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Author Topic: 👑[ANN][BIS]Bismuth - On/off-chain, IoT, Scaling, Tokens, Privacy, Governance  (Read 144501 times)
EggdraSyl
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March 28, 2018, 11:00:45 AM
Merited by uki (2), gawlea (2)
 #2021

Hi,

Owner of EggPool Here.
I'm not used to talk or watch over here, but you'll find me at bismuth's slack and discord.

Since I see some questions about the pool fees, let me give some perspective on the why.

When I launched the pool and the gpu miner, Bismuth was being raped by a few private solo gpu miners.
I spent a month coding a pool and miner from scratch. really from scratch, all of it.
It's not some clone like other coins, where you drop some files on a vps and use an existing miner.
All is custom, from scratch.

Why such fees?
- because I'm dedicated 24/7 to this project, Bismuth and Eggpool
- because the fees cover the pool, but also the miner. It could be 5% pool + 5% miner fees.
- I do a spent a huge amount of time supporting users. Join slack or discord, you'll have answers. You won't have to run after me for days.
- superior infrastructure: it's not some cheap vps. I do run several Bismuth nodes, supporting the net with stable nodes, and I have designed a distributed pool architecture, with a central dashboard. I operate from several dedicated servers, in different parts of the world. A pool can crash or be under maintenance, you continue to mine. Check for historical pool downtime, you won't find. I did plan for long term reliable operations, not some quick cash.
- R&D. Lots of R&D goes into the miner. It's far superior to the open source solo miner. Lately, I sold some bis, I have to admit, so I could buy a 1080Ti for tuning purposes. Before that I bought an AMD Gpu so I could do specific optis for AMDs.
- Look, last update of the miner alone gave the miners +15 to +20% more hashrate. So, even with the 10% fees deducted, miners still get 5% more!!!!

I could have lowered to 5% fees, let the miner as it was, and everyone would have lost.
I'm really trying my best, both for bismuth - not all pools or solo miners are dev team friendly - and you miners: support and updating miner, reliable distributed pool, so everyone can win more. I don't do this as a side project, I'm heavily involved.

Don't look at what fees I "take", it's of no use: you do have the choice to pick another pool or mine solo, or dev your own pool and miner. I did it, you can too!
(See, I even help wanna be bismuth pools for the technical side)
If you mine on Egg, it's because you get more (even with the fees deducted) than you would the other way.

In the end, YOU get more. Isn't that what counts?

And moreover, you're supporting a dev friendly pool, that helps and stabilize the bismuth network long term.

If I dropped my fees today, that would only mean less support, less dev, a higher netdiff maybe, and a few more coins dumped by the miners. Would that really help?


https://EggPool.Net - Reliable BIS GPU Mining Pool  -  Did you get your https://Dragginator.Com Egg yet?
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gawlea
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March 28, 2018, 11:00:56 AM
 #2022

Why is the max supply of BIS so big? 110M
Is the the difference between max and total burned coins or is BIS really going to have  110M supply?

110M is not "so big", there are many coins with billions in circulation, when you have a low supply the price will bounce very hard as price and also decentralization will be a weak point when you have a low supply coin. We think 110M is a sweet spot supply for any project out there.

The difference is the total coins that will ever exist including the dev rewards and the max supply are the coins that can ever be mined.

Anyway this will happen in a very long time as the block reward is decreasing linearly over time from 15 to 0 in 10M blocks which at the current rate of 1 block every minute is ~19 years.
ox1337
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March 28, 2018, 11:39:20 AM
 #2023

Why is the max supply of BIS so big? 110M
Is the the difference between max and total burned coins or is BIS really going to have  110M supply?

110M is not "so big", there are many coins with billions in circulation, when you have a low supply the price will bounce very hard as price and also decentralization will be a weak point when you have a low supply coin. We think 110M is a sweet spot supply for any project out there.

The difference is the total coins that will ever exist including the dev rewards and the max supply are the coins that can ever be mined.

Anyway this will happen in a very long time as the block reward is decreasing linearly over time from 15 to 0 in 10M blocks which at the current rate of 1 block every minute is ~19 years.

I am aware it is not a big supply, was just wondering whether it was a CMC bug or the real specs of the coins.

At that rate it is not a big deal at all.

thanks!
fonship
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March 28, 2018, 12:12:04 PM
 #2024

Hi,

Owner of EggPool Here.
I'm not used to talk or watch over here, but you'll find me at bismuth's slack and discord.

Since I see some questions about the pool fees, let me give some perspective on the why.

When I launched the pool and the gpu miner, Bismuth was being raped by a few private solo gpu miners.
I spent a month coding a pool and miner from scratch. really from scratch, all of it.
It's not some clone like other coins, where you drop some files on a vps and use an existing miner.
All is custom, from scratch.

Why such fees?
- because I'm dedicated 24/7 to this project, Bismuth and Eggpool
- because the fees cover the pool, but also the miner. It could be 5% pool + 5% miner fees.
- I do a spent a huge amount of time supporting users. Join slack or discord, you'll have answers. You won't have to run after me for days.
- superior infrastructure: it's not some cheap vps. I do run several Bismuth nodes, supporting the net with stable nodes, and I have designed a distributed pool architecture, with a central dashboard. I operate from several dedicated servers, in different parts of the world. A pool can crash or be under maintenance, you continue to mine. Check for historical pool downtime, you won't find. I did plan for long term reliable operations, not some quick cash.
- R&D. Lots of R&D goes into the miner. It's far superior to the open source solo miner. Lately, I sold some bis, I have to admit, so I could buy a 1080Ti for tuning purposes. Before that I bought an AMD Gpu so I could do specific optis for AMDs.
- Look, last update of the miner alone gave the miners +15 to +20% more hashrate. So, even with the 10% fees deducted, miners still get 5% more!!!!

I could have lowered to 5% fees, let the miner as it was, and everyone would have lost.
I'm really trying my best, both for bismuth - not all pools or solo miners are dev team friendly - and you miners: support and updating miner, reliable distributed pool, so everyone can win more. I don't do this as a side project, I'm heavily involved.

Don't look at what fees I "take", it's of no use: you do have the choice to pick another pool or mine solo, or dev your own pool and miner. I did it, you can too!
(See, I even help wanna be bismuth pools for the technical side)
If you mine on Egg, it's because you get more (even with the fees deducted) than you would the other way.

In the end, YOU get more. Isn't that what counts?

And moreover, you're supporting a dev friendly pool, that helps and stabilize the bismuth network long term.

If I dropped my fees today, that would only mean less support, less dev, a higher netdiff maybe, and a few more coins dumped by the miners. Would that really help?



Thank you for a detailed, balanced response. I can say that yes latest miner code improved hash by 10-15% on AMD.
And I also know you have been very active and actively contributing.
Thats true that it all matters is how much miners earn.
Also I agree that kind of facility you give attached with a cost and valuable time.
I think I am ok with level of effort you are putting in provide a good service and also contributing in development of project.

Since your number of coins will not change much, so I expect when BIS cross $20-$30, you would consider lowering fee.

fonship
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March 28, 2018, 12:16:18 PM
 #2025

Looking for more details about below tweet from BismuthDev tweet handle:
======
Masternode layer is now planned to run on an independent PoS chain, rewards to be paid in standard BIS. New features in consideration: ecdsa, byte-level operations, blake2b, operational database column. Nothing final yet.
======

Could you please dumb it down and take some time to explain, what this change is, what is thought behind it. Also, what will be this PoS independent change and if it will not be linked to the main chain, will we will have the same BIS coin on both chains? How will two independent chains work or PoW will end when PoS starts?
Also, these new features will come to which chain, what each change will bring value to BIS.

gawlea
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March 28, 2018, 12:24:42 PM
 #2026

Why is the max supply of BIS so big? 110M
Is the the difference between max and total burned coins or is BIS really going to have  110M supply?

110M is not "so big", there are many coins with billions in circulation, when you have a low supply the price will bounce very hard as price and also decentralization will be a weak point when you have a low supply coin. We think 110M is a sweet spot supply for any project out there.

The difference is the total coins that will ever exist including the dev rewards and the max supply are the coins that can ever be mined.

Anyway this will happen in a very long time as the block reward is decreasing linearly over time from 15 to 0 in 10M blocks which at the current rate of 1 block every minute is ~19 years.

I am aware it is not a big supply, was just wondering whether it was a CMC bug or the real specs of the coins.

At that rate it is not a big deal at all.

thanks!

"Total supply" from coinmarketcap are the coins in existence (mined coins + dev reward fund (which is locked)) at this moment.
Most welcome!
EggdraSyl
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Bismuth core dev & EggPool.net Operator.


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March 28, 2018, 01:00:04 PM
Merited by maccaspacca (10), uki (2), gawlea (2)
 #2027

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.

https://EggPool.Net - Reliable BIS GPU Mining Pool  -  Did you get your https://Dragginator.Com Egg yet?
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March 28, 2018, 02:32:44 PM
 #2028

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.

Thank you for detailing on this.
It is always exciting to know such things in detail.
Surely its early stage and i am ready to wait for this to take shape.

gawlea
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March 28, 2018, 05:26:42 PM
 #2029

--------------------------------------------------------------------------

Don't forget about our 1200 $BIS Giveaway, only 3 days left!

https://gleam.io/competitions/fjZja-1200-bis-giveaway-3rd-edition-

Good luck!

----------------------------------------------------------------------------
Relaxedsense
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March 29, 2018, 06:53:28 AM
 #2030

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.

Thanks for the update
Piston Honda
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March 29, 2018, 02:38:31 PM
 #2031

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.

Thanks for the update

i just heard this MN news, awesome stuff!!!

see you on the moon, no wait mars, no wait uranus, no wait andromeda!

www.dlsag.com ~ 1ex.trade
tvt.io
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March 30, 2018, 12:09:47 AM
 #2032

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.

Thanks for the update

i just heard this MN news, awesome stuff!!!

see you on the moon, no wait mars, no wait uranus, no wait andromeda!

see you on the moon

tvt.io (http://tvt.io)
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March 30, 2018, 03:54:51 AM
 #2033

This project Bismuth is holding not too bad comparing to other also good projects. Hopefully Bismuth will outperform the market.
motienvolam
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March 30, 2018, 04:26:11 AM
 #2034

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.
More than excited!
I am waiting for your paper documents about Bismuth masternodes set up procedure.
Will we have hybrid network, which run simultaneously PoW and PoS, or only PoS after MN activated in the Bismuth network?
And testing procedure should be implemented as careful as possible to find out as many bugs as possible and fix them completely in order to make sure that Bismuth network will be healthy after upgraded.
Thanks for all your information in the future.
HCLivess
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March 30, 2018, 07:04:10 AM
 #2035

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.
More than excited!
I am waiting for your paper documents about Bismuth masternodes set up procedure.
Will we have hybrid network, which run simultaneously PoW and PoS, or only PoS after MN activated in the Bismuth network?
And testing procedure should be implemented as careful as possible to find out as many bugs as possible and fix them completely in order to make sure that Bismuth network will be healthy after upgraded.
Thanks for all your information in the future.

Hybrid is not a precise term, there would be two chains, running independently - one with metrics (PoS) and one with BIS (PoW)

Bismuth - New Language, Interpretation Engines, Free Set of DAPPs https://bitcointalk.org/index.php?topic=1896497
Bitrated user: HCLivess.
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March 30, 2018, 07:07:37 AM
 #2036

Hi, here (https://bitcointalk.org/index.php?topic=2722806.msg27862959#msg27862959) are the signature design, but note that we don't have a signature campaign undergoing, yet.
Amazing! Thank you for the link you shared. I wish Bismuth project will open its signature campaign sooner or later this year. We actually need signature campaign to spread information, current progresses and future potential projects, services out to more and more potential investors. I believe that signature campaign will help to increase Bismuth liquidity generally.

I believe that signature campaign will help to increase Bismuth liquidity generally.

Incorrect. Signature campaigns do nothing but attract bottom feeding bounty scrubs who then take over the thread whining that they haven't received their 15 cents pay from the dev. BIS needs real marketing, not signature scrub marketing on shitcointalk.

Monero proves otherwise though

Bismuth - New Language, Interpretation Engines, Free Set of DAPPs https://bitcointalk.org/index.php?topic=1896497
Bitrated user: HCLivess.
Anton007
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March 30, 2018, 09:18:43 PM
 #2037

Did any of the dev team reach out to Bittrex after their POW request?

gawlea
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March 31, 2018, 03:25:13 AM
 #2038


Hi everyone!

Be sure to update your wallets before block 580000

https://github.com/hclivess/Bismuth/releases/tag/4.2.3.7

Thank you!
Anton007
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March 31, 2018, 05:47:20 AM
 #2039

Did any of the dev team reach out to Bittrex after their POW request?



So thats a no.
Thx
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March 31, 2018, 06:53:09 AM
 #2040


Hi everyone!

Be sure to update your wallets before block 580000

https://github.com/hclivess/Bismuth/releases/tag/4.2.3.7

Thank you!


Hi!

How do I update my linux wallet? just overwrite it?


regards ;-)
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