Topic: [ANN][RIC] Riecoin: constellations POW *CPU* HARD FORK successful, world record - page 229. (Read 685214 times)

Riecoin Big Expose.

-- When rie coin first started, the block was not even able to mine by solo mining or wallet mining.
It was so hard, until ypool jh00 created a optimize miner and we start getting blocks.


But did you realise that the block keep increasing despite we using the "rminerd" that is given to us by the Developer.

What I think is the developer got his own optimized miner and he mine all the block at early stage of Riecoin and we the miner here are given a broken miner.
If nobody was getting blocks at start, why is the block keep increasing so fast despite the miner is broken.

Think about it, nowadays a lot of "zero premine" coin like Maxcoin, Riecoin

but when they initially start, the miner or wallet sure have issues with mining, yet the blocks keep increasing.

What I believe is that this is a scam coin, if you notice RieCoin been keep dumping the way down. Nothing from developer, on the first page or its website, its just a coin where he use optimized miner and get over 10,000 rie coin at start and then dump at the price is right, while was the miner are stupid to believe that this coin is actually fair.

The developer himself probably make over 10 BTC by selling the premine Riecoin (by giving us broken miner and he himself use the actual algo miner) .

The pattern is quite similar to Maxcoin where they say zero premine yet the node cant sync, cant mine at start etc.


At here, we are given a broken miner only until ypool jh00 release his version. I am sure the developer of riecoin does not use the broken miner. It was meant to keep us getting the coin slow compare to him.

If you think what I say is true, please repost it.

Sure, that makes sense.

There have been a number of small exchanges recently that got 'hacked' and walked with everyones coins. That's the harm.

Why? What is the harm in being listed on smaller exchanges?

Thats a comment on the rate of inflation, not rarity. You're talking about how much new wealth is created in relation to what already exists. Again, location of the decimal place is irrelevant to that.
My point is that this was a less advantageous place to do that. "They" are not a team. There was no inside track with Riecoin. All manipulators would have had an equal shot at this, meaning there would be no monopolists.

Coins are rare usually because  the difficulty increases very fast after initial release so later comers don't have a chance to mine much. Often those who holds the pre-mined or insta-mined coins dominate the market.

Many know the new coin sequence of action well so they target new coins that have a good story to tell, mine like hell while the difficult is low, pump the coin before  myths are debunked, and dump as the price surge. You don't seem to realize how many players are  here well prepared for a business. They are not here by accident.

Thanks, I've seen similar statements from Sunny elsewhere too. Even one where he was claiming RIC is based off his work. I guess I'm ultimately left with 2 UFO mechanics with disparate claims.


I understand how the integers work and what people mean by rare. What I was asking about was this point. It sounded to me like you're saying rare coins suffer from greater wealth concentration. I haven't heard that before and wondered why that would happen?

My point about Gatra and the launch was that if RIC is being manipulated by big wallets its either by a scammer who got there by accident, or someone who wasn't a scammer but has now decided to become one just this week. Less of a risk than many other new coins.

I did not say they have something to do with each others. My point was that at least network connectivity works to that address.
And ypool webserver is back online.

My experience is that rather the opposite happens. As there's only a limited amount of coins released per time unit, the difficulty sky-rockets and it will be truly harder to mine with CPU - but the coins already mined will increase in value. Recent examples are DRK and MAX. Another example: Bitcoin

That's why we should use the opportunity to mine/buy and keep as much as possible now, before the hashfactories/GPU's enter the market.

Yeah, might be a leak, mine reports
VmData:   20989376 kB

The webserver has nothing to do with the pool server. It's a seperate service on the same machine.

ypool.net web server down, but xptminer has been connected to 213.208.129.126:10034 ok..

is this normal memory usage for xptminer, or is there a leak or two? 
VmData:    5247728 kB

Riecoin doesn't have block rewards from 10K to 1M and block time of 1 minute. It can be as hard to mine RIC as LTC, for example.

The problem is that maybe in the future this coin can have GPU miner, even the dev said so, at that moment, the previous coins have been made from CPU-only way means little, I think that will cause the price dramatically dropping

You can see what Sunny King said about the confusion here and more detailed explanation here I haven't read the source code.


All crytpo currencies can be divided into many tiny pieces. When people say a coin is rare, it means that the total number of coins (in unit of one) in existence is small. I didn't say gatra benefited from a difficult coin. All I am saying is that its difficulty will have some likely consequences based on my observation of many coins and their players. Many of them don't hesitate manipulating in this wild west.

I never said Riecoin is a clone. When something is invented it often happens that many people are trying. There was a guy trying to make "curecoin" that would help cancer research but failed. The sucess of XPM definitely shows the way (and the pitfalls) to all future sci-cryptos. As a contribution of implementation details, XPM uses a by-product psudo-random number for fine adjustment of difficulty. I don't know if RIC uses it. It is a genius idea that many coins that don't use hash algorithms could borrow.

no, thanks. We need bter/cryptsy and btc-e only.

Hey guys!

Lazycoins.com is a new exchange launching soon. If you want to see Riecoin get listed there then make a new thread for the coin and upvote it on reddit.com/r/lazycoins or tweet the coin to @LazyCoins! Follow us to stay updated the moment we launch!

Cheers!

Thanks for the detailed response, its much appreciated. I'm still not convinced by much of what you're saying though, or at least, it doesn't fit with what Gatra has said so I am confused. Again, I'm not here to fight, I welcome being set straight. Math and computers were not my major.

This was answered above. The way you've phrased this sounds like Gatra benefited from Sunny and XPM release. Is that accurate? What is it based on?

I agree, its not a big deal. At the end of the day I appreciate that the data produced by both coins is useful, but neither Cunningham chains nor prime sextuplets are of any value directly to the work I do.

OK, but that is a characteristic of the launch, not the coin. Every coin is un-minable solo eventually if it becomes popular.

Please understand that I am listening to 2 mechanics explain to me the inner workings of a UFO's carburetor. From Riecoin.org: "A centralized checkpoint allows its controllers to perform double spends without any need for any % of hash rate. Can we be sure it will not be hacked and/or abused?". If its feasible that a central controller could double spend, to me that makes it all dependent on trust - just like gov fiat. So who do I believe here?

OK, no offense if I've misinterpreted your statement, but are you trying to deceive me here? I realize many new people are confused by these concepts, but I am not. Those coins are not actually rare, they just moved the decimal to the left, that has no relevance on distribution of the wealth in the system whatsoever. Distribution is determined by how many people got involved, when and how.

The Riecoin launch wasn't perfect, solo mining was impossible for an average person and pools were not yet set up. So like many many coins initial distribution was not the best. This has happened to many good coins, they succeed if those initial big holders sell and distribute. I've seen some big blocks of RIC get sold all at once, I've bought quite a few myself. I believe those big RIC stakes have shrunk significantly. I don't think those big holders are the manipulative type either, this was not a hyped coin. You'd want to make a big splash and draw in many suckers wouldn't you? And the way the launch happened with the 24hrs of no reward, Gatra personally had no opportunity to become the big stakeholder. Why would you create a coin for other random people to use as a scam? And what scammer would bother setting his machines to mine an under mentioned coin? I think what happened was a lot of math types running the university's giant machines got lucky, decided they had too many coins, and sold a whole bunch.

At the very least. If this coin is "mildly interesting", its priced at "who cares" and peaked at "pretty boring".

 

Seems gatra was working on his prime finding POW since before XPM was even released.

https://bitcointalksearch.org/topic/m.2628489

So it seems Sunny & gatra were thinking about the same thing at the same time. No clone here.