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Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN] [BLOC] BLOC.MONEY - Exclusive, Fast, Anonymous, Egalitarian, Anti ASIC
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on: November 18, 2018, 11:39:28 AM
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Very interested, seems like it went under the radar, but the app, dashboard and general features are there. Looking to learn more about the egalitarian pow, sounds awesome  |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]
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on: November 11, 2018, 03:56:21 PM
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Do you have own cold wallet already? Users can only mining coins or there are will be some rewards for inviting friends to this project? And what about airdrop?
There's no cold wallet in the plans as far as I know. Users can get what Merit calls "growth rewards", or "growth mining", as in additional drops of MRT that vary in quantity and frequency: you get them by growing the network and holding merit in your account, curently 3/4 of each block (so 15 MRT) is distributed to the network trough PoG rewards so they are pretty generous. Of course the more (active) people you invite and the more merit you hold, the greater your rewards. I think this answers your last question too: no airdrops, as they are kinda part of the system too, but rewarding real action instead of spamming one. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]
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on: November 02, 2018, 09:48:10 AM
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I have joined the Merit network since the idea is in itself quite mind boggling. The mission of achieving a more effective decentralization than most of the other coins out there through a system of invitations is great.
However after having joined the network I'm having a few doubts. First I had to beg for a few invitations which I could use to convalidate the invitations I would make for my friends. Then, once I've finally managed to invite two friends whom I could validate, now I am unable to supply them with invitations that THEY can use if the want to invite anyone. In other words, the growth of the network in my direction is stuck and so it will probably stay, since we won't spend our time begging for more invitations because we are not beggars, and if it has happened to me and my friends that would probably apply to most of newcomers. Of course, beggars will possibly succeed in getting more invitations, in which case the system is likely to select a population of beggars, not the kind of community I'd like to be part of.
This means that once again early adopters got too much advantage over later adopters, which is the same paradigm of Bitcoin and the other coins - in other words the mission of a better decentralization will probably not be achieved by Merit either.
If I'm wrong I'd like to hear why. If there is no smooth way to allow me and others to perform the "Proof of Growth" without having to beg, then such growth simply won't happen.
Great points! And you are right about the current difficulty's of merit invites. Have you seen this overview video? https://youtu.be/KrPVbkJ1IZoI don't think you need to beg to get free invites. Did you ask the person who invited you? Or did you ask on discord? Many of us hand out invites to those who need it for free! When it comes to getting them on your own, the best place for a casual miner would be to pool mine in the parachute pool. Invites are not distributed by hash power. If you're a serious miner you shouldn't have any issues getting invites from any pool. I hope that helps explain a few other ways. Invites shouldn't be too easy to get though! Weeks have passed and "without begging" for merits I'm stuck, which raises in me some major questions about the functionality of this system. Yes, true, I've got 3 invites from the person who has first invited me and I've used them to invite friends, to whom of course I'm now unable to give any invites to help them grow the network since I have none any more. So that's a dead end, since we're not miners. My friends already forgot about this project and soon will I too. I mean, I can understand your point, but invites are given out both by mean of PoW (mining) and PoS (as growth rewards themselves), which are the two metrics in the chain to determine who is actively contributing. As Kamo said, you don't even have to be a big miner, Parachute pool distributes invites not based on hash power (for reference, more than 5 invites were given to each miner last month), just need a CPU and dedicate some of its time to the mining. Or you can trade and stake, as is for other coins, this way invites are much less frequent but still there, and you can pay for them if you don't want to beg anyone. If invites were equally distributed around it'd be too much incentive for people to create fake wallets and centralize the invites on themselves, that is not in doubt just look at every referral system ever. So, while balance could be discussed, I don't think this chain is unfair to newbies, nor that the mechanism is based on the wrong criteria. It's still a PoW chain, along the way you can increase your earnings by increasing your community, but the usual work to optimize the process is yours to be done (as above, chosing the best pool for yourself to get more invites). I'm not saying the system is good or can keep going on long term, nor denying your point of view, just that this is "just like bitcoin" because it wants to be, but making it more rewarding for those who dedicate to it more than the average. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]
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on: September 16, 2018, 03:06:47 PM
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I was hoping that after posting the announcement on this forum, the number and volume of transactions on this coin will increase, but most likely the stagnation will continue until there is a listing on a well-known exchange. A good exchange is a good coin!
While I think everyone agrees an exchange listing would help the exposure ... Merit is unique in that it's invite only. Large scale exchanges like Binance would require 100,000 + invites on day 1 for withdrawal/deposits and I don't know if the new community/coin is ready for that overnight ! Mmh for withdrawals sure, but to just exchange is probably wouldn't, after all addresses used by exchanges are virtual, they don't have 1:1 real addresses per user. It certainly would require some help from the team tho, but if Merit wants to go anywhere I'm sure they have planned that phase of growth. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]
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on: September 15, 2018, 03:41:50 PM
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miner@simpleminer:~/merit-miner$ sudo make
make all-recursive
make[1]: Entering directory '/home/miner/merit-miner'
Making all in compat
make[2]: Entering directory '/home/miner/merit-miner/compat'
make[3]: Entering directory '/home/miner/merit-miner/compat'
make[3]: Nothing to be done for 'all-am'.
make[3]: Leaving directory '/home/miner/merit-miner/compat'
make[2]: Leaving directory '/home/miner/merit-miner/compat'
Making all in cuckoo
make[2]: Entering directory '/home/miner/merit-miner/cuckoo'
depbase=`echo cuckoo.o | sed 's|[^/]*$|.deps/&|;s|\.o$||'`;\
g++ -std=c++11 -DHAVE_CONFIG_H -I. -I.. -Wall -O3 -g -O2 -march=native -MT cuckoo.o -MD -MP -MF $depbase.Tpo -c -o cuckoo.o cuckoo.cpp &&\
mv -f $depbase.Tpo $depbase.Po
In file included from cuckoo.hpp:16:0,
from cuckoo.cpp:13:
ctpl/ctpl.h:32:36: fatal error: boost/lockfree/queue.hpp: No such file or directory
compilation terminated.
Makefile:387: recipe for target 'cuckoo.o' failed
make[2]: *** [cuckoo.o] Error 1
make[2]: Leaving directory '/home/miner/merit-miner/cuckoo'
Makefile:796: recipe for target 'all-recursive' failed
make[1]: *** [all-recursive] Error 1
make[1]: Leaving directory '/home/miner/merit-miner'
Makefile:428: recipe for target 'all' failed
make: *** [all] Error 2
If you have a problem compiling the miner from source I'd suggest to join the Merit Discord server and ask for help here (#issue or #mining channels). Discord: https://discord.gg/m6Hsyh |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]
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on: September 09, 2018, 04:28:46 PM
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I think that a crypto team needs a minimum of $10m these days to be competitive.
So many ICOs are raising huge amounts of money. Because of this, everyone needs more money in order to compete.
Otherwise, you will be relatively under-funded.
So, I really like that this team has not done an ICO. But I think they need a really large amount of capital to compete. So, I am curious how they will handle this?
Initial founding was done by the CEO, Adil, himself. Merit has a 20% premine (for transparency, don't think it's locked by the chain), so 20m, which the team aims to use carefully and gradually to fund operations according to their whitepaper. The Merit market also implements a 0.75% fee on every transaction, to be used for development of the market itself. Think that's all for self funding of the project. |
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Economy / Economics / Re: How much more fall is possible ?
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on: September 09, 2018, 05:48:49 AM
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I'd say that under 3k is extremely improbable for anything other than a fakeout, that's where most of the bullshit sheningans started showing and where true long term demand should sit. Under 6k seems inevitable at this point just looking at the inverse BTCUSD chart...which tells me nothing, since manipulation loves to make things seem obvious and then do the opposite. Don't see any reasonable level in between these two.
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]
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on: September 08, 2018, 05:20:46 AM
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Don't understand the definition of this coin, can you introduce it easily and plainly? And, by the way, why did you choose such a name for your coin? Thanks in advance
It's kind of the worst coin to ask that  It's called Merit because it rewards merit, as in the growth of the network itself. Other than that there's one gigantic reason for it to exist: having a crypto currency for humans, not geeks. Mining is easier, transactions are easier, exploring the network and expanding it is easier. They aim high with these two core concepts, that's it. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]
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on: September 07, 2018, 07:15:20 PM
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I have another question regarding Growth Mining. Couldn't a handful of people working very efficiently end up causing a sort of growth mining centralization?
Proof of Growth allows for people to be rewarded based on their community growth score. The 50% of the mining rewards gets randomly distributed in a form of a lottery every single block. Lets say someone has multiple accounts with large communities, they might get a high chance of winning the lottery, they never get 100% of the rewards. Also invites are distributed randomly in a variety of ways as well. So to answer your question, yes those with a big community may have a higher chance of rewards, but it will be extremely difficult -especially as the Merit network continues to grow the growth rewards get distributed across more wallet, limiting the return for any bad actors. I hope that helps. KAMO saves the day once again lol. Thanks! Are there any communities of growth miners now? I assume they would split the lottery if they worked together? Some pools do. Communities of real miners sharing PoG rewards dunno but groups of friends are confirmed there, hope they share what they get |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN]🚀🚀Merit🚀🚀[Proof-of-Growth][Vaults][Aliases][Escrow][Cuckoo][No ICO]
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on: September 07, 2018, 06:20:18 AM
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No AMD, for now.
When miner for AMD will released ? It's a little dishonest that some can mine, others can not. It's not about honesty, it's a matter of algorithm. Cuckoo evidently was thought without GPUs in mind, but CUDA adapts well to it so the miner makes sense. All tentatives til now show amd GPUs performing in line with CPUs or worse, so even if released they would make little sense with power consumption in mind. I'm sure development will continue, but it's just not a matter of will. |
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