[ANN] Metal Coin - X11 POW with MTT - Launch on 1st Oct 2014 at 1pm UTC+0

[godda04]

Can someone explain this to me. What is the advantage of using a huge mining farm if the block reward is the same and theres a specific block target time. Im assuming that the block time is the time between finding blocks. In the case of metal coin, the block reward is 24 and the block time is 2 minutes. Whats the point in using a  massive rig. Surely the only advantage would be getting a larger portion of those 24 coins in each block? thanks

If all goes according to plan, then yes, all you get by renting a huge farm is a larger portion of those 24 coins in each block.

However, if you're the first one to do so (instamining the earliest blocks), your percentage payout on those earlier coins will be greater than if you rent the same large amount of hashrate later once more miners jump on the coin. Like, let's say Metalcoin has 6 gh/s right out of the gate, and you rent 3 gh/s-- this will give you 33% of all Metalcoin mined for the duration of your rental. But if you wait until the hashrate grows to 27gh/s and then rent 3 gh/s, at that point you're spending the same on your rental but only getting 10% of all Metalcoin.

There are other advantages of renting large hashrate early. Sometimes a new coin's block release timing will have an error, and a large amount of hashrate will find blocks more quickly than every 2 minutes as per target, kind of like overdriving the release time. This is an outside chance situation and usually is detrimental to the overall perception of the coin, since it relies on an obvious error in the code which shuts out the support of other crucial early adopter miners, but I've seen it work quite a few times.

Renting large hashrate is most effective on coin releases with short PoW and high block rewards as a percentage of total supply. The most recent example of this is Utilitycoin. It's less effective on PoW-only coins but this adds more overall stability through better distribution.

So, that mean that even if the net gh/s grows from 6 to 27 while im still mining with the same 3gh/s i still get 33%? even if the the net hash grows? Surely the percentage would decrease substantially with more people mining?

[MetalDev]

Preparing Genesis Block and Uploading soon. Stay Tune.

[sunerok]

we're ready... 

[MetalDev]

ocminer has kindly agree to help compile windows wallet. Thank.

[xPooky]

ocminer has kindly agree to help compile windows wallet. Thank.

will launch be on time?

[esotericizm]

ocminer has kindly agree to help compile windows wallet. Thank.

stayed up late to do just that

Good luck with launch!

[ocminer]

ocminer has kindly agree to help compile windows wallet. Thank.

will launch be on time?

no, i got the source too late, but i'll try to compile it really quick

[xPooky]

ocminer has kindly agree to help compile windows wallet. Thank.

will launch be on time?

no, i got the source too late, but i'll try to compile it really quick

What would be the estimated delay?

[ocminer]

ocminer has kindly agree to help compile windows wallet. Thank.

will launch be on time?

no, i got the source too late, but i'll try to compile it really quick

What would be the estimated delay?

to compile the win wallet ?

i can't tell right now.. i have to see if i have all dependencies etc.. i think something about 20-30 minutes..

but you can start mining right away .. you don't need the win wallet for that

[xPooky]

ocminer has kindly agree to help compile windows wallet. Thank.

will launch be on time?

no, i got the source too late, but i'll try to compile it really quick

What would be the estimated delay?

to compile the win wallet ?

i can't tell right now.. i have to see if i have all dependencies etc.. i think something about 20-30 minutes..

but you can start mining right away .. you don't need the win wallet for that

Great, i thought launch will be delayed

[MetalDev]

5 minutes more. Our Node is compiling the linux wallet.

[esotericizm]

ocminer has kindly agree to help compile windows wallet. Thank.

will launch be on time?

no, i got the source too late, but i'll try to compile it really quick

What would be the estimated delay?

to compile the win wallet ?

i can't tell right now.. i have to see if i have all dependencies etc.. i think something about 20-30 minutes..

but you can start mining right away .. you don't need the win wallet for that

Let me know if it turns out you dont. I have a VM dedicated to Windows QT build enviroment.

[chisefu]

Does anyone here know what a flashing chicken looks like?

[esotericizm]

Does anyone here know what a flashing chicken looks like?

pretty flashy I bet

[MetalDev]

Linux Source. https://github.com/MetalDevel/metalcoin

[kibi]

Supernova is up!

[juicejoyce]

Linux Source. https://github.com/MetalDevel/metalcoin

seems many pools joins in.
show us the work, dev.

[ocminer]

Sorry to say but Diff Retargeting is not kicking in... :-(

Every share is a block..


EDIT:

@DEV: Do you still want me to compile the wallet ?

[DeCrypterManiac]

So I rented 3.5GH/s for nothing ?

[ocminer]

Wait a bit.. It is slowly kicking in now..