I am trying to understand the description of quark. I particularly unsure about how many coins is really available. From this statement "Total of 247 million QRK will be mined in ~ 6 months, after that ~ 1 million QRK p.a. (~ 0.5% p.a inflation)", what does it mean? What does the abbreviation "p.a. inflation" mean?
per annum Thanks, so let me understand this. After the first 6 months there are a total of 247million quarks, 1 year after that, there will be 248million total, or 247 + 248 = 495millions total? my guess is 248millions, but I am not clear about the language. 247+1 = 248 Million thanks Doesn't that seem like a HUGGGE mistake for Quarkcoin? The few people that came on board to tinker with it at the start will literally already have about 99% of the coins that will be mined for years to come. How many miners of Quarkcoin are there? The developer of Quarkcoin wasn't Satoshi - that's for sure. |
|
|
|
I finally got rid from the last pieces of GPL'ed code in my own miner and can now release it to the public. This miner is not free, a royalty of 1/8 (12.5%) is deducted from every mined block. (Coinbase transaction have 2 outputs, so I get my fee at exactly the same moment you'll get your coins). Download link:https://mega.co.nz/#!QMMEFBYY!AgH4OGrKaRHkRjiVfVXXzxBHbTIlgdD5o3ak2VFuU78 Edit quarkcoin.conf (or Offering.conf, or securecoin.conf) file of your wallet to enable solo-mining, put your own username and password there: listen=1 rpcallowip=127.0.0.1 rpcuser=username rpcpassword=password rpcport=8772 server=1 Edit sm.cmd from downloaded archive, put your own username, password and wallet address there: smelter -o http://127.0.0.1:8772 -u username -p password -a QNiGvoYctyMwzV1ZjNbjhEoKdQVzFKsmVw This is pre-alpha software, expect all kinds of bugs to be found, don't hesitate to report it here! NVidia and old/rare AMD cards are not supported. Please, give me some time to iron out bugs  Where is this quarkcoin.conf file located exactly? Searching the computer finds nothing. Nothing in the wallet data folder or the folder that launches the wallet executable. |
|
|
|
Has anyone been successfully able to withdraw a good amount of coin - say, over 2,000? If so, how long did it take?
One person here withdrew 700btc. It took him five days to receive I think. |
|
|
|
|
I made three withdrawals. The first is still missing, this afternoon will be 72 hours. The second was received after about 48 hours. The third - which was the largest withdrawal - was nearly instant.
It makes no sense. Withdrawal size and order do not seem to matter.
MtGox is unreliable. I'm going to close my account forever because of their delays and poor customer service. If I were a merchant, I would not use them.
|
|
|
|
I sent LR a private message on this topic.
I'm starting to think it would be worthwhile to start buying litecoin (LTC) mining hardware - whether LR agree's or not. At least folks on a private level people can take advantage. It is seeming inevitable that LTC will be accepted as pay. OkPay just accepted LTC this past day or so, and MtGox is working on adding LTC to be traded with their new engine (whcih will likely get Coinbase to add it and maybe Bitpay to accepting it - an instant massive utility improvement. LTC is currently booming up on large volume. It hit $30 per coin, and is back to trading at about 30 LTC/BTC. Also, because of supply values, where BTC is set to peak at 21mill and LTC is set to peak at 84mill (not sure over what time period), it seems logical or intuitive anyway that LTC will move upwards to 1/4th the price per coin as BTC. If true, LTC has about eight times more growth to just catch up to to that level. In other words, from this time forward, any percentage value gain BTC ends up with, multiply that gain by upwards of eight times for litecoin, just my gut.
Even if people didn't want the LTC, mining for it can be like proxy mining for BTC. You can trade them easily enough on BTC-e....
....and ROI with hardware is 3 months. Should be even faster now with higher prices. All this without worrying about the ASIC swarm...yet.
Interesting. I like the idea but might be out of scope (currently) for LRM. Other than GPU's, are there any actual real options yet? The only things I've found thus far are FPGA's still in development stages. If GPUs are the only real options at the moment, it might be difficult to source good ones. Lots of 7950's are going discontinued. I have not checked 70's or 90's and it seems people are having trouble getting any significantly better performance out of the new R9 cards ($/kHs, kH/J). I doubt FPGA's will be better than GPU's anytime soon with LTC, unless BFL makes them with the Stratix III chips they used in their FPGA Singles everyone returned. Otherwise, the hardware cost are more expensive on the front end. I won't be surprised if they come up with one seeing how LTC is doing. ASIC's are probably far enough out that GPU's - if they can be acquired - are still a good investment. |
|
|
|
wow and i'm still waiting for mine.  Did you receive anything yet? It's been five days for you...or something like that. |
|
|
|
On the Gox "Help" Page:
Withdrawals and Deposits
Marion
posted this on May 31 17:13
Updated on November 8th 2013 (Delays are updated frequently)
07/11/13: Unfortunately some users are experiencing delays in their bitcoin withdrawals. Our technical team are aware of the issue and are working very hard to resolve it. We apologies for any inconvenience caused.
---Well that I suppose is enough to calm me for now.
But it's concerning that they have been "working hard" to resolve that problem since May. Your post was in November.... and apparently it still hasn't been resolved. Unless this is a new problem with the same effect. |
|
|
|
This is Gox's policy for more than a year, I think it shouldn't be too hard to notice lurking forum from time to time.
It would be better if one didn't have to lurk forums to know their policy. They have a press release that states verification is not required for bitcoin only deposits and withdrawals. Granted, there is a note on the website that says all accounts need verification for deposits and withdrawals, but this was true when they involved bank accounts. So, it should have been more explicit to include bitcoin only accounts. Furthermore, they should have refused any deposit attempt if the account was not verified - basic sense if you ask me. |
|
|
|
and they should be treated as such.
They just told me i can not get any of my bitcoins unless I get verified (coins they gladly took without verification), which in absolutely impossible for me, as I live on-the=road and off-the-grid.
So, they changed their rules, without notification, and now that have my coins... forever.
How many other people are having to deal with this bullshit from MtGox?
Personally, i do not believe them... I think they are just making a grab for a bunch of bitcoins that they know many people will never be able to get again, thanks to their new Orwellian policies.
Stay away from MtGox, and spread the word.
I went through the same problem, as well as others. Just verify and be done. It takes a few days after you email them the documents. Then withdraw and delete your account if you want to on principle of their bait and switch practice. But be warned, when you withdraw, you may have serious delays in receiving even bitcoins. It's a shame they can't even do a basic bitcoin transaction with basic bitcoin efficiency. Most would probably agree, that when they accept a deposit before verification it shows how they operate a one sided "policy". |
|
|
|
|
I sent LR a private message on this topic.
I'm starting to think it would be worthwhile to start buying litecoin (LTC) mining hardware - whether LR agree's or not. At least folks on a private level people can take advantage. It is seeming inevitable that LTC will be accepted as pay. OkPay just accepted LTC this past day or so, and MtGox is working on adding LTC to be traded with their new engine (whcih will likely get Coinbase to add it and maybe Bitpay to accepting it - an instant massive utility improvement. LTC is currently booming up on large volume. It hit $30 per coin, and is back to trading at about 30 LTC/BTC. Also, because of supply values, where BTC is set to peak at 21mill and LTC is set to peak at 84mill (not sure over what time period), it seems logical or intuitive anyway that LTC will move upwards to 1/4th the price per coin as BTC. If true, LTC has about eight times more growth to just catch up to to that level. In other words, from this time forward, any percentage value gain BTC ends up with, multiply that gain by upwards of eight times for litecoin, just my gut.
Even if people didn't want the LTC, mining for it can be like proxy mining for BTC. You can trade them easily enough on BTC-e....
....and ROI with hardware is 3 months. Should be even faster now with higher prices. All this without worrying about the ASIC swarm...yet.
|
|
|
|
BFL are now shipping 50/60 GH/s Singles from stock for approx 3 BTC each ?
Is it worth cost / effort / power to get some cheap hashing while stocks last or does difficulty kill it?
I don't think so... 3 BTC isn't cheap.... Besides, you could probably buy at least four times the hashing power by spending that much on Bitfury hardware instead. And the Bitfury delivery times seem to have been relatively quick. |
|
|
|
I have something very big in the works that would mean LRM is very sustainable. I can assure you of that.
You don't have to give details - perhaps you want to protect the sources or opportunity - but how big is very big? Didn't he already say this was to do with free power in Iceland? I don't think so. He probably would have said. And he already responded to my thoughts on electricity costs. I suspect this comment however related to something to do with hardware deals. |
|
|
|
I have something very big in the works that would mean LRM is very sustainable. I can assure you of that.
You don't have to give details - perhaps you want to protect the sources or opportunity - but how big is very big? |
|
|
|
I have something very big in the works that would mean LRM is very sustainable. I can assure you of that.
Have you thought much about moving operations to (or starting new operations in) Washington state for the really cheap electricity? I was just told Iceland is looking to bring big business there and are offering completely free power for the time being... That's what I'm looking into Intriguing. I'm noticing the operative term "for the time being". Not sure why Iceland would offer free electricity. The cooling costs would certainly be better than Washington state. I've heard that Washington state can be as low as a penny and half per kilowatt hour. That's pretty close to free, especially compared to other places. |
|
|
|
LabRat !
KNC have announced their 20nm lineup !
Order book open maybe tomorrow.
If they could get it, then it would be a lower delivery cost to ship hardware from Sweden to Iceland than from Texas, China or Russia  |
|
|
|
I have something very big in the works that would mean LRM is very sustainable. I can assure you of that.
Have you thought much about moving operations to (or starting new operations in) Washington state for the really cheap electricity? |
|
|
|
|
So, the after December 8th dividends. I suppose you might see two more difficulties increase by the time said dividends reach the bond holders. Let's say that equates to 45% increase in difficulty. Hashrate delivered to bond holders will be ~500% of present rate. Applying the difficulty increase, 500% / 1.45 = 245% improvement in dividends. Not what I'd personally call skyrocketing, but certainly seems like it should be better than anything delivered to date. At least it will be nearing some kind of cruising altitude. Whatever hardware is bought with the two weeks snatch (actually it will average longer than two weeks if you want to be technical) will be interesting.
|
|
|
|
I believe I've updated the entire website. Please kindly let me know if I missed something stupid... I'll fix it immediately.
Could please tell us from whom are you going to buy future hardware from , bitfury is good but their shipment delays to us have cost us dear , how about picking-up 2nd hand KNC gear from people bailing out of mining. At this time it is undecided, but I'm in contact with multiple suppliers. Other than Bitfury & BFl gear , have you made any pre-order deals with any other manufacturers ie. cointera , hashfast , I would also request you to please look into Vitrual Mining corp, you could probably have a word with VMC CEO Ken slaughter on this forum to see if you can make a deal work with them because I believe VMC has got prototype chip in hand already hashing. VMC ?!? Are you insane...we already lose time and money, buying vaporware doesn't help... Second hand KNC ? Overpriced...LRM miss the boat...end of line. For the moment Cointerra and/or maybee Clam ( https://bitcointalk.org/index.php?topic=343856.0 ) can be a good choice. LOL 55nm & i am Insane , sure bro  At some point LRM will have to sell gear which doesnt cut it any more , 55nm doesnt bode well. If he finds cheap enough electricity, it would work. I've heard about a location where it costs about one and half cent per kilowatt. That would mean a 55nm option would surpass 28nm in overall cost and delivery time. Besides, as LR noted, Bitfury 55nm can compete with 28nm on power efficiency. Maybe, Bitfury will consume only 50% to 100% more power - which is not too bad - unlike something like Butterfly Labs 65nm which will be many times more power hungry. I've also read somewhere that the Bitfury's can even be optimized further by clocking them with external clocks - something like that. |
|
|
|
|
Consider what this price increase means for LRM. Assuming LR has acquired an extra 20TH to mine with. Then from the two weeks (probably equivalent of more) of mining, LR will accumulate roughly $200,000 for purchase of new hardware once it's all done.
To put that in perspective, 50,000 bonds bought at an average of say $15 each (i.e. BTC0.15/bond @ ~$100/BTC) was roughly $750,000 initially for investment (not all went to hardware at first - there were some intiial setup costs). Therefore, from just these two weeks there the new hardware should (I think) generate 30+% as much as all initial bond sales/trades proceeds combined - measured in fiat. Which is important, because hardware is priced in fiat.
LRM @ 100TH (2GH/bond) seems quite possible not too far out. Unless the Bitfury guys want to raise or keep prices higher due to bitcoin price being higher.
|
|
|
|
i have recently withdrawn my bitcoins from mtgox and my account is unverified. the limitation is not valid for transactions in bitcoin.
What do you mean by "the limitation is not valid for transactions in bitcoin."? |
|
|
|
|
Show Posts
