Topic: [GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT] - page 46. (Read 225832 times)

Some exciting news!

Globalcoin will have a new feature packed blockchain explorer soon!

Blocks and transactions in real-time
Balance checking for wallet addresses
QR codes for public addresses
Pool hashrate distribution data
Latest GLC/BTC and GLC/USD prices
Market cap value and live coin supply numbers
Top 100 rich list by address and wealth distribution data
Simple and elegant bootstrap interface
Hosted on a blazing fast server

Pretty much just waiting on the database to sync, it'll be live by tomorrow hopefully

1. We could always expand the window of exchange time. I would assume anyone with substantial amounts of GLC would be paying attention anyway.

2. Changing the numbers (reducing the coin supply) makes it more scarce and in theory should demand higher price no?

but yes I heavily agree that marketing, updates and new features is the BEST approach.

I'm not that keen on further reducing coin supply but there is a way to do it regardless of how many coins are already minted, a conversion with a trusted exchange partner.

This would require a rewrite of the code base, a fresh start with a new genesis block and adjustment of the current mining rewards to fit in.

1. Find trusted exchange to convert old coins to new coins. (bittrex.com has provided this service before)
2. Give notice to community they have 7 days to deposit their coins into said exchange (user balance, user controlled). Any coins not deposited within this period will not be included in new chain.
3. After 7 days exchange shows their wallet balance of old coins and conversion is calculated.
4. Modify new GLC code base so block 1 includes x amount of coins for conversion. Devs mine first block.
5. Devs release new daemon and client code to pools, exchanges etc.
5. Devs send mined coins from block 1 to exchange, with proof of transaction. Exchange then distributes new coins to each user per their old coin balance.
6. Coin supply is now completely different with users still holding coins at the same ratio. Old coins are no longer valid on the Globalcoin block chain.

A further example:

Say we have 50 million GLC currently mined out of the 70 million and we want to change the total supply from 70 to 20 million coins.

20 million coins is a 3.5x reduction from 70 million.

Say only 35 million coins are deposited into the exchange after the 7 days. People who don't deposit their old coins will effectively lose them.

Deposited coins are now treated as the current mined supply, disregard the 50 million. So 35 million coins of 70 million coins are now "mined".

Convert these 35 million deposited coins retaining the same ratio for new 20 million coin supply.

35,000,000 / 3.5 = 10,000,000

Devs implement block 1 to have 10,000,000 reward and once they mine it send to exchange.

Devs publicly release new client.

Exchange now converts each users balances to the new coins and users can now withdraw to their new wallets or trade on the exchange.

For instance if I held 100,000 GLC before the conversion I have ~0.14% of the 70 million total supply. The above method means after the conversion I would hold ~28,571 GLC which again is ~0.14% of the new 20 million total supply.

Cut the cap to say 50 million then drop the subsidy to a nominal inflation rate like 1% or 2% per year.

Look at i0Coin. 99% of the coins are mined, there's like 1 or 2 coins per block now and it still has lots of merge miners.

Granted this wouldn't be as effective as it would have been a few months ago.

Just a thought to help increase the scarcity and thus, the value right away.


Cheers!

how would you do that with 44million minted already?

GlobalCoin now has it's own page on http://coinwik.org a wikipedia listing all the alt coins to help you quickly find facts and links about your favorite coin.

http://coinwik.org/GlobalCoin
If you know of other facts and links that can be added to the page, please feel free to update the page.

Lol what an idea To be honest.. why not?

 


Why don't you guys do what dark coin did.  They cut the max coins from 88 million to 22 million.  It added instant value to Their coin.


70 million coins ain't that bad, but if you dropped that down to sub 20 million, this coin would jump 10 fold in value overnight on at least a value play.

Good luck!

@1024KB your point does have some truth to it I guess. To be honest I would prefer to see new services and general updates to the client over a hashing algorithm change. I just think there's so many scrypt coins now that it's a tough sell, but if the community can come together with services and a committed development team then Globalcoin will be going places for sure.

By the way the subject of this thread sorta doesn't read as though it's a coin, when I first saw it I thought it was for a group talking about all the coins lol. Any suggestions for a title change?

[GLC] Globalcoin - 1 Year Anniversary - NO IPO, NO PREMINE - 70 Million Coins - [SCRYPT]

unick's block explorers also include rich lists, live transactions, exchange data, node information, paper wallet generator and more. The pricing seems to be fairly competitive considering such addons and the 6 months of VPS hosting, the quotes I got from 8 developers were between 0.5 and 2 BTC. unick is a reputable bitcointalk user and has a proven record for maintaining several working block explorers.

Globalcoin's price has no real reason to increase until there are ways to spend the coin. GLC does not to my knowledge have any services/merchants supporting the coin except the VPN hosting through blueyvpn.com which was only recently added. Here's a few things which are easy enough to get online that are a majority of other coins and certainly the big players have:

• Gambling - dicing, spins, lotto, chain selling, roulette, raffles and betting etc
• A gift card shop exchanging GLC for amazon, itunes, game codes etc
• Offline storage methods like the awesome http://cryptocards.co/

Gambling services in particular would add to the GLC economy by leaps and bounds.

I don't think mining should go to an "exclusive group" who can then dictate the pricing of the coin, centralization is what cryptocurrencies stand against is it not? A small group of fat cat miners with ASICS or anyone who has a computer? I think the network would greatly benefit with larger diversity and so would the overall mindset when introducing people to the coin.. "you can earn coins on your home pc" vs "buy this expensive machine to earn coins".. there's literally millions more people that already have computers than those that want to go out and buy ASICS. This is why I like the groestl or X11 algorithms as CPU mining is still somewhat relative with GPU mining only being 5-10x superior in terms of hashing speed.

Those block explorers are great.  I bet I can have a professional basically copy that design but run the globalcoin data for much cheaper.  I might test them out with this small project before going to the client build.

I will probably have the website redesigned and put on a server that I control as well; just so we always have a it up and don;t have it in some yahoos control.


In regard to including the everyman in mining, that is not so much a concern of mine.  Mining should go to an exclusive group and the price should follow.


What you think?

So picking apart the best features from other coins.. well what is there really? different hashing algorithms, proof of stake and anonymous transactions are the only real differentiating features at the moment.

I still think changing to X11 or groestl hashing algo is the way to go. An opportunity for diversified mining for everyone, not just deep pocket ASIC buyers.

Hybrid PoS and PoW could be something to look into... having the ability to simultaneously mine and stake seems somewhat logical actually. Those that want to take a "risk" purchasing mining equipment are rewarded with more coins by PoW whilst those without the capital can earn smaller amounts of coins by simply leaving their wallets running to help the network.

Fully anonymous transactions doesn't really fit in with my view on the "global" sentiment. When I read "Globalcoin" I feel it represents a bright future where money doesn't have borders or restrictions... not a shady means for potentially illegal use cases. But that's just my view, if the majority of the community wants it then by all means implement it.

Would like to see a poll or community voting system for whatever features are proposed before actually implementing them anyway.

Now regarding one of the main things globalcoin should have online right now... a blockchain explorer. I've spoken with a few people that run such websites and if the globalcoin community can put together 0.75 BTC (maybe less now since the price has raised a bit lol) then we can get a very professional feature rich explorer setup and hosted on a VPS for atleast 6 months by unick - here's some examples of his work:

http://hbn.blockx.info
http://mint.blockx.info
http://xlc.blockx.info

Thoughts?

I wasn't being specific about the coins and development behind them because I am not technical in this area. I haven't a good enough understanding about them. I understand there is Darkcoin, Monero, XC maybe more and I believe there is at least a couple of different methods of anonymity behind them, but please understand I not technically understanding this stuff Just looking from the outside at what I see happening.

Just trying to shine some light on what maybe some possibilities as I see globlalcoin drifting into insignificance and believe it can be given a new lease of life If the right development was put behind it. Its a great named coin, fast transaction, nice amount of coinage.

Not specific enough

As far as I understand there are a few different coins using at least a couple, if not more ways of creating anonymity. It may be a good idea to look at them all and pick the best possible method for Globalcoin and any other features that may enhance the viability and usefulness of this coin to have real use.

Also please consider that the trade $volume of this coin is quite low and the coin can easily drift into insignificance. There is a window of opportunity to turn this coin around into a major player of real significance, and whether anyone likes it or not this has to be implemented with great hast.

I am thinking about bankrolling the development of the upgraded client functionality.

What features should be added if I try and get the client to world class?  Just a list and what coins implement them so I can compile info to get the development team.

Thanks everyone.

This sounds about right.  Let's make changes and be a player.

Heartfelt support for keeping your priorities - family goes first. What is probably most needed is being well emotionally and spiritually for anything else to truly succeed.

Now concerning your exciting algo note, my 2 cents...

GlobalCoin has great assets: excellent name, mature age, clean reputation. I also believe fresh algo DNA is needed in order to morph this coin into a super-player. Besides sporadic innovation, regular inbreeding and algo updates will be crucial for any coin to keep on top, so it's just a matter of when. I could imagine an announcement that GlobalCoin is now based on Darkcoin with optional anonymity switching (at transaction level or for full wallets), plus added features from other successful coins. Amir and Cody appear to have done an amazing job at rewriting the whole code stack, and betting on their work would be a sensible choice. That would certainly be a bomb... And now would be a good time for a drastic algo change.

Worldcoin appears to be crowdfunding successfully, that could also be a good solution for getting you developer support. On the other hand, if I were a topnotch programmer, I would seriously consider investing a few thousand bucks in GlobalCoin myself and throwing in some months of work in order to come up with a fabulous algo upgrade. That would probably be the investment of a lifetime...

Un abrazo desde Madrid