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Topic: [ANN][EMC2] Einsteinium | FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY - page 405. (Read 1076396 times)

sr. member
Activity: 536
Merit: 252
You got my attention.
I like everything about this coin and will start mining it but could the dev give us an update on whats being done? Is the dev active?
How can we contribute other then buying, voting and mining?
Is there a plan?
Whats the next cause we can support?

If 50 million are already mined, at a rate of 380 sat, thats 190 BTC...where are these BTC? Bagholders?
If 2.5% is donated, that means the foundation only has 3.5 BTC to contribute to a cause...that is not much

These are just raw numbers off the top of my head, so I could be wrong in one or another

Anyway and as I said, I really like it would love to get involved

Cheers


Hey Architect,

It happy to see you finally came around. This coin is great, the community is great, the concept is great and we are poised to do great things in the name of science.

We have a very active dev team of about 8 members, located all around the world (UK, Romania, Canada, USA, Taiwan and Italy) working all day on our coin. Currently were working on a few wallet updates, one will be released very soon as well as a better looking blockchain explorer. There are other changes in the works but for now I cant mention any of them

As for supporting our coin, besides mining, buying and voting you can tell all your friends, create cool threads about us. Get more people interested and asking questions.

For supporting causes, the best way to do this now is to nominate your favorite project that you believe deserves our funding. This can be done here: http://einsteinium.org/submit-a-project/


The donation we made to our first winner Dr Watler Moss was for $1000 USD, while its not much it was half of his goal, for a coin of only 25 days old at the time I believe that's a great step in the right direction. We also ran a fundraiser where we raised over 300K EMC2 on top of the $1000 donation.

Bagholders... where are they indeed? I happen to know that the team members have bought a massive amount of coins. We all believe deeply in out motto "funding the future with the future of currency" and we are HODLing for the long run.

Hope this answered all your questions, If you have any more feel free to ask.


legendary
Activity: 1418
Merit: 1002
Here's an interesting read on X11, another algo to look at is Quark, which uses 9 rounds of hashing from 6 hashing functions, but includes 3 rounds of random hashing unlike X11 which is just stacking algos together in a linear function.

https://bitcointalksearch.org/topic/these-new-efficient-x11-algos-everyone-is-talking-about-bullshit-or-real-556277
sr. member
Activity: 536
Merit: 252
LOL, you sound just like someone I was talking to 3 minutes ago on poloniex.. Give me a second to finish what I was doing and I'll answer your questions. Smiley
full member
Activity: 142
Merit: 100
You got my attention.
I like everything about this coin and will start mining it but could the dev give us an update on whats being done? Is the dev active?
How can we contribute other then buying, voting and mining?
Is there a plan?
Whats the next cause we can support?

If 50 million are already mined, at a rate of 380 sat, thats 190 BTC...where are these BTC? Bagholders?
If 2.5% is donated, that means the foundation only has 3.5 BTC to contribute to a cause...that is not much

These are just raw numbers off the top of my head, so I could be wrong in one or another

Anyway and as I said, I really like it would love to get involved

Cheers
hero member
Activity: 540
Merit: 500
One upside to switching to x11 is that x11 is all the rage right now and x11 coins or any anti scrypt asic coins are gaining hype and value. Just by forking to x11 we could get a 5x or even bigger market cap.That would put emc2 even more on the radar. Something to think about. I know that we aren't as focused on price as other coins but bottom line is our donations get bigger. My opinion is that emc2 can get to 4k sats with a small amount of hype.

The only other question I have is can scrypt survive ASIC? Bitcoin did, but bitcoin was everyones end goal and honestly it still is. Is there even an alt out there that people with ASICs will see as more valuable than BTC? I don't even think litecoin is big enough. To me the question is will people stick with scrypt long enough for ASICs to strengthen it. BTC did. But BTC was always the endgoal.

Now if the devs really do have some ASICs coming to spread the hashrate and hold emc2 then thats a different story Smiley
sr. member
Activity: 574
Merit: 250
Why hasn't Poloniex added EMC2 logo to their main page yet?
Not sure but several of the coins listed there don't have icons such as HIRO

Hm, interesting.
sr. member
Activity: 536
Merit: 252
EMC2 is very popular now on Poloniex. That is how I got more interested in the coin. I did see it on the faucets a while back and hatched a few but am thinking to get more seriously involved in this coin as it has a big community of serious minded Coin enthusiasts.

I'm somewhat suprised the coin has gotten as large as it did. I remember during the launch things weren't looking so great but now I feel like the community has made it so strong.


Hey bud, What did you mean.. I though we had a great launch!
sr. member
Activity: 536
Merit: 252
EMC2 is very popular now on Poloniex. That is how I got more interested in the coin. I did see it on the faucets a while back and hatched a few but am thinking to get more seriously involved in this coin as it has a big community of serious minded Coin enthusiasts.

Thanks Qiwoman,

We sure are a proud community who always looks out for each other.

I hope you chose to get into our coin and wonderful community.

Talk to you soon.
full member
Activity: 144
Merit: 100
EMC2 is very popular now on Poloniex. That is how I got more interested in the coin. I did see it on the faucets a while back and hatched a few but am thinking to get more seriously involved in this coin as it has a big community of serious minded Coin enthusiasts.

I'm somewhat suprised the coin has gotten as large as it did. I remember during the launch things weren't looking so great but now I feel like the community has made it so strong.
legendary
Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
Why hasn't Poloniex added EMC2 logo to their main page yet?

Busoni promised me its on his to do list, I bust their chops daily to make it happen.. I'm on it!

But it pisses me off too a bit! Sad
sr. member
Activity: 294
Merit: 250
EMC2 is very popular now on Poloniex. That is how I got more interested in the coin. I did see it on the faucets a while back and hatched a few but am thinking to get more seriously involved in this coin as it has a big community of serious minded Coin enthusiasts.
sr. member
Activity: 252
Merit: 250
Why hasn't Poloniex added EMC2 logo to their main page yet?
Not sure but several of the coins listed there don't have icons such as HIRO
sr. member
Activity: 574
Merit: 250
Why hasn't Poloniex added EMC2 logo to their main page yet?
member
Activity: 112
Merit: 11
I think the best course of action is to stay on Scrypt but have a backup plan ready to be implemented.

This is the general attitude right now among our developers as well.
Not everybody can afford a $10k Rig, but the $10K rig might not come as soon as many people think, and there may be intermediate steps along the way that build up network hash rates.
Also our Devs did technically evaluate X11 in depth, including a great deal of testing, and before the litecoin team even posted they provided those of us who are on the foundation with similar input to what litecoin provided.
We have to be cautious because forking the coin in that way is a significant technical burden, but also presents significant risks.  
sr. member
Activity: 588
Merit: 250
I think the best course of action is to stay on Scrypt but have a backup plan ready to be implemented. This coin has more potential the usual clone of the week but I think it also requires  a careful approach as we are potentially dealing with serious people doing serious sciency stuff(tm) .
I don't know how much investment Scrypt hardware is for KNC et al, but from where I am sitting it seems significant. Scrypt seems to graduate to big boys league .
The miner with a few ATI card might object but that is the way things are and I believe it is a good thing (no to mention unavoidable). I don't know what Scrypt ASICs will do to the established coins like Litecoin, from my vantage point it is a bit like 1) step one 2) step two 3) profit?.
I do not believe though that people who possibly invest millions in hardware development only think of short term profits, which seems to be the popular idea around here, you know, miners never ROI, buying ASICs is a doomed enterprise etc. Then again, EMC2 is not an established coin like Litecoin, network-hash-wise, and a wilful or mischievous or simply bored miner with a few Titans can possibly utterly wreck this coin.  

Then we get to the other algorithms like X11 . I feel right now they are yet to stand the test of time. Litecoin devs were not too keen on it (see the thread on litecointalk). I've no technical expertise to judge if their opinion has merit or not, but I believe it is wise to listen to them nevertheless.
I am also getting progressively drunker and start loosing the guiding light here. So anyway, what was I talking about. Scrypt might be good, lets have the other coins beta test X11 etc and have a backup plan ready to go incase it looks like  Scrypt ASICs might go on a bloody rampage on this coin.

Oh, have devs looked a merged mining possibility?

In case this make zero sense or offends you, blame The Macallan, not me.
legendary
Activity: 1988
Merit: 1000
member
Activity: 112
Merit: 11
There is also an additional point...from an economic perspective in terms of problems, the issues with the larger scale scrypt ASICs would only rear their heads if they began to show un in the next few weeks on the network in the form of manufacturers mining farms, then switching the algo would make more sense. While this is a possibility with their delivery dates, it's unlikely. The more likely situation is a gradual increase over time, and the larger miners coming out in QIII.  What we are seeing now in terms of ASICs is gridseeds, which are pretty beneficial for everybody. Gridseed represents gradual asic introduction. Nobody is scared of their 5.4 M/hs blade likely to come out very soon either. Again, it's a good example of gradual ASIC adoption...which is fine.
The larger miners, such as Titan, are only problematic if it is suddenly introduced to the network in the next few weeks through large manufacturer driven mining farms. I think this is where the core fear of ASICs reside. However, if they begin to show up six months from now, it would likely benefit our network because of gradual growth elsewhere.

They are keeping X11 as an option in case the large scale ASIC farm is introduced to early, but ASICs after a couple of halvings and a gradual introduction can actually help the coin and secure the network. It is only when it is at the start of a coins lifecycle does it present a problem. Our early halving schedule is rather agressive though early on, two within a four month period. So our risk period is very limited. Even if X11 does get integrated, it is only with the expectation of delaying the introduction of larger ASICs, not eliminating them. X11 would be very easy to produce ASICs for if it popularizes, easier than scrypt was. Not to mention the potential botnet problem that X11 has.

We do want larger ASICs eventually, but there is only harm if they come to early, and there are benefits if they come down the line and gradually, big benefits. Two weeks from now it is a different scenario, but a highly unlikely scenario. It is likely though we will go through at least a couple of halvings before they even begin to show up.

These were long discussions with Development. I wish more people realized just how long an epoch is, and how agressive halving is in the first year. While I am more in favor of X11 (I am not dev though), my only issue with ASICs, is if the big ones come too suddenly in our lifecycle. I am increasingly skeptical about an early introduction happening.

Additionally, the next 3 months if you are a GPU miner will be the best time to mine no matter the direction. You are going to see the biggest rewards from it now anyway, after the first two halvings, it increasingly becomes fighting for scraps and waiting for wormholes, no matter the algorithm, coins become more rare quickly.

Remember, if there is a higher hashrate, it's a more secure network, the only problem comes if that hashrate is all in one place.
legendary
Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
sr. member
Activity: 266
Merit: 250
Okay deal with the kgw issue first, but lets not let the algo issue sit for too long. We cannot stick with scrypt.

Why not? You do realize that its possible one or more team members may have some serious hashing power on the way to secure the network Wink

 Smiley Smiley Smiley Smiley Smiley

I do!
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