Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come

[Videlicet]

Is there any IPO here? What new does your project offer to us and why would anyone mine the coins?

Why would anyone mine a coin? To get a piece of the action. What is offered to the community is a voice, and a movement in which everyone can direct their efforts in a coordinated manner to clean up the marketplace. I am the one doing all the programming, so any more questions I'll be happy to answer. The biggest thing Coinshield has that every other coin doesn't, is a purpose. Now it has a function in the community, just like anything of innovation should have. Even some coins that do have programmed innovation generally only stop there. The new innovations are going to come in the form of what is necessary for the growth and fruition of Bitcoin, and others Alike.

EDIT: No IPO, really puts on a bad name =/ this is only because it has been a targeted vector for scams, otherwise is a beautiful part of the free market [successfully implemented in a system with a pinch of regulation].

I love the use of 'shitcoin' in the op and this is an interesting idea.

As for GPU algos, why not skein or groestl?

What are advantages / comparisons between skein or groestl and any other GPU algorithm?

[Explain More] So we can all know

~Videlicet

I am looking for reputable sources for my claims but skein has a much higher hashrate with less energy than scrypt and grostl is less higher hash but much more energy efficient. If I can't find solid proof in these fourms today then I will do a quick test tonight to double check. Memory serves using the python skein miner my 270x never broke 50C though... I mean it was a mind blowing difference on heat generated.

Very good information my friend, and much appreciated. Now it seems both of these hashing functions are very energy efficient, and I am starting to think about combining these two algorithms, and maybe one more of the same efficiency, to develop an energy efficient, ASIC/FPGA resistant GPU algorithm. Any other hashing functions that you know of that have similar effects of skein and groestl?

~Videlicet

[gatra]

I want to know, If i hold shitcoin, and want to sell it, why do not i sell in market to get btc? Why i should choose Coinshield channel system? what is advantage ？

A] If you watch the timer for channel opening, the trade value of CSD/SHIT will be higher than going trade value at launch, so early entry means you are freed of your SHIT with PROFIT

B] If you hold CSD instead of SHIT after using channel, its value will increase from the CSD buy orders going in from the SHIT being dumped, and if you time it correctly, you can then have MORE PROFIT as CSD price will increase upon SHIT DUMP

C] You no longer have to convince yourself that what you hold has VALUE, because you will help clear away the SHIT from the economies, and gain a good investment in return.

mmm.... I still don't understand [A].... why would the value be higher? who would give me more than market value for my shit and why? If it's true that I could be freed of my shit with profit, then maybe I should buy shit! it doesn't make much sense. If you are giving away CSD for shit, then wouldn't the value of CSD be as low as shit?

Be careful: for most shitty shit, there may not be enough buy orders to allow you to sell all your shit. So instead of getting BTC to buy CSD, you could end up holding a bag of shit.

[gjhiggins]

Could you outline the starting position - are you starting from 0 and accepting petitions or do you already have a candidate list by any chance? If the latter, could you please publish your criteria?

Cheers

Graham

[dbt1033]

Very excited about Coin Shield!  Everybody check out their forum...it's really nice.

[KryptoKash]

I want to know, If i hold shitcoin, and want to sell it, why do not i sell in market to get btc? Why i should choose Coinshield channel system? what is advantage ？

A] If you watch the timer for channel opening, the trade value of CSD/SHIT will be higher than going trade value at launch, so early entry means you are freed of your SHIT with PROFIT

B] If you hold CSD instead of SHIT after using channel, its value will increase from the CSD buy orders going in from the SHIT being dumped, and if you time it correctly, you can then have MORE PROFIT as CSD price will increase upon SHIT DUMP

C] You no longer have to convince yourself that what you hold has VALUE, because you will help clear away the SHIT from the economies, and gain a good investment in return.

mmm.... I still don't understand [A].... why would the value be higher? who would give me more than market value for my shit and why? If it's true that I could be freed of my shit with profit, then maybe I should buy shit! it doesn't make much sense. If you are giving away CSD for shit, then wouldn't the value of CSD be as low as shit?

Be careful: for most shitty shit, there may not be enough buy orders to allow you to sell all your shit. So instead of getting BTC to buy CSD, you could end up holding a bag of shit.

Coinshield trade channels will use a highly advanced trade algorithm. It will take into account several factors, including value of both coins and the current buy orders of the shitcoin, as well as how many of the total supply we have already traded in and dumped. As we dump more of the coin it will decrease in value and the BTC that is generated will be automatically used to build buy walls (increase CSD value) which in turn will cause future trade in offers/value to be lower then the ones prior. This is just a brief outline on how it will work, Videlicet will explain more about this when he returns.

Could you outline the starting position - are you starting from 0 and accepting petitions or do you already have a candidate list by any chance? If the latter, could you please publish your criteria?

Cheers

Graham

We will be starting at 0. Anyone can submit a petition. If the community agrees with you and supports your petition then the coin is deemed a shitcoin and will be put to into our voting system. From there the worst shitcoin (the coin with the most votes) will get its own trade channel. Coinshield will then begin to absorb their economy and destroy the coin.

[Videlicet]

I want to know, If i hold shitcoin, and want to sell it, why do not i sell in market to get btc? Why i should choose Coinshield channel system? what is advantage ？

A] If you watch the timer for channel opening, the trade value of CSD/SHIT will be higher than going trade value at launch, so early entry means you are freed of your SHIT with PROFIT

B] If you hold CSD instead of SHIT after using channel, its value will increase from the CSD buy orders going in from the SHIT being dumped, and if you time it correctly, you can then have MORE PROFIT as CSD price will increase upon SHIT DUMP

C] You no longer have to convince yourself that what you hold has VALUE, because you will help clear away the SHIT from the economies, and gain a good investment in return.

mmm.... I still don't understand [A].... why would the value be higher? who would give me more than market value for my shit and why? If it's true that I could be freed of my shit with profit, then maybe I should buy shit! it doesn't make much sense. If you are giving away CSD for shit, then wouldn't the value of CSD be as low as shit?

Be careful: for most shitty shit, there may not be enough buy orders to allow you to sell all your shit. So instead of getting BTC to buy CSD, you could end up holding a bag of shit.

Coinshield trade channels will use a highly advanced trade algorithm. It will take into account several factors, including value of both coins and the current buy orders of the shitcoin, as well as how many of the total supply we have already traded in and dumped. As we dump more of the coin it will decrease in value and the BTC that is generated will be automatically used to build buy walls (increase CSD value) which in turn will cause future trade in offers/value to be lower then the ones prior. This is just a brief outline on how it will work, Videlicet will explain more about this when he returns.

Could you outline the starting position - are you starting from 0 and accepting petitions or do you already have a candidate list by any chance? If the latter, could you please publish your criteria?

Cheers

Graham

We will be starting at 0. Anyone can submit a petition. If the community agrees with you and supports your petition then the coin is deemed a shitcoin and will be put to into our voting system. From there the worst shitcoin (the coin with the most votes) will get its own trade channel. Coinshield will then begin to absorb their economy and destroy the coin.

As a followup:

The CSD will only be given under value for a few trades at initial channel opening, this will help to reward those that have been patiently watching the channels. The value of CSD will be increasing as this is happening [BTC Buy Walls], so you can ensure you aren't holding the bag of shit, as CSD will be absorbing the market cap of the said [shit]coin.

As for the buy orders, that will be taken into account with the decay equation regulating the trade value of channel, so that CSD is not negatively effected by any destruction of a shitcoin. The decay equations purpose is to accurately reflect the value of CSD/SHIT as the SHIT economy is crashing.

By the way gatra, I love your code in Reicoin

~Videlicet

[gatra]

By the way gatra, I love your code in Reicoin

~Videlicet

thanks! good luck with your shit absortion

[Videlicet]

By the way gatra, I love your code in Reicoin

~Videlicet

thanks! good luck with your shit absortion

it's now OUR shit absorption =)

[gjhiggins]

Coinshield lets users vote in any shitcoin to our system.

Just checking my understanding: in this context "users" are registered users of the coinshield.org forum?

Cheers,

Graham

[Videlicet]

Coinshield lets users vote in any shitcoin to our system.

Just checking my understanding: in this context "users" are registered users of the coinshield.org forum?

Cheers,

Graham

Yes you are correct [well mostly], to clarify the process a little further, here is some [optional] detail:

Registration is only for coinshieldtalk.org, which is where the petitions are started. From there, the voting channel will be on the main site which will not require login, it will be regulated per IP. As for the exchange into an active channel, you will be supplied a deposit address, and will then deposit coins to that address. Once the system receives your transaction, you will receive a transaction of CSD to your deposit address. Keep in mind directly after the SHIT hits your supplied deposit address, it will be immediately transfered to the Exchange Deposit Address for Verification [this address will never change once channel is opened, but there may be more than one if the SHIT is on more than one exchange].

Your user account for the Coinshield Channels will be your CSD deposit address, no password because incentive to hack is none as you control your CSD deposit address. Personal stats for your channel will be added as the system gets developed, which is being programmed from scratch [By Me]. The channels will operate on our own Encrypted Database Server [coded by me], which I am planning on releasing open source when the timing is correct.

Hope this helps,
~Videlicet

[W0rkH0rse]

what is the point of the Coin    

It's an elaborate pump and dump scheme where your hard work guarantees the dev and a few whales make out like bandits while you buy the stockpiles of worthless coins they have been preparing. But they did it very cleverly. Most people will stop reading the ANN after the mathematical Ropedope:

Mathematically Regulated with slight Inflation
1 Minute POW, 10 Minute POS transitioning to 10 Minute POW, 1 Minute POS 50 * e^(-0.0000011 * nHeight * [Chain Time Modular]) + 3 Channels - Coin Trade in:10 * e^(-0.00000055 * nHeight * [Chain Time Modular]) + 3

Oh thank goodness it's mathematically regulated rather than hamster wheel regulated or brutal dictator regulated.

Block Reward Developers]:1 * e^(-0.00000059 * nHeight * [Chain Time Modular]) + 0.1

At least a premine only happens once but this is worse: a Postmine lasts forever

Constellation Primes [CPU] and X11 [GPU]
Shield Target [Chain, Channel, and Time Proportions]
3 Week Age, 3 Year Limit, 3% Annual Inflation
Coinbase Maturity: 360 Blocks ~ 6 Hours
Transaction Confirmation: 5 Blocks ~ 5 Minute

They could have said  "Confirm Time: 60 seconds" but obviously this was all intended to daze and confuse those the devs consider intellectually gullible and inferior (i.e. You and I)

Then you enter the psychological infomercial:
                   --------------------------------------           ---------------------------------
The Problem: |     Too many coins are worthless.        |        |         Tough dirt and stains.      |
                  |-------------------------------------- |         ---------------------------------
The solution: |Buy the most worthless coins and make |        | Use OxyClean With Scrubbing     |
                  |the shitcoin devs and bagholders rich]   |        | Bubble Super Nano Technology   |
                   ---------------------------------------         |--------------------------------|
                  | Your mining pays Devs a % per block & |        |                                             |
How it works:|also buys their worthless shitcoin bags  |        |                  (bleach)                |            
                   --------------------------------------           ---------------------------------
                  |                                                      |        |                                             |
Verdict:        |       Its a win win for the devs!           |        |    My underwear is less yellow    |  
                    --------------------------------------          ---------------------------------

[Videlicet]

what is the point of the Coin    

It's an elaborate pump and dump scheme where your hard work guarantees the dev and a few whales make out like bandits while you buy the stockpiles of worthless coins they have been preparing. But they did it very cleverly. Most people will stop reading the ANN after the mathematical Ropedope:

Mathematically Regulated with slight Inflation
1 Minute POW, 10 Minute POS transitioning to 10 Minute POW, 1 Minute POS 50 * e^(-0.0000011 * nHeight * [Chain Time Modular]) + 3 Channels - Coin Trade in:10 * e^(-0.00000055 * nHeight * [Chain Time Modular]) + 3

Oh thank goodness it's mathematically regulated rather than hamster wheel regulated or brutal dictator regulated.

Block Reward Developers]:1 * e^(-0.00000059 * nHeight * [Chain Time Modular]) + 0.1

At least a premine only happens once but this is worse: a Postmine lasts forever

Constellation Primes [CPU] and X11 [GPU]
Shield Target [Chain, Channel, and Time Proportions]
3 Week Age, 3 Year Limit, 3% Annual Inflation
Coinbase Maturity: 360 Blocks ~ 6 Hours
Transaction Confirmation: 5 Blocks ~ 5 Minute

They could have said  "Confirm Time: 60 seconds" but obviously this was all intended to daze and confuse those the devs consider intellectually gullible and inferior (i.e. You and I)

Then you enter the psychological infomercial:
                   --------------------------------------           ---------------------------------
The Problem: |     Too many coins are worthless.        |        |         Tough dirt and stains.      |
                  |-------------------------------------- |         ---------------------------------
The solution: |Buy the most worthless coins and make |        | Use OxyClean With Scrubbing     |
                  |the shitcoin devs and bagholders rich]   |        | Bubble Super Nano Technology   |
                   ---------------------------------------         |--------------------------------|
                  | Your mining pays Devs a % per block & |        |                                             |
How it works:|also buys their worthless shitcoin bags  |        |                  (bleach)                |            
                   --------------------------------------           ---------------------------------
                  |                                                      |        |                                             |
Verdict:        |       Its a win win for the devs!           |        |    My underwear is less yellow    |  
                    --------------------------------------          ---------------------------------

I understand your skepticism, is there any way I can help you to understand the process better? If you are suggesting to lighten the details on the coin spec page, I would tend to agree [I can get a little too detailed sometimes]. As for the idea of "pre-mine", there is none. There will be no possibility of a PUMP N DUMP, as it will take 10 years for Developer Account to reach a balance of ~2.2% of total supply, and there after equations decay you are left with:

REWARD[MINERS] = 3
REWARD[CHANNELS] = 3
REWARD[DEVS] = 0.1

3+3+0.1 = 6.1
0.1/6.1 = 1.6% [max dev fee after 10+ years]

Now these are the minimum values that will be used after the supply decay equations reduce to their minimum. This protects the investment for others [as it would take over 10 years to be able to PUMP AND DUMP with any effect]. "Pre mines" on the other hand, give large sums of coin instantly [average of 2%], that usually aren't balanced with the miner supply until many months after coin takes off, leaving the community vulnerable to any PUMP and DUMP scheme the dev has up their sleeve.

I appreciate points being made like this, because you are only looking out for the best interests of the community, and are protecting the decency that should be involved in Crypto Currencies... you will find in time, that this is precisely our mission.

Thank You,
~Videlicet

EDIT: I created a graphing program that I used to design the decay equations, if you would like to see it for yourself [The Program], with the equations mapped over time, don't hesitate to ask  

[IMJim]

I have to say you are doing a hell of a job responding respectably to all the critique here!  You have for sure proven to me that you are a GREAT person to represent and speak for this project!!

[coinsolidation]

define "chain time modular", that has a huge bearing on how this rewards..

[W0rkH0rse]

Look, you guys, I want you to suceed but your mining pays Devs a % per block which allows them to constantly sell this coin into the "Buy Walls" which should be renamed "Permanent Dev Dump Cash Bonanza."

Oh what? You get your own channel and a vote? Cool story bro. Beware, this whole pitch reeks of the
"One paragraph I use prepositional phrases perfectly and the next I pretend not to speak english" coingen crew.
And minipulation of all markets to make your one coin succeed is the biggest bucket of bullshit I've ever heard.

[Videlicet]

I have to say you are doing a hell of a job responding respectably to all the critique here!  You have for sure proven to me that you are a GREAT person to represent and speak for this project!!

Thank You, I appreciate the kind words

define "chain time modular", that has a huge bearing on how this rewards..

Chain Time Modular is a Percent of Chain Time, so it would be ActualChainTime/TargetChainTime
This will keep the coin distribution curve on a time based model, rather than block based.

Think of it as such: as the block time gets faster than target time, the reward will be reduced to allow the same distribution curve over more blocks.

Look, you guys, I want you to suceed but your mining pays Devs a % per block which allows them to constantly sell this coin into the "Buy Walls" which should be renamed "Permanent Dev Dump Cash Bonanza."

Oh what? You get your own channel and a vote? Cool story bro. Beware, this whole pitch reeks of the
"One paragraph I use prepositional phrases perfectly and the next I pretend not to speak english" coingen crew.
And minipulation of all markets to make your one coin succeed is the biggest bucket of bullshit I've ever heard.

This is one issue, that can only be resolved in time when you see us true to our vision. This fee [as is your main issue], will cover our cost of living, pay for servers costs which have come from our own pocket, and allow us the time to develop correctly the coin, the channels, and the voting system [let alone allow me to continue to develop for the years to come].

This is why we are happy to change the equation to a more suitable number if you feel 1.6% is too large, because everyone's opinion counts here.
This coin is for the community, so therefore its features should justly be decided by the community as well.

Thank You,
~Videlicet

[W0rkH0rse]

Ok, I'll stop bashing you now. Can we look at the code please?

[coinsolidation]

define "chain time modular", that has a huge bearing on how this rewards..

Chain Time Modular is a Percent of Chain Time, so it would be ActualChainTime/TargetChainTime
This will keep the coin distribution curve on a time based model, rather than block based.

Think of it as such: as the block time gets faster than target time, the reward will be reduced to allow the same distribution curve over more blocks.

Define a hard range for the value. <1, 1-100, 1-10000 etc.

[Videlicet]

Ok, I'll stop bashing you now. Can we look at the code please?

What part of the code would you like to see?

define "chain time modular", that has a huge bearing on how this rewards..

Chain Time Modular is a Percent of Chain Time, so it would be ActualChainTime/TargetChainTime
This will keep the coin distribution curve on a time based model, rather than block based.

Think of it as such: as the block time gets faster than target time, the reward will be reduced to allow the same distribution curve over more blocks.

Define a hard range for the value. <1, 1-100, 1-10000 etc.

M >=0 and M <= 1.

~Videlicet

[coinsolidation]

Define a hard range for the value. <1, 1-100, 1-10000 etc.

M >=0 and M <= 1.

[/quote]

so after one hour:
50 * e^(-0.0000011 * 60 * 0.1) + 3 = 52.99
50 * e^(-0.0000011 * 60 * 0.5) + 3 = 52.99
50 * e^(-0.0000011 * 60 * 0.99) + 3 = 52.99

and after 5 years:
50 * e^(-0.0000011 * 2628000 * 0.1) + 3 = 40.44
50 * e^(-0.0000011 * 2628000 * 0.5) + 3 = 14.78
50 * e^(-0.0000011 * 2628000 * 0.99) + 3 = 6.707

okay.

How does the transition from PoW to PoS work, and over what time/block period?