[ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine

[smooth]

I do take issue with muddying the waters on an otherwise interesting and innovative coin by throwing in an unproven and immature PoW. PoW is cryptography. Cryptography is hard. This was a blunder.

LOL everything about this coin is unproven and highly experimental. We designed an entire CRYPTO-currency here, the PoW algorithm should be the least of your worries, it's probably the most trustworthy aspect of the coin compared to all the other new ideas implemented in this coin.

I guess we are going in circles, but that is why it should have been the least of your worries in developing it. But to each his own.

There is no doubt in my mind this coin would be seeing more early success (and that, often, later success builds on early success) had a mature PoW been used. Perhaps there is no doubt in your mind that I am wrong. I guess that's why altcoins are so much fun.

[Primitive]

does anyone have the expertise to pull a "rich list" from the XCN blockchain?  i think this is important to establish for those of us worried about the early mining issues, and the possibility of the majority of the circulation owned by very few top wallets.  this unknown is the only thing preventing me from buying XCN.

[smooth]

does anyone have the expertise to pull a "rich list" from the XCN blockchain?  i think this is important to establish for those of us worried about the early mining issues, and the possibility of the majority of the circulation owned by very few top wallets.  this unknown is the only thing preventing me from buying XCN.

I would caution that there is no way to know how many wallets/addresses someone controls. Whoever is running that miner that is getting 20+% of the coins is either pretty dumb, or wants to be discovered, because if he just mined into 10-20 different addresses no one would have ever found it.

[tk808]

News article now published on Coins Source, as requested on Twitter earlier

http://www.coinssource.com/cryptonite-the-first-mini-blockchain/

[Pale Phoenix]

I guess we are going in circles, but that is why it should have been the least of your worries in developing it. But to each his own.

There is no doubt in my mind this coin would be seeing more early success (and that, often, later success builds on early success) had a mature PoW been used. Perhaps there is no doubt in your mind that I am wrong. I guess that's why altcoins are so much fun.

Sheesh, your concern trolling is tiresome.

"More early success?" Pfft, that's just an empty assertion to justify your belabored critique. You've repeatedly shared your concerns, but the coin will not be relaunched, nor will the developer's design decisions be revisited.  Perhaps we can let the market take it from here?

[smooth]

but the coin will not be relaunched, nor will the developer's design decisions be revisited.  Perhaps we can let the market take it from here?

You don't know that. I'd definitely fork it, toss the PoW and relaunch it myself if I weren't already busy with other things. If someone else wants to do it, it may happen.

It would actually be a bad bet to say this coin won't be forked. Whether those inevitable forks get any success is hard to say. Launch problems definitely help forks, but it is a question of degree.

[ChaseT]

what you don't understand is this:  the technology of XCN is so great it should overcome the inflation issue

[watuba]

what you don't understand is this:  the technology of XCN is so great, the inflation is part of a great long-term fair distribution plan

[smooth]

what you don't understand is this:  the technology of XCN is so great, the inflation is part of a great long-term fair distribution plan

Since I've been critical of some things, for balance I will point out that this is probably my favorite part of this coin.

No it likely won't have a massive pump (and perhaps the pumps it has already seen have been too high -- I believe this), but that means the price will stay low enough for people to buy in or mine at reasonable difficulties for a long time. Coins that want to shut the door after a few early adopters get in are great for pump-and-dump purposes but have no real chance long term. It also means serious, potentially existential and possibly unfixable, problems with mining incentives that plague most other coins (including at some point Bitcoin) don't come up for many, many decades.

[drakoin]

Name:   bitfreak!
Posts:   1000
Activity:   896
Position:   Hero Member
Date Registered:   May 22, 2011, 06:36:59 AM
Last Active:   Today at 06:50:45 AM

user 14351, congratulations to your post #1000

:-)

[wenjiannin]

Name:   bitfreak!
Posts:   1000
Activity:   896
Position:   Hero Member
Date Registered:   May 22, 2011, 06:36:59 AM
Last Active:   Today at 06:50:45 AM

user 14351, congratulations to your post #1000

:-)

you the best i love you

[piccionipier]

I do take issue with muddying the waters on an otherwise interesting and innovative coin by throwing in an unproven and immature PoW. PoW is cryptography. Cryptography is hard. This was a blunder.

LOL everything about this coin is unproven and highly experimental. We designed an entire CRYPTO-currency here, the PoW algorithm should be the least of your worries, it's probably the most trustworthy aspect of the coin compared to all the other new ideas implemented in this coin.

go Ahead 

[ChaseT]

@bitfreak are you worried about possible clones?

[Sev0]

Any pools not listed?
1GH seems to be the only one running right now.

And there is a problem with 1GH. When I put on it 400KH - it shows 400KH, but when I put on it 12 Mh it shows 6Mh. Where is 50% of power?

They did just create the stratum implementation - maybe it's buggy.

Where, or with what, do you get this big hashrates?

[discodancer]

but the coin will not be relaunched, nor will the developer's design decisions be revisited.  Perhaps we can let the market take it from here?

You don't know that. I'd definitely fork it, toss the PoW and relaunch it myself if I weren't already busy with other things. If someone else wants to do it, it may happen.

It would actually be a bad bet to say this coin won't be forked. Whether those inevitable forks get any success is hard to say. Launch problems definitely help forks, but it is a question of degree.

My guess is anyone wanting to fork is waiting for things to clear out. with all due respect to catia's hard work, there are things still left to do with this coin.

[smooth]

but the coin will not be relaunched, nor will the developer's design decisions be revisited.  Perhaps we can let the market take it from here?

You don't know that. I'd definitely fork it, toss the PoW and relaunch it myself if I weren't already busy with other things. If someone else wants to do it, it may happen.

It would actually be a bad bet to say this coin won't be forked. Whether those inevitable forks get any success is hard to say. Launch problems definitely help forks, but it is a question of degree.

My guess is anyone wanting to fork is waiting for things to clear out. with all due respect to catia's hard work, there are things still left to do with this coin.

That's what merging is for. If you change nothing but the proof of work, merging will be trivial, and could even be automated.

[PeaMine]

I'm trying to send using cryptonited, but I get this error:
error: {"code":-3,"message":"Invalid amount, too short"}
cryptonited sendtoaddress CS7BStDpSWvixRS99T3Twp9zQUBaA9mqKG 10

[smooth]

I'm trying to send using cryptonited, but I get this error:
error: {"code":-3,"message":"Invalid amount, too short"}
cryptonited sendtoaddress CS7BStDpSWvixRS99T3Twp9zQUBaA9mqKG 10

You have to put a decimal point and a whole bunch of zeros (keep adding them until it works -- you will get different error messages) and the letters ep at the end. I have no idea why.

[q327K091]

I'm trying to send using cryptonited, but I get this error:
error: {"code":-3,"message":"Invalid amount, too short"}
cryptonited sendtoaddress CS7BStDpSWvixRS99T3Twp9zQUBaA9mqKG 10

You have to put a decimal point and a whole bunch of zeros (keep adding them until it works -- you will get different error messages) and the letters ep at the end. I have no idea why.

I love it, no I am serious, this will work, this might actually take off, has element of humor built into it, let me check my balance

it isssss 238 is that a lot ? , even this question is funny

may I add couple of 0's there also ? and increase balance that way magically ?

[restless]

wow, some addresses mine @1gh with 600MH ... thats more than 5000 haswell cores...

I really wonder why giving money to botnets is ok :S