Topic: [ANN] Datacoin - Censorship-Free Data Storage - page 12. (Read 66642 times)

That's rather a thoughtless comment, given the complete absence of anyone who might be ready and willing to do this work. Was there any point to the statement other than it just being an opportunity for you to complain generally?

Cheers

Graham

Hi all

my transactions do not get confirmed.

They remain in the mempool.

Blockchain is synced.

Any idea?

---

A transaction of 9:34 UTC was confirmed at 16:07 UTC...  Why

Hey Minerja

I am not mining, just buying.  Seems to be more logical to buy than mine at these levels.

I was thinking of a 10% proof of stake, which would still leave 90% of the coinbase reward for the miners.

-extro

Hi guys,
Can i just ask a dumb question.

Why when this coin is currently virtually valueless are people over mining it.


Looking @ http://coinsforall.io/#!/coin/DTC we have only 11 workers, and on https://dtc.graymines.net/ , zero workers.
The diff is @ 9.6193 and 3692.001 chains/day with 24 gpus

We could all be simply cpu mining via wallet, or mining with very low end hardware, thus lowering the diff, thus allowing us all to mine many more coins....in a few weeks when we all have many more coins, then increase hash, etc....

I'm sorry if i offend people, but i simply don't get why such low value coins are overmined....when there is clearly zero demand.....surely the whole point of mining is the vague hope of grabbing loads of easy to mine blocks, which one day will translate into value added coins.......at the current value if 1 single miner with 1 x 1030gt (30watt) was winning every block all day, i still don't think they would generate enough coins to pay the power bill, therefore currently the best choice is simply to buy this coin....
Remember you only need 2 wallets and 1 miner to keep a block chain moving, so if we get the diff sown to say half what it is now, then we may actually encourage people to join in the mining, but in a competitive market of 7500 different coins, what makes this attractive to miners currently?

extro1, i'm currently using wallet "datacoin-0.8.6.0-linux" and it appears fine, bit slow to open, and very slow to sync compared to say Primecoin wallet. So i think the wallet needs some more optimising.
(I opened DTC and XPM wallets together, DTC was 39 hours behind, and XPM 6 weeks,,,,,DTC is still 11 hours behind, and XPM has synced)

How's about both pools SHUT,
the wallet get slightly more optimised for syncing,
instead of having to go to Help, Console, and typing "setgenerate true 1", the wallet has a "MINING" tab, where a slider allows someone to select the number of threads....

The way i see it, is all the high value coins, BTC, ETH etc you can buy a rig, use calculators and pools, etc, and see that you CAN make money if you try hard enough, or at least if you can't today due to the fluctuations you probably will make money...so thats enough for peeps to take a chance....
but with DTC having virtually no value, and virtually no miners....to me, more than anything it needs a much bigger base, i mean there much only be 20-30 wallet open worldwide, and perhaps 2-5 peeps mining it.

If the wallet allows for simple cpu mining only, no pools, and a diff more down in the 1 -2 range,the barrier to entry drops, and with some advertising, hopefully we might increase miners to 100, maybe 1000 over quite a short period....who know...at the moment there is simply zero interest, so 1 miner with 1 1080ti rig and free power can completly dominate the coin, so how does that incentivise anyone else?

I hope between the contibutors on this forum you can come up with some ideas, because i think DTC stands out from the crowd, and is still true to the original concept of mining, and there are only a handful of coins left that still do that.

If no one wants to close the pools and help lower the diff, perhaps the only other option is to hardfork....have to say that most coins i see hardfork, usually die quite soon afterwards thou, so thats not an option i would vote for....

Just my thoughts
minerja

Just as a guide - Ryzen 1800 4 threads

11:16:12 getmininginfo
11:16:12
{
"blocks" : 3402345,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"errors" : "",
"generate" : true,
"genproclimit" : 4,
"primespersec" : 1404,
"chainsperday" : 0.14816184,
"pooledtx" : 0,
"testnet" : false
}

oh, and POS simply allows the bag holders to get richer....but alienates all new miners....besides i think there are currently 5200+ POS coins
Full disclosure, after nearly 3 years of mining this coin, i think i have mined about 8000 coins total ! 5000 are on an exchange @ a few stats and the rest are split over 5 or 6 wallets, so POS gets me ZERO.

Datacoin Block Explorer, Smart Contracts, Digital Assets and Online Markets

The Datacoin wallet has an inbuilt block explorer, written by Graham Higgins.  If Apertus can be included in the Datacoin block explorer to display the websites stored on the Datacoin blockchain we would have some very interesting consequences:

1.  We would be able to surf an uncensorable Internet with the Datacoin client.
2.  We would be able to write smart contracts using Javascript, executed by the Datacoin network.
3.  The ByteStamp digital assets would be interpreted (and tradeable) directly in the Datacoin client.
4.  Digital markets and social media would run on the Datacoin network.

The implications of Javascript becoming the language of Datacoin would be highly convenient.  It has basically become the language of the Internet.

I believe that this idea, and the addition of Proof of Stake, is what is needed to revive Datacoin.  The basics of a road-map.

-extro

Thank you very much.  Much appreciated.

I am in South Africa.  We are in national lockdown until April 16.  Maybe longer.

So far 1353 infected, 5 dead.

-extro

Well, we can proceed in this way, if you agree.

In a first step I will release the software with basic functionality.

Then you and some other guys will test it.

In a second step we could develop the ByteStamp digital assets market inside the same software.

I think with your help we can do it.

But we have to proceed step by step.

BTW, could I ask you from where you are? And what is your situation about Coronavirus?

I want to make it easy to buy and sell the ByteStamp digital assets.  I need a place to list the assets for sale, on the ByteStamp website or even in a wallet, and then I need to be able to list the price of the asset, in Datacoin or Bitcoin.  If somebody pays that price and posts their Datacoin address, the asset must transfer to the address of the new owner.   in this way you will create a market for Datacoin digital assets.

Thank you for all your hard work!  I look forward to testing your new wallet.

-extro

I am now working to another project involving ByteStamp and Datacoin.

Basically, it will be a "ByteStamp wallet" that will permit to you to do client side all the operations that you can already do on the web site.

I already released an Android app for this, but this will be a Windows software and will have more features.

I will let you know when I have something ready. So you can help me by testing the software, if you want.

But, let me understand, what is your idea?

I don't know how Rare Pepe Wallet works and what it is.

Basically, you can already exchange any ByteStamp Digital Asset by signing messages on the blockchain.

Because you only send to ByteStamp your signed message only you own your private key.

And the ByteStamp Digital Asset could be any file, even a Rare Pepe image.

So I think I missed something in your reasoning about Rare Pepe Wallet.

Thank You

is it possible to set up a market to buy and sell ByteStamp digital assets using Datacoin and Bitcoin?  Like the Rare Pepe Wallet.  I think Apertus had such a marketplace.

I think game objects like NPC's need standard formats to be added into a game.  I am just thinking aloud - is it possible to code ByteStamp assets to fit into game engines like Unity, Unreal and Godot?

I have made "card" objects with ByteStamp, basically by registering an image to my address.  I think there are "card game engines" where these cards can be used to play.

-extro

You are right.

ByteStamp is working hard since 2014 to create a Datacoin-based utility.

ByteStampProof  (Proof of Existence service) and tokenization upon ByteStamp Digital Assets are samples of this.

Please help to spread ByteStamp.

We are working to new features and Datacoin use cases.

Stay tuned.

Maintaining Datacoin price

Every day approximately 15465 datacoins (about $5) are mined.  Most of these coins are immediately dumped on the exchange for bitcoin, and as a result the price of Datacoin has slumped to almost nothing.

Other coins have faced the same problem, and several methods have emerged to maintain the price of a cryptocurrency: https://cointelegraph.com/explained/how-crypto-incentives-work-explained.  We need to implement the ideas triggered by these observations.

Miner Reward:
As miners dump their coins they depress the price and reduce the incentive to mine.  With less miners the difficulty drops, and the coinbase reward increases, leading to a vicious cycle of more dumped coins, lower prices and more miners leaving.  The result is a descent to 1 satoshi per datacoin.
The opposite happens when the coinbase production is bought up every day.  Miners are rewarded with a regular profit, hashing power on the network increases and the coinbase reward decreases, with an increase in the price of the coin.  Datacoin is lucky to have dynamic difficulty adjustment, with a minute by minute change in the coinbase reward.  As the number of miners increase and the hashpower on the network goes up it is possible to choke off the supply of coins, with a corresponding increase in the price.  Whales who buy up the daily coinbase production will discover that they have accumulated a large store of coins that are increasing in value as more and more miners join the network.  Because the coinbase reward will decrease, they will also discover that the cost of buying up the daily coinbase production remains the same, and that coins bought at a low value in the beginning become more and more valuable in time.


Hodler Incentive:
Various coins have tried to compensate hodlers for their service to the network.  Staking was an early attempt, and a later option was simply to pay hodlers an interest on the coins they deposit in a banking scheme.  Bitconnect is the most notorious example, but the reality is that they took a completely unknown coin to a billion dollar ecosystem.  Their problem was that they eventually found it too expensive to pay their high rates of interest.  This is where shopping and perhaps gambling can come in.


Shopping Opportunities:
Besides providing opportunities to use the coin, online shopping with products paid for in the cryptocoin also creates an opportunity to generate the funds needed to pay for the interest of the deposits of the hodlers.  So the profits on the shopping pays for the interest paid to the hodlers.  The system is balanced and it can continue indefinitely.  
Dropshipping with Shopify has provided an opportunity to do this on a global scale, while providing all the products of Alibaba and Amazon.


Developer Treasury:
Highly successful coins like Decred have implemented a developer treasury, with development projects voted on by the users themselves.  This has solved the issue of regular upgrades on the coin.  With so many Datacoins around I think we can easily establish a developer treasury.

Marketing and Publicity:
Marketing campaigns are fine, but they will only be successful if the other issues in the coin ecosystem are healthy, as I have explained above.  Otherwise marketing campaigns will have short lived effects, with the coin continuing its descent after the marketing has ended (and sometimes even before).  The best marketing is multi-level-marketing, (MLM) mostly combined with a hodler incentive (commission).

Without these systems in place I do not see Datacoin succeeding.  There is much work to do.

-extro

Once again, the Central Banks stand ready to bail out the stock markets and debase the fiats. 
Only the cryptocurrencies are the antidote to this madness.

I'll DM you tomorrow when i'm free. see if i can help you

I tried but dtcclient freeze PC

Should be.
Have you tried ? What errors are you having?

Is it possible to mine DTC with Radeon VII?

Sorry for the late reply.

Actually, you don't need to pay anything to use ByteStamp Digital Asset via Web site.

You only need to upload the file to ByteStamp and then click on the "take ownership" button, sign the message with your address using your software wallet  and paste it to bytestamp, then click submit.

All the operation is free

Sent you a PM 

👏 I'm down