Topic: [GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT] - page 35. (Read 225832 times)
February 05, 2015, 01:09:24 AM
AuxPOW
February 05, 2015, 12:41:57 AM
But pos is not ideal. 4% inflationary pressure kind of sucks. It is exponential and purchasing power is decreased for all but the ones hoarding and minting. Every 5 years you lose over 1/5 your purchasing power. I like it as a security feature I think, but as a general rule economics wise I do not.
February 04, 2015, 10:15:29 PM
Those all sound reasonable ..
So, how do we proceed ??
Who holds the 'keys to the kingdom" ??
SistaFista or someone else ??
Triff ..
So, how do we proceed ??
Who holds the 'keys to the kingdom" ??
SistaFista or someone else ??
Triff ..
That's the beauty of open source, nobody really holds the keys to the kingdom; anyone can make changes and we as a community can then branch off. All we need is a hard fork and the community to rally behind the new code.
https://github.com/CryptoParts/GlobalCoin
February 04, 2015, 09:40:03 PM
Here are my suggestions on updates:
Update core code, wallet and protocol versions (heartbleed, dust transactions and ssl fixes etc)
Change the algorithm: ASIC resistant and GPU friendy = Lyra2RE (PoW) + PoS
Change total mine-able coin supply: 64 million coins (PoW) (feels nicer being 8 bit binary count)
Change difficulty re-target: Retarget every block with Kimotos Gravity Well
Fixed Block Reward: 5 coins per block with no reductions.
- With roughly 4 million new coins to be mined this will provide just over a year for mining
- 40 second block target results in ~2160 block per day, with 5 GLC block reward (10,800 GLC mined per day) that leaves ~370 days to mine 4 million coins
- Do we maybe think about increasing block target to 60 seconds? giving us roughly 555 days of mining. Or even 90 seconds, that would be ~833 days (2 years) of mining (960 blocks, 4800 coins per day)
Minting (PoS): 4% interest yearly with minting eligibility 30 days post transaction
- Becomes purely PoS after 64 million mined coins
- Effectively no cap on total coin supply, like peercoin
So all of this would result in a truly "global" coin, seeing as anyone with a computer/GPU could mine; then anyone with a computer or even smartphone could mint.
Update core code, wallet and protocol versions (heartbleed, dust transactions and ssl fixes etc)
Change the algorithm: ASIC resistant and GPU friendy = Lyra2RE (PoW) + PoS
Change total mine-able coin supply: 64 million coins (PoW) (feels nicer being 8 bit binary count)
Change difficulty re-target: Retarget every block with Kimotos Gravity Well
Fixed Block Reward: 5 coins per block with no reductions.
- With roughly 4 million new coins to be mined this will provide just over a year for mining
- 40 second block target results in ~2160 block per day, with 5 GLC block reward (10,800 GLC mined per day) that leaves ~370 days to mine 4 million coins
- Do we maybe think about increasing block target to 60 seconds? giving us roughly 555 days of mining. Or even 90 seconds, that would be ~833 days (2 years) of mining (960 blocks, 4800 coins per day)
Minting (PoS): 4% interest yearly with minting eligibility 30 days post transaction
- Becomes purely PoS after 64 million mined coins
- Effectively no cap on total coin supply, like peercoin
So all of this would result in a truly "global" coin, seeing as anyone with a computer/GPU could mine; then anyone with a computer or even smartphone could mint.
Those all sound reasonable ..
So, how do we proceed ??
Who holds the 'keys to the kingdom" ??
SistaFista or someone else ??
Triff ..
February 04, 2015, 09:26:24 PM
Here are my suggestions on updates:
Update core code, wallet and protocol versions (heartbleed, dust transactions and ssl fixes etc)
Change the algorithm: ASIC resistant and GPU friendy = Lyra2RE (PoW) + PoS
Change total mine-able coin supply: 64 million coins (PoW) (feels nicer being 8 bit binary count)
Change difficulty re-target: Retarget every block with Kimotos Gravity Well
Fixed Block Reward: 5 coins per block with no reductions.
- With roughly 4 million new coins to be mined this will provide just over a year for mining
- 40 second block target results in ~2160 block per day, with 5 GLC block reward (10,800 GLC mined per day) that leaves ~370 days to mine 4 million coins
- Do we maybe think about increasing block target to 60 seconds? giving us roughly 555 days of mining. Or even 90 seconds, that would be ~833 days (2 years) of mining (960 blocks, 4800 coins per day)
Minting (PoS): 4% interest yearly with minting eligibility 30 days post transaction
- Becomes purely PoS after 64 million mined coins
- Effectively no cap on total coin supply, like peercoin
So all of this would result in a truly "global" coin, seeing as anyone with a computer/GPU could mine; then anyone with a computer or even smartphone could mint.
Update core code, wallet and protocol versions (heartbleed, dust transactions and ssl fixes etc)
Change the algorithm: ASIC resistant and GPU friendy = Lyra2RE (PoW) + PoS
Change total mine-able coin supply: 64 million coins (PoW) (feels nicer being 8 bit binary count)
Change difficulty re-target: Retarget every block with Kimotos Gravity Well
Fixed Block Reward: 5 coins per block with no reductions.
- With roughly 4 million new coins to be mined this will provide just over a year for mining
- 40 second block target results in ~2160 block per day, with 5 GLC block reward (10,800 GLC mined per day) that leaves ~370 days to mine 4 million coins
- Do we maybe think about increasing block target to 60 seconds? giving us roughly 555 days of mining. Or even 90 seconds, that would be ~833 days (2 years) of mining (960 blocks, 4800 coins per day)
Minting (PoS): 4% interest yearly with minting eligibility 30 days post transaction
- Becomes purely PoS after 64 million mined coins
- Effectively no cap on total coin supply, like peercoin
So all of this would result in a truly "global" coin, seeing as anyone with a computer/GPU could mine; then anyone with a computer or even smartphone could mint.
February 04, 2015, 04:04:31 PM
I am of the same mind, but reward logic and client updates are a must. As is kimoto, miners are still able to game GLC too easily. Subsidy halves every 6 months, so need to push out pow subsidy for at least 10 years to have the subsidy high enough to attract miners. Ten years provides a significant tail for merchant adoption. Mobile wallet is great idea.
February 04, 2015, 10:26:36 AM
I thought it was included, but I have asked.
As long as we're asking ..
How much more for a mobile wallet ??
I'm not in favor of tweaking the coin parameters ..
We should just concentrate on making it easy to use
and marketing the 'name' ..
I assume the original dev is MIA ??
Is he/she willing to cede control of the coin etc ??
Triff ..
February 04, 2015, 12:02:00 AM
I thought it was included, but I have asked.
February 03, 2015, 09:07:34 AM
I have been talking to someone and they state that they can do the following:
+ Adding of Kimoto's gravity
+ Replace existing images with your new images
+ Changing the reward logic
+ Compile Windows wallet
+ Compile Mac wallet
+ Compile Linux wallet
For $2200.
That seems like a lot of money to me, but I will put up some funds if anyone else cares to join.
+ Adding of Kimoto's gravity
+ Replace existing images with your new images
+ Changing the reward logic
+ Compile Windows wallet
+ Compile Mac wallet
+ Compile Linux wallet
For $2200.
That seems like a lot of money to me, but I will put up some funds if anyone else cares to join.
What about changing the algo?
February 02, 2015, 02:27:34 PM
I have been talking to someone and they state that they can do the following:
+ Adding of Kimoto's gravity
+ Replace existing images with your new images
+ Changing the reward logic
+ Compile Windows wallet
+ Compile Mac wallet
+ Compile Linux wallet
For $2200.
That seems like a lot of money to me, but I will put up some funds if anyone else cares to join.
+ Adding of Kimoto's gravity
+ Replace existing images with your new images
+ Changing the reward logic
+ Compile Windows wallet
+ Compile Mac wallet
+ Compile Linux wallet
For $2200.
That seems like a lot of money to me, but I will put up some funds if anyone else cares to join.
January 10, 2015, 05:54:25 PM
Someone is buying this coin for a long time without driving price much. Maybe just people buying GLC because of low market cap, low max number of coins and low inflation. Who knows.
January 10, 2015, 05:11:34 PM
We have decent volume and some movement today ..
Any news ??
Triff ..
Any news ??
Triff ..
January 06, 2015, 09:48:26 PM
I believe glc may be going to x11 with pos. But i haven't spoken to mr. Fista in a long while. I think this will happen though.
January 06, 2015, 12:56:23 PM
Hopefully, 1 thing at a time, more pressing issues at the moment in my opinion.
would care too enlighten us on those issues please
January 06, 2015, 12:50:21 PM
Hopefully, 1 thing at a time, more pressing issues at the moment in my opinion.
January 04, 2015, 10:21:15 PM
GlobalCoin deserves/needs a mobile wallet ( that works 
) ..
The name demands it ..
Any chance that can happen ??
Triff ..
) ..The name demands it ..
Any chance that can happen ??
Triff ..
January 03, 2015, 07:20:32 PM
No updates. Dev is keeping silence
January 03, 2015, 06:29:11 PM
So is this coin now dead. And someone else is picking this coin up where it left or to build it from the ground back up. Whats the future of this coin if any?? Anyone actually taking over the project?
December 30, 2014, 06:20:51 AM
Someone is silently stocking up 
December 27, 2014, 12:21:03 PM
Bump for teh great justice!
Any news/updates?
Any news/updates?
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