Gold Coin (GLC) Info Thread - The Gold Standard of Digital Currency [NEW THREAD]

[ivanlabrie]

if you want supporter for this coin then upload the source immediately online again and we kick you as developer out of this coin. We make all together and not only you decide whats with the source code man. How can we protect the code from such idiots ?

Fork it, and this time add more useful features.

[Lauda]

whats with the source code, today morning it was online on github and now not anymore, but I have it in the cache in my firefox and what I see now is that you changed the variable "max_money" to about more as 5.000.000.000 . Whats up now with the source ? Take it online and make a original from source code or you are a scammer man.

yep it seemed to gone closed source when someone spotted the number of coins and posted it here.

well now its actually unlimited coins (from microguys himself via chat).

so "closed source" "unlimited coins".....hmmm sound legit 

yeah that's a "bug", there is no max amount of coins generated 

[Tony116]

so whats the retarget time on GLD, I see the network has a low hash rate but diff is still high

yeah, they need to fix the retarget. pissed me off about the client

do you know how much blocks it takes to change?

In the new update diff will re-target every 60 blocks.

do you have update client sir?

[thekidcoin]

// GLDcoin: maximum of 5,379,269,550 coins in a single wallet... this value does not dictate maximum number of coins.

static const int64 MAX_MONEY = 21000000 * COIN;
Maximum amount (in satoshi) allowed anywhere.

[MicroGuy]

so whats the retarget time on GLD, I see the network has a low hash rate but diff is still high

yeah, they need to fix the retarget. pissed me off about the client

do you know how much blocks it takes to change?

In the new update diff will re-target every 60 blocks.

do you have update client sir?

The new client is currently being rigorously tested on a private testnet and will be released once we're confident it's functioning properly.

[Stouse49]

// GLDcoin: maximum of 5,379,269,550 coins in a single wallet... this value does not dictate maximum number of coins.

static const int64 MAX_MONEY = 21000000 * COIN;
Maximum amount (in satoshi) allowed anywhere.

The above code is from Bitcoin, where the maximum amount is defined as 21 million.  

Here is the code that determines the mining reward from each block (from the bitcoin source code: main.cpp line 1096):

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    int64 nSubsidy = 50 * COIN;

    // Subsidy is cut in half every 210000 blocks, which will occur approximately every 4 years
    nSubsidy >>= (nHeight / 210000);

    return nSubsidy + nFees;
}

Here we see that there is no reference to MAX_MONEY.  How can that be?  Since GetBlockValue is used everytime a new block is created, how does the bitcoin code know when to stop generating coins?  As it turns out it is the GetBlockValue function that determines the maximum money supply, not MAX_MONEY.  For bitcoin, the total bitcoin supply (which is the sum of the result of GetBlockValue for every block that will ever be mined) can be simplified as:



where y is an interval of about 4 years.  All the coins which follow the idea of halving rewards every number of years will have their maximum supply governed by the same type of equation.  Halving rewards puts a upper limit on coin generation based on the math.  A good coin developer will make sure that the GetBlockValue and MAX_MONEY sections of the code are in agreement.

Unfortunately, for the current version of GoldCoin, there was not agreement between MAX_MONEY (100 million) and GetBlockValue:


You guys are smart enough to do the math here.

[coinerer]

Source code is here (again ?) https://github.com/goldcoin/gldcoin/ and is visible at this moment.

Code of main.h has changed "a day ago" https://github.com/goldcoin/gldcoin/blob/master/src/main.h
Code of main.cpp has changed "3 days ago" https://github.com/goldcoin/gldcoin/blob/master/src/main.cpp

I would like to know, if somebody can explain, what are the critical parts in this (and other) files which are important to distinguish this GldCoin from all other coins. After I could continue explore and/or control code further.

Especially I would like to read explanation of MicroGuy as moderator of all new changes, and from akumaburn as developer or from some other members of the team.

[Hydroponica]

Code:

nSubsidy = Calculate(400,julyFork,2,8,nHeight) * COIN;

Block reward lowering to 400.

Code:

static const int64 nTargetTimespan = (2 * 60 * 60);// Difficulty changes every 60 blocks
static const int64 nTargetSpacing = 2.0 * 60;

Diff will adjust ever 60 blocks, to keep it appearing profitable on CoinChoose.

Max adjustment will be 141%.

Most of the code looks unfamiliar to me. Also looks like GLD started as a copy/paste feathercoin. Anyways, in there somewhere, you'll also find, max coins, and block time

[coinerer]

This is from Readme.md https://github.com/goldcoin/gldcoin/blob/master/README.md on date 7th of July 2013.


GoldCoin (GLD) - an improved version of Litecoin using scrypt as a proof of work scheme.

    2.5 minute block targets up till block 30500
    2 minute block targets there after
    504 blocks per difficulty retarget up to block 30500
    60 blocks per difficulty retarget thereafter

Block rewards in order:

    200 Block @ 10000 GLD
    2000 Blocks @ 1000 GLD
    24000 Blocks @ 500 GLD
    262800 Blocks @ 400 GLD ...
    262800 Blocks @ 8 GLD
    Total Blocks: 26310500
    The default ports are 8121 (connect) and 8122 (fson rpc)



I hope they would leave unchanged total number of coins from this data:  about 123 millions.

[kelsey]

The new client is currently being rigorously tested on a private testnet and will be released once we're confident it's functioning properly.

reads; once we've got our fill of premine for gldcoin take 2 lol

[Hydroponica]

You guys should just check out MasterCoin

https://bitcointalk.org/index.php?topic=242406.0

[jackjack]

Did they really lower the block reward?
Fucking scammers

[Mr.V]

they should have just started a new coin from scratch I tell you, one tht was fair from start to end

[MicroGuy]

I would like to know, if somebody can explain, what are the critical parts in this (and other) files which are important to distinguish this GldCoin from all other coins. After I could continue explore and/or control code further.

Especially I would like to read explanation of MicroGuy as moderator of all new changes, and from akumaburn as developer or from some other members of the team.

The repository is in the process of being updated.

As stated previously, we inherited the current client distribution and are working to repair it in regards to the client sync issues, litecoin alert message, and infinite coin generation. Currently the coin generation rules are "stuck" at a block reward of 500 for infinity. This is something we inherited and are working to resolve in a manner that will bring long-term viability to the coin. The new rules will have a gradual reduction of block reward and a cap on total coin output after an extended period of time.

Anyone interested in actually contributing to the project is welcome to register for the forum and participate in the discussion including the member's only section which is not viewable to the outside World.

Thanks for everyone who is supporting Goldcoin! The future is looking brighter and brighter!  

[kelsey]

Anyone interested in actually contributing to the project is welcome to register for the forum and participate in the discussion including the member's only section which is not viewable to the outside World.

oh you forgot to add except for anyone that questions you.

[jackjack]

Microguy:
Block reward from 500 to 400: do you confirm?

[thekidcoin]

Ahh I see it didn't halve or anything.  Good deal then if thats fixed.

[Sting17]

Like MicroGuy has said we are working extremely hard to iron out all the bugs to do with removing the lite coin prefix. We have finalised a coin generation plan and hope to launch all details and new client very soon.

We will not release this until we are 100% satisfied. Everyone in the GOld Team thanks everyone for eir patience.

[MicroGuy]

There have been a few times here where people have asked, "What makes Goldcoin different? What makes it better than the other coins?". So I had some extra time this morning and decided to write this post.

https://www.gldtalk.org/index.php?topic=191.0

[wompeter]

Your post really fails to address why it's different.

Saying "A genuinely unique coin not just another litecoin clone" in a blog post doesn't make it true.   Nothing you point out is meaningfully different.