[ANN][MDT] Midnight | BMW-256, 1-Click Nodes, Ongoing POW, POS [MODDED]

[midnightwish]

https://i.imgur.com/Os6IHyy.png
https://i.imgur.com/3Y83W0v.jpg
https://i.imgur.com/l0LiEIX.png


Midnight is a combined proof-of-work and proof-of-stake cryptocurrency that uses the Blue Midnight Wish hashing algorithm throughout, for block hashes as well as additional replacement of Bitcoin's double-SHA256 hashing.  Proof-of-work in Midnight is ongoing.  The initial mining emission is a high reward using a triangle waveform, with proof-of-stake high rewards interleaved.  After approximately 15 days of high reward period, the block reward for both POW and POS goes to 1 MDT per block, and halves every year to a floor of 0.125 MDT for POW and 0.25 MDT for POS.  Every 720 blocks is a 100 MDT coin reward, which acts as an incentive to mine on a continuous basis.

Midnight can be mined right from the wallet or daemon by entering "setgenerate true" in the RPC console (Help->Debug Window), or passing -gen=1 on the command line or placing gen=1 in the midnight.conf file.

Midnight includes 1-click Midnight Nodes.  The masternodes receive 33% of the stake reward and 10% of the stake reward goes to the Midnight Reserve stabilization & dev support fund.  More details about the Midnight Reserve will be released in the near future.

Midnight's high reward phase has been designed to reward both early and late miners, so everyone has a chance to get onboard.  The efficiency of the BMW algorithm means you can mine with old hardware, cloud mine, or mine however you like.  Eventually we anticipate that someone will develop an FPGA or GPU miner.

Midnight Specs

Ticker symbol: MDT
Block spacing: 60 seconds
Maturity: 40 blocks
Min Stake Age: 4 hours
Port: 28801
RPC Port: 28802
Midnight Node Amount: 5000 MDT

Downloads

Source Code on Github

64-bit Windows QT Wallet (v1.1.1 for working midnight nodes)

32-bit Windows QT Wallet (v1.1.1)

CPU Miner produced by ocminer (Thank you!) Source:  https://github.com/ocminer/cpuminer-bmw

Experimental sgminer source: https://github.com/midnightmdt/sgminer
Experimental sgminer work in progress Windows: sgminermdt-windows.zip
Note: OpenCL kernel file needs to be implemented to hash BMW-256, if you want to work on it you can find it in kernels/midnight.cl.

Mining Pools

https://mdt.suprnova.cc

Block Explorers

explorer.mdt.website

Social Media

@midnightmdt on Twitter

Exchanges and Trading Sites

YoBit: https://yobit.net/en/trade/MDT/BTC

Games and Services

Midnight Coin Dice: https://yobit.net/en/dice/MDT


https://i.imgur.com/6CB25Io.png

[Sir_Astral]

New thread?

[badam]

Will the other thread be locked? If so you should put a link in the begining of the OP so useful info will be still available.

[djm34]

Will the other thread be locked? If so you should put a link in the begining of the OP so useful info will be still available.

just to finish, it isn't high, it is hours of works, experience (and 2 miners nvidia and amd) so 3btc I am still on the cheap side...

[Dennahz]

Awesome work on the 1-Click Nodes!

[djm34]

This coin will be lucky to get a market cap of 3 btc.

well, if it isn't in the ambition of the dev, then not sure why anybody is mining either or even looking here.
Sometimes you have to give yourself the mean to do great things, it won't just happen to you if you don't do anything.

[myagui]

@midnightwish:

Looks to be that a bunch of wallets are staking without properly rewarding the masternode % of the PoS blocks.
Please look into this right away and push for an update that forcibly drops the offending/outdated clients from the network.
Otherwise, this remains a fundamental flaw in the masternode incentive. You can take most of the higher positions on the richlist as examples of this behavior (though not all of them).

On the other hand, if the coin will be 90% mined by the time you manage to get a working GPU miner released, it will probably not matter much at all that you fix the issue with masternode rewards (or anything at all). Would be good if you'd settle some deal with djm34, or any other capable miner developer for that matter. IIRC, OCMiner had said much earlier on, that it would be a 5 minute job to get a cuda version made. He's either lacking the 5 minutes, or perhaps the task was underestimated?

It's nice that you've approached this coin with a new algorithm and all, but if you keep ignoring the current flaws in distribution, there isn't much to expect ahead. One positive impulse right at hand, is awarding bounties for community contributions. I hope you can overcome these few hurdles and drive the project forward.
Best of Luck!

[midnightwish]

@midnightwish:

Looks to be that a bunch of wallets are staking without properly rewarding the masternode % of the PoS blocks.
Please look into this right away and push for an update that forcibly drops the offending/outdated clients from the network.
Otherwise, this remains a fundamental flaw in the masternode incentive. You can take most of the higher positions on the richlist as examples of this behavior (though not all of them).

On the other hand, if the coin will be 90% mined by the time you manage to get a working GPU miner released, it will probably not matter much at all that you fix the issue with masternode rewards (or anything at all). Would be good if you'd settle some deal with djm34, or any other capable miner developer for that matter. IIRC, OCMiner had said much earlier on, that it would be a 5 minute job to get a cuda version made. He's either lacking the 5 minutes, or perhaps the task was underestimated?

It's nice that you've approached this coin with a new algorithm and all, but if you keep ignoring the current flaws in distribution, there isn't much to expect ahead. One positive impulse right at hand, is awarding bounties for community contributions. I hope you can overcome these few hurdles and drive the project forward.
Best of Luck!

I made some adjustments to the seed nodes to help with keeping everyone sync'd up with the masternode list which should help keep the masternode payments consistent.

I really feel there is no flaw with the distribution but thanks for your input.  There are several periods of high rewards through to next week, and you have the opportunity to get some of those high rewards via POS2 staking and not just POW mining.  Also keep in mind that after the rewards drop to a normalized level there are still several 100 coin high reward blocks every day that you can win via both POW and POS mining.  It was designed to try to give everybody an opportunity regardless of gpu miner or not or having a ton of money to sink into cloud mining or being quick on the draw with the launch (which a lot of people were).  It seems that a lot of people were able to get their hands on some coins so I think the strategy is working so far.  There is still plenty of time to participate and get some coins, you can grab the cpu miner and rent some amazon instances and point them at suprnova for instance.

[Scorpianz]

Damn looks hard to mine on windows

[djm34]

This coin will be lucky to get a market cap of 3 btc.

@midnightwish:

Looks to be that a bunch of wallets are staking without properly rewarding the masternode % of the PoS blocks.
Please look into this right away and push for an update that forcibly drops the offending/outdated clients from the network.
Otherwise, this remains a fundamental flaw in the masternode incentive. You can take most of the higher positions on the richlist as examples of this behavior (though not all of them).

On the other hand, if the coin will be 90% mined by the time you manage to get a working GPU miner released, it will probably not matter much at all that you fix the issue with masternode rewards (or anything at all). Would be good if you'd settle some deal with djm34, or any other capable miner developer for that matter. IIRC, OCMiner had said much earlier on, that it would be a 5 minute job to get a cuda version made. He's either lacking the 5 minutes, or perhaps the task was underestimated?

It's nice that you've approached this coin with a new algorithm and all, but if you keep ignoring the current flaws in distribution, there isn't much to expect ahead. One positive impulse right at hand, is awarding bounties for community contributions. I hope you can overcome these few hurdles and drive the project forward.
Best of Luck!

I made some adjustments to the seed nodes to help with keeping everyone sync'd up with the masternode list which should help keep the masternode payments consistent.

I really feel there is no flaw with the distribution but thanks for your input.  

I don't think you really understood our concern:
What Myagui was saying is that some of the richest address don't give any coin to the masternode:
for instance, if I take that address: https://explorer.mdt.website/address/MjUZoPsTWvysTmv2BNs5uXjjP1ZzxzSvGN
if you look at the transactions, they all corresponds to POS blocks which divide into 2 contributions:
* 10% for you (which is huge by the way... that like 10% premine considering the short life of the POW)
* 90% for the address.

However it should be 10% for you (still huge I think)
                             33% for the masternode
                             57% for the owner.
So that wallet doesn't pay any contribution at all to the masternode
The second richest wallet, is yours which collect the 10% fee on staking (and actually did send some coins to the masternode)

3rd wallet normal
4rth richest wallet https://explorer.mdt.website/address/MXtJF4eVdWpVGfJt6vpd6CQWmgmtreR7uu
again same pattern the pos reward is devided by 2 10% for YO 90% for the wallet and nothing for the Masternode.

So it seems that the largest wellets don't pay their contribution to the Masternode. hence there is a flow in the design which after the righteousness of the distribution of the coin.

This problem needs to be address as soon as possible otherwise nobody will believe in that coin

[midnightwish]

djm the issue has been addressed.  I'm monitoring the situation and will adjust again as needed.

[djm34]

djm the issue has been addressed.  I'm monitoring the situation and will adjust again as needed.

doesn't look like it is the case, just checked those wallets, they still don't share their staked coin with the masternodes

[Dennahz]

I'm running a MN, don't have any issues, I think. Getting 33 coins per block now (33%), so I assume that's okay?

[myagui]

I'm running a MN, don't have any issues, I think. Getting 33 coins per block now (33%), so I assume that's okay?

The masternodes are working/earning correctly: but as djm34 explained, some of the larger holders, are not paying the masternode fees and instead take 90% of the stake reward for themselves. Masternodes are earning 33% of some stakes, but not earning anything from a bunch of stakes as well.

This problem is twofold, one affecting masternodes, one affecting stakers:
- people running masternodes are not receiving all of their due rewards
- some people are staking with much greater profit than others (almost double)

If this is not a distribution problem, I don't know what is... 

[midnightwish]

I'm running a MN, don't have any issues, I think. Getting 33 coins per block now (33%), so I assume that's okay?

The masternodes are working/earning correctly: but as djm34 explained, some of the larger holders, are not paying the masternode fees and instead take 90% of the stake reward for themselves. Masternodes are earning 33% of some stakes, but not earning anything from a bunch of stakes as well.

This problem is twofold, one affecting masternodes, one affecting stakers:
- people running masternodes are not receiving all of their due rewards
- some people are staking with much greater profit than others (almost double)

If this is not a distribution problem, I don't know what is... 

You don't know what is eh?  Well that much is certainly clear.  You are grossly misrepresenting the issue without fully understanding how masternodes and proof of stake coins work.  Please FUD somewhere else.

[Sir_Astral]

Bigger wallet has bigger weight and bigger chance to stake, no?

[Taiga]

sgminermdt-windows-upd,  ati amd 270,280,290 only hw , please help me.

[badam]

sgminermdt-windows-upd,  ati amd 270,280,290 only hw , please help me.

Official sgminer is not working yet you should wait for a new version later, or you can buy a working one from djm34

[Taiga]

sgminermdt-windows-upd,  ati amd 270,280,290 only hw , please help me.

Official sgminer is not working yet you should wait for a new version later, or you can buy a working one from djm34

that all processors are sitting?

[oldkolobok]

I'm running a MN, don't have any issues, I think. Getting 33 coins per block now (33%), so I assume that's okay?

Nonsense.
midnightwish what does it mean?
According your calculations should be - 12 miners, 6.9 nodes, 2.10 dev. Why 33?