Today we propose Investor Public Mining to the community.IPM defines a fair way of balancing the interests of miners, investors, developers, and users. If you are an investor, miner or otherwise interested in crypto currency and Bitmark, please take the time to read the document. Subject to the communities approval we will implement the IPM pool over the following days. Feedback and discussion is encouraged, please ask any questions you may have so that we can clarify the document. Question...who controls the IPM and the Bitmark Foundation? I like the idea of guaranteed hash power on the network, but ultimately its still centrally controlled, presumably by you. Not to say that you will be a bad actor because Bitmark stands to gain a lot more if you are good, but who is to say somebody else in the future does not gain access to the IPM? As the community grows so should the IPM and the Bitmark foundation. Eventually I would expect control of them to expand as well to include more than just you. Especially considering 5% of funds from the IPM go to the foundation, there is constant monetary support for the foundation to grow. I think the structure of how the foundation and IPM operates, as well as who controls it should be very transparent. |
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I have ~.13 CLAM in an address with 8 inputs. The most recent input has ~1000 confirmations.
Can anyone explain to me why these aren't staking? Mainly curious. Are the TXOUTs too small to stake for some reason?
There is a minimum balance for staking on some coins, I don't know about Clams. But is your wallet encrypted? Staking won't occur if it has a password. |
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Thanks for the topic. I had no idea such things are taking place and I feel somewhat pleased with the fact that repressed customers can strike back.
You're welcome. I just hope that these things actually accomplish something. (like BFL forced to refund everyone, or justice being served) Unfortunately, BFL has quietly managed to get themselves into the background again. ASIC companies are everywhere now, and for most people BFL is just an ugly chapter in the history of Bitcoin, nothing more. I think anger/outrage/frustration towards BFL is decreasing simply because their customer base is decreasing. Without a renewal of fresh complaints they will probably get away with it all. If they couldn't find enough to put Sonny back in jail today, they probably won't ever. |
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Just a repost of Evan's. There is so much crap in this thread its hard to find whats important Over the past couple of days, I've made huge leaps in the Darksend technology. In fact, RC4 will be the final solution to Darkcoin's anonymity. The client will automatically look at all of your funds and it will be able to tell which funds are not anonymized, if it finds non-anonymous outputs it will run them through a darksend with other clients. After that process, users can send without Darksend using the anonymous outputs for instant transactions without waiting for other nodes (with no upper limit on transaction sizes).
The other thing you're missing is that there is a reason I forked Bitcoin. Adoption for Darkcoin will be MUCH faster and easier for vendors, because all of the APIs are the same.
Expect more news in a few days. I have lots of work to do, but soon we can start testing all of this new functionality.
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Why did it have to be 20%? That just feels excessive. People will run masternodes for less
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What sort of hash estimations are we looking at here? I'd imagine not very much at this point.
Anyone have any guesses as to what the network hashrate will look like?
Don't know but I was considering renting hash, in which case I need a pool  |
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So instead of buying hash anyone who wants to contribute to the project should put that money towards the foundation's IPM fund right?
I would say could instead of should. If putting money towards the IPM, then 95% of the coins you would generate will be sent to you, with 5% for the foundation. Or you can mine yourself, and if you like donate any percentage to the foundation. Until we have documented or created a way to keep track of things for the IPM, it may be better to just mine yourself, and donate to the Bitmark Foundation BTM address if you like. There is no rush, and the first bitmarks mined cannot be sent until 720 blocks later, roughly one day. The genesis block has been found, with a timestamp of 18:00:41, and the message "13/July/2014, with memory of the past, we look to the future."
Everything is ready for launch, with some hours spare.
Will there be pools setup at launch? |
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A new coin minus greed = satoshis original plan. Good work and the best of luck
Thank you. What stops major hash power from mining at low difficulty, then jumping off when it goes up? Nothing except that they have to wait 720 confirms to get their coins. But when they do that the difficulty goes back down in a day. They mine another coin for that time and when bitmark difficulty drops they hit it again. Accumulating low difficulty coins would be fairly simple, just tedious because they need to switch the miners every difficulty spike.
It might just be unavoidable no matter what it is done. But I'd hope that any of that happening has little to no effect on the long term health of Bitmark. That is my thinking also, we can try to limit the risks of particular actions, but we cannot stop or prevent them. Somebody may add and remove 1GH, dump 10k bitmarks, permanently add 1GH, buy 10k bitmarks.. The more we focus on natural growth in every aspect the project, the harder each of these actions will be. If there are any additional steps we can take, let us discuss them as a community and see if they work. I feel most solutions are to these potential problems are social. For now, nobody can mine or dump. Soon people can mine but have no where to dump, later there may be some value, and some dumping may happen. We can frame any future dumping as distribution, and early adopters taking some reward. Only if we are successful in earning value. I hope those that add a small amount to the project over a long period of time will be rewarded most. Miners included. I think shortly after launch an exchange will add the coin. Smaller exchanges stand to gain a lot by adding new coins because it creates an influx of new users, who may stick around to trade other coins. Has anybody considered a time based rewards system, where your reward is based on the amount of time you spend mining? Rewards are capped at 24 hours/7 days. So all miners who mine 24/7 receive the same reward regardless of hash rate. The problem I see here, is there are no incentives for larger hashrates to join the network, which potentially hurts security. |
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What happens exactly, someone targets a large amount of hashrate at the coin which solves blocks at a much faster rate than the target? And then it goes until the difficulty adjusts, in this case one day?
If this happens, blocks are mined faster until the difficulty increases, if the hashing power is then removed the chain runs slower for a while until another 720 blocks have passed. If the hashing power isn't removed then the chain is just getting stronger. However, Bitmark is setup so that non of the coins minted are mature until 720 blocks later, after the difficulty has changed again, so somebody who did this wouldn't get the coins for quite some time. More importantly, the coins and chain has no value, it doesn't matter if it runs slow for a while, nobody has any need to be transferring valueless coins unless they are testing the code. There is no exchange, and even when there is nobody can mine coins today and dump them today, they have to wait another day yet before they can be spent, then wait for them to transfer. If they "rape" the coin, it could be two days before they get the coins to spend, by which time the price could have dropped considerably due to their own actions. Thus we try to avoid this, and by the time it is of a concern and Bitmarks have any value, we should have a reasonable network hash rate and stable chain such that impact from a multipool or private entity with lots of hash power is mitigated. I don't really see how this prevents miners from dumping their coins at the onset. What stops major hash power from mining at low difficulty, then jumping off when it goes up? Nothing except that they have to wait 720 confirms to get their coins. But when they do that the difficulty goes back down in a day. They mine another coin for that time and when bitmark difficulty drops they hit it again. Accumulating low difficulty coins would be fairly simple, just tedious because they need to switch the miners every difficulty spike. Especially considering the chosen PoW is scrypt. There will be some big hash numbers out there now that scrypt asic companies are delivering regularly. Its just a matter of waiting for a place/time to sell the coins. |
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Ha ha, Vircurex offered and offers interest. Then they promptly Lost All the Coins (TM).
If a firm is offering interest it means they are probably using your coins for something else while you hold them there. I would be cautious.
Good Luck!
Depends on the business they are in. If its a normal exchange then they might want to get more trades with it when this exchange is similar to another. In case of playtin they want users to have coins deposited because they hope that it leads to some of them playing in the casino... This is what I was getting at. If an exchange offers interest on your coins there is more incentive for you to keep them there and trade. The exchange makes out on the trade fees, much like a casino would make money on user's gambling. |
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I'm not sure about all PoS coins, but with PPCoin (for example) you have to leave the wallet unencrypted to stake the coins...so...probably not best security practice for the exchange.
But I'm no expert on all the stake coins, so maybe some of them can securely stake?
This is the biggest concern I had with POS coins. An exchange would need to have strong enough security to prevent a breach all together, otherwise all coins are lost. But what about Masternodes in darksend?. If an exchange has 1000 drk sitting in cold storage for user funds they could run a masternode. Also does anybody know why POS requires a wallet to be unlocked? I've never seen a coin that stakes with encrypted wallets. |
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Any news about the audit?
After all the anonymity enchantments are released as part of RC4. No real reason to review code that is still being aggressively developed. RC4 is due at the end of this month. +1 No point in auditing something that changes so often. At this point its still a matter of, do you trust the dev team or not? |
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With all the new alt coins being traded these days I started wondering about why no exchange has offered "interest" payments for leaving certain coins on their site.
Many new coins are Proof-of-Stake, or like Darkcoin have a way for large wallets to earn via the masternode system. It seems to me if an exchange offered its earnings on such accounts back to its customers, they could secure a significant portion of the market volume.
I know its never good to leave coin on an exchange, but even small account balances would earn. The exchange still gets its money via trade fees, its just that now the trader has an opportunity to make some if it back through interest.
Anybody else have ideas on this?
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I've just looked into few of these shop accepting potcoin and wtf is that m.o.m. website, isn't it illegal to ship marijuana by mail?
In the US, yes... not in British Columbia. AGAIN... US laws don't apply to the whole world, and cryptocurrencies were designed to be global.-Fuse I thought it's an US site, but do you think they acutally aren't scammers? So is it really legal to ship MJ in British Columbia? I should move there then  And i know they were designed to be global, as i'm writing again i thought that bussniess is from US. Too many people are caught up in legality. Technically speaking marijuana is still illegal in Colorado and Washington states. And not only that the U.S. federal government's official stance is that marijuana is a schedule 1 drug, and has no medical benefits. http://www.safeaccessnow.org/federal_marijuana_lawThere is no such thing as medical marijuana as far as the federal government is concerned, its all illegal. Yet 22 states (plus DC) sell it anyways. Its a gray area right now in the US, but the fact is that it will be legal soon, and in a number of other places too. The "legality" argument for vendors accepting potcoin is nitpicking. This is a coin for marijuana, an industry that is still illegal in most of the world. We all know what that means. As a customer, you know and understand the risks when you pay with potcoin. |
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Fuse, take a valium, Cannabis is illegal everywhere... even Canada because Canada signed the opium treaty like everyone else.
Viceroy... you're 100% incorrect again. There are a number of countries that in one form or another have legalized marijuana cultivation/use/sales. A simple Google search would have proven that to you. I'm done with your shit though. Hitting the ignore button. You're a troll. A delusional one at that. Hey, Viceroy... suck a dick. -Fuse Its liberating to hit that ignore button isn't it  |
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Ok, so let's talk about the coin (which was invented in America by the way)...
Can we get a clear list of retailers who are using the coin? How's that dispensary making out?
Is there a website that is monitoring retailer adoption?
(Can we see the change in retail establishments accepting the coin over time?)
bump As for the dispensary, things are steady. They still accept Potcoin at a 10% discount. The devs are touring for the summer, having just completed the Cannabis Cup event. I would expect more partnership announcements going into the fall. As always, my advice to you is the same, be patient and stop trolling. |
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I'm still wondering these problems that are related to coinjoin in general. There are 2 main problems: If there is not any other transaction to join, there won't be any nitesend/coinjoin transaction. The other problem is that when generating the joined transaction, someone who peeks and logs *all* transaction offers 24/8 would find out some information about coin owners.
But there are solutions to fix these. One idea to fix the first would be 'spontaneous nitesend mixer'. The basic idea is to allow wallets to collectively mix their coins to a brand new, first time used coins. This mixing transaction could happen either on predefined time or after wallets collectively find enought participants. In practise that would mean: you check the 'mix my wallet' checkbox. Wallet broadcasts a mixing request and counts all received requests. When a treshold has been reached, all wallets send one transaction with random sized newly generated output coins. This could be repeated just as often as wanted.
What about block chain bloat? Implementing this solution in a way that isn't easy to trace will require a lot of "mixing" transactions. It will take time for those transactions to confirm, slowing the overall nitesend transaction time and adding extra "bloat" to the block chain.
Another idea to prevent peeking the nitesend transactions would be using crypted communication. In this case, we could use for example hyperboria (cjdns) technology; combined with sync, that would mean all sync coins would have an own ipv6 address and an encrypted communication link! Nitesend transaction could be collected by sending the offers throught these kind of links, securing them from all peekers. Actually, the whole comunication between peers could be done throught private hyperboria network. I guess it would be better than TOR and vpn together.
What do you think? The problem is that these (specially nr 2) need some work to do and I really am not sure if they are worth implementing. Would they add enought anonymity to be worth implementing?
This to me seems ambitious. Not going to say impossible because I don't know much about cjdns, just what it does. I think this could work but it would not be simple. The first question to ask, does this mean each of the smallest fractions of sync (i.e. 1 satoshi) will have an ipv6? Who initially determines the table and how is it verified? In order for it to work if I understand, there is a distributed hash table with all of the stored network addresses, so how do you drop that on the network? |
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why don't you pm the dev or nitesend i'm sure they will give you an answer they always reply to me No these are basic questions that should be answered here for everybody to see. But as usual they choose to ignore them. Why anybody has faith in these guys is beyond me. This dev's involvement in Visacoin was enough to keep most people away. Another strong indicator is how MsCollec is openly looking for more IPO/premine takeover opportunities. I know he's all over the place. People don't seem to care  My questions are more directed to nite because mscollec clearly isn't technical enough to answer my questions. |
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why don't you pm the dev or nitesend i'm sure they will give you an answer they always reply to me No these are basic questions that should be answered here for everybody to see. But as usual they choose to ignore them. Why anybody has faith in these guys is beyond me. |
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