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Author Topic: [ANN] 0pticoin (0TC) - Release Date: May 15, 2013 - Postponed ~1 month [ANN]  (Read 18697 times)
JimmyFL
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May 08, 2013, 03:21:31 PM
 #121

I want to apologize to everyone, but I am going to postpone launch for exactly 1 week (May 15 @ 6pm GMT).

The reason for doing this is I am currently working on my previously mentioned idea of attempting to limit blocks which can be submitted during a specified timeframe at a specified difficulty in relation to total network hashrate (this should not only prevent large hashrate miners from raping the coin, but will also help to protect the network from 51% attack by preventing the user from being able to gain 51% control).

Lower hashrate miners should not be affected (other than the ability to be able to actually obtain coins) while higher hashrate miners will only be affected while the difficulty is lower and the network hashrate is smaller. I expect as the difficulty/network hashrate increases that cpu-based miners will probably stray away anyway to whatever is the newest low-difficulty coin at that time.

I am also taking this extra week to finish developing http://crypto-etc.com which is where I will host the exchange, pool and forum. This is also where the client downloads will be hosted (except for the source code which will remain on my github).

And the final reason for postponing this one more week is to add/test more features which I am adding, including:

  • Proof of Stake implementation
  • Allow mining at decreased difficulty if time since last block is greater than "x" minutes

I am also open to suggestions on other features.

I thank you for your patience and once again I apologize for the inconvenience to those of you who have been watching/waiting for 6pm to roll around, but I promise it will be the worth the wait.

+1

This is the first time I have really an impression that the OP is doing a proper work...

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NickCoin
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May 08, 2013, 03:21:38 PM
 #122

•difficulty re-target: once every ~30 minutes

Instead of time based retarget, why not make it dynamic diff retarget like BitBar - that seems to work a lot better at stopping pump and dump miners.
dokosten
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May 08, 2013, 03:24:45 PM
 #123

I want to apologize to everyone, but I am going to postpone launch for exactly 1 week (May 15 @ 6pm GMT).

The reason for doing this is I am currently working on my previously mentioned idea of attempting to limit blocks which can be submitted during a specified timeframe at a specified difficulty in relation to total network hashrate (this should not only prevent large hashrate miners from raping the coin, but will also help to protect the network from 51% attack by preventing the user from being able to gain 51% control).

Lower hashrate miners should not be affected (other than the ability to be able to actually obtain coins) while higher hashrate miners will only be affected while the difficulty is lower and the network hashrate is smaller. I expect as the difficulty/network hashrate increases that cpu-based miners will probably stray away anyway to whatever is the newest low-difficulty coin at that time.

I am also taking this extra week to finish developing http://crypto-etc.com which is where I will host the exchange, pool and forum. This is also where the client downloads will be hosted (except for the source code which will remain on my github).

And the final reason for postponing this one more week is to add/test more features which I am adding, including:

  • Proof of Stake implementation
  • Allow mining at decreased difficulty if time since last block is greater than "x" minutes

I am also open to suggestions on other features.

I thank you for your patience and once again I apologize for the inconvenience to those of you who have been watching/waiting for 6pm to roll around, but I promise it will be the worth the wait.

Great news actually!

I was really early in mining YaCoin today. Had 3 machines with 550 KH\s each running, but none of them got more than 1-2 accepted blocks because of some higher hashrate miners joining the network and blocking all low-medium hash miners.. Sad So I hope you can find a solution which works for us low hashers aswell!

Good luck! Smiley
e521
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May 08, 2013, 03:25:55 PM
 #124

also yac was launched today...

Great news actually. Smiley

I was really early in mining YaCoin today. Had 3 machines with 550 KH\s each running, but none of them got more than 1-2 accepted blocks because of some higher hashrate miners joining the network and blocking all low-medium has miners.. Sad So I hope you can find a solution which works for us low hashers aswell!

Good luck! Smiley

LOL  Huh
I guess you have a special miner for gpus...

c4n10
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May 08, 2013, 03:46:53 PM
 #125

Gutted but I'm glad you are taking the time to get it right, so bravo

I appreciate your support! Thank you!

Excellent, is this going to be the first coin having and exchange at the first day? How about pools then?

As mentioned earlier there will be a pool on the site at http://crypto-etc.com

But I also suspect that there will be one or two p2pool gurus who will have pools set-up within the first or two after launch (that's the way it usually goes)...

when you release.. will you please release the windows binaries at the same time, so we can all get a "fair" chance <3

I will indeed. At the time of release there will be linux and windows binaries as well as the source code so people can compile their own as well.

Wise move, well done!

.b

Thank you!

+1

This is the first time I have really an impression that the OP is doing a proper work...

Smiley

Instead of time based retarget, why not make it dynamic diff retarget like BitBar - that seems to work a lot better at stopping pump and dump miners.

I prefer the time-based re-targeting as it makes the coin more reliable as a currency. If I run with a dynamic re-targeting system confirmation times for transactions wouldn't be as reliable making it not a viable currency to use for goods/services which are extremely time-dependent.

Great news actually!

I was really early in mining YaCoin today. Had 3 machines with 550 KH\s each running, but none of them got more than 1-2 accepted blocks because of some higher hashrate miners joining the network and blocking all low-medium hash miners.. Sad So I hope you can find a solution which works for us low hashers aswell!

Good luck! Smiley

Thank you for your support! I will do my best!

also yac was launched today...

Great news actually. Smiley

I was really early in mining YaCoin today. Had 3 machines with 550 KH\s each running, but none of them got more than 1-2 accepted blocks because of some higher hashrate miners joining the network and blocking all low-medium has miners.. Sad So I hope you can find a solution which works for us low hashers aswell!

Good luck! Smiley

LOL  Huh
I guess you have a special miner for gpus...

Actually, I don't think there are any gpu miners for YAC yet (unless YAC's creator wrote one that he has not released to the public yet).

The large hashrate miners on YAC right now are probably botnet owners...
perhan007
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May 08, 2013, 03:52:06 PM
 #126

Will the release be in an hour? I'm not sure if I understood GMT correctly Wink
Buffer Overflow
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May 08, 2013, 03:59:14 PM
 #127


remember satoshi took days just to mine the genesis block
No he didn't. Who on earth told you that rubbish?

c4n10
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May 08, 2013, 04:00:00 PM
 #128

Will the release be in an hour? I'm not sure if I understood GMT correctly Wink

It was going to be in 2 hours, but I have postponed release for 1 week. I will update the description to reflect this change and the reasoning why.
Lowlander
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May 08, 2013, 04:03:51 PM
 #129

Will the release be in an hour? I'm not sure if I understood GMT correctly Wink

It was going to be in 2 hours, but I have postponed release for 1 week. I will update the description to reflect this change and the reasoning why.

oh Sad
Passion_ltc
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May 08, 2013, 04:05:46 PM
 #130


c4n10
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May 08, 2013, 04:09:43 PM
 #131



LOL, don't see that one often...
champbronc2
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May 08, 2013, 06:19:01 PM
 #132

I feel like I might buy a mining rig just for May 15th..

Can you buy a PC with GPU's strong enough to mine from the get go? And in such a case.. could you buy a computer from Best Buy and "rent" it for the week? lol

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jimmyk
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May 08, 2013, 06:26:27 PM
 #133

Actually making an honest announcement about a delay:  got my respect.
champbronc2
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May 08, 2013, 08:07:18 PM
 #134

If anyone is taking pre-orders, PM me. That way we can guarantee you a rate. If you are a trusted member, I can pay before the coin is even released.

Unfortunately I'm going to have surgery on the 15th so I won't be physically available to mine it! Tongue

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May 08, 2013, 08:38:15 PM
 #135

OP is one of the few persons who actually learned from the bullshit of the past few weeks and put it into practice. Good Job!

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afro25
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May 09, 2013, 11:51:00 AM
 #136

Unfortunately I'm going to have surgery on the 15th so I won't be physically available to mine it! Tongue

Coincidentally I'll also be going to the hospital on the 15th at 4pm... I doubt I'll be out in time for this either. Poo.

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May 11, 2013, 08:38:41 PM
 #137

Thanks for a giving a time and date, it makes the project seem more legit too.

mercSuey
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May 12, 2013, 07:40:39 PM
 #138

Just to clarify, 0pticoin is mainly for your experimenting so to have a smooth release  for your intended coin at a later date?
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May 12, 2013, 08:15:13 PM
 #139

if you want to be really fair, you can supply a guide for the people who doesn't know how to solo mine, that way people can start creating pools, when all people can solo mine in the meanwhile...

~

or to be really fair.  premine the coin and then give those coins to the people who cry the most about how unfair the coin is.

I skipped half the thread to reply to this. I laughed so hard.

~~~~~~~~~

forum-goer: ehhhhhh, your coin is a huge scam!

Coin Dev: Here, have 50k!

forum-goer: We need to get this shit on an exchange!

~~~~~~~~~

right?

If you did it like that, you could just pre-mine the whole blockchain, maybe 100b coins...

 Roll Eyes
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May 14, 2013, 09:57:35 AM
 #140

Oh yay 24 hours away from the next fail coin.
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