MonetaryUnit Coin Swap Poll | Bitcointalksearch.org

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: bizzyb on August 01, 2016, 08:09:42 AM

Thanks to all who have voted & contributed to discussion.

We're solidifying the ideas now for when MUE migrates.
The plan will be aiming for a coin swap end date of 40 days from now which ties in with a coin supply of 100 million MUE (give or take a little).

So, if you want to be part of this then watch all the usual channels for updates in the coming days.

Just a heads up though, X11, Dash clone, and if you want some of the solo masternode action, make sure you have 1 million MUE to pay for it Wink

"shared" options in masternodes will also be offered of course.

Now is a good time to buy, we fully intend in making huge progress with this project over the next 12 months & wisely investing the development fund in further growth
https://bittrex.com/Market/?MarketName=BTC-MUE

More updates coming with clear and solid plans and direction.

Come and join in active discussion in our Slack, everyone welcome
https://mueslack.herokuapp.com/

Glad to hear the good news! These will be exciting times for MonetaryUnit. Now, everything will be ready to proceed towards the new coin algorithm to achieve long term success. I have a feeling that MUE will become a very popular cryptocurrency. It will have all the goods of Dash + the support and development of a solid dev and community. Now, I will continue to grow my stash of MUE to have at least 1 million coins for the masternodes. Cheesy

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Thanks to all who have voted & contributed to discussion.

We're solidifying the ideas now for when MUE migrates.
The plan will be aiming for a coin swap end date of 40 days from now which ties in with a coin supply of 100 million MUE (give or take a little).

So, if you want to be part of this then watch all the usual channels for updates in the coming days.

Just a heads up though, X11, Dash clone, and if you want some of the solo masternode action, make sure you have 1 million MUE to pay for it Wink

"shared" options in masternodes will also be offered of course.

Now is a good time to buy, we fully intend in making huge progress with this project over the next 12 months & wisely investing the development fund in further growth
https://bittrex.com/Market/?MarketName=BTC-MUE

More updates coming with clear and solid plans and direction.

Come and join in active discussion in our Slack, everyone welcome
https://mueslack.herokuapp.com/

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: bizzyb on July 28, 2016, 09:12:17 AM

Quote from: NeuroticFish on July 28, 2016, 06:22:36 AM

Yep, coins that can be mined only by CPU are not so common and I think that there are plenty of people that would like to mine with CPU.
It's an alternative to really think of.

It's certainly something that is worth considering.

Yeah that is something that I might miss if MUE will have a change of algo. The only thing that I liked about Dash was the Masternodes feature. Will it be possible that MUE could still be a CPU minable coin but at the same time to get Masternodes features too? It would be pretty cool to see it become a reality, making a coin minable for any average Joe as well as being able to support the MUE network with Masternodes.

Also, @bizzyb I'm looking for a physical MUE coin to be able to use it as cold storage. I've always loved to have one where I can deposit my MUE there and store it for long term in a nice physical MUE coin made out of brass or Gold, or maybe even Silver! If such thing would've existed, I would've bought one already. Cheesy

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: NeuroticFish on July 28, 2016, 06:22:36 AM

Yep, coins that can be mined only by CPU are not so common and I think that there are plenty of people that would like to mine with CPU.
It's an alternative to really think of.

It's certainly something that is worth considering.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

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Yep, coins that can be mined only by CPU are not so common and I think that there are plenty of people that would like to mine with CPU.
It's an alternative to really think of.

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: bizzyb on July 27, 2016, 07:12:57 AM

Quote from: notsofast on July 27, 2016, 06:13:26 AM

I like the idea of simple changes being the easiest to manage.

Tiered masternodes carry a huge risk: equal voting rights between all tiers means a cloud of the cheapest nodes can take over the network. A large MUE holder could run a ton of noob nodes and sway any vote, including pulling an unfair share of the masternode rewards via the delegating process.

One healthily expensive masternode per IP would be the safest, IE 1 million MUE. Obviously you can run more than one, but it'd be challenging to run enough to create unfairness in the network, and you don't have to puzzle over fairness of relative pricing.

Mining algo is a tough choice. I like CPU-mineable algos that stay true to MUE's original vision of Me, U, and Everyone being able to mine it. Coding a pool interface, where the user can enter pool info and mine directly from the wallet, would be fantastic in supporting this vision, and wouldn't screw over casual CPU miners if/when GPU mining is available for whatever algo is chosen (if it's not been developed already).

That's the conflict I had, which is why I was thinking of a tiered node stucture, which by the sounds of it is dead in the water?
Maybe then some kind of multi-algo approach similar to what JoinCoin (and maybe others) has tried for the POW portion might address the accessibility?

To address the "accessibility" of MUE to new comers & less well funded, we can offer masternode shares.
So for a tiny fraction of the cost of a masternode, people can still get the benefit and enjoyment of being part of a masternode.

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: notsofast on July 27, 2016, 06:13:26 AM

I like the idea of simple changes being the easiest to manage.

Tiered masternodes carry a huge risk: equal voting rights between all tiers means a cloud of the cheapest nodes can take over the network. A large MUE holder could run a ton of noob nodes and sway any vote, including pulling an unfair share of the masternode rewards via the delegating process.

One healthily expensive masternode per IP would be the safest, IE 1 million MUE. Obviously you can run more than one, but it'd be challenging to run enough to create unfairness in the network, and you don't have to puzzle over fairness of relative pricing.

Mining algo is a tough choice. I like CPU-mineable algos that stay true to MUE's original vision of Me, U, and Everyone being able to mine it. Coding a pool interface, where the user can enter pool info and mine directly from the wallet, would be fantastic in supporting this vision, and wouldn't screw over casual CPU miners if/when GPU mining is available for whatever algo is chosen (if it's not been developed already).

That's the conflict I had, which is why I was thinking of a tiered node stucture, which by the sounds of it is dead in the water?
Maybe then some kind of multi-algo approach similar to what JoinCoin (and maybe others) has tried for the POW portion might address the accessibility?

sandog

newbie

Activity: 21

Merit: 0

X11 if you want me to mine!

notsofast

legendary

Activity: 1517

Merit: 1042

@notsofast

I like the idea of simple changes being the easiest to manage.

Tiered masternodes carry a huge risk: equal voting rights between all tiers means a cloud of the cheapest nodes can take over the network. A large MUE holder could run a ton of noob nodes and sway any vote, including pulling an unfair share of the masternode rewards via the delegating process.

One healthily expensive masternode per IP would be the safest, IE 1 million MUE. Obviously you can run more than one, but it'd be challenging to run enough to create unfairness in the network, and you don't have to puzzle over fairness of relative pricing.

Mining algo is a tough choice. I like CPU-mineable algos that stay true to MUE's original vision of Me, U, and Everyone being able to mine it. Coding a pool interface, where the user can enter pool info and mine directly from the wallet, would be fantastic in supporting this vision, and wouldn't screw over casual CPU miners if/when GPU mining is available for whatever algo is chosen (if it's not been developed already).

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: bizzyb on July 26, 2016, 03:18:45 AM

Quote from: Dev_Sempak_coin on July 26, 2016, 01:54:46 AM

Other (supports master nodes)
i vote for support master nodes, that's make people keep buying and hold mue, but we must increase the minimum balance maybe 1m mue.

Yeah, the true "master nodes" I think should require a significant investment.
It helps reduce the liquidity in the market, and also potentially motivates investors to buy MUE, all helping increase the price.

As my post above suggests, The_Prof and I both like the idea of tiered "nodes" with incremental % return, and incremental cost in MUE.
Obviously the top tier Master node would cost the most and give the greatest return, however, to improve the accessibility of nodes we could have tiers something like:
Noob Node - 10,000 MUE - 2% return
Ninja Node - 50,000 MUE - 4% return
Monster Node - 100,000 MUE - 6% return
Master Node - 1,000,000 MUE - 10% return

I'm just making up the names & the return %, but hopefully you get what I mean.
We'd have to look carefully at these numbers to make sure they work.

edit: This would be a worthy replacement for the MUE Banking services, which by their nature were "centralised".
Also, I wonder whether we could implement some kind of "lock-in" period for the masternodes, or whether that would even be appealing?
I think if you want the benefit of the node % return, then you should be willing to lock in your MUE for at least a fixed term, again, helping decrease the liquidity of the market.

This would definitely be a great way to attract more investors into MUE. I see this as a well thought out plan to keep investors supporting masternodes thus making the MUE network stronger and adding value to the coin itself. If this would be the path that MUE would take, then so be it for long term success.

I would be the one of the first investors for this. Just let me know when its ready and I will gladly support the MUE network by 100% Cheesy

Redrose

hero member

Activity: 756

Merit: 502

To add something, if a change would ever to be done, I would still prefer that the new algorithm would Qubit, Keccak or better than else Lyra first of the name. The two ones because they'll never be ASIC-attacked and the last one for the really low power consumption. Best is still no change.

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: Dev_Sempak_coin on July 26, 2016, 01:54:46 AM

Other (supports master nodes)
i vote for support master nodes, that's make people keep buying and hold mue, but we must increase the minimum balance maybe 1m mue.

Yeah, the true "master nodes" I think should require a significant investment.
It helps reduce the liquidity in the market, and also potentially motivates investors to buy MUE, all helping increase the price.

As my post above suggests, The_Prof and I both like the idea of tiered "nodes" with incremental % return, and incremental cost in MUE.
Obviously the top tier Master node would cost the most and give the greatest return, however, to improve the accessibility of nodes we could have tiers something like:
Noob Node - 10,000 MUE - 2% return
Ninja Node - 50,000 MUE - 4% return
Monster Node - 100,000 MUE - 6% return
Master Node - 1,000,000 MUE - 10% return

I'm just making up the names & the return %, but hopefully you get what I mean.
We'd have to look carefully at these numbers to make sure they work.

edit:
Also, I wonder whether we could implement some kind of "lock-in" period for the masternodes, or whether that would even be appealing?
I think if you want the benefit of the node % return, then you should be willing to lock in your MUE for at least a fixed term, again, helping decrease the liquidity of the market.

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: rahmad2nd on July 26, 2016, 01:21:50 AM

about supply ?? so MUE will keep 100M supply or more ??

In my post above I've suggested a reduction in cap from 1,000,000,000,000,000 (1 US quadrillion) to 4,000,000,000 (4 US billion).
The initial principles of MUE being accessible to new users, and also being a relatively low value per unit crypto are still very important, but fact is, I set up the coin initially to do as much as I could to put off the sort of crypto people who like to take advantage, one of those things I did being the ludicrous coin cap.

MUE is currently divisible to 5 decimal places, though the new coin will be divisible to 8 decimal places like BTC is "currently" (I bet that will change again if BTC hits big numbers).
Happy to hear suggestions about coin cap, though we should still keep in mind the principles above.

Dev_Sempak_coin

sr. member

Activity: 308

Merit: 250

Other (supports master nodes)
i vote for support master nodes, that's make people keep buying and hold mue, but we must increase the minimum balance maybe 1m mue.

rahmad2nd

legendary

Activity: 2548

Merit: 1009

Leading Crypto Sports Betting & Casino Platform

about supply ?? so MUE will keep 100M supply or more ??

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

I would prefer Dash's X11 algorithm as well as Masternodes feature. I have the feeling that it will be very beneficial towards the long term success of MonetaryUnit. Perhaps, reducing the coin supply a little bit might make MUE a little more scare thus making an increase in value. Just my opinion. Wink

shadowrider26

newbie

Activity: 5

Merit: 0

Quote from: bizzyb on July 25, 2016, 08:20:58 AM

Quote from: bathrobehero on July 25, 2016, 08:12:31 AM

It would be a shame if it would get turned into an ASIC coin with x11.

Hi, thanks for the feedback.
Any suggestions for an alternate route we could take?
Thanks

I would prefer to see an algo or a couple of algos added - keep quark as well. Especially if you go POS.

bathrobehero

legendary

Activity: 2002

Merit: 1051

ICO? Not even once.

Scrypt as a single algo is terrible because ASICs can kick the difficulty to the moon and leave so the blockchain will stuck for hours - regardless of difficutly retarget.
Some coins are turning away from it or at least adding other algos as well which can keep the blockchain moving.

SHA256, scrypt and now x11 has ASICs but barely any people own them compared to CPUs and GPUs so it causes poor distribution.

I think the best is to have a mix of algos so everyone is happy. By everyone I mean let's say 1 CPU friendly algo, one or two ASIC algo and a couple GPU algo.

bizzyb

legendary

Activity: 1652

Merit: 1001

Don't look at my signature!

Quote from: raphma on July 25, 2016, 11:40:21 AM

i would go with scrypt.

Hi, any particular reason, or is it an algo you just prefer?
Thanks

raphma

sr. member

Activity: 350

Merit: 250

i would go with scrypt.

Topic: MonetaryUnit Coin Swap Poll (Read 1835 times)