Topic: [ANN] EternalCoin Launch 1/19/2014 - Scrypt based altcoin (Read 600 times)
how is the mining for ETC doing? anybody still at it?
Eternal Coin
Specifications:
Encryption: Scrypt
Target Block Time: 3 minutes
Difficulty Calculation: every 30 minutes or every 10 blocks
Confirmations: 1 for transaction (allows individuals to use better judgement), 28 for mined block.
Total Number of Coins: 210,000,000
Block Reward: 500 ETC
Block reward will not change.
Pre-Mine: 1,300,000 ETC (600,000 of which, will be awarded through bounties, 50,000 will be given away on launch to 50 people)
Additional Information:
-Give-away is now finished
-All coins will be mined within the first 2 and a half years. After this, we will begin to experiment with the minimum transactions fees.
-A separate thread for bounties will be made and linked in this post
-There are already nominal transaction fees set in place.
Why static block reward?
I believe a difficulty change is one of the best indicators of a crypto-coins worth, this means that early-adopters are not rewarded, instead the individuals with the highest percentage of hashrate at any given time are the ones rewarded. Furthermore, This will show what will happen to bitcoin after all base reward coins are mined, and prove that a crypto coin can be sustained purely on transaction rewards.
Regarding comments and concerns about premine and pump and dump
Now on one hand, if I pre mined nothing I would have no reason to continue to support, develop, and market this coin, If I pre mined too much people would consider it too greedy (I hope I found a middle ground here at ~0.006) - I consider it shares in the company im working to improve. For this reason, it makes little sense for me to dump the coin and continue working on it, the goal for this coin is for it to be proof that the bitcoin system can survive on transaction fees alone. The plan behind it is to have a "pre-launch" phase for roughly 2 and a half years in which all the currency is mined and distributed, once that phase is complete it will become a transaction network so individuals can move value faster than bitcoin. Now regarding a pump-n-dump, I can give a personal guarantee on how much ETC i will spend per year and it will be at 15% for the first two years, and 30% per year moving forward from that, I would be much more inclined to not reach those maximum values however as It would make more sense for me to cash-out at a much later period, but I may use some ETC to pay fees for my VPS, Domain, Etc.
Windows Client Download:
Mirror 1
Mirror 2
Mirror 3 - Thank you Brewins
eternalcoin.conf Download:
Mirror 1
Mirror 2
eternalcoin.conf
Quote
#EternalCoin Config
server=1
rpcport=49883
port=49884
#change these to anything, can just copy later when needed
rpcuser=**YourUsernameHere**
rpcpassword=**YourPasswordHere**
addnode=69.90.132.47
addnode=162.242.156.243
addnode=85.25.146.82
addnode=76.71.156.73
addnode=70.51.155.179
rpcallowip=127.0.0.1
rpcallowip=192.168.*.*
#set this to 0 if you don't want to mine in client
gen=1
#set this to -1 for highest in client mining
genproclimit=1
How To Get Started:
Download the client and extract it to folder of choice
Launch the client, wait until it opens, close it.
Download eternalcoin.conf
Search for %appdata% ( on windows 8 ) and place eternalcoin.conf in your eternalcoin folder inside of your Application Data folder
Relaunch the client, you're good to go.
For Linux Users:
you can find the files at https://github.com/e...eternalcoin.git
If you need help compiling it or run into any issues just drop me a pm and I'll be happy to help.
For Mac Users:
Buy a PC.
But seriously, I do not own a Mac, If someone can do this for me I will pay them a decent amount of ETC or a very small amount of BTC
EternalCoin Services/ Links
Block Crawler
Bounty Thread
Buy/Sell Thread
EternalCoin Pools
Scryptominer's Pool - 2% Pool Fee
Empty42's Pool - 1% Pool Fee
Validation Error's Pool - 1% Pool Fee
icecube45's Pool - 1% Pool Fee
Specifications:
Encryption: Scrypt
Target Block Time: 3 minutes
Difficulty Calculation: every 30 minutes or every 10 blocks
Confirmations: 1 for transaction (allows individuals to use better judgement), 28 for mined block.
Total Number of Coins: 210,000,000
Block Reward: 500 ETC
Block reward will not change.
Pre-Mine: 1,300,000 ETC (600,000 of which, will be awarded through bounties, 50,000 will be given away on launch to 50 people)
Additional Information:
-Give-away is now finished
-All coins will be mined within the first 2 and a half years. After this, we will begin to experiment with the minimum transactions fees.
-A separate thread for bounties will be made and linked in this post
-There are already nominal transaction fees set in place.
Why static block reward?
I believe a difficulty change is one of the best indicators of a crypto-coins worth, this means that early-adopters are not rewarded, instead the individuals with the highest percentage of hashrate at any given time are the ones rewarded. Furthermore, This will show what will happen to bitcoin after all base reward coins are mined, and prove that a crypto coin can be sustained purely on transaction rewards.
Regarding comments and concerns about premine and pump and dump
Now on one hand, if I pre mined nothing I would have no reason to continue to support, develop, and market this coin, If I pre mined too much people would consider it too greedy (I hope I found a middle ground here at ~0.006) - I consider it shares in the company im working to improve. For this reason, it makes little sense for me to dump the coin and continue working on it, the goal for this coin is for it to be proof that the bitcoin system can survive on transaction fees alone. The plan behind it is to have a "pre-launch" phase for roughly 2 and a half years in which all the currency is mined and distributed, once that phase is complete it will become a transaction network so individuals can move value faster than bitcoin. Now regarding a pump-n-dump, I can give a personal guarantee on how much ETC i will spend per year and it will be at 15% for the first two years, and 30% per year moving forward from that, I would be much more inclined to not reach those maximum values however as It would make more sense for me to cash-out at a much later period, but I may use some ETC to pay fees for my VPS, Domain, Etc.
Windows Client Download:
Mirror 1
Mirror 2
Mirror 3 - Thank you Brewins
eternalcoin.conf Download:
Mirror 1
Mirror 2
eternalcoin.conf
Quote
#EternalCoin Config
server=1
rpcport=49883
port=49884
#change these to anything, can just copy later when needed
rpcuser=**YourUsernameHere**
rpcpassword=**YourPasswordHere**
addnode=69.90.132.47
addnode=162.242.156.243
addnode=85.25.146.82
addnode=76.71.156.73
addnode=70.51.155.179
rpcallowip=127.0.0.1
rpcallowip=192.168.*.*
#set this to 0 if you don't want to mine in client
gen=1
#set this to -1 for highest in client mining
genproclimit=1
How To Get Started:
Download the client and extract it to folder of choice
Launch the client, wait until it opens, close it.
Download eternalcoin.conf
Search for %appdata% ( on windows 8 ) and place eternalcoin.conf in your eternalcoin folder inside of your Application Data folder
Relaunch the client, you're good to go.
For Linux Users:
you can find the files at https://github.com/e...eternalcoin.git
If you need help compiling it or run into any issues just drop me a pm and I'll be happy to help.
For Mac Users:
Buy a PC.
But seriously, I do not own a Mac, If someone can do this for me I will pay them a decent amount of ETC or a very small amount of BTC
EternalCoin Services/ Links
Block Crawler
Bounty Thread
Buy/Sell Thread
EternalCoin Pools
Scryptominer's Pool - 2% Pool Fee
Empty42's Pool - 1% Pool Fee
Validation Error's Pool - 1% Pool Fee
icecube45's Pool - 1% Pool Fee
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