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Instead of just copying what quark and other coins have done, I think there should be long term strategic change in the hashing mechanism to make it truly ASIC and bot-net resistant.
We can't just keep hardforking Litecoin again in the future when people start building ASICS for X11.
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I like litecoin, let's hardfork it lol
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Anyone has got the perfect CGminer setting to mine Thorcoin on Sapphire R9 280x Dual-X OC cards? Here are settings and only getting 3MH/s for each card, but I know it should be 6MH/s out of my R9 280X: "gpu-engine" : "1020",
"gpu-memclock" : "1250",
"thread-concurrency" : "8192",
"intensity" : "13",
"gpu-threads" : "2",
"worksize" : "256",
"scan-time" : "5",
"gpu-reorder" : true,
"scrypt" : true,
"Nfmin" : "4",
"Nfmax" : "30",
"StartT" : "1393167677"
Windows 8 OS. Running on 13.1 Catalyst Driver. Using Thorminer as posted by OP. (tried upgrading to Catalyst 13.11 beta version 95 and Catalyst 13.12 but respectively, it didn't work at all, kept receiving "GPU failure" message inside cgminer). Can't seem to get 6MH/s of each card or to get it work at all with newer drivers. |
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Ok, I'm off to sleep now. If you PM me Thorcoin offer, sry for delay in reply.
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Buying total of 15M ThorCoins for 1BTC. OR if you don't have enough 15M ThorCoins to sell, buying at THOR/BTC = 0.000000067 BTC. Will only deal with sell offers of at least 1M THOR PM or contact me via my website http://ecoinomist.com/contact |
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Buying total of 15M ThorCoins for 1BTC. OR if you don't have enough 15M ThorCoins to sell, buying at THOR/BTC = 0.000000067 BTC. Will only deal with sell offers of at least 1M THOR PM or contact me via my website http://ecoinomist.com/contact |
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Taking ideas from some other projects and posting it as [ANN], ok, I'm REALLY INTERESTED to see this "scam“.
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I highly recommend getting R9 280x cards, and stay away from the R9 290x if you can (the noise and heat is unbearable). Sapphire cards are the best, but Gygabyte is the second best option. The optimum setup is 4 GPUs, and you don't need double PSUs, just one Cooler Master 1200W will do a perfect job. Aluminum frame is much better for dissipating heat and thus extending life shell of GPUs. It's also much easier to put together and fix things, compared to tight spaced plastic boxes. I have a step by step video tutorials for building the rigs, which you can easily turn into a full blown mining farm like shown on my video. My design is cheaper, easier to build and runs more stable, cooler and quieter than the one in the youtube link the OP posted. |
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The new trend is mining altcoins with specialised GPU algos. So yes, ASIC Scrypt mining investment just doesn't make sense to me, because it's too much risks and it's not much better than building a GPU miner, in terms of hashing rate (at least for now).
With GPU mining you get all of these benefits:
a) big community support (even from the old bitcoin community who still have GPU rigs/farms)
b) adaptable to mine new generation altcoins that are still popping out every day, with slight changes that only require modded CGMiner (with an ASIC Scrypt miner, you will probably be stuck mining certain existing coins)
c) if anything goes wrong, Bitcoins crashes, etc. you still can recoup the investment by selling back the computer parts on eBay.
For strategic investment point of view, the saving in power consumption from ASIC scrypt miner just isn't worth it's risk and limited potential, tbh.
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hey, when will we have HulkCoin?
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Seriously, 6 R9 290X in one board is overkill and expensive to build by the time you add in all the power supplies.
These 290's are extremely power hungry and heat up like crazy. Even if you manage to get it up and running stable (unlikely), it will be super heated and probably break down or have issues within months.
Just do some cost analysis for yourself, using a standard cheap Asus or AsRock mobo which sells under $69 and can ran 4 GPUs is a much better option in my experience. Saves you money, troubles, headache, time fiddling around and most importantly, has been proven by many to run stable over extended periods.
My 3 GPUs setups have been running smooth for over a year now. And I'm very certain that it's cheaper per Mhash than building 6 GPU rigs for the same cards, no matter what card you use, be it R9 280x, or 290 series.
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I have built dozens of GPU rigs to date, and the setup that gives you best mining yield for dollar requires 3 or 4 GPUs, currently the R9 280x. This will, however, cost your around $1800 to build. What you can do, is create an excel file with all part's list and cost with automated calculation (I did that before), and it will be very clear what optimum setup you can get for $1000. |
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Is this a joke or what? the Op can't even spell things, at least dezently...
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Seriously, most alts just get lots of buz initially and then will die off. Though IMHO, BTC and LTC will stay as digital Gold/Silver standard. And there will be room for one more, as digital currency that ppl will use to buy/sell on a daily basis, like buying coffee. What that coin will be, I don't know, and it probably does not exist (not yet). For now, enjoy the ride and make profit mining things like Dogecoin when the buzz is still hot  . |
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Your post is really priceless.
1) You didn't explicitly say VISA is currency/money. You implied this by comparing VISA to Primecoin. If i'm wrong why do you compare apples with oranges ? And be sure that even "average Joe" will see differences.
2) This thread isn't about eMunie? okay then don't refer to this scamcoin
3) You talk about central banks, but your video link is on commercial banks. Central banks create money out of nothing (that's why it's called Fiat, like in Fiat lux!), Commercial banks create money by issuing asymmetric debt (with $10 in assets central banks authorize them to lend 200$). It's certainly not the same business. Again you seem to mingle economics concepts, economics agents and relation between them. You want to learn a bit ? Go an buy G. Mankiw book Principles of Economics (even if it's a keynesian book, it's well written)
My point ? I'm really far far from being a noob in economics, and all your arguments against primecoin are /dev/null . They just show how much you're ignorant. Nothing more. Nothing less.
Ok, I get it, someone may have been butthurt because: A) They just bought in Primecoin when the prices rose back to 0.009, thinking Primecoin is back to the glorious 0.019 days again B) Were not in there from day one and just only figured how to mind this thing on VPS, only to find a factual report like mine to show up C) Still hold lots of XPM, hoping to GRQ one day. PS. Should I read a book to understand how economics work, because "academic" is my type and I can't think for myself? As a web marketer in an ever changing internet world one thing I noticed is that I tend to trust my own logical analysis, research and experience to find facts. Should I change that way of thinking and listen to the flock, like a sheep? Thank you very much for your kind book recommendation, which has 3.5 out of 5 star ratings and a large number of reviews (18 so far since 2011 on amazon) - I hope it helps me understand how economics work just like it did to you |
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I didn't want to talk on this, but at this point there is no other choice. You don't understand economics, you don't understand computer science that's pretty clear now.
First what is a currency ?
You seem to like VISA business model, but VISA is not a currency, it's a DEBT ISSUER company, just like a bank but without fiat money issuing power (not regulated by fed, ecb, boe, boj...). So if eMunie is a Visa-like scheme it's doomed to fail. Visa/Mastercarcd&co process transactions in few seconds so you're not doing something new, and unlike eMunie, people trust them, they're in business since a while and you know what ? economics and particularly money is about trust.
A currency is a mean of exchange, primecoin can be exchanged
A currency is unit of account, you can basically value anything you want in primecoin, even if his "market cap" (it's better to talk about money supply) isn't large enough to let you buy anything you want
A currency is store of value, that's definitely the most important when it comes to cryptocurrencies, bitcoin included and that's also why regulators want to step in. am I gonna lose my money if I invest in bitcoin/primecoin/whatevercoin. So As long as primecoin keep/increase/manage his value, it's a valid store of value.
You talk about commodities. A commodity is simply anything that can be freely traded so even USD/EUR/JPY are commodities traded on Forex markets. The only difference compared to nature-based commodities is simply Ben Bernanke & co playing roles of "mother nature" for the sake of all of us. You seem to mingle scarcity and commodities.
Now i'll tell you why Primecoin is the best alternative/complement to bitcoin :
-It's fast enough for online transaction. One minute is an acceptable tradeoff for e-commerce. But bitcoin is fine too if you add a layer that can indicate that buyer BTC address has enough funds; nevertheless a fast coin increase Velocity of money and therefore is definitely a plus.
-It can never be merge mined with Bitcoin. So they are two different currencies just as Gold and Silver were.
-It's not a capped coin. Therefore it's still share some characteristics of current fiat money. Continuous supply should stabilize value of XPM and discourage hoarding as value doesn't increase with time. Basically it's like a pure neutral money. World GDP has increased over time (think about before J.C and now), so it's safe to assume a little inflated money to expand innovation and growth.
-Bitcoin won't be the only crypto in town. Friedman in Money Mischief stated that bi or tri-currencies scheme is always better than "monocurrency". I share this view, Gold lost to fiat, because of silver demonetization, so for me bitcoin need altcoins.
Why I picked primecoin among alt-coins satisfying previous statements ?
- because of his PoW. Gold had intrinsically almost no value other than aesthetic and durability. But there were many durable commodities, so it's probable that people picked Gold and Silver because they were aesthetics. Translated in virtual scheme, Primecoin use of prime numbers is equivalent. For many people (mathematicians) primes are like numbers of God, they seem to follow a pattern and could be seen as very aesthetics.
You don't like XPM, it's okay. It's a free business. Wait for eMunie and stop wasting your time telling us we're wrong while you don't have a clue about how monetary stuff works.
Same old retaliation posts... I never said Visa is a currency, stop being ignorant and read the thread before you post. As far as I know, I use Visa/MasterCard everyday (90% of the time), but they don't print money, it's the central banks that print/create money physically or digitally. FYI: http://youtu.be/01IusDeSPE4This thread is not about eMunie, so please refrain from going off topic and pigging back on other currencies (and it's nothing like Visa, btw). This line is a pretty clear description of yourself: You don't understand economics, you don't understand computer science that's pretty clear now. |
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Just because you couldn't understand how Moore's Law regulates inflation in the long term does not mean it doesn't work.
PPC has already demonstrated that it works very well, via an accelerated schedule due to the introduction of ASIC mining. PPC currently has the lowest inflation rate among all top altcoins. How about a collapse in demand? Let's say PPC price drops to 0.0001, 6% of its current price, how about difficulty then, still gonna be at 60K, inflation rate is only going to double at most, still way less inflation than quite a few altcoins such as FTC. That is exactly as designed, Moore's Law would dominate the scarcity model in the long term, demand only plays secondary role in short term.
The scarcity model is by design and of course intentional. It strengthens scarcity in the first four years than bitcoin's design, meanwhile also gives early adopters/investors reasonable advantage. I am pro free market and do not have a jealousy problem toward them, rather I recognize their important roles to help with the growth of the currency.
What you link is propaganda from CMC people. They copied PPC without giving credit yet spread this propaganda about how PPC and XPM (among several other top altcoins) are unfair. Yet they conveniently forget to mention in their malicious propaganda that both PPC and XPM had about 10 days of pre-release notice so the mining public had fair opportunities to participate. Also, both PPC and XPM have no cap, meaning in the long term the seemingly high initial mint quantity would be constantly diluted unlike other coins with cap scarcity model.
Again, I must say that your whole theory relies on steady demand for Bitcoin, PPC and XPM alike. You have not taken into account disruptive technologies, such as Decrits (which is for pure example only - unlikely to ever realize) or eMunie (still in beta, but close to initial launch) that will take over the whole Bitcoin niche (which to date only has about 200K users, max). In two years from now, Bitcoin has a very high chance of becoming "history" when it comes to functioning as a currency, and may only be used as a store of value by then (a commodity), because new things like eMunie will be able to process transactions in seconds, not minutes - so while not designed to be a "commodity" - it's function is very clear - to be used as a currency and it suppose to do that better than what Visa has already accomplished. I'm sure Satoshi was very clear about where he wanted to see Bitcoin going over the long term - to function as a commodity and a stepping stone towards decentralized currency revolution - and that is what eMunie is NOT designed to replace (but who knows, maybe someone else will create something better than Bitcoin in the future to be used as Digital Gold!). That's why I see no future for Primecoin, nor PPCoin, because you don't seem to have planned out a clear direction of where you want to see your coin heading in the long term. Both Primecoin and PPcoin are lost in between being a "currency" and a "commodity" - but do a horrible job of both... |
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If that were the case, you should be denouncing bitcoin and gold rather than making claims that how primecoin's scarcity is inferior to bitcoin.
As I explained in OP, you don't really have a "scarcity" model to begin with. Here is what both Bitcoin and Gold have in common, which is legitimately regarded as " scarce" by dictionary definition ("not abundant): - no matter what the demand for Bitcoin or Gold is, the amount of BTC/Gold is caped and production rate only slows down over time in a long term trend (where no major technology break-though happens.) Primecoin, however, relies on "projected" increasing demand to keep it "scarce", but when demands drops, there is proportionate "abundance" => this does not justify the definition of "scarce" - "not abundant". There is no such assumption, the scarcity is based on Moore's Law, the fact that difficulty and mint rate change with demand is just incidental and temporary effect, which has no bearing on the long term scarcity model.
"the scarcity is based on Moore's Law"? Common, you make me Laugh MAO    I'm sure someone like you knows better than most trolls in this thread that no (alt)coin scarcity can be based on technical Moore's Law, that's not how it works. History has proven again and again that human "demand" for insufficient supply (or perception there of) is what creates scarcity, not technical limitation of some mathematical or computer algorithms. the fact that difficulty and mint rate change with demand is just incidental and temporary effect Ok, I see that you finally admitted that you did not think through when designing Primecoin's demand/supply system. Whether that is truly " incidental" or " intentional" - I'll leave to people to judge, based on your PPCoin release history. |
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