated price depending on the amount of work in the project and the number of coins in circulation, or do we want to auction spots on the whitelist to increase value? Should we sacrifice all regulation of what kinds of projects are allowed on the whitelist, or do we still need a system to "blacklist" projects which are deemed unethical by the community? Do we keep popular BOINC projects on the whitelist if they do not want to pay for whitelisting but are very popular in the community? I am not trying to answer these questions here today, just want to open the discussion.
Perhaps I am oversimplyfing - please let me know, I am eager to learn! - but I basically see only winners in this scenario. The value and thus relevancy of Gridcoin will increase. More people will join once word gets out that they can let their computers do some science on the background and earn money (nowadays, mining GRC profitably is still possible only under optimal conditions), meaning more computing power used for good. The cost to research institutions buying computing power will be peanuts compared to buying enough powerful computers on their own to run huge amounts of calculations quickly. Provided that the demand for computational power can keep up with the supply of Gridcoin miners, this should hopefully lead to a more stable and reliable value for Gridcoin, which in turn might attract vendors to accept the coin as payment method. This last point seems like the main point of uncertainty to me: will research institutions trust the network enough to invest money in it?
What are your thoughts?
submitted by Hopkins-Levitzki to gridcoin [link] [comments]

YSK: The linux command "echo 'passphrase' | shasum" generates a valid Brainwallet key without using external applications.

Edit: There's a small error in the title. It's Sha256sum, not shasum.
It is recommended that you use this in a live CD. If you use a Live CD you can use this method even if you're a Windows user.
There is a linux command that allows you to easily generate Brainwallet keys without needing to use or trust external services. Here's the instructions:
  1. Open a terminal.
  2. Type "unset HISTFILE". This will turn off the terminal's history.
  3. Type "echo -n 'your secret phrase here' | sha256sum"
  4. Safe the output to a secure place.
Now you've got the private key to your new Brainwallet Bitcoin Address.
Import it to your favourite client, which will recalculate the corresponding public address or download a copy of and use the "Wallet details" section while offline.
Now you know both: The private key and the public address. The brain wallet can be regenerated at any point using the same command. It is the same brainwallet that would generate.
Important: You should do all this from a live CD for better security. A live CD is a new operating system that runs straight from a CD and is not affected my any malware you have on your computer.
You should also be totally disconnected from the internet. If you download a copy of bitaddress on an USB, you can then plug it in and use while using the live CD.
I recommend Lubuntu, a lightweight distribution:
Update: Use this website to calculate how strong your passphrases are against a Brute Force attack (assuming you don't use dictionary words only).
submitted by DanielTaylor to Bitcoin [link] [comments]

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How to Calculate Bitcoin Difficulty

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