UTC 7:13 9.9.2011 -- [Critical] EDIT from now on, all updates dispensed from
Geist website and from from Github (sources)
----Always make sure your config is up to date - GG needs it!
-- Hello everybody !
Ladies and gentlemen, it is that time again - cryptocurrency of the week time!
Has it been too long since the last one started ?
Is it too soon ?
Who knows. Without further ado, I hereby present you, the Geist Geld!
https://github.com/Lolcust/GeistGeld Geist Geld is an experimental currency intended to test out the limits of block generation rate empirically, as well as (assuming it does not die due to overly rapid block generation rate) the behavior of a cryptocurrency with (almost) stable generation rate and no upper limit or alteration to supply.
Geist Geld intentionally seeks to trade some decentralization to gain more transaction speed, thus,
pools are kindly invited to participate so that centralization would increase somewhat
Now, with your kind permission, some infrequently asked questions
Why not call it "Flaccid Coin" ?Actually, name is the idea of the person who kept motivating me to go through with the project.
It is not a bad name - it neatly abbreviates to GG or GEG, it sounds sort of cool (all German words do) and most importantly, it does not follow the stale and confusing naming scheme of
%random_word%coin (which, quite frankly, makes differentiating between alt-coins quite a chore)
Why did you decide to remove all alterations of production over time ?It seemed like an interesting thing to try out.
If Bitcoin's approach can be metaphorically compared to mining an (ever decreasing) amount of gold, GeistGeld's approach can be metaphorically compared to "idealized" solar power, when output is stable (barring a few "flares" when a new big pool joins, of course
)
The block rate is too fast !That's not a question.
However, I see little reason for concern.
See, GG is specifically intended as an experiment for empirically assessing "cryptocurrency" behavior under such conditions. Worst that can happen is that GG fails to deliver, but that is hardly a guaranteed outcome.
Only he who risks is free.
Why are you using Multicoin ?Multicoin is a project with much potential and wonderful features (Escrow's already there, and more stuff on its way), and using it will allow Geist Geld to be proving ground for new ideas while benefiting from functional richness multicoin has potential to offer. If/when custom features /GUIs etc. will be developed for GG, they will be incorporated into MC (assuming the maintainers agree as to their value) and vice versa.
Generally, it's a streamlined and efficient approach to rolling out a new cryptocurrency, and I hope more BTC forks will use it as a starting point.
Why are you leeching on the Bitcoin community ?To the contrary, not only am I not leeching, I happen to think that, should GG survive it's launch, it can serve as guinea pig for various optimizations that can be later implemented in Bitcoin (assuming real programmers take interest, of course), thus benefiting community at large.
Also, one of conditions for bounty projects (which GG will traditionally have, stand by for list) will be that they are made open-source, so that everyone can benefit from them
Where is the site?http://www.geistgeld.org/Give me windows binaries!
Ok, here http://www.geistgeld.org/getting-started.html
has both a version with a makeshift GUI solution which runs on windows out of the box and has been constructed from finest opensource portable console and a bunch of exquisite batch files (recommended for windows users) and a raw one, just file and configAny services ?Assuming it lives past day 4, there will be exchanges, pools, and
a wonderful laundry service that guarantees 100% squeaky clean GeistGeld (mined, no history attached)
What will happen if the network sustain a block per 15 seconds ?Geist Geld will push the limit further and up the ante by increasing it to 1 block per 7 seconds (BTW, I expect to also have
"message signing" feature implemented in Geist Geld by that time
)
That would probably allow for interesting stuff to take place...
=====ATTENTION! ALL UPDATES NOW GOING FROM THE SITE![/url]=====
