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Author Topic: [ANN][RIC] Riecoin: constellations POW *CPU* HARD FORK successful, world record  (Read 654611 times)
bsunau7
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July 15, 2014, 07:29:36 AM
 #3341


(**) It took me about $50 of virtual server to mine about 100 ric over the weekend.  People mining are doing it at a loss, not paying for hardware/power or are using miners which are 40x more efficient that dga's.  Only ypool.net can tell if there is a super miner.


Just picked 3 random(ish) blocks from ypool, 5 users are (consistently) claiming 35% of all coins, with the top earner claiming 10%.  To get that 10% 1 person would need the equivalent of ~2000 Xeon v2 (@2.7GHz) cores.

Regards,

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bsunau7
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Ellieo
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July 15, 2014, 08:39:56 AM
 #3342

I hope RIC or RIC² can be the forefront at Processor-In-Memory technology instead should it decides taking the GPU path for mining later on.

Check out the Micron Automata Processor (AP). It's neither CPU/FPGA nor is it a memory device but a powerful processing “engine” that leverages the massive parallelism found within the memory modules technology in order to provide significant scalability to parallel processing that is also reconfigurable and reprogrammable.

I think it has great potential to solves a lot of Riecoin current (and future) difficulties issue. I'll bet the technology would even ensures the world record of largest prime numbers finding by Riecoin for a long time. Its SDK should be readily available for developer by now.

More info here:
http://www.micron.com/about/innovations/automata-processing
http://www.techradar.com/news/world-of-tech/all-you-need-to-know-about-automata-micron-s-revolutionary-processor-1237982#null



It's the best of both CPU and RAM technology.
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July 15, 2014, 09:49:25 AM
 #3343

it's just an idea... I wanted to see how people felt about it....

It might make for a good marketing coup, but on the other hand, it would send a message of "short term", as you'll then just expect a RIC3, RIC4, etc.

Monero/ByteCoin has a rather severe blockchain bloat issue, they're already nearing the gigabyte for the few transactions they see after a few months, and just wouldn't scale to the transaction level Bitcoin saw last year, let alone the one it'll see if adoption continues.

Also anonymity is still essentially a marketing fad, as most coins of the anonymous cryptos being launched these days are actually on exchanges, where the practical anonymity level goes from quite limited to none.

Infrastructure and services are needed more, I'm thinking services like coinbase for bitcoin which immensely facilitate adoption by merchants. Even if they only use it as a payment processor these days, it allows merchant to get their feet wet, and opens the door to future services based on bitcoin.
Long term goals, marketing and support are what can enable infrastructure and services IMHO.

More urgently in infrastructure, RIC needs at least two more major pools, as currently a successful hack if ypool would take it down.

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July 15, 2014, 10:01:58 AM
 #3344

New feature to the explorer: Largest Wallets!

It's a rich list with addresses aggregated by guesstimated wallets.

Any idea who is the exchange with the #1 wallet?
(if you spot your deposit address in there, you'll know)

Probably either poloniex or yPool

Those are tagged and MintPal as well (though the tagging could be incomplete)

Could be btc38... I can't read Chinese to confirm, are they large enough to be #1 RIC exchange?

Also whoever they are, the RIC richest address seems to be their cold wallet, meaning they control more than 45% of all RIC.

northranger79510
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July 15, 2014, 02:38:17 PM
 #3345





















































What could be nice (not sure if possible) if maybe thinking of cloud mining perhaps in addition to CPU mining?

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northranger79510
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July 15, 2014, 02:53:59 PM
 #3346

New feature to the explorer: Largest Wallets!

It's a rich list with addresses aggregated by guesstimated wallets.

Any idea who is the exchange with the #1 wallet?
(if you spot your deposit address in there, you'll know)

Probably either poloniex or yPool

Those are tagged and MintPal as well (though the tagging could be incomplete)

Could be btc38... I can't read Chinese to confirm, are they large enough to be #1 RIC exchange?

Also whoever they are, the RIC richest address seems to be their cold wallet, meaning they control more than 45% of all RIC.

A double edged sword. On one hand, whoever they are, they are confident enough to hold that much RIC. THere will always be massive holders in any coin so that is normal. On the other, it is troubling to think what they can do with it once RIC prices rise.

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fairglu
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July 15, 2014, 03:58:29 PM
 #3347

A double edged sword. On one hand, whoever they are, they are confident enough to hold that much RIC. THere will always be massive holders in any coin so that is normal. On the other, it is troubling to think what they can do with it once RIC prices rise.
Most probable scenario is they're an exchange with a handful of very large depositors (2-3), and dozens of smaller ones.

The large ones are depositing directly from yPool, it's impossible to know just from looking at the blockchain if they are holding or dumping everything as it arrives (multipool-like), the only way to know that would be to have access at the exchange database Wink

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July 15, 2014, 04:14:20 PM
 #3348

In my opinion a transformation of riecoin might be better than an additional coin in order to avoid people expecting a third or forth (rie-)coin.
northranger79510
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July 17, 2014, 03:14:40 PM
 #3349

Any update this week Gatra? And how is your flu?

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July 18, 2014, 04:12:45 AM
 #3350

Any update this week Gatra? And how is your flu?
I'm fully recovered, thanks! it's winter down here, lots of people got sick with this weather.

miner is still not working though, I'm having problems with the debugger hanging, so it's hard to debug.

price is low! I have to stop constantly checking that android widget or I'll go crazy....


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northranger79510
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July 18, 2014, 02:26:15 PM
 #3351

Any update this week Gatra? And how is your flu?
I'm fully recovered, thanks! it's winter down here, lots of people got sick with this weather.

miner is still not working though, I'm having problems with the debugger hanging, so it's hard to debug.

price is low! I have to stop constantly checking that android widget or I'll go crazy....

Yup. Thinking of using my Litecoin stash and convert to bitcoin and buy ~40k.

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July 18, 2014, 03:18:38 PM
Last edit: July 18, 2014, 03:34:38 PM by dga
 #3352

Thanks for keeping up the development, Gatra.  Sent 4000 RIC from the miner dev fee to you.

7f1beed387890b0d2f56cf9768cb1b346d982ef08b76c86029e29b4ea3b86e9b

(Posted publicly so people know where their miner dev fees are going.)

(btw - if you're taking votes:  I wouldn't change the PoW even if the GPUs hop on it.  I think the cool thing about Riecoin is the fact that it produces something mathematically interesting, and it's not worth sacrificing that in the pursuit of a philosophical goal as questionable as being "CPU-only".)

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July 18, 2014, 11:10:00 PM
 #3353

I'd like to put my CPUs to work mining something.  I made it through the first three pages before I got too bored to read more.

So tell me a few things I don't understand:

1. Does this coin have a true difficulty rating, like pretty much every GPU mineable coin?

2. I see it is traded on MintPal, where I already have an account, currently at a rate of about 40,000 Riecoin to one Bitcoin.

3. What's my profit potential with a few CPUs?  I have an i3-4130, a Sempron 145 unlocked to dual core, a quad core AMD (i forget what it is), a 3.40 Ghz Pentium-D dual core, and a dual core Celeron, like a G-550.  

4. Is this coin mined in pools, or is everyone a solo miner?  If it is in pools, link me the list of pools.

I only care about making as much profit for myself as possible, and I don't give a damn about mining the prime sextuplet numbers or whatever the hell mining this coin is supposed to accomplish.

And the answers are.....?
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July 18, 2014, 11:57:28 PM
 #3354

Hi riecoin community, what service/services do you think this coin needs to make it more valuable?

gatra
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July 19, 2014, 03:37:25 AM
 #3355

Thanks for keeping up the development, Gatra.  Sent 4000 RIC from the miner dev fee to you.

7f1beed387890b0d2f56cf9768cb1b346d982ef08b76c86029e29b4ea3b86e9b

(Posted publicly so people know where their miner dev fees are going.)

(btw - if you're taking votes:  I wouldn't change the PoW even if the GPUs hop on it.  I think the cool thing about Riecoin is the fact that it produces something mathematically interesting, and it's not worth sacrificing that in the pursuit of a philosophical goal as questionable as being "CPU-only".)

thanks! Smiley

Of course the PoW is the heart of Riecoin and what sets it apart from the rest, I wouldn't change that. However I am thinking of making the nonce field 512bits instead of 256. That would give room for more optimized mining and allow us to mine larger sextuplets. What do you think? My quick estimation says mining could go about 5 times faster. Is that correct?


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gatra
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July 19, 2014, 03:46:44 AM
 #3356

And the answers are.....?

1. Does this coin have a true difficulty rating, like pretty much every GPU mineable coin?
yes, all coins have a difficulty rating. You can see it in realtime here: http://api.riecoin.org/difficulty.php
currently it's 1448

2. I see it is traded on MintPal, where I already have an account, currently at a rate of about 40,000 Riecoin to one Bitcoin.
That's not a question, but yes, it is traded at Mintpal. List here (as seen in the OP):
- https://www.mintpal.com/market/RIC/BTC
- https://poloniex.com/exchange/btc_ric
- btc38.com: http://www.btc38.com/trade.html?btc38_trade_coin_name=ric
- comkort

3. What's my profit potential with a few CPUs?  I have an i3-4130, a Sempron 145 unlocked to dual core, a quad core AMD (i forget what it is), a 3.40 Ghz Pentium-D dual core, and a dual core Celeron, like a G-550.  
That's not enough info to estimate profit, and I can't give you any guarantee. I'd encourage you to try and see for yourself.

4. Is this coin mined in pools, or is everyone a solo miner?  If it is in pools, link me the list of pools.
Pools (as seen in the OP):
- http://ypool.net/ (xpt)
- ric.upcpu.com (xpt)


Thanks for your interest and good luck!


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July 19, 2014, 03:49:38 AM
 #3357

Hi riecoin community, what service/services do you think this coin needs to make it more valuable?



the more the merrier!

The most important service would be more pools.
Then it could be online wallets, payment processors, blockchains with api like blockchain.info....


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July 20, 2014, 06:27:52 PM
 #3358

Riecoin appears to be a useless shitcoin, unless someone can prove to me why it isn't.  I checked its exchange rate 2 days ago, and it'd take about 40,000 Riecoins to equal one BitCoin.  That sucks.

I got signed up on ypool and am using the xptminer on several of my PCs to CPU mine Riecoin.

With a total of 5 CPU cores, split between i3, Athlon, and Celeron CPUs, I have gotten 3-1/2 Riecoins in a day and a half.

I am not impressed, to say the least.  I thought it'd be cool to have my CPUs mine something, like the early days of BitCoin, but to have gained less than 1/10,000th of a BTC (about 6 cents) after a day and a half isn't good.
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July 20, 2014, 11:49:35 PM
 #3359

Riecoin appears to be a useless shitcoin, unless someone can prove to me why it isn't.  I checked its exchange rate 2 days ago, and it'd take about 40,000 Riecoins to equal one BitCoin.  That sucks.

I got signed up on ypool and am using the xptminer on several of my PCs to CPU mine Riecoin.

With a total of 5 CPU cores, split between i3, Athlon, and Celeron CPUs, I have gotten 3-1/2 Riecoins in a day and a half.

I am not impressed, to say the least.  I thought it'd be cool to have my CPUs mine something, like the early days of BitCoin, but to have gained less than 1/10,000th of a BTC (about 6 cents) after a day and a half isn't good.

I'm not happy either that I've not made a fortune mining coins!  However just because this coin isn't your path way to riches does not make it a bad coin.  My definition of a shitcoin is a re-branded clone (how many scrypt coins are there all using the same miner and code base?!) this is not one of them.

The biggest issue (and I think this is the case with most CPU coins) is that people will find a way to either mine at zero cost or develop a private miner which remains profitable.

Right now the best way to mine is for heating (http://www.pugetsystems.com/labs/articles/Gaming-PC-vs-Space-Heater-Efficiency-511/) and all that does is offset your power bill somewhat (and this is what my GPU does when I am working from home).

Sorry this coin isn't for you.

Regards,

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July 21, 2014, 12:53:03 AM
 #3360

Thanks for keeping up the development, Gatra.  Sent 4000 RIC from the miner dev fee to you.

7f1beed387890b0d2f56cf9768cb1b346d982ef08b76c86029e29b4ea3b86e9b

(Posted publicly so people know where their miner dev fees are going.)

(btw - if you're taking votes:  I wouldn't change the PoW even if the GPUs hop on it.  I think the cool thing about Riecoin is the fact that it produces something mathematically interesting, and it's not worth sacrificing that in the pursuit of a philosophical goal as questionable as being "CPU-only".)

thanks! Smiley

Of course the PoW is the heart of Riecoin and what sets it apart from the rest, I wouldn't change that. However I am thinking of making the nonce field 512bits instead of 256. That would give room for more optimized mining and allow us to mine larger sextuplets. What do you think? My quick estimation says mining could go about 5 times faster. Is that correct?

Possibly - I'm not sure with my optimizations how much more it will help, though it will certainly help.  The miner does, for example, run out of nonce space after about 30 seconds on a fast CPU right now, and going to 512 bits would provide some improvement that way while also benefitting from a larger primorial.  I'm not sure about 5x, though, but I think it would be non-negligible.

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