Topic: [ANN][EMC2] Einsteinium | FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY - page 420. (Read 1076366 times)

Thanks for this important question.

ASAP does not mean: now.

Therefor asap includes thorough testing ensuring the fork is done right and of course a feasible timeframe for everyone to prepare.

Hello all. 

This is my first post related to EMC2, but I have been mining it for about a week now and reading through the main forum discussions, so I'm somewhat up to speed on the concerns being voiced about switching away from the scrypt algorithm.  From what I've read so far, it seems that the community is ready to jump to X11.  But what I haven't read, is a detailed technical argument by someone who really understands the difference between the various algorithms available.  Voting is a great way to build consensus and strengthen the community, but it does not always guarantee the best course of action is taken, particularly when the voters have a lack of detailed knowledge on the subject matter.  Let me say right now that I am no expert in the field of crytos or algorithms or computer science at all.  I am a control systems engineer by trade and a supporter of cryptos because I believe their integration into societies will help to create better environments than current monetary systems are providing for 99% of the worlds population.  That out of the way, I would like to suggest that this decision not be made in haste by the developers, and that the community discussing this switch understand and agree WHY the switch is being made before deciding WHAT to switch to.

From what I've read on the EMC2 forums thus far, it appears that almost everyone agrees that ASICs are bad news for the future of this coin and most scrypt coins in general.  I agree with this sentiment from both a miners perspective, and a 'historical' perspective.  That is, scrypt was an alternative algorithm to SHA-256 initially implemented to prevent (or at least resist) the ASIC generated potential of centralizing a blockchain network.  It goes without saying that blockchain networks must remain distributed to preserve the trust-less encryption protocol that is their genius.  The instant that a 51% condition arises, is the instant that a blockchain network becomes incapable of performing its primary function as a trust-less verification system.  Thus preventing a 51% condition via integration of ASICs into the network becomes the single most important reason to switch algorithms now that ASICs are on the horizon.  Thus to me it seems, whatever algorithm the developers decide to switch to, should be the one that is most resistant to ASICs.  If multiple algos have near identical ASIC resistivity, then and only then, should features such as power consumption be considered.

So the question then becomes, which algorithm is the most ASIC resistant?  And just as important, who is qualified to answer that question?  I don't feel comfortable voting on this topic because I have no idea what the answer is.  I could search around the internet and read article after article and become more informed, but then I'm dependent upon the authors presentation of the information, which may or may not be completely accurate.  I could read white papers by the developers of different algos, but when I tried reading the Bitcoin white paper, I had to skim it because I lack the vocabulary to understand the details presented.  I could invest some serious time and fully educate myself on encryption algorithms, why RAM is necessary and how its circumvented, and how it all relates to blockchains, but there's no need for me to do that when people with that knowledge already exist.  So the duty of the Einsteinium development team then becomes to seek out the experts on this subject and get first hand information so that they increase the likelihood of choosing the best course of action.  From my understanding, experts on this subject are very forthcoming with their knowledge, as evidenced by the plethora of open source code they release, and can be readily found drinking spiked punch at Bitcoin conventions and crypto Meet-ups.

I know it feels like time is pressing and a decision must be made now, but this coin has a purpose based in love and a strong supporting community, it will survive a few ASIC whales long enough to allow the necessary time to gather quality information and make an informed decision.

I'm happy to have found this coin and look forward to becoming a part of the community.

I agree. I don't even want this done ASAP (though I do want to see it done).
Take time so that everyone will know about it and it is done correctly.

A few things we would like to prepare people for if x11 happens.

This can take time, maybe longer than most people would like. Development is not like waving a magic wand, and hard forks such as this one take additional time and testing. In addition there is a time that is needed to communicate with everybody involved. miners, exchanges, pools, etc. As much as people say make this ASAP, there is a point to making sure this is done right and things go smoothly. We have great developers, but having great developers also means the community needs to have reasonable understanding that not all development is easy, and our developers have lives outside of crypto too.

Thank you wise man. Its great to have people like you around this thread.

Hi Ryan,

Thanks for the information. I was absent for one week and don't follow the thread properly. I'm glad that the devs think about us small miners so we can continue to support the coin. That's great.

AizenSou,

We care deeply about the concerns of our miners. As such we have been discussing thoroughly the prospect of switching over to the x11 algorithm. These discussions were started here (bitcointalk) from miners in the thread and have since been carried over into extensive conversation within the foundation.

An official announcement has not come from us regarding a change in algorithm (yet). That being said, please feel comfort in knowing that we will choose the best technology that suits our community best. If it were me, I would't be too worried about that Titan miner if you stick with Einsteinium.

Please let us know if you have any other questions or concerns.

Thanks!

- Ryan Wright

If you are going to support the coin, you need to follow this thread (as in read all posts) or you'll miss the important updates...   

https://bitcointalksearch.org/topic/m.5930993


-tb-

I know that promotion for the coin is a very important part, but why does the dev try to ignore the technical part of the coin??
KnCminer just upgrades the Titan miner from 100Mhs to 250Mhs. You know what that means for scrypt coins?

In next 2 months, the most of us, normal / small miners who supported the coin from the start will be leaved and raped by just one Titan miner. Who will still support this coin at that time?? You think the profit miner who purchase those monsters will support the coin by mining it even if it is no longer profitable

I still want to support this coin and still holding my 50k EMC2, but I don't think I can continue for long. To be honest I'm pretty sad that nobody in this thread cares about this.

The reddit page is ON FIRE! Get in on the action while the coins are still flowing!

http://www.reddit.com/r/einsteinium

Voting is also available for Atomic-trade.com

https://bitcointalksearch.org/topic/atomic-tradecom-new-coin-poll-vote-now-516934

Win some EMC2

Just add your friends to our FB group and get a chance to win the pot of EMC2 which currently stands at 2000 4000EMC2

https://www.facebook.com/groups/einsteiniumgroup/

Half will be from our personal coins and half will come from the 0.5% for marketing!

Nice to see bounties being put in place here. Where are you guys getting the funds tho? Your own personal stash? Good leadership

Hey bud, You need to post the address on reddit

DONE !
EVvQSsCR9tt5ARnXaQ3ff76u8KhcWd8WaW

Thank you !

Does Supasta like free coins?? I like free coins!

The Einsteinium Reddit page has been completely redesigned and is now ready for primetime! To get things rolling properly, we are giving the first 100 Redditors 100 EMC2! Just make a new post in our subreddit explaining why you love Einsteinium (along with your wallet code) and we will send you 100 EMC2!

What are you waiting for? GO POST NOW!

http://www.reddit.com/r/einsteinium