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Showing 20 of 30 results by danzilla
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Board Announcements (Altcoins)
Re: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh)
by
danzilla
on 21/09/2014, 20:03:35 UTC
Ok, the smart contracts make sense.  That will definitely add security.
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Topic
Board Announcements (Altcoins)
Re: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh)
by
danzilla
on 21/09/2014, 18:41:44 UTC
Quote
The total supply of SolarCoin in circulation will be approximately §98.1 billion over the next 40 years. This is fully documented and is comprised of the following:

  • Public Staking and Mining: ~§100 million (0.1%) of which §33.3 Million are publicly mined using scrypt PoW until such time that the Proof of Stake algorithm is implemented (currently scheduled to take place at Block 357,520). All publicly mined SolarCoins represent historically generated and unclaimed solar electricity. From block 357,520 forward, the only new supply of coins will come from the 1% staking interest that is built into the PoS model.
  • The Generator Pool: §97.5 billion (99.4%) are currently stored in a secure, non-circulating generator pool account. These will be exchanged for “proof of generation” claims of solar electricity producers submitted over the next 40 years at the rate of §1 per MWh of solar energy generated. As claims grow, these SolarCoins will be released and become part of the “coins in circulation” such that the growth in supply over the next 40 years should mimic the growth in solar electricity generation worldwide, assuming all generators claim their coins.
  • The Genesis Pool: §500 million (0.5%) are stored in the genesis pool account for environmental charities, early volunteers, advisers, builders and maintainers of SolarCoin infrastructure. Genesis pool circulation is capped so that it will never represent more than 5% of total SolarCoin in circulation at any given time.

Did I read that right, 99.9% premine?  Grin

So you have to have trust in a centralized Generator Pool to hand out solar credits?  I thought the whole point of crypto-currency was decentralization, and trust-less transactions.
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Board Marketplace (Altcoins)
Re: NODE : BUY / SELL THREAD
by
danzilla
on 21/08/2014, 20:27:18 UTC
To people buying stakes, please be safe.  Make sure seller is on Node member list, and use escrow if possible.. I got a couple scammy offers when I was buying.
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Board Announcements (Altcoins)
Re: [ANN] NeosCoin [NEOS] - with Arbitrush, Multi-Algo, In-wallet trading & More
by
danzilla
on 21/08/2014, 19:40:13 UTC
Is time to buy or sell ?

It's time to BUY! BUY! BUY! SELL! SELL! SELL!
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Board Announcements (Altcoins)
Re: [ANN] NeosCoin [NEOS] - with Arbitrush, Multi-Algo, In-wallet trading & More
by
danzilla
on 21/08/2014, 19:04:29 UTC
Rough valuation: if 125BTC was collected during ICO, and that represents roughly 5% of coins, total valuation is 2500 BTC.  That puts it at top 30 coins right away (well, less since coins need to be mined).  So I think maybe people are worried that price could drop a bit initially with mining dilution.  I don't think that's the case, since mining will be slow (~72 days to double ICO coins), but hey, I'm not a crystal ball...

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Board Marketplace (Altcoins)
Re: NODE : BUY / SELL THREAD
by
danzilla
on 15/08/2014, 20:06:47 UTC
I'd be interested in buying a stake.  A lot of trust at this point, so it's risky.  I can offer .25 BTC or PM with best offer.
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Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - Entropybit 100% PoS - Multipool - Bugfix version 4.0.3! ★★
by
danzilla
on 09/08/2014, 13:05:42 UTC
I think there are probably some community members interested in starting a bounty to promote and spread Entropybit.  If anyone has suggestions, I could personally kick in a decent chunk to get the ball rolling. 
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Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - Entropybit 100% PoS - Multipool - Bugfix version 4.0.3! ★★
by
danzilla
on 08/07/2014, 16:17:11 UTC
Hm.  When I first opened 4.0.1, everything synced and after 24 hours I staked a whole bunch of blocks.  The staking then suddenly stopped on 7/2, and the wallet wouldn't sync.  I updated to 4.0.3, and now am synced up, but still have not seen a single POS block.  I thought there would be shorter staking times in the big update.  I should be getting some blocks right?

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Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - Pure Proof of Stake - Critical update to 3.0.1! ★★
by
danzilla
on 06/06/2014, 14:58:37 UTC
So it  looks like correct version is 3.0.1.2?  I was running 3.0.1.1 and thought I was ok without updating.  The critical update just says 3.0.1.  Which is correct, or are both 3.0.1.1 and 3.0.1.2 ok?


The correct versions are 3.0.1.1 for Mac and 3.0.1.2 for Windows. Both are version 3.0.1. The last number is simply the build number. The 3.0.1 Windows wallet had to be rebuilt because the first build accidentally included a deprecated dependency.


Cool, thanks for the clarification.
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Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - Pure Proof of Stake - Critical update to 3.0.1! ★★
by
danzilla
on 03/06/2014, 17:18:24 UTC
So it  looks like correct version is 3.0.1.2?  I was running 3.0.1.1 and thought I was ok without updating.  The critical update just says 3.0.1.  Which is correct, or are both 3.0.1.1 and 3.0.1.2 ok?
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Topic
Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - PoW/PoS - POS Only Starting at Block 400,000!! ★★
by
danzilla
on 06/05/2014, 15:32:15 UTC
Quote
Discontinuing POW at block 400001

This is a bad idea...

Decreasing the coin supply unexpectedly could be problematic for distribution, especially since the premine gets larger.  On the other hand, the same thing happened with BlackCoin.  It was supposed to be 100 mil coins, but POS kicked in and took out some POW blocks, so it ended with ~74 mil.  Didn't seem to matter, and possibly made the coin more valuable because of relative scarcity.
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Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - PoW/PoS - Critical Bug Fix: Please Update to 2.0.1.2!! ★★
by
danzilla
on 01/05/2014, 02:48:52 UTC

We are having discussions about raising the rate as the block chain gets longer. Minters are transaction processors. Part of the tradeoff for fast confirmation times is an elongated chain. However, a long chain puts a burden on minters who must keep an updated chain. A 5% flat APR may not be enough compensation in the long run, especially considering that the true inflation will be much lower because it may not be worth it to regular users to keep a full chain just to mint on their "spending money".


I personally think a lower rate is better.  There is less money coming in needed to maintain the value.  POS minting is not energy intensive, and minters can receive a good reward with even a laptop, or raspberry pi or simple computer.  No special hardware needed.  I think that preserves the value of all the other coins as well.


Yes. However, consider that after less than 3 months, the block chain requires nearly 250 MB, with most blocks containing no transactions outside of the mining or minting transaction of the block. What memory will be required of minters after 3 years, or 10? Additionally, there is computational overhead to search the blockchain and make calculations from the data. The compensation system will take these future needs into account.

For sure, that's a good point, and I guess it makes sense to keep the POS rate flexible as the network and blockchain grows.  Right now, it just seems that people use the minting income to dump on exchanges, but I do see the need to reward those who keep their wallets open and secure the network.  Increasing the money supply is also important, in my opinion, as usage increases, but 5% seems about right for that.
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Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - PoW/PoS - Critical Bug Fix: Please Update to 2.0.1.2!! ★★
by
danzilla
on 30/04/2014, 21:14:16 UTC
And all this time we all thought it was 10% per 90 days Sad

We are having discussions about raising the rate as the block chain gets longer. Minters are transaction processors. Part of the tradeoff for fast confirmation times is an elongated chain. However, a long chain puts a burden on minters who must keep an updated chain. A 5% flat APR may not be enough compensation in the long run, especially considering that the true inflation will be much lower because it may not be worth it to regular users to keep a full chain just to mint on their "spending money".

Be aware that this topic is under careful consideration at the moment.

[addendum]

Also, bear in mind that minting will gradually outpace mining at money creation. So far, about 83% of all potential proof of work (PoW) blocks are gone. At the moment, about 1/2 the blocks are minted by proof of stake (PoS) and 1/2 are minted by PoW. Over time, block creation shifts gradually in favor of minters. It is important to realize that, whether a block is mined or minted, each new block represents one less block to be mined. In other words, there is no set number of mined blocks. Once the block chain reaches designated heights, the mining reward will be reduced until eventually at block 1,100,000 (about 381 days) the mining reward becomes 0, irregardless of how many previous blocks were mined versus being minted.

In other words, the inflation rate right now is a little more than 1/2 the nominal rate because of minting. The long term rate will most likely be somewhat less than 5% because of the burden on minters, most of whom will probably not bother to mint because their holdings are too low and the block chain too long. In the long run, we will work to continue to refine the reward system to minimize inflation but optimize revenues for transaction processors (minters).

I personally think a lower rate is better.  There is less money coming in needed to maintain the value.  POS minting is not energy intensive, and minters can receive a good reward with even a laptop, or raspberry pi or simple computer.  No special hardware needed.  I think that preserves the value of all the other coins as well.
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Topic
Board Announcements (Altcoins)
Re: [ANN] ★★ EBT Coin - PoW/PoS - Critical Bug Fix: Please Update to 2.0.1.2!! ★★
by
danzilla
on 30/04/2014, 18:17:33 UTC
I think this coin has a lot of potential.  Committed dev, relative scarcity, good community.  Now we just need to make the coin even more useful, by creating value.  The flea market is a good start, and as people start being able to use the coins, the value will climb.
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Board Announcements (Altcoins)
Re: NEW COIN SOON TO BE RELEASED !! 100% POS 100%PRE-MINE 100% GIVEAWAY
by
danzilla
on 18/04/2014, 13:27:34 UTC
Herpes: Pops up when you least expect it.

Herpes: It's with you all the time.

Herpes: The coin that just won't leave.

 Roll Eyes
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Board Marketplace (Altcoins)
Re: CommunityCoin (COMM) trading thread
by
danzilla
on 15/04/2014, 13:47:51 UTC
I was ineligible for the giveaway (not enough posts), but I like the coin, and would like to buy 1 mil.  PM with offers. 
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Board Announcements (Altcoins)
Re: [ANN][IPO+Free Dist][INFC]INFormation Coin
by
danzilla
on 25/03/2014, 11:49:25 UTC
First 20 pages free?  I'm in.
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Topic
Board Service Announcements (Altcoins)
Re: [ANN] alcurEX Cryptocurrency Exchange - 50% IPO - Selling shares now!
by
danzilla
on 03/03/2014, 21:37:44 UTC
I am interested in this, but have a couple of questions:

What is the fee structure for AlcurEX?  That is, what fees will be charged for trading (eg .15% / trade)?  Any fees for deposits/withdrawals?  This will help determine the volume/timescale needed for our investment to be profitable.

How will profits be audited, other than just what you say on cryptostocks?   Will investors or outside eyes have access to the data on volume and trading on the exchange in some format, say monthly, or will it just be your word on cryptostocks?

The test drive you showed has fiat currency exchange.  Do you have the necessary requirements to implement this?  Is this planned for launch, or will it be added later?

Thanks for your answers,
D
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Board Altcoin Discussion
Re: [ANN]BitFund:Descendant of BitShares
by
danzilla
on 03/03/2014, 17:19:52 UTC
interested, sign me up.
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Topic
Board Announcements (Altcoins)
Re: [ANN] BlackCoin (BC) | Launched | scrypt | PoS | No premine
by
danzilla
on 28/02/2014, 02:54:01 UTC
Wallet won't load. Says blck.index failed to load.

That is a known bug that sometimes happens the first time you run it.  Run the wallet again, and it should automagically work.