[♔] British Digital Currency | 5% annual PoS - Bittrex - Fiat to BritCoin [BRIT] - page 60.

dennemann

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Quote from: Goldshredder on July 11, 2014, 11:32:25 PM

The problem with mining Bitcoin with a multipool is that, unless that multipool has a metric shitload of hash on SHA256, a block will never be found, and the mining is wasted. That's one of the major reasons why the smaller SHA256 coins are, for many miners, more profitable in real terms - because you actually get something rather than nothing.

Yeah bitcoin is pretty useless to mine at this point.

Goldshredder

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The problem with mining Bitcoin with a multipool is that, unless that multipool has a metric shitload of hash on SHA256, a block will never be found, and the mining is wasted. That's one of the major reasons why the smaller SHA256 coins are, for many miners, more profitable in real terms - because you actually get something rather than nothing.

will7am

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Will add a quick guide .pdf tomorrow morning, it's getting late here.

Thanks for the suggestion.

Good night! Hold your coins tight.

Quote from: Soul_eater_123 on July 11, 2014, 07:58:26 PM

Quote from: will7am on July 11, 2014, 07:17:15 PM

I agree, we will have more control over which (more profitable) coins are mined, also some people find CoinKing quite confusing on first use, I sure did.

Might be useful to have a guide (with a link in the OP) to explain step by step how to get mining on CoinKing.

Soul_eater_123

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Quote from: will7am on July 11, 2014, 07:17:15 PM

I agree, we will have more control over which (more profitable) coins are mined, also some people find CoinKing quite confusing on first use, I sure did.

Might be useful to have a guide (with a link in the OP) to explain step by step how to get mining on CoinKing.

will7am

legendary

Activity: 973

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I agree, we will have more control over which (more profitable) coins are mined, also some people find CoinKing quite confusing on first use, I sure did.

Quote from: Soul_eater_123 on July 11, 2014, 06:47:17 PM

Quote

Great news. When it is up I will mine in there.

No definite time yet. They said at least 24 hrs but I'm still not sure if I'll need to do any tinkering with it/need any assistance. That's why I'm happy CoinKing is working - means there's no rush. Their interface and setup is really easy to use and I've already got my miners on there until my pool gets setup.

Assuming I get the Livechains thing working well we could consider changing the coin list/algos to varieties that Coinking don't currently have so that it would be an adjunct rather than an alternative (e.g. CPU coins like memory coin, cryptonite coins etc).

Soul_eater_123

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Quote

Great news. When it is up I will mine in there.

No definite time yet. They said at least 24 hrs but I'm still not sure if I'll need to do any tinkering with it/need any assistance. That's why I'm happy CoinKing is working - means there's no rush. Their interface and setup is really easy to use and I've already got my miners on there until my pool gets setup.

Assuming I get the Livechains thing working well we could consider changing the coin list/algos to varieties that Coinking don't currently have so that it would be an adjunct rather than an alternative (e.g. CPU coins like memory coin, cryptonite coins etc).

rghmodz

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Activity: 625

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A Decentralised Hedge Fund

Quote from: Soul_eater_123 on July 11, 2014, 05:18:08 PM

In alternative pool news: - Livechains were waiting for me to supply them with a full list of 10 coins - which I've done now. They have told me it usually takes another 24 hours or so to get setup. Obviously if it all works all right and I can bring in enough in fees to pay the server charges we could add more coins later. Contrary to what I thought the Livechains pools do actually do profit switching automatically, so for example you choose the algorithm and they switch to the more profitable coin. I've chosen these for the final list :

Bitcoin (SHA-256)
Fuelcoin(SHA-256)
Darkcoin (X11)
Global Denomination Coin (X11)
CryptCoin (X11)
Hirocoin (X11)
Litecoin (SCRYPT)
Vertcoin (SCRYPT-N)
Dirac (BLAKE 256)
N5coin (NIST5)

I went for more X11 coins due to it being summer and people (myself included) seeming to prefer the lower heat output nowadays. The difference in profitablility of SCRYPT coins was so small that I thought it best to just go with LTC initially which seems most consistent over time and the differences between coins are very small in terms of profit. Similarly the rarer algorithms are also there more as a test. Like I said if it all works right and I can afford it we can add in more according to what is profitable.

Great news. When it is up I will mine in there.

will7am

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Thanks for the update, good to hear they do have profit switching.

Can't argue with the list either.

Quote from: Soul_eater_123 on July 11, 2014, 05:18:08 PM

In alternative pool news: - Livechains were waiting for me to supply them with a full list of 10 coins - which I've done now. They have told me it usually takes another 24 hours or so to get setup. Obviously if it all works all right and I can bring in enough in fees to pay the server charges we could add more coins later. Contrary to what I thought the Livechains pools do actually do profit switching automatically, so for example you choose the algorithm and they switch to the more profitable coin. I've chosen these for the final list :

Bitcoin (SHA-256)
Fuelcoin(SHA-256)
Darkcoin (X11)
Global Denomination Coin (X11)
CryptCoin (X11)
Hirocoin (X11)
Litecoin (SCRYPT)
Vertcoin (SCRYPT-N)
Dirac (BLAKE 256)
N5coin (NIST5)

I went for more X11 coins due to it being summer and people (myself included) seeming to prefer the lower heat output nowadays. The difference in profitablility of SCRYPT coins was so small that I thought it best to just go with LTC initially which seems most consistent over time and the differences between coins are very small in terms of profit. Similarly the rarer algorithms are also there more as a test. Like I said if it all works right and I can afford it we can add in more according to what is profitable.

Soul_eater_123

legendary

Activity: 952

Merit: 1000

In alternative pool news: - Livechains were waiting for me to supply them with a full list of 10 coins - which I've done now. They have told me it usually takes another 24 hours or so to get setup. Obviously if it all works all right and I can bring in enough in fees to pay the server charges we could add more coins later. Contrary to what I thought the Livechains pools do actually do profit switching automatically, so for example you choose the algorithm and they switch to the more profitable coin. I've chosen these for the final list :

Bitcoin (SHA-256)
Fuelcoin(SHA-256)
Darkcoin (X11)
Global Denomination Coin (X11)
CryptCoin (X11)
Hirocoin (X11)
Litecoin (SCRYPT)
Vertcoin (SCRYPT-N)
Dirac (BLAKE 256)
N5coin (NIST5)

I went for more X11 coins due to it being summer and people (myself included) seeming to prefer the lower heat output nowadays. The difference in profitablility of SCRYPT coins was so small that I thought it best to just go with LTC initially which seems most consistent over time and the differences between coins are very small in terms of profit. Similarly the rarer algorithms are also there more as a test. Like I said if it all works right and I can afford it we can add in more according to what is profitable.

will7am

legendary

Activity: 973

Merit: 1000

Multipool is now online! You can now mine the most profitable coins annd be paid out in BritCoins. After signing up remember to change your payout coin setting to BritCoin! If anyone need any help, just ask!

http://CoinKing.io/

I will update the OP with the new multipool now.

will7am

legendary

Activity: 973

Merit: 1000

Haha +

Quote from: dennemann on July 11, 2014, 03:48:10 PM

dennemann

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will7am

legendary

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We are expecting our multipool to go live in a matter of hours now! Get ready to mine guys! Cheesy

will7am

legendary

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Thanks for being so understanding, we are in a rush to get a multipool online as you can tell. But it's always a good idea to have a backup

Quote from: Soul_eater_123 on July 11, 2014, 02:01:48 PM

Quote from: numanoid on July 11, 2014, 11:58:34 AM

Quote from: will7am on July 11, 2014, 11:16:45 AM

We should have a multipool up tonight, if not tomorrow courtesy of CoinKing.

Stay tuned!

I had a feeling it was going to be them. I saw the coin listed there in a drop down after PoW ended.

Yes it's probably best to go with them for now because they know what they are doing. We can keep Livechains in reserve or as an experiment because I still haven't heard back from them which might be because they are having issues (e.g. due to BRIT not being on Cryptsy). Right now actually having a pool running is more important than which one it is or who is running it:)

Soul_eater_123

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Activity: 952

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Quote from: numanoid on July 11, 2014, 11:58:34 AM

Quote from: will7am on July 11, 2014, 11:16:45 AM

We should have a multipool up tonight, if not tomorrow courtesy of CoinKing.

Stay tuned!

I had a feeling it was going to be them. I saw the coin listed there in a drop down after PoW ended.

Yes it's probably best to go with them for now because they know what they are doing. We can keep Livechains in reserve or as an experiment because I still haven't heard back from them which might be because they are having issues (e.g. due to BRIT not being on Cryptsy). Right now actually having a pool running is more important than which one it is or who is running it:)

rghmodz

hero member

Activity: 625

Merit: 500

A Decentralised Hedge Fund

Quote from: will7am on July 11, 2014, 11:16:45 AM

We should have a multipool up tonight, if not tomorrow courtesy of CoinKing.

Stay tuned!

Good. That is great news

will7am

legendary

Activity: 973

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We are currently looking for a Media/PR person to help BritCoin gain some publicity, by emailing tech/general related online publishers etc. The bounty for this is 5,000 Brits per week.

Let me know if you're interested, send a pm here or email [email protected].

Friendly reminder to take part in our Twitter competition. Tweet to @BBCTech about BritCoin for a chance to win 1,000Brits! Competition end next wednesday and there haven't been many entrants!

numanoid

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Activity: 1890

Merit: 1148

Quote from: will7am on July 11, 2014, 11:16:45 AM

We should have a multipool up tonight, if not tomorrow courtesy of CoinKing.

Stay tuned!

I had a feeling it was going to be them. I saw the coin listed there in a drop down after PoW ended.

will7am

legendary

Activity: 973

Merit: 1000

We should have a multipool up tonight, if not tomorrow courtesy of CoinKing.

Stay tuned!

kotwica666

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Merit: 1035

Quote from: will7am on July 11, 2014, 09:51:16 AM

Hey guys, just in case you think I'm slacking off I thought I'd update you with what we've been busy doing. The lest few days I've been sending endless emails and getting in contact with a range of different partners for BritCoin, including multipool owners and crypto marketplace services and more.

I don't want you to think we've given up because the price is low.. We have some big aspirations for BritCoin and know we're still in the very early days. Remember, this is a great time to buy so be patient and you'll be rewarded.

+1

Topic: [♔] British Digital Currency | 5% annual PoS - Bittrex - Fiat to BritCoin [BRIT] - page 60. (Read 125107 times)