Coin_Viking
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Activity: 111
Merit: 10
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June 01, 2014, 02:56:04 PM |
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So X11 can be mined already ?
Sgminer reports a difficulty of 32k while the getmininginfo command reports 0.00024. Why such a difference ?
Hardfork for new algos kicks in this friday. Wont run until then I dont think. |
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Coin_Viking
Member
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Activity: 111
Merit: 10
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June 01, 2014, 05:02:37 PM |
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Will ASIC's somehow affect SaffronCoin?
Saffroncoin is designed from the ground up to accomodate asics, the multi algo approach alleviates the typical "arms race" associated with single algo coins by the virtue of having other algos to move gpus over to and yet still remain competitive and provide valuable work to the network. All algos work together in effect bolstering the net hashrate and as such securing the blockchain. When scrypt asics (they're here already.. But if were talking about the big knc variants to be shipped mid to late summer).. The difficulty will increase for the scrypt algo if some of these machines start mining saffron. At that point for smaller miners it will make more sense to move over to x11, groestl or even blake algos (which are better for the hardware anyways). All diffs are independant per algo so that the system adjusts it so that all algos have an equal chance of finding the next block. Hope this helps clarify things for you. |
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saffroncoin (OP)
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June 01, 2014, 07:46:14 PM |
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So X11 can be mined already ?
Sgminer reports a difficulty of 32k while the getmininginfo command reports 0.00024. Why such a difference ?
Hardfork for new algos kicks in this friday. Wont run until then I dont think. Yup. The Difficulties of X11 and blake will show as 0.00024 till the hardfork kicks in. These algos get activated only when the best chain is on the new fork. Once the hardfork kicks in, you may need to close your wallet and reopen it to solo mine these new algos. |
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saffroncoin (OP)
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June 02, 2014, 08:54:06 AM |
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Could any pool operators please create an X11 pool for SaffronCoin?
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restless
Legendary
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Activity: 1151
Merit: 1001
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June 02, 2014, 10:46:48 AM |
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when hardfork comes.
What happens with already mined coins?
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saffroncoin (OP)
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June 02, 2014, 11:12:20 AM |
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when hardfork comes.
What happens with already mined coins?
Your balance will be as it is. You can create a backup of your wallet.dat file. |
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m4xp0w3r7
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June 02, 2014, 02:56:39 PM |
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After update very interesting coin. Im mining  |
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hughjays77
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June 02, 2014, 10:38:02 PM |
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Hey CViking, I have a few ideas re marketing however at this time Im concerned with the level of coin creation and increase in money supply. eg. we have created approx. 432,000 coins in the past 2 dayss!!. This has not helped the situation at Bittrex where bids have all but dried up... only 147,000 Saffron wanted at between 1 - 6 Satoshi !! https://www.bittrex.com/Market/?MarketName=BTC-SFRThis level of coin creation will kill any coin and must be addressed. Hopefully the situation will drastically improve after the HArd Fork. Money supply needs to be kept in check at below 5% pa in my opinion thats approx 400,000coins/yr NOT every 2days. The Dev's and community can then focus on all the great features/marketing resulting in a natural demand/supply market mechanism taking the price in an upward direction. Saffron has the potential to be a great coin but it is hard to move forward at this level of coin inflation. Short term issues to be addressed should be: 1) Coin Inflation rate - resolved by Jun 10th 2) White Paper - resolved by Jun 13th Best Thanks Dev for the response. After the hard fork we can talk more about money supply inflation, anonymity and the white paper for future plans. I am glad you remain open minded.
hughjays77, saffron's devs are some of the nicest and legit as they come. I am liking the ideas you have outlined. Insofar as block halving, it may be something to revising in a year from now, block halving has had little to no effect on coins that have done it (dogecoin, flutter come to mind.. well one net effect.. loosing miners and hashrate). I am not so concerned, by the superblock to be honest, I'd have to check if I've even even mined one lol. Anon or rather "privacy features" could be of interest, though for the goals that this coin wants to achieve (that being mainstream adoption) perhaps then the best of both world would be the eventual integration of stealth addresses (think vertcoin's implementation this summer). But at this point, I'd have to side with the devs and say its just too early in saffron's lifecycle atm to be put in active dev over other priorities. Adoption will come, the hashrate has slowly increased, activity on bittrex as well. Baby steps. When x11 hits, it should generate alot of mining interest. The devs are continually refining the features and planning on expanding the capabilities of their coin and services associated (wallet etc). It may not be the flashy pop that alot of coin seem to be getting these days right out of the gates but some of the best coins took time to be "discovered" by the mainstream. Insofar as gaining more attention via marketing etc what would you have in mind? I'd love to hear your thoughts. I've helped with the logo/website and am fairly active on twitter and drop in saffroncoin into my convos when I can (today was with the digibyte dev...) |
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lexusivan888
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June 03, 2014, 05:41:39 PM |
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this coin is interesting,, any future plan for it , dev ?
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saffroncoin (OP)
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June 03, 2014, 05:46:09 PM |
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this coin is interesting,, any future plan for it , dev ?
Yes, we are working on a lot of stuff. We want to get this coin to be one of the best out there. We already probably have one of the best crypto wallets. So now after the hardfork and once we rectify the current coin inflation problem, we are pretty sure the coin will compete well with others. |
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saffroncoin (OP)
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June 03, 2014, 06:10:03 PM |
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Not bad, I really enjoyed reading that article.  ) BTW, I would like to have a short chat with you, why you are not on IRC? I can't keep my revolutionary wallet open all the time since i was working on the hardfork and testing the different versions of the wallet. I don't much use IRC through the website. Once all the technical bit is done, i will continuously be on IRC. You can PM me. At present, i can reply faster through this. |
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saffroncoin (OP)
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June 03, 2014, 09:15:11 PM |
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HardFork V1.2.1 We apologize to alter the original hardfork and ask you all to update your wallets again. There was an inflation problem that had to be checked. We needed to change the specs a bit. The hardfork time will remain the same i.e June 6, 07:30 GMT at block 112,999. These are the new specs that would kick in after the hardfork:
-Block time increased to 90 secs on average across 5 algorithms.
-Block reward will remain 72 SFR.
-Block reward will halve approx every 18 months (518400 blocks).
-960 blocks will be produced per day. (Reduced due to inflation of coins)
-X11 algorithm added as 4th algorithm
-Blake256 algorithm added as 5th algorithm
Some interesting features also added :
There will be a superblock week after the end of every year for the 1st 5 years where the block reward will be 5 times the block reward at that time. For the 5th year, the superblock week will have a block reward of 7 times the block reward at that time. We again apologize for the inconvenience caused in updating your wallets again. Please do update, otherwise the hardfork will not be successful. |
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hughjays77
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June 03, 2014, 10:26:07 PM |
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Good News, Coin creation has now been reduced by approx 67% and we can look towards a further 50% reduction within the next 16 months. I would have preferred a quicker reduction schedule but at least we are heading in the right direction and it may take 100yrs to get to the coin target of 111million coins The option also exists for a further Fork [eg. POS, anonymity,etc,etc] to allow for a further reduction in the coin creation rate. All good for the medium to long term. I think a conservative target price for the next 16 months - 99,999 satoshi Time for the white paper - is a target date of June 15th good for you Dev ? Maybe we should also add the Fork date to the Thread title Now that we have the money supply issue fixed, I will begin to add my ideas for the coin over the medium term. Others should too Unlike 95% of other coins[over 1000 coins] we actually have full time capable Dev's. The sky is the limit. HardFork V1.2.1 We apologize to alter the original hardfork and ask you all to update your wallets again. There was an inflation problem that had to be checked. We needed to change the specs a bit. The hardfork time will remain the same i.e June 6, 07:30 GMT at block 112,999. These are the new specs that would kick in after the hardfork:
-Block time increased to 90 secs on average across 5 algorithms.
-Block reward will remain 72 SFR.
-Block reward will halve approx every 18 months (518400 blocks).
-960 blocks will be produced per day. (Reduced due to inflation of coins)
-X11 algorithm added as 4th algorithm
-Blake256 algorithm added as 5th algorithm
Some interesting features also added :
There will be a superblock week after the end of every year for the 1st 5 years where the block reward will be 5 times the block reward at that time. For the 5th year, the superblock week will have a block reward of 7 times the block reward at that time. We again apologize for the inconvenience caused in updating your wallets again. Please do update, otherwise the hardfork will not be successful. |
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saffroncoin (OP)
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June 03, 2014, 10:34:40 PM |
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Thanks hughjays77, lets hope everyone updates so we get to block 112,999!
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hughjays77
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June 04, 2014, 01:51:33 AM |
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Please contact http://coinmine.pw/index.phpThey are one of the biggest pool operators. I use them and have few complaints. I will also send them a PM Could any pool operators please create an X11 pool for SaffronCoin?
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saffroncoin (OP)
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June 04, 2014, 01:59:54 PM |
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Dumps reducing on Bittrex! This HardFork will benefit the ones holding.
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TizeN85
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June 04, 2014, 07:01:38 PM |
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Let's SFR to the moooooon!  |
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hughjays77
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June 04, 2014, 09:12:01 PM |
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Less than 36hrs to Hard Fork Make sure to update your Wallet to v1.2.1
WARNING: Wallet version v1.2 announced 5 days ago is NOT the correct wallet for the hard fork. To check bring up your wallet, select menu item 'help' and go to 'about Saffron Coin'. It should say v1.2.1 NOT v1.2
We Hard Fork at Block 112,999
The fork will reduce coin creation by approx 67%. After June 7th Saffron Coin will be moving on to much bigger things to be announced. We have superstar developers, a superstar community and superstar plans.
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