Topic: [ANN] MON | Monocle | Merge Mined on VTC Vertcoin - No Premine - Scrypt-N - page 76. (Read 145934 times)

OP updated with some pool nodes that plan to add MON at launch

Not possible to solomine them together no, but what you could easily do is set up your own p2pool node for VTC, and add merge-mining for MON, then you'd be solo-ing MON directly into the MON wallet on the node, and mining VTC on p2pool (with zero fees since it would be your own node)

Great idea, I can´t wait to mine some MON together with my VTC!

I just wrote an article on my german cryptoblog about your project : http://www.bitcoinalmanach.de/uber-monocle-coin-und-merged-mining/

So it's not possible to solo mine VTC and solo mine MON at the same time?  Maybe I'm just confused.  Also I'm assuming that no modifications need to be made to the actual mining software, ie vertminer and sgminer.  They should be ready to go?  I know I'll have to change my configs around though.

mmouse>
thanks very much for explaining,
trying 2nd pool now 

There's a lot of FUD out there concerning p2pool, and some of the warnings are more or less true for the litecoin or bitcoin p2pool (but only for them).


These hashrate categories are no strict rule, they're more or less informational.

At first you've to understand that on the long run (say: three or four weeks of constant mining) you'll earn the same amount of VTC regardless on which of the three p2pool networks you're mining. (Use one of the mining calculators to know how much to expect for your hashrate. Keep in mind that the VTC difficulty does change quite a lot, see http://www.coinwarz.com/difficulty-charts/vertcoin-difficulty-chart or so.)

On the first p2pool the pool share difficulty is quite high (120K at the moment), so it is difficult for your miner to get a share at all. But when you get one, you'll get lots of small payments quickly, as the pool finds a lot of blocks (roughly 50-60 blocks per day). But one share is only valid for 12 blocks, so there will be times where the pool finds a block and you get no payment, because you're too small to find pool shares quick enough. If you can live with that, you are fine even with the biggest vtc pool (remember: these "times of no payment" are a purely psychological thing. The sum of your payments will be correct according to your hashrate.)

If you - unpatient as most miners (including myself) are - prefer to get regular payments with each block the pool finds, you're better off with the second p2pool network. Share difficulty is at 20K atm, and the pool finds about 8-12 blocks per day. As a share is valid for 12 blocks also, you can be certain to get paid with each block found.

The third p2pool network has quite a low hashrate atm, so it finds only 0-2 blocks per day. This can be an advantage if you prefer to get only few (but bigger) payments, or if you're a really slow miner (say you have an old spare GPU which does 50KH/s or something). So I personally don't like it, but as far as I know there's no disadvantage to use it.

Hi everyone,

The advice to set up your own p2pool node is excellent - this is actually the way to get the best payouts anyway, as it minimises network latency between your miners and the node.

If you're running your own p2pool node using https://github.com/donSchoe/p2pool-n adding MON will be pretty straightforward.

You can of course solomine MON in the wallet (or connecting vertminer or similar to the wallet via RPC) just like any other wallet, however if you do that you'll be mining only MON and not VTC at the same time.

For most people, using one of the public p2pool nodes that add merged-mining will probably be the route of least resistance though.

Is it possible solo mine solution for merged mining I'll switch to solo may be.

I am gonna try it, never done it, only read few discussions,

on p2p pool list is 2nd for 1.5-3Mhash, and here are less than 1M on 2nd , is there any benefit if I go to 3rd from 2nd ? ( I have 620 khash)
thanks

Well... setup your own p2pool... i did it too

its not that difficult and done with a bit linux knowhow under 1h.

Linux:
http://coingolem.com/how-to-setup-your-own-p2pool-node-144/

Windows:
http://coingolem.com/how-to-setup-your-own-p2pool-node-windows-212/

I can say linux works. No clue if windows works too

That's definitely not true. I'm mining on the second p2p myself for weeks now, with about 750kH/s. It pays out regularly and quite as much as one would expect.

You will need to mine on one of the p2pool nodes which adds MON merged mining

But I want to mine solo...

Am a bit confused / sad that it can be mined only on P2P , because me and a lot of another people, wont have too much hashpower to get something from P2P and 2nd and 3rd  p2p are not so good solution I think 

i understand decentralisation, but p2p is a bit problematic for <1MH miners.

Cool I will try this coin out never merged mined before

IRC channel added to OP, come join us!

It's a merge mined coin, you can mine VTC and also get MON.
The idea is to have a sidechain (meaning a mirror of the VTC blockchain but independent to it to a certain extent) to test or implement new stuff, whilst adding the cool "merge mined" factor to VTC.

Why a new coin?

What is the difference with VTC?

Good suggestion, thanks, added those links to the OP.

Hi,

First of all, let me say that i'm very excited about MON !

And I also like the idea of it being linked with p2pool, it's a very clever way to get an even more decentralized network.

If i may, let me add some suggestions:

It would be great to add some links to p2pool mining guides on both this thread and the VTC site before the launch of MON.

Many people are going to look into VTC/MON and we want to provide them a simple guide to start. There already are some informations on how to mine MON on p2pool but there aren't any general informations on p2pool mining.

VTC mining is already specific compared to regular scrypt mining, if you add p2pool mining settings to that, many people will give up.


Just my 2 cents.

Anyway, thank you !

See you ++


Edit: some links that could be used:
http://www.reddit.com/r/vertcoin/comments/21r4y8/vertcoin_p2pool_quick_start_guide/
http://www.reddit.com/r/vertcoin/comments/22hved/vertcoin_p2pool_faq/

OK, to address all the questions in one, we will shortly be releasing more information about the mining side of MON. The necessary software will be available to operators of public VTC p2pool nodes in the next couple of days, so well in advance of release - please sign up to the mailing list in my post above (and also now added to the OP) if you run a node and wish to add MON, so we can notify you as soon as more information is available.

There will be no centralised (stratum/NOMP) mining solution for MON, and we don't intend to release on ourselves, or assist in it's development - one of the things we like about MON is that it encourages more decentralisation by being merge-mineable only on p2pool, so while we're sure someone will come along and add support to centralised pool software at some point in the future, it's not something we will be doing ourselves.

To the miners:

- Yes, you could mine just MON. You could solomine it, or someone might set up a MON only pool (you can mine it just like any other non merge-mineable chain). None of this would make much sense though, since you could also mine both VTC and MON at the same time, and get the same amount of VTC you would usually get AND also get MON, so mining MON only (and effectively throwing away the VTC you could be mining) wouldn't make any sense.

- There will be no direct effect (just because you're mining MON) on the VTC difficulty or the amount of VTC you mine. If you mine VTC+MON on a p2pool node that implements the code we will be releasing in the next few days, you'll get exactly the same amount of VTC you would have got if MON wasn't being merge-mined on that node, BUT you will also get MON, so the MON is a bonus on top of the VTC you would have mined anyway.

- The mining software is the same as you already use, but if you're mining on a traditional/centralised pool you'll need to move to a p2pool node to get MON, and no matter where you are mining at the moment, you'll need to change your settings so your miner passes both a VTC and a MON address to the pool so it knows how to pay out your MON.

TLDR; Watch the OP, we'll add a list of p2pool nodes who are adding MON, you'll need to add your MON address to the miner configuration, all the info will be added to the OP over the next couple of days.