Large hash shift to btc fractal what does it mean

[philipma1957]

I picked number 4 it will go on for a while.

there is a huge boost for mining at nicehash 1.3btc  per eh vs 0.69 btc per eh as of 2 days agp.

but these never seem to last.

[paid2]

I picked number 4 it will go on for a while.

there is a huge boost for mining at nicehash 1.3btc  per eh vs 0.69 btc per eh as of 2 days agp.

but these never seem to last.

Same as you, I made the same vote.

I'm sure this hype will die down as quickly as it came...

"Fractal Bitcoin" launched their mainnet a few hours ago.
It appears to be a hastily cloned copy of Bitcoin Core v24.0.1, with a few consensus tweaks and some code ripped off of namecoin and bcash.
The chain also started with a hefty and immediately spendable 50% premine.

pic.twitter.com/usqEcCsMH6
— mononaut (tx/acc) (@mononautical) September 9, 2024

[Stompix]

Premined? Yup!
Fake transactions? Yup!
https://explorer.unisat.io/fractal-mainnet/address/bc1plhz9wf0desgz8t32xm67vay9hgdmrnwzjzujgg0k9883cfxxgkzs20qfd5
Transactionv1092585
Yup, one address transacted 1 million times in two days!

They claim 17 exa but I honestly doubt it, they would need 600k a day to pay better those miners than what BTC does.

[philipma1957]

Premined? Yup!
Fake transactions? Yup!
https://explorer.unisat.io/fractal-mainnet/address/bc1plhz9wf0desgz8t32xm67vay9hgdmrnwzjzujgg0k9883cfxxgkzs20qfd5
Transactionv1092585
Yup, one address transacted 1 million times in two days!

They claim 17 exa but I honestly doubt it, they would need 600k a day to pay better those miners than what BTC does.

They are flooding nicehash rentals.

Solid payouts but every time this gets done it is not for long 30 60 90 days.at most.

I believe it was done with 3 or 4 coins and of course with some nfts

[ABCbits]

Aside from what other member said, they also claim 30 second block time which raise concern about stale or orphan block. Although what i hate the most is the fact they re-using Bitcoin address format. It's just matter of time before someone sending coin/token on wrong network.

[NotATether]

Premined? Yup!
Fake transactions? Yup!
https://explorer.unisat.io/fractal-mainnet/address/bc1plhz9wf0desgz8t32xm67vay9hgdmrnwzjzujgg0k9883cfxxgkzs20qfd5
Transactionv1092585
Yup, one address transacted 1 million times in two days!

They claim 17 exa but I honestly doubt it, they would need 600k a day to pay better those miners than what BTC does.

Can someone enlighten me on what the hell this fork is supposed to be about and what it's trying to solve?

Because if this is a fork of Bitcoin, the only thing I'd be interested in is do they have any fork-coins for me to claim? 

Anyway, I think miners who are attempting to mine this coin are wasting their time. Clearly this thing will not be developed further in any meaningful way, so they are better off sticking with BTC, LTC and DOGE.

[Stompix]

Can someone enlighten me on what the hell this fork is supposed to be about and what it's trying to solve?

We talk about claims?
Well, it's a sidechain faster with more capacity, it presents a new opportunity since fewer are mined (ignore the premine)m is made for stuff like ordinals and smart contracts but due to the merged mining, it has nearly the same security as bitcoin.
Again, on paper!

Aside from what other member said, they also claim 30 second block time which raise concern about stale or orphan block.

That would be the last concern, I mean common, it's 2024, and I'm getting 300Mbps upload on my laptop 

Anyhow, is this the one?
https://coinmarketcap.com/currencies/fractal-bitcoin/
at $28 but faster block, bigger reward, it's 10k per 10 minutes? That would make it like 4% of Btc, right?

[ABCbits]

Aside from what other member said, they also claim 30 second block time which raise concern about stale or orphan block.

That would be the last concern, I mean common, it's 2024, and I'm getting 300Mbps upload on my laptop 

The concern is more than internet bandwidth. There are other things such as,
1. Higher chance multiple miner mine block at nearly same time.
2. Time to verify and propagate the block to whole network, which affected by CPU speed and internet latency (not bandwidth).

But i definitely agree it's last or lower concern.

Anyhow, is this the one?
https://coinmarketcap.com/currencies/fractal-bitcoin/

Yes.

at $28 but faster block, bigger reward, it's 10k per 10 minutes? That would make it like 4% of Btc, right?

My rough calculation (excluding Fractal merge mining) shows it's about 7.5%.

Code: [Select]

Fractal: $28 x 25 FB * 20 (total blocks mined in 10 minutes) = $14000
Bitcoin: $60000  x 3.125 BTC = $187500

Ratio: $14000 / $187500 = 0.0746... (or about 7.46%)


[Stompix]

Aside from what other member said, they also claim 30 second block time which raise concern about stale or orphan block.

That would be the last concern, I mean common, it's 2024, and I'm getting 300Mbps upload on my laptop 

The concern is more than internet bandwidth. There are other things such as,
1. Higher chance multiple miner mine block at nearly same time.
2. Time to verify and propagate the block to whole network, which affected by CPU speed and internet latency (not bandwidth).

But i definitely agree it's last or lower concern.

Doge has been doing 1 minute blocks for a decade and the chain had no hiccups, doubling the capacity with the tech advance from 2013 is nothing, this is just small blocks talk, swear to god, we will reach Pluto and video stream live 256k from our colony there and blocks would still be a "problem".

My rough calculation (excluding Fractal merge mining) shows it's about 7.5%.

Code: [Select]

Fractal: $28 x 25 FB * 20 (total blocks mined in 10 minutes) = $14000
Bitcoin: $60000  x 3.125 BTC = $187500

Ratio: $14000 / $187500 = 0.0746... (or about 7.46%)


I don't even know what kind of math I was doing there but I think I went totally wrong on it, two days ago this thing was having almost the same fees as in reward,
Total fees 21.38293474 FB $579.62 Miner SpiderPool
but I think I multiplied something else wrong.

Still quite funny, this is their hashrate (I assume)
Permissionless Mining 29.246EH/s, so still ~4%?
Nevermind, I got the split reward wrong!

[philipma1957]

Aside from what other member said, they also claim 30 second block time which raise concern about stale or orphan block. Although what i hate the most is the fact they re-using Bitcoin address format. It's just matter of time before someone sending coin/token on wrong network.

Nicehash picked up even m ore hashrate.

So a lot of money is being spent on this coin.

I will watch it more closely to see if a drop off happens.

[Stompix]

Nicehash picked up even m ore hashrate.
So a lot of money is being spent on this coin.

Somebody is hyping this lately, I don't understand where the pockets to keep this overpaid hahsrate, the money printing from the coins, the hoard of tweets likes and posts about it is coming from, and the coin has actually gained in $, no dump yet.
I would say a large pool is behind this but taking this many risks?

Anyhow despite everything it seems like indeed hashrate is being pulled from BTC towards this.

[ABCbits]

Nicehash picked up even m ore hashrate.
So a lot of money is being spent on this coin.

Somebody is hyping this lately, I don't understand where the pockets to keep this overpaid hahsrate, the money printing from the coins, the hoard of tweets likes and posts about it is coming from, and the coin has actually gained in $, no dump yet.
I would say a large pool is behind this but taking this many risks?

Looking at all time statistic on "Permissionless Mining" section from https://explorer.unisat.io/fractal-mainnet/mining, i doubt it's the case. There are 4 pool with hashrate ranging from 3.565EH/s (15.03%) to 7.313EH/s (30.84%).

[Lucius]

There is a topic (or at least there was) on BTT about this "phenomenon", but it didn't really get any attention, and I thought it was about something not worth mentioning. According to everything that can be read in this topic, this is another beautifully packaged nonsense, and if nothing else, it did not cause the increase in fees - which is the only good thing in this story.

+1 for all informative posts.

[Stompix]

Looking at all time statistic on "Permissionless Mining" section from https://explorer.unisat.io/fractal-mainnet/mining, i doubt it's the case. There are 4 pool with hashrate ranging from 3.565EH/s (15.03%) to 7.313EH/s (30.84%).

Well, F2pool is one of them but those labels mean nothing to me lately.
Despite hating conspiracy theories and stuff as much as one person can I truly believe the big guys are faking their true hashing power, last time when Texas was shutting down Foundry which is all US based took a hit that was nowhere near what it should have been, so I guess they are posting some power elsewhere to hide they have more than 30%.

Same here, who knows who is buying hash rate or who might be redirecting some disguised miners?
Crunching the numbers it's someone with big pockets, so if not a farm at least someone with enough $ to convince some to play along!

[philipma1957]

Not sure what is going on but nicehash is over paying a lot. Maybe 0.9 an eh should be about 0.685 I will check it again.


At the moment 0.81 is payout and 0.685 is what the norm would be.