[ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]

[AbhijoySarkar]

I will give a look at Parachute Pool. I've also made a little try to mine with my very limited resources since indeed the wallet seems very friendly for doing that, but the wallet didn't detect in my system any GPU card it could mine with, and I have a 1060 nvidia card. Which could be the reason for that?

It's usually because you don't have have the latest CUDA installed. Once that is updated, lightwallet should be able to detect your GPU. Also make sure that your GPU has at least 2 GB free so that it can participate in mining.

Do you have plans to be listed on any stock exchange ?

It's currently traded on an internal exchange (market.merit.me). And yes, there are plans for other exchanges. As per the last AMA, timeline for new exchange is Q4 of this year. But no updated news on that yet.

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[AppleSauced]

So what happened to this project? The net hash rate has gone down considerably since I last was around. The price has taken a dive, and the mining rewards have been reduced even more!!!!  It used to be 10 coins went to the miner and 10 coins went to some growth rewards. But now it is 5 coins goes to the miner and 15 coins goes to growth rewards. This new change was the result of POG3, which basically screws over the miners, the people who keep the blockchain going. They only get 5 coins for solving the work on the blockchain, while people who hold the most coins, gets the rest of the 15 coins from the block solved.

Before, growth rewards were given to people who held at least 20 coins in their wallet. Now, you basically have to be a top 1% Merit holder to earn rewards. On top of that, you also need to have a network of people under you to boost your score. The problem, as noted before, is the ability to get invites. You have to mine on certain pools, or straight out buy them in order to get them. Also, people constantly spamming their links and fake applicants wasting peoples invites. A very strong barrier to entry for this project.

They made hundreds, if not a thousands test(fake)wallets to test their new pog3 fork. However, this test was done on the live blockchain, and not on their test network. These test wallets, have been gaining growth rewards and basically robbing real users from gaining any rewards. On top of this, they plan a sale of 15 million coins from their 20 million genesis block in a just a few days further flooding the market with coins, basically going to hurt the price of this coin.

You have to buy a lot of coins from their in-house exchange(the only exchange) in order to gain these so called growth rewards. Forget mining this coin anymore, because only 25% of the block is rewarded to actual miners, while the rest of the block(75%) is given to top Merit holders. It is not profitable at all to mine this coin, unless you get free electricity.

They're basically saying, you have to buy a ton load of coins from their exchange, if you want to partake in these growth rewards, because screw the miners. This project feels like a ponzi/pyramid type scam even more than before!!!! BEWARE!!!!

[CryptoRobert]

So what happened to this project? The net hash rate has gone down considerably since I last was around. The price has taken a dive, and the mining rewards have been reduced even more!!!!  It used to be 10 coins went to the miner and 10 coins went to some growth rewards. But now it is 5 coins goes to the miner and 15 coins goes to growth rewards. This new change was the result of POG3, which basically screws over the miners, the people who keep the blockchain going. They only get 5 coins for solving the work on the blockchain, while people who hold the most coins, gets the rest of the 15 coins from the block solved.

Before, growth rewards were given to people who held at least 20 coins in their wallet. Now, you basically have to be a top 1% Merit holder to earn rewards. On top of that, you also need to have a network of people under you to boost your score. The problem, as noted before, is the ability to get invites. You have to mine on certain pools, or straight out buy them in order to get them. Also, people constantly spamming their links and fake applicants wasting peoples invites. A very strong barrier to entry for this project.

They made hundreds, if not a thousands test(fake)wallets to test their new pog3 fork. However, this test was done on the live blockchain, and not on their test network. These test wallets, have been gaining growth rewards and basically robbing real users from gaining any rewards. On top of this, they plan a sale of 15 million coins from their 20 million genesis block in a just a few days further flooding the market with coins, basically going to hurt the price of this coin.

You have to buy a lot of coins from their in-house exchange(the only exchange) in order to gain these so called growth rewards. Forget mining this coin anymore, because only 25% of the block is rewarded to actual miners, while the rest of the block(75%) is given to top Merit holders. It is not profitable at all to mine this coin, unless you get free electricity.

They're basically saying, you have to buy a ton load of coins from their exchange, if you want to partake in these growth rewards, because screw the miners. This project feels like a ponzi/pyramid type scam even more than before!!!! BEWARE!!!!

This is a very interesting point you make. The concept behind Merit is super-cool, but the practic implementation quite sucks. As a latecomer I'm personally totally stuck as far a "proof of growth" is concerned (for the reasons I've explained in a previous post of mine) - and this applies to every newcomer so in other words the network CANNOT really grow this way. The "proof of growth" should be renamed "proof of whale" since only people with their bags full of Merits will eventually get more. I've also given a try to mine Merits with the wallet but as a result I've ended only in wasting electricity and getting ZERO merits. On top of that the news that coins will be sold by the team to people makes it really look like just another Ponzi. The only realistic way to get the coins is to fucking buy them? WTF? So you guess what? Good project on paper - but in the real world it has probably no future.

[Amityvill]

the distribution of the invites and quick wallet activation

https://wallet.merit.me/?invite=Amityvill

[Maicol792]

i need unloking of my wallet

https://wallet.merit.me/?invite=Maicol792

thanks to all for use my invite and unlock my wallet. 

[mempko]

So what happened to this project? The net hash rate has gone down considerably since I last was around. The price has taken a dive, and the mining rewards have been reduced even more!!!!  It used to be 10 coins went to the miner and 10 coins went to some growth rewards. But now it is 5 coins goes to the miner and 15 coins goes to growth rewards. This new change was the result of POG3, which basically screws over the miners, the people who keep the blockchain going. They only get 5 coins for solving the work on the blockchain, while people who hold the most coins, gets the rest of the 15 coins from the block solved.

Before, growth rewards were given to people who held at least 20 coins in their wallet. Now, you basically have to be a top 1% Merit holder to earn rewards. On top of that, you also need to have a network of people under you to boost your score. The problem, as noted before, is the ability to get invites. You have to mine on certain pools, or straight out buy them in order to get them. Also, people constantly spamming their links and fake applicants wasting peoples invites. A very strong barrier to entry for this project.

They made hundreds, if not a thousands test(fake)wallets to test their new pog3 fork. However, this test was done on the live blockchain, and not on their test network. These test wallets, have been gaining growth rewards and basically robbing real users from gaining any rewards. On top of this, they plan a sale of 15 million coins from their 20 million genesis block in a just a few days further flooding the market with coins, basically going to hurt the price of this coin.

You have to buy a lot of coins from their in-house exchange(the only exchange) in order to gain these so called growth rewards. Forget mining this coin anymore, because only 25% of the block is rewarded to actual miners, while the rest of the block(75%) is given to top Merit holders. It is not profitable at all to mine this coin, unless you get free electricity.

They're basically saying, you have to buy a ton load of coins from their exchange, if you want to partake in these growth rewards, because screw the miners. This project feels like a ponzi/pyramid type scam even more than before!!!! BEWARE!!!!

This is a very interesting point you make. The concept behind Merit is super-cool, but the practic implementation quite sucks. As a latecomer I'm personally totally stuck as far a "proof of growth" is concerned (for the reasons I've explained in a previous post of mine) - and this applies to every newcomer so in other words the network CANNOT really grow this way. The "proof of growth" should be renamed "proof of whale" since only people with their bags full of Merits will eventually get more. I've also given a try to mine Merits with the wallet but as a result I've ended only in wasting electricity and getting ZERO merits. On top of that the news that coins will be sold by the team to people makes it really look like just another Ponzi. The only realistic way to get the coins is to fucking buy them? WTF? So you guess what? Good project on paper - but in the real world it has probably no future.

"The only realistic way to get the coins is to fucking buy them?"

I'm curious, you are promoting EOS ex. What's the only realistic way to get EOS coins? Aren't they delegated proof-of-stake?

In terms of mining Merit, one GPU gets probably around 15 MRT per day. Whether that is profitable depends on the price and people's costs. Within a little over a day of mining, you can start getting growth rewards. You don't need to buy if you don't want to, you can mine, unlike say EOS.

[mushroomjazz]

This PoW Reward Switcharoo is a major deal breaker.

[CryptoRobert]

So what happened to this project? The net hash rate has gone down considerably since I last was around. The price has taken a dive, and the mining rewards have been reduced even more!!!!  It used to be 10 coins went to the miner and 10 coins went to some growth rewards. But now it is 5 coins goes to the miner and 15 coins goes to growth rewards. This new change was the result of POG3, which basically screws over the miners, the people who keep the blockchain going. They only get 5 coins for solving the work on the blockchain, while people who hold the most coins, gets the rest of the 15 coins from the block solved.

Before, growth rewards were given to people who held at least 20 coins in their wallet. Now, you basically have to be a top 1% Merit holder to earn rewards. On top of that, you also need to have a network of people under you to boost your score. The problem, as noted before, is the ability to get invites. You have to mine on certain pools, or straight out buy them in order to get them. Also, people constantly spamming their links and fake applicants wasting peoples invites. A very strong barrier to entry for this project.

They made hundreds, if not a thousands test(fake)wallets to test their new pog3 fork. However, this test was done on the live blockchain, and not on their test network. These test wallets, have been gaining growth rewards and basically robbing real users from gaining any rewards. On top of this, they plan a sale of 15 million coins from their 20 million genesis block in a just a few days further flooding the market with coins, basically going to hurt the price of this coin.

You have to buy a lot of coins from their in-house exchange(the only exchange) in order to gain these so called growth rewards. Forget mining this coin anymore, because only 25% of the block is rewarded to actual miners, while the rest of the block(75%) is given to top Merit holders. It is not profitable at all to mine this coin, unless you get free electricity.

They're basically saying, you have to buy a ton load of coins from their exchange, if you want to partake in these growth rewards, because screw the miners. This project feels like a ponzi/pyramid type scam even more than before!!!! BEWARE!!!!

This is a very interesting point you make. The concept behind Merit is super-cool, but the practic implementation quite sucks. As a latecomer I'm personally totally stuck as far a "proof of growth" is concerned (for the reasons I've explained in a previous post of mine) - and this applies to every newcomer so in other words the network CANNOT really grow this way. The "proof of growth" should be renamed "proof of whale" since only people with their bags full of Merits will eventually get more. I've also given a try to mine Merits with the wallet but as a result I've ended only in wasting electricity and getting ZERO merits. On top of that the news that coins will be sold by the team to people makes it really look like just another Ponzi. The only realistic way to get the coins is to fucking buy them? WTF? So you guess what? Good project on paper - but in the real world it has probably no future.

"The only realistic way to get the coins is to fucking buy them?"

I'm curious, you are promoting EOS ex. What's the only realistic way to get EOS coins? Aren't they delegated proof-of-stake?

In terms of mining Merit, one GPU gets probably around 15 MRT per day. Whether that is profitable depends on the price and people's costs. Within a little over a day of mining, you can start getting growth rewards. You don't need to buy if you don't want to, you can mine, unlike say EOS.

The Merit wallet does not see my GPU, Nvidia 1060 - it tell me "You do not have any GPU device yet" even though of course I have - I don't know why, didn't see any help or tutorial which would help me understand how the wallet should start seeing my GPU. Therefore only CPU mining possible and even though I have a powerful 8-core i7 processor, one day of CPU mining didn't produce a single Merit, but of course it wasted a lot of electricity.
But anyway, what supposedly makes Merit a different coin is its (on paper) brilliant Proof of Growth concept, but if in the real world that does not work at all (for sure it doesn't for me and the few friends which I have involved) than all the special and unique value of this coin is just a delusion.

[SkyDr4k3]

i'm mining with the lightwallet. Is it possible to reduce the gpu power utilization? as for the cpu?

[jayk306]

i'm mining with the lightwallet. Is it possible to reduce the gpu power utilization? as for the cpu?

You should be able to control GPU using software like MSI Afterburner. In the wallet, you should be able to control the amount of cores being used by the miner.

[SkyDr4k3]

the miner only allows setting the cpu. The GPU is always used to the maximum if active.

[disifi]

The Merit wallet does not see my GPU, Nvidia 1060 - it tell me "You do not have any GPU device yet" even though of course I have - I don't know why, didn't see any help or tutorial which would help me understand how the wallet should start seeing my GPU. Therefore only CPU mining possible and even though I have a powerful 8-core i7 processor, one day of CPU mining didn't produce a single Merit, but of course it wasted a lot of electricity.
But anyway, what supposedly makes Merit a different coin is its (on paper) brilliant Proof of Growth concept, but if in the real world that does not work at all (for sure it doesn't for me and the few friends which I have involved) than all the special and unique value of this coin is just a delusion.

Have you tried this procedure? https://merit.disifi.com/wiki/unavailable-gpus

1. Update your graphics drivers
2. Save and record your 12 word passphrase somewhere safe
3. Click on "Settings" in the left hand menu of the wallet
4. MAKE SURE YOU HAVE COMPLETED STEP 2. Click on the red button at the bottom to "Clear data and logout".
5. Reload your wallet using your 12 word passphrase
6. Happy mining!

[jayk306]

the miner only allows setting the cpu. The GPU is always used to the maximum if active.

The lightwallet will use the gpu at 100% utilization, it is not possible to reduce the usage in the lightwallt. You will have to use a 3rd party GPU Overclocking software like MSI Afterburner in order to control the utilization of the GPU while using the lightwallet.

You can also use the more efficient 3rd party miner, like zjazz miner to help configure your mining settings. https://github.com/zjazz/zjazz_cuda_miner

[disifi]

This is a very interesting point you make. The concept behind Merit is super-cool, but the practic implementation quite sucks. As a latecomer I'm personally totally stuck as far a "proof of growth" is concerned (for the reasons I've explained in a previous post of mine) - and this applies to every newcomer so in other words the network CANNOT really grow this way. The "proof of growth" should be renamed "proof of whale" since only people with their bags full of Merits will eventually get more. I've also given a try to mine Merits with the wallet but as a result I've ended only in wasting electricity and getting ZERO merits. On top of that the news that coins will be sold by the team to people makes it really look like just another Ponzi. The only realistic way to get the coins is to fucking buy them? WTF? So you guess what? Good project on paper - but in the real world it has probably no future.

I read other posts in topic I missed. First of all, it's not begging when you ask your inviter for more invites. Invites are here and yes it depends on a) mining b) CGS. So I am getting more invites with wallet that invited many people and has some balance and do some mining than for example you. It's hard to tell who should get invites in decentralized way, and this seems to me pretty good solution. And we, people, community, are here to compensate it. There's nothing wrong asking someone higher in your ambassador tree for invites, I did it before too and that's the point of community. Even someone outside your tree will likely send you couple of as KAMO mentioned. I sent you 5 more invites and if wallet invited by you will need invites just let me know and I will send them too. It's not about begging it's just about letting me know, so invites will be spread the best way they can be.

Also there are more ways to get invites but if your inviter has some (in your case me) or someone upper in a tree, there's no reason avoiding to ask. As was mostly mentioned:
1. you can get it from centralized pools, starting with Parachute is great, but you need to wait until end of the month, it's similar, you have to ask for them via form (not begging!)
2. try to get 20 MRT to your wallet and you'll be qualified for Proof of Growth rewards, it's not true only whales get it, you'll get couple rewards in a month even with 20 MRT wallet you have also a chance to get invite from blockchain this way, check your rank here https://merit.disifi.com/wallet/Roberto
3. last but not least, invites are not so expensive nowadays, motivation to create fake wallets disappeared with PoG3 and I guess you would get invites starting at 2 MRT on Discord, it's worth it if you're going to invite some real wallets it will be returned in growth rewards pretty soon

[Saphire]

When Merit coin will be listed on any exchange? I see so many manupulations on meritmarket and most of them are unreal trades.

[mercoinz]

a few small manipulations but if you look at the explorer its clear that the majority of the volume is real.

[mempko]

For those that haven't seen, Merit started a Genesis Block Sale. We will be running a 555-day auction (about 18 months) to help fund the project over the long term.

It's 27000 MRT a day (about 15 million in 18 months) distributed proportionally to those that send in BTC for that day's round.

For example, if you send in 0.1 BTC and the round gets 0.5 BTC in total, you will receive 0.1/0.5 or 20% of the MRT that day. 20% of 27000 MRT is 5400 MRT.

[AppleSauced]

Its like send me 0.1 BTC and I'll send you 1 BTC, but instead of BTC, its Merit coin.  Oh yeah, theres currently no exchanges that trade Merit, except the Developers own in-house Market. Also, you can only make sell orders, no buy orders on this exchange. Also, this exchange of theirs is heavily manipulated!!!

[mempko]

Its like send me 0.1 BTC and I'll send you 1 BTC, but instead of BTC, its Merit coin.  Oh yeah, theres currently no exchanges that trade Merit, except the Developers own in-house Market. Also, you can only make sell orders, no buy orders on this exchange. Also, this exchange of theirs is heavily manipulated!!!

It's actually an auction, there is nothing magical here. I'm sure you understand how auctions work. No unicorns giving you magical returns. It's about "Do you want to contribute to the development of the project or not". If you don't, then don't, simple as that.

[AppleSauced]

Can you say???    WASU WASU WASU WASU WASSUP? MEERRRRRIIIIIIIIIIIIIIIIIIIIIIIIIIIIT!!!!!