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Question: [CLOSED] 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

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Author Topic: [ANN] 42-coin Development Discussion Thread  (Read 68095 times)
IMZ
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April 06, 2018, 08:10:04 AM
 #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?

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.
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IMZ
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April 06, 2018, 08:10:53 AM
 #1242

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!!
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April 06, 2018, 09:03:56 AM
 #1243

Yup!!, Lasergun is one smart cookie!!!! 
cryptocommoner
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April 06, 2018, 02:41:05 PM
 #1244

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!
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April 08, 2018, 01:48:07 PM
 #1245

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.
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April 08, 2018, 08:42:29 PM
 #1246

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
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April 08, 2018, 08:44:21 PM
 #1247

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
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April 09, 2018, 02:00:03 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.

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.
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April 10, 2018, 03:27:29 AM
 #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.

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.
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April 11, 2018, 01:48:10 PM
 #1250

  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
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April 12, 2018, 12:11:06 AM
 #1251

 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!
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April 12, 2018, 02:54:53 PM
 #1252

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
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April 12, 2018, 11:39:55 PM
 #1253

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?
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April 15, 2018, 01:53:15 PM
 #1254

BTC is rising again! Let's hope the same for 42! Smiley
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April 16, 2018, 01:29:05 AM
 #1255

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


Great Page One on Coinmarketcap at this second: almost all green
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April 20, 2018, 04:35:50 AM
 #1256

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'
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April 21, 2018, 12:24:44 PM
 #1257

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
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April 26, 2018, 01:56:32 AM
 #1258

The Telegram group is rather quiet, but our volume is okay.

There's no two ways about it all: cryptos are still 'working through' the backlash of the 2017 spike. Bitcoin rose well above $9000 the other day, and will (IMHO) probably creep up to ten thousand quite soon; but the energy that drove cryptos last year will take some time yet to return in force. Patience, us!

[Spoke again to 42 Cafe guy in Melbourne. Let's wait and see.]

IndiaMikeZulu

P.s.: if you are interested, come and put some volume on Tradesatoshi
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April 29, 2018, 08:27:54 PM
 #1259

'It scarcely sounds believable in this day and age but, as things stand, as many as a million TSB customers are still locked out of their bank accounts this weekend, and the firm’s calamitous IT meltdown is about to enter its second week.'  Can you spell 'd y s t o p i a'?  https://www.telegraph.co.uk/business/2018/04/28/tsbs-crisis-worse-avoidable/
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April 30, 2018, 09:43:05 PM
 #1260

Who has not seen this section yet?

H O W   T O   C O N T R I B U T E ?

Translate the first post of this thread, post it in local section, and keep updated.

• Support listing on localbitcoincash.org:
In case of listing there, users will be able to exchange 42 for other cryptocurrencies and buy/sell 42 with local fiat currencies.
They are ready to add us for 2 BCH only. If you are interested, send desirable amount of BCH to this address: 183WBGyZbNGaZ7ywud2SnNH1r3KaL7DiYa. Thank You.

• Help to add 42 on exchanges:
  mercatox.com: https://mercatox.com/coins/list - total 72 votes
  c-cex.com: https://c-cex.com/?id=vote&coin=42 or send BTC to: 1Ev5aZNiKvFpVLC1evtuGueWFsnSN5HoBj
  coinscontrol.com: https://www.coinscontrol.com/Vote or send BTC to: 1FkLxnFEHFxU5nVk7dFbZY9RsQMxoNtMKf
  bittrex.com
  poloniex.com

Vote for 42 on freewallet.org: 1) search for 42; 2) vote for idea "42-coin add".

For developers. Work for bounties:
1. Android 42-Qt wallet. Find the cause of the app crash (details in PM) - 700 USD in 42
2. PoS Mod. In the generation should participate inputs with less than 1 CoinDay, or you need to find the way how to accelerate the process of inputs maturation - 1500 USD in 42
3. Anonymity improvement. Ring signature implementation, example on Python: https://gist.github.com/badmofo/92a0aa7c305b44ed1de8 - 5200 USD in 42

• Make a donation:
  For Bounty: 4SZt2wkjzTvhMN5CfNbMNzCt4e4dbY79V9
  For Development: 4JtMuCaWGKwoi1HhMcsMJS1UpifrWARh6o
  To community fund (spendable via consensus): 4VsEs7wqRpoiTpmqViWRtse1P3CNgvBw4g
  Anonymous donate: 5GRHyC9rEvhzhaixWm1ncqk5SpHbBUEmYzQvu2zcnWjj41kNTTqCLKp7Vewnw3Xsr5bpV7EDHuA9PFn QrJh6VQ7StAHngd4aeud
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