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Jamaican Bobsledders Ride Dogecoin Into Olympics

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Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#21

Post by maaku »

jjsz wrote: post #6
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Highly recommend multipool.

Highly discourage using multipool and ilk if you care at all about the coins you are mining. The hash-n-dash behavior of these pools overwhelm a chain with hash power causing difficult adjustments upwards, then disappear as quickly as the come leaving the network high and dry with hours or days between blocks. Coins have been destroyed this way.

Heck, even if you don't care about the underlying coins, it's simply not as profitable (because you decrease the value of the coins you mine before you even have a chance to sell them).

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#22

Post by lappa »

steveklabnik wrote: post #17
tlrobinson wrote: post #10

Earlier quoted context omitted.

That's great, but I get the feeling Dogecoin users are even less informed about the technology than the average Bitcoin user. I wonder how many understand why Dogecoin in it's current state (like Bitcoin) can't scale to support widespread usage of micropayments? There are two problems: 1. The protocol limits the maximum block size to 1MB ( https://github.com/dogecoin/dogecoin/blob/master-1.5/src/mai... ) which puts D…

The community has already dealt successfully with one fork due to a bug. I'm sure the same thing can happen in the future if there are problems. In many ways, Dogecoin is 'worse is better.'

You would call that successfully? The developers have no idea what they're doing. They copied bitcoins code, but didn't realize that they made a 500 million doge transaction limit, so they gave their users a short period of time to update their clients. They ended up with a fork after someone made a 500 million doge tx which could have allowed many many doublespends. Doge will not be able to scale up to real economic activity unless they get a real dev team.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#23

Post by steveklabnik »

lappa wrote: post #22
steveklabnik wrote: post #17

Earlier quoted context omitted.

The community has already dealt successfully with one fork due to a bug. I'm sure the same thing can happen in the future if there are problems. In many ways, Dogecoin is 'worse is better.'

You would call that successfully? The developers have no idea what they're doing. They copied bitcoins code, but didn't realize that they made a 500 million doge transaction limit, so they gave their users a short period of time to update their clients. They ended up with a fork after someone made a 500 million doge tx which could have allowed many many doublespends. Doge will not be able to scale up to real economic…

> You would call that successfully?

There was a problem, and now it's not a problem. Seems like a success to me.

> The developers have no idea what they're doing.

Luckily, that doesn't actually matter. Frankly, if they knew what they were doing, Dogecoin probably wouldn't even exist in the first place.

> Doge will not be able to scale up to real economic activity unless they get a real dev team.

Last I checked, DOGE had a higher total transaction volume than all other cryptocurrencies put together, sooooooooo

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#25

Post by dublinben »

lappa wrote: post #22
steveklabnik wrote: post #17

Earlier quoted context omitted.

The community has already dealt successfully with one fork due to a bug. I'm sure the same thing can happen in the future if there are problems. In many ways, Dogecoin is 'worse is better.'

You would call that successfully? The developers have no idea what they're doing. They copied bitcoins code, but didn't realize that they made a 500 million doge transaction limit, so they gave their users a short period of time to update their clients. They ended up with a fork after someone made a 500 million doge tx which could have allowed many many doublespends. Doge will not be able to scale up to real economic…

>They copied bitcoins code

They copied the code to Litecoin. At least get your facts straight.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#26

Post by tlrobinson »

lappa wrote: post #22
steveklabnik wrote: post #17

Earlier quoted context omitted.

The community has already dealt successfully with one fork due to a bug. I'm sure the same thing can happen in the future if there are problems. In many ways, Dogecoin is 'worse is better.'

You would call that successfully? The developers have no idea what they're doing. They copied bitcoins code, but didn't realize that they made a 500 million doge transaction limit, so they gave their users a short period of time to update their clients. They ended up with a fork after someone made a 500 million doge tx which could have allowed many many doublespends. Doge will not be able to scale up to real economic…

To be fair, Bitcoin experienced a hard fork last year too.

That said, I agree Dogecoin's dev team talent is non-existent compared to Bitcoin's, but to some extent they can just copy everything Bitcoin/Litecoin does, for now.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#27

Post by tlrobinson »

steveklabnik wrote: post #23
lappa wrote: post #22

Earlier quoted context omitted.

You would call that successfully? The developers have no idea what they're doing. They copied bitcoins code, but didn't realize that they made a 500 million doge transaction limit, so they gave their users a short period of time to update their clients. They ended up with a fork after someone made a 500 million doge tx which could have allowed many many doublespends. Doge will not be able to scale up to real economic…

> You would call that successfully? There was a problem, and now it's not a problem. Seems like a success to me. > The developers have no idea what they're doing. Luckily, that doesn't actually matter. Frankly, if they knew what they were doing, Dogecoin probably wouldn't even exist in the first place. > Doge will not be able to scale up to real economic activity unless they get a real dev team. Last I checked, DOGE…

I'm still very skeptical of Dogecoin's transaction volume. I ran some numbers last week and still haven't heard a decent explanation: https://www.quora.com/Dogecoin/Where-is-the-currently-massiv...

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#28

Post by Rebelgecko »

JoshTriplett wrote: post #7
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Is CPU mining still remotely sensible to do at this point? Also, what's the recommended client for CPU mining on Linux at this point?

Mining on all four cores of my CPU with CPUminer gets me about 80 kh/s, while mining on my GPU gets me about 270 kh/s. The GPU also uses about twice as much electricity when it's mining, so the CPU isn't completely terrible in comparison (although my CPU gets a lot hotter while mining, and the fans get a lot louder). However, I have an Nvidia GPU, which is less good at mining than an otherwise comparable AMD GPU. With an AMD GPU the disparity would be a few times greater.

CPU mining isn't really profitable unless you don't have to pay for electricity. I just do it because it's more fun than using a space heater for warmth.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#29

Post by benajnim »

dublinben wrote: post #25
lappa wrote: post #22

Earlier quoted context omitted.

You would call that successfully? The developers have no idea what they're doing. They copied bitcoins code, but didn't realize that they made a 500 million doge transaction limit, so they gave their users a short period of time to update their clients. They ended up with a fork after someone made a 500 million doge tx which could have allowed many many doublespends. Doge will not be able to scale up to real economic…

>They copied bitcoins code They copied the code to Litecoin. At least get your facts straight.

Just to clarify some of the facts.

Dogecoin uses scrypt like litecoin, but this proof of work was first used by Tenebrix. It also employs the random block reward (vs fixed for litecoin) pioneered by LotteryTickets (which includes the ongoing 10k block reward feature). I'm not exactly sure which repo it was started from, but the wallet client, namely the 1.5 release inherits all Litecoin updates since 0.6.*.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#30

Post by tlrobinson »

benajnim wrote: post #29
dublinben wrote: post #25

Earlier quoted context omitted.

>They copied bitcoins code They copied the code to Litecoin. At least get your facts straight.

Just to clarify some of the facts. Dogecoin uses scrypt like litecoin, but this proof of work was first used by Tenebrix. It also employs the random block reward (vs fixed for litecoin) pioneered by LotteryTickets (which includes the ongoing 10k block reward feature). I'm not exactly sure which repo it was started from, but the wallet client, namely the 1.5 release inherits all Litecoin updates since 0.6.*.

"Pioneered"? Is there any advantage to random rewards, besides novelty?
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