[ANN] Scam Coin ~ New AdamSmith algorithm for GPU and ASICs ~ 5 Days for raffle

https://i.imgur.com/7XA5p0y.png

Its finally here bitches!!
Kiss

   https://i.imgur.com/FOGtevE.png Newbie Account for Dev: Check

   https://i.imgur.com/FOGtevE.png Frankenstein Broken English Sockpuppets (Minimum 3): Check

   https://i.imgur.com/sAp191I.png Hire Professional clingy Sockpuppets: In progress…scanning through resumes.

   https://i.imgur.com/FOGtevE.png Long winded IPO: Check

   https://i.imgur.com/FOGtevE.png Grand Claims: Check

   https://i.imgur.com/FOGtevE.png Now-you-have-my-attention-gentlemen Headline: Check

Ok so you're here for more info and I can dig that. I've got a new algo going and plan on making some money out of it before the copycats and Country/city/village coins do. This would be the first and hopefully bring the war between GPU and ASICS to an end. I'm also not releasing the source for the first one week, so essentially its going to be a Windows only miner for a week before the linux/mac builds come about. Subsequently there will also be no pools or exchanges for the first week. So just solo mining before the pools and exchanges come in. You can call it a "soft launch" if you want. All details below in the FAQ.

Here's the lowdown https://i.imgur.com/BsBcWTi.png style!!

Algorithm : AdamSmith (Details below)
Miner : Scam Miner with Firefox/Chrome/IE with the latest Java installed (Details Below) Huh

Block Time : Who cares?
Scams per Block : 474
Halving : Meh Cool

Total coins : Lots of them… who cares?
Premine : 5.75 Million Scams (1%) Grin

IPO : But of course!! See FAQ
Translation Bounties : Pfft… yeah right! Roll Eyes

Other Bounties : See FAQ
Soft launch : 13th May 2014 Tongue

F.A.Q

https://i.imgur.com/19W0RVL.png WTF is AdamSmith?

The name is homage to the dude. The algo is best summed up as X11 and ASICS shaking hands after exchanging a briefcase in a hotel room.

To mine, you will need scam miner…. which is a modification of the darkcoin enabled sgminer. For the GPU miner, what you will get is hash rates and lower temperatures like you would get with the x11 algo. You can just copy paste the conf/bin file that you use with your current x11 miner and change the "kernel" value to AdamSmith and you are good to go. Additionally it will require a browser running in the background with the latest version of the java plug-in installed (your system default will load up).

Its crude, but its robust and works. I have tried it on Firefox, Chrome and IE. If you have some obscure browser with Krusty the clown skin on, it should still work too as long as it supports Java.

Now this is not exactly ASIC resistant…. I don't believe bitcoin got to where it is without the ASICs power. However, a majority of the miners do not have ASICs and I believe ASICs need to take over after it is deemed not worth it to mine with GPU. Think of it as a transition with people digging a hole at first. Its all well and good till a certain depth… till it reaches a depth where humans going up and down is simply inefficient and its time to send in the heavy artillery… and leave it to the big boys of ASICs to take over.

With the AdamSmith algo, ASICs will get a relatively much lower hash rate as opposed to to GPUs. The ratio is akin to comparing the hash rates of X11 with Scrypt-n. What can get you 20 MH/s on GPU will get you about 3MH/s on ASICs. Runs fine on a small gridseed farm except for the occasional crash. But that's more due to its shitty firmware than anything to do with the algo.

I will post the link to the custom miner 2 hours before launch (double password protected in a zip file). The passwords will be updated on the OP on 13th May 2014 21:00 GMT (Launch time). IPO submissions will close 5 hours before launch. Countdown for everything will be in the OP soon.

https://i.imgur.com/19W0RVL.png Yaaaawnn…. Wall of text!
Get to the juicy IPO man. What and how much?

The IPO is going to be a bit long winded foreplay with a hint of a ponzi excitement thrown in as well. It is scam coin after all!! Here is the plan. All amounts above 0.01 BTC will be considered for the IPO. The amount you put in will get you a proportional amount of Scams from the premine. Every 5 days, 20% of the BTC collection from those 5 days will be returned to 5 randomly chosen investors. Here's an example:

Round 1
Investor 01 - 0.02 BTC
Investor 02 - 0.05 BTC
Investor 03 - 0.20 BTC
Investor 04 - 0.06 BTC

So that's a total of 0.33 BTC. 20% of that will be 0.066 BTC. Since there are only 4 investors here, all of them will get an equal .0165 BTC

Round 2 (5 days after Round 01)
Investor 05 - 0.02 BTC
Investor 06 - 1.05 BTC
Investor 07 - 0.10 BTC
Investor 08 - 0.06 BTC
Investor 09 - 0.05 BTC
Investor 10 - 0.09 BTC
Investor 11 - 0.20 BTC

So that makes it 1.57 BTC from these seven new investors. 20% of that makes it 0.314 BTC. Now 5 people will randomly be chosen from ALL the 11 investors (not just the new 7 investors), and each will get 0.314/5 = 0.628 BTC.

Round 3, 4, 5, etc will be similar to Round 2 and will follow through till the IPO closes. As a bonus, the last IPO round will be 50% instead of the regular 20%. I will update the investors list every five days as well as the newly calculated percentages of the amount of Scams you will be getting in returns.

https://i.imgur.com/19W0RVL.png Quit fucking around. What's the coin stats?

Algorithm: AdamSmith
Miner : Scam Miner with Firefox/Chrome/IE with the latest Java installed
Block Time : 1 min
Scams per Block : 475
Halving : 1 Year
Total coins : 575 Million
Premine : 5.75 Million Scams (1%)
DWG

https://i.imgur.com/19W0RVL.png Escrow?

Of course NOT. Because Scam Coin… like bacon…. because bacon!!

https://i.imgur.com/Cm3W87C.png

https://i.imgur.com/19W0RVL.png Whitepaper?

Naah… don't need 'em.

https://i.imgur.com/19W0RVL.png You kow there's already a failure called Scam Coin right?

Never heard of it. Must not exist then Tongue

https://i.imgur.com/19W0RVL.png Why 13th May?

Coz that's my baby's birthday! Get it? …baby… birthday… no? Angry

https://i.imgur.com/19W0RVL.png What if you run away with the money?

Then I will assure you that I will upload pics from my vacation to India and with the leftovers, I will get myself a big ass TV. I also have puppets to feed Cheesy

https://i.imgur.com/19W0RVL.png Bounties?
Pool people, exchange people, block explorer people, Android people, Mac wallet people… All PM me with your best offers after the soft launch. All those who PM me before the soft launch will be put on the Grudge list™ and will be given last priority. The only exceptions are logo designers. If you think you can make a better one than this awesome awe inspiring Picasso-Monnet hybrid of a logo, there's a 0.1 BTC bounty for the inner child in you. Post your shit directly on the comments for all to see. If they're any good, I might also tap into that skill set of yours for a custom UI for the wallet.

https://i.imgur.com/19W0RVL.png Anything Else?

Nope… that about sums it up. But this list is not exhaustive. As and when questions arise in the comments and if there are funny answers worthy of being on the OP, it shall be given knighthood and put up in the OP Hall of Fame!

https://i.imgur.com/19W0RVL.png Shut up and take my money!!

Sure… this is where you send it to: 12WNe9szum8ZEcKjVZTGSYywJ6UWhPY5Ur (BLOCKCHAIN)
After that you send me a PM with the following info.

***
Bitcointalk Username:
Transaction ID:
IPO Amount:
BTC Receive address:
***

Please copy/paste the above. The three "***" above and below the text is a must. The info is automated and those without the stars will slip by me. The return address is for incase you were picked as one of the winners for the 20%. Also please don't overcomplicate things by sending full 8 decimals of numbers. I prefer 0.03 instead of 0.03028548. The "IPO amount" in the copy/paste is just for my convenience and the actual amount for calculations will be taken from the block chain. So don't try tricking me by sending me 0.03 and typing 0.05 in there. If you do that, you will incur Samuel L Jackson's wrath and Fuuuuurrrious Anger and indeed know his name. In addition to that you will be in the Grudge list™ and be disqualified from the random pick of winners. The share of scams will still be there of course (see… I'm not a complete arsehole Wink

)

https://i.imgur.com/npgjO1e.png

IPO RESULTS SO FAR

https://i.imgur.com/ndOxwaY.jpg

Only one fellow sent in Round one, so it was quite a difficult decision to pick the winner Cheesy

BTC Sent: BLOCKCHAIN