Topic: [GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT] - page 23. (Read 225833 times)

Hi.
I see a lot of proposals to change the code, and it is the only way to prevent a disaster. see for example what happens to Infinitecoin. When coins of low price and reward POW mining becomes unattractive, the value of the power network, which protects the network from attacks falls to 0. At this point, and might the fork. The hybrid system allows POS & POW coin to survive even at the minimum POW component. So developers should hurry.

@CartmanSPC

Potcoin recently went POSv2 ... actually a nice stakes network so my pick of flavour to go with ... might need to tweek time to stake to just a few hours ... seems to help ... coins with min holds of days/weeks are not worth running the client for most people until the time to stake comes up.

BLK has some new flat rate per block stakes ... also of interest.

checkout HAL ... similar to BLK flat rate but hybrid ... for an obscure coin the HAL network is solid.

@ozboom TQ

Hi BtcNat,
I believe the coin in question is Fractalcoin, and the guy behind the move from PoW to PoS on the Nxt system is runpaint:
https://bitcointalk.org/index.php?topic=650173.1200

I don't see a need for this? Other coins have transitioned over to POS without having to do this. Why would we want to go through that messy process?


Potcoin recently went POSv2 somewhat successfully. Actually it was kinda a mess because they forgot(?) to include all the POSv2 code into the client before the switch (can't imagine!) and did not have a testnet to try out the changes but in the end they are now full POS.

There really does not need to be that many clients online to keep the blockchain going in POS (as I have seen with potcoin). One wallet can have multiple addresses or...have a low or user selectable (ideal?) nStakeCombineThreshold amount.

...but yes, having enough wallets/addresses staking is important and with the low level of interest in GLC I can see that being an issue.

POS is a viable option
if and only if 300+ clients are willing to go online

anyone have the numbers?

re: Nxt Monetary System

proof of it works first

anyone have the proof?  ie what coin has done this and successfully

+1 to that DH.

On the same note, I just read an interesting discussion on migrating an X11 POW coin to POS on the Nxt Monetary System.
This is way too technical for me to understand in detail, but I find the prospects fascinating.
Upgrade the algo and gain massive exposure from using the Nxt platform.
I have been following Nxt for about a year now, these guys are good...

Well you know what they say, if want anything done...

I think it would be wise to reopen the discussion on changing from scrypt POW to POS.

Personally I believe going pure POS would be the best option for both implementation and adoption. After reviewing the current GLC code base and seeing how other coins have gone about transitioning from POW to POS, I would advocate the method of moving to a fresh blockchain with coin redistribution through a trusted exchange partner.

We can eliminate the somewhat major work involved in upgrading and patching the current client by following this method:

1. Enlist a trusted exchange platform to handle the transition (i.e bittrex.com has provided this service for several coins).
2. Exchange accepts deposits of existing GLC to user accounts.
3. Give ample notice to the GLC community of the transition.
4. Users will have a period of time (i.e 14 days) to deposit their GLC. Any coins that aren't deposited will NOT be included in the new chain.
5. After this time the exchange notifies the amount of coins deposited for conversion.
6. The new POS code base is established with the first block including the aforementioned amount of coins ready for distribution.
7. The first block is minted and coins are distributed to the users by the exchange, equal to that of their deposit.
8. The new client is then distributed to the community and POS is now active.

The main issue some might have with doing the above is the fact there will undoubtedly be people who'll miss the timeframe for depositing their old coins for conversion, which means they would lose their coins as they'll no longer be valid on the new chain. I don't foresee this being a huge issue, the consequences of this happening previously have been negligible and frankly if you're not paying attention to your investments, especially with the nature of cryptocurrencies, then that's rather stupid. So yes the new chain would likely have a lower initial supply because of the inevitable lost coins of inactive members, which can be seen as a positive for both scarcity and community participation.

Also as icodestuff suggested some pages back we can also develop a multipool that pays out in GLC therefore catering for miners of any kind whilst offering buying support on exchanges.

Here's my suggested specifications for POS:

Block Time: 60 seconds
Stake Interest: 4%
Minimum Coin Age: 8 hours
Block Maturity: 50 blocks

Switched explorer to 1.5.4, however whenever something is called over RPC, the wallet crashes with


or


any ideas?

(will revert to 1.5.3)

Globalcoin mining is now enabled on ScryptPool.com

https://www.scryptpool.com/pool/GLC


A node is also available

addnode=stratum.scryptpool.com

Digitalholdings, a GLC hero has returned! <3

It appears the 1.5.4 release is buggy. I've tested both 1.5.4 and 1.5.4.1 QT wallets, both crash when issued RPC commands.

I'm guessing this is why the remaining mining pools, exchanges and explorer are all still using the previous 1.5.3 version.

Here are download links to the 1.5.3 client if you'd prefer or need to run it (i.e for solo mining).

Windows: https://mega.nz/#!M1wgHbIJ!c4RayOQc0VKU1MwIbMRVC7vCJKLCAd1jWfoDCeAolNw
Sha256: 35f7c105cf2dee15f6c015ed760ad0f9ef8237957f93a7bea2560f2cf14c1fa3
MD5: 4086776924427bf01e9a1716cfdc5618
VirusTotal: https://www.virustotal.com/en/file/35f7c105cf2dee15f6c015ed760ad0f9ef8237957f93a7bea2560f2cf14c1fa3/analysis/

Mac OSX: https://mega.nz/#!M4hzxIqL!9E6hB2-wm0BLMvtFT0h5GutGwk_oKQnHOYTzAgUce_k
Sha256: a6eb77421852c53e939294f139bf80aeca3b0386600cb797170051f84e912128
MD5: 0fdf3c2a32f14f1a9d432cf625f57e17
VirusTotal: https://www.virustotal.com/en/file/a6eb77421852c53e939294f139bf80aeca3b0386600cb797170051f84e912128/analysis/

Source: https://github.com/DigitalHoldings/Globalcoin

You may also need to setup port forwarding on your modem/router if you're having trouble syncing. Allowing TCP connections on port 55789 will allow the 1.5.3 client to find nodes.

by capturing the coins
because imposing an export tax means tons of coins stay on deposit (knowledge/control of the market)
(also how long before cryptsy owns 10-20% of popular coins)

SAVE-ing free withdraw coupon for my GLC

Withdrawal fees increase but trading fees are now 0%?  They are just trying to capture volume and keep volume.

cuz cryptsy could careless about clients
https://www.reddit.com/r/Bitcoin/comments/3lnipw/cryptsy_increases_withdrawal_fees_to_05_with_zero/

mean while a global shot for you

Why is there an additional fee of 0.05% upon withdrawal from the stock exchange?

The dev posted this to Facebook 17 hours ago:

Working on a "Direct Debit" Style payment system for users to set up planned payments plans. This should be implemented in the next update.

Block 1442000 is the next subsidy drop. 7020 glc a dayfor following 140. So 0.58968 btc at today's levels for all  glc to be minted over next 140 days. 

born 2 years ago
low but stable market cap
solid POW scrypt algo with low inflation
okay hash power

what's to update?
yeah maybe some fork talk

other than that it is building a Brand and a Team
there is potential here that most miss

It is necessary to update !!! Maybe add a function POS !!!

Both dead and alive