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Author Topic: [MOON] Mooncoin 🌙 built in 2013 with the future in mind  (Read 1100 times)
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HeitorMessias
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October 14, 2021, 05:32:42 AM
 #61

El Salvador's president Nayib Bukele has said via a Twitter video that the country started its project to use geothermal energy—from volcanoes—to mine Bitcoin. It is ecology-friendly, and still Proof-of-Work.
https://decrypt.co/82201/el-salvador-volcano-bitcoin-mining-first-steps

Maybe he could consider mining Mooncoin one day?
There are not too many classic Proof of Work coins in the crypto world.
Mooncoin is one of them.
99 percent of coins are tokens and pos.
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October 16, 2021, 01:50:48 AM
 #62

There are not too many classic Proof of Work coins in the crypto world.
Mooncoin is one of them.
99 percent of coins are tokens and pos.

You're right about that. Not many coins are PoW nowadays. The market is full of shitcoins and tokens based on PoS. If this keeps up, the industry might become heavily-centralized. It goes against the principles of crypto/Blockchain tech. Consider how Bitcoin hasn't switched to a new consensus algorithm, despite many people criticizing its "high-energy" consumption. The energy "wasted" is being put to good use as it makes the network much more decentralized and censorship-resistant.  I'm glad Mooncoin is still a PoW coin, or it would've been a goner.  Hopefully, a country like El Salvador would open up to Mooncoin as PoW-based cryptocurrencies become extremely rare in the future.  Smiley

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October 19, 2021, 08:17:51 AM
 #63

There are not too many classic Proof of Work coins in the crypto world.
Mooncoin is one of them.
99 percent of coins are tokens and pos.

You're right about that. Not many coins are PoW nowadays. The market is full of shitcoins and tokens based on PoS. If this keeps up, the industry might become heavily-centralized. It goes against the principles of crypto/Blockchain tech. Consider how Bitcoin hasn't switched to a new consensus algorithm, despite many people criticizing its "high-energy" consumption. The energy "wasted" is being put to good use as it makes the network much more decentralized and censorship-resistant.  I'm glad Mooncoin is still a PoW coin, or it would've been a goner.  Hopefully, a country like El Salvador would open up to Mooncoin as PoW-based cryptocurrencies become extremely rare in the future.  Smiley

In the last poll proposed in one of Mooncoin Telegram channels (https://t.me/MoonCoinEco) about algo change preferences (PoW, PoS, Hybrid PoW/PoS) I voted for PoW.

While I generally agree with what Abiki and Heitor have written in this forum, I was puzzled by the direct response that Michi, the mooncoin lead dev and also a Doge core dev, gave to a Chinese investor who is insisting for Mooncoin to stay with PoW technology.

What Michi wrote:

Chinese mining powerhouses feel that mooncoin should reamin PoW... This isn't surprising at all. So what you're saying is since you and your friends have the advantage, it should remain biased to your advantage. Shocking. The purpose of Mooncoin is not to line the pockets of Chinese mining farms. Nor is Dogecoin. The world may change around you guys soon. I know you enjoy having crypto holders be dependent on your whims -- who in your position wouldn't? It won't last. PoW coins WILL become a pariah the world over. The future of currency is not giant Chinese warehouses filled with single purpose hardware doing useless calcs. And I'm not at all worried as to whether or not you agree on that. Time will take care of it.

This response really struck me because in some ways it is meant to shed light on the technology to come, with a number of implications that could profoundly change the entire crypto world. Which, in light of the energy and environmental implications as well, I can't help but agree with.

At the same time, the block of the mining farms in China and the almost total zeroing of the role of the Chinese in the hash power, the idea of the president of El Salvador to use the geothermal energy of a volcano, and last but not least Jack Dorsey that with Square intends to revolutionize the energy mining industry are equally valid visions in support of the PoW algorithm.

What do you think? Shall we open a debate here on this forum about the different algorithms and their implications?




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October 19, 2021, 11:00:24 PM
Last edit: October 19, 2021, 11:25:35 PM by Abiky
 #64

...
What Michi wrote:

Chinese mining powerhouses feel that mooncoin should reamin PoW... This isn't surprising at all. So what you're saying is since you and your friends have the advantage, it should remain biased to your advantage. Shocking. The purpose of Mooncoin is not to line the pockets of Chinese mining farms. Nor is Dogecoin. The world may change around you guys soon. I know you enjoy having crypto holders be dependent on your whims -- who in your position wouldn't? It won't last. PoW coins WILL become a pariah the world over. The future of currency is not giant Chinese warehouses filled with single purpose hardware doing useless calcs. And I'm not at all worried as to whether or not you agree on that. Time will take care of it.

This response really struck me because in some ways it is meant to shed light on the technology to come, with a number of implications that could profoundly change the entire crypto world. Which, in light of the energy and environmental implications as well, I can't help but agree with.

At the same time, the block of the mining farms in China and the almost total zeroing of the role of the Chinese in the hash power, the idea of the president of El Salvador to use the geothermal energy of a volcano, and last but not least Jack Dorsey that with Square intends to revolutionize the energy mining industry are equally valid visions in support of the PoW algorithm.

What do you think? Shall we open a debate here on this forum about the different algorithms and their implications?

Well, you say now that to keep Mooncoin PoW is a 'whim' (is it okay btw to use words like that, again and again trying to say something to make other people look bad, is it normal discussing?)
Okay, let's check out what is a definition of 'whim',
Whim definition is -' a capricious or eccentric and often sudden idea or turn of the mind.'
But Mooncoin is PoW since its beginning, since 2013. Rather turning it to PoS is turn of the mind and a whim itself.

Next, why nothing is being said about what is necessary to transform PoW into PoS. Because, even if someone can support the idea itself, the price of this action can be hidden behind the scene. A simple question how one is going to make it even in the theory, to describe it step by step? Do you mean to start a new blockchain and swap, with which ratio, with which staking rewards? How exchanges would react? Could there be potential issues during the process?

Again, you say like you know the future that PoS will live and PoW willl die.
Time will tell. No one knows the future. Is it wise to make it look like someone knows the future? Maybe laws in the future will just consider staking as a financial pyramid unlike PoW and that can lead to sanctions against PoS coins. Yes, crypto is basically government-resistant, but would all this mess help the project grow?

Mooncoin is PoW. Let's say you came to it to help it. But many its native features you don't agree with. But why just not create your own coin or join and help any PoS coin which better fits your view? Why change everything, the algo, the nature of coin, attack people who don't agree with all that mess and say that they are dictators with whims, not mature etc.

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October 20, 2021, 08:31:08 AM
 #65

...
What Michi wrote:

Chinese mining powerhouses feel that mooncoin should reamin PoW... This isn't surprising at all. So what you're saying is since you and your friends have the advantage, it should remain biased to your advantage. Shocking. The purpose of Mooncoin is not to line the pockets of Chinese mining farms. Nor is Dogecoin. The world may change around you guys soon. I know you enjoy having crypto holders be dependent on your whims -- who in your position wouldn't? It won't last. PoW coins WILL become a pariah the world over. The future of currency is not giant Chinese warehouses filled with single purpose hardware doing useless calcs. And I'm not at all worried as to whether or not you agree on that. Time will take care of it.

This response really struck me because in some ways it is meant to shed light on the technology to come, with a number of implications that could profoundly change the entire crypto world. Which, in light of the energy and environmental implications as well, I can't help but agree with.

At the same time, the block of the mining farms in China and the almost total zeroing of the role of the Chinese in the hash power, the idea of the president of El Salvador to use the geothermal energy of a volcano, and last but not least Jack Dorsey that with Square intends to revolutionize the energy mining industry are equally valid visions in support of the PoW algorithm.

What do you think? Shall we open a debate here on this forum about the different algorithms and their implications?

Well, you say now that to keep Mooncoin PoW is a 'whim' (is it okay btw to use words like that, again and again trying to say something to make other people look bad, is it normal discussing?)
Okay, let's check out what is a definition of 'whim',
Whim definition is -' a capricious or eccentric and often sudden idea or turn of the mind.'
But Mooncoin is PoW since its beginning, since 2013. Rather turning it to PoS is turn of the mind and a whim itself.

Next, why nothing is being said about what is necessary to transform PoW into PoS. Because, even if someone can support the idea itself, the price of this action can be hidden behind the scene. A simple question how one is going to make it even in the theory, to describe it step by step? Do you mean to start a new blockchain and swap, with which ratio, with which staking rewards? How exchanges would react? Could there be potential issues during the process?

Again, you say like you know the future that PoS will live and PoW willl die.
Time will tell. No one knows the future. Is it wise to make it look like someone knows the future? Maybe laws in the future will just consider staking as a financial pyramid unlike PoW and that can lead to sanctions against PoS coins. Yes, crypto is basically government-resistant, but would all this mess help the project grow?

Mooncoin is PoW. Let's say you came to it to help it. But many its native features you don't agree with. But why just not create your own coin or join and help any PoS coin which better fits your view? Why change everything, the algo, the nature of coin, attack people who don't agree with all that mess and say that they are dictators with whims, not mature etc.

What you write makes a lot of sense about the need to keep the PoW algorithm.

What - not me, but Michi - says worries me from an energy and sustainability point of view, but as - I - wrote below it is also true that the mining industry is moving towards more environmentally sustainable solutions and reinforces the idea of the PoW algorithm for Bitcoin and a few other coins.

Thanks for your point of view Abiki, this is all very important for me to understand.
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October 21, 2021, 03:37:18 PM
 #66


...

Thanks for your point of view Abiki, this is all very important for me to understand.

You're welcome.  Wink

I'd like to add that Mooncoin was abandoned by original devs and saved by its holders. After Mooncoin entered top 100 on Coinmarketcap in 2017 with a market cap of 100 million and more, new holders and devs came, some of them returned, and people who saved Mooncoin said to them: 'you are welcome', were friendly to them, never imposed or even thought about any hierarchy, based on amount of holdings, or on time and efforts spent. I was not able to recall initially any conflict or even any word which could be seen as one not respectful to newcomers -until traditions, ideas and nature of project had been attacked.
People who returned in 2017-2018, or some newcomers could just continue time proven (the market voted) traditions of Mooncoin with friendly spirit, ideas of brotherhood with no hierarchy, no bureacracy, with mutual trust. That never happened.

It is clear that Mooncoin was a winner in 2017 due to its nature, ideas and traditions and efforts of holders who saved it in 2015-2016 when not even single seniour tech dev cared about the project. If you come or return to the coin, is it not a good idea to kindly respect its traditions and history?
Don't attack them and don't attack people who care about them and try to keep them.
Don't try to break rules of game, it is not fair.
Think about all people who have chosen Mooncoin as it is, mineable, with all its problems but also with traditions. And to all these people: be active, express your view, don't think that nothing depends on you. Thanks to our Chinese brothers for their support.

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