[ANN] Hayekcoin | The First Proof of Luck Distribution | Crosschain Issue - page 8.

hayekcoin

newbie

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Quote from: snortex on June 01, 2015, 11:15:28 PM

Good idea, but the concept is wrong I believe (or I do not understand)
I need Dogecoins to gamble and I will get a reward from gambling in Dogecoins and/or Hayekcoin.
So why should I buy Hayekcoin? What will create value for this coin?
I supposed I should buy Hayekcoin to gamble, but this is not the case as I see, so people will only sell this coin with very low buy support.

good question!
so what create value for bitcoin?
the value of bitcoin come from the amount of people who use bitcoin. Similarily，the value of hayekcoin come from the amount of people who bet dogecoin for it. every Hayekcoin have to pay something.The more people hold hayekcoin,the more value will be .After the POL stage an exchange is needed. Our goal is to make the hayekcoin be an bonus pool backed coin , and make its price gradully increase to a ideal level.
why should you buy Hayekcoin?
becuse the price of Hayekcoin will rise.

BillyBones

full member

Activity: 168

Merit: 100

Yeah
Looks interesting.

How many coins will be in total? (cca)

hayekcoin

newbie

Activity: 52

Merit: 0

Quote from: kevin1234a on June 01, 2015, 11:04:13 PM

Quote from: hayekcoin on June 01, 2015, 10:00:27 PM

Quote from: limar on June 01, 2015, 09:32:19 PM

so pretty much it would be gamble if hash get match or not and if it does match what will be the reward ? apology for the tech terms which you used can you explain in easy like 1 match = 1000 hayek

Quote

POL Stage:
If $i=1: Input*8 Dogecoins
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
but restrict to 40 Million max.
Thus its better send no more than 200 thousands dogecoins per tx to bet when at POL stage
Advised input is 1000 Doge to200000 Doge
Post POL Stage Your reward:
If $i=1: Input*5 Dogecoins (This level decreased )
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
If $i=4: Input*1000 Dogecoins (New high level)
If $i=5: Input*10000 Dogecoins (New super level)
If $i=6: Input*100000 Dogecoins (New TOP level)

hayekcoin will calculate the collisiong by compare the md5 hash of the txid generated by you and md5 hash of blockhash generated by miners. If left(md5(txhash),$i)= left(md5(blockhash),$i),($i>0) you will get more dogecoins than your input the bigger $i is the more dogecoins you will have.
simply，if you send 1 dogecoin to the betting dogecoin addtress
1 match= 2 dogecoins
2 match= 40 dogecoins
3 match= 200 dogecoins
if no match you will get the same betted doegcoin numbers of hayekcoin at POL stage.
4 match=1000 dogecoins (post POL stage)
5 match=10000 dogecoins (post POL stage)
6 match=100000 dogecoins (post POL stage)

so each 1000 doge sent will get how many chances to match is it going to be one time only or it keep getting matched for multiple times

in theory, the first character of md5(txhash) same to that of the md5 of blockhash probability is 1/16, the first and second same probability is 1/256, so on the probability of collisions n characters is (1/16) ^ n

snortex

hero member

Activity: 814

Merit: 1001

Good idea, but the concept is wrong I believe (or I do not understand)
I need Dogecoins to gamble and I will get a reward from gambling in Dogecoins and/or Hayekcoin.
So why should I buy Hayekcoin? What will create value for this coin?
I supposed I should buy Hayekcoin to gamble, but this is not the case as I see, so people will only sell this coin with very low buy support.

kevin1234a

legendary

Activity: 1162

Merit: 1000

Decentralizing Jesus on the Blockchain

Quote from: hayekcoin on June 01, 2015, 10:00:27 PM

Quote from: limar on June 01, 2015, 09:32:19 PM

so pretty much it would be gamble if hash get match or not and if it does match what will be the reward ? apology for the tech terms which you used can you explain in easy like 1 match = 1000 hayek

Quote

POL Stage:
If $i=1: Input*8 Dogecoins
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
but restrict to 40 Million max.
Thus its better send no more than 200 thousands dogecoins per tx to bet when at POL stage
Advised input is 1000 Doge to200000 Doge
Post POL Stage Your reward:
If $i=1: Input*5 Dogecoins (This level decreased )
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
If $i=4: Input*1000 Dogecoins (New high level)
If $i=5: Input*10000 Dogecoins (New super level)
If $i=6: Input*100000 Dogecoins (New TOP level)

hayekcoin will calculate the collisiong by compare the md5 hash of the txid generated by you and md5 hash of blockhash generated by miners. If left(md5(txhash),$i)= left(md5(blockhash),$i),($i>0) you will get more dogecoins than your input the bigger $i is the more dogecoins you will have.
simply，if you send 1 dogecoin to the betting dogecoin addtress
1 match= 2 dogecoins
2 match= 40 dogecoins
3 match= 200 dogecoins
if no match you will get the same betted doegcoin numbers of hayekcoin at POL stage.
4 match=1000 dogecoins (post POL stage)
5 match=10000 dogecoins (post POL stage)
6 match=100000 dogecoins (post POL stage)

so each 1000 doge sent will get how many chances to match is it going to be one time only or it keep getting matched for multiple times

hayekcoin

newbie

Activity: 52

Merit: 0

Quote from: asuryan180 on June 01, 2015, 09:50:00 PM

Interesting idea but you cant program in the randomness, so POL may not be right for this coin but I am intrigued. I'll be watching.

the randomness was based on hash collision. We know, different string have different hash. But if you lucky enough you may find two different text string have same the hash string. This was a collision. It is very difficult to find two different string have absolute same hash. Based on this, we designed the blockchain based betting. POL is used for hayekcoin distribution,Because blockchain can't fake so that guarantee fairness in distribution.if there was no collision you will get the same betted doegcoin numbers of hayekcoin at POL stage. if you want get more hayek, the earlier you bet the better.

hayekcoin

newbie

Activity: 52

Merit: 0

Quote from: limar on June 01, 2015, 09:32:19 PM

so pretty much it would be gamble if hash get match or not and if it does match what will be the reward ? apology for the tech terms which you used can you explain in easy like 1 match = 1000 hayek

Quote

POL Stage:
If $i=1: Input*8 Dogecoins
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
but restrict to 40 Million max.
Thus its better send no more than 200 thousands dogecoins per tx to bet when at POL stage
Advised input is 1000 Doge to200000 Doge
Post POL Stage Your reward:
If $i=1: Input*5 Dogecoins (This level decreased )
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
If $i=4: Input*1000 Dogecoins (New high level)
If $i=5: Input*10000 Dogecoins (New super level)
If $i=6: Input*100000 Dogecoins (New TOP level)

hayekcoin will calculate the collisiong by compare the md5 hash of the txid generated by you and md5 hash of blockhash generated by miners. If left(md5(txhash),$i)= left(md5(blockhash),$i),($i>0) you will get more dogecoins than your input the bigger $i is the more dogecoins you will have.
simply，if you send 1 dogecoin to the betting dogecoin addtress
1 match= 8 dogecoins
2 match= 40 dogecoins
3 match= 200 dogecoins
if no match you will get the same betted doegcoin numbers of hayekcoin at POL stage.
4 match=1000 dogecoins (post POL stage)
5 match=10000 dogecoins (post POL stage)
6 match=100000 dogecoins (post POL stage)

asuryan180

hero member

Activity: 868

Merit: 1000

Interesting idea but you cant program in the randomness, so POL may not be right for this coin but I am intrigued. I'll be watching.

hayekcoin

newbie

Activity: 52

Merit: 0

Quote from: iqlimasyadiqa on June 01, 2015, 09:21:40 PM

Dev , Please check PM . thanks

thank you for you professional translation, I have updated the topic. we will pay you in 10000 hayekcoin after launch. when the launch time comes leave your hayekcoin address!

zerocashdev

full member

Activity: 392

Merit: 100

Quote from: HayekPay on May 31, 2015, 02:14:18 PM

Quote from: mind808crime on May 31, 2015, 01:41:09 PM

pool?

This Coin is mined by hash collision in dogecoin blockchain, no CPU, GPU or ASIC is needed for mining. We will release a dogecoin block id,
after this block, every body can mine by send coins to a specific address for bet, once collision occur you will get you dogecoins and hayek back to your wallet.

This coin process is pretty cool. I will be following and partaking once the countdown is done.

limar

member

Activity: 84

Merit: 10

so pretty much it would be gamble if hash get match or not and if it does match what will be the reward ? apology for the tech terms which you used can you explain in easy like 1 match = 1000 hayek

Quote

POL Stage:
If $i=1: Input*8 Dogecoins
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
but restrict to 40 Million max.
Thus its better send no more than 200 thousands dogecoins per tx to bet when at POL stage
Advised input is 1000 Doge to200000 Doge
Post POL Stage Your reward:
If $i=1: Input*5 Dogecoins (This level decreased )
If $i=2: Input*40 Dogecoins
If $i=3: Input*200 Dogecoins
If $i=4: Input*1000 Dogecoins (New high level)
If $i=5: Input*10000 Dogecoins (New super level)
If $i=6: Input*100000 Dogecoins (New TOP level)

iqlimasyadiqa

legendary

Activity: 1596

Merit: 1011

Dev , Please check PM . thanks

zxbball

sr. member

Activity: 311

Merit: 250

i made a simplified chinese translation,BTT链接https://bitcointalksearch.org/topic/hayekcoin-proof-of-luck-1076976
巴比特链接http://8btc.com/thread-19404-1-1.html

hayekcoin

newbie

Activity: 52

Merit: 0

This Coin is mined by hash collision in dogecoin blockchain, no CPU, GPU or ASIC is needed for mining, no pool.

yaoxin

full member

Activity: 238

Merit: 100

Prereg. for pool?

hayekcoin

newbie

Activity: 52

Merit: 0

Quote from: ?? on ??

Quote from: diks on June 01, 2015, 10:33:55 AM

waiting launch

for a long time to wait

for a short time to wait , as soon as you synchronize your dogecoin wallet,it will launch.

hayekcoin

newbie

Activity: 52

Merit: 0

Quote from: nChristos on June 01, 2015, 10:40:58 AM

Hello! i am new with bitcoin and other cryptocurencys!
So i have hear that will realles new Hayek coin!
When i can start mine this?
And what with dogecoin? If i buy dogecoin i can exghange them for Hayek or what?
Thanks in advance!

you can participate in betting with the dogecoin, you will get hayekcoin,but make sure using your owen wallet,coins from exchange will make you lost all you dogecoins and get no hayek.

goodguyed

sr. member

Activity: 388

Merit: 250

Twitter: @goodguyed

The gamble is on.

Will likely throw a little at it and see what happens.

tiggytomb

legendary

Activity: 1848

Merit: 1000

Interesting concept, might try my luck

nChristos

newbie

Activity: 1

Merit: 0

Hello! i am new with bitcoin and other cryptocurencys!
So i have hear that will realles new Hayek coin!
When i can start mine this?
And what with dogecoin? If i buy dogecoin i can exghange them for Hayek or what?
Thanks in advance!

Topic: [ANN] Hayekcoin | The First Proof of Luck Distribution | Crosschain Issue - page 8. (Read 8930 times)