[ANN][MZC][SHA-256] MAZACOIN *First Sovereign Currency* ANDROID WALLET AVAIL.!!

[WalkerIVIV]

No, I'm certainly not AP - and I have posted on the thread. You'll note I'm not a big fan of AP, though I am entitled to agree with him on occasion.

Such a typical suggestion at the slightest suggestion of dissent - "you're a sockpuppet"

If you look, I've been around here a long time, and and clearly my own person. In fact, Walker, I've been around since BTC was generating a large percentage of the total money supply per day. And litecoin even more so. This is the normal process of coin production.

[edit] also...I really don't think much of the ideas of those who simply respond with "you're a moron" - I'm always up for constructive discussion and debate, but we can save the namecalling for some other place.

sry but there is a point :

BTC will be mined in 20 years
MZC in 5 years - not sure now - ( 50% first year)

[1714921319]

1714921319

[1714921319]

1714921319

[owlhooter]

And you read carefully it was example .. tell me how many % BTC is created every day? 0.001% or 0.002? MAZA is creating 1% per day ( do you understand now?!?! It´s 1000x more you moron

Here is the current creation schedule based on 5k MZC blocks with halving every 241920 blocks which is approx every 336 days rather than 365 days so we really reach the end at 11.96 years, but it's close enough to drive home the point.  The first year we see the most creation of MZC as we do with any coin, the first year gets the most creation, each subsequent year the amount drops off by half, we have to get a good amount into circulation in the first year to prompt adoption of the coin and to allow people to accept the coin and be able to adopt it cheaply (via mining or purchasing on exchanges), in subsequent years when there is less to be mined it will be pricier to enter the game.

                        Amount created            Total Circulation
1 year      1,209,600,000.00      
2 year      604,800,000.00      1,814,400,000.00
3 year      302,400,000.00      2,116,800,000.00
4 year      151,200,000.00      2,268,000,000.00
5 year      75,600,000.00      2,343,600,000.00
6 year      37,800,000.00      2,381,400,000.00
7 year      18,900,000.00      2,400,300,000.00
8 year      9,450,000.00      2,409,750,000.00
9 year      4,725,000.00      2,414,475,000.00
10 year      2,362,500.00      2,416,837,500.00
11 year      1,181,250.00      2,418,018,750.00
12 year      590,625.00              2,418,609,375.00
13 year      295,312.50              2,418,904,687.50


If we dropped the block reward to 500 it would take 14 years at 500 MZC per block to get to 2.4 billion coins without halving during that time.

[guruvan]

The voice of reason

If we can get together some PoS systems, and hopefully some video poker/keno/blackjack machines together, I'm pretty sure I can organize some gear and some crew to improve wifi infrastructure at Pine Ridge. Our team has a good deal of networking, and commercial wireless experience. (and we may be able to come up with some commercial gear donations)  I'd also be happy to start talking with some of the tribes here (especially the one opening the new casino!!)

Taking time to decide things is wise - IMO the only thing that needs immediate attention is the stability of the chain. If we can get block times to be normal (i.e. really avg block time as expected, without hundreds of blocks in a few minutes and no blocks for hours), then I think we have some time to make some decisions on exactly how to proceed best with any code changes or updates.

While auxpow (mergemining) will have the desired effect of making such opportunistic mining very difficult, if not impossible, this takes time for pool adoption. I suspect that changing the targeting algorithm is the most crucial to achieving transaction rate, and block time stability.

If there's not majority consensus on mergemining, then we should discuss it further. It's not something that will have huge instant effect upon fork.

It might be an interesting compromise to change the rate of block-reward halving, and increase the time of production in years, instead of changing the block reward. But...i'm not sure how that changes what's happened already, or the large quantity distributed already. (so I'm not sure how it helps the near term exchange rate economics). Slowing production overall may be a good thing, but must be carefully considered.

[guruvan]

No, I'm certainly not AP - and I have posted on the thread. You'll note I'm not a big fan of AP, though I am entitled to agree with him on occasion.

Such a typical suggestion at the slightest suggestion of dissent - "you're a sockpuppet"

If you look, I've been around here a long time, and and clearly my own person. In fact, Walker, I've been around since BTC was generating a large percentage of the total money supply per day. And litecoin even more so. This is the normal process of coin production.

[edit] also...I really don't think much of the ideas of those who simply respond with "you're a moron" - I'm always up for constructive discussion and debate, but we can save the namecalling for some other place.

sry but there is a point :

BTC will be mined in 20 years
MZC in 5 years - not sure now - ( 50% first year)

This is a good point here. I do tend to think that coin designers try to favor themselves as miners when they build a coin - and that does seem like the intent with mazacoin - to be able to mine as much as possible before the masses find it.

Sooooo. Yes, slowing production might be a good thing, but lets find a sensible plan, and do so with the intent to serve generations after ourselves, rather than next month's exchange rates. Those are not important. The long term success of the coin is. The long term success of the coin could dramatically change he political landscape in the US.

[SkillBonus]

Great, keep the way it is............will maybe put a buy order at 0.00000002 before it goes to 0.00000001 
miners need to be stopped mining and dumping ASAP is what's killing the coin slowly, what this coin doesn't have is time

good luck

[owlhooter]

While auxpow (mergemining) will have the desired effect of making such opportunistic mining very difficult, if not impossible, this takes time for pool adoption. I suspect that changing the targeting algorithm is the most crucial to achieving transaction rate, and block time stability.

If there's not majority consensus on mergemining, then we should discuss it further. It's not something that will have huge instant effect upon fork.

If we can talk the NOMP creator into implementing the mergedmining capability in NOMP we could probably get close to 100% to of the current pools mining Maza to then merge mine BTC with it.  This also has the added benefit to BTC in taking away some of the 50% hashing power of Ghash, provided we can get miners to choose a pool that merge mines with MZC.

[WalkerIVIV]

ufff .. once again .... marchants don´t want accept mazacoin as payment becouse contantly decreasing price & almost no buy orders ( you sell few milions and you´re at 1 satoshi)

and what is most important? mzc marchant acceptance

[guruvan]

While auxpow (mergemining) will have the desired effect of making such opportunistic mining very difficult, if not impossible, this takes time for pool adoption. I suspect that changing the targeting algorithm is the most crucial to achieving transaction rate, and block time stability.

If there's not majority consensus on mergemining, then we should discuss it further. It's not something that will have huge instant effect upon fork.

If we can talk the NOMP creator into implementing the mergedmining capability in NOMP we could probably get close to 100% to of the current pools mining Maza to then merge mine BTC with it.  This also has the added benefit to BTC in taking away some of the 50% hashing power of Ghash, provided we can get miners to choose a pool that merge mines with MZC.

I specifically asked zone117x about it, and was directed to the BountySource page for the issue. I'm down to kick in some btc to get this done. This is high on my priority list with NOMP, and would be huge for maza IMO.

It would be MOST beneficial if we could get zone117x to implement multicoin mergedmining in the stratum server, like p2pool has.

[edit] I'll also point out that github.com/fusioncoin has mergemine MPOS and stratum server - but AFAICT it can only do one coin ATM.

[boxxa]

You guys are too big on the merged mining element. It's helpful to trust but the rollout of it will be slow. NOMP doesn't support upstream pools so you won't see much purpose or migration right away.

[guruvan]

You guys are too big on the merged mining element. It's helpful to trust but the rollout of it will be slow. NOMP doesn't support upstream pools so you won't see much purpose or migration right away.

I did say it would be slow above. I also said fixing the difficulty targeting seems most important to complete right away.

[boxxa]

You guys are too big on the merged mining element. It's helpful to trust but the rollout of it will be slow. NOMP doesn't support upstream pools so you won't see much purpose or migration right away.

I did say it would be slow above. I also said fixing the difficulty targeting seems most important to complete right away.

Yes. Shorter block times too. The original post said fast moving block chains which is not the case. Need to drop it down to about 1 minute or 30 seconds.

Phase 1 should be:
-New website design
-New modern logo/branding


Phase 2 should be:
-Implement DGW3 in clients
-Finish Android client
-Polish up clients with new images and logos
-30 sec or 1 min block rewards still increasing the supply as planned originally

[owlhooter]

ufff .. once again .... marchants don´t want accept mazacoin as payment becouse contantly decreasing price & almost no buy orders ( you sell few milions and you´re at 1 satoshi)

and what is most important? mzc marchant acceptance

And here you go assuming the only reason a merchant would accept Mazacoin would be to dump it to BTC or fiat.  Mazacoin is not designed that way, if it is an official currency of the Lakota then the merchants that accept Mazacoin can use it as payments to other vendors that accept Mazacoin, and/or supplemental payments to employees as allowed by any governmental forces at work on the reserve.  If Maza gets used as an official currency why would any merchant accepting it in the official areas want to immediately dump it into the market? 

The thinking behind crypto traders needs to change, it is a paradigm shift away from Fiat, and Maza is a currency in it's own right that shouldn't be tied to bitcoin.

[owlhooter]

You guys are too big on the merged mining element. It's helpful to trust but the rollout of it will be slow. NOMP doesn't support upstream pools so you won't see much purpose or migration right away.

I did say it would be slow above. I also said fixing the difficulty targeting seems most important to complete right away.

Yes. Shorter block times too. The original post said fast moving block chains which is not the case. Need to drop it down to about 1 minute or 30 seconds.

Phase 1 should be:
-New website design
-New modern logo/branding


Phase 2 should be:
-Implement DGW3 in clients
-Finish Android client
-Polish up clients with new images and logos
-30 sec or 1 min block rewards still increasing the supply as planned originally

I would like to add AuxPOW and DGW3 at the same time to limit the number of forks we make with the coin, get it all right on the first fork that way any other changes we might make down the line could be to fix bugs that exist or to add to wallet functionality that wouldn't disrupt the blockchain.

[georgem]

ufff .. once again .... marchants don´t want accept mazacoin as payment becouse contantly decreasing price & almost no buy orders ( you sell few milions and you´re at 1 satoshi)

and what is most important? mzc marchant acceptance

And here you go assuming the only reason a merchant would accept Mazacoin would be to dump it to BTC or fiat.  Mazacoin is not designed that way, if it is an official currency of the Lakota then the merchants that accept Mazacoin can use it as payments to other vendors that accept Mazacoin, and/or supplemental payments to employees as allowed by any governmental forces at work on the reserve.  If Maza gets used as an official currency why would any merchant accepting it in the official areas want to immediately dump it into the market?  

The thinking behind crypto traders needs to change, it is a paradigm shift away from Fiat, and Maza is a currency in it's own right that shouldn't be tied to bitcoin.

+1

But here is where I come in.

I am just a miner from europe. No connection to lakota indians. Although I certainly would like to help them. I also like money (d'uh)

At the moment I am mining mazacoin fulltime.... I don't even know why. Could turn out to be a complete net loss. But I have a good feeling in the gut.
But ofcourse basically I want to make a small profit in the future.

So my question, how are you going to make mazacoin "tasty" for us outside investors?

If mazacoin wants to build a secure payment network (that works liquidly and has high hashrate) it needs to either

1) be mergemined with BTC
or
2) have a high appeal to international miners (like me)

Miners want to help, but they also need to make a little money doing so.

How does the saying go:

Altruism doesn't exist, sustainability must be made profitable.

[georgem]

two things are important for a coin to succeed.

Miners and merchants.

The one can't exist without the other.

Without miners there can be no secure payment network, so no merchants would like to use the coin.

Without merchants there is no longtime incentive for miners to mine this coin.

...

I think the main reason for the price dump we are seeing is that the few miners (from mainly multipools) are dumping MZC immediately and often they are not even making a net profit by doing that, so they lose interest...

This has to stabilize.

I, as a fulltime mazacoin miner pledge to not sell any mazacoin I mine below the price of 100 satoshi.

I will continue upping this number the more stable mazacoin gets in the future.

[guruvan]

1) Smart merchants accept low value coins all the time...when they're expected to be long term plays
 - I know of at least one merchant who is not, to my knowledge, otherwise associated with Lakota or mazacoin, accepting maza as cash for purchases via coinpayments.net. This vendor (cryfter.com ...gift cards, cell refill cards) accepts only a few altcoins, including maza.

I'd totally accept mazacoin in a store if the blocktimes would nomalize. It was something like.... 85000MZC for my refill card..- hell yeah, I'd take some maza for that kinda price. And, while not many vendors will take such risks, there are plenty of old-hand bitcoiners (altcoiners!) around who know the real deal when they see it. A short term downturn right on launch isn't really anything more than an accumulation opportunity to many long time players. It's these types of folks we need to seek out to provide a visible merchant base - this will reduce the appearance of risk associated with accepting maza.

2) I totally agree with owlhooter about minimizing number of hard forks BUT blocktime stability needs to be reached ASAP.
 - if the auxpow code is ready from boxxa
 - and can easily be worked in with a targeting change
 - and that doesn't delay the targeting change
I say go! I'm not much a coder, but I can read well enough, and quickly implement and throw some hashpower for testing.

3) boxxa...can you explain why shorter block times are so big in your book? I'm not really wild about supporting coins in my pool right now that are 1min or less. Orphan rates are much higher, processor consumption is much higher, bandwidth and i/o too. If you can show me how this is beneficial, I will support it...Otherwise I prefer 2min.
   - of all the fast block time coins I've mined, Myriad is by far the least taxing despite the 30sec avg block time.
   - MYR also has the lowest orphan rate of any fast chain I'm mining
   - Zetacoin is one of the most taxing, with a high orphan rate.

Obviously, MYR works differently, but it is a 30sec blocktime, so that should produce nearly the same workload on my coind - but not really even close to the load ZET produces. I can read code, but not well enough to determine the reason for this.


Finally just for the records - my team mines, buys, and holds mazacoin. We hold a significant position, and while we do some trading, we are not doing much more than buying at these prices.

[chickenfried12]

  I think we need to ask to critical questions about how to get Maza implemented and used in the Latoka Community. How are they getting the coins? How do we get them to use Maza? Why would a Casino want to use Maza? I can see how it can work but I do not see how a reduction in Mining rewards will get them to use Maza.  Something more to get the Maza in their hands. Maybe a percentage of all new mining goes to restricted Maza that must be used for purchases by the Latoka. Then the Community will demand that merchants accept Maza. Make those few Maza Restricted for Commerce for a certain period of time. It does not have to be a huge amount, just enough to get things moving faster.
   

[owlhooter]

Someone pointed out that Mazacoin was listed as a Scam here, https://cryptocointalk.com/blog/68/entry-120-list-of-all-scam-trading-platforms-and-crypto-currency-exchanges-and-their-owners  I have been in contact with horiacretan and we will work to get the trust back from the community to be de-listed from this blog entry.

First off, regarding the pre-mine, Payu still controls the Tribal reserve, and I am now in control of the Trust.  From my talks with Payu it appears someone got into the Reserve wallet and transferred 10 mil out of it a few months back, he is unsure who did it.  He has also paid some out in grants and the amount in that wallet is around 9.4 Mil at this time.  The Trust account has 16.8 Mil in it currently and I have moved it to MS5LqNWzrRo6DXzjXcafrCpWJL2NUXGRv5 Some of the coins sent from this wallet I am told were sent for grants as intended, however I was also told some of it was sold to pay for some bills surrounding Mazacoin, while I can't confirm the exact amount transferred for that purpose, it does appear it could be upwards of 5.9 million.  It also doesn't look like the wallet ever held the full 25 mil as was initially announced, the wallet I obtained can be viewed here http://explorer.embargocoin.com:2750/address/MKhbYDjoEUUJq1xoLqT5Xe4yLCNa1qWKqT

The Reserve wallet can be viewed here explorer.embargocoin.com:2750/address/MNG15HKzUQeiT8QmtAghvSKpQwwgzZSFzS

Also, the 5.9 million that were transferred from the Trust account you can see happened after the crash of the price, so it was not sold during the initial pump of Mazacoin which could have caused massive profit from the wallets at that time.  


Edit: Yes, I need to fix the explorer so it will list the correct addresses.

[georgem]

From my talks with Payu it appears someone got into the Reserve wallet and transferred 10 mil out of it a few months back, he is unsure who did it.  He has also paid some out in grants and the amount in that wallet is around 9.4 Mil at this time.  

That's the problem with mazacoin... people read things like that and can't get you serious anymore.

But one thing at a time. I think there are very pressing matters that should be fixed immediately.

How many blockexplorers have come and gone??? So many dead links everywhere pointing to has-been blockexplorers. Even the pool I am mining with has dead blockexplorer links.

I am thinking about installing a blockexplorer (that let's you explore addresses) myself if the situation doesn't change...

People like payu harris have to create youtube videos and interviews on a regular basis... atleast once a week. Show that you give mazacoins to people, show how you talk to regular people about the coin, etc...

Fork the coin.


Not so important: improve website-design. This is completely irrelevant if all the other posts are not first addressed and solved.

[owlhooter]

How many blockexplorers have come and gone??? So many dead links everywhere pointing to has-been blockexplorers. Even the pool I am mining with has dead blockexplorer links.

I've fixed the block explorer links at the pool, I'm also re-reading the chain into the database to correct the address issue, explorer should be back up in an hour or 2 once it's done reading all the blocks and transactions back in.

Block explorer is up and showing correct MZC addresses.