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

[A-tM]

Here is a rough plan of what should be done:
1. Write whitepaper. It is harder for me to write texts than to write code but I'm working on it.
2. Optimize CPU mining using code from existing X11 CPU miners. I'm working on it.
3. GPU miner. It is cool that we can still mine on CPUs but someone can make a GPU miner and use it privately. It would be better if we will have GPU miner available to everyone.
4. Make a better website. I'm not a web designer so I will need some help here.
5. Besides of that we need some promotion. Probably here are people who are more experienced in this and can help. In particular BITDV wanted to work on this.
Seems that there is a strong opposition to adding SpreadCoin to exchanges right now so I didn't add it to this list.

We can offer reward (in spreadcoins) for someone who will work on these tasks.

Well. Thank you for the list.
I offer bounty 1000+1000 SPR exclusively for the developer, for the first two items of the list.
(Sorry for the loss of your SPRs, maybe this reinforcement will help a bit  )
I really appreciate your work.

Regards,
Andy

[shifty252]

Here is a rough plan of what should be done:
1. Write whitepaper. It is harder for me to write texts than to write code but I'm working on it.
2. Optimize CPU mining using code from existing X11 CPU miners. I'm working on it.
3. GPU miner. It is cool that we can still mine on CPUs but someone can make a GPU miner and use it privately. It would be better if we will have GPU miner available to everyone.
4. Make a better website. I'm not a web designer so I will need some help here.
5. Besides of that we need some promotion. Probably here are people who are more experienced in this and can help. In particular BITDV wanted to work on this.
Seems that there is a strong opposition to adding SpreadCoin to exchanges right now so I didn't add it to this list.

We can offer reward (in spreadcoins) for someone who will work on these tasks.

Well. Thank you for the list.
I offer bounty 1000+1000 SPR exclusively for the developer, for the first two items of the list.
(Sorry for the loss of your SPRs, maybe this reinforcement will help a bit   )
I really appreciate your work.

Regards,
Andy

I'll match A-tm's bounties for the DEV (1000+1000 SPR) for first 2 items, plus:

1000 SPR bounty for #3 - GPU Miner
1000 SPR bounty for #5 - Promotion

[siliconchip]

@Dev,
Is it possible for SpreadX11 aglo to be cracked by FPGA or ASIC with low cost?

[Mr. Spread]

@Dev,
Is it possible for SpreadX11 aglo to be cracked by FPGA or ASIC with low cost?

I'm not an FPGA or ASIC designer so I can't tell you this for sure. It is at least not easier than X11 and I believe it is actually harder because it is more complicated. Although X11 is used as part of this algorithm even if you already have X11 FPGA design it doesn't meant that you can easily adapt it to SpreadCoin.

[binary_tree]

No algo can resist for FPGA or ASIC for long as long as it is profibale enough.

[binary_tree]

We hate FPGA & ASIC.
But a GPU miner is warmly welcomed to come. 

[girino]

@Dev,
Is it possible for SpreadX11 aglo to be cracked by FPGA or ASIC with low cost?

I'm not an FPGA or ASIC designer so I can't tell you this for sure. It is at least not easier than X11 and I believe it is actually harder because it is more complicated. Although X11 is used as part of this algorithm even if you already have X11 FPGA design it doesn't meant that you can easily adapt it to SpreadCoin.

Well, there are FPGA and ASIC algos for RSA, so it should not be hard to implement ECDSA. But even if ECDSA is not efficient in ASIC, X11 is so much more efficient that you can have hybrid solutions and immensely improve performance by using ASIC (use ASIC for the X11 hashing and leaving the signing to be done by GPU, for example). You would not be able to use some specific X11 hardware (some already exist in the wild, though not commercially available) because of the block size, but changing the project to deal with larger blocks is quite trivial because only the "blake" part needs to be altered.

The point is: ASIC needs a huge initial investment, and currently, with low prices for cryptocoins, not even regular X11 has a market big enough for it to be profitable. AFAIK, not even scrypt hardware is profitable (for the manufacturers) anymore. So i wouldn't expect anyone investing in ASIC or FPGA for Spreadcoin unless it becomes even more accepted than litecoin or doge...

[guiyang]

dev, if we do not consider the exchange this coin is equivalent to a few people in the game
Suicidal!

[A-tM]

dev, if we do not consider the exchange this coin is equivalent to a few people in the game
Suicidal!

I understand, but think: who will by this coin with the current status?
What the price will be? If ordinary miner has access to say 1000 SPR daily?
Very soon the price will be ruined.

Miners will start to mine and mine only until if it is profitable.
We need greater hashpower share, then also the market will be greater, and the investment of the first supporters including the developer can return.
Of course the coin needs to be attractive also by what it offers. I like no-pool design, and right now also the absence of GPU miners makes it somewhat more interesting. But exactly what the dev said - it is only matter of time somebody will adapt GPU miner, and if it will not be public, he can take huge amount of coins and if he starts to dump, he can ruin the coin completely. So it is essential either to make this coin solely CPU minable (which is not possible with this form of algorithm AFAIK), or to develop an efficient GPU miner. So the forces can be equally spread, and the decentralisation can be retained.

[A-tM]

So, before the coin appear on exchanges, it needs to have much greater userbase.
It means promotion, promotion, promotion, attract more miners to it!

You can offer bounties, or help with informing the public.

Regards,
Andy

[PrestonTrader]

i have a website and i want talk about spreadcoin.

[bitcurrenty]

Here is a rough plan of what should be done:
1. Write whitepaper. It is harder for me to write texts than to write code but I'm working on it.
2. Optimize CPU mining using code from existing X11 CPU miners. I'm working on it.
3. GPU miner. It is cool that we can still mine on CPUs but someone can make a GPU miner and use it privately. It would be better if we will have GPU miner available to everyone.
4. Make a better website. I'm not a web designer so I will need some help here.
5. Besides of that we need some promotion. Probably here are people who are more experienced in this and can help. In particular BITDV wanted to work on this.
Seems that there is a strong opposition to adding SpreadCoin to exchanges right now so I didn't add it to this list.

We can offer reward (in spreadcoins) for someone who will work on these tasks.

Well. Thank you for the list.
I offer bounty 1000+1000 SPR exclusively for the developer, for the first two items of the list.
(Sorry for the loss of your SPRs, maybe this reinforcement will help a bit   )
I really appreciate your work.

Regards,
Andy

I'll match A-tm's bounties for the DEV (1000+1000 SPR) for first 2 items, plus:

1000 SPR bounty for #3 - GPU Miner
1000 SPR bounty for #5 - Promotion

It would be better to put this plan and specific donation addresses on the OP

[Mr. Spread]

I think we need to approach exchanges. There is a fear that adding SpreadCoin to exchanges will ruin the price but no one forces you to sell it now, you can wait and sell later. I don't think that adding it later will make price higher, price will always be determined by supply and demand. For low volume coins price can easily go up or down 10x in one moment because of just one person who will buy or sell many coins.
In fact, low price can be advantageous for us, people who don't belive in the future of SpreadCoin will sell and those who do will buy.
What do you think?
Of course we don't have large community and it may be hard to convince exchanges to list SpreadCoin, but we can try.

[shifty252]

I think we need to approach exchanges. There is a fear that adding SpreadCoin to exchanges will ruin the price but no one forces you to sell it now, you can wait and sell later. I don't think that adding it later will make price higher, price will always be determined by supply and demand. For low volume coins price can easily go up or down 10x in one moment because of just one person who will buy or sell many coins.
In fact, low price can be advantageous for us, people who don't belive in the future of SpreadCoin will sell and those who do will buy.
What do you think?
Of course we don't have large community and it may be hard to convince exchanges to list SpreadCoin, but we can try.

I'm ok with listing it on exchanges, but in my opinion it should be done only after the whitepaper is released.

Can you update us regarding the whitepaper and improved cpu miner ?

[bitcurrenty]

I think we need to approach exchanges. There is a fear that adding SpreadCoin to exchanges will ruin the price but no one forces you to sell it now, you can wait and sell later. I don't think that adding it later will make price higher, price will always be determined by supply and demand. For low volume coins price can easily go up or down 10x in one moment because of just one person who will buy or sell many coins.
In fact, low price can be advantageous for us, people who don't belive in the future of SpreadCoin will sell and those who do will buy.
What do you think?
Of course we don't have large community and it may be hard to convince exchanges to list SpreadCoin, but we can try.

I support SPR to be listed on the exchange ASAP.

[Frigga77]

I think we need to approach exchanges. There is a fear that adding SpreadCoin to exchanges will ruin the price but no one forces you to sell it now, you can wait and sell later. I don't think that adding it later will make price higher, price will always be determined by supply and demand. For low volume coins price can easily go up or down 10x in one moment because of just one person who will buy or sell many coins.
In fact, low price can be advantageous for us, people who don't belive in the future of SpreadCoin will sell and those who do will buy.
What do you think?
Of course we don't have large community and it may be hard to convince exchanges to list SpreadCoin, but we can try.

I support SPR to be listed on the exchange ASAP.

me too 

[Mr. Spread]

Sorry for long responces, I'm quite busy in these days. Whitepaper is almost ready.

Optimized cpu miner will take some time, existing X11 cpu miner is specifically made and optimized for specific block header size. It isn't very trivial to adapt it to SpreadCoin.

[girino]

Sorry for long responces, I'm quite busy in these days. Whitepaper is almost ready.

Optimized cpu miner will take some time, existing X11 cpu miner is specifically made and optimized for specific block header size. It isn't very trivial to adapt it to SpreadCoin.

You can dump the optimizations on blake and use only the optimization on the other algos. blake is quite fast compared with SIMD, echo, cubehash, jh or groestl, (almost 10 times faster than any of them), so dumping the optimizations on blake wont make much difference in the speed up, and would make it quite easy to port.

[Mr. Spread]

You can dump the optimizations on blake and use only the optimization on the other algos. blake is quite fast compared with SIMD, echo, cubehash, jh or groestl, (almost 10 times faster than any of them), so dumping the optimizations on blake wont make much difference in the speed up, and would make it quite easy to port.

Thanks for advice, I will probably take this approach.

The longer this goes off exchanges and unnoticed, the harder time you will have convincing people it's a coin worth buying/mining/trading when the time comes.

Here's my prediction, as this has happened to quite a few coins with new ideas: you will continue to develop, you might find developers to help for bounties, then someone will fork all of the work into a clone coin, call it something else, get a flashy logo/name, have the GPU miner ready thanks to your work, and completely steal the thunder from SPD. Why wouldn't they? Why come mine something that has an early-adopter base who've been mining weeks/months quietly, when you can just launch the good ideas with a more motivated promotional team and be an early adopter yourself?

If you do not market your innovation, someone else will. That's just the way it goes in altcoins. Hesitation rewards no one here.

Thanks for sharing your thoughts, promotion is definitely what this coin needs. Unfortunately I don't have a promotional team yet but I will do some promotion by myself in coming days. Can you please give examples of these other coins?

[gjhiggins]

Can you please give examples of these other coins?

They weren't all successful ...

Slimcoin - https://bitcointalk.org/index.php?topic=613213.0

attempted hijack three weeks later by:

Third Generation coin - https://bitcointalk.org/index.php?topic=643300.0


Cheers

Graham