[ANN][STEEM][POW] - NO IPO | NO PREMINE | NO INSTAMINE (relaunch)

[penambang]

just curious, what is your hashrate guys?
I'm not getting any block after 6 hours mining.

My hashrate 11k-12k using AMD phenom 2 x6

[thereverseflash]

just curious, what is your hashrate guys?
I'm not getting any block after 6 hours mining.

My hashrate 11k-12k using AMD phenom 2 x6

At the current difficulty level, 16K HPS takes about 520 minutes (expected time) or 8.6 hours.  On your machine I would expect it to take about 10 hours to solve a block.

[Panadacoin]

Hi it's me again . The little noob that could. 

So at this point I am seeing lots of what looks like hashing going on.  It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block.  So does it sound like it is working?  2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

[Jookly]

Hi it's me again . The little noob that could. 

So at this point I am seeing lots of what looks like hashing going on.  It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block.  So does it sound like it is working?  2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

thanks yeah.  I figured it would take  along time but I am just going to let it go for now.  Would be fun to see a little STEEM show up

[SalimNagamato]

Hi it's me again . The little noob that could. 

So at this point I am seeing lots of what looks like hashing going on.  It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block.  So does it sound like it is working?  2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

thanks yeah.  I figured it would take  along time but I am just going to let it go for now.  Would be fun to see a little STEEM show up

did you find a block yet ?
if it goes to 0 hps and you have only 1 account configured. it means you've found POW block and entering a queue to generate reward blocks
so shouldn't close wallet when this happens
i have VPS mining since launch (2kh/s) already generated 170 coins
do you see your account with cli wallet?

developers of the coin: how to use command withdraw_from_vesting ?

[Jookly]

Hi it's me again . The little noob that could. 

So at this point I am seeing lots of what looks like hashing going on.  It has said pretty steady hashing around 1500 hps and around 2500 minutes estimated time to produce a block.  So does it sound like it is working?  2500 minutes sounds like a long time but do you think if I keep it running I will see a block solved and be put in the que in the next couple days?

I guess I am just looking for some assurance that it is working and that I just need to wait now.

It will take a long time to find much with that amount of hash, unless the devs 100(s) machines go down again. Then you may find some. I stopped mining when I realized how much he was using.

thanks yeah.  I figured it would take  along time but I am just going to let it go for now.  Would be fun to see a little STEEM show up

did you find a block yet ?
if it goes to 0 hps and you have only 1 account configured. it means you've found POW block and entering a queue to generate reward blocks
so shouldn't close wallet when this happens
i have VPS mining since launch (2kh/s) already generated 170 coins
do you see your account with cli wallet?

developers of the coin: how to use command withdraw_from_vesting ?

It looks like I did!  I am still seeing the same ammount of hps but when I just did my list_my_accounts command I now see I have 41 STEEM and 1 VESTS .  How did I get a VEST without explicitly converting to it?  I clearly have a lot to understand still

[SalimNagamato]

yes me too need to understand a lot
never seen a coin mined this way... POW->queue->reward
like the reverseflash said... need to mine with 2 accounts. so POW never stop after first account enters the queue
if have crazy hashrate mine with more than 2

[thereverseflash]

It looks like I did!  I am still seeing the same ammount of hps but when I just did my list_my_accounts command I now see I have 41 STEEM and 1 VESTS .  How did I get a VEST without explicitly converting to it?  I clearly have a lot to understand still

All accounts must have some VESTS without which they could not transact.  So the first time you submit a POW it automatically converts the 1.000 STEEM to VESTS, all subsequent rewards are paid as STEEM.

[Jookly]

It looks like I did!  I am still seeing the same ammount of hps but when I just did my list_my_accounts command I now see I have 41 STEEM and 1 VESTS .  How did I get a VEST without explicitly converting to it?  I clearly have a lot to understand still

All accounts must have some VESTS without which they could not transact.  So the first time you submit a POW it automatically converts the 1.000 STEEM to VESTS, all subsequent rewards are paid as STEEM.

ah cool.  Thanks for the explanation.

[thereverseflash]

I stopped mining when I realized how much he was using...

In other words, you concluded that the price was too high and let us outbid you for the STEEM. 

So I guess the questions that everyone should be asking is:
Why do the devs value STEEM so highly that they would spend thousands of dollars mining their own coin?

The total cost of the hash power spent on STEEM (assuming everyone was paying via EC2) is less than $3000.

Should STEEM have a market cap of less than $3000?   

Even coins such as BBQCoin and others have a market cap north of $50,000 and contain little innovation.   You would have to rank STEEM lower than Vcoin (#309 on CMM) to not mine at these prices.

[Panadacoin]

I stopped mining when I realized how much he was using...

In other words, you concluded that the price was too high and let us outbid you for the STEEM. 

So I guess the questions that everyone should be asking is:
Why do the devs value STEEM so highly that they would spend thousands of dollars mining their own coin?

The total cost of the hash power spent on STEEM (assuming everyone was paying via EC2) is less than $3000.

Should STEEM have a market cap of less than $3000?   

Even coins such as BBQCoin and others have a market cap north of $50,000 and contain little innovation.   You would have to rank STEEM lower than Vcoin (#309 on CMM) to not mine at these prices.

Do you own a small botnet, or are you using work-related computers? I really doubt you are actually paying for all these hashes.

[thereverseflash]

I stopped mining when I realized how much he was using...

In other words, you concluded that the price was too high and let us outbid you for the STEEM.  

So I guess the questions that everyone should be asking is:
Why do the devs value STEEM so highly that they would spend thousands of dollars mining their own coin?

The total cost of the hash power spent on STEEM (assuming everyone was paying via EC2) is less than $3000.

Should STEEM have a market cap of less than $3000?  

Even coins such as BBQCoin and others have a market cap north of $50,000 and contain little innovation.   You would have to rank STEEM lower than Vcoin (#309 on CMM) to not mine at these prices.

Do you own a small botnet, or are you using work-related computers? I really doubt you are actually paying for all these hashes.

We are actually paying for them via Amazon EC2.  A botnet would violate property rights of others.  It is actually cheaper to buy amazon EC2 machines than for me to setup a dozen mac minis I have laying around.  

You can take my word for it (or not).  

[BleedCrypto]

when can we have a windows version compiled?

id like to be able to mine at home

[thereverseflash]

when can we have a windows version compiled?

id like to be able to mine at home

Windows binaries may be available in a couple of weeks unless someone would like to volunteer to build them.

[SalimNagamato]

how to use withdraw_vesting ?
tried: withdraw_vesting "myaccount" "100" true

(edit)

[thereverseflash]

how to use withdraw_vesting ?
tried: withdraw_vesting "myaccount" "100" true

(edit)

This particular wallet API call is being tweaked to make it more friendly.  Will provide instructions in a bit.

[thereverseflash]

Account steemit now has  "vesting_shares": "260554.000000 VESTS"
The network now has       "total_vesting_shares": "336943.000000 VESTS"
The network currently has       401,632.500 STEEM in accounts and/or vesting.
Total Liquid Steem right now:  64,657.000   STEEM  (16% of supply) most of which is held by people on Bitcoin Talk.

Eclipse Crytpo need not worry about us dumping any faster than anyone else. 

[STEEMD]

Account steemit now has  "vesting_shares": "260554.000000 VESTS"
The network now has       "total_vesting_shares": "336943.000000 VESTS"
The network currently has       401,632.500 STEEM in accounts and/or vesting.
Total Liquid Steem right now:  64,657.000   STEEM  (16% of supply) most of which is held by people on Bitcoin Talk.

Eclipse Crytpo need not worry about us dumping any faster than anyone else. 

Based on this data i wont sell my coins less than 0.02 BTC per STEEM 

[thereverseflash]

Account steemit now has  "vesting_shares": "260554.000000 VESTS"
The network now has       "total_vesting_shares": "336943.000000 VESTS"
The network currently has       401,632.500 STEEM in accounts and/or vesting.
Total Liquid Steem right now:  64,657.000   STEEM  (16% of supply) most of which is held by people on Bitcoin Talk.

Eclipse Crytpo need not worry about us dumping any faster than anyone else.  

So you've vested yourselves easy mining for eternity already.

You do realize that no one will take a chance to challenge you on mining on this second "launch" because if you fell behind you could just relaunch again and again. Also, all the free mining you do after delegated mining kicks in can just be dumped.

I'm surprised these bitcointalk idiots can't figure this out. Actually, I'm not surprised.

1. once delegated mining kicks in, all mining rewards are paid as VESTS and not STEEM so no dumping
2. we are not going to vote for ourselves when it comes to delegated mining

Want to try again?

[thereverseflash]

Account steemit now has  "vesting_shares": "260554.000000 VESTS"
The network now has       "total_vesting_shares": "336943.000000 VESTS"
The network currently has       401,632.500 STEEM in accounts and/or vesting.
Total Liquid Steem right now:  64,657.000   STEEM  (16% of supply) most of which is held by people on Bitcoin Talk.

Eclipse Crytpo need not worry about us dumping any faster than anyone else.  

So you've vested yourselves easy mining for eternity already.

You do realize that no one will take a chance to challenge you on mining on this second "launch" because if you fell behind you could just relaunch again and again. Also, all the free mining you do after delegated mining kicks in can just be dumped.

I'm surprised these bitcointalk idiots can't figure this out. Actually, I'm not surprised.

1. once delegated mining kicks in, all mining rewards are paid as VESTS and not STEEM so no dumping
2. we are not going to vote for ourselves when it comes to delegated mining

Want to try again?

1. It doesn't matter because you can withdraw your immense VESTS on schedule and still dump them because you will control all new production.
2. You can't be trusted as shown time and time again. For instance, when you get challenged on mining you re-launch.

There's really nothing about this coin that can be trusted from the way you have acted, and you will control virtually all money supply.

That's a bad combination.

I'll be straight up, we are planning on selling a large amount of our STEEM until our own stake falls to 25% or less.
We also plan to give a way a large amount of our STEEM.  

So I guess you can use the derogatory term "dump" but, hey, isn't that what the majority of miners do with the majority of the coins they mine?

Isn't that what you plan to do with the STEEM you mined?  

So you see, there is a double standard where the developers who have invested heavily in producing something new and unique are the only ones who are not allowed to get paid by selling off the product of their labor while someone like yourself who invested almost nothing to acquire the STEEM you did receive can dump at will.  

The saddest thing of all is that you get to make money by selling the STEEM you have mined and rather than gratitude we get posts full of misinformation and false accusations.  Out of curiosity, how much did you spend on mining STEEM?   How much STEEM do you have?