[ANNOUNCE] Ixcoin - a new Bitcoin fork

[markm]

https://vircurex.com/orders?alt=ixc&base=btc&locale=en

-MarkM-

[snailbrain]

Good questions. I'd be interested to know the answers too.

However, doublec (bitparking) is far from being the only entity in possession of the patch, that Galactic Milieu sourceforge files download dir I pointed at is mine, the namecoin author wrote the merged mining support so also has some form of it, it is in all the merged mined coins so can be derived back out of any of them and everyone who has  them thus has it.

Bitcoin blocks mined while merged-mining secondary chains contain the chain identifiers of the chains merged, so anyone who knows a particular block was mined by a particular pool can check which chains the pool was merged-mining at the time.

(Tricky part conceivably being to identify whether any particular block was mined by a pool and if so which pool, if the pool didn't want anyone to figure out that pool mined it or if a miner or pool chose to "counterfeit" the stigmata by which a block's miner sometimes chooses to identify itself.)

-MarkM-

thanks.. i think we need to delve deeper into this rabbit hole

every pool should be merge mining.. i'm guessing all the pro's are.. but the noob pools are not.. seems a little bit like "secretly stealing money" if they aren't declaring it?

by looking at the hash rates

Network
GH/sec
Bitcoin   84,150.3997
Devcoin   1,638.3046
Freicoin   2,337.9647
Feathercoi   0.5389
Ixcoin   1,434.6362
Litecoin   19.1917
Namecoin   18,248.9634
Ppcoin   2,894.8738
Terracoin   489.3262

i assume that the hash rate in merged mining would be the same (sorry if i'm wrong, just seems logical)..

example... if i merged mine bitcoin and namecoins at 1.5ghash, they both get 1.5ghash..
so.. atm.. bitparking is mining at 1180.66ghash... this is over 50% of the namecoin pool.. BUT.. it says ixcoin is only getting 1.5ghash.. so it can't be merge mined on bitparking?

please correct me.. as i must be wrong, as this does not add up

I made a mistake... 1180ghash is not 51%+ of 18248ghash.. i just bought my nmc back at a loss.. hate this game lol.. but the ixc (if bitparking are mining it) has 80% at a guess

[snailbrain]

Good questions. I'd be interested to know the answers too.

However, doublec (bitparking) is far from being the only entity in possession of the patch, that Galactic Milieu sourceforge files download dir I pointed at is mine, the namecoin author wrote the merged mining support so also has some form of it, it is in all the merged mined coins so can be derived back out of any of them and everyone who has  them thus has it.

Bitcoin blocks mined while merged-mining secondary chains contain the chain identifiers of the chains merged, so anyone who knows a particular block was mined by a particular pool can check which chains the pool was merged-mining at the time.

(Tricky part conceivably being to identify whether any particular block was mined by a pool and if so which pool, if the pool didn't want anyone to figure out that pool mined it or if a miner or pool chose to "counterfeit" the stigmata by which a block's miner sometimes chooses to identify itself.)

-MarkM-

thanks.. i think we need to delve deeper into this rabbit hole

every pool should be merge mining.. i'm guessing all the pro's are.. but the noob pools are not.. seems a little bit like "secretly stealing money" if they aren't declaring it?

by looking at the hash rates

Network
GH/sec
Bitcoin   84,150.3997
Devcoin   1,638.3046
Freicoin   2,337.9647
Feathercoi   0.5389
Ixcoin   1,434.6362
Litecoin   19.1917
Namecoin   18,248.9634
Ppcoin   2,894.8738
Terracoin   489.3262

i assume that the hash rate in merged mining would be the same (sorry if i'm wrong, just seems logical)..

example... if i merged mine bitcoin and namecoins at 1.5ghash, they both get 1.5ghash..
so.. atm.. bitparking is mining at 1180.66ghash... this is over 50% of the namecoin pool.. BUT.. it says ixcoin is only getting 1.5ghash.. so it can't be merge mined on bitparking?

please correct me.. as i must be wrong, as this does not add up

I made a mistake... 1180ghash is not 51%+ of 18248ghash.. i just bought my nmc back at a loss.. hate this game lol.. but the ixc (if bitparking are mining it) has 80% at a guess

would be interesting to know how this works...

BTCGuild has say 30-40% of the bitcoin network.. 30k gh/s.. this is more than the 18gh/s on the namecoin pool... so either

1. The Hash Rate for merge mining is not the same with 2 different chains (logically you would think they would be if the same algorithm?).
2. BTCGuild stopped merged mining because of the very reason of having more than 51% hashing power on the chain??.. because, why would you not merge mine if you could....

google search shows they did do merge mining.. but it no longer mentions it from what i can see on the pools site.

sorry to keep going on about this. i need to get to the bottom of it as i was about to start a project! :d

[bitpop]

Lol you're more impulsive than I am

[jackjack]

Interested in the answers as well

[Tomatocage]

Ixcoin should be trading up near .002 BTC per coin, just like all the other generic alts.

[kjj]

BTCGuild did merged mining on the old getwork servers.  His implementation of stratum does not do merged mining, and I think he is busy enough with other things that he isn't going to bother adding in something that apparently very few of his users care about.

[snailbrain]

Ixcoin should be trading up near .002 BTC per coin, just like all the other generic alts.

maybe when we get some answers

edit: why wouldn't anyone merge mine namecoins.. the only coin that actually does something.. edit.. but then, would they have more than 50% of the network.. and does it work like that with merge mining

[twobits]

I am going to update the mac port.

However, I noticed all the seed nodes built seem to be bad, and with lfnet being flakey it is hard to bootstrap.

Anyone have any seed nodes they run they can give me the ip to to plug in before I upload?

[markm]

Not to build in, no, as my only nodes so far are really mainly for bitcoin and devcoin.

People will just have to wait for lfnet to come back up if they find it down, for now, pr get a -addnode to add temporarily just the once to get them initially running.

I am heading toward getting more infrastructure set up but unfortunately it is taking time. The fact the CAvirtex has seemingly stopped doing withdrawals isn't helping either.

What you could do though is plug in hostnames that hopefully one day WILL point at nodes.

So maybe plug in ixcstable01 through ixcstable05 on knotwork.com, or something like that?

Then those hostnames can be populated with IP addresses once nodes are set up.

-MarkM-

[twobits]

All right, well this at leasts gets a Mac OSX version out that has mm support.

https://www.box.com/s/vm9qkjchjok3vbhatt6m

[Vlad2Vlad]

Anybody know how much iXcoin was selling for in the past?  On top of buying more devcoins I bought 22,000 iXcoins and I have an order in for 18,000 more and I paid $.01.  I remember 3 days ago the bid was $.03 so for some reason it dropped quite a bit.

It's more of a gamble at this point, a supply/demand play, based on the fact the supply is so limited.  Although the coin itself has been abandoned it's still "in-play", it's still live as anyone can still buy it and trade it. And if my feeling is correct and soon or eventually many more people will be using ASICS to mine (I already ordered 2 rigs from Butterfly Labs) and with only 21 million coins it would take much at all to cause the price to really spike.

[MaddestScientist]

I don't have an exact figure, but it was definitely MUCH higher before.

Ixcoins are merge-mined with Bitcoins, just like Devcoin and Namecoin, so while it's abandoned it still has over 2TH/s. That said, I don't think anyone will be using ASIC to only mine Ixcoins.

With the current low price, one can buy about 10k IXC for one BTC. In the worst case, he'll lose 1 BTC, but on the upside the gain could be enormous. 

I think the single, most effective way to "revive" the coin is to have more exchanges adopting it. 

Anybody know how much iXcoin was selling for in the past?  On top of buying more devcoins I bought 22,000 iXcoins and I have an order in for 18,000 more and I paid $.01.  I remember 3 days ago the bid was $.03 so for some reason it dropped quite a bit.

It's more of a gamble at this point, a supply/demand play, based on the fact the supply is so limited.  Although the coin itself has been abandoned it's still "in-play", it's still live as anyone can still buy it and trade it. And if my feeling is correct and soon or eventually many more people will be using ASICS to mine (I already ordered 2 rigs from Butterfly Labs) and with only 21 million coins it would take much at all to cause the price to really spike.

[Vlad2Vlad]

Can anyone who has been here a while explain this to me?  In stocks there's value based on fundamentals. But since these coins have no business plans and no revenues there's no way to value them so you go off how rare they are, supply and demand model.

Ok then.

So how is feather coin worth $.10, 10 times what ixcoin is selling for, while at thre same time having nearly 15 times as many coins - 380 million to Ixcoin's max 21 million.

So why isn't ixcoin trading at parity with feathercoin which would put it at $1.50? This makes no sense.

Am I missing something here or is this a huge opportunity to buy more IXcoin. I'm now up to 41,000 iXcoin.  I paid about $420 for them.  Roughly 2.5 bitcoins and I see it as less risky since bitcoin's value is enormous given it has no real value, no real business plan and no future earnings.  You'd have to be nuts to buy bitcoin at $120 for any reason other than a short term trade or to buy other coins with it.

[bitpop]

You answered your own question. To buy other coins. Nite what coin you choose is personal. Maybe ixcoin was egg first someone came across, etc.

[relm9]

Can anyone who has been here a while explain this to me?  In stocks there's value based on fundamentals. But since these coins have no business plans and no revenues there's no way to value them so you go off how rare they are, supply and demand model.

Ok then.

So how is feather coin worth $.10, 10 times what ixcoin is selling for, while at thre same time having nearly 15 times as many coins - 380 million to Ixcoin's max 21 million.

So why isn't ixcoin trading at parity with feathercoin which would put it at $1.50? This makes no sense.

Am I missing something here or is this a huge opportunity to buy more IXcoin. I'm now up to 41,000 iXcoin.  I paid about $420 for them.  Roughly 2.5 bitcoins and I see it as less risky since bitcoin's value is enormous given it has no real value, no real business plan and no future earnings.  You'd have to be nuts to buy bitcoin at $120 for any reason other than a short term trade or to buy other coins with it.

IXcoin is dead - why would the value go up? There's no future prospects for it. Amount of coins means relatively little, it is the current demand that determines price.

And Bitcoin has no real value? I don't know where to begin. There's been plenty of infrastructure built around Bitcoin in the past year, future prospects are looking good...

[bitpop]

You also forget, coins like nmc ixc will never die because they are merged mined. I mine btc, nmc and ixc all the same time.

[Vlad2Vlad]

You also forget, coins like nmc ixc will never die because they are merged mined. I mine btc, nmc and ixc all the same time.

How do you do that.   I'm hoping to get my butterfly asic miners will I be able to merge mine with those units?  I mean they say they're only made to mine bitcoin but that would be a blow I want to mine especially NMC, DVC and IXC.  I really hope there's an easy interface to bulk mine all of these with an ASIC machine cause GPU's don't do jack.  TIA

But I agree, IXcoin is out of favor, not dead.  It's being merge mined and it will find a new following soon given the low number of coins.  and yes that matter cause once interest picks up there only going to be a very limited number of coins and just right now their fair value compared to Bitcoin and many other alt currencies is at leat $1.50.  That's a huge 150 fold, 15,000% spike in Apreciation and it could happen in under 30 days like it did with Namecoin.  I just hope these asic machines can be hacked to be able to merge mine, at least.   TIA

[bitpop]

Yes setup your own p2pool, using mine would give me the extra merged mining. Or there's a pool with btc, nmc, ixc and dvc

YEs gpu, fpga and asic can all do it.

[Vlad2Vlad]

Yes setup your own p2pool, using mine would give me the extra merged mining. Or there's a pool with btc, nmc, ixc and dvc

YEs gpu, fpga and asic can all do it.

That's great.  I'm now signed with give-me-ltc.  But I don't think you can merge mine there.  What's the easiest one to use (merge miner).  I'm not very computer literate.  I hope to get my ASIC miners from butterfly by July, that's what they promised but I'm not holding my breath.  I just ordered my 3rd one, 5Gh miner.  I heard you can over clock it to 10GH but that might take a while to so cause I wouldn't wanna try to so it myself.  But for now I'd be happy worth just 2 if not 3 5GH butterfly rigs. Once these rigs hit the market the difficulty is gonna double or triple overnight but the price of bitcoin should also increase.

Can I ask, what rig are you using and what all coins are you getting per month.  TIA