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Linus (Float) Coin suggestions

ChalkChalkson
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29 minutes ago, porina said:

I think the biggest question is, what is the goal of this coin? Beyond just existing... a decision needs to be made early on if it will have some financial value or not, as I hate to imagine what the tax and regulation implications are if it is used in that way. 

 

It was some time ago, Ars Technica created their own coin as a learning exercise. They tightly controlled it as they specifically didn't want it to run forever, beyond the time it took for them and regular visitors to try it out and see how it worked, before they killed it. I think it unlocked some forum or similar badge. So maybe that's a similar model that could be used. No particular cash value as such, but may be used to gain a forum bade or other minor perks. Without ongoing uses for it to feed, interest will likely be ever present but never at a high level.

definitely agree with this! you can never have too many forum badges, and this assures the coin doesn't 'spiral out of control' so to speak.

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10 hours ago, GamingRadar101 said:

Ill buy a few coins, but what about the algorithm? I think that you guys should go with Blake2B because right now there is only 1 coin for that algorithm but there are PLENTY of miners.

Most LTT fans probably want a GPU coin, so I suggested cloning ETH but with a new ledger

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58 minutes ago, porina said:

I think the biggest question is, what is the goal of this coin? Beyond just existing... a decision needs to be made early on if it will have some financial value or not, as I hate to imagine what the tax and regulation implications are if it is used in that way.

That's why I made this thread and started it with a concept idea. I like your more limited concept idea, too though. But with that it is much harder to show off how easily crypto can be manipulated by the one starting it

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I am down for this. Seeing the LTT folding team is like 7th in the world we could maybe get a decent amount of miners. 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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27 minutes ago, BuckGup said:

I am down for this. Seeing the LTT folding team is like 7th in the world we could maybe get a decent amount of miners. 

I   hope the people currently folding will continue doing so :P

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It's funny how PC gaming channels are talking about how cryptocurrency mining are destroying PC gaming by driving the GPU prices up and stores running out of stock, then you have Linus promoting crypto mining and creating his own coin. Makes you wonder...

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15 minutes ago, TehStranger said:

It's funny how PC gaming channels are talking about how cryptocurrency mining are destroying PC gaming by driving the GPU prices up and stores running out of stock, then you have Linus promoting crypto mining and creating his own coin. Makes you wonder...

 Well.. While LTT viewers and Gamers certainly overlap, LTT was never a gaming channel. And they are well aware of this issue, I mean they talked about this a few times...

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4 minutes ago, ChalkChalkson said:

 Well.. While LTT viewers and Gamers certainly overlap, LTT was never a gaming channel. And they are well aware of this issue, I mean they talked about this a few times...

That is very true. But don't forget that they themselves are gamers, and if they cared even a little about the community then they wouldn't be encouraging crypto mining. I wasn't aware that they've touched on the topic, I don't watch WAN Show.

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9 minutes ago, TehStranger said:

That is very true. But don't forget that they themselves are gamers,

Well, Luke is, Linus (according to himself) doesn't really play anymore, since he is pretty strapped for time.

9 minutes ago, TehStranger said:

and if they cared even a little about the community then they wouldn't be encouraging crypto mining.

Wow, that is a harsh statement, and I feel there might be a few things problemetic with this statement. 1: you imply that mining adventure made people buy gaming hardware, but if anything, I think it might have discouraged people from doing so. 2: kind of by definition mining adventure mostly informed "the community", so if priced rose because of that video series it did so only by selling more stuff to parts of "the community". Whether or not this can even be considered "bad" greatly depends on your idea of ethics.

9 minutes ago, TehStranger said:

I wasn't aware that they've touched on the topic, I don't watch WAN Show.

Well, this meta stuff is usually touched upon on WAN exclusively, so if you want to see their side of things you should look into the episode of the week after the video you disagreed with hit YT

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I would say that we should make the mining method more than cpu and gpu mining. instead of simple calculations, they could make it a rendering based thing. the faster a certain video is rendered, the higher the reward. obviously, there would have to be pools.

 

a pool would work like this:

 

1. a new member would do a benchmark to see how powerful their gpu(s) are

2. the miner is then connected to the central database of the pool, where with the rest of the gpus and cpus, a farm is created.

3. the video is porcessed, and they are rewarded.

 

instead of somebody having to spend a lot of money on a card to render with, they could send in all of the source files, and depending on duration, framerate, and video quality, are charged for the rendering. if a constant supply of videos are being put in, there will always be work to do. with a rendering system, this could help prevent asics from taking over, because graphics cars are for, guess what, producing video.

i like trains 🙂

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38 minutes ago, ChalkChalkson said:

Well, Luke is, Linus (according to himself) doesn't really play anymore, since he is pretty strapped for time.

Wow, that is a harsh statement, and I feel there might be a few things problemetic with this statement. 1: you imply that mining adventure made people buy gaming hardware, but if anything, I think it might have discouraged people from doing so. 2: kind of by definition mining adventure mostly informed "the community", so if priced rose because of that video series it did so only by selling more stuff to parts of "the community". Whether or not this can even be considered "bad" greatly depends on your idea of ethics.

Well, this meta stuff is usually touched upon on WAN exclusively, so if you want to see their side of things you should look into the episode of the week after the video you disagreed with hit YT

Valid points. In retrospect, that was a pretty offensive thing to say, I didn't intend it to be so.

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2 minutes ago, Implosivetech said:

I would say that we should make the mining method more than cpu and gpu mining. instead of simple calculations, they could make it a rendering based thing. the faster a certain video is rendered, the higher the reward. obviously, there would have to be pools.

 

a pool would work like this:

 

1. a new member would do a benchmark to see how powerful their gpu(s) are

2. the miner is then connected to the central database of the pool, where with the rest of the gpus and cpus, a farm is created.

3. the video is porcessed, and they are rewarded.

 

instead of somebody having to spend a lot of money on a card to render with, they could send in all of the source files, and depending on duration, framerate, and video quality, are charged for the rendering. if a constant supply of videos are being put in, there will always be work to do. with a rendering system, this could help prevent asics from taking over, because graphics cars are for, guess what, producing video.

I am not sure if this would work with for a coin and I am relatively sure this would be impractical as a peer to peer renderer, since the data transmission times would be quite large

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1 minute ago, TehStranger said:

Valid points. In retrospect, that was a pretty offensive thing to say, I didn't intend it to be so.

fair enough

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You guys should have a look at Skycoin. It's a solution for the whole Net Neutrality crap going on and it doesn't use GPUs :D Their hardware is sexy AF

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All I care about is if the picture being used for the coins, bitcoin have their images, linus needs one as well, which should fit in with the coin. If it's name is floatcoin it should be him and luke floating in water or similar. Or if they are going with sinkcoin him and luke drowning in water

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Bananacoin tied it's value to a real world item (Bananas), so Floatcoin could do the same. I'd recomend 1/100 of the current average price of 16gb of DDR4.

 

I'm partly joking, but partly not.

Edited by JMSOG
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This is very interesting. Any suggestion as to which algorithm will be used as the framework? Ideally a GPU/CPU focused algo such as CryptoNote.

 

I'm not a huge fan of coins that are ASIC friendly. ASIC leads to centralization, which goes against the general principles of a cryptocurrency/asset.

 

I actually work as an advisor for a cryptocurrency project so I'll be keeping a keen eye on this!

 

A big problem for the tech industry is we focus too much on the technicalities, and give little attention to the adoption and economic models.

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On 2/8/2018 at 6:02 PM, JMSOG said:

Bananacoin tied it's value to a real world item (Bananas), so Floatcoin could do the same. I'd recomend 1/100 of the current average price of 16gb of DDR4.

This could lead to massive losses for LMG and would require limiting sales

1 hour ago, Akima said:

This is very interesting. Any suggestion as to which algorithm will be used as the framework? Ideally a GPU/CPU focused algo such as CryptoNote.

I would suggest Ether, it's well adopted, well tested and has a very good documentation

1 hour ago, Akima said:

A big problem for the tech industry is we focus too much on the technicalities, and give little attention to the adoption and economic models.

The econ is the most interesting thing to me here. The technical details for hash based crypto are interesting, but there is not a lot of depth to it (if you accept that hashing is NP)

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You should call it the 69 coin and sell them for $0.69 or $0.069

Please "Quote" me if you want me to see your response.

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Considering LTT members are usually underage...let's not raise some poor parents bill because their kid burns budget/onboard GPU. I'm down with an LTT/LMG coin existing as forum rewards with goals attached, but if this involves cryptomining, I'm joining Hardware Cannucks' community.

 

 

 

 

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10 minutes ago, Mooshi said:

Considering LTT members are usually underage...let's not raise some poor parents bill because their kid burns budget/onboard GPU. I'm down with an LTT/LMG coin existing as forum rewards with goals attached, but if this involves cryptomining, I'm joining Hardware Cannucks' community.

 

 

Goodbye!

Please "Quote" me if you want me to see your response.

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On 2/8/2018 at 10:02 AM, JMSOG said:

Bananacoin tied it's value to a real world item (Bananas), so Floatcoin could do the same. I'd recomend 1/100 of the current average price of 16gb of DDR4.

 

I'm partly joking, but partly not.

How exactly does that work?

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29 minutes ago, Pangea2017 said:

Bananacoin sounds like a ICO.

My concern/confusion is over the fact that there is no way to tie crypto to anything real without undermining the very core value on which it's built.  It's not like so many of society's other "systems" that rely on people just agreeing to do things a certain way - it's actually mathematically impossible to mess with it, and as such, it exists only in numbers, and can only be tied into another system of equal rigor or it just defeats itself. 

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Can we PLEASE make this coin based on CPU mining? It would help level the playing field for those who can't afford good graphics cards, and plus I don't want to think LTT would be hypocritical and contribute to the GPU mining problem. I know they said this coin was a "just because," but I really want this to be something for the entire tech community rather than those fortunate enough to have amazing hardware budgets.

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15 hours ago, Mooshi said:

Considering LTT members are usually underage...let's not raise some poor parents bill because their kid burns budget/onboard GPU. I'm down with an LTT/LMG coin existing as forum rewards with goals attached, but if this involves cryptomining, I'm joining Hardware Cannucks' community.

How would you have a crypto currency without mining? Prove of work was the really revolutionary thing about the bitcoin paper. Also: I think someone underage buying coins via the parents credit card is more of a "danger", since you really need to try to damage a card via mining

14 hours ago, Ryan_Vickers said:

My concern/confusion is over the fact that there is no way to tie crypto to anything real without undermining the very core value on which it's built.  It's not like so many of society's other "systems" that rely on people just agreeing to do things a certain way - it's actually mathematically impossible to mess with it, and as such, it exists only in numbers, and can only be tied into another system of equal rigor or it just defeats itself. 

Well, there kind of is, read my original post for a suggestion on that. It would be a one way limited gold standard, allowing everyone to cash out, but having the control in the reverse direction limited.

1 hour ago, Andrified said:

Can we PLEASE make this coin based on CPU mining? It would help level the playing field for those who can't afford good graphics cards, and plus I don't want to think LTT would be hypocritical and contribute to the GPU mining problem. I know they said this coin was a "just because," but I really want this to be something for the entire tech community rather than those fortunate enough to have amazing hardware budgets.

TLDR; skip to end

 

I don't think anyone who wouldn't buy a GPU anyways would mine an LTT coin (or at least that the there would be nearly nobody) and I also don't think buying a card for LTT mining specifically would be a sound decision (at least not with my suggestion), so it wouldn't really contribute to the issue. CPU mining also makes the PC borderline unusable while it is running, meaning only people could contribute, who can dedicate a PC to it, or can have their PC running at max CPU load over night. This would be people with either 2  PCs, a very expensive cooling setup, 2 rooms to their disposal. So a lot of the <18 crowd would be locked out and students might be limited (had to have a stock cooled PC running at high load in my room for a while, not fun). So I would think GPU mining might be more egalitarian. Maybe one could do a setup where you mine via the AES instruction set on the chip. Https uses AES however, so https web browsing performance would probably be limited, and I have no idea how windows handles an application requesting one specific instruction that much. But if the single instruction hit works, one could use the built in PRNG to create guess a prime who's xor with a specific number (the difficulty) is 0. That, if written in a very low level language, might be able to run in the background without annoying the user too much. The PRNG and the prime check would take up most of the time, and I don't think that has a lot of overlap with video and web decoding. However the OS level might screw this up a lot. This would essentially be like running Prime95 in the background. I tried that and web stuff still works without much of a problem... except one crash while writing this...

 

So, in short, CPU mining is only really an option when you chose your algorithm wisely, otherwise it would exclude people who can't dedicate a PC to mining or can't keep their PC running in the background. While GPU mining only really inhibits you from playing games, in the worst case you can just have another HDMI cable running from your MoBo to your monitor and switch the input when mining

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