[ANN][XMY] Myriad | Multi-Algo, Fair, Secure

[fullhdpixel]

I want to make a suggestion for the block reward structure:

1. Get rid of one PoW function. Preferably Scrypt, since multipools target this algo the most.
2. Insert a PoS structure (20% of coin creation) whereas you get more stake for having less coins in your wallet. For the people in Brazil this means you will get more if you have less, which means a healthy distribution pattern.

How do you propose to avoid abusers, people with alot of myr aplitting it up in multiple wallets to stake more.

As long as the wallet is different it would be fine. The interest rate should not differ that much, so if you could run 50 wallets to split up your MYR that's fine, since it won't change that much to your earnings.

Later on this idea can be evolved and maybe there are better solutions.

Just thought it would be a good idea, since it's a coin for the poor.

[1714827187]

1714827187

[foodies123]

I want to make a suggestion for the block reward structure:

1. Get rid of one PoW function. Preferably Scrypt, since multipools target this algo the most.
2. Insert a PoS structure (20% of coin creation) whereas you get more stake for having less coins in your wallet. For the people in Brazil this means you will get more if you have less, which means a healthy distribution pattern.

How do you propose to avoid abusers, people with alot of myr aplitting it up in multiple wallets to stake more.

As long as the wallet is different it would be fine. The interest rate should not differ that much, so if you could run 50 wallets to split up your MYR that's fine, since it won't change that much to your earnings.

Later on this idea can be evolved and maybe there are better solutions.

Just thought it would be a good idea, since it's a coin for the poor.

Tl;dr.

You know I was just being nice. Pos is a broken concept at the moment.

[onebutton]

We need some positive news in order to attract new miners and investors. It is unhealthy when all coins are in hands of a few people (us), it won't let prices grow, and we will be with the broken trough despite our millions of coins.
Our goal is to launch new services, may be implementing some great ideas from other coins (darksend and others), to make our coin most perfect in cryptoworld.

When such positive news will appear here?

Constantly absorbing new miners need to price and service support When the two meet
I believe that our future is bright
 

[fullhdpixel]

We keep going down and end up in limbo if there isn't anything happening really soon...

[rebeca71]

this coin is for everyone, not just for gpu miners

To allow more investors to participate in
Is each miner's hope

[rebeca71]

Groteskl is more effective than x11 of temperature for the summer!

Damn summer
I really want to go to the North Pole Will never come back

[iamphoenix]

but seriously..

prove me wrong when i say that a multipool being able to mine 5+ blocks scrypt near instanty... can fork the whole coin.

ive been trying forever to get this resolved wtf what good does the 10 block lookback do? all i have seen is it allows multi-pool abuse and unfair advantage..


FYI: we are now being multi-pooled by CEX.IO
GET THIS RESOLVED

[neuroMode]

I want to make a suggestion for the block reward structure:

1. Get rid of one PoW function. Preferably Scrypt, since multipools target this algo the most.
2. Insert a PoS structure (20% of coin creation) whereas you get more stake for having less coins in your wallet. For the people in Brazil this means you will get more if you have less, which means a healthy distribution pattern.

A) As Myriad grows in network hashrate on every algo, the effect of multipools will be dimished over time (theoretically) unless the multipools grow at some extreme rate.

B) No POS, ever. I'm not the definitive authority on the direction of this coin, but I think POS attributes will only hurt this coin.

C) The idea of more stake % for the less coins you own is certainly interested, but even if we were to implement some sort of POS function, how do we determine the numbers? Say I have 1000 MYR and I receive a LOT more stake than those with 1,000,000 MYR. What would incentivize me to mine more? The stake would have to be low enough so that I would receive more by POW because we need every miner to remain mining.

D) At the very least, I appreciate you brainstorming a future direction for Myriad. I don't agree with POS implementations at all, nor do I agree with removing an algorithm right now. But this doesn't mean we can't have open discussions about it.

Many people are worried about Scrypt multipools "destroying" Myriad. They won't destroy Myriad. Runs of 5-10 blocks will happen, but then at most Scrypt miners are left with a short period where blocks take a little longer to solve, and by the 10th block the difficult fully resembles the network of miners again.

However, I do want to run some statistical analysis to really investigate this issue and if it is being detrimental to Scrypt miners more than I think.

[neuroMode]

but seriously..

prove me wrong when i say that a multipool being able to mine 5+ blocks scrypt near instanty... can fork the whole coin.

ive been trying forever to get this resolved wtf what good does the 10 block lookback do? all i have seen is it allows multi-pool abuse and unfair advantage..


FYI: we are now being multi-pooled by CEX.IO
GET THIS RESOLVED

I've been talking about this with Mr_burdell on IRC. It seems to not be a pressing issue to him. The multipools have yet to ever fork Myriad (praise be to multi-PoW).

The only issue I see is that the brief period after we see 5 block runs by multipools--the next 10 blocks. If these next 10 blocks are taking way longer than 25 minutes to solve by the normal ecosystem of miners without multipools, then it's unfair to them. But as each block is solved, the difficulty adjustment goes down faster and faster until it stabilizes completely after 10 blocks.

[neuroMode]

Just finished consolidating the reddit sidebar (/r/myriadcoin). Lots more room for new stuff to add.

If there are any pools, merchants, or utilities that you do NOT see listed on the sidebar, please let me know!

Thanks everyone.

[neuroMode]

Just a little housekeeping update:

Reddit Sidebar Update List: http://www.reddit.com/r/myriadcoin/comments/26kzis/sidebar_updates/

Some of the added content:

Consolidated List of Graphic Design Resources: http://www.reddit.com/r/myriadcoin/comments/26l3m5/myriad_consolidated_graphic_design_resources/

Official List of Pools: http://www.reddit.com/r/myriadcoin/comments/26kwbm/official_list_of_myriad_pools/

Reddit Tipping Guide: http://www.reddit.com/r/myriadcoin/comments/25094n/i_wrote_a_guide_to_help_new_users_know_how_to_use/

[neuroMode]

Recent Bounties Paid:

dazz - Myriad Switcher - Full Bounty - 51500.036 MYR

HashEngineering - Android Wallet - 1/2 Bounty - 120,000.00 MYR [*Other half of the bounty (123,000.11 MYR) is paid when Myriad Wallet gets listed on Google Play]

Thank you for your contributions! The community thanks you!

[dasomsos314]

This is the coin I keep mining now and then cause I'm sure people will realize it's worth when the time comes.

You are a very intelligent person,
This is a great potential.

[dasomsos314]

Nice looking rebound for MYR this morning.

Good luck is always accompanied by the people who think!

[SlientBit]

I've been talking about this with Mr_burdell on IRC. It seems to not be a pressing issue to him. The multipools have yet to ever fork Myriad (praise be to multi-PoW).

The only issue I see is that the brief period after we see 5 block runs by multipools--the next 10 blocks. If these next 10 blocks are taking way longer than 25 minutes to solve by the normal ecosystem of miners without multipools, then it's unfair to them. But as each block is solved, the difficulty adjustment goes down faster and faster until it stabilizes completely after 10 blocks.

Yeah, forking isn't an issue due to multi-algo, but neuro, the rest IS
The pool I'm in, mining with scrypt, hasn't found a block in almost 10 hours!!! 
As a miner, I'm totally wasting my resources as I'll get zilch myr for them ...
It doesn't matter if I can switch to other algos, because this simply says that I must move into another coin that I can mine in a profitable way and, maybe, use the proceeds to by myr (assuming I have the necessary hw; yes,I'm using asics to mine scrypt)

Personally, I don't see this outcome as positive for myr 

To put it simply, I really think myr's developers should start discussing changing the code to be more multipool resilient (notice the word : resilient, not resistant )

Multipools are part of the ecosystem and have their role to play, but we need to better get along with them ... and have ways to avoid such impacts.

[kaja]

add blake plz — free extra 16.66% scrypt mutipool resistance

[yes2133]

this coin is for everyone, not just for gpu miners

yes and
It give us the prospect of unlimited reverie
Thank you for your lovely COINS

[mynameisjim]

I've been talking about this with Mr_burdell on IRC. It seems to not be a pressing issue to him. The multipools have yet to ever fork Myriad (praise be to multi-PoW).

The only issue I see is that the brief period after we see 5 block runs by multipools--the next 10 blocks. If these next 10 blocks are taking way longer than 25 minutes to solve by the normal ecosystem of miners without multipools, then it's unfair to them. But as each block is solved, the difficulty adjustment goes down faster and faster until it stabilizes completely after 10 blocks.

Yeah, forking isn't an issue due to multi-algo, but neuro, the rest IS
The pool I'm in, mining with scrypt, hasn't found a block in almost 10 hours!!! 
As a miner, I'm totally wasting my resources as I'll get zilch myr for them ...
It doesn't matter if I can switch to other algos, because this simply says that I must move into another coin that I can mine in a profitable way and, maybe, use the proceeds to by myr (assuming I have the necessary hw; yes,I'm using asics to mine scrypt)

Personally, I don't see this outcome as positive for myr 

To put it simply, I really think myr's developers should start discussing changing the code to be more multipool resilient (notice the word : resilient, not resistant )

Multipools are part of the ecosystem and have their role to play, but we need to better get along with them ... and have ways to avoid such impacts.

The current diff calculation algo is probably one of the best in existence. I don't think there is a better diff calculation method that can protect you when your hashrate is under 1GH and a 5-10-20 GH multipool jumps on you. I think the diff retargeting is coping very very well with such attacks where other coins would fork sideways or get stuck at some absurd diff height.

[8bitcoder]

Updated OP with Android wallet info, latest Electrum version, updated Coinpayment voting contest, and a new merchant (Unbreakablecoinauctions.com).

[neuroMode]

Screenshot of Android Wallet



The funny thing is I posted this screenshot on Twitter and someone sent me 500 MYR!

I <3 cryptocurrencies, but most of all I <3 Myriadcoin.