Bitcoin Forum
February 19, 2019, 12:16:17 PM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 ... 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 [61] 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 ... 170 »
  Print  
Author Topic: Bitmark  (Read 602588 times)
tdokta
Full Member
***
Offline Offline

Activity: 159
Merit: 100


View Profile
August 28, 2014, 07:47:35 AM
 #1201



history

* The mill or mille (₥) is a now abstract unit of currency
* It was a notional unit equivalent to 1⁄1000 of a currency unit
* full article

Repurpose

* The mark (₥) is 1⁄1000 of a BTM

Thank you history for abandoning something else useful to our project. We have been very fortunate with our choices.

it even has a check/mark through it

cross over maybe ..?

mazacoin has a similar concept with the checked M see https://bitcointalk.org/index.php?topic=725479.msg8436167#msg8436167
1550578577
Hero Member
*
Offline Offline

Posts: 1550578577

View Profile Personal Message (Offline)

Ignore
1550578577
Reply with quote  #2

1550578577
Report to moderator
1550578577
Hero Member
*
Offline Offline

Posts: 1550578577

View Profile Personal Message (Offline)

Ignore
1550578577
Reply with quote  #2

1550578577
Report to moderator
Your Bitcoin transactions
The Ultimate Bitcoin mixer
made truly anonymous.
with an advanced technology.
Mix coins
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1550578577
Hero Member
*
Offline Offline

Posts: 1550578577

View Profile Personal Message (Offline)

Ignore
1550578577
Reply with quote  #2

1550578577
Report to moderator
1550578577
Hero Member
*
Offline Offline

Posts: 1550578577

View Profile Personal Message (Offline)

Ignore
1550578577
Reply with quote  #2

1550578577
Report to moderator
coinsolidation
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250

Bitmark Developer


View Profile WWW
August 28, 2014, 02:51:01 PM
 #1202

Repurpose

* The mark (₥) is 1⁄1000 of a BTM

cross over maybe ..?

mazacoin has a similar concept with the checked M see https://bitcointalk.org/index.php?topic=725479.msg8436167#msg8436167

Perhaps, let's see if it is a problem as we progress, I see little incorporation of it within their project, it's not in the logo, and we do not know whether that project will mature or slowly die. Possibly some alt coins in addition to mazacoin have proposed or used it too.

My own sentiment is that it's not trademarked, or associated with anything to people's common knowledge, and the domain we will use it in is not really this forum. Put another way, if we looked at font-awesome or an icon pack and saw it listed associated with a company/tech/org then we'd have to abandon, if it's just in a line of text of an alt on a small forum I am not so concerned. Such things are claimed by association through usage, so let's use it and let it be associated with marking in people's minds, usage will claim this little ₥ for us if it is to be.


Bitmark (reputation+money) : Bitmark v0.9.4 (release)
Este Nuno
Legendary
*
Offline Offline

Activity: 826
Merit: 1000


amarha


View Profile
August 28, 2014, 03:00:30 PM
 #1203

Repurpose

* The mark (₥) is 1⁄1000 of a BTM

cross over maybe ..?

mazacoin has a similar concept with the checked M see https://bitcointalk.org/index.php?topic=725479.msg8436167#msg8436167

Perhaps, let's see if it is a problem as we progress, I see little incorporation of it within their project, it's not in the logo, and we do not know whether that project will mature or slowly die. Possibly some alt coins in addition to mazacoin have proposed or used it too.

My own sentiment is that it's not trademarked, or associated with anything to people's common knowledge, and the domain we will use it in is not really this forum. Put another way, if we looked at font-awesome or an icon pack and saw it listed associated with a company/tech/org then we'd have to abandon, if it's just in a line of text of an alt on a small forum I am not so concerned. Such things are claimed by association through usage, so let's use it and let it be associated with marking in people's minds, usage will claim this little ₥ for us if it is to be.



Also, considering it was actually in usage historically it's similar to using the dollar sign for anything that has the word "dollars" in it. Multiple currencies use the dollar sign, it's not restricted to single use. If they had designed the symbol themselves that would be different of course.
coinsolidation
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250

Bitmark Developer


View Profile WWW
August 28, 2014, 03:08:21 PM
 #1204

Also, considering it was actually in usage historically it's similar to using the dollar sign for anything that has the word "dollars" in it. Multiple currencies use the dollar sign, it's not restricted to single use. If they had designed the symbol themselves that would be different of course.

A fine point EsteNuno. We can also consider that we are using the symbol inline with it's time gained meaning too, to denominate 1/1000 of our currency, rather than completely re-purposing it mean a brand. We are just rather fortunate that when you look at the thing it expresses a 'mark' by containing a mark /  being a little m and meaning 1/1000.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
Este Nuno
Legendary
*
Offline Offline

Activity: 826
Merit: 1000


amarha


View Profile
August 28, 2014, 03:52:57 PM
 #1205

Also, considering it was actually in usage historically it's similar to using the dollar sign for anything that has the word "dollars" in it. Multiple currencies use the dollar sign, it's not restricted to single use. If they had designed the symbol themselves that would be different of course.

A fine point EsteNuno. We can also consider that we are using the symbol inline with it's time gained meaning too, to denominate 1/1000 of our currency, rather than completely re-purposing it mean a brand. We are just rather fortunate that when you look at the thing it expresses a 'mark' by containing a mark /  being a little m and meaning 1/1000.

Yes, it's amazing. All these little coincidences coming together like that.
Androidicus
Sr. Member
****
Offline Offline

Activity: 339
Merit: 250


View Profile
August 28, 2014, 09:44:27 PM
 #1206

Network Hashrate: 1.2687 Gh/s

Clearly folks are jumping on and off with difficulty changes...  Roll Eyes

Failure is success waiting to happen...
82ndabnmedic
Full Member
***
Offline Offline

Activity: 250
Merit: 100


View Profile
August 28, 2014, 10:02:16 PM
 #1207

Network Hashrate: 1.2687 g/his

Clearly folks are jumping on and off with difficulty changes...  Roll Eyes

I hope everyone that is mining with this inconsistency understands that it is counterproductive for the following reasons:

1. Not as Profitable

2. Not as Productive

3. Not as Efficient

A 1.0 GH miner that attacks the network in short bursts when the difficulty drops would earn Less BTM profits than A 50 MHs Miner that mines consistently for longer periods of time.

Remember Bitmark requires a 720 confirms, at this rate miners would not receive their BTM for almost 2 days, or more.

Why not mine consistently without having to account for huge difficulty changes, this provides a secure and stable BTM network for everyone.


* To everyone that is mining consistently, Thank You

CISSP | PMP | CEH

Bitmark: Project Manager & PR Coordinator


BTC: 1FEi8MSP3ccoqLah8EcxfGZVHUViEmQfvQ

BTM: bNidDXnRu5fuD8Th7cPFh7jnPdyAhMh7Nr
coinsolidation
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250

Bitmark Developer


View Profile WWW
August 28, 2014, 10:07:03 PM
 #1208

Network Hashrate: 1.2687 Gh/s

Clearly folks are jumping on and off with difficulty changes...  Roll Eyes

Thankfully we have min and max diff adjustments, so it looks like we'll be in a 60-240 cycle for a while.

A positive side is that it means currency is being minted far slower than the schedule, and newly minted currency can be taking 4-5 days to be usable, which leads to a nice low volume stable market. We don't want too much currency being sent out to speculators. Mining is after all a service not a a free money printing machine, so our configuration seems to be rewarding the former whilst voiding the efforts of the latter.

If the network were busy with users we'd have to do something drastic, but for now all it's doing is slowing production and dumping, which is not the worst problem to have.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
Androidicus
Sr. Member
****
Offline Offline

Activity: 339
Merit: 250


View Profile
August 28, 2014, 10:20:16 PM
 #1209

Network Hashrate: 1.2687 Gh/s

Clearly folks are jumping on and off with difficulty changes...  Roll Eyes

Thankfully we have min and max diff adjustments, so it looks like we'll be in a 60-240 cycle for a while.

A positive side is that it means currency is being minted far slower than the schedule, and newly minted currency can be taking 4-5 days to be usable, which leads to a nice low volume stable market. We don't want too much currency being sent out to speculators. Mining is after all a service not a a free money printing machine, so our configuration seems to be rewarding the former whilst voiding the efforts of the latter.

If the network were busy with users we'd have to do something drastic, but for now all it's doing is slowing production and dumping, which is not the worst problem to have.

This is the upside, without a doubt... unfortunately, the 'free money printing machine' ethos seems to endure. And so I am glad of the cycle Smiley

Failure is success waiting to happen...
coinsolidation
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250

Bitmark Developer


View Profile WWW
August 28, 2014, 10:37:00 PM
 #1210

The optimal network hashrate is easy to calculate, say the three day average price (you must work on averages for such a currency with a long maturation) is 0.00019.

Then all you need to do is (14400*0.00019)/price-per-gh. So just now if the network were say at 6 GH/s and stayed at that, then it would be fairly profitable for the average miner, and have optimally timed blocks.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
neleonele
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250

member of GameCredits Dev team


View Profile WWW
August 28, 2014, 10:50:32 PM
 #1211

Network Hashrate: 1.2687 Gh/s

Clearly folks are jumping on and off with difficulty changes...  Roll Eyes

Thankfully we have min and max diff adjustments, so it looks like we'll be in a 60-240 cycle for a while.

A positive side is that it means currency is being minted far slower than the schedule, and newly minted currency can be taking 4-5 days to be usable, which leads to a nice low volume stable market. We don't want too much currency being sent out to speculators. Mining is after all a service not a a free money printing machine, so our configuration seems to be rewarding the former whilst voiding the efforts of the latter.

If the network were busy with users we'd have to do something drastic, but for now all it's doing is slowing production and dumping, which is not the worst problem to have.


Hehehe,just looking....
Here is no quick money.
regards to all loyalty miners.

720confirms,remeber....no multipools.
If u have balls u will mine BTM.


coinsolidation
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250

Bitmark Developer


View Profile WWW
August 28, 2014, 10:54:37 PM
 #1212

Hehehe,just looking....
Here is no quick money.
regards to all loyalty miners.

720confirms,remeber....no multipools.
If u have balls u will mine BTM.

I guess you have balls then, didn't you get 300MH/s of ASICs and point them at BTM!?

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
neleonele
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250

member of GameCredits Dev team


View Profile WWW
August 28, 2014, 11:03:35 PM
 #1213

Hehehe,just looking....
Here is no quick money.
regards to all loyalty miners.

720confirms,remeber....no multipools.
If u have balls u will mine BTM.

I guess you have balls then, didn't you get 300MH/s of ASICs and point them at BTM!?

Not yet my friend,
we didnt resolve electricity,avocations,private stuff,etc...
only few of them works here:D
But in 10-12days will be much more....36kw/h.....industrial.....all time Cool



82ndabnmedic
Full Member
***
Offline Offline

Activity: 250
Merit: 100


View Profile
August 28, 2014, 11:10:06 PM
 #1214

Hehehe,just looking....
Here is no quick money.
regards to all loyalty miners.

720confirms,remeber....no multipools.
If u have balls u will mine BTM.

I guess you have balls then, didn't you get 300MH/s of ASICs and point them at BTM!?

Not yet my friend,
we didnt resolve electricity,avocations,private stuff,etc...
only few of them works here:D
But in 10-12days will be much more....36kw/h.....industrial.....all time Cool


Congrats Neleonele, I hope you get all your rigs running smoothly very soon. Smiley

CISSP | PMP | CEH

Bitmark: Project Manager & PR Coordinator


BTC: 1FEi8MSP3ccoqLah8EcxfGZVHUViEmQfvQ

BTM: bNidDXnRu5fuD8Th7cPFh7jnPdyAhMh7Nr
neleonele
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250

member of GameCredits Dev team


View Profile WWW
August 28, 2014, 11:31:45 PM
 #1215

Hehehe,just looking....
Here is no quick money.
regards to all loyalty miners.

720confirms,remeber....no multipools.
If u have balls u will mine BTM.

I guess you have balls then, didn't you get 300MH/s of ASICs and point them at BTM!?

Not yet my friend,
we didnt resolve electricity,avocations,private stuff,etc...
only few of them works here:D
But in 10-12days will be much more....36kw/h.....industrial.....all time Cool


Congrats Neleonele, I hope you get all your rigs running smoothly very soon. Smiley


Thanks Medic,
we didnt calculate power costs in California with first purchase from Zeus and we bought 8thunders,
then we got them,but mining with 8kwh per 0.16$/kw is to expensive....and electricals company for instalations wonna take 3000$!!!So,now we made special deal with Zeus and bought 18 thunders more...
Now we wait to move miners in to the industrial zone,where we dont need instalations.The owner of that place is on avacation,here in Serbia.

Best way to success is meeting people Cool

@Mark,my friend You dont have idea what power will mine BTM Roll Eyes


statdude
Legendary
*
Offline Offline

Activity: 1484
Merit: 1000



View Profile
August 28, 2014, 11:35:26 PM
 #1216

Whats the most reliable link for network hashrate?

Edit:

Also I am getting a little confused with the difficulty retargets being extremely slow, and what this means for if everyone jumps off as soon as the difficulty increases?

Is it better to mine with a high or low hashrate to difficulty ratio? Haven't thought this one through, although I'll try  Roll Eyes

▄█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█▄
█ ███████████████████████ █
█ █████     █ ▀██████████ █
█ █████     █   ▀████████ █
█ █████  ██ █     ▀██████ █

█ █████  ▀▀ █▄▄▄▄▄▄▄█████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████             █████ █
█ ███████████████████████ █
▀█▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█▀
  Website
    Twitter
      Gitlab
      Reddit
    Telegram
Whitepaper
  ▄█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█▄
█ ███████████████████████ █
█ ███████████████████████ █
█ ███▄    ███████▀   ▄███ █
█ ████▌    █████▀    ████ █
█ ████▌     ███▀     ████ █
█ ████▌▐█    █▀ █    ████ █
█ ████▌▐██     ██    ████ █
█ ████▌▐███   ███    ████ █
█ ███▀  ▀███ ███▀    ▀███ █
█ ███████████████████████ █
█ ███████████████████████ █
▀█▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█▀
coinsolidation
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250

Bitmark Developer


View Profile WWW
August 28, 2014, 11:52:10 PM
 #1217

Whats the most reliable link for network hashrate?

Edit:

Also I am getting a little confused with the difficulty retargets being extremely slow, and what this means for if everyone jumps off as soon as the difficulty increases?

Is it better to mine with a high or low hashrate to difficulty ratio? Haven't thought this one through, although I'll try  Roll Eyes

For almost exact numbers you need to visit the pools and add the rates together.
bitmark.co/statistic/health updates every 60 blocks
in the client you can do 'getnetworkhashps xx' where xx is a number of blocks, advise over 20 due to the randomness of finding blocks.
there are data sources too under bitmark.co/statistics/data/ if you need them.

The difficulty retarget is every 720 blocks, and currently everybody is jumping off, they'll jump back on when it changes I'm sure. So it looks like for a while the difficulty is going to quarter and later quadruple until the cycle is broken by increased demand. The down side of this for miners is that they're making it more expensive for themselves and locking up their newly mined btm for ages. The upside for everybody else is that btm being minted is effectively slowed 2,3,4,5x and new currency minted is locked so can't make it to market. This helps stabilize market prices.

As for your last question, if we simplify it you can mine twice the blocks at half the speed or half the blocks at twice the speed. which is more 2*0.5 or 0.5*2? The percentage of BTM you gain on average correlates directly to your percentage of network hashrate. Difficulty determines the speed at which blocks are found by the network on the whole, it is a target hashrate for the network to reach based on the last 720 blocks average.

The answer to all of the questions succinctly, is that the optimal current network speed for miners is 6 GH/s to maintain a health stable network and fair profit, anybody who mines consistently regardless of network speed or difficulty will always have the lowest overall cost, anybody who jumps on and off will have the highest.

There appears to be a huge amount of misinformation given to miners, even things like profitability calculators, to calculate a profit on currency which cannot even be moved for days with fluctuating markets is pure speculation at best, outright lies at worst.


Bitmark (reputation+money) : Bitmark v0.9.4 (release)
statdude
Legendary
*
Offline Offline

Activity: 1484
Merit: 1000



View Profile
August 29, 2014, 12:41:28 AM
 #1218

Whats the most reliable link for network hashrate?

Edit:

Also I am getting a little confused with the difficulty retargets being extremely slow, and what this means for if everyone jumps off as soon as the difficulty increases?

Is it better to mine with a high or low hashrate to difficulty ratio? Haven't thought this one through, although I'll try  Roll Eyes

For almost exact numbers you need to visit the pools and add the rates together.
bitmark.co/statistic/health updates every 60 blocks
in the client you can do 'getnetworkhashps xx' where xx is a number of blocks, advise over 20 due to the randomness of finding blocks.
there are data sources too under bitmark.co/statistics/data/ if you need them.

The difficulty retarget is every 720 blocks, and currently everybody is jumping off, they'll jump back on when it changes I'm sure. So it looks like for a while the difficulty is going to quarter and later quadruple until the cycle is broken by increased demand. The down side of this for miners is that they're making it more expensive for themselves and locking up their newly mined btm for ages. The upside for everybody else is that btm being minted is effectively slowed 2,3,4,5x and new currency minted is locked so can't make it to market. This helps stabilize market prices.

As for your last question, if we simplify it you can mine twice the blocks at half the speed or half the blocks at twice the speed. which is more 2*0.5 or 0.5*2? The percentage of BTM you gain on average correlates directly to your percentage of network hashrate. Difficulty determines the speed at which blocks are found by the network on the whole, it is a target hashrate for the network to reach based on the last 720 blocks average.

The answer to all of the questions succinctly, is that the optimal current network speed for miners is 6 GH/s to maintain a health stable network and fair profit, anybody who mines consistently regardless of network speed or difficulty will always have the lowest overall cost, anybody who jumps on and off will have the highest.

There appears to be a huge amount of misinformation given to miners, even things like profitability calculators, to calculate a profit on currency which cannot even be moved for days with fluctuating markets is pure speculation at best, outright lies at worst.



Thanks Mark:
The answer to my question was obvious, all that is effectively happening is the slowing of blocks.

Thanks for the handy equation for equilibrium hash as well, very useful.


▄█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█▄
█ ███████████████████████ █
█ █████     █ ▀██████████ █
█ █████     █   ▀████████ █
█ █████  ██ █     ▀██████ █

█ █████  ▀▀ █▄▄▄▄▄▄▄█████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████  ▄▄▄▄▄▄▄▄▄  █████ █
█ █████             █████ █
█ ███████████████████████ █
▀█▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█▀
  Website
    Twitter
      Gitlab
      Reddit
    Telegram
Whitepaper
  ▄█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█▄
█ ███████████████████████ █
█ ███████████████████████ █
█ ███▄    ███████▀   ▄███ █
█ ████▌    █████▀    ████ █
█ ████▌     ███▀     ████ █
█ ████▌▐█    █▀ █    ████ █
█ ████▌▐██     ██    ████ █
█ ████▌▐███   ███    ████ █
█ ███▀  ▀███ ███▀    ▀███ █
█ ███████████████████████ █
█ ███████████████████████ █
▀█▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█▀
gotthemeaning
Full Member
***
Offline Offline

Activity: 235
Merit: 100


View Profile
August 29, 2014, 01:00:29 AM
 #1219

So renting a mining rig would be unprofitable?

82ndabnmedic
Full Member
***
Offline Offline

Activity: 250
Merit: 100


View Profile
August 29, 2014, 01:10:58 AM
 #1220

So renting a mining rig would be unprofitable?


This varies largely on the Market price. When your BTM makes it to market, more than 24 hours have passed and the conditions that existed when you started mining may no longer exist.

That being said, mining Bitmark will always be most efficient & profitable if done in longer increments (3 or more days of consistent hash)

CISSP | PMP | CEH

Bitmark: Project Manager & PR Coordinator


BTC: 1FEi8MSP3ccoqLah8EcxfGZVHUViEmQfvQ

BTM: bNidDXnRu5fuD8Th7cPFh7jnPdyAhMh7Nr
Pages: « 1 ... 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 [61] 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 ... 170 »
  Print  
 
Jump to:  

Bitcointalk.org is not available or authorized for sale. Do not believe any fake listings.
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!