Litecoin was years ago, and probably already too low even way back then.
Recently blocks have been one second or less apart at such low difficulty, so it needs to be higher by at least the number of seconds there are in the actual target time between blocks just to stretch that second out so we can see how much actually less than a second it is between blocks. Most likely it needs to be even more increased than just by the number of seconds in the target time.
Basically it is just another pre-mine all over again, nothing learned at all from the previous pre-mined-in-public-sight coins.
The lesson evidently being, pre-mining is the way to go, anyone who doesn't pre-mine is just leaving money on the table they and their buddies should have had the sense to grab.
-MarkM- Yes this is right. Unfortunately premined by someone else, not by its creator. Oh well, I created it for fun, anyway have fun. For those with fast machine, good for you guys. The whole big award in early blocks to fund bounties is pointless then, instead it should be no award at all for the first hundred blocks, which if the initial difficulty is set correctly should take no less than 100 minutes to mine even if all the miners who are able to notice the launch within 100 minutes go back in time to the moment of launch and start mining then. If you need some set aside for bounties, issue it to a hard-coded address in the first block or something like that. -MarkM- |
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And the block hashes or headers or some such are used to seed it each block so that people cannot pre-compute the entire future-history of which blocks will have the super-high rewards? well you are right, I should have used the block hash, but I was too lazy... Okay so that needs fixing too. No point having a future-history list of all the "random" awards all the way into the future floating around, which is what will happen as-is. -MarkM- |
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Less than fifty minutes to run through five days, and that is with the majority of miners hashing wasted on orphans.
So initial difficulty probably needs to be multiplied by more than 24 * 5 * (orphanfactor).
Orphanfactor seems anecdotally to be way up near 100 or so...
-MarkM-
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Probably even 64 times the difficulty would still not be enough, possibly maybe 1024 might at least not be so totally insane even if even that is not high enough to stay at-or-above the target time between blocks for the initial five days.
-MarkM-
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How insanely low was the initial difficulty set at?
How freaking high does it need to be these days, as no coin lately has managed to set it anywhere near high enough despite each having the previous failed value to multiply a bunch higher yet again to get closer to a reasonable value yet none have been anywhere near sane. How much are they each multiplying the previous fail by in their attempt to get it right?
-MarkM- same as litecoin Litecoin was years ago, and probably already too low even way back then. Recently blocks have been one second or less apart at such low difficulty, so it needs to be higher by at least the number of seconds there are in the actual target time between blocks just to stretch that second out so we can see how much actually less than a second it is between blocks. Most likely it needs to be even more increased than just by the number of seconds in the target time. Basically it is just another pre-mine all over again, nothing learned at all from the previous pre-mined-in-public-sight coins. The lesson evidently being, pre-mining is the way to go, anyone who doesn't pre-mine is just leaving money on the table they and their buddies should have had the sense to grab. -MarkM- |
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How insanely low was the initial difficulty set at?
How freaking high does it need to be these days, as no coin lately has managed to set it anywhere near high enough despite each having the previous failed value to multiply a bunch higher yet again to get closer to a reasonable value yet none have been anywhere near sane. How much are they each multiplying the previous fail by in their attempt to get it right?
-MarkM-
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Are the "random" numbers used to make the rewards "random" deterministic, so that all nodes will all agree on the correct "random" reward for each block?
Because if they do not agree what reward the block should have, they will reject it, the net will split and split and split constantly as each node comes up with a different concept of what the correct block reward for a particular block should be...
At a quick glance I don't see the necessary determinism... where is it? If it is there at all?
-MarkM- Yes it is. Using boost Mersenne Twist which is deterministic. So theoretically it is not completely random, it is pseudo random And the block hashes or headers or some such are used to seed it each block so that people cannot pre-compute the entire future-history of which blocks will have the super-high rewards? -MarkM- |
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How high is the starting difficulty? Are the blocks starting to be found at faster than the target speed already or is the starting difficulty high enough that is is going to take a lot more miners than have even seen the thread yet before the time between blocks becomes as fast as the target time?
-MarkM-
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Are the "random" numbers used to make the rewards "random" deterministic, so that all nodes will all agree on the correct "random" reward for each block?
Because if they do not agree what reward the block should have, they will reject it, the net will split and split and split constantly as each node comes up with a different concept of what the correct block reward for a particular block should be...
At a quick glance I don't see the necessary determinism... where is it? If it is there at all?
-MarkM-
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Oh yeah for sure, King Arthur, King of the Britons running an exchange, what's not to trust?
-MarkM-
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I would keep it elite and exclusive.
Only deal in whole bars, no shaved bars nor shavings nor dust.
For that alone it is tempting to create an asset contract for them and issue them on the Digitalis Open Transactions server so they can be traded against any/all of the other assets that are issued there.
All assets are in integers so that way there will also be no offering fractions of anything for the whole bars, only offers of whole numbers of coins shares etc.
No percentage fees on trades, just one usage token per API call whether it is an API call to place an offer or to see an account balance or to see offers on a market or any other API call.
This bar things seems like it is made for such a server!
Of course since anyone can issue assets on the OTdemo server, anyone could also issue them there, heck several people could each issue them there, and trade them against any asset anyone chooses to issue there...
Massively more secure than a web-based system too. Exclusive for now due to only the elite have installed Open Transactions clients, but soon iPhone and Android apps for Open Transactions will be released...
-MarkM-
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I suggest Tenebrix
If you can get it. Better to mine it though, it is still mine-able using CPUs. So is Fairbrix. Also GeistGeld. So best to just mine them until, like BBQcoin, the GPU miners return, they get on an exchange, and you can cash in. (I have been getting 1 BTC per 10,000 BBQ all day.) -MarkM- |
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Okay you got me there. Parallel evolution of blockchain based currencies is far-fetched. (But hey if it happened maybe they'd also have hash collisions!  ) -MarkM- |
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Alcohol, eh? Sure, but... pure grain alcohol, right? Not any of those watered down clones like Scotch, Vodka, Brandy and all those imitators?  -MarkM- |
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Yeah that is why banks never went mainstream, too many loansharks, so godamn many moneylenders joe public couldn't tell them apart.
Idiot, it is precisely to tell themselves apart that they GO mainstream (aka sell out to the establishment). Duh.
-MarkM-
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Reborn... Like BBQcoin... Next up maybe Tenebrix? Or GeistGeld? Or CoiLedCoin? Or even Fairbrix?
-MarkM-
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Its why we never see candy bars anymore.
Too many different flavours of candy-bar totally destroyed the market.
-MarkM-
Actually, people decided that they wanted better candy and started buying it from candy shops. So, yes there are fewer candy bars in the local mini-mart but there are more candy stores making their own candy. Bad analogy... I work in the candy industry. In case you hadn't noticed, we are in a candy shop right now!  Scam scam scam scam Scam scam scam scam Wonderful scam, lovely scam! I'll have scam scam scam bits devs and scam without the scam, please! Can I have scam scam scam scam rat scam and scam with a little less rat in it, please? Etc. -MarkM- |
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A bar of microbitcoins, maybe?
Maybe millibitcoins?
-MarkM-
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Are you in the "OTC Web of Trust" ( http://bitcoin-otc.com/ ) ? If so then maybe you can also get people to "rate" you there to build reputation. You might also find this thread interesting: https://bitcointalk.org/index.php?topic=124441.0I think that is the one that recommends using the Web of Trust? Or does she have a separate thread dedicated to that? EDIT: Yeah that thread is the one. You aren't in bitcoin business if you aren't in the Web of Trust! Haha. Controversial maybe? -MarkM- |
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Its why we never see candy bars anymore.
Too many different flavours of candy-bar totally destroyed the market.
-MarkM-
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