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Topic: FreiCoin (FRC) Fork WITHOUT 80% Of Coins Given To FreiCoin Foundation (Read 20795 times)

hero member
Activity: 490
Merit: 500
I have a few ideas. For example, addresses. Instead of a clunky to remember, hard to type address, why not use something like this?

someguyswebsite.com/wallet
...

Those clunky to remember addresses are the hash of a public key. The public key is part of a key pair composed of public and private key.

http://en.wikipedia.org/wiki/Public_key

Good luck with your fork, it seems you will need it.


I think this could be doable if you implemented namecoins domain name registration into the system such that it registers "friendly" wallet names (alias) instead, then when you send coins over this network, it first detects if you are using a "friendly" name (alias) or an address, if you're using an alias then it does the lookup and sends coins to the registered address, otherwise it just sends to the address specified as is normal.  Use of aliases of course hurts anonymity further but that is not a big issue for everyone and the added perk to this system is that you can change the actual address behind the alias as needed which would make services such as pyramining and bitparking as an example much friendlier as they can lock in your alias but you can change the backing address as needed without making new accounts or going through a complex process to prove you are the actual owner in the event of some problem.

Incidentally freicoin with its generation model is uniquely suited for this since coins spent registering aliases are not lost in the aether.  Other coin systems such as bitcoin fail at this, but this could be overcome if alias registration fee's were sent to miners in the form of fee's so that the coins used to register continue circulation, so really any/all coins who wish to upgrade to this can do it without worry of the coin systems self-destructing their coinbase for this feature.
member
Activity: 70
Merit: 10
Expert Computer Geek
Who knows? You'd have to ask the people I'm buying from. Keep it low, please!


not for long imho!;-) $FRC grabbing cheapies here/\weeeeee
legendary
Activity: 905
Merit: 1012
Who knows? You'd have to ask the people I'm buying from. Keep it low, please!
member
Activity: 70
Merit: 10
Expert Computer Geek
why is FrieCoin so undervalued on the exchange?...i'm grabbing more down here!!!~keep it up/\ Grin Grin Grin
legendary
Activity: 905
Merit: 1012
That's my colleague, who goes by jtimon on these forums. This is me:

https://github.com/maaku/
legendary
Activity: 905
Merit: 1012
member
Activity: 70
Merit: 10
Expert Computer Geek

Freicoin foundation?

wots dat? /\ Grin
sr. member
Activity: 966
Merit: 311
May I ask you a two questions about FreiCoin?
- How long blocks is immature  or  need confirmation?
- Award for the block is constant?
Thanks.

1) 120 blocks need to be mined until maturity
2) The reward is not constant, but it is predictable. It starts out at ~250 per block, and linearly decreases to a steady state value of around 100 coins per block @ around 160000 blocks mined. Each block mined will always have a reward at least 100 until the end of time. For the actual eqn you can find it in the client sourcecode.
member
Activity: 70
Merit: 10
May I ask you a two questions about FreiCoin?
- How long blocks is immature  or  need confirmation?
- Award for the block is constant?
Thanks.
legendary
Activity: 1372
Merit: 1002
I have a few ideas. For example, addresses. Instead of a clunky to remember, hard to type address, why not use something like this?

someguyswebsite.com/wallet
...

Those clunky to remember addresses are the hash of a public key. The public key is part of a key pair composed of public and private key.

http://en.wikipedia.org/wiki/Public_key

Good luck with your fork, it seems you will need it.
hero member
Activity: 924
Merit: 1000
So I take this fork / 51% takeover of FreiCoin is now dead.

Well, I don't get it. TF apparently doesn't want it to take off.
What was his change to the code anyway? Why is it a problem that the foundation already has the coins? If moving these coins never makes it into a block there is no problem.

Read the thread... the answers are all there. If you want your own coin that has none of these features... create it. Right? Since the topic is dead might as well lock it and have you start a new topic about your super duper new coin without the 80% trust.
sr. member
Activity: 425
Merit: 262
I'm really not going to focus any time on this fork because I think the best approach would be a new cryptocurrency protocol. Feel free to submit pull requests through.

I don't think there's need to implement a new currency, unless you find a better encryption method than SHA-256 or scrypt or you find/think the current currency is not fair, price is manipulated by some early investors and hard to thrive.

I think the current BTC mode is acceptable, you can create new application to extend the use. I also like the idea to re-implement the protocol in other language than C++.
vip
Activity: 1316
Merit: 1043
👻
So I take this fork / 51% takeover of FreiCoin is now dead.

Unfortunately, it never got off the ground. It was impossible for it to work how it was coded. I really hope TradeFortress is done posting about this. It's very embarrassing for him. I'm not sure if hes completely unaware of that or this is some weird troll.

yup i agree never got off the ground, we still wait for the bins
I'm really not going to focus any time on this fork because I think the best approach would be a new cryptocurrency protocol. Feel free to submit pull requests through.
sr. member
Activity: 322
Merit: 250
So I take this fork / 51% takeover of FreiCoin is now dead.

Unfortunately, it never got off the ground. It was impossible for it to work how it was coded. I really hope TradeFortress is done posting about this. It's very embarrassing for him. I'm not sure if hes completely unaware of that or this is some weird troll.

yup i agree never got off the ground, we still wait for the bins
sr. member
Activity: 966
Merit: 311
So I take this fork / 51% takeover of FreiCoin is now dead.

Unfortunately, it never got off the ground. We're completely open to people that want to use our work to accomplish their own goals, as long as they do it competently. It was impossible for it to work how it was coded. I really hope TradeFortress is done posting about this. It's very embarrassing for him. I'm not sure if hes completely unaware of that or this is some weird troll.
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
So I take this fork / 51% takeover of FreiCoin is now dead.

There is still not enough hasing power overall to state any such conclusion. Any beefy BTC miner could probably do it himself for the lulz.
legendary
Activity: 1876
Merit: 1000
After thing about this issue a bit, the problem is the foundation ALREADY has 8 million Freicoins. We need to create a new coin, but I suggest something different.

Currently, all cryptocurrencies are based off Satoshi's bitcoin, with same or slightly modified protocols, and only some modifications (eg demurrage in Freicoin, block timings and distributions with other coins, proof of stake with PPCoin). But look at all the failed cryptocurrencies - we are essentially making a new Linux distro instead of actually making something new.

I propose making a new cryptocurrency from scratch and discussing and testing different ways to do it. Blockchain, hashcash-style mining, addresses, they're all one way to do things. There's bound to be better ways, and for a cryptocurrency to succeed we need to do it differently. Not blindly do things differently, but look at it and see which way is BETTER other than just creating a fork and modifying a bit of code from bitcoind.

I have a few ideas. For example, addresses. Instead of a clunky to remember, hard to type address, why not use something like this?

someguyswebsite.com/wallet
dicegame.com/lessthan512
192.168.0.12/lanpartydonations
wc6sbavw7fcotfgm.onion/order1274621
mywallet.bit/someusername

To verify those addresses, we could use a similar system to randomart. There's of course the attack where say you're on dicegame.com is compromised and the attacker changes the randomart displayed on the site for verification, but that's similar for bitcoin too. The coin obviously won't actually use http, it'll use it's own protocol, but will find addresses via DNS, tor, other darknets, etc etc.

Again, this is just one of the ideas I have about addresses. I'm sure if people think about it, experiment with some test code, we'd come across different ways, maybe better.

Another important thing is that the core development needs to be just that - core. Make the protocol extensible. Have headers, like HTTP requests. Over time, the community will enhance this currency by itself. For example, say a header called 'RETURN_ADDRESS: freewallet.org/ponies', say if you're betting on a gambling game and send an amount greater than the max bet, and you want returns in a DIFFERENT address (eg if you're withdrawing from an exchange) It's a nice thing to have, but it might not need to be in the core development. People will be able to add this feature, peers and nodes would implement and support it.

Take a look at websockets. Take a look at new IRC features and additions. If we make the protocol robust and extensible, the currency will involve by itself, and with the community and the users to make it last. There obviously would be a core set of guidelines - max cap of X coins, but if we discover a BETTER address system, maybe if someone wants to make it work with emails, they can code a module or extension, tell people and nodes to install and use it, and supported clients will use it automatically. Not supported? "Command not found. This command is part of coinemail, sudo cpm install coinemail".

Just some ideas. Can we do a system where transactions have a verifiable sending time? Use the hashcash mining system. A new "timecode" every 20 seconds (as it is not a block, it is not coupled with transactions, each timecode would just be a few bytes). Transactions would include the latest timecode as proof of when it was sent. First sent coins triumph in double spend attacks. Still vulnerable to 51% attacks, but again this is just one idea.


sounds like it will be too difficult to prevent hacking with all those 'features' built in..  

The reason bitcoin is popular is because of its 'simplicity' and security.  You could probably build what your talking about on top of bitcoin, similar to blockchain.info but with all the new address features and such.  but still have the bitcoin underneath providing the verification and security..  

KISS

legendary
Activity: 2282
Merit: 1050
Monero Core Team
So I take this fork / 51% takeover of FreiCoin is now dead.
vip
Activity: 1316
Merit: 1043
👻
After thing about this issue a bit, the problem is the foundation ALREADY has 8 million Freicoins. We need to create a new coin, but I suggest something different.

Currently, all cryptocurrencies are based off Satoshi's bitcoin, with same or slightly modified protocols, and only some modifications (eg demurrage in Freicoin, block timings and distributions with other coins, proof of stake with PPCoin). But look at all the failed cryptocurrencies - we are essentially making a new Linux distro instead of actually making something new.

I propose making a new cryptocurrency from scratch and discussing and testing different ways to do it. Blockchain, hashcash-style mining, addresses, they're all one way to do things. There's bound to be better ways, and for a cryptocurrency to succeed we need to do it differently. Not blindly do things differently, but look at it and see which way is BETTER other than just creating a fork and modifying a bit of code from bitcoind.

I have a few ideas. For example, addresses. Instead of a clunky to remember, hard to type address, why not use something like this?

someguyswebsite.com/wallet
dicegame.com/lessthan512
192.168.0.12/lanpartydonations
wc6sbavw7fcotfgm.onion/order1274621
mywallet.bit/someusername

To verify those addresses, we could use a similar system to randomart. There's of course the attack where say you're on dicegame.com is compromised and the attacker changes the randomart displayed on the site for verification, but that's similar for bitcoin too. The coin obviously won't actually use http, it'll use it's own protocol, but will find addresses via DNS, tor, other darknets, etc etc.

Again, this is just one of the ideas I have about addresses. I'm sure if people think about it, experiment with some test code, we'd come across different ways, maybe better.

Another important thing is that the core development needs to be just that - core. Make the protocol extensible. Have headers, like HTTP requests. Over time, the community will enhance this currency by itself. For example, say a header called 'RETURN_ADDRESS: freewallet.org/ponies', say if you're betting on a gambling game and send an amount greater than the max bet, and you want returns in a DIFFERENT address (eg if you're withdrawing from an exchange) It's a nice thing to have, but it might not need to be in the core development. People will be able to add this feature, peers and nodes would implement and support it.

Take a look at websockets. Take a look at new IRC features and additions. If we make the protocol robust and extensible, the currency will involve by itself, and with the community and the users to make it last. There obviously would be a core set of guidelines - max cap of X coins, but if we discover a BETTER address system, maybe if someone wants to make it work with emails, they can code a module or extension, tell people and nodes to install and use it, and supported clients will use it automatically. Not supported? "Command not found. This command is part of coinemail, sudo cpm install coinemail".

Just some ideas. Can we do a system where transactions have a verifiable sending time? Use the hashcash mining system. A new "timecode" every 20 seconds (as it is not a block, it is not coupled with transactions, each timecode would just be a few bytes). Transactions would include the latest timecode as proof of when it was sent. First sent coins triumph in double spend attacks. 3 confirms in 1 minute on average. Still vulnerable to 51% attacks, but again this is just one idea.

Please stop.
Thank you for your informative and compelling comment, galambo.
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