Quote from: buttonmc on May 13, 2014, 07:27:03 PM

Quote from: captainhook on May 13, 2014, 12:34:49 AM

It's slow because domain transfer process requires 5 days for transfering geticoin.com to my account. Website is up now (old version as the new one i received from Cointopic is incompleted, not usable).
Next update is done too. Just one more thing is the new setting:

Current setting:
Algo: Scrypt
Total coins: 500 million
Premine: 1%
Block reward: 100 iCoin
Block time: 3 minutes
Reward halving interval: 128,000 blocks

Proposed setting:
Algo: X11
Total coins: 250 million
Premine: 0%
Block reward: 25 iCoin
Block time: 3 minutes
Reward halving interval: 64,000 blocks

Any sugguestions?

Quote from: KenChanYu on May 12, 2014, 09:01:17 PM

The dev seems slow with updates, if this is what the iCoin team had to deal with no wonder they left. I have a feeling that the anonymous Captainhook has run away with the btc for the IPO and working on his other coins.

iCoin most likely needs a coin take over but who would touch it now?

Shut your mouth up than just typing behind monitor and helpless.

There will be no new update until this a**h*** get out of this thread.

Hey CH,

I think there are a few factors to consider for the new coin release schedule:

1) Mining period- How long will x11 be ASIC resistant? 2ish years? Do we want to be able to mine icoin for 2, 5, 10, 20, or 50+ years?
2) Total number of coins- Depending on your mining period, this may vary. The suggested 250,000,000 ICN seems way too large considering the suggested block rewards and halving times. It would take hundreds of years to mine the total amount, and given the rapid rate of technology advancement, any algorithm would be obsolete.
3) Block Times- Faster transaction times would definitely provide more real world use. If you change reward times down to 1 or 2 minutes, you could just modify the block rewards so that the rate of coins being mined is the same, but confirmations are hastened.
4) Block rewards- I do agree we need a bottleneck in new coins entering the market, but is a 100 to a 25 ICN reward too drastic of a decrease? Would it kill mining all together? With such low trade volume, a 50 ICN block reward transition may ease the transition.
5) Block reward halving times- who said block reward halving times had to be constant. Why couldn't the halving times double as your rewards halved?

*Calculations are made assuming there are currently 11620850 ICN in circulation

Current suggested release schedule:

blocks   reward   time (years)   total coins
64000   25   0.365296804   13220850
64000   12.5   0.730593607   14020850
64000   6.25   1.095890411   14420850
64000   3.125   1.461187215   14620850
64000   1.5625   1.826484018   14720850
64000   0.78125   2.191780822   14770850
64000   0.390625   2.557077626   14795850
64000   0.1953125   2.922374429   14808350
64000   0.09765625   3.287671233   14814600
64000   0.048828125   3.652968037   14817725
64000   0.024414063   4.01826484   14819287.5
64000   0.012207031   4.383561644   14820068.75
64000   0.006103516   4.748858447   14820459.38
64000   0.003051758   5.114155251   14820654.69
64000   0.001525879   5.479452055   14820752.34
64000   0.000762939   5.844748858   14820801.17
64000   0.00038147   6.210045662   14820825.59
64000   0.000190735   6.575342466   14820837.79
64000   9.53674E-05   6.940639269   14820843.9
64000   4.76837E-05   7.305936073   14820846.95
64000   2.38419E-05   7.671232877   14820848.47
64000   1.19209E-05   8.03652968   14820849.24
64000   5.96046E-06   8.401826484   14820849.62
64000   2.98023E-06   8.767123288   14820849.81
64000   1.49012E-06   9.132420091   14820849.9
64000   7.45058E-07   9.497716895   14820849.95
64000   3.72529E-07   9.863013699   14820849.98
64000   1.86265E-07   10.2283105   14820849.99
64000   9.31323E-08   10.59360731   14820849.99
64000   4.65661E-08   10.95890411   14820850
64000   2.32831E-08   11.32420091   14820850

Current release schedule with previous "3 ICN Reward minimum":

blocks   reward   time (years)   total coins
64000   25   0.365296804   13220850
64000   12.5   0.730593607   14020850
64000   6.25   1.095890411   14420850
64000   3.125   1.461187215   14620850
64000   3.125   1.826484018   14820850
64000   3.125   2.191780822   15020850
64000   3.125   2.557077626   15220850
64000   3.125   2.922374429   15420850
64000   3.125   3.287671233   15620850
64000   3.125   3.652968037   15820850
64000   3.125   4.01826484   16020850
64000   3.125   4.383561644   16220850
64000   3.125   4.748858447   16420850
64000   3.125   5.114155251   16620850
64000   3.125   5.479452055   16820850
64000   3.125   5.844748858   17020850
64000   3.125   6.210045662   17220850
64000   3.125   6.575342466   17420850
64000   3.125   6.940639269   17620850
64000   3.125   7.305936073   17820850
64000   3.125   7.671232877   18020850
64000   3.125   8.03652968   18220850
64000   3.125   8.401826484   18420850
64000   3.125   8.767123288   18620850
64000   3.125   9.132420091   18820850
64000   3.125   9.497716895   19020850
64000   3.125   9.863013699   19220850
64000   3.125   10.2283105   19420850
64000   3.125   10.59360731   19620850
64000   3.125   10.95890411   19820850
64000   3.125   11.32420091   20020850

Here are my suggestions:

1) <20 year mining period (Instead of straight mining over the 20 year period, if PoS can eventually be added to add the remaining coins into circulation after x11 becomes obsolete in the next 2-3 years)
2) 42,000,000 total coins (250,000,000 coins is not achievable during any of our lifetimes given the current rewards / halving times. Just cut out all the fluff and tell people how many coins are going to be in circulation while they're alive.
3) 1 minute block times (Fast transaction times are a necessity if real world adoption is ever going to take place.)
4) Start with a 50 ICN block reward and decrease from there. (A drop from 100 to 25 seems like to quick of a drop that could harm mining rather than increase the value of the coin)
5) Have variable block reward halving times for more sustainable future mining.

blocks   reward   time (years)   total coins
128000   50   0.243531202   18020850
256000   25   1.704718417   24420850
512000   12.5   4.627092846   30820850
1024000   6.25   10.4718417   37220850
1529328   3.125   19.2008828   42000000

Hi,
Your suggestion are interesting
When changing parameters of iCoin - what will happen to mined coins?