Topic: *update client [ANN] BitBar New POW-POS scrypt CryptoCoin - page 24. (Read 60298 times)
Early miners? It was released less than 3 hours ago.lol
Actually this project looks very interesting. I put my cannons on it.
2 hrs solo mining and all I have is 5 BTB.
1 mh/s.
1 mh/s.
The reward per block seems to be dropping really fast, so difficulty is really irrelevant on this coin it seems. The reward is now less than half of what it was 2 hour ago.
yup it destroys its own market. since the reward drops so fast its not worth the mining effort. As a result you are left with a small pool of miners from the start. Even if you have a few miners that have bitbars and are willing to trade them who would want them.
I think the intent of the currency was to try to make them very rare. Bit-bar like a bar of gold or bar of bitcoins. The hope was that the price would rocket up beyond a bitcoin and the early miners could sell at very high prices.
But since it has a high entry cost to mine and very low value to start it is costly to mine, little to no profit it in. Especial when you know that there are a large number of early miners holding a lion's share.
Now if it was very difficult to mine from the start for everyone equally then it would have much more value.
Oh well. live and learn.
I agree, to make a coin truly rare, it needs to avoid the 1 second per block scenario at all cost.
Please do drop your miners so I can get more... would appreciate this.
The reward per block seems to be dropping really fast, so difficulty is really irrelevant on this coin it seems. The reward is now less than half of what it was 2 hour ago.
yup it destroys its own market. since the reward drops so fast its not worth the mining effort. As a result you are left with a small pool of miners from the start. Even if you have a few miners that have bitbars and are willing to trade them who would want them.
I think the intent of the currency was to try to make them very rare. Bit-bar like a bar of gold or bar of bitcoins. The hope was that the price would rocket up beyond a bitcoin and the early miners could sell at very high prices.
But since it has a high entry cost to mine and very low value to start it is costly to mine, little to no profit it in. Especial when you know that there are a large number of early miners holding a lion's share.
Now if it was very difficult to mine from the start for everyone equally then it would have much more value.
Oh well. live and learn.
Damn how could i miss this?
I wanted to early mine the shit out of the new coins this week. hope it isn't too late for this one
I wanted to early mine the shit out of the new coins this week. hope it isn't too late for this one
What I find fishy is that in the OP, the message to announce was just PM'd to the OP guy here, who I guess has "nothing to do with it" and they mention that creating a new forum account to launch the altcoin sounds "fishy"...
welll..
why create a new account? why not just, say, announce it with an existing account? why do altcoins need to be posted with fresh accounts?
welll..
why create a new account? why not just, say, announce it with an existing account? why do altcoins need to be posted with fresh accounts?
Wow, two consecutive blocks at only 400kh/s. Probability is weird. Still too many stales.
BMgKLiqg1LhXQYuHUSKfhzycmWvki9JHP7
I actually really like the idea of this coin and am curious to see where it goes that being said I wish I got in at the beginning as im having no luck here.
In at the beginning? OP was like 2 hours ago lol, it's pretty close to the beginning and already whored out
Well, I was able to find a block with my amazing hashing power of 60Kh/s. This was done in 1h and the reward was 0.358046. This is my first successful solo mining, so now i now how to solo mine.
And in my opinion is better to have a coin with a low value per block, and faster blocks, than is with the other coins where you have 50 coins and 10 minutes blocks.
And in my opinion is better to have a coin with a low value per block, and faster blocks, than is with the other coins where you have 50 coins and 10 minutes blocks.
I actually really like the idea of this coin and am curious to see where it goes that being said I wish I got in at the beginning as im having no luck here.
The reward per block seems to be dropping really fast, so difficulty is really irrelevant on this coin it seems. The reward is now less than half of what it was 2 hour ago.
I don't think people understand the coin yet, also the block amount is < 1.0 and decreasing with time. So if anybody is looking to buy them, you are not going to be buying in amounts of 1000 like FTC and CHN, but rather amounts of 1.0 or probably less. Also I started up the miner about 15 minutes after the thread was posted and blocks were at 0.8, so I doubt there was a premine.
Yeah, bad design choice to make the reward so small. Sucks to work with these small numbers. Oh well, just mining for fun now. Let's see how this is going to turn out.
1.001^2048 > 4
It seems to make sense.
It seems to make sense.
Well then, who will be the first to make a pool for it? Or do we declare this DOA?
Hi,
do you help my how to mine this bar with my 5970 card?
The difficulty adjustment is really well done as far as I can see.
New blocks are coming every few seconds for almost 1 hour now, and you speak of really well done retargeting. Retarded?
Another fail launch.
CHNcoin's algorithm did much worse. The retargeting is one of the best AFAIK. It's just that they fucked up by choosing an initial difficulty value that is way too low.
No, they fucked up by setting maximum difficulty multiplier to something like 1.001 instead of 4 as with Bitcoin. Actualy, it is intentional - any decent coder would not simply
forget to adjust starting difficulty properly.
True, could be intentional. But you can't compare the difficulty multiplier to the one used with Bitcoin. This one retargets every block, rather every so many blocks like in bitcoin. Setting up the multiplier too high will cause it to spike really high, with the miners leaving and causing the confirms to be really slow, which will delay the retarget as well. Would make it go through the same problems as Terracoin did.
I do agree with you on the initial difficulty. Should have been way higher, and then the multiplier would be adequate as well.
I don't think people understand the coin yet, also the block amount is < 1.0 and decreasing with time. So if anybody is looking to buy them, you are not going to be buying in amounts of 1000 like FTC and CHN, but rather amounts of 1.0 or probably less. Also I started up the miner about 15 minutes after the thread was posted and blocks were at 0.8, so I doubt there was a premine.
Jump to: