Are there future block reward halvings / emission reductions?

main.cpp:1483-1499 doesn't indicate any, where else should I look?

Suggestion: when mining is BN only, can all tx fees get added to the asset backing?

Reasoning: individual BN ops aren't going to be greatly affected, they are already paid their share of the block reward, but a steady trickle of fees over time will help the currency's backed %, making it that bit more appealing to investors.


I don't know if this would complicate what's currently being worked on, and it's not anything urgent, just a suggestion for some time in the future maybe.


On the subject of BN reward though, since BNs will in future be using presumably ~100x more CPU each, is there a case for upping the BN % a little to cover running costs? Running multiple BNs on $2/month VPS instances is no longer going to be an option.

Linux builds had the same problem, probably due to the issues bitcreditscc mentioned in the post of his that you quoted.


I would be ecstatic if bitcreditscc ditched PoW altogether; maybe PoW has it's uses, but trying to apply it to what's hoped will be a widely adopted system is flat out stupid. BTC, DASH, every other PoW system will fail, PoW is absolutely the wrong tool for the job.

Seriously, try explaining to anyone outside of the cryptio scene how wasting megawatts of power daily to process 7 (or 700, whatever) transactions per second is a good idea... you will get laughed at, and rightly so. And that's before you mention that pooled mining completely circumvents the whole supposed point anyway.

When co-operative mining is working, we'll at least minimise the waste and hopefully avoid a lot of the issues that have been affecting users. Competitive PoW is one of the reasons why BTC has achieved so little, and is now indistinguishable from any other Ponzi scheme.

BCR is aiming to be better than this.  

While bitcreditscc is hard at work with the difficult stuff, a quick visual reminder of how the bidding system might influence BCR's price in the short term:



If there was a vote on it, I'd vote to burn the 6 million reserve BCR as it makes quite a difference to how well backed the rest of the currency supply is once bidding is properly up and running.

I haven't refined my simplistic model since I first posted about it, today I just had enough time to wrap it in a GUI and add some simple graphing. I'll try and work on the maths a bit more, currently it seems wildly, exponentially and outrageously optimistic out beyond 12 months...  

I know there are some people working on marketing and promo stuff, if anyone else can come up with a good way of getting the message across to miners that throwing money away on electricity is a bad idea when they could be investing in and therefore directly backing a currency instead, please chime in.  

I think there's a big miner out there who keeps mining, either deliberately or ignorantly, on the wrong version/chain, and broadcasting bad data, which is causing problems. The dev is working on moving all mining to BNs only, but this is a(nother) big step and might take some time. 

When it's done though we'll have the most secure and efficient blockchain security system out there, which combined with real asset backing via the bidding system (and BCR's p2p banking functions) will make BCR the first cryptocurrency that's actually a real investment backed with real stuff, not a speculative gamble backed by prayer.

The dev is a hard worker and has plenty of skin in the game, I'm happy to give him time to do his thing. 

Yeah, there are some kinks still to be worked out.  The dev and team are on the case.

Instead of distribution only to miners, who spend lots of money on mining hardware and electricity bills, BCR is distributed directly to anyone who bids for it. The money that miners would have spent lining the pockets of hardware and utility companies goes directly to backing BCR instead.

Initially it's BTC/LTC/DASH that will be held as assets, jointly owned by everyone with BCR, and administered when needed by a quorum (currently it's a 3-of-5 multisig setup) of BN owners. There will follow bidding via fiat currency gateways too.

Personally I'd like to see most of the BTC/LTC/DASH/fiat converted to PMs - ASAP, because I frankly see no future for any fiat or cryptofiat currency backed by nothing but speculation and hot air - and held secure by companies that specialise in that, with, again, those reserves being accessible only via a quorum of BN owners.

BCR will have it's own voting system too, so all holders will have a say, probably proportional to their BCR balance.

Every 900 blocks (appx. once a day) there's a superblock, to distribute the day's newly minted BCR to whoever has bid for it.

Soon all tx validation will be moved to BNs only.

'Mining' is being axed as a distribution mechanism in favour of a less exclusionary bidding system, where anyone can acquire fresh BCR, not just geeks with fancy hardware (and parents to pay the electricity bills.)

What's going on here?

This is a BN wallet that I've loaded, but the BN deamon itself (remote, on a VPS) is offline, and I'm not CPU or GPU mining on this local box.

edit: nevermind, it's decided it's a banknode locally as this is the IP address it was originally launched from...  

So I send x DASH to Xypcx2iE8rCtC3tjw5M8sxpRzn4JuoSaBH, then after the superblock, I import the DASH privkey of the DASH address I sent from into the BCR wallet?

Consider my tiny mind boggled. 

p2pool.website and bcrp2pool.website are maybe down? Seems so from my browser anyway.

I started throwing some BN payment consolidation txes about @ 200245, hopefully I didn't explode anything.

Sounds silly, but make sure you're in the right directory first and have run autogen.sh and ./configure? I've done it...

I paste the whole lot in as one line:


When I've had libc++ errors, this has fixed it for me:

Try

Failing that, I've uploaded some linux binaries here: www.thebuckstop.net/BCR

Still syncing here or would have uploaded the blocks folder too.

edit: to answer previous question, blocks folder should be OS agnostic, just copy it over.

OK, as soon as I've got my local wallet sorted I'll bootstrap all my BNs from that.



I can't wait to give this a go. 

Welcome back dev!

Just built from the latest master, ran the qt client with --reindex and got as far as block 200000, then stuck. Will try again having deleted everything but my wallet.dats and bitcredit.conf file.

I'll take all my BNs down and await the go-ahead to restart them.

Am I right in thinking that BN mining isn't active yet? If it is I'll only be able to restart some of my BNs if there's still just the 50k collateral option. Looking forward to larger collateral options...  with just 5 of my own boxes on different ISPs I'd have most PoW coins effectively beat for decentralisation singlehanded.  

@hack_ : IPs of the pool nodes?

Various fixes have been pushed to the repo, I'm just waiting for official word before updating all my BNs etc.

If you think everything will work, do it.  

I am looking forward to placing my first BCR-backing bid.

Haha, I've been thinking in terms of total daily emission this morning, plotting long term backing values, I'd forgotten about the actual superblocks. 

Guess we'll await instructions from the boss.

The old and current master branch builds work fine, it's the RC versions that have stopped syncing at block 199999, as the bidding system isn't finalised yet.

Block reward was never meant to change from 50 BCR AFAIK?