[ANNOUNCE] New alternate cryptocurrency - Geist Geld

[CosicMiner]

I just got this
ERROR: CheckBlock() : block timestamp too far in the future
ERROR: ProcessBlock() : CheckBlock FAILED

TIMETRAVELLER EVICTED.
HUGE SUCCESS.

I am so putting this instead of usual error text in the next build.

LOL
So i'm guessing its not my client making the wrong timestamp?

[wallet.dat]

TIMETRAVELLER EVICTED.
HUGE SUCCESS.

I am so putting this instead of usual error text in the next build.

It'd be cooler to put something like "Block velocity exceeds 88mph"

[Sekioh]

Orphans should show up in listtransactions, IIRC.

are you sure you have ntp=1, Sekioh ?

Yeah, had to be on the right chain, had the right block number in the 1600 range, was using the raw console, also tried doing the 'client' and straight out of box getting application exception crashes saying something about txn_ and the save point and to run database recovery. I wiped all the database and lock files, only the wallet was left and it redownloads most of the basics and then crashes there again before it gets very far into the process of setup.

This chains been nothing but trouble from the start for me :| Hours wasted to get reset then all the shares dont exist or are stale, and crashing. Was trying to dedicate some time to the chain, but this is just hassle after hassle.

[coblee]

The seven millions are legitimate, and are the bounties and laundry fund that I think I mentioned in the first post.

Wow, this was never mentioned. That's very sneaky of you. This is even worse than ixcoin. I'm glad this came out before I waste more time with this scamcoin.

[Cosbycoin]

Lolcust exactly how many premined GG coins do you have?
At the rate we have been generating these blocks it would take 93 days just to mine 7,000,000 GG.

That seems like an awfully long head start on bounty coins (over 3 months time at current rates).


 

[Lolcust]

 
Tell me this. What's to stop you from dumping them on the exchange when one does come along?

The fact that I will earn, at most, a grand 'o bucks in bitcoin, while instead I could use the Superfund as bounties (or convert small fractions into bitcoins to pay folks who don't like being paid in Geist) to make Geist better, implement optimizations that will prevent it from choking to death on its block-speed and c00l tricks like Contracts, hidden transactions and shit-whatnot, make my laundry, and insure a steady income from helping simple Joe Sixpack Bitcoinlaunderer   launder dirty bitcoins via "DirtyBTC->GG->LolcustLaundry->squeaky-clean GG->Squeaky-clean BTC (from a different exchange)" scheme ?

I could earn a grand o'buck by smuggling cellphones into Belarus.

What I want is to take a stab at viable alt-chain, with possibility of stable (if small) completely automated income via provision of much required community service

Not everyone is a dim short-term maximizer, dude.

This is starting to sound like the ixcoin story all over again...

Only with actual, you know, differences, and actual benefit to community (which has already manifested in the form of Timetraveler-eviction patch)

7 million premined coins in a single block? How many blocks did u get?

1 worth 7 mil, and 200 worth 7. You see, Multicoin code allows to put X into first block, and then apply a different ruleset to the rest. Neat feat.

I have given away every single Geist in the latter 200 blocks (to which any subsequent Block-exploration will trivially attest)

[Cosbycoin]

 
Tell me this. What's to stop you from dumping them on the exchange when one does come along?

The fact that I will earn, at most, a grand 'o bucks in bitcoin, while instead I could use the Superfund as bounties (or convert small fractions into bitcoins to pay folks who don't like being paid in Geist) to make Geist better, implement optimizations that will prevent it from choking to death on its block-speed and c00l tricks like Contracts, hidden transactions and shit-whatnot, make my laundry, and insure a steady income from helping simple Joe Sixpack Bitcoinlaunderer   launder dirty bitcoins via "DirtyBTC->GG->LolcustLaundry->squeaky-clean GG->Squeaky-clean BTC (from a different exchange)" scheme ?

I could earn a grand o'buck by smuggling cellphones into Belarus.

What I want is to take a stab at viable alt-chain, with possibility of stable (if small) completely automated income via provision of much required community service

Not everyone is a dim short-term maximizer, dude.

This is starting to sound like the ixcoin story all over again...

Only with actual, you know, differences, and actual benefit to community (which has already manifested in the form of Timetraveler-eviction patch)

7 million premined coins in a single block? How many blocks did u get?

1 worth 7 mil, and 200 worth 7. You see, Multicoin code allows to put X into first block, and then apply a different ruleset to the rest. Neat feat.

I have given away every single Geist in the latter 200 blocks (to which any subsequent Block-exploration will trivially attest)

You bring up valid points.

There are major difference and improvements yes.

Who did you give the 200 blocks to?

[Lolcust]

The seven millions are legitimate, and are the bounties and laundry fund that I think I mentioned in the first post.

Wow, this was never mentioned. That's very sneaky of you. This is even worse than ixcoin.

cough  cough cough didn't I mention having a fund for starting up a laundry and posting bounties ? I definitely did no less than twice in this thread.

How   does baby bounty form?

premining   !

I could premine them the ugly way, and burden the network with a crapton of Fund Blocks, or I could do it the economic way and waste only one block on the affair.

Lolcust exactly how many premined GG coins do you have?

My current budget is 7769999 in bounty + laundry superfund, and a couple hundreds I couldn't send a guy because his address seems broken.

At the rate we have been generating these blocks it would take 93 days just to mine 7,000,000 GG.

That seems like an awfully long head start on bounty coins (over 3 months time at current rates).[/b]

Don't forget that I intend to sink no less than four (maybe more) mils into my Laundry Buffer, to never ever be spent (and provide a service to the community, yay!)


 

[coblee]

Here's your first post. Now explain how you can conveniently "forget" to mention this important thing about 7 million pre-mined coins.
I mean I'm ok with pre-mined used to benefit a coin with bounties and the laundry idea. And 7 million might be a bit excessive. But not mentioning it before you got people to mine your coin is unacceptable.

UTC 7:13 9.9.2011

-- [Critical] update 13/11, please download new version (if you like the "crutches" pseudo-GUI, download the "crutches" version since pseudo-gui was updated too) or update from Github--

--If not updating via downloading the new "crutches", don't forget to update both .exe and .conf !--

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?

Coming soon

Give me windows binaries!

Ok, here. (no GUI, and do investigate Multicoin to learn how to run this properly)

  http://www.mediafire.com/?2ymc9tito0mbj2l

However, for those who are extra-unhappy with GUI-less soft, a makeshift solution has been constructed from opensource portable console and a bunch of batch files.
   http://www.mediafire.com/?g8i4lx4qjf6phie  (<- recommended for windows users)
It's not pretty (at all), but it runs on windows out of the box. Includes configs and everything.

Any 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! LINKS CHANGED! CRITICAL UPDATE ! DON'T FORGET TO DELETE PREVIOUS DATABASE FILES, THEY ARE NOW INVALID ![/url]=====

[Lolcust]

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

a wonderful laundry service that guarantees 100% squeaky clean GeistGeld (mined, no history attached)

Eh ?

I thought long and hard about the 7 mil figure.

If I was making a coin that has "max amount" and isn't churned out at a rate of 7 units every 15 seconds, it would have been excessive.

Given lack of deflationary anticipation in GG (and upper limit that borders on astronomical), if anything, I'm afraid that I pre-mined too little to allow my (planned) laundry serve a large order of bitcoins (via abovementioned scheme), should such arrive.

[Cosbycoin]

Here's your first post. Now explain how you can conveniently "forget" to mention this important thing about 7 million pre-mined coins.
I mean I'm ok with pre-mined used to benefit a coin with bounties and the laundry idea. And 7 million might be a bit excessive. But not mentioning it before you got people to mine your coin is unacceptable.

Good point. Where did you say anything about 7 million premined coins?

You just said "bounties".

As I indicated it will take the network at least 93 days to generate 7million coins.

You think 3 months head-start is more than enough time to get things in place?

But i'm not trying to troll I'm just wanting answers like coblee.

[Cosbycoin]

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

a wonderful laundry service that guarantees 100% squeaky clean GeistGeld (mined, no history attached)

Eh ?

I suggest you create a set of board members who will hold each an equal amount of those 7 million for bounties so that there is accountability.

Say you had like 10 people with each 700,000 GG and they were reputable in the community. I think users of GG would be more apt to want to put trust in this project.

[coblee]

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

a wonderful laundry service that guarantees 100% squeaky clean GeistGeld (mined, no history attached)

Eh ?

So instead of being open and telling people about your 7 mil pre-mined coins, you expect people to deduce that you mined some coins by the fact that you said "bounty" and using "100% squeaky clean" coins. Well, bounty coins can be mined after the coin has been published. And 100% squeaky clean coins can be mined afterwards for your laundry also. It doesn't necessarily mean you had to pre-mine them. But that's besides the point. You purposely did not mention that you pre-mined 7 million coins because you knew people would not mine your coins if you did that. Tell me that's not true.

I don't doubt that you have good intentions with those 7 mil pre-mined coins. But hiding information is not a good way to go about it and it definitely hurt the trust people have in you and your coins now.

[Cosbycoin]

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

a wonderful laundry service that guarantees 100% squeaky clean GeistGeld (mined, no history attached)

Eh ?

So instead of being open and telling people about your 7 mil pre-mined coins, you expect people to deduce that you mined some coins by the fact that you said "bounty" and using "100% squeaky clean" coins. Well, bounty coins can be mined after the coin has been published. And 100% squeaky clean coins can be mined afterwards for your laundry also. It doesn't necessarily mean you had to pre-mine them. But that's besides the point. You purposely did not mention that you pre-mined 7 million coins because you knew people would not mine your coins if you did that. Tell me that's not true.

I don't doubt that you have good intentions with those 7 mil pre-mined coins. But hiding information is not a good way to go about it and it definitely hurt the trust people have in you and your coins now.

+1 Agreed. Lolcust needs to setup a circle of trust with community members to hold those 7,000,000 coins in a decentralized manner.

I trust him but what's to say that he gets pissed off like coinhunter and decides to do something rash?

[Lolcust]

Here's your first post. Now explain how you can conveniently "forget" to mention this important thing about 7 million pre-mined coins.
I mean I'm ok with pre-mined used to benefit a coin with bounties and the laundry idea. And 7 million might be a bit excessive. But not mentioning it before you got people to mine your coin is unacceptable.

Good point. Where did you say anything about 7 million premined coins?

I admit I am mildly avoidant of the issue due to it being hotbutton for a lot of folks, though, to be honest, Ixcoin did that in a much less elegant and much more burdening way, with far less innovation and net benefit to community (I'm not counting the "I made 500 bucks on Ixcoin, lol" kind of benefit), and it's not like it's dead as a result or something

As I indicated it will take the network at least 93 days to generate 7million coins.

You think 3 months head-start is more than enough time to get things in place?

I -hope- to have the laundry running in 2-3 month, but so far I'm on the lookout for devs (especially ones who want a Geist bounty)

So to be fair, it would be best if you compared bounty+faucet+small stuff fund of approx 2+ mil with the net performance, not including the 4 mils I intend to "forever bind" in a Laundry.

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

a wonderful laundry service that guarantees 100% squeaky clean GeistGeld (mined, no history attached)

Eh ?

I suggest you create a set of board members who will hold each an equal amount of those 7 million for bounties so that there is accountability.

Say you had like 10 people with each 700,000 GG and they were reputable in the community. I think users of GG would be more apt to want to put trust in this project.

That would be an awesome thing to do, but it would require a system of public accountability not yet in place (But I do intend to take a stab at placing a bounty on Bitcoin Contracts implementation for Geist, though I somewhat doubt there will be takers)

It also raises issues of how does this thing manage the Lolcust Laundry which, I must admit, is an idea I am very attached to (because I always dreamed to launder large sums of moneys, lol  )

Currently, accountability is trivially managed by watching blockchain as to whether I am trying to sell off a large chunk of superfund, trivially done as soon as geist gets an online explorer.

A complex structure with 10 people would be far harder to monitor, and in the end due to ephemeral nature of all cryptocurrency, just as questionable in terms of accountability.

Also, consider this:
Unless Geist explodes in popularity to Tamagochiesque proportions, there is no chance in hell of ever selling off even 1 000 000 geists in "a chunk"

The whole point of Superfund was that the biggest part will end up "bound" forever while a smaller part will slowly trickle to people willing to contribute time and effort to bettering Geist (and other chains, since everything is gonna be open-source, even the Laundry code, *yes bitcoin laundry, I am looking at you * )
 

[Lolcust]

[
So instead of being open and telling people about your 7 mil pre-mined coins, you expect people to deduce that you mined some coins by the fact that you said "bounty" and using "100% squeaky clean" coins. Well, bounty coins can be mined after the coin has been published.

Um, so far, this approach has not even been tested, let alone demonstrated.

Besides, I think that somewhere later on I said I was "giving away everything except the Laundry and Bounty fund".

You purposely did not mention that you pre-mined 7 million coins because you knew people would not mine your coins if you did that. Tell me that's not true.

Not so much "wouldn't mine" (everyone and his dog can plainly see that the only use millions of Geists could have is 1) Binding them in a huge laundry 2) slowly, very slowly spending them, with a solid chunk being spent on the project itself (so that the utility, and thus price, of the remaining Geists would rise) but "would start a 10 page long discussion about how to best manage the Fund and how large a buffer does Lolcust Laundry need to server an order of laundering 500 000 bitcoins through GeistGeld instead of addressing technical issues which are of far greater importance.

People mined IxCoin after all, and I don't remember ixCoin dude setting up a Really Huge laundry (or even intending to do so), or even bothering to pre-mine his rations in a manner that places minimum burden on the chain, thus I don't expect people to run away screaming because of Fund.

I do expect it to be a potent flame vector, though.

I don't doubt that you have good intentions with those 7 mil pre-mined coins. But hiding information is not a good way to go about it and it definitely hurt the trust people have in you and your coins now.

I wasn't explicitly hiding it though - in fact, relevant commands can be found in the config in plaintext, and given how every-single-coin (except namecoin maybe?) premined, I honestly did not expect people to even entertain but a single doubt that I did premine.

[Lolcust]

+1 Agreed. Lolcust needs to setup a circle of trust with community members to hold those 7,000,000 coins in a decentralized manner.

As soon as Geist gets Contract code, I will seek out a way to manage the bounty + faucet (-beer +vodka + hookers +cigar ) part via an open, publicly accountable decentralized management system it presents.

Managing the Laundry Buffer in such a manner seems... problematic (and I am attached to the idea of starting a "squeaky clean laundry that can help cleaning any coins as long as they can be converted to Geist and Back")

I trust him but what's to say that he gets pissed off like coinhunter and decides to do something rash?

Um, print out the part of the blockchain that "contains" the Superfund and wrap it around my genitals, screaming "behold the mighty lolopenis!!!" ?

What exactly can you do with 4-7 mil of any neo-coin except use them as a buffer in a laundry-like system or veeeryyyy slooooowwwwlllyyyyyy spend them (and again, the wisest spending is that on project itself, since it makes the remaining coins increase in functionality and perceived value) ?

There is no chance in hell of selling-off even a fraction of that in one go, and if you have to sell them sloooowwwwwlllllyyyyy (veeeeryyyyy) you may as well start slowly spending them to convince people to contribute useful code (increasing the value of whatever remains and benefiting the community at large due to the whole open-source thingie )

So you are starting a formal money laundering scheme?

Depends on whether your jurisdiction recognizes "digital coinsis" as money.

Mine would beat me to the death for having this conversation, so I may as well start "laundering" abstract mathematical constructs.

You pre-mined with NO effort involved 7 mil coins and the community is to just trust your word on what you are using it for?

Due to the size of Superfund, it has virtually no other use.

You are promoting attacks on your system that you actually want users to adopt... so they can feel more secure in their financial/time investments..?

Errrr... now I lost ya.

Where did I "promote" an "attack" on Geist ?  

You are planning new features that you can't develop on your own and the only hope is to bounty with a coin that currently has no value?

I do contemplate investing some USD into it, but there aren't much USD I can throw at a coin without facing Dire Secondary Consequences

I also hope that some people will just implement stuff into Geist because they've got this cool idea nobody (especially not Lolcust) ever thought about, but yes, I do intend to post large bounties on Geist features (stuff such as thin clients and blockchain optimizations that later could be ported to other chains) in hopes that some devs will consider it worth a stab.

[MaGNeT]

We can all keep track of the 7,000,000 coins and I guess that Lolcust knows his coin is history if he rips us off.

I give him and his coin a chance. It's experimental and he did something with advice from ArtForz and other people.
So he is not another "CH", in my opinion.

Do we all agree to give GeistGeld a chance, at least?

[Lolcust]

Seems to be a promotion of attacking a live system to me....  I certainly wouldn't thank Artforz or BTCExpress for attacking a live system you actually want people to invest time and resources into, they can test things offline and still provide fixes for you.

Difference between "thanks for attacking" and "thanks for fixing it up"

[CosicMiner]

Got a little creative and made this!
Applying for artwork bounty lol