[ANN][BEE]BeeCoin - Launched/5 EXCHANGES

[cryptohunter]

... the best way to curb difficulty is using KGW and tweaking it for the best of BEE and as far as POS is more for the holders , what I suggest is first add KGW difficulty retarget formula tweaked for BEE and then later on when BEE goes BEEing we'd go ahead with POS

Also i did see some discussion that KGW has some security issues? aurora are worried about introducing it.

CGA coin has removed KGW from their code to avoid exploits...

Orbit has PoS already implemented, if you want to take a look at their code.
Only the Orbit dev (TheRedMist) is MIA, we have recently only seen support from a hired dev Ghostlander.

KGW has not been verified totally and is on theory and sandboxed operations and not tested on a real blockchain with 100 - 1000s of wallets and miners so yah , a network is secured by the number miners mining and the support of the end users thus it is what makes the network stronger to outside attacks , KGW is simply an algorithm to curb retarget issues and multipool attacks so even if exploited will not make any drastic impacts to the coin.

POS implementation is not an issue , it's just that we need to get the priorities straighted out and discussed with the tops in the community such as Cryptohunter and John since they are the one's who know's what the community needs.

PS: Orbitcoin became an entire mess sometime back.

Regards,
Soopy

If the exploit is possible then I wound't be so sure about this.
Looking at the thread BCX started , the exploit itself would lead to far more dangerous options for the attacker.

True any exploit gives dangerous options for the attacker but then again on the same thread someone challenged BCX to exploit Mazacoin but then it's yet to be tested on a real world scenario.

But I still doubt about the exploit and yet believe in the alogrithm, it's ultimatly the community's choice in embracing the same or not , thereby I'm not trying to push anything on to the community if they don't want it , just putting it all on the table , also the Kimoto Algorithm is widely used.

And while disecting and studying the algorithm I have not been able to find flaws with it though found many on other features.

~Soopy~

If you think it is best Soopy we got with whatever plan you think best. If you take over as dev on Beecoin that would be great and you will have full control regarding the coin.

I was just wondering? does Bee not already have KGW ?  It seems to have a very strong diff adjust every block.

If you think it is best for us to wait to have POS implemented then  that is what we will do.

I am very confident the network will grow rapidly once we decide on the coins plan and implement that, because we will start a very large marketing and givewaway campaign.

Will the 2% 2% 1% block taxes be easy to code in?

It would be great my friend if you can list out everything you and the community is looking to see implemented in a list here so everyone will know what they can expect.

I'm going to start working on the taxes tonight and most probably release a new client update within a couple of hours.

~Soopy~

Hi soopy ok great - here is the plan as far as i can speak.



1. we wish to secure the block chain as best we can -

a - If you think it is too early to go with POS then we could stick with POW and KGW and continue as we are now. If POS is a possibility in the future then i guess we have no need to change the block rewards. Since POS could be implemented before block reward turns undesirable by miners.  

b- If you think starting POS now is a good idea then we leave it entirely to you to decide on what to do about the block rewards and POS rate. Because to remain at or around the 24Billion minting i have no real idea what would be the best way to do that right now - it is above my understanding of crypto - although we want to encourage people to leave wallets running and generating blocks. I think black coin which does this every 8 hours encourages you to have wallets open at all times. However since it's interest is compounded then inflation must grow rapidly as time progresses ... also does the block chain grow huge? ... Like i say i really find it hard to comprehend the full implications of different % and staking periods of POS so i'm am 100% sure you would understand the best way to do this over any of us. So if you do think the POS route is a good idea right now... then we leave it to you to decide.



2. The Block tax - We would like it to have a 5% overall block tax per block - splitting to 3 wallets .  

wallet 1 = 2% for the bee donations to green peace bee's or another big one
wallet 2 = 1% for the dev's payment for helping bee and technical advice/coding
wallet 3 = 2% for the development pot = used for projects and building services/ giveaways etc.


That would be great... if you need any further info just let me know i will be on my machine for  good few hours now.

thanks

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[GREEDYJOHN]

How can we motivate people to start mining this coin?

Why are miners still dumping this coin for peanuts? Don't people read through this forum, or are people ignorant of this forum?

[GREEDYJOHN]

... the best way to curb difficulty is using KGW and tweaking it for the best of BEE and as far as POS is more for the holders , what I suggest is first add KGW difficulty retarget formula tweaked for BEE and then later on when BEE goes BEEing we'd go ahead with POS

Also i did see some discussion that KGW has some security issues? aurora are worried about introducing it.

CGA coin has removed KGW from their code to avoid exploits...

Orbit has PoS already implemented, if you want to take a look at their code.
Only the Orbit dev (TheRedMist) is MIA, we have recently only seen support from a hired dev Ghostlander.

KGW has not been verified totally and is on theory and sandboxed operations and not tested on a real blockchain with 100 - 1000s of wallets and miners so yah , a network is secured by the number miners mining and the support of the end users thus it is what makes the network stronger to outside attacks , KGW is simply an algorithm to curb retarget issues and multipool attacks so even if exploited will not make any drastic impacts to the coin.

POS implementation is not an issue , it's just that we need to get the priorities straighted out and discussed with the tops in the community such as Cryptohunter and John since they are the one's who know's what the community needs.

PS: Orbitcoin became an entire mess sometime back.

Regards,
Soopy

If the exploit is possible then I wound't be so sure about this.
Looking at the thread BCX started , the exploit itself would lead to far more dangerous options for the attacker.

True any exploit gives dangerous options for the attacker but then again on the same thread someone challenged BCX to exploit Mazacoin but then it's yet to be tested on a real world scenario.

But I still doubt about the exploit and yet believe in the alogrithm, it's ultimatly the community's choice in embracing the same or not , thereby I'm not trying to push anything on to the community if they don't want it , just putting it all on the table , also the Kimoto Algorithm is widely used.

And while disecting and studying the algorithm I have not been able to find flaws with it though found many on other features.

~Soopy~

If you think it is best Soopy we got with whatever plan you think best. If you take over as dev on Beecoin that would be great and you will have full control regarding the coin.

I was just wondering? does Bee not already have KGW ?  It seems to have a very strong diff adjust every block.

If you think it is best for us to wait to have POS implemented then  that is what we will do.

I am very confident the network will grow rapidly once we decide on the coins plan and implement that, because we will start a very large marketing and givewaway campaign.

Will the 2% 2% 1% block taxes be easy to code in?

It would be great my friend if you can list out everything you and the community is looking to see implemented in a list here so everyone will know what they can expect.

I'm going to start working on the taxes tonight and most probably release a new client update within a couple of hours.

~Soopy~

Hi soopy ok great - here is the plan as far as i can speak.



1. we wish to secure the block chain as best we can -

a - If you think it is too early to go with POS then we could stick with POW and KGW and continue as we are now. If POS is a possibility in the future then i guess we have no need to change the block rewards. Since POS could be implemented before block reward turns undesirable by miners.  

b- If you think starting POS now is a good idea then we leave it entirely to you to decide on what to do about the block rewards and POS rate. Because to remain at or around the 24Billion minting i have no real idea what would be the best way to do that right now - it is above my understanding of crypto - although we want to encourage people to leave wallets running and generating blocks. I think black coin which does this every 8 hours encourages you to have wallets open at all times. However since it's interest is compounded then inflation must grow rapidly as time progresses ... also does the block chain grow huge? ... Like i say i really find it hard to comprehend the full implications of different rats and staking periods of POS so i'm am 100% sure you would understand the best way to do this over any of us. So if you do think the POS route is a good idea right now... then we leave it to you to decide.



2. The Block tax - We would like it to have a 5% overall block tax per block - splitting to 3 wallets .  

wallet 1 = 2% for the bee donations to green peace bee's or another big one
wallet 2 = 1% for the dev's payment for helping bee and technical advice/coding
wallet 3 = 2% for the development pot = used for projects and building services/ giveaways etc.


That would be great... if you need any further info just let me know i will be on my machine for  good few hours now.

thanks

Total coinage of 24 billion, I feel that the coin will do better if more people get involved before block reward halving.

We need to set up giveaway faucets all over the place (even if we are just giving away 100 - 200 BEES per person, once every 12 hours.

[cryptohunter]

yes i agree as soon as we get the coin design done with new source we will get all the wallets done that we need. Because a lot of people have mac too.

Then we do a BIG marketing campaign.

Before we do this though, we need to have some projects set up and give people reason not just to resell the coins we give them or else it does not really help the community.

Once the block tax is running we will also have funding for projects and things will start happening much more quickly.

Also we need soon to contact everyone on this thread that has mined beecoin. I think a lof people are still holding their bees because i see only 300M for sale, and 950M that people want to buy.

There seems not many bee's for sale compared to how many there are out there.

[GREEDYJOHN]

yes i agree as soon as we get the coin design done with new source we will get all the wallets done that we need. Because a lot of people have mac too.

Then we do a BIG marketing campaign.

Before we do this though, we need to have some projects set up and give people reason not just to resell the coins we give them or else it does not really help the community.

Once the block tax is running we will also have funding for projects and things will start happening much more quickly.

Also we need soon to contact everyone on this thread that has mined beecoin. I think a lof people are still holding their bees because i see only 300M for sale, and 950M that people want to buy.

There seems not many bee's for sale compared to how many there are out there.

That's good, the coin needs to become SCARCE, so that the price can rise.

[blockdog]

I like the logo,the bees seemed lovely.

[cryptohunter]

yes i agree as soon as we get the coin design done with new source we will get all the wallets done that we need. Because a lot of people have mac too.

Then we do a BIG marketing campaign.

Before we do this though, we need to have some projects set up and give people reason not just to resell the coins we give them or else it does not really help the community.

Once the block tax is running we will also have funding for projects and things will start happening much more quickly.

Also we need soon to contact everyone on this thread that has mined beecoin. I think a lof people are still holding their bees because i see only 300M for sale, and 950M that people want to buy.

There seems not many bee's for sale compared to how many there are out there.

That's good, the coin needs to become SCARCE, so that the price can rise.

Yes, and when the developement funds are there and people can see some nice services coming for this coin... they will hold and not sell also.

Soopy said he is working on the tax now.

I think the large marketing push and giveaways should come when people have reason to believe in bee and not just dump back on the market. Bee is a long term project .. we need to not think of it in short terms.

The good thing is beecoin is the name and community, it is even possible to turn beecoins to a totally different chain or technology in the future. Proof of ownership is all we need. Adt2 has moved to totally new chain. If in the future we want to move to a nxt  or even more advanced type technology that will be possible.

[Keyser]

Add to the list we need a block explorer or api that can track the current amount of coins in circulation.  It is needed to complete the application to coinmarketcap.

I'm curious to know what the number is now, anyone know?

[cryptohunter]

Add to the list we need a block explorer or api that can track the current amount of coins in circulation.  It is needed to complete the application to coinmarketcap.

I'm curious to know what the number is now, anyone know?

on average 100k coins per block so x about 68k blocks = 6.8 billion  so how come just 350M for sale.... people are saving up bee coins?  actually hardly anyone selling right now anyway.

[venmo]

I'm still holding. Good to see that this coin is turning around. Great time to buy. I topped up myself a couple of days ago. I will help whatever way I can.

[cryptohunter]

I'm still holding. Good to see that this coin is turning around. Great time to buy. I topped up myself a couple of days ago. I will help whatever way I can.

Yes exactly let's turn this coin around, can't have the fair ones not doing well.

[BEECoinfan]

Welcome Soopy, Thanks for coming on board to help out with BeeCoin!

Don't forget Everybody if you don't want to trade your Beecoins on the exchanges you can always trade for sapphires, opals or silver!  (new 1 oz Olympic maples added to the site) as well as silver jewellery has been marked down for this week only!

www.gems4coins.com

The only website where you can spend your beecoins on goods (for now)

[cryptohunter]

Welcome Soopy, Thanks for coming on board to help out with BeeCoin!

Don't forget Everybody if you don't want to trade your Beecoins on the exchanges you can always trade for sapphires, opals or silver!  (new 1 oz Olympic maples added to the site) as well as silver jewellery has been marked down for this week only!

www.gems4coins.com

The only website where you can spend your beecoins on goods (for now)

that's quite a nice site you  have actually, if you start selling a lot of silver rounds there..... i'll bee spending there once bee coin reaches a reasonable value

[BEECoinfan]

Welcome Soopy, Thanks for coming on board to help out with BeeCoin!

Don't forget Everybody if you don't want to trade your Beecoins on the exchanges you can always trade for sapphires, opals or silver!  (new 1 oz Olympic maples added to the site) as well as silver jewellery has been marked down for this week only!

www.gems4coins.com

The only website where you can spend your beecoins on goods (for now)

that's quite a nice site you  have actually, if you start selling a lot of silver rounds there..... i'll bee spending there once bee coin reaches a reasonable value

Thanks Crypto hunter, I will try to update it and keep some nice items through there.  Have been quite busy elsewhere, still waiting for my first sale to arrive so I get some feedback on here!  I have more to put up its just the time to do it lol!

[cryptohunter]

Welcome Soopy, Thanks for coming on board to help out with BeeCoin!

Don't forget Everybody if you don't want to trade your Beecoins on the exchanges you can always trade for sapphires, opals or silver!  (new 1 oz Olympic maples added to the site) as well as silver jewellery has been marked down for this week only!

www.gems4coins.com

The only website where you can spend your beecoins on goods (for now)

that's quite a nice site you  have actually, if you start selling a lot of silver rounds there..... i'll bee spending there once bee coin reaches a reasonable value

Thanks Crypto hunter, I will try to update it and keep some nice items through there.  Have been quite busy elsewhere, still waiting for my first sale to arrive so I get some feedback on here!  I have more to put up its just the time to do it lol!

Yeah it will take some time i think because right now it would take millions to buy something like 1oz silver round. Things will pick up when the price rises. Right now i guess there is not much point spending bee because it isn't worth much. However prices will rise as development starts

[Invisible Hands]

I see a lot of talk about exploits but no one is addressing the elephant in the room, this coin has "random" block rewards.

[cryptohunter]

I see a lot of talk about exploits but no one is addressing the elephant in the room, this coin has "random" block rewards.

You think best to move to fixed block rewards?

[Invisible Hands]

I see a lot of talk about exploits but no one is addressing the elephant in the room, this coin has "random" block rewards.

You think best to move to fixed block rewards?

"Random" block rewards are not random and this fact is exploited by large miners so that they only mine high value blocks.  This is not a theoretical exploit this is a fact.  This is why even doge moved to fixed block rewards. 

[cryptohunter]

I see a lot of talk about exploits but no one is addressing the elephant in the room, this coin has "random" block rewards.

You think best to move to fixed block rewards?

"Random" block rewards are not random and this fact is exploited by large miners so that they only mine high value blocks.  This is not a theoretical exploit this is a fact.  This is why even doge moved to fixed block rewards.  

Yes, i did hear that before. In this case fixed rewards could be better.

Glad you have come to discus since i not many people are giving input on this part.

I notice doge did not block halve until 100k blocks.... this one is going to halve after 10k...i wonder if that will work out ok or if it is too fast.

[yacare]

I see a lot of talk about exploits but no one is addressing the elephant in the room, this coin has "random" block rewards.

You think best to move to fixed block rewards?

"Random" block rewards are not random and this fact is exploited by large miners so that they only mine high value blocks.  This is not a theoretical exploit this is a fact.  This is why even doge moved to fixed block rewards.  

Yes, i did hear that before. In this case fixed rewards could be better.

Glad you have come to discus since i not many people are giving input on this part.

I notice doge did not block halve until 100k blocks.... this one is going to halve after 10k...i wonder if that will work out ok or if it is too fast.

And by the way, we may also want to consider changing the halving schedule to make it harder to mine (in a short period of time) to help preventing future massive dumps?
It seems that, at this point, most beecoins are in strong hands. So there must be no dumping from us, and if we can make it harder to mine .... will help prices to rise (in my opinion).

What do you think?

I also have an idea to drag new people, but we will need to have a defined course and a few things working before that (new thread, new source code, wallets, website...).