I can not support this.
I can not support this too. Please leave your real names so I can make sure that you can never participate. ;-) |
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Well its not "really" mining, ultimately. It is just a was to let people use CPUs to rack up whatevers that determine how many coins you distribute to them, while also making what the CPU has to do multi-branched enough and adaptive enough that a botnet-operator would have a whole lot of pain trying to run thousands of machines doing it.
Though actually first step of all to discourage botnet operators is to charge a fee up front for an account, with the account only being able to have 10 characters with only 5 online at once. SO a normal person, no problem, create five characters, run them all on scripts, have another five if you like for fun stuff scripts won't handle, so you can play for fun too when you want.
So basically make five artisans, as they get experience just doing chores like mining, chopping wood, digging for gems, drilling for oil or honey or whatever; run them 24/7 on scripts, then for fun maybe make a warrior or whatever to go exploring and hacking and so on to maybe make discoveries that could lead to finding som good things to add to your scripts. Log out one of the artisans whenever you want to play the warrior.
A botnet operator though, oh boy, world of hurt waiting. Even if you did manage to get thousands of accounts set up, even if you did get five artisans running on each, one warrior could maybe throw them off-script, or kill them over and over, or just loot or whatever. Though maybe you could try to get all the characters accepted into some safezone community or something where they'd be protected. But again that would take human interaction, each character chatting with others to arrange such things etc.
So its designed not only for CPU but also to want at least enugh human operator intervention from time to time to make botnetting it impractical. At least until the scripts people develop get really really sophisticated, far beyond the point they have developed so far.
-MarkM-
I was unable to read the article you posted (link appears down). So are you proposing that there would be multiple kinds of mining operations and a human user needs to setup which specific mining operation to perform? Something like a captcha? So when a miner logs into the system, it is confronted with a challenge that a human answers to configure itself to mine? Sounds promising against botnets. So basically there's this pool that all miners logs into to create new coins. Each miner requires an human to configure. The mining proof of work will work only for CPUs therefore cutting out any advantage of GPUs and ASIC miners. |
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wow, all these people have no idea. first off... solracx is not a scammer
2nd... he has better plans then freicoin for his dev funds ( bad comparison, freicoin plans completely suck.. and freicoin has a whole team of people sitting on ass, sorry freicoin, you need to step it up a notch)
3rd.. you might be starting see the light of zenithcoin, and wish you would have been mining
4th.. I could go on all day, but ill let time tell the real story, just wait, and see...
i know things .. that u dont... so dont plz dont start with me..... and there is absolutely no scam involved.
these blind accusations of his intention on this forum makes me nauseous..
plans are big, and you all fail to deliver what he is working on launching... so until you win the race and come out with something that will change crypto forever than plz troll on a thread that you know something about.
i have only 100 zenith coins, i have no monetary gains here to be made. im giving you the facts. If i was a liar would CygnusXI let me run the alpha pool??? think hard...
you guys slammed him... now you have been slammed back... unless you have FACTS to back up all these accusations than i suggest you not make more assumptions...
Some projects... unlike your precious copy cat coins... take time.
"Next time, try to open your mouth a little wider when you speak."
Willy Wonka
Interesting critique. Freicoin has good talent, not certain what the problem is, but we'll see what happens when the build freiassets. Also, a scam is when the perpetuator is hiding the facts. Solracx has been transparent from the beginning with the 50% subsidy. It has been several months since the coin has been released and everyone had the the opportunity to mine it in a fair way. Most other coins actually are insta-mined or pre-mined. This fact is in fact hidden from the public. Anyway, our team will be releasing a new coin L E G I T C O I N that has ZERO miner subsidy! It is a different model and we shall see how it plays out. |
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Use the new concept of " CPU mining" developed specifically for distributing coins, not for securing blockchains!  -MarkM- Interesting. Possibly another coin can be used to determine initial distribution. Of course this only works for the initial distribution. This does not work for a continuous distribution since ownership changes hands. The two block chains will therefore need to be always in synch which would be complicated technically. To make this work one would NOT allow transactions on the other chain. Simple just mining that creates coins and all transaction happening on the already secure chain. So it may not be another coin, but just some periodic scoring system that creates new coins. This is in fact interesting because you aren't using the mining to validate the network. Meaning you could actually have the mining do something really constructive and not some worthless hash calculation!!! |
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Soliciting ideas on how to re-distribute the 10 million coins.
Please provide suggestions!
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It is illogical to say that a 'mining percent distribution' removes value from a coin. Example: DVC (DevCoin), FRC(FreiCoin), ZTC(ZenithCoin)
Say you have 2 coins, coin A which you get 50 coins per block and coin B which you get 25 coins per block and the other 25 goes to the DEVS.
So when these 2 coins hit the exchanges, assuming all being equal coin A will have twice as many coins as coin B.
However, is coin A have the same value as coin B?
Coin B could be twice as valuable or ever greater than coin B because it has a built in maintenance fund.
So even if the miner of coin A has twice as many coins, it may not be worth as much the miner with coin B.
This is also like comparing IFC (infinite coin) where each block creates hundreds of thousands of coins.... should have millions of IFC be worth more than someone who has a few BTC?
Ultimately, does not matter how many coins you have or mine.... what matters is the value of each coin!
Complaining that a miner gets half of the coins per block is like a miner complaining that only 25 coins are created per block instead of 25,000.
Completely illogical.
Note: This is different from a mining fee by pool operators. The reason is, there may be another pool with a lower mining fee.
So whay do you think about a coin like L E G I T C O I N with zero subsidy? |
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Any other plans for this coin besides mining?
Lots more. Stay tuned!! Interesting, please keep us informed. |
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XLC is taken by L E G I T C O I N
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Seems legit  Exactly! Yep! All caps, and legit in its name, so must be legit . Indeed. |
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Seems legit Exactly! |
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at $2.4 a coin, it is very impressive.
what other real currency is valued this high?
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What are the alternative methods?
Proprietary information at this time. |
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WTF
Yes, that is correct: Approximately 80 Tera Hash per Second to protect the network. |
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L E G I T C O I N Network: Approximately 80 Tera Hash per Second or 80,000 Giga Hash per Second Mining Subsidy: Zero. Coins to be circulated: 10 million Contact: info@zenithcoin.com for inquiries what would be the purpose to mine it if the subsidy is 0  Maybe it's 100% pre-mined, a kind of Ripple  10 millions coins will be distributed in a manner similar to Ripple. |
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what would be the purpose to mine it if the subsidy is 0 Mining subsidy is unnecessary if the network hash rate can be acquired by alternative methods. |
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L E G I T C O I N (XLC)www.legitcoin.comLegitcoin is a platform that leverages the Namecoin network. The Namecoin network has 7 million coins and has a hash rate of 8 peta-hashes. One LegitCoin is designed to use 1/100th of a Namecoin. The purpose of LegitCoin is to emphasize the currency aspects of Namecoin as opposed to the domain name aspect that it traditionally has focused on. Namecoin is unique in its ability to support Smart Properties. Domain names are one example of a Smart Property, however there are others. Examples of Smart Property are stocks, bonds, coupons, gift cards, timeshares, activation codes, credentials, futures and options. LegitCoin is a platform that is based on the massively secure Namecoin crypto currency network. Contact: info@legitcoin.com for inquiries on early adopter information.
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This is all fundamental economics... "supply and demand".
NVC folks are masterful in controlling supply, for some reason demand is enough to push its price up.
Other coins that have too much supply, will go no where, because the reality is that right now, almost every coin price is merely speculation (without any real world usage).
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Here's the truth....
developers who make an considerable effort to create a coin find ways to ensure that they have a considerable owership of the coin.
this includes shenanigans like pre-mining, insta-mining, keeping the GPU to themselves etc.
this is just reality.
if the developer has no stake, (or has dumped is stake after the pump), then expect little or no support for the coin in the future.
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Hadn't noticed Sifcoin had been released a while ago.
I thought Quarkcoin had an entirely new proof of work.... unfortunately... it is just a copy of Sifcoin.
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