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Author Topic: Bitmark  (Read 600509 times)
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amarha


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June 27, 2014, 08:20:02 PM
 #41

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Flow of Money: Given that scrypt based ASICs are beginning to flow on to the mining hardware market, we suppose most mining entities will be pools powered by individual miners (people or organizations). This should ensure that in the majority of cases (and as Bitmark adoption grows) no single miner can achieve more than 1 Bitmark from a successfully mined block, with the average being measured in Marks, rather than Bitmarks. This should do much to mitigate hoarding, dumping, market manipulation, and all those things entail. Since Bitmark is designed to be a daily use currency, this fair distribution and flow of money is of vital importance.

Do you think that it's more likely now that scrypt ASICs are here(or soon to be) that we'll see more individuals getting more than your intended share per block?

Do you think ASICs are a net benefit or do they pose more danger to the network?
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coinsolidation
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June 27, 2014, 08:46:13 PM
 #42

Thank you for your replies.

Personally I much prefer the old milli and micro system over bits(or marks in this case). I think it's pretty confusing as it will be natural for people to want to call a bitmark a mark.

I know Bitcoin is moving towards denominating bitcoins in bits instead of millibits now. But I thought I'd at least voice my opinion on this.

1 bitmark / 0.01 centimark(markcent maybe?) / 0.001 millimark / 0.000001 micromark / 0.00000001 a coinsolidation Tongue

It would be nice to keep things as simple as possible. With three primary units. 1, 0.001, 0.000001. Each one relating to a potential parity milestone.

For common usage, each primary unit could have cents, as we experience commonly in life.

Using the existing proposed language:

  • 1. 1.9x Bitmark
  • 2. 1.9x Mark
  • 3. 1.9x Markbits

So I guess a name for the "cent" (x above) in relation to each primary unit would be good.

1. I will suggest that whilst dealing with entire coins people are familiar with 8 units of precision, and thus we do not need a name for the first case.

2. Is may be the most common, I like your suggestion of cents, Markcents. This makes sense to me.

3. The final unit with two decimal places (currently called a markbit) has a cent value which corresponds to a satoshi.

I feel milli, and micro, in relation to currency conjures the notion of limited or meaningless value. Even though as a programmer I like the terms.

This must appeal to a wider audience.

For now perhaps Bitmark, Mark, and MarkCent are enough to define. Do you agree?

Quote
Flow of Money: Given that scrypt based ASICs are beginning to flow on to the mining hardware market, we suppose most mining entities will be pools powered by individual miners (people or organizations). This should ensure that in the majority of cases (and as Bitmark adoption grows) no single miner can achieve more than 1 Bitmark from a successfully mined block, with the average being measured in Marks, rather than Bitmarks. This should do much to mitigate hoarding, dumping, market manipulation, and all those things entail. Since Bitmark is designed to be a daily use currency, this fair distribution and flow of money is of vital importance.

Do you think that it's more likely now that scrypt ASICs are here(or soon to be) that we'll see more individuals getting more than your intended share per block?

Do you think ASICs are a net benefit or do they pose more danger to the network?

If we consider coins with longevity in mind. Bitcoin and Litecoin, ASICs have done much to solidify the networks strength. With natural sustained growth I hope the hash rate would continue to rise. Scam, clone or pump and dump coins have problems with them, but this is not such a project. There has been a substantial investment in mining hardware for scrypt based coins, we should not ignore this, and I feel there is an opportunity to put all that hardware to good use, a use which secures the network and gives investors in this hardware a return on their investment.

My main concern is really the first day(s). For this reason I propose a high diff to start.

1. ASICs should ensure each party get's a more even share of the block rewards.
2. Net benefit, and strengthen.

Ask this question in relation to bitcoin, same answers apply.

Please do keep questioning and discussing, and thank you for your replies Smiley

edit: from another thread.

Why "Total Supply: ~ 27.58 million coins" ? and not exact 27 or 27,5 mil.


(I know it´s idiotic )

This is a good question, thank you.

I have not yet decided exactly which block reward will be the last, or whether to just keep halving until it's infeasible to halve any more. After a certain point when transactions are covering the mining costs the block reward is more of a bonus.

Is there any reason you feel a round number would be better?

I can do the numbers and work out the final few block rewards and assign a cut off block which equates to a round number. Potentially a round number of Marks, so 27.5xx million coins, to three decimal places.

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amarha


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June 28, 2014, 11:36:30 AM
 #43



I feel milli, and micro, in relation to currency conjures the notion of limited or meaningless value. Even though as a programmer I like the terms.

This must appeal to a wider audience.



That is a good point that I haven't considered before. Logical isn't always necessarily the best option.
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June 28, 2014, 04:49:15 PM
 #44

ASICs

Coming back to this. I've noticed an abundance of threads like this. To me they read that there's a growing and improving amount of scrypt hardware out there, which can be used to secure the network. Combined with the user focussed approach to make Bitmark an every day usage coin, it appears all the elements are there just waiting to be utilized.

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June 28, 2014, 07:43:17 PM
 #45

I've added https://github.com/coinsolidation/bitmark/wiki/Scratchpad a place for some thoughts. Copied here:

Thoughts which need fleshed out

* Option to run on Random Port instead of Static.
* x509 certificate based authentication for http+tls api
* focus on https+tls (https) api
* modular extensible design, focus on light fast daemon where apps interface through api
* web based management interface, needs tight security, consider apps as agents with their own auth details
* ui easy to access like webmail, hooks in to the api of whichever node is specified
* bitcoin's old ip transactions is an abstract request payment address api which could be updated and run with urls
* one time addresses can be proven by provider signing it with a key they are known to own
* need neat api call to show chain download progress, block xxx of yyy
* maybe x509 certificates can be used to provide rsa encryption for messages, so messages are optional and require no processing weight to clients, but can be access if available and supported.
* signing one time use addresses is important, prevents against mitm attacks on payments
* messages relating to transactions can be detached and sent by different communication methods, a hash of them can be put in transaction as proof of their validity
* worry over reliance on dns for dnsseeds, there should be another way
* bitcoin design was based on everybody running a node, block time had to account for huge network latency, with increase in spv clients and api clients it can rationally be decreased
* existing services are important, but new services can be created to accept bitmark, file hosting is always important
* faucets which deliver free coins that can be used to purchase real services drives adoption, ensure rate limiting by ip address subnets
* api integrations are important, adding bitmark support should be as easy adding a wordpress plugin
* uri scheme for sending payments which can invoke specified client is important
* look at transaction notifications api, perhaps push instead of listtransactions/getbyaccount, perhaps transactions since x
* check if javascript apps can post to localhost, could be nice for detached clients
* institutional momentum is to stick to the last decision made, so bitmark should be secure before targetting existing service providers, if they deny it first time they will probably keep denying
* api documentation should include example code for well known language(s), important to have before pushing adoption
* people should not need complicated tooling to fix stuck transactions and errors, there should be an easy way to do it automatically
* ensure json-rpc over http is http compliant
* does caching need covered, in daemon, or as a layer above, perhaps a wrapping application that caches json responses and acts as a middle man
* simplicity first, the network only needs to prevent against double spends, if it does that, and people can interface easily, it works.
* discuss starting with a fixed reasonable transaction fee
* make block chain downloads available at each checkpoint?

any discussion is welcomed.

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coinsolidation
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June 29, 2014, 04:41:17 PM
 #46

Update

I've effectively forked the latest stable bitcoin, thoroughly renamed, configured with all proposed chain, config and port configurations, updated all supporting documentation, updated all tools, demos, dns seeder, build files for all targets, and importantly all tests.

bitmarkd and bitmark-cli compile with 113 QA tests passing, and no obscure references to bitcoin other than in license headers.

Next:
Change to scrypt PoW, create signing certificates for releases, configure alertnet.

Once ready I'll commit all code so we can test compilation and testnet.

technical needs:
1. soon, people interested in testing and building.
2. soon, dedicated server for main node and project websites
3. soon after, dns seeders

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June 30, 2014, 04:26:33 PM
 #47

Update - First Test Released

The first release of the new code base is up on github, it's TESTNET only. Appears to work well.

Need to organize a dedicated server for a main test node, and some people to help test... run it, mine testnet coins, send transactions, break it.

This release is essentially what you'd get if litecoin was created today, the latest bitcoin code with scrypt added.

Tester Requirements: somebody who can pull the source from github, build on the command line (autogen, configure, make), and use the cli/daemon.

All details of the project and plans are on the wiki.

If anybody can help test, or feels confident enough to help raise funds (a small amount) for a development server+domain, it would be appreciated.

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July 01, 2014, 12:05:53 AM
 #48

update

  • added a temporary main network genesis block in order to run unit tests
  • have all quality assurance tests passing, except the miner_tests as new test blocks need generated for it
  • added unconditional support for BIP16, BIP30, BIP31
  • in progress, updating to version 2 transactions and block from genesis on main/test/regression networks
  • ann updated for the tl;dr's

do build and test, do not mine, all chains will be reset before public launch

edit: also changed the client name to "Pfennig".

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July 01, 2014, 08:20:45 PM
 #49

Update
  • testnet and mainnet both on version 2 blocks, checkpoints added, regression network has no genesis yet
  • mining tested with internal miner, minerd, cgminer, others

The "stratum-mining" project appears to be partially incompatible, it's passing block height through incorrectly, I will patch it when I have a chance, unless somebody beats me to it.

Thanks to gjhiggins there is a temporary testnet node up at 5.9.56.229.


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July 02, 2014, 11:56:51 AM
 #50

Update

A dedicated server is urgently needed.

Request alternative proposals for an icon or logo for the Bitmark Project.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
coinsolidation
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July 02, 2014, 01:50:32 PM
 #51

A discussion on Non-IPO funding is going on in a different thread. Please contribute if you can.

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July 02, 2014, 11:30:19 PM
 #52

update

I can safely say that we have a new scrypt codebase for people to clone. Bitcoin 0.9.2.1 with Scrypt support added and all unit tests passing*. I will fork the project tomorrow and release a new RI which people can fork for their clone coins... it's entirely possible that clones of Bitmark will be released before Bitmark is.

* I need to generate new test blocks for miner_tests

  • stratum-mining bug is classed as fixed, I'm on to block 300+ on a temporary chain via mixed mining software and all works
  • plenty of discussion about technical choices made can be found on this thread
  • temporary testnet and mainnet chains are progressing well, test transactions will follow

Many posts above need replies. I will continue.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
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July 03, 2014, 01:14:20 AM
 #53

First transaction on the (temporary) main network:

Code:
./bitmark-cli sendtoaddress bLkHn1UNGQmJkbZS2FF4AVcB4MzD2zkBr3 30
39582cddb4a00977f6c29fb5f18a6b34a521d74bd47311ef2585fbff98037517

Code:
    {
        "account" : "",
        "address" : "bLkHn1UNGQmJkbZS2FF4AVcB4MzD2zkBr3",
        "category" : "receive",
        "amount" : 30.00000000,
        "confirmations" : 16,
        "blockhash" : "57acfdcdff0d2b229eebab8313857694fbf371be510b9d95d6f9ee4256b8c81d",
        "blockindex" : 1,
        "blocktime" : 1404349722,
        "txid" : "39582cddb4a00977f6c29fb5f18a6b34a521d74bd47311ef2585fbff98037517",
        "walletconflicts" : [
        ],
        "time" : 1404349591,
        "timereceived" : 1404349591
    }

Happy Smiley

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July 03, 2014, 06:22:39 AM
 #54

This looks awesome.

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July 03, 2014, 02:47:02 PM
 #55

qt complete, reference implementation nearing completion
I've compiled and tested the user interface of bitmark core using qt4 and qt5. All works well. I've been using it on multiple computers for the last few hours.

The clone-able reference implementation of bitmark is now technically complete.

Work is now focussed on minor informative changes, branding, and ensuring the RI release of bitmark meets the quality expected.

The project desperately needs help with branding, help to fund a dedicated development server and some graphical resources, see previous posts for details.

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July 03, 2014, 03:45:30 PM
 #56

qt complete, reference implementation nearing completion
I've compiled and tested the user interface of bitmark core using qt4 and qt5. All works well. I've been using it on multiple computers for the last few hours.

The clone-able reference implementation of bitmark is now technically complete.

Work is now focussed on minor informative changes, branding, and ensuring the RI release of bitmark meets the quality expected.

The project desperately needs help with branding, help to fund a dedicated development server and some graphical resources, see previous posts for details.

I could maybe help with branding.

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July 03, 2014, 03:59:12 PM
 #57

A brief overview needed, anyone?
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July 03, 2014, 04:52:58 PM
 #58

I could maybe help with branding.

Thank you, a logo is number one. Professional, simple, recognisable.

A brief overview needed, anyone?

Technically: Light and stable with a modern codebase, maturing features from the alternative currency sector which benefit users added on a faster timeline than bitcoin. Think of it more as standardization rather than innovation.

User focussed: Most development effort and innovation goes in to making bitmark as user friendly, and simple to integrate with, as possible.

Adoption: In line with being user focussed, all marketing and outreach will be to potential adopters, such as microtransaction marketplaces. The project is crafted in such a way that encourages all involved to focus on adoption.

Earned Value: no hype, no rush to get on exchanges, no ipo, premine, it's not a cash cow, it's a project to make a viable every day currency, any value will be earned.

Longevity: 0.250% (max) of the block reward goes to the bitmark development fund, supporting long term dedication to to the project, and future growth as value grows.

Distribution: A configuration which aims to ensure fair distribution whilst using proven PoW which has had substantial investment in hardware.

So, no hype or gimmicks, just a project which focusses on becoming a stable every day currency. Remember the days when the first bitcoins were gifted to each other, when buying a pizza was a milestone, when it was about developing a useful currency, when we asked how can we get x to use this, rather than what it it be worth tomorrow? this is about getting back to that ethos, whilst recognising the space has moved forward.

Project Status: We are close to releasing the first clone-able reference implementation (technically already complete), it's 90% of the bitmark foundation and serves as a modern, tested, codebase which other can fork and use to make their pump and dump clones. They're going to do it so we may as well ensure they're using safe tested code rather than copy and pastes of redundant code.

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July 03, 2014, 05:28:27 PM
 #59

I could maybe help with branding.

Thank you, a logo is number one. Professional, simple, recognisable.


I could maybe make a logo, but I do not have any experience with like design, just photoshop. So if you know like what you want and I can make it from stuff on Google images I could do that.

I have also read a few books about online marketing and Guerrilla marketing and studied the history of Guerrilla theater and stuff. And I am pretty well known on a few different forums and I have a Google+ and stuff, so I can share the coin with people there and Facebook and everything.

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July 03, 2014, 05:42:01 PM
 #60

I could maybe make a logo, but I do not have any experience with like design, just photoshop. So if you know like what you want and I can make it from stuff on Google images I could do that.

I have also read a few books about online marketing and Guerrilla marketing and studied the history of Guerrilla theater and stuff. And I am pretty well known on a few different forums and I have a Google+ and stuff, so I can share the coin with people there and Facebook and everything.

I'm a firm believe that each person should play to their real world strengths. I am a programmer specializing in architecture, system integration, and standardisation. Hence the project.

You specialize in guerrilla marketing, so perhaps concentrate more on plans to target specific sectors or demographics when the time comes, grass roots adoption with small business and single entities will be important. There are perhaps some people around here who would be good to target, but they are the ones who are interested in development projects and adoption, not the speculators. If you're willing to help out with the project that is, any input is appreciated.

I'm sure somebody will come along who is a good designer, in the worst case and if I manage to secure an initial development budget I can hire a good logo designer or offer up a competition for the logo. Mymenace already offered one suggestion, of a very good quality, but not quite unique enough IMHO. I may send him a pm and see if he has any further input.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
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