I'm sure that there is a much larger percentage of Ron Paul supporters in the crypto community than there is in the public at large. I feel like this will provide some support for the coin overall that other coins do not possess. doge is good because people like dogs. rpc is good because of the libertarians and sound money people in the crypto community.
For the most part I could die without ever turning a profit on my rpc investment and be happy. I'm glad that this coin exists because it gets people interested in Dr. Paul and perhaps someone who has not heard of him will look into why he has an alt-coin named after him and be educated.
Some on this thread see this as just another alt to profit from but I think most see it as more than that. To me owning and supporting Ron Paul Coin is a public service and they will have to pry them from my cold dead fingers whatever their value.
Topic: error - page 85. (Read 360507 times)
...
You make good points. Nevertheless, if your cynical trepidation about the price should prove accurate, it speaks only of short term value.
For most of us with great affinity for this coin, it is not a question of "if" we should buy; it is merely a matter of what price to buy them at to acquire the maximum number.
On the one hand, I want to wait and buy them cheaper, if I align with your perspective.
On the other hand, I don't want to be left standing there without any should the price suddenly skyrocket.
Your critical analysis is welcome. I have no question in my mind that this coin is massively valuable in the long term. I want to acquire as many as I can before sweating it out for the long haul. Even after reading your assessment, I still feel something in my gut that won't let me sell and buy at a cheaper price. It's not that I am being unreasonable, I just don't want to miss a huge spike that I sense is coming.
I agree too. Short term logic dictates that the coin should decrease, but it can very well increase by ten folds if people like it and want to invest in it. Hashrate is merely a consequence of the value of the coin.
But there's also another tech aspect not to forget. This coin is only 23 days old. In 3 months, the market cap must be 6 times the current one for the RPC to stay at the same price (>80000 RPC instead of ~13500 RPC).
So if you think in 6 months 1 RPC = 0.1 BTC, you're betting on market cap of no less than 10 million $ instead of the current 200k $.
Don't get me wrong, that's possible, and even more is also possible. But I think this is some nice numbers to put in perspective.
I am also thinking about the difficulty increasing as the price increases (due to increased interest in mining)...and as a result of that, people will have to sell less RPC for more in order to return on investment. If the price decreases, miners will leave. This leaves behind only dedicated miners, who are less likely to dump immediately because they will have already made their ROI, and they have a periphery interest in the coin doing well.
What are your thoughts on this?
...
You make good points. Nevertheless, if your cynical trepidation about the price should prove accurate, it speaks only of short term value.
For most of us with great affinity for this coin, it is not a question of "if" we should buy; it is merely a matter of what price to buy them at to acquire the maximum number.
On the one hand, I want to wait and buy them cheaper, if I align with your perspective.
On the other hand, I don't want to be left standing there without any should the price suddenly skyrocket.
Your critical analysis is welcome. I have no question in my mind that this coin is massively valuable in the long term. I want to acquire as many as I can before sweating it out for the long haul. Even after reading your assessment, I still feel something in my gut that won't let me sell and buy at a cheaper price. It's not that I am being unreasonable, I just don't want to miss a huge spike that I sense is coming.
I agree too. Short term logic dictates that the coin should decrease, but it can very well increase by ten folds if people like it and want to invest in it. Hashrate is merely a consequence of the value of the coin.
But there's also another tech aspect not to forget. This coin is only 23 days old. In 3 months, the market cap must be 6 times the current one for the RPC to stay at the same price (>80000 RPC instead of ~13500 RPC).
So if you think in 6 months 1 RPC = 0.1 BTC, you're betting on market cap of no less than 10 million $ instead of the current 200k $.
Don't get me wrong, that's possible, and even more is also possible. But I think this is some nice numbers to put in perspective.
Does anyone else's wallet update really fast after the update? Almost seems unnatural
I think its because in the update they hard coded in addnodes into the wallet so it does sync faster.
@Mk2rv6
Oh, I wouldn't worry about the government, too much at least.
Reading the congressional review of Bitcoin made me very optimistic:
http://www.fas.org/sgp/crs/misc/R43339.pdf
And reading a recent Haaretz (Israeli Newspaper) article solidified my optimism:
http://www.haaretz.com/business/1.569042
Israeli attorney Shiri Shaham (a specialist in Banking Law): "The government will not be able to prevent the use of Bitcoin. I start from the assumption that there is nothing within the power of the Israeli lawmaker to prevent trading in Bitcoins, even if regulations prohibiting it are passed,” she says. “People who want to get their hands on Bitcoin will always succeed and it would be a pity if were to occur in the shadows and not under the supervision of the banking system.”
Oh, I wouldn't worry about the government, too much at least.
Reading the congressional review of Bitcoin made me very optimistic:
http://www.fas.org/sgp/crs/misc/R43339.pdf
And reading a recent Haaretz (Israeli Newspaper) article solidified my optimism:
http://www.haaretz.com/business/1.569042
Israeli attorney Shiri Shaham (a specialist in Banking Law): "The government will not be able to prevent the use of Bitcoin. I start from the assumption that there is nothing within the power of the Israeli lawmaker to prevent trading in Bitcoins, even if regulations prohibiting it are passed,” she says. “People who want to get their hands on Bitcoin will always succeed and it would be a pity if were to occur in the shadows and not under the supervision of the banking system.”
Guys, I hate being the bringer of bad news, but don't forget that currently this coin brings something like 200 RPC per day on the market instead of 720.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
You assume:
1. that everyone who mines will dump immediately.
2. that people will find it worth their time to mine at that difficulty while selling it at such a low price
3. that people will sell off cheaper than the electricity cost to mine it
4. that even if it were just a "fanboy" coin, it can't do better than a shibe meme fancoin with 100 billion total
5. that very rich people will take no interest, when this is the best, most transparent, non-premined coin out there
6. that the coin has seen all the effects its going to see from Ron Paul's support
I see your argument as relying on these assumptions for its conclusions. I would like to see a reassessment of this post which doesn't rely on extreme cases born these assumptions.
1. Yes the majority of the people will dump, there is far more dumper than investor believing in coins.
2. absolutely not. with a 400MH/s network, you will get 0.009 BTC per MH out of RPC if it is at 0.005 BTC per RPC. That's what middlecoin is currently paying you and what most coins tend to.
3. for it to be cheaper than electricity, with a 400MH/s network, its value should be something like 0.0008 BTC per RPC.
4. if its just a fanboy coin, I don't think it can no. It's far to specific to USA and politic to be. But I might be wrong here. Why not ?
5. nothing to say here, that's not a compelling argument, I can't agree or disagree
6. If there's no ulterior clear support from Ron Paul, that's what I think, yes. But again I might very well be wrong here, and I hope so because I like Ron Paul.
The point of my argument is to tell that simple math show that the new diff algo will NOT increase the coin value by a pure technical side effect. This should be the opposite.
But if there's a real interest in this coin, yes its value can double or triple or even more.
You just have to know that a 0.1 BTC worth ron paul coin would automatically bring a network hashrate of 8GH/s.
You make good points. Nevertheless, if your cynical trepidation about the price should prove accurate, it speaks only of short term value.
For most of us with great affinity for this coin, it is not a question of "if" we should buy; it is merely a matter of what price to buy them at to acquire the maximum number.
On the one hand, I want to wait and buy them cheaper, if I align with your perspective.
On the other hand, I don't want to be left standing there without any should the price suddenly skyrocket.
Your critical analysis is welcome. I have no question in my mind that this coin is massively valuable in the long term. I want to acquire as many as I can before sweating it out for the long haul. Even after reading your assessment, I still feel something in my gut that won't let me sell and buy at a cheaper price. It's not that I am being unreasonable, I just don't want to miss a huge spike that I sense is coming.
I agree here. I'm sitting on a few that I can't seem to shift. I know hardly anything on the economics of this (and even less on the US government!)
I have a feeling once these hit the rest of the exchanges that these will increase substantially.
Guys, I hate being the bringer of bad news, but don't forget that currently this coin brings something like 200 RPC per day on the market instead of 720.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
You assume:
1. that everyone who mines will dump immediately.
2. that people will find it worth their time to mine at that difficulty while selling it at such a low price
3. that people will sell off cheaper than the electricity cost to mine it
4. that even if it were just a "fanboy" coin, it can't do better than a shibe meme fancoin with 100 billion total
5. that very rich people will take no interest, when this is the best, most transparent, non-premined coin out there
6. that the coin has seen all the effects its going to see from Ron Paul's support
I see your argument as relying on these assumptions for its conclusions. I would like to see a reassessment of this post which doesn't rely on extreme cases born these assumptions.
1. Yes the majority of the people will dump, there is far more dumper than investor believing in coins.
2. absolutely not. with a 400MH/s network, you will get 0.009 BTC per MH out of RPC if it is at 0.005 BTC per RPC. That's what middlecoin is currently paying you and what most coins tend to.
3. for it to be cheaper than electricity, with a 400MH/s network, its value should be something like 0.0008 BTC per RPC.
4. if its just a fanboy coin, I don't think it can no. It's far to specific to USA and politic to be. But I might be wrong here. Why not ?
5. nothing to say here, that's not a compelling argument, I can't agree or disagree
6. If there's no ulterior clear support from Ron Paul, that's what I think, yes. But again I might very well be wrong here, and I hope so because I like Ron Paul.
The point of my argument is to tell that simple math show that the new diff algo will NOT increase the coin value by a pure technical side effect. This should be the opposite.
But if there's a real interest in this coin, yes its value can double or triple or even more.
You just have to know that a 0.1 BTC worth ron paul coin would automatically bring a network hashrate of 8GH/s.
You make good points. Nevertheless, if your cynical trepidation about the price should prove accurate, it speaks only of short term value.
For most of us with great affinity for this coin, it is not a question of "if" we should buy; it is merely a matter of what price to buy them at to acquire the maximum number.
On the one hand, I want to wait and buy them cheaper, if I align with your perspective.
On the other hand, I don't want to be left standing there without any should the price suddenly skyrocket.
Your critical analysis is welcome. I have no question in my mind that this coin is massively valuable in the long term. I want to acquire as many as I can before sweating it out for the long haul. Even after reading your assessment, I still feel something in my gut that won't let me sell and buy at a cheaper price. It's not that I am being unreasonable, I just don't want to miss a huge spike that I sense is coming.
Guys, I hate being the bringer of bad news, but don't forget that currently this coin brings something like 200 RPC per day on the market instead of 720.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
You assume:
1. that everyone who mines will dump immediately.
2. that people will find it worth their time to mine at that difficulty while selling it at such a low price
3. that people will sell off cheaper than the electricity cost to mine it
4. that even if it were just a "fanboy" coin, it can't do better than a shibe meme fancoin with 100 billion total
5. that very rich people will take no interest, when this is the best, most transparent, non-premined coin out there
6. that the coin has seen all the effects its going to see from Ron Paul's support
I see your argument as relying on these assumptions for its conclusions. I would like to see a reassessment of this post which doesn't rely on extreme cases born these assumptions.
1. Yes the majority of the people will dump, there is far more dumper than investor believing in coins.
2. absolutely not. with a 400MH/s network, you will get 0.009 BTC per MH out of RPC if it is at 0.005 BTC per RPC. That's what middlecoin is currently paying you and what most coins tend to.
3. for it to be cheaper than electricity, with a 400MH/s network, its value should be something like 0.0008 BTC per RPC.
4. if its just a fanboy coin, I don't think it can no. It's far to specific to USA and politic to be. But I might be wrong here. Why not ?
5. nothing to say here, that's not a compelling argument, I can't agree or disagree
6. If there's no ulterior clear support from Ron Paul, that's what I think, yes. But again I might very well be wrong here, and I hope so because I like Ron Paul.
The point of my argument is to tell that simple math show that the new diff algo will NOT increase the coin value by a pure technical side effect. This should be the opposite.
But if there's a real interest in this coin, yes its value can double or triple or even more.
You just have to know that a 0.1 BTC worth ron paul coin would automatically bring a network hashrate of 8GH/s.
Guys, I hate being the bringer of bad news, but don't forget that currently this coin brings something like 200 RPC per day on the market instead of 720.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
You assume:
1. that everyone who mines will dump immediately.
2. that people will find it worth their time to mine at that difficulty while selling it at such a low price
3. that people will sell off cheaper than the electricity cost to mine it
4. that even if it were just a "fanboy" coin, it can't do better than a shibe meme fancoin with 100 billion total (although you didn't mention DOGE specifically, this is in essence what you are saying)
5. that very rich people will take no interest, when this is the best, most transparent, non-premined coin out there
6. that the coin has seen all the effects its going to see from Ron Paul's support
I see your argument as relying on these assumptions for its conclusions. Since you say, "may the future prove me wrong," I would like to see a reassessment of this post which doesn't rely on extreme cases born these assumptions.
btw...still evaluating your math
That wasn't my RPC stash. I'm guessing it could have been someone who knew that dogecoin is eventually going to go to 200 satoshi, and wanted to get on that even before the supposed rise in RPC price is going to happen (possibly even a week from now). However, I heard it should stay at 150 for awhile. I came close to listing my stash. But I'm actually still hoping that RPC goes up to 0.1, or even further. If you believe DreadPirateDickstein (or whoever that is) on the official RPC forum, then there's still a lot of potential for this coin, because of the Potential Action that people could take to make it have a future of some sort, related to campaigning if you will. Then I can possibly still make it for a very slight dogecoin push since I appear to be on board that train as well (in the future). Actually, I did sell a tiny bit of RPC a couple days ago, since I knew DOG would go up. It's only a little bit. However, since dogecoin is now around 150 satoshi, and I have indeed made a tiny bit of profit on that, I really plan on putting it back into RPC. Although, 200 satoshi doge I hear is the minimum that the pumper of that coin wants to push it. And who knows if other whales (supposedly there already are) will feel the desire to push that coin to even more ridiculous levels. IMO the level of hype for dogecoin is going to put RPC-related campaigning/etc. to be on complete hold temporarily.
I only see 3 p2pool instances running out there so far. Let's go people!
Back down to 2, 3rd was only online for about an hour it seems. I'll keep mine online to secure the pool though :-)
I'll work on a noob/windows one this evening. Unless (hopefully) someone beats me to it.
Assuming one has no idea about command line code, programming and whatnot, please completely noob-ify these instructions and some of us might actually be able to get this up and running.
I only see 3 p2pool instances running out there so far. Let's go people!
2014-01-20 10:43:03.148957 P2Pool: 1917 shares in chain (1921 verified/1921 total) Peers: 3
2014-01-20 10:43:03.149118 Pool: 1661kH/s Stale rate: 1.1% Expected time to block: 2.3 days
2014-01-20 10:43:03.148957 P2Pool: 1917 shares in chain (1921 verified/1921 total) Peers: 3
2014-01-20 10:43:03.149118 Pool: 1661kH/s Stale rate: 1.1% Expected time to block: 2.3 days
Quick howto: run p2pool for RonPaulCoin locally.
Why? Because Ron Paul stands against centralized power, and so should we. See more reasons below.
Installing p2pool
$ git clone https://github.com/Rav3nPL/p2pool-rav
$ cd p2pool-rav
$ git checkout rpcoin
Starting p2pool
./run_p2pool.py --net rpcoin
Mining with p2pool
Then point your mining software (eg cgminer) at it.
pool url is: stratum+tcp://localhost:9127
worker user should be your ronpaulcoin address.
worker password is ignored.
Why p2pool?
* totally decentralized. no central point of failure. as per Satoshi's vision. Ron would approve.
* you never have to trust an exchange operator to payout correctly.
* you get your address directly in the coinbase transaction.
* you don't have to pay any fee, ever. but you can donate.
* you always get your share of the transaction fees also.
* you will be one of the cool kids. ;-)
Why run p2pool locally myself when I can more easily connect to a p2pool server setup by someone else?
* If you do not, most of the above points disappear, and you are essentially just using another central pool.
* If few or no people run locally, then we no longer have a decentralized pool.
Why? Because Ron Paul stands against centralized power, and so should we. See more reasons below.
Installing p2pool
$ git clone https://github.com/Rav3nPL/p2pool-rav
$ cd p2pool-rav
$ git checkout rpcoin
Starting p2pool
./run_p2pool.py --net rpcoin
Mining with p2pool
Then point your mining software (eg cgminer) at it.
pool url is: stratum+tcp://localhost:9127
worker user should be your ronpaulcoin address.
worker password is ignored.
Why p2pool?
* totally decentralized. no central point of failure. as per Satoshi's vision. Ron would approve.
* you never have to trust an exchange operator to payout correctly.
* you get your address directly in the coinbase transaction.
* you don't have to pay any fee, ever. but you can donate.
* you always get your share of the transaction fees also.
* you will be one of the cool kids. ;-)
Why run p2pool locally myself when I can more easily connect to a p2pool server setup by someone else?
* If you do not, most of the above points disappear, and you are essentially just using another central pool.
* If few or no people run locally, then we no longer have a decentralized pool.
Assuming one has no idea about command line code, programming and whatnot, please completely noob-ify these instructions and some of us might actually be able to get this up and running.
Like, I have really no idea what this means:
$ git clone https://github.com/Rav3nPL/p2pool-rav
$ cd p2pool-rav
$ git checkout rpcoin
Guys, I hate being the bringer of bad news, but don't forget that currently this coin brings something like 200 RPC per day on the market instead of 720.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
All of this because we have something like 720 RPC mined in 2 3 hours, then 720 RPC mined again in 3 hours if it's still profitable, and then 720 RPC mined in 10 days.
When the diff retargets and is in the good range, which is nearly 1 week after the fork begins (yes, that's nearly 2 weeks from now, see one of my previous post for the explanation), we will have 720 RPC per day for real.
To maintain the current price of 0.02 BTC per RPC, we would need a buying power of 14 to 15 BTC per day.
If it's stable at this price, hashpower would then go up to 1.5GH/s constantly, making it one of the star coins of the moment (EAC has currently 1.8GH/s).
Ron Paul already talked of this coin, but it didn't have any effect on its value even if its scarcity is 3x more than its intended original one.
If there's no future plan that really make this coin something more than just a "ron paul fanboy coin", It's just gonna be a good stable coin with a few hundred MH/s of hashing power, and that's all.
But with 400 MH/s on average on the network, its value would divide by 5, down to 0.004 or 0.005 BTC per RPC.
May the future prove me wrong.
Quick howto: run p2pool for RonPaulCoin locally.
Why? Because Ron Paul stands against centralized power, and so should we. See more reasons below.
Installing p2pool
$ git clone https://github.com/Rav3nPL/p2pool-rav
$ cd p2pool-rav
$ git checkout rpcoin
Starting p2pool
./run_p2pool.py --net rpcoin
Mining with p2pool
Then point your mining software (eg cgminer) at it.
pool url is: stratum+tcp://localhost:9127
worker user should be your ronpaulcoin address.
worker password is ignored.
Why p2pool?
* totally decentralized. no central point of failure. as per Satoshi's vision. Ron would approve.
* you never have to trust an exchange operator to payout correctly.
* you get your address directly in the coinbase transaction.
* you don't have to pay any fee, ever. but you can donate.
* you always get your share of the transaction fees also.
* you will be one of the cool kids. ;-)
Why run p2pool locally myself when I can more easily connect to a p2pool server setup by someone else?
* If you do not, most of the above points disappear, and you are essentially just using another central pool.
* If few or no people run locally, then we no longer have a decentralized pool.
Why? Because Ron Paul stands against centralized power, and so should we. See more reasons below.
Installing p2pool
$ git clone https://github.com/Rav3nPL/p2pool-rav
$ cd p2pool-rav
$ git checkout rpcoin
Starting p2pool
./run_p2pool.py --net rpcoin
Mining with p2pool
Then point your mining software (eg cgminer) at it.
pool url is: stratum+tcp://localhost:9127
worker user should be your ronpaulcoin address.
worker password is ignored.
Why p2pool?
* totally decentralized. no central point of failure. as per Satoshi's vision. Ron would approve.
* you never have to trust an exchange operator to payout correctly.
* you get your address directly in the coinbase transaction.
* you don't have to pay any fee, ever. but you can donate.
* you always get your share of the transaction fees also.
* you will be one of the cool kids. ;-)
Why run p2pool locally myself when I can more easily connect to a p2pool server setup by someone else?
* If you do not, most of the above points disappear, and you are essentially just using another central pool.
* If few or no people run locally, then we no longer have a decentralized pool.
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