Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 259. (Read 920135 times)

Is it possible to change Potcoin to Scrypt-N?
If yes, that would be my suggestion for a re-design.
I think what happened to Bitcoin in regard to ASICs won't happen to Scrypt coins that way.
I think Scrypt will be abandoned for PoW, if only ASIC owners could mine them.
For most of the Scrypt coins there is no real market and the inflation will kill them.

I'm all for GPU mining.
Look whats happening to VTC.

I think it is most important to build a mostly independent transfer cycle.
Big growers, vendors, merchants could spin off their own mines and sell the coins to the folk thru outlets.
The more it decouples from Bitcoin, the better. Make it a currency on its own.

We've setup 15 x 0% Fee promo-codes for use on our POT Pool over at https://www.minep.it/pools/22/ as we try to increase awareness.

Simply Register, subscribe to the pool and enter a promo-code into your profile page.

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0C9E3D21-B5DC-4F08-826F-EC858EE977B6
490D620D-A2F6-4045-A396-F99C8A08109F
507A6D98-0998-4D01-B0AB-D8CD57BCBA12
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59C447CE-B22A-4EA6-BEE9-3EBE255BD6C2
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E5ACC197-7F8A-467E-90D2-BE609841D650
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002C1DCE-DADA-48B4-B771-6B9416D6BE9C
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Enjoy.

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DEV - Could you please add our pool into the OP list? Thanks.

Please don't halve the coin. Keep it this way. We should be focused on creating more service for the coin instead of artificial market price.

aceoyame
Well we have a pretty good idea already courtesy of the gridseed chips and the new ones that are being "tested" on wafflepool. Difficulty is increasing and price is dropping. Anyone who says "ASIC's increase the price!" is a fucking idiot in my book.
Just because the price went up when ASIC's came out doesn't mean the ASIC's are what did so. If that were true we'd still be over 1000 USD/BTC and climbing. It was just coincidence.
All ASIC's do is take mining away from the average guy and put it in the hands of a few parties. As well as making money hand over fist for the ASIC suppliers from "testing" and then delaying your expensive product.
For proof of how much ASIC's de-centeralize mining..... CEX.io anyone
http://en-us.reddit.com/r/dogecoin/comments/2152du/asicsclearing_the_misconceptions/

What you are proposing will just shift the costs. People will spend money on cpu's and memory instead of gpus and asics. It does not fix anything. We should be trying to find the best, most efficient form of hardware to support our network. 7 GB of memory for ONE instance of this Cuckoo Cycle to run? That is such a waste.

which is why Cuckoo Cycle would be good for pot, it would stop gpu farms and asics

We should not be trying to stop asics...Network hash power is what secures our network and what guarantees profits for the miners. We can't have massive GPU farms everywhere sucking down millions of watts of energy. That's not a stable network, its an inefficient and obsolete network.

The harder you work to stop asics the harder others will work to make them hash your coin. Just let it happen like Bitcoin has done. We will be better for it.

Scrypt was the choice because it was ASIC free. Minor changes can keep it that way.
could maybe change the N value as it is hardcoded in most scrypt asics

asics:
Ok give me your 3000. It'll be a preorder, I'll deliver in April. Oh wait, delays. May. Oh wait, more delays. June now. Ok last delay, here you go, your brand new ASIC in July! Btw we were doing extensive "testing" on these ASICs for the past few months, aka mining for ourselves with them until they were no longer profitable due to other ASICs spiking the difficulty.
Enjoy your brand "new", now unprofitable ASIC!
Long story short: ASIC companies are nothing like legitamite GPU companies. They've done things like this in the past, they'll do it again. They are literally probably doing it right now with the 23 GH/s whale on wafflepool.

ELI5: Cuckoo Cycle makes mining easier for a regular user, and levels the playing field against GPU farms. The way it does it is by making the miner access many times to memory, instead of doing many calculations with the memory. GPUs and ASICs don't have much advantage against a regular CPU on this because RAM speed is the same for everyone.


ELI5 cuckoo cycle POW

There has never been a coin with a memory-hard POW like Cuckoo Cycle. Malware that collapses the RAM usage of the host would be very noticeable: 1 GB - 2 GB of RAM plus very high mem IO activity. The host computer would be mostly unusable, and it would leave an easily identifiable footprint for antivirus software. In addition, something to consider: if it were really that easy to get millions of computers in a botnet, how do cryptocurrencies survive? If you had almost infinite free cycles you could perform a 51% attack in any coin.

tromp
Hi. I'm the author of Cuckoo Cycle. Here's some of my thoughts on how it relates to ASICs and GPUs, and some thoughts on how to introduce this.
An ASIC for something like cuckoo728 (graph size 7x2{28} ), which requires 7GB for a single instance, could not be self contained. It would be like a vastly simplified CPU with perhaps 1024 cores, that runs 32 instances of cuckoo728 at once, each one running with 32 threads. It would have to be connected to 32x7GB, or nearly 256GB of memory, which would totally dominate the price. Intel is already planning to introduce cpus with hundreds of cores, so such an ASIC would not offer enough performance advantage to justify its development cost. I think this is as ASIC proof as a PoW can get.
Similarly, no current GPU card has enough memory to run cuckoo728, and future ones with twice the memory of the current max (6GB) would only be able to run a single instance (the algorithm doesn't allow a time-memory trade-of). Even that may not be competitive with a CPU, which has much better memory latencies. The vastly superior memory bandwidth of a GPU is wasted on Cuckoo Cycle, which makes completely random accesses. Another problem with GPUs is that they cannot deal well with data dependent code flow, which features prominently in Cuckoo Cycle. I think this is about as GPU unfriendly as you can get.
The problem with introducing Cuckoo Cycle in an established coin like doge is that is would be quite disruptive. The block header would grow significantly, since a Cuckoo Cycle proof takes 4x42 = 168 bytes. You can bring that down to 4x20 = 80 bytes by choosing a smaller cycle length, but it gives up some algorithmic hardness.
Perhaps the best way to introduce this is Myriad-coin style. First you adopt the ability to accept different PoWs, each with their own difficulty target. Perhaps you initially allow only scrypt with N=2048 as an alternative PoW. Once you have that working smoothly, you could add Cuckoo Cycle as a third PoW into the mix. Eventually, you could phase out plain scrypt by artificially boosting its difficulty.
Even this approach should not be attempted without extensive testing on a testnet and a healthy dose of developer spare-time.
http://en-us.reddit.com/r/dogecoin/comments/210y4a/how_to_stop_asics_and_multipools_xpost_github/

We all knew asics were coming. Only fools thought scrypt was actually asic proof

NO

asics are here folks, here is what we are trying to solve really, this problem
http://wafflepool.com/miner/14t8yB3PDGfZT3VppxMY4J9xiBaXUcZvKp
user Hash Rate: 17.38 GH/s (15min approximated)

Found a faucet

http://fairpool.co.vu/PotCoinFaucet/index.php

i also vote no halving 

KDC was not on life support before the hard fork and reward reduction... price was low, but steady... network hashrate was around 400Mh/s... not great... but enough to stay reasonably secure. If at that point and the devs and community would have opened the store-front, organised the pre-paid VISA, and all the other things they doing now... the need for reward reduction would have not been needed... in fact the original roadmap called for a reward halving to happen about now anyway... but... well... go read the story...

POT is a very different coin from KDC... KDC is a general purpose coin... POT is a targeted coin... but the same rules will apply... and there is no sound reason for reward reduction except to manipulate price.

I agree but KDC has been on life support and continues to be on life support. They tried to inflate the price and get more people interested in the coin which didn't have too much has to begin with, change the mining schedule, then release the storefront instead of keeping the same schedule which made it better. They didn't have as many miners as we have nor a real product which we have unless you count their nice store they opened after rewards were halved. To compare pot although has some similarities, there is not much to compare.

u can dump all your coins then good luck getting them back later after rewards are 1/2

My vote is NO.

NO! = Vote

The only people on this thread promoting a block reward reduction are the same folks that drove the KDC reward reduction... which has been a complete disaster. The price has not come close to compensating for the reduction, and the network is now unsecured because of the low hash-rate. I am a long-term large stake-holder in KDC.

Funny thing is... now that KDC is on life-support the community are now doing all the things they should have done before the block reward reduction, if they had done those things there would have never been the need for a block reward reduction to manipulate price.

POT is a has been steadily climbing in price since its low because of the hard work and infrastructure being put in place by the dev team. If you want to make a 1000% profit on a coin go find some pump and dump coin.

The only people that want a reward reduction are the short-sighted and short-term profit-takers and is nothing more than a attempt a pure price manipulation.

Keep building the business and the value will follow.

IMHO halving is the same as a stock "rollback" typical of failed Vancouver penny mining stocks...

If it's not broken, don't fix it!