8th Alt coin thread. Or what to do now that asics are all over the place.

[Elder III]

Nobody should be using their student loans for anything other then education... :/

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[philipma1957]

Nobody should be using their student loans for anything other then education... :/

Speaking from the age of ?


BTW  you are correct but 18-22 year old boys/men  don't think like 60 year old  men.

[HagssFIN]

Nobody should be using their student loans for anything other then education... :/

Speaking from the age of ?


BTW  you are correct but 18-22 year old boys/men  don't think like 60 men.

I was lucky to have no need to take any loan during my electrical engineering studies.

Working as a part-time electrician, the Finnish study aid and mining made it possible for me.

[philipma1957]

Nobody should be using their student loans for anything other then education... :/

Speaking from the age of ?


BTW  you are correct but 18-22 year old boys/men  don't think like 60 men.

I was lucky to have no need to take any loan during my electrical engineering studies.

Working as a part-time electrician, the Finnish study aid and mining made it possible for me.

I used Veterans bill.
I went to Queens college  in New York in the 1980's.
600 a semester
1200 a year plus books
The veterans paid 2700 a year
I had to have a 3.0 grade avg
So basically  I made a few dollars going to college.

[dragonmike]

Just the last 4 lines are all you need

Run geth with the console setting "geth console"
Make a new wallet and use any password (you wont use this wallet)
After that a new directory should be created in your folder, I think its called "wallets" go there and erase the new wallet and replace with your wallet you want to use.

Unlock using
personal.unlockAccount(eth.accounts[0], "my pwd here")


Write a raw transaction using

eth.signTransaction({ from: "SOURCE_ADDRESS", to: "DESTINATION_ADDRESS", value: web3.toWei(3210, "ether"), nonce: 40 })

3210, is how much ether to send
40 is the nonce, if sending for the first time from that address use 0 or 1 (i forgot which ). If you enter the wrong nonce, it will just get rejected, no big deal.

GO to any ETH block explorer and broadcast your transaction hash.

Error: gas not specified

EDIT: nevermind. I used eth.sendTransaction instead. Worked.

[philipma1957]

Just the last 4 lines are all you need

Run geth with the console setting "geth console"
Make a new wallet and use any password (you wont use this wallet)
After that a new directory should be created in your folder, I think its called "wallets" go there and erase the new wallet and replace with your wallet you want to use.

Unlock using
personal.unlockAccount(eth.accounts[0], "my pwd here")


Write a raw transaction using

eth.signTransaction({ from: "SOURCE_ADDRESS", to: "DESTINATION_ADDRESS", value: web3.toWei(3210, "ether"), nonce: 40 })

3210, is how much ether to send
40 is the nonce, if sending for the first time from that address use 0 or 1 (i forgot which ). If you enter the wrong nonce, it will just get rejected, no big deal.

GO to any ETH block explorer and broadcast your transaction hash.

Error: gas not specified

EDIT: nevermind. I used eth.sendTransaction instead. Worked.

I am going to have to try to do this.

[soothaa]

BTW  you are correct but 18-22 year old boys/men  don't think like 60 year old  men.

Hey. Some of us have always thought decades ahead. I worked through high school and college, graduated debt free, saved everything I could, never blew money on stupid shit

[JaredKaragen]

BTW  you are correct but 18-22 year old boys/men  don't think like 60 year old  men.

Hey. Some of us have always thought decades ahead. I worked through high school and college, graduated debt free, saved everything I could, never blew money on stupid shit

This all boils down to the #1 rule of investment:  Do not invest what you can't afford to lose.

Being ignorant of your own decisions is no excuse regardless of any outcome.

[philipma1957]

BTW  you are correct but 18-22 year old boys/men  don't think like 60 year old  men.

Hey. Some of us have always thought decades ahead. I worked through high school and college, graduated debt free, saved everything I could, never blew money on stupid shit

This all boils down to the #1 rule of investment:  Do not invest what you can't afford to lose.

Being ignorant of your own decisions is no excuse regardless of any outcome.

Yeah sad if someone killed themselves over this. But they won't be the last to do it .

Hopefully it helps people put in a few toes at first and not jump in head first  without know how deep the water is.

[dragonmike]

Just the last 4 lines are all you need

Run geth with the console setting "geth console"
Make a new wallet and use any password (you wont use this wallet)
After that a new directory should be created in your folder, I think its called "wallets" go there and erase the new wallet and replace with your wallet you want to use.

Unlock using
personal.unlockAccount(eth.accounts[0], "my pwd here")


Write a raw transaction using

eth.signTransaction({ from: "SOURCE_ADDRESS", to: "DESTINATION_ADDRESS", value: web3.toWei(3210, "ether"), nonce: 40 })

3210, is how much ether to send
40 is the nonce, if sending for the first time from that address use 0 or 1 (i forgot which ). If you enter the wrong nonce, it will just get rejected, no big deal.

GO to any ETH block explorer and broadcast your transaction hash.

Error: gas not specified

EDIT: nevermind. I used eth.sendTransaction instead. Worked.

I am going to have to try to do this.

Yeah, so I added a couple of parameters first. Created a .bat file with the following command line:

geth.exe console --datadir="here the path to my ETH chain data" --syncmode=light
(check the syntax, not 100% sure as I'm not at my PC right now)
That prevents it from downloading and creating an entire new blockchain in case you haven't used the default directory to store it.

Then in the console I just used these commands in order:

personal.unlockAccount(eth.accounts[0], "my pwd here")

eth.sendTransaction({ from: "SOURCE_ADDRESS", to: "DESTINATION_ADDRESS", value: web3.toWei(3210, "ether"), nonce: 40 })

(replacing the passwords, addresses, amount and noonce by my respective values).

Tested with a small amount first to make sure that worked as intended.

[MagicSmoker]

This all boils down to the #1 rule of investment:  Do not invest what you can't afford to lose.
...

And it seems this rule has to be learned the hard way about 90% of the time!

[nsummy]

So two builds of vega run well

they  turn profit  small  but profit.

I am waiting on the fork  to help things out.

my rtx 2080 is due in 16 days

all in all not much

oh acorn 215+ due in sept

Yeah things are starting to get out of hand, especially with ETH.

No idea if its true or not but apparently some mother of her child posted on Twitter/Reddit/Facebook (don't remember which) that her kid ended up committing suicide because he used his student loans to buy ETH and he got very depressed and couldn't take it anymore.

No idea if its true. With what people post on the internet it could all be a joke.

I found the link on Reddit but can't located it anymore, if someone knows what I am talking about post the link.

I think this is fake, or hoping it is.  I mean even if he/she bought at a the all-time high. it hasn't even been a year.  Yes its down 80%, but obviously it will recover.  Its not like they put their life savings into Enron or Worldcom with zero chance of getting a cent.

[nsummy]

BTW  you are correct but 18-22 year old boys/men  don't think like 60 year old  men.

Hey. Some of us have always thought decades ahead. I worked through high school and college, graduated debt free, saved everything I could, never blew money on stupid shit

This all boils down to the #1 rule of investment:  Do not invest what you can't afford to lose.

Being ignorant of your own decisions is no excuse regardless of any outcome.

Even more so with student loans.  Plenty of people lose their asses in investments but at the end of the day, there is always bankruptcy if it gets that bad.  Student loans are for life!

[nsummy]

What do people know about the Cuckoo Cycle by John Tromp?  I recently read about it in an Alt ANN, but hadn't heard about it before.

Memory bound; graph-theory.

Does anyone have any experience mining with it?  The concept of being memory bound seems similar to Equihash, but a bit different in its implementation.

claims to be asic friendly so it is worthless.


Sounds harsh but we don't need asic  friendly coins or algos.


If all the world is a perfect super highway (asics)  what good is it without cars too drive on it?(gpus)

Now does this mean I hate asics no I don't.

It does mean we need

Fpga coins
GPU coins
CPU coins

I would respectfully disagree.  What we need is new (actually new) coin ideas, algos, protocols, etc.  It is truly the only thing that will keep moving the crypto market forward, regardless of what is used to mine it.  When you always referred to these superhighway coins I thought you were referring to coins like bitcoin, that have a stable store of value, wide acceptance, and the ability to reliably move large sums of money.  I didn't think it was total hashrate.

I think any time a coin becomes successful, you will eventually see an ASIC for it.  You see these new "asic-resistant" coins and algos pop up often, but most of the time they don't offer anything new, don't solve any problems, or contribute nothing other than the fact that they can be mined with a GPU.  As you said, we need all types of coins.  But I think worrying about asics, fpga, gpus, before coins with actual utility, is putting the cart in front of the horse.

With all that said, calling the Cuckoo Cycle asic "friendly" is a little bit of a misnomer and actually a recent development.  The algo wasn't designed with this in mind, but after seeing that there are now Equihash ASICs,  the developer realized that this is possible, abet much more expensive;   He is a computer scientist so while he developed that algo, he didn't do it for a specific coin.  He has also kind of echoed your thoughts Phil when it comes to electricity cost.  He says regardless of the algo, centralization will always be an issue due to countries like China having cheap electricity.

His motivation for creating it:

"Yes, the main motivation was to provide a good alternative to compute bound PoWs like bitcoin's, with potentially less centralization, as hardware investment costs would potentially dominate ongoing energy costs. But I considered scrypt to be a failure as verification cost grows with the memory use. So I wanted to combine requirements of huge memory use with instant verifiability. In the end, the arrival of faster bandwidth bound solvers makes it somewhat less egalitarian than a latency boud one."

[QuintLeo]

The best vega 56 are the original blower fan type,as you can flash them with vega 64 bios and have almost same perf > 2000H/s

Capable of 1950 more or less with NO bios flash, for that matter, in the case of my Sapphire.

[philipma1957]

What do people know about the Cuckoo Cycle by John Tromp?  I recently read about it in an Alt ANN, but hadn't heard about it before.

Memory bound; graph-theory.

Does anyone have any experience mining with it?  The concept of being memory bound seems similar to Equihash, but a bit different in its implementation.

claims to be asic friendly so it is worthless.


Sounds harsh but we don't need asic  friendly coins or algos.


If all the world is a perfect super highway (asics)  what good is it without cars too drive on it?(gpus)

Now does this mean I hate asics no I don't.

It does mean we need

Fpga coins
GPU coins
CPU coins

I would respectfully disagree.  What we need is new (actually new) coin ideas, algos, protocols, etc.  It is truly the only thing that will keep moving the crypto market forward, regardless of what is used to mine it.  When you always referred to these superhighway coins I thought you were referring to coins like bitcoin, that have a stable store of value, wide acceptance, and the ability to reliably move large sums of money.  I didn't think it was total hashrate.

I think any time a coin becomes successful, you will eventually see an ASIC for it.  You see these new "asic-resistant" coins and algos pop up often, but most of the time they don't offer anything new, don't solve any problems, or contribute nothing other than the fact that they can be mined with a GPU.  As you said, we need all types of coins.  But I think worrying about asics, fpga, gpus, before coins with actual utility, is putting the cart in front of the horse.

With all that said, calling the Cuckoo Cycle asic "friendly" is a little bit of a misnomer and actually a recent development.  The algo wasn't designed with this in mind, but after seeing that there are now Equihash ASICs,  the developer realized that this is possible, abet much more expensive;   He is a computer scientist so while he developed that algo, he didn't do it for a specific coin.  He has also kind of echoed your thoughts Phil when it comes to electricity cost.  He says regardless of the algo, centralization will always be an issue due to countries like China having cheap electricity.

His motivation for creating it:

"Yes, the main motivation was to provide a good alternative to compute bound PoWs like bitcoin's, with potentially less centralization, as hardware investment costs would potentially dominate ongoing energy costs. But I considered scrypt to be a failure as verification cost grows with the memory use. So I wanted to combine requirements of huge memory use with instant verifiability. In the end, the arrival of faster bandwidth bound solvers makes it somewhat less egalitarian than a latency boud one."

Okay there are more then 1 way to skin a cat.  I hate talking or blogging as my eyes are shit (double cataract surgery will do that) I make a lot of typos and if you really try to be fully clear in a post people tune it out because it is long.


 I read the paper quickly saw asic friendly and was turned off my bad.
But here goes I want :


cpu coins
gpu coins
fpga coins
asic coins

same as I want bikes cars buses highways.  It allows most everyone access to coin creation.

I want POW
I want POW Hybrid with Pos

I don't want POS

I have zero problem with power used to mine a coin as I see longer term result if coins succeed they become a rebate for solar power wind power non- fuel power.

Mining coins has paid off buysolar's solar array in 3 years.
Here in a solar friendly state give me a million bucks and I will get you a solar array that pays off in under 8 years even with shit profit margins like now.

I could revisit that coin and try not to be turned off by it inviting asics to mine it.

For now my focus is on coins working to fight off asics ie BTG or XMR or others. I want gpus to at least get back up to grinding out dimes and quarters not losing outright.

[nsummy]

What do people know about the Cuckoo Cycle by John Tromp?  I recently read about it in an Alt ANN, but hadn't heard about it before.

Memory bound; graph-theory.

Does anyone have any experience mining with it?  The concept of being memory bound seems similar to Equihash, but a bit different in its implementation.

I am mining it right now.  Merit uses it, and as far as I know its the only coin on a mainnet using it.  Aeternity is probably the closest to launching their mainnet (around November).  Then there is Raddi, Veres One, and Grin (this last one confuses me).  As for mining, it is still in its infancy.  For the best performance CPU resources are needed.  So using 8 GPUs with with a celeron will bottleneck performance.  John has paid out some rather large bounties for developers to demonstrate (and make open source) higher mining performance.  I could easily see Merit becoming a sort of paypal or Venmo for the crypto space.  The invite system right now is a little goofy, but really no different than the way services like gmail started.

[nsummy]

What do people know about the Cuckoo Cycle by John Tromp?  I recently read about it in an Alt ANN, but hadn't heard about it before.

Memory bound; graph-theory.

Does anyone have any experience mining with it?  The concept of being memory bound seems similar to Equihash, but a bit different in its implementation.

claims to be asic friendly so it is worthless.


Sounds harsh but we don't need asic  friendly coins or algos.


If all the world is a perfect super highway (asics)  what good is it without cars too drive on it?(gpus)

Now does this mean I hate asics no I don't.

It does mean we need

Fpga coins
GPU coins
CPU coins

I would respectfully disagree.  What we need is new (actually new) coin ideas, algos, protocols, etc.  It is truly the only thing that will keep moving the crypto market forward, regardless of what is used to mine it.  When you always referred to these superhighway coins I thought you were referring to coins like bitcoin, that have a stable store of value, wide acceptance, and the ability to reliably move large sums of money.  I didn't think it was total hashrate.

I think any time a coin becomes successful, you will eventually see an ASIC for it.  You see these new "asic-resistant" coins and algos pop up often, but most of the time they don't offer anything new, don't solve any problems, or contribute nothing other than the fact that they can be mined with a GPU.  As you said, we need all types of coins.  But I think worrying about asics, fpga, gpus, before coins with actual utility, is putting the cart in front of the horse.

With all that said, calling the Cuckoo Cycle asic "friendly" is a little bit of a misnomer and actually a recent development.  The algo wasn't designed with this in mind, but after seeing that there are now Equihash ASICs,  the developer realized that this is possible, abet much more expensive;   He is a computer scientist so while he developed that algo, he didn't do it for a specific coin.  He has also kind of echoed your thoughts Phil when it comes to electricity cost.  He says regardless of the algo, centralization will always be an issue due to countries like China having cheap electricity.

His motivation for creating it:

"Yes, the main motivation was to provide a good alternative to compute bound PoWs like bitcoin's, with potentially less centralization, as hardware investment costs would potentially dominate ongoing energy costs. But I considered scrypt to be a failure as verification cost grows with the memory use. So I wanted to combine requirements of huge memory use with instant verifiability. In the end, the arrival of faster bandwidth bound solvers makes it somewhat less egalitarian than a latency boud one."

Okay there are more then 1 way to skin a cat.  I hate talking or blogging as my eyes are shit (double cataract surgery will do that) I make a lot of typos and if you really try to be fully clear in a post people tune it out because it is long.


 I read the paper quickly saw asic friendly and was turned off my bad.
But here goes I want :


cpu coins
gpu coins
fpga coins
asic coins

same as I want bikes cars buses highways.  It allows most everyone access to coin creation.

I want POW
I want POW Hybrid with Pos

I don't want POS

I have zero problem with power used to mine a coin as I see longer term result if coins succeed they become a rebate for solar power wind power non- fuel power.

Mining coins has paid off buysolar's solar array in 3 years.
Here in a solar friendly state give me a million bucks and I will get you a solar array that pays off in under 8 years even with shit profit margins like now.

I could revisit that coin and try not to be turned off by it inviting asics to mine it.

For now my focus is on coins working to fight off asics ie BTG or XMR or others. I want gpus to at least get back up to grinding out dimes and quarters not losing outright.

Yah to be honest, you would have had to have went to the aeternity forum to get the asic info as the github readme doesn't spell it out.  The developer is from the Netherlands so there may be a slight language barrier when he calls it friendly.  Also keep in mind the Cuckoo Cycle is an algorithm, not a coin.  He developed the algo, some coins have decided to use it on their own accord.

[adaseb]

Just the last 4 lines are all you need

Run geth with the console setting "geth console"
Make a new wallet and use any password (you wont use this wallet)
After that a new directory should be created in your folder, I think its called "wallets" go there and erase the new wallet and replace with your wallet you want to use.

Unlock using
personal.unlockAccount(eth.accounts[0], "my pwd here")


Write a raw transaction using

eth.signTransaction({ from: "SOURCE_ADDRESS", to: "DESTINATION_ADDRESS", value: web3.toWei(3210, "ether"), nonce: 40 })

3210, is how much ether to send
40 is the nonce, if sending for the first time from that address use 0 or 1 (i forgot which ). If you enter the wrong nonce, it will just get rejected, no big deal.

GO to any ETH block explorer and broadcast your transaction hash.

Error: gas not specified

EDIT: nevermind. I used eth.sendTransaction instead. Worked.

I am going to have to try to do this.

Yeah, so I added a couple of parameters first. Created a .bat file with the following command line:

geth.exe console --datadir="here the path to my ETH chain data" --syncmode=light
(check the syntax, not 100% sure as I'm not at my PC right now)
That prevents it from downloading and creating an entire new blockchain in case you haven't used the default directory to store it.

Then in the console I just used these commands in order:

personal.unlockAccount(eth.accounts[0], "my pwd here")

eth.sendTransaction({ from: "SOURCE_ADDRESS", to: "DESTINATION_ADDRESS", value: web3.toWei(3210, "ether"), nonce: 40 })

(replacing the passwords, addresses, amount and noonce by my respective values).

Tested with a small amount first to make sure that worked as intended.

I am glad that it worked for you. Maybe with the last fork November they required you to specify the gas price. I remember I just used the default gas price and it eventually confirmed and sent.

But I think to prevent transactions from being stuck forever, I think now you are forced to specific the Gas Limit and the Gas Price.

All you do I think is just add the parameters to the eth.sendTransaction or eth.signTransaction.

Before you send it, it shows you all the assigned values and default values in an excel type format, and you just manually change the Gas and Gas Limit and try to send it again.

One thing where ETH exceeds in BTC is you don't need to download the entire blockchain to send your unspent inputs. It automatically does this for you. So its perfect for cold storage. Because it would be a pain downloading 700Gb.

[dragonmike]

I think this is fake, or hoping it is.  I mean even if he/she bought at a the all-time high. it hasn't even been a year.  Yes its down 80%, but obviously it will recover.

Here's a curve ball.
What if blockchain technology did not need cryptocurrency?

If the next years show blockchain tech get adopted more and more in permissioned environments, there is no need to reward the private actors/miners with currency.

The great dream of decentralisation and distributed ledger for the masses could be falling flat on its face. Permission-less blockchains could become a thing of the past and/or be relegated to github, i.e. open-source development.

...and I would let you figure out what that would mean for 99% of altcoin prices.