[ANN] Iridium (IRD) - People are Power - Community build crypto

[rattle99]

I am looking to CPU mine this. Is it viable?

[garytheasshole]

Yeah, especially on newish CPUs with AES instruction set. Ryzen does great, check monerobenchmarks.info/list.php

[Emou]

I am looking to CPU mine this. Is it viable?

I'm mining with CPU. Everything seems okay so far.

[takertrade]

I am getting error with claymore miner:

\Documents\Miners\Claymore.CryptoNote.GPU.Miner.v9.7.Beta.-.POOL>NsGpuCNMiner.exe -o stratum+ssl://pool.mine77.net:3344 -u ir2QEGT3hDN2QoqiVArFvmarC45WMcpNUjBWHSnnx1ZLBVsmSGXfGzJeuAn9dVxzcD5i2j1T2uG2N5Z SDsMcGQr42x8Mm8TnW -p x

╔════════════════════════════════════════════════════════════════╗
║            Claymore CryptoNote GPU Miner  v9.7 Beta            ║
╚════════════════════════════════════════════════════════════════╝
Wrong wallet address ir2QEGT3hDN2QoqiVArFvmarC45WMcpNUjBWHSnnx1ZLBVsmSGXfGzJeuAn9dVxzcD5i2j1T2uG2N5Z SDsMcGQr42x8Mm8TnW - XMR/QCN/BCN/FCN/Duck/Dash/OEC/MCN/ORION addresses are supported only. Use "-allcoins 1" option.
Pool pool.mine77.net removed from the list
No pools specified! Specify at least one pool in "epools.txt" file or in "-o" parameter.

Command I am using is as below:
NsGpuCNMiner.exe -o stratum+ssl://pool.mine77.net:3344 -u ir2QEGT3hDN2QoqiVArFvmarC45WMcpNUjBWHSnnx1ZLBVsmSGXfGzJeuAn9dVxzcD5i2j1T2uG2N5Z SDsMcGQr42x8Mm8TnW -p x

Use this instead:

"NsGpuCNMiner.exe -o stratum+ssl://pool.mine77.net:3344 -u ir2QEGT3hDN2QoqiVArFvmarC45WMcpNUjBWHSnnx1ZLBVsmSGXfGzJeuAn9dVxzcD5i2j1T2uG2N5Z SDsMcGQr42x8Mm8TnW -p x -allcoins 1"

I have already tried allcoins option, again just copied you command to retest, got below error:

Miners\Claymore.CryptoNote.GPU.Miner.v9.7.Beta.-.POOL>NsGpuCNMiner.exe -o stratum+ssl://pool.mine77.net:3344 -u ir2QEGT3hDN2QoqiVArFvmarC45WMcpNUjBWHSnnx1ZLBVsmSGXfGzJeuAn9dVxzcD5i2j1T2uG2N5Z SDsMcGQr42x8Mm8TnW -p x -allcoins 1
UNKNOWN OPTION -allcoins
UNKNOWN OPTION 1

╔════════════════════════════════════════════════════════════════╗
║            Claymore CryptoNote GPU Miner  v9.7 Beta            ║
╚════════════════════════════════════════════════════════════════╝
Wrong wallet address ir2QEGT3hDN2QoqiVArFvmarC45WMcpNUjBWHSnnx1ZLBVsmSGXfGzJeuAn9dVxzcD5i2j1T2uG2N5Z SDsMcGQr42x8Mm8TnW - XMR/QCN/BCN/FCN/Duck/Dash/OEC/MCN/ORION addresses are supported only. Use "-allcoins 1" option.
Pool pool.mine77.net removed from the list
No pools specified! Specify at least one pool in "epools.txt" file or in "-o" parameter.

hi,look the Amd card miner:

http://ird.globalpool.cc 0%fee

Nvidia card guide：
1、download ccminer(https://github.com/tpruvot/ccminer/releases)
2、create .bat file,Example:
ccminer-x64.exe -a cryptonight -o stratum+tcp://111.231.72.116:2435 -u YourWalletAddress -p x
3、run .bat

Amd card miner:
Claymore CryptoNote GPU Miner v9.7 Beta - POOL Catalyst 15.12
https://mega.nz/#F!e4JVEAIJ!l1iF4z10fMyJzY5-LnyC2A

Claymore Miner(AMD Card):

    edit your config.txt
      -o stratum+tcp://111.231.72.116:2435
      -u YourAddress
      -p x
      -allpools 1
    run NsGpuCNMiner.exe

Pool isn't displaying an accurate representation of my hashrate, not even a stable hashrate, even though all my miners are running consistently, with consistent hashrates. Whats up with that?

hi ,i checked hashrates,
1060 6g*6 ,ccminer display 3069.52h/s
our pool display 4k/s
The data will change a little.


[/quote]
http://prntscr.com/gjh04v
Only 270hz on my 1060 3gb why?

[Chetty]

http://prntscr.com/gjh04v
Only 270hz on my 1060 3gb why?
[/quote]
this is quite normal for one 1060, on your printscreen work 3 card 1060

[alamin99]

Hello dev, any plan to make website? Got any domain name?

[unknownspaceship]

Need cloud wallet.
To dev - what is the difference comparing with xmr? Whats your point, target? To make some cash or...?
Any proof of faith from you? Another one coin for fun, or there are real idea or smth?

[iridiumdev]

Hello dev, any plan to make website? Got any domain name?

Website will come after current roadmap development, so I assume it will be after we apply for an exchange, and during the waiting time I will be developing the website.
The domain will probably be something like iridiumproject.io, etc.

Need cloud wallet.
To dev - what is the difference comparing with xmr? Whats your point, target? To make some cash or...?
Any proof of faith from you? Another one coin for fun, or there are real idea or smth?

Main point I'm trying to get across is the decentralized development, with many of the community members contributing towards to final product. Even if you don't have faith in me, there are others invested in the project that will continue to help this communities members, and continue to keep a healthy development cycle.

[unknownspaceship]

Ok, thank you. Will see and try. Already mining when its easy and worth it with my oldfashion 270 and 3570k.

[Kelyen]

I'm in too. Can we have some place to gather ? Slack would be optimal.

[TheKryptonian]

New thread: https://bitcointalk.org/index.php?topic=2166398.0

I posted a valuation analysis in alamin99's sales thread.  Cross-posting here for all to see:

50 sats?  I think that's a heavy undervalue.

Let's look at the potential of Iridium, with citations to my assumptions:

ANN tells us (https://bitcointalk.org/index.php?topic=2150442.0):
-No Premine
-Fair launch
-LOW TOTAL SUPPLY: most of supply emitted in year 1 (18,750,000 of 25,000,000).  This means this will not be a dumpmine coin, because mining rewards will get low soon -> early holders will get massive reward.
-CryptoNote coin

On the downside, roadmap is a little unclear, but this lets us implement a strong comparable: ByteCoin (BCN), another cryptonote coin which has little utility right now (their "ecosystem" is all pools/exchanges, which means they have no real functionality yet, see https://bytecoin.org/ecosystem/).  BCN has a nethash of 4 MH/s (https://minergate.com/blockchain/bcn/blocks) and a market cap of $287 million (https://coinmarketcap.com/currencies/bytecoin-bcn/).

Iridium has a nethash of ~147 KH/s (https://mine77.net/).  Let's discount that to 140 KH/s because it might be volatile right now.  So 140 KH/s out of 4 MH/s is 3.5%.

If we value Iridium at 3.5% of BCN, that's US$10.05 million.  But of course, we must discount for the 3.5 year head-start of BCN.  On March 12 2014, BCN launched (https://bitcointalk.org/index.php?topic=512747.0).  Crypto market cap was US$9.167 billion that day (https://coinmarketcap.com/charts/).  Today, crypto market cap is US$144.134 billion (https://coinmarketcap.com/charts/).  So crypto market cap was only 6.36% of today's market cap on the day BCN launched.

If we apply 6.36% to the US$10.05 million potental for Iridium (to discount it back 3.5 years), we get a US$638,860 market cap estimate for Iridium today, right now, based on current hash (as hash and time increase, value will increase).  The US$638,860 is the value of the current supply already emitted.  Also consider that SIGT (a recent no premine coin), a currency with a roadmap and a plan but no product, has a market cap of US$4 million after less than two months (https://coinmarketcap.com/currencies/signatum/).  So over $600,000 for a new coin with a fair launch and no premine is not out of the ordinary, and very achievable.

Now, current supply is a little hard to figure out because the block sizes are not uniform.  Users are reporting block rewards ranging from the 40s to about 94 (see https://bitcointalk.org/index.php?topic=2150442.msg21584105#msg2158410 and https://bitcointalk.org/index.php?topic=2150442.msg21587151#msg21587151).  If you keep an eye on "Last Reward" at a couple of the pools (https://mine77.net/), you will see the same - block rewards fluctuate from 94 to 60 to something in the 40s.

Let's take a buyer-friendly assumption, and assume all blocks are size 95.  This is buyer-friendly because the more I increase the current Iridium supply in this estimate, the lower the price is.  I am giving a maximum possible supply.

Current blockheight is 4283**.  That suggests a current supply MAX of 4283*95 = 406,885.

Price then is simply US$638,860 estimated current cap divided by 406,885 max current supply = US$1.57 per Iridium.  If we conservatively assume $4200 per bitcoin (price as of writing is $4122) then the satoshis value is 1.57/4200 = .00037380 Bitcoin or 37380 satoshis.

If you want to argue that's too high, by all means do so, but I have given a very conservative estimate of value and even my large overestimate of supply illustrates how small the supply of this coin really is.  So please argue against the math, not some generic notion of why this is too high.  I realize the supply is growing, but so is value in terms of hash and time, and given that more than 50% of blocks seem to have rewards in the 40s (unlike my assumption that all are 95), I have probably already estimated the price at nearly half of what it should be.  If you want to apply a further haircut for risk, by all means do so, but this coin is likely worth over 20k satoshis, and possibly as high as 50k.



**Note: I wrote this like 60 mins ago.  There may be a few more blocks since then, but I have already severely overestimated supply (thus underestimating price), and even another 400 blocks will only affect my calculations by 10%.  Some of the other numbers may have varied a little too, but the Iridium hash is up to 150 KH/s, which is 7% higher than the value in my estimate.  So my estimate is still conservative.

TL;DR: good mathematical basis for estimating value at 37380 sats.  If you want to apply a margin of +- 50% for risk, that still means a value over 20000 sats.  People need to really understand how low the supply is.  Don't sell at 50 sats per Iridium.

Edit: some math fixes.

[Windozxpert]

New thread: https://bitcointalk.org/index.php?topic=2166398.0

I posted a valuation analysis in alamin99's sales thread.  Cross-posting here for all to see:

50 sats?  I think that's a heavy undervalue.

Let's look at the potential of Iridium, with citations to my assumptions:

ANN tells us (https://bitcointalk.org/index.php?topic=2150442.0):
-No Premine
-Fair launch
-LOW TOTAL SUPPLY: most of supply emitted in year 1 (18,750,000 of 25,000,000).  This means this will not be a dumpmine coin, because mining rewards will get low soon -> early holders will get massive reward.
-CryptoNote coin

On the downside, roadmap is a little unclear, but this lets us implement a strong comparable: ByteCoin (BCN), another cryptonote coin which has little utility right now (their "ecosystem" is all pools/exchanges, which means they have no real functionality yet, see https://bytecoin.org/ecosystem/).  BCN has a nethash of 4 MH/s (https://minergate.com/blockchain/bcn/blocks) and a market cap of $287 million (https://coinmarketcap.com/currencies/bytecoin-bcn/).

Iridium has a nethash of ~147 KH/s (https://mine77.net/).  Let's discount that to 140 KH/s because it might be volatile right now.  So 140 KH/s out of 4 MH/s is 3.5%.

If we value Iridium at 3.5% of BCN, that's US$10.05 million.  But of course, we must discount for the 3.5 year head-start of BCN.  On March 12 2014, BCN launched (https://bitcointalk.org/index.php?topic=512747.0).  Crypto market cap was US$9.167 billion that day (https://coinmarketcap.com/charts/).  Today, crypto market cap is US$144.134 billion (https://coinmarketcap.com/charts/).  So crypto market cap was only 6.36% of today's market cap on the day BCN launched.

If we apply 6.36% to the US$10.05 million potental for Iridium (to discount it back 3.5 years), we get a US$638,860 market cap estimate for Iridium today, right now, based on current hash (as hash and time increase, value will increase).  The US$638,860 is the value of the current supply already emitted.  Also consider that SIGT (a recent no premine coin), a currency with a roadmap and a plan but no product, has a market cap of US$4 million after less than two months (https://coinmarketcap.com/currencies/signatum/).  So over $600,000 for a new coin with a fair launch and no premine is not out of the ordinary, and very achievable.

Now, current supply is a little hard to figure out because the block sizes are not uniform.  Users are reporting block rewards ranging from the 40s to about 94 (see https://bitcointalk.org/index.php?topic=2150442.msg21584105#msg2158410 and https://bitcointalk.org/index.php?topic=2150442.msg21587151#msg21587151).  If you keep an eye on "Last Reward" at a couple of the pools (https://mine77.net/), you will see the same - block rewards fluctuate from 94 to 60 to something in the 40s.

Let's take a buyer-friendly assumption, and assume all blocks are size 95.  This is buyer-friendly because the more I increase the current Iridium supply in this estimate, the lower the price is.  I am giving a maximum possible supply.

Current blockheight is 4283**.  That suggests a current supply MAX of 4283*95 = 406,885.

Price then is simply US$638,860 estimated current cap divided by 406,885 max current supply = US$1.57 per Iridium.  If we conservatively assume $4200 per bitcoin (price as of writing is $4122) then the satoshis value is 1.57/4200 = .00037380 Bitcoin or 37380 satoshis.

If you want to argue that's too high, by all means do so, but I have given a very conservative estimate of value and even my large overestimate of supply illustrates how small the supply of this coin really is.  So please argue against the math, not some generic notion of why this is too high.  I realize the supply is growing, but so is value in terms of hash and time, and given that more than 50% of blocks seem to have rewards in the 40s (unlike my assumption that all are 95), I have probably already estimated the price at nearly half of what it should be.  If you want to apply a further haircut for risk, by all means do so, but this coin is likely worth over 20k satoshis, and possibly as high as 50k.



**Note: I wrote this like 60 mins ago.  There may be a few more blocks since then, but I have already severely overestimated supply (thus underestimating price), and even another 400 blocks will only affect my calculations by 10%.  Some of the other numbers may have varied a little too, but the Iridium hash is up to 150 KH/s, which is 7% higher than the value in my estimate.  So my estimate is still conservative.

TL;DR: good mathematical basis for estimating value at 37380 sats.  If you want to apply a margin of +- 50% for risk, that still means a value over 20000 sats.  People need to really understand how low the supply is.  Don't sell at 50 sats per Iridium.

Edit: some math fixes.

lol thank you for posting your answer. This is why he's trying to buy them before they hit the exchanges. He was aiming for 200 sats w/ me. This coin is going to be a good one to get in early on, just like Sig. I was glad I got in on that one in the first 24 hours, I'll be glad I got in on this one as well, just like everyone here... IF THEY DON'T SELL THEM TOO SOON.

[mine77]

BETA BLOCK EXPLORER
https://explorer.mine77.net/

It's very simple (I'm a back-end dev, not a front-end dev!) and still lacks some important functionality like browsing transactions, but I wanted to get out an early version to review for accuracy.

[TheKryptonian]

BETA BLOCK EXPLORER
https://explorer.mine77.net/

It's very simple (I'm a back-end dev, not a front-end dev!) and still lacks some important functionality like browsing transactions, but I wanted to get out an early version to review for accuracy.

Dude awesome!  This:

1) Increases the value of this coin, because CryptoNotes are hard to get explorers up for, and explorers are a big part of valuing coins and getting them listed.

2) Shows my earlier price estimate (US$1.57 per coin or over 37000 satoshis per coin) was a heavy underestimate because I assumed a 140 KH/s hash and 400k+ supply, whereas hash is higher at 155+ (more value) and supply is lower at less than 370k (fewer coins to spread value over).

This coin could be a decent project for many months, and possibly longer with good devs.

[nhatkythangnam]

BETA BLOCK EXPLORER
https://explorer.mine77.net/

It's very simple (I'm a back-end dev, not a front-end dev!) and still lacks some important functionality like browsing transactions, but I wanted to get out an early version to review for accuracy.

thank you so much this is good news ,more choose is better , if you can join dev team is  amazing , i hope you keep working with this project to we have a project successful .

[SyrioForElle]

Iridium has a nethash of ~147 KH/s (https://mine77.net/).  Let's discount that to 140 KH/s because it might be volatile right now.  So 140 KH/s out of 4 MH/s is 3.5%.

If we value Iridium at 3.5% of BCN, that's US$10.05 million.  

One point - I'm seeing Iridium net hashes of 200+ in the pools (for example: http://ird.globalpool.cc/)

So your analysis of US$1.57 per coin or over 37000 satoshis per coin is even more of an underestimate. The true valuation is higher.

[cryptkeeper1979]

Iridium has a nethash of ~147 KH/s (https://mine77.net/).  Let's discount that to 140 KH/s because it might be volatile right now.  So 140 KH/s out of 4 MH/s is 3.5%.

If we value Iridium at 3.5% of BCN, that's US$10.05 million.  

One point - I'm seeing Iridium net hashes of 200+ in the pools (for example: http://ird.globalpool.cc/)

So your analysis of US$1.57 per coin or over 37000 satoshis per coin is even more of an underestimate. The true valuation is higher.

IRD is at least 100,000 Sats or higher.

[fonship]

one pool is showing network hash as 200+K, another is showing 160K, which is correct?

[mine77]

one pool is showing network hash as 200+K, another is showing 160K, which is correct?

The node-cryptonote-pool project computes Network Hash Rate as (difficulty / block_time_target), and uses a constant of "120" baked in to the source code in pages/home.html, which I believe matches the block time target of Monero. Iridium uses a block time target of 175sec, so I believe that the 120 should be changed to 175, making the lower number likely more accurate. That project doesn't really document everything that needs to be changed to port it to another coin.

[alamin99]

Hello dev, any plan to make website? Got any domain name?

Website will come after current roadmap development, so I assume it will be after we apply for an exchange, and during the waiting time I will be developing the website.
The domain will probably be something like iridiumproject.io, etc.

I just bought this domain: http://iridium.cc [Iridium CC = Iridium Crypto/Cryptonight Coin]
If you like this domain, I will give it to you.