[ANN] Credits(CRDS): CPU-only mining | Argon2d PoW - Masternodes

[loremipsum]

We chose Argon2D because its CPU-only mineable and GPU resistant. It has been implemented only in Dynamic coin (DYN) but this coin comes with a horrendous premine.

As someone who develop miners, let me state clearly that:
Argon2d is not "CPU-only". I guarantee you GPUs will provide an advantage over CPUs, even if that's only ~5× in terms of perf/$ and perf/watt. I will write a Credits GPU miner if no one else does.

Well, mrb, a lot of people know you here so you don't need to state that you are a mining software developer

Right now though, Argon2d IS CPU-only. The algo also IS gpu-resistant; we didn't say that a GPU miner CANNOT be developed; but it should be difficult and also should not provide much advantage over CPU. Of course, you are welcome to create a GPU miner, but the way Argon2d works, it should not have much advantage over CPU. But you are welcome to prove us wrong!

But that's just my opinion. I will let the original dev -fl0wd3v- give an answer

[fl0wd3v]

Pure PoW, CPU-only solo mining.. so old-school. I love it!
Looks like restarted Darkcoin, driven in a fair way.. I'm in, deffinitely.

By the way - how much coins for a masternode? 1000?

By the way, its CPU 64bit only and you can't mine on Raspberry-Pis or Android/ARM. This should achieve the highest level of decentralisation.

Some more points from fl0wd3v:

- Instead of DGW3 we have the best difficulty retargeting algorithm, DELTA, from Gulden which protects against Multi/Jump mining pools.
- Masternodes in Dash return less and less of a return everyday, with the mapped rewards in Credits(CRDS) for Masternodes increasing, this ensures ROI for Masternode operators throughout the ~36 year coin supply production.
- The Argon2d algorithm, miner files, hash files and block files of the wallet have been optimised by Wolf0 for AVX2 CPUs.
- No DAO or budgeting blocks from launch, this is to eliminate the risk of one party gaining early majority control of the Masternode network, creating proposals, voting and subsequently defrauding the network. DAO functionality can be brought online at a later stage once the Masternode network has grown in size.
- Pivx and Dash have proven a growth “hack” by combining an appreciating asset with a Masternode system. While for PivX and Dash it is increasingly harder to obtain a Masternode with them costing a small fortune, Credits (CRDS) will allow new investors to start early and see massive returns on their investment.

Say what now? You didn't hire me.

Credits(CRDS) is a fork of the Dynamic codebase, which you did work on for Duality.

Also, I stated that GPU miners can be developed, but Argon2d should provide a good mining progression from CPU->GPU. The efficiency mining on a CPU per hash is better than that of GPU. ASIC miners can be forever pushed out of the frame by simply HF'ing for harder parallelism.

[AltsBoom]

A masternode will cost 500crds

[loremipsum]

We are now featured in the-blockchain.com:

http://www.the-blockchain.com/2017/06/12/community-driven-cryptocurrency-credits-announces-first-public-release/

[andrew2k]

Pure PoW, CPU-only solo mining.. so old-school. I love it!
Looks like restarted Darkcoin, driven in a fair way.. I'm in, deffinitely.

By the way - how much coins for a masternode? 1000?

By the way, its CPU 64bit only and you can't mine on Raspberry-Pis or Android/ARM. This should achieve the highest level of decentralisation.

Some more points from fl0wd3v:

- Instead of DGW3 we have the best difficulty retargeting algorithm, DELTA, from Gulden which protects against Multi/Jump mining pools.
- Masternodes in Dash return less and less of a return everyday, with the mapped rewards in Credits(CRDS) for Masternodes increasing, this ensures ROI for Masternode operators throughout the ~36 year coin supply production.
- The Argon2d algorithm, miner files, hash files and block files of the wallet have been optimised by Wolf0 for AVX2 CPUs.
- No DAO or budgeting blocks from launch, this is to eliminate the risk of one party gaining early majority control of the Masternode network, creating proposals, voting and subsequently defrauding the network. DAO functionality can be brought online at a later stage once the Masternode network has grown in size.
- Pivx and Dash have proven a growth “hack” by combining an appreciating asset with a Masternode system. While for PivX and Dash it is increasingly harder to obtain a Masternode with them costing a small fortune, Credits (CRDS) will allow new investors to start early and see massive returns on their investment.

Say what now? You didn't hire me.

Technically it doesn't say that, it's just that you've done some work regarding Argon2d and we're very much thankful for that.

[gerad09]

Whats the price of 1 CRDS just wondering about it

[mrankin]

Whats the price of 1 CRDS?

That will ultimately be decided by the market, but to begin with CRDS won't be listed on any exchanges right away so you'd have to buy them privately. I'm happy with a starting price of 1CRDS = 1BTC.

Once listed on an exchange, fl0wd3v wrote a post here that should help -
https://credits-community.slack.com/archives/C5M5SSJ1G/p1496588029973425

[puvanb]

dude,

Can you add a countdown button for the wallet download?

[primeval]

Credits(CRDS) will be released on June 17th 2017 at 10:00PM UTC

What time is that where I am?

June 17th 2pm - Alaska, USA
June 17th 3pm - California, USA
June 17th 4pm - Salt Lake City, USA
June 17th 5pm - Columbia, USA
June 17th 6pm - New York, USA
June 17th 11pm - United Kingdom
June 17th 12pm - Western/Central Europe
June 18th 1am - Eastern Europe/Russia
June 18th 2.00am - Azerbaijan
June 18th 2.30am - Iran/Middle East
June 18th 3am - Pakistan
June 18th 3.30am - India
June 18th 4am - Bangladesh
June 18th 4.30am - Myanmar(Burma)
June 18th 5am - Thailand/Indonesia/Mongolia
June 18th 6am - China/Phillipines/Australia(Perth)
June 18th 7am - North & South Korea/Japan
June 18th 7.30am - Australia(Darwin)
June 18th 8am - Australia(Canberra)
June 18th 9am - Soloman Islands
June 18th 10am - New Zealand/Australia(Auckland)

I'd request you reconsider the time. That just blacks out most of Asia, where crypto really is rocking right now.

[kamiyama]

Someone complains if you change
I think that it is fine like that

[King Sastro]

Whats the price of 1 CRDS?

That will ultimately be decided by the market, but to begin with CRDS won't be listed on any exchanges right away so you'd have to buy them privately. I'm happy with a starting price of 1CRDS = 1BTC.

Once listed on an exchange, fl0wd3v wrote a post here that should help -
https://credits-community.slack.com/archives/C5M5SSJ1G/p1496588029973425

I hope so 1 CRDS = 1 BTC, and type of coin mining is good for the future, I will save this coin for at least 5 years and are confident the price will hundreds of percent rise from now.

[cypher21]

Whats the price of 1 CRDS?

That will ultimately be decided by the market, but to begin with CRDS won't be listed on any exchanges right away so you'd have to buy them privately. I'm happy with a starting price of 1CRDS = 1BTC.

Once listed on an exchange, fl0wd3v wrote a post here that should help -
https://credits-community.slack.com/archives/C5M5SSJ1G/p1496588029973425

I hope so 1 CRDS = 1 BTC, and type of coin mining is good for the future, I will save this coin for at least 5 years and are confident the price will hundreds of percent rise from now.

CRDS is a very good coin but you dont really think it is 1:1?? But we will see in 3 days. hope it rise to the moon.


what is first exchange?

[Korinu]

Sounds interesting. If need be I can provide the German translation.

[loremipsum]

Whats the price of 1 CRDS?

That will ultimately be decided by the market, but to begin with CRDS won't be listed on any exchanges right away so you'd have to buy them privately. I'm happy with a starting price of 1CRDS = 1BTC.

Once listed on an exchange, fl0wd3v wrote a post here that should help -
https://credits-community.slack.com/archives/C5M5SSJ1G/p1496588029973425

I hope so 1 CRDS = 1 BTC, and type of coin mining is good for the future, I will save this coin for at least 5 years and are confident the price will hundreds of percent rise from now.

CRDS is a very good coin but you dont really think it is 1:1?? But we will see in 3 days. hope it rise to the moon.


what is first exchange?

No-one can predict the price as there is no market yet. But it will definitely not be 1:1, this is completely out of context.

As for exchanges, we are not in a hurry to be listed. Once the network stabilises, we will apply to Bittrex as the first exchange.

[mrb]

Right now though, Argon2d IS CPU-only. The algo also IS gpu-resistant; we didn't say that a GPU miner CANNOT be developed; but it should be difficult and also should not provide much advantage over CPU. Of course, you are welcome to create a GPU miner, but the way Argon2d works, it should not have much advantage over CPU. But you are welcome to prove us wrong!

My beef with your statement is that it is misleading. Your mining code is currently CPU-only, but the algorithm is not. Nothing in Argon2D, not even the 64-bit operations make it "difficult" to implement on GPU. It will be ported to GPU, will provide a significant advantage (even if only 2×, which is significant), and a point in time will come where mining CRDS on CPU will be worthless and everyone will be on GPUs.

Also, I stated that GPU miners can be developed, but Argon2d should provide a good mining progression from CPU->GPU. The efficiency mining on a CPU per hash is better than that of GPU.

No it's not. I guarantee you GPUs will provide higher energy efficiency than CPUs. I know Argon2D.

You guys are making the same mistake as Charlie Lee who thought scrypt would prevent Litecoin GPU mining, because he read some vague claims about scrypt online. The reality is that Argon2D is designed to minimize the advantage of GPUs over CPUs, but the advantage still exists.

[andrew2k]

Right now though, Argon2d IS CPU-only. The algo also IS gpu-resistant; we didn't say that a GPU miner CANNOT be developed; but it should be difficult and also should not provide much advantage over CPU. Of course, you are welcome to create a GPU miner, but the way Argon2d works, it should not have much advantage over CPU. But you are welcome to prove us wrong!

My beef with your statement is that it is misleading. Your mining code is currently CPU-only, but the algorithm is not. Nothing in Argon2D, not even the 64-bit operations make it "difficult" to implement on GPU. It will be ported to GPU, will provide a significant advantage (even if only 2×, which is significant), and a point in time will come where mining CRDS on CPU will be worthless and everyone will be on GPUs.

Also, I stated that GPU miners can be developed, but Argon2d should provide a good mining progression from CPU->GPU. The efficiency mining on a CPU per hash is better than that of GPU.

No it's not. I guarantee you GPUs will provide higher energy efficiency than CPUs. I know Argon2D.

You guys are making the same mistake as Charlie Lee who thought scrypt would prevent Litecoin GPU mining, because he read some vague claims about scrypt online. The reality is that Argon2D is designed to minimize the advantage of GPUs over CPUs, but the advantage still exists.

What's with the hate though? We know that a transition will happen from CPU to GPU and maybe ASIC if Argon2d becomes widely used and the coins using it are profitable.
I guess @fl0wd3v meant to say that probably in the beginning GPUs will be less efficient than CPUs when mining Credits. You do know how at the start Equihash was shit for GPUs but over time it (even if just a few months) it made CPU mining obsolete.

[Samthehero]

Whats the price of 1 CRDS?

That will ultimately be decided by the market, but to begin with CRDS won't be listed on any exchanges right away so you'd have to buy them privately. I'm happy with a starting price of 1CRDS = 1BTC.

Once listed on an exchange, fl0wd3v wrote a post here that should help -
https://credits-community.slack.com/archives/C5M5SSJ1G/p1496588029973425

I hope so 1 CRDS = 1 BTC, and type of coin mining is good for the future, I will save this coin for at least 5 years and are confident the price will hundreds of percent rise from now.

CRDS is a very good coin but you dont really think it is 1:1?? But we will see in 3 days. hope it rise to the moon.


what is first exchange?

No-one can predict the price as there is no market yet. But it will definitely not be 1:1, this is completely out of context.

As for exchanges, we are not in a hurry to be listed. Once the network stabilises, we will apply to Bittrex as the first exchange.

Are you guys high, can I have some 
More probably 1CRDS = 1 satoshi.

[puvanb]

Whats the price of 1 CRDS?

That will ultimately be decided by the market, but to begin with CRDS won't be listed on any exchanges right away so you'd have to buy them privately. I'm happy with a starting price of 1CRDS = 1BTC.

Once listed on an exchange, fl0wd3v wrote a post here that should help -
https://credits-community.slack.com/archives/C5M5SSJ1G/p1496588029973425

I hope so 1 CRDS = 1 BTC, and type of coin mining is good for the future, I will save this coin for at least 5 years and are confident the price will hundreds of percent rise from now.

CRDS is a very good coin but you dont really think it is 1:1?? But we will see in 3 days. hope it rise to the moon.


what is first exchange?

No-one can predict the price as there is no market yet. But it will definitely not be 1:1, this is completely out of context.

As for exchanges, we are not in a hurry to be listed. Once the network stabilises, we will apply to Bittrex as the first exchange.

Are you guys high, can I have some 
More probably 1CRDS = 1 satoshi.

Actually i laughed when i first saw this. 1 crds = 1 btc?? What were you smoking?? You need more than a coin to get the price to the moon e.g community, coin technology features, application and demand from China.

[loremipsum]

Whats the price of 1 CRDS?

That will ultimately be decided by the market, but to begin with CRDS won't be listed on any exchanges right away so you'd have to buy them privately. I'm happy with a starting price of 1CRDS = 1BTC.

Once listed on an exchange, fl0wd3v wrote a post here that should help -
https://credits-community.slack.com/archives/C5M5SSJ1G/p1496588029973425

I hope so 1 CRDS = 1 BTC, and type of coin mining is good for the future, I will save this coin for at least 5 years and are confident the price will hundreds of percent rise from now.

CRDS is a very good coin but you dont really think it is 1:1?? But we will see in 3 days. hope it rise to the moon.


what is first exchange?

No-one can predict the price as there is no market yet. But it will definitely not be 1:1, this is completely out of context.

As for exchanges, we are not in a hurry to be listed. Once the network stabilises, we will apply to Bittrex as the first exchange.

Are you guys high, can I have some  
More probably 1CRDS = 1 satoshi.

This is also out of context.

My estimate is that 1CRDS will be around 0.0001BTC, given the block rewards and the cost of electricity. We ll see

[clu00]

Great choice for Algo guys..