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

[TheSwede75]

QUICK! Someone launch an Altcoin! There will be like 1000 nerds here in 2 hours with total 'premine blue-balls' if they don't have some kind of scam to throw their GPU power at!!

[saudibull]

Well, if milkshake was true to his word on the coin, he would have surely come to the board to answer questions - not responding to anything looks more and more like he saw that the community figured out his scam, and is now running away .....  who knows

[Devianttwo]

I like it hazard. Keep me informed. If you actually make this coin I'll be your first pool

[TheSwede75]

Preliminary HazardCoin features:

Retarget every 6 hours
5 minute block target time

^ Both largely irrelevant because... Block reward will be based on the amount of time passed since last block found. This will accomplish the following:

* DDOSing pools to decrease difficulty will accomplish absoluetly nothing
* Discourage pool/coin hopping
* Provide incentive to continue mining even when nethashrate goes down (i.e. feathercoin)

No... Just no. Stop it.

[alex_fun]

Can you read, someone is mining the coin already. 25 plus nodes

QUICK! Someone launch an Altcoin! There will be like 1000 nerds here in 2 hours with total 'premine blue-balls' if they don't have some kind of scam to throw their GPU power at!!

[Hazard]

To generate 1360 blocks would take much longer than the time between his PM to me, and my post about it on the board. Theory disproven.

No it wouldn't. On 0.000~ diffculty you can generate 1300 blocks in couple hours.

False. There's a hardcap of 1 block per ~2.5 seconds even at 0 difficulty. Create your own coin and try it yourself! It's the reason why 0 difficulty coins don't reach block 2000 instantly after launch.

[Petr1fied]

lol, now someone is mining it:

C:\elacoin-master\src>elacoind getinfo
{
    "version" : 60300,
    "protocolversion" : 60001,
    "walletversion" : 60000,
    "balance" : 0.00000000,
    "blocks" : 396,
    "connections" : 2,
    "proxy" : "",
    "difficulty" : 0.00024414,
    "testnet" : false,
    "keypoololdest" : 1368504032,
    "keypoolsize" : 101,
    "paytxfee" : 0.00000000,
    "mininput" : 0.00010000,
    "errors" : ""
}

[TheSwede75]

Can you read, someone is mining the coin already. 25 plus nodes

QUICK! Someone launch an Altcoin! There will be like 1000 nerds here in 2 hours with total 'premine blue-balls' if they don't have some kind of scam to throw their GPU power at!!

Yeah, but milkshake coin is sort of 'done' now. And by 'sort of' I mean 'Stick a fork in it, and throw it out the window'. Unless OP shows up with the best damn explanation ever heard.

[shaal]

Preliminary HazardCoin features:

Retarget every 6 hours
5 minute block target time

^ Both largely irrelevant because... Block reward will be based on the amount of time passed since last block found. This will accomplish the following:

* DDOSing pools to decrease difficulty will accomplish absoluetly nothing
* Discourage pool/coin hopping
* Provide incentive to continue mining even when nethashrate goes down (i.e. feathercoin)

Please for the love of god NO MORE new altcoins. at least until things settle down and then sit down and really plan out the coin, do something innovative and game changing.

[Hazard]

Wait... is this going to be a real coin?

I mean, it can be. If there's actually an interest for it. I just thought of it off the top of my head.

I like it hazard. Keep me informed. If you actually make this coin I'll be your first pool

[fenican]

LOL at "nerds with pre-mine blue balls" so true

[nocoin]

To generate 1360 blocks would take much longer than the time between his PM to me, and my post about it on the board. Theory disproven.

No it wouldn't. On 0.000~ diffculty you can generate 1300 blocks in couple hours.

False. There's a hardcap of 1 block per ~2.5 seconds even at 0 difficulty. Create your own coin and try it yourself! It's the reason why 0 difficulty coins don't reach block 2000 instantly after launch.

So? 2.5 sec = 24 blocks per minute. 24x60=1440 blocks per hour.
FAIL.

[joehop67]

Wait... is this going to be a real coin?

I mean, it can be. If there's actually an interest for it. I just thought of it off the top of my head.

I like it hazard. Keep me informed. If you actually make this coin I'll be your first pool

Well if it is I would def. be interested. I like altcoins  

[gudmunsn]

LOL at "nerds with pre-mine blue balls" so true

+1

[willhash4food]

Keep in mind the OP's code has been available on Github (https://github.com/elacoin/elacoin)

Hence, anyone could have ZIP'ed it up, created a valid genesis block, and then claimed milkshake sent him it.

Here's a good litmus test.  Hazard, since you are the expert at compiling for Windows please post a working Windows client

I already provided the source, screenshots of the working client, and my correspondence with him. I owe you nothing more. Compile the source yourself if you are so inclined.

28 pages of emo-miners on the edge of their seats! Wonderful opportunity here (for the next 2 hours) for someone to compile and post a Windows client packed with viruses A, B and C...

[relm9]

Lol, so who here is actually mining this? Speak up 

[barwizi]

Join my coin!!! it's the most innovative yet https://bitcointalk.org/index.php?topic=204308.msg2135629#msg2135629

[iGotSpots]

I might throw a couple mhash at it right away just since I'm up this late. Everything else is premined too anyway

[Hazard]

Join my coin!!! it's the most innovative yet https://bitcointalk.org/index.php?topic=204308.msg2135629#msg2135629

Most honest coin yet!

[Petr1fied]

600 blocks already. Whoever is mining it, really what is the point? You know the genesis block is going to be reset.