[INF8] Infinium-8. Privacy-centric & CPU-mining

[Xmining]

Thank you guys for supporting Infinium-8 Xmining pool! 2 Kh/s out of 25 on xmining - it's awesome!

Let's keep up the partnership.

[Infinium8]

Yes agree with you MinerMario "Just would like to know where we are going with this coin"

Yesterday i try to talk about INF8 on poloniex trollbox and people are answered directly is not interresting because there is an infinite number of coin. They do not find it interresting and think it will have no value.

That is why there is no support for INF8.

It would certainly change something to make INF8 attractive, such as establishing a maximun number of coin.

Certainly some information that the developer should hear and take into advisement. What do you think dev?

Need to keep the estimate of the coin at a stable level. The less it falls the more we earn. Also, pumps and dumps deteriorate the image of a coin as a mean for payment. We can never avoid the exchange rate from moving but we can diminish it's impact. So we use the infinite emission to tackle So we use the infinite emission to tackle the deflation problem.

The formula of block reward is log₂(difficulty)*2^40. Ergo, the block reward increases slower than the difficulty. This ensures the Infinium-8 stability.

Okay, it's worth it to keep watching. The investment to get in is small, just a little juice for the CPU, and so far you have done a pretty good job with your launch.

Just one more question. Correct me if I am wrong but it seems in all the excitement of launch no one bothered to ask the first question of crypto and your OP doesn't state it that I can see. Will the block explorer show a premine/instamine? If so how large?

Crossing fingers nothing unreasonable. I can ramp up some more hash for CPU mining this coin but I don't want to spend the electricity if there is a huge premine or instamine hanging out there.

You can be sure of this. Block explorer will show the date and time when genesis / the first block was generated. I have mined the first few blocks, but Infinium-8 was launched fairly.

FYI for miners. I have been solo mining this for 1 1/2 days now and still finding blocks. Have 3 AMD 8 core Vishera working on it and have found about 65-70 blocks so far. Not sure how that would add up against pool mining yet but will try that tomorrow and see what is more effective.

But you *can* still solo mine this coin with relatively little hardware.

Be good.

Thanks for the information!

[costicam]

Increasing mining reward is a great idea!

What happens right now with XMR is that I make a lot more money by trading than by mining. At it's start I did make a lot by mining.

Traders are still useful, because somebody needs to buy the coin back, but traders making a lot more than miners, makes it a pump and dump coin, making mixing with it very expensive.

Less incentive for traders will make the value more steady, even if it's steadily decreasing, because of infinite supply, if it happens at a very low pace, I think it's good.

So this coin may turn out to be good, after all.

+1 from me !

PS: a dedicated exchange for it might be a good idea, maybe the guy who had cryptonote.exchange.to could help, if busoni doesn't

[MinerMario]

Yes agree with you MinerMario "Just would like to know where we are going with this coin"

Yesterday i try to talk about INF8 on poloniex trollbox and people are answered directly is not interresting because there is an infinite number of coin. They do not find it interresting and think it will have no value.

That is why there is no support for INF8.

It would certainly change something to make INF8 attractive, such as establishing a maximun number of coin.

Certainly some information that the developer should hear and take into advisement. What do you think dev?

Need to keep the estimate of the coin at a stable level. The less it falls the more we earn. Also, pumps and dumps deteriorate the image of a coin as a mean for payment. We can never avoid the exchange rate from moving but we can diminish it's impact. So we use the infinite emission to tackle So we use the infinite emission to tackle the deflation problem.

The formula of block reward is log₂(difficulty)*2^40. Ergo, the block reward increases slower than the difficulty. This ensures the Infinium-8 stability.

Okay, it's worth it to keep watching. The investment to get in is small, just a little juice for the CPU, and so far you have done a pretty good job with your launch.

Just one more question. Correct me if I am wrong but it seems in all the excitement of launch no one bothered to ask the first question of crypto and your OP doesn't state it that I can see. Will the block explorer show a premine/instamine? If so how large?

Crossing fingers nothing unreasonable. I can ramp up some more hash for CPU mining this coin but I don't want to spend the electricity if there is a huge premine or instamine hanging out there.

You can be sure of this. Block explorer will show the date and time when genesis / the first block was generated. I have mined the first few blocks, but Infinium-8 was launched fairly.

FYI for miners. I have been solo mining this for 1 1/2 days now and still finding blocks. Have 3 AMD 8 core Vishera working on it and have found about 65-70 blocks so far. Not sure how that would add up against pool mining yet but will try that tomorrow and see what is more effective.

But you *can* still solo mine this coin with relatively little hardware.

Be good.

Thanks for the information!

Thank you for the information as well. Await the block explorer and other announcements you have coming. Will keep some CPUs on this one. Good luck all.

[Infinium8]

Increasing mining reward is a great idea!

What happens right now with XMR is that I make a lot more money by trading than by mining. At it's start I did make a lot by mining.

Traders are still useful, because somebody needs to buy the coin back, but traders making a lot more than miners, makes it a pump and dump coin, making mixing with it very expensive.

Less incentive for traders will make the value more steady, even if it's steadily decreasing, because of infinite supply, if it happens at a very low pace, I think it's good.

So this coin may turn out to be good, after all.

+1 from me !

PS: a dedicated exchange for it might be a good idea, maybe the guy who had cryptonote.exchange.to could help, if busoni doesn't

Thanks!

I've sent requests on Hitbtc, Polo and Swaphole.

[Infinium8]

I posted the announcement to CryptoNote forum https://forum.cryptonote.org/viewtopic.php?f=6&t=242. Hope that Infinium-8 will be added to the official CryptoNote resource.

[sunerok]

i really like where this coin is going, and it seems to have serious decentralized potential.

keep it up guys =]

[costicam]

Thanks!

I've sent requests on Hitbtc, Polo and Swaphole.

I have yet another idea that might be good for this coin.
The transaction fees should also increase as difficulty increases. It makes perfect sense, more hash power, more expensive transactions, since the miners put up a lot more resources to make this happen.
And I'm thinking of this because log2 increases very slowly after a while. Well at least it increases and not decreases.

Did you make any graphs on how the reward would increase as difficulty rises?

The transaction fees should increase in a more linear fashion. Say to make block reward + (average tx fees per block over the last n blocks) = a total reward that goes up more linearly.  Hash power costs money so it needs to be paid for.

Once again since it's a mixing coin, it's only fair that the people mixing should be paying this fee, and the miners who provide the service should get paid.
For the end user that's mixing, it's all the same, if the miners don't get it, the traders will. Traders make it fluctuate, so the end user ends up paying exponentially more, as soon as more coins end up in the traders' wallets.
Then mining may become no longer be profitable and the coin will die, then we have to start another bubble coin, where only the early miners make some real money.

[Infinium8]

Infinium-8 was added to vote on the Askcoin exchange.

You can vote here - https://askcoin.net/votes (requires a registered account).

[Infinium8]

Thanks!

I've sent requests on Hitbtc, Polo and Swaphole.

I have yet another idea that might be good for this coin.
The transaction fees should also increase as difficulty increases. It makes perfect sense, more hash power, more expensive transactions, since the miners put up a lot more resources to make this happen.
And I'm thinking of this because log2 increases very slowly after a while. Well at least it increases and not decreases.

Did you make any graphs on how the reward would increase as difficulty rises?

The transaction fees should increase in a more linear fashion. Say to make block reward + (average tx fees per block over the last n blocks) = a total reward that goes up more linearly.  Hash power costs money so it needs to be paid for.

Once again since it's a mixing coin, it's only fair that the people mixing should be paying this fee, and the miners who provide the service should get paid.
For the end user that's mixing, it's all the same, if the miners don't get it, the traders will. Traders make it fluctuate, so the end user ends up paying exponentially more, as soon as more coins end up in the traders' wallets.
Then mining may become no longer be profitable and the coin will die, then we have to start another bubble coin, where only the early miners make some real money.

Everything you've written is correct. This is envisaged in all currencies, even in Bitcoin.

There's the mining services market. Some miners are greedy and want to get as big a reward as possible. So they choose transactions which maximizes their incomes. Miners receive only the fee from transactions, which means that they maximize the amount of the fee. If mining stops being profitable, they will start accepting transactions with a large fee.

The decision is within the responsibility of the miners community. Also, if only a half of the miners accept this decision, this will decrease the speed of cheap transactions. I think it's too early to make such decisions.

[costicam]

Everything you've written is correct. This is envisaged in all currencies, even in Bitcoin.

There's the mining services market. Some miners are greedy and want to get as big a reward as possible. So they choose transactions which maximizes their incomes. Miners receive only the fee from transactions, which means that they maximize the amount of the fee. If mining stops being profitable, they will start accepting transactions with a large fee.

The decision is within the responsibility of the miners community. Also, if only a half of the miners accept this decision, this will decrease the speed of cheap transactions. I think it's too early to make such decisions.

Interesting point. Then I am curious why they still accept small fee transactions, mining isn't all that profitable.
In fact I think that was the idea behind halving the reward in the first place, so why no pools raise their fees, I dunno...

I didn't notice in simplewallet any option where to set the transaction fee. Does CryptoNote even have this feature? I haven't really looked through the sources.

Also, I think there was a thing when if the blocksize was too large on XMR and QCN the reward was reduced significantly. Now after they raised the fee to 0.005 the problem disappeared, though I'm not sure if there was any connection, maybe just the update itself fixed the problem.  That was ridiculous, if processing transactions reduces your reward, why process any at all? Unless, the fees are greater than the block reward perhaps.

[Infinium8]

Everything you've written is correct. This is envisaged in all currencies, even in Bitcoin.

There's the mining services market. Some miners are greedy and want to get as big a reward as possible. So they choose transactions which maximizes their incomes. Miners receive only the fee from transactions, which means that they maximize the amount of the fee. If mining stops being profitable, they will start accepting transactions with a large fee.

The decision is within the responsibility of the miners community. Also, if only a half of the miners accept this decision, this will decrease the speed of cheap transactions. I think it's too early to make such decisions.

Interesting point. Then I am curious why they still accept small fee transactions, mining isn't all that profitable.
In fact I think that was the idea behind halving the reward in the first place, so why no pools raise their fees, I dunno...

I didn't notice in simplewallet any option where to set the transaction fee. Does CryptoNote even have this feature? I haven't really looked through the sources.

Also, I think there was a thing when if the blocksize was too large on XMR and QCN the reward was reduced significantly. Now after they raised the fee to 0.005 the problem disappeared, though I'm not sure if there was any connection, maybe just the update itself fixed the problem.  That was ridiculous, if processing transactions reduces your reward, why process any at all? Unless, the fees are greater than the block reward perhaps.

Theoretically can rebuild several lines of the code and renew the binaries and then can state the desired transaction fee. you can see that in the code if you look attentively.

This means that the fee is stated not in simplewallet itself but manually in the code.

[kidyubyub]

This thread has come to a stand still. Any updates?!

[Infinium8]

This thread has come to a stand still. Any updates?!

You can see block explorer, official website and some services at an early date.

[Infinium8]

Infinium-8 has joined the CryptoNote family

CryptoNote team has diligently reviewed the request from Infinium-8 and the decision has been made to announce the new coin as the CryptoNote currency. Infinium-8 is endowed with every characteristic essential to a true CryptoNote-based coin. What’s particularly interesting about this coin is that it offers an infinite emission. We think of this feature as a curious economic experiment and are going to be tracking its development closely.

References

https://cryptonote.org/news/2014/7/30/infinium-8-has-joined-the-cryptonote-family

https://cryptonote.org/coins.php

https://forum.cryptonote.org/viewtopic.php?f=6&t=242

[Xmining]

Infinium-8 has joined the CryptoNote family

CryptoNote team has diligently reviewed the request from Infinium-8 and the decision has been made to announce the new coin as the CryptoNote currency. Infinium-8 is endowed with every characteristic essential to a true CryptoNote-based coin. What’s particularly interesting about this coin is that it offers an infinite emission. We think of this feature as a curious economic experiment and are going to be tracking its development closely.

References

https://cryptonote.org/news/2014/7/30/infinium-8-has-joined-the-cryptonote-family

https://cryptonote.org/coins.php

https://forum.cryptonote.org/viewtopic.php?f=6&t=242

Great news!

If you're looking for a INF8 mining pool - join us on http://infinium.xminingpool.com/

[adhitthana]

How to see current diff?

HEIGHT 49, difficulty:  632752

I'm asking HOW to see.  

with mind powers

That is the kind of true innovation I'm looking for in a coin

[adhitthana]

Is the developer an actual developer?
Just asking

[Infinium8]

Is the developer an actual developer?
Just asking

Yes, I am. Do you have any questions? I'll be glad to answer.

[adhitthana]

Is the developer an actual developer?
Just asking

Yes, I am. Do you have any questions? I'll be glad to answer.

Just checking 
How long have you been developing?
What sort of projects have you worked on?
Do you see any improvements you can add to what other CN coins are doing?