[ANN] MemoryCoin

[FreeTrade]

Explanation 2: My home PC does around 6 h/s on average for 350 W

7000 = (3.6*10^9 hashes / block) / (6 h/s) / (60 seconds per minute) / (60 minutes / hour) * 350 W/hr * (1 KW / 1000 W) * ($0.12 / KW hr)

Also, are you sure the PC is running at the full 350W? It sounds a lot for a home PC. It might just be the max rating for the power supply but running at a fraction of that - you'd need to hook up a watt meter to know for sure.

[FreeTrade]

You are pricing 10K MEG at 100 BTC...That is >$10,000.  Your electricity cost are maybe $300.  Please post a more realistic price or wait for an exchange.

This from the same user a few days ago . . .

I will buy   all you coin . 1btc=8000MEG

Quite the speculator! Good luck to everyone, fingers crossed for an exchange soon.

[gym520]

20 I7 3770k($1000X20=$20000)  + a week(300w x20x24x7x$0.2/1000=$200) =10000MEG 

[devlin]

http://memorycoin.21stcenturymoneytalk.org not show total clients in network, I have 85 connections at one comp.

[jestronix]

or we could call it power coin , judging a coin price based on its power costs is a starting point i guess. Other factors come in such as support, uniqueness, following, complexity.  Just a guess I put the coin at 1500  / btc. Thats what  around 0.0008 starting price.  This sits just above mincoin. just a guess, i think it will go well beyond this,  but just my opinion. I cant compare it to XPM, but considering it launched near .005 ? then maybe 1/8th the launch price of that ?  i could be way off here,

[B.T.Coin]

Is the stability issue still being worked on? New releases used to come every day but now I haven't seen one for a while.
The software has gotten a bit more reliable with the last few releases but I still get runtime errors or it hangs on a grant-block.
My 6-core and 4-core still cant run all night long without stopping

[bahamapascal]

Is the stability issue still being worked on? New releases used to come every day but now I haven't seen one for a while.
The software has gotten a bit more reliable with the last few releases but I still get runtime errors or it hangs on a grant-block.
My 6-core and 4-core still cant run all night long without stopping

Same here, still geting hangups, so I can´t let it run all night
FreeTrade, are you still working on this issue?

[albon]

I keep having a problem. It just stops mining and hangs. If you put any commands in the debug box nothing comes up. Have to restart the client after shutting it down via the possesses end all. Seems to be some stability issues left.

Using windows 7 64bit

[AnonyMint]

sounds interesting, can you speak more about the hashing algo?

   SHA512((pbegin == pend ? pblank : (unsigned char*)&pbegin[0]), (pend - pbegin) * sizeof(pbegin[0]), (unsigned char*)&csoh);
   for(int i=0;i<12;i++){
      scrypt(csoh, HASHLENGTH, csoh, HASHLENGTH, 12, 1, 1, (unsigned char*)&csoh, HASHLENGTH);
      for(int j=0;j<10;j++){
         scrypt(csoh, HASHLENGTH, csoh, HASHLENGTH, 8, 1, 1, (unsigned char*)&csoh, HASHLENGTH);      
         SHA512(csoh, HASHLENGTH, (unsigned char*)&csoh);
      }
   }
   scrypt(csoh, HASHLENGTH, csoh, HASHLENGTH, 10, 8, 1, (unsigned char*)&csoh, HASHLENGTH);
   uint256 hash2;
   SHA256((unsigned char*)&csoh, sizeof(csoh), (unsigned char*)&hash2);


It's designed to hit L2 cache for 128K, L3 cache for 2MB, and main memory for 64MB - and mixes in some SHA512 for complexity.

I am late to see this, and apparently I discovered a related nesting strategy for breaking GPUs:

https://bitcointalk.org/index.php?topic=160612.msg2944399#msg2944399

1 hash a second? damn no wonder the diff is so low

Kudos except (without testing my hypothesis) you want to be in 32 KB the entire time but interleaved over a large memory space. Won't be as simple as the code you have above.

I like your no nonsense OP. Grants are an interesting idea.

My frank posts in other alt coin show I don't respect nonsense:

https://bitcointalk.org/index.php?topic=273197.msg2949736#msg2949736

Kudos on not stopping debasement (maintaining 2% per annum), but 5% is the required historic growth rate:

https://bitcointalk.org/index.php?topic=160612.msg2930843#msg2930843

[B.T.Coin]

Is the stability issue still being worked on? New releases used to come every day but now I haven't seen one for a while.
The software has gotten a bit more reliable with the last few releases but I still get runtime errors or it hangs on a grant-block.
My 6-core and 4-core still cant run all night long without stopping

I'm now running 3-4 machines for 6 days...
And have not seen anything like you describe on Windows 7 64-bit.

SMOOTH SAILING except a machine occasionally starts producing "orphans"...
And needs to be rebooted/reseeded as previous page.

Your machine producing orphans is because it is stuck on a block while the blockchain moves on. This is the hanging-on-block problem I describe.

[taturii]

I would like to propose a new address for a grant. I think it's quite unfair that people having huge balances take advantadge of the voting system to feed their own private grant addresses which, at the same time, gives them more voting power. So I think it's necessary to post new public goals to be supported by the community to avoid the misuse of the voting system. I propose to create a giveaway grant

MVTEoEot8ZGKWmDi8pZS6tJMHR5ba9MnNN

All the funds received at this address (if funded) will be used to send 10 MEG to anyone posting his/her memorycoin address in a 'Memorycoin giveaway' thread that I will create. In this thread there will be posted all the transactions' id so anyone can check that all the coins received are used for this purpose. I think that spreading the coin will be more beneficial for the coin than someone getting more and more 'rich'.
 

[taturii]

I would like to propose a new address for a grant. I think it's quite unfair that people having huge balances take advantadge of the voting system to feed their own private grant addresses which, at the same time, gives them more voting power. So I think it's necessary to post new public goals to be supported by the community to avoid the misuse of the voting system. I propose to create a giveaway grant

MVTEoEot8ZGKWmDi8pZS6tJMHR5ba9MnNN

All the funds received at this address (if funded) will be used to send 10 MEG to anyone posting his/her memorycoin address in a 'Memorycoin giveaway' thread that I will create. In this thread there will be posted all the transactions' id so anyone can check that all the coins received are used for this purpose. I think that spreading the coin will be more beneficial for the coin than someone getting more and more 'rich'.
 

This will not work.  There is no mechanism to assure that people posting in the thread are NEW users and not existing users gaming the system.  I like the idea, but it needs more thought before advertising to the whole forum.

I never said that the giveaways were addressed to new users of the coin. I'm aware that I cannot check if an address corresponds to a new user or someone having 10k MEG, but at least the coins of the grant (if obtained) would be spread over different users of the forum ( I doubt that anyones creates an account to get 10 MEG) which I think is much better than a large coinholder to keep increasing his balance for nothing

[igysa]

13 days behind and then crushes ? on both of my comps ??

[AnonyMint]

This will not work.  There is no mechanism to assure that people posting in the thread are NEW users and not existing users gaming the system.  I like the idea, but it needs more thought before advertising to the whole forum.

Indeed. The more I think about Grants, the more I realize they are a bad idea and like socialism. The people who want some work done, should pay for it out their own money, not jockeying for position to control the awarding of 1/20 of the debasement.

Some Iron Laws of Political Economics:

http://esr.ibiblio.org/?p=984

So let's see MemoryCoin:

1. Got the Scrypt wrong and can still be supermined by GPUs
2. Introduced socialism into the debasement
3. Got the level of the eternal debasement wrong, since 1790 the nominal GDP grows at 5% not 2%.
4. Afaik, has made no advances on improved anonymity
5. Afaik, has not improved blockchain scaling (Bitcoin can't scale to even 1/10 of Visa scale).
6. Didn't improve the speed of approval of transactions (10 mins in Bitcoin, also Litecoin if you want same confidence)
7. Afaik, no mandatory transaction fees to eliminate spamming of transactions (sending from self-to-self at no cost).
8. etc.

Yawn.

[torbank]

1. Got the Scrypt wrong and can still be supermined by GPUs

Is that a fact?

2. Introduced socialism into the debasement

Not sure how accurate this is, since coins can be freely traded.

3. Got the level of the eternal debasement wrong, since 1790 the nominal GDP grows at 5% not 2%.

How realistic is it to go by the GDP growth rate all the way back to 1790?

4. Afaik, has made no advances on improved anonymity
5. Afaik, has no improved blockchain scaling (Bitcoin can't scale to even 1/10 of Visa scale).

I haven't seen anyone claiming innovation in these particular areas.

6. Didn't improve the speed of approval of transactions (10 mins in Bitcoin, also Litecoin if you want same confidence)

The block target is supposed to be six minutes.

7. etc.

Possibly irrelevant.

[FuzzyBear]

10 Megs to the first 10 people here

http://21stcenturymoneytalk.org/index.php/topic,41.0.html

[FreeTrade]

Is the stability issue still being worked on? New releases used to come every day but now I haven't seen one for a while.
The software has gotten a bit more reliable with the last few releases but I still get runtime errors or it hangs on a grant-block.
My 6-core and 4-core still cant run all night long without stopping

Yes - got an update here and I'm going to be posting further updates here - this thread is becoming very crowded with many different issues, and I don't want to spam the main altcoins forum with continual MC posts -

http://21stcenturymoneytalk.org/index.php/topic,38.0.html

[FreeTrade]

I would like to propose a new address for a grant. I think it's quite unfair that people having huge balances take advantadge of the voting system to feed their own private grant addresses which, at the same time, gives them more voting power. So I think it's necessary to post new public goals to be supported by the community to avoid the misuse of the voting system. I propose to create a giveaway grant

MVTEoEot8ZGKWmDi8pZS6tJMHR5ba9MnNN

All the funds received at this address (if funded) will be used to send 10 MEG to anyone posting his/her memorycoin address in a 'Memorycoin giveaway' thread that I will create. In this thread there will be posted all the transactions' id so anyone can check that all the coins received are used for this purpose. I think that spreading the coin will be more beneficial for the coin than someone getting more and more 'rich'.
 

Thanks for this - generally I don't like giveaways from a marketing point of view, it devalues a coin as people might wonder why someone would give away something that is valuable. However the wider distribution garnered by a giveaway is more community oriented than concentration of coin in large private holder so overall I'm supportive. Also I'd ask you to be careful not to draw support away from other community grants - I think the awards of both 21st Century and MCF are looking vulnerable in the latest vote.

[AnonyMint]

1. Got the Scrypt wrong and can still be supermined by GPUs

Is that a fact?

In my mind yes, because I understand which algorithm properties are required to defeat GPUs:

https://bitcointalk.org/index.php?topic=160612.msg2944399#msg2944399

Someone needs to implement a GPU miner to prove it.

The key algorithm point is that GPUs can mask the latency of hitting big memory by using massive multi-threading.

2. Introduced socialism into the debasement

Not sure how accurate this is, since coins can be freely traded.

3. Got the level of the eternal debasement wrong, since 1790 the nominal GDP grows at 5% not 2%.

How realistic is it to go by the GDP growth rate all the way back to 1790?

It has been consistent over any few decades hence. Realize I wrote "nominal", not "real" (i.e. inflation adjusted).

If MemoryCoin became the only money in the world, then the economy could not grow faster than 2% long-term (in short bursts it could, because V is independent of M, M * V = nominal GDP). V = velocity of money

4. Afaik, has made no advances on improved anonymity
5. Afaik, has no improved blockchain scaling (Bitcoin can't scale to even 1/10 of Visa scale).

I haven't seen anyone claiming innovation in these particular areas.

4. Anoncoin using I2P:

https://bitcointalk.org/index.php?topic=273197.msg2950849#msg2950849

5. I offered a new design that solves the problem. Challenge is for you to find it in my writings.

6. Didn't improve the speed of approval of transactions (10 mins in Bitcoin, also Litecoin if you want same confidence)

The block target is supposed to be six minutes.

Shorter block times not only do not provide instantaneous transactions, but don't decrease the time needed to wait to gain a certain level of probability of confidence-- it is always the same for Bitcoin = Litecoin = MemoryCoin. The probability is independent of the time taken to compute a block. Study PoW in Satoshi's white paper.

I have proposed a solution that gives instantaneous transactions.

[FreeTrade]

1. Got the Scrypt wrong and can still be supermined by GPUs

Thanks for your comments and links on this. I haven't had time to fully digest them - there's a lot of information there and there are some competing demands on my time.  From what I've seen, adding cores does not produce linear improvements, even with the small numbers of cores in a CPU. But if MC is vulnerable to GPU mining, I'd like to see it fail fast, so I'd encourage you to post any ideas you have for how one might go about creating a GPU miner.

4. Afaik, has made no advances on improved anonymity

Actually, MC has gone backwards on this a little by always sending change to first address in a wallet to support the voting system, and because this is more intuitive for new users. Generally with MC where there is a choice between ease of use and anonymity, I'll choose ease of use. I care about privacy too, but I care about adoption more. The privacy options of Bitcoin are obviously still there in the protocol, but users will need to take more care to ensure they are utilized.