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New Bounty
Myriad Geocaching App
Bounty Address: MFe7XFxwTQ5b3hNovQaasWrf1rBYxLMwYQ
The app should be a dual website-Android app just like Coinding.com but with our own branding of course!
We want to create use cases and adoption of Myriad. Plenty of people would love to do some real-life treasure hunting with Myriad!
Donate if you wish to see someone make this.
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What does 8Bitcoder say to the solution from iamphoenix? He's the developer of this coin....
Actually this is idea of SlientBit and me.
IDEA:
Would it be possible to implement a time constrained reward system, where the amount of coin generated by the block depends on how much time it took from the the 1st confirmation of the previous block and it's own 1st check?
This way, no matter how many blocks were mined, the reward would be the same on a time basis. Multipools woudn't be a problem, because if they find 10 blocks in one minute they will get the same reward from those 10 blocks as the small pool that only found 1 block in the same amount of time.
In fact, this would probably remove the multipools altogether (coin not profitable when compared to others, never gets selected) or keep them on the coin forever (coin is very stable because price/availability is a function of time spent finding blocks and not hashrates used)
Is this feasible?
I have recently came up with the same idea, but before implementing it worth to think about some moments: 1)In normal mining (without multipools) it is convinient, and statistically legitimately when two or even three blocks are found faster than 2:30, and then difficulty adjusts and block finding requires more time, than 2:30. So, such reward-limit system must start only after 3-4 simultaneously found blocks, in order not to affect regular mining process. And it will make some problems for current alghoritms which calculate profitability (but it is a headache of multi-pool developers  ). 2)Ok, let such reward-limit system is ready and limits the reward for fast-generating blocks. So, multipool comes into net, grabs 5-6 blocks and then leaves. The difficulty is high, and regular miners have to wait a lot of time for next few blocks. What's next? We have two options: a) In case the reward for this blocks is depending on time of their generation and can be higher than 1000 MYR, at some point it may be profitable for multipool to come again and take this blocks. It's is bad, because miners will not receive anything at all. However, in this case, the number of daily generated coins is strictly as in coin specification and inflation is under control. b) The reward for long-generating blocks doesn't depend on time of their generation and it is strictly 1000 MYR. In this case situation for regular miners will be the same as now (they receive the same small amount of MYR), but multi-pools will receive almost nothing. In this case, the number of daily generated coins will be less then in coin specification. 3)How to calculate the time between blocks correctly (I don't know technical details)? Which time is used, when block is solved? UTC from server or local machine time? Is it possible to make some fraud changing time on local machine or even server if block reward depends on it? We have to think about it 4)As I know, when hash for block is being solved, it includes the hashes of all transactions of this block, but in case of time-dependent reward during solving this transaction will change permanently in time. How it would affect the statistics of coin generation (now we have two variables: nonce and reward-transaction hash)? 5)Multi-pools are the part of cryptocoin world, so if we are "a coin for everyone" we have to find the ways in which multipools will have the same rights as asic-users and regular miners. Or in some time we will see the birth of another coin "for everyone" which solved this problem and our coin will not be the leader. So, in conclusion I see this idea for reward-limiting system for fast-found blocks is very prospective, but we have a lot to discuss. UPD. I have a workaround proposal. What if we don't change the total reward for fast-generating blocks (leave it 1000), but part of it will be put on public account to pay bounties? For example if 10 blocks instead of 1 block were generated simultaneously by multi-pool in 2:30 , multi-pool receives totally only 1000 MYR and other 9000 MYR (proportions might be changed) goes to bounty-account ? It will solve a set of our problems. But anyway we are interested in answer for this question. Now we have only a small answer of foodies123 and we are waiting for answer from devs.
Why don't you like the idea with reward limit for finders of fast-generated blocks, and sending the rest of coins to some community-chosen address?
Not feasible because that address is going to be controled by someone and doubt shall be cast on it. At most we can destroy the coins by lowering coinbase to 1 during fast block times but I don't know how well that can be implemented tho. I believe the dev is on a business trip in a different country if I'm not mistaken? Give him some time to respond |
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foodies i think youl be happy with this:
Proposal: Alternative solution to the multi-pool abuse and a check&balance to the fairness of coin distribution per Algorithm. Without changing difficulty re-targeting
This way we do not have to worry about the legitimate concern held fast by Foodies; in that changing the difficulty re-targeting structure currently in place.
(Each Algo = Difficulty re-targeting Per Block + 10 Block Lookback)
Simple:
Coins per block for AlgoX = 1000 if change in average difficulty previous 10 blocks (average difficulty used in the 10 block lookback) is not > than the X%.
IF previous 10 blocks (average difficulty used in the 10 block lookback) IS > than the X%.THEN Coins per block for AlgoX = 1000 - [absolute value of] X% change in change in average difficulty previous 10 blocks (average difficulty used in the 10 block lookback).
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This will allow the market to handle the multi-pool problem because a multi-pool which targets MYR for profitability will have to also have to take into account that insta-mining 9+ blocks will not be profitable. Instead the multi-pool becomes our best friend in that if an algo is more profitable than bitcoin it will just mine 1 or 2 blocks because if it targets an algo with 1000+X the average difficulty of the last 10 blocks the % of coins will decrease proportional to the resulting massive increase in difficulty it will cause by doing so.
Also the 20% 20% 20% 20% 20% will be supported because instantly mining blocks will not occur as often.
This will also help but not entirely solve with the problem of a POSSIBLE (i dont know if that can happen) fork of the entire coin due to 9+ blocks of the same algo in a row rather than each algo solving blocks regularly.
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If you dont want to use average % of difficulty change over previous 10 blocks we c We can substitute it with the variable of TIME per block.
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Coins per block for AlgoX = 1000 if change in average TIME per block for the previous 10 blocks (average TIME used in the 10 block lookback) is not > or < X% change in average TIME per block for the previous 10 blocks - 2.5minutes. ... ... ... ..
..........................................
We all know there is a problem with a multi-pool mining 10 blocks of the same algo in a row near instantly. This way the difficulty retargets as usual so we dont run the risk of a frozen algo (as the 10block lookback intended).
Foodies it took me a while but i now see how important the 10block lookback is and the risk of changing it resulting in an impossibly high difficulty. thank you.
So what threshold would you recommend for the percentage change of difficulty that determines if a block gets less coin reward? |
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we should replace all algos with x11 x12 x13 x14 and x15 implement darkestsend and cut inflation to the current amount mined and put pos 1% per decade also a multipool that mines all coins at once and sells them to buy all myr on the market in one fell swoop, that way we can sell our myr at whatever price we want.
I don't understand, why do you bring everything to such an absurdity? The multi-algo system of Myriad is great and has many advantages compared to existing coins and such system is very prospective. But the coin system is only basis, on which all other things are being build. The fact is good basis is necessary but it is not sufficient. It's like you make a car with great and powerful engine but with wooden seats and square wheels. Of course buyer will choose the other more comfortable car with a less powerful engine, but with round wheels and leather seats. Don't you agree? My point is that we have to find and implement best solutions and innovations that are good not for pump&dump day-traders or people who want to make fast money (POS, short halving period etc), but for "average Joe", who will use MYR as cryptocurrency in future (i mean darksend or other interesting features), as soon as they appear in market. Or one day there will be some other coin with multi-algo which will include this innovations, and people will use it instead of MYR, because it is more convinient and has more feautures. Do you understand it? This is just evolution, the competitive struggle. You are better - you survive. Comprende, amigo? The ability to send money anonimously (like darksend technology) is really necessary for cryptocoins I think. That's one of the points, why DRK become so popular. Why don't we wait until the DRK bubble is done crashing and the Darksend feature actually works and is open-sourced before panicking to provide this feature. |
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Nice job getting on Bitfinex if the rumours are indeed true.
One thing I am very interested to see is how the market will react after this excitement as you have two clashing entities -- the AML/Verification laws for Bitfinex vs. the driving anonymizing concept of Darkcoin.
A coin specifically designed to obscure identity and maintain privacy (Darkcoin) will now be traded on an exchange that requires verification of identity if you wish to enter or exit with USD (Bitfinex).
Many will say that no identity is required for DRK/BTC or DRK/LTC markets, and you can still play DRK/USD, but who will cash out USD? Will the DRK/USD market explode or will it remain relatively quiet on Bitfinex as the "elephant in the room" lingers?
In no way is this post hating on Darkcoin. I just find it extremely fascinating. I objectively believe cognitive dissonance will drive traders and the markets wild on Bitfinex and one side will win out. Will it be Darkcoin?
A very fun (and necessary) clash is about to unfold. Good luck!
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Whos the ones who keep crashing the price on this coin. Was going strong into the 600s now 5,4,3 and soon to be 1s as in mid 2s now. This coin is so under valued. Then again no doubt people cashing out for Bitcoin rise. Ill just keep on buying up the coin in low prices and wait.
Me and you both. I understand some might panic if they needed to cash out to BTC for whichever reason, but there is no need to worry about longterm price. Buy when everyone else's attention is on DRK and the flavor of the day. |
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Some amazing outreach just happened over on our subreddit /r/myriadcoin. Full story: http://www.reddit.com/r/myriadcoin/comments/26srle/my_grassroots_myriadcoin_experiment/TL;DR: /u/meat_body_soul just gave a homeless man a bunch of items he bought at a Dollar Tree, then also introduced him to Myriadcoin, how cryptos work, and a paper wallet. He then posted the public wallet of Steve, the homeless man, on Reddit, and more people have donated MYR to Steve! Steve's public address: MSUJ8GvGGU96PEvwPNrS3H3JE5ZNomK4vy       |
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They are interesting from the standpoint that they appeal to different miners. Each current algo attracts a different segment. ASIC, GPU, or CPU miners pick their algo based on efficiency or advantage. CryptoKnight in particular appeals to CPU miners because there is currently no GPU option that I'm aware of. CryptoKnight and Keccak look interesting. Any possibility of adding new algos in the near future?
Just for the sake of adding algos? What do any algos out there do that the current Myriad algos cannot? It needs to be more than interesting to undergo the hardforking and accompanying complications required for this. You mean CPU option? Qubit is waiting for you Also, miners should find appeal in Myriad's different algorithms. They aren't well known. You should look into them more. |
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Guys I have a revolutionary idea that could really bring this coin to a top 10 market cap. We should replace scrypt with X11, add POS + multipool, cut the inflation by 50%, and implement darksend. Trust me guys, this could be huge.
we should replace all algos with x11 x12 x13 x14 and x15 implement darkestsend and cut inflation to the current amount mined and put pos 1% per decade also a multipool that mines all coins at once and sells them to buy all myr on the market in one fell swoop, that way we can sell our myr at whatever price we want. He is right at some point, bringing "hype" algos will maybe shake things up. People love hype, and everything is based around it, but as so, we can then change algos all day long...who will follow it...? As a miner, electricty is costly in Europe, and don't know where not, I would change one of the most power hungry algos to more effective ones, so everyone can get Myr with less expenses Check out Myr-Groestl |
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Also I propose to make some "wish-list", in which community members can offer their ideas for improvement, and that would not be lost on the 200 pages on the forum. For example I think that we certainly have to make our analogue of DarkSend function to make it possible for really anonymous payments,which was the original purpose of cryptocurrencies.
Interesting idea |
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I've seen many good articles on Myriad lately and everything about the coin sounds great. So what keeps holding down the price?  Myriad started in a downtrend and now day-traders are trying to find where the bottom is because the cheaper you can get Myriad the higher the profits when the uptrend begins. Day-traders working the markets use both the highs and lows of coins to their advantage. In fact, I imagine some of them that follow Myriad in this thread sees the community panicking about multipools and "inflation" and use this to their advantage to push the price lower, which amplifies the panicking in a positive feedback loop. |
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CryptoKnight and Keccak look interesting. Any possibility of adding new algos in the near future?
Just for the sake of adding algos? What do any algos out there do that the current Myriad algos cannot? It needs to be more than interesting to undergo the hardforking and accompanying complications required for this. |
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Any possibility of adding new algos in the near future?
Just for the sake of adding algos? What do any algos out there do that the current Myriad algos cannot? |
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I think that the script is slowly but surely killing the coin, or rather kill her Asics.
What is killing the coin is other coins pulling all old tricks from the book - decreasing coin supply, going pos, switching algos etc. etc. while MYR is not doing anything to garner heavy investor interest. Why should I invest in MYR if only 14% of all coins have been mined and miners dump a ton each single day? This is a fast paced game now, it's not like the old times when you could afford 2 years to develop. You need to ride the wave and stay on top of it or 50 other coins will take your place and you will soon be forgotten for good. What is killing the coin is other coins pulling all old tricks from the book - decreasing coin supply, going pos, switching algos etc. etc. Oh, so coins are completely changing their entire identity to please "heavy investors" AKA pumpers? I'd say 90% of coins that change their entire identity to play the "fast paced game now" will absolutely fizzle and die before you know it. You know why? It's because the coin devs created a clone coin, then realized they didn't make it with the latest pump and dump trend (country coins, POS, multipools, POW+POS, X11, now anonymity and stabilization funds), so they change it to join that trend so they can cash out and move to making their next coin. It is obvious when this happens that the dev has broken all commitment to the ideals of the coin that made him want to create it to begin with. You think people walking around with bags of bitcoins are going to heavily invest in shitcoins that flip-flop on their original design to catch the moon train? Yeah, sure, maybe a day or week TOPS to prey on stupid people. Why should I invest in MYR if only 14% of all coins have been mined and miners dump a ton each single day? Because you imagine it having a higher value in the future. Because you've done more research into Myriad beyond checking the price on Mintpal and letting it create an image of what is happening below the surface instead of checking it for yourself. Also: 14% of all Bitcoins = 2.94M. When only 2.94M Bitcoins existed, the time was late May 2010, when the 10,000 BTC pizza transaction took place. Bitcoins were less than $0.01 each. Imagine all the people who used your same argument then. The mindset that miners dumping will cause the valuation of your investment to do nothing besides decrease is such a suffocating perspective. You tend to frame every situation in a coin's life as one incapable of overcoming this idea of dumping instead of assessing the value and demand it would bring. This is a fast paced game now, it's not like the old times when you could afford 2 years to develop. You need to ride the wave and stay on top of it or 50 other coins will take your place and you will soon be forgotten for good. Is it a fast-paced game now? Really? If coins are playing any games, it's who can shoot themselves in the foot first. What do all coins have in common that played these fast-paced games that Myriad should play: country coins, POS, multipools, POW+POS, X11, now anonymity and stabilization funds. They all are forgotten or will be forgotten before they ever really began. Maybe Myriad should stick to its own weapons and not waste time with playing fast-paced games that have proven time and time and time and time and time again to expose coins for what they really are (pump chasers) and leave them dead to rights. |
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I like the new website look by the way
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Can you state for me concisely in a sentence the general point that you are trying to make? Things have gone all over the place the last few pages. Is your point: Multipools will continue to kill the exchange rate value of Myriadcoin and ruin mining for Scrypt while working towards ruining mining for Skein, Myr-Groestl, and Qubit? |
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Get Myriad on CoinPayments.net [Giveaway included!] CoinPayments.net is a major altcoin payment processor that provides a grand leap forward in merchant adoption. Contest Thread on RedditDetails (as of May 29)Voting ends May 31st ( 2 days left) Each vote costs 0.001 BTC (~200 MYR @ 0.00000500 MYR/BTC)Vote here: https://www.coinpayments.net/voteVoting Results: https://www.coinpayments.net/vote-resultsMyriad's position: 5th [64 votes]Leading coin: UltraCoin [100 votes]To get first place: 36 votes |
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Look what came today:  |
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