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Why do I have when trying to mine metamax generates a transaction with an erroneous (expensive) cost of gas? Already ten times in a row...  Metamask will sometimes show an error because it thinks the transaction will fail, but in fact if you set gas price high enough the transaction will likely go through. Just send the transaction despite the alert and it'll probably work.
I just talked to a friend about this coin and he asked me a question . I quote the text from the first page of this thread: If user A calls the mint function with as gas price of 2 Gwei and user B sets gas price to 4 Gwei, user A's transaction will likely end up second in the block and user A will receive the coins (it depends however on the algorithm the miner uses to select and sort transactions).
I was sure that the coins received by the one who pays above the price of the Gwei. But because the description says that "User A" was sending a transaction with Gwai 2 and "User B" transaction was with Gwei 4... and it is claimed that "User A" can also get the Sov coin. How could that be? Your friend was right, there was an error in ht post. Actually User B receives the coin. Fixed now!
I agree with what the previous poster said. STAY AWAY FROM THIS COIN. It is exclusively mined by 2 contracts and the one that submits transactions every few seconds has block priority at one of the biggest pools, sparkpool. No matter what gas you use, they will still be awarded a higher block position and you will fail to mine the coin and lose your money. This coin is not sound money, not fairly mined, and is already extremely imbalanced. Also, the metamask extension never uses the proper gas limit, and even though every single transaction from the two scripts that are mining this coin only uses 52,000 gas, when i set my limit at 55,00 gas my transaction fails for reaching the gas limit. Yet, somehow, when i look at the previous 100 transactions, every single one of them only used 52,000 gas. There is something shady about this coin. Stay away
I don't think the part about spark pool is true. SOV is not important enough to draw the attention of any major pools yet. It could be that spark pool doesn't sort transactions by gas price though. Regarding distribution, that should get much better over time. Right now, there's simply few people interesting in minting SOV, and those do mint a lot of SOV. The biggest holder has ~450 SOV right now, that's 0.004% of future total supply. Over time this will will dilute heavily. Also, two CLI miners are publicly available: https://github.com/soundmoneycoin/sov-minter-clihttps://github.com/soundmoneycoin/sovminer-pythonThe only question is if you want to invest all the gas fees for minting, it will add up to a lot of ETH over time. |
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just wanted to let you know that this coin is going to have a tough time of adoption. Your coin is already overrun with scripts that automatically bid higher than the person, and that also seem to have deals made with the mining pools as their lower fee transactions are also getting block priority. Tried high amounts five blocks in a row and every time a much lower fee got priority. And it is from one of the scripts that non stop subimits. You need to find a way to block the automated scripts or set it up so that no address can receive more than a certain number of coins an hour or day
Read the sections in the whitepaper on mining and clogging of the Ethereum network. It is expected that Ethereum miners will start cheating at some point if there is enough incentive to do so. Also note that not all miners sort transactions by gas price. It is the default setting in geth, but miners are free to use their own sorting algorithms. Other things, like the sender address, time received, etc, could also play a role: "It is expected that over time, only the most sophisticated minters, who are also willing to pay a high gas price, will compete for new SOV. An equilibrium should emerge between the cost of minting SOV and the price at which it trades on the market." |
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Isn't it better to direct people to a Howto about trading on ForkDelta than to ForkDelta itself? Most people will not be familiar with how a DEX works and might prefer an explanation.
Folks, we are happy to announce that our whitepaper has been released: http://www.soundmoneycoin.io/whitepaper.pdfIt is now also linked from the ANN. |
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For mining requires a regular computer and Internet access, I understand correctly? Which component of the system will be a big load?
All you need is Chrome browser and Metamask. No load on the system, but you have to pay Ethereum gas fees and the price will get higher over time. |
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It seems the SAV coin is starting to be popular with users. if a few days ago I was able to mine the coin, I send transactions with GWEI 3 - 4, but today with GWEI 10-12 transactions turn out to be unsuccessful. Only with GWEI 15 and above can be successful. This suggests that there is growing competition among those who mine this coin!  Currently gas prices are however around 10-11 Gwei. Because some of the transactions fail actually costs around $5 to mine 1 SOV right now.
Not all topics have it! Administrators must actively take part in chat! Otherwise, users simply will not be interested in this project!
It's all about priorities, most often, active communication goes in telegram chats. In telegrams it is much easier to communicate than on the forum. Messages appear instantly. And on the forum you need to do extra movements for writing and reading messages. We'd be happy to welcome you as our Telegram moderator  |
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I do not see anything strange. A man had an idea how to make a perfect coin. He realized his thoughts in a smart contract and posted a contract on the ethereum blockchain. What is the need for a development team here  In this project, one person is enough, in fact, he completely expressed his idea, all that remains is to follow everything  Everyone is free to contribute to building infrastructure. We're considering setting up a DAO for governance that will be filled from the developer fund, and may also be used for rewarding people who make significant contributions. |
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Today, if you indicate gwai 3 or 4 then transactions do not bring coins ... only from gwai 5 and up. This means that the number of interested miners has increased?
I am quite new in mining community, so could anybody tell me what gwai means? It seems like it is like measure of something Wei is the smallest unit of account in Ether, kind of like Satoshi is for Bitcoin. Gwei stands for "Giga-Wei", or 1,000,000,000 Wei. You can look up the units here: https://etherconverter.online/
Today, if you indicate gwai 3 or 4 then transactions do not bring coins ... only from gwai 5 and up. This means that the number of interested miners has increased?
Yes, that was to be expected. It will probably move upwards in the future. |
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I am pleased to invest in the project, the tokens of which are already traded on cryptocurrency exchanges. What other exchanges besides Forkdelta planned listing SOV Coin?
Sometimes the listing of tokens on top exchanges is quite expensive, this issue should be approached wisely. Forkdelta is a good exchange, but there is need to get listing on some other. I believe it can be HitBTC for example We will look into a centralized exchange, but first there needs to be more liquidity. Only 587 SOV have been mined so far and there's only 42 holders. Y'all need to get mining!!!!
Meanwhile, the price of a coin has increased significantly in exchange! Now you can sell SOV Coin for about $ 2!  Oh, it is very pleasant news and I hope it will be possible to reach 20-30 dollars till summer It is really nice to see positive news, I will continue to follow the news, but we can not stop there. the coin grows during a falling market, a very good indicator. I hope that the project will continue its quality development when the market recovers. Most people are not comfortable trading on Forkdelta. It will need to be listed on a real exchange for price discovery. |
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You paint integration with Ethereum so beautifully.Is there official confirmation of Your words or is it just a fantasy?In addition to forkdelta where else is trading Your token?
Bot sure what you mean by "official confirmation". You can check the smart contract on Etherscan  We're investigating an exchange listing, but right now it is still far too early for that. A second way to trade it OTC on Discord.
My finger and arms hurt from having to mine this manually. It would be amazing ff the crypto community came up with a tutorial on how to set up the automation of minting this coin. I have been viewing the explorer and I'm more than convinced that someone is minting this automatically I'm sure it'll happen. There is already a Python miner that you can use as well but that needs some technical skill to set up. |
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I think that Whitepaper and roadmap are the most important documentations am therefore developers should publish them
Of course, these are important documents for any project. But agree that it is better when there is no White Paper and a Road Map, but there is a unique code of its own and a unique idea. There are many projects that have white paper, road maps and a beautiful website, but there is no active development. I don’t understand why you think that it is better not to have Roadmap and Whitepaper.. I also think that it is very important part of any project because it gives clear understanding to all community members I agree with you. community and investors want to know all the information about the project. So that’s why we can stimulate devs to do it:)) it is important if team take to account their investor’s opinions Roadmap has been included into the ANN OP and announcement article. World domination and $7 trillion marketcap buy 2035. |
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It is a meme that every crypto project needs a whitepaper. Look into the ANN thread and check out the smart contract source code, all the information you need is there!
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On the one hand, the project looks technically very interesting and unusual, but on the other hand, everything is very primitive: no Breeding Card and White Paper ... no information about the team ... I would like all this information to be available to users.
You correctly noticed that there is little information about the team, and there is no white paper, perhaps in the future it will be, but you want more information than it is now I think that Whitepaper and roadmap are the most important documentations am therefore developers should publish them I don't agree that a whitepaper is necessary. Whitepapers are a meme. All the information you need is in the smart contract code and ANN. |
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Another sound money idea, bitcoin was suppossed to take this role but it seems be more like paper money disruptor than soundmoney. let this experiment running and we all should know. Anyway i have heard from someone in ethdenver that with the time being the eth devs are preparing to reduce gas fees even to 0. Now if that happen in the future, how can we mint the SOV? Still it use the auction system'?
It is not possible reduce the gas fees to 0. There would be no more spam protection and anybody could flood the network. |
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Mining in the browser sounds very cool! Whether prompt there is any detailed instruction how to configure everything? I would like to try but never did any mining.
I am also interested in this question. I do not see the site and white paper of this project? Where can I find intructions? Unfortunately the best instructions we have right now are in the OP. But you can reach out on Discord for support.
Mining in the browser sounds very cool! Whether prompt there is any detailed instruction how to configure everything? I would like to try but never did any mining.
Check the ANN post on page 1 or ask on Discord. |
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How do I understand the white paper and more detailed information about the project will be later?
There is no whitepaper. It's simply a smart contract, no ICO, and complete and utter anarchy. No Team and No whitepaper - you want people to mine coins and what? a pump and dump? Anarchy as you wrote? Venezuela II? Actually the opposite of Venezuela, because there is no way to print SOV beyond the limit set by Ethereum block times, and inflation is set in stone forever. That's the whole point  Smart contracts replace the need for a team. The smart contract already fully determines all aspects of the currency, band in contrast to Bitcoin it can never change. Regarding pump & dump, any coin is susceptible as long as trading volume is low. The only way top prevent it is to have as many individuals mine as possible and prevent whales from accumulating to many coins. |
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Indeed, with the standard value gas does not work. I put gas in the tinctures = 5 and the transaction was successful. But nothing else happens. What should I do next? Do not close the browser or what to do?
If the transaction was successful, you should see a balance of 0.05 SOV in your wallet. You can send those around using Metamask but you have to add them as a custom token first. I'll add a howto for that to the OP later. |
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How do I understand the white paper and more detailed information about the project will be later?
There is no whitepaper. It's simply a smart contract, no ICO, and complete and utter anarchy.
Maybe I missed somewhere, I understand that verification is not necessary, you just need to have a metamask wallet?
That's correct. |
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so we just need to click non stop <mint>? that all?
Basically, yes  You might need to increase the gas price to outbid other who try to mint in the same block. |
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I receive this error in metamask
ALERT: Transaction Error. Exception thrown in contract code.
This happens if another user bids for the same block reward but pays a higher gas price. In that case, your transaction will likely end up in the same block *after* that user's transaction. Currenly, it looks like users pay between 3 and 4 Gwei for a transaction (you can look this up on EtherScan, but hopefully we'll have a dashboard soon that shows some stats about that.). This means that if you want your transaction to likely succeed, you should set a gas price of 5-6 Gwei. |
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Guys, you forgive me, but I can not understand how mining in the browser? It turns out that any user can just start mining on his old laptop? Sounds fantastic!
Mining is not resource intense but the cost of production manifests itself in gas fees. If you have two competing transactions, miners will tend to prioritize the transaction with the higher gas price. If one user calls mint() with as gas price of 2 Gwei and another user who pays 4 Gwei, user number will likely lose the bid. Theoretically, gas price could go up indefinitely depending on how much demand there is for mining SOV. |
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