[ANN][AID] AidBit | Digital-currency redefined | POW/POS | Groestl | Charity

[AidBit]

Portuguese translation Bitcointalk:

https://bitcointalk.org/index.php?topic=721728.new#new

Independent Portuguese Group on Facebook (Portuguese or not you all welcome):

https://www.facebook.com/groups/1472438226347709/

Well done Satirico! Thank you!

[HR]

21:46:34

PoS on deck.

T-3 minutes

 

Add: had my math off by 10 minutes, and it looks like it's late to boot.

Add: don't know    BTW, anyone got any theories on why the difficulty suddenly fluctuates from the low 40's down to the teens? (Check out the series from 23430 to 23450 for an example.) Pretty far fetched to think that profitability miners are coming and going, wouldn't it be? Still no PoS. Hum.

Add: thought I was on to something there, but I had only looked at 4 hours of recent BE history, now after going further back, I see that I'd better not hold my breath on this countdown.  

[AidBit]

21:46:34

PoS on deck.

T-3 minutes

 

Add: had my math off by 10 minutes, and it looks like it's late too boot.

Add: don't know    BTW, anyone got any theories on why the difficulty suddenly fluxuates from the low 40's down to the teens? (Check out the series from 23430 to 23450 for an example.) Still no PoS. Hum.

I just restarted mayas pool wallet, maybe you noticed that. Tomorrow we will start, as announced with pool database cleanup. Also the redundancy daemons will be setup on the pools. That means each pool will be closed for about 8 hours, until all mined blocks are confirmed and payed out. I'll check the POS immediately.

[HR]

I just restarted mayas pool wallet, maybe you noticed that. Tomorrow we will start, as announced with pool database cleanup. Also the redundancy daemons will be setup on the pools. That means each pool will be closed for about 8 hours, until all mined blocks are confirmed and payed out. I'll check the POS immediately.

Will the pools be closed on a rotating basis (failovers will work) or will they all go down together?

[AidBit]

I just restarted mayas pool wallet, maybe you noticed that. Tomorrow we will start, as announced with pool database cleanup. Also the redundancy daemons will be setup on the pools. That means each pool will be closed for about 8 hours, until all mined blocks are confirmed and payed out. I'll check the POS immediately.

Will the pools be closed on a rotating basis (failovers will work) or will they all go down together?

Of course. Failovers will still work. The mining control will automatically switch to one of the other pools, even when CPU-mining. By design, minerd doesn't support fallback, so we had to implement it specially.

[vger888]

Good morning. Just a quick info: Windows installer now features on demand download of the blockchain, which makes AidBit Setup executable much smaller.

Cheers,

V.

[smallkite]

there are so many forks,and you want it go to plantform of "C",

I think if the support of "C" is stupied ,you can have a success.  if not,so,you will a pig!!!

a very good coin have a very stupied dev
n
waste my time and money!

you have many different wallets,but the last wallet is still not working!!!!

what can isay ?

what can you say?

[AidBit]

there are so many forks,and you want it go to plantform of "C",

I think if the support of "C" is stupied ,you can have a success.  if not,so,you will a pig!!!

a very good coin have a very stupied dev
n
waste my time and money!

you have many different wallets,but the last wallet is still not working!!!!

what can isay ?

what can you say?

There are no forks whatsoever. The latest wallet works great. Regarding the trading platform, we are open to suggestions but prefer exchange to Fiat on the same platform.

Please stop trolling.

AidBit

[AidBit]

I saw that other altcoins are being created with the same ideas. We have competition...hardcore competition. This one called hyperstake  pays 750% interest on all saved coins. Its experimental and only x11 so not as efficient as groestl but the idea of encouraging saving is becoming more prevalent. I understand what your saying about having the freedom to do what ever you want with your money. What I'm saying is that some people actually want to make more interest on their money by putting it into those types of unspendable long term accounts. In other words I like the freedom to choose from different savings options. It adds diversity to the types of users you would attract. So right now the base POS system begins to mature after 7 days for up to 2 years at 20% interest and can be sold at any time during the maturation process. What I'm proposing is not to change what you already have but to add the option to make the account unspendable for the same amount of time with say 60% interest? and possibly in the future 4 years and 8 years options. I understand from a dev point of view this just sounds like more work but from a consumer point of view its exciting.

Actually I get your point, but when we were selecting the percentages, we wanted to stay as down to earth as possible. Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin. For the time being we will direct all our energy into marketing and trading and then slowly begin with humanitarian projects. Don't get me wrong, your idea is good but if we want to succeed we need to stay focused on our main goals. There will be plenty of time to improve and expand and believe me when I say, we will. Actually one of the ideas - built in decentralized trading platform - would also be perfect place for the introduction of long-term deposits.

Thank you,

AidBit

[idad01]

I saw that other altcoins are being created with the same ideas. We have competition...hardcore competition. This one called hyperstake  pays 750% interest on all saved coins. Its experimental and only x11 so not as efficient as groestl but the idea of encouraging saving is becoming more prevalent. I understand what your saying about having the freedom to do what ever you want with your money. What I'm saying is that some people actually want to make more interest on their money by putting it into those types of unspendable long term accounts. In other words I like the freedom to choose from different savings options. It adds diversity to the types of users you would attract. So right now the base POS system begins to mature after 7 days for up to 2 years at 20% interest and can be sold at any time during the maturation process. What I'm proposing is not to change what you already have but to add the option to make the account unspendable for the same amount of time with say 60% interest? and possibly in the future 4 years and 8 years options. I understand from a dev point of view this just sounds like more work but from a consumer point of view its exciting.

Actually I get your point, but when we were selecting the percentages, we wanted to stay as down to earth as possible. Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin. For the time being we will direct all our energy into marketing and trading and then slowly begin with humanitarian projects. Don't get me wrong, your idea is good but if we want to succeed we need to stay focused on our main goals. There will be plenty of time to improve and expand and believe me when I say, we will. Actually one of the ideas - built in centralized trading platform - would also be perfect place for the introduction of long-term deposits.

Thank you,

AidBit

NICE

[virgojeep]

I saw that other altcoins are being created with the same ideas. We have competition...hardcore competition. This one called hyperstake  pays 750% interest on all saved coins. Its experimental and only x11 so not as efficient as groestl but the idea of encouraging saving is becoming more prevalent. I understand what your saying about having the freedom to do what ever you want with your money. What I'm saying is that some people actually want to make more interest on their money by putting it into those types of unspendable long term accounts. In other words I like the freedom to choose from different savings options. It adds diversity to the types of users you would attract. So right now the base POS system begins to mature after 7 days for up to 2 years at 20% interest and can be sold at any time during the maturation process. What I'm proposing is not to change what you already have but to add the option to make the account unspendable for the same amount of time with say 60% interest? and possibly in the future 4 years and 8 years options. I understand from a dev point of view this just sounds like more work but from a consumer point of view its exciting.

Actually I get your point, but when we were selecting the percentages, we wanted to stay as down to earth as possible. Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin. For the time being we will direct all our energy into marketing and trading and then slowly begin with humanitarian projects. Don't get me wrong, your idea is good but if we want to succeed we need to stay focused on our main goals. There will be plenty of time to improve and expand and believe me when I say, we will. Actually one of the ideas - built in centralized trading platform - would also be perfect place for the introduction of long-term deposits.

Thank you,

AidBit

Thank you for your straight forward answer. I'm glad that your keeping it in mind for people like myself. Did you mean to say decentralized distributed trading platform? That would surely make it convenient for people to trade and mine all through their wallet. I look forward to it.

[HR]

Quick 24 Hour Stats Update (Block Explorer, period ending 2014-08-03 11:32:00 UTC)

Average diff = 20,87701891 (sgminer average diff = 21,25588412)
Average Network Hashrate = 1,630 GH/s
Total Gross Payout = 265,330
Total Net Payout = 228,183
Average Gross Reward = 160,12673506
Average Net Reward = 137,70899215

--------------------------o--------------------------

And I've come up with these shorthand formulas that are as accurate as anything I've been able to come up with
(they're almost never right on the dot – almost always just a hair above OR a hair below real eventual payout).

Next Reward Quick Calculator = 7.67 * diff
Network Hashrate Quick Calculator = 78,07 * diff

[thenite0wl]

Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.

in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.

[AidBit]

Thank you for your straight forward answer. I'm glad that your keeping it in mind for people like myself. Did you mean to say decentralized distributed trading platform? That would surely make it convenient for people to trade and mine all through their wallet. I look forward to it.

Sorry, typo corrected.

[AidBit]

Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.

in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.

There's nothing that brings the value down more than unstable network. We had to fix that first, before continuing with anything else. We will put the rewards schedule on our top priorities list, although in our case it'll be more prediction/estimation than schedule.

[HR]

Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.

in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.

You can extrapolate and hypothesize to get a general idea.

Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea.

Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable.

And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units.

I wouldn't worry too much about the numbers - it's the base product that counts!

[AidBit]

Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.

in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.

You can extrapolate and hypothesize to get a general idea.

Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea.

Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable.

And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units.

I wouldn't worry too much about the numbers - it's the base product that counts!

I couldn't say it better my self. Thank you!

[thenite0wl]

in the crypto world if you have a supply in the billions your relegated to the satoshi 'bargain bin'.

[HR]

Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.

in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.

You can extrapolate and hypothesize to get a general idea.

Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea.

Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable.

And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units.

I wouldn't worry too much about the numbers - it's the base product that counts!

I couldn't say it better my self. Thank you!

I think, with that, you just did!

Nice to have confirmation that my "numbers" are more or less on track (not to mention the same on what's really fundamental for long term success) - I know you guys have this studied way better than I do.

Oh, and, my pleasure.

[minersday]

btw.

http://cryptohunger.com:81/

has also AidBit pool