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Topic: MemoryCoin 2.0 (MMC) - GPU or CPU or Cloud Mining? (Read 1696 times)

member
Activity: 71
Merit: 10
Here is FreeTrade's blog post on MemoryCoin's website

http://memorycoin.org/gpu-miner/

Since there is no point posting in FreeTrade's thread because posts get deleted - I want to point out


Quote
One way to approach the problem is to have a very complex algorithm – this is the protection afforded by Quark and PrimeCoin. The proof-of-work is so complicated that it takes a long time to develop code that will run well on GPUs. When the code is developed, it represents a big investment and so is unlikely to be released. You won’t even hear about it while it is profitable to its creators. When GPU miners are eventually released, they will blow CPU miners out of the water. This approach is a short-term one.

The reason coins use a complex algorithm, is so that people *cant* create a GPU miner for it, it's not because it takes longer for them to develop it, it's because the GPU's aren't capable of handling the instructions and calculations in the algorithm any faster than a CPU.

"Short-Term" is having a GPU miner released the day after the source code gets released (which was 2 weeks after the mining started)

Quote
MemoryCoin’s algorithm does this by maximizing main memory use and using the AES-NI set that modern CPUs have. However, even with these measures, GPUs can still beat CPUs. The algorithm is simple and so GPU miners have appeared publicly and rapidly.

Wait... so you knew this algorithm was able to be mined with a GPU *BEFORE* you wrote the code - but still marketed it as a "GPU Resistant" coin - because it required 1 gig of RAM to do the encryption?

Quote
The upside is that the GPUs are limited in their advantage over CPUs. They are between 2 or 3 times faster per dollar. Compare that to 100X for Bitcoin or 10X for Litecoin. This means CPUs will continue to be viable and we’re unlikely to see GPU farms built for, nor directed, at MemoryCoin.

Once again, more bullshit! It's in the official MemoryCoin 2.0 thread (until you delete the post of course) that people are reporting 10x higher hashrates using GPU than CPU - I think you should be saying ASIC instead of GPU farm, because people already have these farms from bitcoins/litecoins/doges/moon and will use them to mine the next big thing - then dump it on the market a few days later with high profits.

Why are you still presenting false/misleading information to the community about your coin?
member
Activity: 71
Merit: 10
FreeTrade you deleted at least 3 of my post's saying I was struggling to get a block, and I was mining from the VERY FIRST DAY the coin was released. You also deleted posts from OTHER people who complained about not being able to get blocks - can you explain why you deleted posts from people with genuine problems who were trying to support your coin?

Don't remember that happening - you should have received the deleted post by email - if so, post it here.

How exactly is MemoryCoin 2.0 "the most GPU resistant coin so far", when you have announced GPU mining on your ANN thread? What about QRK / SRC ? I don't see any GPU mining software for those currencies.

As I say, it'll take a blog post to explain properly - it's not a simple matter.

GPU Resistant != GPU Proof

and

No GPU Miner Available != GPU Resistant

All my email notifications are turned off due to the high amount of traffic here...

But honestly, it looks like you were aware of this problem right from the start, you didn't choose *any* GPU resistant algorithms, the source code for OpenCL AES and SHA decryption have been available for over 2 years

Were you aware of this when you developed MMC?



member
Activity: 71
Merit: 10
I've been following this coin from it's original announcement and thing's are starting to look a bit strange /confusing - so I'm hoping someone (maybe even the Dev) can answer questions. The posts I have made in the Announcement thread keep being deleted

Only really been deleting buy/sell requests early on because they were cluttering up the thread, and trolling of course.

Did anyone else have ZERO results solo mining MMC? I tried for a few days with 3 CPU mining system and got ZERO results solo mining...

Blocks were worth $125 each so they were difficult to get.

How come this coin was originally marketed as a CPU coin, yet now advertises it has a GPU mining pool?

That's a good question, and I'm going to to need a blog post to explain it fully. Short answer - it's the most GPU resistant coin so far, but GPUs still have an advantage. Our aim is to keep CPUs in the game long term and we think we're succeeding in this.

How come the source code was released AFTER the pre-compiled windows version?
I think that was for a matter of minutes - it was to prevent people jumping the gun on mining before the release time as happened with ProtoShares.

Does this coin need a Cloud Mining system to be viable now?

No, pool mining with equipment you already own is the most cost effective way to mine this coin.

Also - what exactly is the pre-mined coins going to - holders of other coins and the original MemoryCoin Beta? How does this work...

Owners of the original MemoryCoin to reward their participation - it wouldn't have been fair to wipe them out. 1% to Protoshares holders to help distribution and marketing. Difficult to say what percentage of these coins will be redeemed - I'd guess a fair percentage of them will simply be lost.
 



FreeTrade you deleted at least 3 of my post's saying I was struggling to get a block, and I was mining from the VERY FIRST DAY the coin was released. You also deleted posts from OTHER people who complained about not being able to get blocks - can you explain why you deleted posts from people with genuine problems who were trying to support your coin?

How exactly is MemoryCoin 2.0 "the most GPU resistant coin so far", when you have announced GPU mining on your ANN thread? What about QRK / SRC ? I don't see any GPU mining software for those currencies.
legendary
Activity: 1428
Merit: 1030
I've been following this coin from it's original announcement and thing's are starting to look a bit strange /confusing - so I'm hoping someone (maybe even the Dev) can answer questions. The posts I have made in the Announcement thread keep being deleted

Only really been deleting buy/sell requests early on because they were cluttering up the thread, and trolling of course.

Did anyone else have ZERO results solo mining MMC? I tried for a few days with 3 CPU mining system and got ZERO results solo mining...

Blocks were worth $125 each so they were difficult to get.

How come this coin was originally marketed as a CPU coin, yet now advertises it has a GPU mining pool?

That's a good question, and I'm going to to need a blog post to explain it fully. Short answer - it's the most GPU resistant coin so far, but GPUs still have an advantage. Our aim is to keep CPUs in the game long term and we think we're succeeding in this.

How come the source code was released AFTER the pre-compiled windows version?
I think that was for a matter of minutes - it was to prevent people jumping the gun on mining before the release time as happened with ProtoShares.

Does this coin need a Cloud Mining system to be viable now?

No, pool mining with equipment you already own is the most cost effective way to mine this coin.

Also - what exactly is the pre-mined coins going to - holders of other coins and the original MemoryCoin Beta? How does this work...

Owners of the original MemoryCoin to reward their participation - it wouldn't have been fair to wipe them out. 1% to Protoshares holders to help distribution and marketing. Difficult to say what percentage of these coins will be redeemed - I'd guess a fair percentage of them will simply be lost.
 
newbie
Activity: 23
Merit: 0
just run your cpu, gpu and cloud.  only a few minutes to see what you get then run it through the calculator.
newbie
Activity: 42
Merit: 0
which gpus work with mmc.1gh's miner?
does anyone know about a 32bit version?
newbie
Activity: 22
Merit: 0
Did anyone else have ZERO results solo mining MMC? I tried for a few days with 3 CPU mining system and got ZERO results solo mining...

I mined a few. Stopped when pools were introduced and the difficulty went past 1000.

How come this coin was originally marketed as a CPU coin, yet now advertises it has a GPU mining pool?

Looked like the GPU miner was unexpected. They probably decided to go with the flow and change how it was advertised.

Does this coin need a Cloud Mining system to be viable now?

Due to the AES requirement, using pre-2010 CPUs might be a losing battle.

Using http://agran.net/memorycoin2_calc.html at the current difficulty and price, expect 1 hash/min = $1/day. You'll have to do your profitability calculations yourself.
member
Activity: 71
Merit: 10
I've been following this coin from it's original announcement and thing's are starting to look a bit strange /confusing - so I'm hoping someone (maybe even the Dev) can answer questions. The posts I have made in the Announcement thread keep being deleted


Did anyone else have ZERO results solo mining MMC? I tried for a few days with 3 CPU mining system and got ZERO results solo mining...


How come this coin was originally marketed as a CPU coin, yet now advertises it has a GPU mining pool?


How come the source code was released AFTER the pre-compiled windows version?


Does this coin need a Cloud Mining system to be viable now?


Also - what exactly is the pre-mined coins going to - holders of other coins and the original MemoryCoin Beta? How does this work...




Thanks for your replies (if I get any)
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