Topic: VirtualMiner 2.0 - Discussion (Closed) - page 7. (Read 15348 times)

Is the ability to spend coins for something coming? Currently there is no liquidity, I know, but you could always use the minimum marker price or the last month average if sufficient proportion of users were active on exchange..

I think it would improve the liquidity a lot and even if someone would choose to cheat, he'd be paying the fee. You could always put top exchange for cases when the price will go higher, you'll use the limit. Example: you could say that one EAR is not worth to your mining company for more than .01 BTC and let users shop for this price at most (so if I'll cheat and drive the price to 10 BTC, my rig upgrade would still cost as it would at .01 BTC, but when the price falls down to .001 BTC, I'll pay ten times more EAR.

You'd be required to watch markets and make some tuning, but it's worth the time!

This is a changelog for the upcoming Virtualminer update. Besides countless minor bugs and fixes i have also included some major changes that will fluently blend into the game. But since some of the changes (Pooling e.g.) will interrupt the current gameplay a bit, i will give people a chance to adapt to these changes. Therefore i will upload the update by Wednsday evening 8PM (CET) - so in roughly 50 hours.

- Exchange
Since there are a lot of smallish trades that are even worth less than a satoshi i decided to enforce a minimum trade volume of 0.0001 BTC per bid/ask.

- Chains
Every chain now has a upper limit for block generation. I have just given the existing chains a upper limit that is roughly 3x higher than the current block count. If you started one of the chains and want to have a different upper limite dont hesistate to contact me. I will change this of course.

- Coin generation
In combination with the block generation limit i introduce now subsiedy cuts.. currently those are hardcoded.
Under 50% of all created blocks the payout is 100%
Between 50% and 75% payout per block is 50%
Between 75% and 87.5% it is 25%
After that: 12.5%
If a chain reaches the limit of the block amount no more coins get generated.

This change was to come for a long while already. First of all it removes the absurd condition of having unlimited supply of coins and secondly it feels more realistic.
Furthermore it allows users to have a early adopter Bonus without using pre-mines.

- Pooling VS Solo mining
One major step forwards, or rather towards a more realistic Cryptocoin experience is a new feature i will introduce soon. Pooling and Solo Mining.
When this update pack is installed all miners will run solo. Every block you find will be given just to you. Currently every chain runs one big pool that proportionally pays the coins to all users mining it.. now with soloing and pooling you can decide which way you will go.
Every user can create a pool and set the fee the way he wants and change the chain the pool is mining. Normal users can join and leave a pool anytime they want by selecting a pool instead of a chain in his rig managment window.

- Rigs
I have increased the maximum number of rigs to 35.

- The next generation
We have heard a lot about ASIC and FPGA Mining, about the death of bitcoin and microcash being the next big step in the world of crypto currencies.. that all is just rubbish! Here at Virtualminer we have a big announcement:

This is basically a stock market....

It would be funny if someone bought a bfl single irl and dedicated the coins mined to supporting their "stock price" ie: their virtual currency....

Ok, finally i am back from holidays and that pile of work that was on my desk...

Sooo... there have been multiple requests.. let me try to answer to all of them:

- Mobile friendly Desktop mode
Very hard to do as i havent yet seen the same website on two mobiles look the same.. and this is especially happening for pages with a lot of javascript.. which would include virtualminer.. so i will try whatever possible.. but dont expect it to happen soon.

- "Implement a chain deflation feature; i.e. allow a chain to eventually reach a cap of coins (like bitcoin). This could be an optional checkbox and a setting "Block reward multiplied by [0.xx] every [xxxx] blocks". Said feature will also allow rampant-inflation coins as well, a double plus."
Its been in planning since the very first version.. and its high on my schedule.


- "Allow anyone (not just the chain owner) to "upgrade" a chain's infrastructure. There are many examples:
Open a new exchange market xxx->xxx for a fee
Allow usage of the coin to buy coupons, if volume is high enough (by default, make coins unsuitable for this)
Lower the exchange fee for an exchange market for a fee
Allow access to that coin's richlist (people who have the highest stake)
Advertise the chain on the frontpage in an auction-like process
Allow chain creators to set initial block payments to a list of people, acting as a "pre-mine"."

i like some of the ideas.. some.. well.. i think that introducing new chains to the frontpage would be interestering.. but i wouldnt like to have richlists. Same is with a premine.. for the sake of "realism" i could add it..

- "Decimal shift. Allow one virtual-coin to be priced at less than a satoshi (look at the prices now!)"
We will see about that.. maybe

"Chain support! Some revenue of the website is used to support the exchange price of random chains that have some volume and are reasonably distributed."
Been thinking about that for a while.. and since i cant seem to finish the faucet in any reasonable time anyway i might just do that with the money in the faucet account.. that might even be a very good idea.. got to find out a certain balance though..

If I could make a humble suggestion, maybe a coin balance on the desktop? Having to exit out and go to the exchange every time I want to check my balance (which updates slowly it seems), or am I just missing something? (Also a help section would be lovely)

Oh, and is there anything that tells you say, shares submitted?

SaltySpitoon: got 1 7100 miner working at Earnies.
Also got 3 7100's workin for Virtual Bitcoins!

Is there a minimum deposit? And I just deposited, when will it show up?

Nachtwind, I have a few suggestions for when you are back:

• Implement a chain deflation feature; i.e. allow a chain to eventually reach a cap of coins (like bitcoin). This could be an optional checkbox and a setting "Block reward multiplied by [0.xx] every [xxxx] blocks". Said feature will also allow rampant-inflation coins as well, a double plus.
• Allow anyone (not just the chain owner) to "upgrade" a chain's infrastructure. There are many examples:
  • Open a new exchange market xxx->xxx for a fee
  • Allow usage of the coin to buy coupons, if volume is high enough (by default, make coins unsuitable for this)
  • Lower the exchange fee for an exchange market for a fee
  • Allow access to that coin's richlist (people who have the highest stake)
  • Advertise the chain on the frontpage in an auction-like process
• Allow chain creators to set initial block payments to a list of people, acting as a "pre-mine".
• Decimal shift. Allow one virtual-coin to be priced at less than a satoshi (look at the prices now!)
• Chain support! Some revenue of the website is used to support the exchange price of random chains that have some volume and are reasonably distributed.

I can't seem to add a withdraw address in the iOS site - and please make a mobile-friendly 'Desktop' page!

Edit: Check out VirtualBitcoins - the newest chain on the block.

Well, it depends on where we are getting our sample from. If I asked if the Majority of the people in the world used BTC, the answer would be no. If I asked if the Majority of the people on this forum use BTC, I would say yes.

And then there are those very odd exceptions like if I asked does the Majority of Africa use any kind of money at all? And the answer would be no.


Oh and again, Earnies are still dominating all of the other coins! If you would all just give up your other coins, and trade in for earnies, then we could establish the official Virtual Virtual Currency.

Going on a vacation next week.. so there wont be much of a development then

Uhh, then why doesn't the majority use bitcoin? Just saying...

Oh, what is this? Earnies are still doing the best, and now control 64.4% of the total hashing power in the game. Could the 64.4% be wrong? Not likely, if theres anything we have learned from history, its that the majority is always right.

Ha! I was correct, Earnies are doing the best! Their high difficulty has made it so the number mined is trickling up, instead of thousands being dumped every hour. They have the highest/best value of any coin, and control 63% of the total mining power! If you aren't mining earnies, the question is, why not?

My favorite part is the low power cost. All of my rigs together only use like 8 VKW/H. 

Gonna try it, just deposit 1 BTC.
Lets mine virtual 

I like this idea, or just have a sort of weekly trend + curve protection, so if Earnies have been selling for 1 BTC (But I think they are worth more than 1 BTC) and then suddenly one is bought for 10 BTC (More like it) that data would be thrown out by the weekly curve. But having another game currency would be nice. But when you trade the Virtual Coins for the Virtual Currency, would the coins be removed from the game? Or would they just be put up for sale where other people could buy them for a Virtual Currency?

perhaps make an in game "fiat" currency that the ingame chains can be traded for, the 'fiat' could then be used to buy rigs and upgrades, and i think you should buy it back at slightly less than its worth to you

this will push the exchange rate up of all coins to match how hard they are to mine to how much they could get paid for the fiat

this will increase the reward for spending btc in game, as well as create some circulation of all coins

you can control the btc -> fiat exchange rate to keep the bank healthy

you could add electricity costs for rigs/upgrades passed the free one, in 'fiat' so people will need it as soon as they spend it, this will minimise stagnant coins in dead accounts since once they are out of fiat only the free rig will be running un-upgraded

i would propose when someone pays to start a new chain, that money is used to create 'fiat' and a buy price is decided that is a little higher than its electricity cost - once that fund is out the coins survival depends on the players

in the end the sites bank is left in front, the btc paid to make the fiat is more than the btc used to buy the same amount of fiat back (of course, players would be free to pay more than you, increasing the circulation further)



---



edit : i would also like "rich lists" for all the coins

Thats the reason why it is not yet implemented.. but will someday once i finish that exploitability.
First of all i must make sure that the exchange cannot be exploited - then i can build a shop. Sorry

Yeah, I've been asking the same thing and the answer is somewhere above. Short version: it could be easily exploited. Currently I might offer to sell 1EAR for 1BTC, buy it myself (yeah, you can do that) and now I have 40 000 EAR = 40 000 BTC -> almost unlimited upgrades :-)