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

[MyFarm]

I think we will see a very unsymmetrical distribution of SPR amounts.

The fewest MNs at the top (with high amounts of SPR), and the most MNs around the bottom (with low amounts of SPR).

The drive to always decrease your SPR amount close to the absolute minimum of 100 SPR will never go away!

Even if all your MNs have 1000 SPR in them, everyday you will think about all the profit that you are missing by NOT splitting them up into smaller entities.
And everybody else will have the same thoughts in his head!

The profit incentive is insane, because we are talking about a profit multiplication with every division.

That's a good point as well.  I hadn't thought of that.  Interesting.

[1714992973]

1714992973

[girino]

Is there a CPU (not gpu) miner for SPR ?

Best would be one based on "minerd"

you  can use your own wallet for that, there's a cpu miner embedded in it.

Yes but if I have 25 linux VPS'es and want to hash from that...

you run 25 wallets with the same privkey on the conf file, as described here:

Mining
You can mine directly from the wallet, just go to the mining tab and press 'Start mining', you will start mine to your wallet. Thread about mining SpreadCoin: https://bitcointalk.org/index.php?topic=869289

Also you can mine to a specific address (this is useful if you are mining on several computers). To do so:
1. Use existing or better generate a new address.
2. Open debug console (Tools -> Debug Console) and enter:
Quote
dumpprivkey SYourSpreadCoinAddress
3. You will get your private key. Then open spreadcoin.conf or create it if it doesn't exist (D:\Users\<username>\AppData\Roaming\SpreadCoin\spreadcoin.conf on Windows) and add the following line:
Quote
miningprivkey=YourPrivateKey
4. Restart your wallet if it was running.
In the Mining tab you will now see notification that all mined coins will go to this address.

I cannot install 25 wallets on 25 vpses   lol..

Why is there no minerd for this coin? You have ported sgminer and cgminer so minerd should not be the challenge

because no one needed one until now.

[girino]

Is there a CPU (not gpu) miner for SPR ?

Best would be one based on "minerd"

you  can use your own wallet for that, there's a cpu miner embedded in it.

Yes but if I have 25 linux VPS'es and want to hash from that...

you run 25 wallets with the same privkey on the conf file, as described here:

Mining
You can mine directly from the wallet, just go to the mining tab and press 'Start mining', you will start mine to your wallet. Thread about mining SpreadCoin: https://bitcointalk.org/index.php?topic=869289

Also you can mine to a specific address (this is useful if you are mining on several computers). To do so:
1. Use existing or better generate a new address.
2. Open debug console (Tools -> Debug Console) and enter:
Quote
dumpprivkey SYourSpreadCoinAddress
3. You will get your private key. Then open spreadcoin.conf or create it if it doesn't exist (D:\Users\<username>\AppData\Roaming\SpreadCoin\spreadcoin.conf on Windows) and add the following line:
Quote
miningprivkey=YourPrivateKey
4. Restart your wallet if it was running.
In the Mining tab you will now see notification that all mined coins will go to this address.

I cannot install 25 wallets on 25 vpses   lol..

Why is there no minerd for this coin? You have ported sgminer and cgminer so minerd should not be the challenge

because no one needed one until now.

But then, why can't you install 25 wallets on 25 VPS? they're easier to install than minerd... and you can usually create a single VPS and clone it 25 times, can't you?

[MyFarm]

500 SPR bounty for a step by step guide with screenshots for setting up a masternode on a VPS.

[mrcashking]

Retweet my tweet for a chance to win 110 Spreadcoins I will choose the winner at 9PM EST

https://twitter.com/MRCASHKING/status/560900375101071361

[ocminer]

Is there a CPU (not gpu) miner for SPR ?

Best would be one based on "minerd"

you  can use your own wallet for that, there's a cpu miner embedded in it.

Yes but if I have 25 linux VPS'es and want to hash from that...

you run 25 wallets with the same privkey on the conf file, as described here:

Mining
You can mine directly from the wallet, just go to the mining tab and press 'Start mining', you will start mine to your wallet. Thread about mining SpreadCoin: https://bitcointalk.org/index.php?topic=869289

Also you can mine to a specific address (this is useful if you are mining on several computers). To do so:
1. Use existing or better generate a new address.
2. Open debug console (Tools -> Debug Console) and enter:
Quote
dumpprivkey SYourSpreadCoinAddress
3. You will get your private key. Then open spreadcoin.conf or create it if it doesn't exist (D:\Users\<username>\AppData\Roaming\SpreadCoin\spreadcoin.conf on Windows) and add the following line:
Quote
miningprivkey=YourPrivateKey
4. Restart your wallet if it was running.
In the Mining tab you will now see notification that all mined coins will go to this address.

I cannot install 25 wallets on 25 vpses   lol..

Why is there no minerd for this coin? You have ported sgminer and cgminer so minerd should not be the challenge

because no one needed one until now.

But then, why can't you install 25 wallets on 25 VPS? they're easier to install than minerd... and you can usually create a single VPS and clone it 25 times, can't you?

These are active VPS'es, I cannot clone / renew them or do anything special with them.

Minerd is just one program, I need to compile it once and I cant set it up on every VPS without anything special. It is up and running in < 1 minute without download blockchain etc.

[ocminer]

Oh and could you put up some testnet nodes ?

https://github.com/spreadcoin-project/spreadcoin/blob/master/src/net.cpp#L1207

The ones from darkcoin don't work, neither do none at all

[Jesse Livermore]

I took a hack at trying to figure out what the average mn size might be in SPR given 1440 risk possible MN's.
Since there are currently 1.71 million SPR in circulation and since most holders want to have as many mn's as is possible given total holdings this would imply an average SPR per mn of about 1190 SPR.
Now the distribution of 1440 mn's, if it is similar to the testnet, will be overall similar in size with gradual increases and decreases.
So if you assume a gradual increase and decrease of about 10 SPR in either direction per 100 mn's until all coins in circulation are used up you get a total range of 1120-1260.
The biggest wildcard here will be exactly what % of total coins in circulation will be in mn's... There's no way it'll be anywhere close to 100%, at least not this early in the game.

JL

Any comments?

I think we will see a very unsymmetrical distribution of SPR amounts.

The fewest MNs at the top (with high amounts of SPR), and the most MNs around the bottom (with low amounts of SPR).

The drive to always decrease your SPR amount close to the absolute minimum of 100 SPR will never go away!

Even if all your MNs have 1000 SPR in them, everyday you will think about all the profit that you are missing by NOT splitting them up into smaller entities.
And everybody else will have the same thoughts in his head!

The profit incentive is insane, because we are talking about a profit multiplication with every division.

You're right, this is going to be an insane game of economics and human behavior.

[georgem]

You're right, this is going to be an insane game of economics and human behavior.

Absolutely.

Imagine someone having an MN with 20k SRP.
He recieves 1 payment a day.
He may be sitting on top of everybody else, having 1439 smaller MNs below him.
Let's call that his condition 1.

Now he decides to split those 20k SPR into 20 x 1000 SPR nodes,
so he recieves 20 payments a day,
plus kicks the lowest 19 people out of the race. How mean.
Let's call that condition 2.

Then he decides to split those 20 nodes into 100 x 200 SPR nodes,
so he recieves 100 payments a day,
plus kicks the lowest 99 people out of the race. Now that's diabolical.  
Let's call that condition 3.

Then he stays in condition 3 for 24 hours, and slowly goes back to condition 2 the next day, and then condition 1 again.

My god, could such a thing be automatized and repeated over and over again?

Yep... implications? A lot of naive people wising up and improving their strategies, so that 20k SPR guy can't play this game again next time. Or atleast make it harder for him.

[MyFarm]

It's much more complicated than that though.  Because if you stop an existing masternode, you then have to go through the election process again once you restart during which time you're not getting paid and go to the end of the line.

What I'm wondering is if we have 1400 masternodes with 101+ SPR and 40 with 100 SPR, when another 101+ SPR masternode is added, which of those 100 SPR masternodes gets booted since they all have the same number of SPR?

[Jesse Livermore]

You're right, this is going to be an insane game of economics and human behavior.

Absolutely.

Imagine someone having an MN with 20k SRP.
He recieves 1 payment a day.
He may be sitting on top of everybody else, having 1439 smaller MNs below him.
Let's call that his condition 1.

Now he decides to split those 20k SPR into 20 x 1000 SPR nodes,
so he recieves 20 payments a day,
plus kicks the lowest 19 people out of the race. How mean.
Let's call that condition 2.

Then he decides to split those 20 nodes into 100 x 200 SPR nodes,
so he recieves 100 payments a day,
plus kicks the lowest 99 people out of the race. Now that's diabolical.  
Let's call that condition 3.

Then he stays in condition 3 for 24 hours, and slowly goes back to condition 2 the next day, and then condition 1 again.

My god, could such a thing be automatized and repeated over and over again?

Yep... implications? A lot of naive people wising up and improving their strategies, so that 20k SPR guy can't play this game again next time. Or atleast make it harder for him.

Imagine condition 3: dude's earning what 200 SPR or so per day and can either plop it down on another mn or cushion his other mn's.
This is gonna be nutty.

[georgem]

It's much more complicated than that though.  Because if you stop an existing masternode, you then have to go through the election process again during which time you're not getting paid and go to the end of the line.

Yes, I ommited that deliberately, so that it doesn't get too complex. One step at a time.

So, how long does it take on average to change your 1 masternode into 10 masternodes?

And can this time be improved?

For me, it took me on average about 1 hour for the 50 confirmations, and 3 hours from start to election.

How long did it take you guys?

EDIT: obviously the 1 hour for the 50 confirmations can be ommited by having those amounts already prepared and confirmed earlier.
But this is going to be so costly because you would need such large amounts of SPR.
That means, if we have the 20k SPR guy, who wants to switch to 20x 1000 SPR MNs, if he wanted to skip the confirmation time for those 20 MNs, he would need to own atleast 40k SPR in total.

[Jesse Livermore]

It's much more complicated than that though.  Because if you stop an existing masternode, you then have to go through the election process again once you restart during which time you're not getting paid and go to the end of the line.

What I'm wondering is if we have 1400 masternodes with 101+ SPR and 40 with 100 SPR, when another 101+ SPR masternode is added, which of those 100 SPR masternodes gets booted since they all have the same number of SPR?

Last in first out or first in first out? I'd go with last in first out.

[LucD88]

...

Imagine condition 3: dude's earning what 200 SPR or so per day and can either plop it down on another mn or cushion his other mn's.
This is gonna be nutty.

Is that a good or a bad thing?

[MyFarm]

It's much more complicated than that though.  Because if you stop an existing masternode, you then have to go through the election process again once you restart during which time you're not getting paid and go to the end of the line.

What I'm wondering is if we have 1400 masternodes with 101+ SPR and 40 with 100 SPR, when another 101+ SPR masternode is added, which of those 100 SPR masternodes gets booted since they all have the same number of SPR?

Last in first out or first in first out? I'd go with last in first out.

I asked on Spreadcointalk.  Hopefully Mr. Spread will respond.

[thelonecrouton]

None of you are thinking aggressively enough...  

[MyFarm]

None of you are thinking aggressively enough...  

I WILL BUY EVERY SPREADCOIN IN EXISTENCE AND OWN EVERY MASTERNODE.

How is that?

[defunctec]

None of you are thinking aggressively enough...  

I WILL BUY EVERY SPREADCOIN IN EXISTENCE AND OWN EVERY MASTERNODE.

How is that?

Your going to be short a few thousand...  :p

[georgem]

None of you are thinking aggressively enough...  

Well, the total amount of aggression within a free market can't really be understood by humans, that's why it creates so many victims.  
(but also insane amounts of profit and innovation which in turn is the main driver for human prosperity. So all is good, all is well!)

[Jesse Livermore]

None of you are thinking aggressively enough...  

Very hypothetical: If I'm a nefarious actor and I have enough SPR to knock off the 1440 lowest mn's with my mn's and then I suddenly pull the plug on my mn's (sell), will there suddenly be a loss of 1440 mn's or are there replacements (below the SPR threshold) always running in the background waiting to fill the gaps?