Topic: Bitmark - page 158. (Read 622213 times)

What happens exactly, someone targets a large amount of hashrate at the coin which solves blocks at a much faster rate than the target? And then it goes until the difficulty adjusts, in this case one day?

My reply to this is now posted before this post. Like it slipped into a wormhole.
https://bitcointalksearch.org/topic/m.7787199

Perfect...

100% agree with Mining comments - on that point - is there any news on mining pool/s? I would like to direct some steady hashrate.

I would seriously suggest that you consider PMing MineP.it (on here) as I know that he works with devs...

Please provide a donation Bitmark address as soon as possible. Have you already posted a BTC donation address? EDIT: Doh, just checked!

Good luck!

I have reposted this so it is at the top of a new page

Status
1. the domain bitmark.co has been purchased for the project
2. the dedicated server is purchased and being configured for bitmark
3. the dns seeder is being set up
4. we will be able to launch any time from tomorrow

Funding
Start up funding, required to get the project running has been kindly been donated.
Short term development over the next year is covered by me freely committing my time to the project, and maybe some others.
Long term development after the first year is to be covered by a donation based foundation.

I am not rich, I am not a miner, and my time is spent on Bitmark. Periodically I may have some spare change to rent a mining rig for a few hours, I hope I can get some BTM this way. It is likely that I will have the least BTM out of everybody, especially if the hash rate is high.

IPO.
There is no IPO, there will be no IPO. Bitmarks have zero value, any value they achieve will be earned, any IPO would mean giving a supposed value to each btm before it is even launched, we can not do that.

IPM.
The bitmark foundation will be funded by donations, if any btc donation or 'investment' is given to the bitmark project it will be spent on hired mining rigs, 5% of the btm mined will go to the foundation, 95% to the donor/investor.
There is no IPM period and no call for investment or donations, if somebody gives 0.0001 BTC today or 2 BTC next year it will be used as described above.
BTM donations are more appreciated and will go directly to the foundation.
This is fair to all.
If somebody explicitly wants to donate to the project developers (currently that is me) they can, but there is no requirement or request to do so.

Mining (important)
Maturity and Retarget
Bitmark block rewards take 721 confirmations to mature, the difficulty re-targets every 720 blocks (1 day). You cannot unlock any mined bitmarks until the next day, if you attempt to rape the coin with hashing power before dropping off the network, you won't see a result to your efforts for a long time.

Zero Value
I can not stress enough that Bitmarks have no value, do not expect any financial return on expended hash power for a long time. There is no exchange, there are no plans to be added to any exchange.

No Rush
The block reward reduces in 18 months, and only by a quarter, mining a block in 2014 gives you the same return as mining a block in 2015, and 75% in 2016.

Be fair and mine wisely
As there is no financial benefit to mining early and hard, it is detrimental, wait until you are comfortable and confident in the project before committing resources.
Be fair, if you want to mine some bitmarks early on, spare a mh for a few weeks not 100mh for an hour.
Strengthen the network because you see value in it existing.
If you mine this way you will increase the chance of being rewarded in the future financially.

Ideas and Outreach
Here is an example of a PM I received from macbackfat, who has been a huge asset to the project all ready


I trust you as a community, and I am not an omnipotent leader, if you have a suggestion like this I can do it or you can do it, I have an email address coinsolidation at gmail dot com, cc me in and have these discussions. Refer to me as "Mark Pfennig".
My name is Mark, that is not why I chose Bitmark as a name for the project. Pfennig, no that is a pseudonym.

Discuss amongst yourselves as to what is or is not a good idea, discuss privately or publicly, include me when you feel it would be good for me to be included.
This is what I am doing, I will engage you all here in any discussions I have, you can do the same with each other.

You collectively are wiser than I am alone.

Focus
Over the next two to three days my own focus is the launch of bitmark, I have coding to do and software to release to you all.

Immediately after focus moves to our long term goals, making this easier to use and integrate with, branding and websites, documentation, software development kits, resources for adopters, plans to target adopters, discussions with adopters and users to get their requirements, community engagement. Speak out on any of these things.

If you know of tools which can help us organize ourselves and plan suggest them, perhaps you use something at work that is good for collaboration. Perhaps you specialise in design or marketing, share your ideas and we will make them a reality together.

Thank you all for your input and kind words, I am very happy to be working on this project with you.

Awesome!



I would give at least 48 hours from the official announcement to the time mining starts. You don't want anyone screaming "Ninja Launch," either.



I would urge you to reconsider this. This is how coins get hash-raped. Something like KGW/DigiShield/DGW would protect from this. There have been coins with lower hashrates that have actually had to fork just to get past a block after being hash-raped.

Just read this in Kora thread:
-----------

"1. Limit daily transfer set by user. X exceeding certain amount need more confirmation or extra security measures.

2. "Lock" balance. If you are planning not to use the funds for some time, lock it and to unlock it must follow steps from step 1 (extra security measure)
..."



------------------------

I like the idea. Maybe an option for bitmark?
Especially point 2: You can make a password for daily use like "12345" (e.g max. 10bitmark transfer) and a password like "oihjdfe8das78udoijh98u.." for more than 10 bitmark.    

IMO "reverse-ipo" may against most of people to involve this coin.

It will be interesting to see how the network sorts itself out since we're in a sort of transition period now between GPUs and ASICs in scrypt.

One thing that could happen at one point in the future is if Litecoin's popularity wanes and the price drops to the point where it's not very profitable to mine with all these new ASICs that have been manufactured and Bitmark is sustaining itself by then, we could see some migration.

Very good choice, short and easy to remember.
I will point my rig to this coin for sure.

Good move - I had checked it but it was too late here to post - sleep beckoned!

The proliferation of alternative algorithms is, only IMVHO, driven by the quite considerable investment base in GPUs

With decreasing 'profits' and the cost of power only likely to increase, the need for other 'ASIC resistant' algos was inevitable and has fuelled innovation. This is after all, the nature of 'business'.

I'm only firing from the hip with no statistical data to drive the statement; BUT have we seen a massive uptake of widely adopted coins using non SHA/Scrypt algos? I'm not sure that we have. Has it become too complex and confusing for the average 'quick profit' driven miner to adopt? Perhaps so... Keeping up to date with every algo, compiling the latest cgminer / bfgminer / sgminer / etc. etc. downloading new wallets, keeping up with forks - has become, I guess, the landscape of the hardened focussed miner - not so the casual 'let's make a few bucks out of a hobby' miner with a 5 card rig or two whirring away in the basement...

EDIT: Does this also detract from simple, wider adoption and help to bolster the broader public opinion that cryptocurrencies are for geeks only?

I admire consolidation's stand together with his reasoning behind adopting scrypt; providing the various measures are in place to prevent ASIC-Rape then this is going to be a very interesting project and hopefully a long-term success!

 

I agree!

I am really interesting in this coin, a good development team makes a good coin, this is my faith, but if there are not enough development fund, it will bring some uncertain factors to the future of the coin, this is reality and has been proven by some good coins, please check my post in your reverse-IPO thread(https://bitcointalksearch.org/topic/proposal-an-alternative-to-ipo-for-pow-coins-684526)

Scrypt is alive and well! The large driver for non-scrypt algorithms (x11, x13, x15, x[n]) is to try and combat ASICs since these hit the market just a few months ago. We can use block-by-block retargeting and can be merge-mined the proliferation of Scrypt ASICs are a good thing . This means that Scrypt mining is here to stay and the network will be healthy for a very long time.

hey coinsolidation,
i'm really amazed by your hard work and perseverance
i'd really love to contribute in this project, but i believe the scrypt algorithm in not appropriate enough for it
it would be great if you could use another strong algorithm for this project
but as i understand, you already done most of it under the scrypt

anyway, wish you success

bitmark.co purchased, there is no point having a helpful community if you do not listen to them.

Thank you for the input.

getbitmark.com sounds to me like "faucet" 

bitmark.co, it is short and brandable. Perhaps this domain speaks to potential corporate adopters, or users who trust a corporate approach.
getbitmark.com, this feels familiar as a programmer, the word get makes me feel as a user as if I have now acquired bitmark.

I like both.

"project bitmark" or "bitmark project"? I find myself using both frequently, you should pick one and I will change the repositories to match before we go live.

+1   (more short is, more brandable is)