Difference between revisions of "History of HoboNickels"

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Latest revision as of 01:00, 7 December 2014

HoboNickels were created with a cloned and customized implementation of the NovaCoin source. NovaCoin is the first fork of PeerCoin. It could be said that on the family tree of coins, Bitcoin would be HBN's great grandfather, PeerCoin the grandfather, NovaCoin the father, and similar coins like BottleCaps and BitGem are siblings.

Development History


HoboNickels first appeared on bitcointalk.org on July 24th 2013. HoboNickels were listed by a user/developer thundertoe on BitcoinTalk.org.

According to thundertoe, HoboNickels were thought up on Cryptsy chat and were created for a member of the crypto-currency community that goes by the screen name cryptohobo.

   thundertoe: Ok some background there is a well known member of the crypto community who calls himself the cryptohobo[...]crypsty chat got together started throwing ideas around decided to pay tribute to the hobo.. hes is not online yet and doesn't know this coin is out.. i wanted to have this coin done and give it over to CryptoHobo to run with. Big thanks out to shakezula for running with this.

HoboNickels were created by multiple developers and was intended to be an open group project.

   thundertoe: HBN is a open group project. There is a very strong HoboNickels group of devs and supporters behind it. Anyone is welcome to help or contribute. The spirit of this whole project was everyone pitching in to help others.

Tranz as lead developer

A few days after the coin was announced, Tranz appeared in the main thread offering to buy some HBN.

   Tranz: I'll buy some HBN 1k+ PM me offers.

Tranz continued to post in the HoboNickels thread, offering help to those having problems, and also researching the HoboNickels source code on the side. After several months of working in conjunction with thundertoe and also consulting with mullick (Bottlecaps developer), Tranz found an important flaw in the source code. The Proof of Stake algorithm was actually one decimal place off and was not generating the advertised 2% stake every 10 days.

   Tranz: in main.ccp and .h
   static const int64 MAX_MINT_PROOF_OF_STAKE = 10 * CENT; ...
   ... CBigNum bnRewardCoinYearLimit = MAX_MINT_PROOF_OF_STAKE; // Base stake mint rate, 100% year interest ... CBigNum bnLowerBound = 10 * CENT; // Lower interest bound is 1% per year CBigNum bnUpperBound = bnRewardCoinYearLimit;

   I think MAX_MINT_PROOF_OF_STAKE should be 100 * CENT

After implementing a full fix for the staking problem, Tranz officially took over as the HoboNickels lead developer. As the lead developer Tranz has focused on ensuring the stability of the HoboNickels network, adding new features to the HoboNickels wallet client, providing technical support, and much more.


In July 2013, Tranz started a charity drive on bitcointalk.org for the United Way. The charity drive was through Tranz' employer who would match any donations that were received. Tranz also matched incoming donations, so each individual donation multiplied by a factor of four.

   Tranz: Total Collected: 7,658.35 + Total Matched: 6,953.35 + Interest Earned: 57.481288 = Total HBN in Fund: 14,669.181288
   Current Donation Estimate: 14,669.181288 * 2.5c = $366.7295322
   Final donation after 2nd match: $366.7295322 * 2 = $733.4590644

Tranz has also stated several times that plans are in the works to implement a stake for charity in an upcoming version of the wallet, where stakes could automatically be transferred to the wallet of a charity.