Topic: [ANN][FCN] FantomCoin. CN-based currency with merged mining. LAUNCHED NOW! - page 16. (Read 28172 times)

Because you are merging Monero, a coin somewhat distinct for a clean launch, with a coin shrouded in mystery with a lot of suspicious manipulation around it (80% mined when released to the public, vague allusions to use in the darknet despite no real evidence as such, an incredibly polished pool miner (Minergate) within days of launch that just happens to charge 10%, team separated from the Cryptonote team for unclear reasons, etc.). That hurts the marketability of Monero. I highly doubt that Bytecoin will ever take off as it will never be able to shake the 80% mined problem. Look at how much trouble Darkcoin has and that was an order of magnitude smaller ninja-mine. 

Monero also doesn't need the Bytecoin network to secure its hash as it is already on track to surpass the Bytecoin net hashrate. It would essentially be linking Monero to a coin that will likely become increasingly smaller relative to Monero for no real advantage.

Have you compared the hashpower of MRO and BCN lately? Can you explain the trend as to why people have stopped mining BCN and moved on to MRO? I made my point (albeit a little aggressively) and no it wasn't a contradiction. We know exactly why this merged mining proposal is being shoved down our throats and needless to say it will not succeed. It will only cause a short term disturbance and annoyance. If you like BCN, please by all means keep mining BCN. Do not forget that an idea of clean fork of BMR was abandoned by the regulars here because they also understood that constant fragmentation is not a good idea and gave a chance to thankful_for_today to at least start listening to the community and try to see the majority concerns. The rigged vote system was also called out.

MRO is getting high profile attention even from early BTC adopters.

Your post does remind me of quoting smooth

Seems like you contradict yourself: at first, you are telling to keep mining BCN and then you are telling about some injustice that is actually doubtable, IMHO, and discourage people to mine it.

Why don't you keep mining BCN like you have been last 2 years by yourself and leave MRO the way it is. Then people can decide what they want to go with. Answer is pretty easy, they don't want anything to do with a coin that has been mined more than 80% already.

STOP MERGED MINING/GATEKEEPING pushing us towards BCN. They both can co-exist without merged mining.

Faster transaction.

Mmm, I'm not sure that I correctly understood. Do you make a new fork? Or will it be an additional app that can be used together with existing BSN, MRO and HP?

What is MM? How does it work? advantages/ disadvantages?

What's the point to make block time so short? I hardly believe there is some impatient people who can't wait a few minutes

Why don't you make it 2 minutes like BCN block time?

Still believe in MM too. The idea you've suggested here is pretty nice but I wonder if you are going to create a new coin? 

Did I get you right - would it be a new fork like Bitmonero but with MM using bitmonero's or bytecoin's  blockchain?

You can also use Bitmonero's PoW as far as I understand.

As far as I understand, BCN has enough hashpower so it will be pretty much to use only Bytecoin/BCN blocks or shares as PoW. What other chains based on CryptoNote are you talking about?

New discussion thread: https://bitcointalksearch.org/topic/fcn-fantomcoin-cn-based-anonymous-merge-mine-with-bcn-xmr-qcn-duck-598823

Vote for FCN to be added to exchanges here https://comkort.com/vote#FCN
and here: https://www.swaphole.com/#!voting

Giveaway:  http://altcoingiveaways.com/index.php/topic,1572.0.html


Specifications:

- PoW algorithm: CryptoNight (64-bit CPU-only);
- 60 sec blocks;
- emission curve 22 => 50% coins will be emitted in 6 years;
- block reward decreases according to the formula (2⁶⁴ - 1 - A)*2^-22*10^-12 where A = supply mined to date;
- difficulty retargets every block;
- merged mining with Bytecoin (BCN) or BitMonero (BMR)

Downloads:
Linux binaries https://mega.co.nz/#!cdtmmC5Q!mVjlEyp_wWNqFWQb16vUFA0Wwm9OCeVHahzC0k2u7WM
Windows binaries https://mega.co.nz/#!ZRsXSIAB!dZfVJ_urH17aAiNbI_z3a8fE3EgxjkP0rWzULohDHUQ
Source https://github.com/amphibia/fantomcoin
MacOS (works with 10.7, 10.8, 10.9): https://mega.co.nz/#!4Y8QEbjb!A1H1oyvMBNVcu1FCkAZG7hdMTDp-h705hbBo359esLM


Official site: http://fantomcoin.org/


I'm developer working with thanful_for_today on merged mining issues. I see that community is against merged mining in BitMonero but I still believe in MM. I will start my own blockchain with MM implementation from scratch.

New blockchain will need no additional hashpower - it will use Bytecoin/BCN or BitMonero/BMR blocks or shares as PoW. Miners are free to choose "donor" chain they like. In case other chains based on CryptoNote will appear they also can be used as "donor" chains. This way I expect that new chain will have more hashpower than both BCN and BMR.


[1] CryptoNote site: https://cryptonote.org/inside.php
[2] Bytecoin OP: https://bitcointalksearch.org/topic/bcn-bytecoin-secure-private-untraceable-since-2012-512747
[3] BitMonero OP: https://bitcointalksearch.org/topic/annbmr-bitmonero-a-new-coin-based-on-cryptonote-technology-launched-563821
[4] BitMonero merged mining post: https://bitcointalksearch.org/topic/bmr-merged-mining-in-bitmonero-proposal-584893


First merged mining instructions for those who doesn't like GUI:

First of all be sure of two things:

• You have BCN or BMR address. If you don't know how to get it, please visit this thread: https://bitcointalksearch.org/topic/bcn-bytecoin-not-a-bitcoin-fork-how-to-544715
• You downloaded FantomCoin binaries and extracted them somwhere.

1. Launch Bytecoin's or Bitmonero's daemon and wait till its synchronization.

2. Start FantomCoin's daemon. The process is very similar to BCN's: launch command line, navigate to the right folder and launch fantomoind.exe . Use "save" command after synchronization  

3. Create FCN's address. Again it is the same process as for BCN and BMR: open another instance of command line, navigate to Fantomcoin’s folder and generate new wallet with “simplewallet”.

simplewallet --generate-new-wallet=example_wallet.bin --pass=12345

Here “example_wallet.bin” is the name of the wallet (use .bin file extension) and “12345” is the password for your new wallet.

4. One more command line is needed. Navigate to Fantomcoin's folder and launch minerc.exe using the next command:

minerc --node1=127.0.0.1:8081 --node2=127.0.0.1:24081 --wallet1=%your BCN or BMR address% --wallet2=%your FCN address%

--node1=127.0.0.1:8081 is IP and BCN's daemon port. If you want MM with BMR you need to use this one: --node1=127.0.0.1:18081 instead
--node2=127.0.0.1:24081 is IP and FCN's  daemon port

5. Enjoy merged mining!


Merged mining with GUI:

1. Start daemons and make sure they are synchronized with the network. Use save command after it.
2. Start GUI miner. Add BCN/BMR and FCN addresses to the right field. Click "Start"
3. PROFIT!