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Mincoin Block Confirmations


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#1 dcwsco

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Posted 17 October 2013 - 03:44 PM

Just a quick question. 

 

How many confirmations does it take for a block to become valid and payout? It seems to be different amounts?

 

Thanks

 

- David


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#2 necom

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Posted 17 October 2013 - 03:58 PM

Just a quick question. 

 

How many confirmations does it take for a block to become valid and payout? It seems to be different amounts?

 

Thanks

 

- David

I think it's 6 confirmations.  You can check your wallet on the "transactions" tab/page.  There's an icon to the left of the transaction line that shows the current state of the transaction.  Hover your mouse over that icon and it shows the current status -- "3 of 6 confirmations" or whatever the wording is.

 

When it's fully confirmed, you'll see a green check mark icon.



#3 dcwsco

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Posted 17 October 2013 - 04:01 PM

I think that differs from finding a block.

For BTC, LTC & FTC it is 120 confirmations required. It seems to be a lot less for MNC but I can't find any info on the exact number.

 

- David


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#4 sdf

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Posted 17 October 2013 - 04:12 PM

I think that differs from finding a block.

For BTC, LTC & FTC it is 120 confirmations required. It seems to be a lot less for MNC but I can't find any info on the exact number.

 

- David

 

MinCoin (MNC) - a minimalist version of Bitcoin optimized for CPU mining using scrypt as a proof of work scheme. MinCoin is bronze to Bitcoin gold

  • Only 10 million coins total will be generated
  • 1 minute block targets for ultra fast transactions
  • To encourage early adoption block values for first 3 days are :- 500 MNC, 100 MNC, 50 MNC
  • After first 3 days block value will be 2 MNC per block until all coins mined which will take roughly 10 years

The rest is the same as bitcoin.

  • 720 blocks to retarget difficulty (half a day)

 

 

 

I assume that Sandy Cohen didn't touch it. I wish I knew someone familiar with bitcoin code that could point you in the direction of where these specifications are stored. If you have skype, I would be happy to put you in contact with someone who might know



#5 necom

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Posted 17 October 2013 - 04:30 PM

I think that differs from finding a block.

For BTC, LTC & FTC it is 120 confirmations required. It seems to be a lot less for MNC but I can't find any info on the exact number.

It's not very many confirmations. I've mined a lot of these puppies and it doesn't take very long to show up in the wallet... I don't remember the specific number though. It sure seems like no more than 6 though.



#6 necom

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Posted 17 October 2013 - 04:32 PM

  • 720 blocks to retarget difficulty (half a day)

Actually, in late May, the big update at 75k blocks changed this diff re-target to just 60 blocks.  This has had a fantastic effect on hashrate/difficulty stability on the network.  Worked like a charm.

 

If 720 retarget is still posted in details somewhere, that needs to be changed. 



#7 prospector

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Posted 17 October 2013 - 09:10 PM

I assume that Sandy Cohen didn't touch it. I wish I knew someone familiar with bitcoin code that could point you in the direction of where these specifications are stored. If you have skype, I would be happy to put you in contact with someone who might know

 

 

Will the real Sandy Cohen please stand up, I want to congratulate you on a great coin.


Blue Horseshoe loves Mincoin!

#8 clamps

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Posted 19 October 2013 - 04:05 AM

are there many solo miners on mnc ?



#9 necom

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Posted 25 October 2013 - 11:19 PM

are there many solo miners on mnc ?

Not so many these days, I think. I used to solo it a lot and knew a couple others.  Lately the diffs are typically over 4-6 all the time, creeping into the 8's & 9's.  It's making soloing a bit rough, especially for only 2 coin block reward.  



#10 Noctis

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Posted 26 October 2013 - 01:41 AM

Good to know, evit panic haha



#11 jellyfish420

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Posted 28 October 2013 - 12:16 AM

being a small time miner, solo mining ANY coin is pointless for me...



#12 Scrat

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Posted 30 October 2013 - 06:14 PM

How I would like to have a decent machine :(



#13 Razzler

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Posted 30 October 2013 - 10:33 PM

Good option to the pro miners, much easier than btc! :D



#14 Lishoplays

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Posted 01 November 2013 - 08:37 AM

Less impossible than bitcoin, at least.


#15 001sonkit

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Posted 04 November 2013 - 09:59 AM

Seems the return rate of Mincoin is quite aligned with LTC, I'll watch and see if getting on will be nice






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