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

[Julle313]

How does one begin mining this coin? I'm not so familiar with cpu mining as a whole either. Are there any pools up that I should join or anything and what softwares I should download etc.?

[1715071372]

1715071372

[1715071372]

1715071372

[1715071372]

1715071372

[illodin]

A Basic example for you.  Think of a rng generator.  It has to pick a number from 0-99 and needs to pic the number 0.  Think of that as the way a block is generated ( OK I KNOW ITS NOT BEFORE PEOPLE SLAM IT…its an example.  )

Now think about 2 cpu's running a loop

int result = 100;
while( result > 0 )
    result = random(100);

That loop will continue until result = 0;  Not going to calculate exact clock cycles of that loop or how fast either cpu could execute it but lets say hypothetically that the 4.3 ghz cpu could loop it 4.3 times faster than the 1ghz cpu.  It means it has 4.3 times the chance of hitting 0 before the 1ghz.  Ok randomness gives both cpu's a chance but the 4.3 ghz has more of a chance.

So this is basically my lottery example and you are agreeing with me.  

Now consider 2 1ghz cpu;s running that loop.  They are both running it at same speed but the odd's of them hitting it before the 4.3 is only slightly more.  They are still running at 1ghz though.  They are not running twice as fast because there are 2 of them they are both running at the slower speed.

What?

[reRaise]

Seriously keep out GPU mining, huge GPU farms are ready to mine this coin, it's not fair at all.

[calkob]

How does one begin mining this coin? I'm not so familiar with cpu mining as a whole either. Are there any pools up that I should join or anything and what softwares I should download etc.?

nothing released yet it's release time is 7:30pm GMT tomorrow

[Julle313]

How does one begin mining this coin? I'm not so familiar with cpu mining as a whole either. Are there any pools up that I should join or anything and what softwares I should download etc.?

nothing released yet it's release time is 7:30pm GMT tomorrow

Yep I know when it launches but last time when I started to mine a coin right at the launch I had been able to set mining software ready beforehand and there were already dozens of pools up before the actual launch.

[PJDavis1970]

A Basic example for you.  Think of a rng generator.  It has to pick a number from 0-99 and needs to pic the number 0.  Think of that as the way a block is generated ( OK I KNOW ITS NOT BEFORE PEOPLE SLAM IT…its an example.  )

Now think about 2 cpu's running a loop

int result = 100;
while( result > 0 )
    result = random(100);

That loop will continue until result = 0;  Not going to calculate exact clock cycles of that loop or how fast either cpu could execute it but lets say hypothetically that the 4.3 ghz cpu could loop it 4.3 times faster than the 1ghz cpu.  It means it has 4.3 times the chance of hitting 0 before the 1ghz.  Ok randomness gives both cpu's a chance but the 4.3 ghz has more of a chance.

So this is basically my lottery example and you are agreeing with me.  

Now consider 2 1ghz cpu;s running that loop.  They are both running it at same speed but the odd's of them hitting it before the 4.3 is only slightly more.  They are still running at 1ghz though.  They are not running twice as fast because there are 2 of them they are both running at the slower speed.

What?

Some time ago I had to write a test harness to test some data and speeds.  I suggest you do the same.  create a little app.  Create 6 threads.  Run 1 thread 4.3 times the speed of the other 5.  Write a number generator that uses at least 1000 clock cycles ( a sha-3 algorithm will probably use more than that ).  Run it for an hour and log how many times each threads come to the correct result.

We could discuss this for hours but until you actually see the figures there is no point discussing it any more.

If you do it then come back and show me your results

It is a lottery in a way and Chaos predicts anything could happen  but when it comes down to practise the numbers speak for themselves.

[PJDavis1970]

Anyone else see this in maxcoin twitter

MaxCoin ‏@maxcoinproject  12h
Are there any cgminer guru's willing to lend a hand? We're trying to get a GPU miner built for Wednesday's launch

[multibit]

Like this comment from Max on twitter

Max Keiser ‏@maxkeiser Jan 30
My Irish friend who owns over $100,000,000 in BTC and alts says he's LOVES @maxcoinproject and can't wait to GO BIG!!!

...and the pumps of all pumps begins

So his Irish friend owns 0.5% of all the Bitcoin ?

[multibit]

All this talk of botnets have got me thinking though.  As a software engineer with 27 years behind me and vast experience of writing network software I am wondering how good botnets actually are when it comes to cpu mining solo.  In a pool I can see how botnets would gain a vast amount of hashing power but solo mining is a completely different thing.

First off think about the cpu's that the bonnet will have control off.  The chances are the majority of the cpu's will be low end.  Laptops,  People who are not computer literate enough to protect their machines.  The chances of a botnet having control of a high end gaming rig are low.  Even if they did the chances are that gaming rig will only be on when the person is gaming so the performance for mining will be low because the cpu is in use gaming.

Now think about a botnet of 100 cup's.  Lets go by my previous assumption that those cpu's are low power. Think about how the network will work.  Effectively the botnet is like a pool.  Each of those controlled cpu's mining.  Now think about my i7 running at 4.3ghz.  The chances are my i7 is going to find more blocks than a 100 1 ghz cup's.  The reason is each of those 100 cpu's are all going to be trying to do a calculation and my i7 is faster so it will find it quicker.

Think about 100m race.  if you put Usain Bolt again 100,000 one legged dwarfs then there is still going to be only one winner.

Now I might be completely wrong as I have not red up on how the actually mining and network for crypto coins work but I am sure as hell that it does not share the work equally between all cpu's in a botnet to find the solution quicker.

The Botnet operators deploy their own modified version of CPUminer, they do not deploy wallets, the CPUminer just connects to a pool of their choosing, they are not solomining on their bots.

Correct me if I am wrong since I am not a bot operator. By the time a hacker modify and inject the new codes to the infected computers, that will be a few hours away. Difficulties would already increase.

[multibit]

Are you going to release an external miner? Otherwise I don't see how pools will be available at launch. Seeing as this is supposedly a different implementation of SHA-3, everyone will be forced to just mine through the wallet solo initially.

I think the official website mentioned pool will be available at launch.

[PJDavis1970]

Are you going to release an external miner? Otherwise I don't see how pools will be available at launch. Seeing as this is supposedly a different implementation of SHA-3, everyone will be forced to just mine through the wallet solo initially.

I think the official website mentioned pool will be available at launch.

This is from devs twitter

Luke Crypto ‏@LukeCrypto  12h
@craig_williams1 Hey. We're currently in conversation with two pools. They're porting the software as we speak.

[multibit]

I know absolutely nothing about mining or the technical side of crypto currency.

I have BTC and love what it can hopefully achieve.

Can anybody offer an explanation of the point of all these alt coins?  Do these new coins compliment BTC, are they superior in some way, or is it competition?

Would it not be far better to pooling all knowledge and making BTC achieve greater things, considering it is still very young.

Surely, getting the general masses to adopt BTC is a mammoth task, having all these other coins offering whatever it is they have would totally confuse anyone not familiar with crypto currencies.

I am confused.   Do we really need hundreds of crypto currencies this early?

Well most are just made to pump and dump and make a quick profit on. Nothing more nothing less.

Still confused.  

What is the point of "pump & dump"?  

Surely the whole exercise is to achieve global adoption.  The vast majority are not interested in what you describe.

Newbs and people who want to make a quick profit care. They don't give a shit about cryptocurrency or what it can achieve or represent, they just want to get rich quick.

This guy is so funny. He really is missing something. A brain.

[DooMAD]

Bottom line is, being CPU-only is one of the few things that make this coin interesting.  One of your primary selling points over all the doge/kitteh/other animal clones.  If you want it to become just like every other garden-variety alt, and lose half of the people who would be interested in mining it, then go for GPU.  You said in the original post that you're here to disrupt the market, so stick to your guns and don't just blend in with all the other generic copies.  You said you wanted to keep it fair, so don't hand all the power to the GPU farmers and leave those of us without a powerful gfx card in the dust.

Stick to the plan.

[Wedel]

Any mining software being released yet? How will we mine it? Perhaps solo mine it with wallet ?

[noname_]

Hi miners!
Do you know if I can mine with standard CPU Miner (minerd) or I will have to have new software for SHA-3 script?

[boestin]

But in the end, it is still another bloody Altcoin with nothing new inside

[elixir]

Seriously keep out GPU mining, huge GPU farms are ready to mine this coin, it's not fair at all.

atleast the wont be able to mine it at start. 

[illodin]

A Basic example for you.  Think of a rng generator.  It has to pick a number from 0-99 and needs to pic the number 0.  Think of that as the way a block is generated ( OK I KNOW ITS NOT BEFORE PEOPLE SLAM IT…its an example.  )

Now think about 2 cpu's running a loop

int result = 100;
while( result > 0 )
    result = random(100);

That loop will continue until result = 0;  Not going to calculate exact clock cycles of that loop or how fast either cpu could execute it but lets say hypothetically that the 4.3 ghz cpu could loop it 4.3 times faster than the 1ghz cpu.  It means it has 4.3 times the chance of hitting 0 before the 1ghz.  Ok randomness gives both cpu's a chance but the 4.3 ghz has more of a chance.

So this is basically my lottery example and you are agreeing with me.  

Now consider 2 1ghz cpu;s running that loop.  They are both running it at same speed but the odd's of them hitting it before the 4.3 is only slightly more.  They are still running at 1ghz though.  They are not running twice as fast because there are 2 of them they are both running at the slower speed.

What?

Some time ago I had to write a test harness to test some data and speeds.  I suggest you do the same.  create a little app.  Create 6 threads.  Run 1 thread 4.3 times the speed of the other 5.  Write a number generator that uses at least 1000 clock cycles ( a sha-3 algorithm will probably use more than that ).  Run it for an hour and log how many times each threads come to the correct result.

We could discuss this for hours but until you actually see the figures there is no point discussing it any more.

If you do it then come back and show me your results

It is a lottery in a way and Chaos predicts anything could happen  but when it comes down to practise the numbers speak for themselves.

How do you make a thread 4.3 times faster than others? I might try that experiment.

[gaston909]

Ready, Steady, Go!

[6strings]

If anyone has a spare AWS Power of 60 voucher I'd be ever so grateful if you were to PM it to me.

I'll toss you a nice handful of Maxcoin after launch if so.

Cheers