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One of the reasons I always chuckle when people believe that DASH/XMR/NEM or whatever coin have a legit chance of being the next bitcoin is because every altcoin is mostly traded to- and from FIAT through bitcoin. As long as that is the case it's not possible to replace bitcoin.
If bitcoin were to rapidly flop for some reason the crypto scene would lose tremendous amount of trust from everyone from casual users to crypto enthusiasts depending on the reason why bitcoin died.
I strongly believe that none of the currently existing altcoins could take its place (in terms of liquidity) because none of the top altcoins are that much better than bitcoin.
So yeah, altcoins I think are absolutely dependent on btc.
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I don't get some of you guys who are deeming closed source miners being unfair. By that logic cheap electricity or owning more than average amount of mining hardware could also be considered unfair. If anything, expecting devs to work for the occasional few beers donation for their work especially when hundreds if not thousands of people are using their work is unfair. Devs, miners, pool operators, exchanges, websites they're all for profit. Sure, I prefer open source but if buying closed source miners is how I could get ahead of others while paying $0.14 kWh then I'm fine with it. Besides, those open source optimizations will also reach the big farms and at the end of the day cheap electricity, deep pockets or private kernels really doesn't matter; big farms will always make the most and the small guys will be forced to get out first if things take a turn for the worst (like bitcoin price). I don't know why a miner fee isn't just used. 1-2% would be perfectly acceptable for all but the scroogest of miners. It keeps the development going and he gets paid for his work. Given how wide spread the miner is, this would be a pretty acceptable amount of income. This has worked for Claymore quite well.
If there is more then one developer working on the miner they can share profits or use whatever model they want to distribute funding. Miners should be seen as a product not a 'donation'. They could even make a company to support this with working developers. Miner fees scale so it's acceptable to everyone mining (except for mega miners, who are reaping most of the profits anyway).
I do agree, there needs to be some background support for the miner developers though to keep them all on the same page and it doesn't turn into the AMD shit show again where everyone gets screwed who doesn't have the money.
Myagui told you: https://bitcointalk.org/index.php?topic=826901.msg11594243#msg11594243Fee doesn't necessarily mean closed source. Afaik you can have code that mines for you a few percent as long as you also provide the source code. Sure, in reality most miners would disable it but considering how many people use these miners the profits I believe would still be significant from the rest. Of course there would be some asshats renaming the thing and distributing it with their donation address/pool plugged. That's funny in and of itself because a optimized miner is essentially the equivalent of what ASICs brought to market for sha256 and then scrypt. It makes all other tech irrelevant when it starts spreading. Initially it doesn't make a big impact, but with enough bulk it pushes everything else down. It's the same thing.
Except in this case optimized miners are free while ASICs are certainly not. If ASICs would become free the next day they'd turn into useless junk. |
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I have a feeling that nothing's going to happen when the timer runs out and the 'dev' will stay offline.
Edit: Yep. Another coin that was forgotten even by its 'dev'.
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It's not a loaded question. It was a genuine request for clarity. However, I've since spoken to the devs privately and they have confirmed that they are on top of the situation. It's potentially very serious, and right now it is best that the details are kept private. That said, if you have any particular concerns I'd suggest contacting the devs directly.
Yeah because that always works out nicely. /s |
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Asking for 100BTC for something that is a copy paste from 2 coins is always nice, how much work did you exactly put into it? Few hours?
^this. And of course it's a moderated thread so these will probably get deleted. |
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So the ICO amount equals ~2 weeks of mining reward. The ICO price will make or brake if people will mine this or not.
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Quark algo?
Let's hope so. |
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Here's a question. If Monero is decentralized and without central authority, who could they send such a letter to? And if someone or some organization is held liable (if they ignore the letter), what would that say about the decentralized status of Monero in particular as well as decentralization of all digital currency?
My thoughts exactly. My guess is this would go differently than what was the case with the Kanye West coin 'Coinye'. In that case they sent the C&D letter to an email address of the presumable creators of the coin ( coinyewest@gmail.com). Among other hilarious things like the dev team sending their own C&D letter to Kanye, there was a lawsuit against the creators of the coin prompting them to sell their Coinye holdings and leave the project. Eventually they dumped their coins and abandoned the project but the lawsuit probably had nothing to do with that. |
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The ICO price will be below the mining price
You don't know that. |
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well... I had the problem on my secondary psu which powers my 780ti (actually it burnt at the other side + on the psu cable it was a cheap one). forgot to mention: monorail psu or it will burn  but lets face it all these problems are probably more related to the cable than anything else Yes, I bulk-bought a few dozen risers with cables and tested quite a few of them and some cables don't contact with the riser as well as others so some cables get warm, others get hot while most remain cold. I can't see anything that would imply poor contact but it's always the white plastic part that gets warm. However, I always only had warm cables with non 6/8 pin powered cards mining something power hungry like scrypt (oh cointellect). Oh yeah power supplies... when I started of course I ordered multi rail PSUs (EVGA SuperNOVA NEX650G) and they turned the hell off as soon as I started mining with 4 cards or more. Then I sent them back and got two single rail PSUs (XFX PRO 650W) which are louder than all my cards combined so I decided not to go lower both in size and quality than EVGA SuprNOVA G2 850W and 1300W PSUs which are amazing and have 10 year warranty on them iirc. |
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I'm not a Monero holder, but I occasionally trade it and would be very interested in knowing what you're talking about. Please provide some references.
All I know is what people are whispering and that is that a company called Moneero ( https://moneero.com/en/) has issued a cease and desist notification to Monero. i.e Basically Monero has 14 days to shutdown voluntarily or be shutdown by the law. Interesting, so Moneero is a mobile money system, based on open technology, and accessible through all channels. founded in 2013. I can see why they are pissy but I'm not sure who exactly they are sending the C&D orders. |
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also avoid using the sata-molex cable as it can burn... don't put more than one card per cable (or molex grape whatever it is called) or it can burn don't use a cheap psu, or it can burn. probably better actually to buy several small good psu than a big one or it will burn... in summary: there are non negligible chances it will burn Whatever hardware you choose to use in your rig, its hostname should be firehazard.yourdomain.com Yep!  To be fair a 750 Ti which doesn't have any 6/8-pin burned this, cards which can pull additional electricity from 6/8-pins are not as likely to burn it if you only put 1 card per cable as said above. |
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Are there any plans for this coins?
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We're still at it? Fine.
I think there's market for both open and closed source miners. SP_ also have his Spread and Cryptonight miner locked behind a 0.1-0.1 BTC donation-wall and if I had to guess he did alright with them. Now I only have a couple of rigs left and I'd still be interested to see what for-sale miners are out there. Granted, I'd be much more interested in miners that take a cut instead of gambling with paying upfront but still. Btw, I have no idea about the legalities but why don't open source coders have code added into their fork that mines a few shares to a donation proxy which people could chose to modify or even disable (being open source)? I'm sure a lot of people wouldn't disable it (even if they knew how to).
Anyway, let's be realistic and admit that everybody who buy mining rigs, optimize miners, buy ASICs and so on are doing so for the same reason; to have a bigger slice of the pie. And as long as there will be talented coders working on optimizing miners there will always be faster miners. If they distribute their work for free then every miner will have the same slice of the pie as they did with the older miner. And there are plenty of miners around the word who use these softwares without even knowing about this thread or they might not even speak English. Those people will not contribute which is also a big push towards closed source solutions. A few days ago 98 miners (with who knows how many cards in total) used SP-MOD just on yaamp alone. So basically every nvidia miner out there have the same speeds so they share the same amount of the pie. SP_ announcing that he's going to work opencl for a while pretty much means a lot of his nvidia optimizations will get negated if he does the same optimizations for AMD because then again, everybody with nvidia will have an even smaller share of the pie as AMDs get faster. Which is an understandable choice, my point is that profit is always about the slice of the pie in mining. It's bad enough how BTC value changed while electricity prices remained so eventually more and more miners with expensive to average electricity prices will be forced to give up mining even with the open source approach because they can't pay the bills - let alone hit ROI. As a biased and naturally greedy miner I, for one would much rather invest in a private miner that is profitable than potentially turning my rigs off in the future because I don't have access to cheap electricity. We can demonize ASICs, multipools, private kernels, farms with free electricity all day long but all of them will happen regardless and I think there's nothing wrong with anyone's efforts to making legit profit.
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Coinmarketcap is a decent site... you just have completely ignore the market cap figure. Not because of the site but because that is a completely meaningless number in crypto. Sort coins by liquidity (24h volume) to see what's what. Although it would be nice if we had liquidity figures for longer periods of time. The guys who made that coin premined it then had the site coinmarketcap promise (in advance / before launch)
that they would add the coin with premined coins considered as part of the "Cap"
That is how it should work; all coins premined/mined/ico/swapped/whatever should be part of the cap, because they are available, exchangeable coins even if a dev swears he won't touch the premine. |
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A bit off topic but I picked up a GTX 970 (Gigabyte Windforce 3x) only to realise the TDP of this card is not 145W but 250W. With stock BIOS, 100% power target and +160 Mhz core OC it draws 234 watts from the wall mining groestl (which seems to be the hungriest non-scrypt algo) on a 80+ gold PSU. It seems its efficiency plateaus around 40-60% power target limit depending on algo:
I have the same card and it draws 170 from the wall on Quark. I'm not sure why it would draw 250w, it's the same architecture, unless they boosted the core voltage (the vcore is the same as my other cards). Are you using a wall meter? I noticed there is a lot of headroom as far as the TDP on the cards, but they don't draw that much, at least mine don't. It's an OC version, should have added (GV-N970WF3OC-4GD). The voltage is 1.212 and with +160 Mhz it boosts to 1476 Mhz. I measued with a watt meter at the wall. Same card draws 242.97W in a stress test in this review: http://www.tomshardware.com/reviews/nvidia-geforce-gtx-980-970-maxwell,3941-12.htmlSo from Gigabyte both the OC and Gaming editions have a factory increased max TDP of 250 watts. Not sure if that makes me happy though. I wonder what a 145w TDP 970 does but it seems most people have the 250W cards. |
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A bit off topic but I picked up a GTX 970 (Gigabyte Windforce 3x) only to realise the TDP of this card is not 145W but 250W. With stock BIOS, 100% power target and +160 Mhz core OC it draws 234 watts from the wall mining groestl (which seems to be the hungriest non-scrypt algo) on a 80+ gold PSU. It seems its efficiency plateaus around 40-60% power target limit depending on algo:  That is a 68-75% decrease in efficiency depending on algo compared to stock settings which is huge! This is important when profits are barely above electricity, for example if you pay $0.14 per kwh for electricity, going with yaamp x11 payout figures (which are not very profitable) one of these cards would earn 0.00371 BTC on stock settings while it would earn 0.01652 BTC after electricity at 40% limited power target in a month. On the other hand with more profitable coins/algos like quark, it's worth it to go full speed and overclock because it would end up earning more (0.08967 BTC on stock vs. 0.13118 BTC overclocked in a month). I thought it was quite interesting. |
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Do you ever heard about Mangocoinz...the altcoin which can let us mine with Android and Iphone...my question is there any dev who copy paste this idea into new altcoin creation with same concept?
Mangocoinz 'mining' was based on the motion sensor of the phone, phone moves, you get coins until you reach your daily mining limit which probably also means it's centralized, not sure. But the problem is that it is relatively easy to modify APK files so for example you don't need to move, it just generates coins without doing anything. Or you could emulate dozens of phones on a computer and generate all the coins you want so the system cannot be trusted. They are crappy! Mining them in your phone probably is just for fun! Ppl wouldn't buy the shitcoins! You'd be surprised: https://bitcointalk.org/index.php?topic=762060.300 |
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