[ANN][CRC] Craftcoin - Portable Minecraft Game Currency w. Economy Plugin

[rovchris]

How many more blocks need to be solved before a difficulty adjustment?

Someone should ask the dude that runs coinchoose to remove it from the list until the difficulty issue is resolved otherwise all that will happen is we will be having the same conversation again at this time tomorrow when it is hammered by all the crypto switching pools - which in my opinion are doing more damage than good for the alt coin community.

Any coin without a quick adjustment just gets blasted into no mans land.

I have to say Fastcoin is very good from that respect. It is continuously near the top and does not suffer from the "coinchoose effect"

[rovchris]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

How will I get paid for it?

I never use mining pools - I only solo mine.

[ahmed_bodi]

ill have a p2pool up in 5 mins if anyones interested, also going to pay some guys to promote it

[dreamwatcher]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

I do not quite understand.

Getting the hash rate up by enticing miners to mine the coin does not help get to the re-target quicker?

The gap between hash rate and difficulty is causing the huge drop in mining. I am trying to get more miners on board to increase the hash rate and get to re-target quicker.

[captainfuture]

there are pools. thats not the problem. with this diff no one wanna mine it. and if u look at coinchoose u will find other coins to mine with more profit.
i like this coin and i believe it has great future, it just needs to be "repaired" for the coinchoose effect  

[Schwede65]

i think the retarget has to be changed after 20 blocks - to have a better/wider calculation the last 50 or 100 blocktimes may have to be choosen to find the new difficulty

to have no problem in the future with that difficulty it may be better to change the diff after every block - regarding the - let me suggest - last 100 blocktimes

[captainfuture]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

I do not quite understand.

Getting the hash rate up by enticing miners to mine the coin does not help get to the re-target quicker?

The gap between hash rate and difficulty is causing the huge drop in mining. I am trying to get more miners on board to increase the hash rate and get to re-target quicker.

i think i have to read more about that pps system.

is everybody mining for himself in this pool and if anyone find a block, all get payed how much the tried to find (shares) ?

[captainfuture]

are the devs working on the problem? what do they wanna change? do they wanna change something?

[rovchris]

He should have a look at the Fastcoin source code - and get some ideas from there.

That coin somehow is always in the top 10 even with violent swings in hashrate.

[captainfuture]

He should have a look at the Fastcoin source code - and get some ideas from there.

That coin somehow is always in the top 10 even with violent swings in hashrate.

yes. or mega

[Schwede65]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

I do not quite understand.

Getting the hash rate up by enticing miners to mine the coin does not help get to the re-target quicker?

The gap between hash rate and difficulty is causing the huge drop in mining. I am trying to get more miners on board to increase the hash rate and get to re-target quicker.

i think i have to read more about that pps system.

is everybody mining for himself in this pool and if anyone find a block, all get payed how much the tried to find (shares) ?

its not interesting for the miner if the pool finds a block - real PPS is paying for the shares - the money for one share depends on the diff - with the risk for the pool operator to find a block or not
the pool has to pay the shares - even it finds no blocks

[dreamwatcher]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

How will I get paid for it?

I never use mining pools - I only solo mine.

A pps pool pays a rate per share based on difficulty and block reward.

A proportional pool takes the block reward from a block that it finds and divides it by the number of shares it took to find the block. Miners are then paid by the number of shares they have in the block.

You set up an account with a pool and part of that registration ( or setup later) is entering the address you want to be paid out to. Most pools let you set an auto threshold where the pool will auto-pay once your account hits a certain level. Most also have a manual payout option, usually for a fee.

[captainfuture]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

I do not quite understand.

Getting the hash rate up by enticing miners to mine the coin does not help get to the re-target quicker?

The gap between hash rate and difficulty is causing the huge drop in mining. I am trying to get more miners on board to increase the hash rate and get to re-target quicker.

i think i have to read more about that pps system.

is everybody mining for himself in this pool and if anyone find a block, all get payed how much the tried to find (shares) ?

its not interesting for the miner if the pool finds a block - real PPS is paying for the shares - the money for one share depends on the diff - with the risk for the pool operator to find a block or not
the pool has to pay the shares - even he found no blocks

so does it help if someone mines for an hour and finds no block? does the pool find the block faster?

[Schwede65]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

I do not quite understand.

Getting the hash rate up by enticing miners to mine the coin does not help get to the re-target quicker?

The gap between hash rate and difficulty is causing the huge drop in mining. I am trying to get more miners on board to increase the hash rate and get to re-target quicker.

i think i have to read more about that pps system.

is everybody mining for himself in this pool and if anyone find a block, all get payed how much the tried to find (shares) ?

its not interesting for the miner if the pool finds a block - real PPS is paying for the shares - the money for one share depends on the diff - with the risk for the pool operator to find a block or not
the pool has to pay the shares - even he found no blocks

so does it help if someone mines for an hour and finds no block? does the pool find the block faster?

yeah - every little share helps to find a block - its much better to have this at a pool though you will end the solo-mining and the shares are blown away - if you havent found a block at that time

[rovchris]

At the same time though - the reason I don't use mining pools is because I end up "stealing" most of the bounty even if I don't solve a block.

Mining pools should restrict access to high hash rate miners as the slower miners don't do so well out of the deal.

The only other person that does well is the pool operator!

[dreamwatcher]

thats fine, but if he hashes an hour and doesnt find a block, he of course will get payed for it, but its useless for getting closer to retarget.

I do not quite understand.

Getting the hash rate up by enticing miners to mine the coin does not help get to the re-target quicker?

The gap between hash rate and difficulty is causing the huge drop in mining. I am trying to get more miners on board to increase the hash rate and get to re-target quicker.

i think i have to read more about that pps system.

is everybody mining for himself in this pool and if anyone find a block, all get payed how much the tried to find (shares) ?

its not interesting for the miner if the pool finds a block - real PPS is paying for the shares - the money for one share depends on the diff - with the risk for the pool operator to find a block or not
the pool has to pay the shares - even he found no blocks

so does it help if someone mines for an hour and finds no block? does the pool find the block faster?

Every addition to the hash rate helps. Weather someone is solo or pooling, if they do not find a block , it make no difference to the network as it is not even aware of the solo or pools mining.

By increasing the hash rate (either way), the chances of finding a block are increased. Think of each share as a lottery ticket. One ticket can win and a person who contributes a single hash can solve the block, but of course the odds are lower then if that same person (miner) bought 1000 tickets.Now this analogy is not entirely accurate as mining  is more like a random moving target, but it gets the general idea across.

The coin network adjusts to try and get a "target time" the time between blocks solved. Difficulty makes it harder (Higher odds) or easier (Lower odds) in an attempt to match hash rate to target time. Right now CRC is caught in a high difficulty (High odds) vs little hash rate (Few lottery tickets being sold).


Further mathematical explanation of the pps system can be seen here:

https://bitcointalk.org/index.php?topic=215642.msg2596495#msg2596495

Though written for the Goldcoin pool, PPS is PPS regardless of the coin mined.


ADDED: Remember that CRC has a 10 CRC block reward, so replace the 500 block reward with 10.

[dreamwatcher]

At the same time though - the reason I don't use mining pools is because I end up "stealing" most of the bounty even if I don't solve a block.

Mining pools should restrict access to high hash rate miners as the slower miners don't do so well out of the deal.

PPS solves that. It fact it benefits low-hash rate miners more.

[rovchris]

At the same time though - the reason I don't use mining pools is because I end up "stealing" most of the bounty even if I don't solve a block.

Mining pools should restrict access to high hash rate miners as the slower miners don't do so well out of the deal.

PPS solves that. It fact it benefits low-hash rate miners more.

You may be right - but my feeling is the pool operator makes the most with PPS.

How many more blocks need to be solved at 1.4 million difficulty? Because this coin is going to die a premature death at this rate.

[ahmed_bodi]

as a pool op myself i can tell you the op is at risk of losing a LOT more with pps especially if its true pps and not round based

[dreamwatcher]

At the same time though - the reason I don't use mining pools is because I end up "stealing" most of the bounty even if I don't solve a block.

Mining pools should restrict access to high hash rate miners as the slower miners don't do so well out of the deal.

PPS solves that. It fact it benefits low-hash rate miners more.

You may be right - but my feeling is the pool operator makes the most with PPS.

How many more blocks need to be solved at 1.4 million difficulty? Because this coin is going to die a premature death at this rate.

Not necessary true. The reason you generally do not see PPS pools with the smaller hash rate coins is that the operator generally loses.

If you go to my pool, (you need to be registered) and look at

http://crc.cryptocoinmine.com/index.php?page=statistics&action=blocks

Or just go to statistics-blocks

The blue line is the break even point. Every block found above that line is a loss to the operator and of course below the line is a gain to the operator.

I am just foolish enough to run PPS with low hash rate coins because I see a future benefit of having more miner rep when/if a coin gets popular enough to make a profit.

Both the CRC and GLD pools have lost me coins so far. One also has to remember the cost involved in running a reliable pool. No shared website hosting stuff, a real VPS is needed.

For the most part it is a thankless endeavor that makes little profit unless one becomes one of the very large pools with popular coin. I just run the pools in the hopes that I can offset some of the costs with cryptocoinexplorer.com which also costs me far more than I have taken in donations from the start.