Quick question, is there a CPU-mining program that can handle variable Scrypt rounds?
Edit: aside from the built-in miner, which is significantly slower.
if everyone is using the same software ot mine, the fact that it is slower will be irrelevant, as noone will have the advantage. Not if someone modifies the scrypt routines in cgminer to work similar to how it works in the built in yacoin miner. No contest. I give it a day at most before that happens with this coin. |
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no fees on my BTB exchange bro  He's talking about the network fee for transferring BTB, not an exchange fee. |
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I can't mine and dump CNC fast enough. :p
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I'm very interested. Add me to the list of someone that can run a pool, help with some development in some way, etc.
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I do agree that launching a new coin should be made public atleast 7 days before the actual launch. Preferably couple of pools set up and an exchange to support it. Distributing the binaries and sources in a AES encrypted 7zip or rar package and finally revealing the key at specific already widely known time.
We just haven't seen this method yet, hopefully it comes the standard some day.
Even fairer than that, would be to launch the coin but only on a 'testnet' so people could practise mining it etc. You could even argue every coin is a scam coin for not doing these things. public mining test. this follows good SDLC practices. Provide a User Acceptance Test of the cin. Give it a window of one week, gather data and release it. I like it! Agreed. I would get behind supporting these kinds of recommendations. Have like a seal of approval from the community to any coin that is launched in a way that observes these recommendations. |
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Why set difficulty at 0 if the purpose of the bitbar is to be very rare and hard to get? Creator couldnt have been so naive  Let's look at some other coins: Feathercoin launched with difficulty 0Terracoin launched with difficulty 1 (just as low as 0 in effect) Chinacoin launched with difficulty 0Novacoin launched with difficulty 0etc Are you seeing a pattern yet? Please stop trolling Indeed. All scams. To many people that you ask, BitCoin itself is a scam. A bunch of geeks making money off of running software on their computers. I think what we are witnessing is the evolution of altcoins. BitBar I believe is a step forward from FeatherCoin/ChinaCoin/ByteCoin as it brings something new to the table. Not just a simple pump and dump clone. |
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The difficulty for Feathercoin was also at 0 at launch. In fact several coins launched that way. 3 million Feathercoins were mined in the first day (there are currently 6.4 million FTC as of 5/5/13). 2 million PPCoins were mined in the first day. This makes BitBar's launch very similar to other launches of established coins with a trading market behind them.
So you KNEW the problem had occurred with other launches - so did nothing to fix it? Smells more like a poor attempt at justifying an effective pre-mine than a genuine confession of ignorance/incompetence. Here's how you should launch new coins: 1. Announce the launch and provide downloadables at least a day before it gos live. 2. Start off with a reasonable difficulty. Not exactly hard to work out. But of course then there'd be no pre-mine to sell off - which would defeat the whole object of starting a new coin I guess. I agree with you there 100%. I did not launch the coin, however. We can put the evidence out there, and let the community and the larger market decide. I do like the BitBar concept a lot, and it has technicals and psychological aspects to it that the other recently launched coins did not have (which, may not be saying much..feathercoin/chinacoin would have never become what they are had human greed not been human greed. At least BitBar brings something new to the table). |
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Smart to create a self-moderated thread so you can remove all the scam accusations. Anyway, enjoy your scamcoin  No, only to remove useless posts like this. This is as useless as me saying "BITBAR IS THE NEXT GOLD 2.0, BUY NOW!!!". No solid information. subSTRATA to his credit has put some information forth, and I've addressed it to the best of my ability. He did have some good points. Yes, there was a small premine that has been honestly addressed from what I can tell (bounty is available for the exchange), and the difficulty at launch is similar to other altcoins like Feathercoin. |
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It is less scam than some other altcoins but it is still a scam. 1. 60 blocks after the genesis block were premined 2. Difficulty for the first 735 blocks was so low that it can't even be shown on the explorer 3. For the premine period, 59.644201 BTB were generated in little less than 4 minutes 4. For the difficulty under 0.001 period excluding the premine period, 600.324139 BTB were created in little more than 20 minutes http://btb.cryptocoinexplorer.com/chain/BitBar?hi=736&count=737Addressed here. Nice attempts at justifying the scam, but they won't work except with complete retards. It would be cool to see judge reaction on your saying "I killed the guy because that other killed some other guy earlier and ended (seemingly) unpunished". If you are going to criticize the difficulty at launch, then it's a larger issue with the launch of many/most altcoins (early adopter advantage). Why single bitbar out? The premine appears to be an honest mistake and the guy isn't profiting off of it. |
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It is less scam than some other altcoins but it is still a scam. 1. 60 blocks after the genesis block were premined 2. Difficulty for the first 735 blocks was so low that it can't even be shown on the explorer 3. For the premine period, 59.644201 BTB were generated in little less than 4 minutes 4. For the difficulty under 0.001 period excluding the premine period, 600.324139 BTB were created in little more than 20 minutes http://btb.cryptocoinexplorer.com/chain/BitBar?hi=736&count=737Addressed here. |
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Correction: Huge rewards in the first 2000 blocks that were mined in 12 hrs. Which does not differ from other coins like Feathercoin, where ~3 million were mined in the first 24 hours. |
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BitBar "Premine" allegationsIt is always helpful for new coins to be analyzed and vetted out by the community. In doing this, subSTRATA has brought up some potential issues with BitBar's launch. Let's break down his allegations and put this to rest. 1. 60 blocks after the genesis block were premined This was indeed true, as a testing error. See here for more information, as well as the tester's admission of error. Those bitbars are being donated as a bounty towards the exchange. See the official launch topic here.2. Difficulty for the first 735 blocks was so low that it can't even be shown on the explorer Several coins launched that exact same way:
* Feathercoin launched with difficulty 0
* Terracoin launched with difficulty 1 (just as low as 0 in effect)
* Chinacoin launched with difficulty 0
* Novacoin launched with difficulty 0
Let's look at the Feathercoin launch, for example:
* Exactly 24 hours after launch (2013-04-17 21:48:40) 2,898,850 Feathercoins had been mined
* There are currently 6,415,200 Feathercoins as of 5/5/13 at 3:20PM EST. This means that around 50% of the total Feathercoin supply as of 5/5/13 was mined in the first 24 hours.
* 20,000 Feathercoins were mined in the first 8 minutes.
* Feathercoin also started with difficulty of 0, just like BitBar.
Beyond Feathercoin, 2 million PPCoins were mined in the first day.
This makes BitBar's launch very similar to other launches of established coins with a trading market behind them. 3. For the premine period, 59.644201 BTB were generated in little less than 4 minutes See point above. Current BitBar difficulty and block reward is adjusting predictably to handle the load.4. For the difficulty under 0.001 period excluding the premine period, 600.324139 BTB were created in little more than 20 minutes See point above.So, what's it worth?Well. The value of any cryptocurrency (and any currency in general) is really what people want to pay for it. However, RustyShackleford1950 has a good analysis of potential BitBar value using historicals from a few other coins: If we want to estimate the exchange value let's compare it against litecoin:
Litecoin:
Network Hash: 16,759,472 kH/s
Total Supply: 17,392,400 LTC
Current value: 3.14 USD/LTC
Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 815 LTC/BTB.
Which seems insanely high (24BTC/BTB). And it is, it doesn't take into consideration adoption, reputation, age, etc.
So compare it to one of the lamer coins of recent times, feathercoin;
Feathercoin:
Network Hash: 1,133,753 kH/s
Total Supply: 6,505,600 FTC
Current value: 0.22018 USD/FTC
Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 315.8 FTC/BTB.
Which would value bitbar at about $70 USD/BTB (0.65 BTC), which seems very low (probably due to the problems feathercoin currently has).
So there's a rough high and low point for the exchange to base the price from.
My personal feeling is that around 10 BTC/BTB is a fair price IN THE LONG TERM. Short term price, anywhere between 1.5BTC/BTB - 2.0 BTC/BTB.
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I wanted to put together this info thread on BitBar to help others learn about it (note, I did not release the coin). Please feel free to reply to it and suggest anything that could be added or modified. I've modeled this page after the LiteCoin information thread here. The [BTB] BitBar Information Thread What Makes BitBar different than other AltCoins? BitBar is a cryptocurrency designed to be extremely rare and thus hold a larger store of value per unit than conventional cryptocurrencies such as Bitcoin or Litecoin. It is based upon the Novacoin codebase which uses Scrypt as the hashing algorithm and the fast continuous exponential difficulty adjustment/reward of PPCoin. This makes it highly ASIC resistant, meaning specialist mining equipment built into chips is very costly to manufacture efficiently. (thanks mr_random) Technical: * Proof of Stake + Proof of Work (based off of Balthazar's Novacoin code as well as the RareCoin and Fairnova projects) * No premine like Novacoin has been accused of having * Dynamically adjusting difficulty and reward calculation Psychological: * Ultra rare * Is the first altcoin that is trading at a higher value than BitCoin per unit (correct me if I'm wrong) * Novel "bar" concept -- breaks from the "coin" idea. Bar concept holds meaning in people's heads as inherently more value than "coin", i.e. "gold bar" vs "gold coin" General BitBar Info BitBar Homepage - bitbar.co The BitBar Forum - http://bitcointalk.org/index.php?topic=196125.0 BitBar @ Reddit - reddit.com/r/bitbar Downloads: Windws QT wallet - bitbar-qt_v04.3.004.zip
Source code - Github.com
Beginner's guide to mining Bitbar
reddit.com/r/bitbar/comments/1v2rn7/beginner_guide_to_mining_bitbar/
BitBar Block Explorers
btb.cryptocoinexplorer.com/
BitBar mining calculators
coinchoose.com
BitBar Exchanges
Cryptsy - cryptsy.com
bter.com - Exchange / Deposit / Withdraw
Google Docs: Spreadsheet Discussion
BTB Financial Sites
None yet.
BitBar Mining Pools
btb.mastermining.net - btb.mastermining.net
ispace - ispace.co.uk
P2Pool Support - Will be possible after block #9689 - See here for more information.
SOLOMINING BitBar - NEED LINK
Mining "Hardware and HowTo" Guides
Consolidated Litecoin Mining Guide for 5xxx, 6xxx, and 7xxx GPUs (applies to BTB as well) - https://bitcointalk.org/index.php?topic=117221.0
Mining hardware comparison (from LTC) - https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison
Other Interesting BitBar threads
Coming soon... |
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To be honest, I found the official explanation on the bitbar.biz site rather... lacking. Can anyone tell me why the hell this is special?
From a technicals perspective: POS + POW, wasn't premined like Novacoin, continuously adjusting stake/difficulty. From a psychological perspective (just as important): Novel "bar" concept, ultra rare, will be the first "coin" to hit the exchanges with a value per unit greater than 1 BTC (someone correct me if I'm wrong with this). I think that alone will get people's attention. In short, this offers something new on both fronts that FTC and CNC didn't offer. |
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Registrations are closed on the hub (probably to limit having too much % of the hashpower), so it's a nice opportunity for other pool owners to make the second btb pool.
Working with sido to get his modified mmcfe and pushpool running over here. |
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there is 59.644201 BTB Bounty for first high quality exchange.
vircurex/cryptonit/bter class prefered.
also:
An escrow holder is needed, somebody trusted, so I can transfer BTB's.
Exchange guy's need to know, the bounty is real.
Cheers! That's the kind of bounty we need to get this done!! I think it should go to either BTC-e.com (first choice), Vircurex (second choice) or Bter.com (third choice). The great news with that is that after the exchange is in place, we can then get it up on coinchoose and dustcoin (or at least coinchoose), since we already have the block chain explorer as well. -Robby |
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Why stop at bars? Let's do BitIngots.  Just registered that a namecheap... thanks. JK BitMine... why own a bar...when you can own... a whole MINING COMPANY??? |
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10BTc withdraw 30 minutes "processing" and nothing yet... Getting Pissed... If i had broke it up into 2BTC at a time I would have it by now.
I finally got notification by bitcoin client after an hour of waiting. If you withdraw more than 10BTC break it up into 3 or 4BTC withdraws to get it instantly instead of hours later. Good advice, thanks. |
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Trying to pull out 30BTC...been sitting in "Processing" now for over 15 minutes.
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