I just read this on one of the pools I mine on.
FTC Bounty - The FTC developers are giving a bounty of up to 10BTC to finders of certain FTC blocks, YES, we will participate and pass the finders FTC address to them to receive the bounty. The user who finds will get the bounty
Thats a pretty decent bounty! Hell yeah I am going to mine for that!!!
Which pool? Link? Details? |
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I guess he is trying to sap hashrate from WDC to lower the difficulty there? |
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 With graphics it's always worth trying to do something a little more professional looking. Here's a couple of minutes photoshop. haha, good analogy to BiteCoin ... |
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Wallet client shows
"WARNING: Checkpoint is too old. Wait for block chain to download, or notify developers"
I sent a transaction in this state will it be preserved and processed in the future or have I lost my coins?
Edit: I should add I'm not the only person experiencing this issue.
I believe this happens for PPCoin as well: https://bitcointalk.org/index.php?topic=124369.msg1337384#msg1337384It is simply a warning that the last checkpoint is >10 days old and that it needs to download the whole block chain. I'm not sure how they handle that for PPCoin. Adding a checkpoint every 10 days seems a bit excessive? |
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I'll keep this short and sweet. There are now so many alt-coins that it has become the same thing as hyperinflation. The value of alt-coins is trending towards zero. Great job guys!  Does anybody think this might be the plot of some BTC fanatics that want to hurt altcoins in general? Like some core dev of BTC releasing a few altcoins with a second forum id? Most new coins were released by new forum members and I can only speculate these are secondary ids of people longer in the game. |
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Lol, I've done day trading in the past (3 years straight while working full time) and made off well on it. Took too much time though. Stocks and coins aren't comparable to me. Stocks don't usually get announced and go belly up in the same week haha
Facebook was close to it, though  |
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I suspect the only reason to start a new coin, with no attempt to innovate, is as another pump'n'dump.
Yes, plus YAC is listed already and it might confuse possible users if there is a second one. A relaunch only makes sense if there is a need to change the concept. Considering the amount of resources I had to bring to bear to mine less than people with a single PC at launch time?
If you are talking about me: don't worry. I haven't mined that much with my i7. I was also extremely lucky. I opened the browser in the morning and thought, hey, why not try to compile sth. in Linux? I just had installed VirtualBox a day ago... edit: I have mined far less YACs than people bought on the exchange. And you are absolutely right: it is and was very easy to get a significant number of YACs on the exchange. The money supply of YAC is worth ~1200 BTC right now. Maybe that's a fair price for a successful launch and listing at an exchange and some developers + pools. I am also happy to contribute, but I do not have much time. |
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I would like someone to explain the new YACoin. it uses a new hashing algorithm - a variation on scrypt, which is claimed to be less friendly to GPU's. It make the n parameter dynamic. n increases over time. the n parameter has to do with memory allocation I believe, and as n increases, then memory requirement increases. I don't know how large n will grow, but it seems to be GPU's are not at a disadvantage. they have comparable cache memory and huge amounts of Dram.
The only reason it is a "CPU" coin that I can tell is because at its release since it used new algo. And there was not a OpenCl / CUDA miner available with the new algorithm implemented so that only people could mine with cpus.
Also it got off to a bad start because difficulty was low and it was abused by FPGA... so it is basically a premine situation which might make adopters wary.
GPUs work with many parallel cores and threads. The memory consumption of each thread increases as N increases. There will be a point when GPU computing hits a memory bound for mining YAC such that you cannot saturate all threads anymore. Alternatively you would have to tweak scrypt to use more compute cycles instead of memory and get less hashes per clock. I doubt we have reached this point yet, though. The premine is unfortunate, but less of a problem than the general decline in credibility altcoins have suffered from lately. Why would you buy or trade an altcoin if there is a new release every day? I fear this might even be a plot by BTC-fundamentalists to harm LTC. Most releases were done by totally new forum members. |
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I do not get what is the matter with people claiming it is like a scam, that it is moraly bad or similar things.
Any "successfull trading" is successful only because it takes money from someone else anyway.
I am sure you did not read my post carefully: https://bitcointalk.org/index.php?topic=196690.msg2107320#msg2107320. Any organized market manipulation creates false or misleading prices. The market is not efficient anymore and potential investors lose trust in its fairness and value. This hurts the market as a whole and is pretty dangerous for (alt)coins, as their value is entirely based on trust. Hence coins would possibly gain in value if they were regulated. I do not care enough if you kill (alt)coins with these practices. But I do think that strict punishment and tough jail sentences are in order for regulated markets as happened in this case: http://ca.finance.yahoo.com/news/ex-fund-manager-sentenced-prison-insider-trading-211424063.html |
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Thanks to whoever dumped 72k YAC bag on Bter recently and dropped price to 0.00035, got some cheap YAC there. Next time you dump huge bag try to make price drop to
or bellow 0.0003 so I can get more YAC for even cheaper.
Don't look at me. Wasnt me. I do fear/believe that pocopoco dumps his coins. It'd be interesting to know how much the dev mined and how much people in the forum mined. |
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Did you do the calculations? Probably not. I'll be very conservative in my calculcation. Feel free to correct me.
I believe a Core i5 3570k makes >200kH/s now and has a TDP of 77W. Running it a day uses up 1.85kWh and makes you >8 YAC. At an exchange rate of 0.0004 BTC/YAC you make 0.3 USD/day and you break even with a power cost <0.18ct/kWh.
Yes, you don't make much, but you also don't waste money mining for YAC.
Which part of those calculations take into account the conversion efficiency of the switching voltage regulators for the CPU and RAM on the motherboard, and the conversion efficiency of the PC's power supply? And the increased power consumption of the RAM when memory I/O is occurring? nitpicking about details again?  Last time I was off by 1% with my guesstimate... it's fun to discuss though. You are right that I should not advise anybody to mine. The guesses were based on (one of) the most efficient consumer processor available at the moment. And I personally don't bother mining. The answer to your questions: I deemed these factors as negligible as 1) TDP is usually higher than the CPU power draw and I didn't subtract idle power draw 2) RAM is negligible (5W?) 3) if you don't have a Gold power supply (90% efficiency) you are doing it wrong. But quite frankly, these are all guesses. What I do know is the power delta at the power socket of a Core i7 3930k, 16GB RAM system when mining YAC with 10 threads: 140W when the CPU is overclocked to 3.8GHz and it gets 320kH/s. The TDP is 130W, so whole system power delta is +10% of TDP when overclocked. Whilst this would possibly point to a non-conservative guesstimate, you will agree that an Ivy Bridge i5 3570k is more energy efficient and faster per clock than my power hog. Another good point would have been: what about the increased heat in the case (if not open) and hence aging of components? What about the loss of hash rate in GPU mining if you are not careful and saturate the CPU? |
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It makes 0 sense to have a bunch of 7xxx cards mining LTC with Idle cpus which could generate even $.10 per month.
Tell you what all mighty, give me and everyone else using our spare cpu cycles $1 a month and we'll stop? No? not a good deal?
If the added load on the CPUs cost more than they rake in, they are losing you money not gaining money, so unless you are just making sure you get the max electricity your rent includes, or are stealing the use of other people's CPUs, it is not always economical to run the CPUs mining something compared to letting them idle. Did you do the calculations? Probably not. I'll be very conservative in my calculcation. Feel free to correct me. I believe a Core i5 3570k makes >200kH/s now and has a TDP of 77W. Running it a day uses up 1.85kWh and makes you >8 YAC. At an exchange rate of 0.0004 BTC/YAC you make 0.3 USD/day and you break even with a power cost <0.18ct/kWh. Yes, you don't make much, but you also don't waste money mining for YAC. GeistGeld is fast too, 15 second blocks, and it is secured by merged mining so is much more affordable to mine.
How do I merge mine GeistGeld? I am very interested. So far I am merge mining NMC, DVC, IXC and whatever else at bitparking, but I don't see a pool that throws GeistGeld into the mix. |
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Did you crossfire them? If so, don't. It will increase mem usage.
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For No.1 is there an easy way to keep it cool (Using a laptop)
Also what is a good pool to use?
You can also go to power options in windows 7/8 (power options -> [...] change power plan) and set the max CPU power (or however that is called) to 70%. This limits the max freq of your CPU and lowers the max voltage, greatly reducing heat. Regarding mining, there is also a p2pool online http://pool.bitcn.org:8336/static/. |
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Do yourself a favor and go read a book about currency markets and basic business practices. Have you ever heard of the Euro? Do you have any idea why they created it? I will give you a quick answer (one of many, but this reason is relevant to the present discussion): because Europe is millions of people of different cultures living very close together and having a dozen freaking currencies milling about was a TOTAL PAIN IN THE ASS. So they consolidated all that mess into 1 currency to make things easier.
Muahahaha, a professional economist talking, eh? The Euro was introduced to eventually force a political and fiscal integration of Europe into a super-state. And because politicians are full of crap. There was no solid economic reasoning for introducing the Euro and many economists warned and still warn about the risks of instability that the Euro causes. Transferring this reasoning to altcoins: an altcoin is viable if it is different enough from other coins (e.g. confirms are faster) such that it could have a different use and market. Most of the new ones are worthless. As I noted, there were a myriad of reasons for the Euro and I won't get into the politics of it, but to say "there was no solid economic reasoning" is a bit dismissive. The economic reasons were reduced transaction costs across states and easier cross border investment and trade. Theories dealing with currency aggregation in regional areas date back to the 1960's. The Euro may be unstable and/or a stupid idea in practice, but there does exist valid theory behind it. And as a bonus, when fat, rich Americans travel to Europe they can cross borders will-nilly and spend their Euros like they never even crossed state lines. Just imagine what economics in the US would be if every state used its own currency. As far as altcoins go, sure they may be viable if they are different enough, but viability does not mean they will ever be worth "real" money or possess any trade value. Well, I am living in Europe btw. Introducing one currency eases cross-border investments and trade. That is the reason why french banks were hyperventilating zombies and needed to be propped up by politicians. I don't think this can be considered a "positive" aspect of the Euro. The extra money Americans leave here is negligible. I understand that you are very biased towards BTC. That is your choice. I do not know what you consider real money but I can exchange LTC for USD at a current rate of 2.88 USD/LTC. That is pretty real to me. I think you are also afraid of a new revolutionary altcoin coming out that improves BTC significantly. This would cause BTC to lose value. |
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YAC is pretty much dead at this point
Read my previous post. The good thing about YAC is that it can hibernate easily at a relatively low cost. YAC is more alive than FTC. |
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WindMaster proved that he is making a lot of YAC but have no clue whatsoever why dumping his bags works directly against him.
Hmm, I might be overly skeptical, but I didn't see a proof yet of his mining power. If he mined a lot it must have been solo. He is not one of the top-30 contributors on http://yac.dontmine.me/. 18:51:15 "moneysupply" : 2705391.28305000, 19:53:13 "moneysupply" : 2706811.00305000, Around 1500 YAC generated in 1 hour. That much was generated in like 30 seconds at the launch due to few seconds block time and 100 YAC per block reward. Be stupid, go to exchange and sell your YAC at 0.005 or less, the same price YAC started selling around here not much longer after launch, then complain it is not profitable anymore. I only partially agree. The value (of YAC) does not majorly depend on its coin generation rate at this point. It helps, but that won't generate value by itself. 1500 YAC are roughly 100$, so the YAC network currently requires 2400$/day to maintain a stable price and the whole money supply of YAC coins is valued at 180k$. FTC generates 115kFTC/day = 16800$/day and is valued at 860k$. LTC generates 28800LTC/day = 86k$/day and is valued at 53 Mio USD. Of course there is much more trust and interest in LTC. The latter point is crucial: people will only invest and be interested in YAC if they trust that their investment is safe, i.e. 1) the codebase is bug-free and 2) the network is robust to 51% attacks and drops in hash rate. I find the last point an important and interesting one. YAC does not compete with LTC for hash rate and hence won't die a Feathercoin death by coin hoppers. |
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I guess this is the distribution phase when people owning lots of YACs dump them to other people/traders. These new traders will have the current price as a reference price and are more likely to wait for better prices to sell.
As total YAC supply is roughly 2.6Mio and as we see 100.000 YAC buys in the order book I wonder how long this distribution phase will last.
To be honest, I am surprised at the size of the buy orders. I wonder about their motives. I'd love to see sb. buying up most of the free coin supply (e.g. 300k YAC or so?) and then invest some serious developer time to put YAC on a more solid ground. First make sure the codebase is solid, fix possible bugs and explain the difficulty adjustment algo. This will provide the necessary confidence for other potential miners/investors. Then maybe create a difficulty and profitability calc website, price and difficulty charts, block explorer etc.
But I have to admit, I am biased and own some YAC.
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