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ans34
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October 11, 2017, 09:01:20 AM |
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TheKryptonian
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October 11, 2017, 09:01:39 AM |
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I'll give the DEV the benefit of the doubt in terms of "scam", however I can't ignore the fact that this is simply not going to work in it's current form. Regardless of if it was lack of planning, or if it was a scam or malicious act, it's evident that the average joe with a decent GPU simply isn't going to mine anything here. Up until the 1 off lucky block, the 9th guy on the rich list had only mined 0.00000517 LUX in all his mining time. Compare 0.00000517 to the DEV's 3 Million coins (that as described are compounding massively with staking), and you have probably the largest inequality between Miners and DEV I've ever seen. Even if I run my machine for years, I'm going to end up with something like 1 LUX coin. It's just a broken system. As said above, Im not calling the DEV a scammer, but the coin distribution is completely broken here. I'd recommend some sort of relaunch, with perhaps a bonus for the lucky few who got 10 coins in the lucky block as compensation. Yeah this about sums up my concerns. I also don't think anyone's trying to scam and I understand the devs want to be rewarded for their work, but the economics of this coin are completely broken because miners will never earn anything close to what devs hold. Are there successful coins out there where the development team has held 50%+ of the supply for over two years? |
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netil
Member
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Activity: 150
Merit: 12
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October 11, 2017, 09:05:12 AM |
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Tip: distribute 90% of the premain between wallets that have charmed in blocks 0-500.
Awesome! Dev, let's do it!  Dev team, think about it, please This would raise the value of the coin a loot; the dev will probably benefit from it. The 10% he keeps will be wort a lot more than what it will be valued now. I think it's a good suggestion!  |
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uralcryptocoin
Sr. Member
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Activity: 1042
Merit: 328
SIGNATURE CREATION by uralcryptocoin
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October 11, 2017, 09:09:28 AM |
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about 1.44 coins a day with 1060
How you got these results? Now net hashrate about 100 GH/s already! there is 3 minutes per block, so 20 blocks per hour and 480 blocks per day. with 10 LUX per block it give us 4800 coins per day totally so with GTX1060 (11-12 Mh/s max) you would get 12/100000 * 4800 = 0.576 LUX per day |
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. |
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AltMiner.net
Full Member
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Activity: 210
Merit: 100
AltMiner.Net | Low-Fee Pool | 2hr Payout
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October 11, 2017, 09:15:25 AM |
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Sooo - time has settled a bit and we were hard working facing this DDoS. For your information, just let me summarize a bit of technical details: By block 495 we got hit by a DDoS of around 300 MBit/s with around 1 Mio. Packets per second: > Sum 135.587 flows/300s (451 flows/s), 271.176.000 packets/300s (903.920 packets/s), 10,103 GByte/300s (275 MBit/s)
At this point the DDoS trigger of our provider (Thanks for this!) was reached and every further DDoS was blocked immediately. During this short period they flooded us with around 300GB(!!!) of traffic:  We have noticed that the site was very slow during this attack. We are from the beginning running with cloudflare DDoS protection, but we were not able to serve all the miners who switched to altminer. We have added further resources to the webserver and are currently serving around 300.000 concurrent requests to the webserver without any problems. During reconfiguration you had a short downtime on the web only. Looks like our work in the past just counted. Stratum mining was only affected for several seconds, but the server was able to cope with all the load. Thanks for mining with altminer.net! -a phi -o stratum+tcp://eu1.altminer.net:6667 -u WALLET -p c=LUX |
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Neurolicious
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October 11, 2017, 09:15:28 AM |
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about 1.44 coins a day with 1060
How you got these results? Now net hashrate about 100 GH/s already! there is 3 minutes per block, so 20 blocks per hour and 480 blocks per day. with 10 LUX per block it give us 4800 coins per day totally so with GTX1060 (11-12 Mh/s max) you would get 12/100000 * 4800 = 0.576 LUX per day Yeah 1.44 coins a day with 1060 is highly unlikely.. I get similar results or even less per 1080TI |
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Aleksiusha
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October 11, 2017, 09:18:31 AM |
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amazing coin, 1000 buks for sure mb even 1lux=1btc.
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mainconcept
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October 11, 2017, 09:18:50 AM |
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The thing is that the devs are able to dump their 3 mil coins as soon as this coin is added to an exchange.
Compared with that extreme low block reward it's not the best sign.
The party is already over for the average x1 gpu miner like me.
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Lexxxa
Newbie
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Activity: 6
Merit: 0
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October 11, 2017, 09:22:37 AM |
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How you got these results?
Now net hashrate about 100 GH/s already!
there is 3 minutes per block, so 20 blocks per hour and 480 blocks per day. with 10 LUX per block it give us 4800 coins per day totally
so with GTX1060 (11-12 Mh/s max) you would get 12/100000 * 4800 = 0.576 LUX per day
Hmm ... I'm wondering how much the coin is worth, which is so difficult to get at the start? What is its price? |
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Neurolicious
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October 11, 2017, 09:23:15 AM |
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The thing is that the devs are able to dump their 3 mil coins as soon as this coin is added to an exchange.
Compared with that extreme low block reward it's not the best sign.
The party is already over for the average x1 gpu miner like me.
that's the case saddly |
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Mezmon
Member
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Activity: 91
Merit: 10
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October 11, 2017, 09:24:12 AM |
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Tip: distribute 90% of the premain between wallets that have charmed in blocks 0-500.
Awesome! Dev, let's do it! Dev team, think about it, please This would raise the value of the coin a loot; the dev will probably benefit from it. The 10% he keeps will be wort a lot more than what it will be valued now. I think it's a good suggestion! Once everyone really starts understanding how broken then current economics of this coin are due to premine balance compared to POW rewards faith will drop quickly and devs themselves said in discord that community is important. Devs, i would highly recommend you address this suggestion. You'd greatly strengthen the community surrounding the coin if you did. |
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Neurolicious
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October 11, 2017, 09:26:45 AM |
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I'm having 340mh/s and the rewards aren't looking good at all... Only makes sense if LUX price is $2 atleast.
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SunStruck
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October 11, 2017, 09:30:55 AM |
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Great ... , whole night for nothing - yiimp.eu went down and someone else grabbed the 1000 block ......
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H055Y
Full Member
Offline
Activity: 406
Merit: 102
D D D Denarius
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October 11, 2017, 09:36:40 AM |
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Great ... , whole night for nothing - yiimp.eu went down and someone else grabbed the 1000 block ......
I'm glad I woke up just in time to notice that yiimp.eu was getting attacked and could switch to altminer to get that 501 block  |
How about you DYOR on Denarius (D)
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roboshark
Member
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Activity: 109
Merit: 10
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October 11, 2017, 09:37:44 AM |
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This is crazy. A new coin and already 44 pages of messages in this thread.
5% premine= 6 months worth of mining.
Altmine has over 1200 miners producing 74gh/s rate.
No exchance for the coin to be traded on.
everybody should just stop mining and create new coins instead..
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anorganix (OP)
Copper Member
Sr. Member
Offline
Activity: 970
Merit: 287
Per aspera ad astra
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October 11, 2017, 09:37:49 AM |
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I've gathered all pertinent opinions from the last pages and I'll forward them to the team.
Everyone will be informed as soon as we have news.
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I will never send private messages with payment requests for my auctions. I only communicate transparently via the forum (not Telegram, Discord, Skype & others). Please be wary of scammers.
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SunStruck
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October 11, 2017, 09:40:27 AM |
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Great ... , whole night for nothing - yiimp.eu went down and someone else grabbed the 1000 block ......
I'm glad I woke up just in time to notice that yiimp.eu was getting attacked and could switch to altminer to get that 501 block Yea also switched to altminer now ... what an unlucky decision to pick yiimp.eu before heading to bed -_- |
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machamizu
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October 11, 2017, 09:41:28 AM |
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Staking starts from block 501? Is there any information about coinage?
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Children of Gaia
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October 11, 2017, 09:44:28 AM |
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This is crazy. A new coin and already 44 pages of messages in this thread.
5% premine= 6 months worth of mining.
Altmine has over 1200 miners producing 74gh/s rate.
No exchance for the coin to be traded on.
everybody should just stop mining and create new coins instead..
3kk coins = 625 days of mining. |
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y6uBaKa
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October 11, 2017, 09:50:26 AM |
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amazing coin, 1000 buks for sure mb even 1lux=1btc.
5kilosatoshi max |
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