Ixcoin TODO

[FrictionlessCoin]

The new iXcoin client is based on i0coin.  Look at rsnel's comments on the bip16 and bip30 and forking (splits).

https://bitcointalk.org/index.php?topic=224744.msg2858982#msg2858982

All of this requires coordination with the two main pool operators.   

[FrictionlessCoin]

I think the majority should go to Friction, at least 20-25K IXC.  He came up with the client update, a new website and a forum, and has been promoting iXcoin for quite some time now.  He even did an iXcoin give away.  Friction pretty much met all the requirements you laid out.  Although I don't really consider the client complete until the merged mining is fully tested and the mining community has fully migrated to the new client.  Let's try to get that done soon before discussing too many future upgrades.

Thanks for backing me up on this.

People also need to realize that I dole out bounties for all sort of other stuff too,  new logo, mac os x build, windows build,  i0coin contributions, testing, running nodes, promotions, etc.   There's a lot of work and expenses to maintain a coin! 

[jamaer]

Is this address
IXC: xm7RZfDQyiYqFQZ6Q9ZgtSkX9e8uBJ3SLY
the correct way to donate to the project?

Yes.  It should be the same as the one on www.ixcoin.co

Ok, I sent there 5000 IXC. I encourage others, who think this project might have potential, to do the same.

[lukeconnell]

Is this address
IXC: xm7RZfDQyiYqFQZ6Q9ZgtSkX9e8uBJ3SLY
the correct way to donate to the project?

Yes.  It should be the same as the one on www.ixcoin.co

Ok, I sent there 5000 IXC. I encourage others, who think this project might have potential, to do the same.

That is very generous. On behalf of the iXcoin Community, Thank you.

Regards, Luke.

[FrictionlessCoin]

Are people interested in the Counterparty implementation?

I haven't heard any feedback on this proposal other than the cost to do it.

C'mon folks!!   Counterparty is at 10m USD,  we can add the same functionality to IXC!

[cl4ud1u]

Donated 500 ixcoins that vlad gave me 3-4 months ago. He was on a giveaway on the romanian forum.

[markm]

I didn't even know there was a hard fork planned.

-MarkM-

I believe the bip's will cause a hard fork.  They change the rules for adding blocks in certain situations.  We shouldn't take it lightly.  It would be very bad if iXcoin splits in two.

The block number at which they come into effect would be many months into the furure though wouldn't it?

I do agreee though that it is crazy to muddy up the merged mining test with such extraneous stuff.

We need merged mining. BIPs are way the heck less important, not worth aborting the moving to new codebase for.

Basically we should port what IXCoin already was to the new codebase first and make sure that works, before adding new BIPs or coloured coins or anything else that IXCoin doesn't already have/do. Well the memory fix stuff from I0Coin of course, since if it wasn't for the need of all merged mined coins to get that fix we wouldn't be in any hurry to update to new code at all. We don't want to break stuff we just want to fix the RAM problem the merged mined coins all had in common.

-MarkM-

[jamaer]

Are people interested in the Counterparty implementation?

Of course that would be interesting. Why I see IXC promising, is that it has the superb security (through merged mining), but (unlike BTC) still has the flexibility to add easily things developed last 2-3 years.

That said, how are you planning to implement it?

IMO, there are essentially two ways:
1. native to IXC. IXC is the native currency, and all features of Counterparty protocol (apart from "burn" of course)
https://github.com/PhantomPhreak/Counterparty
will be implemented directly to IXC protocol.
2. copy Counterparty directly (i.e., create IXC version of Counterparty).

Possibility 1. (my personal favorite) is very likely technically demanding as it has not been really tried anywhere, and requires a lot of testing AFAI can see. Possibility 2. on the other hand, requires either that we'll have "IXC burn period" some time in the future (or someone comes up with a way of transfering actual XCPs from the bitcoin blockchain to ixcoin blockchain). If I recall reading correctly, there were arguments why there were a specific burn period in Counterparty instead of that you could burn bitcoins forever.

[FrictionlessCoin]

I didn't even know there was a hard fork planned.

-MarkM-

I believe the bip's will cause a hard fork.  They change the rules for adding blocks in certain situations.  We shouldn't take it lightly.  It would be very bad if iXcoin splits in two.

The block number at which they come into effect would be many months into the furure though wouldn't it?

I do agreee though that it is crazy to muddy up the merged mining test with such extraneous stuff.

We need merged mining. BIPs are way the heck less important, not worth aborting the moving to new codebase for.

Basically we should port what IXCoin already was to the new codebase first and make sure that works, before adding new BIPs or coloured coins or anything else that IXCoin doesn't already have/do. Well the memory fix stuff from I0Coin of course, since if it wasn't for the need of all merged mined coins to get that fix we wouldn't be in any hurry to update to new code at all. We don't want to break stuff we just want to fix the RAM problem the merged mined coins all had in common.

-MarkM-

Agree with you that the BIPS or colored coins will have to wait.  That is why I had originally thought of doing this  with the next release of Bitcoin.  But it appears that there is so much legacy here that we are forced to be conservative.

[FrictionlessCoin]

Are people interested in the Counterparty implementation?

Of course that would be interesting. Why I see IXC promising, is that it has the superb security (through merged mining), but (unlike BTC) still has the flexibility to add easily things developed last 2-3 years.

That said, how are you planning to implement it?

IMO, there are essentially two ways:
1. native to IXC. IXC is the native currency, and all features of Counterparty protocol (apart from "burn" of course)
https://github.com/PhantomPhreak/Counterparty
will be implemented directly to IXC protocol.
2. copy Counterparty directly (i.e., create IXC version of Counterparty).

Possibility 1. (my personal favorite) is very likely technically demanding as it has not been really tried anywhere, and requires a lot of testing AFAI can see. Possibility 2. on the other hand, requires either that we'll have "IXC burn period" some time in the future (or someone comes up with a way of transfering actual XCPs from the bitcoin blockchain to ixcoin blockchain). If I recall reading correctly, there were arguments why there were a specific burn period in Counterparty instead of that you could burn bitcoins forever.

(2) ...But no need to burn since IXC is the native currency!   Only issue is that it requires the new 0.8.6 client (due to the OP_RETURN opcode ).

So this port will have all the counterparty features like Betting running on IXC.   

I am really trying my best to move things forward here,  but as you can see with the discussion,  there's so many other moving parts!

[jamaer]

(2) ...But no need to burn since IXC is the native currency!   Only issue is that it requires the new 0.8.6 client (due to the OP_RETURN opcode ).

Clever! Would the client be implemeted directly to the IXCoin client? If all that it requires is the OP_RETURN, then IMO this should be the
first extra feature added to IXC.

I am really trying my best to move things forward here,  but as you can see with the discussion,  there's so many other moving parts!

Yes, I see. In order to keep the ball rolling and your focus on this project, I'll donate 5000 IXC to you (PM me your IXC address).

[FrictionlessCoin]

(2) ...But no need to burn since IXC is the native currency!   Only issue is that it requires the new 0.8.6 client (due to the OP_RETURN opcode ).

Clever! Would the client be implemeted directly to the IXCoin client? If all that it requires is the OP_RETURN, then IMO this should be the
first extra feature added to IXC.

I am really trying my best to move things forward here,  but as you can see with the discussion,  there's so many other moving parts!

Yes, I see. In order to keep the ball rolling and your focus on this project, I'll donate 5000 IXC to you (PM me your IXC address).

Thanks!  The CounterParty code base inclusion would be pretty cool.

[Vlad2Vlad]

Donated 500 ixcoins that vlad gave me 3-4 months ago. He was on a giveaway on the romanian forum.

Ce faci, frate?

I hope you bought yourself some iX if you're giving that away.

Thanks for your help!

[cl4ud1u]

Donated 500 ixcoins that vlad gave me 3-4 months ago. He was on a giveaway on the romanian forum.

Ce faci, frate?

I hope you bought yourself some iX if you're giving that away.

Thanks for your help!

i did. 22000 ixc

[Vlad2Vlad]

Guys, good news:  iXcoin.eu is up and running.


Looks great and it feels so legit to have such a beautiful site up and running.

Thank you, LUKE!!!

[lukeconnell]

Guys, good news:  iXcoin.eu is up and running.


Looks great and it feels so legit to have such a beautiful site up and running.

Thank you, LUKE!!!

Yes it is. Thanks

Now we just need to get all the third party websites out there with iXcoin references to update their link from .org to .eu

Regards, Luke.

[tazman]

Are people interested in the Counterparty implementation?

I haven't heard any feedback on this proposal other than the cost to do it.

C'mon folks!!   Counterparty is at 10m USD,  we can add the same functionality to IXC!

Counterparty and Colored Coins (NUDC) both sound like great ideas for iXcoin to realize its full potential as the "Inter eXchange Coin".  They will produce a niche for iXcoin which very few other coins can compete with.  Once we get everyone upgraded to version 0.8.6.0 we should discuss the pros and cons more so everyone understands what we can do with them, and any potential problems they may bring.  If everyone agrees we can add them to a future update.

[ninjarobot]

Both http://www.ixcoin.co/ and http://www.ixcoin.eu/ look pretty good.

Seems you guys invested a lot of time in rebranding (logo, site) and rebasing (0.8.6.0). Who knows.. maybe IXC will still go places? I'm cautiously optimistic.

I bought a couple of K just in case. Only thing I'm worried about is having all IXC in circulation before fees are ready to take over. If merge mining by the Bitcoin miners stops, IXC hashrate (and network security) will crash. Are there any safeguards in place to prevent this from happening?

Also the fact that most of the monetary base is brought into circulation in just a few years while it has not been widely adopted will cause an huge imbalance in ownership, which can not be healthy for the IXC ecosystem.

[FrictionlessCoin]

Both http://www.ixcoin.co/ and http://www.ixcoin.eu/ look pretty good.

Seems you guys invested a lot of time in rebranding (logo, site) and rebasing (0.8.6.0). Who knows.. maybe IXC will still go places? I'm cautiously optimistic.

I bought a couple of K just in case. Only thing I'm worried about is having all IXC in circulation before fees are ready to take over. If merge mining by the Bitcoin miners stops, IXC hashrate (and network security) will crash. Are there any safeguards in place to prevent this from happening?

Also the fact that most of the monetary base is brought into circulation in just a few years while it has not been widely adopted will cause an huge imbalance in ownership, which can not be healthy for the IXC ecosystem.

You should consider that the majority of the time,  IXC has been merged mined.   So the coin dispersed quite widely among Bitcoin miners.   

If you look at the orderbook for IXC,  you can't find a lot of big sell orders.  That is because there are simply not many big holders left after 3 years in existence.  Supply is actually quite low.

The problem however is on the demand side,  what will create demand for IXC?

[Vlad2Vlad]

From today's Goldman Report:


But the very success of Bitcoin could cause more established players to simply co-opt all the advantages Bitcoin has. Leal writes:

"Just as a flurry of new entrants – such as Square, Groupon, and PayPal - encouraged payment networks and payment processors to develop a mobile payments strategy, we expect traditional payment players to develop digital currency strategies."



Read more: http://www.businessinsider.com/goldman-completely-debunks-all-the-arguments-for-bitcoin-2014-3#ixzz2vnQ87ude


I argue that Western Union et al will not sit around and lose a multi-billion dollar business without a proper fight.  Google and Amazon have proved that launching your own coin is a dud and a waste of time and money.

Is it a far fetched idea for someone like Western Union to embrace a coin identical to Bitcoin, but with a better image, more coin liquidity and also ultra secure, in an attempt to fight off being made obsolete by Bitcoin?

If you were a monopoly like WU, and had billions of dollars, how much would you spend to stay relevant?

Even if I'm wrong about hedge funds and banks coming into this space, in a BIG WAY [and I doubt I'm wrong] and noticing iXcoin, there's an even greater chance that we will soon see the likes of Western Union make a move on coins like iXcoin, because unlike most alts, iXcoin is secure and time tested.

And the fact Bitcoin just surpassed Western Union in daily transactions and Bitcoin just hired 2 big guns to lobby congress and to go global, I seriously doubt Western Union and everyone else will waste more than a few more months contemplating the idea, and in fact, I think they already set everything in motion months ago.