[NENG]Nengcoin - A Decentralized Multi-Rig Solo Mining Scrypt Coin

[flowjob]

Hello admin,

Which exchange trades Nengecoin?

To which exchange should we send Nengecoins?

You can buy Nengecoin at SouthXchange https://main.southxchange.com/

southx is closing down tomorrow, i wouldn't send anything there
use Komodo Wallet to trade NENG: https://github.com/KomodoPlatform/komodo-wallet-desktop/releases

[1714202627]

1714202627

[honglu69]

Proposal to Raise Fund for nonKYC.io Listing Immediately - Treasury/Donation

High Level Summary - raise about $1000 USDT listing fee for nonKYC.io immediately and apply for listing on Sunday Jan 21, 2024
Projected listing date: Next week, Jan 22 - 23, 2024

Source of funding - Community Treasury + Donation from Dev.

Cheetahcoin has been listed at nonKYC.io with great result.  NonKYC.io is much better centralized exchange than SouthXchange with great liquidity as seen
in past Cheetahcoin trading actions.  There is need to act fast and list into a good CEX at low cost immediately, not to drag on feet.  The more CEX with great
liquidity is better, but the reality is that donation raising takes time as seen in last SouthXchange listing period 3 years ago during last bitcoin bull market. The community was stronger with much more activities in discord/reddit, but donation was not easy, it took several months and effort from all teams actions. We can not afford such long wait and effort for first CEX listing.  

The listing fee is low enough that solution is ready in this proposal.

Funding source: Donation from dev (Hong) and Treasury funding , see below details.

- Treasury funding on NENG only,  no other coins.  The current treasury balance:

(1) Donation balance - 663 million NENG,  came from past donation for the Hack events for community use, but never used before.  
http://nengexplorer.mooo.com:3001/address/NMiWtMQg98v6mmhAXasGD95HjzYP9ivCGG
(2) Excess NENG reserve for WNENG backing - 733 million
This was the 1% premine to back up WNENG 1:1. There are only 740 million WNENG that needs backing. The NENG reserve was reserved too much.  
The current community treasury holding includes 1473 million NENG plus insignificant WNENG holdings.
http://nengexplorer.mooo.com:3001/address/NdN2uarD1uahqHWmr4SXvysiJyyxXCqvYZ

1.473 billlion minus 740 million for 1:1 WNENG backing, the excess NENG = 733 million NENG

Total above (1) + (2) combined = 1396 million NENG
Using pre-southXchange shut down date pricing about 0.00000300 DOGE pricing then, this was about 4188 DOGE or 350 USD of treasury funding in USDT.

-  Donation from Dev Hong - remaining balance of $1000 USDT, or 650 USDT

Total combined:  enough funding for nonKYC.io CEX application immediately. Dev Hong will exchange above 1.396 billion NENG for fair value of USDT
If any member have issue or concerns, please raise the issue in discord at:
https://discord.gg/UPeBwgs

WNENG  issue - WNENG is out of SouthXchange.  There is chance to list WNENG into atomicDEX trading in the future, working with @cipi on Komodo
discord already.  The WNENG/BNB trading in Pancakeswap continues without change.  

[honglu69]

Nengcoin (NENG) is listed at nonKYC.io Exchange
We are excited to announce that Nengcoin (NENG) is listed at NonKYC Exchange on two trading pairs (NENG/USDT and NENG/DOGE). Please be aware that nonKYC does impose minimum deposit and minimum withdraw ($1 USD equivalent). Happy trading fellow Nengsters!
https://nonkyc.io/

[honglu69]

First Day Trading at nonKYC suppassed $100 USD volume

 
First day trading at nonKYC.io exchange for Nengcoin (NENG), aka NewEnglandcoin has been quite successful so far. The trading volume surpassed $100 USD.

Lot of site did not catch this and I found the best site showing pricing and mining hash rate action on this date is at miningpoolstats at:
https://miningpoolstats.stream/newenglandcoin

Note that miningpoolstats still shows our old name NewEnglandcoin while the ticker and symbol is correct.

Attached at reddit are top and bottom screen shot of first date trading and mining actions:

https://www.reddit.com/r/nengcoin/comments/19f1q12/first_day_trading_at_nonkyc_suppassed_100_usd/

[DirkDunkirk]

Is there a trick to get the wallet released June 6th, 2022 to sync? Not using that Komodo bullshit whatever that is.

[M.Antonio]

Is there a trick to get the wallet released June 6th, 2022 to sync? Not using that Komodo bullshit whatever that is.

komodo is nice solution for crypto with atomic swaps

to sync you need to add addnote http://nengexplorer.mooo.com:3001/network 

[DirkDunkirk]

komodo is nice solution for crypto with atomic swaps

to sync you need to add addnote http://nengexplorer.mooo.com:3001/network  

I'd rather use the legit wallet. Thanks!!

[DirkDunkirk]

Something is seriously wrong with this network! If poolmz.online has 96.2% of the hashrate, how are all these Unknown blocks getting mined? 96% of the network hash rate but 25 mins to find a block? :O

Code:

5018051		
5018050		
5018049		
5018048		
5018047		
5018046		
5018045		
5018044		
5018043		
5018042		
5018041		
5018040	poolmz.online	25 minutes

https://i.imgur.com/VgstNUV.png

Difficulty 0.0?? Hmm.

[honglu69]

Nengcoin (NENG) is listed at Coingecko!

We are excited to announce that Nengcoin (NENG) is listed at Coingecko with nonKYC trading pricing!
Coingecko is the world's largest independent cryptocurrency data aggregator. From now on, millions of crypto traders and users can find Nengcoin (NENG) chart and quote easily!

https://www.coingecko.com/en/coins/nengcoin

[DirkDunkirk]

Nengcoin (NENG) is listed at Coingecko!

We are excited to announce that Nengcoin (NENG) is listed at Coingecko with nonKYC trading pricing!
Coingecko is the world's largest independent cryptocurrency data aggregator. From now on, millions of crypto traders and users can find Nengcoin (NENG) chart and quote easily!

https://www.coingecko.com/en/coins/nengcoin

So we're just not going to talk about how the difficulty is 0.0 and the Network hash rate is 0.17MH/s as seen on: http://nengexplorer.mooo.com:3001/ when there's no way that can be accurate because some "Unknown" miner is getting like 99% of the blocks?

Is it potentially a 51% attack or something?

[honglu69]

Nengcoin (NENG) is listed at Coingecko!

We are excited to announce that Nengcoin (NENG) is listed at Coingecko with nonKYC trading pricing!
Coingecko is the world's largest independent cryptocurrency data aggregator. From now on, millions of crypto traders and users can find Nengcoin (NENG) chart and quote easily!

https://www.coingecko.com/en/coins/nengcoin

So we're just not going to talk about how the difficulty is 0.0 and the Network hash rate is 0.17MH/s as seen on: http://nengexplorer.mooo.com:3001/ when there's no way that can be accurate because some "Unknown" miner is getting like 99% of the blocks?

Is it potentially a 51% attack or something?

Please read white paper and possibly checkout github source code if you can on Nengcoin (NENG) security model behind the low diff you are seeing now.

So far, we have not been attacked on 51% for about 2 years.  note that NENG has been in CEX trading from SouthXchange to now nonKYC.io bigger exchange all day long, only recent couple of weeks that we had no trading at CEX and only light trading at DEX recently.

[DirkDunkirk]

Please read white paper and possibly checkout github source code if you can on Nengcoin (NENG) security model behind the low diff you are seeing now.

So far, we have not been attacked on 51% for about 2 years.  note that NENG has been in CEX trading from SouthXchange to now nonKYC.io bigger exchange all day long, only recent couple of weeks that we had no trading at CEX and only light trading at DEX recently.

I don't have time for that, but thanks I appreciate the info.

Can you explain why it's so hard to mine with ASICs? Is that due to the randomSpike thing?

Also, how is "Unknown" basically getting like 90% of all new blocks? Is that a sign of randomSpike failing? If you look at the wallet it's being mined to, that person has about 201m NENG: http://nengexplorer.mooo.com:3001/address/NVi9VDFwRjYA2GiFrZ7KZmSf1gmDdaFCx6 Or am I missing the point of the randomSpike feature?

[honglu69]

Please read white paper and possibly checkout github source code if you can on Nengcoin (NENG) security model behind the low diff you are seeing now.

So far, we have not been attacked on 51% for about 2 years.  note that NENG has been in CEX trading from SouthXchange to now nonKYC.io bigger exchange all day long, only recent couple of weeks that we had no trading at CEX and only light trading at DEX recently.

I don't have time for that, but thanks I appreciate the info.

Can you explain why it's so hard to mine with ASICs? Is that due to the randomSpike thing?

Also, how is "Unknown" basically getting like 90% of all new blocks? Is that a sign of randomSpike failing? If you look at the wallet it's being mined to, that person has about 201m NENG: http://nengexplorer.mooo.com:3001/address/NVi9VDFwRjYA2GiFrZ7KZmSf1gmDdaFCx6 Or am I missing the point of the randomSpike feature?

Yes, that dominant miner most likely is a big CPU miners with very big CPU resources like gaming-level high end of PC or MacOS and mining NENG.  Historically there are only a few powerful CPU miners mining NENG and lack of miner competition means dominant of rewards.

No I do not believe this is failure of "randomSpike".  I do not have gamining PC.  If you want reward of NENG and you do and are willing to compete in mining NENG, yes, you will join the big miner reward on low diff period.  You can be this "unknown" miner if you want to be. Mining is free market competition on open sourced coin.
  
This coin is scrypt coin, but it is special kind of scrypt that for ALL miners including non-ASIC miners.  There is nothing wrong if during low diff period, big ASIC miners are not dominant miners. This is a feature of this coin.

[DirkDunkirk]

Yes, that dominant miner most likely is a big CPU miners with very big CPU resources like gaming-level high end of PC or MacOS and mining NENG.  Historically there are only a few powerful CPU miners mining NENG and lack of miner competition means dominant of rewards.

No I do not believe this is failure of "randomSpike".  I do not have gamining PC.  If you want reward of NENG and you do and are willing to compete in mining NENG, yes, you will join the big miner reward on low diff period.  You can be this "unknown" miner if you want to be. Mining is free market competition on open sourced coin.
  
This coin is scrypt coin, but it is special kind of scrypt that for ALL miners including non-ASIC miners.  There is nothing wrong if during low diff period, big ASIC miners are not dominant miners. This is a feature of this coin.

Oh, more likely CPU not GPU? Interesting. Usually high end gaming PCs have good GPUs but not necessarily super expensive CPUs. Interesting feature of the coin. I will try mining with CPUs and see how it goes.

Thanks again for the replies!

[honglu69]

Yes, that dominant miner most likely is a big CPU miners with very big CPU resources like gaming-level high end of PC or MacOS and mining NENG.  Historically there are only a few powerful CPU miners mining NENG and lack of miner competition means dominant of rewards.

No I do not believe this is failure of "randomSpike".  I do not have gamining PC.  If you want reward of NENG and you do and are willing to compete in mining NENG, yes, you will join the big miner reward on low diff period.  You can be this "unknown" miner if you want to be. Mining is free market competition on open sourced coin.
  
This coin is scrypt coin, but it is special kind of scrypt that for ALL miners including non-ASIC miners.  There is nothing wrong if during low diff period, big ASIC miners are not dominant miners. This is a feature of this coin.

Oh, more likely CPU not GPU? Interesting. Usually high end gaming PCs have good GPUs but not necessarily super expensive CPUs. Interesting feature of the coin. I will try mining with CPUs and see how it goes.

Thanks again for the replies!

at low diff, this coin is more CPU than GPU just my guess.  miners do not disclose how they mined. But I heard from miners bits here and there from discord that knew that big CPU solo miners (or pool solo miners, either way) were into this coin at low diff.

At high diff, this coin is more of ASIC big rigs play just like litecoin/dogecoin.  In the middle ground, maybe USB ASIC play.  Here and there, android phone miners on "Cheetah_CPuminer" software platform solo miners will pick up full blocks on low % of rewards.  

I never heard of loud noise from GPU miners in the recently past. Certainly it is possible to mine from GPU side, I just do not know.  In early years of NewEnglandcoin solo mining (before the name change), GPU solo miners were very profitable on this coin at low diff fast reset. But time changed and algorithm changed on GPU side.

If you try yourself, make sure you mine on solo mode. Best if you can do home based solo wallet setup. The next best is solo mode at pool. The worst is shared mode at pool.

[honglu69]

Spike Block Mined at Height 5028038
A spike block at height 5028038 was mined at difficulty = 122k. Security mechanism of this coin is triggered and this 122k difficulty stay as regular difficulty for big ASIC rigs until next difficulty adjustment.
explorer for spike block mined:
http://nengexplorer.mooo.com:3001/block/91565c1c7825b366a2726fc692e9fb148cb91af29276908cb449e4a4e58d7ba4

[zanol21]

Hi admin

I downloaded and installed the NENG wallet,

At the bottom of the Network Traffic Page,

Synchronization duration is shown to be 5 years and 21 weeks,

Syncing is too slow,

Is there a way to make sync faster?

[honglu69]

Hi admin

I downloaded and installed the NENG wallet,

At the bottom of the Network Traffic Page,

Synchronization duration is shown to be 5 years and 21 weeks,

Syncing is too slow,

Is there a way to make sync faster?

Make sure you use the latest core version v2.3.0.  There are many nodes, you should sync within 1 day or 2 if connected with other peers.

If you do not like the full core node syncing speed, maybe not to use core,  instead, I recommend to use Komodo Wallet (Linux, windows, macOS, android, iOS) or electrum-NENG wallet. Both are light wallet and there is almost no syncing issue using either light wallet to hold NENG.

[zanol21]

I downloaded and installed NENG wallet from the following address:
https://github.com/ShorelineCrypto/nengcoin/releases

For faster syncing of NENG wallet,

Can you put the nod codes of this wallet here?

[honglu69]

I downloaded and installed NENG wallet from the following address:
https://github.com/ShorelineCrypto/nengcoin/releases

For faster syncing of NENG wallet,

Can you put the nod codes of this wallet here?

You can addnode in your conf file, and restart wallet. to add nodes, get from explorer:

http://nengexplorer.mooo.com:3001/network

click menu button "Add Nodes",  24 lines of add nodes will show up,  copy and paste those into your "nengcoin.conf" file at bottom, save and then restart full node.

No,  those nodes will not likely hard coded into core wallet.  There will be other method like I said about on conf files. The nodes are plenty, they change all the time.