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Title: Freicoin will soon get blockchain stuck? Post by: ehoffman on April 13, 2013, 02:57:02 PM Right now, FRC are mined like crazy. They are designed to be mined at a rate of 1 block each 10 minutes, but right now, they are mined like 1 block per 2 minutes. The only reason is that it's worth more to mine them, once converted to LTC and then to BTC than mining BTC directly. But in about 75 blocks, the difficulty will rise, probably 4x (the max increase rate). Then people will abandon them, like it was earlier this year. Except than instead of being stick at 9K, difficulty will be stock at 19~20K. So is FRC about to be graved?
Difficulty rise will happen at block 22176. And right now we are at block 22100. Probably 22101 by the time I press 'send'! So in about 2 hours now... Title: Re: Freicoin will soon get blockchain stuck? Post by: cdog on April 13, 2013, 03:01:29 PM Maybe a mod can move this to the FRC thread, I dont think this needs its own thread, forum is a bit clogged as it is now.
Title: Re: Freicoin will soon get blockchain stuck? Post by: Bicknellski on April 14, 2013, 02:46:55 AM It needs its own thread...
We should all have our own board for each crypto actually. The next update will hopefully fix this issue and from what I have heard it will be a fork to fix the difficulty issue. I think the plan is to put in place a PPC type difficulty adjustment but we won't be in the graveyard again... here is hoping the Devs are ready to do this now. Title: Re: Freicoin will soon get blockchain stuck? Post by: Ignore@YourPeril on April 14, 2013, 07:19:02 AM I am not so sure a change of the diff adjustment is the right thing to do. As long as the drop in hash rate doesn't make transfers impractical the best thing might just be to let it trod along. A phugoid converging towards higher levels of difficulty in the throughs is a bullish signal, just jumping up and down (for bitcoin like diff algo: 4x) is not.
Title: Re: Freicoin will soon get blockchain stuck? Post by: Impaler on April 14, 2013, 09:10:06 AM It looks like we have come through this difficulty bump ok so far, hash rate is down but only by about half so blocks are coming in at 20 minutes each (according to cointron). Compared to our earlier hash-rate slumps this is quite mild and we see a trend of each slump being smaller then the last.
We have also seen a profitability drop but I suspect this will correct soon as we have been seeing FRC appreciate relative to other coins as BTC has crashed Currently LTC is $2.447 and the LTC/FRC exchange is 0.0075 which puts FRC at 1.8 cents. It looks to me that the FRC/USD rate is remaining stable or at least more stable then the rate between other coins and the dollar, but this is hard to say for sure because FRC is not traded directly for USD and the exchanges are small and operating slowly. |