[ANN][Datacoin] Datacoin blockchain start announcement (Minor code upd + logo)

[MessyCoin]

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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[Snard]

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]

how many DTC exist right now? anyone know?

[simbo]

Anyone mining it???

[super3]

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.

[extro24]

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

[Snard]

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?

[maxsolnc]

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 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

[maxsolnc]

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

[maxsolnc]

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.

[tubbyjr]

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!

[maxsolnc]

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.

[extro24]

@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.

[maxsolnc]

@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 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.

[Awe]

Anyone selling? Ready to buy 50K DTC for 0.02BTC.

[maxsolnc]

Anyone selling? Ready to buy 50K DTC for 0.02BTC.

lol, I think no one has such amount...total 450K generated still, and generation speed is decreasing, leading to ~20-25K per day. maybe you made a mistake and wanted to offer 0.02 BTC for 50 DTC?

[goldbishop]

Anyone selling? Ready to buy 50K DTC for 0.02BTC.

lol 50.000 for 0.02?
0.0000004 Each?

[bidji29]

Anyone selling? Ready to buy 50K DTC for 0.02BTC.

Please make realistic offer.
This would make the total marketcap of DTC at 100$

[Praxis]

Something is not right ... One block I found is "immature" for 10 hours and has only 1 confirmation ... Another one was already OK and then turned to "immature" again ( has 1000 confirmations! )

[maxsolnc]

Something is not right ... One block I found is "immature" for 10 hours and has only 1 confirmation ... Another one was already OK and then turned to "immature" again ( has 1000 confirmations! )

sometimes orphans are showed in such a way, so you need to restart wallet. i think it is because of adopting network: hashpower is fluctuating, and such issues were faced on early stage of many coins. Datacoin needs more hashpower and more stability