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Author Topic: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!  (Read 934420 times)
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bumface
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January 13, 2014, 06:59:59 PM
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THREAD MOVED

-----------------------------------------------------------------------------------------------------------------------------------------------------







NEW ULTRACOIN 2.0 BITCOINTALK FORUM



Dear UTC Community Members,

We as management team wish everybody will migrate to www.UltracoinTalk.org  because this is for the future the best for an professional coin like UTC. Steven did already gave an good explanation before way it is good for UTC.
But we also want to give our community members more possibility’s so they can choose where they want to post messages and have discussions about Ultracoin or where they can help each other with mining issues and many many more …..


So this is why we opened just now also the new Ultracoin 2.0 BitcoinTalk Forum at  

https://bitcointalk.org/index.php?topic=727023.msg8217541#msg8217541



-----------------------------------------------------------------------------------------------------------------------------------------------------



Website  |  Twitter  |  Facebook  |  Reddit  |  Official Forum



MANDATORY WALLET UPDATE V.1.0.4.1 AVAILABLE






Ultracoin is a hybrid proof-of-work / proof-of-stake coin, whereby active nodes are involved in the mining of blocks if they hold Ultracoin.
With Ultracoin you can send and receive currency worldwide to friends, family or business partners.
You may even exchange it for other currencies or simply use it to buy goods.
Miners are currently awarded with 15 new Ultracoins per block, an amount which gets halved roughly every 990.000 blocks.
The Ultracoin network is therefore scheduled to produce 100 million Ultracoins, which is almost 4.5 times as many currency units as Bitcoin.

Ultracoin can be mined with both CPU's and GPU's.
Furthermore, with an ASIC resistant Scrypt ChaCha base, you can feel at ease.
This will ensure that you won't be surprised by new hardware technologies.
UTC is a hybrid proof-of-work/proof-of-stake coin, whereby active nodes are involved in the mining of blocks if they hold UTC.

  • Total coins: 100,000,000
  • Premine: 2% (1.6% IPO / 0.3% DEV / 0.1% REWARDS)
  • Block time target: 30 seconds
  • Block reward: 15, halving every 990,000 blocks
  • Difficulty retarget:max 200% per 30mins
  • Mined block confirmation: 50
  • Transaction confirmation: 5
  • NFactor Integration
  • Port: 44100
  • Rpc port: 44101

Please Note: This thread is self moderated. Trolling and baseless accusations will be removed without consent. Please mind your manners and report incidences of malice accordingly. Thank you and enjoy!



                  



  • As N-factor increases over time, hashrates will become more dependent on memory resources.  So settings in your .bat and .conf files like thread-concurrency and gpu mem clock as well as total system memory will become more important.  Also, for most people, lowering intensity has been required after N-factor increases to avoid HW errors.
  • Current Nfactor Configs: NFactor Configs for the May 24th Change are being Optimized as we Speak. Stay Tuned!
  • What is Ultracoin?
  • Ultracoins's Speed - 3 Fully Confirmed Global Transaction in 90 Seconds

Wallet:


NOTE:
Code:
Go to the debug window, console and type "getmininginfo" if you want to utilize this new feature. This update is NOT mandatory.

Example:

Use "networkhashps/1000^3=hashrate in ghash/s" to calculate

N factor explanation:

N-Factor     Seconds Since Launch     Days at N-Factor        Start Date                Memory size
4            0-524287                   6.07               12 / 30 / 13 @ 12:00:00am UTC    8KB
5            524288-786431              3.04               01 / 05 / 14 @ 01:38:08am UTC    16KB
6            786432-1048575             3.0                01 / 08 / 14 @ 02:27:12am UTC    32KB
7            1048576-1835007            9.1                01 / 11 / 14 @ 03:16:16am UTC    64KB
8            1835008-2097151            3.1                01 / 20 / 14 @ 05:43:28am UTC    128KB
9            2097152-4194303            24.2               01 / 23 / 14 @ 06:32:32am UTC    256KB
10           4194304-5242879            12.2               02 / 16 / 14 @ 01:05:04pm UTC    512KB
11           5242880-8388607            36.4               02 / 28 / 14 @ 04:21:20pm UTC    1MB
12           8388608-12582911           49                 04 / 06 / 14 @ 02:10:08am UTC    2MB
13           12582912-16777215          48                 05 / 24 / 14 @ 03:15:12pm UTC    4MB
14           16777216-33554431          194                07 / 12 / 14 @ 04:20:16am UTC    8MB
15           33554432-41943039          97                 01 / 22 / 15 @ 08:40:32am UTC    16MB


What to expect as a result:

1- An equilibrium between CPU and GPU mining at one point.
2- UTC value rising as a result of increased cost to mine.
3- UTC becoming more and more ASIC resistant as time goes by.
4- Cloud mining will be a choice as another mining medium.

Conclusion: UTC is positioning itself to be a major beneficiary of the LTC migration.
We all saw the migration from bitcoin to LTC as a result of ASICS.
Soon UTC will see the same sort of migration as Scrypt Asics roll out in large numbers.

Source Code (Developers Only): Download  |  
Linux GPU Miner Source (Developers Only): Download

Miners:

Helpful Links:



Official UltraCoin Dev Pool - NOW OPEN!
Official UltraCoin Dev Pool (2) ( NEW ) 2,5% FEE  : NOW OPEN!

All fees generated by this pools will be donated to the Ultracoin development fund, events, promotions and other efforts.

Please visit our site HERE to browse the most up-to-date list of UTC Pools.



Please visit our site HERE to browse the most up-to-date list of UTC Exchanges.

How do I solo mine?

Code:
Create an ultracoin.conf within your %APPDATA% folder and add these lines:
 
 rpcuser=youruser
 rpcpassword=yourpassword
 rpcallowip=127.0.0.1
 daemon=1
 server=1
 listen=1
 
Start the ultracoin client, edit solo_mining.bat with the specified user and password, and run the .bat. Enjoy mining!
NOTE: Please set expiry = 1, scan time = 1, and queue = 0 in cgminer to receive lower rejects. Thanks!

What is Proof of Stake?

Code:
5,20% interest per year if you:

1. Have UTC in wallet
2. Don't spend it during that year
3. Have wallet online all year
4. Have wallet unlocked for minting, do this like so:
    - Open debug window, then console, then type: 'walletpassphrase' yourpassword '999999999' true

In Depth Explanation of POS: https://en.bitcoin.it/wiki/Proof_of_Stake

Can you please explain the details of the pre-mine?

Code:
Absolutely! In fact, it has already been laid out. Please peruse the content of the original post below for the in-depth answer.


    Please visit our site HERE to browse the most up-to-date list of UTC Services.




    Please visit our site HERE to browse the most up-to-date list of UTC Marketplaces.

    So, you now have UTC? What else can you do with it besides sell/hold it? How about buy stuff. After all, that is the purpose of a currency--to exchange it for goods and services. Below you will find the currently available shops whom accept UTC!




    Ultracoin is fast, efficient, effective and now portable. Several apps have been developed to help extend your UTC experience beyond your PC. We have exchange trackers, profitability calculators and more readily available with sever additional apps and widgets currently in development. Frequent this page for the latest and greatest UTC innovations!




    Original Post:

    [/list]
    Code:
    Hello,
     
    I would like to take this opportunity to announce the release of our coin called :[b]Ultracoin (UTC)[/b] on [u]February 1st[/u].

    [b]which is asic-resistant[/b]

     
    We have been working hard to finalize our coin, and I have been fortunate enough to work with a team consisting of a good dev and a professional external consultant to help guide the entire process. We have also commissioned custom pool software with real time API data to our website to track various statistics, such as users, hashrates and current difficulty.
     
    You may know me (bumface) as a chat moderator on btc-e, however i would like to emphasize the fact that this coin is [u]not[/u] an affiliate of btc-e, but a personal endeavour with a proper team.
     
    Through our common love for crypto we got together as equal partners to make this coin a reality. We have offered rewards in BTC and UTC for many jobs, and some jobs are still open (Please view the 'Rewards and Bounties' section.)

    We are currently in negotiations with multiple exchanges

     
    Announcement                             : 13 jan.
    Launch and                         : February 1st.
    Mining start                                : X

    We have this logo as a temperary logo, we have commissioned a logo by a real graphic designer, if this does not work out, we will organise a competition with a reward.


    [size=10pt][size=10pt][size=10pt]Launching time:7:00PM UTC
    [url=http://www.timeanddate.com/countdown/generic?iso=20140201T20&p0=16]http://www.timeanddate.com/countdown/generic?iso=20140201T20&p0=16[/url]


    Website:http://www.ultracoin.net/

    #ultracoin on [url=http://webchat.freenode.net/]http://webchat.freenode.net/[/url]
     
    [i]Please view the technical specifications and information below: [/i]
     
     
    -2 equal partners (ziggy and bumface)

    -Scrypt-ChaCha  
     
    -Pow/Pos

    ultracoin is a hybrid proof-of-work/proof-of-stake coin, whereby active nodes are involved in the mining of blocks if they hold utc.
    this will give a strong incentive to a. hold coins and b. be an active node (e.g. have wallet open/running) on the network.

    this means that, under certain circumstances, you may accrue 20% proof-of-stake interest per year on the coins you own.

    a good source for more information is https://en.bitcoin.it/wiki/Proof_of_Stake
     
    -Total coins: 100,000,000
     
    -Premine: 2% (2 million UTC, please view public premine distribution ledger below.)
     
    -Block time target: 30 seconds
     
    -Block reward: 50, halving every 990,000 blocks
     
    -Difficulty retarget:max 200% per 30mins
     
    -Mined block confirmation: 50
     
    -Transaction confirmation: 5
     
    -Port: 44100
     
    -Rpc port: 44101
     

    [u]Windows-qt client:[/u]
    [url=https://mega.co.nz/#!M9cCAaCZ!PUnxoWI8GfUgDTkwRK9NsPLrjsFQxvsMreFND6FXV_Q]https://mega.co.nz/#!M9cCAaCZ!PUnxoWI8GfUgDTkwRK9NsPLrjsFQxvsMreFND6FXV_Q[/url]

    [color=red]OFFICIAL POOL 1: [/color][url=http://www.ultracoinpool.com]www.ultracoinpool.com[/url]  NOT open yet for registration

    [u]CPU Mining:[/u] Open the console and type setgenerate true to start mining.
     

    [color=red][u]GPU Miner:[/u] [/color]

    [url=https://mega.co.nz/#!AwkFGQRR!LYwU5DXzLeVKyTXpVsNgNifre8ANFxHUVHwgt0Q-rZs]https://mega.co.nz/#!AwkFGQRR!LYwU5DXzLeVKyTXpVsNgNifre8ANFxHUVHwgt0Q-rZs[/url]
     
     Open ultracoin.conf and add these lines:
     
     rpcuser=youruser
     rpcpassword=yourpassword
     rpcallowip=127.0.0.1
     daemon=1
     server=1
     listen=1
     
     Start ultracoin client, edit solo_mining.bat with user and password, run the .bat, done.
     
    please set expiry = 1, scan time = 1, and queue = 0 in cgminer to lower rejects.

    [u]logos:[/u]
    [url=http://nl.tinypic.com/view.php?pic=hu5dzq&s=5#.UtRZGPTuLkJ]http://nl.tinypic.com/view.php?pic=hu5dzq&s=5#.UtRZGPTuLkJ[/url]
     
    [u]Source:[/u]
    [url=https://github.com/dx11/ultracoin-2]https://github.com/dx11/ultracoin-2[/url]

    [u]Twitter:[/u] [url=https://twitter.com/official_utc]https://twitter.com/official_utc[/url]
     
    -------------------------------------------------------------------------------------------------------------
     
    [i]-Why is there a premine?[/i]
     
     
    You will probably have noticed a 2% premine, allow me to explain why we did this. We wish to be open about every single coin in existence, so you may see where it went and why.



    [b]Public premine distribution ledger:[/b]
     
    [u]-1.600.000 UTC[/u] are available to purchase by any potential stakeholder (Please view stakeholders proposition below.) in an open bidding system with a minimum bid of 0.00005[btc]              
     
     
    [u]-100.000 UTC[/u] go to partner 1:[u]Ziggy[/u] (dev)                                                                                                                      
     
    [u]-100.000 UTC[/u] go to partner 2:[u]bumface[/u] (founder)                                                                                                                
     
     
    [u]-100.000 UTC[/u] go to our professional external consultant. (as well as 5 btc)                        
     
    [u]-100.000 UTC[/u] go to rewards for jobs done by any capable developer, for example: making an android wallet, or making a working  
    mining pool with real-time API data link to our main website. (also btc rewards)
     

     
     
    Please note that every partner gets [u]0.1%[/u] of the total number of coins, we feel this is not unreasonable as a compensation for our time and investment.
     
    We will have the balance of our wallets visible on our homepage  so everybody can see when we sell coins from our personal wallet. The reason we do this is because we feel there are too many coins where the premine is left unexplained and there are vague wallets with unidentified coins and owners.

    We hope that this will foster a good relationship with the community.
     
    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------  
     
    [b]What is different about Ultracoin??[/b]

    Let be honest, the code is not the most difficult part of an endeavour like this,although scrypt ChaCha is not the easyest thing to do because of enhanced asic resistance.

    So what is left then? ......the team.The people behind it. What is their intention? what is their vision?


    Ultracoin has employed many influential people for ammounts like 5 btc, 10 btc and 15 btc per person as well as UTC rewards.Every person brings a different skillset to the table and is hard at work to make things happen for UTC.

    It is not yet super evident to the public how this will unfold into actual results, but if you keep an eye on us you will see many fast and wonderfull developements.


    Without this kind of support a coin is just a coin, and has no real future.We wish to stand out from a legion of altcoins and with the building of this community we will achieve that.
    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
     
    [b]Stakeholders proposition[/b]

    BIDDING IS CLOSED<EXPECT A REPLY TODAY< WE MIGHT BE ABLE TO ACCEPT (ALMOST) ALL BIDS>STAY TUNED

    ALL OFFERS ACCEPTED, NOBODY REJECTED
     
    The reason we want to sell of coins during the launch is because not everybody has an ability to mine coins, this would give an unfair advantage to early miners.
    They would get a fairly large amount of coins due to low difficulty, giving a great advantage over traders who have to wait until our coin is accepted on exchanges.
     
     
     
    [i]Stakeholders rights:[/i]
     
    Stakeholder have a right to be anonymous for as long as they please (including in perpetuity).
     
     
     
    [u]A total of 1,600,000 UTC will be available to purchase[/u] right after the UTC launch by anybody who desires to do so. These 1.600,000 UTC will come out of the 2% premine, [u]not[/u] on top of it. This means 98% (98 million UTC) of all coins can be mined by anyone with a GPU or CPU.
     
    We will accept open offers with a coin amount and price of your choice (with a minimum bid of 0.00005 btc per unit of UTC), and will select people until all 1,600,000 UTC is sold.

    We will launch as on February 1st, however you may make an offer to us now as of [u]now[/u].

    Please send your offer to [b]X[/b]. Offers will be entertained and replied between 13-1-2014 and 27-1-2014



    this offer must include:

    - your (nick) name this name will be on our website along with your UTC adress to offer total transparancy, if you wish to remain anonymous put an X here.

    -The ammount of UTC you wish to purchase

    -Your UTC unit price (with a minimum of 0.00005[btc]) and the totals in UTC and BTC.




    [i]Example message:[/i]

    name             : billy
    UTC amount     : 10.000 (ten thousand)
    unit price         : 0.00005
    total             : 0,5[btc]


    you may copy & paste this

    name             :
    UTC amount        :
    unit price         :    
    total             :      [btc]

    If your offer is accepted you will recieve an adress to send [btc] to, and as soon as we have received and verified your [btc], you will receive an e mail confirming your payment.We will destribute all the wallets to stakeholders on the same day as the wallet link goes up, and then you will recieve your coins( this is to prevent early mining and also reduce chance of 51% attack


    please note that verification will not be optimal in the beginning since we need the miners to act as nodes (Custom pool software is being built).


     


    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


    [i]-What will happen with the [btc] that comes in?[/i]


     
    A portion of this amount will be used for rewards and bounties to further the development of Ultracoin (please view the rewards and bounties section below), as well.
     
    The remainder of the BTC will be divided under the 2 equal partners to recoup the investment in this coin, and yes, we will also earn [btc] with this endeavour.
     
    Also note that we are in this thing for the long haul and we are thinking long term, so because we might sell our coins years from now, the 2 partners will take some BTC at the start from the stakes that are sold.
     
    We have no intention of dumping our coins when it reaches a certain value and then abandon this project. We would also like to state that we have no intention of becoming the next hype coin, with a massive rise in the first week and then a downwards slope without recovery. If this is what you desire there are many hypecoins to choose from, but that`s not us.
     
    Bitcoin took 5 years to get to this level, so we have all the time in the world. We would rather have slow growth towards a truly stable coin than the next hype coin.


    [i]Please note that we would also like to ask larger stakeholders to sell responsibly right after launch, so that a healthy market may form.[/i]



    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
     
    [b]Rewards and Bounties [/b]
     
     
    We will be giving rewards/bounties for certain jobs paid in BTC and/or UTC.



    Our dev will review your work, and if it is selected we will launch it for a 2 week evaluation period in which the community can use it so we may test it for flaws and bugs.
     
    After the work has passed the quality norm,you will receive your reward, and it will be visible on our homepage.
     
    such jobs include:
     
    -Blockchain explorer       -     7500 UTC

    -Android wallet              -     3000 UTC
     
    -Mac wallet                   -     3000 UTC

    -mac os gpu miner         -     3000 UTC

    -Linux wallet                 -     3000 UTC
      
    -Linux gpu miner            -     3000 UTC


    If you feel you are a capable developer, you may start one of these jobs at once, please announce that you are working on it on this thread.

    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
     
     
    We hope to have informed you properly and openly about our project and we know that we are nothing without acceptance from the community. Crypto is an open market and we hope we can provide a stable coin with a proper and dedicated team behind it, however the community will decide our success or failure so please join us and make ultracoin a success.
     
    Thank you :D

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    Anotheranonlol
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    January 13, 2014, 07:01:00 PM
     #2

    Quote
    -Blockchain explorer       -     10.000

    10 UTC for a blockchain explorer implementation?

    edit: nvm 10.000 = 10k

    I didn't receive any response to email following order instructions for early stake

    Assuming you are just waiting for price to bump up significantly above minimum- to collect as much as possible? the process seems a little archaic and not transparent. I didn't see a reference to any orderbook with published offers as mentioned in thread

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    January 13, 2014, 07:02:38 PM
     #3

    Nice
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    January 13, 2014, 07:05:44 PM
     #4

    Should be amusing to hear the premine->ipo comments.
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    January 13, 2014, 07:06:42 PM
     #5

    Whats the point of "reserving" in an announcement thread?

    Can someone explain this to me?


    Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
    "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
    View it on the Blockchain | Genesis Block Newspaper Copies
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    January 13, 2014, 07:10:52 PM
     #6

    So we have to wait a week to mine on CPU and GPU?

    The only option at the moment is to place bids for UTC and no wallet available, if the bid is accepted. Or did I miss something. Thanks  Cheesy

    "Smile" they said "Life could be worse!"...So I did and it was.

    http://onename.io/onefix
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    January 13, 2014, 07:12:14 PM
     #7

    Whats the point of "reserving" in an announcement thread?

    Can someone explain this to me?



    just report them ...  they're forbidden now and only stupid like " i dont have to say something now, but maybe later" or "this place is to sell for bitcoin cause it's awesome"

    just stupid  nothing more Wink

    DOGE: DDvk8MVrj78ymkC9kfsn9K8ZJjQxBbieAv
    GLD: E599JmQd5WirEJukVDkwtm3An77g61ffz2
    COL: yZnQ7ZCKa4ZuvNuvN1XMGSwJ7ZEbsxtWd
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    January 13, 2014, 07:14:20 PM
     #8

    You paid an external consultant 5BTC for this?  Huh
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    January 13, 2014, 07:16:34 PM
     #9

    edit i see now there is 100M coins.



    ████████
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    gwlloyd
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    January 13, 2014, 07:19:15 PM
     #10

    No Linux Client? Show-stopper imo.
    virtualdn
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    January 13, 2014, 07:20:39 PM
     #11

    which are the innovations your coin brings?

    your link here
    gwlloyd
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    January 13, 2014, 07:46:34 PM
     #12

    reserved

    You're a "first" kinda guy aren't you lol
    bumface
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    January 13, 2014, 07:46:53 PM
     #13

    You paid an external consultant 5BTC for this?  Huh

    we spent a whole lot more then 5 btc actually

    bumface
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    January 13, 2014, 07:59:04 PM
     #14

    You paid an external consultant 5BTC for this?  Huh

    we spent a whole lot more then 5 btc actually

    why you don't respond to email offers above min? waiting for 5x or 10x price?
    It's strange to buy this now as we don't have indication of what market is paying.



    announcement says : Offers will be entertained and replied between 13-1-2014 and 27-1-2014

    Evilish
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    January 13, 2014, 08:09:26 PM
     #15

    That sounds promising. I'll definitely be supporting this coin by mining.
    Zukii
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    January 13, 2014, 08:17:53 PM
     #16

    Difficulty retarget of a day with 30 second block times will be instamine galore.
    2,880 blocks at lowest difficulty?

    i hope the reward will ramp up so that the coins distributed is linear on launch day rather than logarithmic .
    cokea
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    January 13, 2014, 08:20:39 PM
     #17

    gonna mine
    cryptohunter
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    January 13, 2014, 08:20:47 PM
     #18

    Beware self moderated thread too..... another ultrascam tactic. If this gets removed i just start my own thread with extra ultrascam warnings.

    Self moderated threads should not be allowed for coin launches at all.

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    kyma
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    January 13, 2014, 08:26:56 PM
     #19

    you can mine with the windows-qt client? or how do i set up cpu mining?

    bumface
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    January 13, 2014, 08:30:51 PM
     #20

    Beware self moderated thread too..... another ultrascam tactic. If this gets removed i just start my own thread with extra ultrascam warnings.

    Self moderated threads should not be allowed for coin launches at all.

    the reason that its self moderated is that people make random acusations of scamcoins,without any form of argumentation......

    just becasue something has a symptom doesnt mean it is the thing, if i start barking, that does not make me a dog

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