Spreadcoin

cryptoyogi said:
After seeing this thread here, I took the time to read the Spreadcoin thread and evaluate their devs code. It is very clean, intelligent, advanced code. He is certainly legit.

I get the feeling that they're going to head in a direction other than anonymity with masternodes which has me curious. As I already have a lot of DRK masternodes, I'm buying some SPR as I figure at this price, I might as well get additional use out of all these VPS.

It may crash and burn but at this point I figure it's a low risk high potential reward situation.
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I have no doubt that the dev is legit. Its the lack of public vision that worries me.

I am also not convinced that their mining model will work although time will tell and that can also be changed with a hardfork.
 
Screen Shot 2014-12-30 at 11.37.10.png
 
Can't have sent too many coins into masternodes...there are only 1,700 masternodes! Obviously these people (or exchanges etc) don't have a need for masternode income ;)
 
obviously ;) they are "camosouls best word to describe people" not to do that :grin:
 
acidburn said:
They have MN now?
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I was talking about Darkcoin bagholders not setting up many masternodes.

Spreadcoin intend to deploy masternodes in about a month or so I think. 1000SPR (0.4BTC) is being touted as the likely collateral.
 
I'm very interested to see how their mining structure works out. By banning pools I think they have actually massively centralised mining by making it only viable for people with large farms to "solo mine". What point is there me pointing 2Mh at Spreadcoin if I can just go to an exchange and buy a few thousand for 1BTC?

In any case, I look forward to seeing a graphical representation of their mining distribution. They are conducting an interesting experiment.
 
In flare's words:

What i got from the Spreadcoin thread is that the developer originally (by accident) changed the layout of the blocks, by using 64bit timestamps, which caused all X11 miners not to work anymore. It must have been this moment when he realized that this flaw could be a potential unique selling point of the coin: Not to be mineable in pools. So instead of fixing the coin, he decided to alter the block layout again, so that the address of the miner is part of the block, which means miners can cheat the pools, as the block is getting paid to the miner and not to the pool.
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I guess this is how they've ended up with a weird SpreadX11 algo.
 
cryptoyogi said:
Anyone have thoughts on this?

https://bitcointalk.org/index.php?topic=421615.msg10076778#msg10076778
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IMHO this opens the possibility that three letter agencies (or any other party with large stack) can disable any masternode not run by them.

Darkcoin masternode network was designed with the opposite in mind: Anyone with 1000DRK can run a masternode, which prevents

a) sybil attacks
b) network takeover

From economical point of view the SPR approach might be charming, but DRK was not designed to be a financial asset, but anonymous eCash.
 
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flare said:
IMHO this opens the possibility that three letter agencies (or any other party with large stack) can disable any masternode not run by them.

Darkcoin masternode network was designed with the opposite in mind: Anyone with 1000DRK can run a masternode, which prevents

a) sybil attacks
b) network takeover

From economical point of view the SPR approach might be charming, but DRK was not designed to be a financial asset, but anonymous eCash.
Click to expand...

.... and that is why I am here .... tx for the translations flare ...>>
 
Not sure the extra '.5' of algo is going to cut it, my 'Amplifier' already goes upto 11 and thats plenty loud enough already.
Seriously though, you need large exchanges and user adoption for a coin to work and the way I see it,direct fiat sites such as bittylicious are not going to keep adding new coins forever, they are going to decide on maybe 10 or 20 and then say enough is enough and we will only support the current coins (although cryptsy is obvious exception to this rule of thumb).
Generally though it will get harder and harder to get on a decent exchange as more coins mean more maintenance, imagine having to update cryptsy's wallets everyday lol, one wonders what would be the next coin to be added to bitfinex for example, if any..
 
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