[ANN][MCM] Mochimo | Quantum-Proof Cryptocurrency | Official Announcement [ANN]

[deathray1236]

This project sounds really interesting. Hope to see more updates soon. Good luck!

[Huokoden]

Can i mine this with GPU currently i have 1070 mining rig ?

[p3ngu1n]

It is an interesting project.
I can hardly wait for white paper and source code announcement.

[Minator1]

Create a Discord Chanel

[bewmint]

OH, interesting coin.

[brothachen]

Looking forward to testing with you!

[badstars]

This could be interesting. Couple of questions:

You say you started from a blank page. Will it all be open source? Miner as well? Because I assume you will release your own miner if you go with your new algo.
If so, please pay for a GitHub account and keep it Private 😎 leaked public GitHubs seems to be a thing these days.

Are you planning on making pools available at launch or will we need to solo mine initially?

Make sure your lead dev eats, otherwise he won't make it til launch.

One of the things that has been missing from the crypto world is a project built with the intention of providing a reference architecture to the community at large, and a codebase that is carefully documented so as to be easily understood.  Our cryptocurrency literally has a manual. 

Now, an important distinction: The Mochimo Project has produced a cryptocurrency engine.  Our flagship proof-of-concept transaction network & currency is $MCM.  The source code for the engine is available with a "compile-only" EULA, meaning the end-user is only allowed to compile and run it, not modify it or clone it.  Everything else is open-source w/attribution under the MIT license, including the miner, wallet software, blockchain explorer, etc.

What this means is, if a person or organization wants to create a clone of the Mochimo currency (for example for the purposes of extending it or adding something new to it), two things are true:

1) It will be super easy, because it is a very well-documented code-base designed to be understood and modified by future generations.
2) They will have to pay the Mochimo Steering Committee a licensing fee for the privilege.

Do we think everyone will respect our license requirements?  Let's just say the 800K premine of $MCM that is allocated to the Mochimo Steering Committee is expected to go to legal fees for those who don't want to respect our intellectual property.

As for your last question about pools:  This really comes down to how quickly we can deliver on our other targets.  It is not a pre-launch priority, just a nice-to-have.

Thanks for a solid answer.

Why I'm extra pro-pools in your case is because it's new tech, meaning it's likely many will have issues getting started with solo mining. That in turn gives a poorer distribution.

But don't get me wrong, I like your clear launch date and perhaps you are planning something else, like a ramp up of block rewards to make sure we get a good distribution from the beginning.

No nicehash at least helps with that 😎

[pinball_wizard]

Seems really an interesting project. Something different, please tell us some more on the algo...only GPU so? If somebody want to partecipate to the testnet?

And yes...please....create a Discord channel!

[ismturk]

Seems to be a good one. waiting for the wp and mining details.

[starsailor11]

I recently read about quantum computing and its implications on cryptocurrency, and it's definitely on the horizon. I am keeping an eye on this project.

Just a question to the team about coin distribution though. If you get MCM at a 1:1 ratio to bitcoin, doesn't it make the distribution limited to a small group of people who already have lots of bitcoin? Not that I am questioning the morality if your ICO or anything like that.. I'm curious, will there be any other ways to purchase MCM, especially for tiny bitcoin bag holders..:p

[mochimodev]

I recently read about quantum computing and its implications on cryptocurrency, and it's definitely on the horizon. I am keeping an eye on this project.

Just a question to the team about coin distribution though. If you get MCM at a 1:1 ratio to bitcoin, doesn't it make the distribution limited to a small group of people who already have lots of bitcoin? Not that I am questioning the morality if your ICO or anything like that.. I'm curious, will there be any other ways to purchase MCM, especially for tiny bitcoin bag holders..:p

Well.  Check out our reasoning, and tell us what you think:  Mochimo is taking a long-game approach to being a replacement for all these quantum-vulnerable cryptocurrencies, like $BTC.  The thought process behind releasing $MCM 1:1 to holders of the flagship currency in the ecosystem ($BTC) is to carry all of the most active players in the space into $MCM, thereby incentivizing participation in our currency.  Now to answer your question regarding distribution:

There are something like 16.8 Million Bitcoins in circulation with a total cap of 21 Million.  With Mochimo $MCM we have 2^56/10^9 coins =  72,057,594 $MCM, what that means is that yes - existing $BTC whales and long term HODLers of $BTC will get a significant stake.  However, the remaining coins (after the ~4 Million $MCM premine) with still be mineable, and that's roughly 51.2 Million coins.

Now, as of Friday, the team has finalized our selection of mining algorithms.  We had three finalists, a) typical HASH256, which is a sha-in-sha a la Bitcoin, b) Cryptonight, c) Trigg's Algorithm.  There was a discussion, to describe it politely.  It lasted four hours, and we came to a final consensus.  Of the arguments on offer, the thing that really closed the deal for the people on the HAS256 and Cryptonight contingents (I was one of them), was that Trigg's algorithm is a brand new, level playing field that is ASIC-resistant.

We concluded, in summary, that we are already rewarding the existing crypto community sufficiently with the 1:1 BTC:MCM distribution, and that newcomers should be able to mine at home using Trigg's Algorithm, thus making it possible for our engaged early-adopters to accumulate large amounts of coins early with commodity hardware (home PCs, etc).

All of that said, the Mochimo Dev team is doing everything possible to take the long view on this coin and its development.  We welcome your input and feedback on these ideas.  Please feel free to find out slack page and jump into the discussions.  It is linked on our website.

[starsailor11]

I recently read about quantum computing and its implications on cryptocurrency, and it's definitely on the horizon. I am keeping an eye on this project.

Just a question to the team about coin distribution though. If you get MCM at a 1:1 ratio to bitcoin, doesn't it make the distribution limited to a small group of people who already have lots of bitcoin? Not that I am questioning the morality if your ICO or anything like that.. I'm curious, will there be any other ways to purchase MCM, especially for tiny bitcoin bag holders..:p

Well.  Check out our reasoning, and tell us what you think:  Mochimo is taking a long-game approach to being a replacement for all these quantum-vulnerable cryptocurrencies, like $BTC.  The thought process behind releasing $MCM 1:1 to holders of the flagship currency in the ecosystem ($BTC) is to carry all of the most active players in the space into $MCM, thereby incentivizing participation in our currency.  Now to answer your question regarding distribution:

There are something like 16.8 Million Bitcoins in circulation with a total cap of 21 Million.  With Mochimo $MCM we have 2^56/10^9 coins =  72,057,594 $MCM, what that means is that yes - existing $BTC whales and long term HODLers of $BTC will get a significant stake.  However, the remaining coins (after the ~4 Million $MCM premine) with still be mineable, and that's roughly 51.2 Million coins.

Now, as of Friday, the team has finalized our selection of mining algorithms.  We had three finalists, a) typical HASH256, which is a sha-in-sha a la Bitcoin, b) Cryptonight, c) Trigg's Algorithm.  There was a discussion, to describe it politely.  It lasted four hours, and we came to a final consensus.  Of the arguments on offer, the thing that really closed the deal for the people on the HAS256 and Cryptonight contingents (I was one of them), was that Trigg's algorithm is a brand new, level playing field that is ASIC-resistant.

We concluded, in summary, that we are already rewarding the existing crypto community sufficiently with the 1:1 BTC:MCM distribution, and that newcomers should be able to mine at home using Trigg's Algorithm, thus making it possible for our engaged early-adopters to accumulate large amounts of coins early with commodity hardware (home PCs, etc).

All of that said, the Mochimo Dev team is doing everything possible to take the long view on this coin and its development.  We welcome your input and feedback on these ideas.  Please feel free to find out slack page and jump into the discussions.  It is linked on our website.

Hello dev,
I really appreciate the thoughtful response!
While I understand your point of view and reasoning behind it, I'm not sure if it's the best way.

MCM hopes to be a replacement to all quantum-vulnerable currencies, then why not open up the registration to everyone, maybe as an airdrop campaign. I don't agree with the notion that btc holders are the most active participants in crypto; active participants can come from holders of any coin, anyone who is interested and believes in the innovation we are witnessing right now.

These are some points I'd like to discuss about your current distribution model.

I support that you are taking a long-game approach, after all quantum computing isn't perceived as an immediate threat to crypto yet. By giving btc holders MCM 1:1, you are replicating the current rich list, essentially. I feel that you are counting on btc holders seamlessly transitioning to MCM when the time comes. My question to you is this: Why give btc holders FREEBIES when they haven't done anything for MCM? Reward those who are interested in what you are doing, and who are willing to actively support your project. Additionally how do you guarantee that the btc holders will transition to MCM, not other quantum-proof coins? Just because people got their coins for free, it doesn't mean that they will use it.

With your model, you are counting on a community that will be built in the future, not now. Also, why assume that btc will be as strong as it is now, when quantum computing comes around? It seems little risky to put all your eggs in btc like that.

As for mining, personally I'm not sure why I would want to mine something that btc holders got for free. Not to mention, mining isn't something that newcomers typically get into...Very high entry cost now - however I am not too familiar with mining, so let me know if I'm wrong.

Anyway, hope you see my perspective. I'm not saying that I know what is best, but I think your project is cool and just wanted to discuss.

ps. I am in your slack. I will speak up when I have some time, tied up with life at the moment..

[onemanatatime]

Keeping an eye on this

[TheCryptoPope]

I recently read about quantum computing and its implications on cryptocurrency, and it's definitely on the horizon. I am keeping an eye on this project.

Just a question to the team about coin distribution though. If you get MCM at a 1:1 ratio to bitcoin, doesn't it make the distribution limited to a small group of people who already have lots of bitcoin? Not that I am questioning the morality if your ICO or anything like that.. I'm curious, will there be any other ways to purchase MCM, especially for tiny bitcoin bag holders..:p

Well.  Check out our reasoning, and tell us what you think:  Mochimo is taking a long-game approach to being a replacement for all these quantum-vulnerable cryptocurrencies, like $BTC.  The thought process behind releasing $MCM 1:1 to holders of the flagship currency in the ecosystem ($BTC) is to carry all of the most active players in the space into $MCM, thereby incentivizing participation in our currency.  Now to answer your question regarding distribution:

There are something like 16.8 Million Bitcoins in circulation with a total cap of 21 Million.  With Mochimo $MCM we have 2^56/10^9 coins =  72,057,594 $MCM, what that means is that yes - existing $BTC whales and long term HODLers of $BTC will get a significant stake.  However, the remaining coins (after the ~4 Million $MCM premine) with still be mineable, and that's roughly 51.2 Million coins.

Now, as of Friday, the team has finalized our selection of mining algorithms.  We had three finalists, a) typical HASH256, which is a sha-in-sha a la Bitcoin, b) Cryptonight, c) Trigg's Algorithm.  There was a discussion, to describe it politely.  It lasted four hours, and we came to a final consensus.  Of the arguments on offer, the thing that really closed the deal for the people on the HAS256 and Cryptonight contingents (I was one of them), was that Trigg's algorithm is a brand new, level playing field that is ASIC-resistant.

We concluded, in summary, that we are already rewarding the existing crypto community sufficiently with the 1:1 BTC:MCM distribution, and that newcomers should be able to mine at home using Trigg's Algorithm, thus making it possible for our engaged early-adopters to accumulate large amounts of coins early with commodity hardware (home PCs, etc).

All of that said, the Mochimo Dev team is doing everything possible to take the long view on this coin and its development.  We welcome your input and feedback on these ideas.  Please feel free to find out slack page and jump into the discussions.  It is linked on our website.

Hello dev,
I really appreciate the thoughtful response!
While I understand your point of view and reasoning behind it, I'm not sure if it's the best way.

MCM hopes to be a replacement to all quantum-vulnerable currencies, then why not open up the registration to everyone, maybe as an airdrop campaign. I don't agree with the notion that btc holders are the most active participants in crypto; active participants can come from holders of any coin, anyone who is interested and believes in the innovation we are witnessing right now.

These are some points I'd like to discuss about your current distribution model.

I support that you are taking a long-game approach, after all quantum computing isn't perceived as an immediate threat to crypto yet. By giving btc holders MCM 1:1, you are replicating the current rich list, essentially. I feel that you are counting on btc holders seamlessly transitioning to MCM when the time comes. My question to you is this: Why give btc holders FREEBIES when they haven't done anything for MCM? Reward those who are interested in what you are doing, and who are willing to actively support your project. Additionally how do you guarantee that the btc holders will transition to MCM, not other quantum-proof coins? Just because people got their coins for free, it doesn't mean that they will use it.

With your model, you are counting on a community that will be built in the future, not now. Also, why assume that btc will be as strong as it is now, when quantum computing comes around? It seems little risky to put all your eggs in btc like that.

As for mining, personally I'm not sure why I would want to mine something that btc holders got for free. Not to mention, mining isn't something that newcomers typically get into...Very high entry cost now - however I am not too familiar with mining, so let me know if I'm wrong.

Anyway, hope you see my perspective. I'm not saying that I know what is best, but I think your project is cool and just wanted to discuss.

ps. I am in your slack. I will speak up when I have some time, tied up with life at the moment..

I completely agree with this. I think that by giving people the opportunity to partake in it by participating in airdrops, faucets and so on will automatically engage them as a community member (e.g. Raiblocks - not that I'm a fan). On the other hand, you have projects like GBYTE that airdrops to BTC holders - it is basically dumped.

To me, it makes a lot more sense to give people an opportunity to have some of it - if we want to have good community support.

I'm really interested in this project, will be watching it closely. Hit me up if you need translation to Portuguese and/or French.

Cheers,

[fitzillacrypto]

Waiting to mine using Threadrippers in April

[Bthegreat]

I will be on the lookout for this project.
DO you have discord channel?

[mochimodev]

I will be on the lookout for this project.
DO you have discord channel?

Thanks for asking.  We have a slack channel.  Here is an invite link:

https://join.slack.com/t/mochimo/shared_invite/enQtMzA4NDc3NDU3MzY2LTUwOGExMmM1YWFmMzhiYzdmOWQ5MzcxYzE1MmM3YTA5ZGVlNzZjMGJkZTc1YjM3NGQ3MTVlNWMxYzhiYWQ4NDg

This is the best place to ask questions about the project.

Thank you!

[HighBeam]

Interesting project. I will watch this. 5% premine is quite high, however.

[Ghostboy88]

First off I'd like to say that I really like this project and it's refreshing to see something that's not some sort of copy and paste.

The five percent premine therefore isn't as unreasonable as some here think. In fact I'd much rather you went that route than an ICO.

However I do have a question about the BTC holders freebies that I hope you can answer.

Why would I mine this coin on day one or any time early on when I could throw my CPU mining power at let's say monero and wait for the BTC holders who got there freebies to dump there coins and drive the price way down. Then convert the Monero to BTC to mochimo and actually acquire more than if I mined directly , without actually adding anything to the network.

I understand that your hoping to get major crypto influencers on side which I applaud but many will simply dump there coins at the first chance. Have you considered having a really short cut-off period for BTC holders to claim there freebies , like so short that Mochimo isn't even listed on any exchanges yet so that when they do dump there coins it's most likely in the short spell after the exchange listing so the price impact long term is minimal and the only BTC holders with freebies long term as those with a genuine interest in the project.

Have joined the slack and will be watching this project closely really like what you guys are doing , keep it up.

[togethers]

I can not wait for mining.