[ANN] Announcing Galaxycoin - GLX, the new PoW/PoS coin, no premine!

[minus]

GalaxyCoin is now listed on Coins-E
https://www.coins-e.com/exchange/GLX_BTC

Cheers

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[Vlad2Vlad]

GalaxyCoin is now listed on Coins-E
https://www.coins-e.com/exchange/GLX_BTC

Cheers

Awesome but the bid and ask are $0.  No price whatsoever.

[Vlad2Vlad]

This is a nice coin, very distinct compared to the others

I'm curious, what makes it distinct?  TIA.

what makes it distinct is mainly the diff algorithm. It uses a new algorithm so the diff instead of fixed with the hashrate, it oscillates around the value corresponding to the hashrate. This roller coaster way of the diff makes it possible to mine solo at a relatively high hashrate even without a mining pool. But it also causes problems like high orphans especially during the low diff phase.

I am not sure this algorithm is superior to others, but it's a nice experiment I guess. I can mine 5-6 blocks per hour by solo mining it, which is not bad.

Also it is a PoW/PoS coin, and I already received a couple of PoS blocks, of 0.05-0.10 each.

How many coins in a block?  What rig snd what MH are you getting?

What do you mean, I thought PoW and PoS was just code to stabilize the code.  Inure saying this coins is already worth between 5 and 10 cents?   If so on what exchange?  And why are only the PoS coins worth that, aren't the PoW coins worth the same?

Sorry, I'm not very computer literate and I'm new and I launched my own coin and it was coded all wrong it still doesn't work so I'm trying to learn all this.  I tried doing a diff that was smooth but also with some oscillation (mine was so smooth it didn't need PoS) and threw in Golden Blocks (I had never heard of super blocks before) to make 12 random fun lotteries worth 10,000 coins every 2 hours compared to 49 coins every 70 seconds.  But the blocks don't work so nobody cares about the coin.

If you could answer the questions at the top of this post I'd appreciate it so much.

64 coins in a block, my hashrate about 1.2-1.3Mh/s.

PoS is like interest in the bank. 0.05-0.10GLX is what I get for PoS blocks, not much but will get more over the time.

Random blocks you can insert any time, not related to the diff, good examples include DMD and STR, all PoW/PoS with random blocks.

Ok, thanks, what GPU card(s) so you have?  My rig will have like a $150 Asus Radeon GPU.  Not every high end.  What do you think?  Thanks.

[robolove]

GalaxyCoin is now listed on Coins-E
https://www.coins-e.com/exchange/GLX_BTC

Cheers

Awesome but the bid and ask are $0.  No price whatsoever.

What did you expect? It is a free market. The price is determined by the buyers and sellers.

[Vlad2Vlad]

GalaxyCoin is now listed on Coins-E
https://www.coins-e.com/exchange/GLX_BTC

Cheers

Awesome but the bid and ask are $0.  No price whatsoever.

What did you expect? It is a free market. The price is determined by the buyers and sellers.

I know.  Hard to determine a price for your 13,000 coins when there's no bid.

[flyingcat]

GalaxyCoin is now listed on Coins-E
https://www.coins-e.com/exchange/GLX_BTC

Cheers

Awesome but the bid and ask are $0.  No price whatsoever.

What did you expect? It is a free market. The price is determined by the buyers and sellers.

I know.  Hard to determine a price for your 13,000 coins when there's no bid.

wow great... last trade at 0.000005, very low price IMO, I will buy some there. Once it goes to cryptsy, price will be a lot higher. It is in the 2nd in cryptsy's future list...

[arlington]

This is a great coin to mine. We are told by cryptsy that it is on their list. Hope soon they will add it.

Arlington,

Do you need to do a hard fork to change the diff retarget.  Your number choices are all great but I think if you go from retarget from the average of every 10 blocks to average of every 21 blocks you'd solve a lot of your orphaned coin issues and still keep enough oscillation to make the coin fun.

Just an idea.  

Also, you're doing a flat 8 year deal and I did a flat 7 year deal but people are flipping out about after those years are over the coin will have serious issues with security or something like that.  How did you get around that issue cause I didn't see it on your first page or are some people just clueless?

I mean, ixCoin has less than 18 months left of mining left in it and then that's it and I don't see anyone flipping out about it.  I'm not a coder so I don't understand these things plus i'm new and i'm trying to learn.  TIA.

Vlad interesting ideas... I don't want to change GLX' parameters for now. It's running great, of course it has some issues about the orphans, we'll see if there are any ways to reduce it. thanks for your suggestions.

[arlington]

GalaxyCoin is now listed on Coins-E
https://www.coins-e.com/exchange/GLX_BTC

Cheers

great, thanks!

[Vlad2Vlad]

This is a great coin to mine. We are told by cryptsy that it is on their list. Hope soon they will add it.

Arlington,

Do you need to do a hard fork to change the diff retarget.  Your number choices are all great but I think if you go from retarget from the average of every 10 blocks to average of every 21 blocks you'd solve a lot of your orphaned coin issues and still keep enough oscillation to make the coin fun.

Just an idea.  

Also, you're doing a flat 8 year deal and I did a flat 7 year deal but people are flipping out about after those years are over the coin will have serious issues with security or something like that.  How did you get around that issue cause I didn't see it on your first page or are some people just clueless?

I mean, ixCoin has less than 18 months left of mining left in it and then that's it and I don't see anyone flipping out about it.  I'm not a coder so I don't understand these things plus i'm new and i'm trying to learn.  TIA.

Vlad interesting ideas... I don't want to change GLX' parameters for now. It's running great, of course it has some issues about the orphans, we'll see if there are any ways to reduce it. thanks for your suggestions.

Good luck with your coin man, you've got a great attitude (unlike me) and I have a good feeling about your coin.  Besides mining my coin I'm hoping mine hours especially since mine still has code problems.

Good luck.

[Vlad2Vlad]

GalaxyCoin is now listed on Coins-E
https://www.coins-e.com/exchange/GLX_BTC

Cheers

Awesome but the bid and ask are $0.  No price whatsoever.

What did you expect? It is a free market. The price is determined by the buyers and sellers.

I know.  Hard to determine a price for your 13,000 coins when there's no bid.

wow great... last trade at 0.000005, very low price IMO, I will buy some there. Once it goes to cryptsy, price will be a lot higher. It is in the 2nd in cryptsy's future list...

How do you send money to cryptcy or do you just send other coins from your home computer?  Let me know when you see any GLX that cheap cause at that price I'd buy some too.  I don't want a lot. 30,000 coins would be good.

I'm expecting a massive explosion in alt coins by next year and all or most alt coins will go up so any decent looking coin I'm looking to buy or mine but right now I have no miners.  I've got some on order.

[flyingcat]

You can get some GLX at coins-e.com, not many sells there though, pretty strong buying.

I'd wait for cryptsy. It's on the No.2 of their future list.

[Vlad2Vlad]

You can get some GLX at coins-e.com, not many sells there though, pretty strong buying.

I'd wait for cryptsy. It's on the No.2 of their future list.

Great, thanks.

[Vlad2Vlad]

I downloaded the wallet how do I solo mine.  There's no option on the Wallet to mine?

Thanks.

[Xosihc]

You can get some GLX at coins-e.com, not many sells there though, pretty strong buying.

I'd wait for cryptsy. It's on the No.2 of their future list.

Might I ask, how do you see cryptsy's future list??

Thanks!

[sam53]

somewhere in litebonk's forum, do a search for the forum, then search bitjohn.

[flyingcat]

this is a great coin, diff swing makes me always get some blocks. Also the PoS blocks payout.

[Vlad2Vlad]

this is a great coin, diff swing makes me always get some blocks. Also the PoS blocks payout.

Again, can you explain how the PoS blocks pay out compared to PoW?  My coin didn't need PoS, cause it was very stable, are you saying it would have been better for me to include PoS, regardless?  Thanks again.


Are GLX seeing any supply on the exchange yet (coin-e), cause I wanna buy some.  I can't get my miners to mine it, nor my coin.  I really like this coin for som reason and I want to accumulate some for next year.  TIA.

[flyingcat]

this is a great coin, diff swing makes me always get some blocks. Also the PoS blocks payout.

Again, can you explain how the PoS blocks pay out compared to PoW?  My coin didn't need PoS, cause it was very stable, are you saying it would have been better for me to include PoS, regardless?  Thanks again.


Are GLX seeing any supply on the exchange yet (coin-e), cause I wanna buy some.  I can't get my miners to mine it, nor my coin.  I really like this coin for som reason and I want to accumulate some for next year.  TIA.

PoS blocks are like interests, paid out every certain days, based on your holding of the coin. PoW blocks you actively mine it. Usually PoS is between 1%-100% annual interest rate, depends on the coins.

PoS provides the coin more resilient to 51% attack. As the attacker will need 51% hashpower and also 51% stake of the coin in order to do a 51% attack, which makes it a lot more difficult, and also with 51% stake he is unlikely to attack the coin where he is already the majority owner.

GLX has quite some trades in coins-e.com, the last trade at 0.000015 BTC/GLX.

[dreamhouse]

nice summary of the PoS

[Vlad2Vlad]

this is a great coin, diff swing makes me always get some blocks. Also the PoS blocks payout.

Again, can you explain how the PoS blocks pay out compared to PoW?  My coin didn't need PoS, cause it was very stable, are you saying it would have been better for me to include PoS, regardless?  Thanks again.


Are GLX seeing any supply on the exchange yet (coin-e), cause I wanna buy some.  I can't get my miners to mine it, nor my coin.  I really like this coin for som reason and I want to accumulate some for next year.  TIA.

PoS blocks are like interests, paid out every certain days, based on your holding of the coin. PoW blocks you actively mine it. Usually PoS is between 1%-100% annual interest rate, depends on the coins.

PoS provides the coin more resilient to 51% attack. As the attacker will need 51% hashpower and also 51% stake of the coin in order to do a 51% attack, which makes it a lot more difficult, and also with 51% stake he is unlikely to attack the coin where he is already the majority owner.

GLX has quite some trades in coins-e.com, the last trade at 0.000015 BTC/GLX.

So why in the world would my programmer leave out PoS then?  Just cause its stable?   That's absurd.  Looks like another error.  I wonder if I can add PoS without a hard fork.  This is ridiculous.  These people coding new coins need to learn their jobs.