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[thelonecrouton]

I had not seen the updated ann with the bidding explained. It says the proceeds of this auction is sent to a multisig address and the effect is immediately felt on the bcr ecosystem. Can you explain how that affects the BCR ecosystem? how are these "bid funds" used?  

Instead of distribution only to miners, who spend lots of money on mining hardware and electricity bills, BCR is distributed directly to anyone who bids for it. The money that miners would have spent lining the pockets of hardware and utility companies goes directly to backing BCR instead.

Initially it's BTC/LTC/DASH that will be held as assets, jointly owned by everyone with BCR, and administered when needed by a quorum (currently it's a 3-of-5 multisig setup) of BN owners. There will follow bidding via fiat currency gateways too.

Personally I'd like to see most of the BTC/LTC/DASH/fiat converted to PMs - ASAP, because I frankly see no future for any fiat or cryptofiat currency backed by nothing but speculation and hot air - and held secure by companies that specialise in that, with, again, those reserves being accessible only via a quorum of BN owners.

BCR will have it's own voting system too, so all holders will have a say, probably proportional to their BCR balance.

[thelonecrouton]

Over half of this BCRs went to one of my Banknode wallets and yesterday I already mentioned it to one of our members but didn't get any explanation. So far I didn't bid anything so how it works ? And what's with "nulldata" address ?

Yeah, there are some kinks still to be worked out.  The dev and team are on the case.

[proletariat]

I had not seen the updated ann with the bidding explained. It says the proceeds of this auction is sent to a multisig address and the effect is immediately felt on the bcr ecosystem. Can you explain how that affects the BCR ecosystem? how are these "bid funds" used?  

Instead of distribution only to miners, who spend lots of money on mining hardware and electricity bills, BCR is distributed directly to anyone who bids for it. The money that miners would have spent lining the pockets of hardware and utility companies goes directly to backing BCR instead.

Initially it's BTC/LTC/DASH that will be held as assets, jointly owned by everyone with BCR, and administered when needed by a quorum (currently it's a 3-of-5 multisig setup) of BN owners. There will follow bidding via fiat currency gateways too.

Personally I'd like to see most of the BTC/LTC/DASH/fiat converted to PMs - ASAP, because I frankly see no future for any fiat or cryptofiat currency backed by nothing but speculation and hot air - and held secure by companies that specialise in that, with, again, those reserves being accessible only via a quorum of BN owners.

BCR will have it's own voting system too, so all holders will have a say, probably proportional to their BCR balance.

Thanks.
What do you mean by PMs?

[bitcreditscc]

for the next two days i will not be saying much, please understand i need tine to finish ironing out the issues. Right now the chain is ok, but someone has been trying their damn best to shut us down. From DDoS to constantly trying to fork the chain. The last two forks were a result of someone slamming the network with a ahit ton of hash, then dropping off... then doing it again.

You can see the evidence it you use "getchaintips"typical brnachlen is supposed to 1, but whoever it is managed to get three of len> 3.

Also if you have noticed, there's over 800 nodes running the old wallet version that just popped up out of nowhere.

Not sure if it's someone who has something against us or if soeone is trying to show me the loopholes in current design, but i will respond, i just need a few more hours of tie to figure out one key issue.

see:- we want to prevent miners from producing consecutive blocks , this will effectively remove non-beneficial competition. Then we also want to restrict mining to BNs only.

This is done by maintaining a blockmap of the last 5 blocks , which at every new block we check out and see if the coinbase scriptpubkey matches any in the map, if it does, then it is invalid as that Bn is not authorized to produce another block yet.


I know it seems very tedious, but it actually is the way forward to building a scalable non-exclusionary  distribution system that will support infrastructure like BAnking and Insurance.  

Can you imagine trying to run that type of network if every miner needed a warehouse of hardware to keep up? How would a new comer get into the system without having to spend millions on hardware?

Would it make sense for a Bn owner of a small company to have to make the same investment as a multi-national corp?

i'm around.....just have my head buried somewhere deep in the code.

[cisahasa]

sorry for your lost.. man who said LOL to me..

[antonio8]

Just tried the new wallet before I went to work.

Deleted everything in appdata but wallet.dat and config file. 11 hours later still no connection from wallet.

Any new addnodes for new wallet?

EDIT: Running on Windows 10 64 bit

[dextronomous]

so howdy guys,

what's cooking! or who is? still wondering when pool will go up, is it when my wallet start syncing> this is already going on for days now.? Cause it is still stuck somewhere in this limbo, what's the latest version that should be out. Front page link could also be updated.

What's the status on mining? GPU, vs Solo or BN? mining in wallet cause of being a bn, how to set this up. Whats going to happen now, cuase i notice some sleeping cells here,

They just wake up when needed most. And afterwards gone again.
Sia coin dev really explaines a lot on how to go@ ! look at his posts.  Are our coins still safe? And our privacy inside our systems, in wich we mine this stuff. 

Could we start mining this evening and sync all of our wallets or what?

[thelonecrouton]

I think there's a big miner out there who keeps mining, either deliberately or ignorantly, on the wrong version/chain, and broadcasting bad data, which is causing problems. The dev is working on moving all mining to BNs only, but this is a(nother) big step and might take some time. 

When it's done though we'll have the most secure and efficient blockchain security system out there, which combined with real asset backing via the bidding system (and BCR's p2p banking functions) will make BCR the first cryptocurrency that's actually a real investment backed with real stuff, not a speculative gamble backed by prayer.

The dev is a hard worker and has plenty of skin in the game, I'm happy to give him time to do his thing. 

[dragos_bdi]

I think there's a big miner out there who keeps mining, either deliberately or ignorantly, on the wrong version/chain, and broadcasting bad data, which is causing problems. The dev is working on moving all mining to BNs only, but this is a(nother) big step and might take some time. 

When it's done though we'll have the most secure and efficient blockchain security system out there, which combined with real asset backing via the bidding system (and BCR's p2p banking functions) will make BCR the first cryptocurrency that's actually a real investment backed with real stuff, not a speculative gamble backed by prayer.

The dev is a hard worker and has plenty of skin in the game, I'm happy to give him time to do his thing. 

There's NO big miner out there who keeps mining. Now are 2 forks on 0.30.16.9 version,  stopped. One @200740 and one @201600.

[alganonim]

I think there's a big miner out there who keeps mining, either deliberately or ignorantly, on the wrong version/chain, and broadcasting bad data, which is causing problems. The dev is working on moving all mining to BNs only, but this is a(nother) big step and might take some time.  

When it's done though we'll have the most secure and efficient blockchain security system out there, which combined with real asset backing via the bidding system (and BCR's p2p banking functions) will make BCR the first cryptocurrency that's actually a real investment backed with real stuff, not a speculative gamble backed by prayer.

The dev is a hard worker and has plenty of skin in the game, I'm happy to give him time to do his thing.  

There's NO big miner out there who keeps mining. Now are 2 forks on 0.30.16.9 version,  stopped. One @200740 and one @201600.

One of these - 200740 is right one ? Or there's no such as right one now ?

Last time I was checking, 5 BNs  : 188.193.114.167:9995-9998 were on the longer chain, what's the point if the will be no fees for them.

peers:
82.211.1.181:8877    on 201600
91.230.123.101.8877 on 200740

Persueding 188.193.114.167 BNs and 82.211.1.181:8877 peer to use a chain with last block 200740 will not correct a chain (using bootsrap) ?


EDIT:
I had thought that both your nodes were on 200740 chain and forgot that those peers are your, NVM ...

[dragos_bdi]

I think there's a big miner out there who keeps mining, either deliberately or ignorantly, on the wrong version/chain, and broadcasting bad data, which is causing problems. The dev is working on moving all mining to BNs only, but this is a(nother) big step and might take some time.  

When it's done though we'll have the most secure and efficient blockchain security system out there, which combined with real asset backing via the bidding system (and BCR's p2p banking functions) will make BCR the first cryptocurrency that's actually a real investment backed with real stuff, not a speculative gamble backed by prayer.

The dev is a hard worker and has plenty of skin in the game, I'm happy to give him time to do his thing.  

There's NO big miner out there who keeps mining. Now are 2 forks on 0.30.16.9 version,  stopped. One @200740 and one @201600.

One of these - 200740 is right one ? Or there's no such as right one now ?

Last time I was checking, 5 BNs  : 188.193.114.167:9995-9998 were on the longer chain, what's the point if the will be no fees for them.

peers:
82.211.1.181:8877    on 201600
91.230.123.101.8877 on 200740

Persueding 188.193.114.167 BNs and 82.211.1.181:8877 peer to use a chain with last block 200740 will not correct a chain (using bootsrap) ?

Don't know who will be the "correct" chain. Both peers are mine. I keep both until bitcreditscc decide with witch will go.

[LucD88]

How are exchanges and traders affected by this? Let's hope the traded coins will not go to waste

[proletariat]

How are exchanges and traders affected by this? Let's hope the traded coins will not go to waste

Bittrex wallet is blocked at block 200740 so it should be good as no deposits are being processed.

[thelonecrouton]

While bitcreditscc is hard at work with the difficult stuff, a quick visual reminder of how the bidding system might influence BCR's price in the short term:



If there was a vote on it, I'd vote to burn the 6 million reserve BCR as it makes quite a difference to how well backed the rest of the currency supply is once bidding is properly up and running.

I haven't refined my simplistic model since I first posted about it, today I just had enough time to wrap it in a GUI and add some simple graphing. I'll try and work on the maths a bit more, currently it seems wildly, exponentially and outrageously optimistic out beyond 12 months...  

I know there are some people working on marketing and promo stuff, if anyone else can come up with a good way of getting the message across to miners that throwing money away on electricity is a bad idea when they could be investing in and therefore directly backing a currency instead, please chime in.  

[proletariat]

While bitcreditscc is hard at work with the difficult stuff, a quick visual reminder of how the bidding system might influence BCR's price in the short term:

http://s7.postimg.org/m3dptwsnf/bcr66.gif

If there was a vote on it, I'd vote to burn the 6 million reserve BCR as it makes quite a difference to how well backed the rest of the currency supply is once bidding is properly up and running.

Agreed 100% on the BCR reserve. Also, I'm not entirely comfortable with empo holding the funds, nothing against them though but at least being held in a multisig address would be better.

[bitcreditscc]

well, did some work and should be ready for testing.

Still some items i can't narrow down , hoping it as a result of miners used.

There has always been a weird tx on some blocks that says "null data" careful re^100000000 - writing of the internal miner shows that i did not make a mistake in coinbase tx counts as a result i suspect that it may be as a result of something in p2pool or in some version of a miner.

Actually there is someone with incredible mining power, all you need to do is compare the number of solomined blocks vs the number of pool mined blocks. Being able to compete with the network @ 700h/s is no easy feat. The reason the network ended up stalled, is that bad peers were being kick banned and since we have extra rules that invalidate blocks without BN payments getblocktemplate was failing. 

anyway, i am going to push some changes in a while then we can try it out.

[dragos_bdi]

well, did some work and should be ready for testing.

Still some items i can't narrow down , hoping it as a result of miners used.

There has always been a weird tx on some blocks that says "null data" careful re^100000000 - writing of the internal miner shows that i did not make a mistake in coinbase tx counts as a result i suspect that it may be as a result of something in p2pool or in some version of a miner.

Actually there is someone with incredible mining power, all you need to do is compare the number of solomined blocks vs the number of pool mined blocks. Being able to compete with the network @ 700h/s is no easy feat. The reason the network ended up stalled, is that bad peers were being kick banned and since we have extra rules that invalidate blocks without BN payments getblocktemplate was failing. 

anyway, i am going to push some changes in a while then we can try it out.

Could you indicate what blocks are mined "solo" ? ... I don't see none ...

[antonio8]

well, did some work and should be ready for testing.

Still some items i can't narrow down , hoping it as a result of miners used.

There has always been a weird tx on some blocks that says "null data" careful re^100000000 - writing of the internal miner shows that i did not make a mistake in coinbase tx counts as a result i suspect that it may be as a result of something in p2pool or in some version of a miner.

Actually there is someone with incredible mining power, all you need to do is compare the number of solomined blocks vs the number of pool mined blocks. Being able to compete with the network @ 700h/s is no easy feat. The reason the network ended up stalled, is that bad peers were being kick banned and since we have extra rules that invalidate blocks without BN payments getblocktemplate was failing. 

anyway, i am going to push some changes in a while then we can try it out.

My last question was never addressed.

Do you know why on Windows 10 the new wallet 0.30.16.9rc will not connect to the network? I did not change anything at all from last version in the appdata folder.

These wallet issues should be the number one priority. Just my personal opinion but with as many issues as we have with wallets I don't think this will ever gain the traction you are looking for especially if you are going the route of taking the miners out of the loop and leaving it as a POS only coin. I know that is not what it is called but it will be the same concept with no mining.  Also don't think many investors will jump on with the issues of the wallet.

[dragos_bdi]

well, did some work and should be ready for testing.

Still some items i can't narrow down , hoping it as a result of miners used.

There has always been a weird tx on some blocks that says "null data" careful re^100000000 - writing of the internal miner shows that i did not make a mistake in coinbase tx counts as a result i suspect that it may be as a result of something in p2pool or in some version of a miner.

Actually there is someone with incredible mining power, all you need to do is compare the number of solomined blocks vs the number of pool mined blocks. Being able to compete with the network @ 700h/s is no easy feat. The reason the network ended up stalled, is that bad peers were being kick banned and since we have extra rules that invalidate blocks without BN payments getblocktemplate was failing. 

anyway, i am going to push some changes in a while then we can try it out.

My last question was never addressed.

Do you know why on Windows 10 the new wallet 0.30.16.9rc will not connect to the network? I did not change anything at all from last version in the appdata folder.

These wallet issues should be the number one priority. Just my personal opinion but with as many issues as we have with wallets I don't think this will ever gain the traction you are looking for especially if you are going the route of taking the miners out of the loop and leaving it as a POS only coin. I know that is not what it is called but it will be the same concept with no mining.  Also don't think many investors will jump on with the issues of the wallet.

This is not a priority !!!

The priority is to start the blockchain .... 
Even if you will download the blockchain, you do not do nothing.

Tip: Bootstrap from someone a blockchain. But, hell ... witch is the correct one ?!? 

So, wait until we start again the whole thing .. and after we see.

[thelonecrouton]

My last question was never addressed.

Do you know why on Windows 10 the new wallet 0.30.16.9rc will not connect to the network? I did not change anything at all from last version in the appdata folder.

These wallet issues should be the number one priority. Just my personal opinion but with as many issues as we have with wallets I don't think this will ever gain the traction you are looking for...

Linux builds had the same problem, probably due to the issues bitcreditscc mentioned in the post of his that you quoted.

...especially if you are going the route of taking the miners out of the loop and leaving it as a POS only coin. I know that is not what it is called but it will be the same concept with no mining.  Also don't think many investors will jump on with the issues of the wallet.

I would be ecstatic if bitcreditscc ditched PoW altogether; maybe PoW has it's uses, but trying to apply it to what's hoped will be a widely adopted system is flat out stupid. BTC, DASH, every other PoW system will fail, PoW is absolutely the wrong tool for the job.

Seriously, try explaining to anyone outside of the cryptio scene how wasting megawatts of power daily to process 7 (or 700, whatever) transactions per second is a good idea... you will get laughed at, and rightly so. And that's before you mention that pooled mining completely circumvents the whole supposed point anyway.

When co-operative mining is working, we'll at least minimise the waste and hopefully avoid a lot of the issues that have been affecting users. Competitive PoW is one of the reasons why BTC has achieved so little, and is now indistinguishable from any other Ponzi scheme.

BCR is aiming to be better than this.