I really don't know how much one can reasonably expect from a juvenile social network dedicated to "tipping" one another with worthless alt-coins. If you want to get some sort of projected idea as to future growth that might come from time and effort spent on targeting the social networks, all you'd have to do is look at other cryptos' past results in doing so. Uh, that's a big zero.Why insist on doing what's proven to be a loser for everyone. (The definition of insanity is continuing to do the same thing expecting a different outcome . . .) ------------------------------o------------------------------ If you're a short termer looking to make a quick buck, there are lot's of pump and dumps out there to choose from. If you're looking for a long term investment that will yield a great long term reward as it steadily turns into one of the few real cryptocurrencies in the world, then put your feet up and relax. ------------------------------o------------------------------ First things first - the base product: a world class coin, wallet and network. Do that and the world will beat a path to your door. Everything else is icing on the cake. ------------------------------o------------------------------ One idea for the third aspect of the base product was suggested by Kayahoga in a brainstorming session we were having on the DigiByte thread not too long ago, and if I were to invest time and energy into what at this point in time would still be too early to really call a publicity campaign, this is the direction I would move in. It would really be a fantastic way of connecting with, and bringing AidBit to, a humongous group of computer literate, already equipped, potential miners/network nodes. Check it out: I mean, even if you started with casual gamers ( which more than likely have somewhat of a decent video card ) you could get them to be mining in the off hours. Especially since we will be using Groestl, the cards wont be sucking huge amounts of power or making a ton of heat.
I honestly don't know why people haven't done this already. Can you imagine paying for some marketing that would get posted to just a tenth of the League of Legends players? In January they had almost 67 million people play that game. Or the pro streamers, if we could get just one of them to talk about it, that would reach tens of thousands of players. Especially when the streamers do guides, they often have sponsors. I would be more than happy to mine if I knew it was going promote the coin on a twitch stream.
If you go to http://www.leagueoflegendsstreams.com/home/stream right now there are over 18000 people watching Phreak stream League of Legends. Even if you had one of the other players that aren't as popular but still have a good following ( say Trick2g ) , they usually average around 7-9 thousand viewers during peak hours. That's a lot of people that more than likely don't know about Digibyte or crypto currency in general. You create a script for them to read, give them all the information and after one of their guides or during a break have a commercial or something that would have a short plug for digibyte, how to start the 1 click miner and where they can spend their currency ( Digi-pay ? ) . Now that's a serious idea aimed at serious end users.  |
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some of you will know this already but a lot wont because this isnt a blackhat forum so i will tell you, ready made remote admin tool or wallet stealer are free and costs only $50 to buy equipment to make the virus undetectable for a couple of days, virus gets hidden in the real file and av will never detect it, if dev wants to infect you and isnt a complete moron he will succeed
scanning on virustotal doesnt prove shit and encrypting your wallet doesn't do shit because as soon as you type in the password the hacker will get it either from logged keystrokes or watching your screen in real time
its better to keep new alts on pool or exchange or on different computer to the one with your btc/ other wallets you care about
Yeah, in the world in which we live, especially in this "no trust" environment, what it all ends up coming down to, once again, like it always does, is trust. You've got to trust your devs. There's just no other way around it. And being smart and not keeping wallets (hot or cold) on any machine that's not defined as a secure and trusted machine. Even then, I keep my wallets on 2 *dedicated* USB and an external DD to boot. I still think this is the best How To on the practice that I've seen. http://www.cryptobadger.com/2013/05/guide-bitcoin-wallet-security/BTW, on another note, looks like the difficulty after PoS is progressively rising.  |
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+1 Yes. We will be releasing the update this Saturday! My timing couldn't be worse: I'm going on two weeks vacation starting Saturday.   And it's going to be a complete getaway, with everything shut down, and only sporadic internet connections (headlines, Bitcoin Forum, e-mail . . . maybe, etc.) so I'm going to miss all the fun. The flipside is that once I'm back everything will be purring like a happy cat. Good luck and best wishes for a successful rollout!  |
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+1 Yes. We will be releasing the update this Saturday! My timing couldn't be worse: I'm going on two weeks vacation starting Saturday. And it's going to be a complete getaway, with everything shut down, and only sporadic internet connections (headlines, Bitcoin Forum, e-mail . . . maybe, etc.) so I'm going to miss all the fun. The flipside is that once I'm back everything will be purring like a happy cat. Good luck and best wishes for a successful rollout! |
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200 and 400 difficulties added. We've also added 2 years and 4 years periods.
Thank you,
AidBit
Very nice. If there was any doubt before, I'd say that all those oversupply worries can now be alleviated with a couple clicks of the mouse! Really sweet! Thank you! |
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Block reward per MH/s will be the same (give or take an extremely small percentage random variation) regardless of the overall network hashrate (slowly diminishing on a daily basis according to the payout formula posted on the OP). You are correct in saying that the entire block reward will increase, but that would be a logical eventuality when you get more miners on the mother lode! Regardless, there will be no problem with oversupply. That's a generally unfounded obsession on the part of many that's become very extended as of late (unfounded unless you're talking about coins like DOGE). Don't worry, this is not an issue. If you don't have time to do the math yourself and need to trust someone, take my word for it, I have it very well studied (I think there are lots of folks here on BTF that can vouch for my honesty and integrity). You can also get a very good idea in no time at all with very little effort using this neat little tool: http://www.aidbit.net/trading/ (You can select average difficulty up to 100.) Thank you for taking time to explain. Should we add some more difficulty options in the chart? Regards, AidBit I wouldn't mind seeing 200 and 400 - just to get an idea on what a truly 'out-of-the-park' diff would do.  |
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Nothing against your exchange in my last post copychicken - was just trying to help keep perspective with the trading in one coin - again, nothing personal, just business. |
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Could someone elaborate more on what "Proven weighting with some tweaks" means? Does it mean each algorithm has a variable weight to find a block or is it related to the block reward?
Is it possible to dynamically change the block reward to be based on the size of the network hashrate of that algorithm relative to the rest of the network? This would perhaps encourage a more fair distribution of hashing power across the algorithms.
"Proven weighting with some tweaks"? I'll take a stab. Without getting too technical, I think what that means is that each algo is automatically weighted by its own individual difficulty derived from a shared ratio: SHA-256 could have a network hashrate that is sky high that would cause its individual diff to also be sky high, meaning that its proportionate payout weighting would be much less than the same MH/s Qubit payout with a low network hashrate and low diff. As for the "tweaking" part of that statement, we can only hope for what we'd each like to see, and then patiently wait and see. DigiShield dynamically changes the block reward on a per MH/s percentage basis - the total isn't changed, but the difficulty is changed such that it still takes the same time to solve then next block (on average) regardless of how much hashrate you throw at it, meaning that the per MH/s split is automatically lowered. All coins incorporate a diff algorithm of some sort. Other examples of dynamic block rewards would be DOGE, for example, that originally had a random block reward, and the most recent and creative that I've seen, AID, whose block reward actually increases on a rough 8:1 ratio to diff! |
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hello dev.
I cant hold my coin for higher price, because the block reward will be very large when the hashrate rise up.
Block reward scaling factor on ONE month periods, may be a good choice.
Block reward per MH/s will be the same (give or take an extremely small percentage random variation) regardless of the overall network hashrate (slowly diminishing on a daily basis according to the payout formula posted on the OP). You are correct in saying that the entire block reward will increase, but that would be a logical eventuality when you get more miners on the mother lode! Regardless, there will be no problem with oversupply. That's a generally unfounded obsession on the part of many that's become very extended as of late (unfounded unless you're talking about coins like DOGE). Don't worry, this is not an issue. If you don't have time to do the math yourself and need to trust someone, take my word for it, I have it very well studied (I think there are lots of folks here on BTF that can vouch for my honesty and integrity). You can also get a very good idea in no time at all with very little effort using this neat little tool: http://www.aidbit.net/trading/ (You can select average difficulty up to 100.)Already began with the dump? A total shameless Small exchange, low volume, can't believe people are even paying attention to this let alone drawing inferences.  I mean, can this really be taken seriously? Anyone noticed the bid-offer spread?
You're right, anyone selling is beyond hard-up. |
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HR, As always, beautiful insight. You have a way with words to put things very concisely in a pragmatic manner. We have arrived at the conclusion that what is tried & true is the best course of action in this modern crypto business. Why re-invent the wheel when it is already circular and rolls down the road to success just fine? And there is that fine line between staying with the tried and true, and innovation. Some things, like the wheel, work so well that it's impossible to make them better; however, if we were to reject all innovation, we'd still be moving ox carts with oxen. This is the main reason why I'm always so quick to say, "this is just my opinion" - I know I am super conservative and probably about as close to the "stable" end of the spectrum as you can get, and that I do have a way of making a very strong and convincing case, that might not be, often isn't, at the end of the day, the best. Strong arguments have a way of stifling counterarguments that ultimately are absolutely necessary in order to reach 'equilibrium', so keep in mind everyone, these are just my ultraconservative ideas that desperately need your input as well. This is also why I suggest a slow but sure approach - algo change today, maybe payout adjustments tomorrow, probably a more advanced wallet before that, etc. The algo change will get miners back on DigiByte, and I think that is paramount right now. Everything else with great care, lots of study and analysis, and even more due diligence. Oh, and just to end with my main "extreme argument", DigiByte should look to be one of the few eventual standalone leaders in the industry, not DigiByte and, but just DigiByte. (and maybe I'm wrong) |
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In general, there are two kinds of computer users in the world: those who want to work (and therefore want something that works), and those who want to develop (and therefore want something to troubleshoot). That’s tongue-in-cheek humor, but it’s basically true, some users love playing around with the latest technology, the most recent release, etc., and don’t mind [actually like] troubleshooting, and others want something that is guaranteed to work and don’t have the time or inclination to troubleshoot. It’s the difference between “stable” and “beta”. AutoPOW multi-algo is beta. Which kind of computer user are you? Are you an IT thrill seeker, or a pragmatic, get-the-job-done-without-further-complications kind of user? Of course, you could also fall into yet another category that could cause you to be interested in something beta, and I would call that desperation. In the article posted about DOGE, the two sub-headings are titled as follows: - Plan to save dogecoin
- Dogecoin in ‘dire situation’, says Lee
There’s even another category we could create for someone interested in that kind of ‘adventure’ that might be best defined with the inclusion of the quote at the end of the article: - “[The community] can focus on what dogecoin does best (tipping, donations, wow) instead of worrying about defensive mining and network security.”
I’ll let readers put their own name on that category.  To summarize, I don’t like the idea. I think it’s just another gimmick for losers. A very bad idea - but that's just me. Let me just finish with a question: if you’ve got a winner, why on earth would you want to join up with someone else in a “dire situation”? A winner stands on his/her own two feet. I say go with a proven winner - the known, stable and proven version that needs to be finally implemented correctly. Who do you want to share victory with? And why? Add: I just saw that neuroMode has an article being published by CoinBrief tomorrow titled: "Multi-vPoW: Myriadcoin's Solution to Parasitic Merge-Mining". I'm looking forward to seeing how he argues that! https://bitcointalk.org/index.php?topic=483515.msg8193318#msg8193318 |
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Just 'scored' my first 8 AID block solo mining!!! |
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Doesn't TL;DR mean "Too Long, Didn't Read"? Good going with the Easy Miner! That's something very real and very tangible. Now let's see how the launch goes and if price responds (or if those ASIC zombies win again). |
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I thought HR suggested a more distributed payout based on each algo. Not sure which way Jared and team are going yet.
YC
That's right, basically because the "adjusted difficulties" don't even come close to getting the job done, as I see it anyway. Here's that post: https://bitcointalk.org/index.php?topic=408268.msg7954541#msg7954541 (The only thing that wasn't adapted to DGB was the total block reward figures, but the rough percentage breakdowns between algo rewards would basically be the same.) Here's something else - completely unrelated - that's perhaps easier on the eyes, takes much less time to digest, and is probably much more fun . . . as I was having a little fun with it myself. |
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Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.
in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does. You can extrapolate and hypothesize to get a general idea. Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea. Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable. And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units. I wouldn't worry too much about the numbers - it's the base product that counts! I couldn't say it better my self. Thank you! I think, with that, you just did! Nice to have confirmation that my "numbers" are more or less on track (not to mention the same on what's really fundamental for long term success) - I know you guys have this studied way better than I do. Oh, and, my pleasure. |
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Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.
in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does. You can extrapolate and hypothesize to get a general idea. Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea. Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable. And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units. I wouldn't worry too much about the numbers - it's the base product that counts! |
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Heads up again with the ASIC "cancer". If MYR is any indication, or better said, if the price of MYR is any indication, the MYR "formula" might not be the most advisable. I'm still thinking that adjusted rewards to handicap the playing field would at least be one key part in greatly improving upon their 5 algo approach. Something I just posted over there saying basically the same thing. https://bitcointalk.org/index.php?topic=483515.msg8167288#msg8167288Who will get the implementation correct, and who will be first to do it? |
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