Topic: New gold-backed cryptocurrency INNcoin allows you to mine gold for free - page 9. (Read 21039 times)

Any Idea what software I can use to mine this with hd 7970 or hd 7850?

Agreed.   I have gold and silver in their vault and wish them the best.  I think they are starting it out right.   I also think the number was initially low to make sure they have their ducks in a row and that they do it the right way and not get ripped off.  I think the only part that will backfire for marketing is they are still sending out advertisements for people to use the CPU mining built into the wallet.   That is a complete waste of time now that GPU mining has taken off.   Wish I would have started it sooner with GPU. 

I am also mining from day 1 ......This is not some 12 year old kid making some scam coin you know.......This is real gold trader, with good reputation ! There is no IPO ICO premine etc usual scams , or some web site build 2 day ago with a nice flash on it ........ I think when something as real and visible to all of the ppl is working perfect , it needs just little announcement , which i think we will see soon enough .

~12,000 blocks have been generated (11,933 as the sending of this reply) out of 200,000 total blocks on the proposed chain.   They could possibly double or quadruple the value easily as the current 100g backing is a very low amount of gold to start with and easily within a marketing budget to still increase.    Also it would be a bonus to those early on as part of helping kick off the generation of the blocks that they can then resell for gold and use as part of the overall portfolio.   I am hoping for such as well as an increase in the value of gold as the dollar continues to fail.   But at the current time, I still don't see it being worth what it costs to generate.  Again that is part of the gamble of any coin. 

I didn't say I was going to stop mining just yet though.   But a few blocks per day just doesn't pay for the cost of energy used and will hopefully deter others from mining my blocks.   

And what if  AnthemVault decides to increase the  value of the coin ?  It is not a big deal for them , as an proved gold trader ....

I am guessing that the generate coins doesn't need to be set.  I have mined 850 coins so far (most of them using the CPU mining on the 17th-18th) and converted over to GPU mining on the 19th.   I was getting 95k hash with CPU (i5 Sandy Bridge) and now I'm at 1880k with GPU (Nvidia GTX660).   The 50 coin block appears in my transaction log as soon as one is found with ccminer.  It takes over 100 additional blocks to be found on the blockchain before it matures and is added to the balance.

I only modified the .conf file as follows:

server=1
rpcuser=inncoin (this could probably be changed, I left it default)
rpcpassword=xxxxx (use your password, I'm guessing the default one was autogenerated)
rpcport=9332
rpcconnect=127.0.0.1

I changed server from 0 to 1 to allow RPC login.  added a port and local address.

I utilize ccminer v1.2 with the following batch file
ccminer.exe --algo=x11 -o http://127.0.0.1:9332 -u inncoin -p (your rpc password)

"[2014-07-22 14:53:01] GPU #0: GeForce GTX 660, 1883 khash/s"

Either way, it takes about $0.24 in energy (plus your GPU is out of commision during mining) to earn around $0.05 in inncoin (on today's gold price) per day.  This will keep going up if more people jump on the GPU mining bandwagon.   Only good for those who want to lose money, which I'm doing at the moment for fun. 

My energy calcs is based on 100watts of energy used at $0.10/KWH or roughly $0.24 per day.  Based on a set value of 100 grams of gold (~$4100) for 10 million coins, a block of 50 coins is valued around $0.02.   That means I have paid ~$0.75 in the last 3 days to mine $0.12 worth of inncoin/gold.   

Thanks for the info 

Tried to use the sgminer wih many different setup thru a MINING.BAT file, but it doesn't seem to come around.. Keeps hanging and waiting for work and after a while I get further errors, such as "Pool 0 down or..."
So now I'll try SGminers own conf-file, can anyone pinpoint what my error is in the following SGMINER.CONF setup (Windows 7, ASUS R280x 3gb and SGminer (Newest version)) since I get the same freaking errors... grrr.... 

{
"pools" : [
   {
      "url" : "tcp://95.85.14.180",
      "user" : "inncoin",
      "pass" : "MyPassword"
   }
]
,
"intensity" : "18",
"worksize" : "256",
"kernel" : "x11mod",
"lookup-gap" : "2",
"thread-concurrency" : "8192",
"shaders" : "0",
"gpu-threads" : "2",
"gpu-engine" : "0-0",
"gpu-fan" : "0-0",
"gpu-memclock" : "0",
"gpu-memdiff" : "0",
"gpu-powertune" : "-20",
"gpu-vddc" : "0.000",
"temp-cutoff" : "95",
"temp-overheat" : "85",
"temp-target" : "75",
"api-mcast-port" : "4028",
"api-port" : "4028",
"expiry" : "28",
"failover-switch-delay" : "60",
"gpu-dyninterval" : "7",
"gpu-platform" : "0",
"log" : "5",
"no-pool-disable" : true,
"queue" : "1",
"scan-time" : "7",
"tcp-keepalive" : "30",
"temp-hysteresis" : "3",
"shares" : "0",
"kernel-path" : "/usr/local/bin"
}

-And again, Thanks in advance for any help you or anyone can provide 

i take it i won't get any of the coins i potentials earned previously??

You can also start mining from within the console by typing the following:

setgenerate true

I figured that out

check getmininginfo in console and you will see that generate is set to FALSE

just close the wallet and add -gen after the target
i.e.
"D:\Program Files (x86)\Anthem Vault\INNcoin\inncoin-qt.exe" -gen


If anyone hasn't done this you won't generate coins

check getmininginfo in console and you will see that generate is set to true

Can you give me a better instruction of how to do this as I checked and it is set to false

these scheming b'stards have left it that way. No wonder I have no coins, been doing this since friday LOL

Hi.  I used the Username/Password that are in the extisting CONF file and it worked.  :-)

addnode=95.85.14.180
addnode=107.170.16.129
addnode=204.151.9.26
addnode=98.196.165.22
addnode=74.143.145.109

Thought Id shoot ya a few more I got from checking my wallet I seem to have 15 connections now if you need more nodes let me know

73's
d57heinz
Doug

Anybody else getting accepted shares and not getting eh rewards I have 179 accepted on hd 7970 but only 3000coins to show for it Somebody having good day on me:(   so 1 where is my rewards going??.. and 2  why did they come to the wallet at first and not now??.  I have two hd7970 going on separate machines and both are doing the same thing no NO rewards..  not sure what is wrong here.. any help be much appreciated..

73's
d57heinz
Doug

-Forgot to mention something about the wallet-mining feature: Check the wallet console with the command: GetMiningInfo and you should see some info about your mining.  IF the line "Generate" states "False", then (as far as i can figure out) you are NOT generating any coins ie. you dont get paid for your work.. This can be corrected thru a batchfile for loading your wallet. It should only contain one line (InnCoin-qt.exe -gen) and this will correct the issue regarding turning "Generate" from "False" to "True".

But MUST say, I have NOT done any testing yet! 

-AND PLEASE DO CORRECT ME IF I'M WRONG IN  ANY OF THIS 

Have a AWESOME day 

Hey..

How did u setup the GPU mining software, thinking in terms of (ip connection address) / username / password..   
(know it's X11 and have the SGminer for that, but doesn't seem to be correctly set up from my part  )..

Thanks in advance

For the most part, it simply appears to be a promotional effort by the gold dealer. You earn a little bit of free gold that hopefully you come to them to exchange for USD, and even more hopefully leave the gold on deposit with them, and even more hopefully buy more gold from them.

100 grams = ~$4,200

For an entire currency.  With mining spread out over 12 months.  I'm not going to do the calculations but the cost of electricity probably exceeds the worth of the coins, or at least makes them barely profitable.

Anyone that started mining this just because it mentions gold needs to rethink their evaluation process.  Or you know, actually start having an evaluation process.

InnCoin is backed by a known gold dealer that has had a reputable name in the gold exchange industry for years. It is less sketchy that many other crypto currencies out there.

Also, I was not required to provide any social security number or other such information to get the wallet and initiate mining.

Best guestimate = a few days to catch a block?