[GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT] - page 34.

icodestuff

newbie

Activity: 44

Merit: 0

Quote from: orco#2 on February 24, 2015, 09:24:37 PM

Auxpow... It fixes security, but how does it effect the subsidy... I do not understand it.

AuxPOW is the proof of work function, nothing to do with subsidy. AuxPOW (Auxiliary proof of work) will effectively allow Globalcoin to be merge mined with another SCRYPT coin of higher difficulty, the mining hash rate of those that choose to submit work to both chains is then applied to GLC's network making it stronger.

Concerning the subsidy that would need to be a separate adjustment. Bringing block rewards down to just 1 GLC sounds good to me.

orco#2

hero member

Activity: 868

Merit: 1000

Auxpow... It fixes security, but how does it effect the subsidy... I do not understand it.

orco#2

hero member

Activity: 868

Merit: 1000

ahh, someone snatched that big sell order. If it was around in another wek I would buy it. If you have anymore seller, just list it on pay day, the 28th

crackfoo

legendary

Activity: 3486

Merit: 1126

Heya

Just FYI that we're mining GLC on our multipool: www.xpool.ca and miners have the option to keep their GLC when it gets mined just by entering your GLC address in your user settings.

Cheers!

orco#2

hero member

Activity: 868

Merit: 1000

Sound good. lets do it!

icodestuff

newbie

Activity: 44

Merit: 0

From cryptsy chat 5 days ago

Quote

Parts: GLC dev here

Parts: its up to the community to vote, ive been away for a bit due to my grandfather passing but im back and I will try my best to get GLC back near the top
Parts: can always buy GLC its cheap and when i drop x11 on that shite Wink

and drop the subsidy and announce some partners..... magic will happen

I for one do not want X11, let's go simple with AuxPOW and lower subsidy; that solves security and inflation concerns no?

orco#2

hero member

Activity: 868

Merit: 1000

That is what I want to see the low reward and pushing the subsidy halving rate out for a longer period of time to keep miner interest. Auxpow sounds great as well, but so long as. We retain miner interest for next 5 to 20 years, we should be able to build a Globalcoin into a useful product.

I hope the fixes being worked on are the fundamentals, the image set, and block reward. After that, mobile wallets!

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

Quote from: BitcoinNational on February 09, 2015, 09:39:45 AM

and that's all you need
AuxPOW +small reward ... like 1 global/block

Bingo! Tired of seeing so many great name coins with way too much inflation and dilution!

Plus the added security would be great!

icodestuff

newbie

Activity: 44

Merit: 0

Some updates were pushed to the github repo. Looks like general fixes, haven't had the time to actually go through; would be nice if the developers could post here.

CartmanSPC

legendary

Activity: 1270

Merit: 1000

Quote from: orco#2 on February 09, 2015, 06:57:09 PM

Only Engine-IT has responded to the request for quotation. Anyone else know a developer who can make these changes happen?

You could try ahmed. He is the main dev for DGC and recently (successfully) forked their blockchain to support multi algos. Don't know if he has the availability (time) to help.

orco#2

hero member

Activity: 868

Merit: 1000

Only Engine-IT has responded to the request for quotation. Anyone else know a developer who can make these changes happen?

BitcoinNational

legendary

Activity: 1470

Merit: 1010

Join The Blockchain Revolution In Logistics

Quote from: CartmanSPC on February 05, 2015, 01:09:24 AM

AuxPOW

and that's all you need
AuxPOW +small reward ... like 1 global/block

orco#2

hero member

Activity: 868

Merit: 1000

I am in the same boat. Wish I had gone to school for programming and I could do this stuff myself.

Youghoor

sr. member

Activity: 1036

Merit: 275

orco#2

hero member

Activity: 868

Merit: 1000

So we have a RFQ out to Engine IT, The Altcoin Guys, and Valzador.

Hopefully we can choose a vendorand have the work done by the next subsidy halving, so that the changes can be implemented on that block, or before really. There are so many changes that GLC will be the same in name and coins only, so it does not matter when the new client is released.

The next block subsidy is a tentative deadline, pending accepting a vendor.

orco#2

hero member

Activity: 868

Merit: 1000

In regard to the POS, here is a chart that shows how many years it will take GLC to lose 1/2 of its value in years, based on POS reward. So in an average life of 82 years, GLC would lose 78.44% of its purchasing power. Obviously that is most notable in 17 year increments. I think POS is cool, but only if the reward is much less. I honestly would prefer to avoid it all together, because it forces you to adopt a centralize infaltion scheme like the federal reserve to manage boom and bust cycles. Which may or may not be a bad thing. but when you get into this, there perhaps should be institutional rules of GLC that I do not know if we should go down that path. maybe we should.

Rate     Actual Years
0.25% 277.605
0.5%     138.976
1%     69.661
2%     35.003
3%     23.450
4% 17.673
5%     14.207
6%     11.896
7%     10.245
8%     9.006
9%     8.043
10%     7.273
11%     6.642
12%     6.116
15%    4.959
18%     4.188
20%     3.802
25%     3.106
30%     2.642
40%     2.060
50%     1.710
60%     1.475
70%     1.306

marcoman22

sr. member

Activity: 350

Merit: 250

Quote from: orco#2 on February 07, 2015, 10:56:13 AM

The Altcoin Guys look great for what we want.

I will get a quote. I mean, it seems they can do everything we want.

If he prove its worth then it will be great.

orco#2

hero member

Activity: 868

Merit: 1000

The Altcoin Guys look great for what we want.

I will get a quote. I mean, it seems they can do everything we want.

Triffin

sr. member

Activity: 952

Merit: 251

Quote from: orco#2 on February 05, 2015, 08:05:17 PM

Lets do it. Should we use the guy I was talking to or do you guys know someone. $500 a piece and we can have a legit property in the space.

Maybe post a RFP on the "Services" board with what's to be done

https://bitcointalk.org/index.php?board=52.0

See what sort of response we get ..

Used to be several 'coders' offering services
Here's one lead from awhile ago ..

https://bitcointalksearch.org/topic/the-guys-affordable-high-quality-coin-development-300-off-coin-packages-777604

and another "dev for hire"

https://bitcointalksearch.org/topic/cheapest-altcoin-creation-service-created-within-72-hours-min-03-btc-660051

With the price of GLC so low ..
A developer group may just buy in vs charging a fee ..
They take a stake .. Make some progress .. Price goes up ..

Triff ..

orco#2

hero member

Activity: 868

Merit: 1000

Lets do it. Should we use the guy I was talking to or do you guys know someone. Lets pool some cash and we can have a legitimate property in the space.

Topic: [GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT] - page 34. (Read 225832 times)