A Coin Made Especially for Miners.

[Damnsammit]

Gonna go mine me some NUGs

[Vlad2Vlad]

Gonna go mine me some NUGs

Ahahhaa.  Man, that has a kind of likeable sound to it.  A people's kind of sound.  Like meat and potatoes as opposed to the caviar and lobster out there right now.

[Vlad2Vlad]

But seriously, where is Hazard and the other C4n10 guy?  No reply in 24 hours.  Bad service I tell you.

I really want to run these ideas by a programmer to see what's actually doable and how much extra it will cost me.

[Zas]

 

Patience, you must have young one.

In all seriousness they could either be busy or just not around for today, probably busy. If they are not back by tomorrow, you might need to seek out other means.

[nhminer]

I would call it Gold-Pressed Latinum (GPL)

[Zas]

Ooh a trekkie. Lemme just break out my stock of Dilithium crystals to trade with XD

[nhminer]

The second part of this coin - very important:


<snip>

This, combined with VGB, will greatly help all the miners, especially the small guy - of which there are many and will be many more.

Ok -- I gotta tell you that this is enough to make me lose interest. --- Thanks for the interesting thread up to now.

~nh

[Zas]

Hm... I actually think you're overdoing it there. I'm no fan at all of republics and this 25% distributed to whatever cause is a bad idea. Basically its very open to abuse.

[Vlad2Vlad]

Hm... I actually think you're overdoing it there. I'm no fan at all of republics and this 25% distributed to whatever cause is a bad idea. Basically its very open to abuse.

Ok, how do you suggest leveling the playing field a bit more without targeting people or specific miners such as large miners?

If you guys think its a bad idea, great, it's gone.  It makes no difference to me personally.

[Vlad2Vlad]

The second part of this coin - very important:


<snip>

This, combined with VGB, will greatly help all the miners, especially the small guy - of which there are many and will be many more.

Ok -- I gotta tell you that this is enough to make me lose interest. --- Thanks for the interesting thread up to now.

~nh

This was simply a strategic idea but if you guys think its lame or open for abuse then it's no big deal, it's gone.

I just wanted a way to level the playing field a bit more. Cause you can't code something which alienates any large portion of the network, like the big miner, that wouldn't work, but I thought this would.

But the feature I have in mind would have a leveling effect but since it won't specifically exclude big miners that effect would be limited.

You guys have to realize, once ASICS take off and the masses come in, the control you have now to launch a coin and have an active hand in its success will be gone.

This is a once in a lifetime opportunity and soon the bankers will come in and the pro developers and millions of people with ASICS and the voice you have now will be completely drowned out in that ocean of noise.  Create the best coin to benefit the miners while you can and that's what this thread is for - figuring out how to get an edge that works long-term.

[Vivisector999]

As odd as it seems, from following your posts for the last week or so, you have my interest to at the very least watch to see what your going to attempt to try with your coins.  The 1% is alot better as well.  But I will say if your going to try to implement something totally new, like a script that gives more to the smaller miners, that will end up costing you a bit of money, as that will take more programming know-how.  Who knows I will probably even join onboard if it's a scrypt based coin.  If it's SHA-256d, count me out.

Ok, but this coin is meant to help level the playing field.  And I tried mining LTC with a $1,700 dual 7850 GPU and I was barely covering electricity.

So clearly, any new guy without tons of money or the small miner who can't get that brake is nose screwed.

So ignoring fear, money or greed, is the best way SHA256d?

I mean why wouldn't you wanna merge mine?

Why wouldn't you want a future proof coin which is ASICS.

Next year ASIC 2.0 will come out and the little guy will own an ASIC.

To me SHA256 is the best way to go.  And relatively speaking, this coin would benefit the smaller miner so that's gonna help a lot.  And it's not like scrypt is an easy way to mine.  It's all a joke now unless you have minimum $5,000 just for starters, and let's face it, most don't.

First of all, if you paid $1700 for 2 - 7850's then you got taken right there.  After that, to mine scrypt, you need to tweak the .bat files a bit so you can get the most out of your miners.  From your other posts here, I am doubting you had your batch file set up correctly.

A small miner is not going to have an ASIC sitting in their house.  They will be mining with GPU's.  SHA256 is a dead place for GPU's now.  And after the difficulty jump today for BTC, it's way worse.  Merge mining with obsolete equipment still = a dead loss for money made.  The reason Scrypt was put in Cryptocurrency in the first place was to keep the game for the small miners alive.  

And I doubt you will figure out a way to make it easy for the little guys.  Whatever you try to do, there will be 1000 ways to get around it.  Don't worry about spending the entire programming cost on trying to make it a coin for small miners.  Your only going to make the big miners that much richer.

But it's your coin.  Do what your ideas tell you to do.


Edit:  Just read the rest of the posts.  Keep it simple.  And get to know your audiences ect before you start getting other ideas in your head.  If a coin (even Bitcoin) takes off, the masses aren't going to buy miners, and start learning how to properly set up batch files to get the most out of their equipment.  They are going to purchase the currency, and run with it.  If you can make 50% a year or whatever the rate will be, why would you bother coming down to the miners (ie geek level).  The difficulty level is going to be so high the best bet would always be to buy it straight out.  Not sure of your aware of this, but as time goes on, the mining rewards actually drop, so having 2 billion people buying $3000 machines to fight for 1 bitcoin isn't going to happen.

Also if you want a coin that is "For the miners", then you have what a large % of the coins out there do.  Give 100% to the miners.  And no pre-mine.   By taking a % for yourself, and then thinking about voting in 4 anonymous people to hand out the other 24% is the exact opposite of making the coin for the miners.

BTW.  Everything here is open source.  Meaning everything you think of can be copied by anyone else (IE how you will get your coin for virtually nothing).  You can share all of your ideas.  Don't think your getting anywhere hiding them, or hanging on to them for your coin.  Just share all your ideas and we will let you know the good from the bad.

[Vlad2Vlad]

ASICS will be available to the small guy by next year for the price of a GPU while mining 20 times faster for 1/10th the energy cost.  All these scrypt coins will need a hard fork.

A 5GH BFL Miner eating 50 watts, is $300, what I paid for 1 GPU which was doing about 300MH while eating 250 watts.  And this is ASICS 1.0, 2.0 ASICS coming out next year will eat half as much while mining much faster and will cost even less.

GPU's are gonna be history.  Numerous good ASIC builders are coming online in mass volume already.  If the reason for Scrypt is to run from ASICS that's not the best way since ASICS are the way to go.  BTW, I paid $1700 for the whole new computer with an 8 core CPU and other high end hardware.

But if most people here prefer scrypt then so be it.  I'm sure a hard fork can switch it to SHA256 next year if I'm right.

[Vlad2Vlad]

And as for the edge, small miners would have an edge with this VGB feature.  And there's no way around it but since this feature is fully inclusive, the edge or benefits to the small miner, although real, are only on a % basis which means relative.  That's better than what any other coin out there offers right now but it's still not quite enough to really level things out.

And excluding certain miners would simply not be a good idea.  Any solution would have to be a win-win for everyone.

[Vivisector999]

ASIC's aren't the best way to go since it basically centralizes the power in the hands of the big players, and flushes the little guys out.  This actually makes your coin less secure.  Even if eventually 5 Ghash/s ASIC's are available to miners for $300 in the future, you can bet that there will be 1 Thash/s miners available at that time for the big guys.

And just so you know.  An sha256 ASIC miner can't mine a scrypt based coin.  It can't do anything else either.  It either hashes sha256, or it does nothing.

[GoldBit89]

First of all not sure why you want to reward less security however with the nature of anonymous peers a single "large" miners can appear as dozens or hundreds of tens of thousands of small peers.

i.e. if I have 1 TH/s of hashing power I can easily make that look like 1x 1000 GH/s worker, 10x 100 GH/s workers, 100x 10 GH/s workers, 1000x 1 GH/s workers, etc.

I wouldn't target the large miners.  In fact the large miners would get the same rewards but on a % basis, the feature I have in mind would be much more rewarding for the smaller guy.

So the security wouldn't change and large miners would want to mine this coin as well because it should be more fun and rewarding to mine than any other coin.

But I haven't talked to any programmers so I don't know what it would take or how much it would cost to implement such a feature.

i came up with something similar back on June 10th of this year:

 Implementing a tier based bonus system
« on: June 10, 2013, 07:06:08 pm »

    Quote
    Modify

Hello,
1)How difficult would it be to implement into either existing or creating a new software mining package with a tier based reward bonus system mainly focused on the middle or lower end miner hash tiers.(example:0-300 k hashes) Keep in mind that this would be bonus and would not be taking away from rewards that higher end tiers get now. 2)Also would this same piece of software be able to be used for a solo miner?
post your thoughts and suggestions and even feedback if you think this would be a negative action for mining in general.

Thanks,
Goldbit89

[Vlad2Vlad]

Man, that was a cool idea.

Only problem there is that it's too easy for anyone to make their huge network look like 10 or 1,000 small ones and then the big guy would steal from the little guy.

My feature can't be abused or circumvented but it would not be as leveling as your plan would have been since your plan would have actively excluded the big miners which would obviously have had bigger benefits but also some big problems.  

[GoldBit89]

Man, that was a cool idea.

Only problem there is that it's too easy for anyone to make their huge network look like 10 or 1,000 small ones and this the big guy would steal from the little guy.

My feature can't be abused or circumvented but I would not be as leveling as your plan would have been since your plan would have actively excluded the big miners which would obviously have had bigger benefits but also some big problems. 

yes that was one of the same comments that was left on my original post too.Im not trying to take from the large bigger miners, i just something to try and encourage more then smaller miners which i believe is the majority, not all of us can afford expansion and new computer hardware. And with any computer or computer part--the actual day it comes out, its already outdated.But i would love a coin or a sytem that would equally award "ALL" miners regardless of hardware  or software.

[tlr]

A coin designed for miners is the equivalent of cryptocurrency masturbation.

[Vlad2Vlad]

A coin designed for miners is the equivalent of cryptocurrency masturbation.

And this is wrong, because...?

[Vlad2Vlad]

Man, that was a cool idea.

Only problem there is that it's too easy for anyone to make their huge network look like 10 or 1,000 small ones and this the big guy would steal from the little guy.

My feature can't be abused or circumvented but I would not be as leveling as your plan would have been since your plan would have actively excluded the big miners which would obviously have had bigger benefits but also some big problems.  

yes that was one of the same comments that was left on my original post too.Im not trying to take from the large bigger miners, i just something to try and encourage more then smaller miners which i believe is the majority, not all of us can afford expansion and new computer hardware. And with any computer or computer part--the actual day it comes out, its already outdated.But i would love a coin or a sytem that would equally award "ALL" miners regardless of hardware  or software.

That's the beauty of my protocol - it rewards all miners equally while on a (% "relative" basis) the smaller the miner the greater the reward, once again, relatively speaking.

I realize that sounds impossible but it's not.  This is not going to enrich the small guy to the detriment of the big guy but it will provide a nice surprise mining factor which would help out and give hope to the small guy and if all coins were to implement this then it would in fact be a really big deal on a cumulative basis.