Topic: ★[ANN] [Fatecoin] [FATE] IS ON YOUR SIDE! No Premine - CPU Friendly★ - page 16. (Read 69628 times)

Not sure how to mine this coin. I have 2 computers on it. Neither one is ever on the same block and when I get some immature coins, it disappears after a while.  I've been at it for over 5 hours and still nothing is confirmed. Don't know how some people could get 10's of thousands of this coin. Am I missing something?  I have restarted my wallet over a dozen times today.  I guess fate is not on my side. 

My MalwareBytes anti-malware blocked twice today outgoing suspicious communication for fatecoin-qt.exe on port 57985 to address 113.105.144.37 Anyone else have this experience? Should i be worried about my PC been hacked?

Where is the Dev?  I thought people in China don't sleep.  Please change this thread's title to:

★[ANN] [Fatecoin] [FATE] IS ON YOUR SIDE!  No Premine - CPU Friendly★

Thanks.

True, but I think his English is much better than my Chinese. I only know two phrases. Wo ai ne and Gung Hay Fat Choy.  haha

We can only assume what the dev means to tell us since his English is how our Chinese is!

What we need is an English speaker that knows Chinese or a Chinese speaker who knows English!

After we have this we can go to the moon!

FATEr's. After reading through some of the pages. I feel FATE has a lot of potential.  The Dev (fatecoin) seems honest.  He put up bounties by purchasing his own creation since mining was and is very difficult.  I am curious to see what his plans are for this coin.

FATE is pretty much a CPU coin. Mining it is easy (click of a button), but earning it is very difficult. After seeing how much support and IPO (173BTC) Heavycoin received due to it being advertised as a CPU coin but really has nothing else going for it. I feel we could easily get a fraction of the support due to our unique algorithm.  The only thing holding us back is the lack of promotion and the Dev's lack of English.  Yes, it is very hard to understand what he is saying sometimes.  Someone should be appointed as the English promoter of FATE.  Once we get listed, there's only one correct path which is UP! Also, the header of the thread here should be changed to something like:

★[ANN] [Fatecoin] [FATE] IS ON YOUR SIDE!  No Premine - CPU Friendly★


Just a thought.

Thanks. That's a relief!  Yeah, I like this coin, hopefully I can pick up some before the word gets out. 

@trademark: right! Once they confirm, they are yours. It's only that "unconfirmed" period which is uncertain But your balance is yours - those are confirmed, owned coins.

The algorithm seems to be standard Scrypt, but the dev seems to have written in some forking code which makes the blockchain split. I suspect it's a sort of "Proof of Connection" system, where the people with the most nodes (friends, as the dev puts it) have the best chance to be on the correct chain.

How one influences this is beyond my knowledge.

EDIT: I cannot escape the feeling with this coin that it's really going to be worth something. It's like the secret nobody knows about....if and when the dev unveils his secret plans, we'll find out. But the casino thing....can you imagine the Chinese crypto community hopping on this as the de-facto gambling currency? Those of us with coins would be worth a fortune. Of course, the chances of it happening are pretty small But them's the gambles!

Fun coin though

Rit.

Is the dev trying to get FATE in exchanges?  I am really curious on how much it worth.

That's if it's in the "unconfirmed" right? not in the "balance"?

Bear in mind that you could also be on the wrong chain, and there is no way to tell.

You could throw 50 Gigahash at this and mine a million in 2 hours....only to have them go poof when the chain resynchs.

It's luck

Rit.

difficulty info(GPU and CPU will be the same in fatecoin):
 
1.For GPU mining the difficulty is random,
   0.00024414---0.24414

 2.For CPU mining get the lowest difficulty :0.00024414,Difficulty is the same.


So it looks like difficulty will never be higher than 0.24414, isn't that way too low?  and won't it keep prices down?

Thanks Rit. Once FATEs are in my balance, are they mine to keep forever?  or could they magically disappear?  Also, what algorithm is this coin? It seems very different and original.  I take it, it's not a clone right?

OK, so what happens here is that the blockchain splits (forks) randomly. We do not know how many blockchains there are, or which is the right one. We can only mine.

You find a block. It may, or may not be, on the correct chain. You will just have to wait for confirmations to find out.

If it was the correct one, you own the coins. If it was the wrong one, you will see it in transactions as "unconfirmed" or "rejected". This means you took a wrong turn (which you cannot control).

The easiest way to try to get back on the right chain is (as Serje said) to restart the wallet immediately. But you can also let it self correct, which it should do within a couple of hours. That is, the trails meet up eventually

This coin is extremely unfriendly to pools because they could end up on a wrong blockchain for hours, leaving them with no coins to show for their miners. It's VERY friendly towards solo miners or people who are not running gigantic GPU farms, because the difficulty is low, and mining blocks is reasonably easy, and also if you are on the wrong chain and waste a couple of hours CPU mining it doesn't really matter much. The difficulty for CPU mining only is lowered to almost nothing permanently. GPU miners will have a random difficulty assigned to them, which can be from 1x (same) to 1000x the CPU difficulty.

It's a really good, novel concept. I just wish the dev would pop in and say hello. I have alot of questions

Rit.

Cool analogy, but let's use gold instead of bananas. I can only eat 1 anyways but can handle as much gold as I find.  Ok, if that's the case I'm finding fools gold and not 24k, how do I go upon walking on the right path? 

To no one!
It's like walking on a road, and you have to find some bananas! At some point you have 2 options left or right!

Let's assume you take right and this is not the good way! You will find a lot of fake bananas because you are on a wrong road!
You go to left and you find one banana this means you are on the right one!

Also if you found 2-5 blocks in a matter of minutes then you are on the wrong path!

Thanks. Wait, so my FATE's could be FAKE?  lol, so who do these coins go to then?  Seems like a game of luck.  No wonder big rig miners don't want to play. 

After 80 blocks they will be mature! of course only if you are on the right chain!

How you can find out?

close wallet wait 1 minute and open it again

At least this is what I do every time I find a block

Generated coins must mature 80 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, its state will change to "not accepted" and it won't be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.

Imature means they're in the process of confirmation. You'll soon find out if they're really yours or not This is where the FATE thing kicks in....a high percentage of blocks will actually be phantoms...

Rit.

Yeah. Same here.  I have some coins that are immature, how does it move over to unconfirmed and then confirmed? Thanks.