[ANN][SYN] SynCoin | [NO PRE-M][Auto Reward, Anti-ASIC]

[Denmor]

I don't understand why the reward is so small with 250 billion of coins. Does anyone have any calculations on how much time it will take to mine at least 10% of coins with a reasonable net hashrate? Like 500MH\s total?

[Tuck Fheman]

Send the few guys voting No (that actually mined the coin) 5 coins each and call that a relaunch.  

I agree w/the above sentiment that it's a waste of time for a couple of coins. More to risk than gain. Anyone hating on the coin is going to come in this thread and vote no yes (EDIT : I meant they would vote yes to a relaunch) whether they mined or not.

[syncoin]

I don't understand why the reward is so small with 250 billion of coins. Does anyone have any calculations on how much time it will take to mine at least 10% of coins with a reasonable net hashrate? Like 500MH\s total?

Coin is meant to be long-term, hence my vote for no-relaunch.

[syncoin]

Send the few guys voting No (that actually mined the coin) 5 coins each and call that a relaunch.   

I agree w/the above sentiment that it's a waste of time for a couple of coins. More to risk than gain. Anyone hating on the coin is going to come in this thread and vote no whether they mined or not.

Thanks! Interesting to see that sentiment, though. Hopefully the community turns their vote to no.
This is effectively an election in the hands of a direct democracy.

[Shepherd]

I believe this could be a long term coin - relaunch isn't necessary and wouldn't practically benefit anyone economically. It could make things clearer and fairer but I think it's enough it works now.

So, is  http://syncoin.hashrapid.com/ only working not-offical pool now? I see 4 miners there at the moment.

There is also cheaper http://syn.hashstrike.com/  with 0% fee but it's completely empty.  We need more miners to pools, do we?

I have been mining all the time in official pool @ 0.8 Mhash/s and I have about 20 SYN now.

Congratulations! You have 20 coins out of 250,000,000,000.
You are really a big stakeholder. Keeping mining.

that's EXACTLY why there is no need for a relaunch nobody has more than probably couple of hundred coins....there are 250BILLION   the blocks are tiny, probably in 1 month the number of coins in 1 block will be more than has been mined so far.

DEVS just get on with promoting this coin and doing something with it. Relaunch not needed.  Just put your effort into doing other things for the coin.

+1
If you still think that your coin need relaunch why are we mining right now? We are losing our electricity and power for nothing.  

[syncoin]

I believe this could be a long term coin - relaunch isn't necessary and wouldn't practically benefit anyone economically. It could make things clearer and fairer but I think it's enough it works now.

So, is  http://syncoin.hashrapid.com/ only working not-offical pool now? I see 4 miners there at the moment.

There is also cheaper http://syn.hashstrike.com/  with 0% fee but it's completely empty.  We need more miners to pools, do we?

I have been mining all the time in official pool @ 0.8 Mhash/s and I have about 20 SYN now.

Congratulations! You have 20 coins out of 250,000,000,000.
You are really a big stakeholder. Keeping mining.

that's EXACTLY why there is no need for a relaunch nobody has more than probably couple of hundred coins....there are 250BILLION   the blocks are tiny, probably in 1 month the number of coins in 1 block will be more than has been mined so far.

DEVS just get on with promoting this coin and doing something with it. Relaunch not needed.  Just put your effort into doing other things for the coin.

+1
If you still think that your coin need relaunch why are we mining right now? We are losing our electricity and power for nothing.  

I personally DON'T, but if the majority of the community will not be part of SynCoin without a re-launch, that's the voted choice to do.

[pzzkwkj]

我觉得开发商是一个骗子Yes, I think the developer is a scammer, and this would prove otherwise    11 (16.7%)

[syncoin]

我觉得开发商是一个骗子Yes, I think the developer is a scammer, and this would prove otherwise    11 (16.7%)

Yep, that's one reason that a lot of people are voting "yes". And it's not bad, because my rapsheet would be cleared.
But at the cost of everyone's coins mined already.

[cryptohunter]

About the launch on this morning, I don't think it is a total failure.
It always happened in altcoin community.

I mined three hours on the only one working 'official pool' and got nothing.  Won't give any comment on it.

However, when I do some math on the design of syncoin, I find I should never mine it.


At difficulty<=1, the reward is approx 10.   I think I can mine ~100 per day with 1Mh/s.
At difficulty~1000, the reward is less than 10k. While at that difficulty,with small rig,  how many coins will you expect to mine? 10?100?
Another question is who is mad to waste the hashpower on this to hit difficulty?

Truth is

The coin amount is 250billion!

You will get few coins per day with 1mh/s.

I'm not mad, I pass it.

However, you are missing the point. This is the SAME for everyone. Anyone with understanding of economic will realise there is no point generating lots of coins because supply rises and price falls.

The coin is quite clever but i think it is ahead of it's time, people are used to getting millions per block and won't get that this coin has potential to release 250 billion or more but will only do so to stabalise price.

Also it is not a get rich quick scheme i guess so a lot of people won't like that part.

[syncoin]

About the launch on this morning, I don't think it is a total failure.
It always happened in altcoin community.

I mined three hours on the only one working 'official pool' and got nothing.  Won't give any comment on it.

However, when I do some math on the design of syncoin, I find I should never mine it.


At difficulty<=1, the reward is approx 10.   I think I can mine ~100 per day with 1Mh/s.
At difficulty~1000, the reward is less than 10k. While at that difficulty,with small rig,  how many coins will you expect to mine? 10?100?
Another question is who is mad to waste the hashpower on this to hit difficulty?

Truth is

The coin amount is 250billion!

You will get few coins per day with 1mh/s.

I'm not mad, I pass it.

However, you are missing the point. This is the SAME for everyone. Anyone with understanding of economic will realise there is no point generating lots of coins because supply rises and price falls.

The coin is quite clever but i think it is ahead of it's time, people are used to getting millions per block and won't get that this coin has potential to release 250 billion or more but will only do so to stabalise price.

Also it is not a get rich quick scheme i guess so a lot of people won't like that part.

Haha yep! It's a long term coin so the sentiment of getting rich quick is definitely not there. Scarcity for this coin is generated by how hard it is to get, unlike Bitcoin where scarcity is founded by the limit -- which can have problems in the long term due to highly unbalanced coin-holders.

[OrkneyCoiner]

I believe this could be a long term coin - relaunch isn't necessary and wouldn't practically benefit anyone economically. It could make things clearer and fairer but I think it's enough it works now.

So, is  http://syncoin.hashrapid.com/ only working not-offical pool now? I see 4 miners there at the moment.

There is also cheaper http://syn.hashstrike.com/  with 0% fee but it's completely empty.  We need more miners to pools, do we?

I have been mining all the time in official pool @ 0.8 Mhash/s and I have about 20 SYN now.

Congratulations! You have 20 coins out of 250,000,000,000.
You are really a big stakeholder. Keeping mining.

that's EXACTLY why there is no need for a relaunch nobody has more than probably couple of hundred coins....there are 250BILLION   the blocks are tiny, probably in 1 month the number of coins in 1 block will be more than has been mined so far.

DEVS just get on with promoting this coin and doing something with it. Relaunch not needed.  Just put your effort into doing other things for the coin.

+1
If you still think that your coin need relaunch why are we mining right now? We are losing our electricity and power for nothing.  

I personally DON'T, but if the majority of the community will not be part of SynCoin without a re-launch, that's the voted choice to do.

hey stop panicking... I was affected by the weird start as well... we're at block 390 atm, the hashrate is growing... still.. too late for a relaunch imho.

So people -- STAY CALM AND MINE.

to request a relaunch AT BLOCK 300 stinks..

also with that vote, you CANT LIMIT VOTING TO US, THE EARLY ADOPTERS, WHO STARTED WITH A COIN.

so the voting result itself give you a wrong numbers imho.

if the people who came HERE TO THIS VERY THREAD can vote for a relaunch.. what is that all about?

[syncoin]

I believe this could be a long term coin - relaunch isn't necessary and wouldn't practically benefit anyone economically. It could make things clearer and fairer but I think it's enough it works now.

So, is  http://syncoin.hashrapid.com/ only working not-offical pool now? I see 4 miners there at the moment.

There is also cheaper http://syn.hashstrike.com/  with 0% fee but it's completely empty.  We need more miners to pools, do we?

I have been mining all the time in official pool @ 0.8 Mhash/s and I have about 20 SYN now.

Congratulations! You have 20 coins out of 250,000,000,000.
You are really a big stakeholder. Keeping mining.

that's EXACTLY why there is no need for a relaunch nobody has more than probably couple of hundred coins....there are 250BILLION   the blocks are tiny, probably in 1 month the number of coins in 1 block will be more than has been mined so far.

DEVS just get on with promoting this coin and doing something with it. Relaunch not needed.  Just put your effort into doing other things for the coin.

+1
If you still think that your coin need relaunch why are we mining right now? We are losing our electricity and power for nothing.  

I personally DON'T, but if the majority of the community will not be part of SynCoin without a re-launch, that's the voted choice to do.

hey stop panicking... I was affected by the weird start as well... we're at block 390 atm, the hashrate is growing... still.. too late for a relaunch imho.

So people -- STAY CALM AND MINE.

to request a relaunch AT BLOCK 300 stinks..

also with that vote, you CANT LIMIT VOTING TO US, THE EARLY ADOPTERS, WHO STARTED WITH A COIN.

so the voting result itself give you a wrong numbers imho.

if the people who came HERE TO THIS VERY THREAD can vote for a relaunch.. what is that all about?

Hmm, give me three good reasons why I should prevent them from voting for a relaunch and I'll consider taking down the poll.

[Shepherd]

I believe this could be a long term coin - relaunch isn't necessary and wouldn't practically benefit anyone economically. It could make things clearer and fairer but I think it's enough it works now.

So, is  http://syncoin.hashrapid.com/ only working not-offical pool now? I see 4 miners there at the moment.

There is also cheaper http://syn.hashstrike.com/  with 0% fee but it's completely empty.  We need more miners to pools, do we?

I have been mining all the time in official pool @ 0.8 Mhash/s and I have about 20 SYN now.

Congratulations! You have 20 coins out of 250,000,000,000.
You are really a big stakeholder. Keeping mining.

that's EXACTLY why there is no need for a relaunch nobody has more than probably couple of hundred coins....there are 250BILLION   the blocks are tiny, probably in 1 month the number of coins in 1 block will be more than has been mined so far.

DEVS just get on with promoting this coin and doing something with it. Relaunch not needed.  Just put your effort into doing other things for the coin.

+1
If you still think that your coin need relaunch why are we mining right now? We are losing our electricity and power for nothing.  

I personally DON'T, but if the majority of the community will not be part of SynCoin without a re-launch, that's the voted choice to do.

My vote disappeared. It was No(other).
I'm just stop my miner on your coin and I'm waiting decision. If I continue I may lose about 16 hours.

[vindyne8]

Send me some syncoin, since I got 0 in several hours trying last night, and I'll vote for no relaunch.

SV1oNfzjXz9VkcE5SLKqrjjch9Rw1y7R85

Of course those who got coins will vote against a relaunch, as they believe it makes their coins more valuable in the short term. I do not believe it is i the best interest of  the dev, to appease that dozen or so people at the expense of the rest of the entire community, and long-term survival of the coin.

[OrkneyCoiner]

我觉得开发商是一个骗子Yes, I think the developer is a scammer, and this would prove otherwise    11 (16.7%)

Yep, that's one reason that a lot of people are voting "yes". And it's not bad, because my rapsheet would be cleared.
But at the cost of everyone's coins mined already.

I have 750 coins at the moment... in case of chain reset, I do expect from those who voted YES, to replenish my SIN wallet  

[syncoin]

I believe this could be a long term coin - relaunch isn't necessary and wouldn't practically benefit anyone economically. It could make things clearer and fairer but I think it's enough it works now.

So, is  http://syncoin.hashrapid.com/ only working not-offical pool now? I see 4 miners there at the moment.

There is also cheaper http://syn.hashstrike.com/  with 0% fee but it's completely empty.  We need more miners to pools, do we?

I have been mining all the time in official pool @ 0.8 Mhash/s and I have about 20 SYN now.

Congratulations! You have 20 coins out of 250,000,000,000.
You are really a big stakeholder. Keeping mining.

that's EXACTLY why there is no need for a relaunch nobody has more than probably couple of hundred coins....there are 250BILLION   the blocks are tiny, probably in 1 month the number of coins in 1 block will be more than has been mined so far.

DEVS just get on with promoting this coin and doing something with it. Relaunch not needed.  Just put your effort into doing other things for the coin.

+1
If you still think that your coin need relaunch why are we mining right now? We are losing our electricity and power for nothing.  

I personally DON'T, but if the majority of the community will not be part of SynCoin without a re-launch, that's the voted choice to do.

My vote disappeared. It was No(other).
I'm just stop my miner on your coin and I'm waiting decision. If I continue I may lose about 16 hours.

Try voting again?

[syncoin]

我觉得开发商是一个骗子Yes, I think the developer is a scammer, and this would prove otherwise    11 (16.7%)

Yep, that's one reason that a lot of people are voting "yes". And it's not bad, because my rapsheet would be cleared.
But at the cost of everyone's coins mined already.

I have 750 coins at the moment... in case of chain reset, I do expect from those who voted YES, to replenish my SIN wallet  

Haha hopefully they're prepared for that, lest they face your fury

[cryptohunter]

I believe this could be a long term coin - relaunch isn't necessary and wouldn't practically benefit anyone economically. It could make things clearer and fairer but I think it's enough it works now.

So, is  http://syncoin.hashrapid.com/ only working not-offical pool now? I see 4 miners there at the moment.

There is also cheaper http://syn.hashstrike.com/  with 0% fee but it's completely empty.  We need more miners to pools, do we?

I have been mining all the time in official pool @ 0.8 Mhash/s and I have about 20 SYN now.

Congratulations! You have 20 coins out of 250,000,000,000.
You are really a big stakeholder. Keeping mining.

that's EXACTLY why there is no need for a relaunch nobody has more than probably couple of hundred coins....there are 250BILLION   the blocks are tiny, probably in 1 month the number of coins in 1 block will be more than has been mined so far.

DEVS just get on with promoting this coin and doing something with it. Relaunch not needed.  Just put your effort into doing other things for the coin.

+1
If you still think that your coin need relaunch why are we mining right now? We are losing our electricity and power for nothing.  

I personally DON'T, but if the majority of the community will not be part of SynCoin without a re-launch, that's the voted choice to do.

are you even looking at the same poll as myself?? i see the Majority say NO.

Besides for a change to take place you need more than one vote more, i mean it will be pretty close ................and after all the only people shouting yes are clueless and have no grasp of how small 9 coins per block is from 250 BILLION minting.... like someone said the average miner here probably missed out on average 5 coins so far.

Ignore the relaunch fools, even after relaunch when they see they get practically no coins at the start and their wallets don't over flow with millions of coins, the will leave anyway.

I mean the poll is flawed anyway.... i see no restriction to those voting that were on the launch? of course anyone else turning up who were sleeping on launch will vote for relaunch anyway since they will think they missed out..... the Poll is totally flawed. If you restricted it to people that could prove they were there at launch that is different.

Let's put a poll up for who wants doge relaunched...... i mean of course we all would and we would be jumping on that from the start. You can't create a poll like this you are NOT representing the people that waited up for your launch at all.

This coin will probably Never get popular because it is not a money making scheme it is the basis of a stable currency.  Reminds me of Elacoin in some ways, it was way ahead of its time and did not get popular.

If this does not get popular, then just go ahead and make an instamining scam coin like top coin, leaf coin, .....any coin with huge block rewards that get cut in half in a couple of days.............that will go down a treat on here with most people.

[Tuck Fheman]

w00t, coins coming in!

[syncoin]

QUESTION: If I were to ensure more pools would be for SynCoin by the end of today [EST], would those who voted Yes because pools change over to No?