So yesterday, ZiftrCoin had it's official release. For anyone who doesn't know what they are or why they are any different from doge or dark or any other coin out there, here's why: https://www.ziftrcoin.com/what-is-ziftrcoin/
The cool thing about mining this currency is that it will not allow ASIC mining, and it will be limited to GPU mining. While this won't prevent people from creating massive GPU mining farms, it will at least keep the mining (theoretically) still profitable for single and double GPU miners.
For the first couple of weeks they are allowing CPU mining only to get the Network's hashrate to a certain point. I started mining them a few hours ago and nothing was happening but within the last 30 minutes I mined 2 blocks (~8 coins, ~8 dollars). You can mine straight from the wallet, which you can get here: https://www.ziftrcoin.com
So is anyone else excited to see how these turn out? Is anyone else mining them?
Edit: Spelling Error.
I've been using my spare PC to mine for shits and giggles. I'm not sure where this cryptocurrency is going? But, it's always good to catch these things early. If it takes off, I expect people to come at it with powerful GPU arrays. Before APIC mining, these were the dominant mining system and pushed up the cost and lowered the availability of gamer gpu's.
I wonder if there is going to be a bubble. If people get excited it might be nice to jump on it for a while.
I've got my laptop playing with it. If Ziftr actually pushes this to be usable at brick and mortar shops or at least a large number of online shops it could take off, but until people have a place to spend it these type of things won't take off. Early adopters are not the norm.
Hey thanks for the post, I hadn't heard of these before.... can't get any easier than this - guess I'll give it a try and see what happens!
So I'm using the wallet to mine and it doesn't seem to be utilizing my GPU's (they're not spinning up) but rather only the CPU (running about 60%).
Anybody know how to get the mining to utilize the GPU's?
Now, I like that they're putting in the effort to make this a retailer-friendly coin, but from my experience almost all new coins are measured in worth relative to Bitcoins. It's not easy to legitimize a cryptocurrency, and most that are released barely reach fractions of a cent per coin in worth.
Maybe I'll be proven wrong, maybe I'm just too jaded towards cryptocurrencies, maybe I'm just as salty as the ocean because I lost a wallet that had 15 Bitcoins in it that I mined extremely early on.
The world may never know.
As I said in my post, for the first couple of weeks they are doing CPU mining only, to get the networks collective hashrate to a certain point. :)
Well, my W520 has mined me 3.74093 ZRC so far. It will be interesting to see if it takes off. Admittedly, I don't expect it to. As I said before unless they can get retailers to accept it, it will never go mainstream.
Ah right - got it!
So, I have a 4770k clocked at 4.2Ghz and I'm mining at 50%... I'm getting around 250-300 kH/s (15-16 hours between blocks).... does that seem right?
Just want to make sure I'm doing things correctly.... I'll leave it running overnight and see what happens by morning.
Definitely giving this a try. Thanks!
This can look promising if it takes off. I'll give it a try, and who knows... It could be worth a lot one day.
Anyone have this running on Linux yet? As a linux noob I have no idea what to do.
The way it works, a block is given out every one minute. I came up with this formula based on some numbers I had so you can change the numbers to suit you and find out for yourself:
Basically if I have a hashrate of 360 KH/s (or 360000 H/S) and the network hashrate is 177 MH/s (or 177000000 H/s) and 360000 is ~0.2% of 177000000 then I have a ~0.2% chance of finding a block each time one is given out witch is every one minute.
So yeah it's not like a "loading, please wait" that you will complete and then restart as a cycle, it's random, and the higher your hashrate relative to the network's collective hashrate the higher your chance of being awarded the block.
Hmmm, I honestly wouldn't know what to do either. If I would you I would go to the ZiftrCoin reddit and ask there. It's frequented by more than one of the devs :)
i have 3.767 ziftr coins lol
I just downloaded it and ran it. It's pretty simple - there's no install to do, as it's portable, so you'll have to figure out how to put it in the application menu yourself, but getting it up and running is surprisingly easy. The Qt client works great out of the box.
I might be totally newb-wrecking this, but you can download the package, extract it, run the -qt client, go to the mining tab and hit a button to make money. It's probably smart to encrypt your wallet before you start, though.
No way it's that easy... I'm checking now...
I just installed it on my desk and laptop. I will see if I get anything over the next week.
It was super easy though.
aaand it totally was.. Again, linux noob. Thanks!