PR_Dave

More info here

http://www.wankcoin.com/

You can start mining now and one key aspect, it will be accepted as payment across our network of paysites.

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xXXtesy10

edgeprod

Got a pool set up?

Alex1776

What what?

AllAboutCams

Whats the bitcointalk thread?

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PR_Dave

Of course

https://pool.wankcoin.com/index.php

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PR_Dave

Launching to the industry first.

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edgeprod

Oh fuck, I just saw it's SHA-256. Best of luck with it, Dave!

PR_Dave

Indeed, lot's of sha-256 mining gear available cheap these days.

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edgeprod

Yes, but if you want an ASIC war, I sadly can't contribute. I'm geared up for large-scale Scrypt-N. The "approachable by the common man" theme of Scrypt (and now Scrypt-N) is what organized the impressive community behind Dogecoin. You can make a run of it yourself without strong community backing, but SHA-256, by its arms-race attributes, isolates and divides.

Not poo-pooing by any stretch, and I don't want to derail the thread, it's just that SHA-256 has had its days, and I've moved on. I'm just sad I can't mine the crap out of this to help you out.

Are you aware that someone is squatting the Reddit subreddit for Wankcoin? I hope it's you guys.

AllAboutCams

Edit: whats the premine? i can see you are on block 30,632 if im right 1,531,600 coin already?

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L-Pink

Named for success.

edgeprod

People are splitting off of caring so deeply about pre-mine, it seems. Essentially, the closer to a "socialist" technology (Momentum, CPU-based algorithms, etc), the more people seem to care. With SHA-256 being the exact opposite, I think it'll be acceptable to people as a means of transacting a service, not as an "investment" like so many people are treating the other coins. Tie it to a financial incentive -- burn $20 of electricity, get $60 of membership paid for, and it's a good offer. The secondary market may not be as strong, but being able to transact commerce out the gate will stifle the outcry about pre-mining, optimally.

GAMEFINEST

good luck with it

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Compound interest.

rowan

I have a couple of SHA256 ASICs still, and occasionally review what I'm mining, but there's not really much point since most of the SHA256 altcoins align to Bitcoin's value... there is little difference between mining the alt and converting to BTC, or mining BTC directly. I have found a couple of obscure SHA256 coins which have higher value, but the volume is so low that it's impractical to make any decent profits.

edgeprod

Sadly, that's the result of the ASIC density and distribution. Remember, though, that these coins predominantly don't have a value beyond a speculative investment. Amazon isn't taking ButtFuckCoin as a payment. With Dave and PimpRoll getting out in front of this and taking a risk, they're explicitly declaring that WankCoin has a value: to purchase membership access to their network of sites. This gives it a pegged (known) value, and should somewhat stabilize the currency. Once you can exchange it for membership, the value is linked intrinsically.

kittykatt

I think my odds are better with titcoin

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srockhard

the promo is funnier than titcoin so I laughed for a minute

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darksoul

no source code ?
no thanks

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rowan

That's a good point. Hopefully it's the start of something big!

Dave, you really need to release source.

Markul

That intro video made me lol, well done

PornDiscounts-V

Porn for teh win

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PR_Dave

This is a pre-launch. Giving people in the industry a chance to mine before the public.

Unlike 99% of other coins we will be setting a price for each out the gates. X # of WNC will get you access to our sites. Trading on platforms like Cryptsy will be just around the corner.

BTW - Scrypt based ASIC's are out now so it makes no difference. We have 5 300MH machines from KNC miner, as an example.

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AllAboutCams

Anyone could mine this if it was scrypt with any home pc but you have made it so people need to buy equipment.

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PR_Dave

The equipment you would "have" to buy is cheaper then a standard GPU.

Currently with little competition you can mine on your PC.

With Scrypt based ASIC's available now everyone is saying GPU mining is dead.

Some more examples here, an R9 290x will run you $6-700 and if you are lucky will only push 900kh. This will cost you $199 and will push 1.2Mh: http://zoomhash.com/collections/top-...s-1-26mh-s-45w

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edgeprod

You may need to stop listening to whatever is advising you on this topic, sadly. I won't address your points because I don't want it to turn into a technical whine -- and I want to support your launch -- but you might consider putting together an advisory panel sooner than later. If you're listening to one voice here, that may not be giving you the whole picture.

PR_Dave

Sadly, no one is "advising" me. I have been mining BTC for awhile (50TH) and recently have been mining scrypt based coins (1500 MH). I am a hardware guy, always have been. It's fun.

WC was modeled after BTC for a reason. If you don't have the appropriate setup to mine while there is little to no competition, no big deal.

People get lost in the GPU every man setup vs. ASIC.

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TampaToker

Any bounty's up for grabs?

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edgeprod

I didn't mean it was a someONE, I thought maybe it was a particular website, etc. The views you were expressing about GPU vs. ASIC and how it applied to Scrypt (without mentioning Scrypt-N) is what led me to that conclusion; sorry if it was in error.

I'm not concerned about my personal mining capability -- I was just offering my considering hardware to aid your cause (bigger pools look better). I'm on the other side (Scrypt-N), so my machines won't have much effect on SHA-256, as you know.

I guess I misunderstood your intent. I'm sure you have some slick master plan up your sleeve, and I'd love to hear a bit more about it if you'll be in New Orleans.

rowan

Noticed yesterday it was on an exchange:

https://www.allcoin.com/trade/wkc_btc

If PR_Dave has 50TH of hashing power on this I guess there's no point even trying to mine it...

rowan

Trying to build wankcoin from source fails - leveldb/ has no Makefile.

Can you tell me the current difficulty so I can determine if it's worth pursuing this? Thanks.

mineistaken

Finally someone from GFY did it, I was advocating for creating GFYcoin (wankcoin would do, lol) for a while

PR_Dave

There is plenty of time to mine. Join any of the pools.

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rowan

Difficulty?

ilnjscb

Please peg coins to your membership with a defined increase in value over time
create and float a mainstream version with a fixed convert out but variable back in
grant a fixed number of coins to merchants who sign up and stay for X months
Create a daily rated content submission spot price for rated quality content submitted to your sites

ReggieDurango

Can't understand!!
Where're periods and commas?