[ANN] 42-coin Development Discussion Thread - page 39.

Than-Ioan

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Quote from: cryptocommoner on April 08, 2018, 08:48:07 AM

I have been doing more homework on this coin simply because it fascinates me. The coin is very similar to BTC with the added PoS aspect. One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

I was directed toward this link: https://bitcoin.stackexchange.com/questions/20635/what-is-42coin-why-it-is-highly-priced

This link is about the old 42...

Lasergun

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Quote from: cryptocommoner on April 08, 2018, 08:48:07 AM

I have been doing more homework on this coin simply because it fascinates me. The coin is very similar to BTC with the added PoS aspect. One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

42 always had the same 8 digit precision as BTC:

https://github.com/42-coin/42/blob/master/src/qt/bitcoinunits.cpp#L63
https://github.com/42-coin/42OLD/blob/master/src/qt/bitcoinunits.cpp#L63

Quote from: cryptocommoner on April 08, 2018, 08:48:07 AM

On another note:

I see the roadmap has testing with this thread linked: https://bitcointalksearch.org/topic/anntest-sabr-coin-development-discussion-thread-2480007

Can you update us on the status of this test that's been going on for over 6 months. I see it is being traded on coinscontrol exchange (infrequently), but cannot really find much other information regarding the coin or its current utility.

This is a sponsor's project, developing independently. Currently, there is no much success there due to some unresolved difficulties related to the direct use of cryptocurrencies in business.

cryptocommoner

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I have been doing more homework on this coin simply because it fascinates me. The coin is very similar to BTC with the added PoS aspect. One thing that stuck out to me when I was doing some more homework is that this coin is divisible by 14 compared to BTC's 8.

I was directed toward this link: https://bitcoin.stackexchange.com/questions/20635/what-is-42coin-why-it-is-highly-priced

specifically, this comment:

Quote

@vi.su. Er, no: 42*10^14 / 21*10^6*10^8 = 2 in my good ol' rusty calculator. So total amount of 42coin's lowest denomination pieces (what would be a good word for it? babelfishies??) is exactly double that of bitcoin's lower denomination

So, basically, 42 is double to total supply according to this comment (and my own math). I think that people would get more on board with this project if people understood this. BTC is purely PoW and half the total supply of 'sats' compared to 'babelfishies'. I am clearly not sure what to call it.

BTC total supply is: 21,000,000 to the 8th decimal is 2,100,000,000,000,000 sats.

42-coin total supply: 42 to the 14th decimal is 4,200,000,000,000,000 [to be determined]

On another note:

I see the roadmap has testing with this thread linked: https://bitcointalksearch.org/topic/anntest-sabr-coin-development-discussion-thread-2480007

Can you update us on the status of this test that's been going on for over 6 months. I see it is being traded on coinscontrol exchange (infrequently), but cannot really find much other information regarding the coin or its current utility.

cryptocommoner

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Activity: 112

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Quote from: Lasergun on April 05, 2018, 05:08:36 PM

Quote from: cryptocommoner on April 05, 2018, 09:47:24 AM

Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers?
Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?

The fees are not divided. 42 uses Proof-of-Work and Proof-of-Stake block generation methods, blocks in 42 blockchain are random, either PoW or PoS. Thus, transaction fees can either go to PoW miner or be destroyed by PoS miner. We can't predict what exactly will happen with the fees.

Thank you for the quick reply! It's very interesting that all of the blocks are random. I think this adds to the elusiveness of this coin. You will never know what block you will have your transaction verified through and who will be verifying it!

sirslayer

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chickens and cryptos

Yup!!, Lasergun is one smart cookie!!!!

IMZ

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Quote from: Lasergun on April 05, 2018, 05:08:36 PM

Quote from: cryptocommoner on April 05, 2018, 09:47:24 AM

Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers?
Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?

The fees are not divided. 42 uses Proof-of-Work and Proof-of-Stake block generation methods, blocks in 42 blockchain are random, either PoW or PoS. Thus, transaction fees can either go to PoW miner or be destroyed by PoS miner. We can't predict what exactly will happen with the fees.

Whoo!!

IMZ

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Quote from: Lasergun on April 05, 2018, 05:04:59 PM

Quote from: IMZ on April 04, 2018, 01:51:41 AM

https://www.coindesk.com/ethereum-asics-means-whats-next/

One thing about 42 that really interests me is the way that it 'straddles' POW and POS. I see articles about ASIC-resistance and hard forks to outflank those, and [edit ETH's] intentions to go 'full POS.' So, do I understand correctly that we are nicely positioned -- certainly being deflationary -- to manoeuvre around these issues in coming years?

Existing PoS models are not suitable to go to full PoS due to 42 very limited supply, only PoS based on CoinAge is working, but very slow and it can not be the main method of transaction confirmation. Low transaction costs work in 42 as a protection mechanism against ASICs. With the current tx fee, 42 mining will not be profitable until the price is $100m+ per one coin.

Thanks for your patience, Laser. My outfit -- you surely know some of them -- spend enormous effort analysing types of (rare) cryptos. I have devved at length on two.

Shall keep reading. (Found a 42 history that clarifies a lot of stuff, like the re-launch.) But the 'recipe' here is exciting.

Lasergun

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Quote from: cryptocommoner on April 05, 2018, 09:47:24 AM

Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers?
Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?

The fees are not divided. 42 uses Proof-of-Work and Proof-of-Stake block generation methods, blocks in 42 blockchain are random, either PoW or PoS. Thus, transaction fees can either go to PoW miner or be destroyed by PoS miner. We can't predict what exactly will happen with the fees.

Lasergun

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https://keybase.io/lasergun

Quote from: IMZ on April 04, 2018, 01:51:41 AM

https://www.coindesk.com/ethereum-asics-means-whats-next/

One thing about 42 that really interests me is the way that it 'straddles' POW and POS. I see articles about ASIC-resistance and hard forks to outflank those, and [edit ETH's] intentions to go 'full POS.' So, do I understand correctly that we are nicely positioned -- certainly being deflationary -- to manoeuvre around these issues in coming years?

Existing PoS models are not suitable to go to full PoS due to 42 very limited supply and 0 block reward, only PoS based on CoinAge is working, but very slow and it can not be the main method of transaction confirmation. Low transaction costs work in 42 as a protection mechanism against ASICs. With the current tx fee, 42 mining will not be profitable until the price is $100m+ per one coin.

cryptocommoner

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Quote from: IMZ on April 04, 2018, 01:51:41 AM

https://www.coindesk.com/ethereum-asics-means-whats-next/

One thing about 42 that really interests me is the way that it 'straddles' POW and POS. I see articles about ASIC-resistance and hard forks to outflank those, and [edit ETH's] intentions to go 'full POS.' So, do I understand correctly that we are nicely positioned -- certainly being deflationary -- to manoeuvre around these issues in coming years?

I'm trying to wrap my head around the PoW + PoS model. All of the coins have been mined already and the PoW model utilizes miners. The PoS utilizes forgers. Is there a dual verification happening where the transaction fees are divided between miners and a percentage to the forgers?

The deflationary model is inherent in the name, 42-coin, where no new coins will be mined. ETH is pushing to utilize CASPER to go full PoS to be 'greener' and decrease energy requirements. This will not change them from being inflationary and new ETH will continue to be created.

Can somebody better explain what is exactly happening with the transaction fees with a combination of PoW and PoS?

IMZ

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https://www.coindesk.com/ethereum-asics-means-whats-next/

One thing about 42 that really interests me is the way that it 'straddles' POW and POS. I see articles about ASIC-resistance and hard forks to outflank those, and [edit ETH's] intentions to go 'full POS.' So, do I understand correctly that we are nicely positioned -- certainly being deflationary -- to manoeuvre around these issues in coming years?

Ucicha

newbie

Activity: 37

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Tradesatoshi withdrawals not going through at the moment, stuck on pending, will post update

UPDATE: working again

IMZ

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Whooo! I've finally started trialling Tradesatoshi.

IMZ

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Nice review, Ucicha!

I know it's an unpopular view, but I still think that putting volume on the exchanges we already have is the first step towards . . . everything else, including getting new listings.

And there's a little traffic on the Discord channel.

Ucicha

newbie

Activity: 37

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I used Tradesatoshi, had minor GUI issues (had to reload page), otherwise everything works. They used to have an open chat, it was first restricted with rules a few weeks ago, and now it has been removed(chat was mostly just FUD spam and p2p trade, and fortunetelling). I had a positive experience when I opened my support ticked. Overall good exchange but low volume of trade.

IMZ

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Quote from: Than-Ioan on March 23, 2018, 02:35:52 PM

Withdrawals at TradeSatoshi are not working today...they promised that they will fix the issue 'soon'!
UPDATE: 3/24/2018 Withdrawals back again!

Got any advice/insight into Tradesatoshi, Than? I would like to give them a trial.

IMZ

legendary

Activity: 1498

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Nova is supposed to re-open deposits early next month. And I am patiently patiently working on the DEXchanges: much more complicated than I understood, and very interesting.

EDIT: and do you know we have four undeveloped pairs on Tradesatoshi? -BTC, -DOGE, -LTC, -BCH

Than-Ioan

member

Activity: 183

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Withdrawals at TradeSatoshi are not working today...they promised that they will fix the issue 'soon'!
UPDATE: 3/24/2018 Withdrawals back again!

Lasergun

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https://keybase.io/lasergun

Quote from: Ucicha on March 23, 2018, 07:00:57 AM

What would be the target space/length of the hashes, if im formulating this right?

This is a specified time span between the blocks to which the network aspires. More details in wiki: https://en.bitcoinwiki.org/wiki/42-coin.

Ucicha

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Activity: 37

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What would be the target space/length of the hashes, if im formulating this right?

Topic: [ANN] 42-coin Development Discussion Thread - page 39. (Read 105251 times)