[ANN][1CR] 1CRedit Coin Relaunch

[dnaleor]

I wonder if it's hard to for example fork MyCelium and get mobile wallets as well.

Or maybe we can contact Coinomi wallet / Shapeshift to add us?

1Credit is a very small coin still, but it's fairly launched and deserves more exposure.

edit: adding it to coinomi doesn't seem that hard: https://coinomi.com/AddingSupportForANewCurrency/

[no-ice-please]

I wonder if it's hard to for example fork MyCelium and get mobile wallets as well.

Or maybe we can contact Coinomi wallet / Shapeshift to add us?

1Credit is a very small coin still, but it's fairly launched and deserves more exposure.

edit: adding it to coinomi doesn't seem that hard: https://coinomi.com/AddingSupportForANewCurrency/

Coinomi looks pretty cool.  

Fairly launched is rare. No doubt Cassey has been mining off and on since day 1, but if somebody mines now for a year they get the same reward as somebody who mined the first year got. Very rare.

Important too that people realize no coins at this point are distributed "fairly". Every coin has whales and minnows. But with a coin like this the whales are probably benign and will always be looking at many things beside price.

[Cassey]

A bit of good news:

I just uploaded a 9.9.23 Windows build.  Follow any of the links to get it.

This was built with the latest OpenSSl 1.0.2g library, which was my primary concern.  Less worried about having the latest BerkelyDB or Boost type libraries, which is what caused grief before.

Also slightly updated the website.

BTW - The coin is rapidly coming up on its 2nd birthday.  10 days to go!

ps.  Again, total coin count is simply the block number, since there is 1 coin per block, and there was zero pre-mining.

pps.  I sent an update request into coinmarketcap.com

[Cassey]

Need some help on the webpage to get the block number to show.

I'm a (part time) C++ programmer, not a web developer.  The current site is built using Weebly, because it looked decent, was easy to do, and I use it for the family farm website so am fairly familiar with it.

Is there a way to query the block explorer at https://prohashing.com/explorer/1CRedit/ and have it just return the block number?  If so, I could add that link to the website...

[Cassey]

Appreciate the input and will check it out.

Not sure that site existed 2 years ago, much has changed since then <smile>

[dnaleor]

BTW - The coin is rapidly coming up on its 2nd birthday.  10 days to go!

2 years means that year 3 would have a theoretical inflation of 33%. it's going down fast!

Year 0->1: NaN
Year 1->2: 100%
Year 2->3: 50%
Year 3->4: 33%
Year 4->5: 25%
...
Year 10->11: 10%
...
Year 50->51: 2.5%
...
Year 100->101: 1%
...

[Cassey]

Verses what?  Some coins have half-lives of a month or less, when the author is trying to hog everything...

I like looking at it the other way:  If someone came in now, and mined ALL the coins in year 3, they could still own 33% of the coins.  How many other coins can say that?  e.g.  Year 3 people still have a good chance to own a significant portion.

[dnaleor]

Verses what?  Some coins have half-lives of a month or less, when the author is trying to hog everything...

I like looking at it the other way:  If someone came in now, and mined ALL the coins in year 3, they could still own 33% of the coins.  How many other coins can say that?  e.g.  Year 3 people still have a good chance to own a significant portion.

I think none, except 1CR

[dnaleor]

[Cassey]

<smile>  Thanks...

You know, its support like this that makes running the coin worthwhile.  Its not about making a huge profit, very few coins ever do that, its about the community that forms around the coin.  Thanks again.

(I have to relay one short story:  There are dozens of people who want to write a coin for ever one that actually does.  Those that do are often contacted by those that don't and given sob stories on why we should do something for them.  My favorite was "I don't have the time to develop my own coin, but I have a great idea:  merge the features of coin X with those of coin Y.  I'll give you half of the pre-mine!".  I pointed out that both X and Y were junk coins...  the response I got was "Look, I'm not trying to change the world, I just need a quick coin to pay my rent with... then I write something serious."  I didn't write back.)

[Cassey]

The worst people and the best people are both doing the best they know. In a few years algorithms and attitudes will adapt and develop, then 1credit will be considered barely ahead of any other coin from this era.

so don't get conceited 

No worries there.  When I finished my BS in Applied Math (closest thing to a Comp. Sci degree available back in the 70s) I thought I knew everything there was to know about computers.  Half-a-dozen years later (I did it at night) I received my MS in Comp Sci and realized I didn't know shit about anything.  That pretty much sums up the value of the MS since few of the technologies are relevant anymore (but I can tell you how to do hidden line removal on a vector-graphics display!  OK, OK... I can still probably write a context-free grammar based language if I really wanted to.)

All my coins are what they are:  tweaks of Litecoin (IMACredit is a serious tweak of Vertcoin, which was originally based on Litecoin) and efforts that took from months to weekends to create.  Nothing more, nothing less, beyond the fact that I still care enough to support them a couple of years later and still have friends that help.

[brokedummy]

I once had 5000 1CR, but sold some cheap before the recent price rise. You might think that was a bad trade but perhaps I also motivated the recent pump and I was able to sell some high also. Current trade analyzer profits of about 2.4 btc and 550 1cr left under my control. I'd still like to participate in the coin. Any recommendations of miners to purchase that would be well suited to 1CR? I have an old R9 290 graphics card but I think the electricity consumption would be way too high for 24/7 1CR mining.

[Cassey]

I once had 5000 1CR, but sold some cheap before the recent price rise. You might think that was a bad trade but perhaps I also motivated the recent pump and I was able to sell some high also. Current trade analyzer profits of about 2.4 btc and 550 1cr left under my control. I'd still like to participate in the coin. Any recommendations of miners to purchase that would be well suited to 1CR? I have an old R9 290 graphics card but I think the electricity consumption would be way too high for 24/7 1CR mining.

Well, good news, bad news on the miner front.  

Good news:  Any of the ASIC Scrypt processors from 2015 will do just fine:  Old GAW miners (Furys, Black Widows, War Machines,  Zues, A2s, Gridseeds, etc.)  Most of the Zeus based machine are similarly efficient, running about 32-40 watts per MH of Scrypt.  The A2s are quite a bit better at 7-8 watts per MH, but had a history of catching fire.  Of course, anything that has survived this long is probably safe...  Found an A2 on e-bay for $700 - not cheap, but one of (if not) the fastest ASIC boxes out there for Scrypt at 110MH/sec.   Hmmm, 1100 watts so 10 watts per MH.  Suppose that makes sense, the original model was 80 MH/sec and they likely overclocked - which is productive, but never as efficient.  At the other end of the spectrum, you can find GAW Furies for like $20 without a power supply - but a good PC supply can drive 10 (3 per PCI-E connector with adapters at about 60W each).

Bad news:  Nobody has made anything new in quite some time, so compared to modern SHA256 stuff, like a Antminer S7, your going to lose money per $ of electricity consumed.  Also, using a GPU is no longer cost effective against any of those 2015 ASICs by an order of magnitude or two.

FWIW - I currently have a pair of Black Windows running to support 1Credit and a pair of Furies running on YACCoin (which has a bigger base network).  

[no-ice-please]

-----

[Cassey]

That might explain a block or two, but not more than that I would think.

[no-ice-please]

Kind of silly, somebody has an order to buy 10 million 1credit at 20 sats https://poloniex.com/exchange#btc_1cr

There are only 48,186 1credit coins so chances they will actually manage to buy 10,000,000 of them are very very slim.

But before that person even has a chance it would have to drop through 200 (somebody buying 500,000) and 197 (somebody buying 1,705,928) and 100 (somebody buying 2,564,051), sort of like people placing orders to buy 50 million bitcoin at a penny each.



Whoever is buying so much of it I hope they do well as it's a good coin, but it would be nice to start some kind of new project with 1CR and similar higher quality coins.

Dnaleor's ideas

I wonder if it's hard to for example fork MyCelium and get mobile wallets as well.

Or maybe we can contact Coinomi wallet / Shapeshift to add us?

1Credit is a very small coin still, but it's fairly launched and deserves more exposure.

edit: adding it to coinomi doesn't seem that hard: https://coinomi.com/AddingSupportForANewCurrency/

are good conventional ways to popularize a coin but maybe there are less conventional options too.

-

The original idea of 1credit, aside from the game, was for it to be used as an investment, like a meta currency?

[Cassey]

The original idea was for a long-term investment - a safe harbor if you will.  At the time the coin was started there was a serious problem with wild valuation problems due to mutli-coin mining sites.  They would check valuations every 15 minutes or so mine, then dump, whichever coin was most profitable.  1Credit was design to resist that by having a large variation in its difficulty and resulting block times - making it hard to predict for those sites.  That part remains working as planned:

Everyone has seen "long blocks" on bitcoin, which likely has hundreds of thousands of miners, if not millions, working against it.  Although bitcoin is suppose to have a 10 minute block time, its not unheard of it having "long blocks" that take hours to find.

1Credit, with its much small pool of miners, has a slightly shorter block time (about 8.5 minutes), but by design encourages a both short and long block times.  When you look at it over a period of a month or three, it averages out to its design time, but over a period of hours or days swings all over the place, sometimes with a "long block" taking more than a day to find.  This makes is horrible as a bitcoin replacement - since confirmations can take a long time, but is not a problem as an "archival" coin, where you may only do a few transactions a month.  Its a niche, but seems to have found some backing.

[no-ice-please]

The original idea was for a long-term investment - a safe harbor if you will.  At the time the coin was started there was a serious problem with wild valuation problems due to mutli-coin mining sites.  They would check valuations every 15 minutes or so mine, then dump, whichever coin was most profitable.  1Credit was design to resist that by having a large variation in its difficulty and resulting block times - making it hard to predict for those sites.  That part remains working as planned:

Everyone has seen "long blocks" on bitcoin, which likely has hundreds of thousands of miners, if not millions, working against it.  Although bitcoin is suppose to have a 10 minute block time, its not unheard of it having "long blocks" that take hours to find.

1Credit, with its much small pool of miners, has a slightly shorter block time (about 8.5 minutes), but by design encourages a both short and long block times.  When you look at it over a period of a month or three, it averages out to its design time, but over a period of hours or days swings all over the place, sometimes with a "long block" taking more than a day to find.  This makes is horrible as a bitcoin replacement - since confirmations can take a long time, but is not a problem as an "archival" coin, where you may only do a few transactions a month.  Its a niche, but seems to have found some backing.

Currencies have a lot of potential functions.

If I were to look at the attributes of 1Credit

*Very fair non commercial features
*No premine
*No block halving
*Not designed for 'transactions', rather for continuity/stability
etc

I would suggest using it as a sort of meta currency to connect the values of other currencies.

Bitcoin, litecoin etc have a lot of uses. you can buy things directly on some sites. You can convert them to fiat and buy things indirectly, etc.

One major use of bitcoin is to connect other currencies. For example if you want to convert Piggycoin to Soilcoin you first look at each in terms of bitcoin. Bitcoin is not great for that, since it is so volatile relative to the practical currencies people use for actual life (i.e., fiat), but at this point fiat is not useful for purchasing altcoins directly, nor for measuring their value reliably.

1Credit seems like it would be a good choice as a sort of 'token' to encourage liquidity across currencies. It is very cheap right now, market cap ~usd $9,000 https://coinmarketcap.com/currencies/1credit/ and wide open for any kind of project a person wanted to start with an unusually high quality coin.

The vast majority of coin projects never make it, and maybe building exchanges around something with features other than those of btc/ltc and/or fiat would not work. But it's one idea somebody might use 1credit for.

[cryptofarmer]

1Credit Now Live on
www.mining-dutch.nl

Diff: 8192      | stratum+tcp://mining-dutch.nl:3343   
Vardiff           | stratum+tcp://mining-dutch.nl:3443   
Diff: 16382     | stratum+tcp://mining-dutch.nl:3543

Happy mining.

[Cassey]

Thank you adding the coin!