Topic: [ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine - page 88. (Read 133939 times)
May 13, 2013, 05:53:52 PM
When will the windows client be released?
May 13, 2013, 05:50:55 PM
So is this 'elastic block' stuff a bullshit marketing gimmick or is it actually different from Litecoin, Terracoin etc
Did you read any of the thread? The block reward is based on network difficulty
Also, it's being put out ahead of time, with a scheduled launch date and supposedly no premining(although you can't really tell that until you look at the chain on day 1), so that's a novel new approach compared to the rush of new coins that have been announced ten minutes after the genesis block is mined.
May 13, 2013, 05:44:35 PM
So is this 'elastic block' stuff a bullshit marketing gimmick or is it actually different from Litecoin, Terracoin etc
May 13, 2013, 05:43:46 PM
I'd like to know if it is normal that I get this error message:
elacoind: main.cpp:2078: bool LoadBlockIndex(bool): Assertion `block.hashMerkleRoot == uint256("0x97ddfbbae6be97fd6cdf3e7ca13232a3afff2353e29badfab7f73011edd4ced9")' failed.
Do I have to start the daemon only AFTER the genesis block is released?
elacoind: main.cpp:2078: bool LoadBlockIndex(bool): Assertion `block.hashMerkleRoot == uint256("0x97ddfbbae6be97fd6cdf3e7ca13232a3afff2353e29badfab7f73011edd4ced9")' failed.
Do I have to start the daemon only AFTER the genesis block is released?
May 13, 2013, 05:37:18 PM
What time this coin starts in German Time ?
I dont know the time zone of Bitcointalk
I dont know the time zone of Bitcointalk
07:59:27
You can set your time zone in Profile settings (Look and Layout Preferences).
Set the timeoffset to 2 (Current forum time: 13-05-2013, 21:38:23 = GMT => you need GMT+2 [one zone to east + summer time])
May 13, 2013, 05:34:32 PM
What time this coin starts in German Time ?
I dont know the time zone of Bitcointalk
I dont know the time zone of Bitcointalk
May 13, 2013, 05:00:56 PM
So many coins.
Yeah, it's almost as if people are, rather than waiting for permission do try something, just, you know. Trying it.
May 13, 2013, 04:58:16 PM
So many coins.
May 13, 2013, 04:46:42 PM
so what are the STRETCHgoals for this coin? Get it? HAH! 
looking forward to it
looking forward to it
Stretching all the way to the floor of 0.000000000001 BTC/ELC?
May 13, 2013, 04:43:05 PM
so what are the STRETCHgoals for this coin? Get it? HAH!
looking forward to it
looking forward to it
Shh. When Elacoin crashes, THAT is when we step out of the shadows with Prolapse-coin! Not before.
May 13, 2013, 04:37:46 PM
so what are the STRETCHgoals for this coin? Get it? HAH!
looking forward to it
looking forward to it
May 13, 2013, 04:37:19 PM
What's the default port going to be for this coin?
rpcport=9222
port=9223
Or at least those are the defaults in the current version on github.
May 13, 2013, 04:32:07 PM
Elastic block reward algorithm based on the difficulty and Moore's Law
The more computational power you throw at it, the more each block will give.
The reward is halved every nine months to preserve the coin's value.
The more computational power you throw at it, the more each block will give.
The reward is halved every nine months to preserve the coin's value.
Please correct me if I'm mistaken.
Why would that be a good idea at all? Why would an investor want to hold a coin that increases its money supply as soon as the price rises? In other words, if the price goes up, throw more miners at the coin and dump on the investors buying...
Here is what I think will happen:
- there is an ELC price P (varying over time) where mining ELC is as profitable as e.g. LTC
- assuming a constant LTC price, P decreases as LTC's difficulty rises and vice versa
- if the ELC price rises much above P a lot of hashpower moves to ELC. LTC's difficulty decreases and hence P increases until the equilibrium is found again
This happens with all altcoins. However, ELC reaches the equilibrium to LTC not by increasing its own difficulty, but by printing more coins and driving the price down:
- the increased hashpower in ELC also increases coin generation rate quickly
- the newly created coins drive the price down to the point where mining ELC is as profitable as LTC
- ELC's price therefore will never rise consistently above P
Now let's assume there is no other altcoin like LTC. In that case any price increase of ELC will quickly be sold off by an increase in coin generation. ELC can never rise above the point where mining it is profitable.
Why would an investor buy ELC again? Sorry, I can't see it at all.
May 13, 2013, 04:12:43 PM
Thanks for confirming, guys.
May 13, 2013, 04:09:33 PM
Scrypt as in litecoin and others or as in YAC's scrypt-jane?
scrypt as in all the other scamcoins, so be prepared to dump your elas fast.
May 13, 2013, 04:07:43 PM
Noticed I made a typo naming the coin on my pool ha! http://eLc.hackshardgaming.net is now up. waiting on the software. Preregister now for your spot! I'm going to shutoff registration as soon as the coins released for about 5 hours.
What is the port going to be for the elacoin pool? Signed up, but everything seems to still say PWC or whatever and it seems like the mining links you have for elacoin are the same as the pwc ones, still
May 13, 2013, 04:07:10 PM
Scrypt as in litecoin and others or as in YAC's scrypt-jane?
Scrypt as in litecoin and others
May 13, 2013, 04:05:51 PM
Scrypt as in litecoin and others or as in YAC's scrypt-jane?
May 13, 2013, 04:03:53 PM
May 13, 2013, 04:03:20 PM
So for $1,000 I can spin up a few hundred amazon, rackspace and azure instances for two hours and slam the brand new blockchain? FUn Fun.
Do it faggot.jpg Jump to: