[ANN][SIM] Simcoin - A Simple Coin

[NxtChg]

logo + style contest - I really like dzarmush work
He is a big simcoin supporter and investor, I am sure he will make time for this.

Yeah, he's our biggest investor, so let's get more from him by making him work for free!

Come on... Fair reward to everybody.

I also like QBTC's work, but not sure if she's available/interested...

How was it organized for NXT? I remember lots of samples submitted. Did they all get paid or just the winner?

[NxtChg]

- signature giveaway is a good way to get simcoin exposed (like this: https://bitcointalk.org/index.php?topic=623943.0, made by argan)

There's something uncomfortable about paying people to pretend to like you.

I would rather just buy an ad here.

[ownerbest]

logo + style contest - I really like dzarmush work
He is a big simcoin supporter and investor, I am sure he will make time for this.

Yeah, he's our biggest investor, so let's get more from him by making him work for free!

Come on... Fair reward to everybody.

I also like QBTC's work, but not sure if she's available/interested...

How was it organized for NXT? I remember lots of samples submitted. Did they all get paid or just the winner?

Maybe the top 10(could be other num) can get paid, and the winner get the most?

[NxtChg]

Maybe the top 10(could be other num) can get paid, and the winner get the most?

Yeah, that could work. Something like "reward = base / (1 + position)". For the winner, position = 0.

So if base is 100, then:
1   100
2   33
3   25
4   20
5   17
6   14
7   13
8   11
9   10
10   9

Total: 252

But need to make sure voting is not rigged.

[onemorebtc]

Maybe the top 10(could be other num) can get paid, and the winner get the most?

Yeah, that could work. Something like "reward = base / (1 + position)". For the winner, position = 0.

So if base is 100, then:
1   100
2   33
3   25
4   20
5   17
6   14
7   13
8   11
9   10
10   9

Total: 252

But need to make sure voting is not rigged.

ipo-stake voting?

[NxtChg]

ipo-stake voting?

Thought about it. But for things like logo, it's not so good.

On the other hand, 200 people is a big enough group. For logo we could count votes as one account = one vote, not by stake.

But this means more work for me to write a simple voting system for the site...

Still it can be handy, I remember it was pretty upsetting that NXT had no voting system.

[NxtChg]

Many many qualified Nxt folks (I'm sure you know who they are) but probably most Nxt hands are tied up.    

Exceptional skills have been exhibited by the NHZ devs and agran from Qora.

If you, guys, know good skilled people, invite them here.

Maybe not now, but once contests/bounties are actually announced.

[gstarcev]

It might be a good idea to have a simple idea crowdsourcing system and to have it connected to the future simcoin.info voting system.

[NxtChg]

Cross-post from https://simcoin.info/wiki/Node_Rewards

Node Rewards Proposal

Since there is no blockchain in Simcoin, there is no easy way to reward nodes.

I would like for them to be rewarded by transaction fees, but so far was unable to find a satisfactory solution.

My current idea is a separate piece of software that will monitor the network and reward nodes randomly if they are online.

Advantages:

* Much simpler core code, no need for complicated fee processing.

* Only nodes that are verified to act as decent members are rewarded (i.e. you cannot just create dead nodes and expect to be rewarded). The tool will use various metrics to make sure nodes are decent. This has nothing to do with consensus, it's only for reward. For example, ping should be low enough, uptime is good, etc. The reward will be proportional to node's stake and services provided.

* We can distribute significant part of 60% this way and it will be similar to Bitcoin's mining - a slow, inflationary increase in money supply for the next few years in line with demand.

* It allows to regulate network size and this is important. For Simcoin to keep its performance promises, the number of nodes should be reasonable (i.e. not everybody can be a "miner"). Something like 1000 active nodes. So by adjusting daily rewards we can regulate how profitable it is to run a node and thus regulate the size of the network.

* It allows to keep transaction fees very low, which is good for wider adoption and also makes them less vulnerable to price volatility.


This software can be run by anyone who wants to support the network, but will probably be run mostly by me and later by something like Simcoin Foundation, which will receive part of transaction fees to support the network.

We can also use Account Control feature to allow only limited amount of money to be spent on rewards daily and make it so that it can only be spent on nodes.

[wizzardTim]

Can we change our pasword in simcoin.info?

[NxtChg]

Can we change our pasword in simcoin.info?

Yes, if you had an email set. Log out and you will see Reset link on the login page.

[NxtChg]

Oh boy...  I thought you guys were talking about changing/resetting as in choosing our own password...  is it a good idea to have the new password shown in plain text in the email like that???    

Are you afraid somebody's looking over your shoulder or you don't use HTTPS for your mail?

No, you're right, it's not an ideal solution.

[NxtChg]

How about a reset link that takes you back to the website where a new password is depicted on screen like when you first open an account?  If feasible...  does it make any difference in regard to safety?  

Added into To-do list. Will do it for the exchange if it's not too time consuming.

[wizzardTim]

Also please add email verification before withdrawals (if you hadnt done that already)

[NxtChg]

Also please add email verification before withdrawals (if you hadnt done that already)

This will require some significant changes... Again, will do if not too time consuming.

Withdrawals will be manual, so I can do some more checks if the amount is big, like IP matching, etc.

[notsoshifty]

My current idea is a separate piece of software that will monitor the network and reward nodes randomly if they are online.

How to do that in a decentralised trustless manner?

[NxtChg]

How to do that in a decentralised trustless manner?

I don't know, I haven't found a good solution yet, so at this point it requires something like Simcoin Foundation.

But we can limit their powers significantly, so it can even be replaced if users vote so.

During the initial distribution some trust will be required. First, in me (I already control that share, so it's not a big problem), then in a trusted committee/foundation.

Once the initial supply is distributed the foundation will only live on fees and can be controlled by end-users.

Plus some stakeholders/services can run their own copies and support the network at least in part.

[sherpico77]

Some ideas for nodes reward:

- Creation of a "mother's account" at coin launch.
- The password of this account is unknown, random, and only software knows it.
- Fees go always to the mother account.
- Periodically nodes receive proportional or random rewards from mother account.
- If the account balance decreases, fees rise, if balance rise, fees decrease, automatically.

This would also allow bounty the account initially, to provide fees were minimal in the first months.

I do not know if it would be possible or secure, but would be a decentralized system. Perhaps this could be included into client software too.

Sorry for my English, is not my original language.

[NxtChg]

- The password of this account is unknown, random, and only software knows it.

That's pretty much impossible.

But other than that, your scheme is very close. The mother account will be the Foundation account. It will know the password.

Also good idea to use automated fees, tied to this account. Not sure if it will be feasible, but I will think about it.

[sherpico77]

...Not sure if it will be feasible, but I will think about it.

Ok, good luck