Bitcoin Forum
May 21, 2018, 09:20:46 PM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Poll
Question: Round 2. Should we increase the minimum recommended tx fee in order to motivate PoW-miners (this will also increase the deflation rate)?
1) change to 0.00001000
2) leave the  0.00000001

Pages: « 1 ... 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 [63] 64 65 66 67 »
  Print  
Author Topic: [ANN] 42-coin Development Discussion Thread  (Read 67370 times)
cryptocommoner
Jr. Member
*
Offline Offline

Activity: 112
Merit: 5


View Profile
April 05, 2018, 02:47:24 PM
 #1241

https://www.coindesk.com/ethereum-asics-means-whats-next/

One thing about 42 that really interests me is the way that it 'straddles' POW and POS. I see articles about ASIC-resistance and hard forks to outflank those, and [edit ETH's] intentions to go 'full POS.' So, do I understand correctly that we are nicely positioned -- certainly being deflationary -- to manoeuvre around these issues in coming years?

I'm trying to wrap my head around the PoW + PoS model.  All of the coins have been mined already and the PoW model utilizes miners.  The PoS utilizes forgers.  Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers? 

The deflationary model is inherent in the name, 42-coin, where no new coins will be mined.  ETH is pushing to utilize CASPER to go full PoS to be 'greener' and decrease energy requirements.  This will not change them from being inflationary and new ETH will continue to be created.

Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1526937646
Hero Member
*
Offline Offline

Posts: 1526937646

View Profile Personal Message (Offline)

Ignore
1526937646
Reply with quote  #2

1526937646
Report to moderator
1526937646
Hero Member
*
Offline Offline

Posts: 1526937646

View Profile Personal Message (Offline)

Ignore
1526937646
Reply with quote  #2

1526937646
Report to moderator
Lasergun
Legendary
*
Offline Offline

Activity: 943
Merit: 1050



View Profile WWW
April 05, 2018, 10:04:59 PM
 #1242

https://www.coindesk.com/ethereum-asics-means-whats-next/

One thing about 42 that really interests me is the way that it 'straddles' POW and POS. I see articles about ASIC-resistance and hard forks to outflank those, and [edit ETH's] intentions to go 'full POS.' So, do I understand correctly that we are nicely positioned -- certainly being deflationary -- to manoeuvre around these issues in coming years?

Existing PoS models are not suitable to go to full PoS due to 42 very limited supply and 0 block reward, only PoS based on CoinAge is working, but very slow and it can not be the main method of transaction confirmation. Low transaction costs work in 42 as a protection mechanism against ASICs. With the current tx fee, 42 mining will not be profitable until the price is $100m+ per one coin.
Lasergun
Legendary
*
Offline Offline

Activity: 943
Merit: 1050



View Profile WWW
April 05, 2018, 10:08:36 PM
 #1243

Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers? 
Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?

The fees are not divided. 42 uses Proof-of-Work and Proof-of-Stake block generation methods, blocks in 42 blockchain are random, either PoW or PoS. Thus, transaction fees can either go to PoW miner or be destroyed by PoS miner. We can't predict what exactly will happen with the fees.
IMZ
Legendary
*
Offline Offline

Activity: 1456
Merit: 1000


View Profile
April 06, 2018, 08:10:04 AM
 #1244

https://www.coindesk.com/ethereum-asics-means-whats-next/

One thing about 42 that really interests me is the way that it 'straddles' POW and POS. I see articles about ASIC-resistance and hard forks to outflank those, and [edit ETH's] intentions to go 'full POS.' So, do I understand correctly that we are nicely positioned -- certainly being deflationary -- to manoeuvre around these issues in coming years?

Existing PoS models are not suitable to go to full PoS due to 42 very limited supply, only PoS based on CoinAge is working, but very slow and it can not be the main method of transaction confirmation. Low transaction costs work in 42 as a protection mechanism against ASICs. With the current tx fee, 42 mining will not be profitable until the price is $100m+ per one coin.

Thanks for your patience, Laser. My outfit -- you surely know some of them -- spend enormous effort analysing types of (rare) cryptos. I have devved at length on two.

Shall keep reading. (Found a 42 history that clarifies a lot of stuff, like the re-launch.) But the 'recipe' here is exciting.

Groestl: Fa9Fo3YL6PFgJ7fySNEYyVJ3CpVEpMNboY
IMZ
Legendary
*
Offline Offline

Activity: 1456
Merit: 1000


View Profile
April 06, 2018, 08:10:53 AM
 #1245

Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers? 
Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?

The fees are not divided. 42 uses Proof-of-Work and Proof-of-Stake block generation methods, blocks in 42 blockchain are random, either PoW or PoS. Thus, transaction fees can either go to PoW miner or be destroyed by PoS miner. We can't predict what exactly will happen with the fees.

Whoo!!

Groestl: Fa9Fo3YL6PFgJ7fySNEYyVJ3CpVEpMNboY
sirslayer
Hero Member
*****
Offline Offline

Activity: 495
Merit: 500


chickens and cryptos


View Profile
April 06, 2018, 09:03:56 AM
 #1246

Yup!!, Lasergun is one smart cookie!!!! 
cryptocommoner
Jr. Member
*
Offline Offline

Activity: 112
Merit: 5


View Profile
April 06, 2018, 02:41:05 PM
 #1247

Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers? 
Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?

The fees are not divided. 42 uses Proof-of-Work and Proof-of-Stake block generation methods, blocks in 42 blockchain are random, either PoW or PoS. Thus, transaction fees can either go to PoW miner or be destroyed by PoS miner. We can't predict what exactly will happen with the fees.

Thank you for the quick reply!  It's very interesting that all of the blocks are random.  I think this adds to the elusiveness of this coin.  You will never know what block you will have your transaction verified through and who will be verifying it!
cryptocommoner
Jr. Member
*
Offline Offline

Activity: 112
Merit: 5


View Profile
April 08, 2018, 01:48:07 PM
 #1248

I have been doing more homework on this coin simply because it fascinates me.  The coin is very similar to BTC with the added PoS aspect.  One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

I was directed toward this link: https://bitcoin.stackexchange.com/questions/20635/what-is-42coin-why-it-is-highly-priced

specifically, this comment:
Quote
@vi.su. Er, no: 42*10^14 / 21*10^6*10^8 = 2 in my good ol' rusty calculator. So total amount of 42coin's lowest denomination pieces (what would be a good word for it? babelfishies??) is exactly double that of bitcoin's lower denomination

So, basically, 42 is double to total supply according to this comment (and my own math).  I think that people would get more on board with this project if people understood this.  BTC is purely PoW and half the total supply of 'sats' compared to 'babelfishies'.  I am clearly not sure what to call it.

BTC total supply is: 21,000,000 to the 8th decimal is 2,100,000,000,000,000 sats.

42-coin total supply: 42 to the 14th decimal is 4,200,000,000,000,000 [to be determined]


On another note:

I see the roadmap has testing with this thread linked: https://bitcointalk.org/index.php?topic=2480007.0

Can you update us on the status of this test that's been going on for over 6 months.  I see it is being traded on coinscontrol exchange (infrequently), but cannot really find much other information regarding the coin or its current utility.
Lasergun
Legendary
*
Offline Offline

Activity: 943
Merit: 1050



View Profile WWW
April 08, 2018, 08:42:29 PM
 #1249

I have been doing more homework on this coin simply because it fascinates me.  The coin is very similar to BTC with the added PoS aspect.  One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

42 always had the same 8 digit precision as BTC:

https://github.com/42-coin/42/blob/master/src/qt/bitcoinunits.cpp#L63
https://github.com/42-coin/42OLD/blob/master/src/qt/bitcoinunits.cpp#L63


On another note:

I see the roadmap has testing with this thread linked: https://bitcointalk.org/index.php?topic=2480007.0

Can you update us on the status of this test that's been going on for over 6 months.  I see it is being traded on coinscontrol exchange (infrequently), but cannot really find much other information regarding the coin or its current utility.

This is a sponsor's project, developing independently. Currently, there is no much success there due to some unresolved difficulties related to the direct use of cryptocurrencies in business.
Than-Ioan
Member
**
Offline Offline

Activity: 95
Merit: 10


View Profile
April 08, 2018, 08:44:21 PM
 #1250

I have been doing more homework on this coin simply because it fascinates me.  The coin is very similar to BTC with the added PoS aspect.  One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

I was directed toward this link: https://bitcoin.stackexchange.com/questions/20635/what-is-42coin-why-it-is-highly-priced


This link is about the old 42...
cryptocommoner
Jr. Member
*
Offline Offline

Activity: 112
Merit: 5


View Profile
April 09, 2018, 02:00:03 PM
 #1251

I have been doing more homework on this coin simply because it fascinates me.  The coin is very similar to BTC with the added PoS aspect.  One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

42 always had the same 8 digit precision as BTC:

https://github.com/42-coin/42/blob/master/src/qt/bitcoinunits.cpp#L63
https://github.com/42-coin/42OLD/blob/master/src/qt/bitcoinunits.cpp#L63


On another note:

I see the roadmap has testing with this thread linked: https://bitcointalk.org/index.php?topic=2480007.0

Can you update us on the status of this test that's been going on for over 6 months.  I see it is being traded on coinscontrol exchange (infrequently), but cannot really find much other information regarding the coin or its current utility.

This is a sponsor's project, developing independently. Currently, there is no much success there due to some unresolved difficulties related to the direct use of cryptocurrencies in business.

I have been doing more homework on this coin simply because it fascinates me.  The coin is very similar to BTC with the added PoS aspect.  One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

I was directed toward this link: https://bitcoin.stackexchange.com/questions/20635/what-is-42coin-why-it-is-highly-priced


This link is about the old 42...

Welp... open mouth, insert foot  Undecided

Looking into the history I imagine must be limited to when this ANN thread was started.  I'm sorry for the misinformation posted. 

Also, thanks for the update on the sponsored project.  I hope the difficulties get resolved.
IMZ
Legendary
*
Offline Offline

Activity: 1456
Merit: 1000


View Profile
April 10, 2018, 03:27:29 AM
 #1252

I have been doing more homework on this coin simply because it fascinates me.  The coin is very similar to BTC with the added PoS aspect.  One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

I was directed toward this link: https://bitcoin.stackexchange.com/questions/20635/what-is-42coin-why-it-is-highly-priced


This link is about the old 42...

Thanks for your patience, Than-Ioan. I also am still gaining a clear insight into 42's specs, but I'm happy to puddle along in the meantime. The Telegram channel is getting a little volume.

And Nova Exchange? Heck, I don't know. But am still regularly checking for news there.

Groestl: Fa9Fo3YL6PFgJ7fySNEYyVJ3CpVEpMNboY
Than-Ioan
Member
**
Offline Offline

Activity: 95
Merit: 10


View Profile
April 11, 2018, 01:48:10 PM
 #1253

  42 rank is 999!!! Angry right now at https://coinmarketcap.com/. Market Cap $932,567 USD 135 BTC.  Volume (24h) $80 USD 0.01 BTC!!! the coin shrink more and more..I sold all my coins right now ,maybe next month I will buy again if the coin will be even cheaper  Grin
IMZ
Legendary
*
Offline Offline

Activity: 1456
Merit: 1000


View Profile
April 12, 2018, 12:11:06 AM
 #1254

 42 rank is 999!!! Angry right now at https://coinmarketcap.com/. Market Cap $932,567 USD 135 BTC.  Volume (24h) $80 USD 0.01 BTC!!! the coin shrink more and more..I sold all my coins right now ,maybe next month I will buy again if the coin will be even cheaper  Grin

Whoa! We might not get the 42 Bar and Cafe in Melbourne, Australia, to accept 42-coin, but the owner already holds Bitcoin, Litecoinm and Ethereum!

Groestl: Fa9Fo3YL6PFgJ7fySNEYyVJ3CpVEpMNboY
cryptocommoner
Jr. Member
*
Offline Offline

Activity: 112
Merit: 5


View Profile
April 12, 2018, 02:54:53 PM
 #1255

Just to enlighten some people that may not know (I didn't) that 42-coin's lowest unit of value has a name.  Instead of satoshis (like BTC) they are dents!  http://hitchhikers.wikia.com/wiki/Arthur_Dent

I learned this from the 42-coin discussion telegram group Smiley
IMZ
Legendary
*
Offline Offline

Activity: 1456
Merit: 1000


View Profile
April 12, 2018, 11:39:55 PM
 #1256

https://www.facebook.com/42cafebar/

I've spoken to the owner about accept Forty Two. We'll have to provide energetic help -- and I guess we'd suggest that they accept a range of currencies. (The owner already holds Bitcoin, Ether, and Litecoin.)

Could a couple of folks post short messages on their media?

Groestl: Fa9Fo3YL6PFgJ7fySNEYyVJ3CpVEpMNboY
Than-Ioan
Member
**
Offline Offline

Activity: 95
Merit: 10


View Profile
April 15, 2018, 01:53:15 PM
 #1257

BTC is rising again! Let's hope the same for 42! Smiley
IMZ
Legendary
*
Offline Offline

Activity: 1456
Merit: 1000


View Profile
April 16, 2018, 01:29:05 AM
 #1258

BTC is rising again! Let's hope the same for 42! Smiley


Great Page One on Coinmarketcap at this second: almost all green

Groestl: Fa9Fo3YL6PFgJ7fySNEYyVJ3CpVEpMNboY
IMZ
Legendary
*
Offline Offline

Activity: 1456
Merit: 1000


View Profile
April 20, 2018, 04:35:50 AM
 #1259

https://www.novaexchange.com/news/

Nova under new management

You gotta accept their new Terms of Service right now if you want to keep your existing account.

Update

'2018-04-21 08:25 - Nova Exchange, now exclusive for previous users
Only the users that was able to register before we stopped registration in the end of 2017 and who has also accepted the new ToS of the new owners are now able to login. New owners will decide when to enable deposits, new user registration and start listing new coins. We hope you will enjoy the service from the new management and support team! Thank you for staying with Nova Exchange! /Good bye from old management and support team'

Groestl: Fa9Fo3YL6PFgJ7fySNEYyVJ3CpVEpMNboY
hoangnhungg555
Jr. Member
*
Offline Offline

Activity: 34
Merit: 0


View Profile
April 21, 2018, 12:24:44 PM
 #1260

How do u know? He may have more money than u but dont wish to disclose his finances to strangers on the internet forums. If u wanna know how much money he has
Pages: « 1 ... 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 [63] 64 65 66 67 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!