SimTalk

Simcoin => General => Topic started by: NxtChg on April 08, 2014, 09:58:45 am

Title: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 08, 2014, 09:58:45 am
(https://simcoin.info/img/bender.jpg)

Looking at the second generation cryptocurrencies, they seem to be locked in a race to develop more and more advanced and complicated features, like distributed exchange, Turing-complete scripts, etc., while we haven't mastered our core feature yet: transactions.

That's why I want to build upon ideas from Bitcoin, Ripple and NXT and create a simple coin with the goal of not adding more and more confusing features, but rather focusing on three S'es:

(https://simcoin.info/img/pyramid.png)

It will not be a clone of anything, but written completely from scratch.

("simcoin" is a temporary name and can be re-branded later).

----

As some of you know, I was the most vocal in NXT community about lack of checksums and helped develop Reed-Solomon protected addresses, which only recently been implemented in NXT. Well, in Simcoin they will be there from the start and will be shorter - 12 characters instead of 17 (while providing the same level of protection):

JOHN-DEAN-3J4S
or
FLOWERS-563KT

Because addresses are so short, there will be a built-in vanity generator in the client from the start.

There will be paranoid checksums on all levels of the system. There will be built-in strong passphrase generator and key-strengthening algorithm, as well as the ability to save passphrase as an encrypted wallet.

There will be no "darkNXT", i.e. no ability to send money to an arbitrary address and lose it. There will be no genesis account where you can send money to destroy it. There will be no reduced security for new addresses as in NXT.

There will be some form of account control to prevent big losses in case the passphrase is compromised and also to simulate multisig transactions. There will be assistance for cold wallets in the client from the start too.

For crypto, Ed25519 will be used, which is more logical choice compared to Curve25519 in NXT. Protection from 51% attack is done via PoS.

The server will be written in C++ with minimal dependencies and UDP as main network protocol. Database format will be as compact as possible to help with "blockchain bloat". From the start the transaction history can be arbitrary truncated or even turned off completely!

All clients will be "thin" clients, they won’t have to download the whole database and only cache what's relevant to you.

In NXT and Bitcoin the best way to handle customer deposits is to generate unique addresses for them. This increases the size of the database. In Simcoin transactions will be done similar to Ripple - with a short text field where you can put some special code to link this deposit to your account. Or you can register with your address as a username, which is possible because they are so short and mnemonic.

There will be ability to send messages, similar to NXT Arbitrary Messages, but it will be done right: there will be a type tag and all messages will be automatically and transparently encrypted. In fact, ALL traffic will be automatically encrypted to help with privacy, security and to make it harder for governments to filter our packets.

----

Since I've already developed an exchange (former NxtChg.com), I got this covered from the start. And there will be no trading fees.

There will be no mining, but instead all server owners will receive constant rewards for running their nodes.

I also will not repeat the same mistake BCNext did: he abandoned his creation to an idealistic vision of completely distributed and "headless" development. It was sad to see great ideas of NXT disintegrate like this. Instead, the source code will remain closed until my vision is implemented exactly as I planned it to be. I might be wrong in some decisions, but at least I will be coherent.

Transaction Speed

Transaction speed will be a priority. The goal is ambitious: to achieve <1 sec confirmation. Complete confirmation, no backsies. Either your transaction is confirmed and engraved in stone in less than 1 second, or it will be rejected and you will have to try it later.

I believe it is possible. Here's a network simulation video:

(https://simcoin.info/img/sim_video.png) (http://vimeo.com/91395446)

You can download the simulator (https://simcoin.info/simulator.zip) and play with various settings in the ini-file if you are Ok with an exe file.

IPO

The IPO is closed.

There will be total 1 billion simcoins.

We split it like this:

To participate, go here:

https://simcoin.info/ipo/

create an account and deposit your bitcoins. You will get your share, proportional to your stake relative to all other deposits. I.e., if only 2 people deposit, each 0.1 BTC, they will get 200 million each. If they deposit 0.2+0.1, they will get 267 and 133 million respectively.

All deposits are non-refundable because they will be used to cover development costs, so think carefully.

The end date for the IPO will not be announced to prevent last minute deposits. It will just end one day without any warning.

Launch Date

UNKNOWN.

So far I've committed one year of my life to this project. Two months have already passed.

Test Net release (early beta) will be, let's say, somewhere in the middle :)

Nobody knows, really. We'll see. Just keep an eye on the progress.

Progress

Most accurate progress will be on Trello: https://trello.com/b/gscZWNn8/main


Wiki: https://simcoin.info/wiki/Main_Page

Bounties: https://bitcointalk.org/index.php?topic=645679

Exchange: https://simxchg.com:555/

So, if you want to help create such a coin - join me. You will have to suffer my dictatorship for the course of initial development :) but once it's open source I will relinquish control to the community.

Do you have any suggestions or ideas? I'd love to hear them.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 08, 2014, 08:18:04 pm
Not to rain on your parade, but NXT TF will allow speeds like this as well.

Right. I'll believe it when I see it.

So far it looks like a very fragile and artificial construct (not to rain on your parade too :) )

Anyway, with block time = 1 minute, you cannot achieve 1 sec transactions. TPS is not equal to confirmation speed.


The Reed-Solomon solution already solved darkNXT, AM encryption is already exists, etc.

These are all afterthought patches. I want to take lessons learned from NXT and apply them to the design of the system.


The only claim I see noteworthy (at this time), is that every single client is a thin client? So there is no central ledger?

There are clients and there are nodes (servers). All clients are thin clients and they don't participate in supporting the network, thus lifting the O(n*n) burden and also freeing users from the need to download complete database.

It's similar to Ripple in this regard where a few powerful nodes serve all the clients. Except here anybody can run a server and it's not centralized.

So there will be like 200 or 1000 servers and they will handle all transactions and keep the ledger. And users will connect to them with thin clients.

I think BCNext vision was similar too and with web clients NXT will work the same way. It's inevitable, bitcoin's approach is not sustainable.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 09, 2014, 08:13:15 am
how to achieve <1 sec confirmation?

Well, first of all, you abandon the concept of blocks. It's a ridiculous Bitcoin atavism in a PoS currency. It limits you both in time and space, i.e. in the number of transactions that fit into one block.

This is also not good for fees. As the number of transactions grows, they now have to compete for the privilege to be included in the next block. Why create artificial scarcity?

I don't know why BCNext went this way when Ripple already existed and boldly abandoned it. It looks like a step backwards to me.

This architectural mistake leads to the need for Transparent Forging – a fragile and artificial construction where the network has to decide which node will forge the next block.


Simcoin will use something similar to Ripple's ledger consensus, but without all the bloat – trust lines, distributed exchange, arbitrary currencies and whatnot.

Whether I will be able to achieve it we will see in a month or two when Test Net becomes operational.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 09, 2014, 03:23:51 pm
Are you leaving Nxt??  :-\

I already left NXT community some time ago. One of the reason is that I was constantly arguing with people about how things should be done and that takes a lot of energy and puts a lot of stress on you. Here I will do things my own way right until release.

I've learned a lot from NXT and want to design a better system from scratch rather than patch an existing architecture.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 09, 2014, 04:33:15 pm
That's not the response I'm looking for, I'd rather you don't avoid a real answer and stop the winking smiley faces, lots of those in the stackcoin thread if you get what I'm saying. I asked my question in a polite manner and I expect a real answer.

There was no question in your post.

If the question is "why don't you use escrow?" then I've explained it 3 times already.

The short answer is: because I don't have to.
 

I am not sure what kind of answer you are looking for.

"Aye, captain, I will setup an escrow right away just because you told me to!"
Or:
"Duh, how can I scam people with escrow?"


Just don't send any money if you find the lack of escrow suspicious.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 09, 2014, 08:09:23 pm
I invested cause I think you are a smart & honest guy - don't disappoint us mate!

Thanks! I will try my best not to :)


No anomymity though in this  :-\

Anonymity is important and I will keep an eye on the zerocash guys, but in my opinion it should not be a default protocol, both for performance and transparency reasons.

"Privacy for individual, transparency for institutions." -- Assange


As for unique deposit addresses - they will still be possible, but I don't think that removing the comment field from transactions just to force services to generate them is worth it.

Comment field in transactions has other legitimate uses.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2014, 08:17:16 am
1) Will the whitepaper come out before or after the IPO ends? I hope before, so I can make an informed investment instead of simply speculating.

Not a full whitepaper, but I will setup a wiki soon and start filling it with technical info and ideas for people to comment.
So you still have time :)


2) What is the BTC used for?

Bounties, what else. We will need logo, branding, apps, tools, etc. I can't pay people with simcoins at this moment, many wouldn't accept them.

Plus initial server setup - hosting companies don't (yet :) ) accept simcoins either.


TF will enable instant transactions (<1 second confirms), but I am definitely interested if you have a working model right now.

I don't see how that is possible with block time = 1 minute.

Or you mean that other BCNext idea, about N/10 limit for transactions? Maybe it could work. But again, this is just a kludge.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2014, 12:21:20 pm
it'll be sha256 or scrypt? i cant see info. thx

Neither. It's a 100% PoS cryptocurrency, there will be no mining.


IMHO a built in anonymous, encrypted decentralized marketplace is the single most important thing a next gen cryptocurrency platform should include.

Sorry, I do not share this view. I think the most important feature is that it works, i.e. performs its core function as digital money.

Asset Exchange is a confusing, niche feature, only used by a minority of users. It's inferior in performance and simplicity to centralized services.

I am not saying it has no merit, but in my opinion it's hardly a priority.

We need a coin that works first.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2014, 01:06:46 pm
- Give a date now before which you definitely won't close the IPO? E.g. IPO runs at least until 10 May.

Sure: IPO will not be closed until April 20.

Commit to giving at least 7 days notice of closing the IPO (e.g. in a few weeks time, write "the IPO will close sometime between 7 and 14 days from now")

As soon as people know the deadline and/or see something working, they might decide to invest big and thus will get a huge share.

Would you prefer the current style of distribution where several top investors all have roughly the same 0.5 BTC investments and have about 10% share each or one guy owning 90%?

I thought about closing it after the Test Net (i.e. a working prototype with basic client) is operational, but now I think it will be better to close it right before the announcement.

Best strategy for you is probably to put a small amount now, then increase your deposit gradually as you see things develop.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2014, 02:32:16 pm
Well we definitely disagree then as people are screaming for decentralized exchanges so they no longer need to trust a third party web site.

There will be plenty of coins with distributed exchanges precisely because people think it will solve their problems.

So you don't have to worry, you can always use NXT or Etherium or eXo-coin...

Last thing I want is to be like everybody else.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 12, 2014, 08:51:54 am
How do you plan to solve the problem where people will spend SimCoins.

Well, that's our Holy Grail, isn't it? To get out of this niche into mainstream. It's a problem every coin, and the ecosystem in general, faces and tries to solve. I don't think it can be solved by a single guy inventing a magic silver bullet.

But I do believe that simplicity in itself is a major factor in wide adoption - I'll take JSON over XML on any day of the week.

Another thing: watching Mt.Gox in disbelief, as well as some other incidents, like the recent Poloniex fiasco where the guy didn't seem to know that he is supposed to use database transactions (!), reveal the astonishing carelessness in many developers here. Probably because most of them are just college students.

"Hey, I'll just type a bunch of code here and see what happens."

NO. We need to be serious and pay attention to what we do.

Bitcoin is obviously trying to be serious, but it's a big, dirty steam engine in the age of electricity.

So by making Simcoin simple to understand, simple to use and simple to integrate with, and by focusing on security and reliability, I believe I  can significantly improve our chances of mass adoption.

My goal is to make a better mousetrap. It will be up to the community to promote it further.

I just want to give you something better to work with :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2014, 08:43:02 pm
Are you going to try to "compete" with them and release before/around the same time frame or are you not worried about those 2 coins.

Absolutely not. I don't care about any other coin, to me they are all wrong.

I will release it:

(https://simcoin.info/img/dnf.jpg)

 ;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2014, 09:38:10 pm
Just make sure it doesn't end up like Duke Nukem Forever did. I'm in, and interested in where this coin is headed :D

Don't worry, I'm here to kick ass.

(https://simcoin.info/img/duke2.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 14, 2014, 08:10:58 am
What the hell? Yesterday it was 16 BTC, today I woke up and we have already beaten NXT with its 21 BTC?!

You, people, are way too gullible :)

I am going to move half into another wallet to decrease the risk of theft, don't freak out.


Why the TXID showed at IPO website is not the same with the blockchain?
My TXID: 4bb09c7d78c25371b99b7441bfa598c5b0086836dc20c7e22e20b8cbd8801c65
Can u confirm this?

Probably because blockchain.info forwards transactions from the address you deposited to.

Is this important? Is the correct amount displayed when you log in?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 14, 2014, 10:51:16 am
;D  It's the time to end this IPO,

So you would have more people to dump to?

No way. This is not "get rich quick" scheme. It's "wait a bit, get very rich" scheme :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 14, 2014, 07:51:23 pm
Here's an interesting quote:

Quote
"For every 25 percent increase in problem complexity, there is a 100 percent increase in the complexity of the software solution."
-- Robert L. Glass, Facts and Fallacies of Software Engineering.

More reasons to limit the scope of problems you are trying to solve...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 15, 2014, 10:38:52 am
I've updated the code for error-protected addresses that I did for NXT and converted it into the new format.

As a bonus I also wrote a simple address generator. It's not user-friendly, it's just for you, early adopters :)

https://simcoin.info/address_gen.zip

It's a simple console exe that generates random addresses and stores them in a CSV file.

It doesn't look for user-defined words because it's much faster to check a word against millions of pre-generated addresses than to generate those addresses again. What if the next day you need another address with a different word? You just try to find it in your database of addresses, instead of generating them all over again. This also helps if you just want to pick a better looking random address.

Don't go crazy with it, if some issue comes up - I will not hesitate to change how keys are generated.

The program will append new addresses and passphrases to "out.csv" file it creates on the first run. Make sure nobody else can read it.

If you use it, I would appreciate if you post here how many addresses per second you got and what kind of CPU your machine has. My, rather old, 2 GHz PC generates them at the rate of about 1400 keys per second. This means I can find a 6-character word in 4-8 days. The code is not particularly optimized, so the speed can be significantly improved later.

If your CPU has multiple cores, you can run several copies of the program, just make sure you run it from different folders. And leave one core free for the rest of the system.

To exit press Ctrl-C.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 15, 2014, 12:53:34 pm
Added a lookup program that lets you search for your word in the generated file:

https://simcoin.info/address_gen.zip

It will save all matching addresses in a separate file "found.txt".
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 16, 2014, 07:52:08 am
Invested 1.5 BTC because your tech really gets to the heart of why cryptos haven't spread that much: security and speed. Add ease of use to your "paranoid" security and you'll have one helluva coin.

Allow me to introduce myself to everyone as Investor #151.

Thanks! I'll do my best.

----

And with 75 investors we surpassed NXT. It's good, because people still bash NXT for small number of initial investors.

Total investments at this point: 43 BTC
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 16, 2014, 08:53:38 am
Current distribution:

(https://simcoin.info/img/distribution.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 16, 2014, 11:52:11 am
There is already a currency called "simcoin"
http://www.simcoin.org/

Therefore, the proposed change of name


That looks like a dead project or an attempt not to look like a cybersquatter.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 16, 2014, 03:48:31 pm
But I'm only saying that because I'm in the tank. ;) ;)

Hell of a tank with 76 people on board :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 19, 2014, 08:05:29 am
(https://simcoin.info/img/boat.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 19, 2014, 08:36:06 am
Hi NxtChg, I´m glad you´re back. I´m in with a few bitcoins :)

Cool :)

By the way, it's 92 investors with 53.645613 BTC already. I wonder where we are on the scale of successful crypto IPO's...

Is there an infographic somewhere about cryptocoin IPO's? Anybody keeping track?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 19, 2014, 08:44:40 am
How many people are working on the development os Simcoin? What is their skillset?

Currently it's only me because I'm still finalizing the design. I believe it to be much more important than code.

I don't want to take an easy way out, as BCNext did, and shift the burden to code maintainers and end users.

I announced Simcoin about a month earlier so more people had a chance to participate in the IPO.

So for the next 3-4 weeks things will be rather slow, since right now my daily routine is mostly sitting on my ass, thinking :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 19, 2014, 02:11:39 pm
How about "Sovereign Coin"

Very interesting idea, especially since once it was already a real coin.

But probably for some other crypto. Maybe those guys who want to live on an abandoned oil rig?

"Sovereign Coin For A Sovereign State." :)

For us, it doesn't convey the main goal of being simple.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:33:52 pm
why make it full open source?  will it not just mean 20 copies within a short space of time?

Well, that's how open-source works. I'll try to delay releasing the source code to give us a head start.

Besides, nobody would take a cryptocurrency seriously unless it's open-sourced. I know I wouldn't :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:34:35 pm
Perhaps "Payso" coin, a play on the spanish word Peso.

Wouldn't it be too confusing? :)

- Have you heard about a new currency - paysos?"
- New? They had it in Mexico for hundreds of years!

Also, it's probably not a good idea to associate "Internet money" with any particular country.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:35:30 pm
...then sprinkle in some traps for good measure.

Thought about it. One thing BCNext did right was placing intentional flaws in the code and setting a reward to find them. That's a smart move to make people thoroughly review your code. Should probably do the same.


NxtChg please give us a long head start in regards to open source. Nxt had a head start but still we already have NAS muddling up the Nxt name.

Yeah, this is a problem with cryptocoins. That's why I hesitate to publish too much info on the wiki.

Since I do quality work, it takes a lot longer, so by the time I get to release, Simcoin's features might be implemented in some other coins and won't look so new and exciting. As investors, you probably don't want that.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:35:51 pm
..."Paycoin"...

3-letter code will be "PAY"? Confusing?

One thing I do is try to pronounce the word really quickly several times in a row and see how it holds up.

Simcoin is Ok, Paycoin becomes Peecoin :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:36:15 pm
¥€$coin.

;D Clever.

You should patent it and sell to Ripple, would be perfect for their idea to be a currency bazaar :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:37:56 pm
Long posts without pictures are boring, so I think this is an appropriate one:

(https://simcoin.info/img/suspicious.jpg)

Ok, today is the last 100% safe day when the IPO won't be closed, so I thought I'd post a progress update for the last 12 days since the announcement.

You saw the address generator and lookup tool that I've posted here. Did some tests and settled on how account ID's will be generated.

The 3 main cryptoprimitives, which should be enough to build the system, were ready before the announcement. I found a bug in my Blake2s implementation when I did the address generator, so I wrote a unit test for it to compare to the reference implementation, and plan to do the same for Salsa and Ed25519, as well as other code.

Did some experiments with key stretching algorithms.

Converted Reed-Solomon addresses from NXT to the new format. Updated test addresses generator. Did extensive testing with 1 million corrupted test addresses.

Wrote a wrapper classes for SQLite, which will be used as our main database. The database interface code is now 90% done.

Did a lot of timing tests, both for crypto and database performance to assist me in making design decisions. Figured out protection from data corruption for the database. Wrote the code to do ledger verification on loading. Created a test ledger with 100,000 test accounts (about 10 Mb at this point). Verification takes less than 1 second, but that's without transaction history.

You've seen wiki, that took some time. I also keep documenting things in my local copy to be published later.

Console server skeleton is mostly finished, ini and log files, graceful shutdown, that kind of stuff. Ready to be filled with meat.

A lot of thinking went into trying to figure out the best encryption scheme for packets and at the same time protect from application-level DDoS attacks. I think I finally settled on how it will work.

Implemented transparent encryption/decryption in network code. Tested UDP connection between my home PC and the simcoin.info server – it worked perfectly. Also made sure that VPN indeed hides IP's for our UDP packets.

-----

"Boehm and Basili (2001) say that it is 100 times more expensive to fix errors in production than during the earliest development phases."
 -- Robert L. Glass, Facts and Fallacies of Software Engineering.

So the rest of the time was eaten by lots of reading and thinking about overall system design :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:40:20 pm
The IPO will be closed when the btc reaches 69.5 or more.

What's so special about 69.5? Why not 100? :)


Will simcoin launch in one month or do you think it will take longer?

In one month only the Test Net might be launched. Official Simcoin launch will be much later. It's hard to predict.


Investor list keeps getting bigger and bigger.  8)

Time to call my yacht designer and ask for a helipad 8)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:40:34 pm
I understand. I don't mean all the features and fully launched. I mean, do you think it will take more than 2 months until an alpha version is launched and people can actually see something and start trading their coins, etc?

It's really hard to predict. It's my first coin, you know :)

On the one hand, when it comes to developing software, things usually take longer than it looks.

On the other hand, focusing on simplicity reduces the amount of code to write and decreases debugging time. But unexpected issues can always pop up and delay things.

The core of the system is not very complicated, so Test Net in a month is realistic. What is complicated is all the other stuff - good clients, merchant integration, etc.

About trading - I haven't decided yet when to setup the exchange. That can be done in a day or two, the question is when? Should this be done before people can access their wallets in the system? I don't know.


As for the yacht, tell him to make one for me too. :)

You need to bring another 100 investors first ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:41:11 pm
There are some people saying you deleted their posts in this thread. I'm little worried about simcoin. Hope this is not a scam again.

This is my temporary home. I intend to keep it clean and orderly.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:42:27 pm
Distribution update:

(https://simcoin.info/img/distribution-04-20.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:43:00 pm
x - users?
y - numbers of btc invested?

Correct.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:43:52 pm
I tried creating an address to send bitcoins, but I get a message it fails. Any idea whats going on? More problems with the website?

They're under DDoS:

https://twitter.com/blockchain


I know there will neither be blackjack nor hookers. But what about some basic things like network protection to make sure the whole thing is not easily attackable?

That's not blackjack and hookers, that falls under Security, which includes Privacy and Reliability.

https://simcoin.info/wiki/DDoS_Protection

There will be more info in the wiki later.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:44:32 pm
ExpressCoin (EXP)  and/or  ExpressPay (EXP)     8)

Not bad, but there is a reason Simplicity is placed at the top of the pyramid, with Security and Speed descending from it.

"Express" makes only one claim of speed. It also has another meaning, as in "expressionism".

Besides, if my ideas are proven correct then soon every coin will be an instant coin and speed advantage will be lost.

It can also be read as "ex-PressCoin".

And it has 3 syllables instead of 2 in Simcoin.

So it's a nice name, but I don't see much of an advantage...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:45:18 pm
Three-S-coin  SSS or 3S (Simple, Secure, Speed)

(https://simcoin.info/img/phteven.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:46:43 pm
...who got into crypto at the end of 2013...

Actually, I was here on and off since the time Satoshi was still around, but, of course, can't prove it without revealing my previous account :)


and has admittedly never tried to write cryptocoin code before

How many people in the world at this point can claim they wrote a cryptocoin before?


yet claims to write one from scratch that solves problems that very smart people have tried and failed to solve for a long time.

It never ceases to amaze me how folks seem to be so confident that "very smart" people are little green aliens living on Mars and a random stranger on the Internet can't possibly be one...


but there is NOTHING that would stop you from sending coins back to your own IPO to show interest and a good "distribution" and dilute real investors

You can watch my main wallet, can't you? Or do you think I had 80 BTC laying around to spend on pretending? I would be sailing my boat instead then...


I encourage you to keep investors in mind and not bank IPO profits that are out of proportion to your potential to deliver something of value in a very crowded space.

I keep in mind those investors, who would miss the chance to get a nice ROI if I closed the IPO early.

----

Now, I don't mean you personally, but in general people are hypocrites: when they miss an IPO they scream bloody "unfair distribution" and "premature closure", but when it's their money on the line - "to hell with fairness, close it down now!!!"


P.S. If it sounds like an angry post, it's not ;D  I don't have any negative emotions at the moment. I did a day's worth of good work and I am happy :-*
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:47:06 pm
Bye the way, today (April 23) is exactly 1 month since I've started writing first code for Simcoin :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:47:44 pm
How is the general progress of the coin? Any date?

Guys, you have to be more patient.

I know you got used to other coins' quick "results", but building a coin from scratch is not the same as copying Bitcoin source code and replacing the name and app's icon.

It takes time to be thorough.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:48:10 pm
(https://simcoin.info/img/client_icon.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:48:53 pm
Great. Can't wait to see the client and find out more details about everything.

Don't get your hopes up - it won't be soon. The first client will be an ugly test client for Test Net, probably with just 10 recent transactions and a "Send Money" button. The real client will come later.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:50:20 pm
So, for the client I've decided to use an embedded browser instead of native interface.

This approach has many advantages:


I considered embedding Google Chrome or Firefox, but they are huge - tens of megabytes!

So for Windows client I've decided to go with IE. Yes, it's not particularly fast or smart, but it does the job and is included in every version of Windows, so the client will be small.

Currently, the exe file is just 86 Kb and the icon takes 32 of them :)

So here's a test version:

https://simcoin.info/simcoin_v01.zip

please run it and tell me if everything is Ok.

The logo is a transparent PNG, it shouldn't have any white borders (unless you are still using IE6 :) ).

Click on buttons. The last one sends a packet to simcoin.info server and waits for reply. This is to test firewalls and other networking issues.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:52:07 pm
Did you make this? http://nxncoin.com/
or did someone steal your designs?

Aha-ha, fantastic!  ;D

They stole and uglified it :)

No, of course that's not mine. This is most probably a scam.

On the other hand, I think we will see more and more cryptos using my idea of doing IPO this way, so some of them might be legit, but probably not the ones who are so quick and sloppy.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 20, 2015, 03:53:28 pm
I want to post this as a reminder to myself and to help explain why things are moving slow.

[delusion of grandeur mode on]

When you have 130+ people invested in your project, it's very tempting to work on exciting buzz-features that will give appearance of significant progress, rather than on the tedious tasks that have to be done. Yet, it's the tedious and unexciting tasks that distinguish serious software projects from hacks of "script-kiddies". Things need to be thought through. Alternatives must be weighed. Optimal solutions satisfying multiple criteria must be found. Things need to be documented. There need to be unit tests. There need to be tools. There need to be integrity checks. All the invisible, time-consuming and boring stuff.

It's tempting, for example, that since I now have a skeleton for the client, to start drawing pretty screens, even if nothing is working yet and the underlying mechanics doesn't exist. "Hey, but it will look like we're almost done! People will be glad to see the progress!" Shut up, brain. That's why most open-source projects suck.

So this is a reminder, that every morning I need to make a conscious effort when organizing the to-do list for the day, to work on what has to be done, instead of what would make it look like we're moving fast. Let other coins work on cool stuff, that's how we got where we are.

[delusion of grandeur mode off]

P.S. Yes, I work on weekends.


Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:35:43 pm
Deposits:

(https://simcoin.info/img/deposits.png)

I was too lazy to export it with dates, so here are a few key points:

64 - April 14
91 - April 15
127 - April 18
163 - April 20
181 - April 21
208 - April 25
226 - April 26

Fat yellow line is a 10-deposit moving average.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:36:27 pm
Distribution update

(https://simcoin.info/img/distribution-04-27.png)

Weekly progress report

This was a rather slow week. Most of it was consumed by client skeleton development. It might seem simple to integrate a browser into your app, but for C++ and IE it's not as easy as dropping a control on your form, I dare you try it :)

Anyway, you saw the test version of the client with basic networking.

What else? Wrote a unit test for Salsa20. Had to revisit several topics and modify things / update documentation. That's how iterative design process works, you go in circles. The Vault file format, for example, is now on its 3rd draft, and each one was a complete rewrite. Updated and simplified packet encryption.

So, that's it, two big chunks of work: client skeleton and design/documentation updates.

(https://simcoin.info/img/different.png)

See you in a week!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:36:47 pm
I will delete any posts with excessive overquoting.

It's a disease that doesn't get enough attention nowadays.

Respect the time of your readers.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:37:38 pm
Help me make sure that passwords in other languages are correctly handled in server's console.

Download and run this program:

https://simcoin.info/utf8_test.zip

Type something in your local language (not English) and press ENTER.

It will open a text file, make sure it matches what you've just typed.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:41:23 pm
BOUNTY

I thought hard about what I can outsource at this stage and the answer is: unfortunately, not much.

Still, I think, I found a task, which is both simple and can be used later as a foundation for many useful services. It's not required at this point, but I want to start looking for good programmers for long-term collaboration on the Simcoin project, and since good programmers are so hard to find, I better start early :)

So here's the task: a simple PHP/MySQL tool for monitoring Simcoin network health and various parameters.

It's just a simple database with 2 PHP files: one cron to send out UDP packets to servers from the database, collect statistics and save back into the database. The other is index.php to display those stats.

I am not limiting you in any way. Part of what I'd like to test is the ability to design things, so practically everything about how you build this system is up to you.

Currently, there is only one test server at 81.17.19.136:7812, it will simulate packet drop so you could measure the drop rate. You should measure the ping too.

Send a UDP packet of 16 random bytes to it, it will reply and the 4 bytes at offset 8 will be the server's time (https://simcoin.info/wiki/Time_Format). You need to record this in the database too.

That's it.

Rules:


Yes, the bounty is rather small, but it's my first one, not sure what to expect. Plus I am paying all 5 people, not the best one. This is also a simple, test task - if your code is not good, I'll have to throw it away. And I cannot use the IPO funds until it's closed, so I am paying you out of my own, tiny pocket :)

So, let see how it will go.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:45:17 pm
As far as I remember you needed something to automate Nxt deposits and secure them and CfB couldn't provide you with that. I might be wrong since I'm neither programmer nor native English speaker.

Ah, that. Well, now I can fix everything I was so upset about in NXT ;)

Go, Simcoin!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:45:51 pm
Distribution update

(https://simcoin.info/img/distribution-05-04.png)

154 investors with 99.12 BTC. Not bad.

Weekly progress report

Another slow week. Decided that the 3rd draft of the Vault specification is probably the final and I should start writing code for it. The code took surprisingly longer than expected.

Actually, this is a perfect motto for the software industry in general: "It took longer than expected!"  ;D

One of the reasons is that when you are developing a system that deals with people's money and has the potential to be used by tens of thousands, if not millions of users, you become so paranoid you can't even see where you can safely cut corners anymore!

To give you a peek into my evergrowing paranoia: at first I was writing the Vault class in such a way as to keep 2 identical copies of its contents in memory, repeat all operations for each copy and then, on each access, verify that both copies are the same! And I already had 2 other ways to verify each record's integrity!

Fortunately, I had a moment of clarity where I realized that this is most certainly a retarded overkill and scraped the whole idea, replacing it with a single copy and simplifying a lot in the process.

---


Hm, I guess the week wasn't so slow after all :)

Another test client release (v0.2)

So, things are slowly starting to shape. This is not how it will look, but navigation will probably be similar.

Please download and test it:

https://simcoin.info/simcoin_v02.zip

Mostly, I'd like to test the on-screen keyboard and make sure it works correctly in different IE versions. If you also know any of the languages it currently supports, please make sure everything is correct.

You can also test the "data_folder" INI option if you have time.

---

That is all for this week.

(https://simcoin.info/img/incomplete.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:47:02 pm
I see you do all the development on windows
but will this be limited only for windows I mean do you have future plans to
port the software on other platforms like linux as well?

Of course! But if you want to go mainstream, you have to go first after the OS that has the biggest market share.

If I remember correctly, Satoshi's first client was Windows-only too.

Also, unfortunately I am a Windows-only programmer. Or "fortunately", if you are a Linux programmer, because this means BOUNTIES!!! :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 26, 2015, 11:47:22 pm
Total investors: 157 with 100.313 BTC

(https://simcoin.info/img/balloons-colbert.gif)

No, it's not closed yet.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 28, 2015, 12:43:57 am
Even with Nxt everytime I send coins it like in that certain moment the network needs 10 minutes instead of 1 to generate next block and confirm my transaction.

Exactly! NXT's 1-minute block is an elusive creature, especially when you need it the most.

I know what NXT defenders will say: "As soon as we have Transparent Forging/Instant Transactions/Charlie Sheen's Blood, everything will be perfect." Well, we'll see.

One thing I know is if you are waiting in line in front of an ATM or a cashier, one minute can seem like an eternity. I want it to be as fast as credit cards.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 28, 2015, 12:46:26 am
It was a good idea to make self-moderated topic. One of not many threads on the forum you can breath easily without all those trolls.

That is one thing that upsets me about bitcointalk.org - lack of strong moderation.

I believe Bitcoin would have much better image if more effort was put into this forum.

Right now it's just a giant garbage dump, no sane people would hang around here, only us, cryptomaniacs :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 28, 2015, 12:47:14 am
(there must be a reason why nobody done it before)

(https://simcoin.info/img/impossible.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 28, 2015, 12:47:36 am
Oh, turns out today is 1-month birthday of this topic :)

(https://simcoin.info/img/balloons.png)

So, the top 10 investors own 24.17%, a slight decrease from 25.54% on April, 28.

Good.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 28, 2015, 12:48:21 am
Seems someone is developing something similar.

https://github.com/zack-bitcoin/basiccoin (https://github.com/zack-bitcoin/basiccoin)

What do you think of the project? Is there anything useful we can take away?

It's nice to see that developers start to appreciate this approach.

Of course, you cannot program anything remotely meaningful in 500 line of code no matter how advanced your programming language is, and Python is certainly not a silver bullet.

They also use blockchain and PoW, which means they are essentially copying Bitcoin in a much slower language. (I wonder, why would people make PoW coins at this point? ???)

So, don't worry, no reason for me to quit yet ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 28, 2015, 12:50:03 am
What are your thoughts on the matter?

My goal is a long-term success of this project. I would very much like it if Simcoin reached dollar parity one day and would be used by at least 100,000 people.

When you keep this goal in mind, the current state of the IPO (one month and 166 investors) doesn't look particularly significant.

Yes, it can be upsetting to watch your share decrease. My advice - don't. Current number is pretty much meaningless until the IPO is closed.

I doubt it will stay open for 6 months, so no reason to panic yet :)

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 28, 2015, 12:56:48 am
Distribution update

(https://simcoin.info/img/distribution-05-11.png)

169 investors with 109.249 BTC.
 
Top 10 accounts own 24.03% compared to 24.17% on May 8 and 25.54% on April 28.

Daily deposits

(https://simcoin.info/img/deposits-05-11.png)


Weekly progress report

Another slow week. I think of it as building a pyramid (visual pun intended):
(https://simcoin.info/w/skins/common/images/logo2.png)
First layers take a lot of work without increasing the height of the pyramid much. But once you get closer to the top – whoosh! – you'll start advancing in giant steps :)

---


Another test client release (v0.3)

Please download and test it:

https://simcoin.info/simcoin_v03.zip

There are files with Unicode names inside, so if you have problems with ZIP, try 7z:

https://simcoin.info/simcoin_v03.7z

Password for included vaults: "123".

There is a UTF-8 string at the top, make sure all characters are displayed.

Test the "Copy" button on the account creation dialog and make sure it copies the secret into the clipboard, I read that it might not work in higher IE versions.

Extra

I want to praise fsonex's work: he kept improving the code he did for the bounty and after a few iterations it became practically a complete Simcoin network monitoring tool.

He then restyled it to match my IPO design and look at it:

http://107.170.126.199/simcoin/tools/check_network.php

How cool is that? :)

This is an important piece of work, because PHP - UDP bridge is the basis for many services that want to interact with Simcoin network. And fsonex did an excellent job on that. It's good he decided to help.

He is now working on porting the C version of Blake2s-based hash functions into JavaScript, which is important for developing proper web-clients.

---

That is all for this week. Even if things are somewhat slow I am happy with the steady progress.

(https://simcoin.info/img/create_account_screen.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 30, 2015, 11:33:41 pm
Has there been any discussion regarding the scalability problem?

How many transactions/second will the infrastructure be able to support?

At this point in cryptocurrencies life, TPS is not an issue at all.

We can see that Bitcoin is doing all right with its "measly" 7 TPS.

On the other hand, I know that some in NXT community are obsessed with an arbitrary round number of 1000 TPS and share a delusion that they can achieve it (without any feasibility study done, mind you).

I think that in the nearest future, it will neither be feasible, nor required, for any crypto to reach 1000 TPS. We should be comfortable with 10-100 TPS (i.e. PayPal level).

So this is my goal. 10 TPS is rather easy, 100 TPS is probably realistic with some tweaks and optimizations.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 30, 2015, 11:34:25 pm
Do you plan to add anonymous features? It looks like DarkCoin skyrocketed because of it.

My position on anonymity stays the same - it's an important option, but should not be a default protocol.

For performance reasons and for accountability of public servants.

If you are a private citizen and you send an anonymous transaction - that's fine. If you are handling other people's money, for example, if you are a charity or some form of local government, then sending a private transaction is a big red flag and requires explanation.

If all transactions are private it will be harder to keep public servants accountable and corruption is not a joke.

As soon as the system is working, providing optional anonymity will be on top of the list.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 30, 2015, 11:35:06 pm
  • New users would immediately have some coins...maybe 100 or so. (It's frustrating for people new to crypto to download an empty wallet, then get told they need to go buy bitcoins, trade them for the new coin, etc, just to try out crypto)
  • Also, this would demonstrate to everyone 1) how quick the vault loads (Bitcoin takes me about 10 minutes to load) and 2) how quick transactions are sent and confrmed.  Instead of just reading about it, all new users of Simcoin will get to see for themselves

This is no different from a faucet, it has the same set of problems.

Binding to IP is useless, they can be easily spoofed.

People will just abuse this system by creating lots of dummy new accounts until the giveaway fund is completely dry.

Rewarding for buying on exchange is not good either, it can be easily gamed - you buy, sell to yourself, withdraw/deposit, buy again.

When it comes to giveaways, you can't underestimate poor countries with lots of people. They mine gold in WoW, for christ's sake...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 30, 2015, 11:36:27 pm
For instance, I think if you staggered your initial IPO you would have had less complaints from investors.

Next time I will do an IPO, I'll do it this way :) It's too late to change anything at this point.


Also, I used to like the idea of world community grid, but truthfully it's a waste of time.  It's not like you'll be getting it out to some big portion of the public.  The only people that will mine it that way are crypto miners who will do it until it's not profitable.  You may as well just let people buy shares instead of going through the hassle.  This just sounds good to people who are still stuck in a POW mindset.

I agree. I just like the idea that even if that system is gamed it will at least do good for humanity. It can also give us minor publicity and cater to people who like to mine and have some GPU surplus left from earlier Bitcoin days.


What if the person who stole all the Mt.Gox funds got a big stake in simcoin?

Yep, that's a big concern, thought about it too.


BTW, NXT has switched away from the numerical addresses.

Well, you know who they have to thank for that, right? ;)

I think you may be losing ground doing development all by yourself when bigger teams are working on other projects.  Will simcoin really be relevant by the time it is released?

As if the only advantage of Simcoin is RS addresses... There are other advantages in having a single person in complete control. One thing I don't like about NXT in particular is how easy things get thrown into the pile, without much consideration.

You sound as if sending money from person to person is gonna be obsolete in a year...

All the other coins are "results oriented". Can't at least one coin be "details oriented" for a change? :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 30, 2015, 11:36:59 pm
By the way, RS addresses is a good example of my approach.

The original idea to use Reed-Solomon was by Ricot, I wanted simpler checksums. He quickly did the initial Java implementation using a third-party library.

I, on the other hand, spent a lot of time simplifying it, so the final implementation was without any dependencies and under 500 lines of code, yet with full error guessing. This allowed to port it easily into JS and PHP. And later to Java (I hope it was easy for them to port to Java :) )

I documented it in a wiki article (http://wiki.nxtcrypto.org/wiki/New_Address_Format). How much documentation did BCNext or CfB leave after their "highly productive" work?

Then I wrote a test generator and tested it on literally millions of addresses.

In the process I found several important issues, a nasty one in particular: the default implementation was not very good at guessing insertion/deletions, so I solved that by introducing a scrambling pattern. Then tested again.

I tested all 3 implementations (C++/JS/PHP), both types - simple and with error guessing, 6 in total.

The tests covered 8 test cases:
* old (numeric) addresses because the code supported them too,
* valid addresses,
* 1-2 errors that can be guessed,
* 3+ errors that can't be guessed,
* 1 deletion that can be fixed,
* 2+ deletions that can't fixed,
* 1 insertion that can be fixed,
* 2+ insertions that can't be fixed.

The test cases where altered in all possible ways, here's an example:

Code: [Select]
12068133307708609874, J7CL-BQY2-NZY4-CZNYG, J7CL-BQY2-NZY4-CZNYG, Ok
18051442103835987327, T5DZ-YHPC-GTQX-HUW2P, T5DZ-YHPJC-GTQX-HUW2P, Ins
15152579518394945858, NNC4-TB6E-NSJZ-F88L6, NRC4-TB6E-NSJZ-F78L6, Fatal
8458344897432174244, XHP6-VUVL-JW6J-9MJSC, 8458344897432174244, Old
5266983966593226586, H7UU-2E99-W9HF-6Q28L, G7UU-2E99-W97F-6Q28L, Error
5887330571029807732, H2MN-YT2S-KK6V-7ZZE5, NXT-H-2MNY╛t2S-Kk6ЫVCеzе-ZE-5, Error
13902446730925435678, MUSY-NLWT-9L4T-EBVV3, JHPY-NLC5-Z5BM-FAPFJ, Fatal
2832891440480596819, GEUM-S7YK-SHFN-4M5NG, GEUMS7YKоSh╞FB4MHЦNG, Error
134625926062566564, AV76-L64A-5NAK-2BLR5, A8XVV7MT6-2LJ564A-5NA6T8K-T8K2EBLRBN5, Ins+
14703280978351155599, 3UEH-6S3Q-STQP-EE65S, 14703280978351155599, Old
7012263308303942692, EK36-CG7H-ZNRT-8J6N4, EK36-CG7H-TZNRT-8J6N4, Ins
11912241044917367009, 3E93-5REL-5EY9-CA8NC, -3E93XREL-5Ey9W-A-8NЬ└C, Error
10067577635043541031, 2239-JM8R-68PJ-ASTFR, 10067577635043541031, Old
3178571623049693715, 94JM-3MLJ-PL22-4G69S, 3178571623049693715, Old
15463018710113099227, 79GV-LWFS-FWCY-FFX7F, -79G-FV--lWМfS-F-WCY--F-F-X7F, Ins
3406317423457193323, 9MDD-NSSQ-KFH9-4DFKY, 3406317423457193323, Old
6060529994415875076, 6B26-XFXW-AAT9-7MU8A, 6060529994415875076, Old
2345176969639542135, PHDR-2XBE-9NBC-4YX43, 2345176969639542135, Old
7016394871974794223, W6ZH-YSPY-MNMS-8XTR4, 7016394871974794223, Old
5130786269813189685, PD3P-XQMC-S8VJ-6Q3FG, X6MA-SPLS-S8VJ-FCV6T, Fatal
803442504639310311, MUH9-QFZ9-WLFQ-28MBQ, NXT-Cu77-QFZB-WSFP-╤28MYQ, Fatal
7682342953946013490, URTL-8UYC-88QN-8CB9P, URtL8cUyC8Ш8Q╦n8CB9P, Ins
13105810908266970264, 4H6S-LPJD-4LR3-DKBSD, NXT-4HES-NW8D-C5RZ-D3MSD, Fatal
11496147297000321596, CWKW-3UTN-KLEA-B7N4Z, 11496147297000321596, Old
4563425248618681545, G78B-4RMH-4LCC-5D6PY, G78B-4RMH-43KC-5D6PY, Error
8913411229488543153, AXFK-B8VC-VYND-9EQER, A═XFK-BЗ8VC-VYND╝-9E┘QER, Ok
3617161596165569211, 6GPV-BUKC-3ZVJ-5XPE6, 6GPV-BCUC-3ZVJ-5XPE6, Error
12740187264528015323, DRYV-U6B4-SGVB-DWKM3, 12740187264528015323, Old
14843690334684923554, QKP4-QVBE-B8FZ-E3VZV, QKP4-QVBE9-B8FZ-E3VZV, Ins
2768518463745307077, EEG7-VZJU-2A7A-42YUE, NXT-EkGW-AK6-LSh-7-5-K-Y8Wg, Fatal
3242305862527240258, NL44-25LK-WGR7-4WRZT, NL4K-25L9-WGR7-4WRZT, Error
11513417153287552450, HZG4-WTUB-4DMP-BZYKZ, , Del+
811485634663020938, RYEC-WCK8-SXQR-2TRJQ, RYEC-WCK8-SQR-2TRJQ, Del
10415911839373287045, 4RN7-N98U-KUCA-B2853, 4rN7СУ-n98u-kUCa-B285Н3, Ok
12487581470366314996, YEHN-7XQG-N52D-CF8MU, YEHN-7XQG-52D-CF8U, Del+
15333159299811840568, 86KS-6N4W-M9M5-FMLLB, NXT-15333159299811840568, Old
17769195784074418984, ZQTA-FGH3-R49W-HX88F, ZZTA-FGH3-R49W-HXT8F, Error
11657516539414723796, WH8N-JX5J-LYT3-CKYK5, 11657516539414723796, Old
10022820871845127670, 8BHQ-HDAV-AUBX-AQ38Q, 8BH-V-AU-AQQ, Del+
10877171607887042047, 6PHZ-YCEK-KGCF-BTVWF, 6PHZ-yCEK-KCF-BTVwF, Del
13120373132897964970, ENXC-V83H-LSZF-DF97E, ENXC-V83H-SZF-DF97E, Del
4454647093493185633, 8H53-XS5Q-CY9D-5PJNV, 8SVHC53-XS5Q-5C7Y9D-59PJKNV, Ins+
12382829506244626035, ZKMM-UJSY-QDAJ-C77QR, ZKMєMMAUU2JSY9QYDAWJ%KVCQN987DQ527QR, Ins+
10171230884522917120, JZA2-M8E9-23AS-ASVBU, JZA2-M8E9-23AS-ASVBU, Ok
16256528503241157776, 9D6J-KDYD-22CN-GCQ85, 9D6J-KDYD-22CN-GCQ8S5, Ins
16150031445493597038, KJVG-33Y2-U2BH-GJ5A2, V-33-U2B-GJ5A, Del+
1174982535333098098, 4EML-EHXX-9WGH-32MM2, 4EML-REQHXX-9WGH-32UMM2, Ins+
14065122917920600692, TWMN-SS8F-NT5M-EUCE8, ыsMu, Del+
6127994952019801664, FXL2-Y5YA-L997-74S4C, FXL2-YB5YA-L997-74S4C, Ins
11502628829952373509, NWS7-ZAS9-PFZ2-BDEAZ, NW7-S9F2DA, Del+
17694316010558736997, SLM7-P92F-E4FQ-HQQ5D, SLM7-P92F-E4FQ-HQQ5D, Ok
4780406842592520989, 7USX-QADB-YGBF-6CVP6, 7USX-QADB-YGBZ-CCVP6, Error
11803626076239088548, BLX6-E55W-TBU6-C9RM9, BLX6-e55W-tBu6-C9RM9, Ok
17893009105766984840, 6D6A-ZE23-GBSM-HW7NJ, 6A3-BSM, Del+
872540753238348705, 7NX3-86SF-CWGS-25Z8S, 7NX-86SF-CWGS-25Z8S, Del
5917606785018993534, Z8VY-2LLR-VZUL-7JW96, 746ZJ8VVY-2E4J9BLELR-P5VJZUL-7JW9N96, Ins+
8927854487460911201, S853-DD3R-ZT56-9WJTR, NXT-s8E3-mD3фR-zT56-9WJTr, Error
11169274332415350953, 4Q7B-UHVA-3TKK-BVB2Q, 11169274332415350953, Old
11657725459404681051, HVUV-KB2F-B4FV-CH6L5, HVUV-KB2F-B4FV-CH6L5, Ok
4110225591651356628, LMYN-ESAK-C9YY-5NM4L, LMYN-ESAK-C9YY-5NMGL, Error
8511083854333357081, ND2T-PHZK-CG6V-9KD9E, 8511083854333357081, Old
6288944265224666468, 6HD6-HNQH-7CSK-7KQKG, 6HD6-HNQH-7CSK-KQK, Del+
16228394645246663571, GQWM-YCWE-G54U-GQQF4, GQWM-YCWE-G54U-GQQF4, Ok
4172344929190824635, 6LPV-MFNF-RBMU-57TTM, 4172344929190824635, Old
12448640474508397384, Z4UA-KT7T-GKLA-CNMJT, Z4UA-KT7T-GKLA-CNMJT, Ok
1168628916680996911, CG3H-TVGJ-ZSL8-3FYF2, CG3эh-ЎVGJ-ZsL8{-3FYF2, Del
10873974578513607626, WYYC-AJSG-555R-BY2UF, 2T4F-VEHG-MG9V-V72UJ, Fatal
9841601209255575017, RHHB-72KD-N7WT-A657K, NXT-RHHB-73KD-N7WT-A657K, Error
14369715932007303011, 43V5-J8BB-J969-EWVUG, 43V5-J8BB-J96-EWVUG, Del
10656349239279186495, UWKZ-7KJV-L235-BPRS9, UWKZ-7KJV-LQ35-BPRY9, Error
17394075773946883277, BV8F-SAV7-ZCCH-HD3T4, HV8P-JA67-5CCH-HD3X4, Fatal
7995491288177980392, AEZA-YVUB-EQKH-8JFXX, 8AEWZ9бACFY5VF~U4xYWbLYEQKH3TKZY8uJнFXX, Ins+
12989460869761644484, PFY6-UW4Z-65CR-DPYJA, PFYX6-UW4Z-65CR-DPYJA, Ins
2090732104073999035, DWPV-SPZX-Q6MV-37Y2U, dW%PV-sPаzX-Q6MV-37КY2u, Ok
1375298031945824505, TG9T-ARZ8-YCJW-3CJ78, 1375298031945824505, Old
4390331624728078549, BC8P-DA73-BVMT-5REVT, Qb┐c8KP-dAY73-BV4MT-5ReWVHVCT, Ins+
2705969881082805462, KH8Q-ANHF-FYCY-4BE5D, KH8Q-ANHF-FYCY-4E5D, Del
1209459248371602338, 26X4-SX4S-L9G3-3W8L3, 1209459248371602338, Old
8237996398005474023, 2NR9-4H43-PU2Q-9YTN6, 2NR9-4H43-PU2Q-9YTN6, Ok
5601125261001760276, N9JN-RYU9-X96Z-6KTGV, N79JDN-NRZAY6U9D-X9ER6Z-6KTGV, Ins+
793844005668070794, QBEC-XD8G-3RTM-2E43Q, qBeC-4D8G-3rTMы-2e43q, Error
4366453954710325414, RL78-RM3B-E9PC-5488T, RLRM3B-E9P-548T, Del+
3830483614844835940, HQ56-KQ8E-VPG2-5W6CC, CQB6-VQ89-VS42-5SACC, Fatal
2041418108257574525, W9MX-YJGD-CPL3-3L6PS, W9_MBXyMJGdcZpL╘3Z3l26RpS, Ins+
17329821697337326813, DZ8X-2JTC-DNZN-H7ZZ2, DZ8X-JTC-DNZN-H7ZZ2, Del
14219200226543007705, ZXYT-AMYM-A6HW-EZ7PC, ZXYT-AMYM-A69HW-EZ7PC, Ins
18084534599894070256, 6WZJ-EWBH-T99W-HEBYP, BD6WRZJ-DLEW7H2ZBH-TL99WQ-HEB32YK9M6P, Ins+
11945925535688198588, F4FW-ZG3Z-YM42-CM5LD, F4FW-ZG3Z-YM42-CM5LD, Ok
16625876930326097894, 7VZ8-ZDZR-Z8YM-GURGF, 16625876930326097894, Old
17719747790967238211, UVL5-RG93-U99L-HJBUD, єUVгиLr-rG93-u99l-HJBUD, Error
8588476382625423380, JS2N-SJQ5-K8QK-975EG, JG2N-4JQ5-K8ZV-9758G, Fatal
15433567307547072260, TPS6-QADQ-Y5VP-FDSDE, NXT-TpS6-QADQ-y5VP-fDSDe, Ok
15138856981743167118, WTNG-8WZ5-URYB-F8286, wУtNG8WZ5uR╪BFє8286, Del
17008203477475668434, 2EGL-YE9A-TH6P-G8C4S, 2EGL-YE9A-TH6P-G8C4S, Ok
13786728309850407557, B2N7-DB3R-2NGX-DE4PY, Bш2N7Fd═B3r2NGxDe4py, Ins
17243422685416900179, ZKLM-LCL4-R6KW-GK9MY, 17243422685416900179, Old
9651937676985932610, B8U4-7RDH-CXU7-ALNWD, NXT--ўb8-UY-CU-4-7-Ru5DMHw3-▒-cX-J8U7-A-L-7-NWD, Ins+
16085052393534804989, 2NZX-XRZ5-L5DX-FPEGY, WQB-C73yLx-M8XZ-MF-b-W, Fatal
11944984035439140927, ZS3Z-Q7N2-8HNH-CVAKD, ZS3Z-q7n2-8HNH-CLVAKD, Ins
731225283009314187, VZED-JP8A-6QKA-2PGBN, VZKD-FP8A-6QKA-2PGBN, Error
929823282252931718, 7SN8-D77B-D7AN-27VTT, 5╪6-B7-G-8G=╬7-c5G-9--Z-HJ-7T, Fatal
10243112369488214890, 4GVC-FS2W-BH4M-ASQBW, B4W, Del+
5851098305840409923, 5VC5-X4JS-N8VN-78UE4, 5!VC-B-X4-JS-C-8V-N-7-8UE4, Fatal
1022278682985658074, 2XQU-3H2F-UARA-2XYDW, 1022278682985658074, Old
6714064201077808973, KRUF-U7W8-7P6T-77BDU, KBRMRUF-UEM7W8H-7P67B7TK2-5577BDU, Ins+
1739031111732387887, LS3H-LNC4-LWRS-39LAJ, JS3H-LNCC-LWRS-39LAJ, Error
18420640135452413434, 5MHU-MF2H-MPWU-H4UAZ, 6H25MH8AUT-NMF2JH-MPWCU-H4RUAZ, Ins+
10375210931740719881, HGSB-DX64-GJYF-A93ZZ, H6WB-DX64-GMWZ-993RZ, Fatal
16614112975515406955, VNMD-R9BW-TKDW-GHB6F, VBNMD3FA-4GRR9BFFW-PETKDXW-GHGBQ6F, Ins+
2083756383623133188, YG26-EJ46-LBSE-3XRUT, 8P26eCuR3rC39XNSX, Fatal
3301102521374188691, HB6M-A5AU-MAAM-4ZYMV, HB6M-A5AU-MAM-4ZYMV, Del
7972522322759560841, BDNB-TZTZ-PCKD-8Q2BX, NXT-7972522322759560841, Old
5153871014036150030, X7SG-E82W-9DL7-6UK3H, X7SPG-E82W-9DL7-6UK3H, Ins
12903752545336512331, 8MUD-LCR7-GNEV-DQU68, NXT-12903752545336512331, Old
14060355403698021597, NB8X-RULL-CKKC-EC5A8, NBC5, Del+
4096504452245108788, 2G3N-53EG-MXYQ-5PFQK, 4096504452245108788, Old
12302558025794434983, RFX9-CYY3-EXNU-CRVGP, 5RFX9-CYY3-EXNU-CRVGP, Ins
2922649909750869636, GDN6-MGNS-PPPJ-4QU5K, GD6-MGNS-PPPJ-4QU5K, Del
10475829376267031664, Z75J-C3XZ-N2S4-BZES4, Z75J-C3XZ-N24-BZES4, Del
13627830499545203229, 2JJX-NDAC-JZC5-D9Y9U, 13627830499545203229, Old
5530837719339752306, 9QVL-MAKT-CS3S-6VDJT, 9QVLE-MAKT-CS3S-N6VDJT, Ins+
6233337668566492068, HAX6-LPXZ-LYTJ-75C2F, NXT-╙hAX6LPxЇ~ZlY┴Tj75Сc2F, Ok
5463153906401191419, BBHV-K3N7-89DB-67ANR, BBHV-T3N7-89DB-67UNR, Error
1631323851394052930, FWU4-ETBZ-EVBP-32XAF, FWU4-ETBZ-VBP-32XAF, Del
1777698850991403827, EWTM-PYTH-T66R-39XCK, X6V5-VCU8-T86D-YJ6XL, Fatal
10889287162265126051, KK75-ZDQ2-65RN-B6N9G, KY79ZDQ689QBGGG4G, Fatal
10120431349439377361, ZDYK-Q6LJ-EDDT-AYRWS, NXT-ZDyKQ6LR5╛dDtayrWяS, Fatal
4753366589987699763, UH3M-RCPQ-SRN9-6TUX5, H3-P--UX5, Del+
13508729830115097769, RH7B-8P7D-XM69-D87YQ, RH7B-8P7D-XM69-D87YQ, Ok
8406389432430865071, 9CPH-NTFU-6SBA-9YDCB, 9C2PNH-NT9FU-6JSYBAF-Z9YDCBB, Ins+
18134427015456352554, DUBC-BB8S-YKAJ-HFMCR, 18134427015456352554, Old
5377625413567231422, MFFY-UBHE-RWQ3-6BBAP, MFFY-UBHE-RWQ3-6BBAP, Ok
14951760670252515284, XHYN-5LGJ-KVVV-EMUZY, XYN-K-E, Del+
12832931057889030149, VE27-TSQA-8HGV-DUX76, 5YV9REV27N-TXSWQaU-m8H6GV-DUX726, Ins+
9259560236519642939, DPTV-Z9B3-YQNV-AJ623, dPTVz9║B3 YqNVAJИ623, Ok
12038640796243638627, 3GD5-2P9C-Y79Z-CSG6G, 3G-D-52P9-CYx-C-Zc-S-g6g, Error
17682046479433258619, 3PMV-LVQB-ZAC6-HZTSC, , Del+
6003662293679231791, JNTH-3JH4-SJR3-7DCN8, JNTH-3JH4-SJR3-7DCN8, Ok
17661227562815832213, MJ6P-WNPH-KH6T-HAC8C, NXT-MJ6P-wnpH-{KH6T-haC8, Del
2312878395692031509, E9JP-NQ9Y-NMPR-4Y982, ═?╗, Del+
4712018317704962375, 2AC9-Q9AZ-2L3U-6M5T4, , Del+
12708230645942320934, ZZT8-G5ZK-Y45X-DN7R2, F5DY-93ZK-NBYY-DNWR2, Fatal
5380168256223000455, 4FW9-JSA2-EQAN-6LKCP, ╜}, Del+
17836412596365163236, DYR6-S76U-XW93-HCX3H, DYR6-S7DU-XW93-HCX3H, Error
14506763699104414116, EYF6-R7LU-5EUA-E2MNL, EYF6-R7LU-5EUAH-E2MNL, Ins
6255268074435722920, CHPA-7HZT-R8XQ-7FTMF, C3G3-UHZP-R8BD-7FTMF, Fatal
12329715981955251673, EHGT-DJLY-YS87-CMZ8Q, EHG5-DJLY-YS87-CMZ8C, Error
5731123999140890247, 6KN9-X8CA-JFGP-6CA4Z, 6YKN7W9-TX8CFA-UJFCGPBX-6LCAW4Z, Ins+
11152891796877349739, W6VD-ZYPM-U8RN-B9SKP, W6VD-ZKPM-U8RN-B9SKP, Error
10633093539957698225, VVPK-9MSC-4E59-BQ469, VVPK9mSC4-ПНE5bQ46-9, Del
11993653564064868443, YC4V-DWCL-GMJS-C6JWE, YC4V-DWCL-GMJS-C6JWE, Ok
1410636935889821394, 69QL-U8ZE-EPD5-3QW69, 69QL-RU8ZE-EPD5-3QW69, Ins
14213261594151308921, GMMT-5PKK-EZ76-E8XHC, GMMT-5QTK-EZ76-E8XHC, Error
1111000894927607379, U7LM-FPVN-XEPD-2KSUY, U7LM-FPVN-XEPD-UKSUY, Error
15500755721446531788, TAQE-8GZG-4JTL-FZF9G, TAQE-8GZG-4JTL-FZFW9G, Ins
18151828457959135110, Q7W8-TXG9-GFM3-HZ3UR, QW8XG9G3-HZUR, Del+
16026882965346618594, X594-6LD5-6AX6-FFRUW, 16026882965346618594, Old
4875264148258006325, VBBP-X8HK-8MFG-6C5C9, 4875264148258006325, Old
16941867967334536458, QPAC-6Y6A-5JCT-GVE9Q, 16941867967334536458, Old
420265246874736972, L8CE-2HRQ-3Q5U-2PAPD, 5, Del+
9557888130118926601, LJAB-MP9C-LG5W-AJ5BB, LJAB-MP9C-LGQW-AJ5BJ, Error
3963828943464074402, F574-FJYT-RB52-5TL2G, NXT-╪F574-FJYT-RB2-5ПT╒L2G, Del
11852512631133614540, TEGE-G5BA-DAPG-CP6ZA, TEGE-G5BA-DAPG-CP6A, Del
3148125315196488466, 94SL-BFSD-AKJE-455ER, 94PD-6QSD-AK9E-F55ER, Fatal
3704147522044986438, 7348-KGZL-LV6N-58YT8, 7/348Л-KgZl-LV6N-58YT8, Ok
16457628321441676472, 2Z7S-SEEH-B488-GXBTA, 2Z7s-SEEH-B▌488Ш-GxBA, Del
14550587501244184812, DY9E-9PUG-Z4KX-ELJVM, DY9E-ZPUG-ZQKX-ELJVM, Error
15292616383918112099, 5ZD5-LHAW-BWPA-FBLGA, 7U5ZTD835-L6HFAKW-5BWZ7YPA-FFBLGA, Ins+
6206350802262463831, 37CR-7J67-XJ24-75DAE, HWCZ-RJH7-KJN4-S5J2E, Fatal
6498947492294603478, 7EQQ-BYU4-HC87-789EN, 6498947492294603478, Old
18271440513925280173, 6WFF-CXDM-RR4K-HLB6V, 6WFF-CXDM9-RR4K-HLB6V, Ins
7643570464277230285, LWQF-UW3G-HLVA-8CV6N, LNXF-YW26-GGBS-NCV5N, Fatal
1718678798615640633, PYKT-ADP9-HZCZ-3THQH, 1718678798615640633, Old
1552473649278327908, 9956-KW48-ALGZ-3YV4D, W9LZ-PMMJ-3GTZ-2YVQP, Fatal
681674084154032052, GHXN-YZ5B-VT4X-2CGXL, 681674084154032052, Old
15414267560335310475, TZND-PQ5B-APZM-FUMUD, TznD-PQ5B-aXpZM-fUMUD, Ins
13257509214508584939, 35ZD-EGNN-KNDN-D43ZH, 35ZD-EGNN-KWDN-D43ZH, Error
17625709741088512709, L8Q7-MZHV-MSTL-HTS8B, L8Q7-MZHV-MSTL-HTS8B, Ok
15690802939121860626, 922L-6H3J-L2CF-FG9JM, ╨2L6ЦH3JL2G9M, Del+
12931105186852954515, BSEM-NZ9T-7NC6-D56X8, BSEM-7Z9T-7NC6-D56A8, Fatal
11307787416349761249, KRR3-RTTL-BC3A-BNCVT, KRR3-RttL-BC3A-BnCvT, Ok
5088811786468410652, CKAW-DGQN-UCMM-6RS9F, C!KAw-DgQRn=-uCMM-╦6rS9F, Ins
3625361642133767270, DK58-8LGV-EBYE-5ZYM6, DK58-8LGV-EBYE-5ZYM6, Ok
3332437613391758380, VK3E-DBV7-JFA2-4LTHW, vK3E-SBV7-JFA2-4qtHW, Error
9412714669917558544, QPSJ-5WJA-2AVT-AG7A7, QJSJ-FWJA-6HVQ-B87XW, Fatal
15145765523245989185, YZC3-HXN8-ZL77-FK6E6, YZC3-HXN8-ZL77-FK6E6, Ok
16930828547154070929, LMEK-VJX4-8T4G-G4MXP, Z3TJ-PHX4-8MNT-G5PXE, Fatal
7054043979965367890, 53LL-N2VX-AEYE-8Z9T5, kСAZLд-PN69х-VgnY-QFE7c, Fatal
16004480058713219716, TAN6-U7P8-QXPZ-FPU8W, TANT-UGL8-PX2H-FPT8W, Fatal
10691469918572726640, ULDJ-9UZN-ZDNR-BVXRA, ULAUDJ-9UZLN-Y7FZCDXSNRMNR-BSVXRA, Ins+
15497043167834629362, UT9L-NXZU-WKPX-FG66G, T9L-NXZU-WKPX-FG66G, Del
12189745477520243214, BGJG-XQ32-7WYR-CEPCL, BM3G-43YK-8KY9-P6PFL, Fatal
4172566374930576403, MX2M-2D3R-2SGW-5HZTM, MX2M-23R-2GW-5HZM, Del+
17782586760615097316, FWZ6-G792-AH59-HJ5LF, , Del+
4855393128624141869, 9FKF-CFCA-R99F-6LGS8, 9FKF-CFCA-R99F-6LGS8, Ok
17192296608620613500, S5VW-PP4Z-XRGB-GGU7X, SJ5VW-JPP4ZV-SXRGVBF-G6RG9U27X, Ins+
3053040448549884591, G6PH-5LYD-BLJ5-4NNRN, G-6-PH-5LYDb!LJ-54NN-R-N, Ok
15217977252846509267, A98M-PVKY-QDAL-FXAE8, A98M-PVKY-QDAL-FXAE8, Ok
9707298537496878724, R9N6-LUJ4-F6R5-A2UFF, r9N6-LuяJ4M-f6R5-A2ЗU~FF, Ins
5363194319290084981, VDMP-U7MC-5388-66HVN, YVDDQ6MPZ-EU7RMC9S-Q5388-6KK6H6VN, Ins+
13576854560349151264, 3S32-BACE-WTR4-DFPUS, 3S32-BACE-WTR4X-DFPUS, Ins
18112681382807774632, FBFA-S4N3-BRSA-HDBRQ, 18112681382807774632, Old
6164463360270249537, 5DL3-SHTX-QVYN-7L65D, 5DL3-SHTX-QVYN-7L65, Del
18262324518444568243, R5PM-EJZE-83UJ-HH8WU, 5MЬJ8H, Del+

Only after I was satisfied with all test results, I released it.

--

This is what makes my work different from the majority of other "developers" here.

So pardon me if I want to make at least one coin right.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 30, 2015, 11:37:48 pm
Anyway, here’s the progress report.

Distribution update

(https://simcoin.info/img/distribution-05-18.png)

174 investors with 113.095 BTC.
 
Top 10 accounts own 23.38% compared to 24.03% on May 11, 24.17% on May 8 and 25.54% on April 28.

Weekly progress report

No test client release today because I was focused on pushing the server code, in particular a system of tasks – the server is highly parallel and asynchronous, so it's not trivial to program. We will need a task management module to handle all the things that are currently going on.

Started coding with 2 basic tasks – Ping and Pong to update network timestamp and get other various network parameters. One task listens to incoming ping requests and responds. The other periodically makes sure the time is synchronized with the network and the node runs a correct version of the software.

Decided on how to track responses and prevent attacks by pushing unexpected packets to us. Packet encryption slightly improved and optimized.

Working on details of consensus mechanism for various types of interchanges.

fsonex ported Blake hash functions and HMAC + key stretching based on them into JS and did tests and timing measurements. Very good and thorough job. It's an important cornerstone for web-wallets.

He also ported Salsa20 cipher into JS, so the only cryptographic primitive that remains is Ed25519.

He is now looking into client auto-update functionality and possible World Community Grid integration.

---

That is all for this week. Good things come to those who wait.

Oh, wait...

https://simcoin.info/img/good_things.png (https://simcoin.info/img/good_things.png)

:)

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:30:16 pm
I've got another question. I invested 2 btc and thinking about investing more, but since there will be no refunds under no circumstances I wanted to clear something up first.

Let's imagine the worst scenario when you won't be able to create a coin with 1 sec tx confirmations. Will you postpone launch for a couple of years untill you figue out how to achive the goal or abandon the project or launch it anyway and try to improve it with time?

I would advise you against investing more. 2 BTC is a pretty big stake, it's 7 million right now, so if Simcoin succeeds you will get a very good ROI already.

But it can also fail, simply because there's just so many things that can go wrong. 9 out of 10 startups fail. And by that time we might burn through most of the funds.

So it's still a gamble and the good old rule still applies - don't invest more than you can afford to lose.


To answer your question: if my goal of <1 sec confirmations turns out to be infeasible, I will just copy Ripple's consensus one-to-one, but without all the complexity. So it will still be pretty darn close to real-time, compared to 1 minute blocks.

1 sec confirmations is also not the only (https://simcoin.info/wiki/Features) good feature of Simcoin. I hope to create a solid, yet simple platform. And there are also more exciting ideas that I haven't announced yet ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:30:58 pm
<3 sec would be fine ;)   1sec isn´t necessary. Priority should be "solid, yet simple platform."

I know it's Ok, but the goal should be higher, so when all the complexities of real life kick in, like DDoS attempts, some nodes being less powerful, sudden bursts of activity, network jams, etc. it can still perform in 1-5 sec range, i.e. worst case scenario.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:34:40 pm
This coin will be launched any day between now and August 2038. And nobody knows what exchanges will be operating those days.

Good one ;D

@CECVW: There is no estimate, it's notoriously hard to estimate software projects.

And even if there was one, I wouldn't publish it until the IPO is closed.

Which will happen any day between now and August 2038 :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:35:01 pm
I wonder if we can reach 500 BTC...

I mean, boats are fun, but one needs a land dwelling too.

This one looks nice:

(https://simcoin.info/img/burj.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:35:24 pm
It seems our tentacle overlord did not appreciate my opinion about the inappropriateness of the tower. Praise you, oh tentacle overlord, the tower shall be your home!

You were referring to me? Why the hell am I "tentacle overlord"?

I mean, I am Ok with "overlord", but why tentacles?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:36:18 pm
The ingenious madness. Cthulhu fhtagn, oh spikey tentacle overlord!

Ingenious, huh... I like it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:37:47 pm
Is there now a serious IPO-end ? Its so interesting except that joke about the year 2038 - I mean I would like to have my Porsche before that date  ;D

What joke?

Don't worry, you'll get your flying Porsche.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:39:05 pm
I'm in

I guess promising flying Porsches could really sell a coin, huh?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:39:37 pm
Distribution update

(https://simcoin.info/img/distribution-05-25.png)

188 investors with 125.653 BTC.
 
Top 10 accounts own 22.91%, compared to 23.38% on May 18.


Notice

People seem to be gaining confidence in Simcoin in the last couple of weeks. Let me remind you that this confidence is mostly based on nothing.

I am just a stranger on the Internet who could run away with your money any day. And even if I didn't, 9 out of 10 startups fail, this means the probability that Simcoin will fail is 90% (!).

There is no product yet. The server can't do a single transaction at this stage. I am the only core developer and I work rather slowly, the summer heat isn't helping either.

So I still encourage you to invest, but since this is such a gamble, invest only a small amount that you can easily afford to lose.

I also decided to suspend all progress reports until the IPO is closed.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:42:36 pm
This seems a bit like reverse psychology, the more you say it, the more they invest.  ;)

This is the best job I ever had.

You go on a forum, write a couple of posts a day and people just send you money. Fantastic!

Come on, send me MOAR!!!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:42:44 pm
Oh, you gotta be kidding me!!! 3 BTC? Really?!

I should have been a scammer... Is it too late to switch careers?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:43:03 pm
Told you.
...
Take responsibility and make things right, you can still do it. ;)

Yeah, I bet it was you, just to make a point :)

Where did sussex go? I need 10 more "Simcoin is scam!!!" topics, stat.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:43:24 pm
Don't worry, I'm here.....

https://bitcointalk.org/index.php?topic=588109.msg6936462#msg6936462

 :-*

Oh, thank god! Without your efforts this started to look like a real project!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:43:50 pm
Latest NXT fiasco, just wow.

People are sending private messages to each other, thinking they are encrypted, and they are not.

This is what happens when you don't think things through and just trow them in the pile.

I am sure it will be fixed in the next version of clients, but for christ sake...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:47:11 pm
Oh yeah, it's hilarious :D

In case someone doesn't understand what we're talking about http://nextblocks.info/#section/blockexplorer_messages (http://nextblocks.info/#section/blockexplorer_messages)

And that's why all messages in Simcoin will be encrypted from the start, by default, always.

Such a blunder...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:49:37 pm
I love this one the best

Quote
9835637320256749492   NXT-3D7E-TMVY-ZL8K-EFBT6   NXT-RMJ5-9QUC-QSBY-92XWK   

Hey Stephanie :) I see you are holding on to those coinz! :D Nice! He re a fully encrypted message from me to you. You can share all your pr ivate details here as no one, even the NSA, can see this but me! ;) O h, and send me a message back so that your account did at least one ou tgoing transaction, that way it becomes more secure. Nice to meet in c ryptospace :)   

And the whole world :)

;D

Well, there is a bit of blame on those people too, of course. One should be more paranoid and double check things like that. But part of the blame goes to system designers.

For Simcoin, one of my earlier designs allowed a sniffer to identify sender's account used for packet encryption.

Well, I thought, I'll be lazy and let users create a separate account just for communication. Problem solved! Less work for me.

But then I thought: come on! How many people will bother to actually do it? They will assume the system is secure by default and use their primary account.

So I went back to the drawing board and redesigned it. Now packets look like random noise and should not reveal any information at all.

We can't rely on our users to be cryptoexperts unfortunately.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:50:44 pm
...and in fact, they are purposefully (by default) made to be non-encrypted so people can choose use to use their own encryption. As an example, the internet is not encrypted by default as well - encryption is built on-top of it.

Default encryption doesn't prevent you from adding your own layer of encryption on top of it, if you need it.

People can use encryption for their emails. Any one they prefer. How many actually do it?

The beauty of a built-in default encryption is that, as a user, I don't have to worry about anything. I don't even need to generate keys and do all the other setup tasks, like for PGP.

And another blessing is compatibility. When you have one, strong encryption for everybody - it's good. When you have to use different encryption schemes for each of your recipients - not so much...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:51:41 pm
So clearly you have more than 100 BTC invested, why are you keeping 20% of the total currency for yourself?

20% is a lot

I am still amused by the people who think 130 BTC is a lot of money.

Sure, if I were a scammer, 130 BTC would be a lot for a few weeks of work.

But what if it's a real project? In that case it's a pittance. Do you know how much it would cost to send just one guy to just one conference? Especially if he doesn't go empty-handed? Or buy a radio spot?

How much MaidSafe raised recently? 6 million dollars? And even that is not much, considering they have a whole team of people.

130 BTC is nothing.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 09, 2015, 11:52:38 pm
OP needs to be more humble imo. The position he is in has clearly gone to his head.

Humble has nothing to do with it.

Yes, it will take some time, but what's the alternative? Design by a committee?

The core must be implemented by a single person, adding more people will just slow things down, because now I will have to do the work with somebody else's hands.

Imagine a surgeon or a pilot trying to work like that. It's possible, but they are better off doing the job themselves. There are no shortcuts here.

Time is needed to be thorough, there is no silver bullet. The work simply needs to be done and skipping it will give us the same frankencoin most other coins are - a bunch of components and libraries thrown together in a hurry.

No, thank you.

----

The usual approach is to release quickly, hype it, and then keep hard-forking and patching it for a year.

I'd rather work for a year and then release something more or less complete.

Yes, that takes some balls. On both my part and yours.



P.S. How's that for humble  ;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:38:46 pm
When trying to find a suitable, LONG TERM, name you should consider: it best have a meaning, should be easy to pronounce in most languages, easy to remember and in best case, no association with other words or bad feelings.

Except "association with other", Simcoin satisfies all of them :)

Honestly, I don't think names are all that important. That's another kind of bikeshed issue.

Language is flexible, I posted examples before. The essence is what's important.

If people can use Rechtsschutzversicherungsgesellschaften, they can use Simcoin :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:39:28 pm
It would be like "simple pc security" or "simple online bank".

What's wrong with "simple pc security" or "simple online bank"?!

Do you think those things need to be complicated to work?

I can imagine a SIMCARD...

I can imagine Simcoin Card. I can imagine SimPlastic. I can imagine Simchip.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:41:27 pm
...and in fact, they are purposefully (by default) made to be non-encrypted so people can choose use to use their own encryption. As an example, the internet is not encrypted by default as well - encryption is built on-top of it.

Default encryption doesn't prevent you from adding your own layer of encryption on top of it, if you need it.

People can use encryption for their emails. Any one they prefer. How many actually do it?

The beauty of a built-in default encryption is that, as a user, I don't have to worry about anything. I don't even need to generate keys and do all the other setup tasks, like for PGP.

And another blessing is compatibility. When you have one, strong encryption for everybody - it's good. When you have to use different encryption schemes for each of your recipients - not so much...



This is easy enough to include in clients. In fact, I'll eat my hat if there isn't a client that let's users check a little box (or equivalent) to encrypt their message.

What are you talking about?

What a checkbox has to do with anything ???

Yeah, let's add a checkbox, so they had a chance to forget encrypting an important message.

(https://simcoin.info/img/good_thinking.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:42:35 pm
Then let it be enabled by default in the client?

Or... or... we could remove the freaking checkbox and just encrypt it by default.


All I'm saying is that encryption doesn't have to be built-in to the protocol itself.

Why not?

Checksums should not be in protocol - it's clients' job. Encryption should not be in protocol - it's clients' job. What is it with this attitude in NXT?

Too many things are afterthought patches, that's why they are in clients, where they don't belong. And that's what upsets me.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:43:46 pm
I am certainly not gonna hire a branding agency on a budget of 140 BTC. Why don't I go buy a couple of Aeron chairs while I'm at it? :)

To the dev: i have a potential idea regarding the "free" distribution. Would it be technically possible to create a cellphone payment gateway and distribute coins that way? This way people still have to pay a bit via sms/fixed call (giving away free money isn't very serious and bad for the exchange rate) and its potentially easily adopted all over the world. This way SIMcoin would make a lot more sense too. Again, who am i..... Just an idea.

It's an interesting idea. Anyone feeling like doing a research on it? :)

What services are available, how well they work with different countries, how much does it cost.

Also, this will probably require a real identity, so somebody will have to setup it on my behalf.

And it probably makes more sense to integrate this with a mobile wallet, so when you first install it, you will have an option to convert a small amount of real money into some simcoins to play with.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:44:36 pm
Anybody like cashcoin?

Just try to say Simcoin quickly 10 times in a row and then try the same with Cashcoin. You'll see the difference.

Besides, it's just too confusing because it links two well-known items that belong to the same group - cash and coins.

When you use "coin" separately, it is now firmly owned by "cryptocurrency" (or will be owned, anyway).

When you add "cash" to it, you switch back to the original meaning and the whole name becomes "whaaaa?".
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:45:31 pm
I don't know what is wrong with people but when it comes to naming and design every fucking asshole is trying to realize his design ambitions.

Bikeshed (http://en.wikipedia.org/wiki/Parkinson's_law_of_triviality). Not many are able to discuss key stretching (https://simcoin.info/wiki/Key_Stretching), for example, but everyone has an opinion about a name or logo colors :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:45:57 pm
Wow, the first day without a single deposit :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:47:13 pm
(https://simcoin.info/img/porsche1.jpg)
Thank you, Internet, you big garbage dump!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:47:52 pm
Finally! You've got me worried there for a moment...

I even made a working prototype:

(https://simcoin.info/img/porsche2.jpg)

Technically, it's flying.

Now give me more money!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:48:26 pm
Distribution update

(https://simcoin.info/img/distribution-06-01.png)

206 investors with 140.927 BTC.
 
Top 10 accounts own 20.98%, compared to 22.91% on May 25.

Deposits

(https://simcoin.info/img/deposits-06-01.png)

(https://simcoin.info/img/energizer.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:51:34 pm
What about sybil attacks?

It seems people mean a bit different things here, when they talk about Sybil attacks.

As is, it doesn't apply to PoS systems: you can create fake nodes, but you can't convince the network that those nodes own real money unless you have valid private keys.

This means those nodes have no stake = no voice. The whole point of PoS is to protect against such attacks.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:52:38 pm
If someone is already in the system and has 10000 sim. He then goes on and creates 10000 "fake" nodes, all with one Sim in them. How are cases like this handled?
Also, what keeps those nodes behaving in a malicious way like fast building an alternate Blockchain they all vote on?
What cost are involved for a node if it casts a vote for the next block?

There will be no blocks or blockchain, but I see your point. This is exactly what I am working on right now - finalizing how consensus will work.

I'd like to discuss it, but unfortunately can't reveal it just yet - this is the core of the system, I need to protect you, as investors, from clones until Simcoin is released.

Once it's working on the Test Net we can discuss how to improve it further.

...in which only nodes count...

That's not PoS then, is it? :) That's failure.

Basic idea will be the same - to subvert the system you will need the majority of stake.

I am working on the details (in fact just spent most of my working hours today thinking about it) since I am close to testing first transactions.

The problem gets even more complicated when you factor in the possibility of DDoS attacks, as well as several other issues.

I am trying my best to find an optimal solution...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:53:44 pm
Did you consider keeping part of the project closed source?

Well, I have to take clones into consideration, that's for sure. At first I planned to put as much info on the wiki as possible, but then looked at the current altcoin scene and changed my mind.

Open source is great, but when it comes to dealing with money it results in a lot of harmful noise and confusion.

And it would be ridiculous if your ideas appeared in some scam coin first: not only you would look like a copycat later, but the users would now have strong negative emotions attached to these ideas!

So if anyone has any thoughts about how to protect against scam-clones, I'd like to hear it.

No solution seems good: traps in code, delay source code release by a version or two, keeping a part closed, they are all bad... :(
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:54:27 pm
This has some downsides to it as well of course. Beginning with the additional two fold work and surely a lot more.

All these solutions have one major drawback - they erode confidence.

Open source protects users. Limiting it requires more trust in developers and they already have way too much power...

---

@onemorebtc: yeah, like scam-clones are gonna respect the license :)

What's next, patenting my algorithms? ;D

If a clone ever gets to a point where you can sue them, then you have no moral right to do so - it's a legitimate clone, this should be allowed.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:55:45 pm
(http://imgs.xkcd.com/comics/shouldnt_be_hard.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 10, 2015, 10:57:17 pm
...Preferrably a paid expert...

I was always against paying somebody to review your system. For arguments you can dig up the old NXT topic :)

Basically, it's wrong to pay someone to rate you, the recent banking crisis is a good example.

It's Ok to hire a company to do an internal audit for you, but not Ok to pay somebody to vouch for you publicly.


Nevertheless, I think an approach like this might offer the option of gaining a significant lead without disclosing the sourcecode.

It all depends on how awesome Simcoin will be and nobody knows that, including me.

We just have to wait and see how badly people want the darn thing :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:52:23 am
(http://imgs.xkcd.com/comics/haskell.png)

;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:53:04 am
If they would only rate in "this makes money / this definitely will not make money" it could be compared. But it's apples and oranges.

"subprime mortgages will definitely make money!"

Good enough comparison for you? ;D

Anyway, let's not start that whole argument all over again...

The worst case scenario is keeping the source closed and doing nothing anyway. Same goes for simply open source. Right now cryptoworld is just not the enviroment you want to release new code to.

The best option seems to delay opening the source and try to gain as much lead as we can. If Simcoin will be any good, it won't be hard :)

I think releasing the NXT source a month earlier was a mistake. We can probably delay it longer and get away with it.

NXT just started to look good enough, so it as well could have been a test net up until now...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:53:21 am
(https://simcoin.info/img/balloons.png)

Woo-hoo! I've just added a new account all the way from the client, through consensus of 4 nodes and into the ledger database in each one of them!

Now all I have to do is basically add various types of transactions.

Well, not that simple, of course, the devil is in the thousand tiny details, but still, I am happy that the core mechanics is now working!

(By the way, it's my 59th coding day).
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:53:44 am
Woo-hoo! I've just added a new account all the way from the client, through consensus of 4 nodes and into the ledger database in each one of them!

This is how it looked:

(https://simcoin.info/img/4_nodes.png)

Humble beginnings ;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:55:33 am
On a more serious note. You said before that you may be using a consensus system similar to ripple in an effort to achieve instant transaction times. If this is the case why are you worried about other coins?

Well, for one, instant transactions is not such a killer feature in itself. In many cases users are quite alright with waiting 30 sec for confirmations. Besides, NXT might actually make something working, who knows, they have plans for "instant" transactions too. I am skeptical, but that doesn't mean they can't do it.

Copycats take all your work in an instant, so they immediately negate any technological lead you have. And investors don't mind jumping from coin to coin. How many here hold both NXT and NEM?

So with copycats, it's difficult to retain any lead you might have. Our species likes everything new just because it's new.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:55:59 am
Here's a bigger picture for you :)

(https://simcoin.info/img/sim_cons1.jpg)

I've just copied current consensus mechanism into the simulator and this is the very first, unoptimised result on a rather "bad" network with "slow" nodes.

Look at the time! Under 1 sec, as promised ;D

(Might upload a video later, if I decide this is not too revealing...)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:56:41 am
5% packets lost. Is that bad?

This is a network parameter. Considering that we are talking links between servers, I'd say this is a pretty "bad" network. 50 msec jitter is not particularly nice either.

Also here all the nodes are randomly distributed across all continents, in reality they will be clustered much closer, many inside the same data centers with 1 Gbps links between them, so it will be significantly better.

To answer your question: the fact that it performs well under such adverse conditions is good.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:57:20 am
I see a node 500 miles south west off the coast of Cape Town. No islands in sight so I think NxtChg just accidentally gave away the location of his hidden subterranean headquarters.

That's where my boat is currently moored :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:57:50 am
Wow, one of the first things BCNext released was also an address gen! :)

I created a small program for address generation.  https://mega.co.nz/#!94IETDZL!FRbFAnAi4uu4G5dh6HUSvmHfgK5GXKsh4NWdgY2avJ0 (https://mega.co.nz/#!94IETDZL!FRbFAnAi4uu4G5dh6HUSvmHfgK5GXKsh4NWdgY2avJ0)
...
While you are waiting for the release you can try to generate a short memorable address ;)

Did not know that...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:58:16 am
I decided to use Ed25519 (http://ed25519.cr.yp.to/) instead of the standard Java ECDSA.

More and more interesting... What happened along the way that made him switch to Curve25519 instead?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:59:35 am
Simcoin distribution vs NXT:

(https://simcoin.info/img/sim-vs-nxt-06-01.png)

Anybody knows why the top account owns 17%? Is it a special account or a really big whale? Currently it's more than 3 times off the chart...

With that huge account included the top 10 accounts owned 60.4% of all coins.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 10:59:43 am
The 17% account held the coins that were not claimed on the day of the launch. Basically investors that were not online and submitted a NXT address to BCnext. Most of them received their NXT in the following days.

That's what I suspected...

I also like it when people quote pictures. What a nice way to say to all your readers: "See how little I care about you? Because I couldn't be bothered to spend 2 seconds to remove that pic, now each and every one of you have to skip over it, suckers!"

Very simple and effective, indeed.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:00:57 am
Well given the number of deranged idiots on this forum, I guess a deranged genius will at least make for interesting reading.

Such spirit. I wager fifteen quatloos that he is untrainable.

Uhm... thanks for you support? :-\

I bet all the monkeys were laughing their asses off, too, at that one who decided to come down.

Right until he picked up a huge stick off the ground and beat the shit out of them.

So, enjoy your comfort up there. For now.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:01:15 am
Oh I'm in for the IPO, so I'm not quite remaining up in the canopy. It's dull up there, far more interesting watching you choosing sticks.

Ah, so you're an early adopter of The Huge Stick...

Well, deranged genius is not such a bad title.

"Oh, Tentacle Overlord, The Deranged Genius of The Abyss, we call upon your name!"

Sounds nice.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:01:52 am
Tentacle Overlord, The Deranged Genius of The Abyss
And now you're officially named after a random bossmob from Diablo 2

Beats "King of Bitcoin", doesn't it? I mean, talk about lack of imagination...

All I need now is to figure out where to put "Galactic" in there and I'm all set.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:02:23 am
On a less serious note: I managed to shave 100 msec off the consensus time today, just be realizing that I was being stupid.

It's both best and worst kind of optimization.

Best, because you don't have to do much. Worst, because you are reminded how dumb you actually are...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:04:02 am
I have currently 430 closed items in my To-do list.

This means that on average I am able to do about 7 things per day.

And yes, you are right, they do look a lot like this:


Go to bed. Wake up. Repeat.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:04:31 am
(https://simcoin.info/img/lcffphu.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:04:58 am
It looks like the IPO has closed itself, so let’s make it official:

THE IPO IS CLOSED

This is how I imagine many investors now:

(https://simcoin.info/img/brad-pitt.gif)

Thank you to those who haven’t complained once about the IPO length.

I know you are taking huge risks here and I will try my best to make it worthwhile.

The exchange will be open in a few weeks. I will also resume weekly progress reports, starting tomorrow.

(https://simcoin.info/img/4_years.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:04:19 pm
Of course I did. I just wanted to throw some more fresh earned BTC at nothing.

Yeah, well, I was "earning" 2.4 BTC per day while the IPO was open, so...

You can't allow greed to guide your actions ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:06:06 pm
Is the Nothing at Stake attack relevant for Simcoin? If yes, how do you plan to solve it?

I don't follow n@s arguments too closely, but from what I can tell the problem stems from the same BCNext blunder I've already pointed out: using PoW atavism - the blockchain - for a PoS coin. Sure, it's much easier to program, but, as we can see, gives you a lot of problems down the road.

People worry that since the blockchain is not protected with PoW, an attacker could generate an alternative chain by buying old private keys and then present this chain to the network as a better alternative.

Information about how exactly NXT forging works is very confusing and scattered across multiple forum posts, so I can't tell whether such attack is viable, but seeing this new talk about Economic Clustering (???), the threat might be real.

In Simcoin there will be no blockchain, so old private keys are useless. To make any changes you need to own the majority of stake in the present.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:08:03 pm
So, you probably noticed already that the IPO is closed.

I think if I kept it open any longer one of the investors would order a hit on me :)

Final distribution

(https://simcoin.info/img/sim-vs-nxt-06-08-final.png)

210 investors with 143.206 BTC.
 
Top 10 accounts own 20.63%, compared to 20.98% on June 1.

Deposits

(https://simcoin.info/img/deposits-06-08-final.png)

Progress report May 18 – June 7

This project is significantly hampered by lots of cows farting all over the world. Could someone please tell them not to?

Otherwise, I am about to forfeit my helipadded boat for 20 ice cream trucks...

Still, I've managed to do a bit of work:

- working on database format for the ledger, significantly reduced the size
- packet encryption updated once again :-)
- detecting ini file changes and reloading it automatically on nodes (a special task for that)
- two time classes based on QueryPerformanceCounter()
- split the client into core dll and shell exe
- working on client auto-update with fsonex
- developing task handling: incoming packets processing and wake up on time intervals, adding/killing, etc.
- setup 4 local nodes to test the network
- request tracking
- JS API extended: reg_account(),get_progess(), kill_task()
- working on consensus
- 2 ping tasks
- 3 account registration tasks (2 for nodes, 1 for client)
- New Account request format, 2 PoW’s for spam protection, second layer encryption, verification.
- simple progress dialog in the client, account registration
- network simulator updated to use consensus, did some tests with various parameters.

This is just a high-level overview. In reality it was 185 closed to-do items :)


(https://simcoin.info/img/porsche3.jpg)

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:10:18 pm
Some more stats:

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:11:13 pm
NxtChg  just one question out of curiosity, how can you work on coding Sim if you are here all the time answering the questions? :)

I am one hell of a multitasker :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 11, 2015, 11:13:29 pm
Maybe we should make a to-do list?
Mark out which parts you can do yourself, which parts need someone with professional skills, which parts need the help of community.

Well, the plan is simple - I will work on things that cannot be outsourced and outsource everything else (assuming I am able to find skilled people who can also tolerate my obsession with details).

I should probably start a separate thread to keep track of all the bounties, here's just stuff off the top of my head:

We will need:

Throw more stuff at me, I will edit this post.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:17:43 pm
Cross-post from https://simcoin.info/wiki/Node_Rewards

Node Rewards Proposal

Since there is no blockchain in Simcoin, there is no easy way to reward nodes.

I would like for them to be rewarded by transaction fees, but so far was unable to find a satisfactory solution.

My current idea is a separate piece of software that will monitor the network and reward nodes randomly if they are online.

Advantages:

* Much simpler core code, no need for complicated fee processing.

* Only nodes that are verified to act as decent members are rewarded (i.e. you cannot just create dead nodes and expect to be rewarded). The tool will use various metrics to make sure nodes are decent. This has nothing to do with consensus, it's only for reward. For example, ping should be low enough, uptime is good, etc. The reward will be proportional to node's stake and services provided.

* We can distribute significant part of 60% this way and it will be similar to Bitcoin's mining - a slow, inflationary increase in money supply for the next few years in line with demand.

* It allows to regulate network size and this is important. For Simcoin to keep its performance promises, the number of nodes should be reasonable (i.e. not everybody can be a "miner"). Something like 1000 active nodes. So by adjusting daily rewards we can regulate how profitable it is to run a node and thus regulate the size of the network.

* It allows to keep transaction fees very low, which is good for wider adoption and also makes them less vulnerable to price volatility.


This software can be run by anyone who wants to support the network, but will probably be run mostly by me and later by something like Simcoin Foundation, which will receive part of transaction fees to support the network.

We can also use Account Control feature to allow only limited amount of money to be spent on rewards daily and make it so that it can only be spent on nodes.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:21:57 pm
How to do that in a decentralised trustless manner?

I don't know, I haven't found a good solution yet, so at this point it requires something like Simcoin Foundation.

But we can limit their powers significantly, so it can even be replaced if users vote so.

During the initial distribution some trust will be required. First, in me (I already control that share, so it's not a big problem), then in a trusted committee/foundation.

Once the initial supply is distributed the foundation will only live on fees and can be controlled by end-users.

Plus some stakeholders/services can run their own copies and support the network at least in part.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:24:13 pm
What will determin, which nodes will get a reward? Completly random is gameable by setting up loads of fake nodes.

"Proportional to stake" solves this problem. It will also probably cost money to activate a node account.

Is it possible to test a node and see if it actually helps to secure the network, by letting it process a test transaction/block? Is it possible to record how long a node has been active?

Yes, that's the point of this tool. It will monitor nodes and if they are dead for too long or have poor performance - decrease or eliminate reward.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:25:49 pm
NxtChg, I understand this isn't entirely OT, but apparently somebody ate a 10ft white shark the other day:

I can neither confirm, nor deny this.

*burp*
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:27:32 pm
Very good post about why a dedicated and qualified committee is important for any crypto success, based on NXT example:
https://bitcointalk.org/index.php?topic=528023.msg7245897#msg7245897

While it probably obvious to most of the participants here, I still recommend giving a look.

Can you give concrete examples of how exactly committees led to NXT success? Because I don't remember any.

(https://simcoin.info/img/dictator.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:28:55 pm
my friends said the coin will be bery good.they said  sim will be generation 3 coin.

I remember what people's "friends" used to tell them while the IPO was still open: "don't invest, it's a scam".

Now they're saying it's 3rd gen?!  ;D

(https://simcoin.info/img/escalated.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:31:01 pm
I still remember your exchange with its pathetic fixed 6 digit number password

I kindly ask you to stay away from this topic. Otherwise you will be reported.

You're an idiot and idiots are not welcomed here.

The password was 8 mixed-case characters + digits. That's 218,340,105,584,896 combinations.

If that password is pathetic - go and bruteforce it over the network, moron.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:31:48 pm
I will be back in from 30 minutes to 3 hours.  ;D ;) :D :) >:( I hate this pathetic brag so much.

That's for moderators too.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:32:28 pm
Ok, I will do it only once.

Not for you, ghosthouse, you are too stupid to understand, but for somebody who might read this crap somewhere else and starts to wonder...

I  still remember your exchange with its pathetic fixed 8 digit number password

8 mixed-case characters plus digits give you 218,340,105,584,896 (218 trillion) combinations, it is absolutely infeasible to brute force it over the network.

Only an imbecile, who thinks increasing a password by 2 symbols makes it 30% stronger, when in reality it makes it 3,844 times stronger = 384,400%, would call this password "pathetic".

Go back to school, kid, learn to count.

and no automaton whatsoever (after months of running).

Care to show what you have done in life? Have you built a highly-automated exchange in a few months, while simultaneously working on many other things?

You didn't have anything significant or useful to contribute to Nxt source-code discussion which last for months .

You are too dumb to understand. You can't even count. You think 143 BTC is "close to 200"!

Judging by what people say and by how much money I was able to raise without an escrow, I think they remember me a bit differently.

The Reed Solomon format was made first by Ricot, then you made a small improvement and claimed your own.

I never once claimed it as my own idea. Others might have attributed it to me, that's their problem. (My idea was to use simpler, MD5-based checksums).

"small improvement", huh. What pieces of your code are included into NXT, NEM and all the other NXT clones?

prolonged idiotic debates with jl777 and everyone else in Nxt land.

As I said, and this is a good example, when you are dumb, smart people's discussions seems 'idiotic' to you.


Now leave me alone, retard. You don't matter.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:33:32 pm
Check out Slack:
https://slack.com/

SyRenity, you stick around.

I owe you twice now :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:34:31 pm
* Setting up a proper voting process (I recall how many pages were spent on that, but since then the voting seems to work as planned)

I recall how each of these ideas was voted, then assigned to one of committee members, which was responsible for the delivery of the said idea. The impressive part was how quickly and efficiently these ideas were executed.

That must have happened after I left.

But the voting problems were precisely caused by the lack of leadership!

* Hiring additional developers to work on NXT wallets and extensions (resulting in one of best looking web wallets out there)
* Launching the first multi-pool
* Establishing a brand - professional video clip (better then BTC on my test), media print-outs, etc...

Wesley and other devs started working on their clients long before committees.

And when it comes to financing, committees have no advantages over a single person, but many drawbacks:

* Slowness.
* Lack of integrity.
* The kind of people who end-up on committees are usually the people who should not be on those committees. And people who should, aren't.
* Horizontal structure makes everybody expect equal treatment of their ideas. This makes whatever they produce a horrible, bloated mess of politics and compromise.

(https://simcoin.info/img/committee.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:34:56 pm
nothing will get done in a reasonable time-frame

There are many other coins to produce crap fast.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:35:18 pm
To close the day on a positive note:

There is a difference between philosophical ramblings and practical realities of life.

I am sure we will be able to build an efficient and flexible structure, if we just follow common sense and keep idiots away :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:36:57 pm
Quote from: ghosthousevsNxtChg
REPOST to nxtChg. Face the truth.

I still remember your exchange with its pathetic fixed 8 digit number password and no automaton whatsoever (after months of running). You didn't have anything significant or useful to contribute to Nxt source-code discussion which last for months . The Reed Solomon format was made first by Ricot, then you made a small improvement and claimed your own. Is that about the summary of all you have done ?

Well an anonymous dev. does not have a track record but you have and it is nothing of significance except some prolonged idiotic debates with jl777 and everyone else in Nxt land.

Now I will re-post this every 2 hour as long as this thread open so your "investors" can know that the most notable thing about you is not about coding or math skill (average
at best - (who built an exchange with a pathetic fixed 8 digit number password Huh) but the idiotic ego and the likely intention to scam (you yourself know full well that you don't have the skill but still take in close to 200 BTC).

Now delete this post but remember this post will never go away because it is the truth. Let's the public read and decide.

I am so angry with this pathetic attempt to deceive the non technical public.

Quote from: utopianfuture
I hate the abusive brag who delete my posts. If he stop deleting, I will stop posting.

So, your real name is utopianfuture.

https://bitcointa.lk/threads/ann-sim-simcoin-a-simple-coin.296182/page-64

How interesting.

I remember, you sent those retarded PM's to me with various ideas, which I rejected. Now you hate me.

I knew you were stupid then, you just proved you are fully retarded.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:41:55 pm
I see Opticalcarrier is on the NEM team... No surprise there. Maybe he is a sockpuppet too... They both hate me so much ;D

--

So the guy, who started a coin, thinks increasing a 6-character password by two symbols makes it only 30% stronger.

Thinks it's feasible to brute-force a password with 218 trillion combinations over the network.

Thinks 143 BTC is "close to 200".

Uses sockpuppets.

Instead of working, keeps re-posting stupid and insulting posts into another coin thread.

Do you feel like selling yet? :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:46:15 pm
I was one of the first to know that he will launch a new NXT CLONE - I did not invest.
I had a feeling that something does not feel right about UF...

Precisely why I didn't invest in NEM too and never paid attention to it :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:46:56 pm
There is a proposal for Simcoin logo:

(https://simcoin.info/img/sim_small_round.png)

It's nice, but it looks familiar. Anybody recognizes it?

There are so many logos, that whatever you create, somebody's probably already using something similar :)

So if anyone knows if it's already taken - please let us know.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 19, 2015, 11:47:46 pm
Progress report

Coding work:
- converted both JS NxtAddress versions into Simcoin format. + test.php and tested 1000 addresses in JS.
- added send_money() to JS API, but there are no tasks for it yet
- test client: account page, enter on account selection.
- test client: "send money" dialog started.

Rest of the week was spent on managing things, setting up Slack and invitation system for it, and converting the exchange.

The Simcoin exchange is basically ready, we were testing it yesterday.

At some point during the testing, I noticed that total BTC balance started to increase. What the... Do I have a money leak in my code? That's much worse than a memory leak!

For 20 minutes I was furiously trying to find the bug – where, where, where?

Then I received a strange PM:

Quote
i want to know the meam of "TEST MODE". is't it true?

and realized some idiot was depositing real money into a test exchange!

He must have found the link in the Trello task, ignored that the task is not finished, ignored that there was no announcement for the exchange, ignored big red ">>> TEST MODE <<<" letters on the homepage, ignored ridiculous test orders in the order book, deposited and started trading, thinking he is buying simcoins for real at 0.00000021 when the IPO was closed at 0.00000036 :D

In a rush, he deposited 4 times, buying more and more monopoly simcoins...


Indeed, never a dull moment in the crypto land :)

That’s why the Trello board is currently hidden.


(https://simcoin.info/img/full_retard.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:16:51 pm
Simcoin Exchange Announcement

Although Simcoin is nowhere near finished, many people still want to trade it.

That's why we are opening a SIM/BTC exchange today.

https://simxchg.com

If you are an investor – use your IPO account ID and password to login. If not – register a new account.

Trading will start on Wednesday, June 18, so you have enough time to deposit your bitcoins and prepare for it. Time will be announced later, but probably 3 or 4 PM UTC.

For investors: your simcoin balance will be 0 right until the trading starts.

Since Simcoin is not finished yet, you cannot withdraw it: all simcoins will remain inside the exchange for now.

Bitcoin deposits are automatic, withdrawals are manual for security reasons – there is no Bitcoin wallet on the server, so be patient.

(https://simcoin.info/img/to_the_moon.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:26:18 pm
Hi NxtChg , I hope I am not impertinent , but why do you promote another coin that is not sim here by giving the thread of Crypti?

I do not see coins as competitors. I think we're all in this together against banks and governments.

It's the clones that I don't like. Any original coins should be welcomed.

Crypti has similar slogan to Simcoin: "Simple. Fast. Scalable." It's interesting to see what they will be able to create.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:26:55 pm
Distribution update

(https://simcoin.info/img/sim-vs-nxt-06-22.png)

242 accounts own simcoins now vs 210 after the IPO.

Top 10 accounts own 20.51% vs 20.65%.

Progress report

As you know, the exchange is operational, now I'm back to writing code.

Here's a new version of the test client:

https://simcoin.info/simcoin_v04.zip

Sending money is not finished, because I realized that some of my troubles with code stem from the lack of clarity about bootstrapping and info requests. Need to do more thinking and finish that part before doing transactions.

So the only thing it does is registers new accounts on the network with full consensus. There are currently 4 nodes running on 2 servers (one in US, one in Switzerland).

Click on "Create New Account" and then "Register". The network part happens after "generating" at 60% progress ("waiting for responses"). There's a chance you won't even see it – that's how fast it is :)

Not much to look at, but I thought you, guys, need to see something tangible.

---

gstarcev is working on the voting system bounty (https://bitcointalk.org/index.php?topic=645679) and though he doesn't have much free time, I am happy with the steady progress.

A logo contest will probably be announced soon, so stay tuned.
 
---

Also, the exchange still takes some of my time for withdrawals and user support, so:


(https://simcoin.info/img/passwords_sm.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:29:20 pm
No important reason
I just wanted to check out the gui

It's an embedded browser, so you can do anything that HTML allows and skin it however you like.

Right now it's just some very basic pages and buttons, like this:

(https://simcoin.info/img/create_account_screen.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:30:29 pm
The credits coin also claims that it will not use blockchain and will have instance comfirmation - https://bitcointalk.org/index.php?topic=614917.0

Is credits a similar crypto as Simcoin?

Yes, I know about it. Nice to see people moving in that direction.

Also interesting to see if he will be able to come up with a working concept. The one described is not scalable beyond toy level.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:30:44 pm
Distribution update

Previous distribution update was incorrect, because I foolishly forgot to include simcoins in the order book.

This is the correct version, the changes are less dramatic:

(https://simcoin.info/img/sim-vs-nxt-06-29.png)

251 accounts own simcoins now vs 210 after the IPO.

Also, if you take open orders into consideration, the top 10 accounts now own more: 21.12% vs 20.65%.

Most of it thanks to the very top account, which now owns 11.9 M. If we count accounts 2-11 we will get 19.88% vs 19.95% after the IPO.

Progress report

This week was spent trying to solve the bootstrapping problem: bringing new nodes and the nodes that were offline up to speed. I kinda left a white spot there, thinking it won't be too difficult, but when you don't have a blockchain, it is.

So I kept reading papers and thinking the whole week, trying to find an efficient solution and not give up and settle for something subpar.

Wrote a couple of simple simulators to test various ideas. Yesterday I had a breakthrough and (hopefully) finally solved it, so now the road is open to finalizing the whole system design and returning back to writing code.

For now, no major unresolved issues remain. Doesn't mean there won't be any, of course, but so far everything looks clear.

---

Test nodes have been running for a week now, no crashes, no memory leak, it stays at the same 700 Kb. People registered 81 test accounts. The ledger is 24 Kb, but it doesn't mean each account takes 300 bytes because the database grows in pages.

---

Wrote a simple time sync simulator, because couldn't find anybody to do it as a bounty. Need more freelancers on stand-by. (You guys don't want to get paid or what?)

As always, if all nodes are honest – everything is perfect: https://simcoin.info/ts/ts.html

Possibility of an attack ruins it, but even with simple code modifications it seems possible to protect against malicious nodes trying to shift the network time: https://simcoin.info/ts2/ts.html

Plus I have more ideas up my sleeve about how to detect and discard outliers.

---

Nxtblg did a small experiment and issued 1 M simcoins as an asset on NXT Asset Exchange. It was quickly sold out and is now trading (http://nxtreporting.com/?as=17101280295378215963) at 23-35 NXT per thousand, i.e. about 270 satoshis vs 140-160 on simxchg.

---

gstarcev continues working on the voting system bounty (https://bitcointalk.org/index.php?topic=645679) and now is close to finishing it.

A logo contest will probably be announced soon, so stay tuned.
 
---

Now, that the path is clear:

(https://simcoin.info/img/start_writing.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:31:25 pm
I have  question as to the graph:
 Is the yellow line the 'corrected for order book' data?
Does this distribution graph include all Sim currency, or only the 40 $ for IPO? If it were the latter, is the comparison with NXT then accurate?

The yellow line is an exponential trend line for the current distribution.

The graph only includes 400 M distributed so far.

NXT is there just as a reference, its current distribution is significantly different, so it's not supposed to be an accurate comparison.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:33:00 pm
Nxtchg is more patient and loving of his people than I am. I would be like "Hey, I'm the genius around here and I don't have time to run this exchange anymore. I'm busy creating the best simple instant payment system for my future minions of earth to trade for trinkets and shiny baubles. If you don't like it too bad so sad."

grandpa_seth is hereby officially conjured to be utilized as my puny humans communicator.

Signed: The Overlord
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:33:38 pm
Distribution update

(https://simcoin.info/img/sim-vs-nxt-07-06.png)

256 accounts own simcoins now vs 210 after the IPO.

The top 10 accounts own 21.00% vs 21.12% a week before.

Progress report

Unfortunately, not much coding work this week due to constant exchange hosting troubles:
- Developing transaction queue class + unit test for it.
- Ledger DB updated, transactions table added. Integrity check code updated.
- New time sync algorithm, lots of tests in JS simulator. Got near perfect time sync even with attackers. 2 seconds sync range across the whole network without attackers. Current version: https://simcoin.info/ts8/ts.html
- Withdrawal fee support for the exchange.


(https://simcoin.info/img/coming.png)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:34:21 pm
Progress report

(https://simcoin.info/img/simba.jpg)

Solid coding week with less distractions:

- Exchange migrated once again.
- Setup hourly simxchg backup.
- Many more tests of JS time sync simulator. New algorithm. Two major bugs fixed.
- Time sync algorithm documented in wiki.
- Time sync queue + unit test for it.
- Added 2-byte timestamp delta into Pong request.
- Integrated time sync queue into the ping task.
- Tested randomized queue size for nodes - doesn't affect time sync at all.
- Tested timezone and DST change - none affects the timestamp.
- Ping measurement in Node class.
- Nodes::ping() to return total ping for all nodes for last N seconds.
- Client: net status panel.
- JS API: net_status(), acc_info() added.
- 3 Send Sim tasks started, developing money sending transaction, updating docs.

So, here’s the next version of the test client:

https://simcoin.info/simcoin_v051.zip

Create a couple of accounts and you can send money between them (transaction history is not yet displayed in the client).

Currently 5 nodes are running on 2 VPS'es: one in Portland, one in Switzerland.

Vault password is "123" if you need it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:35:22 pm
The transaction time will be faster when launch, right? Now, it is very fast, less than 3s, our target is less than 1s.

How do you measure 3 sec? It's actually well under 1 sec right now.

Able to run under Wine on Linux Mint.

Nice...

Status OK
ping 147

Created two accounts, each with the 100k coins.
Navigation between windows works, also opening vault with 123

Not able to transmit between accounts - "Send Money" button stays greyed out and does not respond.  Why?

Don't know. If your account balance > 0 and your network status is OK, then the button should be enabled.

What's the IE version?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:36:01 pm
Distribution update

(https://simcoin.info/img/sim-vs-nxt-07-20.png)

255 accounts own simcoins now vs 210 after the IPO.

The top 10 accounts own 21.25% vs 21.00% two weeks before.

Progress report

This week my primary HDD died. It was 5 years old and every summer worked in excessive heat. Then the HDD cooler stopped one day and that was the last straw for it.

Fortunately, I had a clean XP installed on SSD and the drive didn't die completely (thanks, Seagate!), so by cooling it down I was able to copy everything to a new drive. Then XP booted as if nothing happened! Whew...

Still took two days out of this week :(

Did:
- Fixed a bug with account info task that didn't reset the response queue properly and so caused slow balance updates in the test client.
- Added 5th test node.
- Major refactoring of consensus code.
- Client: added Ctrl-C/Ctrl-X/Ctrl-V shortcuts.
- Client: fixed account auto-unselecting, due to updating by timer.
- Minor fixes, improvements and testing – seems stable and reliable now, even with small network and a lot of checks and code missing.
- Tried modified time sync version: the time drift is much slower, but still continues. Have another idea, will test it as soon as enough time passes – I want to see where the current timestamp will drift. Currently it's about 15 seconds off the correct time. And agreement between servers is 1 second. Not bad at all considering servers have 1 minute time difference.
- Setup a new test/development server at Forked (http://www.forked.net/). Both servers, by the way, had 100% uptime so far.
- Two new ideas how to significantly improve consensus and at the same time decrease network traffic. Can't pass this opportunity, but need to write more code unfortunately. Still, since consensus is the core of the system, I believe it must be done.
So this is what I am working on right now.

(https://simcoin.info/img/haz_idea.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:37:39 pm
Progress report

No progress, took the week off.

I was away for 3 days and unfortunately web server on the exchange froze just after I left.

It's back online now.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:37:59 pm
Progress report

Not much progress this week either :(

(https://simcoin.info/img/too_hot.gif)

These are probably the hottest weeks of the summer. I expect temperature to start dropping in August and my productivity raising back again.

I am still working on the improved consensus, it's about 90% done and works on my local machine.

No new version though, because I want to implement the subscription model for clients first, otherwise polling interval kills any confirmation speed.

See you in a week.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:38:40 pm
@Nxtchg - In your opinion, will Simcoin compete mainly with Bitcoin or Stellar/Ripple in the future (which market is more suitable for Simcoin)?

The main idea of Ripple/Stellar is currency bazaar, so I'd say Simcoin is closer to Bitcoin, because it doesn't attempt to deal with multiple currencies.

(https://simcoin.info/img/only_one.jpg)

:)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:38:55 pm
Progress report

(https://simcoin.info/img/no_ice_cream.jpg)
(guess, no ice cream for me...)

Another slow week, although things are starting to pick up:

- Continued developing improved consensus scheme.
- Network packet rounding replaced by optional junk at the end to decrease node traffic and allow better protection for clients.
- Bug fixed: one field from packet header was not encrypted.
- Account registration request is now a transaction.
- Switching to the new consensus scheme allowed to refactor transaction handling code. This, coupled with changing new account registration request to be a transaction, helped unify the code and it now uses a single transaction handling task instead of individual tasks for each transaction type.
- Trying to unify network requests for transactions as much as possible.
- Bug fixed: truncating second layer of encryption part on new account requests now requires a different way to detect it.
- Finalizing design of bootstrapping/account info requests.
- Updating wiki documentation.
- Accounts class to cache ledger accounts in memory. Simple memory pool for more efficient allocation/freeing.
- Client: adding vault accounts into the memory cache on each JS API load_vault() call.
- int5/int6 classes to handle 5- and 6-byte integer fields transparently.
- Thinking about account control.

No new version, because it looks exactly the same, just works a bit faster due to improved consensus. So no reason to waste time updating the nodes.

Nights are getting colder, woo-hoo!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:40:02 pm
Will we see sth big at Sep?

Here's a broad roadmap for Simcoin:

I would like to finish the design and implementation of the core in August/September. Not sure if that's enough time, but that's what I'm aiming for.

When it's done you won't see anything big, because all the changes will be under the hood and the test client will look pretty much the same. But I might release some technical details of implementation for discussion and review, so you can peek under the hood if you understand crypto tech. Also parts of the source code will probably be released for developers and people hunting for security bounties.

To finish the core I need to:
- finalize the improved consensus and related code refactoring
- finish bootstrapping (it's mostly designed, just need to code it), so nodes could go offline and then catch up
- finish client protocol (this can take some time, depending on client's feature list. Also might need to implement these features in the test client to be able to test them)
- implement efficient subscription for clients that can handle millions of accounts

Depending on how much time is left, I would also like to implement in nodes:
- the reward tool
- voting system (it's an essential feature in decentralized systems, because they need a way to self-govern)
- flexible account control (for improved security and multisig)

Then we will need a stress test tool to make sure the system can scale and work reliably under a very heavy load.

This is where the test net will be launched and I can start hiring people to work on the real client and all the other tools and projects. At that point things should start moving much faster and hopefully you will see something "big" around Christmas. Meanwhile I will continue improving the core and adding more features and tests to it.

The official release will probably be somewhere in the spring.

So this is a rough plan, assuming nothing unexpected happens :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:41:01 pm
Look in how many troubles a simple blunder of allowing any account put NXT: https://nxtforum.org/nrs-releases/nrs-v1-2-4/40/

That's why you need to think, think, think and don't be like "I'll just be lazy and make some crap fast and then we'll figure it out".

What speed of transactions it will have?

My design goal is "at least 100 transactions per second with confirmation time under 1 second".

By the way, transaction size:
* Bitcoin: 250 bytes (although it can easily reach 5-10 Kb, depending on the number of inputs and outputs)
* NXT: 160 bytes
* SIM: 96 bytes

Not bad.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:42:09 pm
Spent most of the time today trying to get rid of signatures, at least in some places, because out of 96 bytes in SIM transactions 64 is the signature.

This is very tempting. Removing signatures would allow to cut bootstrapping/history traffic by 2/3 and make database about 50% smaller!

Also verifying signatures is very expensive and puts an upper limit on TPS and bootstrapping speed.

Unfortunately, not much progress, though I managed to come up with some interesting ideas...

That's one example of why this project is a bit slow - research is a big part of it, i.e. trying to solve problems and thinking how to do something better.

This takes time and often leads to multiple dead ends, and there is no guarantee that you'll ever find a solution :-\
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:42:54 pm
One reason to implement flexible account control is that it will allow things like micropayments (https://en.bitcoin.it/wiki/Contracts#Example_7:_Rapidly-adjusted_.28micro.29payments_to_a_pre-determined_party).

This makes it possible to execute tiny transactions off-chain.

So this is how it would work: you time-lock an account, allow only 1 outgoing transaction and then require 2 signatures to send this transaction.

The buyer sends account's passphrase to the seller.

He then keeps re-signing his part, increasing the value (same as in bitcoin), and then before the lock expires, the seller can redeem the money.

After that the buyer gains full control of his account (only 1 signature is now required), so he can take all the unspent money back.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:43:58 pm
Progress report

(https://simcoin.info/img/common_sense.png)

Improved consensus is finished and seems working, I also had a couple more ideas how to improve it further and implemented them.

--

Most of the time was spent on finalizing bootstrapping design and coding it. It's about 70% complete.

--

Spent a day trying to get rid of signatures. Guy Fawkes scheme (http://www.hackerzvoice.net/madchat/crypto/papers/fawkes.pdf) was a big inspiration, unfortunately it means more than doubling confirmation time, so it's not an option.

It's certainly possible to at least not store signatures in the database and not verify them on bootstrapping, but I feel that relaxing security is too much of a risk at this point.

Distributed consensus is hard enough as it is, it's impossible to foresee all kinds of attacks, so for now the signatures stay. Storage is cheap, plus transaction history can be easily truncated at any point.

--

Spent some time solving a problem with one of the exchange deposit transactions.

--

Spent a day following the NXT's 50 M debacle (https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/), but it was well worth it.

(https://simcoin.info/img/colbert_popcorn.jpg)
(I had some NXT on Bter, so my smile was a bit fainter)

There are a few people in NXT community whose opinions I enjoy reading and I learned a lot from this incident.

At first, I was thinking that maybe Simcoin should have a built-in rollback capability, activated by the voting system, but now it seems that policing the blockchain is a bad idea.

Mature industry, account control, insurance and decentralized exchanges/services is the way to go.

--

Was thinking about micropayments (see the previous post). Seems like it will be possible with my account control.

It's actually a very nice feature to have, because such transactions are even faster, have no fee and don't bloat the database at all!

--

Started working on Sim Explorer ("blockchain explorer" in other coins).

I considered posting a bounty, but then realized that, since PHP scripts will just read SQLite database and that Simcoin doesn't have a blockchain and in general is very simple, I could write it in a day or two myself – much faster than finding somebody and then explaining to him how Simcoin works.

So hopefully you will see it in the next few days.


And somebody, please, tilt the Earth already!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:45:14 pm
As estimated, it took me less than 2 days to build a basic version of Sim Explorer:

https://simcoin.info/explorer/

This is all I need for development right now. It will grow along with the rest of the system.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:45:49 pm
Progress report

(https://simcoin.info/img/tentacles.gif)

Tentacles are not always helpful... this is why it's taking so long...

--

Two days spent developing Sim Explorer, including PHP code to parse transaction blobs from the database. The fact that PHP doesn't have 64-bit integers makes things a bit more complicated.

Also converted my NxtAddress PHP classes into Simcoin format and tested.

Did some tests to make sure transaction ID doesn't cause significant collisions.

--

Working on finalizing the design and coding transaction pipeline and client protocol. Drew a detailed diagram of node's transaction pipeline.

--

The rest of the week was spent battling with SQLite performance: turns out that after I've replaced my old HDD with WD's Red, the transaction speed dropped to just 4 per second!

This makes my blood boil. Can you believe that a modern HDD can safely write only 4 things per second?! What the...

I guess, this is mostly because of WD's "intelliPower" marketing BS, which in reality probably means "5400 RPM or slower". Barracuda with 7200 RPM is about 4 times faster and SSD is about 7 times. Still, ridiculously slow.

OK, to be honest, these numbers are not yet catastrophic, they don't mean 4 TPS, because inside one database transaction I can write thousands of Simcoin transactions.

But when this transaction finally gets committed, the system will freeze for the same 500 M ticks (250 ms) and during that time I cannot do anything with the database, can't even read it, so the whole system is stalled.

If you are aiming for <1 sec confirmations, this is unacceptable. I can't just put everything on hold for 250 ms. Even 50 M ticks is too much.

The only solution seems to be switching SQLite to WAL mode and doing all writes in a separate thread. So I recompiled SQLite again, now with multi-threading turned on. I hate to do it, but using threads seems like the lesser of two evils.

Now the code needs to be reorganized to separate writes from reads and probably also to add queues to handle writing stalls.

It's annoying when libraries don't work out of the box and require a lot of reading and testing to figure out how to make them work the way you need. That's why I am a big fan of the NIH (http://en.wikipedia.org/wiki/Not_invented_here) syndrome.

Anyway, I did a hell of a lot of tests with various combinations of settings, locking modes, journaling modes, multi-threading modes, checkpointing modes, page sizes, auto-checkpointing intervals, same/different database connections, tried manual checkpoints in a separate thread, all this while measuring average/peak performance of concurrent writes and reads on both WD and SSD drives. (So stop complaining that this project is taking too long – go invest in toy coins that don't pay attention to this kind of stuff).

The end result is documented in my local wiki and I am now confident that after the changes the system will be able to handle at least 100 TPS even on consumer-grade hardware or VPS.

--

I also discovered that SQLite doesn't free shared locks unless you explicitly call finalize() or reset() and this makes working with prepared statements a bit of a hassle. Had to write additional code to manage automatic destruction of these statements too...

Databases are hard!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:48:03 pm
One thing that maybe you could do is to use memory tables to save transactions in memory and periodically  dump them in 1 second timeframe onto the disk.

Transactions are already queued in memory as C++ objects, so no need for memory tables.

Yes, my current approach is to accumulate them in a separate thread for some time, then group into a single DB transaction and write.

If checkpointing gets triggered it will not stall the system, because writing is now done in a separate thread and checkpointing doesn't block readers, at least not for any significant time.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:48:29 pm
2014/08/24 Monero Blockchain Spam Attack - Post Mortem

On 2014/08/24 a spam attack was launched against the Monero blockchain. Up to that point, Monero had a relatively low fixed fee per transaction of 0.005 XMR (under 1 US cent per transaction). This allowed the attacker to broadcast extremely large transactions every 5 seconds.

For the most part, the network worked as expected. The dynamic block size limit allowed the max block size to grow, and transactions were broadcast without incident. However, the (relatively) slow expansion in the median block size, among other things, lead to some transactions taking some time to confirm. This is not the usual turn of events - normally an increase in usage occurs over a couple of days in a best case scenario (Monero is featured on Dr Phil and Oprah, and every Monero user gets a whale once they check under their seat). At its worst, there were ~400 transactions in the memory pool that were waiting to be confirmed. The sudden, sharp, drastic increase means that the network needed to adjust, and in the interim some transactions took anything from a few extra minutes to an hour longer than usual.

Let me get this right, an unusually large transaction every 5 seconds brought Monero to a halt and required an urgent fork to hike up the fees.

See, what I am talking about?

Almost every coin out there now is a toy coin. The fact that they seem working is just a consequence of the fact that nobody bothered to seriously rattle them.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:49:07 pm
Code: [Select]
class Thread
{
 protected: HANDLE h;
 public:
virtual void run(){ }

bool start(){ h = (HANDLE)_beginthread(Run, 0, this); return (h > 0); }

static void __cdecl Run(void *obj){ ((Thread*)obj)->run(); }
};

Ain't this class a beauty? :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:49:42 pm
https://nxtforum.org/general-discussion/public-key-for-fresh-accounts-this-is-a-wrong-decision/

Quote from: _mr_e
why in the world wasn't that done from day one???

Indeed.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:50:18 pm
Is it possible to have (and exceed) the TPS of Visa?

No crypto will be able to match Visa any time soon.

Luckily, it will also probably not be needed in the nearest future.


Yes, but 100 bytes * 30,000 tps = 3MB/s. Which brings me to thoughts about decentralized currencies having decentralized hierarchy.

30,000 TPS is a ridiculous number.

And at 100 TPS it will be just 10 Kb/sec.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:51:13 pm
Distribution update

(https://simcoin.info/img/sim-vs-nxt-08-31.png)

254 accounts own simcoins now vs 210 after the IPO.

The top 10 accounts own 21.26% vs 21.25% on July 20.

Progress report

Not much of a progress this week, had to take care of some real life stuff.

Nevertheless, did a major refactoring of the Heart (that's the main module that is responsible for transaction consensus). Simplified a lot, transactions are now not individual tasks anymore, but simple objects inside the Heart, this should also improve performance. Fixed a few bugs. Transaction Pipeline diagram updated to reflect all the changes.

So we are now on the homestretch before the first complete version of the core.

This is supposed to be a bare-minimum system, but with all the main functionality in place:
- encrypted network protocol
- time sync
- secure, encrypted vault
- account registration
- 'send' transaction
- fast and reliable consensus
- bootstrapping
- reorg
- arbitrary history truncation
- compact database
- client subscription/account info

I estimate that although some parts might take a bit longer, the core itself should be ready by the end of September (assuming no major interruptions, of course - things happen, you know).

Node's codebase is currently 12,500 lines of code, all the cryptographic code (blake, salsa, ed25519) takes about 3,000 lines. Also, some parts are still messy, with lots of "this should probably…"-style comments, so I expect it to shrink even further.

(https://simcoin.info/img/lenin.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:52:03 pm
I like your confidence about SimCoin!  8)

That's because I've seen it work :)

Unless I missed some fatal flaw, it will rock.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:53:11 pm
Jesus Christ, the ACH system is based on ASCII text files uploaded via FTP!

http://engineering.zenpayroll.com/how-ach-works-a-developer-perspective-part-1/

And yet "$39 trillion are moved through the ACH system annually".

Unbelievable.

Quote
An addendum to the ACH protocol to support same-day ACH settlement is something that is almost unanimously desired by the ACH community. The good news is that NACHA, the governing organization behind ACH, has recently announced plans to roll out a same-day ACH protocol. The challenge is coordinating the adoption of the new protocol across all participating banks. Once fully implemented, the same-day ACH system would likely cut one day from the timelines outlined here.

Talk about financial innovation...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:53:50 pm
Progress report

Another slow week – autumn came and with it some things I have to take care of. Only about half of the week was spent working.

Finalized Transaction Gobbler (part of the Transaction Pipeline). Now focusing on client subscription.

Also thought about the design of the voting system – it's surprisingly hard to implement efficiently and I don't want to compromise transaction speed for it.

So this remains unsolved and it worries me a little, because once the solution is found, it might require changing the design of some parts of the system and it will take time. Need to think more about it.

(https://simcoin.info/img/stalin_votes2.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:54:38 pm
Is there estimate for launch? Something like, Winter 2015? Summer 2015?

https://bitcointalk.org/index.php?topic=561294.msg8297934#msg8297934

Basically, the core should be finished by the end of September, after that I can start hiring people to build stuff around it and the official launch will probably be in the spring 2015.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:55:18 pm
is it not plausible to either handle multiple chains? or at least have multiple data types within the single chain.
so voting could be on a more relaxed chain than transactions, or at least a more relaxed time frame.

also different data types could have different arbitrary durations in the chain.

I thought about doing some sort of voting tokens, but this has its own problems.

People need to be able to vote with their stake. This means that at the time the poll closes the system has to calculate stakes for everybody who voted and this can take time if 100,000 people voted, for example. During this time balances must be frozen and transactions can't be processed.

What I would like is to have some sort of additional "voting" balance, which is incremented with each voting transaction. But then people can move their stake to another account and vote again.

Another approach would be to charge a fee to convert your account into a voting account, for example 10,000 SIM, and then just count votes. This way people can still vote with their stake by creating lots of dummy accounts, but this is bad for database size.

Last option is to vote with real money, but this is also not a perfect solution and would be a bad choice for many polls.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:55:52 pm
a bit more overhead, but could you take a snapshot of all the balances locally as of a specific voting time. Then the votes can come in whenever (up to a deadline) and each node can then lookup in their copy of the snapshot to give each vote the right weight.

Oh my god, could you please spend your feeble intellectual powers on your own projects?

What local snapshot? Each node already has a "local snapshot", it's called the ledger. Making yet another copy only for accounts that voted won't make any difference, the system will still have to count, say, 100,000 votes.

And how would this even work? Alice votes, I record her balance, she moves money to Bob, he votes, I record his balance, now what?

And doing the copy of the whole ledger for each poll is even more retarded.

Go away. Enjoy your delusion that you are a genius somewhere else.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:56:42 pm
Will this work?

1. "Vote now!" is broadcast, including start time and stop times for vote.
2. Nodes receive the broadcast, make a snapshot of the current confirmed balance, and keeps that value until the stop time of the vote.

The price you pay, is that the unconfirmed balances in transit are not counted. Is this a big deal?

I cannot make snapshots of the whole ledger. The system must scale, this means that it should work with 1 and 10 and even 100 million accounts. So the ledger can potentially be several gigabytes in size. Making a snapshot of it every time somebody creates a poll is infeasible.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:57:19 pm
Maybe that concept can help: ForozenCoin http://www.reddit.com/r/Bitcoin/comments/2g5qqq/frozencoin_a_concept/

There are issues with freezing balances. For example, you can only vote in one poll at a time or there needs to be a complicated system to track these locks and their expiration dates. It's also inconvenient to have your money frozen. Would be nice to find a better solution.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:57:47 pm
I think jl777 is megalomaniac now, I don't think supernet will succeed, maybe jl777 will make big money for himselft, you know.

Oh yeah, that's probably the best word to describe him right now. Thanks, I forgot such a nice word exists :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:58:02 pm
Progress report

I think I should stop writing "another slow week", it's becoming a cliché :)

The client subscription system basically works. Tested it with quarter of a million subscribed addresses - it's very fast.

--

Now I plan to focus on the voting system, because I clearly underestimated it.

At first I thought: well, I will just add it later, how difficult could that be? Turns out, pretty difficult :)

To allow voting with stake we can either:

1. "color" coins
2. or lock them

1. Color coins

"Coloring" coins is a bad idea: if somebody buys a large amount of coins to increase his voting power, the last thing he wants is to find out that those coins have already been used in this poll and he now can't vote with them. Also tracking what money participated in what polls is complicated.

2.1. Explicit locking

This puts a burden on the user to decide what part of his money to use (and lock) in each poll, and on the system to track these locks. Many people will also wait till the last moment to lock their funds, and this can cause abrupt spikes of activity on the last day of voting, hurting system performance.

2.2. Implicit locking

We could lock the money implicitly by trying to count votes at poll closing time. This is very bad for performance to the point of being infeasible if we want scalability. Plus, you just know that many users will forget that they voted, move or spend money, and then complain that not all their votes counted.

Coin days

We could try to use coin days for voting, but it's a bad idea too: you can only spend them on one poll at a time. This means you can simply "run out" of your voting power.

It also encourages hoarding and adds another dimension to the problem (time), which complicates things - for example exchanges and other services that hold your money will gain excessive power.

Vote delegation

It would be nice to have the ability to delegate your voting power to representatives, but this opens a whole new can of worms...

--

So you see, it's not that trivial.


(http://i.ytimg.com/vi/IoWJkrlptNs/mqdefault.jpg)

http://www.youtube.com/watch?v=IoWJkrlptNs
 (http://www.youtube.com/watch?v=IoWJkrlptNs)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:58:40 pm
Hm, so apparently there is a race condition with TF in NXT, which requires waiting for 10+ confirmations to fix.

https://nxtforum.org/transparent-forging/race-condition-attack/

So much for "TF will solve everything and make transactions instant".

Told ya that TF is fragile.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:59:13 pm
This is an elaborate attack, and only worthwhile for bigger amounts, everyone should anyway wait for 10 confirmations with NXT to reach bitcoins security of 1 conf.

This was common knowledge.

Is this supposed to be a refutation? Because you just stated the same thing: TF still requires 10+ confirmations.

This shatters all the overexcited posts about how it will make everything instant and take NXT to VISA level. Whether something was "common knowledge" or not has no relevance whatsoever.

How many times have I heard this:

Not to rain on your parade, but NXT TF will allow speeds like this as well.

Right. I'll believe it when I see it.

So far it looks like a very fragile and artificial construct (not to rain on your parade too :) )

Anyway, with block time = 1 minute, you cannot achieve 1 sec transactions. TPS is not equal to confirmation speed.

TF will enable instant transactions (<1 second confirms), but I am definitely interested if you have a working model right now.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 10:59:45 pm
yes, after <1 second you will be able to spend the funds again and will have a confirmation that it was indeed sent.

Again, I will believe it when I see it.

And how is that different from Bitcoin's unconfirmed transactions?

Still this doesn't make it 100% safe from manipulation.

Seems to me like reliability of this is far below 100%, at the point where everybody will still wait 10+ confirmations just to be sure, nobody wants to lose money.

And there go your instant transactions.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:00:02 pm
Let me elaborate a bit, why this seems like a problem.

TF design has a "built-in" race condition (which in my opinion is a consequence of its inherent fragility) and this race condition can lead to double spends.

It's one thing when you need 51% of stake or PoW to double spend and quite another when it's a race condition in your forging algorithm.

Which you don't even intend to fix, but instead tell people "oh, just wait 10+ confirmations, you'll be alright".

If we give up 51% requirement so easily then anyone can do "instant transactions". They just won't be worth much.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:00:54 pm
TF design has a "built-in" race condition (which in my opinion is a consequence of its inherent fragility) and this race condition can lead to double spends.

Could you elaborate on this?

Some algorithms are more robust than others.

It's hard to tell anything specific, precisely because some algorithms are more difficult to analyze and figure out all the possible issues, attacks, things like race conditions, etc.

I believe that TF is that sort of algorithm, and this race condition attack seems to prove me right.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:01:28 pm
You just have to publish the result of the vote few block after the snapshot, this give the nodes time to calculate the vote in parallel of doing the normal transaction process.

So let's say you decide the vote end at block 5000, then it's decided the miners should publish the result on block 5100, then you have 100 block time to do the calculation. You can even give this 5100 block a slightly larger reward so that miners have more incentive to calculate it.

There are no blocks in simcoin :)

And the problem is that during the calculation, funds in all accounts must be frozen, so no transactions are possible until the calculation is finished.

--

My current working idea is an explicit locking mechanism, but with only one lock for simplicity.

It works like this:

- you create another account with which you will vote in the system
- you send whatever amount you can afford to freeze at the moment to that account
- when you send a voting transaction, a time lock is set for this account, and the system increments the stake vote counter in the poll
- you can vote in another poll, this will just keep the account locked longer

Polls will expire, after that no more voting transactions will be accepted and the voting is considered closed. For simplicity I am thinking that all polls must have the same length, but this might be a problem if people need to vote on something urgent, so not sure yet.

This seems like the best solution. Can't figure vote delegation and there are some tactical issues too, but other than that, this is how I plan to do it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:01:46 pm
Ok, I'm an idiot. Just realized I can simply pause the Transaction Gobbler as soon as it detects that a poll has expired and do the calculation.

Gobbler is already working on a separate thread because of my previous DB performance tests, so counting can be done without any hurry.

This means no separate voting account and no locking are required. The system can also do complicated delegation tracing if needed.

The only problem is that some users will forget they voted and move money before the poll is closed, we will need to do something about it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:02:48 pm
how will voting be done/managed ?
in ones' qt/wallet ?

can there be reminders in built that one has set up a vote?

There will be a special page "Voting" where you can see all the polls in the system, from fresh to old. New polls will be marked in bold, same as unread messages. Each poll has a description, so again, similar to messages.

And yes, you will see notifications about new polls. Someone can even develop a service to send notifications via email, text messages, etc. upon various events in Sim. I can allocate a bounty for it if it's open-source.

Users can vote several times, in case they change their mind, and only the last vote will count.

I am thinking that there should be only one type of voting - by stake, because voting with accounts promotes spam accounts and voting with real money promotes scam polls.

There will probably be a limited number of options per poll - 9 (https://en.wikipedia.org/wiki/The_Magical_Number_Seven,_Plus_or_Minus_Two).

Not sure yet about poll duration, whether it should be fixed, say, 3 days or the poll creator can specify 1-7 days length.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:03:07 pm
Progress report

So the voting system design is basically finished. I will probably have no time to code it before the core release, but I needed to design it to make sure no major changes are required to implement it.

The rest of the week spent refactoring the client – I didn't plan to do it, but this test client became so messy that it's hard to change anything.

Also updated client's design to match the rest of Simcoin sites, which will probably be good for the price because people judge things by how they look, not what's under the hood, and the old client was ugly. Need to take care of my investors, eh? ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:03:28 pm
DPOS is bullshit.

Why? The problem with PoS systems is that not enough stake is securing the system, which makes attacks easier.

When you switch from flat to hierarchical model, i.e. from "everyone is a node" to "a bunch of master nodes", the problem becomes more severe. In case of btsx they have a fixed number of nodes, 101, right?

Delegated PoS allows you to increase the stake of nodes.

Now, I am not convinced yet, because when you lend your money with almost no consequences for you, there's no guarantee that an attacker won't be able to trick you to lend him your stake. So attacks might actually become easier in DPoS.

You can probably verify that all of the nodes are honest when you have 101 of them, and that's the road btsx took. But small number of master nodes makes you extremely vulnerable to DDoS (which are quite cheap nowadays).

I've considered DPoS several times. Maybe we can find some better solution to increase the size of node's stake.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:04:26 pm
Progress report

This week I was working on refactoring the bootstrapping protocol and unifying node and client bootstrapping.

Since I lost about 2 weeks in September and also did some client refactoring, which wasn't planned, the core release is moved to somewhere in October. Hopefully :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:04:50 pm
Not to bash the Crypti team, but as I understand the main network is offline for 4-5 days already? Was it worth it to rush things?

The issue is, you can't test for everyones varying hardware setups, network connections, or delays in requests and that makes getting all of the requests and consensus difficult to map out. Our system worked perfectly when scaled on 50 nodes running on different hosting platforms and our scaling projections appeared as though it would work up to 10s of thousands of nodes with no problem.

And then we launched. The system actually worked quite well at first but once the nodes started to climb and we started to see people running them in very different locations and sometimes improperly setup on different hardware and connection speeds which caused unforeseen bugs to pop up. We also saw several attacks on the network in just the short time it has been around. We saw malformed packets, DDoS attacks on nodes, as well as people sending fake requests, or at least, what to the network looked like fake requests. These various aspects were hitting the fork processing so often that the network was starting to skip blocks and hit 2 minute, sometimes 3 minute block times. Over time, it was causing the network to stop. This is unacceptable so changes needed to be made.

Bottom line is, you can't prepare for every possible occurrence and these are growing pains that Bitcoin and NXT both saw in the early days. They saw multiple attacks and even rolled back their block chains multiple times throughout their early days.

Keep in mind, we have posted an entire write-up on how the system is meant to work. You are more than welcome to try to "restart" and come up with a solution. We are always open to input from the community. The problem is that in order to use node-uptime as a property in our system, all nodes must send out requests saying they are alive with specific information and those requests must all get accepted and confirmed through the network with consensus and must do it in a 60 second timeframe. If you have any idea what that means, it's not an easy task, especially when you start incorporating slow connections, systems with different time settings (which we saw when we added windows), and attacks on nodes disrupting the entire system.

These guys couldn't do it in 60 seconds, I am trying to do it in under one. Now you can appreciate the difficulty of the task a bit better.

Also, seems like I am right putting a lot of thoughts into DDoS mitigation, possible attack vectors, general reliability, etc. This is no joke.

By the way, what a lame excuse: "What? Internet connections can be slow? Uh, we didn't know..."

;D

Anyway, I like Crypti and wish them well. Hopefully they will fix it soon.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:05:30 pm
Progress report

Not much to report, because I am currently mostly working on many small things, instead of adding major features.

--

Replaced the ugly "busy" screen in the client with a nice, embeddable progress bar:

(https://simcoin.info/img/progress.png)

--

Spent two and a half days (!) trying to track down the cause of a weird random crash in the client.

The crash happened only occasionally when 2 exposed API functions were called from 2 JavaScript timers and only when they returned strings of significantly different lengths :-\

Couldn't use the debugger because it crashed as well – seems like using IE as an OLE object from one DLL inside another DLL, linked from main EXE, while exposing DLL's API functions to JavaScript timers via another OLE object, utterly confused it :)

Anyway, as usual with memory corruption, had to follow several wrong trails before finally stumbling upon what seems to be the main problem: for some reason IE doesn't like when the arguments he passes to my Invoke() are converted in place with VariantChangeType(args->rgvarg, args->rgvarg, 0, VT_BSTR).

At this point I envy Java and Node.js coin developers...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:06:45 pm
Decentralized systems are hard. Now it seems Sia hit a dead end:

"Dark days for Sia =/. But filecoin is also broken, permacoin is not efficient, maidsafe is opaque and very difficult to audit, and storj is underspecified"

https://bitcointalk.org/index.php?topic=591283.msg9105286#msg9105286
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:06:59 pm
Progress report

Sorry, I was so booored! :(

I work on Simcoin for weeks and weeks and it moves very slowly now. I just wanted to make something complete and working. Something, where I don't have to spend hours thinking about every new line of code.

So I took a week off and m6915 and I made a simple multiplayer game on top of the Simcoin codebase :)

(https://simcoin.info/img/simgame.png)

Download the game here: https://simxchg.com/simgame.zip (Windows only, sorry)

If you don't have an account – just type username and password, it will create one. For now you will play with monopoly money, but later you will be able to play with real simcoins.

There can be max 4 players and up to 8 spectators. We only tested it with 2 players and it was fun! Let's see how it will work with more players.

The rules are simple: you explode someone, you take their 100 simcoins.

When you join the game or suicide, 100 simcoins will be deducted from your account and distributed over the playing field under the brick walls, as 10+10+10+20+50 (displayed as (1), (2), (5) coins).

Cursor keys to move, Spacebar to place the bomb, Enter to join the game.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:07:42 pm
How about this for a slogan:

"Our coin is so fast, we built a multiplayer game on top of its codebase."

;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:08:07 pm
Progress report

Since Simcoin is not yet finished, I've decided to make the game available to play with Bitcoin for now.

So this week was spent finalizing the game, creating a database and integrating deposit/withdrawal method. This time withdrawals will be automatic too, so I don't have to spend time processing them.

Rented a dedicated server in the Netherlands, so it's fair to both US and Asia and the game works much faster now.

The official announcement will be in a couple of days, because some work still needs to be done.


By the way, working on this game is not a complete waste of time :)

It's built on top of the Simcoin codebase, so many bug fixes and improvements are directly mirrored to Simcoin.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:08:38 pm
Sliding around corners was more player friendly in the original game.

It works exactly as the original. Probably feels worse, because the frame rate is less and lag is too high.

The newer version should be smoother and I also plan to improve this further some time in the future.

It also helps to play at a higher zoom level, so hand-eye coordination is easier. The new version will have 100%, 125% and 150% zoom.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:09:03 pm
Progress report

The CryptoMan game is working and people are starting to play it, which is nice. At least you can now see that I can deliver something working :)

Most of the week spent finalizing the game, but I slowly started to code things for Simcoin again too, and plan to switch back full-time on Monday, so don't sell your IPO stake just yet ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:09:32 pm
Progress report

Taking a break from Simcoin was a good idea – I came back with a few fresh ideas. For example, I was never satisfied with my bootstrapping solution, it was too complicated. Granted, the problem itself is very complex when you consider all the factors, but now I found how to simplify it more and make it better.

So, I am still working on Simcoin, even if it might not look this way :)

(https://simcoin.info/img/elephant.jpg)
* This elephant is not accurate.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:10:00 pm
I was wondering whether simcoin will able to handle so many transactions? e.g.100k/sec

Nobody will be able to achieve 100k/sec any time soon. Whoever tells you that is either lying or incompetent.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:10:20 pm
What if he's following a different implementation approach/philosophy?

Unless he's following a different reality (which it seems like he is, judging by his posts) - no way.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:10:44 pm
Didn't read the article but such notions are a bit pointless.  Benchmarks are nice but transactions executing that fast are, well, unnecessary.  For context, 100k transactions a second (tx/s) is the equivalent of 8.6 billion transactions a day, or about 1.1 txs, per human, per day.  I have no clue how many financial transactions occurr each day, but when you consider that these transactions are distributed across 10's of thousands of currency mediums and processors, I can guarentee that no one system processes money that fast.

Exactly. To quote myself

I think that in the nearest future, it will neither be feasible, nor required, for any crypto to reach 1000 TPS. We should be comfortable with 10-100 TPS (i.e. PayPal level).

:)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:11:13 pm
I don't understand. Why does its application on today's world have any real relevance? I would have thought that if someone is making these claims, we would embrace them (wait for proof of course) but not question its usefulness.

Because there are other factors, like adoption rate, for example, which makes incredible TPS rates moot.

It's like building a giant airport for a small town with a single plane just because "why not?".
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:11:41 pm
I think you answered it, 'why not?'. If the design is flawless, cost is the same and it works, why take the inferior route?

Because there is no such thing as "free lunch". Let me give you another example.

Designing a 5-storey building is relatively straightforward and easy task.

Designing Burj Khalifa (http://en.wikipedia.org/wiki/Burj_Khalifa), on the other hand, is a nightmare - every detail becomes a huge problem: water pumping, sewage, air conditioning, heat, dust, window cleaning...

Same goes for when you actually try to engineer a coin. You can't just magically wish something into existence, you need to design and build it, and there is a big difference between 100 and 1000 TPS.

Making wild claims detached from reality is easy. Heck, I can promise you right on the spot that Simcoin will do 12 M transactions per second, while simultaneously rubbing your neck and feeding you ice cream! Why not? In an imaginary fairy-tale land we can do anything!

So if you are into this kind of stuff, please proceed to eMunie forums. Here this pointless discussion is now closed.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:12:41 pm
I have no idea how Fuseleer can make such a claim and still maintain an efficient, ACID compliant system.

Because he is detached from reality.

Quote from ed25519 website: "a quad-core 2.4 GHz Westmere verifies 71,000 signatures per second".

This is a highly optimized version of ed25519, probably the fastest signature algorithm, doing batch verification on top-notch hardware.

So your average server won't even be able to verify 100 K signatures per second, let alone do something else.

And if you try to distribute accounts, i.e. nodes store only parts of the ledger, you will immediately sacrifice security and get yourself a nightmare of doing transactions with sender and recipient being on different parts of the network.

So, as I said, anyone who claims that a decentralized, trustless system can do 100 K TPS is either incompetent or lying.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:15:39 pm
Progress report

The recent streak of bad luck is getting uncanny... It's almost like the universe doesn't want me to finish the damn thing :(

This week I was seriously sick, like I haven't been in several years. A nasty virus crawled down my throat and ate everything it could there.

Then it crawled up my nose and instantly turned my head into a pumpkin. And judging by the color of my eyes – into a Halloween pumpkin.

And on Saturday, when I was finally feeling better, my XP started crashing on boot!

Have you ever seen a green screen? It's like a regular blue screen, only green. The crash happened while XP was showing its own logo, so I guess it changed the system palette and blue became green. Psychedelic...

So I spent half of the day trying to revive it, then started installing XP with "upgrade" option and the crash happened again, so even installation couldn't continue...

But after reboot XP finally figured somehow what needs to be done and installation restarted. I thought: “well, here go all my programs and settings for the last 7 years, it will probably just overwrite everything now”. But no! It was smart enough to figure everything out, and the only thing I lost is my IE turned back to version 6 ;D

So, folks, I am really trying, but sometimes life just sticks its fat ugly ass right in the way! >:(

(https://simcoin.info/img/back_again.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:20:19 pm
Progress report

Nice, we're back at the IPO price :)

By the way, anyone who is dumping now gives up his right to complain about the distribution later.

And it's a great opportunity to buy for people who missed the IPO! I don't mind if most of the money will end up in the hands of a few true Simcoin believers – they will deserve to get rich for being patient and supporting this project.

And those who dumped so close to the core release will feel really stupid pretty soon ;D

(https://simcoin.info/img/life_is_hard.png)

--

This week I was still sick, but not as bad as before, so managed to do some work.

I am finalizing the new, simplified bootstrapping downloader and making a tool to test it, will release it in a couple of days and we will be able to test transactions downloading in real networks. I am particularly interested in wi-fi and mobile connections.

I also decided to start using the IPO money – what's the point of having it if it just lays there and doesn't work? I will use it to solve at least some of the problems that affect my productivity.

I am also starting to look for a good Android developer to do Simcoin's mobile wallet. The app should be able to work with SQLite and send/receive UDP packets.

--

Many coin developers either quit or failed since Simcoin started. I am still here and I still haven't found any major flaws in my approach. So we'll see.

(https://simcoin.info/img/nothing_comes_easy.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:21:42 pm
Ok, so here is the bootstrap downloading test tool:

https://simcoin.info/bootstrap-test.zip

I took a 10 Mb video file and split it into transactions payload of random size.

This produced about 55,000 transactions, a good sample to test downloading. Almost 10 min worth of transactions at 100 TPS.

So this tool is a stripped-down version of the server, which does only one thing - downloads transactions from 2 nodes, one in Switzerland and one in US.

Unzip, click on "run.bat". When it finishes, post the log file here please and describe what kind of connection you have.

You can also verify the output file hashes to make sure it downloaded correctly:

* MD5: 4ef56a7dd4236b15e77118aebe076fa7
* SHA1: 48a80eac37da49103e12fb2c5d07640b2edcbf22
* SHA256: aefb0d6402a48a441cbd92f84e66be67b074ff081bf57d7da83270ea964ac081
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:23:08 pm
Does this scale well? I guess all nodes need the same information all the time.

This is only needed if your node went offline and now needs to catch up. Or for the client to receive transaction history for your account, in which case 1000 TPS is pretty good. If you have 1000 transactions in your account it will only take a second to download them all.

It's also a test of a "single-threaded" downloading. It can easily be scaled up by downloading in parallel.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:23:45 pm
Ok, then I missunderstood. I thought this little test was implying, that your network will be able to support >1000tps constantly.

My current design goal is 100 TPS, although I make sure that all design decisions allow the system to scale up to 1000 TPS if needed.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:24:04 pm
Progress report

As you know, this week I was working on the transaction downloader. Here's a new version of it, which is almost a complete rewrite:

https://simcoin.info/bootstrap-test2.zip

It's now more efficient, better tolerates lost packets and the overhead is dramatically reduced.

It also downloads the file twice, in two separate streams, to demonstrate scalability. Each stream downloads at the same speed as the single stream version, so the total speed is doubled.

--

As usual, most of the time was spent trying to foresee any possible issues or attacks. This is the most daunting part of the project, but since so few developers seem to do it, I think I must continue doing so.

(https://simcoin.info/img/youre_right.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:24:51 pm
Progress report

This week I continued working on bootstrapping/downloading, because before you can start downloading, you need to figure out what you need to download and get a consensus on that.

So there are 2 more tasks on top of the downloader. Can't go into details here, but the previous solution required an additional database table and the new one works with existing structure, and in general is more flexible.

Also did more SQLite performance tests to make sure the new scheme is fast enough.

In a day or two I expect to finish this part of the system and hopefully never touch it again :)

This time the solution seems to be quite good.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:25:37 pm
Do you have some stats about the distribution?

That's a good question! I haven't done this for a while. So here goes:

Distribution update

(https://simcoin.info/img/sim-vs-nxt-12-02.png)

234 accounts own simcoins now vs 210 after the IPO and vs 254 in August.

So we lost 20 people, who exited completely. That's a bit insulting. Couldn't you leave at least 10 K, in case I turn out not to be the complete failure you think I am? :)

But, oh well, hopefully the joke will be on them.

The top 10 accounts own 23.42% vs 21.26% on August 31.

You can see it in the graph, the money went from the bottom half of the curve to the top half.

Rich get richer (http://en.wikipedia.org/wiki/Delayed_gratification), you know :)

While the bottom half complains that "we're 99%, give us more", as if they have anyone else to blame but themselves...

(https://simcoin.info/img/tax_the_rich.jpg)

;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:26:27 pm
I thought I also give you an update on what I am working on right now.

A big area, which is not yet finished, is reorg. Although the consensus mechanism should be very reliable, there might still be situations, particularly in catastrophic scenarios, where some nodes will have a different view of transaction history and need to reorganize it.

The Reorg Boundary is a point in time beyond which no reorg is possible. Nodes will insist on their view of the history no matter what. It should be some reasonable value and I think 4 hours is a good point.

Now, the lazy solution to deal with reorg would be to just flush everything from the point of fracture and re-download it again. The problem, though, is that at 100 TPS 4 hours can amount to about 200 Mb and at 1,000 TPS it can be 2 Gb!

Granted, this should be extremely rare, and we will probably be at 10 TPS, not 100, for quite some time, so it's more like 20 Mb of transactions, tops.

So here's my current dilemma – be lazy or try to invent some complicated scheme to figure out what changed and then rollback/re-download/apply the differences.

It's quite stupid to re-download everything just because one transaction might be different, but detecting what exactly is different over a hostile and unreliable network, and then merging the changes into main "branch" of history, is also far from trivial, actually bordering on "insanely complicated" :)

Still thinking about this...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:27:49 pm
Please don't take the lazy approach. I mean since you dedicated so much work and currently SIM seems to me that is the only cryptocurrency that we can rely for building something totally new, innovative and stable. Every minute dedicated to research before implementation is of utmost importance, since we avoid future impediments.  ;)

Thanks, but this project is behind schedule and a lot of people want to see some tangible results already :)

So I have to cut a few corners to try and deliver sooner. Mostly things that can be improved later, when we need to handle higher volume.

For reorg I will probably use a combination of two schemes: flush everything, but try to re-download only the relevant section of the history and thus cut the download size about 10 times. Half-assed approach ;D

Besides, this should never happen anyway, it's only for very rare cases.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:28:19 pm
FWIW, I'm happy to wait.

This is one of the few projects currently in crypto that I don't doubt is going to come through in the long run and I would rather you don't feel pressured to rush out solutions to problems.

Thanks, guys :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:28:44 pm
Progress report

Slow week, had to take care of some real life stuff.

So, as you know, I finalized bootstrapper this week, plus reorg. The whole architecture starts to look very simple and elegant.

There are 3 major parts: Transaction Gobbler, Bootstrapper (which now also handles reorg) and the Heart, which handles transaction consensus.

All of them are practically done, yet my to-do list still has a gazillion of small tasks :( This is the proverbial last 10%, which take another 90% of the time :) Anyway, we will get there one day.

Also rewrote this piece of garbage: https://github.com/ghedipunk/PHP-Websockets and now I have a nice, simple, non-blocking websockets server in PHP, which can be used for various dynamic web pages: exchange, explorer, web wallet, you name it. Even games ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:29:15 pm
Stellar revealed a flaw in Ripple/Stellar consensus. It seems there are still lots of room for better consensus.

https://www.stellar.org/blog/safety_liveness_and_fault_tolerance_consensus_choice/

Wow, another one bites the dust, and a big one!

Well, can't say this is a big shock, because when I've read their full paper I was surprised at how bad their system actually was - it made so many assumptions about the state of the network in order to function correctly.

Quote
We are still investigating the triggers for this consensus failure, but believe it is caused by the innate weaknesses of the Ripple/Stellar consensus system outlined above compounded by the number of accounts in the network. Presently, we have approximately 140,000 active accounts a week and over 3 million total accounts which is in excess of the approximately 120,000 total accounts (active and inactive) this stack has previously supported.

Our monitoring of the network has made it clear that the underlying Ripple/Stellar consensus system is not performing at this level of scale, which is still small relative to the global financial system. In order for such protocols to perform at real-world levels with the expected degree of safety, this number of accounts should not be a problem.

Just wow.

This also shows how difficult the distributed consensus is. Although I hope to do better, every such failure makes me suspect that I am deluded :) (Sell, sell, sell! ;D)

Also, I can't fall back to Ripple's consensus now if Simcoin's consensus fails, at least not until they invent something better.

Well, let's hope it will work.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:29:52 pm
Thought about it a bit more, their claim that

"The majority of the network was on ledger chain A. At some point, the network decided to switch to ledger chain B."

means that the system split, and for a few hours each part operated independently, happily reporting that everything is Ok and building a separate transaction history.

This is weird. I can't imagine under what conditions that would be possible in Simcoin - it is designed in such a way that it wouldn't build 2 separate histories. If some catastrophic failure splits the network it will just stop working almost instantly, because I believe that not being able to send money is not as bad as losing it.

In that regard, Simcoin sacrifices some resilience for speed and reliability. Ripple's solution is almost centralized, it's strange they didn't take the same route...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:32:11 pm
There was some sort of security incident at blockchain.info and now the main exchange wallet stopped working.

Your money is safe, but no withdrawals are possible at the moment.

Also please don't deposit anything, just in case.

I've contacted blockchain.info to resolve this.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:32:24 pm
Weird things are happening at blockchain.info - a few hours ago everything looked normal, now the balance is 0 and there are some crazy transactions on 8th, which are not recorded in my database.

Can anyone check this address 12E1nuxThKRSNLSUHAYKcXis3KPpS9834X in the native bitcoin client?

Particularly the balance and all transactions on 8th.

This is weird: https://www.biteasy.com/blockchain/addresses/12E1nuxThKRSNLSUHAYKcXis3KPpS9834X
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:32:40 pm
It looks like blockchain info was on a fork or used their own database instead of the real blockchain, so it showed that everything is Ok, but in reality every incoming transaction after 8th got stolen?

https://www.blocktrail.com/BTC/address/12E1nuxThKRSNLSUHAYKcXis3KPpS9834X/transactions
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:32:57 pm
UPDATE:

The last transaction on 7th was at 22:50:53, so their window should be at least an hour longer.

Seems that about 3 BTC went to the Good Samaritan, who then returned it to blockchain.info: https://bitcointalk.org/index.php?topic=581411

Anyone who deposited after 7th got their deposits stolen immediately.

All this time blockchain.info showed me completely different view of things and a valid balance, so I was unaware that somebody was stealing all new deposits.

Users #96, #387, #500, #1176 had their deposits stolen for the total amount of 4.72614335 BTC.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:33:15 pm
That's not really true, I am 500 and I deposit yesterday 2 times around 0.322 and it was deposited correctly, I bought with 0.322 more than 250,000 sims and then I decided I needed the other 0,3...to buy something else so I withraw it and its standing in pending withdwal..https://simxchg.com/ is down so I can not see the right figures...my deposit were not stolen!!! One I traded it and the other deposit I withdraw and is pending!

The amount displayed on the site is not from blockchain, it's just a record in my database. The real money is gone.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:33:32 pm
...you can trade with just data so what happened with my over 250,000 sims I bought its showing I bought it...

Let's first see if blockchain.info will compensate this, as they should, because, as I understand, this is their bug.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:34:15 pm
UPDATE:

Blockchain.info returned the full amount stolen. SimXchg will open in a few days.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:34:51 pm
Yay  ;) ;) ;) ;)

(https://simcoin.info/img/cage_eye_twitch.gif)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:35:21 pm
Do you have some vision how could Simcoin speed up many different crypto tasks. Not only send fast Simcoin to Simcoin?

You will also be able to send messages as fast as IM.

But in general I don't think much about it. My job is to make it work. Once it's working, people will come up with all sorts of ways to use it :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:35:46 pm
Progress report

This week the blockchain.info incident took almost 2 full days off my work schedule :(

And it was scary: a single missed assignment operator and in just three hours hundreds of thousands of dollars were stolen!

So instead of cutting more corners I've decided to start a major refactoring. Cleaned up a lot of junk and temporary scaffolding...

One thing that should have been done a long time ago is separation of client internals from the interface.

Now there will be just one library - simcoin.dll, which can act as both a client and a server, depending solely on the tasks loaded at startup.

So to implement a Simcoin client you just link to this library and call sim_start("client") and that's it, you can now use API calls to interact with it.

This separation will require a bit more work, but it's the right thing to do:


--

I also wrote a very simple (literally, under 100 lines of code), yet very fast key-value storage system, with a nice side effect of extremely fast insertion sort, and "sort on insert" is a common scenario in Simcoin internals.

For sequential keys the overhead is just 4 bytes and for random keys – about 21 bytes.

The average insertion time for 1 M items is only 480 ticks (!) and the average lookup time is 420 ticks. And you get a sorted set for free!

So I'm happy :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:37:16 pm
Progress report

This week I continued refactoring, organizing all code into a single library, developing and documenting the Core API interface.

The interface is shaping quite nicely – all interactions are done via commands, which also serve as events if broadcast to all tasks. The host can subscribe to receive these events.

This design is extremely simple, yet very flexible, and it supports transparent API versioning for backwards compatibility. Similar to DirectX, only better :)

In sim_start(), you tell which version of API your app is using and then the glue code converts all commands and events transparently between the host and the core.

This is important, because it allows applications to use the latest version of Simcoin core without the need to recompile.

Such interface also facilitates loose coupling and I like how it works now. Doing this was a good idea.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:38:26 pm
Sorry to say (and I hope I am wrong) but the opening of an exchange that only allows bitcoin deposits to trade for some fictional Simcoin assets really stinks of a scam.

It makes me nervous as I am an investor.

As an "investor" you should have done your due diligence. The exchange was opened 6 months ago and much more money went through it than remains. I also operated another exchange and returned all the money when I had to close it.

So before you start throwing scam accusations, do your homework.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:38:42 pm
Today is almost exactly 9 months since Simcoin started (jeez, time really flies!).

To celebrate, all Simcoin stakeholders will get a small present today – everybody’s stake will be increased by 1%! :)

Happy Holidays!

(https://simcoin.info/img/christmas.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 20, 2015, 11:39:00 pm
Progress report

This week I continued switching tasks to the new scheme of commands and events, which I like very much – it organizes things nicely and gives you great flexibility.

For example, to work with the ini file before there were two functions: ini.get() and ini.set().

Now those functions are re-routed through commands. This instantly makes them available to the host application if it decides to store some of its settings in the ini file.

But that's not all - the host can easily intercept those commands and provide its own storage for all configuration variables!

The same way it can either send commands to write to the log file or intercept them to redirect log messages somewhere else.

It also makes it easier to debug – I wrote a special task that just listens to all passing commands and writes selected types into a file, so you can then examine the history of what was going on.

--

Also scanned my paper notes :)

(https://simcoin.info/img/notes-scan.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 22, 2015, 11:22:29 pm
A good article:

http://ventrellathing.wordpress.com/2013/06/18/the-case-for-slow-programming/
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 22, 2015, 11:23:01 pm
Progress report

Not a bad week, considering all the holiday distractions.

Tasks can now run at different levels to allow ordered processing of commands. There are also two passes for each command. This way I can emulate OOP, where a higher level task can extend a lower level task functionality by modifying incoming and outgoing commands. Or create "filters" that intercept certain commands. Not sure whether to expose this to hosts, but at least that's how it will work inside the core.

Finalized quitting synchronization between the host and the core. This is important because they run in different threads.

Continued adding more commands and documenting them in wiki.

Packet addressing changed to be transport-independent. This is the most flexible solution; now the core can handle packets regardless of how they arrived, via UDP or some other method.

Triage task started, its job will be to prioritize incoming packets and limit packet rates to prevent attacks and abuses. It will also be responsible for packet encryption now, to make it easier to implement alternative transport protocols, if needed.

Almost whole day spent restoring simcoin.info, because the %$@#%& qhoster just lost my VPS and refused to do anything about it "because New Year"! Still waiting for them to restore it! Stay away from that "company", seriously. It was foolish of me to keep a server with them, even for things that are not so important.

Also modified my PHP WebSockets server to use streams instead of sockets, so it could support secure connections (wss:// instead of ws://). Surprisingly, it worked :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 22, 2015, 11:23:08 pm
Is any of this of relevance to Simcoin's future in terms of Quantum computing being a potential future threat to crypto?

http://en.wikipedia.org/wiki/Supersingular_Isogeny_Key_Exchange

I have enough things to worry about without quantum computers ;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 22, 2015, 11:23:30 pm
Progress report

This week I was converting the client to use simcoin.dll core.

It was more time-consuming because the client was much more messy (the main reason that motivated me to move all the simcoin core functionality into a separate library).

Also because the client acts as a middle layer between the core and the Java Script code: since JS can't use commands/events directly, they needed to be wrapped in a set of API functions.

The conversion is not yet finished, there's still some more work left.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 22, 2015, 11:24:19 pm
Progress report

This week I took care of communication ID collisions. Since the ID is 4 bytes long there could be collisions as the number of users grow. For 4,000 users the chance is one in a million, but for 4 million, it's one in a thousand.

Previously I left this to be dealt with in the future versions, but since commands are now a documented interface, I had to think how to handle collisions and implement the solution.

By the way, I could have probably saved myself about a month of work if I didn't bother to encrypt packets, like all the other coins don't.

It's one of those tasks that seem relatively simple to a regular person ("You just need to call something like encrypt(packet) and that's it, right? How hard could that be?"), but prove to be much more complicated in reality. Because before you can call encrypt(), you need to get a key and this unfolds a whole chain of events and problems. I might tell you more about it one day :)

But anyway, I found more or less simple ways to deal with all the complexities, so now collisions are taken care of.

--

Spent some time adding automatic indentation to wiki sections. Some articles became quite large and difficult to read. So had to figure a way to do it.

--

I will post the new roadmap once the refactoring is complete, but in general I am at the stage where most of the things kinda work, but there's still a gazillion of small tasks to be done.
 
This is Simcoin right now:

(https://simcoin.info/img/building-under-construction.jpg)

You can see the whole building, but still need to lay thousands of small bricks to fill the walls.

And here's how software development works:

(https://simcoin.info/img/log-graph.png)

Most indie projects fail in the Q point, when the going gets tough. You see it all the time – a few young hotheads gather together and decide to do a super cool game and in a couple of weeks they post cool screenshots, which look almost like a complete game. And then it never goes anywhere beyond that point and project members get frustrated and quit.

Why? Precisely because of that graph. You work and work and nothing seems to happen and it feels like you're stuck and will never finish it.

Here are just some recently closed items from my to-do list:

+ Tasks::add(): protection against null pointers.
+ BUG FIXED: Incorrect check "!find()" for array when it returns 'int' instead of 'bool'.
+ BUG FIXED: Can't init TaskDesc before inserting! Otherwise it references itself by ID and it's not in array yet.
+ BUG FIXED: set 'done' to 'true' in Tasks constructor, otherwise init() will wait N seconds for the non-existent thread to finish
+ Set reason in sim.quit() and don't reset it for 'quit' command, so we could return errors this way.
+ Move socket and NetStats from Packet into T_Net.
+ Bruteforce ID collisions in Tasks::add(), otherwise every 16 M tasks there might be a problem...
+ Suicide tasks a bit differently. 'dead' array.
+ INI: Remove the variable if an empty string passed.
+ KVS walk functions. dump(). Bug fixes. Big endian keys, key size added for that.
+ "OK" reason to mark processed command.
+ Sending sim.quit() in on_exit handler.
+ 'level' parameter for sim.start_task.
+ Default level for tasks into task factory.
+ CmdLog: add indent.
+ BUG FIXED: outgoing() pass wasn't executed for orphaned commands, this could lead to wrong indent in CmdLog because incoming() wasn't paired.
+ Tasks::print()
+ BUG FIXED: 'quit' message must be sent only in one pass.
+ SimApi::out_raw_packet.
+ 'bool4' type for commands to make misalignment less probable.
+ 'is_node' into 'comm_key' command.
+ BUG FIXED: outgoing task no was 1 more than it should, because after the loop it's invalid. And also if you processed a command you shouldn't receive outgoing() call anyway.
+ BUG FIXED: outgoing must cycle till "i >= 0" instead of "i > 0". D'oh!
+ BUG FIXED: Tasks::add("") didn't set the level and it also didn't set it properly. 2-in-1 bug.
+ Client's data path from DLL path.
+ Rename 'hash' into 'hmac4' and use 4 bytes instead of 3. Update wiki.
+ Triage::get_peer() that will deal with comm_key event/adding internally.
+ KPS::next().
+ Change Triage to use next() to cycle through all keys and decode proper one.
+ Damn, 'account' and 'is_node' must be returned for each key!
+ operator == to Hash32. Store hmac in vault as Hash32 instead of byte[32]. Need to convert everywhere.
+ Hash32: added a bunch of functions to support "Hash32().add(prefix).add(msg,size).calc();" style of programming.
+ Hash32: zero buffer after stretch() to clear passwords.
+ Tasks::add(): don't add tasks if quitting.

And it goes on and on and on… :(
The to-do text file is already 329 Kb in size!

There's no other way than to just grit your teeth and keep going...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 10:51:26 pm
Progress report
(Jan 25, 2015)

This week I was working on refactoring the vault and on command-based interface for it (+ wiki spec).

The vault is an important part, so it requires a lot of thinking and ideally should have been a stand-alone project, yet I am developing it just as an optional feature of Simcoin...

Also added the auto-repair capability to the vault, in case the file gets corrupted. Updated the old repair algorithm description in the wiki.

--

Checked a few JSON libraries for C/C++, didn't like any of them for the simple task I need: passing commands to/from JS to limit the number of wrapper API functions. Will probably write something simple myself.

--

Spent one day setting up our own forum, which will be shared with CryptoPlay (https://bitcointalk.org/index.php?topic=927003.0)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 10:52:25 pm
Progress report
(Feb 01, 2015)

This week I continued working on refactoring the vault and on command-based interface for it.

Also added the third core mode – "neutral" – in which the core only serves as a passive library and provides useful services to third-party applications.

Added a bunch of generic/crypto functions. For example, any app can generate public/private keys from a text passphrase by sending this simple command:

(https://simtalk.org:444/img/api_sim_key.png)

It will also return the address of the account, which corresponds to this passphrase. Very clean and simple.

--
 
Created Vault Maker GUI tool:

(https://simtalk.org:444/img/vault_maker.png)

More info here: https://simtalk.org:444/index.php?topic=29.0

--

Switched SQLite to use delayed DLL loading because in the neutral mode not every app wants to include 400 Kb DLL if it's never used.

--

qhoster finally restored my lost VPS (and only after just one month ::)), so I was able to copy old data and restore SimExplorer (https://simcoin.info/explorer/) and wiki (https://simcoin.info/wiki/).
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 10:57:23 pm
Progress report
(Feb 08, 2015)

This was a relatively slow week, plus I worked on many small things, which are hardly worth mentioning, like splitting the ledger into several sub-tasks because it became too big, or the "task died" event to help with task synchronization...

But anyway, this project is not a sprint, it's a marathon, so steady progress is what matters.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 10:58:12 pm
Progress report
(Feb 15, 2015)

Good progress this week, but mostly on small things, which hardly seem worth mentioning.

Here's about 2 days worth of to-do items, to give you an example. Not sure if anybody reads these, but anyway :)

+ Split SQLite into 2 classes to make setting exposed API and some additional checks more clean.
+ Comm keys stuff moved into its own independent sub-task.
+ self.accounts, set from the ledger check task.
+ Realized that there will probably be some modified versions of nodes running, so added a "branch" field into both Pong response and status. It will also help to distinguish bugs between platforms (Windows/Linux, etc.). Wiki updated.
+ task_died.is() to compare by name.
+ Added "update keys" command.
+ Added confirmation support into node's console.
+ Beep on console.confirm(). Also tested flashing the window - not good.
+ Nasty bug found and fixed: starting tasks inside incoming() or outgoing() sometimes caused indexes to shift, so had to rewrite the whole event dispatcher loop to allow this.
+ Writing some draft code for task subscription for commands...
+ Finalized how the vault records are enumerated via commands.
+ Reject vault passwords shorter than 6 chars on nodes.
+ Added "status" command to get a bunch of aggregate info about the core.
+ Rewriting and simplifying T_Startup to manage _all_ the tasks startup sequence in one place.
+ BUG FIXED: didn't catch if there's no keys in the vault in T_LedgerComms.
+ Improved SimExplorer a bit and added public keys display. Took some time to figure out how to do it because of SQLite's stupidity.
+ Removed sim.out_packet and sim.out_raw_packet - they are almost always "out". Only Net and Triage send them as "in" and they can do it manually.
+ Consistency changes:
    + "cfg" => "cfg / set cfg"
    + "vault pass" => "set vault pass"
    + "vault info" => "get vault info / vault info"
    + "vault data" => "vault data / set vault data"
+ New vaults for all test nodes generated (the stretching algorithm changed).
+ "cfg loaded" event.
+ Set node name from INI by Supervisor on "cfg loaded". Enforce allowed characters only.
+ Moved "time" and "ts_adjust" into status. Renamed to "net_time" and "time_diff". Fill net_time by Supervisor from self.time() for "status" command. Wiki updated.
+ Replace "type" and "reason" with arrays in sim_cmd.
    + Also use cmd_type() instead of "type" to allow "type" to be used by other commands, like sim_packet and sim_vault_data.
+ Unicon switched from node indexes to account ID's to help with decoupling.

Also started drawing a startup diagram, because things are getting a bit complicated:

(https://simcoin.info/img/startup-small.png)

The good news is: the end of the refactoring is in sight. I won't give you any time estimates because when you refactor, you constantly get new ideas about how the code should be written and organized, and that's hard to predict, but at least most of it is finished.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 10:58:32 pm
Progress report
(Feb 22, 2015)

Not much progress this week because I had to take 3 days off and deal with some real life stuff.

Normally I work every single day without weekends or holidays, but unfortunately sometimes you have to do other things too :(
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 10:58:53 pm
Progress report
(Mar 01, 2015)

Good progress this week, although refactoring is not yet finished, mostly because about half of the week I spent thinking and documenting stuff instead (passed 1K edits in the wiki: actually 1,150 already).

One thing I was working on, and am excited about, is a virtual machine (yes, Simcoin will have one). But don't worry it will be very simple, not Turing-complete, more like Bitcoin script, but of course simpler and more elegant.

It took me about 1.5 days to write a spec and most of the code for it and the compiler. We will be able to use it anywhere, where we need simple scripting, for example to define the rules for transaction fee calculation. Then all the clients can download these rules and use them to calculate the minimum fee required for each transaction.

When it comes to scripts, even a simplest language can usually give you a lot of flexibility. That's why I am so excited about it – how simple and yet powerful it is :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 11:00:55 pm
Progress report
(Mar 08, 2015)

Lost two days this week when my new HDD died :(

It survived for just 8 months. And what's most annoying is that it was a red WD drive, which is supposed to be more reliable and tolerate heat better. Damn marketing liars! Probably the only thing different about it is the red sticker.

Luckily, it died in the exact same way as my previous one – started malfunctioning after heating up. So I was able to cool it down and copy all the data within one hour. And then realigned partitions for 15 more! Thanks, Paragon Software, for being so lame...

Still, managed to get some work done: continued working on VM/compiler, plus figured out how to organize accounts in such a way that reorg could be done incrementally instead of the simplistic "flush/rebuild".

And also figured out how to efficiently locate fracture points, so now only a few transactions need to be re-downloaded in case of the reorg.

These two are significant advances, so I am happy with the overall progress this week.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 11:02:26 pm
Progress report
(Mar 15, 2015)

This week I took three days to push CryptoPlay's project A, because it's getting ridiculous - it's a tiny project and we still can't finish it! Titulaer promised to take two days off his day job next week too, so hopefully we will start closed beta-testing for our top investors next week (by the way, it's still not too late to buy shares (https://cryptoplay.net/xchg/index.php) ;) )

The rest of the week I was mostly fixing bugs. About 90% of my closed to-do items were "bug fixed" records. It takes less mental effort to fix bugs now because individual modules are simpler, but it's more time-consuming, since now I have to track bugs across a multitude of modules and determine which one is malfunctioning or which ones have miscommunication.

This made it obvious that I need better debugging tools, so I worked a bit on improving my command logging task and other debug instruments.

One notable thing is that I finally figured out how to merge staged and non-staged consensus classes into a single one. It doesn't sound like much, but having two copies of such a critical code was bothering me from the start and I couldn't find a simple way to merge them until now.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 11:03:38 pm
Progress report
(Mar 22, 2015)

Many more bugs fixed. Besides integration bugs, some of the bugs were caused by the lack of unit testing, which I started to relax due to time pressure. Well, it bites back.

Spent some time helping Titulaer with CryptoPlay's project A, but he occasionally helps me with Simcoin too: for example he tested Simcode compiler and VM and caught quite a few bugs!

One notable thing: I finally completely fixed my initial blunder of separating everything by transaction type – there's no need for that. So earlier I've merged all the transaction-specific tasks and this week finally merged all the network packet types to be just one – TRANSACTION. The underlying code shouldn't bother with what kind of transaction it is. Sounds obvious, but it wasn't in the beginning.

----

Yesterday was exactly one year of me working on Simcoin. On March 21, 2014 I had the idea and started looking for suitable crypto libraries. So, happy birthday, Simcoin :)

To commemorate, I've started our future repository at Github:

https://github.com/NxtChg/simcoin

It's a small step for… uhm, never mind.

Even though I initially allocated only 1 year of my life to this project, it's obvious that I can't just throw it all away, so I will have to continue working on it for as long as it takes.

I am still here, still working and haven't given up on any of my promises.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 11:05:07 pm
Progress report
(Mar 29, 2015)

This week I shifted focus to the client and refactored the JS API to form commands completely in JavaScript.

This makes the client relatively simple – it's basically just an embedded browser with a single function send() to pass commands between JavaScript and the core. It doesn't even have to be recompiled if the core interface changes – only the JS code needs to be updated. So the client will be easier to maintain and easier to port, because JavaScript code is already cross-platform.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 23, 2015, 11:05:36 pm
Progress report
(Apr 5, 2015)

I've decided to suspend progress reports, because at this stage they are too distracting – instead of focusing on what needs to be done I am trying to find tasks that would give weekly reports a sense of progress, and it only delays the project.

So the next update will be when there's actually something to report.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on December 25, 2015, 09:30:18 am
Progress report
(Dec 25, 2015)

Happy birthday to you,
 Happy birthday to you,
  Happy birthday, our saviour,
   Happy birthday to you.

(https://simtalk.org:444/img/hans.jpg)

As they say, "It's not officially Xmas until Hans Gruber falls off the Nakamoto Nakatomi Tower".

Anyway, I wanted to describe briefly the current state of development :)

A few months ago I got stuck with the internal version "v2". The main reason for this is that I tried to develop the full client along with the main protocol and unify client and server as much as possible.

This proved to be too difficult, especially in the clouded state of mind that was caused by neglecting my health. The task became multi-dimensional and finding optimal solutions next to impossible: you change something on one dimension and everything else changes on the others. The current codebase became quite complicated to the point that I didn't feel confident in its security anymore.

After taking a break and relocating to a warmer climate, as well as improving my heath, I decided to focus on the server and use a test "SPV" client instead, which would require 100% trust in the node it connects to. Then reduce the trust by connecting to 3-4 nodes at the same time and comparing the results. And then make the final version, which doesn't require trusting any particular node.

So "v3" was born and I made some nice progress, revisiting various parts of the system and rewriting all the stupid things I've done in the clouded state of mind.

Then I got to tx fees and realized that they should be handled differently. This required some minor changes, but more importantly - a lot of problems to solve.

Research is the most annoying and time-consuming part of this project, particularly because you can't plan it.
You just wander around your apartment thinking and hoping that today you will be able to solve it.

In the end, of course, all of it is due to my own stupidity. Sorry for not being smarter :)

I think here is where I am currently:

(https://simtalk.org:444/img/curve.png)

I can see the light at the end of the tunnel, but it's still a long road to go.

There is nothing cool to show you at the moment. I wrote a network monitoring tool (https://simcoin.info/simon/) using the WebSockets server developed for CryptoPlay, but it doesn't look particularly exciting :)

It would be nice to give you some sort of timeline, but:

(https://simtalk.org:444/img/dt141125.gif)


So I guess our faith that this project will ever be finished is gonna be tested some more :)


(https://simtalk.org:444/img/fore.gif)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on January 05, 2016, 01:45:44 pm
bytemaster finally realized that coin-days are stupid:

Quote
There are two ways to do proof-of-work with stake:

1. Based on how long you held a coin in the past

2. Based on how long you promise to hold a coin into the future

I will submit for your consideration that what someone did or didn’t do in the past is a risk-free sunk cost similar to renting mining equipment on a day to day basis.

On the other hand, promising to hold a coin into the future is a high-risk cost similar to buying mining equipment that takes a year to earn back the initial capital.

In terms of security, the future value of a coin is the only thing that matters and this is why option #2 is superior.

http://bytemaster.github.io/article/2016/01/04/The-Benefits-of-Proof-of-Work/

And only after "a year of experience with proof-of-stake"...

Oh, yeah, and that the stake is useful for on-chain voting... ::)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on January 25, 2016, 04:59:32 pm
Got a serious cold here finally and couldn't do much in the last 7 days.

The good thing is back at home I would have got 3 or 4 by this time, so it's an improvement :)

Still sucks to lose a week...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on January 25, 2016, 06:43:34 pm
Get well soon !

Health always comes first.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on January 25, 2016, 06:55:46 pm
Thanks!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on January 27, 2016, 11:08:15 am
I hope you recover well. And keep up the good work with simcoin. I'm looling forward to your future updates.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dr3xter on January 29, 2016, 11:16:39 am
Why not just close the forum and devote yourself to health. This becomes tedious and insulting. Move on.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on January 29, 2016, 11:30:16 am
Why not just close the forum and devote yourself to health.

How would closing the forum help? ???

And how can one prevent virus infections? You could be as healthy as The Rock, and still get incapacitated for two weeks by a flu. Do you know how viruses work?

This becomes tedious and insulting.

Well, sorry, I insulted you by being human... As soon as they invent metal bodies, I'm first in line.

I understand you're frustrated. Me too.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dr3xter on January 29, 2016, 03:12:07 pm
It is much worse to live with false hope than accepting a lost investment!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on January 29, 2016, 03:22:59 pm
It is much worse to live with false hope than accepting a lost investment!

What exactly do you want from me? You want me to quit, because you have no patience?! :o

If you think it's false hope, then sell all your coins an live with a lost investment. Nobody's stopping you.

I can help by banning you here, if you wish.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on January 30, 2016, 12:40:03 pm
Why not just close the forum and devote yourself to health. This becomes tedious and insulting. Move on.

So according to you, people with a less than ideal health should not try to improve the world? And success is something that can only happen when things go according to plan? Try telling that to someone like Stephen Hawking.

I'm sorry sir, but in my opinion your view of the world could use some improvement.

What exactly do you want from me? You want me to quit, because you have no patience?! :o

True minions have eternal patience for their overlord. :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: vader on February 01, 2016, 01:14:04 pm
 8) im still sure we will get a coin sometimes in the next few years...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 02, 2016, 10:06:13 am
8) im still sure we will get a coin sometimes in the next few years...

Absolutely. I am pretty sure it will be this year :)

Thanks for your support, guys.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: grandpa_seth on February 05, 2016, 05:27:49 am
8) im still sure we will get a coin sometimes in the next few years...

Absolutely. I am pretty sure it will be this year :)

Thanks for your support, guys.

Party time, Excellent.

When Simcoin is released you will have the best and brightest to add to your minions wanting to pick your brain.
Simcoin should surprise most of the crypto world and its gonna be fun. Can't wait.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: bitcoinpaul on February 08, 2016, 05:20:15 pm
Soon 8)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: gs02xzz on February 08, 2016, 06:18:45 pm
Soon 8)

How soon?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on February 08, 2016, 06:29:14 pm
I' m sure it will be worth the wait.
I guess silence for devs means productivity and creative thinking  8)


Meanwhile, a brief update every now and then (e.g. something that won't affect productivity rate, like a short status msg) will be more than welcome  ;)

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 10, 2016, 01:11:34 pm
This is a particularly nasty flu. Maybe because it's local to another country and my immune system still can't break the code.

I get better, I get worse, and this BS continues for 3 weeks already.

But complaining about my health makes some people angry, so I'd rather just stay silent.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on February 10, 2016, 01:35:54 pm
Oh man, 3 weeks! That's sucks. I'd much rather hear that your sick then wonder if your still alive. Keep posting!

But yeah, get better, stay healthy and simcoin will be finished when it's finished!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 10, 2016, 01:52:37 pm
Thanks. Immune response to flu is another reason why PoW sucks :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: grandpa_seth on February 10, 2016, 04:38:39 pm
Thanks. Immune response to flu is another reason why PoW sucks :)

Heh.

I've been fighting a bad cold for 2 weeks. Though I can't imagine what it'd be like if I were in a foreign place like you.

Hope you get better soon. May the Schwartz be with you.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: kjadb on February 11, 2016, 12:11:31 pm
8) im still sure we will get a coin sometimes in the next few years...

Absolutely. I am pretty sure it will be this year :)

Thanks for your support, guys.

Cool! There's really no need to worry about timing and release dates. crypto is still a baby in nappies, still crawling around in experimentation mode. Better to take your time and get things right! No crypto is even close to mass user adoption, so the race hasn't started yet.

Hope you feel better :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 11, 2016, 01:01:19 pm
It's pretty clear that we need more manpower.

As soon as the first version is released we need to find more developers, probably organize a "pay-for-feature" scheme.

Then things will start moving much faster.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 20, 2016, 11:20:04 pm
The node finally sync'ed (that took a long time!), so I tested the new Bitcoin API at https://simxchg.com and everything seems to be working fine.

Deposits are very fast now, they should appear on your "Deposit" page almost immediately. No more forwarding, no more blockchain.info antics.

If you experience any problems, please notify me immediately.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: snowdropfore on February 23, 2016, 01:16:49 pm
i have been in simcoin almost  1year and a half , i bought 1000000 simcoins  yesterday,and now i have 2000000 simcoins now,hahaha~~
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 26, 2016, 11:44:05 am
About the lack of updates: unfortunately that nasty virus has returned.

I went for a ride on my bike to take care of some real-life stuff, thinking I almost completely recovered, but heavy breathing caused the virus to spread to the bronchi instead :(

So I was incapacitated again. It sucks, but that's out of my control.

Today is the first day I feel better.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on March 26, 2016, 12:17:08 pm
About the lack of updates: unfortunately that nasty virus has returned.

I went for a ride on my bike to take care of some real-life stuff, thinking I almost completely recovered, but heavy breathing caused the virus to spread to the bronchi instead :(

So I was incapacitated again. It sucks, but that's out of my control.

Today is the first day I feel better.

That stuff happens. Hopefully that means it's out of your system for another year... at least.
Simcoin is as real as it gets ;) Well, eventually it will be.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 26, 2016, 02:48:00 pm
That stuff happens. Hopefully that means it's out of your system for another year... at least.

Yep, that's what I hope for too.

One more thing I have to do is to renew my residency here, it will take about a week, after that it should be a homestretch.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 26, 2016, 03:57:16 pm
Bought a scale today, turns out I've lost 20 kg while I was sick! Or to put it in perspective: more than 1/4th of my body.

No wonder I was feeling a little bit low on energy :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 27, 2016, 03:03:19 pm
And your height? Might be a good thing after all :) For example you might be dead in a few years because of heart problems caused by overweight. And now you're totally fine, will live till 100.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 27, 2016, 03:20:58 pm
For example you might be dead in a few years because of heart problems caused by overweight. And now you're totally fine, will live till 100.

Nah, I was never overweight. On the other hand, you never know how many cancerous cells die when you lose weight.

So maybe it's for the better, indeed. And living till 100 gives me enough time to finish Sim ;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 27, 2016, 03:28:31 pm
For example you might be dead in a few years because of heart problems caused by overweight. And now you're totally fine, will live till 100.

Nah, I was never overweight. On the other hand, you never know how many cancerous cells die when you lose weight.

So maybe it's for the better, indeed. And living till 100 gives me enough time to finish Sim ;D

I'm probably gonna need to lose some weight too, otherwise I could never see the launch :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 27, 2016, 03:54:38 pm
I'm probably gonna need to lose some weight too, otherwise I could never see the launch :)

Good idea! ;D We will make "I survived Simcoin development" badges.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on April 27, 2016, 06:15:03 pm
I'm probably gonna need to lose some weight too, otherwise I could never see the launch :)

Good idea! ;D We will make "I survived Simcoin development" badges.

The first Sim immortality tokens will come with batches of philosopher's stones ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 27, 2016, 06:49:11 pm
Yer' a wizard, Harry Tim!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 04, 2016, 06:04:42 pm
If I recall well June is the month where we'll have a status update?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 05, 2016, 03:18:50 pm
If I recall well June is the month where we'll have a status update?

June? Why June? I usually post updates when there's any new information.

Right now I am a bit worried about inability to gain my weight back. Hope it's nothing serious...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on May 05, 2016, 05:11:24 pm
If I recall well June is the month where we'll have a status update?

June? Why June? I usually post updates when there's any new information.

Right now I am a bit worried about inability to gain my weight back. Hope it's nothing serious...


McDonalds and KFC are your best friends )

June was the last 'Not Release Date', or something like that, I forgot how we called it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 05, 2016, 05:31:00 pm
McDonalds and KFC are your best friends )

I know :) The problem is - I stuff as much food into myself as I can, yet the weight is just stuck at the same number. Weird.

June was the last 'Not Release Date', or something like that, I forgot how we called it.

Ah, right. I will update it closer to June then.

Everything depends on my health :(

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 05, 2016, 07:42:38 pm
Yes, health comes always first.

This weight loss seems serious, maybe you are exhausted and your body needs a lot of energy and rest.

Maybe Reishi Mushroom and Ginger can help ;)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on May 06, 2016, 10:13:32 am
McDonalds and KFC are your best friends )

I know :) The problem is - I stuff as much food into myself as I can, yet the weight is just stuck at the same number. Weird.

June was the last 'Not Release Date', or something like that, I forgot how we called it.

Ah, right. I will update it closer to June then.

Everything depends on my health :(

Gaining weight takes time, whether it's muscle or fat. The key is consistentcy. Log what you eat (calories) and your scale weight. Increase your calories fortnightly or even weekly if the scales stay the same or decrease. I can't imagine trying to gain weight quickly itself as being healthy.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 06, 2016, 01:47:49 pm
Thanks for the suggestions. I will watch it for a week or two and then, if it doesn't change, go to the doctor.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on May 07, 2016, 01:08:31 pm
Calories is the least meaningful data in the universe. It's fun to know how much heat different food gives when you put it on fire but that's basically it )
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 07, 2016, 02:50:23 pm
Just checked again: instead of gaining 0.5 kg, I lost 0.5 kg! :(

What the hell kind of illness just eats your body like that?!

Seems no point to wait any longer, going to the doctor next week.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 07, 2016, 03:02:09 pm
Just checked again: instead of gaining 0.5 kg, I lost 0.5 kg! :(

What the hell kind of illness just eats your body like that?!

Seems no point to wait any longer, going to the doctor next week.

Sorry to hear that. Hope it's nothing serious.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on May 08, 2016, 11:13:01 pm
Calories is the least meaningful data in the universe. It's fun to know how much heat different food gives when you put it on fire but that's basically it )

This is the most ridiculous thing I've ever heard. Regarding nxtchg though, a Dr sounds like the best bet. Rapid uncontrollable weight loss could be serious.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on May 09, 2016, 05:21:57 am
Calories is the least meaningful data in the universe. It's fun to know how much heat different food gives when you put it on fire but that's basically it )

This is the most ridiculous thing I've ever heard. Regarding nxtchg though, a Dr sounds like the best bet. Rapid uncontrollable weight loss could be serious.

Do you even know what 'calories' mean and how it's measured? )
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on May 09, 2016, 09:36:07 am
Calories is the least meaningful data in the universe. It's fun to know how much heat different food gives when you put it on fire but that's basically it )

This is the most ridiculous thing I've ever heard. Regarding nxtchg though, a Dr sounds like the best bet. Rapid uncontrollable weight loss could be serious.

Do you even know what 'calories' mean and how it's measured? )

It's a measurement of energy in food. It is arguably the most important half of the two essential pieces of information required for weight management aka. The currently discussed topic.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on May 09, 2016, 10:25:45 am
Calories is the least meaningful data in the universe. It's fun to know how much heat different food gives when you put it on fire but that's basically it )

This is the most ridiculous thing I've ever heard. Regarding nxtchg though, a Dr sounds like the best bet. Rapid uncontrollable weight loss could be serious.

Do you even know what 'calories' mean and how it's measured? )

It's a measurement of energy in food. It is arguably the most important half of the two essential pieces of information required for weight management aka. The currently discussed topic.

And you know it from where? Fitness tv program? :)

They put different food on fire and measure the amount of heat it produces. That's what calories it. Just read about it, dude.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on May 09, 2016, 10:59:45 am
Calories is the least meaningful data in the universe. It's fun to know how much heat different food gives when you put it on fire but that's basically it )

This is the most ridiculous thing I've ever heard. Regarding nxtchg though, a Dr sounds like the best bet. Rapid uncontrollable weight loss could be serious.

Do you even know what 'calories' mean and how it's measured? )

It's a measurement of energy in food. It is arguably the most important half of the two essential pieces of information required for weight management aka. The currently discussed topic.

And you know it from where? Fitness tv program? :)

They put different food on fire and measure the amount of heat it produces. That's what calories it. Just read about it, dude.

Wow. You are a complete idiot.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on May 09, 2016, 01:12:44 pm
Wow. You are a complete idiot.

Guys, please keep this conversation civilized and on-topic.

We wouldn't want to raise the blood pressure of our overlord any more than necessary, right? ;)

@NxtChg: I wish I could lose 0.5 kg that easily. ;D Joking aside, please get well soon!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 09, 2016, 02:45:53 pm
Wow. You are a complete idiot.

Hey, easy there.

Quote
The amount of food energy associated with a particular food could be measured by completely burning the dried food in a bomb calorimeter, a method known as direct calorimetry.

However, the values given on food labels are not determined in this way. The reason for this is that direct calorimetry also burns the dietary fiber, and so does not allow for fecal losses; thus direct calorimetry would give systematic overestimates of the amount of fuel that actually enters the blood through digestion. What are used instead are standardized chemical tests or an analysis of the recipe using reference tables for common ingredients to estimate the product's digestible constituents (protein, carbohydrate, fat, etc.).

https://en.wikipedia.org/wiki/Food_energy
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 09, 2016, 02:52:56 pm
@NxtChg: I wish I could lose 0.5 kg that easily. ;D Joking aside, please get well soon!

Yeah, many people say it would be great to eat as much as you like and not gain weight. The problem is - you also need not to lose it :)

Otherwise it feels like that guy from the Looper who kept losing his limbs in the present because they were cutting them in the past.

---

Went to the hospital today - there's a bit of a problem: since my old residency expired and I haven't officially received the new one yet, I can't go through check-up right now.

Seems I will have to wait a couple of weeks :(

Hospitals stink. Literally. I wonder how many new bacteria I got today...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 10, 2016, 05:14:12 pm
Updated wiki to the latest version and converted it from MySQL to SQLite.

Please report any issues.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on May 10, 2016, 08:17:58 pm
Haven't visited the Wiki for a long time. There is actually some info on it!
Would be interesting to have updated stats.
Those stats in the opening post, feel like being a least 1 year old.

    crypto code (95%)
    network code (80%)
    transactions code (5%)
    native Windows client (10%)
    exchange (100%)
    initial servers setup (0%)
    web client with JS signing (5%)
    forum + wiki (10%)


Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 11, 2016, 04:47:42 pm
Yeah, it would be nice, but unfortunately it's way too vague. For example, how do you factor in that it's a third rewrite? :)

My main battle at this point is with complexity. The system gets more and more complicated, and sometimes I think it's just impossible to make it any simpler :(

Yet, I am trying, because once you reach a critical level you lose understanding of how everything works together, and can't analyze it anymore.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on May 11, 2016, 05:58:27 pm
How much complexity did you remove from the first version until the third ? Is it measurable?
At what point did you chose to rewrite it the first time? Was it impossible to move on with the first design ?
Did the rewrite(s) help you improve your working speed ?

If one part works, why over-analyze it ? You can forget how everything is linked exactly. If you really need to understand you can reexamine the code.
I know, lots of questions, but sometimes a rewrite is not necessary.

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 11, 2016, 06:45:58 pm
Is it measurable?

How would you measure complexity? There are some proxy metrics, but automated code analysis is always a big PITA...

If one part works, why over-analyze it ? You can forget how everything is linked exactly. If you really need to understand you can reexamine the code.

It seems you have rather vague idea about development :)

There are no easy answers, unfortunately. The fact is, we are just too stupid for complex code.

You can use any fancy methodology to organize your code, in the end it won't matter much. There is no silver bullet.

You can only think and think and think, and try to remove complexity from how the system works, i.e. to design a simpler machine.

They often tell you: well, just make self-contained modules and specify neat interfaces between them and you're done!

Ha! That doesn't work because:
* you are constrained by performance;
* spreading code over more and more modules means you never know where something is actually happening;
* if you still push this idea to its logical absurdity, your connection map will be so complex you'll lose all your sanity!

Remember this quote?

"For every 25% increase in problem complexity, there is a 100% increase in the complexity of the software solution."
-- Robert L. Glass, "Facts and Fallacies of Software Engineering."

The problem is complex, that's the real problem :)

P.S. After two years I have to admit, I now view "toy coins" a lot more favorably. It does seem that complex systems can only be coded as "evolution", not direct design. But I still feel that Simcoin is simple enough to be designed, not evolved.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 11, 2016, 08:03:30 pm
By the way, my goal for complexity is that the whole server core fits into my stupid head.

If it doesn't fit, I can't reason about it.

If developers can't reason, you get the evolving software, which reacts only after something happened.

It will be a system (don't have to go far for examples), which will keep producing errors or suffer from attacks, and each time developers will say: "Oops, it did it again. Update all your nodes."

This is why it's important to keep the core as small as possible.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on May 13, 2016, 10:01:06 am
The fact is, we are just too stupid for complex code.

Agreed. Just some people are more suited to deal with complexity than others. You are probably the best candidate (maybe even the only candidate) to deal with Simcoins complexity. Of course your minions would like to help you with that, but I'm afraid there is not much we can do in this regard...

We can, however, assist you with the evolution of your thoughts. Mainly by translating our thoughts to relevant questions. Preferably smart questions which you haven't answered yet, but I think even obvious questions can motivate you to rethink something which might lead to new conclusions.

You say for example: "I think it's just impossible to make it any simpler". What if it is? What if you simply cannot make it more simple and you have to find a way to analyze it without putting the whole server core in your head? Could you simplify your mental model of the core? Could you perhaps split it into layers? Or could you use tools to relieve some load of your brain?

Btw, I'll spare you the question if every part of the core is really necessary to function properly. You probably think about this every day. ;)

And for the people that still have a rather vague idea about development, here is another quote: :)

"We shall do a much better programming job, provided that we approach the task with a full appreciation of its tremendous difficulty, provided that we stick to modest and elegant programming languages, provided that we respect the intrinsic limitations of the human mind and approach the task as Very Humble Programmers."
-- Edsger W. Dijkstra, "The Humble Programmer" (1972)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 13, 2016, 08:19:35 pm
Or could you use tools to relieve some load of your brain?

Visual tools would be great, but they all suck sooo much! Static code analysis tools in particular.

I thought about simply exporting some info while the program is running, and then automatically building a map of module connections, with commands it should be easy. But I couldn't find a good soft to import and visualize user's data.

No time to search, no time to write my own tool :(

----

As design is finalized, it will be much easier to fit it into a head :) Because it removes possibilities.

For now I not only need to keep the whole design in my head, but all the ideas and possible permutations of elements that are not yet finalized.

So that's a much harder task, but as elements eventually get finalized, it becomes easier and easier.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 19, 2016, 09:56:06 am
"...I remember going to the British Museum one day to read up the treatment for some slight ailment of which I had a touch—hay fever, I fancy it was.  I got down the book, and read all I came to read; and then, in an unthinking moment, I idly turned the leaves, and began to indolently study diseases, generally.  I forget which was the first distemper I plunged into—some fearful, devastating scourge, I know—and, before I had glanced half down the list of “premonitory symptoms,” it was borne in upon me that I had fairly got it.

I sat for awhile, frozen with horror; and then, in the listlessness of despair, I again turned over the pages.  I came to typhoid fever—read the symptoms—discovered that I had typhoid fever, must have had it for months without knowing it—wondered what else I had got; turned up St. Vitus’s Dance—found, as I expected, that I had that too,—began to get interested in my case, and determined to sift it to the bottom, and so started alphabetically—read up ague, and learnt that I was sickening for it, and that the acute stage would commence in about another fortnight.  Bright’s disease, I was relieved to find, I had only in a modified form, and, so far as that was concerned, I might live for years.  Cholera I had, with severe complications; and diphtheria I seemed to have been born with.  I plodded conscientiously through the twenty-six letters, and the only malady I could conclude I had not got was housemaid’s knee."


The Internet made it worse...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: lovely89 on May 19, 2016, 01:28:49 pm
Indeed
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on May 20, 2016, 06:34:30 pm
It seems you have rather vague idea about development :)

And yet it's enough to make a living from it...
If you follow an agile approach for instance there is no such thing as feature complete design.
Your task is to build something usable in each iteration.
And iterations are damn short. Max 4 weeks.
You can't create an entire project in 4 weeks. Your product necessarily has to evolve due to time constraints.

Maybe this works better for tasks where performance is not the main issue and functionality can be extended more easily. But there is no way around coming back to code you wrote some time ago and refactor, rewrite extend it...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 20, 2016, 07:28:03 pm
 
...agile...

OMG, "agile" ;D

I thought everybody successfully forgot this fad already...

What are you making, websites? :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on May 20, 2016, 07:40:29 pm
dotNet Applications for a middle sized company
and it actually makes sense for us to have quick user feedback. Which doesn't mean it always makes sense.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 20, 2016, 07:45:44 pm
dotNet Applications for a middle sized company

Well, sure, then it's fine. But for something like a coin, "agile" is absolutely unacceptable.

It's like playing chess - everything depends on how "deep" you can travel down the search tree.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on May 20, 2016, 07:52:26 pm
I thought everybody successfully forgot this fad already...

I wish that were true... People are still trying to brainwash me with it.

I usually use the 'CC' methodology: https://en.wikipedia.org/wiki/Cowboy_coding (https://en.wikipedia.org/wiki/Cowboy_coding). ;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 20, 2016, 08:03:33 pm
I usually use the 'CC' methodology: https://en.wikipedia.org/wiki/Cowboy_coding (https://en.wikipedia.org/wiki/Cowboy_coding). ;D

Ha-ha, me too :)

By the way, the "disadvantages" there are mostly BS.

Even the guru agrees: https://en.wikipedia.org/wiki/The_Mythical_Man-Month#The_surgical_team
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 21, 2016, 05:12:23 pm
A very good post, relevant to Simcoin too: http://forums.prohashing.com/viewtopic.php?f=11&t=851
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 22, 2016, 11:48:54 am
Agile can be used for large projects, as long as the project can break into smaller end-to-end testing scenarios.
But agile is better suitable for teams (e.g. 5 persons/team) and not for one/two devs.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on May 22, 2016, 01:46:49 pm
A very good post, relevant to Simcoin too: http://forums.prohashing.com/viewtopic.php?f=11&t=851

Good read indeed.

Quote
However, in bitcoin and litecoin, we have seen how the lack of an active and decisive leader and clear guidelines led to stagnation, fighting, and deadlock. Decentralized networks present great opportunities, but there will always be the need for some sort of order.

So we don't just need a great leader (referring to https://simtalk.org:444/index.php?topic=178.msg1259#msg1259 (https://simtalk.org:444/index.php?topic=178.msg1259#msg1259)), but also rules or guidelines to keep things civilized and entities to enforce this. Just like in any democracy.

Actually... this all makes sense if you look at the cryptoworld as just another society. Maybe we should stop trying to reinvent the wheel and learn more from what is already in place in the real world.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 22, 2016, 01:51:38 pm
Agile can be used for large projects, as long as the project can break into smaller end-to-end testing scenarios.

I once read a statement that made me stop and think for a moment: "testing doesn't improve code quality".
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 22, 2016, 02:10:15 pm
...but also rules or guidelines to keep things civilized and entities to enforce this. Just like in any democracy.

Democracy is a tricky business :) It puzzles me that people are still looking for some universal ethics theory. Have you stopped and asked yourself: what if the world is so complicated that you can't actually construct a single, logically-consistent ethics theory?

The main problem here is how to keep a balance: if you remove all the toxic people, you end up with a "circle-jerk", like NXT or /r/Bitcoin (which is a circle-jerk of the toxic people :) ). If you keep them, they will eventually poison your community. It's probably a full-time job, which theymos is so bad at.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on May 22, 2016, 08:24:50 pm
Have you stopped and asked yourself: what if the world is so complicated that you can't actually construct a single, logically-consistent ethics theory?

It is complex indeed, especially on large scales. On smaller scales, like in a community or in an organization, I think it is feasible. Still, it would have to leave room for people who don't agree and it shouldn't be written in stone.

Besides that, complexity shouldn't stop us from doing the best we can, right? :)

The main problem here is how to keep a balance: if you remove all the toxic people, you end up with a "circle-jerk", like NXT or /r/Bitcoin (which is a circle-jerk of the toxic people :) ). If you keep them, they will eventually poison your community. It's probably a full-time job, which theymos is so bad at.

Balance is important indeed. You won't get any further if everybody agrees with everybody and nobody is challenging anyone anymore. But I don't think you have to remove toxic people in all cases, you can also either educate or punish them. Removing should only be a last resort. Maybe they really do have a point, but the way they behave hinders the message from getting across. Maybe this behavior has a good reason, which of course cannot be an excuse, but it could explain things and perhaps it can even be fixed. Or... maybe I have too much faith in people. ::)

Anyways, agreeing on a simple baseline of acceptable behavior shouldn't be that hard for sane people. And if you don't agree... good! We can always agree to disagree, which should be included in the baseline. ;D
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 22, 2016, 09:06:19 pm
On smaller scales, like in a community or in an organization, I think it is feasible.

You missed the "universal" part. Of course you can create a theory to describe a limited set of scenarios, but given enough time, something weird will eventually happen in your little community, like the sheriff abusing his power to punish the guy who raped his daughter and got away with it; and your theory will give you no answer.

Besides that, complexity shouldn't stop us from doing the best we can, right? :)

That's the point of trying to create a universal ethics theory, because it's not always clear "what's best".

But I don't think you have to remove toxic people in all cases, you can also either educate or punish them.

Education won't work, their toxicity is caused mostly by arrogance.

Punishing is more interesting, in the sense of creating a hierarchical structure. It's the linear layout that causes a lot of problems.

A specialized Forum 3.0 software with crypto integration would help, but that's a challenge in itself...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 27, 2016, 12:08:12 pm
Got all the test results back.

The good news - they didn't find anything. The bad news - they didn't find anything.

The doctor basically washed his hands. His main idea is that my weight/digestion problems are due to stress, even though I told him I'm not stressed.

The two most noticeable things in my results are low level of lymphocytes (which, I understand, is normal after an infection) and low hemoglobin (which explains low energy and general weakness).

So I am trying to improve hemoglobin now, just to be able to function, then wait a week or two and see how it goes.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on May 27, 2016, 12:18:18 pm
Got all the test results back.

The good news - they didn't find anything. The bad news - they didn't find anything.

The doctor basically washed his hands. His main idea is that my weight/digestion problems are due to stress, even though I told him I'm not stressed.

The two most noticeable things in my results are low level of lymphocytes (which, I understand, is normal after an infection) and low hemoglobin (which explains low energy and general weakness).

So I am trying to improve hemoglobin now, just to be able to function, then wait a week or two and see how it goes.

You gotta start drink blood
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 29, 2016, 08:54:56 pm
Got all the test results back.

The good news - they didn't find anything. The bad news - they didn't find anything.

The doctor basically washed his hands. His main idea is that my weight/digestion problems are due to stress, even though I told him I'm not stressed.

The two most noticeable things in my results are low level of lymphocytes (which, I understand, is normal after an infection) and low hemoglobin (which explains low energy and general weakness).

So I am trying to improve hemoglobin now, just to be able to function, then wait a week or two and see how it goes.

Hope you can improve it man, wish you health
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on May 30, 2016, 06:16:05 pm
P.S. After two years I have to admit, I now view "toy coins" a lot more favorably. It does seem that complex systems can only be coded as "evolution", not direct design. But I still feel that Simcoin is simple enough to be designed, not evolved.

A "toy coin" in action:
https://blog.lisk.io/why-the-blockchain-halted-on-may-29th-72da7c4f7d69 (https://blog.lisk.io/why-the-blockchain-halted-on-may-29th-72da7c4f7d69)

Their whole blockchain stopped for six hours after someone used an incorrect account number in a transaction...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 30, 2016, 06:27:27 pm
A "toy coin" in action:
https://blog.lisk.io/why-the-blockchain-halted-on-may-29th-72da7c4f7d69 (https://blog.lisk.io/why-the-blockchain-halted-on-may-29th-72da7c4f7d69)

Their whole blockchain stopped for six hours after someone used an incorrect account number in a transaction...

Oh my god, what a lame error! :)

Thanks! Things like this inspire me more than anything else.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 30, 2016, 06:46:32 pm
P.S. After two years I have to admit, I now view "toy coins" a lot more favorably. It does seem that complex systems can only be coded as "evolution", not direct design. But I still feel that Simcoin is simple enough to be designed, not evolved.

A "toy coin" in action:
https://blog.lisk.io/why-the-blockchain-halted-on-may-29th-72da7c4f7d69 (https://blog.lisk.io/why-the-blockchain-halted-on-may-29th-72da7c4f7d69)

Their whole blockchain stopped for six hours after someone used an incorrect account number in a transaction...

I like Lisk a lot, but it's sad that they let such huge bug out!
Hopefully no other bug like this exists in Lisk.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 30, 2016, 07:02:32 pm
I like Lisk a lot, but it's sad that they let such huge bug out!

What's so special about Lisk? I looked at it briefly and found nothing exciting...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 30, 2016, 08:12:00 pm
I like Lisk a lot, but it's sad that they let such huge bug out!

What's so special about Lisk? I looked at it briefly and found nothing exciting...

I like the fact that DAPPs are made with javascript - it's fast, light and widely used.

Also I remember reading somewhere that sidechains scale better than some other tech, an article similar to this http://coinjournal.net/jeff-garzik-sidechains-better-bitcoin-scaling-solution-lightning-network/
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 30, 2016, 08:36:10 pm
I like the fact that DAPPs are made with javascript - it's fast, light and widely used.

It's also orders of magnitude harder to guarantee consistent execution.

But judging by the bug Titulaer posted, that's not the kind of subtlety that can reach Lisk developers mind :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on May 30, 2016, 08:39:59 pm
I like the fact that DAPPs are made with javascript - it's fast, light and widely used.

It's also orders of magnitude harder to guarantee consistent execution.

But judging by the bug Titulaer posted, that's not the kind of subtlety that can reach Lisk developers mind :)


hahaha  :P

let's hope from now on it will be stable.

We have to use other coins till SIM is ready!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 16, 2017, 11:59:52 am
Extended our address format to cover public keys and signatures too.

For example:

SIM: KIBX-73Q7-JKIB

PK: KIBX-73Q7.JJL6JK5Q47TRM46AI7XTJYGFVIAZ74MQR9UEXAVLX3JM

Signature: KIBX-73Q7.WSJAOJW9DVCFB3SCMDOJ9XZ47YCS7IK47GDLWQPLHZWWBR4XRWM9KGAPFKTV9LJID7XO5AKNLLGVG7PE339GYPLC5P3XDIDHPT6FXAEB

The nice thing is that both PK and signature are prefixed with your account ID, so you always know who signed the message and can fetch the key and verify it.

They don't use Reed-Solomon encoding, though, because they are not supposed to be typed manually. They both just use CRC-4 to save space.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: bitcoinpaul on February 16, 2017, 12:04:58 pm
ur alive!!!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 16, 2017, 12:06:11 pm
I am as surprised as you are :o
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: vader on February 16, 2017, 01:55:36 pm
ui  :D

there is still hope for a simcoin product? would be awesome!!

nice to read something about simcoin tech!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 16, 2017, 02:15:09 pm
there is still hope for a simcoin product?

No, please don't get your hopes up! The universe doesn't want me to finish it - every time I make good progress, some shit happens in my life that needs to be dealt with... As a result, I stop working on it :(

So it's better if everyone thinks it's dead and then maybe I just come here one day and say: "please help me start the test net" :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: grandpa_seth on February 16, 2017, 02:46:06 pm
So it's better if everyone thinks it's dead and then maybe I just come here one day and say: "please help me start the test net" :)

This is already how I expected it to happen in my mind. Some things you just know.

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: wizzardTim on February 16, 2017, 06:41:57 pm
So it's better if everyone thinks it's dead and then maybe I just come here one day and say: "please help me start the test net" :)

This is already how I expected it to happen in my mind. Some things you just know.

Instinct!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: kLee on February 16, 2017, 06:52:43 pm
Goro Lives  :o
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 25, 2017, 08:47:49 am
It seems I can work more or less productively again, so Simcoin development is officially resumed starting from Feb 1st.

Just for fun, here's a snippet from my to-do list :)

Week 1

 + Update SQLite to 3.16.2:
    + Recompile. Omit as much as possible.
    + Add version into DLL.
    + Integrate. Moved under "objects/sqlite/dll".
    + Display current sqlite version when opening a database.
 + vmem_pool rewritten:
    + Added a bit string to mark deleted items.
    + Properly call destructors in empty().
    + Use 1-based ID's.
    + Counter added to count allocated items.
    + BUG FIXED: empty() released (data, limit) which is wrong and should be (data, limit * sizeof(thing)).
    + Unit test updated.
 + Task system rewritten:
    + Added parameters to pass to each task on start up as text string, like command line. Useful for filenames and whatnot.
       + sim.start_task command updated.
    + Added subscription system: now only tasks that subscribed will receive related messages, not everybody.
    + Removed task level and the need to specify task id. Can still catch all using '*'.
    + Simplified a lot! 'dead' list removed. 'task_id' in TaskDesc removed.
    + Added FPU reset to default in each tick.
    + Tasks renamed into simple lowercase, for example "T_Vault" => "vault".
    + Folder structure reorganized, related files moved under respective tasks.
   + Remove 'dummy()' from Task. Also don't add the dummy task, just return 1-based ID's outside, same as you did for Pool.
   + tasks.count(name) removed.
 + Syncer setup for backup.
 + Query: move sqlite3_prepare_v2() and surrounding code into Prepared::update().
 + net::address moved into the net task.
 + Net task must re-bind socket if INI is reloaded and the address has changed.
 + BUG FIXED: 'quit' must be sent directly to task list, not via chains, otherwise you will receive it as many times as commands you subscribed to!
 + BUG FIXED: TaskDesc was inited _after_ Task::init() call, so any wake_me() calls inside Task::init() were reset.
 + BUG FIXED: Don't store additional number of rounds required for short passwords in the vault. Store base number, then add more on the fly.
 + Moved debugging code to print sizes of objects/commands from task factory into CmdLog task.
 + SQLite::create() was removed. open() modified to create DB in 'w' mode.
 + Move task source files under 'tasks' once you move the tasks into subfolders.
 + Rename 'storage' into 'ledger' and make it an object to be accessed by hot ledger on server or some client's task.
 + "ledger" task to own 'ledger' singleton.
 + Open 'w' connection first, so it creates the database if it's missing. Remove your manual file check/creation.
 + Always create missing tables in the ledger, instead of a separate create_ledger().
 + Check to make sure version is >= SQLITE_VERSION_NUMBER.
 + Added 'system' table into the ledger database.
 + Set timeout for SQLite connections: bigger one for write connection and smaller one for reads.
 + Updating whitepaper, added a section about Trust and some draft about node lists.
 + Research CRC-4, write implementation, update CRC test unit.
 + Developed and documented a text format for PK: "XBIK-7Q37.6LJJQ5KJRT74A64MTX7IFGYJZAIVQM47EU9RLVAXMJ3X". Wrote encode/decode functions for SimPK.
 + Rewriting and simplifying array template... It was a mess. 470 lines => 252 lines and constructors/destructors are now properly called!
    + Unit test updated.
 + Restored test suit for sim addresses. Tried to remove "3,2,1,0" permutation, but it turns out it gives about 5 / 14500 double deletion guesses, while no permutation gives about 70 / 14500!
   OTH, this means that if you make 14500 deletions in 70 cases vs 5 you get 2 suggestions, instead of one. Is this really worth it?
   First, it _only_ affects guessses. And most, if not all, of those double guesses confuse first vs last letter! So the address would either look
   1 letter off, or completely different:
   [YBR6-TOSA-FH6Q]: YBR6-TOSA-FH6
   *YBR6-TOSA-FH6Q
   *QYBR-6TOS-AFH6
   Wouldn't you realize that you just forgot to type the last letter?
   Aha! I found a compromise! I can permutate only the checksum, so it will only affect addresses and not keys/signatures!
   And it fits nicely, because the checksum part will be processed separately only if the flag is set!
   + So reversed order for the first 8 symbols of address was removed and replaced by direct order. The checksum (last 4 symbols) is still reversed.
 + Universal sim2bin() and bin2sim() functions to convert addresses, signatures and public keys into base32 textual representation.
    + Added a "Generalization" section to "Address Format" in wiki.
 + Modify SimAddress to work only with binary representation in int64. Scramble only checksum. Test again.
 + use bin2sim()/sim2bin() inside SimAddress to make it less cumbersome to use, i.e. all the interface function will remain, just be simple wrappers.

Week 2
 + Added first()/last() to INI for enumeration. Support empty names to return "name = value" pairs as is.
 + Developing node list...
 + Add 'self' into INI on server on vault creation.
 + Added third parameter to INI getters to allow not to set values if missing. Need this not to alter nodelist file on errors.
 + Verify address in "set vault data".
 + sim_cfg value size increased from 128 to 256.
 + Added support for enumeration into sim_cfg with first()/next() and name prefix. INI task updated to handle it.
 + I can't always wake up task in init(), for example in case of INI, because it's not yet subscribed to the commands it handles.
   So added a little hack to wake the task right after it's inited and subscribed, if needed. For that call wake_me_in(0) in init().
 + Load trusted list in supervisor via self.load_ini(). Reload on INI change.
 + If INI variable has no value - don't return empty string, just fail, including on enumeration.
 + BUG FIXED: cut first part of the vault instead of the second on loading, which emptied it and is wrong.
 + sim.vault_data.found() to test both ok() and type != '?'.
 + sim.vault_data: Key class removed, return "char *secret" if type == 'K', not raw payload with hash, which is useless and confusing.
 + Start nodelist, ledger and net tasks in server.
 + self.load_key() to fetch account from INI, then load key from the vault. Call in 'server' task.
 + Tasks: print name of the task to identify which task has failed to init.
 + str_read() as a better version of strtok(). Should have written it a long time ago...
 + Simplified INI by using str_read(). 147 => 113 LOC.
 + Tasks::subscribe() simplified by using str_read().
 + Documenting Node List format...
 + NodeList::add_to_hash() to combine all values in an array<char>.
 + Remove static buffer in Hash32 - it's too generic and so can be used from different threads. Too dangerous.
    + Replace stretch() with set(password, rounds, salt).
    + If 'rounds' < 1 - just hash it without stretching.
    + Clean up and simplify, remove PoW functions too. calc() changed into set().
    + All code updated.
 + Add "version" into nodelist, check.
 + Combine all values into hash buffer, calculate, check.
 + SimSig class. Set from string/convert into string. Test.
 + Don't load nodelist signature if the hash is not found.
 + Parse node strings in the nodelist. Read balance.
 + Move cfg reading and logging from self.load_key() outside. Instead pass the account as an argument.
 + EdKey::derive() to get another key from the master. Will need it to encrypt peers.db and probably for other things.
   Documented in wiki. Algorithm: k = master; for(rounds) k = HMAC(salt, k);
 + Since you removed stretch of binary items, restore rounds increase by password length in Hash32, and unify vault and EdKey by removing specific code from there.
 + MIN/MAX rounds in vault changed from 10K/1M to 1K/100K. Default is still 10K, only now it will be even harder, since we subtract from 42 and not 10.
 + PeersDB started. Some common pragmas moved into SQLite and are only executed in 'w' mode.
 + Peers task started. Peers object moved under the task.
 + Pass peers DB name to peers, then to PeersDB.
 + Create peers DB if empty.
 + Use self.debug. Set from INI.
 + Filter any log messages in Tasks with code '#' if not in debug mode.
 + Send all log commands to OutputDebugString().
 + T_Log: "failed" flag removed - it wasn't used.
 + ledger: read_pk() to read one or more SimPK records from the database.
 + ledger: on corruption set a flag instead of returning an error.
 + Check the flag in the ledger task and panic-quit.
 + BUG FIXED: Query::panic() should exit().
 + Rename 'ledger' table into 'accounts'. Otherwise 'ledger.db' -> 'ledger' table.
 + Add "peers.cache" INI setting.
 + Add a unit test for str_read() it is important and will be used often (already in 2 places).
 + Restore KVS. It's better than key_ring in that it can reuse memory of deleted items! In ring you can only remove from ends.
 + Added search mode to KPS::find() to be "==", ">=" or "<=". The last two return closest and allow iterating all items in order.
 + Unit-test new search modes. Took a while to debug...

 Week 3
 + Switch Peers to use KVS instead of key_ring. Add KPS index on account ID. Add head and tail for linked list.
 + 'kno' added into KVS template.
 + Add public peer in init().
 + MAX_NODES added. We should use it later to sort the nodelist by stake and only use top ones.
 + Developing the peers cache...
 + Derive PeersDB master key and nonce. Document in wiki.
 + Wiki Peers page started with database structure and encryption algorithm.
 + Decrease auto-checkpoint size for PeersDB, it should decrease the risk of long delay on saving the peer.
 + Peer::decrypt() restored.
 + PeersDB::delete_keys(from,to) to delete all peers in between last_account and new account in update.
 + ledger::load_pks() updated, using prepared statements now and LIMIT. Also added proper ORDER BY clauses.
 + Check if peers db is empty and if so - set the version. Then check the version.
 + Check keys for accounts at the top/bottom of the ledger.
 + Print node's account as both address and PK in log.
 + Move hash_buf from nodelist task into nodelist class. The hash must be handled inside!
 + Also move loading there and just pass IniFile. Set error string in case of errors.
 + NodeList::save(). Calc hash of saved entries.
   + Check return values of fprintf() to make sure it's written.
 + 'buffer' class based on array<byte> to concatenate small amounts of data. Particularly hashes in nodelist. Supports both strings and binary data.
    + Unit test for 'buffer'.
 + NodeList moved into 'objects' since it will be used to create the list in a different module.
 + Using 'buffer' inside NodeList to concatenate values for hash.
 + Hash32: support our text format, same as SimPK.
    + Modify Hash32.str() as well as SimPK and SimSig to support optional destination argument to avoid using static buffers.
 + NodeList: test that node string fits into 256 bytes on saving.
 + self.sign().
 + self.verify(msg, sz, char *sig, bool use_trusted).
 + Use self.sign/verify in NodeList.
 + NodeList::save() complete.
 + Documented reasons for a separate peers database in the wiki.
 + "peers.check" INI option to force full peers.db check/recalc at any time.
 + vmem_ring: "top"/"bottom" parameter to add new items at both ends. Unit test updated.
 + Peers: add nodes at the bottom and clients at the top of the queue (we remove from the bottom first).
 + BUG FIXED: used pop() insead of remove() in Peers to resubscribe peers if the queue is full - pop() and push() work at the same end, dummy!
 + BUG FIXED: Hash32::str() used incorrect pointer for destination.
 + Generated test nodelist with valid hash and signature.
 + Add 'day' for each node in the nodelist - derived from tx.ts.
 + Add 'home' connection points for nodes in the nodelist.
 + Store node stake in nodelist as truncated SIM. Update documentation.
 + Simplified "net_adr" class to use outside the net task. Stores ip/port as little-endian. Parses IP string manually using str_read() to avoid dependencies.
 + Document connection points (network address) format in wiki. Add list of local IP ranges.
 + Throttler class started.
 + Throttler rewritten with correct algorithm (previous was crap). Allows up to ~10 K requests/sec.
   Optimized and tested - seems pretty accurate! And it now takes only 8 bytes instead of 9!
 + Replace old throttling code by the Throttler.
 + Moved key derivation algorithm into Hash32 as harden() function. We will need it to shrink hash sizes. Documented in wiki.
 + Replaced WELL-512 random by xoroshiro128+.
 + Wake up Supervisor every 10 seconds and seed RNG there from OS.
 + Hard limit TPS for the whole systems at 1000, for example then we don't need more than 2 bytes per checkpoint tx count. Document in whitepaper!
 + Checkpoint class started.
 + Added support for incremental CRC-32 calculation. Turns out it's trivial :) Another reason to use it instead of Hash4.
   + Unit test updated.
 + Hash32::repeat(N).
 + Derive comm_id as Hash(Hash(comm_key)), not Hash(Hex(comm_key)). Documentation updated.
 + Include comm_id and packet size into Salsa's nonce. Also, new int64 NET_VERSION constant. Documented in wiki.
 + Rewrite Ledger_Hash article, it's outdated.
 + Updating Core API docs...

I need to renew my residence here and also move to another apartment (hopefully quieter one), so a couple of weeks will probably be lost.

As always - don't get your hopes up. For all practical purposes Simcoin is still dead :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on February 26, 2017, 12:25:18 am
Cool! Long breaks sometime clear the vision.

+ Hard limit TPS for the whole systems at 1000, for example then we don't need more than 2 bytes per checkpoint tx count. Document in whitepaper!
Why is it a good idea to hard limit TPS ? Is it worth adding a magic number (1000 TPS) to have this "2 bytes per checkpoint" thingy ?
Just aksing, I know nothing! Happy coding!

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: grandpa_seth on February 26, 2017, 03:02:29 am
I love you Simcoin.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 26, 2017, 07:45:26 am
Why is it a good idea to hard limit TPS ? Is it worth adding a magic number (1000 TPS) to have this "2 bytes per checkpoint" thingy ?

It helps simplify some areas of the system. You can't really design if you don't have at least some constrains, there is no such thing as a spherical cryptocurrency in vacuum :)

Even 1,000 TPS puts a lot of pressure on design decisions. Oh, how I wish it were lower... Things would be so much simpler.

Think of it this way: compare the task of building a toy "car" for your kid to "drive" around your backyard to building a Formula-1 racing car. For the first car you can use a piece of wood and nail the wheels to it. For the second car - you can't, and every tiny detail becomes a nightmare to produce because of high requirements.

The same goes for a software system. It is as slow as its slowest link, so every part must be 1,000 TPS fast. This wouldn't be so bad, but a cryptocurrency has additional requirements, such as security, and it runs in an actively hostile environment. This all makes it an insanely difficult task. I haven't put so much work in any of my previous projects and I underestimated it by about an order of magnitude...

Bitcoin now runs at ~3 TPS. And it took several years to get there. 1,000 TPS is three hundred times faster!

Besides, there is a limit to current hardware. For example, you will have hard time just verifying all the signatures in time, because you still need more resources to store those txs in the database, respond to requests, figure out consensus, etc.

Thinking above 1,000 TPS for now is just impractical.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on February 26, 2017, 11:06:56 am
Here's an example.

Suppose you want to cache incoming txs for 20 seconds. At 1 TPS you will need to store 20 txs. If you need to find a particular tx, you can simply iterate over the whole array and check every single one of them.

At 1,000 TPS you will now need to store 20,000 txs. Iterating is not an option anymore, so you have to build some sort of a fast index. If you want to be able to find txs by multiple criteria, for example sender or receiver, you need 2 indexes.

And what about memory allocation? At 1 TPS you can simply store txs in a linear array and move memory any time a tx is added or removed. You can't do this with 20,000 txs, so you need to store them differently. You also can't use native malloc() or new[], because they are slow and the overhead will waste too much resources, so now you need to build your own allocator, one that is based directly on system's virtual memory, and deal with pages.

And this is just a simple 20-second buffer!

That's how TPS complicates design.

Another reason to limit TPS is cost. If we demand from the start that each node must be able to handle 1,000 TPS, then we will need $500+/mo servers. To be reasonably reliable and secure we need at least 100 nodes. Since there is no inflation, like in Bitcoin, the users will have to cover $50,000 / mo with direct tx fees. If initially we only have 1,000 txs / mo, it will be $50 per tx! It's very hard to bootstrap a new cryptocurrency if each tx costs 50 dollars :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: kjadb on February 27, 2017, 12:13:26 am
It seems I can work more or less productively again, so Simcoin development is officially resumed starting from Feb 1st.
...

I need to renew my residence here and also move to another apartment (hopefully quieter one), so a couple of weeks will probably be lost.

As always - don't get your hopes up. For all practical purposes Simcoin is still dead :)


Great news! Slow and steady man :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: xtester on March 01, 2017, 08:16:20 pm
Glad to see you're still alive and kicking.  8)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 02, 2017, 06:58:56 am
Glad to see you're still alive and kicking.  8)

Glad to see you too. How's NEM doing?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: xtester on March 02, 2017, 08:50:23 pm
From what I can see, Nem's doing pretty well. I left the project long ago.

As the crypto space is quite full of vapourware with all the new projects, I'm looking forward to simcoin to finally materialize.  :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 03, 2017, 10:08:20 am
From what I can see, Nem's doing pretty well. I left the project long ago.

Oh, I didn't know you have left.

Yeah, judging by coinmarketcap, NEM is doing all right, especially compared to the cursed NXT..
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 04, 2017, 08:19:35 am
This is a good example of over-complicating and creating so much complexity that it's hard to understand what's really going on:

https://medium.com/@VitalikButerin/minimal-slashing-conditions-20f0b500fc6c

Every scheme, which tries to penalize validators for misbehaving, conveniently forgets that you need the same validators to take any action!

How can you say that your scheme is 51%-proof because you can apply a penalty to bad validators, if the validators are the ones required to apply that penalty? :o It's like criminals being their own jury...

And if the majority of validators are honest, then you don't need crazy, complicated schemes! It already works with a simple consensus.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 04, 2017, 08:32:45 am
The problem of bootstrapping a PoS system without any trust is unsolvable in principle!

Precisely because there is no connection between abstract numbers inside computers and the real world (the problem that Satoshi solved with PoW).

So any PoS system will operate on one condition only: that at any single time the majority of current validators are honest.
 
End of story.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: xtester on March 14, 2017, 07:36:39 pm
How's your health? Getting better?

Are things moving forward with simcoin? :)

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 15, 2017, 06:10:21 am
Last week I was completely focused on moving into the new apartment and next week will probably be focused on extending my residency permit here.

So busy can't even find time for running :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 22, 2017, 03:13:43 pm
I wonder if it might be a good idea to start test net with tokens which are worth something?

For example with 1 billion TEST SIM which is worth 1 BTC.

This might incentivize people to use the test net and still if there are bugs or losses, they will be very small.

Sort of like a toy version of Simcoin :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on March 22, 2017, 03:34:24 pm
Sim doesn't worth a lot at the moment. What if you just start 0.1 version. If there are some real bad bugs, price won't go any lower anyway )
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 22, 2017, 04:16:47 pm
No, this is not good. In case there are some major screw ups.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on March 22, 2017, 04:51:45 pm
1 BTC worth 1B coins sounds like fun. Nobody done it before. I'd day go for it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 22, 2017, 04:57:01 pm
1 BTC worth 1B coins sounds like fun. Nobody done it before.

Yeah, that's the point - we can all go wild and test the system in whole bunch of ways, as if we are all billionaires :) And yet the tokens will have some meaning.

And the fact that nobody has done it before is also good - we should strive to innovate all the time. To paraphrase Andy Grove: only the innovators survive :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 22, 2017, 04:57:52 pm
By the way, the slack became more or less alive again, you're welcome to come back :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: eXtatiC on March 22, 2017, 05:35:04 pm
By the way, the slack became more or less alive again, you're welcome to come back :)

Glad to see you alive and convalescent.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on March 25, 2017, 07:10:06 am
(https://simtalk.org:444/img/imaginary-scaling-issues.jpg)

That's what I am probably doing most of the time :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: bitcoinpaul on April 08, 2017, 05:17:52 am
Lets test this shitcoin  8)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 08, 2017, 06:20:49 am
Lets test this shitcoin  8)

Always enjoyed your ability to lower the level of discourse.

I guess now that you won the Oscar, you can look down at us mortals even more...

Drop by our slack sometime, we will roll out the red carpet for you.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: bitcoinpaul on April 08, 2017, 06:24:18 am
Drop by our slack sometime, we will roll out the red carpet for you.

I certainly will.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2017, 09:13:36 pm
Updated Simcoin distribution:

(https://simtalk.org:444/img/distribution-2017-04-13.png)

Blue is old, red is new.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 17, 2017, 03:18:11 pm
Spent almost the whole day today trying to hunt down a very nasty issue:

(https://simtalk.org:444/img/time_sync_issue.png)

All nodes quickly arrive at the same time value, but then it starts slowly drifting, but not forever - just to some new fixed value, and then the drifting stops dead.

This only happens when there are permanent connectivity problems between some of the nodes. Weird.

It doesn't help that to simulate 40 hours of real time with only 12 nodes it takes about 5 minutes of calculation.

In that time the simulation handles 275,248,577 packets of network traffic, each with its own unique ping/jitter and produces an enormous amount of data to sift through...

Haven't found the cause of this yet.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 26, 2017, 11:51:42 am
Hm, Medium seems like a nice platform with lot of things done right... No wonder it's so successful.

https://medium.com/@nxtchg/testing-medium-417e310144d4

Maybe I should cross-post there...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 07, 2017, 06:53:18 am
While Bitcoin rate is good it makes sense to start paying bounties again.

Post your ideas.

One of the things we need is a nice main Simcoin website.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on May 07, 2017, 11:06:23 am
I'd focus on Bitcointalk thread first. It's able to bring hell of a lot people in a coin, send coin price to the moon. Then you can pay bounties in Sim and spend much less. Nice logo and good looking active thread with some people that's what we need.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 13, 2017, 10:21:26 am
simcoin.info will be unavailable later today for some time as I move it to another server.

Next in line for migration: simtalk and simxchg.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Harri on May 21, 2017, 06:37:49 pm
Hey NxtChg,

I have not been around here for some time. Great to see that you are still working on the project.

As dzarmush said, a nice thread on Bitcointalk would be good to get some attraction for this great project.

Greetings from Germany,

Harri
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on May 21, 2017, 06:47:59 pm
I occasionally repost things there, but in general I don't think that most people there are the kind of users we should go after.

In any case, anyone is free to start their own thread there. We should move in the direction of decentralization anyway.

I can't do everything by myself.


P.S. Welcome to the forum!
Title: Simex v1.0 released
Post by: NxtChg on June 04, 2017, 07:46:50 am
Simex: Simcoin Chrome browser extension released:

(https://simtalk.org:444/img/simex-v1.png)

https://simtalk.org:444/index.php?topic=205
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 07, 2017, 08:47:09 am
Simex on Google: https://chrome.google.com/webstore/detail/simex/ickalofnnogbekgmemmdbhakcibkohmb
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 24, 2017, 08:19:40 am
Progress report
(Jun 24, 2017)

(https://simtalk.org:444/img/work-hard.jpg)

The last few weeks I switched my attention from the server to the client. I hoped some other developers would join Simcoin and build it, but this hasn't happen so far. So it seems I will have to do it myself.

The idea was to embed a browser into a native app and then use simcoin.dll from Javascript. The original client was written in pure JS/HTML and it proved quite difficult to make, because modern wallets are pretty complicated.

Recently I discovered Vue.js (https://vuejs.org) - a simple yet very powerful framework - it should make building the client much easier.

Vue allows splitting work into small, independent components, and there's already a ton of them. I also started building/outsourcing my own components, you can see some of them here: https://github.com/NxtChg/pieces

I also created Vuepack (http://vuepack.org): a simple tool that allows you to select any components you need and then save them as a single, minified JS file.

Another breakthrough was realization that there is not much sense in embedding the browser into a native app: JS is very fast and flexible nowadays, so why don't just use the browser already installed in user's OS?

This has several major advantages:
I need to think more about how to handle vaults now, but it's probably solvable. The app should allow the user to save the vault locally at any time as base64 string and prompt him to do so when new private keys are added.

As for the local data - browsers nowadays provide localStorage and IndexDB, which should be enough since our client is not supposed to download the whole transchain.

The key piece of the puzzle, though, is porting all the cryptographic functions to JS. Some were ported before as bounties, some I found on the Internet, and we're currently working to port the most important part - Ed25519 signatures - to JS, and it's about halfway done!

There are also other things going on behind the scenes, which will be announced later. If you don't see me hanging out on the forum or Slack too much, it doesn't mean the work has stopped :)

----

Another thing: you probably already know about Simex (https://simtalk.org:444/index.php?topic=205.0): a Google Chrome browser extension that makes it easier to follow our exchange and forum.

----

There is a lot of noise and frenzied activity in cryptoland these days: people rush barely working prototypes to the market, hype them, raise huge amounts of money, then either disappear or fail miserably.

If you are a developer who values simplicity and wants to do some real work, which will last and has the potential to change the world - you are welcome to join!

There's plenty of bounties available or you can start your own Simcoin-related project. There's also lots of opportunities to learn and grow as a programmer.

It sure as hell will take me too long if I have to do everything by myself...

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 24, 2017, 03:07:56 pm
Why don't you start round two of fund raising? It wasn't planned at the beginning but first of all you're free to do whatever you want with the rest 60% coins and second we can vote if you want to know our opinion.
You could put another 200M on ICO for example.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 24, 2017, 03:39:09 pm
Why don't you start round two of fund raising?

I don't think it's a good idea and will be popular. But even if we did it, there's simply not enough interest in Simcoin right now to raise any significant amount of money.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 24, 2017, 03:46:14 pm
Why don't you start round two of fund raising?

I don't think it's a good idea and will be popular. But even if we did it, there's simply not enough interest in Simcoin right now to raise any significant amount of money.

You'd have to build it of course. Make a great presentation of the project, completed milestones, write a roadmap, make a website, run a signature campaign etc. Projects with zero achievements raise good money, I don't see why a half completed project can't do the same. Especially if you release working beta first.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 24, 2017, 03:49:50 pm
Especially if you release working beta first.

We just discussed this today with s11made on Slack, you might want to read that discussion.

By the way, when we do sell from the 600 M, we should probably sell futures, i.e. the coins won't  be available until a certain date in the future, or maybe even will only be available at a certain rate. This avoids flooding the market.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 24, 2017, 09:06:50 pm
To be honest I see one and only problem with the second round of crowdfunding. Since tokens are already tradable on simxchg.com, instead of buying ICO tokens people would just go there and buy from first round investors.

All other stuff... It feels like you overthink everything. What would scammers do, how people would react of that etc. You've got your project which you want to finish and you probably need money to do it. I'd say you first need to decide how much time and money you need to finish Sim in foreseeable future and then decide how to achieve it. Everything else doesn't really matter.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on June 24, 2017, 09:22:37 pm
All other stuff... It feels like you overthink everything.

Exactely This!!
Just concentrate on releasing the core, with basic CLI or a dll that can be added to a project or whatever...
There will be someone interested in integrating the .dll and creating a wallet...

Why bother about scammers ?
It's a compliment if they come because it shows that this coin is worth their time...
You can't prevent scammers to take a look at simcoin by delaying a release... It makes no sense to even care about them.

Talent follows the money ! Have a look at Ethereum. It can't scale as it is now. Yet, it was hyped and money flowed into it...
Now many talented people think about solutions how to make it scale. They sold a vision. And had a semi working prototype... That was enough to attract money. And money attracted talented people.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 24, 2017, 09:38:22 pm
I'd say you first need to decide how much time and money you need to finish Sim in foreseeable future and then decide how to achieve it. Everything else doesn't really matter.

And money attracted talented people.

So you think it's that simple, huh? "Just get more money". And then - puff - everything is somehow solved?

Meanwhile all of you just continue silently reading my posts without any involvement, waiting for me to magically do everything.

Oh-key.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 24, 2017, 09:45:36 pm
Meanwhile all of you just continue silently reading my posts without any involvement, waiting for me to magically do everything.

Pretty much, yeah. But what can we do? Even if we wanted to spread the word, there's no place describing Sim to point people to. This one won't work https://simtalk.org:444/index.php?topic=6.0

You need to explain what Sim is, why it's worth to work on and invest in. When it's going to be released. What's done already. Roadmap. Let's say I want to bring some people in Sim, not devs, just regular crypto investors. I won't be able to explain why should they consider it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 24, 2017, 09:48:55 pm
I started thinking on Bitcointalk thread. How could it look. Logo and stuff. But the thing is I don't have any information about Sim except that it'll have 1 second transaction time. And nobody except you can write it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 25, 2017, 07:25:11 am
But what can we do?

That's a good start. Every investor should start asking himself that very question, if they want it released sooner than 2024.

I have 170 followers on Twitter. You know how many like or re-tweet my tweets? One or two, and only occasionally.

What the hell? Who are all those other people? Why are they even following me?!

It feels like 99% of investors have given up on this project because of a limited attention span that can't stretch to a couple of years...

I get your point about providing more information and I plan to start communicating more.

But you, people, need to start getting involved too.

This is a decentralized project, after all.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 25, 2017, 08:47:00 am
You're communicating just fine. More then most of lead devs probably. We only need some kind of generalized info about Sim.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 29, 2017, 07:47:10 am
I will keep re-tweeting my posts until people either unfollow me or start re-tweeting.

I've been busting my ass on this project for 3 years and you can't spare two mouse clicks?!

Do you want to see your stake go higher? Is two mouse clicks too much to ask?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 29, 2017, 02:55:30 pm
That's better, minions :)

At least some of you are still interested to see this project completed.

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 29, 2017, 03:13:32 pm
I don't use twitter. Otherwise I'd be re-posting every post over and over again )
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 29, 2017, 03:24:42 pm
I don't use twitter. Otherwise I'd be re-posting every post over and over again )

Maybe you should start then? :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on June 29, 2017, 03:35:17 pm
I don't use twitter. Otherwise I'd be re-posting every post over and over again )

Maybe you should start then? :)

Good point )
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on June 29, 2017, 03:36:27 pm
By the way, about Simcoin info - I am thinking about moving the wiki to GitHub, because Wikimedia engine is an overly-complicated behemoth that adds a lot of overhead:

https://github.com/NxtChg/simcoin/wiki

Just need to make sure GitHub's markdown is advanced enough to support all the docs...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on August 04, 2017, 01:04:17 pm
Ed25519 port to Javascript is basically finished.

Doing some serious optimizations now: the next version is 100 Kb smaller (x4 reduction in size) and 20 times faster!
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: highscore on November 22, 2017, 10:00:12 am
What about the simcoins? I still keep part of it!  :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: alope on November 29, 2017, 03:52:04 am
What about the simcoins? I still keep part of it!  :)

Me too. I like the simcoin transaction concept.  Dev will the airdrop function in bitcointalk? They can make more people follow this project.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on November 29, 2017, 06:29:15 pm
The problem with Simcoin is that by now pretty much everyone has given up on it :(

Nobody helps with anything at all. And you can't build a decentralized cryptocurrency all by yourself.

So I am trying a different approach: I am trying to get as many small projects done as possible in order to get more exposure, and maybe attract more people and find good developers.

Another reason is to try and earn enough money to buy back SIM tokens. I would need about $300 K for that (I want to buy back at 3x the initial price, 100% return for each year of waiting).

Then we can do a real ICO to get a few millions, but that would require something working, so still need more developers.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: alope on December 12, 2017, 03:18:23 am
The problem with Simcoin is that by now pretty much everyone has given up on it :(

Nobody helps with anything at all. And you can't build a decentralized cryptocurrency all by yourself.

So I am trying a different approach: I am trying to get as many small projects done as possible in order to get more exposure, and maybe attract more people and find good developers.

Another reason is to try and earn enough money to buy back SIM tokens. I would need about $300 K for that (I want to buy back at 3x the initial price, 100% return for each year of waiting).

Then we can do a real ICO to get a few millions, but that would require something working, so still need more developers.

Got it. If you do the real ico project. You don"t need buy back , i think you can accept the sim token to invest.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: mcjavar on December 18, 2017, 07:10:06 am
The problem with Simcoin is that by now pretty much everyone has given up on it :(

Nobody helps with anything at all. And you can't build a decentralized cryptocurrency all by yourself.

So I am trying a different approach: I am trying to get as many small projects done as possible in order to get more exposure, and maybe attract more people and find good developers.

Another reason is to try and earn enough money to buy back SIM tokens. I would need about $300 K for that (I want to buy back at 3x the initial price, 100% return for each year of waiting).

Then we can do a real ICO to get a few millions, but that would require something working, so still need more developers.

I'd be happy to get my initial investment back

1NwimTwTAkEcisvSK39WV3u24NpmQJ1szb
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 08, 2018, 05:24:45 pm
Today marks 4 years since the first announcement of Simcoin on Bitcoin Talk forum...

Four. Years. This saga needs to end...

(https://simtalk.org:444/img/4-years-01.png)

*  *  *

My foray into Bitcoin Cash wasn't particularly successful. It just reminded me why I started Simcoin in the first place.

Frustrated that there is currently no chain for which I would like to build my own projects, I thought: heck, what if I just rewrite Bitcoin, but make it absolutely dead simple?

But then I thought: wait a minute! I already have a coin in progress :) What if instead I created SimToy? Something I should have started with, you know...

For a while I was thinking how I would design a dead-simple PoS coin, and that gave me a lot of ideas about how to simplify Simcoin further and what features I can remove and reintroduce later.

*  *  *

So it seems that the only feasible way forward is to scrap most of the complicated code, go back to the drawing board and start the journey from the beginning.

I now have 4 to-do text files (for each year 2014-2017). They total to 164 Kb (the size of a small book) and have the combined length of 3,483 lines.

The total amount of all .txt files is well over 1 Mb... Wiki database is 16.

It's sad to throw away most of it, but hopefully I will be able to reuse some parts later.

*  *  *

(https://simtalk.org:444/img/4-years-02.png)

New design relaxations:

I would still like to have native tokens in v1.0, since tokens proved to be very important, but we'll see how it goes.

If you have particular ideas you are interested in seeing implemented, I'd like to hear them. It's better to anticipate future design requirements as early as possible.

*  *  *

Another idea I am considering is increasing the total supply of coins to 1 trillion, because it was also proven that market cap can quickly shoot through the roof.

Combined market cap for all cryptos was already half a trillion dollars recently. Bitcoin market cap alone was close to 200 billion. So it's not unreasonable to expect valuation in billions.

If we leave the 1 billion supply, we would have to deal with the stupid 0.0001 prices again.

1 trillion gives us 0.01 resolution and the maximum tx amount of 1 billion SIM.

My goal was always to achieve dollar parity, because it seems like the most convenient level or prices - not too much, not too little.

So the idea is to put 1 trillion into storage and release from it as popularity grows to maintain a stable price level.

Initially, only the same 400 M will be available, so nothing changes, except the future.

*  *  *

These 4 years I've always put Speed as the top priority and it was one of the big mistakes.

From now on I will return Simplicity to the top, where it belongs.

This will be the fourth, and final, rewrite.

(https://simtalk.org:444/img/4-years-03.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 10, 2018, 05:55:11 pm
Not sure if you are being sarcastic or if this is a real plan?

Basically what you say is:
Instead of >1000tps , you will have 4 tps
Instead of < 1s , you will have 60s
Instead of 40% coin distribution, you will have 0,04% coin distribution

This sounds like the worst trade deal in history...
Or the most crazy "dream" vs "real life" spec szenario.

In case you are for real, there are tons of 4tps 1min coins.
You'd be more centralized than Ripple. And no company would do business with an anonymous dev.
I can't imagine any community to build around a centralized coin where 1 developer controls 99,96% of the total supply.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 10, 2018, 06:10:45 pm
You misunderstood him. Everybody will be holding the same percent of coins after the supply is increased. But 60 sec instead of 1 is not great. It was amazing marketing point which will be gone.

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2018, 09:15:18 pm
Everybody will be holding the same percent of coins after the supply is increased.

No, actually, he is correct. The idea is to just increase the possible max total supply, but not distribute it right away. So in the future we won't have to deal with 0.001 prices.

But 60 sec instead of 1 is not great. It was amazing marketing point which will be gone.

I thought about it a lot, and I think this ultimately doesn't matter. All the coins have pretty much the same claims of thousands of TPS and "instant" transactions.

It's not like one of them is gonna win just because of that.

Anyway, see my answer below.

In case you are for real, there are tons of 4tps 1min coins.
You'd be more centralized than Ripple. And no company would do business with an anonymous dev.
I can't imagine any community to build around a centralized coin where 1 developer controls 99,96% of the total supply.

I obviously don't plan to control that amount, I am not an idiot. The amount will be locked in the system with a scheduled release or release controlled by some form of a governance process.

The technical limits I stated are just for version 1.0. They can be improved further. The TPS can grow. Confirmation time can be improved by building another mechanism on top of 1-min blocks and can be decreased to 1 sec later.

These relaxations are needed to release a simple version and then start improving it, because it proved to be impossible for me to build a complex system from scratch.

I scoffed at "toy coins" and I was wrong. Well, partially wrong, I still think more effort should be spent on initial design of coins...

When I think what might make a coin successful, I keep thinking about XML vs JSON. Every crypto right now is XML, we have no JSON yet. That's why I think Simplicity should be the primary goal from which performance and security will follow.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 10, 2018, 09:59:58 pm
Everybody will be holding the same percent of coins after the supply is increased.
No, actually, he is correct. The idea is to just increase the possible max total supply, but not distribute it right away. So in the future we won't have to deal with 0.001 prices.

So it means in the end for about 7 btc I put into Sim I'll get some dust instead of a pretty solid bag? ) That's a bold move. Would be the first ICO when you buy a lot of coins but finally get nothing.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2018, 10:13:14 pm
So it means in the end for about 7 btc I put into Sim I'll get some dust instead of a pretty solid bag? ) That's a bold move. Would be the first ICO when you buy a lot of coins but finally get nothing.

Nothing will change at the time of release - the exact same 400 M will be available, so your share of the total supply will be the same.

But gradually the supply will grow and maybe in 10 years your stake will be significantly smaller.

But. It would also be quite unfair if for 7 BTC (~$4.5 k) you got 20 million dollars. That's 453,514% ROI if my math is correct :) People would scream bloody murder for that kind of "premine" :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 10, 2018, 10:43:49 pm
So it means in the end for about 7 btc I put into Sim I'll get some dust instead of a pretty solid bag? ) That's a bold move. Would be the first ICO when you buy a lot of coins but finally get nothing.

Nothing will change at the time of release - the exact same 400 M will be available, so your share of the total supply will be the same.

But gradually the supply will grow and maybe in 10 years your stake will be significantly smaller.

But. It would also be quite unfair if for 7 BTC (~$4.5 k) you got 20 million dollars. That's 453,514% ROI if my math is correct :) People would scream bloody murder for that kind of "premine" :)

7 btc at some point was (and most like will be again) almost 150 thousand dollars. Sim should be in top 100 coins by market cap to give 1000% profit. For 3 years hold it's not that much. That money could be invested in almost any other coin to make 10000% profit by now.

If one day Sim reaches $1B market cap and it has 1 trillion coins by then I'll lose 80-90% of my investment. Its market cap should be $10B just to make it even for me and $100B (current BTC market cap) to give me 1000% profit.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2018, 10:53:26 pm
If one day Sim reaches $1B market cap and it has 1 trillion coins by then I'll lose 80-90% of my investment. Its market cap should be $10B just to make it even for me and $100B (current BTC market cap) to give me 1000% profit.

I think your math is incorrect. To get into 100 coins, which is not unreasonable, the market cap needs to be $100 M, in which case your 20 M SIM will be equal to $5,028,840. This would be 111,752% ROI on your investment.

Probably because you are calculating market cap by the total, instead of available supply?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 10, 2018, 11:09:29 pm
If one day Sim reaches $1B market cap and it has 1 trillion coins by then I'll lose 80-90% of my investment. Its market cap should be $10B just to make it even for me and $100B (current BTC market cap) to give me 1000% profit.

I think your math is incorrect. To get into 100 coins, which is not unreasonable, the market cap needs to be $100 M, in which case your 20 M SIM will be equal to $5,028,840. This would be 111,752% ROI on your investment.

Probably because you are calculating market cap by the total, instead of available supply?

1B coins – $100M market cap – price of one coin is $0.1
I've got 18M coins which would be $1.8M which is only x12 from my investment.

And all of it only in case Sim with 1B supply gets to top 100 which isn't easy and not guaranteed at all. With 1 trillion coins all initial investors could just forget about their coins and move on.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2018, 11:15:59 pm
1B coins – $100M market cap – price of one coin is $0.1
I've got 18M coins which would be $1.8M which is only x12 from my investment.

Initial supply will be 400 M, this was set from the very start.

So one coin will be worth $0.25 = $4,500,000 for you. This gives you 1000x back = 100,000% ROI. Not bad.

Overall I must say, it seems people got absolutely unreasonable about their returns. I don't think even drug money would be nearly that profitable...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2018, 11:17:49 pm
and not guaranteed at all

LOL, so not only you expect 100,000% return, but also some sort of a guarantee? :)

Come on...

I've got 18M coins which would be $1.8M which is only x12 from my investment.

7 BTC at the time of ICO was ~$4500, so it's 400x, not 12x.

The fact that BTC was pumped to ridiculous heights has nothing to do with it. You can't measure your investments by the most profitable instrument on the market.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 10, 2018, 11:40:06 pm
and not guaranteed at all

LOL, so not only you expect 100,000% return, but also some sort of a guarantee? :)

Come on...

I've got 18M coins which would be $1.8M which is only x12 from my investment.

7 BTC at the time of ICO was ~$4500, so it's 400x, not 12x.

The fact that BTC was pumped to ridiculous heights has nothing to do with it. You can't measure your investments by the most profitable instrument on the market.

Why not. If I just hold my BTC instead of investing it in Sim I'd have $150K by now. And by investing them in a random coin from top 100 I'd most likely have $1.5M by now. Unreasonable or not but a simple fact.

I don't see how you can increase supply 1000 times and make it look fine. There should be some really thought out rules for releasing new coins and they should be really profitable for those who hold coins throughout all the upcoming years. Otherwise there's not a single reason not to dump as soon as possible and not buy a single coin ever if it is having 10000% inflation a year. How could you even come up with such idea?..
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 10, 2018, 11:54:37 pm
Why not. If I just hold my BTC instead of investing it in Sim I'd have $150K by now. And by investing them in a random coin from top 100 I'd most likely have $1.5M by now. Unreasonable or not but a simple fact.

Wait, so you are comparing your investment to what you could have got if you had a time machine?!

I don't know how to respond to this, honestly. If you have a time machine, go back, put all your money into BTC, that's what I would do too.

If you don't have a time machine, then what's the point of such comparison?

It's like going to a shareholder meeting of a penny stock company and complaining about share price being too low because "you would have got a lot more money if you invested in Apple stock 10 years ago instead".

I don't see how you can increase supply 1000 times and make it look fine.

By not releasing it immediately? As I said, initially the situation would be exactly the same - 400 M available. Why is it important what will be there in 10 years? If Simcoin takes off, in 10 years it will be worth hundreds of billions, if not, then the situation is absolutely the same as was promised from the start.

if it is having 10000% inflation a year

It all depends on how we will release it. I would like to see maintaining dollar parity as popularity grows. The exact mechanism is not yet clear, but this is the goal. So the total supply might not even be released at all in the foreseeable future.

I showed you that it's not unreasonable to expect 100,000% ROI. If that's not enough for you, then I don't know what to say, really. That's some astronomical-level greed there.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 12:09:39 am
It all depends on how we will release it. I would like to see maintaining dollar parity as popularity grows.

Why would anyone want to buy Sim if you won't let the price go higher by releasing new coins? And if the price go down you can't take those coins back which makes everything even worse.

I showed you that it's not unreasonable to expect 100,000% ROI. If that's not enough for you, then I don't know what to say, really. That's some astronomical-level greed there.

100,000% ROI? What are you talking about? Sim market cap (with 400M supply) has to be 120,000 BTC (840 billion dollars) to bring 100,000% ROI to initial investors.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 12:27:38 am
Why would anyone want to buy Sim if you won't let the price go higher by releasing new coins?

I think you're confusing cryptocurrency with a ponzi scheme.

Seems like Bitcoin skewed many brains into "HODL and get richer and richer" mentality...

Why do you buy US dollars? Not only they didn't grow in price, they lost 96% of their purchasing power.

100,000% ROI? What are you talking about? Sim market cap (with 400M supply) has to be 120,000 BTC (840 billion dollars) to bring 100,000% ROI to initial investors.

84 million, not 840 billion. Something is definitely wrong with your math.

143 BTC x $600 = $85,800 invested

85,800 x 1000 = $85 million market cap
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 12:32:15 am
120,000 BTC (840 billion dollars)

There's your problem, you're doing it again - comparing to what you would have got if you had a time machine.

How about you go to the bank and tell them they owe you $100 M now because you could have taken your bank deposit and invested it in Bitcoin 7 years ago?

And then go to the supermarket and tell them they owe you 50 trucks of food, because instead of buying that one basket you bought 7 years ago you could have invested that money in Bitcoin instead.

Should I continue or is the ridiculousness of your comparison finally clear?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 12:34:29 am
143 BTC x $600 = $85,800 invested

So from your point of view Sim investors already got 400% ROI? It doesn't matter that Sim price went 70% down from 35 to 10 satoshi because BTC went 1200% up, so in dollars we're all in a huge profit! Nice logic.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 12:42:16 am
120,000 BTC (840 billion dollars)

There's your problem, you're doing it again - comparing to what you would have got if you had a time machine.

How about you go to the bank and tell them they owe you $100 M now because you could have taken your bank deposit and invested it in Bitcoin 7 years ago?

And then go to the supermarket and tell them they owe you 50 trucks of food, because instead of buying that one basket you bought 7 years ago you could have invested that money in Bitcoin instead.

Should I continue or is the ridiculousness of your comparison finally clear?

Dollar ROI is not relevant because it all goes from BTC growth. We invested in Sim in BTC and the price was 0.00000035 BTC per coin, it's all that matters.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 11, 2018, 07:44:30 am
I can tell you how people invest in Crypto.(where 100% of supply exists from the beginning)
1) They have a look at current suplly.
2) They have a look at total supply.
3) If "current supply" Not Equal "total supply", they won't invest.

Unless there is mining Or you are Ripple or Stellar with a huge marketing budget and backed by banks.

If i see total supply 1trillion and current supply 400million, I would NEVER EVER EVER invest, no matter how good the product is.
Many startups dilute their stake. but from 40% to 0.04% is ridiculous.

I always thought you were some kind of a genious geek.
If you however fail to see that this dilution changes EVERYTHING, you are probably still a genious geek, but lacking a huge amount of common sense in some areas.

I don't want to attack you, but I want to tell you, that investing into this coin (which holds 99,96% of incertainty how distribution is done) makes NO SENSE anymore.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 11, 2018, 08:06:13 am
Let me try to explain my view and give some examples :

A coin where only 0.04% of its total supply is distributed will have a very low marketcap. (even skycoin has 8% of its coins distributed)

A coin will most likely only be noticed once its distribution is complete ( Raiblocks had its distribution going for 2 years and got hyped only 1 month after the distribution was complete)

Any kind of uncertainty (like not distributed supply) will affect the price in a negative manner.

Calculating an ROI is always in the invested Currency.

If you invest USD to buy stocks, you calculate ROI for your invested USD
if you invest BTC to buy tokens, you calculate ROI for your BTC.
If you use USD to buy venezualian bonds with 25%interest p.a you calculate your ROI in USD and not in Bolivar. Because after 1 year you have 25%more Bolivar. But like 80% less USD...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 08:27:18 am
Dollar ROI is not relevant because it all goes from BTC growth. We invested in Sim in BTC and the price was 0.00000035 BTC per coin, it's all that matters.

I do not understand this logic at all.

Try going to your bank and demanding that they increase the interest rate on your savings account to 100,000% because "you could have invested this money into Bitcoin 3 years ago instead". See the look on their faces.

You invested _value_ into an asset that has no obligation whatsoever to match any other asset. You will get the _value_ back once you sold the asset. The difference between these values is your ROI. Bitcoin price is absolutely irrelevant here. You've invested in SIM, not BTC.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 08:34:15 am
A coin where only 0.04% of its total supply is distributed will have a very low marketcap. (even skycoin has 8% of its coins distributed)

This is absolutely not a fact. Market cap depends on the available supply.

A coin will most likely only be noticed once its distribution is complete.

Again, pure speculation.

Any kind of uncertainty (like not distributed supply) will affect the price in a negative manner.

I think you too are confusing a cryptocurrency with a ponzi scheme. Bitcoin spoiled you all to be addicted to ponzies...

You don't buy dollars expecting them to constantly go higher and higher. Because money is not stock. Money itself is not an investment, it's a mechanism for investments.

What you did invest into is me as a developer creating something. Once the coin is created you will get a decent ROI, as I already showed. Actually, probably way more than "decent". After that, why would you think of a coin as an investment? As I said, Bitcoin spoiled you all...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 08:37:11 am
If i see total supply 1trillion and current supply 400million, I would NEVER EVER EVER invest,

And _how_ the total supply will be distributed will have absolutely no effect on your decision? Is that smart?

no matter how good the product is.

Is that smart too? Are you interested in the product or getting ridiculous amounts of money back from your "investment", which is actually not an investment at all but a ponzi scheme (selling to people who come after you)?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 08:47:46 am
Calculating an ROI is always in the invested Currency.

Really? Who told you that? Why on earth would you calculate ROI based on something floating with no base in reality?

You calculate ROI in _value_. If you invested in something in USD and USD lost 50% of it's value, your ROI in USD might be high, but you will still lose _value_ and will have a negative return. So calculating in USD makes absolutely no sense without comparison to the value.

The only reason why we do it, is because investments are usually relatively short and USD is pretty stable.

Still, any serious investor takes inflation into account when making his decisions.

So your claim is pretty much ridiculous and any serious investor would laugh at it.

You, ponzi junkies, think of yourself as "investors" all of a sudden, but have insanely primitive understanding of economics.

This is the main problem. You people are not investors. You are ponzi junkies. It might be unpleasant to hear, but you need to look into the mirror and face the reality.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 11, 2018, 09:21:53 am
If i see total supply 1trillion and current supply 400million, I would NEVER EVER EVER invest,

And _how_ the total supply will be distributed will have absolutely no effect on your decision? Is that smart?

9/10 Startups fail. So i need to look for startups that I believe can yield at least x10 my initial bet.

I invested in _you_ and your initial plan_ .
- 40% supply for investors funding you development time.
- 60% supply for you, up to you what to do with it and how to distribute it.

What changes now, is that chances of a positive ROI shrinked drastically by owning 1000x less than initially defined.

See all these Tokens that have nice claims but build on EC20. Didn't buy a single one because I don't believe they will succeed and yield x10. And once they do succeed, there is plenty of time to invest and make a profit while they grow.

Did you read the Venezuela Bond Bolivar example?
It explains well why I  evaluate in the currency I invested in.

Speculations?
Find one coin with a current supply of <0.1% in those top200 coins. You won't.
The entire crypto market is pure speculation and no real investor would invest in any of it...

Uncertainty doesn't affect the market? Fear of a crash because X and Y. That's what incertainty is. And it sure does affect the market. Any market.

Maybe you could explain how you imagine the distribution and who would profit from the remaining 99.96%.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 09:32:59 am
9/10 Startups fail. So i need to look for startups that I believe can yield at least x10 my initial bet.

And I gave you a reasonable example that you will probably get x1000. But apparently it's still not enough for you, guys...

I invested in _you_ and your initial plan_ .
- 40% supply for investors funding you development time.
- 60% supply for you, up to you what to do with it and how to distribute it.

What changes now, is that chances of a positive ROI shrinked drastically by owning 1000x less than initially defined.

Again, this depends on _how_ exactly the supply will be distributed, don't you think?

At the time of the release the same 400 M will be available, so nothing changes and you can dump your coins onto people that come after you and still enjoy your ponzi-level returns.

Uncertainty doesn't affect the market? Fear of a crash because X and Y. That's what incertainty is. And it sure does affect the market. Any market.

Again, why would there be any uncertainty if we for example define a scheduled release on protocol level? Does Bitcoin mining add uncertainty?

Maybe you could explain how you imagine the distribution and who would profit from the remaining 99.96%.

Gladly, finally we're getting some constructive discussion.

One idea, as I mentioned above, is to hard-code a release schedule from a locked account, and also add some form of voting for how and when to spend it. Splitting it between multiple "funds" with different purposes (i.e. marketing, development, etc.) is probably also a good idea.

Another idea is the creation of a big stabilization fund to try and smooth volatility, as volatility is one of the biggest reasons for failed adoption: neither users, nor merchants want any volatility, they want stable prices. The only people who want volatility are speculators who can extract money from people this way.

Ideally it would be nice to have the same mechanisms that Federal Reserve is using to stabilize the currency, something like Simcoin Treasuries, but so far I haven't been able to figure out how to integrate it into the protocol.

I would like to hear other ideas.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 11, 2018, 09:34:05 am
Calculating an ROI is always in the invested Currency.

Really? Who told you that? Why on earth would you calculate ROI based on something floating with no base in reality?

You calculate ROI in _value_. If you invested in something in USD and USD lost 50% of it's value, your ROI in USD might be high, but you will still lose _value_ and will have a negative return. So calculating in USD makes absolutely no sense without comparison to the value.

What's value?
Value = buying power.

EUR/USD increased > 20% in a year.
Did you notice a 20% price increase in america in the last year because USD is worth less conpared to EUR?
No, you didn't. And you don't care that EUR is more expensive unless you buy european products.

You buy stuff with USD and only look at USD inflation. So anything that yields a ROI above USD inflation is a good investment.

If you buy a new token with BTC and if your new token outperforms BTC it was a good investment.
If you buy NEM with NXT and NEM outperforms NXT, it was a good investment.
However if you buy NXT with BTC and NXT doesn't outperform BTC it is a bad investment.
If I buy SIM with BTC and SIM doesn't outperform BTC, it was a bad investment.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 11, 2018, 09:41:49 am
9/10 Startups fail. So i need to look for startups that I believe can yield at least x10 my initial bet.

And I gave you a reasonable example that you will probably get x1000. But apparently it's still not enough for you, guys...

Speculation. Or are you willing to offer x1000 for anybody who holds SIM?

Maybe you could explain how you imagine the distribution and who would profit from the remaining 99.96%.

Gladly, finally we're getting some constructive discussion.

One idea, as I mentioned above, is to hard-code a release schedule from a locked account, and also add some form of voting for how and when to spend it. Splitting it between multiple "funds" with different purposes (i.e. marketing, development, etc.) is probably also a good idea.

Another idea is the creation of a big stabilization fund to try and smooth volatility, as volatility is one of the biggest reasons for failed adoption: neither users, nor merchants want any volatility, they want stable prices. The only people who want volatility are speculators who can extract money from people this way.

Ideally it would be nice to have the same mechanisms that Federal Reserve is using to stabilize the currency, something like Simcoin Treasuries, but so far I haven't been able to figure out how to integrate it into the protocol.

I would like to hear other ideas.

We don't want to build a second FED, do we?
Thether is not volatile and still no widespread adoption happened.

If we knew what was needed for widespread adoption it would be easy.
And why would this need 99.96% of supply instead of 60% ?
99.96% only allows for a bigger error margin in case you don't get ir right. there is more ledt to correct previous mistakes...

I'll need to think more but don't see your x1000 opportunity just yet...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 09:49:59 am
If I buy SIM with BTC and SIM doesn't outperform BTC, it was a bad investment.

You can have any sort of metric to define how good your investment was.

What does it have to do with me?

I just can't understand the insanity of measuring everything against the best performing asset using hindsight.

The fact is - you had no clue that BTC would be pumped with Tether this hard, otherwise you'd put everything you got into it. Since you didn't know - you diversified into other coins to reduce risk. How can you now demand that every asset you've invested into must match the best performing asset?

Again, it's like demanding that all stocks in your portfolio must match Apple.

And again, you can define your metric for good investment not by value, but by comparison to Apple, so what?

If you define it this way, then by definition every other stock will be a bad investment.

But what does those companies have to do with your personal definition of investment success? You want to be stupid and define success this way - you are absolutely free to do so, but nobody else owes you any money because of that.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 09:59:12 am
Speculation. Or are you willing to offer x1000 for anybody who holds SIM?

Of course it's speculation, what else do you want? It's not unreasonable speculation, though.

We don't want to build a second FED, do we?

If you mean never-ending inflation, then no. But I hope you're not as ignorant as Bitcoin cultists who think Federal Reserve has no merit whatsoever.

Thether is not volatile and still no widespread adoption happened.

Really? By now it's pretty much on every exchange. If you mean mass adoption, well, no cryptocurrency yet reached it.

I am obviously not saying that stable price is the silver bullet. There are no silver bullets. Mass adoption will not happen overnight. It will be slow and gradual accumulation of improvements, similar to the Internet, until one day you get a call from your grandma asking about the best way to store her private keys.

99.96% only allows for a bigger error margin in case you don't get ir right. there is more ledt to correct previous mistakes...

Exactly. Large supply is needed because you can't foresee the future.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 11, 2018, 10:02:37 am
It's not about my metric for how good an investment as, but about a 180degree shift in product design specs.


But since you asked, I'll show you my metric.
This metric is _as simple as it can be_. (like simToy)

I invested A and bought B.
Today if i sell all B, do i have more A than before?
If yes, it was a good deal.

An example: A = USD, B = Apple Stocks

I invested A (USD) and bought B (Apple Stocks).
Today if i sell all B (Apple Stocks), do i have more A(USD) than before?
If yes, it was a good deal.


Another example: A = BTC, B = Simcoin

I invested A (BTC) and bought B (Simcoin).
Today if i sell all B (Simcoin), do i have more A(BTC) than before?
If yes, it was a good deal.

Nothing to do with hinsight.
Let's get back to the important stuff: SimToy.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 10:08:33 am
It's not about my metric for how good an investment as, but about a 180degree shift in product design specs.

Don't be overdramatic. As I said many times - at the time of release _nothing_ will change, let alone "180 degree shift".

Today if i sell all B, do i have more A than before?
If yes, it was a good deal.

Without considering what A is worth, it's a rather primitive and useless metric.

You can get more A, but if it lost its value and you now can buy _less_ with more A than you could before, then it's not a good investment.

That's why it doesn't make sense to measure return as abstract numbers, but again, you are free to measure your "investment success" however you like, it just doesn't put any obligations on me.

Let's get back to the important stuff: SimToy.

Gladly. I would actually rather write code than forum posts :) Posts don't get us any closer to the release.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 10:34:23 am
Here's a little thought experiment that should help you, guys, get your brains back on track.

Imagine that Tether was exposed as the scam it is, and Bitcoin crashed to near-zero value, say 1 cent / BTC and now Bitcoin Cash took its place as the leading crypto (it might still happen, by the way).

Does this allow me to spend a few hundred bucks and pay you all a fantastic ROI in BTC, and declare that my job here is done?

Would you then consider SIM a great investment because you got waaaay more BTC than you've invested?

I am pretty sure there would be an uproar and people would demand that I gave them returns based on value!

Then why the double standard? Why when the abstract numbers are bad for you, you would demand to be paid by value, but when the numbers are good for you, you feel somehow entitled to be paid by numbers?

Imagine that after BTC had crashed, you came here and SIM is doing alright, and if I paid you by value you'd get $4.5 million, but instead I decide to stick to your principles and give you $4.5 instead. Would you be happy? Would that seem fair?

You've invested in SIM and it's a success, but just because BTC had crashed you now won't receive any meaningful money from SIM. Is this your logic?

If not then how can you think your current demand for BTC-based calculations is fair?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 11, 2018, 12:17:51 pm
Investing is about chosing entry and exit points yourself...
In your thought experiment this freedom is missing.
You'd be the one to chose. That's not how investing works.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 12:43:57 pm
Investing is about chosing entry and exit points yourself...
In your thought experiment this freedom is missing.
You'd be the one to chose. That's not how investing works.

I think you missed the point completely.

Why is it suddenly about freedom of exit? Anybody stopping you from exiting SIM or what?

Just imagine if the situation were different and right now BTC costs 1 cent.

Would you be OK with me paying you by BTC numbers as you demand now?

Would you consider $4.5 a great investment, because according to your awesome metric you've got a lot more (worthless) BTC now than when you invested?

What if this indeed happens between now and when Simcoin is released? Will you still demand to be paid by BTC or would you want to get back your _value_, especially if SIM is a success?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 12:56:14 pm
I don't know how to explain it simpler.

Just imagine that right now BTC is worth 1 cent and SIM is worth 1 USD. Let's assume you're dzarmush with his 18 milllon SIM.

So you come here and say: "I invested in BTC, so I want to be paid in BTC".

I say: OK, here's your 700 BTC = $7, instead of $18 million that those coins are worth now, enjoy your 100x return.

Would this seem fair or would you want x100 _value_, and not some stupid BTC numbers?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 01:06:46 pm
Another example:

You sell 1000 shares of Apple at $100 / share and buy a house for $100,000.

In 3 years you decide to sell the house. A couple comes visit, they like the house and offer you $200,000.

You say: no, the Apple stock is now trading at $1000 / share, so you need to pay me $2 M for this house.

The couple will think you're insane. The value of your house is not related to the value of Apple shares in any way!

The fact that you bought the house by selling Apple shares is _your_ problem.

Now reverse the situation.

The couple offers $200,000, but you say: no, folks, the Apple stock crashed to 1 cent per share, so it's OK if you just give me $20 and this will still be a great deal because I would get 200% ROI.

If you can't see by now the insane ridiculousness of your thinking, I really don't know how to explain this any clearer.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 11, 2018, 06:42:48 pm
If I just hold my BTC instead of investing it in Sim I'd have $150K by now.

Sure. If I invested $400 in Bitcoin in 2012, I would have been a millionaire in December 2017. I'm sorry, but you can't think like that. You don't have a time machine, as NxtChg already stated. The investment in Simcoin, like all investments in the crypto space, was very risky and did not guarantee anything in return. You took the risk, it didn't play out the way you thought it would (yet), and you lost. Please stop whining, take it like a man and carry on.

Or, another idea is to try to actually do something about it and help to improve the situation. It's up to you, really.

---

@NxtChg

I, for one, am glad you didn't give up on Simcoin entirely. Building a less ambitious and even simpler version of Simcoin is perhaps the only way to prevent the end of the project, so I like it.

I do have some (hopefully constructive) criticism though.

The technical limits I stated are just for version 1.0. They can be improved further. The TPS can grow. Confirmation time can be improved by building another mechanism on top of 1-min blocks and can be decreased to 1 sec later.

Isn't this the exact problem Bitcoin is having for a long time already? I understand sometimes launching a product is more important than trying to make it perfect forever. Without the launch of the (imperfect) Bitcoin, we probably wouldn't have been where we are now. It ignited an evolutionary process by launching a revolutionary product. Everything that comes after can improve on the original idea and gradually change into something perfect. For SimToy I'm not sure if just simplicity will be enough to survive in the violent crypto revolution. Something like a high TPS-rate is something you really need if you want to be a big player. As a (wannabe) programmer I understand limiting the TPS makes actually building the thing much easier, but from a marketing perspective it's horrible. ::)

Maybe answering the following question will inspire some more confidence in your minions:
Do you think after SimToy is complete, it can gradually grow into a real Simcoin?

---

Maybe a bit offtopic, but have you looked at Radix (formerly eMunie) recently? They seem to have solved the scaling and transaction speed problem. Their testnet is currently handling 4000+ TPS: https://explorer.radixdlt.com (https://explorer.radixdlt.com). I can't say anything about the quality of their code though.

---

Also, +1 for JSON and +1 for Ragnar Lodbrok 8)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 07:06:09 pm
If I just hold my BTC instead of investing it in Sim I'd have $150K by now.
Sure. If I invested $400 in Bitcoin in 2012, I would have been a millionaire in December 2017. I'm sorry, but you can't think like that. You don't have a time machine, as NxtChg already stated. The investment in Simcoin, like all investments in the crypto space, was very risky and did not guarantee anything in return. You took the risk, it didn't play out the way you thought it would (yet), and you lost. Please stop whining, take it like a man and carry on.

I had no problem with it at all since I had a pretty good amount of Sim and all these years I felt pretty confident about this investment, never had any regrets about it. Until yesterday when I've found out I'm gonna potentially have 1000 times less coins instead of what I'm having now, which erases any chance to get any profit.

What I also don't understand is why Overlord taking credits for future Sim price and drops the fact that it'll only be possible in case of huge BTC price. Sim isn't going to be independent coin in the foreseen future as well as any other coin except BTC. Sim is going to be depended on BTC for years, if not forever because all coins are traded against BTC, not dollar.


Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 07:08:19 pm
I understand that after the release there will only be 400M coins. But I also understand there won't be a fool who'd buy a single coin knowing that the supply will increase 1000 times during upcoming years. More of that the developer will not let the price grow on purpose because he doesn't like volatility.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 07:09:23 pm
Maybe answering the following question will inspire some more confidence in your minions:
Do you think after SimToy is complete, it can gradually grow into a real Simcoin?

These limits are somewhat arbitrary and can be easily increased. For example, this is a quote from wiki:

Quote
Currently each block can have 1 to 250 transactions, which cannot exceed 1 Mb in size.

Each block contains all the accepted transactions for a given minute.

This means the system is currently limited to 4 transactions per second = 360,000 txs/day.

The number of transactions can be increased later without increasing the block size limit.

If a typical tx is 100 bytes, then 1 Mb limit will allow 10,000 txs/min = 166 txs/sec.

This can be increased further by increasing the block size to 2 Mb. It can be achieved without breaking the underlying [[Sim Pack]]s code and to 4 Mb with slight modifications.

This means 333 and 666 TPS respectively.

So this is just something to limit the pressure on me, because as I said before, the system is as fast as its slowest component, so if you are aiming at 1000 TPS everything must work at that rate, you can't take any shortcuts.

Maybe a bit offtopic, but have you looked at Radix (formerly eMunie) recently? They seem to have solved the scaling and transaction speed problem. Their testnet is currently handling 4000+ TPS: https://explorer.radixdlt.com (https://explorer.radixdlt.com). I can't say anything about the quality of their code though.

Tim periodically posts links to all these interesting coins in Slack and I look at them, including Radix.

All are pretty much jokes.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 07:20:40 pm
Until yesterday when I've found out I'm gonna potentially have 1000 times less coins instead of what I'm having now, which erases any chance to get any profit.

I thought I showed you that it's pretty reasonable to expect 100,000% ROI. You will get potentially 1000 times _more_ coins. You want another 1000 increase? Really? 1 million times more?

What I also don't understand is why Overlord taking credits for future Sim price and drops the fact that it'll only be possible in case of huge BTC price. Sim isn't going to be independent coin in the foreseen future as well as any other coin except BTC. Sim is going to be depended on BTC for years, if not forever because all coins are traded against BTC, not dollar.

That's your opinion, I see absolutely no reason why everything should forever depend on BTC. If that's the case, then there is no reason to try and build a better coin at all. BTC might crash to zero with a good probability once Tether collapses, that's my opinion.

I understand that after the release there will only be 400M coins. But I also understand there won't be a fool who'd buy a single coin knowing that the supply will increase 1000 times during upcoming years.

Bitcoin ruined you. Now you don't even view the project as anything other than a ponzi scheme where _you_ get a lot of money for nothing by convincing other people to buy in.

How about a different purpose? Changing the world? Making people's lives better? No? Either 1,000,000% or it's a failure?

Now it's only about selling to suckers so you could get your profits? People buying because of utility or long-term prospects is not an option anymore?

More of that the developer will not let the price grow on purpose because he doesn't like volatility.

Nobody likes volatility. I am after adoption, not money. Volatility is bad for adoption and ultimately for the long-term success of the project.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 07:54:03 pm
I thought I showed you that it's pretty reasonable to expect 100,000% ROI.

You can't (nobody can) predict any ROI. If you think I'm way too greedy then you're wrong coz I'm not. I'd be more than happy with 1000% ROI in BTC terms which isn't too much for 4-5 years. And it's really possible with 400M-1B supply. But with 1T supply Sim market cap should be 3,500,000 BTC.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 08:07:41 pm
1000% ROI in BTC

Again?

What if BTC drops to 1 cent/Bitcoin? Would you be OK with me paying you 700 BTC = $7 then? Would that be fair?

If not, then stop being a hypocrite and stop demanding returns in BTC, instead of the value. That's not how investments work.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 08:21:54 pm
1000% ROI in BTC

Again?

What if BTC drops to 1 cent/Bitcoin? Would you be OK with me paying you 700 BTC = $7 then? Would that be fair?

If not, then stop being a hypocrite and stop demanding returns in BTC, instead of the value. That's not how investments work.

Ok, the hell with BTC ) How are we gonna measure ROI? In bananas? In dollars? What if dollar is going to crash hard? What if bananas are going to grow on every tree around the globe? We didn't buy Sim tokens with dollars, or nxt, or any other stuff. We did buy it with BTC because we believed in BTC in the first place and also in Sim. We expected BTC will grow 10 times in dollars and Sim will grow 10 times in BTC so we'll get 100 times more money in the end. That's why we're waiting return in BTC. How it's so hard to understand?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 08:46:29 pm
We did buy it with BTC because we believed in BTC in the first place and also in Sim. We expected BTC will grow 10 times in dollars and Sim will grow 10 times in BTC so we'll get 100 times more money in the end. That's why we're waiting return in BTC. How it's so hard to understand?

OK, imagine that BTC is now 1 cent and SIM is now 1 USD. Will you be consistent with your "expectations" and be happy to give me your 18 million dollars in return for $7 worth of BTC? No?

I don't understand what the hell happened to you, guys. This is NOT how investments work!

You cannot demand people to pay you 2 M for a house worth 200 K just because the Apple stock is now 10 times higher.

Similarly, you would not agree to sell your house for $20 and think it's a good deal because Apple stock has crashed.

How is THAT hard to understand?!

We can measure value in USD because it didn't change its purchasing power over 3 years significantly. So if your original $4.5 K turn into $4.5 M, I would say this was a great investment.

For this to happen, SIM market cap needs to be about $80 M dollars, not an unreasonable expectation.

Can we now stop with this silliness and focus on how to get there instead?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 08:56:45 pm
We can measure value in USD because it didn't change its purchasing power over 3 years significantly. So if your original $4.5 K turn into $4.5 M, I would say this was a great investment.

For this to happen, SIM market cap needs to be about $80 M dollars, not an unreasonable expectation.

Can we now stop with this silliness and focus on how to get there instead?

By not increasing supply 1000 times within the next 10 years? )

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 09:05:09 pm
By not increasing supply 1000 times within the next 10 years? )

If you don't give a damn about the long term success of the project, then just sell everything once it is released.

There will be initial spike on release, you can dump and be happy.

If you do care about long-term success, then you should also care about people not using 0.001 prices and about volatility.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 09:25:28 pm
If you do care about long-term success, then you should also care about people not using 0.001 prices and about volatility.

First one is easy. You can just increase supply to whatever you want without diluting our shares.

Second one is even easier. People buy cryptocurrencies because of their volatility, not despite of it. I'll never buy any coin if I'm not hoping for at least x2 return. I don't think there are more then 0.1% people who buy coins because they believe in some kind of bright future and shit.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 11, 2018, 09:36:29 pm
Second one is even easier. People buy cryptocurrencies because of their volatility, not despite of it. I'll never buy any coin if I'm not hoping for at least x2 return. I don't think there are more then 0.1% people who buy coins because they believe in some kind of bright future and shit.

Well, that's what I am talking about. This is the kind of mentality Bitcoin has created. "Sell to the next sucker and get rich".

Sad. I don't think this is going anywhere. If that's your attitude, then you will not be any help for the project.

Sorry, you're on your own. Whatever return you will get is what you get.

I am not here to create a ponzi scheme so you could profit.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 09:49:08 pm
Second one is even easier. People buy cryptocurrencies because of their volatility, not despite of it. I'll never buy any coin if I'm not hoping for at least x2 return. I don't think there are more then 0.1% people who buy coins because they believe in some kind of bright future and shit.

Well, that's what I am talking about. This is the kind of mentality Bitcoin has created. "Sell to the next sucker and get rich".

Sad. I don't think this is going anywhere. If that's your attitude, then you will not be any help for the project.

Sorry, you're on your own. Whatever return you will get is what you get.

I am not here to create a ponzi scheme so you could profit.

"If that's your attitude" – really, what the fuck? If that's my attitude? You repeated "ponzi scheme" like a hundred times. Why do you think people invest in startups? Why did someone buy Apple stocks, Amazon etc? People believe in some great products and hope to profit from it. And other people use this money to build something. If we didn't invest in Sim you wouldn't be able to spend as much time as you want building something you want to create. That how it works. Why the fuck people would spend their money on some coin which price isn't going any higher? They worked hard to earn the money. They have families and children and bills and so on. Why would they just throw it away on some ridiculous cryptocurrency that has stable price and isn't going any higher? 
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 11, 2018, 09:55:40 pm
By not increasing supply 1000 times within the next 10 years? )
If you don't give a damn about the long term success of the project, then just sell everything once it is released.

Name one reason why would there be any buy orders once it is released if the coin has inflation of 10,000% a year. Some stupid lemmings might buy something because they didn't read about it and just buy a new coin on the release, but that would be it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 12, 2018, 12:30:41 am
Imagine BTC is 1cent and Sim is 1$...
Imagin i had 18 million Sim. I would sell those to someone who offers me 1800 million BTC... wait that's more than exists. So I'd sell them for something else that has a high liquidity... like USD...

I'm too stupid for your though experiment.

I don't get why you now call to noble motives. Who cares why someone invested in your startup. Nobody asked for my reasons to invest in this.
You see an opportunity, you take it.

You are changing plans now. Who tells me you won't change them again. Dillute even more? Uncertainty. Not sticking to the initial plan.

Still looking for a top 200 coin with 0.04% circulation supply.
Still looking for examples where startup dilluted the sahes of their investors like this.

What's the difference if having 600 billion or 999.96 billion.
For you it's not even twice as much. while for the investors the difference between 400million and 400billion is like x1000.

I'm not sure how you can not see that this is an issue. And not sure why you now call for noble motives to change the world.
It's not a shame to become rich off an investment. Ponzi scheme or noble world changing hero. Who cares.

We had a plan. It was a good plan.
it was instant payments with high throughout and 40%/60% split between fundraisers and developers.

Imagine any kickstarter compain that tells you to have 10devices for your 1000$ investment. They launch with a reduced version of their device and tell you: Hey insted of the 10 devices you only get one box of the device.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 12, 2018, 09:04:40 am
Imagine BTC is 1cent and Sim is 1$...
Imagin i had 18 million Sim. I would sell those to someone who offers me 1800 million BTC...

There's your answer. You want return on _value_, not some abstract numbers.

You won't take $20 for the house worth 200 K, so you have no right to demand 2 M for it too.

So stop demanding returns on abstract numbers when they are in your favor if you're not willing to take the same deal when they are NOT in your favor.


Ponzi scheme or noble world changing hero. Who cares.

I do.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 12, 2018, 09:46:17 am

You won't take $20 for the house worth 200 K, so you have no right to demand 2 M for it too.

I absolutely HAVE the right to demand 2M for my 200k house. It's my house. I paid with MY money. So I can ask whatever I want.

Again. There was a plan laid out by you to attract investors 4 years ago.
You'd build a cryptocurrency with a defined set of features.
You would decide the end date of this ICO without prior notice.
The funds raised would equal 40% of the total supply of your new coin.
40% investors, 60% you.

It was a simple plan.
Now you alter your plan to the disadvantage of your financial backers.

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 12, 2018, 10:27:15 am
I absolutely HAVE the right to demand 2M for my 200k house. It's my house.

Of course. You can demand whatever you want, but nobody has to oblige your misguided demands.

Again. There was a plan laid out by you to attract investors 4 years ago.

Plans change in response to new information. Not doing so is stupid.

Now you alter your plan to the disadvantage of your financial backers.

I have before me two conflicting interests:

1. the greed of investors who just want to dump to the next sucker and get rich
2. the long term well-being and success of the whole project

Guess which one has a higher priority.

Although I will do my best to help investors get a fair return, at no point I will put their interests above the interests of the project.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 12, 2018, 10:36:43 am
I absolutely HAVE the right to demand 2M for my 200k house. It's my house.

Of course. You can demand whatever you want, but nobody has to oblige your misguided demands.

Misguided? We gave you our money on the terms you created. Now you fuck over your investors because you just want so. There's no way anyone in the future would deal with someone like you who change his mind and dilute people's share 1000 times.

Again. There was a plan laid out by you to attract investors 4 years ago.

Plans change in response to new information. Not doing so is stupid.

That's just so fucked up. "Plans changed - bye bye suckers who gave me lots of money so I can leave my day job and work on my personal project. Now I'm gonna find new stupid fucks who will give me their money.".


Now you alter your plan to the disadvantage of your financial backers.

I have before me two conflicting interests:

1. the greed of investors who just want to dump to the next sucker and get rich
2. the long term well-being and success of the whole project

Guess which one has a higher priority.

Nobody cares about your priority. Either you stick with the initial plan or your project is ruined anyway because no one will trust you in future.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 12, 2018, 10:39:34 am
I get smaragda now. He was mentally damaged and more sensitive than other investors, so he was first who saw what you are and it broke him.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 12, 2018, 12:15:32 pm
Now you alter your plan to the disadvantage of your financial backers.

I have before me two conflicting interests:

1. the greed of investors who just want to dump to the next sucker and get rich
2. the long term well-being and success of the whole project

Guess which one has a higher priority.

Nobody cares about your priority. Either you stick with the initial plan or your project is ruined anyway because no one will trust you in future.

NxtChg worked tirelessly on Simcoin for 4(!!) years with a relatively small budget. It is almost a miracle he didn't give up yet, even now it is clear that the initial plan was too ambitious. So what do you expect of him? Should he continue to try to realize the original idea, even if that doesn't make sense at all and will probably result in failure? Or maybe he should just quit and vanish into thin air? In both cases you will lose your investment.

But no, he chooses to continue on a new path because he still thinks the world needs something like Simcoin. He wants to learn from past mistakes and make something better. And even though he owes us nothing anymore because the original experiment we invested in failed, he still tries to give the original investors something in return. Who does that?? Just take a look at http://deadcoins.com. Do you think all those initiatives compensated their investors once they failed? No, they just took the money and ran. Why? Because they are like you. Just think about that.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 12, 2018, 12:47:06 pm
Now you alter your plan to the disadvantage of your financial backers.

I have before me two conflicting interests:

1. the greed of investors who just want to dump to the next sucker and get rich
2. the long term well-being and success of the whole project

Guess which one has a higher priority.

Nobody cares about your priority. Either you stick with the initial plan or your project is ruined anyway because no one will trust you in future.

NxtChg worked tirelessly on Simcoin for 4(!!) years with a relatively small budget. It is almost a miracle he didn't give up yet, even now it is clear that the initial plan was too ambitious. So what do you expect of him? Should he continue to try to realize the original idea, even if that doesn't make sense at all and will probably result in failure? Or maybe he should just quit and vanish into thin air? In both cases you will lose your investment.

But no, he chooses to continue on a new path because he still thinks the world needs something like Simcoin. He wants to learn from past mistakes and make something better. And even though he owes us nothing anymore because the original experiment we invested in failed, he still tries to give the original investors something in return. Who does that?? Just take a look at http://deadcoins.com. Do you think all those initiatives compensated their investors once they failed? No, they just took the money and ran. Why? Because they are like you. Just think about that.

You don't think Sim will be dead born with 99.6% of supply locked and 10000% inflation a year?

Would you personally buy Sim after the release if you'd know that in a week its supply will be doubled? And after another week there will be released another billion coins and every single week for the next 10 years 1 billion coins will be flooding the market.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 12, 2018, 12:53:31 pm
Let's say Overlord wants to control 99% of supply for some reason. Then why wouldn't he just lock most part of our 40% supply and release our coins gradually withing 3-5 years? That would make way more sense. I'd be totally fine with receiving 1% of my coins every week if he thinks it'd somehow help the project to succeed. But making 1000 time more coins out of nowhere and locking it is pure madness.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 12, 2018, 01:06:22 pm
You don't think Sim will be dead born with 99.6% of supply locked and 10000% inflation a year?

Would you personally buy Sim after the release if you'd know that in a week its supply will be doubled? And after another week there will be released another billion coins and every single week for the next 10 years 1 billion coins will be flooding the market.

Let's say Overlord wants to control 99% of supply for some reason. Then why wouldn't he just lock most part of our 40% supply and release our coins gradually withing 3-5 years? That would make way more sense. I'd be totally fine with receiving 1% of my coins every week if he thinks it'd somehow help the project to succeed. But making 1000 time more coins out of nowhere and locking it is pure madness.

Read what NxtChg posts:

One idea, as I mentioned above, is to hard-code a release schedule from a locked account, and also add some form of voting for how and when to spend it. Splitting it between multiple "funds" with different purposes (i.e. marketing, development, etc.) is probably also a good idea.

I would like to hear other ideas.

He doesn't control 99% of the supply, the code does.

Maybe an idea is to release a part of the new coins to long-term hodlers and a smaller part to short-term hodlers? Like receiving interest from a bank?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 12, 2018, 01:11:25 pm
You don't think Sim will be dead born with 99.6% of supply locked and 10000% inflation a year?

Would you personally buy Sim after the release if you'd know that in a week its supply will be doubled? And after another week there will be released another billion coins and every single week for the next 10 years 1 billion coins will be flooding the market.

Let's say Overlord wants to control 99% of supply for some reason. Then why wouldn't he just lock most part of our 40% supply and release our coins gradually withing 3-5 years? That would make way more sense. I'd be totally fine with receiving 1% of my coins every week if he thinks it'd somehow help the project to succeed. But making 1000 time more coins out of nowhere and locking it is pure madness.

Read what NxtChg posts:

One idea, as I mentioned above, is to hard-code a release schedule from a locked account, and also add some form of voting for how and when to spend it. Splitting it between multiple "funds" with different purposes (i.e. marketing, development, etc.) is probably also a good idea.

I would like to hear other ideas.

He doesn't control 99% of the supply, the code does.

Maybe an idea is to release a part of the new coins to long-term hodlers and a smaller part to short-term hodlers? Like receiving interest from a bank?

I suggested that long term holders should receive coins from that trillion coins but he said I'm a ponzi junk and spoiled by btc where you hold for a long time and become a millionaire.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 12, 2018, 02:03:52 pm
Then why wouldn't he just lock most part of our 40% supply and release our coins gradually withing 3-5 years? That would make way more sense.

This actually would make sense. And this actually IS done in the startup world.
You can't easily sell your equity whenever you please.

More, by releasing investors stakes over time, the risk of massive dumps to "the next sucker" is reduced a lot.


On another note, if the distribution is set in the code, how can volatility be reduced. And volatility compared to what? Will the price be pegged to another currency like USD. Even then, what API will you call to get your current price in USD to increase or reduce the circulation supply.

The initial 40/60 plan didn't even fail, and yet you want to change it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 12, 2018, 05:05:41 pm
Quote
bye bye suckers who gave me lots of money so I can leave my day job and work on my personal project.

Just to set the record straight, I quit my day job a decade earlier. And the $20 K / year Simcoin ICO brought hardly matches the salary of a senior developer.

So no, I don't work for you. I provide investment opportunity.

Quote
On another note, if the distribution is set in the code, how can volatility be reduced. And volatility compared to what? Will the price be pegged to another currency like USD. Even then, what API will you call to get your current price in USD to increase or reduce the circulation supply.

You all are freaking out like little girls without even considering HOW exactly the stake will be released.

In the end the release might as well end up being controlled by the stake voting, so you, the big investors, will decide when and how much to release, and can lock the whole trillion there forever. Yet you keep littering this thread with obscenities like uncivilized baboons.


How to smooth volatility is a good question and I am open to ideas.

The goal is not to completely remove it, but to do what central banks do with their currencies - buy when it hits the low threshold and sell when it hits the high threshold, maintaining a "corridor". Probably maintain a basket of other cryptocurrencies or USD.

It will probably be impossible to implement in code, though, so some entity will have to control it. It might be by stake voting, it might be the Simcoin Foundation, it might be a special fund of a few trusted people with multi-sig.

I expect most of that trillion will be locked up in this fund. Another great portion will be locked up in nodes. Since stake is power, another portion will be hoarded by people and companies. A few funds will be needed to fund development, marketing, etc.

And doing a gradual release of 400 M is also a good idea, I like it.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 12, 2018, 09:07:56 pm

Quote
On another note, if the distribution is set in the code, how can volatility be reduced. And volatility compared to what? Will the price be pegged to another currency like USD. Even then, what API will you call to get your current price in USD to increase or reduce the circulation supply.

You all are freaking out like little girls without even considering HOW exactly the stake will be released.

[...]

It will probably be impossible to implement in code, though, so some entity will have to control it.

I'm out. You accuse me of freaking out because i don't consider HOW distribution is done. The you continue by saying the HOW can't be coded into the coin.

And doing a gradual release of 400 M is also a good idea, I like it.

So now we don't even have 0.04% but only 0.04% over time. Well played.
Guess it's true, being genious and being insane is the same.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 12, 2018, 09:56:18 pm
How do you choose what market cap should Sim have? Let’s say Sim is  released and traded at 50 satoshi, so its market cap is around 200 BTC. Then suddenly Coindesk notice it, publish an article and hundreds of people start buying Sim. What are you going to do? Release more and more new coins, dump them on newcomers in order to avoid volatility because you’re happy with 200 BTC market cap? I just don’t understand what do you have in mind and your insulting posts are not helping to understand your plan at all.

Also what if someone start dumping? Are you going to buy all coins? Where do you find money for it? Are you going to control all exchanges? How is that decentrilized in any way?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 13, 2018, 06:49:47 am
So now we don't even have 0.04% but only 0.04% over time. Well played.

What I understand is that the initial supply will still be 400 million at launch. So us early investors will still have a relatively large share of Simcoin at the start. This share will get diluted over time, so I don't really see the problem if you sell early.

In case the 400 million gets released gradually we will suffer some share dilution, but only a small amount since the 1 trillion also will get distributed gradually. This can take years, or even decades. So plenty of time to take some profit.

It doesn't make sense if only a few people hodl most coins of a cryptocurrency. What you want is proper distribution and real life usage. It seems the majority of the people in crypto now are greedy traders who only care about making as much money as possible. This should change and it will change. Maybe adding a trillion of new coins doesn't help the greedy trader now, but later it might help the people who will actually use it as a medium of exchange.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 13, 2018, 07:59:29 am
Our shares would be diluted with 1B of new coins or 10B. With 1T coins they’ll be vanished.

Again, one should be absolute idiot to buy into coin that has 10 thousand percent inflation a year. Nobody would buy it or want something to do with it. With my prevoius ICOs I sometimes was buying more coins after the release if I saw a potential, but with such conditions I myself won’t buy anything. What does it say about the coin if initial investors are not buying any on the release?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 13, 2018, 08:44:11 am
What does it say about the coin if initial investors are not buying any on the release?

It says about the coin that it should be used in light of the promise that "blockchain technology" (buzzword alert, sorry...) will change the world for the better, instead of being a get rich quickly scam. The current hype is fun and makes some people a lot of money, but it is not sustainable in the long run.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2018, 08:46:31 am
Nobody would buy it or want something to do with it.

I don't care if anybody buys it or not - that's ponzi mentality: the only use for a coin is to dump it on other suckers.

Currency is not a product you sell.

If I manage to create something of value, people will buy it. If not, then trying to sell it to them would be fraud.

Quote
How do you choose what market cap should Sim have?

We should strive to maintain dollar parity, as this is the optimal level of prices - not too many zeros on either side of the number.

Quote
Also what if someone start dumping? Are you going to buy all coins?

As I said, the goal is not to remove all volatility, but to smooth it.

Quote
Where do you find money for it?

Part of the stabilization fund needs to be converted into the collateral asset(s). This will probably take some time.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2018, 08:49:10 am
In case the 400 million gets released gradually we will suffer some share dilution

No, this is not a dilution, it's just delayed release, which will help you, investors, to maintain higher prices and avoid large dumps.

Obviously no other stake will be released until all 400 M are withdrawn, so you will be the only ones selling.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: dzarmush on April 13, 2018, 08:52:02 am
Why would people buy it? If Satoshi Nakamoto would be releasing billions of bitcoins every months it’d have no value at all. That what will happen to Sim with trillion supply.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2018, 09:01:20 am
Why would people buy it? If Satoshi Nakamoto would be releasing billions of bitcoins every months it’d have no value at all. That what will happen to Sim with trillion supply.

You keep repeating the same "10000% inflation per year" argument over and over again, while I keep repeating that 1 trillion release can be done in various ways, it might not even be released at all.

You're not listening. You just want to be mad.

So I don't see any point to continue being a parrot until you cool off.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 13, 2018, 09:47:39 am
Quote from: NxtChg link=topic=6.msg1687#msg1687

You keep repeating the same "10000% inflation per year" argument over and over again, while I keep repeating that 1 trillion release can be done in various ways, it might not even be released at all.

UNCERTAINTY at its finest.
And what does uncertainty do to markets? Correct. It affects them negatively.
Quote
While known factors are already reflected in efficient market prices, the main sources of market instability are unknown factors.

You can read it up:
Here https://www.bis.org/ifc/events/5ifcconf/slovik.pdf (https://www.bis.org/ifc/events/5ifcconf/slovik.pdf) Or
Here https://www.sciencedirect.com/science/article/pii/S0264999317303474) (https://www.sciencedirect.com/science/article/pii/S0264999317303474)) And probably in 100 different papers and articles
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2018, 09:52:57 am
UNCERTAINTY at its finest.
And what does uncertainty do to markets? Correct. It affects them negatively.

And why exactly do you assume that this uncertainty will continue after release?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 13, 2018, 12:30:09 pm
UNCERTAINTY at its finest.
And what does uncertainty do to markets? Correct. It affects them negatively.

And why exactly do you assume that this uncertainty will continue after release?

If you could remove the uncertainty after the release, you could also do it before.
Why does the release change anything?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 13, 2018, 12:51:36 pm
I don't even understand what you're saying.

I've put an idea forward for discussion. At some point one or more decisions will be made. Probably before release, because it doesn't make much sense to do it _after_.

Why you are crying about some "uncertainty that hurts markets", I have no idea.

Both of you need to seriously cool off and get your heads in order.

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 13, 2018, 01:00:03 pm
Both of you need to seriously cool off and get your heads in order.

(http://littlefun.org/uploads/5378c254e691b21f24ab32e9_736.jpg)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: s11made on April 13, 2018, 03:48:28 pm
Do your thing. I hope you succeed.
From my viewpoint, compared to the initial plan, this new plan sucks.
Maybe it is now set in stone already, maybe it will change. I'll check back in a year or two. Should be eough time to cool off.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: mcjavar on April 16, 2018, 06:21:07 am
How about returning the BTC-s to the initial investors and creating a new ICO for this new project?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 16, 2018, 10:41:33 am
How about returning the BTC-s to the initial investors and creating a new ICO for this new project?

Yes, that is something we've discussed in slack, but most of the ICO money was spent during these 4 years of development, so the only kind of return possible is some sort of old-to-new shares conversion.

Still, it's an interesting option.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 16, 2018, 04:05:57 pm
[...], so the only kind of return possible is some sort of old-to-new shares conversion.

There are some examples of coins who did this successfully, like Crypti -> Lisk. A big difference though, is that Crypti had a working product.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 16, 2018, 04:10:36 pm
A big difference though, is that Crypti had a working product.

Obviously there can be no secondary IPO without a working product...
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 22, 2018, 08:09:28 am
Although I said that there will be no Account Control in v1.0, we still need some mechanism to deal with the supply problem.

So I've implemented time locks: now any account can be locked for a certain period of time with unspendable amount and a spending rate (max 42 M SIM / day).

In addition to that, txs from Genesis will require approval of one or more "senators" - elected accounts with delegated stake. They will decide when to spend, how much and which account to forward the money to. To approve Genesis tx a certain quorum of senators must co-sign it.

Txs from Genesis account will have additional powers, for example they will allow senators to revoke any NODE status in case some node starts misbehaving.

The initial idea was to allow direct governance by popular vote, but this is both overly complicated and not particularly wise. So the new idea is to use representative democracy with senators.

This will allow you to delegate your stake to whomever you think represents your interests best. Senators power should probably be limited, for example they won't be able to block any money transfers or accounts.

Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on April 23, 2018, 12:42:14 pm
I've got some questions:

So I've implemented time locks: now any account can be locked for a certain period of time with unspendable amount and a spending rate (max 42 M SIM / day).

Who decides about the locking of accounts? Senators?

In addition to that, txs from Genesis will require approval of one or more "senators" - elected accounts with delegated stake. They will decide when to spend, how much and which account to forward the money to. To approve Genesis tx a certain quorum of senators must co-sign it.

Are you not afraid of sockpuppets and other forms of corruption? And don't you think people will disapprove the centralized aspect of using just a few people who can make decisions?

This will allow you to delegate your stake to whomever you think represents your interests best. Senators power should probably be limited, for example they won't be able to block any money transfers or accounts.

Does that mean SimToy will use the DPoS mechanism for consensus?

Can non-senators submit proposals as well?

---

Will you create a separate 'ANN' post for SimToy?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on April 23, 2018, 01:05:57 pm
Who decides about the locking of accounts? Senators?

Initial accounts will be locked by me before release.

Anyone can lock their own accounts and also anyone will probably be able to assign a special status to their accounts, which will require senate vote to send txs from it.

Are you not afraid of sockpuppets and other forms of corruption? And don't you think people will disapprove the centralized aspect of using just a few people who can make decisions?

The whole point of PoS is to avoid Sybil attacks by using stake.

And I don't see any problem with representative democracy, indeed I think it's superior to popular vote.

If we had an unelected politburo, that would be a problem; instead you will be free to delegate your stake to whomever you think represents your interests best.

Does that mean SimToy will use the DPoS mechanism for consensus?

I am not yet sure about that. I was against DPoS before and am still mostly against it. Delegation solves the problem of limited stake in nodes, but on the other hand increases the risk and also allows people to monetize their power. So still thinking about this... For now power can only be delegated to senators.

Can non-senators submit proposals as well?

There are no proposals. The only power senators have is to send txs from Genesis accounts (and any other with the special status).

This allows them to spend Genesis money and to recall account statuses, for example revoke the NODE status in case a node is proven to be malicious. They can also change some system variables that are stored in the ledger.

Will you create a separate 'ANN' post for SimToy?

I view SimToy as v1.0 of Simcoin. It will eventually be improved to match the original Simcoin specs.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: vader on April 24, 2018, 06:11:38 pm
hi guys, back again after a few years. did i miss something?  ;D

thank you nxtchg for helping with my old account.
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: bitcoinpaul on June 03, 2018, 05:37:19 pm
Dudes, what‘s crackin?
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: Titulaer on July 21, 2018, 06:37:28 am
Are you still alive, NxtChg?

If so, any progress on SimToy? :)
Title: Re: [ANN][SIM] Simcoin - A Simple Coin
Post by: NxtChg on July 25, 2018, 08:18:55 am
It's summertime, things are a bit slow. It also doesn't help that I am getting constantly sick from A/C's. Something is seriously wrong with my immune system...