[ANN] ZENITHCOIN (ZTC) by Invitation Only Early Mining

[solracx]

MINING IS NOW ACTIVE

Launch has been fair and balanced.   Early difficulty was low but it has now reached reasonable levels.    See the block explorer for details.   

If you do not where to go, send email.



MINING INVITATIONS HAVE BEEN SENT.  MINING STARTS IN 2 HOURS (8:00 AM Eastern Daylight Savings Time).

P.S.  Apologies for 1 hour change.... clocks were reset yesterday evening.


ZenithCoin (www.zenithcoin.com) will commence mining on June, 9th 2013.

A new genesis block will be created with new network parameter settings.

Mining for the first 3 days will be performed by invitation only.

For the first 3 days, 98.9583333% of all coins will go to mining.

As further incentive.   Miner rewards will be 4 times the normal subsidy amount.  So instead of 24 coins per block, it will be 96 coins per block.

Please email info@zenithcoin.com prior to June, 9th 2013 to reserve your spot. Please specify your platform on the email.  Also please specify your location so I can set up appropriate seed nodes.

Binaries and mining coordinates will be provided in private to this select group on June 9th.

You can follow ZenithCoin on Twitter:  https://twitter.com/ZenithCoin  or on Facebook:  https://www.facebook.com/Zenithcoin

Best Regards

(original source: http://www.zenithcoin.com/?p=31 )

Alternative to email you can send me a message.

Tentative Invitation List

• Steve R. -  800 KH/s, 1300 KH/s if my 8-pin adapter gets in by then.
• Agent S -   Windows 7.  (Please provide hash rate)
• Tech B - Windows 7
• Leonardo F - (Please provide platform info )
  
• Hugh P - (Please provide platform info )
  
• Fred F - - north france, I use Windows and have 1440 kHs
  
• CClint D - Linux 3000 KH/s
  
• Mike C - Windows (Please provide hash rate)
  
• 张谊 - Various
  
• noel - Windows 7, 2000 KH/s - Australia
  
• mazaguy - Windows
  
• bizz - Windows / Ubuntu
  
• J.K - 5000 KH/s
  
• Kent A
  
• Ramza - 1400 KH/s Brazil
  
• Frank C - 2000 KH/S - USA
  
• Anghelina - Windows 8 Romania
  
• TheSwede - 600kh/s on Win 7 x64 virtual machine
  
• Andrew S. - South Africa  2,200KHs
  
• Larry -
  
• Charles S. - Windows, Linux
  
• Mick A. - 400KHs, UK

[iGotSpots]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

[solracx]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

[eagleEye]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had issues with pre-mature mining. 

That is false. There is above 10.000 blocks alive forked from your block genesis, so it is the only one true and primigenian zenithCoin blockchain.  And we have got Windows Qt  client available ....

https://bitcointalk.org/index.php?topic=227237.0

[iGotSpots]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

[eagleEye]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

Reset is not possible, becuase 10.000 blocks blockchain is alive now in ZenithCoin mainNet.
https://bitcointalk.org/index.php?topic=227237.0

[solracx]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

[cryptohunter]

so you are resetting those 10000 blocks or what is happening with those?

[iGotSpots]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

You've shot yourself in the foot with this one, homie. Sorry to say

[TheSpiral]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

You've shot yourself in the foot with this one, homie. Sorry to say

How's that? Because someone cloned a beta version of something and called it the exact same name? That's douchebaggery.

[iGotSpots]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

You've shot yourself in the foot with this one, homie. Sorry to say

How's that? Because someone cloned a beta version of something and called it the exact same name? That's douchebaggery.

That's not what happened. At all

[emerefer]

so a select few will get to mine for 96 coins per block.  then everyone else will be able to mine for 12 coins per block?


im sure this will work out good

[eagleEye]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

Original blockchain is not on testNet, it is in mainNet. If you would want a test network you should to have realeased just testnet blockgenesis. Now,  your official block genesis of 1 Jun  is replicated over hundreds of nodes ... You can not deleted hundreds of blockchains in several parts or world. It is virtually impossible, and illegal.

[solracx]

so you are resetting those 10000 blocks or what is happening with those?

poof... gone... just for testing purposes.

[solracx]

so a select few will get to mine for 96 coins per block.  then everyone else will be able to mine for 12 coins per block?


im sure this will work out good

Yes, precisely.   Early bird special.  You have plenty of time to decide if you want in.

[TheSpiral]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

Original blockchain is not on testNet, it is in mainNet. If you would want a test network you should to have realeased just testnet blockgenesis. Now,  your official block genesis of 1 Jun  is replicated over hundreds of nodes ... You can not deleted hundreds of blockchains in several parts or world. It is virtually impossible, and illegal.

Lol. Illegal.

[solracx]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

Original blockchain is not on testNet, it is in mainNet. If you would want a test network you should to have realeased just testnet blockgenesis. Now,  your official block genesis of 1 Jun  is replicated over hundreds of nodes ... You can not deleted hundreds of blockchains in several parts or world. It is virtually impossible, and illegal.

Lol. Illegal.

You know, Intel usually sends out 'Engineering Samples' of their chips prior to selling them.   I heard it was illegal to sell those ES.  Anyone can verify?

[eagleEye]

I'd throw a couple mhash at it, possibly...

But isn't this like the 3rd time you're releasing the same coin now?

Mining on the coin has yet to start.  The source code was made available for public review early this week.

A couple of miners had anticipation issues with pre-mature mining.  

Can't blame them,  this coin has a lot of potential!

You launched it June 1st, no? Then decided a few days later that was a test and reset everything...?

June 1st was for public review of source code and to give folks time to kick the tires testing the code.    A bunch of miners were able to successfully mine up to 10,000 test blocks.  So we are pretty comfortable now with the stability of the code base.

Original blockchain is not on testNet, it is in mainNet. If you would want a test network you should to have realeased just testnet blockgenesis. Now,  your official block genesis of 1 Jun  is replicated over hundreds of nodes ... You can not deleted hundreds of blockchains in several parts or world. It is virtually impossible, and illegal.

Lol. Illegal.

Sarchasm is not for you ... How this guy are going to "delete" our/(and his) blockchain ?¿?¿?¿?¿?'?

[MaGNeT]

What coins influence the design of ZenithCoin?

ZenithCoin is similar to Devcoin and Freicoin, however the percentage distributions are different.    The Proof of Work scheme comes from Litecoin.

Why is the 50% fixed distribution necessary?

The primary deficiency of many crypto-currencies in the market is the lack of long term stewardship of the coin.   The only incentive for developers is to pre-mine a coin (or cheat in the initial mining process) and to collect profits on the sale of the coin.   All profits are short term and typically the coin is pumped and dumped in an exchange.  There is no incentive to maintain and enhance the coin in the the long term.

THee most profitable strategy for miners is to mine a coin that has long term prospect to appreciate in value over time.  This is what most profitability calculation do not take into account.  The only way this appreciation can happen is that the developers extend considerable effort to ensure the coin has the best features and services.

Consider for a moment existing alt-coins. What guarantees have you heard from the original developers that say they will make long term improvements on the coin?

Will 50% of the mined coins be allocated only for Development purposes?

No.  The primary allocation will be devoted to Market Maker operations.   The percentage devoted for development will vary over time, however long term we expect it to get to equilibrium at 10% of the total allocation.

How is ZenithCoin similar to a Corporate Equity?

The 50% fixed distribution of coins as a result of mining operations can be thought of as similar to a corporate equity.   That is investors purchase and own equity (i.e. stocks) long term with the expectation that over time the worth of the equity appreciates in value as a result of the efforts of the corporation that issued that equity share.

How is ZenithCoin different from a Corporate Equity?

The difference with a equity is that the developers are unable to arbitrary issue more equity through equity offerings.  All coins need the participation of miners to create.

solracx is getting 50% of the coins and calls it "corporate equity"?

I call that: huge premine with another name.

solracx didn't like the fact that eagleEye removed the 50% in his compiled wallet-qt and now wants to restart the chain by calling it "a test".



I think it's better to forget this coin and the first release, solracx isn't suitable for it.

50% premine... He's nuts...

[eagleEye]

- For the first 3 days, 98.9583333%% of all coins will go to mining.

- No windows client.

Nice relauch, really ....