tl;dr pretty much everyone running the Windows binaries from the onset was screwed.
The same was with Litecoin. Almost everyone was mining on unoptimized miner until pooler published his optimized version. Scams everywhere.
Topic: The YACoin Superfun Premine Thread - page 5. (Read 8971 times)
The same was with Litecoin. Almost everyone was mining on unoptimized miner until pooler published his optimized version. Scams everywhere.
In my opinion it is not the premine itself that is 'scammy'. It is many factors that weight in. But if a coin is premined, has rigged block reward and makes it to a marketplace in 48 hours... well. It it walks like a duck...
And here is some required reading
As soon as next retarget CNC will surpass feathercoin in value like a rocket.
Just BUY all the CNC you can get your hands on and you have a few 100% easy in a matter of hours or days.
I'm still bullish. Sold off enough to 'break even' at around 0.0035 and still sitting on 30k+ for the long haul. Either it will stagnate around 0.20-0.30 in a day or so, or it will take off. I don't see it going 'away' anytime soon with China just now becoming seriously interested in crypto currency. I can see if becoming the 'LTC of the far east' and if so, having a position is always nice if you are willing to take some risk.
I think you are setting your hopes too high for this one. The author went off the grid (hasn't posted in 3 days) and interest is waning. I find it hard to support when the author hasn't taken any initiative to promote services or participate in the community. It may well be a scamcoin.
I think the 'disappearance' could very well be a PR stunt though. Satoshi anyone?
Windows 7 64-bit from 1 hour after launch until 8 hours ago. 62 blocks - 59 of them where orphaned.
Linux Ubuntu 64-bit from 1 hour after launch . 270 blocks - 31 of them where orphaned.
Linux Ubuntu 64-bit from 1 hour after launch . 270 blocks - 31 of them where orphaned.
How to spot a SCAM COIN:
Launched at non-peak forum hours with no, little or faulty launch time.
Convoluted design for the purpose of discouraging public mining in early blocks.
Quickly dropping block reward to reward 'prepared' miners (aka. inner circle)
Very low starting difficulty that quickly increase (also to reward inner circle and pre/instaminers)
Ultra fast time to market. aka. Appears on trading solutions within a few days. To enable early miners fast and profitable exit.
LOTS of forum PR (spamming altcoin forums)
Feel free to add to this, comment, criticize etc. I would love to build a common definition that people can learn from.
Launched at non-peak forum hours with no, little or faulty launch time.
Convoluted design for the purpose of discouraging public mining in early blocks.
Quickly dropping block reward to reward 'prepared' miners (aka. inner circle)
Very low starting difficulty that quickly increase (also to reward inner circle and pre/instaminers)
Ultra fast time to market. aka. Appears on trading solutions within a few days. To enable early miners fast and profitable exit.
LOTS of forum PR (spamming altcoin forums)
Feel free to add to this, comment, criticize etc. I would love to build a common definition that people can learn from.
By these definitions, bitcoin and especially litecoin are also scams (except for probably #1, which really depends what timezone you live in).
In time, the market will decide what is, or is not, a scam.
Maybe window was rigged.. I was getting alot of orphans too out of like 60-70 blocks 11 were accepted, rest were orphans
I'm just wondering, which coin wasn't premined?
In my opinion it is not the premine itself that is 'scammy'. It is many factors that weight in. But if a coin is premined, has rigged block reward and makes it to a marketplace in 48 hours... well. It it walks like a duck...
100% that the developers and their 'friends' were ready with a few amazon instances.
And somehow they failed to mine more than 40 blocks before several forum members joined the network.
So, your theory is that it is super hard to organize a few JR members to also prep and share the profits with them? I am amazed more people don't get how the new altcoin scam works. The entire approach requires you to have a group of forum members to 'validate' your coin anyway (and spam sale/buy ads 20 min after mining starts. Email spam bter.com etc) and why be super greedy when you can make a few 100 BTC and have a group of 'forum friends' make another few 100 BTC.
I'm just wondering, which coin wasn't premined?
100% that the developers and their 'friends' were ready with a few amazon instances.
And somehow they failed to mine more than 40 blocks before several forum members joined the network.
Releasing clients for windows with no UPNP support is the new premine
They will always find a way to have an advantage at release.
That's why they do not publish binaries until the actual release without notice. Anyway I predict that this thread will change nothing and this pre-mine scam will be forgotten in 10 seconds.
It will not be forgotten, but of course it will be ignored by LOTS of people that are waiting just waiting to launch the next 'Big Thing'. I project 4 new altcoins over the weekend. Guessing at least one 'ultra rare' (BTB was a super successful scam) and 2-3 new SHA256 coins, probably with fucked up block reward system.
Possible alternative, everyone that didn't immediately start figuring out how to port the scrypt chacha code and (relatively slowly changing) variable N to the cgminer GPU kernel were actually screwed from the onset regardless whether they were running Windows or Linux?
I joined at 9 minutes with 40 blocks mined, and my cheap single i5 2500k Linux rig held for quite a while with ~10% of all coins (I kept checking it, cos it was the first coin I joined since the start and wanted to see how the minting rate was). It ended making 20k YACs throughout the day. So basically anyone who pointed a common Linux desktop to the network would have got a substantial share of the early coins.
Definitely there weren't big guys around with huge rigs from the start, maybe because nobody was expecting a CPU coin. It took a little while for people to react and set up their farms.
Wrong. The coin was pre-annouced. It was only the launch time that was instant. 100% that the developers and their 'friends' were ready with a few amazon instances.
How to spot a SCAM COIN:
Launched at non-peak forum hours with no, little or faulty launch time.
Convoluted design for the purpose of discouraging public mining in early blocks.
Quickly dropping block reward to reward 'prepared' miners (aka. inner circle)
Very low starting difficulty that quickly increase (also to reward inner circle and pre/instaminers)
Ultra fast time to market. aka. Appears on trading solutions within a few days. To enable early miners fast and profitable exit.
LOTS of forum PR (spamming altcoin forums)
Feel free to add to this, comment, criticize etc. I would love to build a common definition that people can learn from.
Launched at non-peak forum hours with no, little or faulty launch time.
Convoluted design for the purpose of discouraging public mining in early blocks.
Quickly dropping block reward to reward 'prepared' miners (aka. inner circle)
Very low starting difficulty that quickly increase (also to reward inner circle and pre/instaminers)
Ultra fast time to market. aka. Appears on trading solutions within a few days. To enable early miners fast and profitable exit.
LOTS of forum PR (spamming altcoin forums)
Feel free to add to this, comment, criticize etc. I would love to build a common definition that people can learn from.
Possible alternative, everyone that didn't immediately start figuring out how to port the scrypt chacha code and (relatively slowly changing) variable N to the cgminer GPU kernel were actually screwed from the onset regardless whether they were running Windows or Linux?
I joined at 9 minutes with 40 blocks mined, and my cheap single i5 2500k Linux rig held for quite a while with ~10% of all coins (I kept checking it, cos it was the first coin I joined since the start and wanted to see how the minting rate was). It ended making 20k YACs throughout the day. So basically anyone who pointed a common Linux desktop to the network would have got a substantial share of the early coins.
Definitely there weren't big guys around with huge rigs from the start, maybe because nobody was expecting a CPU coin. It took a little while for people to react and set up their farms.
YAC's failure to launch at the announced launch time was a breach of trust. This business with the binaries makes matters worse.
At this point I'm comfortable lumping it in with all the other pre-mined coins.
At this point I'm comfortable lumping it in with all the other pre-mined coins.
if the init diff is high, then many small computing people won't be able to get anything. It will need the mining pools being set up at the beginning.
In any case, those with big rigs will always have big advantage, no matter what we do about it.
In any case, those with big rigs will always have big advantage, no matter what we do about it.
There does seem to be need for a good clear step by step manual walking coin developers through the changes that p2pool will need, so that as they decide each thing they are changing to make their coin they can make the corresponding change to a pull for p2pool.
So far no one seems to really know what some of the strange hashes or coded strings in p2pool are let alone how to generate them or where to obtain their values for your new coin.
But yeah it makes sense that if thousands of machines will be mining, the chance of any individual one of them solving a block in the target time has to be one in the number of machines, thus that if several thousand cores will be mining it should take any individual core thousands of times the target time, on average, to find a block.
-MarkM-
Ahh, It's always the same.... A small bunch calling premine and crying about being late.
In 2 hours time there will be 10 new altcoins launched and new folks to whinge about those.
So. Fair play, but this ain't going to spoil YacCoin.
In 2 hours time there will be 10 new altcoins launched and new folks to whinge about those.
So. Fair play, but this ain't going to spoil YacCoin.
I'm not complaining, I have lots of them.
tl;dr pretty much everyone running the Windows binaries from the onset was screwed.
Possible alternative, everyone that didn't immediately start figuring out how to port the scrypt chacha code and (relatively slowly changing) variable N to the cgminer GPU kernel were actually screwed from the onset regardless whether they were running Windows or Linux? From experience running a substantial server farm mining YAC yesterday, and looking at the difficulty and block solving rate today, I'm pretty skeptical that CPU mining accounts for most of the apparent hash rate.
This is pretty likely. If I can pull 400 kh/s on a 2700k, my guess is that a 7970 could pull several mh/s at the current difficulty/N.
if the init diff is high, then many small computing people won't be able to get anything. It will need the mining pools being set up at the beginning.
In any case, those with big rigs will always have big advantage, no matter what we do about it.
In any case, those with big rigs will always have big advantage, no matter what we do about it.
I mined around 400 on win 7 with i5 3570k oc'ed to 4.5Ghz
I was even late to party and running it in a sandbox for a few hours
So windows mining was differently possible
I think the biggest problem was/is network latency.
You can have a SUPER fast computer, but if your net is slow with high latency you will never get those solved blocks accepted since someone with better network latency already got their block accepted before you..
I was even late to party and running it in a sandbox for a few hours
So windows mining was differently possible
I think the biggest problem was/is network latency.
You can have a SUPER fast computer, but if your net is slow with high latency you will never get those solved blocks accepted since someone with better network latency already got their block accepted before you..
No, the big problem is insanely low initial difficulty.
The latency "problem" is only even noticeable because the blocks are too insanely easy to solve.
If the number of miners who were able to get up and running within the first few pages of the thread had been too few to even have solved the first block in that tiny amount of time, then by the time there were enough miners aboard to have a decent chance of getting the first block solved the blocks would have come faster and faster and faster until within just an hour or two after launch there would have been enough miners to have blocks being solved at about the target speed and even then chances are high that within another few pages they would have been solved faster than the target speed, but hopefully by then a retarget would be coming soon enough to keep adjusting back to the target speed fast enough to keep latency from ever being a noticeable problem.
-MarkM-
Didn't do too badly on the launch 2 days ago with just a few systems, even just Windows (I don't have the fancy Xeon servers or EC2 instances or whatever that you people have). Then again, I only found about the thread and got in at block #200 (difficulty 0.0002) just because I was doing work way past my bedtime and happened to see the thread.
Jump to: