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Author Topic: [ANN][Datacoin] Datacoin blockchain start announcement (Minor code upd + logo)  (Read 159435 times)
antp1114
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November 19, 2013, 11:17:11 PM
 #181

Anyone bought or sold these? Do they have any market value atmo? Any idea where the price is at?

I agree, has anyone found a fair market value in btc or usd yet?
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oocook5u
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November 20, 2013, 12:48:39 AM
 #182

In my understanding, a transaction with or without extra data always have a 0.05 DTS fee?

If 1Kb or 128Kb of data is push in the data field, the price is always the same 0.05 DTS?

Thanks

I think this is correct but would need the developer to confirm.

Yes, this is a min tx fee.
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November 20, 2013, 01:09:01 AM
 #183

So the transaction fee does not increase with the size of the data being sent?  Personally, I think the more someone stores in the blockchain the more they should have to pay in a fee.
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November 20, 2013, 01:30:15 AM
 #184

So the transaction fee does not increase with the size of the data being sent?  Personally, I think the more someone stores in the blockchain the more they should have to pay in a fee.

Sorry, I'm not clear enough Sad
Here are details and example:

Minimal tx fee is 0.05DTC => any tx will cost at least 0.05DTC
1Kb fee is also 0.05DTC => tx fee = tx size * 0.05DTC

Let's check how this works (I use non-hp version of daemon and perl scripts from https://github.com/foo1inge/datacoin-browser):

"balance" : 31.83000000,

$ perl dtc_put_file.pl ubuntu-12.04.3-alternate-amd64.iso.torrent
db0bbf965ee6da1d6e546b5d5b0d6f8a0934687d9ea7b9fd9af91491cfb7011a

"balance" : 30.33000000,

ubuntu-12.04.3-alternate-amd64.iso.torrent is 29Kb long

Total fee for 29Kb (+ some meta information added by scripts) is 1.50 DTC (30Kb * 0.05 = 1.50).
cryptohunter
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November 20, 2013, 02:03:59 AM
 #185

So the transaction fee does not increase with the size of the data being sent?  Personally, I think the more someone stores in the blockchain the more they should have to pay in a fee.

Sorry, I'm not clear enough Sad
Here are details and example:

Minimal tx fee is 0.05DTC => any tx will cost at least 0.05DTC
1Kb fee is also 0.05DTC => tx fee = tx size * 0.05DTC

Let's check how this works (I use non-hp version of daemon and perl scripts from https://github.com/foo1inge/datacoin-browser):

"balance" : 31.83000000,

$ perl dtc_put_file.pl ubuntu-12.04.3-alternate-amd64.iso.torrent
db0bbf965ee6da1d6e546b5d5b0d6f8a0934687d9ea7b9fd9af91491cfb7011a

"balance" : 30.33000000,

ubuntu-12.04.3-alternate-amd64.iso.torrent is 29Kb long

Total fee for 29Kb (+ some meta information added by scripts) is 1.50 DTC (30Kb * 0.05 = 1.50).

Those fee can't be correct can they?  any tx fee is 0.05DTC?  the entire blocks are only 15DTS and shrinking.

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Samoshi
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November 20, 2013, 02:21:03 AM
 #186

So the transaction fee does not increase with the size of the data being sent?  Personally, I think the more someone stores in the blockchain the more they should have to pay in a fee.

Sorry, I'm not clear enough Sad
Here are details and example:

Minimal tx fee is 0.05DTC => any tx will cost at least 0.05DTC
1Kb fee is also 0.05DTC => tx fee = tx size * 0.05DTC

Let's check how this works (I use non-hp version of daemon and perl scripts from https://github.com/foo1inge/datacoin-browser):

"balance" : 31.83000000,

$ perl dtc_put_file.pl ubuntu-12.04.3-alternate-amd64.iso.torrent
db0bbf965ee6da1d6e546b5d5b0d6f8a0934687d9ea7b9fd9af91491cfb7011a

"balance" : 30.33000000,

ubuntu-12.04.3-alternate-amd64.iso.torrent is 29Kb long

Total fee for 29Kb (+ some meta information added by scripts) is 1.50 DTC (30Kb * 0.05 = 1.50).


Thanks for clearing that up.

So 0.05 DTC = 1Kb of storage.

I like it!
MessyCoin
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November 20, 2013, 02:23:14 AM
 #187

Those fee can't be correct can they?  any tx fee is 0.05DTC?  the entire blocks are only 15DTS and shrinking.

I'm sure this 0.05 is just hard-coded in the client and that in future it would be miners that set their "fee threshold" of which blocks to accept (after all, it is the miners that get the fee and pay the storage costs).

0.05 seems like the right sort of fee to me at this stage when DTC are relatively easy to get, though I suppose it all depends on how much data you wanted to attach!

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November 20, 2013, 02:38:16 AM
 #188

Personally, I think 1 DC per 1KB would make the mining more valuable.  I also think it would be interesting if there was a way to charge for retrieving files from the blockchains. Not sure how that would work though.
cryptohunter
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November 20, 2013, 02:39:44 AM
 #189

how many DTC exist right now? anyone know?

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simbo
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November 20, 2013, 03:04:28 AM
 #190

Anyone mining it???

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November 20, 2013, 03:51:06 AM
 #191

Anyone bought or sold these? Do they have any market value atmo? Any idea where the price is at?
Selling at about 0.0002 DTS/BTC last time I checked.

Bitcoin Dev / Storj - Decentralized Cloud Storage. Winner of Texas Bitcoin Conference Hackathon 2014. / Peercoin Web Lead / Primecoin Web Lead / Armory Guide Author / "Am I the only one that trusts Dogecoin more than the Federal Reserve?"
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November 20, 2013, 04:48:05 AM
 #192

You can buy a 1 TB disk for about 1BTC or less.  So 1 kb costs about 1/1000 000 000 BTC = 0.05 DTC (hard-coded)

So 1 DTC should equal about 20/1000 000 000 BTC = 0.00000002BTC

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November 20, 2013, 05:50:36 AM
 #193

oocook5u, any reason why you did not include a filename field along with the data field? Or is the data storage supposed to be obscure so its only retrievable by those who know what is stored there?
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November 20, 2013, 06:18:44 AM
 #194

You can buy a 1 TB disk for about 1BTC or less.  So 1 kb costs about 1/1000 000 000 BTC = 0.05 DTC (hard-coded)

So 1 DTC should equal about 20/1000 000 000 BTC = 0.00000002BTC

lol, remember that it is not simply local storage, it is backed up on couple of computers Smiley remember how much does it cost to get 1TB storage on VPS, for example. And hosting provider can shut down VPS or delete info from disk - no such way for datacoin

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
BTC: 1FgUGra685ZwkrX5VnRvfaYp4bHJhC7x4H
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November 20, 2013, 06:37:10 AM
 #195

how many DTC exist right now? anyone know?

There exists ~450K DTC right now. It should be only near 20K DTC per day created when difficulty and network primes\sec balance. Now network is stabilizing, difficulty adjusting

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
BTC: 1FgUGra685ZwkrX5VnRvfaYp4bHJhC7x4H
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November 20, 2013, 06:39:06 AM
 #196

Personally, I think 1 DC per 1KB would make the mining more valuable.  I also think it would be interesting if there was a way to charge for retrieving files from the blockchains. Not sure how that would work though.

Hopefully DTC will gain good value in BTC\USD\etc, so fully loaded block (50+ DTC as I remember) will give good profit to miner.

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
BTC: 1FgUGra685ZwkrX5VnRvfaYp4bHJhC7x4H
tubbyjr
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November 20, 2013, 08:54:39 AM
 #197

I see this coin as having huge potential, probably none monetarily for a while, but in terms of informational value, it supercedes any coin to date. Wikileaks could have a huge use for this coin, having whistleblowers post leaks through Datacoin, ensuring anonimity on leakers side, along with the full integrity of the information. Once information of value starts coming in, there will be some serious monetary value to this coin. I'll be looking to get all machines I know running on it!
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November 20, 2013, 10:13:14 AM
 #198

I see this coin as having huge potential, probably none monetarily for a while, but in terms of informational value, it supercedes any coin to date. Wikileaks could have a huge use for this coin, having whistleblowers post leaks through Datacoin, ensuring anonimity on leakers side, along with the full integrity of the information. Once information of value starts coming in, there will be some serious monetary value to this coin. I'll be looking to get all machines I know running on it!

Yes. Does anyone have possibility to post news on large cryptocurrencies or just IT sites? I created article in big Russian IT community, maybe someone will be interested for using this storage. But it is only Russian, not worldwide. If required, I can translate that post, or anyone other who writes good technical articles can write it and post it to other site.

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
BTC: 1FgUGra685ZwkrX5VnRvfaYp4bHJhC7x4H
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November 20, 2013, 03:12:33 PM
 #199

@maxsolc:  

I agree with you, Datacoin should rather be compared to VPS services.  I checked around and I see roughly 1BTC per TB per month.  So say over 5 years about 60 BTC for 1 TB storage.

You get 20kb storage for 1 DTC (hard coded).  So 50 million DTC to store 1 TB.  

Therefore 1 DTC = 60BTC/50 000 000 = 0.0000012 BTC

Or 1 BTC = 833 333 DTC

Don't get me wrong - I love this coin because it has real value.  It is backed by file storage (and some bandwidth), which is worth something.  The assets of the p2p network are bandwidth, file storage and parallel processing.  Coins which monetize these assets automatically have value and should be successful.  The other coin I like is Gridcoin, which offers BOINC processing.

@oocook5u:  

I understand messaging will be implemented in Bitcoin 0.9.  The messages will be pruned immediately, so there will be no bloat to the blockchain.  Datacoin will therefore have messaging, like all other alts who use or inherit the changes to the Bitcoin client.




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November 20, 2013, 03:30:40 PM
 #200

@maxsolc:  

I agree with you, Datacoin should rather be compared to VPS services.  I checked around and I see roughly 1BTC per TB per month.  So say over 5 years about 60 BTC for 1 TB storage.

You get 20kb storage for 1 DTC (hard coded).  So 50 million DTC to store 1 TB.  

Therefore 1 DTC = 60BTC/50 000 000 = 0.0000012 BTC

Or 1 BTC = 833 333 DTC

Don't get me wrong - I love this coin because it has real value.  It is backed by file storage (and some bandwidth), which is worth something.  The assets of the p2p network are bandwidth, file storage and parallel processing.  Coins which monetize these assets automatically have value and should be successful.  The other coin I like is Gridcoin, which offers BOINC processing.

@oocook5u:  

I understand messaging will be implemented in Bitcoin 0.9.  The messages will be pruned immediately, so there will be no bloat to the blockchain.  Datacoin will therefore have messaging, like all other alts who use or inherit the changes to the Bitcoin client.





It's not correct to compare its price with VPS in such way Smiley in case of VPS one user pays for his own storage. In case of Datacoin, roughly speaking, one user pays to all other members of active DTC community. I don't want this coin to be pump-and-dump, because it will lead to complete failure of such great idea. But DTC needs some real value for those who gives their place for storage. Not millions or thousands dollars, but not cents.

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
BTC: 1FgUGra685ZwkrX5VnRvfaYp4bHJhC7x4H
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