 Show Posts
|
|
Pages: « 1 2 3 4 [5]
|
i would not borther. The coin is totally broken. But if you want to waste your time or for educational purposes and some surprises with this coin, go on and set rpcuser=<user> rpcpassword=<pass> rpcallowip=127.0.0.1 daemon=1 server=1 listen=1 rpcport=18377 port=18477 rpcallowip=192.168.1.* (might be a different network in your case - edit accordingly) addnode=69.85.86.195 connect with cgminer -o <ip_of_PC_in_your_network_running_the_server:18377> -u <user> -p <pass> if you use the windows wallet, do not forget to enter the console in your client wallet (under debug) and type: setgenerate true (have to do this before you start cgminer) |
|
|
|
anything new whats going on?
I think the coin was meant as a joke. Pre- mining for 0.1 btc analogous to ordering BFL units that were never delivered just as those coins which keep vanishing. Maybe wait a bit longer before placing a coin on the exchange. It's actually quite a mean joke, because some people wasted mining hashrate on this coin and were stupid enough to pay for premining it? On the other hand... if you mine this crap, you deserve it i guess. |
|
|
|
The person who releases it can't mine it himself after it's been released? You're a fool.
But if the person is doing hard work to make the coin successful then what. By your point of view I think he should rely on donations like beggars. Wake up Bro every body needs money to do something. Now consider if you are mining for months and you don't get even a single coin. Will you still keep mining the coin. I am sure even though you won't have to work hard like the developers but you still will work only for money. I have no problem with premine if the developers are really doing something other then pump and dump. Why should he instantly get paid at all? Is he not mining like everyone else? What extra work is he doing that it's so important for him to get paid millions of premined coins in order to copy/paste code? If a developer actually gives a shit about his coin, he'll code it without his million coin premine. The only thing a premine does is give shit heads a reason to release clonecoins and sit back and wait to sell them off on some shitty exchange that adds every new shitcoin. Exactly... the developer IF he trusts in his coin, can mine himself, and if he REALLY puts a lot of work into it, the price will skyrocket and will pay for itself. That, along with donations of those who got rich on his coin. If he has to premine it for profiting on it, he probably already has planned to release the next shitcoin. Or are there really that many naive people around here that think there are no scum developers in the cryptoworld which would abuse this scheme to infinity as long as it works? |
|
|
|
The premine was "only" 1 million. His math is right, 0.7% of 133 million is 1 million. 7% is 9.3 million.
Still not going to mine it, because why do you need that large of a percentage of the coins, but his math is correct.
10,000 is more than enough for bounties and such.
10,000 was given just to the pool owner dude. We are giving a lot of bounties for various projects. This scheme simply does not work anymore. It has been abused too much and will be abused even more. Why do you think you should have access to 1 million coins when all you did was change a few variables in a client, just like the rest of the 238428949824923429 clone coins? 10k out of 1 million for a pool. Big deal. |
|
|
|
The premine was "only" 1 million. His math is right, 0.7% of 133 million is 1 million. 7% is 9.3 million.
Still not going to mine it, because why do you need that large of a percentage of the coins, but his math is correct.
10,000 is more than enough for bounties and such.
yes, made a mistake there. 0.7% is 0.93 millions. (133m * 0.007) Nevertheless it is a premine of quite a lot of coins there. |
|
|
|
|
I want to say thanks for bumping my thread, to make this situation aware to more new players on the market. There are a lot of hyenas involved in this market, and it strikes me to no surprise they are the most vocal on here.
My goal was to make this situation clear to those who are new and or have not realized yet what is going on.
|
|
|
|
|
There is a scheme here which has been going on for quite a while and is hurting all altcoins.
Developer creates new altcoin, premines it for supposed bounties and services of which only a fraction gets paid to other parties, while the main is cashed in by the dev himself, and dumped when the coin hits the exchange and or earlier via other means.
The "dev" merely changes a few variables in the client, then moves on to create a new altcoin and repeats profiting on it.
This will continue until people stop supporting this kind of madness.
While it would be reasonable to premine some blocks for bounties, if the developer was honest and kept supporting his coin, as in creating services, hiring more developers etc, this option has to be thrown because of the too high risks of being abused.
I urge everyone to not participate in any more altcoins that are premined in the attempt to keep cryptocoins alive.
copy coin -> premine -> dump premined coins on exchange -> profit needs to stop!
Do NOT dismiss every new coin, just those that are of the above kind. There certainly is space for innovation, but unfortunately it will be harder for new coin developers to establish themselves. They will have to INVEST in their new coin, and hope it will succeed, which will grand them more donations in the long run.
Premine should be a red flag "no go" area for everyone now i hope.
From my observations, it seems that hazard is the guy behind most of those dump coins. He knows how to create new coins and is always there to put down new alts he himself wasn't involved in.
|
|
|
|
|
Hazard didn't come in to put down the coin. Guess who is behind it then...
Premined 0.7% of the coins (0.7% of 133 millions is 9.31 million coins premined)
They don't use the word premine anymore, just like with stablecoin, in the hopes noone will notice. "set aside" with the harmless sounding little percentage value.
quote "with block reward halving every ~4 years of which 0.7% were set aside for bounties and services. "
What this means is simple. He will dump a large part of those 0.7% and move on to the next altcoin he will create.
enjoy
|
|
|
|
|
Same thing happens here but did not really find any solution. The obvious issue is cgminer itself. It seems to access resources of the GPU in a way which doesn't play nice with other 3d games using the GPU at the same time.
A different AMD driver might also fix the issue, but the main reason is cgminer itself imo.
|
|
|
|
|
So it seems stablecoin is supposed to have fixed this according to the announce.
|
|
|
|
|
There is enough room for a good altcoin still. One with a wallet that actually works when solo mining, not just sometimes, as well as less fishy starts. Name one altcoin which had a perfect start without any fishy going on.
|
|
|
|
Yes, it is really strange. What i find more strange is that it seems i am the only one who notices this. It's trying to build the litecoin blockchain seemingly at random times. WDC and Phenix have this issue, but probably all other alts except ltc of course.
You're not the only one with this issue, rest assured. I have this exact issue too with pretty much all alt-coins. I immediately configure my wallets for solo mining when I install them so they're always running with the "server=1" option. I had never stopped to think about whether or not this only occurs with that setting. I don't know if solo mining can continue when this problem occurs as I usually only see this problem later in the coin's life when I've already migrated to a pool (difficulty increased). I can't locate the place where I read this before but I've seen it mentioned that this can be caused by a bad node poisoning the network. I've been meaning to learn more about how coin networks work to see if this is really the case. For reference, I'm running a 64bit, Debian-based Linux. Berkeley DB is version 5.1.29 and miniupnpc is 1.5. That said, I think this is more of a network issue than a client issue, but I could be wrong. Did you also experience the same behavior. Finding a lot of blocks, then all of the sudden (usually paired with the random litecoin blockchain build attempt) nothing for 10+ hours? |
|
|
|
|
Yes, it is really strange. What i find more strange is that it seems i am the only one who notices this. It's trying to build the litecoin blockchain seemingly at random times. WDC and Phenix have this issue, but probably all other alts except ltc of course.
|
|
|
|
http://imgur.com/bFxVk01This is not just related to phenixcoin, but also happens with the worldcoin wallet. As far as i can tell, you do not find any blocks while this is happening (could be a very rare coincidence however) The wallet was installed on xubuntu 12.10 running within virtualbox. Windows 7 host. sudo apt-get install build-essential sudo apt-get install libssl-dev sudo apt-get install libboost-all-dev sudo apt-get install libqrencode-dev miniupnpc --------- tar -xzvf miniupnpc-1.6.tar.gz cd miniupnpc-1.6 make sudo su make install Berkeley DB ----------- You need Berkeley DB 4.8. If you have to build Berkeley DB yourself: ../dist/configure --enable-cxx make I installed miniupnpc and libdb to the exact versions mentioned above just to make sure it is not this causing the issue. Any insights why i get this, and did anyone else notice it? (you won't notice if you just run the daemon i suppose)
|
|
|
|
|
