LUXCoin—New PHI2 PoW/PoS Hybrid—SC—SegWit—PrivateSend—PoS Web Wallet—LuxGate

[wacko]

Thanks. I'm on Zerg basically mining solo right now with 230 MH/s.

I wouldn't mine this coin solo with only 230 MH/s. General rule of thumb for solo mining unstable altcoins like this one is to be able to solve at least a couple blocks a day. Otherwise you're just playing a lottery, lux has lost 100+% of its btc value within a month, average time to find a block of 5 days is just too much here.. you can go for a week or two without solving anything, and then, two weeks later, the difficulty could get 2 times higher than it was when you started, so your chances of finding anything would get even slimmer.. or the price could fall a lot and by the time you find your first block it's already 2-3 times lower than when you started. Solo mining makes sense for larger farms, it's definitely not something I'd do with 230 MH/s.

[Riptide_NVN]

That makes sense and I do see your point.

I'm trying to minimize frequency of my payouts and the larger pools make that difficult.  I'd like to get paid no more often than twice a day max.  The smaller pools are good for this.

Seems like I'm stuck between small pools with very long block times.  Or dealing with 5-8 payments each day from the larger pools which I don't want either.

[webchris]

That makes sense and I do see your point.

I'm trying to minimize frequency of my payouts and the larger pools make that difficult.  I'd like to get paid no more often than twice a day max.  The smaller pools are good for this.

Seems like I'm stuck between small pools with very long block times.  Or dealing with 5-8 payments each day from the larger pools which I don't want either.

It's a shame you can't set your payout threshold.

[webchris]

LUX team just announced a new reward system for masternodes that let them share in the rewards from mining also.

Read the full announcement here: https://www.luxcore.io/pdf/Upcoming_Changes_Wallet_Release.pdf

We are adding people daily to our shared masternode. Check it out at https://luxmasternode.com or on discord: https://discord.gg/RKsxW8R if you want to participate.

[StoneSoup]

LUX team just announced a new reward system for masternodes that let them share in the rewards from mining also.

Read the full announcement here: https://www.luxcore.io/pdf/Upcoming_Changes_Wallet_Release.pdf

We are adding people daily to our shared masternode. Check it out at https://luxmasternode.com or on discord: https://discord.gg/RKsxW8R if you want to participate.

Wow, this is turning into a shitcoin real fast....lol what a rip. Robbing Peter to pay Paul.

[matey1111]

LUX team just announced a new reward system for masternodes that let them share in the rewards from mining also.

Read the full announcement here: https://www.luxcore.io/pdf/Upcoming_Changes_Wallet_Release.pdf

We are adding people daily to our shared masternode. Check it out at https://luxmasternode.com or on discord: https://discord.gg/RKsxW8R if you want to participate.

PoW Reward : 10 Lux
New Miner Reward from PoW: 8 Lux (previously 10)
New Masternode Payment from PoW: 2 Lux (previously 0)
PoS Reward : 1 Lux
New Stake Reward Payment: 0.8 Lux (Previously 0.6)
New Masternode Payment from PoS: 0.2 (Previously 0.4)


Miners are gonna cry like little babys.

MN's being catered to... I'd be o.k. with this, if there were more MN's and/or the Lux required for MN price was cheaper and more attainable so more than a select few could participate. Group MN's are a danger and I'd never participate in one without legal counsel and contract through all parties concerned. AKA: not a viable option.

I don't agree with having a select few MN holders be rewarded with 20% of the miners take.

Now I agree with other posts... there is now something seriously wrong with this project. Sad to say.

[Riptide_NVN]

For a small miner with a small rig who just started this a month ago and only has a few dozen in the wallet.

The decision is a bummer.  Hurts us the most.

[matey1111]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

[wacko]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

[matey1111]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

IMO, that's probably a poor short term plan, They should grow the community by engaging the masses not a minority, if an "investor" purchases enough LUX for a MN, it will be doubtful they would be buyers as takers, they will be low buyers as makers, as to not create upward market slippage increasing their costs.

Decentralization is key for mining, however MN's are clearly Centralized. Way too much dumping potential in one place to be trusted.
 
Might as well call MN's the LUX Federal reserve.

[air125687]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

I do not see the reasons for new investors, this coin is just one of many. Plus a shitty wallet.
New investors will be attracted if the coin drops to 5 cents for example.  

[lupanar]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

No, first and main goal is make the net more secure by adding bunch POW+MNs to existing POS+MNs, say if one bunch will be down for some reason another will be holding the net, + another goal is make Masternodes more attractive to investors , simple math telling that gain will be more then 1000% for MNs holders. Of course miners get hurts about 20% less income but some part of POW reward get to be sacrificed to please security purposes. On other hand there is increase in POS mining, 0.8 to miners instead 0.6 from every block, so POW losses will be partly compensated by POS gain. Anyway decision was made and it wont be changed.

[StoneSoup]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

No, first and main goal is make the net more secure by adding bunch POW+MNs to existing POS+MNs, say if one bunch will be down for some reason another will be holding the net, + another goal is make Masternodes more attractive to investors , simple math telling that gain will be more then 1000% for MNs holders. Of course miners get hurts about 20% less income but some part of POW reward get to be sacrificed to please security purposes. On other hand there is increase in POS mining, 0.8 to miners instead 0.6 from every block, so POW losses will be partly compensated by POS gain. Anyway decision was made and it wont be changed.

And my decision to walk away from this shit coin won't be changed either. Inflexible dev team is a VERY bad sign. This after very bad FUCKUP with the wallets and suspending of POS.

You take away instead of just add. Already unprofitable to mine and now worse. No thank you, you can keep it and I will mine elsewhere and get better profits. You only care to make very rich people richer and that is a tiny number and you will not support your network better with less people mining. Hope you can survive with only MN.

Maybe better to change name of coin to TightAss Coin?

[matey1111]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

No, first and main goal is make the net more secure by adding bunch POW+MNs to existing POS+MNs, say if one bunch will be down for some reason another will be holding the net, + another goal is make Masternodes more attractive to investors , simple math telling that gain will be more then 1000% for MNs holders. Of course miners get hurts about 20% less income but some part of POW reward get to be sacrificed to please security purposes. On other hand there is increase in POS mining, 0.8 to miners instead 0.6 from every block, so POW losses will be partly compensated by POS gain. Anyway decision was made and it wont be changed.

And my decision to walk away from this shit coin won't be changed either. Inflexible dev team is a VERY bad sign. This after very bad FUCKUP with the wallets and suspending of POS.

You take away instead of just add. Already unprofitable to mine and now worse. No thank you, you can keep it and I will mine elsewhere and get better profits. You only care to make very rich people richer and that is a tiny number and you will not support your network better with less people mining. Hope you can survive with only MN.

Maybe better to change name of coin to TightAss Coin?

But yet your still here along with with Bender...

[matey1111]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

No, first and main goal is make the net more secure by adding bunch POW+MNs to existing POS+MNs, say if one bunch will be down for some reason another will be holding the net, + another goal is make Masternodes more attractive to investors , simple math telling that gain will be more then 1000% for MNs holders. Of course miners get hurts about 20% less income but some part of POW reward get to be sacrificed to please security purposes. On other hand there is increase in POS mining, 0.8 to miners instead 0.6 from every block, so POW losses will be partly compensated by POS gain. Anyway decision was made and it wont be changed.

Your failing on your first goal, you've taken 20% of the miners reward. How is that attractive to POW?! Miners have real world expenses to hardware and electricity and need that 20%, Rich Masternode holders can buy in and sell out in a moments notice breaking even or making profit, if they feel fit to do so. Reducing miners ability to earn and obtain a master node, but increasing the existing MN holders ability to more easily hold more MN's and the ability to dump without hesitation.

There is some seriously shady things seemingly going on behind the scenes here.

"Discord"
lethax - Today at 10:08 PM
yes
4.1.0 and down has 14 masternodes online currently

I can no longer support a coin which will not support its community, but feel that it should cater to  14 major holders, which threatens the smaller community members in profit and volume.

[ninjam]

First sentence in this thread says:

We are happy to answer your questions.

So someone please answer my question here, because when asked on your discord channel I was first ignored and after that I was ridiculed.
My question was about discrepancy between data on block chain explorer and data on one of the pool's website list of found blocks.
When you go here https://chainz.cryptoid.info/lux/ you see "Latest Blocks" for Lux. When you compare "Block Height" and "Extracted by" with block height displayed on the pools you can find out which pool have found certain block. I'm correct about that?
For example when you click on "AltMiner.net" under "Extracted by", next page that opens shows all blocks extracted by this pool. Am I correct?
Its little difficult when under "Extracted by" isn't name of the pool. But comparing number under "Block Height" with corresponding numbers on the pools you can attach name to the address under "Extracted by".
I have done that for unimining pool and everything corresponds, there is nothing less and nothing more when I click on that address under "Extracted by" and new page opens compared to blocks displayed on the pool.

LQH6iofaGnyHSEbBC4HGrd29v8W7BcPwzV - Extraction Statistics

Every block that is found here is also found on the web site for the pool https://www.unimining.net/site/mining.
Also tried for some other pools, my logic seems to be correct.
Until I do that for bsod pool...
When I choose

LKDxGDJq5fF4FohAB8zJH24mDDNHDNtqsE - Extraction Statistics

It shows all the blocks displayed on http://bsod.pw/site/mining for the lux, and some extra blocks which are listed only here but not on the website.
http://i63.tinypic.com/2wf1t3k.jpg
Will someone explain this, please?

[lupanar]

Bid: .00141934 LOL

it was .0032 a couple of weeks ago LOL

BTC was almost half the price at the time LOL, god, your thick

Actually, no. When LUX was 0.003+, it was not "a couple of weeks ago", as he said, but more like a month ago. January 21st to be precise, is when LUX went above 0.003, and January 13th before that. And at that time BTC was $11.5k and $14k respectively. So yeah, LUX price did drop a lot, ~ 2-3 times from the value it had a month ago, and even more than 3 times since 5 weeks ago (at least lux/usd pair). And when something goes down in price by 200% in just a month, people do tend to get angry and frustrated. That's probably why devs are changing the MN payout scheme, hoping to attract new investors that would bring the exchange rate higher than it is right now.

No, first and main goal is make the net more secure by adding bunch POW+MNs to existing POS+MNs, say if one bunch will be down for some reason another will be holding the net, + another goal is make Masternodes more attractive to investors , simple math telling that gain will be more then 1000% for MNs holders. Of course miners get hurts about 20% less income but some part of POW reward get to be sacrificed to please security purposes. On other hand there is increase in POS mining, 0.8 to miners instead 0.6 from every block, so POW losses will be partly compensated by POS gain. Anyway decision was made and it wont be changed.

Your failing on your first goal, you've taken 20% of the miners reward. How is that attractive to POW?! Reducing miners ability to earn and obtain a master node, but increasing the existing MN holders ability to more easily hold more MN's and the ability to dump in a moments notice.

Again, net security is a primary, the goal is setup hybrid POW+MN/POS+MN net that protected from both mining ends, and even with 20% less profit Lux will be attractive enough for miners - some miners will go to mine other coins no doubt but in the same time it will decrease global diff and allow to earn more or less same as before. But again , main purpose is not to hurt miners somehow by giving more reward to MN holders, but protect the chain and all roots/causes are goes from it.

[lupanar]

First sentence in this thread says:

We are happy to answer your questions.

So someone please answer my question here, because when asked on your discord channel I was first ignored and after that I was ridiculed.
My question was about discrepancy between data on block chain explorer and data on one of the pool's website list of found blocks.
When you go here https://chainz.cryptoid.info/lux/ you see "Latest Blocks" for Lux. When you compare "Block Height" and "Extracted by" with block height displayed on the pools you can find out which pool have found certain block. I'm correct about that?
For example when you click on "AltMiner.net" under "Extracted by", next page that opens shows all blocks extracted by this pool. Am I correct?
Its little difficult when under "Extracted by" isn't name of the pool. But comparing number under "Block Height" with corresponding numbers on the pools you can attach name to the address under "Extracted by".
I have done that for unimining pool and everything corresponds, there is nothing less and nothing more when I click on that address under "Extracted by" and new page opens compared to blocks displayed on the pool.

LQH6iofaGnyHSEbBC4HGrd29v8W7BcPwzV - Extraction Statistics

Every block that is found here is also found on the web site for the pool https://www.unimining.net/site/mining.
Also tried for some other pools, my logic seems to be correct.
Until I do that for bsod pool...
When I choose

LKDxGDJq5fF4FohAB8zJH24mDDNHDNtqsE - Extraction Statistics

It shows all the blocks displayed on http://bsod.pw/site/mining for the lux, and some extra blocks which are listed only here but not on the website.

Will someone explain this, please?

Only thing I understood from your post is u want to blocks in explorer should be linked with which pool was found one or another? If so yes, noted, will ask to team about possibility of realization.

Btw new block explorer up and running http://explorer.luxcore.io

[hongvubt]

You are right, Lupanar. Global hashrates decreased, in turn led to lower diff, hence more rewards for miners.

[Ginzink]

You are right, Lupanar. Global hashrates decreased, in turn led to lower diff, hence more rewards for miners.

It is quite easy math. The profit for each miner often stays the same with changes like this as some miners leave.
Im not sure if i agree with how it was done, but still sticking around and mining.

The MN cost is too high in my opinion, but i knew about it before i started so cant really complain. But expressing ones opinion (polite) should always be welcome

How is the new wallet with POS enabled doing?