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

[maxsolnc]

What happens when something really dangerous is stored in the blockchain and lets say the Goverments want it out?

Is it possible to just ban Datacoin? Will people need to use tor? How easy is to stop Datacoin?

Answers are the same as for Bitcoin. If governments want, they can ban everything. But it is possible to organize getting\storing info from\to Datacoin if there is at least one country where it is not banned. Simple service working via I2P\Tor that has simple API for getting\storing data, that's it.

What is the community though about stuff like plastic gun blueprints, copyrighted stuff like movies and CP?

What i want to understand is what stops someone from trolling the whole coin by posting CP everywhere?

I answered this question many times. But now I have another argument. Do you use Bitcoin? Look here: http://www.btcpedia.com/ped0-links-in-bitcoin-blockchain/
so 2.5 Mb of Wikileaks can be only one piece. Are you sure that there are no 2.5Mb pictures or even short video with CP in Bitcoin?
It didn't stop anyone from using Bitcoin, and for Datacoin it should be the same.

i am asking because i am interested. i didnt know that about bitcoin. Interesting. But a new question came to my mind with your answer. If bitcoin can also do this why do we need datacoin? In what aspect it is better for storing data?

bitcoin is not designed for data storage, it needs a lot of non-trivial operations to store data in BTC blockchain. It's like - you can write web server using Assembler, but nobody does it, or creates very simple app just as proof-of-concept

yes, but someone created the python3 script for uploading+downloading data so its easy to upload/download to the btc chain. (wrt multisig)

People always complain about Bitcoin blockchain size. BTC was not designed for that, and it's not intended to be storage and currency for this storage. I think that it's not expedient - using Bitcoin as something that it was not created for.

[Snard]

yes, but someone created the python3 script for uploading+downloading data so its easy to upload/download to the btc chain. (wrt multisig)

Do you have a link to these scripts?

[K1773R]

yes, but someone created the python3 script for uploading+downloading data so its easy to upload/download to the btc chain. (wrt multisig)

Do you have a link to these scripts?

its imbedded in the coinbase of btc blocks, so far i havent seen it uploaded to pastebin/similiar or btctalk. everyone who talked about it and worked with it, extracted it the same way and ppl who are unable to do this shouldnt have access to it anyway. this seems harsh but its better that way.

[Snard]

its imbedded in the coinbase of btc blocks, so far i havent seen it uploaded to pastebin/similiar or btctalk. everyone who talked about it and worked with it, extracted it the same way and ppl who are unable to do this shouldnt have access to it anyway. this seems harsh but its better that way.

Extracting the messages are easy. Was more curious if there was a limitation on the str size that you could embed in the message. These messages can be inserted via multiple methods and not only coinbase.  It appears that there is no limit in data size with some of the methods.

It also appears that future versions of bitcoin will contain some limited messaging capabilities as part of a transaction.

Regardless, the methods used are more like hacks rather than the intended design of the coin. Therefore, I still see value in what datacoin represents.

[K1773R]

its imbedded in the coinbase of btc blocks, so far i havent seen it uploaded to pastebin/similiar or btctalk. everyone who talked about it and worked with it, extracted it the same way and ppl who are unable to do this shouldnt have access to it anyway. this seems harsh but its better that way.

Extracting the messages are easy. Was more curious if there was a limitation on the str size that you could embed in the message. These messages can be inserted via multiple methods and not only coinbase.  It appears that there is no limit in data size with some of the methods.

It also appears that future versions of bitcoin will contain some limited messaging capabilities as part of a transaction.

Regardless, the methods used are more like hacks rather than the intended design of the coin. Therefore, I still see value in what datacoin represents.

the script we were talking about embeds data by abusing multisig. there is only one limitation (virtually), your amount of btc you wanna spend

[Snard]

the script we were talking about embeds data by abusing multisig. there is only one limitation (virtually), your amount of btc you wanna spend

Ahh..looks like there are quite a few ways to do this.

[hamiltino]

Whats the maximum number of Datacoins generated?

[maxsolnc]

Whats the maximum number of Datacoins generated?

2 billions. But now reward is ~10 DTC, so near 15K DTC per day, and this number goes down all the time. So if we take average as 10K DTC per day, only 3.65 millions DTC will be generated per year. So you can see that it will take centuries to mine'em all
BTW there are plans to reduce total number of DTC, but they are still plans.

[hamiltino]

ahh good to know datacoins still has alot of potential to increase in value.

[maxsolnc]

ahh good to know datacoins still has alot of potential to increase in value.

Yes, it was near .001 BTC even without applications and promotion. And now I saw several jumps to .0015 and big buys on bter, so I'm sure that it can go up. Don't know exactly, but with promotion it can rise to .005+ very easy and fast.

[Sharky444]

Compared to mining difficulty the price is still way too low at 0.001 BTC, so I'm holding to all my 500 DTC until it reaches at least 0.01 BTC. With Quark type promotion it could go to 0.01 in a week. I don't know how many big (10000+ coins) stakeholder there are, but if one of them made a thread where everyone would get 100-300 DTC for accepting DTC as payment on their websites it would be a huge step forward. (see the QRK promotion thread here: https://bitcointalk.org/index.php?topic=325257.0)

[maxsolnc]

Compared to mining difficulty the price is still way too low at 0.001 BTC, so I'm holding to all my 500 DTC until it reaches at least 0.01 BTC. With Quark type promotion it could go to 0.01 in a week. I don't know how many big (10000+ coins) stakeholder there are, but if one of them made a thread where everyone would get 100-300 DTC for accepting DTC as payment on their websites it would be a huge step forward. (see the QRK promotion thread here: https://bitcointalk.org/index.php?topic=325257.0;topicseen)

Yes, Quark is being promoted by famous economists. There is one very experienced member (finance, investment banking, consulting, he worked in top economical companies) in Datacoin team. I don't want to mention his name just now, it will be revealed soon. He is creating financial analysis and some kind of investment memorandum as offer to investors. I'm sure that Datacoin with its great idea will find its investors and continue to grow.

[mstfck]

Yes, DTC Team now also has an economist. Good news on its way

[Snard]

Do we have any updates on the developer on the pool issue? What exactly is broken that is causing the problem?

Personally, I think this is one of the biggest issues with the coin is that its way to difficult to mine and there is no pool. People therefore lose interest.

[Sharky444]

I think nothing is broken. Just nobody has opened a pool yet.

[Snard]

If I remember there was something broken in the code, which was causing the issue.

[Sharky444]

That was fixed a week ago and the client updated.

[cryptrol]

I think nothing is broken. Just nobody has opened a pool yet.

XPM pool source code is a well kept secret it seems. Pools are making a killing with the fees, so nobody wants to share it's pool code (which is bad for primecoin and also for datacoin).

[Sharky444]

Since the coins are still based on the Bitcoin API you can use the open source pool software that is used for 90% of all pools.

[cryptrol]

Since the coins are still based on the Bitcoin API you can use the open source pool software that is used for 90% of all pools.

Really ? I thought you needed to do some custom coding for the different proof of work of primecoin ....
Are you sure is that 'easy' ? Because I have a server and a little of time this weekend.