Cryptocoin Mining?

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Atreidin

Senior member
Mar 31, 2011
464
27
86
dammit missed the boat on Auroracoin. I did see but 50% premined deterred me away.

Don't worry about it, just wait for the airdrop, then claim coins for your millions of Icelandic relatives, using the publicly available database of names and ID numbers. To my knowledge there's still no detailed plan on how to authenticate Icelandic citizens and prevent them from claiming coins for multiple people, or even from foreigners claiming coins for Icelandic citizens. If a plan to distribute the coins fairly existed, it should have been detailed by now. It should have been detailed before the coin even launched.
 
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Feb 19, 2009
10,457
10
76
Don't worry about it, just wait for the airdrop, then claim coins for your millions of Icelandic relatives, using the publicly available database of names and ID numbers. To my knowledge there's still no detailed plan on how to authenticate Icelandic citizens and prevent them from claiming coins for multiple people, or even from foreigners claiming coins for Icelandic citizens. If a plan to distribute the coins fairly existed, it should have been detailed by now. It should have been detailed before the coin even launched.

They can do the good ole postal system, send out to valid addresses to Iceland residents, on the letter, there's a cryptic code along with information.

They visit website, enter their wallet address along with the code and claim. Bam, sent. Pretty easy to setup, but its going to cost $$ sending out paper mail to that many households. I guess the devs can easily use a few % of the premine to fund their air drop...
 

SunnyD

Belgian Waffler
Jan 2, 2001
32,674
146
106
www.neftastic.com
kdc.poolminewith.us is updated to the official fork (again) and running.

I'm not sure if an updated wallet for windows is out yet, so be weary of transferring anything out at this time.
 

Bubbleawsome

Diamond Member
Apr 14, 2013
4,834
1,204
146
Welp, I might get into dogecoin. We'll see if I can make it profitable with my super-cheap electricity. ($0.072Kw/h)
 

frowertr

Golden Member
Apr 17, 2010
1,372
41
91
Yeah, I just updated my linux box with the new KDC wallet, but still a bit worried about sending anything. I think as soon as coinedup is back open for business with trading KDC I'm dumping it and moving on.

What is everyone mining now? Looks like PANDA (the Scrypt-N one) got a makeover and appears profitable.
 

Erenhardt

Diamond Member
Dec 1, 2012
3,251
105
101
That is the deal with KDC? Why everyone is mining it? The profitability is in line with Vertcoin, yet vert seems to better coin for a long term mining.

And I could use help on SunnyD's vert pool
 

T_Yamamoto

Lifer
Jul 6, 2011
15,007
795
126
Yeah, I just updated my linux box with the new KDC wallet, but still a bit worried about sending anything. I think as soon as coinedup is back open for business with trading KDC I'm dumping it and moving on.

What is everyone mining now? Looks like PANDA (the Scrypt-N one) got a makeover and appears profitable.

PANDA seem profitable? It's sitting at 1 satoshi right now.

I'm mining Fastcoin. Pretty profitable for me.
 
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BD2003

Lifer
Oct 9, 1999
16,815
1
81
Pretty good article here from a banking trade rag:

http://www.americanbanker.com/magazine/124_02/why-bitcoin-matters-for-bankers-1065590-1.html

I have to say, this is probably the first somewhat "mainstream" (i.e., not tech-oriented) publication that I have seen which actually understands how Bitcoin works on several levels, and has a full and nuanced and forward-looking view of Bitcoin. Not just the coins, but the technology as a whole. The author sees the blockchain idea being used in "real" banking someday. Hell, just this image is probably the best "in a nutshell" Bitcoin explanation I've ever seen.





Confirmation depends on that transaction being used in a Block. Until it shows up in a Block, it might have propagated throughout the network (so both the sender and recipient can see it), but it will still be "Unconfirmed".

Some people/clients/whatever will not count it as "confirmed" until it has been included in a block, and that block has been confirmed in the blockchain several times over. (Commonly 1 extra block, 4 extra blocks, 10 extra blocks... depending on trust between sender and recipient, and value of the amount sent.) This is due to the possibility of orphaned blocks and the short-term forks that can happen due to them. (2 miners find a block at the same time; one of the blocks is reported to part of the network, the other block is reported to another part of the network... then the network figures out that it's got 2 different blocks floating around, and the majority rules as to which block was the real one, and which direction the fork should take.) When an orphaned block occurs, theoretically your transaction should be included in both the orphan block and the true block; but sometimes it might only be included in one or the other. (Or neither; but in any case, it should show up in a block soon.) (Miners can pick and choose which transactions to include in a block; paying a transaction fee bribes the miners to include it as early as possible, if it is not a high priority transaction. (High priority transaction usually meaning old bitcoins that haven't been moved around recently. This is to prevent blockchain spam, where 1 person could just send back and forth tiny amounts of BTC over and over again to millions of addresses.))

In any case, the block time of the network will determine how long it takes to confirm (whatever definition of confirm you choose). BTC is designed to have block times of 10 minutes on average, but it can go as low as a few seconds (somebody gets very lucky) or as long as 40+ minutes (the whole network has bad luck). I know I've seen BTC blocks in the 10-second range, and as I write this, miners have been working on the current block for over 30 minutes.

So DOGE transactions will be confirmed more quickly than BTC or LTC. It doesn't directly have anything to do with the network hashpower. It has to do with the block rate, which is programmed into the code by the designer of the coin, and which affects the difficulty scaling to match the hashing power of the network.

So, I suppose if a coin had a long difficulty reset period (like BTC = 14 days) and it were on a low difficulty but had a lot of hashpower come in, the blocks would come in quicker on average, which would speed up confirmation time. But as soon as the difficulty resets, it should go back to 10 minutes. (In the case of Bitcoin.)

That being said, it would be smart to require more blocks for confirmation for DOGE than for BTC or LTC. Since the blocks come so fast one after the other, there is a greater chance for an orphan or a short fork with DOGE.

So theoretically, bitcoin would be more suitable for larger transactions, being slower and more secure? And dogecoin better for quick transactions, giving up some security for that speed?
 

nwo

Platinum Member
Jun 21, 2005
2,308
0
71
Has anyone successfully received a payment from sunny's KDC pool on their windows wallet? I pointed one of my rigs back to it, but I'm wondering if I should turn off auto payouts???
 

IEC

Elite Member
Super Moderator
Jun 10, 2004
14,573
5,971
136
BTC testing $700...

And bam, $703.50 prints on Coinbase.
 

JDG1980

Golden Member
Jul 18, 2013
1,663
570
136
Was there some news today I missed? BTC was about $560 yesterday, then I checked earlier this morning and it was $620, then $650, and now it's near $700. Not complaining (I've got about 0.3 BTC from mining that I am going to cash out as soon as my CoinBase account is verified), but just curious why this is happening.
 

Subyman

Moderator <br> VC&G Forum
Mar 18, 2005
7,876
32
86
Only news out today was the MtGox paste bin of their code. Other than that, seems like people are back to speculating.
 

IEC

Elite Member
Super Moderator
Jun 10, 2004
14,573
5,971
136
Only news out today was the MtGox paste bin of their code. Other than that, seems like people are back to speculating.

Which if it actually is their code, reassures people this whole debacle was entirely Gox's fault. Because LOL @ their code.
 
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IEC

Elite Member
Super Moderator
Jun 10, 2004
14,573
5,971
136
Okay, who's taking bets on when the Auroracoin bubble bursts... brand new crypto and already a market cap almost 3x of Litecoin.
 

nwo

Platinum Member
Jun 21, 2005
2,308
0
71
Mined for a few hours on Sunny's pool and my balance didn't change. Even the unconfirmed balance from yesterday did not get confirmed.

Time to look for a new doge pool... Gonna try suchcoins for a few days.
 

SunnyD

Belgian Waffler
Jan 2, 2001
32,674
146
106
www.neftastic.com
Mined for a few hours on Sunny's pool and my balance didn't change. Even the unconfirmed balance from yesterday did not get confirmed.

Time to look for a new doge pool... Gonna try suchcoins for a few days.

Yesterday's unconfirmed MIGHT not ever confirm, given the fork issues. Technically they should orphan out. I'll look into that later.

Edit: Actually, I know exactly what the problem is. I have to hop in the database and fix something. Everything SHOULD be working on the back end though. Just stats and payouts are not working at the moment.

Edit 2: And BLAM, we're updated.
 
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Bubbleawsome

Diamond Member
Apr 14, 2013
4,834
1,204
146
Ok, I started doge mining over at rapidhash. CUDAminer says I'm getting 260Khash/s and Rapidhash says 461Khash/s. We'll see where this gets me.
 

Kenmitch

Diamond Member
Oct 10, 1999
8,505
2,250
136
SunnyD

What do you think about KDC currently?

The fork issues looked to have killed the value currently at lest on CoinedUp.
 

IEC

Elite Member
Super Moderator
Jun 10, 2004
14,573
5,971
136
SunnyD

What do you think about KDC currently?

The fork issues looked to have killed the value currently at lest on CoinedUp.

That's because no one has been able to deposit or withdraw KDC on CoinedUp for about 24 hours now.
 

KlokWyze

Diamond Member
Sep 7, 2006
4,451
9
81
www.dogsonacid.com
auroracoin should change it's name to charitycoin. wtf is that sh!t? Why do the citizens of Iceland need a handout? It's the #2 mined coin off the bat? Where did all the investment come from?
 

nwo

Platinum Member
Jun 21, 2005
2,308
0
71
So what's better R7 265 or 750ti for mining? I am leaning towards R7 265

265 will give you a much higher hashrate. However, 750Ti will use much less power.
Yesterday's unconfirmed MIGHT not ever confirm, given the fork issues. Technically they should orphan out. I'll look into that later.

Edit: Actually, I know exactly what the problem is. I have to hop in the database and fix something. Everything SHOULD be working on the back end though. Just stats and payouts are not working at the moment.

Edit 2: And BLAM, we're updated.
Yep, that's cool. I didn't worry too much about yesterday's unconfirmed, but I was expecting today's earnings to come through.

Seems to be fixed and back to normal now. Thanks!
 
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