Cogburn

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Cogburn last won the day on February 20 2014

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About Cogburn

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  1. A great point brought up a few pages ago is "Why can't UNO just be replaced with something else?" The reason is distribution. UNO is a rare crypto that has enjoyed over a year of fully decentralized distribution, including unfortunate incidents such as exchange thefts. Such distribution cannot be duplicated except over time and it is for this reason UNO retains a unique place in the universe of altcoins, even those that attempt to duplicate its rarity.
  2. This is not to be understated. I have an agreement from a pool operator to run a BTC/UNO/NMC/DVC mining pool. For existing UNO miners this is a windfall of profits. For existing BTC miners, this is simply more bang for the buck. UNO block rewards are to such a point now that even daily dumps by thousands of miners would do little else but volume and downward pressure for an exclusive crypto that people want to own.
  3. An abuse of inflation caused those problems, however currencies inflate. Sea shell currencies, which are the best historical economic analog to bitcoin as a currency, are inflationary which is what made them successful. That governments fail to implement proper and responsible economic policy is not my problem. We, as a decentralized autonomous organization, are said to be superior in such regard. This is simply that very experiment being born out. Furthermore, there are millions of economic transactions daily for which $230 BTC might work, but $1,000,000 BTC will not. Don't think bitcoin could reach $1,000,000? JP Morgan Chase and Wedbush Securities both think so and have state such in official publications on the matter. Looking forward, my jokes about being the new 1% because I own UNO aren't quite so far off.
  4. Please note that all of these answers are from the perspective of UNO. The answers may not apply to other block chains. 1) Can you show an example of a coin where sidechains have been successfully used before? (in the wild) Is there any evidence that shows sidechains actually are viable and useful longterm? Sidechains were conceived to allow for value to transfer between block chains. The benefit to UNO is clear: a value transfer between BTC and UNO makes for the ability to UNO to be used not only as a store of wealth, but as a steady form of inflation against BTC. Like it or not, inflation is a necessary component of any stable currency. That's just simple economic fact since the dawn of currency, itself. 2) What are the usecases of sidechains? Who is the user? What value do they provide? The value they provide is to allow for value transfer between block chains without centralized exchanges. The users are... everyone. 3) What can a sidechain do, that an altcoin/independant chain can't? Sidechains are merge mined against BTC. As only so many coins can be merge mined at once, a new market force takes effect as sidechains must compete for miners. Network security is not a guarantee for a coin that sidechains, however UNO has a unique opportunity to add real mining returns for pools that adopt merge mining. 4) What benefits do sidechains provide over usecase specific altcoins which would be merge mined with the uno chain and thus not require a hardfork and be less experimental aswell as a guarantee for more hashpower and additionally NOT bloating the UNO chain? Wouldn't it make more sense to just launch a usecase specific alt with auxpow for uno implemented from the start? Your question is based on far too many hypotheticals to be answered at this time. There's simply no evidence relating to blockchain bloat beyond a normal transaction. Sidechains do not require a hard fork. Sidechains are OP codes. Network consensus still applies to Bitcoin and UNO, alike. 5) What are your estimate on space use in the UNO chain? What data exactly is stored in the chain by sidechains? Will blocks be larger? By how much? UNO is roughly 66% faster than Bitcoin, however has only a fraction of the transactions. The best thing about the code base of UNO is that it can easily be upgraded to the latest bitcoin codebase at any time. There were debates within the Bitcoin core developers that have only now been resolved (like 80 byte length OP_RETURN) that made merging forward to the latest changes not a wise idea. This is also now back on the table as cooler heads have prevailed. 6) Are you planning on deploying the sidechains in one and the same fork with the merged mining with btc? No. 7) What happens when BTC runs into problems like splitting into two chains with the Gavinproposal which has no consensus? Will we merge mine against the original Bitcoin chain (Mpcoin) or against the Gavincoin chain? Will Uno still be able to be mined independant in case mining for bitcoin collapses for one reason or another (bitcoin doomsday scenario)? Great question. If Bitcoin Doomsday happens, sidechains become sporadic and mining pools merge mining UNO fork towards sidechains. From a political perspective: we are making an economic decision for our ecosystem by which we are adding our vote to bitcoin conensus on behalf of Blockstream. 8) How can you determine there is sufficient consensus from miners for the hardfork as currently 95% of the blocks on the network come from unknown sources? That's why we're having the public conversations. 9) Are sidechains secure against abuse from malicious parties? (risk of spam/bloat?) How? That's too general a question to answer and is the reason for the annoucned beta test in a few months. 10) Would you agree on this statement: "increased complexity is a security issue"? , what would you respond to that in regards of sidechains? Sidechains are OP codes. All arguments in that regard to network security apply. 11) Why would Uno need sidechains, when sidechains likely become a standard feature for every altcoin out there in case they aren't fatally flawed and actually longterm viable? (meaning: after it being everywhere what's so special about it then?, in let's say a year or two from now) See the answers to questions #1 and #5. 12) Why would we want to pioneer this area with unobtanium when the coin is known to be a conservative approach? (security has high priority, we don't like expermimental stuff so much because we like marketcap more / store of wealth is not to be messed with / investors confidence has high priority) I dunno if that's an accurate estimation of the the community. I think the community appreciates that UNO is a store of value and sidechains do not change that in any way. It, in fact, makes it permanent. 13) Are you aware of the 'less is more', 'keep it simple' and 'money is not a feature' kind of idea the community had until now? How does this harmonize with being a pioneer with untested sidechains tech? Again, a store of value is not money. There is nothing inconsistent with this implementation. 14) What happens if the sidechain has an exploit/isn't working how it should/mess up? Would we need to hardfork again? No. There's a significant financial investment in sidechains. Quite frankly... it will be a problem for a lot of highly paid people and I am quite sure they would resolve any such failure quite quickly. 15) Have sidechains been implemented in Diraq? Why would you implement a sidechain on a higher marketcap coin first? This is an UNO thread. The reason for sidechaining UNO is obvious: the market cap goes through the roof and continues to go up for the lifetime of bitcoin and its ecosystem. The bitcoin ecosystem has had over $500 million dollars of venture capital investment. I think this is the safest bet for the long term survival and thriving of Unobtainum. 16) Some people say 'implementing sidechains in bitcoin will likely end bitcoin'. What do you respond to them? That's equally as ridiculous as saying that bitcoin will end fiat because governments will no longer exist. 17) Sidechains bring the risk of a sidechain overtaking the main chain. Why would we want that? UNO is the single announced sidechain best positioned to do that. I'm quite okay with it. How about you? 18) How do get miners rewarded for mining sidechains? Will sidechains attract more hashrate? Why/How? Merged mining provide added rewards per block chain mined. 19) The consensus in the crypto community seems to be sidechains aren't safe enough to store money on them. Should we not wait until developement of SC has matured a bit more? What speaks against it? The consensus of the community can be incorrect in regard to technical matters. Quite frankly, I have more hands-on, practical experience launching and maintaining live block chains than most who are simply philosophizing about theory. I think it will be just fine. 20) How can we be sure SC don't provide additional attack vectors for malicious parties? Beacuse I am going to attack the Blockstream beta test of sidechains on bitcoin. 21) What's your take on relaunching DUO or a similar coin, auxpow it with UNO, give UNO holders according to snapshot coins at launch and implementing sidechains there? (advantages would be: no hardfork, good testground, no lenghty discussions, creation of additional value, more hashrate for UNO, more demand for UNO prior launch because of snapshot) We can add sidechains to UNO after they are added to Bitcoin. I think it's a great idea and I'd like to be a part of it. 22) Have you talked to Blazr2 about sidechains in UNO? What does he say? Blazr2 comes and goes as he pleases. We have always had a good relationship. We have real life friends in common. He has his own opinions, but if he chooses not to voice them then that is his opinion.
  5. I don't control trading pairs because I don't have an exchange. Well... I didn't. I'm the co-founder of altmarket.com and we're currently in closed beta. When we go live we've discussed a UNO/XDQ pair for AltMarket. The UNO/NAUT trading pair was a suggestion I made to add extra liquidity and to experiment with arbitrage in the altmarket in general. I've no idea what you mean by "dying hash". UNO has an inflation mode which adds a slight increase to the total over time. The implementation of sidechains guarantees the value for continued mining for decades to come. At current prices, speculation against this very event has caused a significant increase in hashrate. Furthermore, the decline in price in bitcoin did not overly impact the network hashrate. Allowing for merged mining with all of these factors combined is exactly what keeps UNO a coin worth mining now and in the future. http://www.coinwarz.com/difficulty-charts/unobtanium-difficulty-chart
  6. First off... thanks to everyone for coming to CCT. I love this forum. Second, thanks to everyone for continuing to support one of the oldest, strongest, and most stable coins ever launched, Unobtanium. I've read through the comments and there's some great discussion. We need not all agree, but the discussions must happen. It is those discussions that create the community to which we all belong. Let's talk about merged mining for a bit before sidechains. There's been several attempts to fork the UNO network since it was launched but none have succeeded. This was before we forked to use KGW, making such a scenario even less likely as time goes on. UNO remains one of the most profitable altcoins to mine and merged mining against bitcoin, namecoin, devcoin, and ixcoin raises the profitability of mining to levels that have never been seen before. Another benefit to merged mining is distribution. UNO is a highly concentrated currency with many 1% holders. https://chainz.cryptoid.info/uno/#!rich With less than 60,000 UNO remaining to be mined, there's a definite need for increased distribution so that the coin remains liquid enough to be useful not only now but in the years to come. That being said, the most important aspect of sidechains for UNO is the two-way peg. UNO is a perfect 1:84 scale to BTC in rarity. This means that when all 21,000,000 BTC are mined and all 250,000 UNO are mined, 1 UNO is 84 times as rare as 1 BTC. UNO will be mined out in under the next 18 months. At that point there will be roughly 14.5 million BTC, for a 58BTC to 1UNO ratio. This ratio will continue to increase to 84BTC until the point at which all BTC are mined out and the final total of 84:1 is achieved. I own a lot of UNO. I wouldn't mind a 58BTC price when the next time the bitcoin price spikes. I don't think you do, either. I look forward to your responses.
  7. I have thanked you for your helped and blocked you on Twitter a week ago. I have no idea what you are talking about, nor have I for quite some time. Please do not troll me here with whatever axe it is you have to grind. Such behavior being what it is, the feeling in regard to parting ways is definitely mutual. Good luck.
  8. I need to correct something I stated incorrectly in the ANN thread. The price will not be "fixed"... a minimum price will be established. You cannot fix the max price of anything. That's economically impossible. You can, however, provided a minimum backing so even in a down market the coin has a value.
  9. What is Dirac? A Revolution In Cryptocurrency and Finance Dirac is intented not simply as a currency, but as a stable financial instrument capable of carrying vast amounts of wealth in a safe, secure, and in a manner more economically efficient than Bitcoin. Free-market managed economic stability is a concept introduced by NautilusCoin(http://www.blakecoin.org](http://www.blakecoin.org) Official Blake Ecosystem Merged Mining Pool * US East: http://eu3.blakecoin.com * GPU Mining: Yes. * FPGA Mining: Yes. * ASIC Mining : __*NO*__ Blake-256 optimization thread on CUDAMiners * [http://allcrypt.com] What Is Merged Mining? * http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-work The Science of the Blake Advantage Over Bitcoin * https://131002.net/blake/blake.pdf The Blake Ecosystem What is Blakecoin? Blakecoin is an experimental new digital currency that enables instant payments to anyone, anywhere in the world. Blakecoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing of coins are carried out collectively by the network. What is Photon? A clone of Blakecoin with a few changes. * The standard block award of Photon is 32,768 BUT as the block chain grows the award will increase. The amount it increases is directly related to the current difficulty and height of the blockchain. Miners will get 32,768 coins plus the square root of blockchain height multiplied by the current difficulty. * Still as Photon's are plentiful in the universe the max money is set to 90,000,000,000. That is 90 Billion Photons. * Difficulty retargets every 20 blocks with a target of a new block to be produced every 3 minutes. * Up to block 3500 the max adjustment is 15% up each retarget. * After block 3500 the max adjustment is 3% up each retarget. What is BlakeBitcoin? --------------------- A Clone of Bitcoin same reward structure Starting with 50 coins per block and a total of 21 million coins The Block target time is 1/4 of Bitcoin's to account for extra hashing speed of Blake-256 The difficulty retarget at 8064 blocks and the reward halving every 210,000 blocks The difficulty adjustment is also same as per Bitcoin License Dirac is released under the terms of the MIT license. See `COPYING` for more information or see http://opensource.org/licenses/MIT. BlakeBitcoin is released under the terms of the MIT license. See `COPYING` for more information or see http://opensource.org/licenses/MIT. Photon is released under the terms of the MIT license. See `COPYING` for more information or see http://opensource.org/licenses/MIT. Blakecoin is released under the terms of the MIT license. See `COPYING` for more information or see http://opensource.org/licenses/MIT. Notes Forked from Bitcoin reference wallet 0.8.6 and BlakeBitcoin BlakeBitcoin is a cryptocurrency designed to use the Blake 256 algorithm cloned from BlakeBitcoin. Blake-256(optimized) faster than scrypt and faster than sha256 in C (asm is still faster for sha256d) The algorithm was written as a candidate for sha3, Based on round one candidate code from the sphlib 2.1 and reduced the compression function to 8. Ubuntu 12.04 dependancies that are used on the Linux build machine: git-core build-essential libssl-dev libboost-all-dev libdb5.1-dev libdb5.1++-dev libgtk2.0-dev libminiupnpc-dev qt4-qmake mingw32 synaptic qt-sdk qt4-dev-tools libqt4-dev libqt4-core libqt4-gui libdb++-dev Tweaks Removed some of the double hashing from the wallet as it is wasteful on compute, No changes to the ecdsa public/private function as that has proven to be secure so far on bitcoin.
  10. DIRAC XDQ "As Dirac was to Einstein, so now Dirac is to Bitcoin." Dirac is intented not simply as a currency, but as a stable financial instrument capable of carrying vast amounts of wealth in a safe, secure, and in a manner more economically efficient than Bitcoin. Free-market managed economic stability is a concept introduced by NautilusCoin and then enhanced by Dirac. Dirac will be traded in an exclusive currency pairing against NautilusCoin (NAUT market) on AllCrypt. Between 90 and 100 days after launch, the market will be gradually purchased at fair market value for 25,000NAUT over a period of 30 days, backing the currency network and establishing a minimum price at that moment at roughly 0.07NAUT. Dirac has a specially modified codebase which allows for a process of currency cloning that is simpler than ever before. Thousands of clones can now be created and each blockchain comes pre-built with merged mining. https://www.youtube.com/watch?v=lkQn4rqmxr4 Website None Available. Block Explorer / Crawler http://diracexplorer.org/chain/Dirac Contact http://twitter.com/BryceWeiner SPECIFICATIONS Blake-256 Algo ISO 4217 Trading Symbol : XDQ Monetary Symbol : Ã Target block time : 180 seconds Difficulty retarget : 2,016 blocks (roughly every 4 days) Maximum Coins: Ã2,272,800 BLOCK REWARDS 0 - 43,200 = 8 XDQ 43,201 - 744,000 = 1.25 XDQ 744,001 - 1,448,000 = .75 XDQ 1,448,001 - 2,145,600 = .5 XDQ 2,145,601 - 2,846,400 = .25 XDQ 2,846,401+ (inflation mode) = .01 XDQ DOWNLOADS Windows http://blakecoin.org/Dirac-0.8.9.1-WIN.7z MacOS https://www.dropbox.com/s/l9jfckczzk0rrqe/Dirac-Qt.dmg Linux http://blakecoin.org/Dirac-0.8.9.1-LIN.7z Source Code https://github.com/bryceweiner/Dirac Sample dirac.conf rpcuser=username rpcpassword=password rpcallowip=127.0.0.1 rpcport=74532 port=34555 gen=0 server=1 addnode=146.185.135.24 addnode=162.243.14.130 addnode=188.226.213.85 addnode=107.170.140.27 MINERS cgminer for Blakecoin http://blakecoin.org/cgminer-blake256.7z cgminer for Blakecoin source code http://blakecoin.org/cgminer-blake256-src.7z PORTS RPC Port: 74532 P2P Port: 34555 POOLS * US East: http://ny2.blakecoin.com/ * US West: http://la1.blakecoin.com/ * Europe: http://eu3.blakecoin.com EXCHANGES http://allcrypt.com/ https://bittrex.com/Market/?MarketName=BTC-XDQ SOCIAL Twitter http://twitter.com/BryceWeiner Facebook None Available. SERVICES / OTHER None Available.