Topic: [ANN] RootCoin [ROOT] - rootEX™ announced - ANON-tx using BitKey™- PoW/PoS/PoI - page 77. (Read 271907 times)

This is fair distribution.

Cost per coin from mining is 11k at 600 difficulty and was under 5k yesterday.

Very close to the IPO price.

It's really not even worth it, someone currently has 398 root for sale on c-cex at 12499 satoshis ea. If you'd pointed that 90Mhash at nicehash for the last 24 hours you'd have netted BTC0.036576 which would have bought you 292 root including fees. Until / unless the difficulty goes back down below 300, I think I get better value pointing my meagre 38Mhash elsewhere.

Yeah this thing is a bitch to mine.  I have 90mh and it's giving be about 250/day

Yeah I gathered that. Still I got in so fast I would have expected to get a few more of the early blocks =(

Oh well, lucky for some, less so for others!

I'm still all in with ROOT =D

Please spread hash. Big miners constantly changing pools. 4,5 hours on minep.it and no blocks.

Diff was so low that blocks got mined out fast on release. There was no premine.

yes. and +100 blocks from those 500 were mined at the official pool.

Really?? So 500 block were mined within 5-10 minutes?

I was one of the first workers on the official pool, and I also solo mined it for about 10 minutes and all of that happened after block 500 was already reached by the first time I synced the wallet.

check the blockchain. the 500 blocks were mined AFTER the wallet release. I (and the rest of the team) was mining at the official pool from the begining.

Yeah if have to agree, the difficulty is a bit too aggressive. Mining nearly 3 days straight and I only have 2000 coins..

It's ok, at least the miners won't crash the price, but you won't get great distribution.

If at all possible of suggest extending the POW phase by a week or two just to allow it some more time to spread and distribute amongst a wider audience.

EDIT: make that 1700 coins. Difficulty is over 500 right now.

Also if the genesis block contained the premine coins, then what about the other 500 blocks that were mined before the wallet was released? I got the wallet within minutes from IRC and had it downloaded and synced straight away and it was already on block 500...

Should be good, based on the current difficulty and the minimum price of hash at nicehash, I'd say root is pretty under-priced a c-cex atm, I don't think I can mine it for as little as it's being sold, of course that leaves an interesting conundrum because is it under-priced vs the expected market cap, if not then obviously it is being hugely over-mined. But when you only have pure PoW for the first 10 days, and a coin that's only mineable at all for 24 days, people are going to want to throw a lot of hash at it early. Maybe you designed the difficulty retargeting to be a little too aggressive? With such a small window this coin may well never even make it on to the multipools, especially without being supported by a major exchange, or having a large volume market so they can exchange for btc. I know you were worried about people just mining the crap out of it and dumping it all thus crashing the value, but you might have over compensated just a little, and are kinda killing the people who want to support the coin but didn't buy into the IPO. (Which can you blame me, I like literally a week ago spent pretty much all the disposable money I had on a Scrypt ASIC).

i just prepared the button.
shouldn't take too long untill they add us.

We need in Poloniex. This is the good place for trading

I see Bittrex listed on the OP but don't see ROOT on Bittrex?

hey geekeh,

i ll adapt the syntax of the OP.
as for rootEX, there will  be an own rootEX/ROOT trading-pair at the exchange. And the fact that i am valuing 33% of the exchange with
ROOTCOIN is clear enough that i am fully confident with rootcoin and having more than just faith in it.. and yes, rootex is going to be a new exchange like bittrex & Co. tough will have a couple of innovations.

I am working on a whitepaper for rootEX. That will clear your questions.
and please come join IRC and i d be happy to explain you everything, also the innovations in rootEX.

thanks for the interest!
cheers
bitsta

lol. i sent you that message about 60 - 90 min ago..
why you spreading bullshit?

anyway. no worries daxiake. you ll get your BTC. i am buying back a big load of coins.
you re not the only one.

He is busy. Don't worry about this and be patient

Ive been mining this since launch with a 1.5mhash/s zues blizzard and i have yet to receive anything...now i understand 1.5mhash/s isnt much seeings how most people are throwing 30+ at it but i should at least have 1 coin by now...

Bitsta, appreciate your intention to make us whole. Thanks.

Oh and RE the rootEX buy in, first (is English not your native language Bitsta? I know in some other Europeans languages commas are used as decimal separators) It would really be helpful / less confusing if you used commas as you thousand separators e.g. " And 33% of the rootEX-shares will be claimable(swap)
by ROOTcoin-holders valueing 3.000.000 ROOT with 33% of the rootEXchange." I assume this means 3 million root, and really ought to be written as 3,000,000 otherwise it gets confusing because root like any other BTC derived crypto is divisible to 8 decimal places i.e. you can have 0.00000001 root so 3.000.000 could mean 3 root (albeit you wouldn't use a second decimal place).

I'm possibly interested in investing although I'm not exactly flush, it wouldn't likely be for any more than 0.5btc, maybe even just the minimum of 0.1, I'm just curious though (even if very few of us actually have enough root at this point) why only buy in with btc? why can't we buy in with root? doesn't this kinda show a lack of faith in the value of your own coin?

Oh and can you clear up for me rootEx is going to be an exchange for any/all cryptos right ala bittrex, cryptsy, c-cex etc? People could use it to trade ltc/btc for instance right? Your illustration only shows currency pairs with root. And what exactly are the USPs of rootEX for the end user looking to trade their cryptos (apologies if I missed all this being discussed in the IRC) why trade on rootEX rather than bittrex or cryptsy? Does it somehow combine into the privacy / anonymity protocols built into root? I'm sure the market is young enough at the moment that just another exchange can come along and do reasonably well even against other names that because they've been established have some inherent trust, but offering something new or unique or better is obviously better and makes for a more appealing investment opportunity. Why should I believe that rootEX is going to be incredibly popular and will pay its shareholders massive dividends and be a fantastic investment that you'd have to be an idiot not to buy into right now and for as much as you can? Explain it to me as if I'm not the marketing and investment genius that clearly I'm not

Thanks.