How much do you believe Extremecoins are worth at the moment?

I am brain storming lots of ways to keep people mining even after the block reward has gone.

The first is a fixed percentage transaction fee, which is much more fair than a fixed one of say 0.01, as what happens if you want to send someone 0.01, they end up getting nothing from you and the miners get it instead.

The next could be to make a P2Pool with which the miners on that pool can receive random bonus reward from users of EXC who donate and the sendmany idea.

The last one which is more of a question, is if all the people mining EXC right now, don't sell or get rid of their coins or think they might be worth more in the future, would they not mine, even just with a little bit of their hashing power just to help keep the chain running and receive random transaction fee's in the process as a little bonus?

There are a lot of questions as this has never really been done before but it does need to be figured out, as this is going to happen at some point to almost every Crypto-Currency we have at some point in the future.

That would mean you place the value of all the EXC coin at 20 Bitcoins.

The price of owning every single coin in a Crypto-Currency at just 20 Bitcoins, it does not matter if it is even for this coin, for any crypto that price is so cheap that a part time trader could buy them all up without blinking.

I don't think anyone will accept your offer, not now at least.

Hi all,

Just to let you know that Extremecoin is now on Twitter : @Extremecoin

This will be the best place to keep updated about this coin and to get information out quickly.

I will be using it loads over the coming weeks and updating it literally as I make changes to the soon to be released Version 1.1 update which will be mandatory, as it will have updates to help keep your coin safer.

Thanks

I have made a new post on the main website detailing the actions I will be taking with this coin and how I feel about it.

http://bbqcoin.org/

Cheers

I am also brainstorming other ways to motivate miners to continue to mine EXC, other than standard TX fee's once the block rewards have stopped.

This could involved a P2Pool and the sendmany system but these are all the ideas.

If anyone in the community has some great input in this matter, I would be grateful, this is not my coin, I just developed and released it, it is the community's coin now backed by those that mine it and support it by spreading the word of EXC.

That's why I love the decentralisation trait of all of most of these currencies.

Bounty paid to Lollaskates for putting up the first pool and so quickly too.

Details of payment:

Status: 1/unconfirmed
Date: 18/08/2013 10:07
To: Lollaskates EXC Pool PPzTJbeBhUsVdBpJow5e8EzRTW9gV1nZf6
Debit: -5000.00 EXC
Transaction fee: -0.04 EXC
Net amount: -5000.04 EXC
Transaction ID: fbe6bbbee43ceaeef1f77c4d5c3d9000b23cdeaa34207aa7c48c92d806aa0f16

I am working on the client update Version 1.1

This will include added checkpoints, a fixed transaction fee and Icon changes, to give a slight custom look to the client.

This fee will be there ready for when the block reward stops so the miners still going can get some reward back from the fees.

This should hope to safe guard the future of EXC and let it continue pass it 2 month period.

Getting the coin on an exchange is really going to help this, so for any supporters of this new Crypto, lets try and push that if we can.

It will be interesting to see how this coin would trade on an exchange with only 4 million total coins in circulation. With transaction fee's, trading and service/product purchases the only way to get hold of any EXC.

Then I can look over the next few weeks at how the fixed transaction system is playing out and it is needs to be tweaked a little.

Any due bounties will be paid today.

Many thanks

Payments sent to everyone on this thread.

Thanks.

Does that mean I get into the Crypto history books for the first coin to get naturally mined dry?

As Bitcoin will end up this way at some point, you are right in saying it would be good to see what happens after they have all been mined up.

If this coin does get on an exchange, then I can sort out services and places to spend EXC, which will increase block TX fees, of which in a client update closer to the time I may add a fixed TX fee.

Its ok me mining the coin for no reward to keep it going but it would be nice with other miners were still mining due to the amount of TX fee's.

Later on as we get closer to the 2 month zero block reward, I may do a client update to include a fixed transaction fee, to give miners at least some incentive to mine EXC, that could be an option.

I will sort out the bounties that are due tomorrow, have some mates over now, few beers, maybe some FiFA 13, if the other halves don't get too bored. Xbox Gamertag captchadd if you fancy adding and a game?

Then I will look how things are going with the network and start planning Extremecoin Client V1.1, there is always something that can be improved and I always value the communities input.

And in response to a few other posts, from my Crimecoin "test" release, it is known that I hate Pre-Mining just for the sake of it, that is just greed.

That is why you will see me mining on the EXC pool, just like everyone else, as once the bounties have been paid, I will be no better off than anyone else.

I do this as a hobby as I enjoy it. I make my money doing BTC to USD trades and dabble with a few other Crypto-coins. I don't seek to profit from coin releases.

Thanks for the advice and support so far everyone, it means a lot and strives me back to the drawing board of inspirational out of the box thinking, with Crypto's.

I am going to add a thank you section I think to the Extremecoin website, as there are a few people that have really helped me the last 6 months and I have learnt more in that time than the whole 3 years I have been involved in the Crypto world.

Cheers.

You are right there and that is something to think about over the next few weeks.

With the pool I am getting a Pool 0 Stratum Auth failed type error.

I have never seen this before, does anyone know what it means?

I think I might have included testnet blocks in that figure. Not sure. But I am being honest with what my QT client was saying to me.

networkhashps" : 37369205

I am guessing things will calm down after a while.

No problems mate.

You know me, always looking out of the box for new ways to play around with the same basic LTC clone.

At least this one has a better name than my last :-)

It can be mined with both but with the GPU mining going on right now, I am getting rejects too, I would say GPU only.

There is no pool yet, hence the bounty for one.

Cheers.

Source code added.

If I need to I will add more bounties for more services.

I pride myself on being honest and transparent.

Thanks

You will get rejects to start, the hashrate is 14 million and at this difficulty it is expected, things will calm down as the difficulty adjusts.

Its not a pre-mine, its all going out on bounties. And I did test it on the test net and the main net too. I want to be sure both work.

I then give all the pre-mine out and then mine just like everybody else, the same as I did with my other coin.

I pride myself on bring honest.

I am uploading the sourcecode to Github now.