I can donate 250 NMC to this. Will send the coins when I do get home.
Best of luck!
Thanks, will let you know of receipt. |
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Folks, I am performing a port of MultiBit for Namecoin. This will allow folks to have a nice GUI for not only windows, but for Mac OS X and Linux. Furthermore, you don't have to download the entire block chain! Anyway, I started up a fund raising effort: https://bitcointalk.org/index.php?topic=387363.0Cheers! |
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All, It comes to my attention that Namecoin is in need of a lightweight wallet to strore one's coins. I am proposing to port the MultiBit Bitcoin client ( see: https://multibit.org/ ) to be used for Namecoin (NMC). The Bitcoin foundation has now recommended that desktop clients use MultiBit SPV mechanism rather that Bitcoin-QT. This mechanism does not require that users spend days downloading the entire Bitcoin blockchain. This kind of convenience and usability would be a big boost to the adoption of NMC as a currency. The current namecoin client is still on version 3.72 which dates back several years. This proposal is to make available a new client that will run on Windows, Mac OS X and Linux. Furthermore, this proposal will make possible the development of Namecoin clients for Android phones. The effort required to do this port will require the porting of two existing Bitcoin open source projects into Namecoin. Specifically: (1) Bitcoinj (2) MultiBit This takes a considerable amount of work and I am therefore seeking donations for this effort: Namecoin address: MwDtDr6FxHAav4FqxcqqfKDdZM3J3oYsi4 If you are heavily invested in NMC, please consider investing to this project to further NMC development. Regards, FrictionlessCoin P.S. A similar port for iXcoin is underway, however that is funded by a separate fund raising activity. See: https://bitcointalk.org/index.php?topic=349790.0 |
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" nodes publish both their decisions and the data needed to reconstruct the decisions"
Could you provide more detail on this?
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For the start we are most interested in one which simply follows the rule of conservation, as it has many uses. But there are other interesting applications, which will require custom color kernels. (One example is prediction/derivatives market.)
Could you expound a bit on how you would do derivatives? I had some intuition that you could, but I have not worked out the details how you would be able to do this. It's always the case... But, in practice, special 'color addresses' prevent potential incompatibility problems: each color has an identifier, hash of that identifier is embedded into the address in such a way that client can check if identifier matches. This means that if your client doesn't support color "green", you won't be able to produce an address for color "green", and thus nobody will send you "green" coins.
Are you saying that there you are embedding in the address creation mechanism a way to uniquely create a colored address? I did not see this in the specification. |
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Due to the hectic holiday season (and other more pressing matters) this release has been delayed.
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Extremely interesting. I will spend some effort reading your specifications.
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Thanks for testing it out. But I didn't expect you to send that much coins into it!!! |
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Just realized that the priority list has changed slightly. Colored coins in now the #1 development priority. It is a feature that the market can relate to. |
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It is not the only updated merged mined coin client though, is it?
Isn't it based on the updated I0Coin?
So that it has the memory-usage updates that were first deployed in I0Coin?
-MarkM-
Yes, it is based on the updated I0Coin code base. You can check out the source code itself on Github. |
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Miners have been slow to take up merged mining, so the ideal situation, in which the entire family of merged mined coins (Bitcoin as parent chain, seven child chains all merged alongside it) simply has not been arrived at yet.
IXCoin is way up there in hashing power simply because more merged-mining pools and miners who merged-mine include it in their merge.
Hopefully we will see the rest of the merged mined family also get more hashpower as more miners realise they are leaving money on the table by only merging a few of them.
-MarkM-
Merge mining is a good thing. Satoshi in fact proposed it. The coins that are merged mine are more secure than the coins that are not. Still, any merge mined coin needs to justify its existence. |
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watching this.
Nice work on setting up ixcoin.co. I never realized that IXcoin was one of the early sha256 alt currencies. Its easy to always think of NMC. All the other points made on this thread thus far make me want to head over to cryptsy & put my free floating mBTC's to good use.
Just so you know, iXcoin has been upgraded to the latest version of Bitcion 0.8.6 . |
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Certainly looks very clean compared to Bitcoin sources. Also, at least you made an effort with the address. NXT just uses numbers. Who knows if they have checksums in those numbers! Anyway, best of luck here. Still waiting for you to describe how you are going to do the 'distributed consensus'. |
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reserved. very nice indeed.
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Ixcoin hash rate now up to 4.3 PETA Hashes/Sec.
Yes, that is 1 peta hash in the last 10 days. iXcoin is ridiculously secure! Now some folks need to take advantage of that security. That's why the colored coin implementation is key! What I would like to see is that alternate financial instruments like stocks, bonds, coupons etc. be traded using iXcoin as its infrastructure rather polluting the BTC block chain. Mastercoin for example has a 'fictitious' market cap of $82 million, that is 40 times that of iXcoin. However, right now they are functionally equivalent (only basic send coin). However, if iXcoin is recognized as the primary vehicle for smart contracts, then a 40x increase in the price of iXcoin is not unlikely. |
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This coin without a doubt needs market makers. The best I can do is work on the technical aspects and marketing of the coin. But folks, you need to make a market!! If you don't, then IXC will just be a proxy to BTC (which historically it has, and honestly isn't that bad a deal! ). |
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Ok... so you can only trade NXT for BTC on the DGEX exchange.
You can presumably deposit BTC.
However, can you withdraw BTC?
I'm asking because, anyone can buy NXT using BTC that does not exist in the DGEX exchange. Just to make an appearance of demand.
How do we know that the BTC that is used at DGEX even exists?
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Here's what I wonder about mastercoin, why is it with their exchange is says "Test MSC". Are they trading 'test coins'. See: http://mastercoin-explorer.com/order_booksSo how is it that exchanges playing with 'play money' are listed in comparison with exchanges with 'real money'? There should be no coins listed in this list unless they are traded in any of the major exchanges (i.e. btc-e, cryptsy, vircurex, etc). |
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Also, why would some there be a need for just one big player? Isn't there room for more of these protocols? Some companies, financial institutions might prefer colored coins, some might use NXT, others Mastercoins?
Yes, it's going to be a competitive environment in this space. |
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what happens to open transaction
Likely to be incorporated into the iXcoin ecosystem to handle advanced financial instruments. What happens in this case? Will the price of iXcoin rise? Rise significantly? Unlike a mastercoin implementation, a colored coin implementation consumes coins proportional to the number of coins issued. In other words, say I need to create 20 million shares of a company stock, to do that we colored coins using iXcoin as the block chain, I would need to allocate 20 million x 1,000 satoshis = 20 IXC. So, as more financial contracts employ iXcoin, the demand for IXC goes up and the supply gets reduced. A mastercoin implementation by contrast allocates the same amount of bitcoin regardless of how many contracts are issued. In other words, the underlying coin does not benefit from the introduction of mastercoin. In fact, there is no correlation of the reduction of supply as mastercoin is used to create financial instruments. In other words, I can use 10 mastercoins or 1000 mastercoin to represent 20 million shares. Does not make a difference! Will there be enough Ixcoins in the future in case colored coins via this blockchain get super popular? I've read everything you've said and i'm thinking of buying couple of hundred coins as a hedge and because i see some logic to your arguments. There is a cap of 21 million iXcoins. Your question is like asking, is 21 million bitcoins enough? Supply and demand affects price. If you have this layered protocol like mastercoin or colored coin, one would expect that there was a 'toll' for using this layered protocol. With mastercoin there is no toll collected either by bitcoin or benefiting mastercoin. So I fail to see any supply/demand dynamics for mastercoin. To be clear, why would I need more than 1,000 mastercoins when the functionality available for 1 mastercoin can do the same? There is no 'conservation of money' in the entire scheme! There is absolutely zero scarcity! Economics works on the presence of scarcity, without it, all pricing goes to zero. With the iXcoin approach we preserve the value of a coin. Printing 1 million of a company shares costs more than printing 10,000 shares. Building a system that is completely devoid of cost doesn't make sense. iXcoin is still merged mine, so there is a cost for every coin minted. There is no cost for some guy to come up with his own 'exodus address' in mastercoin. The www.ixcoin.co will be updated to reflect the new strategy of iXcoin. |
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