what algo? X11 X13 and X15 OK?
We opted for Groestl.
It is one of the most energy efficient algorithms in the market and offers really good CPU/GPU performance ratio. 
Topic: [ANN][AID] AidBit | Digital-currency redefined | POW/POS | Groestl | Charity - page 56. (Read 101130 times)
July 10, 2014, 02:09:12 PM
We opted for Groestl.
It is one of the most energy efficient algorithms in the market and offers really good CPU/GPU performance ratio. July 10, 2014, 02:06:58 PM
3% premine or 3% taken of every block, there is no real difference. Either way the devs end up with 3% of the total coinsupply ... which is huge!
Just for example look at AtheistCoin (not trying to sell you on that one, merely a good example), those devs put in a lot of time too, it is also Groestlbased and has no premine, no rewards for dev and no IPO, those devs are not trying to fill their own pockets .... also the donations for charity at AtheistCoin are on volunteer basis not a mandatory 10% of every block ... those guys are giving the right example in this land of (hidden) premines, IPOs, percentages for devs and so on... their philosophy is (and I agree with it), if your coin is good and you trust in it as a dev you don't need a premine or a percentage, just mine and trade it yourself
Don't get me wrong .. I think this coin has some very good ideas and could be a success, I really like the built-in miner (although I wonder how you are going to deal with GPU across platforms etc) and Groestl is a really nice algo ... but mandatory 13% of every block is way, way too much. Allow people to donate volunteerly and remove the 3% pocketfilling of the dev and I will mine this for sure.
Just for example look at AtheistCoin (not trying to sell you on that one, merely a good example), those devs put in a lot of time too, it is also Groestlbased and has no premine, no rewards for dev and no IPO, those devs are not trying to fill their own pockets .... also the donations for charity at AtheistCoin are on volunteer basis not a mandatory 10% of every block ... those guys are giving the right example in this land of (hidden) premines, IPOs, percentages for devs and so on... their philosophy is (and I agree with it), if your coin is good and you trust in it as a dev you don't need a premine or a percentage, just mine and trade it yourself
Don't get me wrong .. I think this coin has some very good ideas and could be a success, I really like the built-in miner (although I wonder how you are going to deal with GPU across platforms etc) and Groestl is a really nice algo ... but mandatory 13% of every block is way, way too much. Allow people to donate volunteerly and remove the 3% pocketfilling of the dev and I will mine this for sure.
July 10, 2014, 02:03:02 PM
dev
create your own pool ,1 (ONLY) one NO OTHER PPOL and give fee and donation for charity?
create your own pool ,1 (ONLY) one NO OTHER PPOL and give fee and donation for charity?
This is basically a must, due to our built-in mining control software. At launch we will have couple of own pools running. In line with the basic crypto-currency idea, we don't want to make the currency centralized, so serious pool owners will have the option to get their pools hosted in the wallet's pool list and randomly selected. More details about that coming soon...
Cheers
July 10, 2014, 01:57:15 PM
what algo? X11 X13 and X15 OK?
July 10, 2014, 01:55:21 PM
dev
create your own pool ,1 (ONLY) one NO OTHER PPOL and give fee and donation for charity?
create your own pool ,1 (ONLY) one NO OTHER PPOL and give fee and donation for charity?
July 10, 2014, 01:43:07 PM
Like the groestl algo, but that premine....c'mon son! 
Not sure what premine are you talking about? We will have max 2 days running-in period with limited resources - to keep the diff low.
There will be 0 premine. Few coins created during running-in period will be transferred to charity account. Charity (10%) and dev (3%) contributions will be created gradually, block by block. This design did complicate lots of low level stuff, but premine was out of the question from the start.
My bad about that pre mine thingy. But 13% of total going to some kind of charity' seems a bit high and gives me the chills.
We will just have to wait and see i guess. Wish you guys a lot of succes though. Cheers!
We will really do our best to make all our charity operations as transparent as possible. Thank you so much for your support!
July 10, 2014, 01:33:30 PM
Maybe dev - 1% ?
Well, we really think that 3% is quite a reasonable amount. Please don't forget that this is not a premine.
Cheers
July 10, 2014, 11:31:33 AM
Like the groestl algo, but that premine....c'mon son!
Not sure what premine are you talking about? We will have max 2 days running-in period with limited resources - to keep the diff low.
There will be 0 premine. Few coins created during running-in period will be transferred to charity account. Charity (10%) and dev (3%) contributions will be created gradually, block by block. This design did complicate lots of low level stuff, but premine was out of the question from the start.
My bad about that pre mine thingy. But 13% of total going to some kind of charity' seems a bit high and gives me the chills.
We will just have to wait and see i guess. Wish you guys a lot of succes though. Cheers!
July 10, 2014, 09:14:55 AM
Maybe dev - 1% ?
July 10, 2014, 02:28:29 AM
Like the groestl algo, but that premine....c'mon son!
Not sure what premine are you talking about? We will have max 2 days running-in period with limited resources - to keep the diff low.
There will be 0 premine. Few coins created during running-in period will be transferred to charity account. Charity (10%) and dev (3%) contributions will be created gradually, block by block. This design did complicate lots of low level stuff, but premine was out of the question from the start.
July 10, 2014, 02:11:40 AM
Like the groestl algo, but that premine....c'mon son!
July 10, 2014, 01:58:21 AM
Hey guys, I'll be answering all the technical questions concerning AidBit.
FYI, the intro web site has just been activated.
Cheers
V.
FYI, the intro web site has just been activated.
Cheers
V.
July 09, 2014, 04:00:33 PM
hi
yep good vision
yep good vision
July 09, 2014, 12:03:49 PM
hi
transparence dev
10+3% what a huge %% :/
what special charity? name etc.....
thanks
transparence dev
10+3% what a huge %% :/
what special charity? name etc.....
thanks
We've given much thought to the subject and transparency will be our highest priority. At launch we will open two »public« accounts, a special charity account, and a foundation account. We will implement live web monitor – a special website for tracking all charity funds, transactions and projects. We understand your concern and we will do our best to make everything as transparent as possible.
Thank you
July 09, 2014, 11:42:14 AM
hi
transparence dev
10+3% what a huge %% :/
what special charity? name etc.....
thanks
transparence dev
10+3% what a huge %% :/
what special charity? name etc.....
thanks
July 09, 2014, 09:20:03 AM
This seems pretty fresh! Good work. Keep pushing forward 
P.S What are your plans for keeping the premine transparent so that your claim for donating it all to charity is kept not only on the words basis?
Cheers
P.S What are your plans for keeping the premine transparent so that your claim for donating it all to charity is kept not only on the words basis?
Cheers
Actually, the premine will be next to non-existent. We will try to make the "running-in" period as short as possible. Maybe even implement lower reward for first couple of days. Regarding the money created, everything will be transferred to the main public charity account. And because reward is difficulty based, there is nothing to worry about, since we will not exceed diff 1.
The plan is to make live web monitor for charity funds, where every transaction, being direct funding of humanitarian organizations in AID or exchange to US$ and later money orders, will be followed and described in detail.
Thanks for your questions and support.
Thanks mate. I appreciate the informative response
Will keep an eye on this. Cheers
July 09, 2014, 07:46:10 AM
This seems pretty fresh! Good work. Keep pushing forward
P.S What are your plans for keeping the premine transparent so that your claim for donating it all to charity is kept not only on the words basis?
Cheers
P.S What are your plans for keeping the premine transparent so that your claim for donating it all to charity is kept not only on the words basis?
Cheers
Actually, the premine will be next to non-existent. We will try to make the "running-in" period as short as possible. Maybe even implement lower reward for first couple of days. Regarding the money created, everything will be transferred to the main public charity account. And because reward is difficulty based, there is nothing to worry about, since we will not exceed diff 1.
The plan is to make live web monitor for charity funds, where every transaction, being direct funding of humanitarian organizations in AID or exchange to US$ and later money orders, will be followed and described in detail.
Thanks for your questions and support.
July 09, 2014, 06:50:36 AM
This seems pretty fresh! Good work. Keep pushing forward
P.S What are your plans for keeping the premine transparent so that your claim for donating it all to charity is kept not only on the words basis?
Cheers
P.S What are your plans for keeping the premine transparent so that your claim for donating it all to charity is kept not only on the words basis?
Cheers
July 09, 2014, 06:08:05 AM
Hi all,
We would like to inform you about adding AID coin to the Voting List on modern exchange AskCoin.Net:
Make sure to follow us on Twitter,
AskCoin.Net Team
We would like to inform you about adding AID coin to the Voting List on modern exchange AskCoin.Net:
Make sure to follow us on Twitter,
AskCoin.Net Team
Great, thank you!
July 09, 2014, 05:46:32 AM
Your coin has been added to the Altcoin launch calendar.
http://altcoinherald.com/xwxg
We'll keep posted for developments with your coin!
http://altcoinherald.com/xwxg
We'll keep posted for developments with your coin!
Thank you!
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