[ANN][MAX] MAXcoin - PoW, ASIC Resistance, Keccak GPU Mining

[illodin]

"There will be mining pools available from launch, too" Why if there's no standalone miner?

Maybe the wallet can connect to a pool, who knows? Or am I over estimating their capabilities?

[phobosgrunt]

"There will be mining pools available from launch, too" Why if there's no standalone miner?

Maybe the wallet can connect to a pool, who knows? Or am I over estimating their capabilities?

I think it would be pointless to only include a solo miner, you would never get anything.

I don't want to start a war or something, But the only difference i see with Quark is:
Please note i'm not a pro in these stats, so if i'm wrong, correct me.


The difference:

Quark          vs        MaxCoin
CPU Mining       vs        CPU mining
6 encryption      vs       1 encryption
240 m              vs       250 m coins
30 secondes      vs       30 secondes
0,5% extra       vs       none?


Is it this coin just a striped of version of Quark or what?

James

most of the things you compared dont matter.

block reward - 96 vs 2k(ish)
block reward halving - 1 year vs 2 weeks
time to mine out all coins - decades vs 6 months(ish)

[Grinners]

"There will be mining pools available from launch, too" Why if there's no standalone miner?

Maybe the wallet can connect to a pool, who knows? Or am I over estimating their capabilities?

If that is over-estimating their capabilities then this coin would be in trouble! lol

[singula]

Considering this coin will be CPU-only at launch, are you not worried about botnets having a high % of hashing power compared to the "average" miner?

With scrypt variants this is less of an issue, with coins that have CPU mining only the reward for mining for the average Joe is very limited.

Considering SHA-3 should not be that hard to implement on GPU, are you not worried that CPU miners will be overrun by GPU miners (I guess that whoever writes the miner won't just disclose the source or even its existence) soon after start?
There is already working SHA-3 implementation as part of scrypt-jane miners, so ripping just sha-3 out of it ... wouldn't be probably very hard .

[miramare]

Get everything ready and make it a successful launch!
Plz build some pools as needed.

[vertoe]

Get everything ready and make it a successful launch!
Plz build some pools as needed.

  Someone create a P2Pool plugin for Keccak pls

[gaston909]

MAXCOIN just popped up on the exchange so it looks fairly certain they will be trading it.

[laterbreh]

Is there a source available before launch so we can get some pools ready?

[wizzardTim]

MAXCOIN just popped up on the exchange so it looks fairly certain they will be trading it.

where did you see it? on coins-e?

[brooklynite]

Considering this coin will be CPU-only at launch, are you not worried about botnets having a high % of hashing power compared to the "average" miner?

With scrypt variants this is less of an issue, with coins that have CPU mining only the reward for mining for the average Joe is very limited.

Considering SHA-3 should not be that hard to implement on GPU, are you not worried that CPU miners will be overrun by GPU miners (I guess that whoever writes the miner won't just disclose the source or even its existence) soon after start?
There is already working SHA-3 implementation as part of scrypt-jane miners, so ripping just sha-3 out of it ... wouldn't be probably very hard .

That is exactly what is going to happen. The happy-go-lucky crowd will be making 42 coins a day on their expensive i7-4700k and the GPU miners with their undisclosed mining software will be making 1.2 Million coins during the same day.

Im sorry to say this but there is so much openness and fairness built into Satoshi's implementation of bitcoin technology and continued over to Scrypt, that with the exception of pre-mining and insta-mining, every coin that uses some "innovative" technology (aka giving some secret advantage to the developer) has to be looked at carefully.

[xkinkykongx]

It would be great to get rid of bitcoin but ;


How easy would it be to make an asic miner for sh-3 ?

If it is easy, at least this would become a more widespread coin.

Fuck Bitcoin, it now stands for everything that cryptocurrentcy was invented against !

Yes it has paved a way , but that's it. Everybody who thinks otherwise has his head up too high in the bitcoinblockchain.

You know what I'm saying. You know it's true .

For the people !

[daimyo]

MAXCOIN just popped up on the exchange so it looks fairly certain they will be trading it.

where did you see it? on coins-e?

nothing on coins-e. There isnt a wallet released yet

[xkinkykongx]

Oh yes, and all this Bullshit about the botnets bla bla. Fuck the botnets ! Because of it's popularity this coin will be mined HARD from the start, so the botnets will be just a speck in the ocean...And a good botnet will then automatically switch to sth more profiteable.  Google 'botnets'  before you post !
And then the majority of the mining community will be voting for this coin. So that will mean this coin will make it. This system is perfect ; the majority decides, not just a handful of early adopting premining bitcoin scum who think they are on top of the world right now.

[Sultanen]

The problem with this coin is the algorithm is verry good for ASIC implementations, unlike Scrypt its not verry memory intensive while hashing. Becous of that it will be as centralized at bitcoin mining. I can't see why this wouldn't happen?

[Colin Miner]

The problem with this coin is the algorithm is verry good for ASIC implementations, unlike Scrypt its not verry memory intensive while hashing. Becous of that it will be as centralized at bitcoin mining. I can't see why this wouldn't happen?

Designing and building an ASIC will only be worthwhile financially if they can be made and sold in great quantities. If maxcoin doesn't take off, no one will build ASICs for it.

[cryptoking1]

Considering this coin will be CPU-only at launch, are you not worried about botnets having a high % of hashing power compared to the "average" miner?

With scrypt variants this is less of an issue, with coins that have CPU mining only the reward for mining for the average Joe is very limited.

Considering SHA-3 should not be that hard to implement on GPU, are you not worried that CPU miners will be overrun by GPU miners (I guess that whoever writes the miner won't just disclose the source or even its existence) soon after start?
There is already working SHA-3 implementation as part of scrypt-jane miners, so ripping just sha-3 out of it ... wouldn't be probably very hard .

That is exactly what is going to happen. The happy-go-lucky crowd will be making 42 coins a day on their expensive i7-4700k and the GPU miners with their undisclosed mining software will be making 1.2 Million coins during the same day.

Im sorry to say this but there is so much openness and fairness built into Satoshi's implementation of bitcoin technology and continued over to Scrypt, that with the exception of pre-mining and insta-mining, every coin that uses some "innovative" technology (aka giving some secret advantage to the developer) has to be looked at carefully.

Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!

Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!

[Sultanen]

The problem with this coin is the algorithm is verry good for ASIC implementations, unlike Scrypt its not verry memory intensive while hashing. Becous of that it will be as centralized at bitcoin mining. I can't see why this wouldn't happen?

Designing and building an ASIC will only be worthwhile financially if they can be made and sold in great quantities. If maxcoin doesn't take off, no one will build ASICs for it.

Yea, thats true, but then it doesen't really matter. Have a look at this project: http://rijndael.ece.vt.edu/sha3/sha3chip.html
Already working with Keccak.. Its not to far away.

[MikeH]

Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!

I'm sure someone in here could but they'd probably keep it to themselves   I'm a programmer but only got a mac mini HD3000 atm.

[DooMAD]

this coins is premined ...that is very clear.. right now is being mined by developers. and his botnets. . so that is like 1 week or more being mined.. ....i just hope the prices get below 200 satoshis

Personaly I believe since there is lack of communication that there is something to hide behind the scenes amd pribably max told the devs to keep quiet otherwise they may leak info.. but what i think they are doing is creating optimized version of the miner and not releasing it.. thats the delay part we are seeing. We will be stuck on single threaded qt wallet miners while they use cpu optimized miner maybe on a private pool between individuals.. something seems offf about this release, so I wouldnt be surprised if they did something like this.. something about keiser makes me think of a snake. Then again it is a dog eats dog world.

I don't think anyone's taking these crackpot theories seriously, but by all means keep it up for the entertainment value.

"z0mg its teh conspiracyz."

This is the pre-announcement.  It's stands to reason (I know you guys aren't big on reasoning, but maybe give it a go some time) that all the details will be in the full announcement for the launch on Wednesday.  Once it's all out in the open, people will make informed judgements, rather than just talking out of their arses like you idiots are doing.  

Crackpot conspiracies eh? You clearly dont know how releasing a coin works these days. Put it this way 99% of the coins released today give some sort of advantage to devs thru pre-mining or getting creative. Like I said watch the opening blocks to prove me wrong you will see many goto same addresses.

A way to possibly combat this is perhaps inventing a tool and implementing an idea:

1) Develop a visual tool that lets you see which addresses have mined how many blocks.. maybe a heat map.
2) Incentive then is to create a new address for each block. Make fees high for first fee weeks so it avoids minimg and dumping, creates some market demand from real buyers, and allows tool we created to really show fair or unfair dispursement of coins at launch.
or
3) Simply make it so that difficulty and reward are setup so that unfair distibution doesnt occur.. but this is probably harder than doing the above.

Sure you can have botnets etc but will they really be setup and ready to go the first day of minimg when most of the easy blocks are mined? The diff algo seems to claim that it combats unfair hash distribution but we wont know until launch anyway.

And when you launch your own coin you can (try to) do all those things.  Until then, stop with the guesswork.  Wait and see what happens.  They've said they want a fair launch and I'm going to take them at their word until I see evidence to the contrary.  Not baseless accusations and presumptuous waffling.  Evidence.

And will people stfu about botnets?  There are botnets for bitcoin, but it doesn't mean the bitcoin developers made them.  If they want their coin to succeed, why would they take the risk of being associated with malware to hijack people's computers?  Hence crackpot conspiracies.  You sound like a crazy person.  Take off the tinfoil hat already.

You simply need a reality check. I dont think you understand at all what we are talking about..

I don't think it's possible for anyone to understand what you're talking about, because you're talking a load of bollocks.  Keep it up though, as I'm sure everyone else is finding it as hilarious as I am.

So what if most of the coins at launch go to the same addresses?  That doesn't mean they went to the developers and you have no way of proving otherwise.  You're just making baseless accusations.  
So what if someone sets up a botnet?  Again, that doesn't mean it had anything to do with the developers and you have no way of proving otherwise.  Baseless accusations.
And you're accusing the devs of keeping an optimised miner for themselves while giving everyone else a slower miner?  Again, baseless accusations.  

Who the hell do you think you are to say with no evidence that these people you've never even met are out to scam us all?  If you ever put your money where your enormous mouth is and launch your own coin, I hope people tear you a new one.

[PGPpfKkx]

on Wednesday it will launch or there will be available clients for mining in a future date