Bitcoin Forum

I was wondering what happened to Timekoin (TK).

Their website http://timekoin.org is still online. But their forum (http://forums.timekoin.org) is "under maintenance" since December, the number of active servers has plummeted, and there haven't been commits to the Timekoin Github site (https://github.com/knightmb/timekoin) since September (and no relevant updates since at least May). The main dev KnightMB has been silent since about March 2014.

For all these wondering why I'm starting a thread about "just another shitcoin":

Timekoin was one of the first altcoins, and exists since early 2012. It is also one of the first coins not based on the Bitcoin code (I don't know if the CryptoNote-Bytecoin is older or not), and the first one not based on Proof-of-work. Instead, it has a kind of "proof-of-uptime" system where full nodes are rewarded when they stay online continously without interruptions.

Are there any "Timekoiners" left here? If there is interest in continuing this (technically very interesting) project, I would suggest to use this thread or Reddit (http://reddit.com/r/TimeKoin/) for discussions until the forum is back. Perhaps someone with technical knowledge can "reboot" it?

I briefly looked at Timekoin last year because I found it interesting that you could run it on low power devices. The network did not seem to need the kind of processing power other coins need thrown at them. I don't have the technical knowledge to contribute but I will be sorry if it disappears.

For me, the advantage of Timekoin is that it honours stable full nodes. Even if Timekoin would die, I would like to see this principle applied to another coin. But I think it's too early to give up Timekoin, there seems to be a group of "believers" still that run a full node.

What I don't know if it's security model is fully sound. It has no proof of work, no proof of stake or proof of burn, and I don't know if the "transaction history checks" and the IP restriction are sufficient to prevent flood attacks. But one of these mechanisms surely could be added to the system.

Also, perhaps it would be good to make the coin more scarce. I have two ideas:
- limit the coins given out by generation event: e.g. 50.000 / event
- flexibilize the election events: if the queue is short, make the system decide to allow less elections, from a minimum of 1 per cycle if the last number of servers in the queue was 0, until a maximum defined by the actual algorithm.

I don't know anything about Timekoin, but NightMB was arrested for allegedly blackmailing Mitt Romney, threatening to publish his tax returns: U.S. v. BROWN No. 3:13-00118.

Thanks, that explains a lot, as he is the website maintainer and main developer behind Timekoin. I don't know how much he could be in prison for this charge (or if there is a chance he's finally declared not guilty, I must admit that I don't understand English good enough to read the legal documents).

So probably there would be a need for a new website/forum maintainer. There are still more than 20 servers generating, so perhaps there is a chance to find one.

This is just to let you all know that a new version of Timekoin 3.61 has been released and that Timekoin and the forum is back online again :) .

Yes!

The timekoin.org site is offline. There was talk about continuing with a fork or so, but I don't know the status. It's dead for now.

Dead coin I guess, don't hope for a revival because they never worked out in the end, better look for other good coins and forget this piece of trash, next time be more friendly with top altcoins

So it means he was sentenced for 4 year in jail!
Why was he put in prison?

Basically yes, the coin was simply too inflationary and the consensus mechanism is flawed (it is basically only a blockchain with a kind of "invite-model"). I'm not sure if it can be revived, perhaps adding a real PoW or PoS mechanism. I'm interested in it for historical reasons, because it was the first altcoin with entirely new source code.

I think it was this: https://kutv.com/news/local/tennessee-man-sentenced-in-mitt-romney-tax-return-extortion-scheme

Hello to all TimeKoiners! Some good news are finally coming!