-- Miner's Official Coin LAUNCH - NUGGETS (NUGS) --

[Vlad2Vlad]

NUGS address for Donations for bounty support.  Thanks in advance!


NUGS Wallet #:  

TBD


Ok, here's the official launch of Nuggets.  Let's see how the  VGB protocol reacts when coded within a coin.

Now I can give you guys a breakdown of what VGB is - as it was intended to give the smaller miner an edge, relatively speaking, on a % basis.

It is the concept of (NPV) Net Present Value, used in Accounting and also another Accounting principle called Accelerated Cash-Flows.  

I originally wanted a 21 year coin but then I realized the government will not let this thing run that long so why let those millions of coins in the latter half of the period go to waste when they can be brought forward and given away to miners today - to be used now instead of 20 years from now.

But simply tripling the coin count wouldn't make anything new so I needed a way to triple the coin count in a new way to level the field while also making mining fun as right now mining high diff coins is a total flatline experience with little reward and no hope of ever having something spectacular happen all of a sudden.

So I developed a concept called VGB (yes, I absolutely had to put my name on it), it stand for Vlad's Golden Block.

Essentially what I did was brought forward the latter 14 years of coins, some 309,000,000 coins and crammed them in the front end of the term, the first 7 years (hence this is now a 7 year coin) but instead of simply tripling the coins mined I separated and stacked all those coins into 12 daily blocks called Vlad Golden Blocks  where anybody mining, regardless if you're mining solo or how small your rig is - you have the same odds to hit this Golden Block and these blocks run 24/7 for the entire 7 years and to prevent cheating these blocks are randomly won at a period time-frame of every 2 hours so 12 Vlad Golden Blocks will be running and available 24 hours per day.

So then each Golden Block, instead of being worth the normal 49 coins (every 70 seconds) will be worth just over 205 Blocks, hence the name the Vlad Golden Block which means if you hit just one Golden Block you will be instantly rewarded over 10,000 coins, a massive difference from just 49 coins.  That's a huge amount of coins if you're an average or small miner - it would be like literally owning the entire network all to yourself for 4 hours and hitting every single 49 coin block again and again, and if you compare that to the 10 minute block times of Bitcoin, it would be like owning the whole network and hitting every single block for nearly a full day and a half.  That is a lot of power in the hands of any small miner and it can literally push any small miner to the next level.

It's a clear and fair break for everyone but especially for the small miner, this kind of Golden Block hit, over 10,000 coins would be a big deal and on a relative basis, this could help a small miner more quickly upgrade to a much better rig while at the same time these Vlad Golden Blocks don't exclude anyone as big miners have an equal chance of hitting them too although for the big guy 10,000 coins would not make such a big deal as to the small guy, which is why I said this was a fair protocol but would benefit the small guy more.

Here's the info to get started so let's see who gets that first Vlad Golden Block first.

Good luck!





Version 1.0.1 Please update ASAP

Git: https://bitbucket.org/mytwobits/nuggets

Windows GUI Download: https://app.box.com/s/blhmif79kih317yqjm7a

If you need a node use:

addnode=69.85.86.195

RPC PORT = 5587

--------------------------------------------
49 Coins per block, constant over the entire 7 year period

70 second intervals - I wanted a fast coin but not so fast that security would be compromised

Confirmations - 3 ( I believe, this was my request to the programmer but I did not confirm)

difficulty retarget - average of last 21 blocks which should allow for some unpredictability but not too much

12 Vlad Golden Blocks every 24 hours, randomly chosen once inside every 2 hour window  - random probability (lottery system to prevent gaming the coin or insider manipulation) so no gaming the system or pool hopping


Bear with me guys, 3 months ago I didn't know what a bitcoin was and it took me 3 days just to be able to start mining Litecoin while working at it 16 hours per day.  I want this to be the best coin out there and like I said, I already gave away all my .5% of my premined coins to random people.  I'm now paying for bounties out of pocket.

Keep in mind so far I've done 99% of everything the miners have requested even in cases where I really didn't like their decision - and the reason was because I really wanted to make a coin for the miners.  I paid for this and put lots of hours behind it so now it's up to you guys if you want to improve it and make it your own.  I'll be here all day most days to help in any way I can.

Good luck and if nothing else this should be an interesting experiment in a new type of reward system that rewards everyone but helps the little guy the most.

The Gauntlet has been thrown down - now let's go to war and mine this bad-boy!




       ~ BOUNTIES - BOUNTIES - BOUNTIES - BOUNTIES - BOUNTIES - BOUNTIES - BOUNTIES ~



a)  .2 BTC BLOCK Explorer

b)  2,000 NUGs for the First p2p Pool (please charge a fair fee).

c)  .25 BTC to whoever gets the VGB protocol to work right - 6 hours which is 3 random Golden Blocks.

ADDITIONAL OPEN BOUNTIES FOR SERVICES RENDERED


2,000 NUGs for a working Android App
2,500 NUGs for a stable online wallet
2,000 NUGs for the 2nd p2p Pool
2,000 NUGs for a second Block Explorer

*ALWAYS PM me* with any completed bounty and once verified I will pay you, please don't assume I can read every post as this is one of the busiest threads on this entire forum with over 16,000 views and nearly 2,000 posts in just 11 days.  I genuinely Thank you for all your help and support!
            

-   BOUNTY for a new coin look, the face of Nuggets (NUGs) - Ultra important aspect!  I will pay (personally) an artist to draw and also combine photoshop for a new old school miners coin look, I Have to pay dollars out of pocket for that as he needs the money and doesn't quite believe in this alt coin thing.  But I'll do my best to convert him.  Lol


-   BOUNTY FOR PhD PROGRAMMER:  I'm also in the process of hiring a PhD forensic computer scientist (Cidel) to help me add more features.  His normal contractor fee for forensic work for large corps or the Feds, CIA, etc., is upwards of $300 per hour but he's a childhood friend of my little brother and he said the most he'll charge me is $20 per hour so I think in 20 hours a lot of code can be written for at least one major feature if not two.  I will also personally pay for this.  He's a busy guy, has a family, goes to school full-time, takes on contract jobs so I don't know if I can make him a real full-Time partner so I am looking for such a guy but I need a real pro.  Someone who can program anything.  Nobody likes hearing their ideas or features are too ambitious.  



       So hold on to your coins cause I'm not giving up.  And I am working hard to come up with bounty coins since I gave away every premined coin which I wanted to use for bounties to make this coin the best, to put litecoin to crying shame and that's not an empty threat - it's a smoking gun and fully loaded too (Hollywood prop of course) lol.  This coin can be the best and I'm not gonna give up as long as this coin and I are both breathing.  So far so good, even after an 81% attack and many theft attempts, clone copies like "Spots" and even a full-blown hijack and criminal black-mail letter for 20 BTC which of course I didn't pay, this coin still stands.




       The fact this coin, in the first 5 days was:  literally hijacked, blackmailed, purchase offer on first launch day after an 81% attack, Miraculously survived a 81% attack, then another guy tried to literally steal the coin, while 2 more have already copied this coin in less than 10 days after launch, without adding a single feature to make it better.  My question is - with a coin with so many problems, near death, with no support and started by an economist who knows no programming why is everyone trying to steal it or copy it so badly when there's so many great coins out there they can legally copy and launch?  Why this coin?  I keep asking but nobody has an answer or even a hunch and since I'm no programmer I have no clue what sets my coin apart from other coins?  



       I'm determined - I have been fully transparent, as I promised on day one, I even revealed my real Identity including my family which was a tough choice but haters - the same ones who stole and cloned my coin were calling me a scammer and a fraud so I had to take drastic measures by putting my family youtube and Facebook up for all to see who I really am, while also giving away all my 1.57 Million Premined bounty earmarked NUGGET coins (due to overtly biased and false credibility attacks) but the attacks and lies kept coming cause the real reason was a select few wanted me to sell them my coin, this was nothing more than a character assassination attempt to either kill my coin or buy it from day one.


       I'm a small miner myself, I'm like most miners out there and I'm determined to make the best coin and design it more and more to always give an edge to the smaller miners (while not abusing nor excluding the large miners). Win-Win for everyone is my philosophy, just like the Vlad Golden Blocks Protocol, small miners are thrilled to hit one Golden Block and large miners would love it just the same but relatively speaking, the smaller miner would benefit a lot more by hitting a Golden Block for obvious reasons) which is what the random lottery Golden Blocks were designed for and thanks to Twobits and MarkM there is now a fix for the Golden Blocks Protocol, and then I can't wait to see the little guy hitting 10,000 coins in one Golden Block Hit, when a regular block is only 49 coins.  


       Thank you all who have helped and please hold on to your coins because I will work hard to make them worth a lot more.  But if you wish to dump them, PM me first - give me the first chance as I have few coins and I am using them for bounties, and I would really like to accumulate some for myself before if/when NUGs makes it to a major exchange.



~  Thank you and good luck to everyone and God Bless!

[PerfectAgent]

So there is premining after all...

[emerefer]

addnodes?

nvm i see it

[Eli0t]

iv read this 3 times and still dont get how a small time miner is better off

not sure if i want to hug that NUG or stare at it for a while and walk away

typo "but helps the little buy the most."

[AgentME]

Big miners will win the VGB lottery proportionally more than small miners. This doesn't benefit the small miners more. Neither does having a shorter coin generation time with more coins.

EDIT: Quoting my page 8 post for visibility:

VLAD STILL DOESN'T REALIZE THAT THE "VGB PROTOCOL" IS BROKEN:

Yeah I noticed that (see "on edit") after posting.  However it looks like no block will get the lottery due to the order of the if statements.

Holy shit, you're right.

Big issue, the "VGB protocol" is completely broken not only in design, but also in implementation. No blocks will ever get the reward.

(Okay technically, blocks 249 and 250 alone have a small chance of getting the reward. But no other blocks!)

Also, a reminder that the coin is built to practically self-destruct:

Oh wow, I just realized there's no reward halving at all. After 7 years, rewards abruptly stop. Transaction fees will pay some rewards, but the sudden immediate drop-off would be chaos for the network as most miners go offline, and the remaining miners that stick it out will have extreme trouble meeting the high difficulty left in the wake. And then the network will be very vulnerable to 51% attacks.

Major issue.

And my biggest mistake was to launch a coin with no experience.  But all my friends as doctors, engineers or bums.  No programmers.  The coins launched so far are Mickey Mouse - so much better can Boone but people only care about making a quick buck.  I genuinely wanted a real coin for the long term where the payout would have come Down the line.

Long term indeed.

Is this thread some sort of practical joke?
He admits many times he has no ideas for the coin, besides that he wants to make it "for the miners" (of course, making a currency solely revolving around the money printers is fucked). Oh, and his one other idea was to copy LuckyCoin's random giant block rewards as if that were going to benefit the small miner. And he states how we should be grateful and he deserves his millions of coins premine.

Is this a project by some bitcoin-critic to see just how scammable the bitcoin community is? This can't be not on purpose, can it? Everything is just filled with failure here. I'd be cracking up laughing if people weren't still falling for it somehow.

[PerfectAgent]

iv read this 3 times and still dont get how a small time miner is better off

not sure if i want to hug that NUG or stare at it for a while and walk away

Apparently it's because if you mine, you'll randomly get a block that has a larger reward than usual. But I don't see how this helps to serve to protect the network at all, and these random erratic rewards won't help with trust. Also yeah, you still have to mine the block, so I don't see how a small miner can mine it if it's hard to mine the blocks.

[ohiwastedmylif]

It is a good day when I can pull off getting a picture of Zoolander, and Chicken Nuggets on the offical QT.

[markm]

So at what point does the information needed to predict whether the next block will be a lottery winner come into existence, and how big a miner relatively would you have to be to maybe even not bother submitting non-winners unless something in the non-winner decides whether a winner becomes possible next up?

-MarkM-

[thef]

How does having a random super block benefit small miners?

[Vivisector999]

LMAO, Yeah he just helped the big miners in a HUGE way.  LOL.  Since a big miner will usually hit a far larger % of the blocks.  Oh well, guess it's like hitting the lottery for the small miners.  And a regular jackpot for the big guys.  Good job getting it launched.  Now I hope you can work on the business aspect of the coin, and make your 0.5% worth something.  Lol, I'n not mad you premined.  Just the way you handled yourself while trying to sell it to everyone.

Get your programmer to set up a pool for you, and charge 2% there.  Then you will get an even bigger part of the pie, and no one will complain about it.


Edit:  Or did I misread that???  Is this giving to a miner randomly if they found a block or not, just that they were mining?
 

[AgentME]

From the source:

Code:

		if(nHeight == 1)   
			nSubsidy = 1100000 * COIN; //.5% Public Wallet Premine
			
		if(nHeight == 2)   
			nSubsidy = 1100000 * COIN; //.5% Coin Owner Premine
			
		else if(nHeight < 10)
			nSubsidy = 0 * COIN;	//No  Coins awarded for the first 120 blocks (fair launch)

The comment that says "fair launch" definitely means it. Don't pay attention to the premine part.

[diatonic]

My miner says I've found 21 blocks but they don't show up in listtransactions;  

Code:

$ nuggetsd listtransactions
[
]

[iGotSpots]

LOL people like stevenlam are about to have 12 million coins the first day when they snag these 12 rewards worth 10,000 each

This is the idea you've been hyping for the last two days? Looks like we gave you way too much credit...

[AgentME]

So at what point does the information needed to predict whether the next block will be a lottery winner come into existence, and how big a miner relatively would you have to be to maybe even not bother submitting non-winners unless something in the non-winner decides whether a winner becomes possible next up?

-MarkM-

It looks like you can easily tell whether the next block will be a lottery winner. Big miners can simply mine other coins constantly, and when they detect a lottery winner is coming up, switch to mining this for a block. Brilliantly helping the large miners!

[A L I E N]

My miner says I've found 21 blocks but they don't show up in listtransactions;  

Code:

$ nuggetsd listtransactions
[
]

Code:

//No  Coins awarded for the first 120 blocks (fair launch)

[hope2907]

34 blocks and 2.24 dif @@

[thef]

LOL people like stevenlam are about to have 12 million coins the first day when they snag these 12 rewards worth 10,000 each

This is the idea you've been hyping for the last two days? Looks like we gave you way too much credit...

I was hoping for some actual innovation since he's been going on and on about it for the past week, but I'm disappointed yet again.

[iGotSpots]

34 blocks and 2.24 dif @@

My job here is done

[daggerismo]

yeah, sure... a coin for small miners..... i have a radeon hd 6670 ddr3 (about 100khs scrypt mining) on my daily use computer, and still answer myself how i can compite with a 2000khs mining rig??

PS: meanwhile i write this, a diotonic found 21 blocks and i still nothing found..... a coin for small miners? sure!!

[markm]

So VGB is just obfuscatese for superblock, nothing new here just another superblock crapcoin pump and dump?

How many milliseconds between blocks so far?

-MarkM-