Topic: [ANN] TagCoin - Multi Token Wallet and Trading Platform - page 33. (Read 301297 times)

Something isn't quite right, maybe the op needs to check his backend / cronjobs. 7mh should roughly get you 30-50 in 24 hours when constantly running, right now.

Hey guys, can you tell me which pool you are using...Because I am using hashfaster and for 24 hours I made 10 TAG coins with 7MH/s

I'd like to ask a question to all TAG pool owners and operators and admins. Do you have a record of your orphaned blocks? Can you check how many of those orphans had more than 250 confirmations already? (Or it was orphaned after 250 blocks after it forked it out?)

The reason I ask, is this is related to coin maturity.

I'd like to compare alt-coins to Bitcoin.

Bitcoin = 10 minute block time, 6 blocks considered confirmed transactions, 100 block mined coin maturity.

What that translates is 1 hour for transactions to be considered confirmed, and 1000 minutes or 16 hours + 40 minutes for newly minted bitcoins to be considered mature.

If you translate that to TAG, the equivalent would be 15 blocks confirmed transactions, and 250 blocks for coin maturity. I see a lot of pools "confirm" or "mature" their mined TAG too early. I even see some pools that say they pay for orphaned blocks (so miners could care less.)

Ideally, 1 confirmation should be enough, but that's not going to happen unless the coin is mature, which basically means it has a lot of hashpower already, and it's stood the test of time (4 years for Bitcoin.)

I don't know about PoS, but if we still have PoW blocks being orphaned 16 hours later, that's a problem. I'm pretty sure PoS blocks don't get orphaned, but if they do, it does not look like it will be an issue (unless one spent those PoS mined coins.)

If anyone actually has 100,000 TAG, to buy it now one would need to spend more than 50,000 USD. Let's pretend you got really cheap coins, and it only cost you 10,000 USD.

Yes, the rate is better than your typical bank of 1% per year.

You'd still be better off buying a rig for 1000 USD with whatever hardware you can find in your local computer store, even though they are jacked up and overpriced.

The come on of 1.5% Proof of Stake is for the feeble minded. It is similar to the following conversation I had with a store:

Store-A: Sir, our items have a 20% discount! What was 1000 is now available for 800!
Customer: But I just saw that exact same item at Store-B and they are selling it for only 700!
Store-A: But they don't offer any discount! We are 20% off! We are on SALE!

He didn't quite get that I was not willing to pay 100 more for their service, just because they had a promotion.

That was an actual conversation I had with a store employee who was trying to sell me their service, minus the brand and the actual pricing.

Despite getting it cheaper from Store-B, he kept insisting that they were on sale and had a discount. Whereas Store-B had the exact same item or service for less, but had no discount.

This coin offers 1.5% !!! That's infinitely more than bitcoin or litecoin (or any other alt-coin that has no PoS). Per year.

You're looking at this as a form of rewards currency right? All other rewards are based on points arbitrarily set at anywhere from 1% of what you bought to 0.01% of the fiat value of what you bought.

This is true for National Book Store (large chain of book stores in the Philippines). This is true for Mercury Drug Suki Card. This is true for SM Advantage Rewards when you gas up a full tank at Shell Gas Station. Get a chance to go to Italy and visit Ferrari or something.

You spend 100 to 10,000 pesos, and you get 1 point, equivalent to 1 peso when you decide to spend it.

It's not worth it to spend almost a million pesos just to get a free hamburger or whatever is the promotion. It's only worth it if you run a small to medium to large size business, and you use your credit card to swipe all the gas of 10 vehicles that the company uses, fill them up to full tank, make them pay the bill, and you keep the rewards or points.

Or, in the case of the drug store example, you run a small hospital, buy lots of medicines, charge it to the accounting and purchasing department, and you keep the rewards or points.

Starbucks has a similar promotion. Buy 100 coffees, get a sticker, put it on this notebook. Get another free notebook at the end of the year. Get a free cup of coffee.

I guess the loyalty is worth it. When there are more "customers" or "users" of the system, the miners will come back regardless of orphan issues, if they calculate that the losses from orphans are outweighed by the value of the coin.

But the security of the coin, as far as PoW is concerned, is dependent on the miners.

If blocks get orphaned, that means some transactions can be double-spent. That means something will go wrong if merchants and retailers trade coins or exchange them for products or services, and ...

Of course, a few years from now, your typical 1000 USD GPU rig isn't going to mine the same amount of TAG anymore, or the PoS is actually more value. There will be a new generation of mining rigs.


I used to be just a trader. Now I'm also a miner. I'm not yet a pool op, but I think I understand that problems with the coin can become frustrating.

I'm setting up a few small rigs, whose main purpose is supposed to mine TAG exclusively. In the mean time, I hope you don't mind, I'm going to point it at other coins for now.

What I'd like to happen in the future (hopefully the very near future) is I only mine TAG, I exchange it at tagcash or the official exchange directly into Philippine Peso, and I make a living maintaining my mining rigs.

What I'd like to really happen, is tagbond or tagcash becomes a "bayad center" or a payment gateway, and I can pay my Meralco (electric) bill using the TAG that I mined.

I only need to pay my electric bill once a month.

I will only stop mining if more than a very large percentage of the TAG I mined goes to paying the electric bill, but certainly if there is none left over.

Hey there.

@Dabs - thanks for the tip/s. We are all indeed busy - but like what Hazard said, communication's important. I'll make sure to keep everyone up to speed (and find time to do so).
@Centurion - cool price chart. I'll talk to Mark about the hot wallet.

I'll let you guys know about coin transfers/account verification issues shortly - have to check these things with IT in a bit.

To give you all an update on what's keeping us busy nowadays:
1. Aside from the wallets/coin, we're working closely with some local crypto-enthusiasts to make use of our API.
2. Gaming Tagverts - we'll be launching a small gaming campaign this week.
3. Coin Education - our sales team is letting merchants (big & small) know all about crypto currency.
4. Standalone Sites - several sites that will integrate Tagbond is currently being built.
5. And more...
 
For any other issues, send me a PM.

I need risers. ... I've got 15 GPUs and they are not mining.

Hi Alex, nice to see you here. So, you've been designated the spokes person, PR, marketing, etc. Can you check into my tagbond account? I told Mark I should be Level 5 Verified. (or whatever is higher than what's there.)

I've got a tip for you guys. Whoever is the speaker, or sometimes in this case, the founder, is the *entire* company to most people, because that's all they see.

I'm the COO (Child of Owner) of a very small company, and since I'm the only person the outside world sees, they think I'm accounting, marketing, merchandising, sales, payroll master, and security guard all in one. A few years ago, all I did was format computers and fix printers. (I still do that.)

In fact, I'm also the only person the inside world sees, my tailors, sewers, cutters ... they think I'm responsible for everything here.

Sooooo.... ... ... sometimes I wonder myself how I have the time to even post here.

*edit* I'm also known as the SOB (Son of Boss).

@ anyone at Tagbond, Tagcash,

I tried to transfer 35,000 coins (not tagcoin) early this morning from Tagcash and they haven't been transferred as of yet. I am assuming the hot-wallet needs coins put in it? I will be transferring the remaining 800,000+ coins shortly. Please be sure the hot-wallet has a sufficient amount in it. Thanks guys. 

ID 13326

I have added a Tagcoin price chart page to TagYag.org

You can find current prices vs. bitcoin/USD and view monthly price fluctuations via the graph.

https://tagyak.org/charts/

I have also changed the look of the site if anyone would like to take a look.

@ Dabs - you hit the nail on the head - trying to peg the price of TAG to something other than BTC. But you know how retailers are here in Philippines. I also have to battle against the might of SM Malls as well as the Ayalas ownership of Globe and Gcash as we introduce Tagcash.
As for PoS, we will address that in the future. For now it is a good selling point for the average Joe in the street here. But if the technical problems outweigh that then we will have to revisit.

I am bringing in Alex, one of my writers here at Tagcash (SisyphusEsperanto) and he will be responding to posts and giving news about what we are working on. I will make the occasional post if he thinks I need to, but anyone is welcome to PM me, email me directly - mark @ tagcash.com, or skype me - markatvtc, with business ideas, proposals etc.

"PoS is really an acronym for another phrase that I won't mention anymore."

 

Um... okay. I think we should take a deeper look into this proof of stake. Will it really help secure the network?

There is already a 3 TAG low limit (which will be hit in 50+ years), so PoW miners will still mine this coin 50 years from now.

PoS, while attractive, causes these problems, for whatever reason. But really, there are many ways to earn TAG, from contests, to giveaways, and even from mining.

A CPU miner will earn more TAG in a year than someone who has 10,000 TAG sitting in his account waiting for PoS blocks to be mined.

PoS would have helped secure the TAG network, if it did not discourage the PoW miners because of the orphans that is caused by PoS.

The PoW miners will submit and propagate a valid block every 4 minutes.
The PoS miners will submit blocks as soon as they have confirmed their stake, and that's every wallet that is open and online, probably with no password.

There is a possibility that PoW miners or pools can get hacked, stolen, etc. I think they are smart enough to avoid it.

There is a higher possibility that PoS miners, just because they keep their computers with their wallets online, will be targets of hacks, theft and they will lose their coins to trojans or keystroke loggers or whatever.

Your average PoW miner has to set up a multi-GPU rig, create accounts on mining pools, set up a network, and otherwise maintain it all.

Your average PoS miner just needs a Pentium 2, 128 megs of ram, with the first version of the QT wallet running Windows 98. Second Edition.

Okay, I'm exaggerating.

Let's take a poll:

1. How many PoW miners are out there?
2. How many PoS miners are out there?

Then let's take this question:

What will happen if PoS is completely removed? What happens to the PoS miners? Will they all leave?

Obviously, you can't take out the PoW miners. Otherwise we are dealing with a pure PoS coin. Dunno about that.


Anyway, I've had dinner with Mark, but its not because he fed me that I'm still supporting this coin. And it's not because I live in the same country he now calls home for the past decade. And its not because he has invested his own money into this venture and other things related to the coin.

I think it's because there is a plan to peg the price to no other coin but to what the retailers and partners are willing to pay. I think the rewards as a currency is really something. I see SM rewards; they have 40 malls. I see Robinsons rewards; they have 20 malls. I see a bunch of this and that rewards. They all suck. TAG is supposed to change all that.

Besides, in the end, the miners will dictate 90% of what the price will be per TAG. (I'm talking about the PoW miners, I think the PoS miners don't really have anything to say.)

Wait, you have 100,000 TAG? That's going to make you 1500 TAG per year or 125 TAG per month.

I'll make double that with my 70 kh/s dual miner plugged into an office computer, running only from 9 AM to 5 PM, and I didn't have to buy 100,000 TAG to begin with. Anyone with the slowest GPU is going to make a lot more mining PoW blocks.

Unless those get orphaned.

PoS is really an acronym for another phrase that I won't mention anymore.

Whatever happens, good luck to us all.

I accept your explanation.

My apologies if my attempts to solve the identity of the mystery developer were off the mark.

I withdraw the question.

Hi Guys,

Just my two cents here. I had not realized things have gotten heated up this much over the last few days and weeks.  I have known mark for over 6 months now and I can say my take regarding him is that he  really tries to be nice even he has no reason to be. I think what he is suffering from is that he has taken a lot on and thus struggles for time and energy to respond to things that he considers not urgent.


I have read nearly every post here from day one and he has often requested for patience, yeah granted as previously stated he has not communicated effectively and as much as most of us would like, but I truly suspect he is doing a lot of things not just regarding Tag itself but life sometimes can keep you busy and thus slow to respond. I think Tag has a future and I have yet to sell any of my coins, hell I would love to get more, because the work behind the scenes to make it happen has not slowed down one bit as far as I can see.

Fuse you are pillar of this little tag community and letting your feelings known is part of building resilience and making sure we are all on the same page.  I wish I could buy you lot beers :-). A belated Happy new year Gents!!

@ Werneo - when I read that the developer of sbc was coming back to develop his coin, I figured I would buy some stablecoin and take advantage..as did a few others that got in early..so I did buy 500,000 at a third of a cent... I was also buying quite a few other coins as well..this was when I was planning to have a lot more crypto in tagcash. We were planning on running articles and working on promoting the ones we thought had promise, and sbc was more innocative than most so I helped out on posting some releases. I thought that sbc would do well, so I sold 200,000 on the rise at about 30c and kept the rest...I still hold 200k but kinda given up that it will rise. I also figured that I would be better off just concentrating on TAG..hence restricting of coins in tagcash to just TAG and BTC. It was easy to get excited about the rise of good coins, but the reality is a little different. In hindsight of course it looks like pump and dump..if it had continued to rise I would have sold more..no point in hoarding..but most alt coins have gone down..and I have just lost interest in anything but TAG and BTC.

Artos has never been involved with TAG, and he has never actually talked to me, this came through a third party...but obviously he did see me as a way to promote his own coin. When you are a coin developer you use whatever good publicity you can get hold of. That fact that I made money from buying and selling coins..and it was not only sbc..well..I think everyone wants to do that. But you will notice that I have not been involved  since those press releases were sent out. I was asked to help and I did..and I made some money too.. I hope thats not a crime these days. I certainly had no knowledge of where the coin would go..it's a shame because it seemed like a good coin.

So in short I had no plans to pump and dump other than to promote what I thought was a good coin. See if you can find ANY postings anywhere made by me to pump SBC...

Why dont you ask artos himself his position on the matter instead of accusing me? I have no idea what he is up to, but if he has lost interest in his own coin then that explains the drop in price.

I hope this explains it..and as always if you seek more clarification that you can talk to me on skype over a voice conversation...However, I suspect that you will follow your own wild suppositions and see conspiracy everywhere. Instead of 'musing all day' you should talk to me directly, instead of making assumptions. If you seek to cause problems, nothing I can do about that, although I hope most people will see this for what it is. Something this forum can do better without.

+1

I think this will be a turning point for TAG.

-Fuse

I have been watching this all unfold over the past few days.  I truly hope that this is a new starting point for tagcoin.  I started mining it months ago when the value was high, and I loved the concept of the coin and the whole business aspect of it.  I was seriously considering selling off all my tag after the recent community debacle, but after reading the last few posts, I will keep them and might start mining again when the waters settle.  Here's to hoping tag will rise once again and become the coin of the future!

post withdrawn

I've worked on multiple pos coins and worked on pools for numerous pos coins. and yes hazard is right there are more orphans. but a huge 200+ block chain being orphaned is not normal
@Hazard i'd have expected you to know better than that of all people.

A wise man once told me, "no one is infallible". 

We all do things that we regret at some point.  In some ways I regret saying the things I said yesterday.  In some ways I'm happy I said them... now things are on the table and we're working them out.

Let's make this a point in the history of TAG that we built upon, not buried.  I'm willing to work towards making things work for TAG as long as you're willing to work more with this community, which I think you're already on the path to doing now.

-Fuse

@Fuse - I already checked with a couple of coin devs, and they said the same thing. "PoS coins have these issues, so you can either chop the PoS or let the miners accept that it is part of the deal". Perhaps I should have pointed this out a while back, but I assumed everyone mining PoS knew that...

Of all the people making comments on here, I was disappointed to lose your trust the most. I know you have kept with us since the start...and you know I have offered TAG to replace your losses on the pool, something I can still do if you need it. However, if it means I have to chop PoS for you get into mining again, then I cannot do that. However, f you want me to set up a mining pool and have you run it, with me taking all the risks and costs, then I can do that as well. Perhaps the community would listen to you more than me..

There is more to TAG than just mining, and I would prefer to have people like you on board for the longer term goals.

And yes, I am not perfect..I need to learn to communicate better...just one of those things that for some of us, takes a while to get right..

Mate, you lost a lot of people's trust yesterday.  You can't just say things like you said here and expect it to not go the way it did.

I really felt like you were turning your back on this community, and me, after the work that a lot of people put into making Tagcoin desirable in this community.  I understand that TAG is more than just the coin... mate, that's why I backed it for so long.  But when this community backs that part of the operation while you're working on the main part, you can't make them feel like their part is insignificant and pointless.

As far as the comments from vesperwillow, others, and me.  That's the nature of this forum.  You let people wonder for too long and they start to formulate their own ideas.  You've made a few comments here and there, but you never address the orphan issue publicly.  People are upset about that.  I know not everyone is an expert in coin design or code.  So yes, we may just be throwing out crazy ideas... but you need to address them.  And not saying something like "no... that won't work".  Because that is what got us to this point in the first place.  People honestly think that you have ignored or totally disregarded what they've said about anything and everything.  That's why I recommended having someone talk in the forum.  It will only help you in the long run to keep communication open.

As far as your coin dev goes- at this point I don't care who he is.  He could be Artos, or hell even Hazard.  I don't care.  At this point though you need a community dev as well.  Someone who is able to give a second set of eyes to the code and make sure things are straight.  I'd highly recommend getting in contact with Ahmed_Bodi in this regard.  He might be able to lend a hand to the community development of the coin... even if that's just bug checking.

I'm sorry I said the things I said.  They were harsh.  I hope this can really turn around and just be a bump in the road.

-Fuse