[ANN] Terracoin (TRC) - Est 2012

[poblico]

I will set up a poll about merge mining!

I was under the impression that merge mining was already decided. Changing this due to one or two persons not understanding how merge mining works does not set a good president, plus people are not likely to vote for something they do not understand.

I have mined TRC for a long time now, but it has remained stagnant due to a lack of bringing anything new to the crypto table - it just doesn't have anything to entice miners to it. Enabling merge mining will change this. Personally, I want this coin to grow, but if it stays the same - that's OK too, but it will remain stagnant in it's current form unless merge mining is enabled.

I am totally with you on this p3yot33at3r

You can't please everyone, but you can make the coin useful and enticing again. Merge mining will bring hundreds or thousands of new and old users back in to the TRC blockchain.

By the way everyone, logo contest thread has been created here https://bitcointalk.org/index.php?topic=1375662.0

Take a look and give it a crack if you're feeling artistic 

I see no reason not to add merged mining this just opens the TRC for additional miners to contribute.

[clockuniverse]

I will set up a poll about merge mining!

I was under the impression that merge mining was already decided. Changing this due to one or two persons not understanding how merge mining works does not set a good president, plus people are not likely to vote for something they do not understand.

I have mined TRC for a long time now, but it has remained stagnant due to a lack of bringing anything new to the crypto table - it just doesn't have anything to entice miners to it. Enabling merge mining will change this. Personally, I want this coin to grow, but if it stays the same - that's OK too, but it will remain stagnant in it's current form unless merge mining is enabled.

It basically is.  I was just curious if he was the lone hold out or if other people were lurking around.  Remember, I started out with odd information about merge mining too.

Now thanks to this whole discussion you and everyone else has had with Hanzac I am now even more informed on the subject.  Thanks!

I am still going to throw a poll up, but I think that part of the new wallet specification is pretty much decided.

Should I create a poll for the other possibilities?

Side note: DOT donations are at: 88,953/5,000,000

[hanzac]

I will set up a poll about merge mining!

I was under the impression that merge mining was already decided. Changing this due to one or two persons not understanding how merge mining works does not set a good president, plus people are not likely to vote for something they do not understand.

I have mined TRC for a long time now, but it has remained stagnant due to a lack of bringing anything new to the crypto table - it just doesn't have anything to entice miners to it. Enabling merge mining will change this. Personally, I want this coin to grow, but if it stays the same - that's OK too, but it will remain stagnant in it's current form unless merge mining is enabled.

We can vote by block chain. All voters who support to add the feature (merge mining) can send a tiny amount of TRC (e.g. 0.01) from their TRC holding address to a fixed address.
Finally, we calculate the total weight (TRC holdings) that support this action by analyzing the transactions made to the fixed address.
If the support percentage can be more than 50%, I think it's O.K. for carry on the action.

However, to be more accurate, if lots of TRC holders are not active participants. We need to add another rule.
All voters against the feature (merge mining) send a tiny TRC to another fixed address. Then calculate again the total weight.

If SupportWeight > AgainstWeight, then we carry on the action.

How about this, I think this is quite fair.

[clockuniverse]

I will set up a poll about merge mining!

I was under the impression that merge mining was already decided. Changing this due to one or two persons not understanding how merge mining works does not set a good president, plus people are not likely to vote for something they do not understand.

I have mined TRC for a long time now, but it has remained stagnant due to a lack of bringing anything new to the crypto table - it just doesn't have anything to entice miners to it. Enabling merge mining will change this. Personally, I want this coin to grow, but if it stays the same - that's OK too, but it will remain stagnant in it's current form unless merge mining is enabled.

We can vote by block chain. All voters who support to add the feature (merge mining) can send a tiny amount of TRC (e.g. 0.01) from their TRC holding address to a fixed address.
Finally, we calculate the total weight (TRC holdings) that support this action by analyzing the transactions made to the fixed address.
If the support percentage can be more than 50%, I think it's O.K. for carry on the action.

However, to be more accurate, if lots of TRC holders are not active participants. We need to add another rule.
All voters against the feature (merge mining) send a tiny TRC to another fixed address. Then calculate again the total weight.

If SupportWeight > AgainstWeight, then we carry on the action.

How about this, I think this is quite fair.

I put a poll at the top of this ANN.  You have to be a registered member of bitcointalk to vote, so I think that should help weed out repeat votes.

Also, Terracoins wallet is so outdated that it doesn't have coin control to make it easy to count the votes in the manner you suggest.

We have set up a donation address already for the logo design bounty which is this - 16ffGRgxEd2oYpwZf3TRgCVAj6ja9b3WEY If you want to help create a new logo then send TRC donations there.  (1000 TRC already)

I understand where you are coming from, and I appreciate it.  I felt the same way when I started this thread.  I felt that by having merge mining TRC would lose a lot of its independence and would feel "less" by being reliant on other coins to help it succeed.  As the conversation has progressed my opinion has changed because I am imagining the future as, "I am going to mine TRC, because I also can mine Whatevercoin too." 

Not the other way around.

I think you have lost this round, Hanzac, but please don't go away.  I have been reading bitcointalk for years now and the reason I find that most coins fail is because everyone just marches down a narrow path without anyone suggesting alternatives.  Please keep suggesting alternatives and ideas.

[phatkiller]

1. SHA-256 Algorithm
2. 42 Million coins (I don't think this should ever change)
3. 20 TRC per block
4. Merge mining

These are areas up for immediate discussion which hopefully we can agree on in a week.  I want to have a clear path for the developer(s) in a week.

1. Difficulty recalculation at 540 blocks.  Up/Down?
2. Reward halving at 1050000 blocks.  Up/Down?
3. Blocks generated every 2 minutes?  Up/Down?

I am not trying to disregard anyone's input, and I want more input like we have been getting.

I just feel like we need to stop the bleeding before the patient dies.

Heres my opinion for everything.

I'm all for keeping algo SHA-256 with Bitcoin block halving coming some miners might be interested in moving to another coin if we can get some value on TRC they might make the move.

42 Millions coins I agree shouldn't change.

20 TRC per block another thing that shouldn't change with the exception of block halving.

Merge Mining...........I need to do more research on this before I can give opinion .

Difficulty Recalculation....I think maybe we should be looking into another coins retarget strategy over the last two years MANY options have popped up.

Reward Halving Keep as is once every ~4 years.

Block Generation keep @ every 2 min.

[craslovell]

@phatkiller

Thanks for the input. I like what you have to say. We basically need to bring the code totally up to date, change diff algo, and MAYBE make it merge-mineable. The great migration from bitcoin when blocks halve could be extremely beneficial to TRC. This coin needs to get up to where it belongs before that occurs or it might be missed.

[clockuniverse]

Heres my opinion for everything.

I'm all for keeping algo SHA-256 with Bitcoin block halving coming some miners might be interested in moving to another coin if we can get some value on TRC they might make the move.

42 Millions coins I agree shouldn't change.

20 TRC per block another thing that shouldn't change with the exception of block halving.

Merge Mining...........I need to do more research on this before I can give opinion .

Difficulty Recalculation....I think maybe we should be looking into another coins retarget strategy over the last two years MANY options have popped up.

Reward Halving Keep as is once every ~4 years.

Block Generation keep @ every 2 min.

I am going to leave the merge mine vote up for the next couple of days to just see if a bunch of people climb out of the wood works.
Though at this point it is basically decided (as it has been for a while).
I think the next discussion that we need to have is difficulty recalculation.  What do we want to do about that?  From what I read about one of those Darkcoins that Hanzac posted about was that it recalculated difficulty with every block.  Can we do that?  Should we do that?

NEWS:

DOT donations are at - 198,953/5,000,000 DOT for the Cryptopia buy in.  You can donate to my address: 1N5qY9gqYSeoPwTcdm2zcRZebdMMTyBZrx or transfer DOT to me on Cryptopia.  My username is clockuniverse.

Craslovell is running a logo redesign contest here:  https://bitcointalk.org/index.php?topic=1375662.0 to donate to the bounty you can send TRC here:  16ffGRgxEd2oYpwZf3TRgCVAj6ja9b3WEY  We are at 1500 TRC as of now.

We have a new p2pool here:  http://mvcv114.ddns.net:9322
Lack of interested caused him to turn it off, but since he has heard about the new TRC Foundation he turned it back on.  Someone test it out and tell us how it works.

A second developer has also expressed interest in helping us out.

Now all we need to do is get all of the specifications in a row!

Edit: I will update the OP and website soon.  I am a bit under the weather.

[islam99]

hi
how  can i  get  this  coin ?   i  have 00 TRC   
can  u  help  me      1HdVGYRs51e8Dop5SFNTaZTrkmdDgwzdZ2

[clockuniverse]

hi
how  can i  get  this  coin ?   i  have 00 TRC   
can  u  help  me      1HdVGYRs51e8Dop5SFNTaZTrkmdDgwzdZ2

The only place you can buy it right now is Vircurex.  If you can design a new logo then you could get some that way...

[islam99]

how  can  i design a new logo , 
what  do  u  mean 

[clockuniverse]

how  can  i design a new logo , 
what  do  u  mean 

Four posts above this one has info about the Terracoin Logo design bounty.

[craslovell]

how  can  i design a new logo , 
what  do  u  mean 

Right here buddy https://bitcointalk.org/index.php?topic=1375662.0

Make it look pretty, and you will win 2,000 + TRC

Also, feel free to hop on the network and start mining some 

[poblico]

1. SHA-256 Algorithm
2. 42 Million coins (I don't think this should ever change)
3. 20 TRC per block
4. Merge mining

These are areas up for immediate discussion which hopefully we can agree on in a week.  I want to have a clear path for the developer(s) in a week.

1. Difficulty recalculation at 540 blocks.  Up/Down?
2. Reward halving at 1050000 blocks.  Up/Down?
3. Blocks generated every 2 minutes?  Up/Down?

I am not trying to disregard anyone's input, and I want more input like we have been getting.

I just feel like we need to stop the bleeding before the patient dies.

Heres my opinion for everything.

I'm all for keeping algo SHA-256 with Bitcoin block halving coming some miners might be interested in moving to another coin if we can get some value on TRC they might make the move.

42 Millions coins I agree shouldn't change.

20 TRC per block another thing that shouldn't change with the exception of block halving.

Merge Mining...........I need to do more research on this before I can give opinion .

Difficulty Recalculation....I think maybe we should be looking into another coins retarget strategy over the last two years MANY options have popped up.

Reward Halving Keep as is once every ~4 years.

Block Generation keep @ every 2 min.

Yeah agree we have options, there are many good advances in retargeting like DS from dogecoin or KGW from auroracoin.

This detail is very important for terracoin because we use SHA-256 so a miner can effectively:

• point a lot of hash power to make lots of coins, quick re targeting will prevent that
• when the miner leaves the target will be so high it will take long time to mine a block

Checkout the discussion here https://cryptocointalk.com/topic/9789-breakdown-of-difficulty-re-targeting-algos/
 

[clockuniverse]

This is the last detail that we need to have for the developers so please put your hat in the ring and lets decided on the difficulty readjustment.

After a few people have posted some opinions and if there is some disagreement I will post a new poll.

Updated News:

DOT donations are at - 298,953/5,000,000 DOT for the Cryptopia buy in.  You can donate to my address: 1N5qY9gqYSeoPwTcdm2zcRZebdMMTyBZrx or transfer DOT to me on Cryptopia.  My username is clockuniverse.

Craslovell is running a logo redesign contest here:  https://bitcointalk.org/index.php?topic=1375662.0 to donate to the bounty you can send TRC here:  16ffGRgxEd2oYpwZf3TRgCVAj6ja9b3WEY  We are at 2000 TRC as of now.

TRC and DOT is very cheap right now so I think we all can throw a few of each towards our goals.

If you want to get TRC on Cryptopia then throw some DOT at that address.

If we want a new and improved logo we need to pay people their worth so throw some TRC at that address!

I have transferred TRC and BTC in and out of Vircurex as a test in the past week or so with no problems.  The buy orders on Vircurex for TRC is around .00000500.  I imagine this is the last time it will be so cheap.

[craslovell]

I say we use DGW for the difficulty retarget algo. Will work well for rapidly adjusting hashrate and will definitely improve mining for Terracoin over the shortcomings of a standard 2016 block retarget.

[clockuniverse]

I say we use DGW for the difficulty retarget algo. Will work well for rapidly adjusting hashrate and will definitely improve mining for Terracoin over the shortcomings of a standard 2016 block retarget.

I agree!  Dark Gravity Wave seems like a pretty security option.  Does anyone else have any other suggestions or does this work for everyone?

[clockuniverse]

New Community task:  All links on all websites point to old TRC information. If you are on a website and you notice that they have old links to the old website, or are missing the bitcointalk forum please have the website update their info with the correct links. Or post a link on here and I will email the website. Thanks!

If you want to discuss it on reddit then here is the link  https://www.reddit.com/r/Terracoin/comments/485bf5/new_community_task_update_info_on_outdated/

[clockuniverse]

DOT donations are at 1,918,996/5,000,00 DOT.  Please donate towards us getting on Cryptopia!  Here is the address - 1N5qY9gqYSeoPwTcdm2zcRZebdMMTyBZrx

[mvcv114]

Call me crazy, but merged mining should not affect what would be considered calculation of difficulty per node; the difference being is that the merged mining component (node) is mining with varied hash and share rates, causing the calculation of difficulty per node to be more difficult since those two variable would be changing.  In other words, the difficulty would be changing for a merged mine node every instance of check-in on the blockchain, share, block find and any other event on the blockchain.

I am approaching this strictly from a mining point of view, specifically p2pool merged mining pools.  To that end, I have run a view with the merged mining pool option which was basically making sure that time was optimized per hash. 

I am suggesting that the calculation would not change, just the frequency.  If I am wrong, please let me know and where to find the calculation.

[jolskeboll]

An important question. If the wallet is updated for TRC and vircurex does not update it, will we still be able to withdraw our coins to the updated wallet?