[XPM] The gold standard no premine | Bitcointalksearch.org

AgentME

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Primecoin is dead in the water due to Botnets.

Currently there's a 600K PPS monster botnet herder out there collecting about 75% of the coins, that's why you're lucky to hit a block every three days with 5000-15000 PPS now.

Any CPU based coin will be owned by the Botnets as soon as any real profit can be made.

Sunny King better get a GPU miner developed pronto if he wants this to live very much longer.

For the record, I believe that Primecoin is the first truly innovative alt coin in a very long time.

~BCX~

Primecoin mining might be more difficult now, but I don't see how that kills the coin.

FiiNALiZE

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Quote from: ?? on ??

Primecoin is dead in the water due to Botnets.

Currently there's a 600K PPS monster botnet herder out there collecting about 75% of the coins, that's why you're lucky to hit a block every three days with 5000-15000 PPS now.

Any CPU based coin will be owned by the Botnets as soon as any real profit can be made.

Sunny King better get a GPU miner developed pronto if he wants this to live very much longer.

For the record, I believe that Primecoin is the first truly innovative alt coin in a very long time.

~BCX~

I talked to someone who supposedly is running 1mil PPS on a private VPN.

He showed me a screenshot and the blocks were coming in like hotcakes.

Once the difficulty hits 9, I'm giving up.

jubalix

legendary

Activity: 2632

Merit: 1023

Quote from: ?? on ??

Primecoin is dead in the water due to Botnets.

Currently there's a 600K PPS monster botnet herder out there collecting about 75% of the coins, that's why you're lucky to hit a block every three days with 5000-15000 PPS now.

Any CPU based coin will be owned by the Botnets as soon as any real profit can be made.

Sunny King better get a GPU miner developed pronto if he wants this to live very much longer.

For the record, I believe that Primecoin is the first truly innovative alt coin in a very long time.

~BCX~

uh no, you can hit a block a day with 14K PPS

and in any event the 600K PPS person to have those resources are unlikely to squander the coins, and the secure the blockchain

and you are free to secure your own "botnet"

it takes time to set up a good miner and it takes risk, eg the price can drop etc.

theokep

newbie

Activity: 43

Merit: 0

Quote from: ?? on ??

Primecoin is dead in the water due to Botnets.

Currently there's a 600K PPS monster botnet herder out there collecting about 75% of the coins, that's why you're lucky to hit a block every three days with 5000-15000 PPS now.

Any CPU based coin will be owned by the Botnets as soon as any real profit can be made.

Sunny King better get a GPU miner developed pronto if he wants this to live very much longer.

For the record, I believe that Primecoin is the first truly innovative alt coin in a very long time.

~BCX~

100% agree with this. I really wish there was some way to make botnets not work (without GPU miners). That would solve this problem Sad

skull88

hero member

Activity: 683

Merit: 500

Quote from: Hydroponica on July 20, 2013, 12:31:36 PM

So, how many of you got rich off PrimeCoin, while the Dev had to run around and buy his own coin off you? How many exchanges and pools are collecting fees off PrimeCoin, while the Dev received fuck all for his efforts?
Yep, sounds right to me

If he wanted something for his work, he would accept donations, I and others would gladly give him some for his effort. So what is your point exactly? Sunny got everybody's respect as a human and developer, and maybe one day he hits the books as one of the most important people in the history of cryptocurrency's. Maybe that's much more worth to him than some fast money?

And exchanges and pools earning money by providing a service? No way, how do they dare to do that! Shocked

AgentME

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Activity: 84

Merit: 10

Quote from: Hydroponica on July 20, 2013, 12:31:36 PM

So, how many of you got rich off PrimeCoin, while the Dev had to run around and buy his own coin off you? How many exchanges and pools are collecting fees off PrimeCoin, while the Dev received fuck all for his efforts?
Yep, sounds right to me

The dev was probably mining just like us too. Is he not allowed to participate in the market by buying more if he wants? And why isn't it natural that services like exchanges make money off of fees?

Lauda

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Activity: 2674

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Terminated.

Quote from: Hydroponica on July 20, 2013, 12:31:36 PM

So, how many of you got rich off PrimeCoin, while the Dev had to run around and buy his own coin off you? How many exchanges and pools are collecting fees off PrimeCoin, while the Dev received fuck all for his efforts?
Yep, sounds right to me

I seem to see only 1 person selling the same story on cryptsy.. yeah go on

Hydroponica

full member

Activity: 182

Merit: 100

fml

So, how many of you got rich off PrimeCoin, while the Dev had to run around and buy his own coin off you? How many exchanges and pools are collecting fees off PrimeCoin, while the Dev received fuck all for his efforts?
Yep, sounds right to me

skull88

hero member

Activity: 683

Merit: 500

If I remember it correct Coblee did the same with releasing Litecoin.
Comparing it to Satoshi isn't fair because Satoshi just couldn't do anything else, Bitcoin would be dead if he didn't mine it by himself.

But I got to say, start to become more and more positive about this coin, so I don't mean anything bad with it, it was a release like a release got to be. The fairest possible.

tacotime

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TheSwede75

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Quote from: jubalix on July 19, 2013, 03:04:42 AM

Satoshi, sat their by himself for ages mining, all credit to him.

Almost every coin that followed has a premine for bounties or for the creators, in some form

Sunny King has set the bar with XPM for no premine, to the extent he is going round having to buy XPM.

With the small caveat of optimization in the early stages, XPM by a clear prospective announcement, followed through with a new mechanisim/hash,

XPM is GOLD STANDARD for no premine of any sort.

Yet another bow for XPM and why it is going ++

Naive statement. Once people start investigating the block chain, GPU mining takes off etc. XPM will seem "as premined" as BTC in light of few early miners on CPU farms pushing 2.000.000 pps at it at relatively low diff.

The crypto landscape has changed vastly since BTC was introduced. Bitcoin wasn't 'pre mined' by today's standards, there just wasn't the same interest. satoshi released everything needed for mining bitcoin faster them most devs of any coin has since, the community just wasn't there back in the day and he HAD to keep mining it almost alone to keep the block chain alive.

Lauda

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Terminated.

Quote from: AgentME on July 20, 2013, 08:44:41 AM

Quote from: h2odysee on July 20, 2013, 07:21:46 AM

Having an optimized miner, while everyone else has a slow reference implementation is no different from a premine.

How is that the same at all? A premine would go straight to the developer. People who optimize their miner get what they mine, just the same way as if they had a faster machine to begin with.

He's just mad that he didn't get in on time. People who optimize their miners with the right settings get more hashrate on any coin, is that no different from a premine too? Cheesy

AgentME

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Quote from: h2odysee on July 20, 2013, 07:21:46 AM

Having an optimized miner, while everyone else has a slow reference implementation is no different from a premine.

How is that the same at all? A premine would go straight to the developer. People who optimize their miner get what they mine, just the same way as if they had a faster machine to begin with.

Carra23

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It has been one of the fairer launches. I got a few blocks too with my CPU. The optimizations meant that people with skills got the benefit first.

To play devil's advocate though, maybe Sunny was mining away with an optimized miner from start, which doesn't make it much different from a premine. Actually, its worse than an announced premine. But then, he developed this innovative currency, so maybe he deserves a head start.

Bottom line, you can always argue for and against almost any Cryptocoin out there. The reason I think its pointless to worry about it.

h2odysee

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Having an optimized miner, while everyone else has a slow reference implementation is no different from a premine.

That said, it's cool to see innovation like the prime number thing, and it's fine by me if the developer gets some money out of it.

alexxy

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Quote from: Lauda on July 20, 2013, 04:26:59 AM

Quote from: mercSuey on July 19, 2013, 07:12:01 PM

So here is the precedent. XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness. Really honorable of you. Roll Eyes

Wait untill you start earning 2 XPM per block, you will enjoy the overtaking of any coin price Wink

To get 2 XPM per block you need difficulty ~22.4 (since reward = 999/(diff^2)) so net power should be 30^(22.4-9) ~ 10^19 times more then now

Lauda

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Terminated.

Quote from: ?? on ??

Quote from: Lauda on July 20, 2013, 04:26:59 AM

Quote from: mercSuey on July 19, 2013, 07:12:01 PM

So here is the precedent. XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness. Really honorable of you. Roll Eyes

Wait untill you start earning 2 XPM per block, you will enjoy the overtaking of any coin price Wink

Any projection on when is that supposed to happen? Year 2020? Seriously, is there any calculation for hashrate required to hit 2 XPM per block?

10^19 times this current hashrate according to some trollz that might not be that off.
Around ~22 diff needed for that.
Maybe if i fire up all supercomputers in the world, who knows Cheesy

Lauda

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Terminated.

Quote from: mercSuey on July 19, 2013, 07:12:01 PM

So here is the precedent. XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness. Really honorable of you. Roll Eyes

Wait untill you start earning 2 XPM per block, you will enjoy the overtaking of any coin price Wink

mercSuey

sr. member

Activity: 364

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So here is the precedent. XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness. Really honorable of you. Roll Eyes

mastadonballs

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I agree, XPM is definitely a game changer that took advantage of the mining process to produce relevant information for our society, but I didn't like your recognition statement. Tongue

*wish it would have been more elegant*.

at least i'm being honest.

sorry for being a dick, but really i'm not.

Topic: [XPM] The gold standard no premine (Read 1888 times)