[ANN] AEON: Cryptonote privacy, efficiency, decentralization, and stability

[bbc.reporter]

@smooth. Thank you for the clarification. I was beginning to worry that we will be back to the standard, automatic Aeon answer of soon everytime someone asks when the release of the rebase will be hehehe.

Also, when will you announce the new roadmap?

[1594006679]

1594006679

[1594006679]

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[smooth]

There have been a few questions about how the rebase will affect current coin holdings, whether there will be a 'coin swap' etc. The short answer is that coin holdings will be completely unaffected. The rebase is about introducing new software to support the same blockchain. Coins are unaffected and there will not need to be a swap. You will probably need to restore your wallet from seed or keys using the new wallet software.

On the question of tail reward there has been ongoing discussion of this over the years and it was recently brought up on the rebase thread. My call on this is to simply adopt the same tail reward as Monero (that is, 0.3 AEON/minute). As such the rebase work should just carry over Monero's existing tail reward code. I know there have been some suggestions to try to differentiate on this basis, possibly have an exponentially growing reward (fixed annual percentage instead of fixed amount), etc. I don't think they are a good idea. The economics of a fixed reward that likely converges to a sort of fixed-ish money supply (given some percentage of annual coin loss due to lost/erased keys, deaths, etc.) both "get the job done" in terms of the reasons a tail reward is needed and also strike a decent balance with concerns over a coin serving as a store of value not having infinite dilution of coin holdings due to inflation.

Summary:
1. Existing coin holdings will not be affected by rebase
2. Tail reward to be implemented in the new code base will mirror Monero at 0.3 AEON/minute.

[estenity]

There have been a few questions about how the rebase will affect current coin holdings, whether there will be a 'coin swap' etc. The short answer is that coin holdings will be completely unaffected. The rebase is about introducing new software to support the same blockchain. Coins are unaffected and there will not need to be a swap. You will probably need to restore your wallet from seed or keys using the new wallet software.

On the question of tail reward there has been ongoing discussion of this over the years and it was recently brought up on the rebase thread. My call on this is to simply adopt the same tail reward as Monero (that is, 0.3 AEON/minute). As such the rebase work should just carry over Monero's existing tail reward code. I know there have been some suggestions to try to differentiate on this basis, possibly have an exponentially growing reward (fixed annual percentage instead of fixed amount), etc. I don't think they are a good idea. The economics of a fixed reward that likely converges to a sort of fixed-ish money supply (given some percentage of annual coin loss due to lost/erased keys, deaths, etc.) both "get the job done" in terms of the reasons a tail reward is needed and also strike a decent balance with concerns over a coin serving as a store of value not having infinite dilution of coin holdings due to inflation.

Summary:
1. Existing coin holdings will not be affected by rebase
2. Tail reward to be implemented in the new code base will mirror Monero at 0.3 AEON/minute.

very important precisions, thank you.

[mohucool]

Guys what's upcoming news for Aeon, I hope it sees same growth as Monero in 2018 as Monero did this year or even better.

[makko91]

I noticed that hash rate increased so much in the last months... this means that with the same hardware I will mine less AEON, right ?

[overboost]

Right.
It's getting harder to mine.

[jbmustaq]

Here comes the reality where inequality comes.

some people would not agree with me but the fact is large hashrate miners get the cream and less hashrate miners bear the burnt of mining on high difficulty and the fact is No Dev gives a damn about it as I see old coins & new coins the emphasis on the features but they don't think about the small hashrate miners who keep mining and support a coin.

Just to let you know I am not criticising anybody here but it's my perception of how virtual coins work.

[stoffu]

I don't understand when people say a given coin is "easier" or "harder" to mine (assuming the PoW algorithm being the same). The more worth the coin, the higher the difficulty. The ratio between the capital in (electricity + equipment) and the capital out (mining reward) should stay roughly the same over a long enough time period.

Whether that mining reward will become worth more or less in the future, is just speculation.

Aeon is easier to mine with CPU compared to other coins thanks to the CryptoNight-Lite PoW algorithm, which is the main reason why I like this coin.

[Anthony1985]

How to store safely Aeon on a Mac? Is it possible to do it in a paper wallet? could I check the balance?

[bbc.reporter]

@Anthony1985. I reckon for anything Aeon related for the Mac, the best person to contact is sammy007. Keep in mind that I am only assuming that he is a Mac user because he made the bootstrap file for Mac OSX.

[overboost]

I don't understand when people say a given coin is "easier" or "harder" to mine (assuming the PoW algorithm being the same). The more worth the coin, the higher the difficulty. The ratio between the capital in (electricity + equipment) and the capital out (mining reward) should stay roughly the same over a long enough time period.
Whether that mining reward will become worth more or less in the future, is just speculation.
Aeon is easier to mine with CPU compared to other coins thanks to the CryptoNight-Lite PoW algorithm, which is the main reason why I like this coin.

Both sides are right.
It is getting harder to mine (one gets fewer coins as difficulty is getting higher in time). Cannot combat this argument, but...
At the same time as you stated capital in vs out should be balanced, therefore it is not "harder".
It's like looking at a 9 or at a 6, depends on which side you are.
We are all speculators here.

[stoffu]

We are all speculators here.

Not everyone is speculating (on prices). I choose to get involved with Aeon and Monero because I see a real hope in here to make a difference in this corrupt world.

[korm]

I did not notice a big difference. ~1 dollar/day for 1kH/s

[overboost]

We are all speculators here.

Not everyone is speculating (on prices). I choose to get involved with Aeon and Monero because I see a real hope in here to make a difference in this corrupt world.

I did not expressed myself correctly. I wanted to point out that all these alts/btc ratio is like a big speculative investment.
I also believe in xmr and aeon, but i look at all cryptos as speculative, i'm not cashing out.

EDIT: Have you guys seen the unrealistic rise of sumokoin, in 2 days from $2 to $10.
I don't know what to say about the project, something is bugging me not to invest.

[overboost]

buy aeon fast before hit 45$ 

This.
Let's ride the waves!
Transfer wealth from the impacient to the pacient :-)

[exciter.0]

Hi everyone!

Sorry to cut in on the excitement...
I just wanted to let you know that I've fulfilled my commitment of 10,000 AEONs toward the rebase effort.
I've contacted Smooth and he suggested that I send it to the dev fund address to be distributed:

Here's the transactions

Code:

[wallet WmsiVi]: transfer 3 WmsSWgtT1JPg5e3cK41hKXSHVpKW7e47bjgiKmWZkYrhSS5LhRemNyqayaSBtAQ6517eo5PtH9wxHVmM78JDZSUu2W8PqRiNs 10000
Your transaction needs to be split into 3 transactions.  This will result in a fee of 0.030000000000.  Is this okay?  (Y/Yes/N/No)y
Money successfully sent, transaction <1ec47d32fb69a21c1000953539c53001306cfd8fcc0b8517df77bb4dd60a6658>
Money successfully sent, transaction <23bce41acab52b715371426b0cbe396e02c9f972738b00d40f44cab5f9bf4fcd>
Money successfully sent, transaction <033f92b5f4ef52e351e9da4956073bc713ca85bb62c8bb5efd608dc0a0320fd4>
[wallet WmsiVi]:

Now I'm a poor man but I'm excited for AEON's future!

[smooth]

I've contacted Smooth and he suggested that I send it to the dev fund address to be distributed:

Yes that's right and I noted in replying that if for whatever reason the bounty isn't awarded then it will be returned from the donation fund to exciter0

[korm]

buy aeon fast before hit 45$ 

This.
Let's ride the waves!
Transfer wealth from the impacient to the pacient :-)

why suddenly such a price jump?

[pulsedriver]

Still no GUI wallet?

[overboost]

why the hurry?
a lot of good coins had released gui after more than 1 year.
at this moment there are other issues to take care of.