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

[Tasunko]

1LyCCD9HGS1hKzze1M4q8Vm5W24wrG3dnx

[Nullu]

Any block rewards scheduled today?
Edit: you just posted it, never mind that question  

I finally found a block that was actually worth something, if there is the possibility of block rewards the game of chance is more fun ofc.
Or a script that sends rewards to the poor miners that got 0.00 PMC blocks?  

My initial script idea was to send rewards to miners who mined 0 reward blocks, but unfortunately it proved to be impractical, so I had to abandon that script. I have a reward script running now that injects most blocks with transaction fees while it's running, but due to the way transaction fees are transferred into new blocks by the network, sometimes it can miss one, and it will end up in the previous or the next block.

http://cryptexplorer.com/block/000000000000c5de716b229393bc57a3f7efd558070a5a33ffce712f8ab9f413

That 5 PMC is one of the super bonuses. There's a 0.2% chance of it being generated for any new block on the network. I may increase the probability tonight to 0.4%

[creditcoin_CRD]

Any block rewards scheduled today?
Edit: you just posted it, never mind that question  

I finally found a block that was actually worth something, if there is the possibility of block rewards the game of chance is more fun ofc.
Or a script that sends rewards to the poor miners that got 0.00 PMC blocks?  

My initial script idea was to send rewards to miners who mined 0 reward blocks, but unfortunately it proved to be impractical, so I had to abandon that script. I have a reward script running that injects most blocks with transaction fees while it's running, but due to the way transaction fees are transferred into new blocks by the network, sometimes it can miss one, and it will end up in the previous or the next block.

Mine as well - My block reward script is intended to inject fees in every block, but it also can skip a block now and then depending on how fast consecutive blocks are found.

[dasource]

Faucet going down for maintenance as the wallet has got too large and is causing performance issues.
Be back in 30mins or so....

Faucet is back up and running... Enjoy! http://faucet.premineco.in/

[creditcoin_CRD]

Faucet going down for maintenance as the wallet has got too large and is causing performance issues.
Be back in 30mins or so....

Faucet is back up and running... Enjoy! http://faucet.premineco.in/

Thanks for your work.

[Nullu]

Any block rewards scheduled today?
Edit: you just posted it, never mind that question  

I finally found a block that was actually worth something, if there is the possibility of block rewards the game of chance is more fun ofc.
Or a script that sends rewards to the poor miners that got 0.00 PMC blocks?  

My initial script idea was to send rewards to miners who mined 0 reward blocks, but unfortunately it proved to be impractical, so I had to abandon that script. I have a reward script running that injects most blocks with transaction fees while it's running, but due to the way transaction fees are transferred into new blocks by the network, sometimes it can miss one, and it will end up in the previous or the next block.

Mine as well - My block reward script is intended to inject fees in every block, but it also can skip a block now and then depending on how fast consecutive blocks are found.

I may be able to minimise this effect by reducing the time between looking for blocks to 1 second, although I'm not quite sure what effect this will have on my script. I should be able to adjust it to 2 seconds without any problems. I'll try that first.

[creditcoin_CRD]

Any block rewards scheduled today?
Edit: you just posted it, never mind that question  

I finally found a block that was actually worth something, if there is the possibility of block rewards the game of chance is more fun ofc.
Or a script that sends rewards to the poor miners that got 0.00 PMC blocks?  

My initial script idea was to send rewards to miners who mined 0 reward blocks, but unfortunately it proved to be impractical, so I had to abandon that script. I have a reward script running that injects most blocks with transaction fees while it's running, but due to the way transaction fees are transferred into new blocks by the network, sometimes it can miss one, and it will end up in the previous or the next block.

Mine as well - My block reward script is intended to inject fees in every block, but it also can skip a block now and then depending on how fast consecutive blocks are found.

I may be able to minimise this effect by reducing the time between looking for blocks to 1 second, although I'm not quite sure what effect this will have on my script. I should be able to adjust it to 2 seconds without any problems. I'll try that first.

Mine is set to 5 seconds, seems to be hanging in there. I haven't been brave enough to lower it beyond that.

[The Grinder]

What's up with Poloniex? Seems like it's not updating since 4 hours .

[Nullu]

Block Rewarder Status: Live
Block Rewarder Pot: 104 PMC (Maximum: 150 PMC)
Time: 2 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 5 PMC)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link
Donation Address: 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV

SUPER BONUS: 0.4% CHANCE OF 5 PMC REWARD

Q: How does it work?

1: I use a PMC Wallet specially set up for sending out block rewards.
2: Using a script, I send myself small amounts of PMC. Every time this happens the script also determines what to set the transaction fee as, aka the "block reward".
3: This transaction fee is then injected onto a new block on the network.
4: When a miner finds this block, he will mine that PMC
5: Due to the way transaction fees are handled sometimes several of these "rewards" can appear more than once in a single new block

Let's see how this one plays out.

Seriously guys, if you have any ideas on what sort of bonus conditions I can code in, please share them. I can pretty much do anything within reason. I could base rewards on difficulty, or reward every nth block. If it's a good idea I may implement it.

[creditcoin_CRD]

100 PMC bounty on block 31350

Paid! http://blockchain.premineco.in/a/1JfiXLFrPX

I will continue this AND the on thread giveaway until it is all gone....

[creditcoin_CRD]

Any block rewards scheduled today?
Edit: you just posted it, never mind that question  

I finally found a block that was actually worth something, if there is the possibility of block rewards the game of chance is more fun ofc.
Or a script that sends rewards to the poor miners that got 0.00 PMC blocks?  

My initial script idea was to send rewards to miners who mined 0 reward blocks, but unfortunately it proved to be impractical, so I had to abandon that script. I have a reward script running that injects most blocks with transaction fees while it's running, but due to the way transaction fees are transferred into new blocks by the network, sometimes it can miss one, and it will end up in the previous or the next block.

Maybe creditcoin_CRD can run a fallback script every hour for the blocks that were missed by your Block Rewarder (which is an awesome way to keep ppl mining, thanks) that sends to the addresses that got the 0.00 PMC
I assume he holds the 500k

I was a bit bummed to have only one block with actually something in it, just mining for the sake of fun but still.

You assume wrong - 99.9% of the PMC are in the hands of the users now. The last of the coins are being given away this weekend. There are currently 749.54 left in the DEV balance. It took 3 weeks, but we did manage to give them all out.

[Nullu]

Any block rewards scheduled today?
Edit: you just posted it, never mind that question  

I finally found a block that was actually worth something, if there is the possibility of block rewards the game of chance is more fun ofc.
Or a script that sends rewards to the poor miners that got 0.00 PMC blocks?  

My initial script idea was to send rewards to miners who mined 0 reward blocks, but unfortunately it proved to be impractical, so I had to abandon that script. I have a reward script running that injects most blocks with transaction fees while it's running, but due to the way transaction fees are transferred into new blocks by the network, sometimes it can miss one, and it will end up in the previous or the next block.

Maybe creditcoin_CRD can run a fallback script every hour for the blocks that were missed by your Block Rewarder (which is an awesome way to keep ppl mining, thanks) that sends to the addresses that got the 0.00 PMC
I assume he holds the 500k

I was a bit bummed to have only one block with actually something in it, just mining for the sake of fun but still.

Actually the dev has very little PMC left. Most of it is nearly gone. What is left is being distributed now, and he's using the proceeds from a dice game he set up to feed PMC back into the network.

I'm using my own coins and those that have been donated to the block rewarder. People have been very generous, and it's thanks to them that I'm able to keep this running.

The problem with rewarding zero fee blocks is that it's a retrospective thing. You don't know a block has zero rewards until it is on the network, and there doesn't seem to be an easy way of finding them without somehow reading the blockchain yourself, which isn't straight forward. My first script was designed to do exactly that; search an online block explorer for zero reward blocks and reward miners for them. The problem was that the online blockchain explorers were locking me out due to hitting too many webpages. I could do it if the API wasn't so underwhelming. That script works fine. I could even automate it. But it's unworkable due to the online block explorers.

[creditcoin_CRD]

The upside of this is that the mass dumping on Poloniex should slow up some once the free supply dries up.

[creditcoin_CRD]

I indeed assumed wrong, didn't read the first 100+ pages of this thread, hopefuly ppl won't just sit on the coins they gathered or Tx fees will become zero most of the time  

I agree with you - this is where the rubber meets the road. We need services, and the people need to continue paying it forward for the experiment to work.

[Nullu]

I indeed assumed wrong, didn't read the first 100+ pages of this thread, hopefuly ppl won't just sit on the coins they gathered or Tx fees will become zero most of the time  

Exactly. As long as PMC keeps moving, it will keep generating tx fees for miners. My block rewarder is only meant to be temporary solution until the network activity picks up enough pace to do it without my script, however I have some PMC set aside, so I could do this for weeks if I absolutely had to, but I'd rather it didn't come to that, as I would like to use my set aside funds for bounties for services.

The more people pay into it, the longer it can run also.

[Nullu]

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Started a great campaign to rank Preminecoin. Next days send the reports

1LroQX1G8mRuRJN3Rd5HSbEoVv1LCU6Myu

Great stuff. 

[creditcoin_CRD]

I indeed assumed wrong, didn't read the first 100+ pages of this thread, hopefuly ppl won't just sit on the coins they gathered or Tx fees will become zero most of the time  

Exactly. As long as PMC keeps moving, it will keep generating tx fees for miners. My block rewarder is only meant to be temporary solution until the network activity picks up enough pace to do it without my script, however I have some PMC set aside, so I could do this for weeks if I absolutely had to, but I'd rather it didn't come to that, as I would like to use my set aside funds for bounties for services.

The more people pay into it, the longer it can run also.

Same here, with just a minor adjustment I can keep me reward script running indefinitely.

[Nullu]

I indeed assumed wrong, didn't read the first 100+ pages of this thread, hopefuly ppl won't just sit on the coins they gathered or Tx fees will become zero most of the time  

Exactly. As long as PMC keeps moving, it will keep generating tx fees for miners. My block rewarder is only meant to be temporary solution until the network activity picks up enough pace to do it without my script, however I have some PMC set aside, so I could do this for weeks if I absolutely had to, but I'd rather it didn't come to that, as I would like to use my set aside funds for bounties for services.

The more people pay into it, the longer it can run also.

Same here, with just a minor adjustment I can keep me reward script running indefinitely.

Mine sometimes crashes when a large amount of PMC is donated to it, but I believe it's caused by the network tx fees. I've set a 5 PMC buffer so it should be ok now, but sometimes it still doesn't like moving that much at once. I've tweaked it now so it'll only send a 3rd back at a time if the coins in the block rewarder exceed the maximum safe capacity (currently 150).

I've also tweaked the super bonus to be a 1% chance of a 1 PMC block reward. This seems better than a lower probability of 5 PMC, as the reward can be more frequent.

[creditcoin_CRD]

What's up with Poloniex? Seems like it's not updating since 4 hours .

 I had not noticed it wasn't moving until you pointed it out.

Not really sure.

[Nullu]

What's up with Poloniex? Seems like it's not updating since 4 hours .

 I had not noticed it wasn't moving until you pointed it out.

Not really sure.

Yeah, seems to be a problem with the exchange as it's affecting all coins at the moment. This is part of the problem of only being on one exchange.