Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 42. (Read 128605 times)

No need, this is the condition in which GRouPcoin has ended up now that DeVCoin has sprung from the tests done using the GRouPcoin code.

Of course it is still feasible to use GRouPcoin to continue development of some of what DeVCoin no longer bothered trying for once it realised what it actually wanted was possible. But in the meanwhile GRouPcoin just keep chugging along as a blockchain different from Bitcoin only in that the 50 coins per block never changes and never ends.

-MarkM-

Edit: oh wait, no ceiling on number of coins? That would have to be settled. I don't think we messed with ceilings yet, and int64 only goes so high in any event so would itself impose a ceiling...

You would have received a lot more mining power if you had support merged mining from the start:

http://dot-bit.org/Merged_Mining

It doesn't necessarily need new features (a la namecoin) to be meaningful. This is part of the coolness of open source, if you think something else will work better you're free to modify and distribute those changes. In this case we have someone who's decided that a brief introductory period of crazy steep inflation would be better since we get to the much-touted deflationary part of the curve sooner. I've considered creating the opposite: a variant where inflation occurred so slowly and over such a long span of time that it would be highly unlikely for the increase in supply to ever outpace the increase in demand. Someone who believes inflation is the way to go might create a fork in which nSubsidy never halves and there is no enforced ceiling on the number of coins.

Just because it wasn't a massive feature-packed fork doesn't mean it's not worthwhile. If you don't think a steep but brief inflationary period would be a beneficial change, then don't use ixcoin. If you think bitcon's curve has the wrong shape, duration, etc. then it's an easy matter to change a few key numbers and reshape the graph to your design. Saying this fork is worthless, profiteering, gluttonous, etc because the changes made aren't substantial enough is like arguing that bitcoin wasn't a substantial change because it's deflationary. Sometimes changing a single thing is a big deal.

Also, assuming any of the bounties on the wiki site are real and will actually be paid, it seems to add up that the original 580k that were mined before release are being used as rewards to help move ixcoin's infrastructure forward. Since ixcoin and bitcoin use identical RPC, any products developed for one should work for the other with little to no modification. If an ixcoin bounty leads to the development of something that can be useful to bitcoin then it has helped the bitcoin cause (and vice versa).

No one is stealing anything from anyone. Not any more than beertokens, weeds or any of the other miscellaneous feature-identical branches of bitcoin have anyway.

Edit: Oh, and since such forks tend to be lower difficulty (even lower than namecoin usually) they also make mining more accessible. BTC and NMC both have difficulties so high that CPU mining is more than unprofitable, it's flat out impossible. Let the casuals mine the forks and those of us with dedicated rigs will still mine BTC. There's nothing wrong with forks, we just need a good exchange to support them all.

No, he is quite right, it is like that evil Santa guy, draining vast amounts of resources from grownups to finance a bunch of stupid toys for children, when children don't even have jobs for gosh sakes so are the last people on earth that deserve any resources! Sheesh!

-MarkM-

I have 300 ix coins already  

Nope, no other reason. The +580,000 coins that he mined before he even made his project public will stay his.

I wonder when buttcoin.org starts his own chain. i would mine for that!

I tought of this weeks ago. I wondered for myself, how long would it take for someone to make a new block chain, then get a head start with software and services for a quick 'get rich' scheme? I read in a wiki some weeks ago about which properties a new block chain could have. But here is Ixcoin, with no added benefit over bitcoins. In the future we will probably see a lot of different cryptocurrencies. I also see that http://www.ixcoin.org/ is a complete ripoff of bitcoin.org, at least with a first look. I imagined that the ones coming out with a new blockchain would make it more polished, and have more services already ready. As already pointed out, bitcoin is in it's infancy, so the mere purpose of ixcoin is ofcoure enrichement of the early adopters. If we say that at the moment one ixcoin is worth 0.00000001 btc, and I buy 50000 of these now for that price at 0.0005 btc, and the price rose to say 0.01 btc for 1 ixcoin, my initial 0.0005 investment would turn into a 500 btc, which is about 5000 USD with the current prices. And of course, the earnings would be gigantic if it reached parity with bitcoins. I am sure that stores now accepting bitcoins would easily accept also ixcoins, as I guess few modifications would be needed in the system.

But please, tell me if there's any other reason for this new block chain but personal enrichment.

And also, how do you feel about ripping of the entire (at least parts from the looks of it) bitcoin.org site? I don't know if that's allowed, or what license is used on that site.

So basically, this new cryptocurrency comes with no new features, so basically it is just profiteering gluttons piggybacking on the bitcoin community?

Seriously?  You think a fork with no added features is going to divert more than a trivial amount of resources from Bitcoin?  Getting mad over this is just silly.

When you say point it to ixcoin.exe what do you mean? this is what I have so far using poclbm:

ixcoin.conf:

rpcuser=joe
rpcpassword=blow
server=1
maxconnections=60
rpcport=8337

miner settings:

start /DC:\bitcoin\poclbm_py2exe_20110428 poclbm.exe --user joe --pass=blow --host 192.168.1.10 --port 8337 --device=0 AGGRESSION=11 BFI_INT WORKSIZE=256 --verbose

I'm using DiabloMiner. 8338 is the RPC port for mining clients.

If I am using guiminer would I put the port as 8337 into the mining settings?

What miner are u using?

Sex is free too, but rapists still exist.

You send me bitcoins (link in my sig).  I remember your username in my head along with the amount of notes you bought.  They can be redeemed at anytime by simply asking me to forget your name.

Current price, 5BTC. Hurry, they go up to 10BTC in 2 more hours and 10.1BTC by tomorrow!!!

I agree, we need more coin-for-coin exchanges. I started working on an exchange once upon a time but had too many problems with Dwolla and C# not playing nicely... Perhaps I could modify what I've already got to serve as a BTC/NMC/IXC/GRP/DVC/MBC/etc exchange...

As for current value... While I see no reason to tie USD values to difficulty, I think difficulty could be a great tool for estimating the worth of coin-to-coin exchanges... IXC diff is currently 4, BTC diff is currently 1888786.70535 so it seems to me that 1 IXC should be valued somewhere in the neighborhood of 4/1888786.70535=0.00000212 BTC (rounded to the nearest satoshi). Do the math the other way to find that 1 BTC ~= 472,196.67633750 IXC.

Of course difficulty 4 won't last for long, even with a measly 2 GH/s for the whole pool, so it may be too early to attempt such a valuation.

Of course, we have namecoin to base our math on too... Already-existing resources have shown that historically NMC is valued at about 2/3 (67.9%) of what this ratio says it should be (on average). The argument that namecoins have intrinsic value because of the service offered by the network might be slightly true, but the bitparking exchange has a volume much higher than the actual NMC spent on registrations, so they're likely being traded by speculators much the same as BTC. If we apply this fractional value to IXC we get the following:

1 BTC ~= 320,621.54323316 IXC
1 IXC ~= 0.00000144 BTC

Yeah let's redo the math after a few weeks worth of difficulty updates

In order for you to create a new currency, the old currency has to first be broken.

Ouch!!!!

But it's not ripoff when the source is free

I really think you should do this.  Also you should come up with a config file for multicoin.  I think not too far down the line we are going to have a multicoin like client that works on multiple block chains at the same time and multiplexes one port.  You should position ixcoin for this now while it is the easiest to get everyone switched over.

So, this is a bitcoin clone, with no added purpose, nobody accepting it for anything and no place to buy or sell it.  To top it off he's here on the bitcoin forum trying to steal miners and developers from a potentially awesome project?  C'mon man...  This seems horrible for bitcoin in my opinion.  How am I supposed to talk anyone into accepting bitcoins when there are 5 million bitcoin clones out there all trying to compete with the project they ripped off?

You ripoff artists willing to do anything to make a quick buck off the backs of good people and great ideas are basically attacking the bitcoin that we all love so dearly.  I don't see how people like you who are creating competing currencies using the same exact software could be looked at by this community as anything other than the enemy.

Creating a fake japanese sounding name and using that avatar was awesome though.  If you weren't being serious about this, it would have been an awesome joke.  Now it's just a bad joke.

This likely happens because of wx widgets. I think it was because of version 2.9 that the gui doesnt show up

Same here.