[ANN][BMR] Bitmonero - a new coin based on CryptoNote technology - LAUNCHED

[stealth923]

Is solo still the only way to get this coin - im finding it really hard to find a block even though my hash is around 12.

[1714178245]

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[smooth]

Is solo still the only way to get this coin - im finding it really hard to find a block even though my hash is around 12.

No pool yet. Just solo and be patient.

[r0ach]

This is not gonna be "the next Bitcoin" unless it's forked to a Myriadcoin type revision.  Four algorithms at 8-10 minutes each:  Groestl, Cryptonote algo, Sha 256, and then either Skein, Heavycoin algo, or X11.

Right now this is just a botnet coin.

[tacotime]

This is not gonna be "the next Bitcoin" unless it's forked to a Myriadcoin type revision.  Four algorithms at 8-10 minutes each:  Groestl, Cryptonote algo, Sha 256, and then either Skein, Heavycoin algo, or X11.

Right now this is just a botnet coin.

lol

[smooth]

This is not gonna be "the next Bitcoin" unless it's forked to a Myriadcoin type revision.  Four algorithms at 8-10 minutes each:  Groestl, Cryptonote algo, Sha 256, and then either Skein, Heavycoin algo, or X11.

Right now this is just a botnet coin.

lol

+1

[tacotime]

We should probably fix the mempool/getblocktemplate at some point to not include ALL transactions at the cost of the block reward

Code:

2014-Apr-21 23:51:41.291710 [P2P5]+++++ BLOCK SUCCESSFULLY ADDED
id:	<d4c9d4da7ef4fa8ec3e9af41b46e8fa4496c04161ee481da7a9d6020af294097>
PoW:	<8bd14baabe4f4f8f285db52e68c4e2d785c04b9f3277e912e1c0fed7f7120000>
HEIGHT 5812, difficulty:	233194
block reward: 2.167697195560(2.167696060291 + 0.000001135269), coinbase_blob_size: 345, cumulative size: 38720, 959(1/609)ms

If I was that miner I would be pissed.  You should be able to set a max inclusion for transactions from the mempool in bytes somewhere.

[smooth]

We should probably fix the mempool/getblocktemplate at some point to not include ALL transactions at the cost of the block reward

Code:

2014-Apr-21 23:51:41.291710 [P2P5]+++++ BLOCK SUCCESSFULLY ADDED
id:	<d4c9d4da7ef4fa8ec3e9af41b46e8fa4496c04161ee481da7a9d6020af294097>
PoW:	<8bd14baabe4f4f8f285db52e68c4e2d785c04b9f3277e912e1c0fed7f7120000>
HEIGHT 5812, difficulty:	233194
block reward: 2.167697195560(2.167696060291 + 0.000001135269), coinbase_blob_size: 345, cumulative size: 38720, 959(1/609)ms

If I was that miner I would be pissed.  You should be able to set a max inclusion for transactions from the mempool in bytes somewhere.

If you read the original paper, the miner is supposed to strive for the maximum reward + transaction fees. I guess the code doesn't do that?

[smooth]

We just had our first public reported trade (aside from my small auctions).

1000 BMR traded at 0.0005 BTC/BMR (so a total of 0.5 BTC).

https://bitcointalk.org/index.php?topic=578192.0

[tacotime]

We should probably fix the mempool/getblocktemplate at some point to not include ALL transactions at the cost of the block reward

Code:

2014-Apr-21 23:51:41.291710 [P2P5]+++++ BLOCK SUCCESSFULLY ADDED
id:	<d4c9d4da7ef4fa8ec3e9af41b46e8fa4496c04161ee481da7a9d6020af294097>
PoW:	<8bd14baabe4f4f8f285db52e68c4e2d785c04b9f3277e912e1c0fed7f7120000>
HEIGHT 5812, difficulty:	233194
block reward: 2.167697195560(2.167696060291 + 0.000001135269), coinbase_blob_size: 345, cumulative size: 38720, 959(1/609)ms

If I was that miner I would be pissed.  You should be able to set a max inclusion for transactions from the mempool in bytes somewhere.

If you read the original paper, the miner is supposed to strive for the maximum reward + transaction fees. I guess the code doesn't do that?

This is the idea case, but you're only supposed to increase block size slowly to avoid reward penalty such as was seen in that block.

You need to alter this function to avoid making blocks larger than 10 kb without necessary fees to incentivize addition to the network:

Code:

  bool tx_memory_pool::fill_block_template(block &bl, size_t median_size, uint64_t already_generated_coins, size_t &total_size, uint64_t &fee)
  {
    CRITICAL_REGION_LOCAL(m_transactions_lock);

    total_size = 0;
    fee = 0;

    size_t max_total_size = 2 * median_size - CRYPTONOTE_COINBASE_BLOB_RESERVED_SIZE;
    std::unordered_set<crypto::key_image> k_images;
    BOOST_FOREACH(transactions_container::value_type& tx, m_transactions)
    {
      if (max_total_size < total_size + tx.second.blob_size)
        continue;

      if (!is_transaction_ready_to_go(tx.second) || have_key_images(k_images, tx.second.tx))
        continue;

      bl.tx_hashes.push_back(tx.first);
      total_size += tx.second.blob_size;
      fee += tx.second.fee;
      append_key_images(k_images, tx.second.tx);
    }

    return true;
  }

I'll look at it tomorrow

[smooth]

If you read the original paper, the miner is supposed to strive for the maximum reward + transaction fees. I guess the code doesn't do that?

This is the idea case, but you're only supposed to increase block size slowly to avoid reward penalty such as was seen in that block.

Right but the paper makes the claim that there is an equilibrium between adding transactions (more fees) and increasing block size (smaller reward).

Looks like that is missing from the code you posted.

[bengtåke]

Synching this blockchain takes quite a while, even this soon after release.. Makes me wonder how bad it will be later on. Hhopefully some improvements can be made, (parallel downloads?). Looks like this fork also stores the entire blockchain in memory? Anyway, new-ish technology is exciting, gonna try mining some.

[eizh]

Synching this blockchain takes quite a while, even this soon after release.. Makes me wonder how bad it will be later on. Hhopefully some improvements can be made, (parallel downloads?). Looks like this fork also stores the entire blockchain in memory? Anyway, new-ish technology is exciting, gonna try mining some.

Type "save" in the daemon and it'll store the blockchain on the hard drive. BCN has a quick start package on its website that includes a recent save of the blockchain. As the BMR chain grows in the coming months, we can provide that as well on our totally not non-existent website.

[bengtåke]

... we can provide that as well on our totally not non-existent website.

Thanks for the tip. Yeah, this coin release feels a bit rushed, like others have mentioned. Seems some botnet has moved in too, given how high the difficulty is :/

[smooth]

... we can provide that as well on our totally not non-existent website.

Thanks for the tip. Yeah, this coin release feels a bit rushed, like others have mentioned. Seems some botnet has moved in too, given how high the difficulty is :/

Thank you Mr. Botnet for helping us secure the block chain.

[tacotime]

Looks like solo is still fine even at diff 260k -- even with a single modern quad you should still be getting a few blocks per day.

I think probably solo will be dead around 750k for unix users, but we will have pools up by then.

[tacotime]

Synching this blockchain takes quite a while, even this soon after release.. Makes me wonder how bad it will be later on. Hhopefully some improvements can be made, (parallel downloads?). Looks like this fork also stores the entire blockchain in memory? Anyway, new-ish technology is exciting, gonna try mining some.

Yes, it loads the entire blockchain into memory.  This is a problem with ByteCoin too.  The reference implementation is pretty immature.

Syncing the entire blockchain takes a while too because you need to hash each header to verify it, and most single cores of a CPU only do 1 H/s or so.

[thankful_for_today]

Hi!

I have two news (good one and bad one):

[bad] I haven't read previous messages yet
[good] here is a logo contest: https://bitcointalk.org/index.php?topic=580155.0

[thankful_for_today]

Comkort exchange is working now on BCN integration. Let's vote for Bitmonero integration also!

https://comkort.com/vote

[cocoakrispies]

Comkort exchange is working now on BCN integration. Let's vote for Bitmonero integration also!

https://comkort.com/vote

Nice. Also just sending .1525 BTC would put it at the top of the list. That's about a $76 listing fee . . which is very cheap considering they list it for free otherwise (by just waiting and getting votes).

Hey while you're here . . are you planning on submitting your coin to CryptoNote? HoneyPenny already did and got a response, so I'm just wondering if you plan on doing this?

[thankful_for_today]

Comkort exchange is working now on BCN integration. Let's vote for Bitmonero integration also!

https://comkort.com/vote

Nice. Also just sending .1525 BTC would put it at the top of the list. That's about a $76 listing fee . . which is very cheap considering they list it for free otherwise (by just waiting and getting votes).

Hey while you're here . . are you planning on submitting your coin to CryptoNote? HoneyPenny already did and got a response, so I'm just wondering if you plan on doing this?

Thank you for your help!
Yes, for sure I will submit.