[ANN] AIRcoin

[now2ai8]

2.5 mill premined.  So at 3.72 per block, doesn't that take 672043.011 blocks to reach 2.5 million?  Add to the fact that it takes 120 sec per block,  looks like it'll take 2.55 years of mining to reach that 2.5 mill premined.  No thanks.

[UrsaMajorisBeta]

2.5 mill premined.  So at 3.72 per block, doesn't that take 672043.011 blocks to reach 2.5 million?  Add to the fact that it takes 120 sec per block,  looks like it'll take 2.55 years of mining to reach that 2.5 mill premined.  No thanks.

I understand it's not going to fully stay in their pockets.

[AIRcoin]

2.5 mill premined.  So at 3.72 per block, doesn't that take 672043.011 blocks to reach 2.5 million?  Add to the fact that it takes 120 sec per block,  looks like it'll take 2.55 years of mining to reach that 2.5 mill premined.  No thanks.

Look closer at the block reward statistics, the early version of the wallet has a flat reward, later versions have a dynamic reward based on exchange rate data. The premine is used as an investment pool to be able to buy back and raise the price of the currency. 2,500,000 premine allows us enough volume that, in these markets, we can make reasonable, reliable 5% gains every week. We pay ourselves on gains we make over our quotas, and lose on losses. Those gains are put back into the market to buy back AIR and raise the equilibrium "regulated" price that the premine is used to maintain.

The way we manage the currency's critical numbers explains why the starting values were chosen for what they are. It's similar to an investing pool, though a bit abstract since it is cryptocurrency after all.

[CtrlAltDefeated]

so altctrldefeated is offline.. the biggest one is closed

? http://air.ctrlaltdefeated.us is working fine!

i'm having another trouble though - the confirmation email hasn't sent, and i can't attach a wallet to payout without that email?

Same here, no conf email to change account details.

ecminer on your pool.

:-)

You guys are making sure to enter in your pin before clicking unlock? Tested myself just now and got the email almost instantly.

ohhh can you please add that instruction somewhere?

i didn't know you had to put in your pin then click unlock to get the email to actually be able to edit it LOL... no other pool i've been on has done that!

Newish security feature for MPOS so you will probably start running into it more often.

I've added a message on the pool to let everyone (hopefully) know they need to enter their pin first. If it becomes to much of a problem I'll disable the email confirmations altogether but you should only need to do it once and it makes it that much harder for someone to steal your coins

Ahh I've got it now.

Enter PIN to unlock and then you get the email.

First time I've seen this.

Got the email and can now update the account info.

Thanks.

ED: Still can't update account info. Get Token has expired.

Enter pin and get email, click link which is accepted and says you can now update account details.

Add new info and get Token has expired.

Going round in circles.

Not sure what would be happening there. At any rate I've disabled email confirmations so you should be able to edit your account details now.

[b1nary]

What the fuck have you put into that wallet?

Its huge (github). Please read up on .gitignore files

[coinme.info]

2.5 mill premined.  So at 3.72 per block, doesn't that take 672043.011 blocks to reach 2.5 million?  Add to the fact that it takes 120 sec per block,  looks like it'll take 2.55 years of mining to reach that 2.5 mill premined.  No thanks.

Look closer at the block reward statistics, the early version of the wallet has a flat reward, later versions have a dynamic reward based on exchange rate data. The premine is used as an investment pool to be able to buy back and raise the price of the currency. 2,500,000 premine allows us enough volume that, in these markets, we can make reasonable, reliable 5% gains every week. We pay ourselves on gains we make over our quotas, and lose on losses. Those gains are put back into the market to buy back AIR and raise the equilibrium "regulated" price that the premine is used to maintain.

The way we manage the currency's critical numbers explains why the starting values were chosen for what they are. It's similar to an investing pool, though a bit abstract since it is cryptocurrency after all.

This sounds reasonable and makes sense to me.

I'm happy with the premine amount and will continue to support AIR.

[now2ai8]

2.5 mill premined.  So at 3.72 per block, doesn't that take 672043.011 blocks to reach 2.5 million?  Add to the fact that it takes 120 sec per block,  looks like it'll take 2.55 years of mining to reach that 2.5 mill premined.  No thanks.

Look closer at the block reward statistics, the early version of the wallet has a flat reward, later versions have a dynamic reward based on exchange rate data. The premine is used as an investment pool to be able to buy back and raise the price of the currency. 2,500,000 premine allows us enough volume that, in these markets, we can make reasonable, reliable 5% gains every week. We pay ourselves on gains we make over our quotas, and lose on losses. Those gains are put back into the market to buy back AIR and raise the equilibrium "regulated" price that the premine is used to maintain.

The way we manage the currency's critical numbers explains why the starting values were chosen for what they are. It's similar to an investing pool, though a bit abstract since it is cryptocurrency after all.

Well, that dynamic reward block better be alot higher than 3.72.  A lot higher if you want the coin to be FAIRLY distributed.  At the current rate, you will control 50 % of the marketcap for the next 2 years.  We, the people mining and investing in this coin, will be at the mercy of you guys.

 As much as you can manipulate the market to increase, you can easily crash the market and bail with the money.  Please explain that clearly to your investor.  It is not so easy because we've seen it end badly way too many times.  It hardly ends well.   I'm all for devs to get their cut of share BC of their work.  I don't think controling 50% of the shares for anything longer than a month is healthy for the market.   To me, this is my biggest concern. 

[coinme.info]

Ahh I've got it now.

Enter PIN to unlock and then you get the email.

First time I've seen this.

Got the email and can now update the account info.

Thanks.

ED: Still can't update account info. Get Token has expired.

Enter pin and get email, click link which is accepted and says you can now update account details.

Add new info and get Token has expired.

Going round in circles.

Not sure what would be happening there. At any rate I've disabled email confirmations so you should be able to edit your account details now.

Thanks!

I've now updated the wallet address and auto payout, plus added a donation for your prompt service!

[AIRcoin]

2.5 mill premined.  So at 3.72 per block, doesn't that take 672043.011 blocks to reach 2.5 million?  Add to the fact that it takes 120 sec per block,  looks like it'll take 2.55 years of mining to reach that 2.5 mill premined.  No thanks.

Look closer at the block reward statistics, the early version of the wallet has a flat reward, later versions have a dynamic reward based on exchange rate data. The premine is used as an investment pool to be able to buy back and raise the price of the currency. 2,500,000 premine allows us enough volume that, in these markets, we can make reasonable, reliable 5% gains every week. We pay ourselves on gains we make over our quotas, and lose on losses. Those gains are put back into the market to buy back AIR and raise the equilibrium "regulated" price that the premine is used to maintain.

The way we manage the currency's critical numbers explains why the starting values were chosen for what they are. It's similar to an investing pool, though a bit abstract since it is cryptocurrency after all.

Well, that dynamic reward block better be alot higher than 3.72.  A lot higher if you want the coin to be FAIRLY distributed.  At the current rate, you will control 50 % of the marketcap for the next 2 years.  We, the people mining and investing in this coin, will be at the mercy of you guys.

 As much as you can manipulate the market to increase, you can easily crash the market and bail with the money.  Please explain that clearly to your investor.  It is not so easy because we've seen it end badly way too many times.  It hardly ends well.   I'm all for devs to get their cut of share BC of their work.  I don't think controling 50% of the shares for anything longer than a month is healthy for the market.   To me, this is my biggest concern.  

http://www.teamaircoin.org/whitepaper.pdf

That is the whitepaper associated with this coin, linked to in the first post. It explains the purpose and intentions of the coin quite clearly, if anything will convince you of the thought put behind this coin, it should.

Altcoins have had over a year to develop trustworthy, respectable services that can be used to develop the technology and adopted in the financial world. If a large reserve controlled by ambitious, intelligent, careful developers is what it takes to build faith in this technology, then we are willing to attempt it. The amount of money to be gained by dumping this coin is nothing compared to the amount of money in building a new, competitive financial instrument that can see serious adoption, something that 5 years of Bitcoin "development" hasn't achieved. Or, as quoted in the white Paper, Thomas Paine once said:

The reflection is awful, and in this point of view, how trifling, how ridiculous, do the little paltry cavilings of a few weak or interested men appear, when weighed against the business of a world.

If you are not satisfied, then just wait. We aren't demanding people get behind this currency and rally for it blindly, we are asking that they respect it and look to it as an example to improve the technology. Blindly supporting a coin without reason is the exact type of unsustainable mania that put the Cryptocoin community into this bubbling spiral that its currently in.

- Alexander

[flinchy]

2.5 mill premined.  So at 3.72 per block, doesn't that take 672043.011 blocks to reach 2.5 million?  Add to the fact that it takes 120 sec per block,  looks like it'll take 2.55 years of mining to reach that 2.5 mill premined.  No thanks.

Look closer at the block reward statistics, the early version of the wallet has a flat reward, later versions have a dynamic reward based on exchange rate data. The premine is used as an investment pool to be able to buy back and raise the price of the currency. 2,500,000 premine allows us enough volume that, in these markets, we can make reasonable, reliable 5% gains every week. We pay ourselves on gains we make over our quotas, and lose on losses. Those gains are put back into the market to buy back AIR and raise the equilibrium "regulated" price that the premine is used to maintain.

The way we manage the currency's critical numbers explains why the starting values were chosen for what they are. It's similar to an investing pool, though a bit abstract since it is cryptocurrency after all.

Well, that dynamic reward block better be alot higher than 3.72.  A lot higher if you want the coin to be FAIRLY distributed.  At the current rate, you will control 50 % of the marketcap for the next 2 years.  We, the people mining and investing in this coin, will be at the mercy of you guys.

 As much as you can manipulate the market to increase, you can easily crash the market and bail with the money.  Please explain that clearly to your investor.  It is not so easy because we've seen it end badly way too many times.  It hardly ends well.   I'm all for devs to get their cut of share BC of their work.  I don't think controling 50% of the shares for anything longer than a month is healthy for the market.   To me, this is my biggest concern.  

http://www.teamaircoin.org/whitepaper.pdf

That is the whitepaper associated with this coin, linked to in the first post. It explains the purpose and intentions of the coin quite clearly, if anything will convince you of the thought put behind this coin, it should.

Altcoins have had over a year to develop trustworthy, respectable services that can be used to develop the technology and adopted in the financial world. If a large reserve controlled by ambitious, intelligent, careful developers is what it takes to build faith in this technology, then we are willing to attempt it. The amount of money to be gained by dumping this coin is nothing compared to the amount of money in building a new, competitive financial instrument that can see serious adoption, something that 5 years of Bitcoin "development" hasn't achieved. Or, as quoted in the white Paper, Thomas Paine once said:

The reflection is awful, and in this point of view, how trifling, how ridiculous, do the little paltry cavilings of a few weak or interested men appear, when weighed against the business of a world.

If you are not satisfied, then just wait. We aren't demanding people get behind this currency and rally for it blindly, we are asking that they respect it and look to it as an example to improve the technology. Blindly supporting a coin without reason is the exact type of unsustainable mania that put the Cryptocoin community into this bubbling spiral that its currently in.

- Alexander

this sorta thing is what makes me like you (the developers of this coin) and the coin itself.. Why pump and dump for a quick few hundred k at most, when you can build an empire for a relatively quick few hundred million

i don't like the idea of a premine, let alone such a HUGE premine... and the basic idea of the market manipulation you plan DOES sound shady... but that's only if you do it the stupid/lazy way .. and why go to all this trouble for the stupid, lazy way?

ED: would just like to note, one of my miners is 0% reject and the other is close enough to it... coming from 5-10% in multipools is a shock haha

[Isotactic]

Wow. This coin exploded overnight. Went to bed and network hashrate was at 46 mh/s. Woke up and network hashrate is at 86 mh/s. Quite a jump for 7 hours. I am still going to reiterate my previous statement about difficulty adjustments; something needs to be done about the 24 hour time frame on the difficulty retarget. KGW is a good solution, or even a more old-fashioned 6 hours retarget would be just fine. If we keep growing hashpower at an exponential rate like this, it is going to be more difficult to make updates and improvements in the future.

edit: network hashrate over 100 mh/s!

[Shadow_Runner]

{
"blocks" : 7815,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 0.96202402,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 94121292,
"pooledtx" : 0,
"testnet" : false
}

[CtrlAltDefeated]

{
"blocks" : 7815,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 0.96202402,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 94121292,
"pooledtx" : 0,
"testnet" : false
}

Only another 88 blocks and diff doubles.

[PoolNetwork]

POOLNETWORK IS LIVE MINING AIRCOIN!

Our AirCoin pool will be running at 1% pool fee to maintain our highly powered server costs!

Fast & Reliable!
1% Pool Fee
0.1 AIR Bonus block finder reward!!!
Proportional Payout [VARDIFF]
Payouts every 5 MINUTES (if you enable auto-payment) *RECOMMENDED*
Mine with confidence..

./cgminer --scrypt  -o stratum+tcp://start.poolnetwork.org:4141 -u Weblogin.Worker -p Worker password

SIGN UP AND START MINING NOW!

[AIRCOINDEV O]

A Mac wallet is on the way (perhaps today or tomorrow), with 2 more addnodes (today) as well as the Kimoto Gravity Well (TBD: this will require a user wide wallet update, but will give us a chance to add checkpoints and seed nodes into the wallet).

In other news:

http://www.reddit.com/r/Bitcoin/comments/1z010y/open_letter_to_michael_casey_wsj_reporter_who/

This is why the AIA is on this mission.  This technology and its potential to positively impact the world is far too valuable to be left unrepresented by a unified, highly organized community.

[luckygenough56]

this shit is impossible to mine 

[Willisius]

What the fuck have you put into that wallet?

Its huge (github). Please read up on .gitignore files

Yeah when I tried to git clone it, it took way too long. Downloading as a zip was acceptably fast though.

[Mortimer452]

I am still going to reiterate my previous statement about difficulty adjustments; something needs to be done about the 24 hour time frame on the difficulty retarget. KGW is a good solution, or even a more old-fashioned 6 hours retarget would be just fine. If we keep growing hashpower at an exponential rate like this, it is going to be more difficult to make updates and improvements in the future.

I agree on the current 24hr diff retarget.  Every scrypt coin I've been involved with, if it becomes even moderately successful, ends up going to KGW or a 1-block retarget eventually anyway.  There is over 30GH of mining power between Middlecoin, Hashcows and Multipool.us.  They can easily send a coin's diff to Mars within a few hours and it with a retarget of 24h it may take weeks to adjust back down.

[CtrlAltDefeated]

heh there goes the diff retarget.

 2.29072303

[luke997]

Wow, nice hashrate increase since yesterday... this can be a bomb, glad I joined early rather than wasting time on another clone raped my whales/multi, pumped and dumped...

This is going to be interesting ride.