Bitcoin Forum

Hi here,

i'm currently beeing quite interested in those new bitcoin alternate currencies appearing on github, and recently felt on this one : terracoin.org

This one have some pretty low internal "settings", similar to LiteCoin in some ways, but until now, i can't decide if those parameters may be good or not...

The two major "parameters" i'm talking about here are :

- 2 minutes per block

- difficulty adjustment every 30 blocks (1 hour)

While looking interesting at first, i don't really know what effect those will have on pools, and especially p2pool.
With such a small delay between two blocks, do you think p2pool can deal with this currency ?

Do you think pools may "just work" with that small 2 minutes timing ?

I guess i'll have to wait and see, dunno...

Your invention perhaps? :-)

unfortunately .. no (don't have time for that atm), but i've been mining some of those like crazy finally :)
(it appears that this "network" is quite small now)

Sound good mate : D

All altcoins are inferior to bitcoin.
Go look at Solidcoin/Solidcoin2/Soiledcoin/Shitcoin/Microcash/MicroCrash

Thats literally how the name of the product was refferanced by forums members, The "coin" was even Properly DMCA'd off the internet, Then it was relabled Mircocash.

Oh what the heck, I'm in.

Or at least until someone 51% the whole thing. Another 5 minutes perhaps?

lol


Same  :D

Has it been 51%ed yet? :-)

No? I give it another 2 minutes.

Since it's just a copy of bitcoin with some tweaks, any reason why ASICS wouldn't work on it?

how is it possible to mine for it?

Solo mine at this point. Any Litecoin or Bitcoin solo mining tutorial will point you in the right direction. That said- it's purely for the heck of it.

Oh yeah, and don't forget to virus scan that stuff. It could easily just be a way to steal your bitcoins. I mine on a machine with no wallets.

Scanned with Kaspersky seems ok .....

rabbit what are you hashing @

Since this is obviously just a total copy of Bitcoin, I think it would be awesome if all the scripting features of Bitcoin (that are currently disabled) would be enabled in Terracoin, just so we can play around with it. Scripting is too tricky to be worth the risk of trying it on Bitcoin or even Litecoin for that matter, so why not enable all the scripting options in Terracoin and see what people come up with? Would give it a honest reason to be experimented with other then just pumpity dumpity dump.

This coin does not exist.

 "This is a pre-release test build - use at your own risk - do not use for mining or merchant applications"

So, who has vetted the source code to check it is not a wallet-strealing trojan?

From this section on the website "Currently, TerraCoin client does not differ from Bitcoin client excepting:" it makes no mention of having merged mining patches applied so presumably it cannot be added to one's repertoire of merged mined chains, so one would have to divert hashing from more than half a dozen existing chains at once just to mine this one chain. Hmm. Expensive to mine it...

Is it lower difficulty than GRouPcoin still or has it already skyrocketed to 272+ difficulty?

-MarkM-

Currently @ ~ 180 kinda fluctuating i'd say...

Yeah I see that now I made a sandbox to build and run it in.

How is its value looking? Compare for example to

http://galaxies.mygamesonline.org/ingroupcoins.html

and various other such tables linked to from

http://galaxies.mygamesonline.org/digitalisassets.html

-MarkM-

I dont understand the interest in all those alt-coin.. IMO bitcoin have been created near perfection by "Satoshi"..  I dont see the need to another type of p2p-coin..  Therefore, BTC have proven solid, have history, and a lot of great poeples dedicating part or all their live to them, buisness are poping everywhere.. A lot of very intelligent and savy peoples work for BTC.  I dont think any alt are comparable, and they still pop and died all arround ?  Anyone know why some seems interested by those pale copy ?

Having only one type of tradeable thing is not as good as having more than one type of tradeable thing.

A good example is one coin type that tends to go up in value and one that tends to remain relatively stable in value and one that tends to go down in value.

People looking for stable value can use the stable one, people wanting a store of value to use as collateral can use the one that tends to go up in value as collateral/reserves/savings, and people looking for loans can borrow the one that tends to go down in value (possibly using the one that tends to go up in value as collateral to secure the loan).

If only bitcoins exist, you end up having to spend bitcoins; with devcoins also existing, you can borrow devcoins using your bitcoins as collateral and spend the devcoins, thus avoiding digging into your bitcoin hoard.

-MarkM-

Where can you see the difficultly ?

You'll see it by :

- Help / Debug
- Console
- type  getmininginfo

And people looking to day-trade their cryptocurrency can use all 3 types :)

Cheers

So who owns Terracoin ?

Where can you trade these terracoins?

How many you selling, what coin you looking to be paid in, and how much of that coin per terracoin or how many terracoin per one of the coin you want as payment?

Adding coin types to either of both of the Open Transactions servers is not hard, but so far none of the users of either or both of those servers have asked to have this coin enabled there...

-MarkM-

The funny thing is, since it's basically exactly bitcoin all over again, is that all the open source projects for bitcoin should automatically just work the same for 'terracoin' since it's just the same thing.

lol

It might be interesting/strange/terrible if in the future people just keep forking bitcoin with near exact duplicates and what we get is a world full of parallel bitcoins.

Carefull about what Bitcoin you send that money too!

So basically because Bitcoin is open-source, there is nothing to stop people from just forking as often as they want. We could have a world full of funny-named coins. In this case if you make it a copy of bitcoin, then even all the other open source projects out there for bitcoin should work out-of-the-box.

Conceivably some small country could use bitcoin as their own monetary supply by forking, starting up their own miners, mine the heck out of it for awhile and then release it to their public- allowing people to mine as well but by keeping the lionshare of the coin to themselves.

Who knows- you could make your own clubhouse coins. Highschools could make their own coins. It's kinda exciting if you think about it. In a way with bitcoin we're building a whole infrastructure to create money systems.

Indeed sir  :)

There is something to be said for completely independent alt-chains running for experimenting with, without any chance of screwing something up with the bitcoin chain.

Now, if they decide later on (like BBQcoin did) to try listing it on exchanges with all the testing pre-mine intact, we got a different story...

Otherwise, it is harmless...

Get it set up for merge-mining and I'll add it to my mining, help test out new things and stuff, but until then, it isn't worth giving up my real-coin mining.

-- Smoov

I mined one block(20 TRCs), but they were "reclaimed" about ten minutes later. Pass.

Did you see the warning that it was in beta test stage and was not recommended to use as a wallet for transactions and or mining?

lol I tried to mine too but I found nothing. BUT IT WORKS THOUGH

Uh yeah...tough to miss.

As mentioned it's very expensive(opportunity cost) to mine a single newb coin rather than merge mining established coins. It was just unusual to see a block taken away after such a relatively long duration.

I believe that could be considered as a 100% tax.  :P

I'd say you now own one of those few orphaned blocks in the chain :(

Bitcoin also see a few of those every day (see http://blockchain.info/orphaned-blocks for an example), but i guess pools deals with it in some way

and i'd bet this one effect increased by those low settings i was talking about while starting this topic, effect also probably increased by current relatively low difficulty

Maybe it was someone pulling a luke-jr... Deliberately orphan-ing everyone else for a while.

Luke did that to CoiLedCoin but not for long; CoiLedCoin is still chugging away along with the other chains that don't go crazy trying to make merging them more of a loss than a gain.

There are still more than half a dozen chains sitting back waiting for merged mining to prove itself before opening themselves up again to attack... One of the things tested with GRouPcoin was the idea of "licensed miners", a way of protecting communities happily chugging away using CPUs from being attacked by pools full of GPUs.

Have you really looked closely yet at http://galaxies.mygamesonline.org/digitalisassets.html ?

Maybe try looking even more carefully?

It find some of what it shows to be somewhat suprising, despite having been assured over and over by certain factions of players that that is exactly what would happen once their concepts were actually up and running.

-MarkM-

i think i have 2 Orphaned Blocks ?

http://anonymouse.org/cgi-bin/anon-www.cgi/http://img217.imageshack.us/img217/5981/11745590.png (http://anonymouse.org/cgi-bin/anon-www.cgi/http://img217.imageshack.us/i/11745590.png/)

GeistGeld (https://bitcointalk.org/index.php?topic=42417.0) used 15 second blocks.  Faster blocks increase the amount of stale shares for pool miners and orphans, but 2 minutes is completely feasible.

OP, did you create this coin?  A search on the forum turns up nothing.  To be honest, this looks like just another pump-and-dump coin.

The OP told me he just found it browsing the forks of Bitcoin, and indeed a quick shows about 400 forks of bitcoin. So it could be anyone, although the OP's post count and join date are about the same date as the start of the coin. soooooo......

That said- pump and dump. Sure. Maybe. Probably. I'm mining at the moment because- why not! It would be interesting to see if BTC miners would leave Bitcoin for a copy of bitcoin once they can't mine because of ASICS anymore or if they would just choose Litecoin which is more established. I suspect there will be a lot of excess GPU's free at people's parents houses, at colleges, and other places that people will be willing to spend (someone else's money) in electricity to mine. 

Just out of curiosity what are you using to mine these? I tried it with GUIminer and only got 800khs on my 7970. But with just 1 CPU core I received about the same.

I am personally fascinated by something that is nearly an identical copy of Bitcoin, with the tinniest of tweaks added. Everything in the bitcoin world should already work: right out of the box. And this is probably the last time you could just duplicate bitcoin and have people jump on board- in the future with ASICS unless someone alters the coin more significantly, there is far too much has power going around to start up something, and people will be working hard to pay off their ASICS but will be looking for something for their older FPGA's to do.

Or maybe it's just fun to do. Who knows. I'm hashing!

http://img402.imageshack.us/img402/9146/46921903.png (http://img402.imageshack.us/i/46921903.png/)

Funny- I can't get terracoin GUI to run at the same time as the server. hmmmm.

what server ?

do mean cgminer ?

the terracoind server. How are you solo mining? I'm solo mining with Cgminer connecting to a running version of terracoind. But I can't run the GUI at the same time.I have to quit terracoind first.

Ok sorry still noobish here i started solo mining launching terracoin GUI not terracoind then connecting cgminer, is that right ? 

Oh, well if it works too. Rock on.

yer it does i had to open terracoin-qt through cmd though and created a config file to solo mine then i keyed in all the info to CGminer then it all worked : D

Hashing power people throwing at this??

I left 600 M/Hash on it for a day.. will probably do a week or so?? if not more.. while difficulty down below 200... been at 60 one point today :P

would love to know what i'd need to do to setup a Blockexplorer for this chain.. and a pool for mining.... any pointers anyone?

All donations are welcome!!!
TRC: 1FzdruHpffAeW2ZBctDLwR8P4APVpATu2j

Everything that works for Bitcoin works for Terracoin, because, well, it IS Bitcoin. (In every way that really matters).

So just google any of the open source bitcoin projects: ABE for block exploring, p2p pool for a pool.

I like how https://www.bitaddress.org works perfectly for terracoin.

You could try https://github.com/terracoin/blockparser  it was recently patched to support terracoin.

I'm so curious about all these new users with so few posts who know so much about terracoin. Whats up? We obviously are curious, why don't the developers just introduce themselves already?

That link ( https://github.com/terracoin/blockparser ) comes from http://terracoin.org/

I know, I wasn't trying to be accusatory. Just suspicious. The person who started talking about Terracoin in the first place also only has a couple posts. So, you know-

Anyway, welcome aboard in any case!

Thanks :)

i joined more than a year ago, but went to other things in between (real life) .. catching up by browsing forums and subforums...

Has anyone tried mining with any kind of FPGA yet?

Not that I know of- I suspect FPGA miners are trying to hold onto BTC for as long as possible.

I just switched over one of my singles to give it a shot and it doesn't seem to want to hash, seems very odd but it wont accept any shares. Any ideas? I'm just curious more than anything, not really planning on running it on terracoin for long since you are correct about squeezing every bit out.

Are you using Terracoind or are you using the GUI to mine off? Maybe this is an obvious question- but are you sure the config file is set correctly- and the datadir?

Seems weird that it would not accept shares. I'm mining with CG miner on Terracoind, no problems.

indeed i cannot get a block now thanks a lot   >:(

:D

Wow the diff went up so fast already? I guess its time for someone to open a pool.

My god nice boat, b nice to have one  8)

Pool please   :D

sure! pm me!

I will send you one, free of charge. Just give me your address. :-)

Sent you 10.5 TRC  ;)

I sent you one. TxID: 25f10e7b67ebdae11a4e6eceb3808867358f38f579a2d78c7ead81fbf003ebcb

sorry couldn't resist..... http://www.laportaverde.com/uploads/DSCF0277_normal.JPG

hows this?? fit ur yacht??

It's still reasonable to CPU mine. Maybe you won't be banging out the blocks, but you will hit one eventually. The diff isn't that high yet.

Wow thats fast. It does help that it seems like it was discovered at pretty much it's 'inception' or "forking". So it feels 'fresh' somehow.

What date did Terracoin officially launch?

got a pool up and running, https://bitcointalk.org/index.php?topic=122547.0 (https://bitcointalk.org/index.php?topic=122547.0)

Any special setting on the transaction fees? Dont want someone spamming the blockchain with insignificant small transactions.

good point. But it's a clone of bitcoin, and they are taking up the new patches to bitcoin, so I'm hoping this has been thought about. Do you know where we would check to be sure?

TRC pool being put together. ETA 7 days!

https://bitcointalk.org/index.php?topic=122607.0

ouch ... is my formula wrong, or .. do we have fat miners out here today ??

i applied the network hash rate estimation formula from https://en.bitcoin.it/wiki/Difficulty#What_network_hash_rate_results_in_a_given_difficulty.3F to current terracoin difficulty and the 120 seconds delay :

(block = 4111 diff=1518.96)

network_hashrate = 1518.96 * 2^32 / 120

it gives me ..  54.36 Ghashes/sec !?!?!?!?

already ?!  :)

hehe :)

so you get same result ?

about 54Gh/s ?

its gone down to 847

thank god! I hope it stays down for a little while.

If the earlier formula is right looks like we are up over 80Ghash!  Maybe someone too my "test your asic" post seriously!

I've just started TRC pool at Coinotron :)

https://bitcointalk.org/index.php?topic=49182.msg1321767#msg1321767 (https://bitcointalk.org/index.php?topic=49182.msg1321767#msg1321767)

AWESOME! Thank you!

I'd say its about time for someone to post terracoin on one of the main exchanges.  But on the other hand that would just draw more attention to it, and thus make the difficulty go up.  So maybe not quite yet  ;D

I have to say no to this one. Not just because of the difficulty going up, because it's just not about that. It's been around a week, it's totally not time to do an exchange. Maybe in 3 months if it's still here we could talk about it then. But worse then drive attention to it and drive the difficulty up, it will just make it a target for attack. So I'd say, lets not talk exchanges. It is a great test bed for trying things out- there have been enough pump and dumps. There isn't even a block explorer yet, so people cant' even see if the coins are moving around without heading to the command line.

No,no, lets keep the exchange talk to a minimum and instead build cool stuff first.

I see your point.  No reason to rush it.  But wouldn't that likely help protect against an attack?  More hashrate = harder to 51%. 

And speaking of which, someone should get on a block explorer!

Maybe, or maybe it would show that the coin was worth nothing, everyone would stop mining it and the hashrate would drop the whole thing would die. Al-la Geist Geld, FairBrix, Tenebrix, IOcoin, IXcoin, the list goes on and on. The best thing to do for now is to stay off an exchange. :-)

And this is how discussions should be held on the internet.  +1 you've convinced me :)

Where can I get a Windows build from?

How mush do you offer for per 20TRC?

Are you buying or selling? 

If selling, .0001 BTC.
If buying, 1 BTC   ;D

I'm hoarding until there comes a good use for these.  I have faith in them.

Ok so original OP said he found this browsing the Sourceforge site.... was wondering if there were any other forks of the blockchain that had been started and new alt coins out there that we SHOULD ALL KNOW ABOUT!! ??

haha, at that rate, i'd rather keep them for a while  ;D

What's the cap on total Terracoins?

I must be blind or retarded (maybe a little of both) because I totally missed that when I originally went to the Terracoin site :P

A retargeting interval of 30 blocks (~ 1 hour) is probably a less than wise choice as then the difficulty is subject to miner manipulation to a large degree. There are good reasons why bitcoin wants to use a long adjustment interval of 2 weeks. ppcoin has continuous adjustment but still the average is over an effective interval of one week.

But the author seems to be working on a distributed p2p exchange (which doesn't seem to be related to terracoin directly). We'll see how that would pan out.

PPC and P2P exchange sounds interesting.

So people can go psycho and destroy everyones work whenever they get started? hmmmm....

.5 BTC for 1TRC. :-)

No seriously, i'm glad no one is selling right now. Hold on to it, lets try and do something useful first!

sorry nah I was just interested as to the phrasing of the OP in that he made it sound like this was one of many he found... there were no others that I could find that I not already heard about... but was actually just interested in case anyone had come up with other parameters in the coin design, or if there were other small networks that don't make it till it gets posted about on here etc... but yeah fair point to the fact that we have probably shocked the Terracoin developers with the hash rate they seeing on their fork... especially with all the warning signs on their wallet about do not use for mining or merchant stuff....

Hey, somebody send me a TRC? :)

1KC5gwzHdPgBE5UQm1sxByh617gUe4T568

Im, going to go ahead and set up a node and dedicate some hashes for the network.

It sure shocked me when I saw it!  :o

Sent you 1  ;)

Made a TRC logo  :D

http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://img825.imageshack.us/img825/1706/trcr.png (http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://img825.imageshack.us/i/trcr.png/)
I own this Logo and i am giving it away to anyone who wants to use it, i have the rights to do so, this is public domain as of now.

I love the logo :) ... but for me Terracoin has connotations of "Terror" hence i felt it needed a little tweaking the logo...


https://i.imgur.com/4kVxl.png (https://i.imgur.com/4kVxl.png)

ROFL man  :D

I have to say, it has a bit of a weird SEGA video game look to it. And it does look kinda "Terror" ish. :-)

are you going to put that logo in the public domain?

Commits? COMMITS! COMMITS!@@!@#!$#@%@$^&**!^&@$*%#(^(&*)

https://github.com/terracoin/terracoin/commits/dev-0.1.1 (https://github.com/terracoin/terracoin/commits/dev-0.1.1)

looks like a new version is coming out soon

cool!

Sorry how do you do that ?

You basically say you are the owner and you are giving it away to anyone who would use it (and that you have the rights to do so). You can say it's "public domain", and that should be enough.

Difficulty just hit 4383.9  :o  Highest I've seen by far. 

http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://img825.imageshack.us/img825/1706/trcr.png (http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://img825.imageshack.us/i/trcr.png/)
I own this Logo and i am giving it away to anyone who wants to use it, i have the rights to do so, this is public domain as of now.

wow

Over the past couple of days LTC has really lost value to the BTC.  I wonder if some big LTC miners moved over to TRC. 

crap! That's like (maybe) 156.9Ghash network strength. Already it's so hard to make coins! Sheez!

There was at least one very large LTC dump on BTC-e today that I saw knocking the price down hard. It's been recovering since that was cleared.

I cannot understand why there is so much power being thrown at a coin that is literally only days old. Is there any kind of network graph yet so we can see how the hashrate % is divided ?

Not sure this is the best i think atm

http://pool.bitcoinreactor.com/images/stats/pool_trc_hashrate.png

I did ask if anyone wanted to test their ASICS on terracoin. :-) Maybe someone took up the call.

Difficulty 9017  :o

difficulty just dropped back down to 2254 :)

good grief that was a difficult couple minutes. It's nice to see diff adjust so quickly. A welcome change from waiting days or weeks for an adjust.

Agreed that does seem to be a nice feature of this coin... but how susceptible to powerful miners is the network to being "played"?? people were talking of how a big miner could jump on... ruin the difficulty (make it hard to mine) then jump off to lower the difficulty... and hence mine as many blocks as possible before difficulty readjusts... sorry not explaining to well but hope you see my point?

I see your point, but it works both ways. The diff readjusts every 2 minutes, meaning if the big miner jumps off to lower the difficulty- and then jumps back on to mine at the lower difficulty, he/she still only gets two minutes of that lower difficulty before it readjusts. So yes, durring those 2 minutes they can make more coins then they otherwise would have.

At the same time however, everyone else gets to make coins at that lower difficulty as well. The big miner could always choose just to say "on" and thus keep the difficulty extraordinarily high. In other chains like bitcoin with a longer retarget iterval get to exploit that 'low difficulty' for a much longer time, while jumping off as soon as the difficulty skyrockets, leaving all the small miners trying to mine coins in the super high difficulty. Then as soon as it drops down again the big miner come in and starts plowing away cheap coins again.

See? Miner manipulation is inevitable now that some people have super powerfull rigs. Having a quick retarget is probably the best way of dealing with it.

hehe :)  i've been mining on that pool for a few hours, and .... we finally found a block !!

Took quite some time, apparently, we were only .. 7 miners on this one ...

Can't wait to see how many of those coins i'll get :)

7/20 = < 3 TRC.  :-\

not if i ran longer than others, or had a "bigger" one :)

anyway ... 110+ blocks for confirmation ..

yes :) received my payment about an hour ago :)

unfortunately .. you were quite right with the payed amount ; there was a "big dude" in the group ...
( http://pool.bitcoinreactor.com/blockrewards/8838/list/ )

Finally got TRC, address in sig, but not sure how to mine for it yet. Will work on that bit next, but one step at a time here..

Just point your miner(s) @ coinotron

http://coinotron.com/coinotron/AccountServlet?action=home

 :)

sent you 1 TRC to get you started :)

almost as exciting as my first BTC!  Thanks! Now on to learn now to mine... must it be gpu or cpu too?

have you mined before?? if so then the mining software u use will work on TRC the same... well not the LTC mining stuff... but Cgminer/pheonix miner and GUI miner all work the same for TRC as BTC .... just point at a pool with a worker dedicated to mine TRC.... coinotrons pools is good, but there was a plea for miners to join the http://pool.bitcoinreactor.com/stats/ pool to and they got a good hash rate now so u will get payouts :)

any problems just ask :)

I mine btc ltc. Can I do all three?

yeah sure, just ur hashing power will be split between them all as merge mining not on with these 3

I cannot find how that bitcoinreactor rewards work. Cannot find an option to manually pay the reward, either the information about automatic payouts.

What do you need in terr.config file to solo mine with ?