Bitcoin Forum
June 26, 2024, 05:03:37 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 [2]
21  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NERVA: Cryptonight for solo CPU miners. ASIC, GPU, NiceHash resistant on: May 15, 2018, 11:24:20 PM
Is solo mining not just the opposite of decentralization?

Pools are a point of centralization, since solo mining doesn't go through a 3rd party (pools) that must be relied on, it is therefore less centralized.


because a few people getting more coins?

That could be said for every coin.. (more hash=more coins), but has nothing to do with pool vs. solo mining. The only difference is that rewards come more randomly when solo than on a pool, but they average the same (solo ends up paying out slightly more even due to no fees to the pool, not to mention pool downtime, scam pools, etc.). So as long as the difficulty is low enough to find blocks in a reasonable amount of time it shouldn't matter.

For the time being, the difficulty is still low enough to find blocks with a typical single cpu (even if you only find a block every day or even few days, it is surprisingly profitable for a cpu mined coin, based on the booming trade volume on altex). Eventually, the difficulty could, and probably will soon at this rate, rise to the point where its simply not practical to keep solo mining with small amounts of hash power.


Anyways, it seems its not the case that the coin can't be pool mined, just that it requires changes to existing pool code to be compatible with its algorithm.

The dev has said in the discord channel that he will make the changes needed so that it can be pool mined, so hopefully by the time the small miners get pushed out of any realistic chance of finding a block, they can continue mining on a pool for steady payouts.
22  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NERVA: Cryptonight for solo CPU miners. ASIC, GPU, NiceHash resistant on: May 08, 2018, 05:17:02 PM
Yes, the difficulty has increased dramatically as this coin is becoming more and more popular.
It is already virtually impossible to find a block as a solo miner on a home pc, even with a decent cpu.

It sounds like one of the goals for this coin is to make it accessible to everyone with a pc, you even said "Everyone with a PC has a CPU, everyone with a PC can mine NERVA."
If that is the goal for this coin, I feel that pools are necessary, because as it is now, the only people who are finding blocks are those with giant cpu mining farms, powerful servers, etc.
Getting 1 nerva a day from a pool would be better than throwing hashes into the air and never finding a block.
I know its still possible to find the occasional block, but this coin is so new, the hashrate/difficulty will only keep increasing if/when it gets more attention, this problem is only going to get worse until only those with cpu farms can bother mining it.

I agree that solo mining is a nice idea to avoid centralization from pools etc, but I feel like it is impractical and will not help the coin in the long run.
The only other option I can see would be to dramatically reduce both block time and reward per block, but I'm not sure if that is an effective solution or even actually feasible, and even if it were, would eventually lead to the same situation we have now anyways once the difficulty increases enough, unless the block time itself was somehow systematically reduced with difficulty..

Anyways I am very excited for this project, and I hope you can take the time to read my thoughts and consider adding support for pools for this coin, or perhaps creating a bounty for someone else to make it possible.
23  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [QWC] Qwertycoin -NO PREMINE- Cryptonight + Zawy / Anon Cryptocurrency on: April 06, 2018, 12:46:51 AM
Is that even the same project? that thread is 3 years old and the specifications of the coins are completely different (different algo, max coins, etc) and its listed as [QWY] not [QWC]. I mean I don't know either way but doesn't it seem like an entirely different coin? though I haven't been in discord or telegram or anything and their website doesn't have info about the dev team so I guess it could be the same dev and I wouldn't know.. also I notice the roadmap on qwertycoin.org says planning for QWC happened in nov. 2017, not 2 years before that.. which would seem an excessive amount of time I would think with no info in between, no? Again that's just what I see from looking at it but I could easily be wrong, but its not really unthinkable that 2 projects might come up with that same name, especially if the old one never went anywhere.

For the time being, it seems like there are still issues with the chain, it sounded at first like issues with the hardfork, but someone above posted that it was due to an attack on the network. Either way, I'm optimistic about the future of this coin, and will just mine something else for the time being while the devs sort it out and get everything running smoothly again.
Pages: « 1 [2]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!