Doublethink
Newbie
 Offline
Activity: 42
Merit: 0
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February 27, 2015, 08:43:05 PM |
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No, i will skip this.
CPU coin would be much more interesting.
Too bad.
Good luck with the launch anyway.
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nuggetbram
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February 28, 2015, 12:48:50 AM |
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To those asking about the CPU only mineablility of this coin, unfortunately the algorithm designed ran too fast for the client to keep up with incoming hashes, causing a ridiculous amount of rejected blocks.
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nanoprobe
Legendary
Offline
Activity: 980
Merit: 1000
Traveling in subspace
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February 28, 2015, 01:38:09 AM |
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A coin trying to cash in on the MMGW scam? Interesting. That angle never occurred to me. Pass.
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You'll never know what you're living for until you know what you're willing to die for.
Never look back, something might be gaining on you.
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jc12345
Legendary
Offline
Activity: 1638
Merit: 1013
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February 28, 2015, 02:35:52 AM
Last edit: February 28, 2015, 02:47:00 AM by jc12345 |
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Pity about the X11 algo. Time and time again it gets hash raped by the FPGA farms leaving most coins in the hands of one or two miners. This is contrary to the principle of broad based distribution. It will be too difficult and expensive to mine the coin after the first few hours.
Then I previously warned about doing a coin swap for Greencoins because this will put 6m coins into the market instantly. I see the warning was not heeded and the coin exchange is going ahead. The Greencoin holders have lots of bags that they currently cannot do anything with. As soon as the new coin hits the exchange and the price goes over 167 sats, they will dump the 6m. Some may even dump earlier because at least they can get something out where currently they can not get anything out. The 6m can almost be seen as a premine, with the premine in this case being handed to the public with no anti-dumping control like escrow. I cannot see any economic justification of doing a coin swap. Greencoin holders should rather take the hit on the nose and move on and start this coin from scratch.
The above means that there will be two highly concentrated groups of holders that will have the same objective and that is to sell to make a profit or to get something out. This gives a high risk of a dump fest and sell pressure that will kill the coin. I would suggest that you scrap the idea of doing a coin exchange and that you use a different algo than X11/13/15.
If you carry on like planned, fine, it is your coin, and there is a chance that you can actually pull it off successfully e.g. if the large farms look the other way or if the old coin bag holders all decide to hold and not to sell for at least 10 months or so. After doing a risk assessment though, the chances of the above scenario playing out is higher.
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Shadow_Runner
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February 28, 2015, 04:02:45 AM |
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{
"blocks" : 2,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00024414,
"errors" : "",
"netmhashps" : 0.00025625,
"netstakeweight" : nan,
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"stakeweight" : {
"minimum" : 0,
"maximum" : 0,
"combined" : 0
},
"pooledtx" : 0,
"stakeinterest" : 50000,
"testnet" : false
}
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Shadow_Runner
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February 28, 2015, 04:04:50 AM |
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{
"blocks" : 7,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 1.09119518,
"errors" : "",
"netmhashps" : 0.37278699,
"netstakeweight" : nan,
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"stakeweight" : {
"minimum" : 0,
"maximum" : 0,
"combined" : 0
},
"pooledtx" : 0,
"stakeinterest" : 50000,
"testnet" : false
}
Oh, shi...
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nuggetbram
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February 28, 2015, 04:05:00 AM |
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Source is uploading now - just talking a little while due to my incredible Australian internet...
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Shadow_Runner
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February 28, 2015, 04:05:16 AM |
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This will be very hard mine...  |
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Shadow_Runner
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February 28, 2015, 04:06:55 AM |
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Source is uploading now - just talking a little while due to my incredible Australian internet...
Australia has bad internet  Or you just living in village etc? I'm living in a poor country and have fiber-optical internet... |
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nuggetbram
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February 28, 2015, 04:08:42 AM |
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Source is uploading now - just talking a little while due to my incredible Australian internet...
Australia has bad internet Or you just living in village etc? I'm living in a poor country and have fiber-optical internet... No, I'm living in one of the biggest cities.... I get barely 30 Kib/s upload on our old copper connections... Source is now up anyway |
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Shadow_Runner
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February 28, 2015, 04:12:25 AM |
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No, I'm living in one of the biggest cities.... I get barely 30 Kib/s upload on our old copper connections...
Source is now up anyway
Strange... Always thought my country is backward and my internet is something unusual and miracle |
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Shadow_Runner
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February 28, 2015, 04:12:59 AM |
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{
"blocks" : 12,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 1.08721258,
"errors" : "",
"netmhashps" : 1.07707087,
"netstakeweight" : nan,
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"stakeweight" : {
"minimum" : 0,
"maximum" : 0,
"combined" : 0
},
"pooledtx" : 0,
"stakeinterest" : 50000,
"testnet" : false
}
Blocks moving slowly...
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jc12345
Legendary
Offline
Activity: 1638
Merit: 1013
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February 28, 2015, 04:14:01 AM |
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This will be very hard mine... Just buy some greencoins and exchange them. No need to mine or waste resources on mining as there will be 6m coins on the market shortly. |
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Shadow_Runner
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February 28, 2015, 04:16:57 AM |
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Just buy some greencoins and exchange them. No need to mine or waste resources on mining as there will be 6m coins on the market shortly.
I'm ALWAYS trying to solo, if it possible   |
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biodieselchris (OP)
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February 28, 2015, 04:21:09 AM |
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This will be very hard mine... Just buy some greencoins and exchange them. No need to mine or waste resources on mining as there will be 6m coins on the market shortly. that is correct: in order to be able to give folks enough time to exchange coins for the ones actually backed by carbon (now only the new coin) we are exchanging all coins until block 500,000 and GRE is on block 363939 (727.9 M out of 1B coins) so there will be another 272.1 M to get spit out before we no longer would accept them. So 1.63 M of the 6 M haven't even been claimed yet. Block 363,939 hit at 8 PM and is the block representing the final payout to producers that will be made in GreenCoins representing production through today (Feb 27th, and, assuming the new coin keep chugging along of course). Tomorrow's producer payout will be made from newly minted CO2X coins |
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biodieselchris (OP)
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February 28, 2015, 04:28:10 AM |
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based on a GRE bid/ask of 2 to 3 satoshi, CO2X is currently at par at 333/500 satoshi.
Assuming a market for CO2X ever materializes.
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Shadow_Runner
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February 28, 2015, 04:30:10 AM |
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So I can buy GRE now and exchange it to CO2X later 166.6666667 GRE to 1.00000000 ?
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biodieselchris (OP)
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February 28, 2015, 04:33:21 AM |
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So I can buy GRE now and exchange it to CO2X later 166.6666667 GRE to 1.00000000 ?
yes: but only until GRE hits block # 500,000 (should be ABOUT June 4th or so) |
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Shadow_Runner
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February 28, 2015, 04:34:52 AM |
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So I can buy GRE now and exchange it to CO2X later 166.6666667 GRE to 1.00000000 ?
yes: but only until GRE hits block # 500,000 (should be ABOUT June 4th or so) I must wait till June 4th to exchange it to CO2X or it will be faster? |
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