[ANN][ICN] iCoin - On Swisscex, C-Cex, Bittrex exchange

[KenChanYu]

It's slow because domain transfer process requires 5 days for transfering geticoin.com to my account. Website is up now (old version as the new one i received from Cointopic is incompleted, not usable).
Next update is done too. Just one more thing is the new setting:

Current setting:
Algo: Scrypt
Total coins: 500 million
Premine: 1%
Block reward: 100 iCoin
Block time: 3 minutes
Reward halving interval: 128,000 blocks

Proposed setting:
Algo: X11
Total coins: 250 million
Premine: 0%
Block reward: 25 iCoin
Block time: 3 minutes
Reward halving interval: 64,000 blocks

Any sugguestions?

The dev seems slow with updates, if this is what the iCoin team had to deal with no wonder they left. I have a feeling that the anonymous Captainhook has run away with the btc for the IPO and working on his other coins.

iCoin most likely needs a coin take over but who would touch it now?

Shut your mouth up than just typing behind monitor and helpless.

There will be no new update until this a**h*** get out of this thread.

I am out, this will be my last post in here. Goodluck to the iCoin community.

Don't let me be the reason you not doing updates for one of your coins.

bibi

[alan_a1]

After running a dedicated pool for half a year... decided to stop since the pool fees/donations don't cover the costs I'm making.
Therefore, please withdraw any coins you have left on our pool by the end of May 19th or these will be lost.

Or if anyone 's interested in taking over for a small donation in BTC, please send me a PM on bitcointalk.

Thanks for all who mined with us!

What about my 100k coins that you are holding? Is this your exit strategy now? Speedminer send me the coins I've earned with mining @ ur pool, they're worthless anyway be smart and do the right thing.

[sinpey]

It's slow because domain transfer process requires 5 days for transfering geticoin.com to my account. Website is up now (old version as the new one i received from Cointopic is incompleted, not usable).
Next update is done too. Just one more thing is the new setting:

Current setting:
Algo: Scrypt
Total coins: 500 million
Premine: 1%
Block reward: 100 iCoin
Block time: 3 minutes
Reward halving interval: 128,000 blocks

Proposed setting:
Algo: X11
Total coins: 250 million
Premine: 0%
Block reward: 25 iCoin
Block time: 3 minutes
Reward halving interval: 64,000 blocks

Any sugguestions?

The dev seems slow with updates, if this is what the iCoin team had to deal with no wonder they left. I have a feeling that the anonymous Captainhook has run away with the btc for the IPO and working on his other coins.

iCoin most likely needs a coin take over but who would touch it now?

Shut your mouth up than just typing behind monitor and helpless.

There will be no new update until this a**h*** get out of this thread.

Hey CH,

I think there are a few factors to consider for the new coin release schedule:

1) Mining period- How long will x11 be ASIC resistant? 2ish years? Do we want to be able to mine icoin for 2, 5, 10, 20, or 50+ years?
2) Total number of coins- Depending on your mining period, this may vary. The suggested 250,000,000 ICN seems way too large considering the suggested block rewards and halving times. It would take hundreds of years to mine the total amount, and given the rapid rate of technology advancement, any algorithm would be obsolete.
3) Block Times- Faster transaction times would definitely provide more real world use. If you change reward times down to 1 or 2 minutes, you could just modify the block rewards so that the rate of coins being mined is the same, but confirmations are hastened.
4) Block rewards- I do agree we need a bottleneck in new coins entering the market, but is a 100 to a 25 ICN reward too drastic of a decrease? Would it kill mining all together? With such low trade volume, a 50 ICN block reward transition may ease the transition.
5) Block reward halving times- who said block reward halving times had to be constant. Why couldn't the halving times double as your rewards halved?

*Calculations are made assuming there are currently 11620850 ICN in circulation

Current suggested release schedule:

blocks   reward   time (years)   total coins
64000   25   0.365296804   13220850
64000   12.5   0.730593607   14020850
64000   6.25   1.095890411   14420850
64000   3.125   1.461187215   14620850
64000   1.5625   1.826484018   14720850
64000   0.78125   2.191780822   14770850
64000   0.390625   2.557077626   14795850
64000   0.1953125   2.922374429   14808350
64000   0.09765625   3.287671233   14814600
64000   0.048828125   3.652968037   14817725
64000   0.024414063   4.01826484   14819287.5
64000   0.012207031   4.383561644   14820068.75
64000   0.006103516   4.748858447   14820459.38
64000   0.003051758   5.114155251   14820654.69
64000   0.001525879   5.479452055   14820752.34
64000   0.000762939   5.844748858   14820801.17
64000   0.00038147   6.210045662   14820825.59
64000   0.000190735   6.575342466   14820837.79
64000   9.53674E-05   6.940639269   14820843.9
64000   4.76837E-05   7.305936073   14820846.95
64000   2.38419E-05   7.671232877   14820848.47
64000   1.19209E-05   8.03652968   14820849.24
64000   5.96046E-06   8.401826484   14820849.62
64000   2.98023E-06   8.767123288   14820849.81
64000   1.49012E-06   9.132420091   14820849.9
64000   7.45058E-07   9.497716895   14820849.95
64000   3.72529E-07   9.863013699   14820849.98
64000   1.86265E-07   10.2283105   14820849.99
64000   9.31323E-08   10.59360731   14820849.99
64000   4.65661E-08   10.95890411   14820850
64000   2.32831E-08   11.32420091   14820850



Current release schedule with previous "3 ICN Reward minimum":

blocks   reward   time (years)   total coins
64000   25   0.365296804   13220850
64000   12.5   0.730593607   14020850
64000   6.25   1.095890411   14420850
64000   3.125   1.461187215   14620850
64000   3.125   1.826484018   14820850
64000   3.125   2.191780822   15020850
64000   3.125   2.557077626   15220850
64000   3.125   2.922374429   15420850
64000   3.125   3.287671233   15620850
64000   3.125   3.652968037   15820850
64000   3.125   4.01826484   16020850
64000   3.125   4.383561644   16220850
64000   3.125   4.748858447   16420850
64000   3.125   5.114155251   16620850
64000   3.125   5.479452055   16820850
64000   3.125   5.844748858   17020850
64000   3.125   6.210045662   17220850
64000   3.125   6.575342466   17420850
64000   3.125   6.940639269   17620850
64000   3.125   7.305936073   17820850
64000   3.125   7.671232877   18020850
64000   3.125   8.03652968   18220850
64000   3.125   8.401826484   18420850
64000   3.125   8.767123288   18620850
64000   3.125   9.132420091   18820850
64000   3.125   9.497716895   19020850
64000   3.125   9.863013699   19220850
64000   3.125   10.2283105   19420850
64000   3.125   10.59360731   19620850
64000   3.125   10.95890411   19820850
64000   3.125   11.32420091   20020850


Here are my suggestions:

1) <20 year mining period (Instead of straight mining over the 20 year period, if PoS can eventually be added to add the remaining coins into circulation after x11 becomes obsolete in the next 2-3 years)
2) 42,000,000 total coins (250,000,000 coins is not achievable during any of our lifetimes given the current rewards / halving times. Just cut out all the fluff and tell people how many coins are going to be in circulation while they're alive.
3) 1 minute block times (Fast transaction times are a necessity if real world adoption is ever going to take place.)
4) Start with a 50 ICN block reward and decrease from there. (A drop from 100 to 25 seems like to quick of a drop that could harm mining rather than increase the value of the coin)
5) Have variable block reward halving times for more sustainable future mining.


blocks   reward   time (years)   total coins
128000   50   0.243531202   18020850
256000   25   1.704718417   24420850
512000   12.5   4.627092846   30820850
1024000   6.25   10.4718417   37220850
1529328   3.125   19.2008828   42000000

Hi,
Your suggestion are interesting
When changing parameters of iCoin - what will happen to mined coins?

[xenomorph113]

After running a dedicated pool for half a year... decided to stop since the pool fees/donations don't cover the costs I'm making.
Therefore, please withdraw any coins you have left on our pool by the end of May 19th or these will be lost.

Or if anyone 's interested in taking over for a small donation in BTC, please send me a PM on bitcointalk.

Thanks for all who mined with us!

@speedminer sad to see you're shutting down, you were my favourite iCoin pool

best of luck to you in your future endeavours

[illodin]

I am out

Do you have any coins to sell? If so, PM me please.

[captainhook]

Hi,
Your suggestion are interesting
When changing parameters of iCoin - what will happen to mined coins?

This setting for future mining, mined coins are not effected.

[niothor]

Last two messages of people quitting don't really bring to much hope in .

[LordPiccolo]

Last two messages of people quitting don't really bring to much hope in .

Lets hope the update changes things, I tried to give away some iCoin last night and there were no takers.

Have to wait and see what happens and if captainhook can rally the community.

[nfigueir]

Is it possible to add a variable reward system based on the network hashrate? Similar to the difficulty, the reward could be larger (starting at 50 coins and going all the way to 100 coins) is the network hashrate is bigger then a given value..

e.g.

0-10MHs => 50 coins per block
10-20MHs => 55 coins per block
...
>100MHs => 100 coins


This way miners would likely try attract more miners in order to try to maximize their gains...

[LordPiccolo]

Is it possible to add a variable reward system based on the network hashrate? Similar to the difficulty, the reward could be larger (starting at 50 coins and going all the way to 100 coins) is the network hashrate is bigger then a given value..

e.g.

0-10MHs => 50 coins per block
10-20MHs => 55 coins per block
...
>100MHs => 100 coins


This way miners would likely try attract more miners in order to try to maximize their gains...

very good idea

[niothor]

Is it possible to add a variable reward system based on the network hashrate? Similar to the difficulty, the reward could be larger (starting at 50 coins and going all the way to 100 coins) is the network hashrate is bigger then a given value..

e.g.

0-10MHs => 50 coins per block
10-20MHs => 55 coins per block
...
>100MHs => 100 coins


This way miners would likely try attract more miners in order to try to maximize their gains...

Please enlighten me how will you do this , and apply it. Without messing up the coin for real.

[LordPiccolo]

Is it possible to add a variable reward system based on the network hashrate? Similar to the difficulty, the reward could be larger (starting at 50 coins and going all the way to 100 coins) is the network hashrate is bigger then a given value..

e.g.

0-10MHs => 50 coins per block
10-20MHs => 55 coins per block
...
>100MHs => 100 coins


This way miners would likely try attract more miners in order to try to maximize their gains...

Please enlighten me how will you do this , and apply it. Without messing up the coin for real.

I know nothing about coding but from a miners perspective it seems like its a good idea

[nfigueir]

Is it possible to add a variable reward system based on the network hashrate? Similar to the difficulty, the reward could be larger (starting at 50 coins and going all the way to 100 coins) is the network hashrate is bigger then a given value..

e.g.

0-10MHs => 50 coins per block
10-20MHs => 55 coins per block
...
>100MHs => 100 coins


This way miners would likely try attract more miners in order to try to maximize their gains...

Please enlighten me how will you do this , and apply it. Without messing up the coin for real.

are you asking conceptually speaking or programatically?

[CryptoGuy]

Is it possible to add a variable reward system based on the network hashrate? Similar to the difficulty, the reward could be larger (starting at 50 coins and going all the way to 100 coins) is the network hashrate is bigger then a given value..

e.g.

0-10MHs => 50 coins per block
10-20MHs => 55 coins per block
...
>100MHs => 100 coins


This way miners would likely try attract more miners in order to try to maximize their gains...

Please enlighten me how will you do this , and apply it. Without messing up the coin for real.

are you asking conceptually speaking or programatically?

Darkcoin has a reward scheme just the opposite. The higher the difficulty becomes the reward is lowered down to a minimum of 5. I'd imagine you could look at the code for that to get an idea how something like that works.

[luckygenough56]

Regular block halving is nice also to keep price up. Coins with no block halving for a long period tend to be dumped forever.

A personnalized innovative wallet like silkcoin is attractive also

[buttonmc]

I don't know if this is even possible to do, but is there a way to implement 'merged' mining using x11 and the darkcoin blockchain?

Parallex and Monocle have been able to do this for n-scrypt... merged mining with a more efficient code like x11 would be very popular and provide a very stable network.

[minecrew]

I have just realised that this coin is full shit! 

You know, I've been watching, what's happened with all these crypto-shit-coins, and iCoin was one of them... These people created classic shit-coin. With premine and nothingnew.

You can say that name of the coin matters...  LOL

Only whales that invest in coins matters. Nothing more. If someone will invest 10 BTC or more in this coin and will simulate 100 BTC day trade volume, everybody will notice this coin. And price will grow up.

But in current state this coin is worst shit. I said the truth about this coin.

[Bluestreet]

At one stage I was VERY serious about taking over iCoin but now it looks to be a lost cause, it's become clear what was keeping this coin alive aslong as it was and that was the efforts of the iCoin team. I am also sad this coin did not make it, however if it makes anyone feel any better 90% of the coins have less use then iCoin, at least it's still on coinpayments.

[F2C]

Captinhook , would you please give us some updates 

[Gaoweida]

how is it going??