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Author Topic: Should we institute merged mining?  (Read 2720 times)

lavajumper

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Should we institute merged mining?
« on: November 24, 2015, 12:00:39 AM »
I've spent some time getting familiar with merged mining. This stems from my concerns about the network hash rate and the actual solve times I'very been watching on the block chain. I see a hell of a lot of upside to this, and am confident that we can implement it.

My understanding so far is that pools can share hash power from litecoin  or dogecoin  and use it on sexcoin  concurrently.

Is anyone aware of a downside?

What do you think?

Timelord2067

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Re: Should we institute merged mining?
« Reply #1 on: November 25, 2015, 02:43:04 AM »
I've spent some time getting familiar with merged mining. This stems from my concerns about the network hash rate and the actual solve times I'very been watching on the block chain. I see a hell of a lot of upside to this, and am confident that we can implement it.

My understanding so far is that pools can share hash power from litecoin  or dogecoin  and use it on sexcoin  concurrently.

Is anyone aware of a downside?

What do you think?

I turned my two cards off two months ago as my power bill is $5 per day and I'm not generating $5 in crypto per year, so it's been fun, but I'm thinking I could throw some sats towards hiring firepower to keep the hash rate afloat, but even then what is generated, I'd be better off just buying the coins for cash.

I'm in for the long haul, but my <1MH/s just doesn't cut it.
BTC 1SExsxcbXWkuRbhLhKG1w8KgXp1eY1GbN | SXC SEXYKUp7CYWKLWr54UtBKVnfjoN13Ybpha |

Nerull

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Re: Should we institute merged mining?
« Reply #2 on: November 25, 2015, 02:58:53 AM »
my asic has been turned off for a year cause i can buy more coins then i could mine with power cost.

Merge mining might make stuff profitable and encourage more people to mine again. That or switch to POS!  :P

lavajumper

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Re: Should we institute merged mining?
« Reply #3 on: November 26, 2015, 12:23:08 AM »
As I said in BCT, I'm getting very nervous about the current hashrate and the solve times. There is a pool out there that switches periodically ( and I'm not faulting the pool, quite the opposite, I'm VERY grateful they mine the coin ) and when they do, they can pop 10 blocks in a minute before KGW starts adjusting.This concerns me for a few reasons.

  • The blocks don't contain transactions
  • The money supply 'floods', thus skewing the metrics that investors look at
  • It highlights how easy it would be to pull off a 51%
  • The coins are IMMEDIATELY dumped on cryptsy, for whatever the highest buy order is

Just to be clear, this is NOT the pool's fault. I've looked at doing the same thing on my pool. It is a result of the coin network and our current mining/concensus algorithm. Also, it would be completely a non-issue if we had either 1) higher velocity of money or 2) higher, more evenly distributed network hashrate.

The merged mining seems to be a way to mitigate the hashrate problem. I saw the argument presented that a pool could have a 51%, but I really don't see that as much of an issue as people think. The pool operators would have to execute the attack. Also, if merged mining is possible, I think it would attract more than one whale pool so....
Quote
"Ambition must be made to counteract ambition"
                                         -James Madison

To solve the velocity problem and by extension the market depth, we need a payment processor. Right now we can't spend sexcoin. But that's another discussion  ;)

Timelord2067

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Re: Should we institute merged mining?
« Reply #4 on: November 28, 2015, 10:44:16 AM »
OK People if you have some spare [BTC] you can pay for others to hash for you

http://www.miningrigrentals.com?ref=15443

0.0022 [BTC] gets about 1.0 Mh/s for 14 days, so if a dozen of us were chipping in we can have anywhere from 15 - 150 Mh/s per fortnight.

*edit* 27/06/2017 Just picked up 10MH/s for 600 hours for [BTC] 0.0255
« Last Edit: June 27, 2017, 06:34:18 AM by Timelord2067 »
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