Topic: [ANN] [COINO] The Coin(O) Community Discussion thread - page 33. (Read 70446 times)

Thanks for your offer to help but right now marketing will be of no use. Community Devs are working really hard to make this coin a success. There will be upgraded version of current webwallet with more games and a dedicated exchange for Coin(O). Once we have something new to offer, we will go ahead with marketing. With 50 secs confirmation speed, I think this coin will be a huge success but it will take some time. We together can make this a new big thing, not just a pump and dump like most coins.

Regards

Vipin

I am interested in this coin.

If you need any help on the marketing side then I can render assistance.

I am currently the active Developer of Extremecoin, BBQcoin and Bitcoin Scrypt, just to give you a bit of a bio.

Thanks.

You have got a point there. +1

Just a thought:  Has anyone considered the possibility of switching to the good old SHA-256 instead of one of the newer algos?  I mean, if you think about it, bitcoin asics are cheap and widely available now so many miners already own them or can easily get their hands on them (unlike scrypt asics).  GPUs are actually pretty expensive and use much more energy.  Wouldn't asics increase the security of the network and also raise the mining difficulty making the coin more rare and thus more valuable?

I mean look what asics did to bitcoin.  Didn't it actually make it a stronger coin?  Perhaps bitcoin is an exception since it is the father of all coins.  But the fact remains is that it seems to be a natural evolution to have more efficient ways to mine and at higher speeds i.e. asic miners.  We can't depend on inefficient GPUs forever can we?

Also, since no algo is truly asic resistant, will it be forever a game of cat and mouse as newer asics come out?  There's gotta be a stopping point somewhere.

There are probably a lot of points that I'm missing but just wanted to throw that thought out there as the community decides on the possibility of switching algo.  Not trying to suggest anything.  Just wanted to contemplate and stir up some discussion

True! Every algorithm will be hit by ASIC's - it just needs some time & money. X11 is pretty good atm, because it get's a lot of attention at the moment.


Yep, that's the reasons. Nothing else to say. We need to make decisions now. What do you guys think about a survey? Or is it too early?


Greetings,
DDerTyp

True SoreGums, I was also aware of there being a possibility of a more efficient miner, which also could be kept private, at least for a while.

The team who made x11 is the Darkcoin team, which has been getting some popularity lately.

To me it sounds like it shouldn't be the big issue, as x11 is not made in a way that actually should be able to utilize a GPU more than ~50 %.

I found this where a few people discuess the issue about optimized miners:
https://darkcointalk.org/threads/why-does-x11-run-cooler.178/

I have no idea whether it's possible to make hardware which would be able to be fully utilized, but a lot seems possible these days...


There is an article about x11 here, which seems to have kind of the same beliefs as me:
http://www.cryptocoinsnews.com/news/pros-cons-x11-algorithm/2014/04/10

Also, interesting read from an interview with the Darkcoin x11 developer here:
http://coinchomp.com/2014/05/09/interview-tale-of-two-halves-the-most-secure-algorithm-1/

Remember part 2:
http://coinchomp.com/2014/05/09/interview-tale-of-two-halves-the-most-secure-algorithm-2/



So, this seems like a slight concern to me. Every kind of algorithm will likely be hit by ASICs someday, if there is enough money involved.
Should it ever be an issue for us with x11, we could fork the coin by a new vote, of which it would require a majority of ASIC owners to vote no.

It's worth taking into consideration that a fork of a large coin could cause a split in community with 2 forks being used, such as with Litecoin, which was forked by some due to scrypt ASICs.


The reason I prefer x11 is because of the algorithms I know of, this seems very appealing right now, and I think the worry about ASIC for this is rather long term, so we would a least be able to avoid ASICs for a while. Especially taking into account we are already vulnerable to ASICs at this very moment.

I am not looking for BTC yet because PHCoin is pre-launch right now until about a few hours, I just want to hold PHC and will trade coino for it.
What is the current rate on coino now for BTC?  its been a while since I followed up with it.

How many do you want to sell for BTC?

I am here to support Coino... but I don't see a tremendous advantage to keeping and holding my Coino
Today, I plan to make some trades and see how it becomes a success. I want to use my Coino to buy other coins from the forums.

Does anyone want to buy my Coino for PHCoin? I'll make a thread about this, I want to see how this plays since PHC launches soon.

tldr; looking forward to an algorithm that enables as many people as possible to participate, for as long as possible (important).
The current immediate issue is that Scrypt ASICs are available, only purchasable by a minority.


Exactly what I was thinking, crypto currency accessible to the majority.
By any chance is there a proper write up going in depth into all these algorithms or is it pretty much a personal quest at this stage to figure it out yourself?

Based on the briefest flick through the pages of X11, it does seem appealing. This notion that it uses less power as it simply does less work is a bit of an issue though, all it takes then is for someone to make it efficient. Once that happens, 100% use of 100w is still 100w...

The switching in algorithm needs to be considered and thought out. Snap decisions in doing "anything" will most likely result in an unfavourable outcome that in hindsight would probably have been avoided if no decision was even made. A bit like age old developer time suck of optimising because it is fun even though the gain is 0.01%.

Needless to say, this is something we'd all need to keep reading up on, an informed decision and all that jazz.

The original Dev had real life to deal with and picked a different path than Coin(O) going forward.

For the other people participating in Coin(O) the choice was:

• disband (wallet got stuck on a block, no more blocks were being mined)
• or keep going, so some people stepped up and the community is still here

Poloniex is an independent entity run by people - they make choices about their endeavour and they chose to remove Coin(O) from their project - life.
There is no malice or ill will or anything else that would be "taken from", business, choices.

Did not know about this takeover. What happened? And why was it taken from poloniex?

I'm down with x11 too as that seems to be what's "in" right now. Look at the recent huge increase in value of darkcoin.

I don't know anything about coding so please excuse my ignorance, but how hard would it be to develop a completely new algorithm? Now that would really give this coin a huge boost. Again, excuse my ignorance. Just a thought I had.

Cheers bud

Yes you can, it's on: https://www.swisscex.com/market/CON_BTC as well.

Is this coin even tradeable now its been removed from Poloniex 

In my opinion X11 is great and we should also do something about inflation. A lot of investors are these days interested in POS because they know that no other coin will be generated other than people already holding it. For example I had Worldcoin once and I don't know how to mine. Miners kept dumping their coin, decreasing the value of coin. I was loosing my money's value everyday and I can't do anything about it. If you want Coin(O) to be used for general transactions than inflation should be controlled. Also if its POS with very low rate of interest , it gives incentive to hold your coin. And if suppose I am holding 100k out of 20 million current supply, it is 0.5% of current supply, to keep this percentage of supply I have to buy 400k more after its fully minted, which probably I can't because I have already invested what I had. This is the reason I like POS.

Please post your views on this.

Hey dr00g,
I totally agree to you! X11 is great, new and gives the Coin something special. I would like to see coino running with X11.

So, I think, that we should make a block halving. Maybe even 100.000 Blocks. Why? That's easy:

Let's say, Coino goes up to 1$. The diff and net hashrate is high and the reward is 35 Coino/Block. We all now, that this won't happen in the near future. If now the user holds a lot of coino, the volume goes up on the exchange platforms and everybody want to sell it. What happens? The price drops and coino crashes.
You can compare it with USD or EUR. If you print too much USD or EUR it will cause an inflation. And that's not cool.

So, this is my personal opinion. Please share your ideas guys, it's still a community coin!
If you like, connect to the IRC channel and share your ideas there (##coinocoin on Freenode)!

Greetings,
DDerTyp

I think ultimately whatever gets Coin(O) more exposure and meets our endgame goals would be the better path.  Sometimes we want to take short cuts and miss out on the fundamentals.  I am all for the x11 algo, but I think halving will only encourage cycles of pump and dump.