Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
FAQ/Troubleshooting
This is divided into two sections. The first is technical help, the second is coin supply.
1) Technical Help
Cryptonite is a completely new crypto: The Bitcoin code was seriously altered and vetted over a 4 month period. Partly because of this, setting up the client may involve a little extra work over any bitcoin fork or shitcoin. Consider that 1. It has an entirely different balance-sheet system 2. It only retains the blockchain for the past 7 days, and 3. It has a lot of completely new features, like withdrawal limits/unmalleable transactions/0-confirm transactions, when you're about to complain that you couldn't get it to work in 5 seconds.
Installation
Download directories(These are the most up-to-date, OP is not always accurate):
http://gpile.it/mbc/ For latest Linux Binaries and Windows daemon/qt
http://gpile.it/mbctest/ If you're feeling adventurous, latest test versions
Source(same as OP):
https://github.com/MiniblockchainProject/Cryptonite/
Please backup your wallet, as well as Bitcoin/other client wallets before installing Cryptonite.
Linux Ubuntu 14.04 (Trusty) / Ubuntu 13.10 (Saucy)
These are all the commands I used to get binaries running on Ubuntu 14.04
Configuring system:
Copy bitcoin repository and update, add additional necessary dependencies:
Installing(Note, change the Trusty file version below to most up-to-date):
Linux from Source:
(Courtesy of marada, a few posts below)
Install dependencies & compilation dependencies:
** use your distribution package tool or compile dependencies from sources
If everything goes right you will find your qt wallet here:
~/Cryptonite/src/qt/cryptonite-qt
By default cryptonite-qt is compiled as shared library so you may need to launch from the terminal. Optionally install as system package:
** you need at least 1,2 GB of disk space. 4 GB+ and 4+ cores CPU is recommended for compilation.
Windows 7(64 bit):
Download latest qt from http://gpile.it/mbc/
Run, enjoy
Find the wallet directory: Go to Start -> run explorer %APPDATA%\Cryptonite
Want to solomine? Go to help, Debug, enter 'setgenerate true -1'
Other useful commands in Debug window:
'getmininginfo' will tell you some stuff
'getinfo' will tell you other stuff
'setgenerate false' to stop mining
Windows 8 or 8.1:
Probably not a good idea. There have been lots of reported issues with Win 8, and the client wasn't tested at all for Windows 8. However, bitfreak may be working on a web wallet, so this might be an option if you can't get another OS anytime soon.
Windows 32bit:
No versions out for 32bit yet, and likely not out for a long time, if ever.
Other Troubleshooting
Trouble Syncing?
Enter in console: ./cryptonited addnode seed.gpile.it onetry
Keep trying that command until it finds one. Cryptonited does this by default, but just really slowly.
Error sending XCN:
XCN must have 10 decimal places and an 'ep' sign at the end, ie:
./cryptonited sendtoaddress mvqH4czVQg2HdGpkV7PWVZJpRXVwLnMXpN "30.0100000000ep"
http://cryptonite.info/wiki/index.php?title=Cryptonite_API#A_note_about_EP_amounts
2) Coin Supply Help
Before you go apeshit over 1.8 Billion coins, high inflation, "not what we're used to", etc, consider that maybe the devs made a very conscious decision in distributing Cryptonite this way. Instead of insta-complaining, really think about how it might be appropriate for this coin in particular. For one, if they really wanted to make it unfair for you, they would have created an instamine, instead of one of the fairest and slowest distributions ever.
Can we see a graph of the distribution rate?
Sure. Here's the equation too, distributed coins = (2^64 - ((1 - 24310 * 10^8 / (2^64))^(1440*365.25*years) * 2^64)) / 10^10
Supply in Numbers:
After 1 month: ~11 Million
After 3 months: ~ 32 Million
After 1 year: ~ 123 Million
After 2 years: ~ 240 Million
After 10 years: ~ 920 Million
How does the block reward change over time?
See bitfreak's post a few posts after this one.
Didn't some guy(s) get almost 20% of the coins over the first week?
Looks like it. This isn't an instamine though. 20% of the first week's coins mean nothing. After 1 month, that's less than 5% of supply, and after 3 months it's close to 1% of supply. Part of the goal of the very even and slow distribution rate was to protect from just this. Invariably, there will be big players at different times mining lots of coins, just like with Litecoin and Bitcoin. Like both of those coins though, there's plenty more to be mined!
That's too much dilution. (I want more of an instamine)
If you're looking to get rich quick by buying really cheap instamined coins and selling in a few months when supply is dried up, you should look for other coins that are structured like this. Lots of dilution is not really a bad thing for a quality coin. A large chunk of fresh coins everyday provides liquidity, which greatly lowers variance and increases long-term stability and incentive for miners, who keep the network safe.
There's no room for investors, only the miners get rich!
Not really. Cryptonite is similar to the distribution of Bitcoin or Litecoin, only even slower. Bitcoin and Litecoin have the two largest market caps today. If you bought either at the beginning though, you weren't getting rich in a couple months. Cryptonite has a similar distribution, and therefore, likely a similar long-term investor strategy. There is certainly huge room for investment. You are betting that Cryptonite will get popular and mining costs/coin price will go up over time. Will it go up in the instamined coin sense, where there is suddenly no supply? No! The devs weren't greedy mofo's with a 3 month timeline like most other shitcoins out there.
There are too many coins! 1.84 Billion?
Seriously guys, if you divide by 100, the numbers will look very familiar to you. Second, the number of coins has nothing to do with distrubution nor fairness.
The difficulty is way too high. There must be a GPU already.
Go on Amazon Web Services and check out what kind of hash power you can get. You will find that you can easily get 500 MH/sec of hashpower on there. Most of the mining so far has probably been done on there in fact. If you were at home, mining solo with just your laptop, your chances of finding a block are quite a bit slimmer than those with 1000 nodes on AWS. Yesterday, there were 8000 nodes on 1GH.com. That could easily be 100% CPUs. Having said that, catia is working on a GPU miner which should be released soon.
Other Good Resources
There's an entire wiki explaining in detail, the what and why:
http://cryptonite.info/wiki/index.php?title=Main_Page
Join us on IRC #Cryptonite
This coin is highly experimental and could use some quality support. If you consider for a moment the effort going into developing this, it might be humbling to worry about something other than the price and how good of a deal you can get. The developers are releasing new updates everyday and constantly improving the clients, but there's a lot more work that can be done. Please, if this guide answers your questions and you still want to partake, consider also helping out, or donate. When you realize how fair the distribution is(as impossible as that seems amidst a sea of shit scams out there), consider that maybe these devs are worth trusting.
This is divided into two sections. The first is technical help, the second is coin supply.
1) Technical Help
Cryptonite is a completely new crypto: The Bitcoin code was seriously altered and vetted over a 4 month period. Partly because of this, setting up the client may involve a little extra work over any bitcoin fork or shitcoin. Consider that 1. It has an entirely different balance-sheet system 2. It only retains the blockchain for the past 7 days, and 3. It has a lot of completely new features, like withdrawal limits/unmalleable transactions/0-confirm transactions, when you're about to complain that you couldn't get it to work in 5 seconds.
Installation
Download directories(These are the most up-to-date, OP is not always accurate):
http://gpile.it/mbc/ For latest Linux Binaries and Windows daemon/qt
http://gpile.it/mbctest/ If you're feeling adventurous, latest test versions
Source(same as OP):
https://github.com/MiniblockchainProject/Cryptonite/
Please backup your wallet, as well as Bitcoin/other client wallets before installing Cryptonite.
Linux Ubuntu 14.04 (Trusty) / Ubuntu 13.10 (Saucy)
These are all the commands I used to get binaries running on Ubuntu 14.04
Configuring system:
Copy bitcoin repository and update, add additional necessary dependencies:
Code:
sudo add-apt-repository ppa:bitcoin/bitcoin
sudo apt-get update
sudo apt-get install libboost-all-dev libdb4.8-dev libdb4.8++-dev libminiupnpc-dev libqt4-dev libprotobuf-dev protobuf-compiler libgmp-dev
apt-get install git ntp make g++ gcc autoconf cpp ngrep iftop sysstat
sudo apt-get update
sudo apt-get install libboost-all-dev libdb4.8-dev libdb4.8++-dev libminiupnpc-dev libqt4-dev libprotobuf-dev protobuf-compiler libgmp-dev
apt-get install git ntp make g++ gcc autoconf cpp ngrep iftop sysstat
Installing(Note, change the Trusty file version below to most up-to-date):
Code:
sudo su -
wget "gpile.it/mbc/trusty_amd64_cryptonited_14072401" -O cryptonited
chmod +x ./cryptonited
mkdir ~/.cryptonite
cat > ~/.cryptonite/cryptonite.conf << EOF
#----
rpcuser=rpcuser
rpcpassword=rpcpwabcdef
EOF
./cryptonited
wget "gpile.it/mbc/trusty_amd64_cryptonited_14072401" -O cryptonited
chmod +x ./cryptonited
mkdir ~/.cryptonite
cat > ~/.cryptonite/cryptonite.conf << EOF
#----
rpcuser=rpcuser
rpcpassword=rpcpwabcdef
EOF
./cryptonited
Linux from Source:
(Courtesy of marada, a few posts below)
Install dependencies & compilation dependencies:
Code:
sudo apt-get update
sudo apt-get install libboost1.55-all-dev build-essential libdb++-dev g++ libminiupnpc-dev libqt4-dev libprotobuf-dev libgmp-dev
* use your favourite versions of librariessudo apt-get install libboost1.55-all-dev build-essential libdb++-dev g++ libminiupnpc-dev libqt4-dev libprotobuf-dev libgmp-dev
** use your distribution package tool or compile dependencies from sources
Code:
git clone https://github.com/MiniblockchainProject/Cryptonite/
cd Cryptonite
./autogen.sh
./configure --with-incompatible-bdb --with-gui
* proposed options, use ./configure --help to get more optionscd Cryptonite
./autogen.sh
./configure --with-incompatible-bdb --with-gui
Code:
./make -j
* where is the number of threads/cores you wish to useIf everything goes right you will find your qt wallet here:
~/Cryptonite/src/qt/cryptonite-qt
By default cryptonite-qt is compiled as shared library so you may need to launch from the terminal. Optionally install as system package:
Code:
sudo make install
* in case of distroes based on apt.** you need at least 1,2 GB of disk space. 4 GB+ and 4+ cores CPU is recommended for compilation.
Windows 7(64 bit):
Download latest qt from http://gpile.it/mbc/
Run, enjoy
Find the wallet directory: Go to Start -> run explorer %APPDATA%\Cryptonite
Want to solomine? Go to help, Debug, enter 'setgenerate true -1'
Other useful commands in Debug window:
'getmininginfo' will tell you some stuff
'getinfo' will tell you other stuff
'setgenerate false' to stop mining
Windows 8 or 8.1:
Probably not a good idea. There have been lots of reported issues with Win 8, and the client wasn't tested at all for Windows 8. However, bitfreak may be working on a web wallet, so this might be an option if you can't get another OS anytime soon.
Windows 32bit:
No versions out for 32bit yet, and likely not out for a long time, if ever.
Other Troubleshooting
Trouble Syncing?
Enter in console: ./cryptonited addnode seed.gpile.it onetry
Keep trying that command until it finds one. Cryptonited does this by default, but just really slowly.
Error sending XCN:
XCN must have 10 decimal places and an 'ep' sign at the end, ie:
./cryptonited sendtoaddress mvqH4czVQg2HdGpkV7PWVZJpRXVwLnMXpN "30.0100000000ep"
http://cryptonite.info/wiki/index.php?title=Cryptonite_API#A_note_about_EP_amounts
2) Coin Supply Help
Before you go apeshit over 1.8 Billion coins, high inflation, "not what we're used to", etc, consider that maybe the devs made a very conscious decision in distributing Cryptonite this way. Instead of insta-complaining, really think about how it might be appropriate for this coin in particular. For one, if they really wanted to make it unfair for you, they would have created an instamine, instead of one of the fairest and slowest distributions ever.
Can we see a graph of the distribution rate?
Sure. Here's the equation too, distributed coins = (2^64 - ((1 - 24310 * 10^8 / (2^64))^(1440*365.25*years) * 2^64)) / 10^10
Supply in Numbers:
After 1 month: ~11 Million
After 3 months: ~ 32 Million
After 1 year: ~ 123 Million
After 2 years: ~ 240 Million
After 10 years: ~ 920 Million
How does the block reward change over time?
See bitfreak's post a few posts after this one.
Didn't some guy(s) get almost 20% of the coins over the first week?
Looks like it. This isn't an instamine though. 20% of the first week's coins mean nothing. After 1 month, that's less than 5% of supply, and after 3 months it's close to 1% of supply. Part of the goal of the very even and slow distribution rate was to protect from just this. Invariably, there will be big players at different times mining lots of coins, just like with Litecoin and Bitcoin. Like both of those coins though, there's plenty more to be mined!
That's too much dilution. (I want more of an instamine)
If you're looking to get rich quick by buying really cheap instamined coins and selling in a few months when supply is dried up, you should look for other coins that are structured like this. Lots of dilution is not really a bad thing for a quality coin. A large chunk of fresh coins everyday provides liquidity, which greatly lowers variance and increases long-term stability and incentive for miners, who keep the network safe.
There's no room for investors, only the miners get rich!
Not really. Cryptonite is similar to the distribution of Bitcoin or Litecoin, only even slower. Bitcoin and Litecoin have the two largest market caps today. If you bought either at the beginning though, you weren't getting rich in a couple months. Cryptonite has a similar distribution, and therefore, likely a similar long-term investor strategy. There is certainly huge room for investment. You are betting that Cryptonite will get popular and mining costs/coin price will go up over time. Will it go up in the instamined coin sense, where there is suddenly no supply? No! The devs weren't greedy mofo's with a 3 month timeline like most other shitcoins out there.
There are too many coins! 1.84 Billion?
Seriously guys, if you divide by 100, the numbers will look very familiar to you. Second, the number of coins has nothing to do with distrubution nor fairness.
The difficulty is way too high. There must be a GPU already.
Go on Amazon Web Services and check out what kind of hash power you can get. You will find that you can easily get 500 MH/sec of hashpower on there. Most of the mining so far has probably been done on there in fact. If you were at home, mining solo with just your laptop, your chances of finding a block are quite a bit slimmer than those with 1000 nodes on AWS. Yesterday, there were 8000 nodes on 1GH.com. That could easily be 100% CPUs. Having said that, catia is working on a GPU miner which should be released soon.
Other Good Resources
There's an entire wiki explaining in detail, the what and why:
http://cryptonite.info/wiki/index.php?title=Main_Page
Join us on IRC #Cryptonite
This coin is highly experimental and could use some quality support. If you consider for a moment the effort going into developing this, it might be humbling to worry about something other than the price and how good of a deal you can get. The developers are releasing new updates everyday and constantly improving the clients, but there's a lot more work that can be done. Please, if this guide answers your questions and you still want to partake, consider also helping out, or donate. When you realize how fair the distribution is(as impossible as that seems amidst a sea of shit scams out there), consider that maybe these devs are worth trusting.
Thank you for the excellent breakdown! I'd like to raise an issue apart from the specs, however, that's currently presenting a real challenge for this coin, which is the fallout from yesterday's failure to meet most people's expectation of a Bittrex add. Clearly, it's placed downward pressure on price.
As this turn of events was so surprising to so many of us, I'd like to solicit input, particularly from the developer, as to why this occurred, and what steps are being taken to get the coin onto Bittrex.
Thanks.