[ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine

[Cyberdyne]

Can we offer contracts of exchange before it's even released?

Who will agree to sell me 10000 elacoins for 10 LTC total?

*handshake agreement*

[Schwede65]

please give the sources and binaries before the start - to test this software - to make it a little bit fairer to mine it for all

The sources are already available, however, the graphics have not being changed yet, and there is no genesis block. The genesis block will be announced when the coin has officially launched. You're free to generate your own genesis block (just remove 'false ||', compile and run elacoind) and test it out.

yeah - fine - are the windows-binaries available?

[chedigital]

Thanks for the advance notice

[bohanz]

Yeah let's get some futures going on what I assume will be denoted ELC

[Milkshake]

please give the sources and binaries before the start - to test this software - to make it a little bit fairer to mine it for all

The sources are already available, however, the graphics have not being changed yet, and there is no genesis block. The genesis block will be announced when the coin has officially launched. You're free to generate your own genesis block (just remove 'false ||', compile and run elacoind) and test it out.

yeah - fine - are the windows-binaries available?

Not yet. Elacoin is not formally released, this is just an announcement. Elacoin Windows binaries will be available and checksum'd for launch.

Can we offer contracts of exchange before it's even released?

Who will agree to sell me 10000 elacoins for 10 LTC total?

*handshake agreement*

That would be a very bad deal (to the person who's selling ELC )

[🏰 TradeFortress 🏰]

Actually a cryptocurrency that might achieve some sort of success!

[Cyberdyne]

Can we offer contracts of exchange before it's even released?

Who will agree to sell me 10000 elacoins for 10 LTC total?

*handshake agreement*

That would be a very bad deal (to the person who's selling ELC )

That's up to the seller to decide.

i.e. What is the current market value of an ELC (that hasn't even launched yet)?

If anyone wants to short ELC for litecoins, post your price here and let's see where the rate settles over the next 24 hours.

[Voyager]

Thanks for the announcement. This should be interesting, I've been waiting for a coin that has a block reward based on difficulty. Hope the launch goes smoothly, it seems with the new coins, the launches are getting worse and worse, we could really use a smooth one

[MaGNeT]

This post will feature Elacoin accepting websites, pools, faucets and communities.

Guess it will stay empty.

[phantastisch]

Heeeeeeeeeeeeeey ,

coins for everybody !

Faboulous idea , i cannot see why this coin will not be soon at 100USD each.

So awesome.. i will even mine some for my dog !

And the logo is soooooooo cute.

[willhash4food]

Ready for this??

Q: What's the most popular untapped resource of individuals on this forum?

A: All you emo-posters whining about new coins and how things aren't fair.

THIS IS YOUR UNOFFICIAL Elacoin SCAM ALERT

Cheers.

[markm]

How high is the initial difficulty set? Probably any estimate you have of how high it will need to be to hit your target two minites between blocks is likely to turn out to be too low, so maybe discuss that ahead of time, it is kind of suspicious actually that you didn't even mention initial difficulty yet made vague noises about no pre-mine / early-miner type benefits (which blocks coming out much faster than the target time certainly are...)

-MarkM-

The block reward is based on the difficulty, you know. It is the same as Litecoin. Early adapters will not accumulate a mass amount of coins, as the block reward will be many factors of what they are getting during the launch.

This is why Elacoin is the most fair cryptocurrency - to everyone, the launching adapters, and to the users who come months into the cycle.

How many times do people have to do that spew of orphans before it is clear that Litecoin was already too low difficulty even years ago when it launched, before GPUs could mine Scrypt? Nowadays GPUs can do Scrypt and huge numbers of Mhashes jump each launch.

So put the difficulty reasonable so people mine actual blocks instead of 99% orphans.

Low difficulty also trashed anyone who has any latency, a 200 ping which is only 1/5 of a second is normally not a problem for miners, but when you deliberately pre-plan to squeeze block time below a second it trashes even such perfectly normal (for many people) ping times.

The blocks should average at least your target two minutes right from the start, so it can actually BE fair. Many people take more than two minute just to compile the code, then another two minutes to get running. Some take two minutes just to download the code. So that is already three blocks missed even without scumbags deliberately screwing them out of 60+ blocks per minute by deliberately using insanely low difficulty.

-MarkM-

[🏰 TradeFortress 🏰]

Thanks for the announcement. This should be interesting, I've been waiting for a coin that has a block reward based on difficulty. Hope the launch goes smoothly, it seems with the new coins, the launches are getting worse and worse, we could really use a smooth one

As I understand, the reward is proportional to the hash power? Or is it proportional to the current difficulty?

The difficulty is linearly proportional to the network hashpower, as well as luck / variance, so should be the same?

[r3animation]

Any kind of time-frame when this will be released?

[markm]

Thanks for the announcement. This should be interesting, I've been waiting for a coin that has a block reward based on difficulty. Hope the launch goes smoothly, it seems with the new coins, the launches are getting worse and worse, we could really use a smooth one

As I understand, the reward is proportional to the hash power? Or is it proportional to the current difficulty?

Can't you read between the lines? Its the same scumbags doing the same "litecoins scammed before GPU mining was possible so we are going to scam too but 100's of times more because we have not only GPUs now but also hundreds of times as much Ghashes than litecoin had".

-MarkM-

[VelvetLeaf]

Yet-Another-Scrypt-Coin ?

[phantastisch]

Yet-Another-Scrypt-Coin ?

YASC ? Somebody make this !

[Milkshake]

How high is the initial difficulty set? Probably any estimate you have of how high it will need to be to hit your target two minites between blocks is likely to turn out to be too low, so maybe discuss that ahead of time, it is kind of suspicious actually that you didn't even mention initial difficulty yet made vague noises about no pre-mine / early-miner type benefits (which blocks coming out much faster than the target time certainly are...)

-MarkM-

The block reward is based on the difficulty, you know. It is the same as Litecoin. Early adapters will not accumulate a mass amount of coins, as the block reward will be many factors of what they are getting during the launch.

This is why Elacoin is the most fair cryptocurrency - to everyone, the launching adapters, and to the users who come months into the cycle.

How many times do people have to do that spew of orphans before it is clear that Litecoin was already too low difficulty even years ago when it launched, before GPUs could mine Scrypt? Nowadays GPUs can do Scrypt and huge numbers of Mhashes jump each launch.

So put the difficulty reasonable so people mine actual blocks instead of 99% orphans.

Low difficulty also trashed anyone who has any latency, a 200 ping which is only 1/5 of a second is normally not a problem for miners, but when you deliberately pre-plan to squeeze block time below a second it trashes even such perfectly normal (for many people) ping times.

The blocks should average at least your target two minutes right from the start, so it can actually BE fair. Many people take more than two minute just to compile the code, then another two minutes to get running. Some take two minutes just to download the code. So that is already three blocks missed even without scumbags deliberately screwing them out of 60+ blocks per minute by deliberately using insanely low difficulty.

-MarkM-

Hi MarkM,

Thank you for your feedback. The initial block reward is 1, which is very small compared to what it will be with a higher difficulty. While there will be a high amount of blocks produced at the start, the coins produced are very small to compensate for the low difficulty.

[Milkshake]

Yet-Another-Scrypt-Coin ?

With something different

[markm]

How high is the initial difficulty set? Probably any estimate you have of how high it will need to be to hit your target two minites between blocks is likely to turn out to be too low, so maybe discuss that ahead of time, it is kind of suspicious actually that you didn't even mention initial difficulty yet made vague noises about no pre-mine / early-miner type benefits (which blocks coming out much faster than the target time certainly are...)

-MarkM-

The block reward is based on the difficulty, you know. It is the same as Litecoin. Early adapters will not accumulate a mass amount of coins, as the block reward will be many factors of what they are getting during the launch.

This is why Elacoin is the most fair cryptocurrency - to everyone, the launching adapters, and to the users who come months into the cycle.

How many times do people have to do that spew of orphans before it is clear that Litecoin was already too low difficulty even years ago when it launched, before GPUs could mine Scrypt? Nowadays GPUs can do Scrypt and huge numbers of Mhashes jump each launch.

So put the difficulty reasonable so people mine actual blocks instead of 99% orphans.

Low difficulty also trashed anyone who has any latency, a 200 ping which is only 1/5 of a second is normally not a problem for miners, but when you deliberately pre-plan to squeeze block time below a second it trashes even such perfectly normal (for many people) ping times.

The blocks should average at least your target two minutes right from the start, so it can actually BE fair. Many people take more than two minute just to compile the code, then another two minutes to get running. Some take two minutes just to download the code. So that is already three blocks missed even without scumbags deliberately screwing them out of 60+ blocks per minute by deliberately using insanely low difficulty.

-MarkM-

Hi MarkM,

Thank you for your feedback. The initial block reward is 1, which is very small compared to what it will be with a higher difficulty. While there will be a high amount of blocks produced at the start, the coins produced are very small to compensate for the low difficulty.

But not for the inability of the blocks to propagate fast enough, aka the insane orphan rate. No matter how much hashing power someone has you (or your cronies or whoever) simply snap up each block long before anyone else can even receive the one you built it on.

-MarkM-