Bitcoin Forum

This new miners' coin should be ready to launch tomorrow.  So I expect a launch tomorrow night.


Here are some detail and more will come as its finished:

1) 49 coins at 70 seconds - Scrypt: PoS, I'm told PoW is included.  Sorry, I fought the miners hard for Sha256 so you could kill it with a 51% attack if you felt the need.

2) Original Plan 21 years - ro be discusses later.

3) Total Shares approx 440,000,00 (Hard Capped)

4) Difficulty Retarget average of the trailing 21 blocks
    This should allow for some oscillation but not much, just enough to make things a bit
    Exciting while discouraging pool jumpers

5) Premine 1% - hence not all bounties etc., will come from community donations

6) Premined 1% - the whole thing will go to bounties etc and the coins will be given out to trustworthy people for accountability.

7) No Instamine

8) VGB Protocol - Never before seen or heard feature which should help the smaller miners while                            
Launch of the Nuggets Coin, a Scrypt coin, against my wishes, but as wished by the prevailing wishes of the miners will take place hopefully tomorrow evening as the coin is mostly ready.

We need a coin face, a logo to donate one.  Sorry, the coins I set aside for things like bounties were voted down. But I'm sure this community will pitch in if its a decent design.

The remaining details will be given out hours before launch for competitive reasons.  49 blocks at 70 seconds intervals for a fast coin while still stable was my best guess.  I originally wanted 21 years but modified the term and combined it with other economic and finance theories and principles of which you will find out I'm detail right before launch.

This is in no way a pump and dump.  I own no shares yet I'm the founder, this must be the new communist trend.  This coin was made with the purpose of the miner in mind first and foremost.  This coin should benefit the miners more than any other coin, and this will be more evident once the VGB Protocol is explained.

Wish everyone the best and look forward to an exact date and time.

Good much to everyone and God bless!

http://www.rovingjay.com/wp-content/uploads/2012/08/crash-and-burn-money.jpg

VGB - Variable Gimmicky Bonus

A currency built for the sole stated purpose of benefiting the money printers is missing the point and/or reeks of scam.

Vlad2Vlad, the Coin Developah, helpin' out da little miners!!

http://theunboundedspirit.com/wp-content/uploads/2012/06/money-greedy1.jpg

There's no money printers here, it's all digital but I get your point
Money printers or banks are part of any Eco system so they can't be excluded.one has to look at the greater good if there is one and choose that which benefits the most at any given point in time.

Good luck!

I haven't participated in a launch for the last 15 or so coins...kinda miss the chaos...so I might give this one a whirl for some kicks.

Would be nice to have a launch time (even if it is approximate).

What is the starting difficulty?

-MarkM-

good luck

lol, careful he might get all defensive about his money grab.

Money for the sake of making money! And that's it...

I will join this coin when launch

suggest NGT instead of NUGs

https://i.imgur.com/JEwkh8ll.jpg

NUGs.

Does .25 Sound right, mark?

But the VGB will likely throw everyitnng for a massive fucking loop.

I hate cursing but now I'm pissed.

There's no way to predict how VGB will react in this experiement.  It's an unknown variable never used before. It's a financial instrument mixed in with this mess.

I fully expect others to spin off VBG for their own coins.  It makes mining more fun and rewarding although depending on the outcome it may turn out to be a mess.

I'm gonna pay a second programmer to look it over once its done to see if it can be refined.  I don't want it to go haywire.

Difficulty is going to skyrocket really quickly, won't that push out small miners, and favor the bigger miners? What's the max diff adjustment for this coin? 400%?
I'm sorry that they suckered you into doing this coin, with nothing for yourself to build it with. Unless you pay out of your own pocket, it will be days before someone sets a pool up for it, if anyone does one at all. You need a pre mine, you need coins, to pay people to set services up quickly. With such a rapidly increasing difficulty, it is paramount that you get a pool set up, ASAP, or it will fizzle and die.
I wish you luck though, man, its a noble idea

+1 well said. almost sounds like he tried to copy me economic principals and apply it to a POS coin.

After talking to the programmer he said no matter what I do people will bitch.

So he said this:  premine 1%, keep half for yourself and put In a wallet so people see you're not dumping it.

Then use the other half of 1% to do do exactly what you said, set bounties for pool, exchanges, etc.

So that's the way it's gonna be.  Look at all the assholes on here even after I said zero premine.  Nothing but hating boneheads.

So I will give away half my 1% right away for anyone who wants to set a pool, exchange and such.

And don't worry about the high difficulty.  The VGB protocol will really help level the playing field for the little guy.  As much as possible.

If these closed minded haters had let me premine 5% or 10% I could have made this coin a killer coin.  Now it's gonna take forever.  Sad, truly sad.

That's exactly want I did because this is money.  What better way to make a better coin than to apply economics and finance to it.  Wait and see, if this executes probably, if it was programmed right then it's gonna be beautiful for the little miner but for everyone else too.

Since when is a clonecoin something that needs to be built up by the developer? If it does take off in popularity, the lack of pre-mine isn't an issue because it's popular. If it doesn't take off in popularity, then he can mine legitimately and pay people with his monopoly money to advertise his coin if he wants.

+1

If the coin is as good as advertised, there will be a race to set up a pool as the first pool gets all the hashes and will rake in the fees.  No bounty needed in this case.  Popular coin will get community support, a la DGC (zero premine) and all bounties come from dev pockets and community donations.

-tb-

well thats the point of open source. i'm glad you found my ideas useful and i'm anxiously awaiting this coin. grant me a sneak peak at the vgb protocol??

I wish you all the luck in the world :)

I would love to but if it leaks I'm screwed - surprise is the little thing I've got left to get people to want to mine this coin. 

ah, no prob. this will be an ooen or closed source release?

I'm sorry, did you say I copied your economic principles?  Or your ideas?  I have no ideas what ideas were yours.  I asked on an open forum for ideas to make the miners coin something they would want but as for the economic VGB protocol I thought if that out of thin air cause it made sense.  Cause I wished it existed when I was hopelessly trying to mine a POS litecoin.  Such a protocol would have given me a chance and made mining litecoin more fun.

What's even the point of a miner's coin?

I love DGC, and it was a noble thing you did, paying all that out of your own pocket. But, it shouldn't have to come out of your own pocket. A Dev fund should be premined. Use it all for development and promotion, if you wish. People say, oh, they should just mine it like everyone else. But what they don't understand, is everything they mine, goes towards their own personal gain, while a coin, with no premine, the dev has to invest everything they mine, back into the coin, to make it successful, and, they have to pay their power bill, out of their own pocket. At the very least, Dev fund should be premined, and any coins the dev mines, should rightful be his, to hold or profit from, or what ever, just like everyone else who is mining it. Any one who disagrees, well, I don't really cate.

no, the way you describe your coin led me to believe you might have read my theory on the bitcoin bubble and how to neutralize it through scalable block rewards. i may or may not have posted it in the "catholic coin" thread. either way, i don't care, you need to chill and quit tripping. everyone thinks you are a douche acting like a douche.

To give small miners a small edge.  Many give up when they see how little they stand to make.  That's not right.

Thank you so much.  That's why I went with the 1% premine but half of that 1% goes immediately for bounties  for block explorers, pools, etc.  and my half of 1% will be in a wallet everyone can keep an eye on, I will not sell a single coin and its possible ill just give it all away if it looks like there's urgent work that needs to be done.  This is not a short term thing for me, I keep saying that but people are deaf.  I want this to work for the long term.

Thanks so much for being reasonable - most people here only think about themselves.  Maybe it's because too many hack devs came thru here  pumping and dumping their coins.  I'm not that guy.   You will all see.

No, sorry, but your theory sounds pretty good.  I'd love to read it sometimes.  Are you an economist as well?

This VGB protocol is different than scaling.  But I'm not sure how it will work out in real life since it can get weird once programmed.  That's why I wanna pay another programmer with experience to take a second look.   I don't want to ruin a good theory by some bug or programming error.  

I've been trying to do a good thing for all miners and I've used 99% of their input even where I didn't like it. And in return they all attacked me like rabid dogs.

So I'm sorry but my patience is running thin.  I thought you were one of them now trying to say I stole your idea.  I apologize.

well i must admit, i'm a bit puzzled about VGB. once you've released i'll ask again in pm. maybe you can enlighten me a little bit. not because i want to steal your idea, but i invest(buy from the dev) in coins i think have a future. ) i probably be willing to buy 1000 atleast.

I was interested in this at first. But now that the premine shit is 0% then 1% then 5% then 11% then 0% in an announce thread then 1% two posts later...can't say I'm even gonna touch this one. Best of luck to those that do but I see this "dev" throwing a bitch fit next week and giving up on it completely

Two things. First is that putting so much focus on miners will undermine a currency. They secure the network sure, but that is for the purpose of an economy that functions on trade (ie an actual economy). Essentially, what will make tue coin useful is everything except mining. Also, changing your mind over and over while maintaining yourself as the only dev with this system will erode trust, and fast.

Before launching anything there's a process of brainstorming.  That's what this was.  I had people saying sure 10% is great.  Then some flipped out so I dropped it to 5%.  Some said great but then some said flipped so I dropped it to 1%.  Then again people had a cow so I removed that too.

Then my programmer said that was plain stupid and I needed at last a small premine.

I have been changing my mind - as much as I've been listening to the people I'm trying to build this coin for and there was never a strong consesus.

If you think that's untrustworthy then that's your prerogative.  Go find another dev that gives a shit about what you people think.

And for r3wt, What exactly do you want to pay 1,000 for?  I don't get it?  VGB will be free since its open source.  I won't charge you anything for it if it turns out to be a good thing and it doesn't go haywire once put into practice.

And the focus is on miners cause they're the 99%, and they should have some sort of advantage.  That's all VGB is,- small advantage but everyone befits even the big miners.  As long as it works properly since none of these programmers have worked with anything like it before so its hard to say if it will perform as expected. 

So my focus is on the miners only as far as leveling the playing field a bit end making mining less of a flatline experience but that's for everyone who mines.  Mining should be a bit more fun and rewarding and hopefully VGB will have that effect.

R3wt, check you PM.

The coin is 99% ready to launch.

The second programmer I wanted to do a second look at the code isn't responding so I may just launch this as is.  Hopefully the VGB Protocol won't throw everything into crazy land.  Since it is something no programmer has had to work with yet.  

We'll see.

I'll explain VGB as soon as I launch it.  It's scrypt but but with no PoS as PoS wouldn't work with athe VGB protocol but its fine, the diff is covered and so far the test run is looking flawless.  I think all miners will be excited to see VGB hit their screens.

What I'm getting at is that the only reason miners even exist is to solve the double spending problem. Fidgeting around with mining payouts does nothing to help with the actual use of the currency.

You're obviously not a small miner.

Miners serve another purpose, to Make some money as their reward for making a solid secure network for everyone and the way things are now and only getting worse ,owners will get cut out.  So I wanted to create so etching with a small edge which would give miners a relative edge.  That's all.  Everyone is still happy, everyone wins, nothing changed, nobody is robbed while the small guy now has a bit of excitement in his life.  It's win-win, like I've said many times before.

Small miners make the network secure less than big miners. If you're trying to profit small miners more, then you're not rewarding them for making the network more secure. It's a perverse worthless charity at best instead.

The best scams try to make the people getting scammed think they're getting in on something. That's the miners thinking they're getting the "miners' coin" in this case, when really it's just a distracting show while you get your percentage.

so, when is the time/date of release?
in the first post says it's gonna be tonight. when?  ::)

But they don't make a solid secure network for everyone.

Instead they fragment all over the place, making more and more networks each of which is less and less secure.

If they were actually out to make a solid secure network for everyone they would merged mine, so that adding yet another coin/chain would not involve abandoning some already existing chain.

As it is, especially with those websites now that pretend to tell you which coin is "most profitable" to mine, it is all about insecuring all the networks, raping all the chains, and trying to establish a constant heartbeat of pumping and dumping where each coin that goes down in difficulty gets pumped back up so it will take small miners forever to mine each block, so the small miners are stuck making nothing mining the coins they actually are honestly trying to secure and make work properly by mining them even when those websites have trashed them by sending a bunch of gangbangers to drive the difficulty out of the reach of small miners.

If you really wanted to help small miners you should be making sure they each are picking up some of each of the sleeper coins so they can actually make some money like all the small miners who mined BBQcoins for a year with CPUs did, and making sure they know to use merged mining...

-MarkM-

It's not my intention to appear hounding for the sake of hounding, but I'm honestly curious what anyone sees in this coin. He hasn't talked about the VGB protocol in this thread (and what details he's said in other threads are pure fantasy), so that's a non-factor. Is yet-another-scrypt-litecoin clone that funnels a percentage of money to a certain person really that interesting? What is going on in anyone's head who is interested in this? "I really wish I could mine a coin that gave Vlad a percentage of my profits!" Or is it just "I'm sad I missed the bitcoin launch years ago; this thing has 'coin' in its name and is launching so I'll get rich if I support this!"?

In the next 1 hour.

http://www.youtube.com/watch?v=3oF25IsGjuc (http://www.youtube.com/watch?v=3oF25IsGjuc)

Betty Nugs

I have literally begged to let me make a merge SHA256 coin but they went crazy so I went with scrypt.  I personally lov sha256 but now its scrypt so I guess that means less secure networks.  I wish I had know that before.


Coin should launch on the next 1 hour.  It's all done I'm just making sure the VGB protocol doesn't act weird when put into practice and cause something lame like instamine to occur.

Why would you even want sha256 in a coin that's targeted at the "small miner"? Do you understand the significance of that choice?

I'm just curious about the VGB protocol, that's all  :D

if this pre-mine thing don't stop, I'll probably launch my own coin too, based on nuggets, 0 % to the dev and no pre-mine. Let's see how the miner community respond  ;D

@Vlad: if your programmer is having a hard time implementing the VGB protocol, then it is most likely your guy is not a seasoned programmer or your VGB protocol is very hard to implement.

Unless you set starting difficulty high instamine is going to occur regardless. And if you do set it decently high, instead initial blocks will take ten or a hundred times as long per block than the target due to everyone waiting for everyone else to mine those initial difficult blocks...

However since you are such a fan of merged mining and scrypt doesn't yet have that according to some reports, hopefully you have at least confirmed with your programmer that whichever existing scrypt coin you based yours on can at least act as PRIMARY chain in merged mining, even if you have not had the ability to be a SECONDARY chain added?

some seem to imply litecoin etc might not have even the support for being PRIMARY chain in a merge, since maybe that was added to bitcoin after litecoin had already been created?

if that is so, all the scrypt coins being unable even to be PRIMARY in merges, hopefully you at least have fixed that stupid oversight previous scrypt coins have in them?

(Simply track back in bitcoin's history to find the pull/patch that added ability to be primary chain, and have that applied...)

-MarkM-

The ability to merge.

It seems possible that the ability to even be PRIMARY chain in a merge might have been added to bitcoin after litecoin had already forked from bitcoin and that no one has bothered yet to fix the problem of litecoin, and if so thus all its descendants, lacking even ability to be PRIMARY in a merge.

The significance is thus that small miners need not do without their bitcoins, namecoins, ixcoins, i0coins, coiledcoins, groupcoins, devcoins and geistgeld when they choose to also mine some new coin; instead they just add it to their merge, while most big miners turn up their nose and don't bother merging all the coins, thus leaving lots of chains the small miner can merge that the large miners do not bother to merge.

-MarkM-

So it's launching tonight?

Guess I'll go ahead and hop on for the first 24-48 hours... why not :P

Tempted to just put everything on this one and watch this "amazing protocol" go crazy

So this went from inception, to build, to launch in something like 48 hours?

Wtf?

And now he's offline...

That's what happens when you hire a programmer to copy and paste code

As a small miner, I doubt I can afford to mine this at all, since it would mean forgoing either litecoin mining or merged mining bitcoins, devcoins, groupcoins, ixcoins, i0coins, namecoins, coiledcoins and geistgeld.

I actually have two (5870) GPUs, but i get only up to 255 KHash trying to do scrypt compared to 405 MHash doing sha256, so even doing litecoin (due on mtgox any fortnight now) is dubious, I might be better off sticking to the merged coins than putting so many less kilohashes toward an scrypt coin than I can put megahashes toward all the entire gamut of merged sha256 coins all at once.

Maybe if I was a larger miner, one with many more GPUs, I could consider sparing one briefly but since i expect the usual orphanfest that seems likely to be doomed to be a waste so maybe its just as well i am not a large enough miner to have scrypt hashes to throw at this thing.

(Though maybe if it settles down eventually yet is high price in exchanges maybe I could point some CPUs at it via p2pool like I did for litecoin before better things to do with my CPUs came along.)

-MarkM-

Vlad, when you keep making changes to an announcement, you really need to go back to the original post, and edit it with these changes.  Also change the tone, or your killing the coin yourself with your attitude.  

Your a business man.  Treat this like a BUSINESS.  You don't open the door to your new store, and take out an advertisement saying "Anyone that shops here is a f'in idiot".  A business man of all people (Hell even the anti business geeks get it).  You have to try to sell it.  There are piles of coins launched everyday.  Rehashing your old problems isn't helping anyone.  Believe me we gave your coins a chance by voting against your ideas.  If you really wanted a poll, then you should be happy with the results.  If you had your mind set all along, then don't do any polls.

So back to the beginning.  Go to the announcement first post, click edit, and remove "This is a PoS coin with PoW (It's the other way around just so you know), but it's now a PoW Scrypt coin. Don't mention your wanting it to have been an SHA256 coin, and wtf don't mention you wanted it to be killed????   Get rid of the 0% premine, and change to 1% premine with 0.5% going to bounties ect.  Don't keep advertising that premine.  Let it sweep itself under the covers.  Also in the coin announcement, this is when your supposed to be selling the VGB protocol.  Not sometime after it launches.  If you want the people to buy into your coin, and remember it's your invention, time to sell it, or you might have someone else copying the coin and "selling" VGB as his own, since you didn't actually say its yours.  Your betting everything up as you ace in the hole for launch.  But the coin won't take off for I long time, and anyone who hears of you invention won't pay to create their own copy now when they can get it free possibly tomorrow.

Thanks didn't think of that .

The coin is launched.  To take a look and maybe you wann try mining it to try and hit the Vlad Golden Block!

Good luck.