Why you can't buy the bounty...

Discussion of the 1,000 Timekoin bounty competition.
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koinmaster
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Joined: Mon Jun 18, 2012 8:07 pm

Why you can't buy the bounty...

Post by koinmaster »

I thought this will come up eventually, might as well have a topic for it.

I am sure someone will come here and spout about how they can simply rent some server somewhere, hundreds, thousands maybe? Take those and then claim the 1 million bounty overnight, next week, next month, whatever.

So, when I get the time, I will just make a spreadsheet or chart or something here to show just what it would take in both terms of machines, keeping them online, estimated cost, etc to truly create a million timekoins without having to find a weakness or exploit in timekoin.

If I can create a detailed enough report, maybe it can be added to the bounty page or here. :)
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joanofarc
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Re: Why you can't buy the bounty...

Post by joanofarc »

I would like to see it. I am curious how much it would cost to churn out 1 million timekoins as fast as possible. Seems like it should be easy to just rent a server farm and by next week you have a million, but I think the currency creation has been a bit better planned out.
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koinmaster
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Re: Why you can't buy the bounty...

Post by koinmaster »

Here it is!

I used the election calendar to plan out a perfect generation route, where every server is elected, stays working for months without a glitch and money is no object when it comes to how much you need to speed to make it happen. In the end, it took 280 servers 50 days to reach the 1 million mark. At the cheapest server rental I could find online that had the correct specs to work (forgot what it was now because I looked through about a 100 places), it would cost $16,794.40 to win the $10,000 bounty!

So if you have 2 months of your life to dedicate to this and want to turn a quick profit, you need only spend twice as much to reach it! Brave on you hackers, I know they can reach this goal to show the security bugs the bounty was meant for!! :P
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Mass Servers Generate.xls
Perfect Server Currency Generation
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Smarty
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Re: Why you can't buy the bounty...

Post by Smarty »

Sweet! All I need to do is offer server hosting for half price and lure in the people thinking they will win! :lol: :lol: Win win for me :D
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joanofarc
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Re: Why you can't buy the bounty...

Post by joanofarc »

Wow it would be a full time job really. Maybe some hosting place would cut you a deal on renting that many servers, maybe get the cost down to the sub $5000 a month range?
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Smarty
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Re: Why you can't buy the bounty...

Post by Smarty »

Even if you can find a low enough price to get it below the sub 10,000 range, those servers are not going to configure and run themselves. Who is going to babysit them for months? What happens if there is an outage with any of them?
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koinmaster
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Re: Why you can't buy the bounty...

Post by koinmaster »

I found one that offered servers for cheap (like 9.99 a month) but then charged a setup fee and some other fees, tax, etc that pushed it back up into the $20 range, kind of defeating the point.
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joanofarc
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Re: Why you can't buy the bounty...

Post by joanofarc »

You could buy 280 raspberry pi right? That's only $9,800 plus shipping, tax, err never-mind that ends up being too much also. Also, where would you get 280 IPs for less than a thousand a month anyway? :evil:
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Smarty
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Re: Why you can't buy the bounty...

Post by Smarty »

A business account from an ISP can get 256 block of IPs for about $800 a month where I am. 8-)
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koinmaster
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Re: Why you can't buy the bounty...

Post by koinmaster »

You do realize that running hundreds of real servers does not really count as an exploit or hack right? That is another thing people do not seem to realize. :lol:
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