So I'm getting 1700 primes/sec. How often should I expect to find a block? (According to your experience)  35.000 pps get me one block the last 20 hours, you do the math  Hmmm... that makes me think it isn't worth it anymore  Are there any other CPU coins? |
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So I'm getting 1700 primes/sec. How often should I expect to find a block? (According to your experience) |
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Concerning the possibility of lost coins/stolen coins. I am tinkering with the idea of funding them anyway just to give confidence in my brand of coins. But I haven't made a final decision on this yet.
So far there haven't been any stolen coins in the past few years as far as I am aware (or lost ones via registered mail).
At the moment I am concentrating on getting orders out in a secure manner.
Future batches will likely have a vanitgen address to decipher different batches of coins much like Mike does. This is a good idea in keeping things simple when something goes lost.
I too agree most people wont check the public list or block explorer especially people who are just learning about bitcoin/litecoin etc. I'm glad you are considering this. What has made Mike's coins so valuable is the confidence in his brand that has come from him being meticulous at every step. The hologram is a very important part - an official hologram should guarantee the coin has been funded by Mike (or with Lealana coins, you). |
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I think it is very important to clarify whether any coins could be sent out with a hologram on and yet end up not being funded.
If we have to rely on checking the public address, what is the point of having a tamper-proof hologram?
The cost of funding a coin that may have been lost or stolen in the post is worth the benefit of having a whole circulation of coins that are guaranteed to be funded.
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I think it would be in the best interest of both casascius and lealana coin owners if there was a guarantee that and un-tampered hologram = a funded coin.
People can check on the internet, but this is a physical coin.
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I'm gearing up to ship out a second set of orders on Monday (HST) and throughout the rest of this week. You will receive your tracking number once I ship your order out.
Any orders that were made after July 12th may not ship until the week of the 22nd. It could ship before then, but no promises as I try to get through all of the current orders this week. Please keep that in mind when ordering.
There is one thing I would like to make clear on the funding of coin purchases.
ALL coins that are purchased from me will be funded AFTER I have verified with USPS that your package has been received by the addressed party in the shipping information you provided to me. Meaning they have signed for it.
This ensures that in the unlikely case your package goes missing or is stolen that the thief will not have access to the LTC that is to be stored in the coins. Also it ensures that the the person who it is addressed to actually gets the coins and cannot claim they never received them. The problem with this is it could result in worthless coins "in the wild", breaking the assumption that "un-tampered hologram = legitimate coin". I assume you only do this if the shipping company assures you the package was lost, not in the case of buyer disputes? Also will you at least publish a list of valueless coins? This is a very good point. |
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Will buy 5 shares as soon as I have the confirmations |
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I don't quite understand how this is any different from the "paper games" being played with gold and silver in order to suppress them. So could this ETF be the instrument the enemies of bitcoin could use to suppress its price or not? I still can't answer this question even with this detailed info you guys here are distilling from the document.
TL;DR? Yes It isn't much different to the gold and silver paper games except in respect to time-frame. Gold and silver ETFs in large part did become the primary mechanism for price discovery. In part that is an artifact of how gold pricing was previously set (using a very old and non-transparent method of five bankers in London deciding what it was). That was easily replaced by the real-time pricing of ETFs. Bitcoin already has that real-time pricing though, so it may likely not follow the same path... But to put out an answer... If Bitcoin has enemies, and if they wanted to suppress the price, (or introduce volatility) and if these enemies have enough fiat, and if such an ETF becomes the primary mechanism for price discovery then... yes. These same games could supposedly be played out on current BTC exchanges? So what is the difference? With an ETF, some brokers would allow clients to short sell with USD collateral. Currently, you can only do this if someone is willing to lend you BTC. If the problem is that people will be able to do what they can with any other currency, then that is not a problem. |
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I don't quite understand how this is any different from the "paper games" being played with gold and silver in order to suppress them. So could this ETF be the instrument the enemies of bitcoin could use to suppress its price or not? I still can't answer this question even with this detailed info you guys here are distilling from the document.
TL;DR? Yes It isn't much different to the gold and silver paper games except in respect to time-frame. Gold and silver ETFs in large part did become the primary mechanism for price discovery. In part that is an artifact of how gold pricing was previously set (using a very old and non-transparent method of five bankers in London deciding what it was). That was easily replaced by the real-time pricing of ETFs. Bitcoin already has that real-time pricing though, so it may likely not follow the same path... But to put out an answer... If Bitcoin has enemies, and if they wanted to suppress the price, (or introduce volatility) and if these enemies have enough fiat, and if such an ETF becomes the primary mechanism for price discovery then... yes. These same games could supposedly be played out on current BTC exchanges? So what is the difference? |
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Why would they bother with this when there are already tools that let merchants manage (or even eliminate) volatility? Coinbase and bitpay already have functionality that can do this for merchants.
(The last I knew, when the likes of Coinbase or BitPay referred to "managing volatility", what they meant was "avoid volatility by not holding Bitcoins any longer than necessary".) yes. Coinbase and Bitpay service function in an automatic way rather than managed, in short they aren't ETFs. When you are looking at large merchants, there are even better options than what Coinbase and Bitpay type services do. This is one of the things that ETFs and commodity futures products were designed for, to manage volatility in your supply chain. If you want to manage risk (as it take some measurable and flexible risk and get the reward of that) but not lose flexibility, you can hedge against your risk with an ETF to as much extent as you please rather than being in a fixed percentage with automatic conversion to fiat. Coinbase and Bitpay have the Small-Medium Enterprise (SME) as their sweet spot for marketability. It seems that if we want big business to start accepting bitcoin, we need an ETF for them to manage risk - at least while the currency is so volatile. |
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I have an i5 2300 cpu and my pps rate is fluctuating between 30-70. I am using release 5 with windows. I just downloaded the program, synced and than started mining about an hour ago. Do I have to set sth. or what?
I think average 40 pps with an i5 is too low.
Please someone help.
I'm on an i5 and get 61 per second. It seems the primepersec measurement isn't too useful; see how many block you find instead! So far I got 2 blocks with the original version in 2 days. Now I am getting nothing with this release. Should I keep on trying or what? How many blocks are you getting? I was getting a block a day with the original version, now I've updated with Sunny's new code I get maybe double? It's impossible to tell with such high variance. |
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I have an i5 2300 cpu and my pps rate is fluctuating between 30-70. I am using release 5 with windows. I just downloaded the program, synced and than started mining about an hour ago. Do I have to set sth. or what?
I think average 40 pps with an i5 is too low.
Please someone help.
I'm on an i5 and get 61 per second. It seems the primepersec measurement isn't too useful; see how many blocks you find instead! |
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So we now have Primecoin which I think is the first coin to have a mining function that has benefits outside the cryptocurrency world. Could we now have a protein folding coin, for example? It will be interesting to see if Primecoin starts a new wave of 'useful coins'; coins that serve a specific purpose. The exciting thing is that in order to help promote a coin that is helping cure a disease, all you have to do is buy and use that coin. The greater the value the more people will mine. |
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So I just updated to the most recent version of the miner from Sunny King, and now my ten minute rolling average pps is ~600 pps (custom calculation script) on 8 threads. Woo!
Now to see if that correlates to finding more blocks.
Everyone update and stop bitching about people "stealing blocks", lol.
Edit: I forgot to mention that my previous average about 42 pps. Additionally, I compiled the update will the default options on OSX, running on a quad core 2.2 GHz Intel core i7 on macbook pro.
Sounds good! How can a noob on windows 7 take Suny's github code and update their miner? |
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Have you seen Smoothies LEALANA Silver LTC coins? I've order a couple I've heard of them. I haven't seen them until you just endorsed them. They do look nice. I'd order some if I wasn't so bearish on LTC. Honestly, I have more hope for XPM than LTC. XPM is the first altcoin that I think may have a serious future. I too am very hopeful for XPM. Short term at least, I can see LTC doubling. Longer-term maybe more innovation is needed |
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Wow, thank you so much! I'm really glad you like it. Have you seen Smoothies LEALANA Silver LTC coins? I've ordered a couple |
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AKcim9Z1fZEh8YuE8HBCJ89cCEdPs2t7w7 Thanks |
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I agree that the LTC/USD price will likely crest $7 after Gox, but this will happen organically. You don't have to manipulate anything -- just sit back and watch the numbers.
This is pretty much my opinion. Had BTC not fallen, I think we would be between $4 and $5 right now. |
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I wonder if MtGox will take action against this ?
Something like only allowing verified accounts to deposit Litecoin for the first week of it's trade should do the trick.
...or just giving everyone time to move their LTC to Gox before trading starts. This is something I have thought about. You have to allow people to load up their MtGox LTC wallets before trading happens. I'm interested in the logistics of this. |
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