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Author Topic: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine  (Read 567404 times)
Stormbringer
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August 09, 2014, 10:03:23 AM
 #1441

Difficulty shoots up from 272443 to 296887 and network hash from 5771527362 to 6861833433 in just a few hours.  Miners are going to get less coins for sure.

Latest stats:

    "difficulty" : 296887.91143143,
    "networkhashps" : 6861833433,


If diff is going up, miners get less coins, shouldn't that affect the price go up?

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Crypto_Enthusiast
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August 09, 2014, 10:15:07 AM
 #1442

Difficulty shoots up from 272443 to 296887 and network hash from 5771527362 to 6861833433 in just a few hours.  Miners are going to get less coins for sure.

Latest stats:

    "difficulty" : 296887.91143143,
    "networkhashps" : 6861833433,


If diff is going up, miners get less coins, shouldn't that affect the price go up?

In theory yes, providing the demand stays the same or increases.

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truckythin
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🌟ATLANT ICO 24hr LEFT🌟


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August 09, 2014, 10:42:04 AM
 #1443

New miner up. Getting 3.5-3.9 on various 750ti. Let me know results on AWS.
Quote
[2014-08-09 10:40:09] accepted: 1937/1977 (97.98%), 3760 khash/s (yay!!!)
Checkhash found a winner, nonce 568174063878406855
[2014-08-09 10:40:21] thread 0: 45088768 hashes, 3684 khash/s
[2014-08-09 10:40:21] accepted: 1938/1978 (97.98%), 3684 khash/s (yay!!!)
Checkhash found a winner, nonce 616279471415100103
[2014-08-09 10:40:24] thread 0: 11010048 hashes, 3646 khash/s
[2014-08-09 10:40:24] accepted: 1939/1979 (97.98%), 3646 khash/s (yay!!!)
Checkhash found a winner, nonce 735945171611419335
[2014-08-09 10:40:32] thread 0: 27787264 hashes, 3763 khash/s
[2014-08-09 10:40:32] accepted: 1940/1980 (97.98%), 3763 khash/s (yay!!!)
Checkhash found a winner, nonce 857514607471755975
[2014-08-09 10:40:39] thread 0: 27787264 hashes, 3728 khash/s
[2014-08-09 10:40:39] accepted: 1941/1981 (97.98%), 3728 khash/s (yay!!!)
[2014-08-09 10:40:41] Stratum requested work restart
[2014-08-09 10:40:41] thread 0: 6815744 hashes, 3766 khash/s
[2014-08-09 10:40:47] Stratum requested work restart
[2014-08-09 10:40:47] thread 0: 23068672 hashes, 3701 khash/s
Checkhash found a winner, nonce 110171748004004551
[2014-08-09 10:40:54] thread 0: 25165824 hashes, 3407 khash/s
[2014-08-09 10:40:54] accepted: 1942/1982 (97.98%), 3407 khash/s (yay!!!)
Checkhash found a winner, nonce 118741801192391367
[2014-08-09 10:40:55] thread 0: 1572864 hashes, 3774 khash/s
[2014-08-09 10:40:55] accepted: 1943/1983 (97.98%), 3774 khash/s (yay!!!)

crimealone
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August 09, 2014, 11:32:04 AM
 #1444

Is the GPU version released??

istvandv
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August 09, 2014, 11:44:35 AM
 #1445

Is the GPU version released??

only CUDA miner which you can find here:
https://github.com/MiniblockchainProject/CudaMiner

i have not tried it though cause my GPU is AMD

cubex
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August 09, 2014, 01:12:35 PM
 #1446

Difficulty shoots up from 272443 to 296887 and network hash from 5771527362 to 6861833433 in just a few hours.  Miners are going to get less coins for sure.

Latest stats:

    "difficulty" : 296887.91143143,
    "networkhashps" : 6861833433,


If diff is going up, miners get less coins, shouldn't that affect the price go up?

In theory yes, providing the demand stays the same or increases.

Network difficulty has risen rapidly. It has broken 310000, now at 311201 in just a short time.  It is amazing.

Long-time dedicated and experienced witness bitcube
vote_for_witness "YOURACCOUNTNAME" "bitcube" true true
zver91
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August 09, 2014, 01:30:10 PM
 #1447

Difficulty shoots up from 272443 to 296887 and network hash from 5771527362 to 6861833433 in just a few hours.  Miners are going to get less coins for sure.

Latest stats:

    "difficulty" : 296887.91143143,
    "networkhashps" : 6861833433,


If diff is going up, miners get less coins, shouldn't that affect the price go up?

In theory yes, providing the demand stays the same or increases.


Even in theory price is independent of difficulty. Diff depends of the price, but price - didn't. The price of XCN was too high from the start (pumped from start because someone have mine plenty of XCN using botnets and Amazon CPU's). So wait for the fall.  Undecided
wyj1888
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August 09, 2014, 03:26:04 PM
 #1448

Network difficulty has risen rapidly! the price always falling !! why?
cubex
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August 09, 2014, 03:27:45 PM
 #1449

Difficulty shoots up from 272443 to 296887 and network hash from 5771527362 to 6861833433 in just a few hours.  Miners are going to get less coins for sure.

Latest stats:

    "difficulty" : 296887.91143143,
    "networkhashps" : 6861833433,


If diff is going up, miners get less coins, shouldn't that affect the price go up?

In theory yes, providing the demand stays the same or increases.


Even in theory price is independent of difficulty. Diff depends of the price, but price - didn't. The price of XCN was too high from the start (pumped from start because someone have mine plenty of XCN using botnets and Amazon CPU's). So wait for the fall.  Undecided

In practice, price affects diff and diff in turn will affect price. The price was high when XCN just launched but soon it came down when the few miners with private mining software sold their coins. The situation has changed with the launched of the public gpu mining software and the active optimisation of the gpu miner by the dev. It created a level-playing field where many more miners can come in to mine XCN and sell them for a reasonable profit.  However, as network difficulty shoots up, these miners will be mining very much less coins. They will not be able sell their coins at the same low price.  They either sell their coins at a higher price or they give up mining XCN.  

The network hash is breaking 318000 as I write.

Long-time dedicated and experienced witness bitcube
vote_for_witness "YOURACCOUNTNAME" "bitcube" true true
cubex
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August 09, 2014, 03:31:50 PM
 #1450

Network difficulty has risen rapidly! the price always falling !! why?

No. The price was stagnated at 0.000014 for a long while and it is slowly climbing up.  I believe as more miners discover they will be mining much less coins, they will start asking for a higher price to justify their cost, time and effort.

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Wolf0
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August 09, 2014, 03:42:29 PM
 #1451

I tried f4828121a42f28e92d4266307f02a8ea7847de69 from catia's git in my code for shits and giggles; slows it down, so my version is better. However, I think the idea is good, may work well with some heavy editing.

Code:
Donations: BTC: 1WoLFdwcfNEg64fTYsX1P25KUzzSjtEZC -- XMR: 45SLUTzk7UXYHmzJ7bFN6FPfzTusdUVAZjPRgmEDw7G3SeimWM2kCdnDQXwDBYGUWaBtZNgjYtEYA22aMQT4t8KfU3vHLHG
xyjcoin
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August 09, 2014, 03:49:07 PM
 #1452

Difficulty Rise, but networkhash down. Showes some one give up mining the coin .

06:22:29

{
"blocks" : 20628,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 275739.30446906,
"errors" : "",
"genproclimit" : -1,
"networkhashps" : 6027489690,
"pooledtx" : 2,
"testnet" : false,
"generate" : false,
"hashespersec" : 0
}


23:38:00

getmininginfo


23:38:00

{
"blocks" : 21904,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 318958.52325648,
"errors" : "",
"genproclimit" : -1,
"networkhashps" : 5529447830,
"pooledtx" : 1,
"testnet" : false,
"generate" : false,
"hashespersec" : 0
}

XCN : CP65UYMfTi8obwhGk45zF581kJYnxDpWtq
Fablio2
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August 09, 2014, 04:52:57 PM
 #1453

.........They either sell their coins at a higher price or they give up mining XCN.........
After they give up mining XCN diff goes down and miners will receive more coins, but price not groes up after that. Price will be higher if there be any serious investors. At the present time investors are interested coins with limited POW (7-30 days). But XCN have POW period for many many years Sad.

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August 09, 2014, 05:07:58 PM
 #1454

.........They either sell their coins at a higher price or they give up mining XCN.........
After they give up mining XCN diff goes down and miners will receive more coins, but price not groes up after that. Price will be higher if there be any serious investors. At the present time investors are interested coins with limited POW (7-30 days). But XCN have POW period for many many years Sad.


Well, I am seeing a group of investors/buyers who are good at bottom-fishing.  They are building up a strong buy at 0.0000140 (19K) and 0.0000139 (100K) when the nearest willing seller is at 0.0000145.  It is going to be a game of who will give up first.

Edit: Network diff has broken 320K at 323720.

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cubex
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August 09, 2014, 06:08:05 PM
 #1455

I was running win64_cryptonite-qt_14080613.exe (changed to this version based on the dev's notice) but it crashed. When I try to re-open the qt wallet, it says "Incorrect or no genesis block found. Wrong datadir for network?".

What is wrong with the wallet QT?

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catia
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August 09, 2014, 06:13:20 PM
 #1456

I was running win64_cryptonite-qt_14080613.exe (changed to this version based on the dev's notice) but it crashed. When I try to re-open the qt wallet, it says "Incorrect or no genesis block found. Wrong datadir for network?".

What is wrong with the wallet QT?

Can run with -resync option to repair block database. Can't help you with the crash. Will need better bug report, logs, crash dump etc.
marcoman22
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August 09, 2014, 06:13:59 PM
 #1457

wallet is not syncing at all what is the problem
PeaMine
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August 09, 2014, 06:19:46 PM
 #1458

.........They either sell their coins at a higher price or they give up mining XCN.........
After they give up mining XCN diff goes down and miners will receive more coins, but price not groes up after that. Price will be higher if there be any serious investors. At the present time investors are interested coins with limited POW (7-30 days). But XCN have POW period for many many years Sad.


Well, I am seeing a group of investors/buyers who are good at bottom-fishing.  They are building up a strong buy at 0.0000140 (19K) and 0.0000139 (100K) when the nearest willing seller is at 0.0000145.  It is going to be a game of who will give up first.

Edit: Network diff has broken 320K at 323720.

I'm part of that strong buy wall, each time it goes down, I get a few more cheap coins, hold on to some or put at a crazy high sell price, sell the rest at a much higher price when it rebounds.  It's been a good coin to invest in so far  Cool
I'm no whale though, more of a porpoise, but others have 5+ BTC buys slightly under what I'm buying in at, pretty healthy.

Datacenter Technician and Electrician
cubex
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August 09, 2014, 07:40:41 PM
 #1459

I was running win64_cryptonite-qt_14080613.exe (changed to this version based on the dev's notice) but it crashed. When I try to re-open the qt wallet, it says "Incorrect or no genesis block found. Wrong datadir for network?".

What is wrong with the wallet QT?

Can run with -resync option to repair block database. Can't help you with the crash. Will need better bug report, logs, crash dump etc.

Thanks for the super prompt reply.  I will try it.

Long-time dedicated and experienced witness bitcube
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Fablio2
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August 09, 2014, 07:50:11 PM
 #1460

Read my post 1 month later. Now price is 0.00001590. Price will be much lower, may be 0.00000200 (x8 lower)
Why?
1. XCN was already pumped
2. XCN have too much coins (1.84 billion!!!)
3. XCN have POW period for many many years (Investors will be very difficult to control the price.)

P.S. I lost on this coin some BTC, because of that I made some posts here.
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