Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 159. (Read 771512 times)

Lol

Nae wan has a scooby wee man.

When can Ken reveal more about intellihash; what it's is, what it does and how it works? I would like to be able to understand what makes intellihash a 'game changer'.  Thanks.

Those questions have been asked for months and Ken have ignored them completely so far.
What makes you think he will answer them now?

I've removed the alt-coin for actm shares suggestion - we seem to have discussed it and between us realised its not a viable solution.

I've also added some specific questions from Kleeck.

This is what I would like to see addressed, forget your asinine ActMcoinShare idea. And as an aside, wasn't there supposedly an ActM exchange in the works...? Did that just disappear like any notable updates/communication?

Just put them on havelock and be done with it already

You guys are actually taking this "suggestion" (troll post #423478) seriously? Wow.

I think colored coins could offer a better solution but the above suggestion may be possible.
With the assumptions that:

1 Merged mining does not cost any thing extra to asic miners. IX Coin and Name coin are well protected from 51% attacks on Merged mining .

2Miners won't drop coins if their value drops close to 0 for a long periods of time.

3Able to get enough pools to support it at it's on set.

4Coordination between companies and Pools is very easy to be able to issue new coins.

Incentive for miners would be small transaction fees (bits of active mining shares) from the buying and selling of active mining coins

These shares will have value while also offering a dividend.

While these may seem minuscule, Providing assumptions 1,2,3 and 4 are true, its possible to reach a point where if enough companies issued their stocks like this, the incentive for miners will be satisfied, as miners would slowly be acquiring a nice little portfolio of stocks for no extra cost.

However,

Security may not be as good as what colored coins/master coin are proposing

Which is more cost efficient for companies? I'm unsure in this regard, how many master coin, or how much of a master coin do you need to issue a stock.

Would colored coins be able to do all this for free including zero transaction fees for buying and selling?
Colored coins also seems much more decentralized as step 4 above would be giving even more power to the pools.
Colored coins proposed decentralized exchange is very appealing.



  

 

Colored Coins for sure are ready before an ActiveMiningCoin would be...

A possible solution is make it so that only Nodes with a key can hash a block, so Ken runs the network as the only miner and hashes a block every 10 minutes so we can move the coins to an exchange or make a blockchain transfer.

This would mean no one else can mine because the network would reject blocks that are mined with an incorrect key.

Is this possible?

If it's a Bitcoin fork it will have a blockchain.

The blockchain needs a proof of work so that it can be secure.

It's not at all a simple modification.

How do you limit the hash power per node? People have incentive to 51% attack so that they can undo that share sale they just made.

it wouldn't be for mining.  It would be pre-mined, and they would represent shares which would then be distributed. 
It would be no different than actually holding shares..

That is literally the worst idea I have ever heard.  No one would waste a single hash on a coin network with no reward and it would be 51%'d at release.

Why? Yes we need few modifications.  We can limit for example the max. hash power per nod. I'am sure that somebody can do what we need. These is a nice opportunity for developers. 

Please no. The last thing we need is a Ken that goes off on another tangent to build a Mastercoin/Bitshares/Colored Coins-clone.

I want miners first and shares on an exchange second.

The only way to do that is make the entire thing centralised, again you are looking for a network that is entirely opposite of what the fork will do and thus cannot work.

You will need several thousand GPU's mining ActiveMiningCoin using Script to have even the slightest chance to not be 51% attacked.

I am sure an alt coin will not work, hence all the time and energy going into coloured coins.

A simple clone of the software has no security for blocks. You can't just give the issuer control because that is re-coding the entire client.

With no miners Bitcoin cannot work and can be attacked. Just using the software as "shares" will be destroyed.

Guys - I've decided to try sending Ken a PM every monday which includes a concise list of questions and suggestions which we would like his attention to, as Ken isn't likely to be reading this thread in any detail (and I can't blame him). Please PM me with anything you would like to add. I will then post the updated list.


Update Requests:
Trading Shares
Chip/Miner Production

Suggestions:
Consider creating an alt-coin specifically for ActM shares.