Topic: MC2: A cryptocurrency based on a hybrid PoW/PoS system - page 12. (Read 195184 times)

Lots of attention and potential. Can we expect an announcement from taco soon?

Diligence

I'm not interested in investing more into Bitcoin at this point, I'm interested in who's trying to genuinely improve upon it and is associating themselves with other intelligent, open-minded individuals willing to passionately pursue this.  Forgive me for generalizing, but I bind this disposition to many.  I don't foresee BTC as being the standard in time; rather, it will be discussed in introductory economics courses as a successful firestarter for change.

Slap a cracking name and symbol on it in the end and be patient.  I've been following since the initial public notice and have not lost a bit of interest.

Thank you and those behind the scenes in advance.

RM

What's the timeframe here??

The idea upon releasing the whitepaper was that some people would implement some of the more important features of this coin.  To some extent this has happened, to some extent this has not.  Regardless, there are some other features to be implemented that aren't being detailed or talked about here right now.  We also didn't want to do this without a transparent, reliable dev team, hence why it hasn't gotten off the ground yet.

I didn't really ever intend for this to consume as much of my life as it seems to be doing right now, because I have a lot else going on.  However, there are a lot of people looking for innovation in coins lately, and so recently a lot of attention has come my way.  Now things have progressed from "quiet" to "guardedly quiet" as we try to hash out the actual implementation and get things organized.

Another point which Id like to make is that since this idea has come about almost a year ago, most of the ideas involved with the original "development" have already been implemented in other ACTIVE coins... Dont mean to be rude here but what is mc2 providing that hasnt been done by this point? And do you mean to say that NO development has happened since the may whitepapers were released? What is the innovation here? POW and POS has been done plenty of times and scrypt as well... whats the idea?? We need a little more than "You can trust us" and "we've been working on it" Im legitimately interested, not meant as a troll.

Theres an active coin called Netcoin

One thing that I would like to see is if there are any new features that could be implemented into the Netcoin protocol that have been discussed since the inception of this thread. If you guys have any ideas, please add to the wiki at Netcoin.io

Any time table on seeing an outline or bullet points on the latest idea's besides funding?

I personally love the name Netcoin and I feel that if we have the support of the masses (as evident by the popularity of this thread), we can very well proceed with the name. It's the support and first to hit the major exchanges that are crucial. SEO is no biggie and I can donate my efforts for that.

I stepped away from Bitcointalk for a while to focus on getting things organised for the project. There are a bunch of things happening in the background. The best way to look at everything that's transpired in this thread is to view it as community input into the idea of MC2. When the things that are happening in the background come to fruition, there will be a new thread without any confusion, and we'll direct all traffic from here to the new post (including updating tacotime's main post).


The funding scheme will get tweaked based on what is required for development. It's always been a bit of a ballpark figure and the goal remains to make development real and keep it as fair as possible for everyone who wants to contribute. Obviously we're not going to give you some talk about how valuable things will be. Everyone will understand the risks very carefully, and the coins will be as affordable as possible to make development a reality. Once we have these figures, everyone will know. The good news about how we plan on taking contributions is that we'll use crypto-currency instead (in all likelihood). Some of the crowdfunding platforms aren't very friendly to crypto-currencies, so that has turned into an issue. There'll still be a fixed arbitrary rate to actually fund the development, but we won't pool any money until we have confirmed development. I think that's the most ethical way to do it, and so we can at least minimise the risks everyone has to take.


A good idea to do this really well once development starts is to distribute an information package that people can use to inform what they share. That'll keep the community unified and help all of us. Right now we have an updated paper and a presentation tacotime made which will be used to inform the developers. Once we have development confirmed, I'll personally focus on getting a community package ready and distribute it to everyone for this purpose.


The project name will always be MC2. I don't know what name we need for a general audience. Netcoin was great, and the .io sufficed, but after the other Netcoin was introduced it created unnecessary confusion, and it'll probably continue to create confusion until we create a new thread and reach a new milestone. If anyone has a domain name they'd like to donate, by all means! The focus thus far has been on making it real, so we haven't put all that much thought into a general audience name for the coin. If we get the developers we want to involve, and use the platform we have in mind, MC2 will be something very special. People get mad at and make fun of it taking so long, but if this was an easy process, you'd see innovative crypto-currencies pop up every day. It's hard work, and when development starts, that'll be the real test. The fact of the matter is, we have a leader with great ideas who I trust personally. If tacotime "scams" someone, then you might as well give up on this whole community. The developers we have in mind are exceptional people, and if our camps combine, with your support, MC2 will be a great experiment.

More to come!

It will also need a new name at this point, and to dispel rumors that this coin is a donation scheme/scam. I have been interested all year.. any progress?? Updates?

We have to write a really great article on the potential benefits of Netcoin vs Bitcoin and translate this to chinese and post everywhere

What incentive or equity does the potential funder received for the project. Also please keep us posted as it seems like it's now or never as Bitcoin and the top alt coins are scoring to new heights. I hope to capture some of this magic.

Once there is a feasible amount of progress made with this, any blogger out there with a vested interest who see potential should definitely do a posting about it, i know i will   Don't forget to republish your work on sites such as http://lxer.com and reddit

I've been eying to mine this coin for almost a year, still looking forward to.

We're still figuring out the role of crowdsourcing in the funding -- if we can source this without having to crowdfund and simply checkpoint and validate all blocks for the period where we wait for submitted tickets to mature, we will do so as people would consider this the more "fair" method.

We're hopeful at this point that we have secured our lead dev, and it is someone who knows the Bitcoin backend extremely well.

I don't want to make guarantees on this, but we're trying our best to really get things moving with this alt chain.

What's does the pool funding entail? I thought that we were raising funds through a crowd funding platform. Furthermore, does this mean we have a potential developer willing to sign on?

Thanks!

It appears that we have obtained a pool of prospective funding and we hope that development will begin in Dec or Jan.

We're also playing around with some ideas for other things to use the blockchain for -- I'm pretty sure I have a way to create an embedded, decentralized marketplace system within the blockchain whose relay to clients is optional.

If you have interest in MC2, there's a poll going on about an extended version of the development funding model we want to use for this project. I hope to play an active part in both projects as time goes on.

A lot of what has stalled our own progress here is that we don't have a developer. The ideas are worthy of implementation, regardless of whether you have ideological differences, and it's been our goal to find someone who could implement MC2. There are some really good leads, and we'll even post a proper job posting - but if you understand bitcoind, you understand that only a few people in the world have a strong enough command of that codebase to implement what MC2 proposes. You don't just need a developer, you need someone very good who can work with the ideas.

Furthermore, many people close to the Bitcoin code are in opposition to PoS - which further complicates the search for a very good developer. This is why platforms like btcd sound really promising, because those folks are working really hard to simplify and demystify a lot of the Bitcoin magic that remains undocumented. But btcd is a while off still, so we can't do much but wait unfortunately. It doesn't mean MC2 isn't going to become a reality, but it is an attempt at an explanation for the sometimes frustration and impatience we all feel at times.

What does sound promising about the other proposal is that project has a developer with a high command of the Bitcoin code. I am biased because I support that project as well, so go read for yourself if you want something that'll move faster. Also, please understand I'm not trying to upset anyone or diss any project - I support both and will continue to do so. It would be like getting mad at tacotime for supporting ASICs and then putting a conceptual white paper up that promotes prolonging ASIC resistance.

tldr; If you want altcoin, vote!

Haha. I feel bored. I just want to make this topic more live. lol