GRAND COIN - 1 GRAND PER BLOCK and SUPER BLOCKS released TODAY 13/07/13

[kriegalex]

Yeah the problem is that all the people that saw GDC coming on coinmarketcap speculated and when it was refused + Cryptsy problems of course lots of people sold everything

[binaryclock]

So a temporary solution would be to avoid stratum based pool in favor of p2pools ?
Where do those coins go after a 500 error then ? who "win"/keep" them ?

Also, the fact that all the pools show in the CONTRIBUTOR HASHRATES a totally misleading and false profit (in BTC/day and/or in USD/day) is borderline a blatant lie, even if it's not the pool's owner fault.
Adding a sentence like "real profit are likely 25% to 35% of your simulated profit" would be more honest.

Using p2pool would not solve the issue because from what the stratum developers tell me, the issue is with the grandcoin daemon itself and the way it accepts solved blocks.

[Speaker]

Well we just need to figure out how many coins there is of GDC right then it goes on Coinmarketcap?

The cryptsy problems did set GDC back though :/

[kriegalex]

Well we just need to figure out how many coins there is of GDC right then it goes on Coinmarketcap?

The cryptsy problems did set GDC back though :/

You cannot calculate it accurately because of the random super blocks, the only thing you can do is use the super blocks coin rewards and put it to an average value. I did that and the worst case scenario error is 0.38% (there is a 0.38% error if everyone who got a super block got it's maximal or minimal value but never in between which is impossible, so the error is less than that). Now Gliss has to decide (if he saw my messages) if this error is acceptable.

[nordicminers]

I'm mining on http://gdc.nordicminers.eu/ but it seems I'm getting a quarter of what I should get with 4.6MH/s

With a difficulty that varies from ~3.5k to 6.5k, I should get in 24H something like 10k to 20k GDC, but I'm only getting ~5000

Their pool page is totally misleading, showing that I should get ~20k GDC with a ~5k difficulty, when in a few hours of relative stable difficulty (4.5k to 5.5k), I got ~200GDC per hour, instead of 600 to 800.

This is not the only pool which is completely of (and it's not specific to GrandCoin), showing great profitability when in fact it's much worse than mining standard LTC.

Yes, the pool statistics page is off. I wish the page could take the 24h block average into account for basing the values. Instead of just plain calculation "snapshot" diff vs your hashrate. Rest assured though that my pool pays out everything it gains from the blocks. Even a superblock will be split evenly among the current miners, I only get 1% for maintaining the site and it's alot of work

My tip to you is to figure out if you want to mine the coin for 5k/day. Or check if you get more than 5k/day on another pool, I can't sadly affect the luck of the blocks.

[yessine]

when i try to mine solo i got this error message
no suitable long-pool found for http://localhost:12378
any one can help on that
i have cgminer 3.7.2

[Jriker1]

I'm mining on http://gdc.nordicminers.eu/ but it seems I'm getting a quarter of what I should get with 4.6MH/s

With a difficulty that varies from ~3.5k to 6.5k, I should get in 24H something like 10k to 20k GDC, but I'm only getting ~5000

Their pool page is totally misleading, showing that I should get ~20k GDC with a ~5k difficulty, when in a few hours of relative stable difficulty (4.5k to 5.5k), I got ~200GDC per hour, instead of 600 to 800.

This is not the only pool which is completely of (and it's not specific to GrandCoin), showing great profitability when in fact it's much worse than mining standard LTC.

Yes, the pool statistics page is off. I wish the page could take the 24h block average into account for basing the values. Instead of just plain calculation "snapshot" diff vs your hashrate. Rest assured though that my pool pays out everything it gains from the blocks. Even a superblock will be split evenly among the current miners, I only get 1% for maintaining the site and it's alot of work

My tip to you is to figure out if you want to mine the coin for 5k/day. Or check if you get more than 5k/day on another pool, I can't sadly affect the luck of the blocks.

I was just saying the same thing and noticed this post so relocated. When I started mining with 4,000 KH/s, mining calculators and the pool said I would get about 13k coins a day. Two days in I have 9k coins where in theory should have closer to 25k based on calculations. Major dif.

[kriegalex]

Hi,

So Gliss has seen my spreadsheet and added GrandCoin because of the low error, but that's what he PMed me :

Hey,

Luckycoin uses an ABE block explorer which I believe incorporates the superblocks into the supply count.   If you know of anyone that could host an ABE based block explorer that would be ideal, but I can calculate it based on the blocks for now since the margin of error is slim enough.  It will be up soon.  Thanks!

So if anyone can get an ABE based block explorer, just let the community know, it would be great

[roselee]

how do yu mine this coin?

[crike]

Grandcoin just got added to http://coinmarketcap.com/gdc_30.html

Still early to buy some of these 

[yessine]

when i try to mine solo i got this error message
no suitable long-pool found for http://localhost:12378
any one can help on that
i have cgminer 3.7.2

any idea on my issue ?

[crike]

when i try to mine solo i got this error message
no suitable long-pool found for http://localhost:12378
any one can help on that
i have cgminer 3.7.2

any idea on my issue ?

That's normal for solo mining. It still shows your hashrate etc. information, right?

[Speaker]

Grandcoin just got added to http://coinmarketcap.com/gdc_30.html

Still early to buy some of these 

YES! SWEET! BEST BIRTHDAY EVER!

[roselee]

id like to mine this coin how do i start ?

could you help ?

[huyha123]

CMC show that GDC has 250m coin right now. so all coins have been mined?

[nordicminers]

Mr Grandcoin, wake the fuck up and fix your coin. We demand submitblock function.

./grandcoind submitblock
error: {"code":-32601,"message":"Method not found"}

Submitting blocks via getblocktemplate is scetchy at best, making the Pools drop 1/2 to 1/3 of the submitts. I've tried to leviate the problem on my pool by hammering the blocks via resubmit, seems to work a little better. But that's not a solution, just an ugly hack.

So fix it ffs!

[S3MKi]

hold your coins, price is rising !

[selavy59]

I'm mining on http://gdc.nordicminers.eu/ but it seems I'm getting a quarter of what I should get with 4.6MH/s

With a difficulty that varies from ~3.5k to 6.5k, I should get in 24H something like 10k to 20k GDC, but I'm only getting ~5000

Their pool page is totally misleading, showing that I should get ~20k GDC with a ~5k difficulty, when in a few hours of relative stable difficulty (4.5k to 5.5k), I got ~200GDC per hour, instead of 600 to 800.

This is not the only pool which is completely of (and it's not specific to GrandCoin), showing great profitability when in fact it's much worse than mining standard LTC.

I am having the same problem. Unless you hit your estimated coins then Grandcoin is just not profitable. Also had same problem at another pool. I'm sure it's not the pool itself. I don't with Grand coin anymore, there are more profitable alts out there.

[bholzer]

If somebody can find the time to fix this stratum issue, GrandCoin will have a lot more potential. As it stands now, there are a ton of people wasting their hashing power -- I'm baffled that there is ~200 Mh/s being thrown into gdc.dedicatedpool.com alone -- they're averaging 221.82% over projected shares per round over the past 24 hours...in addition to miners paying a 2% pool fee -- the actual return, with stales factored in, is way down the scrypt profitability list -- 10% below even LTC or BBQCoin right now (based on current rates on the exchanges.) This is taking into consideration that the average block reward is roughly 1008.89 GDC due to the bonus blocks (all coin calculating websites I've seen base their figures on 1000 GDC/block meaning they'd be shooting low if it weren't for the number of stales and also the stratum issues. Lazy, in my opinion, not to factor in the bonus blocks. Perhaps they're working an angle?)

It amazes me that people will just blindly mine without doing some basic math and realizing they're getting screwed. I hate to hurt this pool...because it's not the pool operator's fault its happening...but I do feel it's a little unfair to even keep it open at this point as the issue has clearly been exposed.

As far as the issue with attempting to estimate the total number of coins to determine market cap...I'd say leaving the blockchain out of it and just averaging the bonus blocks is the way to go. We're deep enough into the life of GrandCoin that an average will almost certainly prove to be quite accurate (and will only approach additional accuracy as time goes on):

Per 13440 blocks:
13,432 x 1000 (13,432,000 GDC)
7 x 7500 (52,500 GDC)
1 x 75000 (75,000 GDC)

13,559,500 / 13440 = ~1008.89 GDC/block average. They're leaving close to 1% on the table in their calculations by ignoring the bonus blocks -- significant when we're now dealing with a coin that has an ~$1,000,000 market cap (as of this post.) There are entire market caps of altcoins that have been around for months worth less than this neglected margin of error.
 

[binaryclock]

I'm actually working on the issue as we speak, working with the code.