That would be awesome.  We definitely need to get non-English speakers on board:)

CEST is 6 hours ahead of you (EST) because it's one hour ahead of me (UK time).



I think this is probably a better idea until we have more members of the team to help Brokkir out (then we can look at implementing deadlines).  Also even then the deadlines should be estimates not set in stone.

Also forgot to mention I'm pretty much free most evenings at the moment (UK time).  So am happy to go with whatever time everyone else agrees on.  The other thing is guys I have a tendency to be a bit dominating in messages etc so if you feel I'm being too forceful or dominating just tell me - sometimes I don't realise:)

Sorry didn't mean to come across as angry:)

This is awesome.  I like the original logo but I can understand it might be too aggressive and masculine for many people.  Maybe you could have different themes (one with the old logo)?

I don't think Mintpal care about fairness.  They like bribes more.  The only way they will put minerals on is if someone pays them either in secret or via the voting system.

It's not 7 million.  Did you read anything I said?   There are currently 11 million coins and there will be a lot more through POS.

Really?  Why the f*** not.  All altcoins are copies so your argument is stupid.  Why did minerals have POW that's a copy of bitcoin.  Why POS?  That's a copy of PPC and Blackcoin.

Also in relation to something like the above it might be useful to get the opinion of someone like Bryce Weiner.

The smaller the user base is the easier it is to implement.  The handful of people who are mining it now can't sustain this coin.  Full POS is the simplest solution and now would be the right time to do it before the coin gets any bigger.


I would call this a Price Based Rewards System (PBR).

You would collate data from more than one exchange like CoinMarketCap does. So there would be no central authority.  You would propagate the value through the blockchain in the same way that solved blocks are agreed on and transmitted.  Whoever calculates the value of x (with x being the mean exchange value) first has the value to use for calculation of the next block and so on.  

Note: I'm thinking here from a mathematical standpoint.  As I've said before my training is basic sciences and not programming, so whilst I understand mathematical and cryptographic principles I don't know how to translate that into computer language or code or indeed how much work it entails.  From a human standpoint it is pretty simple but I suspect it is more complicated getting a computer to do it all.

Also you don't need a block reward of 0, 1 might be low enough.  I think this is something that would need refinement over time (I don't think testing in private would give enough data) but starting with something like a range of 1-50 would be acceptable.  

The more difficult (though not too difficult) issue would be creating a formula to calculate the adjustment.   Now this would probably be more easy to program, the hard part is coming up with an algorithm that is fair and effective.  This would probably be another situation where actual use in the real world would provide data for further refinement.

The basic methods I was thinking of was to either use an absolute value based system (which would be much easier to implement) vs. a rate of change or gradient based system which would be slightly more complicated requiring a calculation from a certain number of previous values of x.  

The absolute system would require more assumptions with for example predicted values for the price of MNR at certain stages and how close the current value of x was to it.  This value would also need to be periodically reviewed to account for market conditions etc.  The other point to consider would be that the system would be designed to restrict downward pressure on price and not upward pressure, although some mild restriction of upward pressure might reduce the effect of deliberate pumps and this could be added at a later stage.

Like I said solution 2 (PBR) is a lot more ambitious, complicated, difficult to implement, and most importantly unproven when compared to the POS only w. Multipool method.

Note that PBR could also be implemented to calculate interest for POS too.

You are not wrong technically but running a Multipool and POW simultaneously is counterproductive.  That's why it hasn't been done.  There are lot's of reasons for this and I'm sure I can't cover all of them but it will cause confusion as to how people should mine whether direct or via the MP.  It will also lead to wild swings in difficulty and hashrate as people switch between the two methods depending on which provides more coins.  Whilst overall it may eventually stabilise the amount of confusion caused will likely harm MNR.  There is also the fact that continuing POW will psychologically give the impression of coins flooding the market.


I still do not understand this major attachment to POW/direct mining of MNR.  I understand you like the HEFTY algorithm but it's not worth throwing everything else away over.  Most multipools run other algorithms such as X11 which also have low power use.  Those that want to mine can still mine via a multipool.  Those that want to buy can still buy.  The coin total doesn't need to change.  All you are doing is changing the way new coins are added and creating buy support with a multipool.

However, if everyone is wedded to the idea of proof of work, another idea might be to alter the block rewards system to dynamically adjust according to the value of MNR.  For example using the rate of change downwards to choke coin supply and prevent the market being flooded with cheap coins.  This would be a very bold move and would instantly attract the interest of investors which is also important in the short to medium term for a currency.

It's crashing for me too:

Process:         BurnerCoin-Qt [98789]
Path:            /Applications/BurnerCoin-Qt.app/Contents/MacOS/BurnerCoin-Qt
Identifier:      com.yourcompany.BurnerCoin-Qt
Version:         ??
Code Type:       X86-64 (Native)
Parent Process:  launchd [313]
Responsible:     BurnerCoin-Qt [98789]
User ID:         501

Date/Time:       2014-06-29 20:54:42.711 +0100
OS Version:      Mac OS X 10.9.3 (13D65)
Report Version:  11
Anonymous UUID:  01166D6A-7FF4-AEC5-01B6-2415958411C7


Crashed Thread:  0  Dispatch queue: com.apple.main-thread

Exception Type:  EXC_BREAKPOINT (SIGTRAP)
Exception Codes: 0x0000000000000002, 0x0000000000000000

Dyld Error Message:
  Symbol not found: __ZN2Db6verifyEPKcS1_PSoj
  Referenced from: /Applications/BurnerCoin-Qt.app/Contents/MacOS/BurnerCoin-Qt
  Expected in: /opt/local/lib/*/libdb_cxx-4.8.dylib

It's pointless having a multipool whilst POW is still ongoing.  It can only work if there is a full transition to POS.  The great thing about it is that it stabilises price and buys time for further development.


Absolutely I agree.


We need definite dates as targets.  Which is exactly why we need more people on the team, rather than just having a one man show.  That is too much for one person to carry.


It's not easy to define and there is a fine line between a good strong leader and a dictator but some people are better than others.


Fair enough but trying to get more than a couple of people on IRC is tricky and it's even more difficult having a conversation between more than two people as it can get confusing.

That's wonderful.  I'm happy you have so much faith in him.  Must bring you great comfort in times of difficulty:)


Yet the price continues to go down.  What does that tell you?

I think you're missing the point here.  Saying that being on Bittrex is putting the coin in danger is like worrying about a paper cut on your finger when you have a severed limb squirting blood all over the place. 

The reason for low prices and buy volume is because there is not enough awareness of the coin, not enough to give it greater value than the pack and general lack of development or progress.

The big focus on mining, the Hefty algorithm etc, is a big mistake. 

The very people you want to get interested to increase utility and usefulness of the coin don't give a damn about those things. Neither do they care if the coin is mineable through POW or not. 

You will never eliminate pumps/dumps but as long as there is strong continuing development that is clear and well communicated the coin will bounce back and rise to new heights - just look at Vericoin and Nautilus.  Also this is why I was so keen on POS only with a Multipool paying in MNR - this would immediately create demand for the coin and stabilise price, with constant buy pressure.


Unfortunately in the real world definite plans and milestones are expected.  That's why they need to be realistic and also why their accomplishment needs to be taken seriously.  Without dates and milestones people tend to lose confidence and start to believe that they are not being seriously worked on.  It is because not fulfilling plans can be detrimental that makes them so effective and creates pressure to fulfil them.  If there are delays for legitimate reasons and this is properly communicated it is not a major set back.  The problem has been that in many cases developers have failed to communicate adequately about delays and/or have given weak reasons for them.


That's lovely but we do not live in a utopian society where this is respected or indeed useful.  We need strong leadership and direction.  If you cannot provide it then you should find somebody who can otherwise we will end up with a coin that is based on good intentions but never gains any traction and dies a slow pointless death.

I'm still voting too.  Now on no. 18 in the list.  Remember to keep sending humorous, original, and interesting tweets to @BittrexExchange as it is the most effective method to get listed there.

I already contacted them about Bittrex and it has been added:)

I'm thinking it might be an idea with the Scottish Independence vote coming, - GBC could be a symbol of unity and the unionist side of the debate.  Could get GBC more of a profile and media attention.  I really think we should do this.  GBC - a 21st century currency for a 21st century Britain.

Cayars, Hamer xx - great ideas guys and thanks for your input.

 I love the idea of using someone like a UFC/MMA fighter like NAUT did.  Cayars maybe your brother's friend might be interested in sponsorship - could you ask him?  I think Brokkir still has some bounty MNR left and we could raise more if required.  I also think the donations to charity from gambling would also be a good idea.  Given the ethical issues involved it might be best to go for a gambling addiction charity (if they accept it).

Hamer, thanks for spotting those main points amongst the rest of the stuff - I tend to be quite verbose, but yes we need proper direction and leadership.  Now is the time to step up and take action rather than sitting back.  Just see what Patrick has done with Vericoin and you can see how important this is.

I will continue to try to think of other ideas to raise the profile and please also do the same.  If we all work on it we can make this work:)

Yes - lifelong ridicule for trying to sell shit.

Another X11 clone, insults conjoined twins and Thailand, created by someone who has never even been to the Isle of Man.  Has an airdrop (definite scam sign considering this is made by someone who isn't even in the Isle of Man or knows where it is or can speak English for that matter) - assuming it is genuine - airdrops have been a massive success so far (oh, wait no).  I'm sure it will be a big success:)  [only if there are enough morons and sadly I suspect there are]