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Altcoins serve a valuable purpose in that they attract investors and build the true capitalization (actual dollars invested versus "market cap", which is fanciful) of the cryptocoin market. The attraction is speculative, but it exists nonetheless.
As the true capitalization grows, it serves as ballast for the entire market, making each coin more stable and more likely to be a unit of valuation. In other words, as investment in the cryptocoin market grows, it is more likely that goods will be priced in cryptocoin.
If cryptocoin valuation ever happens on a large scale, then it will be transformative for cryptocoins in general. So, even though altcoins take away from the true capitalization of bitcoin, they do contribute to its underlying utility.
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I panicked too early. The devs fixed the problem and the 1e6 coin showed in my wallet.
In the end, the fix was not a fork but a bulge (terminology borrowed from nucleic acid structural biology). 3 blocks were skipped.
I only posted here because I thought newbie status would last much longer.
Solutions are better than criticisms. I think this coin will be alright.
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tx42, you are on the supporter bounty list, please post you wallet address or PM me. Thanks.
9AkuipbZfXaEjHmAaw3YA3ho9ZDWZC6TqG Thank you! |
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My 1e6 coin showed up on the updated blockchain.
Hurray! Good job in making this a smooth fix devs!!!
[edit]
Before I celebrate too much, can someone verify that I have the correct chain?
15:32:56 <> getblockcount
15:32:56 <> 47115
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I think we started over from where the coin began generating only PoS blocks, so your tx probably was during this period and isn't counted, I think this may have been overlooked since most people aren't trading grain.
If the devs fork out transactions that were once legitimately on the blockchain, then most people will never trade grain. This really wouldn't be acceptable. |
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Synced from scratch with pre-fork wallet backup with executable grain-qt-withblock38847reject.exe with the nodes below in grain.conf
Still no luck. No transactions, no balance.
From the fix, it looks like 38847 is skipped and so all blocks should be intact, so the fix is actually a bulge and not a fork, is this correct?
If the chain were forked at 38847, then transactions afterwards are nullified and the person I acquired the coin from still has them in his wallet, presumably.
But my understanding is that this was a bulge around 38847, and so transactions following 38847 should still be valid.
Is this correct? What really happened with this coin?
=====
addnode=146.185.150.184
addnode=81.207.78.134
addnode=175.182.1.139
addnode=98.207.109.245
addnode=213.230.83.153
addnode=108.226.221.98
addnode=119.237.178.52
addnode=31.8.107.142
addnode=46.149.92.216
addnode=83.248.33.223
addnode=88.192.71.189
addnode=174.111.4.51
addnode=75.18.40.77
addnode=75.187.126.59
addnode=93.161.133.130
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I synced from scratch and still no transactions. That was 1e6 graincoins!!!! Have they evaporated? [edit] My blockchain, although seemingly correct, simply does not agree with the block explorer: From the explorer http://coinblockchain.com/grain/address/93vjdAw4GWL8Fe1HhVrKqL29jMCbf2q9od---------------------------- Balance: 1000000 GRA Transactions in: 2 Received: 1000000 GRA Transactions out: 0 Sent: 0 GRA Transactions Transaction Block Approx. Time Amount Balance Currency 4f09b0805c... 42689 2013-12-23 18:15:36 900000 900000 GRA b1a0a00c02... 42292 2013-12-23 07:12:21 100000 1000000 GRA From my console ---------------------- 23:17:37 getblockcount 23:17:37 45166 23:17:40 listtransactions 93vjdAw4GWL8Fe1HhVrKqL29jMCbf2q9od 23:17:40 [ ] 23:17:45 validateaddress 93vjdAw4GWL8Fe1HhVrKqL29jMCbf2q9od 23:17:45 { "isvalid" : true, "address" : "93vjdAw4GWL8Fe1HhVrKqL29jMCbf2q9od", "ismine" : true, "isscript" : false, ... |
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I restored the wallet, but still don't see the transactions. I am now resyncing with the binary "grain-qt-withblock38847reject.exe".
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My wallet shows no transactions, but they do show on the blockchain explorer.
After repairwallet,
I get "wallet check passed" : true
But the transactions do not show in my wallet and my balance is zero.
My deposit address shows the correct 93vjdAw4GWL8Fe1HhVrKqL29jMCbf2q9od (that was copy-paste from QT).
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Block count
22:09:01 44996
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I have an backup wallet.dat from before the blockchain fix.
Here is the data Current number of blocks: 44968
Estimated total blocks: 43783
Lat block time: Wed Dec 25 21:54:28 2013
Confusing is that the estimated total blocks matches the total blocks from the block explorer. I read a few posts back that the block explorer is synced to the old chain.
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No, my previous transactions do not show up in the new wallet after applying the fix with the patched binary and the new blockchain downloaded from mega.
[edit]
By "new wallet", I mean old wallet with the new history. The addresses are still in the address book, but no transactions appear.
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Thanks stompix for vouching that I'm not a kook. All is well, for now....
BTW, no one knows who the devs for bitcoin are, so I don't know what knd of standard that should be.
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I researched it. It had moved to PoS only, so I bought based on no new coins. The devs fixed the PoW by dropping one or several blocks without discussion. They were silent until the fix came in. You can't research what the devs will do if they are silent.
They shouldn't have fixed by dropping blocks or forking. It destroys the integrity of the coin.
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I lost graincoin to a graincoin block chain fork/fix.
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