[ANN] BitBean | Innovative PoS | Scalability | No IPO | No premine

[kcanup]

I sent request for coinmarketcap, fill out the form and submitted.. so they know this coin exists. Since we dont have official websites and other stuffs yet i just provided them with this announcement thread and block explorer link, hopefully they ll have a look and add it asap 

You guys who are in twitter and other social media should tweet more about this coin and let other exchanges know how trex is printing money on cool beans

[Fielding]

USD Market Cap.   $36037.03 USD
BTC Market Cap.   151.61625 BTC

Lots of room for x3 times profit from where we are right now 

+1

$100k for sure, maybe if real lucky $200k, more will be unlikely or impossible.

this coin is better than dogecoin?

Pretty sure it won't Maybe better technical but never in price.

yes.. technically..this coin is better than many altcoins.

[rustynailer]

Cutting edge tech at ground floor prices, it seems like a no brainer to me and it wont hurt to get a few at this price.

[Fielding]

If you want to know more about that big blocksize 20M proposal by Gavin Anderson,

Check these posts:



1 http://www.gavintech.blogspot.hk/2015/01/looking-before-scaling-up-leap.html

Code:

I just had to figure out how to repackage them into bigger blocks. After a couple of false starts over a couple of frustrating days (wouldn't it be nice if our ideas always worked perfectly the first time?), I came up with the following scheme:

First, I hacked the reference implementation and changed some constants related to the block size (MAX_BLOCK_SIZE, DEFAULT_BLOCK_MAX_SIZE, MAX_BLOCKFILE_SIZE). That part is easy.

The tricky bit is how to take transactions from the 1-MB and repackage them in bigger blocks. For most transactions, it is trivial, because ordinary transactions don't care what block they are in.

There are two exceptions:

1. Transactions that use the 'locktime' feature so they are not valid until a particular block height or date. I dealt with these by simply treating all transactions as 'final'.

2. There are special rules for 'coinbase' transactions: there can be only one coinbase transaction per block, it must be the first transaction, etc. My first couple of false starts went down the path of relaxing those rules, but I gave up that approach because I found myself changing more and more code. I think if I was 22 years old I probably would have just forged ahead, unwilling to let go of a couple of days of programming effort because "just one more change and it will probably all start to work..."

I wonder if old programmers throw away more code than young programmers. I bet we do.

Anyway, after a rethink I came up with a much cleaner solution for handling coinbase transactions from the real blockchain: I write them to a 'coinbasetx.dat' file which the hacked bitcoind reads at startup and stores in memory (there are only 73 megabytes of them). As blocks are added to the big-block chain, those coinbases are added to the "unspent transaction output set" so they are available to be spent (and I set the COINBASE_MATURITY constant to zero instead of 100, so they can be spent right away, in the same big block).

I wrote a tool ("gen_megablocks") that creates the coinbasetx.dat file and blk*.dat files that are valid-but-oversized, -regtest-mode blocks.

2 https://blog.bitcoinfoundation.org/a-scalability-roadmap/

My rough proposal for optimizing new block announcements resulted in lots of discussion about lots of scaling-up issues. There was some misunderstanding that optimizing new block messages would be a silver bullet that would solve all of the challenges Bitcoin will face as usage grows; this blog post is meant to sketch out one possible path for the behind-the-scenes technical work that is being done (or will need to get done) over the next few years to scale up Bitcoin.

3 http://gavintech.blogspot.de/2015/01/twenty-megabytes-testing-results.html

But then we need a concrete proposal for exactly how to increase the size. Here's what I will propose:

Current rules if no consensus as measured by block.nVersion supermajority.
Supermajority defined as: 800 of last 1000 blocks have block.nVersion == 4
Once supermajority attained, block.nVersion < 4 blocks rejected.
After consensus reached: replace MAX_BLOCK_SIZE with a size calculated based on starting at 2^24 bytes (~16.7MB) as of 1 Jan 2015 (block 336,861) and doubling every 6*24*365*2 blocks -- about 40% year-on-year growth. Stopping after 10 doublings.
The perfect exponential function:
size = 2^24 * 2^((blocknumber-336,861)/(6*24*365*2))
... is approximated using 64-bit-integer math as follows:



double_epoch = 6*24*365*2 = 105120
(doublings, remainder) = divmod(blocknumber-336861, double_epoch)
if doublings >= 10 : (doublings, remainder) = (10, 0)
interpolate = floor ((2^24 << doublings) * remainder / double_epoch)
max_block_size = (2^24 << doublings) + interpolate
This is a piecewise linear interpolation between doublings, with maximum allowed size increasing a little bit every block.


4 bitbean source code main.h

https://github.com/nokat/bitbean/blob/master/src/main.h

from line 34

Code:

static const unsigned int MAX_BLOCK_SIZE = 20000000;
static const unsigned int MAX_BLOCK_SIZE_GEN = MAX_BLOCK_SIZE/2;
static const unsigned int MAX_BLOCK_SIGOPS = MAX_BLOCK_SIZE/50;
static const unsigned int MAX_ORPHAN_TRANSACTIONS = MAX_BLOCK_SIZE/100;
static const unsigned int MAX_INV_SZ = 50000;
static const int64_t MIN_TX_FEE = 1000000;
.....

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

[CryptoRaver]

I see some bitcoins moving up

[nokat]

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

Honestly it was a very easy change. No need to make a big deal out of it.

[DeCrypterManiac]

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

Honestly it was a very easy change. No need to make a big deal out of it.

Can you explain what you have changed ?

I remember some other coins having bigger blocksize too.. just cannot remember what I need to look for...

[nokat]

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

Honestly it was a very easy change. No need to make a big deal out of it.

Can you explain what you have changed ?

I remember some other coins having bigger blocksize too.. just cannot remember what I need to look for...

I have made changes other than the max block size which i think are more important like the different proof of stake which encourages people to process transactions instead of only processing a block to get percent interest
The max block size change is just to allow more transactions per second so the network can support mass adoption.

[topcat363]

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

Honestly it was a very easy change. No need to make a big deal out of it.

Can you explain what you have changed ?

I remember some other coins having bigger blocksize too.. just cannot remember what I need to look for...

I have made changes other than the max block size which i think are more important like the different proof of stake which encourages people to process transactions instead of only processing a block to get percent interest
The max block size change is just to allow more transactions per second so the network can support mass adoption.

[CryptoRaver]

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

Honestly it was a very easy change. No need to make a big deal out of it.

Can you explain what you have changed ?

I remember some other coins having bigger blocksize too.. just cannot remember what I need to look for...

I have made changes other than the max block size which i think are more important like the different proof of stake which encourages people to process transactions instead of only processing a block to get percent interest
The max block size change is just to allow more transactions per second so the network can support mass adoption.

Step one is a very good start well done
The plans are mass adoption thad sounds also great!
What can we expect nair future from this coin?

[nokat]

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

Honestly it was a very easy change. No need to make a big deal out of it.

Can you explain what you have changed ?

I remember some other coins having bigger blocksize too.. just cannot remember what I need to look for...

I have made changes other than the max block size which i think are more important like the different proof of stake which encourages people to process transactions instead of only processing a block to get percent interest
The max block size change is just to allow more transactions per second so the network can support mass adoption.

Step one is a very good start well done
The plans are mass adoption thad sounds also great!
What can we expect nair future from this coin?

To make Bitbean better

[antonio8]

So do we have to do something different to make the coins stake? Move coins around or let them sit?

Want to make sure I understand.

[powersup]

So do we have to do something different to make the coins stake? Move coins around or let them sit?

Want to make sure I understand.

Nothing different to other POS really.  Just have coins in wallet for at least 6 hours and have wallet open.

[kcanup]

So do we have to do something different to make the coins stake? Move coins around or let them sit?

Want to make sure I understand.

Just hold your coins in the wallet and dont encrypt, thats all 

[powersup]

dev has done a lot of work to complete that big 20MB blocksize..

that's so amazing.

Honestly it was a very easy change. No need to make a big deal out of it.

Can you explain what you have changed ?

I remember some other coins having bigger blocksize too.. just cannot remember what I need to look for...

I have made changes other than the max block size which i think are more important like the different proof of stake which encourages people to process transactions instead of only processing a block to get percent interest
The max block size change is just to allow more transactions per second so the network can support mass adoption.

I love that your seeking mass adoption.  Part of adoption is getting the word out and of course acceptance.  What plan do you have for this (website, twitter, facebook etc..)

[nokat]

So do we have to do something different to make the coins stake? Move coins around or let them sit?

Want to make sure I understand.

Just hold your coins in the wallet and dont encrypt, thats all 

You can encrypt it and unlock it in the options "for staking only" which doesn’t let people send coins from your computer without your password but lets you stake.

[Mig-23]

how many total coin ?

[nokat]

how many total coin ?

Current outstanding coins: 606,647,000 BITB
Increases by 1000 coins each block
The the target block time is 1 minute

[halibit]

Here is some useful links for BITB market.
Welcome.

Market link:
https://alcurex.org/index.php/crypto/market?pair=BITB_BTC

Last BITB/BTC price on alcurEX with api:
https://alcurex.org/api/market.php?pair=bitb_btc&last=last

Last 24h BITB volume on alcurEX exchange:
https://alcurex.org/api/market.php?currency=BITB&interval=24

BITB Trading history:
https://alcurex.org/api/market.php?pair=BITB_BTC&history=on&limit=10000

[tm2013]

how many total coin ?

Current outstanding coins: 606,647,000 BITB
Increases by 1000 coins each block
The the target block time is 1 minute

Is this a constant rate of generation or will it eventually half like conventional PoW block rewards?