Topic: [ANN] Guncoin(GUN) - New GUN Core V2.0 Released - Masternodes are HERE! - page 93. (Read 187710 times)

You hit on one of the more important things that every one misses - liquidity.  If a coin owner cannot liquidate it easily, it has no value to him.  With bitcoin, you can sell something for BTC and then turnaround and buy something totally different 5 minutes later after it clears into your wallets from someone else.  With GUN, based on our user base, we limit ourselves to the firearms community. While you can sell a gun and then buy bullets with the same GUN, someone on ebay is not likely to accept GUN for a payment for anything.  That is why the exchanges play such an important role for GUN - more than other coins.  This is where the GUN users can liquidate their coins to buy OTHER STUFF, other than firearms stuff.  Maintaining a decent volume on these exchanges is essential to keeping GUN going.  With no exchanges, we have no way to convince a non-crypto user to use GUN, he has no way to spend it, except on other GUN stuff which limits his useage.  Getting kicked off of Bittrex was a killer for GUN.  That was a major exchange and excellent visibility, but no one traded us and we died there.  We cannot let that happen on the others.  We continue to buy some coins on all the exchanges each day.  With a price of 25-30 satoshi, damm315er is totally right - a firearm will cost you over 4MIL GUN or more.  I think if we can get that price up over 500 to 1000, GUN looks like a very good option at that point.  Are we there yet - no.  Can we get there - absolutely.  But not if we all sit around and watch.  We think we have done quite a few things since taking over that have had a positive effect on the coin.  Are we done yet - no.  Do we have more to do - yes.  Do we need your help - absolutely.

FYI, we just had a concealed handgun site who followed us on Twitter put an article up on his site about us today.  Once he makes some changes, we will post the links......Please keep the ideas and discussions going!

I have a cloud server, Guncoin wallet is always open. Ip address is : 191.238.100.177

Yea, keeping your wallets open will definitely help.  It bothers me, cause adding these 4 nodes seem to help the network a lot.  They apparently had significant server problems and are just shutting everything down.  But yes, keep your wallets open - more connections the better.  If anyone knows of a good source of at least 3 nodes - let us know.....

Very good - it will take me a while to absorb all this - have a lot of fires going right now.  Keep in mind, we are NOT the original developer and just took things over about a 5-6 weeks ago and we have lots of things going on in addition to GUN.  We do not have the keys to everything yet, this threads ownership for starters since we recently took over.  We did create 4 new seed nodes that helped a lot - which we are told are going away this week - so we will be looking for more.  We will eventually supply a new set of wallets, all that any one uses are already there for the current build.  Most Linux users compile their own anyway.  AFTER, our next source upgrade, we will recompile them.  We will probably put off the Android one as that is wasted today and our limited funds can be better spend elsewhere until we have more to offer.  We can have it done in a week if we need to.  The block explorer was there last week and gone now - it was not created or supported by us.  So we will have to find other avenues for that -  time and money - its all on our list....

In regards to ASICs, outgunning them with more ASICs is always an option, but taking their bullets away seems a lot simpler.  Nothing is cast in stone on that yet - still weighing our options......

That blows..

If several of us keep the wallets open for peering, that should help us get through this, correct? 

@24Kilo, the marketability is currently being worked on, that's the reason for the guncoin trading site.  There's POS (point of sale) equipment being developed (not centered around guncoin), that will facilitate the adoption of guncoin offnet as well, with simple software changes.  Unfortunately, the current cost of the equipment is prohibitive at around $900 per unit, but competing units will drop the price to make it manageable.

A bigger issue IMHO of adoption though, is liquidity.  Right now, even if a store had a POS unit, the store owner would have to sit on the money.  

Example:  A store owner takes in $500 worth of guncoin for sale of some products.  Assuming 30 santoshi value, that gives the store owner just under 4.2 million guncoin.  If the store owner immediately dumps that on an exchange to convert to $cash, they'll be lucky to get 1/2 of that, as there's only so much coin wanted at 30 santoshi, then some at 29, 28, 27, etc, but they will got down to the bottom soon.  

Unless they sit on the coin for later conversion, or trade it for other product or services.  Lots of places aren't going to want to do that.  The smart ones will, but even they will have a limit on how much coin they can hold if it interferes with cash liquidity to pay employees, bills, taxes, suppliers, etc.

We have just been informed that the group that hosts our 4 seed nodes is shutting down immediately.  We will look to find more as soon as possible.  In the mean time, if there are connectivity issues by chance, that is the reason.

I am very short on time at the moment... but a summary...

1. Retaining scrypt and embracing ASIC's brings strength and security to a coin... read the history of BTM - https://bitcointalksearch.org/topic/bitmark-660544

2. BTM is the first scrypt coin that has a difficulty retargeting algo that defeats multipools and increases the value of coin by reducing production instead of reducing cost of reduction - https://bitcointalksearch.org/topic/m.8773105

3. A coin that can only buy BTC has no real value, NLG is a shining example of a coin that has real world use... you can buy a sandwich and coffee with it - https://bitcointalksearch.org/topic/na-554412

4. The dev team of CCN have released some very useful and handy open source software, including Cannapay, Cannatrade, a very, very clever CCN ISO, and Cannacoin V-bulletin Integration for forum(this could be a key for GUN, think AR15.com, etc.).. the thread is only 5 pages and it is all there - https://bitcointalksearch.org/topic/ann-cannacoin-ccn-pow-posv-no-premine-no-ipo-740903

5. CCN is planning to change to PoS(Proof of Stake) which I believe will devalue the coin, getting something for nothing, makes it worth nothing, having said that, BitCoin is proof that PoW(Proof of Work) may not infinitely sustainable.

6. BTM and NLG launched well after the introduction of ASIC miners for scrypt, but embraced the power of the ASIC and focused on adoption and acceptance. Both coins have seen their price rise by over 10 times in the past 6 weeks.

Adoption, adoption, adoption... is the only way any coin will survive... it must become a currency.

As for the anti-gun, anti-2A sector... you give them too much credit... as GUN becomes more adopted, more successful, the harder it will be to defeat it, especially if you fortify the network with ASIC firepower.

I have mined GUN since launch and Dabs who was escrow for the IPO funds is a personal friend of mine. And I have yet to sell a single GUN.

I provided the information and examples of successful coins, I encourage the dev team to research and implement as they see fit for the goals of GUN.

Thanks,

24Kilo

EDIT - to the dev team... you need to be sure to provide the basics which are missing from GUN... block explorer, seed nodes, QT-wallets for Windows, Linux and MAC, and mobile wallets, Android and iOS... and the Original ANN Post at the beginning of this thread needs to be kept update along with the title... have a look at NLG for an example of how to build a web presence that provides the tools and support the community... all thankless and tiresome work... but without it GUN cannot move ahead.

An interesting concept, is the POS (Proof of Stake).

This allows coin holders who keep their wallets open to get 'interest' on the coins they are holding.  It's an encouragement to hold the coins instead of day-trading them or leaving them on exchanges.

I never looked into it or the complexity of adding/tracking it, so can't really recommend for or against it.  But if you're looking for stuff to make gun more interesting to coin holders, that's another thing to think about.

Thanks for your long term support of GUN.  First, while one option of course is to make no changes at all to GUN and just promote it big time.  That was our first choice till we started watching what these new ASICs do to hash rate and can easily take over and dominate mining on a small coin like ours.  While I high hash rate is great if it is one of us or a trader or GUN supporter.  But GUN is a coin with a cause - and an anti-cause.  The anti-cause has access to lots of money and could easily cause significant problems for us with racks of this new breed of ASICs and then dumping the coins.  To many other coins, there really is no potetential risk of this nature and they can just promote their coin and rest on their laurels. I think very few of these will survive long term.  I think a coin needs to adapt to the technology around or it could be overcome by it. 

We are interested to hear more about these other coins and what type of open source features they have created.  Anything useful that is open source, we could roll in to GUN pretty easily if it provides something useful for the end-user.

That was me... and you will be happy to know that I have yet a sell a single GUN that I have ever mined... I don't mine GUN consistently as I am not convinced that it will survive, much less be a success... that is just the pragmatist in me.

Every so often when I am switching rigs between major coins I will point them at my GUN wallet on my server and let them mine while I write new scripts and conf files.

I do check on the GUN thread every few days to what is happening... I am glad to see that the community is still working together and developing GUN.

There will be few coins that will still be viable in 24 to 36 months, the few that will be viable will only because of a determined and dedicated dev team and community.

I would recommend that dev team take time to study the strategies of NLG(Guldencoin) and BTM(Bitmark), both scrypt based coins that have defied the odds and misinformation regarding ASIC's to become successful currencies in their niches. GUN does have a niche market that it can exploit as well.

Thanks,

24Kilo

EDIT - another coin that I recommend the devs research is CCN(Cannacoin)... a small coin with a committed dev team that is producing some very clever things.

EDIT - the reason I am referencing other coins is because each of these coins have developed open source projects that can used by GUN to promote adoption and increase the user base.

Yes, and have seen some huge volume on a few of the exchanges. 

And some big asic just hit the coin, hashrate over 180 mh/s.

There's some asic support for ya..   

I've been CPU mining on my i5 laptop and my six year old AMD desktop machine for about 6 months straight,  just blow the dust out about three times a year and you'll be ok.

I'd be interested in some stickers and patches too.

Somethings funky with the gun faucet.  It say's there is half a gun there but there is really a lot more,  too many transactions and the wallet flips out and shows only .55 gun for some reason.  It has always done that,  but would eventually show the correct balance on it's own and keep on working.  Lately it has been stuck on .55 every time I look at it.

  If I restart the wallet it shows the correct amount,  and then goes to .55 after a while.  It also seems like it's not sending out coins even when it shows a balance.  The chain keeps growing and it is using 53% of the ram in my instance now,  might have something to do with it.  Haven't had time to figure it out.

There are different wallets, so called "selfish" clients that only use part of the blockchain and don't use up tons of resources to run,  I need to figure that out for the faucet, because as of now I am running a full blown wallet.  The instance I'm using to host the website only has 600Mb of ram and 8Gb of disk.

OK, all good points above.....just to clarify....
1) We are not switching to any algorithm that is going to kill the blockchain.  While our hash rate will fall back because the ASICs go away, that is fine, it will NOT fall to zero or we will not switch. Anything we switch to will have some tools available for miners.  These tools are out there now and freely available for everyone to try out now on other coins.
2) The potential algo switch would be made to protect the coin long term, not to make money for it owners, users or miners although we thing they will all benefit from it
3) There are all types of support for Guncoin - mining, trading, coding/programming, Twitter followers/retweeters, facebook likes, forum contributors, etc. etc. etc.  - we sincerely appreciate whatever help we can get - keep it coming......

I'd be worried about burning out my cpu, I have only 1 machine I use for all my needs. And I'm Mac based, they tend not to make Mac mining software. I know there is a couple out there, but will it support this coin? Most likely not anytime soon.


you can compile neoscrypt cpu miner for mac no probs , your mac is intel based so it will shut down when overheating. burning out your cpu is very unlikely.
I use my pc all day long with cpu neoscrypt phoenixcoin mining and gpu groestl mining, working on it, and virtual machines running. gotta use that machine.
Only got a i5-2500k

I'd be worried about burning out my cpu, I have only 1 machine I use for all my needs. And I'm Mac based, they tend not to make Mac mining software. I know there is a couple out there, but will it support this coin? Most likely not anytime soon.


The chain needs to be mined, does it not? If no one mines, this coin goes no where period. I don't know about the other people mining, but I am dedicating my 1.5mh/s asic to Guncoin to help keep the chain running and generate coin for me. Instead of buying it, I mine it. Completely valid way to support the coin.

Also, see the Black "G" logo on the Guncoin site? I designed that and gave it free of charge to the dev team to use as they see fit in hopes it will help them get exposure and generate interest. I also have led them to one of the largest firearm sites and even linked to their site in posts on that site.

I also took a large gamble on this coin and participated in the IPCO. Why? Because I believe in the 2A aspects of this coin and want it to succede.

Be realistic. Every singe person in this thread hopes the price rises. If I wanted to mine just to become rich I'd be mining elsewhere. The 2A aspects are why I support this coin.

You know nothing about me bud. What you did is not read, you assumed...


Understand your points completely. If the algo has to change then it has to change. I want to support this coin and want it to succeed so I'll find away to do that somehow. I'd like to do it by mining. You need to make sure that when you do switch you can survive the drop to (i predict) zero in mining it will cause for a short while.

A gun for half a dollar? I'll take it  

edit:
even a broken one...

It would have to reach around a 100 million dollar market cap, which means it would have to be roughly in the top 3 coins; so realistically, probably never unfortunately.

Around 10 cents would probably be the highest you could hope for realistically... and even that is a stretch.

We have been mining GUN with ASICs since we took over and understand your concern.  Our motivation in potentially switching to an ASIC-resistant algorithm is NOT to hurt or hinder our miners or the coin, but to protect them all.  Right now, we have a 14MH/s Hashra ASIC on GUN mining away for us and the overall GUN network hash rate runs between 30-60 MH/s.  Hashra just released their 300 MH/s ASIC this week and others are doing the same.  We will see 500 MH/s ASICs before the end of the year. What happens to our current miners if one or more of these start mining GUN.  How about 1 miner hitting our network with 1.5 GH/s by himself?  Unless you buy those too, you get virtually no coins.  The nice things about X11/x15/Neoscrypt etc is that it levels the playing field somewhat for miners - anyone with a computer can mine coins.  Thinking long term for GUN, that is an attractive feature for newbies. They do not need special hardware to mine coins.

Now lets go down another path....Suppose a Gun Control type group with lots and lots of money gets a hold of a rack of these 300 MH/s ASICs and puts them on GUN.....Worse yet, they then dump them continually for 1-2 satoshi.  This is the way to kill a coin and has already occurred with ASICs. Coin technology is changing every day and coins that stay stagnant will eventually die - that will NOT happen to GUN on our watch.

Our top priorities moving forward are to protect the coin and our users/miners (future ones as well as current ones).  Staying technologically current should address these priorities.  So you can take your ASICs and mine other coins, sell them on Ebay or put them in closet with our Butterfly Labs Jalapenos that used to mine BTC that are now technically obsolete.  Hopefully, that answers your questions and clarifies our position.  Thank you so much for mining GUN to this point, PLEASE continue to do so!!!!