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Author Topic: ••• [ANN][SMC] SmartCoin • KGW • Cryptsy • Reduced Block Rewards • Update your wallets • 10 EXCHANGE  (Read 298692 times)
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smartcoin (OP)
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January 23, 2014, 02:58:26 AM
 #141

We've pushed a new change to the website, hopefully resolving the issue. If it still persists, let us know.

The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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January 23, 2014, 07:13:05 AM
 #142

Let's go Minig let's go
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January 23, 2014, 08:13:34 AM
 #143

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!

Or is sth wrong?  800 ppls instead of 8000 ppls?  Huh Huh Huh
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January 23, 2014, 09:41:33 AM
 #144

Coins look nice. well, they are a solid preparation before the start
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January 23, 2014, 10:29:07 AM
 #145

Coins nice
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January 23, 2014, 12:33:05 PM
 #146

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."

45000 / people_signed_cnt = how much you get SMC

for example if signed 1000 people for free SMC , all get per 45 SMC.
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January 23, 2014, 12:35:22 PM
 #147

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!

Or is sth wrong?  800 ppls instead of 8000 ppls?  Huh Huh Huh

It's as you quoted.. "45,000 SMC will be divided equally"
If 8000 reserve SMC we'll only get 5.625 SMC (45000/8000)
But more likely "only" 1000 will reserve (45000/1000) = 45 SMC

But what I'm a bit confused about is the 15 SMC bonus for the signature.
Will that also be drawn from the 45,000 pot?
In that case, if 1000 signup, we'll still get 45 SMC and not 60.
If it's a seperate pot for the bonus, what if 8000 signup, that will be 120,000 SMC if all get a 15 SMC bonus.

Please clear this up for me Smiley
//Michael

SC: BSGpdD9cCYTGTv4oBMMgZFKjDn3s1gFNHZ
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January 23, 2014, 12:37:36 PM
 #148

Block 1: 400,000 SMC
Block 2-999: 1 SMC
Block >1000: 64 SMC

So does this mean that the person (or the pool) that finds the 1st block is basically going to be rich and that it will take 28 days to get the next 1000 SMC?
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January 23, 2014, 12:40:52 PM
 #149

Block 1: 400,000 SMC
Block 2-999: 1 SMC
Block >1000: 64 SMC

So does this mean that the person (or the pool) that finds the 1st block is basically going to be rich and that it will take 28 days to get the next 1000 SMC?

first block was premined.
of which he has or will give away 60K to pools, 45k to anyone who registered, and 15 per signature. The rest is for development bounties for things like faucets, and future giveaways. 
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January 23, 2014, 12:44:36 PM
 #150

Block 1: 400,000 SMC
Block 2-999: 1 SMC
Block >1000: 64 SMC

So does this mean that the person (or the pool) that finds the 1st block is basically going to be rich and that it will take 28 days to get the next 1000 SMC?

first block was premined.
of which he has or will give away 60K to pools, 45k to anyone who registered, and 15 per signature. The rest is for development bounties for things like faucets, and future giveaways. 

got it, thanks!
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January 23, 2014, 12:46:25 PM
 #151



PoW Algorithim: Scrypt
Block Interval: 40 seconds
Starting Difficulty: 0.00024414062
Difficulty Retarget: Every 540 blocks (6 hours)
Total Coin Supply: ~51,200,000



I feel like the difficulty retarget time needs to be reduced dramatically. Take a look at catcoin, and ronpaulcoin. As soon as a multipool hits this coin, they'll mine until next retarget, difficulty will skyrocket, they'll leave, and then there will not be enough hash left for us to meet the next retarget time.

Its far better to set retarget time to something like ~54 instead of 540 blocks, and to limit the change to 10% or so instead of allowing it to jump 5000% because one multipool joined in for a few minutes.  This can be handled otherways, this just seems like the easiest way to have a smooth difficulty retarget.

Every coin i've seen with a retarget this high either forks 2 weeks after launch or dies.
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January 23, 2014, 12:48:50 PM
 #152

this coin promising, sounds good

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January 23, 2014, 12:49:04 PM
 #153

I tried to change my signature and the forum says "changing avatars is currently not possible" Huh

EDIT: HAHA nevermind it worked anyway
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January 23, 2014, 01:07:07 PM
 #154

This looks like a nice alt. Hope the launch goes without problems!  Smiley

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January 23, 2014, 01:10:15 PM
 #155



PoW Algorithim: Scrypt
Block Interval: 40 seconds
Starting Difficulty: 0.00024414062
Difficulty Retarget: Every 540 blocks (6 hours)
Total Coin Supply: ~51,200,000



I feel like the difficulty retarget time needs to be reduced dramatically. Take a look at catcoin, and ronpaulcoin. As soon as a multipool hits this coin, they'll mine until next retarget, difficulty will skyrocket, they'll leave, and then there will not be enough hash left for us to meet the next retarget time.

Its far better to set retarget time to something like ~54 instead of 540 blocks, and to limit the change to 10% or so instead of allowing it to jump 5000% because one multipool joined in for a few minutes.  This can be handled otherways, this just seems like the easiest way to have a smooth difficulty retarget.

Every coin i've seen with a retarget this high either forks 2 weeks after launch or dies.

Concur with ctench.....lower the DR to 50 to 60 or implement the Kimoto's gravity well. The coin will die.....RPC will survive the mistake due to the popularity of the name (branding) but Smartcoin branding is weak at the start.

..C..
.....................
........What is C?.........
..............
...........ICO            Dec 1st – Dec 30th............
       ............Open            Dec 1st- Dec 30th............
...................ANN thread      Bounty....................

smartcoin (OP)
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January 23, 2014, 01:30:25 PM
 #156

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!

Or is sth wrong?  800 ppls instead of 8000 ppls?  Huh Huh Huh

It's as you quoted.. "45,000 SMC will be divided equally"
If 8000 reserve SMC we'll only get 5.625 SMC (45000/8000)
But more likely "only" 1000 will reserve (45000/1000) = 45 SMC

But what I'm a bit confused about is the 15 SMC bonus for the signature.
Will that also be drawn from the 45,000 pot?
In that case, if 1000 signup, we'll still get 45 SMC and not 60.
If it's a seperate pot for the bonus, what if 8000 signup, that will be 120,000 SMC if all get a 15 SMC bonus.

Please clear this up for me Smiley
//Michael


We predict 1000 regular sign ups and about 50 bonuses (750 SMC) so the math works out because we will just take 750 out of the developer bounty.



PoW Algorithim: Scrypt
Block Interval: 40 seconds
Starting Difficulty: 0.00024414062
Difficulty Retarget: Every 540 blocks (6 hours)
Total Coin Supply: ~51,200,000



I feel like the difficulty retarget time needs to be reduced dramatically. Take a look at catcoin, and ronpaulcoin. As soon as a multipool hits this coin, they'll mine until next retarget, difficulty will skyrocket, they'll leave, and then there will not be enough hash left for us to meet the next retarget time.

Its far better to set retarget time to something like ~54 instead of 540 blocks, and to limit the change to 10% or so instead of allowing it to jump 5000% because one multipool joined in for a few minutes.  This can be handled otherways, this just seems like the easiest way to have a smooth difficulty retarget.

Every coin i've seen with a retarget this high either forks 2 weeks after launch or dies.

Concur with ctench.....lower the DR to 50 to 60 or implement the Kimoto's gravity well. The coin will die.....RPC will survive the mistake due to the popularity of the name (branding) but Smartcoin branding is weak at the start.

We've definitely looked at ways to reduce instamining, but didn't really take the rehash rate into consideration. The good news is that its still changeable even though we will be tighter on time. How does an 60 block (~40 seconds) difficulty rehash sound?

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January 23, 2014, 01:57:58 PM
 #157

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!

Or is sth wrong?  800 ppls instead of 8000 ppls?  Huh Huh Huh

It's as you quoted.. "45,000 SMC will be divided equally"
If 8000 reserve SMC we'll only get 5.625 SMC (45000/8000)
But more likely "only" 1000 will reserve (45000/1000) = 45 SMC

But what I'm a bit confused about is the 15 SMC bonus for the signature.
Will that also be drawn from the 45,000 pot?
In that case, if 1000 signup, we'll still get 45 SMC and not 60.
If it's a seperate pot for the bonus, what if 8000 signup, that will be 120,000 SMC if all get a 15 SMC bonus.

Please clear this up for me Smiley
//Michael


We predict 1000 regular sign ups and about 50 bonuses (750 SMC) so the math works out because we will just take 750 out of the developer bounty.



PoW Algorithim: Scrypt
Block Interval: 40 seconds
Starting Difficulty: 0.00024414062
Difficulty Retarget: Every 540 blocks (6 hours)
Total Coin Supply: ~51,200,000



I feel like the difficulty retarget time needs to be reduced dramatically. Take a look at catcoin, and ronpaulcoin. As soon as a multipool hits this coin, they'll mine until next retarget, difficulty will skyrocket, they'll leave, and then there will not be enough hash left for us to meet the next retarget time.

Its far better to set retarget time to something like ~54 instead of 540 blocks, and to limit the change to 10% or so instead of allowing it to jump 5000% because one multipool joined in for a few minutes.  This can be handled otherways, this just seems like the easiest way to have a smooth difficulty retarget.

Every coin i've seen with a retarget this high either forks 2 weeks after launch or dies.

Concur with ctench.....lower the DR to 50 to 60 or implement the Kimoto's gravity well. The coin will die.....RPC will survive the mistake due to the popularity of the name (branding) but Smartcoin branding is weak at the start.

We've definitely looked at ways to reduce instamining, but didn't really take the rehash rate into consideration. The good news is that its still changeable even though we will be tighter on time. How does an 60 block (~40 seconds) difficulty rehash sound?

significantly better =)
i'd still try to include a max% change instead of letting it jump up and down so much an unlimited amount though. Or Kimoto's gravity well if you still have time (im sure this is way more complicated).

While it would allow for more instamining early on; this can be avoid by making the first ~500 blocks equal to 0 coins.


without this implemented the coin behavior will be as follows: 540 blocks per 6 hours, means 90 an hour is the target.
lets say you have 100 MH/s nonmultipool miners, and 1 GH/s multipool miner joins the pool. this adds 10x the hash rate; meaning all 540 blocks will be mined in about 35 minutes instead of 6 hours. At this time the difficulty jumps up until 1 GH/s mines 540 per 6 hours. The multipool would then leave; and the remaining 100 MH/s would then take 60 hours to complete the 540 blocks.
So you would have 35 minutes of easy, profitable mining; and then 60 hours of unprofitable mining. My math could be off, but you get the basic idea.

Same concept for 60 block without max% or kimoto's gravity implemented; just to a lesser extent.

basically you only want your difficulty to jump up until your just barely not the most profitable coin to mine so that multipools avoid you adn they screw someone else over instead =p

 
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January 23, 2014, 04:21:29 PM
 #158

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!

Or is sth wrong?  800 ppls instead of 8000 ppls?  Huh Huh Huh

It's as you quoted.. "45,000 SMC will be divided equally"
If 8000 reserve SMC we'll only get 5.625 SMC (45000/8000)
But more likely "only" 1000 will reserve (45000/1000) = 45 SMC

But what I'm a bit confused about is the 15 SMC bonus for the signature.
Will that also be drawn from the 45,000 pot?
In that case, if 1000 signup, we'll still get 45 SMC and not 60.
If it's a seperate pot for the bonus, what if 8000 signup, that will be 120,000 SMC if all get a 15 SMC bonus.

Please clear this up for me Smiley
//Michael


We predict 1000 regular sign ups and about 50 bonuses (750 SMC) so the math works out because we will just take 750 out of the developer bounty.



PoW Algorithim: Scrypt
Block Interval: 40 seconds
Starting Difficulty: 0.00024414062
Difficulty Retarget: Every 540 blocks (6 hours)
Total Coin Supply: ~51,200,000



I feel like the difficulty retarget time needs to be reduced dramatically. Take a look at catcoin, and ronpaulcoin. As soon as a multipool hits this coin, they'll mine until next retarget, difficulty will skyrocket, they'll leave, and then there will not be enough hash left for us to meet the next retarget time.

Its far better to set retarget time to something like ~54 instead of 540 blocks, and to limit the change to 10% or so instead of allowing it to jump 5000% because one multipool joined in for a few minutes.  This can be handled otherways, this just seems like the easiest way to have a smooth difficulty retarget.

Every coin i've seen with a retarget this high either forks 2 weeks after launch or dies.

Concur with ctench.....lower the DR to 50 to 60 or implement the Kimoto's gravity well. The coin will die.....RPC will survive the mistake due to the popularity of the name (branding) but Smartcoin branding is weak at the start.

We've definitely looked at ways to reduce instamining, but didn't really take the rehash rate into consideration. The good news is that its still changeable even though we will be tighter on time. How does an 60 block (~40 seconds) difficulty rehash sound?

significantly better =)
i'd still try to include a max% change instead of letting it jump up and down so much an unlimited amount though. Or Kimoto's gravity well if you still have time (im sure this is way more complicated).

While it would allow for more instamining early on; this can be avoid by making the first ~500 blocks equal to 0 coins.


without this implemented the coin behavior will be as follows: 540 blocks per 6 hours, means 90 an hour is the target.
lets say you have 100 MH/s nonmultipool miners, and 1 GH/s multipool miner joins the pool. this adds 10x the hash rate; meaning all 540 blocks will be mined in about 35 minutes instead of 6 hours. At this time the difficulty jumps up until 1 GH/s mines 540 per 6 hours. The multipool would then leave; and the remaining 100 MH/s would then take 60 hours to complete the 540 blocks.
So you would have 35 minutes of easy, profitable mining; and then 60 hours of unprofitable mining. My math could be off, but you get the basic idea.

Same concept for 60 block without max% or kimoto's gravity implemented; just to a lesser extent.

basically you only want your difficulty to jump up until your just barely not the most profitable coin to mine so that multipools avoid you adn they screw someone else over instead =p

 
We will be seriously considering adopting Kimoto's Gravity Well from Megacoin. It may delay the launch but we'll  do our best.

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January 23, 2014, 04:56:48 PM
 #159

I΄m in.  Grin
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January 23, 2014, 05:22:03 PM
 #160

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