Hey everyone, here's the NUGS wallet address for donations to support our bounty. Appreciate any help you can give!
NUGS Wallet #:
TBD
Alright, so we're officially launching Nuggets. I'm curious to see how the VGB protocol performs once we integrate it into the coin.
Let me break down what VGB is all about. The idea here is to give smaller miners a better shot at success, at least on a percentage basis.
We're talking about Net Present Value (NPV) from accounting, plus another principle called Accelerated Cash-Flows.
Initially, I thought about having a 21-year coin, but then I realized the government probably wouldn't allow it to run that long. So why let all those coins sit unused until later when we could distribute them to miners now?
Just doubling the coin supply wouldn't really change the game, so I had to come up with a fresh way to increase the coin count while making mining more engaging. Let's face it, mining high-difficulty coins can feel pretty dull and rewarding zero excitement.
That's when I created the VGB concept (yeah, I had to name it after myself), which stands for Vlad's Golden Block.
What I did was take the last 14 years' worth of coins, around 309 million coins, and move them to the front end of the cycle. So now it’s a 7-year coin. Instead of just tripling the coins available, I organized them into 12 daily blocks called Vlad Golden Blocks, where anyone mining can benefit, regardless of their mining power.
iv read this 3 times and still dont get how a small time miner is better off
not sure if i want to hug that NUG or stare at it for a while and walk away
typo "but helps the little buy the most."
Big miners will win the VGB lottery proportionally more than small miners. This doesn't benefit the small miners more. Neither does having a shorter coin generation time with more coins.
EDIT: Quoting my page 8 post for visibility:
Apparently it's because if you mine, you'll randomly get a block that has a larger reward than usual. But I don't see how this helps to serve to protect the network at all, and these random erratic rewards won't help with trust. Also yeah, you still have to mine the block, so I don't see how a small miner can mine it if it's hard to mine the blocks.
So at what point does the information needed to predict whether the next block will be a lottery winner come into existence, and how big a miner relatively would you have to be to maybe even not bother submitting non-winners unless something in the non-winner decides whether a winner becomes possible next up?
-MarkM-
LMAO, Yeah he just helped the big miners in a HUGE way. LOL. Since a big miner will usually hit a far larger % of the blocks. Oh well, guess it's like hitting the lottery for the small miners. And a regular jackpot for the big guys. Good job getting it launched. Now I hope you can work on the business aspect of the coin, and make your 0.5% worth something. Lol, I'n not mad you premined. Just the way you handled yourself while trying to sell it to everyone.
Get your programmer to set up a pool for you, and charge 2% there. Then you will get an even bigger part of the pie, and no one will complain about it.
Edit: Or did I misread that??? Is this giving to a miner randomly if they found a block or not, just that they were mining?
LOL people like stevenlam are about to have 12 million coins the first day when they snag these 12 rewards worth 10,000 each
This is the idea you've been hyping for the last two days? Looks like we gave you way too much credit...
It looks like you can easily tell whether the next block will be a lottery winner. Big miners can simply mine other coins constantly, and when they detect a lottery winner is coming up, switch to mining this for a block. Brilliantly helping the large miners!
yeah, sure... a coin for small miners..... i have a radeon hd 6670 ddr3 (about 100khs scrypt mining) on my daily use computer, and still answer myself how i can compite with a 2000khs mining rig??
PS: meanwhile i write this, a diotonic found 21 blocks and i still nothing found..... a coin for small miners? sure!!
So VGB is just obfuscatese for superblock, nothing new here just another superblock crapcoin pump and dump?
How many milliseconds between blocks so far?
-MarkM-