I think there is a way to do it with out hard fork, Novacoin did recently and got their POS to 53% which shot their price up to $6 per coin at some point. Now since btc is rocking its adjusting a bit, but I am sure we will see it at $6+ again, once btc stop the run and money comes back to alts in new fear of btc drop, as always.
If there was a way, what would stop me from generating my PoS blocks with 1000000% rewards?  |
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We should really move up the PoS minting rate up to 20-45% to encourage long term holding of a coin, with a steady decline each year say 5-10% minting decrease or proportional to speed of network. Annual set decrease is good and simple enough i think. This way even non miners will be holding this coin and helping us increase supply and circulation, while attracting more investors to either buy the coin or mine and hold it. Implementing this strategy will surely allow this coin to survive for a few years which in this market could be do or die for most alts. Think about it, as the adaptation grows and more and more ppl choose to hold due to potential ROI of PoW + PoS mint, the price will stabilize and as PoS slowly start to decrease over next few years, coins will start to circulate more with out massive dumps and produce a very good alternative coin to ltc. I think this strategy could really help make this "an average man coin" since you will have ability to mine with cpu, if you cant buy and then hold and really build up holdings with out massive rigs, while mining with what you can and help the network. "Big" guys will be attracted to come in and buy up coin with renewed interest or mine it on larger scale as they see "an average man" making good ROI, which in turn will make average in to big. My two Yacs  I'm strongly against making any hardfork-requring changes to the YAC protocol. Just my two YaCents. |
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YAC mining even selling at .0001 BTC/YAC is at least 350% more profitable than mining BTC by my approximation. Did a day mining feathercoin and compared how many FC I got to how many YAC I get in a day.. plus, looked at last BTC mining numbers from a month ago... 3x what it was a month ago. YAC isn't dead or dying, the price is just adjusting to be in line with everything else.
True that. YACoin was by far the most profitable coin to mine for almost 4 months. Even now mining profitability vs BTC is quite high.I wouldn't agree on that completly: Bitcoin mining is far bigger and there isn't such an risk (f.e. slippage,vola,...) for miners so profitability has to be far greater than for BTC or LTC to compete. I also don't see the current marketcap as "just adjusting" since that 60k panicdump pushed it into very dangerous waters for short. I'm glad that we got out of there so fast and the orderbook is finally somewhat in relation with the marketcap. I really like that so many people are willing to invest not only time but also some hard earned cash on such a damm risky thing. If some you disagree on damm risky thing some you are definitively on the wrong train and will get disapointed. Maby not by YAC, but definitively in your other "safe" investments. This is no "get rich train" so don't get greedy. I will definitely fix the 0 fee issue for YAC.
Nothing to fix there since hard-coded minimum fee is 0.01 YAC. Not that I'm aware of ... 0000000449020b4994e4a857004cf31e1021c7616cacdd7aacdfc42e5d3fdc5dIf it's a very small txt I don't think we should pay fees at all. Could I actually save fees by including massive transactions in my own PoS blocks? No hard-forks please.  |
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BTC with no fee might just baunce back to sander!
More and more miners are not accepting no fee transfer!
How are these things decided? I've heard this a few times but never knew what's involved. Pools have ways to reject tranactions? The QT client for solo-mine reject transactions based on a setting I don't know about? For the bounce back part, it means sending client stop trying to send after a certain amount of time? The values are hardcoded in the client. You need to either modify the source or write your own. For example the Eligius pool accepts even non-standard transactions (ones that are ok according to bitcoin spec, but qt refuses to rebroadcast them). As for the bounce-back, you need to stop broadcasting the transaction (hard to do in qt client, you need to modify wallet.dat with pywallet; with eg. blockchain.info wallet, it does not try to rebroadcast, so the tx simply disappears (but still can get confirmed later on!)).  and thanks for explaining. well, unconfirmed transactions are kept in client memory until they either get into a block or get overwritten by another tx spending the same input (double-spend, usually with a higher fee and thus higher priority) or they expire (in case of blockchain.info server, the expiration period is 7 days IIRC, standard bitcoind/bitcoin-qt has it unlimited AFAIK, but it clears on restart -- that's why it can get confirmed even if blockchain.info is no longer showing the tx as pending). for example: you send 1 btc with zero fee, it gets stuck at unconfirmed for a week, blockchain.info removes it from their list of pending transactions but some mining pool does not, later that pool mints a block with a two weeks old tx and it's confirmed now. hope i explained it clearly. |
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BTC with no fee might just baunce back to sander!
More and more miners are not accepting no fee transfer!
How are these things decided? I've heard this a few times but never knew what's involved. Pools have ways to reject tranactions? The QT client for solo-mine reject transactions based on a setting I don't know about? For the bounce back part, it means sending client stop trying to send after a certain amount of time? The values are hardcoded in the client. You need to either modify the source or write your own. For example the Eligius pool accepts even non-standard transactions (ones that are ok according to bitcoin spec, but qt refuses to rebroadcast them). As for the bounce-back, you need to stop broadcasting the transaction (hard to do in qt client, you need to modify wallet.dat with pywallet; with eg. blockchain.info wallet, it does not try to rebroadcast, so the tx simply disappears (but still can get confirmed later on!)). |
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How can that hurt?
I think it saved it from being uber dumped to infinity and left to rot with mega high diff.
From the start, yes, but now that it's almost 112 days old... well, it would be nice to have a decent comparison available. |
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The only thing that hurts me there is stupid, premined, centralized, closed-source XRP valued at $643,779,590. Retards are many, obviously. Nah, I just ignore that one. EDIT: BTW, what I thinks hurts YAC the most is that coin-hopping sites like coinchoose.com haven't it listed (for being a scrypt-chacha based coin (or however you like to call this implementation)). This way there's no simple means to compare profitability against other altcoins and IMO that discourages many potential miners. Non-standard mining software required would be another reason. That's what I meant by "for being a scrypt-chacha based coin". But now with some YAC spin-offs, there might be incentive to add it to these sites. |
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The only thing that hurts me there is stupid, premined, centralized, closed-source XRP valued at $643,779,590. Retards are many, obviously. Nah, I just ignore that one. EDIT: BTW, what I thinks hurts YAC the most is that coin-hopping sites like coinchoose.com haven't it listed (for being a scrypt-chacha based coin (or however you like to call this implementation)). This way there's no simple means to compare profitability against other altcoins and IMO that discourages many potential miners. |
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There are still a few out there, but it will take more than the 5 minutes that it took for the YAC to be confirmed. This is the first time that I've used the new 0.8.3 Bitcoin client and somehow my fee setting didn't transfer from the older client. Ultimately, there should be a warning when trying to send with no fees. Actually I thought there was which is why I payed it no mind.
I think 0.8.3 got lower hard-coded fee so it could be that is the reason additional fee value was reseted. Anyway, switch to Bitcoin CC and you will always know what is transaction fee before actualy sending coins. https://bitcointalk.org/index.php?topic=144331.0Hehe, I'm wondering if it will actually be merged into 0.9 as they say. EDIT: nice 8 BTC buy wall on cryptsy @0.00004002 |
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BTC with no fee might just baunce back to sander!
More and more miners are not accepting no fee transfer!
There are still a few out there, but it will take more than the 5 minutes that it took for the YAC to be confirmed. This is the first time that I've used the new 0.8.3 Bitcoin client and somehow my fee setting didn't transfer from the older client. Ultimately, there should be a warning when trying to send with no fees. Actually I thought there was which is why I payed it no mind. Sorry St.Bit for the delay. No Problem as long as I recive it. I hate that bitcoin-qt doesn't warn you on such important things. Not to give you any wrong ideas, but this could be a good spot to scam someone. You could easily doublespend on me and I could probably convince you to resent the transaction since it got "rejected". I hope we won't have such loopholes when YAC has that age. Well, it states everywhere in big red letters that you should not trust transactions without confirmations. So it's not a loophole.  EDIT: LOL, they both got confirmed in the same block. |
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BTC with no fee might just baunce back to sander!
More and more miners are not accepting no fee transfer!
There are still a few out there, but it will take more than the 5 minutes that it took for the YAC to be confirmed. This is the first time that I've used the new 0.8.3 Bitcoin client and somehow my fee setting didn't transfer from the older client. Ultimately, there should be a warning when trying to send with no fees. Actually I thought there was which is why I payed it no mind. Sorry St.Bit for the delay. Actually you can send a tx without fees if it has high enough priority. Dunno why yours is still pushed to the back of the queue, though. There was a BIP (Bitcoin Implemetation Proposal) with the ability to add fees to existing transaction, but I can't seem to find it ATM. :-/ Something like this https://bitcointalk.org/index.php?topic=280766.0 |
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Awesome thanks! Just sent 1 BTC
Status: 0/unconfirmed, has not been successfully broadcast yet
Date: 8/27/13 **:33
To: 1AM4UYBjY6VyxD9oTgi8xCGB6VfQN3dcEe
Debit: -1.00 BTC
Net amount: -1.00 BTC
Transaction ID: 5fd69325ea51abcddc76ea9022cab8a5326574c9e8102777e9346a1911e04a1a
lol without a fee  good luck waiting those 3 hours |
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No. You would have to wait for the blockchain to update bevor funds are sent.
But it should be possible from the protocol's perspective. Dunno why the client refuses to do so. It also sucks if you don't have those funds already and want to check total balance.
Yeah, I use my block explorer for that, too. |
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YAC could be made ultrafast if we go even further and include electrum into yacoin-qt. As long as the bockchain is updated it will be used to send funds and check balances. Without having to wait for the blockchain there is no reason to use something else on computers.
w8, wat? electrum has to use some electrum server which has a full yacoind node with an up-to-date blockchain up and running. only electrum client is fast, the server counterpart needs yacoind AND it has to do some more processing (keeping balance of every yacoin address ever used in a separate database, keeping you recent transaction history, etc...) Faster means you don't have to wait for blockchain to update when sending funds. This isn't about transaction speed it's about the time it takes you to actually send funds. 1min to get the txt into the chain plus a day to load the blockchain is damm slow. It's just in addition to the current mechanism when that doesn't work yet due to updating. If I understand you correctly, then this is already possible. You don't have to wait for the client to sync as long as you're spending inputs from the blocks you have in your local blockchain (there's one obvious exception - blockchain forks, but they don't happen that often these days). EDIT: WTF, someone just crashed the market by dumping over 60k YACs...  now we're at 0.00005 -.-" |
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YAC could be made ultrafast if we go even further and include electrum into yacoin-qt. As long as the bockchain is updated it will be used to send funds and check balances. Without having to wait for the blockchain there is no reason to use something else on computers.
w8, wat? electrum has to use some electrum server which has a full yacoind node with an up-to-date blockchain up and running. only electrum client is fast, the server counterpart needs yacoind AND it has to do some more processing (keeping balance of every yacoin address ever used in a separate database, keeping you recent transaction history, etc...) |
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Could you start using some archive naming scheme? Maybe to add build date after yacoin-cc? Good point! Build date is irritating to compare, how about a simple numbering scheme? No it's not. I use the format YYYY-MM-DD, so even sorting by name does the job. |
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Why adding another program that does the same as the original but a little faster and can't replace it.
Yeah, show me the YAC client running on your android phone. I hope you don't want to PoS on your phone so you'd have to run yacoin-qt anyways. Why would I want to PoS mine on a phone? LOL Also, I don't have enough coins for PoS to really matter.Also, it's not like it couldn't be implemented in electrum. |
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