[ANNOUNCE] Ixcoin - a new Bitcoin fork - page 19.

Xephan

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Quote from: bansal on August 15, 2011, 01:36:04 AM

You're right, that constant is used in a function called MoneyRange which seems to be mainly used to check transaction size. Where is the total supply actually limited in the original bitcoin code?

Edit: Actually I see it is just based upon the subsidy being cut in half in the code every 210,000 blocks. Interesting I just always assumed that constant was responsible.

nSubsidy >>= (nHeight / 210000);

You're right, there isn't a hard limit on the amount of bitcoins. 21 million is just rough level at which new Bitcoins generate per block is effectively negligible.

To make it clearer, this is what actually happens
1st "Stage": 50 BTC per block
2nd Stage : 25 BTC per block
3rd Stage : 12.5 BTC per block
4th Stage : 6.25 BTC per block
5th Stage : 3.125 BTC per block
6th Stage : 1.5625 BTC per block

So it just gets smaller and smaller so total Bitcoins would never reach the next million.

bansal

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Quote from: forrestv on August 15, 2011, 12:59:00 AM

Quote from: bansal on August 14, 2011, 11:44:16 PM

Well I'm no expert on the code, but MAX_MONEY is still set to 21000000 in main.h, so unless I'm missing something it's still capped at the same amount.

That constant does almost nothing. All it limits is the amount of money that can change hands in a single transaction, not the total amount of money in circulation.

That thread is incorrect in stating that blocks will begin being rejected. Things will continue past 21 million IXC as usual, unless one person happens to hold half of the money.

The point I was trying to make here is that Ixcoin's fundamental reason for existing (at least, the publicly stated one) isn't actually real, but it's still documented as such in the forum posting and the Ixcoin FAQ. What's wrong with re-raising the issue here? It seemed rather important to me.

You're right, that constant is used in a function called MoneyRange which seems to be mainly used to check transaction size. Where is the total supply actually limited in the original bitcoin code?

Edit: Actually I see it is just based upon the subsidy being cut in half in the code every 210,000 blocks. Interesting I just always assumed that constant was responsible.

nSubsidy >>= (nHeight / 210000);

forrestv

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Quote from: bansal on August 14, 2011, 11:44:16 PM

Well I'm no expert on the code, but MAX_MONEY is still set to 21000000 in main.h, so unless I'm missing something it's still capped at the same amount.

That constant does almost nothing. All it limits is the amount of money that can change hands in a single transaction, not the total amount of money in circulation.

That thread is incorrect in stating that blocks will begin being rejected. Things will continue past 21 million IXC as usual, unless one person happens to hold half of the money.

The point I was trying to make here is that Ixcoin's fundamental reason for existing (at least, the publicly stated one) isn't actually real, but it's still documented as such in the forum posting and the Ixcoin FAQ. What's wrong with re-raising the issue here? It seemed rather important to me.

payb.tc

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Quote from: doublec on August 15, 2011, 12:18:41 AM

That issue has already been raised and discussed in this thread and the ixcoin developer has responded.

not commenting on whether or not ixcoin will 'succeed', but i do think this is rather funny:

changing 50 to 96 = developer

doublec

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That issue has already been raised and discussed in this thread and the ixcoin developer has responded.

JoelKatz

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Democracy is vulnerable to a 51% attack.

Quote from: bansal on August 14, 2011, 11:44:16 PM

Well I'm no expert on the code, but MAX_MONEY is still set to 21000000 in main.h, so unless I'm missing something it's still capped at the same amount.

The thing is, they may or may not change that. They may say that's an obvious bug and change it. Or they may say that's the way it's supposed to be, and all coins after MAX_MONEY will fail in strange ways. We don't know.

bansal

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Quote

The truth is that the "developer" here just increased the block reward from 50 to 96, without changing the decay factor, which halves the reward every 210000 blocks (or ~4 years). Instead of a total of 21,000,000 IXC being created, there will be 40,320,000 IXC in the end.

Draw your own conclusions. Relevant source code: https://github.com/ixcoin/ixcoin/compare/f08736405e98d0f16ec2...b721315ff7adf959e76a#L43L637

Well I'm no expert on the code, but MAX_MONEY is still set to 21000000 in main.h, so unless I'm missing something it's still capped at the same amount.

forrestv

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Quote

There are currently ~7M (as of August 2011) in existence and it is expected that all 21 million Bitcoins will have been generated by 2033. Whereas there are currently ~580K Ixcoins (as of 10th August 2011) in existence and it is expected that all 21 million Ixcoins will have been generated by 2015. This is because 16*6=96 IXC are created per new block, instead of 50 BTC in Bitcoin.

Ixcoin maturity will be reached ~18 years before Bitcoin's. By mid-2013, the number of IXC and BTC will reach parity (for a brief moment).

Ixcoin does not actually have a "shorter maturation period", as stated as the reason for forking Bitcoin. Did nobody wonder why the 'total ixcoins over time' graph suddenly just stopped? Or did everybody just accept the fact that this is a futureless blockchain, designed to be abandoned once its creators had gotten rich?

The truth is that the "developer" here just increased the block reward from 50 to 96, without changing the decay factor, which halves the reward every 210000 blocks (or ~4 years). Instead of a total of 21,000,000 IXC being created, there will be 40,320,000 IXC in the end.

The graph should look something like this:

Draw your own conclusions. Relevant source code: https://github.com/ixcoin/ixcoin/compare/f08736405e98d0f16ec2...b721315ff7adf959e76a#L43L637

Nasakioto

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Thomas Nasakioto

Quote from: jackjack on August 14, 2011, 01:13:29 PM

Even if it is converted you can of course retrieve the coins

Correct. I did correct this in my subsequent post.

jackjack

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May Bitcoin be touched by his Noodly Appendage

Quote from: Nasakioto on August 14, 2011, 01:06:39 PM

Quote from: jackjack on August 14, 2011, 12:16:23 PM

http://forum.bitcoin.org/index.php?topic=26808.0
s/testnet/ixcoin

More details here https://ixcoin.org/forum/index.php?topic=55.0

Quote

prevent the conversion to Ixcoin address format. So if it's sent, at least it is possible to retrieve if you own the receiving bitcoin wallet.dat

Wat?
Even if it is converted you can of course retrieve the coins

Nasakioto

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Thomas Nasakioto

Quote from: jackjack on August 14, 2011, 12:16:23 PM

http://forum.bitcoin.org/index.php?topic=26808.0
s/testnet/ixcoin

More details here https://ixcoin.org/forum/index.php?topic=55.0

jackjack

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May Bitcoin be touched by his Noodly Appendage

http://forum.bitcoin.org/index.php?topic=26808.0
s/testnet/ixcoin

Xephan

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Quote from: wallet.dat on August 14, 2011, 11:57:53 AM

Quote from: ?? on ??

Quote from: wallet.dat on August 14, 2011, 11:19:57 AM

So does anybody know how long til the next retarget?

~1300 blocks probably a day or two.

Does it still go by 2016 blocks per retarget?

He hasn't made any real changes to the code so yes it appears to be the same.

Raoul Duke

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Quote from: ?? on ??

Quote from: jackjack on August 14, 2011, 11:04:53 AM

A bug?
It's a Bitcoin feature
You just can't copy Bitcoin, modify 3 numbers and expect it to run like you want. Yes, creating a working fork needs some work Shocked

Yah its a bitcoin feature alright that client will send to an invalid address as well so this flaw was there to begin with.

No, dude, it's a Bitcoin feature to accept Bitcoin addresses... In Ixcoin, it's a bug. LOL

I dunno how many persons already said that Bitcoin doesn't send to invalid addresses, but it seems you haven't read it.
I guess you meant to say that bitcoin sends to unexistent addresses, but that's another story, as the client doesn't know if the addresses exist. But if you input an INVALID(like an address starting with an x) it will not send.

wallet.dat

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Quote from: ?? on ??

Quote from: wallet.dat on August 14, 2011, 11:19:57 AM

So does anybody know how long til the next retarget?

~1300 blocks probably a day or two.

Does it still go by 2016 blocks per retarget?

wallet.dat

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So does anybody know how long til the next retarget?

jackjack

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May Bitcoin be touched by his Noodly Appendage

Quote from: Nasakioto on August 14, 2011, 05:28:55 AM

Quote from: joulesbeef on August 14, 2011, 02:00:21 AM

WHEN YOU PASTE AN IXCOIN ADDY INTO THE BITCOIN CLIENT, GUESS WHAT HAPPENS? IT GIVES YOU A FUCKING ERROR, LIKE IT IS SUPPOSED TO. IT DOESNT TRY TO TRANLSATE IT INTO SOMEONE ELSES BTC ADDY AND SEND YOUR COIN AWAY. IT GIVES YOU A FUCKING ERRROR MESSAGE THAT SAYS DONT SEND YOUR COINS.

Yeah it was my fault, but their software is a buggy POS, and somehow they actually changed the BTC code to make this normal behavior. This is one of the many reasons I call this scamcoin.

It appears your mistake revealed a bug in the current Ixcoin code. Thanks for notifying the forum about this. We'll include a patch for this in the next update.

I understand your frustration but calling it scamcoin appears a bit extreme.

Thanks for PMing me the amount loss: 38 IXC. Considering this must be a bankrupting loss to you, I'd be happy to cover the 38 IXC in the hopes you regain faith in Ixcoins. Please PM me an Ixcoin address.

[Note: I am not setting a precedent here. Just a one-off Wink

]

A bug?
It's a Bitcoin feature
You just can't copy Bitcoin, modify 3 numbers and expect it to run like you want. Yes, creating a working fork needs some work Shocked

wallet.dat

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Quote from: afro25 on August 14, 2011, 10:51:23 AM

With the I0Coin coming out soon, who's selling their IxCoin supply ready to begin trading BTC for I0C when the first exchange comes out?
If I0Coin has anywhere near the success of IXCoin (And it should, it should have improvements) then anyone buying alot of BTC worth of it at the start should be a very wealthy early adopter in the future.

I'm selling off all my Ixcoin and going back to Bitcoin until I0Coin is released shortly, then to splash every Bitpenny i have on it Tongue

Why would you need to sell your Ixcoin (or Namecoin for that matter) in order to start mining a different chain?

Edit: Oh, nvm. I read that wrong. Anyway, I'm not selling. I'm holding out til the next difficulty bump (how long til that anyway?) since it will likely come with a 3-4x bump in valuation as well.

afro25

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With the I0Coin coming out soon, who's selling their IxCoin supply ready to begin trading BTC for I0C when the first exchange comes out?
If I0Coin has anywhere near the success of IXCoin (And it should, it should have improvements) then anyone buying alot of BTC worth of it at the start should be a very wealthy early adopter in the future.

I'm selling off all my Ixcoin and going back to Bitcoin until I0Coin is released shortly, then to splash every Bitpenny i have on it Tongue

forexmasterja

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Quote from: joulesbeef on August 14, 2011, 02:00:21 AM

It has a very buggy client as well... watch out.
Yeha it was a user error but early am i sent my coin to bitparking to sell.
I accidently used my btc deposit addy.

ANY QUALITY software would have errored out. Not scamcoin. SCamcoin decides to translate my btc addy into a ixcoin addy and go ahead and send my coin there. Not the addy I pasted it there no errors, just cya later. Seems kinda fucked when you can accidently send your wallet away by a typo. SO i post in their forums and they tell me this cant be fixed.

So apparently translating bad addies to someone elses addy is part of the client.

WHEN YOU PASTE AN IXCOIN ADDY INTO THE BITCOIN CLIENT, GUESS WHAT HAPPENS? IT GIVES YOU A FUCKING ERROR, LIKE IT IS SUPPOSED TO. IT DOESNT TRY TO TRANLSATE IT INTO SOMEONE ELSES BTC ADDY AND SEND YOUR COIN AWAY. IT GIVES YOU A FUCKING ERRROR MESSAGE THAT SAYS DONT SEND YOUR COINS.

Yeah it was my fault, but their software is a buggy POS, and somehow they actually changed the BTC code to make this normal behavior. This is one of the many reasons I call this scamcoin.

I mentioned this earlier too, the exact same thing happened to my friend and he lost some coins. Kinda sucks Sad

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