[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes

[OnetyOne]

I've been hearing a lot of people commenting today on how Ripple or Stellar will be the next Bitcoin and Litecoin but I honestly can't see that happening.  DarkCoin and SpreadCoin rising above other coins I can see happening but there needs to also be exchanges where people can buy SpreadCoin and DarkCoin with Fiat for it to officially be unattached from Bitcoin totally.  If that was to happen and more real world adoption was implemented into either of these two coins then I think we could see both or one of those two coins taking the top spots one day

I'm not sure if it's too early but you could contact Anycoindirect, they're a pretty big player and already sell trough sofort, ideal and various other fiat payment methods.
I almost deal with them on a daily basis and no negative exp in buying or selling LTC, BTC, DRK so far. Buying is instantly delivered (depending on the coin ofcourse) while selling you'll have your money the next business day

Edit; Meaning, a way to buy SPR directly instead of BTC <-> SPR.

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[e1ghtSpace]

http://www.reddit.com/r/Spreadcoin/

Apparently there's "~4 users here now".
How is it this popular when there's only 4 outdated discussions?

[jpouza]

hum...my wallet displayed a mined block today at 17:04 but it does not appears on my transactions...that's weird....

[mdsn]

http://www.reddit.com/r/Spreadcoin/

Apparently there's "~4 users here now".
How is it this popular when there's only 4 outdated discussions?

because reddit is for trolls and kids

[NoobKidOnTheBlock]

Price still steadily climbing and climbing folks Gotta love that Still need to score more Spread though before it really gets out of control

[Pansyfaust]

I have a question about the decentralised mining model proposition for this coin- I get the fundamentals, I  really do since I currently mine DRK over p2p, but how easy is it for one massive miner with a few GPUs, or even a botnet of CPU miners to take over the hashing power? Can the argument be made that non pooled mining might decrease the centralisation problem, but that solo mining makes the payoff for the miner an unknown quantity? Even if you are a small miner in a centralised pool system your payments for securing the network can be earned simply because you share the pool with a massive farm based mining operation; they find a block, you still win, you find a block and they still win. It may be centralised, which there are legitimate arguments against, but it also introduces certainty for the miner.

Yet, with spread, securing the blockchain becomes a task in which there is no certain payout. There is no sharing of rewards to secure the blockchain, i.e, eventually the majority of spreadcoin will be made up of big miners as the little ones will just move onto another crypto that pays out. So instead of decentralising the mining across the board, we have single entities who make it a zero sum game for smaller miners who might want to get in on spread. I say this as someone who has tried to mine the coin for a day and have not been paid out. Now I know variance exists and some days I might get very fortunate and get a couple of blocks, but the point is there is no incentive for the network to be made up of small miners and centralises distribution in the hands of the few big ones. I know the more hashrate you have the bigger piece you should get, but in a regular pool environment even the smallest miner will get a piece of that pie-in this environment it's win or lose.  Please don't see this as bashing the coin, I find the concept with this coin extremely enticing, but just imagine me as a potential miner and try to convince me to join up, explain how the end-game mining model would look for this coin later on.

After mining spread for 24 hours with my 7950 I found no blocks. Mining DRK (I have no animosity to Spread as I am mainly a DRK miner)  there were a few blocks found in that same time period over p2p.

[thelonecrouton]

I have a question about the decentralised mining model proposition for this coin- I get the fundamentals, I  really do since I currently mine DRK over p2p, but how easy is it for one massive miner with a few GPUs, or even a botnet of CPU miners to take over the hashing power? Can the argument be made that non pooled mining might decrease the centralisation problem, but that solo mining makes the payoff for the miner an unknown quantity? Even if you are a small miner in a centralised pool system your payments for securing the network can be earned simply because you share the pool with a massive farm based mining operation; they find a block, you still win, you find a block and they still win. It may be centralised, which there are legitimate arguments against, but it also introduces certainty for the miner.

Yet, with spread, securing the blockchain becomes a task in which there is no certain payout. There is no sharing of rewards to secure the blockchain, i.e, eventually the majority of spreadcoin will be made up of big miners as the little ones will just move onto another crypto that pays out. So instead of decentralising the mining across the board, we have single entities who make it a zero sum game for smaller miners who might want to get in on spread. I say this as someone who has tried to mine the coin for a day and have not been paid out. Now I know variance exists and some days I might get very fortunate and get a couple of blocks, but the point is there is no incentive for the network to be made up of small miners and centralises distribution in the hands of the few big ones. I know the more hashrate you have the bigger piece you should get, but in a regular pool environment even the smallest miner will get a piece of that pie-in this environment it's win or lose.  Please don't see this as bashing the coin, I find the concept with this coin extremely enticing, but just imagine me as a potential miner and try to convince me to join up, explain how the end-game mining model would look for this coin later on.

After mining spread for 24 hours with my 7950 I found no blocks. Mining DRK (I have no animosity to Spread as I am mainly a DRK miner)  there were a few blocks found in that same time period over p2p.

Long term you will make just as much solo mining, probably more as there are no fees involved. If you are only interested in short term dumping to BTC/fiat then this is not the currency for you.

Mining's primary goal is to secure the blockchain, not guarantee miner income. Some people have more hashpower and will thus earn more, same as any other cryptocurrency, regardless of whether they mine via a pool or solo - I'm not seeing how that situation is any better or worse with Spread than anything else. Spread just eliminates the risk of centralised bad actors.

[njs811]

Hey guys i'm new to Solo Mining, but i'm not sure that my miner is working properly.  http://tinypic.com/r/jshnja/8
Any suggestions?

[njs811]

Is anyone mining this coin currently? How much would you say that you make on an average day? (Coin Wise) Please post your hash level and expected coin intake.

[LiteMine]

Yet, with spread, securing the blockchain becomes a task in which there is no certain payout.

With only one GPU, you should care even less about regular payouts, since your electric bill is negligible from mining. If you believe in the coin, mine it and average it out over a month. I have several more GPU's and still treat mining like a hobby and don't dump for electric bills, just hodl for the future. Just buy Spreadcoin if you want to increase your holdings in the short term.

And to njs811: 24 MH/s, getting about 55-60 coins a day since the diff went past 50.

[njs811]

I actually don't pay for electric. So it doesn't bother me one way or the other. I just want an idea of what I can expect from this coin.

[LiteMine]

I actually don't pay for electric. So it doesn't bother me one way or the other. I just want an idea of what I can expect from this coin.

The first answer was for the other guy, what are you mining with?

[njs811]

I'm mining with an R9 280x

[Pansyfaust]

I have a question about the decentralised mining model proposition for this coin- I get the fundamentals, I  really do since I currently mine DRK over p2p, but how easy is it for one massive miner with a few GPUs, or even a botnet of CPU miners to take over the hashing power? Can the argument be made that non pooled mining might decrease the centralisation problem, but that solo mining makes the payoff for the miner an unknown quantity? Even if you are a small miner in a centralised pool system your payments for securing the network can be earned simply because you share the pool with a massive farm based mining operation; they find a block, you still win, you find a block and they still win. It may be centralised, which there are legitimate arguments against, but it also introduces certainty for the miner.

Yet, with spread, securing the blockchain becomes a task in which there is no certain payout. There is no sharing of rewards to secure the blockchain, i.e, eventually the majority of spreadcoin will be made up of big miners as the little ones will just move onto another crypto that pays out. So instead of decentralising the mining across the board, we have single entities who make it a zero sum game for smaller miners who might want to get in on spread. I say this as someone who has tried to mine the coin for a day and have not been paid out. Now I know variance exists and some days I might get very fortunate and get a couple of blocks, but the point is there is no incentive for the network to be made up of small miners and centralises distribution in the hands of the few big ones. I know the more hashrate you have the bigger piece you should get, but in a regular pool environment even the smallest miner will get a piece of that pie-in this environment it's win or lose.  Please don't see this as bashing the coin, I find the concept with this coin extremely enticing, but just imagine me as a potential miner and try to convince me to join up, explain how the end-game mining model would look for this coin later on.

After mining spread for 24 hours with my 7950 I found no blocks. Mining DRK (I have no animosity to Spread as I am mainly a DRK miner)  there were a few blocks found in that same time period over p2p.

Long term you will make just as much solo mining, probably more as there are no fees involved. If you are only interested in short term dumping to BTC/fiat then this is not the currency for you.

Mining's primary goal is to secure the blockchain, not guarantee miner income. Some people have more hashpower and will thus earn more, same as any other cryptocurrency, regardless of whether they mine via a pool or solo - I'm not seeing how that situation is any better or worse with Spread than anything else. Spread just eliminates the risk of centralised bad actors.

Without guarantee of income, what incentive is there for mining? Securing the blockchain is pointless if there is no reward for doing so? And no, I am not dumping my mined coins(even though I should have, would have been able to buy a lot more of them back if I had).

Also, there are little to no fees with p2p mining as well, but that decentralises the network and somewhat secures continuous reward. At this point in time my biggest method of generating coins for myself is to mine them and not buy them, so that is what I do so to be told that mining is not meant for income seems incongruous since without us there is no coin at all. I guess what I am trying to say is that as a miner, you know, the people who secure the network and make it so that transactions can be conducted, are not really benefiting if they have to mine an "hope" they find blocks.

Is there any chart that shows mining hashrate distribution by address?

[Pansyfaust]

Yet, with spread, securing the blockchain becomes a task in which there is no certain payout.

With only one GPU, you should care even less about regular payouts, since your electric bill is negligible from mining. If you believe in the coin, mine it and average it out over a month. I have several more GPU's and still treat mining like a hobby and don't dump for electric bills, just hodl for the future. Just buy Spreadcoin if you want to increase your holdings in the short term.

And to njs811: 24 MH/s, getting about 55-60 coins a day since the diff went past 50.

I have a rig with four 280X GPUs mining DRK at the moment, my home PC has a 7950 on it, so I was testing with that. I'm just questioning the mining model since it seems GPU miners cannot secure any GPU based POW coin

[nonce-pool]

We found mining with small hashrate very lackluster with an unknown outcome. Now whom might be interested in joining a private pool if we was to create one? 

[njs811]

It would be nice to join a pool, but not really possible. Even if someone could figure out a pool for Spreadcoin it would destroy the coins value. Isn't the lack of pools the entire purpose?

[LiteMine]

Yet, with spread, securing the blockchain becomes a task in which there is no certain payout.

With only one GPU, you should care even less about regular payouts, since your electric bill is negligible from mining. If you believe in the coin, mine it and average it out over a month. I have several more GPU's and still treat mining like a hobby and don't dump for electric bills, just hodl for the future. Just buy Spreadcoin if you want to increase your holdings in the short term.

And to njs811: 24 MH/s, getting about 55-60 coins a day since the diff went past 50.

I have a rig with four 280X GPUs mining DRK at the moment, my home PC has a 7950 on it, so I was testing with that. I'm just questioning the mining model since it seems GPU miners cannot secure any GPU based POW coin

My point was that "almost nothing" isn't a lot better than "nothing", when you're looking at mining a few dollars a day in coin. You can buy SPR with lunch money if you have access to a BTC market.

The model is what Satoshi intended, and otherwise the coin would be raped by multipools, making mining pointless once again. I had turned off my rigs for months and just recently began to have some fun again because of SPR. I just hope the party lasts a while because no one knows how to solo anymore.

[thelonecrouton]

Without guarantee of income, what incentive is there for mining? Securing the blockchain is pointless if there is no reward for doing so?

Keep mining and you will earn reward commensurate with your hashrate. What more do you want?

[NoobKidOnTheBlock]

Quick question does anyone roughly know what it costs to mine SpreadCoin right now? I'm just wondering where to set my next buys around