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1  Economy / Digital goods / 2 x S7 Antminer $100 off coupon on: May 08, 2016, 04:13:57 AM
PM me if you are interested in purchasing these 2 x $100 off coupon. Only one coupon can be used per one S7 Antminer (So you have to buy 2 S7 Antminers to get the full $200 off, 1 S7 Antminer will get you $100 off).

I'm looking for 0.05 BTC or 45,000 YAC for the coupon!

Hurry... This coupon expires on May 11th (Chinese time I assume)--less than 3 days!

Thank you very much.
2  Economy / Economics / The Case for a Constant Proof of Work ‘Inflation’ Rate on: February 02, 2016, 09:23:20 AM
This post is a repost from foruim.yacoin.org (https://forum.yacoin.org/index.php?topic=746.0) and is in the context of implementing it with YACoin...


The Proposal
The idea is for a PoW ONLY system that simply bases the next block reward as a function of the total supply to achieve an annualized ‘inflation’ (coin-generation) rate of 2%.

(total supply) X (annualized inflation rate) / (blocks per hour X hours per day X days per year)

To demonstrate an example, the next block reward under this new construct would be

81536148 X (0.02) / (60 X 24 X 365.25) = 3.1 YACoins per block and so forth…

Strength through Simplification

With each coin, one has to ask what the block rewards currently are and what they will be in the future. It is weakness of many coins but also arguably a weakness with Bitcoin… 21 million coins total (arbitrary and will never actually be reached) with block rewards decreasing every 4 years (A seemingly drastic event every time it happens which causes uncertainty).

With a constant inflation rate, it is simple to understand. One does not have to think about the next time block rewards will be cut in half. It is easy to explain because inflation is a concept built into our current money supply of government fiat:  http://www.federalreserve.gov/faqs/economy_14400.htm

Rewards Early Adoption; Rewards Future Investment

In recent history, when a cryptocurrency goes through a change in the block rewards payout structure, it is usually in an attempt to benefit an ingroup at the detriment of an outgroup. That ingroup almost always consists of the ones who consider themselves the “Early Adopters” who want to keep the value of their coins high while decreasing the rewards to ‘miners’. What is misunderstood is the function of miners in securing the network from attack.

The Constant PoW proposal benefits everyone. If implemented tomorrow, the PoW block rewards will decrease from 100 YACoins to 3.1 YACoins. The total supply would have to equal over 2.6 billion before we would ever see rewards like that again, which would be in over 170 years.

The competition for those increasing PoW rewards will spur investment in technology and energy that will come with the need for capital costs as well as operating costs to mine, ie specialized chips and efficient, independent energy systems. It certainly will not be without risk to newcomers, but the increasing rewards will incite new players—big, small, innovative, driven, influential. Also, it is not accurate to say that the 2% increase in total supply will steal value from the existing supply. In fact, the value of a single YACoin could increase in the long-run (certainly in the short-run). Transaction fees will still be destroyed as is the case now, so the supply could theoretically decrease over time. Ideally, each YACoin will be at a stable value in the long run, as you would hope to expect for a functioning currency.

PoW vs PoW/PoS

The PoW/PoS Hybrid concept was created experimentally--first with PeerCoin (https://peercoin.net/whitepaper). The idea was to offer a system less prone to a 51% attack by integrating another “Proof Of” mechanism, and it is also is supposed to reduce energy consumption. Issues have arisen in the chain trust mechanism where long chains of PoW-PoS can be ignored by a long PoW chain. Even with preventative measures, a PoS-PoW combination attack is not impossible. In terms of energy consumption, there are plenty of pure PoS coins that are obviously better than PoW-PoS in that arena.

Proof Of Work is tested and proven. The main chain protocol determines the main chain simply by the total work done by the chain. There is no evidence that PoS-PoW prevents an attack, although it may make such an attack more complicated.

Further, PoS rewards people for simply keeping their wallet open. Those who want to keep their coins safely secure in cold storage, miss out on rewards. It is not definite or clear when exactly your wallet will stake. There is a tool to help predict when each input will stake, but it still does not bode well for the cause of mass adoption.

Economically Sound

The Federal Reserve in the United States targets a 2% inflation rate, and according to them, “Over time, a higher inflation rate would reduce the public's ability to make accurate longer-term economic and financial decisions. On the other hand, a lower inflation rate would be associated with an elevated probability of falling into deflation, which means prices and perhaps wages, on average, are falling--a phenomenon associated with very weak economic conditions.” http://www.federalreserve.gov/faqs/economy_14400.htm

No matter one’s opinion on the fed, it has been around much longer than cryptocurrencies. The long-term inflation rate of Bitcoin is actually negative because of the amount of coins lost in ‘dust’ or in lost private keys or in coins sent to an empty address, etc. At this moment, however, the ‘inflation’ rate is around 10%. There is a lot to be concerned about with Bitcoin when it approaches the inflation rate below that which is considered dangerous for a currency. There seems to be no focus on price stability, so a coin that has that in mind will have a perceived advantage over the others.

Destruction of Fees, Construction of the Perfect Economic Model

Even though I reference 2% as an ideal target inflation, it would actually be a MAX inflation value. Theoretically, YACoin could be price deflationary AND supply deflationary due to a canny feature already in place: destruction of fees.

In reference to the equation of exchange (https://en.wikipedia.org/wiki/Equation_of_exchange), the velocity of money is something to keep in mind when considering block rewards. Rewards due to PoS, tend to have a low velocity (hoarders continue to hoard), whereas we can assume rewards due to PoW will result in higher velocity. In other terms, PoS rewards do not require any 'work' (resources, energy, maintenance); contrastingly, we know 'miners' do not tend to sit on their PoW rewards so much since mining comes with unavoidable costs to pay to continue operations (large-scale mining especially). With YACoin under the proposed system, higher velocity will equate to more transactions, which will lead to an increase transaction fees, which will lead to a decrease the money supply, which will lead to a decrease block rewards, which will lead to an increase the value of each YACoin (barring speculation). Thus, if a miner isn't rewarded through more YACs, he will be rewarded by the increase in value of YACs. Similarly, people holding on to YAC because they believe in it as a store of value, will be rewarded with price deflation as the YAC economy grows. People keeping YAC in cold storage, as a secure method of protecting their assets, will not be punished in lost opportunity cost for not participating in PoS. In regards to the economics, it will be a brilliant scenario, a revolutionary scenario.


Bitcoin's Failure = YACoin's Success

As we witness the scalability debacle play out with Bitcoin, it is apparent that rewarding miners on only transaction fees in the future is a broken system. Bitcoin faces a paradigm that makes a more efficient system for processing transactions (larger ledger) result in punishing the ones securing that system. It is a catch-22 that will require Bitcoin to fork to survive. It is inevitable.

YACoin can capitalize on the valuable lesson trying to be taught. It is important that YACoin strives to be in competition with Bitcoin and not just try to reach the top 10 in market capitalization.

Spotlight of Innovation (Continuing the YACoin Legacy)

Ever since inception, YACoin has a reputation of being one of the most innovative coin out there. It was the first to have block rewards connected to difficulty—it hasn’t worked out so well, but the model was cloned many times. YAC was one of the first to implement the coin control feature. It was the first scrypt-chacha coin, which requires memory intensive hardware as opposed to raw computing power.

There are plenty of coins that have a constant inflation due to PoS, but a PoW model with a constant inflation rate will be unique. It will spark interest and discussion over the new model and make YACoin a magnet for innovators and entrepreneurs even more so than it is now. It will mean a lot to be the first to implement such a model as it will surely be copied.

With thousands of cryptocurrencies out there, exchanges and other services often ask what makes a coin innovative before they consider making it part of their service. It is important to stand out among the crowd. YACoin will do just that and beyond. At around a $40,000 marketcap currently, YAC is at a point where such a change is a great opportunity with very little to lose. It is established enough to prevent the label of ‘premine’ for those of us who obtained YAC through the old (current) block reward model. At the same time, there is a lot to be gained--limitless, almost.

Any comments, concerns, questions will be very much appreciated. This proposal should be considered a topic of discussion and not a plan to be implemented... not yet.
3  Economy / Scam Accusations / bumface - The Sad, Miserable Attempt at Scam Artistry on: May 29, 2014, 11:15:22 PM
Anything negative said about him is deleted from the self-moderated UTC forums. Please focus on the actions of bumface, which would have landed him in JAIL by now in a gov't regulated market. The people who have bought UTC have already suffered because of his actions, so leave coin bashing out of it please as much as possible.

1) He bought ASICs with IPO money??? Really?
2) text book manipulation and pump-and-dump - idiotically claimed that decreasing the block reward by a factor of 3 would increase the price per coin by a factor of 3. He tried to ORDER people to remove sell orders until it reached that point.
3) lies upon LIES - The title of UTC mentions ultra-fast 6 seconds! UltraCoin has a block confirmation time of 30 seconds (not even the fastest). He copied the YACoin feature of a stake minting checkbox, but he tried to say ULTRACOIN originated the idea.

More will be added. Make no mistake... investors in UTC were SCAMMED! You can post DELETED posts from the UTC thread here as well.
4  Alternate cryptocurrencies / Announcements (Altcoins) / Bounty: 10,000 YACoin Meme Contest! on: April 08, 2014, 04:41:39 AM
I am offering a 10,000 YAC bounty for a catchy, trendy, interesting 'meme' for YACoin. It is a contest, so your chances to win the prize depends on the competition. The idea is simple: provide outreach and create a 'buzz'. Not expecting Doge like results here, but I figure it could be interesting! The contest ends at the exact time of the next NFactor change -- Sat, 31 May 2014 14:13:52 GMT. There will be a vote after that to determine the winner. Ultimately, I will get the final say.

Some probably horrible ideas/examples of mine:

"One does not simply"
[That Lord of the Rings image 'one does not simply walk into mordor']
"check a box to earn interest"
"YACoin"

OR

"YAC is dying"
[Insert image of some idiot]
"Let's mine it!"

Here is the address for the bounty which won't be touched until the funds are sent to the winner:
Y5dcrWS6gqY15V5T4ytLthukRejMbGu3xH
Anyone please feel free to add to the bounty!

Good luck!

Contest runs in bitcointalk and yacointalk in parallel
http://forum.yacoin.org/index.php?topic=631.0

Edit:
Can't help myself. I gotta make it more fun... adding 2nd and 3rd place bounties.
Only 1 prize per person (based on username--no cheating!) Please limit entries to 1000 memes per person Smiley

2nd Place: 4000 YAC
Y5jtp1UauUojvbVMhYhfnNh1dQaM717osP

3rd Place: 2000 YAC
Y2b8s7mhniE5QhXiw99stEV5HU8DJb8pfJ

After the NFactor change there will be two rounds of voting:

Semifinals: vote for your top 3 favorite memes. Submitters can't vote for themselves. Vote by posting the image files or just the text from each one. Voting will last 1 week.

Finals: Only 3 memes may enter the final round, and one submitter may not have more than one of his memes enter the final round. Vote for your 1 favorite meme. Voting will last 1 week.

By June 15th, all 3 bounties will be awarded to the respective winners.
5  Alternate cryptocurrencies / Marketplace (Altcoins) / Introducing... YACrates! on: February 23, 2014, 11:36:37 PM
This is a concept I've been flirting with for a while, and I think it's time to put it into action. Bottom-line, I'd like to sell a YACoin mining rig and potentially grow the idea if enough interest warrants it.

For the first step, I want to offer a rig to just one person, maybe a couple (first come, first serve), and see how it goes, receive feedback/new ideas and go from there. I envision YACoin to thrive upon two pillars moving forward: accessibility and ease of use. The litmus test I have is that if my parents can use the miner (and wallet), then we have something with enormous potential.

Back to the offer... here are the specifications of the first YACrate:

Motherboard: ASRock H81 Pro BTC
CPU: Pentium G3220
RAM: Ballistix Sport 4GB DDR3-1600 (PC3-12800) (1 Module)
Power Supply Unit: LOGISYS Computer PS550E12 550W ATX12V Power Supply
USB 2.0 16GB
Tenda W311M 150Mbps Wireless N USB 2.0 Adapter
6  x  SAPPHIRE 100369LP Radeon R7 240 2GB DDR3 Low Profile w/ Boost Video Card
1 16x to 16x unpowered riser
2 1x to 16x powered risers
3 1x to 16x unpowered risers
Operating System: Xubuntu 12.10 (Though to run the rig you will just 'double-click' an icon--that's it!)
And for the best part... everything will be housed in a beautiful, sturdy Sterilite File Crate!

I promise to be prompt and proactive in providing assistance personally through Skype, email, private message, or phone.
I will setup the software prior to shipping it to you, so it should be as plug-in-play as possible.
Guaranteed a total hash rate of 11 khash/s AT LEAST.

I'm setting the price at $699 USD (including standard shipping). Payment in BTC or YAC ONLY. If you pay in YAC, you get a 5% discount--$664! Conversion will be based off of the current coinmarketcap.com listed price. Give me one week (maximum) to test the product and ensure quality and ease-of-use prior to shipment. Price fluctuates as well as difficulty, but the return on investment is MUCH better than DogeCoin or Litecoin rigs currently selling on Ebay.

NEW OFFER! Purchase with YACoin, and you will also receive 2 YACoin bumper stickers !  

If you are interested in the offer, please contact me via private message. Please feel free to provide thoughts and feedback even if you aren't interested in the deal. If someone wants to offer a similar service/product, don't feel any obligation toward me. I am long on YACoin, and I believe this concept will spur the progress of the YACoin economy. If there is enough interest, I plan to sell through a website. Thank you.

EDIT: Due to hardware changes, the price has been reduced SIGNFICANTLY from, $790 to $699 ($750 to $664 for YAC payment), and GUARANTEED hashrate has increased from 10 khash/s to 11 khash/s.
6  Economy / Scam Accusations / BTER SCAM on: December 28, 2013, 03:54:50 AM
China1  9:09:15 PM
用户 LTC 出入资金统计结果:

用户ID:   7407
用户名:   Beave162
Email:   aococ555@gmail.com
可用余额:   122.1561
挂单锁定余额:   2.3749
总计余额:   124.531
充值金额:   5236.8342
正在提现金额:   0.0000
已经提现金额:   6165.1688
已经买入:   8678.4339
已经卖出:   8924.9115
推广佣金:   0.0000
充值 + 已经买入 + 佣金:   13915.2681
提现 + 已经卖出:   15090.0803

(充值 + 已经买入 + 推广佣金)13915.2681 - (提现 + 已经卖出)15090.0803 = -1174.8122

总计余额 = 124.531
账不平,需补1299.3432个LTC
账不平不能提现
Ben  9:10:28 PM
what does this mean?

You are trying to steal LTC from me?

This is YOUR error... not mine!
Ben  9:12:56 PM
It goes away as I make more trades!!!  See it doesnt make sense!!
Ben  9:14:28 PM
What are you going to do?Huh?
China1  9:21:02 PM
The account is uneven, not to mention now
Ben  9:21:52 PM
THAT IS NOT MY FAULT!!  YOU ARE STEALING MONEY FROM ME
China1  9:22:02 PM
The above statistics you send money, you can see the income and the account balance, a discrepancy
Ben  9:22:25 PM
That is YOUR ERROR not MINE!!!
China1  9:22:56 PM
We just give you money, not a penny of your button
双语对照
Ben  9:23:59 PM
What?

Ben  9:25:05 PM
How are you going to fix YOUR error that is costing me money??
China1  9:29:08 PM
Funding statistics you owe money
Need to mention now Ping Zhang
Ben  9:29:58 PM
Ping Zhang?

How much do you think I owe?!?
China1  9:32:34 PM


Ben  9:33:19 PM
1300 LTC??
I will post this online so everyone knows you are a complete scam... understand?
7  Economy / Scam Accusations / BTER SCAM on: December 28, 2013, 03:49:26 AM
China1  9:09:15 PM
用户 LTC 出入资金统计结果:

用户ID:   7407
用户名:   Beave162
Email:   aococ555@gmail.com
可用余额:   122.1561
挂单锁定余额:   2.3749
总计余额:   124.531
充值金额:   5236.8342
正在提现金额:   0.0000
已经提现金额:   6165.1688
已经买入:   8678.4339
已经卖出:   8924.9115
推广佣金:   0.0000
充值 + 已经买入 + 佣金:   13915.2681
提现 + 已经卖出:   15090.0803

(充值 + 已经买入 + 推广佣金)13915.2681 - (提现 + 已经卖出)15090.0803 = -1174.8122

总计余额 = 124.531
账不平,需补1299.3432个LTC
账不平不能提现
Ben  9:10:28 PM
what does this mean?

You are trying to steal LTC from me?

This is YOUR error... not mine!
Ben  9:12:56 PM
It goes away as I make more trades!!!  See it doesnt make sense!!
Ben  9:14:28 PM
What are you going to do?Huh?
China1  9:21:02 PM
The account is uneven, not to mention now
Ben  9:21:52 PM
THAT IS NOT MY FAULT!!  YOU ARE STEALING MONEY FROM ME
China1  9:22:02 PM
The above statistics you send money, you can see the income and the account balance, a discrepancy
Ben  9:22:25 PM
That is YOUR ERROR not MINE!!!
China1  9:22:56 PM
We just give you money, not a penny of your button
双语对照
Ben  9:23:59 PM
What?

Ben  9:25:05 PM
How are you going to fix YOUR error that is costing me money??
China1  9:29:08 PM
Funding statistics you owe money
Need to mention now Ping Zhang
Ben  9:29:58 PM
Ping Zhang?

How much do you think I owe?!?
China1  9:32:34 PM


Ben  9:33:19 PM
1300 LTC??
I will post this online so everyone knows you are a complete scam... understand?
8  Alternate cryptocurrencies / Altcoin Discussion / 10,000 YACoin Bounty on: October 16, 2013, 04:06:49 AM
Giving away 10,000 YAC for a website like coinchoose.com, comparing mining profitability except based off of YACoin.  YACoin becomes very profitable to mine with both CPU and GPU with each NFactor increase, and it needs to be advertised.

Edit:
Here is the address with 10,000 YACoin loaded:  YLNhNhRVspJMZLBN4PcSjkLsVTd3TMaq7R
9  Alternate cryptocurrencies / Altcoin Discussion / 25,000 YaCoin Bounty on: August 17, 2013, 02:51:36 PM
I am offering this bounty to anyone who can solve this problem for me...

When I send YaCoins from my wallet, I do not know the coin age of the coins that are included in the transfer, so I want certain features built into my wallet (I have WINDOWS 64 btw):

-tracks coins in the wallet according to their respective coin age
-allows the ability to discern which coins (defined by coin age) to send when making a transaction
-[USER FRIENDLY--a term lost to many crypto junkies] I need to be able to do previous mentioned items without typing commands in a console

I have never offered a 'bounty' previous, so if there is something else I need to do, let me know.  

EDIT

The 25,000 was paid in full to sairon.  I believe sairon received other donations for his work.  Thank you sairon, and thank you for your continuing support of what I believe is the best coin.
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