[ANN] Terracoin (TRC) - Est 2012

[samspaces]

Looks like Mastercoin and Devcoin also have interchangeable addresses with bitcoin.

Terracoin has a pretty honorary mention here.

https://bitcointalk.org/index.php?topic=134179.0

Pretty old review, though.

[1714136504]

1714136504

[1714136504]

1714136504

[clockuniverse]

@clockuniverse, can you add the Dash Governance Proposal link in the first page? So everyone can easily see this.
My idea is that the percentage of mined coins allocated to the master nodes and the foundation address, should also be voted by the governance system.
What do you think?

Everyone is free to operate the master nodes including the miners. So let's vote it and decide what's the proper number.

The split is hard coded, and both the miners and masternodes are equally important.  They serve different functions but both help secure the network, and later the masternodes will have more functions as we add features.

Looks like Mastercoin and Devcoin also have interchangeable addresses with bitcoin.

Terracoin has a pretty honorary mention here.

https://bitcointalk.org/index.php?topic=134179.0

Pretty old review, though.

That is cool!

Noticed that Terracoin addresses are interchangeable with Bitcoin addresses. 

But what does it imply? Is there any practical use of it?

You can export your private key from Bitcoin or Terracoin (or Mastercoin or Devcoin) and import it into the other wallet making your address the same.  If, for example, you accidentally sent Bitcoin to a Terracoin address then you could export your private key from Terracoin, then important it into Bitcoin.  Then you would have your coins.  I just found out about this like two weeks ago.

What will happen if suddenly all the miners decide to stop mining?

If all the miners stopped mining then the coin would be dead.  It would look like the link I posted about vircurex.  No one is mining that blockchain so all they can do is sell their TRC and get out the Bitcoin (or other altcoin).

I seriously doubt that would happen though because Terracoin is merge mined so it doesn't take any extra hash to mine it while you mine something else.  I also know of one mining pool that is very eager for us to implement the DASH code because it makes Terracoin more valuable.

Without innovation Terracoin will slowly crumble into nothing.

I have spent too much time and effort rebuilding the community to let that happen.  I'll have news in the Weekly Update on Thursday.  I usually post it early on slack so that people can proof read it, and put in suggestions.

Thanks!

[bitrain]

I have spent too much time and effort rebuilding the community to let that happen.

 Yeah, that's very true. The newborn TRC is your personal accomplishment.  I hope you are considerable TRC whale yourself and you will take a fortune when the price will take off  .

[zx9r]

What will happen if suddenly all the miners decide to stop mining?

That scenario would only be possible if the TRC price goes under miner costs. If it is profitable to mine, someone will mine.

[clockuniverse]

What will happen if suddenly all the miners decide to stop mining?

That scenario would only be possible if the TRC price goes under miner costs. If it is profitable to mine, someone will mine.

That is a really good point!  With merge mining TRC is always profitable to mine.

[clockuniverse]

@clockuniverse, can you add the Dash Governance Proposal link in the first page? So everyone can easily see this.

I meant to ask about this earlier, but I had too many things to quote.  The DASH governance implementation is in the road map on the OP.  Is that what you mean?

[hanzac]

@clockuniverse, can you add the Dash Governance Proposal link in the first page? So everyone can easily see this.

I meant to ask about this earlier, but I had too many things to quote.  The DASH governance implementation is in the road map on the OP.  Is that what you mean?

I mean the details of the proposal, it's in a thread.

[clockuniverse]

@clockuniverse, can you add the Dash Governance Proposal link in the first page? So everyone can easily see this.

I meant to ask about this earlier, but I had too many things to quote.  The DASH governance implementation is in the road map on the OP.  Is that what you mean?

I mean the details of the proposal, it's in a thread.

Good idea.  I can write something up for that and post it there.

[hanzac]

Do you guys know who are mining TRC? Currently the network hash rate is 10P+. But according to my research, the pools list in the front page, they only mined very few blocks.
So it's becoming mysterious about the current miners. How can we know if the current mining situation is healthy (very distributed)?

If not, maybe the foundation should consider to setup the TRC pool. Previously, we have p2pool but now after merge-mined, p2pool is obsolete if I'm correct.

P.S.: If we are going to Hard Fork, most of the mining power should agree it, right? But now, the mining power is not revealed in light? It's a problem.

[SixOfFive]

If not, maybe the foundation should consider to setup the TRC pool. Previously, we have p2pool but now after merge-mined, p2pool is obsolete if I'm correct.

p2pool works quite well with TRC as you can primarily mine bitcoin and merge mine terracoin as well as other coins i.e. mergemining.com

[clockuniverse]

May 25th Update – Momentum

There has been a lot of worry that The Terracoin Foundation is loosing momentum and that nothing is going to get done in regards to implementing new DASH code, a website, or anything else.

I am here to put your minds at ease.

I have been trying to avoid hiring a freelancer and instead attracting developers who want to join the team on a promise of a better future for Terracoin.  We have gotten a lot of awesome people to volunteer to help with development, web design, guides, and translations.  All of these people have volunteered because they believe that implementing DASH’s masternodes and decentralized governance is the best way to improve Terracoin.

Sadly, the code needs updating as fast as possible because people think we are loosing momentum. 
Our two current developers have full time jobs, and families so they can’t spend the time needed to add the major features we want for Terracoin.  They are still members of the team, and will be available for troubleshooting and helping out once the testnet with the new code is up and running.

The only way to do this quickly is to hire a freelancer.

We are in final talks with a freelancer about adding the features we want.

I believe that once the DASH code is up and running more people will join the team and the current team will be revitalized.
We must keep momentum going and by putting down cold hard cash we can keep the momentum going.

At our current negotiations with the freelancer we only need about $5,000 USD or 2 BTC. (BTC changes every minute which is why we are using USD as the standard).

Please donate BTC as fast as possible so that we can get this show on the road!*  Thanks!

Bitcoin Donations address

14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc

Total Bitcoin Donated

.17194391 BTC

Terracoin General Donation Address

12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p

Total Terracoin Donated

34,656.89725820 TRC

Numbers!

30 days ago we were at 0.00001063 BTC (.0134 USD) and today we are at 0.00000718 BTC (.0170 USD.) In the past 7 days we have gone over the 2 cent (USD) price a bunch of times.  Next week I will only be reporting how many times we have gone over the 10 cent (USD) price.
We are ranked 297 on coinmarketcap with a market cap of $339,490 USD.  Last week our market cap was $470,252 USD.
Source: http://coinmarketcap.com/currencies/terracoin/

* The only reason I continue to run The Terracoin Foundation is because I truly believe that Terracoin will one day be the best cryptocoin out there, instead of just a minor altcoin.  It will take a lot of hard work, change, and community input but it will happen.  Implementing the features we are talking about is the second step (the first step being implementing merge mining and Dark Gravity Wave) in updating Terracoin to the coin it needs to be.  Gathering a strong team which is paid a realistic amount is why decentralized governance and masternodes is so important.  I believe in this so strongly that I have already told the freelancer that if we don’t get enough donations I will cover the costs.
I am not some champagne drinking rich guy either.
I just know this is the right thing to do for Terracoin even if it clears out my savings.

[samspaces]

I'd think it has to be possible to find a developer that believes in the project and will do it for a masternode or 2.
For a seasoned coder, I don't the coding job is that hard to do. Tedious maybe, but not hard at all, since all the code is on Github.

[hanzac]

I suggest we can ask for how much TRC needed for the developer to do the job. Because 2BTC is quite much at current price, and it will roughly be about 300000 TRC at the moment. If the developer can agree on 100000 TRC, maybe it will be easier. After the code update, TRC will rise and he will have good return.

[clockuniverse]

Watch out for these guys trying to take over the name.

https://bitcoingarden.org/forum/index.php?topic=15005.0

Don't fall for their tricks!

[hanzac]

Why people like this name? Especially the Koreans. I know Teracoin & Terra both Korean source. And premined.
Hope they will not launch on Polo ...

Ps, they also have fancy website and huge money supply! We shall improve our marketing to keep our reputation. If people get cheated, this brand will lose in value.

[IconFirm]

What out for these guys trying to take over the name.

https://bitcoingarden.org/forum/index.php?topic=15005.0

Don't fall for their tricks!

It's another Yoshit coin - therefore a scam coin. It'll be gone in a couple of months, once they've stolen everyones deposits & put the wallet in "maintanance".

[tehMoonwalker]

another dead and or abbandon coin?

[clockuniverse]

another dead and or abbandon coin?

This Terracoin is alive and well.  We are just about to implement DASH's masternode and decentralized governance code.

The other terracoin(s) is probably a yobits scam.

Remember it has to be TRC to be legit.  Not TER, or TERRA(TER has been used twice now for scam coins).

Why people like this name? Especially the Koreans. I know Teracoin & Terra both Korean source. And premined.
Hope they will not launch on Polo ...

Ps, they also have fancy website and huge money supply! We shall improve our marketing to keep our reputation. If people get cheated, this brand will lose in value.

The one with the fancy website already imploded months ago.

[hanzac]

Why people like this name? Especially the Koreans. I know Teracoin & Terra both Korean source. And premined.
Hope they will not launch on Polo ...

Ps, they also have fancy website and huge money supply! We shall improve our marketing to keep our reputation. If people get cheated, this brand will lose in value.

The one with the fancy website already imploded months ago.

Would you please put some red color warning bar, tell to the potential TRC user to be cautious about the other scam coins under similar names. This will be helpful I think.

[elelegzet]

 Btw, is it still possible to take over Cryptsy wallet? Seems like some things are happening: http://cryptsyreceivership.com. 2'329'813.99 are №53 @ Exhibit A (http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/CCF_000148.pdf). @realMicroGuy got Exhibit B and taking away those coins to appropriate communities (https://www.gldtalk.org/index.php?topic=3789.0). Maybe something similar might happen to TRC? Did anyone made a research?