[ANN] [LYNX] Lynx (We fixed Kittehcoin!)

[anotherlateminer]

Did anyone read this post from vaelrock below? When I read the 'environment-friendly' bullshit (sorry for calling it that way, but its the truth) from the OP, I wanted to post this, but vaelrock did it first. How the team is going to react? The reaction is extremely important and urgent to do before this coin is listed on any serious exchange.

As a result of the chosen PoW scheme, the Lynx chain is utterly unsecure!!! If someone doubts, I can rent some scrypt ASICs and easily do a 51% attack on the chain, with doublespends and all other nasty stuff - just to demonstrate this kind of PoW chains with virtually no reward is a no-go! The only reason this chain was not hi-jacked yet, it the absence of incentive - just because there is no exchange to sell it on!

Please switch to PoS or change the PoW scheme, as otherwise this project is doomed. There is a reason why BTC spends all that electricity. Or do you really think Satoshi was an idiot, whom you just proved wrong with your 'revolutionary' concept of no-profit PoW!?

I believe the devs are honest, bur lack some understanding of PoW concepts, thats why I raise this RED ALERT. This is not scam alert, but is a security alert and is equally important!

If you wanted to be eco-friendly, why not Proof of Stake (PoS) or different algorithm like scryt-n, neoscrypt, or other ASIC-resistant algorithms? Kind of seems rigged at this point to have 1 LYNX mined when there was a hard fork from Kitteh where the mining reward scheme was completely different.

Who'd want to mine 1 LYNX at a time? Even if you mined all blocks in a day, 2880 blocks, even at $0.01 a LYNX, that's $28.80. The mining incentives are just all wrong and completely skewed towards someone who owned KittehCoins.

Sun, The objective was to take the economics of the mining for profit concept and turn it on it's head. No one that mines this coin will make money (at least with the current valuations on the street). If the miner is interested in mining for profit, lots of of other coins are great candidates for this. The competition for more hashing power begins and an economically inefficient project unfolds. Our concept is to make it so easy for holders and interested parties to participate in this coin, and at such a low cost, that the barrier to entry would be the lowest that we could find in this space. Instead of feeding a few pigs in a sty, we are feeding bees in a hive. This provides a far more stable platform to build upon. This is the concept at least. It is often forgot in this space that no relationship exists between mining hash power and the ability for the average block time to be met - as long as the hashing power is somewhere between zero and infinity. For a long term sustainable emerging coin concept like ours, our bet is to be closer to zero then infinity. -ben

I'm a very old holder of MEOW (and thus LYNX) so I don't want to hurt this project in any way, but the very reason that there should be an economic incentive to mine a PoW coin and the reason why Bitcoin is a reward for mining in the first place is because by creating competition, you encourage decentralization and thus network stability.
Having no significant reward implies that nearly no one will mine this coin and you could have one entity with 90% of the network hashrate that could attack the network as he see fit. Even without evil intention, if a big miner just hop in and out, Digishield or not, the network could easily fork. Also, having a potential "official" miner with all the hashrate from the dev team isn't a solution as its the opposite of what cryptocurrencies are. The only true solution to be energy efficient is PoS.

As a comparison :
- Current BTC reward is 12.5 BTC every 10mn, or 1800 BTC per day.
  Current circulating supply is 16,873,100 and market cap is $178 billion.
  -> BTC mining is a $18 million market per day.
- Current LYNX reward is 1 LYNX every 30s, or 2880 LYNX per day.
  Current circulating supply is 77,871,394,926 and let's say its market cap will suddenly pump to $1 million (currently $200k).
  ->LYNX mining would be a $0.037 market per day.
Even if the LYNX market cap was equal to BTC, mining market would be a meager $6600 per day. Do you really believe BTC could have a stable network if the incentive to mine it would be this low ? It's the price of 3 Antminer S9.

This might appear unfortunate, but for PoW coins, network stability is only done through competition. If you do not want competition and simply reward MEOW owner, switching to PoS with a very low inflation rate makes much more sense.

Second this.

Devs, please turn this coin into POW/POS hybrid or 100% POS, it will stay "eco-friendly" but be much more secure. Zero reward POW is not gonna work, look what happened to IFC, for example.

[chobani]

Why did you choose to copy the name of an already existing coin? (LINX)

What's next, starting a coin called Lytecoin?

https://image.ibb.co/kgOTq7/Webp_net_resizeimage.jpg

[drays]

Why did you choose to copy the name of an already existing coin? (LINX)

What's next, starting a coin called Lytecoin?

Mr. Chobani, "lynx" is an English word, it is not copied from anywhere. BTW, unlike the made-up word "linx", "lynx" has real meaning. Use the dictionary please.

[giantkin]

SOme humor to it:

   https://en.wiktionary.org/wiki/linx

[sunk818]

Second this.

Devs, please turn this coin into POW/POS hybrid or 100% POS, it will stay "eco-friendly" but be much more secure. Zero reward POW is not gonna work, look what happened to IFC, for example.

Since algo is scrypt, what about merged mining? You don't use any more that what is already being used for scrypt. doge is doing this with litecoin... there's no problem with hashing power there.

dev has this put energy into these rasp pi miners, so using low cpu method to mine is important. merged mining wouldn't help with that, but PoS could work. Again, that means only former kittehcoin owners benefit. Even if low reward stake, no one has any quantity other than previous MEOW coin owners. Or buy on exchange...

[mammothine]

Second this.

Devs, please turn this coin into POW/POS hybrid or 100% POS, it will stay "eco-friendly" but be much more secure. Zero reward POW is not gonna work, look what happened to IFC, for example.

I think the reward system could work. Devs have clearly decided this isn’t mining for profit, but mining just enough to secure the network and earn enough to pay for your own transactions. I think, too, that there are other possibilities for the network down the line that may make us all think differently about mining for rewards, ie, if the ideas that will run on top of Lynx are good enough, there may be plenty of people willing to support the network for free, just to enjoy the benefits of greater returns in Lynx. Just a thought.

[somebody else]

Second this.

Devs, please turn this coin into POW/POS hybrid or 100% POS, it will stay "eco-friendly" but be much more secure. Zero reward POW is not gonna work, look what happened to IFC, for example.

I think the reward system could work. Devs have clearly decided this isn’t mining for profit, but mining just enough to secure the network and earn enough to pay for your own transactions. I think, too, that there are other possibilities for the network down the line that may make us all think differently about mining for rewards, ie, if the ideas that will run on top of Lynx are good enough, there may be plenty of people willing to support the network for free, just to enjoy the benefits of greater returns in Lynx. Just a thought.

I don't agree with PoS variants cause I don't know any good imaplementation of PoS which could work fast while syncing after 1-2 millions of blocks, i.e. 1-2 years in the case of Lynx blocktime 30s.

I like idea of PoS very much if PoS is very low, but current implementations of PoS are very bad for longer term coins.

Possible implementation of the merged mining is good idea.

This I already wrote so you can comment:


"Lynx coins works very fast when you need syncing or resyncing. All my PoS coins are very slow at that jobs, totally uncomparable with the speed of Lynx. I think only one PoS coin which should consider is Peercoin which does not have problems with syncing speed. Novacoin or Blackcoin clones are very bad when coins is more than 1 or 2 year old, by my experience."


"I will test syncing all of this coins, maybe I will change my view: https://coinsutra.com/proof-of-stake-cryptocurrencies/ "


"First I tested PIVX coin. Syncing of the whole blockchain  lasted more than 4.5 h. Coin is old about 2 years.  Problem which will became extremely big (just like with the vast majority of PoS coins) is exponential growth of time needed to synchronize the blockchain. It means, first year was synchronized at 1 h,  but second year required almost 4 h to finish sinchronization. I think at the next years this coin will become just like the most of the other PoS coins where you have to wait big time, few hours or evan more time  to synchronize for example 1 last week or 1 last month of the newest blockchain data.
Also, PIVX has block time 60s, and Lynx has block time 30s. In the case of the introducing PoS and the same/similar way of the calculating PoS, Lynx could have big problem with the blockchain syncing after 1 or 2 years after the possible  PoS forking time which will escalate further with the time and the acceptance.
At the current state, Lynx syncing time is very fast. Similar coins which is reviving last months is Argentum which became similar to DigiByte (I think). Argentum's syncing is also very fast, a bit faster than Lynx cause of  block time 45s. In the recent forks, Argentum introduced  4 new algos: Lyra2re2 (GPU)
Myr-Groestl (GPU/ASIC)
Argon2d (CPU)
Yescrypt (CPU/GPU)   as addition to scrypt and sha256d. I think while mining each algo is used to mine one coin block after previous one which is mined by previous algo  from the algo serie.
Maybe this DigiByte/Argentum  multi-algo coin way  is better than introducing PoS. What do you think?"



"PoS implementations is very bad on every coins i tried, except (MAYBE) in Peercoin which has bigger block time than Lynx for example. Such coins are not suitable for regular and longer term use. For those coins with short blocktime like Lynx has, problems with the long time syncing startss even at its 1st year and despite its no wide acceptance. If this coin is short term game, then everything mentioned is not important."


Additional: PIVX is 2 years old coin, and now it has only 1 million blocks, and at this moment its PoS and masternodes implementation seems better than implementation at Novacoin or Blackcoin clones. But exponential growth of the syncing time is easy to notice by measuring synced blocks and passed time. At the current time and state this implementation is quite good.



I have more than 10 PoS coins, and all of them are very bad, very slow while resyncing after 1-2 millions of blocks. I think all of them are based on Novacoin or Blackcoin, and all of them have bad implementation while syncing (very slow, it depends on the current number of blocks in the blockchain) including Novacoin and Blackcoin.

Current implementation of Lynx is very fast, Lynx is one of the fastest coins while syncing or resyncing and I like that very much. By known PoS implementation it will be heavy ruined after quite short time, I think and would not like to check it.

Which coin have the best PoS implementation and don't have slow syncing or resyncing which getting worse exponentially by the time? (coin should be old more than 2 years, and coin should have more than 2 millions of  "PoS-ing blocks")

[Caliber]

RIght On Man!!!  Back Live on the LTC Markets at CRYPTOPIA!!!
 

[zyrenhufalar11]

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

[anotherlateminer]

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

Yes, Elon Musk is going to pump LYNX to >100 satoshi soon. Buy now before it is too late!

[John Nathan]

projects and innovations that are very helpful in the world of health. make it easy for us all to know the condition of our body. the tool was so modern and elegant. hopefully with this project we will all be more concerned with our health.

[bonser24x]

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

Yes, Elon Musk is going to pump LYNX to >100 satoshi soon. Buy now before it is too late!

are you serious?

[stevetrac]

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

Yes, Elon Musk is going to pump LYNX to >100 satoshi soon. Buy now before it is too late!

are you serious?

just out of interest what is  'hodling shit'

[tiCeR]

Isn't there also a car company similar to Uber that is called Lynx? Why do you call your project Lynx, what is the idea?

[somebody else]

Isn't there also a car company similar to Uber that is called Lynx? Why do you call your project Lynx, what is the idea?

At the official homepage of Lynx Ben, who is the development leader of this rebranded coin, wrote: " It’s also our way of paying homage to the text-only web browser (Lynx) we used back in college in 1994."

It means, Lynx browser is one of the first internet browsers (1992), and is still in development!!!

Btw, zoologists consider lynx as the biggest cat who can meow.

So, this coins will continue where its predecessor stopped.

[anotherlateminer]

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

Yes, Elon Musk is going to pump LYNX to >100 satoshi soon. Buy now before it is too late!

are you serious?

just out of interest what is  'hodling shit'

FRK, MAX, FLT and other shitcoins. Hopefully good times will come and will dump them on someone.

[darkillusion]

still hoping to get updates here 

[tiCeR]

Isn't there also a car company similar to Uber that is called Lynx? Why do you call your project Lynx, what is the idea?

At the official homepage of Lynx Ben, who is the development leader of this rebranded coin, wrote: " It’s also our way of paying homage to the text-only web browser (Lynx) we used back in college in 1994."

It means, Lynx browser is one of the first internet browsers (1992), and is still in development!!!

Btw, zoologists consider lynx as the biggest cat who can meow.

So, this coins will continue where its predecessor stopped.

Thank you for the info. That's definitely good to know about this project, I just was confused the name with a completely different company.

[somebody else]

This pool would like to support Lynx coins projects. Add them to the list on the first page:

http://pool.luckyaltcoin.com/

[Pro_x]

Hey all, nice to see old Meow is back! Transfer from old kitteh wallet to lynx wallet is working without problems with copy-paste wallet.bat file. Thanks to devs for bringing this old coin back