[ANN][RIC] Riecoin: constellations POW *CPU* HARD FORK successful, world record

[dogaatac]

omg ...

0.0003 unbelievable

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[dga]

ok - windows build (very beta) of my miner is now online, same URL - http://www.cs.cmu.edu/~dga/crypto/ric/

It's the one that ends in .exe.  Same dev fee, but this one is 9% me, 0.5% jh00, 0.5% clintar - I used his mingw makefile.

I'll be chipping that fee down over the coming days, but hopefully it's worthwhile running now even with it.

[northranger79510]

omg ...

0.0003 unbelievable

I wouldn't worry about prices although they are depressing.

[dga]

10% developer fee..   

I am pretty sure this is a fad. Eventually the most efficient miners will be open-source. If people really wanted to donate to the developers, they would do so the old-fashioned way... 

I suggest:

• Do not worry about price drops. Do not sell at a loss.
• patience

Also, I will donate around 20% of infinity pool's collected fees to the developers of the most efficient mining software.

Keep in mind infinitypool is in alpha, the mining software and pool software is not the most efficient, and these will most likely improve as time goes on. Currently when blocks are found, they are rejected, and the mining software submits invalid shares often.

People don't _want_ to pay for anything.  *grin*  The question is simply how the devs can get paid for their effort.  Watch, for example, the ongoing discussion about the Heavycoin GPU miner over in https://bitcointalk.org/index.php?topic=167229.8860 .

So I wouldn't call it a fad - what I'd call it is a short-term way of extracting value from a lot of programming effort.  I don't plan on leaving mine binary only / dev fee for long;  just long enough to get paid for some of my time.  I do this out of interest and fun, not as a business, so I'll open source it (you can see my history of this with other coins -- scrypt for cuda, PTS CPU and GPU).

But I actually disagree about the dev fee.  I've been convinced by the success of the Yam miner that it's one of the best overall models for short-to-medium-term funding of miner development.

After all - why do you charge a fee on your pool?  *grin*

The alternatives are worse for the coin, I think:  If you look at what's happening with RIC right now, for example, there's one person solo mining 10% of the blocks with a private, super-optimized miner (not mine;  user a00k).  Supercomputing could be doing it too.  Any of the advanced miner devs could rent out a ton of machines quite profitably and mine on them.  But I think those approaches aren't nearly as good for the coin as having a lot of people interested in it and participating -- and finding huge prime clusters.  The alternative leaves every-day miners disgruntled at their block rates, which is part of why I'm releasing my stuff, beyond the annoying cheater on ypool.  Riecoin is cool and fun, and I want people to be having fun mining it and participating.

[northranger79510]

10% developer fee..   

I am pretty sure this is a fad. Eventually the most efficient miners will be open-source. If people really wanted to donate to the developers, they would do so the old-fashioned way... 

I suggest:

• Do not worry about price drops. Do not sell at a loss.
• patience

Also, I will donate around 20% of infinity pool's collected fees to the developers of the most efficient mining software.

Keep in mind infinitypool is in alpha, the mining software and pool software is not the most efficient, and these will most likely improve as time goes on. Currently when blocks are found, they are rejected, and the mining software submits invalid shares often.

Agreed 100%.

[surfer43]

...
After all - why do you charge a fee on your pool?  *grin*

The alternatives are worse for the coin, I think:  If you look at what's happening with RIC right now, for example, there's one person solo mining 10% of the blocks with a private, super-optimized miner (not mine;  user a00k).  Supercomputing could be doing it too.  Any of the advanced miner devs could rent out a ton of machines quite profitably and mine on them.  But I think those approaches aren't nearly as good for the coin as having a lot of people interested in it and participating -- and finding huge prime clusters.  The alternative leaves every-day miners disgruntled at their block rates, which is part of why I'm releasing my stuff, beyond the annoying cheater on ypool.  Riecoin is cool and fun, and I want people to be having fun mining it and participating.

Yeah, but over time it will get better as more optimized miners are released. I charge a pool fee to "cover expenses"  

I did try to implement a developer fee, but the way I thought of doing it (probably very hacky) was just to hard to implement without knowing more C++, php, and python :/

[antonio8]

ok - windows build (very beta) of my miner is now online, same URL - http://www.cs.cmu.edu/~dga/crypto/ric/

It's the one that ends in .exe.  Same dev fee, but this one is 9% me, 0.5% jh00, 0.5% clintar - I used his mingw makefile.

I'll be chipping that fee down over the coming days, but hopefully it's worthwhile running now even with it.

Running it now and will let it settle in then I'll report back.

[antonio8]

...
After all - why do you charge a fee on your pool?  *grin*

The alternatives are worse for the coin, I think:  If you look at what's happening with RIC right now, for example, there's one person solo mining 10% of the blocks with a private, super-optimized miner (not mine;  user a00k).  Supercomputing could be doing it too.  Any of the advanced miner devs could rent out a ton of machines quite profitably and mine on them.  But I think those approaches aren't nearly as good for the coin as having a lot of people interested in it and participating -- and finding huge prime clusters.  The alternative leaves every-day miners disgruntled at their block rates, which is part of why I'm releasing my stuff, beyond the annoying cheater on ypool.  Riecoin is cool and fun, and I want people to be having fun mining it and participating.

Yeah, but over time it will get better as more optimized miners are released. I charge a pool fee to "cover expenses"  

I did try to implement a developer fee, but the way I thought of doing it (probably very hacky) was just to hard to implement without knowing more C++, php, and python :/

surfer,

Is your pool the Infinity Pool? If so are you all finding blocks?

Would like to try something else besides Ypool.

[surfer43]

...
After all - why do you charge a fee on your pool?  *grin*

The alternatives are worse for the coin, I think:  If you look at what's happening with RIC right now, for example, there's one person solo mining 10% of the blocks with a private, super-optimized miner (not mine;  user a00k).  Supercomputing could be doing it too.  Any of the advanced miner devs could rent out a ton of machines quite profitably and mine on them.  But I think those approaches aren't nearly as good for the coin as having a lot of people interested in it and participating -- and finding huge prime clusters.  The alternative leaves every-day miners disgruntled at their block rates, which is part of why I'm releasing my stuff, beyond the annoying cheater on ypool.  Riecoin is cool and fun, and I want people to be having fun mining it and participating.

Yeah, but over time it will get better as more optimized miners are released. I charge a pool fee to "cover expenses"  

I did try to implement a developer fee, but the way I thought of doing it (probably very hacky) was just to hard to implement without knowing more C++, php, and python :/

surfer,

Is your pool the Infinity Pool? If so are you all finding blocks?

Would like to try something else besides Ypool.

Yes it is. Block-finding shares are rejected currently, so I wouldn't recommend mining on it right now... Gatra is working on fixing this bug.

[remistevens]

Yea, don't sweat the price folks. Alt coins are down all over, a lot!

Similar thing happened last fall, followed by Bitcoin shooting up, and then everything else along with it.

[agx.io]

Quick summary to AGX's exciting Beta Launch Day: AGX has 11 trading pairs available including RIC/BTC, BC/BTC, VTC/BTC, DGB/BTC, USDE/BTC, NOBL/BTC, MAX/BTC, LTC/BTC, LEAF/BTC, AUR/BTC and DOGE/BTC. We'll be adding additional pairs quickly; follow @AustinGlobalX on Twitter for updates.

Trading is FREE during Beta. Come check out AGX and let us know what you think!

- The Austin Global Team

Find us at:
agx.io
bitcointalk.org/index.php?topic=507474
bitcointalk handles: "agx.io," "AustinGlobal"
twitter.com/AustinGlobalX
austinglobal.tumblr.com

[northranger79510]

Hi Everyone,

Because of Riecoin is growing into a big community, I figured we need to form some sort of organization in order to become more organized. When we unite as one, we are able to finish a lot more quickly than if we are random scatterers on the web doing their own thing. It might sound absurd but I would like to give this a try. I am forming a Riecoin Foundation. The only purpose of the foundation is to equip Riecoin with advance weapons. In other words, our purpose will be to gather funds and allocate funds in order of priority that the community will decide on using a voting system. I have already registered RiecoinFoundation.org. I will also donate 200 RIC to this foundation, in addition to the 150 RIC bounty I might receive for redesigning riecoin.org.

The foundation will be semi-trustless so you can rest assure this is not a scam in anyway nor will the Riecoin that the community donated will vanish in the future. We will of course be requiring donations from the Riecoin community for things such as hiring more developers to work with Gatra to relieve some of his stress that he has been accumulating, creating an android app (I might be able to help), paper wallets, etc. If there is no donations, there is no foundation and Riecoin needs an organized unit right now more than ever if we are going to stand out from the oceans of crypto-currencies already out there.

Now let me get to the semi-trustless part. For this to work, we need a minimum of five people who can dedicate themselves to the Riecoin Foundation. The Riecoin donation that we receive will go into an exchange of our choosing, hidden information from the public. The address will of course be available 24/7 for the community to check the amount inside the wallet. There will be 5 people who will each hold a part of the necessary information to withdraw Riecoin from the wallet. The first and second holds the username and password. The third holds the 2 factor authentication code, the fourth holds the email confirmation that will be required to withdraw Riecoin, and the fifth will hold the QR code required to enable 2 factor authentication in case the third person goes missing. Of course, drawbacks to this is that it will be troublesome and inconvenient to withdraw Riecoin for bounties but I would rather choose security over convenience. This system could fail if all of us decides to work together or if the exchange we hold our Riecoin in gets "hacked", but I see no other options. Keeping it inside the client would not be as trustless since you only need 2 people to work together to withdraw the Riecoin from the wallet (the wallet.dat file and key).

Right now, I am just taking names of all those interested. You can sign up with the google spreadsheet link provided below. I will be PMing those on the list.


https://docs.google.com/spreadsheet/ccc?key=0As6q17G29AHxdFNybXhyWDlJS0ZXZDZUeXRRRVVxZnc&usp=sharing

EDIT:
Timeline (not set in stone):

March 15-March 23: Foundation sign up

March 30-April 4: Create a trustless system for the community to donate Riecoin

April 5-April 6: Upload Riecoin Foundation to riecoinfoundation.org, announce the team, get started.

April 7-Indefinite date: Get community members to donate and find ways to improve Riecoin using donation by providing bounties for:

Android App
More Developers
Marketplace
Wallet Design (like Particle)
Widespread Merchant Integration with bounties for the first couple that accept Riecoin

And the list goes on.....

[surfer43]

A major problem is that this requires trusting the exchange. If the exchange is unknown, how can people be sure there is no corruption?

The address will of course be available 24/7 for the community to check the amount inside the wallet.

Do any exchanges keep all of the Riecoin for a given account at one address?

Finally, before I forget, there is a 200 RIC fee to join this foundation. It is to make sure you are serious and dedicated.

I don't think this is necessary. It should be easy enough to determine if one is serious through other means. I strongly oppose this.

You will also have to reveal your real life identity to the foundation so that we can release this information if you abuse the foundation in any possible ways.

I also oppose this.

The information will be kept private from the public of course.

How can anyone trust this will be the case? This trusts the 5 people fully and equally.

I think a better system is to have trusted parties control arbitrary amounts of the foundation's funds. This system is better because it is not as convoluted, and it is more open and transparent. Rather than making personal information public for accountability, the party will lose all of the trust it had.

[northranger79510]

A major problem is that this requires trusting the exchange. If the exchange is unknown, how can people be sure there is no corruption?

The address will of course be available 24/7 for the community to check the amount inside the wallet.

Do any exchanges keep all of the Riecoin for a given account at one address?

Finally, before I forget, there is a 200 RIC fee to join this foundation. It is to make sure you are serious and dedicated.

I don't think this is necessary. It should be easy enough to determine if one is serious through other means. I strongly oppose this.

You will also have to reveal your real life identity to the foundation so that we can release this information if you abuse the foundation in any possible ways.

I also oppose this.

The information will be kept private from the public of course.

How can anyone trust this will be the case? This trusts the 5 people fully and equally.

I think a better system is to have trusted parties control arbitrary amounts of the foundation's funds. This system is better because it is not as convoluted, and it is more open and transparent. Rather than making personal information public for accountability, the party will lose all of the trust it had.

You have a point. But entrusting any amount of RIC to one individual is too risky even if you split it amongst five. I would rather rely on the current exchanges we have now AGX.io and Poloniex.com owner are identified. Only worries is Mintpal and BTC38. Maybe a solution is to keep a arbitrary amount in multiple random exchanges and withdraw them every month and mix them around the exchanges we have right now? I am for suggestions. Guess for now, I will just take up names of people who are interested in becoming part of the foundation.

[draco71]

Without knowing exactly what I can offer, I would like to join the foundation.

So, I subscribe there and we will short it out I suppose.

[vinani]

Rie Coin Exchange on AGX https://agx.io/markets/289/trade

[antonio8]

ok - windows build (very beta) of my miner is now online, same URL - http://www.cs.cmu.edu/~dga/crypto/ric/

It's the one that ends in .exe.  Same dev fee, but this one is 9% me, 0.5% jh00, 0.5% clintar - I used his mingw makefile.

I'll be chipping that fee down over the coming days, but hopefully it's worthwhile running now even with it.

Back to report.

On my Amd 8350 I am now getting: 2ch/s:  8.835 was 3.784     3 ch/s: 0.216 was  0.071      4 ch/s: 0.0051 was 0.0004
On my Amd 1100T results are         2ch/s: 11.012                   3 ch/s: 0.268                      4 ch/s: 0.0054

I didn't write down my before results on the 1100T since I seen it was a huge improvement on the 8350. My confirmed/unconfirmed balance on YPool is now back to about 2.9026 coins.

I didn't notice a big improvement on my Intel Xeon L5520, I also only ran it for about 20 mins. It went from 2ch/s: 2.910 to 3.230 but it didn't find any shares so I went back to the old one. I will try it again today and be a little more patient with it (also still trying to figure out how to overclock it). I also have not tried it at all on my Amd Phenom II X3 but I am going to try it today also.

Thanks for the work.

[remistevens]

A major problem is that this requires trusting the exchange. If the exchange is unknown, how can people be sure there is no corruption?

The address will of course be available 24/7 for the community to check the amount inside the wallet.

Do any exchanges keep all of the Riecoin for a given account at one address?

Finally, before I forget, there is a 200 RIC fee to join this foundation. It is to make sure you are serious and dedicated.

I don't think this is necessary. It should be easy enough to determine if one is serious through other means. I strongly oppose this.

You will also have to reveal your real life identity to the foundation so that we can release this information if you abuse the foundation in any possible ways.

I also oppose this.

The information will be kept private from the public of course.

How can anyone trust this will be the case? This trusts the 5 people fully and equally.

I think a better system is to have trusted parties control arbitrary amounts of the foundation's funds. This system is better because it is not as convoluted, and it is more open and transparent. Rather than making personal information public for accountability, the party will lose all of the trust it had.

You have a point. But entrusting any amount of RIC to one individual is too risky even if you split it amongst five. I would rather rely on the current exchanges we have now AGX.io and Poloniex.com owner are identified. Only worries is Mintpal and BTC38. Maybe a solution is to keep a arbitrary amount in multiple random exchanges and withdraw them every month and mix them around the exchanges we have right now? I am for suggestions. Guess for now, I will just take up names of people who are interested in becoming part of the foundation.

hmmm, great idea, hard to figure out how best to execute it though. I agree that its probably best if there are not minimum donation limits or requirements to be public to join the foundation. Although that said, I'm happy put 200RIC towards this as well - and don't worry NR, you'll get your bounty for sure when the new site goes live.....

A divided foundation could maybe work. I'm not sure whats best. Lets all think on this some more, but definitely something we need to do one way or another.

Oh and thoughts on website design, while I'm here. Sorry I'm so busy I just have very little time for Riecoining right now. but:

Look and layout to me looked really good. I like it a lot. Fonts, background, everything. 2 things I would note from a very quick survey though:
1)the folder style link boxes halfway down are cool, but could use some sort of a border around them i think - maybe a drop shadow?
2)Would be nice to have a bigger 'team' on the about page. Oh and, I am both Remistevens and Bill Sotnikow. I'm Remi for fun (comedy vids, music), and I'm Bill for clients (my real name). I freelance online so I'm already very public. You can find my address, phone number, work history everything you would need to torment me if needed.

[northranger79510]

Guess the majority of the community (or the one that spoke up) wants Option 2 in the design. I will make fixes with suggestions from the members to spoken up from btctalk and rictalk. Give me a week max. Work has me handling 3 projects so I am swamped. Meanwhile I will ask Gatra to post it live first. It only needs some minor cosmetic fixes so I don't see the problem not to go live with it. Better site = more people interested.

[northranger79510]

For the foundation, I will be PMing those interested in 2 weeks to gather ideas on how to actually implement a trustless system that everyone agrees on. Until then, signups are encouraged. All we need from you is time and dedication.