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Offline blahblah7up

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What does mining mean for this project?
« on: November 27, 2014, 11:47:30 AM »

Do you just install the client and then that's it, you're mining?

Offline xeroc

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Re: What does mining mean for this project?
« Reply #1 on: November 27, 2014, 11:48:39 AM »
Do you just install the client and then that's it, you're mining?
no mining with BitShares .. it's a (Delegated) Proof of Stake system ..
« Last Edit: November 27, 2014, 12:58:11 PM by xeroc »
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Offline blahblah7up

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Re: What does mining mean for this project?
« Reply #2 on: November 27, 2014, 12:56:47 PM »
Do you just install the client and then that's it, you're mining?
no mining with BitShares .. it's a (Delegated) Proof of Stake system ..

I think you're mistaken.  From the announcement:

Currency Unit:  SPK (Spark)
Mining Algorithm: SHA512  (initial, may change subject to delegate vote.)
Initial Supply: 100M SPK  (Divided among AGS, PTS, and BTS holders)
Mining Reward:  50 SPK / block, linearlly decreasing to 0 over 100 years.
Workers Reward:  50 SPK / block, linearlly decreasing to 0 over 100 years.
Block Interval: 20 seconds
Maximum Spark Supply: 7,984,000,000 SPK after 100 years.
Precision:  5 decimal places

bump original question

Offline xeroc

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Re: What does mining mean for this project?
« Reply #3 on: November 27, 2014, 12:58:02 PM »
Dang ... I need to get used to that fact that we now have a subforum for sparkle ... sorry .. my mistake ..
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Offline biophil

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Re: What does mining mean for this project?
« Reply #4 on: November 27, 2014, 03:06:36 PM »
Do you just install the client and then that's it, you're mining?

No, it will be like bitcoin in that you'll only be able to mine if you have specialized mining hardware.

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Offline bytemaster

Re: What does mining mean for this project?
« Reply #5 on: November 27, 2014, 03:08:19 PM »

Do you just install the client and then that's it, you're mining?

No, it will be like bitcoin in that you'll only be able to mine if you have specialized mining hardware.

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Depends on how long it takes and how big it gets. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline ffwong

Re: What does mining mean for this project?
« Reply #6 on: November 30, 2014, 04:33:59 AM »
SHA256 mining will attract industrial level miners. But do they really interest? Why don't they mine Bitcoin directly? If they are really interested, most coins will go to them (again). Do we need a fair distribution?  :(

SHA256 will drive away hobby (or individual) miners without ASIC machines.

I would not suggest both SHA256 and scrypt, as there are ASIC already. X11 is also close to ASIC available (I guess).

How about some mining alg that is more friendly to individual or hobby miners?
Cast me some votes. I am running:
- dragonball for Bitshares 2.0 net
- delegate.fftt for PTS (DPOS) net

Offline anycoin

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Re: What does mining mean for this project?
« Reply #7 on: December 25, 2014, 03:33:24 AM »
Script Asics are inexpensive now.....not really anymore than gpu rigs so I dont think that  using script and or sha256 would really hurt most hobby miners.  I use a couple of gridseeds for playing..testing whatever you call it, script coins.

 

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