[ANN] 0pticoin (0TC) - Release Date: May 15, 2013 - Postponed ~1 month [ANN]

[dokosten]

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.. So I hope you can find a solution which works for us low hashers aswell!

Good luck!

[e521]

also yac was launched today...

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 has miners.. So I hope you can find a solution which works for us low hashers aswell!

Good luck!

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

[c4n10]

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...

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.. So I hope you can find a solution which works for us low hashers aswell!

Good luck!

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

also yac was launched today...

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 has miners.. So I hope you can find a solution which works for us low hashers aswell!

Good luck!

LOL 
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]

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

[Buffer Overflow]

remember satoshi took days just to mine the genesis block

No he didn't. Who on earth told you that rubbish?

[c4n10]

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

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]

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

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

[Passion_ltc]

[c4n10]

LOL, don't see that one often...

[champbronc2]

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

[champbronc2]

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!

[spoid]

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!

[afro25]

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

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.

[Dacm4n]

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

[mercSuey]

Just to clarify, 0pticoin is mainly for your experimenting so to have a smooth release  for your intended coin at a later date?

[coinerd]

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...

 

[computerparts]

Oh yay 24 hours away from the next fail coin.

[Impaler]

Postpone it indefinitely, I see nothing of value or innovation here, the OP says this coin is just to 'learn' if that's the case go run it on test-net, you do not launch a coin simply to learn how BTC code works.  The OP makes some reference to some future jargon-filled idea to sound like he has made some kind of innovation but the truth is he has not remotely the skills necessary to do anything of value in Crypto currency as evidence by his total failure to comprehend the criticism leveled so far.  I think all the so called innovation is a smoke screen to distract from a pump and dump coin, his initial proposal was just full of scam-bait.

[napoleon2121]

ok let's mine it

[Praxis]

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...

 

It's exactly how it is. The people who cry about premines being "unfair" are envious.
The rational people who do not like a coin being premined just don't buy it and stay indifferent.
Recently Boxman90 demonstrated this when he tried to extort a coin maker (NWO): "If you don't pay me 25.000 Powercoin, I will make a thread about how unfair and unjust your coin is!"
(Ha ha, and extortion / blackmail is fair and just?)