Topic: [BT3] 5,000 Testnet Bitcoin bounty for Bitcoin Testnet Pool - page 3. (Read 2564 times)

Could this become an alt-coin in it's own right then, and have an associated trading value?

We'll see how it goes, I'll keep an eye on it. If it disconnects for a moment it will only be because I've tweaked something and restarted the p2pool instance. The miner should reconnect itself if that occurs.

Running great! Sure beats solo mining!

EDIT: Send me your testnet address and I'll send you the bounty!

Sorry, should have clarified (edit: updated my first post). Standard p2pool procedure, i.e. use your bitcoin address as username, password doesn't matter. Your share of each block ends up at the address like it would if you had solo mined.

I'll try it out for sure! How do we get the coins we mine?

EDIT: I get it, I'm using my testnet address as username. :-)

I've put a p2pool pool up, happy to leave it running on BT3 for some time. Will be a good opportunity to tune the p2pool server if I can get a few people using it!  

Server: mine.procrypto.com
Port: 19332
Stats: http://mine.procrypto.com:19332/static/
Username:
Password: (doesn't matter)

Coins will end up at your address as if you'd solo mined them.

I was generalising the difficulties experienced by start up alt-coins and the problems that they needed to deal with. I didn't mean to imply that you couldn't 51% the testnet. I meant to refer to the problem with terracoin where someone came with far more then 51% of the hash power of the network and brought confirmations to a standstill. I believe Bitcoin Testnet will reset the difficulty if no blocks have been discovered for more then 20 minutes.

What do you mean by that?

That opinion is changing. Many are starting to realize the value of a bitcoin testing ground for bitcoin that goes beyond the simple mechanical basics of the blockchain. Things like Scripting and OP_EVAL codes which are disabled in Bitcoin but enabled on testnet need to tested in a social economy where individuals have a monetary incentive to try and break things or steal things or develop things. As testnet-in-a-box allows developers to have a stable low difficulty testnet- so the main testnet is no longer needed for that sort of controlled testing.

It can also not be entirely 'reset at will'. What you mean by "reset" is that the genesis block would be changed and would require an update to the client that everyone in the bitcoin universe (or at least a majority) would need to upgrade to. The reason why I proposed calling this BT3 is that it is the third version of Bitcoin testnet. Even with a client upgrade, we can still stay on BT3, we can't be forced off of it, and any other upgrades to the bitcoin client can be included.

The brilliance of using Bitcoin Testnet as an alt-chain is that non of the intelectual energy that goes into alt-chains needs to be wasted on reinventing the wheel: difficulty algo's, 51% protection, basic things that Bitcoin has already solved. Developers on Bitcoin testnet can plunge right into a secure and stable chain.

apparently they are being considered to become the next steady alt-coin.

Why would anyone want to mine on testnet if they are not bitcoin devs? It can be reset at will, carries no value and isn't intended as anything but a sandbox..

I'm offereing a 5,000BT3 Testnet coin bounty for the first person to set up a Bitcoin testnet Pool so people can mine testnet coins without needed to solo mine. Now that the difficulty is really ramping up fast- pools will become more and more important for people to mine Bitcoin Testnet Coins.

When I say BT3 I am referring to Bitcoin Testnet (Version 3). This is the standard testnet built into every Bitcoin client.