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Darkcoin is discussing airdrop at the moment to mitigate the effect of instant mining.
In order to reduce the instant mining, I would suggest proportional block reward according to difficulty in the first few, say 5000 blocks. For example, set the starting difficulty to be 0.01, but the block reward is 1, when the difficulty is increased to 1, the reward is 10. The relationship between block reward and difficulty does not have to be linear.
This will give time to the miners and pools to set up their wallets and mining software so that they are not much disadvantaged by coming to the mining just a little bit late.
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Darkcoin is discussing airdrop at the moment to mitigate the effect of instant mining.
In order to reduce the instant mining, I would suggest proportional block reward according to difficulty in the first few, say 5000 blocks. For example, set the starting difficulty to be 0.01, but the block reward is 1, when the difficulty is increased to 1, the reward is 10. The relationship between block reward and difficulty does not have to be linear.
This will give time to the miners and pools to set up their wallets and mining software. They are not much disadvantaged by coming to the mining just a little bit late.
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The best solution for instant mine is to increase the reward as the hash rate increases. At the moment, the reward is inversely proportional to difficulty. You can make it proportional to difficulty so that more coins can be issued to more miners. After we are satisfied with the solution of instant mine, then we can fix the reward or reduce the reward.
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No normal pools have worked at all since launch?
You are correct sir. I first tried okaypool right at launch. nothing....dead. no work, no progress, no miners nothing. Then I was going to just solo mine it and I saw Omargspool and talesfromthescrypt. Talesfromthescrypt would not work either and Omargspool is the only one that worked. The launch was pretty messed up but it seems somebody "in the know" and with the proper wallet was still able to mine it while everyone else was scrambling and out of luck because right before my eyes I saw the difficulty go quickly from 2 to 8 to 24 to 32 and then 74. I saw the same So there is not to much instant mining of this coin? It is good for the future price of the coin. |
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I agree with increasing the reward for the next 24 months to reduce the relative value of the instant mined coins.
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Is this coin the combination of premine and instant mine?
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In other news. We are Ready to launch LimeCoin in less than 3 hours (as expected) , more information in www.LimeCoin.org go to Forum. Regards So as we are in BST time in UK right now and not GMT, does that mean it's launching in 2 and a half hours from now? Or 3 and a half? It says 7PMGMT, that is 8 PM BST, or 2.5 hour from now. |
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Although I wouldn't be worried about people stealing health insurance, since it is free, I was wondering more in regard to identity fraud there. Again, I am not sure how common it is for people to share their numbers or not. If it was like a social security number here in the US, it's certainly not something to freely give out. But if everyone just shares their numbers already, then it does seem safe.
Again though, how will you verify it's a real number? Or a real card?
And as far as the giveaway, I didn't mean the entire giveaway all at once, just a small amount, but to everyone in Quebec. Realistically only a small percentage would claim it anyway.
It's a bit of the chicken and egg thing... nobody knows about the coin, so it makes no sense to give it away at first. But by not giving it away, nobody knows about the coin...
We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted. There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.
On the OP, it still says "Premine : 21 Million - 50% for the population of Québec".
We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process.
Yeah that's what I understood from your post. But that brings zero advantages and only additional complications. Miners get less coins, I have to keep up with controlling the new arrival of coins all the time, they can't be secured 100% since I'd have to go deposit them all the time in cold storage at the bank with a trusted third party. The premine exists to keep the coins in Québec and for a slow distribution. There won't be a flood of coins in the market we're explicitly avoiding that. My work is multiplied by not having a premine and instead using a distribution like you're suggesting without gaining any advantage. It's still a long term process as that's the way it's designed to be anyways. The reason for the gradual release of the mined coins to you for distribution is that we do not trust a person. The security and integrity of the coin depends on the implementation of a proper system. |
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X11 is more GPU friendly only if we can get optimised GPU miner, otherwise people would mine scrypt-N coins.
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Where is the block chain explorer?
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Would it be possible to move this coin from Scrypt to X11? More GPU friendly and consumes less energy. That could be a good selling point of this coin.
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Would it be possible to move this coin to Scrypt to X11? More GPU friendly and consumes less energy. That could be a good selling point of this coin.
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I'll have the initial master wallet with a bit less than 21 000 000 QBC. We can split that up into 5 different wallets, encrypted, backed up to two forms of physical media. A bank in Montréal acts as a trusted third party and doesn't allow access to the vault before a certain moment in time. Fool proof method + the fact that I actually would never dream of touching the premine for illegitimate reasons should be good enough for anyone.
It would be better that we have zero premine. When the coin is launched and mined, a percentage of the coins will be sent to the 5 different wallets you mentioned. As the distribution, payment to development are long term processes, not a large amount of coins are required on day 1. Not all the premined coins will be lost in one go if the wallets are breached. This will also prevent a large dump of coins soon after the launch by the claimant. If there is not enough mined coins, then the claimants will have to wait for the coins to be available. The slow release of the coins is beneficial to the long term health of the coin. However, this process will give the developers less control of the coins, they may not like it. If you read through this thread you'll see that a slow release is exactly what's planned. I'm the dev and I have no problem with giving up control of the premined coins so that they can't be spent or stolen. I'm the first one who suggested it actually. The coins will stored in a bank vault and not touched until the first airdrop period. QBC will stay rare and valuable except for a few smaller scale giveaways as a promotional tools. The premine is here to stay though as I intend that most of the coins actually stay within Québec, for Québecers. edit: Also I think you were suggesting taking a percentage from miners instead of a premine but that's really equivalent to having a premine anyway but with way more complications. On the OP, it still says "Premine : 21 Million - 50% for the population of Québec". We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process. |
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I'll have the initial master wallet with a bit less than 21 000 000 QBC. We can split that up into 5 different wallets, encrypted, backed up to two forms of physical media. A bank in Montréal acts as a trusted third party and doesn't allow access to the vault before a certain moment in time. Fool proof method + the fact that I actually would never dream of touching the premine for illegitimate reasons should be good enough for anyone.
It would be better that we have zero premine. When the coin is launched and mined, a percentage of the coins will be sent to the 5 different wallets you mentioned. As the distribution, payment to development are long term processes, not a large amount of coins are required on day 1. Not all the premined coins will be lost in one go if the wallets are breached. This will also prevent a large dump of coins soon after the launch by the claimant. If there is not enough mined coins, then the claimants will have to wait for the coins to be available. The slow release of the coins is beneficial to the long term health of the coin. However, this process will give the developers less control of the coins, they may not like it. |
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The problem with buying on the market is that if you put a 1 Bitcoin order on the price just goes up and it does not fill! I will try with lots of small orders. I have already invested in Hirocoin but do not want to use that for bounties as my concern is that the price will shoot up before I can replace those funds.
Did you fill your buying order? I notice more than 1BTC trading at around 1800 satoshi. |
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From what I read above, the GB coin should not be another clone.
I think you should not premine to give miners/societies the confidence that the premined coins will be dumped to the market soon after listing. In order to achieve that, I would suggest that you program the wallet/mining process that for the first 10 million coins, 6% (600,000) of the mined coins will go to specific wallets/addresses controlled by developers or trusted people. That is for every block mined, 1.2 coins will be sent to various addresses. This process will take 692 days if the actual block time is kept at 2 mins and not block halving.
These 600,000 can be released slowly to developers and give-away. If we can keep developers paid in long term, they will be more motivated as their remuneration will be dependent on the long term success of the coin, not just short term mine-pump-dump.
It might take some time to implement this and delay the launch. But it is worth it.
I hope this will be a successful project and the coin will be used widely in UK and the world.
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The first one is more like a coin. The second one is more internationally friendly.
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Certainly, just point them to the same wallet computer  and are they automatically working together efficiently? what i mean by efficient is that they arent going to solve the crypto that the other machines already inputted? say i have 4 machines (1 machine have 3x7950?), and all of them know each other crypto that they tried?? #1 tried aaa, and #2 bbb , and #3 is ccc, therefore #4 wont solve aaa/bbb/ccc rite? it will solve abc or ddd or cba  Basically, the wallet will send different work to each miner. If the wallet sends out different work to each miner, then the pool with more miners will be better than smaller pools? For solo mining with 4 wallets/miners, it is worse than solo mining with just one wallet but 4 miners? As the later does not do the same work on each miner. |
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Is it safe to deposit Dogecoins at Cryptorush right now?
They have a warning sign on the front page.
It is better not to. I had lots of PND disappearing at Crypto Rush, even though it is not on their "Depleted wallets" list. |
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yeah i just got it and i am getting around 5mh with my old 7950
Could you please tell us more about this miner? Thanks a lot in advance. |
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