Topic: [ANN][SIM] Simcoin - A Simple Coin - page 7. (Read 157678 times)

Is account to account transfer available?  I have some Nxt I'd like to trade if anyone is interested, and I'd prefer to skip the the rigamarore of transfer, trade, transfer, trade.

PM me if this is possible and if you are intersted.

will perhaps snap up a few more then

Because the developer put on an exchange only for that purpose so you can trade simcoin
before is out and then when completed redeem the real coins in your wallet.

edit... i wasn't aware this could be traded already.

Try here!
https://simxchg.com/

Wait a minute... Where can I buy into this?!

Progress report

Nice, we're back at the IPO price

By the way, anyone who is dumping now gives up his right to complain about the distribution later.

And it's a great opportunity to buy for people who missed the IPO! I don't mind if most of the money will end up in the hands of a few true Simcoin believers – they will deserve to get rich for being patient and supporting this project.

And those who dumped so close to the core release will feel really stupid pretty soon



--

This week I was still sick, but not as bad as before, so managed to do some work.

I am finalizing the new, simplified bootstrapping downloader and making a tool to test it, will release it in a couple of days and we will be able to test transactions downloading in real networks. I am particularly interested in wi-fi and mobile connections.

I also decided to start using the IPO money – what's the point of having it if it just lays there and doesn't work? I will use it to solve at least some of the problems that affect my productivity.

I am also starting to look for a good Android developer to do Simcoin's mobile wallet. The app should be able to work with SQLite and send/receive UDP packets.

--

Many coin developers either quit or failed since Simcoin started. I am still here and I still haven't found any major flaws in my approach. So we'll see.

Of course. I do cross-hdd and remote backups daily.

I hope you have several backups
of the work you have done up until now?!

Progress report

The recent streak of bad luck is getting uncanny... It's almost like the universe doesn't want me to finish the damn thing

This week I was seriously sick, like I haven't been in several years. A nasty virus crawled down my throat and ate everything it could there.

Then it crawled up my nose and instantly turned my head into a pumpkin. And judging by the color of my eyes – into a Halloween pumpkin.

And on Saturday, when I was finally feeling better, my XP started crashing on boot!

Have you ever seen a green screen? It's like a regular blue screen, only green. The crash happened while XP was showing its own logo, so I guess it changed the system palette and blue became green. Psychedelic...

So I spent half of the day trying to revive it, then started installing XP with "upgrade" option and the crash happened again, so even installation couldn't continue...

But after reboot XP finally figured somehow what needs to be done and installation restarted. I thought: “well, here go all my programs and settings for the last 7 years, it will probably just overwrite everything now”. But no! It was smart enough to figure everything out, and the only thing I lost is my IE turned back to version 6

So, folks, I am really trying, but sometimes life just sticks its fat ugly ass right in the way!

As said, this topic is pointless as there is no technical description or poc.

Bingo!  (Guys, this dev gets it.)

NxtChg, I've been working on a side crypto project for a while.  I'd like to compare notes and if Simcoin is close to what I've been rolling around in my head (since 2011, no less) and if you might be interested in a co-developer, I think we could benefit one another.

I just found out about Simcoin a week ago, so I literally have no stake in this coin.  Still, I am interested and if you think like I think, then I'd like to explore the possibility of unifying, rather than competing.

PM me and we can talk.

Because he is detached from reality.

Quote from ed25519 website: "a quad-core 2.4 GHz Westmere verifies 71,000 signatures per second".

This is a highly optimized version of ed25519, probably the fastest signature algorithm, doing batch verification on top-notch hardware.

So your average server won't even be able to verify 100 K signatures per second, let alone do something else.

And if you try to distribute accounts, i.e. nodes store only parts of the ledger, you will immediately sacrifice security and get yourself a nightmare of doing transactions with sender and recipient being on different parts of the network.

So, as I said, anyone who claims that a decentralized, trustless system can do 100 K TPS is either incompetent or lying.

I have no idea how Fuseleer can make such a claim and still maintain an efficient, ACID compliant system.

Sure you can find a way to process that much data, that fast, but it has to come at the expense of one or two of the requirements.  I hate to criticize someones work without talking to them directly, so I will assume they've found some black magic to work in eMunie. If it can reliably do what they hope it can do, then they've likely solved some really important problems in CompSci.

Because there is no such thing as "free lunch". Let me give you another example.

Designing a 5-storey building is relatively straightforward and easy task.

Designing Burj Khalifa, on the other hand, is a nightmare - every detail becomes a huge problem: water pumping, sewage, air conditioning, heat, dust, window cleaning...

Same goes for when you actually try to engineer a coin. You can't just magically wish something into existence, you need to design and build it, and there is a big difference between 100 and 1000 TPS.

Making wild claims detached from reality is easy. Heck, I can promise you right on the spot that Simcoin will do 12 M transactions per second, while simultaneously rubbing your neck and feeding you ice cream! Why not? In an imaginary fairy-tale land we can do anything!

So if you are into this kind of stuff, please proceed to eMunie forums. Here this pointless discussion is now closed.

I think you answered it, 'why not?'. If the design is flawless, cost is the same and it works, why take the inferior route? I can't think of any reason why the ability to scale past the foreseeable future is a bad thing if there are no negative impacts on the present. Of course, we have to wait for the details before coming to any conclusions but disregarding it because it doesn't solve a problem that exists today but may in the future seems irrational.

I also think that with decentralised platforms in combination with the internet and dacs, a potential exponential increase in tps isn't dismissable.

Because there are other factors, like adoption rate, for example, which makes incredible TPS rates moot.

It's like building a giant airport for a small town with a single plane just because "why not?".

I don't understand. Why does its application on today's world have any real relevance? I would have thought that if someone is making these claims, we would embrace them (wait for proof of course) but not question its usefulness.

In today's world, there are countless incentives for micro payments and a massively unbanked population. I say, the more transactions the better, as todays tps will be negligible in the coming years.

An analogy i could think of was, if we could harness the energy of the entire sun, why wouldn't we do it? Sure, today we don't use a fraction of that but it would enable so much production and new doors would fly open for future prosperity. Only obtaining enough for powering the world today would be missing the point.

What I'm saying is, if what Dan has said is true (again, no proof right now) we should all embrace its potential and critic its design, not its usefulness.

Exactly. To quote myself

Didn't read the article but such notions are a bit pointless.  Benchmarks are nice but transactions executing that fast are, well, unnecessary.  For context, 100k transactions a second (tx/s) is the equivalent of 8.6 billion transactions a day, or about 1.1 txs, per human, per day.  I have no clue how many financial transactions occurr each day, but when you consider that these transactions are distributed across 10's of thousands of currency mediums and processors, I can guarentee that no one system processes money that fast.

In fact, if memory serves me correctly, VISA processes about 25k transactions a minute (or 416 tx/s).  If you ask me, that's a reasonable benchmark.  Yes, it's always good to be fast, but you can also optimize to a point where any more time is a waste of effort since it's not necessary.  Spend that precious time
Solving other important problems instead of working on numbers that only sound impressive but offer no real value (again, after a certain point.)