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Author Topic: [ANN][Datacoin] Datacoin blockchain start announcement (Minor code upd + logo)  (Read 159278 times)
maxsolnc
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December 23, 2013, 08:32:52 AM
 #781

What are immature coin? Do you need to wait for them to mature before using them?
correct, coins need to mature (3200 confirmations for Datacoin) before you can use them. It takes ~2 days, so wait a bit Wink

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Mortimer452
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December 23, 2013, 09:00:32 AM
 #782

Has there been any thought in dropping the TX fee for storage of files?  Given DTC's current exchange rates, it would cost about $1.00 to store a 40KB MS Word document.  That seems pretty steep.

Might help in getting some traction if the rates were lower.  Also, if there was a way in the wallet GUI to do this instead of command-line.  Of course, this would also probably cause the blockchain to EXPLODE in size.

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

2. It won't explode - remember that max block size is 1MB, and 1 block is generated every minute. And I don't think that people will want to  store gigabytes of data immediately.


Right, I agree $0.50 isn't alot of money but when you've got places like SkyDrive and GoogleDrive offering several GB for free, paying what works out to basically 2.5 cents per KB is pretty steep (current DTC/$USD = $0.50).

Although storing data in the DTC blockchain does have significant advantages, it is very secure (assuming that you encrypt your data), it is PERMANENT and anonymous - no one even knows it's there except you.  And, it is very resilient - a copy of your data exists on every fully synchronized node on the network.

I guess by "explode" I meant the block chain could grow significantly very quickly, if you added a way to add files/data to the blockchain using the GUI wallet.  1MB per minute adds up pretty darn fast.  A year from now -- I'm not going to store the entire 513GB DTC blockchain on my machine just so I can access my 200KB worth of "super secret" documents.
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December 23, 2013, 09:05:35 AM
 #783

Has there been any thought in dropping the TX fee for storage of files?  Given DTC's current exchange rates, it would cost about $1.00 to store a 40KB MS Word document.  That seems pretty steep.

Might help in getting some traction if the rates were lower.  Also, if there was a way in the wallet GUI to do this instead of command-line.  Of course, this would also probably cause the blockchain to EXPLODE in size.

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

2. It won't explode - remember that max block size is 1MB, and 1 block is generated every minute. And I don't think that people will want to  store gigabytes of data immediately.


Right, I agree $0.50 isn't alot of money but when you've got places like SkyDrive and GoogleDrive offering several GB for free, paying what works out to basically 2.5 cents per KB is pretty steep (current DTC/$USD = $0.50).

Although storing data in the DTC blockchain does have significant advantages, it is very secure (assuming that you encrypt your data), it is PERMANENT and anonymous - no one even knows it's there except you.  And, it is very resilient - a copy of your data exists on every fully synchronized node on the network.

I guess by "explode" I meant the block chain could grow significantly very quickly, if you added a way to add files/data to the blockchain using the GUI wallet.  1MB per minute adds up pretty darn fast.  A year from now -- I'm not going to store the entire 513GB DTC blockchain on my machine just so I can access my 200KB worth of "super secret" documents.

Firstly, if Datacoin starts to grow, there will be many-many services holding the whole blockchain. It's not a problem to add 500 GB of storage to dedicated server. So most of Datacoin users will store their coins online, but there will be still enough copies of blockchain - hundreds and thousands: pools, online wallets, exchanges, services...
Secondly, oocook5u wants to implement 'personal blockchains'. If he does it, this problem with 500 GB will disappear.

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Exocyst
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December 23, 2013, 03:01:32 PM
 #784

Datacoin would benefit from an electrum-style web wallet with client side security, and client file deposit/retrieval. Anyone currently working on the web wallet aspect?

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December 23, 2013, 03:13:16 PM
 #785

Datacoin would benefit from an electrum-style web wallet with client side security, and client file deposit/retrieval. Anyone currently working on the web wallet aspect?
We have crypte.net as simple web wallet, but of course we understand that electrum-style wallet can be better . So just now - no, but we  think about it, and if there are willing developers (or if they appear during our promotions after holidays), it will be cool.

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
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sfireman
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December 23, 2013, 04:24:34 PM
 #786

I have a few question
Is datacoin have some total limit of coins that can be produced? If no maybe we need it.

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maxsolnc
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December 23, 2013, 05:14:39 PM
 #787

I have a few question
Is datacoin have some total limit of coins that can be produced? If no maybe we need it.
2 billlion. With current diff (block reward depends on diff) this limit will be reached in 400 years, but really it will take much more time.
Also you can find more links and common info here:
https://bitcointalk.org/index.php?topic=358592.0

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
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December 23, 2013, 06:18:26 PM
 #788

I wrote a small article to introduce this coin to public
http://cryptoninja.blogspot.ru/2013/12/datacoin-new-word-in-data-store.html
Feel free to comment/discuss, maybe I was wrong in something

[ CENTRA ] Multi-Blockchain Worldwide Debit Card & Insured Wallet
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GreekBitcoin
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December 24, 2013, 07:18:09 AM
 #789

I wrote a small article to introduce this coin to public
http://cryptoninja.blogspot.ru/2013/12/datacoin-new-word-in-data-store.html
Feel free to comment/discuss, maybe I was wrong in something

Nice !
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December 24, 2013, 08:44:29 AM
 #790

A few more questions:
1. transaction max size is 128kb, right?
2. we can write up to 8 transaction in one block, right?
3. if transaction fee is 0.05DTC, then I pay 0.05DTC for up to 128kb of space. So I pay 0.4DTC for 1MB of space(8 transactions), correct?

[ CENTRA ] Multi-Blockchain Worldwide Debit Card & Insured Wallet
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maxsolnc
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December 24, 2013, 08:50:38 AM
 #791

A few more questions:
1. transaction max size is 128kb, right?
2. we can write up to 8 transaction in one block, right?
3. if transaction fee is 0.05DTC, then I pay 0.05DTC for up to 128kb of space. So I pay 0.4DTC for 1MB of space(8 transactions), correct?

1. correct
2. it' correct only if all transactions are 128 KB, unless you can write up to 1024 transactions (1kb min size)
3. no, you pay 0.05 DTC for each KB of transaction

DTC: DMcKNp47fNtgM7sritK9GfJEQ1DzME5nwk
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sfireman
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December 24, 2013, 09:32:33 AM
 #792

Published a small article about technical details I got from reading promo and this thread:
http://cryptoninja.blogspot.ru/2013/12/datacoin-technical-faq.html
Hope this will help someone to get key features of this project

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cryptrol
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December 24, 2013, 10:55:23 AM
 #793

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

Really ? Source ?

AFAIK the fees are hardcoded to 0.05 into Datacoin, you can easily change them to whatever you want using settxfee from the debug console or the rpc command but if you set them below 0.05 the transactions will not be accepted by the network (I have tried it).

The fees should get lower ASAP.

I am currently working in the envelope protocol described by oocooku I plan to deploy it soon on https://krypte.net
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December 24, 2013, 11:00:49 AM
 #794

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

Really ? Source ?

AFAIK the fees are hardcoded to 0.05 into Datacoin, you can easily change them to whatever you want using settxfee from the debug console or the rpc command but if you set them below 0.05 the transactions will not be accepted by the network (I have tried it).

The fees should get lower ASAP.

I am currently working in the envelope protocol described by oocooku I plan to deploy it soon on https://krypte.net

Although i dont have a problem with the fees i see that many people really want them lowered. So yes i am starting supporting this too. It seems people will embraced it much easier with less fees.

And i am really glad to see that devs are working! Unfortunately i cant help other than trying to tell the people about the coin, fix a bit the image of the coin etc.

Cant wait for more oocooku updates too!
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December 24, 2013, 11:06:22 AM
 #795

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

Really ? Source ?

AFAIK the fees are hardcoded to 0.05 into Datacoin, you can easily change them to whatever you want using settxfee from the debug console or the rpc command but if you set them below 0.05 the transactions will not be accepted by the network (I have tried it).

The fees should get lower ASAP.

I am currently working in the envelope protocol described by oocooku I plan to deploy it soon on https://krypte.net

Sorry cryptrol, I meant that this fee is 'not unchangable', not just 'hardcoded'. Of course, it is hardcoded in common sense, but AFAIK it can be changed without hardfork. Anyway we need to clarify that with oocook5u.

BTW: oocook5u is updating repository just now, so maybe he'll appear here soon. Maybe he will answer this question. And what is optimal fee in your opinion?

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cryptrol
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December 24, 2013, 11:10:56 AM
 #796

BTW: oocook5u is updating repository just now, so maybe he'll appear here soon. Maybe he will answer this question. And what is optimal fee in your opinion?

Thanks for pointing it out, it seems that now we have the getadata method for the HP version of the wallet.
No other change that I see ATM.

The best fee ? I really don't know ... 0.01 to start ?
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December 24, 2013, 11:37:39 AM
 #797


[/quote]

Do you know why did Sunny King disabled -paytxfee?
[/quote]

I would like to know why btw.
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December 25, 2013, 02:46:50 AM
 #798

Would it be possible to use datacoin as some sort of web host to serve html pages? If so, it could be the Internet's first hosting service with 100% (not 99.5%) uptime?

That would be useful.

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December 25, 2013, 02:57:09 AM
 #799

I also notice that it's a CPU-only coin. Does that tie in with the goals of the coin somehow, or is there no specific reason to it?

Are there any notable advantages/disadvantages worth considering as far as how CPU might influence the adoption and usage of datacoin?

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December 25, 2013, 03:20:00 AM
 #800

I also notice that it's a CPU-only coin. Does that tie in with the goals of the coin somehow, or is there no specific reason to it?

Are there any notable advantages/disadvantages worth considering as far as how CPU might influence the adoption and usage of datacoin?

If it was sha2 those that had paid for Asic miners for bitcoins would have killed it since after 1 month they would have mine much of it living nothing for late adopters.

The same goes for scrypt. Those with good expensive graphics cards would have mined most of it.

Only cpu coins like Datacoin, Primecoin and Protoshare (not quark, molecule because those can be now mined with GPUs too) are being mined more slowly and this is good for most adopters if time has passed. For example my i3 laptop now mines 0.3DTC per day. And i am using my laptop 10 hours a day at least.

The problems though for cpu coins are the botnets. Someone with a botnet can easily make its slaves mine for him cpu coins. And this is actually happening with all CPU coins. But pools can easily find botnets and ban them.
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