Install mpfr.

The PPC difficulty adjustment algorithm has some properties we don't like. We are currently working on our own difficulty adjustment algorithm that will have relatively fast impulse response.

Reports of Freicoins demise have been greatly exaggerated.

Checks and balances. There's concern that the proof-of-stake voting could be gerrymandered into "pay me all the demurrage. kthx!" The miners would be able to reject such a budget (at a cost).

I'm glad I got notification about the new posts, because I somehow missed this one. Yes, we could use your help or the help of anyone here in devising a protocol for Republicoin. One of my TODO tasks is to compile all the thoughts that we had about which are currently spread all over the forum. But in a nutshell:

If it were implemented in time, Republicoin budgeting could be used to distribute the remaining Foundation funds. However the long-term purpose is to more efficiently distribute the 4.9% perpetual demurrage-offsetting subsidy. A bicamerate proof-of-work/proof-of-stake congress would first come to agreement on the split between money going directly to miners and money distributed through budgeting. Then the proof-of-stake voters would come up with a budget, of which the proof-of-work voters (miners) would have veto power. If it passes, it then becomes the network rule: blocks are rejected unless that portion of the funds are spent within the coinbase according to the current budget.

As for how it would be implemented, the obvious solution is some sort of digital signature voting protocol on a meta-chain - that is to say merge-mined alt chain with the specific purpose of timestamping signed ballots. That's getting a bit ahead of ourselves though, as right now what needs to be done is the selection of a suitable distributed voting protocol, of which there are probably examples in the academic literature, and determining how proof-of-stake signatures will be constructed (unsolved problem, as far as I'm aware).

I apologize if this sounds dismissive, but I have only a few hours a week I can devote to Freicoin and I'd rather spend that implementing infrastructure and new features (like republicoin) than handling non-essential PR.

Well we weren't willing to wait, that was our weakness.

However one outcome is to sit on the coins and do nothing except provide a little bit here and there for the most widely popular and necessary grant proposals and infrastructure prizes, but let the rest sit in escrow being eaten away by demurrage. Once a proper p2p mechanism is in place (like republicoin), we could setup a cron job to spend the coins according to the current p2p budget. Indeed this is the default outcome we are currently on, since we are unwilling to spend the coins arbitrarily without community support.

The only thing holding us back from spending these coins via a p2p voting process is that such a process only exists now as an idea. Otherwise we'd be using it! However if you have time to contribute, we could use your help in creating just such a p2p distribution process.

EDIT: @Etlase2, honestly that's only really been a hang-up in the crypto-coin community, but getting it in use by people who don't evalutate it for its speculative value. In our conversations so far (with Gesellian monetary reform groups, for example) it hasn't been an issue.

The idea of 'republicoin' emerged very late in the beta testing stage, only a month or two from the final release. At the time we were intending to give 100% of the initial distribution to miners, but none of us were completely happy with that result for various reasons including what @Impaler has said above. However proof-of-stake voting on budgets is only an idea at this stage, and one that is not fully fleshed out or tested. We don't know if it will work the way we think it will, with a Nash equilibrium settling in on a reasonable, fair budget compromise, or if tricky users will find ways to gerrymander votes for selfish purposes.

Initial distribution through a Foundation was a half-way compromise. It let us release now and focus on getting the currency widespread adoption, while also buying us time to figure out how to properly distribute those coins. However the hope from the very beginning was that republicoin proof-of-stake voting would be properly tested and implemented before the end of the initial distribution period, at which point we'd transition whatever centralized process we have to a distributed, p2p mechanism for determining what to do with those funds.

We could use your help, and the help of anyone interested in p2p, coercion-less governance by protocol in defining how budgeting and hybrid proof-of-work/proof-of-stake voting will work, writing the code, and testing it out.

That's a result trivially derived from probability theory.

Difficulty is approx 20k, and is going to increase soon. You can plug that into various mining calculators to see how long it will take.

There's no reason not to throw your hash at p2pool, however, and you can run your own p2pool daemon if you want to avoid the fee.

Worried? Save it to usb key, load on linux live cd with no network connection.

Blockchain.info wallets has nothing to do with bitcoind accounts.

That more likely indicates how illiquid these markets are.

You are. Foundation coins will only be spent as part of a community vetted process.  You can join the conversation at freicoin.org.

Inflation and demurrage are you it the same thing.

It does not prevent a double spend, has the problem of keeping a node with the transaction online and broadcasting until then,  and still has the problem of safeguarding the output key until then. Confirmation now would eliminate the first two problems.

Elwar, I'm very sorry for you loss. And I'm sorry for reviving a month-old thread, but I don't think it was clearly answered. Specifically, nLockTime does not do what you think it does. If I understand you correctly, you want to make the coins unspendable until your niece is 18, correct? This is not the function of nLockTime. Rather, you should send the coins to an offline, paper wallet, and use oldschool techniques (lawyers, trusts, time capsule, etc.) to make sure that the paper wallet containing the private key (and instructions for how to use it) come to her at the right time.

The genesis merkle root is output in debug.log. It's calculated in this line:


I wrote that Python script I linked to. Ask me if you have any questions.

You may find this helpful:

https://github.com/freicoin/freicoin/blob/master/share/find_genesis_block.py

As the primary developer behind Freicoin, I've made modificaitons to Satoshi client such as implementing interest/demurrage, and adding a budgetary mechniasm for enforcing coinbase outputs. I am a Python web developer by trade, proficient in the skills necessary to implement Bitcoin services or applications.

My current rate is $50usd/hr, but payment is preferred in bitcoins (at an agreed upon exchange rate). Post here or PM me if you're interested in hiring me for a project.proficient