[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[MuffinMaster]

will someone please explain the this coin to me? no premine I got that... PoS i get too... I guess where I am confused is where coins come from.. as I understand that there is no cap to the amount of coins that will exist in future years according to the FAQ

as far as I know, there is no more mining.  They're just redistributed.  I have 3k+ coins.  I won't get any more unless I buy low and sell high.  Same for everybody else.  

this here's what I am referring to:

How many coins will there be?

There is no fixed amount.

up until I read that, you and I were on the same page.

Anybody else have any idea under what circumstances would new coins be created?

He means that there will be 1% proof of stake for the lifetime of the coin, which means there is no set amount of coins that can be created. So in about 75 years the total count of this coin will be double what it is now. 150 years after that it will double again etc.

However this does not take into account destroyed coins or compounding interest.  

[joulesbeef]

will someone please explain the this coin to me? no premine I got that... PoS i get too... I guess where I am confused is where coins come from.. as I understand that there is no cap to the amount of coins that will exist in future years according to the FAQ

as far as I know, there is no more mining.  They're just redistributed.  I have 3k+ coins.  I won't get any more unless I buy low and sell high.  Same for everybody else.  

this here's what I am referring to:

How many coins will there be?

There is no fixed amount.

up until I read that, you and I were on the same page.

Anybody else have any idea under what circumstances would new coins be created?

New coins are created by POS at a rate of 1% annually

they are "minted" by holding coins in your wallet.

[antonio8]

Can someone explain to me about the P2P pools.

I understand you need over 1Mh/s to make it worthwhile.

I switched from blackcoinpool to cryptoalts. I have 2.1Mh/s but was getting between 25 to 40% dead rate. Does the Mh/s have to be on each card or total combined for the miner?

I had a few disconnects for some time on each one also so I switched to another coin until I get home from work. Just can't take a chance of not mining any coin for the next 12 hours. I know about fail over bats, just couldn't take a chance with both pools working sporadically.

I have that total of 2.1Mh/s from 6 different cards. Also the cryptoalts takes a long time for me to find a share whereas blackcoinpool comes fast. I know they are mining different things and the difficulty are different on each pool.

Last thing is there an easy way to see what cryptoalts is mining?

Thanks.

[senne]

no more pools available?? should i setup p2pool??

[ryanb]

will the price go back to 0.08 or was that a misprint?

[kyma]

will someone please explain the this coin to me? no premine I got that... PoS i get too... I guess where I am confused is where coins come from.. as I understand that there is no cap to the amount of coins that will exist in future years according to the FAQ

as far as I know, there is no more mining.  They're just redistributed.  I have 3k+ coins.  I won't get any more unless I buy low and sell high.  Same for everybody else.  

this here's what I am referring to:

How many coins will there be?

There is no fixed amount.

up until I read that, you and I were on the same page.

Anybody else have any idea under what circumstances would new coins be created?

He means that there will be 1% proof of stake for the lifetime of the coin, which means there is no set amount of coins that can be created. So in about 75 years the total count of this coin will be double what it is now. 150 years after that it will double again etc.

However this does not take into account destroyed coins or compounding interest.  

Thanks... just needed to clarify that because it also suggests that the minting reward could be paid wit transaction fees

[Zackgeno96]

will the price go back to 0.08 or was that a misprint?

big misprint but that would be nice  

[JamesR1]

Lol. I just sold my handgun to buy blackcoins. Heh heh

They are sod all use against hackers anyway. Having a handgun is like an extreme form of shouting at the tv by keeping your loot on a pc. All you can do is blow a massive hole in your monitor in frustration if it happens.

[Ximp]

WTF is happening with cryptorush?  Some guy had 2 BTC worth for sell at 6000 sat and now its down for maintenance?

I think they have a DDOS thing going on.

[blade87]

Can someone explain to me about the P2P pools.

I understand you need over 1Mh/s to make it worthwhile.

I switched from blackcoinpool to cryptoalts. I have 2.1Mh/s but was getting between 25 to 40% dead rate. Does the Mh/s have to be on each card or total combined for the miner?

I had a few disconnects for some time on each one also so I switched to another coin until I get home from work. Just can't take a chance of not mining any coin for the next 12 hours. I know about fail over bats, just couldn't take a chance with both pools working sporadically.

I have that total of 2.1Mh/s from 6 different cards. Also the cryptoalts takes a long time for me to find a share whereas blackcoinpool comes fast. I know they are mining different things and the difficulty are different on each pool.

Last thing is there an easy way to see what cryptoalts is mining?

Thanks.

It's a per rig deal. And unfortunately due to hash rate now being as high as 150-180 MH/s, you probably want 1.5-2 MH/s on a single rig to make it worth while. Right now pool DOA is pretty high as well (18-20%) because of all the connections coming from various places around the world (we actually now match the DOGE P2Pool DOA rate as an whole). This "stress test" shows essentially why I will be setting up more of these P2Pool nodes in other countries. Doing so will help the following two issues.

1) Needing so much hash power to have a decent acceptance rate on the pool (the more hash the node hash, the more hash you need)
2) Distance causing DOA rate issues as well

Even one of my own rigs that is mining at 700 kH/s is starting to have issues, so yes, more nodes in the future for better rates. If you have high DOA rates and your stats output just isn't what you're expecting, I suggest just mining elsewhere for now. I wasn't expecting the surge up to 200 MH/s today, but it's good to have an idea of what is ideal for one of these P2Pool nodes, and it seems like ~5-100MH/s and nearby works best. Last night when the pool was around 30 MH/s the total DOA rate was hovering at 6-7%. In the future you'll see stuff like "uswest.cryptoalts.com, useast.cryptoalts.com, eu.cryptoalts.com, ru.cryptoalts.com, aus.cryptoalts.com" and etc. Then as a failover you can choose the one closest to you and get the best rates possible. Plus the hash rate per node won't be so high, requiring less on your end as well.

I already have some volunteer P2P node operators in other countries. I just need to figure out an issue of why the automated script payout gets a 500 error to the wallet 75% of the time about halfway through the payouts (then requiring manual processing). Then once that is solved, more nodes can start being deployed.

[ryanb]

any prediction on price within the next 6-12 months?

[PeterPalmBeach]

any prediction on price within the next 6-12 months?

1 USD
edit: if all goes well

[antonio8]

Can someone explain to me about the P2P pools.

I understand you need over 1Mh/s to make it worthwhile.

I switched from blackcoinpool to cryptoalts. I have 2.1Mh/s but was getting between 25 to 40% dead rate. Does the Mh/s have to be on each card or total combined for the miner?

I had a few disconnects for some time on each one also so I switched to another coin until I get home from work. Just can't take a chance of not mining any coin for the next 12 hours. I know about fail over bats, just couldn't take a chance with both pools working sporadically.

I have that total of 2.1Mh/s from 6 different cards. Also the cryptoalts takes a long time for me to find a share whereas blackcoinpool comes fast. I know they are mining different things and the difficulty are different on each pool.

Last thing is there an easy way to see what cryptoalts is mining?

Thanks.

It's a per rig deal. And unfortunately due to hash rate now being as high as 150-180 MH/s, you probably want 1.5-2 MH/s on a single rig to make it worth while. Right now pool DOA is pretty high as well (18-20%) because of all the connections coming from various places around the world (we actually now match the DOGE P2Pool DOA rate as an whole). This "stress test" shows essentially why I will be setting up more of these P2Pool nodes in other countries. Doing so will help the following two issues.

1) Needing so much hash power to have a decent acceptance rate on the pool (the more hash the node hash, the more hash you need)
2) Distance causing DOA rate issues as well

Even one of my own rigs that is mining at 700 kH/s is starting to have issues, so yes, more nodes in the future for better rates. If you have high DOA rates and your stats output just isn't what you're expecting, I suggest just mining elsewhere for now. I wasn't expecting the surge up to 200 MH/s today, but it's good to have an idea of what is ideal for one of these P2Pool nodes, and it seems like ~5-100MH/s and nearby works best. Last night when the pool was around 30 MH/s the total DOA rate was hovering at 6-7%. In the future you'll see stuff like "uswest.cryptoalts.com, useast.cryptoalts.com, eu.cryptoalts.com, ru.cryptoalts.com, aus.cryptoalts.com" and etc. Then as a failover you can choose the one closest to you and get the best rates possible. Plus the hash rate per node won't be so high, requiring less on your end as well.

I already have some volunteer P2P node operators in other countries. I just need to figure out an issue of why the automated script payout gets a 500 error to the wallet 75% of the time about halfway through the payouts (then requiring manual processing). Then once that is solved, more nodes can start being deployed.

Thanks for the explanation.

I have a better understanding of the workings of P2P now.

[yourstruly]

How many multipools exist? Is anyone working on one? I was thinking about starting one to mine dogecoin and convert it.

[jamieb81]

How many multipools exist? Is anyone working on one? I was thinking about starting one to mine dogecoin and convert it.

they are in beta stage and will probably up runing smooth soon.

better mine a profitable one right now and exchange for bc

[solid12345]

If anyone wants some quick cash to trade up for BC over next few days, SPA is looking real good for a mighty pump.

[blade87]

Can someone explain to me about the P2P pools.

I understand you need over 1Mh/s to make it worthwhile.

I switched from blackcoinpool to cryptoalts. I have 2.1Mh/s but was getting between 25 to 40% dead rate. Does the Mh/s have to be on each card or total combined for the miner?

I had a few disconnects for some time on each one also so I switched to another coin until I get home from work. Just can't take a chance of not mining any coin for the next 12 hours. I know about fail over bats, just couldn't take a chance with both pools working sporadically.

I have that total of 2.1Mh/s from 6 different cards. Also the cryptoalts takes a long time for me to find a share whereas blackcoinpool comes fast. I know they are mining different things and the difficulty are different on each pool.

Last thing is there an easy way to see what cryptoalts is mining?

Thanks.

It's a per rig deal. And unfortunately due to hash rate now being as high as 150-180 MH/s, you probably want 1.5-2 MH/s on a single rig to make it worth while. Right now pool DOA is pretty high as well (18-20%) because of all the connections coming from various places around the world (we actually now match the DOGE P2Pool DOA rate as an whole). This "stress test" shows essentially why I will be setting up more of these P2Pool nodes in other countries. Doing so will help the following two issues.

1) Needing so much hash power to have a decent acceptance rate on the pool (the more hash the node hash, the more hash you need)
2) Distance causing DOA rate issues as well

Even one of my own rigs that is mining at 700 kH/s is starting to have issues, so yes, more nodes in the future for better rates. If you have high DOA rates and your stats output just isn't what you're expecting, I suggest just mining elsewhere for now. I wasn't expecting the surge up to 200 MH/s today, but it's good to have an idea of what is ideal for one of these P2Pool nodes, and it seems like ~5-100MH/s and nearby works best. Last night when the pool was around 30 MH/s the total DOA rate was hovering at 6-7%. In the future you'll see stuff like "uswest.cryptoalts.com, useast.cryptoalts.com, eu.cryptoalts.com, ru.cryptoalts.com, aus.cryptoalts.com" and etc. Then as a failover you can choose the one closest to you and get the best rates possible. Plus the hash rate per node won't be so high, requiring less on your end as well.

I already have some volunteer P2P node operators in other countries. I just need to figure out an issue of why the automated script payout gets a 500 error to the wallet 75% of the time about halfway through the payouts (then requiring manual processing). Then once that is solved, more nodes can start being deployed.

Thanks for the explanation.

I have a better understanding of the workings of P2P now.

It's definitely different than traditional pool mining, but imo very important to get going. With these P2P nodes, the chances of all BC paying pools being down at some given point in the future will be slim to none. It may even offer alternatives to those who may not be getting good hash or acceptance rates to the big multipools.

[yourstruly]

How many multipools exist? Is anyone working on one? I was thinking about starting one to mine dogecoin and convert it.

they are in beta stage and will probably up runing smooth soon.

better mine a profitable one right now and exchange for bc

I'm a developer so I'm more interested in building out the BC infrastructure than actually mining. Want to make sure there are diverse options so this can really blow up.

[plumptoiletduck]

This is the third time this pattern has repeated. If you're interested in the price pattern read below.

Pump from 600 to 1400 satoshis. This led to a massive dump back and took a while to recover from. It slowly climbed back up to 1500 and then...

Pump from 1500 to 4900 satoshis. This was an epic pump. The usual daily trading volume spiked up to 1400 BTC traded in a day. It was followed by a massive dump (people taking profit).

Since that last dump which occurred the weekend before last the price has slowly climbed back up from 1600 to 2500 to 3500 to 4500. When it broke 3500 confidence started regrowing very quickly. It hovered around the high 4000's for a while. When it smashed through 5000, I posted here saying this is a very significant sign (it's a very bullish indicator recovering from a dump to break the all time high price) and I predicted a frenzied pump like the last two times (proof here -  DO NOT POST SESC LINKS ).

We've now experienced the next pump from 4900 to 9000 satoshis

What is happening now is the next dumping phase. Effectively this is people cashing out there profits. I expect this to last for several days like the last few times. There's no proof of work mined coins being dumped on the market. The only mass coins being released are from people who bought low and who want to realise their profits. Eventually this will stop, and the buying pressure will cause further rises in price.

The market cap of this coin is still peanuts. We could easily triple in price from here. Easily. When I do finally start taking profits from this coin, it's going to be one of the rare coins where I only cash out half and keep the other half in. Because with a coin like this you just don't know what the ceiling is going to be for many weeks.

I agree with this although I feel this phase may have a shallower drop in coin value than the previous phases. This coin is attracting a lot of attention and once we get in top 10 market cap it will gain almost unstoppable momentum.
That's just my opinion.

[jamieb81]

If anyone wants some quick cash to trade up for BC over next few days, SPA is looking real good for a mighty pump.

you think they will up big just because they went to adaptive N ?