[ANN][IC] ⚡ Ignition Coin ⚡ - 5M Over 50 Years, PoW/PoS/MN - Fair Distribution

[techniumunlimited]

@techniumunlimited
Hi, you think the coin need a PoW? Miners and multipools only dump price on exchanges.

narousberg
Supporting you ! POS will be great for Ignition

If community overwhelmingly supports the idea it would be considered, sure.

At the moment we are still working on difficulty retarget upgrade, will look over the full implications of a switch like that though, and can talk with community about it, thanks for the input!

PoW is only good for initial coin supply, try to announce that the PoW will be ended on block 200k and you will see, that the direct miners will stop selling coins and start accumulate for future only PoS+MN generation.  

I agree, if we do move to POS/MN only it would be better to do so after the 1M coins mark, when inflation quarters, at the least. This way the most distribution can occur with pow before the change, if it occurred. Currently with the difficulty retarget issue causing PoW instability, the network is already more POS/MN blocks than PoW (i.e. PoW is <50% of blocks, between 20-45% depending on the day), so it also inadvertently makes for a smoother decline in pow (though, not happily ).

If we do (as a community) decide we want to do this, it would be best to implement the change when we implement the difficulty algorithm upgrade (and scrap scrypt -> neoscrypt plans for that upgrade for removal of pow), rather than have multiple forks. Of course, it can be implemented then but would be activated at a future date -- perhaps at the 1M coin mark, or somewhere after that. The upside to pos only is that we can easily handle implementing (dev-wise) a move to POS/MN exclusively, while the pow algo change is a much more complex change, thus takes (and has taken) a lot longer to implement and test, so far we are about 30% done with the diff retarget implementation, then would begin on getting us moved to neoscrypt if we still wanted to go that direction, or get a block checkpoint for pow's end in place if not.

I'd like some more input on the idea though if anyone has some comments to make or thoughts about it, would welcome it.

[1715302808]

1715302808

[1715302808]

1715302808

[1715302808]

1715302808

[zlaja28]

good idea after 1M completed to go with only POS/MN

 

[narousberg]

@techniumunlimited
Hi, you think the coin need a PoW? Miners and multipools only dump price on exchanges.

narousberg
Supporting you ! POS will be great for Ignition

If community overwhelmingly supports the idea it would be considered, sure.

At the moment we are still working on difficulty retarget upgrade, will look over the full implications of a switch like that though, and can talk with community about it, thanks for the input!

PoW is only good for initial coin supply, try to announce that the PoW will be ended on block 200k and you will see, that the direct miners will stop selling coins and start accumulate for future only PoS+MN generation. 

I agree, if we do move to POS/MN only it would be better to do so after the 1M coins mark, when inflation quarters, at the least. This way the most distribution can occur with pow before the change, if it occurred. Currently with the difficulty retarget issue causing PoW instability, the network is already more POS/MN blocks than PoW (i.e. PoW is <50% of blocks, between 20-45% depending on the day), so it also inadvertently makes for a smoother decline in pow (though, not happily ).

If we do (as a community) decide we want to do this, it would be best to implement the change when we implement the difficulty algorithm upgrade (and scrap scrypt -> neoscrypt plans for that upgrade for removal of pow), rather than have multiple forks. Of course, it can be implemented then but would be activated at a future date -- perhaps at the 1M coin mark, or somewhere after that. The upside to pos only is that we can easily handle implementing (dev-wise) a move to POS/MN exclusively, while the pow algo change is a much more complex change, thus takes (and has taken) a lot longer to implement and test, so far we are about 30% done with the diff retarget implementation, then would begin on getting us moved to neoscrypt if we still wanted to go that direction, or get a block checkpoint for pow's end in place if not.

I'd like some more input on the idea though if anyone has some comments to make or thoughts about it, would welcome it.

The main idea of a coin, the preservation of value in a long period of time.
Miners will suck this value out as vampires. Conduct a vote in the community on the transition to Pos + MN

[techniumunlimited]

@techniumunlimited
Hi, you think the coin need a PoW? Miners and multipools only dump price on exchanges.

narousberg
Supporting you ! POS will be great for Ignition

If community overwhelmingly supports the idea it would be considered, sure.

At the moment we are still working on difficulty retarget upgrade, will look over the full implications of a switch like that though, and can talk with community about it, thanks for the input!

PoW is only good for initial coin supply, try to announce that the PoW will be ended on block 200k and you will see, that the direct miners will stop selling coins and start accumulate for future only PoS+MN generation. 

I agree, if we do move to POS/MN only it would be better to do so after the 1M coins mark, when inflation quarters, at the least. This way the most distribution can occur with pow before the change, if it occurred. Currently with the difficulty retarget issue causing PoW instability, the network is already more POS/MN blocks than PoW (i.e. PoW is <50% of blocks, between 20-45% depending on the day), so it also inadvertently makes for a smoother decline in pow (though, not happily ).

If we do (as a community) decide we want to do this, it would be best to implement the change when we implement the difficulty algorithm upgrade (and scrap scrypt -> neoscrypt plans for that upgrade for removal of pow), rather than have multiple forks. Of course, it can be implemented then but would be activated at a future date -- perhaps at the 1M coin mark, or somewhere after that. The upside to pos only is that we can easily handle implementing (dev-wise) a move to POS/MN exclusively, while the pow algo change is a much more complex change, thus takes (and has taken) a lot longer to implement and test, so far we are about 30% done with the diff retarget implementation, then would begin on getting us moved to neoscrypt if we still wanted to go that direction, or get a block checkpoint for pow's end in place if not.

I'd like some more input on the idea though if anyone has some comments to make or thoughts about it, would welcome it.

The main idea of a coin, the preservation of value in a long period of time.
Miners will suck this value out as vampires. Conduct a vote in the community on the transition to Pos + MN

Yep, that is what we have been doing, discussing this topic in discord -- So far, almost everyone wants to do the above ^^ -- We are going to make a survey and post on our twitter/announcement channel to get more input over the next week, then we will be more decisive. Thanks again for the input and let us know if you have more suggestions revolving around this topic

[linkara6669]

Ignition Coin is by far one of my favorites! It stakes amazingly! Masternodes are an amazing thing to be a part of, and IC has one of the best running masternodes I have seen thus far! The dev team does a fantastic job and there is a very active community behind this coin!! IC!

[letrana9162]

Any info on coinmarketcap listing?

[techniumunlimited]

Any info on coinmarketcap listing?

We have coinmarketcap listing here: https://coinmarketcap.com/currencies/ignition/

[StoneSoup]

I'm going to throw a spanner in the works here.

I think that we should keep the POW but just change the algo to Phi2. This will allow only Graphics cards to mine it and this allows for individuals to run it on a home computer without spending a fortune and competing with big Chinese mining rigs. Phi uses a lot less power and Phi2 is even lower power so the impact of mining will be a lot less than any other options. A CPU mining option would also be good but I'm not sure if there is a good enough algo.

I think we should keep POW in because mining costs go up and this attaches a value to the coin. If mining 1 coin costs me $1 then I won't want to sell for less that $1 or I'm losing. If the cost rises to $10 to mine a coin, then I'm going to demand $10 or more for my coin. This is what has happened with bitcoin and gives it a solid floor ensuring that the price never falls too much. Of course the price can and occasionally does fall below the mining price and this is resolved by changing the difficulty to make mining profitable again but the halvings ensure that even then prices are kept somewhat in check. We know that mining can and does help price because we can see it in a number of coins that have been around for a while.

I think it might be ok to change the weighting of coins being available through mining vs staking but I wouldn't think it should be too heavily weighed towards staking as doing so will distort the system and negate the benefits of having mining.

I have noticed a lot of coins where POS and MN were the only thing and they flared up beautifully for a while and then died after their value crashed well below 1 sat. I would hate to see the same thing happen to this coin. I think mining is another thing that can help protect this coin from becoming a victim of this.

Anyway thats my 2 cents worth, I think it is a big plus that we can say things like we have POW, POS and MNs. I would like to see smart contracts and later atomic swaps added since these would be great for a coin that is designed as a store of value.

Tech, feel free to copy and paste this comment to discord, I probably won't get a chance for a while.

[techniumunlimited]

I'm going to throw a spanner in the works here.

I think that we should keep the POW but just change the algo to Phi2. This will allow only Graphics cards to mine it and this allows for individuals to run it on a home computer without spending a fortune and competing with big Chinese mining rigs. Phi uses a lot less power and Phi2 is even lower power so the impact of mining will be a lot less than any other options. A CPU mining option would also be good but I'm not sure if there is a good enough algo.

I think we should keep POW in because mining costs go up and this attaches a value to the coin. If mining 1 coin costs me $1 then I won't want to sell for less that $1 or I'm losing. If the cost rises to $10 to mine a coin, then I'm going to demand $10 or more for my coin. This is what has happened with bitcoin and gives it a solid floor ensuring that the price never falls too much. Of course the price can and occasionally does fall below the mining price and this is resolved by changing the difficulty to make mining profitable again but the halvings ensure that even then prices are kept somewhat in check. We know that mining can and does help price because we can see it in a number of coins that have been around for a while.

I think it might be ok to change the weighting of coins being available through mining vs staking but I wouldn't think it should be too heavily weighed towards staking as doing so will distort the system and negate the benefits of having mining.

I have noticed a lot of coins where POS and MN were the only thing and they flared up beautifully for a while and then died after their value crashed well below 1 sat. I would hate to see the same thing happen to this coin. I think mining is another thing that can help protect this coin from becoming a victim of this.

Anyway thats my 2 cents worth, I think it is a big plus that we can say things like we have POW, POS and MNs. I would like to see smart contracts and later atomic swaps added since these would be great for a coin that is designed as a store of value.

Tech, feel free to copy and paste this comment to discord, I probably won't get a chance for a while.

Thanks for the input. Currently, we have begun testing an implementation of LWMA difficulty algorithm -- See-> https://github.com/zawy12/difficulty-algorithms/issues/3 for full information on LWMA.

This alone may not prevent all issues with mining whales coming in and out, but greatly diminishes them compared to our current diff retarget algo. We will be implementing it as long as the tests go well, which will activate much earlier than any change in regards to pos-only state, and if it is effective enough to prevent issues maintaining block time stability and pow/pos ratios, it may change the overall users opinion on which direction to go. At the least, pow would not be deactivated until a few to many months in the future. We will attempt to see how well LWMA prevents massive hashrate changes, and take it from there for now.

[StoneSoup]

Thanks for the input. Currently, we have begun testing an implementation of LWMA difficulty algorithm -- See-> https://github.com/zawy12/difficulty-algorithms/issues/3 for full information on LWMA.

This alone may not prevent all issues with mining whales coming in and out, but greatly diminishes them compared to our current diff retarget algo. We will be implementing it as long as the tests go well, which will activate much earlier than any change in regards to pos-only state, and if it is effective enough to prevent issues maintaining block time stability and pow/pos ratios, it may change the overall users opinion on which direction to go. At the least, pow would not be deactivated until a few to many months in the future. We will attempt to see how well LWMA prevents massive hashrate changes, and take it from there for now.

LWMA sounds like it will fix the issue with people coming in and out.

I think another much bigger concern of people who are against POW is that entry to mining is prohibitive to most because of the need to buy very expensive ASIC mining hardware (we are talking about $5000+ vs existing CPU or GPU). CPU/GPU mining opens up mining to the masses so to speak and that is far more likely to get support of the average IC enthusiast. Even with GPU, a lot of people will have one that they use for gaming and can re purpose t when they are not using it for gaming. Yes there will be farms of these too but they are far less pervasive and people still seem to make a reasonable return with these.

For GPU, I suggest Phi or Phi 2 because of the lowered power requirements but and GPU only algo would be welcome. for CPU, perhaps the algo used by Monero and its various derivatives, simply because this is very popular and well tested and gets regular updates ensuring that and attempts to use it with ASICs are thwarted.

Please consider changing the POW algo for a CPU or GPU one and run it for awhile. If we can do this before any switch to POS only, I think you will see people warm to it. Plenty of other coins run POS, POW and MN together and the users are happy with the POW staying.

I am really worried that without POW, we are going to see a considerable loss of value. Please consider my alternative of using CPU or GPU algo instead.

[icnitor]

Thanks for the input. Currently, we have begun testing an implementation of LWMA difficulty algorithm -- See-> https://github.com/zawy12/difficulty-algorithms/issues/3 for full information on LWMA.

This alone may not prevent all issues with mining whales coming in and out, but greatly diminishes them compared to our current diff retarget algo. We will be implementing it as long as the tests go well, which will activate much earlier than any change in regards to pos-only state, and if it is effective enough to prevent issues maintaining block time stability and pow/pos ratios, it may change the overall users opinion on which direction to go. At the least, pow would not be deactivated until a few to many months in the future. We will attempt to see how well LWMA prevents massive hashrate changes, and take it from there for now.

LWMA sounds like it will fix the issue with people coming in and out.

I think another much bigger concern of people who are against POW is that entry to mining is prohibitive to most because of the need to buy very expensive ASIC mining hardware (we are talking about $5000+ vs existing CPU or GPU). CPU/GPU mining opens up mining to the masses so to speak and that is far more likely to get support of the average IC enthusiast. Even with GPU, a lot of people will have one that they use for gaming and can re purpose t when they are not using it for gaming. Yes there will be farms of these too but they are far less pervasive and people still seem to make a reasonable return with these.

For GPU, I suggest Phi or Phi 2 because of the lowered power requirements but and GPU only algo would be welcome. for CPU, perhaps the algo used by Monero and its various derivatives, simply because this is very popular and well tested and gets regular updates ensuring that and attempts to use it with ASICs are thwarted.

Please consider changing the POW algo for a CPU or GPU one and run it for awhile. If we can do this before any switch to POS only, I think you will see people warm to it. Plenty of other coins run POS, POW and MN together and the users are happy with the POW staying.

I am really worried that without POW, we are going to see a considerable loss of value. Please consider my alternative of using CPU or GPU algo instead.

ASICS go for $1500 for 620MH (700MH Overclocked)at 750 watt.  Having the best difficulty adjustment is king no matter what.  Its profitability code that are finding these weaknesses, the best way to combat is with good difficulty code.  GPU/CPU/ASICS all have profit pools that auto pay in your desired coin.  SCRYPT in the short to medium term for this coin is a good choice. 

[xX_otto_Xx]

 Ignition Coin Pool

http://kickinhash.com/

-o stratum+tcp://kickinhash.com:3433 -u <WALLET_ADDRESS> -p c=IC


 Ignition Coin Explorer

http://kickinhash.com/explorer/IC

[Richard.D.James]

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and if you had done that ...take a look at the Lab ^^

https://pool.stakinglab.io/ref/977e7a055a

Best staking together ...and mate,sorry for the affliate inside-you got no disadvantage of it but you are welcome to kick it out if you want 

[gratiolex]

Ok, I am in. Glad that I found this project and after reading the third-party estimates just ensured in my choice.
Almost the lowest price in the history of the coin, given the active development, many promising improvements and a strong community, it can be a very successful project in the future.

[LycheeBit]

IgnitionCoin is available on LycheeBit mining pool
HAPPY MINING

MINING IGNITIONCOIN WITH SCRYPT ALGO :

• Stratum  : lycheebit.com:3433 (fully NiceHash compatible & optimized)
• User     : YOUR_IC_ADDRESS
• Password : c=IC

LYCHEEBIT INFO :

• Website  : https://www.lycheebit.com/
• Payout   : Every hour
• Fee      : 1.00 %

MINING SOFTWARE :

• GPU Nvidia ccminer : https://github.com/tpruvot/ccminer/releases
• GPU AMD sgminer    : https://github.com/nicehash/sgminer/releases
• Warning : GPU mining works, but scrypt algo is much more efficient with ASICS.

EXAMPLES OF COMMAND LINE :

• Nvidia   : ccminer.exe -a scrypt -o stratum+tcp://lycheebit.com:3433 -u icXbzXHzm5dhrPYndDHK4vc9MuVinkpMvz -p c=IC
• AMD      : sgminer.exe -k scrypt -o stratum+tcp://lycheebit.com:3433 -u icXbzXHzm5dhrPYndDHK4vc9MuVinkpMvz -p c=IC

PEERS LIST :

• addnode=45.77.253.149:44144
• addnode=176.31.60.70:44144
• addnode=173.199.118.189:44144
• addnode=100.16.202.232:44144
• addnode=78.56.89.204:44144
• addnode=54.37.111.95:44144
• addnode=86.238.109.149:44144
• addnode=207.246.119.115:44144
• addnode=209.250.227.43:44144
• addnode=142.44.206.209:44144
• addnode=185.207.107.101:44144
• addnode=207.237.32.35:44144
• addnode=[2a01:4020:1:1d::8a42:1763]:53752

[avinash_technoloader]

Hi,

I want to purchase it

[techniumunlimited]

Hi,

I want to purchase it

Its available on
Cryptopia: https://www.cryptopia.co.nz/Exchange/?market=IC_BTC
CoinExchange: https://coinexchange.io
CryptoBridge: https://crypto-bridge.org
StocksExchange: https://stocks.exchange
BiteBTC: https://bitebtc.com

[MidasDevelop]

Hello! We added your coin to our masternode-shared service - Midas Investments https://i.imgur.com/O5k5iGQ.jpg

[HoskinsMatthew]

Their idea is quite attractive in my opinion

[H2C]

IC added to hash-to-coins.com pool