[PRE-ANN] HalCoin - XHF - SHA256 pure miners coin - in memory of Hal Finney

[minerpools]

If you're going to do a coin in memory of Hal Finney, at least have the decency of not using coingen...

[1714773601]

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[1714773601]

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[bizzyb]

If you're going to do a coin in memory of Hal Finney, at least have the decency of not using coingen...

We won't be, and not just because its not available, we won't be using any cloning service or software.
As mentioned a few posts back it will be "bespoke", in as much as that is possible when doing a clone of BTC.

[bizzyb]

IMHO dead coin with these specs.. It will get instamined within seconds.

When Bitcoin was released, there was no knowledge about Cryptocurrencies at all and there where no ASIC's so it was feasible but now, almost 6 years later, you urgently need better Re-Adjustment, Block maturity and IMHO also Block Times. 10 minutes is just too long.

If you want a true to original bitcoin release then a monster instamine is right. It will rip off 35000 blocks in first day then get stuck for a very long time thanks to asics.

Yeah but you all know how this goes, the noises uttered / keystrokes typed are simply neurolinguistic programming, dictionaries etc about what utterances mean are mere myths / superstitions of the listeners / readers, the real meaning is the effect it has, which of course is that the shitcoin / scamcoin goes ahead as planned. Noises (or even images or memes) about Satoshi, Hal Finney, Jesus, God, some stupid dog, or whatever are mere means to an end. Nothing you say is likely to make the scammer / bullshitter / neurolinguistic programmer not go ahead with the coin, regardless of what it / she / he has to type, utter, memefy or whatever in order to achieve the launch.

Heaven forbid something actually appropriate to Hal's stature be created in his memory, that might take actual work!

-MarkM-

I'm not sure what you think is in this for us?

We love crypto in general and want to make another fair and legitimate addition to the cryptosphere.
There is no ICO, or premine or hyped rhetoric, just a couple of guys that enjoy this space and enjoy doing this sort of thing.
You've obviously been burnt too many times with poor investment decisions?  Well, we're not looking for investment, just a bit of support to get it off the ground.

[bizzyb]

Technical specs:
Coin name - HalCoin
Abbreviation - XHF
Algo - SHA256
Based on - BitCoin clone
Total number of coins - 21,000,000
Block reward - 50 XHF initally
Block halving - 210,000 blocks (4 years)
Block time - 10 minutes
Difficulty re-adjustment - 168 hours (7 days)
Block maturity - 10 blocks

IMHO dead coin with these specs.. It will get instamined within seconds.

When Bitcoin was released, there was no knowledge about Cryptocurrencies at all and there where no ASIC's so it was feasible but now, almost 6 years later, you urgently need better Re-Adjustment, Block maturity and IMHO also Block Times. 10 minutes is just too long.

Thanks for the input.
I'll chat with Upgradeadvice.
Ideally I don't want to change anything, but if it needs doing to make it viable then we'll do that.

[notsofast]

IMHO dead coin with these specs.. It will get instamined within seconds.

When Bitcoin was released, there was no knowledge about Cryptocurrencies at all and there where no ASIC's so it was feasible but now, almost 6 years later, you urgently need better Re-Adjustment, Block maturity and IMHO also Block Times. 10 minutes is just too long.

If you want a true to original bitcoin release then a monster instamine is right. It will rip off 35000 blocks in first day then get stuck for a very long time thanks to asics.

Yeah but you all know how this goes, the noises uttered / keystrokes typed are simply neurolinguistic programming, dictionaries etc about what utterances mean are mere myths / superstitions of the listeners / readers, the real meaning is the effect it has, which of course is that the shitcoin / scamcoin goes ahead as planned. Noises (or even images or memes) about Satoshi, Hal Finney, Jesus, God, some stupid dog, or whatever are mere means to an end. Nothing you say is likely to make the scammer / bullshitter / neurolinguistic programmer not go ahead with the coin, regardless of what it / she / he has to type, utter, memefy or whatever in order to achieve the launch.

Heaven forbid something actually appropriate to Hal's stature be created in his memory, that might take actual work!

-MarkM-

I'm not sure what you think is in this for us?

We love crypto in general and want to make another fair and legitimate addition to the cryptosphere.
There is no ICO, or premine or hyped rhetoric, just a couple of guys that enjoy this space and enjoy doing this sort of thing.
You've obviously been burnt too many times with poor investment decisions?  Well, we're not looking for investment, just a bit of support to get it off the ground.

It will be interesting to watch what's basically going to amount to one of Satoshi's testnet iterations where he set the difficulty too low and mined tens of thousands of blocks in the first few seconds, then thought, "I need to make this a little more difficult for a reasonable amount of CPU power". That's what ASICs are gonna do to this.

I've seen so many SHA256 coins touting code with little changed from bitcoin. They get instamined due to the slow difficulty adjustment as everyone competes to exploit the early difficulty rise. Then the coin gets left high and dry at high difficulty and literally EVERYONE leaves. The chain stops moving as it's no longer worth it to send hashrate for new coins and if you're not quick to dump your frozen bag on some marketplace it gets stuck in your wallet forever.

Then it takes more free work from someone to "save" the coin. Either from the dev, who must fork a proper diff adjustment, or from some benevolent miners who don't mind losing money nursing the diff back down on their own. But most likely the 1-sat buys dry up on yolobit in a day or so and the coin is dead because people are already looking at something else.

tl;dr

Fairness and legitimacy have no inherent value on their own. They only preserve value that already exists. If you truly want to benefit the cryptosphere, then do some actual work and create something of value. Back it by walking your talk of your fairness and legitimacy. Appropriating Hal Finney's name is only the tiniest shred more legit than stupid NILIcoins' iCOKE and iDISNEY.

[bizzyb]

IMHO dead coin with these specs.. It will get instamined within seconds.

When Bitcoin was released, there was no knowledge about Cryptocurrencies at all and there where no ASIC's so it was feasible but now, almost 6 years later, you urgently need better Re-Adjustment, Block maturity and IMHO also Block Times. 10 minutes is just too long.

If you want a true to original bitcoin release then a monster instamine is right. It will rip off 35000 blocks in first day then get stuck for a very long time thanks to asics.

Yeah but you all know how this goes, the noises uttered / keystrokes typed are simply neurolinguistic programming, dictionaries etc about what utterances mean are mere myths / superstitions of the listeners / readers, the real meaning is the effect it has, which of course is that the shitcoin / scamcoin goes ahead as planned. Noises (or even images or memes) about Satoshi, Hal Finney, Jesus, God, some stupid dog, or whatever are mere means to an end. Nothing you say is likely to make the scammer / bullshitter / neurolinguistic programmer not go ahead with the coin, regardless of what it / she / he has to type, utter, memefy or whatever in order to achieve the launch.

Heaven forbid something actually appropriate to Hal's stature be created in his memory, that might take actual work!

-MarkM-

I'm not sure what you think is in this for us?

We love crypto in general and want to make another fair and legitimate addition to the cryptosphere.
There is no ICO, or premine or hyped rhetoric, just a couple of guys that enjoy this space and enjoy doing this sort of thing.
You've obviously been burnt too many times with poor investment decisions?  Well, we're not looking for investment, just a bit of support to get it off the ground.

It will be interesting to watch what's basically going to amount to one of Satoshi's testnet iterations where he set the difficulty too low and mined tens of thousands of blocks in the first few seconds, then thought, "I need to make this a little more difficult for a reasonable amount of CPU power". That's what ASICs are gonna do to this.

I've seen so many SHA256 coins touting code with little changed from bitcoin. They get instamined due to the slow difficulty adjustment as everyone competes to exploit the early difficulty rise. Then the coin gets left high and dry at high difficulty and literally EVERYONE leaves. The chain stops moving as it's no longer worth it to send hashrate for new coins and if you're not quick to dump your frozen bag on some marketplace it gets stuck in your wallet forever.

Then it takes more free work from someone to "save" the coin. Either from the dev, who must fork a proper diff adjustment, or from some benevolent miners who don't mind losing money nursing the diff back down on their own. But most likely the 1-sat buys dry up on yolobit in a day or so and the coin is dead because people are already looking at something else.

tl;dr

Fairness and legitimacy have no inherent value on their own. They only preserve value that already exists. If you truly want to benefit the cryptosphere, then do some actual work and create something of value. Back it by walking your talk of your fairness and legitimacy. Appropriating Hal Finney's name is only the tiniest shred more legit than stupid NILIcoins' iCOKE and iDISNEY.

Yeah, we might have to look at the initial difficulty, or re-targeting time, good to have input, and part of the "pre-ann" process.

Had I known you would have given us the stratospherical rating in the company of iCoke, I would have started this project months ago

I guess as long as there are coins of the ilk of PayCoin trading at 19000+ (checks cryptsy - ok now 18000+ and maybe falling) then there should be "honest" projects like this that will hopefully attract some of those that may have gone there instead.

Thanks for your input, always respect your opinion, even if it isn't what I want to hear.

[bb2ebb]

If more info is provided about the device and the store then I will mine this.  I won't back a product I feel will break within a few uses.

[bizzyb]

If more info is provided about the device and the store then I will mine this.  I won't back a product I feel will break within a few uses.

I'm not sure what you're asking?

[bizzyb]

We've had a think a little more about the coin specs, whilst still trying to remain respectful of Bitcoins specs.

Perhaps the below could address the issues mentioned?

Happy to discuss to see if anything needs further tweaking.

Technical specs:
Coin name - HalCoin
Abbreviation - XHF
Algo - SHA256
Based on - BitCoin
Total number of coins - 21,000,000
Block reward - 0 (ZERO) XHF initally for first 180 blocks (180 minutes) - fair launch and helps to obtain a sensible difficulty
Block reward - 181st block is a SUPERBLOCK of 905 XHF (HalCoin)
Block reward - Block 182 initiates 5 XHF reward per block
Block halving - 2,100,000 blocks (4 years)
Block time - 1 minute
Difficulty re-adjustment - 1 block
Block maturity - 1 blocks

[Rago]

We've had a think a little more about the coin specs, whilst still trying to remain respectful of Bitcoins specs.

Perhaps the below could address the issues mentioned?

Happy to discuss to see if anything needs further tweaking.

Technical specs:
Coin name - HalCoin
Abbreviation - XHF
Algo - SHA256
Based on - BitCoin
Total number of coins - 21,000,000
Block reward - 0 (ZERO) XHF initally for first 180 blocks (180 minutes) - fair launch and helps to obtain a sensible difficulty
Block reward - 181st block is a SUPERBLOCK of 905 XHF (HalCoin)
Block reward - Block 182 initiates 5 XHF reward per block
Block halving - 2,100,000 blocks (4 years)
Block time - 1 minute
Difficulty re-adjustment - 1 block
Block maturity - 1 blocks

I hate this SUPERBLOCK idea 

[bizzyb]

We've had a think a little more about the coin specs, whilst still trying to remain respectful of Bitcoins specs.

Perhaps the below could address the issues mentioned?

Happy to discuss to see if anything needs further tweaking.

Technical specs:
Coin name - HalCoin
Abbreviation - XHF
Algo - SHA256
Based on - BitCoin
Total number of coins - 21,000,000
Block reward - 0 (ZERO) XHF initally for first 180 blocks (180 minutes) - fair launch and helps to obtain a sensible difficulty
Block reward - 181st block is a SUPERBLOCK of 905 XHF (HalCoin)
Block reward - Block 182 initiates 5 XHF reward per block
Block halving - 2,100,000 blocks (4 years)
Block time - 1 minute
Difficulty re-adjustment - 1 block
Block maturity - 1 blocks

I hate this SUPERBLOCK idea 

Why?

The idea is that it will be mined by a pool therefore shared amongst miners.
Also, it is an incentive for pools to list XHF and attract more miners.

[bizzyb]

Due to a lack of interest we are locking this thread.
Thanks for the feedback.