Topic: New cryptocurrency vDinar needs miners to start (Read 1444 times)

Its main points have already been made, so it's going well! Pretty much just updating the main changes on this and the other vDinar topics on this forum, I'd prefer not to specify too much parameters as there's no sure parameter vDinar is going to use (both difficulty and N value are of great impact on the result) so I'm just explaining the way it works, but for any question just ask!

Might be an interesting project if you're really gonna work on it. Do you guys have a development roadmap we can check?

We luckily already see some coins doing great against ASICs with Scrypt-N, it's being upgraded with some little precautions! By not hardcoding timestamps for the N variable and by linking it instead to the blockchain height vCrypt becomes more dynamic, it follows the mining scale instead of guessing it! Of course, as blocks don't store the height information themselves, it meant to do much more than just setting some timestamps, but I'm proud of the results. Don't worry, blocks alone haven't been edited, just some additional informations are addressed when calling block loading and execution functions, so there's no additional hard space to invest for this!

Interesting if it truly is only minable by CPU.  I dont have my CPU pointed at anything at all 99.9% of the time. I would be interested in giving a try for awhile when its available to see how it all works out.  Great to see its ASIC resistant though, that makes me intrigued to read more about the project. Best of luck to you!

Nice to hear it from someone who has been here! I hope we'll improve this thing until our first official release! 

I have spent some time in your part of the world and I think I understand the problem that you're trying to find a solution for and the mindset of the people that live there.  I'll take a look at it and try some test mining to see how it goes.

Algorithm updated (more info in the original thread linked at the top of the page).
Not using Scrypt anymore: we implemented our own edit (vCrypt) following the ScryptN path and therefore making the hash function too unstable for a parallel program to build an ASIC on, or to improve GPU mining. CPU mining will therefore be the profitable way of mining this coin.
Differently from ScryptN, vCrypt is based on the blocks height to determine the N exponential factor instead of hardcoded timestamps, therefore avoiding miscalculations.
Specific parameters regarding difficulty changes will be edited in order not to increase exponentially the required power. The N variable will yet assure that no GPU implementations will be profitable, or at least not enough to beat CPUs.

GitHub updates will be published in the coming days to upload the vCrypt edit. We will add a couple of help functions in order to get the N value when asking for mining info.

The built-in miner has proven to work very well and without providing any error, CPUminer also can be used with the already existing ScryptN algorithm (because CPUminer requires you to write the N value by hand everytime it changes) but we have been already looking to make an automatic vCrypt edit for that, reading the last stored block header.

Web utilities are also being created or improved, like web wallets stored on our main peer, exchange networks and statistics (we're now also checking the pool setup for our new algorithm change).

Oh no that's exactly the point, we have 4 different currencies in 4 different countries speaking the same language (and not even counting 3 where they used to officially speak SerboCroatian till 20 years ago and still mostly do). Now, you may ask what does a language have to do with a new cryptocurrency but in this case it does: people sometimes need to cross 2 or 3 national borders to mantain their business and there's no profitability in changing your money everyday in Kune, Marke or serbian Dinars to keep your affairs going. There's nearly no business that could go on avoiding to buy/sell in his neighbouring balkan countries.
Of course one could just say "why not Bitcoins?" and that's not wrong, we just wanted to assure a fully SerboCroatian community, translated services or even usual utilities like pools. Starting a new coin gives some kick off to let average people mine the coin instead of just buying it from the first day. We'll try to use the news portals existing under our domain to spread this project and use our budget to sponsor them.
We're therefore trying to change from scrypt to something reproducing an algorithm like the one from Monero and increase the CPU/GPU profitability (ASICs would ruin the coin distribution of course, they're very rare in our area).

I'm not angry over anything, your project does not affect me in any way so I couldn't care less. I often invest in small projects to help them get going, so I'm trying to tell you from a point of investor. Even for people in that countries, the reason to use cryptocurrency is if they want to buy something online (if they just want to send money person to person it's much better to use bank if they are from the same country) and for that you need to get vendors to accept your currency first. That is problem even for Bitcoin.

First of all, we are still applying changes, we never said the full release will be "Litecoin renamed", we're doing our own algorithm to be applied but we're also caring to provide all the mining softwares for it (there's a reason if we're launching it on 2018).
I just wanted to state that we're not doing from scratch hoping one day it will work and stop if it doesn't as we thought it would, therefore we have our basic layer to reatreat on and we build every new feature step by step.
Also, you seem not to know the way people from our countries react to foreign projects. There's a much bigger chance they will try something presented in their own language, and that's also the point: the way we will advertise it. We wouldn't be spending our budget in donations to Bitcoin, but we will knowing that this one will bring our name. Dinari have been the currency uniting all of ex-Yugoslavia for a century, people will feel it much nearer than Bitcoin or any of the international altcoins. If anything we will be the ones losing, not some unfortunate miner who spent a couple of days supporting the project. So I don't see all these reasons to get angry over it.

I understand what you are trying to say, but let me rephrase. You just copy pasted coin, changed name, and expect someone to mine because of political reasons ? If Bitcoin (the most popular crypto currency) is far from being popular why would some shitcoin be popular ? (That is the term for coins like your's)

No one forces anyone to spend their time or mining power. It's just one of the many opportunities to mine coins with non-professional equipment, even your usual CPU. In the full article you could have read that we're not providing changes to the algorithm, we will just spend our budget trying to slowly implement it in SerboCroatian speaking areas, where Bitcoin and other altcoins are still far away from being popular. You can follow the project or not, it's not like we're stopping you from mining popular coins. We have still no direct interest in this and we are doing it because of simple political ideas.

Local use, not mining. One could just trade it like any other coin.

I've sent you a pm.

ASICs? Bad for the coin.

I don't understand why are you posting in the international section then ? If it's only for local use go post it in local section. I don't see the point in just copy/pasting litecoin code and renaming it to something else. Can you explain me why the fuck should anyone dedicate mining power towards this ?

ASIC? No thanks..