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

[subSTRATA]

All development around this and similar coins is there to justify inflated prices and make bagholders feel better while they are holding overpriced coins.

[myagui]

All development around this and similar coins is there to justify inflated prices and make bagholders feel better while they are holding overpriced coins.

I'll bite, as a form of appreciation for the trollbump^(tm).
Where are all these "similar coins"? I kindly request a sensible post, say, point us towards innovations on a similar platform to 'miniblockchain', or perhaps an emission rate of ~50% in 10 years. Similar stuff. 
~ Myagui

[polanskiman]

All development around this and similar coins is there to justify inflated prices and make bagholders feel better while they are holding overpriced coins.

Are you the one who sold BTCs at 309 USD 2 days ago? - lol

[heskey]

The altcoin community should be about innovation, not a select few people making a quick buck. Our goal was to break out of that greed driven trend. Cryptonite had no pre-mine, no IPO, the difficulty adjustment algorithm is designed to adapt quickly and prevent instamines

I live for a day when developers will actualy launch a coin which is as promised in announcement. So far, the only non-instamined coin out there is also the first one - Bitcoin.
Any other coin was instamined and XCN is not exception. Developers who can implement killer features in their coin surely know what starting difficulty should they go with to
really prevent instamine but, as it can be seen again, that is actualy not in their interest. Nor it is in their interest to provide optimized CPU / GPU miners and 100% working wallet
at the very start of mining.

"The first couple of hours were bit of a bumpy ride, the first Windows binaries released were buggy and caused a bunch of mini-forks to break out, preventing Windows users
from participating in the network until we released a fix."

Pathetic scumbags.

Just to bump one of my previous post so any newcomers eventualy realise what this coin is actualy about - for those unable to think, it is about instamining and dumping easily
acquired coins on you at inflated prices later.

What nonsense you're talking. The definition of 'instamine' is to mine the majority of coins before it has got publicly noticed.

"After 1 month: ~11 Million
After 3 months: ~ 32 Million
After 1 year: ~ 123 Million
After 2 years: ~ 240 Million
After 10 years: ~ 920 Million"

This clearly proves that as of now, only a small portion has been mined and also leaving room for the late miners to get a piece of the cake. A much bigger problem would be the altcoin-whales buying up tremendous amounts of coins at these low prices.

[subSTRATA]

All development around this and similar coins is there to justify inflated prices and make bagholders feel better while they are holding overpriced coins.

I'll bite, as a form of appreciation for the trollbump^(tm).
Where are all these "similar coins"?
~ Myagui

There are many altcoins which were deliberately launched with minimal difficulty and faulty public wallets - to allow scumbag developers and their friends to instamine - that still
have active developement and people like you around who are trying to obfuscate the truth. You have invested (heavily) in a scam and now use all available means to make it all
look like a legit deal worthy of investment so that you can eventualy dump on people more stupid than you are. Mini-blockchain? Big deal not really. The only ones who care are
instaminers (the ones who haven't dumped instamined coins yet) and you who bought overpriced coins from them and now hope to sell them with some profit, no one else.

@ heskey

Definition of instamine is when blocks are generated at 10 or 100 or higher rate than advertised which is what happened here and will be visible forever via blockchain explorer.
Some here went so low to attack Satoshi for instamining Bitcoin which is provably not true - if you check Bitcoin blockchain starting with genesis block you will realise that not
only there was no instamining but blocks where generated slower than 600 seconds on average for months. Satoshi and others who were mining Bitcoin in early days had less
hashrate than it is required to reach difficulty of 1.0

[heskey]

This article might be an eye-opener as to why this coin and technology is important.
http://www.coindesk.com/bitcoin-nodes-need/

“As bitcoin grows, so does the network and the computing power behind the scenes required to run it. The majority of bitcoiners won’t be able to support their own nodes and will be taken over by companies like KnC.”

@subSTRATA,
Ah, well, it won't matter in the end. This coin has a much more fair distribution curve than all other coins I've seen. And as I pointed out, the bigger problem is the whales that buy up huge portions at these ridiculous prices.

[yellowduck2]

I have my 750Tis up to almost 5MH/s per card!

https://ottrbutt.com/tmp/xcnwolf750ti5.png

NICE WALLPAPER

[myagui]

... yada yada yada ...

Please make an effort. Senseless posting will not earn you any trollpoints^(tm).

I'm actually a windows miner, and had 4 blocks using a single desktop CPU at launch time. Once GPU mining was available, I've been mining with 4x 750 TIs, which you can imagine, make me a "huge stakeholder" here. I'm bound to loose the house if this thing drops a cent. Oh, wait, that doesn't sound right, does it now?

While I do agree that windows users got screwed at the start for the short duration that win-wallets were broken, it doesn't amount to anything of significance, given the extremely slow emission rate. I got screwed then, still made some blocks, and the dev was notably fast in addressing the problem right when it was spotted (a few hours is all it took...).

In any case, please carry on, let's bump this baby all day long!  
~ Myagui

[subSTRATA]

@subSTRATA,
Ah, well, it won't matter in the end. This coin has a much more fair distribution curve than all other coins I've seen. And as I pointed out, the bigger problem is the whales that buy up huge portions at these ridiculous prices.

It will matter. For as long as I and similar people are alive we will be putting the facts up to your and everyone elses' noses. We will not let you hide the truth. If you think that is
not OK and actualy neccessary you can go back to fiat and "normal" environment, there are plenty of lies and coverups.

[yellowduck2]

which coin beat darkcoin in instamining ?

[polanskiman]

@subSTRATA,
Ah, well, it won't matter in the end. This coin has a much more fair distribution curve than all other coins I've seen. And as I pointed out, the bigger problem is the whales that buy up huge portions at these ridiculous prices.

It will matter. For as long as I and similar people are alive we will be putting the facts up to your and everyone elses' noses. We will not let you hide the truth. If you think that is
not OK and actualy neccessary you can go back to fiat and "normal" environment, there are plenty of lies and coverups.

We've got Micheal Moore among us.

[heskey]

@subSTRATA,
Ah, well, it won't matter in the end. This coin has a much more fair distribution curve than all other coins I've seen. And as I pointed out, the bigger problem is the whales that buy up huge portions at these ridiculous prices.

It will matter. For as long as I and similar people are alive we will be putting the facts up to your and everyone elses' noses. We will not let you hide the truth. If you think that is
not OK and actualy neccessary you can go back to fiat and "normal" environment, there are plenty of lies and coverups.

I can see what you mean. But in the bigger picture I still don't think it matters.You will have to make a more in-depth disclosure to prove your point.

[subSTRATA]

@subSTRATA,
Ah, well, it won't matter in the end. This coin has a much more fair distribution curve than all other coins I've seen. And as I pointed out, the bigger problem is the whales that buy up huge portions at these ridiculous prices.

It will matter. For as long as I and similar people are alive we will be putting the facts up to your and everyone elses' noses. We will not let you hide the truth. If you think that is
not OK and actualy neccessary you can go back to fiat and "normal" environment, there are plenty of lies and coverups.

I can see what you mean. But in the bigger picture I still don't think it matters.You will have to make a more in-depth disclosure to prove your point.

Bigger picture here says as it was already posted - genuine development is used to coverup deliberate instamining. I don't have to disclose anything more. Enough is said for smart
investors to start their own research and decide for themselves. Dumb people will not listen regardless of what I posted or could post more.

[bitfreak!]

There are many altcoins which were deliberately launched with minimal difficulty and faulty public wallets - to allow scumbag developers and their friends to instamine - that still have active developement and people like you around who are trying to obfuscate the truth. You have invested (heavily) in a scam and now use all available means to make it all look like a legit deal worthy of investment so that you can eventualy dump on people more stupid than you are.

Lets get a few things straight: 1) difficulty readjustment happens very quickly, it changes every block in fact, so starting at a low difficulty didn't matter at all. 2) the faulty wallet was clearly a bug we could not forsee, it didn't appear during the public beta testing because the difficulty never got higher enough. And actually the Windows wallet only stopped working after a few hundred blocks, so they did have a fair chance to mine right at launch like everyone else. 3) this coin probably has less promotion and advertising than any other coin on this forum, and that's mainly because so much money was spent on development, I don't want to spend much more on marketing right now. So unlike most shitty clone cones with good marketing, Cryptonite has cool new features but shitty marketing (probably one reason the price hasn't been doing so well lately). I truly don't have any idea what you're trying to achieve here, other than proving you aren't cut out to be an internet detective.

[bitfreak!]

The developer working on this showed in in #bitcoin-wizards at one point to ask bitcoin people to write some code for their altcoin to take: http://download.wpsoftware.net/bitcoin/wizards/2014-06-12.html (search miniblockchain)

We weren't asking them to write code for us, we were asking about the headers first patch created by sipa because it was exactly what we needed. It was originally intended to be included in Bitcoin, but was never included in Bitcoin because I think the code got too outdated before it could merged, so we were asking about the progress on it... which clearly didn't go so well. So catia took sipa's broken headers first patch and totally fixed it up and merged it with Cryptonite, so Cryptonite is probably also the first coin to use the headers-based synchronization approach.

If you find reduced security acceptable— bitcoin has SPV already, which has near optimal performance.

The key difference is that SPV nodes are not full nodes, they are what we call lite nodes, and their functionality is extremely limited. In the mini-blockchain scheme, any node can become a full node with only the last 10k blocks and the account tree. In fact every single node can forget about blocks once they are old enough, so no one needs to store the full blockchain really. For details on the security tradeoffs see this page: http://cryptonite.info/wiki/index.php?title=Weaknesses_and_attack_vectors

[AizenSou]

There are many altcoins which were deliberately launched with minimal difficulty and faulty public wallets - to allow scumbag developers and their friends to instamine - that still
have active developement and people like you around who are trying to obfuscate the truth. You have invested (heavily) in a scam and now use all available means to make it all
look like a legit deal worthy of investment so that you can eventualy dump on people more stupid than you are. Mini-blockchain? Big deal not really. The only ones who care are
instaminers (the ones who haven't dumped instamined coins yet) and you who bought overpriced coins from them and now hope to sell them with some profit, no one else.

@ heskey

Definition of instamine is when blocks are generated at 10 or 100 or higher rate than advertised which is what happened here and will be visible forever via blockchain explorer.
Some here went so low to attack Satoshi for instamining Bitcoin which is provably not true - if you check Bitcoin blockchain starting with genesis block you will realise that not
only there was no instamining but blocks where generated slower than 600 seconds on average for months. Satoshi and others who were mining Bitcoin in early days had less
hashrate than it is required to reach difficulty of 1.0

Wow. This guy sounds exactly like Darkcoin's trolls. Ignore people like him. He couldn't do simple math.

[subSTRATA]

There are many altcoins which were deliberately launched with minimal difficulty and faulty public wallets - to allow scumbag developers and their friends to instamine - that still have active developement and people like you around who are trying to obfuscate the truth. You have invested (heavily) in a scam and now use all available means to make it all look like a legit deal worthy of investment so that you can eventualy dump on people more stupid than you are.

Lets get a few things straight: 1) difficulty readjustment happens very quickly, it changes every block in fact, so starting at a low difficulty didn't matter at all. 2) the faulty wallet was clearly a bug we could not forsee, it didn't appear during the public beta testing because the difficulty never got higher enough. And actually the Windows wallet only stopped working after a few hundred blocks, so they did have a fair chance to mine right at launch like everyone else. 3) this coin probably has less promotion and advertising than any other coin on this forum, and that's mainly because so much money was spent on development, I don't want to spend much more on marketing right now. So unlike most shitty clone cones with good marketing, Cryptonite has cool new features but shitty marketing (probably one reason the price hasn't been doing so well lately). I truly don't have any idea what you're trying to achieve here, other than proving you aren't cut out to be an internet detective.

There is nothing you or similar scumbags can teach me. Leave pathetic retoric, coverups and lies for people on who you and your friends will be dumping coins you instamined.
I don't really care if you implemented mini-blockchain or invented Warp Drive, free energy generator or something else of eventualy epic proportions - if you are trustworthy and
decent person you would stop failed launch and fix shits before starting again. But as said earlier, that was not and is still not in your interest.

[yellowduck2]

There is nothing you or similar scumbags can teach me. Leave pathetic retoric, coverups and lies for people on who you and your friends will be dumping coins you instamined.

http://www.youtube.com/watch?v=ne85G6yXsU8

[bitfreak!]

There is nothing you or similar scumbags can teach me. Leave pathetic retoric, coverups and lies for people on who you and your friends will be dumping coins you instamined.

Lol I'm not delusional enough to think I could convince you of anything.

if you are trustworthy and decent person you would stop failed launch and fix shits before starting again. But as said earlier, that was not and is not in your interest.

And what of the vast majority of miners who weren't affected by the bug? We should've just scrapped all their work and risked a fork? That would've been a fair and intelligent move would it?

[subSTRATA]

if you are trustworthy and decent person you would stop failed launch and fix shits before starting again. But as said earlier, that was not and is not in your interest.

And what of the vast majority of miners who weren't affected by the bug? We should've just scrapped all their work and risked a fork? That would've been a fair and intelligent move would it?

"miners who weren't affected by the bug" = you, your friends and other insiders so of course you don't like idea of nulling "major" mining efforts put into XCN on the first day, it all
costed a shitload of money, right?