[ANN][SMC] SmartCoin | Next generation currency | continued development

[Vlad2Vlad]

SMC BTC price is gong down so hard
Price should be 0.00006500 comparing with other coins with similar features.
Why market is not moving?
 

99% of the alts right now are tanking hard.  This happened last November too as people pull money out to pay mining bills or to invest in BTC as they feel it's about to take off.

Summer doesn't help as many people need the extra cash for vacations.

[1715672231]

1715672231

[1715672231]

1715672231

[1715672231]

1715672231

[nyktalgia]

yeap im about to dump my 14.2k SMC, worst investment ever... C'est la vie!

[zuldarrs]

SMC BTC price is gong down so hard
Price should be 0.00006500 comparing with other coins with similar features.
Why market is not moving?
 

because the dev is the dictator of this coin.

[bitcoinwonders010]

dev has said he has no time yet to develop it but he will later

[CoinStarX]

dev has said he has no time yet to develop it but he will later

Anyway the community can help him develop things for it. Also I thinking marketing it would go a real long way. It has a nice name. 

[Vlad2Vlad]

what is the mining block reward on this coin?
total coins all time?

I don't know what the subsidy is but the total got dropped to 21 million I believe.  Smart move by the dev.

[Vlad2Vlad]

what is the mining block reward on this coin?
total coins all time?

I don't know what the subsidy is but the total got dropped to 21 million I believe.  Smart move by the dev.

First page of this thread, OP( psionin ) says 24.5 million smartcoins all-time now.
https://bitcointalk.org/index.php?topic=675821.0


I was looking at the block explorers, seems there is still 32 coins/block,
but I thought that psionin had reduced the block rewards to 16 coins/block?

Can anyone clarify this?

That's contrary to what he said unless I'm wrong.

I too would like some confirmation on the current subsidy and the max supply.

[Vlad2Vlad]

july 29, 2014, Quote from psionin below:
As for the future, there currently isn't anything planned on my end at this time, and it is likely that I would be mostly unavailable in the near term, as there are other non-crypto responsibilities to attend to. However, it is entirely possible to be able to continue to work on the SMC software eventually.


Somewhat of a non-commitment commitment from psion, to work on this coin as dev

still good to know a talented dev like psionin is working in the background on smartcoin

That's cool, I get that but didn't the subsidy just get cut and the max supply?  What are the official numbers for that - there seems to be some general confusion here now.

Thanks!

[FurianSun]

I think when we hit a certain block it will change.

[BitSmacker]

16 coins/block starts at block 300,000

[Vlad2Vlad]

16 coins/block starts at block 300,000

How is the max supply gonna be cut to 21 million or even 24 million with 16 per block?  Isn't that too high?

I wish the new specs were clearly posted in the OP. 

Cheers!

[psionin]

Greetings,

The OP has the following updated block reward info section:

PoW Algorithm: Scrypt / X11 after July 24
Block Interval: 40 seconds / 2 minutes after July 24
Difficulty Retarget: every block (Digishield)
Total Coins: ~24.5 million

Block 1: 400,000 SMC
Block 2 - 999: 1 SMC
Block 1000 - 199,999: 64 SMC
Block 200,000 - 299,999: 32 SMC
Block 300,000 - 562,799: 16 SMC
Block 562,800 - 825,599: 8 SMC
Block 825,600 - 1,088,399: 4 SMC
Block 1,088,400 - 1,351,199: 2 SMC
Block 1,351,199 - 1,613,999: 1 SMC

Coin subsidy halves every year after block 300,000.

The change to 16 coins per block is also included in the announcement section:

Included with this change is a block subsidy reduction to 16 coins per block and a block spacing time increase to 2 minutes.

And in the Github release note:

This is a mandatory client update that schedules an X11 mining fork for July 24, 2014 and reduces block subsidy to 16 coins per block.

Additionally, stonedpuppy has brought up the issue earlier in the thread:

Wait, something is wrong.  We are supposed to be at 16 coins per block and stoned puppy shows 32 coins per block...

This is from psionin

It's set at a specific time because it didn't look to be straightforward to set it to a certain block. It's 1406160000 in Unix time, which is July 24 2014 12:00:00 AM UTC. Included in that fork is a block time increase to 2 minutes. There is also a subsidy reduction and halving change at block 300,000, though, which is afterwards.

There may be some confusion because there was already a time based fork for the mining algorithm, included with which was the block time change that reduced the coin generation rate, and that the subsidy algorithm change is separate and is scheduled later at block 300,000.


I have added comments to the block reward code for clarity. main.cpp, lines 1095-1110:

Code:

if (nHeight < 2) { // Premine is 400,000
    nSubsidy = 400000 * COIN;
} // Low reward for the first 1,000 blocks
else if (2 <= nHeight && nHeight < 1000) {
    nSubsidy = 1 * COIN;
} // 64 coins until block 200,000
else if (1000 <= nHeight && nHeight < forkBlock2) {
    nSubsidy = 64 * COIN;
} // 32 coins until block 300,000
else if (forkBlock2 <= nHeight && nHeight < forkBlock3) {
    nSubsidy = (32 / ((nHeight + 400000) / 400000)) * COIN;
} // 16 coins with yearly halving thereafter; total expected: ~24.5 million (24,547,798)
else if (forkBlock3 <= nHeight) {
    nSubsidy = 16 * COIN;
    nSubsidy >>= (nHeight / (forkBlock3 + 262800));
}

The code corresponds to the following math to calculate the total expected coins:
    T(C) =  1 * 400,000 + 998 * 1 + 200,000 * 64 + 100,000 * 32 + 16 * 262,800 + 8 * 262,800 + 4 * 262,800 + 2 * 262,800 + 1 * 262,800 = 24,547,798


If there should be more clarification regarding block subsidy in the OP, please let me know what kind of wording should be added.


Regards,
Psionin

[Halofire]

Psionin,
can you provide a list of new peer nodes please? Have 1 connection and can't get my wallet to sync past 40 hours ago, block 290718. tried deleting and redownloading the blockchain 4x. No luck. Was getting stuck at 500, 1000, 1500, and 2000 for some strange reason a couple times.

[psionin]

Psionin,
can you provide a list of new peer nodes please? Have 1 connection and can't get my wallet to sync past 40 hours ago, block 290718. tried deleting and redownloading the blockchain 4x. No luck. Was getting stuck at 500, 1000, 1500, and 2000 for some strange reason a couple times.

The getting stuck part seems like something that happened on different code, prior to the latest updates. It shouldn't be happening in the latest version (I just tried and it didn't), but if it is, let me know and include the peer info. For the last update, I replaced the 0.9 zip file without making a new release page, so perhaps downloading the file from https://github.com/psionin/smartcoin/releases/tag/0.9 again may be a good idea.

Anyway, here are some nodes that are fully synced:

Code:

66.116.19.99:51303
90.203.98.188:54252
74.207.203.61:39333
203.198.32.204:49238
23.239.17.74:50185
85.180.72.91:35203
95.82.174.47:56154

[Halofire]

Psionin,
can you provide a list of new peer nodes please? Have 1 connection and can't get my wallet to sync past 40 hours ago, block 290718. tried deleting and redownloading the blockchain 4x. No luck. Was getting stuck at 500, 1000, 1500, and 2000 for some strange reason a couple times.

The getting stuck part seems like something that happened on different code, prior to the latest updates. It shouldn't be happening in the latest version (I just tried and it didn't), but if it is, let me know and include the peer info. For the last update, I replaced the 0.9 zip file without making a new release page, so perhaps downloading the file from https://github.com/psionin/smartcoin/releases/tag/0.9 again may be a good idea.

Anyway, here are some nodes that are fully synced:

Code:

66.116.19.99:51303
90.203.98.188:54252
74.207.203.61:39333
203.198.32.204:49238
23.239.17.74:50185
85.180.72.91:35203
95.82.174.47:56154

yeah, that's what it was, I missed the new wallet update. Silly me. Thanks.
Nodes helping for a speedy download so thanks for that too. All the existing nodes did not work, and even when I deleted the nodes from my conf.
Still downloading as of right now, but if you don't hear anything from me, I'm ok.

I really don't want to sell what I mined. It's almost pointless at these prices, but the room for growth is definitely there if we can get something going.

Seems the community is ok sitting back and letting this coin pittle out after your stepped up, Psionin. Do you have any direction for the coin, or are you still "away"? What could we possibly integrate to make this ancient coin be in demand again? Something simple to show we are still up to date, even though we aren't first in innovation. MP3 player? App store? How about piggybacking on another coin's features where you could use SMC and whatever coins to pay for a service? Like being able to use CLD, BTC and SMC in the SMC wallet to buy apps? idk, im trying to think and I can't come up with anything for making a SmartWallet for SmartCoin. Perhaps get SMC involved in education, like buying and donating school supplies for kids? That's probably the ticket: kids and education.

But if we don't do anything, expect this coin to get dusty again.

[Halofire]

Here are the old nodes that DO NOT work as you requested:

addnode=46.4.32.195:58585
addnode=62.156.25.168:58585
addnode=198.199.106.114:58585
addnode=23.22.1.69:58585
addnode=69.136.244.214:58585
addnode=192.99.7.23:58585
addnode=74.195.41.253:58585
addnode=144.76.64.123:58585
addnode=46.71.175.246:20948
addnode=178.43.245.75:48000
addnode=193.19.185.204:3081
addnode=66.66.20.178:49473
addnode=86.23.118.122:51876
addnode=82.147.128.94:60763
addnode=72.209.39.24:56290
addnode=82.217.44.56:60146
addnode=46.71.175.246:20948

[Halofire]

Psionin,
can you provide a list of new peer nodes please? Have 1 connection and can't get my wallet to sync past 40 hours ago, block 290718. tried deleting and redownloading the blockchain 4x. No luck. Was getting stuck at 500, 1000, 1500, and 2000 for some strange reason a couple times.

The getting stuck part seems like something that happened on different code, prior to the latest updates. It shouldn't be happening in the latest version (I just tried and it didn't), but if it is, let me know and include the peer info. For the last update, I replaced the 0.9 zip file without making a new release page, so perhaps downloading the file from https://github.com/psionin/smartcoin/releases/tag/0.9 again may be a good idea.

Anyway, here are some nodes that are fully synced:

Code:

66.116.19.99:51303
90.203.98.188:54252
74.207.203.61:39333
203.198.32.204:49238
23.239.17.74:50185
85.180.72.91:35203
95.82.174.47:56154

yeah, that's what it was, I missed the new wallet update. Silly me. Thanks.
Nodes helping for a speedy download so thanks for that too. All the existing nodes did not work, and even when I deleted the nodes from my conf.
Still downloading as of right now, but if you don't hear anything from me, I'm ok.

I really don't want to sell what I mined. It's almost pointless at these prices, but the room for growth is definitely there if we can get something going.

Seems the community is ok sitting back and letting this coin pittle out after your stepped up, Psionin. Do you have any direction for the coin, or are you still "away"? What could we possibly integrate to make this ancient coin be in demand again? Something simple to show we are still up to date, even though we aren't first in innovation. MP3 player? App store? How about piggybacking on another coin's features where you could use SMC and whatever coins to pay for a service? Like being able to use CLD, BTC and SMC in the SMC wallet to buy apps? idk, im trying to think and I can't come up with anything for making a SmartWallet for SmartCoin. Perhaps get SMC involved in education, like buying and donating school supplies for kids? That's probably the ticket: kids and education.

But if we don't do anything, expect this coin to get dusty again.

what about a voice activated search engine across all platforms, but to be used on mainly on smartphones or tablets - "on-the-go" devices? Now that's smart!
"Smartie, google coffee shops near me"... HA!!

[Vlad2Vlad]

I totally agree, I also assumed this coin had some sort of smart tech.  That's why it's such a great name - a lot can be done with it.

[Vlad2Vlad]

Looks like we've hit rock bottom.  With BTC crashing so hard it's tough to say but it's looking good for now.

[zuldarrs]

good job killing this coin like waiting for the messiah