MC2: A cryptocurrency based on a hybrid PoW/PoS system

[_ingsoc]

I still think this is one of the best crypto implementations possible.

However the issue stands that the longer it takes to implement, the more the alt-coin market is saturated by fly-by-night coins and other coins that disappear.

Is there anything that someone can do without any coding experience at all to help the development? Maybe donating some LTC?

There are a few things we need on a non-technical side. Good graphic design is one. You can send an e-mail to volunteer {dot} mc2 {at} gmail {dot} com if you have anything specific in mind. TacoTime mentioned in his first post donation addresses to answer your question about LTC. However, we are planning a crowdfunding opportunity to make the development happen. There is one more planned cycle to make some theoretical improvements to the paper, which TacoTime will upload. After that we'll get the ball rolling!

How is the PoS system coming? Choices here are really delicate. You can easily fuck up in a subtle way. I would not start work on it until the final system has been peer reveiwed. I suggest myself, Killerstorm, iddo, Colbee and Meni Rosenfeld as likely sources of quality feedback. If you come up with something that everyone agrees is workable, do not change it. There is a butterfly effect with these systems. Small changes often introduce exploits for attackers.

Ideally the whitepaper should be as detailed on the PoS system as possible.

Also the people working on bitfreak's idea are pretty smart. Freicoin too (deluded but smart). If you can get their opinions that would be great.

I'm not trying to be discouraging. I just want this to work, then I can finally end my PoS crusade. It has been almost 2 fucking years now. I'm very eager for victory.

I can't speak for TacoTime, because I just do the dumb person stuff, but if you can convince any of those people you mentioned or anyone experienced to take a technical interest in this project and actually make changes to the paper for peer review, that would be a huge push forward for Netcoin in helping him carry the burden. Regardless of where you stand on cryptocurrencies that aren't Bitcoin, I firmly believe the ideas introduced in the whitepaper are necessary to the collective diffusion of innovations in this ecosystem we've built. That, of course, I think is linked to human progress, which is big and lofty, but it's what I believe.

If anyone with influence in this community can help bring smart people to contribute to TacoTime's ideas with the technical advancement of the whitepaper (prior to any development), I will do whatever I can to make sure those ideas come together and have the resources to become real.

[1714812667]

1714812667

[hennessyhemp]

I would love to see a quality point of sale system.  I would also like this to be released onto trading platforms like BTC-E or perhaps get the buttercoin project to take a look at adding this to their trading engine.  I think this project has the potential to be big.  I am mining digital coin currently because until this is online, it is clearly the next big coin due to ease of adoption.  Both Digitalcoin and Netcoin have better names for psychological adoption by the masses than even bitcoin.  Bitcoin will be the gold standard, but these could easily become as big or bigger than litecoin with expedience.  I look at it like this, if Novacoin is more valuable than Litecoin right now, DGC and MC2 will be two very strong contenders in the future.  I may have been wrong about Bitbar developing into something more, but Digitalcoin has some serious potential, simply due to rapid adoption, and this project could do the exact same thing, but without pre-mining.  Let the community donations and fees be enough for bounties and rewards...none of this we pre-mined one million coins because we figured no one would notice, etc.  And my only other gripe with DGC, if you say you're going to release the coin at a "1" difficulty...then don't go back on your word and release it to yourself lower than that...this community will catch you, and it will destroy the potential value.  

I think marketing this coin ahead of time via crowd-funding...especially target miners...similar to ASIC advertisements.  Between that and signature giveaways (make one nicer looking than the current spam...like the one I'm carrying currently that looks like crap, we want netcoin to be appealing).  Looking for the next big coin in cyberspace...join the 10,000 netcoin giveaway, mining starts July 4th...or whatever.

[tacotime]

How is the PoS system coming? Choices here are really delicate. You can easily fuck up in a subtle way. I would not start work on it until the final system has been peer reveiwed. I suggest myself, Killerstorm, iddo, Colbee and Meni Rosenfeld as likely sources of quality feedback. If you come up with something that everyone agrees is workable, do not change it. There is a butterfly effect with these systems. Small changes often introduce exploits for attackers.

Ideally the whitepaper should be as detailed on the PoS system as possible.

Also the people working on bitfreak's idea are pretty smart. Freicoin too (deluded but smart). If you can get their opinions that would be great.

I'm not trying to be discouraging. I just want this to work, then I can finally end my PoS crusade. It has been almost 2 fucking years now. I'm very eager for victory.

Slowly.  I want something that actually works well.  With the next whitepaper I'll give a supplementary section that includes the specifications in point form for easier audit.

[tom_o]

I would love to see a quality point of sale system. 

Proof of Stake not Point of Sale

[Luckybit]

Can Netcoin be the first coin to implement colored coins? They claim in the article that Scrypt based crypto-currencies aren't interested. Someone should contact him and let him know about Netcoin.

He expects native colored coin support in an altcurrency before bitcoin. However, the major Scrypt-based currencies aren’t looking at it. “We may look into providing some color coin implementation directly in the Litecoin protocol, but nothing is planned right now,“ said Litecoin creator Charles Lee.

http://www.coindesk.com/colored-coins-paint-sophisticated-future-for-bitcoin/

[_ingsoc]

Hey everyone,

Thought I'd share some logo work. I'm not a graphic designer, so this is a very v0.01 type design. I've linked the SVG (Inkscape) if anyone is interested in building on this. The biggest issue is any logo has to work on some level at 16x16, so that's worth a thought. If you want to iterate through some changes, send me a PM, so we don't flood the thread. Here's the SVG.

[zappa]

been checking this coin for a month now, this truly looks promising!

[_ingsoc]

Are people discussing in the cryptocat chat?

I've been in there a bit. People flow through the chat and I answer the questions I know how to answer. TacoTime visits the chat as well when he has the time.

[JessicaMILFson]

Hate to see this project stall. Taco, can you please give weekly updates, like what SunnyKing does?

[Luckybit]

Hey everyone,

Thought I'd share some logo work. I'm not a graphic designer, so this is a very v0.01 type design. I've linked the SVG (Inkscape) if anyone is interested in building on this. The biggest issue is any logo has to work on some level at 16x16, so that's worth a thought. If you want to iterate through some changes, send me a PM, so we don't flood the thread. Here's the SVG.

If these were in color and had blue in the background it would be perfect.

[RandyMagnum]

Hey everyone,

Thought I'd share some logo work. I'm not a graphic designer, so this is a very v0.01 type design. I've linked the SVG (Inkscape) if anyone is interested in building on this. The biggest issue is any logo has to work on some level at 16x16, so that's worth a thought. If you want to iterate through some changes, send me a PM, so we don't flood the thread. Here's the SVG.

If these were in color and had blue in the background it would be perfect.

A globe reminds me of Worldcoin. What about a bit more panache with the centerpiece than a bold/italic letter? Just critiquing, not trying to dent any feelings; I can respect the disclaimer of the "v0.01."

[karsy]

Hey everyone,

Thought I'd share some logo work. I'm not a graphic designer, so this is a very v0.01 type design. I've linked the SVG (Inkscape) if anyone is interested in building on this. The biggest issue is any logo has to work on some level at 16x16, so that's worth a thought. If you want to iterate through some changes, send me a PM, so we don't flood the thread. Here's the SVG.

If these were in color and had blue in the background it would be perfect.

A globe reminds me of Worldcoin. What about a bit more panache with the centerpiece than a bold/italic letter? Just critiquing, no harm, no foul.

Maybe a globe featuring the internet. Where internet nodes mark what is "land", in a black and darkblue theme.

[Cryptoin]

What about something cleaner.  I think all of these alt coin logos are getting too complex. I did a quick mock up below of an idea I had that plays off an ampersat (@).  I'm sure someone with actual graphic design skills could run with this concept if they like it.

[digicoin]

Any update?

[Mr.V]

Hey everyone,

Thought I'd share some logo work. I'm not a graphic designer, so this is a very v0.01 type design. I've linked the SVG (Inkscape) if anyone is interested in building on this. The biggest issue is any logo has to work on some level at 16x16, so that's worth a thought. If you want to iterate through some changes, send me a PM, so we don't flood the thread. Here's the SVG.

I like it but maybe instead of a globe in the backround you can put a web looking design representing the net

[_ingsoc]

Any update?

The next iteration of the whitepaper is almost done. If all goes well after that we can open the crowdfund and get developers ready.

[karsy]

Any update?

The next iteration of the whitepaper is almost done. If all goes well after that we can open the crowdfund and get developers ready.

Good to hear

[JessicaMILFson]

Any update?

The next iteration of the whitepaper is almost done. If all goes well after that we can open the crowdfund and get developers ready.

Are you in contact with Taco or working on the whitepaper as well?

[Luckybit]

Any update?

The next iteration of the whitepaper is almost done. If all goes well after that we can open the crowdfund and get developers ready.

Are you in contact with Taco or working on the whitepaper as well?

I believe the peer review phase is coming. Taco did mention he is working on the whitepaper and based on the time frame it would explain why he has been quiet.

My guess is the whitepaper will be presented within 2 weeks and then peer reviewed.
Then of course the crowd funding phase comes after that, then the development phase.

Let us have faith in the integrity and work ethic of Tacotime. If he has not posted the whitepaper within 2 weeks then we should begin to worry.

[_ingsoc]

I believe the peer review phase is coming. Taco did mention he is working on the whitepaper and based on the time frame it would explain why he has been quiet.

My guess is the whitepaper will be presented within 2 weeks and then peer reviewed.
Then of course the crowd funding phase comes after that, then the development phase.

Let us have faith in the integrity and work ethic of Tacotime. If he has not posted the whitepaper within 2 weeks then we should begin to worry.

Technically this is the peer review stage. There have been some great points discussed here that were incorporated in v0.03 and v0.031. The same goes for the next version, but the idea is to get it to a technical point where it's ready to move into the crowdfunding/development phase. Some of the other stuff talked about is auxiliary to that process. For example, there's been talk about services and mining bonds, and so on, all of which are important ideas, but a bit beyond the scope (and budget) of the actual coin software. So that would be a good community effort down the track.