Mining Pool Hub I Home

NobleCoin

A crypto currency for the most Noble.
[link]

Start Here for Much Wallet WOW!

EDIT 2017-02-10: A word about Nodes

There is a discussion about nodes that came up today, where it seems I'm discouraging people from running the full QT/Core client. Yes and No. What I'm trying to make sure people understand is how things work, and that it is NOT mandatory to run a client in order to use Dogecoins (and yes, I realise that browser-based tools like coinb.in and wallet sweepers are 'clients' by strict definition).
That said, more nodes is absolutely a good thing for the network. Preferrably full nodes. How do you run a full node? Just run Core/QT and open up Port 22556 on your router so it can connect to more than 8 peers. What will it cost you? You need your machine to be on 24/7/365, you need enough storage for the full blockchain (currently about 20Gb. Bitcoin is over 120Gb) and enough bandwidth to keep it in sync and share blocks with peers. A couple of Gb a month, most likely. This is best done with a desktop on a wired broadband link. Or maybe a hosted VM in the cloud. :)

EDIT 2017-01-09: Wallets WITHOUT Clients

Since I started helping people on /BitcoinBeginners, I'm getting a lot of questions about how to use wallets without running clients or trusting third parties. So here are a couple of resources that will make that possible, and not just for Dogecoin:
Multi-Coin Wallet Generator Now supporting 129 currencies! Coinb.in Start by setting the currency, found in the gear wheel in the Broadcast tab. Dogecoin Wallet Sweeper Redeem 'paper' wallets containing up to about 100 UTXOs. Bitinfo Charts My favourite block explorer, handles a bunch of cryptos.
Using these resources, it is possible to hold, receive and spend coins in various currencies, without having to run QT or a 'lite' client. You can also download and run the pages on your own device.

EDIT 2016-11-23: SEMANTICS about MINING! :P

Even though there is already a section on mining below, it has been suggested given the huge number of posts on the subject that this needs to be made clearer. Since people get their panties in a twist over the word 'dead', lets change that...

MINING IS DEAD!

MINING DOGECOIN IS UNPROFITABLE!

Put simply, there is no way to mine Dogecoin and make a profit because of the massive hashpower provided by industrial-scale Litecoin miners. Mining Doge directly stopped being viable when our hashrate exploded with the introduction of AuxPoW. Mining with CPU's and GPU's died when ASICs were introduced. And mining with a laptop WILL kill your laptop and cost you a fortune to repair or replace. Mining Litecoin with an exchange that also mines Doge and others will earn less than the electricity consumed, and you won't recover your costs. Probably ever, but certainly not in any reasonable time.
Mining other currencies may be a thing, but that's beyond our scope here. This is /Dogecoin, not /GetRichMiningCryptos after all. If you want to mine the newest scamcoin for fun and profit, look elsewhere for advice. :/
Oh, and most important:

READ BEFORE YOU POST!

At any given time, there are half a dozen posts on the frontpage just like the one you're about to write, where the answers have already been given. Read them. Don't make people waste their time repeating themselves because you were too lazy to bother reading stuff. :P
So there I was, having a quiet Sundy arvo bludge, as you do, when 42points turned up on Facebook and asked me to write a new sticky post for /dogecoin. Why would he do this, when he should be having a bludge himself, I hear you ask? Well, seems he was doing exactly that, and wanted to fob off the work he’s too slack to do himself. ;) Ah well, being a sucker for punishment, I’ll grudgingly oblige I guess.
OK, first things first.

The Clients:

Dogecoin Core 1.10.0 2015-Nov-01
Bootstrap file for Core to save some download time.
Dogecoin Core Guide Wiki
MultiDoge v0.1.7 2016-Jan-31
Android Dogecoin Wallet 2.0.8 2016-Jan-18
Android Coinomi Wallet
Java Cate 0.14 alpha 2 Multicoin wallet 2016-Feb-14
Exodus multicoin wallet
iOS Doughwallet

Do you REALLY need a client?

Wallet ELI5
UTXO ELI5
Paper Wallet Generator
Sample HTML Wallet List
Dogetipbot subreddit and website
Dogechain Wallet
Block.io Wallet
Exchanges
BTC38
Poloniex
CoinSpot
ShapeShift - Not really an exchange, rather a currency trader.

Mining

Litecoinpool
Prohashing
Zpool

Explorers

BitInfoCharts - My favourite, has charts!
chain.so
dogechain.info
/dogecoindev where the devs hang out

More Info

Dogeducation
Technical Wiki
Preev currency value calculator

EDITS:

From peoplma
I was wondering if you could add just a couple things. A link to the coinomi android wallet, it's probably the best one out there. And a sentence somewhere along the lines of "if you need help with any dogecoin software you are welcome to make a post, but PLEASE include your OS, version number of the client, and any relevant transaction IDs that you are willing to share" if you can fit that in somewhere.
Also, if you want to link to Prohashing, I'm pretty sure it's the only Scrypt mining pool that will actually pay out in doge. The others I know of pay out in litecoin or bitcoin. And it's a profit switching multipool, so gives a better return than just mining ltc/doge.
And there's these two wiki articles I thought would be helpful to link /dogecoin/wiki/technical for those technically minded newbies or intermediate users who want to dig a little deeper. And maybe a link to /dogecoin/wiki/dogecoincoreguide next to the link for dogecoin core.
From pts2002
Finally a proper sticky post! Here's some other stuff you could add:
zpool.ca mining pool - You can get paid in pretty much any coin, and you can mine in multiple algos (currently mining lyra2v2 with my GPU). Doing about 500Ð/day
shapeshift.io exchange - My favourite exchange, quick and easy. No registration required!
Also, you should add some blockchain explorers!
chain.so - Support for bitcoin, litecoin and doge.
dogechain.info - Official blockchain explorer. Includes a wallet (already mentioned). Live update currently not working (?)
EDIT: Here's another thing I found!
preev.com currency value calculator - Easy way to check the value of your dogecoins (or bitcoins, or litecoins, or peercoins)!
submitted by Fulvio55 to dogecoin [link] [comments]

Script n multipools?

Can everyone List known script n multipools or coin switching pools. Trade my bit is the only one I know of.
submitted by arbolesdefantasia to multimining [link] [comments]

Totally new to mining, I have many questions

Hi I have an i5-4690 and an R9-290, and free electricity. 1) Do you think I should start mining ? 2) Bitcoin or Litecoin ? What's the real difference anyway ? 3) How much would my computer generate in 24h mining ? I have used different calculators and they show very different results each (from 14$ to 800$ revenue a year !) so what do you think ? What are the revenues both solo and with pool mining ? 4) Is it possible to buy steam games with bitcoin or litecoin ? Are the sites offering this kind of transaction reliable ? Thanks, and sorry if I posted this in the wrong place...
submitted by hccompany to CryptoCurrency [link] [comments]

1.6 concerns / possible exploit

Yesterday I voiced some concerns about the changes in 1.6 on github but I didn't get much of a response. Perhaps interpreted as a case of "old man yells at cloud". Anyway I figured I'd post here just so everyone understands what these changes mean.
I actually didn't get a chance to look too closely yesterday so my figures were off on in my github post, but after spending more time looking it over this morning I'm actually more concerned.
First, as any of you familiar with mining know, sometimes you get a share quickly and sometimes it takes longer. And sometimes your pool might report your hash rate much higher or lower than it actually is. This is because it's not possible to determine your hash rate or the hash rate of the network with 100% certainty. We're just making a guess based on probability. This is why bitcoin looks at the time it takes to generate 2,016 blocks before adjusting the difficulty. Lots of samples lets it make a much more accurate guess about the network's hash rate. Litecoin looks at the last 504 and Dogecoin looks at the last 240. Until Monday. On Monday Dogecoin will attempt to determine the hash rate of the network by looking at the time it takes to generate a single block. The difficulty may be set perfectly for the network's true hash rate but if someone gets lucky and find a block too quickly the difficulty will jump. While these changes should certainly adjust the difficulty quickly when a multipool hops on, it's also very likely that we'll see plenty of false positives that increase the difficulty erroneously.
The next bit is a little more worrisome. It appears that it's possible for malicious users to artificially deflate the difficultly allowing blocks to be mined more quickly. And, if I'm looking at this right, shouldn't require any change to the code to pull off. I'll not get into the details here but I'm sure it won't take long for the people that were pre-calculating block rewards to figure out. So how much could they affect the difficulty? That depends on how much of the network they control. If they control just a small amount of hashing power they can lower the difficulty 33% as soon as they generate a block but won't be able to keep it low too long. A group controlling about 10% of the network could lower it such that blocks would be created about 17% faster than expected for as long as they wanted. Control 25% and you can lower the difficulty so blocks are created every 30 seconds or so. What about 50%? Well assuming that the difficulty starts at 1000 and a group gains control of 50% of the hashing power after about 35 blocks the difficulty could be under 100. It would drop below 10 in about 70 blocks. In two hours the difficulty could be less than 1 and blocks would be generated about twice a second. Even with 40% of the network it would take about 60 blocks to reduce the difficulty by a factor of 10.
I've been over the code a few times, but hopefully I've got this all wrong and someone will correct me. If not it probably won't be long before we know for certain. Oh one other thing, my numbers assume uniform distribution of blocks based on control of the network. In reality it could take more or less time to move the difficulty based on luck.
Edit: I would really really like to post the exact steps to produce the exploit (I'm terrible at secrets... obviously) but, while I'm 99.9% sure we can get an update out before block 145,000 rolls around on Monday, I'd rather keep that info close to the vest until a fix is in place or someone can tell me why I'm wrong. I've emailed the two people associated with the dev team that I have email addresses for and they can relay it to the rest. Honestly I wouldn't mind at all in this case be proven wrong.
submitted by somegeekintn to dogecoin [link] [comments]

Start Here for Much Wallet WOW!

Copied from /dogecoin

https://www.reddit.com/dogecoin/comments/4yts6h/start_here_for_much_wallet_wow/
So there I was, having a quiet Sundy arvo bludge, as you do, when 42points turned up on Facebook and asked me to write a new sticky post for /dogecoin. Why would he do this, when he should be having a bludge himself, I hear you ask? Well, seems he was doing exactly that, and wanted to fob off the work he’s too slack to do himself. ;) Ah well, being a sucker for punishment, I’ll grudgingly oblige I guess.
OK, first things first.

The Clients:

Dogecoin Core 1.10.0 2015-Nov-01
Bootstrap file for Core to save some download time.
Dogecoin Core Guide Wiki
MultiDoge v0.1.7 2016-Jan-31
Android Dogecoin Wallet 2.0.8 2016-Jan-18
Android Coinomi Wallet
Java Cate 0.14 alpha 2 Multicoin wallet 2016-Feb-14
iOS Doughwallet

Do you REALLY need a client?

Wallet ELI5
UTXO ELI5
Paper Wallet Generator
Sample HTML Wallet List
Dogetipbot subreddit and website
Dogechain Wallet
Block.io Wallet
Exchanges
BTC38
Poloniex
CoinSpot
ShapeShift - Not really an exchange, rather a currency trader.

Mining

Litecoinpool
Prohashing
Zpool

Explorers

BitInfoCharts - My favourite, has charts!
chain.so
dogechain.info
/dogecoindev where the devs hang out

More Info

Dogeducation
Technical Wiki
Preev currency value calculator

EDITS:

From peoplma
I was wondering if you could add just a couple things. A link to the coinomi android wallet, it's probably the best one out there. And a sentence somewhere along the lines of "if you need help with any dogecoin software you are welcome to make a post, but PLEASE include your OS, version number of the client, and any relevant transaction IDs that you are willing to share" if you can fit that in somewhere.
Also, if you want to link to Prohashing, I'm pretty sure it's the only Scrypt mining pool that will actually pay out in doge. The others I know of pay out in litecoin or bitcoin. And it's a profit switching multipool, so gives a better return than just mining ltc/doge.
And there's these two wiki articles I thought would be helpful to link /dogecoin/wiki/technical for those technically minded newbies or intermediate users who want to dig a little deeper. And maybe a link to /dogecoin/wiki/dogecoincoreguide next to the link for dogecoin core.
From pts2002
Finally a proper sticky post! Here's some other stuff you could add:
zpool.ca mining pool - You can get paid in pretty much any coin, and you can mine in multiple algos (currently mining lyra2v2 with my GPU). Doing about 500Ð/day
shapeshift.io exchange - My favourite exchange, quick and easy. No registration required!
Also, you should add some blockchain explorers!
chain.so - Support for bitcoin, litecoin and doge.
dogechain.info - Official blockchain explorer. Includes a wallet (already mentioned). Live update currently not working (?)
EDIT: Here's another thing I found!
preev.com currency value calculator - Easy way to check the value of your dogecoins (or bitcoins, or litecoins, or peercoins)!
submitted by Fulvio55 to dogeducation [link] [comments]

[Shibenomics 101] Market Cap? GDP? PPP? Moon???

So there's been an unbelievable multitude of threads ranging from "Shibes, is Ð1 = $1 possible?" to "Shibes, Ð1 can never be $1, stop dreaming."
first of all, never tell a shibe not to dream.
second of all, much much more than the ratio of dogecoins to bitcoins to dollars determines the exchange rate of a currency, and that is the subject of today's shibenomics lesson.
Everyshibe has probably heard of GDP, but to define it very quickly - the gross domestic product is the value of all goods and services produced in an economy over a period of time. Normally, GDP is calculated per year, but for the analysis in this article and dogecoin in general, i find it more constructive to think of GDP per day.
Now, how can we possibly find out what the GDP of dogecoin is? The USD has a whole bureau of economic analysis to do that and they still get it wrong half the time...
Herein lies one of the many beauties of the blockchain. The block chain is like a public ledger of every transaction in dogecoin, EVER - which means we can just find the last block with a transaction on Wednesday, January 15th, and the last block with a transaction on Thursday, January 16th, and every transaction in between is part of the GDP for Jan 16th.
note: shibes already versed in economics will point out that some of these transactions may not be for goods and services, but rather conversions from USD or BTC, and some of them may be double counted because they are buying an ingredient for something they plan to sell later for more dogecoins - these objections are somewhat correct, but systematically overestimating GDP means you can still measure GDP change over time, which is what we're really concerned about, and conversions from other currencies are our equivalent of exports
So, as of now, our GDP on January 16th was a whopping 46,793,497,531 DOGE ($18,078,761 USD). Before you object about pay-it-forward threads and tipping and such, let me remind you - tips are a micro-transaction for a service (the service of making you smile :) ) and pay-it-forward threads are the shibe version of state-sanctioned lottery - which is the service of gambling. Now, gambling and entertainment an economy do not make, but 18 million dollars is a pretty big deal. Only bitcoin, litecoin, and quarkcoin have higher GDPs per day than dogecoin, and among those only dogecoin has a reasonably sustainable average transaction value (~$200 vs >$8000).
Ok, so now we know dogecoin has a GDP, and that shibes can feel pretty good about it. Even more impressive, dogecoin GDP has grown from $6.74 million on December 18th to $18 million today - 3.22% per day - at current growth rates, our GDP this time next year would be $1.78 TRILLION (11% of the US economy). Now this is probably unsustainable, but even growing at 20% of our current growth rate for a year would leave us only behind bitcoin in GDP per day.
Now let's consider market cap - the first thing that is striking about dogecoin isn't that its 6th most valuable in terms of market cap - its that dogecoin is the only crypto who's GDP exceeds its market cap, and that too by a whopping 62%. This means that for every 1 dogecoin you spent today, 61.7% of that dogecoin was passed on, and then passed on again, and so on. The velocity of money in the doge economy is ludicrous, and it confers a high degree of stability unto our economy, so kudos all around! A fast velocity of money not only helps fight changes in prices, it also makes it possible to post very high GDP numbers without having a large monetary base.
Apart from this, its also worthwhile to note that our market cap in USD has grown by around 3.6% per day, while the number of dogecoins added to circulation grows by around 2% per day - so despite all the mining, dogecoin has been appreciating in value quite rapidly in value.
On a more theoretical note, it is worth spending a moment to consider PPP (purchasing power parity). In high school economics, PPP means that a big mac in the United States should cost the same amount of real value as a big mac in China, and that the exchange rates will move to reflect that reality. In reality, PPP is more of a goal than a law - it's pretty hard to buy a big mac in China and bring it to the United States so that you get your food cheaper at lunch. In cryptoworld, however, PPP is the law - a bitcoin must cost the same amount in litecoins, dollars, and dogecoins, and the exchange rates will change to reflect that. PPP has so far been strongly determined by the BTC, LTC, DOGE triangle, as there is still not a large volume USD/DOGE exchange to allow arbitrage between the USD/BTC/DOGE (arbitrage is the force that makes PPP a law). Thankfully, a DOGE/USD exchange is probably just around the corner, and so soon we should see DOGE/USD and DOGE/BTC stabilize a bit because of this.
PPP also extends to the world of mining - a kh/s mined on one currency will try to be worth as much as a kh/s mined on another currency - the best example of this is multipool. Right now, it is highly profitable to mine dogecoins because of the strong economy & exchange rate and the low block difficulty, compared to other alt coins relatively weak exchange rates and higher difficulties. Each coin has a predetermined global hash rate it will support based on its coin reward and target block time, and uses the difficulty to keep the reward & timing schedule intact.
What this means is that as more miners work on dogecoin, it becomes less profitable to mine doge unless its value relative to the other cryptos goes up - and this is the cause for the cycles of highs and lows we see in DOGE/BTC. These cycles will probably not stop after the February 14th block halving, but they will be occuring at higher and higher valuations.
It's a point of shibe pride to mention that of all the cryptos, dogecoin probably has the least wealth concentration - the top 100 transactions in dogecoin are only 3.15% of the daily transaction value, whereas for other currencies that number can reach near 50%.
In conclusion, it'll probably be disappointing to hear that I have no clue where DOGE/USD or DOGE/BTC will be in a week, much less when it will hit 1 dogecoin per 1 USD. What I can say, and what should be evident from the numbers, is that dogecoin is developing a strong economic foundation unlike any of the other altcoins, and is much less seedy than bitcoin's early economy. Some of the core difficulties of dogecoin going forward are going to be maintaining our ludicrous velocity of money, which means finding and developing new markets for tipping, diversifying our economy away from mainly tipping while keeping a focus on micro-transactions, and creating a more effective store of value besides hoarding coins in a wallet or giving them away in PIF threads and waiting for them to come back.
TL;DR - TO THE MOON!
statistics used in this article are available on: http://bitinfocharts.com/
submitted by kwickymartkidd to dogecoin [link] [comments]

A PSA TO ALL BITCOIN MINERS: READ IF YOU WOULD LIKE TO KEEP SMALL SCALE BITCOIN MINING ALIVE AND PROFITABLE!

If you want to keep mining alive for the small time/at home miner (as it should be) beware of Antpool and ViaBTC (among others.)
There is mass mining manipulation afoot. Since the recent shakeup- the bitcoin cash fork, the uncertainty of segwit adoption, the looming bitcoin core fork and the closed door New York Agreement- we have seen some of the sharpest difficulty increases in the history of the coin, mass shifts in hash rate between coins, and the most rapidly dwindling profitability ever recorded. Be certain, this is all shear manipulation, meant to maximize profits for the major pools and players, off of small time miners investment in hardware while at the same time making way for the next generation of BTC mining, which if the powers that be get their way, will not include any small time miners.
-Who are these "powers that be?": It is difficult to say. A number of powers, likely a majority of those who signed the New York Agreement. Among those most egregiously manipulating the mining landscape are Bitmain (Antpool) and ViaBTC. All of those behind bitcoin cash likely play a part, as well as most certainly BitFury. Bitmain and ViaBTC are most important here, because those are two we can take action against NOW!
-How is this manipulation occurring?: There are multiple techniques likely at play which I have identified. The most obvious is the manipulation of hash-power between the 2 currently active forks (Bitcoin and Bitcoin Cash.) ViaBTC's "auto-switching" feature- which is supposed to switch a miner between mining BTC and BCH, depending on which is more profitable, is being greatly abused. I have noticed trends which suggest Antpool is using miner's hash power to conduct similar manipulation, whithout their knowledge- although other than suspicious trends (such as the frequency of blocks mined by antpool prior to difficulty readjustments, and prior to short "lags" in the BTC network as well as the number of small blocks mined by Antpool) I lack solid evidence. However I can be certain that they are using their own hash power in the manipulation, BitFury is as well. I also suspect Nicehash's hash-power is being misappropriated (although I do not believe this is NiceHash's own doing, rather other major holders in BTC buying the majority of Nicehash's power at strategic times.)
-How does the manipulation work?: It all has to do with the way BTC calculates mining difficulty. For full understanding, you may refer to the Bitcoin Wiki's section on difficulty readjustment. In short, bitcoin recalculates its difficulty by looking back a fixed number of blocks and comparing that with mining power in an attempt to keep the block time at the target rate. By strategically increasing hash-power at specific times, they are able to cause spikes in the mining difficulty, freezing of the chain, etc. There is also price manipulation made via buy-ups and dumps of coins at opportune times on exchanges of varying sizes, as well as "rogue" block creation and mempool "clogging" via mass transaction creations by sending floods of pay-to-self or low-fee, non-confirming transactions in one swoop. Transactions they send but will not mine themselves!
-Why are they doing this?: I think each may have their own intentions at bey. Bitmain certainly has something to gain by pushing their altcoin mining hardware, but I believe the consensual reason behind these attacks on small time mining is to inevitably take the power of the bitcoin network from the user and small-time miner and to selfishly horde the remaining coins to be minted for themselves. With a full mining consensus they would have the power to fully manipulate the network, fork it as they saw fit, etc. There is also the ability to "play both chains" of bitcoin and bitcoin cash to maximize profitability for themselves based on their current holdings and parallel market and mining manipulation to amass vast profit.
SO WHAT CAN YOU DO?: -STOP mining on ANTPOOL and ViaBTC (KANO.is is a great alternative, the creator has always been open and the fees are low, and it pays out the full block reward plus transaction fee bonus which adds up to much more over those that may charge a slightly lower fee but not pay out the transaction reward.)
-DO NOT mine SHA256 on NiceHash for now (ZPool is a good alternative for those looking for a multipool, it always mines the most profitable coin, but does not sell hash power like NiceHash so it is not subject to corruption.)
-AVOID mining Bitcoin Cash- It was a scamcoin from the get-go! It is like a plague infecting the bitcoin mining landscape, avoid it at all costs.
-EDUCATE yourself. Fully understand the concepts of bitcoin mining. Keep current with recent headlines. Always do your research before choosing a pool.
-SPREAD THE WORD.
If you do not act now, it won't be long before even an S9 is not profitable at all. There is a reason Bitmain has not released an S10- it's not that they have not been manufacturing more efficient miners, they have just been hording them all for themselves.
tl;dr Bitmain and ViaBTC are evil, bitcoin cash is a plague, and NiceHash is not helping- AVOID THEM ALL!
submitted by Mypassispass123 to BitcoinMining [link] [comments]

Ushering in the Exahash Era with the SHA-256 Cryptocurrency Mining Algorithm

Colleagues, the Exahash era of SHA-256 mining is rapidly moving into the mainstream … and much sooner than expected. Exascale computing is defined as a system that can process more than one exaflop per second — which is equal to a billion billion calculations per second. The BTC network surpassed 1 exaflop in May 0f 2013, which at the time was up to eight times faster than the combined speed of the top 500 supercomputers in the world. Enter 2018. The BTC hashrate is over 30-35 exahash per second or over 30 billion gigahashes per second, and the BCH network is 3-5 exahash per second or over 5 billion gigahashes per second. Nakamoto consensus is a name for Bitcoin’s decentralized, pseudonymous consensus protocol and is considered as Bitcoin’s core development and innovation. So when will we see the 500 exahash zetahash era? Share a comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)
https://preview.redd.it/7v89a9qnlu011.jpg?width=297&format=pjpg&auto=webp&s=545dfbe389be1d83ef442efb5e0114e4ddea5cac
submitted by internetdigitalentre to ethereum [link] [comments]

RUPEE MINING IN DETAIL!

Rupee Mining

Rupee is based on scrypt mining algorithm. Rupee can be mined like any other scrypt based coin (litecoin, and others). The third-party pool which Rupee team promotes is
https://rup.miningfield.com/

Rupee can be mined with GPU, ASICS, but for new people GPU has much less mining power compared to ASIC. Each unit has a hashing power which means how much calculations can it perform in one second to mine the next block. GPUs have 20 times less mining power compared to ASIC. The price of ASICs are close to 3000 USD if bought from Amazon or Ebay. GPU cost close to 400 USD.
Mining is difficult for new people, and with less hashing power


Role of Multipools
Multipools are mining pools where people can combine mining power, and this way they have a better chance of mining the next block. But, multipools are a trouble for new and small coins. As new coins don’t have much dedicated power, so multipools basically mine all blocks, and leave as the difficulty goes up. The dedicated miners mine the next block, as soon as the difficulty comes down, multipools comes back. The fact that multipools have huge hashing power compared to dedicated miners ( especially in new coins ), Multipools mine all next blocks, and sell those in market, and as difficulty goes up leaves. As multipools leaves the next block takes some time to mine ( typical 4 to 5 hours ), in some cases we have seen 9 hours .
The same issue is true with every other coin. Bitcoin Cash, and Bitcoin Gold also experience the same issue

Rupee difficulty retarget was changed to dark gravity wave algorithm in November to overcome this issue, and adjust the difficulty every other block. More information about dark gravity wave algorithm is given in the end.


At the moment there are two multipools mining us ( https://www.mining-dutch.nl/ and http://zpool.ca/ ) . These pools come and go. Once they come, they mine effectively all blocks, as the difficulty goes up these pools leave, leaving the dedicated miners to solve the next block.

How to mitigate Multipools
Rupee team has decided to keep mining decentralized, the only way to do it is always to have a memory intensive mining algorithm. Equihash, and Lyra2Rev2 are the two memory intensive algorithms. Rupee code will be updated in future to Equihash to protect us against multipools, and allow normal people to mine Rupee with readily available mining equipment (GPUs ).
Blocks not coming for few hours/Slow transactions
This is due to Multipools coming and leaving, which causes the slow blocks. We are using the best difficulty readjustment algorithm ( Dark Gravity Wave algorithm ), to decrease the mining difficulty after every other block. This is totally normal for all new coins. Even Bitcoin Cash experienced the same issue. We will be changing mining Algorithm to Equihash to overcome multipools, and make mining decentralized again.
If your transaction is stuck, don’t be alarmed or panic. It will go through when the next blocks are mined.
Expected time line of code change
Team is working on a private test net to test the code changes, but at the moment, Rupee is coming on few new exchanges, and if we implemented the code it might cause some issue. So, we are checking when to have the code changes done. We will announce it after consulation with exchanges, and mining pools.


*Dark Gravity Wave Algorithm
https://www.cryptocompare.com/coins/guides/what-is-a-kimoto-gravity-well-dark-gravity-wave-or-digishield/

submitted by akidevcrypto to RupeeBlockchain [link] [comments]

Please Listen: A 10 Minute Difficulty Time Could Kill Doge

Please hear me out, this would lead to making a time warp attack so easy to execute. It seems to be considered that Doge will switch to a 10 minute retarget with static block rewards. Not only will this not fix the multipool problem(they will still mine and dump, and the difficulty will fluctuate a ton), but it could lead to some immense explotation.
Basically, in a time warp attack, someone attempts to mine the final block before the difficulty is retargeted, and gives it a timestamp of 1-2 hours into the future. Blocks will be accepted as long as the timestamp is within 2 hours or so of everyone else. This is to compensate for variances in system time. So let's say the difficulty is recalculated every 10 minutes. Let's say I mine the 10'th block 5 minutes in since the last retarget. Technically, this should mean that the difficulty should double(should have taken 10 minutes). However, if I make the timestamp 55 minutes into the future, the difficulty would actually go down to 1/6th of what it was because it would appear that it took 1 hour to calculate 10 blocks. This is extremely problematic because the time frame for difficulty recalcuation is actually lower than the allowed variance in system time. If I gained enough hashing power, I could theoretically make the difficulty infinitely low so that I could mine a ridiculously high amount of coins. If I time warped attacked Bitcoin, there would be little value in doing so since the difficulty would only go down a little, and I never could really bring it very low. But by time warp attacking Doge with a 10 block retarget, I could make the difficulty infinitely low.
Please consider this when making the decision. A multipool could exploit this, and lead to the halvenings occuring several months early, and way too many coins being generated.
submitted by skilliard4 to dogecoin [link] [comments]

Have you guys heard of the blackcoin mining pool?

http://blackcoinpool.com/faq
The idea works the same as any other multipool (with otheextra calculations whilst considering which coin to mine) and is currently more profitable than wafflepool etc
The main difference is that the coins generated from mining whichever profitable altcoin are sold for BTC then Blackcoins (BC) are bought with the proceeds. Blackcoin cant be mined anymore as its now a 'Proof of Stake' coin
But 'I only want BTC!' I hear you cry! Well what makes this concept incredibly interesting is that because BC is a PoS coin; ALL coins are already in existence...so inflation is incredibly low (max 1%)....so in effect ALL buying pushes the price UP!
Compare this with PoW coins such as BTC, LTC, DOGE etc where the inflation rates are incredibly high due to all the newly mined coins coming into existence (usually insta sold to finance mining gear). This means for the price of BTC to stay flat, a huge amount of 'new money' is required to enter the market approx $1600000 per day for bitcoin.
Any new money going into BC chases the limited supply of coins adding upward pressure to the price...not only that but it has the added benefit of sucking value from other alts by mining and dumping them...a blackcoin 'blackhole'?!:)
So I admit this proposal is more for the speculators and investors out there compared to professional miners who have their eyes firmly fixed on financing the next piece of hardware (eg by dumping). Its best for those who are looking to mine and hold onto the proceeds with the intention of them gaining in value. Theres nothing stopping you or indeed others dumping the BC mined but it seems crazy that anyone would do this...you'd surely just use a multipool that pays out in BTC! Indeed everyone I know involved with BCmultipool are holding all proceeds as we all anticipate this coin going a possible x10 from here (current market cap ~$3m) within the next few months.
The pool has now left beta stage and so as part of promo is also doing a giveaway of bonus BC to random miners...also now mining gear is up for grabs too
Its open to scrypt and SHA256 miners and hash rates are increasing...BC value is also consistently making and holding great gains.
Anyway, this is more intended to be about the novel multipool idea than the coin which you can all research or ask about. Heres a great interview devs http://btcjebus.wordpress.com/2014/03/22/blackcoinpool-com-interview/
submitted by AbuZak to BitcoinMining [link] [comments]

MAD Doge - Such Problems, Much Solutions, Year of DOGE. (March 30th, 2014)

MAD Doge – 3/30/2014 The epic battle in price PANIC! PANIC? Well yes, panic if you want, it’s apocalypse time.

What’s wrong?

What am I doing? How am I invested in a solution? (WOW SUCH LONG READ)

What's going to happen?

It's going to be a rough ride, but there are upsides, Cryptsy has started on USD/DOGE exchanges.
submitted by DRKMSTR to MADDOGE [link] [comments]

A letter from the Myriad team to the community by a dedicated miner.

What is the myriad project ?
It is a crypto currency like bitcoin but that's about all it has in common with bitcoin. I dare to say myriad's concept is better than bitcoin's, or any other coin for that matter, it's a big step in the future of the phenomenon known as crypto currency. These are not just words and marketing, Myriad proves its superiority every passing day. Allow me to explain how and why: Myriad is the first coin to implement the concept of multi-hashing, meaning, myriad does not run on a single algorythm or a chunk of algorythms chained together, it runs on 5 parallel algorythms. They are: sha256d, scrypt, skein, groestl and qubit.
What does this mean ?
It means that each algorythm works independently from the others to secure the network while using the same blockchain. It also means that each algorythm can be mined individually providing ALL miners a fair chance of generating coins. Myriad welcomes everyone, asic users, gpu users and cpu users. This not only makes the network more secure, it also ensures a fair and wide distribution of the generated coins avoiding one of the other big problems bitcoin is facing: most coins being generated by industrial mining farms controlled by rich investors. Another proven fact is that the concept of multi-hashing also provides much better protection against 51% attacks because while an attacker could gain 51% of one single algorythm it's highly improbable that he could gain 51% of the hashing power for all algorythms so if any one algorythm suffers a fork the other for will be working with the remaining 49% of the attacked algorythm to keep the network secure and your transactions safe (this has recently been proven when cryptopool.eu owning over 51% of the scrypt hashing power forked and the networks reaction was PERFECT) . This is also the best security against multipools attack because they can only target one algorythm they can only aquire 20% of the total coins since the coins are split up equally between algorythms and each algorythm gets TOTAL COINS / 5 .
Other advantages the Myriad project has to offer include, but are not limited to:
The list of features the Myriad project has to offer is too large to include in one email while avoiding making it a long and boring email but it is becoming increasingly clear that Myriad is a big step twards the future and the possibilities are amazing when thinking about new ways and services that Myriad can bring to the crypto world.
As I've already described it in the thread (excuse the plastic representation):
Myriad is a rose in a sea of rotting carcases , a fresh water lake in the middle of the sahara. It's being held back because it is hard to notice it when 20 hyped premined scam ipo coins emerge daily, but users who do notice it tend to stick around because as it happened to vertcoin people will eventually learn about myriad and see that it trully is the concept to unite the whole mining comunity under one coin, a huge step forward for the crypto currency world.
In conclusion, no matter who you are and what hardware you have you are welcome to mine Myriad and I assure you it will be profitable no matter what technical inovations come to the market. Investors and crypto currency enthusiasts MYR offers more security and decentralization than any other coin in existence, even bitcoin, making it a very promising investment and considering the price and trading volume getting involved in Myriad right now is as good as getting involved from the begining. The community is blossoming day by day and we are all guided by the same principles, progress and fairness to each and every individual.
Thank you for reading,
A crypto currency miner who supports progress.
PS:
List of TODOS and projects that are in development or are being considered for MYR:
-implementing an RPC command that returns network hashrate per algorythm
-algorythm switching mining software for a algo-profit-switching pool
-algo-profit-switching pool
-andoid wallet
-implementation of a 100% proven CPU algorythm (right now qubit and groestl are CPU friendly but not CPU dedicated so while CPU miners can still mine competing with GPUS on fair grounds they still do not have an exclusive algorythm)
-adding a metalayer to Myriad (similar to xcp)
and the list is evergrowing.
submitted by bordb to myriadcoin [link] [comments]

Why you should mine on Coinshift

The Problem
A typical profit-switching mining pool diverts all of its hashing power to whichever coin is most profitable at the moment. When that profitability calculation changes, even if another coin is only slightly more profitable, the pool will abruptly switch its hashing power to the next coin.
This is bad for the alt coin community for a few reasons. It causes huge spikes in the network hash rate for the top coins, causing waves of blocks being generated too quickly with few meaningful transactions in each. The large sums of coins getting dumped onto the exchanges all at once causes huge drops and overall volatility in the coin price. Finally, once the dump occurs and the pool has moved on to pillage a new coin, the previous coin is left stranded with an artificially high difficulty and slower than average block time, which delays transactions until enough blocks generated to readjust the difficulty.
The problem is one of misaligned incentives -- the incentive to mine on destructive profit-switching pools is too great. Coinshift's mission is simple: find a more sustainable way to mine altcoins profitably.
The Solution
Coinshift’s algorithm ranks all the alt coins who are more profitable to mine than Litecoin, and distributes its hash rate across them with a strong bias towards the more profitable coins. As the coins profitability changes, the algorithm shifts some of its hashrate over to the more profitable coins.
This is great for the ecosystem because it helps miners follow changes in profitability without causing them. At the beginning, our allocations will look spiky like switching pools. Over time and as more miners choose Coinshift, our hash allocations will settle closer to equilibrium and help to smooth out hashrate spikes.
Basic Pool Info
TL;DR Coinshift is a new kind of scrypt multipool that isn't so damaging to the ecosystem. Come mine with us!
submitted by coinshift to scryptmining [link] [comments]

Blackcoin and its blackhole (multipool)

The idea works the same as any other multipool (with otheextra calculations whilst considering which coin to mine) and is currently more profitable than wafflepool etc
The main difference is that the coins generated from mining whichever profitable altcoin are sold for BTC then Blackcoins (BC) are bought with the proceeds. Blackcoin cant be mined anymore as its now a 'Proof of Stake' coin
But 'I only want BTC!' I hear you cry! Well what makes this concept incredibly interesting is that because BC is a PoS coin; ALL coins are already in existence...so inflation is incredibly low (max 1%)....so in effect ALL buying pushes the price UP!
Compare this with PoW coins such as BTC, LTC, DOGE etc where the inflation rates are incredibly high due to all the newly mined coins coming into existence (usually insta sold to finance mining gear). This means for the price of BTC to stay flat, a huge amount of 'new money' is required to enter the market approx $1600000 per day for bitcoin.
Any new money going into BC chases the limited supply of coins adding upward pressure to the price...not only that but it has the added benefit of sucking value from other alts by mining and dumping them...a blackcoin 'blackhole'?!:)
So I admit this proposal is more for the speculators and investors out there compared to professional miners who have their eyes firmly fixed on financing the next piece of hardware (eg by dumping). Its best for those who are looking to mine and hold onto the proceeds with the intention of them gaining in value. Theres nothing stopping you or indeed others dumping the BC mined but it seems crazy that anyone would do this...you'd surely just use a multipool that pays out in BTC! Indeed everyone I know involved with BCmultipool are holding all proceeds as we all anticipate this coin going a possible x10 from here (current market cap ~$3m) within the next few months.
The pool has now left beta stage and so as part of promo is also doing a giveaway of bonus BC to random miners...also now mining gear is up for grabs too
Its open to scrypt and SHA256 miners and hash rates are increasing...BC value is also consistently making and holding great gains.
Anyway, this is more intended to be about the novel multipool idea than the coin which you can all research or ask about. Heres a great interview devs http://btcjebus.wordpress.com/2014/03/22/blackcoinpool-com-interview/
submitted by AbuZak to altcoin [link] [comments]

A dogeconomics proposition - on the effect of currency-switching miners and on when we will get to the moon!

I will try to figure out a way to explain the relative value of dogecoin and bitcoin.
If you are looking for TL;DR, see equation #7.
It just occurred to me... a function of crypto-currency-switching pools is to normalize all currencies (over the long term) with each other with respect to mining profitability (hash per payout)... because calculating people will maximize their gains (in so doing, minimize others').
Currencies which pay too much per hash will get pools like multipool to flood its hash market with computational power. Since these pools, having no royalty to the currencies that they mine, are prone to cash out, they increase the supply of these currencies (selling out their mined coins) until another more worthwhile target arises.
I would argue that, therefore, any altcoin currencies' worth will therefore be limited to that of bitcoin. I use bitcoin as a measurement, because it has the largest market cap and is the most well-known. Arguably, all opportunistic miners will default to bitcoin if there are no other profitable crypto-currencies around, because people can most easily liquidate bitcoins.
So, let's look at btc and doge.
Obviously, both currencies have new coins created, programmed by the developers. They are set to a certain number of mined-btc or mined-doge per block. Since it's an average # of block per time, it's just mined-btc / time. Miners are converting their hash into mined-btc or mined-doge. (for a generic coin, crypto):
1. reward-rate = crypto / (hash) = new-crypto-per-block / (hash / block)
Also, let exchange rate be:
2. exchange-rate = USD / crypto
People need to pay bills (electricity, for the graphics card), so they want to maximize Pool switchers maximizes [ USD / time]. They have [hash / time]. (Hashing takes time and electricity, but we won't explicitly consider those here).
Therefore, Pool switchers maximizes [ USD / (hash) ].
3. USD / hash = USD x (CRYPTO / CRYPTO) / hash = (USD / CRYPTO) x (CRYPTO / hash) = exchange-rate x reward-rate (This should be intuitive).
Then, let us call "hash-committed-to-mining-bitcoin" as hash(bitcoin) and similarly for doge, hash(doge).
Pool switchers will be asking: how does "USD / hash(bitcoin)" compare with "USD / hash(doge)"?
The action of pool switchers will cause, an equilibrium... (assuming that neither dogecoin nor bitcoin completely implodes and become worthless). Under condition III, the short-term miners will get their doge and trade it back to USD or bitcoin, causing the supply of doge to increase until mining doge is no longer economical. The reverse may also be true, though it is likely that whoever would have switched to doge would be staying in bitcoin. Thus, Condition II is the long-term result.
4. USD / hash(bitcoin) = USD / hash(doge)
Since equation 3 gave us a relationship for usd/hash,
5. exchange-rate(BTC) x reward-rate(BTC) = exchange-rate(DOGE) x reward-rate(DOGE)
If you accept my premise there should be an equilibrium, then, for the foreseeable future... what it really just means is that the resting average to dogecoin's worth, per USD, can be calculated as:
6. exchange-rate(DOGE) = exchange-rate(BTC) * (reward-rate(BTC) / reward-rate(DOGE) )
Recall the reward-rated:
1. reward-rate = crypto / (hash) = new-crypto-per-block / (hash / block)
Therefore, a substituted equation is:
7. exchange-rate(DOGE) = exchange-rate(BTC) * ( (BTC / hash) / (DOGE/ hash) )
But you know how much doge / hash is a variable... i.e. (DOGE / block) is programmed to change, e.g. such as being halved after block 100,000. Also, the rate of (hash / block) also depends on the global rate of hashes.
8. (DOGE/ hash) = (DOGE / block) / (hash / block)
**conclusions:** 
1) After halving, the dogecoin gained per hash will fall to a half. The equilibrium on dogecoin is therefore doubled (equation 7)… so until then, you can’t expect appreciation until halving.
2) Since dogecoin gained per hash is divided by the total number of hashes, the more hash power in dogecoin pools, the lower the “dogecoin gained per hash” will be. (another way of thinking about it… the more hash power long-term shibes have, the less likely opportunistic miners will come into dogecoin, since it’s spread among more people). The equation also implies that more hash power causes dogecoin to appreciate against BTC.
3) The bitcoin’s side of the equation… the declining rate of bitcoin generation will also decrease the worth of doge… it encourages miners from bitcoin to flood the doge community.
4) Not surprisingly… The less dogecoin per hash (less new supply), the more doge can be worth! Each halving will get us closer to the moon!
Disclaimer: this analysis only applies to the near-term situation. I don’t know what happens when bitcoin stops having new supply and becomes a deflationary currency. Also, this is a simplification… since scrypt can’t be run by hardware designed specifically for bitcoin... I don't expect the opportunistic miners to switch with complete flexibility.
To the moon!
submitted by SiriusAlphaCMa to dogecoin [link] [comments]

Any interest in a DOGE based multipool?

What I propose is a multipool that focuses on DOGE. The end result is DOGE and the pool calculates what other altcoins (if any) would result in more DOGE per hash using the typical profitability calculation (examples at coinwarz.com). By mining other currencies and trading for DOGE, this will raise the price of DOGE vs other coins. This will improve the image of DOGE in the eyes of the crypto community because it shows we are the true top doge in the crypto-currency world. When DOGE is the currency people want to hold it shows the world how awesome DOGE is.
Background for those unfamiliar with multipools: Multipools are mining pools that mine whatever currency is most profitable and trade them for bitcoins. By "profitable" I mean that the pool does some calculation to determine the relative difficulty and value of the coins vs Bitcoin and mines the one which would result in the most bitcoins per hash. Multipools focused on bitcoin are good for bitcoin owners because it drives up the relative price of bitcoin while pushing the price of other coins down.
tl;dr - DOGE based multipool. Is there any interest?
submitted by jahbreeze to dogecoin [link] [comments]

BitcoinDark Multipool - btcd.xpool.ca

This pool is the largest and first BitcoinDark Multipool which gives miners the choice to mine SHA256, SCRYPT as well as X11 coins to earn BitcoinDark. This allows you to make use of your legacy ASIC equipment to earn BitcoinDark which you would otherwise not be able to. Our systems are designed with the latest technology providing a stable and fast mining system. Incorporated into our backend, we search and calculate the ideal coin to mine to maximize profitability. All coins mined during a shift are exchanged and used to buy BitcoinDark. Once all the matured coins have been converted into BitcoinDark, all miners are sent their share of the BitcoinDark.
You can check it out at http://www.bitcoindark.ca
submitted by crackfoo to bitcoindark [link] [comments]

Shibes, now is the time to build our own rocket to the moon! And this is how:

Right now we are in an interesting discussion about our future – the future of our beloved dogechain. It's the backbone of our economy. Every tiny shibe uses the same playground to play and dig and to have all this fun.
Lately, as i'm sure every shibe noticed, we got an offer from litecoin to merge our mining. First of all, thank you ! Thats very kind.
But in my honest opinion, i think we are strong enough to stand on our own little paws. We don't need a bigger brother, who protects us when we are in trouble or someone wants to do us harm.
We are already strong enough to protect us on our own. And we found good friends in the playground, like the good guys from Digibyte.
But we have to be aware of our future. We have to defend ourself when we are threatened. We have to protect our dogechain.
The critical point is reached, when our blockreward is not enough to keep all the miners digging. The less people dig, the lower is our security of our dogechain. Especially when the first asic miners get released and only a few of them can totally overcome our global hashrate.
Yes, we can fight them if we change our algorithm to sCrypt-n, or Keccak, or X11, or...
We become a pure PoS Coin after the last block halving.
In my opinion we should get rid of the old PoW system, after the point we are fully mined out (our blockreward hits 10k coins). Instead we should change to pure PoS with an interest of 1-5% per year.
This would favour every shibe who believes in our coin. Just imagine the crazy buying and mining mania after everyone understands that dogecoins are limited. It would also make our blockchain safe to 51% PoW attacks!
This would also allow everyone to participate in the network, practically you could PoS mine with every smartphone or laptop or tablet, you just need your wallet on the device ! Every shibe can participate !!
And for our well experienced digging shibes, we could start our own Doge-Multipool for every other hash algorythm.
Right now our network is at 80 gigahash ! Thats 80000 megahash, or in other words:
360(!) bitcoin buying power every day! (if you calculate with 0,0045 btc/mh)
Now imagine that people pour 200k dollar in our economy every day. We can create Doge-Multipools for sCrypt-n, X11, Keccak or even Sha256! Imagine people to mine bitcoins, just to get paid out in dogecoins! Doesn't that sound to good to be true ? Well maybe, but we have 1 year in front of us to build our rocket.
And i honestly think, that this is the most efficient rocket to fly us to the moon. All of us !
Wex <3
submitted by Wex- to dogecoin [link] [comments]

"I want to start GPU mining." Ok, but you can't mind scrypt (like DOGE) anymore. You have to mine other places.

(I love DOGE. DOGE got me into mining. What makes us fellow Shibes is NOT DOGE mining, it's the community. Have you looked at the LTCmining subreddit? It's dead, and you can't even talk about other coins. No one helps each other. Shibes are friendly and help. I'm holding about a quarter million DOGE, but I also want everyone here to see ROI on the GPU rigs)
Mining DOGE or LTC or any other scrypt coin with a GPU rig right now WILL NEVER GET YOU ROI! Does that mean GPU mining is dead? No. It just means it's moved. I GPU mined bitcoin back in the day (when it was about 1c per BTC), and then GPU mining moved to scrypt. Now it's scrypt-n or X11. GPU mining is a moving target, but to make money on it you HAVE to mine it BEFORE it's the most profitable thing.
Who made more money off DOGE, the people (like me) who mined it for 3 weeks straight when it was always in the top 5 most profitable coins, or the people that mined it in the early days when they were making $1 a day at current prices, but pulling in a million DOGE a week? Mining and holding at DOGE low, and then selling at 90% of the high would have netted you a TON of money.
Where is that now? X11 coins. Right now, just look at the last month for DarkCoin. I did the calculations. If I'd mined and held for 28 days and sold yesterday, I would have made approx $4167....in 28 days.
Now, THIS IS NOT A PROMISE OF FUTURE EARNINGS! I've been mining X11 at TradeMyBit for the last week and a half, and I've made about triple what anyone mining at wafflepool, clevermining, or any scrypt multipool is making.
I made a guide for anyone wanting to move to X11 a few days ago, and I just figured that I'd bring it up again.
submitted by Rawtashk to dogemining [link] [comments]

Megacoins explanation of Kimoto Gravity Well

The Newbie's Guide to the Kimoto Gravity Well
Many of you may have heard of Kimoto's Gravity Well and that it is supposedly a major part of what makes Megacoin unique from other cryptocurrencies. However, many of you may also not know what exactly it is and what makes it so special. If that is the case, then this guide is for you.
What Is a Mining Difficulty Readjustment Algorithm, Anyway? To understand what the Gravity Well algorithm is and what it does, you first need to understand what a "mining difficulty readjustment algorithm" is and why is it important for all current cryptocurrencies based off of the original Bitcoin source code. First, let's pull a few important definitions from the Bitcoin wiki:
Difficulty Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be.
Difficulty Readjustment (for Bitcoin) The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find.
So basically, the "difficulty" of a coin determines how hard it is for miners to find and mint blocks of that coin. The more miners there are mining a coin, the faster blocks will be found and at the end of this difficulty readjustment period (approximately every two weeks for Bitcoin), the difficulty will change accordingly so that the number of coins minted will follow the intended distribution curve. This has worked well for Bitcoin (so far) because of it's extremely slow adoption rate in the early days and now because of the sheer number of miners on the network. However, this method of difficulty readjustment is flawed for new altcoins entering the market today for a number of reasons which I will discuss below.
The History of the Gravity Well Mining Difficulty Readjustment Algorithm When Megacoin first launched, it used a more traditional difficulty readjustment algorithm based off of Bitcoin's original proposal. (Author's note: I have forgotten what the original implementation was for Megacoin, but if anyone knows the details please let me know so I can put that here for perspective and history's sake.) By this time, some SHA-256 coins had already felt the pain of difficulty readjustment problems due to the influx of ASIC miners and an activity known as "pool-hopping".
If you are familiar with cryptocurrency mining at all, you may already know that in most cases, solo mining is usually impossible without extremely powerful hardware due to the large number of people now aware of cryptocurrencies and willing to mine for them. Most miners mine through pools, which provide proportional payouts of coins based on the amount of hashing power you provide to the network. This mitigates some of the risk of mining in that you receive a steady stream of coins based on your network hashing rate, so even small-time miners can still earn their share of the pie. However, as pool mining became more popular and more altcoins arrived on the market, services known as "multipools" began to appear. These were special pools that allowed miners to automatically switch to the "most profitable" coin to mine based on the current exchange rates. However, these new multipools introduced some new problems to the cryptocurrency landscape, one of those being major difficulty readjustment woes.
As Megacoin began to rise in price several months after its inception, it started to become a target for these multipools. What happens when this occurs is that suddenly the Megacoin network gets barraged by an influx of new (and very powerful) miners. This causes the block confirmation time to plummet and subsequently causes the difficulty to skyrocket at the next difficulty readjustment. When this occurs, the mining profitability also drops due to the higher difficulty which then in turn causes all of the multipool miners to leave the network in search of the next most profitable coin. What remains is an extremely high difficulty and only the "core" group of Megacoin miners left to deal with the aftermath. In extreme cases, the difficulty may be so high in proportion to the number of miners left that the entire network grinds to a halt. This has happened in the past to Terracoin and Feathercoin, among others. The only solution if this occurs is to hard fork the coin in an attempt to readjust the difficulty (or change the difficulty readjustment algorithm) or simply grind out the mining at an extremely slow pace (during which time the coin is basically unusable) until enough blocks are found to make it to the next difficulty readjustment. The more blocks required until the next difficulty readjustment, the longer this period of unusability will be, and in some cases could mean the death of the coin completely unless drastic measures are taken.
When this happened to Megacoin, Kimoto decided to come up with a better way to perform difficulty readjustment, and the result is the Kimoto Gravity Well (which is now also used as the difficulty readjustment algorithm for Anoncoin as well after it met a similar fate as that described above). And thus, we have the Megacoin we know and love today. Next I will discuss what exactly the Gravity Well does and how it works to keep mining stable and fair for all Megacoin miners and users.
Gravity Well: Explained Now that you know how the Gravity Well came to be, let's take a look at what exactly it does and how it works. At the most basic level, Kimoto has changed how difficulty readjustment works so that the difficulty is adjusted after every single block that is mined on the network. I'm not 100% sure about the exact mathematics behind the calculations, but so far since its introduction on the network the difficulty has adjusted smoothly and flawlessly no matter how many miners there are on the network and even throughout the huge price (and subsequent mining hash rate) increase we have seen over the past couple of weeks. This keeps mining fair and secure for all miners and users of the coin, and prevents the rampant multipool abuse that was (and still is) common with most all other altcoins out on the market today. This is even more important to consider when one day ASIC miners are developed for Scrypt coins and a small number of miners will suddenly have access to extremely powerful mining hardware. If and when this occurs, a malicious (or simply greedy) miner can simply point his or her ASIC miner at any Scrypt-based coin and cripple it because of the extreme difficulty fluctuation this will cause. (This is actually what happened with Terracoin after SHA-256 ASICS began to flood the market.) Megacoin, however, will be safe from this type of malicious mining behavior due to the smooth difficulty readjustment that Kimoto's Gravity Well provides.
Hopefully this will act as a guide for new investors to Megacoin who may have heard about Gravity Well but are not quite sure what it means or what it even is. If any of you have anything else to add to this, please post! Information is power. :)
submitted by RangerHammond to bunnyshibes [link] [comments]

Maxcoin Fundamentals -- Concept of Difficulty, Difficulty Retargeting & The Kimoto Gravity Well

Dear friends.
Below a full article that explains what the Kimoto Gravity Well is and the mathematics involved.
TL;DR -- "Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be. Originally its calculated by averaging the time it took to mine blocks during a 2 week period. Due to the influx of ASIC miners and "pool-hopping", mining difficulty can fluctuate dangerously killing or seriously harming the coin (It happened to Terracoin, Frathercoin, Megacoin and Anoncoin). KWG means that difficulty is adjusted after every single block that is mined on the network. It also determines the number of blocks which contribute to the evaluation of the new difficulty. It gives fewer blocks for high hashrate changes and is therefore more adaptive."
What Is a Mining Difficulty Readjustment Algorithm, Anyway?
To understand what the Gravity Well algorithm is and what it does, you first need to understand what a "mining difficulty readjustment algorithm" is and why is it important for all current cryptocurrencies based off of the original Bitcoin source code. First, let's pull a few important definitions from the Bitcoin wiki:
Difficulty
Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be.
Difficulty Readjustment (for Bitcoin)
The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find.
So basically, the "difficulty" of a coin determines how hard it is for miners to find and mint blocks of that coin. The more miners there are mining a coin, the faster blocks will be found and at the end of this difficulty readjustment period (approximately every two weeks for Bitcoin), the difficulty will change accordingly so that the number of coins minted will follow the intended distribution curve. This has worked well for Bitcoin (so far) because of it's extremely slow adoption rate in the early days and now because of the sheer number of miners on the network. However, this method of difficulty readjustment is flawed for new altcoins entering the market today for a number of reasons which I will discuss below.
The History of the Gravity Well Mining Difficulty Readjustment Algorithm
When some alternative crypto's like Megacoin were first launched, they used a more traditional difficulty readjustment algorithm based off of Bitcoin's original proposal. In the case of Megacoin, the difficulty was set to retarget every 22.5 minutes based on the same algorithm as Bitcoin, however, the developers later modified the source code to implement Kimoto Gravity retargetting because, by this time, some SHA-256 coins had already felt the pain of difficulty readjustment problems due to the influx of ASIC miners and an activity known as "pool-hopping".
If you are familiar with cryptocurrency mining at all, you may already know that in most cases, solo mining is usually impossible without extremely powerful hardware due to the large number of people now aware of cryptocurrencies and willing to mine for them. Most miners mine through pools, which provide proportional payouts of coins based on the amount of hashing power you provide to the network. This mitigates some of the risk of mining in that you receive a steady stream of coins based on your network hashing rate, so even small-time miners can still earn their share of the pie. However, as pool mining became more popular and more altcoins arrived on the market, services known as "multipools" began to appear. These were special pools that allowed miners to automatically switch to the "most profitable" coin to mine based on the current exchange rates. However, these new multipools introduced some new problems to the cryptocurrency landscape, one of those being major difficulty readjustment woes.
As some altcoins began to rise in price several months after its inception, it started to become a target for these multipools. What happens when this occurs is that suddenly the You-Name-It-Coin network gets barraged by an influx of new (and very powerful) miners. This causes the block confirmation time to plummet and subsequently causes the difficulty to skyrocket at the next difficulty readjustment. When this occurs, the mining profitability also drops due to the higher difficulty which then in turn causes all of the multipool miners to leave the network in search of the next most profitable coin. What remains is an extremely high difficulty and only the "core" group of a certain altocin's miners left to deal with the aftermath. In extreme cases, the difficulty may be so high in proportion to the number of miners left that the entire network grinds to a halt. This has happened in the past to Terracoin and Feathercoin, among others. The only solution if this occurs is to hard fork the coin in an attempt to readjust the difficulty (or change the difficulty readjustment algorithm) or simply grind out the mining at an extremely slow pace (during which time the coin is basically unusable) until enough blocks are found to make it to the next difficulty readjustment. The more blocks required until the next difficulty readjustment, the longer this period of unusability will be, and in some cases could mean the death of the coin completely unless drastic measures are taken.
When this happened to Megacoin for example, Kimoto decided to come up with a better way to perform difficulty readjustment, and the result is the Kimoto Gravity Well (which is now also used as the difficulty readjustment algorithm for Megacoin, Maxcoin, Anoncoin among others).
Gravity Well: Explained
Now that you know how the Gravity Well came to be, let's take a look at what exactly it does and how it works. At the most basic level, Kimoto has changed how difficulty readjustment works so that the difficulty is adjusted after every single block that is mined on the network.
The formula for the Kimoto Gravity Well (KGW) is the following
KGW = 1 + (0.7084 * (PastBlocksMass/144)-1.228)
The goal is to have a more adaptive way of adjusting the difficulty instead of just averaging the last 2016 blocks like bitcoin. This is needed because of multipools which might switch the coin they are mining, and a sudden change in hashrate can occur (both increasing or decreasing). Especially when a multipool switches away you get stuck too long with a too high difficulty.
The algo loops backwards through the blocks, starting from the current one. The PastBlocksMass is just the number of blocks, so it starts at one and increases in each loop.
In each loop an adjustment factor is computed, which is the target block time divided by the actual block time, in a cumulative fashion, so at loop 10 we would have the 25 minutes target time divided by the time it actually took to compute the last ten blocks. When the hashrate increases, we get shorter times and an adjustment factor greater than one and vice versa.
The loop ends whenever the average adjustment factor is larger than the kimoto-value, or smaller than 1/kimoto-value.
Summary: the Kimoto gravity well algo has a fancy name and determines the number of blocks which contribute to the evaluation of the new difficulty. It gives fewer blocks for high hashrate changes and is therefore more adaptive.
More details on the math's involved and a practical example can be found here :: https://bitcoin.stackexchange.com/questions/21730/how-does-the-kimoto-gravity-well-regulate-difficulty
NOTE:: The two original post that inspired this article were focused solely on Megacoin. I made some small modifications to them so the post can be applied to any cryptocurrency on the market. Below the references.
Original Post 1 (History & Background) --- https://forum.megacoin.co.nz/index.php?topic=893.0
Oroginal Post 2 (Mathematics & practical example) -- https://bitcoin.stackexchange.com/questions/21730/how-does-the-kimoto-gravity-well-regulate-difficulty
Original Release note of the Kimoto Gravity Well -- https://bitcointalk.org/index.php?topic=240861.msg3040291#msg3040291
We have to know very well the fundamentals of what we love.
Have a great day
submitted by lapsaroundthesun to maxcoin [link] [comments]

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