Hi guys, just chiming in with some news thanks to neuroMode, there's a new game available for Myriad! http://cryptocoinfaucet.appspot.com/games/rpsIt's a Rock, Paper, Scissors betting game!!! The current max bet is setup to 50 MYR, try not to hit it too hard. Part of the earnings will go to the Myriad foundation. this. this game is fucking fun. I am giving away 100 MYR to the first 100 Facebook followers. I just posted this game on our page (facebook.com/themyriadplatform). Since max bet is 50 I think it's a perfect way for the facebook users to use their 100 MYR ^_^ |
|
|
|
Gentlemen. Coin generation rate means nothing. Do you understand initial pricing on exchanges?
2,880,000 MYR per day x 0.00000500 MYR/BTC = 14.4BTC buy support to maintain 500 MYR assuming every miner dumps every day.
14.4BTC buy support. That's it. You can start to worry when the daily Mintpal volume approaches this number.
How do you increase the value of a coin? You give people reasons to inject their BTC in it. You don't artificially lower the coin generation rate. The innovation alone in this coin gave me a reason to inject my BTC into it on Poloniex. Now, we are doing as much as possible to build projects around Myriad so people feel confident acquiring BTC at a healthy rate.
If you artificially lower the coin generation rate, the price may "rise" initially to a proportional level (which is morally objectionable) but then you still need the same number of BTC to sustain it at that level. The artificial price rise is equivalent to a pump and offers nothing to the coin except unfair advantage to everyone mining this coin in its early days.
If you invested 1BTC into Litecoin and 1BTC into Myriadcoin, you would need both to increase 100% to get 2BTC despite their relative price difference against BTC. LTC would need to jump from 0.025 LTC/BTC to 0.05 LTC/BTC while MYR would need to jump from 0.00000575 MYR/BTC to 0.00001050 MYR/BTC. Using this logic, I would actually argue that LTC's coin creation rate is way too high because we've only seen it hit 0.05 LTC/BTC once on a glorious pump. There clearly is not enough buy demand to sustain LTC anywhere above 0.03BTC
Argument over.
Made a couple edits to this, quoting for visibility. |
|
|
|
Foodies, add his stuff pronto! |
|
|
|
|
Gentlemen. Coin generation rate means nothing. Do you understand initial pricing on exchanges?
2,880,000 MYR per day x 0.00000500 MYR/BTC = 14.4BTC buy support to maintain 500 MYR assuming every miner dumps every day.
14.4BTC buy support. That's it. You can start to worry when the daily Mintpal volume approaches this number.
How do you increase the value of a coin? You give people reasons to inject their BTC in it. You don't artificially lower the coin generation rate. The innovation alone in this coin gave me a reason to inject my BTC into it on Poloniex. Now, we are doing as much as possible to build projects around Myriad so people feel confident acquiring MYR at a healthy rate.
If you artificially lower the coin generation rate, the price may "rise" initially to a proportional level (which is morally objectionable to even do in the first place), but then you still need the same number of BTC to sustain it at that level. The artificial price rise is equivalent to a pump and offers nothing to the coin except unfair advantage to everyone mining this coin in its early days.
If you invested 1BTC into Litecoin and 1BTC into Myriadcoin, you would need both to increase 100% to get 2BTC despite their relative price difference against BTC. LTC would need to jump from 0.025 LTC/BTC to 0.05 LTC/BTC while MYR would need to jump from 0.00000575 MYR/BTC to 0.00001050 MYR/BTC. Using this logic, I would actually argue that LTC's coin creation rate is way too high because we've only seen it hit 0.05 LTC/BTC once on a glorious pump. There clearly is not enough buy demand to sustain LTC anywhere above 0.03BTC
Argument over.
|
|
|
|
Work has begun on an Android Wallet for this coin. We are not sure when it will be ready for beta testing, but it will be a fork of the Andreas Schildbach Bitcoin Wallet. So far we are working on the Java back end library for it and have cracked the 5 hash algorithms and the difficulty adjustment code. Syncing with the blockchain appears to be working.
You cracked the code! Awesome. Keep us posted. It appears you guys enjoy the challenge Myriadcoin brings  |
|
|
|
We've repeatedly stated here and on reddit/twitter that the project with bryce and blocktech is just a partenership where we give them use of our blockchain and nothing more it was also specifically stated not to confuse myr with blocktech on our official twitter we can only do so much distancing without looking like we're purposely running away from blocktech. Also there is no hard evidence that bryce has ever done anything dishonest or otherwise imoral in crypto and until that is shown without doubt there is no need for a discussion such as this one. You've sold half your myr, sorry to hear that it was a poor decision and if some tweeting did that then you need to rethink your investment strategies.
EDIT: and btw I'm not bashing on primer- for how he's talking I'm bashing on him because all he's done is declare this coin dead and the team a fail from the day we said no cpuonly algo, I suspect he's trying to fud so he can profit more but he's to damn stupid to do it right.
Later.
My decision wasn't based just on some tweets. It's how the overall picture is developing. My strategy is based on limiting risk. I sold half at a price that leaves me 1.25mil at an average buy-in price of 168 satoshis which is what I'm willing to risk at this point w/ my present uncertainty regarding Bryce/blocktech. If I didn't believe in Myriad as a whole I would have sold all of them and would have been happy to have a nice profit. You're correct in that there's no hard evidence that there has ever been any sort of wrongdoing but I disagree in regards to there being no need to have this kind of discussion now. Having that discussion after there's evidence (especially if the evidence involves myriad in some way) could be too late. If Myriad gets labeled a scam coin because of blocktech it will be a hard label to shake off. While there's no evidence in anyway that I've found to support the negative chatter I've encountered, there's also no track record of accomplishment that could give me some confidence that the chatter has no basis. It's not like this is Andreas Antonopoulos announcing the prototyping of hardware wallets. If you do any digging there's not much out there on blocktech. I've found one paper written by Kirill Gourov that is full of cherry-picked data and a couple linked-in pages. The biggest issue as I see it is that people are (unfairly) associating Bryce w/ Myriad -- that is what the public perception seems to be whether that's the reality of it or not. I hope blocktech is for real. It would be awesome to have hardware wallets, etc. But w/ all this talk and how announcements, etc have been dealt w/ I'm going to tread cautiously until I see something concrete that shows me blocktech is legit. It's what makes a market. People selling. People buying. I'm glad you're still invested in MYR... I'm still adding to my MYR holdings. I've converted all of my BTC to MYR (there's some fractions here and there, but that's all). Here's a rhetorical question: Does a crypto-currency have to be "perfect" in order for it to succeed?I wasn't invested in crypto when bitcoin was mostly associated with illicit products. I wish I was and had invested in it. In the end (well it's not the end, yet); technology and the soundness of the concept prevailed. Myriad coin could be an evolution of the crypto-currency. It's got the momentum and network effect of mass adoption. There may be cryptos with multi-algo's out there, but who's the biggest? Coblee tweeting about Myriadcoin is a big deal. You don't think so? I know someone who bought Apple stock when it was $12/share (before 3 splits) and sold it when it doubled. Just like you, he was very happy with his profits. Apple was not perfect back then. It had problems... I'm buying more MYR and hope to hold for a while.  This is nice insight. It must be stressed that a decentralized currency is allowed to be used in a decentralized fashion. Other groups/companies/people wanting to use a currency in their own way is perfectly acceptable. I must stress none of the main Myriadcoin team is screaming "buy buy buy!" with any announcements especially regarding outside projects. We are simply passing on information of other people (Bryce @ Blocktech, InvestImagine, etc) that are doing cool things with Myriad. You don't have to buy on this news, you have all the right in the world to be skeptical. Fear is the mindkiller and paranoia may set in if you are investing too much based on news. Just do your research and invest proportional to your confidence levels. I don't want to see anyone hurt by Myriad and I'm going to do my best to make sure everything is transparent as possible. |
|
|
|
Update from Volkswagon due around Monday. It is very good news.
Who are you? |
|
|
|
WeGi, we have a bounty board bug that needs fixing. Please contact me. |
|
|
|
i like your hard work and the dedication : )
Thank you |
|
|
|
New Press Article by CoinJoint (May 2) Myriadcoin and Why You Should Maybe Take Noticehttp://coinjoint.info/myriadcoin-take-notice/If you haven’t heard of Myriadcoin yet, you should have. Launched on 23rd February 2014, Myriadcoin has some unique features that make it stand out from the crowd. With recent announcements many from the altcoin community have started to pay close attention to the potential of Myriadcoin and the innovation it brings.
One of the hot topics for many cryptocurrencies at the moment is how to deal with the arrival of scrypt ASICs; hardware designed specifically for scrypt mining. Many see them as a problem due to the potential of unfair distribution. Scrypt ASIC manufactures or those who can afford to purchase some of the larger ASICs have an opportunity to mine a large of proportion of coins compared to the ‘average Joe’ with just a CPU or graphics card. When faced with a similar scenario, Bitcoin which uses the SHA256d algorithm for proof-of-work decided not to switch meaning it is now only profitable to mine using specialised hardware.
There are now many coins that claim to be ASIC resistant or have proof-of-work algorithms designed to deter these ASICs. Examples include Vertcoin which uses Scrypt-Adaptive-Nfactor or Darkcoin which uses the X11 algorithm.
Whilst these alternative algorithms may keep the ASICs at bay for a while, no proof-of-work coin is ASIC proof. If any cryptocurrency aims to be a major global currency used by millions then at some point it will be profitable to make an ASIC. If a cryptocurrency is successful and wants to be around for years then trying to play cat and mouse by changing algorithms when a compatible ASIC is released is just not viable. Litecoin founder, Charles Lee pointed out that a hard-fork to change the proof-of-work to a new algorithm would cause chaos for a coin that is widely adopted.
Enter Myriadcoin. Designed to use multiple algorithms to embrace the mining power of ASICs rather than deter them. The multi-algorithm approach gives those with a normal PC a fair chance at mining some coins for themselves.
myriadcoin_chart
The five algorithms include SHA256D used by Bitcoin, Scrypt used by Litecoin (and the majority of altcoins) as well as Skein and Groestl which are generally GPU mined and Qubit designed for CPU mining. Here is an explanation of how it all works taken from the announcement thread:
Each proof of work algorithm has its own independent difficulty.
Any algorithm can find the next block.
All the algorithms use the same difficulty adjustment method.
On average, each algorithm has the same chance of finding the next block.
Each algorithm aims for a block generation time of 2.5 minutes.
Over the five algorithms, a block should be found on average every 30 seconds.
The multi algorithm approach taken by the Myriadcoin team helps to encourage even distribution. For example imagine four miners. Two with $10,000 scrypt ASICs and two with GPUs mining using the skein algorithm. The GPU miners will solve as many blocks as the Scrypt ASICs since each algorithm has the same chance of solving the next block.
Another interesting development is the use of colored coins and the launch of Liberdade, a colored coin aimed at the population of Brazil. Bryce Weiner, the director of cryptocurrency engineering for Blocktech is heading the project and stated that Liberdade will exist as an add-on to the Myriadcoin blockchain and can be mined using the same multi algorithm principle.
Below is a summary of the latest news taken from the announcement thread:
Moolah.io is integrating Myriadcoin fully into their payment processor platform for merchants.
Bryce Weiner and Co. at Blocktech are prototyping Hardware wallets for #Liberdade, Brazillian MYR tokens using the colored coins meta-layer. They also have 4 businesses who have volunteered to assist with their Liberdade project.
ImagineInvest is meeting with a Volkswagen-subsidiary clean/smart tech company that is interested in using Myriadcoin in new Brazilian stadiums
Update! (Piezoelectrics, Pedometer wallets, and expansion beyond Brazil): Link
An online Myriad wallet service now exists: Link
Wooden Myriad wallets pre-order campaign: Link
CryptoCards.co offers $15 Myriad wallets. These are laser-etched, aluminum cold storage cards with BIP38 encryption: Link
New website preview: Link
The innovative POW structure combined with some of latest developments make Myriadcoin one to watch. |
|
|
|
New Press Article by CoinJoint (May 2) Myriadcoin and Why You Should Maybe Take Noticehttp://coinjoint.info/myriadcoin-take-notice/If you haven’t heard of Myriadcoin yet, you should have. Launched on 23rd February 2014, Myriadcoin has some unique features that make it stand out from the crowd. With recent announcements many from the altcoin community have started to pay close attention to the potential of Myriadcoin and the innovation it brings.
One of the hot topics for many cryptocurrencies at the moment is how to deal with the arrival of scrypt ASICs; hardware designed specifically for scrypt mining. Many see them as a problem due to the potential of unfair distribution. Scrypt ASIC manufactures or those who can afford to purchase some of the larger ASICs have an opportunity to mine a large of proportion of coins compared to the ‘average Joe’ with just a CPU or graphics card. When faced with a similar scenario, Bitcoin which uses the SHA256d algorithm for proof-of-work decided not to switch meaning it is now only profitable to mine using specialised hardware.
There are now many coins that claim to be ASIC resistant or have proof-of-work algorithms designed to deter these ASICs. Examples include Vertcoin which uses Scrypt-Adaptive-Nfactor or Darkcoin which uses the X11 algorithm.
Whilst these alternative algorithms may keep the ASICs at bay for a while, no proof-of-work coin is ASIC proof. If any cryptocurrency aims to be a major global currency used by millions then at some point it will be profitable to make an ASIC. If a cryptocurrency is successful and wants to be around for years then trying to play cat and mouse by changing algorithms when a compatible ASIC is released is just not viable. Litecoin founder, Charles Lee pointed out that a hard-fork to change the proof-of-work to a new algorithm would cause chaos for a coin that is widely adopted.
Enter Myriadcoin. Designed to use multiple algorithms to embrace the mining power of ASICs rather than deter them. The multi-algorithm approach gives those with a normal PC a fair chance at mining some coins for themselves.
myriadcoin_chart
The five algorithms include SHA256D used by Bitcoin, Scrypt used by Litecoin (and the majority of altcoins) as well as Skein and Groestl which are generally GPU mined and Qubit designed for CPU mining. Here is an explanation of how it all works taken from the announcement thread:
Each proof of work algorithm has its own independent difficulty.
Any algorithm can find the next block.
All the algorithms use the same difficulty adjustment method.
On average, each algorithm has the same chance of finding the next block.
Each algorithm aims for a block generation time of 2.5 minutes.
Over the five algorithms, a block should be found on average every 30 seconds.
The multi algorithm approach taken by the Myriadcoin team helps to encourage even distribution. For example imagine four miners. Two with $10,000 scrypt ASICs and two with GPUs mining using the skein algorithm. The GPU miners will solve as many blocks as the Scrypt ASICs since each algorithm has the same chance of solving the next block.
Another interesting development is the use of colored coins and the launch of Liberdade, a colored coin aimed at the population of Brazil. Bryce Weiner, the director of cryptocurrency engineering for Blocktech is heading the project and stated that Liberdade will exist as an add-on to the Myriadcoin blockchain and can be mined using the same multi algorithm principle.
Below is a summary of the latest news taken from the announcement thread:
Moolah.io is integrating Myriadcoin fully into their payment processor platform for merchants.
Bryce Weiner and Co. at Blocktech are prototyping Hardware wallets for #Liberdade, Brazillian MYR tokens using the colored coins meta-layer. They also have 4 businesses who have volunteered to assist with their Liberdade project.
ImagineInvest is meeting with a Volkswagen-subsidiary clean/smart tech company that is interested in using Myriadcoin in new Brazilian stadiums
Update! (Piezoelectrics, Pedometer wallets, and expansion beyond Brazil): Link
An online Myriad wallet service now exists: Link
Wooden Myriad wallets pre-order campaign: Link
CryptoCards.co offers $15 Myriad wallets. These are laser-etched, aluminum cold storage cards with BIP38 encryption: Link
New website preview: Link
The innovative POW structure combined with some of latest developments make Myriadcoin one to watch. |
|
|
|
Is there any upcoming catalyst regarding Myriadcoin?
What do you mean catalyst? |
|
|
|
|
Incoming Myriadcoin article today via CryptoArticles.com
|
|
|
|
Myriad-Moolah.io and Why that Matters(Written by a Shibe on Reddit: http://www.reddit.com/r/CryptoCurrency/comments/24j840/myriadmoolahio_and_why_that_matters/) Follow me for a second and let me explain why this is a very big step for Myriad. For transparency and history, I'm a long time Shibe. I was introduced to Myriad when I was invited to join Dogecoinx, a small group of devs and miners whose purpose was to try to bring a more secure foundation to dogecoin's framework, specifically the mining algorithms known as proof of work, PoW. As the algorithm suggest, PoW secures the coin and instills value, because people expect rate of return on the work (time-electricity) spent on mining the coin. The problem is, dogecoin and nearly all other coins, are vulnerable to something called 51% attacks. I won't go into detail what that means, only that if a group of miners have the people and technology, they can manipulate the coin's transactions. Most importantly, the very fact that such attacks are possible means the coin is not ready for mainstream, world-wide, acceptance. You cannot trust a global currency that can be undermined by a small group of miners. Also think big, if it's a globally adopted coin, then certain nations might even coordinate such attacks. Thus, it's very clear that a globally accepted mainstream coin must have secure foundations. At Dogecoinx, we overwhelming decided that the coin that best fits that profile was Myriad. We considered merge mining, we considered PoS in its various forms, but a myriad-model and their "multi-PoW" was clearly the path forward. In the end, though, Dogecoin devs decided to wait, keeping their current algo. Multi-PoW is the most innovative and stable framework seen in digital currency. It's a framework that is acceptable for mainstream adoption because 1) 51% attacks become practically and realistically impossible. 2) everyone gets to join in on mining, CPU, GPU, and asics. It doesn't fight against technology. It embraces it. This is good. Companies building machines to mine your currency helps establish an economy around the currency. This is incredibly powerful and important! And if you can do it without risking your coins security, that's huge! PoS actually represses technology, multi-PoW embraces it! Myriad does just that! Now I hope you see why Myriad is the most innovative coin out there. But Myriad has had two problems. 1) They lacked merchant capability. Ok, this is now fixed. Moolah.io integration means merchants will now have easy access Myriad. This is absolutely enormous! This means that there is only one missing piece of the puzzle, community. 2) while Myriad has been the respected gem by Devs beyond their borders, they have yet to build a community needed to drive the coin past the haze of coins out there. Maybe the recent news regarding liberdad will help. Unclear. But you can help! Folks, this coin is honestly the real deal. And this old Shibe has been watching them for awhile. Now that they will have access to merchant tools of Moolah, I'm excited to be part of their last missing piece of the puzzle. The Myriad community. Please consider joining me.
|
|
|
|
Sources: @moolah_io, @BryceWeiner and @ImagineInvest Moolah.io will be adding Myriadcoin to its merchant payments platform. Via @BryceWeiner A) Blocktech Engineers will be designing and prototyping Hardware Wallets for Liberdade/MYR in the coming weeks. B) 4 Businesses have agreed to partner/volunteer with the Liberdade project. C) Blocktech is moving to new offices in San Diego to begin development of Liberdade hardware and software. Via @ImagineInvest Tweet 1: Not to fuel fire, but I can verify BW's optimism. Have a mtg in 1 hr w/ Volkswagen-subsidiary to discuss #MYR specs. Tweet 2: The company is installing smart/clean tech in Brazil's new stadiums/structures. Possibilities for #MYR abound. Tweet 3: Not kidding. Have mtg @7pm w/ German, VW-owned smart/clean tech company. #MYR specs/integration possibilities are primary topic. |
|
|
|
|
Show Posts
