Will the Forkers of Terracoin please introduce themselves?

[crazy_rabbit]

Since people are starting to talk about it, it would be nice to know who is behind the fork.

cheers

[smoothie]

Since people are starting to talk about it, it would be nice to know who is behind the fork.

cheers

Behind a fork is usually someone eating.

[Liquid]

lol

Would be nice to know

[pyra-proxy]

I was always under the impression that the concept and system known as terracoin or the terra (http://en.wikipedia.org/wiki/Terra_(currency)) was older than BTC...  It would seem to me that a bitcoin based chain is a bit shady to begin with considering that fact, and the unknowns about the system.  Although if you want to investigate suspects, based on the verbage going on at their website, I would say it's likely to be a whinger against not in favor of ASIC technology but also someone with already demonstrated capability regarding knowledge of bitcoin... probably someone with some significant GPU mining capabilities which they don't want to loose out on.

With all that said and done, did the chain actually do something to ensure that it couldn't be mined on ASICs? (At least for the time being?)

[Liquid]

http://www.terratrc.org/

"Interlocken, CO, (October 29, 2003)--A new monetary initiative was launched today that will play a significant role in getting the United States, Europe and Japan out of recession.

This internet-based Trade Reference Currency (TRC)™ was announced by renowned finance and currency expert and author Bernard Lietaer, who was one of the key architects of the ECU -- the convergence mechanism that lead to the Euro. The TRC™ is poised to dramatically change barter and counter-trade along with creating, stability and predictability in the financial and business sectors by providing a standard of value for international trade. This will be the first time since the gold-standard days that a robust international standard of value that is inflation-resistant would become available. Most importantly, it will resolve the current conflict between short-term financial interest and long-term sustainability. This mechanism would work in parallel with national currencies. Finally, this proposal would need no new legislation or international agreements to become operational.

“This supra-national complementary currency is uniquely designed, unlike national currencies, to provide a stable international mechanism for contractual and payment purposes worldwide. This mechanism would automatically work to reverse the boom and busts of the business cycle and stabilize the economy by providing more cash during downturns, and cooling off inflationary pressures in the peak of an upturn,” said Mr. Lietaer, addressing the Future of Money Summit.

(www.futureofmoney.com)



Three recent events over the past 30 years have fueled monetary instability globally. The Baker Plan, the uncoupling of the dollar from the gold standard and 24/7 computerize  foreign trading that have brought about no less than 87 monetary crashes in the past quarter century.

“This mechanism has the potential to address such diverse issues as joblessness, developing nations' debt and ever increasing environmental concerns,” he added.

“Many have a wait and see attitude to innovative proposals of this nature, but they shouldn't with the Terra. The TRC™ reduces risk, stabilizes the world economy and is a more cost effective approach for international business,” said Takashi (Tachi) Kiuchi former CEO of Mitsubishi Electric America and Chairman of The Future 500."

[crazy_rabbit]

http://www.terratrc.org/

.......
“Many have a wait and see attitude to innovative proposals of this nature, but they shouldn't with the Terra. The TRC™ reduces risk, stabilizes the world economy and is a more cost effective approach for international business,” said Takashi (Tachi) Kiuchi former CEO of Mitsubishi Electric America and Chairman of The Future 500."

God lord I hope that's not related.

[Liquid]

i dont this it is ....

[crazy_rabbit]

i dont this it is ....

?

[pyra-proxy]

http://www.terratrc.org/

.......
“Many have a wait and see attitude to innovative proposals of this nature, but they shouldn't with the Terra. The TRC™ reduces risk, stabilizes the world economy and is a more cost effective approach for international business,” said Takashi (Tachi) Kiuchi former CEO of Mitsubishi Electric America and Chairman of The Future 500."

God lord I hope that's not related.

i dont this it is ....

No that is a reference to the "original" TRC (aka. Trade reference currency, aka. Terra, aka. Terracoin), NOT the new bitcoin fork.... I just merely pointed it out as it seems a tad shady that the new fork would attempt to usurp the name and is possibly the most fly-by-night of all the alts out there from my limited understanding.  Now regarding the original TRC, I don't think it's all that bad of a maneuver for fiat to consider adopting (In a non-globalized, politically bounded approach it could go a ways toward controlling current out-of-control bureaucratic inflation trends.... if they actually paid attention to the purpose and goal), I'm just a little afeared of a global central fiat.... still like my statist fiat and my global crypto and have full faith that they can happily play along side each other in the future.  Sure a gov could try to manipulate it's currency vs. crypto but given the open market nature of crypto the value would auto-correct itself sans government currency foreplay.

[FuzzyBear]

Definitely sure that it possibly does not have nothing to do with anything and everything related was my interpretation of

"i dont this it is ...."

or maybe a typo for ... "I don't think it is ..."

[crazy_rabbit]

Regardless of who is behind it- it would be easy enough for us to take control over it. Since it's just a fork of Bitcoin anyway, and if we have the higher-hash power of the network, well then it's ours. :-)

Like 51% but from the community perspective.

[pyra-proxy]

Regardless of who is behind it- it would be easy enough for us to take control over it. Since it's just a fork of Bitcoin anyway, and if we have the higher-hash power of the network, well then it's ours. :-)

Like 51% but from the community perspective.

I could get behind this --sort-of-- if some of the original seeming intentions are upheld which is to slow the migration to asic technology, would be highly useful for current BTC fpga/gpu miners but is that really achievable? (FPGA bitcoin equivalent miner which is somehow not compatible with bitcoin asic technology?)  The notion if possible would be a boon to the alt currency world because one could conceivably see alts being mined with asic, gpu and fpga at semi-equally profitable states depending on the primary chain in use (bitcoin for asic, TRC with fpga/gpu)

[crazy_rabbit]

Regardless of who is behind it- it would be easy enough for us to take control over it. Since it's just a fork of Bitcoin anyway, and if we have the higher-hash power of the network, well then it's ours. :-)

Like 51% but from the community perspective.

I could get behind this --sort-of-- if some of the original seeming intentions are upheld which is to slow the migration to asic technology, would be highly useful for current BTC fpga/gpu miners but is that really achievable? (FPGA bitcoin equivalent miner which is somehow not compatible with bitcoin asic technology?)  The notion if possible would be a boon to the alt currency world because one could conceivably see alts being mined with asic, gpu and fpga at semi-equally profitable states depending on the primary chain in use (bitcoin for asic, TRC with fpga/gpu)

Well, I don't really mean to "take it over" outright, at the moment, we don't even really know who the developers are- so I didn't really mean it literally. Just talk.

As for not being ASIC minable- I don't know if that's possible. Anything is ASIC minable. We could tweak it somehow so that current ASIC generations can't mine it, but a tweak that would be easy enough to apply to current FPGA's. Indeed- wouldn't it be interesting to tweak at regular intervals, small changes, nothing that would threaten the integrity of the chain, but that FPGA's could easily update to with firmware, and ASICs wouldn't be able to jump onto?

[Liquid]

Definitely sure that it possibly does not have nothing to do with anything and everything related was my interpretation of

"i dont this it is ...."

or maybe a typo for ... "I don't think it is ..."

Sorry my bad typo

I don't think its related to the Trade Reference Currency, but whats with the same name 

[pyra-proxy]

Well, I don't really mean to "take it over" outright, at the moment, we don't even really know who the developers are- so I didn't really mean it literally. Just talk.

As for not being ASIC minable- I don't know if that's possible. Anything is ASIC minable. We could tweak it somehow so that current ASIC generations can't mine it, but a tweak that would be easy enough to apply to current FPGA's. Indeed- wouldn't it be interesting to tweak at regular intervals, small changes, nothing that would threaten the integrity of the chain, but that FPGA's could easily update to with firmware, and ASICs wouldn't be able to jump onto?

Yes that is an interesting notion, and I would speculate that is a prevention of asic migration due to the economics of cost/reward ... the only asic that could be achieved is a hybrid platform in which the tweaked part is abstracted out into software somehow or abstracted out into fpga hardware/firmware.... however if the tweaked component does not stay constant then even these possibilities would be constricted.

(Back on topic ish) In the end I'm not sure how far this coin alt could make it though given the general community response to how coins should be "fairly" launched.  Seeing how devs and announce dates never happened so usurping the chain might not be seen in a negative light...  would also be a good test bed to test implementations of a merge mineable ledger/ledger hybrid based system to prove that bit coin etc. can all be migrated relatively painlessly in order to deal with looming block chain bloat concerns.....

[Nolo]

Well, I don't really mean to "take it over" outright, at the moment, we don't even really know who the developers are- so I didn't really mean it literally. Just talk.

As for not being ASIC minable- I don't know if that's possible. Anything is ASIC minable. We could tweak it somehow so that current ASIC generations can't mine it, but a tweak that would be easy enough to apply to current FPGA's. Indeed- wouldn't it be interesting to tweak at regular intervals, small changes, nothing that would threaten the integrity of the chain, but that FPGA's could easily update to with firmware, and ASICs wouldn't be able to jump onto?

Yes that is an interesting notion, and I would speculate that is a prevention of asic migration due to the economics of cost/reward ... the only asic that could be achieved is a hybrid platform in which the tweaked part is abstracted out into software somehow or abstracted out into fpga hardware/firmware.... however if the tweaked component does not stay constant then even these possibilities would be constricted.

(Back on topic ish) In the end I'm not sure how far this coin alt could make it though given the general community response to how coins should be "fairly" launched.  Seeing how devs and announce dates never happened so usurping the chain might not be seen in a negative light...  would also be a good test bed to test implementations of a merge mineable ledger/ledger hybrid based system to prove that bit coin etc. can all be migrated relatively painlessly in order to deal with looming block chain bloat concerns.....

I agree that coins should be fairly launched, but even though this one didn't seem to have an official release statement, it was found and posted so early on here, that there couldn't possibly have been much of an opportunity to premine. I don't even think that many blocks have been found at this point, even after several of us have started mining it. 

[FuzzyBear]

Just found this... http://www.bitcoinforum.com/alternative-cryptocurrencies/announcement-terracoin-new-alt-currency/msg1459/

the post seems to talk with a little more authority than others i heard so maybe the original forkers?? but a newbie poster so idk??