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

[markm]

It looks more like a new Novacoin, amazingly high price and no use

But no massive ponzi-level "interest" on one's balance...

(Is NoVaCoin the only one so far that massively raised the "interest rate" to make proof of stake "more interesting" and also, probably not incidentally, more promoting of an "upper class" whose stake makes more stake extra-fast so as to make sure they are all way way up there before the unwashed masses come aboard?)

-MarkM-


EDIT: is there anyone who imagines NoVaCoin isn't going to turn down that ponzi-level interest rate once its upper class old boy's club has multipled their stake, so the unwashed who come aboard later won't get such rates? It is the whole centrally managed gang of crooks in charge of the money supply all over again...

[forsetifox]

Holly hell. XPM hit 0.015 on mcxnow.

 

[FiiNALiZE]

Holly hell. XPM hit 0.015 on mcxnow.

 

It reached 0.019 on mcxnow

[Sunny King]

I am so happy at the acknowledgement of primecoin in the market.

Primecoin is hugging its elder brother ppcoin now at #5 in market cap ranking, only 11th day of its release

[RustyShackleford1950]

I am so happy at the acknowledgement of primecoin in the market.

Primecoin is hugging its elder brother ppcoin now at #5 in market cap ranking, only 11th day of its release

Is there any way of analysing the current "priming" power of the network?

[hl5460]

I am so happy at the acknowledgement of primecoin in the market.

Primecoin is hugging its elder brother ppcoin now at #5 in market cap ranking, only 11th day of its release

Soon it will overtake PPC and NMC.

[Luckybit]

A high rise in price like what is happening now won't be good for the coin. Its going to pop very soon.

How is it going to pop when there isn't anyone to dump it? Also the scarcity is going to rise anyway due to lowering rewards. It's a good time to buy XPM for the time it hits 0.05. You were warned.

[Luckybit]

I am so happy at the acknowledgement of primecoin in the market.

Primecoin is hugging its elder brother ppcoin now at #5 in market cap ranking, only 11th day of its release

All I can say is you did an excellent job. The difficulty algorithm works better than intended. This coin has a chance and I'm glad I got in early because I could see each XPM being worth 0.1 BTC soon.

Any chance of getting people to use XPM as a currency or is it more a store of value like Bitbar?

[craslovell]

I am so happy at the acknowledgement of primecoin in the market.

Primecoin is hugging its elder brother ppcoin now at #5 in market cap ranking, only 11th day of its release

+1 you did an excellent job. ppcoin deservers plenty of love too though! 

[notme]

So how do we estimate mining proceeds from our primes/second?

[Gliss]

I am so happy at the acknowledgement of primecoin in the market.

Primecoin is hugging its elder brother ppcoin now at #5 in market cap ranking, only 11th day of its release

Congrats, Sunny!   

[#Darren]

Very odd....

When I got up today both my Primecoin wallets were not connected, it appears the internet connection went down.  So I reconnected them.

When I first observed offline wallet #1 this morning it showed a total of 102.?? xpm which was strange because the accepted coins seemed no different than when I went to bed but at that time the total was 85.?? + immature 12.??  which when matured would give me 98.??    And my last coin batch had been received on the 17 July.

I turned off the wallet and reconnected the internet.  When I restarted the wallet it reverted to displaying what I recall it had shown the night before, with 85.60 xpm + immature 12.45, however it now showed a immature coin batch as received on 18th July (not there before), and it still showed a SINGLE coin batch as received on the 17th (but with a different timestamp to before).   All other coins received dates and times seem not to have changed.  In order to make the totals add up it is as if an older mined coin batch has disappeared but that would not add up with the total approx xpm due to diff bounty sizes and I have had no bad coins.

I understand there were some date stamp issues occurring, but still this doesn't make any sense at all...

All thoughts welcomed!




------------





Hmm..  I've rethought this...

maybe there were 2 payments on the 16th (although I'd only remembered there being one) and one of the 16th payments has been restamped as the 17th and the 17th payment has been restamped as the 18th, although having said that all other previous payments are still showing original date/time stamps.  Would that be possible?

Also, doesn't explain the 102.?? xpm total that was showing.


(using hp4)

[Luckybit]

Intermittent reinforcement is illegal as a pay method in some jurisdictions, and even illegal in the form of slot machines (aka gambling) in some jurisdictions, because it is pretty much the best reinforcement schedule to use when you want to wean the workers out of being paid without having them quit...

Yes think Twitter. And yes it is the best reward mechanism. I will propose Netcoin adopt this mechanism now that it is a proven success with the Primecoin case study.

[Sunny King]

All I can say is you did an excellent job. The difficulty algorithm works better than intended. This coin has a chance and I'm glad I got in early because I could see each XPM being worth 0.1 BTC soon.

Any chance of getting people to use XPM as a currency or is it more a store of value like Bitbar?

XPM is not designed to excel at store-of-value, I have described in the design paper, PPC should be somewhat better as store-of-value, because ppcoin doesn't have the burden of energy consumption with it. Instead XPM inflation rate drops slower and would be able to sustain a vibrant mining market and high level of network security.

Of course it's all relative as people may think the cap scarcity model of bitcoin is still better as store-of-value, but in my opinion it's going to hurt bitcoin in the long run.

Although if primechain is solved theorectically/algorithmically that we could easily search for length-30 chains then yes XPM would excel at store-of-value much better, however that's extremely unlikely to happen.

[Sunny King]

Very odd....

When I got up today both my Primecoin wallets were not connected, it appears the internet connection went down.  So I reconnected them.

When I first observed offline wallet #1 this morning it showed a total of 102.?? xpm which was strange because the accepted coins seemed no different than when I went to bed but at that time the total was 85.?? + immature 12.??  which when matured would give me 98.??    And my last coin batch had been received on the 17 July.

I turned off the wallet and reconnected the internet.  When I restarted the wallet it reverted to displaying what I recall it had shown the night before, with 85.60 xpm + immature 12.45, however it now showed a immature coin batch as received on 18th July (not there before), and it still showed a SINGLE coin batch as received on the 17th (but with a different timestamp to before).   All other coins received dates and times seem not to have changed.  In order to make the totals add up it is as if an older mined coin batch has disappeared but that would not add up with the total approx xpm due to diff bounty sizes and I have had no bad coins.

I understand there were some date stamp issues occurring, but still this doesn't make any sense at all...

All thoughts welcomed!

------------

Hmm..  I've rethought this...

maybe there were 2 payments on the 16th (although I'd only remembered there being one) and one of the 16th payments has been restamped as the 17th and the 17th payment has been restamped as the 18th, although having said that all other previous payments are still showing original date/time stamps.  Would that be possible?

Also, doesn't explain the 102.?? xpm total that was showing.


(using hp4)

Try 'listtransactions' on debug window/console, and compare to the transaction overview page, check to see any discrepancies and report here.

[#Darren]

Try 'listtransactions' on debug window/console, and compare to the transaction overview page, check to see any discrepancies and report here.

Thanks, I tried looking at that but not sure what exactly  to look for.  What should I be looking for?

[cryptrol]

I have imported the privatekey for a couple of wallets that have immature blocks on them, after importing the privatekey to another wallet, I don't see the immature blocks in the new wallet. Is this the expected behaviour ? Will they appear after the 3200 confirmations ?

[Sunny King]

Try 'listtransactions' on debug window/console, and compare to the transaction overview page, check to see any discrepancies and report here.

Thanks, I tried looking at that but not sure what exactly  to look for.  What should I be looking for?

Immature coins can turn out to be orphaned. I think in transaction overview page orphaned transaction is show with a question mark. In listtransactions you can also see any orphaned transaction. Those are normal. Only if you are sure that transaction book is somehow corrupted that would be a problem.

[Sunny King]

I have imported the privatekey for a couple of wallets that have immature blocks on them, after importing the privatekey to another wallet, I don't see the immature blocks in the new wallet. Is this the expected behaviour ? Will they appear after the 3200 confirmations ?

Are you using Qt? Do you see the immature amount on the overview page? Do you see them in the transaction page? The immature transaction should be shown with a colored clock.

[#Darren]

OK I may be misreading this because the dates don't look right but, this appears to be just before it went offline

2013-07-18 02:03:28 primemeter  13454056 prime/h 101420690 test/h       780 5-chains/h
2013-07-18 02:04:28 primemeter  13745602 prime/h 105143419 test/h       540 5-chains/h
Flushed 11276 addresses to peers.dat  47ms
2013-07-18 02:05:28 primemeter  14061859 prime/h 108750905 test/h       720 5-chains/h
2013-07-18 02:06:28 primemeter  13796231 prime/h 102766014 test/h       480 5-chains/h
2013-07-18 02:07:28 primemeter  13839371 prime/h 103815376 test/h       600 5-chains/h
2013-07-18 02:08:28 primemeter  14062344 prime/h 107525339 test/h       600 5-chains/h
2013-07-18 02:09:28 primemeter  12485787 prime/h  96503563 test/h       600 5-chains/h
2013-07-18 02:10:28 primemeter  13584837 prime/h 106172256 test/h       420 5-chains/h
2013-07-18 02:11:28 primemeter  14168882 prime/h 109696828 test/h       480 5-chains/h
2013-07-18 02:12:28 primemeter  14026461 prime/h 106335241 test/h       540 5-chains/h
2013-07-18 02:13:28 primemeter  13845249 prime/h 105778718 test/h       660 5-chains/h
2013-07-18 02:14:28 primemeter  13897077 prime/h 106073250 test/h       720 5-chains/h
2013-07-18 02:15:28 primemeter  13448458 prime/h 101670982 test/h       660 5-chains/h
ResendWalletTransactions()
2013-07-18 02:16:28 primemeter  13042697 prime/h  96999767 test/h       540 5-chains/h
2013-07-18 02:17:28 primemeter  13386836 prime/h 100794301 test/h       720 5-chains/h
2013-07-18 02:18:28 primemeter  13877291 prime/h 104013217 test/h      1020 5-chains/h
2013-07-18 02:19:28 primemeter  13594015 prime/h 102210054 test/h      1320 5-chains/h
2013-07-18 02:20:28 primemeter  13731156 prime/h 103821435 test/h       840 5-chains/h
2013-07-18 02:21:28 primemeter  14346552 prime/h 110675496 test/h       660 5-chains/h
2013-07-18 02:22:28 primemeter  13834742 prime/h 107128089 test/h       780 5-chains/h
2013-07-18 02:23:28 primemeter  14206482 prime/h 108546002 test/h       480 5-chains/h
2013-07-18 02:24:28 primemeter  13885791 prime/h 107150584 test/h       540 5-chains/h
2013-07-18 02:25:28 primemeter  13394515 prime/h 102009438 test/h       660 5-chains/h
2013-07-18 02:26:28 primemeter  13478300 prime/h 103040335 test/h       660 5-chains/h
2013-07-18 02:27:28 primemeter  14057786 prime/h 108017936 test/h       540 5-chains/h
2013-07-18 02:28:28 primemeter  14136362 prime/h 107943253 test/h       900 5-chains/h
2013-07-18 02:29:28 primemeter  13728577 prime/h 104383384 test/h      1020 5-chains/h
2013-07-18 02:30:28 primemeter  12890007 prime/h  96574695 test/h       840 5-chains/h
2013-07-18 02:31:28 primemeter  13665136 prime/h 102877186 test/h       600 5-chains/h
2013-07-18 02:32:28 primemeter  13271382 prime/h 100396361 test/h       720 5-chains/h
socket recv error 10054
disconnecting node 46.137.232.233:9911