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Showing 11 of 11 results by unknownknown
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Board Announcements (Altcoins)
Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 20/09/2014, 20:00:23 UTC
By the way the majority of devcoins are essentially mined by human creative work: 180M coins were distributed to people who earned shares for developing open source software, completing bounties, writing on devtome, which pays 1 share for between 700 and 2000 words according to writer's quality.  The number of shares acts as the effective difficulty in earning devcoins, which is getting harder and harder (just like bitcoin mining). The coin has been around for more than 2 years but devtome is a fairly recent addition.

Devcoin is outstanding, I support it fully, but the distribution really is limited. It is more like a club or clique coin, a way to show support but not practical as a currency in the long term.

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Board Announcements (Altcoins)
Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 20/09/2014, 18:22:12 UTC
I don't really think it's possible to create a human mineable coin. The problem is you need a PoW algorithm which is hard for bots to solve but easy for humans to solve, but it also needs to be easy for computers to verify the solution. There is no easy way to meet those requirements. The problem space would have to be so huge that a bot wont have any chance at finding a solution by randomly searching for one, but it should be solvable by applying creativity and logic. For example when a programmer is faced with a problem he must apply creativity and logic to write an algorithm which can solve the problem. If he were to randomly try every possible algorithm he would never find a solution, but by applying human reasoning skills he is able to write an algorithm capable of solving the problem. That is the sort of PoW problem required to make a human mineable coin.

It does not need to be a 'solveable' PoW. When for example two or more people compete in a game they are matching human qualities against human qualities. A 'game' context would also solve the language issue since anyone could mine without knowing a specific language.

In general terms I will admit that you are a developer and I am not so I can't answer very well your points. But in this instance it is a fresh enough concept that the limitations you might see could be solved simply by starting from scratch. The only things to be taken for granted are 1) an electronic currency 2) mineable only by individuals 3) without regard for the level of tech they can afford etc.

A person should prevent it from being a gambling currency, in other words some purpose and skill should be involved. Aside from that it isall developer issues and problems to figure out how it could be done. Out of my depth ha ha.
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Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 20/09/2014, 18:04:00 UTC
The challenge is to develop the coin in a way that stays ahead of automators and to anticipate the effect the coin might eventually have on local economies, i.e., anticipate problems that might arise.

I think you'd have to do something like Amazon Mechanical Turk where people submit tasks and have to pay for them, and then the system allows, but does not require, humans rather than bots to preform the tasks. People won't pay human-labor prices for tasks that can be automated, they will simply automate them, so such a market naturally attracts tasks that can't be automated.

Turning that into a mining algorithm is another matter. I can sort of think of ways that could work, but I'd have to take some time to work through the details, and I don't have time for it right now. Feel free to PM me to exchange ideas if you are working on this seriously.




Looked at the wiki for Amazon Mechanical Turk and am fascinated by it enough to look into it more later.

I am not a dev nor anything else but just an observer who thinks it is obvious that human mining is the next big step.

Also my resources are near zero in every category so although I support the concept fully someone with abilities and resources will have to do it. I think it is good to discuss this kind of thing publicly since maybe someone else will read and get a useful idea but I mention it here because bitfreak or some other dev might do something with it. If you and bitfreak discussed the issue some good might result.

Although I am not a dev or coin person etc I do know enough of other things to respect the potential of 'human mining' and also to understand in some way the long term impact of that step once it is taken. It certainly goes past bitcoin.
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Board Announcements (Altcoins)
Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 20/09/2014, 01:23:05 UTC

I somewhat agree. But there is always a catch to it, then for example it will be more profitable to own a bunch of low-grade computers, and people will thus collect bigger and bigger farms. Distribution is definitely one of the hardest issues to solve.

What I would like to see is a node-based reward system, like Darkcoin's masternode concept, where people are rewarded for anonymizing and fortifying the network. And it should of course also, like you pointed out, be easy and accessible for everyone.

I'm sorry it wasn't clear what is meant by human mineable.

It means a person performs a task on the computer that cannot be performed by bots. It would be cutting the edge of artificial intelligence to keep the coin a step ahead of automators.

1 person sits at a computer.

It could be a 15 thousand dollar computer in Seattle, a 600 rupee used tablet in Delhi, a smartphone perhaps.

They mine manually for x hours and reliably get about y coins. Some people will get y +10%. Some will get y minus 10%. But they all get roughly the same regardless what they can afford.

Will you and I mine these coins? Of course not. The people will be making like 0.1 usd per day. Grunt work.

Will it be a successful algorithm? It is about 100% sure that the first truly human mineable coin will get more publicity than any altcoin since bitcoin. Equally obvious the algorithm will progress similarly to bitcoin. First local game currencies like huc. Next a coin with more progressive intent but still primitive. Then a coin like primecoin that uses the labor, human in this case, more productively then simply running in circles.

The challenge is to develop the coin in a way that stays ahead of automators and to anticipate the effect the coin might eventually have on local economies, i.e., anticipate problems that might arise.

A person could then ask what step would folllow that in altcoins.
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Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 19/09/2014, 04:24:26 UTC

Human mining coin is a fail. The average person doesnt have time to waste literally, mining some coin instead of just buying a gpu/cpu and having that mine instead....

Anonymity is very important. I wish it got added to this coin.

Aside from anonymity features there is no more certain way to guarantee the success of a coin than human mining. It is a sort of holy grail, impossible to find right now, since coins are stuck at the moment on catering to miners.

The first coin that is truly human mineable / 1 man hour on a cheap computer in Lima Peru equals the same mining capacity as 1 man hour on an nsa supercomputer / will be in the top 5 in market cap weeks after it begins.

A lot of things make human mining difficult but it is probably the next truly big step in altcoins.
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Board Announcements (Altcoins)
Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 16/09/2014, 19:21:42 UTC

Anoncoin is just about to release ZC. Less then a month til it's on testnet. Howoever, the proofs are HUGE so the bloat is big. Would be nice if it could be on a minichain.


Although the quality of anc's zerocoin remains to be seen, I agree strongly with the suggestion that coins need to start moving in the direction of consolidating and working to make longer term projects. With dozens of new coins arriving every day the only ones that will last are the ones that can eat other coins, or work with them.

The ideal coin right now in my opinion a mix of xcn with an anonymous coin like anc and a human mined coin like huc.

The first coin to be truly human mined will jump ahead of all other coins quickly. HUC is the closest to that.
Anonymity is extremely important to some people in some places but for a coin to succeed long term the anonymity must be optional. Most people will reject mandatory anonymity.
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Board Announcements (Altcoins)
Re: [ANN][HUC] Huntercoin - decentralized game/crypto UPDATE 1.0.11g 03/09/2014
by
unknownknown
on 16/09/2014, 18:43:50 UTC

If huntercoin allows/uses bots to mine, basically giving unfair advantage to cheaters, it will be a dead coin.

Cool opinion.  Either help make it better or come back in a year or 2.

If a few people are going to remove the 'human mineable' aspect of the coin by promoting bots then the coin will not exist in a year.

More and more it looks like some are trying to create a short term advantage for themselves, make it so they can mine huge numbers with bots and so on, which destroys the coin in the long term.

Quote
I have ran up to 24 or more QT clients at the same time spread across multiple PCs. At that rate limiting to 20 each still gives me almost 500 bots.


If the coin is just a ruse for a few people to make money off investors, a short term project to pretend it is human mined when it mostly is not, then please be clear about it.

Can a person use bots to mine on multiple machines?

In other words is the 'human mineable' part just a scam to lure naive people in?
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Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 16/09/2014, 01:13:24 UTC

The bad news is you need ring signatures for real anonymity at the moment.

The good news is many people are working on better forms of obfuscation for Bitcoin, so whatever they come up with can be glommed on to XCN, and probably with improvements thanks to XCN's advanced features.
 
Coinjoin is a start, with XC, DarkCoin, and ZeroCoin actively trying to improve upon it.  'DarkNite' has a nice ring to it!   Cool

 People sense that many governments / politicians are going to fight the new economy, and people think this or that kind of anonymity will be useful http://abcnews.go.com/Business/story?id=7168919 but who knows.

Ultimately it will be like every abrupt change in society, the smart vs the rich, or the stupid vs the poor.
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Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 15/09/2014, 19:29:44 UTC

XCN has a more innovative tech than 99% of the copycoins out there. But it provides no anon yet which is a must have standard feature nowadays.  While I agree that this coin really doesnt need to focus on a fancy superspecial anon solution like all the other coins, wouldnt it be possible to implement a simple mixer solution from an existing anoncoin without the need for a complete new rollout/blockchain? Guess the community would be more than happy to crowdfund a further dev for this, as we saw the impact on price when there were merely talks about a possible XCN cooperation with BTCD/Supernetwork.

I am a strong supporter of optional anonymity because that feature will be important in many countries if altcoins are going to have political power, but looking at the work of bitfreak and any others working with him/her it looks like they are ahead of the curve enough that a feature like that will not arrive too late.

Also as you say it might be that some person can add an open source tweak, like a mixer and/or a utility that routes the connection through a tor like service.
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Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 15/09/2014, 02:40:53 UTC
Ok I have release the web wallet I mentioned a few pages back. Like I said before, it doesn't support client side wallet encryption so I suggest only using it as an alternative to Qt by running it on your own local Apache server. It is fully capable of acting as an online web wallet however, and should anyone attempt it, make sure you force https connections. It requires PHP 5.4 or greater and the latest cryptonited revision (no binaries available yet, you'll have to compile it yourself using source from github).

Web Wallet: https://github.com/MiniblockchainProject/WebWalletQtAlt

Reasons to use it:
* check and change withdrawal limits
* get better control over tx inputs and outputs
* take advantage of the built-in explorer
* easily check stats like coin supply, block reward, etc.

My next task is to create a simple open source block explorer, which shouldn't take me very long because I've already had to write a lot of the code for the basic explorer which is built into the web wallet. Then after that I'll create a fork of the web wallet which supports client side encryption (like the blockchain.info web wallet), but the block explorer is more important so I need to get that done first. The multi-sig tools section of the web wallet also needs to be expanded but that can wait too.

Just saw this post and looked at bitfreak's history and decided I'm too paranoid. This coin and its creator look pretty clean. In fact it does look like the best coin I've seen so far. Add some kind of optional anonymity feature and it would pass litecoin in marketcap by next week.
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Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
unknownknown
on 14/09/2014, 17:07:30 UTC
So far it looks like one of the best altcoins but a word of caution.

The fact that the block explorer has been down for some time, and that there is only one block explorer, should give pause.

When there is only one explorer the person who runs it runs the coin.

When there is no explorer a person is being asked to trust too much.