Author Topic: COL2 The Very Best Cryptocurrency Choice For 1. Miners 2. Investors 3. Traders?  (Read 2554 times)

mouseman

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COL 2.0

Is it possible we could conceivably pull together the resources and code, features and specific algos from other successful coins that have some of the features we desire and pull them all together into the same mega-features coin (COL 2.0)? How realistic is the endevour and how many would welcome a mega-feature type coin on relaunch?


Sudo recommended sending out newsletters concerning 2.0 happenings as we secure further involvement perhaps from additional people. I think the newsletter is smart to get people involved in what their wishlist may be in recreating a coin. If you think many different features can be spliced together within the same coin..as opposed to just a few..all the better to let people know we can still consider their wishes/features and possibly implement them in the col 2.0 redesign. OBVIOUSLY we cannot be all things to all people and it would be very unreasonable to to attempt to make everyone happy as we would surely end up with a pretty bloated coin I reckon.

That said, I am certain many people would just want to point to specific features they respect and ask for it to be apart of 2.0.

Meaning, there is one main orchestrator pulling all those feature code requests/additions together to get closer to the 2.0 coin.

IF, col 2.0 is loaded with features that other coins have successfully implemented that INVESTORS WANT and appreciate as valuable, col 2.0 could be a very very serious contender.

Crestington, could you flat out tell me if we are in some way limited with respect to what we can code? I mean, is there some reasonable and acceptable limitations on coding features in the same coin?

Could we hypothetically do x11 algo, and go back to our POW/POS hybrid and throw in myriadcoin's ability to mine using different algo's and use cpu/gpu/asic? And throw in Blackcoin's dark wallet anonymize coin sending feature or TIPS/fedoracoin's anonymous "coin mixer"...and throw in a splash of blackcoin's multipool feature and buy col 2.0 with the various mined coins?

Just a hypothetical question..is it a nightmare to pull all those features together in the same coin or would we be looking at a coding nightmare resulting in day to day code-conflicting problems if we created a very feature rich crypto-currency?

I'd really like a mind bending coin that was very feature rich myself, but have no idea if "code bloat" becomes a concern with respect to excessive coding within the same coin and managing/updating it when necessary. I wouldn't want to create a crazy, impossible to manage Frankenstein of a coin, but on the other hand I think strongly col 2 would be much more sought after with further features.

Features within a single coin that:

1. MINERS would want to mine (shorter term profit), and CONTINUE mining with the blackcoin Multi-pool,

2. INVESTORS would want to buy (longer term profit) and hold (gain additional coins through staking),

3. TRADERS would want to trade (high coin float = more liquidity),

4. DEVELOPERS  would be green with envy wishing they had created COL 2.0 because it would personify the quintessential "cryptocurrency" and an advanced coding amalgamation far beyond where it all started out with Bticoin 5 long coding years ago.

Crestington is far more intelligent about the working of all this, as such can more properly discuss the value of creating a multi-mining pool like what Blackcoin has created:

http://www.blackcoinpool.com/

I think this is a very valuable concept that could assist COL 2.0 is so many ways it would be time consuming to enumerate them. And although this is not necessarily be apart of the Colossus Coin code algo, it still could be considered an extension of it.

Suffice it to say, amongst the benefits would include:

* securing the col2 blockchain through mining.

* getting us back to the basics of mining (which is pretty fun if you are a miner looking for great coins with an appreciate value proposiiton)

* continually keeping buying pressure on Colossus Coin 2 as we mine OTHER profitable altcoins and then use those funds to actually buy our own COL 2. coins and distribute those to our miners.

* an additional upside is that price manipulation of col 2.0 would be a bit harder with this strategy.

Many other benefits as well Crestington may have the time to add here.




mouseman

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Reddcoin, a much liked cryptocurrency boasting one of the largest crypto communities to date, has announced a change in algorithm which the markets responded initially with a 300% move. Called "Proof of Stake Velocity"

http://www.reddit.com/r/reddCoin/comments/249dnl/major_announcement_reddcoin_to_implement_new/

White Paper Here:
http://www.reddcoin.com/papers/PoSV.pdf

Off topic a bit, Reddcoin has one of the nicest layouts of all subreddits (not to mention a unique logo):
http://www.reddit.com/r/reddCoin/



Crestington

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Ahh, new computer, so much to write...

Well we would have to test all that and see what the bloat would be but Blockchain bloat mainly relies on transactions and block times where all of it is comprised into the transaction ledger, faster transactions = faster Blockchain growth.

From a coding aspect I don't think we are too limited to what we can do and splicing all those things in wouldn't be all that difficult.

There are several things I would include on top of what you proposed which is the X11 auto-checkpoint feature as well it's in-wallet messaging feature and peercoin's wallet where you have to use your password in order to send coins.

We could do merge mining as well (confirms to add a small amount of bloat) and even implement darkcoins darkwave feature for difficulty re-adjustment so there are many options and I'm sure we have missed quite a few good pieces.

I want to go all frankenstein on this and load er up and test all these things so we know what works and what doesn't and just get us that much closer to where we want to be. I have a few days off starting tomorrow so can finish off my initial post I made on the future of COL and how we can begin coding it all and get into the thick of it myself.
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lovecol

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Ahh, new computer, so much to write...

Well we would have to test all that and see what the bloat would be but Blockchain bloat mainly relies on transactions and block times where all of it is comprised into the transaction ledger, faster transactions = faster Blockchain growth.

From a coding aspect I don't think we are too limited to what we can do and splicing all those things in wouldn't be all that difficult.

There are several things I would include on top of what you proposed which is the X11 auto-checkpoint feature as well it's in-wallet messaging feature and peercoin's wallet where you have to use your password in order to send coins.

We could do merge mining as well (confirms to add a small amount of bloat) and even implement darkcoins darkwave feature for difficulty re-adjustment so there are many options and I'm sure we have missed quite a few good pieces.

I want to go all frankenstein on this and load er up and test all these things so we know what works and what doesn't and just get us that much closer to where we want to be. I have a few days off starting tomorrow so can finish off my initial post I made on the future of COL and how we can begin coding it all and get into the thick of it myself.


great.
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mouseman

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I like what I am hearing, and the Myriad Coin, dark wallet, improved Blackcoin difficulty readjusting (mining), as well as the additional noted mentions are all something I am interested in at this point. Others better start chiming in quick or the trajectory of Colossus Coin 2 is going to be hammered together without YOUR opinions/contributions.

Heck, we don't get some new/additional thoughts from others, I could just rename/REBADGE this coin "Frankenstein Coin" because that's what this beasty bad boy of a crypto may end up being slicing and dicing together into one coin all the gooey goodness from other coins...in addition to our own home town cauldron cooking !!!!

OK, no input? It's settled, new coin called "Frankenshtook Coin"! LOL "THE coin prepared in advance for the coming New Millennium Dystopia."

Crestington

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Actually that's kinda a cool idea, call it Colossuscoin 2.0 and we could call it the Frankenstein of coins and see if we could get a picture of Frankenstein holding the Col logo or maybe have a new logo with the C all sewn together. Could take pieces of thefFrankenstein movie and have the Col logo as its face lol.
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mouseman

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Exactly. MARKETING is a very important element to any business venture. And we should not be looking at Col 2 as anything but a business venture we are marketing. OK, well of course it does have intrinsic value the world over...that doesn't hurt its global acceptance either. :)

I mentioned "Frankenshtook" because I have not researched how far we could use the name "Frankenstein" without concern of copyright issues. That is a VERYYY old book and movie and may have even lost any protection that it once had in that sense (copyrights becoming general public domain and such after a certain time). It's a Mary Shelley writing from back in 1818 for Pete's Sake!!!!

But yeah, "the Frankestein Of Coins" has "legs" and alot could be done with the concept of pulling together the best of the best features and algorithms, blockchain protections and wallet unique features, backed up by optional sending of anonymous coins when desired in the wallet client...all features and coin pulled together from other SUCCESSFULLY IMPLEMENTED coins.

I think one of the newer moves in crypto development will see further advances and utilities incorporated right into the wallet itself. Most are just copy and paste from LTC....and we can do better than that. I mean, come on...most wallet's don't even use commas when showing coin counts:

2100043256

Is it too much to ask or code this instead:

2,100,043,256

Europeans understand the commas are = to periods.

We can do alot more in our wallet and should be brainstorming on that and watching what other coins are considering and implementing. The crypto wallet of today, guaranteed is going to look alot different soon enough and will have some useful features built directly into the client soon enough. We can create a thread soon dedicated to any ideas specifically for the WALLET.

mouseman

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Because many of us continue to think a Proof Of Stake feature within Colossus Coin 2 (similar to the original) is an avenue we want to include, we need to be responsible with following along with what other cryptos are/have completed with their POS/POW hybrid coins. As well as those coins that were originally a strict Proof Of Work coin that are now segueing to a hybrid POW/POS algo like Saturncoin (currently wrestling with the move).

Karma (formerly KarmaCoin) has been cautiously moving towards a decision to potentially matriculate from its current POW to a hybrid POW/POS coin and I would like to copy and paste some of that relevant conversation here for us to consider. Just fireside chat...nothing hard core coding discussion.

Simply put, POS coins or hybrid coins are something to really take seriously and know your code!



http://www.reddit.com/r/Karmashares/comments/24r22p/question_whats_going_on_with_pos/

pac_onreddit 3 points 1 day ago

Isn’t a shift to PoS vital for long-term network security? At this moment the network hash rate is roughly 350 MH. At a daily mining reward of 158 Million Karma, that’s in the neighbourhood of 450.000 Karma per day per MH. Given a price of 40 litoshi, Karma is already being mined at a loss with gpu’s considering the power costs in my country. In 50 days from now the mining rewards are getting lowered to just 50 million a day. At a stable price, the network hash rate will fall to 100 MH. I’m no cryptotech expert, but that seems like a disaster waiting to happen. One 300 MH titan pointed at the us would get 75 % of the network. I love the plans and vision, and I am expecting to see a rise in prices, but the price needs to triple to counter this problem. Maybe I’m just seeing ghosts here, no one seemed to be worried about hashstrike and they owned 75% of the network for weeks. Can someone enlighten me?



kosmost 1 point 23 hours ago*

We realize this, of course. But to rush into PoS prematurely would be a disaster. I'm sure our community would rather Karma make the transition more carefully and in a way that is more planned.

Again, it's not been done before.

We will do PoS, hopefully soon, but we will do it carefully. Anything else could be a disaster and then our hash rate would be 0.

40 litoshi in 65 days I think would be an extremely conservative estimate. But time will tell.

 

pac_onreddit 1 point 23 hours ago

I’m not trying to make you rush into anything. I just didn’t get a sense of necessity, and I am trying to find out if there is one. You might want to take a look at what they are doing with saturncoin. I believe they are in the middle of a transition right now. Of course it is going to be quite the challenge. We can make a better informed decision after their attempt.



kosmost 1 point 23 hours ago

We have been talking about offering both PoS and PoC rewards, so if you own X coins for X days then you get both ownership of Karmashares and also interest from PoS.

It would certainly make Karma a unique coin to own.

 

kosmost 1 point 21 hours ago

thanks for the info about Saturncoin, by the way ;)



cryptowho 1 point 17 hours ago*

You are correct. I have mentioned to you that Saturncoin is turning pos. But it wont be altering their own code to add pos. Its very difficult to do that and i am still looking for a coin that has actually done that. What others do is dump the old source code POW and clone an other existing POS coin. The problem is that such POS coin is hard to find.

Imagine if we had forked a clone of blackcoin. , zeit coin, whitecoin asia coin. Mint coin. They all had code bugs at beginning that caused almost all to fail. Can we afford this errors. Almost all those coins are backed by huge Btc whales who at the moment the code broke they through btcs and got tons of dev jump in to help. They didn't know something was wrong with the code until it broke. Even now that they patched that error who knows what the next problem will be

If we change we must do it while we feel comfortable that we can fix it.

Almost every other coin out there that is changing from POW to POS are most likely forking an existing coin and hopping for the best. I doubt they understand the code and how to maintain it. Dont want to be invested in those coins when things break down :(

We dont want our coin to go through that.





learminer
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https://bitcointalk.org/index.php?topic=579973.760

Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares LLC // New Windows Wallet
May 07, 2014, 10:37:04 PM
   
 #768
Could be interesting to watch how SAT fares in their PoS transition. I believe no coin has made that switch yet from a completely PoW to a PoS coin (they're also cutting their coin sully from 15M to 7.7M)? Certainly not a trivial thing to do. Even several PoW/PoS hybrid coins had serious issues in the last weeks and all they had to do was clone BC sourcecode (apparently some didn't and would up making stupid coding errors).

DMD is a PoW/PoS hybrid that got a huge boost out of the recently announced changes to their coin.
SAT profited from the PoS announcements alone (they were at 1-2 sat before first PoS rumors hit, taking them to a high of 15 sat and now hovering at around 5 sat with occasional dips/spikes).
ECC on the other hand didn't profit from the (always planned) switch at all so far, their market situation actually reminds me of the last weeks of the KARM/BTC market on Mintpal. HUGE sell walls that create a downward spiral for ECC value.

I am pretty certain that a move to PoS would move Karma's price up temporarily, maybe another short 3-4x increase followed by a decline back to 1.5x today's level. Long term I believe it will have absolutely zero effect. What kosmost and the team are creating for Karma is 100x more important for the future value of the coin. The major PoS benefit (long-term) might be network protection from incoming Scrypt ASICs. Then again an algo-change would have the same effect. No idea if that'd be any easier to implement though. I kinda understand why the team hesitates to come to a final decision.
« Last Edit: May 08, 2014, 03:08:13 AM by mouseman »

Crestington

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I thought I had replied to this one

Yes, thank you very much for all the extra info, it helps us quite a bit.

I have been working through computer tweaks and all the software needed for the basics. I have the blackcoin blockchain downloaded so will be going through editing and compiling shortly and will keep you updated as I go. Apologies if I don't seem as though I'm not posting so much, been doing more software hunting, running around and mainly just trying to get past the cloning stage.
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Crestington

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I have been using this guide for Cloning http://archive.today/AbyN1

I feel as though it's the most comprehensive step by step guide and so if a few of us can do it, we can help each other with any problems we may have. We can also make edits to the guides we use and update them to make them easier to understand.
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