Topic: [ANN] Independant Miners Alliance Official Launch Notification (IMACredit coin) - page 9. (Read 22160 times)

I agree, that is a risk.  Not sure what anyone can do to prevent that though.

The math works out a bit differently to.  A corporate data center like GAW runs can easily have 1M times as much Scrypt ASIC based mining power as a home user would have with a CPU.  How many botnets are out there that could load a 22MB executable onto a million infected PCs, run it, and not have it show up on the taskbar?  Especially an executable that eats 100% of the systems CPU?

Will some try?  I suspect so.  

Could someone go to Amazon Web Services and rent 1000 VMs to mine?  Of course they could - but even that will hopefully represent a small fraction of the potential miners out there, and it wouldn't be free to the AWS renter.

Admittedly, success of this coin is dependent upon a large number of miners each going in with a relatively small amount of hash rate.  Will that happen?  Well, it won't without a coin to try it with.  It might either on its own, or based on the success of "The Crypto Void" game by 1BillionHex when that becomes available.

Cassey

i can not clear this coin is cpu or gpu

Fully agree with this but you make a point of saying that this is for the 'miners' and not the large datacenters or corps. The problem is that its just not true, reality is that you are just going to switch one group (ASIC farmers) to another group (botnet owners, CPU Farms).

Please let me know if you find a miner that doesn't stack overflow at N=16.  I have a half dozen GPUs I'd love to assign to IMACredit.

We tried SGMiner, but even at an intensity of 8, it crashed within minutes when N was set to 16.

Cassey

 8)yes, GPU

More like CPU - yes, GPU - maybe, with a small advantage over CPUs (perhaps 10X, not 200X), ASIC - never.

If ASICs ever get close, say in a few years, a one line change in the source code and a new wallet is all that is required to regain the distance.  This coin has been tested up to N=20, its works just fine.  Also, with current technology and N=20, it hashes at about 1000 Hash/HOUR.  That was not viewed as practical.   N had to be 15 or greater to provide protection from this upcoming generation of ASIC, so N=16 was chosen to give the coin a few years to grow before technology caught up and required a new wallet.

This coin is NOT a Pump & Dump, there is no way for raiders to jump and and mine millions of early 'easy' coins, hold and then dump them.  In fact, early users are penalized just a bit by the slower block times associated with insufficient nethashrate.  Of course, the chances of finding a block are much greater for early adopters, just the rate of block finds on a network level are slower.

So crank up a wallet, run it in background, and come back in a week to check your balance - then rejoice in doing something different and in helping to prove that distributed mining IS the right way to generate coins.

Cassey

Because the true rarity of a coin is defined by the number of coins in existence at any given time.  

If you goal is to own all of the coins, then you are right, don't both.  If after a year, when about 2M coins exist, your subset will still be significant.

This coin has NO half-life, no scams associate with half-lives, etc.

The coin is designed for the long term, not to max out after a few weeks or months of mining.  And if, like some, it maxed out in 24 years, do you really care if it maxes in 24 vs. 48 vs. 96 vs. 1M years?

Cassey

Quote from website


So another BBL-PPL coin.

CPU vs GPU...

 

92 billion coins

4.3 minute blocks

.......

Why even bother ?.

Varies by miner.  For sgminer its a setting in the conf file, but I can attest that sgminer dies with a stack overflow (as expected).

Highly recommend you use the coin wallet to do your mining, either the windows one or the linux one.  Website (http://www.imacredit.org) has the details.

Note that most coins, like vertcoin, use N=11. This coin is MUCH more memory intensive and slower to mine, but its slower for everyone, so remains equitable.

Cassey

Give it awhile.  This coin has a 256 second block time, and steam is still building to achieve that.  Currently 63 blocks have been found.  The rate is improving as more people join in but we just don't have enough yet to achieve target block times.

Please let any of your idle CPUs work on this coin.  I'm personally expecting to mine blocks per week, not blocks per minute.  This coin is for those interesting in putting their otherwise useless (for Bitcoin) or virtually useless (for Litecoin) or marginally useful (for other scrypt coins) to good long term use.

As with any other coin, the most profitable way to mine is solo mining.  That is also currently about the only way TO mine this coin.  We have not found a public n-scrypt miner that can handle N=16, although we have not tested them all.  Technically: Most current miners will need to change their scratchpad allocation to heap based instead of stack based.  Its not hard to do, but the 16MB scratchpad associated with a N of 16 eats through stack space pretty darn quick.

Note that since the scratchpad is 16mb in size, this coin is highly influenced by the Memory architecture of the system and number of cores more than the speed.  Things like L2 cache or Intels "Smart Cache" are overwhelmed by the coins memory reference patterns.  THAT is why the coin is ASIC proof and GPU difficult.  (All currently announced, much less delivered, ASICs can only handle an N of 14 (sometimes marketed as N of 16384 but that is 2^N, not N - not that marketing folks care.))

This is the coin to mine if you want to fight back against large Corporate Data Centers talking over mining.  Help us help you!

I tried mining with the wallet and nothing is happening. No blocks being found with a i7-960

How do you set N=16 for your miner? What miner VertMiner?

Hope you set N=16 for your miner.  Would also love to know which miner your using, most we tested crash with a stack overflow running with that high of an N.

Those mining that we are aware of are all using the coin wallet to do so (both Windows and Linux)

CPU miner rejects as well.

you fast

All rejects using scrypt n miner.

Welcome back to Independent Mining!

This coin is for everyone with a normal PC or server wanting to mine without being obliterated by Corporate Data Center ASIC based mining!

What is IMAcredit?
----------------

IMACredit is focused on creating a truly ASIC free and GPU resistant crypto coin.  It accomplishes this goal by utilizing the N-Scrypt algorithm with a much bigger N than any other coin to date.  At launch, N=16.  This is 2 higher than the latest ASIC technology will support and high enough that current graphic miners will crash with stack overflows.  e.g.  This is a CPU only targeted coin.

What is the Independent Miners Alliance?

Well, honestly, its the name of one of the four factions in the apparently defunct game "The Crypto Void" by 1BillionHash.  However the name also reflects the goal of having a coin that is independent of the big data center driven coins like Bitcoin and the popular Scypt based coins.

Key Stats:

    Launched on 9/1/2014
    256 second (~4.3) minute block targets
    16 coin payout per block
    No half life
    subsidy constant for life of coin
    ~92B coins (limit of 64 bit math)
     Every block to retarget difficulty with Kimotos Gravity Well algorithm
    ZERO pre-mine, ZERO special blocks, no IPO, nothing hidden,  RAID RESISTANT

As mentioned on the Home page, IMACredit is designed to be CPU bound - a coin for the masses.

Due to its high N factor, each hashing process will require 16MB of memory.  Nothing significant for today's PCs, but an absolute killer for ASICs.  Early testing has also found IMACredit to resist GPU usage, with sgminer crashing due to a stack overflow within minutes.  This testing also shows substantially smaller khash rates than most have gotten use to:  Where bitcoin ASICs are measured in GigaHash, and scrypt ASICs are measured in 10s or 100s of MH, and GPUs generally deliver 100s of KH, IMAcredit's wallet will hash in the 10-100KH range.

Let us be perfectly clear:   This is a coin for the masses, designed to require large numbers of users to meet its block time target.  No handful of users will be able to dominate this coin.    Until N-Scrypt mining code like sgminer implement fixes GPUs and Pool mining will not make sense.  Pool mining may never make sense - this code is designed to be run from the wallet!

Hashing Algorithm:  N-Scrypt, initial N=16.  Codebase tested through N=20 representing 7 generations of ASIC's to come and expected to work at higher Ns.  (for the coders out there:  Heap based scratchpad allocation vs. the typical Stack based which would break at N=15)

Difficulty Algorithm:  Kimoto Gravity Well, with Time Warp Patch
Source:  https://github.com/IMACredit/imacredit
Windows Wallet:  http://www.mediafire.com/download/1vzyh5h0dg5bljh/imacredit-qt.exe
    If you do not setup a imacredit.conf file, please make sure you use the Console window and "setgenerate true".
MacOS Wallet:  not currently available
Linux Wallet:  Build from Github source for maximum compatibility

Block Explorer:  

Pools:  http://mpos.imacredit.org (stratum+tcp://mpos.imacredit.org:10052) - This is a VERY basic, lightly maintained pool.  We REALLY REALLY recommend doing local machine mining.   If you locally mine, give it time:  expect to find blocks per week, not blocks per hour.


Ports:
        Listen:  64097 (54097 for testnet)
        JSON-RPC:  64096 (54096 for testnet)

Sample Configuration file (completely optional for Windows users)
       rpcuser=
       rpcpassword=
       listen=1
       gen=1

Like all high quality coins, IMACredit maintains an active DNSSEED network.  You should NEVER have to specify addnodes.  All wallets should work upon launching.

Social:   IRC Freenode:  #imacredit  

Website: http://www.imacredit.org

Other information:

IRC is NOT used by the codebase for anything (unlike many coins)

UPnP is disabled for your protection!

Development team:  The same folks that brought you YACCoin and 1Credit.

Cassey