Please be careful. This version is extrimely slow in sych.
+ Daemon consumes about 4Gb of RAM. Too big for a simple net node.
+ Daemon consumes about 4Gb of RAM. Too big for a simple net node.
are you involved in this project?
Topic: [BCN] Bytecoin. Secure, private, untraceable since 2012 - page 410. (Read 1070067 times)
are you involved in this project?
I have found that on https://bytecoin.org/ today:
I think all of us here should update our binaries.
Quote
04/02/2014
Updated windows binaries is now available
Release notes 0.8.3 :
- JSON RPC for wallet;
- fixed bug with blockchain storing;
- fixed bug with correct display of transfer's change;
- bug fix in simple wallet.
Updated windows binaries is now available
Release notes 0.8.3 :
- JSON RPC for wallet;
- fixed bug with blockchain storing;
- fixed bug with correct display of transfer's change;
- bug fix in simple wallet.
I think all of us here should update our binaries.
Please be careful. This version is extrimely slow in synch.
+ Daemon consumes about 4Gb of RAM. Too big for a simple net node.
and some words about network state from developers from the same forum:
https://forum.cryptonote.org/viewtopic.php?f=2&t=10#p45
Quote
I can add that we're pretty sure that the complexity level won't grow exponentially, so the coin should keep going even when the number of users is high. Once again, Bytecoin has been doing pretty good for the last years. I don't know the current figures, but I'd say several tens of thousands of active users with continuously ongoing transactions.
https://forum.cryptonote.org/viewtopic.php?f=2&t=10#p45
so there is some elite bitcoin of things developing next gen blockchains out of sight? gosh who would have thought of that... much wow such disruptive
whats next? biological trustless nano ledgers ?
Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
You know what people say about guys who are trying to prove they are smart using BIG TEXT LIKE THIS? Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
Interesting, and what are people say about this size?
So you should be careful using it - someone might think something
I have found that on https://bytecoin.org/ today:
I think all of us here should update our binaries.
Quote
04/02/2014
Updated windows binaries is now available
Release notes 0.8.3 :
- JSON RPC for wallet;
- fixed bug with blockchain storing;
- fixed bug with correct display of transfer's change;
- bug fix in simple wallet.
Updated windows binaries is now available
Release notes 0.8.3 :
- JSON RPC for wallet;
- fixed bug with blockchain storing;
- fixed bug with correct display of transfer's change;
- bug fix in simple wallet.
I think all of us here should update our binaries.
Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
You know what people say about guys who are trying to prove they are smart using BIG TEXT LIKE THIS? Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
Interesting, and what are people say about this size?
Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
You know what people say about guys who are trying to prove they are smart using BIG TEXT LIKE THIS? Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
1million is nothing compared to 184 billions of total coins
and to be honest, all our thoughts about the community are just guessworks.
even so i continue mining and trading and hope one day 1BCN will be equal to 1BTC or more.
and to be honest, all our thoughts about the community are just guessworks.
even so i continue mining and trading and hope one day 1BCN will be equal to 1BTC or more.
Nothing? We are talking about bilions, not trilions. 1 000 000 is 0.00000542 of all BCN's, so 1 year with current reward/difficulty can theoretically give with one of my machines cca 0.0005 of all BCN's . There are not much altcoins which can be mine so fast after 2 years.
1million is nothing compared to 184 billions of total coins
and to be honest, all our thoughts about the community are just guessworks.
even so i continue mining and trading and hope one day 1BCN will be equal to 1BTC or more.
and to be honest, all our thoughts about the community are just guessworks.
even so i continue mining and trading and hope one day 1BCN will be equal to 1BTC or more.
Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.
imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.
and some words about network state from developers from the same forum:
https://forum.cryptonote.org/viewtopic.php?f=2&t=10#p45
Quote
I can add that we're pretty sure that the complexity level won't grow exponentially, so the coin should keep going even when the number of users is high. Once again, Bytecoin has been doing pretty good for the last years. I don't know the current figures, but I'd say several tens of thousands of active users with continuously ongoing transactions.
https://forum.cryptonote.org/viewtopic.php?f=2&t=10#p45
Some quotes from cryptonote forum, from one of developers:
https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61
Quote
We had good reasons to be in stealth mode for the R&D phase, just like the Bytecoin's devs. You see there are some forces in this world, which do not agree with us and our attitude to the world and the economy of the future. This also basically answers your second question.
What we're doing here is trying to envision a future with a completely different economic principles. A world of higher anonymity, less involvement of government and corporations in the ordinary lives. This is something that we strongly disagree with currently. And finally, it is really rewarding just to be able to work on such technologies (at least for me). So we're doing this to offer new approaches to make the advent of decentralized economy and cryptonomy possible.
Putting it short, we're indeed a group of experts (just like stated on the website). We're also dreamers as you've probably noticed. We've been making our research to make our dream come true. Hopefully, one day I will be able to be more specific.
What we're doing here is trying to envision a future with a completely different economic principles. A world of higher anonymity, less involvement of government and corporations in the ordinary lives. This is something that we strongly disagree with currently. And finally, it is really rewarding just to be able to work on such technologies (at least for me). So we're doing this to offer new approaches to make the advent of decentralized economy and cryptonomy possible.
Putting it short, we're indeed a group of experts (just like stated on the website). We're also dreamers as you've probably noticed. We've been making our research to make our dream come true. Hopefully, one day I will be able to be more specific.
https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61
Actually it is Wed, 04 Jul 2012 05:00:00 GMT, Independence Day
Right, I wonder why the site doesnt use the time encoded in the URL? Anyway. where did you get that input (1341378000) from?
here's the answer
Does this coin really start from July, 2012？？？？
Yes, it seems to be truth. First of all, it is noted on their site:
Quote
The first block was founded 07/04/2012 05:00:00 (GMT).
Then I've used "print_block" command in daemon and what I get was (it's not full version):
Code:
print_block 1
block_id: <13a537627c969dfda1bf6a2688694aa139f66d643073d49afc5cdd75d3c1e400>
{
"major_version": 1,
"minor_version": 0,
"timestamp": 1341378000,
"prev_id": "a742885cb01d11b7b36fb8bf14616d42cd3d8c1429a224df41afa81b86b8a3a8",
"nonce": 4122499893,
"miner_tx": {
"version": 1,
"unlock_time": 11,
There's line "timestamp": 1341378000, which is Wed, 04 Jul 2012 05:00:00 GMT
Actually it is Wed, 04 Jul 2012 05:00:00 GMT, Independence Day
Right, I wonder why the site doesnt use the time encoded in the URL? Anyway. where did you get that input (1341378000) from?
So if there's 150 billion coins in circulation, then more than 80% of the total supply has been mined already. What happens when block reward drops to zero? Will there be a perpetual debasement to keep paying miners?
That is the question - and another one - what time do we have until <1 per block reward. It is hard to count exact time because of unusual block rewards, but are we speaking about years or more than 10-20 years? 
So if there's 150 billion coins in circulation, then more than 80% of the total supply has been mined already. What happens when block reward drops to zero? Will there be a perpetual debasement to keep paying miners?
Actually it is Wed, 04 Jul 2012 05:00:00 GMT, Independence Day
Ok, so where do you get an input from? (1341378000 is today in UNIX time)
I was intrigued with what nakaone said regarding the number of coins in circulation. So I decided to make a research.
The formula on the Bytecoin's website was not prepared for easy calculations, so I decided to play around with it.
Here are the constants:
We can omit M to calculate the sequence:
So bn should be like this:
Which leads us to a new representation of the original formula:
These could be easily used in Excel.
Current block n = 447,800
M = 2^64 -1
q = 2^(-18)
So there should be around 15 104 430 719 645 400 000 atomic units. Dividing by 10^8 we end up with an aproximate number of current BCNs: 151 044 307 196.
I think this number is rather close to the truth considering that the net works for almost 2 years and that estimated number of miners is about 3,000.
The formula on the Bytecoin's website was not prepared for easy calculations, so I decided to play around with it.
Here are the constants:
We can omit M to calculate the sequence:
So bn should be like this:
Which leads us to a new representation of the original formula:
These could be easily used in Excel.
Current block n = 447,800
M = 2^64 -1
q = 2^(-18)
So there should be around 15 104 430 719 645 400 000 atomic units. Dividing by 10^8 we end up with an aproximate number of current BCNs: 151 044 307 196.
I think this number is rather close to the truth considering that the net works for almost 2 years and that estimated number of miners is about 3,000.
How do you know?
Using the number of coins in existence and using the formula to calculate the general reward per block, I arrive at roughly 150 days total network age, considering the average block interval 2 minutes (which is not affected by hashrate influx like Bitcoin because dif is retargeted every block according to website). My math abilities are pretty primitive, so you might have a better approximation at hand. Is there any way to verify the network age independently from guessing based on these numbers? Lets say by checking timestamps on blocks or earlier releases of the client, timestamps on references to the bytecoin network from 2 years ago,..?
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