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Offline Secabre

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"Protoshares is a CPU-mined coin"
« on: January 22, 2014, 01:52:43 AM »

Hello.

I was wondering, what will Protoshares do now their claims seem so be a lie?

Quote
Over the last few months there has been a lot of talk about Protoshares. Protoshares is a CPU-mined coin, which uses a new Proof-Of-Work (POW) algorithm called Momentum , designed to resist GPU and ASIC implementation.
http://protoshares.com/mining.html

So, "What's backing your coin?"
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Offline Stan

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Re: "Protoshares is a CPU-mined coin"
« Reply #1 on: January 22, 2014, 02:56:44 AM »
Hello.

I was wondering, what will Protoshares do now their claims seem so be a lie?

Quote
Over the last few months there has been a lot of talk about Protoshares. Protoshares is a CPU-mined coin, which uses a new Proof-Of-Work (POW) algorithm called Momentum , designed to resist GPU and ASIC implementation.
http://protoshares.com/mining.html

So, "What's backing your coin?"

BitShares PTS, unlike most other coins, is backed by something that is actually tangible - rights to shares in a whole family of crypto equities that are themselves designed to be highly profitable businesses.

Further, lessons learned in the momentum algorithm have led to the rapid evolution of technologies that don't require mining to secure the network.  Eliminating the costs of mining doubled the dividends that could be offered and increased the amount of equity in profitable new businesses that could be made available to PTS holders by a factor of five.

Further, the wildly successful AGS funding engine, raising $50,000 or more donations for the industry per day, has greatly accelerating the development, support and promotion of the ecosystem and is accelerating the launch of many new DACs for PTS holders to own. 

We are now able to sponsor a BitShares Developers Conference in Las Vegas on July 12-14 dedicated to spreading this technology to many more developers - further accelerating the growth of the ecosystem.

The value proposition of PTS is now easily an order of magnitude greater than the day it was launched little more than 10 weeks ago. 

Indeed you ask a great question:  "What's backing your coin?   :)


 
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline progmac

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Re: "Protoshares is a CPU-mined coin"
« Reply #2 on: January 22, 2014, 01:14:39 PM »
Hello.

I was wondering, what will Protoshares do now their claims seem so be a lie?

Quote
Over the last few months there has been a lot of talk about Protoshares. Protoshares is a CPU-mined coin, which uses a new Proof-Of-Work (POW) algorithm called Momentum , designed to resist GPU and ASIC implementation.
http://protoshares.com/mining.html

So, "What's backing your coin?"

BitShares PTS, unlike most other coins, is backed by something that is actually tangible - rights to shares in a whole family of crypto equities that are themselves designed to be highly profitable businesses.

Further, lessons learned in the momentum algorithm have led to the rapid evolution of technologies that don't require mining to secure the network.  Eliminating the costs of mining doubled the dividends that could be offered and increased the amount of equity in profitable new businesses that could be made available to PTS holders by a factor of five.

Further, the wildly successful AGS funding engine, raising $50,000 or more donations for the industry per day, has greatly accelerating the development, support and promotion of the ecosystem and is accelerating the launch of many new DACs for PTS holders to own. 

We are now able to sponsor a BitShares Developers Conference in Las Vegas on July 12-14 dedicated to spreading this technology to many more developers - further accelerating the growth of the ecosystem.

The value proposition of PTS is now easily an order of magnitude greater than the day it was launched little more than 10 weeks ago. 

Indeed you ask a great question:  "What's backing your coin?   :)
A very informative reply. I struggle with any of this being really "tangible."

I got into PTS because of the CPU-only algorithm. I'm still going along, but more tentatively. Of course, my total investment could barely buy a decent steak dinner for two, so what do I know?
if you want to support my incoherent ramblings
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Offline r05

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Re: "Protoshares is a CPU-mined coin"
« Reply #3 on: January 22, 2014, 02:28:06 PM »
Hello.

I was wondering, what will Protoshares do now their claims seem so be a lie?

Quote
Over the last few months there has been a lot of talk about Protoshares. Protoshares is a CPU-mined coin, which uses a new Proof-Of-Work (POW) algorithm called Momentum , designed to resist GPU and ASIC implementation.
http://protoshares.com/mining.html

So, "What's backing your coin?"

BitShares PTS, unlike most other coins, is backed by something that is actually tangible - rights to shares in a whole family of crypto equities that are themselves designed to be highly profitable businesses.

Further, lessons learned in the momentum algorithm have led to the rapid evolution of technologies that don't require mining to secure the network.  Eliminating the costs of mining doubled the dividends that could be offered and increased the amount of equity in profitable new businesses that could be made available to PTS holders by a factor of five.

Further, the wildly successful AGS funding engine, raising $50,000 or more donations for the industry per day, has greatly accelerating the development, support and promotion of the ecosystem and is accelerating the launch of many new DACs for PTS holders to own. 

We are now able to sponsor a BitShares Developers Conference in Las Vegas on July 12-14 dedicated to spreading this technology to many more developers - further accelerating the growth of the ecosystem.

The value proposition of PTS is now easily an order of magnitude greater than the day it was launched little more than 10 weeks ago. 

Indeed you ask a great question:  "What's backing your coin?   :)
A very informative reply. I struggle with any of this being really "tangible."

I got into PTS because of the CPU-only algorithm. I'm still going along, but more tentatively. Of course, my total investment could barely buy a decent steak dinner for two, so what do I know?
Protoshares are no longer "CPU-only". It may be an idea to have a read of these forums before you invest any further CPU time into it, as there has been an eruption of GPU miners in the past month and they can mine much faster than CPUs.
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Offline Secabre

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Re: "Protoshares is a CPU-mined coin"
« Reply #4 on: January 23, 2014, 01:35:49 PM »
Hello.

I was wondering, what will Protoshares do now their claims seem so be a lie?

Quote
Over the last few months there has been a lot of talk about Protoshares. Protoshares is a CPU-mined coin, which uses a new Proof-Of-Work (POW) algorithm called Momentum , designed to resist GPU and ASIC implementation.
http://protoshares.com/mining.html

So, "What's backing your coin?"

BitShares PTS, unlike most other coins, is backed by something that is actually tangible - rights to shares in a whole family of crypto equities that are themselves designed to be highly profitable businesses.

Further, lessons learned in the momentum algorithm have led to the rapid evolution of technologies that don't require mining to secure the network.  Eliminating the costs of mining doubled the dividends that could be offered and increased the amount of equity in profitable new businesses that could be made available to PTS holders by a factor of five.

Further, the wildly successful AGS funding engine, raising $50,000 or more donations for the industry per day, has greatly accelerating the development, support and promotion of the ecosystem and is accelerating the launch of many new DACs for PTS holders to own. 

We are now able to sponsor a BitShares Developers Conference in Las Vegas on July 12-14 dedicated to spreading this technology to many more developers - further accelerating the growth of the ecosystem.

The value proposition of PTS is now easily an order of magnitude greater than the day it was launched little more than 10 weeks ago. 

Indeed you ask a great question:  "What's backing your coin?   :)

Great answer,  but not not the answer to my question :)

Since Protoshares brought 'wild' suggestions in the world that it is impossible to mine it with GPU. People invested alot of money in the mining for CPU.
Yet, 3 months later it's GPU minable! That whole "Fair Mining" is gone in the wind and was based on nothing else then bullshit.

I really wonder what the dev's behind PTS are thinking, since their #1 claim appears to ba a lie.

Thats why I asked this question again, what is backing the PTS coin now?
Because it already losts its core value and the coin value was cut in half!

Not to forget the Mining Guide (link: Official PTS mining guide - It's all digitalocean, first it seems ok.
Then notice how their is a refferal code in their link to Protoshares. SOMEONE IS SOMEWHERE MAKING ALOT OF MONEY FROM US!

I'm pretty sure that PTS is actually a scam where ALOT of people fell into.
If my post helped you, please donate too:
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Offline bytemaster

Re: "Protoshares is a CPU-mined coin"
« Reply #5 on: January 23, 2014, 01:44:57 PM »
#1 claim was that we would honor PTS as part of BTS
#2 claim was that it would be GPU and ASIC resistant, and thus far has proved to be more so than anything else (except perhaps Primecoin)
#3 we paid a bounty to find holes with our proof of work so made our best effort a CPU only coins.
#4 66% of all coins ever mined were mined on a CPU
#5 the advent of GPU miners has not made CPU mining unprofitable
#6 the referral code and DO mining guide was not produced by Invictus

Do you call Script coins SCAM coins because it was originally supposed to be CPU only?   
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.

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Re: "Protoshares is a CPU-mined coin"
« Reply #6 on: January 23, 2014, 09:15:41 PM »
so you can still mine pts? I just downloaded the qt and I do not see how you mine. There is also a link to a mining guide on the invictus.io website that does not work.

Offline rysgc

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Re: "Protoshares is a CPU-mined coin"
« Reply #7 on: January 23, 2014, 09:31:31 PM »
so you can still mine pts? I just downloaded the qt and I do not see how you mine. There is also a link to a mining guide on the invictus.io website that does not work.

The mining option was removed from the wallet, it was not optimized but did what it could in the beginning. There are lots of optimized miners available now (both CPU/GPU) with x times greater speeds, just sign up with a mining pool, install the miner software and you're good to go. There are lots of topics about this , a good start would be here: https://bitsharestalk.org/index.php?board=11.0
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Offline rysgc

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Re: "Protoshares is a CPU-mined coin"
« Reply #8 on: January 23, 2014, 09:40:39 PM »
Quote
Great answer,  but not not the answer to my question :)

Since Protoshares brought 'wild' suggestions in the world that it is impossible to mine it with GPU. People invested alot of money in the mining for CPU.
Yet, 3 months later it's GPU minable! That whole "Fair Mining" is gone in the wind and was based on nothing else then bullshit.

I really wonder what the dev's behind PTS are thinking, since their #1 claim appears to ba a lie.

Thats why I asked this question again, what is backing the PTS coin now?
Because it already losts its core value and the coin value was cut in half!

Not to forget the Mining Guide (link: Official PTS mining guide - It's all digitalocean, first it seems ok.
Then notice how their is a refferal code in their link to Protoshares. SOMEONE IS SOMEWHERE MAKING ALOT OF MONEY FROM US!

I'm pretty sure that PTS is actually a scam where ALOT of people fell into.

Dude common, it's not even relevant...A (big) bounty was brought up just to see if it it could withstand GPU mining, of course there are people going after the bounty and try their best to 'defeat' it  and yes they succeeded but it's certainly not like GPU mining has taken over. I suggest you read up on what this all is about and what the people are doing here with passion and I'm sure you'd change your opinion instantly. Seems like you just wanted some quick 'n easy cash while 'investing' $20 but didn't work out and now your looking for someone to blame.
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Offline oco101

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Re: "Protoshares is a CPU-mined coin"
« Reply #9 on: January 23, 2014, 10:11:00 PM »
Quote
Great answer,  but not not the answer to my question :)

Since Protoshares brought 'wild' suggestions in the world that it is impossible to mine it with GPU. People invested alot of money in the mining for CPU.
Yet, 3 months later it's GPU minable! That whole "Fair Mining" is gone in the wind and was based on nothing else then bullshit.

I really wonder what the dev's behind PTS are thinking, since their #1 claim appears to ba a lie.

Thats why I asked this question again, what is backing the PTS coin now?
Because it already losts its core value and the coin value was cut in half!

Not to forget the Mining Guide (link: Official PTS mining guide - It's all digitalocean, first it seems ok.
Then notice how their is a refferal code in their link to Protoshares. SOMEONE IS SOMEWHERE MAKING ALOT OF MONEY FROM US!

I'm pretty sure that PTS is actually a scam where ALOT of people fell into.

Dude common, it's not even relevant...A (big) bounty was brought up just to see if it it could withstand GPU mining, of course there are people going after the bounty and try their best to 'defeat' it  and yes they succeeded but it's certainly not like GPU mining has taken over. I suggest you read up on what this all is about and what the people are doing here with passion and I'm sure you'd change your opinion instantly. Seems like you just wanted some quick 'n easy cash while 'investing' $20 but didn't work out and now your looking for someone to blame.
+1

Offline dga

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Re: "Protoshares is a CPU-mined coin"
« Reply #10 on: January 25, 2014, 01:33:49 AM »
Quote

Dude common, it's not even relevant...A (big) bounty was brought up just to see if it it could withstand GPU mining, of course there are people going after the bounty and try their best to 'defeat' it  and yes they succeeded but it's certainly not like GPU mining has taken over. I suggest you read up on what this all is about and what the people are doing here with passion and I'm sure you'd change your opinion instantly. Seems like you just wanted some quick 'n easy cash while 'investing' $20 but didn't work out and now your looking for someone to blame.

Chiming in here as one of the bounty claimants:

Almost anything can be done on a GPU.  The real question is what the efficiency ratio is relative to CPU.  I've been pretty public in stating that I believe that the "GPU proof"-ness is bogus, but it's worth taking a closer look at the coins/sec/$ earned on CPUs vs GPUs for different coins - and, while we haven't seen the end of advances in either area, at this point, PTS and MMC are actually really interesting:  The coins/sec/$ is much closer between GPU and CPU than for most other currencies (except XPM, because nobody's bothered yet).

I keep a little spreadsheet for my own miners, and the entries in there are really interesting:

GTX 640 GDDR5 PTS:  250 c/m for $85 - about 2.8 c/m/$.
Intel Xeon E3 Haswell - estimated 525 c/m for about $268 - about 1.96 c/m/$.

Shopping the GPU around might double that c/m/$ if you found the right cheap card, but the difference there -- 50%?  100% -- is negligible compared to the 10-50x difference with scrypt and the massive gap for SHA512 ASICs.

I don't personally think that having a "CPU-friendly" coin is very important - all of the mining blah is just a mechanism for double-spend prevention - but the algorithms are technically interesting in that they do go a long way to evening the field compared to prior ones, if an even field is your goal.

Offline rysgc

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Re: "Protoshares is a CPU-mined coin"
« Reply #11 on: January 25, 2014, 01:47:01 AM »
Thank you dga for the in-depth clarification.
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Offline liquiddrool

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Re: "Protoshares is a CPU-mined coin"
« Reply #12 on: January 26, 2014, 12:44:25 AM »
While I appreciate the conversation, the OP has already made up their mind and is not actually searching for information, but only trying to flame the coin.  If you don't like it don't invest in it.

On that note, I am actually selling out of it.
« Last Edit: January 26, 2014, 12:45:57 AM by liquiddrool »

Offline barwizi

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Re: "Protoshares is a CPU-mined coin"
« Reply #13 on: January 28, 2014, 08:06:19 AM »
My expert opinion is that this guy asked the question as bait.

With that said, allow me to tell you another expert opinion......when money is offered up to break something, people work harder than they would to make it. ANY COIN CAN BE GPU MINED once GPU gurus decide it. It's the efficiency you need to focus on. If a single 7950 (most popular mining card)  is only capable of less than 10x the speed then i consider it a success.
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Offline justalo

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Re: "Protoshares is a CPU-mined coin"
« Reply #14 on: November 25, 2014, 12:40:50 PM »
I call it a success when a coin resist gpu mining for this long,
« Last Edit: March 25, 2015, 12:13:42 PM by justalo »

 

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