Sexcoin: Not your usual Cryptocurrency
SexCoin is one of the few currencies to rate a mention by the Washington Post, CNN Money and International Business Times. Max Keiser host of the financial program “The Keiser Report” stated “Sexcoin is the first industry specific crypto that has billion dollar blockbuster encrypted all over it.” Sexcoin is gaining attention outside of the cryptocommunity because it offers something most alternatives to Bitcoin don’t … A solid business model.
The cryptocurrency market is saturated with hundreds of Bitcoin alternatives. While this provides a testing ground for innovative features, many rely on rarity or popularity for value. Every one of them competes with Bitcoin, although it’s code can be updated to include most features if an alternative begins to seriously threaten it’s market. Relatively few of them are accepted by real world businesses, and those that do are plagued by the same problems that challenge adoption of Bitcoin itself. Lacking the popularity, development and infrastructure of Bitcoin they are unlikely to out compete it.
When you consider a real world good, such as a pizza, it requires a time sensitive delivery. At the point of delivery traditional payment methods such as cash, EFTPOS or credit card are not only well established and more convenient to the consumer, but preferable to the merchant as the volatility of cryptocurrency can lead to significant losses and pose significant risk. While speculators can wait for the value of a currency to recover, businesses need to replace stock, or consumables and materials as well as cover their operating costs immediately. For these reasons cryptocurrency provides no advantage, is high risk and is unlikely to be adopted as more than a gimmick.
Statistics show that the Adult entertainment Industry has an annual global turnover of 96 billion dollars, with 28,258 internet users viewing adult material every second which are essentially digital goods. These goods are generally worth little per item, which makes industry the eminently suitable for adoption of the microtransactional business model. Due to fees charged on each transaction with traditional payment systems the industry has struggled to adopt a microtransactional business model, which has been so successful in other online entertainment industries such as gaming and music and in some cases credited with reviving them. The microtransactional business model is also more attractive to the consumer as they are no longer fettered by time constraints imposed by the subscription business model, and can pay for only the content they want, when they want.
The microtransactional business model can be adopted in addition to the existing subscription model. As such it presents to the provider a low risk way of accepting additional payments, and increasing their customer base. It has the potential to allow customers to purchase material from promotional pages affiliated to the site, increasing points of sale.
In the case of Sexcoin gaining wide spread adoption for digital goods in the adult industry, not only is there reduced risk of accepting payment despite market volatility because the goods are virtual, but the industry has struggled with traditional payment methods. The use of credit cards has left the industry open to “friendly fraud” whereby customers charge back payments and “unfriendly fraud” whereby stolen credit card details are used as payment to check their validity. With banks charging fees to the content provider when this occurs, the Adult Industry is essentially high risk and has had difficulty with banks refusing to help them in their commerce. Providers of adult material have unsuccessfully searched for alternative payment systems.
The industry has in some cases adopted Bitcoin as a payment option because it eliminates this problem entirely, however while SXC has not been crafted as a global currency for all transactions and cannot compete with Bitcoin in this purpose, It has been designed and branded specifically for this niche, and out performs and can out compete Bitcoin within it. SXC is not designed for speculation as a digital commodity and does not depend on rarity for value. It is designed for commerce with enough coins being generated to make it more affordable per unit and more easily obtained by the consumer. SXC is ten times faster to confirm than Bitcoin, but the block time is slow enough to ensure the data from commerce is propagated throughout the network. It does not use experimental algorithms which may lead to instability, but relies upon proven ASIC resistant scrypt.
Solo Mining Config:
Sexcoin Core integration/staging tree
What is Sexcoin?
Sexcoin is an experimental new digital currency that enables instant payments to anyone, anywhere in the world. Sexcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Sexcoin Core is the name of open source software which enables the use of this currency.
For more information, as well as an immediately useable, binary version of the Sexcoin Core software, see https://sexcoin.info
Sexcoin Core is released under the terms of the MIT license. See COPYING for more information or see http://opensource.org/licenses/MIT.
Developers work in their own trees, then submit pull requests when they think their feature or bug fix is ready.
If it is a simple/trivial/non-controversial change, then one of the Sexcoin development team members simply pulls it.
If it is a more complicated or potentially controversial change, then the patch submitter will be asked to start a discussion (if they haven't already) on the irc channel
The patch will be accepted if there is broad consensus that it is a good thing. Developers should expect to rework and resubmit patches if the code doesn't match the project's coding conventions (see doc/coding.md) or are controversial.
master branch is the official branch. Tags are created
regularly to indicate new official, stable release versions of Sexcoin.
Testing and code review is the bottleneck for development; we get more pull requests than we can review and test on short notice. Please be patient and help out by testing other people's pull requests, and remember this is a security-critical project where any mistake might cost people lots of money.
Manual Quality Assurance (QA) Testing
Large changes should have a test plan, and should be tested by somebody other than the developer who wrote the code. Creating a thread in the Sexcoin discussion forum will allow the Sexcoin development team members to review your proposal and to provide assistance with creating a test plan.
Important: We do not accept translation changes as GitHub pull requests because the next pull from Transifex would automatically overwrite them again.
Development tips and tricks
compiling for debugging
Run configure with the --enable-debug option, then make. Or run configure with CXXFLAGS="-g -ggdb -O0" or whatever debug flags you need.
If the code is behaving strangely, take a look in the debug.log file in the data directory; error and debugging messages are written there.
The -debug=... command-line option controls debugging; running with just -debug will turn on all categories (and give you a very large debug.log file).
The Qt code routes qDebug() output to debug.log under category "qt": run with -debug=qt to see it.
testnet and regtest modes
Run with the -testnet option to run with "play litecoins" on the test network, if you are testing multi-machine code that needs to operate across the internet.
If you are testing something that can run on one machine, run with the -regtest option. In regression test mode, blocks can be created on-demand; see qa/rpc-tests/ for tests that run in -regtest mode.
Sexcoin Core is a multithreaded application, and deadlocks or other multithreading bugs can be very difficult to track down. Compiling with -DDEBUG_LOCKORDER (configure CXXFLAGS="-DDEBUG_LOCKORDER -g") inserts run-time checks to keep track of which locks are held, and adds warnings to the debug.log file if inconsistencies are detected.