[XPM] [ANN] Primecoin Release - First Scientific Computing Cryptocurrency

[LazyOtto]

.. I'm buying up anything under 0.003.  Anyone stupid enough to sell to me for under that, I'm a happy to take them from you.

Lot of coins available at 0.003 (mcxnow), how much you are going to purchase?

Well now, he implied that he'll buy all available under that price point.

Therefore, happily, if his money is where his mouth is, there is a solid price floor we don't have to worry about falling through.

 

-- edit

And, IIRC, someone else also made pretty much the same statement of "I'll buy everything at or below 0.003.". But I'm not gonna bother going back through the thread to find it.

-- edit 2

Now here is someone establishing a true price floor.
10,000,000.0000    0.00000003    0.3000     

[1701633167]

1701633167

[1701633167]

1701633167

[GSnak]

What are you basing that on? What was the last alt to be worth significantly more 3 months out than when it first hit an exchange?

PPCoin jumps to mind

Well that's not very hopeful.

Also, PPC hit BTCe at .0034 and it's now .0016. Perhaps XPM won't be another YAC... ... ....

And, IIRC, someone else also made pretty much the same statement of "I'll buy everything at or below 0.003.". But I'm not gonna bother going back through the thread to find it.

Well it just nosedived to .0021 so I guess they both ran out of money.

[ivanlabrie]

Does anyone know what to launch the wallet with so it automatically starts mining? In windows.

I have my mining rigs set to reboot every 6 hours and want to set the primecoin wallet to auto start.

like.  "D:\Program Files (x86)\Primecoin\primecoin-qt.exe" -something?

Or can i make a bat to do it?

You need to create a primecoin.conf file in the %appdata%/primecoin folder.
Edit it and write a line that says gen=1 to automine on start.
Then use the start with windows option in the wallet itself.

[LazyOtto]

<lol>

Well, that was a pretty quick crash.

At or below 0.002 on all three exchanges now.

I hope all y'all with a monthly commitment to pay for VM's have made your nut by now. 

[GSnak]

<lol>

Well, that was a pretty quick crash.

At or below 0.002 on all three exchanges now.

I hope all y'all with a monthly commitment to pay for VM's have made your nut by now.  

I'd like to thank those who bought most of mine at .00722. I salute thee.

[LazyOtto]

I'd like to thank those who bought most of mine at .00722. I salute thee.

Atta-boy, GSnak, that's the way to do it.

[blastbob]

<lol>

Well, that was a pretty quick crash.

At or below 0.002 on all three exchanges now.

I hope all y'all with a monthly commitment to pay for VM's have made your nut by now. 

EC2 is per hour, no worries

[LazyOtto]

And that's my point with:
https://bitcointalk.org/index.php?topic=251850.msg2724186#msg2724186

[RustyShackleford1950]

<lol>

Well, that was a pretty quick crash.

At or below 0.002 on all three exchanges now.

I hope all y'all with a monthly commitment to pay for VM's have made your nut by now. 

About 10,000 XPM was dumped just like that.

[markm]

And that's my point with:
https://bitcointalk.org/index.php?topic=251850.msg2724186#msg2724186

Which is why one grabs the dirt cheap low difficulty coins and holds them until the difficulty increases thus raising that ceiling.

(Also known as hold until the botnets get up and running?)

-MarkM-

[LazyOtto]

And that's my point with:
https://bitcointalk.org/index.php?topic=251850.msg2724186#msg2724186

Which is why one grabs the dirt cheap low difficulty coins and holds them until the difficulty increases thus raising that ceiling.

(Also known as hold until the botnets get up and running?)

-MarkM-

Yep. I think you nailed it as a strategy.

Of course, it still remains to be seen whether there will be a demand, buyers, longer term after the 'IPO' speculators.

[darkstone1337]

Long term, I can see this doing well 

Yes the price is going to tank initially due to people dumping their coins to make a quick buck. From there we'll see the value increase as difficulty increases.
I'm hopeful that perhaps in a few weeks we will see the price soar up to 0.1BTC level and beyond, let's see if I'm right.

[LazyOtto]

From there we'll see the value increase as difficulty increases.

Not unless there is a demand.

Not unless people will pay for them for speculative purposes or so they can <do something> with them.

Difficulty does not in and of itself drive price.

[bitrich]

So im running an i5 at 2.8ghz on win7 64. I got my first block with the first release running 5-30 pps in 2 hours. I have been updating to the newest release everyday and now am running 1750-2000 pps. Haven't found a block since first release install 3 days ago. I have been running "setgenerate true -1" since day one. I read here that first indications are, more threads are not necessarily good so I have been experimenting with 4 threads and most recently 8 threads by just changing "-1" to "4" or "8". Anybody have an opinion on threads? Should I just run the max or what? Just curious if anyone has tested for any amount of time? Best number of threads to run? Any other tips?

[LazyOtto]

bitrich, difficulty is now about 30 fold higher than it was first day.

So, if it took you one day to get a block on day one, it could take you thirty days to get another.

+/- depending on Luck.

-- edit

This is Solo Mining.

A lot different than mining in a pool.

[bitrich]

yes but I also increased my ppm from 5-30pps on day one to around 2000pps now...any idea on best # on threads to run on my system?

[LazyOtto]

Don't run more threads than your architecture can natively support.

I have an 8 core xeon (dual quad-core) without hyper-threading capability. Therefore, the best I can do is "setgenerate true 8" or "setgenerate true -1". And I've generally run at 7 (or 6 if I want to watch NetFlix) since this is not a dedicated mining system.

Others might comment on their experience with newer CPUs with hyper-threading.

[LazyOtto]

<lol>

Well, that was a pretty quick crash.

At or below 0.002 on all three exchanges now.

I hope all y'all with a monthly commitment to pay for VM's have made your nut by now. 

Yes, I'm quoting myself. 

Looks like a price floor is building back up at around 0.0021 to 0.0025. Not thick yet, but it is building instead of collapsing.

This won't be the last crash / opportunity to pick 'em up for cheap, folks.

Data will be much better after a month into the game.

[itod]

<lol>

Well, that was a pretty quick crash.

At or below 0.002 on all three exchanges now.

I hope all y'all with a monthly commitment to pay for VM's have made your nut by now.  

Yes, I'm quoting myself.  

Looks like a price floor is building back up at around 0.0021 to 0.0025. Not thick yet, but it is building instead of collapsing.

This won't be the last crash / opportunity to pick 'em up for cheap, folks.

Data will be much better after a month into the game.

Otto, since you are so good at predicting things (seriously), riddle me this:

1) Suppose (just suppose for the sake of the argument) that GPU client arrives, making it possible to hit 10x-100x more blocks on the home machine and instantly stopping cloud primecoin mining - What would happen in the terms of the XPM/BTC price?

2) Suppose that arrival is not sudden, but gradually and secretly introduced by the coder, again rendering cloud mining unprofitable - how would it be detectable on the XPM/BTC graph chart?

[Moebius327]

<lol>

Well, that was a pretty quick crash.

At or below 0.002 on all three exchanges now.

I hope all y'all with a monthly commitment to pay for VM's have made your nut by now. 

Yes, I'm quoting myself. 

Looks like a price floor is building back up at around 0.0021 to 0.0025. Not thick yet, but it is building instead of collapsing.

This won't be the last crash / opportunity to pick 'em up for cheap, folks.

Data will be much better after a month into the game.

Second this. Already got some