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neuroMode
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May 11, 2014, 07:43:54 PM |
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I want the future to be fairWe all love Bitcoin and Litecoin, but they're not fair. Having to pay $5,000 for a machine that will break you even, if your shipment arrives on time, is not fair. The fact that the operator of a pool can get so close to 51% of the nethash is not fair. In fact it's dangerous. We shouldn't be trusting people with power, we should be trusting cryptography. I like what Vertcoin, Groestlcoin, Darkcoin, Execoin, and Groestlcoin stand for: trying to keep GPU mining alive and fending off the ASICs as long as they can. Certainly, it's cheaper, easier, and a less risky investment to get a GPU rig up and running than it is to jump on the ASIC train, but I think we can do better than that. GPUs are everywhere, but you constantly need to upgrade to the next model and who do you buy from? ATI and Nvidia, these are the only makers of profitable cards. Not exactly decentralised. Not to mention the wastefulness of resources being poured into all the redundant hardware components of a GPU mining rig that aren't necessary for hashing, but they do make entry into mining more expensive. I think we can do better than that and I think Myriad can do better than that. We can have a coin with 5 mining algorithms. A coin that already taps into the Bitcoin ASIC market, and the Litecoin ASIC market, while still leaving room for the GPU miners and the CPU miners. Maybe some day there will be ASICs for all of the Myriad algorithms, but whoever comes up with a product will have to be pretty competitive because they're up against the existing ASIC markets and the GPU/CPU miners on an even playing field. I welcome diversity of hardware and competition. Imagine a world some day where anyone can pick up an ASIC for twenty bucks and keep it running in exchange for a few bucks profit a week. A free coke every week. Or maybe a chance to really help out putting food on the table if you are among the world's most poor. That to me sounds like a much safer network, and I don't know of any other coin that's had serious thought put into its design about how we'll get to this world some day. Long live the Myrtopia.Taken from: http://www.reddit.com/r/myriadcoin/comments/259xqk/i_want_the_future_to_be_fair/
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Beave162
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May 11, 2014, 08:19:24 PM
Last edit: May 11, 2014, 09:08:32 PM by Beave162 |
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I want the future to be fairWe all love Bitcoin and Litecoin, but they're not fair. Having to pay $5,000 for a machine that will break you even, if your shipment arrives on time, is not fair. The fact that the operator of a pool can get so close to 51% of the nethash is not fair. In fact it's dangerous. We shouldn't be trusting people with power, we should be trusting cryptography. I like what Vertcoin, Groestlcoin, Darkcoin, Execoin, and Groestlcoin stand for: trying to keep GPU mining alive and fending off the ASICs as long as they can. Certainly, it's cheaper, easier, and a less risky investment to get a GPU rig up and running than it is to jump on the ASIC train, but I think we can do better than that. GPUs are everywhere, but you constantly need to upgrade to the next model and who do you buy from? ATI and Nvidia, these are the only makers of profitable cards. Not exactly decentralised. Not to mention the wastefulness of resources being poured into all the redundant hardware components of a GPU mining rig that aren't necessary for hashing, but they do make entry into mining more expensive. I think we can do better than that and I think Myriad can do better than that. We can have a coin with 5 mining algorithms. A coin that already taps into the Bitcoin ASIC market, and the Litecoin ASIC market, while still leaving room for the GPU miners and the CPU miners. Maybe some day there will be ASICs for all of the Myriad algorithms, but whoever comes up with a product will have to be pretty competitive because they're up against the existing ASIC markets and the GPU/CPU miners on an even playing field. I welcome diversity of hardware and competition. Imagine a world some day where anyone can pick up an ASIC for twenty bucks and keep it running in exchange for a few bucks profit a week. A free coke every week. Or maybe a chance to really help out putting food on the table if you are among the world's most poor. That to me sounds like a much safer network, and I don't know of any other coin that's had serious thought put into its design about how we'll get to this world some day. Long live the Myrtopia.Taken from: http://www.reddit.com/r/myriadcoin/comments/259xqk/i_want_the_future_to_be_fair/ Allegedly, Bitcoin was originally setup to be a lottery, and I think it will return to that point. I believe in the future, bitcoin asics will have 5+ years return on investment if you mine in a pool. What will be appealing will be the chance to find a block, which in the future, will be enough for most people to retire. Also, it will be interesting to see how energy independence will be influenced by future asics. I believe the biggest problem plaguing asics stems from the horrible companies producing the asics--at least NVidia and AMD have reputations. If current asic companies actually had standards, yea there would really be no difference between buying a bunch of gpus vs buying asics. It still requires initial investment, and it still requires energy to mine. I wish MyriadCoin incorporated an NFactor scrypt-chacha algo like YACoin. The only thing keeping MyriadCoin asic-resistant in the future is lack of profitability--not really a motivating selling point. I love the innovation of MyriadCoin, but I just imagine a coin coming out in the near future that improves immensely upon the initial idea: a coin which includes all mining algorithms out there. |
YaCoin: YL5kf54wPPXKsXd5T18xCaNkyUsS1DgY7z
BitCoin: 14PFbLyUdTyxZg3V8hnvj5VXkx3dhthmDj
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Scrappy Do
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May 11, 2014, 09:03:38 PM |
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yes all miners have a readme with everything you need to know  Wow, that was helpful. This not my first rodeo son, and yes I figured it out. You also have to remove the "diificulty-multiplier" as the pools will start rejecting, then ban. Instead of being an ass.. why not help man. Some of us have farms you can only dream of, and work real jobs with kids. |
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foodies123
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May 11, 2014, 09:05:04 PM
Last edit: May 11, 2014, 09:35:27 PM by foodies123 |
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yes all miners have a readme with everything you need to know Wow, that was helpful. This not my first rodeo son, and yes I figured it out. You also have to remove the "diificulty-multiplier" as the pools will start rejecting, then ban. Instead of being an ass.. why not help man. Some of us have farms you can only dream of, and work real jobs with kids. scrappy all relevant info is in my sig including mini-guide for all algos xcept qubit. |
nope
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Scrappy Do
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May 11, 2014, 09:05:42 PM |
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yes all miners have a readme with everything you need to know Oh and by the way.. there is nothing in the readme for bamt 1.62 about myriadcoin-groestl kernel asshole. |
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neuroMode
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May 11, 2014, 09:12:19 PM
Last edit: May 11, 2014, 09:26:52 PM by neuroMode |
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For merchants:   |
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kaja
Newbie
 Offline
Activity: 38
Merit: 0
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May 11, 2014, 09:58:23 PM |
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Allegedly, Bitcoin was originally setup to be a lottery, and I think it will return to that point. I believe in the future, bitcoin asics will have 5+ years return on investment if you mine in a pool. What will be appealing will be the chance to find a block, which in the future, will be enough for most people to retire. Also, it will be interesting to see how energy independence will be influenced by future asics.
I believe the biggest problem plaguing asics stems from the horrible companies producing the asics--at least NVidia and AMD have reputations. If current asic companies actually had standards, yea there would really be no difference between buying a bunch of gpus vs buying asics. It still requires initial investment, and it still requires energy to mine.
I wish MyriadCoin incorporated an NFactor scrypt-chacha algo like YACoin. The only thing keeping MyriadCoin asic-resistant in the future is lack of profitability--not really a motivating selling point. I love the innovation of MyriadCoin, but I just imagine a coin coming out in the near future that improves immensely upon the initial idea: a coin which includes all mining algorithms out there.
I don't really think Myriad needs NFactor scrypt. I don't think GPU mining is an ideal situation and while you're right that low market cap is the only thing holding Myriad back from being 100% ASIC mined, I don't see it as a problem. Imagine ASICs for these algorithms coming out slowly one by one. Unlike Bitcoin and Litecoin ASICs which are totally separate markets, in Myriad they're all competing. A slow transition from a world of mainly GPU mining for Myriad (today), to a world of mainly cheap ASICs from all different makers— not just Nvidia and ATI— and hopefully by then the unscrupulous ASIC makers of today will be long gone thanks to the free market and the power of choice. |
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foodies123
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May 11, 2014, 10:04:47 PM |
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Allegedly, Bitcoin was originally setup to be a lottery, and I think it will return to that point. I believe in the future, bitcoin asics will have 5+ years return on investment if you mine in a pool. What will be appealing will be the chance to find a block, which in the future, will be enough for most people to retire. Also, it will be interesting to see how energy independence will be influenced by future asics.
I believe the biggest problem plaguing asics stems from the horrible companies producing the asics--at least NVidia and AMD have reputations. If current asic companies actually had standards, yea there would really be no difference between buying a bunch of gpus vs buying asics. It still requires initial investment, and it still requires energy to mine.
I wish MyriadCoin incorporated an NFactor scrypt-chacha algo like YACoin. The only thing keeping MyriadCoin asic-resistant in the future is lack of profitability--not really a motivating selling point. I love the innovation of MyriadCoin, but I just imagine a coin coming out in the near future that improves immensely upon the initial idea: a coin which includes all mining algorithms out there.
I don't really think Myriad needs NFactor scrypt. I don't think GPU mining is an ideal situation and while you're right that low market cap is the only thing holding Myriad back from being 100% ASIC mined, I don't see it as a problem. Imagine ASICs for these algorithms coming out slowly one by one. Unlike Bitcoin and Litecoin ASICs which are totally separate markets, in Myriad they're all competing. A slow transition from a world of mainly GPU mining for Myriad (today), to a world of mainly cheap ASICs from all different makers— not just Nvidia and ATI— and hopefully by then the unscrupulous ASIC makers of today will be long gone thanks to the free market and the power of choice. asic competition on our chain would mean you know ... price/performance competition. |
nope
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neuroMode
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May 12, 2014, 12:07:37 AM |
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/r/myriadcoin just reached 500 subscribers! Nice milestone!
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neuroMode
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May 12, 2014, 01:35:30 AM |
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The switcher is ready for beta testing
what would be the right place to post it? just here or in a new thread in the software section?
Perfect! Post it here first then I'll direct our friends on reddit to it. |
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chiguireitor
Legendary
Offline
Activity: 872
Merit: 1010
Coins, Games & Miners
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May 12, 2014, 01:46:07 AM |
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Please fix the following on the walletT: When clicking on a "myriad:" or "myriadcoin:" URI, the wallet should open up with the amount, label and address filled and ready to send. This will help apps have IAPs  Thanks |
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dazz
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May 12, 2014, 01:47:39 AM |
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The switcher is ready for beta testing
what would be the right place to post it? just here or in a new thread in the software section?
Perfect! Post it here first then I'll direct our friends on reddit to it. Is it ok if I include a menu item with donation addresses? |
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neuroMode
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May 12, 2014, 01:57:23 AM |
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The switcher is ready for beta testing
what would be the right place to post it? just here or in a new thread in the software section?
Perfect! Post it here first then I'll direct our friends on reddit to it. Is it ok if I include a menu item with donation addresses? Of course, dude! |
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dazz
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May 12, 2014, 02:01:54 AM |
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The switcher is ready for beta testing
what would be the right place to post it? just here or in a new thread in the software section?
Perfect! Post it here first then I'll direct our friends on reddit to it. Is it ok if I include a menu item with donation addresses? Of course, dude! Ok, I'll add those real quick and post a link with the sources in a while And I'll prepare a readme or something tomorrow |
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dazz
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May 12, 2014, 02:54:58 AM |
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The switcher is ready for beta testing
what would be the right place to post it? just here or in a new thread in the software section?
Perfect! Post it here first then I'll direct our friends on reddit to it. Is it ok if I include a menu item with donation addresses? Of course, dude! Here you go https://dl.dropboxusercontent.com/u/19353176/MyriadSwitcher.zip |
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neuroMode
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May 12, 2014, 03:21:41 AM |
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The switcher is ready for beta testing
what would be the right place to post it? just here or in a new thread in the software section?
Perfect! Post it here first then I'll direct our friends on reddit to it. Is it ok if I include a menu item with donation addresses? Of course, dude! Here you go https://dl.dropboxusercontent.com/u/19353176/MyriadSwitcher.zipThanks! So this needs to be compiled or what? Do you have instructions for it? |
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