I say keep it simple.  Don't do the 10% distribution.  It will more then likely be tampered with to only help the big guys/shady people.  The small miner will be left with even less then if you hadn't touched anything at all.

No that's the estimated number from http://p2pool.nl/.  Right now it is showing Nibble is 1354 Blocks away from target.  And the ETA is showing at 30 Days, 11 hours.  Lol, that little bit I added seems to be helping you.

As for sticking with nibble after you get back on track.  Well that I will have to see yet.  Lol, I might be adding my 3rd (play around hashing) towards Nuggets.  Since I picked the name, and Vlad is going to need all the help he can get.  Lol, I am still pretty sure all that mining for him will be for a dead loss, but oh well.  

Don't know what I will do with the nibble's I get while helping you out.  All I can say is if I keep them, that nibble wallet is staying closed for a long while.  Lol, man this is the first wallet I have come across with the Litecoin upgrade message.  I can see now why people are annoyed.  If it annoyed you once, no prob.  But again and again and again   LMAO.

And the nugget I named the coin after was a mining term like a gold nugget.  Not sure why everyone automatically related it to Chicken nuggets, or now drugs  lol. 

Lol, I just noticed you asked if we wanted the coin to be a straight PoS coin.  Ummm NO.  lol.  Here I will explain it to you.

You will want a coin that has Proof of Work, which I explained to you the other day.  The security of the coin comes from hopefully not allowing an attacker to get 51% of the network power (or more).  Actually it can be down with less as well, but it's a lot more difficult to pull it off.  

PoS works on top of that.  And looks at the number of coin days a person has in their wallet, when it is taking the vote on which Blockchain is the correct one.  For instance say I have 100 nuggets sitting in my wallet, and they have sat there for 50 days.  I have 5000 coin days as part of my voting share.  If some guy wants to attack the coin, not only do they need to take over the 51% of the network power, they also need to take over the coin days.  So if they were attacking that day, and had no nuggets in their account.  They would need to buy 5050 Nuggets to have 51% of the Coindays as well, just to override my share.  This works better once there are hundreds of thousands of nuggets floating around in the network.  Say the total Nugget days for your network was 5 million.  The attacker would need to override the network hashrate as well as own/buy over 5 million nuggets  (or 1 million and let them sit for 5 days , ect).  Attacking PoS coins after they are semi established is economic suicide, as when an attacker kills your coin with just PoW, they have all their mining equipemt no matter what happens.  If they kill your coin with a PoS part to it, well they just flushed their 5 million coins down the drain along side everyone elses.  That's why it's a lot more secure to have both.

An added benefit.  Since PoS is mined as well, the coins that are sitting in your wallet not being used are actually gaining "interest".  But usually the PoS is only around 1% - 1.5% interest, so that shouldn't cause people to not want to spend any coins.  Just adds a small bonus for those that are sitting on their coindays securing the network.

Lol, going with my name huh.  Lol, I better get 2% of all coins mined  LMAO.  I developed the name of the coin.  Oh well, just don't disappoint me.

Since your not a programmer, and this coin really isn't going to have much security in forms of stopping a 51% attack, since I am pretty sure you wouldn't know about it until 10 days after when you were informed on here that your coin was destroyed.  So here are a bunch of features and removal of features that should help you out, since it sounds like a go.

BTW are you going with Shakezula?  If so your in good hands. 

Make sure the coin is a PoW/PoS coin.  Ask him to maybe use the bottlecaps code, but don't forget you need to make some changes.  And possibly have the interest from PoS stakes around 2% a year.  Get rid of the Developer 1% payout.  That will hurt you.  What you do instead.  While he is programming your coin, ask him to create you a pool as well.  This does 2 things.  Makes it easy to get people to jump onboard and mine for you.  Nothing worse then waiting for a pool to be created, and pools can get away with a 2% fee for their services.  So you are still bringing in revenue while not doing anything, but at least the public will accept it.  Next create a website, with it's own forum.  Very easy to do, you can even find ready made ones for free, and you pay a month fee of about $5-10 to get rid of the ads.  Create a Development Donation fund.  This will help you raise the additional funds for any things you may want to pay a programmer to add for your coin later.  And make a Nugget Fun Fund (Where people can donate for things like giveaways/raffles or for rewards for getting things developed.)  Last but not least, build a store.  They are fairly easy to purchase ready made ones for you.  Sell a few things like Steam codes, or gift card codes that you can pick up at a store near you (iTunes card ect).  Maybe even some small electronics or computer parts.  This will boost the value of your coin/economy a lot more then the 99%.  After that you can wait and see if more stores ect pick up your coins (Talk to the sextoy store, they always seem to be ready to accept new currency), and if cryptsy will pick you up.

After that, your not done.  But now you have to start e-mailing/speaking to businesses in hopes that a few will accept your currency.  (My best bet idea is to see if any Free to play games will pick your coin up as a means to buy stuff ingame.  They usually accept 15-20 different ways of payment.  What's one more? 

Lol, ok, I am going to help you occasionally get to that target.  Ouch according to the block explorer it's 1374 Blocks away, and ETA is 73 Days 5 Hrs.  This could take a while.  LOL.

Lol, I don't coin jump, but I do usually have 2-3 coins I mine.  LTC and Bottlecaps being the main 2.  I did play with Stablecoin a bit, but left when the developer went AWOL for the past few weeks.  And I also mined Digitalcoin until Baritus dared the hackers to take his coin down.  So am currently sitting at 2, which is fine with me. 

Only wanted to help you since I see you in a lot of the Battlecaps threads, and in the Wastelands we stick together  . 

I signed up for a pool that was listed on your announcement, but something seemed odd.  Says the Total Network hashrate is 800 khash, but that pool is showing a few MHash/s???  Is that a  dead pool, and the people mining there haven't realized it yet???


Anyways if that is the case (That the pools died and you only have 800 khash/s total network.)  How many blocks do you have to go yet before you retarget? 

What happened?  Did someone drive up the difficulty, and now your hash base is really low, and you are weeks away from a retarget?  If so, let me know.  I haven't mined nibble before, but I will throw you my hash power to help you get through it, it's not very much but hopefully any little bit helps

Sorry you misunderstood what I was going with there.  Vlad has self admitted he has no programming skills/experience what-so ever.  What he wants people to bank on is even though he would never even be able to tell if an attack was happening on his coin, that he wants us to bank on his skills as a really good marketer, and for him treating his coin as a commercial venture.

I didn't say building an entire economy on a Crypto is an overnight thing.  It would probably take years.  And I didn't say it was the best idea to rush that either.  But he seems more preoccupied on making a ton of money more than taking the time to even read enough to understand the basics.

But I will disagree with you somewhat.  Attention, care and time won't make a coin financially successful.  The only thing that will make a coin worth alot of money (truely) is to have alot of people using it as an actual traded currency, and for people to put money into it.  What you are talking about is speculated value, which is when the price rises because investors believe that eventually the coin will take off.  Pump and dump is when you push up the speculated value and then dump it when it's not actually "worth" anything.  It is not a pump and dump when you create a functioning economy, which raises the price, then you sell yourself out of it.  Here is an example of the difference.  I make a company, Tell everyone that I have a product that will put Intel out of business because my product is 1000X faster for 1/3 of the price.  The stock value in the company (That doesn't actually make anything yet) rises to astronomical amounts.  Then I sell my shares, make millions, and everyone is left holding shares to a company that doesn't actually make anything.  What I am telling him to do is essentially Buy a company worth $10,000.  Actually create the processors that put Intel out of business.  The company is now worth billions, because of actual sales, and products being released.  Then he sells his shares off.  He still leaves as a multimillionare, but the stock holders aren't left with a steaming dump, but with an actual money making company.  This is NOT pump and dump.

BTW which part of what I said doesn't apply to those that can't mine with a GPU?  CPU miners can infact also mine SHA256 or Scrypt.  It makes no difference.  Bitcoin was originally only able to be mined with CPU's.  What you might be thinking is CPU mining Bitcoins (Not SHA256), at the current difficulty level.  Which is a totally different ballgame.   If Vlad did release his coin as an SHA256 coin, the ASIC miners would not be interested in using their expensive new miners for mining a coin worth nothing.  So the difficulty would start low, just like if he released a Scrypt based coin.  The only way it would jump to super high levels would be if he himself started mining with his 60 GHash/s ASIC, when he finally receives it.  In which case he would probably end up pushing all the miners out, and the currency would have a single point of failure, and losing the interest of all the people he needs for the coin to take off.

The problem isn't based on people being afraid or not willing/ready to buy an ASIC.  I myself am in the process of purchasing an ASIC, I am just watching the BFL backorder log to dissipate.  And I'm not buying it to make money, as I know for a fact it will be losing money very shortly.  Just watch the Bitcoin difficulty jump by millions every week more ASIC's are slowly being shipped out.  Merged mining a coin that is worth $0.00001 won't make them turn into money making beasts, it's more "Woohoo I just earned an extra $1 this month merge mining Vlad's coin    

Our advice to you was based on what would be the safest alternative for a new coin coming onto the market.  SHA256 does not mean the coin will be worth more.  Not even having 1 million miners on your coin make it worth more (Just more secure).  And small GPU miners can mine SHA256 just as easily as they can mine scrypt.  It makes no difference to them what they mine.  Aside from the fact they will want to invest their time/electricity/cooling costs into a currency that they think is stable, and not be killed at any time.

The problem is you don't understand even the basics of what your getting into.  You believe your coin which will be worth less than a cent in the beginning will be embraced by Bitcoin miners, and that people will go out of their way to do all the programming to get your essentially free coin merge mined with all the big players.  And you believe your coin will easily survive a 51% attack on it, because you believe in it.  

First off, your coin will be worth nothing at all, no matter if you choose scrypt or SHA256.  The reason coins start becoming worth something is not because people start mining it.  It's because people start believing your coin is secure, and they start putting their money into it to make it worth something.  You also need to have services willing to take your coin as an actual currency.  No one is going to be sitting there with a 50 BTC buy offer the moment your coin hits Cryptsy (if it even manages to get there with your attitude of who cares if my coin is 51% attacked) when you are treating it like a playground.  You have said it multiple times in your many posts, it isn't costing you much, and your the only one that will end up losing your money and time if the coin is crushed.  That attitude will drive away any investor you're hoping to get, which will leave you sitting on a coin still worth $0.0001, which will stop being mined because people lose faith in your currency.

To put it in perspective, I will give you a real world analogy for what you're doing.   Its like you are building a new bank.  You don't have the money for insurance, you are asking people if you should build it in a safer neighbourhood, or in a neighbourhood where banks get robbed on a daily basis.  And to make matters worse, you announce you're not having any guards on staff and you can't afford the lock on the vault.  But you want people to store their millions in your bank, and if everything does get robbed and your bank gets burnt down, you don't care because the building only cost you $500 because of the neighbourhood you choose.  And to make matters worse, you want to charge the people that are storing their money 1%, because you are sticking out your time and $500 to build the bank in the first place.

A successfull 51% attack could cause everyone's assets "Money they put into your currency" to be cashed out by the attacker.  He makes a fortune, or nothing becuase he just wanted to see if he could destroy a smaller one to hone his skills on a larger target.  After a coin is 51% attacked, it is almost always dead after that.  I can only think of 1-2 exceptions where I believe the coin still exists.  In cases like Powercoin, which was 51% attacked recently, the attacker took around 2 million Powercoins.  No exchange would touch it after that, since the guy could cash in those coins at any time after.        

If you truly want to become rich in the Cryptocurrency game.  I will tell you the EASY way to do it.  DON'T become a coin developer.  Find an established coin that is trading for about $0.00001.  Put $10,000 into it, and start buying.  This alone will drive the price upwards.  Next put your "marketing skills" to work, and get an economy going in that coin.  You don't need a developer's ok to build an economy for them.  And I am sure they would readily do whatever they could to promote you in your venture.  Get that $0.0001 coin to have a value of about $1.  Congrats you're now a multi-millionaire.  Sell it off slowly, so you don't crash your market, and lose your value.

The reason and the only reason not to choose SHA256 is because of ASIC's yes.  But not the fear of them coming.

The reason is.  Right now ASIC's are worth a pretty penny, and Bitcoin is struggling.  Everyone is going to be focusing on getting their money's worth with their miner which means they won't be mining a coin worth a penny or 2.  So when you launch you will only be attracting GPU miners that are interested in the next new coin.  And it will be that case for quite some time until after you can generate some value into your coin.  During that time, you may be looking at having 10-20 Ghash/s of hashing away on your network.  It's not hard to see that anyone that has just received their 50 GHash/s BFL ASIC miner can easily 51% attack your coin.  Just to say they did it.  This is where the security risk is when launching a new coin based on SHA256.  If on the other hand you had your 10-20 MHash/s scrypt coin going.  It will take someone with a decent sized GPU farm to pull it off.  It would essentially be a guy with that $20,000 rig you liked the photo of his equipment.  There are a lot less guys like that then there are guys receiving their BFL shipment (Well that can still be debated  LOL ) And that is where the security in Scrypt lies for newly launched coins.  It takes fairly dedicated equipment to pull it off, and not a rogue guy having fun.

If your coin survives it's infancy, and someone actually decides to write to code to merge mine your coin along side Bitcoin (which would be a longshot), or you get a few ASIC's mining for you, then suddenly your security problems are no worse then they were if you were on a scrypt coin.  Here is a promise though.  The Scrypt coins will always be around, and GPU miners will always exist.  Heck a few of the new coins are going back to the basics and only allowing CPU processing.  The purpose of Hashing in the first place is to spread the power over as many people as possible.  Video cards will always have a purpose outside mining, and Scrypt based coins like Litecoin won't be flipping over to SHA256.

Here's some advice for you Vlad.  Since your semi broke, and don't seem to have the basics down yet.

You aren't the developer.  Satoshi is/was the developer.  If you make an alt coin you are doing so because Satoshi gave the code out for free to anyone that wanted to make a few changes to it (Hense why it isn't costing you $500,000 to launch an alt coin).  Everything here is open source.   You are surrounded here by programmers and people who want to change the world.  Most aren't doing it for the money.  Keeping your ideas to yourself, and paying a programmer upwards of $10,000 for each groundbreaking change isn't going to net you anything, since all the code you paid $10,000 for is free for everyone that wants to use it right after you put it out there.  If you do have groundbreaking ideas, it is probably best for a person with no programming skills and not a lot of money to release them to the public now.  Someone may write the code for you for free, or when you finally get ahold of someone to make a coin for you, you can get them to copy that part of the code for your coin as well.

You keep claiming you want to make a coin for the miners.  But 99% of the alt coins being released are made for the miners, as 100% of the coins minted  are released to the miners.  In your coin you are always trying to have the miners pay you a "tax" for being the one to "develop" the Miners coin.

Before you think ASIC's are the way of the future, and that when Bitcoin becomes popular everyone and their dog will have a Miner.  That couldn't be further from the truth.  Only the tech nerd types will be wanting to continue mining.  As more people get into mining with ASIC's the less and less money they make with them.  Only a certain amount of coins gets released, and that number halves every so often.  I really hope the future doesn't involve 2 billion people fighting with 5 Thash/s machines for 5 Bitcoins.  Lol, it's not hard to see even at 300W, everyone will be losing money with that one.  The way you make money is to buy into the product, not the mining aspect of it.  Not sure if you realize it, but even a 50 G Hash/s ASIC miner, if the difficulty went to only 2 billion would only make $0.03 a day after power at $0.14/KWh.  And 2 billion difficulty will happen if probably less than 50,000 people all bought a 50 GHash miner.  Even if everyone was mining on 50 T hash/s machines, the amount of coins distributed to all the people mining would still be the exact same payout as if everyone went back to CPU's and mined at 5 khash/s

And yes ASIC's can mine any sha256 based currency.  What they can't do is mine Scrypt.  And the programming behind scrypt was designed to make it quite expensive of an endeavor to create a scrypt ASIC miner.  Not to say that day won't happen.  But if Bitcoin needed to go above say $50 before it became profitable to start creating it, Litecoin would probably have to be sitting near $250 before someone figured it was time to pour a few million into developing a Scrypt based ASIC miner.  

But again.  It's your coin.  Don't rely on polls to tell you what coin you should have copied, since I can see you have your heart set on SHA256 no matter what the polls say.  You have to many other things going against you that really I don't think this aspect will be what sinks you.

No they can't.  LOL.  The AS part of the name "Application specific " says it all. 

I hate to break it to you Vlad, but in a world of ASIC miners (Future-proofing you claim) at a time when you can purchase a 50 G Hash/s ASIC miner for $300, the difficulty will be so high on every decent SHA256 based coin, that you will still be looking at making pennies a day.  Meanwhile the guys sitting on their 500 T hash farms will continue to pile in the profits from mining.  The algorithm you choose isn't going to change this.

The reason scrypt is better for a start me up alt coin is the fact that it is far more secure, especially when most big miners will be in the big coins, and not in your little alt coin.  You will be bound to attract smaller GPU based miners first until you can prove the coin to be worth something.  During that time, anyone that wants to watch your coin crumble will be able to do it with relative ease with a handful of ASIC's at their disposal.  Or possibly even 1.  

For you, sure you think "who cares, I didn't but any money into it" but in order to even get the coin off the ground, people (miners) need to put their money (electricity and time) into mining you coin.  Then people have to put money into your coin to give it worth.  If you as a developer only see the coin as your personal playground, and who cares if I cause everyone to loose their money ect from it, you shouldn't be developing a coin to begin with.  

    

You can get a decent Gigabyte 7850 for $189. 

You should be able to push approx.  800 kHash from the 2 mining a scrypt coin using commands like this:


setx GPU_MAX_ALLOC_PERCENT 100
cgminer.exe --scrypt -o poolIP:port -u Username -p password --no-submit-stale --gpu-engine 1150,1150 --gpu-memclock 1250,1250 --thread-concurrency 10048,10048 --intensity 17,17 --worksize 256,256 -g 1 -g 1



Using the Burnside LTC calculator:

800 KHash/s with current difficulty, assuming 400W for your Video cards and a LTC price of $2.75, you should make $2.53 a day, with $1.34 of that going for electricity assuming $0.14/kw/h

Put that vs BTC right now

I will give you 800 MHash/s from the 2 cards.  Assuming 400W and a BTC price of $82.36 (Current Price)  You should make $1.27 a day mining BTC, with $1.34 going for electricity which will give you a grand total of losing 8 cents a day mining. 

Doesn't take an economist to see which one people mining with GPU's will turn towards.

You should really add to the poll that the poll is what would be the best encryption for a new alt coin.  And not what is the best in existence.  Since your on a Bitcoin forum.  Things are going to be a bit biased towards SHA256 if they think in any way the question is related to Bitcoin vs Litecoin.

ASIC's aren't the best way to go since it basically centralizes the power in the hands of the big players, and flushes the little guys out.  This actually makes your coin less secure.  Even if eventually 5 Ghash/s ASIC's are available to miners for $300 in the future, you can bet that there will be 1 Thash/s miners available at that time for the big guys.

And just so you know.  An sha256 ASIC miner can't mine a scrypt based coin.  It can't do anything else either.  It either hashes sha256, or it does nothing.

First of all, if you paid $1700 for 2 - 7850's then you got taken right there.  After that, to mine scrypt, you need to tweak the .bat files a bit so you can get the most out of your miners.  From your other posts here, I am doubting you had your batch file set up correctly.

A small miner is not going to have an ASIC sitting in their house.  They will be mining with GPU's.  SHA256 is a dead place for GPU's now.  And after the difficulty jump today for BTC, it's way worse.  Merge mining with obsolete equipment still = a dead loss for money made.  The reason Scrypt was put in Cryptocurrency in the first place was to keep the game for the small miners alive.  

And I doubt you will figure out a way to make it easy for the little guys.  Whatever you try to do, there will be 1000 ways to get around it.  Don't worry about spending the entire programming cost on trying to make it a coin for small miners.  Your only going to make the big miners that much richer.

But it's your coin.  Do what your ideas tell you to do.


Edit:  Just read the rest of the posts.  Keep it simple.  And get to know your audiences ect before you start getting other ideas in your head.  If a coin (even Bitcoin) takes off, the masses aren't going to buy miners, and start learning how to properly set up batch files to get the most out of their equipment.  They are going to purchase the currency, and run with it.  If you can make 50% a year or whatever the rate will be, why would you bother coming down to the miners (ie geek level).  The difficulty level is going to be so high the best bet would always be to buy it straight out.  Not sure of your aware of this, but as time goes on, the mining rewards actually drop, so having 2 billion people buying $3000 machines to fight for 1 bitcoin isn't going to happen.

Also if you want a coin that is "For the miners", then you have what a large % of the coins out there do.  Give 100% to the miners.  And no pre-mine.   By taking a % for yourself, and then thinking about voting in 4 anonymous people to hand out the other 24% is the exact opposite of making the coin for the miners.

BTW.  Everything here is open source.  Meaning everything you think of can be copied by anyone else (IE how you will get your coin for virtually nothing).  You can share all of your ideas.  Don't think your getting anywhere hiding them, or hanging on to them for your coin.  Just share all your ideas and we will let you know the good from the bad.

Lol, developers don't do sneak launches because they are worried about a 51% attack.  And they don't use Scrypt to stop the democratic process?  WTH.  It's scary when a "Developer" doesn't even have the basics down.

Anyways to explain the 51% attack to the other guy who asked, in newbie speak, since I am a newbie as well, and not someone that could actually pull off an attack.  With a PoW (Proof of Work) currency, Your network is running on a democratic system, where if someone tries to attack the coin (By changing the Blockchain allowing them to double spend coins ect), the network looks at the 2 different Blockchains, and awards the chain with the majority of the Work being completed on it as the correct one, and all the other computers in the network will then adopt that Blockchain as the real one.

SHA256d, Scrypt, SHA3, Finding prime numbers.  All that doesn't really matter to the "Security" of the Blockchain.  The Blockchain isn't actually super-encrypted, it is open for everyone to view it at will.  What all the computers on the network (mining) for your coin are doing is proving they are completing work, as a way to give themselves a small % of the total amount of voting shares for which chain is the correct one.

When a network has a small amount of miners, (you can see many with around 1 Mhash/s), all it would take is for 1 person with 1.1 MHash/s to start mining, and by all rights, they can start selling their coins (get the money), put them back in their wallet, spend them again, and again and again.  Once this happens, the coin is pretty much worthless, and it falls to obscurity.  With a larger coin with say 200 MHash/s on the network.  They would need the processing power to put another 204 MHash/s on the network to attack it.  But what they will usually do is look for weaknesses like a certain pool has 50% of the hashing power, or 2-3 large pools, and DDOS attack the pools effectively shutting them down for a period of time.  During that time the network may be floating around the 40-50 MHash/s rate, thus it would be possible for them to attack the coin if they had the hashing power.

This is where some people believe Scrypt networks are more secure, as the price of creating a GPU farm with 50 MHash/s is more expensive than buying a few ASIC miners and having alot of power to throw around.  As more ASIC's are being shipped out to people all over the network, this problem will dissipate.  Not saying anyone could easily afford to take down Bitcoin.  But if you had your new coin launched, on SHA256 and the network was being mined at even 100 G Hash/s, it really wouldn't take much at all to find someone that has the power to knock your coin out.

What a PoS / PoW currency does (Like PPCoin, NovaCoin, Bottlecaps) does is not only does it look to see if the attacker has 51% of all the work being completed on the network.  It also checks to see if the attacker owns 51% of all the coin days on the network.  This vastly makes it more expensive to attack, and would be financial suicide, as they would never be able to sell off all the coins they owned in the currency during the attack.  So they would effectively lose money attacking it.  With a strict PoW system, if they destroy it, they still have all their original equipment, and can go destroy the next coin they feel like, or go back to mining their favorites again.

The greatest thing about a PoS currency, is after the PoW is at the end of it's lifecycle, the network can be switched over to a total PoS security.  The amount of electricity being consumed to keep the network secure drops to almost nothing, as all it is looking for is 51% ownership of all the coindays on the network to provide the security

Lol, you're right, I think it comes from the 2 major currencies being called Coins, so it just feels proper to call the currency a coin.  Lol, my main Alt after LTC is Bottlecaps, which has no mention of coin involved, and it feels natural, so I agree maybe dropping the coin name will help make it feel more original then following the norm and adding Coin to the end.

Maybe the name could simply be "Dynamite" or maybe "Nuggets"