[ANN][THC] The Hempcoin (THC)

[89keys]

has this vps enough power to handle a hempcoin wallet?
on vps.me they offer this one for free.
I have not searched for hidden costs.
*there are no hidden costs 

 CPU:
0.6 Ghz
   
RAM:
384 MB
   
Disk space:
5 GB
   
Bandwidth:
10 GB


if this is enough for the wallet, which OS template should i choose?
   

[1713938645]

1713938645

[with the lemons!]

has this vps enough power to handle a hempcoin wallet?
on vps.me they offer this one for free.
I have not searched for hidden costs.
*there are no hidden costs 

 CPU:
0.6 Ghz
   
RAM:
384 MB
   
Disk space:
5 GB
   
Bandwidth:
10 GB


if this is enough for the wallet, which OS template should i choose?
   

Yes, it's enough for wallet, however for compiling you will have to create swap and compiling will take long time (30 mins I would guess).

As for OS, I would recommend Ubuntu 14.04 64bit

[89keys]

http://9gag.com/gag/aYp2mo2


any progress?

[with the lemons!]

http://9gag.com/gag/aYp2mo2

any progress?

I decided that best will be to port THC to NeoScrypt code.

[fartbags]

http://9gag.com/gag/aYp2mo2

any progress?

I decided that best will be to port THC to NeoScrypt code.

I like that idea also. Will this require a new block chain?

[bocyaj]

I also agree that neoscrypt is a good move.  My guess is that most people mining Hempcoin right now are renting anyways.

As for the reward schedule, I like the idea of fartbags proposal:

"
assuming 500,000 POW blocks a year I like:

5 years at 10 coins = 25,000,000
+
10 years at 5 coins = 25,000,000
+
20 years at 2.5 coins = 25,000,000
+
that leaves 70 more years at 1 coin block reward.
"

I agree this will take away from mining incentives for the short term, but it is a much better long term solution in my opinion.  To help the short term mining, maybe if we gradually lowered the reward over the next 3-6 months from current 125 down to 10 coins this would still leave some time for early adopters to grab come coins. 

1 month @ 75, 1 month @ 50, 1 month at 25, then onto 10 coins for 5 years and so on...

The coin amounts fartbags mentoined above are assuming all blocks are POW.... which will not be the case.  so we can take a quess and cut the coin amounts in half.

Heres' a schedule based on 50/50 POW/POS split block generation. ie 720 POW blocks a day.

1 month @ 75 coins = 1,620,000
+
1 month @ 50 coins = 1,080,000
+
1 month @ 25 coins = 540,000
+
5 years @ 10 coins = 13,140,000
+
10 years @ 5 coins = 13,140,000
+
20 years @ 2.5 conis = 13,140,000
=
42,660,000 POW coins over the next 35 years and 3 months.

Add this to the current supply of 151,190,000, we will have 193,850,000 coins.

This would then leave about 213 years of 1 coin reward blocks.  If we change the first 3 intervals to be 2 months each, 1 coin rewards would last 200 years....

Just brainstorming out loud here, but I like where we are going here.

And I completely forgot about the bonus blocks..... OOPS.
Factoring in the bonus blocks (mulitply by 1.68); 71,668,800 POW coins over the next 35 years and 3 months.  That leave about 103 years of 1 coin block rewards.

Thoughts, praise, criticism are greatly appreciated.

Thanks.

[with the lemons!]

http://9gag.com/gag/aYp2mo2

any progress?

I decided that best will be to port THC to NeoScrypt code.

I like that idea also. Will this require a new block chain?

No

[Halofire]

Algo change doesn't matter, in my opinion. Instead of asics, it's gpu farms. same problem, smaller scale.

Neoscrypt has done nothing to help the price except a quick few day jump for FTC, PXC or UFO.

On the flipside:
NLG is still on scrypt, embracing the ASICs, but they have an executable plan for everything and is why they are succeeding.

ASICS or gpu farms, doesn't matter. End result is people will end up buying what miners are dumping. THC needs more than just an algo change or fixed PoS. Fixing PoS is only giving people what they were promised, so that's not, in my opinion, anything exciting. THC needs adoption and the establishment of the connection of THC to hemp; and/or merchant adoption.

Just take that into consideration.

[with the lemons!]

Algo change doesn't matter, in my opinion. Instead of asics, it's gpu farms. same problem, smaller scale.

Neoscrypt has done nothing to help the price except a quick few day jump for FTC, PXC or UFO.

On the flipside:
NLG is still on scrypt, embracing the ASICs, but they have an executable plan for everything and is why they are succeeding.

ASICS or gpu farms, doesn't matter. End result is people will end up buying what miners are dumping. THC needs more than just an algo change or fixed PoS. Fixing PoS is only giving people what they were promised, so that's not, in my opinion, anything exciting. THC needs adoption and the establishment of the connection of THC to hemp; and/or merchant adoption.

Just take that into consideration.

Not exactly. ASICs cost lots of money. GPUs are much cheaper and everyone probably has one. Neoscrypt can be mined even on CPU. This allows everyone to start mining. I think that's great.

Yes, fixing POS is not too exciting, but it certainly has to be done.

I agree that HEMP needs connection to hemp and merchant adoption, however, I'm just developer of wallet, this is work for other people.

[Halofire]

Algo change doesn't matter, in my opinion. Instead of asics, it's gpu farms. same problem, smaller scale.

Neoscrypt has done nothing to help the price except a quick few day jump for FTC, PXC or UFO.

On the flipside:
NLG is still on scrypt, embracing the ASICs, but they have an executable plan for everything and is why they are succeeding.

ASICS or gpu farms, doesn't matter. End result is people will end up buying what miners are dumping. THC needs more than just an algo change or fixed PoS. Fixing PoS is only giving people what they were promised, so that's not, in my opinion, anything exciting. THC needs adoption and the establishment of the connection of THC to hemp; and/or merchant adoption.

Just take that into consideration.

Not exactly. ASICs cost lots of money. GPUs are much cheaper and everyone probably has one. Neoscrypt can be mined even on CPU. This allows everyone to start mining. I think that's great.

Yes, fixing POS is not too exciting, but it certainly has to be done.

I agree that HEMP needs connection to hemp and merchant adoption, however, I'm just developer of wallet, this is work for other people.

Gpu's are cheaper? If i bought 6 r9 290x's 8 months ago when I bought my Asic, it would have cost a little less for the gpu's plus rig components. By the way my asic is fried so I'm not mining at the moment.

Falcon = $4200 - $850 store credit
6 r9 290x = $3600 + mobo and chip @ $100 and ram $40 and psu x 2 @ $150+

[with the lemons!]

Algo change doesn't matter, in my opinion. Instead of asics, it's gpu farms. same problem, smaller scale.

Neoscrypt has done nothing to help the price except a quick few day jump for FTC, PXC or UFO.

On the flipside:
NLG is still on scrypt, embracing the ASICs, but they have an executable plan for everything and is why they are succeeding.

ASICS or gpu farms, doesn't matter. End result is people will end up buying what miners are dumping. THC needs more than just an algo change or fixed PoS. Fixing PoS is only giving people what they were promised, so that's not, in my opinion, anything exciting. THC needs adoption and the establishment of the connection of THC to hemp; and/or merchant adoption.

Just take that into consideration.

Not exactly. ASICs cost lots of money. GPUs are much cheaper and everyone probably has one. Neoscrypt can be mined even on CPU. This allows everyone to start mining. I think that's great.

Yes, fixing POS is not too exciting, but it certainly has to be done.

I agree that HEMP needs connection to hemp and merchant adoption, however, I'm just developer of wallet, this is work for other people.

Gpu's are cheaper? If i bought 6 r9 290x's 8 months ago when I bought my Asic, it would have cost a little less for the gpu's plus rig components. By the way my asic is fried so I'm not mining at the moment.

Falcon = $4200 - $850 store credit
6 r9 290x = $3600 + mobo and chip @ $100 and ram $40 and psu x 2 @ $150+

Yes, it is cheaper. You don't have to buy 6 most powerful cards on market, that was your choice. When I was mining, I was mining on 2 used 5850 cards and one new 280x.

And you really can mine on GPU in your computer if you want. That's not possible with ASIC algorithm.

[jm1978]

Any news? I hope there is 

[Halofire]

Algo change doesn't matter, in my opinion. Instead of asics, it's gpu farms. same problem, smaller scale.

Neoscrypt has done nothing to help the price except a quick few day jump for FTC, PXC or UFO.

On the flipside:
NLG is still on scrypt, embracing the ASICs, but they have an executable plan for everything and is why they are succeeding.

ASICS or gpu farms, doesn't matter. End result is people will end up buying what miners are dumping. THC needs more than just an algo change or fixed PoS. Fixing PoS is only giving people what they were promised, so that's not, in my opinion, anything exciting. THC needs adoption and the establishment of the connection of THC to hemp; and/or merchant adoption.

Just take that into consideration.

Not exactly. ASICs cost lots of money. GPUs are much cheaper and everyone probably has one. Neoscrypt can be mined even on CPU. This allows everyone to start mining. I think that's great.

Yes, fixing POS is not too exciting, but it certainly has to be done.

I agree that HEMP needs connection to hemp and merchant adoption, however, I'm just developer of wallet, this is work for other people.

Gpu's are cheaper? If i bought 6 r9 290x's 8 months ago when I bought my Asic, it would have cost a little less for the gpu's plus rig components. By the way my asic is fried so I'm not mining at the moment.

Falcon = $4200 - $850 store credit
6 r9 290x = $3600 + mobo and chip @ $100 and ram $40 and psu x 2 @ $150+

Yes, it is cheaper. You don't have to buy 6 most powerful cards on market, that was your choice. When I was mining, I was mining on 2 used 5850 cards and one new 280x.

And you really can mine on GPU in your computer if you want. That's not possible with ASIC algorithm.

I was comparing asic to one gpu farm rig. I don't have those cards. I have a 270x. And it is possible to mine with gpu on any asic algo, it's just not efficient.

[89keys]

Any news? I hope there is 

I decided that best will be to port THC to NeoScrypt code.

[compmaster]

NeoScrypt will probably bring more people to the coin. It won't have an amazing effect and make the coin worth 100,000 sat but it might grow the community size. Does anyone here own an ASICs? I own 280x cards and would mine THC again if it was NeoScrypt. Overall I think this will work out well.

[jm1978]

NeoScript??? Like FTC? Why not just fixing the wallet staking problem and thats it for now? And later maybe Neoscript... anyway FTC since then is going down in price so... How i see it there is just delay and "blablabla", nothing more. Very dissapointed and please dont say it is FUD because i support THC since the begining, i made the video animated that u can see in the OP... my old account was jmsr1978

[89keys]

NeoScript??? Like FTC? Why not just fixing the wallet staking problem and thats it for now? And later maybe Neoscript... anyway FTC since then is going down in price so... How i see it there is just delay and "blablabla", nothing more. Very dissapointed and please dont say it is FUD because i support THC since the begining, i made the video animated that u can see in the OP... my old account was jmsr1978

why are you dissapointed...?

with the lemons is working on this!
and he is doing it for free...or did you paid him?

so dont be dissapointed and wait.

i think update will come with the block halving ~01.03.15 (DD/MM/YY) maybe before maybe after...

if you want to have working pos now -> fix it yourself!

i like to wait for a new nice looking wallet with new features and not just the pos thing.

[Halofire]

NeoScript??? Like FTC? Why not just fixing the wallet staking problem and thats it for now? And later maybe Neoscript... anyway FTC since then is going down in price so... How i see it there is just delay and "blablabla", nothing more. Very dissapointed and please dont say it is FUD because i support THC since the begining, i made the video animated that u can see in the OP... my old account was jmsr1978

This is what I meant when I said Neoscrypt did nothing to help the price in FTC, PXC and UFO. I should have elaborated and said the price kept on their downward trends after the neo switch. So for me that's proof enough that for 3 coins with the algo has shown us THC's path if we switch. It's not about the algo, it's about adoption. Algo switch is like buying a gasoline car or a diesel car from the fuel economy point of view. Not talking about other things like diesel engines last longer, etc etc.

Algo switch would be good IF MP's were all over this coin and lemons didn't want to try and combat the MP's, but they aren't. Hell, there's only a few people mining at this time.

We don't need our DIRECT goal to be more miners. Network only needs 1 miner to keep the chain moving. We need adoption. Miners will come with adoption as THC gains popularity. Adoption will bring more people willing to buy THC, and will absorb any dumping. Adoption adoption adoption!

[with the lemons!]

NeoScript??? Like FTC? Why not just fixing the wallet staking problem and thats it for now? And later maybe Neoscript... anyway FTC since then is going down in price so... How i see it there is just delay and "blablabla", nothing more. Very dissapointed and please dont say it is FUD because i support THC since the begining, i made the video animated that u can see in the OP... my old account was jmsr1978

This is what I meant when I said Neoscrypt did nothing to help the price in FTC, PXC and UFO. I should have elaborated and said the price kept on their downward trends after the neo switch. So for me that's proof enough that for 3 coins with the algo has shown us THC's path if we switch. It's not about the algo, it's about adoption. Algo switch is like buying a gasoline car or a diesel car from the fuel economy point of view. Not talking about other things like diesel engines last longer, etc etc.

Algo switch would be good IF MP's were all over this coin and lemons didn't want to try and combat the MP's, but they aren't. Hell, there's only a few people mining at this time.

We don't need our DIRECT goal to be more miners. Network only needs 1 miner to keep the chain moving. We need adoption. Miners will come with adoption as THC gains popularity. Adoption will bring more people willing to buy THC, and will absorb any dumping. Adoption adoption adoption!

Adoption is the key, sure. But as I said, I'm just developer, it's not like I can add line like "int64 nAdoption = 90000;" and BAM, instant adoption.

If you want to help somehow, go ahead!

[Halofire]

The adoption thing is not directed towards you, lemons. I understand your position. But the algo switch convo is directed to you.