[XPM] Working on a GPU miner for Primecoin

[A L I E N]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

[techbytes]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

Thanks for the heads up.


-tb-

[FiiNALiZE]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

http://virusscan.jotti.org/en/scanresult/1808448ca86014109a5a1f88fa430de21f290b82


https://www.virustotal.com/en/file/4e89551a78b655374b270cf26067dabae5013392ab84506b1d153dcbf0510bdd/analysis/1375742204/

I got 4/45: https://www.virustotal.com/en/file/4e89551a78b655374b270cf26067dabae5013392ab84506b1d153dcbf0510bdd/analysis/1375749063/

[itod]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

Seems there are several versions. I've just downloaded it from torrent and this is what Virustotal says:
https://www.virustotal.com/en/file/7ab6c41d875b908ea1c8cea9c6c22d5dd791ce29587a5b45191c1c5bd9675fa0/analysis/
So two less detections (2/45) than in previous post. Maybe there is a version without the trojans out there.

[FiiNALiZE]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

Seems there are several versions. I've just downloaded it from torrent and this is what Virustotal says:
https://www.virustotal.com/en/file/7ab6c41d875b908ea1c8cea9c6c22d5dd791ce29587a5b45191c1c5bd9675fa0/analysis/
So two less detections (2/45) than in previous post. Maybe there is a version without the trojans out there.

Those are probably false positives since miners are known to be detected as trojans by certain anti-virus software.

I wouldn't risk it though

[itod]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

Seems there are several versions. I've just downloaded it from torrent and this is what Virustotal says:
https://www.virustotal.com/en/file/7ab6c41d875b908ea1c8cea9c6c22d5dd791ce29587a5b45191c1c5bd9675fa0/analysis/
So two less detections (2/45) than in previous post. Maybe there is a version without the trojans out there.

Those are probably false positives since miners are known to be detected as trojans by certain anti-virus software.

I wouldn't risk it though

Neither would I, but for the brave souls out there: google the name of the file and the torrent link is easy to find up in the results, maybe it is worth the try sandboxed or on the system with fresh/unused wallet and reinstall the system after the test.

[dudeguy]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

Seems there are several versions. I've just downloaded it from torrent and this is what Virustotal says:
https://www.virustotal.com/en/file/7ab6c41d875b908ea1c8cea9c6c22d5dd791ce29587a5b45191c1c5bd9675fa0/analysis/
So two less detections (2/45) than in previous post. Maybe there is a version without the trojans out there.

Those are probably false positives since miners are known to be detected as trojans by certain anti-virus software.

I wouldn't risk it though

Neither would I, but for the brave souls out there: google the name of the file and the torrent link is easy to find up in the results, maybe it is worth the try sandboxed or on the system with fresh/unused wallet and reinstall the system after the test.

Any info on the status of this miner? Is it a fraud?

[Dsfyu]

I assume this is the dev site for this:

https://github.com/Ascendion/ReaperPrime

This is the CPU version of the Reaper miner that was mentioned earlier in the thread.

[BazkieBumpercar]

I'm having a hard time figuring out which direction price is going to shoot when this GPU miner is released.  Will the price tank because there will be an abundance of new coins on the market (which somebody will surely dump for a shitty low price), or will price increase with the new interest in the coin that this release will generate?

It seams rather obvious that GPU miners will be able to produce XPM cheaper than VPS farms used today. People are closely monitoring the profitability ratio of altcoins/bitcoin, and if it is rather high (like 200% for some coins) they mine altcoins and trade them for BTC. As more GPUs get into the game, more VPSs will get out. Current price is guarded by the price of VPS hosting, when that wall breaks and cheap GPU generated XPM flood the market I suppose price has to go down.

This is a persistent misconception; all cryptocoins are generated at a static rate. The mining capacity/hashrate thrown at it has no real impact on the price of the coin, because mining hashrate has no net impact on generation rate - that is why difficulty goes up as you apply more computational power (total network hashrate).

The only thing affecting XPM price now is speculation. The only thing which will ensure longevity of its value is market support (ie. a XPM economy).

Kate.

Kate, you've completely missed my point, and said couple of false claims. I won't argue about the things you are wrong, but I'll underline my point once more: If you got hold of something at high price you can't afford to sell it low and keep your head above the water. If you paid (relatively) high price for VPS hosting, you have to sell XPS high to cover your costs and earn something. But, if you've generated your coins on the cheap with your GPU, you can sell them much cheaper and be happy. So, I'll be very surprised if price of XPM want go down fast immediately after the GPU miner is released to the masses and VPS farms are shut down.

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

[Lauda]

This is going to be fun 

[pgbit]

For those of you that have not yet heard of the PrimecoindGPU-alpha.zip file out there, it is a virus so don't be stupid.

Thanks for the heads up.
-tb-

The pre-release I trust will not be flagged on virustotal. Fingers crossed for a release any day now.

[itod]

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

Higher difficulty and less reward per CPU core gets irrelevant when nobody mines with CPU. If GPU mining is 25x more efficient (as was claimed somewhere in this thread), structure of the mining public will change. No more few giant miners with big expensive rented VPS farms, instead large majority of smaller miners with already owned GPU cards with only electricity costs to cover. Wouldn't that make mining cheaper, allowing everybody to sell XPM cheaper? This seams obvious to me that GPU mining will drop the XPM price significantly, maybe I'm missing some factors.

[#Darren]

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

Higher difficulty and less reward per CPU core gets irrelevant when nobody mines with CPU. If GPU mining is 25x more efficient (as was claimed somewhere in this thread), structure of the mining public will change. No more few giant miners with big expensive rented VPS farms, instead large majority of smaller miners with already owned GPU cards with only electricity costs to cover. Wouldn't that make mining cheaper, allowing everybody to sell XPM cheaper? This seams obvious to me that GPU mining will drop the XPM price significantly, maybe I'm missing some factors.

No it makes sense to me too, at least in the immediate future.

[hendo420]

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

Higher difficulty and less reward per CPU core gets irrelevant when nobody mines with CPU. If GPU mining is 25x more efficient (as was claimed somewhere in this thread), structure of the mining public will change. No more few giant miners with big expensive rented VPS farms, instead large majority of smaller miners with already owned GPU cards with only electricity costs to cover. Wouldn't that make mining cheaper, allowing everybody to sell XPM cheaper? This seams obvious to me that GPU mining will drop the XPM price significantly, maybe I'm missing some factors.

As the processing power on the network goes up block reward will go down. What happens to price of XPM when block reward is less than 5 XPM per block? or less than 2?
Just having a more efficient solominer had a big impact on the block reward. GPU mining will have a huge impact.

Correct me if im wrong but Primecoin should keep ~1minute block time with decreasing block reward as the hashing power increases. This means less XPM per day for way more hashing power. Most other coins dont change the block reward and as such have the same reward per day no matter the hash power on the network. Right now around 16,000XPM are created every day. When GPU miners come online and the block reward drops to 5xpm per block we will see about 7,000XPM per day. Less coins generated a day will make the price go up.

By my observations Primecoin can do nothing but go up as the hash power increases.

Am I wrong?

[paulthetafy]

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

Higher difficulty and less reward per CPU core gets irrelevant when nobody mines with CPU. If GPU mining is 25x more efficient (as was claimed somewhere in this thread), structure of the mining public will change. No more few giant miners with big expensive rented VPS farms, instead large majority of smaller miners with already owned GPU cards with only electricity costs to cover. Wouldn't that make mining cheaper, allowing everybody to sell XPM cheaper? This seams obvious to me that GPU mining will drop the XPM price significantly, maybe I'm missing some factors.

As the processing power on the network goes up block reward will go down. What happens to price of XPM when block reward is less than 5 XPM per block? or less than 2?
Just having a more efficient solominer had a big impact on the block reward. GPU mining will have a huge impact.

Correct me if im wrong but Primecoin should keep ~1minute block time with decreasing block reward as the hashing power increases. This means less XPM per day for way more hashing power. Most other coins dont change the block reward and as such have the same reward per day no matter the hash power on the network. Right now around 16,000XPM are created every day. When GPU miners come online and the block reward drops to 5xpm per block we will see about 7,000XPM per day. Less coins generated a day will make the price go up.

By my observations Primecoin can do nothing but go up as the hash power increases.

Am I wrong?

This is my observation also.  Which is why the price has gone up recently (in anticipation of the incoming rises) and the network hashpower has significantly increased (as shown by the increased diff).  People are mining while they still can!

[vinne81]

This is my observation also.  Which is why the price has gone up recently (in anticipation of the incoming rises) and the network hashpower has significantly increased (as shown by the increased diff).  People are mining while they still can!

Are you refering to the price rise from 0.006 to 0.0065? Still a long way to go to reach the previous tops, no?

I don't see price going up that fast after GPU miners become available. Time will tell...

[pyromaniac]

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

Higher difficulty and less reward per CPU core gets irrelevant when nobody mines with CPU. If GPU mining is 25x more efficient (as was claimed somewhere in this thread), structure of the mining public will change. No more few giant miners with big expensive rented VPS farms, instead large majority of smaller miners with already owned GPU cards with only electricity costs to cover. Wouldn't that make mining cheaper, allowing everybody to sell XPM cheaper? This seams obvious to me that GPU mining will drop the XPM price significantly, maybe I'm missing some factors.

Just a few years ago bitcoin was also CPU-only cryptocurrency, but then it was worth a few cents, today it costs around hundred dollars.

[itod]

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

Higher difficulty and less reward per CPU core gets irrelevant when nobody mines with CPU. If GPU mining is 25x more efficient (as was claimed somewhere in this thread), structure of the mining public will change. No more few giant miners with big expensive rented VPS farms, instead large majority of smaller miners with already owned GPU cards with only electricity costs to cover. Wouldn't that make mining cheaper, allowing everybody to sell XPM cheaper? This seams obvious to me that GPU mining will drop the XPM price significantly, maybe I'm missing some factors.

As the processing power on the network goes up block reward will go down. What happens to price of XPM when block reward is less than 5 XPM per block? or less than 2?
Just having a more efficient solominer had a big impact on the block reward. GPU mining will have a huge impact.

Correct me if im wrong but Primecoin should keep ~1minute block time with decreasing block reward as the hashing power increases. This means less XPM per day for way more hashing power. Most other coins dont change the block reward and as such have the same reward per day no matter the hash power on the network. Right now around 16,000XPM are created every day. When GPU miners come online and the block reward drops to 5xpm per block we will see about 7,000XPM per day. Less coins generated a day will make the price go up.

By my observations Primecoin can do nothing but go up as the hash power increases.

Am I wrong?

Yes, i think you are wrong. Block reward will not decrease not nearly as quick as you think, we are mislead by quick decrease from the first days of the coin to the current level of 9.4 difficulty. Let me explain why: link between the block reward (number of XPM/block) is exponential, and is described by the formula:
reward = 999 / difficulty ^2
So, for block reward to decrease to the levels you described:

5 XMP/block:
difficulty = sqrt(999/5) = 14.13506278

2 XMP/block:
difficulty = sqrt(999/2) = 22.34949663

See, wee will not reach similar levels of difficultly in the foreseeable future, I' may dare to say we will not reach them ever with only GPU mining without ASIC and BTC like adoption, no matter how super efficient that GPU miner will be.

So, no significant decrease of block reward is expected, just the re-distribution of the mined coins from big-mining, rich, VPS expensively generated coins to the small-miner, cheaply produced GPU generated coins. If you produce something with big expenses, you have to sell it high, if you produce it cheaply you can afford to sell it low. I'm pretty sure GPU mining will drop the XPM price significantly.

[Stinky_Pete]

But if GPU mining is relatively cheap, more GPU owners will jump on it, making the difficulty higher, giving less reward, removing the relative cheapness from GPU mining.

Higher difficulty and less reward per CPU core gets irrelevant when nobody mines with CPU. If GPU mining is 25x more efficient (as was claimed somewhere in this thread), structure of the mining public will change. No more few giant miners with big expensive rented VPS farms, instead large majority of smaller miners with already owned GPU cards with only electricity costs to cover. Wouldn't that make mining cheaper, allowing everybody to sell XPM cheaper? This seams obvious to me that GPU mining will drop the XPM price significantly, maybe I'm missing some factors.

As the processing power on the network goes up block reward will go down. What happens to price of XPM when block reward is less than 5 XPM per block? or less than 2?
Just having a more efficient solominer had a big impact on the block reward. GPU mining will have a huge impact.

Correct me if im wrong but Primecoin should keep ~1minute block time with decreasing block reward as the hashing power increases. This means less XPM per day for way more hashing power. Most other coins dont change the block reward and as such have the same reward per day no matter the hash power on the network. Right now around 16,000XPM are created every day. When GPU miners come online and the block reward drops to 5xpm per block we will see about 7,000XPM per day. Less coins generated a day will make the price go up.

By my observations Primecoin can do nothing but go up as the hash power increases.

Am I wrong?

Yes, i think you are wrong. Block reward will not decrease not nearly as quick as you think, we are mislead by quick decrease from the first days of the coin to the current level of 9.4 difficulty. Let me explain why: link between the block reward (number of XPM/block) is exponential, and is described by the formula:
reward = 999 / difficulty ^2
So, for block reward to decrease to the levels you described:

5 XMP/block:
difficulty = sqrt(999/5) = 14.13506278

2 XMP/block:
difficulty = sqrt(999/2) = 22.34949663

See, wee will not reach similar levels of difficultly in the foreseeable future, I' may dare to say we will not reach them ever with only GPU mining without ASIC and BTC like adoption, no matter how super efficient that GPU miner will be.

So, no significant decrease of block reward is expected, just the re-distribution of the mined coins from big-mining, rich, VPS expensively generated coins to the small-miner, cheaply produced GPU generated coins. If you produce something with big expenses, you have to sell it high, if you produce it cheaply you can afford to sell it low. I'm pretty sure GPU mining will drop the XPM price significantly.

The price of the coins is the result of the behaviour of buyers and sellers, not the difficulty. Both sides of this argument seem to assume that the majority of newly mined coins will be sold almost immediately. I'm not convinced this is the case.

[reb0rn21]

@itod

I don`t agree at all, you don`t get block time is 1min and now we have let say 20 000miners or less, with GPU we will have a lot more so more miners sharing same block numbers and less coins, and you do a math!

Also GPU use a lot power sure it will be faster but reward in coins will be small

Only pure retard would sell XPM now, or big shark dumping price and talking crap to buy low