[ANN] Terracoin (TRC) - Est 2012

[SixOfFive]

Here is another idea I had for the masternode roll out.

Each masternode can have up to 10,000 TRC or as little as 1,000 TRC.  For each 1k TRC you have in your masternode wallet you would get more of a reward.  A masternode with 10k would get 10 times the reward compared to one with 1,000.  Each masternode would get only 1 vote regardless of the number of coins it holds.  That way the more you have up till 10k the more reward you get, but you couldn’t pay to vote more, unless you create more masternodes. 

More masternodes help protect the network.

That way if you are an early adopter but can't afford the 10k TRC you could set up a masternode with 1k TRC and just hold onto your coins and as the payouts roll out you would get a larger reward.

What does everyone think?

With how the masternode checks work, I don't think this is possible as the masternode setup checks the txid for the amount (iirr it has to be exactly 1k for dash) .. if its not exact, I don't believe the masternode can be brought online (don't quote me on that though as I haven't dived into the code). With ongoing payments into a masternode, there are multiple txid's. Not exactly a simple check against one txid compared to ongoing increments of txids.

With your thought of "each masternode would get only 1 vote" .. so if I had 1k trc, or 10k trc in one masternode, I only get 1 vote, but if I take my 10k trc, divide it up into 10 masternodes, I get 10 votes... Doesn't seem like a good setup imo. Maybe have weighted voting.. if a user has 100k trc in a masternode, give them voting power of 100x compared to a vote from a node of 1k.

I'm all for the idea of trc going to masternodes. TBH I think it would give trc a nice boost.

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[clockuniverse]

With how the masternode checks work, I don't think this is possible as the masternode setup checks the txid for the amount (iirr it has to be exactly 1k for dash) .. if its not exact, I don't believe the masternode can be brought online (don't quote me on that though as I haven't dived into the code). With ongoing payments into a masternode, there are multiple txid's. Not exactly a simple check against one txid compared to ongoing increments of txids.

With your thought of "each masternode would get only 1 vote" .. so if I had 1k trc, or 10k trc in one masternode, I only get 1 vote, but if I take my 10k trc, divide it up into 10 masternodes, I get 10 votes... Doesn't seem like a good setup imo. Maybe have weighted voting.. if a user has 100k trc in a masternode, give them voting power of 100x compared to a vote from a node of 1k.

I'm all for the idea of trc going to masternodes. TBH I think it would give trc a nice boost.

Interesting.  Maybe this will be something that we need to develop ourselves.

The idea behind forcing people to set up more masternodes to be able to vote is to create more masternodes.  More masternodes create a more robust network.

Masternodes take a little more work then just having a wallet, and it could cost money to run a masternode considering what resources you have available.  This way if you don't want to spend the effort or money to set up 10 masternodes to vote 10 times, but you want the rewards you could hold onto 10K TRC for the rewards.

It is a balancing act, and for right now the simpler the better.

We just need to implement masternodes and decentralized governance as fast a possible and grow from there.

Remember, even if a developer fell out of the sky tomorrow, we will still need to run a test net for a month and a half to make sure masternodes, webpages and payouts are working.

I recommend getting TRC cheap while you can. 

[johnwhitestar]

Good news!  That weird coin named TERRA (not Terracoin) is getting de-listed on C-Cex.  Now people won't get confused and come here looking for help with it!

That's fine. There is another Teracoin there that would be better for us to have delisted :-)

[phatkiller]

I recommend getting TRC cheap while you can. 

Man oh man you couldn't have said it better, nice overdue price jump; with all the masternode talk going on i should have closed some of my sell orders but its fine still have some hoarded.

I know you guys were talking about fake volumes at the exchanges but rest assured this jump right now is real i sold over 20k TRC from 500 - 750 sats btwn Cryptopia, Tradesatoshi, and Nova Exchange for BTC/LTC/DOGE

[clockuniverse]

Good news!  That weird coin named TERRA (not Terracoin) is getting de-listed on C-Cex.  Now people won't get confused and come here looking for help with it!

That's fine. There is another Teracoin there that would be better for us to have delisted :-)

I recommend getting TRC cheap while you can.  

Man oh man you couldn't have said it better, nice overdue price jump; with all the masternode talk going on i should have closed some of my sell orders but its fine still have some hoarded.

I know you guys were talking about fake volumes at the exchanges but rest assured this jump right now is real i sold over 20k TRC from 500 - 750 sats btwn Cryptopia, Tradesatoshi, and Nova Exchange for BTC/LTC/DOGE

EDIT: It looks like both tera and terra got a bump from us, so neither of them are going to be de-listed now. 

It looks like they also got a bump around the same time as TRC.  People were probably confused.

I also think those buys are real.  They ate through a ton of TRC.

[win777]

1. change the algorithm(maybe use zerocoin's or other cpu's ), sha-256 makes people fell unsafe, that is the biggest reason for the low price
2. add zerocoin's anonymous
3. add masternodes like dash.

above three points would make terrain fly.  one more thing is the logo is very ugly, i am personally prefer the one before, thanks anyway.

if you are planning to do those three changes, I'd like to donate some coins.

[clockuniverse]

1. change the algorithm(maybe use zerocoin's or other cpu's ), sha-256 makes people fell unsafe, that is the biggest reason for the low price
2. add zerocoin's anonymous
3. add masternodes like dash.

above three points would make terrain fly.  one more thing is the logo is very ugly, i am personally prefer the one before, thanks anyway.

if you are planning to do those three changes, I'd like to donate some coins.

1. I don't know if people feel unsafe with SHA256.  I also think people would be very upset if we changed the algorithm to something else.
2. We are probably holding off on anonymous sending right now because of worry about countries banning coins with anonymous send
3. That is the plan

4. (Logo) - Me and the new marketing person just had a long discussion about the logo and since we just changed it 5 or so months ago we have decided to keep it so that people don't get confused.

[win777]

1. change the algorithm(maybe use zerocoin's or other cpu's ), sha-256 makes people fell unsafe, that is the biggest reason for the low price
2. add zerocoin's anonymous
3. add masternodes like dash.

above three points would make terrain fly.  one more thing is the logo is very ugly, i am personally prefer the one before, thanks anyway.

if you are planning to do those three changes, I'd like to donate some coins.

1. I don't know if people feel unsafe with SHA256.  I also think people would be very upset if we changed the algorithm to something else.
2. We are probably holding off on anonymous sending right now because of worry about countries banning coins with anonymous send
3. That is the plan

4. (Logo) - Me and the new marketing person just had a long discussion about the logo and since we just changed it 5 or so months ago we have decided to keep it so that people don't get confused.

1.think about if terrapin's price fly to the moon, there may be many sha256 power from other community's like bitcoin attacking the network, it will easily crash the network, for this reason, none of people will trust it.

2. don't think too much ,just do it

3. make it a simple and clear design, current one is really complicated and people don't know what is it......keep it in mind, the simplest , the best, this is apple's experiences

[myhoho]

 I think sha-256 is determining factor for this coin identity. An important part of its heritage. If we change the algorithm we are making something totally different. You cant just draw a winged horse with a horn projecting from its forehead and still insist people should call it just a horse, not a pegasus or unicorn .

[win777]

I think sha-256 is determining factor for this coin identity. An important part of its heritage. If we change the algorithm we are making something totally different. You cant just draw a winged horse with a horn projecting from its forehead and still insist people should call it just a horse, not a pegasus or unicorn .

it is not bitcoin, is it? there wont be any altcoin succeed with sha-256, I dare to put 10 bitcoins bet

[IconFirm]

I think sha-256 is determining factor for this coin identity. An important part of its heritage. If we change the algorithm we are making something totally different. You cant just draw a winged horse with a horn projecting from its forehead and still insist people should call it just a horse, not a pegasus or unicorn .

it is not bitcoin, is it? there wont be any altcoin succeed with sha-256, I dare to put 10 bitcoins bet

I'll take that bet.

There are literally 100's of altcoins that don't use the sha256 algo. If you prefer not to use this algo then feel free to use a different altcoin that suits your preference - there really is a huge choice for you.

[hanzac]

I think sha-256 is determining factor for this coin identity. An important part of its heritage. If we change the algorithm we are making something totally different. You cant just draw a winged horse with a horn projecting from its forehead and still insist people should call it just a horse, not a pegasus or unicorn .

it is not bitcoin, is it? there wont be any altcoin succeed with sha-256, I dare to put 10 bitcoins bet

Don't worry man. If there's a need, I think a different coin with different algo could be created.
But for now, let's be stable and focus on usability of TRC.

For me, sha256 is safe, Bitcoin uses it and TRC supports merged mining. So for chain security issue, we can just follow with Bitcoin.

If you say the success in mainstream global currency, you might be right. BTC is the one.
But TRC, you can treat it as an alternative one, supplemental one. Especially, BTC's slow, crowd and expensive network.
You can also consider TRC and other alts are some kind of distributed organization shares. They can succeed in their own region.

[clockuniverse]

I think sha-256 is determining factor for this coin identity. An important part of its heritage. If we change the algorithm we are making something totally different. You cant just draw a winged horse with a horn projecting from its forehead and still insist people should call it just a horse, not a pegasus or unicorn .

Well said.  This is exactly why we are sticking with SHA-256.

[cryptodv]

I was looking at the charts for this earlier today, had never heard of this coin, now it pops up on the ANN page, maybe it's fate.
I'll take a dab at it. I like it's numbers. 

[myhoho]

I was looking at the charts for this earlier today, had never heard of this coin, now it pops up on the ANN page, maybe it's fate.
I'll take a dab at it. I like it's numbers.  

 O, many crypto-oldfags like me still remember it was listed on btc-e.com (their trade engine still has some tags for TRC) and trading volume was HUGE  ...  Terracoin revival might become a legend someday )

[hanzac]

1. change the algorithm(maybe use zerocoin's or other cpu's ), sha-256 makes people fell unsafe, that is the biggest reason for the low price

I think you're worry about the centralized sha256 pools can attack the network. I think with DGW, it can survive after hitting by some large pool. I'll provide some calculation when I have time.

[myhoho]

 I really think we should establish the development fund and promise that bounty for upcoming skilled developers (not just a modest donation jar). I'm dev myself (but I have incompatible programming language preferences (java-scala)) and I can tell you that I will never really care about any crypto if I haven't my share in it. It's easier to code from scratch rather than revive the dead. If we are able to collect significant part of TRC to the development fund we might find someone interested.
 And I guess its time to set up slack.

[clockuniverse]

I really think we should establish the development fund and promise that bounty for upcoming skilled developers. I'm dev myself (but I have incompatible programming language preferences (java-scala)) and I can tell you that I will never really care about any crypto if I haven't my share in it. It's easier to code from scratch rather than revive the dead. If we are able to collect significant part of TRC to the development fund we might find someone interested.

I'm talking with a couple of people who are interested, but they are somewhat busy.  If they are unable to help then we will move on to a different way to recruit.  I also am working on the first proposal for the decentralized governance system so everyone has a better idea of what the core team would get paid.

[hanzac]

I really think we should establish the development fund and promise that bounty for upcoming skilled developers. I'm dev myself (but I have incompatible programming language preferences (java-scala)) and I can tell you that I will never really care about any crypto if I haven't my share in it. It's easier to code from scratch rather than revive the dead. If we are able to collect significant part of TRC to the development fund we might find someone interested.

I'm talking with a couple of people who are interested, but they are somewhat busy.  If they are unable to help then we will move on to a different way to recruit.  I also am working on the first proposal for the decentralized governance system so everyone has a better idea of what the core team would get paid.

We need to finalize the design part, then split into tasks of implementation, each task is a bounty.
Is there a way without hard fork, be careful about hard fork.

If you really want to go hard forking, I have another idea. We can combine Peercoin's POS system and Dash's Masternode system together.

I think they're a perfect match. Each masternode has 1000+ coins (or adjust automatically in future) as stake, they can produce POS blocks. To remain the original supply specification, the interest per year will decrease. As we assume transaction fee will increase and the value of TRC will increase, it will still attract people to run masternodes.

[johnwhitestar]

3. make it a simple and clear design, current one is really complicated and people don't know what is it......keep it in mind, the simplest , the best, this is apple's experiences

I agree that TRC logo design should be changed as soon as possible.