I'm on block 18127

This might be a little off topic but I felt like sharing. I'm noticing a huge influx of coins based on Amway multi level marketing structures. They don't use algorithms or so it seems they don't and they require people to sign up others in order to acquire coins. They give you a % of each person you sign up under you. An example of one of these coins is this. http://latium.cc/

Its kinda disgusting to see this happening. I hope people see the forest through the trees.

So I was in the shower and came up with an idea that could help both the wallet woes and give the devs time to rethink the POS issues. Its kinda funny how running water can have such heavy influences on our awareness. I was think instead of implimenting POS into the current payouts we could instead make the POS for early adopters more like a certificate of deposit(CD). In other words allow users to choose how much they want to put into a savings account in the wallet that is not spendable unitl it has matured to a specific date. Allow users to specify between different amounts of time like 2yr 3 yr and 4yr. This way the devs could have time to figure out how to payout the 20% interest on these accounts over tim for at least 2 years, The users get to keep mining groestl pow and making aidbit..and the best point of all...This would be even more assurance that those with CDs would hold aidbit and not dump it for at least 2 yrs. IMO this would be highly lucrative for early adopters and also an added bonus for late adopters to keep adoption going. It would also encourage more buy orders than sell orders increasing aidbits liquidity.

When I try to download the new wallet it gives page not found error. ??

fyi Moolah.io exchange (the one I recommended) bought out mintpal just this week. They will be upgrading the security among other things.

http://www.coindesk.com/moolah-acquires-troubled-altcoin-exchange-mintpal/

Some good news: I sent a request to coin gecko about aidbit and got a response.


Bobby CE Ong <bobby@coingecko.com>
2:10 AM (14 hours ago)

to me
Hi Jay,

Thank you for writing to us. We will put Aidbit to our coin queue.

Cheers,
Bobby

I'm gonna guess that aidbit right now is worth about 0.00000036btc based on mining costs n such.

I downloaded the newer version of the wallet again and it seems to be syncing well but when i tried to mine on Maya I got this line that Id never seen before.

[2014-07-27 20:25:44] stratum_recv_line failed
[2014-07-27 20:25:44] Stratum connection interrupted

Not sure how common it is but when i saw it I stopped the wallet miner. Awaiting further instructions.

Question. How much did it cost to mine 100k aidbit with a rented groestl machine?

I'm on block 13805 as of today.

nvm. I had to dl vs 1.0.1.2 again for it to update the wallet sync. Im on block 14362 at this moment.

Should I post a link to the newest vs of the wallet or wait?

cool. its syncing. People shouldn't be blaming the devs for lost hashing power that your renting. This is a new coin and there will be challenges to overcome. Never invest more than your willing to loose.

Will do. I have some design stuff I wanted to do anyways in the meantime.

What should I write as the official response from you guys? I was going to post a link to the updated wallet and a short explanation of why its important to get it on the subreddit. On a positive note I redesigned the subbreddit and incorporated the logo so it looks more professional. http://www.reddit.com/r/AidBit/comments/2bs0eo/get_new_wallet_v1010/

Looks like some stuff went down. That's exciting. I noticed last night something was up when the stratum kept failing on felix so I stopped my miner. I was too tired to even think about it so I just waited till this morning. Got wallet vs 1.0.1.0 and I'm back in business. Thanks for the quick response guys.

Here is the whitepaper on cryptonote and ring signatures.

https://cryptonote.org/whitepaper.pdf

Would ring signatures work with the groestl algorithm?

Personally I think it would be easier to get it added to https://moolah.io/login being that its a newer exchange and hasn't been flooded with as many alts as these other exchanges yet. Moolah.io was the exchange that helped dogecoin sponsor their nascar.

After some research I'm finding that holographic hard drives are just around the corner so block chain size might not matter so much at least in the short term. So there's time. Basically the idea I was thinking about was making the block chain holographic but if hard drives are holographic then it would be way easier ; )