Topic: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine - page 124. (Read 578501 times)

I may be very wrong here, but I don't understand how it makes a difference for me who mines the coins?
Having a large private GPU sounds like something that would put the pressure on the price downwards and make for cheap coins until a public miner is released.

Nozick's famous Wilt Chamberlain argument is an attempt to show that patterned principles of just distribution are incompatible with liberty. He asks us to assume that the original distribution in society, D1, is ordered by our choice of patterned principle, for instance Rawls's Difference Principle. Wilt Chamberlain is an extremely popular basketball player in this society, and Nozick further assumes 1 million people are willing to freely give Chamberlain 25 cents each to watch him play basketball over the course of a season (we assume no other transactions occur). Chamberlain now has $250,000, a much larger sum than any of the other people in the society. The new distribution in society, call it D2, obviously is no longer ordered by our favored pattern that ordered D1. However Nozick argues that D2 is just. For if each agent freely exchanges some of his D1 share with the basketball player and D1 was a just distribution (we know D1 was just, because it was ordered according to your favorite patterned principle of distribution), how can D2 fail to be a just distribution? Thus Nozick argues that what the Wilt Chamberlain example shows is that no patterned principle of just distribution will be compatible with liberty. In order to preserve the pattern, which arranged D1, the state will have to continually interfere with people's ability to freely exchange their D1 shares, for any exchange of D1 shares explicitly involves violating the pattern that originally ordered it.

Soooo.... still no GPU miner for win users? or amd? or bounties for that?

All you're doing by buying this coin, is making the guy/s mining with the private gpu miner, very Rich.

that will make a lot of difference if many people buy this coin rather then mining this coin.

It makes a huge difference. Look at Bytecoin(BCN) for example, 80% of the coins are in the hands of a handful of individuals who mined the coin in secret over a period of 2 years. Those people, have the power to control the price of the coin and play with it, however and whenever they want because they own such a unfairly large amount of the coin.

For the people mining this coin with a private gpu miner, they are getting most of the coins mined per day, making for a extremely unfair distribution. We can't tell if they'll sell or hold for later on, but either way, they technically "control" this coin, since they can manipulate the markets to their liking.

Features alone isn't what makes a cryptocurrency good, distribution plays a large role. Bad Distribution will stop any cryptocurrency from getting far, look at NXT for example, it's price hasnt gone above 10 cents since the bitcointalk public realized it's extremely unfair distribution with the first 50 addresses on the NXT richlist, holding over 45% of all NXT coins

I may be very wrong here, but I don't understand how it makes a difference for me who mines the coins?
Having a large private GPU sounds like something that would put the pressure on the price downwards and make for cheap coins until a public miner is released.

@catia: Just noticed the modification suggested by skunk in this post. Sorry for not seeing it earlier. Kudos to you and wolf for the miner.

EDIT: It seems it can compute ~1.8 MH/s on a single instance (GPU + CPU mining).

"mined by a larger group of people for the average buyer"

I'm not sure what you mean by that question....If only a few people are using a Private GPU, then that means most of the coins mined are highly concentrated in the hands of a few people, making it a Very unfair distribution. There's no point in even buying this coin anymore.

How is that different from buying into coins mined by a larger group of people for the average buyer?

Game over for Cryptonite. Someone has a Optimisized Private GPU Miner. I hope no one buys this coin, you'll only be buying into a guy who already likely gets most of the coins being mined per day.

Yes, you will be wasting time and money with that. No point. Those who gain are using private miners.  You get more XCN by buying from the exchange.

Edit: It is game over for all miners using public codes.  Too bad those who who have the knowledge to make a better miner will not be sharing.

Same question, anyone has Miner for AMD?

anyone has a AMD minner？？

... which means game over for the coin. All the coins of the world worth nothing if noone wants them.

Tried public code of cudaminer on Ubuntu 12.04 with CUDA 5.5 on EC2 g2.2xlarge. Still getting a hashrate in the range of 1400-1500KH/s. Waste of time. Most probably any hashrate above that is generated by unpublished cudaminer code.