NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS

[Coinler]

Someone should come out with an algorithm that pays less per hash exponentially as your hash rate increases. So 100 GH/s hash is only slightly better than 1 GH/s. Make the rate of change slow enough so that your average user or pool is uneffected, but once you break something like the 1 GH/s threshold your rate of return per hash decreases a little with each bit of hashpower added on top of that. This would deter any one pool from getting too bigm and would stop these massive multipools from mining your coin while still allowing for normal users to mine nearly uneffected.
No idea how to do it though, or if its even possible.  

actually im way ahead of you guys and have already fully designed a coin that addresses those issues. im trying to build a community so we can have the coin developed but there is alot of negativity towards it coming out of the woodwork.. however i have been msgd private interests from those who agree with me that something needs to be done. u have sort of stated one of the behaviours of the algorithm i would like to have a coder build. yes the coin will addjust difficulty based on hashrate individually and simply let the higher hash create stronger block/network security. and theres alot more to it than that.. uve basically forced me to admit that this is part of the coins technology. with the higher difficulty attached to higher mining rates.. while it takes them a bit longer to hash a block, smaller miners will get a chance to mine the smaller ones.

i might make an ANN for it with the coin name and everything and see if i can gain investors that way.

https://bitcointalk.org/index.php?topic=611996.0

[1714050796]

1714050796

[1714050796]

1714050796

[1714050796]

1714050796

[Coinler]

Yeah I like groestl. It had a 3rd place as candidate for SHA-3 (along with Keccak).

it's the new hot thing. i say we dont wait to see it flourish. every coin that has flourished was allowed to flourish on the supply of gpus alone. asics have proven their greed. and multipool are heartless. we have the knight program.. which if we switch to groestl will get a new a mission.. reconnaisance lol. and we may not have a very large window. eventually other scrypt coins are going to realize they have to do something to at least mitigate the abuse of multipool dumps as soon as the coin begins to rise. with an non-multipool algo.. the price can rise simply because noone mined too much of market share making it near valueless to them while of much more value to those who could only get a few, limiting the temptation to greed to cashout all their stock at prices so low noone else is able to sell until theyre done suppressing the market.

i really hope Rofo will go with groestl.. or maybe he will do his own algo. could be interesting. groestl is definitely successful not only because it is anti asic/multipool but because it is an enhancement on x11/x13 algos which are now compromised by asics. people want it especially with the summer heat it would be good to run at cooler temps not just for the electricity bill but the environment as well.

The truth is that multipools are always going to exist unless a coin has a crushing majority (in terms of market penetration and hashrate). Remember, there have been SHA-256 and sCrypt multipools for a quite a while already. I think the multipool abuse is more of a systemic issue rather than an algorithm issue. People want to convert coins into what is easily usable (i.e. greed to a certain extent); that's why so many people dump for BTC and/or fiat.

I'm not sure how you can substantively make this conclusion, but how is Groestl directly an enhancement? The only "enhancement" of these algorithms is the cooler temperatures (but even this is severely negligible). ASICs still win the battle in regards to electricity efficiency.

yes but asics are the cause of a very big problem together with multipools for any scrypt/sha or multipoolable coin. they can generate coins much faster than the market grows. thus in a rush to gain their ROI they cash out and dump so that they dont risk the price going lower before they sell. their selfishness, panic and greed is actually caused by them in the end because they wont hold the coins long enough for the market to become strong and of high value.

groestl is an enhancement because as it is, the price of all scrypts that are multipoolable are beeing abused by the multipools for POS coins. the more pos coins come out.. the more multipools there will be.. and the more profitable your scryptcoin becomes, the larger target it becomes for a multipool.

groestl will protect investors from heartless multipool dumps which have no value for the coin. only to gain btc to buy e.g - blackcoin on the market. if groestl is anti multipool.. that is the most significant enhancement in my eyes to protect our coin. with more multipools targetting litecoin the price will go lower unless alot of people suddenly arrive with a demand for litecoin that outweighs how much multipools can generate and dump each day...

[bangomatic]

From what I have read, an attack to the network does not need to be 51%. The likely hood to be succesfull with above 51% is higher. So it really depends on how you want to look at a secure network.

Ok then to make this truly secure, the 51% or higher, nethash would have to be controlled by asics owned and operated by Noblecoin... correct?

You don't have to answer.
The point I'm getting at is the asics mining equipment WOULD have to be owned and operated by Noblecoin.

If Noblecoin is mining >51% of all the coins, then they would have to sell the coins to support a continual upgrade cycle to insure they maintain >51%.

Just seems like a lot of time, money, headache invested just to stay ahead of the asics game, not to mention the community would demand accountability for the mined coins just like the pre-mine coins.

I apologize if you felt like I ignored this question. But yes, the only sCrypt coin that can reasonably do this is Litecoin. Other sCrypt coins can exist, but they either have to have a substantive share of hash rate to make attacks nontrivial (kinda like the 72/12.5/1.5 spilt between LTC/DOGE/WDC) or have to be merge-mined under a parent chain (which would most likely have to be LTC). Reasonably speaking, we can state that non-triviality occurs at a few percent of total hash rate (the point at which it costs "significant" resources to attack).

As for continuing the cycle, yes, either funds would need to be reallocated or external financing would need to continuously flow in. But this sort of issue is not only staying ahead of the ASIC "game" but also towards making a secure ledger.

When you really think about it, the most PoW coins that we "should" have lies at about 3 times the number of non-intersecting algorithms (or about 20 coins at the moment) which is way less than the number of substantive competing coins out there.

Actually I was waiting for 1kb to answer, but thanks for your answer.

[Coinler]

advancement in technology is a funny thing.. sometimes it's in the hardware.. but sometimes it's in the software. im not sure asics really have a place in crypto for very long...

e.g. an algorithm could be written that gives a standard r9 290 100mh hashrate while running at 55 degrees temp. it's really in the software coding. we can make it more efficient there.

sometimes observing the past can help you predict patterns.. but whenever abuse pops up.. things evolve , adapt and change. that is nature. and survival of the fittest as well.

[1Kb]

From what I have read, an attack to the network does not need to be 51%. The likely hood to be succesfull with above 51% is higher. So it really depends on how you want to look at a secure network.

Ok then to make this truly secure, the 51% or higher, nethash would have to be controlled by asics owned and operated by Noblecoin... correct?

You don't have to answer.
The point I'm getting at is the asics mining equipment WOULD have to be owned and operated by Noblecoin.

If Noblecoin is mining >51% of all the coins, then they would have to sell the coins to support a continual upgrade cycle to insure they maintain >51%.

Just seems like a lot of time, money, headache invested just to stay ahead of the asics game, not to mention the community would demand accountability for the mined coins just like the pre-mine coins.

I apologize if you felt like I ignored this question. But yes, the only sCrypt coin that can reasonably do this is Litecoin. Other sCrypt coins can exist, but they either have to have a substantive share of hash rate to make attacks nontrivial (kinda like the 72/12.5/1.5 spilt between LTC/DOGE/WDC) or have to be merge-mined under a parent chain (which would most likely have to be LTC). Reasonably speaking, we can state that non-triviality occurs at a few percent of total hash rate (the point at which it costs "significant" resources to attack).

As for continuing the cycle, yes, either funds would need to be reallocated or external financing would need to continuously flow in. But this sort of issue is not only staying ahead of the ASIC "game" but also towards making a secure ledger.

When you really think about it, the most PoW coins that we "should" have lies at about 3 times the number of non-intersecting algorithms (or about 20 coins at the moment) which is way less than the number of substantive competing coins out there.

Actually I was waiting for 1kb to answer, but thanks for your answer.

Hehe, sorry am making dinner for myself:)
And yes, your point is true. The only alternative would be if a mass of people would decide to mine. But we all know that the current situation is that people rather gamble to get a quick ROI than to build and extend a coin.

[bangomatic]

From what I have read, an attack to the network does not need to be 51%. The likely hood to be succesfull with above 51% is higher. So it really depends on how you want to look at a secure network.

Ok then to make this truly secure, the 51% or higher, nethash would have to be controlled by asics owned and operated by Noblecoin... correct?

You don't have to answer.
The point I'm getting at is the asics mining equipment WOULD have to be owned and operated by Noblecoin.

If Noblecoin is mining >51% of all the coins, then they would have to sell the coins to support a continual upgrade cycle to insure they maintain >51%.

Just seems like a lot of time, money, headache invested just to stay ahead of the asics game, not to mention the community would demand accountability for the mined coins just like the pre-mine coins.

I apologize if you felt like I ignored this question. But yes, the only sCrypt coin that can reasonably do this is Litecoin. Other sCrypt coins can exist, but they either have to have a substantive share of hash rate to make attacks nontrivial (kinda like the 72/12.5/1.5 spilt between LTC/DOGE/WDC) or have to be merge-mined under a parent chain (which would most likely have to be LTC). Reasonably speaking, we can state that non-triviality occurs at a few percent of total hash rate (the point at which it costs "significant" resources to attack).

As for continuing the cycle, yes, either funds would need to be reallocated or external financing would need to continuously flow in. But this sort of issue is not only staying ahead of the ASIC "game" but also towards making a secure ledger.

When you really think about it, the most PoW coins that we "should" have lies at about 3 times the number of non-intersecting algorithms (or about 20 coins at the moment) which is way less than the number of substantive competing coins out there.

Actually I was waiting for 1kb to answer, but thanks for your answer.

Hehe, sorry am making dinner for myself:)
And yes, your point is true. The only alternative would be if a mass of people would decide to mine. But we all know that the current situation is that people rather gamble to get a quick ROI than to build and extend a coin.

Yes my point is that you cannot count on other miners to stick with mining noblecoin, you will just be disappointed because it would be like trying to herd cats. 

[1Kb]

But on a side note, I wonder how Rofo and the team is doing. I can only imagine that they carry a burden to get something good and wonderfull while we "sit by and wait".
it would be nice if we could do something in return.

[bangomatic]

But on a side note, I wonder how Rofo and the team is doing. I can only imagine that they carry a burden to get something good and wonderfull while we "sit by and wait".
it would be nice if we could do something in return.

Yes I know that's a ton of stress on these guys. The best thing we can do is support whatever decisions they make.

[whylieaboutcake]

I can't say enough how much I love this community. You are all fantastic.

[Coinler]

i want to say if noblecoin will get those noblecoin usb wallet things i will buy one with the noble logo. it is going to make a pretty hot design. anyone else support this? any graphic designers on board for wallet design?

[Zebedee23]

what usb wallet things r these???

[cdg1941]

what usb wallet things r these???

http://media.coindesk.com/2013/08/bitcoin-paper-coin-and-USB-wallets.jpg

http://bitcoinsecure.wdfiles.com/local--files/start/nCrypt_key2.jpg

[Coinler]

what usb wallet things r these???

hmm u have been out of the loop.. these guys

http://www.blackcoincard.com/

it's a creditcard sized card that has a foldable usb connection and can store up to 8gb or 16gb of data/blockchain. i think u can get them for as low as $2-$5 out of china. you can aslo have them with the chip like blackcoin card .. but the blackcoin card chip is just a dummy and will not work with point of sale retail commerce.. at least it is not slated in their development. but all in all it is a quite classy little marketing tool i think. but also a safe haven off your pc to store your wallet when it is not in use.

this has also been catching on and i see a few other coins offering it now with growing interest.

edit: from what ive seen they generally take orders in advance of the actual purchase.. so no stock is really held in advance.. only based on demand. blackcoin had theirs priced at $20 which seems to be the average price.

[baloy]

i'm could not wait no longer for the pool to be alive... Poolinero is still 0 Kh/s... Coinmine is also a no go...    is there someone who's mining NOBL now? can you share me your pool?

thanks...

[penambang]

i'm could not wait no longer for the pool to be alive... Poolinero is still 0 Kh/s... Coinmine is also a no go...    is there someone who's mining NOBL now? can you share me your pool?

thanks...

try this pool:

Code:

http://multi.hasher.ca/

[baloy]

^ thanks...

i'll try this one after i'll arrive home...

[Rofo]

For those who don't hang out in mIRC I'll post a summary/overview of all the conversations & info. given today as an update shortly.

[pikuchato]

For those who don't hang out in mIRC I'll post a summary/overview of all the conversations & info. given today as an update shortly.

Thank you, I will start following the irc channel more often

[murkster]

For those who don't hang out in mIRC I'll post a summary/overview of all the conversations & info. given today as an update shortly.

Cheers man be good to catch up.

[james6546]

For those who don't hang out in mIRC I'll post a summary/overview of all the conversations & info. given today as an update shortly.

Some people have to sleep you know :p