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Topic: ○ Marscoin [MRS] Colonizing Mars! - page 8. (Read 28651 times)

member
Activity: 68
Merit: 10
January 31, 2014, 04:35:41 PM
#47
I'm not aware of any such measures that can be taken without centralising the currency.
Similar to a timestamping server here on Earth (or yes, even an ICANN like construct, but that is centralization, indeed). It will be in the Mars colonists' economic best self-interest to install server(s) that issue a list of timestamp marked credentials - which could be incorporated in each block to verify the mining occurred on Mars.

Raising the money is done with the premine. Beyond that, it doesn't help raise money at all.
Yes it does: the 300k (now 400k) of premined Marscoins are worth nothing at this point (well, on reddit they go for 10-80cents right now). If the incentive is strong enough, more and more fiat currencies will be exchanged for Marscoin driving up the price for Marscoins. That alone will make the initial premining worthwhile and allow MarsOne to actually make use of it. Maybe I should have said "allows to fund activities and make purchases in fiat related to the actual mission roadmap" instead of "raise money".

Keep in mind that the difficulty needs to be high enough to make it resistant to attacks...
See the above answer regarding the credentials incorporated into each block by a (network) of security servers that could form the backbone of a Martian internet.

Let me know what needs to be done, in your opinion, to convince you of Marscoin? Curious!
legendary
Activity: 2576
Merit: 1186
January 31, 2014, 04:19:35 PM
#46
The faster blocks make sense though if you want to protect yourself from Earth miners (see discussion in their forum under "Evil Earth Miner Scenario".
Except it does nothing to protect you...
Earth just needs more hashrate, and their blockchain trumps Mars', no matter how delayed.

It will make it harder as it adds a much higher burden on a co-ordinated attack from Earth. Yes, they will have more hashing power, but to advance such a large blockchain in such a short time frame it will need a concerted effort from Earth to do that.
I don't see how; the terrestials will just naturally create a forked blockchain, and if they have a higher hashrate, it will replace the martian one as soon as it gets far enough ahead...
On top of that, if the Marscoin network adds a timestamping or other security measures that are local to Mars an attack from Earth is impossible due to the distance.
I'm not aware of any such measures that can be taken without centralising the currency.

Regarding the coin supply: it aligns with the departure of the Marscoin blockchain to Mars:
Why is this a good thing? I'd think it make more sense to have most of the coins mined on Mars itself, not most on Earth...

Depends. The idea is to raise the money NOW to actually help make the Mars mission a reality. Thus you increase the incentive for people to get into the currency before the blockchain leaves. Once on Mars, the Marscolonists have better things to do than to put their servers on a mining armsrace - Marscoin on Mars will then mainly become a transaction network. If need be, the minimal mining that will continue could be monopolized by MarsOne or whoever runs the base to pay early Mars settlers to incentivise the growth of the colony.
Raising the money is done with the premine. Beyond that, it doesn't help raise money at all.
If all the subsidy is mined before leaving Earth, then where is the incentive for martians to mine at all, much less maintain the same hashrate as it had on Earth?
Keep in mind that the difficulty needs to be high enough to make it resistant to attacks...
member
Activity: 68
Merit: 10
January 31, 2014, 03:59:18 PM
#45
The faster blocks make sense though if you want to protect yourself from Earth miners (see discussion in their forum under "Evil Earth Miner Scenario".
Except it does nothing to protect you...
Earth just needs more hashrate, and their blockchain trumps Mars', no matter how delayed.

It will make it harder as it adds a much higher burden on a co-ordinated attack from Earth. Yes, they will have more hashing power, but to advance such a large blockchain in such a short time frame it will need a concerted effort from Earth to do that. On top of that, if the Marscoin network adds a timestamping or other security measures that are local to Mars an attack from Earth is impossible due to the distance.

The retargeting is similar to 540 block coins, like Terracoin.
Imitating a scamcoin which has had problems as a direct result of the change, is not the best idea Wink
Terracoin's solution to its problems was adopting a 540 retarget. They are by far not the only Litecoin blockchains with a similar retargeting interval. Check out the discussions here: https://github.com/terracoin/terracoin/issues/14

Regarding the coin supply: it aligns with the departure of the Marscoin blockchain to Mars:
Why is this a good thing? I'd think it make more sense to have most of the coins mined on Mars itself, not most on Earth...

Depends. The idea is to raise the money NOW to actually help make the Mars mission a reality. Thus you increase the incentive for people to get into the currency before the blockchain leaves. Once on Mars, the Marscolonists have better things to do than to put their servers on a mining armsrace - Marscoin on Mars will then mainly become a transaction network. If need be, the minimal mining that will continue could be monopolized by MarsOne or whoever runs the base to pay early Mars settlers to incentivise the growth of the colony.

Appreciate your thoughts and input!!

legendary
Activity: 2576
Merit: 1186
January 31, 2014, 12:42:49 PM
#44
The faster blocks make sense though if you want to protect yourself from Earth miners (see discussion in their forum under "Evil Earth Miner Scenario".
Except it does nothing to protect you...
Earth just needs more hashrate, and their blockchain trumps Mars', no matter how delayed.

The retargeting is similar to 540 block coins, like Terracoin.
Imitating a scamcoin which has had problems as a direct result of the change, is not the best idea Wink

Regarding the coin supply: it aligns with the departure of the Marscoin blockchain to Mars:
Why is this a good thing? I'd think it make more sense to have most of the coins mined on Mars itself, not most on Earth...
member
Activity: 68
Merit: 10
January 31, 2014, 10:56:20 AM
#43
Awesome idea, and justifies the creation of an altcoin... but

Awful parameter selection:
  • scrypt is a proven failure.
  • There is no demonstrable benefit to faster blocks.
  • There is no clear standard for a "Mars minute" with which to define block time in (I'd question if this unit even should be defined).
  • Difficulty retarget is probably too fast and will allow luck to influence difficulty a lot.
  • Why change total coin supply?

Additionally, it would really make sense to try to address the shortcomings of Bitcoin with known solutions, in any new altcoin.
I don't see any evidence of that here.. Sad

The devs are pretty active on IRC @freenode #MRS and #Marscoin, they would probably love to hear from you. It's an international team, I am pretty sure they might be interested in feedback/help.
The faster blocks make sense though if you want to protect yourself from Earth miners (see discussion in their forum under "Evil Earth Miner Scenario". The retargeting is similar to 540 block coins, like Terracoin.

Regarding the coin supply: it aligns with the departure of the Marscoin blockchain to Mars:

2014 50 coins
2016 25 coins
2018 12 coins
2020 6   coins
2022 3   coins
2024 1   coin
legendary
Activity: 2576
Merit: 1186
January 31, 2014, 01:52:27 AM
#42
Awesome idea, and justifies the creation of an altcoin... but

Awful parameter selection:
  • scrypt is a proven failure.
  • There is no demonstrable benefit to faster blocks.
  • There is no clear standard for a "Mars minute" with which to define block time in (I'd question if this unit even should be defined).
  • Difficulty retarget is probably too fast and will allow luck to influence difficulty a lot.
  • Why change total coin supply?

Additionally, it would really make sense to try to address the shortcomings of Bitcoin with known solutions, in any new altcoin.
I don't see any evidence of that here.. Sad
full member
Activity: 210
Merit: 100
January 30, 2014, 08:48:04 PM
#41
One of the devs here.

Official history of Marscoin:
==================

Marscoin was created 1.1.2014 and launch date posted on website for mid-January (official end of the MarsOne indigogo campaign). Pre-mining the initial donation for MarsOne with the help of some early miners who found the project during that time. The team is international right now, with devs in the US, Europe, Russia...

We had slightly over 500k coins outstanding after launch. The majority of which is dedicated to MarsOne. Last week was the first official week. We spread the network launch on space related websites ... space.com, mars society etc. for one week to give them an extra edge for one week. We jumped to 2 MH/s during that week.

This weekend we spread the word at the Bitcoin conference in Miami (as mentioned on the launch page), giving away faucet.marscoin.org cards and officially launching in the Bitcoin community. It was definitely easier to explain the idea of Marscoin to the Bitcoin crowd than the space community. Lot's of great feedback and support!

Any questions, let me know.

Just to let u know , theres a fairly new exchange "cryptorush.in" that has quite a few new coins listed and will list pretty much any coin for a 0.25 btc fee if you are the developer..or the community can just request without paying a fee, they will consider but they might not list it. Just an idea to get ball rolling on trading
full member
Activity: 210
Merit: 100
January 30, 2014, 06:58:15 PM
#40
full member
Activity: 210
Merit: 100
January 30, 2014, 06:46:50 PM
#39
sr. member
Activity: 252
Merit: 250
January 30, 2014, 04:19:53 PM
#38
Hmm nice coin but you must promote youre self more i didnt hear from this coin before...Any way i just started with mining 2 min ago :DD
newbie
Activity: 17
Merit: 0
January 30, 2014, 04:02:58 PM
#37
mars.pooler.cc works fine
full member
Activity: 140
Merit: 100
January 29, 2014, 12:23:42 PM
#36
Now there is a WORKING p2pool for Marscoin here:
( and possibly the only P2POOL with marscoin ) Grin


                p2pool.neocities.org
member
Activity: 68
Merit: 10
January 28, 2014, 08:32:57 PM
#35
Scam coin.

-Bad specs (24h diff retarget will destroy the coin as you'll have 1 day of mining and one day off mining)
-300k premine that like what 6k blocks which will results in what ? a week or more of the whole network mining and the coins split on the whooooole network
-1.2mill insta mined coins? really?
I was looking forward to this, but it's was ruined pretty badly

Great that you were as excited about Marscoin as we are. Maybe I can clarify some things. The specs are similar to Terracoin, and other altcoins that use a 540 block retarget. Marscoins 590 retarget roughly every 25 hours was chosen in light of the difficulties Litecoin based altcoins faced in recent months.

380k premined is a donation for MarsOne. I don't know what you mean by "coins split". Rather than having a few rich miners premining we donated all initial coins to MarsOne. Since the launch a lot of miners have joined us and mined either solo or in pools. Looking forward to any questions. You can also join our IRC channel @freenode #MRS and #Marscoin


member
Activity: 68
Merit: 10
January 28, 2014, 08:23:35 PM
#34
OSX Wallet not Working for Download

We have a new wallet for Mac, supporting wider range of Mac OS versions. http://marscoin.org/plans.html Please give it a try.

hero member
Activity: 588
Merit: 501
January 28, 2014, 07:29:10 PM
#33
Scam coin.

-Bad specs (24h diff retarget will destroy the coin as you'll have 1 day of mining and one day off mining)
-300k premine that like what 6k blocks which will results in what ? a week or more of the whole network mining and the coins split on the whooooole network
-1.2mill insta mined coins? really?
I was looking forward to this, but it's was ruined pretty badly
hero member
Activity: 686
Merit: 503
January 28, 2014, 04:05:04 PM
#32
OSX Wallet not Working for Download
member
Activity: 68
Merit: 10
January 28, 2014, 07:31:35 AM
#31
i was so pissed lately that there wasn't money enough now for space exploration with crisis etc... I want us to be on Mars on 2020 !!!!!

exactly! that was the motivation behind Marscoin... forget government funding, let's just make this happen privately.

help - windows client - Incorrect or no genesis block found. Wrong datadir for network?

you can send crash reports / bugs etc to [email protected], they'll help you.
legendary
Activity: 1526
Merit: 1012
January 28, 2014, 03:44:06 AM
#30
i was so pissed lately that there wasn't money enough now for space exploration with crisis etc... I want us to be on Mars on 2020 !!!!!
newbie
Activity: 1
Merit: 100
January 28, 2014, 03:06:55 AM
#29
Thank you for the donations !
full member
Activity: 238
Merit: 100
vovan115
January 28, 2014, 03:36:05 AM
#29
help - windows client - Incorrect or no genesis block found. Wrong datadir for network?



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