Just 'scored' my first 8 AID block solo mining!!!
When the POS difficulty rises, they could become lucky blocks!
Topic: [ANN][AID] AidBit | Digital-currency redefined | POW/POS | Groestl | Charity - page 20. (Read 101130 times)
August 04, 2014, 03:55:17 AM
Just 'scored' my first 8 AID block solo mining!!!
When the POS difficulty rises, they could become lucky blocks!
August 04, 2014, 03:21:28 AM
Just 'scored' my first 8 AID block solo mining!!!
August 03, 2014, 09:22:58 PM
Still no individual worker stats in your pools? Are payments processed normally?
Normal
August 03, 2014, 07:05:55 PM
My personal opinion is that we should implement the exchange/wallet before trying to push for the red carpet to be rolled out. The more conveniences we have incorporated into the coin the better chance we will have at being accepted by cryptsy and many other exchanges. Have all our ducks in a row so to speak so we can do all the humanitarian things we want to do without distractions from major technical developments. Would it be a set back to do this?
“You never change things by fighting the existing reality.
To change something, build a new model that makes the existing model obsolete.”
― R. Buckminster Fuller
“You never change things by fighting the existing reality.
To change something, build a new model that makes the existing model obsolete.”
― R. Buckminster Fuller
August 03, 2014, 05:30:14 PM
in the crypto world if you have a supply in the billions your relegated to the satoshi 'bargain bin'.
This^
And also, a single coin is just what a wallet reads the amount as. A single AidBit could be 1000 of the current coins.
August 03, 2014, 01:50:54 PM
August 03, 2014, 12:53:47 PM
Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.
in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.
You can extrapolate and hypothesize to get a general idea.
Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea.
Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable.
And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units.
I wouldn't worry too much about the numbers - it's the base product that counts!
I couldn't say it better my self. Thank you!
I think, with that, you just did!
Nice to have confirmation that my "numbers" are more or less on track (not to mention the same on what's really fundamental for long term success) - I know you guys have this studied way better than I do.
Oh, and, my pleasure.
August 03, 2014, 12:37:27 PM
in the crypto world if you have a supply in the billions your relegated to the satoshi 'bargain bin'.
August 03, 2014, 11:51:20 AM
Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.
in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.
You can extrapolate and hypothesize to get a general idea.
Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea.
Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable.
And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units.
I wouldn't worry too much about the numbers - it's the base product that counts!
I couldn't say it better my self. Thank you!
August 03, 2014, 11:41:38 AM
Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.
in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.
You can extrapolate and hypothesize to get a general idea.
Let's say that ALL the current groestl hash decides to come to AID. That would be about 10 times the current average network hashrate, which would give us about 10 times the total average daily payout. That would still be less than 1 billion a year (the reward is halved after that first incredible year). Take a look at the price of coins with 21 billion, or even 100 billion 'eventual' (some with inflation thereafter) and you'd be getting a general comparative idea.
Take into account the yearly halvings, and the outrageous hashing numbers necessary to get to the 100 billion equivalent, and I think it's safe to say that it would be very unlikely that AID would ever get close to that. On the other hand, a 21 billion number is more feasable.
And remember, last I checked, USD money supply was around 11 TRILLION. That would be valued in $1 individual units.
I wouldn't worry too much about the numbers - it's the base product that counts!
August 03, 2014, 11:39:36 AM
Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.
in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.
There's nothing that brings the value down more than unstable network. We had to fix that first, before continuing with anything else. We will put the rewards schedule on our top priorities list, although in our case it'll be more prediction/estimation than schedule.
August 03, 2014, 11:30:41 AM
Thank you for your straight forward answer. I'm glad that your keeping it in mind for people like myself. Did you mean to say decentralized distributed trading platform? That would surely make it convenient for people to trade and mine all through their wallet. I look forward to it.
Sorry, typo corrected.
August 03, 2014, 11:11:49 AM
Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin.
in my opinion the rewards schedule, or lack of one, does more to lower the value than any amount of interest does.
August 03, 2014, 10:54:38 AM
Quick 24 Hour Stats Update (Block Explorer, period ending 2014-08-03 11:32:00 UTC)
Average diff = 20,87701891 (sgminer average diff = 21,25588412)
Average Network Hashrate = 1,630 GH/s
Total Gross Payout = 265,330
Total Net Payout = 228,183
Average Gross Reward = 160,12673506
Average Net Reward = 137,70899215
--------------------------o--------------------------
And I've come up with these shorthand formulas that are as accurate as anything I've been able to come up with
(they're almost never right on the dot – almost always just a hair above OR a hair below real eventual payout).
Next Reward Quick Calculator = 7.67 * diff
Network Hashrate Quick Calculator = 78,07 * diff
August 03, 2014, 08:05:11 AM
I saw that other altcoins are being created with the same ideas. We have competition...hardcore competition. This one called hyperstake pays 750% interest on all saved coins. Its experimental and only x11 so not as efficient as groestl but the idea of encouraging saving is becoming more prevalent. I understand what your saying about having the freedom to do what ever you want with your money. What I'm saying is that some people actually want to make more interest on their money by putting it into those types of unspendable long term accounts. In other words I like the freedom to choose from different savings options. It adds diversity to the types of users you would attract. So right now the base POS system begins to mature after 7 days for up to 2 years at 20% interest and can be sold at any time during the maturation process. What I'm proposing is not to change what you already have but to add the option to make the account unspendable for the same amount of time with say 60% interest? and possibly in the future 4 years and 8 years options. I understand from a dev point of view this just sounds like more work but from a consumer point of view its exciting.
Actually I get your point, but when we were selecting the percentages, we wanted to stay as down to earth as possible. Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin. For the time being we will direct all our energy into marketing and trading and then slowly begin with humanitarian projects. Don't get me wrong, your idea is good but if we want to succeed we need to stay focused on our main goals. There will be plenty of time to improve and expand and believe me when I say, we will. Actually one of the ideas - built in centralized trading platform - would also be perfect place for the introduction of long-term deposits.
Thank you,
AidBit
Thank you for your straight forward answer. I'm glad that your keeping it in mind for people like myself. Did you mean to say decentralized distributed trading platform? That would surely make it convenient for people to trade and mine all through their wallet. I look forward to it.
August 03, 2014, 06:53:54 AM
I saw that other altcoins are being created with the same ideas. We have competition...hardcore competition. This one called hyperstake pays 750% interest on all saved coins. Its experimental and only x11 so not as efficient as groestl but the idea of encouraging saving is becoming more prevalent. I understand what your saying about having the freedom to do what ever you want with your money. What I'm saying is that some people actually want to make more interest on their money by putting it into those types of unspendable long term accounts. In other words I like the freedom to choose from different savings options. It adds diversity to the types of users you would attract. So right now the base POS system begins to mature after 7 days for up to 2 years at 20% interest and can be sold at any time during the maturation process. What I'm proposing is not to change what you already have but to add the option to make the account unspendable for the same amount of time with say 60% interest? and possibly in the future 4 years and 8 years options. I understand from a dev point of view this just sounds like more work but from a consumer point of view its exciting.
Actually I get your point, but when we were selecting the percentages, we wanted to stay as down to earth as possible. Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin. For the time being we will direct all our energy into marketing and trading and then slowly begin with humanitarian projects. Don't get me wrong, your idea is good but if we want to succeed we need to stay focused on our main goals. There will be plenty of time to improve and expand and believe me when I say, we will. Actually one of the ideas - built in centralized trading platform - would also be perfect place for the introduction of long-term deposits.
Thank you,
AidBit
NICE
August 03, 2014, 03:42:49 AM
I saw that other altcoins are being created with the same ideas. We have competition...hardcore competition. This one called hyperstake pays 750% interest on all saved coins. Its experimental and only x11 so not as efficient as groestl but the idea of encouraging saving is becoming more prevalent. I understand what your saying about having the freedom to do what ever you want with your money. What I'm saying is that some people actually want to make more interest on their money by putting it into those types of unspendable long term accounts. In other words I like the freedom to choose from different savings options. It adds diversity to the types of users you would attract. So right now the base POS system begins to mature after 7 days for up to 2 years at 20% interest and can be sold at any time during the maturation process. What I'm proposing is not to change what you already have but to add the option to make the account unspendable for the same amount of time with say 60% interest? and possibly in the future 4 years and 8 years options. I understand from a dev point of view this just sounds like more work but from a consumer point of view its exciting.
Actually I get your point, but when we were selecting the percentages, we wanted to stay as down to earth as possible. Basically we could've written any number to attract the audience, but realistically we would've just introduced (pick a number)% inflation and lower the value of the coin. For the time being we will direct all our energy into marketing and trading and then slowly begin with humanitarian projects. Don't get me wrong, your idea is good but if we want to succeed we need to stay focused on our main goals. There will be plenty of time to improve and expand and believe me when I say, we will. Actually one of the ideas - built in decentralized trading platform - would also be perfect place for the introduction of long-term deposits.
Thank you,
AidBit
August 03, 2014, 02:49:17 AM
there are so many forks,and you want it go to plantform of "C",
I think if the support of "C" is stupied ,you can have a success. if not,so,you will a pig!!!
a very good coin have a very stupied dev
n
waste my time and money!
you have many different wallets,but the last wallet is still not working!!!!
what can isay ?
what can you say?
I think if the support of "C" is stupied ,you can have a success. if not,so,you will a pig!!!
a very good coin have a very stupied dev
n
waste my time and money!
you have many different wallets,but the last wallet is still not working!!!!
what can isay ?
what can you say?
There are no forks whatsoever. The latest wallet works great. Regarding the trading platform, we are open to suggestions but prefer exchange to Fiat on the same platform.
Please stop trolling.
AidBit
August 03, 2014, 02:35:53 AM
there are so many forks,and you want it go to plantform of "C",
I think if the support of "C" is stupied ,you can have a success. if not,so,you will a pig!!!
a very good coin have a very stupied dev
n
waste my time and money!
you have many different wallets,but the last wallet is still not working!!!!
what can isay ?
what can you say?
I think if the support of "C" is stupied ,you can have a success. if not,so,you will a pig!!!
a very good coin have a very stupied dev
n
waste my time and money!
you have many different wallets,but the last wallet is still not working!!!!
what can isay ?
what can you say?
August 03, 2014, 01:42:32 AM
Good morning. Just a quick info: Windows installer now features on demand download of the blockchain, which makes AidBit Setup executable much smaller.
Cheers,
V.
Cheers,
V.
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