Why would the markets accept that?
I can't answer that. I try not second guess the markets, just observe. It seems the original coin is getting more and more uptake, for whatever reason. Clones always have an uphill battle, as I'm sure you know. Crypto distribution is absurdly bad (most, even big ones like LTC, have ~50% of coins held in the top 100 wallets). And yet, LTC is the most successful alt by far... Don't underestimate "instamining" stigma - it annihilated Quark and continues to plague DRK. A currency (exchange medium) is no good if many people don't want anything to do with it. I don't disagree necessarily, like I said I'm just observing. If this coin turns out not to work the technology is out there and can be used for something else.
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Has there been anything new about this coin? Has it been put on hold or is it still schedule for release. Also a name?
I'm starting to doubt there is really a good reason for this besides people wanting to pump and dump. The original is starting to get more and more traction in the community (beyond what may or may not exist on the darknet). It will be hard for a clone to overcome that lead. If anything I'd propose a bitcoin spin-off clone instead. https://bitcointalk.org/index.php?topic=563972.0 Better chance of adoption to overtake the original, maybe.
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I'm not against full pos given out to people, however just need to give it out to more than 11 people. Can't be that hard to get some method of distribution that does way better than that.
Right here: https://bitcointalk.org/index.php?topic=563972.0I may even do this myself (yes I can code Java), but I'm just busy with a lot of different things right now.
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You have to admit, the last 24 hours have been interesting.
Another 40% in the next 3 hours would be nice...Go BTC
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Sent a payment of .4
Received. PM sent.
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Cache is by far the largest part of the die of any modern CPU.
Not by far. Cache area is usually close in size to Core area. Yes I see that is the case. Thank you for the correction. My understanding was out of date or just wrong.
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There is no "most expensive part of the CPU". Cost is dominated by die size and fault rate. It's true that 37.5MB takes a lot of die space, so that certainly contributes to cost.
Cache is by far the largest part of the die of any modern CPU. I don't know how that contributes to failure rate though, since individual bad cache cells might not render the die unusable.
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If the hash rate is such, or the difficulty is such, or whatever, where the expected time to block becomes 4 days, 5 days, longer... doesn't that equate to "wasted" work mining because there are days gone by without being counted?
No. Think of mining like flipping 40 coins and trying to get all heads. Getting a share when the pool doesn't get a block is like flipping 40 coins and getting say 38 or 39 heads. Close but no cigar. This is not wasted work, just a near miss. It feels like it because your brain plays tricks on you and you feel that because you almost accomplished the required task, you "should" be rewarded. But no, it doesn't work that way.
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The thing is, while variance may average out over the long term, that only matters if difficulty remains the same. If you think that I'm wrong, let me offer you a scenario. Hypothetically, let's say that based on current pool hashrate and network difficulty, we can expect one block per day. I'll offer you a choice. You can get three months of double the expected block success (two blocks per day initially), followed by three months of zero payouts. OR, you can get three months of zero payouts, followed by three months of double the expected success rate.
The naive answer is that both will average out to the same thing - and that answer is correct so long as the pool maintains the same hashrate and block difficulty throughout the six months. In reality, even if we hold the pool hashrate constant over six months, your total payouts with the two options will be radically different due to the increasing difficulty rate. The double payouts followed by a dry spell will earn much more than a dry spell followed by double payouts, simply because you're getting paid when difficulty is lower - thus more blocks are found during a given time period.
Sigh. I'm getting so tired of arguing with math fallacies. So I won't.
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if he has LTC to offer as collateral why would he need a loan?
Because he doesn't want to sell his LTC just to satisfy a short term liquidity issue.
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I was planning on putting the new Antminer I'm getting soon on p2pool and the 60 somewhere else. Do you think I should divide them up differently?
I can't tell you how to set your priorities of mining. My suggestion was just a way to reduce variance while still helping p2pool and the decentralization of the overall bitcoin network. If you want more steady payouts, put more on the bigger pools, if you want to help decentralization, put more on the smaller pools (and especially p2pool). But either way you can still accomplish both goals to a large extent.
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I'm sold out for now. OP please remove my offer from the book.
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Just as an aside, you guys may be surprised to hear this, but I was fired from my job of 10 years at a hospital last summer and I live on Bitcoin only. I am not looking just to make a bunch of money, I am simply looking to survive. I am done (hopefully) with working for "the man." I'm willing to listen, learn and do what is best for p2pool - not my profits. I just want a steady income ($1736/mo) to live on! That honestly folks is all I want! And some weeks it gets scary because my little payments don't amount to much. My problem is, and the people like me out there who are mining, we end up switching back to Slush for the dependable $25-$35 payouts from say 300-500 GH/s, because I receive them fairly rapidly. I do this out of necessity. Anyone know of a place where I'd be better of parking my miners for a stable $1700/mo? I'm not sure, that's why I'm on here learning & talking. I'm in this for the long haul, my name is Marlon, so if any other serious miners out there wanna talk, I'm here! I have one running p2pool node now and another node on a Win8 computer in the other room. I've got 2 more miners on the way but my power bill is now about $175-$250/mo, whereas before it was rarely over $150. So i'm paying a bit more in power, but it is manageable even with no job! I make enough to cover the bills, but yeah I guess we are all trying mining out for different reasons. I am not overtly suspicious of others, I just don't trust the NSA or government because they obviously hate democracy & don't care about us. I just wanna make enough to live on here (not extra profits unless it's just a nice bonus). So I'm here, if anyone comes up with ideas, I can implement them on my end, maybe we can do something to change some things about this situation. Maybe we won't be able to, but I'm gonna try!!
Assuming you have more than one miner, divide up your hash rate. Keep some of it on p2pool and get what you get, while some of it is on lower variance pools for steady payouts.
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The simple fact is that most miners are a combination of lazy, fickle, uninformed and just all round suspicious and seem to be unable to understand payout schemes, variance and luck no matter how much it's explained to them, and their care factor for things like security of the network, distributing the hashrate etc. etc. just isn't high enough to offset the fact that the primary thing they care about is profits. Then they do pseudo experiments ignoring all the things I said above and show a better payout at some random other pool for that day and they're lost for good.
What he said, especially the part I bolded.
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Can nobody clone this kind of coin and do a reasonable distribution to more than a handful of people?
How would you do it? I gave one option, which distributes to 500+ people and could be launched in just a day or three. It's not fair - nothing is - but it wouldn't be dominated by whales who could dump and destroy your wealth at any time they like. Bitcoin spin off has huge potential here. See my previous post on this thread.
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Wow... Is everyone jumping ship? Hash rate is down to about 110TH/s...
Pretty much. I pointed out before that 5+ days rounds are not sustainable, and we're only a few days from another ~20% difficulty jump. It is only a matter of time before we see 7+ day rounds or worse. RIP p2pool. As of now, 4/17... 12.5% increase. I've found this estimate to be pretty reliable, which shows 17.4% now: https://bitcoinwisdom.com/bitcoin/difficulty Of course we will find out in a few days. Whatever it is, it won't be good for p2pool.
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Wow... Is everyone jumping ship? Hash rate is down to about 110TH/s...
Pretty much. I pointed out before that 5+ days rounds are not sustainable, and we're only a few days from another ~20% difficulty jump. It is only a matter of time before we see 7+ day rounds or worse. RIP p2pool.
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A little over 2 hours left
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