Who wants to help rebuild ColossusCoin? (ColossusCoin 2.0 Beta Live 03/01/2015)

[Crestington]

Ok so lets get some ideas down.

I have done a fair bit of research and testing and I firmly believe that working with the entire float is the way to go. How would it be beneficial?

 I would first start with the following specs

POS only

19 Billion Float
7-21 day max weight
2 minute block time
50 coin minimum fee
5% per year

The advantage here is that it limits the coins available to Stake to 10k Blocks which create an average block to Stake at 1.9 million. The average amount of Stake participation within coins such as PeerCoin/NXT etc. is a maximum of 60% so the maximum Block size would be around 250k. First and foremost is all holders who have their coins in their wallets and don't have the option to trade. For all those people, they would receive an advantage as they would receive coins from inflation rewards, plus all the fees from distribution. As all fees go into Staking, we can wind down the entire amount held to a manageable amount through distribution of fees. The easiest way to do this is through settxfee in which a set fee is included into each block, thereby increasing the reward for each block found. We could do this as part of a promotional effort so that it increases the incentive to Stake, spread out your Blocks and create better security for the network.

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[Crestington]

A new trend is coming in the Altcoin scene, why make a new Coin when you can build equity onto an existing coin?

lol why would you build equity onto an coin, where most coins are already divided among people that dont really much care of it, since they put it into situation as it is?

If you are building a new coin onto an existing structure, you gain the benefits of distribution and all essential social networks.

[Crestington]

I have updated the OP. Will be away Nov 10-20, my Internet is currently down and not sure if it will be fixed before then. I have added 350k Multiwalletcoin to the Dev fund and have another 150k to add along with some MaryJaneCoin provided by Fire Rabbit.

[kingscrown]

when can we expect COL running again ?

[youandme123]

i just want to know when to run.

[rugrats]

i just want to know when to run.

I usually run in the mornings, but some prefer the evenings. It depends on your own schedule really.

[Crestington]

There is yet a fair bit of work to do on it and I have a question and wondering if someone may be able to help me answer this. Within a Proof of Stake only Coin, what is the advantage of x11/x15 over Scrypt and Sha256?

Rat4 of BlackCoin mentioned on the forums on several occasions that there is no advantage since these algorithms are designed for POW and guarding against specialized hardware but creates a larger amount of data as a result which is why they switched to sha256.

POW, well that is actually quite easy to do but you will always be fighting against new and emerging hardware so you need KGW or Darkhole and X15 and then next year you need x37 and then watching the price tank because of the sell pressure.



Proof of Stake relies on block size and ownership over time and pretty much eliminates the problem of sell pressure to a large degree, in fact you can actually suffer from lack of volume because no one is selling or trading their Coins.

What I am thinking with Proof of Stake is that you could set a defined amount of blocks in order to Stake such as a minimum of 7 days, maximum of 21 days, 2 minute block time but higher fees, and lower inflation (around 5%). I think the reason for this is that I think it would help better define the Blocks for Staking in that 10k Blocks Stake within a period along with thresholds, not to say it shouldn't need some input and changes but relying more on fees means that higher rewards depends and higher activity of the network as a whole.

Also the way the fees should be handled is that they readjust over time instead of going into the next block so that all coins that are part of fees are dispersed evenly. This would also be helpful for share giveback programs and opens the door to true percentage fees on transactions


I want to make sure this is all done correctly with the focus squarely on profitability for everyone and efficiency over time.


fire rabbit provided a few promotional videos for me and said it was alright if I hosted them here, he does great video work for Crypto and did some work for LiteCoinDark.

Here is a little video teaser for everyone

https://www.youtube.com/watch?v=fRHpZcIqb6I&feature=youtu.be


I updated the OP as well with the youtube video

[Fire Rabbit]

I'm very excited to be a part of this project. It's been a long journey to say the least. 

[Crestington]

Bumped for updated OP and edited for clarity.

[Crestington]

Ok so ColossusCoin 2.0 has begun to Stake and I have updated the OP with the specs and sourcecode. I have given out a portion of the Coins to a few Beta Testers and am looking for some help in resolving a rewards issue. The Coin is currently at Block 7300 and has transitioned into Proof of stake only.

The last block that I have received today about two hours and a half ago, its quantity was rare, not like the others before else 25040 CV2
I thought that it was good that you knew it.
I'm very happy finding blocks, but now it has stopped.
Today I have earned 600040 CV2. It is very funny.
Did you like the screenshoots?
If you needed that I colabore with some task you can explain it to me, and I will try do it.

One thing before end, today I have also received a block but it wasn't accepted.

The details were as the follow:
Estado: en conflicto, transmitir a través de 6 nodos
Fecha: 03/01/2015 12:51
Fuente: Generado
Débito: 0.00 CV2
Cantidad neta: -2000000.00 CV2
Identificador de transacción: de80c8b1bc01cb3f7228239630c8dc88bc891b45ed339f4b39d6c87cdcb02267
Generated coins must mature 60 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, its state will change to "not accepted" and it won't be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.

Best regards,

Ok so what we will do is ask people on BitcoinTalk for some help in resolving the issue quickly. It is not really a problem, just that you get much more reward than you are supposed to.

You Staked 2 million after approximately 7 days so at an award of 8% at lowest difficulty you should have received a maximum reward of 3,700 Coins plus 20 Coins from Fees.

Instead you Staked for 25,000 plus 40 Coins in Fees.

This means the reward for Staking is actually 25,000 per Block, plus twice the fees collected in the Block

[Hamuki]

Let the games begin!

[Crestington]

I created a commit as a preparation for a Hardfork for Reward Changes

https://github.com/Crestington/Colossuscoin2test/commit/0b1528d76baef39ffda185d7f1ab910df7462b46

The New Reward would then be a maximum of 4000 Coins a block, plus fees and a bonus of an extra 10% on Fees

Referenced here in main.cpp:

987  int64_t GetProofOfStakeReward(int64_t nCoinAge, unsigned int nBits, unsigned int nTime, int64_t nFees)
988  { 988  {
  989 +    int64_t nSubsidy = 0;
  990 +
  991 +    if ( nTime > REWARD_SWITCH_TIME )
  992 +        nSubsidy = GetProofOfStakeRewardV2(nCoinAge, nBits, nTime, nFees);
  993 +    else
  994 +        nSubsidy = GetProofOfStakeRewardV1(nCoinAge, nBits, nTime, nFees);
  995 +
 996 +    return nSubsidy;
  997 +}
  998 +
  999 +int64_t GetProofOfStakeRewardV1(int64_t nCoinAge, unsigned int nBits, unsigned int nTime, int64_t nFees)


What I am interested in here is whether or not it should be nSubsidy here or nSubsity + nFees?

Bounty of 10 Million Coins for help on the proper fix.

[muddafudda]

I'll look when I get home.

[tZKtdvt6]

Hello,

Why are you going to make some changes in the reward system?,

Don't you like the original reward system?, I was very happy earning 25k + Fee, but if only we are going to earn 4000 + 10%, each block,...

What is the problem with the original reward system, exactly?,

If I get understand what is the main problem of the reward system, or too much inflation or both, maybe I would like help to find a good solution for the CV2.

I would like to involucrate to myself to CryptoCoins developing. It must be funny a lot!

Thank you very much.

[tZKtdvt6]

In my personal opinion I think which is a bit boring is wait, wait for anything, for example If to win 40000 CV2
I must wait a minimum of seven days=5040blocks and also I must have the wallet open always, this last is very important by computers limits by ram and microproccesor.
The result is simply a coin boring.
It would be much better if, now that I understand the coin-control system a bit,
we could put the following instructions at code,
for example,
-----------
Block Reward System: 25000 CV2 + fee or a part of fees, these caracteristics could be changed also at runtime.
Block Time and Minimum Mining Confirmation: 120 seconds and 720, they could be dynamicly modified at runtime, by any kind of algorithm, more ahead more detail about thess points.
I would modify the coin-control system as the following, (Coin-Control feature is an excellent representation an more of how the CV2 coin works, but we could already make better if
we can, and the union is all the power),
The coin control could be modified as the following caracteristics,
The payment of the reward by block found is joined only with symilar kind of reward, then we only needed wait for staking by the payments by block reward, not for a conventional payment. Then we would staking always not only for a moment and wait and so. Then we would get a coin funny a lot!, people wants to be funny a lot, not boring.
The period of time to enable the payments reward to sum to the total staking amount, could be variable also with the mathematical algorithm without determine yet.

As you can observe we are letting many variables at runtime to let a perfect adjust in all moment.

To try to build an algorithm that works with this system that I have wrote, I would need to know deeply for example, how many coins could be created, I would need to know more about inflation in this, I hope you find a bit interesting all what I have wrote to us.

I would love help as much as I can. And I want to learn to develop coins too. Then I hope you say to me more information. Or if you liked or not.

Best regards,

[Crestington]

In my personal opinion I think which is a bit boring is wait, wait for anything, for example If to win 40000 CV2
I must wait a minimum of seven days=5040blocks and also I must have the wallet open always, this last is very important by computers limits by ram and microproccesor.
The result is simply a coin boring.
It would be much better if, now that I understand the coin-control system a bit,
we could put the following instructions at code,
for example,
-----------
Block Reward System: 25000 CV2 + fee or a part of fees, these caracteristics could be changed also at runtime.
Block Time and Minimum Mining Confirmation: 120 seconds and 720, they could be dynamicly modified at runtime, by any kind of algorithm, more ahead more detail about thess points.
I would modify the coin-control system as the following, (Coin-Control feature is an excellent representation an more of how the CV2 coin works, but we could already make better if
we can, and the union is all the power),
The coin control could be modified as the following caracteristics,
The payment of the reward by block found is joined only with symilar kind of reward, then we only needed wait for staking by the payments by block reward, not for a conventional payment. Then we would staking always not only for a moment and wait and so. Then we would get a coin funny a lot!, people wants to be funny a lot, not boring.
The period of time to enable the payments reward to sum to the total staking amount, could be variable also with the mathematical algorithm without determine yet.

As you can observe we are letting many variables at runtime to let a perfect adjust in all moment.

To try to build an algorithm that works with this system that I have wrote, I would need to know deeply for example, how many coins could be created, I would need to know more about inflation in this, I hope you find a bit interesting all what I have wrote to us.

I would love help as much as I can. And I want to learn to develop coins too. Then I hope you say to me more information. Or if you liked or not.

Best regards,

I am not quite understanding what you mean with this, I am open to doing some new things but I think your idea needs to be refined


The reward would be 4000 per Block plus Fees X 1.1 which would equal approximately a 6% increase in money supply a year but the money supply may grow at an extra 1% depending on the amount of Transactions.

This would give a steady amount of approximately 1 Billion New Coins created every year with higher amounts during times of high activity.

Lets do something a big different here

The idea behind this is that when holding and Staking you will always receive a better reward. These are some of the reasons behind the ideas..

If you have too high inflation (more than 10%) then the reward is too great and everyone sells.

If you have a very low amount of inflation (less than 1%) then no one Stakes and there is no Volume on exchanges.

The minimum time to Stake being 1 week is just fine because then all the people selling or trading Coins before that time would destroy their Coinage and receive no reward, and pay a decent amount in Fees to holders (depending on the amount of Blocks in transaction).

A set maximum of 28 days is there to curb the amount of small Blocks that would Stake. By my estimates the minimum amount that would be needed to Stake would be around 25,000- 50,000 Coins.

[tZKtdvt6]

Hello,

I am only a begginer in this wonderful world of digital economy, as you must to know, but,...
when you say to me:
"If you have too high inflation (more than 10%) then the reward is too great and everyone sells."
Is it said as a negative result or what?
I ask you this because people in general wants be happy trading digital enormous quantities of coins in the markets,...
then,...what is the big problem?
I don't see any by anywhere, If we could modify the algorithm to get enormous quantities by staking and we could launch
to the markets the CV2 coin it would be very funny to all people, staking people, trading people, beginers people,...all people would be interested by your coin.
Until I know BTC has eight decimals actually in the main markets, hasn't it? If we could create or modify the algorithm to have enormous quantities of coins and we got launch
the CV2 coin into some markets trading with BTC. We would stimulate a big great market. It woul be very funny and incredibly useful for the economy.

I simply have given some generals ideas from my point of view. But you must be sure that the only thing that I wish is A BIG IMPORTANT DIGITAL COIN.

I don't have very sure as it is possible that digital coins, in general, can a good day be launched inside a platform of trading. Real Money vs digital coins, but it is something
that also want to know if it is possible. Because, if someone who knows this method get launch in the for example BTC/CV2 pair inside of some platform of trading, and he got
that the reward payments system of the coin will remunerate to the stakers high quantities of coins, for example numbers of 5 (five) ciphers or six, it would be unique.

I hope that you understand what I am trying to explain. Else ask to me. I will be lovely to answer your possible doubs.

Let's build history.

Thank you very much.

[Bitcoinlover123]

Im onboard

[tZKtdvt6]

Im onboard

Welcome Bitcoinlover123!

[Crestington]

Hello,

I am only a begginer in this wonderful world of digital economy, as you must to know, but,...
when you say to me:
"If you have too high inflation (more than 10%) then the reward is too great and everyone sells."
Is it said as a negative result or what?
I ask you this because people in general wants be happy trading digital enormous quantities of coins in the markets,...
then,...what is the big problem?
I don't see any by anywhere, If we could modify the algorithm to get enormous quantities by staking and we could launch
to the markets the CV2 coin it would be very funny to all people, staking people, trading people, beginers people,...all people would be interested by your coin.
Until I know BTC has eight decimals actually in the main markets, hasn't it? If we could create or modify the algorithm to have enormous quantities of coins and we got launch
the CV2 coin into some markets trading with BTC. We would stimulate a big great market. It woul be very funny and incredibly useful for the economy.

I simply have given some generals ideas from my point of view. But you must be sure that the only thing that I wish is A BIG IMPORTANT DIGITAL COIN.

I don't have very sure as it is possible that digital coins, in general, can a good day be launched inside a platform of trading. Real Money vs digital coins, but it is something
that also want to know if it is possible. Because, if someone who knows this method get launch in the for example BTC/CV2 pair inside of some platform of trading, and he got
that the reward payments system of the coin will remunerate to the stakers high quantities of coins, for example numbers of 5 (five) ciphers or six, it would be unique.

I hope that you understand what I am trying to explain. Else ask to me. I will be lovely to answer your possible doubs.

Let's build history.

Thank you very much.

I have updated the Sourcecode with my changes I have outlined. I do not feel that it is good to have such high rewards because then too much selling causes the price to fall quickly. If there were 25% more Coins but the price only fell 10%, you would have still more profit than you begin with but then no one wants to buy a Coin that is continually falling in price.

The reward at 4000 Coins a block and 1.1 times fees at most would see a 10% increase in the total amount of Coins depending on how many transactions there are. Not everyone would Stake their Coins though, typically you might see about 50-60% of Coins active in Staking on any given network so the reward would then depend on how active you are in Staking and may end up with 20% over the year where as the moneysupply only grows at 8-10%

I think it would be very similar to POSV of ReddCoin.