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[ANN] TORUM - SHA3 - Easy minting
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oldambtster

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[ANN] TORUM - SHA3 - Easy minting
« on: February 12, 2015, 01:17:10 pm »

Name: Thorumhaim - Code: TORUM

A small prosporous town in Raaiderland / Oal-dam county, that had 8 gold- and silversmiths and a coinmaster. It disappeared under water in the storm of 1509, while the people of the town were celebrating. It is there were one now can find the Dollard sea in the North-East cost of the Netherlands. It is said that the floor of the sea is made up of Gold coins.

These coins are symbolicly represented by the value of TORUM .

Initial Units Supply:   6'000'000  ( less then 0,0004 percent of total, allready given away. )
Maximal Units Supply:   15'090'000'000'000
Decimals:   3

It's so easy to mint!

Minimal difficulty:   1
Maximum difficulty:   2
Algoritme:   SHA3

Minting data:
nxt.mint.currencyCode=TORUM
nxt.mint.unitsPerMint=*



* Whatever your minting computer can handle.
« Last Edit: March 04, 2015, 03:45:54 pm by oldambtster »
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #1 on: February 13, 2015, 09:17:23 am »

Minting goes nicely, allready 14 18 21 27 29 47 293 400 515 620 Million 2.1 4.2 24 33 40 43 49 54 62 68 72 91 118 121 136 146 155 166 257 338 370 560 630 634 Billion on the market. 8)
« Last Edit: February 16, 2017, 09:09:42 am by oldambtster »
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #2 on: February 13, 2015, 10:31:29 am »

MINT easy in NXT and SuperNet [ Well in Linux anyway.. ]

In the NXT or SuperNet folder open the 'conf' folder.
Open the file called 'nxt-default.properties' in a text editor.

Search for '#### MINT ####' in the text.
Select to 'nxt.mint.stopOnError=false'
Copy the text.

Create a new file in the 'conf' folder called: 'nxt.properties'
Paste the text and safe the file.

Now change accordingly to your needs:

'nxt.mint.serverAddress=' , most of the time you will use: '127.0.0.1'

'nxt.mint.currencyCode=' , for Thor(um)haim you need to fill in: 'TORUM'

'nxt.mint.secretPhrase=' , that is your account phrase... (keep it secret)

'nxt.mint.unitsPerMint=' , TORUM is extremely easy to ment. Give it a high try.

'nxt.mint.initialNonce=0' , It will randomly choose a starting nonce value. ( It's a gamble )

'nxt.mint.threadPoolSize=0' , means one thread per processor core. ( Computer is still usable )

And be sure to set this one to 'true' !

'nxt.mint.isSubmitted=true' , And then you are ready to start minting.

'nxt.mint.stopOnError=false' , well it happens, but let it go on with minting anyway.

That's it, save it and then you'll have to go one folder up, so you are back in the main programm folder for NXT or SuperNet. Here you'll find : mint.bat ( for WinX computers ) and mint.sh ( for LinX and MacX [?] ), just run the right one for your system and watch what happens.

Make sure your NXT or SuperNet server is allready running!

Now, if all goes according to plan, after a while, you'll get your NXT based valuta!

If it takes to long to mint anything then you better lower the 'nxt.mint.unitsPerMint=' value. TORUM is easy SHA3 but Keccak25 Values are harder to mint, start with 1 and double it, until it takes to long.


When you want to mint another NXT based Crypto Value just change 'nxt.mint.unitsPerMint=' in the 'nxt.properties' file in the 'conf' folder. Safe the file and restart mint.bat / mint.sh

Happy minting!
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madmartyk

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #3 on: February 15, 2015, 03:57:51 pm »

Mintable with GPU? or CPU only?
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #4 on: February 15, 2015, 04:24:26 pm »

Mintable with GPU? or CPU only?

Have tried to use the precompiled package NXTmint [ https://nxtforum.org/monetary-system-153/nxtmint-java-minter/ ] which uses GPU. But on my system it failed, I guess due to installed Java version 7, instead of 8. ( Ubuntu GNU Linux )

It is possible to compile NXTmint yourself or use a precompiled package, version 1.5 is the current one. ( The NXTmint addresses are all mentioned in the forum link I put in this reply. )

Usage of NXTmint is straightforward, mostly the same as NXT 'mint'. It is SHA3, so it should get much higher rates then Keccak or Scrypt. With NXT own 'mint' I did manage about 20.000 TORUM on 1 CPU core.

I've seen others mint almost millions of TORUM at a time and I guess that was done with NXTmint.

Good TORUM minting!
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madmartyk

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #5 on: February 15, 2015, 05:38:29 pm »

I tried NXTMint 1.5.  Soon as I turned on GPU, it dies. 
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KrusherPT

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #6 on: February 15, 2015, 05:55:36 pm »

Theres no SHA3 support yet.
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #7 on: February 15, 2015, 07:52:05 pm »

Hope SHA3 support will come soon.
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #8 on: February 15, 2015, 08:17:14 pm »

Hope SHA3 support will come soon.

So do I!!  Also thanks for the TORUM!!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #9 on: February 15, 2015, 08:40:09 pm »

Hope SHA3 support will come soon.

So do I!!  Also thanks for the TORUM!!

You are welcome!
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Daedelus

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #10 on: February 16, 2015, 02:06:44 pm »

Is there a market in TORUM?
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #11 on: February 16, 2015, 02:31:55 pm »

Is there a market in TORUM?

Yes, it is in Exchange. ( If that is what you ment. )
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #12 on: February 16, 2015, 02:40:56 pm »

I guess I meant is there a buy wall to support miners who mint?
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #13 on: February 16, 2015, 03:26:00 pm »

I guess I meant is there a buy wall to support miners who mint?

That concept, of a buy wall to support users who mint, is new to me.
Which means that I probably can state for now, no there is not such a thing for TORUM, as far as I know.
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #14 on: February 16, 2015, 09:35:56 pm »

Minting it & supporting NXT system. Got almost 6 millions in 2 days
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #15 on: February 17, 2015, 07:41:55 am »

Minting it & supporting NXT system. Got almost 6 millions in 2 days
Awesome, another TORUM multimilionair!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #16 on: February 17, 2015, 08:57:24 am »

Minting it, too - got 100 million in 3min with one GPU.

Screenshot (NSFW): https://ottrbutt.com/miner/nxtmintwolf-02172015.png
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #18 on: February 17, 2015, 09:06:36 am »

Screenshot (NSFW): https://ottrbutt.com/miner/nxtmintwolf-02172015.png

FURRY DETECTED :o

I thought that was obvious!

That minter is modified, btw - stock one does 260MH/s.
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #19 on: February 17, 2015, 09:10:00 am »

Minting it, too - got 100 million in 3min with one GPU.

Screenshot (NSFW): https://ottrbutt.com/miner/nxtmintwolf-02172015.png

So you have got SHA3 GPU minting working, great!
Welcome in the TORUM multimilionair section.  :)
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #20 on: February 17, 2015, 09:13:59 am »

Screenshot (NSFW): https://ottrbutt.com/miner/nxtmintwolf-02172015.png

FURRY DETECTED :o

I thought that was obvious!

That minter is modified, btw - stock one does 260MH/s.

Is this available for other minters too?

[ Found it allready... see next reply ]
« Last Edit: February 17, 2015, 09:25:06 am by oldambtster »
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #21 on: February 17, 2015, 09:16:49 am »

NxtMint for GPU SHA3-256 @ GitHub: /ScripterRon/NxtMint
( Now I need to update my Java to version 8 I guess. )
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #22 on: February 17, 2015, 09:44:35 am »

NxtMint for GPU SHA3-256 @ GitHub: /ScripterRon/NxtMint
( Now I need to update my Java to version 8 I guess. )

Is what available for other minters? I'm using the Java NxtMint one - except I modified it.
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #23 on: February 17, 2015, 09:52:25 am »

NxtMint for GPU SHA3-256 @ GitHub: /ScripterRon/NxtMint
( Now I need to update my Java to version 8 I guess. )

Is what available for other minters? I'm using the Java NxtMint one - except I modified it.

Yes I got that, and found the orginal code at GitHub and also noticed that ScripterRon has released NxtMint 1.6 ( https://nxtforum.org/index.php?topic=7723.msg162497#msg162497) .

You managed to almost double the mint speed for SHA3, respect!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #24 on: February 17, 2015, 09:56:07 am »

NxtMint for GPU SHA3-256 @ GitHub: /ScripterRon/NxtMint
( Now I need to update my Java to version 8 I guess. )

Is what available for other minters? I'm using the Java NxtMint one - except I modified it.

Yes I got that, and found the orginal code at GitHub and also noticed that ScripterRon has released NxtMint 1.6 ( https://nxtforum.org/index.php?topic=7723.msg162497#msg162497) .

You managed to almost double the mint speed for SHA3, respect!

Not done yet - it can probably get faster. I more than doubled the Scrypt CPU speed - the GPU version doesn't work on AMD GPUs.
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #25 on: February 17, 2015, 09:59:39 am »

NxtMint for GPU SHA3-256 @ GitHub: /ScripterRon/NxtMint
( Now I need to update my Java to version 8 I guess. )

Is what available for other minters? I'm using the Java NxtMint one - except I modified it.

Yes I got that, and found the orginal code at GitHub and also noticed that ScripterRon has released NxtMint 1.6 ( https://nxtforum.org/index.php?topic=7723.msg162497#msg162497) .

You managed to almost double the mint speed for SHA3, respect!

Not done yet - it can probably get faster. I more than doubled the Scrypt CPU speed - the GPU version doesn't work on AMD GPUs.

The SHA3 does not work on AMD?
Or do you only mean your Scrypt optimized code.
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #26 on: February 17, 2015, 10:05:10 am »

NxtMint for GPU SHA3-256 @ GitHub: /ScripterRon/NxtMint
( Now I need to update my Java to version 8 I guess. )

Is what available for other minters? I'm using the Java NxtMint one - except I modified it.

Yes I got that, and found the orginal code at GitHub and also noticed that ScripterRon has released NxtMint 1.6 ( https://nxtforum.org/index.php?topic=7723.msg162497#msg162497) .

You managed to almost double the mint speed for SHA3, respect!

Not done yet - it can probably get faster. I more than doubled the Scrypt CPU speed - the GPU version doesn't work on AMD GPUs.

The SHA3 does not work on AMD?
Or do you only mean your Scrypt optimized code.

No, the regular code for Scrypt doesn't work on AMD GPUs. I optimized the Scrypt for CPUs.
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #27 on: February 17, 2015, 10:06:46 am »

NxtMint for GPU SHA3-256 @ GitHub: /ScripterRon/NxtMint
( Now I need to update my Java to version 8 I guess. )

Is what available for other minters? I'm using the Java NxtMint one - except I modified it.

Yes I got that, and found the orginal code at GitHub and also noticed that ScripterRon has released NxtMint 1.6 ( https://nxtforum.org/index.php?topic=7723.msg162497#msg162497) .

You managed to almost double the mint speed for SHA3, respect!

Not done yet - it can probably get faster. I more than doubled the Scrypt CPU speed - the GPU version doesn't work on AMD GPUs.

The SHA3 does not work on AMD?
Or do you only mean your Scrypt optimized code.

No, the regular code for Scrypt doesn't work on AMD GPUs. I optimized the Scrypt for CPUs.

Ah IC.
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #28 on: February 17, 2015, 10:48:12 am »

Somebody is gonna be a TORUM multi billionair soon I guess.  8)
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #29 on: February 17, 2015, 11:45:05 am »

We have our first TORUM billionair!

Congratulations!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #30 on: February 17, 2015, 11:55:30 am »

We have our first TORUM billionair!

Congratulations!

I'm gonna be a multi-billionaire, soon :P
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #31 on: February 17, 2015, 11:59:18 am »

We have our first TORUM billionair!

Congratulations!

I'm gonna be a multi-billionaire, soon :P

Yes, I noticed. Congratulations!  8)
Guess you haven't said that sentence to often lately.  ;D
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #32 on: February 17, 2015, 12:00:06 pm »

We have our first TORUM billionair!

Congratulations!

I'm gonna be a multi-billionaire, soon :P

Yes, I noticed. Congratulations!  8)
Guess you haven't said that sentence two often lately.  ;D

Haha, true. I make plenty freelancing, but not that much.
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #33 on: February 17, 2015, 12:13:52 pm »

You want to do a giveaway or something?
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #34 on: February 17, 2015, 12:50:55 pm »

You want to do a giveaway or something?

Here is an award, you can get it at full size at mobypicture.com/user/oldambtster  ;)


Well, I do not have much to give-away right now myself. Have 6 Mil. stashed away, for which I had a kind of crypto puzzle in mind, that would lead to an account for the first one to crack, gets the TORUM.

But haven't gotten so far just yet... ( Kinda low on the NXT too.  :D )
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #35 on: February 17, 2015, 12:56:05 pm »

You want to do a giveaway or something?

Here is an award, you can get it at full size at mobypicture.com/user/oldambtster  ;)


Well, I do not have much to give-away right now myself. Have 6 Mil. stashed away, for which I had a kind of crypto puzzle in mind, that would lead to an account for the first one to crack, gets the TORUM.

But haven't gotten so far just yet... ( Kinda low on the NXT too.  :D )

Haha, thanks - but I meant, I'll fund the giveaway!
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #36 on: February 17, 2015, 01:08:51 pm »

You want to do a giveaway or something?

Here is an award, you can get it at full size at mobypicture.com/user/oldambtster  ;)


Well, I do not have much to give-away right now myself. Have 6 Mil. stashed away, for which I had a kind of crypto puzzle in mind, that would lead to an account for the first one to crack, gets the TORUM.

But haven't gotten so far just yet... ( Kinda low on the NXT too.  :D )

Haha, thanks - but I meant, I'll fund the giveaway!

You are welcome!  ;D

Funding a giveaway is a nice guesture of you!  8)
Any idea how? Game element perhaps?

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #37 on: February 17, 2015, 01:49:50 pm »

You want to do a giveaway or something?

Here is an award, you can get it at full size at mobypicture.com/user/oldambtster  ;)


Well, I do not have much to give-away right now myself. Have 6 Mil. stashed away, for which I had a kind of crypto puzzle in mind, that would lead to an account for the first one to crack, gets the TORUM.

But haven't gotten so far just yet... ( Kinda low on the NXT too.  :D )

Haha, thanks - but I meant, I'll fund the giveaway!

You are welcome!  ;D

Funding a giveaway is a nice guesture of you!  8)
Any idea how? Game element perhaps?

No idea; how about I send you a bunch of TORUM and you figure it out?
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #38 on: February 17, 2015, 02:01:36 pm »

Quote
No idea; how about I send you a bunch of TORUM and you figure it out?

Wait with sending, let me first figure it out.  ;)

I'll get back to you on this, time for some other things now overhere. [PM]
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #39 on: February 18, 2015, 01:16:23 am »

Up to 2 billion already...
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #40 on: February 18, 2015, 07:43:36 am »

And we have another TORUM multi Billionaire!  8)
Congratulations Madmartyk!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #41 on: February 18, 2015, 07:59:34 am »

Need to create some small-change NXT now for Bounty plans... Please do not disturb...  ;D
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #42 on: February 18, 2015, 08:06:12 am »

There are 5 TORUM multi Billionaires currently and one billionaire going towards the second... 8)

TORUM, to boldly go to where no crypto valuta has gone before!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #43 on: February 18, 2015, 08:43:11 am »

Here is a tip to the hat for all those TORUM multi billionaire minters!



Congratulations en keep on minting!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #44 on: February 19, 2015, 02:00:42 am »

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #45 on: February 19, 2015, 10:25:52 am »


Mwoehahaha...  ;)

Don't let Aawstin Poowes faaint aut, or hies faazaa.

[ I'm froom Hollaand isnt daat wierd? ]
 ;D

You are number 1 ex equo Marty!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #46 on: February 19, 2015, 03:14:19 pm »

Oke, have some small NXT change again, so let's play ball!

Have a riddle story about TORUM ready to be used for a give-away... So if anyone wants to sponsor.
I publicate the sponsored amount ( blockchain ) so everybody will be able to see the amount.

The NXT address I will use for the TORUM give-away(s) is: NXT-FF9L-74AS-Z5SV-CKGDZ
« Last Edit: February 19, 2015, 03:16:53 pm by oldambtster »
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #47 on: February 19, 2015, 03:38:16 pm »

If all 15'090'000'000'000 TORUM ᚦ ( Thorn symbol ) have been minted and available at the lowest NXT rate of 0.00001 then this makes it a, virtual, total innitial value of 1.509 Million Euro*. ( A bit more in US Dollar )

Please keep in mind that this is a virtual value, there is no insurance of any kind that TORUM can and will be trade-able in fiated money. It is like collecting stamps, investing in art, or just having fun. The latter is my opinion, otherwise I would have put away more at te beginning anyway, hahaha.

But to give you an idea where it could go, in theory, if you minted TORUM hard recently...

10'000'000 TORUM ~ 100 NXT (Virtual!) ~ 1.00 Euro (Virtual!)*
100'000 TORUM ~ 1 NXT (Virtual!) ~ 0.01 Euro (Virtual!)*

So what would those Multi Billionaire minters have in the meanwhile?
There are two going alongside in a tough race at the 10 Billion plus level...
( I really should have saved more of my own TORUM...  :-\  Ah well, giving mine all away soon.  :D )

Anyhow, you'll support the NXT value by minting MS type Valuta. And maybe you've noticed that you can actually win a raffle, payed in NXT, while minting...

*[ DISCLAIMER ]
There is absolutely no guarantee that any amount of TORUM will ever have some real fiat money value. The figures presented here are purely illustrative and based on the lowest amount of NXT in the exchange at which any MS type Valuta could be traded.
« Last Edit: February 19, 2015, 03:45:53 pm by oldambtster »
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oldambtster

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A bit deeper minting. Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #48 on: February 21, 2015, 01:33:34 pm »

In the pre-post of this post  :D I tried to sketch how the initial value ( still virtual ) of TORUM ᚦ could be seen. It was set at a very low exchange rate of 0.00001 NXT. In effect this would mean 100'000 TORUM for 1 NXT ( about 1 Eurocent. ) This calculates to 10'000'000 TORUM for 100 NXT or ~ 1 Euro. Which would set the maximum supply of TORUM to 1'509'000 Euro.

Currently the available virtual(!*) value, based on the 55+ Billion TORUM available ( http://www.nxtportal.com/currencies/2283314714111119148 ) , would be about 5500 Euro, or 550'000 NXT. This would mean that some minters allready have a large piece of the virtual TORUM pie. And after the first few days of fast minting, thanks to SHA3-256 support in the NXTminter, now things have slowed down. With still 99,6 percent TORUM to be released by minting...

This would be allright in fact for a virtual TORUM based economy, because there is so much pre-calculated that minters can 'only' get 1/10'000 part of per mint, what would come done to: 1.509.000.000 TORUM, calculating virtually(!) to 15'090 NX ~ 150,9 Euro.  This amount of TORUM to mint is extremely high for the standard mint that comes with NXT. ( Allthough I am trying it now, to see, in theory, what happens. ) Because of the large amount of initial TORUM, I have chosen a very low difficulty, which is between 2.0 and 4.0 ( Yes, I know 1  &  2, but it is calculated between 2^1 and 2^2, in ratio with the thus far released TORUM and the maximum. )

The minimum value to mint, I would advice, would be based on the fact that every mint that gets accepted for calculating the right SHA3 Hash costs 1 NXT, or 100'000 TORUM, and you want it to be at least the double of that value. But if you want to go for the (VIRTUAL!*) Euro amount per found SHA3 hash? Then the mint value would be set to 10'100'000 TORUM, taking the NXT payment into account.

If you understand this concept you can calcuate for every mintable NXT Monetary System Crypto Valuta (in short: NMSCV) what would be an ideal mintvalue. Taking in account what your hardware eats in power and how long it will work until you have to buy a new piece of hardware. This, in a way, also gives value to NMSCV's like TORUM.

Because of the very high of maximum amount to be released in TORUM it will still take a lot of GPU minters a long while to get them all ( Estimated about 35 years at minting rate so far. ) But the big difference between so called fiat money and NMSCV's like TORUM is that the latter is locked to a maximum. Even if people would charge interest on TORUM, then it still would be part of the total available TORUM, at that time.

So, NMSCV's, like TORUM, may even have a future, specially if developement of the NXT Monetary System evolves according to plan. In the meanwhile I'm going to see what I can mint per minute on my low-power hardware...

*[ DISCLAIMER ]
There is absolutely no guarantee that any amount of TORUM ᚦ will ever have some real fiat money value. The figures presented here are purely illustrative and based on the lowest amount of NXT in the exchange at which any MS type Valuta could be traded.
« Last Edit: February 25, 2015, 09:09:24 am by oldambtster »
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oldambtster

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To the future! Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #49 on: February 21, 2015, 02:13:58 pm »

NXT Monetary System Crypto Valuta ( in short: NMSCV, no don't you dare create a NMSCV or Asset with that name now, you hear! ;D Well let me do the Gfx, then we talk. ) like BURTO, VNZLA, TORUM ᚦ other mintables alike, may have some doubt for a future. Just like some have doubted the NXT Monetary System ( in short: NMS, no don't you create... ah whatever, go ahead! ) in all. But one should look beyond the current fase it is in. We have only just begun...  ;)

Take a look what the user known as Lyaffe, wrote in the NXT developer JeanLucPicard ( to boldly go... ) his BitBucket:

*
Quote
Limitations
The following functions are not supported in this release but may become supported in the future:
  • Direct exchange between currencies.
  • Buying assets and aliases using currency units.
  • Paying transactions fees as currency units instead of NXT.
  • Considering the proof of work invested in currencies when comparing an NXT fork.
*Source [ https://bitbucket.org/JeanLucPicard/nxt/issue/205 ]

You to scroll down to find it, but, there it is. The issue for enhancement of the NMS that some others and me were looking for.  8)
So it is worth reading the documentation!

And how come that this piece of text defines a future for the NMSCV's like VNZLA, BURTO and TORUM. Well first of all it will make the NMSCV's directly tradeable amongst each other. The NMSCV's can be used to buy Assets and Aliases. Paying transaction fees can be done with NMSCV's instead of NXT only. And there could come some value added to a NMSCV from the invested Proof Of Work linked to a NXT fork.

The NMS is in the early stages of it's developement and the issue for enhancement really hits the right spot. If thus implemented it would make the NXT Blockchain the only current one to consider. And allthough at a certain time in the growth of populariry of NXT, also the amount of NMSCV's will grow, a lot of the last created will disappear within a year. Some even within a few months.

So, hold on to a part of the early created Crypto Valuta of the NXT Money System, while still in the roll-out fase. Because when the future development finally becomes the present, you'll be the first to enjoy it to it's full potential!

NXT is the future of Crypto Valuta and so is everything connected.  8)
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #50 on: March 04, 2015, 03:52:55 pm »

Well, TORUM is not the hottest climber of the day, but it is in the Cryptocoin Charts.

So now the NXT Monetary System is visible at the Cryptocoincharts, thanks to an exchange in TORUM with a marketvalue of about 0,28 BTC.

 8)
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #51 on: March 09, 2015, 09:29:01 pm »

TIP on minting TORUM SHA3, for those Billionaire Minters, who almost cracked the 100 Billion border:
If you have the hashing power available. The limit is 1'509'000'000 ᚦ per mint at the most.

This means a difficulty of 3'018'000'000, until half of all TORUM are minted.
After that difficulty will rise to 7'036'000'000 if you go for the maximum TORUM to mint.

NXTmint Java Minter works great on high end GPU's, it seams. But to get those amounts of TORUM you'll probably need one or more GPU's blasting at least 150MHps... (Yep, that is a wild guess.)

Minting 1'509'000'000 ᚦ at a time is the maximum set by the NXT Monetary System, being 1/10'000st of the total amount of TORUM to be released.

There is one minter who is about to top the 100 Billion TORUM!
It is almost like in Highlander...  :D
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #52 on: March 14, 2015, 10:35:19 am »

How about the intrensic value of TORUM? Since it is not 'claimable', nor does it have any other Monetary System setting, besides that it is mintable. Very easy SHA3 minting that is. So, how can one put an intrensic value on a virtual currency like TORUM?

It's all in the Mint? Well, it would be, for a part.

Some math...
Code: [Select]
Maximal Units Supply:   15'090'000'000'000 ᚦ
That is a lot of TORUM, but allthough it is relative easy to mint, if you have like an AMD 280x or 290x f.e., you can only get a fraction of the total amount to be released. This is set by the NXT Monetary System at 1/10.000th of the maximal supply.

So, if you have the hardware for it and use NXTmint 1.6 ( or higher ) you could mint 1'509'000'000 TORUM within a certain time-frame. Even if your top-notch hardware could do this kind of minting, you'd still need to have 5'000 NXT available to do so, until half the coins have been minted.

After that you need hardware with double the minting power, when you would want to keep up the pace. But still, another 5'000 NXT would be needed at a minimum.

So it is fair to state that 15'090'000'000'000 TORUM at the very least has an intrensic value of 10'000 NXT. This does not consider the real fact that is will be hard to mint in blocks of 1'509'000'000 TORUM at a time. Nor the fact that someday new computer hardware has to replace the current.

A little sidestep...

To compare it to Crypto Valuta with 8 decimals, from a different Blockchain, TORUM 'only' has three, this would compare to 'coins' that will release about 150'900'000[,00.000.000], just a 150 Million if it TORUM had been released on a different Blockchain.

Just to give you a different view on the seemingly extreme amount of TORUM...

Back to the intrensic value of TORUM

Currently the price of 1 TORUM is set to 0,00.001 NXT, which could seem very low, but actually it is not that bad at all. On my energy saving system ( 18 WATT TDP ) I can mint, within a few hours time, about 60 Million TORUM. This is about 8 Euro worth, virtual ( NO GUARANTEE WHAT-SO-EVER ), when calculated at current market prices.

Now, when you have a thousand times that amount, that would be 8000 Euro in Value. If it were sold at the exchanges at that price. Some minters did actually sell TORUM, but to be fair, it is very quiet on the NXT Monetary System Market.

Still in potential, that is virtual ( NO GUARANTEE WHAT-SO-EVER ), 150'900'000 TORUM  * 0,01.249.4 ( EUR / NXT ) = 1'885'344,60 EURO

( Latest price NXT http://coinmarketcap.com/currencies/nxt/ )

Now that is almost 2 million in Euro. But again, that is pure fictional intrensic value, but based on the current, lowest possible, exchange value. ( Now I'm almost sorry I have given away all the preserved TORUM and then some more, hahaha. )

Will it be worth it to go get those TORUM?

Well, Webwallets do not yet support the NXT Monetary System by default. And the best features have yet to be build into the NXT blockchain. Like trading directly in TORUM, or exchanging TORUM for other NMS Crypto Valuta in the Blockchain. That would really hit things off big time. Unfortunately, there is no time-schedule when some of those features will be implemented. So your guess is as good as mine.

Still there are more NXT Monetary System based Crypto Valuta released every day. Some even more loving and hugging than TORUM.  :D

There is a value, it is virtual intrensic set to 0,00.001 NXT per TORUM, and it can be used in some Online Wallet, when you purchase the Module to use it. ( Have only tested one, so far, have to admit. ) But it could be used, allready. One could earn them by listening to my online radio station, for example. ( Read that use of NMS in a comment elsewhere in this forum. )

All it would take is a NXT server running some-where at a mini-computer to make that work, I guess. Purely used for TORUM, in this case. But it will still need NXT to work, that' is a big downside. Allthough that also would give extra value to TORUM, in a sence.

All in all, TORUM has some intrensic value set by the initial exchange price of 0,00.001 NXT, which is virtual and has no guarantee what-so-ever, it is minimal but could still create a market of about 2 million Dollar, a bit less in Euro. And when the needed Monetary System exchange additions have been programmed into the NXT blockchain it could really take off.

So, hold on to your TORUM for now, the best is yet to come...
« Last Edit: March 14, 2015, 10:41:13 am by oldambtster »
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #53 on: April 01, 2015, 07:36:34 am »

Almost 300 billion TORUM have been minted at the moment of writing. Not much news from the Monetary System in NXT. The best is yet to come. The decentraliced exchange, what could be done NXT?

Today is the ideal day to get some attention for TORUM, so a Tweet was send that the municipality of Oldambt will use the TORUM as its own crypto valuta. The first in the Netherlands to do so! And maybe even on a global scale...

Now, before you get all over excited, look at today's date...  ;D

Happy minting TORUM and have a nice eastern!
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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #54 on: June 28, 2016, 09:14:03 am »

It has been more that 120 days, allready? Well, yes, I still want to post in here.  :P

TORUM ᚦallready made it to 630 billion mined, this is just a small piece of the current pie of 15 trillion. So there is still some to go, but why should anyone want to?

It looked like the Monetary System was a cool idea, but at the current level not very promising for the future. And then came the announcement of Ardor, or NXT 2.0! Now this could be the NXT big thing, really, because it would mean that TORUM ᚦ will get it's own childchain. And, even more important, TORUM ᚦcould be traded freely within the Ardor system.

Maybe not be over excited, but something really big seems to be happening at the NXT developement with the arrival of Ardor...

For TORUM ᚦ this would mean liberation of the current chain. Almost can't wait for the future to happen...
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Graphical designer by profession, geek by nature. Has been WinX system administrator, now happy Linux user. Hobby programmer in PureBasic. Webadmin and copywriter. Also father and husband living at the North-east coast of the Netherlands. There were we live the easy life in a healthy environment.

coinTEr

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #55 on: July 14, 2016, 05:22:09 am »

Thanks for the update.

I still hold some TORUM and will follow its way.
Maybe Ardor brings life back to all the monetary system coins...
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oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #56 on: July 14, 2016, 08:02:36 am »

Thanks for the update.

I still hold some TORUM and will follow its way.
Maybe Ardor brings life back to all the monetary system coins...

Think that Ardor will completely release the Monetary System through the side/sibling/childchains. It is going to be exciting as far as I can imagine the implications. Blockchain 3.0 it is, because Ether was 2.0 and it, well, let's say I have more gut feeling about things like Bitshares/Steem and NXT/Ardor... These are to change the way we go about using the Blockchain technology.

In my humble opinion...  :D

Good to have you aboard!
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Graphical designer by profession, geek by nature. Has been WinX system administrator, now happy Linux user. Hobby programmer in PureBasic. Webadmin and copywriter. Also father and husband living at the North-east coast of the Netherlands. There were we live the easy life in a healthy environment.

oldambtster

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #57 on: February 16, 2017, 09:06:00 am »

Hi Torum minter,

Well, it has been a while, but it seems TORUM ᚦ can still be minted the easy way. Difficulty has gone to 2, meaning you need to MHashes in double the amount of the TORUM ᚦ you want to get per NXT spend.

About 634 billion TORUM ᚦ have been minted so far, so still a lot to get!  8)

Have a great day!



How will it be at the Ardor chain?
« Last Edit: February 16, 2017, 09:10:54 am by oldambtster »
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Graphical designer by profession, geek by nature. Has been WinX system administrator, now happy Linux user. Hobby programmer in PureBasic. Webadmin and copywriter. Also father and husband living at the North-east coast of the Netherlands. There were we live the easy life in a healthy environment.

wicket

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #58 on: July 05, 2017, 08:30:56 pm »

Torum minting has cost me 8 nxt for 80 torum!  >:(

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Bik_z19

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Re: [ANN] TORUM - SHA3 - Easy minting
« Reply #59 on: July 06, 2017, 11:35:09 am »

Torum minting has cost me 8 nxt for 80 torum!  >:(

Make your
Code: [Select]
nxt.mint.unitsPerMintvalue higher! Don't know  what the difficulty is nowadays, but I think you can do a lot better than 10 per mint :)
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