[GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT]

[icodestuff]

Those all sound reasonable ..

So, how do we proceed ??
Who holds the 'keys to the kingdom" ??
SistaFista or someone else ??

Triff ..

That's the beauty of open source, nobody really holds the keys to the kingdom; anyone can make changes and we as a community can then branch off. All we need is a hard fork and the community to rally behind the new code.

https://github.com/CryptoParts/GlobalCoin

[1715578924]

1715578924

[1715578924]

1715578924

[orco#2]

But pos is not ideal.  4% inflationary pressure kind of sucks.  It is exponential and purchasing power is decreased for all but the ones hoarding and minting.  Every 5 years you lose over 1/5 your purchasing power.  I like it as a security feature I think, but as a general rule economics wise I do not.

[CartmanSPC]

AuxPOW

 

[orco#2]

Lets do it.  Should we use the guy I was talking to or do you guys know someone.  Lets pool some cash  and we can have a legitimate property in the space.

[Triffin]

Lets do it.  Should we use the guy I was talking to or do you guys know someone.  $500 a piece and we can have a legit property in the space.

Maybe post a RFP on the "Services" board with what's to be done

https://bitcointalk.org/index.php?board=52.0

See what sort of response we get ..

Used to be several 'coders' offering services
Here's one lead from awhile ago ..

https://bitcointalk.org/index.php?topic=777604.0

and another "dev for hire"

https://bitcointalk.org/index.php?topic=660051.0

With the price of GLC so low ..
A developer group may just buy in vs charging a fee ..
They take a stake .. Make some progress .. Price goes up ..


Triff ..

[orco#2]

The Altcoin Guys look great for what we want.

I will get a quote.  I mean, it seems they can do everything we want.

[marcoman22]

The Altcoin Guys look great for what we want.

I will get a quote.  I mean, it seems they can do everything we want.

If he prove its worth then it will be great.

[orco#2]

In regard to the POS, here is a chart that shows how many years it will take GLC to lose 1/2 of its value in years, based on POS reward.  So in an average life of 82 years, GLC would lose 78.44% of its purchasing power. Obviously that is most notable in 17 year increments.  I think POS is cool, but only if the reward is much less.  I honestly would prefer to avoid it all together, because it forces you to adopt a centralize infaltion scheme like the federal reserve to manage boom and bust cycles.  Which may or may not be a bad thing.  but when you get into this, there perhaps should be institutional rules of GLC that I do not know if we should go down that path. maybe we should.


Rate        Actual Years   
0.25%       277.605   
0.5%          138.976   
1%          69.661   
2%          35.003   
3%          23.450   
4%           17.673   
5%         14.207   
6%          11.896   
7%          10.245   
8%           9.006   
9%          8.043   
10%          7.273   
11%          6.642
12%          6.116   
15%       4.959   
18%           4.188   
20%           3.802   
25%           3.106   
30%        2.642   
40%      2.060   
50%           1.710   
60%           1.475   
70%           1.306   

[orco#2]

So we have a RFQ out to Engine IT, The Altcoin Guys, and Valzador.

Hopefully we can choose a vendorand have the work done by the next subsidy halving, so that the changes can be implemented on that block, or before really.  There are so many changes that GLC will be the same in name and coins only, so it does not matter when the new client is released.


The next block subsidy is a tentative deadline, pending accepting a vendor.

[Youghoor]

In regard to the POS, here is a chart that shows how many years it will take GLC to lose 1/2 of its value in years, based on POS reward.  So in an average life of 82 years, GLC would lose 78.44% of its purchasing power. Obviously that is most notable in 17 year increments.  I think POS is cool, but only if the reward is much less.  I honestly would prefer to avoid it all together, because it forces you to adopt a centralize infaltion scheme like the federal reserve to manage boom and bust cycles.  Which may or may not be a bad thing.  but when you get into this, there perhaps should be institutional rules of GLC that I do not know if we should go down that path. maybe we should.


Rate        Actual Years   
0.25%       277.605   
0.5%          138.976   
1%          69.661   
2%          35.003   
3%          23.450   
4%           17.673   
5%         14.207   
6%          11.896   
7%          10.245   
8%           9.006   
9%          8.043   
10%          7.273   
11%          6.642
12%          6.116   
15%       4.959   
18%           4.188   
20%           3.802   
25%           3.106   
30%        2.642   
40%      2.060   
50%           1.710   
60%           1.475   
70%           1.306   

If this trend will follow that it will be good for the future of GLC.

[orco#2]

I am in the same boat.  Wish I had gone to school for programming and I could do this stuff myself.

[BitcoinNational]

AuxPOW

 

and that's all you need
AuxPOW +small reward ... like 1 global/block

[orco#2]

Only Engine-IT has responded to the request for quotation.  Anyone else know a developer who can make these changes happen?

[CartmanSPC]

Only Engine-IT has responded to the request for quotation.  Anyone else know a developer who can make these changes happen?

You could try ahmed. He is the main dev for DGC and recently (successfully) forked their blockchain to support multi algos. Don't know if he has the availability (time) to help.

[icodestuff]

Some updates were pushed to the github repo. Looks like general fixes, haven't had the time to actually go through; would be nice if the developers could post here.

[Vlad2Vlad]

and that's all you need
AuxPOW +small reward ... like 1 global/block

Bingo!  Tired of seeing so many great name coins with way too much inflation and dilution!

Plus the added security would be great!

[orco#2]

That is what I want to see the low reward and pushing the subsidy halving rate out for a longer period of time to keep miner interest.  Auxpow sounds great as well, but so long as. We retain miner interest for next 5 to 20 years, we should be able to build a Globalcoin into a useful product.

I hope the fixes being worked on are the fundamentals, the image set, and block reward.  After that, mobile wallets!

[icodestuff]

From cryptsy chat 5 days ago

Parts:   GLC dev here
Parts:   its up to the community to vote, ive been away for a bit due to my grandfather passing but im back and I will try my best to get GLC back near the top
Parts:   can always buy GLC its cheap and when i drop x11 on that shite and drop the subsidy and announce some partners..... magic will happen

I for one do not want X11, let's go simple with AuxPOW and lower subsidy; that solves security and inflation concerns no?

[orco#2]

Sound good.  lets do it!

[crackfoo]

Heya

Just FYI that we're mining GLC on our multipool: www.xpool.ca and miners have the option to keep their GLC when it gets mined just by entering your GLC address in your user settings.

Cheers!