Slowly, people will start to get it.

@ pro, you know that the eventual system design will encourage every BN to participate in mining right? I tried running 8 off my 8 core box, no such luck. The computing requirements are getting higher, as such for a single core VPS i encourage running only one BN.

Full BN only mining will come in a few weeks, for now my focus has been debugging the existing material , fork resolution and fine tuning the bidding code. Over the next few days , the git will light up once again with more code and fixes as i start work towards 0.30.18

I've been telling people for 18 months that a single crappy old celeron could handle the entire Bitcoin blockchain with ease, and probably that of every other active altcoin simultaneously. They look at me (or type at me anyway) like I'm crazy for thinking that anything under a petawatt's worth of compute power could possibly cope.

Anyway, BCR's blockchain is currently humming along on a bit more than one crappy celeron, but not much - ("networkhashps" : 1,) - and I just squeezed over 300 txes into block 205593 and ... no issues, surprise. I shall be consolidating the rest of my BN payments shortly.  

Competitive PoW is utterly fucking daft.  


Also, it occurs to me that another aspect of BCR being, among other things, a (worlds first?) p2p hedge fund is that assuming the bid price follows to some extent the market price, any pumping will result in permanently locked in value.

BCR is one of a very few (Xaurum, backed by gold?) cryptocurrencies that can't be dumped to zero, assuming any of the underlying assets still have market value.

There is no pool becouse dev didn't give github source

Do you have your wallet and data in default catalog (...appdata/roaming/bitcredit) or in custom? My default one is crashing often after closing, but custom works without problems. So win 8.1 has problem with elevated rights in these exes. Of course compatibility mode set to win 7 and run as admin in both cases.
Maybe some stupid Antivirus like defender or avast is messing with it.

@dev

Is this update mandatory or optional (bid fix only), I'm out of home till tomorrow.

.............

The crashes in QT are as a result of some race condition, these aren't easy to identify , but i'll try. Wish i was better at multi-threading.

i have wd 305 PAK since august 26. but till now still sending..

prntscr.com/8hgpml

By my crude estimation, if the 6 million reserve BCR remain unburned and unbacked - worst case scenario IMO - and if BCR is on average bid for at only half the current market price, if the backing thus acquired only lends 20% of its actual value to the market price, it will take appx. 1 year for the Assured Minimum Value of BCR to match the market price it started at. After this, the AMV starts to exceed the starting market price rather rapidly. Holds true whatever the initial starting price is.

eg, taking the current Bittrex bid price:
http://s8.postimg.org/3lmvbjkj9/bcr67.png

This is all pure conjecture, I'm just working from some simple initial conditions and extrapolating, and I'm using BTC as a yardstick because most people here have a feel for what BTC is 'worth' - I think we should be ditching most of the cryptofiat backing for something solid ASAP. Now more than ever world markets are volatile, the relative prices of anything could go any which way at short notice so even when some actual data is available to model from, long term price predictions are always going to be about as accurate as long term weather forecasts. Possibly slightly more  accurate than 'Technical Analysis' chart voodoo though, which to me seems like driving your car forwards while staring only into the rear view mirror and believing that the past is telling you what's in the road ahead.

One thing is certain though, for backing to happen we're going to have to attract buyers.

I'm doubtful we'll convince many miners to just buy BCR instead of wasting electricity to acquire it. Miners are mostly just geeks hoping to get free shit. I suspect few miners are interested in actual investment rather than raw speculation or instadumping via BTC into fiat to buy more of whatever it is that they smoke that convinces them that what they're doing is a sensible use of their time and energy.

Back to the attracting buyers bit... as bitcreditscc said a little while ago we're going to need outreach. I've done sales work and I hated it too, but we can learn from what other cryptocurrencies have done and avoid their mistakes. Sadly I don't think there are many successes to emulate, unless one counts the likes of the Ethereum, fools and their money etc.

Top of my personal list of things to avoid is spending much - or any - money or effort within the crypto scene, it's filthy with dogma and broken thinking, and most of 'em are completely broke from all that pre-obsolete mining hardware, the electricity bills, and playing suicidal daytrader against whales and bots on the obviously crooked (all of them) exchanges.

It's difficult to know where to direct efforts though without an idea of what the community sees as the longer term purpose of BCR. Before the bidding/backing thing got underway I think there was plenty of scope in the original vision of a p2p banking and financial services platform. When the backing system is fully running I hope bitcreditscc continues to develop that aspect of things, it's a big market.

There are just so many ways that BCR could flourish, I'd be interested to hear what others see ahead, or would like to see in BCR - not short term technical stuff like wallets crashing on platform X, that stuff will get ironed out, but the bigger picture.

Just ruminating here, and thought I'd post some more asset backing porn as the BCR price seems to have risen somewhat since I last did so.  

If this post has left any cryptognats unoffended, please tell me so I can include you in my sweeping and unflattering characterisations next time, I wouldn't want anyone to feel left out. 

If there's a choice of BN collateral amounts (and proportional BN rewards) in a future update, I'll be going for some 250k+ BNs, I can realistically run 5 or so across the ISP connections I have available at home.

I notice than BN payments are incoming now @ 10.35 BCR - this isn't far off half the previous 18.75 BCR payout... with BNs needing to run a CPU core all the time I think some upward revision might be justified.

I've got some ideas for improving the bidding process and monitoring it from withing the UI, but I'll wait to see the whole process in action and working properly before I do any more.

hey guys, I mined the block #1 ^^

coin is dead?  

While bitcreditscc is hard at work with the difficult stuff, a quick visual reminder of how the bidding system might influence BCR's price in the short term:

http://s7.postimg.org/m3dptwsnf/bcr66.gif

If there was a vote on it, I'd vote to burn the 6 million reserve BCR as it makes quite a difference to how well backed the rest of the currency supply is once bidding is properly up and running.

How are exchanges and traders affected by this? Let's hope the traded coins will not go to waste