Bitmark

[coinsolidation]

You forgot the small miners.
I was the one who mined the first block (thank you for the honor and I mean it   ).

I am a small miner also, you and I mined the first 16 blocks between us I think.
The pool had 90mh/s from the start, but it would not work until block 16 had passed due to a bug in stratum-mining.

The next second I saw 2Gh/s and guys with 600 Mh/s mine it.
I said to my self, another failed launch.
You know, small miners like to earn some coins too, and they are the basis of a community.
This is not gonna be happen with me, with 0.001 coins per round.
Make your community with the 20 guys who mine with 30-500 Mh/s and earn all the coins.
When they gone maybe I will return.

Some people who wanted some Bitmarks hired some mining rigs to get some early.

It is fair, we get out an amount which corresponds to the hashing we put in. I only have 270 BTM so far.

In the future if any percentage gain in value is earned, it will apply to every bitmark.

You are a small miner, you will have a small share but the same ROI, the same stands for me.

If any of us would like more Bitmarks all we can do is mine them or ask a miner if we can buy some off them.

The best network we can have is where people mine because they want to support the network and get some BTM for themselves. If you are doing it for short term profit then this is not the coin for you. It has no value yet. To get a large amount for nothing, then to cash in on other people's hard work, now that would be unfair.

The more long term small miners we have, the harder it will be for anybody to gain an unfair advantage by diverting resources. If you want a strong distributed network then you should stay and mine through all hashrates and difficulties.

The word launch is maybe wrong, I think of it more as showing people the foundations on which we will create something along with the idea of what we will make.
If you like what you see then come and help us build something which has value, and if you feel it will and would like a stake, then contribute some hashing power to the network to claim some of it for yourself.

top of page links
1. Analysis of how the Bitmark release went
2. Create a network of thin clients
3. Establishing priorities

[Este Nuno]

Developer Analysis

I am very pleased with the launch of Bitmark. No bugs have been reported.

Mining has been interesting, the opposite of what normally happens when an alternative coin is launched.

Normally alt coins are hash-raped by people with mining hardware, ready to be dumped on 'investors' at an exchange. Mine a coin to dump for BTC.
Instead with Bitmark we find investors hiring mining rigs, with no exchange planned. Burn BTC to mine and keep Bitmarks.

You forgot the small miners.
I was the one who mined the first block (thank you for the honor and I mean it   ).
The next second I saw 2Gh/s and guys with 600 Mh/s mine it.
I said to my self, another failed launch.
You know, small miners like to earn some coins too, and they are the basis of a community.
This is not gonna be happen with me, with 0.001 coins per round.
Make your community with the 20 guys who mine with 30-500 Mh/s and earn all the coins.
When they gone maybe I will return.

What do you suggest can be done about that? Most of us here are all small miners too you know. Even coinsolidation who created this whole thing himself. I can see him on the mining pool right now at only ~11mhs.

It's still probably worth it to mine even with just a few mh. I am doing it. I'd like to make sure I can have at least a few BTM for the long run.

[Len]

Just sent 200 BTM to the foundation address

[cryptozim]

Developer Analysis

I am very pleased with the launch of Bitmark. No bugs have been reported.

Mining has been interesting, the opposite of what normally happens when an alternative coin is launched.

Normally alt coins are hash-raped by people with mining hardware, ready to be dumped on 'investors' at an exchange. Mine a coin to dump for BTC.
Instead with Bitmark we find investors hiring mining rigs, with no exchange planned. Burn BTC to mine and keep Bitmarks.

You forgot the small miners.
I was the one who mined the first block (thank you for the honor and I mean it   ).
The next second I saw 2Gh/s and guys with 600 Mh/s mine it.
I said to my self, another failed launch.
You know, small miners like to earn some coins too, and they are the basis of a community.
This is not gonna be happen with me, with 0.001 coins per round.
Make your community with the 20 guys who mine with 30-500 Mh/s and earn all the coins.
When they gone maybe I will return.

What do you suggest can be done about that? Most of us here are all small miners too you know. Even coinsolidation who created this whole thing himself. I can see him on the mining pool right now at only ~11mhs.

It's still probably worth it to mine even with just a few mh. I am doing it. I'd like to make sure I can have at least a few BTM for the long run.

I'm mining with ~2.5MH. Like anyone, I'd like a bigger piece of the pie, but with the new Asics, there's a lot of hash power out there without a profitable target to point it at.

I do plan on mining Bitmark long term. I tend to get distracted, and jump around to different coins, but I just ordered 2 Zeus Blizzards (1.3MH each) to point at Bitmark, while I use my 4x7950 rig to flit around to whatever shiny coin I'm looking at that day.

[coinsolidation]

I'm mining with ~2.5MH. Like anyone, I'd like a bigger piece of the pie, but with the new Asics, there's a lot of hash power out there without a profitable target to point it at.

I do plan on mining Bitmark long term. I tend to get distracted, and jump around to different coins, but I just ordered 2 Zeus Blizzards (1.3MH each) to point at Bitmark, while I use my 4x7950 rig to flit around to whatever shiny coin I'm looking at that day.

Thank you for your support.

Just sent 200 BTM to the foundation address

This is very commendable. To me this is even better than saying you had just donated 200 BTC.

Thank you.

[Len]

No worries, ill swap you 200 BTC for another 200 BTM if you want haha

[Len]

I sent it through as I like what you are doing here with the whole organic growth from the ground up.  Seems like its attracting good members from the community also.  Active development is the main criteria in choosing my investments and I can see this project doing well.

[Androidicus]

I sent it through as I like what you are doing here with the whole organic growth from the ground up.  Seems like its attracting good members from the community also.  Active development is the main criteria in choosing my investments and I can see this project doing well.

Echo that ^^^ !

I sent 50BTM to the Foundation Address a few hours ago... for the exact same reason.

I cannot afford to keep all my hash on BTM as need to cover power etc. etc. But there's a liitle GS 5 chip going to be perma-pointed at it - there's 360 kh/s you can rely on Mark!

 

[dannygroove]

Cant get the wallet to sync can anyone help me?

[coinsolidation]

Cant get the wallet to sync can anyone help me?

Have you checked if it is blocked by a firewall? This is most likely.

The wallet automatically connects to seed nodes on start-up, all of them are active. You should get a few connections within seconds.

If you still have problems, PM me and I will debug it with you by giving you nodes to add and checking the debug logs.

[dannygroove]

Cant get the wallet to sync can anyone help me?

Have you checked if it is blocked by a firewall? This is most likely.

The wallet automatically connects to seed nodes on start-up, all of them are active. You should get a few connections within seconds.

If you still have problems, PM me and I will debug it with you by giving you nodes to add and checking the debug logs.

When I start the client it says loading addresses and then it says: Generated but not accepted. I get 8 connections but it doesn't sync.

[coinsolidation]

When I start the client it says loading addresses and then it says: Generated but not accepted. I get 8 connections but it doesn't sync.

It looks like you have mined an orphan block, and are possibly on your own fork.

Start the wallet with -rescan and -reindex to fix.

If it does not, close bitmark, delete the debug.log, restart bitmark then send me the output of debug.log.

[dannygroove]

It helped! got it working thanks

[prix]

I think the current difficulty algorithm is not best choice.
He is too slow to respond to changing network hashrate.
Someone can mine with high power at low difficult and leave when the difficulty rise. Then when the difficulty decreases - mine again. Same story like with Doge. They changed the difficulty algorithm by same reason.

Sent 251.00 BTM to The Bitmark Foundation (bQmnzVS5M4bBdZqBTuHrjnzxHS6oSUz6cG).

[powersup]

I think the current difficulty algorithm is not best choice.
He is too slow to respond to changing network hashrate.
Someone can mine with high power at low difficult and leave when the difficulty rise. Then when the difficulty decreases - mine again. Same story like with Doge. They changed the difficulty algorithm by same reason.

Sent 251.00 BTM to The Bitmark Foundation (bQmnzVS5M4bBdZqBTuHrjnzxHS6oSUz6cG).

I agree.

Once the initial hype is over and network hashrate drops I believe the diff algo will need to change.

[coinsolidation]

I think the current difficulty algorithm is not best choice.
He is too slow to respond to changing network hashrate.
Someone can mine with high power at low difficult and leave when the difficulty rise. Then when the difficulty decreases - mine again. Same story like with Doge. They changed the difficulty algorithm by same reason.

Sent 251.00 BTM to The Bitmark Foundation (bQmnzVS5M4bBdZqBTuHrjnzxHS6oSUz6cG).

Thank you for your kind donation to the Bitmark Foundation, it will do much to help the future of our project.

Once the initial hype is over and network hashrate drops I believe the diff algo will need to change.

I would like to give the algorithm more than a day or two to see how it performs.

We are currently mining blocks on schedule, and the block time is reasonable for users.

More importantly, today a fully documented proposal is to be released which will address the issue of difficulty volatility for Bitmark. It will be published in the coming the hours.

[Androidicus]

I am mortally offended & upset that I received no acknowledgement of my paltry 50 BTM donation... 

Only joking..!

I sent it through as I like what you are doing here with the whole organic growth from the ground up.  Seems like its attracting good members from the community also.  Active development is the main criteria in choosing my investments and I can see this project doing well.

Echo that ^^^ !

I sent 50BTM to the Foundation Address a few hours ago... for the exact same reason.

I cannot afford to keep all my hash on BTM as need to cover power etc. etc. But there's a liitle GS 5 chip going to be perma-pointed at it - there's 360 kh/s you can rely on Mark!

 

[coinsolidation]

I am mortally offended & upset that I received no acknowledgement of my paltry 50 BTM donation... 

Only joking..!

Sorry Androidicus I forgot to say you were already credited on the ANN since yesterday, I had a thank you reply drafted and was then distracted by helping Danny.

I know you are joking, but I want you to know that I am sorry for the oversight, and value your donation of both BTM and time as much as any other.

Shortly I will have a proposal ready which takes 5 minutes to read, if anybody is available to take a look at it before posting it here, could they pm me or join the irc room.

Thank you.

[Androidicus]

I am mortally offended & upset that I received no acknowledgement of my paltry 50 BTM donation... 

Only joking..!

Sorry Androidicus I forgot to say you were already credited on the ANN since yesterday, I had a thank you reply drafted and was then distracted by helping Danny.

I know you are joking, but I want you to know that I am sorry for the oversight, and value your donation of both BTM and time as much as any other.

Shortly I will have a proposal ready which takes 5 minutes to read, if anybody is available to take a look at it before posting it here, could they pm me or join the irc room.

Thank you.

  That'll teach me not to re-visit the ANN often enough! Now I feel plain stoopid..!

Seriously though, in spite of a few FUD comments here and there (which naturally goes with the territory) I continue to be impressed with the commitment and endeavour of both yourself and the supporting community to Bitmark.

Keep up the good work...

[Este Nuno]

What are we expecting the difficulty to adjust to tomorrow?

Half of what it is now?