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1  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: November 19, 2014, 12:38:28 AM
i see what this is now.. Anthem Vault, a place where you can buy/sell gold and silver, had a free 100g of gold on hand, and decided to get into the crypto scene, quoted 100 1g pieces of gold for every 100k coins mined as a reward if they hand the coins in.
i don't think them coins would be pushed back onto the market/public, once all 100g is taken up, and in your profile of anthem vault (to trade at their site, or take home?)

Its just a complex Advertisement for the vault site! I don't think they will reissue the coins to the public once all the 100g of gold is taken up. they may make a new coin for some new amount or another metal, but its not for the long term.

Someone Please prove me wrong by showing me something like a white paper to clarify what they are really doing.

aka i'll take it back that its a scam coin, no one is going to lose out on it. its just an.. ad-coin? advertisement crypto currency?
so Mine up kids! mine up till your hearts content, Bask in the glory of the gold! it will only last for a short time!

I think the rest of the questions at this time are moot.   You pretty much hit the nail on the head.   This is an ad-coin at the moment.   Nothing more than a 100gram marketing experiment.      Good thing for those of us mining, is we are mining real gold and doing it for less than the gold costs.    The other good part is gold is currently undervalued compared to the inflated us dollar.  

While this is a very low cost marketing campaign (less than $4k).   It's fun to mine and to know you have some gold.   I can do an ACH cash out of my vault at any time.   The buy and sell process is very easy.

I don't think they will reissue the coins.  Though they could, but the value would have to go up a large amount.  It may depend on how many coins they buy back.   If there are many still floating around it wouldn't be good to try and resale at higher value as they would be backing the gold asset it is tied to.  But if they buy them all up, they could easily use it as a preminned gold exchange and then the marketing experiment worked two fold.  Advertising and mining of an asset.   There is definitely no scam here as they have been open on this being a small marketing campaign back by a small amount of gold.

Just finishing my 2nd 100k coins this week.   I also have gold and silver in the vault that I purchased (so marketing worked on me as well).








2  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: October 10, 2014, 11:36:54 PM
Been done a bunch of times, always failed.

Here's the latest, something called MidasCoin:  https://bitcointalk.org/index.php?topic=784286.300

They say they'll give you a set amount of gold per coin no matter what.  On Bittrex the price is crashing.  To meet their promise they'd have to buy extra gold and send it to people for worthless MidasCoins.  Good luck with that.

Did you @ least  go to https://www.anthemvault.com/  ?  Just to see who they are ?  Wink

Gotta love the haters.   More coin for me.   All I know is the gold in my vault is increasing for less than the cost of each gram.   Hard to complain.  Grin  I can't wait to see what they do with the coins or what the next blockchain will be like if they just scrap this one.  When I transfered  the other day Josh at AV indicated they are working with some exchanges now.

Another friend is looking at BIG coin.   Which is using Gold, Silver and Copper as backing.  I haven't looked into it yet.  Though he has a couple Antminer S3s for his rigs.   I'm stuck with a GPU for now. 
3  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: September 24, 2014, 01:09:42 AM
Sorry to ask this again, Its just getting to the point that I have so many coins that if anything happened I would have just wasted all the time I put into this... Does anyone this the following message will affect the coins that I have mined and that are in my wallet - "Warning: Displayed transactions may not be correct! You may need to upgrade, or other nodes may need to upgrade"?>>>

Where is the message displayed?  I've never seen it.   Is this a wallet error or from the miner?  You could always install another wallet on a different machine and transfer the coins between addresses to see if they transfer ok.



4  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: August 06, 2014, 01:14:36 AM


]Most other currencies are not so tied to the USD anymore.......Euro is against USD , Russia /together with China/  , going against it ....... Gold and silver have their history , and don't need some fake governments behind it  - why it is called "gold reserve" ??   - http://en.wikipedia.org/wiki/Gold_reserve


I forgot to add that some of the gold reserves are possibly over inflated.  The US gold reserves are believed to be no where near the stated amount, while China has been purchasing tons of gold to build up their reserves.   Another reason why the Chinese currency will probably surpass the US currency in the near future.  Though I doubt the elites that are the major shareholders of the private US federal reserve will allow it to happen for too long.   Long enough for them to make money and steal the gold prior to causing a crash of the Chinese monetary takeover.   Not many places left that actually create wealth based on manufacture of goods, at least China has that going for them.  But the growth of the Chinese middle class and not many children to support the aging population, I don't see it lasting very long anyways.




5  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: August 06, 2014, 01:03:43 AM

I would not want to discourage anyone from mining INNcoin or investing in gold, but at least for the short-term, gold is likely to substantially drop in value soon. The price fix mechanism is being removed. For several years the value of gold has been intentionally manipulated up to "false" values.

Gold and silver have been manipulated.  And the fixing mechanism isn't being removed for any of them.   And the values have been manipulated to stay low not high in order to protect the USD.     Look up naked shorts.

It's only a matter of time before the USD bubble bursts.  While most other currencies are tied to the USD and will also crash, gold and silver will still remain a free market based storage of wealth.  It just may not be as liquid as some would hope, though with AnthemVaults exchange methods it may be somewhat liquid if the entire system doesn't come crashing down. 

Inncoin could disappear just as easily as the USD, as it's still only a currency (an exchange mechanism).  There is currently no contract, no guarantee that the crypto currency is legally backed by gold.  I don't think a court of law will require them to pay me in gold if I want to exchange my current coins (The whole $2 worth I have managed to mine).   But if AnthemVault gets serious and really wants to push the use of the inncoin, they will need to purchase the mined coins for use.  At this time I don't think anyone is willing to sell the coins they mined at the current rate of 0.0224 / 50 coins.  Thus causing them to require it to be backed by additional gold.  If they decide to drop the inncoin and move on to another coin/new block chain that would be bad marketing on their part.   It's a gamble.

Happy mining!






Most other currencies are not so tied to the USD anymore.......Euro is against USD , Russia /together with China/  , going against it ....... Gold and silver have their history , and don't need some fake governments behind it  - why it is called "gold reserve" ??   - http://en.wikipedia.org/wiki/Gold_reserve


The federal reserve banking system of the US has more control over euro and other currencies than most know.   Here is a list of countries with foreign exchange reserves (excluding gold).  Most of these reserves are tightly held to the USD as the primary reserve.
http://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves_%28excluding_gold%29

When the Chinese currency is doomed due to the private debt in China.  While the government has money in the bank, the country's debt as a whole is near or over 200% of their GDP.   

The USD is coming to and end though as Russia and others start moving more towards China as the new reserve currency.  I just don't see it lasting as long as the USD did due to the extremely high debt based economy of China.  Or at least as long as everyone stops holding USD as the primary method of exchange and allow multiple currencies for major commodities.

It's hard to know what fiat to store, so gold and silver remain the best storage of wealth IMHO.



6  Alternate cryptocurrencies / Altcoin Discussion / Re: Everybody mining this needs to do this now on: August 05, 2014, 11:52:31 PM

I would not want to discourage anyone from mining INNcoin or investing in gold, but at least for the short-term, gold is likely to substantially drop in value soon. The price fix mechanism is being removed. For several years the value of gold has been intentionally manipulated up to "false" values.

Gold and silver have been manipulated.  And the fixing mechanism isn't being removed for any of them.   And the values have been manipulated to stay low not high in order to protect the USD.     Look up naked shorts.

It's only a matter of time before the USD bubble bursts.  While most other currencies are tied to the USD and will also crash, gold and silver will still remain a free market based storage of wealth.  It just may not be as liquid as some would hope, though with AnthemVaults exchange methods it may be somewhat liquid if the entire system doesn't come crashing down. 

Inncoin could disappear just as easily as the USD, as it's still only a currency (an exchange mechanism).  There is currently no contract, no guarantee that the crypto currency is legally backed by gold.  I don't think a court of law will require them to pay me in gold if I want to exchange my current coins (The whole $2 worth I have managed to mine).   But if AnthemVault gets serious and really wants to push the use of the inncoin, they will need to purchase the mined coins for use.  At this time I don't think anyone is willing to sell the coins they mined at the current rate of 0.0224 / 50 coins.  Thus causing them to require it to be backed by additional gold.  If they decide to drop the inncoin and move on to another coin/new block chain that would be bad marketing on their part.   It's a gamble.

Happy mining!





7  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: August 01, 2014, 05:47:11 PM
What's up with the pool??? Something is wrong...

Looks to be back up.  I received my payout from what was still on the system.    I was able to mine 26 blocks at 1.8MH directly from my wallet while the big dogs/pool was off line.  Yay!! 

I'll jump back on when the difficulty jumps back up.  Smiley
8  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: July 30, 2014, 07:56:45 PM
                                                               
                                                             INNcoin POOL  : inn.hash.sx 


There is stil no linux wallet released from Anthem Vault , so there must be some frontend messages on the pool as : We are investingating issues in the backend. Your shares and hashrate are safe and we will fix things ASAP, and other small visual mistakes , but it is functional 100%.Net hash and pool hash also didn't show proper , but that is all we can do for now only with windows wallet.Feel free to try it.


I'd love to know what kind of setup you are using to achieve 150MH.   Makes me feel very tiny with a single Geforce GTX660 running at a measly 1.8MH.  Smiley



I would like to know that also.  Maybe KH was intended?
It is X11 algo , so the coin can be mined with GPU - what is so strange to you .....it is just a a mining farm . Btw today Anthem Vault released a Mac version of the INNcoins miner , for registered users  Wink

Would you mind sharing what type of cards and quantity as well as how much power you consume on the setup?  I was just curious.  I wanted to setup a nice GPU farm for bitcoin prior to the ASIC boom.  Great way to re-purpose a good GPU setup.  I'm also using a mid level card with the GTX660 and would like to at least have at least a 770 running.  I'm guessing dual 770's would be pushing close to 6-8MH.    Are Nvidia cards better on X11 or AMDs?   Would take quite a few in the farm to hit 150MH though.   For the $60 (current worth) of coins shown in the pool, I'm guessing you have spent close to that in electricity?   I'm using the name nexus on the pool.   



9  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: July 30, 2014, 07:12:47 AM
                                                               
                                                             INNcoin POOL  : inn.hash.sx  


There is stil no linux wallet released from Anthem Vault , so there must be some frontend messages on the pool as : We are investingating issues in the backend. Your shares and hashrate are safe and we will fix things ASAP, and other small visual mistakes , but it is functional 100%.Net hash and pool hash also didn't show proper , but that is all we can do for now only with windows wallet.Feel free to try it.


I'd love to know what kind of setup you are using to achieve 150MH.   Makes me feel very tiny with a single Geforce GTX660 running at a measly 1.8MH.  Smiley

10  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: July 26, 2014, 07:23:08 PM
Has anybody actually managed to mine any coins yet?

I suggest reading earlier pages in this thread. Many questions would be answered before even asking a repeat question. Just a suggestion.. not to be taken in a negative light, please.  :-)
Right now difficulty is 2.82  , and net hash across 50 mh -  everyone can mine even from the wallet with his CPU.

Lots must have dropped off.  I was hitting 3-4 blocks per day for the last few days at 1.8M hash.  I have hit 10 blocks today.  YAY!!

11  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: July 22, 2014, 08:23:05 PM
Any Idea what software I can use to mine this with hd 7970 or hd 7850?

Same as darkcoin http://wiki.darkcoin.eu/wiki/Mining_Darkcoin

based on the .conf file changes I indicated a few posts back (server = 1, add RPC port and path) I would attempt to use the following with sgminer for ATI cards. 

sgminer --kernel darkcoin -o http://127.0.0.1:9332 -u inncoin -p (your password)

on a side note it also looks like the set generate turns the cpu generation back on inside the wallet and does nothing for GPU mining purposes.

Let me know if this works for you.
12  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: July 22, 2014, 07:59:16 PM
I am also mining from day 1 ......This is not some 12 year old kid making some scam coin you know.......This is real gold trader, with good reputation ! There is no IPO ICO premine etc usual scams , or some web site build 2 day ago with a nice flash on it ........ I think when something as real and visible to all of the ppl is working perfect , it needs just little announcement , which i think we will see soon enough .

Agreed.   I have gold and silver in their vault and wish them the best.  I think they are starting it out right.   I also think the number was initially low to make sure they have their ducks in a row and that they do it the right way and not get ripped off.  I think the only part that will backfire for marketing is they are still sending out advertisements for people to use the CPU mining built into the wallet.   That is a complete waste of time now that GPU mining has taken off.   Wish I would have started it sooner with GPU.  Smiley
13  Alternate cryptocurrencies / Altcoin Discussion / Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free on: July 22, 2014, 07:39:29 PM
And what if  AnthemVault decides to increase the  value of the coin ?  It is not a big deal for them , as an proved gold trader ....

~12,000 blocks have been generated (11,933 as the sending of this reply) out of 200,000 total blocks on the proposed chain.   They could possibly double or quadruple the value easily as the current 100g backing is a very low amount of gold to start with and easily within a marketing budget to still increase.    Also it would be a bonus to those early on as part of helping kick off the generation of the blocks that they can then resell for gold and use as part of the overall portfolio.   I am hoping for such as well as an increase in the value of gold as the dollar continues to fail.   But at the current time, I still don't see it being worth what it costs to generate.  Again that is part of the gamble of any coin.  Smiley

I didn't say I was going to stop mining just yet though.   But a few blocks per day just doesn't pay for the cost of energy used and will hopefully deter others from mining my blocks.   Wink

14  Alternate cryptocurrencies / Altcoin Discussion / Re: Everybody mining this needs to do this now on: July 22, 2014, 07:18:23 PM
I figured that out

check getmininginfo in console and you will see that generate is set to FALSE

just close the wallet and add -gen after the target
i.e.
"D:\Program Files (x86)\Anthem Vault\INNcoin\inncoin-qt.exe" -gen


If anyone hasn't done this you won't generate coins

check getmininginfo in console and you will see that generate is set to true



You can also start mining from within the console by typing the following:

setgenerate true

I am guessing that the generate coins doesn't need to be set.  I have mined 850 coins so far (most of them using the CPU mining on the 17th-18th) and converted over to GPU mining on the 19th.   I was getting 95k hash with CPU (i5 Sandy Bridge) and now I'm at 1880k with GPU (Nvidia GTX660).   The 50 coin block appears in my transaction log as soon as one is found with ccminer.  It takes over 100 additional blocks to be found on the blockchain before it matures and is added to the balance.

I only modified the .conf file as follows:

server=1
rpcuser=inncoin (this could probably be changed, I left it default)
rpcpassword=xxxxx (use your password, I'm guessing the default one was autogenerated)
rpcport=9332
rpcconnect=127.0.0.1

I changed server from 0 to 1 to allow RPC login.  added a port and local address.

I utilize ccminer v1.2 with the following batch file
ccminer.exe --algo=x11 -o http://127.0.0.1:9332 -u inncoin -p (your rpc password)

"[2014-07-22 14:53:01] GPU #0: GeForce GTX 660, 1883 khash/s"

Either way, it takes about $0.24 in energy (plus your GPU is out of commision during mining) to earn around $0.05 in inncoin (on today's gold price) per day.  This will keep going up if more people jump on the GPU mining bandwagon.   Only good for those who want to lose money, which I'm doing at the moment for fun.  Smiley

My energy calcs is based on 100watts of energy used at $0.10/KWH or roughly $0.24 per day.  Based on a set value of 100 grams of gold (~$4100) for 10 million coins, a block of 50 coins is valued around $0.02.   That means I have paid ~$0.75 in the last 3 days to mine $0.12 worth of inncoin/gold.   

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