BitcoinV - Bitcoin with Variable Block Rewards - page 7.

zoneterror

jr. member

Activity: 164

Merit: 6

Quote from: BitcoinV on July 19, 2019, 01:47:25 PM

Thanks! Happy to hear!

The coin is still young and unknown. The multiplier option not only gives variable block rewards, but can create a more decentralized form of Bitcoin by incentivizing SOLO miners to keep trying to mine for a very large block reward. As mentioned earlier, take advantage of boosting the block multiplier while few miners are mining. Once many more miners come onboard it will be more difficult to mine the larger block rewards.

Oh yes i 've tried of the course x1, then the x2 for around 3 hours it was really well.

And now we're trying the x16.

There is one thing tho, is that we still need block confirmations tho, and as we are the only one, or almost, mining it and giving it some hashrate, no blocks are getting discovered as long as we put a too high multiplier.

I think i'll go for x16 now, and then put it back at x1 to confirm it during one hour or so.

And then try again something higher, like x32, or probably more, will see i guess.

Are you mining too ?

Thanks

zoneterror

jr. member

Activity: 164

Merit: 6

Quote from: BitcoinV on July 19, 2019, 01:47:25 PM

The difficulty level adjustment algorithm does not prevent a miner from mining blocks at a very fast rate, it only tries to adjust the difficulty over time to try and maintain 6 blocks per hour. It will never get an exact 6 blocks per hour.

The multiplier makes it harder to mine blocks. It you are mining at x1 and find B blocks per hour, you would expect to find B/2 blocks per hour if mining at x2 with the same difficulty level.

There is an incentive to mine for a multiplier of at least x32: (2^5). Take a look at the code and you see some extra mining power added to make it a little easier for you to mine
https://github.com/bitcoinVBR/bitcoinV/blob/master/src/variable_block_reward.cpp

I see!

Thanks

!!

Your coin rocks by the way !

Gotta love that multiplier option :p

zoneterror

jr. member

Activity: 164

Merit: 6

Also what will happen if, we've found like almost 18 coins in less than one hour.

But you said 6 blocks per hour.

And then now we change the multiplier, which is at only default x1, to x512.

As we had a lot of block in tiny amount of time, does it mean we 're not going to have block for like 3 hours ?

Because 18 = 6 x 3 - 18 blocks we already found , 6 blocks per hour default and 3 hours without block.

Does it make sense :O ?

Thank you

zoneterror

jr. member

Activity: 164

Merit: 6

Quote from: BitcoinV on July 19, 2019, 11:57:43 AM

BitcoinV is 99.9% the same code as Bitcoin. I always mine using the linux qt wallet and this:

https://github.com/zone117x/node-stratum-pool

Try and use the node-stratum-pool above on windows and see if your asic miners can mine using the Windows qt wallet, it should work.

Oh ok i'll try that ty !

Also we got a problem with the payment from the pool.

Everything should work fine but payment for BTCV wasnt send..

So i've tried to send some coin manually and i got the error saying that :

error -4: fee estimation failed. fallbackfee is disabled. wait a few blocks or enable -fallbackfee

So i've re-started the bitcoind with the option -fallbackfee as it is mentionned for BTC aswell, but still after that i cant send anything.

If i try to tell the bitcoin-cli the fees, (tried with 0.0002 as it is by default) with bitcoin-cli settxfee 0.0002

i got the error :

error -32601: method not found

Like the same code saying to put off the getinfoblock thing.

Any idea how to solve this ?

thanks !

EDIT : NVM i solved it !! My bad i shouldnt had to put "bitcoin-cli" while trying to set the : bitcoin-cli settxfee 0.0002 , so just settxfee 0.0002 and it worked.

I'll check if the settxfee stays for the payments, because right now it was only to make a test by sending coins manually

Also i had to do the same for the bitcoin-qt too!

zoneterror

jr. member

Activity: 164

Merit: 6

Quote from: BitcoinV on July 19, 2019, 11:57:43 AM

You can decrease the difficulty by setting the multiplier to a higher value such as x512. The miners on your pool will find fewer block (with larger rewards); this will cause the difficulty level to start dropping. You could try and repeat this strategy by putting the multiplier to x2048. The rewards will get larger and fewer blocks will be found; this will cause the difficulty to drop again. At some point you are challenged by other miners who start rising the difficulty level and force you to try a different multiplier to try and optimize your rewards. Remember, the system is trying to maintain 6 blocks per hour; whether they are paid at 50BTCV or a much higher amount is up the miners. It is a game of greed (GoG).

Also, it may be beneficial to buy some BTCV on Graviex right now and then start mining.

https://graviex.net/markets/btcvbtc

Hi !

Why would it be beneficial to buy if i can mine them :O ?

Oh ok i see for the decreasing and difficulty thing !

How can we mine on windows with the wallet-qt by the way ? If i mine with asics i meant, i cant possibly connect my asics because the wallet doenst have the "server" option, even if i put the server=1 in the .conf file isnt?

I've tried it and by many other way it really doenst work Sad

!

Thanks!

zoneterror

jr. member

Activity: 164

Merit: 6

Quote from: BitcoinV on July 19, 2019, 11:57:43 AM

Quote from: zoneterror on July 19, 2019, 08:54:51 AM

Holy cow it really works lol !

I've tried x16 first but with the 60Th/s that we have we couldnt get a block in 40 minutes.

And just tried it at x2, already found a block confirming that it works.

EDIT: after 30 minutes at x2, with 60-70 Th/s, still only found one block. Difficulty is now at 6.5 mil. Is it normal :O ?

Of course it works. As the block reward increases, so does the time to mine a block. Check out some nice LOTTO winnings in the block explorer, here is one:

http://explorer.bitcoinv.org/block-height/12102

Over 1 million BTCV mined! This was much easier because the difficulty was low.

There is a trick for the early miners like yourself, If you let the difficulty level drop low, you can then pump up the hashrate to 1PH/s and put the multipler to 32768. You will get huge rewards. As miners start coming onboard, this will have to be done by increasing the hash power; it will be impossible to tell everyone to stop mining to drop the difficulty in the future. Mine as many large blocks as you can right now.

Oh i see, good idea !

I couldnt right now as diff jumped to 6.5mil, but it started decreasing now, and as i've put back the multiplier at x1, i started getting blocks again.

And i cant put if off as i already have miners in the pool on it....

But i can still mine at home with the QT wallet version tho.

I believe the lottery option is not available for pool. isnt ?

zoneterror

jr. member

Activity: 164

Merit: 6

Holy cow it really works lol !

I've tried x16 first but with the 60Th/s that we have we couldnt get a block in 40 minutes.

And just tried it at x2, already found a block confirming that it works.

EDIT: after 30 minutes at x2, with 60-70 Th/s, still only found one block. Difficulty is now at 6.5 mil. Is it normal :O ?

zoneterror

jr. member

Activity: 164

Merit: 6

Quote from: ?? on ??

The config file option has been integrated a long time ago. Look at the command line options and you will find:

setvbrmultiplier=

Set the Variable Block Reward (VBR) multiplier for mining. Value will automatically be rounded to the nearest lower power of 2

If you want to mine for x512 for a 50BTCVx512=25600BTCV per block reward then add this line to the bitcoin.conf file:

setvbrmultiplier=512

But,where can we find other command line options ? In a specific text file or something :O ?

In the meanwhile, i'll try the setvmultiplier right away

Thank you

zoneterror

jr. member

Activity: 164

Merit: 6

Quote from: ?? on ??

Pool operators are free to setup the multiplier in anyway they choose. The GUI pull down menu works well, there is also an RPC call that can be made at runtime. If the community wants a configuration file option to modify the Block Multiply, we can code this feature.

PLEASE do it

!!! We can't use the multiplier yet on bitcoin-cli and we got good hashrate to use in our pool Tongue

zoneterror

jr. member

Activity: 164

Merit: 6

• New pool for BitcoinV :

MiningPool.host

• 0.24% fee

• Payouts every 30 minutes for balance above 0.0001

• -a x11 -o stratum+tcp://miningpool.host:3533 -u -p c=STOREL

DISCORD

Happy Mining

zoneterror

jr. member

Activity: 164

Merit: 6

I can't use the multiplier on my pool. i use the bitcoin-cli of course, and in the script it doesnt specify the port, so it keeps trying to connect to port 8332, when it is supposed to be 9332 .... :/

We have this error:

error: Could not connect to the server 127.0.0.1:8332

Make sure the bitcoind server is running and that you are connecting to the correct RPC port.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: ?? on ??

Quote from: AlecMe on July 05, 2019, 08:47:58 AM

seemed a good project.

what happened? dead quiet, no posts, 1 miner mining

BitcoinV is alive. The crypto market in general is very saturated and makes it harder for people to determine which crypto they want to invest in. The lack of posts is most probably due to the similarity to Bitcoin; the only work involved with keeping BitcoinV going is waiting to sync up with Bitcoin code at major milestone releases.

Is there large audience for this coin? I mean real users that are optimizing the benefits of this project? I haven't seen a lot of exchanges that trade this particular coin.

AlecMe

full member

Activity: 392

Merit: 159

seemed a good project.

what happened? dead quiet, no posts, 1 miner mining

iUNeIV

newbie

Activity: 53

Merit: 0

BitcoinV (BTCV) POOL

bitcoin-pool.fr
Pool Fee 2%

Code:

-o stratum+tcp:// bitcoin-pool.fr:3333 -u [-p c=BTCV]

Pool host: bitcoin-pool.fr
Pool port: 3333
Pool user: Your_Wallet_Address
Pool pass: x
Algorithm: sha256
Fee: 2%

AltcoinCash

member

Activity: 502

Merit: 15

Building Altcoinchain

Quote from: ?? on ??

There still seems to be a bit of confusion on how the difficulty level works on BitcoinV. The difficulty is split into two areas:
1) The original Bitcoin difficulty level
2) Variable Block Reward difficulty level

When mining at x1, BitcoinV is the same as Bitcoin and the VBR difficultly adjustment does NOT kick in. When mining at x2 or larger, the VBR difficulty level kicks in. Changing what the GBT reports for difficulty would make a miner waste its power by trying to find a block with more zeros than is required. Once there have been enough leading zeros found in the hash (original Bitcoin difficulty level) then the VBR difficulty level kicks in where pattern matching of Merkle root with previous hash. Just a note, many pools are using greater than x1 and properly paying the rewards...

Can confirm this, https://altcoincash.xyz/ is mining at x512 and payouts are correct.

Chris Sokolowski

full member

Activity: 194

Merit: 100

Quote from: ?? on ??

It appears that even though miners could pull more out of the blockchain by using multipliers, enough miners tend to be content enough to get less reward by accepting the 50 BTCV payout. This is actually good in that it strengthens the blockchain by finding blocks faster which makes a 51% attack harder. As I observe the Variable Block Rewards in action, it seems that the majority will form pools either going for x1 or x2 block rewards. There will always those trying to grab a large reward SOLO mining. It is the additional variation of pools and SOLO mining that actually makes BitcoinV a more decentralized version of Bitcoin.

We are Prohashing are mining at x1 because that is the only multiplier compatible with our mining software without code changes, and I suspect that's the reason most other pools are using x1 as well. We would love to mine at a higher multiplier, but the client has what we consider a bug - it returns the same difficulty target in getblocktemplate regardless of the multiplier; the difficulty should increase by the multiplier. Therefore, if we use another multiplier, we pay too much to customers. For example, with an x16 multiplier, the block reward increases by 16 but the difficulty doesn't increase, and we end up incorrectly paying 16x per share to miners.

If the client just increased the reported the difficulty by the multiplier, then it would be compatible with all existing pool software, including ours, and we could easily increase our multiplier. Otherwise, we would have to modify our pool software to support BitcoinV and deal with all the potential bugs that may introduce. I think the community of miners could be greatly expanded if that single change was made to the client. We have contacted the developer requesting this change, and he has said that what we consider a bug is actually a feature and that will not be changing this behavior. We disagree.

sssergy2705

copper member

Activity: 205

Merit: 1

Quote

Someone just SOLO mined a large 102400 BTCV block.
http://explorer.bitcoinv.org/block-height/5311

Still, it was not worth putting such a low complexity.
At the moment, the coin costs less than half of Satoshi, and there is no sense to mine it.

Verigus

member

Activity: 120

Merit: 10

Will I received any reward if I run a full node to support the network?

toogoody

jr. member

Activity: 588

Merit: 1

List of known BitcoinV pools (BTCV) :

https://miningpoolstats.stream/bitcoinv

Live hashrate distribution, pool fees & minimum payment comparison.

AltcoinCash

member

Activity: 502

Merit: 15

Building Altcoinchain

BitcoinV is now mining with x512 rewards at AltcoinCash.xyz, 25600 coins/block!

Code:

-a sha256 -o stratum+tcp://stratum.altcoincash.xyz:33331 -u -p c=BTCV

Antminer S9 example:

Topic: BitcoinV - Bitcoin with Variable Block Rewards - page 7. (Read 5651 times)