We will keep the name as we are not releasing a new coin, but fixing an existing one. But we have a new website, new social media accounts and a new logo.

What's Asian about Asia Coin is the culture around it, the website, logo, etc. This coin is not made to promote anything related to Asia or to bring any value to Asia. This is not a so-to-speak *bring freedom and democracy* country coin.

Our first stage of IPO will be end at 8-May 00:00, after that we will not giving out free coin.

God, I almost forgot I had this currency。。。

hey guys,

what's with the hashrate drop on the multipool? we almost reached 200mh yesterday, now we're back to 100?

is cinnipool.co the only one? which one is the most profitable?

We had almost 1 000 votes on Mintpal and now it is 200, what's wrong?

So MYC is listed in the first exchange now!

Only 14 days left until dumpminers can do us no harm. Although this could just as easily have been an early adaptor deciding to cash in a little. Ah well nothing to worry about, actually now i kinda hope it goes a little lower so i can get maximum PND before we hit end of the mining era I'm convinced we'll get steadily above 5 satoshi before too long.

@mke0192: Kind words, couldn't agree more. Nice to see you show support and sign-up.

--

Seeing there haven't been any more free PND request from the AC community. Is it safe to assume there's probably not gonna be anymore?

TL;DR: no

The long answer:
I don't think so. Server can't lie to you about blocks (it's computationally infeasible, similar to 51% attack). You as a client can always verify the transactions provided by electrum server by following their history back to the coinbase transaction (though a simple electrum wallet does not do this, it just blindly trusts the server, which is ok for just a wallet - but to generate a block AND have it accepted by the network, you need to be 100% sure). Transaction hashes from a block are connected to the block's hash through the merkle tree hash, so you can verify that the list of txs provided by the server really belongs to a given block ('cause a block "can't" be faked).

(This would kinda require you as a client to keep a few full blocks somewhere for quick reference as it's impractical do re-download the same block over and over again while verifying a single tx's history. Potentially, the client can have a trusted checkpoint hardcoded and not check history before that, which would speed things up even more.)

So, if the server can't fool you into something that's wrong, it could try simply denying service to you - ie. pretending that the current network block height is just 123 while the real network is already on block 500. The solution for this is also quite simple from the client's perspective - just do a little of p2p communication with a few random peers (provided by eg. dnsseed server, or from its own cache or something) and just asking them for the number of blocks they've got (quite simple). And if the server has a lower height than the random peers agree on (needs filtering as even a peer can send you a bad number), then either it's stuck on a bad fork, lagging or lying - either way, a bad idea to use that server for PoS mining.

As for the lagging problem, the possibility that the PoS blocks you mine will be orphaned is somewhat higher than if mining with a full node - tho it's not as bad a problem for PoS, really - you can simply reuse the coinstake (ie. try again) a few times within a certain time period (and also, it's not like you don't have whole 2 months of time to collect your interest).

However, I think of it like the PoW mining pools we have today - with a bunch of electrum servers, you can choose your "PoS pool" (it can be automated) and just trust that it doesn't tell you bullshit (you just validate the chain work and txs of interest, and the standard electrum client already does that). This saves you as a client a lot of work, you don't have to connect to p2p nodes (which can even be impossible from the internet connection you're on - electrum was designed to also work over heavily restricted connections by utilizing eg. the http port 80 for its protocol and most firewalls allow at least that). You can also check with other servers whether your PoS block has gone through the network successfully. Or even utilize more than one server at a time, whatever.

Although the server does not seem to have an incetive for you to PoS mine, it's not quite true. It can either choose to serve you a lil' bit of valid data OR a thousand times more data for you to verify everything yourself (which costs the owner of that server performance and bandwidth). Even if someone didn't care about the costs and tried to fool you anyway, you wouldn't really be harmed (you can always earn your interest later via another server or even a full node if all the servers were bad for some reason). So a bad provider can't make you lose anything while he loses substantially more resources than by playing fair.

As far as your question goes, centralization of PoS mining would IMHO be something like one server with a big wallet (like a bank) where a lot of users send their money to accumulate interest. While the electrum server has absolutely zero control over your funds/interest and you can always effortlessly switch to another server for whatever reason.

whew

1. BTT Sr. Member 10000
2. BTT full member 30000
3. BTT member 70000
4. BTT Jr. Member 150000
5. BTT newbies 20+ posts 300000 

:Peace:

This sounds reasonable right now.

Just to see what it would look like to take the 100% stake a little further and halve the rate every four months, I came up with the figures below. My math should be checked. I figured halving is a term more people in crypto are familiar with and the numbers come out to about the same after two years. After that you can use the same 2% from then on out.

Coins now: 171,000,000

• Year 1, Month 1-4 :  100% - 228,000,000 AC
• Year 1, Month 5-8 :  50%  -  266,000,000 AC
• Year 1, Month 9-12 : 25%  -  288,166,666.7 AC. This is the end of Year 1
• Year 2, Month 1-4 :  12.5% - 300,173,611.1 AC
• Year 2, Month 5-8:   6.25%  - 306,427,228 AC
• Year 2, Month 9-12:  3%    -  309,491,500.3 AC. This is the end of Year 2
• Year 3, Month 1-4 :  2%   -   ...
• Year 3, Month 5-8 :  2%   -   ...
• ...

No idea if this is better or worse. I was just curious.

Also, I'm assuming we're talking about block numbers as to when the rates change and the months are just estimates?

I lol at all the people that say a coin is that after one small drop. It is usual when there is a (exchange)launch that people dump, that happens to almost every coin that gets added to Mintpal/Cryptsy. It will take a few days before that effect ends.
My advice don't buy on the first day of a coinlaunch, don't panic when the price goes down a bit after the first few days.

I think the worst dump is over (550 satoshi) we are almost back at 700 don't worry 


Oh one last advice buy now because this coin will sure hit 10.000 some day with a supply of only 60.000.000 coins.

Why  Coin2 is force from rally to real value? The powerful mining groups who oppose the concept of fully mined coins succeed.
These very few trying hard squashing Coin2 will eventually change their minds once they realize the unrealized profits and benefit holding a few coin2 in hand.
For those who still has some C2, hang on your coin2...rally will resume once the dust settle.

Here is the possibility why Crypto-Currencies will become more value and more secure investment many never expected.
http://moneymorning.com/ext/schiff/articles/schiff-americans-will-lose-everything-in-coming-market-crash.php?iris=182531

The authors are bunch of closed minded old school financial analysts who fail to acknowledge the crypto-currencies influence in the future society whenever  there is a ripple in the economy.

Also, this could be the beginning of the future that every digital coin owner must have card.
http://www.indiegogo.com/projects/pitbull-wallet