Bitcoin Forum

Thought I'd give some solo Novacoin mining a go last night just for kicks. I wanted to experiment with solo mining and liked the lower difficulty of Novacoin with my two 7950's, so gave it a whorl.

Didn't have much luck. Does anyone mine NVC anymore at all? The difficulty in cgminer showed as something ridiculous. I think it was 43m !

Then I tried to set up a LP with a pool. Only to find that every NVC pool is pretty much gone.

What's up with is coin?  So basically it was just a big pump and dump scam right?

Is anyone still mining it? As far as I can tell it pretty much only exists as a speculative sorta penny stock at BTC-E ... is that a correct appraisal?  I know its widely considered a shady coin so surprised it is still around at all.

http://nvc.khore.org/

This is the only public pool, that still works, and where I mine. Global hashrate is pretty minimal, since it seems most of the workers cashed out and left... At least the pool itself is well maintained and Khaos is fairly active. Also note that the true difficulty is only 48.

Ok thanks. I'll give that a go maybe for a few days.

For a coin with such a poor rep it has a surprising amount of value.

It will have more value once a certain store opens for it...  ;)

I am also interested in novacoin but I was not able to find detailed information how exactly it works. That made me also to beleave that the scam accusations may be have some truth.
PPcoin is much better described.
How much novacoins will be totally ?

2 billion, if that Read-me was still correct. Since Novacoin uses the same PoS based ideas that PPC uses, as well as Scrypt from Litecoin. You may want to ask Balthazar for more details, though.

Really there isn't a whole lot of information to be found on Novacoin.

Here's some info:
https://github.com/CryptoManiac/novacoin/wiki/FAQ

It has no hard cap limit has a 2billion limit.  But this isn't a big factor because I don't think many people expect it to last anywhere near that long.

I think they should rename it Specul-coin myself :)    

But you never know. Maybe it'll stick around who knows.

As opposed to Litecoin? Meh... May as well call them all "Specul-coins" then. Ideas need support, regardless.

Oh, and thanks for that fAQ. Was wondering how much interest it was...

We working on site currently. And also you can ask me your questions.

glendall
There are not so many pools because we focused on p2pool (http://p2pool.novaco.in/) support. The significant part of work time was dedicated to establishment of NVC p2pool.

P.S. This "accusations" was nothing more than trolling, and they simply failed at all.

Ok thanks.

Sorry to anyone if I seem hasty to judge Novacoin negatively.

After reading up on last night I didn't find much info, read some claims of some sort of shady stuff going on, and all the pools seemed offline, so that's how my opinion formed. Certainly be great if an official website & wiki were set up.

I didn't realize it was such a new coin at all either.

glendall
Of course, and I can understand this... There are some results of our faults, we dedicated too much time for the less notable things.

But anyway, it's fixable and the work is going on. ;)

P.S. Some cosmetic updates applied to FAQ page on github.

2 billions ? that's pretty much
In that case in longer term it can only decrease relative to BTC, however could remain constant(or a little bit more) compared with $.

You also need to realise that the payout for each block is only 13, compared to PPCs 400 right now...which was 600 back before it got popular.

The idea is good to save energy but the market cup is to high.
Even if you have at the moment only 13 payout/block you can have any time 600/block as it was by ppcoin.
So you can have finally  any number of coins between 82 millions and 2 billions as I understood.
And nobody knows who controls it. It's worse in this aspect as by fiat.

Huh? The market cap for NVC is tiny, so I'm not sure what you are talking about...

Is it not the same like the market cap of  ppc ?

Errr, look at dustcoin... The market cap isn't the same because there are less Novacoins in the wild. At least, I assume that's what causes the difference.