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

[Frigga77]

SPR will grow bigger than bigger in the coming months.

I believe much bigger than most people think to be honest

My exepected price of SPR is higher than DRK.

a lightweight whitepaper from somebody who is clearly a very talented developer.

How is the whitepaper lightweight???

did you read it?

I've just read it again and it says Spreadcoin  is a currency with no mining pools that has a smoother block reward decrease and a marginally streamlined transaction format.

What about this part? Does not sound lightweight to me, but I am not a programmer.

<cut from whitepaper>
To prove knowledge of the private key and whole block there are two new fields in the block header:
MinerSignature and hashWholeBlock.
MinerSignature is a digital signature of all fields of the block header except for the
hashWholeBlock. Changing any information in the block requires regeneration of this signature which
means that it is necessary to recalculate it during each iteration of the mining process. This implies that
miner must be able to sign any arbitrary data.
hashWholeBlock is a SHA-256 hash of the block data arranged as follows:
Padding ensures that there is no incentive to mine empty blocks without transactions. Padding values
are computed using simple algorithm which initializes last 32 bytes (8 uint32) with hashPrevBlock
and then goes backward and computes remaining uint32 values using the following recursive formula:
𝐼𝑖 = 𝐼𝑖+3 ∙ 𝐼𝑖+7. This algorithm ensures that there is no efficient way to compute padding values on the
fly during hash computation which otherwise could potentially give some advantage to mine empty
blocks in certain computing environments.
It is important that block is hashed twice. If it was hashed only once then pool could hash the beginning
of the block and send resulting hash state to the miners. Each miner would then modify some
information in the end of the block and recalculate the hash based on the known state without actual
knowledge about what is contained in the beginning of the block. Appending block data to itself make it
necessary to know the whole block to recalculate hashWholeBlock.
</cut from whitepaper>

That's a description of how one of the features is going to work.

I thought it is a desciption of how of this feature (true decentralization) already works? In my opinion this whitepaper does not describe what is going to be implemented, but what already is implemented. I thought another whitepaper will come when Mr. Spread has reviewed Darkcoin and has decided if and how he will implement Darknodes.

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[LitcoinCollector]

Mr Spread knows what he is doing. He is creating a great coin, taking his time to get it right.

[girino]

I thought it is a desciption of how of this feature (true decentralization) already works? In my opinion this whitepaper does not describe what is going to be implemented, but what already is implemented. I thought another whitepaper will come when Mr. Spread has reviewed Darkcoin and has decided if and how he will implement Darknodes.

You thought it right. The White paper was written after the fork that implemented those changes. I'm not sure what  stonehedge calls "lightweight", so i'd also appreciate if he explained what he means by that.

The whitepaper is quite detailed for a whitepaper. Keep in mind this is not an academic article, but a business one, so yes, he has to keep it simple so business people (i.e. investors) can understand it. If you need more detailed explanations of the science and technology behind the implementation, i am sure Mr. Spread will be glad to provide it, but that is not the point of a whitepaper.

[hashcash]

Also, it probably wise at some point to have a independent person review the health of the mining environment and whether the decentralised approach has strengthened or weakened the coin in reality.

Finally, if the plan still is to implement masternodes and darksend then that infrastructure will need to be in place.

Once there is some substance to this thread who knows how high this coin could go?  Mr Spread has been quick to come to the DRK thread and point out coding inconsistencies and bugs but doesn't seem to be talking too much about plans and development on this thread.

I'm not trying to troll here.  I read this thread because I'm interested in the development of this coin but so far I have seen nothing that makes me want to buy in.  Nothing but vague statements and a lightweight whitepaper from somebody who is clearly a very talented developer.
[/quote]

+100

Absolutely agree! If the mining has any type of backdoor multipool capability this coin is done.  But at these prices and a capable dev as Mr. Spread is proving to be, a couple btc investment is worth the risk.

Edit: Quoted from Stonehedge...sorry brother got backspace happy

[coins101]

Mr Spread knows what he is doing. He is creating a great coin, taking his time to get it right.

That was so motivational.

Thanks for that.

[coins101]

SPR will grow bigger than bigger in the coming months.

I believe much bigger than most people think to be honest

I think in 2015, we will 100% have a White Christmas in London.

[stonehedge]

I thought it is a desciption of how of this feature (true decentralization) already works? In my opinion this whitepaper does not describe what is going to be implemented, but what already is implemented. I thought another whitepaper will come when Mr. Spread has reviewed Darkcoin and has decided if and how he will implement Darknodes.

You thought it right. The White paper was written after the fork that implemented those changes. I'm not sure what  stonehedge calls "lightweight", so i'd also appreciate if he explained what he means by that.

The whitepaper is quite detailed for a whitepaper. Keep in mind this is not an academic article, but a business one, so yes, he has to keep it simple so business people (i.e. investors) can understand it. If you need more detailed explanations of the science and technology behind the implementation, i am sure Mr. Spread will be glad to provide it, but that is not the point of a whitepaper.

Whether I read it as an investor or as an IT professional, it still doesn't actually mention many plans of features for the coin.

I really like the idea of decentralising mining.  I would love to see this coin work.  Mr Spread has proven himself to know what he is doing.  Having said that, he hasn't shared much of those plans with the public yet.

On a separate note I tried to mine some Spreadcoins over the last two days but the provided X11 miner only gets 1MH out of a 290x and network hashrate is over 2GH.  I'd be interested to see whether by removing pools this coin has simply created a solo mine arms race.  2GHps of X11 is a lot of GPUs  

[NoobKidOnTheBlock]

I thought it is a desciption of how of this feature (true decentralization) already works? In my opinion this whitepaper does not describe what is going to be implemented, but what already is implemented. I thought another whitepaper will come when Mr. Spread has reviewed Darkcoin and has decided if and how he will implement Darknodes.

You thought it right. The White paper was written after the fork that implemented those changes. I'm not sure what  stonehedge calls "lightweight", so i'd also appreciate if he explained what he means by that.

The whitepaper is quite detailed for a whitepaper. Keep in mind this is not an academic article, but a business one, so yes, he has to keep it simple so business people (i.e. investors) can understand it. If you need more detailed explanations of the science and technology behind the implementation, i am sure Mr. Spread will be glad to provide it, but that is not the point of a whitepaper.

Whether I read it as an investor or as an IT professional, it still doesn't actually mention many plans of features for the coin.

I really like the idea of decentralising mining.  I would love to see this coin work.  Mr Spread has proven himself to know what he is doing.  Having said that, he hasn't shared much of those plans with the public yet.

On a separate note I tried to mine some Spreadcoins over the last two days but the provided X11 miner only gets 1MH out of a 290x and network hashrate is over 2GH.  I'd be interested to see whether by removing pools this coin has simply created a solo mine arms race.  2GHps of X11 is a lot of GPUs  

Oh I gave up mining them the first time I got a block reward of only 6.46 because with no pool mining or anything like that the real only way to acquire a decent amount of SpreadCoin is through purchasing them my friend And I suggest getting as many as you possibly can because they are going to go through the roof come the New Year that's for sure

[thelonecrouton]

On a separate note I tried to mine some Spreadcoins over the last two days but the provided X11 miner only gets 1MH out of a 290x and network hashrate is over 2GH.  I'd be interested to see whether by removing pools this coin has simply created a solo mine arms race.  2GHps of X11 is a lot of GPUs  

PoW is probably always going to be an arms race, but at least solo mining makes it a useful arms race. Soloing is more like playing the lottery, I'm hoping more folk will just point a single GPU or CPU at it and rejoice if/when they ever get a block, instead of treating it as a living, which mining was never intended to be.

Mr Spread, any thoughts on having mining on by default in the wallet, at minimum (eg. 1 thread) CPU load? Is there a way of setting a percentage of CPU power to mine? If it's beneath the notice of people, they're probably going to leave it on, although there should be an option to disable it. Every little helps.

[sparkster]

For some reason I think Mr. Spread do not actually afraid that somebody will 'steal' his ideas, but he's just a humble man and want first to do, then to say. What if he announces some feature but will be not capable to implement it in the end? Darknodes are already released in DRK code and Mr. Spread can just improve them, so it's not such a big risk. Anyway, it's his decision. Even without loud promises people sooner or later will see what coin is the best.

[beaver6]

I thought it is a desciption of how of this feature (true decentralization) already works? In my opinion this whitepaper does not describe what is going to be implemented, but what already is implemented. I thought another whitepaper will come when Mr. Spread has reviewed Darkcoin and has decided if and how he will implement Darknodes.

You thought it right. The White paper was written after the fork that implemented those changes. I'm not sure what  stonehedge calls "lightweight", so i'd also appreciate if he explained what he means by that.

The whitepaper is quite detailed for a whitepaper. Keep in mind this is not an academic article, but a business one, so yes, he has to keep it simple so business people (i.e. investors) can understand it. If you need more detailed explanations of the science and technology behind the implementation, i am sure Mr. Spread will be glad to provide it, but that is not the point of a whitepaper.

Whether I read it as an investor or as an IT professional, it still doesn't actually mention many plans of features for the coin.

I really like the idea of decentralising mining.  I would love to see this coin work.  Mr Spread has proven himself to know what he is doing.  Having said that, he hasn't shared much of those plans with the public yet.

On a separate note I tried to mine some Spreadcoins over the last two days but the provided X11 miner only gets 1MH out of a 290x and network hashrate is over 2GH.  I'd be interested to see whether by removing pools this coin has simply created a solo mine arms race.  2GHps of X11 is a lot of GPUs  

290X can mine at the speed of 2.5MH/s 

[beaver6]

No pool is kind of protection from mulitipool.Just take a look at what happened to the mulitipool coin,aways be raped by whales and become a P&D coin in the end.

[NoobKidOnTheBlock]

I firmly believe that Mr. Spread knows exactly what he is doing with this coin and the path that this coin is gonna take and all I wanna say is that I would grab as much as I possibly could right now.  I swear its the only coin I would go all in on right now in altcoins

[coins101]

On a separate note I tried to mine some Spreadcoins over the last two days but the provided X11 miner only gets 1MH out of a 290x and network hashrate is over 2GH.  I'd be interested to see whether by removing pools this coin has simply created a solo mine arms race.  2GHps of X11 is a lot of GPUs  

Beat me to it.  I was just about to start mining to see what's what.

One of the things I wanted to see was if there was the potential for a secret optimized miner being produced.

XMR had some guy raping it for months without anyone knowing

http://da-data.blogspot.de/2014/08/minting-money-with-monero-and-cpu.html


edit

what temps do you get with the 290x?

I've got a small farm of 290 Tri-x's I was about to switch on.

[girino]

Hey guys, would it be possible to create a pool like this;


Each miner mines to a separate address. The pool (and the miner obviously) knows the private key.
The pool has insurance of lets say, 15 spr in a separate address for each miner. The insurance needs to be paid by the miner before he starts mining.

The miner submits shares and once he finds a block he publishes it to the network.

If the miner steals coins from his address then he gets banned from the pool and the pools uses his insurance to pay the other miners.


Could this work? Or is it not possible because it isn't how mining works for spreadcoin?

 this is quite possible, but if the miner finds say, 3 blocks in a row, he can still "steal" them and have a proffit. So the value os the "insurance" should be how much you can mine in the time a block takes to mature. Say, it matures in 100 blocks, "insurance" would have to be at least 660.0 SPR. That would make most people avoid pools...

[Mr. Spread]

Hey guys, would it be possible to create a pool like this;


Each miner mines to a separate address. The pool (and the miner obviously) knows the private key.
The pool has insurance of lets say, 15 spr in a separate address for each miner. The insurance needs to be paid by the miner before he starts mining.

The miner submits shares and once he finds a block he publishes it to the network.

If the miner steals coins from his address then he gets banned from the pool and the pools uses his insurance to pay the other miners.


Could this work? Or is it not possible because it isn't how mining works for spreadcoin?

The problem here is that if you will find a block and will not try to steal its reward pool can still claim that you are trying to steal it and use both your funds and block reward. For external observer it is not possible to distinguish between situations when you are trying to steal money and when pool operators are just lying about this. Even if pool is operated by some legally registered entity with non anonymous owners they can steal your money and you wouldn't be able to prove anything.

If you cannot find blocks consistently but are still mining that means that even one block's reward worth something for you.

[e1ghtSpace]

Hey guys, would it be possible to create a pool like this;


Each miner mines to a separate address. The pool (and the miner obviously) knows the private key.
The pool has insurance of lets say, 15 spr in a separate address for each miner. The insurance needs to be paid by the miner before he starts mining.

The miner submits shares and once he finds a block he publishes it to the network.

If the miner steals coins from his address then he gets banned from the pool and the pools uses his insurance to pay the other miners.


Could this work? Or is it not possible because it isn't how mining works for spreadcoin?

The problem here is that if you will find a block and will not try to steal its reward pool can still claim that you are trying to steal it and use both your funds and block reward. For external observer it is not possible to distinguish between situations when you are trying to steal money and when pool operators are just lying about this. Even if pool is operated by some legally registered entity with non anonymous owners they can steal your money and you wouldn't be able to prove anything.

Wouldn't any pool be able to do this? Like ones for Bitcoin?


The pools could make their addresses public too.

[thelonecrouton]

Wouldn't any pool be able to do this? Like ones for Bitcoin?

How do you know that they aren't?

[e1ghtSpace]

Wouldn't any pool be able to do this? Like ones for Bitcoin?

How do you know that they aren't?

How do I know that they aren't stealing? Well that's what I'm asking.

[NoobKidOnTheBlock]

I don't think there are pools set up for SpreadCoin because we would be seeing a lot more action and there is literally no action right now because no one wants to part with their SpreadCoins! I've been waiting almost a week to have someone dump into my buy order and it's literally top of the buy list!! and no one will dump into me. So if there was someone or some people making a mint on SpreadCoin or had a huge stash we would see a lot more action in the buying and selling sides of things. I love that I stumbled upon this coin!! All HAIL MR. SPREAD!! Congrats on doing what should've been done in the very beginning and congrats on everything to come in the future for SpreadCoin!! Spreading the love folks! Cheers