Octacoin - [OCTA] - The 8-Bit CoinLaunch delayed/nonexistent while awaiting your inputOctacoin is a cryptocurrency, forked from Litecoin, made in commemoration of the 8-bit era. We (the creators: a group of friends and me) created this cryptocurrency because we really like the games of the 8-bit era, and we don't think that we're alone. We don't want that era to die, so we've made this cryptocurrency to keep it alive.
Specifications- Total coins: ~20.28 billion
- Block time: 90 seconds (1.5 minutes)
- Difficulty retarget: Every block using Kimoto Gravity Well
- Block reward: 25,000
- Block reward halves every 400,000 blocks (417 days / 1.14 years)
- After ~8 years, block reward drops from ~391 to 300 instead of halving. It then decreases by 50 every 400k blocks instead of halving
- After ~15 years, block reward halves from 50 to 25 instead of decreasing by 50
- After ~16 years, block reward decreases to 8. After this last 400k block interval (6 million blocks total), reward reaches 0
Why Octacoin?The 8-bit era was a time when games were measured by gameplay quality instead of graphical quality. This cryptocurrency, in line with our main goal of keeping the 8-bit memory alive, will be mine-able for ~16 years. Instead of early adopters having a large advantage and late adopters having nothing, early adopters will have a large advantage and late adopters will still have a chance. To implement this feature, we modified the block schedule. Instead of an exponentially decaying block reward throughout, Octacoin uses an exponentially decaying block reward only until the 8th year. After that, a linear decrease in the block reward occurs. In the two final block reward intervals, the reward drops according to our design (see Block Schedule below); mining ends after about 16 years. We hope this highlights our belief that anyone, despite their age, can enjoy the 8-bit era.
Block ScheduleNote that values here are rounded to the nearest whole number. Each interval lasts approx. 416.67 days
Premine?Nope.
FAQ/CriticismWhat is 8-bit?The 8-bit era was a time when everything was wonderfully pixelated. It lives on today with emulators that allow people to play its games on PC.
I love 8-bit! How can I get involved?First of all, please tell us. We can't actually know that this applies to you, it's just a FAQ.
If you share our values, the best things you can do to help are written here in list form:
- Spread the word: You can make memes if you'd like, we know that Octacoin is ripe for them. *Please don't do anything unless we're sure we'll launch.*
- Offer to help: If you have an idea, send us a private message.
- Donate: If you want to help in a more financial manner, there's a BTC address at the end of this post. This option is mostly for lazy 8-bit fans who want to help but don't want to pursue the above options, and for almost-disturbingly-passionate 8-bit fans (you're among friends) who have already done one of the above options.
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We've taken the liberty of criticizing ourselves for you. Some important points are included in this FAQ.
Isn't this just a clone?Yes and no. Mostly the former, but the latter as well. Octacoin differentiates itself primarily through its purpose and goals. (Admittedly, the same could be said for most cryptocurrencies.) We don't expect Octacoin to be used when buying coffee on your way to work. Octacoin does offer a more fair block reward curve than many, and we hope that this encourages users.
Are you sure there's no premine?No premine. We know that premining is a divisive topic. We're fine with taking any risk involved.
The 8-bit era is terrible! All those pixels are unbearable!We commend you for your rhyming criticism. Nevertheless, we disagree.
Scam?We understand that you have no reason to trust us. That's why there's no premine. As for donations, don't send anything if you don't want to. Ultimately, we'll take the tried and true route to earning trust: Through our actions.
The logo is...it could be better.We made it using a limited palette to represent 8-bit. We're open to suggestions. If you like pixel art, we'd like to see you're design.
Development/DonateWe've had a lot of fun making this cryptocurrency! However, we are aware of the oversaturated altcoin market. We've decided that we won't launch this cryptocurrency unless we know that someone out there
wants us to. We realize that we may be suffering from groupthink, and that the 8-bit memory is dead. If you think this is a good idea, please tell us in the comments or via private message. If you'd like to ridicule us, please do so in the comments or via private message.
NOTICEWe're prepared to abort launch altogether if nobody wants this coin on the market! We want the idea to survive, and if this isn't the best medium we
will not launch.
As there is no premine, we have no fund for promotion/development/etc. If you'd like to donate (BTC only until/if we launch), please send to the following address:
1octa1QmQACABPPcpADFjGS4HM5cfdwAs
