[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[hero18688]

Is octocoin in any way associated with Octagon and The Passion Shift?
http://www.wnct.com/story/24916288/octagon-launches-the-passion-shift-at-sxsw

Good or bad?

[ozie]

http://www.tmz.com/person/octomom/

 

I can assure you this crack whore is in no way related to the project.

[lametom]

What part of the world are the developers from?

[OctoCoin]

What part of the world are the developers from?

The majority of us are located in the US. In addition to the core team, we have investors from Austin, TX and Macau. We all came together last year at SXSW 2013 and discussed teaming up for a crypto-related project to launch at SXSW 2014 - we are mere hours away from achieving that goal. The OctoCoin theme is the brainchild of our Macau investor and it's significance will be apparent throughout our suite of cryptocurrency services.

The capital we have raised is going toward the various crypto services we are developing for OctoCoin - however, many of them may not remain exclusive to OctoCoin once proved successful. The ones that are will be labeled, quite simply, "OctoCoin Exclusive"

[passionsurf]

i hope that zero gravity doesn't mean KGW at launch

+1, kgw is a way to screw up a launch

[OctoCoin]

i hope that zero gravity doesn't mean KGW at launch

+1, kgw is a way to screw up a launch

Just in case we haven't already cleared this up, we are not using KGW.

[mfread]

For those who are not familiar with KGW (Kimoto Gravity Well - invented for Megacoin) then this article http://cryptofrenzy.wordpress.com/2014/02/09/multipools-vs-gravity-well/ might help.

Also read this article regarding 42Coin and plans to implement KGW and/or PoS etc ((and why) https://bitcointalk.org/index.php?topic=500968

I don't understand why people here are happy that 888 isn't using KGW given it's effectiveness against multi-pool mining when the 2 articles above both state KGW is a good thing.

Would someone like to explain?

Cheers,
Mark

[sammy007]

For those who are not familiar with KGW (Kimoto Gravity Well - invented for Megacoin) then this article http://cryptofrenzy.wordpress.com/2014/02/09/multipools-vs-gravity-well/ might help.

Also read this article regarding 42Coin and plans to implement KGW and/or PoS etc ((and why) https://bitcointalk.org/index.php?topic=500968

I don't understand why people here are happy that 888 isn't using KGW given it's effectiveness against multi-pool mining when the 2 articles above both state KGW is a good thing.

Would someone like to explain?

Cheers,
Mark

People wanna instamine a lot of coins, dump this coins ASAP and forget about it. This is altcoins lifecycle.

[mfread]

@sammy007, your less-than-intelligible statement doesn't provide me with any insight beyond what is known today by miners. I'm seeking an articulate discussion/answer to my question re: KGW.

@MCCPool, thank you for your explanation. So in summary a new coin shouldn't launch with KGW enabled, but enable it at a later date, when the coin is listed on one or more exchanges *and* there is evidence of multipooling.

Hmmm, I fail to see why a coin couldn't/shouldn't launch with KGW enabled from the get-go. Does it have some sort of inherently large overhead that isn't good for coin launches but is good when multipools interfere? I'll see if I can find more info from other forums.

[CryptoLogo]

888EXCHANGE

https://xnigma.com/markets/view/66

[sammy007]

888EXCHANGE

https://xnigma.com/markets/view/66

All these exchanges are so pathetic... Expect buy order at 1 satoshi and 1,2 coins volume there. It's destructive for new coins.

[sammy007]

@sammy007, your less-than-intelligible statement doesn't provide me with any insight beyond what is known today by miners. I'm seeking an articulate discussion/answer to my question re: KGW.

Your question was "I don't understand why people here are happy that 888 isn't using KGW"

I answered a question.

[djslick]

888EXCHANGE

https://xnigma.com/markets/view/66

All these exchanges are so pathetic... Expect buy order at 1 satoshi and 1,2 coins volume there. It's destructive for new coins.

I SECOND THIS.

no new coin should be allowed on any exchange for at least a few days after launch, day-1 exchange mean day-1 dumpers, all the time, everytime.

pretty excited for this coin though, i gotta say, i'm expecting the unexpected.

[OctoCoin]

@sammy007, your less-than-intelligible statement doesn't provide me with any insight beyond what is known today by miners. I'm seeking an articulate discussion/answer to my question re: KGW.

@MCCPool, thank you for your explanation. So in summary a new coin shouldn't launch with KGW enabled, but enable it at a later date, when the coin is listed on one or more exchanges *and* there is evidence of multipooling.

Hmmm, I fail to see why a coin couldn't/shouldn't launch with KGW enabled from the get-go. Does it have some sort of inherently large overhead that isn't good for coin launches but is good when multipools interfere? I'll see if I can find more info from other forums.

We are quite familiar with the KGW. While OctoCoin doesn't use KGW, it will adapt quite well to swings in network speed. Difficulty is re-targeted every 10 blocks using a 40 block sample with .25 damping. Max difficulty adjustment is +/- 8.8% - if multipools are hammering OctoCoin, it will compensate fairly rapidly. Typically, even an increase of 8.8% is enough to bounce the multipool elsewhere - including OctoCoin in multipools likely wouldn't even be worth the lost shares. If you haven't noticed, your actual returns at multipools aren't as good as advertised - there is an element of inefficiency involved.

People seem far too concerned about the difficulty formula - if the need arises to make adjustments down the road, we will certainly address that need. We are confident the current formula is an excellent launch formula, however. It will keep any significant insta-mining at bay while still giving the early miners an edge for the first few hundred blocks.

Although we built the difficulty formula using an algorithm to calculate the best possible balance in popularity, there is obviously no way to please everybody. Regardless, OctoCoin's secret sauce isn't in the difficulty formula of the coin - it will be the professional services that make it a cryptocurrency like you have never seen before. It's time the doubters realize just how powerful and useful this technology is and the only way to do that is to build secure, quality services around these currencies. However, it all starts with the coin. All existing currencies seem to be in various states of unraveling and we wanted to ensure a fresh start to set OctoCoin apart from the field.

[mfread]

@OctoCoin. Thank you.

As a relative newbie to crypto currency I don't profess to know the ins and outs but am certainly learning as time goes by. I do understand the essence of your logic and am appreciative that your organisation is making a real attempt at providing something more concrete than just a coin. If crypto-currencies are to succeed where fiat money has failed (the people), there needs to be a solid framework and a nurtured eco-system. Unfortunately this eco-system needs digital coins, and at present this is a bit of a teething issue in an otherwise excellent 'new-currency' vision.

I for one sincerely appreciate and applaud your efforts. I have a history of building tech start-ups and truly understand the difficulties and challenges in your undertaking.

If I can help please don't hesitate to PM me.

[danilic]

sooo..


any news?? this coin is launching in 9 hours, and no activity from devs or any community?

What does this coin represent? What are the plans for the future? Who is it backed by? Who is on the team?

Marketing 101 guys this is when you should be building the HYPE, not last minute coding! Get all over twitter, IRC, bitcointalk, answer, post, assure... be productive..

Your website looks great, the logo looks great, the code is stock standard, there is an appeal to the chinese market, but your marketing sucks!

[oxgroth]

Anxiety creates interest, its enought to create hype

[sq]

Yeah no marketing isnt good...

[danilic]

Anxiety creates interest, its enought to create hype

No, anxiety causes doubt!

Octocoin is competing with 365coin tomorrow - launching at the exact same time!

Their marketing is just as BAD, so this should be taken as an opportunity to get competitive advantage and steal the market share!

Again, Marketing 101 - first perceptions are the strongest! What does it tell you when a coin, 9 hours out of launch has only 4 pages of comments?

Also, mind you, just realised this is a PRE-ANN thread...so no technical info about the coin at ALL.


IM not trying to be an ass, just sayin 9 hours out, there is still time to ramp this up and grab marketshare from 365coin!

[danilic]

https://octocoin.org/images/octocoin_logo_200x200.png
Welcome to Bee OctoCoin mining pool

http://bee-oct.daan.lt

1. Pool fee is 0.5%
2. Payment type PROP

Pre-registrations are open

Your port number is 33339???

Is it 3333 or 3339??

MPOS makes it too easy these days..