© [PRE-ANN][VMINE] X11 | POW/POS | 15 MH Hashrate Limited | Close Source

[vnnbot]

VMINE name reserved by this topic.

We are developing VMINE and we need your votes.
Update: Limitation hashrate: 15 MH - X11

Here are some info:

Launch Time:

Due to a lot people requested,
we will delay VMINE launch to the next week.
Pools setup already but we will delay the launch, waiting to the best time for all of us.
You can try out pool here: http://vmine.vctalk.net it will be wiped out before new launch.
We will fix a new launch date soon.

Specifications:

No-Premine
No IPO
Algo: X11
Fast block time
POW: 7 days, then POS.
POS Interest: 5%
Mining hashrate is limited. We will pick your votes in 7 days for this limitation. Limitation mean: No big farm, no ASIC, fair distribution.

To make sure hashrate is limited, we will keep VMINE source code closed until the end of POW.
All pools will be operated by us, to make sure nobody has the source, to keep the hashrate limitation. The pools will be located in US and India.

VMINE will hit the first exchange after 3 days from the launch.
Only one exchange available in POW. If you are exchange owner, contact me if you want to list VMINE on your exchange.

Limitation Voting Picked Up:
As you see in our voting, it is close to each limitation. Thus, for the best result, we will pick the hashrate limit at 15MH.
Thank you for the voting.

Now, it is time to prepare to mine. The launch may earlier than the announcement above, then we will let you know at least 1 day before new launch date picked. Please check the countdown frequently https://www.altcoincalendar.info/coins/701-VMINE

Multipool will be opened in POS, 3-5 days after POW ended.


Come back often to get update information.


Update:

Source:
https://github.com/vnnbot/VMINE

Website: http://v-coin.net
Forum: VMINE Development http://v-coin.net/viewforum.php?f=57

[vnnbot]

reserved.

[KeyserSozeMC]

Isn't that centralization?

[yellowduck2]

why x11 ?

All pools will be operated by us

Not good. U can have whatever u want on source and nobody know. Get trusted pool to host this. Look for supernova operator OCMiner. He is hosting for Revo and its working very well.

[letmegohome]

when this coin launched , i'am old ,

[seedtrue]

I'm a unicorn.

[Frizork]

Specifications:

No-Premine
No IPO

Thanks

[auy]

How mining hashrate limited?  
This idea is so cool?
However, you can register a different account

[CryptoGretzky]

why x11 ?

All pools will be operated by us

Not good. U can have whatever u want on source and nobody know. Get trusted pool to host this. Look for supernova operator OCMiner. He is hosting for Revo and its working very well.

How do we know there won't be major phantom miners on the pool stealing shares if you are the only pool running AND it's closed source....?

[coolisbad]

Finally! Somebody picked up this great ideea! Limited hasrate is very good for fair distribution, and even better for value, as minerals demonstrated. That is, if you are honest and you do it right. Good luck with this coin, I'll be mining.

[yellowduck2]

why x11 ?

All pools will be operated by us

Not good. U can have whatever u want on source and nobody know. Get trusted pool to host this. Look for supernova operator OCMiner. He is hosting for Revo and its working very well.

How do we know there won't be major phantom miners on the pool stealing shares if you are the only pool running AND it's closed source....?

It's happening right now

https://bitcointalk.org/index.php?topic=683567.0

OCMiner is hosting limit hash pool. Read the whole thread. U know it works. BUT if this were to be host by the same person who make the coin, i dont think it will work well

Getting a trusted 3rd party to host pool can cross check the code for the community to make sure there is no hidden blocks and huge premine.

[bathrobehero]

I don't think a centralized, closed source approach is the way to go. Besides, it's still not protecting against the massive amount of small rentals.
And if you'll have more than one pools, you can't possibly restrict us not to use all of them at the same time. But if you'll have only one, or all of them will belong to you than the coin will have trust issues.

[escalicha]

Interesting!

[n3rfherder]

Isn't that centralization?

That is what people tried to say about Minerals and now Revo.  It's not centralization at all, it's limitation for a short period.  Centralization requires that those involved have no say or idea of how things function at it's core level.  PoW ends, source is shown and things go on as any other coin.

Centralization occurs when one entity mints and distributes the currency/coin.  I'm sure you are aware that is not how this works as the minting/mining occurs on the blockchain.

Not trying to be rude but I am sure I shouldn't have to explain these simple concepts to you as you are a veteran around here and I'm pretty fucking sure you know how everything in relation to crypto works.

[vnnbot]

why x11 ?

All pools will be operated by us

Not good. U can have whatever u want on source and nobody know. Get trusted pool to host this. Look for supernova operator OCMiner. He is hosting for Revo and its working very well.

Supernova has been reported "Low reward - Lost Hashrate" somewhere bitcointalk forum. You can check it yourself.

Anyway, you can join in or just leave it.

[totoy]

watching

[Frizork]

I cant vote

[vnnbot]

I don't think a centralized, closed source approach is the way to go. Besides, it's still not protecting against the massive amount of small rentals.
And if you'll have more than one pools, you can't possibly restrict us not to use all of them at the same time. But if you'll have only one, or all of them will belong to you than the coin will have trust issues.

Multi pool but one database. We can monitor it to make sure the limitation works.

Multi-pool in multi-location around the world is good for connection speed for everyone, means low reject jobs during mining.

Multi-pool is good against DDoS attack.

[KeyserSozeMC]

Isn't that centralization?

That is what people tried to say about Minerals and now Revo.  It's not centralization at all, it's limitation for a short period.  Centralization requires that those involved have no say or idea of how things function at it's core level.  PoW ends, source is shown and things go on as any other coin.

Centralization occurs when one entity mints and distributes the currency/coin.  I'm sure you are aware that is not how this works as the minting/mining occurs on the blockchain.

Not trying to be rude but I am sure I shouldn't have to explain these simple concepts to you as you are a veteran around here and I'm pretty fucking sure you know how everything in relation to crypto works.

They're limiting the approach of other pools, that's what I meant by centralization. All the pools will run from their end.
It's like we just have "X bank" in the entire world.

They will be gathering all mining fees, hash power, people.

No worries, it's a forum after all, we're here to discuss as civilized people

[nongdanvoz]

VN coin 
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