FAQ
Contents
- 1 Coin launch / structure
- 1.1 Why is RVN any better than <insert coin here>?
- 1.2 Are there Masternodes?
- 1.3 When is the ICO?
- 1.4 Was it pre-mined?
- 1.5 The devs should do <insert topic here> / Why aren't the devs doing <insert topic here>?
- 1.6 How come some people have 100,000's if it wasn't premined?
- 1.7 What's the max supply?
- 1.8 What's the halving rate?
- 2 Trading Questions
- 3 Mining
- 4 Community type questions
- 5 How do I do <topic here> with the wallet?
Coin launch / structure
Why is RVN any better than <insert coin here>?
Some thoughts about the potential future direction of RVN have been captured in The Fenton Files (I'd personally really recommend a read through of that to help understand the background)
Are there Masternodes?
No.
When is the ICO?
There isn't going to be an ICO. Ravencoin is a fair launch, open source project focused on building good code with a good use-case.
Was it pre-mined?
No - it was announced on twitter and discussed at a few meetups prior to that. There's a timeline of some of the events here
The devs should do <insert topic here> / Why aren't the devs doing <insert topic here>?
This is an open source project. You can do whatever you want with it. Read The Fenton Files for more thoughts about the coin. The devs are focused on the code development inline with the roadmap. Members of the community can build tools and websites around the coin that they think could be useful.
How come some people have 100,000's if it wasn't premined?
There were people that started when difficulty was well under 100 rather than where it is now. Some people rented hundreds of cloud CPU's to mine it before the GPU miner software was developed for the community. Some have still have huge gpu rigs pointed at pools. All coins in circulation have been generated the same way, fair mining.
What's the max supply?
21 billion
What's the halving rate?
The same as bitcoin so every 4 years or so. 2100000 blocks (1block / min * 60mins * 24hrs * 365 days * 4yrs)
Trading Questions
When will RVN be on an exchange?
It's on a decentralized exchange: https://wallet.crypto-bridge.org/market/BRIDGE.RVN_BRIDGE.BTC
When will RVN be on more / better exchanges?
At the time of writing: when the exchanges decide to list it, or someone pays to list it. It's an open source project so anyone can pay for it's listing on any exchange, however, the general consensus at moment is to wait until the technology of the coin is further developed.
What's the going rate for RVN?
Check the crypto-bridge link above.
Mining
How do I mine Ravencoin?
At a high level:
- Read the getting started article: virtopia.ca
- Download the wallet from github, install and get a receiving address
- Select a pool from the pools list
- Download the miner software, edit the config to include the pool you want to mine on, and enter your wallet address for payment and run.
There is more detail on the mining page, including links to the opensource mining software for both nVidia and AMD cards.
Can I mine with my CPU / CPU or GPU mining which is better?
Yes you can mine with your CPU however you're unlikely to earn many Ravencoin. The net hash is now pretty large so a single CPU isn't going to contribute much. Obviously, if you've got a lot of CPU's or high-end ones you many earn more. Generally, people are running GPU's in one of the Pools.
What hash rate should be be getting for my cards?
Which pool is best?
All the Pools are pretty good, and as with most things tech they all have issues from time to time. On average you'll get a larger share of fewer blocks with the smaller pools and a smaller share of more blocks with the larger pools. There are support channels for most of the pools on discord. The pools can be compared here.
Why is the difficulty going up / down?
The network tries to maintain 1 block being solved per minute over 2016 blocks before retargeting difficulty. If miners have found more than 1 block per minute during the previous 2016 blocks the network difficulty will go up to bring the average block time back to 1 per minute. If miners are solving blocks slower the opposite will happen.
Community type questions
The community page links to a lot of the resources available.
What's the link for Ravencoin Community Discord?
How do I do <topic here> with the wallet?
Many questions about the wallet can be answered by searching the same question for the Bitcoin wallet. The Bitcoin wiki and Bitcoin on StackOverflow are two great resources which might already have answers to your question.
where is the wallet.dat file?
https://en.bitcoin.it/wiki/Data_directory
