Topic: 🤖[ANN][BIS]Bismuth 2.0 - Beyond DeFi - page 63. (Read 156348 times)

Hybrid is not a precise term, there would be two chains, running independently - one with metrics (PoS) and one with BIS (PoW)

More than excited!
I am waiting for your paper documents about Bismuth masternodes set up procedure.
Will we have hybrid network, which run simultaneously PoW and PoS, or only PoS after MN activated in the Bismuth network?
And testing procedure should be implemented as careful as possible to find out as many bugs as possible and fix them completely in order to make sure that Bismuth network will be healthy after upgraded.
Thanks for all your information in the future.

This project Bismuth is holding not too bad comparing to other also good projects. Hopefully Bismuth will outperform the market.

see you on the moon

i just heard this MN news, awesome stuff!!!

see you on the moon, no wait mars, no wait uranus, no wait andromeda!

Thanks for the update

Thank you for detailing on this.
It is always exciting to know such things in detail.
Surely its early stage and i am ready to wait for this to take shape.

To clarify the MN approach:

- MN will still need Bis collateral and rewards will be paid in BIS
- A technical paper with strategy and details will come later, it's too soon right now
- A PoS chain, as a second level, will allow MN to reach consensus independently from the Bis PoW chain.
- Nothing will change for Bis, Users or miners. Bis and balances will stay on PoW chain.
- The two levels operating on two different strategies allow to highly strengthen and secure the network, since an attack would have to forge 2 chains with very different triggers.

So the MN implementation will not just be a "ping" test like on some coins, but would embed, from the start, innovative and secure algorithms.
All this is being evaluated, coded, documented, tested by the team.

"Total supply" from coinmarketcap are the coins in existence (mined coins + dev reward fund (which is locked)) at this moment.
Most welcome!

Looking for more details about below tweet from BismuthDev tweet handle:
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Masternode layer is now planned to run on an independent PoS chain, rewards to be paid in standard BIS. New features in consideration: ecdsa, byte-level operations, blake2b, operational database column. Nothing final yet.
======

Could you please dumb it down and take some time to explain, what this change is, what is thought behind it. Also, what will be this PoS independent change and if it will not be linked to the main chain, will we will have the same BIS coin on both chains? How will two independent chains work or PoW will end when PoS starts?
Also, these new features will come to which chain, what each change will bring value to BIS.

Thank you for a detailed, balanced response. I can say that yes latest miner code improved hash by 10-15% on AMD.
And I also know you have been very active and actively contributing.
Thats true that it all matters is how much miners earn.
Also I agree that kind of facility you give attached with a cost and valuable time.
I think I am ok with level of effort you are putting in provide a good service and also contributing in development of project.

Since your number of coins will not change much, so I expect when BIS cross $20-$30, you would consider lowering fee.

I am aware it is not a big supply, was just wondering whether it was a CMC bug or the real specs of the coins.

At that rate it is not a big deal at all.

thanks!

110M is not "so big", there are many coins with billions in circulation, when you have a low supply the price will bounce very hard as price and also decentralization will be a weak point when you have a low supply coin. We think 110M is a sweet spot supply for any project out there.

The difference is the total coins that will ever exist including the dev rewards and the max supply are the coins that can ever be mined.

Anyway this will happen in a very long time as the block reward is decreasing linearly over time from 15 to 0 in 10M blocks which at the current rate of 1 block every minute is ~19 years.

Hi,

Owner of EggPool Here.
I'm not used to talk or watch over here, but you'll find me at bismuth's slack and discord.

Since I see some questions about the pool fees, let me give some perspective on the why.

When I launched the pool and the gpu miner, Bismuth was being raped by a few private solo gpu miners.
I spent a month coding a pool and miner from scratch. really from scratch, all of it.
It's not some clone like other coins, where you drop some files on a vps and use an existing miner.
All is custom, from scratch.

Why such fees?
- because I'm dedicated 24/7 to this project, Bismuth and Eggpool
- because the fees cover the pool, but also the miner. It could be 5% pool + 5% miner fees.
- I do a spent a huge amount of time supporting users. Join slack or discord, you'll have answers. You won't have to run after me for days.
- superior infrastructure: it's not some cheap vps. I do run several Bismuth nodes, supporting the net with stable nodes, and I have designed a distributed pool architecture, with a central dashboard. I operate from several dedicated servers, in different parts of the world. A pool can crash or be under maintenance, you continue to mine. Check for historical pool downtime, you won't find. I did plan for long term reliable operations, not some quick cash.
- R&D. Lots of R&D goes into the miner. It's far superior to the open source solo miner. Lately, I sold some bis, I have to admit, so I could buy a 1080Ti for tuning purposes. Before that I bought an AMD Gpu so I could do specific optis for AMDs.
- Look, last update of the miner alone gave the miners +15 to +20% more hashrate. So, even with the 10% fees deducted, miners still get 5% more!!!!

I could have lowered to 5% fees, let the miner as it was, and everyone would have lost.
I'm really trying my best, both for bismuth - not all pools or solo miners are dev team friendly - and you miners: support and updating miner, reliable distributed pool, so everyone can win more. I don't do this as a side project, I'm heavily involved.

Don't look at what fees I "take", it's of no use: you do have the choice to pick another pool or mine solo, or dev your own pool and miner. I did it, you can too!
(See, I even help wanna be bismuth pools for the technical side)
If you mine on Egg, it's because you get more (even with the fees deducted) than you would the other way.

In the end, YOU get more. Isn't that what counts?

And moreover, you're supporting a dev friendly pool, that helps and stabilize the bismuth network long term.

If I dropped my fees today, that would only mean less support, less dev, a higher netdiff maybe, and a few more coins dumped by the miners. Would that really help?

Why is the max supply of BIS so big? 110M
Is the the difference between max and total burned coins or is BIS really going to have  110M supply?

Couple of discussion going on here and I would like to share my views for that:

Pool Fee: 10% was ok when miners were getting $60 a day, but then also they were making $5000 a day, if i correctly recall, now since miner profits decreased significantly, same went for pool owners also, but in may be i agree to bring pool fee around 5%, because the kind of early money they would have got, should have covered their initial cost and reward and now, it would require reward for future development and running cost, which i think 5% fee would cover, if not, pool owners can tell everyone what they plan for that fee and i will be happy to support them with 10% fee if they propose a value additional for that to project.

Signature Campaign : I think by now, most serious crypto people know what BIS is, so may be when we get some big update and what more people to get attracted, signature campaign would make sense, but till then i wont see purpose for this.

So questions I have is, I want to know what project stages Dev team is targeting in coming months, I know RPC and masternode are in making, but if we can have a structured way to see what is coming and when we can expect that, that would get everyone some clarity in terms of where we are heading.

Also, there is huge pool of open source Python developers, and not sure what steps have been taken to attract that pool of talent. That would be of immense help and huge factor in long term success.

Also, Bittrex invited good POW projects to apply and I am not sure if we have done that or not, I know some other projects have done that and shared that to their community. Not sure if we have not done that or not shared that or if i did not see that update.

I don't agree with that it just attracts tons of "specialized" bounty posters that pollute the forum with bs posts and don't add any real value also they will dump the coins the second after they receive them so they wont help with distribution.
Some attractive bounty banners would be nice to have though for those of us that are willing to show our support for BISMUTH because we allready own some.
Alot of these options to market with your own coins have been overrun with profiteers that add no value.
I would rather donate to a fund thats created by the Devs for Bis/Btc or Eth but Buy actual advertisements or other real marketing then to just dump a bunch of Bis on 100rds of bitcointalk shill accounts.


Ps I still dont like the wallet seeing all these upgrades it still doesnt work as i would like it to.

1. i can only run legacy gui the rest just hangs.
2. the words still dont Fit in the boxes just looks very sloppy , there must be some way to detect the users resolution and auto adjust.

That having been said i really like this project else i wouldnt be spending my time here and be giving suggestions.

Incorrect. Signature campaigns do nothing but attract bottom feeding bounty scrubs who then take over the thread whining that they haven't received their 15 cents pay from the dev. BIS needs real marketing, not signature scrub marketing on shitcointalk.

I believe that signature campaign will help to increase Bismuth liquidity generally.