[ANN] Bitcredit/CRE - first sidechain, claimable from Bitcoin, pow/pod

[Gabriel Eiger]

I'd rather see it on an exchange before GPU, before ROI goes down the drain.

Have you contacted any exchange yet?

Thank you for the input.

Yes, I agree, although once the source is released (probably tomorrow) it is only a matter of time before the code gets hooked into a GPU miner. That can not be controlled, but maybe shouldn't be actively encouraged by focusing core development effort in that area.

No exchanges have been contacted yet. Any suggestions on suitable ones?

I would petition C-CEX, Cryptsy, and Bleutrade. However almost any exchange accepting CRE, is a success.

Great, thank you. They will be contacted in the near future. Nothing preventing anybody from contacting exchanges themselves, I guess.

[1713887550]

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[1713887550]

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[1713887550]

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[Markov]

I'd rather see it on an exchange before GPU, before ROI goes down the drain.

Have you contacted any exchange yet?

Thank you for the input.

Yes, I agree, although once the source is released (probably tomorrow) it is only a matter of time before the code gets hooked into a GPU miner. That can not be controlled, but maybe shouldn't be actively encouraged by focusing core development effort in that area.

No exchanges have been contacted yet. Any suggestions on suitable ones?

I'd go for Yobit.Net, bleutrade, c-cex and poloniex

[Markov]

The top 5 priorities if I had any say, would be:

1. Blockchain explorer (Just adds a more "official" feel to the coin, and some verification)

2. Bitcoin client capabilities. (This is a big one, the ability to send bitcoins from the bitcredit core, basically merging the two, would be incredible for the market)

3. Lightweight client (Kind of following from #2, if you were able to share block directory files then they would both come hand-in-hand)

4. GPU miner (Self explanatory, the more ability we give users to mine, the more mining will occur and more users it will attract. This could be added after an exchange has accepted us, however)

5. Exchanges (Once the above 4 features are implemented, I think it would have proved to everyone how promising this coin is, and dedicated the developer is. An exchange would have a hard time saying no!)

But that's just my 2 cents

Do that and what you mined with your CPU will be worth nothing. I guess it's a race between exchange and GPU

[MRKLYE]

Do that and what you mined with your CPU will be worth nothing. I guess it's a race between exchange and GPU

Not true at all. Just basically allows for greater security of the network through increased hashrate.

[GreydonIselmoe]

The top 5 priorities if I had any say, would be:

1. Blockchain explorer (Just adds a more "official" feel to the coin, and some verification)

2. Bitcoin client capabilities. (This is a big one, the ability to send bitcoins from the bitcredit core, basically merging the two, would be incredible for the market)

3. Lightweight client (Kind of following from #2, if you were able to share block directory files then they would both come hand-in-hand)

4. GPU miner (Self explanatory, the more ability we give users to mine, the more mining will occur and more users it will attract. This could be added after an exchange has accepted us, however)

5. Exchanges (Once the above 4 features are implemented, I think it would have proved to everyone how promising this coin is, and dedicated the developer is. An exchange would have a hard time saying no!)

But that's just my 2 cents

Do that and what you mined with your CPU will be worth nothing. I guess it's a race between exchange and GPU

Incorrect. The value of your coin doesn't drop, but the % chance of you finding a block with your CPU will be lower. It'll just become more viable to GPU mine than to CPU mine.

Difficulty will increase, it doesn't render the value of your coins lower...

[Markov]

The top 5 priorities if I had any say, would be:

1. Blockchain explorer (Just adds a more "official" feel to the coin, and some verification)

2. Bitcoin client capabilities. (This is a big one, the ability to send bitcoins from the bitcredit core, basically merging the two, would be incredible for the market)

3. Lightweight client (Kind of following from #2, if you were able to share block directory files then they would both come hand-in-hand)

4. GPU miner (Self explanatory, the more ability we give users to mine, the more mining will occur and more users it will attract. This could be added after an exchange has accepted us, however)

5. Exchanges (Once the above 4 features are implemented, I think it would have proved to everyone how promising this coin is, and dedicated the developer is. An exchange would have a hard time saying no!)

But that's just my 2 cents

Do that and what you mined with your CPU will be worth nothing. I guess it's a race between exchange and GPU

Incorrect. The value of your coin doesn't drop, but the % chance of you finding a block with your CPU will be lower. It'll just become more viable to GPU mine than to CPU mine.

Difficulty will increase, it doesn't render the value of your coins lower...

No you will get a lot of dumpers and your price will go down little by little. Difficulty increasing I agree and a more secure blockchain as well but for sure the price will go down. It's simple logic.

[MRKLYE]

The top 5 priorities if I had any say, would be:

1. Blockchain explorer (Just adds a more "official" feel to the coin, and some verification)

2. Bitcoin client capabilities. (This is a big one, the ability to send bitcoins from the bitcredit core, basically merging the two, would be incredible for the market)

3. Lightweight client (Kind of following from #2, if you were able to share block directory files then they would both come hand-in-hand)

4. GPU miner (Self explanatory, the more ability we give users to mine, the more mining will occur and more users it will attract. This could be added after an exchange has accepted us, however)

5. Exchanges (Once the above 4 features are implemented, I think it would have proved to everyone how promising this coin is, and dedicated the developer is. An exchange would have a hard time saying no!)

But that's just my 2 cents

Do that and what you mined with your CPU will be worth nothing. I guess it's a race between exchange and GPU

Incorrect. The value of your coin doesn't drop, but the % chance of you finding a block with your CPU will be lower. It'll just become more viable to GPU mine than to CPU mine.

Difficulty will increase, it doesn't render the value of your coins lower...

No you will get a lot of dumpers and your price will go down little by little. Difficulty increasing I agree and a more secure blockchain as well but for sure the price will go down. It's simple logic.

Those who dump their Bitcredit off the get go will cry once its acceptance and use begins to rise.

[Gabriel Eiger]

10000 blocks mined, half way to first reward update

As you can see from the snapshot below we have now gone past 10000 mined blocks. The deposit requirements are rising accordingly and the first reward update to 45 CRE can now be seen on the Prepare miner deposits page, will occur at block 20000, or thereabout.

The block creation process seems to go slightly faster than planned, this can probably be accounted towards a continually rising hash rate.

http://bitcredit-currency.org/viewtopic.php?f=20&t=656&p=1193

[Markov]

10000 blocks mined, half way to first reward update

As you can see from the snapshot below we have now gone past 10000 mined blocks. The deposit requirements are rising accordingly and the first reward update to 45 CRE can now be seen on the Prepare miner deposits page, will occur at block 20000, or thereabout.

The block creation process seems to go slightly faster than planned, this can probably be accounted towards a continually rising hash rate.

http://bitcredit-currency.org/viewtopic.php?f=20&t=656&p=1193

A bit confusing as I thought the reward would be 45 credits from block 10,000.
Maybe in the next update you could make that screen a bit easier to see that the increase in reward doesn't correspond to the left hand side of the details.

[Gabriel Eiger]

10000 blocks mined, half way to first reward update

As you can see from the snapshot below we have now gone past 10000 mined blocks. The deposit requirements are rising accordingly and the first reward update to 45 CRE can now be seen on the Prepare miner deposits page, will occur at block 20000, or thereabout.

The block creation process seems to go slightly faster than planned, this can probably be accounted towards a continually rising hash rate.

http://bitcredit-currency.org/viewtopic.php?f=20&t=656&p=1193

A bit confusing as I thought the reward would be 45 credits from block 10,000.
Maybe in the next update you could make that screen a bit easier to see that the increase in reward doesn't correspond to the left hand side of the details.

Thank you for the input. I understand now that you say it that it may be a bit confusing.

The left hand side deposit requirement and reward actually corresponds to each other row by row but the values are relative to the latest block. Instead of 1000th estimated deposit, which is the relative level from the current tip, it should probably instead say the absolute block height.

Will change for the next release.

[ltcnim]

diff. went from 8.07 to 22.22 

[Gabriel Eiger]

diff. went from 8.07 to 22.22  

Well, that would explain the high block creation speed...

This should at least slow down block creation. For the moment.

[Gabriel Eiger]

Source code will be released within a few hours. Keep an eye on this forum.

[GreydonIselmoe]

diff. went from 8.07 to 22.22 

Hashrate dropped to 140 Mh/s also. Only 5 blocks seen in the last hour!

[Gabriel Eiger]

diff. went from 8.07 to 22.22 

Hashrate dropped to 140 Mh/s also. Only 5 blocks seen in the last hour!

I'm a bit concerned that the block creation rate has been so high the last week or so. That the block creation rate drops is just an effect of the difficulty rising so all is good and well there.

[GreydonIselmoe]

diff. went from 8.07 to 22.22 

Hashrate dropped to 140 Mh/s also. Only 5 blocks seen in the last hour!

I'm a bit concerned that the block creation rate has been so high the last week or so. That the block creation rate drops is just an effect of the difficulty rising so all is good and well there.

Yeah, I know I'm not worried, just giving an update on current status of the blockchain.

[Gabriel Eiger]

diff. went from 8.07 to 22.22 

Hashrate dropped to 140 Mh/s also. Only 5 blocks seen in the last hour!

I'm a bit concerned that the block creation rate has been so high the last week or so. That the block creation rate drops is just an effect of the difficulty rising so all is good and well there.

Yeah, I know I'm not worried, just giving an update on current status of the blockchain.

That's good, it's great to have engaged people involved in the project.

[Gabriel Eiger]

http://bitcredit-currency.org/viewtopic.php?f=17&t=659&p=1196

----------------------------------------------------------

We are proud to announce that the source code for Bitcredit/CRE has now been released at Github!

Bitcredit is the first Bitcoin sidechain implementation, currently integrating with the Bitcoin network and claimable for all Bitcoin holders.

All sources can be found at https://github.com/gabriel-eiger/bitcredit.

This announcement comes with a call to participate in the further development of Bitcredit. Source code auditors, developers and other participants interested in contributing to the network are welcome to contact the core developers at http://bitcredit-currency.org or directly on https://github.com/gabriel-eiger/bitcredit.

[Gabriel Eiger]

Bumping this thread due to important announce regarding source release above.

http://bitcredit-currency.org/viewtopic.php?f=17&t=659&p=1196

[MRKLYE]

http://bitcredit-currency.org/viewtopic.php?f=17&t=659&p=1196

----------------------------------------------------------

We are proud to announce that the source code for Bitcredit/CRE has now been released at Github!

Bitcredit is the first Bitcoin sidechain implementation, currently integrating with the Bitcoin network and claimable for all Bitcoin holders.

All sources can be found at https://github.com/gabriel-eiger/bitcredit.

This announcement comes with a call to participate in the further development of Bitcredit. Source code auditors, developers and other participants interested in contributing to the network are welcome to contact the core developers at http://bitcredit-currency.org or directly on https://github.com/gabriel-eiger/bitcredit.

This is great news. With the source code now available users have the ability to audit and compile the code themselves.
The network mh/s has fallen a fair amount since the difficulty update but I think those serious about mining and Bitcredit are still involved.

I'll continue mining, and running my faucet as well. You can visit it here:  kingklye.com Bitcredit (CRE) faucet

Also a reminder that any new arrivals to the Bitcredit (CRE) community can claim a 10 CRE welcome bonus just by posting their address in this thread.