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I think we should have a mining pool code of ethics. In order to get the community seal to be a mining pool, you have to agree to the following code.
1. You will never use your hashing power to partake in 51% or other attacks on any chain.
2. If the government or other entity offers you money like $1 million to overtake your network, you must notify the community and refuse, or be the subject to lawsuits. For example, if the fbi decided to give btcguild and deepbit $1 million each to help take down bitcoin, they would have to refuse.
3. The minimum mining fee will be 5% pps or proportional.
The 3rd throws mining pool owners a bone to be honest.
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http://bitcoinmedia.com/luke-dashjr-throws-book-at-solidcoin/I found the above link written by Amir Taaki yesterday. "I examined IxCoin’s sourcecode after unsuccessfully imploring him to drop his losing bet on IxCoin. Quickly it was apparent that the entire thing was unstable and a get rich quick scam. Within 6 years, the system would become unstable and shut down overnight because of technical reasons. IxCoin’s creator also spammed me and the other front-page developers offering us an ‘IxCoin bonus’. I tried to urge Jason to dump his IxCoins but he would not. It became unconciable for me to keep this knowledge secret. I made a forum post titled IxCoin is a SCAM and the value of IxCoins soon plummeted to zero (whether related or not). " From what I understand, in 6 years when the 21,000,000 coin is minted, no new blocks will be minted? Is that true? I think they will be minted, but just with no reward. Hopefully, Nasakioto will add a 1 coin block reward at the end. How do you know the "spammed me" was not just a reach out to give the main developers a bonus for all the work you did on the main client? The only thing ixcoin showed is bounties do not work, almost all the bounty sites went down. From what I see these coins (ioc and ixc) are not scams. The only two with massive pre-mine were gg and tbx, ixc were used in bounties. The price of ixc has never gone to zero.
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All it shows it that merged mining and mining pools are dangerous. The government could infiltate Deepbit and take down bitcoin whenever they want. The larger pools can take down namecoin, ixcoin, iocoin whenever they want.
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Some info on coins. Use at own risk.
I0C - 90 sec per block, retarget every 120 blocks or every 3 hours, 960 a day
Date Block Coins Inflation Reward Coins per day
12/11/11 150639 7230672 233% 48 46080
2/20/12 218799 10500000 80% 24 23040
9/30/12 437339 15750000 27% 12 11520
5/12/13 656859 18375000 11% 6 5760
12/21/13 875399 19687500 5% 3 2880
8/1/14 1093939 20343750 3% 1.5 1440
3/12/15 1312479 20671875 1% 0.75 720
I0C - Current Block Estimate - Actual
1/5/12 174639 177635 3 days early
=====================================================
IXC - 10 minutes per block, retarget every 144 blocks or every day
12/18/11 42360 4066560 124% 96 13824
2/25/15 210120 20171520 13% 48 6912
6/26/15 227544 20996402 0% 0 0
IXC Current Block Estimate - Actual
1/5/12 44952 48929 28 days early
=====================================================
BTC - 10 minute blocks, retarget every 2016 blocks, 2 weeks
1/3/12 160370 8018500 33% 50 7200
12/13/2012 210050 10500000 13% 25 3600
12/13/2016 420434 15750000 4% 12.5 1800
12/13/2020 630818 15960012.5 2% 6.25 900
=====================================================
NMC - 10 minute blocks, retarget every 2016 blocks, 2 weeks
1/3/12 36202 1810100 145% 50 7200
4/24/2015 210010 10500000 13% 25 3600
4/24/2019 420394 15750000 4% 12.5 1800
4/24/2023 630778 15960012.5 2% 6.25 900
=====================================================
LTC - 2.5 minute blocks, retarget every 2016 blocks, 3.5 days
1/3/2012 60679 3033950 346% 50 28800
9/17/2015 840007 42000000 13% 25 14400
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 I had a 1050 coin bounty on there for best ixc graphic website before end of year. Since no graphic was submitted I decide to give it to the ixc best site. ixcoin.org is full of spam so I decided to post here. Winners 1. http://blockexplorer.sytes.net/2. allchains.info 3. http://mmpool.bitparking.com/pool4. https://vircurex.com/Both 1. and 2. are down for ixcoin at the moment. If neither are up by 1/15/02, I will send it to 3. doublec. |
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Just ran it, all i get is scribble.
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I think you could offer parimutual wagering like they do in horse races. For example:
Pool to win Iowa Caucuses. Pool closes in 1 day 3 hrs and 2 seconds.
56 Romney
33 Paul
11 Gingrich
5 Santorum
3 Bachmann
1 Field
Thus you don't have all these head to head match-ups. You could also close the pool every week, and start a new one thus it would be much more interesting. The details that it is going to close in 1 day is not detailed enough, and the idea of time weighting is rather lame too. Yes, people can cancel their bet in the last minute but it really does not happen much. Go to the horse races to see how they do it. For example you could have had 3 Iowa caucus races that closed every Sunday for the last 3 weeks. Otherwise site looks great.
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Bethany McLean - for Exposing Enron and Financial Fraud
Ron Paul - For Being 1st politican wanting to return to honest money
Max Keiser - For being 1st mainstream newsman promoting bitcoin
Thomas Jefferson - For exposing the dangers of bankers
Andrew Jackson - For Ending the Bank
Peter Schiff - For promoting solid money.
But I rather not have a person on it at all.
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Now with ixc ioc nmc and btc merged mined, and Devcoin soon to be merged mined, maybe someone can update the code of geistgeld to be merged mined. If it is possible.
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Nice little pool and lets you merge mine 5 at a time - BTC I0C IXC DVC and NMC. pps like btcguild and no headaches or passwords.
update 1-11-12: size increase from 40 gh/s to 70 gh/s. Devcoin added.
Do not add to this thread, doublec that runs bitparking created a newer thread.
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a) The network should know the fee. Blockexplorer shows the transaction, fee, and size. The fee would charged based on the smallest of the to (amount). So if I send if I have 100,000 coins, I send you 99,999 and I send 1 coin to change address then the fee is 1 * 1% = 0.01 coin? b) 1% fee transactions are very large compared to 0.01 fee transaction which the bitcoin network is eventually going to have to deal with. By making this comment you are saying in the long run bitcoin will never work since the mining fees will be too small in the future. This is nonsense, as owners of large amounts of coins have vested interest to protect the network. 1% of a tiny transaction volume = tiny fees. So the network large enough to avoid 51% attack will be paid from a negligible amount of transaction fees. You seem to forget the subsidy exists for a purpose. It allows the network to be large enough to avoid attack while the transaction volume is too small to support a strong network. Today Bitcoin could have a ~10TH network with no block rewards. Of course it would require a ~7% transaction fee. However it is a catch22. A 7% transaction fee would prevent the transaction volume from growing to ever reduce that fee to a modest sum. The subsidies (which you seem to have blind irrational hatred of) bridge that gap. c) When you buy an item say alpaca socks for 5 btc. The owner is already going to have to pay income tax on that sale. A 2% sale would show up as a familiar sales tax. 5 btc plus tax or 5.10 btc. Or the seller will most likely just say tax included. No reason to comment because it has no relevance. d) Because the currency is not a fiat currency that is stolen at a rate of 10% a year by congress every year so Obama can fly to Hawaii denying 5000 workers of the U.S. the same trip and Gingrich can give a $1.6 million history lesson to Freddie Mac. The tax is not wasted it goes to miners and deflation which should attract more people to the coin. Current owners will advertise for more businesses so the value of their coins go up. Miners will advertise for more business so they can get more mining fees.
Neither is Bitcoin. Also if you think inflation rate is 10% a year in USD well that explains a lot in your failed macro economics. a) So you solved it. Don't change addresses. 1VayNert3x1KzbpzMGt2qdqrAThiRovi8: 36.226 1VayNert3x1KzbpzMGt2qdqrAThiRovi8: 32.226 1FBtYpdAm4YhEFW4Upb3LE2wVRHVMEbZZs: 4 As long as you send it back to address, no fee charged. Fee above would be 0.08 b) The fees will be large and growing. BTC might be $15 by now resulting in 10x the transactions. A CPU algorithm would spread the mining around. Possibly even pool-less share based mining to protect network to prevent it being concentrated. c) You are still going to have to pay 38% income tax even with bitcoin. Those are federal/state/country laws. With a 2% tax, 1% is given back to the public as deflation. d) A definition of inflation is the increase in money supply. All national debt has a dollar behind it. When the postal worker received his check was that real money? There is a reason why M3 closely follows the national debt. Price inflation if you compare the Year over Year change in revenues at Walmart and Exxon-Mobil you come to over 8%. If you subtract out population growth and productivity gains you might have 5% price inflation. However, you must also consider without subtracting those out we could have 5% price deflation. Many economist use a 18 month lag in M1 as a predictor of inflation. The zero month lag in m1 is about 18%, and the 12 month lag is about 8%, and the 18 month lag is about 5%. |
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How much longer are you going to keep suggesting these ideas with no action on them? Go make your own coin and stop flooding the forums with the same ideas...
The worst part is he has never responded to analysis the first dozen times posted. a) how do you have a fee based as a % when the network has no idea the transaction size? b) how do you encourage mining if that mining is a negligibly amount of money? c) what does sales tax have to do w/ a rational on the fee cost? US Income tax is up to 38% so is a 38% fee a good idea too? d) why would anyone want to use a blockchain w/ a 2% fee? Paypal isn't much more. a) The network should know the fee. Blockexplorer shows the transaction, fee, and size. The fee would charged based on the smallest of the to (amount). b) 1% fee transactions are very large compared to 0.01 fee transaction which the bitcoin network is eventually going to have to deal with. By making this comment you are saying in the long run bitcoin will never work since the mining fees will be too small in the future. This is nonsense, as owners of large amounts of coins have vested interest to protect the network. c) When you buy an item say alpaca socks for 5 btc. The owner is already going to have to pay income tax on that sale. A 2% sale would show up as a familiar sales tax. 5 btc plus tax or 5.10 btc. Or the seller will most likely just say tax included. d) Because the currency is not a fiat currency that is stolen at a rate of 10% a year by congress every year so Obama can fly to Hawaii denying 5000 workers of the U.S. the same trip and Gingrich can give a $1.6 million history lesson to Freddie Mac. The tax is not wasted it goes to miners and deflation which should attract more people to the coin. Current owners will advertise for more businesses so the value of their coins go up. Miners will advertise for more business so they can get more mining fees. |
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1) Use the existing bitcoin chain for a new coin. Despite it all bitcoin is the fairest of the chains. Millions of dollars worth of coins have been bought, sold, and used in commerce. One thing solidcoin did do is before the release of SC2 is compress the chain to very small size. It would be nice if this could be automatically be done somehow like on the 1st of the year. It might be good to eliminate all addresses with less than 1 btc.
2) 2% transaction fee. 1% deleted, 1% to miners. Thus a sale of 300 DC would result in 3 DC Being deleted with 3 DC going to miners. The sales tax in California about 9%, and a 2% fee will help the miners and the savers of coin and should not hurt economy. I would really like to test this with a 10% transaction fee with most deleted to see what would happen (possibly moving most transactions to exchanges and wallets).
3) minimum fee 0.01, auto-adjusting There has to be a minimum fee to prevent chain bloat attacks. However it would be nice never to have to worry about deciding this but have it change automatically.
4)1 mining reward. Although mining rewards would end a small block reward would be added to prevent number of coins going to zero. This should be less than 1% annual inflation. Using the existing bitcoin chain will result in about 1% inflation.
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There have been some proposed coins goldcoin, rocketcoin, and deflation coin.
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i0.btcguild.com. Euth, will you be adding ixc and ioc with nmc and btc merged mining?
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I noticed btc-e.com, reopened the ixc exchange, will you do the same?
Will btc-e reopen the i0c exchange?
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Death and Taxes I think you win. But an attacker can take down either network I think if they have unlimited resources like the government. Maybe not SC.
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I believe, the main purpose was to save energy. I will have to look back at the solidcoin thread.
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