[ANN][1CR] 1CRedit Coin Relaunch

[lfo]

Mining pool locks on signup for your pool cassey, no email confirmation reaches my inbox so i can help secure the network with my rig

[1714925839]

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[Cassey]

Mining pools?

I maintain mpos.1creditcoin.org, but its lightly used.  Still, all are welcome.

Its a bit odd that the daily trading volume EXCEEDS the market value of the coin.  Also noticed coinmarketcap is a bit behind on #coins in circulation:  they claim 48K and its a bit over 50K now.  Close though.

[Cassey]

...  Also noticed coinmarketcap is a bit behind on #coins in circulation:  they claim 48K and its a bit over 50K now.  Close though.

"Please provide a URL that shows the total supply of coins in real time.
Required. For example, Dogecoin's total supply of coins can be found at: http://dogechain.info/chain/Dogecoin/q/totalbc"

I believe I gave them the blockexplorer over on  https://prohashing.com, but I'm having problems opening that site right now.  That would explain the difference.

[Cassey]

...

I believe I gave them the blockexplorer over on  https://prohashing.com, but I'm having problems opening that site right now.  That would explain the difference.

No, that is not the problem. They need a specific page that has the number, not an explorer. Somebody should make a page with nothing else but the number of coins. It isn't a big deal since only one coin goes out per block but if it is going to be completely accurate and current, rather than accurate as of several weeks ago, then a page has to be made.

Also, the blocks are caught up, but prohashing's website is down, as you say. There should be more explorers. I messaged fairglu about an explorer for gapcoin and will ask him if there would be a pricebreak for 2 explorers.

Actually, they seem fine with an explorer page they can easily parse.  They are using prohashing.com for YACCoin as well.

[Cassey]

Ah, cool.  Maybe send them an update then?  Just sold a couple of BTC worth at 0.003 over on Poloniex.

[Crypto*Digger]

Any working pool besides yours cassey? diff too low to my rented hash

[Cassey]

Any working pool besides yours cassey? diff too low to my rented hash

Sorry, only track my own.  Which, apparently is working, although the latest OS patches have goofed up the # of workers being displayed on the dashboard.  All three of my pools have the problem, all three are running on the same machine.  I have my software guy scheduled to take a look.

This one use to be active, no idea if it still is:  http://mineblocks.no-ip.org:2627/pool/1CR/ Others have been posted in this thread, might be worth a scan.

[steveds]

Nice pump.

[Cassey]

Nice pump.

Not my doing... but I did sell a few coins...  Wonder if it will reach 0.004?  Getting closer as the day wears on.

[steveds]

Nice pump.

Not my doing... but I did sell a few coins...  Wonder if it will reach 0.004?  Getting closer as the day wears on.

u were smart enough to not bump this thread.

[dnaleor]

I have a selling system for any asset I think has the potential to increase exponentially.

It's based on a few simple rules:

1) sell x % of your current stash (z) each time price is multiplied by y
2) devide that amount of coins in smaller tranches and distribute them evenly
3) stick to the plan.

An example with z = 1000 1CR, bought at 0.5 mBTC; x = 10%; y = 2

SELL 10% of 1000 = 100 1CR starting at 2*0.5 = 1 mBTC. Spread those 100 1CR in 10 orders between 1 mBTC and 2*1 = 2 mBTC
=> 10 1CR @ 1 mBTC; 10 1CR @ 1.1 mBTC; 10 1CR @ 1.2 mBTC; ...; 10 1CR @ 1.9 mBTC

SELL 10 % of 1000-100 = 90 1CR starting at 2*1 = 2 mBTC. Spread those 90 1CR in 10 orders between 2 mBTC and 2*2 = 4 mBTC
=> 9 1CR @ 2 mBTC; 9 1CR @ 2.2 mBTC; 9 1CR @ 2.4 mBTC; ...; 9 1CR @ 3.8 mBTC

SELL 10 % of 900-90 = 81 1CR starting at 2*2 = 4 mBTC. Spread those 81 1CR in 10 orders between 4 mBTC and 2*4 = 8 mBTC
=> 8.1 1CR @ 4 mBTC; 8.1 1CR @ 4.4 mBTC; 8.1 1CR @ 4.8 mBTC; ...; 8.1 1CR @ 7.6 mBTC
...

If you continue to do this, you'll still have 348 1CR when 1 1CR = 1.024 BTC
Meanwhile you are cashing some 1CR out to BTC slowly

[Cassey]

Thanks!

[dnaleor]

I created a custom link to the 1CRUSD chart provided by tradingview.

Original link: http://www.tradingview.com/chart/?symbol=1CRBTC*BTCUSD
Shortened link (only use bitly-links if you trust the creator!): http://bit.ly/1crusd

edit: The weekly chart since trading started at polonix (excuding the first week because ridicoulous high price spike)

[Badamba]

Cassey.
Already 24 hours as there is no payment for mining on mpos.1creditcoin.org
What happened?

[BITDV]

been over 11 days since a block has been popped?? any particular reason??

[Cassey]

Yeah... we are suffering the classic post euphoria depression cycle <smile>.  Seriously though, I expected this to last 2-4 days.  We went from something like 850MH on the network to 20-30Mh on a coin with a wildly variable block time.

Bottom line:  we are just suffering from the sudden withdrawal of a LOT of hashing post the coin run-up and abandonment when the run-up was over.

Happens to virtually ever small coin that gets attention from time to time.  In fact, its why 1CR was designed with the wild block time (which still averages out ok):  When it was created, multicoinpools would target whatever coin was worth the most, in a short period of time.  That would result in brief run-ups followed by abandonment that the regulars would pay for.

[Cassey]

...  In fact, its why 1CR was designed with the wild block time (which still averages out ok):  When it was created, multicoinpools would target whatever coin was worth the most, in a short period of time.  That would result in brief run-ups followed by abandonment that the regulars would pay for.

Are you saying you favor having a lot of blocks mined in a few minutes then many days without a block?

Wouldn't it be better to have a more reliable block time?

What I'm saying is that other coins have been raped repeatedly by multicoin pools and suffer this problem on a fairly regular basis - with the regular, loyal, miners paying the price for get-rich-quick automated processes.  I know, because I have authored and still support one of those coins (Yaccoin).

What I'm saying is that, until this recent external pump and dump, the coin has been running perfectly fine for over 2 years.

What I'm saying is that this is one of the things that makes this coin different from others, and that most get it.

Of course I'm not happy about the current situation, but I'm not about to remove the uniqueness of this coin just so it can be like every other coin out there - which wouldn't solve this problem anyway.

Curious how many coins you have authored and support that work better, over periods of years, not just for a weeks or months?

Bottom line:  EVERY coin, if you throw 100X more than normal computing at it will adjust its difficulty by 100X.  If you then yank the computing and put it back down at 1X, the coin will take 100X the normal time range to find its next block.  For 1CR, the actual number was AT LEAST 40X, for a coin that fairly regularly would have a 8+hour block once in awhile, so 10+ days is unfortunate, but not out of the realm of normality, for a one off event like what it just went through.  If they do it again, after the coin re-balances itself, I would suggest selling and taking away the pump & dumpers incentive.

[Cassey]

What I'm saying is that other coins have been raped repeatedly by multicoin pools and suffer this problem on a fairly regular basis - with the regular, loyal, miners paying the price for get-rich-quick automated processes.  I know, because I have authored and still support one of those coins (Yaccoin).

What I'm saying is that, until this recent external pump and dump, the coin has been running perfectly fine for over 2 years.

What I'm saying is that this is one of the things that makes this coin different from others, and that most get it.

Of course I'm not happy about the current situation, but I'm not about to remove the uniqueness of this coin just so it can be like every other coin out there - which wouldn't solve this problem anyway.

Curious how many coins you have authored and support that work better, over periods of years, not just for a weeks or months?

Bottom line:  EVERY coin, if you throw 100X more than normal computing at it will adjust its difficulty by 100X.  If you then yank the computing and put it back down at 1X, the coin will take 100X the normal time range to find its next block.  For 1CR, the actual number was AT LEAST 40X, for a coin that fairly regularly would have a 8+hour block once in awhile, so 10+ days is unfortunate, but not out of the realm of normality, for a one off event like what it just went through.  If they do it again, after the coin re-balances itself, I would suggest selling and taking away the pump & dumpers incentive.

I am not a miner but would like to understand basics. I'm not trying to be  critical, but you seem to contradict.

There have been many times prior to this last pump when the coin would get many blocks mined suddenly then go days without a block. It isn't something that just popped up.

You seem to be saying it's a deliberate thing that's built into the coin, but then you also say it is something that shouldn't happen.

I don't want to get attacked by you for wondering what the facts are.

Just curious.

Sorry, but the question is like asking an olympic 200M butterflyer who came in 4th why he didn't try breaststroke instead.  Do you honestly think we didn't spend any time thinking about this prior to implementing?

[Badamba]

Still got nothing.
SCAM.

[Cassey]

SCAM... right... spent 2 years setting this up and caring for this coin just to scam you while still holding a major stake in it.  FU.