Topic: [ANN][SIM] Simcoin - A Simple Coin - page 34. (Read 157763 times)

Pretty quick action!

Started Simcoin organization and Main board.

https://trello.com/b/gscZWNn8

Since I am a noob in Trello, any suggestions would be nice

He-he-he, Trello is fun

Thanks, will check it out tomorrow.

What about having this in Trello, for easy public view and prioritizing?

For example, MSC trello:
https://trello.com/b/JLF7zlAF/communications

What a nice surprise! I'm gonna go choosing my Porsche now. Not necessary flying, Panamera will do just fine

As for the price speculations I think Simcoin is going to have at least 10'000 BTC market cap the first second after the exchange launch. It means 0.00001000 BTC per coin which is x28 return for IPO investors. And then only up from that price.

Ok, good luck

That's pretty much impossible.

But other than that, your scheme is very close. The mother account will be the Foundation account. It will know the password.

Also good idea to use automated fees, tied to this account. Not sure if it will be feasible, but I will think about it.

Some ideas for nodes reward:

- Creation of a "mother's account" at coin launch.
- The password of this account is unknown, random, and only software knows it.
- Fees go always to the mother account.
- Periodically nodes receive proportional or random rewards from mother account.
- If the account balance decreases, fees rise, if balance rise, fees decrease, automatically.

This would also allow bounty the account initially, to provide fees were minimal in the first months.

I do not know if it would be possible or secure, but would be a decentralized system. Perhaps this could be included into client software too.

Sorry for my English, is not my original language.

I don't know, I haven't found a good solution yet, so at this point it requires something like Simcoin Foundation.

But we can limit their powers significantly, so it can even be replaced if users vote so.

During the initial distribution some trust will be required. First, in me (I already control that share, so it's not a big problem), then in a trusted committee/foundation.

Once the initial supply is distributed the foundation will only live on fees and can be controlled by end-users.

Plus some stakeholders/services can run their own copies and support the network at least in part.

How to do that in a decentralised trustless manner?

This will require some significant changes... Again, will do if not too time consuming.

Withdrawals will be manual, so I can do some more checks if the amount is big, like IP matching, etc.

Also please add email verification before withdrawals (if you hadnt done that already)

Added into To-do list. Will do it for the exchange if it's not too time consuming.

Are you afraid somebody's looking over your shoulder or you don't use HTTPS for your mail?

No, you're right, it's not an ideal solution.

Yes, if you had an email set. Log out and you will see Reset link on the login page.

Can we change our pasword in simcoin.info?

Cross-post from https://simcoin.info/wiki/Node_Rewards

Node Rewards Proposal

Since there is no blockchain in Simcoin, there is no easy way to reward nodes.

I would like for them to be rewarded by transaction fees, but so far was unable to find a satisfactory solution.

My current idea is a separate piece of software that will monitor the network and reward nodes randomly if they are online.

Advantages:

* Much simpler core code, no need for complicated fee processing.

* Only nodes that are verified to act as decent members are rewarded (i.e. you cannot just create dead nodes and expect to be rewarded). The tool will use various metrics to make sure nodes are decent. This has nothing to do with consensus, it's only for reward. For example, ping should be low enough, uptime is good, etc. The reward will be proportional to node's stake and services provided.

* We can distribute significant part of 60% this way and it will be similar to Bitcoin's mining - a slow, inflationary increase in money supply for the next few years in line with demand.

* It allows to regulate network size and this is important. For Simcoin to keep its performance promises, the number of nodes should be reasonable (i.e. not everybody can be a "miner"). Something like 1000 active nodes. So by adjusting daily rewards we can regulate how profitable it is to run a node and thus regulate the size of the network.

* It allows to keep transaction fees very low, which is good for wider adoption and also makes them less vulnerable to price volatility.


This software can be run by anyone who wants to support the network, but will probably be run mostly by me and later by something like Simcoin Foundation, which will receive part of transaction fees to support the network.

We can also use Account Control feature to allow only limited amount of money to be spent on rewards daily and make it so that it can only be spent on nodes.

It might be a good idea to have a simple idea crowdsourcing system and to have it connected to the future simcoin.info voting system.

If you, guys, know good skilled people, invite them here.

Maybe not now, but once contests/bounties are actually announced.