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901
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]SummerCoin|POS|10% per day in 5 days|New wallet
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on: May 15, 2014, 07:02:14 AM
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got to say that I think the dev has Disappeared.
Which is why we are currently looking for new DEV. I will try to do that as quick as it's possible. After having new dev we will probably open new topic, make a better, beautiful website and bring more miners to the multipool  So hold Your coins guys (I hold all my SUMs and never sold a single one), becouse good things are coming. I will make sure they'll come. There is no need to continue this coin. If you can find a new dedicated DEV, then create a new coin, without the deficiencies of the SUM. This coin was launched with correct difficulty adjustment first time. There was no instamine. That did not net the DEV or friends enough instant coins. It was launched again the next day using the excuse that mine pool was not ready. The difficulty adjustment algorithm was changed. There was big instamine. I sold my 2 blocks a few days after it was on market. |
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905
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][LGC] Logicoin | DGW | X11 | No Premine | Halves in 2 days!
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on: May 12, 2014, 04:31:28 PM
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Prices of LGC is about to drop because of the blackcoinpool!
most likely they will dump everything to pay out their users. damn....
They still have more than 23k LGC, and they're making up more than 70% of the LGC hashrate, so they'll dump again soonish. Best protection would probably be a new custom hashing algorithm, rather than halving: just throw in an extra stage of anything in the PoW hash, that'll be enough to not be vanilla X11, and enough to prevent inclusion in multipools. On the downside, it'll also require custom miners & stratum. That said, with more than 400k LGC on sale at poloniEx, there is quite some pressure anyway. The reason why multipool is with us is that we are the most profitable coin. The more hash rate we have, the more protection we have against 51% attack. The extra hash will also drive up the difficulty and make the dump at lower price less likely. That is a different way of looking at the effect of multipool. |
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907
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Now on Poloniex!
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on: May 12, 2014, 11:31:24 AM
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Just to summarise the suggestions:
"Screw the original idea of giving value to the citizens of Malta. We have loads of worthless coins and want you to make them more valuable."
Oh, and there is already a name for PoS with high interest values, it is called inflation, and people seem to hate it when it is applied to fiat currencies.
Inflation or money supply increase is good if it is kept low and people know beforehand. Money supply should be compatible with the economy growth. Inflation of the coin can also compensate the loss of coins. So I think 2-3% of the coin inflation per year is OK. This coin inflation is much lower than the fiat inflation. The main problem with PoS is that the rich will get richer. But this happens in real world with fiat. The government can use property tax to adjust that. |
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908
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][LGC] Logicoin | DGW | X11 | No Premine | Halves in 2 days!
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on: May 12, 2014, 10:57:11 AM
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I'm reasonably confident that I've identified the big "Unknown" as BlackCoin pool, and I've tagged them for extraction stats. I can't be 100% percent sure, as they don't give information in the clear, but let's say I'm 99% sure. Be aware they just made a move, and will likely soon dump almost 30k, if they haven't already by the time you read this. If you happen to spot where they dumped their stash (poloniex? cryptsy? etc.) let me know with a pm!) The following trading happened at Poloniex, Total traded 29850 coins. So I think the first dump finished. 12/05/2014 07:39 Sell 0.000042 9705.437166 0.40762836 12/05/2014 07:39 Sell 0.00004201 1609.28351 0.067606 12/05/2014 07:39 Sell 0.00004202 4214 0.17707228 12/05/2014 07:39 Sell 0.00004203 14321.27932 0.60192336 They moved out 29850 out of their wallet into an exchange. Date/Time 2014-05-12 06:49:29 Total Output 29,850.37501 LGC |
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909
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Now on Poloniex!
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on: May 12, 2014, 09:48:24 AM
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Ordinary people would think 16 MUM has lower value than 156 MUN even though the total number of currency in circulation is lower. So it is better to keep the total number 76M(?) same.
My suggestions:
1. if we decide to go PoS, the total number of MUN should be the same.
2. At the start of PoS, give interest to the mined (PoW) coins using the interest rate (double, triple or what ever) so that those PoW mined coins would be the same as the total intended mined coins (50.92M). So the proportion is the same 67% (100%-1%-32%) of total coins. This process would exclude the premined coins because they are already the right number of coins. At that time point, there will 76M MUN in total.
3. Same interest rate applied to all the 76M coins (premined+mined with PoW) after the start of PoS.
4. In the PoW period, we can still reduce the subsidy 1% per week.
With the above process, we can start PoS at any time, and keep a fair distribution of coins with PoW mining.
That seems like a really complicated plan for PoS implementation. It would be a lot simpler to just increase block rewards and get PoW done really quick and then just go to PoS. If we are to keep 76 million total I think that would be a more elegant solution. Just my two cents. If we just increase the block reward to keep the 76M total, then it is unfair to early PoW miners. That would devalue early miners' coins dramatically. Ya that's why I think it's better to have one last week or so of PoW and just go to PoS and adjust the premine accordingly. That would draw a lot of publicity but still reward early miners. As for the number seeming low value to people, they are going to look at the exchange rate anyway. I think we are babying people too much in that assumption and thinking they will be too dumb to figure it out. Plus using "bits" is better anyway than focusing too much on coin totals IMO. I'm confused what the plan you're suggesting is. Are you saying to keep the current PoW 1% decrease every two weeks? That would mean the total coins are reached in roughly 10 years. That seems to defeat the purpose of switching to PoS. I mean keeping the 1% decrease during the current PoW mining. When the PoS starts, it will stop. Your proposition is the same as mine if you adjust down the premine proportionally to achieve the 33% proportion. The difference is that my proposition is to adjust up the PoW mining to achieve 67% proportion. But my suggestion can keep the 76M coins. I admit my suggestion is more complicated as adjusting down the premine is much easier as it just involve a few addresses. Maybe we can have a vote about PoS etc. That would generate some publicity. PandaCoin (PND) has an active development team. It changed from PoW to PoS, the coin value increased 30 times. By the way, it has a PND multipool before the switch. So our development team has to do a lot of work. I wish the every success of MUN. I hope in the near future, I can use the MUN I mined and enjoy holiday in Malta. |
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910
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Now on Poloniex!
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on: May 12, 2014, 08:59:58 AM
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Ordinary people would think 16 MUM has lower value than 156 MUN even though the total number of currency in circulation is lower. So it is better to keep the total number 76M(?) same.
My suggestions:
1. if we decide to go PoS, the total number of MUN should be the same.
2. At the start of PoS, give interest to the mined (PoW) coins using the interest rate (double, triple or what ever) so that those PoW mined coins would be the same as the total intended mined coins (50.92M). So the proportion is the same 67% (100%-1%-32%) of total coins. This process would exclude the premined coins because they are already the right number of coins. At that time point, there will 76M MUN in total.
3. Same interest rate applied to all the 76M coins (premined+mined with PoW) after the start of PoS.
4. In the PoW period, we can still reduce the subsidy 1% per week.
With the above process, we can start PoS at any time, and keep a fair distribution of coins with PoW mining.
That seems like a really complicated plan for PoS implementation. It would be a lot simpler to just increase block rewards and get PoW done really quick and then just go to PoS. If we are to keep 76 million total I think that would be a more elegant solution. Just my two cents. If we just increase the block reward to keep the 76M total, then it is unfair to early PoW miners. That would devalue early miners' coins dramatically. |
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911
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Now on Poloniex!
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on: May 12, 2014, 08:08:09 AM
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Ordinary people would think 16 MUM has lower value than 156 MUN even though the total number of currency in circulation is lower. So it is better to keep the total number 76M(?) same.
My suggestions:
1. if we decide to go PoS, the total number of MUN should be the same.
2. At the start of PoS, give interest to the mined (PoW) coins using the interest rate (double, triple or what ever) so that those PoW mined coins would be the same as the total intended mined coins (50.92M). So the proportion is the same 67% (100%-1%-32%) of total coins. This process would exclude the premined coins because they are already the right number of coins. At that time point, there will 76M MUN in total.
3. Same interest rate applied to all the 76M coins (premined+mined with PoW) after the start of PoS.
4. In the PoW period, we can still reduce the subsidy 1% per week.
With the above process, we can start PoS at any time, and keep a fair distribution of coins with PoW mining.
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916
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][LIM]LimeCoin X11 Algo | DarkGravityWave2, 6 Exchanges, LIM/USD MARKET
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on: May 10, 2014, 08:55:02 PM
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And there are a few people who hold a huge chunk of the Bitcoins. Does that make it a scam too? So a few people with big hash power were quick to mine a chunk of them. So what? More power to them. And if it is a bubble waiting to pop then what is wrong with other people taking advantage of it while they can? The same could be said for Blackcoin, Darkcoin, Bitcoin Plus, etc., etc., etc. Those are all coins with a few people holding huge amounts and doing everything they can to manipulate the prices in order to make big profits. That is the name of the game, isn't it? No different than the stock market.
And thanks for the reply A-tM. <thumbs up> I wasn't getting any real response from gmcm.
In present times, if the developer wants the coin to be successful and distributed fairly among miners, then he should make sure the distribution is according to the plan. If the block time is 1 min, then it should take 10000 min to issue 10000 blocks. He can adjust the difficulty level to achieve that. If the coin is not issued according to the specification, ie, instamine, then it is a scam. I will avoid those coins. It is as simple as that. |
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918
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: Pandacoin (PND) - 12 days til POS [Multipool | NO PREMINE | NO IPO | Scrypt | KGW]
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on: May 09, 2014, 05:09:35 PM
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Hello, i am Alt-alarm, to alarm people from scam.
I did analysis on PND, and find it a big scam.
Recently POS was added, the POS PND is not 0% premine, instead, it is 95% premine before the announcement of the POS.
When you change it from POW to POS, you are making a new coin (see C2 and NC2, CAI and CAIX),
the POW PND is a copy paste of litecoin without premine (i do some homework, it is complicated because of the 3 Pandacoin), but the POS PND has a premine.
Premine is before the public are able to mine a coin, the coin can be mined by some people or group. Before the public can mine this POS PND (less than 2 billion coin left), a small group already premined almost 30 billion POW PND, before the annnouncement of the POS PND, this is why it has premine.
With such high premine, this PND is a scam comparable with the recent premine scam in Asiacoin.
As a conclusion, i suggest forum member do not touch this coin, after this pump, they will cash out, and the value will decrease fast. Some good POS coins with little premine or even no premine exist these days, i recomend to look at those coins.
I would call that fair distribution before the POS, not premine. |
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920
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: The Official X11 Thread (updated daily)
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on: May 09, 2014, 03:57:14 PM
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Guys,
I cant get more than 1.4Mhash from my R9 280X sapphire, what is wrong with it? I tested all the setting combinations but it cannot go beyond 1.4Mhash
I have the sapphire 7970 dual X which is similar to the R9 280X. I use: xIntensity 4, thread-currency = 8192, Gpu-threads = 2. Vcore = 0.94v V, core/memory = 840/1000MHz, the hash rate is 1.65 MH/s. I used the lower setting to have high energy efficiency as my electricity cost is high. |
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. And when people don't want to buy it even at this price , the exchange removes it for low trade volume.
