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

[georgem]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

It's good that we don't have (multi)pools that would constantly sell their coins into the bidders hands, ... and drive down the price.

I don't think those are SPR miners who are selling cheap.

I guess we are just in a transformation phase.
We have seen large dumping in the past few days. And this is probably not over yet.

But also: many people have already made up their mind that SPR is much more valuable than the actual price.
People are very content with this first testing phase. Everything worked as planned and the community has shown good teamwork on a large scale.
I think with a growing community, even more dev output and testing, this coin has so much more potential.

Don't let the dumpers and cheapsellers disturb you, their amount of SPR that they can dump is running out fast.

[luigi1111]

Fun fact:

We are now on page 2^8.

Could that be expressed as 2^2^2^2?

No.

You need 2^2^3. Using 2^2^(2^2) instead of (3) results in your number being a "bit" off: 65,536. Note that with exponents in this form you must work backwards, so the format can be a bit confusing; it makes more sense in standard superscript form.

2²²²

Edit: this would work as well: ((2^2)^2)^2

[njs811]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

Spreadcoin is still not finished.  It has a ton of potential and a great development team.  The best thing we can do is grab as much spread as we can and sit on it.  Once the supply is cut off then it wont be long until we hit $1 spr, $10 spr, or even $100 spr.  Masternodes are the way to go for someone who does not have a decent mining rig.  Once the secret is out how easy it is to get the coin with masternodes people will freak trying to get ahold of enough. I would suggest a minimum of 200 spr per masternode to beat out the newcomers.

[jpouza]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

Spreadcoin is still not finished.  It has a ton of potential and a great development team.  The best thing we can do is grab as much spread as we can and sit on it.  Once the supply is cut off then it wont be long until we hit $1 spr, $10 spr, or even $100 spr.  Masternodes are the way to go for someone who does not have a decent mining rig.  Once the secret is out how easy it is to get the coin with masternodes people will freak trying to get ahold of enough. I would suggest a minimum of 200 spr per masternode to beat out the newcomers.

SPR needs buy support, at least 100 BTC to reach a decent price.

[MyFarm]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

Weak hands getting weeded out.  Simple as that. 

[hefty]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

Weak hands getting weeded out.  Simple as that.  

lots of people that sells last few days that get into spread early not by mining (some of my friends) they all get into UNB, fast money

im still undecided buy more spread now or go there 2 

[defunctec]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

Weak hands getting weeded out.  Simple as that.  

lots of people that sells last few days that get into spread early not by mining (some of my friends) they all get into UNB, fast money

im still undecided buy more spread now or go there 2 

You go get your "fast money".

[thelonecrouton]

Where are you getting the idea that it costs people 50k sats to mine one SPR?

These numbers are pulled straight out of my arse but are maybe in the right ballpark:


Average rig of 5 * 750 Ti cards gets you 7.5MH/s @ 300W, and about 2 blocks/day ~12 SPR/day

Electricity @ $0.20 / kW/h (it's probably higher than this in most of W Europe) so 0.3 kW * 24hrs * £0.20 = $1.44/day

12 SPR cost $1.44 to mine so $0.12/SPR which at $230/BTC = 0.00052 BTC per mined SPR.

My arifmatik is terrible though... 

[NoobKidOnTheBlock]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

Where are you getting the idea that it costs people 50k sats to mine one SPR?

I just read previous posts in the thread where people were saying that it was costing 50k to mine SpreadCoin for them and I was asking how they came up with those numbers and never really got a straight answer because I thought how could someone figure out what it is costing to mine this coin? I'm very Noobish to the whole mining concept so was hoping someone could explain to me how to figure out what mining costs for this coin is and how that could be figured out?

[defunctec]

Where are you getting the idea that it costs people 50k sats to mine one SPR?

These numbers are pulled straight out of my arse but are maybe in the right ballpark:


Average rig of 5 * 750 Ti cards gets you 7.5MH/s @ 300W, and about 2 blocks/day ~12 SPR/day

Electricity @ $0.20 / kW/h (it's probably higher than this in most of W Europe) so 0.3 kW * 24hrs * £0.20 = $1.44/day

12 SPR cost $1.44 to mine so $0.12/SPR which at $230/BTC = 0.00052 BTC per mined SPR.

My arifmatik is terrible though... 

Sounds about right too me.

What would the mining cost's be if SPR's hashrate was 8Gh (10% of darkcoins hashrate)?

[defunctec]

So quick question about the price..... If apparently it is costing people around 50k for mining and with the introduction of masternodes people are estimating that the price for mining would then be 71k a coin then why are there still people dumping this coin or suppressing the price? I mean I'm not complaining because that's more and more cheap SpreadCoin for me But I'm just kind of lost as to why people would sell their coins for less than they cost to apparently mine? If someone could maybe shine some light on this for me that would be greatly appreciated Cheers

Where are you getting the idea that it costs people 50k sats to mine one SPR?

I just read previous posts in the thread where people were saying that it was costing 50k to mine SpreadCoin for them and I was asking how they came up with those numbers and never really got a straight answer because I thought how could someone figure out what it is costing to mine this coin? I'm very Noobish to the whole mining concept so was hoping someone could explain to me how to figure out what mining costs for this coin is and how that could be figured out?

If you're a miner you can just add up how many coins you mine over a month, and then look at your energy bill to mine those coins.

So 100 SPR mined cost me $20, this would make "your" mining cost $0.20 per SPR.

[NoobKidOnTheBlock]

Thanks for all the answers guy I really appreciate that because I'm still Noobish to the whole mining scene and don't technically know exactly how people were figuring those numbers out but now I got a grasp on what is going on with that Cheers

[e1ghtSpace]

Hey guys, can someone please confirm that my little program works;



It's gotten to a point where I don't even know what I've done.

blockreward starts at 6.66

Code:

blockreward=blockreward-((halvingblockreward/2)/blockhalving)

I used an app called Codea to do this. If anyone wants the code, here it is:

Code:

-- Spreadcoin Block Counter

-- Use this function to perform your initial setup
function setup()
    curblock=0
    blocksperday=1440
    blockhalving=2102400
    blockreward=6.66
    halvingblockreward=6.66
    totalcoins=0
    hour=1
end



function draw()

    background(45, 45, 45, 255)
    
    --Each block reward is:
    
    for i = 1,60 do
    
    blockreward=blockreward-((halvingblockreward/2)/blockhalving)
    
    curblock=curblock+1
    
    totalcoins=totalcoins+blockreward
    
        if blockreward < halvingblockreward /2 then
            halvingblockreward=halvingblockreward/2
        end
    
    end
    
    hour=hour+1
    
    
    day=hour/24
    
    rtotalcoins=math.floor(totalcoins)
    day=math.floor(day)
    
    font("AcademyEngravedLetPlain")
    fontSize(70)
    fill(241, 0, 255, 255)
    text("Spreadcoin Moneysupply Counter", WIDTH/2, HEIGHT/2 + 300)
    
    fontSize(50)
    font("HelveticaNeue-Light")
    fill(255, 0, 147, 255)
    text("Blockreward: "..blockreward, WIDTH/2, HEIGHT/2 + 100)
    text("Total Coins: "..rtotalcoins, WIDTH/2, HEIGHT/2)
    text("Day: "..day, WIDTH/2, HEIGHT/2-100)
    text("Current Block: "..curblock, WIDTH/2, HEIGHT/2-200)
    
end

The only problem is 13 decimals. I'll need to figure out how to round that.

[ivcelmik]

Hey guys, can someone please confirm that my little program works;



It's gotten to a point where I don't even know what I've done.

blockreward starts at 6.66

Code:

blockreward=blockreward-((halvingblockreward/2)/blockhalving)

I used an app called Codea to do this. If anyone wants the code, here it is:

Code:

-- Spreadcoin Block Counter

-- Use this function to perform your initial setup
function setup()
    curblock=0
    blocksperday=1440
    blockhalving=2102400
    blockreward=6.66
    halvingblockreward=6.66
    totalcoins=0
    hour=1
end



function draw()

    background(45, 45, 45, 255)
    
    --Each block reward is:
    
    for i = 1,60 do
    
    blockreward=blockreward-((halvingblockreward/2)/blockhalving)
    
    curblock=curblock+1
    
    totalcoins=totalcoins+blockreward
    
        if blockreward < halvingblockreward /2 then
            halvingblockreward=halvingblockreward/2
        end
    
    end
    
    hour=hour+1
    
    
    day=hour/24
    
    rtotalcoins=math.floor(totalcoins)
    day=math.floor(day)
    
    font("AcademyEngravedLetPlain")
    fontSize(70)
    fill(241, 0, 255, 255)
    text("Spreadcoin Moneysupply Counter", WIDTH/2, HEIGHT/2 + 300)
    
    fontSize(50)
    font("HelveticaNeue-Light")
    fill(255, 0, 147, 255)
    text("Blockreward: "..blockreward, WIDTH/2, HEIGHT/2 + 100)
    text("Total Coins: "..rtotalcoins, WIDTH/2, HEIGHT/2)
    text("Day: "..day, WIDTH/2, HEIGHT/2-100)
    text("Current Block: "..curblock, WIDTH/2, HEIGHT/2-200)
    
end

The only problem is 13 decimals. I'll need to figure out how to round that.

1 SPR should be at least 1$

[NoobKidOnTheBlock]

I agree that SpreadCoin should easily be worth $1 a coin and I'm guessing that one day it will be but I still believe that we have to get the word out more and more to other traders and investors that are looking for a solid investment and I can't stress that enough I honestly think that SpreadCoin needs to start a Marketing Crew and PR crew to start SPREADING the word about this coin and informing people on why this coin is a good coin to invest in and that it will be a long term coin that will grow rapidly once the masses realize what an opportunity that this coin is

[mrcashking]

I could do some full blown Promotion but I have to wait until some of these features are fully implemented. Alot of my crypto followers were messaging me to find out about the masternodes and I had to tell them it's in development in the testing stage. So we have to wait for the new features before we can actually do any real marketing and PR. as of right now we have nothing to back it up just the testnet testing. I can say hey we got all these new features. Then they come checkout the coin and none of these features are implemented yet. So we lose potential spreadcoiners who would rather wait. It's better to do the PR when the features are actually here and out of the testing phase. Those who believe in Mr.Spread and buy in early will be very happy when those features arrive.

[e1ghtSpace]

I have now built a live graph into my program.


This is what the block reward will be in 30 years.

HODL!

[mrcashking]

InstantX transactions are working right now on testnet people!

Did everyone forget about instant transactions?

Which transactions can be made instantly?
Currently these are all transactions with less than 15 inputs and fee of at least 0.001 SPR per input.

Set your fee (Settings -> Options -> Main) to something like 0.01 SPR and then make transaction, e.g. just send money to yourself. Then go to the transactions tab and hold mouse over this transaction, you will see (0 of 6 confirmations, 0 of 7 masternode confirmations). The number of masternode confirmations will update when next block will be mined (in fact it is updated much earlier, it is just that the list of transactions in GUI is updated only each block which makes masternode confirmations rather useless right now).

Notice that instant transactions are still incomplete:

What is the state of instant transactions implementation in SpreadCoin?
Most effort was put into developing masternode election/payments mechanism, instant transactions are currenrly not fully implemented. Although masternodes confirm them there is no logic in place to replace unconfirmed transactions with the confirmed ones in the case of double spending attacks and to reject blocks with conflicting transactions.

http://spreadcointalk.org/index.php?topic=37.msg908#msg908

[NoobKidOnTheBlock]

I could do some full blown Promotion but I have to wait until some of these features are fully implemented. Alot of my crypto followers were messaging me to find out about the masternodes and I had to tell them it's in development in the testing stage. So we have to wait for the new features before we can actually do any real marketing and PR. as of right now we have nothing to back it up just the testnet testing. I can say hey we got all these new features. Then they come checkout the coin and none of these features are implemented yet. So we lose potential spreadcoiners who would rather wait. It's better to do the PR when the features are actually here and out of the testing phase. Those who believe in Mr.Spread and buy in early will be very happy when those features arrive.

Any of the promoting I have been doing for SpreadCoin has always let people know that they are in the testing phase right now but that the testing is going smoothly and I redirect people to this thread to hopefully encourage more people to invest in this coin

[e1ghtSpace]

This is where we're at right now: