Topic: [ANN] LITHIUM (LIT) - NO PREMINE - BLAKE 256 - MERGE MINED -- HOT NEW COIN -- - page 5. (Read 52239 times)

@xPooky,

If you want to consolidate your different blake-256 merged mined coins, you can always trade them via exchanges. 

BlakeTrader is in open beta.  You can also trade your coins there to consolidate the coins.  If you really like one coin, for example BlakeBitcoin (BBTC), you can set your pool setting to have the other coins (ELT, BLC, PHO, UMO) withdraw directly to your BlakeTrader sentTo addresses where they would be automatically converted into BBTC.  I don't see having many different coins as a downside to merged mining.

Lithium LIT should be added to BlakeTrader once there are some coins floating around.  Welcome to the blake-256 family!

So if we have a coin that so far has only different reward structure than other, why should people mine it and hold it, does it sounds reasnable?
EDIT: and where is the dev, i think he should join this conversation

I dont have a crystal ball so no idea what Lithium will do in the future but your argument for just mining one coin at a time falls apart if you are trading LIT for BTC/LTC anyways does it not  

The LIT devs can code the client which means they should be able to not only keep it updated but also add features, something that may not be true even for some POD devs

It is upto the LIT devs and the LIT community to market the coin as it is for any of the crypto coins, I am not the one of the main LIT devs so cannot say what the full plan is as I am busy with my own projects but if I can help LIT with my other work I will

None of the Blake merge coins are copy&paste imho go try it see how far you get, all the coins in the merge have fair launch and have different reward structures why does a solid coin need something new where are the rules that say its a requirement?  

There are still not a lot of merge capable coins about that is a fact!
https://bitcointalksearch.org/topic/m.8668650

Doge only just added AuxPoW and started getting merged mined with LTC almost 6 months after PHO was merged mined with BLC 

ghash.io, btcguild, bitminter, Eligius, mmpool are all merge mine

my pools all use Eloipool which is by Luke Jr and is also used on Eligius and many other Bitcoin pools, my merge pools are also set to PPLNS based on 5 round data

some pools dont even payout in the coins they are mining so it is possible that some Bitcoin pools that only payout in BTC can be merge mining maybe that how they can do 0% fees and still pay for server costs?

whatever the coin algo etc most if mineable coins have a target of so many coins per day mostly this is not related to difficulty its just the coin target so there are always so many coins in the market to trade no matter if you do/dont merge them

you can trade the other coins for LIT one day if that is truly what you wanted but quite a few miners already trade out any coin they mine for BTC/LTC anyways so is somewhat of a moot point?


This is and the other blake merged coins are all based on Bitcoin code base so I dont see what involvement with POD scheme will bring, as Cinnamon said many have tried to hack and have failed and "protects buyers investment" I see many invest in Bitcoin which uses are very similar code base just with a different hashing algorithm which is secure and has been independently academically tested(due to it being SHA-3 candidate) for best attack of 2²⁰⁰ or for brute force 2²⁵⁶ which is slightly better than SHA-256D used in Bitcoin which is 2²⁵⁵ due to the extra collision caused by the double hashing

I guess you just want the hype/spin/BS someone else tells you rather than real working systems with real developers  

I wonder if this was part of a POD scheme  
http://youtu.be/-DT7bX-B1Mg  

Crypto Asian follows me on twitter anyways and I was at the first Satoshi Square - London which was freezing cold 

but still dont see what POD will prevent   

bitcoin have great pool with merged mining and great pool with mining only bitcoin... for example. No monopolist algo and mining. Do you need an example of bitcoin's pools? they are various type of payout pps pplns prop and much more Eligius style...
with the maximum respect for developers blake algo. Obviously.

I am going to chime in here,

Real developers like BlueDragon , myself and a few other of the core team working on the Blake 256 system have no plans (to my knowledge) to involve ourselves in any of the pod schemes.  Thats a bunch of bs started by people who don't even know how to read code.

The only way to 'prove' something is to release it to the world and see if it holds up.

Our code is on github.  It speaks for itself. If you can hack it, break a coin, take it down..... give it a shot.

You won't be the first to try.  We have had so many attacks from all over the world and things I honestly would  have never thought of it's amazing.

So far we survived them all.

Bitcoin was attacked in the past also several times and even took a few hits. It evolved and survived them all. Our codebase benefits from many many things learned by the attempts to attack bitcoin over the years. We are constantly monitoring our networks and looking for signs of trouble and we actually know what to look for and how to stop problems if someone starts trying anything funny.

I see other coins 'released' with high pod ratings that could be easily messed up without even changing the code or recompiling the client because the people running and releasing the coins just don't know ANYTHING about what they are doing. Suppose we take one of your 'highly rated developer' coins , mine it locally playing around with the clocks on the machines used ..then set them back to normal time and use that modified section of the blockchain to 'connect' to your network.........  The timing problems it could cause would be pretty bad.  Even on a proof of work only coin. If the coin was proof of stake the network would be quite messed up for several hours or even days.  There is a good reason PPC has centralized checkpointing.  Transactions on your blockchain could be reversed.  Coins would vanish and people would not understand why. 

Some coins could be just be "snuffed out" since some people don't bother or know how to update thier code and maintain nodes properly. 
I am not talking about a 51% attack I mean just replaced with an alternate blockchain of the same coin. 
There are a lot of people around who know how to do these things most of them are honest.

I don't attack other peoples coins since innocent people could lose coins.
I would not waste even five minutes of my time with destructive actions when I can work on other things that are constructive.

The proof of "anything" is how well it can stand up to the world. That is why you lock your door at night. That is why banks have guards and vaults to keep money in.  These are necessary controls the world has in place.  If they were not there the banks would get robbed. If no one locked thier home some houses would start to get robbed more often. Houses and banks are robbed now even with the locks and safety measures.  But not nearly as often as if they had zero safety measures.

I also agree with BlueDragon and the others who have posted here about mining a single coin vs. mining all the coins at once.

If you get 7 times your hash power this should be pretty obvious.

If you do not care about the other coins do not put addresses in and I think (not sure) the unclaimed coins become donations. (maybe Blue can clairify that)

Finally a warm welcome for Lithium to the blake 256 family

 

I'm curious to understand this fact. that's why I want to experience 8pool as only a single pool. see how many blocks are extracted.
for A&Q about pool contact me . i am delegated by staff in this coin.
8pool has set bonus block finder 1% for best miners now.
is a experiment pool.
...try does not cost anything...

When asking permission to use my network, Photon and Photon qt, was who asked for this wallet. Not sure if giving credit or lazy lol.

Just curious question about the blakemerge pool.

Why does it take so long to get an accepted share? Is it because you have to get a confirm on all the merged coins before it counts?

New at merged mining pools.

Farndogg, just finished reading the entire forum....and then I get to my idea...but you beat me to it...


Merge mining ALL the coins, is the BEST way to mine ANY coins. Think of it as this way: You have someone who wants to throw some money at you every now and again. Included in the handfull of money he throws at you, is a Silver Dollar...2 Quarters...13 Dimes and 46 Pennies.

By Solo Mining, or mining in a pool that only mines one of the available coins...you are in essence throwing away money. Who cares that the coins are traded on an exchange your not familiar with...get familiar with it...make some MORE money. If you only want the Lithium coins...mine the others at the same time, sell them at whatever exchange you want...and use the money to PAY YOUR ELECTRICITY BILL...

I've been merge mining these coins for months now and will keep mining them for a very long time. Dirac (XDQ) currently trades at between 32,000 and 37,000 sat each. They have taken a bit if a hit just like BTC and everything else. About a month or so ago, XDQ shot all the way up to 196,000 sat each....would you throw that coin away because you don't like an exchange? if so, throw them at me, I'll take all you can mine and throw...

Tell ya what, Mine on the merge pools and I will give you an address to send the unwanted coins to so you dont have to look at them. I bet we find more lithium blocks then the single pools.

UMO  uht9DtqH3LHwpzcnYaf98tseaNixYRT5cU
PHO  BbegAxWrg7wQGXVmnj21K5bJLEjNWNJUD5
ELT   eQy1A3a4zY7XALoEYyqExYVCQnA2nZnmL3
BBTC  2gyaqU4DceokMnRPzaCG4fSeawAmXhGQzwh
BLC    BU928pUUSkETaeULcgNL2LqjDWJVBNtbFg
XDQ   dUwHkgLezE6SLrc8GhDQ2Q3oiepRtxzLbX

I think mining muliple coins that you don't want, while easily more profitable, is not good for those coins as it just encourages you to dump the unwanted ones. Great idea, but not for the coins you don't want. They'll easily be dumped and another worthless coin with many worthless bagholders.

@dev

You should post the 8Pool in the OP.

I don't see why not POD, every new coin has one so why thise to be exception

look at the github commit dates to see if a coin has been forgotten by the devs, tbh for small teams or single devs its a lot of work as most of us also work full/part time anyways

things take time Fact!

one thing I can say for sure as I said above everyone has a favorite if you dont like the others sell them to someone who does makes no sense to not get them for free if you are mining a Blake-256 merge capable coin

also as you can see some people are mining the merged pools and have got some LIT today a coin they might not have known about or looked if it had not been a blake merged coin maybe they also love what the dev does with it in the future

maybe you dont see what a bonus it is for devs to work together: for one saves time on bug fixes, testing, sharing code, spotting attacks, releasing updated clients, running pools, running nodes etc..

POD not P&D?

are you saying then that they will abandon the coin?

if so thats an easy one more devs about more devs that can adopt it for the community or eco system if a dev decides to quite working on an open source project

I been working on code base for over a year now I am not going any where as I do enjoy working on this stuff  

let me refrase, many of those coins are way older than LIT, so i will say they are long forgoten, and LIT has a chance if it is not only what i think it is, a coin to revive other BLAKE algo coins, since the merged pool has the biggest hashrate and all other coins are mined same time as LIT, so the miners that get LIT will get other coins that they never thought of mining before

what's a good exchange?

LIT is not even on an exchange yet what if it does not make it to your "Good Exchange" what will you do then?