[ANN][GRA] Graincoin - New PoW/PoS coin | Fast, secure | Version 1.5 Released!

[karky]

Whatever the POW extender value will be, the only what matters, that IT HAS TO BE on the information sheet about the coin. Thats's it. This is the only problem.

It's a factor which miners have to know about:
 block time, net hashrate, [POW block time extender]-----> difficulty, block value ---> coin price

Than will be more miners again. X4 would be good, cause than it's easy to calculate (2 min blocks). And a bit better for early miners,  than X3, i guess


(actually, it corrupts net hashrate stat also, but it's not a problem:
1. calculate with the actual block time:  30 sec X extender value
or
2. calculate with lowered hashrate: net hashrate / extender value

You will get the same result, i think, so it would be clear for miners.)

[OneEyedJack]

AAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH



Tension breaker.... had to be done.

Yay Grain!

[btc1210]

Thanks again to those willing to discuss and explain things

I think GRA has a lot of potential which is why I've been mining and buying it up.

It just has to get past a few hurdles.

Maybe later, I will clean up the last few pages and put them in a FAQ on github pages.


I have 3 more questions related to PoS that I didn't see the answer to in https://cryptocointalk.com/topic/700-proof-of-stake-explained-rough-draft/

1) I have been receiving many payments through mining. These smaller amounts are creating a lot of PoS blocks for me. Will these PoS rewards "combine" or will I keep getting small payments. Meaning, let's say PoS rewards are every 15 days on eligible coins. If I have 100,000 coins but they were added to my wallet in 100 coin transactions, am I going to keep getting many small transactions or is there an automatic combining that happens?

2) Similar to the first question. If there are going to be several repeat PoS payouts every 15 days, does this mean we will see a cycle of PoW slowdown every 15 days?

3) If so, how will it work in the future when many people are making many transactions to games, services, etc. Many more PoS rewards could mean an almost stop in PoW. Which means no miners, which means a slow network.


EDIT: just noticed the combined hash rate of the 2 pools is 9 mh/s.

Assuming the current network hashrate (345 mh/s) is just based on PoS generation and not a big solo farmer, would this be a good time to make any major changes that require a fork?

[OneEyedJack]

Any particular reason why the wallet is having a hard time syncing with the blockchain?
I've got 600+ grain stuck in PoS and the blockchain sync stalled at 3000+ behind.

If anyone can shed some light on this....

[bobbyb]

Wow, I opened my client, got 9 PoS blocks in 15 min. and the PoW difficulty jumps to 6
Its like: What, you wanna PoW mine some Grain? Well f*** you, I am opening my client.



Bosian: Can't you increase the minimum coin-holding time needed to generate PoS blocks?

[cryptomining]

Thanks Bee7 for running this giveaway, +1

https://bitcointalk.org/index.php?topic=414909.0

[Nullu]

Is there a way to speed up the PoW mining? Someone mentioned sending the grain to yourself..

[bee7]

Thanks Bee7 for running this giveaway, +1.

https://bitcointalk.org/index.php?topic=414909.0

It is just a pity that some people just respond to the thread at the bitcointalk forum and do not perform the task requested :\

[bee7]

Is there a way to speed up the PoW mining? Someone mentioned sending the grain to yourself..

No. PoW mining may not be speed up this way as it does not rely on the transactions at all. (well, the randomness of the block header depends, but not the outcome of seeking for the block solution)
As for PoS mining - this is not completely clear to me yet, so I will keep quiet

[bosian]

One possible way to solve the PoW block time too long issue is to decrease the max allowed PoW block time, which is currently set at 12X normal time. This means due to the generation of PoS blocks, the PoW block time can be extended to 12X normal time (of course when PoS generation decreases, the PoW block time will decrease and go back to target time). The PoW target time extension is needed in order to maintain the overall block target time.

We could decrease the max allowed PoW block to 3X normal time. Actually I noticed that Novacoin did this patch many months after they launched the coin. We could do the same. This will make the delay of the PoW less significant. However, this will require another hard fork, which is why I am reluctant to do. If the community thinks this is needed, I can make the changes.

Again, the PoS issues I discussed before the release of Version 1.3. Please refer to it (link below) and understand the pros and cons of the PoS blocks.
https://bitcointalk.org/index.php?topic=361503.msg4419112#msg4419112

I think the fair value for POW block time extender would be 1X. But if, 3X is the down limit, we should go 4X, to have difference. But this info should be stated in OP/official site.

You can't have 1X. 1X corresponding to PoW only. With PoS and you want to maintain the overall block time, the PoW interval has to be increased.

[Nullu]

Is there a way to speed up the PoW mining? Someone mentioned sending the grain to yourself..

No. PoW mining may not be speed up this way as it does not rely on the transactions at all. (well, the randomness of the block header depends, but not the outcome of seeking for the block solution)
As for PoS mining - this is not completely clear to me yet, so I will keep quiet

So, I meant to say PoS, not PoW.

[bosian]

There are TWO KIND OF VIEW POINT


Currently, the block time of PoW is 6 minutes, 12X extended due to 12 PoS


FIRST, if cost of coin is 12X higher than the current coin cost, no body will complain,

SECOND, if block time is same as before, such as 30S even little longer, no body will complain,


Actually, it is the very difficult to resolved issues in PoW/PoS coin concept,

The best way is the first way, but, it takes too long time, the maker is catch up, and
it will force to miner to find the other coin,
and, become worst and worst,

If miner consider the long term view, this kind of issues will not be made,

I wish we need to understand PoW/PoS concept,
and, this coin can not compare with the simple PoW only concept.

Yes I agree.

[MrSike]

Is there a way to speed up the PoW mining? Someone mentioned sending the grain to yourself..

If everyone was to do this it could work temporarily, but it would cause problems in the future. By sending grain to yourself you reset the coinage and delay the minting process of those coins which means less coins fighting for PoS and in return PoW should find more blocks. But once those coins are up for minting again we would run into the same problem. Imo the best option for the coins short term health is to change the PoW extended time from 12x down to 3x for the instant results.

[bosian]

Bee7 has a great idea, which I think is a good compensation for the miners:

For now and before the issue is fixed (like we change to 3X for max PoW adjustment), the Grain dev team will send a compensation of 2K-5K for each PoW block mined, to the payout block address of that block. We will try to do it with a script in an automatic way. This will be done for all PoW blocks starting from block 100000. Before the script ready, we can send payout based on screenshots from solo miners and counts from pools.

I still need to determine the exact amount of complementary payout (possibly 5K) so that we will sustain at least for a month. Of course this can't go forever, but for now it is a good and reasonable way to move forward.

[bosian]

Also I see some discussions about premine. I saw this kind of messages in every single thread where the coin is premined.

Let me answer for the last time some concerns about the premine, and from this point on, all premine questions will be ignored.

The premine is stated publicly since the launch of the coin. The premined coins are and will be used for dev/support, promo, marketing, giveaways, bounties, graphics, websites, etc. I think premine is needed as many zero-premined coins (even some premined coins) have been abandoned by the dev and no further dev and build of them. In a long run it is bad for the coin, although some may still be traded and mined.

Some people are curious about how we use the fund. Sorry guys, we will never make it public. I never see a single coin made it public. It is stupid to reveal all our secrets, plans etc so haters can do sabotage and damage.

We are not doing a quick pump and dump, we are building the long term potential of the coin, slowly but steadily.

What if you are really mad and think it's unfair for the dev to premine? I'd suggest two solutions : (a) create your own coin, you can do whatever you like. Or (b). go and mine a zero-premined coin (there are plenty, and we can see how long each will exist ).

[Blackmet]

Bee7 has a great idea, which I think is a good compensation for the miners:

For now and before the issue is fixed (like we change to 3X for max PoW adjustment), the Grain dev team will send a compensation of 2K-5K for each PoW block mined, to the payout block address of that block. We will try to do it with a script in an automatic way. This will be done for all PoW blocks starting from block 100000. Before the script ready, we can send payout based on screenshots from solo miners and counts from pools.

I still need to determine the exact amount of complementary payout (possibly 5K) so that we will sustain at least for a month. Of course this can't go forever, but for now it is a good and reasonable way to move forward.

This is fair. A good decision.

[rentarocker]

Bee7 has a great idea, which I think is a good compensation for the miners:

For now and before the issue is fixed (like we change to 3X for max PoW adjustment), the Grain dev team will send a compensation of 2K-5K for each PoW block mined, to the payout block address of that block. We will try to do it with a script in an automatic way. This will be done for all PoW blocks starting from block 100000. Before the script ready, we can send payout based on screenshots from solo miners and counts from pools.

I still need to determine the exact amount of complementary payout (possibly 5K) so that we will sustain at least for a month. Of course this can't go forever, but for now it is a good and reasonable way to move forward.

This decision shows commitment to GRA as well as to its miners.  Holders and potential investors in GRA should see this as a great confidence booster.  Well done.

[Blackmet]

Bee7 has a great idea, which I think is a good compensation for the miners:

For now and before the issue is fixed (like we change to 3X for max PoW adjustment), the Grain dev team will send a compensation of 2K-5K for each PoW block mined, to the payout block address of that block. We will try to do it with a script in an automatic way. This will be done for all PoW blocks starting from block 100000. Before the script ready, we can send payout based on screenshots from solo miners and counts from pools.

I still need to determine the exact amount of complementary payout (possibly 5K) so that we will sustain at least for a month. Of course this can't go forever, but for now it is a good and reasonable way to move forward.

If I am mining on forkpool, what should I do to get the payouts?

[bee7]

Bee7 has a great idea, which I think is a good compensation for the miners:

For now and before the issue is fixed (like we change to 3X for max PoW adjustment), the Grain dev team will send a compensation of 2K-5K for each PoW block mined, to the payout block address of that block. We will try to do it with a script in an automatic way. This will be done for all PoW blocks starting from block 100000. Before the script ready, we can send payout based on screenshots from solo miners and counts from pools.

I still need to determine the exact amount of complementary payout (possibly 5K) so that we will sustain at least for a month. Of course this can't go forever, but for now it is a good and reasonable way to move forward.

If I am mining on forkpool, what should I do to get the payouts?

I think you should go to your profile and configure the withdrawal address there. Just pick one on the 'Receive' tab of your wallet and insert it at forkpool where appropriate.

[jacquette]

Also I see some discussions about premine. I saw this kind of messages in every single thread where the coin is premined.

Let me answer for the last time some concerns about the premine, and from this point on, all premine questions will be ignored.

The premine is stated publicly since the launch of the coin. The premined coins are and will be used for dev/support, promo, marketing, giveaways, bounties, graphics, websites, etc. I think premine is needed as many zero-premined coins (even some premined coins) have been abandoned by the dev and no further dev and build of them. In a long run it is bad for the coin, although some may still be traded and mined.

Some people are curious about how we use the fund. Sorry guys, we will never make it public. I never see a single coin made it public. It is stupid to reveal all our secrets, plans etc so haters can do sabotage and damage.

We are not doing a quick pump and dump, we are building the long term potential of the coin, slowly but steadily.

What if you are really mad and think it's unfair for the dev to premine? I'd suggest two solutions : (a) create your own coin, you can do whatever you like. Or (b). go and mine a zero-premined coin (there are plenty, and we can see how long each will exist ).

1+

You tell'em Bosian!!