[ANN] GIL, fun and fast. Now accepted at Coingas!! Difficulty Fix! Upgrade ASAP!

[markm]

Do you think if devs were properly compensated for their labor, that we would issues such as this?  A high quality coin painstakingly developed for a long time by talented devs would have, at launch, innovative features, a flawless client, services and shops accepting the coin, mining pools, block explorer, official websites localized for all major countries and languages, and I'm sure many other things that I lack the creativity to even think up.

Instead, we just get devs who view their coin as at best a hobby to work on in their spare time, clients just slapped up on a forum and we basically just mine and pray we aren't wasting our time.

We get this crap because it is a quick and simple throwaway scam, it is trivially easy to spawn new coins, but it does not really seem very likely that if we all jump on several new almost-identical scams per day the scam spawner will eventually scam enough total bitcoins out of us that at last he or she will sit down and painstakingly develop something useful by hiring talented devs etc.

On the contrary, what really happened in real life is, someone built an exchange, sold it off for capital, and has now been spending a long time painstakingly developing "Ripple". No scamcoins needed, just one real service that was really needed thus got a lot of users (MtGox, in case you don't know that is what I am referring to).

In all the history of ponzi schemes and pyramid schemes and tulip mania schemes and so on has any of the principals of such schemes actually used their ill-gotten gains to painstakingly develop something actually worthwhile with talented devs?

-MarkM-

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[DeathAndTaxes]

BTC was premined to fuck, so, I guess BTC is a scam coin too.

Well that is not true.

[Noitev]

BTC was premined to fuck, so, I guess BTC is a scam coin too.

Well that is not true.

It looks that way to everyone who missed the BTC train.

[mistercoin]

Just warning you guys, I'm going to 51% this and all future Hydroponica coins at some point and I won't let up until they are announced dead. It might be today, it might be next week, but at some point all the coins you are right now mining will become obsolete. I will gladly set aside 60 or so mHash to ruin him, with more than double that available at any given time. It won't even take 1/4 of my hashpower to ruin his shitcoins. Take it seriously or waste your electricity, it's up to you

Fair warning to all. I only want to affect the copy-paste "dev", not miners, so I'm warning you all in advance

^^ Gogo man, Hydroponica is a Hypocrite and deserves it 10000%. I can't wait to see this happen More power to you...errr...Hashpower xD

[Wolf Rainer]

GIL in southamerica spanish means asshole... 

[markm]

They haven't missed the bitcoin train. If even just a few hundred million of them each bought just one bitcoin, they'd be excellent train-engineers driving themselves past "go" to collect a nice payday...

Oh wait, if only 20,999,999 of them did so, even... Heck even only 20,000,000 of them would accomplish quite a bit... Gosh even only 10,000,000 would still be quite a payday...

So no they have not missed the train, they are sitting somewhere other than at the station.

-MarkM-

[Hydroponica]

As long as the coins are legitimately used for giveaways, bounties, and the like to get a coin going, I see no problem in a reasonable premine.  I don't expect a dev to spend his free time designing, programming, and promoting their coin and on top of it sink his own BTC into it to promote it.  Honestly, I don't even mind a dev premining and holding a reasonable amount of coins (what a reasonable amount is is up for debate though, and yes, I screwed up the math, it is a .16% premine) for himself if that means he is going to invest his time and energy into making the coin successful.  Face it, if a dev stands to gain from the creation of his coin, we will get better and more innovative coins.  This is simple free-market capitalism at play, same reason phizer invests billions into new and better pharmaceuticals, same reason GM invests billions into creating safer and more efficient cars, they sure as shit aren't doing it out of the kindness of their hearts.  So why should a coin dev be looked at any differently?  If we as a community decide a dev isn't allowed to profit off his creation, we will continue to be stuck with shitty copy-paste scrypt coins.

I don't understand the arrogance of some in the crypto community.  "why can't we have a real innovative coin that I get to profit off of, but fuck the dev who spent his time and energy on it, if he profits a cent I will scream scam-coin, oh and I also expect him to sink his own BTC into it to promote it because pre-mine = scam coin"  Meanwhile the miners sit back and bitch and mine and dump and cash out.

The whole point of bitcoin is an opensource money. This coin is literally a scrypt clone anyway so I have no idea why you're defending it. This coin takes no time to make and there are better ways to earn off of it than blatantly giving yourself a bajillion coins. there was this guy named satoshi nakamoto who made something really innovative and for a while, he was one of only a few people mining. For almost a year and a half his coins were practically worthless, but the incentive to change currency as a whole by improving bitcoin was enough to get bitcoins value and noticeabilitly up, inadvertently making him rich.
Saying GIL isn't a pump and dump and a way to just make money contradicts the fact it was made to make the dev money as a business endeavor. The fact he gave himself 300,000 coins makes this exceedingly obvious, especially when he picks and chooses who he gives his "bounty" coins to. To be honest, even if there wasn't a premine, it's worthless because there's no reason to choose this over any other coin.

This is a scam, plain and simple.

BTC was premined to fuck, so, I guess BTC is a scam coin too.
I don't pick and choose. I go into Cryptsy, I shout, first GILL address, gets free GIL!!! and I send it to them.
I created this coin. It took a lot of work. I paid, out of my pocket, for a VPS to have a fast, dedicated node. I paid, out of my own pocket, to have the windows client compiled for me, because I couldn't get it to compile. I paid a bounty of 20K, to have a pool setup, within hours of release. The pool was up and ready, before the block reward had increased to 1. Most coins release, and after a couple hours, you see threads, with people who have thousands of coins to sell. Noone had thousands of GIL. Block reward was 2, until a couple hours ago.
GIL is fast, 45 secoond block times, 3 confirmations. Difficulty adjusts both up and down, very quickly. It's very secure. The block reward right now, is random, between 10 and 50. That's a whole lot of randomness, which should help prevent it being attacked. I have a theory here. Lets say, someone wanted to launch a 51% attack, on GIL...So, they create  their own offline version of the blockchain. Now, GIL's blockchain, is completely impossible to duplicate, due to the random block rewards. The attacker brings their version of the blockchain online, the network sees it, and, see's that the block rewards for their version, is completely different than what the other 50 clients on the network, are showing. So, in theory, and this is just a theory, mind you, the network rejects their version, and no fork is created.
Now, I created GIL, with a specific goal and purpose in mind. I clearly outlined this, and, asked for volunteers, and support from the community, to join my team, and make this happen. So far, I have had interest from 1 person, and the rest of this community, has done but bash it.
So, on that note, if you have an issue with the premine, fine, what ever, don't mine it. The other 35 MH/s that is pointed at it, please, continue to mine it, and have fun

I don't think you get how your own coin works...

So, is my theory wrong? please, elaborate

[DeathAndTaxes]

By your logic a 51% attack is impossible on Bitcoin. The current blockchain has a sequence of blocks with a unique set of block hashes. The attacker's chain will have a different set of block hashes .... magically "the network" will detect this and stay on the "correct" chain.

[Hydroponica]

By your logic a 51% attack is impossible on Bitcoin. The current blockchain has a sequence of blocks with a unique set of block hashes. The attacker's chain will have a different set of block hashes .... magically "the network" will detect this and stay on the "correct" chain.

Why doesn't it work that way? It hardly seems like something that "Magic" would be required, to make it happen....Say the client has 20 connections, than number 21 comes on, with their counterfeit blockchain. Why can't the client use the other 20 clients, to recognize that number 21 is on a false block chain, and reject it?

[DeathAndTaxes]

By your logic a 51% attack is impossible on Bitcoin. The current blockchain has a sequence of blocks with a unique set of block hashes. The attacker's chain will have a different set of block hashes .... magically "the network" will detect this and stay on the "correct" chain.

Why doesn't it work that way? It hardly seems like something that "Magic" would be required, to make it happen....Say the client has 20 connections, than number 21 comes on, with their counterfeit blockchain. Why can't the client use the other 20 clients, to recognize that number 21 is on a false block chain, and reject it?

Well that is a good way to split the chain.  What is the "fake chain" is really the good chain and used by 20 million nodes around the world.  It just happens your node has 21 connections, 20 to an attacker and 1 to the rest of the legit network.

Please understand that anytime your solution relies on "the network" you have already failed.  There is no xCoin network.  There is a network of INDEPENDENT nodes connected to other INDEPENDENT nodes which happen to be running compatible copies of the same protocol. 

Your nodes has no idea what copies of what blockchains are on other nodes.  Your node has no idea it knows about all the blocks or it knows about all the txs.  Your node doesn't even know how many other nodes exist.  It knows its direct peers and it maintains a list of possible nodes (obtained from other nodes) but it never conclusively knows how many nodes there are.

Maybe a little less spamming the next scamcoin of the week and a little more learning on how peer to peer networks work.  Just an idea.

[Hydroponica]

Difficulty is low. Why not mine some GIL?

[Hydroponica]

Just warning you guys, I'm going to 51% this and all future Hydroponica coins at some point and I won't let up until they are announced dead. It might be today, it might be next week, but at some point all the coins you are right now mining will become obsolete. I will gladly set aside 60 or so mHash to ruin him, with more than double that available at any given time. It won't even take 1/4 of my hashpower to ruin his shitcoins. Take it seriously or waste your electricity, it's up to you

Fair warning to all. I only want to affect the copy-paste "dev", not miners, so I'm warning you all in advance

^^ Gogo man, Hydroponica is a Hypocrite and deserves it 10000%. I can't wait to see this happen More power to you...errr...Hashpower xD

I like to make to make things interesting so you'll need at least 83MHS to 51% it (11 m/hs already there plus my 72m/hs) once I add my 72 mh/s to the original chain.

Since you're going to 51% it I have a question, exactly what are you going to do with your own chain since there are no exchanges?

With 60+ mhs you'll be the only one on that fork since diff will skyrocket, in other words you'll just be playing with yourself LOL...



~BCX~


PS I had to pull back to 8mh/s because I was hitting blocks every few seconds at 15mh/s.  

He's just doing it, because I hurt his feelings. I really don't get why my coin would be a target. Just last night, I spent 6K of my own MasterCoins, because my new client fucked up, and the pool got all foobar'd. I gave the operater 6K, to make sure everyone on the pool got paid...Sure sounds like a scam coin to me. I could have just said fuck it, cashed out my coins, and let it die. But, I didn't just flip a switch on my coins, and disappear. Why not target those kind of coins, instead of ones that I am actively trying to make something out of?

[bitme]

I invite everyone to try my new pool : gil.netcoin.pl
Proportional payments after 60 confirmations.

[Hydroponica]

I invite everyone to try my new pool : gil.netcoin.pl
Proportional payments after 60 confirmations.

Nice new pool leave your wallet address man, and I'll payout bounty when I get home

[bitme]

Thank You:) I didn't know there is bounty for that
7Ni1dD4kmFVtcKeoMn5mn68smiiuJfsAmk

[Hydroponica]

Thank You:) I didn't know there is bounty for that
7Ni1dD4kmFVtcKeoMn5mn68smiiuJfsAmk

Yep. There's more available too, see link in OP. I'll send you your coins, right after work

[Hydroponica]

More give aways later today, in the Cryptsy troll box!!

If you like GIL, let the cryptsy guys know. Lets get it added to Cryptsy!!

[Hydroponica]

Thank You:) I didn't know there is bounty for that
7Ni1dD4kmFVtcKeoMn5mn68smiiuJfsAmk

Yep. There's more available too, see link in OP. I'll send you your coins, right after work

Coins sent

[Hydroponica]

You can now trade GIL on http://iceycrypt.com/!!!

[emerefer]

You can now trade GIL on http://iceycrypt.com/!!!

you cant cancel your orders or withdrawl