[ANN] Mjollnircoin - MNR - Ultra-secure, Fast Transactions & ASIC resistant

[zedicus]

1714!!! NEXT 

We are 75th!! 


 Vote for MNR!! 
https://www.mintpal.com/voting

[1713264344]

1713264344

[1713264344]

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[Soul_eater_123]

I want to run something by the community.

What would you guys think of doing something on a temp basis to generate funds.   What I was thinking is to increase the block reward by X amount for Y time.  The extra X per block would go into a separate wallet address used for a specific purpose (similar to the donation "vault").  For example Bittrex will add a coin for 1 BTC.  So if we could generate the 1 BTC worth of MNR we could get onto a popular good exchange that a lot of people use.

This would surely help the value of MNR as it would put us on an exchange that has a good deal of volume.

Now I don't know how this would work from a technical standpoint but we could either spread out the "extra" mnr on a series of blocks or just have a super block.  I don't know if this could be done behind the scenes or if a new wallet would need to be released. 

mjollnircoin, can you comment on the technical details needed to do something like this?

It's possible we could want to "generate" 2 or 3 btc worth of coins this way which could be used for some bounties or to run some contests.  I'd leave this up to the community to decide and we can surely discuss it.

Any coins generated via a superblock or over Y time could just simply be removed from the end of life mining of the coin.  I personally think a few thousand coins generated soon could be worth a whole lot more to the value of the coin (ie if used to get on a good exchange) then holding them to the end.

We have an exchange problem for sure right now which is hurting us in both growth and value.  We really don't need to be on MintPal.com but Bittrex.com and Poloniox.com would do us wonders!

To be honest I wouldn't mind seeing a small "superblock" per week that is say 5 times the normal value.  This would go into the "vault" and could be used for contests and other cool things the community could think up to generate more interest.  I'm sure this type of thing if thought out could help us tremendously right now in the short term.  The end result is that we would get done mining ever so slightly earlier as we would run out of coins sooner.  Again this could be done for only a short period of time to help generate needed funds for things mentioned above.

What do you guys think assuming it can be done?

Carlo

That's a terrible idea.  It will destabilise and devalue the coin by increasing the coin supply.

[cayars]

That's a terrible idea.  It will destabilise and devalue the coin by increasing the coin supply.

Total coins would not change.  Only a few minted ahead of schedule is all.

Couldn't really devalue the coin since it has almost no value due to not being on any exchange with volume that people use.

Just getting it onto an exchange that matters will add value.

[Soul_eater_123]

That's a terrible idea.  It will destabilise and devalue the coin by increasing the coin supply.

Total coins would not change.  Only a few minted ahead of schedule is all.

Couldn't really devalue the coin since it has almost no value due to not being on any exchange with volume that people use.

Just getting it onto an exchange that matters will add value.

OK I misunderstood.

[braxx]

People like this coin, I hope you submit information on this website, take a minute of your time.
https://poloniex.com/coinRequest

Thanks, but there is a coin request filled in already, waiting for an answer

not on the list
https://poloniex.com/voting

[cayars]

OK I misunderstood.

My "plan/idea" that I was throwing out could basically be summed up as "stealing" coins from the end of minting to use for a specific purpose soon.  The main thing I'd like to see happen is for us to get on Bittrex.  No additional coins would be minted.  HOWEVER, some coins would not be available for mining as they would become part of the super block or as mjollnircoin suggested the name "vaulted block".  Basically coins stolen from the end of time to be used now for some purpose approved by the community.

I suggested Bittrex because it's a solid medium size exchange that WORKS and has very good volume.  This exchange is used by many different sites.  If you go to coinwarz.com or whatmine.com you would see them being reported here for each coin.  Many "smaller" coins buy their way onto this exchange.  Unfortunately I think I "talked" the dev out of having a premine here in the forum, that could have had the funds available for this (my bad).  However, at the time, right before this coin's launch, a lot of "scams" just went down for new coins with premines and the very term "premine" or "IPO" wasn't sitting well with a lot of people who just got burnt.

I still think it was best to drop the premine at coin launch, but now, we essentially have no "funds" to do things like buy our way onto exchanges (like tons of coins do).  This is essentially a COMMUNITY COIN by almost every definition. So I would assume nothing would be done without community approval.  I was just throwing out an idea I had, good or bad to get feedback.

While this might seem like short notice mjollnircoin and I are going to discuss this idea on IRC at 11pm EST tonight to flush out the good and bad points of it and maybe what it would take to implement.  We would both welcome EVERYONE to drop into the #MNRCOIN chat channel. See OP message for IRC details.  The more the merrier on IRC. I'm sure I can speak for both of us by saying that the more people who are involved with the community/ideas of this coin the better.

MNR, doesn't show up on the radar of a lot sites because it isn't using X11 or X13. It's not the new "cool" coin to mine/dump. It's not on any medium/large exchanges. Many coins would die under such pressure but MNR survives. This is good for us! As summer approaches in many areas we will do well due to low heat.  People/companies are working on ASIC X11 and X13 algos.  When this happens people will switch their GPUs to an algo who aren't ASIC. By the time Hefty shows up on the "radar" screen of ASIC devs we will already be doing well and if you have been holding....

So anyway, in about 2 hour join us in IRC.

not on the list
https://poloniex.com/voting

Multiple people have contacted them.

[Soul_eater_123]

Sorry I missed the chat but was early hours of the morning here.  Any decision then?  I have sent 5000 coins to the vault if it helps.  Would be great to get MNR moving:)

[mjollnircoin]

Sorry I missed the chat but was early hours of the morning here.  Any decision then?  I have sent 5000 coins to the vault if it helps.  Would be great to get MNR moving:)

Sorry, I too was not able to make it.

It will need to be re-scheduled, tonight at 23:00 CEST (which is 5:00 pm EST )  ?

[cayars]

I'm not going to be around at all tonight.  Tomorrow perhaps?  PS I'm communing home from 5:30 to 7pm so it will need to be 7pm or later for me.  EST

Carlo

[mjollnircoin]

I'm not going to be around at all tonight.  Tomorrow perhaps?  PS I'm communing home from 5:30 to 7pm so it will need to be 7pm or later for me.  EST

Carlo

Alright, that is 1:00 AM CEST , late but still good.

Meeting #MNRCOIN at 1:00 AM CEST 7/11/2014

[braxx]

MNR, doesn't show up on the radar of a lot sites because it isn't using X11 or X13. It's not the new "cool" coin to mine/dump. It's not on any medium/large exchanges. Many coins would die under such pressure but MNR survives. This is good for us! As summer approaches in many areas we will do well due to low heat.  People/companies are working on ASIC X11 and X13 algos.  When this happens people will switch their GPUs to an algo who aren't ASIC. By the time Hefty shows up on the "radar" screen of ASIC devs we will already be doing well and if you have been holding....

remember hefty1 algo is still very ASIC and FPGA resistant...

link from some time ago in heavycoin thread:

https://bitcointalk.org/index.php?topic=506774.msg6037372#msg6037372

According to the FPGA testing,HVC which use HEFTY1 algorithm is the real ASIC-resist coin!

Yes, where is this test. Would be very beneficial information if its true......


Edit: I found this on zhpool homepage. @zhpool, can you guys share the results of this project with the HVC communtiy?

1. Several experts believe HeavyCoin will be extremely hard for ASIC(harder than LiteCoin) or FPGA implementation(we have already completed FPGA implementation days ago, but... too slow... we kill that project), that means HVC will be GPU only for quit a long time, referring LiteCoin, HeavyCoin will have a great future.

Yes, sir, I would tell what I could.

Several experts?
Yes, these experts finished LTC ASIC lately, and have finished nearly all FPGA for all altcoins, including heavycoin.

We have finished HVC FPGA implementation?
yes, within 1 week since HeavyCoin launch.

too slow... we kill that project?
yes, too slow, good news for GPU miners, AMD 7970 run at 20M, FPGA run less than 200K. We will not continue FPGA optimization any more. HVC is the only one hurt the experts, badly, "keccak512 is genius" -- they said.

[zedicus]

Lets get spot #75 back!!

1829! Next!!!  


Go vote for MNR!
https://www.mintpal.com/voting

[cayars]

IRC channel in 15 minutes.

[zedicus]

What i miss... I was watching the NBA Playoff's.. got the notification too late.

[mjollnircoin]

Mjollnircoin Meeting results of 12th June, 2014 #MNRCOIN @FreeNode IRC

During the Mjollnircoin meeting we discussed Cayar's idea to generate funding to get us to Bittrex Exchange (Bittrex will take us for 1.0 BTC)

The basic idea is to generate "Vault blocks": blocks with a high reward that are immediateley payed to the Mjollnircoin Vault when mined. Once the block is payed to the Vault, it will be auctioned and the highest bidder wins the vaulted block which is then payed out to the winner either directly or through an Escrow Service. The assumption here is, that when Mjollnircoin hits the Bittrex Exchange the value goes go up (which would then not be a bad investment)

The reward of such a vaulted block should be high enough to make it worthwhile and the starting bid should be such that we only need a scarse number of
these blocks (perhaps as few as 10, with a reward of 25.000 MNR for example).  

Obvisoubly, everything MUST be in the open of course (transparent and verifiable accounting records)

The benefits are:

• Vault blocks will help increase interest
• We have a decent chance of getting onto Bittrex

What is not set in stone yet:

• Exact step by step process of the Auction and its rules (must be verifiable)
• Exact number of Vault blocks and frequency of release
• Exact block reward of a vault block
• Miner reward for mining vault block
• Starting bid price in BTC

Total coin supply is not affected (but it reduces end of mining-life for Mjollnircoin by a number of days)

Prerequisite:

• Community Approval (Poll acceptable or does it require a voting system?)

So, it would be most excellent if we can all discuss this idea to find out if its a good idea or not (it could be the worst of all ideas! we need your thoughts!)
The next couple of weeks we would learn how the feedback is and decide from there.

[Soul_eater_123]

Let's just do it and get things moving because nothing is happening otherwise.

[griffinriz]

Let's just do it and get things moving because nothing is happening otherwise.

I agree, No need for voting do it fast whatever is good for coin and community, things need to get faster.

[mjollnircoin]

Let's just do it and get things moving because nothing is happening otherwise.

I agree, No need for voting do it fast whatever is good for coin and community, things need to get faster.

Testnet implementation will be done soon enough and in a couple of days we can set a release date (if there are no real objections against the proposal)

[Soul_eater_123]

Great let's get it moving as soon as possible.  Maybe use the current contents of the vault too.  I've already donated 5000 a couple of days ago.  Maybe others can donate some and we might be able to accelerate things. 

[Soul_eater_123]

In actual fact if there is enough in the vault now - I'd be happy for it to be auctioned off as per the plan with special blocks.