Topic: [ANN][ROI] ROI Coin | CPU Only Solo Mining Hybrid | 15% POS | 593% Term Deposit - page 160. (Read 107976 times)

How can I start mining on a Mac?
I notice that the opening post says that a Mac wallet is available, but I can't find it.

In this world, you have to pay for everything.
These are my servers, I rent out, many now stand.
....
Pool down, again /facepalm =(

Sometimes, I really curious how people mining with huge hashrate but know nothing about the coin, I bet you do not have to pay the bill for the hashrate, right?

Please read carefully at the OP, or read back a few comments...

Happily.  Any time you have a question or concern.  Feel free to ask.  We want everyone to succeed, and one element is knowledge.  

Yesterday at the pool I mined with a speed of 10-15 KH and only one paid 25 coins, for 25 coin in days, how?

Thanks for the explanations guys, much appreciated.

Thanks for your replying! Finally I got 20ROI from pool!

Ok, thanks for the explanation. I understand the shares decreasing while hitting new blocks but I expected the balance to go up. Now I am all-clear!

Your shares are reducing cause someone is throwing an absurd amount of hashing power at the pool something like 1200x more than you, and getting most of the shares. You only see any amount on the balance once the first block you mined matures and that will take some time.

PoS is huge topic.  To be honest, it took me a while to figure it out.  I was always asking, well, were are the coins coming from?  I just did not get it.  The short answer is, it is built into the block chain.  Peercoin and Primecoin I believe were the first adopters of this as an alternative or a hybrid to offset the energy usage in PoW.  Might be good places to Google search for more info.

As far as the interest earned on Term Deposits?  It is also generated by the blockchain, to pay on term deposits.  While paid on maturation, the interest is accumulating sat by sat.  It really is just a more main stream way of saying PoS.  Not many people know what Bitcoin is.  How can we expect them to understand PoS, but they do understand Deposits and interest earned based on time and percentage.  Just like a Certificate of Deposit.

So ROIcoin, technically has two levels of PoS.  The base PoS with pays on all new deposits for a month, each new deposit a month out, and so on...  So the Available balance will always be earning on new balances.

The Term Deposit Interest, is just a higher calculation of the 1st PoS using the same algo, but with higher values and in direct relation to the lock time, again, like a CD.

Both of which, are built into the block chain, validated by consensus (everyone on the network as they process blocks), and in your wallet they grow.  This is because it too has its own hash.  So if anyone ever went to Github and tried to change the percentages, it simply would not work, there are multiple layers of information in the blockchain that are "locked", no match no play.  Simply would not connect to the network.

No need to keep the wallet open for PoS, but it does help the network, even if you are not mining.

This is a very basic reply.  I am sure there are some old timers around here that could explain it a bit better than me.

haha thats just your shares resetting as each block is hit you nub ;p    
you wont see payouts for blocks from time they are hit for around 20 hours, as the coinbase maturity is 360 confirms

ROI Coin has a POS of 8% per year. IMHO I wouldn't call that extraordinary by any means.

The much higher % yields stem from "term depositing." The longer the term deposit the higher the interest rate goes. Term deposits do not mean the coin is a scam or ponzi. Term deposits have been done before and at astronomically higher rates than we have introduced. In a previous instance no destructive impact ever occurred as a result of the term deposit implementation and here again this was with much higher term deposit payouts.

Now you may or may not like or agree with the dev teams position on term deposit but if you're willing to consider the reasoning here it is.

Term deposits provide several positive energies to the coin.

• Gives incentive to hold the coin for a longer period of time to benefit from an increased reward
• Coins that are held longer term leverage the hope that we create long term users
• Term deposited coins are "locked down" so this slows down the flow of coins into the market
• Slowing down the flow of coins helps to improve supply and demand to help coin valuation
• Because various user term deposits unlock at all various times mass "dumping" issues are improved
• Very few coins offer this option so it helps the coin as it provides it's own unique type of store of value
• As the coin is branded ROI AKA Return on Investment this term deposit reinforces this desirable coin feature
• Term deposit is further enhanced in that the wallet is not required to stay online to gain full reward
• Offline wallet term rewards creates less user hassle for those who have little time to babysit a QT staking wallet

There are more and this list is not all inclusive but it's a decent starter kit worth considering.

By definition a PONZI is a pyramid in which new users must be brought in as a "down line" and the cash flow provided by those new users is mandatory to keep the above pieces of the pyramid liquid. Term deposits are nothing like this by any stretch of the imagination.

By definition a scam is a straight up scheme designed to rip-off/defraud people. If you think this coin is a scam your simply patently wrong in that determination and as time moves forward farther and farther it will become more and more apparent to you that this coin is legitimate and I am certain of that.

You don't have to like this coin or bother getting involved in it and I will respect your opinion and decision. I do like this coin and I am fully involved in it and I hope you can likewise respect my position. At the end of the day it's okay to agree to disagree and it's all good.

Something fishy going on with the pool:

My accepted shares keep on decreasing without any invalid shares and with no increase in the coin balance.

Address   Shares   Invalid shares   Efficiency   Hashrate   Balance   Daily income (expected)
RSKSygcgXt24qAU2UhkacypbxCkD6nk1PM   44   0   100%   75.24 H   0 ROI   18.089 ROI

When I first looked at it about an hour back, the shares were around 80 and I haven't had any payments since.

Is this expected, i.e. reduction in the number of shares ?

Not to be a neighsayer, but how do you get to such high PoS returns. Every other coin/token to date promising these kinds of returns have been scams/ponzi schemes. I'm not accusing, but would like to understand how this is different.

the pool operator can ban nicehash easily, as their logs show quite obviously where the hash comes from

BUT : they don't need to. all they need to do is lower the max diff on the pool to like 128 , and nicehash shares will all be rejected

The pool owner opened the flood gates when they raised the max diff to 1024 (by community request, but none the less, thats what did it)

 

That may not be possible in the era of cloud mining - IP can be changed very easily.

One option might be blocking wallet addresses which, let's say get more than 50% of the generated coins over a specific period of time (e.g., 100 blocks) but easy workarounds like generating 100s of wallet addresses are possible for this as well plus not sure how this'll work in case of pools.

Capping the hashpower per system/connection might make more sense. Thoughts?

Ultimately people throwing absurd Hashrates at the pool have more money than brains, all they do is drive the difficulty up, without getting more coins than if they would use the same total hashing power over a longer period of time.
 
It's difficult to implement some form of limitation unless you are willing to ban Cloud farming.

Why can't you just ban the IP of the user who throws a lot of hashing power at the coin?  Is that possible

Thank you and agreed!  We need to find a way, to keep this in the hands of everyday people.  That was our intent from the start.

Wow lot of great feedback here!

From the beginning we did want ROI to be mined by common PC's and even had discussions about if it were possible to ban pool mining to make the coin solo mining only.

After much discussion and debate it was decided not to ban pool mining for various reasons.

With that being said, there was concern of issues stemming from botnets that could push the common solo miner into hopelessness but so far that hasn't happened that I'm aware of.

The issue of someone using nicehash to throw enormous hash at the coin had not been considered and obviously it is coming up now. Based on the feedback of the community and the intent of the coin I think we should see what steps could be taken to put some sort of check in place to deal with this.

I am going to reach out to the mining pool dev right now and see what options might be available...