Topic: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!! - page 365. (Read 946654 times)

Real scenario: Miners can't register at Nitro cuz registration is closed. They won't mine on other pools cuz of orphans leading to bad reputations as theives for "lesser" pools, potential miners leave UTC completely. This solidifies Nitro's hashrate and discourages new miners. All 100% bad for UTC.

I gotta make a #1 pool that has all the hashes... I'd make a fortune. 2% from 70%....
Let's do some math.

144,000 utc mined per day x 70% as nitro's hashrate = 100,800 UTC mined at Nitro daily
100,800 x 2% nitro's fee = 2016 UTC/day x 7 = 14112UTC/week x .00025 (current market value but you know they hold at least until .0004) = 3.528 BTC/week = $2293 USD/week based on $650 for 1 BTC. $100,000/year, not too shabby. Of course you have equipment and electric expenses.

How much is stolen from other miners??? Still think Stulman is UTC oriented? And that's just from current market value. His profits skyrocket as UTC gets pumped. Nitro would get 5.64 BTC/week if UTC rose to .0004. Making money is one thing, Nitro, everyone is entitled to make money, but not at the unwilling expense of others.


RAISE YOUR FEES.

Here is the direct Reddit link where I will have most of the updates.

http://www.reddit.com/r/Bitcoin/comments/207014/penguin_books_penguin_foundation_charitable

Thanks again to all those who are helping these kids who don't have the opportunity to have books like we do, and the Penguin Foundation!

Charity Box's so far:
BTC-0.03122
LTC-0.00
DOGE-1,005.60
PENG-200,000.00
AURORA-0.00
FLAP-0.00
RIPPLE-0.00
KLONDIKE-0.00
ULTRA-0.00
EARTH-0.00
DARK-0.00
LEAF-0.00
MINT-0.00
BLACK-0.00

"Hey everyone!

So for those of you who know me either from Reddit or Bitcointalk, I am the guy who has a glass etching business with my girl that started doing glass etched Bitcoin Glasses and have been an active member in the crypto currency world.

Today, I want to inform you that with being a big part in the Penguincoin community, our community has setup with two charitable organizations for whom we are going to work directly with on helping their cause.

In doing so, I personally have promised to the community that ANY SALE made with our glass etching at https://www.etsy.com/shop/pixskull, we will PERSONALLY DONATE 25% off the sale to our donation wallet, which will get divided between the two charitites.  By tomorrow we will post an article that http://cryptoarticles.com

Our first charity we have been in communication with is Penguin Books and the Pearson Foundation.  

Who is known for such books as:*
*Of Mice & Men
*Jane Eyre
*Pride and Prejudice
*The Odyssey
*Hamlet
*Moby Dick

They're charity is http://wegivebooks.org.  We give books donates books to children less fortunate and tries to inspire caregivers and educators the chance to inspire children to become lifelong readers and lifelong givers.

For every $5 dollars donated, they will send two more bookbooks to their charity partners.

The other organization we have communicated with and are making promises to is **The Penguin Foundation**
http://penguinfoundation.org.au

The Penguin Foundation was established to protect and preserve one of Australia's most important natural assets - the little penguin.

The Penguin Foundation aims to provide a dedicated source of funding to support little penguin conservation projects on Phillip Island. These include little penguin rescue and rehabilitation in the event of a man-made disaster; building new little penguin nesting areas; monitoring little penguin health and behaviour; protecting the little penguins' natural environment; and contributing funding to the vital Phillip Island Nature Parks Wildlife Clinic on Phillip Island. Since its establishment in 2006, the Penguin Foundation has raised over $1.5 million.

Our Goal for the penguin foundation is to be a sponsor, but we will have an adopted penguin as well.  And with the current news articles about the Penguin Foundations need, such as http://www.chron.com/news/nation-world/article/Knit-a-penguin-sweater-to-help-them-survive-an-5293898.php We felt the need to reach out directly to them.

Any and all donations are beneficial to our cause and the meaning of what Penguincoin is trying to achieve, and what a positive outlook the crypto-currency world will achieve from this and it's ability to do more positive for the world then negative.

Thank you for any help, and please spread the word.  I will gladly update everyone on here, as well as on bitcointalk about the updates and donations we have been receiving, as well as the updates on our penguins and books that have been donated.

Sincerely,

Rich Ferry

Donations are accepted in any of these forms so far.  We will gladly give other currencies the option to donate on request.

*BTC-1MEnRWb5EWoiQm32p3aF78MkBAPheqAvZQ
*LTC-LSAgpiArAQCe8jyUrHZ7vG3vyQv4xwY5GQ
*PENG-pDFQzCdyeqKdzP7LRgAc2G21LQJKzHKXQz
*DOGE-DMEAqJBRkPL38A5MPwmfanDx98sWen6Kgu
*RIPPLE-rPYpuvDH7sXBDF2hEYC1E7Ko2sUEKqYetG
*AURORACOIN-ASZfre39f9Po8ndukHznRzo2y18MF2tift
*FLAP-FFUZk1m7gohkbNCK42YjdZA44FuJ5W3tDe
*KLONDIKE-L6zvYLLeVjwFgWN7cpJb3EMfwjJJXenx1J
*ULTRA-UjkkNHz3X9VrVw1t3z6gA74nhg31ZBKHip
*EARTH-epYihNy9sNmLBHo8HUaSKoVsrgaY2c9LvQ
*DARK-XhgrwWsfE3pGcy6sBqcMTSwvegnqQQGjMF
*LEAF-fHxCcHMzRFjrythxRHhZmM2Xz2E4Q7PtV6
*MINT-MXQcJJCmkFTByLuUYqgatVKBuH3FPNmbcn
*BLACK-B4s9FErujyGYrp4VuR5u94vVBwytoTL9XS

How much are 280x/7970 getting with current n-factor?

Look, I keep mining for few months now lots of coins and keep track of things like that. It's not the coin number that worry me..It's the PERCANTAGE missing. In most of the coins, numbers match, when they don't, something is wrong, I go to other pool and it match again...Now having said that..Numbers on Nitro doesn't match!

Not everyone thinks you are dishonest or whatever and I pretend to be part of the group who likes your work and availability a lot.

The unfortunate (excellent) result of your pool comes from many things, some of them you can act upon, some of them not.

For instance, the number of miners steadily increased since UTC itself recovered from its lows.

Therefore, wouldn't the easiest was to ease up the pain to have a lil crash so most miners would go away mining something else while you would do some houskeeping to clean up unused accounts?...

Just jokin'

Take care Stuhlman

Exactly, with a current estimated 3000UTC per days made on fees why would NITRO steal 16 coins out of your pocket. Be serious and check your transactions. Also read what I wrote above about the daily mining estimations that are everything but precise...

Ok this charade has gone long enough. I usually do not participate in a byzantine discussion. But I will state some facts for those in the UTC community I do care about. First net hashrate will fluctuate up to 300% or more and is not accurate at all. That being said stats on pools are mostly based on net hashrate vs pool hahsrate, so it is hardly accurate too. Our main concern as a pool is accuracy of share earnings and unconfirmed/confirmed earnings. As for us not able to handle auto payouts, this is only laughable, we have stated why we took auto payouts off, and why it's in the best interest of our miners to do so. We have shown we have the interest of the community as well as our miners in the highest regard. We always have been proactive, in this community and we built our reputation on that. We did take measures to help before being asked. To the group voicing concern in an extreme way, what makes you a representative of this community, what have you done for UTC? other than the few newbie accounts and people with ulterior motives, I seen very few people raise legitimate concerns. We will respond to those in the community who we know are honest about what they say. It is astonishing that the same people who asked us to defend other pools and help other pools are now throwing accusations at us. We have not built a successful pool overnight, and neither will you. If you take the time we took to investigate issues and resolve them you might get what you want. We did go along with some suggestions that will help a bit, but it's not going to work if you sit here and demand we build your pool for you. Where are the pool ads? where is the offers you will make to miners to come to your pool. What did you do to fix issues with the client? So we have 65% or more of the community mining at Nitro with a higher fee, have you asked yourself why? Those thinking we will close our pool because you it will do you good!! the answer is no. We will keep signups closed, but it is not our job to advertise your pool for you, if you spent the last few days doing so, you would have had better results. You want to help other pools?, criticizing us is having the opposite effect. Take half the time we took with this community and you will see better results. It's a shame that people ask "where can I mine, Nitro is closed" if you spent a little effort to help yourself, this question would have never been asked. You can sit here and make this the Anti Nitro thread or you can talk about how UTC is doing good on the market and plan to have some of those miners coming in now. People will come here, read how all the pools are failing because of Nitro and what a new miner to think? are you helping yourself? Making statements that bring the opposite of what you want accomplished is counterproductive. If you want a solution we will help, but we will not kick our miners out so you can have a big pool overnight. We worked hard to make Nitro a success, and we will not destroy that because you think we should. We have taken steps on our side to help, now you take the steps on your side to help. It will be slow but if you are positive about it will happen naturally.

Keep telling this story to noobs. On my other rig I mine microcoin and calculations are almost within 3% range, so 28% is not ok even for mathematical variance!! Also when nitro was 75% nethashrate, which means they should have the most constant payouts.

the blocks finding is a statistical probability, not mathematical certitude so variance can be huge!

so why math doesn't match? I got 28% less coins than I should...If that's ok then we have nothing to talk about  

Please stop accusing nitro of stealing coins, that's not true, this is a democracy, people can mine wherever they want, i mined there for a long time, and find nitro to have the best payouts around, i also use it as first pool for other coins, people must understand the risk of having conglomerated hashrate in one location and the risks involved, now what people must understand is that they can get more coins mining at smaller pools, for example nitro had 75% of the network hashrate in the past 24 hours, but only had 63% of the blocks, so there is more hashrate than needed there. Please spread the hash and don't be harsh!

Don't be daft.

https://bitcointalksearch.org/topic/annutc-crypto-trade-matching-challenge-25000-utc-for-core-development-fund-506047

Please keep donating to unlock 25000 UTC from crypty trade....

UQYa72meX9VCE4GYMu8uXu5YGipU9pTEzS

I just find out that nitro is stealing coins

I have been mining for 9h today and earned 43coins.

By calculations I should have earn 59 coins if pool efficeincy was 100% and 0% fee (I have taken 92% work utility in my case into consideration as well)..Now pool has 3% fee and 110% share efficiency, it still doesn't make 43 coins  

it's enough reason for me to switch somewhere else...any othere pool within 110% efficiency range and not so many orphans?

Nitro should urgently move 30% of its current hashpower elsewhere, including in a secondary pool.
make it 40% and it will be all the better.

The first 15 miners of the pool already represent 22% of the hashpower.
Taking the 50 first could most likely represent this 40% share.

These are 50 people to contact individually to propose them a deal with a new additional pool.
Given what has been done with the chinese miners this can't be too hard to do, can it?

nitro still has 65-70% hashrate.... 550mh out of 840mh.

If you follow this thread you will notice over the past few days that there is lots of problems with nitro having too much hashrate. This causes orphaned blocks which throw any calculations clean out of the water and cannot be predicted or accounted for. Until nitro even things out by getting rid of miners or opening a second pool there is nothing much we can do about it.

Yes right, but still, 33% is way to much for me to sacrifice good pools are usually +/- 10% (90-110%)...Very often is luck, but I can see the pools that are withing mentioned range constantly and I can see the pools that are always way off, means they don't work properly (too much load maybe? ddos, don't know)

no

With all this power, you're welcome to join our pool at http://thepool.pw/ultracoin, the server is very fast and stable, also no orphans so far. You can give it a test if you like.