ANN-EMC2 Einsteinium FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY KMD-dPoW

[Timespace]

A little fuel:
We looked up the code and were able to see that the current 'power savings' are just temporary as the algo itself is very bad in shape so its not properly configured which leads to less work for the card. So if its 'optimized' ( which is something bad in this case :-) ) in the future that energy saving 'feature' will fall apart but the hashrate will rise because of optimiziation.
Furthermore all algos used in x11 are optimized for ASICs :-)

So its possible that X11 is a "Trojan Torse"?, trying to trick us with energy saving and ASIC resistant talk, when in reality its just a poor optimized algo?
And in the near future after a widespread adoption its true colours will show up? Like a super duper X11 ASIC miner?
Is the ASIC industry trying to manipulate us?  

Doubtful that it is the manufacturers toying with us. X11 is the same person who created darkcoin. I'd say they are one of the most against the centralized nature of the world as it gets. Dark send, also the same guy will supposedly make transactions completely anonymous. Not exactly mainstream. The algos in x11 are all at least individually asic easy, but combined make it slightly more complex to do. That means there could be a good 8 to 12 month period of ASIC free mining. The optimization will happen with better cpu/gpu mining software. And yeah there will probably be some crazy super asic in the future, but that is down the road some time. Scrypt is beginning to see that super asic part.

[praxiscat]

A little fuel:
We looked up the code and were able to see that the current 'power savings' are just temporary as the algo itself is very bad in shape so its not properly configured which leads to less work for the card. So if its 'optimized' ( which is something bad in this case :-) ) in the future that energy saving 'feature' will fall apart but the hashrate will rise because of optimiziation.
Furthermore all algos used in x11 are optimized for ASICs :-)

So its possible that X11 is a "Trojan Torse"?, trying to trick us with energy saving and ASIC resistant talk, when in reality its just a poor optimized algo?
And in the near future after a widespread adoption its true colours will show up? Like a super duper X11 ASIC miner?
Is the ASIC industry trying to manipulate us?  

The Idea is just to keep asic far away for some month to gain volume

Essentially, yes. Eventually there will be X11 asics as it gains popularity, but it is probably at least a year away. By that time EMC2 will go from it's startup phase and into it's maturity phase. More mature coins can benefit from ASICs, and by that point it would not hurt the coins value. We don't want this coin to be a pump and dump coin, we are trying to build a sustainable organization around the coin, that can be the basis for a sustainable community.
Again this is a big if, the developers have a big word in this. derbrause by the way is one of them.
Again I think one thing the community in general is nothing is ASIC proof forever, but timing when ASICs come in does have impact over the life of a coin.

[SomeRelax]

hey dev,
blake 256 can be a good choice for change
as i know, there are two coins right now by this algo
"blakecoin" itself and "photoncoin"
both devs (cinnamon_carter and BlueDragon747 (creator of blake coin)) are working hard to manage and release a merged mine pool for those coins
you can contact them for cooperation in algo and merged mine pool too
just a suggestion

[Timespace]

Another idea, and this may be too man power intensive, is to create a different or modified algo. It is not doable unless we could have miners or forks of mining software that work out of the gate. I have a feeling that creating new algos could start becoming the next big coin feature. Who knows? Benefit would be a potentially better algo, and some serious respect for the EMC2 devs. Downsides would be time/man power and any potential risks of getting it completed correctly.

[gizz_]

Please, support Einsteinium at:

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Donations are welcome • EMC2: EcXytMHJR4F3uxxH1EoTVFRGYisGUHFsh6 • Thank you

[SnoopCn]

A little fuel:
We looked up the code and were able to see that the current 'power savings' are just temporary as the algo itself is very bad in shape so its not properly configured which leads to less work for the card. So if its 'optimized' ( which is something bad in this case :-) ) in the future that energy saving 'feature' will fall apart but the hashrate will rise because of optimiziation.
Furthermore all algos used in x11 are optimized for ASICs :-)

So its possible that X11 is a "Trojan Torse"?, trying to trick us with energy saving and ASIC resistant talk, when in reality its just a poor optimized algo?
And in the near future after a widespread adoption its true colours will show up? Like a super duper X11 ASIC miner?
Is the ASIC industry trying to manipulate us?  

Woah woah woah ... take off your foilhat .. i only said that this 'optimization' is more or less a lucky circumstance by poor algo design :-).. nothing more

couldn't it be that its intended for the algo to be "not optimized" because it uses less electricity. If everyone is running an less efficient algo it doesn't change the reward of any miner, because everyone is running slower and less efficient. That way a lot of electricity would be saved. Would make a lot of sense to keep it that way wouldn't it?

[bobq]

1. The exchange arguement I am not even going to justify. I have purchased and traded for most of my coin on exchanges. They are a necessary part of the success of the coin.
2. This is more to the heart of the question. Is ASIC resistance necessary forever: NO. But having large ASICs early in the lifecycle of the coin can actually harm the coin. It would both create a big barrier for entry, and kill any chance we have at building a broader community over the next 8 months which will be critical. ASICs later can help maintain the network, those mining for 1 coin per block with the possibility of a wormhole will not make sense to be gpu miners. This is not about making the coin ASIC proof. This is really a matter of timing more than anything. While ASICs are going to happen with X11 (and any other algorithm) eventually, it may take 12-18 months, especially if the alternative algorithms are fragmented, which they have.
3. To those who say the ASICs may lift all scrypt coin boats, that is not really the case having large ones target a coin changes the dynmics, some smaller coins will be hurt, especially those in the startup phase as we are. It can centralize the network quickly as the coin is strip mined, with rapid difficulty increase, then dropped. The more mature ones will benefit. I think if the larger scale asics were six months out, I would say sticking to scrypt is fine. Again, as people have correctly observed, it's not the individuals with ASICs, it is the the large farms  from the manufacturers, and they are now 2-3 months out. This changes the dynamics significantly.
4. KGW is a defense against multipools, not ASICs.
5. The last part is important, this represents an opportunity to build a broader community by those now looking to leave scrypt coins and continue mining, small time miners who often are more apt to support a coin they can believe in, then dump a coin for a quick profit. It will also mean that at a key time our coin will be welcoming to newcomers. This broad community is critical for helping to fulfill our mission, at least I believe that, as they may be interested in giving a little extra projects because they believe in the mission. They may also be the ones who convince vendors, tell their friends, bring things up to the press, create things on their own, and open the doors to partnerships. A large ASIC farm is not going to care when we want to fill a funding target through a fundraiser which we may have been short with during the funding round. They will not want to create things involving the coin.  The reality of cryptocurrency, is they are more community based organisms then anything else. We are in our infancy there. We have the people in place to create this community, but the technology can easily cut that off. Because the smaller miners and newcomers, will be turned off because we are still scrypt, rightly or wrongly. Building a broad base is critical for our success, ASIC farms are not. Without a dispersed community, you really do not have much of a market for people to use this as a currency.
6. In terms of power savings, I can say where there may be no effeciency gain if it's optimized. At the same time the ease of use element is probably the biggest gain from X11.

Again, I am seeing this as somebody who literally is more interested in keeping this coin alive, meeting it's mission, then seeing it dead. While there will always be farms, ASIC or GPU, and people who dump for profit, early in a coins lifecycle it needs to build community. We may not get the chance to build this community if we stick to scrypt. Largely because those smaller miners that provide a broad base are going to be avoiding scrypt coins. We have an opportunity to open the door to the wider community by switching, I don't think it should be wasted. Building an economy around this coin means having more people around and a low barrier to entry early on. Not creating a massive barrier early in it's lifecycle.

Again these are my personal opinions.

+1
I totally agree.
The value of a coin is 99% generated by the quality and consistency of its community, so the main concern for the success of the coin must be to focus on the growth of the community. Changing algorithm is a technical necessity to protect the coin from asic crypto-locusts which are NOT part of the community and which therefore would only harm the coin in its early stage of life. Those who think that more asic hashpower is what rises the value of a coin didn't really understand what has made the success of bitcoin. Value is a consequence of the interactions of a community, not something funny that you just add to a coin by magic. Stop trying to guess which magic or technical trick can rise the value of the coin and focus instead to grow (and protect!) our community - and you will see that the value will follow.

[einsteinium]

Foundation, Donation & Algo Update.

Good afternoon EMC2 community. Just wanted to touch base with everyone for an update on what's been going on behind the scenes at the EMC2 workshop.

X11

We have been working hard testing and discussing X11 . Its by no means ready to launch and it may never launch if the team feels like there's a better way to go. But at this point it looks very probable that IF we'll be switching to X11 in the near future, everything will need to be rebuilt. Wallet, android app, ect ect ect so everyone will have ample time and advance warning to adjust to the possible upcoming switch to X11, It wont happen overnight, likely there will be at least 25 days notice.

Foundation

We haven't been talking about this too much over the last few weeks on this thread, but its time now that you guys are aware of whats happening on that front. We have a lawyer were working with to get the foundation NPO incorporation papers complete. This will likely take about 2 weeks from now until those papers are signed and the foundation is "officially" up and running as a non profit organization . We have chosen 4 members of the team internally to be the first 4 directors of the foundation and once the paperwork is finalized we'll publish that info here and on the www.einsteinium.org site.

Once the papers are here we'll be able to open bank accounts and start really making a difference. This will be huge for the coin, the foundation, this community and more importantly science. I'll keep you guys posted on how this goes but expect that front to be kind of quiet over the next week or so.

Dr. Walter Moss Donation

We have been in contact with Dr Moss as you are all well aware by now regarding his win in our first ever vote. He was extremely excited to find out that he won and cant wait to get the funds and start on his fact finding research. Were still playing tag with www.experiment.com and trying to find out if we can make the payment directly with EMC2. If anyone wants to tweet them on our behalf to wake them up you can do so here:https://twitter.com/lets_experiment

If we cant get the funds to experiment.com in EMC2 then one of our team members will make the donation on their credit card on behalf of Einsteinium. This is not the best route to go but this will change once we can "cut a check" from the foundation directly.

On a side note, the team has thrown in an extra 10% in EMC2 that Dr Moss will hold and maybe donate to some people he knows.

If you guys have any questions, I'll be on for a little bit to answer them as best as I can.

[gizz_]

very nice  thx 4 the news!

[praxiscat]

Dr Moss has also agreed to do an Ask Me Anything on our subreddit. So I will let the community know when that is happening, likely sometime next week. 

[einsteinium]

Dr Moss has also agreed to do an Ask Me Anything on our subreddit. So I will let the community know when that is happening, likely sometime next week.  

For real.. That was fast! I have some questions I'd like to ask.. Better start getting them ready now.

Awesome news!

[etoque]

Thanks for the news devs ! Very appreciate ! 

[praxiscat]

The Ask Me Anything with Walter Moss, Ph.D. will be from 6PM - 8PM EST this Sunday on the Einsteinium subreddit!

EDIT. This will be US Eastern Standard Time.

[einsteinium]

The Ask Me Anything with Walter Moss, Ph.D. will be from 6PM - 8PM this Sunday on the Einsteinium subreddit!

Awesome, I'll get my questions ready.

[ottobene]

Wow wow! here there is a serious discussion! What did I miss?

[ottobene]

The Ask Me Anything with Walter Moss, Ph.D. will be from 6PM - 8PM this Sunday on the Einsteinium subreddit!

Awesome, I'll get my questions ready.

Oбязaтeльнo бyдy тaм, интepecнo пooбщaтьcя c пoбeдитeлeм

[ottobene]

The Ask Me Anything with Walter Moss, Ph.D. will be from 6PM - 8PM this Sunday on the Einsteinium subreddit!

Awesome, I'll get my questions ready.

Oбязaтeльнo бyдy тaм, интepecнo пooбщaтьcя c пoбeдитeлeм

Lol i mean "i'll sure to be there, it is interesting to talk with the winner"

[Guyinanutshell]

This is the beginning, for EMC2 and all future coins inspired from EMC2! happy to be along for the ride

[gizz_]

Please, support Einsteinium at:

mintpal
 - You can vote 5 times per hour, must be registered.
Cryptsy
 - You must be registered.

Donations are welcome • EMC2: EcXytMHJR4F3uxxH1EoTVFRGYisGUHFsh6 • Thank you

[chocobo]

The Ask Me Anything with Walter Moss, Ph.D. will be from 6PM - 8PM this Sunday on the Einsteinium subreddit!

Awesome, I'll get my questions ready.

this could be huge for einsteinium and has front page potential. Reddit loves science