edit: if not when
Topic: [XPM] [ANN] Primecoin Release - First Scientific Computing Cryptocurrency - page 162. (Read 688812 times)
July 09, 2013, 07:43:33 AM
I thought difficulty will rise a lot when if GPU miners appear?
edit: if not when
edit: if not when
July 09, 2013, 07:36:16 AM
If the block generating rate keeps at roughly 1/min, in one year there will be 365*24*60=525600 blocks. At difficulty 7 the reward of one block is 999/(7*7)=20. At difficulty 10 the reward of one block will be 999/(10*10)=10. In one year the difficulty will most likely be less than 10. If we assume the average reward for one block is roughly 16, then the total money supply should be 8409600, about 8~9 million.
July 09, 2013, 07:30:52 AM
First mature Coin WoooHo!
July 09, 2013, 07:21:24 AM
How much XPM there will be existence, approximately? Or is it totally unknown?
bump
Its all in the paper, the cap is unlimited but as more people mine the coin generation decreases. The rate of mint is meant to be similar to gold mining. A small amount each year in the long run (inflation predicted at around 1% after several years)
Ok, thanks. Any estimate how much there will be coins mined 1 year from now?
Sorry I have no idea at all. I think you would have to take a guess at the eventual adoption rate in a year to correctly model the amount of coins that will be around by then, making a guess quite difficult.
EDIT: SunnyKing probably has a really good idea how many coins will be around in year, he/she has tested the hell out of this thing.
July 09, 2013, 07:17:57 AM
Interesting reddit post http://www.reddit.com/r/primecoin/comments/1hw40d/description_of_the_algorithm/
July 09, 2013, 07:17:44 AM
How much XPM there will be existence, approximately? Or is it totally unknown?
bump
Its all in the paper, the cap is unlimited but as more people mine the coin generation decreases. The rate of mint is meant to be similar to gold mining. A small amount each year in the long run (inflation predicted at around 1% after several years)
Ok, thanks. Any estimate how much there will be coins mined 1 year from now?
July 09, 2013, 07:08:04 AM
I think it is safe to say this is a "Proof of Luck" coin. 
I think you guys are too used to mining pools if the randomness of non-pool mining seems strange!I was just kidding:-) Theoretically the mining speed should be strictly proportional to the searching speed which should be in turn proportional to the CPU frequency and the number of cores.
July 09, 2013, 07:07:01 AM
How much XPM there will be existence, approximately? Or is it totally unknown?
bump
Its all in the paper, the cap is unlimited but as more people mine the coin generation decreases. The rate of mint is meant to be similar to gold mining. A small amount each year in the long run (inflation predicted at around 1% after several years)
July 09, 2013, 07:04:37 AM
How much XPM there will be existence, approximately? Or is it totally unknown?
bump
July 09, 2013, 07:00:14 AM
I think it is safe to say this is a "Proof of Luck" coin.
I think you guys are too used to mining pools if the randomness of non-pool mining seems strange! July 09, 2013, 06:58:07 AM
I think it is safe to say this is a "Proof of Luck" coin.
July 09, 2013, 06:52:10 AM
I found 21 block total
last one was found about 2 hours ago
with what are you mining?last one was found about 2 hours ago
Two Intel(R) Core(TM) i5 CPU 750 @ 2.67GHz
And
One Intel(R) Core(TM) i5-2500K CPU @ 3.30GHz
With stock frequency
I found 21 block total
last one was found about 2 hours ago
last one was found about 2 hours ago
Are you using a private miner?
No its primecoind =)
July 09, 2013, 06:48:53 AM
I found 21 block total
last one was found about 2 hours ago
with what are you mining? last one was found about 2 hours ago
July 09, 2013, 06:45:13 AM
My first solo mined coin
Was starring at screen, wondering if anything would actually happen... and 18.77 XPM just appeared :]
Took me 6:30 hours on a iMac 3.4GH i7
Was starring at screen, wondering if anything would actually happen... and 18.77 XPM just appeared :]
Took me 6:30 hours on a iMac 3.4GH i7
Wow, that's a long time to be staring at the screen but whatever helps...
-tb-
July 09, 2013, 06:45:07 AM
Mining in virtual machines doesn't seem detrimental.... I just have a machine at home with an i7, brought up a VM with 2 cores to mine, those 2 cores were getting 80-150 pps, and while it took close to 17 hours to find my first block, I've now found 5, which seems about on par with what other people are getting on their ordinary computers.
Just checked a couple of my servers at the office - an ancient Dell Server PE860 with a lowly Intel Core2 Duo E4500 has't been scoring more than 25pps, but found 2 blocks overnight, while slightly less outdated Xeon X3430 has been hitting 100-120 and also found 2 blocks.
UNtil pools arrive, I'd almost think that pps doesn't matter, it's more luck than anything else. Once pools are in existence and awards are assigned by the amount of work contributed, it might have the effect of making older CPU's worthless, but for right now, luck seems to be the overriding factor.
Just checked a couple of my servers at the office - an ancient Dell Server PE860 with a lowly Intel Core2 Duo E4500 has't been scoring more than 25pps, but found 2 blocks overnight, while slightly less outdated Xeon X3430 has been hitting 100-120 and also found 2 blocks.
UNtil pools arrive, I'd almost think that pps doesn't matter, it's more luck than anything else. Once pools are in existence and awards are assigned by the amount of work contributed, it might have the effect of making older CPU's worthless, but for right now, luck seems to be the overriding factor.
July 09, 2013, 06:44:58 AM
I found 21 block total
last one was found about 2 hours ago
last one was found about 2 hours ago
Are you using a private miner?
July 09, 2013, 06:42:30 AM
I found 21 block total
last one was found about 2 hours ago
last one was found about 2 hours ago
July 09, 2013, 06:39:47 AM
Does anyone recommend overclocking a CPU? This is my processor: http://ark.intel.com/products/52210/Intel-Core-i5-2500K-Processor-6M-Cache-up-to-3_70-GHz
It's currently at 3.3 GHz and the Max Turbo Frequency 3.7 GHz
Anyone recommend boosting it for the Max Turbo? and do you believe that will help?
It's currently at 3.3 GHz and the Max Turbo Frequency 3.7 GHz
Anyone recommend boosting it for the Max Turbo? and do you believe that will help?
I wouldn't bother overclocking just yet. My older laptop is finding more blocks than my i7 desktop. I'm going to fireup my intel atom and see what it can do.
-tb-
If you get it working, tell me!
July 09, 2013, 06:38:46 AM
Does anyone recommend overclocking a CPU? This is my processor: http://ark.intel.com/products/52210/Intel-Core-i5-2500K-Processor-6M-Cache-up-to-3_70-GHz
It's currently at 3.3 GHz and the Max Turbo Frequency 3.7 GHz
Anyone recommend boosting it for the Max Turbo? and do you believe that will help?
It's currently at 3.3 GHz and the Max Turbo Frequency 3.7 GHz
Anyone recommend boosting it for the Max Turbo? and do you believe that will help?
I wouldn't bother overclocking just yet. My older laptop is finding more blocks than my i7 desktop. I'm going to fireup my intel atom and see what it can do.
-tb-
July 09, 2013, 06:35:09 AM
the rate how blocks are generated now is exploding oO
because some people made their own configs/miners. This is normal. Soon someone will go public.
After finding a block every 3 hours, nothing since this morning... Soon I will redirect my cpu's to something else until an optimized miner pops up.
Jump to: