[UNOFFICIAL] [VNL] Vanillacoin 0.4.1 | Instant ▱ Incentivized ▱ Innovative

[groggin]

 so do i understand it right? a 5% tax on miners is re-distributed to nodes with the best throughput/connectivity?

   just wait until the Sheriff of Nottingham hears about this!    

[1714674284]

1714674284

[traumschiff]

so do i understand it right? a 5% tax on miners is re-distributed to nodes with the best throughput/connectivity?

   just wait until the Sheriff of Nottingham hears about this!    

Yeah, to nodes that are randomly chosen from all of those which have the best up time/connectivity/success rate (you have to meet a score if I'm not mistaken). 5% - if that will be the case - isn't much since the average reward drops which occur every 50k blocks are ~16.66% reductions.

Also using this method won't skew the emission.

[groggin]

so do i understand it right? a 5% tax on miners is re-distributed to nodes with the best throughput/connectivity?

   just wait until the Sheriff of Nottingham hears about this!    

Yeah, to nodes that are randomly chosen from all of those which have the best up time/connectivity/success rate (you have to meet a score if I'm not mistaken). 5% - if that will be the case - isn't much since the average reward drops which occur every 50k blocks are ~16.66% reductions.

Also using this method won't skew the emission.

 dev has stood up for the little guy/average joe since day 1. i think it's gr8 to see   

[h1gh1s6]

I agree and all those old FPGA farms from early bitcoin days are making a killing

What we need is something that everyone can get easily instead of some limited item geared towards early FPGA bitcoin farms

I don't believe there are as many of these out there as we all thought there would be. I think many have been discarded or are no longer operational. The network hashrate has barely changed since FPGA code came out and you can't find used ones anywhere. I believe most people are still using GPU.

[doremi]

@traumschiff  


https://bitcointalk.org/index.php?topic=1161418.0

We seem to already have a chinese BTT ANN: https://bitcointalk.org/index.php?topic=1112414.0

seriously?you prefer the wrong one?

If you keep updating your version I'll switch the links. Seems the other one is not updated.

aye.aye sir

Done, thank you

by tthe way,you should also get rid of these

Chinese Vanillacoin forum: http://vanillacoin.com.cn/ ----> wrong coin's name

BTC8 ANN: http://8btc.com/forum.php?mod=viewthread&tid=20640&page=1&extra=#pid175889    -----> suspicious link

Yeah, seems like 8BTC.com gives an error.

I will keep vanillacoin.com.cn though as it has some level of activity and it's made by acoin who is also active on IRC.

Thank you for pointing these out, tipped some

you have to persuade them to correct the name or it will confusing the new comers of China.

Please paste here the optimal term you would use and shortly explain why that the better one is if you can.

Vanilla-coin: 香草-幣(traditional chinese)/帀(simplified chinese)
vanilla is just a very basic word that so easy to translate,none of the ppl on the earth that could read/write/speak both English and Chinese will translate vanilla to 韦恩(Wayne).
if you don`t beleive what i said,just write vanilla down on a paper and ask a random person who can read both languages in your real life,that is the fastest way to know which is right or wrong.

Thank you very much, and can I ask about the opinion of the chinese miners/investors? There seems to be a VNL QQ group with 100+ people there. Are you hanging out there? What is their stance on this?

no,i don`t and i never use qq
the most important thing is dev team has responbility to correct them if they are wrong,i don`t know what agenda behind them for they obviously know that they were wrong but refuse to switch to the right one ,it is likely that potential scam would happen if someone creat an altcoin that name Waynecoin and fooling the ppl  that couldn`t read English in China around...just saying.

quote:

"Tolerating evil leads only to more evil. And when good people stand by and do nothing while wickedness reigns, their communities will be consumed."
Bob Riley


Don`t get me wrong vanillagalaxy,glad to see a good man standing here,you!

[STEALTHMODE]

  2morrow?

https://twitter.com/bubblebobble123/status/639874585857536001

[thefix]

I agree and all those old FPGA farms from early bitcoin days are making a killing

What we need is something that everyone can get easily instead of some limited item geared towards early FPGA bitcoin farms

I don't believe there are as many of these out there as we all thought there would be. I think many have been discarded or are no longer operational. The network hashrate has barely changed since FPGA code came out and you can't find used ones anywhere. I believe most people are still using GPU.

I noticed a significant jump in hash rate as soon as FPGAS came into the mix

Users with 50 x more hash power consistently

It was a valiant effort to make things more fair though, so I do applaud the effort.

I agree the hash-rate did level out and come back to regular levels, but if you look at the pools you will notice a consistent disproportionate amount of hash from a few users.

Many Lower hash rate users with higher power requirements dropped out to be replaced with the top FPGA miners thus increasing the disproportionate distribution.

[john-connor]

even with the reduction of the block reward I still think that the number of coins created per day is very high.
The dump will be greater after the FPGAs are widely used.

Why should the "dump" be higher? Even if billion of FPGAs are used, the total amount of mined coins will be constant and decreased with each block reward reduction.

Yes, but electricity costs will be much lower with FPGA than GPU, so miners will be more willing to dump

I agree and all those old FPGA farms from early bitcoin days are making a killing

What we need is something that everyone can get easily instead of some limited item geared towards early FPGA bitcoin farms

No, the chinese GPU farms are making a killing. There is no more than 100 FPGA boards on the entire mining network. The GPU's own 95+% of the network hashrate. Most old Bitcoin FPGA's are cracking passwords which is much more profitable than mining a coin.

Thank you for your support.

[john-connor]

I agree and all those old FPGA farms from early bitcoin days are making a killing

What we need is something that everyone can get easily instead of some limited item geared towards early FPGA bitcoin farms

I don't believe there are as many of these out there as we all thought there would be. I think many have been discarded or are no longer operational. The network hashrate has barely changed since FPGA code came out and you can't find used ones anywhere. I believe most people are still using GPU.

I noticed a significant jump in hash rate as soon as FPGAS came into the mix

Incorrect, the hasrate/difficulty went down because a chinese GPU farm got kicked off the network via pool ban for stealing shares. Since then the difficulty has gone sideways. Check the block chain, it will concur.

Thank you for your support.

[john-connor]

News paper from John-Connor

Node Incentives: An autonomous decentralised incentive and donation system.

Announcement (please share): https://twitter.com/john_a_connor/status/639440252088786944

Why not just PoS?

Because it's not what Proof-of-Stake was designed to do. This solution has already been coded and is in testing stage.

Thank you for your support.

[john-connor]

News paper from John-Connor

Node Incentives: An autonomous decentralised incentive and donation system.

Announcement (please share): https://twitter.com/john_a_connor/status/639440252088786944

Why not just PoS?

Generating PoS blocks for the incentive system would meant they take away blocks from stakers (since there is obviously a fixed block generation rate/time) and PoS blocks are lowish in value anyway since it's 0.7% annual stake.

Taking away % from the PoW (5% was used in the paper as an example) seems esier to accomplish, or am I missing something?

5% is an example. In the real world the % would be much higher to facilitate distribution (up to 50% of the coinbase reward is acceptable). When the final variables are finalised the rough draft will be updated accordingly.

Thank you for your support.

[thefix]

even with the reduction of the block reward I still think that the number of coins created per day is very high.
The dump will be greater after the FPGAs are widely used.

Why should the "dump" be higher? Even if billion of FPGAs are used, the total amount of mined coins will be constant and decreased with each block reward reduction.

Yes, but electricity costs will be much lower with FPGA than GPU, so miners will be more willing to dump

I agree and all those old FPGA farms from early bitcoin days are making a killing

What we need is something that everyone can get easily instead of some limited item geared towards early FPGA bitcoin farms

No, the chinese GPU farms are making a killing. There is no more than 100 FPGA boards on the entire mining network. The GPU's own 95+% of the network hashrate. Most old Bitcoin FPGA's are cracking passwords which is much more profitable than mining a coin.

Thank you for your support.

I see, thanks for clearing that up

I didn't realize you had a method to track FPGA usage, it would be nice if you shared the tracking method with the community.

[bitcoin carpenter]

News paper from John-Connor

Node Incentives: An autonomous decentralised incentive and donation system.

Announcement (please share): https://twitter.com/john_a_connor/status/639440252088786944

Why not just PoS?

Generating PoS blocks for the incentive system would meant they take away blocks from stakers (since there is obviously a fixed block generation rate/time) and PoS blocks are lowish in value anyway since it's 0.7% annual stake.

Taking away % from the PoW (5% was used in the paper as an example) seems esier to accomplish, or am I missing something?

5% is an example. In the real world the % would be much higher to facilitate distribution (up to 50% of the coinbase reward is acceptable). When the final variables are finalised the rough draft will be updated accordingly.

Thank you for your support.

Awesome. ...  balanced equalitarian and pure genius..   now I'm really considering jumping in with both feet.

[I am the guy]

News paper from John-Connor

Node Incentives: An autonomous decentralised incentive and donation system.

Announcement (please share): https://twitter.com/john_a_connor/status/639440252088786944

Vanillacoin is looking more like bitcoin on steroids. Bitcoin maximalist's, watch out, there's a new kid on the block. This coin is officially 1337 status. 

[losk22]

Here's my wallet with disabled POS. All recommendations have been implemented.
I do not know how to insert the image.

[Gleason]

Here's my wallet with disabled POS. All recommendations have been implemented.
I do not know how to insert the image.

you can upload photos on this website for free without having to sign up or any BS. It also gives you a link for posing it to forums easy.

http://tinypic.com

[losk22]

Here's my wallet with disabled POS. All recommendations have been implemented.
I do not know how to insert the image.

you can upload photos on this website for free without having to sign up or any BS. It also gives you a link for posing it to forums easy.

http://tinypic.com

Ok

http://i62.tinypic.com/2nrihyf.jpg

[traumschiff]

News paper from John-Connor

Node Incentives: An autonomous decentralised incentive and donation system.

Announcement (please share): https://twitter.com/john_a_connor/status/639440252088786944

Why not just PoS?

Generating PoS blocks for the incentive system would meant they take away blocks from stakers (since there is obviously a fixed block generation rate/time) and PoS blocks are lowish in value anyway since it's 0.7% annual stake.

Taking away % from the PoW (5% was used in the paper as an example) seems esier to accomplish, or am I missing something?

5% is an example. In the real world the % would be much higher to facilitate distribution (up to 50% of the coinbase reward is acceptable). When the final variables are finalised the rough draft will be updated accordingly.

Thank you for your support.

Thank you for clarification! I would say that 50% seems rather a lot, but who knows, it may work out. It all depends on how well the market/price reacts. If we get a rise in price, cutting down more % doesn't seem bad for the current miners.

[dygus]

Do we know how many coins, per day, will be produce after block 200k?

[maccaspacca]

Here's my wallet with disabled POS. All recommendations have been implemented.
I do not know how to insert the image.

you can upload photos on this website for free without having to sign up or any BS. It also gives you a link for posing it to forums easy.

http://tinypic.com

Ok

http://i62.tinypic.com/2nrihyf.jpg

There's an easy way to determine if your wallet is presenting properly to the network for staking

Go to the debug.log file in your C:\Users\<your_username>\AppData\Roaming\Vanillacoin folder and open it up in notepad and go to the bottom of the text entries

You should see entries like this in the file;

[INFO] - coin::mining_manager::pos_tick: Mining manager, mining (pos) with 1 transactions in block, bytes = 181.

If you are seeing this type of entry then you are presenting properly for staking and all you need to do is wait... it will stake

Also make sure that the entry for POS is correct in your config.dat file - it should have an entry similar to;

"mining":{"proof-of-stake":"1"}

Hope this helps