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You forgot to mention to Premine by large block regarding in the beginning
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Many of the ideas discussed here are similar to or in alignment with Freicoin's goals. Even if you eventually do make your own coin you might find that collaborating on some of your technical advancements with Freicoin developers fruitful. Currently we are focused on improving difficulty adjustment methods with plans to look at compressing the chain for faster downloading and distributed voting in the future. This is on top of demurrage and smoothly varying (no 'halfing' day) mining reward innovations already present at launch. While our economic views lay well outside BTC norms (were anti-deflation) were committed to open-source development and sharing good innovations with the community. Check out our forums http://www.freicoin.org/index.phpI think Freicoin lacks the hook, that BTC et.al has, the prospect of an investment vehicle is the most sure way to hook people into the system en-masse, then after it meets full or near full market penetration it will stabilize and be used as a currency. I know your not supposed to hoard BTC, but that is a necessary evil. FreiCoin Demurage the loss while holding while actually great attactks the problem from an idealistic point of view |
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Ever thought about implementing a tier system for those who have GPU farms?
I think it's crazy those who can't afford much and want to mine,are walked over by those with gpu farms that contain 20 or more GPUS.
It's even worse when the very few who have ASICs,pretty much bomb the difficulty of new currency up to the level of bit coin over night.
My thoughts are that the more GPU's you have, the more you're taxed. What is taxed is sent to a community faucet.
This taxing is tied to IP address.
I only have 47 Byte coin after days of mining,where folks in the same period have mined several hundred if not thousands..
The well off then crash the price when the coin goes onto an exchange.
not sure about this.... the arms race does drive innovation and secure the chain |
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Thoughts on this? Now I think this is quite a good model.. You can't 51% this coin no matter how much hashpower you have, and coin generation uses PoW. Idea: Initial coin release is done through the equivalent of set difficulty mining - generate processing intensive hashes, if the first X bits are all zeroes AND that coin isn't already made then you just created a coin.
Example:
de345cf32de1ab9: no coin
96f7410e7925cc5: no coin
000000ac9531cee: coin
0000001ab98f9dac: coin
[...]
000000ac9531cee: no coin (already made)
Can just use TX hash for that. If TX hash starts with X 0 bits, AND it has no inputs, AND it has only one 1 coin output, AND first x bits of the TX hash is unique, then it passes the successful create coin check.
Those "create coin" TXes would be broadcasted and would be confirmed after being included in the blockchain. The blockchain is purely generated by Proof of Stake. Proof of Stake mining just earns transaction fees (which are required to send transactions, so the create coin TXes would have to include a fee that the PoS finds acceptable)
Initially the network would be seeded via a genesis block that gives the seed PoS node 0.5% of the total monetary supply.
Advantages:
* No mining pools needed! Each PoS block is expected to hold multiple create coin TXes with PoW.
* Rate of new blocks not tied to hashpower vs difficulty.
* Can't be 51% attacked unless you own more than 51% of all coins in existence
* No "mass block time" at the start of the coin's life, difficulty goes from 1 to 4 to 16 to 64 because that's the max jump..
* Energy efficient after all the monetary supply would have being created
* Scales with more hashpowers which can be somewhat linked to new users
* Limit on max amount of coins.
Is this not much of PPC? |
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The problem with this guys plan is that by the time you could spend his 1 mill, it would barely buy you a house/flat in (Sydney, City you want to live X) yet alone meet any living costs
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This is what successful traders do.
However, if you try to coordinate different actors to work together at particular price points, eventually someone will go rogue and screw everyone else.
How would they screw over everyone else? Wouldn't they just buy into a ceiling or sell into a floor? Unless that person more than half the money, I don't see how that would work. en.wikipedia.org/wiki/Prisoner's_dilemma Exactly, actually if you know what everyone else is thinking, you can either anticipate the price movement or are doing insider trading. There's no such thing as insider trading |
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YES EXACTLY
FRB, CCR relaxation (print money) are just not understood, add to this inflation
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Just saw * Daily limit on withdrawal - 0 TRC. PPC 5000 PPC, yet BTC 1000?  LTC 10000 what gives??? can't withdraw TRC from BTCe? |
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Present your evidence!
So called "Scammers" there will be no Star Chamber in this thread.
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<tinfoilHatOn>tl;dr</tinfoilHatOn>
<tinfoilHatOFF></tinfoilHatOff>
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People might kill and/or rob you for your money if times are bad and you are not popular.
So it makes sense to be quiet about what you have at times.
This. I don't mind revealing how much fiat I have (paycheck to paycheck; no more than $2k at any point in time,) but when it comes to BTC, and how much I value that BTC, as far as anyone's concerned, I don't have any. At least not on this computer, or any other computer that may or may not exist. Also, it's easy to steal BTC; you can do it anonymously, over the Internet, without any repercussion. I wish I had bitcoins.....but I got in to late....so I just use them for currency....! |
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Good to meet you jubalix and graet.
Was the person next to you LGV from this thread ?
You Know, I don't know!!!! PM them!!! Great to meet you to!!! |
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Disappointed I couldn't make it. Will definitely be coming to the next one. If anyone can post a bit of a recap of what happened/was discussed, I'd be interested to hear.
See Top!!! Next one scheduled. Basically intro's and q/a, general topics, but a lot of ground covered! |
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Ok so the first person mining....how long were they doing this before the next person jumped on???
how long until first difficulty raise
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How much pre-mine was done on this chain before release? - EDIT: So it was a stealth Premine, make an announcement but be mining the crap out of it while everyone reacts |
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See you all tomorrow
a lot has happened in the last 24 hours!
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use twitter https://twitter.com/@VircurexWe might not get any new updates from our host until another 72 hours. We must all be patient and hope for the best. translation: ur screwed. they bought cheap assed hosting and were promptly dumped once the massive denial of service attacks started coming in. Keep posting that FAKE twitter account, yeah do it some more. lol that's fake? if so why aren't they asking ppl to send in their passwords for 'refund' instead of doing damage control or trolling around It was stated that it was fake. Don't ask me why or how, I don't know. What I do know is, that it's fake as told by many. Kumala is the Vircurex owner and has posted here on Bitcointalk that that twitter account is fake. Please don't send them anything. Thanks |
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