[ANN][Datacoin] Datacoin blockchain start announcement (Minor code upd + logo) - page 56.

maxsolnc

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Quote from: cryptrol on December 24, 2013, 06:55:23 AM

Quote from: maxsolnc on December 23, 2013, 04:18:00 AM

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

Really ? Source ?

AFAIK the fees are hardcoded to 0.05 into Datacoin, you can easily change them to whatever you want using settxfee from the debug console or the rpc command but if you set them below 0.05 the transactions will not be accepted by the network (I have tried it).

The fees should get lower ASAP.

I am currently working in the envelope protocol described by oocooku I plan to deploy it soon on https://krypte.net

Sorry cryptrol, I meant that this fee is 'not unchangable', not just 'hardcoded'. Of course, it is hardcoded in common sense, but AFAIK it can be changed without hardfork. Anyway we need to clarify that with oocook5u.

BTW: oocook5u is updating repository just now, so maybe he'll appear here soon. Maybe he will answer this question. And what is optimal fee in your opinion?

GreekBitcoin

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Quote from: cryptrol on December 24, 2013, 06:55:23 AM

Quote from: maxsolnc on December 23, 2013, 04:18:00 AM

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

Really ? Source ?

AFAIK the fees are hardcoded to 0.05 into Datacoin, you can easily change them to whatever you want using settxfee from the debug console or the rpc command but if you set them below 0.05 the transactions will not be accepted by the network (I have tried it).

The fees should get lower ASAP.

I am currently working in the envelope protocol described by oocooku I plan to deploy it soon on https://krypte.net

Although i dont have a problem with the fees i see that many people really want them lowered. So yes i am starting supporting this too. It seems people will embraced it much easier with less fees.

And i am really glad to see that devs are working! Unfortunately i cant help other than trying to tell the people about the coin, fix a bit the image of the coin etc.

Cant wait for more oocooku updates too!

cryptrol

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Quote from: maxsolnc on December 23, 2013, 04:18:00 AM

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

Really ? Source ?

AFAIK the fees are hardcoded to 0.05 into Datacoin, you can easily change them to whatever you want using settxfee from the debug console or the rpc command but if you set them below 0.05 the transactions will not be accepted by the network (I have tried it).

The fees should get lower ASAP.

I am currently working in the envelope protocol described by oocooku I plan to deploy it soon on https://krypte.net

sfireman

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Activity: 206

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Decentralized Ascending Auctions on Blockchain

Published a small article about technical details I got from reading promo and this thread:
http://cryptoninja.blogspot.ru/2013/12/datacoin-technical-faq.html
Hope this will help someone to get key features of this project

maxsolnc

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DTC unofficial team

Quote from: sfireman on December 24, 2013, 04:44:29 AM

A few more questions:
1. transaction max size is 128kb, right?
2. we can write up to 8 transaction in one block, right?
3. if transaction fee is 0.05DTC, then I pay 0.05DTC for up to 128kb of space. So I pay 0.4DTC for 1MB of space(8 transactions), correct?

1. correct
2. it' correct only if all transactions are 128 KB, unless you can write up to 1024 transactions (1kb min size)
3. no, you pay 0.05 DTC for each KB of transaction

sfireman

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Decentralized Ascending Auctions on Blockchain

A few more questions:
1. transaction max size is 128kb, right?
2. we can write up to 8 transaction in one block, right?
3. if transaction fee is 0.05DTC, then I pay 0.05DTC for up to 128kb of space. So I pay 0.4DTC for 1MB of space(8 transactions), correct?

GreekBitcoin

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Quote from: sfireman on December 23, 2013, 02:18:26 PM

I wrote a small article to introduce this coin to public
http://cryptoninja.blogspot.ru/2013/12/datacoin-new-word-in-data-store.html
Feel free to comment/discuss, maybe I was wrong in something

Nice !

sfireman

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Activity: 206

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Decentralized Ascending Auctions on Blockchain

I wrote a small article to introduce this coin to public
http://cryptoninja.blogspot.ru/2013/12/datacoin-new-word-in-data-store.html
Feel free to comment/discuss, maybe I was wrong in something

maxsolnc

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Activity: 350

Merit: 250

DTC unofficial team

Quote from: sfireman on December 23, 2013, 12:24:34 PM

I have a few question
Is datacoin have some total limit of coins that can be produced? If no maybe we need it.

2 billlion. With current diff (block reward depends on diff) this limit will be reached in 400 years, but really it will take much more time.
Also you can find more links and common info here:
https://bitcointalksearch.org/topic/ann-dtc-promo-thread-information-is-money-datacoin-implements-these-words-358592

sfireman

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Activity: 206

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Decentralized Ascending Auctions on Blockchain

I have a few question
Is datacoin have some total limit of coins that can be produced? If no maybe we need it.

maxsolnc

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Activity: 350

Merit: 250

DTC unofficial team

Quote from: Exocyst on December 23, 2013, 11:01:32 AM

Datacoin would benefit from an electrum-style web wallet with client side security, and client file deposit/retrieval. Anyone currently working on the web wallet aspect?

We have crypte.net as simple web wallet, but of course we understand that electrum-style wallet can be better . So just now - no, but we think about it, and if there are willing developers (or if they appear during our promotions after holidays), it will be cool.

Exocyst

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Science!

Datacoin would benefit from an electrum-style web wallet with client side security, and client file deposit/retrieval. Anyone currently working on the web wallet aspect?

maxsolnc

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Activity: 350

Merit: 250

DTC unofficial team

Quote from: Mortimer452 on December 23, 2013, 05:00:32 AM

Quote from: maxsolnc on December 23, 2013, 04:18:00 AM

Quote from: Mortimer452 on December 23, 2013, 03:31:42 AM

Has there been any thought in dropping the TX fee for storage of files? Given DTC's current exchange rates, it would cost about $1.00 to store a 40KB MS Word document. That seems pretty steep.

Might help in getting some traction if the rates were lower. Also, if there was a way in the wallet GUI to do this instead of command-line. Of course, this would also probably cause the blockchain to EXPLODE in size.

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

2. It won't explode - remember that max block size is 1MB, and 1 block is generated every minute. And I don't think that people will want to store gigabytes of data immediately.

Right, I agree $0.50 isn't alot of money but when you've got places like SkyDrive and GoogleDrive offering several GB for free, paying what works out to basically 2.5 cents per KB is pretty steep (current DTC/$USD = $0.50).

Although storing data in the DTC blockchain does have significant advantages, it is very secure (assuming that you encrypt your data), it is PERMANENT and anonymous - no one even knows it's there except you. And, it is very resilient - a copy of your data exists on every fully synchronized node on the network.

I guess by "explode" I meant the block chain could grow significantly very quickly, if you added a way to add files/data to the blockchain using the GUI wallet. 1MB per minute adds up pretty darn fast. A year from now -- I'm not going to store the entire 513GB DTC blockchain on my machine just so I can access my 200KB worth of "super secret" documents.

Firstly, if Datacoin starts to grow, there will be many-many services holding the whole blockchain. It's not a problem to add 500 GB of storage to dedicated server. So most of Datacoin users will store their coins online, but there will be still enough copies of blockchain - hundreds and thousands: pools, online wallets, exchanges, services...
Secondly, oocook5u wants to implement 'personal blockchains'. If he does it, this problem with 500 GB will disappear.

Mortimer452

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Quote from: maxsolnc on December 23, 2013, 04:18:00 AM

Quote from: Mortimer452 on December 23, 2013, 03:31:42 AM

Has there been any thought in dropping the TX fee for storage of files? Given DTC's current exchange rates, it would cost about $1.00 to store a 40KB MS Word document. That seems pretty steep.

Might help in getting some traction if the rates were lower. Also, if there was a way in the wallet GUI to do this instead of command-line. Of course, this would also probably cause the blockchain to EXPLODE in size.

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

2. It won't explode - remember that max block size is 1MB, and 1 block is generated every minute. And I don't think that people will want to store gigabytes of data immediately.

Right, I agree $0.50 isn't alot of money but when you've got places like SkyDrive and GoogleDrive offering several GB for free, paying what works out to basically 2.5 cents per KB is pretty steep (current DTC/$USD = $0.50).

Although storing data in the DTC blockchain does have significant advantages, it is very secure (assuming that you encrypt your data), it is PERMANENT and anonymous - no one even knows it's there except you. And, it is very resilient - a copy of your data exists on every fully synchronized node on the network.

I guess by "explode" I meant the block chain could grow significantly very quickly, if you added a way to add files/data to the blockchain using the GUI wallet. 1MB per minute adds up pretty darn fast. A year from now -- I'm not going to store the entire 513GB DTC blockchain on my machine just so I can access my 200KB worth of "super secret" documents.

maxsolnc

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Activity: 350

Merit: 250

DTC unofficial team

Quote from: nSuper on December 23, 2013, 04:27:12 AM

What are immature coin? Do you need to wait for them to mature before using them?

correct, coins need to mature (3200 confirmations for Datacoin) before you can use them. It takes ~2 days, so wait a bit Wink

nSuper

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What are immature coin? Do you need to wait for them to mature before using them?

maxsolnc

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Activity: 350

Merit: 250

DTC unofficial team

Quote from: Mortimer452 on December 23, 2013, 03:31:42 AM

Has there been any thought in dropping the TX fee for storage of files? Given DTC's current exchange rates, it would cost about $1.00 to store a 40KB MS Word document. That seems pretty steep.

Might help in getting some traction if the rates were lower. Also, if there was a way in the wallet GUI to do this instead of command-line. Of course, this would also probably cause the blockchain to EXPLODE in size.

1. This fee is not hardcoded, 'dynamic fee' will be soon built into wallet - just like in Bitcoin wallet. But miners can set their own fees, so transactions with 0 fee can never reach destination. $1.00 per DTC - it was price when DTC costed 0.001 BTC, and Bitcoin price was $1.000. Now it's 0.5$. Anyway, $0.5 for MS Word document is not so much if you're not planning to store hundreds and thousands of documents.

2. It won't explode - remember that max block size is 1MB, and 1 block is generated every minute. And I don't think that people will want to store gigabytes of data immediately.

Mortimer452

hero member

Activity: 532

Merit: 500

Has there been any thought in dropping the TX fee for storage of files? Given DTC's current exchange rates, it would cost about $1.00 to store a 40KB MS Word document. That seems pretty steep.

Might help in getting some traction if the rates were lower. Also, if there was a way in the wallet GUI to do this instead of command-line. Of course, this would also probably cause the blockchain to EXPLODE in size.

maxsolnc

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Activity: 350

Merit: 250

DTC unofficial team

Quote from: GreekBitcoin on December 23, 2013, 02:10:13 AM

This is how a new coin's page must look like.

https://bitcointalksearch.org/topic/anneac-earthcoin-seeking-new-exchanges-huge-volumes-being-missed-379236

If we dont want to change this one its fine.

I am thinking to make one like this or even better to change the promo one to look like this! maxsolnc can you please do this? I know its christmas though now.

Really we need a better image. Everyone i talk (one the forums) is like what the fuck is datacoin? Has it already started? It looks like a programming test or something with that page.

tl;dr: Please change the promo thread to look more like the other coins, a good example is the link above. And then we have to divert most discussion there and not in this thread.

Thanks!

Okay, I'll work with this thread today. Ping me in PM in 2-3 hours later (from this message) Wink

GreekBitcoin

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This is how a new coin's page must look like.

https://bitcointalksearch.org/topic/anneac-earthcoin-seeking-new-exchanges-huge-volumes-being-missed-379236

If we dont want to change this one its fine.

I am thinking to make one like this or even better to change the promo one to look like this! maxsolnc can you please do this? I know its christmas though now.

Really we need a better image. Everyone i talk (one the forums) is like what the fuck is datacoin? Has it already started? It looks like a programming test or something with that page.

tl;dr: Please change the promo thread to look more like the other coins, a good example is the link above. And then we have to divert most discussion there and not in this thread.

Thanks!

Topic: [ANN][Datacoin] Datacoin blockchain start announcement (Minor code upd + logo) - page 56. (Read 171852 times)