Bitcoin Forum
September 26, 2018, 02:01:31 AM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 [57] 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 ... 192 »
  Print  
Author Topic: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine  (Read 576866 times)
savale
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile WWW
August 05, 2014, 01:54:15 PM
 #1121

GPU miner will be there eventually but I looked into it and it's lot's of work (since there are no OpenCl hashing scrypts for the used algo's).
I think it's good for the market to have CPU only for a few more days.  Cool

1537927291
Hero Member
*
Offline Offline

Posts: 1537927291

View Profile Personal Message (Offline)

Ignore
1537927291
Reply with quote  #2

1537927291
Report to moderator
1537927291
Hero Member
*
Offline Offline

Posts: 1537927291

View Profile Personal Message (Offline)

Ignore
1537927291
Reply with quote  #2

1537927291
Report to moderator
1537927291
Hero Member
*
Offline Offline

Posts: 1537927291

View Profile Personal Message (Offline)

Ignore
1537927291
Reply with quote  #2

1537927291
Report to moderator
Make a difference with your Ether.
Donate Ether for the greater good.
SPRING.WETRUST.IO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537927291
Hero Member
*
Offline Offline

Posts: 1537927291

View Profile Personal Message (Offline)

Ignore
1537927291
Reply with quote  #2

1537927291
Report to moderator
bitfreak!
Legendary
*
Offline Offline

Activity: 1535
Merit: 1000


electronic [r]evolution


View Profile WWW
August 05, 2014, 03:23:07 PM
 #1122

Thank you for that extremely informative post watuba! I created two of my own graphs which show how things will progress over a period of 100 years. Keep in mind that the block reward wont actually drop to 0 for several hundred years, but as watuba's graph demonstrates, most of the coin supply will have been mined after 30 years, and after 80 years the block reward will be below 1 XCN. The other thing to keep in mind is that all block rewards come out of the coinbase account, however coins can be provably destroyed by sending them back to the coinbase account, allowing the coins to be remined. The block reward at any given time really depends on the balance of the coinbase account, so these charts probably aren't exact, but they are good enough approximations.


EDIT: just noticed a small error with 2nd graph, the block reward actually starts at 243.1 not 243.01

XCN: CYsvPpb2YuyAib5ay9GJXU8j3nwohbttTz | BTC: 18MWPVJA9mFLPFT3zht5twuNQmZBDzHoWF
Cryptonite - 1st mini-blockchain altcoin | BitShop - digital shop script
Web Developer - PHP, SQL, JS, AJAX, JSON, XML, RSS, HTML, CSS
SnjafSnjaf
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250


View Profile
August 05, 2014, 03:23:46 PM
 #1123

I cant sync my wallet, i am stuck on "Downloading headers - 5 days behind - 5789 block"...
Maybe there is somewhere in the thread about this problem i have but it is damn to long to read/search and i just hooped onto this coin...

EDIT: 103 active connections, (0 in / 103 out) and still stuck... Not downloading anything after 5789 blocks...
bitfreak!
Legendary
*
Offline Offline

Activity: 1535
Merit: 1000


electronic [r]evolution


View Profile WWW
August 05, 2014, 03:42:06 PM
 #1124

I cant sync my wallet, i am stuck on "Downloading headers - 5 days behind - 5789 block"...
Maybe there is somewhere in the thread about this problem i have but it is damn to long to read/search and i just hooped onto this coin...

EDIT: 103 active connections, (0 in / 103 out) and still stuck... Not downloading anything after 5789 blocks...
You have outgoing connections so I don't think it could be firewall issues, but maybe check just in case. Few things to try if doesn't come good after a few minutes: make sure you're running latest revision and try running -resync or just delete your data folder (make a backup of it first if you have any coins).

XCN: CYsvPpb2YuyAib5ay9GJXU8j3nwohbttTz | BTC: 18MWPVJA9mFLPFT3zht5twuNQmZBDzHoWF
Cryptonite - 1st mini-blockchain altcoin | BitShop - digital shop script
Web Developer - PHP, SQL, JS, AJAX, JSON, XML, RSS, HTML, CSS
cubex
Newbie
*
Offline Offline

Activity: 50
Merit: 0


View Profile
August 05, 2014, 03:46:28 PM
 #1125

Thank you for that extremely informative post watuba! I created two of my own graphs which show how things will progress over a period of 100 years. Keep in mind that the block reward wont actually drop to 0 for several hundred years, but as your graph demonstrates, most of the coin supply will have been mined after 30 years. The other thing to keep in mind is that all block rewards come out of the coinbase account, however coins can be provably destroyed by sending them back to the coinbase account, allowing the coins to be remined. The block reward at any given time really depends on the balance of the coinbase account, so these charts probably aren't exact, but they are good enough approximations.

http://s29.postimg.org/rh9zwij0n/xcn_distribution.jpghttp://s8.postimg.org/jc4zyxd91/xcn_per_block.jpg

Impressive!  Do you have a similar chart that zoom in for the next 5 years?
Thomas-s
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500



View Profile
August 05, 2014, 04:00:40 PM
 #1126

Someone fork with lower amount of coins.




         ▄█████████████████████████▄
       ▄████▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█████
     ▄████▀                       ▀███
    ████▀                           ████
   ████                              ████
  ████                                ████
 ████       ███████████████████        ████
████         ███████████████████        ███
████                       ▀████        ███
████                        ████        ███
████▄                      ▄████        ███
 ████       ████████████████████       ███
  ████      ███████████████████       ███
   ████     █████                    ███
    ████▄   █████                  ███
     ▀████▄ █████       ▄██▀▀█▄▄▄█▀▀
       ▀█████████     ██     ▄▄▄
          ▀██████    ▀▀▀██████








  ▄█████████████          ███████              ▄█████████████          █████████████
 ████████████████        ████ ████            ████████████████       ████▀▀▀▀▀▀▀▀▀████
              ████      ████   ████                        ████    ████            ████
               ████    ████     ████                        ████   ████            ████
              ████    ████       ████                      ████    ████            ████
█████████████████    ████         ████       █████████████████     ████       ▄▄   ████
████████████████    ████           ████      ████████████████      ████       ███▄  ███
████               ████   ██████████████     ████         ████      ████▄▄▄▄▄▄ ████▄ 
████              ████   ████████████████    ████          ████       ████████████████▄▄
//A GREEN, SMART AND CONNECTED CITY PLATFORM
   ● ▬▬ ● ▬▬▬▬ ● ▬▬▬▬ ●  MEDIUM | REDDIT | FACEBOOK | TELEGRAM | TWITTER | YOUTUBE | ANNOUNCEMENT   

   W P 

     ██████████████████▄
     ██           ██  ██▄ 
     ██           ██    ██▄
     ██           ██     ██▄
     ██           ██████████
     ██                   ██           
     ██                   ██
     ██                   ██
     ██                   ██
     ██                   ██
     ██                   ██
     ██                   ██
     ██                   ██
     ███████████████████████
neite99
Sr. Member
****
Offline Offline

Activity: 560
Merit: 250



View Profile
August 05, 2014, 04:07:28 PM
 #1127

Finally someone explains it to these trolls asking for a fork and complaining about magical GPU miners.

Well done sir. Well done


FAQ/Troubleshooting
This is divided into two sections.  The first is technical help, the second is coin supply.


1) Technical Help
Cryptonite is a completely new crypto:  The Bitcoin code was seriously altered and vetted over a 4 month period.  Partly because of this, setting up the client may involve a little extra work over any bitcoin fork or shitcoin.  Consider that 1. It has an entirely different balance-sheet system 2. It only retains the blockchain for the past 7 days, and 3. It has a lot of completely new features, like withdrawal limits/unmalleable transactions/0-confirm transactions, when you're about to complain that you couldn't get it work in 5 seconds.

Installation
Download directories(These are the most up-to-date, OP is not always accurate):

http://gpile.it/mbc/ For latest Linux Binaries and Windows daemon/qt
http://gpile.it/mbctest/ If you're feeling adventurous, latest test versions
Source(same as OP):
https://github.com/MiniblockchainProject/Cryptonite/

Please backup your wallet, as well as Bitcoin/other client wallets before installing Cryptonite.

Linux Ubuntu 14.04 (Trusty) / Ubuntu 13.10 (Saucy)
These are all the commands I used to get binaries running on Ubuntu 14.04
Configuring system:

Copy bitcoin repository and update, add additional necessary dependencies:
Code:
sudo add-apt-repository ppa:bitcoin/bitcoin

sudo apt-get update

sudo apt-get install libboost-all-dev libdb4.8-dev libdb4.8++-dev libminiupnpc-dev libqt4-dev libprotobuf-dev protobuf-compiler libgmp-dev

apt-get install git ntp make g++ gcc autoconf cpp ngrep iftop sysstat

Installing(Note, change the Trusty file version below to most up-to-date):
Code:
sudo su -
wget "gpile.it/mbc/trusty_amd64_cryptonited_14072401" -O cryptonited

chmod +x ./cryptonited

mkdir ~/.cryptonite

cat > ~/.cryptonite/cryptonite.conf << EOF
#----
rpcuser=rpcuser
rpcpassword=rpcpwabcdef
EOF

./cryptonited

Linux from Source:
<I haven't done this yet, if someone wants to make a guide or list of commands, I'll fill it in here>

Windows 7(64 bit):
Download latest qt from http://gpile.it/mbc/
Run, enjoy
Find the wallet directory: Go to Start -> run “explorer %APPDATA%\Cryptonite”
Want to solomine?  Go to help, Debug, enter 'setgenerate true -1'
Other useful commands in Debug window:
'getmininginfo' will tell you some stuff
'getinfo' will tell you other stuff
'setgenerate false' to stop mining

Windows 8 or 8.1:
Probably not a good idea.  There have been lots of reported issues with Win 8, and the client wasn't tested at all for Windows 8.  However, bitfreak may be working on a web wallet, so this might be an option if you can't get another OS anytime soon.

Windows 32bit:
No versions out for 32bit yet, and likely not out for a long time, if ever.

Other Troubleshooting
Trouble Syncing?  
Enter in console: ./cryptonited addnode seed.gpile.it onetry
Keep trying that command until it finds one.  Cryptonited does this by default, but just really slowly.

Error sending XCN:
XCN must have 10 decimal places and an 'ep' sign at the end, ie:
./cryptonited sendtoaddress mvqH4czVQg2HdGpkV7PWVZJpRXVwLnMXpN "30.0100000000ep"
http://cryptonite.info/wiki/index.php?title=Cryptonite_API#A_note_about_EP_amounts



2) Coin Supply Help
Before you go apeshit over 1.8 Billion coins, high inflation, "not what we're used to", etc, consider that maybe the devs made a very conscious decision in distributing Cryptonite this way. Instead of insta-complaining, really think about how it might be appropriate for this coin in particular.  For one, if they really wanted to make it unfair for you, they would have created an instamine, instead of one of the fairest and slowest distributions ever.

Can we see a graph of the distribution rate?
Sure.  Here's the equation too, distributed coins = (2^64 - ((1 - 24310 * 10^8 / (2^64))^(1440*365.25*years) * 2^64)) / 10^10



Supply in Numbers:
After 1 month: ~11 Million
After 3 months: ~ 32 Million
After 1 year: ~ 123 Million
After 2 years: ~ 240 Million
After 10 years: ~ 920 Million

Didn't some guy(s) get almost 20% of the coins over the first week?
Looks like it.  This isn't an instamine though.  20% of the first week's coins mean nothing.  After 1 month, that's less than 5% of supply, and after 3 months it's close to 1% of supply.  Part of the goal of the very even and slow distribution rate was to protect from just this.  Invariably, there will be big players at different times mining lots of coins, just like with Litecoin and Bitcoin.  Like both of those coins though, there's plenty more to be mined!

That's too much dilution.  (I want more of an instamine)
If you're looking to get rich quick by buying really cheap instamined coins and selling in a few months when supply is dried up, you should look for other coins that are structured like this.  Lots of dilution is not really a bad thing for a quality coin.  A large chunk of fresh coins everyday provides liquidity, which greatly lowers variance and increases long-term stability and incentive for miners, who keep the network safe.

There's no room for investors, only the miners get rich!
Not really.  Cryptonite is similar to the distribution of Bitcoin or Litecoin, only even slower.  Bitcoin and Litecoin have the two largest market caps today.  If you bought either at the beginning though, you weren't getting rich in a couple months.  Cryptonite has a similar distribution, and therefore, likely a similar long-term investor strategy.  There is certainly huge room for investment.  You are betting that Cryptonite will get popular and mining costs/coin price will go up over time.  Will it go up in the instamined coin sense, where there is suddenly no supply? No!  The devs weren't greedy mofo's with a 3 month timeline like most other shitcoins out there.

There are too many coins!  1.84 Billion?
Seriously guys, if you divide by 100, the numbers will look very familiar to you.  Second, the number of coins has nothing to do with distrubution nor fairness.

The difficulty is way too high.  There must be a GPU already.
Go on Amazon Web Services and check out what kind of hash power you can get.  You will find that you can easily get 500 MH/sec of hashpower on there.  Most of the mining so far has probably been done on there in fact.  If you were at home, mining solo with just your laptop, your chances of finding a block are quite a bit slimmer than those with 1000 nodes on AWS.  Yesterday, there were 8000 nodes on 1GH.com.  That could easily be 100% CPUs.  Having said that, catia is working on a GPU miner which should be released soon.  

Other Good Resources
There's an entire wiki explaining in detail, the what and why:
http://cryptonite.info/wiki/index.php?title=Main_Page
Join us on IRC #Cryptonite

This coin is highly experimental and could use some quality support.  If you consider for a moment the effort going into developing this, it might be humbling to worry about something other than the price and how good of a deal you can get.  The developers are releasing new updates everyday and constantly improving the clients, but there's a lot more work that can be done.  Please, if this guide answers your questions and you still want to partake, consider also helping out, or donate.  When you realize how fair the distribution is(as impossible as that seems amidst a sea of shit scams out there), consider that maybe these devs are worth trusting.
tianrui81317
Member
**
Offline Offline

Activity: 117
Merit: 10


View Profile
August 05, 2014, 04:19:27 PM
 #1128

Very interesting altcoin. perhaps I should be ready to invest on it.
tianrui81317
Member
**
Offline Offline

Activity: 117
Merit: 10


View Profile
August 05, 2014, 04:21:46 PM
 #1129

GPU miner will be there eventually but I looked into it and it's lot's of work (since there are no OpenCl hashing scrypts for the used algo's).
I think it's good for the market to have CPU only for a few more days.  Cool

Personally, I don't think GPU mining is better. Because people will have to by more things in order to mine this coin. These fund should have been thrown into market.
marada
Sr. Member
****
Offline Offline

Activity: 441
Merit: 250


View Profile
August 05, 2014, 04:24:09 PM
 #1130

Linux from Source:
<I haven't done this yet, if someone wants to make a guide or list of commands, I'll fill it in here>

My proposal:

Linux from sources

Install dependencies & compilation dependencies:

Code:
sudo apt-get update
sudo apt-get install libboost1.55-all-dev build-essential libdb++-dev g++ libminiupnpc-dev libqt4-dev libprotobuf-dev libgmp-dev
* use your favourite versions of libraries
** use your distribution package tool or compile dependencies from sources

Code:
git clone https://github.com/MiniblockchainProject/Cryptonite/
cd Cryptonite
./autogen.sh
./configure --with-incompatible-bdb --with-gui
* proposed options, use ./configure --help to get more options

Code:
make -j <N>
* where <N> is the number of threads/cores you wish to use

If everything goes right you will find your qt wallet here:
~/Cryptonite/src/qt/cryptonite-qt

By default cryptonite-qt is compiled as shared library so you may need to launch from the terminal. Optionally install as system package:
Code:
sudo make install
* in case of distroes based on apt.

** you need at least 1,2 GB of disk space. 4 GB+ and 4+ cores CPU is recommended for compilation.
maximan2008
Sr. Member
****
Offline Offline

Activity: 295
Merit: 250


View Profile
August 05, 2014, 04:35:02 PM
 #1131

Android Wallet and android miner. Do you thinking that made.
watuba
Full Member
***
Offline Offline

Activity: 211
Merit: 100


View Profile
August 05, 2014, 04:49:06 PM
 #1132

Linux from Source:
<I haven't done this yet, if someone wants to make a guide or list of commands, I'll fill it in here>

My proposal:

Linux from sources

Install dependencies & compilation dependencies:

Code:
sudo apt-get update
sudo apt-get install libboost1.55-all-dev build-essential libdb++-dev g++ libminiupnpc-dev libqt4-dev libprotobuf-dev libgmp-dev
* use your favourite versions of libraries
** use your distribution package tool or compile dependencies from sources

Code:
git clone https://github.com/MiniblockchainProject/Cryptonite/
cd Cryptonite
./autogen.sh
./configure --with-incompatible-bdb --with-gui
* proposed options, use ./configure --help to get more options

Code:
make -j <N>
* where <N> is the number of threads/cores you wish to use

If everything goes right you will find your qt wallet here:
~/Cryptonite/src/qt/cryptonite-qt

By default cryptonite-qt is compiled as shared library so you may need to launch from the terminal. Optionally install as system package:
Code:
sudo make install
* in case of distroes based on apt.

** you need at least 1,2 GB of disk space. 4 GB+ and 4+ cores CPU is recommended for compilation.


Thank you very much marada.  I added this to the FAQ on the previous page.

EDIT:  Changed "./make" to "make" above and in the original post

marada
Sr. Member
****
Offline Offline

Activity: 441
Merit: 250


View Profile
August 05, 2014, 05:23:53 PM
 #1133

Thank you very much marada.  I added this to the FAQ on the previous page.

I'd like someone to test it. I am not sure what the deps are in "stock" distros and what needs to be installed.
BTHECREATOR
Member
**
Offline Offline

Activity: 67
Merit: 10


View Profile
August 05, 2014, 05:44:48 PM
 #1134

FAQ/Troubleshooting
This is divided into two sections.  The first is technical help, the second is coin supply.


1) Technical Help
Cryptonite is a completely new crypto:  The Bitcoin code was seriously altered and vetted over a 4 month period.  Partly because of this, setting up the client may involve a little extra work over any bitcoin fork or shitcoin.  Consider that 1. It has an entirely different balance-sheet system 2. It only retains the blockchain for the past 7 days, and 3. It has a lot of completely new features, like withdrawal limits/unmalleable transactions/0-confirm transactions, when you're about to complain that you couldn't get it to work in 5 seconds.

Installation
Download directories(These are the most up-to-date, OP is not always accurate):

http://gpile.it/mbc/ For latest Linux Binaries and Windows daemon/qt
http://gpile.it/mbctest/ If you're feeling adventurous, latest test versions
Source(same as OP):
https://github.com/MiniblockchainProject/Cryptonite/

Please backup your wallet, as well as Bitcoin/other client wallets before installing Cryptonite.

Linux Ubuntu 14.04 (Trusty) / Ubuntu 13.10 (Saucy)
These are all the commands I used to get binaries running on Ubuntu 14.04
Configuring system:

Copy bitcoin repository and update, add additional necessary dependencies:
Code:
sudo add-apt-repository ppa:bitcoin/bitcoin

sudo apt-get update

sudo apt-get install libboost-all-dev libdb4.8-dev libdb4.8++-dev libminiupnpc-dev libqt4-dev libprotobuf-dev protobuf-compiler libgmp-dev

apt-get install git ntp make g++ gcc autoconf cpp ngrep iftop sysstat

Installing(Note, change the Trusty file version below to most up-to-date):
Code:
sudo su -
wget "gpile.it/mbc/trusty_amd64_cryptonited_14072401" -O cryptonited

chmod +x ./cryptonited

mkdir ~/.cryptonite

cat > ~/.cryptonite/cryptonite.conf << EOF
#----
rpcuser=rpcuser
rpcpassword=rpcpwabcdef
EOF

./cryptonited

Linux from Source:
(Courtesy of marada, a few posts below)
Install dependencies & compilation dependencies:

Code:
sudo apt-get update
sudo apt-get install libboost1.55-all-dev build-essential libdb++-dev g++ libminiupnpc-dev libqt4-dev libprotobuf-dev libgmp-dev
* use your favourite versions of libraries
** use your distribution package tool or compile dependencies from sources

Code:
git clone https://github.com/MiniblockchainProject/Cryptonite/
cd Cryptonite
./autogen.sh
./configure --with-incompatible-bdb --with-gui
* proposed options, use ./configure --help to get more options

Code:
./make -j <N>
* where <N> is the number of threads/cores you wish to use

If everything goes right you will find your qt wallet here:
~/Cryptonite/src/qt/cryptonite-qt

By default cryptonite-qt is compiled as shared library so you may need to launch from the terminal. Optionally install as system package:
Code:
sudo make install
* in case of distroes based on apt.

** you need at least 1,2 GB of disk space. 4 GB+ and 4+ cores CPU is recommended for compilation.


Windows 7(64 bit):
Download latest qt from http://gpile.it/mbc/
Run, enjoy
Find the wallet directory: Go to Start -> run “explorer %APPDATA%\Cryptonite”
Want to solomine?  Go to help, Debug, enter 'setgenerate true -1'
Other useful commands in Debug window:
'getmininginfo' will tell you some stuff
'getinfo' will tell you other stuff
'setgenerate false' to stop mining

Windows 8 or 8.1:
Probably not a good idea.  There have been lots of reported issues with Win 8, and the client wasn't tested at all for Windows 8.  However, bitfreak may be working on a web wallet, so this might be an option if you can't get another OS anytime soon.

Windows 32bit:
No versions out for 32bit yet, and likely not out for a long time, if ever.

Other Troubleshooting
Trouble Syncing?  
Enter in console: ./cryptonited addnode seed.gpile.it onetry
Keep trying that command until it finds one.  Cryptonited does this by default, but just really slowly.

Error sending XCN:
XCN must have 10 decimal places and an 'ep' sign at the end, ie:
./cryptonited sendtoaddress mvqH4czVQg2HdGpkV7PWVZJpRXVwLnMXpN "30.0100000000ep"
http://cryptonite.info/wiki/index.php?title=Cryptonite_API#A_note_about_EP_amounts



2) Coin Supply Help
Before you go apeshit over 1.8 Billion coins, high inflation, "not what we're used to", etc, consider that maybe the devs made a very conscious decision in distributing Cryptonite this way. Instead of insta-complaining, really think about how it might be appropriate for this coin in particular.  For one, if they really wanted to make it unfair for you, they would have created an instamine, instead of one of the fairest and slowest distributions ever.

Can we see a graph of the distribution rate?
Sure.  Here's the equation too, distributed coins = (2^64 - ((1 - 24310 * 10^8 / (2^64))^(1440*365.25*years) * 2^64)) / 10^10



Supply in Numbers:
After 1 month: ~11 Million
After 3 months: ~ 32 Million
After 1 year: ~ 123 Million
After 2 years: ~ 240 Million
After 10 years: ~ 920 Million


How does the block reward change over time?
See bitfreak's post a few posts after this one.

Didn't some guy(s) get almost 20% of the coins over the first week?
Looks like it.  This isn't an instamine though.  20% of the first week's coins mean nothing.  After 1 month, that's less than 5% of supply, and after 3 months it's close to 1% of supply.  Part of the goal of the very even and slow distribution rate was to protect from just this.  Invariably, there will be big players at different times mining lots of coins, just like with Litecoin and Bitcoin.  Like both of those coins though, there's plenty more to be mined!

That's too much dilution.  (I want more of an instamine)
If you're looking to get rich quick by buying really cheap instamined coins and selling in a few months when supply is dried up, you should look for other coins that are structured like this.  Lots of dilution is not really a bad thing for a quality coin.  A large chunk of fresh coins everyday provides liquidity, which greatly lowers variance and increases long-term stability and incentive for miners, who keep the network safe.

There's no room for investors, only the miners get rich!
Not really.  Cryptonite is similar to the distribution of Bitcoin or Litecoin, only even slower.  Bitcoin and Litecoin have the two largest market caps today.  If you bought either at the beginning though, you weren't getting rich in a couple months.  Cryptonite has a similar distribution, and therefore, likely a similar long-term investor strategy.  There is certainly huge room for investment.  You are betting that Cryptonite will get popular and mining costs/coin price will go up over time.  Will it go up in the instamined coin sense, where there is suddenly no supply? No!  The devs weren't greedy mofo's with a 3 month timeline like most other shitcoins out there.

There are too many coins!  1.84 Billion?
Seriously guys, if you divide by 100, the numbers will look very familiar to you.  Second, the number of coins has nothing to do with distrubution nor fairness.

The difficulty is way too high.  There must be a GPU already.
Go on Amazon Web Services and check out what kind of hash power you can get.  You will find that you can easily get 500 MH/sec of hashpower on there.  Most of the mining so far has probably been done on there in fact.  If you were at home, mining solo with just your laptop, your chances of finding a block are quite a bit slimmer than those with 1000 nodes on AWS.  Yesterday, there were 8000 nodes on 1GH.com.  That could easily be 100% CPUs.  Having said that, catia is working on a GPU miner which should be released soon.  

Other Good Resources
There's an entire wiki explaining in detail, the what and why:
http://cryptonite.info/wiki/index.php?title=Main_Page
Join us on IRC #Cryptonite

This coin is highly experimental and could use some quality support.  If you consider for a moment the effort going into developing this, it might be humbling to worry about something other than the price and how good of a deal you can get.  The developers are releasing new updates everyday and constantly improving the clients, but there's a lot more work that can be done.  Please, if this guide answers your questions and you still want to partake, consider also helping out, or donate.  When you realize how fair the distribution is(as impossible as that seems amidst a sea of shit scams out there), consider that maybe these devs are worth trusting.

Thank you for the excellent breakdown! I'd like to raise an issue apart from the specs, however, that's currently presenting a real challenge for this coin, which is the fallout from yesterday's failure to meet most people's expectation of a Bittrex add. Clearly, it's placed downward pressure on price.

As this turn of events was so surprising to so many of us, I'd like to solicit input, particularly from the developer, as to why this occurred, and what steps are being taken to get the coin onto Bittrex.

Thanks.
Wolf0
Hero Member
*****
Offline Offline

Activity: 798
Merit: 1002


Miner Developer


View Profile
August 05, 2014, 06:02:36 PM
 #1135

Anyone mining with AMD CPU?

Please share hashrate results.

I am mining with AMD.

FX-6300@4,2 GH = 420 kH
Athlon II X2 B28 @ 3,4 GH = 150 kH
Athlon X2 4850e  @ 2,5 GH = 90 kH

Some updates as we have new miner:

FX-6300@4,2 GH = 512 kH
Athlon II X2 B28 @ 3,4 GH = 175 kH
Athlon X2 4850e  @ 2,5 GH = 105 kH
A4-6300 X2 @ 3,7 GH = 148 kH

nice

I am mining with 2 MHS  w/ AMD 1090T (only 150 W power consumption, but boxes heat up regardless) will try to push to 1,000 maybe more and wait for GPU and perform plan as above , we have plenty of time 10 years!

In my estimation if CPU botnets, there is approx 300 to 500 machines infected which is not a lot actually, my humor is getting less and less, but there is some decent innovation behind this coin, but can not have CPU only or this happens, people will mine mostly for fun (not profit) when GPU miner comes up prices will come up automatically, that's all

next time something like this is launched a link to GPU miner should be made available at the same time, if this would happen here exchanges would devour this coin like no tomorrow and miners would rejoyce

amazing, which miner do you use?

information is classified for now, but do yourself a favor and use Intel processors, AMD's are great for GPU bridge for standard mining, this coin here for me is theoretical exercise although I used my setup to mine primecoin (riecoin too) very successfully early in the days (too late now) also cloud farms but here be warned as it is unprofitable also press your local law enforcement cyber division to dismantle bot nets not just for the sake of crypto coins  Cool

Not bad. I tweaked the miner and reached 760kh/s on my CPU. i7-4770k.

Code:
Donations: BTC: 1WoLFdwcfNEg64fTYsX1P25KUzzSjtEZC -- XMR: 45SLUTzk7UXYHmzJ7bFN6FPfzTusdUVAZjPRgmEDw7G3SeimWM2kCdnDQXwDBYGUWaBtZNgjYtEYA22aMQT4t8KfU3vHLHG
jorneyflair
Hero Member
*****
Offline Offline

Activity: 672
Merit: 500


Democratizing Global Trade - ICO NOW LIVE


View Profile
August 05, 2014, 06:10:09 PM
 #1136

Where is the link for the new miner? Huh

The most efficient public miner is 1gh cpuminer-cryptonite.
My hashrates were for comparison within the range of the same software.

I know it may be already obsolete if private miners are in the game.

The hashrate increased rapidly in last hours.

Some statistics:
------------------------------------------
"blocks" : 12533,
"networkhashps" : 1863253147,
------------------------------------------
"blocks" : 13341,
"networkhashps" : 2534603317,
------------------------------------------
"blocks" : 15322,
"networkhashps" : 4792662628,
------------------------------------------
just four hours later:
------------------------------------------
"blocks" : 15556,
"networkhashps" : 6284523620,
------------------------------------------

hm...... the guy got gpu miner earns big money   Angry


            ▄▄▄▄▄▄▄▄▄
        ▄███████████████▄
     ▄█████████████████████▄
   ▄█████████████████████████▄
  █████████████████████████████
 ███████████████████████████████
▐██████   ▀████▀  ▐▌       █████▌
██████▌    ▀█▀    ███▌  █████████
██████  ▐▄    ▄  ▐███  ▐█████████
█████▌  ██▄ ▄█▌  ███▌  █████████▌
▐███████████████████████████████
 ▀█████████████████████████████
   ██████████████████████████▀
    ▀██████████████████████▀
       ▀████████████████▀▀
           ▀▀▀▀▀▀▀▀▀▀















▬▬  ▬▬  ▬▬  ▬▬  ▬▬
White Paper
▬▬  ▬▬  ▬▬  ▬▬  ▬▬
jorneyflair
Hero Member
*****
Offline Offline

Activity: 672
Merit: 500


Democratizing Global Trade - ICO NOW LIVE


View Profile
August 05, 2014, 06:11:18 PM
 #1137

wow, some addresses mine @1gh with 600MH ... thats more than 5000 haswell cores...

I really wonder why giving money to botnets is ok :S
or perhaps its just a 780ti or 7990


            ▄▄▄▄▄▄▄▄▄
        ▄███████████████▄
     ▄█████████████████████▄
   ▄█████████████████████████▄
  █████████████████████████████
 ███████████████████████████████
▐██████   ▀████▀  ▐▌       █████▌
██████▌    ▀█▀    ███▌  █████████
██████  ▐▄    ▄  ▐███  ▐█████████
█████▌  ██▄ ▄█▌  ███▌  █████████▌
▐███████████████████████████████
 ▀█████████████████████████████
   ██████████████████████████▀
    ▀██████████████████████▀
       ▀████████████████▀▀
           ▀▀▀▀▀▀▀▀▀▀















▬▬  ▬▬  ▬▬  ▬▬  ▬▬
White Paper
▬▬  ▬▬  ▬▬  ▬▬  ▬▬
LordHelma
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
August 05, 2014, 06:48:25 PM
 #1138

wow, some addresses mine @1gh with 600MH ... thats more than 5000 haswell cores...

I really wonder why giving money to botnets is ok :S
or perhaps its just a 780ti or 7990

What about Amazon Cloud it could provide him very powerfull hashrate ? I think all these ideas about GPU miner are only conspiration theories Smiley.

I'm just optimistic.
AizenSou
Hero Member
*****
Offline Offline

Activity: 938
Merit: 1000


View Profile
August 05, 2014, 07:21:21 PM
 #1139


Right... go ahead, reduce the coins to 2 million, have them all mined within a week, premine it to the shit, but it's not a scam because you have a GPU miner available at launch. If we wanted to make a nice healthy return on the immense amount of effort we put into this coin we would have simply premined it, and it was a very hard decision to go with no premine because I've spent a lot of money out of my own pocket on this coin. In all honestly we could have done a rather large premine like MOST coins do and people wouldn't be complaining as much as they are about having no GPU miner at launch. Whoever has that huge amount of hashing power might have created their own private GPU miner but we have no damn GPU miner, but catia has been working on one for the last few days and it should be available soon. You guys have no appreciation of anything we've done here and I'm sick of it. Go create your own fork of Cryptonite because I can't stand to listen to your whining any more.

Calm down bitfreak. People in crypto nowadays are mostly just teenager and greedy. If you listen to all of you, you must kill yourself first. You have done a great job, everything else is secondary.  Wink
RushNY
Member
**
Offline Offline

Activity: 74
Merit: 10


PogChamp


View Profile
August 05, 2014, 07:50:23 PM
 #1140

I cant sync my wallet, i am stuck on "Downloading headers - 5 days behind - 5789 block"...
Maybe there is somewhere in the thread about this problem i have but it is damn to long to read/search and i just hooped onto this coin...

EDIT: 103 active connections, (0 in / 103 out) and still stuck... Not downloading anything after 5789 blocks...
You have outgoing connections so I don't think it could be firewall issues, but maybe check just in case. Few things to try if doesn't come good after a few minutes: make sure you're running latest revision and try running -resync or just delete your data folder (make a backup of it first if you have any coins).

You should really add info on how to add nodes to the op under the usage section, people are asking everyday and this coin is probably losing a ton of would be miners who can't be bothered with a coin that doesn't work out of the box.

HOdlCoin - HKuon6NNgAB3CbME8H7iwXs4XKshovnaWh
Pages: « 1 ... 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 [57] 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 ... 192 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!