[ANN] BITCOIN LE - NEW COIN - Ecological Bitcoin - PoW & Low Energy

[Admkng5]

The wallet is not syncronized.

[OpalHunter]

I don't understand the purpose of creating this new bitcoin
Will this be evaluated and stated?
if it's easier(Bitcoin LE) to get, then it will be cheaper?
Explain your purpose of creating

Hi ivsem

How easy depends on the difficulty really and not how much energy you spend to get it.
What matters is how much energy is used to process a pack of txs.
Once a coin gets old enough, miners will get their reward mostly via tx fees, so there will be a barrier for low tx fees, because miners need to pay electricity. Therefore people sending coins will pay for that electricity indirectly as fees. So, yes there is a point in having such a coin: waste less energy to produce the same result and enable cheaper txs (all this enabled by a traditional PoW based consensus).

[israelps]

Reserved spanish translation, confirm please

[OpalHunter]

The wallet is not syncronized.

Admkng5, many people are mining. Hope that you have able to fix your issues. If you need help, just ask the guys in discord.

Thanks!

[AlanMilano]

BLE Not the fork of BTC. Directly creating a new coin based on the original of the BTC, seems to be a good idea.
I will test BLE extraction with separate CPUs and GPUs with both AMD and Nvidia miners, to see how much energy it can save.
Hope this project will live and develop well, wait and see ...

[springwind]

I don't understand the purpose of creating this new bitcoin
Will this be evaluated and stated?
if it's easier(Bitcoin LE) to get, then it will be cheaper?
Explain your purpose of creating

Hi ivsem

How easy depends on the difficulty really and not how much energy you spend to get it.
What matters is how much energy is used to process a pack of txs.
Once a coin gets old enough, miners will get their reward mostly via tx fees, so there will be a barrier for low tx fees, because miners need to pay electricity. Therefore people sending coins will pay for that electricity indirectly as fees. So, yes there is a point in having such a coin: waste less energy to produce the same result and enable cheaper txs (all this enabled by a traditional PoW based consensus).

There is nothing innovative in this. There is already a fork of bitcoin, in which there is a POS mining function (Bitcoin God). It's much more economical. Why is Bitcoin LE better Bitcoin God?

[Goldtalk]

New and different [Suspicious link removed]d work dev

[dkbit98]

Next thing I expect to see is someone like Roger Ver creating
fork of this coin called Bitcoin Le Cash  

True vision for Le cash

[OpalHunter]

I don't understand the purpose of creating this new bitcoin
Will this be evaluated and stated?
if it's easier(Bitcoin LE) to get, then it will be cheaper?
Explain your purpose of creating

Hi ivsem

How easy depends on the difficulty really and not how much energy you spend to get it.
What matters is how much energy is used to process a pack of txs.
Once a coin gets old enough, miners will get their reward mostly via tx fees, so there will be a barrier for low tx fees, because miners need to pay electricity. Therefore people sending coins will pay for that electricity indirectly as fees. So, yes there is a point in having such a coin: waste less energy to produce the same result and enable cheaper txs (all this enabled by a traditional PoW based consensus).

There is nothing innovative in this. There is already a fork of bitcoin, in which there is a POS mining function (Bitcoin God). It's much more economical. Why is Bitcoin LE better Bitcoin God?

springwind,

You said it yourself: "in which there is a POS mining function". Bitcoin LE is not PoS, it's PoW, that makes a very BIG difference

[Wolfie]

This is the most interesting and truly innovative coin I have seen all 2018.

When I read the whitepaper its easy for me to tell there is no bullshit and its written by someone with a high level of engineering related background.

https://github.com/Bitcoin-LE/bitcoinle-core/blob/master/whitepaper/README.md

If you are familiar with LECs and the PSTN maybe you have heard of Time Division Multiplexing (TDM) . . this next iteration of coinchain is loosely reminiscent of TDM in a blockchain setting.

Basically, instead of running the engines full blast to compete with each other like all other PoW coins, BitcoinLE miners all wait for a universal "green light" to start the short race, blocks are found by lucky winners, then the lap is over and all 'cars' are at the starting line again with the engine off, waiting the for next "green light" which is actually referred to as a metronome beat.

I am taking this seriously and I highly advise the same.

This is revolutionary and newsworthy, I am certain it will be published here shortly . . until then, point your CPUs at it!

@XVG_HypeMan

[Ukonka]

Russian translation reserved if you need

[OpalHunter]

This is the most interesting and truly innovative coin I have seen all 2018.

When I read the whitepaper its easy for me to tell there is no bullshit and its written by someone with a high level of engineering related background.

https://github.com/Bitcoin-LE/bitcoinle-core/blob/master/whitepaper/README.md

If you are familiar with LECs and the PSTN maybe you have heard of Time Division Multiplexing (TDM) . . this next iteration of coinchain is loosely reminiscent of TDM in a blockchain setting.

Basically, instead of running the engines full blast to compete with each other like all other PoW coins, BitcoinLE miners all wait for a universal "green light" to start the short race, blocks are found by lucky winners, then the lap is over and all 'cars' are at the starting line again with the engine off, waiting the for next "green light" which is actually referred to as a metronome beat.

I am taking this seriously and I highly advise the same.

This is revolutionary and newsworthy, I am certain it will be published here shortly . . until then, point your CPUs at it!

@XVG_HypeMan

Wow Wolfie, that is a better explanation than in the whitepaper! Good stuff!

[dkbit98]

This is the most interesting and truly innovative coin I have seen all 2018.

When I read the whitepaper its easy for me to tell there is no bullshit and its written by someone with a high level of engineering related background.

https://github.com/Bitcoin-LE/bitcoinle-core/blob/master/whitepaper/README.md

If you are familiar with LECs and the PSTN maybe you have heard of Time Division Multiplexing (TDM) . . this next iteration of coinchain is loosely reminiscent of TDM in a blockchain setting.

Basically, instead of running the engines full blast to compete with each other like all other PoW coins, BitcoinLE miners all wait for a universal "green light" to start the short race, blocks are found by lucky winners, then the lap is over and all 'cars' are at the starting line again with the engine off, waiting the for next "green light" which is actually referred to as a metronome beat.

I am taking this seriously and I highly advise the same.

This is revolutionary and newsworthy, I am certain it will be published here shortly . . until then, point your CPUs at it!

@XVG_HypeMan

Easy and superb explanation...
I would suggest that BLE developers use your words for ANN thread.

Regarding this...
how will this effect speed, or transation per second for BLE coin ?

Some comparison with other coins would be nice.
I saw this on website:
We introduced a lower block time of 6 minutes that increases transaction speed by 40% when we compare with Bitcoin.


One suggestion:
Update links on website...they are not working

[Tuanken897]

Reverse for Vietnamese translation

Hi dev
If you need Vietnamese translation, please contact me.
Looking forward to more updates from your project

[OpalHunter]

Blockchain technology provides tangible benefits for the current state of the art for mediation of payments and transaction processing.

Good to know!

[jimboscott]

Please Note:

The Bitcoin-LE chain forked at block 70,000

You must use the VERY latest version of the wallet/miner in order to ensure you are on the chain that will be supported going forward.

The latest is version 0.15.4 - https://github.com/Bitcoin-LE/bitcoinle-core/releases

Here are the steps to make this transition...

1. Back up your wallet - always
2. Delete ALL information found in your %AppData%/roaming/BitcoinLE  folder EXCEPT for wallet.dat, bitcoin.conf and banlist.dat (if you had banned any peers).  The blocks, chainstate and database folders ALL get deleted.  When done, you will have no more than three files in the %AppData%/roaming/BitcoinLE folder.  BACK UP your WALLET.DAT - but also LEAVE it in place.
3. Run bitcoinle-qt.exe and wait for the chain data to fully download.  The update windows sometimes disappears BEFORE you are fully synced.  Give it time.  I would wait a couple of minutes AFTER the updating screen disappears.
4. Once fully synced - shut the wallet down and use the new miner.

Please note that the new forked chain requires the use of this latest release.  If you want increased stability and more reliable connectivity, this is the first step to take.

Finally - DELETE all older wallet and miner versions you might have.  Just be sure to always keep a backup of your wallet.dat - that is the only irreplaceable thing you are dealing with.

Thanks...

[notblox1]

How many time forks happened ?

I think it was not just once, but several times.

Maybe better option was to first release test version before going mainnet

[Twinkledoe]

Other than trading purposes, what are the other applications for this coin? Though it's an ecological coin as you said, still, what's the strong point of this project to sustain its life in crypto.

[jimboscott]

How many time forks happened ?

I think it was not just once, but several times.

Maybe better option was to first release test version before going mainnet

In retrospect you are right, but the newness of this concept appears to have carried some unforeseen implications that would not have been present in a smaller scale test necessarily.   

This is the second intended fork, but the first really significant one.   

Nobody has tried this before that I know of.  Not as easy to get it up and running than a relabeled clone of a coin.

I would encourage you to upgrade to the new wallet and miner.  Those who do will almost certainly come out ahead on the long run as the old chain will be no longer supported and, I suspect, most who remain on it are there out of a lack of awareness.

Take care.

[jimboscott]

Other than trading purposes, what are the other applications for this coin? Though it's an ecological coin as you said, still, what's the strong point of this project to sustain its life in crypto.

I am not a tree hugger, but I think energy use is a very important thing.   That alone makes this a significant foray into the proof of a new concept that should get some attention.

Just make sure you are using version 0.15.4 to get in sync with the fork... and follow the instructions to do so...