[ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine - page 92.

Taxidermista

legendary

Activity: 1148

Merit: 1001

Quote from: Milkshake on May 13, 2013, 08:11:21 AM

Quote from: Lollaskates on May 13, 2013, 08:10:54 AM

You'd really be better off marking a set time in GMT when the release is happening rather than a 24-hour window of F5 the page. Especially if the code is completed and you're just waiting.

05:59:27 AM forum time

And what is the forum time? Because my forum time it's not your forum time.

bitdwarf

sr. member

Activity: 406

Merit: 250

The cryptocoin watcher

Quote from: Milkshake on May 13, 2013, 03:31:52 AM

How do I build bitcoin-qt for Windows on Ubuntu? Is there a step by step guide?

I've installed mingw32, https://github.com/bitcoin/bitcoin/blob/master/doc/readme-qt.rst includes no instructions for Windows.

These things need to be learned before launching, not after. People will wonder how much thought was actually put in this.

Sawtoothsquid

newbie

Activity: 14

Merit: 0

And specified time for launch?
Wondering if there is time for a nap before I get mining.

Milkshake

member

Activity: 98

Merit: 10

Milkshake

Quote from: muddafudda on May 13, 2013, 08:23:37 AM

And there will be a compiled windows launcher link? Huh

?

I'm working on a Windows binary ready for launch. If anyone would like to help out with the tricky compiling part, please send me a PM.

Sawtoothsquid

newbie

Activity: 14

Merit: 0

+1 for Windows launcher.

muddafudda

legendary

Activity: 1008

Merit: 1022

And there will be a compiled windows launcher link? Huh

?

nocoin

full member

Activity: 168

Merit: 100

Quote from: Milkshake on May 13, 2013, 08:02:26 AM

It has already being fixed, but you know, the coin hasn't launched so I'm not pushing the changes out? Cheesy

Oh, c'mon, at least share the difficulty! 1? 5? 25?
Also, don't forget to set up some nodes and post their IP, so we can "-addnode" them.

Milkshake

member

Activity: 98

Merit: 10

Milkshake

Quote from: Lollaskates on May 13, 2013, 08:10:54 AM

You'd really be better off marking a set time in GMT when the release is happening rather than a 24-hour window of F5 the page. Especially if the code is completed and you're just waiting.

05:59:27 AM forum time

Lollaskates

sr. member

Activity: 249

Merit: 250

You'd really be better off marking a set time in GMT when the release is happening rather than a 24-hour window of F5 the page. Especially if the code is completed and you're just waiting.

zhuhaifeng

newbie

Activity: 28

Merit: 0

I very much hope to develop a neither monetary quantity is limited, and no difficulty of the new currency, value can be unlimited creation, rather than being limited to a fixed number of. With the passage of time, slowly growing amount of money, it is only fair currency.

Otherwise, just like other virtual currencies, dig into some difficulty will abandon, no value. Avoid virtual currency because of difficulty and abandoned by people, then the resulting monetary value depreciation of this kind of thing. I want someone to understand me.

Decentralized monetary center idea is good, but no monetary reins like no carriage, not know what will happen, so, can adjust, virtual currency adjustment, in order to win the final victory, speculators, and the recognition of the public.

Devianttwo

sr. member

Activity: 294

Merit: 250

LOL I thought I was the only person that found the github. Oh well. lol I already have it compiled on my server box but I'll be updating it when its updated Tongue

Devianttwo

sr. member

Activity: 294

Merit: 250

Quote from: Milkshake on May 13, 2013, 07:35:04 AM

Quote from: Boba on May 13, 2013, 07:18:00 AM

If in the future there is a breakthrough in computing so that hash power increase 100 fold, will this create hyperinflation of elacoin? Or is there a cap on the block reward?

By then, mining would have effectively stopped - 100 fold of computational power would still mean 0.05 ELC per block or so.

0.5^13 (about 12 years) = 0.0001 multiplier.

Quote from: Devianttwo on May 13, 2013, 07:25:48 AM

Well right now I don't know how I'm going to make the format of how many coins to pay out my people for mining. Maybe you can give me a format to add to the site so people get paid correctly?

You should be able to query the RPC and obtain the block reward. What mining pool software are you using?

We are using mmcfe http://elc.hackshardgaming.net

I tried looking at getmininginfo on powercoin for example and it always tells me currentblocktx = 0. where on bitcoins and litecoins it shows up properly. so not sure how I'm going to get the current block value without manually setting it.

Milkshake

member

Activity: 98

Merit: 10

Milkshake

Quote from: nocoin on May 13, 2013, 07:55:18 AM

https://github.com/elacoin/elacoin/commit/d2a3f1badd6a2ff77583ce573be370bc09572708

Code:

static CBigNum bnProofOfWorkLimit(~uint256(0) >> 20); // Elacoin: starting difficulty is 1 / 2^12

So, are you gonna fix this? Difficulty will be like... 0.0002 at launch.
If yes, what value are you planning to state?
If no... well, good luck as another-premined-coin-all-crying-about Grin

Yes!

It has already being fixed, but you know, the coin hasn't launched so I'm not pushing the changes out? Cheesy

Not only that.. but the block reward is based on the difficulty..

nocoin

full member

Activity: 168

Merit: 100

https://github.com/elacoin/elacoin/commit/d2a3f1badd6a2ff77583ce573be370bc09572708

Code:

static CBigNum bnProofOfWorkLimit(~uint256(0) >> 20); // Elacoin: starting difficulty is 1 / 2^12

So, are you gonna fix this? Difficulty will be like... 0.0002 at launch.
If yes, what value are you planning to state?
If no... well, good luck as another-premined-coin-all-crying-about Grin

e521

full member

Activity: 196

Merit: 100

Quote from: ilostcoins on May 13, 2013, 07:41:41 AM

It allows most of the coins to be generated years or even decades later after (hopefully) the coin has gone mainstream, rather than being too concentrated in the hands of people who join in the early years. At the same time, it still gives early adopters pretty good reward to kickstart the system.

"The reward is halved every nine months to preserve the coin's value."

I think Elasticity tries to reduce the effect but it's not 100% effective

Vilepickle

member

Activity: 76

Merit: 10

I like the adjusting block reward of the coin... the problem with the coins these days seems to be that of stagnation ala Freicoin (not its recent update, but the coin "rape" and then when everyone left the chain it takes months to adjust difficulty back). Since Bitcoin powered through it since it was first, the followups have had problems balancing difficulty and block reward for different network hashrates. This coin doesn't seem to "care" what the hashrate is, and it doesn't give 10 people millions of coins compared to everyone else since they pointed their cannons at it first. Though, the early people still get perks, just not a monopoly.

ilostcoins

sr. member

Activity: 274

Merit: 250

Quote from: Milkshake on May 13, 2013, 06:32:48 AM

...

Pretty clever system, even if I say it myself

Based on what I read from your posts (I'm not going through your code with my layman eyes), it's a clever system indeed.

It allows most of the coins to be generated years or even decades later after (hopefully) the coin has gone mainstream, rather than being too concentrated in the hands of people who join in the early years. At the same time, it still gives early adopters pretty good reward to kickstart the system.

People worried about inflation needn't be. If the block reward scales linearly with total hash rate, it would just indirectly peg the value of the coin to energy cost/hash in the long term. With less than linear scaling and reward down to half every 9 months which is faster than energy cost/hash will come down guessing by Moore's law, the coin's value will be well beyond the electricity cost you put in now IF it ends up being widely adopted. Just don't dream about becoming a billionaire.

Milkshake

member

Activity: 98

Merit: 10

Milkshake

Quote from: Boba on May 13, 2013, 07:18:00 AM

If in the future there is a breakthrough in computing so that hash power increase 100 fold, will this create hyperinflation of elacoin? Or is there a cap on the block reward?

By then, mining would have effectively stopped - 100 fold of computational power would still mean 0.05 ELC per block or so.

0.5^13 (about 12 years) = 0.0001 multiplier.

Quote from: Devianttwo on May 13, 2013, 07:25:48 AM

Well right now I don't know how I'm going to make the format of how many coins to pay out my people for mining. Maybe you can give me a format to add to the site so people get paid correctly?

You should be able to query the RPC and obtain the block reward. What mining pool software are you using?

Devianttwo

sr. member

Activity: 294

Merit: 250

Well right now I don't know how I'm going to make the format of how many coins to pay out my people for mining. Maybe you can give me a format to add to the site so people get paid correctly?

Boba

member

Activity: 101

Merit: 10

If in the future there is a breakthrough in computing so that hash power increase 100 fold, will this create hyperinflation of elacoin? Or is there a cap on the block reward?

Topic: [ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine - page 92. (Read 133952 times)