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Author Topic: [ANN] [eTaler] ElectricTaler | Launch 7/11/2014 - 18UTC  (Read 21221 times)
zmhaha
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July 07, 2014, 09:55:02 PM
 #21

100mil coins total @ 10 coins/block = 10mil blocks
5mins/block for 10mil blocks = total of 95 years of mining, assuming reward does not half.

So the 10000 premine = 1000blocks = 0.01% total coins = all coins generated from the first 3.5 days.

There will be only about 86400 coins mined each MONTH. So the premine is about 11% of total coins available for the 1st month of the coin.
So it is a very big chunk of premine.
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July 07, 2014, 09:56:46 PM
 #22

any single premine is bad. premine means the developer(s) has no money to support their own coins and waiting for a miracle.

I don't agree here ..why should only the miners profit form each coin..why not the Developers and promoters also who help to get the word out.people mine for themselves only but developers and promoters help to create and also bring more value to the coin..all three need to work together so miners should allow others also to earn from cryptocurrencies, no offense.. many people can't mine but can offer other services and also devs should have the right to earn from their own coins..Alts should be for everyone.. Smiley.. Just my 2 etalers..I think 0.01 premine also is nothing in a span of 100 years of miners getting the loot.
 Cheesy
Blog review ready..

http://bitbillions.net/2014/07/07/altcoin-review-etaler-coin-miners-will-love-this-altcoin/   Smiley


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July 07, 2014, 09:59:00 PM
 #23

100mil coins total @ 10 coins/block = 10mil blocks
5mins/block for 10mil blocks = total of 95 years of mining, assuming reward does not half.

So the 10000 premine = 1000blocks = 0.01% total coins = all coins generated from the first 3.5 days.

There will be only about 86400 coins mined each MONTH. So the premine is about 11% of total coins available for the 1st month of the coin.
So it is a very big chunk of premine.

o.k then if all the peeps who don't want premine are prepared to DONATE to the DEV to pay for promos and everything else..they should cough up the readies.. people always scream premine premine but they are usually the first to dump the coin on an exchange and offer nothing but getting a quick buck form mining one coin then killing it and off to another.. If you all don't want premine then contribute to a fund to pay for all the promo work needed. Cheesy


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zmhaha
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July 07, 2014, 10:10:30 PM
Last edit: July 07, 2014, 10:25:34 PM by zmhaha
 #24

100mil coins total @ 10 coins/block = 10mil blocks
5mins/block for 10mil blocks = total of 95 years of mining, assuming reward does not half.

So the 10000 premine = 1000blocks = 0.01% total coins = all coins generated from the first 3.5 days.

There will be only about 86400 coins mined each MONTH. So the premine is about 11% of total coins available for the 1st month of the coin.
So it is a very big chunk of premine.

o.k then if all the peeps who don't want premine are prepared to DONATE to the DEV to pay for promos and everything else..they should cough up the readies.. people always scream premine premine but they are usually the first to dump the coin on an exchange and offer nothing but getting a quick buck form mining one coin then killing it and off to another.. If you all don't want premine then contribute to a fund to pay for all the promo work needed. Cheesy

So his/her promos will last 95 years? People scream about premine because they don't want a liability, in this case 11% of total coins in the 1st month.
Miners dump their coins because they choose to, it is theirs to dump. But why they choose to dump? oh there are too many reasons. But all of them boil down to that people are not confident about the coin to hold it. And a big premine contributes to that, A LOT, especially when a DEV is not widely known to be trustworthy, as well as his/her competence.

In fact people just don't want a massive amount of coins being held by one or a few people when there is only so few of the coin in public circulation. Because if the DEV decides to be out, he can destroy the whole coin instantly. So who wants such possibility exists?
If you say a coin needs fund to be promoted and developed, I agree. But do you also agree what I said above?

So it is much better if DEV can do something like X amount of block rewards for each block goes to a address that will be used for Promo/development. Why many DEVs don't wanna do that? Well because it is too slow, and they lose the ability to cash out big instantly.
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July 07, 2014, 10:40:37 PM
 #25

100mil coins total @ 10 coins/block = 10mil blocks
5mins/block for 10mil blocks = total of 95 years of mining, assuming reward does not half.

So the 10000 premine = 1000blocks = 0.01% total coins = all coins generated from the first 3.5 days.

There will be only about 86400 coins mined each MONTH. So the premine is about 11% of total coins available for the 1st month of the coin.
So it is a very big chunk of premine.

o.k then if all the peeps who don't want premine are prepared to DONATE to the DEV to pay for promos and everything else..they should cough up the readies.. people always scream premine premine but they are usually the first to dump the coin on an exchange and offer nothing but getting a quick buck form mining one coin then killing it and off to another.. If you all don't want premine then contribute to a fund to pay for all the promo work needed. Cheesy

So his/her promos will last 95 years? People scream about premine because they don't want a liability, in this case 11% of total coins in the 1st month.
Miners dump their coins because they choose to, it is theirs to dump. But why they choose to dump? oh there are too many reasons. But all of them boil down to that people are not confident about the coin to hold it. And a big premine contributes to that, A LOT, especially when a DEV is not widely known to be trustworthy, as well as his/her competence.

In fact people just don't want a massive amount of coins being held by one or a few people when there is only so few of the coin in public circulation. Because if the DEV decides to be out, he can destroy the whole coin instantly. So who wants such possibility exists?
If you say a coin needs fund to be promoted and developed, I agree. But do you also agree what I said above?

So it is much better if DEV can do something like X amount of block rewards for each block goes to a address that will be used for Promo/development. Why many DEVs don't wanna do that? Well because it is too slow, and they lose the ability to cash out big instantly.

I see your point but we need to give the DEV benefit of the doubt..If he is sincerely paying for promos and bounties then not all the coin will be in one person's hands but it will be distributed.. I thik a 0.1% premine is small and the fact the coin is going to be quite rare for a while will add value to the Coin..  Smiley. So if all the early adopter, miners don't dump hard could be a really nice coin to hold..plus there are many things coming in the wallet.. Smiley


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zmhaha
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July 08, 2014, 02:39:23 AM
Last edit: July 08, 2014, 02:50:25 AM by zmhaha
 #26

100mil coins total @ 10 coins/block = 10mil blocks
5mins/block for 10mil blocks = total of 95 years of mining, assuming reward does not half.

So the 10000 premine = 1000blocks = 0.01% total coins = all coins generated from the first 3.5 days.

There will be only about 86400 coins mined each MONTH. So the premine is about 11% of total coins available for the 1st month of the coin.
So it is a very big chunk of premine.

o.k then if all the peeps who don't want premine are prepared to DONATE to the DEV to pay for promos and everything else..they should cough up the readies.. people always scream premine premine but they are usually the first to dump the coin on an exchange and offer nothing but getting a quick buck form mining one coin then killing it and off to another.. If you all don't want premine then contribute to a fund to pay for all the promo work needed. Cheesy

So his/her promos will last 95 years? People scream about premine because they don't want a liability, in this case 11% of total coins in the 1st month.
Miners dump their coins because they choose to, it is theirs to dump. But why they choose to dump? oh there are too many reasons. But all of them boil down to that people are not confident about the coin to hold it. And a big premine contributes to that, A LOT, especially when a DEV is not widely known to be trustworthy, as well as his/her competence.

In fact people just don't want a massive amount of coins being held by one or a few people when there is only so few of the coin in public circulation. Because if the DEV decides to be out, he can destroy the whole coin instantly. So who wants such possibility exists?
If you say a coin needs fund to be promoted and developed, I agree. But do you also agree what I said above?

So it is much better if DEV can do something like X amount of block rewards for each block goes to a address that will be used for Promo/development. Why many DEVs don't wanna do that? Well because it is too slow, and they lose the ability to cash out big instantly.

I see your point but we need to give the DEV benefit of the doubt..If he is sincerely paying for promos and bounties then not all the coin will be in one person's hands but it will be distributed.. I thik a 0.1% premine is small and the fact the coin is going to be quite rare for a while will add value to the Coin..  Smiley. So if all the early adopter, miners don't dump hard could be a really nice coin to hold..plus there are many things coming in the wallet.. Smiley

Well you kinda said it yourself. "If he is sincerely paying for promos and bounties".
So is he? Who can guarantee that? No one can. Thats why people don't like this kind of premine.
Even assuming he is, how fast are those 10k coin get distributed as bounties & promo??
     If it is fast, so a lot of coins got into the free market in a short period of time.
     If it is long term and slow, it is fine, however again the question goes back to that is he really going to hold them for bounties & promo?

0.1% premine is small, BUT it is out of context! You said it yourself the coin is going to be rare for a while, but not for the DEV.
     At launch, the DEV will possess 10k coin. 1 week after launch, total POW coin will be only 20.16k.
     So the premine = 33% of total coin in existence after 1 week of launch, or 11% of that after 30 days of launch!
We are not at those good golden days of alt coins at more. So it is VERY BIG.

How about I create a coin that can be mined out for 1000 years. and I take 0.0001% as premine at launch? 0.0001% is small!!
Or I can do better if I make the block reward increase over time so that most of the coin only get mined at the last 10 years of the 1000 year and I take only 0.0000001% premine at launch.

I agree every DEV should get paid for his work and support, also not to bounties & promo.
But, I certainly hate the "salary" or the "bounties & promo" got taken out as a lump sum at the very beginning!
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July 08, 2014, 01:17:49 PM
 #27

sha 512?Huh

.
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July 08, 2014, 01:20:12 PM
 #28

Sha 512 ? Mine with ? Asic? Gpu ? First time i see this algorhytm

MemoryCoin uses SHA-512, too. It's more than 8 month old so it is not new algorithm but great to see a POW coin.


ok, but use asic sha256 for mining?

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Mxrider420z
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July 08, 2014, 07:19:15 PM
 #29

Portuguese translation done, please add to op > https://bitcointalk.org/index.php?topic=682477.0

thanks

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July 09, 2014, 09:24:39 AM
 #30

100mil coins total @ 10 coins/block = 10mil blocks
5mins/block for 10mil blocks = total of 95 years of mining, assuming reward does not half.

So the 10000 premine = 1000blocks = 0.01% total coins = all coins generated from the first 3.5 days.

There will be only about 86400 coins mined each MONTH. So the premine is about 11% of total coins available for the 1st month of the coin.
So it is a very big chunk of premine.

After 2 months its 5.5% and after 1 year its less then 1%. i want not to make another dump&run coin, i think bigger  Wink
I know trusting is a huge problem in alt-coin business and i can't do anything to change it.

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July 09, 2014, 12:26:29 PM
 #31

Russian translation done... please add https://bitcointalk.org/index.php?topic=683428.0
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July 09, 2014, 02:03:24 PM
Last edit: July 09, 2014, 03:48:32 PM by BullFrog
 #32

I claim German translation - will be finished in a couple of hours. Nice named coin , like it.

--------------------------------------------------------------------------------------

German translation done, please add to op: https://bitcointalk.org/index.php?topic=683660.0
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July 09, 2014, 02:18:15 PM
 #33

Sha 512 ? Mine with ? Asic? Gpu ? First time i see this algorhytm

MemoryCoin uses SHA-512, too. It's more than 8 month old so it is not new algorithm but great to see a POW coin.

What tool Memorycoin mine with?
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July 09, 2014, 02:28:10 PM
 #34

Is CPU efficient at all on SHA-512?

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July 09, 2014, 02:39:25 PM
 #35

Interesting concept to only allow in application mining with your client while trying to take power usage into account.

It looks like you are providing precompiled wallets with the mining code in them, are you planning to post the code before the launch so it can be examined to see what it is doing on the client?
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July 09, 2014, 02:54:46 PM
 #36

 the shop looks miserable

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Zeloin
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July 09, 2014, 03:33:50 PM
 #37

Only solo mining. So interesting, take place.

litecoin111
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July 09, 2014, 04:12:14 PM
 #38

solo mine only..hmm I am on the fence about this...
Litoshi
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July 09, 2014, 10:19:08 PM
 #39

GPU miner for SHA 512 coins available here:

http://dl.mmcpool.com/gpu/mmcpool-gpu-miner-windows-x64.zip

also here:

http://mmcdl.1gh.com/mc2-1gh-win.zip

djm34
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July 10, 2014, 12:45:59 AM
 #40

is it sha512 or momentum (mmc isn't sha512 a small fraction is hashed through sha512... paraphrasing mmc OP).

Is dev knows what is the algo used by his coin, or did he just cloned MMC ? (that is the question...)


edit: what is so special with the 11th of july that everybody releases a cpu only coin ?  Huh
(can you push that to an other date ?)

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