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Author Topic: [ANN][SEED] SeedCoin | New Road Map  (Read 181787 times)
cryptzo
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October 05, 2014, 07:16:14 AM
 #261

Johnny Apple Seeds?

Why 1000X growth?

It refers to the intended number of coins possible to grow during the growth period. But there was a teensy problem with the math, and it turns out that growth will be much higher than originally anticipated. Sumgye did a pretty good job of informing everyone earlier. Here's his post:

I wanted to give an update for everyone. Testing is finished and has gone well. Launch time currently looks good, but Mac wallets wont be ready by then. Sorry about that.

One thing that we did discover during testing is that our math is a 'little off' for 1000x for the week at 269% interest, and I wanted to let you know. It was calculated based on the rate a coin would have to grow to reach 1000x in 7 days, which is absolutely true. But it was clearly stated in the OP that the interest would be 269% daily, which is a different thing altogether. That will create 269% more coins for you, on top of the ones you already have. So instead of 1 coin staking into 2.69 coins on day one of the growth period, it will PRODUCE 2.69 coins, and leave you with 3.69 coins to stake tomorrow, when the same thing will happen again, hence compound interest.

Anyway, long story short, I've re-done the math, and with 269% interest a single coin mined continuously over a week will produce nearly 10k coins, not 1k coins. Oops! Anyway, we talked about it and decided to leave it as is, since 269% daily interest during the growth period is the advertised spec. I just wanted to let people know, since the maximum number of coins that could be produced, depending on the number of coins mined and how many coins overall get staked, is now roughly 10m, not 1m.

I've updated the graph to show the growth:

https://docs.google.com/spreadsheets/d/1b1_BKfRxuOeAzvhzmldG1P0d0bxZAEQsXXmcBDHedTY/edit#gid=43161177

As for the ICO, coins will go out once they mature after POW begins - which will happen after block 121. Those blocks will go by pretty fast while the difficulty is still ramping up. Testing suggests it will take roughly 10-15 minutes.


And why is because it favors people who hold the coin over traders, and lets the community decide the ultimate number of coins that there will be. It's difficult to estimate the final number of coins, but the maximum possible after the growth period is roughly 10m, though it could be far less than this number.

Edit: I edited the topic to reflect the mining launch. Will update the growth projections over the next day to reflect our testing results.

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October 05, 2014, 09:08:43 AM
 #262

Correct me if I am wrong, but my calculations show that if 1 Seed is staked for the entire growth period it will be 9315 at the end of the period

Day 1 start   1,00
Day 1 end   3,69
Day 2 end   13,62
Day 3 end   50,24
Day 4 end   185,40
Day 5 end   684,12
Day 6  end   2 524,40
Day 7 end   9 315,04


How often + how long do I have to have wallet open in order to stake? Is 5min a couple of times a day enough?

BEECoinfan
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October 05, 2014, 09:34:19 AM
 #263

Anybody know what the final ICO price was per seed?  Was it 0.94 btc per seed?

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October 05, 2014, 09:42:47 AM
 #264

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 850 right now....

this is not looking good...


Take the Guesswork out of choosing which Scrypt coins to mine: http://smarterhash.com
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October 05, 2014, 09:57:41 AM
 #265

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 880 right now....

this is not looking good...



Was block 880 a typo because both the wallet and the pools I looked at said 855?
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October 05, 2014, 09:59:15 AM
 #266

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 880 right now....

this is not looking good...



Was block 880 a typo because both the wallet and the pools I looked at said 855?

We're on Block 856 now

suprnova pools - reliable mining pools - #suprnova on freenet
https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools
lifeforcepools
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October 05, 2014, 10:35:01 AM
 #267

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 880 right now....

this is not looking good...



Was block 880 a typo because both the wallet and the pools I looked at said 855?

We're on Block 856 now

AND YOU POINT IS THAT I HAD A TYPO?

lol

Take the Guesswork out of choosing which Scrypt coins to mine: http://smarterhash.com
BEECoinfan
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October 05, 2014, 10:35:19 AM
 #268

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 880 right now....

this is not looking good...



Was block 880 a typo because both the wallet and the pools I looked at said 855?

We're on Block 856 now

I think that makes his point worse as there is more blocks to come, however to answer I think it depends when you bought in... the first day or the last day.

Also depends if you rented a rig, A) how much you paid per GH and B) if it produced.  One miner I rented on Betarigs was a 300 MH Rig and it was offline and never produced any hash so mining isn't without its complications.  However Hopefully they will refund my money but I lost the opportunity and had my bitcoin tied up.

lifeforcepools
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October 05, 2014, 10:43:58 AM
 #269

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 880 right now....

this is not looking good...



Was block 880 a typo because both the wallet and the pools I looked at said 855?

We're on Block 856 now

I think that makes his point worse as there is more blocks to come, however to answer I think it depends when you bought in... the first day or the last day.

Also depends if you rented a rig, A) how much you paid per GH and B) if it produced.  One miner I rented on Betarigs was a 300 MH Rig and it was offline and never produced any hash so mining isn't without its complications.  However Hopefully they will refund my money but I lost the opportunity and had my bitcoin tied up.


exactly - sorry about your experience on Betarigs - I have rented from them also in the past and it's hit or miss - especially with the one's that say "they're monitored' then YOU have to tell them their machine is down and not mining. My experience has been that most of the renters there will give you extra hours but that does not make up for lost opportunity when the difficulty was low when mining started. I grabbed two blocks in the first 5 minutes before network hash skyrocketed. IMHO - the value they have set on the coin right now warrants about least 80 to 100 Gh/s to make it much harder to get - but that's the investor in me speaking. My pool miners are thrilled the network hash is as low as it is because people with 4 and 5 Mh/s are still getting a piece of the pie.

ps: I got in very early, but it's still painful to see people accumulating coins with such little hash.

Take the Guesswork out of choosing which Scrypt coins to mine: http://smarterhash.com
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October 05, 2014, 11:10:23 AM
 #270

is the min stake 1 coin? when POS kicks in

if it is then f in damn it

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October 05, 2014, 11:14:00 AM
 #271

those with low hashrate miners using suprnova just have in mind that you can't cashout if you have less than 0.1 seed
I was thinking to mine there but I am not sure if I can make 0.1 SEED

O_o
DeCrypterManiac
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October 05, 2014, 11:15:29 AM
 #272

those with low hashrate miners using suprnova just have in mind that you can't cashout if you have less than 0.1 seed
I was thinking to mine there but I am not sure if I can make 0.1 SEED

Min withdrawal is 0.001, or ?

Edit: Yes it is.
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October 05, 2014, 11:22:16 AM
 #273

those with low hashrate miners using suprnova just have in mind that you can't cashout if you have less than 0.1 seed
I was thinking to mine there but I am not sure if I can make 0.1 SEED

Min withdrawal is 0.001, or ?

Edit: Yes it is.

oh that's for automatic.
I saw manual


Please note: a 0.0001 SEED transaction will apply when processing "On-Demand" manual payments [This 0.0001 manual payment transaction fee is a network fee and goes back into the network not the pool.]

Minimum Cashout: 0.1 SEED

O_o
DeCrypterManiac
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October 05, 2014, 11:26:22 AM
 #274

I use automatic everywhere:

Minimum Cashout: 0.001 SEED
lifeforcepools
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October 05, 2014, 11:39:25 AM
 #275

those with low hashrate miners using suprnova just have in mind that you can't cashout if you have less than 0.1 seed
I was thinking to mine there but I am not sure if I can make 0.1 SEED

you can always use manual payout method....

Take the Guesswork out of choosing which Scrypt coins to mine: http://smarterhash.com
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October 05, 2014, 11:47:44 AM
 #276


exactly - sorry about your experience on Betarigs - I have rented from them also in the past and it's hit or miss - especially with the one's that say "they're monitored' then YOU have to tell them their machine is down and not mining. My experience has been that most of the renters there will give you extra hours but that does not make up for lost opportunity when the difficulty was low when mining started. I grabbed two blocks in the first 5 minutes before network hash skyrocketed. IMHO - the value they have set on the coin right now warrants about least 80 to 100 Gh/s to make it much harder to get - but that's the investor in me speaking. My pool miners are thrilled the network hash is as low as it is because people with 4 and 5 Mh/s are still getting a piece of the pie.

ps: I got in very early, but it's still painful to see people accumulating coins with such little hash.

Ah no worries mate, I have rented heaps of times with Beta Rigs it is normally pretty good, and so far if there has been a major problem they have generally taken care of it, it is just waste time though.  When I first saw seed it was in the first day but I thought it may be cheaper to mine then to buy so I waited.  Not so sure that was the best plan but we shall see if I come out further ahead or not.  If you got in when the ICO first opened I think it would have been pretty well set with out the hassel of rental mining.  But either way hopefully SEED will become successful!

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October 05, 2014, 12:05:07 PM
 #277

I'm a stupid mofo man why

1. i bought into ICO
2. i've mined more than i got from the ICO
Embarrassed
 Angry with myself

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October 05, 2014, 12:14:23 PM
 #278

@ocminer

Suprnova withraw fee: 0.0001

I think it is too much for this coin.

Can you reconsider to drop a fee a little bit ?  Wink
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October 05, 2014, 12:16:59 PM
 #279

@ocminer

Suprnova withraw fee: 0.0001

I think it is too much for this coin.

Can you reconsider to drop a fee a little bit ?  Wink

Come on over to minerpools. Its .00001000 there Wink  (1% on mining)

"

Please note: a 0.00001000 SEED transaction will apply when processing "On-Demand" manual payments

Minimum Cashout: 0.0001 SEED
"

Free coins for doing nothing https://qoinpro.com/d45ca89a36b0bfdd29925ca28760ef53
gimme free btc Tongue  :  14DsWStNquSGgJtekxd3CXZvnTsyLmGxeT
http://ribbit.me/?ref=mYUbs6r4OB  free coins or something
pimpcash:  PE4QF7MrgY6gvBuAiwFq2ckHyb7m2utTcF
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October 05, 2014, 12:26:14 PM
 #280

It is the same on minerpools like on suprnova:

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