MULTIWALLET/Trusted-Cryptos group/Multiple Coin Support/MultiShift/Fiat Trading

[Griffith]

Don't you think .05 BTC as payout threshold is a little bit too high ? Its seems too me that one need a serious ammount of hashpower to reach that in accepatable time. But I quit mining some months ago so I'm not exactly familiar with the current situation in mining. Just an impression.

it can be changed in 4 keystrokes. it is just set there until i actually figure out what im going to do / how trading fees will affect profits of miners

[1715061886]

1715061886

[1715061886]

1715061886

[lager]

Don't you think .05 BTC as payout threshold is a little bit too high ? Its seems too me that one need a serious ammount of hashpower to reach that in accepatable time. But I quit mining some months ago so I'm not exactly familiar with the current situation in mining. Just an impression.

Actually 0.05 is not to high at all, since is in early beta stage, this amount can be reached with 10 users per ~15mh/s (more/less avarage rig power on home user) on x11 algo. This combined power is also
kind a minimum for testing the overall functionality of multipool.
Beside multipool will do the payments regularly on settupd keystone or on every 24 hours, again the most of the multipools doing this as also in later stage are doing payment on 24h based mining.
So everything is fine, and don't forget that this multipool were written from 0, hard/hand coded by our dev griffith, so again no cope/paste from others.
Complete home product from our kitchen
So far excellent job.

Front end will be updated later today too.

[lager]

so, had first test for the pool. it was... interesting. failed but. thats ok. gunna fix it and try again. will keep u posted

Update: after it was initially tested. i redid a large section of the database, changed the way the shares solved were stored, fixed connection issues and now we are up and running and as far as i can tell there is a normal amount of reject rates atm. so if you want to test just follow the instructions found here: http://www.primetimepool.net/Coins/Multipool/Getting%20Started.html

i would just like to restate that during this time of testing, payment for shares solved is not guaranteed as i haven't fully tested the system yet. simple as that.

My two rigs were on multipool testing all night and can say that reject rate is awesome. All GPU's had reject rate from 0.00 - 0.1%, which is great!
From experience I know that some of multipools needed weeks even longer to get rejects in normal rate, this multipool reach this with first testing. Great job!
After polishing some code I expect that reject rate will be around pure 0, which is fantastic achievement right
Keep up the good work!

beside, my rig still riding on multipool, everything works as it should.

[Griffith]

so, had first test for the pool. it was... interesting. failed but. thats ok. gunna fix it and try again. will keep u posted

Update: after it was initially tested. i redid a large section of the database, changed the way the shares solved were stored, fixed connection issues and now we are up and running and as far as i can tell there is a normal amount of reject rates atm. so if you want to test just follow the instructions found here: http://www.primetimepool.net/Coins/Multipool/Getting%20Started.html

i would just like to restate that during this time of testing, payment for shares solved is not guaranteed as i haven't fully tested the system yet. simple as that.

My two rigs were on multipool testing all night and can say that reject rate is awesome. All GPU's had reject rate from 0.00 - 0.1%, which is great!
From experience I know that some of multipools needed weeks even longer to get rejects in normal rate, this multipool reach this with first testing. Great job!
After polishing some code I expect that reject rate will be around pure 0, which is fantastic achievement right
Keep up the good work!

beside, my rig still riding on multipool, everything works as it should.

id like to clarify. i meant 0.05 BTC per person in order to cash our. which is high. so i will lower it upon beta exit.
also a reject rate of 0% is unrealistic. .1% is good with me though, thanks for telling me the rate that is good to know.
everything works as it should from the users end yes, but back end i see some potential problems. i will be working to solve those as soon as possible.

EDIT: i wont be changing the 0.05 BTC per person. it will do that or a 24 hours of mining. whichever comes first

[Crestington]

When providing the next update there are a couple of things that should be looked at and would be good to discuss them a bit beforehand.

When using the IRC within the wallet, if you type in anything in the "console/pm" field other than /PRIVMSG the QT will crash. This is present in the Windows and Linux wallet and talking to MDTspain, it does not seem present on the Mac.

Also, the minimum fee is much too low at 0.00001 Coins per transaction and presents a bloat issue where it is virtually free to send alot of meaningless transactions. Peercoin has a very similar coin float and the fee there is 0.1 coins (or approximately 10 cents per transaction), the larger fee has helped keep the size of the Peercoin Blockchain to approximately 380 mb after 3 years.

Taking into consideration the float value and size, I think the minimum fee should be in the neighborhood of 0.1 - 1 Coins, higher being better until the point where the distribution and value is high enough that it needs to be lowered.

A higher fee is better because it also provides more Coins through Stake. In every Block all transactions are gathered up and the sum of all fees within that Block go to whoever Stakes that Block. The amount of Blocks a person would Stake is proportionate to the amount of Coins Staking on the network and the amount of Coins in the transactions.

In order to further reduce the amount of transactions and size, a Stake split threshold can also be introduced. This is present in Blackcoin and several other POS only coins and is the point at which when you Stake, it will not split your transaction into 2 parts. For Blackcoin, the threshold is 1000 coins so if you have a Block of 1000 coins or less that Stake, you do not have to spend the amount of the TX fee in order to re-combine those transactions into a larger Block.

A couple other things that can be done as well going forward is look to get listed on exchanges that offer interest bearing accounts for POS coins. There are several exchanges that have begun to offer this option and would be good to be on the lookout for exchanges that are able to offer POS interest while keeping coins on the exchange.

Also, Whitecoin has been working on their own Operating System. Basically it is the Wallet compiled within the Ubuntu operating system and something like this is good because a POS only coin should have as many people Staking as possible so instead of just trying to secure the wallet, it would be better to secure the entire operating system around the wallet. With a secure Linux operating system within the cloud, you can SSH into your wallet from anywhere and on any system so you don't need to have a wallet for Windows, another for Mac and another for Android because you can access it through something like VNCviewer.

[lager]

When providing the next update there are a couple of things that should be looked at and would be good to discuss them a bit beforehand.

When using the IRC within the wallet, if you type in anything in the "console/pm" field other than /PRIVMSG the QT will crash. This is present in the Windows and Linux wallet and talking to MDTspain, it does not seem present on the Mac.

Also, the minimum fee is much too low at 0.00001 Coins per transaction and presents a bloat issue where it is virtually free to send alot of meaningless transactions. Peercoin has a very similar coin float and the fee there is 0.1 coins (or approximately 10 cents per transaction), the larger fee has helped keep the size of the Peercoin Blockchain to approximately 380 mb after 3 years.

Taking into consideration the float value and size, I think the minimum fee should be in the neighborhood of 0.1 - 1 Coins, higher being better until the point where the distribution and value is high enough that it needs to be lowered.

A higher fee is better because it also provides more Coins through Stake. In every Block all transactions are gathered up and the sum of all fees within that Block go to whoever Stakes that Block. The amount of Blocks a person would Stake is proportionate to the amount of Coins Staking on the network and the amount of Coins in the transactions.

In order to further reduce the amount of transactions and size, a Stake split threshold can also be introduced. This is present in Blackcoin and several other POS only coins and is the point at which when you Stake, it will not split your transaction into 2 parts. For Blackcoin, the threshold is 1000 coins so if you have a Block of 1000 coins or less that Stake, you do not have to spend the amount of the TX fee in order to re-combine those transactions into a larger Block.

A couple other things that can be done as well going forward is look to get listed on exchanges that offer interest bearing accounts for POS coins. There are several exchanges that have begun to offer this option and would be good to be on the lookout for exchanges that are able to offer POS interest while keeping coins on the exchange.

Also, Whitecoin has been working on their own Operating System. Basically it is the Wallet compiled within the Ubuntu operating system and something like this is good because a POS only coin should have as many people Staking as possible so instead of just trying to secure the wallet, it would be better to secure the entire operating system around the wallet. With a secure Linux operating system within the cloud, you can SSH into your wallet from anywhere and on any system so you don't need to have a wallet for Windows, another for Mac and another for Android because you can access it through something like VNCviewer.

I like the idea about stake split threshold as also for exchanges that offer interest bearing. Let's discuss more on #mutliwallet channel or here with our devs to see what is possible to realize. Thanks for your contribution, all ideas that bring additional value to MWC are warmly welcome

[Crestington]

When providing the next update there are a couple of things that should be looked at and would be good to discuss them a bit beforehand.

When using the IRC within the wallet, if you type in anything in the "console/pm" field other than /PRIVMSG the QT will crash. This is present in the Windows and Linux wallet and talking to MDTspain, it does not seem present on the Mac.

Also, the minimum fee is much too low at 0.00001 Coins per transaction and presents a bloat issue where it is virtually free to send alot of meaningless transactions. Peercoin has a very similar coin float and the fee there is 0.1 coins (or approximately 10 cents per transaction), the larger fee has helped keep the size of the Peercoin Blockchain to approximately 380 mb after 3 years.

Taking into consideration the float value and size, I think the minimum fee should be in the neighborhood of 0.1 - 1 Coins, higher being better until the point where the distribution and value is high enough that it needs to be lowered.

A higher fee is better because it also provides more Coins through Stake. In every Block all transactions are gathered up and the sum of all fees within that Block go to whoever Stakes that Block. The amount of Blocks a person would Stake is proportionate to the amount of Coins Staking on the network and the amount of Coins in the transactions.

In order to further reduce the amount of transactions and size, a Stake split threshold can also be introduced. This is present in Blackcoin and several other POS only coins and is the point at which when you Stake, it will not split your transaction into 2 parts. For Blackcoin, the threshold is 1000 coins so if you have a Block of 1000 coins or less that Stake, you do not have to spend the amount of the TX fee in order to re-combine those transactions into a larger Block.

A couple other things that can be done as well going forward is look to get listed on exchanges that offer interest bearing accounts for POS coins. There are several exchanges that have begun to offer this option and would be good to be on the lookout for exchanges that are able to offer POS interest while keeping coins on the exchange.

Also, Whitecoin has been working on their own Operating System. Basically it is the Wallet compiled within the Ubuntu operating system and something like this is good because a POS only coin should have as many people Staking as possible so instead of just trying to secure the wallet, it would be better to secure the entire operating system around the wallet. With a secure Linux operating system within the cloud, you can SSH into your wallet from anywhere and on any system so you don't need to have a wallet for Windows, another for Mac and another for Android because you can access it through something like VNCviewer.

I like the idea about stake split threshold as also for exchanges that offer interest bearing. Let's discuss more on #mutliwallet channel or here with our devs to see what is possible to realize. Thanks for your contribution, all ideas that bring additional value to MWC are warmly welcome

I have been looking into fees and interactions for some time because there should be the incentive to Stake (higher security, faster sync times) but a high amount of inflation becomes negative over time because you cannot keep a high rate of inflation forever. High inflation is also more of a negative for investors because you cannot accurately predict what the money supply will be over time so then the only option then is the approach of fee sharing.

Fractalcoin even took fees in a different direction by trying to do 0.5% fee of the transaction input but encountered the issue that stops coins from implementing it, all the fees gathered go directly into the next Block. POS and especially electrum wallets only compute from the last Block but for something like percentage fees to work, you would need all fees to spread out over a large number of blocks so that it creates a base amount to Stake for on top of the inflation per year.

In fact, if fees could be spread out over a large number of Blocks (1000 or even 10k Blocks), if you were to send an extremely high fee it would be akin to a share giveback and spread more evenly between active Stakers within the period.

[mdtspain]

Good Morning Everybody,

As you can see we have upgraded the buy support to 300 Sat today. Later this day the buy support will be made stronger (more BTC)

We have received great news, but our partner in this don't want us to tell about it for now. It is also the reason why we are putting more buy support, we want to buy more of our own coins.

In the past week I have been buying ~10% of all the coins in roulation on this moment, and will continue to buy more.
These coins are in my wallet, staking. The will not appear on the exchanges untill we reach 1USD

[Crestington]

Good Morning Everybody,

As you can see we have upgraded the buy support to 300 Sat today. Later this day the buy support will be made stronger (more BTC)

We have received great news, but our partner in this don't want us to tell about it for now (If he wants to announce it here, feel free to do it). It is also the reason why we are putting more buy support, we want to buy more of our own coins.

In the past week I have been buying ~10% of all the coins in roulation on this moment, and will continue to buy more.
These coins are in my wallet, staking. The will not appear on the exchanges untill we reach 1USD

I have contact with the owner of CCEDK and we can apply to get listed there, the cost is 4 BTC and would be one of the more important exchanges to be listed on. Before we go about getting listed there we should tackle the little things I mentioned, plus do a whole revamp of the look of the wallet as in new logo, new splash, new icons and some color to the wallet.

I've sent an email to Bitlinares, a good designer I knew a little while back but he's been inactive for some time so I don't know if he'll respond, he's really good though.

[mdtspain]

Good Morning Everybody,

As you can see we have upgraded the buy support to 300 Sat today. Later this day the buy support will be made stronger (more BTC)

We have received great news, but our partner in this don't want us to tell about it for now (If he wants to announce it here, feel free to do it). It is also the reason why we are putting more buy support, we want to buy more of our own coins.

In the past week I have been buying ~10% of all the coins in roulation on this moment, and will continue to buy more.
These coins are in my wallet, staking. The will not appear on the exchanges untill we reach 1USD

I have contact with the owner of CCEDK and we can apply to get listed there, the cost is 4 BTC and would be one of the more important exchanges to be listed on. Before we go about getting listed there we should tackle the little things I mentioned, plus do a whole revamp of the look of the wallet as in new logo, new splash, new icons and some color to the wallet.

I've sent an email to Bitlinares, a good designer I knew a little while back but he's been inactive for some time so I don't know if he'll respond, he's really good though.

I didn't consult this with any one of the MWC crew, but I think I can talk for all of them, that we are not going to spent 4 BTC to get listed on any exchange.

[Gambiman]

Good Morning Everybody,

As you can see we have upgraded the buy support to 300 Sat today. Later this day the buy support will be made stronger (more BTC)

We have received great news, but our partner in this don't want us to tell about it for now (If he wants to announce it here, feel free to do it). It is also the reason why we are putting more buy support, we want to buy more of our own coins.

In the past week I have been buying ~10% of all the coins in roulation on this moment, and will continue to buy more.
These coins are in my wallet, staking. The will not appear on the exchanges untill we reach 1USD

I have contact with the owner of CCEDK and we can apply to get listed there, the cost is 4 BTC and would be one of the more important exchanges to be listed on. Before we go about getting listed there we should tackle the little things I mentioned, plus do a whole revamp of the look of the wallet as in new logo, new splash, new icons and some color to the wallet.

I've sent an email to Bitlinares, a good designer I knew a little while back but he's been inactive for some time so I don't know if he'll respond, he's really good though.

4 BTC seems a bit expensive, and no harm intended, but I never even heard about CCEDK... What's the volume on this one?

[Griffith]

if ive never herd of the exchange, probably isnt worth it. and 4 btc? fuck no

[lar0che]

if ive never herd of the exchange, probably isnt worth it. and 4 btc? fuck no

LOL look at the volume on that site?  There is NONE.  If you were to get onto the following it would be worth it:

okcoin
btcn
bitfinex
btce

Those are the larger players.

Either way hold your coin and put it towards better marketing, development, and or security.

[radus]

...4 btc? fuck no

This.

[doc12]

Hmm what is so spacial about that exchange Crestington, that it would be worth 4 BTC to get there ?  

[alexius89]

Multiwallet activity report updated:

https://docs.google.com/document/d/19lJagq3vz-L4TKuCLbZvH1B9U8dAV_RpjBwGfEme4Sw

• current Multipool testing works as it should
  
• very low rejection rate
• we were in contact with a 3rd party developer
  
• huge buy support of 5.7 BTC at 300 satoshi
  
  • We have received great news, but our partner in this don't want us to tell about it for now
    

[alexius89]

Guys, have you seen the massive buy support on Bittrex?





https://bittrex.com/Market/Index?MarketName=BTC-MWC

Some investor seems to be confident as we are regarding the future of MWC.

[doc12]

Finally the train is leaving the cheap station      

I think people realize that the MWC-Team is working hard on the coin and also transperency is very good. The google doc with your daily updates was a very good idea.

[Lovethecoins]

looking good... I could see a blackcoin vericoin jump coming here

[Crestington]

Good Morning Everybody,

As you can see we have upgraded the buy support to 300 Sat today. Later this day the buy support will be made stronger (more BTC)

We have received great news, but our partner in this don't want us to tell about it for now (If he wants to announce it here, feel free to do it). It is also the reason why we are putting more buy support, we want to buy more of our own coins.

In the past week I have been buying ~10% of all the coins in roulation on this moment, and will continue to buy more.
These coins are in my wallet, staking. The will not appear on the exchanges untill we reach 1USD

I have contact with the owner of CCEDK and we can apply to get listed there, the cost is 4 BTC and would be one of the more important exchanges to be listed on. Before we go about getting listed there we should tackle the little things I mentioned, plus do a whole revamp of the look of the wallet as in new logo, new splash, new icons and some color to the wallet.

I've sent an email to Bitlinares, a good designer I knew a little while back but he's been inactive for some time so I don't know if he'll respond, he's really good though.

4 BTC seems a bit expensive, and no harm intended, but I never even heard about CCEDK... What's the volume on this one?

No offense taken,

CCEDK was the first exchange to list Nubits which is important in itself because a MWC/NBT pairing would be the same as a USD pairing. The exchange is fairly young (4 months) but I've talked to the exchange owner on and off over the last couple weeks and I think it would be beneficial because he has a long-term view on adding coins and working with the community rather than just based on volume.

My view on exchanges is that we should not look to get listed on 20 exchanges but 5-6 top notch exchanges based on security, potential and customer service. CCEDK is one possibility but also Mintpal, Poloniex, Cryptsy, BTER are among the top exchanges.