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Topic: [ANN][MAX] MAXcoin - PoW, ASIC Resistance, Keccak GPU Mining - page 518. (Read 914218 times)

hero member
Activity: 840
Merit: 509
I know absolutely nothing about mining or the technical side of crypto currency.

I have BTC and love what it can hopefully achieve.

Can anybody offer an explanation of the point of all these alt coins?  Do these new coins compliment BTC, are they superior in some way, or is it competition?

Would it not be far better to pooling all knowledge and making BTC achieve greater things, considering it is still very young.

Surely, getting the general masses to adopt BTC is a mammoth task, having all these other coins offering whatever it is they have would totally confuse anyone not familiar with crypto currencies.

I am confused.   Do we really need hundreds of crypto currencies this early?

Well most are just made to pump and dump and make a quick profit on. Nothing more nothing less.

Still confused.  

What is the point of "pump & dump"?  

Surely the whole exercise is to achieve global adoption.  The vast majority are not interested in what you describe.

Newbs and people who want to make a quick profit care. They don't give a shit about cryptocurrency or what it can achieve or represent, they just want to get rich quick.
full member
Activity: 182
Merit: 100
well in my opinion. is just like that to make quick profit. make 40k 50k 100k 200k usd in few hours is not BAD or few days.so all altcoins are welcome....
sr. member
Activity: 302
Merit: 250
I know absolutely nothing about mining or the technical side of crypto currency.

I have BTC and love what it can hopefully achieve.

Can anybody offer an explanation of the point of all these alt coins?  Do these new coins compliment BTC, are they superior in some way, or is it competition?

Would it not be far better to pooling all knowledge and making BTC achieve greater things, considering it is still very young.

Surely, getting the general masses to adopt BTC is a mammoth task, having all these other coins offering whatever it is they have would totally confuse anyone not familiar with crypto currencies.

I am confused.   Do we really need hundreds of crypto currencies this early?

Well most are just made to pump and dump and make a quick profit on. Nothing more nothing less.
Still confused.  

What is the point of "pump & dump"?  If the masses just see people losing or a pointless type of activity it will just bring more bad press to BTC.

Surely the whole exercise is to achieve global adoption.  The vast majority are not interested in what you describe.

I must be missing something.



sr. member
Activity: 257
Merit: 250
[insert trending meme] 人
This one seems actually quite interesting. Will be mining this on release.

when does the wallet etc get released?
cpu only , for a time...
how long do you estimate it will take for gpu mining to be available after release
hero member
Activity: 840
Merit: 509
I know absolutely nothing about mining or the technical side of crypto currency.

I have BTC and love what it can hopefully achieve.

Can anybody offer an explanation of the point of all these alt coins?  Do these new coins compliment BTC, are they superior in some way, or is it competition?

Would it not be far better to pooling all knowledge and making BTC achieve greater things, considering it is still very young.

Surely, getting the general masses to adopt BTC is a mammoth task, having all these other coins offering whatever it is they have would totally confuse anyone not familiar with crypto currencies.

I am confused.   Do we really need hundreds of crypto currencies this early?

Well most are just made to pump and dump and make a quick profit on. Nothing more nothing less.
sr. member
Activity: 302
Merit: 250
I know absolutely nothing about mining or the technical side of crypto currency.

I have BTC and love what it can hopefully achieve.

Can anybody offer an explanation of the point of all these alt coins?  Do these new coins compliment BTC, are they superior in some way, or is it competition?

Would it not be far better to pooling all knowledge and making BTC achieve greater things, considering it is still very young.

Surely, getting the general masses to adopt BTC is a mammoth task, having all these other coins offering whatever it is they have would totally confuse anyone not familiar with crypto currencies.

I am confused.   Do we really need hundreds of crypto currencies this early?



sr. member
Activity: 462
Merit: 251
Yes there is blakecoin that is based on the new sha-3 algo

But blake is only SHA-3 finalist, while keccak is SHA-3 winner, so Keccak = SHA-3, but Keccak != Blake.
Although the functions are similar with regard to their speed/performance, so I guess we should expect similar gap between CPu and GPU mining here too (roughly 300-500x faster with GPU).
hero member
Activity: 840
Merit: 509
I've got a feeling this launch will be anticlimactic. Something will go wrong.
newbie
Activity: 5
Merit: 0
Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!

Shouldn't be that hard to build a GPU miner - are there any other coins out there using same algorithm (Keccak) too (so such miner can be tried in advance), or is this coin first one?

Yes there is blakecoin that is based on the new sha-3 algo, and it looks like there are GPU mining programs to mine it. In theory this can be done for maxcoin. Any thoughts ?

Check this out: https://bitcointalksearch.org/topic/annblc-blakecoin-blake-256-for-gpufpga-with-merged-mined-pools-stable-net-306894

legendary
Activity: 1232
Merit: 1195
on Wednesday it will launch or there will be available clients for mining in a future date  Huh

Wasn't it being released on the 4th, or have they changed this now?
sr. member
Activity: 462
Merit: 251
Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!

Shouldn't be that hard to build a GPU miner - are there any other coins out there using same algorithm (Keccak) too (so such miner can be tried in advance), or is this coin first one?
hero member
Activity: 586
Merit: 501
on Wednesday it will launch or there will be available clients for mining in a future date  Huh
legendary
Activity: 3724
Merit: 3063
Leave no FUD unchallenged
this coins is premined ...that is very clear.. right now is being mined by developers. and his botnets. . so that is like 1 week or more being mined.. ....i just hope the prices get below 200 satoshis
Personaly I believe since there is lack of communication that there is something to hide behind the scenes amd pribably max told the devs to keep quiet otherwise they may leak info.. but what i think they are doing is creating optimized version of the miner and not releasing it.. thats the delay part we are seeing. We will be stuck on single threaded qt wallet miners while they use cpu optimized miner maybe on a private pool between individuals.. something seems offf about this release, so I wouldnt be surprised if they did something like this.. something about keiser makes me think of a snake. Then again it is a dog eats dog world.
I don't think anyone's taking these crackpot theories seriously, but by all means keep it up for the entertainment value.

"z0mg its teh conspiracyz."

This is the pre-announcement.  It's stands to reason (I know you guys aren't big on reasoning, but maybe give it a go some time) that all the details will be in the full announcement for the launch on Wednesday.  Once it's all out in the open, people will make informed judgements, rather than just talking out of their arses like you idiots are doing.  

Crackpot conspiracies eh? You clearly dont know how releasing a coin works these days. Put it this way 99% of the coins released today give some sort of advantage to devs thru pre-mining or getting creative. Like I said watch the opening blocks to prove me wrong you will see many goto same addresses.

A way to possibly combat this is perhaps inventing a tool and implementing an idea:

1) Develop a visual tool that lets you see which addresses have mined how many blocks.. maybe a heat map.
2) Incentive then is to create a new address for each block. Make fees high for first fee weeks so it avoids minimg and dumping, creates some market demand from real buyers, and allows tool we created to really show fair or unfair dispursement of coins at launch.
or
3) Simply make it so that difficulty and reward are setup so that unfair distibution doesnt occur.. but this is probably harder than doing the above.

Sure you can have botnets etc but will they really be setup and ready to go the first day of minimg when most of the easy blocks are mined? The diff algo seems to claim that it combats unfair hash distribution but we wont know until launch anyway.

And when you launch your own coin you can (try to) do all those things.  Until then, stop with the guesswork.  Wait and see what happens.  They've said they want a fair launch and I'm going to take them at their word until I see evidence to the contrary.  Not baseless accusations and presumptuous waffling.  Evidence.

And will people stfu about botnets?  There are botnets for bitcoin, but it doesn't mean the bitcoin developers made them.  If they want their coin to succeed, why would they take the risk of being associated with malware to hijack people's computers?  Hence crackpot conspiracies.  You sound like a crazy person.  Take off the tinfoil hat already.

You simply need a reality check. I dont think you understand at all what we are talking about..
I don't think it's possible for anyone to understand what you're talking about, because you're talking a load of bollocks.  Keep it up though, as I'm sure everyone else is finding it as hilarious as I am.

So what if most of the coins at launch go to the same addresses?  That doesn't mean they went to the developers and you have no way of proving otherwise.  You're just making baseless accusations.  
So what if someone sets up a botnet?  Again, that doesn't mean it had anything to do with the developers and you have no way of proving otherwise.  Baseless accusations.
And you're accusing the devs of keeping an optimised miner for themselves while giving everyone else a slower miner?  Again, baseless accusations.  

Who the hell do you think you are to say with no evidence that these people you've never even met are out to scam us all?  If you ever put your money where your enormous mouth is and launch your own coin, I hope people tear you a new one.
sr. member
Activity: 406
Merit: 250
Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!

I'm sure someone in here could but they'd probably keep it to themselves Smiley   I'm a programmer but only got a mac mini HD3000 atm.
member
Activity: 84
Merit: 10
The problem with this coin is the algorithm is verry good for ASIC implementations, unlike Scrypt its not verry memory intensive while hashing. Becous of that it will be as centralized at bitcoin mining. I can't see why this wouldn't happen?

Designing and building an ASIC will only be worthwhile financially if they can be made and sold in great quantities. If maxcoin doesn't take off, no one will build ASICs for it.


Yea, thats true, but then it doesen't really matter. Have a look at this project: http://rijndael.ece.vt.edu/sha3/sha3chip.html
Already working with Keccak.. Its not to far away.
newbie
Activity: 5
Merit: 0
Considering this coin will be CPU-only at launch, are you not worried about botnets having a high % of hashing power compared to the "average" miner?

With scrypt variants this is less of an issue, with coins that have CPU mining only the reward for mining for the average Joe is very limited.

Considering SHA-3 should not be that hard to implement on GPU, are you not worried that CPU miners will be overrun by GPU miners (I guess that whoever writes the miner won't just disclose the source or even its existence) soon after start?
There is already working SHA-3 implementation as part of scrypt-jane miners, so ripping just sha-3 out of it ... wouldn't be probably very hard Wink.

That is exactly what is going to happen. The happy-go-lucky crowd will be making 42 coins a day on their expensive i7-4700k and the GPU miners with their undisclosed mining software will be making 1.2 Million coins during the same day.

Im sorry to say this but there is so much openness and fairness built into Satoshi's implementation of bitcoin technology and continued over to Scrypt, that with the exception of pre-mining and insta-mining, every coin that uses some "innovative" technology (aka giving some secret advantage to the developer) has to be looked at carefully.

Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!



Isent it possible to develope a GPU program for ourselfs to mine this sha-3 maxcoin? It can't just be the developers that can do this, come on everyone let's get together to crack this!
full member
Activity: 196
Merit: 100
The problem with this coin is the algorithm is verry good for ASIC implementations, unlike Scrypt its not verry memory intensive while hashing. Becous of that it will be as centralized at bitcoin mining. I can't see why this wouldn't happen?

Designing and building an ASIC will only be worthwhile financially if they can be made and sold in great quantities. If maxcoin doesn't take off, no one will build ASICs for it.

member
Activity: 84
Merit: 10
The problem with this coin is the algorithm is verry good for ASIC implementations, unlike Scrypt its not verry memory intensive while hashing. Becous of that it will be as centralized at bitcoin mining. I can't see why this wouldn't happen?
newbie
Activity: 14
Merit: 0
Oh yes, and all this Bullshit about the botnets bla bla. Fuck the botnets ! Because of it's popularity this coin will be mined HARD from the start, so the botnets will be just a speck in the ocean...And a good botnet will then automatically switch to sth more profiteable.  Google 'botnets'  before you post !
And then the majority of the mining community will be voting for this coin. So that will mean this coin will make it. This system is perfect ; the majority decides, not just a handful of early adopting premining bitcoin scum who think they are on top of the world right now.
hero member
Activity: 521
Merit: 500
UFO
MAXCOIN just popped up on the exchange so it looks fairly certain they will be trading it.



where did you see it? on coins-e?

nothing on coins-e. There isnt a wallet released yet
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