[ANNOUNCE] Ixcoin - a new Bitcoin fork

[indio007]

FOR SALE

96 ixcoins for .0001 BTC

[bittersweet]

So basically it's like Bitcoin, except with even more immensely rich early adopters (especially you)?
I don't see the point of this.

I would rather support a new blockchain with 0.5% / year initial distribution not 20% / year.

[AtlasONo]

So I generated my first 2 blocks less than a second apart.

Why do you say "16*6=96 IXC" when "96 IXC" would suffice¿?¿ 16*6 means nothing as far as i can tell

[markm]

FOR SALE

96 ixcoins for .0001 BTC

As the fees on .0001 BTC would be ridiculously high relative to the total purchase, can you offer instead 960000 IXC for 1.0 BTC, or accept some coin whose transaction fee on the purchase would be a lower percent of the total due to the coin in question being evaluated by you as lower in value than a bitcoin?

-MarkM-

[Nasakioto]

So I generated my first 2 blocks less than a second apart.

Why do you say "16*6=96 IXC" when "96 IXC" would suffice¿?¿ 16*6 means nothing as far as i can tell

16*6 is a reference to the X in Ixcoin, as in Hex/Hexadecimal/16.

[newminerr]

FOR SALE
96 ixcoins for .0001 BTC

Give me 1BTC worth of those.

[oOoOo]

There is another even more fundamental problem with this and I haven't seen it mentioned in this thread yet:

Bitcoin, at this point in time, urgently needs more of everything, developers, testers, vendors, exchanges and most importantly: users!
So you are here, to start a completely new chain, as competition to BTC, even though Bitcoin itself faces major difficulties and is still in infancy, thereby further diverting recourses from the already thinly stretched Bitcoin community, just to promote your potentially worthless chain? Did I get that right?

If yes, I am offering $1 USD for exactly half (≈250,000 if I got that right) ixcoins. PM me if interested.
.

[indio007]

FOR SALE

96 ixcoins for .0001 BTC

As the fees on .0001 BTC would be ridiculously high relative to the total purchase, can you offer instead 960000 IXC for 1.0 BTC, or accept some coin whose transaction fee on the purchase would be a lower percent of the total due to the coin in question being evaluated by you as lower in value than a bitcoin?

-MarkM-

I was meant as a joke .

[Nasakioto]

FOR SALE

96 ixcoins for .0001 BTC

Remember that 10,000 BTC Pizza?

[Littleshop]

This is ridiculous.

There are already 580,000 ixcoins in existence? And you expect people to start mining for you?

A major portion of the 580K IXC have been set aside to promote and develop Ixcoin. For instance, see the Bounties page.

Judging from the quickly increasing Ixcoin mining activity, it appears miners are taking on the challenge.
 

You have 580,000 coins already?  Holy early adopter! 

[boss cat]

just out of curiosity i pointed my cpu (8mhps) at ixcoin
its been running for about 30 mins now and no block found...whats wrong here?

[Nasakioto]

You seem to have added a get block RPC but apart from that your changes look pretty normal, except that you seem to have neglected to change the four-byte hello sequence that protects each variant from chatting pointlessly with some other variant when people start using patches that allow them to run on non-standard ports.

As long as people stick to the hardcoded networking port, fine. But as soon as some user of mainstream bitcoin hacks his bitcoind to use some weird port that happens to be the port Ixcoin normally uses, you will get told of thousands of nodes all of which will be happy to flood you the same way if your code too is willing to try connecting to a port other than its hardcoded normal port.

So I'd suggest maybe picking a hardcoded hello string for your main net and your test net and get them in use quick before there are so many nodes it is a bit late for such a change.

Good point. We were torn on that one. We didn't change the four-byte hello sequence in the end because we wanted to maximize compatibility with third party Bitcoin apps/websites and minimize adoption difficulty.

[AtlasONo]

People at 100x the speed you are are the problem

[enmaku]

http://www.eset.com/us/threat-center/encyclopedia/glossary/newheurpe

If you have any doubts as to whether the .exe is compromised, you are welcome to recompile from the source.

Not quite. I would have to INSPECT the source first, and then recompile it.

And you still haven't answered the question: What is the point of this block chain?

Done and done, sir. I can't speak to the purpose but I can speak to the code. A simple KDiff3 comparison of the original bitcoin source and the fork shows very few changes (aside from the obvious bitcoin->ixcoin in nearly every string in every file). The primary change is of course in main.cpp where nSubsidy has been set to 96 and the various necessary changes to the Genesis block have been made. Looks clean to me.

[LeFBI]

Whereas there are currently ~580K Ixcoins (as of 10th August 2011) in existence and it is expected that all 21 million Ixcoins will have been

You announce your project today with ~580K coins already in existence?

A major portion of the 580K IXC have been set aside to promote and develop Ixcoin. For instance, see the Bounties page.

Those bounties sum up to less than 200K. The rest is in your wallet.dat i guess.

Namecoin has at least a real purpose. But this? I don't know. Just because you can mine those coins faster doesn't mean anything. They will just be less worth. The next thing will be OMGcoin , all coins mined within a month.

[smoothie]

Okay your posting says to use port 8337 but your wiki says use port 8338. Which is it?

Also what is the name of the config file? ixcoin.conf? bitcoin.conf?

Your tutorials dont have proper documentation for anyone to start mining.

How do you expect people to help the project if you don't even have basic documentation?

[InstaGx]

just out of curiosity i pointed my cpu (8mhps) at ixcoin
its been running for about 30 mins now and no block found...whats wrong here?

I'd say it's too slow for single mining (and there are no pools yet for this fork...)
I'm currently mining with 210MH/s and about 50% are getting rejected. It doesn't matter if the difficulty is very low if a new block is found every second and your miner has to start over.

Definitely interesting to see the early block generation in action. I only did pool mining before. But I doubt anyone will use ixcoin. There will be a lot of uses for more forks of bitcoin but right now the first thought is a scam. The community is oversensitive to stuff like that at the moment.

[InstaGx]

Okay your posting says to use port 8337 but your wiki says use port 8338. Which is it?

Also what is the name of the config file? ixcoin.conf? bitcoin.conf?

Your tutorials dont have proper documentation for anyone to start mining.

How do you expect people to help the project if you don't even have basic documentation?

I'm pretty sure 8337 is for the p2p network and 8338 is for RPC to connect the miner with the daemon.
Also ixcoin.conf.

Edit: Sorry for apparent double posting. There was a post between my 2 responses that has been deleted already.

[foggyb]

Some big company will buy them all and use the currency for internal use. For instance a points or rewards program. Air Miles, maybe.

Like Tim Horton's or Starbucks.

[enmaku]

Done and done, sir. I can't speak to the purpose but I can speak to the code. A simple KDiff3 comparison of the original bitcoin source and the fork shows very few changes (aside from the obvious bitcoin->ixcoin in nearly every string in every file). The primary change is of course in main.cpp where nSubsidy has been set to 96 and the various necessary changes to the Genesis block have been made. Looks clean to me.

And that is why this is ridiculous. Anyone can change the number of coins per block and announce a new currency. So why? What is the point of creating this?

Well, you'd also have to make the tweaks to create a new genesis block, so at least that part is a bit more difficult than setting nSubsidy = 96.

As for the point, as I said I can't really speak to the purpose other than maybe as an experiment in varying rates of inflation/deflation. It's at least got my attention for its experimental value and I'm considering forking it again to make the ridiculously slow inflation variant I briefly mentioned before... As soon as I wrap my head around the genesis block code anyway

Also, my math now puts network speed over the 2 GH/s mark. Not a huge amount of interest, but considering this was posed a bit under 3 hours ago and one hour ago was a bit over 1 GH/s... I'm keeping my eye on this one. I still think Namecoin has more promise, since it also fulfills a non-monetary purpose, but I'm keeping my eye on this one.