Thats a great help , I decided to hash on the X11 Algo before I think about puttins some block erruptors on.
How often do you payout on hash mining.
I will probably keep the coins in my wallet for staking also.
This was worker address I used
XVddJNRP7F9jpEeHmb6VUtgdw3S45suSsS
So basically you use BTC from mining , then convert that to USD , then convert to Xaurum then you send it out?
What is minting?
I am just so confused with it all.
From the way it was explained to me, I believe that yes, all coins mined at the goldmine are converted to BTC and then XAURUM, at which point it is paid out to the miners. I believe payouts are once daily, based on the constant (and welcome) updates from dev daily about the new amounts and worth of the coin. I believe the giant rigs running on the 'private' pool are either owned or rented by the dev/team and the profits I believe are used to aquire the gold that is used to back XAURUM. (constant growth) Dev please correct me if Im wrong anywhere here. (sorry not dev, but I went through your learning curve): 1. Coins mined at goldmine are sold for USD. With this USD gold is bough. At the same time XAU coins are sent to the miners. This process is called COINAGE (a way to get new XAU on the market) 2. Private pool is just a name for a bigger miner. Bigger miner is treated equally as smaller miners. For example I was mining through private pool, but I'm not a dev or anything. At time it was the only way to get bigger amounts of XAU. If you want to mine on private pool, contact devs and get the conditions. And yes, the hash is mostly rented on Nicehash. Minting is like mining - a process of COINAGE. In case of minting you can buy XAU with fiat directly - no mining needed (this is what I'm doing now). Minting can only be done through MasterNode. MasterNode is a wallet with at least 1000 XAU. More on minting here http://mint.aurumproject.io/Hope that helps |
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I am totally confused by this and the website
Am I correct in assuming if I use your pool I will earn your coin as a payment for shares/hash ?
You are correct, you get Xaurum for hash on Goldmine, (there are some delays in payouts that are supposed to be over soon). We're also in the process of developing new websites, to make things less confusing. I have been hashing on this , and my worker shows nothing on your website. How do payouts work. What is your coin per share. I wont switch my block erruptors on until I know if it will be viable with huge power they draw. Also what is this thats a serious amount of hash power Address Valid Shares Invalid Shares Efficiency Hash Rate GoldMinePrivate4 585093248.00 1769472.00 99.70% 664.05 TH GoldMinePrivate5 320017152.00 1334272.00 99.58% 48.68 TH GoldMinePrivate3 140181504.00 786432.00 99.44% 184.84 TH All sha miners are forwarded to bigger pools. "Bitcoin" miners mine on https://slushpool.com/stats/. Private pools mine on https://www.antpool.com/home.htm. Hash of private pools is in most cases rented on Nicehash. If you want/need private pool PM the guys. Other miners mine coins directly. Whatever they mine is sold for USD and converted to gold for XAU backing. Miners are rewarded with extra reward on this pool. The more they mine, the bigger the reward. Reward is substantial. Here is the link to formula https://docs.google.com/spreadsheets/d/1Spg-mGTbt5u8-PI4IfxuZ4gtChNSKvDuN82PBFAyXq8/edit#gid=756573837. Put real numbers in the formula example and you will get the actual mining price of xau. At current buy market price of cca. 135 USD/XAU, the mining price is cca. 119 USD/XAU - you reward is cca. 16 USD/XAU or cca. 13,4% more than you get anywhere else. The reward grows with hash rate and market price. The payouts for private pools are regular. For other coins they had to first switch from Cryptsy to Polo and after update the APIs for BTC. Hopefully they will be up and ready soon. In past all payouts were made as promised. In case of longer fuckups they rewarded the miners extra. Hope this helps. (I'm previous miner on this pool. Stopped because I switched to minting XAU.) |
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[/quote]
Ethereum is not just a currency. It is fuel for making smart contracts. Microsoft is working on the Ethereum based system.
[/quote]
That has nothing to with a currency and NO Microsoft is NOT working with ETH at all.
[/quote]
I agree. Dont believe MS is using ETH tech for anytrhing.
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Coin is great, mint is very powerful idea but .... you mathematics is really bad!
CORRECT THE FORMULA!
Its bad because it's not mathematics, the formula is correct (as far as I see), but its not math yet, its a concept, it describes minting. It just says that minting price is determined by Xaurum base plus half of the difference between its market price and its ratio. The details of actually calculating the price will be published later. Or is there some other error? Ok, I understand. Concept is good just one bracket too much. |
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Coin is great, mint is very powerful idea but .... you mathematics is really bad!
CORRECT THE FORMULA!
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Every real currency should have gold standard mandatory.
The world has changed since USD gold standards was discontinued. The changed was bad. It enabled rich to get stupidly rich and the rest of the people are mainly slaves.
I would like to see a combination of crypto currency directly tied to gold. That is what also BTC lacks.
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What did you expect to happen?
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Perfect! thanks for the explanation! I completely understand now, and have switched all my mini miners over (except sha... those play the 'lottery' a ckpool lol)
for sha ask the guys for private pool. It works best. |
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I'm not quite sure I understand the mining of this coin correctly. I see the pool link as supplied http://goldmine.aurumproject.io however, nowhere do i see an option for mining Xaurum directly (also it's a POS only coin isnt it?) Only BTC,LTC,DASH,NOTE,START or multipool. what is the purpose/relation of the pool to this project? Am i earning Xaurum by mining there in some way as a 'bonus' reward? Or is the 'aquire from exchanges only'. I would love to add this coin to my steadily growing collection of alts  As I understand Xaurum coins are premined. At pool you mine other coins. Those are sold so the gold can be bought. This is why they say its a goldmine. Your electricity is de facto being spent for gold - not for nothing as with other coins. For mining you are rewarded with Xaurum coins. Your reward includes a bonus calculated with this formula https://docs.google.com/spreadsheets/d/1tSyb2mun1vOLgTwYum3nLK-UcKF7kz7Kn6plT4MVw9Y/edit#gid=1578941372Example: if you mine 1 BTC, you would get 1 BTC anywhere else. Here you get from 1,125 to 1,250 BTC in XAU coins. So, in fact this coin makes you mining from 12,5% up to 25% more profitable. The more miners there are the greater the reward! Xaurum guys please correct me, if I'm wrong with the explanation. |
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Gold standard has to come back, if we want to move the wealth distribution in the right direction.
This is the basic fact.
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Look at Xaurum. This one is backed by gold and the quantity of gold represented by 1 XAU is growing daily.
If needed you can "melt" XAU and receive gold at your home.
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If one wants to ban and fully control anything, then one just has to tie it to terrorism.
Bitcoin has been tied to latest Paris attacks...
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Web link is linked to old site... |
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EU has open debate about BTC.
What do you expect as a result?
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Here are the stats for the 102th payout:
We have mined new 48,63928431 Xaurum and transformed electricity into 85,06929895 more grams of gold. We now have 2038,614069 of total Xaurum money supply, backed by 3037,810009 g of gold. This means every Xaurum is now worth 1,490134918 g of gold and can be melted at this ratio.
Congratulations for 3kg of gold and 2k of coins! There is also 6,5% growth of gold base value per XAU from the beginning of the year (17 days). If mining holds on current levels, the trend shows very solid results in future. |
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Depends on efficiency and power cost. Play with my calculator: https://cryptominer.ca/bitcoin-mining-calculator and you'll be able to see when power cost is greater than revenue. Please note that default parameters are in CAD and not in USD. We can see that for a S7 owner paying 52 USD / kWm will have to power off is miner if the Bitcoin price drop to 105 USD. A S5 owner (.51 J / GH) will turn it off at 200 USD. A S3 owner (.78 J / GH) will turn it off at 305 USD. You can also compute it analytically instead of going through trial/error. Just solve the inequation: (Btc price) * (BTC/TH/mthly rate) > (kWm cost) * (Hardware efficiency) (Btc price) > (kWm cost) * (Hardware efficiency) / (BTC/TH/mthly rate) The current BTC/TH/mthly rate is .1331. Then (Btc price) > (kWm cost) * (Hardware efficiency) / .1331 If we input the kWm cost of 52 USD and hardware efficiency of .78 to verify our previous S3 profitability calculation (Btc price) > 52 * .78 / .1331 --> 304.73 USD Great! Thank you |
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Thanks for suggestions. You confirmed that poloniex is a way to go as I hoped.
"Don't put all your eggs in one basket" i use poloniex too but use and another exchange don't risk everything on the success of one venture. Sure. I just need a good replacement for Cryptsy. I'll continue using c-cex (it is pretty good) and start using poloniex. |
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Miners were happy with high price of BTC.
With lover price the problems of paying for power becomes a problem.
What are the prices of BTC where their problems of paying the power bills begin?
Is my statement even true?
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