[ANN][SEED] SeedCoin | New Road Map

[klopper]

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...

Im guessing he priced the coin based on the 1 million total possible count, since it is 10 million possible now and the coin will be way less rare I would say you paid too much. . .  As far as how profitable mining is this is the first time I am mining and can say I have no idea lol

The dev said he decided to keep it at 10 million because 259% was the advertised rate... but 1 million coins was also advertized.  I feel bad for the dev in a way. I think it was an honest mistake, but I also think he profited from it (maybe, with cheaper coins he may have sold much more).  I like the idea, and am mining it (only at 14MH/s so not gonna get rich here ). But I feel bad for the guys that bought a coin thinking there were only 1 million possible coins, and now know there will be much more. They definitely didnt profit from the mistake.

Should not matter as the coins are generated in the growth period...

The % share will still be the same

[travis72682]

edit: I see what you mean...they still will have the same % of coins... carry on its late

edit: err..early. . good night/morning

either way compared to the hash on the coin they paid too much, but that isnt the devs fault in any way

[lifeforcepools]

I'm a stupid mofo man why

1. i bought into ICO
2. i've mined more than i got from the ICO

  with myself

I'm in the same boat - something just does not feel right - please see my post on the prior page regarding this.

Perhaps the DEVS will fork the coin and reduce the number of blocks to be mined - only seems right....

[bitkokos]

don't know if my calculation is correct but...
will 0.1 seed give me 931 seeds after staking for a week in grow period?

[sonysasankan]

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.

Ya... kinda makes sense... I believe that is because an exchange is not there at the moment. From what I hear, many people who are not familiar with mining want to buy but dont have any venue for it. Doing a bit of napkin calculation for mining.... With an average difficulty of 350, A 150 MH rig will mine 1 seeds in 24 hrs. The cost to rent a 150 MH rig for 24 Hrs is average .1 BTC (approx .00066 BTC/MH/day). This is more or less the ICO price for the first day. But this is only if the difficulty stays stready. If more miners come in, or if an exchange comes, the difficulty will sky rocket to 800 - 1000, making the mining even less cost effective than buying the ICO on the last day. Its all a delicate balance

[Rayban34]

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...

Im guessing he priced the coin based on the 1 million total possible count, since it is 10 million possible now and the coin will be way less rare I would say you paid too much. . .  As far as how profitable mining is this is the first time I am mining and can say I have no idea lol

The dev said he decided to keep it at 10 million because 259% was the advertised rate... but 1 million coins was also advertized.  I feel bad for the dev in a way. I think it was an honest mistake, but I also think he profited from it (maybe, with cheaper coins he may have sold much more).  I like the idea, and am mining it (only at 14MH/s so not gonna get rich here ). But I feel bad for the guys that bought a coin thinking there were only 1 million possible coins, and now know there will be much more. They definitely didnt profit from the mistake.

Should not matter as the coins are generated in the growth period...

The % share will still be the same

This is why I didn't buy in the ICO - when I arrived 1 SEED would have cost me 0.8 bitcoin. I referred to the block stats and realised I could probably mine that for much less. Although if I arrived when they had their ICO priced at 0.1 btc I would have bought then.

It will be interesting to see how the coin develops during the growth period. I am not switching my computer off for a long time now lol.

Very interesting concept; rewarding people for holding onto their coins rather than trading from day 1. Will also be interested to see the price of this coin on the first exchange. It's bloody hard to mine.

[klopper]

don't know if my calculation is correct but...
will 0.1 seed give me 931 seeds after staking for a week in grow period?

yes

[ocminer]

Actually this is a miners coin .. which is good between all those ICO and IPO's in these days.

The Dev's seem to understand the features of the Coin including Seednodes, PoS, Staking etc. so I have quite a good feeling about the coin.
The Launch was also outstanding well organized and went trough without a hiccup.

Nethash is still rather low, I would have expected a lot more, but probably the "big whales" are sleeping and will jump in a soon as they realize whats up with this coin.

Diff will surely rise soon, expect something around 600-700.

[bitkokos]

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.

This is the meaning of mining. Everyone gets a piece of the pie.

[meccoin4me]

di i need to have more then 1 coin to get stake or is 0.1 also good to stake?


EDIT : sorry , think the answer is : it is possible , as i can read above my message , tanx anyway

[ocminer]

di i need to have more then 1 coin to get stake or is 0.1 also good to stake?

I dont see a minimum amount when looking though the source, just a minimum age of 24 hours

[lifeforcepools]

network hash just jumped into the 60 GH/s range,,,

[meccoin4me]

di i need to have more then 1 coin to get stake or is 0.1 also good to stake?

I dont see a minimum amount when looking though the source, just a minimum age of 24 hours

tanx for answer

[lolilo]

When will the staking period with the 269% will begin???

[ocminer]

forgive the 'stupid question' but to take advantage of the 269% interest...I just need to have my wallet unlocked for staking, right?

For coins to stake they must have matured (not moved) at least 1440 blocks, and be an open and unlocked wallet, yes. Keep in mind the 269% does not start until block 10,101 which is gonna be somewhere between 4-6 days from now. The primary reason to stake in the days leading up to that, would be to reduce the total amount of coins mined during PoW. Which, if you're an IPO holder or have an early mining bankroll from a massive farm rental, you may be inclined to do to ensure your piece of the total coin supply is a bigger percentage.

this

[BeerPimp]

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

Typo's happen we are human.  But so do forks especially at coin launches.  So you may think we were picking on you because of the typo but we were not.  It was a very serious question.  One that a pool owner would see the seriousness in.

[lifeforcepools]

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

Typo's happen we are human.  But so do forks especially at coin launches.  So you may think we were picking on you because of the typo but we were not.  It was a very serious question.  One that a pool owner would see the seriousness in.

LOL

[boxxa]

Wait wut? People played .8 BTC per SEED?

Kiss that money good bye. This hits an exchange and will be amazing if it hits .1 BTC. Look at SYNC which has real assets and that's struggling to hold .7 BTC

I think there is going to be some angry people and be curious how markets handle the massive influx of coins with the 269% stake

[BeerPimp]

From what I recall, more than half of the ICO total was sold in the first couple hours, so .1 - .110. For all the care put into nice presentation and an interesting distribution, I can't help but wonder why they thought such a fast increase was a good idea... especially considering how little pre-promotion they did (was there even any?). At the same point I mentioned, in the first few hours, the Twitter had 20 something followers...


Mining is definitely nice. The only real downside miners might be forgetting in the 1440 block mature time. That's 1440 blocks to confirm on the pool, then 1440 more once they hit your wallet before they start staking. You have 1440 blocks of uninterrupted PoW, and then 8660 blocks of PoW/PoS and some blocks will be "stolen". Combine all these factors and a good chunk of the PoW coins won't be able to hit the full force of compound interest, they'll be staking later and won't compound as much. How many days of compounding will the market go for before the balance tips into a selloff of supply? It's a curious case! I think we'll probably still come in somewhere 5-6 mil or maybe even less, as some people will trade it right away, immediately resetting coinage. Others that plan to stake will probably not wait the entire 7 days, at least not with all of the supply - so we probably won't hit the biggest compounding stages very hard. Should be interesting, hugs to anyone who bought after the earliest part of the IPO - you better stake your ass off to cut these miners out! Heh  

IMO get on an exchange ASAP to make it even more interesting - the 1440 maturity is a key factor here. The lure of the exchange being in play would bring much more entertainment into this process.


Is there a Block Explorer coming?

It says in the OP that coins need a minimum of 120 blocks to confirm on pools for pow.  Also all the pools are confirming after 120 blocks.

[cryptzo]

From what I recall, more than half of the ICO total was sold in the first couple hours, so .1 - .110. For all the care put into nice presentation and an interesting distribution, I can't help but wonder why they thought such a fast increase was a good idea... especially considering how little pre-promotion they did (was there even any?). At the same point I mentioned, in the first few hours, the Twitter had 20 something followers...


Mining is definitely nice. The only real downside miners might be forgetting in the 1440 block mature time. That's 1440 blocks to confirm on the pool, then 1440 more once they hit your wallet before they start staking. You have 1440 blocks of uninterrupted PoW, and then 8660 blocks of PoW/PoS and some blocks will be "stolen". Combine all these factors and a good chunk of the PoW coins won't be able to hit the full force of compound interest, they'll be staking later and won't compound as much. How many days of compounding will the market go for before the balance tips into a selloff of supply? It's a curious case! I think we'll probably still come in somewhere 5-6 mil or maybe even less, as some people will trade it right away, immediately resetting coinage. Others that plan to stake will probably not wait the entire 7 days, at least not with all of the supply - so we probably won't hit the biggest compounding stages very hard. Should be interesting, hugs to anyone who bought after the earliest part of the IPO - you better stake your ass off to cut these miners out! Heh  

IMO get on an exchange ASAP to make it even more interesting - the 1440 maturity is a key factor here. The lure of the exchange being in play would bring much more entertainment into this process.


Is there a Block Explorer coming?

There isn't a 1440 blocks mature time. It's 120 blocks to mature. 1440 blocks is how many blocks there will be before it is possible to stake. In point of fact it's actually slightly more blocks than that before anyone will be able to stake, as nobody has coins unmoved from block 1.

Skimming through the thread now to answer questions. Big thanks to OCMiner for answering some of the more technical questions while I was away, as well as everyone else that helped support the thread with useful thought and information.

Edit: Yeah we're working on getting an explorer going asap. We're well aware that, given the design of the coin, both an explorer and exchanges are critical to the success of the coin.