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

[heavyman]

Have a lot of potential

[jdcer]

 a lot of potential buy some

[orco#2]

70 million coins out in a long time from now...

The subsidy halves every 4.36 months or approximately 131 days.

Next halving is to 25 coins per block in late July.  Lets just say July 21st.  So we can do the math.


By the end of today 42,860,000 GLC will be out.  We have 75 days until the next halving and 108,000 coins are minted a day, so 8,100,000 will be added from now until then.


So On July 21st we will have 50,960,000 GLC in the wild.

So the following 131 days, will produce 54,000 GLC a day.  So in late Nov/ Early Dec, we will halve again and be at 58,034,000.  At that point the subsidy drops to 12.5 GLC per block or 27,000 GLC daily.


April 10th 2015: 61,571,000 out and halves to 6.25 GLC per block or 13,500 GLC a day

August 21st 2015:  63,339,500 out and halves to 3.125 GLC per block or 6,250 GLC a day

January 1st 2016: 64,223,750 out and halves to 1.5625 or 3,125 GLC a day

May 11th 2016: 64,633,125 out and halves to .7813 or 1562.5 GLC a day

September 21st 2016:  64,837,812.5 out and halves to .390625 or 781.25 GLC a day

February 2nd 2017:  64,940,156.25 out and halves to .1953 or 390.625 GLC a day



And so on, so it will have many, many years to get to the end of subsidy.  That last 5 million GLC will take decades.

The big numbers really end about this time next year.


However, with the reduction in supply, prices should see increases as that daily supply number drops over teh coming years/more people begin to adopt crypto currencies and GLC.

It is simply the developers jobs to make sure that GLC is not compromised via obsoleted tech( the Scrypt hash function) or insiders being idiots (aka Worldcoin)


At this point the pieces are in place.  We have a great name and great branding, it is all about the wait and see.



The website should say when it was established.  We are in the top 25 - 50 in regard to that I imagine.  Many others that are in front of us will die out, because they have terrible branding.

Maybe one of the original folks might now, how early this coin was to market?




Anyway, should be a cool ride.

[stevetrac]

how many people will continue to mine after july even now it's cheaper to buy glc than to mine it. 25 coins a block will mean that i will finally stop mining and take a step back

[orco#2]

I think your hash comprises ~1/5 - 1/4 of the network at the moment.  If you leave, then smaller guys will not notice the difference in their personal reward, and the network will move forward.

Now, if the price continues to drop in concert with the subsidy dropping, then Globalcoin goes he way of teh dinosaur.   If the price begins to appreciate, then, the network will stay at the same level or increase in size.


It is all about the market dynamics at that time, which no one an appreciatively predict.

If I still had my Gox money,  would be buying it all.

[stevetrac]

I think your hash comprises ~1/5 - 1/4 of the network at the moment.  If you leave, then smaller guys will not notice the difference in their personal reward, and the network will move forward.

Now, if the price continues to drop in concert with the subsidy dropping, then Globalcoin goes he way of teh dinosaur.   If the price begins to appreciate, then, the network will stay at the same level or increase in size.


It is all about the market dynamics at that time, which no one an appreciatively predict.

If I still had my Gox money,  would be buying it all.

i do not know how all this works really and just do it for fun ,but can you tell me is the number of coins produced each day a fixed number no matter how much hash is thrown at it. the coins i mine are not sold i'm keeping them in hope of better days.

[lavalledeltoro]

DDOS protection and experience with a lot of other coins!

OPEN AND WORK

Come and mine with us!!!

http://glc.multi-pool.eu

 

[SwissMiners]

http://www.swissminers.com/static/swiss-miners-logo.jpg

We have just launched our new pool http://www.swissminers.com also featuring Globalcoin.

No registration required. Mine with your Globalcoin address or your public key for Multipool (private and public keys can be gernerated at site)

Enjoy a high performance Node.js backend and SCRYPT/SCRYPT-N mutlipool/profit based coinswitching. Come in, find out and enjoy mining.

Running Version 1.5.3

[SistaFista]

I am pleased to announce a new service is now live for GLC users to use. The new service is a VPN hosted by blueyvpn.com (Limy Group) who are a well known VPN/S service provider.

http://altcoin.blueyvpn.com

or

http://blueyvpn.com

for more info

Features:

-From 13233 GLC P/M (atow)
-24/7/365 UNRESTRICTED WEB ACCESS!
-99.99% VPN SERVICE UPTIME!
-2048 BIT INTERNET SECURITY GUARANTEED!

[niothor]

I think your hash comprises ~1/5 - 1/4 of the network at the moment.  If you leave, then smaller guys will not notice the difference in their personal reward, and the network will move forward.

Now, if the price continues to drop in concert with the subsidy dropping, then Globalcoin goes he way of teh dinosaur.   If the price begins to appreciate, then, the network will stay at the same level or increase in size.


It is all about the market dynamics at that time, which no one an appreciatively predict.

If I still had my Gox money,  would be buying it all.

How much did you lost on Gox  ?.... sorry for bringing this up!

[orco#2]

it all, 20 btc.

[DigitalHoldings]

Any thoughts on scrypt ASIC devices and possibly hard forking Globalcoin's hashing algorithm to retain GPU miners? As one of the oldest and 0 premine altcoins I think changing to the likes of X11 or Groestl could potentially give Globalcoin the revival it deserves.

I've found the Groestl hashing algorithm to be incredibly well fitting towards the "Global" symbolization:

1) There's no huge leaps in terms of mining advantage from CPU to GPU mining, GPU hashes 5-10 times faster than average CPU for example:
Intel Core2Quad = 1 Mh/s
Radeon R9 280X = 6 Mh/s
Radeon R9 290 = 9 Mh/s

2) Extremely energy efficient, with roughly 10 times scrypt hashing power at 30% reduction in power usage when GPU mining.

3) ASIC resistant.

All of this means everyone has the opportunity to mine without large costs of ASICS and therefore a more Global or decentralized network

[digi123]

Hi all globalcoiners,

My first post.

I think something needs to be done with respect to this coin if it is to have a good future. I understand that there are people working on it however things seem to be going very slowly, any updates to what is happening with it would be appreciated from time to time.

I consider that the coins name is one of its best assets, one of the best named coins available, and its transaction time is very fast.

The developers and the community that use the coins are the key to its success at the moment, but especially the developers and the engineering that they place within a coin which gives the coin its uniqueness and demand.

Dark coin as people can see has great demand because it included something new. I was wondering if the attributes that it has can be coded into globalcoin, or similar.
I have no experience in the coding of these coins so I hope this isn't to much of a silly question.(It maybe that darkcoins attributes are so different that a coin would have to be created that way from its inception)

If developers got serious with this coin I think it can go a long way.

Build on the best things available what people want and what is in demand within a coin. The Groestl hashing algorithm mentioned by DigitalHoldings sounds good.

Anyway please any developers out there that are involved with this coin let us know what your thoughts are and what is being done.

Globalcoin is a great name and can be built on in a big way.

[ozboom]

I think something needs to be done with respect to this coin if it is to have a good future. I understand that there are people working on it however things seem to be going very slowly, any updates to what is happening with it would be appreciated from time to time.

I consider that the coins name is one of its best assets, one of the best named coins available, and its transaction time is very fast.
...
If developers got serious with this coin I think it can go a long way.
...
Anyway please any developers out there that are involved with this coin let us know what your thoughts are and what is being done.

+1 from me!

[DigitalHoldings]

No feedback from devs in over 20 days?

The live network stats website and block explorer have been down for over two weeks

Many of the pools listed are no longer working

coinmarketcap.com is showing stale count for the GLC supply as no website for current coin supply is online for them to use

The websites all have wrong information like 180 million coins when there's 70 million, a new homepage was promised wheres that?

Have devs have abandoned the coin? nothing has been done for months, it's a pivotal time right now with large hashrate ASIC miners just coming onto the scene. In my opinion GLC needs to be among the first coins to swap algorithms over to ASIC resistant GPU friendly proof of work like X11 or groestl otherwise it'll be drowned out among the now hundreds of other scrypt coins and possibly killed off with its currently low hashrate being susceptible to 51% or other attacks. The only thing GLC has going for it now is its age and 0 premine, something needs to be done and soon.

[SistaFista]

No feedback from devs in over 20 days?

The live network stats website and block explorer have been down for over two weeks

Many of the pools listed are no longer working

coinmarketcap.com is showing stale count for the GLC supply as no website for current coin supply is online for them to use

The websites all have wrong information like 180 million coins when there's 70 million, a new homepage was promised wheres that?

Have devs have abandoned the coin? nothing has been done for months, it's a pivotal time right now with large hashrate ASIC miners just coming onto the scene. In my opinion GLC needs to be among the first coins to swap algorithms over to ASIC resistant GPU friendly proof of work like X11 or groestl otherwise it'll be drowned out among the now hundreds of other scrypt coins and possibly killed off with its currently low hashrate being susceptible to 51% or other attacks. The only thing GLC has going for it now is its age and 0 premine, something needs to be done and soon.

Please.... May 11 was my last post (13 days ago) And my grandfather passed away last week and have been a bit busy as you can imagine. I have committed all my spare time to Global Coin (for free) since it was released. Behind the scenes I am talking with many company's about integrating GlobalCoin into there existing payment gateways. As for the website, its pretty much there but has been put on the shelf for the last few weeks due to the above reasons. As for an Algo switch yeah i'm down if the community demands it... will check it out and will update in the next few days on how it is going, I have an idea that could make the switch real easy

[CartmanSPC]

Please make sure you are doing an algo switch for the right reasons. I don't think scrypt asics are a bad thing as they help secure the blockchain with higher hash rates. I suspect the call to switch algo's is more for the GPU miners benefit than anything else.

Maybe I don't understand the reason to switch but I would think that higher hashrates are more desirable than allowing GPU miners to continue being useful.

I don't know how effective a 51% attack is with the newer difficulty adjustment algorithms. Wouldn't buy into it being a reason to switch algos.

I'm sorry to hear about your personal situation. That kind of stuff is hard to deal with but should always take precedence over this or any other type of work. Since they happen to everyone consider expanding your dev team so that 1 or 2 can take time off without there being the perception of "lack of interest". I have noticed a recurring trend that individuals in crypto are less forgiving of outside life issues.

[orco#2]

Sorry to hear that Mr. Fista.


In regard to the algo switch.  Should wholly unnecessary.  Is there are reason to switch other than to show people that the coin is alive?  The algo is not compromised so what is the point?

When the subsidies drop and traders do not have to worry about huge supply coming onto the exchanges, the price should increase.


No reason to chase the hot coin of the month, it will get GLC nowhere in the long run.  If we did that religiously, we would have 90+ billions coins from the Doge pop and now be implementing all the dark attributes.

Globalcoin has what it takes to be successful.  We just need to work on the marketing.


Maybe to can get someone from the community to run it as a semi-full-time job with old timers throwing in some coin for their work?

[orco#2]

MinerMike disappeared and took bopbop.me with him.  What happened to him?

[DigitalHoldings]

First of all @SistaFista I am very sorry to hear of your grandfathers passing, my condolences to you and your family.

Now I'd like to point out that globalcoin is under a timewarp attack and although not as effective as such attacks on the initial kimoto gravity well difficulty algorithm, GLC difficulty (based on initial peercoin algo?) is still dropping while network speed increases. Currently the difficulty is 0.65 when it should be 1+ with the 100 Mhs network. This is done by indecent miners posting invalid block times on the blocks they find to fool the algorithm into rewinding the difficulty, as you can see below:

Block Height: 442550 Block Time: May 24, 2014, 00:09:28 Block Difficulty 0.65236218
Block Height: 442549 Block Time: May 24, 2014, 00:08:37 Block Difficulty 0.64382552 << block timestamp is behind previous block below
Block Height: 442548 Block Time: May 24, 2014, 00:09:55 Block Difficulty 0.64839275
Block Height: 442547 Block Time: May 24, 2014, 00:08:11 Block Difficulty 0.65442726
Block Height: 442546 Block Time: May 24, 2014, 00:06:07 Block Difficulty 0.65442726
Block Height: 442545 Block Time: May 24, 2014, 00:05:27 Block Difficulty 0.65521896
Block Height: 442544 Block Time: May 24, 2014, 00:04:36 Block Difficulty 0.65368963
Block Height: 442543 Block Time: May 24, 2014, 00:04:17 Block Difficulty 0.65444033
Block Height: 442542 Block Time: May 24, 2014, 00:01:34 Block Difficulty 0.6522583 << block timestamp is behind previous block below
Block Height: 442541 Block Time: May 24, 2014, 00:02:45 Block Difficulty 0.6522583
Block Height: 442540 Block Time: May 24, 2014, 00:02:35 Block Difficulty 0.65153202

There's only small amount of hash attempting this attack. These attacks have been on and off for the past few weeks. They attempted a 300+mhs attack around a month ago but abandoned after a few hours.

http://www.coinwarz.com/difficulty-charts/globalcoin-difficulty-chart

Anyone with a large enough hashrate and bad intentions can harm this coin, that is why I posted about making changes. Devs need to atleast upgrade the difficulty algorithm to the likes of digi shield or dark gravity wave v3 to combat such timewarp attacks, along with the clients code base to the latest litecoin which has many improvements.

I have more to say on why switching algos is an option to strongly consider but have to post that later as I have a function to attend shortly.