I think it's a great idea for a fair and stable launch. Coins with high rewards and low difficulty in the very beginning of their lifes are mostly doomed.
We saw that with Giftcoin. The pools hadn't expected that many miners and crashed quite fast.
Topic: [ANN] microCoin MRC - alcurEX - Scrypt-Jane - nFactor - page 232. (Read 374702 times)
The reason why the rewards for the first 10,000 blocks is so low is that we were thinking of premining them before the release of the wallet to set the difficulty. The amount total is something practically non-existant like 100 or 1000 so it doesn't count as a premine. Anyone could get 1000 MRC in a minute while mining after the 10,000 blocks. I have 600kh/s (regular scrypt mining speed) of hash power and if I get my other 7950 to work then 1,2mh/s. My partner (We are a team of two, he does coding and other functionality and I handle the promotion and public side) has 10mh/s (regular scrypt speed). I believe this will be enough to get the difficulty high enough that the network can't just be rushed by a big miner. The release would be at around 8,000 blocks so people still have 2,000 blocks of time to set their miners up. 10,000 blocks will only take around half an hour to mine or an hour at tops, I believe. Do tell me if you have any other suggestions or see something wrong with our plan. There's still time to change things.
This is a well thought out idea and I love it.
As I see it, there's only two kinds of pople who don't like it, people who just want to pump&dump it and move on, and people who don't understand that a fair and well balanced launch could help this coin to actually have value later on instead of being the next worthless shitcoin.
Is the N factor going to be decreasing at a slower rate since the first 10k blocks are going to be used just for diff adjustment
No, but 10,000 blocks is only a small percentage of the nFactor period in total.
Is the N factor going to be decreasing at a slower rate since the first 10k blocks are going to be used just for diff adjustment
Block Rewards:
Blocks 1-10,000 - 0.001 MRC (To set difficulty and test network)
Blocks 10,000-160,000 - Block reward is the same as block number. (For fair launch)
Example: Block number 10,000 = 10,000MRC, Block number 160,000 = 160,000MRC
Blocks 160,000 - 310,000 - Block reward descending by one for each block. (For deflation)
Example: Block number 160,000 = 160,000MRC, Block number 160,001 = 159,999MRC and so on.
310,000+ - Block reward is a solid 10,000
Blocks 1-10,000 - 0.001 MRC (To set difficulty and test network)
Blocks 10,000-160,000 - Block reward is the same as block number. (For fair launch)
Example: Block number 10,000 = 10,000MRC, Block number 160,000 = 160,000MRC
Blocks 160,000 - 310,000 - Block reward descending by one for each block. (For deflation)
Example: Block number 160,000 = 160,000MRC, Block number 160,001 = 159,999MRC and so on.
310,000+ - Block reward is a solid 10,000
Like the idea.
sounds like a good idea but I think the rewards are to small as well. maybe 100 coins in the begging. This way ppl can atleast pick up some coins spending their electricity pointing their rigs at micro. I know that I probably wouldn't mine at that reward because I would be wasting to much electric for nothing, and I would probably jump on when you guys hit block 10k. I think a lot of ppl will just wait it out till you guys are close to hitting block 10k and then you'll see a huge spike in hashing power. I hope you guys don't get stuck at block 0-10k because no one once to point their rigs at it for .001 Microcoin
It's okay. We were planning to mine the 10k blocks by ourselves. We'll run some more tests and mainly see how high we can get the difficulty before block 10,000.
sounds like a good idea but I think the rewards are to small as well. maybe 100 coins in the begging. This way ppl can atleast pick up some coins spending their electricity pointing their rigs at micro. I know that I probably wouldn't mine at that reward because I would be wasting to much electric for nothing, and I would probably jump on when you guys hit block 10k. I think a lot of ppl will just wait it out till you guys are close to hitting block 10k and then you'll see a huge spike in hashing power. I hope you guys don't get stuck at block 0-10k because no one once to point their rigs at it for .001 Microcoin
Block Rewards:
Blocks 1-10,000 - 0.001 MRC (To set difficulty and test network)
Blocks 10,000-160,000 - Block reward is the same as block number. (For fair launch)
Example: Block number 10,000 = 10,000MRC, Block number 160,000 = 160,000MRC
Blocks 160,000 - 310,000 - Block reward descending by one for each block. (For deflation)
Example: Block number 160,000 = 160,000MRC, Block number 160,001 = 159,999MRC and so on.
310,000+ - Block reward is a solid 10,000
Blocks 1-10,000 - 0.001 MRC (To set difficulty and test network)
Blocks 10,000-160,000 - Block reward is the same as block number. (For fair launch)
Example: Block number 10,000 = 10,000MRC, Block number 160,000 = 160,000MRC
Blocks 160,000 - 310,000 - Block reward descending by one for each block. (For deflation)
Example: Block number 160,000 = 160,000MRC, Block number 160,001 = 159,999MRC and so on.
310,000+ - Block reward is a solid 10,000
I like this idea with the early low block rewards. But I think 0.001 MRC is way to low, when the standard block reward is 10,000 MRC.
It is essential for a new coin, that the coin will be accepted by the miners at the beginning and there should be a reasonable network hashrate at the start.
With only 0.001 MRC I fear that this coin could fail at launch again because it isn't worth mining it although the network difficulty is very low. With a standard block time of 30 seconds, it would last 3.5 days up to block 10,000. I know related on practice it is less, but I don't think a lot of people will mine this at the beginning (me included) and that could affect this coin negative.
I think it is necessary that the early blocks aren't worth to much but they also need an attraction for the miners that they put their hash into it.
In that case I suggest to set the block reward for the first 10,000 blocks to 100 MRC.
I think that change would affect the launch positive and would also avoid that to many coins are mined to fast for too little miners.
Another aspect that is to mention.
I assume that the difficulty for the first 10,000 blocks won't go higher than 0.01. After hitting the 10,000th block some of the big miners could set their rigs into it and then there would be the same issue like in the first launch. They could rape huge amounts of coins before the difficulty rise to a reasonable level. With a higher block reward for the first 10,000 blocks like above that case could be avoided because the difficulty/network hashrate shouldn't explode that much because more network hashes are available up to 10,000.
But I really like the basic idea with lower block rewards at the beginning for a fair launch.
MCR please give it some thought.
Block Rewards:
Blocks 1-10,000 - 0.001 MRC (To set difficulty and test network)
Blocks 10,000-160,000 - Block reward is the same as block number. (For fair launch)
Example: Block number 10,000 = 10,000MRC, Block number 160,000 = 160,000MRC
Blocks 160,000 - 310,000 - Block reward descending by one for each block. (For deflation)
Example: Block number 160,000 = 160,000MRC, Block number 160,001 = 159,999MRC and so on.
310,000+ - Block reward is a solid 10,000
Blocks 1-10,000 - 0.001 MRC (To set difficulty and test network)
Blocks 10,000-160,000 - Block reward is the same as block number. (For fair launch)
Example: Block number 10,000 = 10,000MRC, Block number 160,000 = 160,000MRC
Blocks 160,000 - 310,000 - Block reward descending by one for each block. (For deflation)
Example: Block number 160,000 = 160,000MRC, Block number 160,001 = 159,999MRC and so on.
310,000+ - Block reward is a solid 10,000
I like this idea with the early low block rewards. But I think 0.001 MRC is way to low, when the standard block reward is 10,000 MRC.
It is essential for a new coin, that the coin will be accepted by the miners at the beginning and there should be a reasonable network hashrate at the start.
With only 0.001 MRC I fear that this coin could fail at launch again because it isn't worth mining it although the network difficulty is very low. With a standard block time of 30 seconds, it would last 3.5 days up to block 10,000. I know related on practice it is less, but I don't think a lot of people will mine this at the beginning (me included) and that could affect this coin negative.
I think it is necessary that the early blocks aren't worth to much but they also need an attraction for the miners that they put their hash into it.
In that case I suggest to set the block reward for the first 10,000 blocks to 100 MRC.
I think that change would affect the launch positive and would also avoid that to many coins are mined to fast for too little miners.
Another aspect that is to mention.
I assume that the difficulty for the first 10,000 blocks won't go higher than 0.01. After hitting the 10,000th block some of the big miners could set their rigs into it and then there would be the same issue like in the first launch. They could rape huge amounts of coins before the difficulty rise to a reasonable level. With a higher block reward for the first 10,000 blocks like above that case could be avoided because the difficulty/network hashrate shouldn't explode that much because more network hashes are available up to 10,000.
But I really like the basic idea with lower block rewards at the beginning for a fair launch.
MCR please give it some thought.
The new block rewards are in the OP, so you can look there and see that the best way to earn microCoins by mining is to actually mine it for the longest time. The block rewards will ascend and then descend, so those who mine it for the longest and hold will get the most.
Relaunch moved back to January 10th 17:00 (GMT) due to all the Coinye West hype.
So what your saying is your not going to give the little guys a chance to mine your coin while all the big rigs are pointing their hashes at coinye... Pushing back your launch is a bad idea your just going to let all the guys that are raping coinye come and rape Microcoin before the smaller rigs can get some...dumb idea... infact you should release like XTB and not specify a specific time of launch just a date tht way only the ppl that really want this coin will keep checking on your thread.
We appreciate the input, but this is how we are going to do it now. Do tell me if you think you've found other flaws in our plans for launch or other. Feedback is always helpful.
fucking hour mother of good!
Relaunch moved back to January 10th 17:00 (GMT) due to all the Coinye West hype.
So what your saying is your not going to give the little guys a chance to mine your coin while all the big rigs are pointing their hashes at coinye... Pushing back your launch is a bad idea your just going to let all the guys that are raping coinye come and rape Microcoin before the smaller rigs can get some...dumb idea... infact you should release like XTB and not specify a specific time of launch just a date tht way only the ppl that really want this coin will keep checking on your thread.
I have to agree. I waited for MCR, and then the flop. I got my ass kicked 5 times with Doge, Moon, Gift, YUM and COYE. Only having 600 Kh/s. I got lucky with PRT since it was a silent launch. Would have been nice to have a little guy head start on MCR.
Would you please make a bit more detalied mining guide on solo mining and pool mining. Im new but i have investet in 6 MH/s and i would really like for microcoin to be my main coin now. But at the last launch i keeps getting you are hashing above target 
I'll update the mining guides once the wallet is completely ready. The startT has to be right or the miner won't work or will get too many rejects. I'm sure the problem you were having at original launch was because of the network forking and being behind. There will be a pool ready from launch and it seems that another pool has also been set up, but I am not sure how long it will take them to get ready. But the minersbest pool will be ready from the start. We're positive that the relaunch will go more smoothly than the last time. There's also no risk of someone getting an unfair amount of coins mined, since the rewards will be ascending at first. Relaunch moved back to January 10th 17:00 (GMT) due to all the Coinye West hype.
So what your saying is your not going to give the little guys a chance to mine your coin while all the big rigs are pointing their hashes at coinye... Pushing back your launch is a bad idea your just going to let all the guys that are raping coinye come and rape Microcoin before the smaller rigs can get some...dumb idea... infact you should release like XTB and not specify a specific time of launch just a date tht way only the ppl that really want this coin will keep checking on your thread.
Would you please make a bit more detalied mining guide on solo mining and pool mining. Im new but i have investet in 6 MH/s and i would really like for microcoin to be my main coin now. But at the last launch i keeps getting you are hashing above target
Pool preregistration online
Register here:
http://micro.minersbest.com/
MicroCoin - Mining Pool Server
- Stratum
- VARDIFF
- PPNLS
- 1% Fee
- network protection (DDoS)
- stable Server
- great internet connectivity
Edit:
Pools was up - but the coin was cancelld, and so the pool.
We are looking forward to a restart anyway :-).
Register here:
http://micro.minersbest.com/
MicroCoin - Mining Pool Server
- Stratum
- VARDIFF
- PPNLS
- 1% Fee
- network protection (DDoS)
- stable Server
- great internet connectivity
Edit:
Pools was up - but the coin was cancelld, and so the pool.
We are looking forward to a restart anyway :-).
Pool preregistration online - we must reset the database!!! please register again!!!!
Relaunch moved back to January 10th 17:00 (GMT) due to all the Coinye West hype.
Thanks for the update. I'm glad some thought is going into this coin. What will I need to do to mine this again at launch? I already downloaded the wallet last time. Will it need to be re-downloaded, or can I delete the blockchain and just wait until launch?
Relaunch moved back to January 10th 17:00 (GMT) due to all the Coinye West hype.
Thanks for the update. I'm glad some thought is going into this coin. What will I need to do to mine this again at launch? I already downloaded the wallet last time. Will it need to be re-downloaded, or can I delete the blockchain and just wait until launch?
+1
Relaunch moved back to January 10th 17:00 (GMT) due to all the Coinye West hype.
Thanks for the update. I'm glad some thought is going into this coin. What will I need to do to mine this again at launch? I already downloaded the wallet last time. Will it need to be re-downloaded, or can I delete the blockchain and just wait until launch?
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