Topic: ANN[gryF]$GRYF/GryfX Virtual Currency Options Market, NEW INFO MUST READ - page 5. (Read 37627 times)

right, a block explorer is needed before exchange =]

Yes, but for the popular exchange should be developed a web based block explorer.

I am just about ready for a real exchange now. 

Thank god! I can mine now with my low hashrate and earn some  
Block 14333

It's now sitting comfortably at 14094 with 19 MH/s @ 0.0987 Difficulty
The wave of hash has now subsided.  Definitely working on the difficulty readjustment.

Alright I see it just broke through and is now sitting at 13,441, Stefano is working on the difficulty adjustment issue right now.

Yes, it is. Hashharder and my wallet also on 13418.

and everyone else is stuck on block 13418 correct?

Alright guys, thanks for the input.  The block structure will be untouched and we'll have to solve the problem through the difficulty adjustment system.  I think this is good to get all the bad ideas out first so we can figure out the best way forward.

We definitely want GryfenCoin on some exchanges and I believe we're on track to doing so soon.  If you guys could help out in finding someone for the android wallet and the paper wallet that would always be appreciated

We're going to have another sale of coins and shares of interest but the delivery of the coins will be inside of gryfX - Options Market.  The user will have the option to purchase coins in a one time deal or set up recurring purchases & deliveries.

 The shares and coins will be priced in consideration of market & IPO prices of coins to avoid flooding worthless coins on the market.  Any coins purchased would have the value replaced with gold/silver/etc to further back the blockchain.  Share profits would go towards development and basic recurring costs(servers,etc).

Using our previous limited IPO we were able to create and launch GryfenCoin, I think with further iteration and involvement we can bring gryfX up and online.

On gryfX the only thing setting us back currently are a few bugs in some of the key math of the options calculations but nothing major.  There are no major features left to be added or some greater integration for version 1.0 just some dirty nasty bugs we're trying to iron out.

Come on guys, break up this POW block together on hashharder or anywhere do you want!

The distribution is fine.  Its been one of the most interesting coins to solo mine with one card for me.  but you know, it would be nice if I could trade them.

Sorry, I don't agree with you and your plan, because in this case the GRYFEN's unit value will be reduce that is very unfair for the miners who mined it from the beginning, like me, like Bagdar 13. I have mined ~200k in solo and in pool too with 245 hours investment of my 2 GPUs rig @ 3,7 mH/s. If you increase the reward by 10%, I will lost 10% value of them    And the IPO inverters also will lost 10%. Do you want this really?

I'm sure, the difficulty calculation system correction is enough to give possibility to the solo miners and to avoid the current situtation (no POW block from 2 days ago). For evidence, I could be solo mining below 100 MH/s netrate with the mentioned rig above.

So, you can see, you have to understand, the problem is the random difficulty system, not the amount and/or the block reward system. Some ppl. mined 50k block solo, some in a pool. Imho the current distribution is fair yet.

I could see DGW as being a cool implementation with some degree of randomness added to it.

I want to change the block reward up a bit to give solo miners that true chance of striking gold - giving it that environmental randomness.

Hi,

Imho, the reward stucture is good, doesn't need any changes. The problem is only the random difficulty system. It has to be modified to DGW, KGW, etc. Maybe a small randomization is accepted above the basic DGW/KGW/etc. system. For instance randomized it +/- 10-30 %. Any comment for my proposal?

Thanks for the input on the mining.  I was starting to have similar feelings and sentiments myself and it's good to see someone from the community point it out even clearer.  I want to change the block rewards structure myself.  I was thinking of increasing the 50k blocks and 5k blocks substantially so that solo miners could rule the day.

Stefano - the main dev- is looking into the randomness issue of the blocks - I've watched the network cruise at over 500MH/s the past day or two and it has gone up on the blocks but it has slowed down substantially.

Your feedback has been golden to the team; post your GRYF address or dm one of us and we'll give you a nice thanks

dude you have 300k coins?!!? sounds to me like you're doing fine.. maybe you should slow down a little 

Hey, not to bother because I know you are hard at work, but the mining could also use some work.  We have now been stuck on a difficulty 800 for about a day; is this because of the random difficulty as outlined in the white paper?  The network at current capability will “on average” not be able to solve this problem for about 4 days.  

I also have my fear that your random reward is not random and people are blasting the network with hash when the super blocks come up which is why we see the spike on the current block of 511 m/hash whereas for all previous blocks it is about 10.  Either that or some weird interpretation of the random difficulty reset but it was unclear if you actually implemented that.  Clearly the network is not at 511 m/hash because if it was that block would have been found in less than 2 hours.

I have left the wallet running on all six of my rigs because I think your project is cool.  I also syphoned a few gpus over to Gryfen, but since launch the hash rate has been on average ~10M hash and in total I have now mined “only” ~300K coins (about ½ of what hash-harder has).  You might want to consider a different reward scheme for mining because while mining does not need to initially profitable at some point down the line it needs to have a chance to be profitable or es.  Right now even if you got every block minted per day regardless of how much the price goes up it will never be profitable.  This will lead to a weak network as you will have no nodes.

Also, I assume you want this coin to be solo mined because if you have large random block reward but everyone pool mines then utility theory kicks in and the average payout as time approaches infinity is the same with or without variance in black size…unless of course you know when the blocks are coming and can manipulate your probability of getting a large one.

Awesome contribution, thanks for the mining pool!

I added it to the Blog announcement, plus I added a link to SGMiner for Windows - since that is a real easy to use program for mining on GPU's and such.

I also added Bounties to the announcement.  We're looking for an Android Wallet & a Paper Wallet and willing to give 1,000,000 GryfenCoin each.  PM me or the Baron for more details.

And we're working on the options market - it has been a process.  We have had to redo a few things due to security testing results but we're looking at about 1 week away from the release and you'll be able to purchase shares that will yield coins or have recurring coin deliveries set up inside of the application.  We have the mobile version of the interface done - I've just held off posting pictures because the Desktop version looked...bizarre... until last night when we brought it up to the standard.   Sorry for the delays on this.  I want to have something hit the market asap so I can start getting feedback but at the same time I don't want a scenario where everyone loses coins because of simple code bugs.

I found a 50k block on hashharder 

Gryfen    11295    08/Sep/2014 16:03:44 / 2 hour s ,23 minute s ,39 second s ago    49000 GRYF

Look forward to the arrival of the trading platform!