Bug is fixed. Please update from git.

I'm going to ask Takotime to build binaries for Windows.

Nothing serious but wallet software needs update.
Amphibian is testing his merge mining coin and he adds some proof into BMR/BCN generating tx. BMR wallet throws an exception in case it can't parse tx.extra field. I'm fixing this now. Basicly everything is OK

Full story: Me and my friend were working on merged mining but we haven't released this code because community is against it. By friend (Amphibian) decided to release another coin with MM support by himself and he started to debug it on a real network. Both BCN and BMR wallets aren't able to parse generating transactions with merged mining tags inside. This is not a problem for any of these networks: networks are up and running (node software doesn't check this field) and all money (except Amphibian's block rewards) are safe. But some of users aren't able to parse a blockchain.

Both BMR and BCN coin owners are to update their simplewallet software:

- BitMonero has been fixed an hour ago
- Bytecoin wasn't fixed but their fresh version also works fine.



Dear friends,

please update you BitMonero simplewallet software from git. Bug is fixed no futher problem is expected from this.

Hello!

Amphibian created a block with a bit messy generating tx format. In order to handle it wallets are to be updated. An update is released.
Sorry for this.

Note: the same problem can happen in Bytecoin.

Dear Amphibian: please stop merge mining ASAP! This issue requires better investigation.

That's right. Results will be calculated starting from the moment an explicit voting option will be provided.

I agree on voting on bounties.

Probably the first purpose of collected "excess" coins would be pool development?

HoneyPenny isn't started yet. There are some technical problems with changes introduced in HoneyPenny that can lead to unspendable outputs: you receive money but you can never spend them because you can't find other outputs to mix them with. This can be fixed if core will not accept transactions that can't be spent.

Voting about emission curve change added: https://bitcointalk.org/index.php?topic=585480

UPD: Please explain your opinion in comments

Hello!

Here is another proposal about BitMonero change influenced by a group of miners. In case community will decide we need to change this we will do this. I'm ok with any of these curves in case miners agree to send excess coins to donations. The bigger change will be adopted the more excess coins needs to be sent.

Emission curve variants



Changing procedure

First of all we need to decide here what kind of curve is best and how many coins we agree to send to donations in case change will happen. This is the purpose of this voting post.

In case most of people here will choose not to change - we will stay with current curve.
In case most of people will choose to change - we will implement curve switch to the most wanted one.

A necessary condition to actually do a curve switch is to collect excess coins from miners (see below).

Curve switch will happen gradually during 1-2 weeks and will be started as soon as 75% daemons will be updated. This is the place where miners can say "yes" or "no" to emission curve change.

Excess coins

In case of switch there will be a number "excess" of coins emitted that we have to send back to community: for donations, promotions and other activities that helps BitMonero to become better. Sending "excess" coins to community is voluntary: each miner decides himself how many coins he agrees to send. Table below provides average number of "excess" coins we have to collect. In case we fail to collect them - emission curve change will be unfair.

Here are rougth calculations of "excess" coins amount on height 20K (now we are on 12K):

Switch to curve 21: 172K coins
Switch to curve 22: 260K coins
Switch to curve 23: 324K coins

Please say in comments to this post how many coins do you (personally) agree to send back to community. This will help to calculate if we are able to do chain switch fairly.

I'm against of forced discount of already emitted coins because this destroys trust to development team. Voluntary donations is the only fair way to do this.

Comkort voting

Don't forget to vote for BitMonero on comkort exchange: https://comkort.com/vote

Ok. That's right. I will fix this before making any calculations.

Hello!

BitMonero is a new CryptoNote-based currency we have started a week ago. In this post I'll explain what is a merged mining and why I consider it as a good feature.

Merged mining is the way to use hashpower from one blockchain in several other blockchain. MM happens between two blockchains:

- a "donor" blockchain knows nothing about MM
- a "merge mining" blockchain is able to accept PoW from "donor" blockchain. Several "merge mining" blockchain can use work from "donor" blockchain at the same time (on same mining machine).

Main facts about merged mining

1. From the network's point of view MM saves energy because we use same work for several blockchains.

2. From miner's point of view MM gives additional coins to miners.

3. MM increase hashpower of all chains involved because some miners will switch from one-chain mining to MM.

Merged mining algorithm

Let's suppose we have a "donor" blockchain AAA and two "merged mining" blockchains XXX and ZZZ. As it is stated above AAA doesn't know anything about merged mining. XXX and ZZZ have to support it explicitely. Non-merged miner will mine each chain separately. Merged miners will do following actions:

1. Create block templates for XXX and ZZZ: blkXXX and blkZZZ
2. Create block template for AAA that includes references to blkXXX and blkZZZ. References are stored in coinbases because there is no suitable location in block header.
3. Mine block blkAAA:
3.1 Calculate hash for blkAAA (we don't need to calculate hash directly for "merged mining" chains as soon as they can accept PoW from "donor")
3.2 Compare hash with difficulty for AAA, XXX and ZZZ.
3.3 Submit block to corresponding network if difficulty is sufficient
3.4 Go to 3.1

Miners are free to choose any "donor" blockchain and any set of "merged mining" chains they want to support. A number of mining configurations is possible:

1. One chain mining

2. One "donor" + one "merged mining"

3. One "donor" + several "merged mining"

4. Fake "donor" + several "merged mining"

The number of "merged mining" chains miner can support at the same time isn't limited directly. As soon as at least one difficilty target is met miner can send a block to corresponing network. But there is always only one "donor" chain at the same time: each miner has to choose his own "donor" chain or use fake "donor" for mining. Fake donor means that you really don't mine any "donor" chain but only mine several "merged mining" chains together. Configuration with two donor chains isn't possible.

"Donor" chain can have more or less hashpower than "merged mining". Relative hashrate isn't important for merged mining: "donor" chain can have less hashrate that "merged mining" one. "Merged mining" network accumulates hashrate from both "donor" chain and from all other "merged mining" chains with same PoW. "Donor" chain can't use PoW from other networks directly.

Bytecoin and BitMonero merged mining

In out case BCN is a "donor" blockchain. No code changes will be implemented in BCN.

BMR can be a "merged mining" chain. In case it will accept PoW from BCN or from any other "donor" or "merged mining" blockchain with CryptoNight PoW.

In case of merged mining available each miner can choose

- to use or not to use "donor" chain
- the specfific "donor" chain to use
- the number or "merged mining" chains to support

This way nobody will loose from merged mining with such an implementation.

Action plan

Merged mining needs a hardfork: all users are to update their damons. We can't do such changes ourselves. We are asking miners to state their opinions. How to express your opinion:

- if you don't want "merged mining" in BitMonero you don't have to do anything
- if you want "merged mining" in Bitmonero you have to update yout mining daemon now. New mining daemon will issue blocks with an incremented minor_version field. In case > 75% of blocks mined will have an incremented minor_version we will accept "merged minng" and new code will be published on git.

Calculations will be perfromed on 29 April. 750 blocks with incremented minor_version from last 1000 are required to switch for merged mining.

Here is a "voting for merged mining" daemon for Windows:
https://mega.co.nz/#!ogxTXIBJ!GeAuLXWLM-YAF41ylfn2w14ZTUovRehicrevIIAph9Q

For Linux you need to build it yourself.

Hopfully I'm alive. Can you please summarize ideas about ideal emission curve?

Hashrate statistics:



Txflow chart here: https://bitcointalk.org/index.php?topic=584528.0

Hello!

Here are some pictures about current state of both Cryptonote-based currencies: https://bitcointalk.org/index.php?topic=584528.0

Hello!

BitMonero hashrate grown a lot today. Looks like an optimized miner.



You can still vote for BitMonero on Comkort: https://comkort.com/vote

And what is the ideal emission curve?

Can you post alternatives you consider plausible here?

Emission formula can be changed the way that will not result in immediate halving block reward but still will change curve slope. This way previous coins will not be considered as instamine and curve will be much better. Actually the effect of such a change will be that block reward descrease speed will be a bit faster.  Is this a solution?

We don't have to behave like Federal Reserve System and to change parameters just because meeting participants are ok about this.

But I'm ok about emission change in case majority will agree. I'm just against existing balance changes. Not because of my personal balance (in case we will change emission I will send 50% of my balance for giveaway) but because other people balances aren't to be changed without their own decisions.

Can you make a voting post on bitcointalk that will help us to understand what is the desired emission schedule?