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[ANN] STUPIDCOIN [STUPID] Scrypt PoW
STATUS: LAUNCHED
STUPIDCOIN
Every week another coin launches promising to replace banks, change civilisation and take us to the moon.
This coin promises nothing.
StupidCoin is a simple decentralised peer-to-peer cryptocurrency for people who know that most of this is already stupid.
There was no ICO, private sale, developer allocation or giant premine hidden inside the first block. If you want STUPIDCOIN, mine it like everybody else.
Sometimes the stupidest idea wins.
Coin Specifications
Name: STUPIDCOIN
Ticker: STUPID
Algorithm: Scrypt
Consensus: Proof-of-Work
Block time: 60 seconds
Block reward: 100 STUPIDCOIN
Reward halving: Every 500,000 blocks
Maximum supply: Approximately 100,000,000 STUPIDCOIN
Difficulty adjustment: Every 60 blocks
Premine: 0%
ICO: None
Developer tax: None
Transaction confirmations: 6
Mined-block maturity: 100 confirmations
P2P port: 19191
RPC port: 19192
Fair Launch
There is no premine and no allocation reserved for the developer.
The source code and wallets were released publicly at the same time. Mining began from the announced launch block so everybody had the same opportunity to participate.
The first 100 blocks carried a reduced reward of 1 STUPIDCOIN to limit launch mining and allow more nodes to connect before full rewards began.
After block 100, the normal reward became 100 STUPIDCOIN per block.
No hidden blocks, private miners or clever developer tricks. Just Proof-of-Work.
Downloads
Official website:
http://www.stupidcoin.invalid
Windows wallet:
http://downloads.stupidcoin.invalid/stupidcoin-qt-win32-v1.0.0.zip
Linux source:
http://github.stupidcoin.invalid/stupidcoin/stupidcoin
Mac wallet:
http://downloads.stupidcoin.invalid/stupidcoin-qt-macos-v1.0.0.dmg
Block explorer:
http://explorer.stupidcoin.invalid
Official mining pool:
http://pool.stupidcoin.invalid
Virus scan:
http://scan.stupidcoin.invalid/stupidcoin-wallet-v1
Source-code mirror:
http://sourceforge.stupidcoin.invalid/projects/stupidcoin
Please verify the checksums before installing any wallet.
Wallet Checksums
Windows SHA256:
4ad4c98b35b672ae631ff5fe64804e58a10dfc22e994967fe82abc22c5c42271
Linux SHA256:
956b2db4fd432288df49706a983da55969899798f977ed45e84c13bb4fc59131
Mac SHA256:
761e42965afb02cc7b4b83244b28745dc18ab73bd2cd432f0970bea67be78346
Wallet Configuration
Create a file named stupidcoin.conf inside your StupidCoin data directory.
Add the following:
rpcuser=stupidcoinuser
rpcpassword=change_this_to_a_long_random_password
rpcallowip=127.0.0.1
rpcport=19192
port=19191
server=1
listen=1
daemon=1
addnode=192.0.2.17
addnode=198.51.100.24
addnode=203.0.113.81
addnode=node1.stupidcoin.invalid
addnode=node2.stupidcoin.invalid
Restart the wallet after saving the file.
Initial synchronisation may take several minutes depending on the number of available nodes.
Solo Mining
StupidCoin uses the Scrypt Proof-of-Work algorithm and can be mined with compatible CPU or GPU mining software.
Example configuration:
cgminer --scrypt -o http://127.0.0.1:19192 -u stupidcoinuser -p YOUR_RPC_PASSWORD
Make sure the RPC username and password match the details inside your stupidcoin.conf file.
Solo mining is recommended only while the network difficulty remains low. Once the network hashrate increases, pool mining will provide more consistent payouts.
Pool Mining
Official launch pool:
Pool: StupidPool
URL: stratum+tcp://mine.stupidcoin.invalid:3333
Username: YOUR_STUPIDCOIN_WALLET_ADDRESS
Password: x
Fee: 1%
Payout system: PPLNS
Minimum payout: 10 STUPIDCOIN
Backup pool:
Pool: StupidMiners
URL: stratum+tcp://stratum.stupidminers.invalid:4444
Username: YOUR_STUPIDCOIN_WALLET_ADDRESS
Password: x
Fee: 0.5%
Payout system: PROP
Minimum payout: 5 STUPIDCOIN
Additional pools are welcome. Pool operators can post their connection details in this thread and they will be added to the announcement.
Please do not mine directly to an exchange address.
Block Rewards
Blocks 1-100: 1 STUPIDCOIN
Blocks 101-500,000: 100 STUPIDCOIN
Blocks 500,001-1,000,000: 50 STUPIDCOIN
Blocks 1,000,001-1,500,000: 25 STUPIDCOIN
Blocks 1,500,001-2,000,000: 12.5 STUPIDCOIN
Rewards will continue halving until the maximum supply has been reached.
Transaction fees will provide the long-term incentive for miners after block rewards become insignificant.
Genesis Block
Timestamp message:
Another coin launches and somehow we are all still here
Genesis block hash:
00000f1a37c8e5649b2d103eea4490bd697f35ab815c4a609d21e80c4f73bb12
Merkle root:
8c753fd092ea4fb18f47d5b43cf7f3e452ca1d18b79ac307125e735ffc02e419
Genesis nonce:
2087146
Genesis time:
1384027200
Genesis bits:
1e0ffff0
The genesis block information is included in the public source code and can be independently verified by anyone.
Why StupidCoin?
StupidCoin is not claiming to solve artificial intelligence, world hunger, quantum computing or international banking.
It is a basic cryptocurrency with a public blockchain, open-source code and a transparent Proof-of-Work launch.
The name is honest because cryptocurrency is full of stupid things:
Stupid names
Stupid promises
Stupid prices
Stupid arguments
Stupid mistakes
Stupid people becoming unexpectedly rich
StupidCoin does not pretend to be smarter than it is.
It sends coins from one wallet to another and records the transactions on a blockchain. That is all it needs to do.
Development Roadmap
Phase One
Release source code
Release Windows and Linux wallets
Establish stable network nodes
Launch public mining pool
Add block explorer
Phase Two
Release Mac wallet
Build paper-wallet generator
Add community mining pools
Update official website
Release community translations
Phase Three
Develop merchant tools
Release mobile wallet
Submit exchange applications
Expand the public development repository
Introduce community voting for future upgrades
There are no guaranteed exchange listings or promised prices. Exchanges decide independently whether to list a coin.
Community
Website:
http://www.stupidcoin.invalid
Community forum:
http://forum.stupidcoin.invalid
IRC:
irc.freenode.invalid #stupidcoin
Twitter:
http://twitter.stupidcoin.invalid/stupidcoin
Reddit:
http://reddit.stupidcoin.invalid/r/stupidcoin
Wiki:
http://wiki.stupidcoin.invalid
Faucet:
http://faucet.stupidcoin.invalid
Developers, miners, pool operators, translators and people with stupid ideas are welcome.
All major announcements will be posted in this thread.
Frequently Asked Questions
Is there a premine?
No. The premine is zero.
Was there an ICO?
No. StupidCoin can only be produced through Proof-of-Work mining.
Does the developer receive part of every block?
No. There is no developer tax or automatic founder reward.
Why is it called StupidCoin?
Because pretending it has a serious name would be stupid.
Will it be listed on an exchange?
Exchange applications will be submitted after the network is stable. No listing is guaranteed.
Will STUPIDCOIN increase in value?
Nobody knows. Mine and use it because you like the project, not because somebody promised guaranteed profit.
Is StupidCoin a Bitcoin fork?
The codebase is derived from Litecoin and uses the Scrypt Proof-of-Work algorithm.
Can I mine with a CPU?
Yes, although GPU mining will usually produce a higher hashrate.
Where can I see the blockchain?
The fictional explorer is available at explorer.stupidcoin.invalid.
Known Nodes
192.0.2.17:19191
198.51.100.24:19191
203.0.113.81:19191
node1.stupidcoin.invalid:19191
node2.stupidcoin.invalid:19191
node3.stupidcoin.invalid:19191
More nodes will be added as the network grows.
Launch Rules
The source code and compiled wallets became available publicly at the same time. Pools were asked not to begin accepting miners until the public launch started.
Any serious bugs discovered during the first hours should be reported in this thread. Do not send large transactions until the network has been tested and the blockchain is stable.
Back up your wallet.dat file and never share your private keys.
Final Message
Bitcoin proved that decentralised money could exist without a central authority.
StupidCoin proves that decentralised money does not need a sensible name.
Mine it, trade it, send it to your friends or lose your wallet password like everybody else.
STUPIDCOIN - Proof-of-Work for people smart enough to admit this is stupid.
