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

[Minotaur26]

Oblox, is not fudding he was just giving his honest opinion. Fudding in this forums means making stuff up or trying to intentionally manipulate people.

oblox probably wouldn't be here if he didn't think SPR was a threat - why waste his time? He probably wants to protect the value of his massive amounts of DRK.

I dont think he has massive amounts for DRK, some people just want to make their point. This is a forum afterall,  I follow all the coins I consider to be in DRKs market segment, big or small, threats or not, just because I am interested in this space.  I also enjoy a good debate.

I could argue that you are here because your specialty is optimized mining and a coin with no pools just plays to your strenghts as you can mine with an advantage and dump on people with no competition from pools. Everyone does what they do for their own reasons.

[thelonecrouton]

OK, I will make an effort to respond. What I meant was that having no pools is in no clear way a great solution to the problem it was intending to solve as it creates other avenues of manipulation. Pools allow small miners to come together and compete with large miners. In the absence of pools large mining farms can optimize their operation, mine with an advantage and dump on people easier than in a environment that allows for pooled mining.  

In conclusion, there are disadvantages to eliminating pooled mining. It is not a poweful solution to the problem.

Pools have no effect one way or another on the behaviour of larger farmers. How do pools make selling your mined coins easier exactly? What multipools do achieve is a constant downward price pressure as they sell straight into the bids every shift.

Pools allow smaller/short term miners a steadier income, but at the expense of concentrating hashpower in the hands of whoever controls any given pool, that's all.

[Minotaur26]

Oblox, is not fudding he was just giving his honest opinion. Fudding in this forums means making stuff up or trying to intentionally manipulate people.

oblox probably wouldn't be here if he didn't think SPR was a threat - why waste his time? He probably wants to protect the value of his massive amounts of DRK.

I dont think he has massive amounts for DRK, some people just want to make their point. This is a forum afterall,  I follow all the coins I consider to be in DRKs market segment, big or small, threats or not, just because I am interested in this space.  I also enjoy a good debate.

I could argue that you are here because your specialty is optimized mining and a coin with no pools just plays to your strenghts as you can mine with an advantage and dump on people with no competition from pools. Everyone does what they do for their own reasons.

Your last sentence is correct. However, how does a lack of pools help me, assuming I have a better miner and a farm? I make the same whether there are pools or not.

No pools and specially no Multipools, keeps the network smaller or at least limits its growth over time, because of this the percentage of the total hashrate you represent will be significant for a longer period of time or maybe forever in the absence of pools.

[thelonecrouton]

No pools and specially no Multipools, keeps the network smaller or at least limits its growth over time, because of this the percentage of the total hashrate you represent will be significant for a longer period of time or maybe forever in the absence of pools.

Where is your evidence of this, or the logic behind your statement? How does the lack of pools limit hashrate?

If you mean that big multipools can't mine and instadump, good. Solo mining encourages longer term miners who are more likely to value their mined coins, and less likely to dump them like clockwork twice a day at whatever the bid price happens to be.

I'll happily trade the lack of multipools and their constant price supression for a few less temporary GH/s. Such multipools do nothing for blockchain security anyway, like every other pool they just reduce it.

[oblox]

Oblox, is not fudding he was just giving his honest opinion. Fudding in this forums means making stuff up or trying to intentionally manipulate people.

I mostly agree, but...

The SpreadX11 came from a mistake in playing with the blocktemplate which is currently the sole selling point of this coin.

... this is as "made up" as it gets.

It will be bias as it comes from Flare, one of the members of the DRK team, but:

"What i got from the Spreadcoin thread is that the developer originally (by accident) changed the layout of the blocks, by using 64bit timestamps, which caused all X11 miners not to work anymore. It must have been this moment when he realized that this flaw could be a potential unique selling point of the coin: Not to be mineable in pools. So instead of fixing the coin, he decided to alter the block layout again, so that the address of the miner is part of the block, which means miners can cheat the pools, as the block is getting paid to the miner and not to the pool."

There are very few people that understand the technical workings of how things work in crypto, but Flare is one (and also one I respect). Mr Spread can obviously refute this if he so desires.

[Minotaur26]

I must say that I do enjoy having SPR around and I am excited to see what happens.  I am not investing in it though, as I don´t see the added value proposition in terms of the end user compared to DRK.  The differences are of form,  do the masternodes a little different, do the mining a little different, but nothing different than DRK or BTC for the end user. For now the only end user directed feature I have heard of is copying InstantX from DRK, but DRK already has that. So no original added value from an end user perspective yet, lets see what the future holds.

On the other hand, I dont like investing in anonymous developers and also I have the feeling that some early holders have more power over the project than the developer himself. So in the end, I wouldnt know who I am entrusting my money with.

The last thing that I would say is that the DRK holders that are here have all their bases covered, they already own nice amounts of DRK and is not like they sold those to hold SPR. So the newbies here should be careful and do the same and cover their bases buy some DRK.  Some of the DRK holders here see this as a side investment if it does not go well they still have their DRK so they are OK if it goes well they make some profit, so they don't have much to loose.

 Other DRK holders saw an opportunity to buy lots of this really cheap and promote it as an alternative within the community and then others bought that idea as they could buy more of this than they could DRK and are hoping for rewards. Those are all very good valid reasons to take a risk, but again, they all have their bases covered. If you are a newbie here with no DRK holdings you are assuming a greater risk than they are and that puts you at a disadvantage if you have decided you want to support this coin you must hedge your investment and buy some DRK, since for now it is trying to be a copy of a much more established coin, it makes no sense to only hold the copy.  The ones that hold the original and the copy too, have all their bases covered are doing it right. The ones that only hold the copy are running a greater risk and are at the hands of the first group.

Good luck with the project, lets see how it goes.   I am staying with DRK though a lot more to do still. Cheers.

[e1ghtSpace]

Oblox, is not fudding he was just giving his honest opinion. Fudding in this forums means making stuff up or trying to intentionally manipulate people.

I mostly agree, but...

The SpreadX11 came from a mistake in playing with the blocktemplate which is currently the sole selling point of this coin.

... this is as "made up" as it gets.

It will be bias as it comes from Flare, one of the members of the DRK team, but:

"What i got from the Spreadcoin thread is that the developer originally (by accident) changed the layout of the blocks, by using 64bit timestamps, which caused all X11 miners not to work anymore. It must have been this moment when he realized that this flaw could be a potential unique selling point of the coin: Not to be mineable in pools. So instead of fixing the coin, he decided to alter the block layout again, so that the address of the miner is part of the block, which means miners can cheat the pools, as the block is getting paid to the miner and not to the pool."

There are very few people that understand the technical workings of how things work in crypto, but Flare is one (and also one I respect). Mr Spread can obviously refute this if he so desires.

Mr. Spread said he changed the layout to 64 bit to fix the year 2106 problem.
He obviously didn't know external miners didn't work until after.

Also there is a quote somewhere of the very early OP and he says "I'm trying to do something but I don't know if it will work" or something. Clearly it was not an accident.

edit:

Hi all!

I'm pretty new to this world of cryptocurrencies and I want to launch my own coin.

Here are its parameters:
Algorithm: X11
Block generation: 10 minutes
Difficulty retargets: every block
Initial reward: 66.66666666 coins per block
Block reward is smoothly halved every 4 years
Total supply: 20 mln coins

I may change these parameters in the future. In particular, I want to implement my own mining algorithm which I think will be great but I'm not yet sure if it is possible to do what I want.

Launch time: in one hour (9:00 UTC).

Source code
Windows wallet

[DeadCatBounceGod]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

[e1ghtSpace]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

F*CK OFF

[defunctec]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

F*CK OFF

Thank you... I ignored.

[thelonecrouton]

spam

If I was stupid enough to own that much any LTC I would just shoot myself in the head.

[e1ghtSpace]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

F*CK OFF

Thank you... I ignored.

Me?

[defunctec]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

F*CK OFF

Thank you... I ignored.

Me?

NO! lol, him/that/it/thing/poo/crap/rubbish/garbage/DeadCatBounceGod

[e1ghtSpace]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

F*CK OFF

Thank you... I ignored.

Me?

NO! lol, him/that/it/thing/poo/crap/rubbish/garbage/DeadCatBounceGod

lol ok. I wonder if anyone has ignored me.

[Minotaur26]

I must say that I do enjoy having SPR around and I am excited to see what happens.  I am not investing in it though, as I don´t see the added value proposition in terms of the end user compared to DRK.  The differences are of form,  do the masternodes a little different, do the mining a little different, but nothing different than DRK or BTC for the end user. For now the only end user directed feature I have heard of is copying InstantX from DRK, but DRK already has that. So no original added value from an end user perspective yet, lets see what the future holds.

On the other hand, I dont like investing in anonymous developers and also I have the feeling that some early holders have more power over the project than the developer himself. So in the end, I wouldnt know who I am entrusting my money with.

The last thing that I would say is that the DRK holders that are here have all their bases covered, they already own nice amounts of DRK and is not like they sold those to hold SPR. So the newbies here should be careful and do the same and cover their bases buy some DRK.  Some of the DRK holders here see this as a side investment if it does not go well they still have their DRK so they are OK if it goes well they make some profit, so they don't have much to loose.

 Other DRK holders saw an opportunity to buy lots of this really cheap and promote it as an alternative within the community and then others bought that idea as they could buy more of this than they could DRK and are hoping for rewards. Those are all very good valid reasons to take a risk, but again, they all have their bases covered. If you are a newbie here with no DRK holdings you are assuming a greater risk than they are and that puts you at a disadvantage if you have decided you want to support this coin you must hedge your investment and buy some DRK, since for now it is trying to be a copy of a much more established coin, it makes no sense to only hold the copy.  The ones that hold the original and the copy too, have all their bases covered are doing it right. The ones that only hold the copy are running a greater risk and are at the hands of the first group.

Good luck with the project, lets see how it goes.   I am staying with DRK though a lot more to do still. Cheers.

You REALLY wanna talk about initial distribution, when DRK was mined at low diff with a higher block reward, before it was dropped lower, fucking everyone who mined later?

In that particular line (I made several other points) I was not talking about "initial" distribution but about current distribution in general. See, what you are missing it that DRK is a first mover in its market segment, there was no previous benchmark of success when DRK was launched, so although the launch was very poor, people didn't have any particular incentive to hold their coins at that time. So a lot of the early holders sold several times over those amounts specially during DRK's first bubble all the way up to 15USD.

Also, there were some unplanned events that helped a lot with distribution, back in the early days there was a big hack on C-CEX I lost 1500USD on that hack. Where the hacker stole a bunch of BTC bought DRK with stolen coins, extract those DRK from C-CEX and dumped them all on Poloniex, people bought for nothing in Poloniex all of these stolen coins. Additionally, a lot of early holders are documented to have sold during the first bubble like InternetApe who sold 160K coins as he didn't know DRK was going to become what it did.  So time took care of distributing DRK properly.

 This does not really happen with clones, since this coin SPR was valued at only a few thousand satoshis people have been talking about it overtaking DRK so they just hold their coins and they don't ever sell them. There is already a benchmark, they are expecting it to "go to the moon" but this will not happen because the coin is not naturally distributed.  All coins that went to the moon were first movers in a way or another. BTC first coin ever, LTC first succesful altcoin, Dogecoin first meme public friendly coin, DRK first privacy centered coin, PPC first Proof of Stake, NXT, BTS, etc. All first movers.  

Natural distribution only happens when holders dont have a clear expectation of success so they are willing to sell with normal profits, creating a new bigger generation of holders until it reaches a critical point. This is really unlikely to happen with a clone as the success of the original is expected from day one.

This is my honest opinion, I guess we willl see what happens.

[soundwallet]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

F*CK OFF

Yeah,fuck off!! where this idot from??

[soundwallet]

All of this craps and idiots will shit up when SPR MN released successfully next weekend.
They just want to try to fud and buy cheap .

[e1ghtSpace]

Instead of crying over spilled milk on SPR, If you're looking for a coin with low market cap (less than $1.5k)? Look up Redcoin (RED)
http://coinmarketcap.com/currencies/redcoin/

Redcoin's market cap is cheaper than Spreadcoin, PLUS there are already sites, stores, and services accepting it! With less than 100 LTC, you could own 10% of all RED
Do the math, you could spend less than 850 LTC and own almost all RED, and as you buy more, the price will rise, then you can spend those Redcoins in shops and stores and get a HUGE discount, becuase you've bought them while they were cheap

...just a thought, but hey, look into it though, could be a way to recoup the losses on Spreadcoin

F*CK OFF

Yeah,fuck off!! where this idot from??

He might be the Redcoin dev. I left him neutral trust. We should all leave him neutral trust. It'll be funny.

[e1ghtSpace]

I must say that I do enjoy having SPR around and I am excited to see what happens.  I am not investing in it though, as I don´t see the added value proposition in terms of the end user compared to DRK.  The differences are of form,  do the masternodes a little different, do the mining a little different, but nothing different than DRK or BTC for the end user. For now the only end user directed feature I have heard of is copying InstantX from DRK, but DRK already has that. So no original added value from an end user perspective yet, lets see what the future holds.

On the other hand, I dont like investing in anonymous developers and also I have the feeling that some early holders have more power over the project than the developer himself. So in the end, I wouldnt know who I am entrusting my money with.

The last thing that I would say is that the DRK holders that are here have all their bases covered, they already own nice amounts of DRK and is not like they sold those to hold SPR. So the newbies here should be careful and do the same and cover their bases buy some DRK.  Some of the DRK holders here see this as a side investment if it does not go well they still have their DRK so they are OK if it goes well they make some profit, so they don't have much to loose.

 Other DRK holders saw an opportunity to buy lots of this really cheap and promote it as an alternative within the community and then others bought that idea as they could buy more of this than they could DRK and are hoping for rewards. Those are all very good valid reasons to take a risk, but again, they all have their bases covered. If you are a newbie here with no DRK holdings you are assuming a greater risk than they are and that puts you at a disadvantage if you have decided you want to support this coin you must hedge your investment and buy some DRK, since for now it is trying to be a copy of a much more established coin, it makes no sense to only hold the copy.  The ones that hold the original and the copy too, have all their bases covered are doing it right. The ones that only hold the copy are running a greater risk and are at the hands of the first group.

Good luck with the project, lets see how it goes.   I am staying with DRK though a lot more to do still. Cheers.

You REALLY wanna talk about initial distribution, when DRK was mined at low diff with a higher block reward, before it was dropped lower, fucking everyone who mined later?

Also, there were some unplanned events that helped a lot with distribution, back in the early days there was a big hack on C-CEX I lost 1500USD on that hack. Where the hacker stole a bunch of BTC bought DRK with stolen coins, extract those DRK from C-CEX and dumped them all on Poloniex, people bought for nothing in Poloniex all of these stolen coins. Additionally, a lot of early holders are documented to have sold during the first bubble like InternetApe who sold 160K coins as he didn't know DRK was going to become what it did.  So time took care of distributing DRK properly.

Mr. Spread also lost all of his mined coins. Also, coins were being sold on exchanges for 1k satoshis early on. I got in at 3k. Anyone could have done that.

[soundwallet]

Redcoin ?? hub ha,Redcoin ??!! Is that the coin trying to follow a dog(doge) ??
oh,please ,forget about it ,I dont even want to mention its name,indeed.