seraphim_bts
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Activity: 57
Merit: 0
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December 30, 2013, 04:41:03 PM |
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This seems to be an error in the block explorer. My wallet doesn't show multiple payouts from a block. Your calculations may be correct, though I don't know how you think you could reliably estimate what he got from honoring MemoryCoin 1 and PTS. The 2 positions he is holding definitely add up to >20k until now. I still don't see why this should be a bad thing. |
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No Gods or Kings. Only Bitcoin
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agran
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December 30, 2013, 10:32:34 PM |
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walet can't sync.. any new nodes?
My nodes: 193.242.149.63 64.150.180.15 |
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1gh
Jr. Member
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Activity: 46
Merit: 4
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December 30, 2013, 10:56:39 PM |
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MoNxO
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December 30, 2013, 11:19:22 PM |
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Don't even listen lol
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Let's Color the MOON: YMnKCParE88kWBDqWieWhbra1w56F9SyaZ
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Newmine
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December 30, 2013, 11:37:03 PM |
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This seems to be an error in the block explorer. My wallet doesn't show multiple payouts from a block. Your calculations may be correct, though I don't know how you think you could reliably estimate what he got from honoring MemoryCoin 1 and PTS. The 2 positions he is holding definitely add up to >20k until now. I still don't see why this should be a bad thing. I think it's crap that he weighted the vote. If you look at the explorer he has only about 20 votes and he has collected ~24k in coins because of that weight which is making him more untouchable. I am pretty sure I have made connections that he received 17726, and 5000 from the genesis block by the way it was filtered through accounts before and after voting. Still connecting some other addresses (2k from mining another 16k genesis and a few others) but between the 24k received from the positions and the 23k above, it's pretty safe to say he has at the least 47k MMC not including any mining he has done. I will post a chart later. The reason I care so much is he established himself as controller. He has made the coin about him and his greed. He can manipulate the vote to his favor and keep collecting coins. He had about 20 votes earlier today. 20 votes! It would probably take someone hundreds of votes with the amount of weight he has to unseat him and guess what? No one is successfully running against him and virtually nobody has voted for him except himself and a couple other officers. He has to much power for a decentralized currency. There is reason why people stay away from premined coins, because someone is getting an unfair advantage. He is giving himself an advantage over you and the miners. Besides isn't it just a good old conflict of interest? This how I imagine his inner dialogue, "Technically not going to premine for my own benefit but rather for Memorycoin beta failure and PTS then create positions and vote myself in with my share of the genesis so I can keep racking in the coins". "Oh yeah, and my genesis share is worth more than any other  ". Does anyone else see this? I get that people here a invested and want to make some dough, but no one else is concerned? |
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ruletheworld
Legendary
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Activity: 1386
Merit: 1045
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December 30, 2013, 11:42:27 PM |
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This seems to be an error in the block explorer. My wallet doesn't show multiple payouts from a block. Your calculations may be correct, though I don't know how you think you could reliably estimate what he got from honoring MemoryCoin 1 and PTS. The 2 positions he is holding definitely add up to >20k until now. I still don't see why this should be a bad thing. I think it's crap that he weighted the vote. If you look at the explorer he has only about 20 votes and he has collected ~24k in coins because of that weight which is making him more untouchable. I am pretty sure I have made connections that he received 17726, and 5000 from the genesis block by the way it was filtered through accounts before and after voting. Still connecting some other addresses (2k from mining another 16k genesis and a few others) but between the 24k received from the positions and the 23k above, it's pretty safe to say he has at the least 47k MMC not including any mining he has done. I will post a chart later. The reason I care so much is he established himself as controller. He has made the coin about him and his greed. He can manipulate the vote to his favor and keep collecting coins. He had about 20 votes earlier today. 20 votes! It would probably take someone hundreds of votes with the amount of weight he has to unseat him and guess what? No one is successfully running against him and virtually nobody has voted for him except himself and a couple other officers. He has to much power for a decentralized currency. There is reason why people stay away from premined coins, because someone is getting an unfair advantage. He is giving himself an advantage over you and the miners. Besides isn't it just a good old conflict of interest? This how I imagine his inner dialogue, "Technically not going to premine for my own benefit but rather for Memorycoin beta failure and PTS then create positions and vote myself in with my share of the genesis so I can keep racking in the coins". "Oh yeah, and my genesis share is worth more than any other ". Does anyone else see this? I get that people here a invested and want to make some dough, but no one else is concerned? Do you propose any other candidate other than the dev for these roles? |
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seraphim_bts
Newbie
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Activity: 57
Merit: 0
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December 30, 2013, 11:44:50 PM |
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if the votes wouldn't be weighted, you could vote from multiple addresses and win a vote by creating millions of them...
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Newmine
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December 31, 2013, 12:16:06 AM |
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Not if you put a minimum amount of 1 MMC per address and a one vote per wallet. A bi-weekly vote with a 30 minute voting window or something like that. Or I know, don't have any positions at all and let the miners mine and find incentive to keep the coin flourishing.
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seraphim_bts
Newbie
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Activity: 57
Merit: 0
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December 31, 2013, 12:33:03 AM |
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per wallet?
it seems you don't even grasp the basics of what a wallet is. that's not possible.
even if it was - you'd make multiple wallets to manipulate the votes. doesn't change anything.
a 30 minute voting windows is also great for a decentralized product. what timezone do you propose?
you just troll around without offering good alternatives. if you don't like the idea of honoring people for dedicated work on a coin, why do you even bother with the only one out there which makes use of this concept?
what do you think where it's current value comes from? because it's a new idea and a promising concept, if the the jobs are done well! and i think they are (while there's still room to improve, but again, where are the better candidates?)
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Delinquency
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December 31, 2013, 12:46:37 AM |
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Freetrade,
With these numbers, I believe that Memorycoin 2.0 is NOT GPU resistant.
The R280x GPU can mine 22 HPM with a price at around $420.
That is around $20 per H/m. That is way too profitable for GPUs as opposed to CPUs.
The H/m equipment cost should be around $150 per H/m for CPU miners.
This is a big problem and I hope that you can correct this matter, either by forking MMC by using a new, more GPU resistant algorithm when starting Memorycoin 3.0.
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surfer43
Sr. Member
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Activity: 560
Merit: 250
"Trading Platform of The Future!"
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December 31, 2013, 12:57:48 AM |
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Would it be profitable to use https://www.warriorvps.com/ to mine memorycoin with a Intel Core i7-4770 and 2 GB RAM for $20 a month?  |
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phrozenspite
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December 31, 2013, 12:57:59 AM |
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if the mining hardware data linked from the memorycoin main page is accurate then my GPU is outperforming my CPU by a minimum of 10x
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FreeTrade (OP)
Legendary
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Activity: 1428
Merit: 1030
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December 31, 2013, 12:58:07 AM |
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Freetrade,
With these numbers, I believe that Memorycoin 2.0 is NOT GPU resistant.
The R280x GPU can mine 22 HPM with a price at around $420.
That is around $20 per H/m. That is way too profitable for GPUs as opposed to CPUs.
The H/m equipment cost should be around $150 per H/m for CPU miners.
This is a big problem and I hope that you can correct this matter, either by forking MMC by using a new, more GPU resistant algorithm when starting Memorycoin 3.0.
If you already have the GPUs, you'll certainly want to use them. The aim here is to make it unprofitable for people to go into business (with large GPU capital cost) because they'll be competing against a wide range of CPUs that have no capital cost (because they have already been purchased). Eventually the price of MemoryCoin should be the same as the electricity required to mine it. There's a window at the moment for profit, (because the knowledge is not widespread yet, and there is significant appreciation potential), but long term, things are working out exactly as intended. |
Membercoin - Layer 1 Coin used for the member.cash decentralized social network. 10% Interest On All Balances. Browser and Solo Mining. 100% Distributed to Users and Developers.
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FreeTrade (OP)
Legendary
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December 31, 2013, 01:00:52 AM |
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if the mining hardware data linked from the memorycoin main page is accurate then my GPU is outperforming my CPU by a minimum of 10x
. . . and my bicycle is ten times as fast as my car! My point is that the models are important. I think, per dollar, you might see 2X or 3X gains for GPUs performance wise. Might come at an energy-efficiency cost too. |
Membercoin - Layer 1 Coin used for the member.cash decentralized social network. 10% Interest On All Balances. Browser and Solo Mining. 100% Distributed to Users and Developers.
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Delinquency
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December 31, 2013, 01:12:21 AM
Last edit: December 31, 2013, 01:36:42 AM by Delinquency |
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if the mining hardware data linked from the memorycoin main page is accurate then my GPU is outperforming my CPU by a minimum of 10x
. . . and my bicycle is ten times as fast as my car! My point is that the models are important. I think, per dollar, you might see 2X or 3X gains for GPUs performance wise. Might come at an energy-efficiency cost too. $100 per H/m is a bargain for CPU mining. $20 per H/m is for GPU mining. It is also 5X more efficient than CPU mining with the same capital cost. GPU mining is 4 or more times more energy efficient than CPU mining. Now the fact that you think the market will pull through: Lower electricity costs pull down MMC/$. The advance of technology will morph GPU efficiency and will become more efficient (Power Wise) --This will be enough incentive to capitalize by buying GPU cards and mine at a cheaper electricity cost. Selling your MMC at a discounted rate due to the lower rate of electricity required to generate it will eventually find a way to cut off CPU mining. This is just my opinion for the matter.  |
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FreeTrade (OP)
Legendary
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Activity: 1428
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December 31, 2013, 01:21:29 AM |
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Membercoin - Layer 1 Coin used for the member.cash decentralized social network. 10% Interest On All Balances. Browser and Solo Mining. 100% Distributed to Users and Developers.
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nomullet
Newbie
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Activity: 22
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December 31, 2013, 01:32:03 AM |
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You can undervolt the AMD 8350 quite a bit- mines @ 1.32v 4.4ghz, board says 111w. I'd test it against the plug but don't have a meter.
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Delinquency
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December 31, 2013, 01:34:58 AM |
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You can undervolt the AMD 8350 quite a bit- mines @ 1.32v 4.4ghz, board says 111w. I'd test it against the plug but don't have a meter.
You can still understand that the power consumption is inefficient vs. GPU. |
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