Topic: [ANN][SPT] - Spots - Cryptsy | Fork 9/19 | Scrypt | Introducing Reward Reduction - page 20. (Read 93329 times)

According to market trade history there was not so much sells to be autosells. I think if it was autosells then there must be more trades with lower volumes, but there was few trades with big volumes (or it was autosell from biggest miners - but spots are very cheap to mine for big fishes). And sells was mixed with buys. So, this was bots, imho.

This is actually a good thing...  It appears a little around 4pm EST yesterday that Cryptsy updated their Spots client!  Unfortunately, as I had warned in my previous posts, there was a rather large sell off from the market being frozen for almost 2 weeks.  It appears somewhere around 50k worth of SPTs was dumped in a very short time, in large part due to auto trades and frozen deposits.

There are two things to do now!  One, we need to start increasing demand for Spots!  Open up and use Spots stores and services!!!  Two, take advantage of the super-low price and invest in Spots for the long-term.  Start buying it up now!  It looks like all of the auto-trades are done the market has been pretty stable over the last 4 or 5 hours.

Wow-wow-wow. Maybe slower? 400 satoshis and falling...

pools do that often now ie LGD hits such pool tommorow. but since we just switched here ot new sync... should be eays to solo mine htis algo

I am familiar with multipools, just haven't heard of ones that trade exclusively for alt coins...  It's a good idea...

Let me look at how easy they are to deploy.  I know NOMP has profit-switching built-in, but I haven't personally used this feature.  I also need to figure out the logistics in how to disperse the funds.

Seems like you have been away from crypto for quite some time. These multipools are quite popular these days. Some other multipools are hashcows.ws, ipominer.com and clevermining.com

I like the idea...  So, you mine via a multipool for SHA / Scrypt, then dump those coins for BTC.  Then trade to SPT before distributing to the pool...

It seems pretty straight-forward as far as the process goes, maybe a little complicated to automate.  I'll do some research and see what I can put together.

It does seem like a good way to drive demand up for the coin, as well as increased exchange volume.

That's the idea, it's a win win as we'll be trading on the exchanges for spots too.

He is asking for a pool like multipoolmining.com where we mine other coins and those coins are automatically traded for spots and we are paid in spots.

Can you give an example link?  I'd be happy to setup a second pool if there is a demand for it.  I haven't seen what you are talking about though.

I know that some coins like Particle have set up multipools where you can mine a SHA based coin and these are then traded for Particles. Just wondering if one has been set up for Spots yet.

No, the AntMiner S1's are SHA miners; this is a Scrypt-N coin. You would have to use a GPU or CPU.

I see I can now get my spots out of coins-e, great stuff
I hope the mac wallet follows sometime soon, I know it's in progress.

Are there any pools where I can mine spots with my antminers1??

Hi Everyone -

It's been a quite few days!  I'm hopeful things will pick up once Cryptsy upgrades to the v2 client and we can start taking full advantage of trading on our 70 second blocks.  Hopefully, this happens soon, but we're at the mercy of their team at this point.  Hang in there!!!

There is a pretty cool article that was published about Spots this evening.  I wanted to share with everyone!  Check it out on GryfenCryp.to - http://blog.gryfencryp.to/2014/06/05/spots/

Hi Again Everyone -

Here are a couple of updates for this evening...

- I closed the poll; we will retain the Spots name and continue to move away from Spots2.  Hopefully, as things continue to move forward the negative comments about the coin's history will stop.  

- Cryptsy.com is continuing to work on updating their client.  They are doing a full code review.  We should be online soon.

- Our hash rate seems to be stabilizing in the 50 - 60 Mh/s range.  However, it looks like a significant portion of this is coming from multipools (multipool.us and Coinmine.pw).  I think once trading resumes on Cryptsy we may see a pretty large sell-off of coins.  It's hard to tell if the traffic is coming from direct mining or profit-switching algorithms, it probably doesn't matter either way?  The culture of these miners is to trade for BTC...  This'll be a good opportunity to buy low, as I think the price will rebound as things stabilize.

- The multipools shouldn't be too big of an issue.  As the trade price adjusts to the actual market, the multipools will come and go and the KGW will allow difficulty to adjust as it needs to, block by block.  The problem right now is the static trade price listed on Cryptsy.

- As a note for any multipools that are mining Spots.  You may want to consider that the Cryptsy trading price is misleading right now...  None of the coins generated since the fork have been able to be transferred into Cryptsy's market.  You are mining under the assumption you will be able to trade your coins in a market that is frozen* currently.

*Trading is not suspended.  What I mean by frozen is that only coins generated on clients 1.0 and 1.1 are being traded at the moment.

Since it was not directly forked from the Spaincoin repo (it was downloaded then uploaded as a new project) they'll want to check the whole thing to make sure there are no backdoors or anything; that's why they are doing a full code review versus just checking the commits.

Thanks Mullick -

If it helps with your review, we completely abandoned the spots 1.1 source since it was causing the unstable blockchain.  We forked SpainCoin, since it was a Scrypt Coin that introduced KGW and Scrypt-N functionality.

The first commit in the history "Spots 2 - Base Clone" / 527cb401c1fcdec5f8aa948b81d0c8f58f554816 is a clone of SpainCoin and the following commits are changes to incorporate the Spots settings.

Sorry it has taken so long.

There is quite a bit changed in the code so i will need to do a thorough review before I build it on our servers

I have set aside some time tonight to look it over. Should be back online if it looks good by tomorrow

Oops, simple typo...  It's fixed.  My question is purely related to branding, we would never revert back to the old chain!

Some people misunderstand you when you wrote "pool" and not "poll"... You scared them that you will return to old "spots" blockchain, coin, close pools.... Crazy %)