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http://blockexplorer.vircurpool.com/chain/MinCoin

Well, yea. Nothing will perform better than an ASIC...because it's application specific. But it is entirely possible to write an algorithm that is optimized for CPU; that is, you could easily write an algorithm with which a $300 CPU would drastically out-perform a $1,000 GPU. It depends entirely on the math behind the algorithm. Processors all do the same things essentially, so why do CPUs and GPUs perform differently for different tasks? It's because of their design. CPUs are designed to perform maths, which is what allows software to run on computers. GPUs perform maths as well, but with a focus on graphics aka vectors and rendering. I would be interested, however, to learn more about this "proposed" algorithm.

Think of it this way. At 10,000 Khash/s, it would still take ~ an hour to mine one block (2 MNC). Solo mining isn't very practical for average miners. If you've got 5 rigs with 3 7950s or 7990s each then you could do it, but I might stick with a pool even then.

Welcome to the forums, man. The more people contributing to the community the better Cheers

Anybody else? Would anyone use something like this?

Maybe we would have to call it a raffle if the server and company were located in the United States, but a mincoin lottery or raffle would be great. To start, we have to assume that not many people would be using the service, so we'd want to make the total possible combinations relatively low. So I suggest 3 Balls with a 29 Range (ex: Ball 1: 5; Ball 2: 27; Ball 3: 16) The math for this is: 29! / 3!(29-3)! which simplifies to 29!/6(26!) which equals 3,654 possible combinations. The way it would work: A certain amount of MNC (maybe .01, maybe .1, or whatever) gets you one "ticket". You pick your numbers for your 3 balls. We could do hourly drawings, and if after a drawing no one has picked the correct numbers, the MNCs go into the next batch, in the same way regular lottery works. OR we could guarantee a winner every drawing. IDK, it's something to think about. I don't know if enough people would be interested in doing it. But, let's talk about it.

What do you want to use the API for? AKA, what do you want to do and what data do you want?

What do you mean by mincoin mining tools, and wallet/transaction managers? The qt wallets take care of transactions, and there are plenty of miners out there already that work for all scrypt coins. Blockchain analysis can be found on various websites, but it would be nice to see a GUI software app that's connected to the networks of coins and gives you historical as well as real time data for blockchains, exchange rates, difficulty rates, etc. **To-Do: Start planning this project**

@Noctis, it is technically possible to mine with the wallet. The best way to do it, however, is to use cgminer (in GUIminer-scrypt if you like) and a mincoin.conf file. Essentially, you create a file called mincoin.conf, which should look something like this: listen=1 daemon=1 server=1 rpcuser=YOUR_USER_NAME_HERE rpcpassword=YOUR_PASSWORD_HERE rpcallowip=192.168.*.* rpcport=9335 port=9334 You can modify the ports if you like, as well as the rpcallowip. If you're LAN isn't 192.168.x.x, change it to 10.x.x.x, or whatever yours is (unless you plan on solo mining from computers not on your local network. Then you would allow all. The asterisk (*) means any value. So 192.168.*.* means 192.168.1.1 -> 192.168.255.255 Whatever value you set for your rprcport would be the port in cgminer. Host would be localhost. Username and password are obvious. The rest of your settings depend on your graphics card, and your extra flags should be played with to reduce stales. The image below is my setup, but I do not solo mine MNC anymore, because I only have ~ 1.3Mhash/s. If you want to solo mine, you should have a high hashrate, and make sure you get your settings exactly right to prevent stales. Make a shortcut from your wallet qt and add the extension -server at the end. (The -datadir is just something I use to change the location of the blockchain. I use SSDs for my OS, and don't want to waste gigabytes on my SSD for coin blockchains, so I use a different hard drive for my data directory. And, the data directory, whether in your AppData/Roaming/mincoin or elsewhere, is where you store your mincoin.conf file. When you launch this shortcut, mincoin launches as a server, provided mincoin.conf is properly configured. After launching, run cgminer in GUIminer-scrypt and enter the information and you'll begin mining. However, you won't see shares increase rapidly as you do in pools. When you solo mine, one share = 1 block found. At 1000KHash/s, it would take ~ .45 days aka 10.8 hours to mine one block (2 coins). So, you can do this and not have to worry about pool fees, but if you aren't setup properly with a high hashrate, flags, overclocking, etc, you run the risk of wasting 11 hours and getting a stale (in which case you get 0 coins). Now, luck comes into play, so instead of 11 hours, it could take 4, but it could also take 17. If you mine for a week, however, it should start to average itself out. PM me if any of this doesn't make sense.

@alttin, lulz. I think right now it's hard to distinguish. Really, every crypto-"currency" or "commodity" COULD be considered both. True commodities, however, are purchased with currency, or traded for other commodities, while true currencies are used to purchase goods (including commodities) and services. So, it's difficult to place a firm definition on mincoin, since you could "purchase" goods with it, making it a currency, but you could also exchange it for other coins, which, if they are considered to be commodities, would mean that mincoin is a commodity. However, if we assume that all other crypto-coins are currencies, then exchanging mincoins for other coins would make it a true currency. It's tricky stuff best left to the economists and people wiser than me.

And yea there were a lot of dumps, too, which seems to have ended.

Hrm, it's strange. According to http://www.coinwarz.com/difficulty-charts/mincoin-difficulty-chart, the difficulty has jumped drastically, and according to mcxnow, the hashrate is ~56Mhash. I suppose it could be that, but someone else should probably confirm or correct me.

I've read a bit on scrypt, but this paper is extremely informative, even if some of us goes over my head. Still though, just like after reading Brian Greene's "The Elegant Universe", I have a much better understanding of it than I did before. And, as Greene's book inspired me to learn more about theoretical physics, so too did this paper inspire me to learn more about, not just scrypt, but cryptography in general, something I've been meaning to do for a while but just haven't gotten around to. Thanks for the post bro. It's insane how powerful scrypt is relative to other encryption algorithms. Let's just hope P!=NP lol (normally I would feel awkward making a math joke, but I feel very comfortable doing one here...plus, if it's proven that P does equal NP, well...that's the day I'm selling every coin I own and changing every password I have on every website and then going totally offline until I figure out what to do lol...) PS. Your top two links are both to the PDF. The one that says main site is the same link as the white paper - the PDF. I think you were probably trying to go for http://www.tarsnap.com/scrypt.html

Why 13.1 and not 13.4 or the newer 13.9 and 13.11 CCC drivers? I'm using 13.4 and get ~680Khash/s with my gigabyte 7950 in Windows with 13.4 drivers and 20 intensity, 21712 thread concurrency. I get 600 with my MSI at 17 intensity (it's the GPU for my monitor so I can't put it up to 20 or it overheats, but in BAMT the MSI hits about 650 at 20 intensity). I had 13.9, but went down to 13.4 based on various research, so I'm wondering if I should again switch to 13.1 if it would improve my cards' performance.

Protein folding, SETI, etc can all be done without taking away your hashing power if you use your CPU. Depending on what you're trying to "solve" or "help with", GPUs may be more effective than CPUs, but this is not always the case, and there are plenty of scientists that would love if everyone would lend them even 10% of their CPU power. I use Berkley's BOINC for several projects, and it utilizes my CPU, which is a 3rd gen i7 overclocked to 4.8, so I'm still giving a little back to science lol.

FPGA would be sick, but I'm both excited and weary of the day when scrypt ASIC miners appear in force, as SHA-256 ASICs exist today. I personally know several people who each own between 1 and 16 ASICs mining at ~500-600 GH/s (for SHA-256). While I agree that video cards are just not efficient enough, that's only true if ASICs exist. As soon as 10 people are running ASICs for one coin at 25,000KH/s each, the network hash rate will be so high that the difficulty will increase radically, which is why right now is such an important time to be smart with your GPU scrypt mining and what coins you pick. But game dev would be awesome as well. Any computer dev actually.

Very well said. You're clearly not only intelligent in maths and fundamental economics, but you are clearly doing your research in the field. I've read some of the posts on your website as well, but this is a very good read for "average" miners and traders that have just "jumped onto the altcoin wagon" lol Great post. Just like trading stocks or "real" currencies, very few people actually get "relevant" news in time to do anything meaningful with it. The people privy to such information immediately are controlling large stakes of coins. The average person can't rely on news. They need to do research, read charts, and try to anticipate long-term changes and hedge their bets long term. To be an altcoin "day-trader", you'd need to be on the computer all day long, in dozens of IRC channels, watching real time stats, writing custom software to analyze profitability (instead of using sites like coinchoose), and, of course, get some money together to build a decent mining rig. Since I've, "got back in the game", I've been spending an hour or so daily researching the actual difficulty and exchange rate fluctuations and putting what I consider relevant into a SQL database I wrote. I spend a few hours a week writing the software I plan to use in the future to help me determine not only what to mine, but what to buy/sell/trade and at what values on the various exchanges. It's a tedious project, but it's a project that's fun for me not only as a programmer, but as a crypto currency lover.

Yea of course lol. I added you as friend. Send me a PM and we can talk Cheers

I'm honestly holding long term. The only way I'll sell short-term is if I see a potential opportunity to sell and buy back for a lower price. I do that everytime BTC becomes volatile.

Ugh, this thread makes me so upset. I started mining BTC back in 2011, and I stopped as difficulty made it so I could only mine one BTC every week. I stopped when I had around 50 BTC, and sold 40 of them at $20 When I came back several months ago, I used some BTC to purchase newer scrypt coins in hopes that their relative values would increase long term. However, while I've made some great bets, there's a few trades that I wanted to do, but didn't for one reason or another, that would have resulted in >10,000% increase in value just a few short months later.

scantime, expiry, and queue are all important. You can also just do -s -E and -Q instead of the full names. I vary, but my most common is something like -s 5 -E 5 -Q 4, but each varies coin to coin and pool to pool. Even though this is all math, sometimes it comes down to trial and error to find your best settings.

I switch up what I mine usually once a day, but I have 2 7950s, one of which gets me 690KHash/s and the other gets me 610KHash/s. I usually switch between FTC, DGC, CGB, LTC, and MNC. Usually about once a week I solo mine coins like GDC, EMD, ORB, DMD, IFC, etc that I can safely solo mine just to diversify.

@jellyfish420 - that's accurate. For 650-700khash/s, you should be mining a little more than 2 MNC/day. Solo mining is only smart (imo) if the coin you're mining has a block that YOU can find in an hour or less, unless you really know what you're doing to avoid stales. An MNC block is 2 coins, and at 1Mhash, it should take ~12 hours to mine one block (2 MNC). Luck comes into play, so that 12 hours could vary greatly, but IMO, it's much wiser to mine in a pool in situations like this to avoid wasting half a day of mining. I only solo mine coins that I can mine in an hour or less (for a block).

Heh. I like that; I feel as though I've heard it before in reference to something else, but it certainly applies to cryptocurrencies. It's still so young, and yet its community is vast and ever growing. That and, it's great to get in day one of a new coin lol.

I'm a developer but it's the holiday season and I'm so loaded with extra work just to pay bills...and have money to buy gifts for people who are going to buy me gifts. I never understood this concept once you passed the age of 18. Holiday gift exchanges just feel wrong to me. If everyone spends more money around the holidays anyway, why not spend it on themselves so they get what they want, and just write genuine cards to family and friends? Ugh, anyway, yea, this wouldn't be that difficult a project considering the litecoin android wallet exists. I'll clone https://github.com/hank/litecoin-wallet tonight, and when I have some time, I'll take a look at the code. I've developed android apps before, so I have the technical ability; it's just a matter of time. If no one completes this by the end of the year, I'd be more than happy to work on it. Better yet, if there are any other devs out there, preferably ones familiar with how cryptocurrencies actually work, we could start a git repo and get cracking on an android wallet right away.