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Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★
Because it is licensed, you would be violating IP laws by taking over the coin without expressed written consent from the holder of the Nyancat IP.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★
I bailed too. 85k sold. Too risky, with too many other, more quality coins not based on a meme whose followers care nothing for cryptos and are largely computer nooblets who dwell on facebook, or are children.
The missing devs/admins didn't get their PoS only, and now they are gone. Surprise.
Not a single admin of the reddit page is still posting at /r/nyancoins, most have gone to Doge. 3 have vanished.
Someone should have explained early on that "licensed" meant it was illegal to fork or otherwise damage without potentially being criminally prosecuted. The admins could also have said in the beginning "we will take community input and do what we think is best," like a benevolent dictator, but they didn't. It would have helped confidence IMO.
GG. It was fun. Nothing will bring me back.
The missing devs/admins didn't get their PoS only, and now they are gone. Surprise.
Not a single admin of the reddit page is still posting at /r/nyancoins, most have gone to Doge. 3 have vanished.
Someone should have explained early on that "licensed" meant it was illegal to fork or otherwise damage without potentially being criminally prosecuted. The admins could also have said in the beginning "we will take community input and do what we think is best," like a benevolent dictator, but they didn't. It would have helped confidence IMO.
GG. It was fun. Nothing will bring me back.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★
I hope this hard fork to X11 will include the 6 hour block maturity times I suggested for helping eliminate instant dumping during times of peak "profitability."
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★
I think the exploit thing has been figured out now. There are some links and info at this link. http://www.reddit.com/r/nyancoins/comments/227mrz/alert_rampant_kgw_exploitation_cryptorush_is_now/
_______
Also.
I had no clue there was even a "first vote" for algorithm. Last I recall algo options were being discussed on reddit, and all of a sudden I see the sticky about final call here.
I feel there was a major lapse in letting it be clear what was going on, and I would like to again request hybrid PoW/PoS. This split vote says it all. The strongest push from PoS only seems to be major bagholders or devs, who are probably major bagholders.
_______
Also.
I had no clue there was even a "first vote" for algorithm. Last I recall algo options were being discussed on reddit, and all of a sudden I see the sticky about final call here.
I feel there was a major lapse in letting it be clear what was going on, and I would like to again request hybrid PoW/PoS. This split vote says it all. The strongest push from PoS only seems to be major bagholders or devs, who are probably major bagholders.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★
!@@!@@!@@!@@!@@!@@!@@!@@!@@!
I'm not sure how it's being done, but quite a few coins with KGW have just been exploited via timewarp hacks.
Cryptorush is insolvent and disabled all KGW coins to prevent the theft of more coins. I'm willing to bet the stolen nyan is on cryptsy now.
We need to get rid of KGW FAST. Digishield NOW.
!@@!@@!@@!@@!@@!@@!@@!@@!@@!
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★
Hybrid X11/PoS? Half or 1/4 PoW reward and 2-3% PoS? 
Also, I hope cryptsy didn't end up successfully extorting our premine as an "investment" to let us on like they were trying to.
Also, I hope cryptsy didn't end up successfully extorting our premine as an "investment" to let us on like they were trying to.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
Without mining, there will be no way for people with little or no Nyan to get any without spending money. Without lower rewards and/or PoS, there is just too much supply.
The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.
Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.
I think hybrid is the right way to go it seems, imo.
It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.
The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.
Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.
I think hybrid is the right way to go it seems, imo.
It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.Read about blackcoin. This is very simple and geniusly. +1% of your coins for the year and multipul for other coin with exchange on blackcoin.
http://www.blackcoin.co/
Sorry for bad translation.
Blackcoin is a shitcoin. +1% over 1 year, what is this? If this is Nyan I am gone. All it did was benefit those who mined it early on, with no benefit for anyone getting into it now. The whole system they set up is rigged.
Either we have a novel coin via X11 and getting rid of the KGW for Digishield, or we clone BC, that is what I have seen. If we clone BC, might as well go with the original.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
Without mining, there will be no way for people with little or no Nyan to get any without spending money. Without lower rewards and/or PoS, there is just too much supply.
The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.
Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.
I think hybrid is the right way to go it seems, imo. It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.
The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.
Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.
I think hybrid is the right way to go it seems, imo.
It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
A few things I could like about PoS. The premine wallet/wallets could set up a level of security if always running. It would also generate coins I hope would be used at least 90% for giveaways. I would like legit promises they would be doing so, though.
It would also stop more Nyan from being produced faster than there are buyers. Counter to this, a fiat/Nyan exchange might help PoW accomplish nearly the same goal with a halving before the launch of the exchange. Though that exchange could equally help PoS.
So with PoS, what interest rates are we talking? Over how long? If I remove or add coins from my PoS wallet, will it stop earning coins for a while? I heard some coins require holding wallets. How many coins would it generate versus what is generated curently?
It would also stop more Nyan from being produced faster than there are buyers. Counter to this, a fiat/Nyan exchange might help PoW accomplish nearly the same goal with a halving before the launch of the exchange. Though that exchange could equally help PoS.
So with PoS, what interest rates are we talking? Over how long? If I remove or add coins from my PoS wallet, will it stop earning coins for a while? I heard some coins require holding wallets. How many coins would it generate versus what is generated curently?
The amount of coin generation and all these things are open questions that should also be discussed as a community. As for the premine coins, I have it from the dev that they no longer hold most of them. A lot were given to Chris and a large amount were given away for promotion and bounties. I don't know how much they still hold exactly but it's definitely less than half of the premine.
Shouldn't we know what we are getting into with PoS before we agree?
Must have been too great of bounties then early on, 1.5 million nyan given away within what, a month?
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
A few things I could like about PoS. The premine wallet/wallets could set up a level of security if always running. It would also generate coins I hope would be used at least 90% for giveaways. I would like legit promises they would be doing so, though.
It would also stop more Nyan from being produced faster than there are buyers. Counter to this, a fiat/Nyan exchange might help PoW accomplish nearly the same goal with a halving before the launch of the exchange. Though that exchange could equally help PoS.
So with PoS, what interest rates are we talking? Over how long? If I remove or add coins from my PoS wallet, will it stop earning coins for a while? I heard some coins require holding wallets. How many coins would it generate versus what is generated curently?
It would also stop more Nyan from being produced faster than there are buyers. Counter to this, a fiat/Nyan exchange might help PoW accomplish nearly the same goal with a halving before the launch of the exchange. Though that exchange could equally help PoS.
So with PoS, what interest rates are we talking? Over how long? If I remove or add coins from my PoS wallet, will it stop earning coins for a while? I heard some coins require holding wallets. How many coins would it generate versus what is generated curently?
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
I must agree with atheist that a block reward of 10% would scare away miners to a measly 10Mh...
at current price nyan is now not profitable, you mine with a loss ...
the reduction of 90% will lead to a 10x more loss to mine nyan (at current exchange rate).
only hope that the price will go up 10x will get the same mining power to the nethashrate. (many many people mine for profit not for fun).
at current price nyan is now not profitable, you mine with a loss ...
the reduction of 90% will lead to a 10x more loss to mine nyan (at current exchange rate).
only hope that the price will go up 10x will get the same mining power to the nethashrate. (many many people mine for profit not for fun).
I'm not sure who would consider 90% block reward reduction.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
You are talking about mined block maturity time. That's fine, we can change that to 6 hours or whatever. You said confirmation so I thought you meant block generation time. Miscommunication, sorry.
What about my other points about network hash and POW/POS though?
What about my other points about network hash and POW/POS though?
Yes, that is what I meant. It spares insta-dumping.
6 would probably be best, too, I agree. Too much more might build up Nyncoin in pools too much for safety.On hashrate. Nyancoin is low now, and some big steps could easily get that hashrate back to at least triple what it is with relative ease.
I do not wish for a halving with X11 instantly, but some time well before block 337k.
On PoW/PoS, I was pretty certain from peercoin having both prevent one from being attacked without the other also being required to be attacked.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
What you said is straight up false. DOGE has 4 hour difficulty retarget time. It's block confirmation time is 60 seconds. Difficulty retarget time doesn't do much for us since we have KGW. I don't know what you are talking about, but it certainly is not fact.
Much accusation. You are going off old information, again.
http://blog.dogecoin.com/post/79433719646/mandatory-update-dogecoin-1-6
Blocks retarget actively, at any time. Confirmations are 4 hours.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
The whole idea of a coin is as a currency...did you forget? Changing block confirmations to 6-12 hours makes it impossible to use NYAN to buy anything...What if you wanted to buy a coffee but it took 6 hours just to confirm your credit card? That long of a block time defeats the whole point of crypto.
That aside, the reason we can't afford to lower block rewards with X11 is because however much we lower it is however much less miners we will have. Lets say block rewards become 10% of what they are now. Then we will have ~10 Mh/s as our network hashrate. Well guess what? I myself have roughly 9 Mh/s under my control. I would then be able to go in and kill the coin with a 51% whenever I wanted to. Is that a vulnerability you want the coin to have?
POS will not suffer this problem since anybody can just open up their wallet and leave it open. Therefore, many more people will be able to hold NYAN and protect the network. It also costs very little from an electricity point of view to do so. Miners have obligations to meet, they won't stick around in our network providing hashes to protect us just for fun.
Even with the 120 block maturity, my nyancoin are sent from wallet to wallet and usable within 3-10 minutes. New block maturity does not have a significant effect on the usability of the coins. This is a long held misconception. Doge is at 4 hours right now.
How does lowering reward magically lower hashrate? What lowers hashrate is less miners.
So I need to open my wallet and leave it running to collect coins with PoS? Talk about ass pain favoring bagholders, with possibly corruption by said people when most dont want to leave a wallet with a few thousnd nyan open on a pc 24/7 only to make nearly jack shit returns.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
I don't want another Blackcoin clone...jesus, can't we be original?
"If only we market like doge," "if only we PoS/multipool for nyan," "maybe we should have an alt to nyan exchange."
That said. x11 is best. With no mining comes no interest, especially if I have to hold huge amounts for long periods in an untouchable wallet (like some PoS) to make any more nyan.
Also, why x11 and even distribution? Can't we get a block halving much sooner? Say block 133700?
"If only we market like doge," "if only we PoS/multipool for nyan," "maybe we should have an alt to nyan exchange."
That said. x11 is best. With no mining comes no interest, especially if I have to hold huge amounts for long periods in an untouchable wallet (like some PoS) to make any more nyan.
Also, why x11 and even distribution? Can't we get a block halving much sooner? Say block 133700?
We don't have the hash to sustain block halving. If we decrease supply with POW, anybody who feels like it can come by and do a 51% attack on us at the current market cap.
If we were a bigger coin, sure I'd agree that we can change the supply and use X11. However, we don't have that luxury. If you want to change supply, we use POS. If not, then X11 is fine. Though, if we don't change supply, I see nothing that will really turn the current trend around...
Edit: Also, I'm all for original ideas. Do you have any?
Also also, make block confirmation take 6-12 hours!
Wait what? Care to elaborate on how this helps the coin?
Why can we not reduce block rewards with X11? Seriously? I don't get it in the slightest why we don't have "the luxury" to do so. What does hashrate even have to do with the reward? Nothing I'm pretty certain.
The only reason our hashrate sucks is because there is nothing to spend nyan o, a lack of any certain future, no promotional campaign, little dev activity, and no public knowledge the nyancat dev actually cares for the coin and wants it to succeed. It seemed like heels were being dragged until just now.
PoS suffers from timestamp exploits more-so than PoW as well. It would not be hard too corrupt.
Increasing block maturity to such levels effectively eliminates "profitability miners" from the picture. No miner who cares about nyan needs his coins sooner.
Re: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! KGW Implemented! MANDATORY UPDATE ★★★
I don't want another Blackcoin clone...jesus, can't we be original?
"If only we market like doge," "if only we PoS/multipool for nyan," "maybe we should have an alt to nyan exchange."
That said. x11 is best. With no mining comes no interest, especially if I have to hold huge amounts for long periods in an untouchable wallet (like some PoS) to make any more nyan.
Also, why x11 and even distribution? Can't we get a block halving much sooner? Say block 133700?
Also also, make block confirmation take 6-12 hours!
"If only we market like doge," "if only we PoS/multipool for nyan," "maybe we should have an alt to nyan exchange."
That said. x11 is best. With no mining comes no interest, especially if I have to hold huge amounts for long periods in an untouchable wallet (like some PoS) to make any more nyan.
Also, why x11 and even distribution? Can't we get a block halving much sooner? Say block 133700?
Also also, make block confirmation take 6-12 hours!
Re: [2014 FLAGSHIP ALT] *EarthCoin* EAC +1 Community, +1 Exec Team, +1 Best Talent
Due to community request, Maxcoin is halving their rewards in a few days:
http://pastebin.com/tKMFUtC4
The developers decided to take this action nearly 11 months early in order to keep up community support.
If a coin that had planned to release a total of 250 million coins can permanently reduce that number to 106 million to keep their community strong, I do not see any reason a coin with over 10 billion would not do the same thing to keep our coin viable.
Halving now would rock.
It's a shame testbitcoiner had to let personal attacks get in the way of a viable argument. PoW is truly killing EAC as is. PoS would help, but so would having. Pick one and go with it. You wont get a second chance easily. I hope you pick the right one.
Seems only dedicated miners are bitching about PoS. I'm sorry your $3k rig would be useless for earthcoin. Seems people who actually care about the coin and it's future want a halving or PoS.
Re: [2014 FLAGSHIP ALT] *EarthCoin* EAC +1 Community, +1 Exec Team, +1 Best Talent
I should charge money for these economics lessons....
I just have to keep out all the personal insults...
I just have to keep out all the personal insults...
+1