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Author Topic: Merged mining for Ixcoin  (Read 4793 times)
Nasakioto
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October 19, 2011, 01:35:39 AM
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It appears mining on the Ixcoin blockchain has reduced significantly so I was wondering whether we should switch to merged mining like Namecoin. The hope is that more people would mine the Ixcoin chain to make it more secure. Any thoughts/advice/code/reservations appreciated.

Thomas Nasakioto - Upgrade to Ixcoin 0.3.24.3 before block 43,000
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October 19, 2011, 03:19:04 AM
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Finally.

steelhouse
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October 19, 2011, 03:23:33 AM
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I don't care about merged mining, but why not if easy.  What I would really like to see is all mining stop after block 50,000 to create the worlds 1st deflationary currency.  There is a danger if a large merged mining pool say 100 Gh decides to drop ixcoin, you might be wait 6 months to get 144 blocks.
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October 19, 2011, 03:47:56 AM
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I don't care about merged mining, but why not if easy.  What I would really like to see is all mining stop after block 50,000 to create the worlds 1st deflationary currency.  There is a danger if a large merged mining pool say 100 Gh decides to drop ixcoin, you might be wait 6 months to get 144 blocks.

Huh Stop mining?  That would stop the currency.... and make it all worthless... I don't understand what that accomplishes?

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steelhouse
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October 19, 2011, 05:45:21 AM
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Huh Stop mining?  That would stop the currency.... and make it all worthless... I don't understand what that accomplishes?

Mining offers no value to the currency.  Bitcoin at price of 5 has to come up with $1500 every hour to keep it from collapsing.  Yes, eventually it will reach 1% inflation in 15 years.  Mining makes the currency go down!  way down! 

I am running the ixcoin graphic bounty.  I would love to change the name to "The Worlds 1st Deflationary Currency" graphics ad bounty.

I think we should do anything to make the currency go up.  Maybe offer bounty for BCE to fix holes. Merged mining, end mining! or sleeping with the fed reserves daughter.

Search deflation on youtube or in the economics section.

what accomplishs this
total number of $ = M
k = constant
value of a dollar = k (M/person)
value of dollar = kM/person

If you double amount of currency, the value of the currency will halve.


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October 19, 2011, 09:56:01 AM
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Huh Stop mining?  That would stop the currency.... and make it all worthless... I don't understand what that accomplishes?

Mining offers no value to the currency.  Bitcoin at price of 5 has to come up with $1500 every hour to keep it from collapsing.  Yes, eventually it will reach 1% inflation in 15 years.  Mining makes the currency go down!  way down! 

Sadly, mining is also the sole act that allows transactions to become confirmed in the first place, and the sole thing that keeps one from double-spending.

In case you are concerned by  growth of the number of coins available on the market for purchase (a dubious concern, but I am quite tired of arguing over it with deflation crowd), what you should be looking into is introducing factors that increase irrevocable loss of coins, not decrease production (that would induce the overall number of coins available for purchase on the market to stabilize more quickly)

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October 19, 2011, 01:25:12 PM
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Huh Stop mining?  That would stop the currency.... and make it all worthless... I don't understand what that accomplishes?

Mining offers no value to the currency.  Bitcoin at price of 5 has to come up with $1500 every hour to keep it from collapsing.  Yes, eventually it will reach 1% inflation in 15 years.  Mining makes the currency go down!  way down! 

I am running the ixcoin graphic bounty.  I would love to change the name to "The Worlds 1st Deflationary Currency" graphics ad bounty.

I think we should do anything to make the currency go up.  Maybe offer bounty for BCE to fix holes. Merged mining, end mining! or sleeping with the fed reserves daughter.

Search deflation on youtube or in the economics section.

what accomplishs this
total number of $ = M
k = constant
value of a dollar = k (M/person)
value of dollar = kM/person

If you double amount of currency, the value of the currency will halve.






Somebody forgot to tell namecoin that.


Sorry Mr. Express but namecoin gets more valuable as time goes on as it requires less coins to register a domain.
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October 19, 2011, 01:29:46 PM
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I'd say the main driver of namecoin value would be US Gov and its ugly "intellectual property protecshun" initiatives Wink

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kjlimo
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October 19, 2011, 01:54:46 PM
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Huh Stop mining?  That would stop the currency.... and make it all worthless... I don't understand what that accomplishes?

Mining offers no value to the currency.  Bitcoin at price of 5 has to come up with $1500 every hour to keep it from collapsing.  Yes, eventually it will reach 1% inflation in 15 years.  Mining makes the currency go down!  way down! 

Sadly, mining is also the sole act that allows transactions to become confirmed in the first place, and the sole thing that keeps one from double-spending.

In case you are concerned by  growth of the number of coins available on the market for purchase (a dubious concern, but I am quite tired of arguing over it with deflation crowd), what you should be looking into is introducing factors that increase irrevocable loss of coins, not decrease production (that would induce the overall number of coins available for purchase on the market to stabilize more quickly)

this was my point, without computers mining.... coins can't be transacted.  It's like saying let's all invest in a set number of rocks, and then send them to the moon and never trade them... they become worthless...

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Nasakioto
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October 19, 2011, 05:26:16 PM
 #10

Did you ever get a round to fixing it against The Time Travel exploit?

Can anyone point me to a fix for in the code of other alt coins where this was fixed please? Thanks.

I still think merged mining has more potential though.

Thomas Nasakioto - Upgrade to Ixcoin 0.3.24.3 before block 43,000
Ixcoin.org
Nasakioto
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October 19, 2011, 05:29:07 PM
 #11

I don't care about merged mining, but why not if easy.  What I would really like to see is all mining stop after block 50,000 to create the worlds 1st deflationary currency. 

If we stop mining rewards without a large ecosystem of paid Ixcoin transactions, then there will be no incentive to mine.

There is a danger if a large merged mining pool say 100 Gh decides to drop ixcoin, you might be wait 6 months to get 144 blocks.

Possible, but I don't see a trivial way to prevent this.




Thomas Nasakioto - Upgrade to Ixcoin 0.3.24.3 before block 43,000
Ixcoin.org
steelhouse
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October 19, 2011, 06:39:01 PM
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Merged mining will probably get new users into ixc so it might increase interest and thus value.  Locust/BCEx eventually for most coins mining is going to cease anyways.  In 2015 mining is going to seize for ixcoin anyways.  And in 2030 all mining will cease for bitcoin.  We could cease mining, and only have transaction fees minus 10% which are destroyed.  Thus, you will get something for mining.  Why mine a worthless coin?  If there was a way to automatically mine when you open the client, thus people would keep the client open to get a tiny bits of coin that come from transactions.  Early versions of bitcoin had a miner built in, maybe set the default to mine automatically?

http://www.youtube.com/watch?v=6nJYN94m2pw
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October 19, 2011, 07:07:01 PM
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Merged mining will probably get new users into ixc so it might increase interest and thus value.  Locust/BCEx eventually for most coins mining is going to cease anyways.  In 2015 mining is going to seize for ixcoin anyways.  And in 2030 all mining will cease for bitcoin. 

Mining will not cease.

Subsidies will.

With all due respect, learn the distinction, and then we shall proceed to discuss the optimal way to build a deflationcoin

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

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steelhouse
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October 19, 2011, 09:18:43 PM
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Merged mining will probably get new users into ixc so it might increase interest and thus value.  Locust/BCEx eventually for most coins mining is going to cease anyways.  In 2015 mining is going to seize for ixcoin anyways.  And in 2030 all mining will cease for bitcoin.  

Mining will not cease.

Subsidies will.

With all due respect, learn the distinction, and then we shall proceed to discuss the optimal way to build a deflationcoin

subsidies? the added 50 25 12.5?  It will be a decade before btc becomes useful, in the meantime your puppy will die of old age.  

So would it be ok to end the 96 subsidies and allow the miners to keep the transaction fees?
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October 19, 2011, 09:38:31 PM
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If mining is required to protect the network, I think you should have mandatory mining in the client.
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October 19, 2011, 09:46:56 PM
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If mining is required to protect the network, I think you should have mandatory mining in the client.

I don't even know where to start...

That's probably worse idea than coin taxes. There, I said it. There can be worse ideas than taxing miners in favor of third party.

Also, x-flation is irrelevant as far as utility of a cc as way of transferring value tokens is concerned

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

Feed the Lolcust!
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steelhouse
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October 19, 2011, 10:09:10 PM
 #17

If mining is required to protect the network, I think you should have mandatory mining in the client.

I don't even know where to start...

That's probably worse idea than coin taxes. There, I said it. There can be worse ideas than taxing miners in favor of third party.

Also, x-flation is irrelevant as far as utility of a cc as way of transferring value tokens is concerned

In California we pay close to a 10% sales taxes.  A crypto-currency could have a 5% sales tax (transactions) and delete 100% of them.  They could also give 75% to miners and 25% to deletion.
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October 19, 2011, 10:12:22 PM
 #18

If IXCoin is back, I'll mine them again!
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October 19, 2011, 10:15:24 PM
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If mining is required to protect the network, I think you should have mandatory mining in the client.

I don't even know where to start...

That's probably worse idea than coin taxes. There, I said it. There can be worse ideas than taxing miners in favor of third party.

Also, x-flation is irrelevant as far as utility of a cc as way of transferring value tokens is concerned

In California we pay close to a 10% sales taxes.  A crypto-currency could have a 5% sales tax (transactions) and delete 100% of them.  They could also give 75% to miners and 25% to deletion.

Dear my, you gotta be trolling.
If IXCoin is back, I'll mine them again!

MINE ALL THE COINS ! Wink

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

Feed the Lolcust!
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BTC: 15F8xbgRBA1XZ4hmtdFDUasroa2A5rYg8M
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October 19, 2011, 10:26:18 PM
 #20

To stop a BitCoin network you would need to break every single BitCoin node.  - quote by SD

Would merged mining stop the time travel exploit?
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