The Cypherfunks[FUNK]: a coin for a global band! Talking v2. Join! 80+ songs

[soundposition]

Here's an interesting experiment

1000000000 FUNK = 20110 DOGE (according to https://www.cryptonator.com/)

20110 DOGE = 4.27 USD

So, 1 Billion Funk is worth 4.27.

[vaudvaud]

Here's an interesting experiment

1000000000 FUNK = 20110 DOGE (according to https://www.cryptonator.com/)

20110 DOGE = 4.27 USD

So, 1 Billion Funk is worth 4.27.

$4.27?  That it! I'm firing up all my other miners, and buying an KNC Titan.. to the moon!   

I'm actually surprised it had any volume over there, no matter how small it was.

[vaudvaud]

Got my P2Pool node back up and running the other day... Turned out my VPS provider changed DCs and thus all their IP addresses. Would have been nice to have an "URGENT" email rather than just a standard "routine maintenance" one, but ho hum.

Also mostly got the kinks in the CPU algo worked out, just fiddling about a bit to make sure it's nice and secure. Considering another change to it as there's no rush this very moment. Realistically it can be one of the last things added to the new coin - implemented shortly before the new genesis blocks are mined.

AWESOME ideas for future musical concepts though I must say - very much in line with how I see things progressing once we sink our teeth in properly!

As far as the miner goes, is it going to be built into the wallet (mine direct from it while the wallet is open), a new stand alone cpu miner, or a plug in for an existing miner program?

[MadGhost]

Here's an interesting experiment

1000000000 FUNK = 20110 DOGE (according to https://www.cryptonator.com/)

20110 DOGE = 4.27 USD

So, 1 Billion Funk is worth 4.27.

that is what needed to check the price of the coin.

[n00bnoxious]

As far as the miner goes, is it going to be built into the wallet (mine direct from it while the wallet is open), a new stand alone cpu miner, or a plug in for an existing miner program?

Not certain yet. I've been working on making cpuminer hash the current algo, but have put it on hold until I've decided on its final form. Last thing I want to do is release something that's insecure.

[neuroMode]

You got it guys

[simondlr]

https://soundcloud.com/soundposition/the-cypherfunks-love-tonight

Nice job! Who is the vocalist?

I'm doing some more coding today!

[groggin]

 i think n00bnoxious mentioned this b4 - interesting read on PoSV

http://www.reddcoin.com/papers/PoSV.pdf

[MadCow]

Hey, Good to see you guys are still moving forward. I think you're willingness to re-examine the economics of this coin is very encouraging.

I made a few suggestions back in April about community/complementary/local currencies & considering an option of creating a 'fund' through burning FUNK into another coin that would give you the ability to actually pay the people contributing the music, rather than relying on the goodwill of the end user to pay in FUNK (rather than any of a number of other currencies & crypto coins). Maybe you could review those suggestions again.

IMO unless there is a clear linkage between the FUNK currency & the Cypherfunk music you've really got two separate projects, when what you really want is a complete decentralised music ecosystem with inbuilt incentives that promotes supply & demand for music paid for in FUNK.

Maybe look at what some NXT guys are planning to do with their digital goods store - https://nxtforum.org/digital-goods-store/bands-and-music/

In their case the linkage between the music and the currency is clear, you will HAVE to pay for the music with NXT currency.

You guys need to create the same 'compulsion' effect in your ecosystem - the only way to pay for Cypherfunk music is using FUNK.

Without that 'requirement' the consumer has no clear incentive to get their hands on any FUNK. If you devise a system where paying in FUNK2 is compulsory, either through a centralised funding body (that was one of my suggestions in April), or by using a decentralised tech solution like the NXT guys are building, then you instantly create demand for FUNK2 which is proportional to the demand for Cypherfunk music.

Either way, without some compulsion in the Cypherfunk/FUNK ecosystem that forces people to pay for the music with FUNK I think it'll be hard to get FUNK2 off the ground.

If FUNK2 is partially PoS then maybe keep a big chunk for the central fund that pays the musicians for the uploads, and let the consumers download free, or force them to pay FUNK2 through your distribution channel. If that's too centralised for your community, then you need a decentralised tech solution like the NXT guys.

Anyway, I love the music, and wish you well

[simondlr]

Hey MadCow. Nice to see you pop in again.

Yes. All you said is true. That will hopefully come in v3 (once we solve the rest of the problems). If that means that v2 might fail, then that's an experiment I'm willing to try.

Sorry, been really busy guys! But I have been hacking on the new version!

[vaudvaud]

Any updates?  I had to pull my miners for the Syscoin launch, but it looks like a few others are still around..

[soundposition]

It seems SoundCloud may be noticing artists asking why they aren't getting paid.

http://www.factmag.com/2014/08/21/soundcloud-to-introduce-adverts-signs-deals-with-major-publishers/

I've been working on new music, and SoundCloud gave me another hour of time to upload for free. I'll share them as soon as their finished.

[simondlr]

It seems SoundCloud may be noticing artists asking why they aren't getting paid.

http://www.factmag.com/2014/08/21/soundcloud-to-introduce-adverts-signs-deals-with-major-publishers/

I've been working on new music, and SoundCloud gave me another hour of time to upload for free. I'll share them as soon as their finished.

Sweet!

Hey Vaudvaud (& others). Past few weeks have been quite all over the show and haven't found time to work on the PoS coin. I'm also a tad scared that even we do PoS it will go the same route. But hey, let's try.

[soundposition]

Hi Simon, thanks for the tweet! I think Soundcloud must have noticed us, or maybe musicians became inspired by what we were doing, and decided to put the pressure on Soundcloud. At least that's what it looks like.

Where's n00bnoxious? What's he up to??

Let's talk about what concern you have that the PoS coin will go the way of the PoW coin?

[simondlr]

Hi Simon, thanks for the tweet! I think Soundcloud must have noticed us, or maybe musicians became inspired by what we were doing, and decided to put the pressure on Soundcloud. At least that's what it looks like.

Where's n00bnoxious? What's he up to??

Let's talk about what concern you have that the PoS coin will go the way of the PoW coin?

n00bnoxious is around here somewhere.

A PoS coin will have much better economics, but will it be enough for people to buy, hold & use? I don't know. But I'm more than willing to try.

[groggin]

      

A PoS coin will have much better economics

 hmm. why?

  i was all over PoS coins when i first started mining, since at the time my only gpu had a max i/0 of 88 khps. Grain, Tesla, Mint, Diamond, ... Balckcoin did for me the best, with it's 1% stake

as a miner i have to say maintaining many PoS coins is a pain in the ass, if you want the max you need compounding, means running the wallets regularly, they consume resources that add up! i find i'm maxed out w/4-6 wallets running at any given time on a p00tr w/3 cores @2.8 ghz and 8 gB RAM. (well, it's doing other things too)

 though it's fun watching your balances grow, are you really gaining anything? since everyone else holding the coin has the same benefit, increasing the coin supply, diminishing it's value.

also interesting, if we abandon FUNK-I, mightn't it rise again on it's own?

now, how could a pair of coins work together ...  FUNK-I seems so perfect for micro-pays

                                            

[edit] how about this: new wallet has de-centralised chat, exchange, e-mail, (tor?) and a one click invite a friend?

[simondlr]

     

A PoS coin will have much better economics

 hmm. why?

  i was all over PoS coins when i first started mining, since at the time my only gpu had a max i/0 of 88 khps. Grain, Tesla, Mint, Diamond, ... Balckcoin did for me the best, with it's 1% stake

as a miner i have to say maintaining many PoS coins is a pain in the ass, if you want the max you need compounding, means running the wallets regularly, they consume resources that add up! i find i'm maxed out w/4-6 wallets running at any given time on a p00tr w/3 cores @2.8 ghz and 8 gB RAM. (well, it's doing other things too)

 though it's fun watching your balances grow, are you really gaining anything? since everyone else holding the coin has the same benefit, increasing the coin supply, diminishing it's value.

also interesting, if we abandon FUNK-I, mightn't it rise again on it's own?

now, how could a pair of coins work together ...  FUNK-I seems so perfect for micro-pays

                                            

[edit] how about this: new wallet has de-centralised chat, exchange, e-mail, (tor?) and a one click invite a friend?

Good points Groggin. Which is why I've been thinking perhaps as another option, porting FUNK over to a colored coin [Counterparty or Dogeparty asset]. It means, there is no requirement for maintenance. The current stakeholders get their fair share. Counterparty has a built-in decentralized exchange. You can then also run Bitcoin/XFK alongside each other [one address can take both payments].

You can also issue dividends to holders of XFK. A friend told me recently he wants to donate to The Cypherfunks, but finds it laborious to each time go and find tipping addresses. Instead, you simply issue a 1btc dividend each week (as an example), which will automatically "tip" all holders of XFK.

It also means we (more specifically me), don't have to spend so much time on maintaining and keeping the wallet/coin code up to date. Dev time can be spent building actual services [like a Cypherfunk player with tipping addresses, etc]

[simondlr]

So. What do you guys think about burning it to a coloured coin instead [on counterparty/dogeparty]? Any thoughts?

I could rewrite the v2 doc and explain what benefits a coloured coin has? So we can discuss it?

I see hashrate + buy support have increased lately, which is great! [at this rate we can maybe even stick to what we have. ]

[groggin]

  i am interested in learning more @C & Dparty, i've been looking that way last couple of weeks but in all honesty i'm still trying to figure out what's going on in there, but the idea of an open exchange is revolutionary and i think it's gonna change the world.
 
  idk, but recent activity might be attributed to announcements made here?

another thought:  an online wallet? make it easy for ppl to get started

[jwinterm]

So. What do you guys think about burning it to a coloured coin instead [on counterparty/dogeparty]? Any thoughts?

I could rewrite the v2 doc and explain what benefits a coloured coin has? So we can discuss it?

I see hashrate + buy support have increased lately, which is great! [at this rate we can maybe even stick to what we have. ]

Hey Simon,
My thoughts would be that if the coin is going to stay a scrypt PoW coin, then it should probably fork to include auxpow so we can merge mine with doge, peseta, and ltc or even myriad. I just checked, and network hash is up a bit, but still only 4 Mh/s, which at this point amounts to about $100 of scrypt asic hardware (or less). If it's going to stay PoW, maybe even consider forking to multi-algo, so each algo could be merge mined with myriad. (I'm mining myriad, in case you couldn't tell )

I'm not a huge fan of the asset stuff (or even PoS), but if you want to put together the v2 doc I'd be glad to help proof/critique it. I just feel like if there are no more coins/tokens being created, it's hard to get new people interested.