[ANN] Bitcredit/CRE - first sidechain, claimable from Bitcoin, pow/pod - page 13.

melwinder

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Quote from: MRKLYE on March 26, 2015, 03:56:06 AM

Quote from: melwinder on March 26, 2015, 03:53:05 AM

Quote from: MRKLYE on March 26, 2015, 03:50:48 AM

Quote from: melwinder on March 26, 2015, 03:43:25 AM

Whenever I launch the bitcredit QT, I keep getting "Bitcredit: No block source available..." "2 weeks behind"
What's that about o.O

the bitcoin is synching just fine, 4 yrs 3 weeks behind right now

Give it time to connect to the network.. Mine took about 2 minutes before it say peers on the bitcredit network.

I've had the QT launched for about 15 minutes now :/
Bitcoin sync is at 3 yrs 30 weeks now ----- 8 active connections to the network
Bitcredit still No block source available ----- 6 active connections to the network

Strange. Mine says 2 weeks behind but it hasn't moved as I assume that its waiting to downlaod another 2 and a half years of BTC Blockchain first.. lol
Let it download the BTCb blockchain. It seems to have priority over the Bitcredit blockchain off startup.

True true, And I asked a question but idk if anyone knows yet---but what is the Bitcoin to Bitcredit claiming ratio, for example, for one of my wallets I had like 300 transactions and like 4.XX bitcoin total received since I made the wallet, and I got like, 15 CLAMS.
Will it be similar to that, a small number?

MRKLYE

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Quote from: melwinder on March 26, 2015, 03:53:05 AM

Quote from: MRKLYE on March 26, 2015, 03:50:48 AM

Quote from: melwinder on March 26, 2015, 03:43:25 AM

Whenever I launch the bitcredit QT, I keep getting "Bitcredit: No block source available..." "2 weeks behind"
What's that about o.O

the bitcoin is synching just fine, 4 yrs 3 weeks behind right now

Give it time to connect to the network.. Mine took about 2 minutes before it say peers on the bitcredit network.

I've had the QT launched for about 15 minutes now :/
Bitcoin sync is at 3 yrs 30 weeks now ----- 8 active connections to the network
Bitcredit still No block source available ----- 6 active connections to the network

Strange. Mine says 2 weeks behind but it hasn't moved as I assume that its waiting to downlaod another 2 and a half years of BTC Blockchain first.. lol
Let it download the BTCb blockchain. It seems to have priority over the Bitcredit blockchain off startup.

melwinder

sr. member

Activity: 252

Merit: 250

Quote from: MRKLYE on March 26, 2015, 03:50:48 AM

Quote from: melwinder on March 26, 2015, 03:43:25 AM

Whenever I launch the bitcredit QT, I keep getting "Bitcredit: No block source available..." "2 weeks behind"
What's that about o.O

the bitcoin is synching just fine, 4 yrs 3 weeks behind right now

Give it time to connect to the network.. Mine took about 2 minutes before it say peers on the bitcredit network.

I've had the QT launched for about 15 minutes now :/
Bitcoin sync is at 3 yrs 30 weeks now ----- 8 active connections to the network
Bitcredit still No block source available ----- 6 active connections to the network

MRKLYE

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Activity: 1358

Merit: 1003

Designer - Developer

Quote from: melwinder on March 26, 2015, 03:43:25 AM

Whenever I launch the bitcredit QT, I keep getting "Bitcredit: No block source available..." "2 weeks behind"
What's that about o.O

the bitcoin is synching just fine, 4 yrs 3 weeks behind right now

Give it time to connect to the network.. Mine took about 2 minutes before it say peers on the bitcredit network.

melwinder

sr. member

Activity: 252

Merit: 250

Whenever I launch the bitcredit QT, I keep getting "Bitcredit: No block source available..." "2 weeks behind"
What's that about o.O

the bitcoin is synching just fine, 4 yrs 3 weeks behind right now

MRKLYE

legendary

Activity: 1358

Merit: 1003

Designer - Developer

Quote from: Gabriel Eiger on March 26, 2015, 03:24:30 AM

Quote from: MRKLYE on March 26, 2015, 03:02:43 AM

Quote from: Gabriel Eiger on March 26, 2015, 02:51:46 AM

Quote from: MRKLYE on March 26, 2015, 02:44:52 AM

Is their anyway I can use a bootstrap for the bitcoin blockchain download? I didn't realize I needed to have the whole damn thing downloaded. :/

Unfortunately for the moment, no. It could probably be (partially) achieved by downloading a bitcoin blockchain bootstrap and replacing some of the directories in the working directory. There is however no bootstrap specifically for Bitcredit for the moment. This issue should definitely be addressed.

So in theory I can just download the bootstrap.dat and stick it beside blockchain and it should work..? Or do I have to rename things?

Do you have a local up to date copy of the Bitcoin blockchain? Although this hasn't been tested recently there should be a way for you to be mining in a few hours in that case.

Make a copy of the "Bitcoin" directory, named "Bitcredit". Remove everything except the "blocks" and "chainstate" directory. Rename them:
"blocks" -> "bitcoin_blocks"
"chainstate" -> "bitcoin_chainstate"

Start the Bitcredit client. If all goes well you should get straight to the Bitcredit blockchain download. The inital sync between Bitcredit and Bitcoin blockchain still takes a few hours but you should cut down on download time significantly.

See this instruction for verifying that the client is in sync. http://bitcredit-currency.org/viewtopic.php?f=18&t=17

The first difficulty adjustment will happen in a few days, up until then you will be mining at lowest difficulty.

Get back to me on progress if you need it.

I do not. I was thinking maybe download bitcoinqt and the bootstrap and see if I can get miner faster.. I think eitehr way its gonna take a bit.
I seem to be downloading the BTC Blockchain at almost 1MB a second so it may take a while.

Very interested in this coin. Neat to see implementation of the BTC sidechaining idea like this. Hopefully I can be mining in a few hours.
Would be neat to catch around its release and help build it up.

I also do graphics design if you were looking. Shoot me a PM if you need something done.

Gabriel Eiger

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Activity: 280

Merit: 250

Lead developer of Credits [CRE]

Quote from: MRKLYE on March 26, 2015, 03:02:43 AM

Quote from: Gabriel Eiger on March 26, 2015, 02:51:46 AM

Quote from: MRKLYE on March 26, 2015, 02:44:52 AM

Is their anyway I can use a bootstrap for the bitcoin blockchain download? I didn't realize I needed to have the whole damn thing downloaded. :/

Unfortunately for the moment, no. It could probably be (partially) achieved by downloading a bitcoin blockchain bootstrap and replacing some of the directories in the working directory. There is however no bootstrap specifically for Bitcredit for the moment. This issue should definitely be addressed.

So in theory I can just download the bootstrap.dat and stick it beside blockchain and it should work..? Or do I have to rename things?

Do you have a local up to date copy of the Bitcoin blockchain? Although this hasn't been tested recently there should be a way for you to be mining in a few hours in that case.

Make a copy of the "Bitcoin" directory, named "Bitcredit". Remove everything except the "blocks" and "chainstate" directory. Rename them:
"blocks" -> "bitcoin_blocks"
"chainstate" -> "bitcoin_chainstate"

Start the Bitcredit client. If all goes well you should get straight to the Bitcredit blockchain download. The inital sync between Bitcredit and Bitcoin blockchain still takes a few hours but you should cut down on download time significantly.

See this instruction for verifying that the client is in sync. http://bitcredit-currency.org/viewtopic.php?f=18&t=17

The first difficulty adjustment will happen in a few days, up until then you will be mining at lowest difficulty.

Get back to me on progress if you need it.

melwinder

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Activity: 252

Merit: 250

I do have a question about the "Claiming" process, what is the ratio for bitcoin to CRE? Like one of my wallets has about 300 transactions and a "total received" of 4.4697 BTC ... would I only get 4.4697 CRE, or what is the deal there?

MRKLYE

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Designer - Developer

Quote from: Gabriel Eiger on March 26, 2015, 02:51:46 AM

Quote from: MRKLYE on March 26, 2015, 02:44:52 AM

Is their anyway I can use a bootstrap for the bitcoin blockchain download? I didn't realize I needed to have the whole damn thing downloaded. :/

Unfortunately for the moment, no. It could probably be (partially) achieved by downloading a bitcoin blockchain bootstrap and replacing some of the directories in the working directory. There is however no bootstrap specifically for Bitcredit for the moment. This issue should definitely be addressed.

So in theory I can just download the bootstrap.dat and stick it beside blockchain and it should work..? Or do I have to rename things?

tacee

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what algo is this coin? Huh

Gabriel Eiger

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Activity: 280

Merit: 250

Lead developer of Credits [CRE]

Quote from: MRKLYE on March 26, 2015, 02:44:52 AM

Is their anyway I can use a bootstrap for the bitcoin blockchain download? I didn't realize I needed to have the whole damn thing downloaded. :/

Unfortunately for the moment, no. It could probably be (partially) achieved by downloading a bitcoin blockchain bootstrap and replacing some of the directories in the working directory. There is however no bootstrap specifically for Bitcredit for the moment. This issue should definitely be addressed.

Gabriel Eiger

sr. member

Activity: 280

Merit: 250

Lead developer of Credits [CRE]

Quote from: MRKLYE on March 26, 2015, 02:28:19 AM

Checking it out and looks like binaries are available on the forums.
Very interesting coin. Hopefully my old addresses have some BitCredit in them and I can figure out mining.

For clarification - this coin is NOT related to https://bitcointalksearch.org/topic/bitcredit-migrating-to-uniqredit-896133. The shortname for that coins is BCR, the one announced in here is called Bitcredit/CRE.

Sorry if any confusion may have occured. With regards to your other question - see related reply.

As to figuring out mining - you are welcome to ask any questions on the board. It is actually quite simply, once the blockchains are in sync you can start mining from the built in command line in Bitcredit-Qt. Instructions can be found here http://bitcredit-currency.org/phpbb/viewtopic.php?f=18&t=18 and will be updated with some simplified instructions on how to start mining from inside Bitcredit-Qt instead of via bitcredit-cli.

MRKLYE

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Is their anyway I can use a bootstrap for the bitcoin blockchain download? I didn't realize I needed to have the whole damn thing downloaded. :/

Gabriel Eiger

sr. member

Activity: 280

Merit: 250

Lead developer of Credits [CRE]

Yet some more notes on side chaining:

With regards to the Blockstream white paper, http://www.blockstream.com/sidechains.pdf. The main type of sidechaining discussed there should destroy (lock) coins on the sending side and create them on the receiving side. It is difficult to understand the rationale for an individual to ever put their coins at stake in such an untested system, thereby minimising their incentive to move their coins.

It neither creates a higher level of security or gives a possibility of a transition to a safer currency. If a fatal flaw occurs in either of the two "Blockstream" sidechains, all coins that for the moment resides in the faulty chain will be lost.

It should also be noted that moving coins into several different sidechains do not solve the problem of overburdening one single worldwide system with transactions. It would only create isolated islands of different coins, disallowing most of the interchain transactions. In other words, coins from a local chain for Brazil would not easily be sendable to for example Argentina.

With a system where possession of coins instead gives the opportunity to claim a corresponding number of coins in another chain, a soft and less risk-prone transition to a new system can be achieved.

MRKLYE

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Can you send a few over to test the mining on this? I wanna see how it works before I put a wallet into it.

Bitcredit address: 1AsjqcD5hKNoDYmk6LcYskfKFZk9UpyGgy

Thank you

MRKLYE

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Checking it out and looks like binaries are available on the forums.
Very interesting coin. Hopefully my old addresses have some BitCredit in them and I can figure out mining.

Gabriel Eiger

sr. member

Activity: 280

Merit: 250

Lead developer of Credits [CRE]

Some more notes on side chaining:

The other half of a two-way sidechain currency, the destruction of bitcredits and following "de-tainting" of bitcoins may be implemented in the not too distant future. It is for the moment however unclear whether such a two-way process serves any purpose

Gabriel Eiger

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Activity: 280

Merit: 250

Lead developer of Credits [CRE]

Quote from: MisO69 on March 23, 2015, 12:17:36 PM

Quote from: timmyd on March 23, 2015, 09:37:57 AM

why would i send my wallet.dat to anyone lol

Nobody would do that.

The distribution is like CLAMS. He even gives instructions on how to do this without any risk of loosing your coins.

1. Make a copy of your Bitcoin wallet, alternatively export the private keys you want to use from the Bitcoin wallet.
2. Move the Bitcoins that you want to claim to a new Bitcoin address. Preferably this new address is a paper wallet. Information on how to create a paper wallet can be found by a Google search, the most common site used to create paper wallets is https://www.bitaddress.org.
3. Take the copy of the Bitcoin wallet that you created in step 1 and add it to the Bitcredit client.
4. Initiate a rescan of the wallet from Bitcredit.
5. Claim the coins.

That was taken from his forums.

Thank you for the clarification.

As noted above, there is no sending of wallets involved in claiming. Claiming can be done in a complete safe fashion and a full instruction on how to do it safely can be found here:
http://bitcredit-currency.org/phpbb/viewtopic.php?f=18&t=19

Claiming does not even need to involve the wallet file. It can be done on a key by key basis, and in a way that is provably safe.

With regards to CLAMS - as it seems from their site - there is a similarity but they seem to use a snapshot of each coin that they are integrating. Bitcredit is, as a comparison, fully integrated with the Bitcoin network and the ongoing mining of Bitcoins.

Gabriel Eiger

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Activity: 280

Merit: 250

Lead developer of Credits [CRE]

- Updated announcement naming standard, to avoid confusion.

- Updated section on sidechains, for clarification.

Is this a sidechain?
- Yes and no. It is NOT a sidechain implemented through a two-way-peg that removes coins from the Bitcoin network with the possibility to return them later. It is however, a working implementation of a one-way claiming process that taints the bitcoins that already have been claimed. This is a process that in practical terms makes Bitcredit a side chain. Sidechains that actually can move coins back and forth between chains can not be implemented in Bitcoin without major updates to the Bitcoin protocol. It can also be discussed if this actually is what one wants to achieve in a sidechain implentation, instead of giving Bitcoin users claiming possibilities in a new currency that has different properties, thereby enabling a safer transition to a new system. The Bitcredit implementation can be considered this type of "soft" sidechain implementation, since it does not destroy bitcoins. It is, to be more precise, a variant of what is described under section 3.3. Assymetric two-way-peg in the blockstream white paper on side chains. http://www.blockstream.com/sidechains.pdf.

MisO69

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Quote from: timmyd on March 23, 2015, 09:37:57 AM

why would i send my wallet.dat to anyone lol

Nobody would do that.

The distribution is like CLAMS. He even gives instructions on how to do this without any risk of loosing your coins.

1. Make a copy of your Bitcoin wallet, alternatively export the private keys you want to use from the Bitcoin wallet.
2. Move the Bitcoins that you want to claim to a new Bitcoin address. Preferably this new address is a paper wallet. Information on how to create a paper wallet can be found by a Google search, the most common site used to create paper wallets is https://www.bitaddress.org.
3. Take the copy of the Bitcoin wallet that you created in step 1 and add it to the Bitcredit client.
4. Initiate a rescan of the wallet from Bitcredit.
5. Claim the coins.

That was taken from his forums.

Topic: [ANN] Bitcredit/CRE - first sidechain, claimable from Bitcoin, pow/pod - page 13. (Read 12955 times)