Man this coin is hard to mine. supernova hasn't found a block for over an hour!
yeah i know. but we posted that from the very beginning. that root wass going to be hard to mine. And tbh, we re settling the diff at a lower area at the moment. ROOT will be harder to mine towards the end of this or next week. we even had discussions inside the community regarding an adjustment of the block-subsidy. So those are all just precaustions to secure the ROOT-market and to satisfy the investors. but with bitkey beta beeing released towards end of this/next week i am sure it s worth every hash. cheers, bitsta |
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Still no payout from Official Pool for 16 hours of mining from launch. i guess its a lost.
I have the same problem. Bitsta did mention he will post the share logs from the pool and compensate anyone who didn't receive a payout. yeah i ll go through the database again. But please check your miner-logs. Couple of users got banned because of stale shares or disconnected due to "too low diff". Both known issues with rental rigs. I ll provide a compensation anyway. Just want to point out that all listed miners (workers stats) on the official pool are getting their payouts. |
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Should be good, based on the current difficulty and the minimum price of hash at nicehash, I'd say root is pretty under-priced a c-cex atm, I don't think I can mine it for as little as it's being sold, of course that leaves an interesting conundrum because is it under-priced vs the expected market cap, if not then obviously it is being hugely over-mined. But when you only have pure PoW for the first 10 days, and a coin that's only mineable at all for 24 days, people are going to want to throw a lot of hash at it early. Maybe you designed the difficulty retargeting to be a little too aggressive? With such a small window this coin may well never even make it on to the multipools, especially without being supported by a major exchange, or having a large volume market so they can exchange for btc. I know you were worried about people just mining the crap out of it and dumping it all thus crashing the value, but you might have over compensated just a little, and are kinda killing the people who want to support the coin but didn't buy into the IPO. (Which can you blame me, I like literally a week ago spent pretty much all the disposable money I had on a Scrypt ASIC).
Yeah if have to agree, the difficulty is a bit too aggressive. Mining nearly 3 days straight and I only have 2000 coins.. It's ok, at least the miners won't crash the price, but you won't get great distribution. If at all possible of suggest extending the POW phase by a week or two just to allow it some more time to spread and distribute amongst a wider audience. EDIT: make that 1700 coins. Difficulty is over 500 right now. Also if the genesis block contained the premine coins, then what about the other 500 blocks that were mined before the wallet was released? I got the wallet within minutes from IRC and had it downloaded and synced straight away and it was already on block 500... check the blockchain. the 500 blocks were mined AFTER the wallet release. I (and the rest of the team) was mining at the official pool from the begining. Really?? So 500 block were mined within 5-10 minutes? I was one of the first workers on the official pool, and I also solo mined it for about 10 minutes and all of that happened after block 500 was already reached by the first time I synced the wallet. yes. and +100 blocks from those 500 were mined at the official pool. |
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Should be good, based on the current difficulty and the minimum price of hash at nicehash, I'd say root is pretty under-priced a c-cex atm, I don't think I can mine it for as little as it's being sold, of course that leaves an interesting conundrum because is it under-priced vs the expected market cap, if not then obviously it is being hugely over-mined. But when you only have pure PoW for the first 10 days, and a coin that's only mineable at all for 24 days, people are going to want to throw a lot of hash at it early. Maybe you designed the difficulty retargeting to be a little too aggressive? With such a small window this coin may well never even make it on to the multipools, especially without being supported by a major exchange, or having a large volume market so they can exchange for btc. I know you were worried about people just mining the crap out of it and dumping it all thus crashing the value, but you might have over compensated just a little, and are kinda killing the people who want to support the coin but didn't buy into the IPO. (Which can you blame me, I like literally a week ago spent pretty much all the disposable money I had on a Scrypt ASIC).
Yeah if have to agree, the difficulty is a bit too aggressive. Mining nearly 3 days straight and I only have 2000 coins.. It's ok, at least the miners won't crash the price, but you won't get great distribution. If at all possible of suggest extending the POW phase by a week or two just to allow it some more time to spread and distribute amongst a wider audience. EDIT: make that 1700 coins. Difficulty is over 500 right now. Also if the genesis block contained the premine coins, then what about the other 500 blocks that were mined before the wallet was released? I got the wallet within minutes from IRC and had it downloaded and synced straight away and it was already on block 500... check the blockchain. the 500 blocks were mined AFTER the wallet release. I (and the rest of the team) was mining at the official pool from the begining. |
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I see Bittrex listed on the OP but don't see ROOT on Bittrex?
i just prepared the button. shouldn't take too long untill they add us. |
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Oh and RE the rootEX buy in, first (is English not your native language Bitsta? I know in some other Europeans languages commas are used as decimal separators) It would really be helpful / less confusing if you used commas as you thousand separators e.g. " And 33% of the rootEX-shares will be claimable(swap) by ROOTcoin-holders valueing 3.000.000 ROOT with 33% of the rootEXchange." I assume this means 3 million root, and really ought to be written as 3,000,000 otherwise it gets confusing because root like any other BTC derived crypto is divisible to 8 decimal places i.e. you can have 0.00000001 root so 3.000.000 could mean 3 root (albeit you wouldn't use a second decimal place). I'm possibly interested in investing although I'm not exactly flush, it wouldn't likely be for any more than 0.5btc, maybe even just the minimum of 0.1, I'm just curious though (even if very few of us actually have enough root at this point) why only buy in with btc? why can't we buy in with root? doesn't this kinda show a lack of faith in the value of your own coin? Oh and can you clear up for me rootEx is going to be an exchange for any/all cryptos right ala bittrex, cryptsy, c-cex etc? People could use it to trade ltc/btc for instance right? Your illustration only shows currency pairs with root. And what exactly are the USPs of rootEX for the end user looking to trade their cryptos (apologies if I missed all this being discussed in the IRC) why trade on rootEX rather than bittrex or cryptsy? Does it somehow combine into the privacy / anonymity protocols built into root? I'm sure the market is young enough at the moment that just another exchange can come along and do reasonably well even against other names that because they've been established have some inherent trust, but offering something new or unique or better is obviously better and makes for a more appealing investment opportunity. Why should I believe that rootEX is going to be incredibly popular and will pay its shareholders massive dividends and be a fantastic investment that you'd have to be an idiot not to buy into right now and for as much as you can? Explain it to me as if I'm not the marketing and investment genius that clearly I'm not  Thanks. hey geekeh, i ll adapt the syntax of the OP. as for rootEX, there will be an own rootEX/ROOT trading-pair at the exchange. And the fact that i am valuing 33% of the exchange with ROOTCOIN is clear enough that i am fully confident with rootcoin and having more than just faith in it.. and yes, rootex is going to be a new exchange like bittrex & Co. tough will have a couple of innovations. I am working on a whitepaper for rootEX. That will clear your questions. and please come join IRC and i d be happy to explain you everything, also the innovations in rootEX. thanks for the interest! cheers bitsta |
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dev,sent
Status: 0/unconfirmed, broadcast through 4 node(s)
Date: 2014/8/24 06:21
To: RNr9PLdSC2Zz1SPZgPCgL6Thpecqbi5sPZ
Debit: -5588.267 ROOT
Transaction fee: -0.10 ROOT
Net amount: -5588.367 ROOT
Transaction ID: 97bba59e649e78b52fb349ce1840bea6a7dad0e3aeeaabf4eb11ad135abaac8f
my btc address:125FdBHvv3kWxLBq1zUYCLYajEgh69vU51
thanks.
thanks! i received them. i ll send you the BTC as soon as i am at home. 7.8k sat per ROOT like we agreed. thats 0.4358 BTC. cheers, bitsta dev，would you like to pay me the 0.4358btc? still waiting for that. thanks. yes sure. sorry, i totally forgot about it. is this correct??: 125FdBHvv3kWxLBq1zUYCLYajEgh69vU51 almost one day past after i sent the dev 5588 rootcoin. still has no received my btc from the dev. i have sold him at the price 7800 sato. could i believed that he will return my btc?? guys, i am totally disappointed!! dev,you hurt my trust. do you always hurt our trust?? lol. i sent you that message about 60 - 90 min ago.. why you spreading bullshit? anyway. no worries daxiake. you ll get your BTC. i am buying back a big load of coins. you re not the only one. |
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So you didn't take 100,000 coins for yourself?
of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr. regards bitsta Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand. yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT. doesn't affect anything except that the PoW is a lil smaller & highers the value. Ok then I understand now. You should adjust your OP to reflect the true # of coins then. It should read 3.1 million total coin not 3 million right? I believe it is still 3 million coins. The premine is 53% which had to be adjusted for that extra 100k due to investors. 1.6mil/3mil = 53% This is my understanding. Please correct me if I'm wrong. Regards, LC yeah correct. it s exactly 53.3%. |
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So you didn't take 100,000 coins for yourself?
of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr. regards bitsta Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand. yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT. doesn't affect anything except that the PoW is a lil smaller & highers the value. Ok then I understand now. You should adjust your OP to reflect the true # of coins then. It should read 3.1 million total coin not 3 million right? the total cap is still 3 million. But the PoI is 1.6 instead of 1.5. Thanks for hint. I ll change it to 1.6. |
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So you didn't take 100,000 coins for yourself?
of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr. regards bitsta Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand. yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT to not run out of coins during the PoI-distribution. doesn't affect anything except that the PoW is a lil smaller & ensures a higher value. |
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Not to harp on or anything but I do still think I'm owed at least 200ish root from the official pool, it's a little annoying that it doesn't have any of the statistics found on most other pools that would allow me to prove it, I assume it's logged on the back-end but I can't see the number of valid shares contributed by a specific user over X period of time, or per round and what the difficult / reward was for that round, and what my sharerate was etc. Digging through my miner logs I can probably find out how many valid shares I contributed for the entire mining session, and possibly some smart person could plot that on a graph against a steadily rising difficulty from around 10(ish) when I started to around 200 when I stopped mining on the pool. and work out a reasonable estimate of what I should have been paid. Because I did get some payments, but only for the first 2 hours of mining. And it still seems like a heck of a lot of people haven't received anything, it seems like some sort of problem occurred shortly after 03:30 UTC.
same for you geekeh. no worries. i ll provide a compensation. |
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So you didn't take 100,000 coins for yourself?
of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr. regards bitsta |
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Not to harp on or anything but I do still think I'm owed at least 200ish root from the official pool, it's a little annoying that it doesn't have any of the statistics found on most other pools that would allow me to prove it, I assume it's logged on the back-end but I can't see the number of valid shares contributed by a specific user over X period of time, or per round and what the difficult / reward was for that round, and what my sharerate was etc. Digging through my miner logs I can probably find out how many valid shares I contributed for the entire mining session, and possibly some smart person could plot that on a graph against a steadily rising difficulty from around 10(ish) when I started to around 200 when I stopped mining on the pool. and work out a reasonable estimate of what I should have been paid. Because I did get some payments, but only for the first 2 hours of mining. And it still seems like a heck of a lot of people haven't received anything, it seems like some sort of problem occurred shortly after 03:30 UTC.
Word... I believe I am owed 200 or so as well. No answer from dev  we ll provide a compensation anyway. thats sure. But we want to check what happened exactly cause we re getting payouts and so are doing a lot of others. cheers, bitsta |
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Specifications:
algorithm: scrypt (community voting)
blockreward: 99 ROOT
total coins: 3 million coins
blocktime: 5 minutes
PoS reward: 3%
rpcport: 27377
p2pport:28388
qrcode support
Due to high demand and multiple requests we decided to launch a
2nd Proof of Investment stage with 100 packages.
The final specification is: 50% PoI, 30% PoW and 20% PoS
So the premine should be 1,500,000 coins right? Block 1 had 1,600,000 coins. I guess the dev wanted 100,000 extra for his services. So he gets 111 btc to fund his project yet he takes another 100,000 coins to pay himself? Ok cool I guess if he can sell those 100,000 coins for 15k each he will make 15 more btc. 3.22% premine used just to pay himself? Seems high to me.
no thats not right. the premine is ONLY for the PoI stages. I ll release a abe-explorer. So it will be public. Once all investors are paid we ll release a list with how much went to who for what price. regards bitsta |
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if theres no incentive to mine
the network will not be supported
the share exchange is a few weeks away
without a stable network you dont have a stable platform
the network is rock-stable. we have a good hashdistribution and couple of solominers. Also are we linking all our own gear on root. Each rig soloing. |
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hey guys. i am going to delete all posts with tx-ids in them.
i just checked the thread and seems like some user haven't
deleted their tx-id postings in the first couple pages.
the thread might shrink by 1-2 pages.
You are doing right things because mods could delete the posts if they found some tx-ids in the posts thanks for the understanding. also want to point out that tx-ids in posts are AGAINST the BCT forum-rules. |
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hey guys. i am going to delete all posts with tx-ids in them.
i just checked the thread and seems like some user haven't
deleted their tx-id postings in the first couple pages.
the thread might shrink by 1-2 pages.
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A Richlist would be awesome
we re on it. |
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some users wanted to trade ROOT on an exchange. and lot of new investors want to join. so i think it s what the community (or at least a majority of the community) wants. We ll be on bittrex shortly. |
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Is nobody else concerned about some of the strange problems so far with this coin?
The "official" pool is just an IP address.. and it seems nobody (or very few people) have received payouts from it so far. What's going on with that?
There's a few things that just seem a little "off" so far. Hope everything can be sorted out quickly.
hey MineP.it. any issues with your pool? the official pool is just an IP-address because we haven't set up a subdomain on rootcoin.co. why is that strange? We could easily add a subdomain with A-record to our server. would end up in the same. As for the official pool. As long as somebody has mined & gotten successfull shares, there is no issue and payouts are working. Please join IRC, we have a lot of users, also still mining there and getting payouts. I had an issue with couple of rentals. they started mining at the preset diff of 64. but after some time (due to too many stale shares, the worker got banned). and in another case we tested a 0.5GH/s rig on the official pool and it disconnected due to "too low diff". So the issue is not in the coin itself. like already posted before: feel free to check the sourcecodes if you re concerned. Hey No our pool is running well - doesn't seem to be any issues with the coin itself. I just keep repeatedly seeing messages in this thread about people not receiving their coins from the official pool. I'm a paranoid guy with all the scams that have been coming out recently and I'm trying to find where there could possibly be one on this coin (just for my own peace of mind!) - not trying to spread FUD or anything. The only thing that seems like a potential candidate so far is coins being mined at the official pool, not being paid out, and potentially being dumped. But - if you're saying that everyone is receiving their coins OK then cool.. we can relax  yeah no worries on that. i ve released a blockexplorer and we re setting up another one with richlist. just to provide as much as transparency as possible. as for your paranoia. keep that characeristic. it might safe your a** someday. lol no seriously. some kind of sceptical paranoia is very important nowadays. As for the users who didn't get a payout. The dev-team is going to provide a compensation to those. i ve been buying back ROOTs yesterday. just for this case. I am also going to publish the redis-database of the official pool. Including the public-addrs for the mined-blocks. Just for the transparency. if i can help somehow, just let me know. i am here to serve the users as well as important infrastructure providers like you nd the other pool-owners. Thanks for the support! cheers, bitsta |
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