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Author Topic: [ANN][SIM] Simcoin - A Simple Coin  (Read 35568 times)

NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #30 on: November 20, 2015, 03:36:15 pm »
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¥€$coin.

;D Clever.

You should patent it and sell to Ripple, would be perfect for their idea to be a currency bazaar :)
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #31 on: November 20, 2015, 03:37:56 pm »
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Long posts without pictures are boring, so I think this is an appropriate one:



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 :)
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NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #32 on: November 20, 2015, 03:40:20 pm »
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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)
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #33 on: November 20, 2015, 03:40:34 pm »
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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 ;)
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #34 on: November 20, 2015, 03:41:11 pm »
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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.
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #35 on: November 20, 2015, 03:42:27 pm »
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Distribution update:


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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #36 on: November 20, 2015, 03:43:00 pm »
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x - users?
y - numbers of btc invested?

Correct.
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #37 on: November 20, 2015, 03:43:52 pm »
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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.
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #38 on: November 20, 2015, 03:44:32 pm »
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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...
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #39 on: November 20, 2015, 03:45:18 pm »
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Three-S-coin  SSS or 3S (Simple, Secure, Speed)


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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #40 on: November 20, 2015, 03:46:43 pm »
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...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 :-*
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #41 on: November 20, 2015, 03:47:06 pm »
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Bye the way, today (April 23) is exactly 1 month since I've started writing first code for Simcoin :)
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #42 on: November 20, 2015, 03:47:44 pm »
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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.
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #43 on: November 20, 2015, 03:48:10 pm »
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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #44 on: November 20, 2015, 03:48:53 pm »
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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.
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