Topic: [ANN][GRA] Graincoin - New PoW/PoS coin | Fast, secure | Version 1.5 Released! - page 91. (Read 177070 times)

Do we? Surely a smaller steady hashrate means there's a higher distribution of overall grains, than if some big hashers came in and started reaping the harvests? That's what would happen if this hit an exchange. I think heavily promoting grain could make it a victim of its own success. Get more people mining it yes, but as soon as it hits an exchange it will be pumped and dumped and seriously devalued once the hashrate drops back down.

I guess it would mean cheap grain for everyone if they wanted to buy it, but that seems to defeat the point. If it takes me a week to mine 100k grain, but then I could just buy it for a mere 0.001 BTC, then what possible incentive do I have to keep mining it? I could buy 10 million for 0.1 BTC. The coin would be as good as dead. Just like all the other highly inflated coins.

The only way to defeat the inflation is through higher distribution, and you're not going to get that by putting this on an exchange in the near future. It seems like a logical fallacy and contradictory to what this coin is trying to achieve. Long term sustainability.

Just look at what happened to ColossusCoin. I admit this coin has a lot more going for it than that copyclone, but the principle is exactly the same. Who wants to mine a coin you can buy for at a satoshi each, when you could mine more profitable coins and just buy them instead?

That's the kind of thing you'd want to do halfway through the total supply of coins, or at least to a point where the supply is becoming more scarce. Once there's no incentive to mine and no possible profit forseeable over the horizon, people will give up and move on just like every other coin. I hope that grain learns from other altcoins and doesn't follow the same path. If this hits the exchange at a Satoshi then there would be absolutely no reason for me to mine it anymore. I could buy 10 million, and sit on it like everyone else would.

The market cap would be flat and near-zero.

It looks like the pos generation is somehow blocked, so since block 62236 (block 62235 is the last PoS block generated - as mkimid correctly pointed out), only pow block generated.

The PoW blocks generated since followed exactly the target block time:

Block 80128: Jan 7, 19:30:56
Block 63000:  Jan 1, 14:32

17128 PoW blocks generated in about 6 days 5 hrs. Theoretical generated blocks =  6*2880 + 5 * 120 = 17880 blocks.

I am still investigating the reasons why PoS blocked. It is weird that this coin changes from PoW/PoS->PoS->PoW/PoS->PoW. Unfortunately all the basic code are from PPCoin/NovaCoin, and only some params have been changed. So the behavior is weird. Maybe keeping it as a pow is OK, at least all the mining is fine with predefined intervals. With PoS the PoW intervals will be altered depending on how frequently the PoS will be generated.

Anyway I am trying to find the cause of it, and will let you know my findings.

Ok so I found http://gra.livechains.net/ to mine at, but now I am wondering why there are not confirms at all?
Any idea? Anyone?

From the OP;


It will show up under "Stake:" in your wallet, I believe.

Post your conf file settings and CGiner config.

I don't really use CGminer much because I have an Nvidea card, but maybe this will help;

my conf file would look like this;


Your username doesn't need to be a wallet address either. It just needs to listen to your local IP.

cgminer.exe –scrypt -I 11 -s 1 –expiry 1 –queue 0 -g 1 -o 127.0.0.1:11109 -u user -p pass

listen=1
daemon=1
server=1
rpcconnect=127.0.0.1
rpcuser=user
rpcpassword=pass
rpcport=11109
addnode=90.24.148.40
addnode=79.132.116.131
addnode=77.247.182.246
addnode=87.228.72.73
addnode=86.177.174.213
addnode=90.24.148.40
addnode=79.132.116.131
addnode=77.247.182.246
addnode=24.61.235.251
addnode=188.190.138.46
addnode=60.185.43.164
addnode=86.177.174.213
addnode=95.85.26.11
addnode=37.147.229.171
addnode=24.115.95.58
addnode=94.36.249.63
addnode=84.202.182.12
addnode=212.21.27.144
addnode=178.216.122.243
addnode=83.37.239.174
addnode=5.165.67.45
addnode=119.237.178.52

I've been mining them off and on for a week or so.

Can anyone tell me when I will notice the interest / proof of stake thing kick in?

Will I see something in the wallet that will show me?

Grain also provides 5% annual interest on the grained held. The interest will be paid about every 2 weeks.

Well, promoting the coin is still a good idea. But promoting it to be mined, rather than to be on an exchange. The more smaller miners we have, the more distributed the grain and the better the market place will be. It's not about getting as much hashpower as possible, it's about getting as much hashpower from as many individual miners as possible, because the wider the distribution the more competitive and balanced the market will be. The problem with multipools and coin profitability is that it's a race to the bottom to sell it for the cheapest price to the lowest bidder.

Real world Grain is a commodity that is traded based on supply and demand, and it is not a resource that you hoard and dump. You sell it based on market demand.

So one of the ways Grain could differ from other altcoins is by mimicking its real-world counterpart and creating a supply and demand chain. For that you need services. Not exchanges.

What if the developers created a service where Grain could be exchanged for a purely Proof Of Stake currency? So an un-mineable currency where, via proof of burn, or by also holding grain and selling it back for Crop, you can exchange them. So, you could exchange grain for a crop. Crop itself would have a lower overall total compared to Grain, but a higher grain yield as it's POS percentage. This would encourage trading within the currency, depending on the rates. So sometimes it may be profitable to sell Grain for Crop, and vice versa. Crop yield could be decided on by the total hashpower of grain, or some other variable to regulate the market.

It's just an idea, but you can easily create a self-sustaining and expanding market without crashing it by being able indirectly through BTC convert it into fiat.

The basic principle, I agree with Nullu completely,

But, I want to concern about the number of miner,
From my small research, the number of miner is not more 100 miners a day,
(forkpool : ~ 60, livechain poo : ~20 and it is reducing by time, solo miner ~10)
and, I pretty sure, not more than 200 miners are keeping their coin,
this number will be reducing by time,
because of some miner give up, leave, and forget this coin.

and I do not agree this coin is going to the market yet,
Not matured yet,
Need more time to contact with the natural air (till next spring ? ^^)

I think, popularity is a important factor for the future of coin.

How make more people own this coin, or want to own this coin ?
and, How make more miner join in mining ?

Unfotunately, most of miner want to get a gain via their investments (time, electric, and hardware cost).
Some, miner can wait, but, the most of miner can not stay,
because of they do not like an uncertainly,

Anyway, it is a big question, and, maybe need an idea,

Do we? Surely a smaller steady hashrate means there's a higher distribution of overall grains, than if some big hashers came in and started reaping the harvests? That's what would happen if this hit an exchange. I think heavily promoting grain could make it a victim of its own success. Get more people mining it yes, but as soon as it hits an exchange it will be pumped and dumped and seriously devalued once the hashrate drops back down.

I guess it would mean cheap grain for everyone if they wanted to buy it, but that seems to defeat the point. If it takes me a week to mine 100k grain, but then I could just buy it for a mere 0.001 BTC, then what possible incentive do I have to keep mining it? I could buy 10 million for 0.1 BTC. The coin would be as good as dead. Just like all the other highly inflated coins.

The only way to defeat the inflation is through higher distribution, and you're not going to get that by putting this on an exchange in the near future. It seems like a logical fallacy and contradictory to what this coin is trying to achieve. Long term sustainability.

Just look at what happened to ColossusCoin. I admit this coin has a lot more going for it than that copyclone, but the principle is exactly the same. Who wants to mine a coin you can buy for at a satoshi each, when you could mine more profitable coins and just buy them instead?

That's the kind of thing you'd want to do halfway through the total supply of coins, or at least to a point where the supply is becoming more scarce. Once there's no incentive to mine and no possible profit forseeable over the horizon, people will give up and move on just like every other coin. I hope that grain learns from other altcoins and doesn't follow the same path. If this hits the exchange at a Satoshi then there would be absolutely no reason for me to mine it anymore. I could buy 10 million, and sit on it like everyone else would.

The market cap would be flat and near-zero.