Topic: [PRE-ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine - page 7. (Read 24098 times)
July 26, 2014, 11:15:34 AM
Hoping for a stratum algo.. Will it there be?
July 26, 2014, 11:11:54 AM
is there any hope for someone non-technical to mine this coin?
I think you should be able to manage. I'm assuming you've mined other coins before?
The M7 is a new algo but it shouldn't be that hard for you to set up your CPU to mine XCN.
Maybe the dev or someone else could include a mining guide for newbies in the wiki at some point
i have only a very small amount of experience. but i have time to set up, test etc.
also, since XCN is cpu, doesn that mean it is vulnerable to botnets? (which also will make it harder for a regular guy just mining with a cpu?)
i like this coin, but i think i probably will just have to buy from miners at high $$
July 26, 2014, 11:08:08 AM
is there any hope for someone non-technical to mine this coin?
I think you should be able to manage. I'm assuming you've mined other coins before?
The M7 is a new algo but it shouldn't be that hard for you to set up your CPU to mine XCN.
Maybe the dev or someone else could include a mining guide for newbies in the wiki at some point
July 26, 2014, 10:37:48 AM
I am preparing my money for launching ;]
July 26, 2014, 01:49:50 AM
when will XCN be launched?
did you read the OP? your answer is in the first sentence.
July 26, 2014, 01:47:27 AM
when will XCN be launched?
July 26, 2014, 01:04:11 AM
is there any hope for someone non-technical to mine this coin?
July 25, 2014, 11:03:52 PM
by the way, which version of ripemd and tiger will you be using for this coin ?
It's ripemd160 and tiger not 2 (1 maybe?)-192
July 25, 2014, 09:07:30 PM
by the way, which version of ripemd and tiger will you be using for this coin ?
July 25, 2014, 05:03:16 PM
So it adjusts at each block dynamically, but what is the initial block reward value?
Couldn't find it in the OP..
I believe it will start at about 243 XCN per block. Couldn't find it in the OP..
July 25, 2014, 04:28:01 PM
So it adjusts at each block dynamically, but what is the initial block reward value?
Couldn't find it in the OP..
Couldn't find it in the OP..
July 25, 2014, 12:40:07 PM
I don't understand why there are so many people demanding to lower total supply. The only difference between 184 billion and 18 million is the decimal point. If 18 million, you can buy 1000 coins and if 184 billion, you can buy 10 million coins with the same amount of BTC. The value of you stash in BTC doesn't change. If you want such a low supply, go buy some shitcoin like 42coin or 365coin instead.
The only thing that matter is how block reward will be calculated over time, i.e. inflation.
I'm pretty sure that Cryptonite will be copied very soon once the code published. Those copy-cat devs probably will choose much lower total supply but much shorter mining period to attract more noob investors.
Dude, Monero and Cryptonite are two different things, I don't think these two are direct competitors. Monero focus on improving privacy of users by unlinkable blockchain, while Cryptonite focus on reducing blockchain size of original Bitcoin code base.
The only thing that matter is how block reward will be calculated over time, i.e. inflation.
I'm pretty sure that Cryptonite will be copied very soon once the code published. Those copy-cat devs probably will choose much lower total supply but much shorter mining period to attract more noob investors.
Please lower the total coins
We have a possible Monero killer here but total supply is too much, a balanced total is best
No too much nor too scarce, keep it within 1 billion
I garuntee you this can outrun Monero but only if the coins have a digestable total
Dont ruin this winner, please
We have a possible Monero killer here but total supply is too much, a balanced total is best
No too much nor too scarce, keep it within 1 billion
I garuntee you this can outrun Monero but only if the coins have a digestable total
Dont ruin this winner, please
Dude, Monero and Cryptonite are two different things, I don't think these two are direct competitors. Monero focus on improving privacy of users by unlinkable blockchain, while Cryptonite focus on reducing blockchain size of original Bitcoin code base.
July 25, 2014, 10:59:02 AM
@bitfreak, you really have a nice project here and I would like to support it but maybe you should consider the total amount of supply of coins to be produced. 1.84 billion coins is unsustainable imho. Why so many coins? How about 184 million or even 84 million?
1.84 billion is perfectly fine, there is nothing "unstable" about it. We've done all we can to make people happy, the specs are now absolutely final and wont be changing. So lets move on to discussing other issues please.Quote
nice concept. Spoken to any exchanges yet?
lazycoins.com has contacted us about adding Cryptonite onto their exchange. Hopefully that'll be setup shortly after release. 
July 25, 2014, 05:27:00 AM
nice concept. Spoken to any exchanges yet?
July 25, 2014, 05:16:49 AM
@bitfreak, you really have a nice project here and I would like to support it but maybe you should consider the total amount of supply of coins to be produced. 1.84 billion coins is unsustainable imho. Why so many coins? How about 184 million or even 84 million?
July 25, 2014, 02:05:01 AM
PLEASE READ:
Ok folks, it has become highly apparent to us that stretching out the mining period as a solution to the huge coin supply issue is not very satisfying for all parties. As a result of the concerns raised we are revising the specs one last time in an effort to please all parties. First of all we are reverting the half life of the block reward back to 10 years like it was it was originally, so that investors don't feel so worried about the long term inflation. Then to appease those people who don't like seeing huge unsightly numbers, we have shifted the decimal 2 places to the left, meaning there will be a total of 1.84 billion XCN, each with 10 decimal places of divisibility instead of 8. We didn't want to scrap the 64 bits of divisibility because we kind of tout that as a feature of the coin, and shifting the decimal place didn't require us to break the current protocol (although reverting back to a 10 year half life did). And before anyone says "but 10 decimal places is unseemly", the numbers can always be rounded down to something more presentable if necessary, and coins such as Monero already use 12 decimal places for each coin.
Ok folks, it has become highly apparent to us that stretching out the mining period as a solution to the huge coin supply issue is not very satisfying for all parties. As a result of the concerns raised we are revising the specs one last time in an effort to please all parties. First of all we are reverting the half life of the block reward back to 10 years like it was it was originally, so that investors don't feel so worried about the long term inflation. Then to appease those people who don't like seeing huge unsightly numbers, we have shifted the decimal 2 places to the left, meaning there will be a total of 1.84 billion XCN, each with 10 decimal places of divisibility instead of 8. We didn't want to scrap the 64 bits of divisibility because we kind of tout that as a feature of the coin, and shifting the decimal place didn't require us to break the current protocol (although reverting back to a 10 year half life did). And before anyone says "but 10 decimal places is unseemly", the numbers can always be rounded down to something more presentable if necessary, and coins such as Monero already use 12 decimal places for each coin.
i think it is a good move...people are impatient and greedy, it is normal and will not destroy the coin.
July 25, 2014, 01:46:14 AM
PLEASE READ:
Ok folks, it has become highly apparent to us that stretching out the mining period as a solution to the huge coin supply issue is not very satisfying for all parties. As a result of the concerns raised we are revising the specs one last time in an effort to please all parties. First of all we are reverting the half life of the block reward back to 10 years like it was it was originally, so that investors don't feel so worried about the long term inflation. Then to appease those people who don't like seeing huge unsightly numbers, we have shifted the decimal 2 places to the left, meaning there will be a total of 1.84 billion XCN, each with 10 decimal places of divisibility instead of 8. We didn't want to scrap the 64 bits of divisibility because we kind of tout that as a feature of the coin, and shifting the decimal place didn't require us to break the current protocol (although reverting back to a 10 year half life did). And before anyone says "but 10 decimal places is unseemly", the numbers can always be rounded down to something more presentable if necessary, and coins such as Monero already use 12 decimal places for each coin.
Ok folks, it has become highly apparent to us that stretching out the mining period as a solution to the huge coin supply issue is not very satisfying for all parties. As a result of the concerns raised we are revising the specs one last time in an effort to please all parties. First of all we are reverting the half life of the block reward back to 10 years like it was it was originally, so that investors don't feel so worried about the long term inflation. Then to appease those people who don't like seeing huge unsightly numbers, we have shifted the decimal 2 places to the left, meaning there will be a total of 1.84 billion XCN, each with 10 decimal places of divisibility instead of 8. We didn't want to scrap the 64 bits of divisibility because we kind of tout that as a feature of the coin, and shifting the decimal place didn't require us to break the current protocol (although reverting back to a 10 year half life did). And before anyone says "but 10 decimal places is unseemly", the numbers can always be rounded down to something more presentable if necessary, and coins such as Monero already use 12 decimal places for each coin.
Well.. I was happy enough with your previous solution but this definitely makes the whole thing even better
Is everything ready for launch on Monday?
July 24, 2014, 10:15:45 PM
This is a great compromise, and it takes a lot of courage to continue to make changes at this point!
Yes well I wouldn't have risked changing the specs this close to release if we weren't basically just reverting back to what we originally announced. Changing the position of the decimal place isn't actually a change to the protocol, all the numbers are stored as integers internally, so representing them as floats isn't even really necessary. Catia said if it were up to him we'd display no decimal place at all, lmao. July 24, 2014, 10:00:57 PM
This is a great compromise, and it takes a lot of courage to continue to make changes at this point! You're doing a great job of now taking your innovation and understanding what people want out of it, and adapting quickly(a few days before launch).
July 24, 2014, 09:46:40 PM
I think there is a good reason to reconsider the 184.4B supply, but I think most of the reasons provided by others so far are irrelevant and illogical. The main reason to lower would be to simplify the product.
Yes I don't think many of the arguments are very solid, and honestly I'd rather if we could focus on more important aspects of the coin, but some of the arguments made are semi-valid and many people are expressing the same opinion, so that is ultimately why we have decided to revise the specs for a 2nd and final time. I think this latest solution will make most people happy, and if doesn't, then I don't know what will. In any case it isn't going to change again, we've flip flopped on it enough. Jump to: