So I don't know if this really has to do with just this coin but I don't feel like starting another thread so can anyone shed some light on this question I had..


Appreciate anyone that can shed some light onto this. Never cared for the whole POS idea but its starting to become fairly commonplace.

well I'm not gonna argue the scam, but in all fairness they did put up the source

50Ghash? That's completely absurd for a coin released so fairly with completely no premine...
{
    "blocks" : 1006,
    "currentblocksize" : 0,
    "currentblocktx" : 0,
    "difficulty" : {
        "proof-of-work" : 28.69661599,
        "proof-of-stake" : 0.00024414,
        "search-interval" : 0
    },
    "blockvalue" : 200000000000,
    "netmhashps" : 4108.36757289,
    "netstakeweight" : 0.00000000,
    "errors" : "",
    "pooledtx" : 0,
    "stakeweight" : {
        "minimum" : 0,
        "maximum" : 0,
        "combined" : 0
    },
    "stakeinterest" : 1000000,
    "testnet" : false


Pshh a mere 4Ghash, that sounds totally legit. Let's see, I have like 6 GPUs and i pull maybe 10Mhash so ya know, the nethashrate is instantly the equivalent of how many people mining...

BTW, I had no luck with getting a qt working but I got the daemon working and I do have a legitimate question that I'm not sure is specific to this coin or all PoS coins: so in order to be able to actually get an address (to ya know, mine) I had to add an additional enableaccounts=1 flag (as per the error message). Relaunch and try again and now it tells me I need to set staking=0 in order to use wallet functions. So that did work and I was able to get an address, but my ultimate question is can I now just turn staking back on? I'm not solomining either.

I feel like I'm missing something here because I know the intention is to essentially 'lock' coins which you want the POS rewards on and thus are turning off access to transaction features. Ok. But what stops me from just getting the address like I did, mining at a P2Pool, and having rewards sent to that address? Will they be accepted if i change either of these two options?

I think this would have been a lot easier, however, for some reason I had an issue with your qt version so all I have to go on is the daemon.

So guess what motherfucker? Your absolutely correct and we would like to thank you for actually being, I believe, the only person to actually check any of the calculations! If you would like, once the coin is launched please send me a pm with your address and you will most definitely be rewarded for calling us out on our fuckup. BitSlap is a two-way street, you call us out and your right - you win.

Anyway, my brain has reached its max capacity for one day but let me just touch on the pre-mine amount, block numbering, and show you how the modified distribution looks. In regards to the amount being high - if you look at it as a single account that I'm going to greedily be sitting on waiting to dump the second this coin is released on a market than your absolutely right. But that's not our goal - the current team consists of 6 people each working on different aspects with different levels of involvement so you need to consider that its not a singular amount. Second, we don't have any massive rigs nor did we rent any hashpower (heh, if you did - congratulations, your the first to officially get bitslapped) so any coin claiming 0% premine is either going to instamine or find some other scam to get it regardless.

But with all that being said and especially with the numbers being redistributed, I do tend to agree it may be a little high and I'm open to *some legitimate feedback* on what you all feel a fair number is. Also, we're looking for people that would be willing to contribute to BitSlap and essentially become part of the development group. To this end while we still intend to offer some of the typical bounties, once we're on track we plan to focus development into a few key projects and we would like to use a portion of that bounty to give to members willing to either contribute or take on some of these. It seems like there's always a lot of people looking to contribute to various coins in some way and it seems to me they're generally ignored by the developers so that's where the intent stems from.

So real quick in regards to how many blocks it would take and those concerns, the answer is that its going to be built into the first few blocks and then switch over to the actual curve. Done. That was easy.

And here's a look at the modified distribution thanks to Pelk:
http://i.imgur.com/Kxf484y.png

So I'll put up some reference numbers similar to the other ones in the morning but i guess the moral of tonight for everyone is shittalk + math = results. Peace bitches!

Well ya know what, I'm going to be dead honest here: thank you everyone! Because after literally days of straight calculations and coding, I try help people understand what we're doing in between hours of work and return to pages of shit talking... and you know what, I fucking love it. For there to be this much arbitrary shit talk must mean we're doing something right here.

So any legitimate questions might have to wait for me to have time to weed through this crap pile, but I will do my best to answer all of them. As for the rest of you - keep on hating

"50 told me, go 'head, switch the style up and if they hate then let 'em hate and watch the money pile up."

Now, if you want a working client in the near future we don't have time to answer all your questions right now so let me fill you in on a little bit of what's going on. So first of all - we will make sure that the git is up and everyone has the client before any pools start mining. If that means pushing the launch back so be it.

So to explain a little about what we're checking - as we mentioned before we had to rework the reward curve. To get it to be continuous it involves a 3rd order polynomial with a rather large exponential coefficient (10^-14 to be exact). As we were finalizing the code we foresaw that the potential buffer overflow that could result from the calculation, particularly as the block number gets higher. So we've been working to make sure that everything is fundamentally correct rather than rush to get out code that might break... just not right away.

We'll give an update on the launch soon and try to give an estimated time-frame for when the source will be released. To all the pools that have posted, we appreciate you supporting our coin and once we have everything online we'll be turning our support to you to make sure that everyone's up and running so we can distribute the hash as much as possible. We'll probably look into something like an irc chatroom or something of that nature to provide launch support for you guys so bear with us for a little.

Arite enough of this, I got work to do. Peace.

So I'm one of the Devs for BitSlap and I don't want to give away too much at the moment, but the answer to your question is actually both. Take it for what its worth, but maybe the real joke is that the joke is real 

For now I guess you'll just have to wait and find out. But maybe a little more info on our distribution might help you come to your own conclusions:

https://bitcointalk.org/index.php?topic=622985.msg7057408


BTW,


^^ Here's another little hint, we thought the exact same thing 

Arite everyone, I'm one of the core devs on BitSlap and I want to talk some of our goals and perspectives and also a little about how we've been planning our coin distribution. Disclaimer: if you haven't noticed we're gonna be pretty blunt with what we're about.

So without any fancy graphs and calculations lets look at how pretty much every coin distribution algorithm is structured. You have an (seemingly increasingly) massive decay in rewards, combined with poorly modified variants of KGW that tend to respond to arbitrary step increases in hash-rate with relatively massive difficulty increases. Honestly, I could go on for days about that tragedy... and I will, just not tonight.

Combine this with the crazy amount of coins being released and massive mining operations targeting these for the short time they have a relatively low difficulty and the timeframe for a coin to stay profitable to mine is in the range of literally days to a few months on the high end. So bottom line - devs get out with their pre-mine, big miners get an insanely disproportionate amount of the total distribution, and really everyone else gets fucked.

But really you have no one to blame but yourselves for actually mining, supporting, and even trying to defend these piles of garbage just to see a price rise so you can dump off whatever you were stuck with when you stupidly bought it. Bitcoin is a pretty damn impressive piece of work and 'BitSlap' is a pretty fitting name for what we've done as far as "improving" it.

Unbelievably, we're actually pretty damn good at what we do and given what has been considered the status quo as of late, its time for something new. So we have a lot planned and we're pretty excited to see what we can do here, but the the single most important part of any coins 'release' is going to be how well the distribution is initially structured. So you know what, we're gonna make sure we don't fuck that up.

BitSlap is a 'loose' fork of the original version of DarkCoin, a coin that we do legitimately consider an actual innovator in terms of quality. But after really doing some deep analysis, DarkCoin turns out to be in a lot worse shape than we had thought. So since we're about doing things differently, we've decided to actually go ahead and be honest about our development so that we have a wild chance at maybemaking something decent here.

So with that said, we've decided to rework parts of our coin rewards. We're still hoping to release at launch, but we're not going to force this coin out if its not ready
just cause your rigs all fired up for a quick smash and grab. Too bad you bloodsuckers, go find another coin! So it's pretty late and I think I've given enough of an intro for one night, so I'll leave with an overview of some of our technical specifications and tomorrow we'll show you [with data] what DarkCoin did right, and then how they went
and fucked it all up in a day.

-----
Max Coins: 100 million coins released over a period of 10
Block Target Time: 90s
Reward 'Reduction': Continuous Exponential decay over every block
-> This equates to a reward curve that should taper at much slower rate than DarkCoin resulting in a far less convex decay
-----

Bottom line: doge was like auto-tune - animal coins are dead (but doge's kinda like T-Pain, ya know he started it so it's cool for him), country coins are dead, no water has been cleaned or trees planted, and POS coins are exactly what they sound like. So stick around and get ready for the first real coin in... well ever.