Topic: [ANN][MEOW] Kittehcoin launched ! Come get some MEOW now. U haz it! DOGE sad. - page 134. (Read 246075 times)

Yeah - this is a discussion I want to have with the community to see:

• if it's a good idea to begin with
• whether/how it'll wreck havoc on the network
• what the optimal settings should be for the coin if jackpot rewards are introduced
• how to mitigate potential problems
• how to coordinate a client update with the network, especially solo miners.
• how to best mod the kittehcoind client so that jackpot blocks don't wreak havoc on network difficulty, target blocks per day, etc.

I need all the feedback I can get about this proposed change, as thinking through the ramifications of a coin with random, decreasing rewards, yet with jackpots which are statistically grouped fairly tightly until they cease to be awarded is a bit of a mind-bender, and I have yet to make friends with someone here who understands the esoterics and ramifications of tweaking all these parameters enough to give me some intelligent, depthful feedback.

Of all the posts I've made on this thread, this is the one that I'm hoping I'll get some really well thought out responses to, and quickly. I'd like to either implement this ASAP or not at all... and if any of you know who I should be seeking out to speak to about these topics, PLZ let me know!

To give you an idea of what I'm proposing (from the readme in my dev branch):

KittehCoin Coin parameters:

30 second Block Targets, 1 Hour Diff Readjustments

Total of 100,000,000,000 coins.

Modified random reward system with a guaranteed minimum reward of 1,000 MEOW per block and a 0.000005% chance of mining a 'jackpot reward'. A 'jackpot reward' rewards the miner with a multiple of the amount of MEOW that was to be awarded in that target block range.

For example, if you mine a 'jackpot block' for block 50,000 and your reward was to be 78,235 you will receive 782,350 MEOW.

The chance of mining a 'jackpot block' is a flat 1 in 20,000 (0.00005%, roughly 10 jackpots per 200000 blocks, roughly 100 jackpots total - that's a max of 151.2M MEOW that could be awarded via jackpots until they cease to be awarded entirely - assuming the RNG awards the max possible reward every time a jackpot block is mined. In actuality the total will be less than that, as Lady Luck does not dole out that much of herself).

The 'jackpot reward' system was put in place to ensure that everyone, not just the super-early-adopters, stand a chance of receiving a large payout, whether solo mining or mining at a pool.

Jackpot Rewards system (what I am proposing adding):

Blocks              1 — 200,000:    10x  multiplier (max 1,000,000 MEOW)
Blocks    200,001 — 400,000:    20x  multiplier (max 1,000,000 MEOW)
Blocks    400,001 — 600,000:    40x  multiplier (max 1,000,000 MEOW)
Blocks    600,001 — 800,000:    80x  multiplier (max 1,000,000 MEOW)
Blocks    800,001 — 1,000,000: 160x multiplier (max 1,000,000 MEOW)
Blocks 1,000,001 — 1,200,000: 320x multiplier (max 1,000,000 MEOW)
Blocks 1,200,001 — 2,000,000: 640x multiplier (640,000 MEOW)

Jackpot Rewards cease to be awarded starting block 2,000,001

Standard MEOW Mining Rewards Table (this is what is in place now):

Blocks             1 —    200,000:   1,000 - 100,000 MEOW
Blocks   200,001 —    400,000:   1,000 -   50,000 MEOW
Blocks   400,001 —    600,000:   1,000 -   25,000 MEOW
Blocks   600,001 —    800,000:   1,000 -   12,500 MEOW
Blocks   800,001 — 1,000,000:   1,000 -     6,250 MEOW
Blocks 1,000,001 — 1,200,000:   1,000 -    3,125 MEOW
Blocks 1,200,001 — MAX_COINS:            1,000 MEOW

agreed that the stoner kitteh should probably go   

When is the coin going to be on an exchanger? Now or never

agreed that the stoner kitteh should probably go   

+1

If the Dev doesn't do it, would the community be interested in an exchange?

If the Dev doesn't do it, would the community be interested in an exchange?