[ANN][2POW] Luck - A new consensus algorithm to eliminate large mining pools - page 10.

AllForOneA41

copper member

Activity: 145

Merit: 0

Quote from: cryptoneum on August 26, 2020, 10:25:33 AM

Quote from: Sherlock.Holmes on August 26, 2020, 02:10:52 AM

Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 50000 premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year

In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.

The purpose of this coin is anti-mining pools and to achieve that we need more nodes to join the network, and to for that you need to create more awareness of this project maybe by signature campaign but destroying those coins will not achieve anything.

And why there was no voting on this?

No voting because a loot of ppl say that best is burn em

cryptoneum

jr. member

Activity: 59

Merit: 3

Quote from: Sherlock.Holmes on August 26, 2020, 02:10:52 AM

Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 50000 premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year

In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.

The purpose of this coin is anti-mining pools and to achieve that we need more nodes to join the network, and to for that you need to create more awareness of this project maybe by signature campaign but destroying those coins will not achieve anything.

And why there was no voting on this?

hextobig

newbie

Activity: 29

Merit: 1

Quote from: Sherlock.Holmes on August 26, 2020, 02:10:52 AM

Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 50000 premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year

In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.

agree that.

x23a1s

full member

Activity: 171

Merit: 100

kiramine.com

Quote from: AllForOneA41 on August 26, 2020, 02:45:59 AM

Quote from: Sherlock.Holmes on August 26, 2020, 02:10:52 AM

Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 5W premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year

In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.

That are great news mate I agree at 100%

yeap i also think that this is a good decision

AllForOneA41

copper member

Activity: 145

Merit: 0

Quote from: Sherlock.Holmes on August 26, 2020, 02:10:52 AM

Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 5W premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year

In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.

That are great news mate I agree at 100%

MonsterV

legendary

Activity: 2212

Merit: 1008

Quote from: Sherlock.Holmes on August 26, 2020, 02:10:52 AM

Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 5W premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year

In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.

have you every disccus with your community if they are agreed to burn the premine? im my opinion its would be good to use premine in good way than burn it on dead wallet which no one can spend it, rewarding community based what their contribution is the good ways to distribute the premine, also regard signature bounty that i propose you on DMs, please can you take a look? i can help you to make it happend and spreads the premine to the community, that would be good options to have more holder due hard to mine.

Sherlock.Holmes

member

Activity: 141

Merit: 41

Hello everyone, after our careful analysis of your opinions and careful thinking, we finally decided to keep the 50000 premine, and the rest will be burned after 2 days.
The remaining premine will be used for:
26400 - Reward for two-year seed servers: 1100 * 12 * 2 = 26400
23600 - used for community incentives for the past year

In addition, our recent development plan is as follows:
1 android decentralized wallet - the development of basic functions has been completed, and it can be released after the test is completed.
2 Enable multi-core mining - in the early days, we suggest the miner to open multi-instance mining on multi-core machines, which brought complexity to the operation of miners. In response to the urgent request of the majority of miners, multi-core mining on multi-core machines will be supported, this feature is currently being scheduled.

stas333

newbie

Activity: 15

Merit: 0

Quote from: vjudeu on August 25, 2020, 01:26:07 PM

There is no need to burn anything. If the only problem is that developers can access premine instead of miners, it can be just moved to timelocked addresses that anyone can spent in the future. And if such coins should be accessible only by miners, it can be easily done by Miner Activated Soft Fork. However, such things probably will not be needed, because if something is sitting on address that anyone can spent, then literally anyone can spent it, including miners. And in such cases miners always will have an incentive to reject some user transaction spending these coins and mine their own transaction sending these coins to themselves.

To sum up: if the main problem is that a few developers hold a huge amount of coins now, it can be just send to many outputs with timelocks in the future, then it will not be possible to spend all of them now. If only timing matters, it can be sent to the same addresses, then just developers will spend it later. If it should be accessible by anyone, it can be sent to address that anyone can spent. If it is difficult or impossible to create such address, all that is needed is just using normal address and revealing its private key.

Everything you've written is a theory that doesn't have any basis for when, what and how it will be done. We are talking about full trust not only of miners, but also of future users of this coin. No one will use the services of the project on dubious promises that the premine will be honestly used or shared. We are now talking about the economic and political component of the project. The premine must be burned in several stages before the coin goes to the exchange. In addition, constant donations of 5% for developers should also be stopped at a certain block, after which all rewards should remain only for miners. Only in this way will the project inspire complete trust on the part of any users, if it is truly unique. All coins that had a premine or endless donations from mining, after entering the exchange, suffered a fiasco, as well as 99% of tokens with a preliminary ico.

vjudeu

hero member

Activity: 667

Merit: 1529

There is no need to burn anything. If the only problem is that developers can access premine instead of miners, it can be just moved to timelocked addresses that anyone can spent in the future. And if such coins should be accessible only by miners, it can be easily done by Miner Activated Soft Fork. However, such things probably will not be needed, because if something is sitting on address that anyone can spent, then literally anyone can spent it, including miners. And in such cases miners always will have an incentive to reject some user transaction spending these coins and mine their own transaction sending these coins to themselves.

To sum up: if the main problem is that a few developers hold a huge amount of coins now, it can be just send to many outputs with timelocks in the future, then it will not be possible to spend all of them now. If only timing matters, it can be sent to the same addresses, then just developers will spend it later. If it should be accessible by anyone, it can be sent to address that anyone can spent. If it is difficult or impossible to create such address, all that is needed is just using normal address and revealing its private key.

MonsterV

legendary

Activity: 2212

Merit: 1008

last day ive got about 3 luck by mining with my cpu, but today there is almost 24hrs since turn on my pc and no block are comming to my wallet, i wondering how much node already on space because i see on mining page some address get block very fast within a minute, dev do you have any idea to solved the problem? small miner like us who trying to mine this coin with 1 cpu is getting very difficults now, i feels like mining on a pools with less powers, so hard to getting block.

stas333

newbie

Activity: 15

Merit: 0

I think the premine needs to be burned in several stages. choose the day on which the burning of coins will occur, as well as the number. And if between the intervals of the burning stages, it will be necessary to give some kind of reward to the community member, or other costs, then the developers must explain for these transactions. I think that every week, for example on Friday, 20,000 coins should be burned. And until the entire premine is burned, the coin should not go to the exchange.
Any premine leads to depreciation and centralization. Anyone who knows that someone controls more than half of all mined coins will not trust this project. 300,000 premines is just a huge amount in which the reward itself is only 3 coins per minute, in addition, the developers have a constant income of 5% from mining, which should also stop at one of the blocks in a year or two. And I also said that if there are expenses for any activities, they must explain them and we must openly see what they are spent on. Therefore, the premine must be burned in several stages.

jslv587

newbie

Activity: 31

Merit: 0

今天一个都没挖到

vjudeu

hero member

Activity: 667

Merit: 1529

Quote

are there anybody using advanced machines for mining, such as GPU/graphics card/ASIC. It's too hard to mine now.

It is typical for many CPU-based coins. When some new coin is introduced, its amount in circulation is quite small and that is why the first coins have quite high price when entering some exchange for the first time. Later, when there are more and more coins in circulation, the price usually drops. It is hard to mine, because there are not many coins, but many new miners. Also, there are people having a lot of CPU's and mining a lot of CPU-based coins at the same time. So if an algorithm on this coin is the same as an algorithm on another coin, it can be merge mined, so you can mine two such coins at the same time and consume similar power as mining only one coin.

I think that few months later it will be easier to mine this coin, if it follows the same path as many other altcoins.

Quote

Can you please share what kind of machines you have?

One virtual machine using one core. For me, it is rather an experiment than something that can really became valuable coin in the future. I still think that winner-takes-all approach when mining blocks will finally cause pool pressure in the future. But maybe I am wrong and this coin will succeed? The time will reveal the truth, we can only mine new coins and experiment with the code trying to improve things.

wolfwolf

newbie

Activity: 21

Merit: 0

are there anybody using advanced machines for mining, such as GPU/graphics card/ASIC. It's too hard to mine now.
Can you please share what kind of machines you have?

AllForOneA41

copper member

Activity: 145

Merit: 0

Also I agree with burn If I can get payment for my seed nodes in advance I keep them because Im getting Payment in Luck for that

AllForOneA41

copper member

Activity: 145

Merit: 0

Quote from: othell_rogue on August 23, 2020, 12:59:26 PM

Looks like a lot of people are for the use of the coins instead of burning them.
But for the fairness of the proposal, I would suggest @Sherlock to make a poll, in this thread and invite all people from Discord and other communication channels to vote for it.

I think Voting should take a place on discord

othell_rogue

full member

Activity: 800

Merit: 143

Looks like a lot of people are for the use of the coins instead of burning them.
But for the fairness of the proposal, I would suggest @Sherlock to make a poll, in this thread and invite all people from Discord and other communication channels to vote for it.

AllForOneA41

copper member

Activity: 145

Merit: 0

Quote from: cryptoneum on August 23, 2020, 10:19:25 AM

Quote from: othell_rogue on August 22, 2020, 04:05:50 AM

Quote from: Sherlock.Holmes on August 22, 2020, 01:34:39 AM

How to use the remaining 298804-13200 = 285604, I want to hear your opinions, thank you
1 Direct destruction: The remaining tokens are directly transferred to 0x000000... address, this is the simplest and fairest way.
2 The community establishes reward rules, and the incentives who meet the conditions are certified by the community, then we are responsible for the distribution of incentives.

I don't agree with point 1 - to destroy the tokens. The tokens can be used to fund the development of the project. The fund can be used to pay services, team members, managers, marketers, etc. For example the services you mentioned above nodes, website, etc.

This is my personal opinion.

Cheers and good luck!

I agree with this plan.

I also Like that Idea a loot of peoples already working for Luck in discord

cryptoneum

jr. member

Activity: 59

Merit: 3

Quote from: othell_rogue on August 22, 2020, 04:05:50 AM

Quote from: Sherlock.Holmes on August 22, 2020, 01:34:39 AM

How to use the remaining 298804-13200 = 285604, I want to hear your opinions, thank you
1 Direct destruction: The remaining tokens are directly transferred to 0x000000... address, this is the simplest and fairest way.
2 The community establishes reward rules, and the incentives who meet the conditions are certified by the community, then we are responsible for the distribution of incentives.

I don't agree with point 1 - to destroy the tokens. The tokens can be used to fund the development of the project. The fund can be used to pay services, team members, managers, marketers, etc. For example the services you mentioned above nodes, website, etc.

This is my personal opinion.

Cheers and good luck!

I agree with this plan.

AllForOneA41

copper member

Activity: 145

Merit: 0

Sherlock, What You think about reward testnet miners? I'm not saying give big amounts of coins but for example, count testnet days period x cost of day mining and send to each miner Luck amount based on the current value to cover the cost of mining.

Topic: [ANN][2POW] Luck - A new consensus algorithm to eliminate large mining pools - page 10. (Read 6518 times)