Vertcoin - First Scrypt N | First Stealth Address - Privacy without mixer

[Bajawah]

Article: http://www.followthecoin.com/interview-creator-vertcoin/[1]

Intervier Question:
In theory, the hash rate should drop to half what you get from mining other Scrypt coin due to the N number, and will drop with this rate following the scheduled time. In the long run, CPU miners will gain an advantage from the memory requirement, but GPUs will still be able to mine at a dramatically decreased rate due to memory requirements, which GPUs have less than CPUs.

Creator Answer:
This situation will happen in the future. Only one case that GPUs will get higher hash rate than CPU in this future scenario is if AMD or Nvidia are able to create GPUs that have local memory per thread equal or more than the requirement in the schedule time.

So, if I am reading this right , Vertcoin will not be picked up by people who have GPU farms. Personally, I just ordered a big rig and now I am scratching my head as to what the hell is going to happen. Back to doge I guess for that rig...

I will need to try CPU mining once I get home, but this is very concerning. I was shocked my 1.5MH/s rig was getting 600-700kH/s, but I was ok with that. Yet, apparently that is going to increasingly go down.

So a realistic question will the value of Vertcoin out pace the difference in value that could be gained from mining a different coin at your higher hash rate.

Example: I can mine X 'pretend-coin" a day making ?.???BTC a day with my 1.5 MH/s. Or I can mine X Vertcoin a day making ?.???BTC a day with my < 600 kH/s (and decreasing).

If that makes sense...

[rfcdejong]

Just a quick question, did everyone's hashrate drop due to the new difficulty adjustment scheme? or is it just me?

my vertminer shows the exact same hashspeed, but the p2pool hashrate is 10% less.. perhaps because of the stales i get now, which i didn't get earlier

[orrett3]

Thanks Bajawah, but thats not what im talking about. I know the hash rate was half of what it should be for other scrypt coins, but what i don't know is that after implementing KGW, if there was another drop in hash rate.

If you have been following the thread, a few things have changed recently with the coin.

@rfcdejong Thanks, i guess i changed something and messed up my hash rate, I changed too many things within the last day and i don't know what to change back to get my speed back.

[Bajawah]

Thanks Bajawah, but thats not what im talking about. I know the hash rate was half of what it should be for other scrypt coins, but what i don't know is that after implementing KGW, if there was another drop in hash rate.

If you have been following the thread, a few things have changed recently with the coin.

@rfcdejong Thanks, i guess i changed something and messed up my hash rate, I changed too many things within the last day and i don't know what to change back to get my speed back.

What has changed? I missed it.

[roy7]

Just a quick question, did everyone's hashrate drop due to the new difficulty adjustment scheme? or is it just me?

The diff adjustment should have no effect on your hash rate. If it impacted the global hash rate, that'd be from miners who didn't upgrade their wallets being forked off into an invalid blockchain.

[orrett3]

Thanks Bajawah, but thats not what im talking about. I know the hash rate was half of what it should be for other scrypt coins, but what i don't know is that after implementing KGW, if there was another drop in hash rate.

If you have been following the thread, a few things have changed recently with the coin.

@rfcdejong Thanks, i guess i changed something and messed up my hash rate, I changed too many things within the last day and i don't know what to change back to get my speed back.

What has changed? I missed it.

If you take a look on the first post, the difficulty of each block is now calculated for each block and not after X number of days, and the N factor schedule has changed (2 of the major things).

[micryon]

To all, contributions to the marketing side please use this address for VTC

Vhyvm4TVwUjyBkBqNRqiBqDuqaFCsDM5wx

Sent 50: abca0d64341ec17c0bfa5f6fbeb25ec4c726d54681f257b43b07e1a9cc9122e1 

Let's pump this coin up!

[mmihai1978]

@boris or @vertcoin

please fix the typo on vertcoin.org
"with its innovative approach".

[Sonora]

Sent 100 VTC.

Transaction ID: 18f30db912bce52c49cf13bf805bc060db5fc2544647f67df9040f0178d7e607

[jballs]

Sent 100 VTC.

Transaction ID: 18f30db912bce52c49cf13bf805bc060db5fc2544647f67df9040f0178d7e607

awesome, got it...thanks!

Total received so stand at 417.899

Need about 200 more and we are ready to roll...


PR & Marketing pledges for VTC Send Here:

Vhyvm4TVwUjyBkBqNRqiBqDuqaFCsDM5wx


Let's get the world on Vertcoin...

[Fastpow]

Wow, the amounts people are donating here is insane!
Takes me about 3 days to even get 50 coins :p

Anyway, keep up the good work!

[BorisTheSpider]

@boris or @vertcoin

please fix the typo on vertcoin.org
"with its innovative approach".

Thanks for pointing it out - fixed.

[blackkitty]

Why am I not getting any accepted shares? I have 2KH/s on the CPU and 10KH/s on the GPU and so far 0 accepted after an hour.

[Vertcoin]

Article: http://www.followthecoin.com/interview-creator-vertcoin/[1]

Intervier Question:
In theory, the hash rate should drop to half what you get from mining other Scrypt coin due to the N number, and will drop with this rate following the scheduled time. In the long run, CPU miners will gain an advantage from the memory requirement, but GPUs will still be able to mine at a dramatically decreased rate due to memory requirements, which GPUs have less than CPUs.

Creator Answer:
This situation will happen in the future. Only one case that GPUs will get higher hash rate than CPU in this future scenario is if AMD or Nvidia are able to create GPUs that have local memory per thread equal or more than the requirement in the schedule time.

So, if I am reading this right , Vertcoin will not be picked up by people who have GPU farms. Personally, I just ordered a big rig and now I am scratching my head as to what the hell is going to happen. Back to doge I guess for that rig...

I will need to try CPU mining once I get home, but this is very concerning. I was shocked my 1.5MH/s rig was getting 600-700kH/s, but I was ok with that. Yet, apparently that is going to increasingly go down.

So a realistic question will the value of Vertcoin out pace the difference in value that could be gained from mining a different coin at your higher hash rate.

Example: I can mine X 'pretend-coin" a day making ?.???BTC a day with my 1.5 MH/s. Or I can mine X Vertcoin a day making ?.???BTC a day with my < 600 kH/s (and decreasing).

If that makes sense...

Please take a look at the schedule time of N :

| N        | Memory | Timestamp   | Date/Time                     |   |
|----------|--------|-------------|-------------------------------|---|
| 2048     | 256 kB | 1389306217  | Thu, 09 Jan 2014 22:23:37 GMT |   |
| 4096     | 512 kB | 1456415081  | Thu, 25 Feb 2016 15:44:41 GMT |   |
| 8192     | 1 MB   | 1506746729  | Sat, 30 Sep 2017 04:45:29 GMT |   |
| 16384    | 2 MB   | 1557078377  | Sun, 05 May 2019 17:46:17 GMT |   |
| 32768    | 4 MB   | 1657741673  | Wed, 13 Jul 2022 19:47:53 GMT |   |
| 65536    | 8 MB   | 1859068265  | Tue, 28 Nov 2028 23:51:05 GMT |   |
| 131072   | 16 MB  | 2060394857  | Tue, 17 Apr 2035 03:54:17 GMT |   |
| 262144   | 32 MB  | 2463048041  | Sun, 19 Jan 2048 12:00:41 GMT |   |
| 524288   | 64 MB  | 2999918953  | Fri, 23 Jan 2065 06:49:13 GMT |   |
| 1048576  | 128 MB | 3536789865  | Wed, 28 Jan 2082 01:37:45 GMT |   |
| 2097152  | 256 MB | 5684273513  | Mon, 16 Feb 2150 04:51:53 GMT |   |
| 4194304  | 512 MB | 7831757161  | Sat, 07 Mar 2218 08:06:01 GMT |   |
| 8388608  | 1 GB   | 9979240809  | Thu, 25 Mar 2286 11:20:09 GMT |   |
| 16777216 | 2 GB   | 16421691753 | Fri, 19 May 2490 21:02:33 GMT |   |
| 33554432 | 4 GB   | 22864142697 | Sun, 15 Jul 2694 06:44:57 GMT |   |

As you can see, it is almost 2 years for changing N. In this case, your currently GPUs will not be able to mine Vertcoin in Sat, 30 Sep 2017 04:45:29 GMT or N = 8192 or 3.7 years from now.

[BorisTheSpider]

Why am I not getting any accepted shares? I have 2KH/s on the CPU and 10KH/s on the GPU and so far 0 accepted after an hour.

Are you mining on p2pool? Your hashrates are pretty low, you'd be better off on a traditional pool if so.

If you are on a traditional pool, did you recently start mining? Vardiff will start too high for your hashrates, and will take some time to reduce difficulty enough for you to get accepted shares - you'll just have to wait it out.

[huanix]

The OP and miner setup instruction page has a tiny error -

Code:

cd include
cp *.h ~/vertminer-gpu/ADL_SDK

should be:

Code:

cd include
cp *.h ~/Downloads/vertminer-gpu/ADL_SDK

since the earlier instructions had the user clone the repo from the ~/Downloads directory.

[blackkitty]

Why am I not getting any accepted shares? I have 2KH/s on the CPU and 10KH/s on the GPU and so far 0 accepted after an hour.

Are you mining on p2pool? Your hashrates are pretty low, you'd be better off on a traditional pool if so.

If you are on a traditional pool, did you recently start mining? Vardiff will start too high for your hashrates, and will take some time to reduce difficulty enough for you to get accepted shares - you'll just have to wait it out.

Yeah my hashrate is low because my system sucks. Its actually notably lower than mining LTC or DOGE though

But my problem is resolved. For some reason my dogewallet trying to sync prevented it. I closed it and soon started getting shares relatively frequently

Also my GPU is up to a more reasonable 22 KH now

[BorisTheSpider]

Request VTC at more exchanges

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Please emphasise that we are 2nd in volume behind DOGE at CoinedUp

[jballs]

Why vertcoin... Just making a list, feel free to add and correct my technically challenged self


Approximately 43% of bitcoins currently in existence are held by fewer than 1,100 individuals.

Large and expensive mining operations currently dominate the bitcoin distribution.

Technology has evolved to further advance the consolidation of bitcoin wealth into very few hands (asic)

There are currently no asic miners capable of mass-mining vertcoin.

Vertcoin is the only peer to peer currency that cannot be mined using asic miners, and there is as of yet no technology available to defeat this. (True?)

Vertcoin has outperformed most other crypto currencies from inception, rising rapidly in value from inception.  

Less than a month old, it has an established market cap of nearly 700Btc.

The relative difficulty of mining creates an intrinsic floor on the price, as miners are less willing to dump hard earned coins at a low price.

The inability of very large pools (middlecoin, hashco, etc) to pull and dump large amounts of new http://www.youtube.com/watch?v=sICSyC9u5iI&sns=emcoins creates a strategic advantage over all other existing coins.

Total lifetime coinage of 82 million places supply below litecoin, currently trading near $20 each.

With fewer than 1.5 million vertcoin mined so far, this currency is in its infancy and primed for early adopters to establish ling term positions.  

Market cap for litecoin currently at 2 billion dollars despite litecoins susceptibility to asics and heavy mining operations. This is a 4,000 times the market cap of vertcoin, which has a s a stronger potential long term position as a truly decentralized peer to peer currency.


What else?

Edit- Komodo dragon well is working well i presume from today's price stability and a decent build in the buy wall (coinedup, for whatever that is worth). I will pretend for now to know what that means but i did see the dificulty graph so while it is over my head i totally get the concept

[nonny12]

Just sent 50 VTC your way jballs. Great idea, thanks for leading the effort.