Monday, December 16, 2013

Adventures in Alternative Cryptocurrency: Frozencoin (FZ)

Last week I got curious about Hashco.ws and did some testing, but as I was investigating whether or not the Hashcows multipool was better than mining LTC (verdict still pending), I got sidetracked by Quark. My testing of Quark quickly confirmed what others have said: it's mined out. 246 million QRK are now out in the wild, and going forward there will only be 1 million QRK per year. That seems short-sighted, but the people that held them until last week likely made a ton of money! Then in the midst of looking at Quark, I found a new coin called Frozen.

Frozen uses the same algorithm as Quark, which makes it more resistant to GPU and ASIC mining (for now at least), and since I have about 20 largely idle CPUs around I thought it would be interesting to mine some FZ and see if I could make any money off of it. The short story: absolutely! The long story? I'm not quite so sure where FZ is going in the coming months.

It's basically Quark 2.0, with only 7.777 million coins (instead of 250 million), plus a guaranteed 1 FZ reward per block minimum (~1051920 FZ per year after the initial mining, corresponding to one block worth 1 FZ per 30 seconds). What that means is that like QRK, when FZ is done, it's not really done... and I'm not sure that's a good thing, as it appears FZ will also be mined out in around six months? But if the value is high enough perhaps the 1 million FZ per year perpetually will be useful.

There's a site for Frozen, but it's in the process of being migrated to a new server (supposedly), which makes trading the coin a bit more difficult. (Update: Trading Forum is back!) The mining difficulty has spiked up ten-fold since I started, which means it's no longer giving me a 5X return relative to LTC mining, but I did get about 10LTC per day in trades several days last week. Thankfully, I also sold the LTC when it was going for $30, but we'll be back to $30+ again -- some day soon, hopefully, but if not then it will still happen.

Okay, back to Frozen. Let's say you want to mine it, since you have some rigs with GPUs and you could do FZ on the CPU still without really impacting performance (though it would use more power). The steps for getting Frozen mining going are pretty simple.
  1. Download the CPU miner and/or Smolen's GPU Smelter. Quad-core i7 will do around 800KHash/sec, while smelter will take 10% of coins to give to the developer. Smelter does 1400-1500KHash/sec on 7950/7970, 2000-2500KHash/sec on 5850/5870 and 6950/6970. (Apparently the developer doesn't have any GCN hardware, so it's not optimized for AMD's newer cards, at least not yet.)
  2. Download the Frozen-QT client, run it once and exit, and then edit Frozen.conf in:
    C:\Users\[Username]\AppData\Roaming\Frozen (mine is below for reference, or included in the chain snapshot).
  3. Now run Frozen-QT again and it should update the block chain and you're ready. (I've got a snap-shot of the chain as of 12/16/2013 available to help get you going faster). The conf file I provided has most of the settings needed to solo mine, including setting rpcthreads (the number of clients that can connect) to 40.
  4. Start mining, with either solo or pooled mining. CPU clients use the following command for the pool, replacing the address with your FZ address from the client:
    minerd64_sse4 -a quark -t 8 -o http://fz.mine-pool.net:9372 -u FTKf7WumfNRJA94frNsSJiudFJhvcGYH3t -p x
    For solo CPU mining, you can run:
    minerd64_sse4 -a quark -t 8 -o http://[Your IP]:18450 -u user -p pass
  5. For GPU mining, it's not possible to use a pool, so you have to do solo with smelter (again, swap in your own FZ address):
    smelter -o http://[Your IP]:18450 -u user -p pass -w 64 -g 2 -i 100 -a FA5Q97XuGzszbpNgGUjUWveTPGiJ9NnzR5
  6. You might need to open up ports 18450/18451 in your firewall, or at least tell the firewall to let traffic through when it prompts (if you're on Windows).
And that's pretty much it; you can sit back and mine Frozencoin. But there's the question: how much is Frozen worth? It's not on any exchanges yet, so you have to trade with people manually. You also need to figure out how much you're willing to accept. I've seen a lot sold at 1 LTC per 1000 FZ, but that may be too low -- or FZ could collapse and no one would want it, but that can happen potentially to any cryptocurrency. If FZ ends up equaling QRK (Quarkcoin), it could be worth $0.10 per coin. Since there are only 7,777,777 FZ (plus ~1 million per year), it should be worth quite a bit more in theory. Time will tell. In the meantime, the difficulty is still reasonably low, so you could mine a few thousand in a week and hold them for the future. Enjoy!

Donations in FZ: F8sGbVmiepUAmVQA3foaW2t4jP2a8sHYKo

Frozen.conf:
rpcuser=user
rpcpassword=pass
rpcport=18450
port=18451
testnet=0
rpcallowip=127.0.0.1
rpcallowip=192.168.1.*
rpcthreads=40
listen=1
daemon=1
server=1
gen=0
addnode=192.241.200.142
addnode=71.84.113.165
addnode=75.142.224.140
addnode=75.166.71.201
addnode=84.249.109.128
addnode=98.214.94.227
addnode=98.242.20.240
addnode=87.119.221.84
addnode=78.128.6.26
addnode=5.9.44.164
addnode=84.238.225.19
addnode=86.100.125.187
addnode=176.215.214.89
addnode=95.85.21.252
addnode=106.187.41.6
addnode=50.201.141.6
addnode=71.84.113.165
addnode=75.142.224.140
addnode=75.166.71.201
addnode=84.249.109.128
addnode=98.214.94.227
addnode=98.242.20.240
addnode=137.117.216.239
addnode=137.117.218.209
addnode=139.190.255.127
addnode=162.242.223.73
addnode=174.100.51.46
addnode=194.68.104.18
addnode=218.74.37.218
addnode=222.126.164.66

23 comments:

  1. Hi Jarred

    Very nice, anwsered all my questions.

    Will start mining Frozen with CPU this evening. Do you recommend stop mining LTC for a few days and point all the GPU's to Frozen too?

    Keep it up

    Seeme

    ReplyDelete
    Replies
    1. The smelter.exe program for GPU mining seems to be having difficulty on many GPUs at the increased difficulty. On 5850/5870 and 6950/6970 it's good, but 7900 and R9 GPUs aren't worthwhile -- about 1.5MHash vs. 2.3MHash. So leave newer GPUs on LTC, possibly switch older to FZ for a week or two.

      Delete
    2. Ok, i use two times R9 290x and finally got the ultimate config with your help! Yay!
      So i will mine FZ with CPU and continue mining LTC with my 290ies
      Thanks again for your helpful threads, soon I will open a Blog on cryptocoins too and will referlink to your page.

      Delete
  2. As stupid as it may sound, I've been mining Dogecoin for the past 4 days and trading them immediately. With a 4 GPU rig, I've been making about 4 - 7 litecoin a day (in trading). It's going down, but it's still better than anything else out there right now. Exchange is a pain in the butt though. It can't handle the load very well right now.

    ReplyDelete
    Replies
    1. I was going to but then started FZ instead. But yeah, the nerds are having a lot of fun with Dogecoin.

      Delete
  3. Dear Jarred

    I know this question is not relating to this topic, but may you could throw me a bone. I've started mining with a single Sapphire 290x and I am running now 2x Sapphire 290x with a 850W PSU. I use your excellent config tipps, and reach ~940kh/s on Windows 8.1 64x with cgminer.
    As i attached the second 290x and startet the cgminer with the same config I am using for 1x 290x it all worked perfectly fine. I had two times ~940kh/s. But only for +/- 5-10 minutes, then the screen turnes black but the fans continue spinning just with lower speed Temp never goes higher than 91C with fans at 75%.
    As mentioned above I use 850W PSU and as hardware: ASUS P6TDeluxe v2, i7, ssd, 12gb ram, as I owned this PC before starting to mine.
    I tryed lower the memclock and somehow got both of them running quite stable. Do you think my PSU has not engouht watt? Or what would be your idea. Do you need further informations?
    It would be very kind if you find the time to anweser this question.

    Many thanks again

    Luca

    ReplyDelete
    Replies
    1. GPUs have some variance, so it's likely that one GPU is able to do the settings for 940KHash and the other is only able to get ~900 or something. You can specify difference clocks for the two GPUs so that each runs optimally.

      Delete
    2. Thank you for your fast anwser Jarred.
      Ok I understood that, but I do not have issues with reaching the deliberate hash rate. The problem is, that the screen turns black after mining with both GPU's in one cgminer session. And the fans are still spinning but the mining process stopped i think. So my question is why does it work stable with one 290x but not with two 290x? Have you may got an idea?

      Delete
    3. i've tried to underclock the second GPU from 1025 to 985 i think, but the same effect, aber 5-10 minutes the screen turns black.. Also if i run it with lower memclock, the hash rate decreases but it has the same issue mentioned above. I can run both of the cards stable if i run them in single mode (with the same clock) but only if i want to run both he gives up...
      Im kind uf at the end of my ideas, thats why im contacting you.

      Delete
    4. Hey Jarred, I have now tried for another 3 hours to get it running. My conclution is that it does not matter wich clocks i specify for the GPU's. If I run both together, black Screen appears after few minutes.. If i run them single i reach 940kh/s without any crashing..
      What would you say? PSU? Motherboard?

      Thank you

      Luca

      Delete
    5. PSU is definitely a possibility if both run individually at 940 and it's only if they run together that you have issues, but you're right that it could also be the motherboard. If you have a spare PSU around, use that for the two PEG connectors and then jump-start the PSU (use a paperclip to short the green wire on pin-4 to a black wire). That way you're only drawing ~450W from the main PSU and you can pull the other 200-250W from the secondary PSU. If you run stable, then you have your answer: you need a better PSU.

      Delete
    6. Ok, I'll try that. Much appreciate for the help. I will keep you in touch.

      So i use the 850W as it is for my motherboard and e.x a 450W spare PSU jump-started for the PEG connectors?

      Delete
    7. Yeah, that should work. You'd end up drawing around 200-250W from the secondary PSU (over an 8-pin and 6-pin PEG).

      Delete
    8. I've tried to use a 350W as secondary PSU on one of the GPU's. The PSU and the GPU fan started to spin but it hasnt reacted as i started to mine..
      Maybe 350W is not enought as spare PSU. I may just buy a 1300W as main PSU..

      Delete
  4. Jarred, where do find info about new and upcoming coins, i seem to always miss the boat and jump in to late. Its becoming harder to mine LTC and im always trying to look for something else to mine early.
    I have 3 r9 290's mining LTC and im looking into getting a 4th card for testing other currencies, what would you recommend to mind with the hardware above.

    thanks

    ReplyDelete
    Replies
    1. You can always look here and see if there's anything useful:
      https://bitcointalk.org/index.php?board=67.0

      Delete
  5. What's the time estimate for solo mining with FZ? Worth doing or should one do pool mining instead?

    ReplyDelete
    Replies
    1. Pools are much more consistent. With fifteen or so mixed CPUs (some laptops, some desktops) running FZ calcs (while the GPUs are doing scrypt) I'm getting about 500-1000 FZ per day through pools. My house is warm, my office is noisy, but my BTC balance is looking good!

      Delete
  6. I've been using fz.mine-pool.net for few days. One thing I'm not sure about, is why there are "holes" in payouts lasting few hours sometimes when miner was active all that time. See here: http://fz.mine-pool.net/address/FR3CbiKdXcT94pfCzZKnXKZRMqoCNJdgep

    ReplyDelete
    Replies
    1. It's the nature of the game: even a pool is still subject to luck/variance -- just not as much provided they have enough hashing power relative to the total network hashing power (like 5% minimum). If you solo mine, you can get lucky and find a block in the first few minutes, or maybe not for days. A pool with 100X as much hashing power can find a block in seconds or sometimes hours.

      Delete
  7. Dear Jarred

    Are you still mining Frozens? Did you notice that the page is down since a while?
    I'm a bit curious since the trading forum dissapeard, did you find any other trading platforms / forums for frozen coins?

    Happy new Year!

    Luca

    ReplyDelete
    Replies
    1. Frozencoin.org was going through some rebuilding and the main page was AWOL, but the forums are still there:
      http://frozencoin.org/forum/index.php?action=forum

      I think the main page is now working, though.

      Delete
    2. BTW Frozen has blown up, I had 5k I sold a week or so ago and regret it (I know I know can't look back) its doing very well now. Continue CPU mining it if you can!

      Delete