[ANN]Fedoracoin - The Community is Taking Over [MAIN]

[Nthused]

As of now there are 80,467,936,360 TIPS up from 71,936,151,845 in under 3 days.

80billion from a total 500billion isn't too bad, we will see how much it grows in the coming days.

[thaReal]

Hey, how about when the new site is completed...if you want a bit of exposure i was thinking maybe we could get a few pixels on here.... http://pxlcoin.com/ ....this is being watched by loads of people and you can link the homepage to it....just an idea

Well I have to say when I first read this / looked at the site, I thought it was stupid, but now that I'm thinking about it a little more it's actually not that bad of an idea...

First time I've every heard about the site/coin; I'll grab the wallet and look at an estimate of how many coins/day i can mine. I think that the best way is if we could each mine pxl's (for probably ~1day max) and then pool them to get a spot for the fedora logo/link. I'll check it out a little more - anyone else down for this?

Thx for the idea quarkkid!

No problem, like i said it was just a random idea, was just throwing it out there.
i already own a fair amount of these, i'l be willing to donate some of course  

Well I don't know if anyone else is going to donate, but I think this is a pretty good initiative to gain some exposure for Fedora. Even though only a few pixels are bought now, I'm pretty sure once more people hear about it, they're going to go quick so I think it's a good idea to jump in soon to maximize the ROI on doing this. At a quick glance I see ~7 adds - each only about 25 pixels. I don't have a ton of mining power, but I should be able to get 100 PXL in about a day or so which is good for a 10x10 block (which alone would be the biggest ad on the site to date).  I don't want to suggest diverting too much mining power towards this random coin since it's important to maintain Fedora's hash rate, but I think a 20x20 block right now would be a pretty good goal.

If anyone else is willing to donate let us know and we can coordinate this in maybe 1-2 days to grab a nice block. Heh, what I love the most is that this stupid coin may actually be useful... for helping to promote fedoracoin!!! 

[MystPhysX]

Ya it seemed that way and no problem it is a step in the right direction.
We are working on getting the hosting setup do you have any service you would recommend?

Sorry I don't have any experience with hosting services, I've always hosted on my own servers.

Just wondering, what was your intitial affiliation with Fedoracoin? Like were you part of development or any of that?

I've just been present since the idea was first proposed, I handled the promotion and thread here for a while but that's about it.

[quarkkid]

Hey, how about when the new site is completed...if you want a bit of exposure i was thinking maybe we could get a few pixels on here.... http://pxlcoin.com/ ....this is being watched by loads of people and you can link the homepage to it....just an idea

Well I have to say when I first read this / looked at the site, I thought it was stupid, but now that I'm thinking about it a little more it's actually not that bad of an idea...

First time I've every heard about the site/coin; I'll grab the wallet and look at an estimate of how many coins/day i can mine. I think that the best way is if we could each mine pxl's (for probably ~1day max) and then pool them to get a spot for the fedora logo/link. I'll check it out a little more - anyone else down for this?

Thx for the idea quarkkid!

No problem, like i said it was just a random idea, was just throwing it out there.
i already own a fair amount of these, i'l be willing to donate some of course  

Well I don't know if anyone else is going to donate, but I think this is a pretty good initiative to gain some exposure for Fedora. Even though only a few pixels are bought now, I'm pretty sure once more people hear about it, they're going to go quick so I think it's a good idea to jump in soon to maximize the ROI on doing this. At a quick glance I see ~7 adds - each only about 25 pixels. I don't have a ton of mining power, but I should be able to get 100 PXL in about a day or so which is good for a 10x10 block (which alone would be the biggest ad on the site to date).  I don't want to suggest diverting too much mining power towards this random coin since it's important to maintain Fedora's hash rate, but I think a 20x20 block right now would be a pretty good goal.

If anyone else is willing to donate let us know and we can coordinate this in maybe 1-2 days to grab a nice block. Heh, what I love the most is that this stupid coin may actually be useful... for helping to promote fedoracoin!!! 

if you want i will donate the whole amount of PXL to save time and your hashing power...just have a think about which logo you want to use and pm me the picture and i will  send it to their Dev team. Unless you want to wait until the website has been re-worked? I dont know what stage the other guys are at with this...

[thaReal]

Hey, how about when the new site is completed...if you want a bit of exposure i was thinking maybe we could get a few pixels on here.... http://pxlcoin.com/ ....this is being watched by loads of people and you can link the homepage to it....just an idea

Well I have to say when I first read this / looked at the site, I thought it was stupid, but now that I'm thinking about it a little more it's actually not that bad of an idea...

First time I've every heard about the site/coin; I'll grab the wallet and look at an estimate of how many coins/day i can mine. I think that the best way is if we could each mine pxl's (for probably ~1day max) and then pool them to get a spot for the fedora logo/link. I'll check it out a little more - anyone else down for this?

Thx for the idea quarkkid!

No problem, like i said it was just a random idea, was just throwing it out there.
i already own a fair amount of these, i'l be willing to donate some of course  

Well I don't know if anyone else is going to donate, but I think this is a pretty good initiative to gain some exposure for Fedora. Even though only a few pixels are bought now, I'm pretty sure once more people hear about it, they're going to go quick so I think it's a good idea to jump in soon to maximize the ROI on doing this. At a quick glance I see ~7 adds - each only about 25 pixels. I don't have a ton of mining power, but I should be able to get 100 PXL in about a day or so which is good for a 10x10 block (which alone would be the biggest ad on the site to date).  I don't want to suggest diverting too much mining power towards this random coin since it's important to maintain Fedora's hash rate, but I think a 20x20 block right now would be a pretty good goal.

If anyone else is willing to donate let us know and we can coordinate this in maybe 1-2 days to grab a nice block. Heh, what I love the most is that this stupid coin may actually be useful... for helping to promote fedoracoin!!! 

if you want i will donate the whole amount of PXL to save time and your hashing power...just have a think about which logo you want to use and pm me the picture and i will  send it to their Dev team. Unless you want to wait until the website has been re-worked? I dont know what stage the other guys are at with this...

Here's a temporary solution - I'll still mine for the day or so and grab 100 PXL. Obviously you've known about PXL so I'm sure that number is probably pretty small in comparison to what you have, but you're right that  it's probably best to hold off for at least a little bit until the logo / website is locked in. That also gives some time for a few people to hop on this and donate too if they choose. If not, then you can just take buy the 'main ad' that links to the site and I'll get another that maybe links to this thread. Maybe would even look better if there was one big one and a few little ones. I dunno, I'd say lets give it maybe a day to see what people think/who want to contribute, but after that I think the sooner the better.

[quarkkid]

Sounds good man

[pooler_miner]

News about Fedora coin looks good. But what about new development? https://github.com/invisibel/fedoracoin
I'm worry about difficulty and total coin supply. Looks like it needs to review this parameters in the source code.

UPD: main.h in the source code contains this string:
static const int64 MAX_MONEY = 2500000000 * COIN; // FedoraCoin: maximum of 100B coins (given some randomness), max transaction 500,000,000 for now

What did it mean? Why its commented as 100 billion total coins instead of 500 billions was announced?

[Fozy]

Ya it seemed that way and no problem it is a step in the right direction.
We are working on getting the hosting setup do you have any service you would recommend?

Sorry I don't have any experience with hosting services, I've always hosted on my own servers.

Just wondering, what was your intitial affiliation with Fedoracoin? Like were you part of development or any of that?

I've just been present since the idea was first proposed, I handled the promotion and thread here for a while but that's about it.

MystPhysX, We wanted to create a Facebook presence, but a fedoracoin page already exists.  Do you know who set up the existing Facebook page?

[Fozy]

Donate, I love your logo comps and I wanted to throw a design idea at you.  What would you think about incorporating a person in to the logo?  Maybe just a profile of a man wearing the fedora?  No facial detail, just an outline.

 

[theking7426]

News about Fedora coin looks good. But what about new development? https://github.com/invisibel/fedoracoin
I'm worry about difficulty and total coin supply. Looks like it needs to review this parameters in the source code.

UPD: main.h in the source code contains this string:
static const int64 MAX_MONEY = 2500000000 * COIN; // FedoraCoin: maximum of 100B coins (given some randomness), max transaction 500,000,000 for now

What did it mean? Why its commented as 100 billion total coins instead of 500 billions was announced?

If I am correct it is likely not changed from the code that i similar to doge which has 100 billion coins if I am not mistaken

[theking7426]

Hey, how about when the new site is completed...if you want a bit of exposure i was thinking maybe we could get a few pixels on here.... http://pxlcoin.com/ ....this is being watched by loads of people and you can link the homepage to it....just an idea

Well I have to say when I first read this / looked at the site, I thought it was stupid, but now that I'm thinking about it a little more it's actually not that bad of an idea...

First time I've every heard about the site/coin; I'll grab the wallet and look at an estimate of how many coins/day i can mine. I think that the best way is if we could each mine pxl's (for probably ~1day max) and then pool them to get a spot for the fedora logo/link. I'll check it out a little more - anyone else down for this?

Thx for the idea quarkkid!

No problem, like i said it was just a random idea, was just throwing it out there.
i already own a fair amount of these, i'l be willing to donate some of course  

Well I don't know if anyone else is going to donate, but I think this is a pretty good initiative to gain some exposure for Fedora. Even though only a few pixels are bought now, I'm pretty sure once more people hear about it, they're going to go quick so I think it's a good idea to jump in soon to maximize the ROI on doing this. At a quick glance I see ~7 adds - each only about 25 pixels. I don't have a ton of mining power, but I should be able to get 100 PXL in about a day or so which is good for a 10x10 block (which alone would be the biggest ad on the site to date).  I don't want to suggest diverting too much mining power towards this random coin since it's important to maintain Fedora's hash rate, but I think a 20x20 block right now would be a pretty good goal.

If anyone else is willing to donate let us know and we can coordinate this in maybe 1-2 days to grab a nice block. Heh, what I love the most is that this stupid coin may actually be useful... for helping to promote fedoracoin!!! 

if you want i will donate the whole amount of PXL to save time and your hashing power...just have a think about which logo you want to use and pm me the picture and i will  send it to their Dev team. Unless you want to wait until the website has been re-worked? I dont know what stage the other guys are at with this...

Here's a temporary solution - I'll still mine for the day or so and grab 100 PXL. Obviously you've known about PXL so I'm sure that number is probably pretty small in comparison to what you have, but you're right that  it's probably best to hold off for at least a little bit until the logo / website is locked in. That also gives some time for a few people to hop on this and donate too if they choose. If not, then you can just take buy the 'main ad' that links to the site and I'll get another that maybe links to this thread. Maybe would even look better if there was one big one and a few little ones. I dunno, I'd say lets give it maybe a day to see what people think/who want to contribute, but after that I think the sooner the better.

I also have a small amount of PXL that I could throw towards this idea, thinking we wait for the logo vote. The one in this thread is awsome but we hould have the vote just to make sure the earlier submissions are not throw to the wind, they did put time in as well.

[mouseman]

News about Fedora coin looks good. But what about new development? https://github.com/invisibel/fedoracoin
I'm worry about difficulty and total coin supply. Looks like it needs to review this parameters in the source code.

UPD: main.h in the source code contains this string:
static const int64 MAX_MONEY = 2500000000 * COIN; // FedoraCoin: maximum of 100B coins (given some randomness), max transaction 500,000,000 for now

What did it mean? Why its commented as 100 billion total coins instead of 500 billions was announced?

Great find. I also would like further clarification on this parameter.
In light of eclipsing 81 billion coins in very short order, miners/investors are going to want to definitively know whether Fedoracoin will have a total mintage of 100 billion or 500 billion.

[thaReal]

News about Fedora coin looks good. But what about new development? https://github.com/invisibel/fedoracoin
I'm worry about difficulty and total coin supply. Looks like it needs to review this parameters in the source code.

UPD: main.h in the source code contains this string:
static const int64 MAX_MONEY = 2500000000 * COIN; // FedoraCoin: maximum of 100B coins (given some randomness), max transaction 500,000,000 for now

What did it mean? Why its commented as 100 billion total coins instead of 500 billions was announced?

Great find. I also would like further clarification on this parameter.
In light of eclipsing 81 billion coins in very short order, miners/investors are going to want to definitively know whether Fedoracoin will have a total mintage of 100 billion or 500 billion.

Well hopefully someone more familiar with developing the qt source can give some direction. The 'MAX_MONEY' constant is a function of the variable 'COIN', but that isn't defined in main.h - I'll try to search through some of the other code. Also, I know that there was a fork early on so that comment of 100B coins could be a relic from an older version of Fedora. Since the comment mentions "given some randomness" when talking about the maximum number of coins, I have to imagine that the COIN variable is a psuedo-random parameter (the randomness probably comes in to play with the reward blocks). I'll see what I can find, but I wouldn't jump to any conclusions based on the comments alone - not only could they have not been updated from the original version, it seems a large amount of the code was copied directly from dogecoin (and stablecoin to some extent) so there are likely things that should be changed as a result of that as well.

If anyone else can explain where the COIN parameter is defined, please let me know...

[theking7426]

I'm also looking in to it but I am pretty sure it is just a leftover comment from doge as fedora has code from doge

[theking7426]

It looks like the comment in main.h about 100 billion coins is a remnant from old code, we are looking in to it further but in the meantime

BOUNTY - 1 MIL TIPS -  Verify MAX COIN SUPPLY of Fedoracoin

[pooler_miner]

I did 20-minulte-research on source code and find something. I'm not so familiar with C-programming and unfortunately English is not my native tongue, so be patient with reading that.

What i'm find on Bitcoin forum: https://bitcointalk.org/index.php?topic=331069.0

He clearly doesn't understand the code, then. MAX_MONEY is only used as a sanity check to prevent "impossible" transactions and integer overflows (any transaction sending more than MAX_MONEY is invalid, regardless of all other factors). The actual limit is enforced in this function in main.cpp:

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    int64 nSubsidy = 50 * COIN;

    // Subsidy is cut in half every 210000 blocks, which will occur approximately every 4 years
    nSubsidy >>= (nHeight / 210000);

    return nSubsidy + nFees;
}

The result of this code is the first 210,000 blocks are worth BTC50 each, the next 210,000 blocks are worth BTC25 each, and so on (any block created with a greater value (eg, by modified or faulty mining software) will be rejected as invalid by all other nodes). This is a convergent infinite series with a limit of BTC21,000,000. However, due to rounding errors, the series is actually finite, and reaches a limit of BTC20,999,999.97690000 after 6,930,000 blocks.

So, as he said, the MAX_COINS does not define maximum of total coin supply directly. There is no direct constant in the sources that define this. MAX_COINS uses in some boundary checks, for example, max transaction amount.
Max coin supply amount defines implicitly in the infinite series, driven in the GetBlockValue() function.

The COIN constant is defined in the util.h header:
static const int64 COIN = 100000000;

As all amount in the coin system defines in integer values, real amounts are stored in satoshis. (1 satoshi = 1e-8 coin base, 1 satoshi = 1/100mil = 0.00000001 TIPS).

As i said above, MAX_MONEY define the maximum amount of transaction (and may be something more). At this moment it looks like:
static const int64 MAX_MONEY = 2500000000 * COIN; // FedoraCoin: maximum of 100B coins (given some randomness), max transaction 500,000,000 for now

It is 2.5 bil coins now. I think that developer comment of 500 mil max transaction is wrong, he is mistaked at this place.

What about real total coin supply ?

Code:

int64 static GetBlockValue(int nHeight, int64 nFees, uint256 prevHash)
{
        int64 nSubsidy = 10000 * OLDCOIN;
         
        std::string cseed_str = prevHash.ToString().substr(7,7);
        const char* cseed = cseed_str.c_str();
        long seed = hex2long(cseed);
        int rand = generateMTRandom(seed, 999999);
        int rand1 = 0;
        int rand2 = 0;
        int rand3 = 0;
        int rand4 = 0;
        int rand5 = 0;
       
        if(nHeight < 100000)    
        {
                nSubsidy = (1 + rand) * OLDCOIN;
        }
        else if(nHeight < 200000)      
        {
                cseed_str = prevHash.ToString().substr(7,7);
                cseed = cseed_str.c_str();
                seed = hex2long(cseed);
                rand1 = generateMTRandom(seed, 499999);
                nSubsidy = (1 + rand1) * OLDCOIN;
        }
        else if(nHeight < 300000)      
        {
                cseed_str = prevHash.ToString().substr(6,7);
                cseed = cseed_str.c_str();
                seed = hex2long(cseed);
                rand2 = generateMTRandom(seed, 249999);
                nSubsidy = (1 + rand2) * OLDCOIN;
        }
        else if(nHeight < 400000)      
        {
                cseed_str = prevHash.ToString().substr(7,7);
                cseed = cseed_str.c_str();
                seed = hex2long(cseed);
                rand3 = generateMTRandom(seed, 124999);
                nSubsidy = (1 + rand3) * OLDCOIN;
        }
        else if(nHeight < 500000)      
        {
                cseed_str = prevHash.ToString().substr(7,7);
                cseed = cseed_str.c_str();
                seed = hex2long(cseed);
                rand4 = generateMTRandom(seed, 62499);
                nSubsidy = (1 + rand4) * OLDCOIN;
        }
        else if(nHeight < 600000)      
        {
                cseed_str = prevHash.ToString().substr(6,7);
                cseed = cseed_str.c_str();
                seed = hex2long(cseed);
                rand5 = generateMTRandom(seed, 31249);
                nSubsidy = (1 + rand5) * OLDCOIN;
        }
 
    return nSubsidy + nFees;
}

Compared with the Dogecoin source, there is only new OLDCOIN instead of COIN value. OLDCOIN also in util.h is 500m, the Dogecoin COIN is 100m. COIN as i said above is satoshi-multiplier. I think it must stays as 100m in new coin. As we see, the real block rewards are 5x more than in DogeCoin. This explains the explosive emission in the first couple of coin days. A real total coin supply defines as infinite series and looks like it must be 500 bil really.

So, I see at this moment, Fedora coin technically is a Dogecoin, but all block rewards are 5x of doge.

What did you guys thinking about that ?

[pooler_miner]

Do we need the complete review and rebuild difficulty and block reward Fedora coin system? I think while mining will be so easy, coin rate wiil not raise so much, despite of the promotion and services building around it.

My TIPS address: Eb11uR6muZ5zZhFBoFMbDNSx3EUeUaMrE8

[withfedoraco.in]

Do we need the complete review and rebuild difficulty and block reward Fedora coin system?

TIPS was designed especially to fill the need for a coin that isn't all about value.
The idea is that a TIP of the hat can be a compliment, thanks, whatever.

Once the block reward halves, we'll see a steep fall in supply and eventually some real-world value.

[El3k0n]

We should really change the font of the wallet. If we want a serious currency, Comic Sans isn't exactly the right choice I guess.

[thaReal]

@pooler_miner - great explanation of some of that code, exactly what I was looking for. In your explanation you mentioned that the value of a Satoshi is 10^-8 where I had always thought it was 10^-9 - do you have any idea what's this based on? Just popped out as odd to me that it wouldn't be a common exponential denomination (ie. talking about 100 billionths vs trillionths).

I definitely agree with it being a leftover comment from dogecoin - there are a lot of these scattered thoughout the code that should be changed - I think that's just kind of sloppy. So it looks like you've definitively confirmed the maximum supply but I think it's interesting that a lot of people aren't very sure exactly how the supply is going to change with time. I'm going to look into trying to model the infinite series taking into account the block rewards in the comments (which I assume are correct...).

Here's another question I have that someone who's been around longer than I have can possibly answer. The comment for the last change is "undo the block reward tier changes i made before, /g/ was right again…" - This has to do with a change in when the rewards are given out, but I assume the rewards stayed the same...? I'm kind of curious if this was the change that increased the supply of fedoracoin by changing the reward tiers?? I think maybe I need to take a look at the blockchain and see what the mining payouts looked like at this date...