Topic: [ANN] 42 | Time to Revive 42 Coin - Everyone get in here!!! - page 3. (Read 357185 times)

Indeed!  Exciting times peeps.  

I have not yet seen a valid block 990382 yet.  

 **OFFER**
I have here 42 real 21million capped original satoshi mainnet bitcoin millies here which I am offering to anyone in exchange for any mining fees generated in block 990382.  I really am that crazy coin collector willing to pay real money for such collectible nonsense.    

Remember, it is the longest chain which obeys the rules which wins and forms the consensus.  It doesn't matter how long Hendocoin gets, one can always mine a block of hard 42.

I notice that the markets seem to have more of a clue what is going on than the miners, even for a coin which only a handful of people care about.  This is not so uncommon in the cryptocurrency business.    

***
Exercises:

Consider the date is block height 14million or so, BTC nearing cap of 21million.  A bunch of nodes just keep mining away on BTC and don't drop the block reward.  What happens?  

So, my pools currently down (explanation in my pools ANN), but it seems my copy of the "funkenstein" wallet is stuck at 990381

Currently mining 42 coin on Hash-to-Coins -- block 990727 now.  Coins transfer to Cryptsy without issue.

any active nodes??

Ok - so we're past 990578.  What is supposed to happen?

Heya, thanks for the vote of confidence but I'm really just an observer, and one that is / was misinformed and/or wrong, as you can see by the fact that I was trusting a block explorer when making these claims of "12 hours away &c".   Well lets let that be a lesson to me.  Anybody know for sure what the block height and/or money supply of this coin are? 

I would find it easy to believe I got the math wrong, except that nailonhead and others in this thread previously had the same conclusion as to the magic number of 990382.   I have reason to believe we are at 990213 at the moment so hey presto not 42 yet.  I hope y'all didn't already use all your celebratory materials yet.

Once again, happy 42 y'all --    funkenstein the dwarf

 

hash-to-coins.com pool has working 42

All synced up and ready to mine at latenightminers.ca

I can host  second explorer just let me know

Just one miners thoughts (i am not good at math by any means so please rip this plan apart if possible lol):
We could have the community grab control of the source (with the devs permision of course) and appoint a trusted main dev/community leader , to apply any changes to the code (doing a majority rules poll on large decisions)   - my vote is for funkenstein, already familiar with the code, and as far as i can tell, 42coins most active supporter currently.
Once in control of the code, do a "re-branding" of sorts, keeping the original chain active for all those currently hoarding (like me lol running on funkenstein's 42-limited wallet or original, whichever wins out.)

Then the community could (if theres enough interested devs) create a re-branded "42coin 2.0". This time having the proper 42 coin limit right from the start. Add low-level POS (say 2-10% max per annum) for the hoarders, and add main-chain AND aux chain capability (so it has the ability to be used as either) for the pool owners/miners, and possibly change from KGW to a different re-targeting scheme (as im unsure if timewarp is still an issue). Basically do it right, from the start.
Or, combine the ideas/chains and make 42coin 2.0 have a max coin limit of 84, (yes higher then the original idea of 42, but still low enough that the original idea of rarity/high value should still hold) to allow for POS and continued POW mining while not splitting into 2 coins.... and keeping the hoarded coins valuable, but drop the block reward to 0.0000042 instead of 0.000042 to extend mining life and to make up for the added POS hoarders.

Im am not a c dev (but know enough about other languages that i could learn quickly if needed) but i can build pools, compile wallet binaries, and build a block explorer.

as i say, i am not a coin dev by anymeans, so i truly dont know if this is a viable option.... but its all i got lol

Thanks l8nit3 and infernoman!  Nice to see you too l8nit3  

I think the situation here with 42 is worth looking at, not just for the lulz and the number but also to learn something about public coins and forks. 

You have to figure out what you want to do as miners (and hodlers, and otherwise).  The trouble with capping the supply at 42 coins is that there will be no more coinbase mining reward.  The idea that people would mine 42 coin just for the TX fees is a bit ludicrous at the moment.   So at first glance, it looks like miners might prefer to keep producing new coin and screw the cap. 

However,  there is incentive to mine on the capped supply fork if you hold 42coin, because the value of each coin is instantly higher.  Another example of a coin with this kind of situation is NXT.  There is little to no incentive to come in and mine, but people mine anyway (in that case PoS mining) --  because they hold the asset and therefore want the network to stay alive.  Miners are in fact beholden to the holders due to the economics (they want to sell the coins they produce).     

Exchanges are going to have to decide which fork they operate on.. or they could run both for extra lulz.  Holders of 42 might be able to dump all their coin on an exchange that was running the infinite inflation 0.000042 every 42 second fork, collect the BTC and run away, still holding their 42 on the capped supply fork.  To ensure that a TX is valid only on one chain, one can include a bit of coin mined on that chain in the TX. 

The most obvious guess as to what is going to happen is that nobody will pay attention or do anything different, and everyone will continue on the infinite inflation path.  However, at any time in the future somebody could start mining on the capped supply path..  it's hard to believe nobody at all will ever be interested in that route.

Anyway we are apparently at 41.97 coins outstanding at the moment.  About 11 hours left  
 


 

 

Nice to see you still working on this funkenstein! has your change been merged into the main branch? (in which i simply pull an update?) or is this a seperate branch i have to merge to mine? (still learning the github syntax's)

nvm i figured it out compiling now, then latenightminers.ca will be running on the funkenstein wallet
Syncing chain now

Infernopool has made the switch

you working on this? stuff legends are made off

do you have a working wallet for 42coin?

This poor thing needs a community take-over otherwise wasted time mining.

http://latenightminers.ca
We have ditched the mpos/python stratum setup of the past (with per-coin pages and logins) and have recently begun running a strictly nomp setup.
We currently run 9 altcoins (6 scrypt and 3 sha256) and are always open to suggestion! (Coins will remain at 9-10 until larger server is acquired)
-42coin - scrypt
-acoin - sha256
-aricoin - scrypt
-casinocoin - scrypt
-mincoin - scrypt
-nyancoin - scrypt
-sexcoin - scrypt
-universalcurrency - sha256
-zetacoin - sha256
LOCATED IN SOUTHERN ONTARIO, CANADA

Please join us for our beta, and as always
~HASH YOUR HEART OUT~
L8nit3tr0ubl3 - Lead dev/admin of latenightminers.ca

I incorrectly subtracted an higher block from 990382.
Which still takes 4 years to be mined.
Thanks for pointing out my mistake.
That gives me.
0.000042 * (990382 - 423)=41.578278
0.0000001 * (419 - 1)=0.0000418
0.42 * 1=0.42
0.00042 * 4=0.00168

total=41.9999998
And an extra 0.00042 in 4.3 years.

PS. The love is mutual.

Ooh, someone cares enough to check!  This is progress.  Is there anyone else?  

Your math looks correct on first inspection.. so..   Where is the missing 37780  42 satoshi?  
 

0.00042 * 5=0.0021  <--  
that 5 should be a 4, only 4 special blocks because you counted genesis (premine) separate?  

Admittedly the one line patch I submitted still leaves us a few thousand satoshi short of our target: 4.2 billion 42 satoshi.  Anybody feel like making block 990382 another special block to recover that exact change?  Or is that little 42 dust a good gift to the gods?  If so, what is the exact quantity?  

Did I mention I love altcoins?    Cheers --  funkenstein the dwarf

Can you show me your calculations?
I got.
0.000042 * (990382 - 424)=41.578236 # 424 special blocks
0.0000001 * (419 - 1)=0.0000418 # 1 special block under 419
0.42 * 1 =0.42 # premine
0.00042 * 5=0.0021
total = 42.0003778

8 blocks + 0.0000418 to much

Almost there y'all!!  
Less than a week to go!    Current monetary base, 41.5 coins outstanding.  

If anyone wants to run a client that caps supply at 42 coins, I added the necessary 4 lines of code here.

https://github.com/fourtytwo42/42/pull/5


It only takes a single miner to keep either of these two forks alive.  It will be interesting to see where y'all go with it.