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Author Topic: [ANNOUNCE] Tenebrix, a CPU-friendly, GPU-hostile cryptocurrency  (Read 104691 times)
Spacy
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September 29, 2011, 09:05:24 AM
 #261

Spacy=>smellsFish=>postsAssumption

Fixed it for you Smiley
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Lolcust
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September 29, 2011, 09:12:27 AM
 #262

Spacy=>smellsFish=>postsAssumption

Fixed it for you Smiley

You forgot a space between <ass> and <umption> Smiley

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September 29, 2011, 09:39:34 AM
 #263

Yes, the TBX generation will be infinite, but still doesn't warrant premining 7.7 million coins and keeping them for yourself, because simply having such stash of coins may demotivate people from mining and essentially make this fork die before it becomes three years old. However, since what has been done is done, you should just put up the suggested poll and see what should be done.

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racerguy
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September 29, 2011, 09:42:05 AM
 #264

let me make this really simple:
two options:
#1  - One guy with 7.7 million coins who promises in anonymous net forum not to sell the coin and be a really good guy wile rest of the community only has a tiny fraction of total the coins. 
#2  - hundreds of adopters (early miners) with coins who like to see it succeeded and last for a long time because they have invested time and resources. 

Let me see now...
1 guy with 7.7 million coin or strong community with 7.7 million coins... 




i've changed my mind on this, it's not 1 guy with 7million coins, it's a currency with an equivilent 3 year money supply for a laundry to facilitate anonymous transactions (one of bitcoins possible weaknesses).  If this laundry is used as a laundry it will actually add value to the currency, and i've become convinced Locust is serious about this laundry, well convinced enough to gamble what i've mined so far on it.  

That said I would still like to see a faucet with 1-2mil in it for non early adaopters, distributing it to the early miners seems entirely pointless to me(and i'm an early miner).
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September 29, 2011, 09:46:07 AM
 #265

Yes, the TBX generation will be infinite, but still doesn't warrant premining 7.7 million coins and keeping them for yourself, because simply having such stash of coins may demotivate people from mining

How so, if I don't sell ?

Does the DeBeers diamond megastash demotivate people from mining and refining diamonds to make a profit ?

Do the goldbugs somehow demotivate gold-producing companies by their massive bullion hoards ?

No sense, that claim makes.

But I am, like I said, willing to move a portion of the fund out of my control and into a full-auto community-beneficial project, just to alleviate some of the distaste.

However, since what has been done is done, you should just put up the suggested poll and see what should be done.

The problem with poll is that it is, by design, abusable by people who strongly dislike Tenebrix (for deploying a CPU-friendly Cryptothing with a premined fuckton before they deployed their CPU-friendly cryptothing with premined fuckton and honest to god racket built in ~__^)

I am still thinking about how to best go about it.

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September 29, 2011, 10:31:46 AM
 #266

The problem with poll is that it is, by design, abusable by people who strongly dislike Tenebrix (for deploying a CPU-friendly Cryptothing with a premined fuckton before they deployed their CPU-friendly cryptothing with premined fuckton and honest to god racket built in ~__^)

I am still thinking about how to best go about it.
It's still better than one person deciding everything.

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Lolcust
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September 29, 2011, 10:34:58 AM
 #267

The problem with poll is that it is, by design, abusable by people who strongly dislike Tenebrix (for deploying a CPU-friendly Cryptothing with a premined fuckton before they deployed their CPU-friendly cryptothing with premined fuckton and honest to god racket built in ~__^)

I am still thinking about how to best go about it.
It's still better than one person deciding everything.

"Everything" is a huge overstatement. Also, I doubt that a weak poll is necessarily better.

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September 29, 2011, 10:40:38 AM
 #268

That's still ~97% of all the brix existing at the moment, so I don't think it's a huge overstatement.

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September 29, 2011, 10:42:36 AM
 #269

That's still ~97% of all the brix existing at the moment, so I don't think it's a huge overstatement.

Again. Diamonds. DeBeers.

Owners of mega-stashes have no interest in selling off because their stashes aren't just "big", they are MEGA.

Besides, I need most of those moneys for the laundry buffer, not for hookers & blow (and I need a smaller portion of those money to hire better programmers than myself, and pay bounties to exchanges and such)

I am perfectly okay with reducing my stash in a manner that will benefit late-adopters (faucet) and reduces the amount of distaste people have for the fund (since it will be, in effect, smaller), but methinks that destroying superfund completely is a mite questionable, due to system opportunity loss.

Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse Wink

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racerguy
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September 29, 2011, 10:51:53 AM
 #270

That's still ~97% of all the brix existing at the moment, so I don't think it's a huge overstatement.

the coins never enter the market, or they do by taking used coins off the market.  The laundry is tenebrix's 'killerapp', it's what sets it apart from the other coins.
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September 29, 2011, 10:58:44 AM
 #271

That's still ~97% of all the brix existing at the moment, so I don't think it's a huge overstatement.

the coins never enter the market, or they do by taking used coins off the market.  The laundry is tenebrix's 'killerapp', it's what sets it apart from the other coins.

Exactimundo!

Also, the "non laundry" part ensures there is a "coder reward reserve" for quick response to issues, and allows me to give them exchange people "liquidity bounty" they demand (do note that I always work with the exchange that asks for smallest one)

You know what, I've got a Linux daemon to fix so we can have a pool, a faucet and an exchange.

I will donate 1.5 mils[EDITED: scratch that, let it be 2 mils] to the faucet so that my stash is no longer obnoxiously big and doesn't rub the eye of SEMH folks and "sport competitive" people so much.

I hope that kills the premining crab.

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Matoking
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September 29, 2011, 11:07:31 AM
 #272

Okay, I'll believe you for now.

It's just that one person owning a huge stash of TBX may be dangerous, not only because it reeks of centralization which goes against the principle of the Bitcoin and all the related forks, but because if that person were to lose his TBX somehow, that would be 7,700,000 TBX gone for good. I would suggest at least to spread them around a bit, so it wouldn't be one person with a huge stash of TBX, but few people with relatively huge stashes of TBX. (think, mining pool, faucet, misc. funding, et cetera.)

And not "later", but soon. Preferably now.

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Lolcust
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September 29, 2011, 11:14:17 AM
 #273

Okay, I'll believe you for now.

Thanks.

Also, you may take a look at my other baby (it has blockexplorer and exchange, Geist Geld is the name) and observe a distinct lack of "lolcust scurries to sell off"
It's just that one person owning a huge stash of TBX may be dangerous, not only because it reeks of centralization which goes against the principle of the Bitcoin and all the related forks, but because if that person were to lose his TBX somehow, that would be 7,700,000 TBX gone for good.

Well, it does have a whiff of centralization to it, but so do blockchain lockins.

If I accidentally destroy the encrypted thumbie I hold that wallet on, it will not cause the market to collapse since coins destroyed != coins sold. But that would of course impact my ability to run a laundry and hire coders Wink So I keep it really, really safe Smiley

I would suggest at least to spread them around a bit, so it wouldn't be one person with a huge stash of TBX, but few people with relatively huge stashes of TBX. (think, mining pool, faucet, misc. funding, et cetera.)

1) Faucet is decided upon, as above

2) Paying them coderz counts as spreading around, methinks

3) Paying "bounties" to exchanges and services also counts as spreading around I hope.

I could start a twitter campaign to increase the spreading, but that reeks of spam, and I don't like that at all

Preferably now is limited by my relatively humble capacity at fixin' up linux makefiles. Worry not, I have already called for backup.

Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse Wink

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September 29, 2011, 12:05:12 PM
 #274

You keep saying that you're going to hire coders with the premined coins, but that you're also going to keep them off the market.  Both of these statements cannot be true.  I will continue to mine, because I was too late to the Bitcoin party and I think it's neat to watch a solo miner work, but ultimately, until you destroy the coins you're running a very real risk of seeing this in the near future...

[ANNOUNCE] Tenebrix2, a CPU-friendly, GPU-hostile cryptocurrecy with no premined coins

Your chain would die within 48 hours.
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September 29, 2011, 12:08:25 PM
 #275

You keep saying that you're going to hire coders with the premined coins, but that you're also going to keep them off the market.

Which part of "part is for coders and project-usefull stuffs, but the biggest part will be confined to a laundry buffer forever" do you find confusing ?

[ANNOUNCE] Tenebrix2, a CPU-friendly, GPU-hostile cryptocurrecy with no premined coins

Honestly, the name with 2 is lame. Ten0brix is funnier.

Your chain would die within 48 hours.


I can sort of relate to the distaste premining causes in some people (hence my agreement to voluntarily part with a solid chunk of Superfund and stuff it in an automatic dispenser for late adopters), but the "premining kills" argument simply does not correspond to what can be plainly seen.

Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse Wink

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September 29, 2011, 02:28:08 PM
 #276

The difference between diamonds and TBX is that DeBeers owns a ton of diamonds and the vast majority of diamond production.  It's owning production and setting the supply that lets them crank the price way up.
They could crash the market, but they can also withhold their diamonds and drive prices up.  It's not a good comparison to a massive premined coin stash unless you can raise the difficulty hugely on a whim.

Premined coins can crash the market, but they cannot drive the price up.

Plus who knows, if DeBeers burnt half a million pounds of diamonds maybe the price would skyrocket.

Right now TBX have no value, so paying out a bunch of coins from the premined pile isn't going to lower their value!

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September 29, 2011, 02:57:34 PM
 #277

I finally got it to mine Smiley , I think I deserve a bounty for being the most persistent Smiley

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September 29, 2011, 02:59:54 PM
 #278

Mined about 825 TBX with my Q6600 now. I do like the concept of CPU-friendly mining algorithm.

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September 29, 2011, 03:08:17 PM
 #279

It is CPU friendly, my GPU is only having less than 1/2 the hashes of my CPU.  Interesting!
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September 29, 2011, 03:12:21 PM
 #280

i've changed my mind on this, it's not 1 guy with 7million coins, it's a currency with an equivilent 3 year money supply for a laundry to facilitate anonymous transactions (one of bitcoins possible weaknesses).  If this laundry is used as a laundry it will actually add value to the currency, and i've become convinced Locust is serious about this laundry, well convinced enough to gamble what i've mined so far on it.  

That said I would still like to see a faucet with 1-2mil in it for non early adaopters, distributing it to the early miners seems entirely pointless to me(and i'm an early miner).

+1

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