[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes

[MyFarm]

Hmm, one miner has 24% of the hashrate.  Interesting.  Looks like we found the dumper.

Nice chart by the way.

No, 24% is just within this top addresses.

To clarify, people brought up the concern that some miners aren't taken into account due to their blocks being sent to a new address each time.  Is this correct or did you find a workaround for that in this chart?

The blockchain dont know which addresses are in same wallet. We can just infer that, after he assemble that coins. like Sfxc14Aj5FHA7cwLqxZyMxdus5CgVxr9Mw.

Fair enough.  Would you be willing to continue to host all of this?

Yes, i host it, and it is updated once every day.

Sounds good.   Will you please:

1.  Post the link here again.
2.  Provide me your SPR address.
3.  Remind me how much I owe you

[1714860625]

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[1714860625]

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[1714860625]

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[thelonecrouton]

Hmm, one miner has 24% of the hashrate.  Interesting.  Looks like we found the dumper.

Nice chart by the way.

No, 24% is just within this top addresses.

To clarify, people brought up the concern that some miners aren't taken into account due to their blocks being sent to a new address each time.  Is this correct or did you find a workaround for that in this chart?

The blockchain dont know which addresses are in same wallet. We can just infer that, after he assemble that coins. like Sfxc14Aj5FHA7cwLqxZyMxdus5CgVxr9Mw.

Fair enough.  Would you be willing to continue to host all of this?

Yes, i host it, and it is updated once every day.

elbandi maybe you could ask Mr Spread to put a link in the OP and on the Spread website?

[Mr. Spread]

Hmm, one miner has 24% of the hashrate.  Interesting.  Looks like we found the dumper.

Nice chart by the way.

No, 24% is just within this top addresses.

To clarify, people brought up the concern that some miners aren't taken into account due to their blocks being sent to a new address each time.  Is this correct or did you find a workaround for that in this chart?

The blockchain dont know which addresses are in same wallet. We can just infer that, after he assemble that coins. like Sfxc14Aj5FHA7cwLqxZyMxdus5CgVxr9Mw.

Fair enough.  Would you be willing to continue to host all of this?

Yes, i host it, and it is updated once every day.

elbandi maybe you could ask Mr Spread to put a link in the OP and on the Spread website?

What link? There is no link in the quoted messages, are you talking about this http://104.36.83.126/spreadcoin ?

[MyFarm]

Hmm, one miner has 24% of the hashrate.  Interesting.  Looks like we found the dumper.

Nice chart by the way.

No, 24% is just within this top addresses.

To clarify, people brought up the concern that some miners aren't taken into account due to their blocks being sent to a new address each time.  Is this correct or did you find a workaround for that in this chart?

The blockchain dont know which addresses are in same wallet. We can just infer that, after he assemble that coins. like Sfxc14Aj5FHA7cwLqxZyMxdus5CgVxr9Mw.

Fair enough.  Would you be willing to continue to host all of this?

Yes, i host it, and it is updated once every day.

elbandi maybe you could ask Mr Spread to put a link in the OP and on the Spread website?

What link? There is no link in the quoted messages, are you talking about this http://104.36.83.126/spreadcoin ?

Yes

[minerpage]

Hmm, one miner has 24% of the hashrate.  Interesting.  Looks like we found the dumper.

Nice chart by the way.

No, 24% is just within this top addresses.

To clarify, people brought up the concern that some miners aren't taken into account due to their blocks being sent to a new address each time.  Is this correct or did you find a workaround for that in this chart?

The blockchain dont know which addresses are in same wallet. We can just infer that, after he assemble that coins. like Sfxc14Aj5FHA7cwLqxZyMxdus5CgVxr9Mw.

Fair enough.  Would you be willing to continue to host all of this?

Yes, i host it, and it is updated once every day.

elbandi maybe you could ask Mr Spread to put a link in the OP and on the Spread website?

What link? There is no link in the quoted messages, are you talking about this http://104.36.83.126/spreadcoin ?

Yes

Is this chart correct? The 21% part of it...

Edit: if correct then 21% of 4GH/s is 800MH/s which is pretty big for solo mining it seems... unless I'm missing something...

[pokeytex]

With 23 Mh I find 1-2 blocks per day. What a nonsense

You should be getting more
Last 24h i found 37 blocks with 80MH/s

damn lucky bastards and your being able to mine this fantastic coin I am totally envious of you guys and if anyone can help me set up my miner so I can possibly get more hash out of it that would be greatly appreciated.  I have an intel corei5 processors and I downloaded the AMD 14.9 catalyst so could someone help me out possibly with how to set up my start.bat for the miner? I am trying to use the one that Mr. Spread posted for the newbies who don't know how to mine

I would not processor mine anymore.  Only GPU mine.  I use (10) Nvidia EVGA 750ti's and I find about 6-10 blocks a day.  What is your GPU?  AMD?

I don't know for sure but there is a way I can check that out right? like somewhere I type something in and it will give me that information?

Hehe Noob you will have to know which GPU you have?  If not sure open the box and shine a flash light in there!  Or go to the mfr website and see what it came with if you didn't purchase it outright.

[MyFarm]

The Business Side of Spreadcoin

Disclaimer: I am in no way affiliated with Spreadcoin beyond that of an investor.  I do not know Mr. Spread and am in no way trying to step on any toes as this is his coin.  I simply have a successful business background that causes me to look at cryptocurrencies from a different perspective from many.



At present, the direction Spreadcoin is headed is towards masternode implementation.  Then what?  Maybe Mr. Spread knows, maybe not.  Improved masternodes in my opinion makes this a $x,xxx,xxx coin which is outstanding.  However, I am looking to invest in the next billion dollar coin.  I was an early adopter of bitcoin and I plan to be an early adopter of the next billion dollar cryptocurrency.  At present, the coin with the best chance of that is Ripple.  I don't say that because of its' current marketcap, but because of its investors: https://www.ripplelabs.com/investors/ and its' team: https://www.ripplelabs.com/team/ -- investors like that invest because of the team first and technology second.  And the interesting part is investors like that help form a killer team because not only have they, "Been there, done that" but they have innumerable connections.

Will there be a billion dollar coin after Ripple?  Yes.  Why not Spreadcoin?  What would it take for Spreadcoin to be the next billion dollar coin in a frothing sea of cryptocurrency?  I feel that the next billion dollar coin will be a combination of excellent technology from a developer or developers, creative marketing, and strong business acumen.  At present, some coins have decent marketing, but I haven't seen any that also have impressive business skills.  

We're looking for strong technology, marketing, and business acumen.  

Technology: We have an outstanding lead developer which is what attracted me to this coin first.  However, at some point we will need additional developers, QA personnel, etc.  Some coins like Darkcoin have attracted such people but it is getting harder and harder as the talent is diluted across hundreds of coins.

Marketing: We have none.  We may get lucky and a marketing guru decides to invest in SPR but the chances aren't extremely high.  How do we attract experienced, quality marketers?

Business Acumen: You have me.  Well, sorta.  This is a hobby for me.  I have a young child and I have retired to spend my time with him.  I find cryptocurrency to be absolutely fascinating so it has become a passionate hobby.  I can advise but do not want to lead.  Experienced, successful businessmen can be worth their weight in gold.

How do you attract developers and support staff, strong marketers, and experienced businessmen?  Do you hope they come across SPR?  No.  You give them some skin in the game.  In the business world that means stock options (eventual shares in the company if it is successful), mergers and acquisitions, and/or bringing in investors in exchange for shares and they provide capital so you can hire them.  Some coins have understood this to a degree and created premines but most were scams or used in an amateur fashion.  Ripple was all premine and has set aside massive amounts for this very purpose.

Spreadcoin has no premine.  Sure, we could create a superblock but most people hate superblocks.  I feel the impending implementation of masternodes is a unique opportunity for this to change.  What if each block had 33% go to miners, 33% go to masternode owners, and 33% go to the business development fund.  This fund could eventually be handled under the supervision of a legal entity directed by Mr. Spread and a competent team of experienced, bright, creative individuals.  It would provide the means to raise capital, attract talented individuals, and acquire other coins/businesses/technologies.

Is this the only way to a billion dollar coin?  No, bitcoin is proof of that.  But it had first mover advantage.  Mr. Spread may detest the idea of all of this to which I won't argue.  I simply wanted to give a possible direction for Spreadcoin to take, that, based upon my experience, if done well, could result in SPR becoming a billion dollar coin.

[antonio8]

I like the excitement and enthusiasm of people in this thread.

On the other hand I have been in a few coins where the community got too involved and things turned south.

I say let Mr. Spread continue as is. If people really have some good ideas you should be pm'ing Mr. Spread and if at that point it is a joint agreement then let it be posted in the thread.

Only saying this because we have no idea what all the future plans to this coin is or what or who Mr. Spread might be working on/with in the background. I just don't want to see a community becoming devided because someone might have an idea that others might like or not and then it just two different sides on the coin.

Again just my opinion but this rise has been slow and steady. We only have a few more weeks until the MN implementation if all is still on course. Let's wait and see how that goes a s planned.

[georgem]

I like the excitement and enthusiasm of people in this thread.

On the other hand I have been in a few coins where the community got too involved and things turned south.

I say let Mr. Spread continue as is. If people really have some good ideas you should be pm'ing Mr. Spread and if at that point it is a joint agreement then let it be posted in the thread.

Only saying this because we have no idea what all the future plans to this coin is or what or who Mr. Spread might be working on/with in the background. I just don't want to see a community becoming devided because someone might have an idea that others might like or not and then it just two different sides on the coin.

Again just my opinion but this rise has been slow and steady. We only have a few more weeks until the MN implementation if all is still on course. Let's wait and see how that goes a s planned.

Exactly...
This coin is young, even younger than darkcoin.
Mr.Spread has already proven that he knows what he does. Why rush things? But I am guilty of that too, I have so many ideas about "decentralization" that I am maybe overwhelming the thread here a little bit.
But it is so much fun, that I am not gonna stop, lol, because I feel like I am taking part in some important part of history regarding cryptocurrencies.
Suddenly a coin emerges where principles are more important than the usual greed for money.

@MrFarm: If we can make spreadcoin the most principled coin ever, where decentralization (and nothing else) is the main driver for development and community, then everything else you talk about will come naturally.

[MyFarm]

@MrFarm: If we can make spreadcoin the most principled coin ever, where decentralization (and nothing else) is the main driver for development and community, then everything else you talk about will come naturally.

Maybe.

I personally like creating my own luck, but that's just me.

[MemoryShock]

I like the excitement and enthusiasm of people in this thread.

On the other hand I have been in a few coins where the community got too involved and things turned south.

I say let Mr. Spread continue as is. If people really have some good ideas you should be pm'ing Mr. Spread and if at that point it is a joint agreement then let it be posted in the thread.

Only saying this because we have no idea what all the future plans to this coin is or what or who Mr. Spread might be working on/with in the background. I just don't want to see a community becoming devided because someone might have an idea that others might like or not and then it just two different sides on the coin.

Again just my opinion but this rise has been slow and steady. We only have a few more weeks until the MN implementation if all is still on course. Let's wait and see how that goes a s planned.

I think that this was well stated...and agree wholeheartedly. 

[georgem]

@MrFarm: If we can make spreadcoin the most principled coin ever, where decentralization (and nothing else) is the main driver for development and community, then everything else you talk about will come naturally.

Maybe.

I personally like creating my own luck, but that's just me.

Yes, but not by breaking your principles, right?

I don't even count ripple as a cryptocurrency, they just make up the value of their coin, and the amount of coinsupply can change from day to day. This is wallstreet/FED all over again.
Do they make money like hell? Sure... but who pays the bill?

Also, additional developers for spreadcoin will be found for sure, and Mr.Spread is already well invested in his own coin and will enjoy financial freedom should the value rise.
So no need for ridiculously centralized maneuvers like implementing a developer fund in the protocol.

[pokeytex]

I like the excitement and enthusiasm of people in this thread.

On the other hand I have been in a few coins where the community got too involved and things turned south.

I say let Mr. Spread continue as is. If people really have some good ideas you should be pm'ing Mr. Spread and if at that point it is a joint agreement then let it be posted in the thread.

Only saying this because we have no idea what all the future plans to this coin is or what or who Mr. Spread might be working on/with in the background. I just don't want to see a community becoming devided because someone might have an idea that others might like or not and then it just two different sides on the coin.

Again just my opinion but this rise has been slow and steady. We only have a few more weeks until the MN implementation if all is still on course. Let's wait and see how that goes a s planned.

Exactly - example - Paycoin

[Jesse Livermore]

A list of risks to Darkcoin I came up with back in May: https://darkcointalk.org/goto/post?id=4815#post-4815
A LOT of them ended up coming to fruition (like the exchange risk with MintPal going down). Anyhow I think a lot of them are pertainable to Spreadcoin.

1)Key Man Risk: Something could happen to Mr. Spread, the developer. Imagine if Bitcoin had emerged in this kind of environment where most government(s) now know what a Bitcoin is, and where there is a growing public knowledge of Bitcoin’s huge rise to wealth. It is essentially the Oklahoma land rush or the California gold rush all over again but at lightning speed, complete with an unregulated Wild West-type feel to it . Mr. Spread has successfully remained anonymous but imagine if he'goes public' with his real ID which marks him as a target for anyone (government, organized criminals, large angry Bitcoin/Darkcoin holders, who knows). Additionally, since the coin is tied to Mr. Spread's mind and his personal well-being it is also tied to the well-being of Mr. Spread's support network.

2)Key Man Risk Continued: And somewhat along the same lines, since it is just Mr. Spread something could happen to the network whilst he is unable to attend to a computer. This isn’t a global team of developers who have constant watching vigil over the Spreadcoin network.

3)Security risk: Hackers might (?) be able to compromise the Spreadcoin masternode or mining network (or who knows what else). Since Mr. Spread's no-pool network is such a new and relatively untested concept in the crypto-currency world, and since it is essentially Mr. Spread versus the entire hacking ‘community’ in China, Russia, NSA, etc, there is a chance that those out there could exploit and bring down one of these networks which would also bring down the coin. We have seen cryptocoins get attacked by double-spends, 51% attacks, as well as DDOS attacks galore.

4)Fraud Risk: Spreadcoin’s entire existence could be a huge elaborate scam made up Mr. Spread.

5)Technology Risk: Somehow the system just does not work right. So either the masternodes don’t talk to each other or there are many bugs that pop up that somehow hold back mass adoption by causing worry, or users’ SPR in MN's disappear or some other overall cataclysmic event(s) happens to the Darksend/masternode system.

6)Political Risk: The government might eventually realize that Spreadcoin is Bitcoin, minus the ability to see transaction histories like the Bitcoin blockchain allows, and they focus on potential illegal activities that could develop and they force Mr. Spread to shut down using whatever bogus legal means they can (money laundering laws, terrorist funding, etc).

7)Education/PR Risk: It could take awhile for mass-adoption by the Bitcoin community, who have seen firsthand the largest crypto-currency scams (Mt. Gox) unfold and destroy lives and well-being. And any negative PR caused by hacker attacks or internal bugs or even overall FUD could possibly pause mass-adoption. Furthermore, the general public, who right now have no clue what SpreadCoin is and barely know what a Bitcoin is, could take a longer time to convince if there are any ‘PR nightmares’.

8)Business Risk: A worthy competitor(s) could pop up and contest Spreadcoin’s head-start on no-pool, MN, anonymous transactions using an even better technology or concept or use a team of developers with a better reputation or team of global developers with serious money to back it up.

9)Exchange Rate Risk: Until SPR/USD legit exchanges come to fruition, the vast majority of Spreadcoin’s price discovery happens using Bitcoin conversion. This means that most of the time what happens to the BTC/USD price is happening to SPR/BTC as well, unless a strong negative correlation between SPR/BTC and BTC/USD develops.

10)Exchange Risk: Spreadcoin is tied to the well-being of Bittrex exchanges for now. Any kind of attacks, fraud or bugs on those exchanges that affect Spreadcoin holders will also affect the SPR/BTC price.

11)Expectations Risk: After an overall rally this past month without a working product for the Average Joe to use, nor any masternodes yet, there is definitely a hype factor here that could turn on the coin if the product (dynamic masternodes) or the payments to masternodes don’t meet expectations.

12)Mass-Adoption Risk: Bitcoin is facing an uphill battle in getting retailers/consumers to use Bitcoin. Spreadcoin faces a much steeper climb due to being more unknown.

Overall when I wrote these for Darkcoin, it was suddenly a multimillion dollar coin, however Spreadcoin is not even $200k, so many of these are years and years ahead possibly. And I think Spreadcoin will succeed but with these risk factors in the way I wouldn't go all-in like some.

And NEVER invest funds that you can't afford to completely lose!

Quick about me: I perform due diligence, similar to pointing out these kinds of risks, for a major hedge fund. Spotting excellent risk-rewards is my job.


JL

[LitcoinCollector]

I like the excitement and enthusiasm of people in this thread.

On the other hand I have been in a few coins where the community got too involved and things turned south.

I say let Mr. Spread continue as is. If people really have some good ideas you should be pm'ing Mr. Spread and if at that point it is a joint agreement then let it be posted in the thread.

Only saying this because we have no idea what all the future plans to this coin is or what or who Mr. Spread might be working on/with in the background. I just don't want to see a community becoming devided because someone might have an idea that others might like or not and then it just two different sides on the coin.

Again just my opinion but this rise has been slow and steady. We only have a few more weeks until the MN implementation if all is still on course. Let's wait and see how that goes a s planned.

Exactly...
This coin is young, even younger than darkcoin.
Mr.Spread has already proven that he knows what he does. Why rush things? But I am guilty of that too, I have so many ideas about "decentralization" that I am maybe overwhelming the thread here a little bit.
But it is so much fun, that I am not gonna stop, lol, because I feel like I am taking part in some important part of history regarding cryptocurrencies.
Suddenly a coin emerges where principles are more important than the usual greed for money.

@MrFarm: If we can make spreadcoin the most principled coin ever, where decentralization (and nothing else) is the main driver for development and community, then everything else you talk about will come naturally.

I agree, lets focus on true decentralisation. Community involvement is very important now, but I don't see a problem with that with Spread.

[georgem]

Very good points Jesse, and I agree with all of them.
Those are the general concerns that can be applied to any coin, any time. (even if a coin seems "established")

But that's exactly the reason why we have github, and why we insist on being open source, etc...
Decentralization itself will help mitigate most of the points you mentioned.
For example: Point 4) you make. If I look at the source code and find it brilliant, how can it be fraud? At this point, EVEN IF Mr.Spread was a fraudster I wouldn't care, because code doesn't lie.

Point 5) We have seen failed forks etc with pretty much every coin. That's the nature of the game, and the cool thing is that errors can be fixed, because we are talking about software and a network, not a house that is gonna crush on your head when built wrong.

The political points you make do not have any importance whatsoever to me. I do not care if "the self declared ruling class" is giving us permission to go forward or not. That's the first reason why satoshi created the blockchain in the first place, so we DON'T need to ask for permission. They can't crush us without showing their tyrannical face even more than they already have! Then they will lose their "supposed legitimacy" even more".

If we continue building up Spreadcoin, we will see more exchanges adding it by themselves.

It is always wrong to have too many expectations, but I always love endeavours which have CLEAR GOALS, and which follow CLEAR PRINCIPLES. That's why I am invested in Spreadcoin.

Just making money is NOT a principle to me, it's just a side effect of investing your time and efforts.

Plus: nobody owes you anything, if a person desires to become rich, they should work their ass off, not speculate.  

[eahmadov]

The Business Side of Spreadcoin

At present, the coin with the best chance of that is Ripple. I don't say that because of its' current marketcap, but because of its investors: https://www.ripplelabs.com/investors/ and its' team: https://www.ripplelabs.com/team/ -- investors like that invest because of the team first and technology second.  And the interesting part is investors like that help form a killer team because not only have they, "Been there, done that" but they have innumerable connections.

What if each block had 33% go to miners, 33% go to masternode owners, and 33% go to the business development fund.  This fund could eventually be handled under the supervision of a legal entity directed by Mr. Spread and a competent team of experienced, bright, creative individuals.  It would provide the means to raise capital, attract talented individuals, and acquire other coins/businesses/technologies.

I also think that with their investors and resources Ripple has the potential to be successful but by 'success' I mean they might become a preferred tool for some banks or businesses to transfer value. BUT If you are an investor and hoping to get large amount of profit from rising ripple price then I am afraid you might have to wait for the USD to collapse. If a person invested in ripple now and hoping to receive 10 times profit, ripple market cap will have to reach to $ 6 billion. Even then we have no guarantee that ripple will not flood the market with freshly 'printed' coins. For ripple as a company it does not matter what the price of each coin is. They will do what they do (transfer value) regardless.

As a Spreadcoin investor, I am strongly against having mandatory dev team contribution in protocol level. But we can provide an option to the users if they choose to contribute voluntarily. Even in that case, there should be a clear and transparent reporting mechanism about how every coin has been spent.  

[thelonecrouton]

I like MyFarm's idea of a % of the block reward going to a transparent and accountable Spread Foundation, but I've proposed the same thing for Darkcoin several times and know how unpopular an idea it is.

People talk about principles but for most what it boils down to is that they can't bring themselves to give up a little now for a greater return down the line.* If your principles are so steadfast, how about supporting the adoption of Spread by contributing a little to its development, marketing, promotion? Relying on volunteer contributions isn't going to work.

Half the Spread Foundation's income from any block reward split could go to some worthy cause and Spread would still be better funded than just about anything but Ripple and the mindboggling nonsense that is Ethereum.

Nearly everyone on this forum seems to think that anyone or anything in the crypto scene matters at all to the rest of the world - it doesn't, at all, because the rest of the world doesn't even know we exist.

Getting the message out to the masses is going to take more that technical merit and wishful thinking.

When you have shitty phone apps that are valued in billions but something like Spread is valued three orders of magnitude less, you're doing something wrong. Maybe we need a crowdfunding campaign...



*edit: not once though in this thread have I heard any SPR miner complain, at all, that the block reward is going to get split between them and MN operators. This has been an absolutely fantastic and refreshing change from the Darkcoin thread, where miners have generally done nothing but bitch and moan about Masternode payments... so thank you fellow Spread miners for understanding that MNs will increase the value of SPR and are in your financial interest.

[georgem]

I like MyFarm's idea of a % of the block reward going to a transparent and accountable Spread Foundation, but I've proposed the same thing for Darkcoin several times and know how unpopular an idea it is.

No, no, no!

Transparency and Accountabilty are NOT equivalent with decentralization. In fact they are just camouflage to distract from their true centralized nature.

*edit: not once though in this thread have I heard any SPR miner complain, at all, that the block reward is going to get split between them and MN operators. This has been an absolutely fantastic and refreshing change from the Darkcoin thread, where miners have generally done nothing but bitch and moan about Masternode payments... so thank you fellow Spread miners for understanding that MNs will increase the value of SPR and are in your financial interest.

That I can agree with.

But since decentralized masternodes will have to play the exact same competitive game like miners, nobody is going to complain anymore anyway.
Wasn't this the main reason so many DRK miners complained about DRK Masternodes? The reason why they compared it to "forced taxation" etc?
Because they felt that masternodes have it too easy while they do all the work and have all the risk?

[e1ghtSpace]

I like MyFarm's idea of a % of the block reward going to a transparent and accountable Spread Foundation, but I've proposed the same thing for Darkcoin several times and know how unpopular an idea it is.

People talk about principles but for most what it boils down to is that they can't bring themselves to give up a little now for a greater return down the line.* If your principles are so steadfast, how about supporting the adoption of Spread by contributing a little to its development, marketing, promotion? Relying on volunteer contributions isn't going to work.

Half the Spread Foundation's income from any block reward split could go to some worthy cause and Spread would still be better funded than just about anything but Ripple and the mindboggling nonsense that is Ethereum.

Nearly everyone on this forum seems to think that anyone or anything in the crypto scene matters at all to the rest of the world - it doesn't, at all, because the rest of the world doesn't even know we exist.

Getting the message out to the masses is going to take more that technical merit and wishful thinking.

When you have shitty phone apps that are valued in billions but something like Spread is valued three orders of magnitude less, you're doing something wrong. Maybe we need a crowdfunding campaign...



*edit: not once though in this thread have I heard any SPR miner complain, at all, that the block reward is going to get split between them and MN operators. This has been an absolutely fantastic and refreshing change from the Darkcoin thread, where miners have generally done nothing but bitch and moan about Masternode payments... so thank you fellow Spread miners for understanding that MNs will increase the value of SPR and are in your financial interest.

I think giving up more then 5% of the block reward to the "foundation" is way too much. I would definately support 1%