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

[CartmanSPC]

Aren't difficulty adjustment and algo two different things? Can't the same attack be done with a different algo if the diff adj is not fixed?

[DigitalHoldings]

Aren't difficulty adjustment and algo two different things? Can't the same attack be done with a different algo if the diff adj is not fixed?

Yes, I was assuming if we were to change hashing algorithm that the difficulty adjustment algorithm would also be updated along with the qt clients code base.

So my argument for changing the hashing algorithm is yes in large part for GPU miners here's why:

1. GPU miners are already well established and looking for alternatives since the arrival of ASICS.
2. GPU miners are more decentralized than ASICS (be it initially) based on pricing points alone - $200 gets you mining with a GPU vs thousands$$ for an ASIC
3. The general public can easily obtain GPU's where as ASICS have often had much annoyance with preorders, late delivery etc
4. GPU have other uses, you have options to exit and get some value back (gamers, graphic design etc). ASICS once they're unprofitable they're effectively paperweights no one wants (well in comparison to pricing on 2nd hand GPU market).

There is also the fact that globalcoin doesn't really have anything unique to offer among the now hundreds of scrypt coins. As mentioned before the only thing I see as a positive in technical retrospect for globalcoin is its age of nearly 1 year and 0 premine.

Regardless of whether or not the hashing algorithm is changed the following development wise needs to happen:

1. Update code base to litecoin v0.8.7.1 for better stability, better handling of dust transactions, optimized database and many other general fixes.
2. Update the difficulty adjustment algorithm as the current one is susceptible to timewarp attacks. I believe DarkGravityWave V3 by DarkCoin's dev Evan Duffield is the best of the fixes - here's an overview of DGWv3
3. A functioning block explorer, paper wallet generator and a site that shows current network information is a must

Obviously there needs to be a huge push with marketing and adoption but get the coin technically sound before that.

[digi123]

Hello SistaFista sorry to hear about your grandfather condolences to you and family.

Just like to say regarding Globalcoin as DigitalHoldings has pointed out it has nothing unique to offer, although it has its unique and great name and fast transaction time, its not enough. I really think that implementing the best of other coins is the best way to go and adding its own unique combination of the best things that are MOST DESIRABLE in a crypto coin. Darkcoin has really given what people want, as with CASH you can exchange with anonymity, whether people like it or not any crypto with this as part of its makeup will always move ahead of the rest and be amongst the most desirable coins. Can you please let me know if it is technically possible to make this a part of the make up of Globalcoin. As has been mentioned there are many things that can be considered. I just think that this is just one standout possibility.

Thanks SistaFista for the work you are doing with this coin. Are you the only developer? I hope you have others working with you, and /or other developers may join in to assist your work with this coin. 

[1024KB]

Hello SistaFista sorry to hear about your grandfather condolences to you and family.

Just like to say regarding Globalcoin as DigitalHoldings has pointed out it has nothing unique to offer, although it has its unique and great name and fast transaction time, its not enough. I really think that implementing the best of other coins is the best way to go and adding its own unique combination of the best things that are MOST DESIRABLE in a crypto coin. Darkcoin has really given what people want, as with CASH you can exchange with anonymity, whether people like it or not any crypto with this as part of its makeup will always move ahead of the rest and be amongst the most desirable coins. Can you please let me know if it is technically possible to make this a part of the make up of Globalcoin. As has been mentioned there are many things that can be considered. I just think that this is just one standout possibility.

Thanks SistaFista for the work you are doing with this coin. Are you the only developer? I hope you have others working with you, and /or other developers may join in to assist your work with this coin. 

Just no Embrace asics, leave it as scrypt. Globalcoin doesn't need anonymity, I don't really think that's what its for.

My .02

[ozboom]

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...

Heartfelt support for keeping your priorities - family goes first. What is probably most needed is being well emotionally and spiritually for anything else to truly succeed.

Now concerning your exciting algo note, my 2 cents...

GlobalCoin has great assets: excellent name, mature age, clean reputation. I also believe fresh algo DNA is needed in order to morph this coin into a super-player. Besides sporadic innovation, regular inbreeding and algo updates will be crucial for any coin to keep on top, so it's just a matter of when. I could imagine an announcement that GlobalCoin is now based on Darkcoin with optional anonymity switching (at transaction level or for full wallets), plus added features from other successful coins. Amir and Cody appear to have done an amazing job at rewriting the whole code stack, and betting on their work would be a sensible choice. That would certainly be a bomb... And now would be a good time for a drastic algo change.

Worldcoin appears to be crowdfunding successfully, that could also be a good solution for getting you developer support. On the other hand, if I were a topnotch programmer, I would seriously consider investing a few thousand bucks in GlobalCoin myself and throwing in some months of work in order to come up with a fabulous algo upgrade. That would probably be the investment of a lifetime...

Un abrazo desde Madrid

[orco#2]

This sounds about right.  Let's make changes and be a player.

[orco#2]

I am thinking about bankrolling the development of the upgraded client functionality.

What features should be added if I try and get the client to world class?  Just a list and what coins implement them so I can compile info to get the development team.

Thanks everyone.

[digi123]

As far as I understand there are a few different coins using at least a couple, if not more ways of creating anonymity. It may be a good idea to look at them all and pick the best possible method for Globalcoin and any other features that may enhance the viability and usefulness of this coin to have real use.

Also please consider that the trade $volume of this coin is quite low and the coin can easily drift into insignificance. There is a window of opportunity to turn this coin around into a major player of real significance, and whether anyone likes it or not this has to be implemented with great hast.

[orco#2]

As far as I understand there are a few different coins using at least a couple, if not more ways of creating anonymity. It may be a good idea to look at them all and pick the best possible method for Globalcoin and any other features that may enhance the viability and usefulness of this coin to have real use.

Also please consider that the trade $volume of this coin is quite low and the coin can easily drift into insignificance. There is a window of opportunity to turn this coin around into a major player of real significance, and whether anyone likes it or not this has to be implemented with great hast.

Not specific enough

[digi123]

I wasn't being specific about the coins and development behind them because I am not technical in this area. I haven't a good enough understanding about them. I understand there is Darkcoin, Monero, XC maybe more and I believe there is at least a couple of different methods of anonymity behind them, but please understand I not technically understanding this stuff Just looking from the outside at what I see happening.

Just trying to shine some light on what maybe some possibilities as I see globlalcoin drifting into insignificance and believe it can be given a new lease of life If the right development was put behind it. Its a great named coin, fast transaction, nice amount of coinage.

[DigitalHoldings]

I am thinking about bankrolling the development of the upgraded client functionality.

What features should be added if I try and get the client to world class?  Just a list and what coins implement them so I can compile info to get the development team.

Thanks everyone.

So picking apart the best features from other coins.. well what is there really? different hashing algorithms, proof of stake and anonymous transactions are the only real differentiating features at the moment.

I still think changing to X11 or groestl hashing algo is the way to go. An opportunity for diversified mining for everyone, not just deep pocket ASIC buyers.

Hybrid PoS and PoW could be something to look into... having the ability to simultaneously mine and stake seems somewhat logical actually. Those that want to take a "risk" purchasing mining equipment are rewarded with more coins by PoW whilst those without the capital can earn smaller amounts of coins by simply leaving their wallets running to help the network.

Fully anonymous transactions doesn't really fit in with my view on the "global" sentiment. When I read "Globalcoin" I feel it represents a bright future where money doesn't have borders or restrictions... not a shady means for potentially illegal use cases. But that's just my view, if the majority of the community wants it then by all means implement it.

Would like to see a poll or community voting system for whatever features are proposed before actually implementing them anyway.

Now regarding one of the main things globalcoin should have online right now... a blockchain explorer. I've spoken with a few people that run such websites and if the globalcoin community can put together 0.75 BTC (maybe less now since the price has raised a bit lol) then we can get a very professional feature rich explorer setup and hosted on a VPS for atleast 6 months by unick - here's some examples of his work:

http://hbn.blockx.info
http://mint.blockx.info
http://xlc.blockx.info

Thoughts?

[orco#2]

Those block explorers are great.  I bet I can have a professional basically copy that design but run the globalcoin data for much cheaper.  I might test them out with this small project before going to the client build.

I will probably have the website redesigned and put on a server that I control as well; just so we always have a it up and don;t have it in some yahoos control.


In regard to including the everyman in mining, that is not so much a concern of mine.  Mining should go to an exclusive group and the price should follow.


What you think?

[DigitalHoldings]

Those block explorers are great.  I bet I can have a professional basically copy that design but run the globalcoin data for much cheaper.  I might test them out with this small project before going to the client build.

I will probably have the website redesigned and put on a server that I control as well; just so we always have a it up and don;t have it in some yahoos control.

In regard to including the everyman in mining, that is not so much a concern of mine.  Mining should go to an exclusive group and the price should follow.

What you think?

unick's block explorers also include rich lists, live transactions, exchange data, node information, paper wallet generator and more. The pricing seems to be fairly competitive considering such addons and the 6 months of VPS hosting, the quotes I got from 8 developers were between 0.5 and 2 BTC. unick is a reputable bitcointalk user and has a proven record for maintaining several working block explorers.

Globalcoin's price has no real reason to increase until there are ways to spend the coin. GLC does not to my knowledge have any services/merchants supporting the coin except the VPN hosting through blueyvpn.com which was only recently added. Here's a few things which are easy enough to get online that are a majority of other coins and certainly the big players have:

• Gambling - dicing, spins, lotto, chain selling, roulette, raffles and betting etc
• A gift card shop exchanging GLC for amazon, itunes, game codes etc
• Offline storage methods like the awesome http://cryptocards.co/

Gambling services in particular would add to the GLC economy by leaps and bounds.

I don't think mining should go to an "exclusive group" who can then dictate the pricing of the coin, centralization is what cryptocurrencies stand against is it not? A small group of fat cat miners with ASICS or anyone who has a computer? I think the network would greatly benefit with larger diversity and so would the overall mindset when introducing people to the coin.. "you can earn coins on your home pc" vs "buy this expensive machine to earn coins".. there's literally millions more people that already have computers than those that want to go out and buy ASICS. This is why I like the groestl or X11 algorithms as CPU mining is still somewhat relative with GPU mining only being 5-10x superior in terms of hashing speed.

[1024KB]

Those block explorers are great.  I bet I can have a professional basically copy that design but run the globalcoin data for much cheaper.  I might test them out with this small project before going to the client build.

I will probably have the website redesigned and put on a server that I control as well; just so we always have a it up and don;t have it in some yahoos control.

In regard to including the everyman in mining, that is not so much a concern of mine.  Mining should go to an exclusive group and the price should follow.

What you think?

unick's block explorers also include rich lists, live transactions, exchange data, node information, paper wallet generator and more. The pricing seems to be fairly competitive considering such addons and the 6 months of VPS hosting, the quotes I got from 8 developers were between 0.5 and 2 BTC. unick is a reputable bitcointalk user and has a proven record for maintaining several working block explorers.

Globalcoin's price has no real reason to increase until there are ways to spend the coin. GLC does not to my knowledge have any services/merchants supporting the coin except the VPN hosting through blueyvpn.com which was only recently added. Here's a few things which are easy enough to get online that are a majority of other coins and certainly the big players have:

• Gambling - dicing, spins, lotto, chain selling, roulette, raffles and betting etc
• A gift card shop exchanging GLC for amazon, itunes, game codes etc
• Offline storage methods like the awesome http://cryptocards.co/

Gambling services in particular would add to the GLC economy by leaps and bounds.

I don't think mining should go to an "exclusive group" who can then dictate the pricing of the coin, centralization is what cryptocurrencies stand against is it not? A small group of fat cat miners with ASICS or anyone who has a computer? I think the network would greatly benefit with larger diversity and so would the overall mindset when introducing people to the coin.. "you can earn coins on your home pc" vs "buy this expensive machine to earn coins".. there's literally millions more people that already have computers than those that want to go out and buy ASICS. This is why I like the groestl or X11 algorithms as CPU mining is still somewhat relative with GPU mining only being 5-10x superior in terms of hashing speed.

rather funny you think GPU miners cant mine it if ASICS do. That's what pools are for. Changing the algo is just a flash in the pan way to try to revive a coin. Litecoin is smart and embraced asics, as did bitcoin. Look at that value.

Coins changing Algos just to say , hey we are "x11,Gro" etc is a sign of a weak coin. Leave GLC as scrypt and it will be better for the long term. Currently the network rate is 50MH. ANY gpu miner can mine and still get GLC

[DigitalHoldings]

@1024KB your point does have some truth to it I guess. To be honest I would prefer to see new services and general updates to the client over a hashing algorithm change. I just think there's so many scrypt coins now that it's a tough sell, but if the community can come together with services and a committed development team then Globalcoin will be going places for sure.

By the way the subject of this thread sorta doesn't read as though it's a coin, when I first saw it I thought it was for a group talking about all the coins lol. Any suggestions for a title change?

[GLC] Globalcoin - 1 Year Anniversary - NO IPO, NO PREMINE - 70 Million Coins - [SCRYPT]

[Vlad2Vlad]

 


Why don't you guys do what dark coin did.  They cut the max coins from 88 million to 22 million.  It added instant value to Their coin.


70 million coins ain't that bad, but if you dropped that down to sub 20 million, this coin would jump 10 fold in value overnight on at least a value play.

Good luck!

[pabloangello]

Why don't you guys do what dark coin did.  They cut the max coins from 88 million to 22 million.  It added instant value to Their coin.


70 million coins ain't that bad, but if you dropped that down to sub 20 million, this coin would jump 10 fold in value overnight on at least a value play.

Good luck!

Lol what an idea To be honest.. why not?

[indiguy]

GlobalCoin now has it's own page on http://coinwik.org a wikipedia listing all the alt coins to help you quickly find facts and links about your favorite coin.

http://coinwik.org/GlobalCoin
If you know of other facts and links that can be added to the page, please feel free to update the page.

[venlo]

Why don't you guys do what dark coin did.  They cut the max coins from 88 million to 22 million.  It added instant value to Their coin.


70 million coins ain't that bad, but if you dropped that down to sub 20 million, this coin would jump 10 fold in value overnight on at least a value play.

Good luck!

Lol what an idea To be honest.. why not?

how would you do that with 44million minted already?

[Vlad2Vlad]

Why don't you guys do what dark coin did.  They cut the max coins from 88 million to 22 million.  It added instant value to Their coin.


70 million coins ain't that bad, but if you dropped that down to sub 20 million, this coin would jump 10 fold in value overnight on at least a value play.

Good luck!

Lol what an idea To be honest.. why not?

how would you do that with 44million minted already?

Cut the cap to say 50 million then drop the subsidy to a nominal inflation rate like 1% or 2% per year.

Look at i0Coin. 99% of the coins are mined, there's like 1 or 2 coins per block now and it still has lots of merge miners.

Granted this wouldn't be as effective as it would have been a few months ago.

Just a thought to help increase the scarcity and thus, the value right away.


Cheers!