i have a pending deposit assume its okay
Yep, it'll be processed when it comes back online. |
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The exchange will be going down for maintenance for 30 minuts within the next hour or so.
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The exchange will be going down for maintenance for approximately 30 minutes within the next hour or so.
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I thought Coblee was the original developer of Litecoin. |
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It looks to me like the memory leak in ppcoind is related to the number of blocks created/mined. My pool now has a low number of blocks produced, due to lower hash rate and the larger number of proof of stake blocks produced by others. This has resulted in needing to restart the daemon less often to reclaim memory.
I wonder if proof of stake miners are seeing a memory leak. Is anyone running a node 24x7 for proof of stake producing a reasonable number of blocks per day seeing this?
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I don't undestanded, who has created this panic ? (13-15 January)
There are 15 million PPC in existence. Get 10% of them selling their coins and the market will drop low. Especially considering that there aren't many buyers. There were a lot of buyers at the beginning probably because people were speculating that PPC would become useful. As time goes on and there becomes no way of using them anywhere the number of buyers drop, more people start selling them since there's nothing you can do with them but sell them, and the price drops further. As others have noted this is the story of most other alt coins. |
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Please exercise some reading comprehension, I know you can't change the difficulty in old block and I'm not talking about changing anything in the Bitcoin CHAIN or any existing chain, just the development software packages initial difficulty which gets put into the genesis block, that's a change which will effect only newly created chains and allow them to start at reasonable speeds.
Just to be clear so I know what you're talking about, and to remove 'reading comprehension' error, can you please post a patch with the change you are suggesting? |
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It would be a good idea if the Bitcoin software itself had the base difficulty raised in it so people don't make this mistake in the future.
They can't, because doing so would make all blocks after the block where the new difficulty comes into effect invalid. |
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Correct me if I'm wrong but If someone modifies the fork to generate a block without any foundation percentage then the existing forked clients will accept this and the original freicoin clients won't. This would result in a hard fork of the blockchain and isolate the forked clients from the existing network.
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Where is the 80% tax? I'm not too familiar with the sourcecode but that's absolutely ridiculous and I want to remove it.
If you do I expect that none of your blocks will be accepted by the FreiCoin network. Have a look in main.cpp for 'GetInitialDistributionBudget'. This shows the addresses that receive the Foundation percentage. |
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you would have the protection of the ENTIRE bitcoin network FREE as well. And that's a lot more then FRC has now.
Not really. Namecoin only has 1/3rd of the bitcoin network hash rate merge mining it. None of the other merge mineable coins (ixcoin, i0coin, devcoin, etc) has any large pool merge mining it. Some of the big pools are grumbling about including namecoin and I wouldn't be surprised to see it dropped at some point. Just because it can be merge mined doesn't mean any pools will actually bother. Unfortunately merge mining is a double edged sword. Namecoin showed it can be used to protect a coin. Coiledcoin showed that it can be used to attack one. It also seems to make the coin mostly worthless as people see it as a by product of bitcoin mining. I haven't seen any merge mineable coin gain much in the way of usage outside of "sell immediately" as a result. |
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I wonder what those huge peaks on PPcoin are...
Those are the times when it's more profitable to mine PPC and sell them to earn BTC than it is to mine BTC directly. Chain hoppers join in. |
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Now you've gotten into the mechanics of how demurrage works. Demurrage is calculated based on the reference-height, which is embedded in the transaction itself, not the height of the block containing the transaction. So the exchange would create the withdrawal transaction at the current block height, and that's the amount that would be go to the client and be reported in the client's transaction tab.
There's still this race though, unless I'm misunderstanding things: Say a user of the exchange withdraws their balance of 1,000 FRC which the exchange has calculated as the amount at "present value". During the time of processing the withdraw the block height changes due to blocks being found. Now that 1,000 being sent is backed on the exchange by 999.998 (or 1,000 less demurrage). It'll go through because there are other user funds in the exchange wallet. But over time the exchange loses out. That is the exchange has calculated the balance of the user for the withdrawal based on current blockheight and the user clicks "Go". The freicoind rpc transaction is crafted just after the blockheight changes in the second between "Go" and the RPC call. Now the value of the coins withdrawn in the transaction is higher than the amount computed internally by the exchange. This is a small window of time, and small amounts, but in a long running exchange it'll happen. I guess the exchange can avoid this by crafting the raw withdraw transaction itself, embedding the reference height it used for the demurrage calculatoin into it, and using the "sendraw" commands. That's a bit more work for the exchange however. |
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Is there an issue with race conditions between a site and the blockchain for sites that hold balances like exchanges? Say a user of the exchange withdraws their balance of 1,000 FRC which the exchange has calculated as the amount at "present value". During the time of processing the withdraw the block height changes due to blocks being found. Now that 1,000 being sent is backed on the exchange by 999.998 (or 1,000 less demurrage). It'll go through because there are other user funds in the exchange wallet. But over time the exchange loses out.
If a withdrawal takes a few blocks to go through due to high transaction volume on the blockchain or malicious miners holding back exchange blocks will this results in a bigger difference between what the exchange expected and what actually happened?
The exchange could detect the transaction when it completes, find out the real value and adjust the users balance but then an exchange account can be in debt and the user can just leave and create a new account.
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So under this approach exchange records user balance same as the other cryptocoins, without any demurrange accounting. Withdrawal fee is a percentage value greater than 1 - (current wallet balance)/(sum of user balances). It can be automatically adjusted or fixed by the owner periodically.
Doesn't this have the issue that sell orders can exist without coins backing it? If a user lists 1,000 FRC for sale which is their exact balance on the exchange then on the next block they no longer have 1,000 coins to match the order. |
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What's the best approach for services that hold user balances to account for the reduction in value of the users account over time? Exchanges and pools tend to have large balances held for users and will not want to foot the cost of the balance reduction.
Is there an API to get this? Does the "accounts" system that bitcoin have work for freicoin and include the reduction in value in the users account balances? I prefer not using the "accounts" system so I'm hoping it's not the only way.
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PPS is a little bit harder to setup for Freicoin because each block has a slightly different reward value. A lot of the pool operators are still working on a solution to this. As I quoted before, the easiest way to mine is with p2pool  This is the same with PPCcoin. Each block has a different reward value. One way of solving this is to use "getmemorypool". This returns the reward of the block currently being worked on. The pool then provides PPS based on that. |
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Freicoin is not pre-mined in the sense that previous alt-chains have been. It does however set aside 80% of the initial distribution to hard-coded addresses that are currently kept in cold storage. These funds will also be distributed by means of Freicoin Foundation grants.
Other coins have done similar as well. Solidcoin had a "coin protection fund" IIRC was used to fund projects and help raise funds to protect the chain. Devcoin has a large percentage of blocks go to "open source developers". The distribution of that is controlled by a group of people which would be similar to the foundation you suggest I imagine. Solidcoin wasn't successful but Devcoin seems to be doing ok with this approach. |
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Is there any usage of Freicoin at the moment? Many alt coins start off with speculation (and unfortunately stay there) but with Freicoin losing value over time does this mean current speculators are hoping something will happen real soon or there coins will disappear? Or am I misunderstanding how Freicoin works?
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so pool owners get a great long term return
The churn on a pools wallet due to withdrawals results in getting a 30 day coin age to be uncommon. The current ppcoin client doesn't take coin age into account when computing inputs for sends. |
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