[ANN] AIRcoin

[Shadow_Runner]

{
"blocks" : 7995,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 2.29072303,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 92612156,
"pooledtx" : 0,
"testnet" : false
}

[flinchy]

uhhh pitythepool's waaaay over 51%!

ctrlaltdefeated hasn't gone over 25-30MH o_o

huge hash rate increase, was almost 100MH! :O

if it gets over about 200MH it's just about no longer worth me mining at the predicted value :/

[AIRcoin]

uhhh pitythepool's waaaay over 51%!

ctrlaltdefeated hasn't gone over 25-30MH o_o

huge hash rate increase, was almost 100MH! :O

if it gets over about 200MH it's just about no longer worth me mining at the predicted value :/

The opportunity price is a recommended selling price based on how hard it is to mine. In other words, if it reaches 200MH/S, difficulty is expected to rise to 6.4. This means that any AIRcoin you have at that point, to new adopters, is worth at least 0.0023 BTC. It assumes that, when the difficulty rises, people will want to buy the coins rather than mine them, and miners will want to mine other coins, so as the hashrate increases, the recommended selling price goes up. In other words, when a miner says "Why buy a coin when I can mine it?" they change their mind at this price to "Well, I can buy cheaper than [opportunity price] and mine something else more profitable."

Since both buy orders and hashrates are good measurements of demand, it's a pretty strong assumption. This is one of the core theories Alexander brought to the community that has held strength in determining our block reward and premine amounts.

Next difficulty increase is projected at close to 3.2, putting the next period opportunity price at

In other words:

Difficulty - Opportunity Price
.99 - 0.00033 BTC, $0.165 USD
2.3 - 0.00075 BTC, $0.375 USD
3.2 - 0.00115 BTC, $0.575 USD
6.4 - 0.00230 BTC, $1.150 USD

It's the "strike price" to a miner who didn't care what coin he was mining, but only cares about mining the most profitable coin. Any price above that, AIRcoin would be the best mining investment compared to most commonly listed and traded altcoins. Any price below that, an there may be other coins that are better. Since you guys do care about what coin you are mining and expect this coin to do very well, you may be willing to hold the coins until the price rises further, but this would be the minimum price to sell at to make it "worth your time" so to say, at each difficulty level assuming you get a fair share of coins. It also means that any coins mined at a lower difficulty level, since they will be sold to individuals at higher difficulty levels, will see that proportional increase.

In the case of most coins, inflation lowers the price faster than miners can go buy coins instead of mining them, and that results in an unsustainable position (pick any "animal coin" with 100,000+ rewards in the last month and watch its chart, you'll see what I mean). But even low-reward coins aren't exempt from that. When difficulty increases and exchange rate decreases, that's when a coin starts to fail. Our goal is to keep them both in balance to produce no effective inflation.

As for now, until we can find more pools, hashrates are going to be uneven. Our team is considering bounties for additional pools, but if the community would like to step up and create some more (we have already one member attempting to do so) or attract new pools and miners we would highly encourage it. Our team is reaching out to pool managers and miners who are willing to throw more hashing power our way.

Additionally, a block explorer IS under development and is almost complete and will be launched in the next few days.

[Joerii]

Are there any EU pools ? Or even better  ; a p2p pool based in EU ?

[AIRcoin]

Are there any EU pools ? Or even better  ; a p2p pool based in EU ?

As far as we know, not yet. However, we're attempting to get more pools to sign on for this currency, and any help you can offer (any known EU pool managers you can either contact or forward us to) would be appreciated.

[sakkosekk]

uhhh pitythepool's waaaay over 51%!

ctrlaltdefeated hasn't gone over 25-30MH o_o

huge hash rate increase, was almost 100MH! :O

if it gets over about 200MH it's just about no longer worth me mining at the predicted value :/

The opportunity price is a recommended selling price based on how hard it is to mine. In other words, if it reaches 200MH/S, difficulty is expected to rise to 6.4. This means that any AIRcoin you have at that point, to new adopters, is worth at least 0.0023 BTC. It assumes that, when the difficulty rises, people will want to buy the coins rather than mine them, and miners will want to mine other coins, so as the hashrate increases, the recommended selling price goes up. In other words, when a miner says "Why buy a coin when I can mine it?" they change their mind at this price to "Well, I can buy cheaper than [opportunity price] and mine something else more profitable."

Since both buy orders and hashrates are good measurements of demand, it's a pretty strong assumption. This is one of the core theories Alexander brought to the community that has held strength in determining our block reward and premine amounts.

Next difficulty increase is projected at close to 3.2, putting the next period opportunity price at

In other words:

Difficulty - Opportunity Price
.99 - 0.00033 BTC, $0.165 USD
2.3 - 0.00075 BTC, $0.375 USD
3.2 - 0.00115 BTC, $0.575 USD
6.4 - 0.00230 BTC, $1.150 USD

It's the "strike price" to a miner who didn't care what coin he was mining, but only cares about mining the most profitable coin. Any price above that, AIRcoin would be the best mining investment compared to most commonly listed and traded altcoins. Any price below that, an there may be other coins that are better. Since you guys do care about what coin you are mining and expect this coin to do very well, you may be willing to hold the coins until the price rises further, but this would be the minimum price to sell at to make it "worth your time" so to say, at each difficulty level assuming you get a fair share of coins. It also means that any coins mined at a lower difficulty level, since they will be sold to individuals at higher difficulty levels, will see that proportional increase.

In the case of most coins, inflation lowers the price faster than miners can go buy coins instead of mining them, and that results in an unsustainable position (pick any "animal coin" with 100,000+ rewards in the last month and watch its chart, you'll see what I mean). But even low-reward coins aren't exempt from that. When difficulty increases and exchange rate decreases, that's when a coin starts to fail. Our goal is to keep them both in balance to produce no effective inflation.

As for now, until we can find more pools, hashrates are going to be uneven. Our team is considering bounties for additional pools, but if the community would like to step up and create some more (we have already one member attempting to do so) or attract new pools and miners we would highly encourage it. Our team is reaching out to pool managers and miners who are willing to throw more hashing power our way.

Additionally, a block explorer IS under development and is almost complete and will be launched in the next few days.

It will be exiting to see if the price develops like that.

[splawik21]

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.

luke if you say so? I`m with you men DIGGING Air for my 36 hours now with some breaks

[Joerii]

I just added 7 Mh/s to the network

[splawik21]

I just added 7 Mh/s to the network

we are growing growing

[Sprite160]

I am finally getting around to setting up a pool. Been a little busy with customer's IT issues. I will let you know how it goes after some testing. I have mined 170 blocks so far. Just over 2%. Still at it. It will be interesting to see where it goes after I have the pool set up.

[ISAWHIM]

Nice, Now I have a solid 22 connections... Great work getting that node issue resolved.

Can't wait for that block-explorer and an exchange to open.
(To buy, not dump. I still want a nice starting balance. Also curious to see how reward will be altered.)

Still only dedicating 3MHs to the coin, for the moment. Hash-rate is still decent for solo-mining, even at 150K (2.288818359375 diff). I think I can go up to about 655K (9.994506835 diff) before things get ugly for solo-mining. (Luck-wise, with only 3MHs)

Getting roughly 1 block per hour (89.28 coins per day) now...
What I need to break-even on electricity is about...
$5.00 for 89 AIR
$0.05618/AIR
@ $600/BTC = 0.00009363BTC/AIR

P.S. I am getting random rewards of 3.721 (Now have 4 out of about 415 blocks)

Status: 207 confirmations, broadcast through 25 nodes
Date: 2/26/2014 13:54
Source: Generated
Credit: 3.721 AIR
Net amount: +3.721 AIR
Transaction ID: bd5c82b2815e0b34bdc3240331964d3c69f0b3ecc0fa7ed1cf3c91a7f3f2e3ee

Just within the last day or two mining, not before then.

P.P.S. The faster you get it into the exchange, the less pumpy it will be... Once we all have TONS to sell, there will come a feeling of dumping. Starting it fast and early, low, with high volume to slowly let it increase, is the best way to get it on a good footing.

[DaveahamLincoln]

Anyone else unable to connect to air.pitythepool.com?

[ISAWHIM]

Anyone else unable to connect to air.pitythepool.com?

I connected right away.. 30 miners running, 30MHs avg...

[AIRCOINDEV O]

Nice, Now I have a solid 22 connections... Great work getting that node issue resolved.

Can't wait for that block-explorer and an exchange to open.
(To buy, not dump. I still want a nice starting balance. Also curious to see how reward will be altered.)

Still only dedicating 3MHs to the coin, for the moment. Hash-rate is still decent for solo-mining, even at 150K (2.288818359375 diff). I think I can go up to about 655K (9.994506835 diff) before things get ugly for solo-mining. (Luck-wise, with only 3MHs)

P.S. I am getting random rewards of 3.721 (Now have 4 out of about 415 blocks)

Status: 207 confirmations, broadcast through 25 nodes
Date: 2/26/2014 13:54
Source: Generated
Credit: 3.721 AIR
Net amount: +3.721 AIR
Transaction ID: bd5c82b2815e0b34bdc3240331964d3c69f0b3ecc0fa7ed1cf3c91a7f3f2e3ee

Just within the last day or two mining, not before then.

P.P.S. The faster you get it into the exchange, the less pumpy it will be... Once we all have TONS to sell, there will come a feeling of dumping. Starting it fast and early, low, with high volume to slowly let it increase, is the best way to get it on a good footing.

I believe the pool you are connecting to is offering bonus blocks for signing up and putting in enough valid blocks.  I'll have to check earlier pages to be sure.

[DaveahamLincoln]

Anyone else unable to connect to air.pitythepool.com?

I connected right away.. 30 miners running, 30MHs avg...

Odd...seems like my university blocks air.foo urls when I'm on the vpn... the fools.  Thanks for the info!  All is well now!

[ISAWHIM]

I believe the pool you are connecting to is offering bonus blocks for signing up and putting in enough valid blocks.  I'll have to check earlier pages to be sure.

I am solo-mining directly into my wallet...

Might just be a floating-point error... for reward/generation. (It was accepted by the network, so it must be valid. Gonna change my reward to 2923749237948798327.1 AIR, see if the network accepts that!)

Thought you guys might be "testing" the "adjustment" for reward or something.

Wouldn't be a tx-fee... well.. it might, if someone is adding a tx-fee, or there is a minimum tx-fee setup in the pool daemon code. Can't tell without a block-explorer...

(gettransaction didn't show anything other than the generated amount being 3.72100000) No tx-fee in there, no other tx's in that transaction-ID.

[CtrlAltDefeated]

https://i.imgur.com/Z1H9oQS.png
Mine some fresh AIR with us!
Payout: Prop
Vardiff
Stratum

No Fees extended for another 24 hours

air.ctrlaltdefeated.us

[flinchy]

uhhh pitythepool's waaaay over 51%!

ctrlaltdefeated hasn't gone over 25-30MH o_o

huge hash rate increase, was almost 100MH! :O

if it gets over about 200MH it's just about no longer worth me mining at the predicted value :/

The opportunity price is a recommended selling price based on how hard it is to mine. In other words, if it reaches 200MH/S, difficulty is expected to rise to 6.4. This means that any AIRcoin you have at that point, to new adopters, is worth at least 0.0023 BTC. It assumes that, when the difficulty rises, people will want to buy the coins rather than mine them, and miners will want to mine other coins, so as the hashrate increases, the recommended selling price goes up. In other words, when a miner says "Why buy a coin when I can mine it?" they change their mind at this price to "Well, I can buy cheaper than [opportunity price] and mine something else more profitable."

Since both buy orders and hashrates are good measurements of demand, it's a pretty strong assumption. This is one of the core theories Alexander brought to the community that has held strength in determining our block reward and premine amounts.

Next difficulty increase is projected at close to 3.2, putting the next period opportunity price at

In other words:

Difficulty - Opportunity Price
.99 - 0.00033 BTC, $0.165 USD
2.3 - 0.00075 BTC, $0.375 USD
3.2 - 0.00115 BTC, $0.575 USD
6.4 - 0.00230 BTC, $1.150 USD

It's the "strike price" to a miner who didn't care what coin he was mining, but only cares about mining the most profitable coin. Any price above that, AIRcoin would be the best mining investment compared to most commonly listed and traded altcoins. Any price below that, an there may be other coins that are better. Since you guys do care about what coin you are mining and expect this coin to do very well, you may be willing to hold the coins until the price rises further, but this would be the minimum price to sell at to make it "worth your time" so to say, at each difficulty level assuming you get a fair share of coins. It also means that any coins mined at a lower difficulty level, since they will be sold to individuals at higher difficulty levels, will see that proportional increase.

In the case of most coins, inflation lowers the price faster than miners can go buy coins instead of mining them, and that results in an unsustainable position (pick any "animal coin" with 100,000+ rewards in the last month and watch its chart, you'll see what I mean). But even low-reward coins aren't exempt from that. When difficulty increases and exchange rate decreases, that's when a coin starts to fail. Our goal is to keep them both in balance to produce no effective inflation.

As for now, until we can find more pools, hashrates are going to be uneven. Our team is considering bounties for additional pools, but if the community would like to step up and create some more (we have already one member attempting to do so) or attract new pools and miners we would highly encourage it. Our team is reaching out to pool managers and miners who are willing to throw more hashing power our way.

Additionally, a block explorer IS under development and is almost complete and will be launched in the next few days.

interesting

i mean.. difficulty looks like it won't be 3.2 any more, hash rate down to 70's?

but if it DID get to $1+ per coin, that would be so awesome

i guess when the coins are rarer too, that's what happens.. they're worth more

the problem is.. network hash rate is decent, but the number of people providing most of it is LOW.. i know a few people between 5 and 10mh/s, pluus me at nearly 10... and you have a way-too-high percentage of the overall rate in the hands of very few people.

[AIRcoin]

We have a new wallet with Kimoto Gravity Well and a few new tweaks already finished. (Fast development!) This is an update to let you guys know ahead of time before we release the wallet on our website, which will occur tomorrow.

Users will have to download the new wallet once released.

This means that there is a very short period (hours) left at the 24-hour block adjustment before the new wallet is distributed. Once distributed, KGW kicks in on a certain block number, so this is the last chance to mine at these comparably favorable numbers.

We will post back here as soon as the website has our new wallet for download.

but if it DID get to $1+ per coin, that would be so awesome

i guess when the coins are rarer too, that's what happens.. they're worth more

You can see two extreme examples of this phenomena, and it still holds: 42 Coin and Dogecoin.

However, neither of those coins have methods in place to offer liquidity services, maintain a steady exchange rate or (even more unusual) cultivate a rising exchange rate. Even coins with self-destructive capabilities (which operate on the principles that give 42 Coin a high rate and Dogecoin a low rate) have short-term price falling in-between periods of destruction.

[CtrlAltDefeated]

to the few guys donating at http://air.ctrlaltdefeated.us Thanks. You have been given a 0% fee for life... 0% will remain for everyone else for the next 24 hours.

We have a new wallet with Kimoto Gravity Well and a few new tweaks already finished. (Fast development!) This is an update to let you guys know ahead of time before we release the wallet on our website, which will occur tomorrow.

Users will have to download the new wallet once released.

This means that there is a very short period (hours) left at the 24-hour block adjustment before the new wallet is distributed. Once distributed, KGW kicks in on a certain block number, so this is the last chance to mine at these comparably favorable numbers.

We will post back here as soon as the website has our new wallet for download.

Awesome. It's a shame this forum is awash with coin releases. You guys are easily one of the better dev teams I've seen around.