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Betcoin is a cryptocurrency with a novel inflation model which is a hybrid between proof-of-work and proof-of-stake. In Betcoin, approximately 1/3 of the currency is paid out to miners and 2/3 is paid out to coin holders via gamified proof of stake. All betcoins accrue interest at a rate of 0.01% per 125 minutes and coin holders can realize their gains by staking their betcoins in virtual basketball games between 32 countries. The Betcoin currency runs on an application called PolyCash and uses a blockchain called Datachain. For more information about the project please visit https://poly.cash/We've recently completed some important upgrades to Betcoin like making it easy to install with Docker, and building a peer verification API that confirms if you're in sync with the network every 10 minutes. Betcoin uses the Scrypt mining algorithm and currently has a very low level of difficulty. Right now you can mine coins quickly even using a normal CPU. We need to get the difficulty level up in order to secure the chain, as we prepare to begin marketing this cryptocurrency to a wider market. Therefore I would like to connect with anyone who has Scrypt miners available for use. Please feel free to PM me or reply in this thread if you have any questions. If you're ready to set up a node and start mining please see our installation instructions on Github. https://github.com/PolyCash/polycash
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I have two bitcoin related domain names for sale, buybitcoins.com and sellbitcoins.com
If you're interested in buying either, please PM me with an offer.
We can use escrow.com to complete the sale.
"buybitcoins.com" in particular is a top bitcoin domain with great SEO value. I believe it could be sold for 10 to 20 BTC to the right buyer (like a bitcoin exchange). I'd be willing to sell it for at least 2 BTC.
For "sellbitcoins.com" I'd accept bids of 0.5 BTC or more.
Please feel free to post here or message me with any questions.
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I am working on a new cryptocurrency called Betcoin and need some help with next steps for the project. The software is ready to launch but I still need lots of help with branding, marketing, and getting listed on exchanges. Betcoin uses an innovative POW/POS hybrid model where part of the money created is given out to miners and part of the money is given out to players for betting on virtual sports. Betcoin runs on a blockchain called Datachain which uses the scrypt mining algorithm so I am also looking for people with scrypt miners to help secure the network. If anyone here is interested in helping out please feel free to DM me. You can read more about the project at these links: https://poly.cash/https://github.com/PolyCash/polycashhttps://github.com/datachains/datachain |
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I'm launching an eSports betting business & looking for some help. The goal is to provide maximum odds & payouts to bettors using open source P2P tech. The technology for this business is fully built. It makes extensive use of the blockchain for the underlying betting system, and also uses the blockchain for player deposits and withdrawals. You can read my post history to get some more information about this technology. Betting operates with no house and the payouts & odds for each event are determined entirely by player bets. I need some investors who can consistently wager money on eSports betting events. Currently we have very low betting volume which means that when bettors join, they find that they can't bet very much money without dramatically changing the odds on eSports matches. Investors will essentially set up their own "eSports betting hedge fund" where they'll bet on eSports matches. By betting on both sides of each match, investors can provide liquidity to betting events and also avoid losing or gaining much depending on the outcome of each match. If you're interested in getting involved, please DM me, reply with any questions in this thread or visit our eSports betting landing page: https://intro.stakemoney.com For more info on the tech behind this project, you can follow these links. https://poly.cashhttps://github.com/PolyCash/polycash |
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PolyCash is an open source betting protocol that makes it easy to create cryptocurrencies pegged to sources of value like dollars or bitcoins. We've been running betting games using play money and are now taking things to the next level by launching games where you can bet with real money. We are seeking partners to help us provide liquidity and hedge against the financial risk of bets placed by our end users. This protocol is designed to make betting as decentralized as possible. In PolyCash betting games, there is no house and odds are determined entirely by the bets placed by the players. When you bet you don’t send money to a trusted intermediary. Instead, bets are placed by sending coins to your own addresses so that you maintain control of the private keys for your bets. PolyCash can be used for betting on any topic. We currently have games running where you can bet on events where the winner is determined at random in a provably fair manner (see decentralized Rock Paper Scissors). We also have games running for betting on the winners of eSports matches (CS:GO, Dota 2, League of Legends and more - see https://poly.cash/esports-free/) We need commitments from several “betting hedge funds” in order to launch real money betting for eSports. Betting funds will wager money on betting events to help set the odds and to provide liquidity so that end users can bet significant amounts of money without dramatically changing the odds. PolyCash betting is designed for extremely low fees and provides odds and payouts much higher than traditional betting systems. With fees nearly at zero, it's easy for betting hedge funds to earn profit with low risk betting strategies that outperform the market. PolyCash is a platform for stablecoins and eSports betting will operate with coins pegged to the dollar. You can buy in and sell out at any time using bitcoin, but the bitcoins will be converted to dollars based on the exchange rate at the time of each transaction. Fees in eSports betting will be set to the low rate of 0.25% on the payouts of winning bets. You can register as a betting hedge fund by committing to purchasing as low as $1000 of in-game coins. To operate a betting fund, you should set up your own node. The eSports betting game will run on the Litecoin network so you'll install a Litecoin full node in addition to PolyCash. You can get familiarized with the PolyCash betting platform by creating a web wallet on one of our hosted nodes like https://poly.cash and placing bets in play-money games. If you’re interested in creating your own betting hedge fund, please respond in this thread with any questions, or DM me.
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Decentralized Rock Paper Scissors is a fast paced betting game with events ending every minute. Unlike traditional casino games, this game is P2P and fully open source. It is built on the PolyCash protocol. In this RPS themed game, one of the 3 options is randomly chosen as the winner based on the latest block hash. Bets are paid out on the following block via decentralized protocol. There is no house and no fees. Odds are dynamic and determined based on player bets. No house edge means you get higher odds than you'd get with traditional betting games. This is currently using play money and you can get 5000 fake dollars upon signup. We will soon be launching a real money version of this (and other games) so that you can play with real money. Please try it out and post your feedback in this thread. In addition to playing for free coins by creating a web wallet on our public node, we need people to install nodes. If you're interested in setting up a node, check out the project on github and feel free to contact me in case you have any problems installing. To start playing, please follow this link: https://poly.cash/rock-paper-scissors/Install your own node: https://github.com/PolyCash/polycashHere's a screenshot of the betting UI:  |
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PolyCash is the ultimate open source betting protocol. We are on a mission to disrupt the sports betting industry by giving higher odds and bigger payouts to bettors. eSports Promo is a promotional cryptocurrency to generate interest for open source betting. The eSports Promo currency will launch as soon as we get enough signups to get a good eSports betting game going. eSports Promo will launch with these parameters: | Coin name: | Promocoin(s) | | Supply: | 5,000,000 promocoins | | Blockchain: | Litecoin | | Distribution: | 50% to 90% promotional giveaway to users.
50% to 10% retained by PolyCash |
To distribute the currency and get the game going, we are giving away 25,000 promocoins to each of the first 100 players to join the game. That's 50% of the entire supply of the currency or 0.5% to each of these first users. If we quickly get 100 initial players, we'll give out an additional 40% of the currency, but with a smaller number of coins for the next users to sign up. Players should use their coins to bet daily on our eSports betting events for CS:GO, Dota 2 and League of Legends. We will add and resolve at least 5 betting events every day. There is no guarantee that promocoins will have any value. Please view your coins as an opportunity to try betting and to learn more about this project. To get 25,000 promocoins please send me a DM here. You must include either: - Your email address - Or your username on https://poly.cash- Or a Litecoin address where I should send your coins I recommend sending me your email address. This will ensure that you receive daily email notifications about your wins and losses and also gives me a way to contact you. If you don't wish to create a user account on https://poly.cash just send me a Litecoin address and you can still participate by installing PolyCash on your own computer. If you send me your email address or PolyCash username, your promotional coins will be given to you via your web wallet on poly.cash. After claiming your coins there, you can withdraw your coins to another wallet any time. We need a small amount of litecoins to issue the 5,000,000 promocoins. To contribute to this cost, please consider donating some litecoins: Litecoin donation address: LgR3Z96xLThAnoDVNy9o9neJzJRA74fisT View transactionsBitcoin donation address: 17azxyGhnA82RkVddHsQxFbisSQo2FMJCn View transactionsPlease note that you do not need to respond to this thread to receive coins but instead you should send me a direct message. This is to comply with the giveaway thread guidelines for this board. |
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PolyCash is the ultimate open source gambling protocol. PolyCash integrates with Bitcoin, Litecoin and other blockchains and makes it easy to create a cryptocurrency for betting on anything. We recently launched eSports Live $10k. This is a game for betting on CS:GO, Dota 2 and League of Legends using a stablecoin called "bucks" (USDB). This colored coin runs on the Litecoin network and is backed by $10,000 in real dollars. To bet on eSports, you first need to acquire some bucks. Bucks are not listed on any exchange, so for now, you'll need to purchase bucks by depositing BTC to one of the public nodes hosting the eSports Live $10k crypto asset, such as https://poly.cash. Your BTC will immediately be converted to bucks based on the current USD/BTC exchange rate. You can set up a wallet by either: 1. Installing Litecoin, PolyCash and eSports Live $10k on your own computer. 2. Creating a web wallet on a public node like https://poly.cashNow that you have a wallet and some bucks, bet on as many eSports events as you want. eSports Live $10k charges a fee of 1% on each winning bet. You can sell out at any time by entering a Bitcoin address. Buy-ins and sell-outs are not quite instantaneous because one confirmation is required on Bitcoin or Litecoin. This is a maximally decentralized betting platform and there's no house taking a cut. Instead, the 1% fee is destroyed, reducing the supply of bucks. The supply of bucks decreases as more and more betting fees are paid. But the $10k backing this currency remains constant, causing bucks to grow in value vs the US dollar. PolyCash is a pioneer of a concept called the "fixed term token" in which pegged coins are wound down for the sake of transparency rather than living indefinitely. eSports Live $10k will not live forever, and at some point this stablecoin will be wound down and the $10,000 backing it will be paid out to the coin holders via the Litecoin network. We have not yet set an end date for this $10k stablecoin, but will eventually do so based on feedback from coin holders. This eSports betting game is pegged to the dollar but we can just as easily create coins pegged to bitcoin, eth and more. We can also integrate data sources for betting on other topics like sports or stocks. Here are some screenshots of betting, buying in and selling out. Right click and open in new tab to see full size.    This project has been under development for a while and the concept has changed significantly since we got started. Please help us revolutionize the betting industry with open source software by making some bets with BTC or posting any questions or comments in this thread.
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I am building a blockchain explorer and found a couple of transactions which are causing problems for me. These transactions have no inputs and have negative value outputs. Furthermore, the negative value outputs have been spent in transactions which appear to have greater outputs than inputs. When I check these transactions on block explorers like Blockchain.com these transactions look ok. But what I get from running getrawtransaction and decoderawtransaction is not consistent with those explorers. The outputs that I'm looking at are: Created in tx 9789cf1e36def70ea44219c6c2bd633bf831a67cb659a19c2757b709883cdd6eSpent in tx 4faba86e9cc006378216defa5bb29c87826d8aa5d02c7a03af2c1f237ec98354Created in tx 797d455d6a13c9418a8c6d75aa119827c3b6036b015687e9de7f4d2f16bfadeeSpent in tx 8728c4ddc43c8f1259cb4fe08c28eea732f168b9960c3f40c0e5ac81baeddc0cCan anyone help me understand what's going on with these transactions? If this isn't the right place for this issue, please direct me appropriately. decoderawtransaction returns the following for the creation transactions: 9789cf1e36def70ea44219c6c2bd633bf831a67cb659a19c2757b709883cdd6e {
"txid": "2666d2a297ebfae94acde2de646da030e89390f8a5db47b28b2facd2aa115de8",
"hash": "2666d2a297ebfae94acde2de646da030e89390f8a5db47b28b2facd2aa115de8",
"version": 2,
"size": 247,
"vsize": 247,
"weight": 988,
"locktime": 577040,
"vin": [
],
"vout": [
{
"value": -17534850228.57082879,
"n": 0,
"scriptPubKey": {
"asm": "f741af6d43f263469ebdd637ef675f3993c8a4ba3a484700000000171600149f056ad3eca966bcc 2fd0d42094f832b OP_GREATERTHANOREQUAL b96ffeffffff0208154000000000 0 a9145d1de5b2624c864dec38c31c03ce231fc98d941d87 a107000000000017a91469f3770869d3e1050705a261ce889a5ad06279668702 30440220199d3ee61b66f104dedb00cd2c2ef9ec5f14d4c01616774d823ca005eeda10f502206c1 0a5c0b54d0c3afa453d2398b7972ee641290de2030ec5f0a827a0a3bbfad301 0270f02837ac8a22f0339de1682c691e09e329ed10cbabdcb327bbc5aa55688020",
"hex": "2ff741af6d43f263469ebdd637ef675f3993c8a4ba3a484700000000171600149f056ad3eca966b cc2fd0d42094f832ba20eb96ffeffffff02081540000000000017a9145d1de5b2624c864dec38c3 1c03ce231fc98d941d8720a107000000000017a91469f3770869d3e1050705a261ce889a5ad0627 96687024730440220199d3ee61b66f104dedb00cd2c2ef9ec5f14d4c01616774d823ca005eeda10 f502206c10a5c0b54d0c3afa453d2398b7972ee641290de2030ec5f0a827a0a3bbfad301210270f 02837ac8a22f0339de1682c691e09e329ed10cbabdcb327bbc5aa55688020",
"type": "nonstandard"
}
}
]
}
797d455d6a13c9418a8c6d75aa119827c3b6036b015687e9de7f4d2f16bfadee {
"txid": "d8467acfda16257379be1382ea79119157d2e44df8fae0e694f6f0b18f3faac9",
"hash": "d8467acfda16257379be1382ea79119157d2e44df8fae0e694f6f0b18f3faac9",
"version": 1,
"size": 225,
"vsize": 225,
"weight": 900,
"locktime": 0,
"vin": [
],
"vout": [
{
"value": -85052256939.66577919,
"n": 0,
"scriptPubKey": {
"asm": "15 dcd732092c3063a77677e25289666c3482343b9949a70100000000ffffffff0277baae000000000 01600148cd6335dc07c41004977476a589eca62 b6ea8be0a28d08000000001976a914fbc4c33466c70d971163ef30b3fcf0acc2698ee988ac02473 04402204ad820377dff239d04ff25dddb294f28cb22956586 11 c2fa8ddbcef9122b9202200fc0935ca6f50c85b80022ab2b62d527d625e4dce4c1dc48295d0de1c 77eb83b01 02d4e71f92096d026a383c3500c6bdb5688b40281e2e0cf42636aff8a8e271f828",
"hex": "5f3bdcd732092c3063a77677e25289666c3482343b9949a70100000000ffffffff0277baae00000 000001600148cd6335dc07c41004977476a589eca6240b6ea8be0a28d08000000001976a914fbc4 c33466c70d971163ef30b3fcf0acc2698ee988ac0247304402204ad820377dff239d04ff25dddb2 94f28cb229565865b2cc2fa8ddbcef9122b9202200fc0935ca6f50c85b80022ab2b62d527d625e4 dce4c1dc48295d0de1c77eb83b012102d4e71f92096d026a383c3500c6bdb5688b40281e2e0cf42 636aff8a8e271f828",
"type": "nonstandard"
}
}
]
} |
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PolyCash is a protocol which makes it possible to launch your own currency on top of any UTXO blockchain (Bitcoin, Litecoin etc). To create a new currency first install the blockchain of your choice. Install PolyCash and then import a text file defining your new crypto asset. This text file is called the game definition. Or use the game creator GUI to enter the parameters for your new asset. You can load any number of currencies into your PolyCash installation by importing their game definitions. PolyCash may take minutes, hours or longer to sync a crypto asset depending on its age and transaction volume.  PolyCash is a virtualization layer for the blockchain and PolyCash currencies inherit all the properties of Bitcoin like its cryptographic security & physical decentralization. PolyCash extends the blockchain to enable binary options functionality which means that you can use this platform to build fully decentralized prediction markets for betting on sports or anything else. PolyCash also allows you to create, hold and transfer contracts pegged to the value of ETH, BTC, stocks or anything else. PolyCash is a robot-friendly protocol and the PolyCash wallet app includes features which make it easy to set up an automated strategy to place bets or buy & sell assets for you in real time. PolyCash is a competitor to Ethereum’s ERC-20 token issuance protocol and is ideal for representing ownership of intellectual property, companies, financial assets, commodities & more. PolyCash is fully open source and leaves currency issuers and users responsible for ensuring legal compliance wherever they do business. We believe that cryptocurrencies backed by dollars, bitcoins and other tangible sources of value are the future, and PolyCash makes it easy to back your currency with these value sources. In backed currencies, you can cash out at any time by destroying your coins in the correct way. The PolyCash app is in great shape and we’ve already launched several crypto assets which are running smoothly in the real world. So far, we’ve launched testnet currencies for betting on eSports & cryptocurrency prices. Now we are seeking business partners to help us launch one or more dollar backed currencies for betting on sports and/or eSports. We are looking for several investors who would each create a betting hedge fund and would write an algorithm which would contribute to setting the odds by placing bets 24/7. Normal sports bettors will also be free to buy in, place bets, and withdraw at any time. We are building a business using this technology, but we are also building a community around this technology unrelated to the business. The best way to get a better understanding of this project is to claim some free coins and then try betting on crypto prices in our Crypto Duels game. You can try out Crypto Duels by signing up for a web wallet or by downloading & installing PolyCash on your own computer. To claim free duelcoins from our faucet, you will need to visit https://poly.cash. You can also learn more by reading our blog, whitepaper or our source code. |
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Crypto Duels: bet on crypto prices Crypto Duels is a betting game for the duelcoin currency. Sign up today and receive 5,000 duelcoins for free. Then grow your balance by betting on head to head matchups between competing cryptocurrencies. Duels last 2.5 hours each and 5 duels are running at any time, with one duel ending every 30 minutes. Whichever currency goes up in price the most wins, as determined by price data from Poloniex. Crypto Duels uses in-play betting which means you can bet while the event is taking place. Crypto Duels is built on PolyCash, an open source platform for P2P currencies and betting. If you want, you can install PolyCash and play Crypto Duels from your own computer rather than playing through the PolyCash website. PolyCash is launching a blockchain for games like Crypto Duels and early adopters will be rewarded just for participating. To start betting, please claim your 5,000 free duelcoins by visiting https://poly.cash/crypto-duels/Please post any questions or comments in this thread. |
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PolyCash is an open source app for peer to peer currencies and betting. For more information, please read our whitepaper or visit our website or our blog. In PolyCash games, players contribute dollars, bitcoins, ether or other currencies to escrow. Once the game starts, the in-game currency inflates rapidly and players compete to win coins by betting on events. When the game finishes, the money in escrow is divided up and given back to the players based on their final in-game balances. We have been working on this project since 2015 and are proud to announce that we are finally ready to start running games for real money. But we don’t expect you to put your bitcoins into something that you don’t fully understand. To get this project started, we have created a promotional currency called “stakes.” Right now, we are giving out 1000 stakes every week to everyone who signs up. That’s right, you can start receiving 1000 stakes every week just for signing up. You’re probably wondering: are stakes worth anything? Currently stakes are not listed on any exchange and there’s no exchange rate for converting stakes to bitcoins. But we do plan to launch a valuable currency someday based on this technology, and when we do that, your stakes will convert to that currency at some exchange rate. You may not receive too much money when that happens though. Keep in mind that we can’t give away too much equity in this project for free without taking away value from our paying investors. Please use your stakes to gain understanding and to test out this project rather than hoarding them for their value. PolyCash is a robot friendly protocol. That means that you can either: • Log in occasionally and bet manually on your favorite teams. • Connect your coins to an algorithm which will automatically bet for you every day. If you hold your coins and don’t bet at all, you’ll lose out in the long run due to inflation. We’ve found that requiring players to log in and bet is too much to ask. Therefore, during these promotional games, we may automatically assign you an algorithmic strategy which will automatically bet for you a couple of times a day. You’ll receive an email every day showing how many bets you won, how many you lost, and your net performance for the day. You can log in at any time and change to another strategy. Better yet, write your own betting algorithm and allow other players to use it or keep it for yourself. Since promotional stakes may have value someday, we ask that you please only create a single user account. If we find that you’ve been creating multiple accounts, we may delete any duplicate accounts and destroy the associated coins for the sake of fairness. So that we can contact you and to prevent duplicate accounts, please enter an email address when signing up. Please share your questions and comments below in this thread. To get started, please visit https://poly.cash, join one of our weekly eSports games, and start betting. Or check out our source code on GitHub.  A screenshot of the PolyCash betting interface. Join today & receive 10,000 betcoins (1000 stakes). |
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PolyCash makes it simple to create new altcoins by GUI. PolyCash is a feature-rich protocol, and polycash-protocol crypto assets can be created with advanced functionality. PolyCash-protocol coins can be pegged to other cryptocurrencies, and even to fiat currencies like the dollar (similar to Tether). By creating an altcoin with gamified inflation, you can create distributed prediction markets and betting games. This is an open source web app built using MySQL and PHP. We've put in a lot of effort to make it painless to install this app. But this is still an early stage project; for now, you'll still need to install Apache, MySQL and PHP before you can run this app. But you don't need to install the app to experiment with this project; you can simply sign up for a web wallet on one of our nodes or on another node that you trust with your private keys. PolyCash assets are implemented as "colored coins" aka "second layer tokens". PolyCash is compatible with Bitcoin, Litecoin and any other blockchain which uses the Bitcoin RPC calls. You can use PolyCash to represent ownership of commodities or even your company by issuing a token on the Litecoin or Bitcoin network. In PolyCash asset with gamified inflation, users need to stake their coins occasionally in order to get their fair share of the currency's inflation. This means that after purchasing your coins, there are a few different user experiences. Traders who are heavily involved in these games can share their staking strategies or staking decisions with other players. You can either: 1. Make your staking decisions manually - Log in frequently, examine the current events and staking options and manually stake your coins. 2. Use an automated staking strategy or outsource your staking decisions. - Log in once, research the various traders & staking scripts and choose your staking strategy. - Log in once in a while to check your performance. Switch to another trader or staking strategy if you're not pleased with your current strategy. PolyCash is a platform with a large number currencies. We're working to develop a single unified currency by creating a custom blockchain which will enable certain features that are not possible on blockchains like Litecoin and Bitcoin. You can pre buy stakes in the custom currency right now by donating Bitcoins. Once our pre-ICO is complete, ownership in the custom currency ("stakes") will be granted to everyone who donated, in proportion to the amounts of their donations. But right now, we need your interest and participation more than we need your money. Please visit our website and sign up for a user account to receive free coins and to try out the platform. We have several betting games running right now that will allow you to understand the PolyCash platform. For more technically savvy users, please try installing the PolyCash app. Link to websitehttps://poly.cash/Link to source codehttps://github.com/polycash/polycash
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PolyCash is a an open source blockchain project which makes it easy to create altcoins and other crypto assets without writing code. To create a new coin, simply use the PolyCash GUI to select a blockchain such as Bitcoin or Litecoin, enter parameters defining the behavior of your coin and then launch your new coin. PolyCash coins are second layer tokens - the PolyCash protocol is therefore a competitor to the ERC-20 standard. PolyCash also makes it easy to create physical scratch off cards which can integrate with your website. Handing out scratch off cards is a great way to give your customers access to your services in a secure and user-friendly way. We are building a custom blockchain which will enable advanced functionality for PolyCash tokens. More information about our ICO will be posted soon. Right now, we need users to test out our platform. You can test out PolyCash by signing up for free and playing some of our games via https://poly.cashAutomated staking is allowed in PolyCash games. Once this platform is launched, players in PolyCash games will sign up, research various traders and then assign their staking decision to the trader of their choice. Then, players can simply log in once in a while to check on the value of their portfolio and switch to a different trader if they're not happy with the performance of their current trader. Any one can become a trader simply by setting up an API which will post their trading decisions to their followers. Right now we need people to try installing the PolyCash software. PolyCash is an open source web app; we've tried to make installation as easy as possible, but you'll still need to install MySQL and PHP to install PolyCash. To install this app yourself, please visit our Github page: https://github.com/polycash/polycashPlease post any questions in this thread. We expect PolyCash to become one of the top 10 cryptocurrencies by market cap, but we need your help to get this project launched. To get started, please check out our home page: https://poly.cash |
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StakeMoney has launched a new inflation game where you can bet on the performance of top cryptocurrencies every 8 hours. Join now & receive 50 battlecoins for free: https://stakemoney.com/After signing up, please post questions in this thread & I will be happy to provide more info about how it all works. |
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I've been working on a concept which could have the following benefits over pure proof of work.
- Reduce the amount of energy spent on proof of work, while still using proof of work to secure the blockchain.
- Resolve the risk that fees will not be enough to maintain a secure level of mining as block rewards decrease.
The idea is that miners still get proof of work rewards for mining blocks, but additionally, coins are minted based on the number of coin days destroyed or "coin blocks destroyed" in a block. This would effectively reduce the energy expenditure on proof of work since proof of work rewards are reduced in comparison to the market cap of the coin. For example, imagine a coin with the same inflation schedule as Bitcoin, but with an additional 3x of coins being given out for "proof of activity" based on the transactions in each block. So in this example, the currency would initially be inflating at a rate of 50 coins for POW + 150 coins by proof of activity for a total of 200 coins per block.
Nodes would need to track all UTXOs and the block where each UTXO was created (confirmed). Then the proof of activity reward in each block (150 coins per block in this example) would be divided up and paid out to addresses in proportion to the amount of coin blocks destroyed in each transaction.
Variations of this could implement linear or exponential inflation. But exponential inflation is not so bad if the coins in your wallet are also increasing exponentially just by occasionally making a transaction.
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EmpireCoin is a colored coin blockchain game built on the CoinBlock platform & running on the Litecoin blockchain. This game marks the launch on the CoinBlock colored coin gaming platform. We are targeting 50 players for this game, therefore each bitcointalk forum member is invited to buy in for up to 0.1 BTC. Once the target of 5 BTC is reached, the genesis transaction will be published on the Litecoin blockchain, creating 5000 empirecoins. From this 5000 empirecoins, 100 empirecoins will be sent to the litecoin address of each of the 50 members who bought into the game. At this point, the game will commence and players will begin casting their votes & winning new empirecoins. Players can vote after every 10 litecoin blocks by moving empirecoins between their litecoin addresses. After 450 rounds (4500 litecoin blocks or approximately 7 days), the game will end. By this time, the supply of empirecoins will have increased from 5000 empirecoins to approximately 440,000 empirecoins due to the winnings being paid out to the players. At this point, the bitcoins raised will be used to buy back empirecoins from the players. Expenditure of funds1 BTC - Converted to Litecoins which are colored in the genesis transaction and then sent to players 4 BTC - Held in escrow until the game is over and then used to buy back empirecoins from the players. Game Rules1. One event is concluded every 10 litecoin blocks. 2. Players may vote for the following empires in each event: China, USA, India, Brazil, Indonesia, Japan, Russia, Germany 3. The non-disqualified empire with the greatest number of votes, wins. 4. In case of a tie, the empire with the lowest ID number wins. 5. Any empire with greater than 30% of the votes is disqualified from winning the event. 6. Votes are defined as "coin rounds" times the vote effectiveness factor of the block that the transaction is confirmed in. Defining votes as "coin rounds" means that at the end of each round, players are credited for 1 vote for each empirecoin that they possess. 7. Vote effectiveness decreases linearly through the round. For example, votes confirmed in the first block of the round count for 100%, votes confirmed in the 2nd block count for 88.88%, votes confirmed in the 9th block count for 11.11% and votes confirmed in the final (10th) block of the round do not count at all. How to PlayThis game is designed to encourage users to set automated voting strategies. Players can write scripts which codify their voting strategy, rather than manually voting each time. Cooperating with other players is also a good strategy based on the rules of this game. Therefore the hope is that "voting pools" form in which different groups of players collaborate and vote together against competing groups. For more information on this concept, please read the CoinBlock whitepaper, visit CoinBlock.org, read our CoinBlock thread or check out CoinBlock on github. To buy in, please send me a PM with your litecoin address and I will send you a bitcoin address where you can send your 0.1 BTC. There is also an EmpireCoin Testnet game running, I can send a few testnet empirecoins to your litecoin address for free so that you can try it out without risking any money. -Joey Rich Founder, CoinBlock |
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CoinBlock is an open source blockchain platform which allows anyone to create and trade crypto assets (colored coins). CoinBlock colored coins run on top of another blockchain & therefore new coins are not generated by mining. Instead, coins are created based on the result of voting events conducted on the blockchain. CoinBlock assets are defined with an inflation rule & event resolution rule which determine exactly how events are resolved and how many coins are generated and given to the winners. Currently the inflation rules supported are: Zero inflation - Good for representing ownership of real world assets & for shareholder voting. Linear inflation - Good for prediction markets & strategy games Exponential inflation - Good for prediction markets & strategy games You can get started on CoinBlock either by signing up for a web wallet account via CoinBlock.org (easy) or by installing the CoinBlock app on your own computer (more secure / decentralized). To install CoinBlock, first install any proof of work blockchain such as Bitcoin or Litecoin. CoinBlock requires you to run a full node, so please remember to set txindex=1 in your coin.conf. Then install the CoinBlock web app and sync it with your blockchain. After setting up your node, import game definitions for the assets that you wish to use. To create your own colored coin, create a game definition using the CoinBlock GUI & then share this definition with others. Some CoinBlock games are entirely decentralized whereas others require some centralization. In strategy games such as Mock Election 2016, some centralization is employed in the form of an escrow address. Players can buy in by sending bitcoins/litecoins to the escrow address, and can sell out by sending colored coins to the escrow address. For more information, please read the CoinBlock whitepaper, visit CoinBlock.org or check out the CoinBlock web app on github. |
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