AI Coin Development Diary

[SlipperySlope]

Thanks for your reply.

The peer that hosts the mint is selected by the configuration agent from among the super-peers. The simplest method is to take-turns round-robin. The duration of the mint responsibility is a parameter that can be adjusted. Given that the mint hosting schedule can be efficiently published in advance to all peers, then the mint hosting duration could be anywhere from 10 minutes to perhaps one week.

But what are the (objective) criteria by which the mint role is assigned? My worry is that there is no valuable/scarce resource necessary to become the mint and therefore control the network...

The most valuable resources (for an attacker) seem to be "node-stake" and the quantity of nodes since everyone seems to be able to become a super peer no matter of his stake size (correct?). Isn't this much easier to achieve than pure stake?

A.I. Coin will launch with a minimum of five super peers, located in geographically dispersed datacenters.  The founding super peer operators will vet candidates that become new super peers when needed due to growing transaction volume.

A joining node cannot become a super peer otherwise.

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[leathan]

Wish I had time to follow this, seems very interesting.. good luck. I already learned alot just reading through this post.

P.S. C programmers are heros*

[emdje]

Interesting ideas, and difficult to read even when read twice, learning a lot here.

Any thoughts already about what algorithm to use?
You are talking about hardforking Bitcoin (when/if A.I. Coin is succesfull and accepted by the community), does that mean it will most likely be a sha265 algorithm?

[LeChatNoir]

What's happened to this project?

[biggus dickus]

What's happened to this project?

This project is not a rush job. According to the OP is a multi-year effort. He is trying to create a new innovation instead of the usual cut and paste job.

...........

The A.I. Coin project is a multi-year effort to achieve a no-proof-of-work mining implementation in an cryptocurrency that ...

............

[The Chainmaker]

What's happened to this project?

This project is not a rush job. According to the OP is a multi-year effort. He is trying to create a new innovation instead of the usual cut and paste job.

...........

The A.I. Coin project is a multi-year effort to achieve a no-proof-of-work mining implementation in an cryptocurrency that ...

............

anybody with the name biggus dickus is a person that I'm guessing wouldn't lie, no?

[The Chainmaker]

Thanks for your reply.

The peer that hosts the mint is selected by the configuration agent from among the super-peers. The simplest method is to take-turns round-robin. The duration of the mint responsibility is a parameter that can be adjusted. Given that the mint hosting schedule can be efficiently published in advance to all peers, then the mint hosting duration could be anywhere from 10 minutes to perhaps one week.

But what are the (objective) criteria by which the mint role is assigned? My worry is that there is no valuable/scarce resource necessary to become the mint and therefore control the network...

The most valuable resources (for an attacker) seem to be "node-stake" and the quantity of nodes since everyone seems to be able to become a super peer no matter of his stake size (correct?). Isn't this much easier to achieve than pure stake?

A.I. Coin will launch with a minimum of five super peers, located in geographically dispersed datacenters.  The founding super peer operators will vet candidates that become new super peers when needed due to growing transaction volume.

A joining node cannot become a super peer otherwise.

and anyone with a name "slipper slope" should be somebody I can totally trust to give my money to, no?

just saying....

[The Chainmaker]

I'm sure you are a legit guy.... but that name is terrible.

[rpietila]

I would not go against established members with 3 months / 100 posts experience. 

Do you realize the guy is 45 years older than you, and changing the name in the forum costs $2,500? He's had 1000x gains from Bitcoin and in the old days, stupid names were ok.

[CIYAM]

...and changing the name in the forum costs $2,500?

Sorry but in what forum does it cost $2,500 to change your user name?

[Cablez]

He is talking about being a donator in order to change your username.

[CIYAM]

He is talking about being a donator in order to change your username.

I changed my user name - and it cost me nothing (just a request to @theymos).

So I am not sure exactly the point (apart from that you can change your username without requesting a mod to do so if you have that status).

[Cablez]

Well then I am not sure what he is referencing in that bit, lol. 

[rpietila]

He is talking about being a donator in order to change your username.

I changed my user name - and it cost me nothing (just a request to @theymos).

@theymos is a good guy but it does not mean he would change the usernames for random newbies, so consider yourselves a part of old guard 

[biggus dickus]

What's happened to this project?

This project is not a rush job. According to the OP is a multi-year effort. He is trying to create a new innovation instead of the usual cut and paste job.

...........

The A.I. Coin project is a multi-year effort to achieve a no-proof-of-work mining implementation in an cryptocurrency that ...

............

anybody with the name biggus dickus is a person that I'm guessing wouldn't lie, no?

I take offence at that remark, biggus dickus is my real name.

[biggus dickus]

He is talking about being a donator in order to change your username.

I changed my user name - and it cost me nothing (just a request to @theymos).

@theymos is a good guy but it does not mean he would change the usernames for random newbies, so consider yourselves a part of old guard 

Here is what the staff member Eal F. Skillz has to say about whether it's possible to have your username changed.

I don't think theymos have time for this anymore. Just create a new account if you don't like this username or be a donator.

PM theymos and ask him very nicely.

The forum is too big for this now.  Staff, donators, and VIP can do it... so my suggestion is donate 10 BTC or create a new account.

Contact theymos he will change it for you.

No he won't, stop bothering the admin with rubbish like this or are you just posting for the sake of your prime dice payouts?

OP, name changes are only available to donators, vip and staff members.

Here's what the administrator BadBear has to say about getting theymos to change a username.

Just make the new account, nobody cares if you have more than one. Go nuts.

I agree with rpietila, theymos might do an old timer a favor and change his name, but his time is too limited to do it for the rest of us.

[CIYAM]

I agree with rpietila, theymos might do an old timer a favor and change his name, but his time is too limited to do it for the rest of us.

It probably has got far too big for that now - but at least newbies won't really lose anything by creating a new account.

You can also buy senior accounts (assuming one for sale has a name you like) for well under 1 BTC.

[SlipperySlope]

Hi everyone.

Drew Hingorani, myself, and our active community plan to launch AI Coin at the Inside Bitcoins Conference New York, April 27-29. I have been silent the past few months here as we worked on the first provisional patent covering our solution to what we characterize as certain Bitcoin problems.

We now have a dedicated modern forum where you can see technical information, as well as our pre-launch activities. The super peer demonstration network has been minting 50 test aicoins every 10 minutes for over 60 days. We have branded a MultiBit wallet for AI Coin, which you can download for Windows. We have a branded QT wallet for the Mac. You can see our minting and transaction activity on our branded Insight Blockchain explorer.

Our chief innovation vs Bitcoin for customers is that AI Coin has immediate settlement - sub second response time. The QT and MultiBit wallets have been modified to permit immediate spending of received transactions. Our chief innovation for the business is that our cooperative mining secures the blockchain with network-wide algorithmic trustworthiness, and without conventional mining expense.

AI Coin, the company, will initially own the aicoins minted each day, and will transparently pay expenses with them, or with fiat obtained from daily sold aicoins. Our expenses are planned to optimally promote the value of aicoin, and to benefit our community. We will hold a substantial reserve in fiat to cover customer losses that are our fault. We will pursue both a Bit License for New York State operation, and Money Services Business licenses in the 50 US States, as well as similar licensing in other jurisdictions that are important to our customers.

Customers can buy aicoins from an exchange after launch, or can perform specified tasks as contractors for us and be paid in aicoins. The company will subsidize certain customer, payment processor and merchant activities to give aicoin a comparative advantage over other crytptocurrencies with regard to transaction friction. Our transaction fees will be 100x lower relative to Bitcoin and we will likewise accommodate microtransactions.

Important among our contractors are the operators of our network. We plan to pay $1000 per month to super peer operators which host their servers in DDoS-protected secure datacenters. We anticipate having enough of these in the network backbone to claim that AI Coin is more decentralized than Bitcoin with regard to the geographical locations in which new blocks are added to the blockchain. Likewise we plan to pay $50 per month to operators of ordinary computers that dedicate home or office computers 24/7 for the purpose of archiving the AI Coin blockchain. We need between 50 - 100 of the archiving peers to assure redundancy, and to have plenty of network gateways for customer wallets.

We have a growing, active community who contribute ideas, artwork, programming, social networking and so on. They enthusiastically want to bring AI Coin to the mainstream.

Our forum:  ai-cointalk.org .
Website: ai-coin.org
Demonstration blockchain explorer: texai.dyndns.org:3000

Join Us

-Stephen Reed

[emdje]

Would I be able to mine AI coin? Or just buy on exchange?
And are there already uses for it when it launches?

[SlipperySlope]

Would I be able to mine AI coin? Or just buy on exchange?
And are there already uses for it when it launches?

The company is the sole miner of AI Coin. The 7,200 aicoins created each day will be sold on an exchange or otherwise directly paid for expenses.

AI Coin, the company, will initially own the aicoins minted each day, and will transparently pay expenses with them, or with fiat obtained from daily sold aicoins. Our expenses are planned to optimally promote the value of aicoin, and to benefit our community. We will hold a substantial reserve in fiat to cover customer losses that are our fault. We will pursue both a Bit License for New York State operation, and Money Services Business licenses in the 50 US States, as well as similar licensing in other jurisdictions that are important to our customers.

We are seeking integration with at least one payment processor before launch, and that depends on obtaining an exchange before launch.