[ANN] Extremecoin (EXC) - MANDATORY UPGRADE VERSION 1.5 (Kimoto Gravity Well)

[CaptChadd]

I am working on the client update Version 1.1

This will include added checkpoints, a fixed transaction fee and Icon changes, to give a slight custom look to the client.

This fee will be there ready for when the block reward stops so the miners still going can get some reward back from the fees.

This should hope to safe guard the future of EXC and let it continue pass it 2 month period.

Getting the coin on an exchange is really going to help this, so for any supporters of this new Crypto, lets try and push that if we can.

It will be interesting to see how this coin would trade on an exchange with only 4 million total coins in circulation. With transaction fee's, trading and service/product purchases the only way to get hold of any EXC.

Then I can look over the next few weeks at how the fixed transaction system is playing out and it is needs to be tweaked a little.

Any due bounties will be paid today.

Many thanks

[1714021641]

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[1714021641]

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[1714021641]

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[CaptChadd]

Bounty paid to Lollaskates for putting up the first pool and so quickly too.

Details of payment:

Status: 1/unconfirmed
Date: 18/08/2013 10:07
To: Lollaskates EXC Pool PPzTJbeBhUsVdBpJow5e8EzRTW9gV1nZf6
Debit: -5000.00 EXC
Transaction fee: -0.04 EXC
Net amount: -5000.04 EXC
Transaction ID: fbe6bbbee43ceaeef1f77c4d5c3d9000b23cdeaa34207aa7c48c92d806aa0f16

[CaptChadd]

I am also brainstorming other ways to motivate miners to continue to mine EXC, other than standard TX fee's once the block rewards have stopped.

This could involved a P2Pool and the sendmany system but these are all the ideas.

If anyone in the community has some great input in this matter, I would be grateful, this is not my coin, I just developed and released it, it is the community's coin now backed by those that mine it and support it by spreading the word of EXC.

That's why I love the decentralisation trait of all of most of these currencies.

[faiza1990]

Woo! Love a new coin Thanks CaptChadd!

[erundook]

ExtremeCoin Pool: http://exc.cryptc.me

DDOS Protected
2% Fees
Payout at 30 Confirms! (Will reduce over time as more miners join the pool)
PushPool (PROP) | US | Tier 1 Bandwidth + Latency
Mining (Stratum): stratum+tcp://mining.cryptc.me:9004

Enjoy!

cloudflare does not protect you from DDoS unless you're on business account paying $200/mo. But you provide mining.cryptc.me host which doesn't stand behind cloudflare which makes you vulnerable for DDoS attacks anyway. Saying this just to scatter your confidence you're protected.

[CaptChadd]

Hi all,

Just to let you know that Extremecoin is now on Twitter : @Extremecoin

This will be the best place to keep updated about this coin and to get information out quickly.

I will be using it loads over the coming weeks and updating it literally as I make changes to the soon to be released Version 1.1 update which will be mandatory, as it will have updates to help keep your coin safer.

Thanks

[crendore]

WTB 500,000 EXC for 1 BTC.

lol .. nice try

in the pool
anonymous   39,748Kh     makes   15,704.979EXC /day (likely less as the  predictions are always high)

noone is going to mine 40 mh for
0.032Btc a day
0.00082btc/mh/day

4mil coins ever? you have valued the total coin count at 8 BTC

lol, it was obviously a joke. people take this shit way too seriously.

[crendore]

New offer. 200,000 EXC for 1BTC.

[makafeli]

WTB 100.000 for 0.6 BTC

[CaptChadd]

New offer. 200,000 EXC for 1BTC.

That would mean you place the value of all the EXC coin at 20 Bitcoins.

The price of owning every single coin in a Crypto-Currency at just 20 Bitcoins, it does not matter if it is even for this coin, for any crypto that price is so cheap that a part time trader could buy them all up without blinking.

I don't think anyone will accept your offer, not now at least.

[Jaden]

I'm in. Will be interesting to see what happens to the prices of this coin when the mining ends. Thanks CaptChadd.

[atomicchaos]

I'm in. Will be interesting to see what happens to the prices of this coin when the mining ends. Thanks CaptChadd.

It will die since nobody will mine it for fees, nor will anyone build any infrastructure (ie stores) to support it because of that knowledge.

[FlungSpun]

Thinking off the top of my head, there is an opportunity here to experiment a little

Coins seem to get ravaged when they hit an exchange only to end up in obscurity and often never gather any real interest beyond the PumpnDump.

The mining cycle of this coin is short to say the least and EXC will have to overcome the challenge of faltering miner interest sooner than most.

So

How will it pan out if it's kept off any major exchange until the mining phase is over?
When PoS work, assuming that's the direction you go in, is the sole generator of new coin?

This will allow supporting miners to claim their stakes now and be assured of a continuous income come exchange time.

The couple of months in hand can then be used to get this coin useful.


Is the 4mill a hard cap?
transaction fees high enough to keep this coin safe and stable are going to kill it as far as I can see.

[Lollaskates]

ExtremeCoin Pool: http://exc.cryptc.me

DDOS Protected
2% Fees
Payout at 30 Confirms! (Will reduce over time as more miners join the pool)
PushPool (PROP) | US | Tier 1 Bandwidth + Latency
Mining (Stratum): stratum+tcp://mining.cryptc.me:9004

Enjoy!

cloudflare does not protect you from DDoS unless you're on business account paying $200/mo. But you provide mining.cryptc.me host which doesn't stand behind cloudflare which makes you vulnerable for DDoS attacks anyway. Saying this just to scatter your confidence you're protected.

Yep. My configuration for the mining subdomain is utilizing a different method of protection than cloudflare, whereas the web portal is setup to be protected by cloudflare the moment I decide to flip the switch to business or move it onto my other solution (its a great simple dns provider for free otherwise with great acceleration and caching). The web frontend is the least important part of the pool as miners can continue mining and receiving payouts. Thanks for your investigative work, though unnecessary and erroneous.

[Jaden]

Naive question, but is the only point of committing a DDoS attack to just f with someone?

[Jaden]

Where did all of the hashing power go?

[CaptChadd]

I am brain storming lots of ways to keep people mining even after the block reward has gone.

The first is a fixed percentage transaction fee, which is much more fair than a fixed one of say 0.01, as what happens if you want to send someone 0.01, they end up getting nothing from you and the miners get it instead.

The next could be to make a P2Pool with which the miners on that pool can receive random bonus reward from users of EXC who donate and the sendmany idea.

The last one which is more of a question, is if all the people mining EXC right now, don't sell or get rid of their coins or think they might be worth more in the future, would they not mine, even just with a little bit of their hashing power just to help keep the chain running and receive random transaction fee's in the process as a little bonus?

There are a lot of questions as this has never really been done before but it does need to be figured out, as this is going to happen at some point to almost every Crypto-Currency we have at some point in the future.

[Joerii]

The price of owning every single coin in a Crypto-Currency at just 20 Bitcoins, it does not matter if it is even for this coin, for any crypto that price is so cheap.............

I thought you did not launch this coin to make money from it ? It's just an experiment, right ?

But you think it has real value, more then 2k USD.

You're contradicting yourself. If it's just a fun experiment, then 20 BTC is a huge price. Value comes from utility, not from the simple fact that technically it's a cryptocurrency.

I wouldn't even call this a currency, more a crypto experiment.

[crendore]

The price of owning every single coin in a Crypto-Currency at just 20 Bitcoins, it does not matter if it is even for this coin, for any crypto that price is so cheap.............

I stand by my offer.  As an investor, I believe this coin has little value due to it's EXTREME pump 'n dump nature.  The price of crypto is dictated by the traders who buy and sell, not by the dev who created the coin.

This coin will subject to frequent 51% attacks in roughly 2 months.  You obviously have little to no plan for what will happen at the end of the two months.  The silly posts you've been making in your own coin launch thread, clearly display you have absolutely no solid plan for how to deal with the major problem this coin has.

At that point you would be lucky if you could get 0.2BTC for all the Extreme coins out there, let alone 20BTC.

I thought you did not launch this coin to make money from it ? It's just an experiment, right ?
But you think it has real value, more then 2k USD.
You're contradicting yourself. If it's just a fun experiment, then 20 BTC is a huge price. Value comes from utility, not from the simple fact that technically it's a cryptocurrency.
I wouldn't even call this a currency, more a crypto experiment.

Agreed.

[CaptChadd]

The price of owning every single coin in a Crypto-Currency at just 20 Bitcoins, it does not matter if it is even for this coin, for any crypto that price is so cheap.............

I thought you did not launch this coin to make money from it ? It's just an experiment, right ?

But you think it has real value, more then 2k USD.

You're contradicting yourself. If it's just a fun experiment, then 20 BTC is a huge price. Value comes from utility, not from the simple fact that technically it's a cryptocurrency.

I wouldn't even call this a currency, more a crypto experiment.

I am not doing this to make profit of it, I still stand by what I said.

However I imagine that most of the people mining this coin would like to make some profit and try to get a general feel for the worth of what they are mining.

I have said it so many times but I will again. I make my money in the Crypto side of things, with BTC to USD and smaller trades with other Alt-coins but never my own.

I don't and never will make a coin for personal profit, in fact right now I am making a loss from Extremecoin due to the website hosting for it but I except that loss as this is my hobby and I enjoy it.