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Author Topic: Want to CPU mine? The AppleByte wallet has built-in pool mining with Minerd!  (Read 763 times)
First.Bitcoins
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May 28, 2014, 11:50:43 PM
 #1

AppleByte, launched May 1, 2014 in NYC!


You can mine directly from the MAC or Windows wallet (both come with minerd installed), using the official AppleByte Pool Server!

Newbie friendly instructions to set it up are here:
Get Started




AppleByte (ABY) is traded on Poloniex.com



More AppleByte Details:
Announce Thread: Announce Thread
Website: AppleByte.me
Crowd Funding Campaign: Indiegogo Campaign
Facebook: AppleByteMe FB Page
Twitter: AppleByteMe Twitter
Reddit: AppleByteMe Reddit

Founding Dev of ArtByte, the crypto supporting the arts, started in NYC - May 1, 2014 ArtByte.me
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okbit
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May 29, 2014, 03:31:46 PM
 #2

Impressive, I get 15khs versus 2 from straight CPU mining.
Well done!
Kuttingcorners
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May 31, 2014, 08:30:28 PM
 #3

i was just about to mine till i seen your 25% premine !!!!! good luck with that Roll Eyes

sling!
First.Bitcoins
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June 02, 2014, 03:35:16 PM
 #4

i was just about to mine till i seen your 25% premine !!!!! good luck with that Roll Eyes


I wish you read a little further and saw:

The Devs were paid in BTC,  funded by our Indiegogo campaign, not premine
The premine funds the AppleByte Foundation for artists scholarships & Awards, paid out over the next 8-10 years, No Airdrop


There is a legitimate use of premine.

Founding Dev of ArtByte, the crypto supporting the arts, started in NYC - May 1, 2014 ArtByte.me
peterlustig
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June 06, 2014, 01:22:37 PM
 #5

Mining scrypt with a CPU is stupid. I'm mining Monero instead of a premined hipster coin that is trying to scam you (mine this with your cpu although it's unprofitable!!!trolol).

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First.Bitcoins
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June 06, 2014, 02:29:07 PM
 #6

We built this for the new user, and for our typical user in the community (artists & art fans). And it is very profitable for them.

Founding Dev of ArtByte, the crypto supporting the arts, started in NYC - May 1, 2014 ArtByte.me
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June 06, 2014, 02:57:52 PM
 #7

We built this for the new user, and for our typical user in the community (artists & art fans). And it is very profitable for them.

that is a nice add-on feature of the wallet but I agree why cpu mine scypt. your claiming artists can mine this with their macbook, and they'll get shares but they wont be making anything off it.  the price is set by the gpu and scyrpt asic miners who have the hashing economy of scale over cpu...  you would be best to incorporate gpu mining built in to complement cpu mining or start a cpu algo coin (which typically lasts 2-10 days before gpu mining starts) and host cpu built in pool for it.  

So I guess the question I should research or you should point out is, how many 1, 10, 1000 artists&fans have been attracted to this, and how profitable has it been for them?
if okbit mines 15k/hash in the miner for 24 hours and your nethashrate currently is 88,847,936, 800 coins per block, 2 minute target.. assuming average luck etc etc.

(15,000/88,847,936)         *    (30 blocks per hour * 24 hours * 800 per block)
 okbits share of hashrate   *     daily output of coins
.0001688                        *      576000
87.2288 coins per day current poloniex price of 46 sat = .00004472 BTC daily or $.30 cents USD daily

GPU AMD 7950 (old hardware) 600k/hash
.0067 * 576000     = 3889 = .00178930 BTC = $1.18 UDS daily
share * daily coins = coins per day = worth

of course thats revenue not profit so subtract power & equipment cost blah blah blah... so which artists are becoming rich from this?

$MAID & $BTC other than that some short hodls and some long held garbage.
First.Bitcoins
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June 06, 2014, 03:18:01 PM
 #8

that is a nice add-on feature of the wallet but I agree why cpu mine scypt. your claiming artists can mine this with their macbook, and they'll get shares but they wont be making anything off it.  the price is set by the gpu and scyrpt asic miners who have the hashing economy of scale over cpu...  you would be best to incorporate gpu mining built in to complement cpu mining or start a cpu algo coin (which typically lasts 2-10 days before gpu mining starts) and host cpu built in pool for it.  


I agree with your points for those of us on this forum, who have been around long enough to have GPU or now ASIC scrypt miners.
But many don't, including beginners on this forum.

It has been interesting bringing this coin out focused on the community of artists in NYC, where we launched. When I explain cryptos to artists, 90% answer that they have never even heard of bitcoin! GPU mining is beyond them.

We are finding that on our pool they are CPU mining about 100 ABY a day, from their laptops. That is not much to you or me but it is very exciting and profitable for them, especially with the AppleByte Foundation promotions we give them, like restaurant & coffee shop gift cards , and now our prepaid VISA Card, $20 for 2000 ABY.




Of course we also have giveaways for them, and the AppleByte Foundation awards Artist Scholarships, as high as 10,000 ABY.

Founding Dev of ArtByte, the crypto supporting the arts, started in NYC - May 1, 2014 ArtByte.me
jasemoney
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June 06, 2014, 03:26:32 PM
 #9

the visa is cool, as it costs ~$6 to obtain the coins and you get $20... Im glad your team is doing something to reach out to other communities and spread the word about cryptocoins.  I think that since your code is closed source anyways, it could stand to be a cpu only algorithm in which case no one would be mining at a factor of 1000 better than the base user you intend to attract.  feel free to review my numbers and delete my above post.  TL:DR it costs more to mine this by laptop than you make currently, but trading up to a visa card makes it profitable currently.. Cheesy

$MAID & $BTC other than that some short hodls and some long held garbage.
First.Bitcoins
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June 06, 2014, 03:30:55 PM
 #10

I appreciate your comments. Is there a CPU algo, that can really stay CPU in this market? Everyone I have seen, someone quickly writes the code to move it up the ladder.

Founding Dev of ArtByte, the crypto supporting the arts, started in NYC - May 1, 2014 ArtByte.me
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June 06, 2014, 03:57:12 PM
 #11

there was a wave a month or two ago, when TWE, Fugue, Groestl, roulette, Jh these cpu algo coins came out frequently and each was conquered by GPU mining.  Its probably outside the scale of what your looking to implement, but if you are going to keep it closed source, you could add or remove a hash function(s) from a quark, X11, X13 or any chained hash algorithm to create something similar but which is not yet implemented and edit a minerd into the wallet that works for it.  the public would be stuck solo or pool mining from the wallet.   
(disclosure I am not a dev and have no idea what scale an endevour like this would entail)
*tin foil hat time* I do think that in the future if corporations find a way to use blockchains and proof of work in business dealings it will be closed source

$MAID & $BTC other than that some short hodls and some long held garbage.
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