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Topic: MC2: A cryptocurrency based on a hybrid PoW/PoS system - page 38. (Read 195184 times)

legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
This is interesting. Will be watching.
hero member
Activity: 714
Merit: 510
3.) I did not mean to make any recommendation to one thing or the other (except not feeling comfortable with exponential growth), my main focus was to provide some illustrations to support the discussion. Personally, I see no big difference in logarithmic growth or total cap of coins like for BTC/LTC etc., as I have also stated (logarithmic growth was proposed elsewhere in the thread, that's why I included it here). From that I am personally inclined to favor the "total cap" approach like in BTC/LTC etc., because it is supposed to have a similar long-term deflationary effect on coin value as logarithmic or linear growth, but makes the coin easier to understand by the public (which one should not underestimate).
But in principle, from design point of view, I would also not strongly oppose a carefully parameterized logarithmic approach (though I do not see the big benefit in it).
I agree also that a carefully parameterized logarithmic approach can work, but the key word is it has to be very careful. This would require a mathematician or math genius to pull off and it just seems easier to take a known model which works (Bitcoin) and tweak it up or down a few percentage points because you can just use chart history to have an indication of how that market operates. Going entirely into the theoretical mathematics approach is considerably more difficult in my opinion because now you will have to run some simulations to have any idea how it will work. I'd be open to this idea if you'd like to run some simulations on a test network and analyze the results. If you can show that it can work in a simulation or through a case study that would be enough for me to become a believer but right now I favor the approach that Satoshi used with some miner tweaks, basically I'll call it Bitcoin on steroids. Take what worked with Bitcoin and do it slightly better, make it slightly faster, slightly more secure, slightly more scarce. In some areas perhaps it might even be that Netcoin is much more secure. I'd like to see Netcoin become the Platinum to Bitcoin gold while also being faster and more secure.
4.) About the time it takes till nb of coins in circulation saturate: This has to be designed carefully, because the miners need an incentive. If we go too soon from block reward financed miners to fee-financed miners, we may see the situation that there is not yet enough market cap in the coin, such that it is not worth while for the miners continuing operation, and as a result many miners switch off and the network gets prone to attacks. I suppose that Satoshi has thought about this carefully and has set the parameters of the BTC protocol carefully having this in mind.
I am not recommending any values here, I am just saying that this aspect also needs to be carefully considered, we have to look at it from all sides, user side as well as operation side, to get an overall balanced solution. Priority should be to have a secure and sustainable coin, then the rest (user demand) will come automatically. Otherwise, it will be just another "pump&dum(b/p)" coin.
I agree. I'm open to look at it from all sides as well. Please continue to support Netcoin with your knowledge on mathematics, I actually value that contribution because I learn a thing or two even if I don't always agree it advances the debate in the right direction.
5.) Last not least: I completely disagree with the "ideology" that scarcity of the coin is essential. You are promoting this view in several threads in this forum, and I have just written a long reply here "https://bitcointalksearch.org/topic/m.2123332", where I am trying to show the flaws in this reasoning. In essence, I guess we can all agree that the question where the decimal point of a coin is (i.e. what its nominal final cap limit is in currency units) does not primarily lie in the protocol itself, but in the marketed (and in the clients implemented) currency unit. We could well define two or three names of units for the same currency, that both use the same protocol.
EXAMPLE: We could say:

Base unit = 1 taco (like "1 satoshi" in BTC world)
1e5 tacos = 1 mNTC
1e8 tacos = 1 NTC (= 1000 mNTC)
1000 NTC = 1 MC2 (= 1000 NTC)

Cap limit (for example) = 168 Million NTC = 0.168 Mill MC2

In the clients the user can set the unit that he wants to use (MC2, NTC or mNTC), just like today the user can already select amongst mBTC and BTC in many major clients. Then the user is free to use the "MC2" unit if he wants to act as a "collector of rare coins", or he can use the NTC unit (and later the mNTC unit) if he rather wants to use the coin as a medium of exchange for real goods and services (here too many zeros on either side of the decimal point are unpleasant).

Note that also in today's world we have different accoutning units: We have Dollars (or Euros) vs. Cents, we have dimes, quarters, pennies etc., and on the other side we have a "grand" referring to 1000 USD.

So all this is rather a marketing than a protocol topic, and there are much more important topics to be discussed to make MC2/NTC a good (the best) coin.

You make a very interesting point about how clients can deal with this. I agree that is the approach which should be used because what we are talking about is mostly a psychological thing and not a technical thing. Somehow Satoshi pulled off something unique because he turned Bitcoin into a digital gold and I think this psychological accomplishment is important to the success of a coin. I propose Netcoin clients actually implement something like this from default, like perhaps let the user decide between Netcoin and MC2.

I do think scarcity is important but only early on. The purpose of scarcity or at least the effect it seems to have in the Bitcoin experiment is that it creates bubbles. There are many who argue these bubbles are a bad thing because of the collapse but if you look at the overall trend of Bitcoin it's going up and these bubbles actually are creating media attention and attracting people to Bitcoin. I think Netcoin could launch without having the same kind of bubble growth and collapse because by the time it launches there will be much more actual currency infrastructure. That being said the price of a Netcoin being high for whatever reason I cannot explain, it's like once the price of a Netcoin surpasses the dollar now it's considered a major currency, now it's passed a psychological barrier,  and when Bitcoin passed $100 it passed a psychological barrier and now it's still over $100 only in my opinion because it was over $100 previously and surpassed that psychological barrier. When it got over $100 it also attracted attention from the media, and people started asking questions about it. If each Bitcoin were 50 cent right now it would be much more difficult to bring it up in conversations but if the price is $100 or $1000 each then it gives users the excuse to be talking about it.

Basically I'm saying scarcity is good for marketing and PR if it results in high prices and the idea that Netcoin/Bitcoin/Litecoin is ahead of the dollar in the currency race and ahead of whatever the most expensive currency is. It's all psychological, can you explain to me why this happens? Can you also explain to me why the dollar and Euro are considered to be of greater value than other currencies besides ideology, politics and psychology? I don't see what else the dollar and Euro have going on beyond the fact that a lot of people want them, view them as valuable, and want to move to Europe or the USA to work for them. The American dream explains why people want dollars, that and the fact that with dollars you can send money back home, what can attract dollar holders to Netcoins in the same way? What about Euro holders?

Yeah you can say Netcoins is technically superior, mathematically sound, a global currency, but it's going to be considered a sort of play money until it passes the psychological barriers and then it becomes "real" money to most people. Bitcoin had to go through that phase and only when it passed $100 is it being considered real money.
member
Activity: 69
Merit: 10
So is there any ETA for MC2? Looks promising.

Thing is, Netcoin's (it's official name) got to be developed first, and as you can see, there is still a rather scholarly debate going on as to how to implement some things. It will get done, but if this coin is going to be any better than Bitcoin, Tacotime (the guy who proposed it) needs to get it right. That takes time, and so there is no ETA at the moment. Just keep checking back. The way it's going to work, we'll be given plenty of notice before mining commences.

And welcome to the forums! Smiley
sr. member
Activity: 278
Merit: 251
Bitcoin-Note-and-Voucher-Printing-Empowerer
Hi Luckybit,

1.) I am not a mathematician (although I admittedly was the best-in-class math student at highschool) Wink But now I have become an engineeer since a long time already.

2.) When I mentioned the point in time when our sun burns out, and what would happen by then, I forgot to add this symbol:  Wink  (I thought the intention would be clear anyway)

3.) I did not mean to make any recommendation to one thing or the other (except not feeling comfortable with exponential growth), my main focus was to provide some illustrations to support the discussion. Personally, I see no big difference in logarithmic growth or total cap of coins like for BTC/LTC etc., as I have also stated (logarithmic growth was proposed elsewhere in the thread, that's why I included it here). From that I am personally inclined to favor the "total cap" approach like in BTC/LTC etc., because it is supposed to have a similar long-term deflationary effect on coin value as logarithmic or linear growth, but makes the coin easier to understand by the public (which one should not underestimate).
But in principle, from design point of view, I would also not strongly oppose a carefully parameterized logarithmic approach (though I do not see the big benefit in it).

4.) About the time it takes till nb of coins in circulation saturate: This has to be designed carefully, because the miners need an incentive. If we go too soon from block reward financed miners to fee-financed miners, we may see the situation that there is not yet enough market cap in the coin, such that it is not worth while for the miners continuing operation, and as a result many miners switch off and the network gets prone to attacks. I suppose that Satoshi has thought about this carefully and has set the parameters of the BTC protocol carefully having this in mind.
I am not recommending any values here, I am just saying that this aspect also needs to be carefully considered, we have to look at it from all sides, user side as well as operation side, to get an overall balanced solution. Priority should be to have a secure and sustainable coin, then the rest (user demand) will come automatically. Otherwise, it will be just another "pump&dum(b/p)" coin.

5.) Last not least: I completely disagree with the "ideology" that scarcity of the coin is essential. You are promoting this view in several threads in this forum, and I have just written a long reply here "https://bitcointalksearch.org/topic/m.2123332", where I am trying to show the flaws in this reasoning. In essence, I guess we can all agree that the question where the decimal point of a coin is (i.e. what its nominal final cap limit is in currency units) does not primarily lie in the protocol itself, but in the marketed (and in the clients implemented) currency unit. We could well define two or three names of units for the same currency, that both use the same protocol.
EXAMPLE: We could say:

Base unit = 1 taco (like "1 satoshi" in BTC world)
1e5 tacos = 1 mNTC
1e8 tacos = 1 NTC (= 1000 mNTC)
1000 NTC = 1 MC2 (= 1000 NTC)

Cap limit (for example) = 168 Million NTC = 0.168 Mill MC2

In the clients the user can set the unit that he wants to use (MC2, NTC or mNTC), just like today the user can already select amongst mBTC and BTC in many major clients. Then the user is free to use the "MC2" unit if he wants to act as a "collector of rare coins", or he can use the NTC unit (and later the mNTC unit) if he rather wants to use the coin as a medium of exchange for real goods and services (here too many zeros on either side of the decimal point are unpleasant).

Note that also in today's world we have different accoutning units: We have Dollars (or Euros) vs. Cents, we have dimes, quarters, pennies etc., and on the other side we have a "grand" referring to 1000 USD.

So all this is rather a marketing than a protocol topic, and there are much more important topics to be discussed to make MC2/NTC a good (the best) coin.
hero member
Activity: 714
Merit: 510
newbie
Activity: 28
Merit: 0
I don't know if you are new to it or not eretron but the golden rule of the Internet is to never request ETAs. You would do well to learn it.
full member
Activity: 156
Merit: 100
So is there any ETA for MC2? Looks promising.
sr. member
Activity: 308
Merit: 250
The number of coins in existence (money supply) would actually still continue growing when our sun becomes a red giant, billions of years from now

This bit I disagree on, I doubt anyone will still be mining the netcoin blockchain then... but you never know!
sr. member
Activity: 278
Merit: 251
Bitcoin-Note-and-Voucher-Printing-Empowerer
Relating to the question on how the money supply should be designed over time for a new coin, here is some visualization of various options. The reference is the "BTC-design" with block reward halving every 4 years and a final amount of 21 Mill coins.

For comparison, all curves are normalized to have the same amount of coins (=2,625,000) after the end of the first year.

What we see:
  • For all non-exponential schemes the inflation rate eventually becomes arbitrarily small.
  • With the BTC-like scheme, the inflation rate decreases exponentially (=linear in logarithmic diagram).
  • With constant linear increase of money supply, the inflation rate decreases linearly (like a y=1/x function), falling below 1% after 100 years.
  • With logarithmic increase of money supply, money supply and inflation rate basically behave the same as for the constant mining rate, but inflation rate decreases much faster, depending on tuning of the parameters.

It appears that logarithmic (or even linear) growth could be an alternative to a BTC-like hard limit. Especially the logarithmic solution appears to be an attractive alternative. However, in essence it would have very similar properties as the "hard limit" of the BTC-design. Increase of money supply would not match growth of earth population or productivity [which anyway cannot be predicted upfront], just like for the BTC method, and therefore a coin with logarithmic growth would show a similar deflationary behaviour (just to a slightly lower extend as BTC). The number of coins in existence (money supply) would actually still continue growing when our sun becomes a red giant, billions of years from now (note: with the parameterization of below's figures, money supply for the logarithm method after 100 years is 22.4 Mill coins, and after 1 Billion years still less than 100 Mill coins).



Zoomed: First 30 years:

Update note: I did not read the MC2 whitepaper until just now, so I ensure that the similarity of Fig. 2 on page 7 of the whitepaper with the bottom left diagram above is the result of independent work.

Zoomed: First 10 years:


For comparison: US$ exponential growth of money supply (note the logarithmic y-axis):


PS: Here is the source code used for the curves above:
Code:
% Script file for Matlab or Octave, tested with Matlab 2007b and GNU Octave 3.0.0.
%
% This script illustrates the Total Money Supply and the corresponding yearly rates of Money Supply increase
% (="inflation") of a (crypto-)currency, depending on the scheme how coins are brought into existence.
%
% Schemes considered include:
% - constant inflation rate (=exponential money supply growth)
% - linear growth of money supply (i.e. constant rate at which new coins are being generated)
% - logarithmic growth of money supply
% - Bitcoin-like coin generation with regular block reward halving
% - no growth, constant money supply

N = 248; % number of years, must be multiple of 4

timelimit=30; % how much to zoom-in after pressing , to show years 0 till "this year"


money_supply_after_1_year = 50*52500; % 52500*50 corresponds to nb of bitcoins after 1 year


%% I. Calculate the Money Supply:
%
% About the index: Index "2", i.e. money_supply_xxxx(2), denotes the amount of existing coins after the end
% of the 1st year or start of year 2.

time = [0:1:N];


%% I - (0) Constant
money_supply_const = money_supply_after_1_year*ones(1,N+1);

%% I - (1) Linear Growth
money_supply_linear = money_supply_after_1_year*time;

%% I - (1b) Logarithmic Growth:
% The amount of coins being mined is decreased like this:
% In the first year, coins are mined at a constant rate, and add up to Nc coins at the end of year one.
% The number of coins that are newly created in year n (n>=2) is equal to b/n * Nc,
% where b is a positive coefficient, typically between 0 and 2, but can also be greater than 2.
a = 1.0; % Nc = a*money_supply_after_1_year*ones, i.e. money supply after 1st year can be tuned by this parameter.
b = 1.8; % 0<=b<=2, or b >2 also possible
c = 1.0; % Exponent for "nb of years" variable. Greater values mean slower growth. If =0, logarithmic growth becomes linear.
money_supply_log = a*money_supply_after_1_year*ones(1,N+1);% this is the nb of coins after 1st year, i.e. money_supply_log(2)
money_supply_log(1) = 0;
for k = 3:N+1,
    n = k-1; % calculate for year "n" now:
    money_supply_log(k) = (a*money_supply_after_1_year) * b/(n)^c + money_supply_log(k-1);
end

%% I - (2) Exponential Growth (1% Inflation Per Year)
money_supply_exp1 = money_supply_after_1_year*ones(1,N+1);
money_supply_exp1(1) = money_supply_exp1(2)/1.01;
for k = 3:N+1,
    money_supply_exp1(k) = 1.01*money_supply_exp1(k-1);
end

%% I - (2b) Exponential Growth (5% Inflation Per Year)
money_supply_exp5 = money_supply_after_1_year*ones(1,N+1);
money_supply_exp5(1) = money_supply_exp5(2)/1.05;
for k = 3:N+1,
    money_supply_exp5(k) = 1.05*money_supply_exp5(k-1);
end

%% I - (3) Bitcoin-like Growth
money_supply_BTC = NaN*ones(1,N+1);
money_supply_BTC(1) = 0;
money_supply_BTC(2) = 1*money_supply_after_1_year;
money_supply_BTC(3) = 2*money_supply_after_1_year;
money_supply_BTC(4) = 3*money_supply_after_1_year;
money_supply_BTC(5) = 4*money_supply_after_1_year;
increase = 1/2*money_supply_after_1_year; % block reward halving every 4th year
for k = 6:4:N+1,
    for kk = k:k+3,
        money_supply_BTC(kk) = money_supply_BTC(kk-1) + increase;
    end
    increase = increase/2;% block reward halving every 4th year
end
money_supply_max = max(money_supply_const, money_supply_linear);
money_supply_max = max(money_supply_log,  money_supply_max);
money_supply_max = max(money_supply_exp1, money_supply_max);
money_supply_max = max(money_supply_exp5, money_supply_max);
money_supply_max = max(money_supply_BTC,  money_supply_max);

%% II. Calculate the Inflation Rate:
inflation_rate_const  = inf*ones(1,N);
inflation_rate_linear = inf*ones(1,N);
inflation_rate_log    = inf*ones(1,N);
inflation_rate_exp1   = inf*ones(1,N);
inflation_rate_exp5   = inf*ones(1,N);
inflation_rate_BTC    = inf*ones(1,N);
for k = 2:N-1,
    inflation_rate_const(k)  = money_supply_const(k+1)  / money_supply_const(k)  - 1;
    inflation_rate_linear(k) = money_supply_linear(k+1) / money_supply_linear(k) - 1;
    inflation_rate_log(k)    = money_supply_log(k+1)    / money_supply_log(k)    - 1;
    inflation_rate_exp1(k)   = money_supply_exp1(k+1)   / money_supply_exp1(k)   - 1;
    inflation_rate_exp5(k)   = money_supply_exp5(k+1)   / money_supply_exp5(k)   - 1;
    inflation_rate_BTC(k)    = money_supply_BTC(k+1)    / money_supply_BTC(k)    - 1;
end

% Special correction for exponential inflation rates:
inflation_rate_const(1) = inflation_rate_const(2);
inflation_rate_exp1(1)  = inflation_rate_exp1(2);
inflation_rate_exp5(1)  = inflation_rate_exp5(2);

%% III. Plot Results:
figure
subplot(2,2,1);
plot(time, money_supply_exp5,'r-.','linewidth',2); hold on;
plot(time, money_supply_exp1,'r-','linewidth',2); hold on;
plot(time, money_supply_linear,'b-','linewidth',2);
plot(time, money_supply_log,'c--','linewidth',2);
plot(time, money_supply_BTC,'m-','linewidth',2);
plot(time, money_supply_const,'g-','linewidth',2);
grid on;
title('Total Money Supply');
xlabel('Time in Years')
ylabel('Total Money Supply (Coins in Existence)')
legend('Inflation 5% p.a.','Inflation 1% p.a.','Constant Linear Increase',['Logarithmic Increase, a=',num2str(a),', b=',num2str(b)],'BTC-like Increase','No Money Increase','location','northwest');

subplot(2,2,2);
semilogy(time, money_supply_exp5,'r-.','linewidth',2); hold on;
semilogy(time, money_supply_exp1,'r-','linewidth',2); hold on;
semilogy(time, money_supply_linear,'b-','linewidth',2);
%semilogy(time, money_supply_log,'c--','linewidth',2);
semilogy([0.25, 0.5, time(2:end)], [[0.25, 0.5]*money_supply_log(2),money_supply_log(2:end)],'c--','linewidth',2);
% semilogy(time, money_supply_BTC,'m-','linewidth',2);
semilogy([0.25, 0.5, time(2:end)], [[0.25, 0.5]*money_supply_BTC(2),money_supply_BTC(2:end)],'m-','linewidth',2);
semilogy(time, money_supply_const,'g-','linewidth',2);
grid on;
title('Total Money Supply (Logarithmic Scale)');
xlabel('Time in Years')
ylabel('Total Money Supply (Coins in Existence)')

subplot(2,2,3);
plot(time(1:end), 100*[inflation_rate_exp5(1),inflation_rate_exp5],'r-.','linewidth',2); hold on;
plot(time(1:end), 100*[inflation_rate_exp1(1),inflation_rate_exp1],'r-','linewidth',2); hold on;
plot(time(2:end), 100*inflation_rate_linear,'b-','linewidth',2);
plot(time(2:end), 100*inflation_rate_log,'c--','linewidth',2);
plot(time(2:end), 100*inflation_rate_BTC,'m-','linewidth',2);
plot(time(1:end), 100*[inflation_rate_const(1),inflation_rate_const],'g-','linewidth',2);
grid on;
title('Yearly "Inflation" Rate of Total Money Supply');
xlabel('Time in Years')
ylabel('Yearly Increase of Money Supply in Percent')
legend('Inflation 5% p.a.','Inflation 1% p.a.','Constant Linear Increase',['Logarithmic Increase, a=',num2str(a),', b=',num2str(b)],'BTC-like Increase','No Money Increase','location','northeast');

subplot(2,2,4);
semilogy(time(1:end), 100*[inflation_rate_exp5(1),inflation_rate_exp5],'r-.','linewidth',2); hold on;
semilogy(time(1:end), 100*[inflation_rate_exp1(1),inflation_rate_exp1],'r-','linewidth',2); hold on;
semilogy(time(2:end), 100*inflation_rate_linear,'b-','linewidth',2);
semilogy(time(2:end), 100*inflation_rate_log,'c--','linewidth',2);
semilogy(time(2:end), 100*inflation_rate_BTC,'m-','linewidth',2);
semilogy(time(1:end), 100*[inflation_rate_const(1),inflation_rate_const],'g-','linewidth',2);
grid on;
title('Yearly "Inflation" Rate of Total Money Supply (Logarithmic Scale)');
xlabel('Time in Years')
ylabel('Yearly Increase of Money Supply in Percent')
legend('Inflation 5% p.a.','Inflation 1% p.a.','Constant Linear Increase',['Logarithmic Increase, a=',num2str(a),', b=',num2str(b)],'BTC-like Increase','No Money Increase','location','southeast');
a=axis;
axis([a(1), a(2), 1e-3, 1e2]);


disp('--> Press to zoom in...')
pause
for k=1:4,
    subplot(2,2,k);
    a=axis;
    if k < 3,
        a4=money_supply_max(timelimit);
    elseif k == 3,
        a4=30;
    else
        a4=a(4);
    end
    axis([a(1), timelimit, a(3), a4]);
end
(Update: added 3rd parameter "c" for the logarithmic curve in the code above. Default c=1.0, while c=0.0 makes the growth linear.)
newbie
Activity: 28
Merit: 0
I added a board to my forum for Netcoin, It would be awesome to get some content about it there. It's at altcoinforum.com
hero member
Activity: 503
Merit: 500
Looking forward to this debut, sounds promising.
legendary
Activity: 966
Merit: 1001
Energy is Wealth
Quote
To speed up settlement you should really look at Ripple's proof of consensus (PoC), perhaps as a replacement for the PoW in your system.  For commercial use a cryptocurrency has to settle and be confirmed in seconds, not minutes.

Hmmm...  PoC followed by PoS?  A fast, low energy coin with a constant eternal coinbase and perpetual rewards for the users?  That would be interesting

Bitcoins confirmations speed is simply unacceptable, dont matter which way u bend, twist or turn it.
A Crypto cant be revolutionary and then take considerably longer to finalise as an existing system.
hero member
Activity: 574
Merit: 500

If you could do one more thing, get this coin ready on an exchange site before launch, I think that would help the coin tremendously because it prevents people from getting scammed.

Just my two cents.

+1 I fully agree. If BTC-E can add a copycat coin shortly after launch they should have no problem adding a planned out coin that adds some true innovation like this one (ahead of release). Very pleased with the concept of this coin, nice work tacotime. The way this coin is being released should have been a standard for all of the recent coins. Community feedback, support, planning, and involvement are key to the longterm success of the coin.

We're hoping to have an exchange ready too, yes.

Fixed the section numbering being messed up in the paper (whoops), newest is 0.31 but I'm sure there are lots of typos still in it that need adjusting.

If you're interesting in helping crowdfunding for this coin (and possibly acquiring some coins from it) please head to the thread about it on the official forums: http://platinumdigitalreserve.com/forum/index.php?topic=16.0

The latest means seems to be offering stakeholder tickets, which means that investors will get some coins in the first 91 days in exchange for securing the blockchain.  Unlike a premine, some work securing the network will be used in exchange for coins given to the investors.

Have you stabilised the POS issues that PPCoin guys are having ??

Without actually reading in detail I would think that there would be too many combinations of circumstance to cover the POS algo without there being holes where ppl will be able to game the system to unfair or lopsided advantage..or is the POS factoring going to be kept low so as not to cause too much issue if these factors do pop up Huh
legendary
Activity: 1145
Merit: 1001
I would like to ask that the base coin amounts be increased by a factor of 10 or even 100.

The reason for this thinking is the colored coins feature.

If coins are really scarce then you can only issue small amounts of coins in the genesis transactions. So the colored coins will always be very small fractional amounts, like 0.000123, which is very user unfriendly! Also, you would be using up nearly all the available digits after the decimal point.

If the rewards per block are something like 125 (PoS) and 250 (PoW) then there are lots of coins around and that makes it much nicer and user-friendly to generate colored coins currences. You can easily generate colored coins in the hundreds at least.

This would make it really useful as a kind of metacoin.

legendary
Activity: 1145
Merit: 1001
If Litecoin is the silver to Bitcoin, will Netcoin be the platinum to bitcoin?
 Grin
sr. member
Activity: 308
Merit: 250

Can u give us an ETA mate Huh

1 day ..1 week ... 1 month Huh


[/quote]

+1 a rough estimate would be good.
hero member
Activity: 574
Merit: 500

If you could do one more thing, get this coin ready on an exchange site before launch, I think that would help the coin tremendously because it prevents people from getting scammed.

Just my two cents.

+1 I fully agree. If BTC-E can add a copycat coin shortly after launch they should have no problem adding a planned out coin that adds some true innovation like this one (ahead of release). Very pleased with the concept of this coin, nice work tacotime. The way this coin is being released should have been a standard for all of the recent coins. Community feedback, support, planning, and involvement are key to the longterm success of the coin.

We're hoping to have an exchange ready too, yes.

Fixed the section numbering being messed up in the paper (whoops), newest is 0.31 but I'm sure there are lots of typos still in it that need adjusting.

If you're interesting in helping crowdfunding for this coin (and possibly acquiring some coins from it) please head to the thread about it on the official forums: http://platinumdigitalreserve.com/forum/index.php?topic=16.0

The latest means seems to be offering stakeholder tickets, which means that investors will get some coins in the first 91 days in exchange for securing the blockchain.  Unlike a premine, some work securing the network will be used in exchange for coins given to the investors.

Can u give us an ETA mate Huh

1 day ..1 week ... 1 month Huh

sr. member
Activity: 481
Merit: 252
See if you can add in demurrage to this coin (like freicoin).  A demurrage currency using PoS would be awesome.

You would be able to recycle lost wallets, keep a constant coinbase and provide the interest of the PoS.  And use very little electricity.

To speed up settlement you should really look at Ripple's proof of consensus (PoC), perhaps as a replacement for the PoW in your system.  For commercial use a cryptocurrency has to settle and be confirmed in seconds, not minutes.

Hmmm...  PoC followed by PoS?  A fast, low energy coin with a constant eternal coinbase and perpetual rewards for the users?  That would be interesting.
legendary
Activity: 1484
Merit: 1005

If you could do one more thing, get this coin ready on an exchange site before launch, I think that would help the coin tremendously because it prevents people from getting scammed.

Just my two cents.

+1 I fully agree. If BTC-E can add a copycat coin shortly after launch they should have no problem adding a planned out coin that adds some true innovation like this one (ahead of release). Very pleased with the concept of this coin, nice work tacotime. The way this coin is being released should have been a standard for all of the recent coins. Community feedback, support, planning, and involvement are key to the longterm success of the coin.

We're hoping to have an exchange ready too, yes.

Fixed the section numbering being messed up in the paper (whoops), newest is 0.31 but I'm sure there are lots of typos still in it that need adjusting.

If you're interesting in helping crowdfunding for this coin (and possibly acquiring some coins from it) please head to the thread about it on the official forums: http://platinumdigitalreserve.com/forum/index.php?topic=16.0

The latest means seems to be offering stakeholder tickets, which means that investors will get some coins in the first 91 days in exchange for securing the blockchain.  Unlike a premine, some work securing the network will be used in exchange for coins given to the investors.
sr. member
Activity: 289
Merit: 250

If you could do one more thing, get this coin ready on an exchange site before launch, I think that would help the coin tremendously because it prevents people from getting scammed.

Just my two cents.

+1 I fully agree. If BTC-E can add a copycat coin shortly after launch they should have no problem adding a planned out coin that adds some true innovation like this one (ahead of release). Very pleased with the concept of this coin, nice work tacotime. The way this coin is being released should have been a standard for all of the recent coins. Community feedback, support, planning, and involvement are key to the longterm success of the coin.
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