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Author Topic: AURORACOIN - Empowering Financial Freedom  (Read 138034 times)
ny2cafuse
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January 08, 2016, 04:27:10 PM
Last edit: January 08, 2016, 04:49:56 PM by ny2cafuse
 #821

Personally I would love to be able to "give the power back to the people" by using a GPU/Asic-Resistant algo. But smarter people than I have failed at that. Again: Auroracoin is not about technology for me. Of course it would be quite good for Auroracoin because the more it is "just about the energy consumption", the better for the population of Iceland (because they have low electricity cost, right?). It just seems to me other things are way more important at this time.

imo we're good with scrypt at this point.

I don't quite understand the talk about shortage of scrypt gear... that's a problem affecting everyone, right? So it doesn't really matter. Maybe someone can explain this to me.

Also: there are markets for that: https://www.nicehash.com/. You can competitively rent hashrate there. I used to do that back when when Auroracoin used to get stuck to find a block and kick it off agian. I think all in all I might've even netted a small profit on that action, or at least only a small loss. I had initially expected to run quite a loss on such an idea, but it wasn't the case.

I agree that there are more important things to focus on at this time.  We're looking at a lot of those other things concurrently.

With regards to the scrypt gear, I think the big issue is there isn't a continuation of producing mining gear for scrypt.  Yes, there are sites where you can rent hashes.  Yes, there are places where you can mine with one algo and get paid in a coin that uses another.  However, where is the control of power at that point?  It's in the hands of the equipment holders.  While you're case might be shining light for some would-be cloud miners, I think it's more atypical.  If you don't have other mining equipment feeding the BTC costs of the rented hashes, the money either comes out of pocket or out of mining revenue.  It's a wash, or in most cases a loss, for most people.  At that point it would be easier to just buy AUR.

The other major issue with scrypt gear out there is what is available is used, loosing dies, and inefficient.  There is no new gear.  There isn't the constant progression of mining gear that makes things continually more secure like you have with SHA or even GPU/CPU mining.  Basically we're stuck at what I would call the maximum total available hashes.  We aren't increasing available hashes, but altcoins are still being created.  So the hashes get spread thinner and thinner... jumping between the profit of the day coin.  Even if you could find a decent amount of gear to dedicate to AUR, you're looking at very polar opposites in terms of what's available.  You either have Gridseed-based units or Titans.  There isn't a lot in between.  Titans are still selling for $3k in the forums, so that's out of the question for budget miners like myself.  The Gridseed-based miners are a cheaper option, but getting old.  And people beat the hell out of them- removing fans, doing wonky voltage mods, etc.

All that being said, I love scrypt.  I just wish they continued producing miners that were more and more efficient.

What about the massive sha mines already in Iceland.

These mines could mine auroracoin and the icelandic government would then be incentivised to adopt auroracoin and invest national resources to the mining of auroracoin thereby kickstarting mass adoption in iceland.

I think keeping the government out of the financial affairs of it's citizens is where we're trying to go.  The team members from Iceland can speak better to this, but I think the Icelandic people have been pretty straight forward when it comes to what they think of government finance  Wink

Adoption is the key, but if you take Gulden(yes I said it) as an example of public adoption, you don't need the government to do it.

-Fuse

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molecular
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January 08, 2016, 04:38:38 PM
 #822

With regards to the scrypt gear,...

Thanks for those explanations. I understand the reasoning. There's certainly something to it and it could become a problem.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
molecular
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January 08, 2016, 09:10:47 PM
 #823



Muahahahaaaa

(having some fun, hadn't mined in a while)

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ny2cafuse
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January 08, 2016, 09:16:56 PM
 #824



Muahahahaaaa

(having some fun, hadn't mined in a while)

Nice!  Makes me want to botnet the school district I work for! lol

-Fuse

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January 08, 2016, 09:51:32 PM
 #825

has a crypto currency ever succesfully swithced from scrypt to sha 256?

assume sha 256 miners become so effecient that budget miners like yourself could afford to buy and the chances of auroracoin switching to sha 256 approached absolute.  auroracoins price would dramatically increase in a switch.

would current miners of auroracoin lose out in a switch?

yes in terms of mining share but no in terms of the increase in value of their currency holdings and no if they could  buy technology at cheaper prices in the future.


without the government being involoved, what about the massive mining potential in iceland thats being spent on bitcoin and not auroracoin. surely these miners should be the backbone of the currency, even if scrypt miners lost market share to them.
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January 08, 2016, 10:01:27 PM
 #826

in other news: the south african rand to bitcoin trade was the 4th most profitable currency trade in 2015.

http://www.zerohedge.com/news/2016-01-07/its-official-bitcoin-was-top-performing-currency-2015

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January 08, 2016, 10:09:34 PM
 #827



Muahahahaaaa

(having some fun, hadn't mined in a while)

Nice!  Makes me want to botnet the school district I work for! lol

-Fuse

A botnet might not be suitable.

Let's run some (very rought) numbers:

Network hashrate is around 4-5GH.

Rough calculations say you need about 16 MHash/s to find a block a day on average.

That's roughly 1600 machines if you're CPU-mining (assuming 10 kHash/s per machine) or maybe 50 machines if you have decent GPUs in them. Those GPUs will consume around 10 kW, so that'll net your school district around 240 kwH per day (with European electricity prices, we're looking at roughly €50 per day (for 12.5 AUR worth about 0.5 €).

Maybe better get one of these:



4 of those cubes with a controller and stuff would set you back something like 2-3000€, but would have 20 times the hashrate (300MHash/s) of the botnet described above. So that thing would net you roughly 250 AUR/day (worth 10 €) consuming €5 in power (with the assumptions from above)

We can deduce from these (thought and practical) experiments: mining AUR is a very competitive industry.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
ny2cafuse
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January 08, 2016, 10:40:17 PM
 #828

A botnet might not be suitable.

Let's run some (very rought) numbers:

Network hashrate is around 4-5GH.

Rough calculations say you need about 16 MHash/s to find a block a day on average.

That's roughly 1600 machines if you're CPU-mining (assuming 10 kHash/s per machine) or maybe 50 machines if you have decent GPUs in them. Those GPUs will consume around 10 kW, so that'll net your school district around 240 kwH per day (with European electricity prices, we're looking at roughly €50 per day (for 12.5 AUR worth about 0.5 €).

Maybe better get one of these:



4 of those cubes with a controller and stuff would set you back something like 2-3000€, but would have 20 times the hashrate (300MHash/s) of the botnet described above. So that thing would net you roughly 250 AUR/day (worth 10 €) consuming €5 in power (with the assumptions from above)

We can deduce from these (thought and practical) experiments: mining AUR is a very competitive industry.


I was mostly joking, but I could tell you that I have domain admin rights to around 600 student desktop computers which aren't used at night.  Half of those are in graphics arts labs, each with dedicated video cards.  I'd be in and out before they got the power bill, and even then, they wouldn't know what caused the spike.  Not that it's possible, but if there was a way to mine on a Chromebook without tipping anyone off on what was going on, I could push a miner to around 10k Chromebooks.

I manage both domains, so it wouldn't be difficult.  And worst case scenario, I could just claim plausible deniability or say it was some kind of virus.  The upper administration here doesn't even know how to use excel.  You could tell them that the reason their wireless keyboard doesn't work is because their CPU died, and they would think it's totally plausible.  Gotta love the California public education system.  All in all though, it's something I've debated with some coworkers before... at least when scrypt asics were just coming out.  Now though, it would just be a test in theoretical possibilities.

The titan is a great machine, but even the ones being sold are being listed with bad dies.  I've read a lot about the failure rate on them over the last few months as well... it's not something I would want to purchase used.  That's like a ticking timebomb of profit loss.  But even if you did buy it used, still, that's $3k, and then at least for me, something to the tune of $300-400 in power every month.  California has a tiered rate system that puts you up into a $0.36kw/hr rate if you run, what seems like, more than a fan and a lightbulb in your house.  Even with the bitlicense issues in New York, I'm going to be happy to move back there in 2017.  Flat rate $0.11-0.12 where I'll be, so I can turn my 20mh in scrypt gear back on.


has a crypto currency ever succesfully swithced from scrypt to sha 256?

Not in this day in age, I don't think.  You would have to hard code a starting difficulty to mitigate the initial hashrate increase.  Even then, you're playing a guessing game on how many hashes would swing over and possibly stall the chain.  There are better options out there though, rather than just going straight to SHA.  Rocanonz mentioned one of them.  But like I said... we discussed almost all of our available options, and we're working towards a few of them right now.

-Fuse

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adamastor
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January 09, 2016, 09:13:14 AM
 #829




has a crypto currency ever succesfully swithced from scrypt to sha 256?

Not in this day in age, I don't think.  You would have to hard code a starting difficulty to mitigate the initial hashrate increase.  Even then, you're playing a guessing game on how many hashes would swing over and possibly stall the chain.  There are better options out there though, rather than just going straight to SHA.  Rocanonz mentioned one of them.  But like I said... we discussed almost all of our available options, and we're working towards a few of them right now.

-Fuse
[/quote]

whaT options are available?

rocanonz?
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January 09, 2016, 01:15:29 PM
 #830

Adamastor - do you have some pictures from your south african auroracoin stand?  Thanks !
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January 09, 2016, 01:49:54 PM
 #831




has a crypto currency ever succesfully swithced from scrypt to sha 256?

Not in this day in age, I don't think.  You would have to hard code a starting difficulty to mitigate the initial hashrate increase.  Even then, you're playing a guessing game on how many hashes would swing over and possibly stall the chain.  There are better options out there though, rather than just going straight to SHA.  Rocanonz mentioned one of them.  But like I said... we discussed almost all of our available options, and we're working towards a few of them right now.

-Fuse

whaT options are available?

rocanonz?

[/quote]

One of the available options to secure a blockchain with POW is multi-algorithm mining. Like it's the case with DigiByte.
There are some other good options but I didn't do any research on them. And there are some best options to secure the a blockchain, in early stage of development or not invented yet Cheesy
In any case I believe the DEV's will take a good decision, regarding the AUR blockchain mining algorithm.
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January 12, 2016, 11:46:34 AM
 #832

Adamastor - do you have some pictures from your south african auroracoin stand?  Thanks !

i dont but i've got pics of me at the event doing non aurora related stuff.

so no photos but a big mailing list
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January 12, 2016, 01:01:15 PM
 #833

Adamastor - do you have some pictures from your south african auroracoin stand?  Thanks !

i dont but i've got pics of me at the event doing non aurora related stuff.

so no photos but a big mailing list
I ask myself, how such a thing is possible that you don't have any proof of facts, knowing that the guys here invested trust and money in your little enterprise?
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January 13, 2016, 11:12:15 AM
 #834

Adamastor - do you have some pictures from your south african auroracoin stand?  Thanks !

i dont but i've got pics of me at the event doing non aurora related stuff.

so no photos but a big mailing list
I ask myself, how such a thing is possible that you don't have any proof of facts, knowing that the guys here invested trust and money in your little enterprise?

Don't blow this out of proportion, not as if Adamastor was not on any official business.

No serious trust or money invested.

On the other hand it's great that he on his own initiative started promoting Auroracoin because he believes in this project.

"Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone". Satoshi Nakamoto
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January 13, 2016, 11:47:33 AM
 #835

Adamastor - do you have some pictures from your south african auroracoin stand?  Thanks !

i dont but i've got pics of me at the event doing non aurora related stuff.

so no photos but a big mailing list
I ask myself, how such a thing is possible that you don't have any proof of facts, knowing that the guys here invested trust and money in your little enterprise?

Don't blow this out of proportion, not as if Adamastor was not on any official business.

No serious trust or money invested.

On the other hand it's great that he on his own initiative started promoting Auroracoin because he believes in this project.
Where is the reasonable proof that what he claims is true. Do you have any?
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January 13, 2016, 02:26:39 PM
 #836

Well the point Dinobotta made is it may be truth (great) or not (change little) - no money or trust involved.  Still, it's not good promotion to take zero pic of such event - if real Smiley.  Each time AUR is out there, we should share. 

That being said - another helper joined the effort - an icelandic guy (will let him introduce himself) wanting to help with boards - translation - exchange testing and so on.  He join the newly arrived webdev (actually working on AUR websites) and myself into the '' AUR freshblood'' group Tongue.

Doors are wide open - as I stated on my new year wishes - we need an ARMY of volunteers.

I know some of you guys are on twitter, FB, Linkdit etc.

If you don't have much time to invest - you can still help with these channels (prepare the ground for the big splash coming).  I can provide you guys some tips - and stuff you can do that would contribute without having to spend to much time on it.  Just PM me - I will help you grow your own channels - and doing so AUR channels.

Let's rock this out !
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January 13, 2016, 04:36:49 PM
 #837

...
That being said - another helper joined the effort - an icelandic guy (will let him introduce himself) wanting to help with boards - translation - exchange testing and so on.  He join the newly arrived webdev (actually working on AUR websites) and myself into the '' AUR freshblood'' group Tongue.

Doors are wide open - as I stated on my new year wishes - we need an ARMY of volunteers.
...

New icelandic guy reporting Smiley long time lurker, but eager to see this prosper. I look forward to being part of this marathon, and believe this can become what it was meant to be, given enough energy and time.

I hope I can be of use, and maybe lay my own marks on this adventure Smiley


Larus, a.k.a. Polarbear (Isbjorninn on this forum)
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January 13, 2016, 05:38:00 PM
 #838

yea i can show you some wallets I loaded on the 28th of december.

I've loaded about 200 wallets and successfully handed those out to people, with about 100 who gave me there email address.

this is the email i'm about to send to the mailing list

****************************************************************************

Hello learning man

My name is Matt,which means gift in Hebrew.

I would like you to accept the gift of a new dawn.

The Latin word for Dawn is AURORA!

I have given you one aurora coin for you to cherish for ever.

If you would like to see data on what your coin is worth simply type the public crypto-code for your coin into the search bar @ https://bitinfocharts.com/auroracoin/

If you have lost the crypto-codes to your coin or your coin data does not show up simply request that we resend you the two keys for your coin.

Your coin comes with two crypto-graphic codes, one private and one public.

The public code is the shortest, its like a postal address, its the address people need when they send you aurora coins.

The private code is like the key to your bank vault where your coin is stored. Only you should have that key. Banks also keep a copy of that key if its a physical vault but this is a digital vault protected by a code that only you have.

I have a copy of your private code because it grants access to a bank vault that I created and I want to make sure it's still accessible to you even if you lose your key. your bank would have a back up key but there is no bank here, its just me and you and a computer network in Iceland.
So there's no bank?

Nope.

So who controls its supply?

A decentralized network of computers that all vote democratically on decisions of supply. Currently 4000 new coins are supplied every day. How ever there is a finite amount of 12 million coins left to be supplied but the flow of these coins will gradually become less and less making the coins harder to acquire and more rare over time.

Who gets those new coins?

the computers in the network who spent mass amounts of computer power to record all the monetary transactions in the auroracoin network plus generate codes that are strong enough to secure private digital bank accounts like the one you possess share the new supply of coins.
So who backs the coin?

People who want a currency free from the control of any centralized group.

What are the benefits of having a currency free from a centralized group?

- You can pay for goods and services instantly without the need for interference, regulation or classified information.
- Your monetary transactions cannot be taxed or followed.

- You can create and send private bank accounts to friends and family with a simple sms for free.

- you can raise money for your projects from a crowd of like minded individuals.

-you can make an income online working internationally, being paid in a universal currency that cannot be taxed when you make an income.

-you can buy a share in your bank by connecting a computer to the auroracoin network and exchange computer power for more currency.

But most of ALL

Decentralized currencies have begun a fifteen year cycle of replacing  centralized currencies and AURORA is the new dawn in this trend.


So there are no bankers?

Not quite. The currency is maintained by a network of computers and users that give it value. The computers are owned by a mix of individuals and companies who are motivated by profit to maintain the currencies network.

Furthermore these individuals who are heavily invested for profit go beyond the realm of what exists and actively develop technology that makes the currency more user friendly. When the currency was born it was maintained by a small network of computers with very little access for the average consumer. As time has passed, a core group of technology developers have organized and contribute most of their developments as open source technology to be used freely by consumers.

Lastly there is an Auroracoin foundation that is a group of mostly Icelandic individuals who are interested solely with the currencies adoption in Iceland and maintain dialogue with government, corporates, and the public about the adoption of Auroracoin as the working currency of Iceland.
So to answer your question are there bankers?

yes, instead of killing the bankers, we are making more bankers but this time the people have the chance to become the banker by joining a network of people scattered across the globe dedicating their computing power to the network or simply using the coin as an international currency.

The gift of the new dawn is the realization that YOU are the banker when you decide to hold on to this coin and that the power is now in your hands to decide the fate of the world.

Bring the new dawn to your people and buy your goods and services with a decentralized currency like Auroracoin.

*****************************************************************************

send me any rewrites if you would like me to change this message before i send it out on Friday.
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January 13, 2016, 05:52:26 PM
 #839

sorry about no photos guys.

I did get someone to record a video and take several pics but unfortunately she has discarded or lost those pictures without giving them to me.

I can tell you that the majority of what I did involved printing paper wallets onto cardboard debit cards, drawing the fehu sign on it and giving them out one by one to people and getting them to give me their email.

I then gave two separate hour long talks under a tent which was attended by a handful of people. one of the organizers attended the first talk and approached me for support with their talent exchange currency. On the last day she introduced me to the entire festival and i got to speak at the communal meeting where I told the whole group of about 200 people about Auroracoin.

so i think i achieved my goal which was to bring auroracoin to the people. that happened and they are now a captive audience for further developments from the aurora team.
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January 13, 2016, 09:02:44 PM
 #840

It sounds like you have done a lot.

You letter sounds very informative and reads in a very friendly and non-intimidating manner.

Feel free to PM me if you would like it reviewed and to have some of the punctuation fixed prior to sending.
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