Hey where is the vid for the meetup at CIS?
Should get it sometime this week. Cool !! |
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Hi,
ok if a coin is created in a localized fashion, it needs to be distributed to the population some how.
There are many ways to distribute it, one through only miners, the other by having miners mine and donate a amount to a pool and use that to distribute it to the population.
Or do we have as many people enter mining so that the distribution take cares of it self. if this is done how do be encourage people to enter mining.
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Hi would like to start the formation of teams to contribute in This project. Need : Core Dev Team Support Team Auxiliary services Team Promotions and Art Remember this has to be all coordinated in a decentralized manner, would like others to also take charge. and please do get your self a gpg key and post a email address will get a mailing list up and running for the project. Lets try to complete this within 3 months. I think its time we look for a good name for this coin. So , Name That Coin!!!! . |
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Ok here is my Specs. Algorithm: Scrypt (I do like the other variation of Scrypt but my only concern is hash collision with those Algo, Scrypt is battle tested) Soft Cap: 1 Billion Block time: 2 minutes Block Rewards: 2000 coins per block Halves every - 26300 blocks (~1 year) {Halves for the next 5 years} Soft Cap reach in about 5 years after which Block reward - 100 coins per block Difficulty Re-Target Time: 2.5 days or every 2016 blocks Premine: Nill Ok so the idea if fairly simple have a coin that can exist for a long time and can cater to a large population without creating a hyper-deflationary Environment. i.e prices of coins shoot up to become expensive and people resort to using fractional denotation. This system would also replenish the coin pool of lost and destroyed coins over the years. There is a Soft cap of 1 billion which is reached in about 5 years and after that the block reward for each block will be at 100 coins. The aim it to have this coin close to the national currency as possible so that the integration phase would be simpler and faster. The effect will still be deflationary in nature as after 5 years only one set amount of coins will be generated every year and this will be fare more beneficial. As more miners enter and more pools start up the distribution of the coins will also start to spread and diminish. this will create a shortage supply and a deflationary environment. but the deflationary curve would be much slower. In short No cap on coin. Total soft cap at 1 Billion, and there after generate about 26,300,000 coins per year. I am also taking into account the population growth from about a 1.3 billion to about 2 billion in about the next 40 years. This Coin would also mimic the same rate of growth reaching about 2 billion in the next 40 years. What do you think of it ?? |
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Looks interesting, will add it to the Next BIG list.  Its a good start the way they are approaching it . with the use of national ID's thing . i thing we can use some thing like that too. let see what we can come up with . The main problem is the verification of the UID belongs to the correct person. may be use some type of a hash fingerprint or a signature scheme to do that . |
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Hey where is the vid for the meetup at CIS?
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Hello everyone, here I am going to talk about a project that I have developed in last few months. This is not an announcement and rather a friendly discussion from where I would like to get your suggestions for betterment. I am sure most of you use Twitter and some of you have heard of a website called SponsoredTweets.com, the leading website in twitter advertising. There you may post your tweet and add a price for each retweet. Those who retweet your tweets, earn that amount. This whole system works on FIAT. So, I just tried to re-engineer a similar system on Bitcoin. The output is re.2et.in, a Domain Hack of the word retweeting. In this system you may do the following operations... 1. Browse Tweet - Browsing other's tweets which are awaiting to be retweeted. This will earn you credit. 2. Add Tweet - Add your tweet which others will retweet. This will spend your credits. You may filter out people according to their follower base. 3. My Tweet - List of your tweets with associated credit points and stats of how many times they have been retweeted and by whom. 4. Buy Credit - Rather than retweeting others, you may buy credits directly using Bitcoin. 5. Sell Credit - Once your credit balance reaches a certain threshold, you may sell your credits to convert them into Bitcoin. Once did the skeleton made up, I did a little promotion on twitter and hence some people have already joined. I wish, I'll get the Bitcoin community by my side. Any feedback is highly appreciated. Please join and use - http://re.2et.inWill give it a try in a few days. |
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This meetup was great. We had a number of students interested in bitcoin. Expecting more participation in coming days...
Awesome. How many attended? Any general discussion/ action points that emerged from the meetup? Except for me there were 4 other guys. Out of them 3 were student. I heard more people were supposed to come. But they could not as there was a big political rally today at Brigade and city traffic was very disturbed because of that. My bad ...if I knew about this rally earlier, I could have changed the date. It's still a good start. |
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This meetup was very good and have many people interested in bitcoin. the discussions was awesome.
Hoping to see a larger output in the next meetup .
How many people turned up in this meet ? Any new Bitcoin based business coming up ? About 15 and yeh a few more cities. |
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Still selling 0.21 BTC for 10800 Rs. NEFT only. Message me.
If you dont want to hand over you ID then use bitquick.in. |
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for the difficulty retarget time we can have like 24hrs or 48hrs. so we won't have frequent switching by the miners. And also we won't want it too long If we are going for GPU then scrypt jane perhaps since it will be resistant to first generation asics .. or else if we look at cpu then there are a few algos but cpu would give rise to botnets which would be a cause of concern as the network grows.
even the momentum agorithm(with SHA512) has a opencl miner now. https://bitsharestalk.org/index.php?topic=2598.0. this system is unfamiliar with most of the miner here. so it might take some time for others to get used to it and understand how to mine... but this might have a good take in the future. but scrypt jane is a bit familiar with the community. it can reach out fast. I spent more time analyzing your submission then working on my spec, i have to tell you it is a good recommendation and i have made adjustment to my spec after looking at some of yours, will submit it in a few hours. |
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guys in delhi, the ASROCK H81M-HDS (1150) is available for 3890 & the H81M-VG4 (1150) for 3490. It would be foolish to pay $120 or even 80-90 for it. Trusted Source: costtocost.in/list/pricelist.pdf. I have been a their customer for some time. and im sure they'll ship to wherever you are.
I guess you dont read hardware spec before commenting. |
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Benson would you want to be on the Coding part , i think even Mahin would want to do that too.
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of-course i"m in but i'm not in the coding side. any other part i can help.
I was in the discussions of day1 but after that i don't know what all advances you had . any news? when is the next discussion about this?
I have come up with new ideas for the numbers
All the discussion was done on Friday, weekends was a bit to bussy for me but we had all decided to get our own spec, and post it so that we chose which one would be better to go with. Freenode IRC is facing a DDOS attack so its kind a unstable should be ok tonight. i hope. I will submit my specs tomorrow. https://bitcointalk.org/index.php?topic=444656.0 |
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please just join the team of an existing coin there is already to many coins
Well this is location specific, so looking for additional help. you are making a coin on the internet its totally irrelevant as people will nearly always mine the coin them makes them the most money maybe he/she wants to make a coin that is not a miners coin  the reason why bitcoin/litecoin/any miner coin has no penetration in poor countries is cos they don't have "the rigs" that the western kids have.....nor they can afford to shell out money they don't have buying expensive crypto. a PoS coin with mass free distribution would spread better there. This is the main reason. Poorer countries in the Asian subcontinent and Africa has the ability to mine only with CPU's, but the problem is botnets and large scale miners from developed nations always have an upper hand in taking coin volumes away. We are trying to see if a way can be impediment to prevent this from happening. the problem is that people will mine the coin from outside that area with a huge amount of hash power an then dump the coins if you really want to do that kind of thing you would have to do a 100% Proof of Stake coin then distribute the coins manually That is the one method we have been talking about, but the manual distribution is the one that i feel can be unfair to some people, how can this distribution problem be solved. otherwise a PoS is a great idea. |
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zack, wtf is your problem?  Unicorn needs money. What is there not to understand? edit: is that a unicorn or a pony? Its a pony . and i love it . no one say any thing bad about the pony. money is not the factor, it's to have people from countries where crypto-coin is hard to get, make it easier for them to enter it. |
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please just join the team of an existing coin there is already to many coins
Well this is location specific, so looking for additional help. you are making a coin on the internet its totally irrelevant as people will nearly always mine the coin them makes them the most money maybe he/she wants to make a coin that is not a miners coin the reason why bitcoin/litecoin/any miner coin has no penetration in poor countries is cos they don't have "the rigs" that the western kids have.....nor they can afford to shell out money they don't have buying expensive crypto. a PoS coin with mass free distribution would spread better there. This is the main reason. Poorer countries in the Asian subcontinent and Africa has the ability to mine only with CPU's, but the problem is botnets and large scale miners from developed nations always have an upper hand in taking coin volumes away. We are trying to see if a way can be impediment to prevent this from happening. |
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please just join the team of an existing coin there is already to many coins
Well this is location specific, so looking for additional help. you are making a coin on the internet its totally irrelevant as people will nearly always mine the coin them makes them the most money That's the reason why we are trying to find a localized solution for this, some thing a local community can engage in. to get into the cryptocurrency environment. |
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please just join the team of an existing coin there is already to many coins
Well this is location specific, so looking for additional help. |
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