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soundposition
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June 13, 2014, 11:50:27 AM |
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Hopefully some more liquidity comes in. Looks slow so far. Holding thumbs.  The problem comes back to what the FUNK is useful for. If you can't use it for anything, people won't want to buy it. If you don't have a reason to want it, why would anyone else? Right now the only thing it can be used for is to tip musicians (which practically no one is doing), but afterwards the FUNK just sits in a musicians wallet. Of course we could exchange our FUNK for BTC and then it would be useful (because people accept BTC), but again that's only if people wanted FUNK for some reason (and were willing to trade their precious BTC). We need a no-brainer incentive for people to use FUNK coin, like the ability to buy products/services/concert tickets either exclusively in FUNK or at a discount. Basically we need a monetary incentive to use the FUNK. The US dollar *had* power because everyone's country was required to accept US dollars only for Oil. That is why it has enjoyed reserve status for as long as military enforcement was capable of applying the schtick. The problem with that approach (rule by fear) is that you must keep applying the stick, whereas if you apply love people will WANT to help you. That is where Cypherfunks comes in, the currency should benefit everyone that uses it. An example for a concert ticket sale: Concert ticket: $14.00 in FUNK coin $14.00 BTC Price $20.00 for Fiat You save $6 when you buy with FUNK/BTC. It's a no brainer! Let's get some small concerts/festivals going (20-200 people), and sell tickets in FUNK or BTC. We can accept fiat too, but people will get a discount for using crypto! Remember, concerts are social events where people are together F2F. Concerts are not experiences that can be pirated, copied, or sold (except as a video) which isn't the same as being there. |
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simondlr (OP)
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June 16, 2014, 03:38:05 PM |
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Hopefully some more liquidity comes in. Looks slow so far. Holding thumbs. The problem comes back to what the FUNK is useful for. If you can't use it for anything, people won't want to buy it. If you don't have a reason to want it, why would anyone else? Right now the only thing it can be used for is to tip musicians (which practically no one is doing), but afterwards the FUNK just sits in a musicians wallet. Of course we could exchange our FUNK for BTC and then it would be useful (because people accept BTC), but again that's only if people wanted FUNK for some reason (and were willing to trade their precious BTC). We need a no-brainer incentive for people to use FUNK coin, like the ability to buy products/services/concert tickets either exclusively in FUNK or at a discount. Basically we need a monetary incentive to use the FUNK. The US dollar *had* power because everyone's country was required to accept US dollars only for Oil. That is why it has enjoyed reserve status for as long as military enforcement was capable of applying the schtick. The problem with that approach (rule by fear) is that you must keep applying the stick, whereas if you apply love people will WANT to help you. That is where Cypherfunks comes in, the currency should benefit everyone that uses it. An example for a concert ticket sale: Concert ticket: $14.00 in FUNK coin $14.00 BTC Price $20.00 for Fiat You save $6 when you buy with FUNK/BTC. It's a no brainer! Let's get some small concerts/festivals going (20-200 people), and sell tickets in FUNK or BTC. We can accept fiat too, but people will get a discount for using crypto! Remember, concerts are social events where people are together F2F. Concerts are not experiences that can be pirated, copied, or sold (except as a video) which isn't the same as being there. Yep. Agreed. This will be the best way to start making it useful! Let's brainstorm on this one Friday. And let's get more people in the hangout this time. Friday. June 20. 5pm GMT+2! |
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soundposition
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June 18, 2014, 11:26:54 AM |
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Thanks Simon. You are too kind! Expect more to come soon, as soon as it's finished. I'm also looking forward to the next virtual 'band meeting'! |
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simondlr (OP)
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June 18, 2014, 12:18:38 PM |
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I moved the 2 of the seed nodes over to digital ocean. Works out cheaper than aws. So I'll be able to host them for a much longer time now. Thanks again for that donation jwinterm! Our hashrate has been declining slowly. Something I've been considering is merge-mining. I want some input on this. Neuromode is a member of the Myriadcoin community (a coin I really like due its multi-algo approach). And he is a part of The Cypherfunks. They have a merge-mined multipool on its way. https://docs.google.com/document/d/1R78lUtwnVB9o0CZpYnxWDSyZP-adgfcN4yfu1PM8jzQ/editSo I've thought about including FUNK in that setup. We hard-fork so that we can accept merge-mined scrypt blocks and then officially become a part of the myriad merge-mined multipool. Another consideration I want to add is that merge-mined blocks have smaller rewards. 75% of the total. This means merge-mined blocks (if possible, have to make sure), only give 75% of the reward. This means we can improve security of the chain from merge-mining AS well as give incentives for FUNK miners who specifically want to mine only FUNK. Thoughts? |
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simondlr (OP)
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June 18, 2014, 01:00:38 PM |
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soundposition
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June 18, 2014, 01:15:32 PM |
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I moved the 2 of the seed nodes over to digital ocean. Works out cheaper than aws. So I'll be able to host them for a much longer time now. Thanks again for that donation jwinterm! Our hashrate has been declining slowly. Something I've been considering is merge-mining. I want some input on this. Neuromode is a member of the Myriadcoin community (a coin I really like due its multi-algo approach). And he is a part of The Cypherfunks. They have a merge-mined multipool on its way. https://docs.google.com/document/d/1R78lUtwnVB9o0CZpYnxWDSyZP-adgfcN4yfu1PM8jzQ/editSo I've thought about including FUNK in that setup. We hard-fork so that we can accept merge-mined scrypt blocks and then officially become a part of the myriad merge-mined multipool. Another consideration I want to add is that merge-mined blocks have smaller rewards. 75% of the total. This means merge-mined blocks (if possible, have to make sure), only give 75% of the reward. This means we can improve security of the chain from merge-mining AS well as give incentives for FUNK miners who specifically want to mine only FUNK. Thoughts? Would that make the FUNK dependent on the existence of Myriadcoin? |
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jwinterm
Legendary
 Offline
Activity: 3066
Merit: 1115
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June 18, 2014, 01:27:12 PM |
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I moved the 2 of the seed nodes over to digital ocean. Works out cheaper than aws. So I'll be able to host them for a much longer time now. Thanks again for that donation jwinterm! Our hashrate has been declining slowly. Something I've been considering is merge-mining. I want some input on this. Neuromode is a member of the Myriadcoin community (a coin I really like due its multi-algo approach). And he is a part of The Cypherfunks. They have a merge-mined multipool on its way. https://docs.google.com/document/d/1R78lUtwnVB9o0CZpYnxWDSyZP-adgfcN4yfu1PM8jzQ/editSo I've thought about including FUNK in that setup. We hard-fork so that we can accept merge-mined scrypt blocks and then officially become a part of the myriad merge-mined multipool. Another consideration I want to add is that merge-mined blocks have smaller rewards. 75% of the total. This means merge-mined blocks (if possible, have to make sure), only give 75% of the reward. This means we can improve security of the chain from merge-mining AS well as give incentives for FUNK miners who specifically want to mine only FUNK. Thoughts? Would that make the FUNK dependent on the existence of Myriadcoin? I don't think so, I think once if we fork it will just be merge-mineable with any scrypt coin. I'm not seeing the bit about only 75% reward for merge-miners though, so I'm not to sure tbh... |
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simondlr (OP)
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June 18, 2014, 03:07:11 PM |
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I moved the 2 of the seed nodes over to digital ocean. Works out cheaper than aws. So I'll be able to host them for a much longer time now. Thanks again for that donation jwinterm! Our hashrate has been declining slowly. Something I've been considering is merge-mining. I want some input on this. Neuromode is a member of the Myriadcoin community (a coin I really like due its multi-algo approach). And he is a part of The Cypherfunks. They have a merge-mined multipool on its way. https://docs.google.com/document/d/1R78lUtwnVB9o0CZpYnxWDSyZP-adgfcN4yfu1PM8jzQ/editSo I've thought about including FUNK in that setup. We hard-fork so that we can accept merge-mined scrypt blocks and then officially become a part of the myriad merge-mined multipool. Another consideration I want to add is that merge-mined blocks have smaller rewards. 75% of the total. This means merge-mined blocks (if possible, have to make sure), only give 75% of the reward. This means we can improve security of the chain from merge-mining AS well as give incentives for FUNK miners who specifically want to mine only FUNK. Thoughts? Would that make the FUNK dependent on the existence of Myriadcoin? Nope. Any scrypt miner mining another coin can send their shares to FUNK if they have it set up properly. Usually, the problem with merged-mined coins is that incentives to ONLY mine a merge-minable coin is always less because you can mine a parent coin and use the same resources to also secure the child coin. So once FUNK accepts merge-mined blocks, people usually adopt a parent they want (in scrypt case, Litecoin or Dogecoin) and send their shares to any merged-chain if they want to. For example, with Namecoin, almost no-one ONLY mines Namecoin. Almost all rigs are set up to mine Bitcoin and send shares to Namecoin as well. If the reward is set so that merge-mined blocks are less than ONLY mining FUNK, then it provides incentives for both. In other words, the chain rewards are higher if mined specifically, increasing its independence. This is always the case. You don't require parent chains, but the incentives are such that it doesn't make to mine only a child chain, as you can get double the reward if you mine a parent + child chain. So merge-miners can help secure FUNK (keep the hashrate up) and receive 75% of block rewards. If people ONLY want to mine FUNK they get 100% of the reward, keeping that incentives. Spoke to n00bnoxious about smaller rewards. It seems theoretically possible, and I'm going to check up on the practicality of it. |
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simondlr (OP)
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June 19, 2014, 05:47:16 PM |
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Who is mining atm?
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simondlr (OP)
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June 20, 2014, 09:39:21 AM |
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Remember the hangout at 5pm GMT+2. 5h20 from now! |
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soundposition
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June 20, 2014, 11:49:21 AM |
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Remember the hangout at 5pm GMT+2. 5h20 from now! I'll be there. I haven't forgotten, but thanks for the reminder. Same tinychat link? Care to repost? |
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jwinterm
Legendary
Offline
Activity: 3066
Merit: 1115
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June 20, 2014, 12:13:52 PM |
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Remember the hangout at 5pm GMT+2. 5h20 from now! I'll be there. I haven't forgotten, but thanks for the reminder. Same tinychat link? Care to repost? yeow, please repost |
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simondlr (OP)
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June 20, 2014, 01:38:26 PM |
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Remember the hangout at 5pm GMT+2. 5h20 from now! I'll be there. I haven't forgotten, but thanks for the reminder. Same tinychat link? Care to repost? yeow, please repost We'll just create a new one close to the time. I'll post here and on the irc channel. |
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soundposition
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June 20, 2014, 02:50:12 PM |
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Who is mining atm?
I'm mining Funk. |
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soundposition
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June 20, 2014, 02:58:29 PM |
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Remember the hangout at 5pm GMT+2. 5h20 from now! I'll be there. I haven't forgotten, but thanks for the reminder. Same tinychat link? Care to repost? yeow, please repost We'll just create a new one close to the time. I'll post here and on the irc channel. Now would probably be a good time to post the link? |
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simondlr (OP)
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June 20, 2014, 02:58:54 PM |
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Who is mining atm?
I'm mining Funk. Oh cool. There was something I wanted to check out yesterday, but it seemed like it wasn't a problem. Here's the tinychat: http://tinychat.com/7opu6h |
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soundposition
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June 20, 2014, 03:43:38 PM |
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Fun chat (except for the tinychat issues!
How are you liking the PWYM classes Simon?
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simondlr (OP)
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June 20, 2014, 03:47:00 PM |
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Thanks for the chat soundposition & jwinterm! The PWYM classes? I'm doing the same I did with the previous PWYM course... completely neglect it. Psssh. How are you finding it? For those who want to know. We spoke about doing a concert. Soundposition is going to try and do one where he is. And I'm going to see what I can do on my side. Secondly, a player WITH tipping could work awesomely. We'll look into that as well. Perhaps in the wallet, but I think web will be easier. Thirdly, we spoke about the myriad merge mining. I think if merge mining can be made "safe": ie merge-mined blocks have lower rewards, there is no reason not to do it? Finally, we talked again about SoundCloud tipping. Here's my idea on how it could work. It's a tad work-around & spammy, but it seems to be possible. Might get banned from SoundCloud if it gets overboard. You message the Cypherfunk-bot the song you want to tip. The Cypherfunk-bot comments on the song. You then reply to the Cypherfunk-bot: "+tip 1M FUNK", and it gets sent to the account the song is on. And the rest works like any other tip-bot. You authenticate with the account and voila. Access to funds. Except the only way to notify the user of funds/deposits etc you can't do because of the fact that you can't message through the API. Also. I need to finish the Android wallet. I just have to finish reskinning it! Was there something else? Oh yeah. We plan to do this more often. Every 2 - 3 weeks. |
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