Miner's Official Coin LAUNCH - NUGGETS (NUGs) [No off-topic, only altcoin talks]

[jackjack]

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!







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

https://github.com/knotwork/nuggets

Windows Wallet Download: https://docs.google.com/file/d/0B49exKIsGBn5N3JzSmR1akRpWFE/edit?usp=sharing

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 at 2 hour (random) intervals - randomly chosen 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'll dump my .5% of my premined coins to a good cause like a block explorer or a pool if the general consensus calls for it.

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 buy the most.

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

[AgentME]

I think I said these same criticisms in the old giant thread somewhere, but they're still valid here. Only 3 confirmations for transactions, finally a coin that helps people with double-spending! And the random superblocks just add more variance to mining, so mining is smoother and more predictable for big miners! And you can tell when the next block will be a superblock, so you can switch from mining something else to this when one is coming up if you wanted to.

[jackjack]

I think I said these same criticisms in the old giant thread somewhere, but they're still valid here. Only 3 confirmations for transactions, finally a coin that helps people with double-spending! And the random superblocks just add more variance to mining, so mining is smoother and more predictable for big miners! And you can tell when the next block will be a superblock, so you can switch from mining something else to this when one is coming up if you waned to.

Stop spreading false facts
Vlad's Golden Blocks use God numbers and that's why the coin can be smooth without using PoS

Proofs:

BOUNTY RAISED, People are contributing the bounty of this clone and I didn't even ask for any

I will give .5 BTC to anyone who gives me the NUG code with a windows and linux client, new genesis, working super blocks from the beginning, rewards right away, no premine, and a new name. An exact copy. I'll up it to 1 BTC if there's also a client for mac or .4 to whoever makes a mac client from the code

$100 to change three things. Seriously, easiest Benjamin ever

An exact copy.  Ahahhahahaaa.  The imagination if gnats.   Ahhahahahaaaa.  I came up with golden blocks and the perfect numbering system to not need PoS for a perfect smooth diff in about 15 minutes you bums.


From now on any innovatin I put into a coin will be closed source.  You low life vultures.

Shakezula ran the test for over 2 hours and he was amazed at how smooth it was.  He said your coin does t need PoS cause the differetial is so smooth.  Interesting, I hit such a smooth diff on my first try basically using universe numbers I call God numbers which bring balance and harmony to everything around.  Some of those numbers are Fibonacci numbers.  This is to religious stuff, its science.  I looked at most coins and they used 600, 60v 6 and crap like that.  Those numbers in the universe are unstable so no wonder people need PoS to stabilize and smooth out the diff.

[frobley]

so it's Fibonacci... and do the 'super' blocks work?

[jackjack]

It's God

[markm]

so it's Fibonacci... and do the 'super' blocks work?

Of course not, you sinners don't deserve them so God in His mysterious wisdom caused them not to work.

Pray mightily in true humility and who knows, maybe a miracle will occur and cause them to work.

-MarkM-

[frobley]

any numbers on difficulty retargeting? I really can't read through 81 pages on the other thread...

[jackjack]

Nobody knows because nobody is mining

Ok next time I'll read all the words before answering

[PerfectAgent]

The "official" number given was 21 blocks, but from looking at the block explorer, it seems to retarget every third block, unless I'm looking at this wrong.

[frobley]

The "official" number given was 21 blocks, but from looking at the block explorer, it seems to retarget every third block, unless I'm looking at this wrong.

Thanks 

[Promethium]

Hi, block production went real slow for a while.
Was unable to find using txid in the block explorer, but located using number of confirmations.
Address in block explorer does not show up in client! Client shows address as n/a.

Anyone have an address to send 1 coin to to test if this even works before expending further effort?

[hotcoldcoin]

Hi, block production went real slow for a while.
Was unable to find using txid in the block explorer, but located using number of confirmations.
Address in block explorer does not show up in client! Client shows address as n/a.

Anyone have an address to send 1 coin to to test if this even works before expending further effort?

Try the explorer at http://altcha.in/chain/Nuggets  - it's a bit easier to view tx and addresses.

Block production often slows down when the network hits a relative "high" difficulty.

Here's a test address for you:  NdkukbWkK5jaVdLEVUSo4MrWJoN6o4ZGbM

[Promethium]

Try the explorer at http://altcha.in/chain/Nuggets  - it's a bit easier to view tx and addresses.

Block production often slows down when the network hits a relative "high" difficulty.

Here's a test address for you:  NdkukbWkK5jaVdLEVUSo4MrWJoN6o4ZGbM

Thanks, Let me know if it shows up! Oh! and if you can tell which address it came from.

[hotcoldcoin]

Try the explorer at http://altcha.in/chain/Nuggets  - it's a bit easier to view tx and addresses.

Block production often slows down when the network hits a relative "high" difficulty.

Here's a test address for you:  NdkukbWkK5jaVdLEVUSo4MrWJoN6o4ZGbM

Thanks, Let me know if it shows up! Oh! and if you can tell which address it came from.

Showed up fine.   It came from address NaJftrbBHJZwzfcTptV8zs2MHvyjd17cP6.  And I sent you back a few coins, too

[Promethium]

Showed up fine.   It came from address NaJftrbBHJZwzfcTptV8zs2MHvyjd17cP6.  And I sent you back a few coins, too

Thanks, Received two payments to NaJftrbBHJZwzfcTptV8zs2MHvyjd17cP6 11 Nug and 1 Nug the first has only received 11 confirmations in 2 hours; 11 minute blocks?

[hotcoldcoin]

Showed up fine.   It came from address NaJftrbBHJZwzfcTptV8zs2MHvyjd17cP6.  And I sent you back a few coins, too

Thanks, Received two payments to NaJftrbBHJZwzfcTptV8zs2MHvyjd17cP6 11 Nug and 1 Nug the first has only received 11 confirmations in 2 hours; 11 minute blocks?

Yup, I've seen a 3 hour block recently, too.   And then a bunch of fast blocks.   Average is getting up towards 300 seconds per block lately.

But someone must be adding some hash today.   Now at block 6627.   Only 50 more blocks to the fork point at 6677!

[jackjack]

Any nodes?
Those from markm don't exist anymore

[hotcoldcoin]

Any nodes?
Those from markm don't exist anymore

markm lost the nuggie feeling, I think.

I only know 2 nodes still accepting connections:

addnode=198.199.121.22
addnode=2.11.56.240

[jackjack]

Any nodes?
Those from markm don't exist anymore

markm lost the nuggie feeling, I think.

I only know 2 nodes still accepting connections:

addnode=198.199.121.22
addnode=2.11.56.240

Thanks

Surely he is a scammer.
He claimed the golden bounty then went away. Jesus, punish him for not helping our holy blocks.

[hotcoldcoin]

I'm curious who is NbjwGFoUD2Ghk6bKPTaZCpsF345bn2Brxn ?

They've mined over 2100 blocks (about 30% of total blocks so far), and still going.