Bitcoin Forum

2) When BitShares is released the genesis block will contain all of the unspent output balances from ProtoShares chain.

If you have one proto share then you will be given 1 bitshares in genesis block automatically

Proto shares will live on as the basis of comodityShares and then techShares and every bitshares based chain released in the future.

Any idea of what sort of hardware is needed to mine protoshares? What exactly is proof of momentum friendly?

You can't just assume that everyone will honor the "protoshares" as equal to "bitshares" when they are released though. That's a big part of open source software, people can change it as they see fit at any point in the future. It's at least equally likely that once you release the source code for Bitshares everyone will simply use a version which strips out any sort of previous mining or initial coins. There's actually a big incentive for future miners to ignore pre-mines like this. Imagine if Bitcoin had had a pre-mine of some sort (even in the form of another currency that gets hard coded in to be equal to Bitcoins); likely the first action of the community would have been to hard fork and start from 0 coins.

I have been skeptical of your project from the beginning since you seem to assume that the market is magic and will do whatever you want it to regardless of profit motive. However I was planning on mining Bitshares once you got things figured out. Mining protoshares just seems like a waste of time and effort for everyone involved. I encourage you to scrap this idea and work harder on Bitshares themselves (since any real attachment to a currency only comes from its unique utility). At least you are going about this whole thing more honestly than Dacoinminister with his demands of money up front in exchange for a 100% pre-mined non-functional alt-coin.

If you have one proto share then you will be given 1 bitshares in genesis block automatically

Can you advise the total number of bitshares to be issue?

Interested to know what percentage of bitshares you intend to allocate to protoshare owners? Will there be 2 million or 200 million bitshares?

Does the logo contest also end on Nov 5th? I'll make a design. Do you want it to have specific colours?

Would you like the logo with/without text and do you want a specific shape to come out in the logo?

Second one looks good, keep' em coming!  ::)

Did you mean to roll your eyes?   

I like the way the second one looks as well, though it seems to lack the square aspect ratio of most icons. 

Client
Scope is for a Windows-QT client, compilation of windows binaries, genesis block construction, launch support. Other platforms expressly outside the scope.

Proof of Work
1) Momentum Proof-of-Work based upon    https://github.com/InvictusInnovations/BitShares/blob/master/src/momentum.cpp
Modification to support very low end miners ->
1. Require between 256MB - 1GB memory
->To allow for use on very low end equiment
2. Limit A and B such that all possible matches are exhausted in less than 1 second - H would need to change every second and could include new transactions.
->So that faster computers are not disproportionately advantaged over slower ones.
3. Change
Hash(H + A + B) < TargetDifficulty
to
Hash(H + A + B + MemoryHash(A) + MemoryHash(B)) < TargetDifficulty
->To prevent GPUs evaluating this step before adding B to memory.
Aim for following parameters
     50 Bit  Birthdays 
     2^26   Max Nonce
     sha512 generates 8, 50 bit birthdays or if we do some bit math we could get 10, 50 bit birthdays out of it.
     A core i7 can generate about 768 MB of SHA512 hashes / second with OpenSSL which means that if you store the nonce + birthday the throughput would be about 1 GB/sec at peak performance. 

Minting Schedule
2) 2 million coin maximum (in 4 years)
5) halve the block reward every 3 months
5% reward block reduction each week until approx 2 million coins issued over 2 years or so, followed by 1% yearly inflation (recomputation of percentage reduction each block would be prone to rounding errors which would cause forks)

Block Interval and Size
3) 5 minute block intervals
Fine.
4) 512 KB max block size.
Fine

Bitcoin Version
6) Derived from very recent version of Bitcoin Qt
Based on 0.8.5 - Lastest Bitcoin-Qt Stable release (2013-09-13 - Bitcoin-Qt version 0.8.5 released)
7) Mining Supported via GUI menu
Fine,
but interface for pooled mining should be considered part of the mining pool project 

Launch
8) The bounty will be paid 1 month after the chain has launched with no fatal bugs.
Require 5 BTC at outset - used for purchase of i7-4770 based computer to be used for mining during testing and minimum of 1 month after launch.
Remaining 13BTC paid 1 month after the chain launched with no fatal bugs.
Amounts are fixed in BTC. Developer bears currency exchange risk of loss or appreciation of BTC in this time period.

Launch Time
Genesis block time and text to be decided by Invictus (assuming non-odious)
uPnP
I had some trouble compiling uPnP into QT clients before - so we'll consider this outside the scope of the project. Resolving configuration issues like this can take days but might be we can find someone who can help with config. Note, there's a crazy guy who stalks the forums accusing any non uPnP client of being a scam, fraud, high treason, etc. Expect him to show up.
DL: 4) I can handle the uPnP issues.
Miner Crashes
I found with MemoryCoin that computers mining 24/7 at max capacity would hard crash randomly, with a frequency of every 24hrs or so. Not sure if this is due to something in the Scrypt code that is hit occassionally, or a consequence of pushing the memory/memorybus so hard. This may be an unresolvable issue (common and hardware based) and unpredictable crashes may have to be regarded as a cost of mining.
DL: 5) Miner crashes are ok so long as the blockchain logic is solid, I can fix those myself.

Conversion To Bitshares
There is a 1-1 conversion rate between ProtoShares and BitShares. Bitshares to be limited to approx 20,000,000 so that ProtoShares miners ownership of Bitshares is not diluted.

picking up the "blueprint" idea:

http://imgur.com/uCqQ1md

Great... perhaps instead of the sharp square edges, you could put the blueprint on a sheet of paper with curled up edges?  Something that gives it a nicer 'edge'?

Google Image Search: Xcode Icon for some inspiration.

FreeTrade has contracted to build the BitcoinQt ProtoShares network so the 18 BTC bounty is off the table.   Terms of the agreement are posted here for reference.

Adjusted the size a bit.

https://i.imgur.com/KCSgDpT.png

Also tried playing around with the letters, but if you allign them diagonally it'll look like it says 'RS'.

Proof of Work
1) Momentum Proof-of-Work based upon    https://github.com/InvictusInnovations/BitShares/blob/master/src/momentum.cpp
Modification to support very low end miners ->
1. Require between 256MB - 1GB memory
->To allow for use on very low end equiment

logo concept, needs cleanup, better contrast

https://i.imgur.com/VoRVtXU.png

What will be the initial difficulty at the launch? And how fast is the adjustment of the difficulty?

here are my drafts ... understand it right, you wanna blueprint character or is it just an idea (suggestion) ?


Icon V1.0
http://jantenner81.files.wordpress.com/2013/10/protoshare_icon_v1.png

Icon V1.1
http://jantenner81.files.wordpress.com/2013/10/protoshare_icon_v1-1.png

---------------------------------------------------------------------------------

Icon V2.0
http://jantenner81.files.wordpress.com/2013/10/protoshare_icon_v2.png

Icon V2.1
http://jantenner81.files.wordpress.com/2013/10/protoshare_icon_v2-1.png

Hope you'll enjoy ..

The network effect is powerful and the only thing keeping Bitcoin on top.   Sure someone could fork it and 'start from scratch'.... but everyone who has been following the project from early on including 100% of developers, partners, and speculators would have been mining.   I will take my chances with the market.

I don't assume people will honor them as 'equal'.... in fact, they will not be equal because ProtoShares will be the foundation of many future AltShares where as BitShares will just be the currency exchange.  If ProtoShares have any value at all it will be because people understand the network effect.  When BitShares do come out they would have to bet that the social contract was too weak and everyone would adopt a new chain starting from 0 rather than honor the contract....  very dubious.

. . . At least you are going about this whole thing more honestly than Dacoinminister with his demands of money up front in exchange for a 100% pre-mined non-functional alt-coin.

Yeah, can you believe how many people fell for my scam? They're all weeping now, cursing themselves for ever trusting a scammer like me, just like you predicted.

Best of luck to you bytemaster. I'll be watching. Isn't this stuff fun? Scary too. The world is going to look very different in a few years.

I am scared to imagine what you two could accomplish together lol  :)

It would be great to work together but we both have obligations to our respective investors.  Perhapse we can join forces once a winner is found. 

I'm invested in one and eagerly awaiting the other. Together they occupy 90% of my bitcointalk forum time to keep up with developments.

I'm invested in one and eagerly awaiting the other. Together they occupy 90% of my bitcointalk forum time to keep up with developments.

Great... perhaps instead of the sharp square edges, you could put the blueprint on a sheet of paper with curled up edges?  Something that gives it a nicer 'edge'?

So here is a new submission with the original version plus 5 more variants that have some more features on the edges. Make sure you click every preview image to see the full version, otherwise you see scaled images again scaled by imgur  ;)
Surprisingly they look pretty clean even down to 32x32, just for 16x16 I'd say the first variant should be used. But mixing isn't a problem, e.g. for the ProtoShareQt client you can use an .ico file that contains different variants for 32x32 and 16x16.

Hope you like it.

http://imgur.com/a/P4Txs

Variants 3 and 6 are my favorites <3

I do like all the effort everyone has put in and am looking forward to updates to some of the early submissions.

Did you see my updates? You haven't commented on them yet.

http://imgur.com/a/P4Txs

I love them, definitely in the top 3 right now.  I like the angled sheets with texture more than the straight on sheets  and it would be nice to see both sides of an angled sheet 'roll up like a scroll'.   I really like where they are going.

Also jantenner's submission is good - the 'P' is clear although I can't see any 'S'.

I like the elegance and simplicity, but most icons do not have fine print under them.  It needs to look good scaled down to 16x16 or up to 512x512

yes but is the S important ? Thinking we should create a stong brand visual ... and very important it should fit on all sizes ...also 16x16px .. but for this size... we can't do much on icon for clearness ... if you wanna recognize anything on small sizes you can't do much more... i thought this was the challenge ...

Here's an update,

https://i.imgur.com/jVNKWeW.png?1

Ohhhh... Ahhhhh....  I like where this is going!

Some suggestions for improvement:

1) More margin around the P
2) Larger teeth on the gears that will stand out even at 32x32

I like having the high res detailed version for the launch splash screen!

Maybe not - it's just that the upper stroke looks like it is trying to be a second letter - maybe you can talk a bit about what it's purpose is? I like the oval - assuming this is evoking the idea of an egg, which fits in nicely with the proto. Generally I like really simple logos with strong symbolism (like yours), but I'm not the man to convince . . a lot of the other coins go in for fancy graphics and shading, which is fine for a startup screen, but is a mistake for a logo.

maybe you can talk a bit about what it's purpose is?

I have declared Jan the winner, will you please provide me with the ICON + Splash Screen graphics for ProtoShares along with all source files.

From what I can tell ProtoShares should be ready to go live within the week!  Good work FreeTrade, Jan, td services, and other contributors! 

sure i will :) what format do you need? .eps .svg .pdf ?

Congratulations Jan,

I think you've made a great logo for ProtoShares.

We'll need .eps for backup and also following specific formats -

.svg, (1024x1024)

.png 256x256 - 128x128 - 64x64 - 32x32 - 16x16

.png 480x320 - startup splash screen

.ico (not sure about the dimensions on this on, think it typically contains a number of dimensions)

Please PM me the details.