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Title: Why all these coins have low starting difficulties Post by: xan_The_Dragon on May 29, 2013, 12:08:39 AM 2 reasons
premine and ease of mining genesis blocks Title: Re: Why all these coins have low starting difficulties Post by: tytanick on May 29, 2013, 12:21:16 AM 2 reasons premine and ease of mining genesis blocks premine is before releasing FAST mining is the answer :) Title: Re: Why all these coins have low starting difficulties Post by: Mr.V on May 29, 2013, 12:38:18 AM I think its because it hard to get through the genesis block at diff 1.
Title: Re: Why all these coins have low starting difficulties Post by: noelmal on May 29, 2013, 12:39:16 AM to help newbie and solo miners ;)
Title: Re: Why all these coins have low starting difficulties Post by: erk on May 29, 2013, 12:49:13 AM Because the devs are too slack to find the spot in the code to change.
Title: Re: Why all these coins have low starting difficulties Post by: Hazard on May 29, 2013, 12:54:29 AM Because the devs are too slack to find the spot in the code to change. False.The genesis block creation tool is complete garbage and would take literally forever to find a genesis block of reasonable difficulty. Title: Re: Why all these coins have low starting difficulties Post by: Hydroponica on May 29, 2013, 12:54:32 AM A better question, is, why are people mining these coins?
Title: Re: Why all these coins have low starting difficulties Post by: Hydroponica on May 29, 2013, 12:57:38 AM Because the devs are too slack to find the spot in the code to change. False.The genesis block creation tool is complete garbage and would take literally forever to find a genesis block of reasonable difficulty. A little off topic, can we possible see a list of the coins your responsible for? Title: Re: Why all these coins have low starting difficulties Post by: Hazard on May 29, 2013, 01:00:49 AM Because the devs are too slack to find the spot in the code to change. False.The genesis block creation tool is complete garbage and would take literally forever to find a genesis block of reasonable difficulty. A little off topic, can we possible see a list of the coins your responsible for? Title: Re: Why all these coins have low starting difficulties Post by: Hydroponica on May 29, 2013, 01:13:39 AM Because the devs are too slack to find the spot in the code to change. False.The genesis block creation tool is complete garbage and would take literally forever to find a genesis block of reasonable difficulty. A little off topic, can we possible see a list of the coins your responsible for? Yeah, I thought you might say that. Well, I'm sure your making a nice profit. I wish I could program lol Title: Re: Why all these coins have low starting difficulties Post by: spoid on May 29, 2013, 01:36:23 AM the right way to do it would be to set REALLY low starting block rewards - everybody who did this before was still setting it high enough to rake in all the blocks and get filthy rich themselves - remember that the creators most likely have the best ping to the first nodes.
VERY LOW starting block rewards (up until 8000 blocks or so) would give low incentive to mine and probably encourage 51% attacks. The community would have to mine it anyway out of the belief that a fair start is possible. By the time rewards became useful, a few pools would be up already. Someone should start up a shakezula clone with: -fast enough block reward to not be called slow -nice logo -announce it a few days ahead -release on a saturday to sunday time where all continents can be awake -nice logo, nice name, nice twitter bootstrapped / copycat website -send some pool guys the ADDRESS and NSUBSIDY values beforehand -provide all binaries at release, from non-shitty hosters with mirrors -don't fucking miss your announced date -VERY low initial block rewards (1-10% of target block reward through the first few thousand blocks) voilą, that's all it takes to get a shot at a truly fair start where the dev doesn't get filthy rich, nobody tries it out of greed, I don't have enough time this week but if the coin releases stay INCREDIBLY SHITTY as is I might still have enough time later... Title: Re: Why all these coins have low starting difficulties Post by: bb999 on May 29, 2013, 01:40:09 AM A better question, is, why are people mining these coins? 1) If you can generate alternative coins profitably and convert them into bitcoins then it makes sense to mine them. 2) Some people may think other coin variations may be able to compete down the road. I don't personally but there are two possibilities Title: Re: Why all these coins have low starting difficulties Post by: Hazard on May 29, 2013, 01:40:34 AM the right way to do it would be to set REALLY low starting block rewards - everybody who did this before was still setting it high enough to rake in all the blocks and get filthy rich themselves - remember that the creators most likely have the best ping to the first nodes. Stay tuned... ;)VERY LOW starting block rewards (up until 8000 blocks or so) would give low incentive to mine and probably encourage 51% attacks. The community would have to mine it anyway out of the belief that a fair start is possible. By the time rewards became useful, a few pools would be up already. Someone should start up a shakezula clone with: -fast enough block reward to not be called slow -nice logo -announce it a few days ahead -release on a saturday to sunday time where all continents can be awake -nice logo, nice name, nice twitter bootstrapped / copycat website -send some pool guys the ADDRESS and NSUBSIDY values beforehand -provide all binaries at release, from non-shitty hosters with mirrors -don't fucking miss your announced date -VERY low initial block rewards (1-10% of target block reward through the first few thousand blocks) voilą, that's all it takes to get a shot at a truly fair start where the dev doesn't get filthy rich, nobody tries it out of greed, I don't have enough time this week but if the coin releases stay INCREDIBLY SHITTY as is I might still have enough time later... Title: Re: Why all these coins have low starting difficulties Post by: ondratra on May 29, 2013, 04:12:11 PM 2 reasons premine and ease of mining genesis blocks imho those 2 reasons are on named by two different words :D |