Bottlecaps 2.1 UPDATE REQUIRED - HARDFORK JULY 4 2014 to 200% Annual PoS

[George.PK]

wow!~The PoS difficulty can only raise at 200% every four hours hence why its trickling up

[1714186374]

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[Dexter12]

addnode=cap.nodes.btcrypt.net:7685

That one worked for me ..
my client hadn't been connected for months and suffered the same problem when I updated

Thank you! That one works

[David Latapie]

I'd like to buy some bottlecaps, but since my wallet doesn't sync, I will abstain until it works

v1.5.2.1-g32a928e-flound

listen=1
addnode=24.249.152.169
addnode=50.137.233.14         
addnode=62.32.16.8
addnode=64.251.188.32
addnode=69.10.44.115           
addnode=69.147.229.226
addnode=72.78.100.7
addnode=89.200.138.143
addnode=92.5.104.102
addnode=108.168.2.51
addnode=173.19.90.231
addnode=192.64.86.238
addnode=192.64.86.238
addnode=193.106.92.5
addnode=cap.nodes.btcrypt.net:7685

[Dexter12]

@David
Try to put only that one in your config:

listen=1
addnode=cap.nodes.btcrypt.net:7685

[PressF1]

@David
Try to put only that one in your config:

listen=1
addnode=cap.nodes.btcrypt.net:7685

I had the same problem but these in my Bottlecaps.conf solved it:
addnode=46.105.118.226
addnode=84.200.17.249
addnode=72.52.231.153
addnode=50.117.78.242
addnode=173.208.172.242
addnode=173.192.180.226
addnode=144.76.33.10
addnode=23.251.65.46

[kelsey]

200% POS well after the fact   as bad as ninja mining  

It will be well over 60 days notice, hardly stealth. I personally didn't own a single CAP until after I started posting in this thread.

Those who do not want to participate can sell at a nice gain. And those that do, are still able to buy fairly cheap..

Also look at the inteview with Sunny King. Even he is realizing 1% is just not enough. Doubt he will go 200%, but this is not PPC!  

Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well

[Tranz]

200% POS well after the fact   as bad as ninja mining  

It will be well over 60 days notice, hardly stealth. I personally didn't own a single CAP until after I started posting in this thread.

Those who do not want to participate can sell at a nice gain. And those that do, are still able to buy fairly cheap..

Also look at the inteview with Sunny King. Even he is realizing 1% is just not enough. Doubt he will go 200%, but this is not PPC!  

Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well

Honestly you make valid points.  I will be sure to update the header with information about the fork.

I posed this to the community, and I left it to them. It responded with almost resounding yes. I think the market has also made it clear this direction it wants to go.

The old network before the fork will still be out there. People are very free to PoW and PoS on that fork for ever.  But I will have no part in that. As there is very little reason to buy/save/use "that" coin, when the main PoS coins does just about the same thing.

Thanks for your opinion. I am sure you are not the only one that shares it.  But at this point, I am moving forward, even If I am the only one on this new fork...  

[presstab]

Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well

Not sure what is "on the fly" about this.  The community supported this, the market supported this, and it was announced way in advanced.  Definitely not a scam in my book, just reviving a neglected coin with fun new features.

[kelsey]

200% POS well after the fact   as bad as ninja mining  

It will be well over 60 days notice, hardly stealth. I personally didn't own a single CAP until after I started posting in this thread.

Those who do not want to participate can sell at a nice gain. And those that do, are still able to buy fairly cheap..

Also look at the inteview with Sunny King. Even he is realizing 1% is just not enough. Doubt he will go 200%, but this is not PPC!  

Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well

I posed this to the community, and I left it to them. It responded with almost resounding yes. I think the market has also made it clear this direction it wants to go.

Obviously but do you think they made the decision based on whats good for the coin/cryptos or simple greed? hey everyone do you want 200% interest or not  ..........

 

[Tranz]

200% POS well after the fact   as bad as ninja mining  

It will be well over 60 days notice, hardly stealth. I personally didn't own a single CAP until after I started posting in this thread.

Those who do not want to participate can sell at a nice gain. And those that do, are still able to buy fairly cheap..

Also look at the inteview with Sunny King. Even he is realizing 1% is just not enough. Doubt he will go 200%, but this is not PPC!  

Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well

I posed this to the community, and I left it to them. It responded with almost resounding yes. I think the market has also made it clear this direction it wants to go.

Obviously but do you think they made the decision based on whats good for the coin/cryptos or simple greed? hey everyone do you want 200% interest or not  ..........

 

I think both for sure.

[sandpaper]

Is the main download in the OP the most up to date version for windows? I only ask because I see the commits, but am unsure if binary's are also made.

Thanks

[presstab]

Is the main download in the OP the most up to date version for windows? I only ask because I see the commits, but am unsure if binary's are also made.

Thanks

There is no release yet. You would have to compile it yourself.  I think Tranz mentioned that he is going to try and get a beta version of the wallet released soon.

[Maverick_br]

 Tranz I need help please I made a withdrawal in may 1 from the pool but in my wallet the transaction still unconfirmed Am I in the wrong fork ?

My wallet version: v1.5.2.0-g32a928e-caps

This is the transaction details

Status: 0/unconfirmed
Date: 5/1/2014 13:05
From: unknown
To: EzbBduk8UGKjUwFDqfqMJbbvHRzSpK9yxw (own address)
Credit: 144.775239 CAP
Net amount: +144.775239 CAP
Transaction ID: 6ab828069259aaa78dcc92ca16122d6fc3e586f8e1bdb16d2d27841f3071e70f

thanks

[Tranz]

Tranz I need help please I made a withdrawal in may 1 from the pool but in my wallet the transaction still unconfirmed Am I in the wrong fork ?

My wallet version: v1.5.2.0-g32a928e-caps

This is the transaction details

Status: 0/unconfirmed
Date: 5/1/2014 13:05
From: unknown
To: EzbBduk8UGKjUwFDqfqMJbbvHRzSpK9yxw (own address)
Credit: 144.775239 CAP
Net amount: +144.775239 CAP
Transaction ID: 6ab828069259aaa78dcc92ca16122d6fc3e586f8e1bdb16d2d27841f3071e70f

thanks

I don't see that in the block explorer. I would ask the pool to resend.

[Hilux74]

200% POS well after the fact   as bad as ninja mining  

It will be well over 60 days notice, hardly stealth. I personally didn't own a single CAP until after I started posting in this thread.

Those who do not want to participate can sell at a nice gain. And those that do, are still able to buy fairly cheap..

Also look at the inteview with Sunny King. Even he is realizing 1% is just not enough. Doubt he will go 200%, but this is not PPC!  

Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well

I posed this to the community, and I left it to them. It responded with almost resounding yes. I think the market has also made it clear this direction it wants to go.

Obviously but do you think they made the decision based on whats good for the coin/cryptos or simple greed? hey everyone do you want 200% interest or not  ..........

As someone who has been mining CAP off and on since it was called BOT (and sold it all at .00001 like a week before the new plan...damnit!) I was happy to see the changes and revitalization.  This cool coin has new life which is 1000x better than someone making another coin named after a @^%#ing colour or a country...

[Tranz]

Commits for the night:

Clicking on Encryption Icon will unlock wallet for mint:
https://github.com/Tranz5/bottlecaps/commit/ee47e8f820572063025f18c6e164aa03199ec783

Added Staking Icon (mouseover will give simple information. Clicking will give extended PoS
info):
https://github.com/Tranz5/bottlecaps/commit/e26b3b9c10e6db93c62b21a89b828e4a5d224132

Add -walletnotify:
https://github.com/Tranz5/bottlecaps/commit/4a99f9c099ec2df3bc459d1d49c021c0f9335ebf

Add -newtxnotify:
https://github.com/Tranz5/bottlecaps/commit/58dd3def5631dbb955dc0e17634d772bf60cf662

Add -confirmnotify:
https://github.com/Tranz5/bottlecaps/commit/3bc938d58ee6232fa048a437ef7543181ad714d7

Add -powblockfoundnotify and -posblockfoundnotify:
https://github.com/Tranz5/bottlecaps/commit/6c77880d28a59bad2e8ee906373c3462b930baa0
https://github.com/Tranz5/bottlecaps/commit/1da0e1c3d1b2672517fba18f9df0a362269f7a20

Fix resendtx:
https://github.com/Tranz5/bottlecaps/commit/5c1022dde9bb05d8e4e34ffb4939744a6acd9844

ScanForWalletTransactions fix:
https://github.com/Tranz5/bottlecaps/commit/e3a5059c18fe5f6e104ec868e8ba9af374603363

Do not write to wallet during LoadWallet:
https://github.com/Tranz5/bottlecaps/commit/7d2d545d20694cbb932bffe416a055f70c809f8f

Missed commit for UnlockForMint:
https://github.com/Tranz5/bottlecaps/commit/1284d768a88fd027a0ee544114278fb1ee4d60a3

Add autosavings:
https://github.com/Tranz5/bottlecaps/commit/5490d32ca7e996058f52fc470bae0dfa26a32360


Just a few commits left and I will release a beta version, maybe tomorrow night.

[goodhopes]

Tranz how exactly will the fork work?  Will aged blocks from before the fork have the new rate applied to them, or only blocks with block time after the fork?

All blocks eligible for stake, will receive the new maturity time and reward at time of fork.

Does this mean the hard-fork resets all coin age to zero for stake weight and maturity?

It means all inputs will be staking using the new rules after the hard fork.

Yes, but that could be with or without a carry over of accrued age.

It is still not clear to me, if the Coin-Age is resetted after hard fork or not?

[Rakete4]

200% POS well after the fact   as bad as ninja mining  

It will be well over 60 days notice, hardly stealth. I personally didn't own a single CAP until after I started posting in this thread.

Those who do not want to participate can sell at a nice gain. And those that do, are still able to buy fairly cheap..

Also look at the inteview with Sunny King. Even he is realizing 1% is just not enough. Doubt he will go 200%, but this is not PPC!  

Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well

I posed this to the community, and I left it to them. It responded with almost resounding yes. I think the market has also made it clear this direction it wants to go.

Obviously but do you think they made the decision based on whats good for the coin/cryptos or simple greed? hey everyone do you want 200% interest or not  ..........

 

I think both for sure.

Hey I'm still a newbie but please do not overread my post! I have been following Proof-of-Stake coins for quite a while. Here is what I have to say:

I think the discussion whether PoS reward should be 1%, 100%, 200% or whatever misses the point that the height of the PoS reward must be seen only in comparison to the PoW reward. The rest is just numeric illusion, i.e. psychology.

And the importance of the PoW component in PoW/PoS-coins is highly underestimated. It is for coin distribution! Coins like Nxt, Mintcoin, Blackcoin and now XC are very similar to pyramid schemes, because there was either no PoW or only for a very short time.

In Hobonickels and Bottlecaps there is permanent PoW mining, which is good. However, the PoW component is completely unresponsive to the market. Newly mined coins flood the market when there is no demand, and that suppresses the price. This happened to both coins until Tranz stepped in.

So why not try a whole new approach, the opposite that Peercoin is doing:

Lets reduce the PoW reward if the PoW difficulty goes down, and increase PoW reward when PoW difficulty rises.
This should have a stabilizing impact on the price.

So for example with factor 16 like Peercoin, but with the opposite effect:

PoW Difficulty = 0,625 => 5 Coins mined per Block
PoW Difficulty = 10  => 10 Coins mined per Block
PoW Difficulty = 160 => 20 Coins mined per Block
PoW Difficulty = 25600 => 40 Coins mined per Block

As PoS reward I would suggest 10%. This should be enough to incentivise Minting to secure the network, but PoW would be crowded out only very slowly. With 200% PoS reward, we would effectively become like Mintcoin, Nxt, Blackcoin etc. very soon. I doubt that we really want that.

This design would stabilize the value of Bottlecaps. Low price => less inflation; higher price => more inflation.

Maybe such a coin exists already, but there seems to be none of the more prominent coins having such a design.

If we go with 200% PoS, and keep PoW as it is, I predict that we will see a flash in the pan when Tranz publishes the new client-version and around the time of the hardfork, and then Bottlecaps will continue the downpath.

[Rakete4]

With that PoW design, the header of the thread should be changed to "Stable value design coming soon - Bottlecaps first coin to reduce price volatility".

[Rakete4]

I may also cite Vitalik Buterin, who criticized the same thing about Primecoin back in July 2013 when Primecoin was launched.

http://bitcoinmagazine.com/5635/primecoin-the-cryptocurrency-whose-mining-is-actually-useful/

Second paragraph from bottom:

There are some places where Primecoin missed some serious opportunities for improvement. First of all, the self-adjusting block reward was intended to be a “more natural simulation of gold’s scarcity”. However, in practice it does the exact opposite. The desirable property that gold has is that its supply at least somewhat increases with its value; if the gold price shoots past $5,000, mining opportunities will become profitable that were not profitable before, increasing the rate at which new gold is mined and eventually making the supply go up, partially counteracting the price shock. Here, if the price goes up by a factor of ten, the difficulty will shoot up significantly as well as more miners move in, leading to… a reduction in the Primecoin generation rate. Thus, instead of adding the negative feedback mechanism inherent in gold, Primecoin instead creates a positive feedback mechanism that exacerbates the problem of volatility. Also, Primecoin could have set up its exponential adjustment algorithm to have a much longer period – reaching 86.5% adjustment after two months, for example, instead of a week. This is one innovation that would also at least somewhat stabilize the value of the currency by generating more coins when interest goes up, but unfortunately so far no currency has tried this; Primecoin, despite all of its other improvements, missed the chance to be the first.