[ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept

[Nullu]

Ok, so here's what I have;

- Check the blockchain every 3 seconds
- However many blocks have been generated in that time, divide the payout by that
- If txfee is less than 0.00000001, set it to 0.00000001
- current txfee is 0.00010000. So if 10 blocks are generated in 3 seconds, the payout will be 0.00001000

If 0 blocks have been generated you could get a divide by zero error there

Can't happen. It will only run the reward part of the script if 1 or more blocks has been generated.

If no new blocks have been generated, it will wait another 3 seconds until one is.

[elrapido80]

Ok, so here's what I have;

- Check the blockchain every 3 seconds
- However many blocks have been generated in that time, divide the payout by that
- If txfee is less than 0.00000001, set it to 0.00000001
- current txfee is 0.00010000. So if 10 blocks are generated in 3 seconds, the payout will be 0.00001000

If 0 blocks have been generated you could get a divide by zero error there

Can't happen. It will only run the reward part of the script if 1 or more blocks has been generated.

If no new blocks have been generated, it will wait another 3 seconds until one is.

Explorer looks better now with the tx's.

Nahh there's still something wrong, they all have 0.0001 fees, and some blocks still have multiples. Somehow you're sending tx's too often, or there would be more blocks with 0 of your reward tx's.

[Nullu]

Ok, so here's what I have;

- Check the blockchain every 3 seconds
- However many blocks have been generated in that time, divide the payout by that
- If txfee is less than 0.00000001, set it to 0.00000001
- current txfee is 0.00010000. So if 10 blocks are generated in 3 seconds, the payout will be 0.00001000

If 0 blocks have been generated you could get a divide by zero error there

Can't happen. It will only run the reward part of the script if 1 or more blocks has been generated.

If no new blocks have been generated, it will wait another 3 seconds until one is.

Explorer looks better now with the tx's.

Nahh there's still something wrong, they all have 0.0001 fees, and some blocks still have multiples. Somehow you're sending tx's too often, or there would be more blocks with 0 of your reward tx's.

Yeah, not sure what the issue is there. It should be changing that value. For some reason it's not changing the tx fee. I'll look into it.

[Nullu]

It seems to be working fine. It's just that the tx fees don't always necessarily end up in the next block, so there's a slight chance you'll get double or even triple rewards, but I can easily avoid that by upping the time between payouts to balance it out. It's not really such a bad thing anyway. Call it an unintended payout bonus.  

The blockchain isn't move fast enough to see if it will divide the payout when it speeds up, but with this current payout size I can leave it running for a few hours.

Quick sample of my last 3 minute run;

Current Block18924
Difference:1
Payout:0.0001

Current Block18925
Difference:1
Payout:0.0001

Current Block18926
Difference:1
Payout:0.0001

Current Block18927
Difference:1
Payout:0.0001

Current Block18928
Difference:1
Payout:0.0001

Current Block18929
Difference:1
Payout:0.0001

Current Block18930
Difference:1
Payout:0.0001

Current Block18931
Difference:1
Payout:0.0001

Current Block18932
Difference:1
Payout:0.0001

Current Block18933
Difference:1
Payout:0.0001

Current Block18934
Difference:1
Payout:0.0001

Current Block18935
Difference:1
Payout:0.0001

Current Block18936
Difference:1
Payout:0.0001

Current Block18937
Difference:1
Payout:0.0001

As you can see it's running perfectly.

I will now perform a 30 minute run.

Should I be sending myself less than one PMC each time I do this? Can I send 0? What do you think?

[wenwen]

Nullu   YOU ARE TOO CLEVER ,THANKS FOR YOU GOOD  WORK!

[kbroadfoot]

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[SkillRoad]

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[Nullu]

Nullu   YOU ARE TOO CLEVER ,THANKS FOR YOU GOOD  WORK!

Thank you.  

Lets wait and see if it reduces the tx fees when the blockchain speeds up again though.  

[Nullu]

Remember that gambling sites, on the whole, suck up coins. I don't know if they'll actually increase distribution or further centralise it. Although I guess if the owners of the site sell the coins they make, then that would be a form of distribution..

[elrapido80]

As you can see it's running perfectly.

I will now perform a 30 minute run.

Should I be sending myself less than one PMC each time I do this? Can I send 0? What do you think?

I've been told the minimum tx amount for PMC is 0.0000546 but I haven't tested to see if that's true. Be careful though, I've broken wallet.dat files of other coins before by sending too small amounts in a tx.

[Nullu]

As you can see it's running perfectly.

I will now perform a 30 minute run.

Should I be sending myself less than one PMC each time I do this? Can I send 0? What do you think?

I've been told the minimum tx amount for PMC is 0.0000546 but I haven't tested to see if that's true. Be careful though, I've broken wallet.dat files of other coins before by sending too small amounts in a tx.

Thanks for the warning. Maybe I should take some precautions and make sure the amount does not go below that, until I can store the majority of my coins elsewhere.

Couldn't I create a new wallet.dat, swap this one out, and send myself coins to an address in that wallet.dat? I can store the rest in there for safety.

Or I could have the main script run on a different server, and periodically top it up using a script on this machine. That would be quite safe. Infact I could go one better and give you all the donation address.

If anyone wants to top up the blockrewarder, you can just send a payout to the account. 

[creditcoin_CRD]

It seems to be working fine. It's just that the tx fees don't always necessarily end up in the next block, so there's a slight chance you'll get double or even triple rewards, but I can easily avoid that by upping the time between payouts to balance it out. It's not really such a bad thing anyway. Call it an unintended payout bonus.  

The blockchain isn't move fast enough to see if it will divide the payout when it speeds up, but with this current payout size I can leave it running for a few hours.

Quick sample of my last 3 minute run;

Current Block18924
Difference:1
Payout:0.0001

Current Block18925
Difference:1
Payout:0.0001

Current Block18926
Difference:1
Payout:0.0001

Current Block18927
Difference:1
Payout:0.0001

Current Block18928
Difference:1
Payout:0.0001

Current Block18929
Difference:1
Payout:0.0001

Current Block18930
Difference:1
Payout:0.0001

Current Block18931
Difference:1
Payout:0.0001

Current Block18932
Difference:1
Payout:0.0001

Current Block18933
Difference:1
Payout:0.0001

Current Block18934
Difference:1
Payout:0.0001

Current Block18935
Difference:1
Payout:0.0001

Current Block18936
Difference:1
Payout:0.0001

Current Block18937
Difference:1
Payout:0.0001

As you can see it's running perfectly.

I will now perform a 30 minute run.

Should I be sending myself less than one PMC each time I do this? Can I send 0? What do you think?

Mine ran out of money overnight, but I've refilled it. It seems to work good, but runs into slight snags when the blocks are coming too fast.

[elrapido80]

As you can see it's running perfectly.

I will now perform a 30 minute run.

Should I be sending myself less than one PMC each time I do this? Can I send 0? What do you think?

I've been told the minimum tx amount for PMC is 0.0000546 but I haven't tested to see if that's true. Be careful though, I've broken wallet.dat files of other coins before by sending too small amounts in a tx.

Thanks for the warning. Maybe I should take some precautions and make sure the amount does not go below that, until I can store the majority of my coins elsewhere.

Couldn't I create a new wallet.dat, swap this one out, and send myself coins to an address in that wallet.dat? I can store the rest in there for safety.

Or I could have the main script run on a different server, and periodically top it up using a script on this machine. That would be quite safe. Infact I could go one better and give you all the donation address.

If anyone wants to top up the blockrewarder, you can just send a payout to the account. 

Separate wallet.dat is the only way to go if you don't want to lose all your coins due to it breaking yeh. I still think you should leave your script off for now though, I'm sure it's still one guy getting all these rewards now.

[Nullu]

I'll have to see if I run into that issue, but as I use a delay between sending out payouts it should be fine.

Ok, I think this is what I'll do;

Move the script to a 24/7 server, and provide everyone with the donation address;

If the script ever exceeds 100 PMC, the remaining funds will be sent to a cold wallet address. That way, should anything go wrong, any overflow coins will be safe, and it the script needs topping up, I can send them from here to keep it running as long as possible.

I have 2k PMC to keep it running, so it's not going to run out any time soon, but if you want to help keep it running, this would be the way to do it.

I've turned off my script for now, now that I know it works. What I may do is set the minimum possible tx fee higher, and when blocks are being generated faster on the network, add it as an additional delay between sending out rewards.

[shanent]

Or you could create virtual machine and run your scrypt with another wallet.dat on it...same thing.

[Nullu]

Or you could create virtual machine and run your scrypt with another wallet.dat on it...same thing.

I have no idea how to do that. 

[creditcoin_CRD]

Attack?

http://cryptexplorer.com/chain/Premine

What do you mean?

New block every 10 seconds and also less?

In the next wallet update I have added low POW blocks, so if the difficulty gets run through the roof because of this sudden influx of hashes, it will not stay stuck long. I should have included it in this past update, but it wasn't ready.

[Nullu]

Ok, I've changed the script rules;

The faster blocks generate, the less tx fee reward you recieve. Max is,  0.00010000, Minimum is 0.00001000 ;

If the block chain speeds up significantly, then the script will also slow down its payout rate.

Payout rate is 2 seconds + amount of blocks generated since last payout. Any significant increase in blocks will decrease the payouts proportional to that rate until the block generation slows down, either by less hashpower, or a difficulty retarget by the network.

[shanent]

BTW which is the current hashrate of the network ?

[creditcoin_CRD]

I'm in the process of renting some rigs to help with this current problem.  With a little luck they will all be running shortly.