10 payments of 3.1 on top of weekly interest payments (0.310,0.279,0.248,0.217,0.186,0.155,0.124,0.093,0.062,0.031)
10 payments of 0.5 on top of weekly interest payments (0.05,0.045,0.04,0.035,0.03,0.025,0.02,0.015,0.01,0.005);
Staying on current payout, paying interest only this week (0.124 + 0.02) - need the funds elsewhere for next week  Andy EDIT: oops messed up sending what to who (e.g. sent 0.124 to where should of been 0.02 etc)- so going to pay back another week of the 0.5 for simplicity, and top up the 0.02 to 0.124. Andy 10 payments of 3.1 on top of weekly interest payments ( 0.310,0.279,0.248,0.217,0.186,0.155,0.124,0.093,0.062,0.031) 10 payments of 0.5 on top of weekly interest payments ( 0.05,0.045,0.04,0.035,0.03,0.025,0.02,0.015,0.01,0.005); |
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Hey Thought i'd take a little time before replying and thinking. File sizes will be a huge issue here.
Are we expecting people to store the aux chains on their hard drives? Wow that could be a tough problem to solve.
Say there are movies that have been uploaded into the chain.
Curious how the aux chains work if the file sizes of an aux chain > MAX amount?
Possibly, the idea is, not everybody has a copy of all the files. I guess reward for serving files/chains, and, retaining less-commonly downloaded files equally, but aslong as the host has the full main chain, they can select how many smaller chains to retain also. Instead of using aux chains you could use a DHT (Distributed Hash Table).
Possibly, but need to think of a way to verify that host x has a full copy of file y, also, the idea of an aux chain may allow the client to download from n hosts, splitting their fee between all n. Still valid idea Thinking crazy here:
Is it possible to use the IP packets for "mining"? The more the aux chain is downloaded (generating IP packets), the more "mining" occur on that aux chain, generating FileCoin for that file provider.
Not really, as IP is too low to verify who sent what, just modifying the header would blow things up. Obviously the backbone connection and hosting companies can offer bandwidth and storage cheaper than those who they sell it to, but I guess if some of their customers are paying for more than they use they could get some of it back by selling even if they sell "at a loss" since its a loss they otherwise have to eat the whole of anyway.
-MarkM-
I agree, but, the same way the hardware companies could make custom asics. Anyway, im starting drafting a white paper for this - really would like some input around what to hash/authenticate/key procs s.t. can validate host retains n copies, and only client with key can download file. |
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Next build improvements:
1) PoS v0.3 protocol
2) getblocktemplate RPC support
3) built-in scrypt miner optimization
You mean PPC v0.3 protocol? |
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Will be updating later on this afternoon =) gj.
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cant wait for the new protocol |
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10 payments of 3.1 on top of weekly interest payments (0.310,0.279,0.248,0.217,0.186,0.155,0.124,0.093,0.062,0.031)
10 payments of 0.5 on top of weekly interest payments (0.05,0.045,0.04,0.035,0.03,0.025,0.02,0.015,0.01,0.005);
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In response to this post: https://bitcointalk.org/index.php?topic=81542.0 by PatrickHarnett which is was stickied in the "Long-term offers" section, a misnamed Ponzi-corner of this forum which contains nothing but scams. Well I was right about BCST and I'm going to be right about all these too. Here are a bunch of Ponzi Schemes, all are poorly executed and all follow the standard Ponzi 101 model of having a totally obscure business plan with a totally outrageous interest rate. I will be making spreadsheets for each scam showing why they cannot pay the outrageous rates. Ponzi Schemes & Similar ScamsHonorable Mention:Dank and his various, odd scams that even the guys that got rolled by Pirate wouldn't invest in remember all these guy!?? let's not let it happen again - fight the "deposit takers" at every measure! I only remember that vescudero remains a reputed trader ... Excuse me? |
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As an honest question- what was the point behind creating NVC in the first place? ???What was the inspiration/reason?
I like Proof of Stake/Proof of Work hybrid design, and I want support this idea by alternative implementation. It was only reason to create this project. There is nothing to hide. Then why premine _at least_ 110k? |
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Only 110k was "premined"?
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It's probably more than 110k. Isnt that a number someone predicted, then, the NVC dev said "oh yeah exact 110k, but it's fine was sent to BTC-E"
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I don't recall seeing a transaction like this in the first 2000 or so blocks, but you guys can have a look later today. I will upload the sqlite Abe dump of the blockchain in this thread soon.
Awesome, I may look at this too. inb4 claims "Oh we just sent them the wallet". |
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All the coins NVC mined Balthazar (110,000 coins) are in the guarantee fund exchange BTC-e.com
How many NVC has already generated much today? How many NVC is generated per a day? Nothing compared to the initial 110k. novacoind getinfo { "version" : "v0.2.2ppc-5-g06de9fe-beta", "protocolversion" : 60002, "walletversion" : 60000, "balance" : 0.00000000, "newmint" : 0.00000000, "stake" : 0.00000000, "blocks" : 6078, "moneysupply" : 272951.15178000, "connections" : 48, "proxy" : "", "ip" : "[removed]", "difficulty" : 11.09828058, "testnet" : false, "keypoololdest" : 1360607149, "keypoolsize" : 101, "paytxfee" : 0.01000000, "errors" : "" } andrew@engine:~$ date Thu Feb 14 10:43:25 CET 2013 I think we can also assume the hardware mining the initial 110k did not just "switch off" after the 110k. I'd be willing to bet closer to 200k is in the same person(s) hands - so about 74% of the currency (currently). Im going to put up a proofofstake.com page with NVC metrics later, this should indicate all of the above. |
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The rate NVC/BTC is gradually stabilized every day. The general trend is upsurge.
Can you explain why it would upsurge? (e.g. why the demand?) |
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I disagree with this move by BTC-e, adding PPC would of made more sense, and something smells fishy in the whole setup.
Conflicting interests, large amount pre-mined before community can use - for what reason?, based on broken code git-clone'd - dev's havn't "developed" anything.
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btc-e and nvc-dev team should send all those coins to oblivion address like 4PreminedNovaCoinEaterNfC4rF1b and everybody would go silence.
Good idea, on another note, has anyone ran a tx checker yet? To check that the said 110k coins were even transferred? |
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Can someone please draw up a mint / time graph?
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Sunny, can you keep track of the bounties in the op?
Andy
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I have been around for a while, and have been pondering creating a new alt crypto currency. Most of the crypto currencies out there are mostly rehashes/param changing of Bitcoin. This hopefully should be something different. I'd like some input on my ideas, and which things I'd need to look at.
It's a distributed file system crypto currency/chain.
Files are stored in aux chains, clients are not expected to host all aux chains. The network must maintain at least N copies of all aux chains.
Mining the block chain itself provides reward/currency into the market.
Uploading a file costs an amount
Downloading the file costs an amount
Rewards given to people who keep copies of complete aux chains on their system, and provide accessibility - e.g. some formula after each block where some reward is given based on number of aux chained (would have to be verify-able) and number of downloads, again verifable.
The main chain would include a list of "downloads" of the aux chain/files - e.g. if aux chain n was requested with correct key k from a server identified by some key, then, that key would get a reward during block generation (basically the sum of the "cost" paid by the user to view the file - allows biasing towards serving ppl that pay more). Only the person with the correct "key" for a file can request a download said file.
I'd probably write the app from scratch instead of forking.
Anybody got any input? Can anybody see any key problems / hurdles i'd need to start looking at?
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Curious what the point of creating a checkout system when the POS algorithm hasn't been proven publicly that it can hold its own without checkpoints.
Just seems backwards...like the chicken and egg problem. But only difference is having a shopping cart or Point of sale system needs security first before it makes sense to use.
So when was the release of the new PPC POS algorithm?
You are quite correct although you miss the point that's exactly why I am organizing bounty project and not working on it myself. Instead I will concentrate on the security issues and client features. Release is very close. Likely in a week or so. Can there be some sort of public discussion of the POS alg you developed? Why not? Ask these questions in the relevant thread? |
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If there needs to be bitcoin 0.7 features I could provide patch support before ppcoin's refresh to bitcoin's 0.7.
Also, there's a patch I wrote that provides all these features which the cart could theoretically need, somewhere in the orig PPC thread. |
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