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Author Topic: [ANN][ONC] Onecoin - CPU only - Pools opened!  (Read 73568 times)
TheSwede75
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May 09, 2013, 10:20:21 PM
 #61

Namecoin is not valued much because it is merge mined with Bitcoin in majority of Bitcoin pools. Not many people are ready to pay a lot for something that is created without
putting much work into it.

In terms of how many coins are generated early, PPCoin is much bigger scam than Litecoin.

I don't consider PPCoin or LTC a scam. I think you have to separate SCAM coins from simply Poorly designed coins. Any coin can have a poor implementation, diff, block reward etc. What makes a SCAM coin (Bitbar, Mincoin etc.) is that they are designed with the sole purpose of making the developers and their 'friends' rich.

Signs of a scamcoin:

Launched at non-peak forum hours with no, little or faulty launch time.
Convoluted design for the purpose of discouraging public mining in early blocks.
Quickly dropping block reward to reward 'prepared' miners (aka. inner circle)
Very low starting difficulty that quickly increase (also to reward inner circle and pre/instaminers)
Ultra fast time to market. aka. Appears on trading solutions within a few days. To enable early miners fast and profitable exit.
LOTS of forum PR (spamming altcoin forums)

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anti-scam
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May 09, 2013, 10:26:37 PM
 #62

Give the only coin away in the first block and then you'll have something unique.

xibeijan
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May 10, 2013, 11:40:46 AM
 #63

Interesting idea.

If it could be as successful as YAC, then I'd be interested... however, I think you need something more to add incentive to mining this coin.

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May 10, 2013, 12:21:41 PM
 #64

Interesting idea.

If it could be as successful as YAC, then I'd be interested... however, I think you need something more to add incentive to mining this coin.

Your bar for "success" is very low.
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May 10, 2013, 12:30:09 PM
 #65

I'd like this coin to adopt the scrypt-jane algo implemented in yacoin. With proper Windows binaries please.  Smiley
barwizi
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May 10, 2013, 12:49:48 PM
 #66

if you are serious, here's a small to do list, it wont guarantee success but the differences willl garner some attention from the big boys of alt coins.


1, chuck the old algos, the scrypt-jane idea is ok due to the standing block on GPU mining.
2, starting difficulty must neither be too low, or too high, if ppl mine too quickly, you'll fade by nightfall. if its too slow, ppl will either accuse you of premine, scam , or a useless algo.
3, do a fair start, give a specific date and time of launch and ensure all source code and binary functions  properly.
4, when you edit the client(i'm assuming u'll be using a modified version of the btc or ltc one) make sure it all says ONC coz if ppl start seeing other names of previous coins, they wont take this seriously.
5, stay in contact, dont abandon it just after releasing it.
Jowbob
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May 10, 2013, 01:12:15 PM
 #67

Onecoin will be released to public in few days. I will make an announcement of release date and time in this thread for at least 24 hours before it. The genesis block will include the URL of my latest post in the thread to prove that there is no premine.

Can't wait until release.

RustyShackleford1950
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May 10, 2013, 02:14:11 PM
 #68

Guys, just take a look at the source code. This is a straight up litecoin clone. Not even the readme has been altered.

They didn't even bother to change it from litecoin to "onecoin".
 Roll Eyes

On keyboard, the big d, rusty shackleford
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May 10, 2013, 05:42:36 PM
 #69


I don't consider PPCoin or LTC a scam. I think you have to separate SCAM coins from simply Poorly designed coins. Any coin can have a poor implementation, diff, block reward etc. What makes a SCAM coin (Bitbar, Mincoin etc.) is that they are designed with the sole purpose of making the developers and their 'friends' rich.
I see, any store of value coin or coin which can make people "rich" is a scam.

Bitbar I can agree on because you can't even mine it now that the difficulty is so high, but nothing stops you from mining Mincoin. What you're saying is you don't agree with the early reward structure but that doesn't make it a scam because in the case of Mincoin anyone was free to mine them in the first 3 days and you chose not to. The developer and his friends mining it in advance is premining. Instamining is when it's mined up in one day. 3 days is early bird mining and I suppose you could say it's a case of instamining and I can understand that sentiment but it doesn't make it a scam unless you can't mine and get significant coins still.

You can get 2000 coins a month mining Mincoin. I'm mining Mincoin right now. Some people had a lot of Mincoin early on but most of those people sold them, have a look at the network and you'll see that while it started out unbalanced, a lot has changed as most of the early miners have cashed out and are cashing out as we speak.

The difficulty in my opinion is the issue that matters. A coin can be intended not to be instamined and use SHA256 and one ASIC can ruin the difficulty. Mincoin at least used scrypt and has something like 1 minute block rewards, the difficulty adjusts something like twice a day, what more do you want?

It's a good coin to mine over the long term, and most complaining are just mad that didn't start mining the first 3 days. Some people didn't get a chance to mine BTC in the first 3 years and now there are ASICS, the same argument is being used against BTC making the early adopters rich or making Satoshi rich thus Bitcoin is a ponzi scheme?
Sondey10mg
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May 10, 2013, 05:51:17 PM
 #70

Just a noob question:

I've compiled the source into a onecoin-qt. Will I have to compile it again when it releases?

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turtle83
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May 10, 2013, 05:55:20 PM
 #71

Just a noob question:

I've compiled the source into a onecoin-qt. Will I have to compile it again when it releases?
Yes. But that re-compile should be quicker since make only re-does changed files

Joerii
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May 10, 2013, 06:05:18 PM
 #72

vinne81, TheSwede75, you guys made me laugh. Thanks!
BTW you can compare our registration dates.

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Sondey10mg
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May 10, 2013, 06:06:23 PM
 #73

Just a noob question:

I've compiled the source into a onecoin-qt. Will I have to compile it again when it releases?
Yes. But that re-compile should be quicker since make only re-does changed files

ty, turtle!

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cre8r
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May 13, 2013, 01:25:01 PM
 #74

I have just finished porting scrypt-jane implementation from Yacoin. So enjoy the new CPU-only cryptocurrency.
Boxman90
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May 13, 2013, 01:27:20 PM
 #75

When is the release?

LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC   BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
xibeijan
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May 13, 2013, 01:28:09 PM
 #76

I have just finished porting scrypt-jane implementation from Yacoin. So enjoy the new CPU-only cryptocurrency.

Is this launched now?  To be successful, you need to make the official launch clear somehow and give some advanced notice.

So, what's unique about your coin anyway, other than the position of the decimal place?

cre8r
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May 13, 2013, 01:36:22 PM
 #77

When is the release?
Is this launched now?  To be successful, you need to make the official launch clear somehow and give some advanced notice.
I will make an announcement 24 hours before it.

So, what's unique about your coin anyway, other than the position of the decimal place?
The reward will gradually increase during first 25000 blocks (or maybe less, since it cannot be GPU mined anymore) to prevent early adopters from gaining unfair advantage.
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Litecoin is right coin


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May 13, 2013, 01:53:32 PM
 #78

As long as you realize that no exchange will take your coin. BTC-e won't take it just for the fact that it doesn't support that low a number for transactions.

crymo
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May 13, 2013, 01:54:41 PM
 #79

ok, what's different about this coin ?

same crap as many others.


barwizi
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May 13, 2013, 02:05:16 PM
 #80

give us a solid launch date.
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