[ANN][MIN] Minerals - POS | Developing own anon solution |

[MineralsPR]

Here is our rough sketch of anonymity.
Still, it has some issues.

Good concept. What happened to the source being kept as a secret  ? Is there an IRC where we can discuss such stuff. Your ideas will be much more safe.

The idea itself is not brand new. Click coin, for example, uses a similar approach. If we will be able to create our own system - it will be closed source.

Also I really dont understand why ppl love IRC chat so much

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[Hodor_keeper_of_the_light]

MineralsPR, what was done in the last few days to improve and more importantly promote the betting platform? Any progress?

We are currently doing transaction protection for betting service. The problem is there are certain moments when a transaction can be "chewed" by the system (for example, if you send your bet to the wallet generated for the previous betting round because you webpage was not refreshed in time - or you simply had the wrong address in the buffer) - to ensure that this will not going to happen we need to track every transaction made to the wallet associated with service and instantly (or within a small time frame) return it back to the user. The concept is fairly simple, however we found out that constant tracking eats a huge chunk of the server`s resource and we need further optimize code in order to avoid overloading when we will have significant amount of users made their bets. Those changes might be invisible from the outside, but absolutely crucial to ensure service stability and reliability.

Also, having coders on salary have its own downside - they tend to stop working on weekends.

Coders on salary? Where do you get resources for salaries and will you run out of money eventually? I knew it's project Team invest in, time and money, but still. Running coders on salaries hoping at some profit at 2015 Q1? Just want to make sure you're fine

[jc12345]

MineralsPR, what was done in the last few days to improve and more importantly promote the betting platform? Any progress?

We are currently doing transaction protection for betting service. The problem is there are certain moments when a transaction can be "chewed" by the system (for example, if you send your bet to the wallet generated for the previous betting round because you webpage was not refreshed in time - or you simply had the wrong address in the buffer) - to ensure that this will not going to happen we need to track every transaction made to the wallet associated with service and instantly (or within a small time frame) return it back to the user. The concept is fairly simple, however we found out that constant tracking eats a huge chunk of the server`s resource and we need further optimize code in order to avoid overloading when we will have significant amount of users made their bets. Those changes might be invisible from the outside, but absolutely crucial to ensure service stability and reliability.

Also, having coders on salary have its own downside - they tend to stop working on weekends.

Coders on salary? Where do you get resources for salaries and will you run out of money eventually? I knew it's project Team invest in, time and money, but still. Running coders on salaries hoping at some profit at 2015 Q1? Just want to make sure you're fine

They should be fine because part of the decision to go for long term real life services first which will see price rises after several months only means they had to have alternative sources to keep the engines turning while the price and volume remains low. If they did not have the alternative resources they would have secured a high price floor first and made sure that the funding logistics are in place if the plan was to pay for betting services development with the coins itself. So the only thing that makes sense is that they have enough alternative resources to pay for the salaries to see development through the rest of 2014 while prices remain <2000.

Demand and therefore price and volume will really take off once everything is in place in a few months time and after several successful tournaments have been held (probably towards end Q4 2014-Q1 2015). The trick is just to keep everything alive and momentum going until then and to prevent any de-listings along the way.

[Hodor_keeper_of_the_light]

MineralsPR, what was done in the last few days to improve and more importantly promote the betting platform? Any progress?

We are currently doing transaction protection for betting service. The problem is there are certain moments when a transaction can be "chewed" by the system (for example, if you send your bet to the wallet generated for the previous betting round because you webpage was not refreshed in time - or you simply had the wrong address in the buffer) - to ensure that this will not going to happen we need to track every transaction made to the wallet associated with service and instantly (or within a small time frame) return it back to the user. The concept is fairly simple, however we found out that constant tracking eats a huge chunk of the server`s resource and we need further optimize code in order to avoid overloading when we will have significant amount of users made their bets. Those changes might be invisible from the outside, but absolutely crucial to ensure service stability and reliability.

Also, having coders on salary have its own downside - they tend to stop working on weekends.

Coders on salary? Where do you get resources for salaries and will you run out of money eventually? I knew it's project Team invest in, time and money, but still. Running coders on salaries hoping at some profit at 2015 Q1? Just want to make sure you're fine

They should be fine because part of the decision to go for long term real life services first which will see price rises after several months only means they had to have alternative sources to keep the engines turning while the price remains low. If they did not have the alternative resources they would have secured a high price floor first and made sure that the funding logistics are in place if the plan was to pay for betting services development with the coins itself. So the only thing that makes sense is that they have enough alternative resources to pay for the salaries to see development through the rest of 2014 while prices remain <2000.

Oh, I forgot, they've talked about it already. Yep, I suppose they have alternative

[MineralsPR]

MineralsPR, what was done in the last few days to improve and more importantly promote the betting platform? Any progress?

We are currently doing transaction protection for betting service. The problem is there are certain moments when a transaction can be "chewed" by the system (for example, if you send your bet to the wallet generated for the previous betting round because you webpage was not refreshed in time - or you simply had the wrong address in the buffer) - to ensure that this will not going to happen we need to track every transaction made to the wallet associated with service and instantly (or within a small time frame) return it back to the user. The concept is fairly simple, however we found out that constant tracking eats a huge chunk of the server`s resource and we need further optimize code in order to avoid overloading when we will have significant amount of users made their bets. Those changes might be invisible from the outside, but absolutely crucial to ensure service stability and reliability.

Also, having coders on salary have its own downside - they tend to stop working on weekends.

Coders on salary? Where do you get resources for salaries and will you run out of money eventually? I knew it's project Team invest in, time and money, but still. Running coders on salaries hoping at some profit at 2015 Q1? Just want to make sure you're fine

My main job is Project manager in a company that does designs for LTE network - so my salary allows me to spend something on things I like
Other founders have much better financial positions so in short words, we have some money to throw around. Not infinite amount, but we can handle couple coders and admins on salary. In exchange, we get pretty stable team attendance 5/7 Besides that we still have to pay for servers and stuff. We have a sort of budget sack where we all put money and then use it to pay the expenses/salary. That's why we are very carefully considering all investments and not rushing with any decisions - it is our money on the line after all  

[wakeupcall]

We are currently doing transaction protection for betting service. The problem is there are certain moments when a transaction can be "chewed" by the system (for example, if you send your bet to the wallet generated for the previous betting round because you webpage was not refreshed in time - or you simply had the wrong address in the buffer) - to ensure that this will not going to happen we need to track every transaction made to the wallet associated with service and instantly (or within a small time frame) return it back to the user. The concept is fairly simple, however we found out that constant tracking eats a huge chunk of the server`s resource and we need further optimize code in order to avoid overloading when we will have significant amount of users made their bets. Those changes might be invisible from the outside, but absolutely crucial to ensure service stability and reliability.

Also, having coders on salary have its own downside - they tend to stop working on weekends.

Thanks. Hmm, I know what you mean. Moreover, if the amount of streamers grows, more "expired" addresses would have to be checked. The question is, even if you optimize the code, will it scale reasonably well? Polling is always PITA. Although quite drastic, maybe a completely different betting mechanism should be considered too.

Well, anyway, it's good to hear you're not devoting all your time to this anon nonsense.

[Hoshimaru]

Love these announcements MineralsPR

I have been digging for POSA and stumbled on Cloakcoin's whitepaper (not Clickcoin?).
It's a very interesting read and looks like a way safer and trustworthy way to implement it compared to these coin mixers or even centralized 'secured' transaction databases to keep track of the anon transaction.

What aspects of their POSA implementation would Minerals want to improve of change if I may be so curious :p

As for the betting service. I do not know how something like this gets implemented, but if it involved a database, can't a SQL-function that gets triggered after each betting session, quickly retrieve all the records having still more and 0 minerals and store these in a temporary table before deleting them from the actual betting table(s)? After a sweep, you process refund transactions, and destroy the temp table. Keeps number of records low and the database runs faster. It shouldn't affect performance heavily this way.

Edit: small blog entry about it (POSA+improvements) @ http://bit.ly/1oPkN6g

[Pikachu12]

Accumulation going on.

[chinchs]

Love these announcements MineralsPR

I have been digging for POSA and stumbled on Cloakcoin's whitepaper (not Clickcoin?).
It's a very interesting read and looks like a way safer and trustworthy way to implement it compared to these coin mixers or even centralized 'secured' transaction databases to keep track of the anon transaction.

What aspects of their POSA implementation would Minerals want to improve of change if I may be so curious :p

As for the betting service. I do not know how something like this gets implemented, but if it involved a database, can't a SQL-function that gets triggered after each betting session, quickly retrieve all the records having still more and 0 minerals and store these in a temporary table before deleting them from the actual betting table(s)? After a sweep, you process refund transactions, and destroy the temp table. Keeps number of records low and the database runs faster. It shouldn't affect performance heavily this way.

Edit: small blog entry about it (POSA+improvements) @ http://bit.ly/1oPkN6g

As always... excelent article!

[hoangduong]

next tournament announcement

[X-Laboratories]

next tournament announcement

Yes, please, please (DOTA2 this time?), we want to test the improvements, we need mass test to improve stability and find leaks.
Count on us for support as always

"....anon is not about being rich next week, its about volume, if we can increase volume (Price will follow), we can survive until new features are available, Min was #1 on Bittrex, let's try to put it right back where it belongs (between top 10 at least), also, if the Price goes up, any reward/prize will sound more interesting, think what could happen to those who participate in the tournament if Price goes to 300 sat, we will lose supporters and we can't afford that"

Holy words.

[holylacross]

next tournament announcement

 (DOTA2 this time?)

Dota 2, yes

[Stronci]

Guys how you think, the individual stream is necessary to Minerals?

[vual]

When is next tournament??
There is fuck all buy support makes me worried min will die in the ass.

[chrisnippz]

MineralsPR, what was done in the last few days to improve and more importantly promote the betting platform? Any progress?

We are currently doing transaction protection for betting service. The problem is there are certain moments when a transaction can be "chewed" by the system (for example, if you send your bet to the wallet generated for the previous betting round because you webpage was not refreshed in time - or you simply had the wrong address in the buffer) - to ensure that this will not going to happen we need to track every transaction made to the wallet associated with service and instantly (or within a small time frame) return it back to the user. The concept is fairly simple, however we found out that constant tracking eats a huge chunk of the server`s resource and we need further optimize code in order to avoid overloading when we will have significant amount of users made their bets. Those changes might be invisible from the outside, but absolutely crucial to ensure service stability and reliability.

Also, having coders on salary have its own downside - they tend to stop working on weekends.

I have said it before, but will say again. Wouldn't it be easier to set up a site much like and exchange with hot/cold wallets. Users sign up etc and deposit minerals to site wallet and it comes up on their profile. Then they are free to bet on lots of games with ease and not having to copy paste wallet addresses every time they want to make a bet. Quicker, easier, less load on the servers.

[Amph]

When is next tournament??
There is fuck all buy support makes me worried min will die in the ass.

until now someone was just playing with the market to not let minerals get delisted

[jc12345]

When is next tournament??
There is fuck all buy support makes me worried min will die in the ass.

Because creating demand through betting is a long term thing and something else needs to be done to create demand in the short term while the long term services are established. I think this has been said 100 times already. Look at what creates demand in alt coins at the moment and implement that in the short term and then work on the long term.

Someone does not want to listen and would rather let the coin die while a solid long term use will not have the opportunity to be properly implemented due to the coin running out of steam. That makes it 101 times that it has been said.

[bukeyi]

Congrats, we just dropped below 1000 with this anon / tournament indecisiveness. Keep it up.

[jc12345]

Congrats, we just dropped below 1000 with this anon / tournament indecisiveness. Keep it up.

It is not indecisiveness, just a lack of understanding of economics.

[Hoshimaru]

Congrats, we just dropped below 1000 with this anon / tournament indecisiveness. Keep it up.

The team announced that anon will be based on POSA / Proof of Stake Anonymity. It's not going to implement itself overnight.
Also... Have you seen the other markets? Everything is down, except maybe xcloudcoin, which managed to create the new temporary fad in the altcoins scene.
It's the repetitive behavior of traders. Friday everything goes down, Sunday it hits the new lowest floor and Monday the train leaves the station again. So sell coins on Wednesday or Thursday with profit and Sunday you buy back by the truckload. Eat, sleep, trade, repeat.