Thanks to generous donations, as well as my own PMC put aside, I have enough to distribute for some time. I believe this is the best method at my disposal to distribute PMC. Once the value goes up, or I start running low, I can change the payout settings.
The network imposed transaction fees have pushed up the rewards significantly. Average is around 0.25 PMC. I may have to slow it down if this 100 PMC runs out in the next few hours.
I would definitely lower mining rewards to like .1 PMC just to make it last a while I can't lower the reward, only delay the time between rewards. The vast majority of that reward is actually being imposed by the network. Since I started the rewarder a couple of hours ago, I have less than 60 PMC left. I'll have to increase the time between rewards. At least until the network imposed tx fees decrease. On the plus side, the network is generating decent tx fees without my block rewarder. The network is imposing a transaction fee of around 0.43 PMC right now. Which is quite high. |
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I am pretty new to all of this, what exactly does 1 Satoshi stand for ?
a satoshi is the smallest unit of 'currency' of a bitcoin so basically 0.00000001btc is 1 satoshi 20 satoshis would be 0.00000020btc so what hes saying is he figures about 1million fcks would be worth about .2-.25btc to start Thank you for the explanation, so if 1 FCK would do 20 Satoshi and you would have 5 million it would equal 1 BTC, that sounds promising  It's not quite as straight forward as that. It also depends on exchange volume, and how many buyers/sellers there are. |
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Give PMC time. I keep saying this, but the price right now is meaningless. It needs to be in more hands, and be on more exchanges.
I've pumped another 100 PMC into new blocks on the network today. I'll pump another 100 overnight.
Now is the time to mine PMC.
Eventually it's going to sink in with people that there are less 500,000 coins in existence, and that is all there will ever be. I've never come across a coin like this before, and I will continue to distribute it via my Block Rewarder until the wallet update is released.
There will come a time where a single PMC will be valuable. We are still in the early days of distribution. Imagine where Premine could be in just a few short months. Don't miss out.
+1 , fully agreed it is a matter of time like in most investments, People will come back and whine "If ever I could come back by that time the coins were freely distributed !!!!" Yes, it will be too late by then. You can get a good amount right now just by mining it. It's basic economics. If you want currency to move, it needs to be in enough hands. Currency would be worthless if it was only held by a couple of hundred people. This is anti-hoarding.  Premine challenges normal cryptocurrency conventions, and that will be the reason that makes it a success. We want people to use Premine. Well, here's your chance to get some while it lasts, because it's going to be pretty damn expensive to get hold of in the near future. how much are people averaging mining per MH/s? That I couldn't possibly say. Do you mean how much PMC they are getting? It varies depending on the network transaction fees, and what my block rewarder pays out. |
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Give PMC time. I keep saying this, but the price right now is meaningless. It needs to be in more hands, and be on more exchanges.
I've pumped another 100 PMC into new blocks on the network today. I'll pump another 100 overnight.
Now is the time to mine PMC.
Eventually it's going to sink in with people that there are less 500,000 coins in existence, and that is all there will ever be. I've never come across a coin like this before, and I will continue to distribute it via my Block Rewarder until the wallet update is released.
There will come a time where a single PMC will be valuable. We are still in the early days of distribution. Imagine where Premine could be in just a few short months. Don't miss out.
+1 , fully agreed it is a matter of time like in most investments, People will come back and whine "If ever I could come back by that time the coins were freely distributed !!!!" Yes, it will be too late by then. You can get a good amount right now just by mining it. It's basic economics. If you want currency to move, it needs to be in enough hands. Currency would be worthless if it was only held by a couple of hundred people. This is anti-hoarding. Premine challenges normal cryptocurrency conventions, and that will be the reason that makes it a success. We want people to use Premine. Well, here's your chance to get some while it lasts, because it's going to be pretty damn expensive to get hold of in the near future. |
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Thanks to generous donations, as well as my own PMC put aside, I have enough to distribute for some time. I believe this is the best method at my disposal to distribute PMC. Once the value goes up, or I start running low, I can change the payout settings.
The network imposed transaction fees have pushed up the rewards significantly. Average is around 0.25 PMC. I may have to slow it down if this 100 PMC runs out in the next few hours.
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Block Rewarder Status: Live
Block Rewarder Pot: 100 PMC
Time: 5 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.41014965)
Block Rewards per block 1x, 2x, 3x
First block reward just went out; 0.3000006.
Going to be a lot higher this time it seems. Network is imposing additional transaction fees.
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Its going on Cryptsy tonight, buy as much as you can. I hold 600, it aint much but always something  same here... lets go for 1$ a coin! 0.001btc ?: > at least 0.001 man.... hoping for more of course...  WTF... difficulty @ fucking 9 right now MAKE US SOME CASH BABY!!  Current Difficulty 9.35056423 $_$ |
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Give PMC time. I keep saying this, but the price right now is meaningless. It needs to be in more hands, and be on more exchanges.
I've pumped another 100 PMC into new blocks on the network today. I'll pump another 100 overnight.
Now is the time to mine PMC.
Eventually it's going to sink in with people that there are less 500,000 coins in existence, and that is all there will ever be. I've never come across a coin like this before, and I will continue to distribute it via my Block Rewarder until the wallet update is released.
There will come a time where a single PMC will be valuable. We are still in the early days of distribution. Imagine where Premine could be in just a few short months. Don't miss out.
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how is the coin distributed? are there some people with more than 50k? if, how?
I doubt there is anybody with that much. Unless they bought it on the exchanges. I expected there to be a lot of dumping when we hit the exchanges, but it's been relatively subdued, all things considered. |
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Yes, we need to give the new devs time. Let's be grateful that development is ongoing and fckbankscoin has a bright future ahead.
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We already have a lot of coins in the Premine Faucet already. We'll need to find other methods of distribution apart from faucets too.
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It seems that what was potentially causing my script to crash was infact txfees imposed by the network.
Basically, what my script does is set the txfee it wishes to send (the miners reward), then sends the coins from wallet address A, to wallet address B. When wallet address A is running low, wallet address B sends the coins back to wallet address A, so wallet address A can keep sending coins back to B.
It's basically a cycle;
A sends to B
A sends to B
A sends to B
A sends to B
A sends to B
B sends all to A
Repeat from start.
This is the basic principle of generating block rewards. Each time before wallet address A sends to B, it calculates what the bonus should be, and sets the tx fee to that amount.
Where I was tripping up was when sending coins from B back to A. I was querying my wallet and finding out how many coins were in B, and trying to send them all back to A. This doesn't work. If the network imposes its own tx fee on the transaction, then I am trying to send slightly more coins than I can afford to send from B, as you also have to deduct the txfee imposed by the network.
I've gotten around this by simply sending 1 less coin than the total coins in address B. I'll know soon enough if it has worked. This is such an annoying little glitch.
Edit: Script has passed two cycles successfully without crashing. Hopefully 1 PMC is enough of a buffer to prevent the network trying to impose too much of a tx fee on my transfer of coins from B back to A.
Block rewarder is back up and running for the time being.
This is a brilliantly altruistic endeavor Will be sending you a couple PMC for the machine. It seems to be fully functional now. I just need to factor in the tx fees imposed by the network now, so I don't eat into all the Block Rewarder funds when the network imposed txfee is above the tx fee generated by the block rewarder. Thank you for your contribution. |
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Grain is here to stay. Everyone seems to want to get rich quick, in other words pump and dump crapcoins. Don't be fooled into thinking that's a sustainable model. I'm holding Grain long term. No hype or rhetoric. It just makes sense to.
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How many premines in circulation?
498999.99996251 Are all in circulation, or retain the developer still a few (for advertising, etc.) ? Think he has some left. You'd have to ask the dev though. |
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So the block rewarder ran smoothly last night. It kept increasing the payout until it reached 0.22007062, and then it ran out of funds.
Still not quite sure what's causing it to increase the reward like that. I've made a temporary fix and topped up the block rewarder with 100 PMC. I'll leave it running for today then see if I can figure out the problem. I think it's just a rounding issue with floating point numbers.
Edit: It appears that the network is imposing a 0.2 txfee. I think. Will leave it off until I work it out.
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Type Label Address Amount
Payment to yourself -0.0400014
Payment to yourself -0.04000136
Payment to yourself -0.04000132
Payment to yourself -0.04000128
Payment to yourself -0.04000124
Payment to yourself -0.0400012
Payment to yourself -0.04000116
Payment to yourself -0.04000112
Payment to yourself -0.04000108
Payment to yourself -0.04000104
Payment to yourself -0.040001
Payment to yourself -0.04000096
Payment to yourself -0.01000023
Payment to yourself -0.01000022
Payment to yourself -0.01000021
Payment to yourself -0.0100002
Payment to yourself -0.01000019
Payment to yourself -0.01000018
Payment to yourself -0.01000017
Payment to yourself -0.01000016
Payment to yourself -0.01000015
Payment to yourself -0.01000014
Payment to yourself -0.01000013
Payment to yourself -0.01000012
Payment to yourself -0.01000011
Payment to yourself -0.0100001
Payment to yourself -0.01000009
Payment to yourself -0.01000008
Payment to yourself -0.01000007
Payment to yourself -0.01000006
Payment to yourself -0.01000005
Payment to yourself -0.01000004
Payment to yourself -0.01000003
Payment to yourself -0.01000002
Not even sure what's causing this wonderful increase in rewards. Looks like some sort of exponential growth of the mining reward. I'm going to bed. I'll leave it running for tonight. Just to see what happens. Enjoy the mining rewards.  |
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Gravity well is a hack? What?
It's the only algorithm that seems to actually work against whales and pools. I don't even understand the current difficulty algorithm now. Probably because I lost track of it in the last thread.
You shouldn't have to borrow hashing power, or add in more layers of complexity. This has been over engineered. You're trying to fix problems that are not easy to overcome. I'm still a huge fan of Catcoin, but I couldn't possibly invest any further into it. I would mine it, if it wasn't so unpredictable right now.
I've been mining CAT since Dec 26th. Speaking as someone that mined every one of the 530 CAT in my wallet, it's my position that this coin has been improving since it's launch. There are other algos that work. Gravity well is the current fad, certainly, but it's not the only way to go. Maybe we'll use it, maybe we'll modify it, maybe we'll select another option. But we're not in the final section process yet - we're just beginning! This is a good time for everyone to RELAX! We have brought CAT back from death - this time it can run without manipulation. You suggest the current algo is 'over engineered' even as you incessantly promote the gravity well?  Ideas are good! Even the ones that make the cat laugh. Gravity Well is simple to understand, and fixes a lot of problems that others have complained about. I don't understand why people are so dismissive of it. I've heard complaints that it only addresses specific problems. Well maybe the problem is you're trying to do too much with the difficulty algorithm. If you want to reward loyal Cat miners/investors, then introduce a small PoS element. I only promote Kimoto Gravity Well because it works. Nobody can counter-argue that it benefits botnets and farms. Every single coin is vulnerable to botnets and farms regardless of what algorithm it employs. Satoshi said one-cpu-one-vote. It sounds like some people want to undermine this principle. You can reward loyality, but you can't punish greed. |
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Gravity well is a hack? What?
It's the only algorithm that seems to actually work against whales and pools. I don't even understand the current difficulty algorithm now. Probably because I lost track of it in the last thread.
You shouldn't have to borrow hashing power, or add in more layers of complexity. This has been over engineered. You're trying to fix problems that are not easy to overcome. I'm still a huge fan of Catcoin, but I couldn't possibly invest any further into it. I would mine it, if it wasn't so unpredictable right now.
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I'm a great believer in elegant solutions solve difficult problems. If it takes more more than 10 minutes to get my head around it, then it's not elegant. |
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OP has invented a coin black hole.
Donate and that's where your coins will go.
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