Check out http://cointelegraph.com/news/113059/california-becomes-second-state-to-try-regulate-bitcoin. It's really about "Bitcoin regulation", but the last half of the article really hits it. Bottom line, pot is legal in Colorado, but not according to "federal" regulations. Therefore, banks don't allow any dealings with the businesses that have anything to do with pot. Therefore, crypto is coming into play. That regulators are focusing on "Bitcoin" means they are missing the point. Let's say they outlaw Bitcoin, what are they going to do then -- outlaw every cryptocurrency that pops up into existence? And should they do, do they think we'll really care? And what, do they really think they can really do anything about it? Pot has been illegal in the US for many, many decades before I was born (and I'm old). Did that stop pot? Actually, I think illegalization made pot way more glamorous. "Law" should be made for mankind, not mankind for "the law". Ahh, but there's "democracy" for ya... PS. We have PPcoin (Peercoin). Should we not also have a PoW DoodooCoin? At least, it might ensure the survival of the feces. And bring about the true New World Odor. |
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I got into UNO because of daytrading BTC, UNO is the stable 'element' I daytrade againt. I really do think it has a rightful place in the crypto universe.
Lol now THAT is interesting to me! So without divulging too many of your trade secrets, how does that work? You play the swings on btc and wind up buying uno for longer periods of holding? I suck at trading, i am not looking to judge or criticize what and how you do it, just looking to gather as much info as i can from "real" people. Trying to learn! Yeah, I'm interested to learn as well... Me three... |
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Yeah I see UNO that way too. I got into UNO because of daytrading BTC, UNO is the stable 'element' I daytrade againt. I really do think it has a rightful place in the crypto universe. NLG has a different target: it must be a coin for daily use. The team is working really hard on that. Check the timeline of the achievements so far: https://timeline.guldencoin.com/I agree with BitcoinCharlie, that's quite an impressive timeline! So is NLG in essence a "national cryptocurrency", for use mostly (or only?) in Holland? Interesting the part about the Guilder (in Dutch it seems it's "Gulden", sounds like it's etymologically related to, um, Gold  that had been in use since something like 1252 -- until the Euro decided to assimilate it (and everything else it could in Europe). So you guys are bringing the Guilder/Gulden back in crypto form -- I love it! |
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I love miningpool.co. The chart and stats are the best I've seen for UNO mining.
I have the auto payout set at 0.5 UNOs. Normally it pays out like clockwork at just a hair over that amount.
A few weeks ago, though, my account balance climbed up to something like 2.5 before it paid out. And now my balance is over 1.11 and climbing.
What makes it get "stuck" where the auto-payout doesn't pay out at the set amount?
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WHO keeps putting up these sell walls? And WHY? It's obviously not one of the regular posters here -- though possibly it (or they) are regular lurkers. What's going on? If we were to continuously buy up all of that red blob, would it continue to miraculously reappear?  |
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Yup, I'm waiting (not hoping) to see what's in my stocking. Santa drops off a load every day so I don't need to able to see every second of the day what the score is so far.
The bogus counters refers to cloud mining sites that have these neat little counters based on nothing other then a simple script that updates the display every.. second or whatever. I'm not even against the whole idea, but I like actual numbers every once in a while.
Ah, I've never seen those, GM is the first cloud mining site I've used. No, I'm not interested in fancy but bogus numbers either. On mining pools I want details all the time as I control the settings. For cloud mining I want a good and reliable return.
Having said that, I haven't checked my miner aimed at miningpool.co for days. Just the coins popping up in my wallet. Santa is busy
I guess I've got to get used to the GM way of doing things -- just wait for coins -- versus seeing everything that's going on at the hash level, current account balance, pending, etc. of whatever coin I'm used to seeing with mining on miningpool.co using my own gear. |
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Are we all done, yet, with the druggie talk thread drift, because frankly I don't like it?
Me neither, they've got THREE coins! Whereas those poor West Virginia moonshiners only got one. "Mooncoin for Moonshiners". Cat Stevens (or whatever his name is today) could do something with that. |
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That is basically it... You never know, they might do something like graphs and all that other display stuff someday. Probably way too complicated. There's a load of coins to track then, thousands and thousands of customers with different settings, and on top of that there's a bunch of auto/most profitable coins which have no known value until they are exchanged for the coin of choice for individuals again. If you want to know how many coins you made, check your wallet once a day. For Auto and exchanged coins, yes, stats for that might be a bit more involved (and actually wouldn't have to be implemented). For the rest, I don't see your point. That's what mining pools do -- they have multiple customers, each with different settings, and many with multiple coins. It's not rocket science, it's just getting it done. I'm okay with that actually. I rather see truth once in a while then fake counter with bogus numbers all the time  With no stats, you're not seeing anything, you're just waiting and hoping to see what Santa Claus dumps in your stocking. If you think that miningpool.co uses fake counters and bogus numbers, I have to tell you, nothing could be further from the truth. I and other miners there check the stats multiple times a day. The network hash rate figures, difficulty, etc. match up exactly with what's available publicly everywhere else. My own hash rates on my mining rigs match on their site exactly with what I'm seeing in MultiMiner on my PC. Did you by some chance once happen to use a mining pool that had "fake counters and bogus numbers"? If so, I'd be very surprised if they were still in business today... |
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The Unobtanium shorthand - UNO has potential to be easily understood in other languages based on latin or familiar with the prefix Uno-. The only mathematical idea or concept easier to understand than the number 1 might be 0 (zero).
Sometimes when it's all damp and dank and cold and gray and depressing outside, when I'm thinking how still (relatively) Un-known UNO is, that little song pops up in the back of my head, "One is the loneliest number that you'll ever do..." (Three Dog Night) On another note, I'm considering getting a new car (a Subaru, of course). My current Subaru, 16 and a half years old, is getting a bit long in the tooth, without Blue-tooth. Its "vanity" license plates say "XML", which has been appreciated by geeks but for everyone else (when asked) I'd have to tell them it stood for things like "eXtended Male Lingam". Some chuckles, some winced faces, and lots of blank stares. And XML is so late '90s in hipness. So ... should my new plates say "UN" or "UNO"? One advantage of the former (should I be able to get it) would be that people, including cops, might think it's an official United Nations vehicle and let me pass through wherever with impunity. Any thoughts? |
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Is there any kind of stats page at GM that shows you where you are? I haven't been able to find it, it seems like it's just "buy hash power then wait for payouts". Here's an example of what I'm looking for, from a mining pool I use with some of my existing mining gear ...  |
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I am looking at getting up to 1 Th/s going for Uno as soon BTC rises a decent bit so i get the contracts for less btc (hope they don't raise the prices then)
I can always deposit USD into my Coinbase account immediately. I *think* Genesis updates their exchange rate pretty well, based on a quick check I made. So if today BTC is worth $300 US and tomorrow BTC is worth $600 US, does it really matter? I instantaneously transfer $X from my US bank account to Coinbase, then immediately thereafter fund Genesis with it. It should be the same cost in USD for me, whether I do that bank->Coinbase->Genesis deposit today (when BTC = $300) or tomorrow (when BTC=$600), no? (Of course, if I had a bunch of BTC on hand I'd been hodling, I guess it would matter. I just haven't been hodling any BTC at this point in time.) PS. I notice on their home page that their "Cyber Monday" discount starts in about 4 and a half hours. For me, that's still extremely early Sunday morning. They must be talking Hong Kong time, even though they seem to be mostly Germans and they're incorporated in Bermuda. LOL! |
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You're right that more hash doesn't mean more Uno, as KGW resets difficulty every block to average 3 minute blocks over time. This is different from Bitcoin which resets difficulty every 2016 blocks; with Btc more hash does mean more coins faster (< 10 minutes). Not with Uno. If hash was low enough, you could run the Uno network off of your block erupters.
More hash, when distributed, helps to secure the network against various attacks, such as a 51% attack, or double spend attacks.
In a manner of speaking, Uno is protected not only by Kgw but by it's low block reward. While Btc still gives 25 btc/block, Uno's reward is getting extremely low so that attackers have less incentive; there are just easier coins to attack.
I have a computer here that mines various forgotten sha256 coins off of block erupters, for no other reason that I can simply do it. I have no illusions that anything will ever come from it, it's just sort of fun for now. All these networks run just fine on low hash.
Very interesting, FK. Thank you. I once did my own "51% attack" against one of the networks after I accidentally send a large % of the coins to a dead address. As the sole miner, it was simple for me to back up the block chain and create new blocks to write over my mistake and bring back my lost coins (How do you do it? Start by downloading the blockchain to a new client on computer 1, but stop it before the block you want to overwrite; setup a private network between two computers; synch client on computer 2 to partial blockchain on computer 1; start up the miners on our private network and create a longer chain than the real one; put them both back online and the network will accept the new longer chain). But it becomes much more difficult to attack when there are other miners pushing the network forward, syncing the block chain. Ideally, you don't want anyone to control more than 51% of the network; it's not an automatic tragedy if that happens, but goes to the integrity of the blockchain.
Wow. Absolutely fascinating! OK, so back to UNO. Again, assuming a current average 20 TH/s, say a John Doe all of a sudden throws an additional 100 TH/s at UNO mining. That's way more than 51%. So what (I think) you're saying is that John Doe owing that huge majority percentage of hashing power is not in and of itself a bad thing, but that if "John Doe" were actually a pseudonym for Dr. Evil, the UNO network might be in danger of some serious hanky-panky. Do I understand you correctly? |
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Firts day already 6.3 coins :-D
Wow, that would be about 1/3 of the total estimated Uno daily production. How much hash are you bringing? A 1000 Terra Hash Hashes lol. No i made a typo Exactly numbers: 0.63 coins. Yes 0.63 Not 6.3  Thank you for that typo! It brought out one of the more interesting and informative discussions I've seen here. I now even have a clue as to what "KGW" does. |
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Hypothetical situation: Let's say 3 people each throw, oh, 1,000 TH/s (TH/s, not GH/s) at UNO mining. What does that do to UNO production? 15 coins a day is 15 coins a day. And what does that do for each of those three miners (not to mention all the other 2-bit miners on board)?
Safe to say they now have 100% control of new production. Thanks BN, I guess my real question was more of a technical one along the lines of "how does that effect the network?". unobtanium.uno says the current network hashrate is about 16.5 TH/s (I think FK said earlier today it was then about 25 TH/s). Let's assume an average of about 20 TH/s. Those 20 TH/s are creating 15 coins a day. Now let's say (hypothetically) tomorrow 3 big-bucks folks come in and each start throwing in 1,000 TH/s for a grand total of 3,020 TH/s (3,000 + the current average 20). How does that extra hashing power effect the network? What does that "do" to (or for) the network at the current stage of the game? There are still going to be only 15 coins a day. How are these coins going to be any more "special" than the ones created by only 20 TH/s? Does the block chain somehow become super more efficient in some way? Wouldn't that extra hashing power be essentially being "thrown away", at least until such time as the value of UNO has skyrocketed and the block reward has halved dozens and dozens of times? |
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Firts day already 6.3 coins :-D
Wow, that would be about 1/3 of the total estimated Uno daily production. No kidding!  How much hash are you bringing?
Hypothetical situation: Let's say 3 people each throw, oh, 1,000 TH/s (TH/s, not GH/s) at UNO mining. What does that do to UNO production? 15 coins a day is 15 coins a day. And what does that do for each of those three miners (not to mention all the other 2-bit miners on board)? |
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Update: Approximately 30 seconds after I posted that about Genesis Mining just now, I got this response from them: Hi Jelks,
Oh I am so sorry, I thought I had sent you this reply a while ago, but I just realised that i closed it without sending it.
I do appologise. Here was the answer I had written.
On the screen where you can choose your hashpower, if you click on the box that is labelled as US Dollar, it is a drop down box, so you should see other options for BTC and Litecoin for example and others.
If you go to your dashboard and scroll down, you will see a section, titled. 'My Orders'. You should see your USD dollar there and the option to cancel it. That is all you need to do.
Hope this helps.
Just to add, on Monday we are doing a 10 % discount on contracts, so perhaps it might be an idea to hold off to Monday so you can get that saving.
Once again,really sorry about closing your ticket.
Best regards,
Craig Kiltie
Genesis Mining
So I feel much better about them now, and will order on Monday with the 10% discount!  |
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Gotcha, and thanks FK! I just signed up, but I screwed up doing so -- thinking that choosing USD payment would allow me to use a credit card. No, bank wire only. I hate bank wires. I've got a support ticket in on hopefully changing it from USD to BTC where I could then do a simple coinbase transfer. I made the same mistake. Just do make another order for bitcoin. The USD order will expire on it's own. Well, actually you can cancel an order yourself from the Dashboard page. All orders are there, at the bottom of the page, including status and a cancel option if you haven't paid yet. Thank you FK. I started to try your suggestion but decided to wait until I heard from their "freshdesk" support since I had gotten about a $25 discount from the recently suggested "MOON" promo code when signing up, and if I did your "let the bank wire expire and do another order" suggestion, it showed the new order would be without the discount. I noticed I had no emails from them, so I went to their freshdesk support page. My support ticket about *changing* the order from USD to BTC had been "closed"! No answer, no nothing, just closed. It's like they thought, "What kind of stupid request is this?" and just closed it without consideration of a response. So Mike, I took your suggestion and canceled the order, then went to the "Upgrade hashpower" part. Same deal, no discount. Yes, a lost $25 discount on a $779 order doesn't break the bank, but it's the principle of the thing, so I'm a little miffed at Genesis Mining at the moment. I've replied to the abruptly closed ticket. I'm holding out on ordering anything for a "let's wait and see" for now. PS. I was actually looking forward to maybe selling my two Antminer S3's (awesome miners, by the way) and my odd collection of some 27 USB ASICs (various Antminer U2s, BiFury's, NanoFury's and one lonely old Block Erupter , five of those cute little USB cooling fans, and three USB hubs. The Antminers run more or less standalone, they just need to be connected to one's router; the USB ASICs on the other hand require an always-on PC with mining software (I use MultiMiner) on that PC. A decent and cost-effective cloud-mining solution sounds pretty enticing, but I want to make sure I know who I'm dealing with ... |
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Their Altcoin mining contracts are currently "Out of Stock", whatever that means! So I guess you guys got lucky. You can just buy a bitcoin mining contract. "Altcoin contracts" are scrypt hash. It's not the best way to word it. Gotcha, and thanks FK! I just signed up, but I screwed up doing so -- thinking that choosing USD payment would allow me to use a credit card. No, bank wire only. I hate bank wires. I've got a support ticket in on hopefully changing it from USD to BTC where I could then do a simple coinbase transfer. |
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Just bought a little extra hashrate and pointed 500GHs at UNO in my Genesis Mining account. To those wanting to do the same, don't forget to add a payout wallet address in your account first, or the UNO setting won't be saved on the mining allocation page Thanks, Mike18feb, that's good news for Uno. I can't match your 500gb, but I was able to add 250 gb today at Genesis and it will always be on Uno. Will add more next month. Their Altcoin mining contracts are currently "Out of Stock", whatever that means! So I guess you guys got lucky. |
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Since he was talking the "Bitcoin as commodity" angle, I left a comment up there about the current inflationary aspects of Bitcoin and made a plug for Unobtanium. |
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