Topic: [LTCD] LitecoinDark.com ★ Scrypt ★ Difficulty Shield ★ Multipool ★ Fast - page 72. (Read 368563 times)

Dear Community,

We hope things are more clear now for the people who emailed about future developement. TrollbyFire have cleared everything enough into his recent posting and we hope people understand this. Also there is proof giving about the 2gen what will be inplenmentate near future. We also hope that everybody understand that we can't give to much details yet. Things about the 2gen will be more explained when the 2gen whitepaper will be released.

Like always, keep up the good work and thanks for all support at the team!

Regards,

LitecoinDark Dev

And neither you own this thread, so don't use it like your playground.
Freedom of speech doesn't mean free access to behaving infantile.
I would recommend opening separate thread were you can projectile your pointless and infantile moontalk and let this thread revolve around what it's supposed: LTCD development and community.

First of all, I don't bitch. What you and your society of mutual adoraration called bitching, is called "crticisim".
I have not said that I am speaking for everyone here.
Community is also about being able to listen, taking criticism and learning.
Also, I do not have a habit of ignoring someone for such reasons. I find it infantile. I tend to communicate my opinion and find a solution first. I only ignore someone if the person fails to communicate intelligently and starts being aggressive.

Second of all, this is not some kind of egoic competition here about who did what for community.
I don't care about some "hall of fame" and who's got what place. Everyone does for community what they can, according to their capabilities. Your both pointless comments are form of egoic masturbation and only prove your immaturity and intentions. I'm not here to compete with anyone. The fact that someone did something for the community doesn't give them the right to post whatever they like and use this thread as their crypto moontalk-speculation sandpit.

Third of all, I have been on Reddit since you started your section there.

Thanks for the detailed response, will need to read it a few times to digest it.

In terms of the "shortened mining time" thing, I've looked at a number of coin sources and read various discussions related to things like premines, reward structures and the like when some new coin launches and people are checking over the code. One of the things I've been led to believe is that the MAX_MONEY parameter is only used as a limit check in some of the code and that the only thing that truly determines the reward, is the proof of work routine.


This is usually the code people would check.  Odd thing here is that I can't get it to work out for what the current reward is but basically, the subsidy would get shifted to 0 much quicker than before since it's "starting" at a lower initial subsidy.

The code is different than other coins I've looked at in that it's usually called ProofOfWork or something like that so maybe you can point me in the right direction.

You are right and we are working on POS, we just need to find the correct rate.

you should do that because you would probably get close to 10k ltcd a day. And ltcd has WAY more than enough hash atm.... Hey , do what you want.  Im just saying it would ne better for you and the coin. Im not trying to trick you lol

edit: actually the hash isnt anywhere near what it was so I see the point I guess.  Although if someone wanted to 51% they could even with your hash.  PoS will fix that.  Try it for a day before you say Im wrong....

Sure, but why should we do that. The coin needs the hash rate, and I do still get almost 4000 ltcd a day at current reward.

You're welcome.

Thats my point, the difference is HUGE. If the top few guys mining it would mine nicehash and buy ltcd they would do much better, and there would be more buy support...

Renting the rigs is almost more than 50% loss than to buy LTCD trough exchange

I just went to mine some ltcd and I gotta ask... Why are people mining?  With my widow I could get about 140 ltcd a day.. at the current price I could get almost three times that.

TO THE MINERS WITH LOTS OF HASH:  You would benefit not only yourselves, but the coin as well by mining a multipool then BUYING ltcd. You will get twice the coins (if not more) and you will help drive the price up.  If baffles me when I see people mining at such a huge loss..

Agreed.  I should probably address some of these questions.  I'll start at the beginning.


The whitepaper states that a heavily modified DarkSend would be implemented.  Whether this could be considered a "final" anon feature or not is hard to say.  Anonymity modules first need a fully-designed API with which to conform.  Keep in mind that we're not talking about bitcoin here.  We need to keep the code out of core and easily interchangeable with additional anonymous send modules.  DarkSend is simply one possible implementation.  The module itself should be allowed to define the parameters that our DarkSend clone would use and as such, transaction fees for anonymous sends could be something that would be easily changed in the future -- Read: when we get there.


As I stated in our conversation via PM, I don't understand how you're arriving at the conclusion that the coin would be mined out quickly.  Until/Unless the minimum reward in implemented, we will continue halving at regular intervals and MAX_MONEY will still be reached.  Eventually.  That parameter was not changed when nSubsidy was adjusted.  Even without a minimum reward this will extend mining time.  We do not measure total number of coins based on the number of halvings or based on block reward.  We measure total number of coins based on the define for MAX_MONEY.  That is the only parameter.  As we are introducing fewer coins per block, we have extended the mining period.

That said, the plan is to move to a minimum reward value at some arbitrary point in the future, however, once MAX_MONEY has been reached, that reward will be zero (tx fees only). That follows bitcoin / litecoin's design almost exactly.

This also has nothing to do with PoS.  The minting/staking algorithm I have been working on does not take MAX_MONEY into account.


Nearly all bitcoin clones have some form of tx fees implemented.  As we were forked from litecoin, we have tx fees already implemented.  Send a transaction with a low enough priority and you'll quickly see that.

You bring up a good point here though, Masternodes (as defined by DarkSend) are paid via "voting process" at every new block issued.  One node is paid per block, if I understand the spec correctly.  20% of each Darkcoin block goes to the masternodes instead of the miner.  This has nothing to do with transaction fees unless, of course, a given block contains transactions sent with fees.


This is similar to my initial suggestion.  Our final implementation is not yet set in stone, and it's hard to call anything "final" as we are building these implementations as modules that can be interchangeable.

I don't understand how having another group competing for fees is a bad thing.  The transaction fees should belong to whomever created the block, no matter the process for the block's generation.


I don't feel that you're off base at all.  You've raised perfectly valid questions, so I'm taking my time to try to address them individually.


I don't think we've ever said anything about going "pure" PoS.  However, stake values can (often are) still based on what we still refer to as interest rates.  Personally, I'd be happy with 0% and the only reward coming from transaction fees included in the blocks that are minted.  That way inflation would be a non-issue, and I don't like the idea of destroying tx fees to combat it.

0% isn't likely to sit well with anyone else, though.  That's why decisions are made by the community.

Also, masternodes don't generate blocks.  They mix coins.


Actually, in darkcoin the 1000 DRK requirement for running a masternode is used entirely for the purposes of discouraging additional masternodes.  They tend to generate a lot of traffic (and also give some incentive for people to hold coins.)

I'm not 100% happy with masternodes as our "only" anon feature, and as such I have additional modules planned for 2.0.  With that said, much of 2.0's design is based around separating the individual components of running a node (not masternode, the same as any LTCD wallet.)  When the whitepaper for 2.0 is released, this will make more sense.  What I can say to attempt to shed some light on the subject is this:  The LTCD 2.0 "wallet" is a separate application from the one that hosts the LTCD 2.0 blockchain.  In fact, the "ledger daemon" has complete capability to host "multiple" blockchains, each with their own chain parameters.  It could theoretically host and distribute bitcoin's blockchain allowing you to use LTCD 2.0 as an alternative wallet to bitcoin proper.  That said, it would require a module to be written to add the hosted chain (the ledger) to the daemon.

The ledger daemon is also not responsible for distributing work / transaction lists.  It simply listens for submitted blocks, verifies their contents, and broadcasts the block to the p2p network.  It hosts blockchains.  Nothing more, nothing less.

There are other applications being built for LTCD 2.0.  Most of these operate outside the blockchain and on separate p2p networks.  However, almost all of them connect to the p2p directory to locate services.  For instance, if you wanted a local copy of the blockchain, run your own ledgerd.  If you wanted a thin wallet only, don't run the ledgerd.  If a local ledger isn't found, the wallet prompts you to connect to the p2p network to get a list of ledger services from the network.

Keep in mind, the information I've just given you is not yet finalized, is subject to change, and has not been finished.  It is strictly hearsay until the 2.0 whitepaper is released.


Again, no reason why we can't implement multiple anonymity modules.  This is one I have been watching closely as well.


We have a lot of work ahead of us.  I don't see any harm in the community discussing PoS percentages early before we put it to an actual vote.


I'd say "something new" would be the most accurate description.  Details as soon as I'm comfortable releasing them.

This sounds great PM me if you are interested in giving the coin a voice, just a brief moment to explain the coin and where you are headed stuff like that. Can be very good for investors to listen to. Promise to make sure you do not look bad, kevondo is the DJ you will talk to and is a chill lay back vietnam vet.

I think that for some of us, it's far, far too early to be talking about that as it would be several months down the road before it could even be implemented and the landscape for all of those can completely have changed by then.  I know those things are all the buzz right now but I don't think the devs need anything else at this point that the community would start hounding them for.  lol.

So here's a little can of worms regarding PoS.  Any discussion of "PoS" really needs to take into account a number of things before any talk about percentages can take place:

- The final anon feature of the coin
- Transaction fees
- Final mining reward
- PoS vs Forging

The coins whitepaper says that the final anon feature will be Darksend, which I assume is a "copy" of the Darkcoin tech. By design, that necessitate the use of Master Nodes which then necessitates the implementation of transaction fees. So not only does the cost required to run a Masternode need to be determined, but then the transaction fees as well since, unless I'm oblivious, the coin does not currently have.

As things stand today, the mining reward was significantly reduced which will lead to the coin being mined out "very" quickly. It's my understanding though that there will be a final "minimum" reward and I've assumed that it will be implemented when the PoS version is rolled out.

So the coin would have to have transaction fees implemented at some point as well.  Now, I don't know much about actual mining, but don't miners also typically get transaction fees when a coin has that? So would the people running Masternodes compete for those transaction fees?  Or would there be a different set of fees related to the anon transactions that the Masternodes would be paid?

My original thoughts about PoS were that "forging" would be a better idea.  The forgers would get transaction fees while miners continue to add to the supply over time which would take care of lost coins etc and thus PoS isn't really required in order to solve that particular issue.  But with forging, we'd now have another group competing for transaction fees right?

Am I completely off base with some of this? The whitepaper really doesn't discuss any of these sorts of things in depth.

As far as "pure PoS" goes, my feeling is 2%-5% is adequate.  But in this case, the coin isn't pure POS due to ongoing mining and the running of Nodes.

On a personal note, I'm really not fond of anon tech that relies on trusting other people with running nodes. If you don't have enough people running the nodes you open up attack vectors and getting enough people that are willing to invest enough to run them can be difficult.  Not to mention that a couple people with deep pockets could "own" the majority of nodes and then do what they wish.  I prefer blockchain type anon (CN coins for example) for those reasons.  Now some people say that blockchain anon isn't as secure as "eventually" someone will hack it. IMO if someone was able to eventually hack blockchain anon, we'd have much bigger problems for cryptocurrencies in general.

I'd much prefer the coin to implement something like the zerocoin/zerocash tech which no one has done as of yet.  One coin was supposed to have implemented zerocoin within the next week or so but they just came out and said it won't happen for awhile. I don't know of anyone that's trying implement zerocash yet (there is a fundamental issue with it but I believe there can be a solution for it).  It should be noted that zerocoin was talked about many times as potentially being added to bitcoin but from reading a bunch of threads it seems like they're sort of waiting for an alt coin to do it in order to prove it out.  Zerocoin is fundamentally just a "mixer" whereas Zerocash is actually for anon transactions.

So from my perspective, there's a whole lot of intertwined things that really need to be nailed down first and then the actual values for things like fees, PoS percentages etc worked out so that they are all well balanced.  Not an easy task but it needs to get done ASAP and spelled out clearly in the coins whitepaper. Without knowing all these things ahead of time, we could end up with a coin that has very high inflation on top of the high supply which would be a bad thing.

I'd also like to know what the PoS design would be.  Whether it would just be the "old" peercoin coin age type thing, one of the newer PoS V2 (some other coin is building on V2 and calling it V3 but can't remember which), PoSV or something "new".

New Poll... What % would you like to see Litecoindark POS at??

http://www.poll-maker.com/poll154920xD6584f60-6

Cheers,

Ghosty

Does litecoindark have there own forums so your community members can get to know each other on a more personal level and work with each other on projects such as PR, development, etc. Also would anyone be interested in becoming a rep for your coin to speak on air with a DJ. Let me know I can pull some strings if any of you would like to step to the plate. oh and FYI I just got further into LTCD I like the low prices, if I see 800 I will invest more. So remember low prices is just an opportunity for more people to get in dont let it get you down thats just the way the crypto swings.

Well on that note I suggest that if people don't like what they see its simple click ignore that's why its there . I will not get into a mud slinging contest with a person of the community because it looks bad. The other day when I was on cryptsy someone asked me if I was one of the reddit mods I said yes. They  told me they liked my comments in the forum and to keep it up so I truly believe what Iam doing here is helping and not hurting ltcd at all. What makes us look bad is when people of this great community attack others. I may be enthusiastic about ltcd but that's a good thing not a bad thing I don't attack any members of this community nor will I ever. Now lets all get along and play nice lol thanks Voodoo

Seriously?? First of all we don't attack our own community members... Especially someone who had done so much... Crying about posts about price?? Seriously?? Where  is your participation?? I posted a thread here and on the Reddit site to have a discussion about SuperNet, BlockNet, and InternetofCoins and guess how many of you took the time to go have your say in the matter?? None of you!! And that includes you BOB!! That's serious talk about our future direction and here you are bitching about someone talking about prices... If you don't like his updates then put him on ignore I am sure he won't mind but there are others who do like his updates!! You don't speak for everyone... Heck you don't even speak for yourself... So lets stop with the playground behavior and grow up a little and like you said... RELAX!!

And participate!! Join the Reddit site and do more then that... Post something!! Surely you guys have something to add... Surely you have opinions... Share them!!

Cheers,

Ghosty


P.S. For those of  you who don't like the to the moon talk... Just remember... There is  a time for work and there is a time for play... And all work and no play makes us a pretty boring community... Do you think Dogecoin got to where they are from being boring?? I think not!! It was much this and much that.... It was fun... Make it fun or we are done!!

P.S.S. Thank you to those who took the time to vote  in the SuperNet vs BlockNet vs InternetofCoins poll... It was only 4 of you so far but it should be stated that SuperNet has zero votes so far... BlockNet has 3 and InternetofCoins has one!!

What really bob take a break and relax if its getting to you that much last time i checked you didn't own this forum and isn't it freedom of speech here . also what have you done for the coin besides bitch. I have done so much for this coin and proud of it. oh i don't see you on the wall of fame relax no really relax.

I think Tranz (the Dev) of CAPS and HBN has done a pretty good job of instituting PoS. He put block limits and it also halves so that folks must be active. They can't just buy up a big chunk and open their wallet once a yr.

Thanks