Bitcoin Forum

Mark your calendars folks...  On May 10th, MicroCash will be introduced and will showcase some of the most advanced technology ever for a currency/system. Don't miss out as MicroCash positions itself to change the concept of banking and currency transaction forever.  :)

http://solidcointalk.org/topic/593-microcash-announcement/ (http://solidcointalk.org/topic/593-microcash-announcement/)

Historical Reference (2006):
http://www.saffo.com/02006/01/05/microcash-and-penny-candy/ (http://www.saffo.com/02006/01/05/microcash-and-penny-candy/)

http://i.imgspc.com/49Sat.png

http://i.imgspc.com/2K8S8.png

http://i.imgspc.com/phpr2.png


Some bullet points:  (remember, over the life of this project, BTC code and methodologies have been fork lifted and optimized to address the shortcomings of the original BTC code. Unlike the "forks" that many of the alternate currencies are, MicroCash is radically new so don't get wrapped up trying to compare MicroCash to BTC or any of the forks.  

http://i.imgspc.com/jS3y3.png

*) New name that is more business friendly and tells people who know nothing about the technology what the intended use is all about
*) Peer-to-peer decentralized crypto-currency with currency creation reward based on energy used to create the currency (real value)
*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.
*)
*) Resistant against 51% mining attacks. Money is used to help solve block disputes but now nearly everyone can contribute to this process instead of only a few trust nodes.
*) A new way to send/recv funds securely over the MicroCash network, meaning you can download the client and be sending/receiving cash within seconds. No blockchain download required
*) Can now get paid merely for running a node
*) MicroCash Accounts now gain a form of "interest" which is collected from all network fees and redistibuted to accounts based on their total MicroCash holdings. Increase your MicroCash amount and get more interest
*) Chain donation address added. Send money to this address and it redistributes it evenly to every MicroCash account
*) Dual signature accounts allowed. Meaning you can now have two devices with 2 keys able to confirm a transaction. ie You create a transaction on your PC and your mobile phone confirms it. If your PC is ever hacked your funds can't be removed without your phone confirming it.
*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.
*) Transaction fees reduced to a fixed 0.005MC (half cent) for a normal transaction and 0.01 MC for dual signature
*) Transaction size is now much smaller, which means we can fit more in a block and have less disk/memory usage
*) An address (pubkey and privkey) is now looked at like an account. Each transaction involves the moving of one balance to another account. No inputs required, fixed transaction size, one signing per transaction maximum with the standard transaction type.
*) There are no physical transactions added to the blockchain as a result of a new block. Instead a new block is treated as 2 separate transactions. One to the creator (who gets 100% of a blocks value) and one to the CPF (that gets 5% of the block value)
*) Block header is now 104 bytes, with room for the address of creator and optimization of other fields
*) Address format is now much smaller and easier to read (will be announced at beta)
*) Custom database engine that is extremely fast at looking up every transaction, every block and every account. Much improved custom database to store all blocks and transactions.
*) Extremely fast transaction/block/account lookup, resulting in less CPU usage running a node.
*) No IRC client needed to find other nodes
*) New C++ codebase that is easy to extend and has been heavily optimized
*) Easier for businesses and websites to use. Low resource usage. URL Callbacks when their accounts are involved in transactions, no need for constant polling or creating a new address for every customer.
*) Transactions are now a fixed size and are also heavily optimized and easy to create for thin clients.
*) Improved Proof of Work hash and handling. Now reference previous blocks with a SHA256 to improve disk loading
*) Increased mining income to match $1-$2 range instead of $3-4 range
*) Powerblocks are removed
*) Trust nodes and trust blocks are removed
*) The 10 trust accounts are removed
*) Improved P2P handling
*) Much shorter address format and new hashing mechanism for them. Accounts store public keys so that once set it's more secure than ripemd160
*) Denial of Service code added, can now ban nodes that flood the network
*) Ability to donate MicroCash to nodes for passing on transactions and blocks
*) URL and email callbacks for accounts on a node. Allow developers to get transactions pushed to them instead of constantly polling
*) Trading on exchanges will be possible within the client
*) Ability to add labels or information to transactions you send to others
*) Can create payment codes that clients accept with amount, address and information tags already filled out.

BTW, the most fundamental req. of any currency system is speed of the transaction. Unlike BTC, wherein it takes minutes for transactions to complete, microcash is nearly instant. This has been written from the ground up and designed for mobility.

How did you accomplish this feat? The reason bitcoin takes several minutes to confirm transactions (the transactions themselves are almost instant) is to prevent stale blocks resulting from network propagation delays, which would greatly reduce the effective hashpower of the network and basically allow anyone with the lowest network latency to take control of the network. How did you solve this problem?

And the most fundamental requirements of a currency system are fungibility (one coin is just as good as any other of the same denomination), divisibility (you can easily make change for large amounts), and difficulty of counterfeiting (you can easily tell a genuine coin from a fake one). MicroCash falls flat on its face for the last point if you don't have a cold answer to my above question.

It's probably because he is using central or 'trusted' nodes/servers again, hence getting away from the decentralized system. As the solidcoins/scamcoins system, he could just shut down everything if he likes.
Your Majesty Realsolid, please keep your propaganda in your own forums or the alternatecoins subforum.

Dude... Just because I posted a screenshot of Realsolid's running client, don't assume he posted this thread. I'm only educating the new comers about a great new technology that will explode to the masses because it overcomes the deficiencies of BTC. Now stop being intimidated and let everyone evaluate and formulate their own opinions. Solidcoin has now become MicroCash and is positioning itself to take the e-currency world by storm (just accept it and don't get "left behind" in the process.)  :)

I notice you don't deny who you are directly.



No neutral third-party would ever talk like that. Obviousclone is obvious.

@Topic: Where does the money come from? Who runs the nodes? Is this decentralized?

I can verify that notyep is *not* RealSolid.


Anyone can run a node if you have the computer to do so (same goes with mining).
The money comes from these magical things called blocks. Or did I miss what you were asking?
It is very decentralized. The nodes do make it a little more centralized, but if you really want to, you could have your computer turned into a node and get paid for having the node running.

calendar marked.
Tripple boot macbook ready for testing, goes in the sandbox first.

It is only useful if we can verify.


So it uses a blockchain just like Bitcoin then?

How is it different than bitcoin, and no hype please.

Impressive looking client !

the address format looks like a 15 year old 1337-speek-kid designed it. pretty g*y

If it does, it looks like the average time between blocks is only a few seconds. At that rate, network latency is more important than hashpower when mining, resulting in less security than a wet cardboard box (anyone with average hashpower and a low-latency connection can take over the network).

Warning: microcash is solidcoin also known as scamcoin

please avoid it.

And Warning:  Don't let those who are intimidated by MicroCash steer you away from taking part in revolutionary/game changing technology. Trust me, those very people even though they may not openly admit it will be on the same bandwagon as the momentum rises,  regardless of how much time, energy, and money they've invested in old technology (I'm speaking of the Hero/Senior BTC members who insist on bashing. *smiles*)

Inform yourself, read here https://bitcointalk.org/index.php?topic=77286.0

MicroCash is SolidCoin repackaged.

SolidCoin is a less secure form of Bitcoin.

Move along.

How many pre-mined coins does it have this time?

The only coins brought forward will be the existing 2.8M "user owned" coins since inception of the original SC project.

ScamCoin is not SolidCoin. ScamCoin is not MicroCash.

MicroCash = SolidCoin with twice the self-promotional preaching and ego-maniacal blindness.

You also have to take into account the user friendliness that MicroCash has, which Bitcoin does not have yet.

Once the 21 million bitcoin blocks are mined, there will probably only be like 20 or 19 million (or maybe less) that are actually able to be spent without cracking the wallets (which will take a long time to do).

With MicroCash, most of the money can be spent and it is basically like being your own bank to a new user where you can get paid interest.

Nothing you have mentioned is something Bitcoin can't do either by design or third-party applications. There is much disorder in the bitcoin community, but that doesn't excuse SolidCoin's larger fatal flaws.

Those of us who want something they can depend on will stick with Bitcoin until something better comes along. A fork of Bitcoin with a Forex trading GUI isn't impressing anyone.

Well sure people can stick with what they like. There's no law against that.
But for a noob... MicroCash has a huge potential.

MicroCash doesn't seem to have much for flaws. I might have missed a list of assumed flaws earlier, but if it can be compatible with big endian devices, it might end up more successful than Bitcoin.
Not having to download a blockchain enables people that only have 50 kb/s connections to use it. Or even 4 kb/s connection.

And earlier... by bitcoin blocks, I clearly meant bitcoin money/coins.

I haven't heard any real 'features' yet, just stuff that Bitcoin already does and a bunch of a denial about how it's just a fork of bitcoin.

Paypal doesn't require a blockchain. Neither does MintChip as far as I can tell. What's the point though?

How can someone follow something so blindly who can't even argue why it's important? All I'm seeing here are empty and vague claims.

"It will explode in the future"
"Taking the world by storm!"
"You'll be sorry!"

Basically the exact same things scammers say right before they sign you up for a Forex seminar in a remote part of the world.

There is a reason you're here-- it's because you believe that Bitcoin is better than fiat. So then explain to me, fellow believer, why is MicroCash better than Bitcoin? Facts please.

It's so much fail.

Basically he is just saying "it's better, it will boom" etcetc...

Please stop with the forks.

Thank you.

looks good

I would also point out Bitcoin with a lite client (or ewallet service) doesn't need to download the blockchain either.

Not having to download the blockchain is OPTIONAL in Bitcoin depending on how much trust you need.

I doubt any major merchant wants to run their wallet without access to the raw blockchain though.

That's what you said when SC1 was released.
That's what you said when SC2 was released.
Now you're saying the same thing again.

More of the same. Big promises that turn out empty.

The only thing I'm wondering is, where's the source code?

Just as I figured, everyone clearly can see the writing on the wall that MicroCash will be taking the world by storm. So much that this post was removed from the Newbie section (which I expected would happen considering the amount of views in such a short amount of time).  Word is spreading like wildfire and will continue. In matter of fact, I will continue to keep the Newbie community informed since they are the most important audience.  I encourage all of the "wise" BTC investors to expand your portfolio with the most advanced crypto-currencies of all time at launch. Many of the key BTC developers already have including many members of this community.  As for the "BTC Babel community" (BTCBC) that choose to continue to bash and babel (you know who you are), keep waisting your time because that means more opportunity for the rest of us.  After  joining this forum back in August and learning so much from this wonderful community and keeping silent in the process. I'm convinced that this post (my first in ages) will be my most important post here, even if it happens to be my last.  See you on the other side!    ;D

Why? Are you afraid that people with more experience in crypto-currency won't go for your brilliant scheme? What possible reason could they have for such scepticism? ::)

Well put.


Nice scare quotes.
^{[citation needed]}


lolwut

wow... Notyep.. you really dont sound like a second hand car salesman.. i will trust you from here on and forever...

You know, now that you mention it, he did. Although I didn't see it at first, buried in his wall of text he says that blocks are mined every 2 minutes. The fact that this contradicts both the screenshot he posted and his own statement that transactions are "nearly instant" says all I need to know. ::)

The more I read about this, the more it sounds like paypal - only with more fees, slower transactions, and less security.

but at least with paypal, they don't deduct your $ every day.

If you have over a certain amount, you actually earn interest.

Most banks charge fees of some sort (usually monthly). If you divide the fees up, you are actually losing x amount per day.

IIRC, MicroCash is written in C#, so it should work on more computers

Is it opensource?

yes/no

As a C# developer I have to say this wins the award for most asinine statement today.

http://en.wikipedia.org/wiki/Compiler

It works with Mono (well mostly) :)

Thanks for keeping the news about MC$ to the top of the queue.  The number of new community members and users we've had join the project is earth shattering.  Especially the excitement regarding the upcoming beta!    BTW, if you'd like to get involved here is a link to a nice system under $100 http://www.newegg.com/Product/Product.aspx?Item=N82E16813130568R (http://www.newegg.com/Product/Product.aspx?Item=N82E16813130568R) that you can outfit with the GPU of your choice.  Works great for me.  :)   (just a small token of appreciation for your generosity and PR :)

http://i.imgspc.com/W7E8J.png

screenshot of super secret awesome

How goes the secret mining?

No-one is falling for this MicroCash Scam ChimpHunter (or whoever you are.) The more you post here the more people point out it's a con and the higher those pages go in google's index.

Warnings that Microcash is a con are rated 5th on google and 15th on bing, mostly due to other people using the term MicroCash.

I wonder if you are going to be stomped by microcashcorp.com ?

UPDATE:  MicroCash public beta will launch in two days.  As the post has said from day one, "Get Ready"!  ;)

The pictures are for two reasons:
1) The target audience of Microcash cannot read, thus images and word of mouth are the only mediums which can reach them
2) The idea behind Microcash (enrichment of CH through the fleecing of the unwary) cannot withstand the light of day, thus no papers or source code.

And yes, we knew you were Coinhunter.

Maybe I'm thinking about this one aspect a little too much, but WHY ON EARTH would anyone ever use any cryptocurrency that had ever at any time been closed-source? Even if MicroCash had its source available prior to launch, SC2 didn't and including those coins taints the entire chain. It's essentially a premine for people who trusted RS.

Who wants to reward the sort of moron who actually invested in SC2? That even on its own is a huge deterrent. The only conclusion I can draw is that they are not expanding their target demographic of complete idiots. They could be building a whole new pyramid without starting atop this one's unsound foundation.

I have half a mind to immediately fork it to FairCash or whatever just to mess with them, but I can't solve the double-spend problem either.

Are those real screenshots?  If so, I love how the sell side obliterates the buy side.

T-minus to failure = soon

BTW, notyep, do you have some kind of neurological deficiency that makes you confuse pictures for reason?

No one could actually be THIS bad at promotion... Maybe notyep is just a misguided Bitcoiner who is trying to be a strawman. Is there any confirmation from RealSolid that notyep is in any way affiliated with MicroCash? Any denial of it?

wait, you think SC/MC competes with BTC?

I would say it leeches from BTC(Solidcoinmafia lol), and as such can never compete.

LTC and NMC were not and are still not ridiculed.
Your post at the start of the thread is marketing material. We have been asking for the math and implementation of the math behind the claims.

For instance, you make the claim that Microcash is a "Peer-to-peer decentralized crypto-currency with currency creation reward based on energy used to create the currency (real value)". Where is the proof that it is both peer to peer and decentralized? Solidcoin 2.0 made both of those claims and it turned out it was just 10 tyrant nodes acting as half the network. That is not peer to peer, since nobody is a peer with a tyrant node and they make half the blocks. Nor is it decentralized, since the block chain cannot move forward without the 10 tyrant nodes (e.g. if you stop paying the electric bill for them).

You also claim that no blockchain download is required. So who does download the blockchain and makes sure the transactions are valid? More central servers? Or is Microcash divided into nodes and users (servers and clients instead of peer to peer)?

You do lay out the values for a standard bitcoin clone at the start. But why a 0.005MC fee for a transaction instead of 0.01MC or 0.004MC? Without any insight into why you chose these particular values it is hard to decide if they make sense without working from first principles. This is a significant investment of time and effort that nobody is willing to make at this point in time for two reasons:
  1) Historically those values have fluctuated over the course of your previous attempts at a currency
  2) SoiledCoin does not take input from the user community.

The one thing that you are right about is not posting the source or the math to Microcash. The only hope for SoiledCoin 3.0 is hype, not substance.

Edit: thanks for admitting you are Coinhunter. Most people would sign their posts and be proud of what they created, unless they knew they would have to run once the gig was up.

Digital signature or it didn't happen.

But of course you're just having fun with us morons, so you won't actually substantiate any claims. ;)

So none, then?

Or did you mean the PR barrage of forum-spam, completely lacking in any technical details or substance whatsoever behind it?



Yeah, about that whole "launch" thing?  Not getting a beta out before the 10th merely didn't look very good...  But not getting a client out (not even a beta) by the official launch date?

DOA, dude.

MicroCash has been developed by a team of core developers with exceptional industry leading talent backed by investors. It is a decentralized technology. To shut it down would require shutting down the Internet. ;)

FTFY

I feel like i heard that kind of claims before..

If microcash works as currently described in OP, then it's possible that certain accounts will become black holes over time.
If a large account (with interest > than fee) goes out of business (the owner dies or something else) then it will never decay, but instead will keep accumulating coins from the rest of the network getting even bigger.

I think interest should drop to zero If an account hasn't been spent from for a period of time.

Technically true. Since Microcash consists entirely of posts on message boards and in search engine caches, the only way to get rid of it would be to shut down the internet.
To stop SoiledCoin, all you need do is hack Coinhunters box or seize it with a warrant. Then you have the passwords and private keys of the tyrant nodes. With that, you could stop the block chain, or spend every single SoiledCoin, or both.

I made a semi-reasonable response to this and it appears to have been deleted. It seems one of the mods went on a delete frenzy.

My basic point was:

Any lost account containing enough MicroCash would keep growing forever due to interest. A black hole is the right analogy. However I expect CoinHunter has considered that likelihood and put some kind of coin recovery mechanism in place to ensure the lost coins get returned to 'the economy'. I should expect 'the economy' really means his wallet. Of course there is no way of knowing if coins have been lost or are off-line in a encrypted wallet somewhere so any recovery mechanism could well steal coins that have not been used for some months.


The interest and tax mechanisms as described are fundamentally broken.

The dev team is polishing things up before release.  As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....

Now that is funny... :D.   Where did you get that from BTW???

Oohh i see where you're going, with MicroCrash you don't need scriptkiddies to steal your moneys, the devs will do it for you! That's simply ingenious!
Quickly, tell me how do i sell all my bitcoins to get microcash? (having them take my bitcoins AND my microcash sounds kinda silly, but hey, so does this whole topic.)

I'm curious, which "improved technology" would have prevented the theft of SolidCoinsMicroCash, if it were in use instead of Bitcoin in this case?

Are you saying MicroCash contains some method to revoke coins?

My god that's scary and the best reason yet to have nothing to do with MicroCash!

Here is one example of a significant improvement: "Dual signature accounts allowed with MC$: Meaning you can now have two devices with 2 keys able to confirm a transaction. ie You create a transaction on your PC and your mobile phone confirms it. If your PC is ever hacked your funds can't be removed without your phone confirming it."

No one may never learn all the details surrounding the recent 18K BTC Heist.  Nevertheless, the hard work the community and dev team have put into the MC$ code base such as the above will demonstrate that the goal is to make security of the currency priority one.

So, basically... P2SH?

That was copied from BitCoin, Gavin was asking the alt coins to test it months ago.

It would not help where transfers have to be initiated automatically in any case, it only helps where it's reasonable to have two people or one system and one person approving a transfer.

Security may be your goal but you are working with an unproven codebase. MicroCash security can't be up to BitCoin standards in protocol or in implementation.

coooooooooooooooooooool
Scamcoins, Now with the ability to slowly drain your balance!

Signing off until the official release...  Stay tuned to MicroCash.org for updates. That's all Folks!   ;)

Signing off to the past?

I see you addressed none of my points about the design weaknesses in SoiledCoin (and it's rebranding as Microcash).
Still, if you spent more time coding and less time on the forums it would save us all a lot of time and effort.

I wonder if the source code will ever be released for Microcash. Probably not since they had to shut down SoiledCoin2 after releasing it's source.  ;D

More code copied from Bitcoin, eh? Will the source code include the required licenses?

Your a stupid fool, That was the 19yr old's Trading Website Bitcoinica that got robbed of 18k.
Same thing could happen to ANY currency.

Are you still arguing with these trolls? Seriously, why are you trying to teach these pigs to sing?

Let the kids play in their sand box with their dog poo, not your problem  ;D

The MicroCash kids can play where they like, when they start trying to scam people that don't know better into using their rigged coin then I care.

If we just ignore these morons they are going to scam everyone they can. If we make noise and question their rigged system google will index it and anyone doing due-diligence ( which isn't nearly enough people  judging by how many people handed over BitCoins to bitcoinica ) will find it. Less people will be scammed and less damage will be done to the reputation of crypto-currencies in general.

You cannot protect everyone. Eventually people will have to learn to wise up and do their homework before jumping head first. It's all part of the natural cycle. Unfortunate? Yes. But it's for their own good.

It's been well established that Scamcoin is a sham, and anyone who fails to see that deserves to get ripped off, as that's the only way they'll learn.

Some people never wise up, and when those people get fleeced by SoiledCoin the press might make a distinction between them and Bitcoin. I would prefer if those who are doomed to be taken advantage were not part of Bitcoin so their folly does not reflect poorly on BTC. So SoiledCoin does serve a purpose.

There does need to be a minimum bar however. Threads like these make certain that those with over 80 I.Q. are forewarned of the danger. Those with under 80 cannot be helped, and provide the grist the SoiledCoin mill feeds upon.

I don't see what a comprimised account has to do with the technology of bitcoin.  The theft is more about the security at bitcoinica.  It just so happened BTC were involved.

Regardless if MC is more secure or not, in order for these "currencies" to succeed, they need to be accepted at a wide variety of vendors commonly used by the public.  Where is MC accepted?

lol, i can imagine how that goes

email to store "Do you accept microcash?"
store searches for microcash "MICROCASH IS A SCAM!"
store emails back "...no"

LOL exactly...

are we googlebombing microcash is a scam?

Yup just like my subject line above!

Oh
My
FUCKING
God.

When do we get to hit people for stating that False Statement that "bitcoin was hacked and 18,000btc were stolen"

BITCOINICA<---- THE WEBSITE, BUILT BY A NINETEEN YEAR OLD PERSON, WAS HACKED. AND THE BITCOINICA ACCOUNTS WERE ATTACKED.

NOTHING about bitcoin was threatened.

By the same token... December 17, 2038, is also "close to the tenth" of something.

*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.

A few of the alternate chains tried that, it caused a lot of forked blocks due to everyones clocks being set differently.

*) Resistant against 51% mining attacks. Money is used to help solve block disputes but now nearly everyone can contribute to this process instead of only a few trust nodes.

There is no sensible way that can work.

*) A new way to send/recv funds securely over the MicroCash network, meaning you can download the client and be sending/receiving cash within seconds. No blockchain download required

You mean a lite client?

*) Can now get paid merely for running a node

No. Get paid for having funds with the payment being proportional to the amount of funds you have. A tax the poor to pay the rich tax system.

*) MicroCash Accounts now gain a form of "interest" which is collected from all network fees and redistibuted to accounts based on their total MicroCash holdings. Increase your MicroCash amount and get more interest

Covered above.

*) Chain donation address added. Send money to this address and it redistributes it evenly to every MicroCash account

Part of the tax/interest system and doesn't make sense for any normal use.

*) Dual signature accounts allowed. Meaning you can now have two devices with 2 keys able to confirm a transaction. ie You create a transaction on your PC and your mobile phone confirms it. If your PC is ever hacked your funds can't be removed without your phone confirming it.

A good idea, copied from BitCoin.

*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.

That was already listed. A few of the alternate chains tried that, it caused a lot of forked blocks due to everyones clocks being set differently.

*) Transaction fees reduced to a fixed 0.005MC (half cent) for a normal transaction and 0.01 MC for dual signature

Nonsense. We saw how well fixed transaction fees worked with solidcoin. They lead to blockchain abuse.

*) Transaction size is now much smaller, which means we can fit more in a block and have less disk/memory usage

You mean some of the security has been removed by using shorted key lengths. Bad move if you expect this thing to carry on for a few years.

*) An address (pubkey and privkey) is now looked at like an account. Each transaction involves the moving of one balance to another account. No inputs required, fixed transaction size, one signing per transaction maximum with the standard transaction type.

This doesn't appear to make sense. Need more details.

*) There are no physical transactions added to the blockchain as a result of a new block. Instead a new block is treated as 2 separate transactions. One to the creator (who gets 100% of a blocks value) and one to the CPF (that gets 5% of the block value)

Are you saying transactions are not stored in the blockchain? This doesn't make sense. Also the CPF is really RealSolid's personal wallet and the whole concept of a tax on a peer2peer currency is sick and wrong.

*) Block header is now 104 bytes, with room for the address of creator and optimization of other fields

Optimization = reduced security by using shorter block lengths.

*) Address format is now much smaller and easier to read (will be announced at beta)

Again, reduced security by using short key lengths.

*) Custom database engine that is extremely fast at looking up every transaction, every block and every account. Much improved custom database to store all blocks and transactions.

Need more details.

*) Extremely fast transaction/block/account lookup, resulting in less CPU usage running a node.

Due to a reduction in security be reducing key lengths and possibly other security reducing measures.

*) No IRC client needed to find other nodes

BitCoin has been bootstraping from DNS for a long time now. This is just a copy of that mechanism.

*) New C++ codebase that is easy to extend and has been heavily optimized

Strange. I was told it was C#.

*) Easier for businesses and websites to use. Low resource usage. URL Callbacks when their accounts are involved in transactions, no need for constant polling or creating a new address for every customer.

This is nonsense.

*) Transactions are now a fixed size and are also heavily optimized and easy to create for thin clients.

This was covered above. Security had to be reduced by a large amount for this.

*) Improved Proof of Work hash and handling. Now reference previous blocks with a SHA256 to improve disk loading

That doesn't sound like an improvement.

*) Increased mining income to match $1-$2 range instead of $3-4 range

Increased to less? This doesn't make sense.

*) Powerblocks are removed

Good. They were an insane idea.

*) Trust nodes and trust blocks are removed

Good. They were an insane idea.

*) The 10 trust accounts are removed

Good. They were an insane idea. I wonder where those 10 million coins will go though?

*) Improved P2P handling

Yet to be seen.

*) Much shorter address format and new hashing mechanism for them. Accounts store public keys so that once set it's more secure than ripemd160

Covered above. This was brought with a very large reduction in security of the whole system.

*) Denial of Service code added, can now ban nodes that flood the network

Ripe for abuse no doubt because there isn't any clear way to do this sensibly.

*) Ability to donate MicroCash to nodes for passing on transactions and blocks

Ability to give away money? What?

*) URL and email callbacks for accounts on a node. Allow developers to get transactions pushed to them instead of constantly polling

A reasonable idea but hardly world changing. Could be done with a small change to BitCoin but most people just write a wrapper around bitcoind.

*) Trading on exchanges will be possible within the client

Which exchanges? Because the only dedicated solidcoin exchange just shut down.

*) Ability to add labels or information to transactions you send to others

That's fairly useful actually.

*) Can create payment codes that clients accept with amount, address and information tags already filled out.

Any website can do that, it's called a form.

Notice they didn't specify which year.

They also didn't specify to whom it would be introduced. Maybe after the successful closed-source launch of SC2, they decided to run with that and go closed-executable this time. First two months = MicroCash for inner circle members only!

And of course they will need to reimburse these beta testers with special rules or tax money, a policy that will change after public release...

The key lengths are not shorter. Bitcoin uses an atrociously inefficient system for moving coins around. MC, if it existed, would presumably be using the account ledger/balance sheet type system over the transaction ledger of bitcoin. This means a standard transaction can be a fixed size, about 150 bytes vs 400-500 bytes on average.

Okay.  Who is he?

http://i.chzbgr.com/completestore/2008/6/26/whoamiyour128589378187172919.jpg

And @ BitCoin"Slow"lane:  Again, this will be my last post until the MC$ production release.  ;D

L A S T .

NO MORE KICKING THE HORSE GUYS. C'MON ALREADY

Is there a mailing address for the company behind this product?

No company. No product.

Until there is a release it's nothing but vapor.

Address:

Dewey, Cheatum & Howe
666 Vaporware Loop
Scamtown, NSW
eAt mE
Australia.

Where did you get my address from mate ???

Strange, I thought you were from Manchester, UK.

You should go back to the SolidCoin groupies. You belong with your own kind.

Stop kicking the horse guys.....L A S T

You mean Bulanula or MicroCash?

http://mebelee.files.wordpress.com/2010/11/retards-bird-owl-funny-retards-demotivational-poster-1220096956.jpg

Your friends are calling you back Bulanula.

Thanks for the laughs mate !

Well played, well played ...

Who's "my friends" BTW ???

Nonsense, the utter failure to meet a single release date, the silence of the ignorant lambs, and the reality that it is just another ShortBusCoin scam based on stolen intellectual property is just a flesh wound.

I'm sure this phoenix will get crapped out one day to much acclaim and sock-puppet adoration, only to tank just as massively as every other attempt from the ShortBus of Fools.

+1bitcoin

Why do you keep calling it short bus ???

I don't understand ...

His point exactly (including you on the shortbus) ;D ;D ;D ;D ;D

What is the meaning of this "shortbus" is what I don't understand.

Me on the short bus ? I am confused ???

Do I want to be on the "long" bus ?

Is this about epeen or something ?

OMG this is so funny Loup ! lol

LOLLLL! :-D
Pukanula, you don't want to get on any bus.

Microcash= The white iphone

or the guns and roses album "chinese democracy" which took 15 years to come out and by which point no one cared  :D

Maybe because you have never actually been on a full sized bus.

We all think you ride the short bus but you think it's just a bus.

LOL. You don't get it. Double LOL.

Its a meta-bus

Let's see if I got this right ;) :

You are trying to imply the SC gang has smaller genitals and is on the short "bus" and we need to use a pump to get onto the long "bus" ???

I would have thought we were past such silly insults but I guess I was wrong :D

It's nothing to do with penis size.

If you were not so 'short-bus' you would have figured out what we were talking about by now.

Omg bulanula fits right in with the shortbuscoin folk lol

Pure entertainment

The term is "a kangaroo short in the top paddock".

Bully, old sport, I just have to put you out of your misery on this one, even though it would be a lot more fun to watch you try to figure it out. For weeks. Trust me, it is better I shoot you in the head once, than watch you shoot yourself in the foot a thousand times.

In North America most school districts provide school bus service to carry students to school. For those "special" students, a Short Bus (which is a smaller capacity bus) with mounting points for wheelchairs, restraints for when kids get violent, and heavy duty surface coverings to permit easy clean-up of the drool, vomit and other body excretions that often soil the vehicle, is used. To state it very clearly when I refer to a ShortBusCoin, I am making an allegory that the developers and users of said coin are mentally retarded, slow, challenged, cretins, simple, touched in the head, spastic, nutters, or whack jobs. It is unfortunate that you embraced the allegory, and are fighting to compare "bus sizes" with penis length, it seems to make you desperate to fit in with the Short Bus crowd (!) a position unenviable in terms of mental acuity or penis size. Using a "pump" won't help with these shortcomings, it's really more genetic who is more intelligent. As it is obvious what a real crypto-coin is all about, and quite obviously (to anybody with an IQ in double digits) MicroIntellectualPropertyTheftCash and/or ShortBusCoin will never fill that need. They are built wrong. Like tits on a bull- they are just of no damn use whatsoever, and they make you want to laugh at the stupid bull.

+1 ;D

BananaBrain,

http://whatwouldmomsay.com/blog/wp-content/uploads/youre-fucking-retarded2.jpg

http://lmgtfy.com/?q=short+bus+site%3Aurbandictionary.com

LOL worst part is I am not from the usa and I STILL know what short bus means :).

also +1

Well, excuse me for not being from the USA but I had no idea what the "short bus" thing is for.

Here in the UK they are called SEN ( special educational needs ) people and the bus is the same size otherwise it would be called "discrimination" which is not allowed.

You are not a retard because you did not know what 'short bus' meant, you are a retard because you were unable to figure it out despite having access to resources that would tell you in seconds.

+1  ;D :D :D :D :D

This thread still exists?

Unfortunately yes. Sad the mods haven't looked at this thread as garbage and removed it tro
 This subforum.

Whoa, why did you dig this up now? Did you have high expectations from this project? :)

The good ole days!

This was one funny project fail...RealSoiled never really finished.

What a joke.  ;D ;D ;D

Yes the good old days. I actually wanted to sell Solidcoin / Microcash short at the time.