[ANN][JPC]MAKE JACKPOTCOIN GREAT AGAIN!

[liomojo1]

I think that if the jackpot is made only for pos blocks , many people will have wallets up and runnig and everybody will have a better chance to win it , no matter what hashrate he have. And the pools will not overload.

[bspus]

Maybe there needs to be some kind of cooldown on the same pool winning again for a certain number of blocks in order to get the miners to spread back out.

But how this be implemented even in theory?
If a block is found by a member of a pool its is found by that pool. There is no way around it. The algorithm and target hash cannot and should not care about pools
And if we could control in a any way what each pool finds that would mean a lot of bad things in different ways

[liomojo1]

Only way is 100% jackpot goes to finder , that will scatter people from only one pool.

[miningpoolhub]

Only way is 100% jackpot goes to finder , that will scatter people from only one pool.

I agree.
I would like to switch mining pool hub to this rule.

Is there anyone who don't like this rule?
Tell me your thinkings.

[miningpoolhub]

I think that if the jackpot is made only for pos blocks , many people will have wallets up and runnig and everybody will have a better chance to win it , no matter what hashrate he have. And the pools will not overload.

I think it's really good idea.
This will enhance the network, distribute coins not according to hash power.

Even one little cpu can join and win the prize.

Maybe some of them would run 100 wallets on one machine but nevertheless it looks good.
Actually running 100 wallets are nearly impossible 
CPU suffers a lot, harddisk blockchain storage needs x100, network bandwidth is limited.
As wallets will increase, probability will decrease much also.
I don't think anyone will run wallet like this for one month not receiving any jackpot.
They will give up soon.

In this way, it is real luck, unexpected jackpot for whom just run one wallet everyday life.

How about hardfork to this jackpot rule?
I really like this idea.

[nomad1109]

In this way, it is real luck, unexpected jackpot for whom just run one wallet everyday life.

Not to mention that those who BUY the coin would also be eligible to win a PoS Jackpot, where only miners really have any chance of winning now I believe.

I do like this idea as well for promoting people to hold their coins and not dump as well...

[nomad1109]

Maybe there needs to be some kind of cooldown on the same pool winning again for a certain number of blocks in order to get the miners to spread back out.

But how this be implemented even in theory?
If a block is found by a member of a pool its is found by that pool. There is no way around it. The algorithm and target hash cannot and should not care about pools
And if we could control in a any way what each pool finds that would mean a lot of bad things in different ways

Right now the jackpot block is determined by the 'next block found' and that has no guarantee of being from the same pool, so there must be a way to put this in the coin operations that would exclude a payout address from winning... and if their number was drawn in that next XXXX blocks they are on cooldown, the payout is skipped, or maybe even awarded to the next block recipient that is not that same address.

My thoughts are that basing the cooldown on the jackpot last won would not make it so severe when the smaller jackpots get awarded for just a few million coins. The cooldown would be over before any significant number of coins were to accumulate in the next jackpot and they would be eligible again.

Also passing the winning jackpot on to the very next block that is eligible would make sure it gets paid out, rather than just keeping 50% of the hash in that pool, and actually just delaying the payout longer which would possibly get them eligible again to win it after their cooldown.

On the other aspects of adjusted payouts being possible, after putting a little more thought to this I think it sounds plausible to do it this way as well....

I am shooting from the hip here on technical knowledge of the coin backend, so forgive me if I am way off on my assumptions...

I imagine that the 'pool' is the one submitting the hashes from all the miners, and although the 'coin' can't tell the difference between a pool or an individual miner, it is only their total hashrate that would need to be used to determine if there is too much of a percentage of the total hashrate coming from that pool/person.

I also see that variable block rewards have been implemented in Heavycoin based on user voting, so there would have to be a way to change that block reward paid out as well...I don't know the details, but let's call it a penalty/bonus.

So HighHasratePool.com is pumping 45% of the total hashrate for the coin from their site, and any block they find would then have the payout reduced by 12% (1% peanlty for each 1% over the 33% limit). This fine is then collected from that block and paid out as a reward to all the other  pools/miners as a small reward just like the PoS payouts come now on JPC.

It seems possible to me as an outsider of the coin dev world. The formula and all that would take extensive thought and coding to implement, but would certainly reward people with actual coins who were not participating in the oversized pool, while lowering the actual block payouts for those who still were there.

People would move pretty quick for the higher payouts elsewhere if they were anywhere near the 10% level... so you would never have a pool get close to 43% I would think.

I think this is a good conversation to have though, and I see it has generated a lot of ideas and interest already... so thanks to all for devoting some brain cycles to it as well

[chopper873]

I like the idea of the little guys getting a good chance of winning an unexpected jackpot.

[SolidStateSurvivor]

I think that if the jackpot is made only for pos blocks , many people will have wallets up and runnig and everybody will have a better chance to win it , no matter what hashrate he have. And the pools will not overload.

Yeah, I agree with this too, that is the way to go.

[nomad1109]

Is everyone just lining up over at AllCrypt.com to sell for 3 Satoshi because they feel like they are going to be getting a good deal?

Someone is buying up another 60 million coins at 2sat, but I don't understand the 40 million that are available at 3sat now.

Some guys throwing 5-10 BTC at that low buying mark are going to get PAID if this coin ever gets off the ground floor.

To me it is well worth the risk to sit on the amount I have and see if it moves over time compared to taking a $40 payout today.

Maybe that is just me...

[cords51]

Only 1 sat buy orders on sharex now

[valley365]

I think that if the jackpot is made only for pos blocks , many people will have wallets up and runnig and everybody will have a better chance to win it , no matter what hashrate he have. And the pools will not overload.

I think it's really good idea.
This will enhance the network, distribute coins not according to hash power.

Even one little cpu can join and win the prize.

Maybe some of them would run 100 wallets on one machine but nevertheless it looks good.
Actually running 100 wallets are nearly impossible 
CPU suffers a lot, harddisk blockchain storage needs x100, network bandwidth is limited.
As wallets will increase, probability will decrease much also.
I don't think anyone will run wallet like this for one month not receiving any jackpot.
They will give up soon.

In this way, it is real luck, unexpected jackpot for whom just run one wallet everyday life.

How about hardfork to this jackpot rule?
I really like this idea.

Nope, jackpot is only for PoW blocks, not for PoS blocks. PoS are simply interests, it does not have superblocks.

[valley365]

Maybe there needs to be some kind of cooldown on the same pool winning again for a certain number of blocks in order to get the miners to spread back out.

But how this be implemented even in theory?
If a block is found by a member of a pool its is found by that pool. There is no way around it. The algorithm and target hash cannot and should not care about pools
And if we could control in a any way what each pool finds that would mean a lot of bad things in different ways

Right now the jackpot block is determined by the 'next block found' and that has no guarantee of being from the same pool, so there must be a way to put this in the coin operations that would exclude a payout address from winning... and if their number was drawn in that next XXXX blocks they are on cooldown, the payout is skipped, or maybe even awarded to the next block recipient that is not that same address.

My thoughts are that basing the cooldown on the jackpot last won would not make it so severe when the smaller jackpots get awarded for just a few million coins. The cooldown would be over before any significant number of coins were to accumulate in the next jackpot and they would be eligible again.

Also passing the winning jackpot on to the very next block that is eligible would make sure it gets paid out, rather than just keeping 50% of the hash in that pool, and actually just delaying the payout longer which would possibly get them eligible again to win it after their cooldown.

On the other aspects of adjusted payouts being possible, after putting a little more thought to this I think it sounds plausible to do it this way as well....

I am shooting from the hip here on technical knowledge of the coin backend, so forgive me if I am way off on my assumptions...

I imagine that the 'pool' is the one submitting the hashes from all the miners, and although the 'coin' can't tell the difference between a pool or an individual miner, it is only their total hashrate that would need to be used to determine if there is too much of a percentage of the total hashrate coming from that pool/person.

I also see that variable block rewards have been implemented in Heavycoin based on user voting, so there would have to be a way to change that block reward paid out as well...I don't know the details, but let's call it a penalty/bonus.

So HighHasratePool.com is pumping 45% of the total hashrate for the coin from their site, and any block they find would then have the payout reduced by 12% (1% peanlty for each 1% over the 33% limit). This fine is then collected from that block and paid out as a reward to all the other  pools/miners as a small reward just like the PoS payouts come now on JPC.

It seems possible to me as an outsider of the coin dev world. The formula and all that would take extensive thought and coding to implement, but would certainly reward people with actual coins who were not participating in the oversized pool, while lowering the actual block payouts for those who still were there.

People would move pretty quick for the higher payouts elsewhere if they were anywhere near the 10% level... so you would never have a pool get close to 43% I would think.

I think this is a good conversation to have though, and I see it has generated a lot of ideas and interest already... so thanks to all for devoting some brain cycles to it as well

Guys, the jackpot is just like the real lottory, you buy lottory tickets (= hashpower). The more tickets you have, the better chance you will get. It's like rich people buy a lot tickets (mining pools), they get better chances. But still everyone has a chance. So small people can try and expect too, byut the chance will be lower. The jackpot functions exactly like the lottory.

and this post
https://bitcointalk.org/index.php?topic=584481.msg6543283#msg6543283
describes how exactly the "true randomness" work. This is very different from the previous pseudo-random, the multipool or those with big hashpower can no longer cheat from it.

[crypto-dude]

This is a really good coin

[goodluck0319]

good coin but no one will pump the price of it.

[miningpoolhub]

I think that if the jackpot is made only for pos blocks , many people will have wallets up and runnig and everybody will have a better chance to win it , no matter what hashrate he have. And the pools will not overload.

I think it's really good idea.
This will enhance the network, distribute coins not according to hash power.

Even one little cpu can join and win the prize.

Maybe some of them would run 100 wallets on one machine but nevertheless it looks good.
Actually running 100 wallets are nearly impossible  
CPU suffers a lot, harddisk blockchain storage needs x100, network bandwidth is limited.
As wallets will increase, probability will decrease much also.
I don't think anyone will run wallet like this for one month not receiving any jackpot.
They will give up soon.

In this way, it is real luck, unexpected jackpot for whom just run one wallet everyday life.

How about hardfork to this jackpot rule?
I really like this idea.

Nope, jackpot is only for PoW blocks, not for PoS blocks. PoS are simply interests, it does not have superblocks.

Yeah I know. So I am suggesting dev to hardfork to this new rule.
Only PoS finding jackpot seems much better.

Everybody can enjoy jackpot since everybody is equal.
Hashing power doesn't affect luck. It's just like lotto and real luck. Isn't it better?

[valley365]

I think that if the jackpot is made only for pos blocks , many people will have wallets up and runnig and everybody will have a better chance to win it , no matter what hashrate he have. And the pools will not overload.

I think it's really good idea.
This will enhance the network, distribute coins not according to hash power.

Even one little cpu can join and win the prize.

Maybe some of them would run 100 wallets on one machine but nevertheless it looks good.
Actually running 100 wallets are nearly impossible  
CPU suffers a lot, harddisk blockchain storage needs x100, network bandwidth is limited.
As wallets will increase, probability will decrease much also.
I don't think anyone will run wallet like this for one month not receiving any jackpot.
They will give up soon.

In this way, it is real luck, unexpected jackpot for whom just run one wallet everyday life.

How about hardfork to this jackpot rule?
I really like this idea.

Nope, jackpot is only for PoW blocks, not for PoS blocks. PoS are simply interests, it does not have superblocks.

Yeah I know. So I am suggesting dev to hardfork to this new rule.
Only PoS finding jackpot seems much better.

Everybody can enjoy jackpot since everybody is equal.
Hashing power doesn't affect luck. It's just like lotto and real luck. Isn't it better?

This can't be equal, even with PoS you'd make the chance of winning be proportional to the coin-age to be fair. So those with more coins will have advantages. In this world, always rich people get an advantage...

[miningpoolhub]

I think that if the jackpot is made only for pos blocks , many people will have wallets up and runnig and everybody will have a better chance to win it , no matter what hashrate he have. And the pools will not overload.

I think it's really good idea.
This will enhance the network, distribute coins not according to hash power.

Even one little cpu can join and win the prize.

Maybe some of them would run 100 wallets on one machine but nevertheless it looks good.
Actually running 100 wallets are nearly impossible  
CPU suffers a lot, harddisk blockchain storage needs x100, network bandwidth is limited.
As wallets will increase, probability will decrease much also.
I don't think anyone will run wallet like this for one month not receiving any jackpot.
They will give up soon.

In this way, it is real luck, unexpected jackpot for whom just run one wallet everyday life.

How about hardfork to this jackpot rule?
I really like this idea.

Nope, jackpot is only for PoW blocks, not for PoS blocks. PoS are simply interests, it does not have superblocks.

Yeah I know. So I am suggesting dev to hardfork to this new rule.
Only PoS finding jackpot seems much better.

Everybody can enjoy jackpot since everybody is equal.
Hashing power doesn't affect luck. It's just like lotto and real luck. Isn't it better?

This can't be equal, even with PoS you'd make the chance of winning be proportional to the coin-age to be fair. So those with more coins will have advantages. In this world, always rich people get an advantage...

Even in that case, it's much better than getting jackpot by hashing power race.

As I am running Mining Pool Hub, recent jackpot block finder was all top hashrate miners.

Probability says everybody "can" win the jackpot, but that probability is about the same as their hashrate.
Richer getting richer is world's rule, but with jackpot coin it is much more than you think.


This means, coin is not spread to normal people but only for big GPU farm people.
They just run GPU farm for money and they will dump at once.

How about spreading the coin to normal people, who runs wallet at office computer, who will really exchange or use coins in a long term.
They would run wallet in office working hours just hoping to find one jackpot someday.
The wallet runs as just little toy on system tray and someday it will find jackpot!

Isn't it more energy efficient, and exciting? and network is more secured also.
Putting huge hashrate to coin and getting jackpot is an investment, not luck thing.

PoS looks better than PoW race I think.

[nomad1109]

Guys, the jackpot is just like the real lottory, you buy lottory tickets (= hashpower). The more tickets you have, the better chance you will get. It's like rich people buy a lot tickets (mining pools), they get better chances. But still everyone has a chance. So small people can try and expect too, byut the chance will be lower. The jackpot functions exactly like the lottory.

We understand exactly how it IS, but we are discussing a way to handle or re-distribute the single large pool problem automatically.

It seems to me that the single biggest component of this coin that makes it cool and attractive could also be it's downfall if so much hashing power gets to one pool and that causes problems.

It has for other coins, and it 'could' for potentially every coin.

The PoS lottery is interesting for many reasons, but I am not saying it is the only way it should happen or even if it will... maybe that would be for another coin to run with.

I am putting the idea out there, and having a discussion, which I think is really healthy.

If everyone runs around just saying how perfect their coin is the whole industry will not progress fast enough to keep the market interested.

Evolve or die... and I see a lot of potential to be a leader in new features if it can be done.

You can't look at the problem in a vacuum like in the real world where a group can win the lottery and the only loser is where they all work... in this case, getting millions of hashes together can increase your chances over and over to where there is no incentive to not be in the same pool as everyone else.

[SolidStateSurvivor]

Isn't it more energy efficient, and exciting? and network is more secured also.
Putting huge hashrate to coin and getting jackpot is an investment, not luck thing.

PoS looks better than PoW race I think.

Yeah, I certainly agree with that, it would be the first of its kind.

A new kind of coin, for a new era and age. Pioneering its way through the rest.