FC2 was intended as a parody of sorts of current altcoin releases. If people wish to mine it, more power to them. It has had a surprisingly smooth launch, though, I will say.
HazardCoin (name subject to change), should I decide to develop it, will be a big departure from current altcoin releases, and will attempt to fix the problems we've seen with recent coins. It won't be a copypaste job.
Topic: [ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine - page 16. (Read 133965 times)
May 14, 2013, 05:03:54 PM
May 14, 2013, 05:01:07 PM
how did this fail i don't have the nerve to read through 70 posts lol
Just trash talk, but it may fail.
A lot of people are upset over shenanigans surrounding the release, it remains to be seen if enough people will mine it to ever reach a difficulty of 24.
Apparently, that's where the "elastic" nature of the block reward system will take effect.
Hazardcoin is doing well, so we'll see.
FC2 is doing well. Another by hazard
https://bitcointalk.org/index.php?topic=205243.new#new
Hazard is an ass.. he is talking shit about every altcoin ... but his own are just plain copy's and then he start with his copycoin as a joke but pushes it true and hopes people will actually start mining it and then he profits....
And people actually do this because of all the greed to be first to mine 200 coins per block and if we are to bring out a fc3 tommorow alot of people will mine this in the hope they will get around 3k coins they can sell for a little profit.
yes but i definitely believe he pointed out some valid concerns with this coin and its op.
He got what he wanted didnt he ? He ruined most of this coin... and has its stupid fc2 that people are actually mining.
May 14, 2013, 04:59:31 PM
how did this fail i don't have the nerve to read through 70 posts lol
Just trash talk, but it may fail.
A lot of people are upset over shenanigans surrounding the release, it remains to be seen if enough people will mine it to ever reach a difficulty of 24.
Apparently, that's where the "elastic" nature of the block reward system will take effect.
Hazardcoin is doing well, so we'll see.
FC2 is doing well. Another by hazard
https://bitcointalk.org/index.php?topic=205243.new#new
Hazard is an ass.. he is talking shit about every altcoin ... but his own are just plain copy's and then he start with his copycoin as a joke but pushes it true and hopes people will actually start mining it and then he profits....
And people actually do this because of all the greed to be first to mine 200 coins per block and if we are to bring out a fc3 tommorow alot of people will mine this in the hope they will get around 3k coins they can sell for a little profit.
yes but i definitely believe he pointed out some valid concerns with this coin and its op.
May 14, 2013, 04:57:57 PM
how did this fail i don't have the nerve to read through 70 posts lol
Just trash talk, but it may fail.
A lot of people are upset over shenanigans surrounding the release, it remains to be seen if enough people will mine it to ever reach a difficulty of 24.
Apparently, that's where the "elastic" nature of the block reward system will take effect.
Hazardcoin is doing well, so we'll see.
FC2 is doing well. Another by hazard
https://bitcointalk.org/index.php?topic=205243.new#new
Hazard is an ass.. he is talking shit about every altcoin ... but his own are just plain copy's and then he start with his copycoin as a joke but pushes it true and hopes people will actually start mining it and then he profits....
And people actually do this because of all the greed to be first to mine 200 coins per block and if we are to bring out a fc3 tommorow alot of people will mine this in the hope they will get around 3k coins they can sell for a little profit.
I bet he premined the shit out of his joke fc2 but now that people are actually so stupid to mine it he will profit.
His tactic is :
Copy a coin rename it and release it as a joke !
Then whine in other threads and post his thread about his coin.
People mine his coin
hazard profits
May 14, 2013, 04:56:56 PM
Lots of trolling some guys fell into the prerelease knock of of the chain and are mad they didnt make millions. Which this coin is specifically meant to prevent as it adapts to the power of the network to reward latecomers it is flexible after all. I think the coin is doing well checkout http://www.elacoinpool.com hashrate still going strong at 167.25Mhs.
May 14, 2013, 04:53:48 PM
how did this fail i don't have the nerve to read through 70 posts lol
Just trash talk, but it may fail.
A lot of people are upset over shenanigans surrounding the release, it remains to be seen if enough people will mine it to ever reach a difficulty of 24.
Apparently, that's where the "elastic" nature of the block reward system will take effect.
Hazardcoin is doing well, so we'll see.
FC2 is doing well. Another by hazard
https://bitcointalk.org/index.php?topic=205243.new#new
May 14, 2013, 04:51:14 PM
how did this fail i don't have the nerve to read through 70 posts lol
Just trash talk, but it may fail.
A lot of people are upset over shenanigans surrounding the release, it remains to be seen if enough people will mine it to ever reach a difficulty of 24.
Apparently, that's where the "elastic" nature of the block reward system will take effect.
Hazardcoin is doing well, so we'll see.
May 14, 2013, 04:39:17 PM
yeah I heard it goes to 2 coins at 24 diff
Oh yeah this is gonna play out brilliantly. I don't see people wasting that much money on power to get this failcoin to a whopping 2x reward.
how did this fail i don't have the nerve to read through 70 posts lol
May 14, 2013, 04:32:25 PM
yeah I heard it goes to 2 coins at 24 diff
Oh yeah this is gonna play out brilliantly. I don't see people wasting that much money on power to get this failcoin to a whopping 2x reward.
int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));
from 0 to 24 diff its 1 coin, then 2 at 24. from then on however, its a linear scaling. at 48 its 3 and so on.
so til diff 24, starting at a low diff of 0.002 whateveritwas yes, it looks like an exponential drop in reward.
after 24 it's linear.
Anyone notice that the nSubsidy will NOT be halved after each 194400 blocks as claimed in the first page, according to the equation
int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));
?
nSubsidy will decrease linearly along time, NOT exponentially as claimed. So it will have huge inflation later on if Moore did the right math. Is that it?
If this coin is the one. We should mine it later not now right?
Correct me if I am wrong.
I can't correct you and i have no idea what's in COIN or how nheight is set.
Wait so ~10m diff (bitcoin) = ~416667ELC block reward ( = 25 bitcoin block reward)?
OMG does it make fireworks on the monitor when you find a block, too?
I guess it remains to be seen how the halving will affect it, along the way.
This coin could have an interesting life. If it can hang on.
yes, you are right. if a scrypt coin got to 10M diff, then it'd be some kinda insanitypiecoin. i think the entire world economy would
be running on it (if we assume the size of a market is related to the hashing power) - btc is $1.2Bil markcap, so we're talking 1000x scrypt:SHA256, so a $1.2Tril market.
maybe ELC rewards should be worth something then, i have no idea. (it might not be deflationary! careful!)
I'm not so sure about how hash power might relate to market cap in that sort of economy.
With a coin like this, if it's linear then once we see over 24 diff it should change pretty rapidly with up/down swings in difficulty, right? Definitely elastic.
May 14, 2013, 04:28:18 PM
whats going rate for 1 elc to ltc?
May 14, 2013, 04:23:47 PM
Wait so ~10m diff (bitcoin) = ~416667ELC block reward ( = 25 bitcoin block reward)?
OMG does it make fireworks on the monitor when you find a block, too?
I guess it remains to be seen how the halving will affect it, along the way.
This coin could have an interesting life. If it can hang on.
yes, you are right. if a scrypt coin got to 10M diff, then it'd be some kinda insanitypiecoin. i think the entire world economy would
be running on it (if we assume the size of a market is related to the hashing power) - btc is $1.2Bil markcap, so we're talking 1000x scrypt:SHA256, so a $1.2Tril market.
maybe ELC rewards should be worth something then, i have no idea. (it might not be deflationary! careful!)
May 14, 2013, 04:17:44 PM
yeah I heard it goes to 2 coins at 24 diff
Oh yeah this is gonna play out brilliantly. I don't see people wasting that much money on power to get this failcoin to a whopping 2x reward.
int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));
from 0 to 24 diff its 1 coin, then 2 at 24. from then on however, its a linear scaling. at 48 its 3 and so on.
so til diff 24, starting at a low diff of 0.002 whateveritwas yes, it looks like an exponential drop in reward.
after 24 it's linear.
Anyone notice that the nSubsidy will NOT be halved after each 194400 blocks as claimed in the first page, according to the equation
int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));
?
nSubsidy will decrease linearly along time, NOT exponentially as claimed. So it will have huge inflation later on if Moore did the right math. Is that it?
If this coin is the one. We should mine it later not now right?
Correct me if I am wrong.
May 14, 2013, 04:10:57 PM
wheres the link again, sorry i lost it :/
May 14, 2013, 04:06:52 PM
Google Docs.
FYI I'm selling 92 @ 5.5 LTC, get it before it's gone
FYI I'm selling 92 @ 5.5 LTC, get it before it's gone
May 14, 2013, 04:05:44 PM
where is this stuff getting traded?
May 14, 2013, 03:54:27 PM
screenshots please 
(and text version as well)
(and text version as well)
Here's my first block.
16:47:48
gettransaction a0d094daae15b3111c9d8d5b248968b376d2a4a6fe97f742f941653666473889
16:47:48
{
"amount" : 1.00000000,
"confirmations" : 14997,
"blockhash" : "504bbaa5d627d9ae544ae0fccffa08037b8fc78e583e985a6c5b4003b8d98a4f",
"blockindex" : 0,
"txid" : "a0d094daae15b3111c9d8d5b248968b376d2a4a6fe97f742f941653666473889",
"time" : 1368518739,
"comment" : "",
"message" : "",
"to" : "",
"details" : [
{
"account" : "",
"category" : "generate",
"amount" : 1.00000000
}
]
}
http://www.freeimagehosting.net/vamcy
http://www.freeimagehosting.net/gw3db
I guess I got lucky with which chain I was on. But I also have 600 orphans...
May 14, 2013, 03:46:34 PM
Still mining happy as can be on http://elacoinpool.com people are really still complaining that they lost a couple coins early on in the opening hours? What is this Black Sunday at Walmart? This is a quality limited coin that actually adjusts and does some pretty interesting things. Unlike the others mining it early got you nowhere as by design. So if you join in now you are still in the fight.
May 14, 2013, 03:40:18 PM
Just pulled in the newest source from github and compiled.
My config looks something like:
My config looks something like:
Quote
rpcuser=rpcuser
rpcpassword=PASSWORD
rpcallowip=127.0.0.1
rpcport=10449
daemon=1
server=1
gen=0
addnode=199.204.38.220
addnode=96.126.118.229
rpcpassword=PASSWORD
rpcallowip=127.0.0.1
rpcport=10449
daemon=1
server=1
gen=0
addnode=199.204.38.220
addnode=96.126.118.229
No one bother using 199.204.38.220 as a seed node when setting up your Elacoin client config. I have removed Elacoin from my servers due to Milkshake hard forking the block chain (twice).
May 14, 2013, 03:38:42 PM
screenshots please
(and text version as well)
(and text version as well)
May 14, 2013, 03:33:38 PM
yeah I heard it goes to 2 coins at 24 diff
Oh yeah this is gonna play out brilliantly. I don't see people wasting that much money on power to get this failcoin to a whopping 2x reward.
int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));
from 0 to 24 diff its 1 coin, then 2 at 24. from then on however, its a linear scaling. at 48 its 3 and so on.
so til diff 24, starting at a low diff of 0.002 whateveritwas yes, it looks like an exponential drop in reward.
after 24 it's linear.
48 = 3, 72 = 4, 96 = 5, etc. (the +1 skews it a bit, but that will be less and less of a factor as time goes on).
CNC is already diff 41, ELA @this reward would be 2.
FTC 181, would be 8
LTC 605, would be 26
considering that it started at value of 1 per block, lets pretend it was like BTC and had 50 and redo the calcs above so you arent fooled by the 1:50 ratios (ie ELC is a high value coin, which people cant wrap their heads around, and i guarantee itll trade along side BBQ for a while. time for you to make some profit kids!)
@41, w/50 block equiv reward this would be 100 coins
@181, 200.
@605, 1300.
course i havent done the math to see how difficulty could get that high without tripping the block halving along the way (maybe a couple times), but you get the idea.
hopefully it will trade like its 20, 25 or 50 coins/block. the market should adjust it's valuation just fine, only thing is coin has to survive.
someone feel to setup a googdoc sheet to show the actual payout with halving epochs.
this is all basic math.
so no one mine it at all so it never hits 24 or it will suddenly look attractive! quick, stop mining!
Wait so ~10m diff (bitcoin) = ~416667ELC block reward ( = 25 bitcoin block reward)?
OMG does it make fireworks on the monitor when you find a block, too?
I guess it remains to be seen how the halving will affect it, along the way.
This coin could have an interesting life. If it can hang on.
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