Ixcoin TODO - page 309. | Bitcointalksearch.org

Vlad2Vlad

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I have noticed that an increased difficulty is not a guarantee of success. Look at the difficulty of namecoin and how it is still struggling. It seems the is only one thing counting: the circulation and use of the coin. Ixcoin has no circulation at all. We risk to have a completely mined and unused coin. Once mined, who is gonna remember it?
It will finish in the future Museum of Cryptocoins.
I can think about the possible caption: Ixcoin was a virtual coin invented by a geek under the nickname of Nasakioto. The project was progressively abandoned by his creator. Despite the mining continued, the coin was never used. This is a clear example of how a coin can be created, mined and traded with no purpose in mind.
Cheesy

Circulation is also called velocity of money or rate of turnover and that's part what gives fiat money, its value.

As these coins get used more it will devalue the dollar, a clever way to inflate without inflating. Much harder to gauge and to counter by other countries.

Vlad2Vlad

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Quote from: markm on July 30, 2013, 02:26:45 AM

Yeah but bitparking's merged mining pool merges them so if you prefer pooled mining that is the place to go. Not sure if any other merged mining pools merge Ixcoin yet.

-MarkM-

I did the math and even with the 1Th I bought from BFL, which is pretty fast gear, I would get something like $8 of icCoin per month. Similar with devcoin. It's just not with it if you want these coins now. That's why I spent money on buying both. I'm down I'm both now, 50% and 80%, but I'm in this for linger term, 2-3 years although something big could happen next year.

markm

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Yeah but bitparking's merged mining pool merges them so if you prefer pooled mining that is the place to go. Not sure if any other merged mining pools merge Ixcoin yet.

-MarkM-

Vlad2Vlad

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Quote from: ?? on ??

Question: is it the IXC mining difficulty going to remain the same or is going to increase like in the case of Bitcoin? On vircurex I see that the difficulty is increasing daily.

I was gonna guess as mark said Simply cause its nearly impossible to mine ixCoin. Same for devcoin. It's like they're pegged to Bitcoin's difficulty.

markm

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As more people and maybe even more pools get into merged mining more coins, it should increase.

Also as people already merged mining it upgrade their mining equipment...

-MarkM-

Vlad2Vlad

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Quote from: ?? on ??

What scares me are these things:
- ripple - google operation;
- the ignorance of public about alt coins;
- the daily growing number of altcoins.

What intrigues me instead is the following:
- Has any altcoin reached full maturity, I mean that all the coins are already mined?
- What is it going to be when in 2015 all the ixcoin will be completely mined?
- Is it going to suffer instant death, because nobody will profit in dumping thousand of almost free coins mined along bitcons?
- Is it going to become precious because then you will have only the choice to buy them?
- Is the complete mining allowing the transactions to be faster, or maybe to change the characteristic of the coin itself?
- And above all: is the developer of IXC going to come out from the hole?

The guy came back but not a sign. He's accumulating - is the only explanation. He wants the price as low as possible so I'm doing what he's doing.

I had to stop and use my bitcoins to launch my own coin which has turned to hell mostly cause the programmer I paid didn't code the coin right so people started calling me a scammer so I had to give away my entire premine which was enterly earmarked for bounties, 1.57 million coins gone in one big giveaway so I'm stuck with out of pocket money for bounties. People are such assholes, a .25% premine was nothing.

At any rate, ixCoin is gonna be an interesting experiment and I was close to buying 1% of the coins but had to stop and spend my bitcoins on my coin, Nuggets to keep the hell hounds on my thread off my back.

Good luck to you - hoard as many different coins as you can cause the bitcoin ETF is a sure thing in my mind and will cause an explosion on bitcoin and all alt coins as millions of people start buying and mining alt coins.

Vlad2Vlad

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www.ixcoin.net

Quote from: ?? on ??

It seems the new startup Coinx will begin its activity on Aug 2013.
iXC is already mentioned among the traded coins.

Here the link of the news:
http://www.coinx.com/CoinX/WhoWeAre

Wait a minute, is CoinX then a clone of ixCoin? I misunderstood, I thought you meant ixCoin will be added to another exchange. Never heard of CoinX, can anybody add some color?

Edit:

Just looked and CoinX is just another exchange. There will be hundreds in 12-24 months but only the few getting millions to build the best, safest most secure infrastructure Will survive - exchanges like Coinbase, bank on that one.

For a second I got excited, I thought there was something new coming for ixCoin. Well, less than 18 months and there will be no more mining ixCoin, no more supply.

That's gonna get interesting quick-like, especially if my instinct is right and Bitcoin ETF will blow up and bankers will search out the closest clone with a nice long history and a nice intact block-chain. By next year nobody will care about the paltry 2% premine which was a joke anyway in my mind - devs have no right to make any money? BS!

Vlad2Vlad

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www.ixcoin.net

Quote from: doublec on July 22, 2013, 09:42:10 PM

ixcoin is about 80,000 blocks away from having its subsidy drop to zero. This means miner income from that coin will only be via transactions. Will the coin survive this? Will the price increase or collapse when this happens? I think this was one of the experiments of the coin - to make that drop to zero happen faster than bitcoin to see what effect it has. Block 227,499 is the cutoff block number.

So you're saying there's only about 1.5 years left to mine this coin? Ahahhahahaaa.

That's great.

Cause if there's only 80,000 blocks left times 10 minutes per block that's 800,000 minutes and there's like 524,000 minutes in one year I think.

Man, I wish I don't spent all my bitcoins on NUGGETS Bounties, I badly want some more ixCoin.

I've got a deep feeling about them.

And has anyone ever seen a more quiet dev? Is this normal for him or is something cooking?

Anybody have any opinions on this? TIA.

Vlad2Vlad

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Quote from: ?? on ??

It seems the new startup Coinx will begin its activity on Aug 2013.
iXC is already mentioned among the traded coins.

Here the link of the news:
http://www.coinx.com/CoinX/WhoWeAre

Sweet, had a feeling.

ahmed_bodi

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yeah the bytecoin diff isnt too bad my pool finds 3 blocks a day at around 4gh

markm

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Ah so the proxy is mostly used probably by people with enough hashing power they don't mind solo mining bitcoin itself not jsut the merged coins.

Smaller miners might be better off using p2pool because that way they become part of a distributed pool to help counter variance mining the bitcoins, though of course they are still solo for whatever merged chains they choose to merge with it.

If bytecoin is low enough in difficulty for even small miners to solo mine it then using the proxy might actually be a good option for them.

-MarkM-

doublec

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Quote from: ahmed_bodi on July 22, 2013, 11:28:52 PM

so this may lead me to believe that its actually using the merge mining mechanism which is included in bitcoin unless doubleC wants to correct me.

It enables you to use the merge mine proxy program to merge mine bytecoin as the primary chain. The patches aren't needed if you're using pool software (eg. p2pool, eloipool) that do what those patches do using getblocktemplate. The advantage of using the mergemineproxy is you don't need pool software so it's easy to solomine.

ahmed_bodi

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im not quite sure on what you mean there, but i dont run a bitcoin daemon myself far too bloated for any of my normal pc's. But anyways mine is just the bitcoin client with the merged mining patches which doubleC produced which has then been modified to fit bytecoin's configuration. so this may lead me to believe that its actually using the merge mining mechanism which is included in bitcoin unless doubleC wants to correct me. Although i know in comparison to the previous bytecoin client my new version which i produced contains various new rpc calls such as getauxblock getauxwork and buildmerkletree which never existed before

markm

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Quote from: ahmed_bodi on July 22, 2013, 11:16:30 PM

i reckon the daemons themselves should be patched. shows support for the coin and ensures that the coin should be up to date. e.g. because of the patch i updated the checkpoints to around 50 blocks ago. aswell as rebased on the latest bitcoin

They should be brought up to date with latest bitcoin code. Same for the merged mining proxy, latest bitcoin has a mechanism intended to enable merged mining, patching in another one with patches doesn't seem to me of great utility. Or is the command you patch in way more powerful and generally useful than getblocktemplate? (If it is why wasn't it, instead of getblocktemplate, incorporated into mainline bitcoin?)

-MarkM-

ahmed_bodi

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i reckon the daemons themselves should be patched. shows support for the coin and ensures that the coin should be up to date. e.g. because of the patch i updated the checkpoints to around 50 blocks ago. aswell as rebased on the latest bitcoin

markm

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Hmm sounds like it would be useful then to make an updated merged mining proxy so people don't have to patch bitcoin if they don't want to use p2pool.

-MarkM-

doublec

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Quote from: markm on July 22, 2013, 10:46:58 PM

Hmm how is it that p2pool is able to merged mine things alongside bitcoin without needing to have patches applied to bitcoin?

They've implemented what is done via the patches to bitcoin internally into p2pool. The mergemineproxy could be modified to do this as well but no one has. It predates 'getblocktemplate' which was the functionality added to bitcoin that allowed this type of thing to be done outside of patching bitcoin.

ahmed_bodi

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right yeah i understand. just looked through the merged mining proxy code

markm

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Hmm how is it that p2pool is able to merged mine things alongside bitcoin without needing to have patches applied to bitcoin?

-MarkM-

doublec

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Quote from: markm on July 22, 2013, 10:36:06 PM

It was always able to be merged mined alongside Terracoin, Bytecoin, whatever other bitcoin clones came out that I didn't notice.

The 'now supports merge mining' was referring to being able to use it with software that uses the merge mining proxy protocol (getworkaux rpc, etc). That isn't included in bytecoin before their latest round of changes.

Topic: Ixcoin TODO - page 309. (Read 631747 times)