[XPM] Ever heard of Prime Coin ?

[gatra]

I think the reason for it's decline was the lack of open source pool software for a long time.

Riecoin not only has open source pool software, but it also solves XPM's problem that pooled mining is not as efficient as solo mining.

[nsimmons]

I mined xpm when claymores miner first came out, but it requires a pretty beefy cpu otherwise the gpus wouldnt load. I upgrades my semprons to 6 core fx's and mined their cost back, about then xpm difficulty rose too much so i dumped the fx's and went back to semprons.

My question is why is network security considered a waste of hash power? This is like saying oxygen is wasted because we primarily use it for breathing.

[gatra]

My question is why is network security considered a waste of hash power? This is like saying oxygen is wasted because we primarily use it for breathing.

Because power can be used for something else while still having network security.

[nsimmons]

My question is why is network security considered a waste of hash power? This is like saying oxygen is wasted because we primarily use it for breathing.

Because power can be used for something else while still having network security.

Well this can be said about anything, security guards at a bank could have a desk and process loan applications...
Is it necessary and does it detract from the primary function? Market says its not important at the moment.

I hear this all the time, what a waste POW is. Its not a waste when compared to physical security requirements. For the price of one rent-a-cops salary I could run 30 miners.

[gatra]

My question is why is network security considered a waste of hash power? This is like saying oxygen is wasted because we primarily use it for breathing.

Because power can be used for something else while still having network security.

Well this can be said about anything, security guards at a bank could have a desk and process loan applications...
Is it necessary and does it detract from the primary function? Market says its not important at the moment.

I hear this all the time, what a waste POW is. Its not a waste when compared to physical security requirements. For the price of one rent-a-cops salary I could run 30 miners.

Security guards processing loan applications would suck at both jobs.
sha256 PoW is a waste when compared to what other types of PoW could achieve while still having great security.

[Jimmy_Zed]

XPM is a unique coin, anyway you slice it - whether it will be profitable that is questionable, I mean the purpose of the coin is not to make someone rich but to solve complex mathematical problems. Long gone are the times when coins were created out of idealism and philosophy - it's only about profit now. And this puts BTC and alts on a par with other possessions such as money, land, gold etc.

[urubu]

confirmation doesn't take 3 days, though block maturity does when you mine a block.

[nutildah]

I hear this all the time, what a waste POW is. Its not a waste when compared to physical security requirements. For the price of one rent-a-cops salary I could run 30 miners.

No, it is a waste. Bitcoin mining is the single biggest waste of electricity in the world.

[Stinky_Pete]

Primecoin was the first coin I mined, and from day one. I still have some. I wish I'd stayed with it instead of being distracted by all the alts.

There was talk, back in the day, of using Parallella boards to mine Primecoin. I have a new, boxed, Parallella 'cluster-in-a-box' (4 boards plus other hardware http://shop.adapteva.com/) which I will be putting up for auction this weekend.

Couple of points: - XPM doesn't attempt to find primes, but Cunningham chains of primes. Protein folding is at Stanford, not Harvard

[Walter Rothbard]

I hear this all the time, what a waste POW is. Its not a waste when compared to physical security requirements. For the price of one rent-a-cops salary I could run 30 miners.

No, it is a waste. Bitcoin mining is the single biggest waste of electricity in the world.

You can't really decide that unless it is your electricity being used.

[TinEye]

The decline is due to botnets farming it and dumping it for free. There is no way this is going to be ever saved unless they find an efficient GPU miner to fight the botnets.

[toknormal]

XPM was my entry coin. The more I learned about it the more I liked it and realised it was a major 'cut above the pack'.

When the price tanked, I still held onto a few hundred that I had (which was a lot for me at the time) just because I rated it so far above anything else.

It's Peercoin's younger brother (known to me as 'Power PC' from its acronym) which is one of the 'greats' of all alts - maybe even more so than Bitcoin. For ages I thought that PPC would definitely steal Bitcoin's crown due to Sunny King's vision for a highly articulated crypto-economy where Peercoin's high transaction fees propelled into the role of  trunk transmission for very large financial transactions.

XPM is still at 27 on marketcap so it's by no means dead. PPC is at 7 with DOGE and LTC the only mined coins ahead of it. That is a phenomenal achievement for an alt coin its age to have retained such a high ranking.

The rule is - wherever PPC goes, XPM goes. They are joined at the hip, so with PPC at 7 and XPM at 27, means XPM is a fantastic buy.

Get stuck in because it ain't goin nowhere folks.

P.S. The most amazing thing of all is where Bitcoin is now after nearly 2 years of competition from every type of "advanced" alt coin under the sun:

***************** 35 times the value of its nearest competitor. ***********************

After hundreds of launches comprising every type of improvement over Bitcoin - none of them even put a dent in it.

[Walter Rothbard]

(known to me as 'Power PC' from its acronym)

Ha, I did that too!

[nsimmons]

I hear this all the time, what a waste POW is. Its not a waste when compared to physical security requirements. For the price of one rent-a-cops salary I could run 30 miners.

No, it is a waste. Bitcoin mining is the single biggest waste of electricity in the world.

But its not wasted, what is so difficult to understand, it powers the network. This is not using power for the sake of using power.

Idling my car because I'm too lazy to turn the key off is a waste.

Do we get something for all this electricity use? Yes we get bitcoin. If there was zero benefit then it is a waste.

I think what you are really saying is "buy my POS coin I'm heavily invested in".

[Spoetnik]

I hear this all the time, what a waste POW is. Its not a waste when compared to physical security requirements. For the price of one rent-a-cops salary I could run 30 miners.

No, it is a waste. Bitcoin mining is the single biggest waste of electricity in the world.

@nutildah, Agreed !
i always think what if that BTC hashing power was doing *useful work for us !

We desperately need computers to work for us all over the world in all areas to advance our human civilization.
and the mixing in an incentive to do it WILL catapult humanity's intelligence level by leaps sand bounds !

We're not going to get rid of the "i wanna be rich" bullshit so this XPM coin is one of the first to incentivize the concept i think.
i don't think people out there grasp how big the concept is.. we could positively transform humanity forever.
Change from idiots throwing spearheads on a stick to floating in outer space..

or solving a lot of diseases or solving critical math problems like how to make a warp drive or something to go the nearest star.
the barrier in everything in all of humanity is getting us to work together for free !

this is why we could be wiped out any time by a big comet.. we all know it, but no one is going to lift a finger !
so the best we have is govt sponsored projects like NASA/JPL or University sponsored projects etc that reply on limited incomes.

Imagine everyone on the globe switching to a new digital currency that rewards guys for coughing up hash power for science projects !
We seen what happened when it was done simply for no purpose "security" & transactions etc aka: bitcoin hashing
That is wasted hashing !
most of it could be used to find a cure for a disease or something ..the possibilities are staggering if you think about it !
pouring the entire worlds computer resources hashing power onto one mathematical project could yield some "holy fuck" accomplishments  
We could maybe use that power to make faster PC's and then use all those to science hash to make faster PC's and so on..
Or how about using a glass of water to power New York city for a year with electricity ?
We're working on this right now and it's called Nuclear Fusion (same thing our star is doing) (opposite of Nuclear fision; AKA the Atom Bomb which does not happen in nature)
One is clean and produces no side effect contaminating us and the other pollutes our planet with radioactive material.
We need computers to make this work and become more and more efficient !

And then we have the Helium-3 reactor problem looming on us and a global race of teams of scientists who need research PC's to setup reactors !
This could likely be the future of power and we need to make reactors to convert Helium 3 (found on the Moon) for power and so far the USA team
has proven the concept works but they are a loooooong way off getting it so it's energy profitable.. it's also suspect others like China may be way further ahead too.
right now you need too much power to run the reactor and get back like 0.1% power the USA team said on TV.
and the same problem is plaguing us with Nuclear Fusion.. the magnetic rings needed to hold the plasma in a circle "off the walls" is costly power wise
and we could sure use a better system.. the plant they are working on right now costs billions coughed up by numerous countries.

like a lot of stuff revolves around complex calculations that need to flesh out mathematical outcomes on infinite branches like tree of possible outcomes.
and this is a massive barrier in every aspect of about every damn problem you can think of !

think of it as trying to guess a password.. you would have to go through every possible combo.
THAT is the concept that holds all of humanity back !
When we can cough up crazy sick ass amounts of computational power we could prob simulate the whole human brain, imagine what that could do !
which we think we can't even do 1% right now with PC's.. our brains are way too complex for computers these days.
so what ?
how about Immortality ?
Like we're talking about some pretty intense and brutally incredible implications !
and i really believe the only way it's going to happen is by a digital-currency mod like how XPM worked sort of..
Tying in the concept of incentivizing computer hash power is the solution !
No longer would people say who cares if a comet is creaming towards us .. i want a Lambo and a gold chain and hookers and crack LOL

I also think we are so close to hitting this tipping point it's scary !
We could have a new coin come out and take over so fast it's disturbing..
Extreme advancements in a super short period of time could have us in hover cars in 10 or 20 years instead 60 or something !
It could get crazy over night !

We need to get on it.. we have work to do !
Like a lot of things holding us back are assembly line manufacturing issues such as with Lithium Ion batteries
and how they have new tech that makes them work way more efficient but the barrier is the assembly process costs too much
so the concept sits in a test lab as proof of concept rather than implemented across the globe.
And last i heard I think it was Samsung who had a break recently on that exact problem and over night we could see fancy new batteries in phones / cars etc..

What i envision is a new coin / digital currency that uses it's hashing power to do scientific work but for a modular design
as in not just calculating Primes like XPM but for individual projects.. like we could have grids for regions of the Earth
and we could have a built in voting system for projects in the wallet so we could vote for the SETI project to find Aliens for the North America Compute Grid
and then it woudl be allotted a specified amount of time to do science work then a new project could be voted on etc..
all the while motivating everyone to get involved because of coin rewards used across the globe as the new digital currency of planet earth !
This doable and i think it will happen and we're a step away.. could be unleashed right this minute !

In less than 100 years you will have USB drives for YOU !
You will plug in a cord and click back up and later upload your entire brains life experiences into a new body i think.
People are already working on this such as well known Russian Billionaire.. this shit is no joke !
Problem is the tech is going to the rich and privileged and with what i said the masses can benefit

Roll pennies and cash in pop bottles or let's transcend this rock and populate a dozen other planets ?
Money is a temporary thing until we get over ourselves and our childish petty greed.
Why fight over the limited resources on Earth when we could expand our resources by going to other planets ?
Let's think big guys

[toknormal]

The cost of the hash power applied to the Bitcoin network is only about $80 to $150 million per year. It's peanuts. Money and hashpower well spent i.y.a.m..

In any pursuit - business or technological - you can only have one priority. Either it's securing the network or doing "science experiments".

Bitcoin's hashpower is pointed where it belongs - securing the network - and Primecoin's is where it belongs. Markets value each accordingly.

Mixing those priorities would create ambiguity where now we have clarity - i.e. a disaster.

[Spoetnik]

The cost of the hash power applied to the Bitcoin network is only about $80 to $150 million per year. It's peanuts. Money and hashpower well spent i.y.a.m..

In any pursuit - business or technological - you can only have one priority. Either it's securing the network or doing "science experiments".

Bitcoin's hashpower is pointed where it belongs - securing the network - and Primecoin's is where it belongs. Markets value each accordingly.

Mixing those priorities would create ambiguity where now we have clarity - i.e. a disaster.

no that is laughably stupid man..

[digitalindustry]

XPM was my entry coin. The more I learned about it the more I liked it and realised it was a major 'cut above the pack'.

When the price tanked, I still held onto a few hundred that I had (which was a lot for me at the time) just because I rated it so far above anything else.

It's Peercoin's younger brother (known to me as 'Power PC' from its acronym) which is one of the 'greats' of all alts - maybe even more so than Bitcoin. For ages I thought that PPC would definitely steal Bitcoin's crown due to Sunny King's vision for a highly articulated crypto-economy where Peercoin's high transaction fees propelled into the role of  trunk transmission for very large financial transactions.

XPM is still at 27 on marketcap so it's by no means dead. PPC is at 7 with DOGE and LTC the only mined coins ahead of it. That is a phenomenal achievement for an alt coin its age to have retained such a high ranking.

The rule is - wherever PPC goes, XPM goes. They are joined at the hip, so with PPC at 7 and XPM at 27, means XPM is a fantastic buy.

Get stuck in because it ain't goin nowhere folks.

P.S. The most amazing thing of all is where Bitcoin is now after nearly 2 years of competition from every type of "advanced" alt coin under the sun:

***************** 35 times the value of its nearest competitor. ***********************

After hundreds of launches comprising every type of improvement over Bitcoin - none of them even put a dent in it.

Everything you said i agree with, but I did cringe for "credibility reasons" when you quoted the 27 number on the "Market Cap".

i'm not saying you are not credible but the "market cap" is a humorous embarrassment, and I'm ditching it now before the rest of the market educates themselves and it makes us look like idiots.

the question is if i did all the relatively simple things that i needed to do to put "turdcoin" in at oh say 16 or 17 , would you be quoting it now ?  

that fact is the "Market Cap" is out of hand and it was great while it lasted, but its time for a new set of rules,(old rules)  which will obviously become the most efficient and make the coinmarketcap look like the embarrassing list it is.

this stuff always happens with sociological market dynamics - coinmarketcap was just protecting their number 1 which is Bitcoin as that power fades so does the relevancy of the Cap.

My suggestions were noted previously but maybe they can be expanded on :

maybe we can think of some parameters that just take the "embarrassment" factor out first.

then move (childlike) onto more core economic parameters?

[iampingu]

XPM was my entry coin. The more I learned about it the more I liked it and realised it was a major 'cut above the pack'.

When the price tanked, I still held onto a few hundred that I had (which was a lot for me at the time) just because I rated it so far above anything else.

It's Peercoin's younger brother (known to me as 'Power PC' from its acronym) which is one of the 'greats' of all alts - maybe even more so than Bitcoin. For ages I thought that PPC would definitely steal Bitcoin's crown due to Sunny King's vision for a highly articulated crypto-economy where Peercoin's high transaction fees propelled into the role of  trunk transmission for very large financial transactions.

XPM is still at 27 on marketcap so it's by no means dead. PPC is at 7 with DOGE and LTC the only mined coins ahead of it. That is a phenomenal achievement for an alt coin its age to have retained such a high ranking.

The rule is - wherever PPC goes, XPM goes. They are joined at the hip, so with PPC at 7 and XPM at 27, means XPM is a fantastic buy.

Get stuck in because it ain't goin nowhere folks.

P.S. The most amazing thing of all is where Bitcoin is now after nearly 2 years of competition from every type of "advanced" alt coin under the sun:

***************** 35 times the value of its nearest competitor. ***********************

After hundreds of launches comprising every type of improvement over Bitcoin - none of them even put a dent in it.

Everything you said i agree with, but I did cringe for "credibility reasons" when you quoted the 27 number on the "Market Cap".

i'm not saying you are not credible but the "market cap" is a humorous embarrassment, and I'm ditching it now before the rest of the market educates themselves and it makes us look like idiots.

the question is if i did all the relatively simple things that i needed to do to put "turdcoin" in at oh say 16 or 17 , would you be quoting it now ? 

thank you, for the first time, someone openly recognising that cmc means absolutely nothing.

[digitalindustry]

XPM was my entry coin. The more I learned about it the more I liked it and realised it was a major 'cut above the pack'.

When the price tanked, I still held onto a few hundred that I had (which was a lot for me at the time) just because I rated it so far above anything else.

It's Peercoin's younger brother (known to me as 'Power PC' from its acronym) which is one of the 'greats' of all alts - maybe even more so than Bitcoin. For ages I thought that PPC would definitely steal Bitcoin's crown due to Sunny King's vision for a highly articulated crypto-economy where Peercoin's high transaction fees propelled into the role of  trunk transmission for very large financial transactions.

XPM is still at 27 on marketcap so it's by no means dead. PPC is at 7 with DOGE and LTC the only mined coins ahead of it. That is a phenomenal achievement for an alt coin its age to have retained such a high ranking.

The rule is - wherever PPC goes, XPM goes. They are joined at the hip, so with PPC at 7 and XPM at 27, means XPM is a fantastic buy.

Get stuck in because it ain't goin nowhere folks.

P.S. The most amazing thing of all is where Bitcoin is now after nearly 2 years of competition from every type of "advanced" alt coin under the sun:

***************** 35 times the value of its nearest competitor. ***********************

After hundreds of launches comprising every type of improvement over Bitcoin - none of them even put a dent in it.

Everything you said i agree with, but I did cringe for "credibility reasons" when you quoted the 27 number on the "Market Cap".

i'm not saying you are not credible but the "market cap" is a humorous embarrassment, and I'm ditching it now before the rest of the market educates themselves and it makes us look like idiots.

the question is if i did all the relatively simple things that i needed to do to put "turdcoin" in at oh say 16 or 17 , would you be quoting it now ?  

thank you, for the first time, someone openly recognising that cmc means absolutely nothing.

cheers - i'll note if you know history they started to core spam (or maybe the core spam started) (probably related)  - after Quark passed Namecoin, you could feel the panic.

we will be there again, simply, in the mean time we can now scrap CMC.