hextobig
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Activity: 29
Merit: 1
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August 22, 2020, 02:46:29 PM |
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There is no need to stop big miners, his gains are in full proportion to his efforts.
There are still many essential differences between mining pools and large miners.
For example, in traditional POW, there are 10 nodes in the entire network, the 5 are solo, and the other 5 are alliances, then the chance of the alliance winner is not 5/10, but 27/32, which is much greater than 5/10 , this is the key to unfairness.
In our network, your chance of winning is always equal to the proportion of your contribution to the entire network.
In addition, since there is no profit advantage in cooperation, there will be no mining pools. In the end, there will be more large miners without alliance and some free small miners, and the system will be more decentralized, and thus more safety
I see your point of view: the nodes. Here is mine: the coins. Maybe you fixed the node problem pools have, but you have a new problem - all the coins goes now to a single owner, instead of multiple owners. This is why I've said is worst than traditional PoW, instead of a pool getting 50% of mined coins (which will be spread among all individual miners) now we have 1 miner getting 50% of the coins, but we are pool free. And not to be negligible, with this approach the scenario can go like this: Let's say I mine solo (because there are no pools involved) but since is not profitable for me because 1 single miner gets 50% of all block, I leave. So will do all the small miners, if is not profitable anymore and this will lead him to mine more and more blocks until probably he will mine 100% of the blocks. Now tell me, where is the decentralization? An immature idea, if the upper limit of the luck value is introduced, for example, if the luck value exceeds a certain value, blocks are not allowed to be produced by that miner, can it limit the unlimited expansion of large miners? |
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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MonsterV
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Activity: 2212
Merit: 1008
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August 23, 2020, 04:02:35 AM |
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feel free to join our discord and make your proposal public there for what the community thinks about it
if you arent already there lol
why do we need make a proposal public there? dev is not on discord server, he mostly active on this threads, why dont i suggest him to have the bounty and how to use the premine on this threads? its would help the threads getting bump and get more miners jump on this coin to, if are dev already on discord knock me, im leave discord server right after i know that the dev is not there. |
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Sherlock.Holmes (OP)
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Activity: 141
Merit: 41
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August 23, 2020, 08:55:52 AM |
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An immature idea, if the upper limit of the luck value is introduced, for example, if the luck value exceeds a certain value, blocks are not allowed to be produced by that miner, can it limit the unlimited expansion of large miners?
No, every independent machine with the same power has the same probability, this is the fairest. In fact, introducing an upper limit on the value of luck can't stop large miners. |
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Sherlock.Holmes (OP)
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Activity: 141
Merit: 41
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August 23, 2020, 09:00:34 AM |
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feel free to join our discord and make your proposal public there for what the community thinks about it
if you arent already there lol
why do we need make a proposal public there? dev is not on discord server, he mostly active on this threads, why dont i suggest him to have the bounty and how to use the premine on this threads? its would help the threads getting bump and get more miners jump on this coin to, if are dev already on discord knock me, im leave discord server right after i know that the dev is not there. We will handle premine very carefully. We will not do anything until there is a concrete feasible plan. |
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AllForOneA41
Copper Member
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Activity: 145
Merit: 0
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August 23, 2020, 10:41:49 AM |
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Sherlock, What You think about reward testnet miners? I'm not saying give big amounts of coins but for example, count testnet days period x cost of day mining and send to each miner Luck amount based on the current value to cover the cost of mining.
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cryptoneum
Jr. Member
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Activity: 59
Merit: 3
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August 23, 2020, 02:19:25 PM |
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How to use the remaining 298804-13200 = 285604, I want to hear your opinions, thank you
1 Direct destruction: The remaining tokens are directly transferred to 0x000000... address, this is the simplest and fairest way.
2 The community establishes reward rules, and the incentives who meet the conditions are certified by the community, then we are responsible for the distribution of incentives.
I don't agree with point 1 - to destroy the tokens. The tokens can be used to fund the development of the project. The fund can be used to pay services, team members, managers, marketers, etc. For example the services you mentioned above nodes, website, etc. This is my personal opinion. Cheers and good luck! I agree with this plan. |
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AllForOneA41
Copper Member
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Activity: 145
Merit: 0
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August 23, 2020, 04:40:39 PM |
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How to use the remaining 298804-13200 = 285604, I want to hear your opinions, thank you
1 Direct destruction: The remaining tokens are directly transferred to 0x000000... address, this is the simplest and fairest way.
2 The community establishes reward rules, and the incentives who meet the conditions are certified by the community, then we are responsible for the distribution of incentives.
I don't agree with point 1 - to destroy the tokens. The tokens can be used to fund the development of the project. The fund can be used to pay services, team members, managers, marketers, etc. For example the services you mentioned above nodes, website, etc. This is my personal opinion. Cheers and good luck! I agree with this plan. I also Like that Idea a loot of peoples already working for Luck in discord  |
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othell_rogue
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August 23, 2020, 04:59:26 PM |
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Looks like a lot of people are for the use of the coins instead of burning them.
But for the fairness of the proposal, I would suggest @Sherlock to make a poll, in this thread and invite all people from Discord and other communication channels to vote for it.
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To Buy, or not to Sell? That is the question.
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AllForOneA41
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August 23, 2020, 05:57:08 PM |
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Looks like a lot of people are for the use of the coins instead of burning them.
But for the fairness of the proposal, I would suggest @Sherlock to make a poll, in this thread and invite all people from Discord and other communication channels to vote for it.
I think Voting should take a place on discord |
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AllForOneA41
Copper Member
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August 23, 2020, 06:01:16 PM |
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Also I agree with burn If I can get payment for my seed nodes in advance I keep them because Im getting Payment in Luck for that
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wolfwolf
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Activity: 21
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August 25, 2020, 08:52:41 AM |
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are there anybody using advanced machines for mining, such as GPU/graphics card/ASIC. It's too hard to mine now. Can you please share what kind of machines you have? |
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vjudeu
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August 25, 2020, 12:41:34 PM |
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are there anybody using advanced machines for mining, such as GPU/graphics card/ASIC. It's too hard to mine now. It is typical for many CPU-based coins. When some new coin is introduced, its amount in circulation is quite small and that is why the first coins have quite high price when entering some exchange for the first time. Later, when there are more and more coins in circulation, the price usually drops. It is hard to mine, because there are not many coins, but many new miners. Also, there are people having a lot of CPU's and mining a lot of CPU-based coins at the same time. So if an algorithm on this coin is the same as an algorithm on another coin, it can be merge mined, so you can mine two such coins at the same time and consume similar power as mining only one coin. I think that few months later it will be easier to mine this coin, if it follows the same path as many other altcoins. Can you please share what kind of machines you have? One virtual machine using one core. For me, it is rather an experiment than something that can really became valuable coin in the future. I still think that winner-takes-all approach when mining blocks will finally cause pool pressure in the future. But maybe I am wrong and this coin will succeed? The time will reveal the truth, we can only mine new coins and experiment with the code trying to improve things. |
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jslv587
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August 25, 2020, 03:23:52 PM
Last edit: August 25, 2020, 04:03:06 PM by jslv587 |
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今天一个都没挖到
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stas333
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Activity: 15
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August 25, 2020, 04:10:58 PM |
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I think the premine needs to be burned in several stages. choose the day on which the burning of coins will occur, as well as the number. And if between the intervals of the burning stages, it will be necessary to give some kind of reward to the community member, or other costs, then the developers must explain for these transactions. I think that every week, for example on Friday, 20,000 coins should be burned. And until the entire premine is burned, the coin should not go to the exchange.
Any premine leads to depreciation and centralization. Anyone who knows that someone controls more than half of all mined coins will not trust this project. 300,000 premines is just a huge amount in which the reward itself is only 3 coins per minute, in addition, the developers have a constant income of 5% from mining, which should also stop at one of the blocks in a year or two. And I also said that if there are expenses for any activities, they must explain them and we must openly see what they are spent on. Therefore, the premine must be burned in several stages.
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MonsterV
Legendary
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Activity: 2212
Merit: 1008
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August 25, 2020, 05:23:43 PM |
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last day ive got about 3 luck by mining with my cpu, but today there is almost 24hrs since turn on my pc and no block are comming to my wallet, i wondering how much node already on space because i see on mining page some address get block very fast within a minute, dev do you have any idea to solved the problem? small miner like us who trying to mine this coin with 1 cpu is getting very difficults now, i feels like mining on a pools with less powers, so hard to getting block.
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vjudeu
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August 25, 2020, 05:26:07 PM |
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There is no need to burn anything. If the only problem is that developers can access premine instead of miners, it can be just moved to timelocked addresses that anyone can spent in the future. And if such coins should be accessible only by miners, it can be easily done by Miner Activated Soft Fork. However, such things probably will not be needed, because if something is sitting on address that anyone can spent, then literally anyone can spent it, including miners. And in such cases miners always will have an incentive to reject some user transaction spending these coins and mine their own transaction sending these coins to themselves.
To sum up: if the main problem is that a few developers hold a huge amount of coins now, it can be just send to many outputs with timelocks in the future, then it will not be possible to spend all of them now. If only timing matters, it can be sent to the same addresses, then just developers will spend it later. If it should be accessible by anyone, it can be sent to address that anyone can spent. If it is difficult or impossible to create such address, all that is needed is just using normal address and revealing its private key.
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stas333
Newbie
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August 25, 2020, 06:50:57 PM |
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There is no need to burn anything. If the only problem is that developers can access premine instead of miners, it can be just moved to timelocked addresses that anyone can spent in the future. And if such coins should be accessible only by miners, it can be easily done by Miner Activated Soft Fork. However, such things probably will not be needed, because if something is sitting on address that anyone can spent, then literally anyone can spent it, including miners. And in such cases miners always will have an incentive to reject some user transaction spending these coins and mine their own transaction sending these coins to themselves.
To sum up: if the main problem is that a few developers hold a huge amount of coins now, it can be just send to many outputs with timelocks in the future, then it will not be possible to spend all of them now. If only timing matters, it can be sent to the same addresses, then just developers will spend it later. If it should be accessible by anyone, it can be sent to address that anyone can spent. If it is difficult or impossible to create such address, all that is needed is just using normal address and revealing its private key.
Everything you've written is a theory that doesn't have any basis for when, what and how it will be done. We are talking about full trust not only of miners, but also of future users of this coin. No one will use the services of the project on dubious promises that the premine will be honestly used or shared. We are now talking about the economic and political component of the project. The premine must be burned in several stages before the coin goes to the exchange. In addition, constant donations of 5% for developers should also be stopped at a certain block, after which all rewards should remain only for miners. Only in this way will the project inspire complete trust on the part of any users, if it is truly unique. All coins that had a premine or endless donations from mining, after entering the exchange, suffered a fiasco, as well as 99% of tokens with a preliminary ico. |
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Sherlock.Holmes (OP)
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August 26, 2020, 06:10:52 AM
Last edit: August 26, 2020, 07:12:21 AM by Sherlock.Holmes |
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Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 50000 premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year
In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.
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MonsterV
Legendary
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Activity: 2212
Merit: 1008
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August 26, 2020, 06:43:04 AM |
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Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 5W premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year
In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.
have you every disccus with your community if they are agreed to burn the premine? im my opinion its would be good to use premine in good way than burn it on dead wallet which no one can spend it, rewarding community based what their contribution is the good ways to distribute the premine, also regard signature bounty that i propose you on DMs, please can you take a look? i can help you to make it happend and spreads the premine to the community, that would be good options to have more holder due hard to mine. |
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AllForOneA41
Copper Member
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Activity: 145
Merit: 0
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August 26, 2020, 06:45:59 AM |
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Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 5W premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year
In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.
That are great news mate I agree at 100% |
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