[ANN][YAC] YACoin ongoing development

[bandjhughes]

Keep selling, more cheap YAC for me to pick up

No doubt  

I've uploaded an alpha snapshot of what will hopefully be part of the 0.4.1 version of YACoin to:  https://github.com/yacoin/yacoin/releases/tag/testing_4.1.0-a
I used the logo that I like in this version, but don't flip out as it is not yet official  

Hello Joe.  I downloaded and complied your 0.4.1.a test version.  Is there an area you are most interested in hearing some test feedback?

I haven't looked at it yet, but a couple small things I noticed during the build:  in the yacoin-qt.pro file towards the bottom of the file, "novacoin-qt" should be changed to "yacoin-qt".  Also I'd recommend matching the logo and the icon (I know this is just a project-in-work test beta, but I still think Novacoin's icon should be scrapped ASAP in all future yacoin versions).

Thanks!

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[sairon]

I haven't looked at it yet, but a couple small things I noticed during the build:  in the yacoin-qt.pro file towards the bottom of the file, "novacoin-qt" should be changed to "yacoin-qt".  Also I'd recommend matching the logo and the icon (I know this is just a project-in-work test beta, but I still think Novacoin's icon should be scrapped ASAP in all future yacoin versions).

You can try building my version (however, all the icons are yak ). https://github.com/saironiq/yacoin-cc

[Joe_Bauers]

Keep selling, more cheap YAC for me to pick up

No doubt  

I've uploaded an alpha snapshot of what will hopefully be part of the 0.4.1 version of YACoin to:  https://github.com/yacoin/yacoin/releases/tag/testing_4.1.0-a
I used the logo that I like in this version, but don't flip out as it is not yet official  

Hello Joe.  I downloaded and complied your 0.4.1.a test version.  Is there an area you are most interested in hearing some test feedback?

I haven't looked at it yet, but a couple small things I noticed during the build:  in the yacoin-qt.pro file towards the bottom of the file, "novacoin-qt" should be changed to "yacoin-qt".  Also I'd recommend matching the logo and the icon (I know this is just a project-in-work test beta, but I still think Novacoin's icon should be scrapped ASAP in all future yacoin versions).

Thanks!

Thanks, the fix for the mac target "NovaCoin-Qt" is part of a pull request from sairon that also includes fixes for the icons as mentioned above. Once the vote is complete I will merge everything into the beta testing release.  

As for the test feedback, you can view the changes here:  https://github.com/yacoin/yacoin/commit/5fcae21137cf18661c83b459ded4aa2bab428c6e
Essentially, I changed all instances of YaCoin to YACoin, added the version in the title (though I have to fix that, as we're not at version 4.1, but 0.4.1) I changed the overall colour a bit, as well as hovering colours etc, added the splash screen, removed some more novacoin references (addresses), changed the connection icons, added a --help option in the daemon, removed another bitcoin reference (the last I believe) and standardized the YACoin addresses.

[sairon]

Vote for YAC! https://bitcointalk.org/index.php?topic=285619.0

[alenevaa]

Vote for YAC! https://bitcointalk.org/index.php?topic=285619.0

Done!
YAC at the 3rd place (18.1%)
it needs more votes 

[cycloid]

lol my store https://coincable.com WAS supporting YAC for 1 DAY lol until they pulled support so please VOTE !

[alenevaa]

Vote for YAC! https://bitcointalk.org/index.php?topic=285619.0

new vote is here:

https://bitcointalk.org/index.php?topic=286120.0

[ilostcoins]

Vote results are in the voting thread. I've PMed Mjbmonetarymetals for one more colour version of his design so we can have a final showdown of design A in blue or orange plus 2 versions of his design.

I'm getting a bit worried about the startup time of the Yacoin client. Is it a result of blockchain generated at higher N takes more time to verify? The QT client verifies the hashes of the blockchain every time it starts?

Everyday, there should be about 1.4k blocks generated. Normal CPU may soon need around 10 seconds to verify the hashes of 1.4k blocks? A year's blocks may take an hour to verify just counting CPU time. Is the development of a lightweight client quickly becoming a necessity?

[Gorgoy]

Good point. A hard limit should be set somewhere not in the Billion range though...

Difficulty scales supply to demand. You have to make a case for difficulty being too low for the near future demand (which doesn't seem the case IMHO), and in that case for the need of capping supply instead of just raising difficulty.

If demand raises healthily then two billion is fine. It's like one million wallets with 2,000 coins on average. Remember the final aim is to maximize demand, not to maximize the value per coin (it's not the same).

I so agree with this, there should not be a hard cap at all, it should be allowed to float. one million wallets is a small amount of wallets, if the YACoin takes off, like we all want it to. Most of the other coins or I should say, many of the other coins are very restrictive and limited in their minting, and that will be a serious problem in the coming future. As more people come to cryptocurrency the need for more coin will absolutely balloon. There is a psychological effect that takes place when someone trades a dollar and gets .00001 coin of anything. That is beginning to take effect with Bitcoin and will only get worse, at least that has been the case and the first comment made by non-tech friends that I talk to about Bitcoin or set them up with a Bitcoin wallet.

[Gorgoy]

We should really move up the PoS minting rate up to 20-45% to encourage long term holding of a coin, with a steady decline each year say 5-10% minting decrease or proportional to speed of network. Annual set decrease is good and simple enough i think.

 This way even non miners will be holding this coin and helping us increase supply and circulation, while attracting more investors to either buy the coin or mine and hold it.

Implementing this strategy will surely allow this coin to survive for a few years which in this market could be do or die for most alts.

Think about it, as the adaptation grows and more and more ppl choose to hold due to potential ROI of PoW + PoS mint, the price will stabilize and as PoS slowly start to decrease over next few years, coins will start to circulate more with out massive dumps and produce a very good alternative coin to ltc.

I think this strategy could really help make this "an average man coin" since you will have ability to mine with cpu, if you cant buy and then hold and really build up holdings with out massive rigs, while mining with what you can and help the network. "Big" guys will be attracted to come in and buy up coin with renewed interest or mine it on larger scale as they see "an average man" making good ROI, which in turn will make average in to big.


My two Yacs

I'm strongly against making any hardfork-requring changes to the YAC protocol. Just my two YaCents.

I also strongly agree that there should not be any hard forks at this time. Although PoS minting is what has attracted me to YACoins I would not like to see any major changes.

[St.Bit]

We should really move up the PoS minting rate up to 20-45% ...

I'm strongly against making any hardfork-requring changes to the YAC protocol. Just my two YaCents.

I also strongly agree that there should not be any hard forks at this time. Although PoS minting is what has attracted me to YACoins I would not like to see any major changes.

It's not a good time to make any hardforks at the moment.

I think the current PoS reward is in a good order of magnitude and shouldn't be bigger at all. We could rather add an additional reward for longterm holdings and I also have a lot of (good?) ideas to hardfork but it's not the right time to think or discuss such extreme changes now.

[Beave162]

Good point. A hard limit should be set somewhere not in the Billion range though...

Difficulty scales supply to demand. You have to make a case for difficulty being too low for the near future demand (which doesn't seem the case IMHO), and in that case for the need of capping supply instead of just raising difficulty.

If demand raises healthily then two billion is fine. It's like one million wallets with 2,000 coins on average. Remember the final aim is to maximize demand, not to maximize the value per coin (it's not the same).

I so agree with this, there should not be a hard cap at all, it should be allowed to float. one million wallets is a small amount of wallets, if the YACoin takes off, like we all want it to. Most of the other coins or I should say, many of the other coins are very restrictive and limited in their minting, and that will be a serious problem in the coming future. As more people come to cryptocurrency the need for more coin will absolutely balloon. There is a psychological effect that takes place when someone trades a dollar and gets .00001 coin of anything. That is beginning to take effect with Bitcoin and will only get worse, at least that has been the case and the first comment made by non-tech friends that I talk to about Bitcoin or set them up with a Bitcoin wallet.

+1 Thank you for this great insight.  The idea that supply of a 'coin' shouldn't matter at all as it can be infinitely divisible--just move over decimal places and change the prefix.  However, it does matter as we are dealing with fiat where value is derived from perception, and the psychological impact of trading 1 dollar for 0.00001 of something is just as you said.  I believe we are witnessing this effect in the converse with infinitecoin? 

With that said, I am concerned with the massive drops in difficulty at N-changes.  People have complained about this coin basically being a GPU premine than CPU, but it seems to be the opposite.  The people who starting mining earlier had to do so at a much higher difficulty, and if the price per coin remained the same, it becomes more instantaneously profitable after difficulty drops with N-Change.  Am I way off?

[St.Bit]

I'm getting a bit worried about the startup time of the Yacoin client. Is it a result of blockchain generated at higher N takes more time to verify? The QT client verifies the hashes of the blockchain every time it starts?

Everyday, there should be about 1.4k blocks generated. Normal CPU may soon need around 10 seconds to verify the hashes of 1.4k blocks? A year's blocks may take an hour to verify just counting CPU time. Is the development of a lightweight client quickly becoming a necessity?

Well dependes what you consider lightweight...

Since PoS is a security feature it would be a bad idea to use a lightweight client to PoS, but the current yacoin-qt will always be too slow to compete will light clients. My idea is that we include a liteclient additionally into yacoin-qt and use it when the blockchain isn't ready yet. It doesn't matter that it might take gb of HDD, but waiting a day to send the first txt isn't acceptable.

I'd like yacoin-qt to be the first original client that is actually useable. Even for bitcoin you have to use someting like Armory to use it properly.

[Joe_Bauers]

I also strongly agree that there should not be any hard forks at this time. Although PoS minting is what has attracted me to YACoins I would not like to see any major changes.

There will not be any hard forks to YACoin unless absolutely necessary from a security standpoint. There are a lot of enhancements that can and will be made that do not require a hard fork.

[Joe_Bauers]

Again, thanks to St. Bit. If anyone else wants to sell >= 40,000 YAC's to me, please let me know.

[ilostcoins]

If no one object, I'll make a voting thread for logo final showdown with these four:


I'm using a bit of judgement to keep the final round of logo choice to these 4 because I don't want the votes to be spread too thin.

[Beave162]

YaCoin supported by coinpayments.net.  Must say, I'm happy the YaCoin community is strong and only getting stronger.

https://bitcointalk.org/index.php?topic=276455.60;topicseen

[ilostcoins]

If no one object, I'll make a voting thread for logo final showdown with these four:


I'm using a bit of judgement to keep the final round of logo choice to these 4 because I don't want the votes to be spread too thin.

3D effect from C or D applied to A or B would probably look badass.

Like this?


I'm not sure I've made it look better than the simple version. You may need someone more skillful.

[SirMintALot]

If no one object, I'll make a voting thread for logo final showdown with these four:


I'm using a bit of judgement to keep the final round of logo choice to these 4 because I don't want the votes to be spread too thin.

3D effect from C or D applied to A or B would probably look badass.

Like this?


I'm not sure I've made it look better than the simple version. You may need someone more skillful.

I like YAK Logo more, but this one is at least not boring like all the other ones. IMHO YAC should be different to all these 08/15 Junkcoins to be recognised and accepted by more people. Apple had a long time the slogan "Think different" and over time it helped a lot to be different than the mainstream to become mainsteam 

[cycloid]

i vote C