[GPUC] GPU Coin | Mandatory Wallet Update

[GPU Coin]

Just allocated an additional 75,000,000 from the development fund to the IPO.

[Joxer_LOA]

FWIW, theres already a version of BAMT out that supports BOTH Scrypt and Scrypt-N. I use it 24x7 with 99% uptime. All you do is change a config to switch between miners.

http://www.reddit.com/r/BAMT/comments/1ylhhy/release_vertcoin_bamt/

[micryon]

I'm an IPO myself, and know the coin would work fine with Scrypt. Like many other coins. Litecoin sound familiar?

Should work fine with just scrypt.  This is a coin based on a business model difference, not a technological superiority.. in that sense the algo can be anything and still achieve the same effect.  Look at auroracoin..

[vesperwillow]

I'm an IPO myself, and know the coin would work fine with Scrypt. Like many other coins. Litecoin sound familiar?

Should work fine with just scrypt.  This is a coin based on a business model difference, not a technological superiority.. in that sense the algo can be anything and still achieve the same effect.  Look at auroracoin..

^-- this guy gets it. I said the same thing to GPU Coin.

[waltsmith]

The point of releasing the source code to pools is so they're ready to roll. Holding the passwords would prevent that. The other points about forking are also valid, but remember guys, you chose ScryptN. Very few farms out there with it right?

Exactly my point. Pools shouldn't BE "Ready to Roll" If someone wants early coins then solo for a few. Not like its hard. Could prob teach a monkey to solo if you had a fairly smart monkey and some patience. Also soloing helps to spread nodes so that the pool wallets dont fork the chain. Not like I expect to get any coins while soloing a hyped coin like this but if it is not done then watch this baby fork till the cows come home and then write the coin off.

waltsmith

[lottohasher]

I'm an IPO myself, and know the coin would work fine with Scrypt. Like many other coins. Litecoin sound familiar?

I guess we won't know for another 2.5 years (amount of time litecoin has been out).

[vesperwillow]

I'm an IPO myself, and know the coin would work fine with Scrypt. Like many other coins. Litecoin sound familiar?

I guess we won't know for another 2.5 years (amount of time litecoin has been out).

In 8 months ScryptN ASIC will be out. So I'd say less than 2.5 years.

The point of releasing the source code to pools is so they're ready to roll. Holding the passwords would prevent that. The other points about forking are also valid, but remember guys, you chose ScryptN. Very few farms out there with it right?

Exactly my point. Pools shouldn't BE "Ready to Roll" If someone wants early coins then solo for a few. Not like its hard. Could prob teach a monkey to solo if you had a fairly smart monkey and some patience. Also soloing helps to spread nodes so that the pool wallets dont fork the chain. Not like I expect to get any coins while soloing a hyped coin like this but if it is not done then watch this baby fork till the cows come home and then write the coin off.

waltsmith

The other side of the coin is a lot of coins have issues with launch because the distribution point becomes DDOS'd. Valid concerns on both sides I agree, but he's wagering either way. This is why a launch with standard Scrypt and then if necessary a move to a new algo, would've been better than changing half his original gameplan less than a day before launch.

[Scynthetic]

I'm an IPO myself, and know the coin would work fine with Scrypt. Like many other coins. Litecoin sound familiar?

Because the crypto world needs another LTC clone, right? We haven't watched enough of those come and go already? It's not that hard to set up your rigs to mine scrypt-n, and NO, it doesn't damage anything.

As for your previous comment: YES this should help stop a forkfest on the launch. Scrypt-n means we won't have multipools dropping 50ghs on it as soon as it's compiled. Would you rather have an instamined clusterfuck?

[scott0577]

Just allocated an additional 75,000,000 from the development fund to the IPO.

Thank you...

[24Kilo]

I think you have made the right choice to preserve the longevity of this coin. Imo people who don't want to setup scrypt-n are just the lazy type and looking for a quick pump and dump. We as a community and IPO holders want this coin to soar. I support this dev team and the work they have done up to this point looking out for the best interest of this coin.

Cheers

Wrong... very wrong!!!

I was one of the first voices to ask about an ASCI-resistant algo when this coin was announced... and I fully support the use of an ASIC resistant alog... but making this change 18 hours from launch with an untested wallet and coin network... 18 hours for me compile a custom BAMT that uses a scrypt-n cgminer variant... 18 hours to test the compiles and tweak and tune 9 rigs to be sure they are stable at launch... now the pool admins have 20 minute early access to the source code so we solo miners now behind the pools and unable to combat a fork... this is shaping up to one difficult launch.

I am not lazy or a mine and dumper... I only have some many hours in a day and I hold 90% of the coins I mine for more than 3 months... so you are wrong.

If the dev would have announced a scrypt-n algo even a few days ago, I would have no issues. But all these last minutes changes are ensuring that we are in for a bumpy ride.

It seems the dev does not know what he wants for this coin... and it is worrisome that he is making major changes on the fly.

So far a double back-track... pools get source early when he originally announced the no one would get the source early... now he caves into pressure and put another 75M coins into the IPO when only a few posts early he gave a very sound reasoning why he did not want to.

This not shaping up well.

[vesperwillow]

Because the crypto world needs another LTC clone, right? We haven't watched enough of those come and go already? It's not that hard to set up your rigs to mine scrypt-n, and NO, it doesn't damage anything.

As for your previous comment: YES this should help stop a forkfest on the launch. Scrypt-n means we won't have multipools dropping 50ghs on it as soon as it's compiled. Would you rather have an instamined clusterfuck?

It wouldn't be a clone. Litecoin had no backing, it's value came because it is better for small transactions. Most clones are just dumps. The value in GPU Coin is set at the store level by the owners despite what anyone thinks. If it settles at 1 satoshi, they price their cards accordingly. It's that simple. The business model is the backbone to this, not the coin.

Clusterfuck or not, it would've settled out. It always does. Good launches are so vital to a coins' popularity and value, which is why it's boggling they'll change things so late in the game rather than just switch over.

And yeah it's not hard to setup systems for ScryptN. Honestly, it seems more lazy to ask for something which is resistant to a technology. Whynot invest your earnings into the new technology? I can think of only 2 scrypt coins which were based on a business model which have and continue to hold value. Guess what? It didn't matter who mined it or how, or how many orphans occured. As long as transactions processed, the business front end made it valuable.

You can't expect to stand up a business and please both the miners and the other customers (folks who are simply going to buy the coin low at exchanges in order to get a good deal on the equipment from the store--folks who arent mining). If you want your business to not collapse on itself, you will please the website customer. This negates the miners' feelings.

Every other coin to come along and try to please the miners and the front end in a business model, has failed.

Business is a cold hard bitch.

[lottohasher]

I think you have made the right choice to preserve the longevity of this coin. Imo people who don't want to setup scrypt-n are just the lazy type and looking for a quick pump and dump. We as a community and IPO holders want this coin to soar. I support this dev team and the work they have done up to this point looking out for the best interest of this coin.

Cheers

Wrong... very wrong!!!

I was one of the first voices to ask about an ASCI-resistant algo when this coin was announced... and I fully support the use of an ASIC resistant alog... but making this change 18 hours from launch with an untested wallet and coin network... 18 hours for me compile a custom BAMT that uses a scrypt-n cgminer variant... 18 hours to test the compiles and tweak and tune 9 rigs to be sure they are stable at launch... now the pool admins have 20 minute early access to the source code so we solo miners now behind the pools and unable to combat a fork... this is shaping up to one difficult launch.

I am not lazy or a mine and dumper... I only have some many hours in a day and I hold 90% of the coins I mine for more than 3 months... so you are wrong.

If the dev would have announced a scrypt-n algo even a few days ago, I would have no issues. But all these last minutes changes are ensuring that we are in for a bumpy ride.

It seems the dev does not know what he wants for this coin... and it is worrisome that he is making major changes on the fly.

So far a double back-track... pools get source early when he originally announce the no one would get the source early... now he caves into pressure and put another 75M coins into the IPO when only a few posts early he gave a very sound reasoning why he did not want to.

Wrong mabey in your opinion. right in my opinion. People are entitled to have different views.

[tylerderden]

ok so my question is can we use the same miner from vert or is this going to be a custom? I'm cool with scrypt-n, keep the multi-pools and the nonsense to a minimum, just want to know which miner to use so i'm ready to rock and roll. I personally like the darkcoin miner, i get 2+mhs from my 280's. nice and cool and quiet too. but whatever at this point let's go with it so everybody's ready.

[meh82]

hurrah for script-n!

out of curiosity what other coins had this kind of business model?

[Scynthetic]

Wrong... very wrong!!!

I was one of the first voices to ask about an ASCI-resistant algo when this coin was announced... and I fully support the use of an ASIC resistant alog... but making this change 18 hours from launch with an untested wallet and coin network... 18 hours for me compile a custom BAMT that uses a scrypt-n cgminer variant... 18 hours to test the compiles and tweak and tune 9 rigs to be sure they are stable at launch... now the pool admins have 20 minute early access to the source code so we solo miners now behind the pools and unable to combat a fork... this is shaping up to one difficult launch.

I am not lazy or a mine and dumper... I only have some many hours in a day and I hold 90% of the coins I mine for more than 3 months... so you are wrong.

If the dev would have announced a scrypt-n algo even a few days ago, I would have no issues. But all these last minutes changes are ensuring that we are in for a bumpy ride.

It seems the dev does not know what he wants for this coin... and it is worrisome that he is making major changes on the fly.

So far a double back-track... pools get source early when he originally announce the no one would get the source early... now he caves into pressure and put another 75M coins into the IPO when only a few posts early he gave a very sound reasoning why he did not want to.

It doesn't take that long to set up a vert miner in bamt. 10 minutes, tops. Hell, there's even a guide on reddit for it. (I recommend using thekevs miner over bufius', though) Setup, clone, config, profit?

I agree that these changes are coming a little late in the game, but these changes are also what the voice of the majority is saying it wants, and it makes sense. I don't know if I really like the pools being running immediately, but adding coins to the IPO fund seems like he's just trying to be fair to the people investing.

[24Kilo]

OK... dev has made a decision... we are going scrypt-n... fine.

Can the dev please confirm exactly what variant we need to use to mine this coin... and I don't want an opinion from a thread contributors who are saying this should work or that should work.

The dev needs to confirm exactly what we need to use to mine this coin... if not... scrypt-n or not... it is an unfair launch with an opportunity for the miners in the know to instamine this coin... including the dev himself.

[vesperwillow]

I agree, it is evident he is doing what he sees as best, and I am still excited about the coin despite not agreeing with everything. Whether I'm right or wrong, I just want to see the coin and business model become valuable and longlasting.

24Kilo, take a look at this: http://www.reddit.com/r/BAMT/comments/1ylhhy/release_vertcoin_bamt/

I don't mind going to PM and helping you.

[yaboymarvo]

Great now i have to spend hours tweaking another mining program...

[Revelations86]

Just allocated an additional 75,000,000 from the development fund to the IPO.

Thank You!

[jimlite]

DEVS,
I would now assume that Vertminer would be the correct
miner to use for Windows? Please confirm this or immediately
post the required miner download.
Thanks