Topic: [ANN] Ʉ Umbrella | Insured Cryptocurrencies | BITTREX | Litecoin Insurance - page 30. (Read 145901 times)

Yes, once Doge converts to AuxPOW.  You can mine all 4 coins.

I've been mining Doge and ULTC together... you're saying that I will be able to mine LTC as well?

I've gotten a couple questions about Dogecoin moving to merge mining and what does this mean.

What this means to us is that you will soon be able to mine Umbrella-LTC, Dogecoin, and Pesetacoin all while mining Litecoin as the primary coin (participating pools).  As they will be adopting AuxPOW such as we have, their hope is that this will increase hash and better secure the network.

Good luck to them.

Not today, but very soon.

any chance this will be on another exchange soon?  like... today?

I mine at get me coins and it sucks, 33MH/s after 12hrs, get only 0.36LTC half what i should get if i mine LTC

i mine there too,+ get full hash

mining there the last day gives me with 9 mhash only 3700 dogecoins instead of 14000 i should have, merged mining works great, but i miss al lot of dogecoins a day

Indeed I am.
Contact me by PM. Probably, you need to switch to our dedicated ASIC server. Hashrate reporting can be misleading and might be caused by too many invalids. Just send me a PM or email me.

Cheers.

anyone know other merged mining pools?

if you say you are pool admin at givemecoins. i used it 2 days,but it caps 30% off the speed.why?
i have a 30mh miner,it alwas shows 20mh, and also mines less.
second is ,pls add more coins

Problem i see mate is not with your intent but with your vehicle. For this to work as you say then your Ʉ range of coins have to be highly successful to then be even remotely close to being able to have enough power to audit exchanges and force a standard.

I personally have mulled over at least 200 ideas on how to achieve this and i don't see how its possible with a clone of a coin dressed up to do what you say it should do because you are saying it should or thats what your re focused on

Mitigating risk i get that but then what? what happens when it has no relevance because a more focused solution is implemented by community consensus and that is where my concern is an critique comes from
we are going to need blockchains for just about everything but coins..not so much the world hardly understands the difference between cash and card let alone the nearly 500 coins to date

The problem is people are only interested in alts right now for profit. Mining profit, trade profit, and future profit. Its about having a unique idea at the time that serves only speculative markets.

The Ʉ is just meant to be short term but the block chain lasts for ever. I don't see these coins going anywhere. We learn't our lesson with the Dotcom bubble and its proving we have to go through it all again before we all feel yet another wave of pain and name this the altcoin epidemic. we don't need more coins we don't need a coin for lunch and one for dinner and one for Starbucks and one for McDonalds we just need aps built on the blockchains that drastically reduce overheads and eliviate people from doing shitty mundane jobs to doing stuff they really aspire to.

I don't hate you i just don't think it was very well surveyed. And the fact is it is a waste of mining time and server space in my eyes and that is my opinion but am i alone?

Have you approached any of the foundations/devs of  the coins you chose and proposed to merge mine directly off their chains because if you had of pitched it we would not be sitting in this thread talking about this here right now with 20 pages and no community desire to support it!

"When you can just fix and force stricter policy on the exchange issues" 

How do you propose we do this?  What is your grand solution for this problem that no one as been able to solve?  Half of the exchanges don't even have contact information.

We are much more than a safety net.  In order to reduce our risk (and yours) we audit the exchanges, perform pentests and eventually get proof of liabilities software installed at the exchange level.  We are already working with two.  We have reached out to over 30, what does that tell you?  This is no easy task but we are here to serve on multiple fronts because we believe we can make a difference. 

"Call it apathy but by the time Bitcoin is mainstream we wont be having such issues as we have had because we have learn't from them"

The problem with this statement is Bitcoin is not mainstream, not even close.  Until that day comes, we will find ways to mitigate risk.  At least those of us that want to survive will.  Does this include Umbrella Crypto's? Maybe, maybe not.

I don't understand why there isn't a ɄXPM proposed..its like you guys are all from x11 times completely forgetting about the Primecoin chain is just amateur at best. but i'm glad you haven't tried because imo this concept is pointless.

When you can just fix and force stricter policy on the exchange issues from the root and not offer things for the "in case an exchange takes all of your funds" because thats just bloody useless and is why there is little support for this concept.

It does not fix or solve anything. It just offers yet another security blanket for people. It will never be used nor should it even be considered. The problem is with trust and this concept does nothing to serve the real problems but only offers a safety net no one needs nor should want. (when you have a safety net no one can be bothered to fix the real issue!)

This coin will never be used as a financial instrument or crypto security, we learnt our lesson with cryptobullion and i guess you will also learn..eventually!
because it seems like you didn't do your homework..none of you!

Call it apathy but by the time Bitcoin is mainstream we wont be having such issues as we have had because we have learn't from them(You do not learn form things by setting up safety nets to catch incompetents). When crypto is mainstream it wont need saftey nets like this and anyone thinking it should have one needs to find out if they should be re-reading the whitepaper on bitcoin and or finding a better source of information regarding the real ideology that is Bitcoin and its related spinoffs

Goodluck to you but i see it as perfect tallent, resource and mining equipment/serverspace wasted

Merged mining is a "feature" some coins allow. This means the pool can use the same share sent by a miner, and test it as a solution for the main coin (in this case LTC) and the "merged" ones (umbrella and ptc). From the miner standpoint, it's a win-win. More coins generated (LTC+umbrella+ptc) and obviously more profit.

As a pool admin at Give-Me-COINS.com I would like to thank the umbrella team for their support in giving us all the tools needed so we could have this working almost at launch time. We look forward in adding the next umbrella versions for other coins.

Cheers.
 

tnx for the detailed answer:)O

Yes that is correct. If you are mining on a stand alone pool just for uLTC at 25 MH you would yield the same amount as if you were merged mining uLTC on a LTC pool. The benefit of merged mining is you get the LTC, uLTC and Pesetacoin all for that same 25 MH.. basically 3 for 1 Same as in namecoin,,, which merge mines under BTC only. You never see any stand alone namecoin pools, as its only obtained while mining BTC, as it only makes sense to do it that way. Why not reap the benefits of extra coins for the same hash. You can mine stand alone if a pool exist just for a merged type coin but there is no real upside to it. Rarely will you see a stand alone pool for any merged type coin once Merged mining pools are set up and become available after a coin is launched. ok, hope this helps and has been my understanding since namecoin was presented under BTC mining. Eventually stand alone pools either drop the coin or set up that coin for merged mining if they want to continue to host coin, as its a win win for them and the miner 

Plus do not confuse Merged mining with Multipool Mining.

As far as give-me-coins, to my knowledge no.  You mine LTC but also get Umbrella-LTC.  Same hash for both coins.

You can also mine at one of the pools I linked.  At that pool you can mine only Umbrella-LTC.

tnx for link,but would be nice if you or someone could answer my questions,in a simple language,since i dont understand much technicaly.