🌟🌟🌟 [SIL] 611 SIXELEVEN ◥◣ BLOCKCHAIN DOMAIN NAME SYSTEM 🌟🌟🌟

[CowboyKiller]

This means that 333,728.2 SIL, or a whopping 54.62% of the total eventual supply, was instamined by the 611 developer.

Congratulations dev on having 54.62% of nothing. Fuck you.

[1714056327]

1714056327

[1714056327]

1714056327

[PatrickMacH]

Hey guys,

Hey, looking through the block explorer, I noticed something that doesn't sit right with me.

The initial instamined blocks were all worth 611 coins, a thousand times more valuable than the 0.611 block reward currently running. This was then reduced to 61.1 coins per block reward, and then presumably further by multiples of 0.1. This is not disclosed anywhere in the original post. In fact, none of the block structure is disclosed in the original post.

From downloading the wallet upon first seeing the original post, I know about 8000 blocks had been mined before public release. This wouldn't be so excessive if the block reward had been 0.611 coins the whole time-- basically this would have resulted in a premine of about 4888 SIL out of 611,000 total eventual supply, which is reasonable at 0.8%.

However, this is the actual mining reward structure:

Block 1-287: 611 coins per block NOT DISCLOSED IN OP
Block 288-2879: 61.1 coins per block NOT DISCLOSED IN OP
Block 2880: 0.611 coins per block, smoothly decaying

yes, that's a fact. As 611 (SixEleven) is a fork of the original Namecoin the initial mining block values were static numbers (like Namecoin). To avoid a heavy inflation situation as it occurs to Namecoin (and many other altcoins) the mining reward algorithm was adapted mulitple times during the early development phase. These development steps are public open source on Github: https://github.com/fflo/sixeleven/commits/master.611/src/main.cpp

This means that 333,728.2 SIL, or a whopping 54.62% of the total eventual supply, was instamined by the 611 developer.

It appears this fact was deliberately hidden with the late release of a block explorer and the use of the low-information Abe block explorer.

Add to this the notion that the developer has been encouraging other miners to set a price for their mined SIL at approximately $60 USD means the developer is attempting to value his premine at upwards of $20,000,000 USD.

That's the current situation:
The developer is not selling any coins for commercial purpose. There is no commercial intention on this project. It's up to you, the miners, the users, the brokers, etc. what you set up as a sales price for your mined ressources.

This Namecoin fork is an open source project: The intention is to offer a base technical infrastructure allowing everyone to setup name (and id) objects which are accessible worldwide by any Internet connected device.
Together we can design the coin to be like we want it; we can even folk it and start over with another name and mining algorithm. It's all transparent and open source.

The developer for sure is not your rival supporting this project for non profit.

PatrickMacH, if you don't take steps to disclose your premine fully and burn most or all the coins you did not disclose that you mined at a higher block reward, this initiative is no longer worth miners' support.

I'm looking forward to your response.

We know for sure from the block explorer that this coin suffers a heavy premine! That's a fact mainly in cause to the reducement steps of the mining awards during the early development phase.
We know that out of the available coins of the develoment phase (which are spendable) there are only rare coins available for sale for private or research use only on a price level which does not compete against any miner of this coin.
We also know that 611 (SixEleven) supports merged mining. At the miners perspective you do not loose or risk anything mining this altcoin. You can only benefit from mining 611 (SixEleven) as your mined coins are the basis for new name (or id) objects or object modifications.

From my point of view it's a good thing to know that there should be a certain amount of assets available to compat overtrading which causes serious harm to many other altcoins.

The idea of this coin is to offer a base for a stable open source domain name system. To reach that aim it's important that name and id ressources are affordable at any time in need even if you have no access to mining ressources. That's the reason why I've suggested to discuss a reasonable price corridor from time to time to make sure that no ressources are dumped for destructive speculation.


Let me know if you have any ideas how we can and should adjust the current situation to have a even-handed situation for both parties: the miners and the users.

[nix_on]

This means that 333,728.2 SIL, or a whopping 54.62% of the total eventual supply, was instamined by the 611 developer.

Congratulations dev on having 54.62% of nothing. Fuck you.

Wow cowboy 

[p3yot33at3r]

Let me know if you have any ideas how we can and should adjust the current situation to have a even-handed situation for both parties: the miners and the users.

You should have made this known from the beginning in the OP. By not doing so, it gives the impression that you were trying to hide this fact. Over 50% is a crazy amount of premine - nobody will adopt this coin now, & I have stopped mining it.

This was one of the rare coins that actually had promise, but by not being transparent from the beginning, you have killed your own coin.

Disappointed 

[PatrickMacH]

Let me know if you have any ideas how we can and should adjust the current situation to have a even-handed situation for both parties: the miners and the users.

You should have made this known from the beginning in the OP. By not doing so, it gives the impression that you were trying to hide this fact. Over 50% is a crazy amount of premine - nobody will adopt this coin now, & I have stopped mining it.

611 (SixEleven) allows anyone with minimal SIL ressources to register name (and id) objects to store data in the blockchain which is accessible worldwide by any Internet connected device using standard dns lookup request.
Having a view on the technical aspects of 611 (SixEleven), it doesn't really matter how many ressources you own or not. Having mined a few SILs can last a lifetime to renew and update your personal name (and id) objects.

This was one of the rare coins that actually had promise, but by not being transparent from the beginning, you have killed your own coin.
Disappointed  

Remarkable and also understandable!

Fortunately it is not in my hands to kill this altcoin; the heavy burden lies on the shoulds of the majority of users; only together we can agree on changing things to be better tomorrow. Hey it's 611 (SixEleven), it's open source!

Premining blocks have been transparent for discussion since the first announcement of 611 (SixEleven) on bitcointalk: https://bitcointalk.org/index.php?topic=1235629.msg12865151#msg12865151

Following the development history on Github anyone can check in a transparent matter that it took weeks to get this Namecoin fork running smoothly with all needed adaptation, infrastructure and testing. That's why the SIL distribution key suffers disparity.

I can only speak for myself: I'm not owning 50% "of nothing". I also dislike the situation caused by the mining reward adaptions during the early development phase but I know for sure that little is better than nothing.

I like 611 (SixEleven) for the great possibilities offered by the new blockchain to dns interface.

For sure I know that 611 (SixEleven) like Namecoin both are very miner friendly crypto currencies. You can merge mine them with any other Bitcoin sha256 based currency. Taking all factors into account miners can only win mining 611 (SixEleven) together with other sha256 based altcoins.

As ressources are clear: A bird in the hand is worth two in the bush.

[CowboyKiller]

Your coin is dead because your a greedy piece of shit. Keep backpeddaling fucktard.

[PatrickMacH]

Your coin is dead because your a greedy piece of shit. Keep backpeddaling fucktard.

If it makes you feel better, you can blame me, you can affront me if that's your preferred way to express your emotions.

For sure I can tell you that I'm not owning or have premined all 611 (SixEleven) coins. But even if it would be the case that someone else could own the majority of coins - with a clear conscience I'm glad that it doesn't matter at all: 611 (SixEleven) allows me to store and publish information using the anonymous DNS system of [MyObject].611.TO whenever and whereever I like it. I do not need to ask someone else for permission and it doesn't matter - at least for my private demand - if I'm a poor or rich owner if SILs to use this cool service.

That's why I like using this Namecoin fork, because it offers the service that Namecoin should do at least on paper.

As long as no one has forked a better project and as long as my records are available on a stable, fast and reliable dns system I really see no reason to abandon 611 (SixEleven).

If you don't like - I'd love to see you doing things better

[notsofast]

I haven't been around since my original post about the undisclosed premine.

Patrick, I can't tell if you're saying you mined those early high block rewards or not.

Regardless of your faith in the technology, you need reasonable distribution and miner interest.

I think you need to be completely transparent about where these SIL coins are. Get a  cryptoid or iquidus block Explorer so we can see for ourselves which addresses are holding the mined amounts from these early blocks. Disclose your own  holdings, and burn them down to a reasonable amount. Or escrow them and earmark them for real development. Or distribute them equally among all SIL wallets after a promo campaign.

If  you don't, someone will clone your coin except distribute it fairly and your efforts will be buried.

[PatrickMacH]

[...] I think you need to be completely transparent about where these SIL coins are. Get a  cryptoid or iquidus block Explorer so we can see for ourselves which addresses are holding the mined amounts from these early blocks. Disclose your own  holdings, and burn them down to a reasonable amount. Or escrow them and earmark them for real development. Or distribute them equally among all SIL wallets after a promo campaign.

That's a good idea: Do you have an idea how may get 611 (SixEleven) to be added to cryptoID?
I've choosen to setup a self-modified version of abe, because it allows you to look up the name and id objects being stored, updated and transferred. All the other block explorers are only showing coin based transactions which are mainly important for (alt) coins intended as a replacement for fiat money.

611 (SixEleven), like Namecoin is an altcoin with an included real value option: You can publish and distribute name and id objects which are accessible worldwide with every device connected to the internet using standard dns resolve requests.

If  you don't, someone will clone your coin except distribute it fairly and your efforts will be buried.

I like your feedback. It's a great idea to set-up a promo campaign to distribute and equally the SIL wallets AND to push the deployment of 611 (SixEleven) name (and id) objects.

To push the deployment and value for miners, I'm offering the following rewards as a first promo campaign:

• 100 SIL to the first ten registered name objects, which are using a [Name].611.to as an URL to a real website, like private blogs and/or any other Internet based service (like remote access, control and automation, surveillance, ham, irc, etc.) (BUT: no redirects, no coming soon or under construction websites, no for sale name blocking).
• 10 SIL to the next hundret registered name objects following the same rules.

To claim send an email including the URL (service, protocol, port, uptime and short service description) and your inbound SIL address to ClaimSixEleven@safetymail.info (Note: this is a public email address that everyone can check using Mailinator, do not disclose private information!) or quote this message. Claiming SixEleven you agree that your service or website will be published using this thread later.

Based on the feedback, let's talk about additional campaigns after this first run.

[PatrickMacH]

[...]
To push the deployment and value for miners, I'm offering the following rewards as a first promo campaign:

• 100 SIL to the first ten registered name objects, which are using a [Name].611.to as an URL to a real website, like private blogs and/or any other Internet based service (like remote access, control and automation, surveillance, ham, irc, etc.) (BUT: no redirects, no coming soon or under construction websites, no for sale name blocking).
• 10 SIL to the next hundret registered name objects following the same rules.

To claim send an email including the URL (service, protocol, port, uptime and short service description) and your inbound SIL address to ClaimSixEleven@safetymail.info (Note: this is a public email address that everyone can check using Mailinator, do not disclose private information!) or quote this message. Claiming SixEleven you agree that your service or website will be published using this thread later.

Update 1/10: http://anonymous.611.to -> Encrypted / Anonymous Email Service

[notsofast]

[...] I think you need to be completely transparent about where these SIL coins are. Get a  cryptoid or iquidus block Explorer so we can see for ourselves which addresses are holding the mined amounts from these early blocks. Disclose your own  holdings, and burn them down to a reasonable amount. Or escrow them and earmark them for real development. Or distribute them equally among all SIL wallets after a promo campaign.

That's a good idea: Do you have an idea how may get 611 (SixEleven) to be added to cryptoID?
I've choosen to setup a self-modified version of abe, because it allows you to look up the name and id objects being stored, updated and transferred. All the other block explorers are only showing coin based transactions which are mainly important for (alt) coins intended as a replacement for fiat money.

611 (SixEleven), like Namecoin is an altcoin with an included real value option: You can publish and distribute name and id objects which are accessible worldwide with every device connected to the internet using standard dns resolve requests.

If  you don't, someone will clone your coin except distribute it fairly and your efforts will be buried.

I like your feedback. It's a great idea to set-up a promo campaign to distribute and equally the SIL wallets AND to push the deployment of 611 (SixEleven) name (and id) objects.

To push the deployment and value for miners, I'm offering the following rewards as a first promo campaign:

• 100 SIL to the first ten registered name objects, which are using a [Name].611.to as an URL to a real website, like private blogs and/or any other Internet based service (like remote access, control and automation, surveillance, ham, irc, etc.) (BUT: no redirects, no coming soon or under construction websites, no for sale name blocking).
• 10 SIL to the next hundret registered name objects following the same rules.

To claim send an email including the URL (service, protocol, port, uptime and short service description) and your inbound SIL address to ClaimSixEleven@safetymail.info (Note: this is a public email address that everyone can check using Mailinator, do not disclose private information!) or quote this message. Claiming SixEleven you agree that your service or website will be published using this thread later.

Based on the feedback, let's talk about additional campaigns after this first run.

That's a fair idea for pushing some registered name objects. I like that you can build a list of 611.to sites to place in the OP from it.

I still think you need to disclose the amount of the premined SIL in the OP though.

[forzendiablo]

you need to pay like 0.07 BTC to get on cryptoid.

if this projecti s serious u NEED explorer host outsourced to be real and fair.


how come there is still no exchange for this?!

[wildduck]

Because no one know the primine.

[PatrickMacH]

you need to pay like 0.07 BTC to get on cryptoid.

Do you have a link how it works?

if this projecti s serious u NEED explorer host outsourced to be real and fair.

The block explorer be.611.to is not part of the official 611 (SixEleven) development repository. It's a non profit donation. Indeed everyone can setup up block explorer as anyone currently using the 611-Qt (or 611d) software has a full copy of the blockchain since the first block.

be.611.to does furthermore display any name (and id) related operation: like name transfer, name renewal, name registration, etc.
If you want I can ask if we can get a copy of the modifications uploaded to the 611 (SixEleven) development repository.

how come there is still no exchange for this?!

611 (SixEleven) is still missing a stable consumer demand. I guess outside of this forum nobody knows that there's a new public and free dns system allowing to setup appreciable name (or id) objects to simplify access to web services, remote access, dynamic router access, etc.

Freaks currently prefer to (merge) mine the desired ressources.

On Cryptsy we have currently 86 votes for 611. If you are using this exchange, please vote and support 611 (SixEleven). It's free.
If you prefer to use any other exchange, you're welcome to request support for 611 (SixEleven). Software like Bitcoin is free, sources are available on Github.

[p3yot33at3r]

you need to pay like 0.07 BTC to get on cryptoid.

Do you have a link how it works?

https://bitcointalk.org/index.php?topic=571254

611 (SixEleven) is still missing a stable consumer demand.

That's because someone might have pre-mined over 50%.......

[PatrickMacH]

[...] to get on cryptoid.

Do you have a link how it works?

https://bitcointalk.org/index.php?topic=571254

Thx. for the hint. I've contacted fairglu. I like his project

[PatrickMacH]

[...]
To push the deployment and value for miners, I'm offering the following rewards as a first promo campaign:

• 100 SIL to the first ten registered name objects, which are using a [Name].611.to as an URL to a real website, like private blogs and/or any other Internet based service (like remote access, control and automation, surveillance, ham, irc, etc.) (BUT: no redirects, no coming soon or under construction websites, no for sale name blocking).
• 10 SIL to the next hundret registered name objects following the same rules.

To claim send an email including the URL (service, protocol, port, uptime and short service description) and your inbound SIL address to ClaimSixEleven@safetymail.info (Note: this is a public email address that everyone can check using Mailinator, do not disclose private information!) or quote this message. Claiming SixEleven you agree that your service or website will be published using this thread later.

Update 1/10: http://anonymous.611.to -> Encrypted / Anonymous Email Service
Update 2/10: http://payz.611.to -> PayZ Music (waiting to be claimed...)

[PatrickMacH]

[...]
To push the deployment and value for miners, I'm offering the following rewards as a first promo campaign:

• 100 SIL to the first ten registered name objects, which are using a [Name].611.to as an URL to a real website, like private blogs and/or any other Internet based service (like remote access, control and automation, surveillance, ham, irc, etc.) (BUT: no redirects, no coming soon or under construction websites, no for sale name blocking).
• 10 SIL to the next hundret registered name objects following the same rules.

To claim send an email including the URL (service, protocol, port, uptime and short service description) and your inbound SIL address to ClaimSixEleven@safetymail.info (Note: this is a public email address that everyone can check using Mailinator, do not disclose private information!) or quote this message. Claiming SixEleven you agree that your service or website will be published using this thread later.

Update 1/10: http://anonymous.611.to -> Encrypted / Anonymous Email Service
Update 2/10: http://payz.611.to -> PayZ Music
Update 3/10: http://qso.611.to -> QSO quick chat

[PatrickMacH]

Difficulty seems to be at an all-time high but there still aren't any mining pools for 611. We need a pool owner to check out this thread.

It would be perfect if pool owners managing Bitcoin based pools can add 611 (SixEleven) to their merged mining setups.

Multipool.us is at least aware of 611 now. It's been a very long while since they've revised their mix of mined coins... let's hope their interest is piqued.

If you like to optimize your profit mining 611 (SixEleven) you may try out P2Pool:

  Running a local copy of P2Pool allows you to mine Bitcoin blocks together with other miners within a large peer to peer network, so your mining revenue should be rough about the same like mining for any other Bitcoin mining pool.

  Additionally P2Pool allows you to merge mine Bitcoin with any other SHA256 based altcoins, like Namecoin, 611 (SixEleven) and probably many others.

You have to install, setup, run and synchronize the blockchain(s) of Bitcoin, 611 (SixEleven) (and optional: any other altcoin supporting merged mining).

In case all desired coin daemons are running, it's just as easy as running this single command to setup your own pool:

Code:

~/p2pool/run_p2pool.py --give-author 0.5 bitcoinrpc YourBitcoinRpcPass --merged http://sixelevenrpc:Your611RpcPass@127.0.0.1:8663 -f 0 --max-conns 22 --outgoing-conns 11 --debug

After this step point your stratum compatible miners to the tcp port 9332; username is any valid bitcoin address; password does not matter - like:

Code:

./cudaminer -o stratum+tcp://MyIpAddress:9332 -O 15...:thisisnopass

I've already setup the needed coin daemons, synchronized the blockchains; but I've not found a solution how to payout the revenue of the merge mined coin(s). Your feedback is welcome if you like to support me setting up a fixed pool for this task

[bhokor]

I thought Interesting project, but watching tutorial when i saw : 1 SIL = 16.11 USD......man i am not rich it is extreme expensive, in fact sil-namecoin relation is 1SIL=32 Namecoins, please low the prices and it will be an interesting project for me again

thanks