Topic: BitShares PTS (formerly ProtoShares) Mandatory Upgrade & Snapshot Announcement - page 55. (Read 218419 times)
November 06, 2013, 11:02:22 PM
Now the reward for block is 42.125 PTS.
November 06, 2013, 10:59:04 PM
I believe someone is already GPU mining it and planning to dump thousands of coins.
And your evidence for this is what?People kept believing that Primecoin was being GPU mined, without any evidence. And still no-one has admitted to being able to mine it on GPUs, the two well publicised efforts both ending in failure.
November 06, 2013, 10:25:09 PM
Its time to stop mining. This coin is not profitable to mine.
There isn't even an established market price.But we know the drill, mine the coin while people figure out it exists / how to mine it.
Whatever the price is, you wont get very main coins. You'll be lucky if you can get 100 and that is around half a Bitcoin. It's profitable now but it wont be once difficulty goes up.
Its time to stop mining. This coin is not profitable to mine.
How can you make that conclusion when you don't know the future value of the coin?
Doesn't it largely depend on whether the coin will be truly CPU-only or not?
Or are you saying you can buy the coin for less than the cost to mine it?
I believe someone is already GPU mining it and planning to dump thousands of coins. I would not count on it being profitable to mine. Where are all the coins going? Seems no one has more than a few hundred. The people who get thousands will be the professional mining companies like Ciphermine.
Agreed, much if nothing else than because that is how the crypto scene works these days. That being said, it is at least refreshing to see something different algo wise even if the 'cpu-only' claim stands up so long.
Let's not kid ourselves, this is just another scam coin BUT might be worth a fun ride in the end
November 06, 2013, 09:45:39 PM
Its time to stop mining. This coin is not profitable to mine.
There isn't even an established market price.But we know the drill, mine the coin while people figure out it exists / how to mine it.
Whatever the price is, you wont get very main coins. You'll be lucky if you can get 100 and that is around half a Bitcoin. It's profitable now but it wont be once difficulty goes up.
Its time to stop mining. This coin is not profitable to mine.
How can you make that conclusion when you don't know the future value of the coin?
Doesn't it largely depend on whether the coin will be truly CPU-only or not?
Or are you saying you can buy the coin for less than the cost to mine it?
I believe someone is already GPU mining it and planning to dump thousands of coins. I would not count on it being profitable to mine. Where are all the coins going? Seems no one has more than a few hundred. The people who get thousands will be the professional mining companies like Ciphermine.
November 06, 2013, 09:37:41 PM
Its time to stop mining. This coin is not profitable to mine.
How can you make that conclusion when you don't know the future value of the coin?
Doesn't it largely depend on whether the coin will be truly CPU-only or not?
Or are you saying you can buy the coin for less than the cost to mine it?
November 06, 2013, 09:36:11 PM
Its time to stop mining. This coin is not profitable to mine.
November 06, 2013, 09:26:12 PM
ProtoShares
ProtoShares uses a new Momentum Proof of Work (POW) algorithm that is designed to be GPU and ASIC resistant.
http://invictus-innovations.com/s/MomentumProofOfWork.pdf
There's a $5000 bounty for anyone who can prove it is vulnerable to GPUs or ASICs.
http://bitsharestalk.org/index.php?topic=22.0
ProtoShares uses a new Momentum Proof of Work (POW) algorithm that is designed to be GPU and ASIC resistant.
http://invictus-innovations.com/s/MomentumProofOfWork.pdf
There's a $5000 bounty for anyone who can prove it is vulnerable to GPUs or ASICs.
http://bitsharestalk.org/index.php?topic=22.0
http://bitsharestalk.org/index.php?topic=22.msg597#msg597
It is possible I am incorrect or have misunderstood some aspect of the algorithm, so let's not jump to conclusions yet.
Bytemaster is very slow to refute my last posts, thus I am assuming I am correct and this coin is vulnerable to GPU mining:
http://bitsharestalk.org/index.php?topic=22.msg818#msg818
However, again let's not jump to conclusions and wait for bytemaster to respond again. He obviously read my last posts immediately and has delayed responding.
November 06, 2013, 08:29:12 PM
Does someone know how to calculate the average time to find a block, given Mhash/min and difficulty?
I think this is the formula, but I'm not sure:
difficulty (started at 0.00000095) * 2^32 / hashrate per minute
This should give you the average time to find a block in minutes.
I'm not at all sure, but this seems to be in the right ballpark. 8 hours for 10 hashes per minute at the initial difficulty, 27 hours for 10 hashes per minute at the now 0.00000384 difficulty.
November 06, 2013, 08:21:25 PM
Does someone know how to calculate the average time to find a block, given Mhash/min and difficulty?
Hmm, no...not realy, hope some one else can help you with that. I would aswell be interrested in that.
OH, that looks bad...so is the code broken? Even thogh difficulty went up the block time is still way too fast 
I'm guessing someone has found a very cost-efficient way to mine. Since the adjustment takes place every 4032 blocks, at this rate, we'll be seeing a new difficulty by tomorrow.
Well, that would be bad if one person alone is geting most of them, I hope not
The coins per block seems to be decreasing as it should so regardless of what happens with the difficulty the total number of coins mined should stay the same. It all just might happen faster.
Well, that is true...though hope that it is not one person alone geting all/most of the PTS
I think people who have mined unsuccessfully have just been louder but that's just my perspective since I found several blocks with just 2 processes running since this thing started. Since most people seem to hate variance, I think the sooner this coin gets functioning pools the better.
I could not agree more, wee need a pool ASAP
November 06, 2013, 08:11:04 PM
OH, that looks bad...so is the code broken? Even thogh difficulty went up the block time is still way too fast
I'm guessing someone has found a very cost-efficient way to mine. Since the adjustment takes place every 4032 blocks, at this rate, we'll be seeing a new difficulty by tomorrow.
Well, that would be bad if one person alone is geting most of them, I hope not
The coins per block seems to be decreasing as it should so regardless of what happens with the difficulty the total number of coins mined should stay the same. It all just might happen faster.
Well, that is true...though hope that it is not one person alone geting all/most of the PTS
I think people who have mined unsuccessfully have just been louder but that's just my perspective since I found several blocks with just 2 processes running since this thing started. Since most people seem to hate variance, I think the sooner this coin gets functioning pools the better.
November 06, 2013, 08:07:34 PM
Does someone know how to calculate the average time to find a block, given Mhash/min and difficulty?
November 06, 2013, 08:04:37 PM
OH, that looks bad...so is the code broken? Even thogh difficulty went up the block time is still way too fast
I'm guessing someone has found a very cost-efficient way to mine. Since the adjustment takes place every 4032 blocks, at this rate, we'll be seeing a new difficulty by tomorrow.
Well, that would be bad if one person alone is geting most of them, I hope not
The coins per block seems to be decreasing as it should so regardless of what happens with the difficulty the total number of coins mined should stay the same. It all just might happen faster.
Well, that is true...though hope that it is not one person alone geting all/most of the PTS
November 06, 2013, 07:56:59 PM
The coins per block seems to be decreasing as it should so regardless of what happens with the difficulty the total number of coins mined should stay the same. It all just might happen faster.
November 06, 2013, 07:52:34 PM
OH, that looks bad...so is the code broken? Even thogh difficulty went up the block time is still way too fast
I'm guessing someone has found a very cost-efficient way to mine. Since the adjustment takes place every 4032 blocks, at this rate, we'll be seeing a new difficulty by tomorrow.
November 06, 2013, 07:48:41 PM
OH, that looks bad...so is the code broken? Even thogh difficulty went up the block time is still way too fast
November 06, 2013, 07:42:56 PM
Sigh... Left my machines mining through the night again, zero blocks. 7.4hpm (split into 4 threads of 1.85 hpm) plus 10.8 hpm (4 times 2.7 hpm).
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Same here, runing 2x 8,5 hpm (17hpm total) and only found one block....what internet speed do you have?What ping do you have to US or EU ?
I am wondering if that might be the problem (as I have a high ping to US and EU )
If you want to check how many orphan blocks you may have found, go to Help -> Debug Window -> Information -> Open (debug log)
Look for "generated block is stale".
Each one is where you found a block, but someone beat you to it.
Thanks for the info, now I know why I get none
I've been running this on multiple machines. I'm finding that I get roughly 2-3 stales for each actual mined block. The mining hasn't seemed to slow down much (still 1/min or so), so expect some more of this orphaned block business.
November 06, 2013, 07:36:34 PM
Sigh... Left my machines mining through the night again, zero blocks. 7.4hpm (split into 4 threads of 1.85 hpm) plus 10.8 hpm (4 times 2.7 hpm).
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Same here, runing 2x 8,5 hpm (17hpm total) and only found one block....what internet speed do you have?What ping do you have to US or EU ?
I am wondering if that might be the problem (as I have a high ping to US and EU )
If you want to check how many orphan blocks you may have found, go to Help -> Debug Window -> Information -> Open (debug log)
Look for "generated block is stale".
Each one is where you found a block, but someone beat you to it.
OK, that would do it, I have 11 stalles
Thanks for the info, now I know why I get none
November 06, 2013, 07:29:57 PM
Sigh... Left my machines mining through the night again, zero blocks. 7.4hpm (split into 4 threads of 1.85 hpm) plus 10.8 hpm (4 times 2.7 hpm).
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Same here, runing 2x 8,5 hpm (17hpm total) and only found one block....what internet speed do you have?What ping do you have to US or EU ?
I am wondering if that might be the problem (as I have a high ping to US and EU )
If you want to check how many orphan blocks you may have found, go to Help -> Debug Window -> Information -> Open (debug log)
Look for "generated block is stale".
Each one is where you found a block, but someone beat you to it.
Ah... 3 stales on the slow machine... not sure how much on the faster machine (not with me now)
For some reason, when I closed one of the clients by the stop command I got a BSOD via ndis.sys. Someone suggested that it might be due to Avast, anyone else have this problem?
November 06, 2013, 07:29:12 PM
Sigh... Left my machines mining through the night again, zero blocks. 7.4hpm (split into 4 threads of 1.85 hpm) plus 10.8 hpm (4 times 2.7 hpm).
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Same here, runing 2x 8,5 hpm (17hpm total) and only found one block....what internet speed do you have?What ping do you have to US or EU ?
I am wondering if that might be the problem (as I have a high ping to US and EU )
If you want to check how many orphan blocks you may have found, go to Help -> Debug Window -> Information -> Open (debug log)
Look for "generated block is stale".
Each one is where you found a block, but someone beat you to it.
November 06, 2013, 07:23:57 PM
Sigh... Left my machines mining through the night again, zero blocks. 7.4hpm (split into 4 threads of 1.85 hpm) plus 10.8 hpm (4 times 2.7 hpm).
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Mysteriously, my 7.4hpm machine has been mining for nearly 40 hours straight and never found a block. In reality, it should have found 3 to 4 blocks. Does splitting into more processes reduce the effectiveness of mining? (It shouldn't, but I'm going to ask just in case). Or am I just extremely (<2% chance) unlucky?
Same here, runing 2x 8,5 hpm (17hpm total) and only found one block....what internet speed do you have?What ping do you have to US or EU ?
I am wondering if that might be the problem (as I have a high ping to US and EU )
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