raspi

no probs,  PM me if you have problem.

Ok.    Thanks...

Yes that's correct, I've written an article about why I think it's a bubble http://www.josephshanahan.com/willbitcoinreach1000.html

Thanks,  just read your article, great points, I do agree with most of it.. 

Have a point to add, the growing inflation of fiat currency driving the price up..  

Bitcoin as with other cryptocurrency, are suppose not to have a inflation, so when matching a inflation currency against a non-inflation currency, the default direction is that the price ratio is going at the rate of the inflation rate. So, given time, if bitcoin is still around and has lots of acceptance, it can hit >USD$1000, Just that maybe by that time, it cost $50 for a cup of starbucks coffee.

(side point, as you've said, concentration of mining, so moving towards FPGA for scrypt mining isn't really moving forward for the coin, it should be using what is most abundant => CPU, so whales will have a hard time controlling it. - which may lead to another point, big boys- gov, big corp,etc, may pushing forward for bitcoin to be accepted just because they have control.)

I've been swamped lately, but I'm trying to follow up on this and see what I can find out about getting some official client/wallet and daemon releases posted.

 

Sorry in advance if I don't get this info quickly.

No worries, its not the end of the world.. 

Its a great to have, not a must have.. so don't burn too many brain cells over it..

yeah, sorry bout that mate. since i cant find source code for 0.6.5, so no new version for Linux build.

 

heres OUTDATE version of Linux build:

 

All distro:

https://dl.dropboxusercontent.com/u/9073546/Cryptocurrencies/mincoin-qt-linux-0.6.4.tar.bz2

Arch Linux:

https://build.opensuse.org/package/show/home:aguswinata/mincoin-qt

Hey, thanks a lot..

Hmm... not really sure what the pure needs of the coin are, with regards to network hash rate. I'm sure the maths are simple for someone less tired and distracted with other work than I am at the moment.  The network hash rate has to do with moving coins around in transactions, as well as ultimately releasing the normal inflation rate into the wild.

 

The thing is, if only one CPU was mining the coin, the difficulty would go extremely low so that this one miner got blocks roughly every minute. It would be something like a diff of 0.00001 or whatever.  So technically, if I'm thinking of this correctly, you only really "need" a single miner running constantly to get all the coins for the network and to move the transactions through.

 

The diff increases/decreases in a manner as to constrain the flow of new coins every day.  The higher the hash rate before the next adjustment period (every 60 blocks, there's an adjustment), the faster transactions flow during that time. However, after the diff goes up, things slow back down to closer to the 1-minute mark again anyway.  (Then, typically, a bunch of miners fall off as they think it's too hard to mine at the new higher difficulty, which then slows the network down a bunch with transactions slowing to a potential crawl until the difficulty drops considerably to match the lower network hash rate.)

 

...I feel like I'm talking in circles.  I don't have time to edit this post better, so I hope it's making sense.

 

There's really no doubt that all this stuff is a big waste of energy -- crypto-mining in general.  The biggest issue is to make sure there are enough distributed nodes mining/hashing to protect the network from some big whale coming along and finding most of the blocks and performing a malicious "51% attack" on the coin.  With that in mind, the more network hash there is, to some degree, the more secure the network potentially is.

 

...again, I think that's roughly coming out correct.  I'll wait to see if anyone rebukes my points here to come in and clarify better.  I hope I'm making at least some sense.

 

The idea of using all this power for something more valuable to the world society is a bit of a Holy Grail at the moment. There have been some efforts, but currently they're not showing too much fruit, from last I checked.  CureCoin was one of them, but my research on the subject is stale.

 

I'd personally LOVE to push all my hashing power at something like protein folding or such.  It's just that there's also the greedy side of things where protein folding (et. al) don't make money for me, and I'm not in a position to be very altruistic at the moment.. unfortunately.

Wow, thanks for the explanation..    its very clear..    and I get it..  So, we are all just really wasting energy so as to compete against each other for a limited flow of coins by the increase in difficulties.

I understand the whale 51% attack part, but isn't it true that if the algo is kept at using just a CPU based, the whale has a much harder time to gather the power. since there are more CPU in the open then there are GPU, FPGA and ASCII. Thus, the power is really in the hands of the public and not just some whale who manage to set up some big farms and using FPGA and ASCII are easier for whales as they have the $$$ and there are a limited number of people who will be getting a FPGA or ASCII just for mining.

As to finding a meaning for the extra computation power as a mean of flow control, really, I do see a great potential to that, its there, especially so when mincoin is now considering to move away from scrypt, so why not look for a soul too. primecoin is a great example, it does prime numbers, only does it using CPU (not to sure how is the GPU development going.) It has a soul - prime numbers. and its a cryptocurrency at the same time. I understand the greed part, of wanting profit, so why not integrate both? example we used, protein folding, thus everytime it finds a protein structure match, it is a block, instead of using difficulty as a flow control, why not flow control the block payout per time range. thus if more blocks/protein match, the lesser the coin payout. Thus per minute, only 2 coins, so if within that minute there are 100 blocks found, it will give out 0.02 coins per block/protein find. in the next minute, only 10blocks found, it will give out 0.2 coins per block. Non of the extra computation power will go to waste as increasing loops in the UN-needed calculations.

I am sure there are many many more technical and non technical details that need to look into, but hope mincoin can be moving towards the holy grail. A commodity coin with a soul.  => it makes money at the same time has a worthy cause too.

damn right! this was pre baidu

Haha, great..  hee..   hmm..  pre baidu as in the chinese website?

zhinkk and i have it in the works

Wow, great..   Looking forward to it..    

Not that I've seen posted anywhere.  There will be a new wallet coming out soon from what I've heard, so may just want to wait on that.

 

You also may just want to store your MNC at mcxNOW.com to gain interest on it, at least until the next wallet is out since it's so soon?

Thanks for the info, notice the new wallet is released..  0.6.0.5

but its just a windows version..  (I know can compile from source, but was hoping for binary with static linked..  so that I don't have to install those dependency files.)

Thanks

done, support both 32bit and 64bit.

 

please reupload it to better file hosting.

 

 

https://dl.dropboxusercontent.com/u/9073546/Cryptocurrencies/mincoin-qt-linux-0.6.4.tar.bz2

Hi,

missed downloading your linux build..  but you've removed the files already.. 

Is it possible to put it up again?  like to test it.. 

Thanks.. 

I will just have to write an FPGA for whatever algorithm we choose then

 

But what is the point of changing it? do we just change the algorithm once we decide there are too many people mining it?

The point is to avoid multi-pool mining that just switch in and out creating a high difficulties for loyal miners and cutting away the profits from the loyal miners when the difficulties drops.

I am actually more supportive of CPU mining than GPU or even FPGA mining, as CPU mining would means every single person in the world will be able to mine it.

Not everyone has a GPU and not everyone can afford a $8K-$10K FPGA just to mine some coins for a beer gathering or for fun or support.

Just like to ask a question, what is the minimum hash rate that mincoin requires to perform its normal day to day transactions(coins confirmation, transfer, etc...)

If the difficulties is low enough to perform all the coins basic requirement. is it true that any increase in difficulties is just simply adding extra computationally and electricity wasteful difficulties to control the flow of coin distribution. So as the coin gets more popular, the more people mine it, the more wasteful is to the earth natural resources.

Isn't it better to turn that extra computation power for a better use, like protein folding or something. thus if at bare minimum, all computation is 100% to coin support, if increasing computation, flow controls kicks in (difficulties), but by dividing the work more towards say protein folding 80%, and mincoin transaction 20%..  and so on and on.. 

This would make going from a CPU mining to GPU to FPGA to ASCII mining, worth it. since its for a better cause and not just converting electricity to heat for nothing. If it can't be done, then, might as well just let it be a CPU only.

Or did I got it all wrong, that the increase in difficulties actually is required to support the coin's operations.

Thanks

currently mincoin is still below 0.001.

Is the moderator/thread starter on a buying spree now?

faucets are great for people who can't really mine it, as they don't have a GPU. or they have a old computer, that is great for surfing the web, typing a report and that's it. But now with a faucets, these group of people can also slowly, build up their own funds and later, be part of the crypto community.

If the funding for the faucets can be supported by the ads, why not. it sometimes beat earning coins through mining and paying the utility company.

I believe that CPU mining still has a place especially those who are getting free electricity, also my guess as to why not use the GPU instead. Well, it may be just for the fun of it going to a local library, with a laptop that doesn't have a red/green GPU. And just mining away while one does his/her own work/reading. The fun of it generating a few decimal point coins at a pool.

The point is, for fun and at the same time gives a little support to the mining effort.

We should petition RealSolid to do a mcxFEE > MNC pair!

 

MNC is mcxNOW's #1 crypto commodity afterall!

Great, thus increase the interest on the MNC holdings too.. at the expense of BTC.

So, MNC is by RealSolid like SolidCoin/Microcash.

So to position MNC as a digital commodity and SC/Microcash as a digital currency  = digital form of fiat.

But where does bitcoin fits in? is bitcoin more of a digital commodity? if so, isn't every alt-crytocoin a digital commodity? if yes or no, why is MNC the first digital commodity?

Sorry, confuse newbie here.

HAHA!   I mean seriously?!  How small of a sq footage could you get away with trying to run 7500.  You'd obviously need to buy an extra transformer for where they're at.

Maybe he was just referring to the model..  AMD 7500 GPU..  kind of a low end model...  like saying the high ends are 7900 or 79xx. ;p

I've seen those debates.  I think it should be in it's own catagory as a spendable commodity.

As in like Gold?  walk in to a store, I have a cup of latte, here is 1/10 gram of gold for payment.

Or is it like, I have a bag of sugar, for your cup of coffee..   if so, isn't spendable commodity = bartering?

In economics, a commodity is a marketable item produced to satisfy wants or needs. Economic commodities comprise goods and services.

taken from wiki.

I am really a newbie on this, but how does a cryto coin fits in as a goods and services to be define as a digital commodity? Isn't Min-coin still define as a currency as a means to represent a IOU or value backing(as in against exchange for BTC).

But where does the value of MNC comes from? Is there a market place? What are the development plans?(will need to read up more on this) or are the price rise coming in from speculators?

Hi,

is there pre build binary for linux? like those at bitcoin and litecoin where one just download and just run the qt file instead of having to compile it.

Thanks

Oh yes, where do one check the difficulty level?

Thanks

Hi, how long does it takes to solo mine at 1Mhash/s? is it in days, week or months?

Hi

I'm new here, just heard of Min-coin..  interesting.