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

ahh, someone snatched that big sell order. If it was around in another wek I would buy it. If you have anymore seller, just list it on pay day, the 28th

Auxpow... It fixes security, but how does it effect the subsidy... I do not understand it.

Quote from: orco#2 on February 25, 2015, 01:24:37 AM

Auxpow... It fixes security, but how does it effect the subsidy... I do not understand it.

AuxPOW is the proof of work function, nothing to do with subsidy. AuxPOW (Auxiliary proof of work) will effectively allow Globalcoin to be merge mined with another SCRYPT coin of higher difficulty, the mining hash rate of those that choose to submit work to both chains is then applied to GLC's network making it stronger.

Concerning the subsidy that would need to be a separate adjustment. Bringing block rewards down to just 1 GLC sounds good to me.

but subsidy and POW are intertwined, so the subsidy would go to the merge mined coin, or pool?

Quote from: orco#2 on February 25, 2015, 03:51:34 AM

but subsidy and POW are intertwined, so the subsidy would go to the merge mined coin, or pool?

AuxPOW function just allows the sharing of the same solutions for mining if the base POW method (scrypt in GLC's case) is the same as another coin. This is facilitated by the miner or pool. So for example a pool would take your hashing and send it to both Litecoin and Globalcoin simultaneously, your hashrate doesn't get split. You get rewarded both coins by the pool, the block subsidy and network of each coin still remain separate.

So it is poolcentric. That sounds terrible. To be at whim of a pool or pools. Those things come a go all the time.

Quote from: orco#2 on February 25, 2015, 02:41:43 PM

So it is poolcentric. That sounds terrible. To be at whim of a pool or pools. Those things come a go all the time.

It's not pool centric at all, you can solo mine and do the same thing. GLC remains the same except for the fact it can accept scrypt hashing solutions from other scrypt based coins so long as they have higher a difficulty. There's a bunch of info out there on AuxPOW and the benefits, take a look at namecoin or dogecoin implementations.

https://en.bitcoin.it/wiki/Merged_mining_specification

http://www.reddit.com/r/dogeducation/comments/2clm3q/qa_session_on_auxpow_aka_merge_mining_confused_on/

Sounds great. How can it be implemented?

Are you serious guys! lol. Make you mind up what algo you want PLEASE! One month X11 now Auxpow, some people want POS, some people don't, some people want a subsidy drop, some don't etc etc

Myself and Orco have been discussing whats best for the future of the coin and have come to the conclusion that we indeed will have to lower the block reward in the next update and decrease the subsidy halving rate to around 2600000 blocks and have a block reward in the region of 1-3 coins per block. This will slow down the amount of coins being generated in one day, reducing inflation.

These changes are to benefit Globalcoin and it's investors.

I am happy to lay down tools on the X11 fork and implement Auxpow instead, I just want everyone to be sure that there isn't any other fancy pancy algo coming out that you will change your mind to next month Wink

I am advertising on a couple of forums etc for a few more experienced dev's, designers, marketers. If you know anyone that might be interested let me know! We will be completely re-skinning the wallet to match the mobile wallet when its released.

There is alot of work to be done and I am only one man. Any help would be much appreciated by the whole community.

In other news a new Evo, SR, Agora style site is being built on the dark net for all your "things"...

Yes GLC is accepted

Thanks for being patient

Edit: Made a start on it last night (turned to morning, turned to afternoon) KGW,AuxPOW,Fixes mostly done just got to amend a few other things etc and I will start testing. I'm going to sleep now its nearly 5pm

17 hr coding sesh... always fun

Perhaps X11 auxpow? Only one other in that space right now.

Cheers!

You know there are X11,13,15 ASICS coming out right?

X11 + PoS in a ratio 50/50 is a variant of the test time. I vote for him Wink

no POS .... like HELL NO!
yes AuxPow ( the VIA code )

flavor options:
scrypt (Yes Scrypt?) ... this is the easiest, least disruptive
blake < my recommendation ... the idea of blake is 1 network all coins merge/aux
groestl (we get on the Digi/Myr pools)
sha256 ... gives tons of HASH potential (most security best for the brand/marketing)

x11 ... who's has merge/aux @ x11 ?? ... I think this is the weakest option
Kcck ... Aux in MAX pools ... weak sause ... but likely to be a good hobby miner network

Quote from: icodestuff on February 25, 2015, 03:47:48 AM

Quote from: orco#2 on February 25, 2015, 01:24:37 AM

Auxpow... It fixes security, but how does it effect the subsidy... I do not understand it.

Bringing block rewards down extends the mining life ... you can leave the max @ 70M just have it take 200 years to mine the remaining 10M

This is why I like BLAKE ... even if the blocks only give 0.00001 doesn't matter all chains are Merged, this concept is already established.
If we can hook up with LTC/Doge/Via/Sys pools ... great ... but my guess ... politics Sad

or copy-paste UIS ... multialgo(like 3) but all AuxPow readymade

================
random

http://liberty.me/
The Global Liberty Community

Quote from: BitcoinNational on March 02, 2015, 06:56:37 PM

no POS .... like HELL NO!
yes AuxPow ( the VIA code )

flavor options:
scrypt (Yes Scrypt?) ... this is the easiest, least disruptive
x11 ... who's has merge/aux @ x11 ?? ... I think this is the weakest option

Unitus currently offers auxPoW on X11. I have it merged on my pool: xpool.ca

I'ts actually the first coin to allow multi auxPoW. You can merge is on all these algos:

Blake256 (8-round)
Skein
Qubit
X11
Yescrypt

That would be a pretty decent option as well.

Quote from: crackfoo on March 02, 2015, 07:19:05 PM

4 MultiAlgo
BLAKE
yeSCRYPT
x11
Qubit (the Myriad pool) -or- Skein (Digi/Myriad pool)

r= 0.1 .... forever
blockspeed = 30 sec.

--
makes production 12.0 coins per hour
every network gets a taste in 2min

... I like this idea ... if the network can't solve SKIP them and to the next network (they then have 90sec to recalculate 'their' difficulty)

... if you really want it to be fun (grab the HVY code) shareholders can vote on reward, speed, and diff recalc
Can you say AWESOME ... Global Consensus

Other than SHA256 Scrypt has the largest hashrate. I would gather we would want to be in the largest potential pool of available hashrate.

As a side note...you do not need permission from litecoin to use AuxPOW with them...you can choose to merge mine any POW coin without them having to "allow" it. Multiple POW coins can be merge mined with any AuxPOW enabled coin.

@Cartman

any AuxPOW enabled coins on SHA256?

Quote from: BitcoinNational on March 04, 2015, 11:50:40 AM

@Cartman

any AuxPOW enabled coins on SHA256?

Devcoin & Namecoin.

Quote from: crackfoo on March 04, 2015, 03:42:47 PM

Quote from: BitcoinNational on March 04, 2015, 11:50:40 AM

@Cartman

any AuxPOW enabled coins on SHA256?

Devcoin & Namecoin.

So you're saying any SHA can be mined in combo with Devcoin & Namecoin?

Blockspeed does not matter?