[ANN] Ʉ Umbrella | Insured Cryptocurrencies | Umbrella-LTC | Litecoin Insurance

[jBacchus]

managed to solo mine 3 blocks right off... now at hardcoreminers... seems to be working out just fine

Next step will be to know where we can trade these at!  Any exchanges have interest yet?

[busminer]

If anyone completed a bounty, send me your new ULTC address.  But give me a few to respond.

Thanks

UQ7xqffCShYqKupLA6J92VfR5Pbdmz9deC

[omgbossis21]

why is the reward 5 instead of 10?

[Badman0316]

why is the reward 5 instead of 10?

same question

[MinermanNC]

Yes HC miners is rocking some ULTC!!!!! YEAH   almost 10GH already and climbing.

Good job HC and DEV!!

[chisefu]

Please don't fear, Hardcoreminers is here!


Added pool for Umbrella-LTC:
http://ultc.hardcoreminers.com


- DDOS Protected
- Reachable through SSL for enhanced security
- Powerful dedicated servers


Please don't fear, Hardcoreminers is here!



In the mean time, rent some rigs to get the coins!
Miningrigrentals
Leaserig

I recommend mining here, I still can't get it to compile on http://new.chickenstrips.net

[Umbrella Holdings]

why is the reward 5 instead of 10?

Insurance fund.  Look at the original Ann thread for more information.

How does it work?  In a nutshell, Crypto-Asset Backed Insurance or (CABI) is what makes Umbrella possible with no premium required from the exchange or miner.  A portion of Umbrellas block reward is automatically allocated into an insurance fund as it is mined.  The insurance block reward is set to decrease geometrically, with a (TBD)% reduction rate, every (TBD)# of blocks.  The CDIC will use proprietary algorithms to calculate the decreasing insurance allocation block reward/rate or (diaBR/r).  A byproduct of reducing the insurance block reward is an increased reward, for standard blocks.  One of the models used for calculating the (diaBR/r) is a modified Monte Carlo Method (VaR) or Value-at-Risk measure algorithm.  This algorithm factors in the historical data of failed exchanges, the amount of Umbrella holdings per exchange, and it’s distribution on the network.  Unlike the Greeks, duration and convexity, or beta, which only pertain to certain asset classes, value-at-risk is general.  This generality makes it suitable for our application.  These metrics will yield the rate at which insurance block rewards are generated and halved.

[omgbossis21]

Yes HC miners is rocking some ULTC!!!!! YEAH   almost 10GH already and climbing.

Good job HC and DEV!!

11,685.67  MH/s  Not GH

[thcmakaveli]

why is the reward 5 instead of 10?

Insurance fund.  Look at the original Ann thread for more information.

How does it work?  In a nutshell, Crypto-Asset Backed Insurance or (CABI) is what makes Umbrella possible with no premium required from the exchange or miner.  A portion of Umbrellas block reward is automatically allocated into an insurance fund as it is mined.  The insurance block reward is set to decrease geometrically, with a (TBD)% reduction rate, every (TBD)# of blocks.  The CDIC will use proprietary algorithms to calculate the decreasing insurance allocation block reward/rate or (diaBR/r).  A byproduct of reducing the insurance block reward is an increased reward, for standard blocks.  One of the models used for calculating the (diaBR/r) is a modified Monte Carlo Method (VaR) or Value-at-Risk measure algorithm.  This algorithm factors in the historical data of failed exchanges, the amount of Umbrella holdings per exchange, and it’s distribution on the network.  Unlike the Greeks, duration and convexity, or beta, which only pertain to certain asset classes, value-at-risk is general.  This generality makes it suitable for our application.  These metrics will yield the rate at which insurance block rewards are generated and halved.

Bullshit !

Clearly seen, Pump and Dump !

[MinermanNC]

Its all good as we all earn same share amount anyways, 5

[Umbrella Holdings]

Please don't fear, Hardcoreminers is here!


Added pool for Umbrella-LTC:
http://ultc.hardcoreminers.com


- DDOS Protected
- Reachable through SSL for enhanced security
- Powerful dedicated servers


Please don't fear, Hardcoreminers is here!



In the mean time, rent some rigs to get the coins!
Miningrigrentals
Leaserig

I recommend mining here, I still can't get it to compile on http://new.chickenstrips.net

Did you pull that latest source from github?  Not sure what the issues are, PM me with more info and I'll try and troubleshoot with you.

Thanks

[MinermanNC]

Yes HC miners is rocking some ULTC!!!!! YEAH   almost 10GH already and climbing.

Good job HC and DEV!!

11,685.67  MH/s  Not GH

1 TH/s = 1000 GH/s

1 GH/s=1000 MH/s

[omgbossis21]

Insurance taking 1/2 the earnings?  5 coins per block  + rising difficulty this coins for the asic's.

[omgbossis21]

Net Hashrate

0.02  GH/s

okay got it

[Umbrella Holdings]

Insurance taking 1/2 the earnings?  5 coins per block  + rising difficulty this coins for the asic's.

The insurance portion halves, it's not always a 1:1 ratio.  This coin most likely will belong to ASIC given it's algo..?  We are working on other coins that are ASIC resistant.

Thank you,

[omgbossis21]

.028xx coin with .87mhs....

[coa032]

.028xx coin with .87mhs....

I rented 200MH and had 5 coins in half an hour

+1
Diff is rising fast...it is hard to mine now.

[MineP.it]

.028xx coin with .87mhs....

I rented 200MH and had 5 coins in half an hour

+1
Diff is rising fast...it is hard to mine now.

Come back in a couple hours when the initial hype has died down a bit

[omgbossis21]

Wonder how many blocks before insurance isn't getting half the coins.  By then diff will be so high and block time up probably pull the gpus off it.

[zxbball]

how Merge-Mined with ltc