Topic: [ANN] Mjollnircoin - MNR - Ultra-secure, Fast Transactions & ASIC resistant - page 6. (Read 80223 times)

That would be awesome.  We definitely need to get non-English speakers on board:)

CEST is 6 hours ahead of you (EST) because it's one hour ahead of me (UK time).



I think this is probably a better idea until we have more members of the team to help Brokkir out (then we can look at implementing deadlines).  Also even then the deadlines should be estimates not set in stone.

Also forgot to mention I'm pretty much free most evenings at the moment (UK time).  So am happy to go with whatever time everyone else agrees on.  The other thing is guys I have a tendency to be a bit dominating in messages etc so if you feel I'm being too forceful or dominating just tell me - sometimes I don't realise:)

I would like to help MNR with Spanish spoken markets and countries. I'm from Argentina so I can very easy spread every new announcement, tools, developments or whatever happens on MNR world

I think the only thing we need to do is decide which items should be say top 2 or 3 items.  Decide what item is #1 and if you have the ability work on it (or anyone else volunteering to do some programming).
I think the most we should ask of you is how much of the implementation you have done which is SWAG.

For example if mobile wallet was selected number one and we decided it should be android first then the most we should ask if a rough completion status.  Could be 20% this week, 35% next week. Nothing the week after as you have other then in life to deal with. Maybe 50% the week after that...

No timelines per say. Just realistic progress is all anyone needs to know. Not how much time is being put in per day/week. This isn't a paid job and you have no obligation to take on anything more then keeping the coin rolling and working as designed!

From IRC all we need to do is have a good talk to define important things that should/could get done.  Narrow it down to a few and pick the top 2 or 3 we as the community would prefer.  You then pick/choose from the top selected based on your own criteria of (comfortability, knowledge, how long it might take, etc).

I get screwed up everything time I try and do CEST times.  What would that be EST? (NY time)?

Carlo

Also in relation to something like the above it might be useful to get the opinion of someone like Bryce Weiner.

The smaller the user base is the easier it is to implement.  The handful of people who are mining it now can't sustain this coin.  Full POS is the simplest solution and now would be the right time to do it before the coin gets any bigger.


I would call this a Price Based Rewards System (PBR).

You would collate data from more than one exchange like CoinMarketCap does. So there would be no central authority.  You would propagate the value through the blockchain in the same way that solved blocks are agreed on and transmitted.  Whoever calculates the value of x (with x being the mean exchange value) first has the value to use for calculation of the next block and so on.  

Note: I'm thinking here from a mathematical standpoint.  As I've said before my training is basic sciences and not programming, so whilst I understand mathematical and cryptographic principles I don't know how to translate that into computer language or code or indeed how much work it entails.  From a human standpoint it is pretty simple but I suspect it is more complicated getting a computer to do it all.

Also you don't need a block reward of 0, 1 might be low enough.  I think this is something that would need refinement over time (I don't think testing in private would give enough data) but starting with something like a range of 1-50 would be acceptable.  

The more difficult (though not too difficult) issue would be creating a formula to calculate the adjustment.   Now this would probably be more easy to program, the hard part is coming up with an algorithm that is fair and effective.  This would probably be another situation where actual use in the real world would provide data for further refinement.

The basic methods I was thinking of was to either use an absolute value based system (which would be much easier to implement) vs. a rate of change or gradient based system which would be slightly more complicated requiring a calculation from a certain number of previous values of x.  

The absolute system would require more assumptions with for example predicted values for the price of MNR at certain stages and how close the current value of x was to it.  This value would also need to be periodically reviewed to account for market conditions etc.  The other point to consider would be that the system would be designed to restrict downward pressure on price and not upward pressure, although some mild restriction of upward pressure might reduce the effect of deliberate pumps and this could be added at a later stage.

Like I said solution 2 (PBR) is a lot more ambitious, complicated, difficult to implement, and most importantly unproven when compared to the POS only w. Multipool method.

Note that PBR could also be implemented to calculate interest for POS too.

I think that Hybrid PoS / PoW has some support, but changing to full PoS seems to be too radical a change (in this small user-base)

At first sight I like your new idea for a variable block reward system that is tied to the exchange rate. But it raises some questions;
How exactly would the clients agree on the exchange rate in order to calculate the block-reward and can we allow a block reward value of 0 ?
It maybe possible by looking at the historical data, so all clients can 'read' the exchange rate periodically, at a constant frequency.

But it seems this requires some kind of central authority; In this case the exchange platform that relays us the exchange rate ... Mjollnircoin would have to believe this exchange rate at face value and trust the exchange not to manipulate the coin (which can be a symbiotic relationship)

If there is a problem that the market is getting too flooded, we can review the planned block reduction and introduce it earlier as an alternative too (increasing the time that mjollnircon mines out)

You are not wrong technically but running a Multipool and POW simultaneously is counterproductive.  That's why it hasn't been done.  There are lot's of reasons for this and I'm sure I can't cover all of them but it will cause confusion as to how people should mine whether direct or via the MP.  It will also lead to wild swings in difficulty and hashrate as people switch between the two methods depending on which provides more coins.  Whilst overall it may eventually stabilise the amount of confusion caused will likely harm MNR.  There is also the fact that continuing POW will psychologically give the impression of coins flooding the market.


I still do not understand this major attachment to POW/direct mining of MNR.  I understand you like the HEFTY algorithm but it's not worth throwing everything else away over.  Most multipools run other algorithms such as X11 which also have low power use.  Those that want to mine can still mine via a multipool.  Those that want to buy can still buy.  The coin total doesn't need to change.  All you are doing is changing the way new coins are added and creating buy support with a multipool.

However, if everyone is wedded to the idea of proof of work, another idea might be to alter the block rewards system to dynamically adjust according to the value of MNR.  For example using the rate of change downwards to choke coin supply and prevent the market being flooded with cheap coins.  This would be a very bold move and would instantly attract the interest of investors which is also important in the short to medium term for a currency.

I have drafted an Agenda for IRC http://www.heypasteit.com/clip/1FGE

If possible on such short notice, we can meet monday 23:00 CEST (or please suggest a better date/time between 19:00 and 01:00 CEST)



If everyone could just PM me their regular online times, I can put it in a table and find the best time

Everyone, if you like to add something, please do. PM me the subject and I'll add it to the Agenda or just tell it here in the forum

If you want to get your hands dirty on any of the issues you are most welcome to attend