[PRE-ANN][HVC] Heavycoin - Ultra-secure, Decentralized Block Reward Voting, Fast

[Revelations86]

It's still March 2nd here for me... I didn't realize this was going off a different time zone, but anyways good look to al those that got into the IPO.

[loicatraile]

so this was a very big IPO... is it actually profitable... i mean.. when heavycoins hit the exchanges it will have a value less than what you got on ipo or not?

[rhui]

Great! I have marked the launch day for mining on my calender 

[keccak512]

so this was a very big IPO... is it actually profitable... i mean.. when heavycoins hit the exchanges it will have a value less than what you got on ipo or not?

IPO investors have set a solid base price for Heavycoin, so let's see where it goes from there.  The block reward (ie. rate of minting) will have a big impact, but that will be determined by decentralized block reward voting.  Every miner will have a different strategy and it's going to be very interesting to see what happens!

[cryptomind]

Pre register for mining at one of the pools that will be open and ready when coin launches.

Ex: http://heavycoinpool.com

Testing of nee MPOS fork starts this week. Voting features will be included.

[doge94]

http://heavy.stablehash.com/

Pre-Register for the FIRST pool!

Voting will be enabled on launch.

[organofcorti]

@ keccak512 You might have missed this with all the IPO action, but I'm still intrigued as to how you solved this problem:

@keccak512

Can you provide more information on the retargeting method? If I missed a discussion of it already, can you post a link?

Some overview here: http://heavycoin.github.io/about.html

• Block time: 2 Min
• Retarget up: Every 5 blocks (max 100%)
• Retarget down: Every block (max 200%)

The retargeting algorithm uses two windows: a life window (4 hours) and a difficulty window (30 blocks).  The life window is calculated with network-adjusted time, while the difficulty window is calculated in the number of blocks.  The algorithm looks back over the life window and adjusts the difficulty based on the blocks in the difficulty window.  If fewer than 30 blocks are found in the life window, then special action is taken.  The large life window combined with a limit on the max network-adjusted time offset for accepted blocks protects against adversaries.

Thank you.

A while back I came up with something similar: reduce difficulty to 90% of the previous difficulty for each hour in which a block is not solved, which allows a maximum of 92% reduction in difficulty per 24 hours. At the time I was told this wouldn't work because of the difficulty in determining what the current time actually is.

How did you overcome that? Are you just using the median client time?

[Jonesd]

Final IPO price = 0.00003348 BTC per HVC.

Don't you dare sell under 0.001 HVC/BTC!!!   

That means the market cap for the total distributed coin would be 63.000 or 128.000 BTC. This is somewhere around the 7th to the 4th place on coinmarketcap. OF course the total amount will not be available immediately, so maybe there would be 10% after six months. Then it would be around place 60 to 30. I think that would be a pretty healthy valuation for now.

[ldr77]

keccak512 & nomisugi:
Is there a CPU coin with a similar mining method to heavycoin?
I've never mined before and I want to test mine a similar CPU coin so i'm ready when heavycoin launches.

[voldemort628]

so how many btc was invested during the ipo?
as I can see that there are a lot of confusions about the exact number of btc received.

[instacalm]

so how many btc was invested during the ipo?
as I can see that there are a lot of confusions about the exact number of btc received.

http://heavycoin.github.io/ipo-calculator.html => 173.84775614 BTC

For procedure 1 investors keccak512/nomisugi will make an official public announcement soon. It will include investment amounts and the corresponding public key.  One will need to check these and confirm back that they are correct.  

[tinus42]

The final price is 0.00003477 BTC based on the 173.84775614 total. If it goes to 0.001 then IPO investors would have made a 2876% ROI.

[nivancevic]

ID: c412c5fd94330ad9413de27cc42603a88a6290e89f77f8021a119a3c6b2c23a1
0.229 BTC

Could you confirm this IPO payment?

[keccak512]

@keccak512

Can you provide more information on the retargeting method? If I missed a discussion of it already, can you post a link?

Some overview here: http://heavycoin.github.io/about.html

• Block time: 2 Min
• Retarget up: Every 5 blocks (max 100%)
• Retarget down: Every block (max 200%)

The retargeting algorithm uses two windows: a life window (4 hours) and a difficulty window (30 blocks).  The life window is calculated with network-adjusted time, while the difficulty window is calculated in the number of blocks.  The algorithm looks back over the life window and adjusts the difficulty based on the blocks in the difficulty window.  If fewer than 30 blocks are found in the life window, then special action is taken.  The large life window combined with a limit on the max network-adjusted time offset for accepted blocks protects against adversaries.

Thank you.

A while back I came up with something similar: reduce difficulty to 90% of the previous difficulty for each hour in which a block is not solved, which allows a maximum of 92% reduction in difficulty per 24 hours. At the time I was told this wouldn't work because of the difficulty in determining what the current time actually is.

How did you overcome that? Are you just using the median client time?

Thanks for your question and sorry I missed your reply yesterday.  As you guessed, it was quite a busy day and will be another one today.  We don't try to solve the "actual time" issue.  Instead we rely on what is accepted by the block chain and act very conservatively about when to start decreasing the difficulty.  We know that if a block has been accepted, then its timestamp is greater than the median timestamp of previous 11 blocks, and less than the network-adjusted time + 2 hours.  This bound is safe (wrt. network adjusted time differences) for determining when to accept blocks (otherwise Bitcoin would not be functioning), so it can also be used for determining when blocks are missing, if used carefully.   To account for network-adjusted time differences, we act very conservatively by requiring many blocks to be missing over a large time window before any action is taken.  This allows the network sufficient time to form a consensus that blocks are not being found and agree on the new difficulty.

[keccak512]

ID: c412c5fd94330ad9413de27cc42603a88a6290e89f77f8021a119a3c6b2c23a1
0.229 BTC

Could you confirm this IPO payment?

You are confirmed.  #167 here http://heavycoin.github.io/ipo-calculator.html

Thanks for joining the Heavycoin IPO!

We are working on the final list now and will be in contact with many via PM.

[organofcorti]

@keccak512

Can you provide more information on the retargeting method? If I missed a discussion of it already, can you post a link?

Some overview here: http://heavycoin.github.io/about.html

• Block time: 2 Min
• Retarget up: Every 5 blocks (max 100%)
• Retarget down: Every block (max 200%)

The retargeting algorithm uses two windows: a life window (4 hours) and a difficulty window (30 blocks).  The life window is calculated with network-adjusted time, while the difficulty window is calculated in the number of blocks.  The algorithm looks back over the life window and adjusts the difficulty based on the blocks in the difficulty window.  If fewer than 30 blocks are found in the life window, then special action is taken.  The large life window combined with a limit on the max network-adjusted time offset for accepted blocks protects against adversaries.

Thank you.

A while back I came up with something similar: reduce difficulty to 90% of the previous difficulty for each hour in which a block is not solved, which allows a maximum of 92% reduction in difficulty per 24 hours. At the time I was told this wouldn't work because of the difficulty in determining what the current time actually is.

How did you overcome that? Are you just using the median client time?

Thanks for your question and sorry I missed your reply yesterday.  As you guessed, it was quite a busy day and will be another one today.  We don't try to solve the "actual time" issue.  Instead we rely on what is accepted by the block chain and act very conservatively about when to start decreasing the difficulty.  We know that if a block has been accepted, then its timestamp is greater than the median timestamp of previous 11 blocks, and less than the network-adjusted time + 2 hours.  This bound is safe (wrt. network adjusted time differences) for determining when to accept blocks (otherwise Bitcoin would not be functioning), so it can also be used for determining when blocks are missing, if used carefully.   To account for network-adjusted time differences, we act very conservatively by requiring many blocks to be missing over a large time window before any action is taken.  This allows the network sufficient time to form a consensus that blocks are not being found and agree on the new difficulty.

Thanks for taking the time to satisfy my curiosity. I have a few more questions about your bounds and suggestions for making them quite safe and reliable, but that can wait until you're more settled.

[keccak512]

...
Thanks for taking the time to satisfy my curiosity. I have a few more questions about your bounds and suggestions for making them quite safe and reliable, but that can wait until you're more settled.

No problem and thanks!  We'll be happy to hear your suggestions.  We will get in touch once we are settled, but feel free to PM us anytime.

[derBruchpilotPro]

Really interesting coin!
Sadly I'm too late for the IPO...  


There is often a argument against CPU-only: Botnets

Are there any ideas to prevent that?

EDIT: that question wasn't meat to spread FUD

[Jonesd]

Really interesting coin!
Sadly I'm too late for the IPO...  


There is often a argument against CPU-only: Botnets

Are there any ideas to prevent that?

EDIT: that question wasn't meat to spread FUD

This was asked earlier as well and I think there is not a lot you can do about that. In a sense a botnet is like a person with a giant miner. Those nets don't come cheap, so basically like competing with pools. The criminal paid for those bots, so will not dump for low amount.

[jdh015232]

Really interesting coin!
Sadly I'm too late for the IPO...  


There is often a argument against CPU-only: Botnets

Are there any ideas to prevent that?

EDIT: that question wasn't meat to spread FUD

This was asked earlier as well and I think there is not a lot you can do about that. In a sense a botnet is like a person with a giant miner. Those nets don't come cheap, so basically like competing with pools. The criminal paid for those bots, so will not dump for low amount.

except botnets are hackers using unwilling computers so its just free money for them, ya lets promote that that sounds good