◈◈Bitcredit ◈◈ Migrating to UniQredit◈◈

[thelonecrouton]

Offered for consideration and suggestions:


It's not functionally hooked up yet but that shouldn't be too hard, the bid amounts I can get straight out of the bidtracker directory files, the addresses will be hotlinks to the appropriate block explorers, the 'Bid with' buttons will open up bitcoin-qt etc. (with payment address set) if present. The Import button will need me to figure out some stuff, but hey it would be no fun if it was easy.

Layout needs a bit more fine tuning, but is there anything I've missed that should be there, or anything there that doesn't need to be?

[bitcreditscc]

Offered for consideration and suggestions:


It's not functionally hooked up yet but that shouldn't be too hard, the bid amounts I can get straight out of the bidtracker directory files, the addresses will be hotlinks to the appropriate block explorers, the 'Bid with' buttons will open up bitcoin-qt etc. if present. The Import button will need me to figure out some stuff, but hey it would be no fun if it was easy.

That's a great start, you are already on the right track. Quick update though....we are going to be updating bids based on time now, i have decided to make it a running thread. Bids will be updated every 15 minutes, the payout remains unchanged @ 900 blocks for now.

More refinements to come.

[proletariat]

I'd like to send a btc bid.. just need confirmation.................. green light? go go go?

[thelonecrouton]

ok, so we have two oprions, let the chain continue as is and issue an update that fixes things in a day or two or else halt the chain hard fork @ 202499 and proceed.

I'm all for the first option i';d like to start maintaining a policy of updates on the run, instead of halting. The update is going to do the following

1) Place checks against blocks to ensure that BN payments and Payouts are made
2) Activate IX
3) Ensure BN only mining (you can use a pool BN to mine if the owner is willing to share his key with you)
4) (Maybe) institute block # limits on BNs (this will result in 3 being invalidated and make the chain solo mining only

Anything that avoids BN owners stuffing their BN boxes with $500 GPUs.

[proletariat]

By my crude estimation, if the 6 million reserve BCR remain unburned and unbacked - worst case scenario IMO - and if BCR is on average bid for at only half the current market price, if the backing thus acquired only lends 20% of its actual value to the market price, it will take appx. 1 year for the Assured Minimum Value of BCR to match the market price it started at. After this, the AMV starts to exceed the starting market price rather rapidly. Holds true whatever the initial starting price is.

eg, taking the current Bittrex bid price:
http://s8.postimg.org/3lmvbjkj9/bcr67.png

This is all pure conjecture, I'm just working from some simple initial conditions and extrapolating, and I'm using BTC as a yardstick because most people here have a feel for what BTC is 'worth' - I think we should be ditching most of the cryptofiat backing for something solid ASAP. Now more than ever world markets are volatile, the relative prices of anything could go any which way at short notice so even when some actual data is available to model from, long term price predictions are always going to be about as accurate as long term weather forecasts. Possibly slightly more  accurate than 'Technical Analysis' chart voodoo though, which to me seems like driving your car forwards while staring only into the rear view mirror and believing that the past is telling you what's in the road ahead.

One thing is certain though, for backing to happen we're going to have to attract buyers.

I'm doubtful we'll convince many miners to just buy BCR instead of wasting electricity to acquire it. Miners are mostly just geeks hoping to get free shit. I suspect few miners are interested in actual investment rather than raw speculation or instadumping via BTC into fiat to buy more of whatever it is that they smoke that convinces them that what they're doing is a sensible use of their time and energy.

Back to the attracting buyers bit... as bitcreditscc said a little while ago we're going to need outreach. I've done sales work and I hated it too, but we can learn from what other cryptocurrencies have done and avoid their mistakes. Sadly I don't think there are many successes to emulate, unless one counts the likes of the Ethereum, fools and their money etc.

Top of my personal list of things to avoid is spending much - or any - money or effort within the crypto scene, it's filthy with dogma and broken thinking, and most of 'em are completely broke from all that pre-obsolete mining hardware, the electricity bills, and playing suicidal daytrader against whales and bots on the obviously crooked (all of them) exchanges.

It's difficult to know where to direct efforts though without an idea of what the community sees as the longer term purpose of BCR. Before the bidding/backing thing got underway I think there was plenty of scope in the original vision of a p2p banking and financial services platform. When the backing system is fully running I hope bitcreditscc continues to develop that aspect of things, it's a big market.

There are just so many ways that BCR could flourish, I'd be interested to hear what others see ahead, or would like to see in BCR - not short term technical stuff like wallets crashing on platform X, that stuff will get ironed out, but the bigger picture.

Just ruminating here, and thought I'd post some more asset backing porn as the BCR price seems to have risen somewhat since I last did so.  

If this post has left any cryptognats unoffended, please tell me so I can include you in my sweeping and unflattering characterisations next time, I wouldn't want anyone to feel left out. 

I don't think you can skip the crypto crowd as target # one, the idealists or long term holders or smart thinkers or whatever is best suited for the bcr vision will stick but since this is crypto's ground zero, your only option is to filter us out and use community power then to help spread the word - in parallel with outside efforts by bitcreditscc or you or anyone else of course. Miners and everyone else here is into making money, big farms will stick with the three top algos creating waves of shitcoins to support themselves but smaller miners could easily see the BCR opportunity, the model is very close to being passive income and that is hard to pass. People will trade it but they will have to adjust their ways since it will now have true asset backing with decentralized control of it, for good or bad, a democracy as I understand it.

[bitcreditscc]

ok, so we have two oprions, let the chain continue as is and issue an update that fixes things in a day or two or else halt the chain hard fork @ 202499 and proceed.

I'm all for the first option i';d like to start maintaining a policy of updates on the run, instead of halting. The update is going to do the following

1) Place checks against blocks to ensure that BN payments and Payouts are made
2) Activate IX
3) Ensure BN only mining (you can use a pool BN to mine if the owner is willing to share his key with you)
4) (Maybe) institute block # limits on BNs (this will result in 3 being invalidated and make the chain solo mining only

Anything that avoids BN owners stuffing their BN boxes with $500 GPUs.

All good

I just did a little dance after watching my current build perform like a charm!! finally nailed a issue that was bothering me.

[bitcreditscc]

I don't think you can skip the crypto crowd as target # one, the idealists or long term holders or smart thinkers or whatever is best suited for the bcr vision will stick but since this is crypto's ground zero, your only option is to filter us out and use community power then to help spread the word - in parallel with outside efforts by bitcreditscc or you or anyone else of course. Miners and everyone else here is into making money, big farms will stick with the three top algos creating waves of shitcoins to support themselves but smaller miners could easily see the BCR opportunity, the model is very close to being passive income and that is hard to pass. People will trade it but they will have to adjust their ways since it will now have true asset backing with decentralized control of it, for good or bad, a democracy as I understand it.

I think what we are both trying to say is that the forum has toxic elements who could be detrimental to progress. Also these people rarely look at the long term and as a result cannot be relied on as a building platform, diplomatically one could say that the cryptosphere is too small.

Meanwhile, i intend to push democracy very, very high on the to-do list. Apart from mining and bids as a vote, i am testing a full voting system that also includes a ratings system for average users and BNs to use to rate each other.  :- https://github.com/bitcreditscc/bicreditsnew/commit/b15e9fbe7aafb3c33bb927fae9c2db8953fb15fb

For example you use three BNs , each providing you the same service, you can indicate your favorite by giving it a rating (between zero and five stars) , these results will be tallied every hour or so and visible in the GUI, so other users and noobs can just look up the list and find a reliable service as well as know who to avoid.

BNs will have the added advantage of being able to blacklist addresses, ie if they find a scammer, they can blacklist that address. if a key is blacklisted by 5 different BNs , it is officialy blacklisted.

Being blacklisted does not mean you cant use your address, rather you just get added to a list and every time someone is trying to send coins to you, they will get a warning about your trust rating.

[bitcreditscc]

I'd like to send a btc bid.. just need confirmation.................. green light? go go go?

you can go ahead the coins will be sent, you'll have to wait for the update to redeem

[bitcreditscc]

someone out there definitely wants to mine as many BCR as possible before we go solo

[dragos_bdi]

I think what we are both trying to say is that the forum has toxic elements who could be detrimental to progress. Also these people rarely look at the long term and as a result cannot be relied on as a building platform, diplomatically one could say that the cryptosphere is too small.

.....

http://bitcredits.pw/index.php ?

Could you write a small howto for bidding system ?

[dextronomous]

so someone gaining in on the blocks that are invalid, and another issue at the bcr explorer chainz still at the other versions last block. 203009 this one now current block.

and the wrong block 206553 is still visible in one of my wallets. so someone gaining in on the wrong fork. how the mining will go on from now on. is it only gonna be setgenerate cpu mining or gpu also. is it with the default pools you guys created or are there other pools that gonna have Bitcredit. But wallet say to downloading blocks not finished..

getchaintips?

height" : 206553,
"hash" : "00043fa2e7f328bd6f21d0bae42bea62e9f3f943d514024c9c81bfeba807610d",
"branchlen" : 6554,
"status" : "headers-only"


{height" : 203008,
"hash" : "000039b6b7bb154e34c1a8d75a321497f5e652219bfc730060f014730fb9fc10",
"branchlen" : 0,
"status" : "active"

Also on how to be a bn and or mn or some other kind of .n , is there a guide on prices or list of the prices, and how to? due to bidding, coins value will increase drastically.

Will these coins have in wallet direct transfer to other blockchains? like sell buy bcr with btc inside Bcr wallet or something like that? is there any news on how the bidding will go on. with some info on a website or someting,. thanks again bit..

[bitcreditscc]

so someone gaining in on the blocks that are invalid, and another issue at the bcr explorer chainz still at the other versions last block. 203009 this one now current block.

and the wrong block 206553 is still visible in one of my wallets. so someone gaining in on the wrong fork. how the mining will go on from now on. is it only gonna be setgenerate cpu mining or gpu also. is it with the default pools you guys created or are there other pools that gonna have Bitcredit. But wallet say to downloading blocks not finished..

getchaintips?

height" : 206553,
"hash" : "00043fa2e7f328bd6f21d0bae42bea62e9f3f943d514024c9c81bfeba807610d",
"branchlen" : 6554,
"status" : "headers-only"


{height" : 203008,
"hash" : "000039b6b7bb154e34c1a8d75a321497f5e652219bfc730060f014730fb9fc10",
"branchlen" : 0,
"status" : "active"

Also on how to be a bn and or mn or some other kind of .n , is there a guide on prices or list of the prices, and how to? due to bidding, coins value will increase drastically.

Will these coins have in wallet direct transfer to other blockchains? like sell buy bcr with btc inside Bcr wallet or something like that? is there any news on how the bidding will go on. with some info on a website or someting,. thanks again bit..

This illustrates the existence of an automated bot net that is mines when a ceratin price is reached, likely also why the net has so much hash.


All this will be invalid soon though since one will need to have a BN to mine. Even worse to mine consecutive blocks, one will have to have multiple BNs.

[dextronomous]

Hi there bitcreditscc.

Man every time i start the wallet since the guy started mining, even tough i did started setgenerate true at my systems and did work,
now when i do that it fails the wallet crashes. Don't know why. So i guess someone somewhere has the switch to turn it on and off inside our wallets. banknode start works then setgenerate boom fail.


is it now then somehow with a momemtum algo not possible to not have been mining consecutive blocks but just some every now and then and once a while few more then normal. this should be i guess approved.. why not have the cpu power that mines more and make it a fail for getting more coins the way it seems now.cause i wan't to start mining.

could this mining thing be explained, cause the pools are down, how's that mining being done. what ever you're doing you're going great.

[bitcreditscc]

Spent the night studying preferential attachment processes, expect soe new things. Finalized update is almost complete.

For the observant ones.... looks like i finally got rid of that last empty tx (solo mining only)

[dragos_bdi]

Seems like the network stopped @203400 ... witch is a superblock ...

Edit:
2015-09-17 05:11:21 CheckBlock() : skipping transaction locking checks
2015-09-17 05:11:21 CheckBlock() : Using non-specific banknode payments 203401
2015-09-17 05:11:21 CheckBlock() : Found banknode payment 203401
2015-09-17 05:11:21 ERROR: ConnectBlock() : no banknode payment ( required=1034999996)

[tombcoin]

Apart from the blockchain...

Actual repository give an error while compiling on ubuntu server 14.04.x

In file included from wallet.h:19:0,
                 from activebanknode.h:16,
                 from darksend.h:11,
                 from spork.h:17,
                 from spork.cpp:5:
walletdb.h:27:7: error: forward declaration of âclass CWalletTxâ
 class CWalletTx;
       ^
make[2]: *** [libbitcredit_util_a-spork.o] Error 1

This is not usable

lg t.

[cisahasa]

please answer my question about populating network with those faulty masternodes..
this can lead for free masternode money..
or will i test it my self?
that does not need big computing power since part of code needed is released lately..

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

we could do bigger population by easy script.

I did not say masternodes, they were simply nodes and the issue resolved itself when the nodes were banned.

right now i cant even see if they are still online or not as they are incompatible

take a deep look at masternode rules.. there may be a loop hole..

did you find the hole==?

[dbt1033]

How much longer do we have to mine?  I have this beast showing up tomorrow and will dedicate it to BCR until it's no longer possible.

Case:  Rosewill THOR V2 ATX Full Tower Computer Case
Motherboard: MSI 990FXA-GAMING AM3+/ AM3 AMD 990FX & SB950 6 x SATA 6Gb/s 2 x USB 3.1 ATX AMD Motherboard
CPU:  AMD FX-9590 Vishera 8-Core 4.7 GHz Socket AM3+ 220W FD9590FHHKWOF Desktop Processor - Black Edition
PSU:  SeaSonic X-1050 ( SS-1050XM2 ) 1050W ATX12V / EPS12V SLI Certified CrossFire Ready 80 PLUS GOLD Certified
RAM:  G.SKILL TridentX Series 16GB (2 x 8GB) 240-Pin DDR3 SDRAM DDR3 2400 (PC3 19200)
GPU:  2x SAPPHIRE NITRO Radeon R9 380 100384NT4GOCL 4GB 256-Bit GDDR5 PCI Express 3.0 ATX Dual-X OC Version
HDD:  SAMSUNG 850 PRO MZ-7KE256BW 2.5" 256GB SATA III 3-D Vertical Internal Solid State Drive, WD Black Series 2 TB 7,200 RPM
CPU Cooler:  CORSAIR Hydro Series H105 Extreme Performance 240mm Liquid CPU Cooler


Interested to see what my hashrate will be with CPU / GPUs

[bitcreditscc]

How much longer do we have to mine?  I have this beast showing up tomorrow and will dedicate it to BCR until it's no longer possible.

Case:  Rosewill THOR V2 ATX Full Tower Computer Case
Motherboard: MSI 990FXA-GAMING AM3+/ AM3 AMD 990FX & SB950 6 x SATA 6Gb/s 2 x USB 3.1 ATX AMD Motherboard
CPU:  AMD FX-9590 Vishera 8-Core 4.7 GHz Socket AM3+ 220W FD9590FHHKWOF Desktop Processor - Black Edition
PSU:  SeaSonic X-1050 ( SS-1050XM2 ) 1050W ATX12V / EPS12V SLI Certified CrossFire Ready 80 PLUS GOLD Certified
RAM:  G.SKILL TridentX Series 16GB (2 x 8GB) 240-Pin DDR3 SDRAM DDR3 2400 (PC3 19200)
GPU:  2x SAPPHIRE NITRO Radeon R9 380 100384NT4GOCL 4GB 256-Bit GDDR5 PCI Express 3.0 ATX Dual-X OC Version
HDD:  SAMSUNG 850 PRO MZ-7KE256BW 2.5" 256GB SATA III 3-D Vertical Internal Solid State Drive, WD Black Series 2 TB 7,200 RPM
CPU Cooler:  CORSAIR Hydro Series H105 Extreme Performance 240mm Liquid CPU Cooler


Interested to see what my hashrate will be with CPU / GPUs

on the advice of a fellow more wizened coder, i am studying OP_RETURN and trying to figure out how each BN can use it to

1) Register itself on the chain
2) Sign Blocks

This will take some time and some doing but seems far more cryptographically accurate that just a look up of previous blocks.

The final decision will be made based on

1) Complexity
2) Security
3) Computational cost

For now i'll tentatively say that we are likely to institute the changes in two weeks. For now there is an update incoming (next few hours ) that should finally settle bid payouts.

Because p2pool is not respecting payout blocks , i am working on a new rule that will ensure that they are respected by the network

[dbt1033]

How much longer do we have to mine?  I have this beast showing up tomorrow and will dedicate it to BCR until it's no longer possible.

Case:  Rosewill THOR V2 ATX Full Tower Computer Case
Motherboard: MSI 990FXA-GAMING AM3+/ AM3 AMD 990FX & SB950 6 x SATA 6Gb/s 2 x USB 3.1 ATX AMD Motherboard
CPU:  AMD FX-9590 Vishera 8-Core 4.7 GHz Socket AM3+ 220W FD9590FHHKWOF Desktop Processor - Black Edition
PSU:  SeaSonic X-1050 ( SS-1050XM2 ) 1050W ATX12V / EPS12V SLI Certified CrossFire Ready 80 PLUS GOLD Certified
RAM:  G.SKILL TridentX Series 16GB (2 x 8GB) 240-Pin DDR3 SDRAM DDR3 2400 (PC3 19200)
GPU:  2x SAPPHIRE NITRO Radeon R9 380 100384NT4GOCL 4GB 256-Bit GDDR5 PCI Express 3.0 ATX Dual-X OC Version
HDD:  SAMSUNG 850 PRO MZ-7KE256BW 2.5" 256GB SATA III 3-D Vertical Internal Solid State Drive, WD Black Series 2 TB 7,200 RPM
CPU Cooler:  CORSAIR Hydro Series H105 Extreme Performance 240mm Liquid CPU Cooler


Interested to see what my hashrate will be with CPU / GPUs

on the advice of a fellow more wizened coder, i am studying OP_RETURN and trying to figure out how each BN can use it to

1) Register itself on the chain
2) Sign Blocks

This will take some time and some doing but seems far more cryptographically accurate that just a look up of previous blocks.

The final decision will be made based on

1) Complexity
2) Security
3) Computational cost

For now i'll tentatively say that we are likely to institute the changes in two weeks. For now there is an update incoming (next few hours ) that should finally settle bid payouts.

Because p2pool is not respecting payout blocks , i am working on a new rule that will ensure that they are respected by the network

Keep it up; I'm rooting for you man