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4.1.0 + FW 0.3 is the most stable for me -- since running both my miners with these there have been zero shutdowns. 4.1.0 also seems to produce less HW errors.
If I upgrade to FW 0.4, cgminer 4.1.0 shuts down cores for being bad ("squelching"), which seems to result in me losing hashrate.
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From a laymans perspective its much better to say "there will be 500M coins total ever" than "there is no cap but there is inflation blah blah blah"
This is one thing that appeals to people about Bitcoin. Theres 21M coins, so each coin is rare and unique. Thats important, from a marketing perspective.
When Doge went uncapped, I knew of a couple people who just dropped out because they didnt understand the technology and how Doge could have value being "infinite."
Peoples perceptions are just as important as reality when it comes to marketing.
I'll probably state something along the lines of, "There will be x many coins published in the period of time where the per-block supply in decreasing, which is during the first y years." |
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Hi everyone.
This may come as a surprise, but I'm hoping it will come as good news to everyone out there.
I am eliminating any premine on this cryptocurrency. I plan to do all the implementation of it over the next 4-6 months on top of btcd.
Looking back at all the cryptocurrencies that people actually have faith in, such as Bitcoin, Litecoin, and Peercoin, it seems like the only practical and fair way with which to launch a cryptocurrency is by doing so without the premine. The people who will benefit from such a model will be you, the future users. In the spirit of everything that this community has ever been about, it seems only appropriate to try to develop this myself while I live off of my own savings. It'll be a rough road ahead, but I hope I will have the continual backing of the community for choosing to develop this for everyone's benefit with no monetary expectations in return.
Development will formally commence tomorrow, and I have left my job so I am free to work on this full time.
I will still release the software as binaries for the first month or two, then formalize a public github repo (to prevent initial forks). I'll have put too much of my life into this by the time of release to have it forked as whatever-coin in the first couple of months, and I hope the community can agree with me on this sentiment. Any members of the community who wish to audit the code are welcome to talk to me.
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We're still around, fulltime development starts this week. I would add the following decentralized storage solutions: - maidsafe (maidsafe.net) launching in april http://blog.maidsafe.net/2014/02/18/token-on-maidsafe-network/- jstor (talk to super3 on freenode if you want to learn more); winner of the texas bitcoin conference hackathon. launching soon. |
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I'm answering - I didn't hear about Hackathon or it's winner before this conversation.
Well, I'll caution you and say that aside from them maidsafe is doing more or less the same thing, has millions of dollars in backing, and has had a working system for years, just no way to monetize it until recently. They're launching a monetized system in April. see also this block entry http://blog.maidsafe.net/2014/02/18/token-on-maidsafe-network/ |
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was this the winner of the texas bitcoin conference hackathon?
Absolutely not. Ah, okay. The winners there made a decentralized file sharing system based on the stuff proposed regarding that by gmaxwell and using the chain to store most of the metadata for files, afaik it was mostly implemented and running at the conference so I suspect we'll see it on here in a little while. |
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was this the winner of the texas bitcoin conference hackathon?
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You just opened a Pandora's Box ... Perhaps Nxt can actually be "mined", after all.  It's a "feature". What you fail to understand is that in order to brute force an unsecured account requires not only SHA asics, but also curve ASICS, which there are none of now. but like as has been stated many times for you already here, this is intentional; to allow 'mining' of lost NXT in the future. https://bitcointalk.org/index.php?topic=366105.msg4785565#msg4785565Nxt passwords are supposed to be at least 30 random uppercase/lowercase/number characters, why the client simply doesn't generate these itself and then save them in a wallet.dat is beyond me. |
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Back from the Texas conference
Update soon
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So, has anyone hardmodded the voltage on these yet? Any idea where to start?
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Taco, could you please clarify the message when you get a chance?
In a bit, I'm really sick with a flu/cold right now. Hopefully another newsletter will be issued within the week to clarify things with regards to this. |
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Rolled back and seems to be working okay again, thanks With the other firmware it ran for 10 or so minutes okay and then kept detecting errors and downclocking the unit, then finally when it hit ~530 MHz. At that point it just kept resetting it every 30 seconds or so, it was really strange. That was with 4.0.0. With 3.11.0 it would run very stable for a while and then wouldn't be able to recover from crashes at all (15s of failing to give golden nonces or whatever). It was just keep going down until it his 0 MH/s and sit there. This new firmware is also seemingly slower than what it was shipped with (v0.2?) at the same clocks; was getting ~445 GH/s per unit at the pool, now I'm getting only ~410 GH/s. I'll let it run overnight and see if it's just variance. Looking at the power meter, they're drawing exactly the same amount as before.  |
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Big problem I'm seeing with this new firmware is that it no longer automatically restarts the unit by hotplugging once it dies from the internal watchdog on 3.11.0... shoot. Messing with 4.0.0 again now.
edit: Do not update this if you have a rev 1.1 board, the newer firmware is less stable at higher clocks!!
ckolivas, please pass me older firmware with the watchdog if you have it, this new firmware is super unstable for me
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What HW revision you got?
1.1 cgminer 4.0.0 still crashes and can't hotplug itself back in, so I went back to 3.11.0 |
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I can confirm it works okay for me on 64-bit linux. Same hashrate/stability as before. Wish I could tweak the voltage, grr! I'm sure there would hit 800-850 MHz around 1.00 V |
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^^ there is a mathematical explanation in the GHOST paper. See figure 1 for actual data on block propagation times with varying block sizes.
If anyone is insisting you need >50% of the network hash rate to double spend, they're incorrect. That's simply the quantity of hash rate required so that on average you are able to double spend 100% of the time. You can do it with a lesser hash rate, with lower probability.
Because it's possible doesn't mean it'll happen -- deepbit and litecoinpool were often > 51% and attacks never occurred. But when you have a poorly secured new coin...
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Also, I have a hat that says TacoTime on it, so hey, that's worth something.
yes.  |
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Hello TacoTime and IngSoc,
Great job on the whitepaper and conceptualization of the coin. A coin that is a worthwhile investment.
As with any great innovation, there is significant risk associated with the project. This is further exacerbated by the persistent inflation.
If you need to receive more funds, you need to reduce the inflation in the coin, this will increase the reward to risk ratio and make it favorable for investors.
Inflation that is high and decreasing in the initial rounds are necessary to ensure that the coin is well and fairly diffused to people by miners. The persons obtaining it initially then are incentivized to figure out ways to maintain and preserve the functionality of the network, and add new and interesting functionalities. Long terms reasons for low exponential inflation are given in response to LuckyBit above. |
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