[ANN][MOON] Mooncoin: You know where it's headed! KGW exploit FIXED 4/3/2014

[coinflow]

ok i also bought some and i am also mining in the pool. Just i couldnt understand so far about altcoins is "how mining difficulty can go low?". i was expecting difficulty always goes up, innit?

If you get less and less people mining a coin the difficulty goes down. Sometimes a big pool starts mining a coin, pushes the difficulty up to very high levels, then leaves and waits until the difficulty drops down again because only a few people are left mining it.

If the price doesn't drop also, it is a good time to mine then - because the profit rises. So mining MOON is nice with a difficulty below 3 and the price staying at 5 Litoshi.  

[coinflow]

Hi,

I wanted to get some moon coin but i dont have any bitcoin or litecoin so i couldnt buy. can someone also send some to me?

2EkjuiSTawSxPcFg77xW5mDnrj1SDPqWbm

Also sent you some. So with utahjohns 100 you should have 10000 now, too.

[coinflow]

ok i also bought some and i am also mining in the pool. Just i couldnt understand so far about altcoins is "how mining difficulty can go low?". i was expecting difficulty always goes up, innit?

The concept of the difficulty is to be a means to stabilize the coin as such. Since new coins are issued by mining as a reward for the miners doing the computational work to confirm transactions, it adapts to the hashing-power after a certain time. So if more and more miners mine, because the price of a coin is rising, the difficulty is following with a delay to not let only some miners mine all available coins, but let the mining-power solve roughly all the time the same amount of blocks in a given timeframe. The same (only vice versa) happens, when the hashrate is dropping, maybe because the price of the coin is falling, or some miners think, another coin could be more profitable to mine, hence leaving the coin's P2P-network. Then the difficulty is dropping slowly after that, in order to always keep the average time, that was concepted to solve a block (which means transactions are confirmed), on the targeted level.

[utahjohn]

OK so we have some users willing to take over development of this coin   I suggest move to X11 or groestl algorithm.  Evolution is key to survival ~

[coinflow]

OK so we have some users willing to take over development of this coin  I suggest move to X11 or groestl algorithm.  Evolution is key to survival ~

But like in evolution, not all changes are to the good. I'd like to hear some arguments for another algorithm. What, if X11 and the likes can be mined, too, with ASICs in the not-so-far-future? Do we have to change again, then? What are the long term advantages of Groestl etc.?

[utahjohn]

My main concern is moving away from scrypt and scrypt-n, asic's are going to take these over and leave small GPU/CPU miners in the dust.  X11 and groestl both have much lower power consumption which is a large factor in profitability.  I am holding my MOON in hopes that it does become viable again.
Have a look at Diamondcoin v2 (DMD) https://bitcointalk.org/index.php?topic=580725.0 which forked to groestl and is now recovering

Alpha-t.net is going to be shipping their 50+MHs and 250+MHs scrypt asic mining rigs in late July ...

[coinflow]

My main concern is moving away from scrypt and scrypt-n, asic's are going to take these over and leave small GPU/CPU miners in the dust.  X11 and groestl both have much lower power consumption which is a large factor in profitability.  I am holding my MOON in hopes that it does become viable again.
Have a look at Diamondcoin v2 (DMD) https://bitcointalk.org/index.php?topic=580725.0 which forked to groestl and is now recovering

Alpha-t.net is going to be shipping their 50+MHs and 250+MHs scrypt asic mining rigs in late July ...

The first big Scrypt-ASIC-machines are out already. Think of the Innosilicon- or the GAW-ones. They are hashing already.
In my opinion another algorithm does not solve problems other than the fulfilling of hopes of miners to have better profitability with their GPUs. But to be honest, the time for GPU-mining with its complicated setup is over, if you ask me. So why should Mooncoin saddle over to an already dead horse? Why isn't Bitcoin already dead? It uses an even more uneconomical algorithm in terms of power consumption. I'm strongly for everything, that keeps power consumption low, but if that would be the main goal, we could also switch over completely to Proof of Stake, eliminating all need to mine and complicated setup of mining-equipment altogether.

[986016977]

Hi,guys,how about changing POW into POS?
You can read here:https://bitcointalk.org/index.php?topic=565623.msg7463459#msg7463459

[tarazano]

I decided this coin might have future and i will promote but could anybody donate me some
2Rvu4FstAw5J6dby5rE2sNP5Uo45iBJv2f

Sent you 10000, but you could really buy the next 10000 (or more  ;-)  ) at one of the exchanges. For example here:

https://www.cryptsy.com/markets/view/145
https://www.swisscex.com/market/MOON_LTC
https://coinedup.com/OrderBook?market=MOON&base=LTC

thank you very much.

I just lost 30000 on this website https://coin-horse.com/MON/

Will get more

[utahjohn]

Any updates from the developers on the future direction of MOON ?

[coinflow]

Any updates from the developers on the future direction of MOON ?

Did you read this:
http://www.reddit.com/r/MoonCoin/comments/28hd19/fresh_mods/

... and this:
http://www.reddit.com/r/MoonCoin/comments/28n4kp/official_update_june_20th_2014/

... already?

[coinflow]

With so much hashrate going to hit all at once right at the off, I'm wondering if there is really any point.
What's the starting difficulty going to be? Isn't it just going to be a massive orphan fest?

Don't know what you mean exactly, but the difficulty rising does not mean automatically to have many orphans, since if you mine in a pool with vardiff for example, the share-/work-difficulty will be set according to the hashrate one adds to the pool. So someone with big power will get higher share-difficulties, someone with only a little power will get shares that are easier to solve. So that the average rate of any solved share presented back to the pool will be sent in roughly the same timeframe. IF the pool uses vardiff, AND/OR you can set the diff for your device manually in the pools settings. For example P2Pool constantly adjusts the share-difficulty to the rate of your device, but you can also add a preset to the address that you mine to (format/example: 2DAMoonT94308uyxfdj7349367sadkj+0.0000016), in order to tell the pool, that you don't want to get lower diff shares than the preset, to save you from too much work that does not fit your miner. On multipool.us for example you can preset a difficulty in the settings on their site.
Hope this helps.

[gjhiggins]

http://www.reddit.com/r/MoonCoin/comments/28hd19/fresh_mods/

Brown-bagging from my response there ... just to let you know ...

Hello Moonies!

A developed sense of identity is invariably accompanied by a distinguishing label.

Cheers,

Graham

still impressed with:

Altcoiner: to the mooon!
Moonie: Certainly, single or return?

[coinflow]

Altcoiner: to the mooon!
Moonie: Certainly, single or return?

 

BTW: What do you think of Proof of Stake? A good thing for Mooncoin, too? What I like with POS is that you don't have to "waste" plenty of electricity only to find blocks ...

Edit:
Maybe interesting to to read for all that don't know POS already: http://bitcoinmagazine.com/6528/

[gjhiggins]

Altcoiner: to the mooon!
Moonie: Certainly, single or return?

 

BTW: What do you think of Proof of Stake? A good thing for Mooncoin, too? What I like with POS is that you don't have to "waste" plenty of electricity only to find blocks ...

There are pros and cons with PoS. I'll research the issue and present a technical appreciation.

Is wasting energy your primary concern? Any others come to mind?

What say the Moonies? Want me to look at anything specific?

Cheers

Graham

[utahjohn]

BTW: What do you think of Proof of Stake? A good thing for Mooncoin, too? What I like with POS is that you don't have to "waste" plenty of electricity only to find blocks ...

There are pros and cons with PoS. I'll research the issue and present a technical appreciation.

Is wasting energy your primary concern? Any others come to mind?

What say the Moonies? Want me to look at anything specific?

Energy cost quite high in my area!  alternate algo X11 or groestl can help
PoS would be awesome for bagholders such as myself

I am not currently mining MOON because it is no longer profitable for GPU to me.
I am currently solo mining DMD which has PoS and uses groestl

[gjhiggins]

There are pros and cons with PoS.

A case in point.

https://bitcointalk.org/index.php?topic=613213.msg7475135#msg7475135

I must admit I have yet to try and classify the PoS implementation variants.

Cheers,

Graham

[jommy99]

Here is what Pandacoin PND did https://bitcointalk.org/index.php?topic=572462
And since going 100% PoS we have been growing and advancing very well.

our new thread  https://bitcointalk.org/index.php?topic=632657.0

[gjhiggins]

Here is what Pandacoin PND did https://bitcointalk.org/index.php?topic=572462

Thanks for the pointer, the discussion makes for interesting reading. I was a bit surprised not to see at least some numerical analysis, did no-one contribute any figures or graphs? Perhaps that happened in a different communications channel.

The PoW phase was curtailed to 32 billion coins. Is 100 billion still expected to be the total number of Pandacoin PND generated under the new 100% PoS scheme?

And since going 100% PoS we have been growing and advancing very well.

That sounds very positive.

I don't believe that we can point to any tangible consensus on the metrics and instrumentation of Mooncoin's performance, we have yet to tackle that issue. And whilst we Moonies will obviously have to choose a metrics and measurement approach that is appropriate to Mooncoin's objectives, I'm always interested in developing my understanding of the pros and cons of different ways to measure a coin's performance; how is Pandacoin PND's growth and advancement measured?

I'm sure Moonies would appreciate some food for thought when considering metrics, instrumentation and aims so I'll quote the intro text from the OP and the About page - it uses a broad, soft brush but I think the picture is painted well enough to mark out the playing field:

Mooncoin. You know where it’s headed.

Won’t you tag along for the ride?

With over 384 billion MOON available, there is one coin for each millimeter of distance from the Earth to the Moon!

Mooncoin is intended to provide the thrill of big coin hunting and trading but with long-term stability. Based on sane block release targets, Mooncoin should provide years of good mining for all ages and equipment types.

Cheers,

Graham

[jommy99]

Well let me try to give you some idea of what has occurred with Pandacoin PND,  results will likely vary but prior to our PoS discussion we were down to little activity very low prices of 5 or so litoshi.  Sites supporting PND were shutting down, and the end seemed to be just a matter of time as everyone mining seemed to keep selling lower and there wasn't much lower to go.  Our devs did open to new ideas and the community started to brainstorm, we discussed PoS and multipool.  We actually just started with a multipool in tandem with POW mining and open discussions on new developments coming...
Our activity increased by getting the community more involved,  the price began to lift slowly and we started the voting and much was discussed on our IRC but our bct and reddit started getting more active. Our Pandacoin PND coin had a 51% attack attempted but failed as our dev noticed we were being attacked and used the multipool power to fend off the attack barely.  We as a community started growing and getting some small amount of new attention and interest...   we have gone from 1 or 2 original devs now to 12+  dedicated professionals, lots of new sites and services all the time, Coin value has smoothly been rising overall  but the excitement in the community has been exceptional.  We feel Pandacoin PND is still very undervalued but try not to pump, please don't take this as a pumping, just trying to help mooncoin some.  Mooncoin like Pandacoin has good and vast distribution this is a good thing for PoS IMHO  would make for a well secured network. For the sake of disclosure I do own 3,490,571.88149292 + (1'957'633.41038613 recent buying at swisscex) Moon myself ( guess I sense a bottom been nibbling https://www.swisscex.com/market/MOON_LTC.  That was PND too but now they gave us back BTC markets and mintpal did too, very rare. Will be buying much more if things start to look up, if your not evolving your gonna just be food for the survivors who do I am thinking.