http://www.WorkForCrypto.com OCTOBER 26th, 2013 -- We are now opening up our first official project for Tickets. Devcoin is going to be added next to support it through its transition off of mcxnow and encourage non mining coin making like DVC does with Devtome. Spots and Copper Bars will be added after Devcoin. These will be the only 4 coins usable to purchase goods or services. Sellers have the option of cashing out in any of these 4 coins, as well as Bitcoin to encourage non-crypto users to post jobs here and break into the crypto currency scene with no special mining equipment or knowledge WorkForCrypto.com will allow users to both buy and sell their goods and services on a fast, secure platform with reviews left by users themselves to weed out the bullshit. We will be very tough on scammers and people found guilty of not performing their end of the agreement will be dealt with as needed. Buy and sell with confidence knowing there is security and support in place to protect both parties involved. Support will be available to assist with customer needs This is not a web shop. It is a way for members of the crypto currency community to use their skills helping others who need something quick, cheap, easy, and of high quality. Our no bullshit policy will weed out the bad apples for safe transactions. You deposit your coin of choice, change to DigiDollars, and purchase anything listed What are DigiDollars? DigiDollars – § – is the digital version of $1 USD. A method of payment worth its weight in both fiat and crypto currency without being either one, yet both at the same time. Buyers will enjoy the ease of a merged payment method using a coin of their choosing, automatically converted to § right here. No need to put in a buy order and wait, here it’s all instant! Sellers who are intrigued by Bitcoin and the digital currency movement are now able to break into the community without the need for large, specialized mining computers. Let us convert your skills into Spots, Copper Bars, Tickets, or Bitcoins today. The §5 you earn today could be worth double that tomorrow. Join the fast paced journey that is crypto currencies In one place you can now buy and sell your services to buyers from around the world 24 hours a day 365 days a year;let us help you get the exposure you have always desired More information: https://bitcointalk.org/index.php?topic=318898.0 http://www.WorkForCrypto.com
Dozens of local *coins pop up these days. Even if the first ones are unsuccessful, there will be more and they will not go away. The following concept assumes that your motivation, in the case you want to create such a coin, is to actually help the people - not to get rich by yourself.
No premine: The problem with distributing coins is that it introduces a central authority that manages huge amounts of money. If you premine the coin, you assume that people trust you. Inverse, people have to trust you in order to use the coin. If the trust is broken the coin gets worthless and unusable. Bitcoin was designed to be trustless in every aspect. Premine perverts this ideas.
Voluntary extra mining: As an alternative there is the mining reward. In Bitcoin all the reward goes to the miner, but there are some altcoins (e.g. Devcoin, Freicoin) that take a portion of the reward and send it to some predefined addresses. These addresses are written into the code itself and can not be changed by the miners. It is like a tax you pay automatically. Now that would require trust too. So additionally the miners should be able to choose to pay the tax either to the central address or to an unspendable address. This way miners can express their thrust to the central authority without any personal looses or gains. If the distribution of the collected taxes is not transparent or does not happen at all, they can remove their support without damaging the currency itself.
Constant distribution: Because mining happens all the time it provides a steady supply of coins for the central addresses. Opposed to the premine it is possible to distribute the coins on a regular basis and therefor create something like a basic income. When you look at premined local coins and imagine how they will turn out in some years, you will see that some time after the "airdrop" is over they will not differ in any form from the original coin they where forked from. But with a constant supply the coin stays connected to the region it was designed for.
Merged mining: As we have seen with Auroracoin it easily can happen that small coin suffers from a 51% attack. As a local currency is planed for a small region they will always be in the group of small coins. Miners of the larger, international coins always are able to attack those. Merged mining solves those problems very elegant.
Cooperate: At the moment all the local coins do their own thing and go different ways. The ideas detailed above will require some more work that just cloning a coin. It would be best if people join effort to create an easy forkable coin that works the proposed way and then everyone clones their own local coin from this one and merged mine each other.
edit: I can not change the title any more. Of course I mean "right way".
Thoughts on merged mining? (Mining 2 or more coins at the same time)
PoW is intrinsically broken/flawed. We all signed up for it, but I am personally not really that worried. Any new algorithm that relies on PoW is just delaying the inevitable. ASICs are a greater threat than GPU was to CPU in terms of centralization, but if we survive it, we will be much much better for it. How much of a supportive community do we want to be? Will we allow present and future altcoins to use Dogecoin as the parent blockchain and their blockchain is auxiliary? We can't stop them, but it's nice to be inclusive. This is merged mining. You mine 2 or more coins (Namecoin, Ixcoin, Devcoin, I0coin and Groupcoin), at the same time, with one miner. Bitcoin does this all day. Here is a discussion about it for scrypt coins: https://litecointalk.org/index.php?topic=15666.0 At a merged mining scrypt pool that mines Dogecoin, if you had 1250kh/s it would look like this: Parent Blockchain - DogeCoin: You are mining it at 1250Khash/s Auxillary Blockchains: PesetaCoin: you are mining it at full speed, 1250Khash/s UnitedScryptCoin: you are mining it at full speed, 1250Khash/s OrgCoin: you are mining it at full speed, 1250Khash/s HunterCoin: you are mining it at full speed, 1250Khash/s More pools like this would be nice. Is anyone working on a Dogecoin specific one? I would like to think we are the type of community to support this. This could only make us stronger. It's just one of many possible ways to improve our network security.
So, I've been merge mining Devcoin and Namecoin alongside Bitcoin forever... but I haven't seen or heard any news or posts about Devcoin over the past year. There hasn't been any commit's to their Github repo in a year either. I see it's still available for trading on Cryptsy but at low volume. So what's the deal? Is it dead? Any sense in still merge mining it?
Bitcoin mining made really easy/BFGminer quick start guide
There is 2 parts to this If i am missing somthing of if you want to add to this then please tell ms so i can make the changes. All is one and one is all. Infomation wants to be free, so dont be a dick help me make this better for all. Oh one more thing before we start I don't give a rats ass about up votes or down votes or square votes for this matter, I made this to help anyone who is stuck, if you don't like it then scram!(Its not like im forcing you to read this)...Or i am i ... So if you new or experienced bitcoin miner you should know that shit ain't free. The reason for this is the fact that electric isn't free.(Oh the fun days we would have if it was) When mining there is always going to be a cost, like how to pay for the Hardware, and the power and the maintenance and something that everyone forgets, The time it can take to set up the hardware and the scripts to miner. I chose to do a side project on this and got my own Asic miner USB Block eruptor that mines at 336mhs. It took me about 6 hours to write a working batch file. So show i wanted to show it to you all because it is a pain in the ass. BFGMINER PART So If your using "ASICMiner Block Erupter USB 333-336MH/s Sapphire Miner" You have found the right page You will need install the drivers here is the link = These drivers may be downloaded from: http://www.silabs.com/products/mcu/Pages/USBtoUARTBridgeVCPDrivers.aspx So this is what i use BFGMINER.exe Verson 3.2.1 So i made a batch file With this in it.(If you need help making this then please tell me.I don't mind helping.) C:\Users\Admin\Desktop\bfgminer-3.2.1-win64\bfgminer-3.2.1-win64\bfgminer.exe -o stratum+tcp://uk1.ghash.io:3333 -u YOURNAMEHER.worker1 -p YOURPASSWORD --disable-gpu -S all -o stratum+tcp://uk1.ghash.io:3333 This is my mining pool -S all will find all divices -disable-gpu because i don't want it to mine on my GPU. Make this the location of you BFG miner C:\Users\Admin\Desktop\bfgminer-3.2.1-win64\bfgminer-3.2.1-win64\bfgminer.exe -u YOURNAMEHER.worker1 This is your username and workername. -p YOURPASSWORD This is your password So from all of this it worked i have basically pieced together everything that i found to make the batch file that will start mining Woot Woot Empty Space Bitcoin mining made really easy PART How to start * Sign up at Cex.io if you don't already have an account. Then you can buy GH/S of mining speed. From Ebay Just type in Cex.io in ebay and you will find it all. READ ALL THE POSTS CAREFULLY. People can and will be dicks and try to trick you like saying 10000 kh/s of mining power, People that is 10 mb/s. Aka nothing When you get a voucher code You will immediately start mining Bitcoins. You don't have to worry about setting anything up, electricity, power outages, or bad hardware. The Benefits *No technical knowledge required. *No hardware to maintain. *No software to configure. *No electricity cost. *If there server gose down they will bous your speed of the miner to make up for the down time(that is really cool, i only had this happen once......The went down for about 13 hours and i normale was mining at 2gbs but the bumped me up to 6 gbs for a few hours to make up for the down time... *You can buy gh/s witht the bitcoins you mine. *Supports Merged mining.This means it Mines Bitcoin, Namecoin, Devcoin, and IXcoin at the same time! The Disadvantages *you cant buy gh/z with money, they will only accept bitcoins *If you like to physical hold the miner then this isnt for you.(Hey i do both so its the best of both worlds)
06-17 00:12 - 'This is my understanding of what you are proposing (correct me if I'm wrong): / The idea is to have "adoption-first" group (i.e. big blockers) and "decentralization-first" (i.e. Segwit supporters) group agree to turn the exi...' by /u/baltakatei removed from /r/Bitcoin within 86-96min
''' This is my understanding of what you are proposing (correct me if I'm wrong): The idea is to have "adoption-first" group (i.e. big blockers) and "decentralization-first" (i.e. Segwit supporters) group agree to turn the existing single blockchain into two parallel blockchains but without bitcoin token duplication. Using the drivechain idea, the "adoption-first" group would specify a split date upon which they would send their bitcoins to an exit address on Chain A and then only spend bitcoins on Chain B. For the "decentralization-first" group, they may continue to use bitcoin as before. At a later date,Prior to the split date drivechain-compatibility couldwould be added by consensus agreement by Chain A nodes so that members of the "adoption-first" group could release their bitcoins onto Chain A again. Now, the "adoption-first" group can deploy straightforward blocksize increases they would like on Chain B to accelerate adoption with users immediately and possibly never decide to reunite with Chain A again. Likewise, the "decentralization-first" group can continue deploying SegWit, Schnorr signatures, Lightning Network, and other decentralization-friendly optimizations onto Chain A. Big blocker advocates can be encouraged to join Chain B. At a later date, developers for Chain A can add drivechain support so that Chain B users can unlock their bitcoins on Chain A, if they so choose. I'm curious to hear people's ideas on how such a sidechain arrangement could be made an attractive fall-back plan for the "adoption-first" group, especially given the relative simplicity of permitting bitcoin tokens to be duplicated on two blockchains after a hard fork (no need for an exit or reverse migration plan, which is what drivechain seems to facilitate). This is a snippet of [an article]1 about drivechain that I read before I tried to put this summary together:
The gist of it is that to send bitcoins to a sidechain, it's as simple as sending your coins to a particular address, with no added changes of any kind to the bitcoin code itself. Meanwhile, releasing your coins later is harder, and it will take a soft-fork of the bitcoin blockchain. Participating miners will need to download new Bitcoin clients that support this function, enabling the release of these bitcoins. The great news is that no hard-fork is needed, which has a lot of developers relieved. If sidechains are properly implemented, there should be no need for another hard fork, and the associated risks, all forking in the future could be done on sidechains. However, the bad news is that there is an increased possibility for sabotage and perhaps theft. Groups of miners working together can 51% attack a sidechain that they mine, in order to steal any bitcoins that are locked into it. This would, however, only hurt the value of coins on that sidechain, not the original bitcoins. While this is a genuine concern, it is one that Sztorc sees as very close to the same problem bitcoin itself already has, and he claims to have figured out how to minimize the threat, through a process where miners vote to keep things honest. The miners themselves would not have to manually vote, but they would have to merge-mine the sidechain that they can vote on. “If they merge mine, it can all be 100% automated,” Sztorc recently said on Reddit. This means that there aren’t many blockchains that would be compatible with Drivechain's implementation, at least not yet. Scrypt-based altcoins, including Litecoin and Doge, are not compatible since miners of bitcoin can only merge-mine SHA 256 blockchains, like Namecoin, Ixcoin, and Devcoin. This may mean that all sidechains in the future will be brand-new chains, custom created from scratch for the purpose. While sending bitcoins to the sidechain has never been a problem, releasing the bitcoins into the hands of a new owner has been a constant thorn in the side of this whole concept. Drivechain's solution is complex, but far more complete than the Blockstream solution was. Sztorc proposes that whenever you want to change your sidechain coins back to bitcoins again, you send a “withdrawal transaction” (WT) from the alternative chain to a listening address, which destroys the sidechained coins, and specifies the bitcoin destination address. Drivechain Unfortunately, this release process is far from instant, because at this point you have to wait for it to be bundled with other WTs, and wait for the end of a minimum three-day period. This delay could be as much as two weeks, and is designed to give everyone involved the opportunity to ensure that the same WT is in both the Bitcoin blockchain and the sidechain. If the two blockchains disagree, everyone has plenty of time to contact each other, figure out what is going on, and redo the process until they get it right. Drivechain2 The process is obviously more complicated than this, but in simple terms; if there are problems, then a manual solution is available. If there are no problems, then everything proceeds automatically after the minimum three-day wait. There is still quite a lot of coding and experimenting left to do, but the outcome looks sounds promising. Assuming that Sztorc and his team successfully finish, major problems with Bitcoin could be very quickly solved. BitcoinXT, for instance, could be run as an altcoin beside the Bitcoin core client that is mined now, and we could assess which of the proposals is better for bitcoin by watching them. Better yet, a sidechain with a very short interval between blocks could be created. This could provide an exponential increase in the number of transactions per second, creating Visa-like processing capabilities, which would of course greatly increase investor confidence in bitcoin overall. What does this mean for the value of altcoins in the future? It is conceivable that their market caps will all move into bitcoin over time. According to Sztorc, altcoins would eventually become obsolete, at least as far as their price goes. Regardless of the value of any future altcoins, the value of bitcoin could grow substantially once sidechains become a reality, due to all of the added utility. This in turn attracts more miners and further secures the bitcoin blockchain, adding even more utility. A very fortunate positive feedback loop could be started.
edit: integrated luke-jr's reply about integrating drivechain support on Chain A before the split:
We'd need drivechains on Chain A from the start. Otherwise the peg-out to Chain B would literally be an anyone-can-spend on Chain A (or at least a trusted-third-party-can-spend). Otherwise, that sounds about right.
Projects Using Merged Mining. Surprisingly, there aren’t many projects that have implemented merged mining. Here are a few of the more notable ones that have: Namecoin. Namecoin was the first cryptocurrency to fork from Bitcoin as well as the first to have merged mining. Because both use the SHA-256 hash, the developers chose to latch onto ... Merge Mining, also known as mergemining.com, is a merge mining pool that allows mining bitcoins BTC - Bitcoin, CRW - Crowncoin, DVC - Devcoin, HUC - Huntercoin, I0C - I0Coin, XMY/MYR - Myriad, NMC - Namecoin, SYS - Syscoin, UNO - Unobtainium, TRC - Terracoin, ARG - Argentum Contents. 1 Reward distribution; 2 Extra Features; 3 See Also; 4 References; Reward distribution. 1% fee with Double ... That hope failed. Shortly after merged mining started, which was necessary to give devcoin security and therefore value, in January 2012 the devcoin market capitalization averaged around 0.00000025 BTC/DVC * 1,200,000,000 DVC = 300 BTC in January 2012. Since pure charity didn't work, devcoin was changed to a beneficial organization, similar in concept to a benefit corporation. Devcoin would ... The RSK sidechain can be merged-mined with Bitcoin, meaning that machines mining Bitcoin don’t have to use any additional power or resources to participate in securing and maintaining the RSK network. Miners are rewarded with transaction fees from the RSK network, so it is logical and profitable that every single Bitcoin miner would merge-mine RSK to get extra money. Due to this, the ... Merged mined with Bitcoin; 50,000 coins per block, 90% goes to funding developers. Coin supply is constant. Earnings and Payouts . Receiver files are used to load the addresses for payment into the mining operation. This is the first use of receiver files in cryptocurrency and allows the distribution of funds to Devcoin recipients.
Alternative Cryptocurrencies - full list of all Bitcoins alternative out there [EN]
Casual deep dive into merge mining with an actual example of a merge mined Bitcoin block (612839) vs Elastos block (553991) Merged Mining. Mine Monero and FantomCoin At The Same Time Automatically With MINERGATE There are a lot of people that don't seem to be aware that you can merge mine Monero with Fantomcoin. Learn More: https://www.blockchaintrainingacademy.com Buy Bitcoin: https://www.coinbase.com/join/52d4a0564a612752dd000032 Store Bitcoin: http://NanosWallet.c... Live Bitcoin Trading With Crypto Trading Robot DeriBot on Deribit DeriBot Backup 828 watching Live now Mining Pool Shares, Difficulty and Luck Explained - Duration: 10:38. With merged-mining, there is always a ‘parent’ chain and an ‘auxiliary’ chain. In this case, the Bitcoin blockchain acts as the parent chain, while Elastos is considered the auxiliary ...