I must say the Pride-cometh-before-the-fall here is Epic.
I anticipate that BTC will in the following day or so stabilize at around half its peak value but then follow a gradual decline back into the 30-60 dollar level over a month or two. In other words we will see a broad replication of the July 2011 bubble and crash, simply from a higher base price. Now it's still very likely that BTC will in the long term stabilize at a price higher then what it had just before the bubble started in February, but this means that as in all bubbles people who came in late will have lost.
It will be interesting to see what happens to the alt-coins, will they fall in sync with BTC, or will their value be largely dis-connected from it. LTC logically has potential to be disconnected because of its differing hash, on the other hand it is also closer to BTC in being 'big' (well bigger then the other alts) so it might be effected by broad public perception of crypto-currency.
I'm hopefull that alts can start to emerge out of the shadow of BTC and that their will be a movement away from the mentality that BTC and it's original protocol was some kind of perfect thing handed down by a demi-god. But rather that the future is going to be a succession of one alt supplanting another in a potentially endless succession (or at the least keeping them from stagnating), the same standard we expect with any other piece of software.
This guy gets it. As far as the altcoins, it seems like LTC has stayed relatively stable vs. BTC and some of the others have increased. I don't think any altcoin price will be substantially decoupled from BTC until it has widespread merchant support, which (imo) LTC is the closest to attaining right now. |
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What's causing the difficulty to change so much so suddenly?
Also having problems connecting to the pool.
I have no control over difficulty. The Terracoin devs just implemented a new difficulty scheme. Restarted pushpool again when I woke this morning. |
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I had to change the password salt, please perform a password recovery.
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anything that can be done about the massive amounts of stales or is that just a product of the crazy difficulty swings
Are you still getting stales? I restarted pushpool earlier to try to fix that. Not as much but it's whenever the algo drops the difficulty it seems we spike in invalids(watch the pool efficiency drop by about a % or more) because it changes so fast. Yeah, I'm working on getting stratum set up, that should help a lot with the fast difficulty changes. |
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anything that can be done about the massive amounts of stales or is that just a product of the crazy difficulty swings
Are you still getting stales? I restarted pushpool earlier to try to fix that. |
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I'm getting internal server errors on the RPC port, I think it's fucking with simplecoin because the code isn't catching the errors properly. It led to simplecoin thinking I had ~400 TRC in my wallet (likely from trying to process the same found block multiple times due to the RPC errors)
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ok, payouts for 101627 are in everyone's balance.
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There was also some kind of problem with the cronjobs, which is why everyone's balance is showing zero right now. For some reason, it was showing that approxiamtely 400TRC was owed, even though we have only found 8 blocks so far (we found 9 but one was orphaned.) I have lost the payout information for a single block (101627), so I'm going to have to pay that one out manually (proportionally) based on the number of submitted shares. Those payments should show up in your accounts soon. I am going to go back and figure out payouts for that block manually, and the remaining blocks haven't all finished being confirmed yet so they'll be paid out as soon as they are. A couple people tried to take advantage of the db messup and transfer out hundreds of TRC, but luckily the hot wallet only had around 20 TRC in it so those transactions all failed. Unfortunately due to not having a recent db backup (most recent was 3 days old) I also lost information on about 20 TRC worth of un-withdrawn balances from the first 3 blocks we found. I have begun backing up the db 6x daily so hopefully this won't happen again. If you had a substantial balance from the original 3 blocks that you hadn't withdrawn yet, PM me and I'll try to figure out how much you're owed. Most people who hadn't withdrawn yet were less than 1-2 TRC for those blocks, though. I still have the 20.xx coins in an offline wallet so all should be good there. I'm also fine if you want to donate it to help me run the server  Upgrading to an Amazon "Small" instance is going to run me around $30-40 a month. |
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No connect either
Edit: Working now...
Note that you do have to create miners in the "Account detail" page, unless you use the default
logain:<username>.1 and pw:x
Yeah, I had to add some storage earlier.. I rebooted the server and forgot to activate the swap file, so it became unstable. Should be good now, and adding 4GB of permanent swap. I will most likely upgrade the instance to something with more CPU and memory once I get all the kinks worked out of the software. |
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Difficulty dive! We are up and hashing! Coinotron TRC is closed so iirc we are the only TRC pool right now!
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Pride cometh before a fall?
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I have accounts on 4 exchanges (Gox, btc-e, bitfloor and vircurex).
Right now there is no quick way to transfer money between them, which is probably most of what is driving the large price differences in BTC among the exchanges.
With widespread adoption of LTC, it will be much easier and faster to transfer between the various exchanges due to faster confirms.
I'd imagine that anyone who's figured out a way to make money off cross-exchange arbitrage will not be in favor of the exchanges implementing LTC. This may be the reason we see resistance to it here.
Thoughts?
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It is funny to watch a group attempting to maintain pumped up, unrealistic value of something valueless.
Oh the irony |
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I'm sorry but I do not understand the programming. I've make my rig by HOWTO. I think that the error is due to the network. Look at my screenshots 4 posts up. The blocks are not confirmeded in order. I write in vpool support of the morning, they promised to ask the PPC developers. As soon as I saw the error, I sold all the coins on btc-e. I am satisfied!  so.. scammer tag? please? asap? |
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ripple is a scam.
Don't know if it's a scam or not but it is worth exactly zero the same as BTE. But you know what they say about fools and their money? We are watching it happen. This is why it's a scam. From their https://ripple.com/bitcoiners/ All ripples were made at the network’s inception (100 billion). No more will ever be created. The founders donated 80 billion to OpenCoin, Inc., the maintainers of this site. OpenCoin, Inc. plans to give away the majority of these for free. So in other words, ALL of the coins are premined, and 80% have already been given to the creators. |
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No idea. I'd like to know what's going on too.
It was running really slow all day, maybe he's upgrading. |
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Anyone know what is going on?
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Thanks for the useful reply crazy_rabbit. But I didn't get one thing:
Litecoin, while it's safe from the current generation of ASICS's it's also requires a significant rewriting of every bitcoin application out there to be functional. TRC's bitcoin similarity, allows it to be nearly dropped right in. Meaning once it hits some network effect level, BTC services can quickly add TRC functionality.
I don't see how scrypt affects merchants and other services.
From a merchant point of view all cryptocoins are practically identical. |
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I still can't download the blockchain... Are people actually running the client?
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