Bitcoin Forum

Quark algorithm?

Isn't that a pound sign?
I know it means hashtag because of twitter, but didn't it start out as pound?

https://bitcointalk.org/index.php?topic=401943.msg4353573#msg4353573

Hi Swifty, thanks for that suggestion. What benefit do you see in the quark algorithm over Bitcoin for example?

 ;D######好 占座

Hi OneEyedJack,

Times have changed friend, but yes that's twitter's now. We call it hash over in Australia.

I want proof of work not from calculating useless numbers.

Your turn.

Great link, thank you.

Where is the $ coin?

How about *&!Coin?  lol

Let's see

I want (http://bobby-tables.com/)

Not since the early-mid 2000s.

£ - #
Hmm

Primecoin algorithm?

Please use scrypt-jane, its very cpu friendly because it's only good for gpus in the beginning and then the gpu gets less effective with time while cpu continues being very effective.

"we are hoping to get some feed-back from the community"

Ok, .. yet another coin.

No purpose, no goal , no innovation.

Stop it, thanks

Stylish design on the logo, hope there's more to it...

Possible other features from other innovative coins:

- Give interest back on coins for just running in your active wallet, like Philosopher Stone PHS  (they do 50%!)
- Add a stealth feature...blockchain based?
- Release only to quality exchange, or create your own?

Nice to see Devs asking for input in coin creation.  :)

Hash Coin, as in HSC???

Pound Coin
Number Sign Coin

Which one is it?

Thanks for that idea sydeu I actually like it. Are you familiar with which coins use it and of any problems they have?

Thanks for the compliment. Check out our website for more about #coin (www.hashtagcoin.org). 

Hash, Pound or Crunch ... Looking forward to it. CPU-only would be good for some of us.

please go on

Hey Stewart, great ideas there, much appreciated.

Giving interest back was'nt something I had thought about. Interesting idea. I'll have to look into how they do this. My only concern would be that would inflate the money supply and so devalue coins currently being held. This may not be a huge problem if there were alot of coins around but that is something we would need to decide - how many coins do we want the cap at.

Stealth feature ? could you elaborate on that.

Release to a quality exchange. I agree with that idea. We had been toying with the idea of creating our own exchange at this stage the cost to build and continually secure it would be too high.

The thinking is CPU mining offers the average user a chance to mine, but with pools now that idea seems to be redundant.

CPU only is not good for local miners any more. Cloud miners are take over CPU coins.
I think scrypt-jane is good for miners, and multipools can't attach it.
But all published jane coins are pre or flash mined on start, so do something for that.
Like microCoin is planning to start with ~zero blocks at first 10000 blocks and then diff and nfactor start handle the speed.
Other way to handle this, is give bigger target time, but it will slow transfer speed on the future.

Good luck with that.

Thanks for getting back on my input.

The interest idea has been inplemented with the phs coin.think you would have to study
Their model to see how it works.
It think it encourages saving the coin, versus dumping at higher price.

As for building in stealth, I would look at the anon coin. They have various channel s and blockchain
stuff to help make the coin untraceable.

There is a new exchange in beta that will be carrying only quality coins, like digitalcoin, its
Called crypto avenue. Maybe they would consider a coin with genuine innovations?

I am not a miner other wise I would be interested in creating some hash coins.
But happy to help out and hope to get some early #coin donations.
:)

Best
Stew

Thanks halibat. I'm starting to like the idea of Scypt-jane after reading some blogs online. It's definitely the algorithm we are leaning towards. Some good points made about pre and flash mining and thanks for the reference to microCoin , having a look at it now.

Please have wallets (at least Windows) ready and at least one pool set up before launch (and not like 15 minutes before so everyone is scrambling and it becomes a train wreck).

I know no one likes premining but I would like to recommend mining a few blocks beforehand so that it is tested. Maybe set the reward for first X blocks be zero or really small values.

Really the biggest things to me though are transparency, not rushing to meet a deadline, and frequent edits to first post that explain the current state of the coin. See the ronpaulcoin as an example.

We wont forget you buddy  ;)

Thanks Nick. We want to have these wallets tested and ready well before launch. I understand the frustration when things don't work or go right at launch and its not good for anybody to be involved in that. In terms of premining it is not something we want to do. We will need to pay for things such as devs, website hosting and we will need to decide how we fund these initial setup costs, we were thinking donations. We also want to actively drive marketing for this coin so it can raise itself above the rest. That is something we want to discuss amongst the community and see what people would considered fair. I've taken your advice about editing the first post and thanks for the ronpaulcoin example. Your suggestions are much appreciated.

留个脚印

OPTION A:
1) Pools get the sources at launch - no wallets yet (and accept only already established pools)
2) Zero reward blocks for the first 10-15 minutes so everyone can get on board and ramp up the difficulty
3) Limit the max hashes per sec the pool accepts per user and IP to somewhere around 500 kh/s
    - the big farmer you all know will obviously try to circumvent this by setting up multiple accounts
    - so require email verification for the account, and
    - open the pools for registration only 5 minutes prior to launch
4) Release source and wallets to the public 1 hour later

OR

OPTION B:
1) Release compiled wallets and source at launch
2) People can start solo mining
3) Zero reward for the first 100 blocks
3) It is built into the wallet to not accept more than 500 kh/s during the first 5000 blocks
    - obfuscate the limitation in the code a little, so it is not trivial one minute job to remove the limit
    - the limit could also be gradually removed instead all at once on 5000th block
    - this will of course be circumvented as well, but at least it will take a little time to setup multiple wallets
4) During the first 5000 blocks pools have enough time to set up, and will automatically start to operate normally after 5000th block

I know this would be a lot of work compared to default template launch, but If you don't do that, then the certain farmer might easily own 50% of the currency after 2 hours.

EDIT: if you end up doing either option, I will delete this post for obvious reasons. :)

Hi illodin, thanks for your feed-back. To be honest I had never considered that pools could own 50% of the coins so easily but your right. Limiting the size of the initial blocks to zero is a great idea and gives everyone a chance to get on board as opposed to the launch becoming a mad rush. Limiting the wallet hash-rate so that solo-miners get a chance is a brilliant idea. I will have to look into that and see if it is feasible to do. You obviously have a good understanding of what issues face solo-miners and your feed-back is valuable.

make sure twitter does not have a trademark on "hashtag" also...

Wondering if an IPO (in BTC) for the HashTag Coin would be feasible while still maintaining the coins financial integrity.

Offer an IPO in a fair publicly ledgered way, using a controlled verifiable premine to reward the initial investors, while keeping the miners motivated to mine the coin?

Would require a budget for all the initial costs: web site hosting, logo/marketing, reward for wallet, coin development, etc.

A similar example for funding a coin would be MSC, maybe we could do something on a much smaller investment scale.

Of course, it would be under the onus of "high risk, high reward, invest at your own risk."

Thoughts on this?

I actually like this concept so far. Keep up the good work

So what?

That would be great! Along with a fair(-ish) launch, this could be revolutionary! Keepin' a close eye on this project, as it seems really promising.

Hi Stew, that sounds like a good way of handling it. Having a transparent and accountable IPO could be a better way to deal with this as well as offering people who aren't miners a way to obtain #coins early on. Keeping the solo-miners on-side is important to us. We want to increase the level of participation and for people to feel like they are able to realistically mine on a standard home computer. To be honest I believe if the coin starts trading it will be worth next to nothing. My other way of thinking to help fund this besides donations which are probably going to be unreliable was to actually let people mine and buy up the coins myself early on. That would at least be fair and open, but your idea seems better. Thanks for your suggestion stew, could you send me a link to how MSC ran theirs?

Good pick-up FiatKiller. The phrase "hash tag" was actually coined by a blogger to describe twitters adoption of the # for word groupings. The idea to use # actually came from a twitter user, not twitter,  although the use of # infront of a word has been around since the 70's. So it could be easily argued hashtag has fallen into public domain as it hasn't officially been trade-marked and has been allowed to be freely used by most social media-sites including g+, instagram, you-tube & vines so it usually means it can't be protected as a trademark as its considered "abandoned". I hope not anyway.

Thanks maco. Anything on your wish list?

Good to see POS. 
Great name.

I don't think it's a good idea in the long run to help CPU miners, unless it's simply a result of the algorithm used.

Yes please.

Useless coin is useless.

Thanks for the feedback lumpy.

Do you mean CPU mining is not good for the coin in the long run?

ye imma go with pound coin

or... hash
http://www.youtube.com/watch?v=PXH9Z3JPxd8&feature=player_detailpage#t=140

I prefer CPU mining over anything... So keep up the good work.

Thanks for the encouragement coinp0rn. We wont let you down.

 ;)  I like this coin!

Thanks Koones! Do'nt forget us, we launch on 25th Jan.

Just a notice that I will not be contactable for the next day as I am going on a trip for the weekend (Gold Coast) . I'll be back on Sunday so chat to you all then. PM me if there is anything you wanted to specifically discuss.  Have a good weekend :)

Ok be careful out there though, we don't want you to die or anything of that sort that might delay the release. :P

lol thats true. I'll take care  8)

Hey Hash Tag,

I PMed you some MSC info. Enjoy your vacation!

Stew

Chinese posters, there is a chinese sub forum. For main forums, post in english only. Get the message?

Let me in...  ;D

I've updated the working specifications for #coin (see below). Your feedback is welcomed so we can move to the development phase. As always, we are happy to listen to any idea's as long as reasons are provided to back your case.

• Based on Scrypt-Jane ---> Promotes solo CPU mining
• Protocol  POS+POW hybrid ---> Improves resilience to network hash attacks
• Block generation - 2.5 min ---> Allows faster, transactional type payments when compared to Bitcoin
• Difficulty change Kimotos Gravity Well algorithm ---> Stabilises network hash rate & protects against large multipools
• Confirms 2 ---> Arbritary
• Coins per block 50 (halving every 500,000 blocks ~ 868 days ) ---> Arbitrary
• Total ~ 50 million coins ---> Arbitrary
• Premine ~ 500k-1million coins(1-2%) ---> IPO for investors who wish to purchase but not mine #coin (beneficial to all miners as it creates an initial value for #coin). These IPO sales will be used to cover initial and ongoing costs to drive #coin's development and profile. A public ledger is being considered to allow tracking of these costs to cover things that must be paid for dev's, website hosting and ongoing marketing. Thanks to StewJ for this idea.  

• Block reward: Low nominal value till block 2,500 ---> On release initially first blocks upto block 2,500 (~4.5 days) pay-out only 1 coin. This allows everyone to setup their wallets and lets us fix any teething issues at this stage. Thanks to Halibat and illodin for their ideas here.
• Block 1 = 1
• Block 2 = 1
• Block 3 = 1
• …
• Block 2,500 = 50
• …
• Block 500,000 = 25
• …
• Block 1,000,000 = 12.5

Another key question is how do we encourage a healthy and sustainable network. Would compulsory transaction fees be the preferred method? Do we use some of the pre-mined coins to pay nodes a monthly lease ?

I like idea of low nominal rewards on initial blocks, but I suppose these are post-premine?

Yes coinpr0n, these would be after the initial pre-mine. Glad the low reward to day 4.5 agrees with you I thought it was a good idea too.

Spelling mistake on your site...

Mining software for "Max OS" (http://hashtagcoin.org/?page_id=42)? ;P

lol cheers

Wallet feature : Allow BTC/#coin trading from within the #coin wallet. Developers who feel they can programme this feature are invited to apply. Renumeration will be in BTC or #coin [OPEN]

I see that your looking for trying to substain community interest/interaction with the coin.   Since you guys are going scyript-jane and the coin itself with be cpu friendly, I do have the following suggestions.

Alot of people who were very late to bit/alt coin chain show up on the forums each day.
Create your own pool and test it before coin is released-
More experienced people who know how to min/max will create their own pools if they see the need, and if this comes along smoothly and professionally, those pools will exist before release.

However, make your own #coin pool, and create a true Mining for dummies guide/setup-  Give it a small % fee, and who knows, maybe use the pool fee's to fund a faucet.
Once you have your own pool, target those newer members who constantly ask how to mine for fish.   If this is the first coin they get into, and the getting into is as painless as possible, you have a potential source of loyal/long term first adopters.  As they get experienced, they might shift to more competitive pools, etc.  Still, it helps create more educated ecurrency members, and might create people who are truly invested in the coin.   

The more you establish your infastructure, the more likely it is to catch on.    Maybe take part of the pre-mine to create a faucet or two.   People like free, and if they can get free even without mining, they are more willing to get the wallet.

Don't forget to test the wallet/mining/etc in advance of the release.   Any glitches in said release tend to result in OMGTRASHCOIN peer reviews.

Thanks for your feedback and suggestions elrugrim. Mining pools weren't high on our agenda but I can see where it would be beneficial, as you mention, alot of newcomers are looking for an easy way to get into mining. I like the idea of the faucet giving back to the miners. Your right about ensuring a professional glitch-free launch to be taken seriously, that's definitely our main goal. Thanks, we'll definitely look into starting our own pool.

My Webhost (Host24.com) tells me our website is down for 20-30 minutes.

All I can say is try to keep the premine as low as possible

seems good

Looks promissing :-)

I keep a eye on it and hope to contribute with my single gpu rig :P

I am thinking of even probably halving our initial pre-mine amount. Either that our do a straight give-away for the first 2,500 blocks when reward is only 1 coin. 

The most important is get a good launch. Take too much attention on this point, and the coin will be very succesful.

Thanks for your feed-back guys.

@Mjollnir Your single GPU is what we want to see, Scrypt-Jane will even let you mine on your mobile phone. I'm looking into setting up a P2Pool but I will have to see how much time we have with development still to finish.

@atleticofa Thanks for your feed-back. I'm hoping it goes smoothly. I'm checking in with other launches over the last few weeks to make sure we have everything covered from that point. 

I will be there at the start (if i am not sleeping ofcourse  ;D )

This!

A huge innovation for the hash tag coin,  if we can make it happen.

I hate trading on crypsty because my coins get lost in limbo, or come to find out that MCXNow exchange closed with no warning.  
And why pay trading and moving coin fees?

A pure peer-to-peer trading platform via coin wallet will make what alt coins were suppose to be: decentralized!

BTC trading within a wallet is a flawed idea, just think it through a little bit and you'll come to the same conclusion. The wallet would have to also sync to the bitcoin blockchain, right? If you guys can accomplish that, then kudos to you but I really don't see it happening. Just my 2 satoshis.

I personally think your best chance is a marketing play. Use the trending hashtags of the week and get everyone to post in that thread on FB or Twitter to promote the coin.

Good luck.

The wallet trading can easily be done through the BTC and Hashtag blockchains with messaging confirmations in the wallets.

Child's play really...

Interesting, that was my concern. So you're saying the wallet will have to download both blockchains in order for it to work?

It's in development... stay tuned  :)

I'm actually really liking this idea if you guys can pull it off. The social media potential of hashtags is endless, not to mention the courageous task of compiling an exchange within a wallet.

Will definitely stay tuned!

Specs look good too.. 50 million coins.

Finally something reasonable!

I don't think the exchange-thing is Official  :-\ It would complicate things IMO. Launch a good, stable, Scrypt-Jane coin first.

It can always be implemented later, since its wallet based.

But this should not be a coin just to make miners happy.

We need innovation in alt coin...you only have to look at the 42 coin for that.

what innovation does 42 have exactly?  tell us all about the great technical innovation 42 came out with?

The main Developer, Hendo, was interviewed about the 42 Coin:
http://www.businessinsider.com/introducing-42coin-2014-1

Might shed some more light on that for you.

Judging from the article (I haven't yet read the specs) the innovations are: 1) the supply of coins, 2) the speed of transactions and 3) the difficulty adjustment time. Isn't that what all altcoins are doing?

Edit: From the specs I see they also had low nominal rewards on initial blocks and random 10x SUPERBLOCKS.

42 Coin is not spec'd out to be a pump and dump scam coin.  

Its the built-in rarity of 42 coins that is the innovation, and more importantly its designed so that miners are not encouraged to mine and dump immediately.
And virtually no premine with a fair and transparent launch.

You need to go on the 42 Coin thread and see whats all about.

I hope that the Hash Tag Coin Dev can learn something about how 42 Coin was launched.  

Thanks for the link Stew.

After the realisation it's probably not going to happen in 9 days I feel realistically we will need to put the wallet as a post-launch rather then pre-launch feature. I have a feeling we will have our hands full with getting the coin to launch smoothly let alone handling issues with new and untested functionality but it's still a huge want. This feature would set a new bench-mark  for crypto-wallets.

Seriously? How is that innovation?


What does exactly discourage me from dumping immediately after mining?

Thanks BTCBull,

Unfortunately our desire to get to market on time means any innovations will need to wait.

In terms of the name hopefully we have the right one.

Sometimes all it takes is a name to be successful.

#coin wallet completed. See update 16th Jan on page 1 for a preview.

Don't forget about Win binary.

That premine is ridiculus, are you fucking kidding us?

Windows QT already finished..  http://rghost.net/51696766

Sync doesn't work yet

Glad to see the pieces are coming together before the launch.

No source yet, but binary is available? Sounds wrong  ;D
Are you in dev team?

Congrats! It looks great.. good choice of icons. I wouldn't worry too much about getting trading into the client before the launch. It would take lots of work and testing to get it right and the 25th is just around the corner. Hope all keeps going well for launch. Thanks. Keep us informed!

Thats what I thought as well. Let the noobs mine this, it will keep their hashes off real coins.

When release?

Will this be CPU only?

Already some ports known?

Don't download this its a virus.

Oke thanx. I had it and my virus scanner didt give me a warning. But i have deleted it.

Good concept, also like the social media potential you need to drive this coin via social media.

Keep us updated about the IPO (if u plan any) and what exchanges do you plan on getting it at to start with ?

Thanks for the feedback Gigacoin,

We will be pushing social media marketing campaigns once the coin has established. This is going to begin in the medium term around 3 months after launch. We want to reward miners/investors who hold onto their coins until the coin grows legs. We will space these campaigns out to generate sustained visibility of the coin in the press. We expect there to be enhanced interest in #coin once we hit social media and hope to attract new main-stream adopters.

People who are unhappy that there is a premine and an IPO should realise we need to cover our own costs for setting the coin up and to pay for ongoing marketing services. I haven't found a free way to do this yet.

Giving away coins to the Cryto-community is one part of our marketing strategy but equally important is attracting new people from outside the community if we want to grow and succeed and, unfortunately, we need to pay marketing and press agencies for that. Sales of coins during the IPO will be used to cover these costs.

If there is a better way to cover these costs I am always open to suggestions.

Over 80% of coins fail within the first year. We don't want to be on that scrap heap and will be here to push the coin for the next 5 years.

Share your ideas. The most cost-effective ideas will be rewarded with a bounty 15 #coins (you need to post it first).

How do we grow the #coin community?


For promotions what is a fair amount of coins to give away and why?(50 mill coins total - 500k-1mill premine)

How do we maintain the network hash-rate into the future? What incentives can we give?


Bounties end in 48 hours.

Thanks for your suggestions.
 

You want to do something different from everyone else? You want people to take notice? Here is how, first you cancel the premine, Then you announce that you will purchase the first 1000,000 coins from the miners. Invest and pay for your advertising just like any new business. Invest your dollars by buying the first million to be mined and use those for give aways, bounties etc.

This will prove you believe in the coin. If you do that, you will cause everyone to take notice in your coin!!  You will not having people screaming, scam coin, premined scam etc. You say you don't know of a free way to advertise, why shoul dit be free, if you believe in your business? Do it, you will be amazed at what happens!

Make a hash tag favicon for your website URL. I bookmarked your site and noticed it's missing. Favicons don't get any easier than yours :)

Will definitely be keeping an eye on this thread.

I'm new to the crypto world and here's a couple things I've liked so far with some coins.

A chat in the wallet like BIL coin
A Dev who is active in the community

I've noticed after a coin releases most devs disappear and then the coin dies!
Also the chat room in the wallet is not a must have but it is a feature id like to see in more wallets.

Don't listen to this guy, just another greedy miner. I find it funny when miners cry premine and then they themselves get to mine the early blocks which is pretty much a premine for them self.

There is nothing wrong with responsible premine (1%-5%)

Greedy greedy miners

Nice idea, no risk whatsoever for the miners, all the risk for the one who creates the coin for all of us and does all the work. The only ones who are guaranteed to profit are the big hash farmers.  ???  But yes, people would notice if that's all that matters.

How do we grow the #coin community?
The website and the video are very good. More videos? Starting guides? Social media is obvious, but I would add a Reddit page. Maybe a forum. Block explorers. IRC channel.

For promotions what is a fair amount of coins to give away and why?(50 mill coins total - 500k-1mill premine)
1-10000? Giveaways and Faucets (someone should do one).

How do we maintain the network hash-rate into the future? What incentives can we give?
As long as pools support you. Making sure to communicate with the pools, especially at launch. Post in a new thread the day of the ANN as this thread is pre-launch.

I think this Dev is well intended with the launch of this coin, and hoping that
there will be something different than the dozens of clone coins launched every day.

Will be keeping an eye on what really makes this coin different than the standard pump
and dump coins that are mined from Mom's basement.

Good Luck.

#can'twaitforit

#hashtomoon

Awesome site, good video... actually looking forward to this.

Hmmmm... As much as it much more personally benefits me if any giveaway is forum specific, I think give away should likely happen by a faucet, and perhaps linked or add buys on the some of the btc faucet collector sites like landofbitcoin, etc.   That will reach some people that participate lightly, but don't perhaps check the forums every day.   Maybe also make a few smaller faucets with higher payouts , that are only annouced via #coin twitter, or random prizes to people who tweet #coin, something along those lines to take advantage of the name in what might be its natural habitat.   It might drive some non-crypto people to the coin.

premine?
not thanks :)

I'm keeping my eye on this. Sounds good.

Interresting.

I think this coin could have potential, but only if you get some features that make use of the #-tag. Nobody cares about another bitcoin fork, that time is over.
After I first read about this coin I had some ideas that I want to share with you:

1)Use passwords to generate adresses like nxt coin. Bitcoin adresses/priv keys are impossible to remember so name adresses like nxt-coin.
If you are afraid people are too stupid to do it safely add a 6digit random nummer to the users choise. This should make it impossible to brute force wallets unless you know the password. If the user forgetts that number he can still recover the wallet by brute force though.

2)Allow users to set a arbitrary adress to recive funds. (like real hashtags)

For a fee you can permanently register a new hashtag to the blockchain. Everyone can use that tag so nobody owns it exclusively. Every adress can enable just 1 hashtag and will get a chance at the donations to that tag. Donations could be directly or a share of a txt-fee if the sender includes a tag, otherwise nobody gets it. Free change with every txt, leave it or donate it.


The tricky part here is to prevent a 100gb blockchain/month so you can't save all and ever info, but that's not needed. The idea is a bit complex, but in short it's the following:

Every day the funds of each tag will be given to one random adress of that tag. That's just one txt per tag that is generated so there isn't much data here. After that all those "enable hashtag" are removed and you'd need to enable it again. This allows users to delete this from their HDD since it isn't needed anymore. Clients could also ignore it completely, but miners must process it. No cencorship.

This would also allow timestamp the whole chain so txt on #coin could be as safe as on bitcoin!

If you are interrsted i can go more into tec details, but as far as I see it there are no drawbacks other than 1additional bit per txt and people sending useless txt for fun.


PS: What's about the IPO? Can you give more details?

Some thoughts on the premine-

Ignore the people who go "Zomg- premine, never work, failure"  If one wants to look at it that way, when btc was new and only a tiny group knew about it at first, they got a premine with difficulty changes that were much slower then newer coins go though. 

Lower % premine is better, coin dev's deserve their own -modest- share of coin.     Review digibyte's premine giveaway, very transparent and open with how they gave away coins, its a good model, however, maybe space your giveaway's/ammounts out, and lower then, I think they went through approx 75% of their giveaway fund in first week alone.

If it is scrypt Jane does that mean we will be able to use the qqcoin miner?

What is the pos rate going to be?

Since this coin is all about the hash tag, how about building an app that sends a hash tag coin transaction via twitter?

Just thinking outside the box here... :)

Actually... I could see how ideas like this, along these lines, could work. Linking into APIs. Interesting...

Interesting idea, no so comfortable name, though, but it has its pluses, it will be first in exchanges name tables LOL  ;D

The Developer is creating an IPO to raise funds for everyone participate in, to help fund coin development.

That is going to require a pre-mine for the IPO funding. 1% seems reasonable for limited quantity of 50 million coins.

URGENTLY required. We are aiming for a good launch first off. We need someone with either working experience or extensive technical understanding of security issues that could affect our coin, e.g forking, how to protect nodes from DDOS, how to discourage miningpools, and provide ways we can prevent or solve them should they arise. Please PM me if you think you could be of assistance.

Note: you must be able to advise on the remedies and not just point out the problems. We are looking for all bases to be covered not some of them so please bear this in mind. Renumeration will be in #coin.

Quick Update:
Thanks for your continued support guys. Your feed-back has been noted and will be responded to. I have had a hectic week with a few things in my real-life. Travelled interstate, had my B'day and worst to come we have a long weekend coming up.

Bounty payouts: Will be announced on Friday. Guy's thanks for all the new ideas. Realistically they will be considered after launch once the coin has its legs. But some really good ideas and I will respond to everyone personally.

All the concerns about premine have also been noted and I will get back to everyone on Friday for a more detailed discussion to figure out something fair we can all agree on.

cheers

Thoughts on premining

As a rough guide and for discussion Here was what I had in mind.


0.5-1% premine - (250-500K#coins).

Divided

55%(137-225k) for ongoing development and promotion (Budgeted for over 5 years)

15% (37-75K) Giveaways over 3 months
22.5% (54-107K) IPO
7.5% (16-32K) Fees over the life of the coin.

All expenditure will be available on a public ledger.

Feed-back welcome. I'll also take a vote on 0.5% or 1%.


EDIT: Correction 22.5% should be 54k-107k not 37k-75k as originally stated.

Thoughts on IPO


107k#coins released as 107x 1,000 coin bundles (half this if 0.5% decided on). Max 50 million ever in circulation.

Suggestions welcome for the starting price in BTC for a 1,000 bundle block of #coin.

Note that it will take around 4 days for the miners to mine this amount of coin.



Where will this money go? This will be invested back into promotional services. We are pushing to get publicised outside the Crypto-community and have engaged 2 agencies for this.

Edit: Correction should read 107K#coins and not 75k.
Correction - 10,512,000 coins will be mined in the first year. It will take around 4 days not 4 months to mine 107K #coins.

I say this is fair especially when op is clearly transparent and open to suggestions. I think this would be required to stimulate the economy and motivate the developers. A lot of people don't know what goes into the job of a team launching a new coin. In general for all new coin launches, I don't agree with massive amounts of premine/instamining due to possibilities of large dumps from the team and manipulation possibilities.  This is a pretty fair premine launch discussion.  You have my approval..  I would like to contribute and collaborate with the IPO, I want to be a stakeholder... how do I do that?

Hi Maco,

Thanks for your early support and your kind feed-back. I've booked you a spot on the IPO and will keep you updated in PM as it matures.

Edit: Please note the corrections in the above quote.
-Correction 22.5% of 250k-500k should be 54k-107k not 37k-75k as originally stated.
-Consequently the IPO should read 107K#coins and not 75k (53k if 0.5% premine).

If #coin uses Scrypt-Jane, is there a GPU miner when launch # coin? We all know that GPU miner is much more powerful than CPU miner in early days.

Can the Dev give a Release time. Also timezone.

As per Maco, please put me down for an IPO stake as well.

I am very excited about this coins potential.

Thanks!
Stewart

 

why don't you be honest to people and write there, most of the premined coins are for your lambo. dreams?
won't argue on all of dividents but...
.
7.5% (16-32K) Fees over the life of the coin...

this is bull*.

fees - expences for hosting-nodes ext. will have same value. they wont change with your premine %...

I think this is too much

55%(137-225k) for ongoing development and promotion (Budgeted for over 5 years)

I see some concerns for the amount of the pre-mine for the coin's development.

The Dev has mentioned there would be a public ledger for all the coin expenses.

As time goes on, we will get to see the breakdown of expenses, development, promotions and other costs, which will
be a refreshing change versus the other alt coins that are very mysterious about their pre-mines.

For me, that fact alone makes this coin very attractive for investing in.

My 2 Hash Tags...

Please, I'd love to see a scrypt-jane!!!

Also do lower premine, it will help the coin a lot!!!

** The launch date has been postponed for 1 week. Its the long weekend in Australia and I won't have my other 2 colleagues here to assist with the launch as they will be on holiday. I also want to run the IPO properly so having more time will be beneficial.

Have patience the wait will be worth it.

It's a pity an Aussie coin couldnt launch on aust day but I will be supporting u from qld.

Please put my name down for ipo. Thanks

like C#

Way not make a tweak to the scrypt-jane algo for the first 10000 block's, so only wallet is able to mine. Then we will have a soft start, and no rush for pools. The coin will settle, without the trouble with pools from start. If not, the first pool to compile will win all the first coins. And every one not on that pool will scream unfair launch.

Look at Vertcoin https://bitcointalk.org/index.php?topic=404364.0 They had "CPU wallet only" from the start, and I think its one of the smoothest launch I have been on. And the coin is going very well :)
 

Awesome advice Nick & KJ let me look into that.

Looks promising, subscribing :)

I think this is a fantastic idea.

Really looking forward to getting stuck in with this coin when it launches tomorrow. Big fan of scrypt-jane.

FYI - launch date moved to 1st Feb

Just saw - no problem. :)

Love the website, amazing work. Subscribing and will be mining!

could be interesting

waiting for it. 

How do we get in on the IPO?

I'd like an IPO stake as well, as long as the price is right  ;)

1% premine will be accepted .
 
and where's stake come from?

1: from trade fee?  ----i think no way
2: set up a other stake pool. ---maybe need control output speed of stake/

i'm interest in IPO ,please take me down

my suggestion:
please don't call it premine, you should call it IPO.

and the changes:
1-10% IPO of all #coins (NOT PREMINE!) (500k-5m #coins)

100% IPO (500k-5m #coins)

0% for ongoing development and promotion (Budgeted for over 5 years)
0% (37-75K) Giveaways over 3 months
0% (16-32K) Fees over the life of the coin.

-why is it better?
big investors will make giveaways from their own shares, because they want the coin to be big, so you should spend coins for giveaways, the community will do it if they want to see this coin success.

you dont need to reserve #coins for fees and development, because big investors and developers who will get #coins will take care of it, and if you still need to pay the fees you can use the BTC what you get cause of the IPO.

all the coins what ever be made with the title of 1%-10% premines are all dead, so lets make the first coin with the 1% IPO tag and the other 99% are POS/POW tag. There is no any coin with this titles, #coin going to be the first.

you should make a ratio based IPO, so all the 500k coins distributed based on the senders btc rate of the all.

IMPORTANT:
if you call it premined its just dead. please change all premine titles to IPO, and distribute all the "premined" coins to the IPO, don't reserve any one to yourself and to the developers. if you still need to pay the fees you should invest to the IPO too, or you can use the BTC what you get from the IPO. JUST DONT CALL IT PREMINE, AND DISTRIBUTE ALL THE COINS, DONT RESERVE ANY, NEITHER 1 IT CAN KILL A COIN IF A FOUNDER RESERVE ANY NUMBER FROM THE COIN!! IF YOU NEED COIN FOR HOSTING USE THE BTC, THE BIG STAKEHOLDERS WILL DO THE GIVEAWAYS PROMOTIONS AUTOMATICALLY, YOU DONT NEED

premine is premine whatever names you call it.

Some pool on launch?

Large red writing really won't do you any favors..

so, its still a scypt-coin

PLEASE post launch time.

i hope there should be more new applications for this coin ,and with more support by DEV team ,and premine should be control under 1%.

Need launch time!!!

No updates on launch day? Dead coin before it even started?

Do'nt be afraid. In 48 hrs #coin will be born. Please use the date-stamp used by the forum not your local time - its just confusing.

Don't panic about the launch time. There will be only 0.01 coin rewards for the first 10,000 blocks. This is to prevent dumping for the first weeks on launch. It's also designed to protect stakeholders and their investment. #coin will be here long after the launch so we are always thinking long-term.

Stakeholders for IPO - I've noted your names from here and PM. Details of the IPO will be released on 1st Feb. This will be run for 2 weeks.

I am getting alot of messages in PM which I haven't responded to, I am not ignoring you, I've read them, please let me get back to you soon as I need to decide on your offers individually - they are appreciated.

Follow me on twitter to receive the latest spec information to be released later tonight.

To a fellow Aussie to Another ;)

Maybe you could get into contact with Twitter and ask them if they would be interested in rewarding people with #coin (hashtag coin) per post kind of like a faucet and then twitter can implement a game and payment system for #coins, the games would be free kind of like Facebook games but if you want to upgrade or buy certain items etc, you just pay in #coins you could even get rewarded for playing the game or buy rewards (#coin)......

If it gets popular Twitter could make a killing and then charge #coin for ad-free versions of twitter games...... dunno if this will happen till after it get's popular though.

I just thought since Twitter started the whole hastag # endeavour.

+ you could sell it to Twitter and become super rich lol

Any idea yet how much for the 1000 coin bundle? I might risk 0.1 BTC. :)

I appreciate you asking.
I have been studying this zoo here for a while now.
Do you want to read some ideas? I know I am late. But it's not started yet.



If it's arbitrary to you, then change it to a much shorter intervall than 868 days.

Why?  Inflation.

Look at a few dozen coins on cryptsy. Man, look at all of them, on a month scale.
The majority is loosing value. That has many reasons, of course. But one is this one:

If you put out more coins per day than (the market wants to eat + the miners want to keep),
then what happens is ... the price falls. Simple.


Almost everything is happening in the beginning now. You make it right away, or you don't.

So: To make your coin more precious, you could go for the first block reward reduction early, the next one a bit later, etc.
What would happen if you extend the time between two reward reductions each time a bit more?



A small premine, distributed in small (not to spoil the price of the coin) amounts to many hundred wallet downloaders is an important incentive; and used as small bounties for infrastructure builders (addnodes, block explorer, pools, faucets, logo-designers, sourcecode readers in case of problems, payments systems, ...) can make sense if used transparently, and responsibly. I have seen that go well with some coins, and not so well with others. And I have seen coins without premine starving due to the lack of paid support.  

You want a vibrant network of participants who are investing themselves into your coin.

You can impress with a small %-number, I guess. Bounties don't need to be huge. Always compare how much the premine it is compared to the total market, in x weeks. You don't want to be seen as dominating the coin for too long.

If you hand out premined coins in large amounts, try to (partly?) time-lock those coins somehow; early dumps destroy any hope for reasonable prices, then people leave, that's it, coin dead.  To time-lock away some of the IPO sounds bad for the coin owners - but it's actually good for them, like it's good for everyone invested into the coin, that you prevent that one or two of your big fish can start massively dumping early.


Think shorter. And if your coin is still around in 5 years, you'd probably be
able to do almost anything with 1/1000 premine, or 1/10000 or 1/100000.



sounds too long. Half a night was good enough in other coins.
Make it 24h, then every timezone can have learnt about the start.



! I might be totally wrong with some of these thoughts.
But perhaps I could give some ideas what to think about ?


Good luck with your coin start!

http://files.overclock.net/images/smilies/thumb.gif (https://bitcointalk.org/index.php?topic=395004.msg4690974#msg4690974) (click)

Miner has a purse?

when to begin?

Way way to much blocks with no reward. Yes you want to prevent it from being dumped and protect your investors. But for a coin to succeed you need the little people. (the miners) No miners, no coin You want the miners to invest in your coin and give you all of their combined hashing power. yet you only think about returning BTC to your stakeholders.

Im not saying blocks shouldn't be less in the beginning. just saying that 10k blocks is way to much.

+1

i´ll wait until 10k block,  if the difficult its huge then switch another coin, if low then i´ll mine.

+1
10k too much

I not going to mine the first 10,000 blocks then, it will take very long time then for people to take it to the 10,000 block.

10K is too much of a wait...why mine?

Then there's not much point
What's the point in doing that? Everyone will just wait up until the 10,000th block and then start mining it... the difficultly will go insane, and nobody will want to be apart of it. If you're going to do this, make it gradually increase so it would encourage everyone to mine from the start.

Same here. I will wait. And I think a lot of is miners will do that. Because of that, the coin will not lift off,looses intrest.

Yeah if I have to wait 10000 blocks, that could be weeks.. You are actually going to destroy the IPO, because the general mining public will lose interest in it, and you have other coins set to release like ultracoin, which will just erode interest, you are taking too conservative of a route.

gotta be a joke

Just because the general mining public got used to instamining and doesn't realise the benefits of a slow start doesn't mean this coin is doomed...

Guess we will have to wait and see....Remember to come back just before the 10K :o

We don't want miners who come for the easy pickings when difficulty is low and then move onto the better coins after 2 weeks. We don't care for the miners who pump and dump on exchanges. The only miners we care about are those that will be here over the long-term as they see intrinsic value in the #coin brand name. For the rest, this probably isn't a coin for you. As I mentioned, the investors, who have put their own real money into #coin, have the right to be protected from a flood of coins immediately devaluing their investment. This launch is going to be a slow-burn not a panicked rush where a few "professional" miners benefit from being here the day the source is released. Having said that I am negotiating with the developer to have the reward amount raised. There are 576 blocks in a day, 4,032 in a week so 10K blocks will take us to 2.5 weeks. During this time I we will be running the IPO and maintaining awareness for other miners who have yet to find our launch thread. Feed-back is welcomed if you feel there is a better way.

What if instead of going from a very small block reward to full reward all at once at block 10k, increase it every let's say 2k blocks? That might create multiple anticipation points and gain momentum each time. :)  That would keep miners' interest up for longer maybe?

Good feed-back illodin. I'll put that to my team.

So with 500K premined, it's going to take over 2 years to match what you premined?????

Blocks are every 2.5 minutes. That's 576 X 2.5 minute blocks in a day. That's 4,032 blocks in a week. So there are  4,032 blocks in a week  X 52 weeks in  a year  = 209,664 blocks in a year. Block reward is 25 coins initially so at 209,664 blocks in a year x 25 coins block rewards = 5,241,600 coins in the first year (roughly).

It will take 35 days for miners to catch-up to the premine.

yea 2 years or 1 month.. not much different  :D

Yeah, so ignore what I wrote, I was looking at blocks not coins. #mybad #facepalm #dumbass #nevermind #idiot

#sobad #suchpalm #muchass #nomind #veryidiot #hashtagcoin

 ;D ;D ;D ;D ;D ;D ;D ;D ;D

#truthhurts

#lovehurtsmore

How much time?

Actually, block rewards are .01 for blocks 2-9999. http://hashtagcoin.org/?page_id=32 (http://hashtagcoin.org/?page_id=32)

.01 times 9998=99.98coins.

10000blocks divided by 576 per day = 17 days. (Ridiculous)

That's 17 days to get close to 100 coins.

499,900 coins to go.

576blocks times 25coins = 14,000 coins per day

499,000 divided by 14,400 coins = 34.71 days to reach 499,900 coins.

  34.71 days
+17.36 days
-----------------------
  52.17 days to reach your premine total of 500k.


Thats 52 days for the float to equal your pre-mine!

You do the math! Please correct me if I am wrong.

Feel free to tip me for pointing out your errors.... In BTC of course.
1MtzUmKZiK14pE5hgsEs2W7wBLZroYjFcT

Hahaha.... this is wrote guy who premine 500k coins?

same guy

I am delaying the launch until I figure out what the right way to handle the initial rewards are. Let me get this right for everyone involved. Either that or we can do a relaunch once we see how this one goes. Your thoughts?

Just launch as soon as possible man.

What about the IPO, or was it for the big fish only as I was planning to invest maybe 0.1 BTC :D

..

Set low reward for first 500 blocks for insta mine and normal reward for 500+ blocks.

And please launch asap & post launch time!

Feb,1st..... No any news?

Just launch the coin man, what are you waiting for?

waiting for miracle  ;D

I think u should delay the coin, you need to sort out everything before launching this coin. There is no need to hurry.

Today is the launch for a lot of coins. Better wait ;)

Don't wanna miss it... What time is the launch today?

Follow my instructions and you will never miss it

2% fee... and also ask 0.5-1% donation.. you are greedy.

That was old, just removed ;D
I asked for donation when the fee was 0%.

Launch the fucking coin please  >:( >:( >:(

delayed launch is no problem, but it was already delayed 1 or 2 times. Also, developer do not post any info, he's kinda not pesponsible. That's a bad thing.

I guess you clery didnt read what I wrote before. Again! I stated that yes you have to protect your investors. yes cut initial rewards is good.
But i also stated that miners are also investors. Miners are the ones who have to point their rigs to your network. We invest our time and some of us have invested real money into our rigs. One must never forget about the ' little people' . If the little people are to strike, you have no production and no value. We too want to see a return on our investment! Tired of seeing same story. People accusing miners of being the scum of the community while we are simply investors who have to pick a coin and hope we get a return on our investment as well.

again not saying you shouldn't try to prevent instamine, just saying  10k blocks is too much

To be honest dude, I no understand  ;D
Launch the coin already, I don't know what are you waiting for.

just gradually increase the number of coins per block from 5 to 50 for the first 2-3k blocks

Yes its a good idea, increase it gradually instead of make it constants low will attract miners more at start too.

+1

Correct me if I'm wrong, but this will only produce approx 29,000 coins per day (576 blocks) if Kimoto's Gravity Well keeps the block time on target at 2.5 min. Given this, a 10,000-20,000 block premine is ridiculous. 500,000 or 1 mil coins compared to block reward of 50 max and OP will have a very large share of total coins.

This is where Aliencoin screwed up, greedy premine (compared to coins mined in a reasonable time frame) killed his coin

Multiple delays are not a good thing for adoption. See: Duke Nukem Forever.

That's a 1 or 10 joke.  Either it's a 1 and you don't think it's funny (don't get it probably) or it's a 10 and that's hilarious.  I think it's a 10.

IPO date?

Obviously, we have different CLOCK as dev's......

Hi, dude, you've just been played.

dev? launching Feb 1st still as mentioned? Anything wrong? delayed? Was this just the most epic troll ever to get our hopes up for a decent altcoin at long last?

Very un-australian mate!

Bloody hell mate, I could have Launched a coin already with a similar name, chosen what to do about the premine, used gravity well in the difficulty, wallets compiled, nodes up and boom DONE !

Its that easy...what's the trouble ?

No announcement one way or the other?

fuck your!Cheater

Please do it and release it :)

Everyone is waiting anyways. Cheers mate

Twitter page says launch delayed....The dev wants a fair launch for both the investors and miners...

Please contact us at least for show that you read the posts.

I think it's fair to say this coin is a non-starter.. It's a shame as I really wanted it to work out.

It is running now or not?

Not...
We waiting for the release date and IPO.

It's either ready or it's not. Evidently they have other things to prepare for before the launch. Just be patient. First few days there is no block reward anyways, so jus check back periodically.

Its now delayed by 5 days  ???
Any update?

Yo dev! Holla back!

I hope nobody IPO'd

I doubt they got a single taker otherwise those that paid up would be screaming from the rooftops by now. DOA

Nicely worked out.

can you keep us updated on here?

I will, but you will know when the coins is ready. To others please don't accuse #coin of taking money off investors - we don't and have never done that. To the Chinese fellow who said "Fuck your! cheater!".. please don't be upset.. I have not cheated your of anything....Please be patient, I know it is hard for you but try. To the rest, Twitter is the best place to get notified as to #coins progress as we are there more often. To everyone else please stay calm and remember, #coin is coming and you will be the first in the world to know...

just was on chat with a moderator of  https://mcxnow.com/ (https://mcxnow.com/?r=gcr0n) he said he will check out this coin

still waiting for this coin,moving fast ,please!!

day  after day....

Just a little patience folks. The Dev has done everything to make this coin as open as possible.
I think we will be well rewarded if we take the time do this right.

About algo, I have a question.
How will the N factor be set?
And how long will it take when CPU mining efficiency can catch up GPU ?

Impressive name, twitter users will like more :-)

What's your Twitter username?

so.. do we plan to launch HASHCOIN

Hashcoin, what is a hash, think about it ;)

This is the longest I have ever waited for an altcoin launch.  :D

Better late then never! And also better done right then wrong.

Have patience ppls, #coin will hopefully come soon. :)

Is this coin gone?  :D

Looks like things have really come to a stand-still haha

What's the hurry, it's still at least 5 years before cryptos are ready for mainstream. :)

is this project still alive?
I'm still watching it.

It's a pity, the marketing video on their site made them seem promising.

+1

Needs hype, marketing & business plan!