[POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦

[PotCoin]

in response to why we thought about halving the coin

many people had written us asking us to do it.

so we took it into consideration and then decided to ask the community.


we never intended on halving it but we do like the idea of extended the mining life of the coin.

it had nothing to do with trying to drive the price of the coin up.

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[vleroybrown]

in response to why we thought about halving the coin

many people had written us asking us to do it.

so we took it into consideration and then decided to ask the community.


we never intended on halving it but we do like the idea of extended the mining life of the coin.

it had nothing to do with trying to drive the price of the coin up.

What yall doing to the idea of cooperative growing?   I think the work of promise is a good start for us!

[fairglu]

I'm building a Pot hashrate watch at http://chainz.cryptoid.info/pot/

Any ideas on the large pools out there?
I've gone through all the pools listed in the first post, but I've obviously missed a large one. Any idea which pool it is?

[Radar]

potcoin to the moon!

[fyubr]

I'm building a Pot hashrate watch at http://chainz.cryptoid.info/pot/

Any ideas on the large pools out there?
I've gone through all the pools listed in the first post, but I've obviously missed a large one. Any idea which pool it is?

https://pot.hash.so/ is @28.8%
http://pot.scryptominers.com/ @12.1%
http://pot.bitember.com/ @6.9%

of the network hash, maybe you missed one of these?

[coolpool2]

pot.pool.mn invites you to mine PotCoin! 0% fee!
At pool.mn branded pools you will enjoy 0% fee and 100% uptime as ~2Gh/s worth of miners all over the world do!

[fairglu]

https://pot.hash.so/ is @28.8%
http://pot.scryptominers.com/ @12.1%
http://pot.bitember.com/ @6.9%

of the network hash, maybe you missed one of these?

I've identified their latest blocks AFAICT, the big one I'm missing mines to PFt8gAwv55fqA8xwPAEfasgVepzQaGAB6m, it seems to be making the bulk of the "unknown" listed at http://chainz.cryptoid.info/pot/ ...

[fyubr]

https://pot.hash.so/ is @28.8%
http://pot.scryptominers.com/ @12.1%
http://pot.bitember.com/ @6.9%

of the network hash, maybe you missed one of these?

I've identified their latest blocks AFAICT, the big one I'm missing mines to PFt8gAwv55fqA8xwPAEfasgVepzQaGAB6m, it seems to be making the bulk of the "unknown" listed at http://chainz.cryptoid.info/pot/ ...

'
I'm fairly sure the "unknown" is just the term they use for all the other pools not listed, there are over 25+ pools ive seen for potcoin and they all add up to account for a decent amount.

[fairglu]

I'm fairly sure the "unknown" is just the term they use for all the other pools not listed

More accurately, it's the term I use, since I'm the one making that site

As for PFt8gAwv55fqA8xwPAEfasgVepzQaGAB6m, I'm not entirely sure it's a pool, the address transactions don't look like your typical pool. It could be a big "solo" miner / farm, if so, it's probably a sight to see (or an ASIC...)

[fyubr]

I'm fairly sure the "unknown" is just the term they use for all the other pools not listed

More accurately, it's the term I use, since I'm the one making that site

As for PFt8gAwv55fqA8xwPAEfasgVepzQaGAB6m, I'm not entirely sure it's a pool, the address transactions don't look like your typical pool. It could be a big "solo" miner / farm, if so, it's probably a sight to see (or an ASIC...)

O wow I just realized something! I saw your post and remembered I had seen a site like it posted on reddit. When I saw your post I went back and found that site, thats the site (well your site lol) where I got the stats I posted to, I was going to include that link in my post but got distracted and forgot to include it, giving you advice from and on your site lol!. Anyways If its a wallet address I think its on a p2pool thats private or maybe only a group of people know about (would be awesome if that was a group of dispensaries ) or possible one massive whale, someone who has been in the game along time.

~Have a good night

[flipme]

Is it possible to change Potcoin to Scrypt-N?
If yes, that would be my suggestion for a re-design.
I think what happened to Bitcoin in regard to ASICs won't happen to Scrypt coins that way.
I think Scrypt will be abandoned for PoW, if only ASIC owners could mine them.
For most of the Scrypt coins there is no real market and the inflation will kill them.

I'm all for GPU mining.
Look whats happening to VTC.

I think it is most important to build a mostly independent transfer cycle.
Big growers, vendors, merchants could spin off their own mines and sell the coins to the folk thru outlets.
The more it decouples from Bitcoin, the better. Make it a currency on its own.

Scrypt N is total crap GPU killer and uneconomical. X11 is superior. 50% less energy consumption and heat, 11 hashing algorithms for super secure hashing and asic resistant if not proof.

Can you elaborate a little bit of why you would refer to Scrypt-N as a "total crap GPU killer".
It works quite alright just for the Vertcoin.
Have a look how the coin is performing and then tell me again its crap Mr. Smart.
And "crap" is what I do in the morning, after my first coffee.

[MoneyMuscles]

Is it possible to change Potcoin to Scrypt-N?
If yes, that would be my suggestion for a re-design.
I think what happened to Bitcoin in regard to ASICs won't happen to Scrypt coins that way.
I think Scrypt will be abandoned for PoW, if only ASIC owners could mine them.
For most of the Scrypt coins there is no real market and the inflation will kill them.

I'm all for GPU mining.
Look whats happening to VTC.

I think it is most important to build a mostly independent transfer cycle.
Big growers, vendors, merchants could spin off their own mines and sell the coins to the folk thru outlets.
The more it decouples from Bitcoin, the better. Make it a currency on its own.

Scrypt N is total crap GPU killer and uneconomical. X11 is superior. 50% less energy consumption and heat, 11 hashing algorithms for super secure hashing and asic resistant if not proof.

Can you elaborate a little bit of why you would refer to Scrypt-N as a "total crap GPU killer".
It works quite alright just for the Vertcoin.
Have a look how the coin is performing and then tell me again its crap Mr. Smart.
And "crap" is what I do in the morning, after my first coffee.

Quote taken from here: http://www.reddit.com/r/Hirocoin/comments/215lkd/changing_landscape_for_scrypt/

The GPU mining landscape is about to change drastically and many have not woken up to this fact. KNc recently took $2m in pre-orders for their 100MH Scrypt ASIC. These may start coming on to the network in Q2/Q3 of this year. There is no doubt that these will be turned on to many of the small Scrypt coins out there to strip them, sell the coins and then leave. This is going to leave many small coins unusable, many have less than 1MH. People do not seem to be aware of the problems this is going to cause and perhaps were not around for the SHA-256 ASICs turning up. This left many small SHA-256 at the time in a state where they had to hard fork to resolve the issues and others just disappeared. It is possible to move hashing algos in those coins.
Some may remember that Terracoin was a target for the SHA-256 ASICs, with the very large hashing power Terracoin was left no alternative but to hard fork its way out of trouble. For all that they tried to dodge the ASICs these devices were used again to run some very devastating attacks on Terracoin forcing them to amend their code again and hard fork. The additional hard fork was an exceptional case as their attempts to introduce smoother difficulty adjust left flaws in their code.
There other hash solutions out there the best known of these being Scrypt-Jane and Adaptive-N which for the most part are the same. They both use a variable N factor which is locked to 210 in Scrypt. This is the memory requirement, 210 works out to 1024 bytes. Vertcoin a very popular Adaptive-N coin currently uses an N factor of 211 which works out to 2048 bytes, every time the N factor goes up the performance of miners drops by half. Vertcoin currently has half the performance of Scrypt and has a maximum N of 232 which works out to 4GB, most graphic cards cannot even do work at that level and with the current hash rate the difficulty of Vertcoin could not go low enough to support that level of N. Scrypt-Jane and Adaptive-N may be ASIC hostile but they are also GPU hostile.
There is an alternative that has been largly over looked which was created by Even Duffield. This is the chap who created DarkCoin which looks to include the DarkSend feature that will allow anonymous transactions. X11 uses 11 well known and high performing hashing solutions chained together to generate the hashes required to generate new blocks. Since it uses 11 different hashes it is complex and unlikely to see a ASIC for it any time soon. The good news for miners is that they can use X11 right now to avoid multipools and start gathering coins that are going to become very important when the Scrypt ASICs hit. Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates more heat. This is the solution that people have been looking for.
There is also Hirocoin that has launched recently and adopted X11 as its hashing solution. Hirocoin does not have the DarkSend feature but has been meticulously coded and fully featured on launch including DNS seed and binaries for different platforms. DarkCoin uses an inverse difficulty reward which means that the higher the difficulty the lower the reward. More miners means less coins, Hirocoin is more conventional in that it has 400 coins a block and is likely to be the first choice for miners.
For all that there is the X11 alternative for GPU mining there does not seem to be any Scrypt coins who are seriously talking about changing their hashing algorithms. They may soon have their hand forced in the same way that Terracoin had no choice but to fork. However many small Scrypt coins do not seem to have an active developer in site, just communities of users who may soon be left without a working coin.

I think if possible we should change to X11 before script asics tear us apart. I think we are already suffering being strip mined for BTC and BC and our price is suffering for being up on coinwarz/poolwarz. I think if we make this move early enough in our existence we could set ourselves apart early from the other coins, especially from the clone POTcoins. Avoid being strip mined because it will become very easy. KNC already accepted 2 million dollars worth of orders for their 100Mhs script asic miners.

As soon as we set ourselves apart and make it difficult to mine for asics, we could then also take advantage of the price boosting effects of a multipool.

[flipme]

Is it possible to change Potcoin to Scrypt-N?
If yes, that would be my suggestion for a re-design.
I think what happened to Bitcoin in regard to ASICs won't happen to Scrypt coins that way.
I think Scrypt will be abandoned for PoW, if only ASIC owners could mine them.
For most of the Scrypt coins there is no real market and the inflation will kill them.

I'm all for GPU mining.
Look whats happening to VTC.

I think it is most important to build a mostly independent transfer cycle.
Big growers, vendors, merchants could spin off their own mines and sell the coins to the folk thru outlets.
The more it decouples from Bitcoin, the better. Make it a currency on its own.

Scrypt N is total crap GPU killer and uneconomical. X11 is superior. 50% less energy consumption and heat, 11 hashing algorithms for super secure hashing and asic resistant if not proof.

Can you elaborate a little bit of why you would refer to Scrypt-N as a "total crap GPU killer".
It works quite alright just for the Vertcoin.
Have a look how the coin is performing and then tell me again its crap Mr. Smart.
And "crap" is what I do in the morning, after my first coffee.

Quote taken from here: http://www.reddit.com/r/Hirocoin/comments/215lkd/changing_landscape_for_scrypt/

The GPU mining landscape is about to change drastically and many have not woken up to this fact. KNc recently took $2m in pre-orders for their 100MH Scrypt ASIC. These may start coming on to the network in Q2/Q3 of this year. There is no doubt that these will be turned on to many of the small Scrypt coins out there to strip them, sell the coins and then leave. This is going to leave many small coins unusable, many have less than 1MH. People do not seem to be aware of the problems this is going to cause and perhaps were not around for the SHA-256 ASICs turning up. This left many small SHA-256 at the time in a state where they had to hard fork to resolve the issues and others just disappeared. It is possible to move hashing algos in those coins.
Some may remember that Terracoin was a target for the SHA-256 ASICs, with the very large hashing power Terracoin was left no alternative but to hard fork its way out of trouble. For all that they tried to dodge the ASICs these devices were used again to run some very devastating attacks on Terracoin forcing them to amend their code again and hard fork. The additional hard fork was an exceptional case as their attempts to introduce smoother difficulty adjust left flaws in their code.
There other hash solutions out there the best known of these being Scrypt-Jane and Adaptive-N which for the most part are the same. They both use a variable N factor which is locked to 210 in Scrypt. This is the memory requirement, 210 works out to 1024 bytes. Vertcoin a very popular Adaptive-N coin currently uses an N factor of 211 which works out to 2048 bytes, every time the N factor goes up the performance of miners drops by half. Vertcoin currently has half the performance of Scrypt and has a maximum N of 232 which works out to 4GB, most graphic cards cannot even do work at that level and with the current hash rate the difficulty of Vertcoin could not go low enough to support that level of N. Scrypt-Jane and Adaptive-N may be ASIC hostile but they are also GPU hostile.
There is an alternative that has been largly over looked which was created by Even Duffield. This is the chap who created DarkCoin which looks to include the DarkSend feature that will allow anonymous transactions. X11 uses 11 well known and high performing hashing solutions chained together to generate the hashes required to generate new blocks. Since it uses 11 different hashes it is complex and unlikely to see a ASIC for it any time soon. The good news for miners is that they can use X11 right now to avoid multipools and start gathering coins that are going to become very important when the Scrypt ASICs hit. Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates more heat. This is the solution that people have been looking for.
There is also Hirocoin that has launched recently and adopted X11 as its hashing solution. Hirocoin does not have the DarkSend feature but has been meticulously coded and fully featured on launch including DNS seed and binaries for different platforms. DarkCoin uses an inverse difficulty reward which means that the higher the difficulty the lower the reward. More miners means less coins, Hirocoin is more conventional in that it has 400 coins a block and is likely to be the first choice for miners.
For all that there is the X11 alternative for GPU mining there does not seem to be any Scrypt coins who are seriously talking about changing their hashing algorithms. They may soon have their hand forced in the same way that Terracoin had no choice but to fork. However many small Scrypt coins do not seem to have an active developer in site, just communities of users who may soon be left without a working coin.

I think if possible we should change to X11 before script asics tear us apart. I think we are already suffering being strip mined for BTC and BC and our price is suffering for being up on coinwarz/poolwarz. I think if we make this move early enough in our existence we could set ourselves apart early from the other coins, especially from the clone POTcoins. Avoid being strip mined because it will become very easy. KNC already accepted 2 million dollars worth of orders for their 100Mhs script asic miners.

As soon as we set ourselves apart and make it difficult to mine for asics, we could then also take advantage of the price boosting effects of a multipool.

Hm, sounds good. I'll give it a try with sph-sgminer and Darkcoin.

On the other hand its not all bad if there are a lot of coins available for cheap in the beginning.
All stupid miners are selling at the bid all day long. Let them do all the work and then later you rape them.
Its easy to get the coins cheap if you play the same game by placing orders just a little higher than the usual sharks.

Merchants, growers and vendors could build a chest, wait for the new version to come out and then start promoting and selling to their customers. If well timed it could create a nice vacuum.

Edit: the quoted description of X11 says it generates more heat, which is probably wrong.

[Kitaj]

The green PotCoin pool!

http://potcoin.cryptocoinpool.net

At 0% Fee Donation go to Charity

Happy mining...

[Sardine]

"Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates more heat"

Admittedly, I am ignorant about X11.  I know nothing about it.
"uses less energy and generates more heat"  makes no sense.
When a processor uses less energy, it should generate less heat, not more heat.

I don't deny that X11 may be more ASIC resistant than scrypt and scrypt-n.
But consider this.

Yesterday, I briefly switched my GPU's to mining a new scrypt-n coin.
What is the difference between mining POT and mining this other scrypt-n coin?
The scrypt-n coin mined at approximately 1/2 hash rate of POT coin with gpu usage at 99-100%.
Same gpu usage and same gpu temperature as when POT coin runs.
POT mining allocates 500-600MB vram.  The scrypt-n coin allocates 1000-1100MB vram.

Personally, I had zero issues running scrypt-n on my 2GB graphics cards.  One-half hash rate did not bother me at all.
As long as my gpu's are running at 99-100% gpu usage, then in general, that means my gpu's are hashing as fast as possible.
The slower hash rate simply means new coins are produced at a slower rate.  The gpu's still generate coins as fast as possible.

If switching from scrypt to X11 would increase the production of new coins by 3-4 times the current rate, then I am definitely against it.
POT developers are considering to decrease the mining rate of new coins.  No one (except maybe dumpers) wants the rate of new coin production to increase.

Show me an ASIC which mines scrypt-n and then I will believe that scrypt-n is insufficient protection against ASIC's.

By the way, the little ASIC miners don't bother me at all.  In fact, they might even be good for the coin industry.
The little ASIC's are not terribly expensive and are very energy efficient.
The big, powerful, expensive ASIC machines are a big problem since only rich people will buy them (rich people become richer), and as already stated, they cause problems for coins with low net hash rate.

[vesperwillow]

I haven't kept up with this thread daily, but pop in every now and then. I heard people were considering switching from Scrypt, so I had to pop in here.

WTF would you do that? Because of the fear of ASIC? You guys realize hashpower = security, right? ScryptN ASIC is under development, I estimate Q4 you will see them.

Go find me coins which have serious value which have completely switched algo's and design and have stayed alive. Go on, I'll wait. I might be waiting until eternity. The biggest death of any coin is lack of use, not ASICs eating it up. Shoot, being listed on Cryptsy has done more to harm the value lately than ASIC's mining the coin.

Instead of being worried about block value and being "raped by ASIC" (lawdy lawdy), you guys need to study successful coins and business uses and focus on deploying toward that. There's no feasible/reasonable reason to completely change the foundation of a coin to avoid hashpower security, especially when the coin is still in its infancy.

You'll always have dumpers, you'll always have pumpers, but stability comes when volatility is minimized by volume of legitimate use and increasing hashpower.

Also, less power and more heat? Seriously? Please tell me that was a 12yr old who posted that, and not an adult who can do 2+2.

[PotCoin]

I haven't kept up with this thread daily, but pop in every now and then. I heard people were considering switching from Scrypt, so I had to pop in here.

WTF would you do that? Because of the fear of ASIC? You guys realize hashpower = security, right? ScryptN ASIC is under development, I estimate Q4 you will see them.

Go find me coins which have serious value which have completely switched algo's and design and have stayed alive. Go on, I'll wait. I might be waiting until eternity. The biggest death of any coin is lack of use, not ASICs eating it up. Shoot, being listed on Cryptsy has done more to harm the value lately than ASIC's mining the coin.

Instead of being worried about block value and being "raped by ASIC" (lawdy lawdy), you guys need to study successful coins and business uses and focus on deploying toward that. There's no feasible/reasonable reason to completely change the foundation of a coin to avoid hashpower security, especially when the coin is still in its infancy.

You'll always have dumpers, you'll always have pumpers, but stability comes when volatility is minimized by volume of legitimate use and increasing hashpower.

Also, less power and more heat? Seriously? Please tell me that was a 12yr old who posted that, and not an adult who can do 2+2.

we are not changing from scrypt people!

all we wanted to discuss is halving the coin, and most people are saying NO.

[flipme]

I haven't kept up with this thread daily, but pop in every now and then. I heard people were considering switching from Scrypt, so I had to pop in here.

WTF would you do that? Because of the fear of ASIC? You guys realize hashpower = security, right? ScryptN ASIC is under development, I estimate Q4 you will see them.

Go find me coins which have serious value which have completely switched algo's and design and have stayed alive. Go on, I'll wait. I might be waiting until eternity. The biggest death of any coin is lack of use, not ASICs eating it up. Shoot, being listed on Cryptsy has done more to harm the value lately than ASIC's mining the coin.

Instead of being worried about block value and being "raped by ASIC" (lawdy lawdy), you guys need to study successful coins and business uses and focus on deploying toward that. There's no feasible/reasonable reason to completely change the foundation of a coin to avoid hashpower security, especially when the coin is still in its infancy.

You'll always have dumpers, you'll always have pumpers, but stability comes when volatility is minimized by volume of legitimate use and increasing hashpower.

Also, less power and more heat? Seriously? Please tell me that was a 12yr old who posted that, and not an adult who can do 2+2.

If you would have bothered to read the original reddit quote you'd have noticed that its a mistake by the author.
Of course it generates less heat.

Ooh, and you sound very concerned. Rage much ASIC freak?
I hope you'll hit a wall this time around.
Your arguments above are very cheap propaganda.

If most of the Altcoins were changing algos in a concerted effort there would be some turmoil shortly, but afterwards one distorting factor would just be missing. YOU.

How has it hurt the coin being on Cryptsy? Its in a range like before, maybe 10% less. Good volume though.

[bigc1984]

I haven't kept up with this thread daily, but pop in every now and then. I heard people were considering switching from Scrypt, so I had to pop in here.

WTF would you do that? Because of the fear of ASIC? You guys realize hashpower = security, right? ScryptN ASIC is under development, I estimate Q4 you will see them.

Go find me coins which have serious value which have completely switched algo's and design and have stayed alive. Go on, I'll wait. I might be waiting until eternity. The biggest death of any coin is lack of use, not ASICs eating it up. Shoot, being listed on Cryptsy has done more to harm the value lately than ASIC's mining the coin.

Instead of being worried about block value and being "raped by ASIC" (lawdy lawdy), you guys need to study successful coins and business uses and focus on deploying toward that. There's no feasible/reasonable reason to completely change the foundation of a coin to avoid hashpower security, especially when the coin is still in its infancy.

You'll always have dumpers, you'll always have pumpers, but stability comes when volatility is minimized by volume of legitimate use and increasing hashpower.

Also, less power and more heat? Seriously? Please tell me that was a 12yr old who posted that, and not an adult who can do 2+2.

we are not changing from scrypt people!

all we wanted to discuss is halving the coin, and most people are saying NO.

Not changing from scrypt? Can't afford to just burn GPUs out for no good reason expecially when ASICs are going to come and make all the work i did look like a speck of dust. My gpus already run at 88c with scrypt, running up my AC bill in the middle of winter, can you imagine how it's going to get in summer? I only invest long term in cutting edge, innovative coins that offer features, not get rich schemes. Scrypt is on the way out the door, it's inferior to other hashing algorithms so why not evolve? Notice how much the price has gone down for potcoin since you made that announcement? It was that announcement alone that brought the price down. I've been with potcoin since DAY 1 and have helped spread the word, been active on reddit, etc. I'm pulling out and putting on darkcoin.

[coinano]

Hello PotCoin Community.

We added POT to our voting poll.
You can vote for POT at coinano.com/vote

Our reward system will give a different and exciting experience.
Be online, trade safely&funny and always win !  
Happy trading !!


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