Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 41. (Read 128605 times)

The Bitcoin code seems to ignore the timestamp of the genesis block anyway.

You can create a genesis block, leave it lying around un-mined a few days or weeks, maybe even years or decades, and when you do finally fire up the code and start mining you don't get a complaint that the genesis block is too old nor that the first block you create following the genesis block is too far into the future as compared to the date of the genesis block.

As soon as a new checkpoint comes out in a new version of the client, you will be able to see whether that checkpoint affirms the blocks mined since the publication of the current version or, if your held back chain theory is the case, instead is a checkpoint invalidating everything mined since publication and instead affirming some held back secret ten year old chain.(*)

-MarkM-

(*) Because he is actually Satoshi, and didn't even publish the whitepaper until long after starting that secret hidden held back chain...

EDIT: Actually, Satoshi's REAL held back chain PAID the newspaper to publish a specific future headline, they get a big chunk of the coins in the held back secret double-spend chain!

Agreed. What would that accomplish if no one uses ixcoin because of such an act? He would be destroying his own network he created.

i dont fully understand how some text in the genesis block proves a date. but i do see your point.

OK, you win.Thanks for the Lesson.
Too bad there is nothing profitable left to mine for me. 

Woah, so there's your double spend....  You're saying this guy could have been mining for the last 6 months, be up to block 50000.  Then he "releases" block 6000 (or whatever it was), and people start mining, trading etc.  Then one day in the future he drops block 50000 into the wild and all of a sudden everyone's coins go to him.

Interesting idea.  And while it may work, it would kill ixcoin dead.  Nobody would ever use it again.  So that eliminates the "get rich quick" aspect and turns it into a "sew mayhem and disaster" type scenario.

DO NOT USE THIS
There is a more serious issue than that he already mined some blocks.  There is no way of knowing he hasn't mined EVEN MORE and is holding them to himself.

The genesis block is NOT properly timestamped.  The bitcoin genesis block contains the following quote:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

The reason for this is so you can be sure Satoshi hadn't been mining a chain for the past 10 years.  That quote PROVES that noone started mining before Jan 03 2009.

In IXcoin the genesis block has the quote:
"To see the farm is to leave it"
https://github.com/ixcoin/ixcoin/blob/Branch_v0.3.24/src/main.cpp

That is totally meaningless and proves nothing.

Either the dude who made this didn't understand the reason for timestamping the genesis block, or deliberately left it out.  Either way, there is no way you can know that he or someone else hasn't been mining an alternate chain for the past 2 years being kept hidden and that will be released eventually later..

Either way, this is not worth using.  Epic fail...

how fast does the difficulty change in terms of blocks? 2016?

That's a great point.... except for the fact that there is nothing you can use ixcoin for....  So what, exactly, would you be double-spending on?

Same argument could have been made against bitcoin in its early early days.  Still, this strikes me as a fairly transparent "boo hoo I missed out so I'm gonna make my own" get-rich-quick attempt.

If he'd made some attempt at creating a novel fork of bitcoin I'd have a different opinion.  If he'd not mined over 500k coins himself before going public I'd have a different opinion.

For the next "me too"er, I suggest the following:
- Pre-announce your project with a set "go-live" date
- Make a meaningful change to existing bitcoin (and it wouldn't hurt to put some thought and explanation into _why_ your change is worth our time)

ill give you guys a hint...the chain with the highest difficulty is the most secure. why would you use ixcoin when you could probably do a 51% attack with like 50 ghash/s for real.

I wonder how bitcoins begun to be worth something.
Someone must have been willing to sell something for the first time... how did that happen ?
The same must happen with Ixcoin, or it will be just numbers.

I'm not mad.      This is an internet forum...  It takes a lot more than text on a screen typed by a stranger to anger me.

Somebody just needs to tell it how it is.  These people making bitcoin clones trying to get rich are at best, lazy.

C'mon, son, gimme a Baaaaaaaaaaam! Green eggs and haaaaaaaaaaaam!






This has already been addressed in this thread...like GPU miners aren't just going to roll in, rape the difficulty, and leave four months of slogging along for the chumps who stick with it. Taking a page from Phinnaeus Gage's book; Namecoin: It sort of sucks for those who really believe in it.

Everyone will just keep mining until the difficulty skyrockets, after which everyone will stop mining Ixcoins and no one will be able to even transfer them... not that you'd need to transfer them, since no one will want to buy them, as they provide nothing the bitcoins do not. It doesn't matter if you mine thousands of Ixcoins, you won't be able to use them for anything.

The creator of bitcoin really is some sleezebag, he also wants to rely on everybody else to do the dirty work, ie. create software, like a bitcoin <> fiat exchange for instance, and how does he want to pay for this work? Drumroll... with bitcoins that he mined himself for virtually no cost.

Interesting post this. I'd give you a karma point for this post, as it was valuable to this discussion and gave (at least for me) some new light to it. However, there's no karma vote button on this forum. It's true that software developed for ixcoin or any other variant probably would be beneficial for bitcoin, but I don't see how it can be attractive to collect ixcoin bounties as they're worth nothing at the moment. It must only be if they'd recieve value in the future, only then would it make sense to collect ixcoins at the moment.

I did a quick calculation of the bounties given at the moment:

First Gambling service to support IXC payments    500 IXC
First shared hosting service to support IXC payments    500 IXC
First Gift Card service to support IXC payments    500 IXC
First VPN service to support IXC payments    500 IXC
First VPS service to support IXC payments    500 IXC
Getting shops/organisations to accept Ixcoin    25,000 IXC
Volunteers: Code contributors    10,000 IXC
Ixcoin Stats Page    2,000 IXC
Ixcoin Logos    2,000 IXC
Volunteer: Bounty Manager    2,000 IXC
Volunteers: Github/Sourceforge Admins    10,000 IXC
Volunteer: Mac distro maintainer    2,000 IXC
Volunteer: Wiki Contributors    10,000 IXC
Volunteer: Wiki admin    2,000 IXC
Volunteers: IRC admins - 5,000 IXC    2,000 IXC
Volunteer: Forum admins    10,000 IXC
Volunteer: Twitter admin    1,000 IXC
Volunteer: Facebook admin    2,000 IXC
First IXC/USD exchange service with $100,000 30d volume    20,000 IXC
First BTC/USD exchange service    5,000 IXC
First BTC/IXC exchange service with 10,000 BTC 30d volume    20,000 IXC
First BTC/IXC exchange service    5,000 IXC
First web-based Ixcoin block explorer    5,000 IXC
First Ixcoin wallet service    2,000 IXC
First Ixcoin escrow service    2,000 IXC
First pool to reach 500GH/s on Ixcoin blockchain    20,000 IXC
First pool to reach 1,000GH/s on Ixcoin blockchain    50,000 IXC
First tier-3 mining pool to support Ixcoin    2,000 IXC
First tier-2 mining pool to support Ixcoin    5,000 IXC
First tier-1 mining pool to support Ixcoin    10,000 IXC


Total: 228500 IXC

580000 - 228500 = 351500

Which mean the creator sits on ~0,3 million ixcoins. In the case of Sathosi, he actually spent a lot of time writing bitcoin. I can't see what time consuming work has been done by the creator of ixcoin.

Hey now be fair, it is only armchair critics who have been speculating that Ixcoins are only worth 0.0001 of a Bitcoin.

For all we know the holder of the initial 580,000 plans to "back" them with 5800 or 58000 Bitcoins once the exchange opens.

It would be useful though to know ahead of time what exactly the amount is at which he plans to buy early coins, so we can maybe plan to open the exchange with his hoard of Bitcoins already in place ready to buy more Ixcoins than anyone but him actually has, so as to establish a clear floor on the value.

-MarkM-

Oh. I will read all the responses since my last posting, but I just checked out the bounties.

The creator of ixcoin really is some sleezebag, not only did he just do some minor modifications to bitcoins and is keeping a whole lot of the ixcoins to himself, but he also wants to rely on everybody else to do the dirty work, ie. create software, like a ixcoin <> bitcoin exchange for instance, and how does he want to pay for this work? Drumroll... with ixcoins that he mined himself for virtually no cost.

Reminds me a bit about lazy students who has a student assignment and posts on a forum expecting someone else to do all the work for them. If the creator of ixcoin at least had taken the time to sweat over some serious code himself, it would at least from me be given more respect.

But anyone's free to start a new blockchain, so let's see how it develops!

There are several mentions in the Something Awful Bitcoin thread about starting a "Gooncoin" blockchain.  A lot of them believe that Bitcoin has no future because anyone can clone it and (according to them) devalue the original.  I don't buy it, but I'd like to see them take a shot at it.

I'll call my cryptocurrency FailCoin. It'll be even better, because I'll make the mining reward 97 coins.

So give away 1 coin per block and let maxint be your ceiling. Those two factors combined would give you a LONG time before you have to worry about inflation stopping... And by then int64 might seem as quaint as int defaulting to 8 bit is to us today