[ANN][RIC] Riecoin: constellations POW *CPU* HARD FORK successful, world record - page 144.

gatra

hero member

Activity: 583

Merit: 505

CTO @ Flixxo, Riecoin dev

Quote from: pgon on July 18, 2014, 06:57:28 PM

Hi riecoin community, what service/services do you think this coin needs to make it more valuable?

the more the merrier!

The most important service would be more pools.
Then it could be online wallets, payment processors, blockchains with api like blockchain.info....

gatra

hero member

Activity: 583

Merit: 505

CTO @ Flixxo, Riecoin dev

Quote from: timk225 on July 18, 2014, 06:10:00 PM

And the answers are.....?

Quote from: timk225 on July 18, 2014, 06:10:00 PM

1. Does this coin have a true difficulty rating, like pretty much every GPU mineable coin?

yes, all coins have a difficulty rating. You can see it in realtime here: http://api.riecoin.org/difficulty.php
currently it's 1448

Quote from: timk225 on July 18, 2014, 06:10:00 PM

2. I see it is traded on MintPal, where I already have an account, currently at a rate of about 40,000 Riecoin to one Bitcoin.

That's not a question, but yes, it is traded at Mintpal. List here (as seen in the OP):
- https://www.mintpal.com/market/RIC/BTC
- https://poloniex.com/exchange/btc_ric
- btc38.com: http://www.btc38.com/trade.html?btc38_trade_coin_name=ric
- comkort

Quote from: timk225 on July 18, 2014, 06:10:00 PM

3. What's my profit potential with a few CPUs? I have an i3-4130, a Sempron 145 unlocked to dual core, a quad core AMD (i forget what it is), a 3.40 Ghz Pentium-D dual core, and a dual core Celeron, like a G-550.

That's not enough info to estimate profit, and I can't give you any guarantee. I'd encourage you to try and see for yourself.

Quote from: timk225 on July 18, 2014, 06:10:00 PM

4. Is this coin mined in pools, or is everyone a solo miner? If it is in pools, link me the list of pools.

Pools (as seen in the OP):
- http://ypool.net/ (xpt)
- ric.upcpu.com (xpt)

Thanks for your interest and good luck!

gatra

hero member

Activity: 583

Merit: 505

CTO @ Flixxo, Riecoin dev

Quote from: dga on July 18, 2014, 10:18:38 AM

Thanks for keeping up the development, Gatra. Sent 4000 RIC from the miner dev fee to you.

7f1beed387890b0d2f56cf9768cb1b346d982ef08b76c86029e29b4ea3b86e9b

(Posted publicly so people know where their miner dev fees are going.)

(btw - if you're taking votes: I wouldn't change the PoW even if the GPUs hop on it. I think the cool thing about Riecoin is the fact that it produces something mathematically interesting, and it's not worth sacrificing that in the pursuit of a philosophical goal as questionable as being "CPU-only".)

thanks!

Of course the PoW is the heart of Riecoin and what sets it apart from the rest, I wouldn't change that. However I am thinking of making the nonce field 512bits instead of 256. That would give room for more optimized mining and allow us to mine larger sextuplets. What do you think? My quick estimation says mining could go about 5 times faster. Is that correct?

pgon

newbie

Activity: 2

Merit: 0

Hi riecoin community, what service/services do you think this coin needs to make it more valuable?

timk225

hero member

Activity: 955

Merit: 1004

I'd like to put my CPUs to work mining something. I made it through the first three pages before I got too bored to read more.

So tell me a few things I don't understand:

1. Does this coin have a true difficulty rating, like pretty much every GPU mineable coin?

2. I see it is traded on MintPal, where I already have an account, currently at a rate of about 40,000 Riecoin to one Bitcoin.

3. What's my profit potential with a few CPUs? I have an i3-4130, a Sempron 145 unlocked to dual core, a quad core AMD (i forget what it is), a 3.40 Ghz Pentium-D dual core, and a dual core Celeron, like a G-550.

4. Is this coin mined in pools, or is everyone a solo miner? If it is in pools, link me the list of pools.

I only care about making as much profit for myself as possible, and I don't give a damn about mining the prime sextuplet numbers or whatever the hell mining this coin is supposed to accomplish.

And the answers are.....?

dga

hero member

Activity: 737

Merit: 511

Thanks for keeping up the development, Gatra. Sent 4000 RIC from the miner dev fee to you.

7f1beed387890b0d2f56cf9768cb1b346d982ef08b76c86029e29b4ea3b86e9b

(Posted publicly so people know where their miner dev fees are going.)

(btw - if you're taking votes: I wouldn't change the PoW even if the GPUs hop on it. I think the cool thing about Riecoin is the fact that it produces something mathematically interesting, and it's not worth sacrificing that in the pursuit of a philosophical goal as questionable as being "CPU-only".)

northranger79510

sr. member

Activity: 308

Merit: 250

Riecoin and Huntercoin to rule all!

Quote from: gatra on July 17, 2014, 11:12:45 PM

Quote from: northranger79510 on July 17, 2014, 10:14:40 AM

Any update this week Gatra? And how is your flu?

I'm fully recovered, thanks! it's winter down here, lots of people got sick with this weather.

miner is still not working though, I'm having problems with the debugger hanging, so it's hard to debug.

price is low! I have to stop constantly checking that android widget or I'll go crazy....

Yup. Thinking of using my Litecoin stash and convert to bitcoin and buy ~40k.

gatra

hero member

Activity: 583

Merit: 505

CTO @ Flixxo, Riecoin dev

Quote from: northranger79510 on July 17, 2014, 10:14:40 AM

Any update this week Gatra? And how is your flu?

I'm fully recovered, thanks! it's winter down here, lots of people got sick with this weather.

miner is still not working though, I'm having problems with the debugger hanging, so it's hard to debug.

price is low! I have to stop constantly checking that android widget or I'll go crazy....

northranger79510

sr. member

Activity: 308

Merit: 250

Riecoin and Huntercoin to rule all!

Any update this week Gatra? And how is your flu?

Q1WaR

newbie

Activity: 8

Merit: 0

In my opinion a transformation of riecoin might be better than an additional coin in order to avoid people expecting a third or forth (rie-)coin.

fairglu

legendary

Activity: 1100

Merit: 1032

Quote from: northranger79510 on July 15, 2014, 09:53:59 AM

A double edged sword. On one hand, whoever they are, they are confident enough to hold that much RIC. THere will always be massive holders in any coin so that is normal. On the other, it is troubling to think what they can do with it once RIC prices rise.

Most probable scenario is they're an exchange with a handful of very large depositors (2-3), and dozens of smaller ones.

The large ones are depositing directly from yPool, it's impossible to know just from looking at the blockchain if they are holding or dumping everything as it arrives (multipool-like), the only way to know that would be to have access at the exchange database Wink

northranger79510

sr. member

Activity: 308

Merit: 250

Riecoin and Huntercoin to rule all!

Quote from: fairglu on July 15, 2014, 05:01:58 AM

Quote from: northranger79510 on July 08, 2014, 08:19:39 PM

Quote from: fairglu on July 07, 2014, 04:50:48 AM

New feature to the explorer: Largest Wallets!

It's a rich list with addresses aggregated by guesstimated wallets.

Any idea who is the exchange with the #1 wallet?
(if you spot your deposit address in there, you'll know)

Probably either poloniex or yPool

Those are tagged and MintPal as well (though the tagging could be incomplete)

Could be btc38... I can't read Chinese to confirm, are they large enough to be #1 RIC exchange?

Also whoever they are, the RIC richest address seems to be their cold wallet, meaning they control more than 45% of all RIC.

A double edged sword. On one hand, whoever they are, they are confident enough to hold that much RIC. THere will always be massive holders in any coin so that is normal. On the other, it is troubling to think what they can do with it once RIC prices rise.

northranger79510

sr. member

Activity: 308

Merit: 250

Riecoin and Huntercoin to rule all!

What could be nice (not sure if possible) if maybe thinking of cloud mining perhaps in addition to CPU mining?

fairglu

legendary

Activity: 1100

Merit: 1032

Quote from: northranger79510 on July 08, 2014, 08:19:39 PM

Quote from: fairglu on July 07, 2014, 04:50:48 AM

New feature to the explorer: Largest Wallets!

It's a rich list with addresses aggregated by guesstimated wallets.

Any idea who is the exchange with the #1 wallet?
(if you spot your deposit address in there, you'll know)

Probably either poloniex or yPool

Those are tagged and MintPal as well (though the tagging could be incomplete)

Could be btc38... I can't read Chinese to confirm, are they large enough to be #1 RIC exchange?

Also whoever they are, the RIC richest address seems to be their cold wallet, meaning they control more than 45% of all RIC.

fairglu

legendary

Activity: 1100

Merit: 1032

Quote from: gatra on July 14, 2014, 10:08:34 PM

it's just an idea... I wanted to see how people felt about it....

It might make for a good marketing coup, but on the other hand, it would send a message of "short term", as you'll then just expect a RIC3, RIC4, etc.

Monero/ByteCoin has a rather severe blockchain bloat issue, they're already nearing the gigabyte for the few transactions they see after a few months, and just wouldn't scale to the transaction level Bitcoin saw last year, let alone the one it'll see if adoption continues.

Also anonymity is still essentially a marketing fad, as most coins of the anonymous cryptos being launched these days are actually on exchanges, where the practical anonymity level goes from quite limited to none.

Infrastructure and services are needed more, I'm thinking services like coinbase for bitcoin which immensely facilitate adoption by merchants. Even if they only use it as a payment processor these days, it allows merchant to get their feet wet, and opens the door to future services based on bitcoin.
Long term goals, marketing and support are what can enable infrastructure and services IMHO.

More urgently in infrastructure, RIC needs at least two more major pools, as currently a successful hack if ypool would take it down.

Ellieo

member

Activity: 60

Merit: 10

I hope RIC or RIC² can be the forefront at Processor-In-Memory technology instead should it decides taking the GPU path for mining later on.

Check out the Micron Automata Processor (AP). It's neither CPU/FPGA nor is it a memory device but a powerful processing “engine” that leverages the massive parallelism found within the memory modules technology in order to provide significant scalability to parallel processing that is also reconfigurable and reprogrammable.

I think it has great potential to solves a lot of Riecoin current (and future) difficulties issue. I'll bet the technology would even ensures the world record of largest prime numbers finding by Riecoin for a long time. Its SDK should be readily available for developer by now.

More info here:
http://www.micron.com/about/innovations/automata-processing
http://www.techradar.com/news/world-of-tech/all-you-need-to-know-about-automata-micron-s-revolutionary-processor-1237982#null

It's the best of both CPU and RAM technology.

bsunau7

member

Activity: 114

Merit: 10

Quote from: bsunau7 on July 14, 2014, 11:34:03 PM

(**) It took me about $50 of virtual server to mine about 100 ric over the weekend. People mining are doing it at a loss, not paying for hardware/power or are using miners which are 40x more efficient that dga's. Only ypool.net can tell if there is a super miner.

Just picked 3 random(ish) blocks from ypool, 5 users are (consistently) claiming 35% of all coins, with the top earner claiming 10%. To get that 10% 1 person would need the equivalent of ~2000 Xeon v2 (@2.7GHz) cores.

Regards,

--
bsunau7

bsunau7

member

Activity: 114

Merit: 10

Quote from: gatra on July 14, 2014, 01:09:27 PM

Hi! I've been a little sick (just a flu) and I didn't touch a keyboard in like 4 days (!) that's weird for me... anyway, I'm still working but I didn't make much progress lately.

One idea I've been fantasizing about: we could make Riecoin2, based on the new ring signature anonymous coins (Monero/Bytecoin). It would be a fork of their code but using out PoW. There should be a way to transition from RIC to RIC2. Maybe we could have a burn period where we would burn RIC to transform them into RIC2, or I could just premine a lot of RIC2, sell them for at 1 RIC on an exchange and after a while just burn the unsold ones. The latter would be easier than monitoring both chains.

What do you think? those who don't like it would be allowed to continue in the current RIC, and the fact that you would be able to use it to buy RIC2 at a fixed price (for a while) would make the price (of RIC) go up. Or would it hold RIC2 down? who knows....

I don't believe that 100% anonymous coins can exist(*) and re-tasking for a pipe dream probably isn't worth the risk. However as a PR campaign it might have some merit.

On other items; I don't think we can avoid a GPU miner for Riecoin just depends on the economics. Currently a GPU miner would need to be about 40 times more efficient(**) than dga's miner, a bit of an ask right now. I can't see any way of making this coin RAM dependent, larger memories optionally allow larger (and more efficient) sieves, but even then we are still well within a modern GPU's memory capacities.

(*) at some point you will want to do "something" with your coins at which point you are no longer anonymous. Also don't underestimate peoples ingenuity..
(**) It took me about $50 of virtual server to mine about 100 ric over the weekend. People mining are doing it at a loss, not paying for hardware/power or are using miners which are 40x more efficient that dga's. Only ypool.net can tell if there is a super miner.

Regards,

--
bsunau7

Ellieo

member

Activity: 60

Merit: 10

Quote from: gatra on July 14, 2014, 10:08:34 PM

it's just an idea... I wanted to see how people felt about it....
I think we would set 1RIC = 1RIC² during the transition phase. (or maybe 1RIC = 1.2RIC² in order to favor RIC, we'll have to think about it carefully)
and you would choose if you move your coins to RIC² or stay in RIC. PoW and mining would work the same... we could even have merged mining... I wouldn't abandon RIC.

anon tx is getting attention, I agree that most attempts won't hold water, but the ring signature approach is the only one I believe that can actually work (at least the theory is sound, I haven't really verified current implementations).

maybe we could add ring signature support and do the 512 bit nonces and the 5 mins per block things as a hard fork in RIC instead of making a new coin... but that's more work... if we like the RIC² name we could do the hard fork and rename RIC to RIC² and have nice new features without a new coin

RIC² likes RIC is noble idea but please think and plan carefully. The market is very sensitive to re-branding and it probably would asks "is there a 3rd generation, etc"? This either works in favor or can back fire dearly.

Ellieo

member

Activity: 60

Merit: 10

Quote from: northranger79510 on July 14, 2014, 08:04:37 PM

Yea. I agree. Why make a new coin when a perfectly good coin already exist and needs improvement?

Neither are the affairs with more than one cryptocoin would work for your investment. You (or they) simply can't focus and please all of them (or you) at the same time. Make up your mind and stick with just Riecoin.

Perfection is likes evolution and it's on going process.

Topic: [ANN][RIC] Riecoin: constellations POW *CPU* HARD FORK successful, world record - page 144. (Read 685207 times)

Topic: [ANN][RIC] Riecoin: constellations POW CPU HARD FORK successful, world record - page 144. (Read 685207 times)