AmericanComputerNerd (OP)
Full Member
 Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
 |
June 07, 2014, 12:20:07 PM |
|
I like the idea... So, you mine via a multipool for SHA / Scrypt, then dump those coins for BTC. Then trade to SPT before distributing to the pool...
It seems pretty straight-forward as far as the process goes, maybe a little complicated to automate. I'll do some research and see what I can put together.
It does seem like a good way to drive demand up for the coin, as well as increased exchange volume.
|
|
|
|
|
|
shivamchawla
|
|
June 07, 2014, 12:43:45 PM |
|
I like the idea... So, you mine via a multipool for SHA / Scrypt, then dump those coins for BTC. Then trade to SPT before distributing to the pool...
It seems pretty straight-forward as far as the process goes, maybe a little complicated to automate. I'll do some research and see what I can put together.
It does seem like a good way to drive demand up for the coin, as well as increased exchange volume.
Seems like you have been away from crypto for quite some time. These multipools are quite popular these days. Some other multipools are hashcows.ws, ipominer.com and clevermining.com |
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 07, 2014, 01:38:23 PM |
|
I like the idea... So, you mine via a multipool for SHA / Scrypt, then dump those coins for BTC. Then trade to SPT before distributing to the pool...
It seems pretty straight-forward as far as the process goes, maybe a little complicated to automate. I'll do some research and see what I can put together.
It does seem like a good way to drive demand up for the coin, as well as increased exchange volume.
Seems like you have been away from crypto for quite some time. These multipools are quite popular these days. Some other multipools are hashcows.ws, ipominer.com and clevermining.com I am familiar with multipools, just haven't heard of ones that trade exclusively for alt coins... It's a good idea... Let me look at how easy they are to deploy. I know NOMP has profit-switching built-in, but I haven't personally used this feature. I also need to figure out the logistics in how to disperse the funds. |
|
|
|
|
|
kingscrown
|
|
June 09, 2014, 05:20:05 AM |
|
pools do that often now ie LGD hits such pool tommorow. but since we just switched here ot new sync... should be eays to solo mine htis algo
|
|
|
|
|
Desten
|
|
June 12, 2014, 03:24:29 AM |
|
Wow-wow-wow. Maybe slower? 400 satoshis and falling...
|
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 12, 2014, 12:11:27 PM |
|
Wow-wow-wow. Maybe slower? 400 satoshis and falling...
This is actually a good thing... It appears a little around 4pm EST yesterday that Cryptsy updated their Spots client! Unfortunately, as I had warned in my previous posts, there was a rather large sell off from the market being frozen for almost 2 weeks. It appears somewhere around 50k worth of SPTs was dumped in a very short time, in large part due to auto trades and frozen deposits. There are two things to do now! One, we need to start increasing demand for Spots! Open up and use Spots stores and services!!! Two, take advantage of the super-low price and invest in Spots for the long-term. Start buying it up now! It looks like all of the auto-trades are done the market has been pretty stable over the last 4 or 5 hours. |
|
|
|
|
|
Desten
|
|
June 12, 2014, 12:37:42 PM |
|
According to market trade history there was not so much sells to be autosells. I think if it was autosells then there must be more trades with lower volumes, but there was few trades with big volumes (or it was autosell from biggest miners - but spots are very cheap to mine for big fishes). And sells was mixed with buys. So, this was bots, imho.
|
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 12, 2014, 12:41:40 PM |
|
According to market trade history there was not so much sells to be autosells. I think if it was autosells then there must be more trades with lower volumes, but there was few trades with big volumes (or it was autosell from biggest miners - but spots are very cheap to mine for big fishes). And sells was mixed with buys. So, this was bots, imho.
In either case, it was a result of the market freeze. The price will recover and appears to be stabilizing. This is what we've been waiting for!!! It's good news. |
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 14, 2014, 02:14:56 PM |
|
Hi Everyone - As I've said from the beginning of this journey, I want the community to "own" Spots. Keeping this philosophy in mind, I want to get everyone's feedback on our next big initiatives. What do you guys want to see in a Spots store? What services do you want to see? Are there any great ideas out there that would set our coin apart from the other alt coins? I do have two items that I am currently researching / working on from previous discussions. - SHA & Scrypt MultiPool that trades for Spots - This is a great idea to put old mining equipment to work and to increase demand / trade price for Spots. I've identified that the NOMP code can do this, at least on the back-end. The front-end / database would need to be coded from scratch or MPOS would need significant modifications to make this work. I'm still researching options and determining the best way to move forward.
- Obviously the Mac client... I don't have a Mac and the OS is not easily virtualized. There is a bounty, and I am continuing to try to find a Mac or safe way to use VirtualBox with a Mac OS.
|
|
|
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 16, 2014, 01:08:22 AM |
|
|
|
|
|
|
|
Desten
|
|
June 16, 2014, 09:53:11 PM |
|
There are no PR. There are no new users/traders, most of old users are disappointed (all IMHO). Multipool frequently shows spots as most profitable coin. Awaiting for crazy dump?
|
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 17, 2014, 04:44:18 AM |
|
There are no PR. There are no new users/traders, most of old users are disappointed (all IMHO). Multipool frequently shows spots as most profitable coin. Awaiting for crazy dump?
Desten, your negativity is not good for this community... Feel free to PM me or anyone else if you have specific concerns. Let me respond to you thought by thought... There is no PR - What would you suggest? In about a month we've forked the client to fix the unstable block chain, had the coin relisted on many crypto coin charts, we have an active social media feed, we are traded on a major exchange, and we have two unique stores. By all means, tell us what else should we be doing? Also, know that you could step up and come up with a plan as well. There are no new users / traders - I disagree, we are still seeing a lot of traffic and buzz. The client is being downloaded at a regular rate... The only area that is quieting down is the forum. Most of the old users are disappointed - I'd be more than happy to work with anyone who has an idea or suggestion. Every idea shared has been implemented, with the exception of a single request to make the algo X11 instead of Scrypt-N. And that was simply because the work was already done when the request came in... Multipool shows Spots as most profitable coin. Awaiting for crazy dump? - KGW limits the damage a multipool can do to our difficulty levels by fast difficulty retargeting. That is why it was introduced. Our block target is remaining constant at 70 seconds, and those coins are going somewhere... Whether it's a multipool or solo miner... Also, it is more common that those coins are dumped immediately to ensure they trade at the current trade price. They are not keeping a huge wallet somewhere waiting to drop it on the exchange. |
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 17, 2014, 05:10:54 AM |
|
I updated the OP to show Coins-E as our second confirmed exchange. Their volume is a little low, but things should pick up. https://www.coins-e.com/exchange/SPT_BTC/ |
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 19, 2014, 12:33:54 AM |
|
Hey Everyone -
I wanted to give an update on the SHA multipool that disperses Spots coins exclusively as payout... I have confirmed there is no easy or open source plug and play solution for this. At least not yet... I see a lot of communities have reached out to freelance developers to try to pay someone to do it... In our case, Spots wasn't pre-mined and I can't afford a significant bounty... I can hardly afford to keep the two servers online!
After closely looking at NOMP and MPOS, I think I've come up with a way to make this work with some limited modifications. Over the next day or two I'm going to test what I'm thinking and report back... NOMP has a plug and play multipool and I think I've found a way to modify MPOS to function as a multipool frontend and payment distribution center.
I really like this idea, so it will be my #1 priority for the coin moving forward. It has the potential to expand our reach and user base. It also will help to increase demand for the coin when the other altcoins are converted to Spots.
|
|
|
|
|
|
nixon99
|
|
June 19, 2014, 05:03:04 PM |
|
Looking forward to the multipool  |
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 20, 2014, 03:31:30 AM |
|
I'm sorry to let you down... :-(
After testing NOMP "hacked" together to work with MPOS, I'm finding all sorts of issues... This isn't to say it can't be done, but it can't be done easily. I guess this is to be expected, as if it was easy everyone would have a multipool up and running, right?
I'm going to continue to work on it, but I honestly can't give an ETA at this point or commit to it ever being finished. If you're a multipool operator, please feel free to reach out to me if you think you can program this.
|
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 20, 2014, 03:43:40 AM |
|
Don't worry too terribly much about the recent price drop on Cryptsy... Our price was artificially stable and over-valued by a large buy order at 450 satoshis. That buy order was dropped earlier today, and as new coins are placed in circulation through block rewards, the price will slowly decline until it finds it's true post-fork floor.
It looks like we are stable around 400 satoshis, but we may fall as low as 300 satoshis before we find an equilibrium... Maybe a good opportunity to buy if you are comfortable with the risk.
|
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 20, 2014, 02:45:18 PM
Last edit: June 20, 2014, 05:57:18 PM by AmericanComputerNerd |
|
Effective immediately, mine.theSPT.com will have 0% fees.
Over the last week I've been playing with ad banners and that has proven to be a better business model. Moving forward, you keep 100% of your rewards and let a 3rd party support the hosting costs.
|
|
|
|
|
AmericanComputerNerd (OP)
Full Member
Offline
Activity: 224
Merit: 100
"Change is the only constant." -Heraclitus
|
|
June 20, 2014, 07:18:45 PM |
|
Looking forward to the multipool I am looking at a PoS coin where you register with their service and are given a BTC address to mine with. You then go mine with your multipool of choice using the provided BTC address. When the BTC are deposited with the service, a comparable value of the Altcoin is sent to your Altcoin address. It would be much easier to manage an exchange like this, than a full multipool... Does anyone see any holes or a reason this wouldn't work? |
|
|
|
|
|
Poll
