News you want to implement in SAT, are creating uncertainty among investors.
Maybe it would be good if the DEVs were giving some explanations about progress
News was not meant to be used to scare folks away. It was meant to be as transparent as possible on the current state of the ongoing research. Crypto is all about pushing new bounds, this is just one that will require a bit more effort to get past. Also, keep in mind this is all open source, so the work I am doing will benefit the community. Knowing how to adjust a blockchain to an entirely new hashing function will be a great lesson. //start rant. On a side note. If you are dumb enough to invest money you can't afford to lose in this crazy altcoin playground. Please go sell and move the money to a mutual fund for safe keeping. The altcoin space is all about attempting new things with the technology, the day to day greed, money making scheme are all secondary. All these alts have no value other then to provide a testing ground for new ideas. Some of those ideas will stand on their own and gain value. Saturncoin has the idea of a coin that helps the community, either use it for that, or choose one of the other 410 coins. /end rant. |
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So my general consensus at this point is porting the algo from POW to POW with POS is pretty pointless if you want to keep the same blockchain. Best method is as Shakezula said is to just re-release with a new chain. Are there any successful ones yet? Bellacoin dev is working on it on the side, but has not made ay progress. My general test fail since the merkel tree is always going to be different in each case. Still testing and will try a few more hacks.
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If someone has their wallet open. Please send 1 or 2 SAT to this address: SdUXqaYtNEVoq9fTTTvPMed47BFGVoZV2i
testing a compile and want to make sure it is in a happy place.
I sent 10 SAT from SgAygaz7ZqwceAq5W1q4WHGkgpTpvQcRyj Chin chin! If someone has their wallet open. Please send 1 or 2 SAT to this address: SdUXqaYtNEVoq9fTTTvPMed47BFGVoZV2i
testing a compile and want to make sure it is in a happy place.
Sent from Cryptsy 5, I guess to prove served. The main portfolio is cold and I prefer not to touch Got it. 14.90 delivered to the compiled wallet. Thank you for helping. Will add it to the Foundation fund when I am done testing. |
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If someone has their wallet open. Please send 1 or 2 SAT to this address: SdUXqaYtNEVoq9fTTTvPMed47BFGVoZV2i
testing a compile and want to make sure it is in a happy place.
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I'm buying some more millions at 4-5 satoshis, I think we are at the bottom until end of april then it will be a fireworks !
Considering it is still profitable to mine from 2-4 satoshi per SAT, I am sure we may get a bit lower. Also the crypto community tends to.... ....look a squirrel... Sorry....where was I...oooooohhhh shiny IPO...... sigh. So without news from dev team being posted on a daily basis you will get some wavering in the masses. |
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Lots of folks selling at 4, wonder why. Guess mining and converting to btc is still the safest bet.
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We are averaging 28 minute blocks with the re-target set to hit in 17 blocks. So it will be slow going for the next 8 hours unless some hash gets added to the network.
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One of the weaknesses of crypto is block diff and centralization of pools. Crypto was meant to be mined by millions of computers running the software. The trap that btc and others fell into is the mining arms race. This causes the blockchain to be secured by fewer folks. So when 3 of the 5 miners on the network go down, you see blips like this. Going to POS will help to fix this as the chain will still move forward when people are not mining with POW.
Keep in mind that a major disadvantage of POS is the blockchain bloat that securing the network creates, but it is a move in the right direction.
Kudos
can you explain i better?  Which part? POW diff readjustment, or POS block-chain bloat? For the first, it was never intended to have huge facilities mining a cryptocoin, each client was suppose to maintain the network by providing a full node, + confirming transactions as they happen. Then a random person that had the computer running and confirmed transactions would get a block and the reward as incentive to keep the program open. As more people opened the program, the difficulty to create a block ( sha256 has of previous block ending in 00000 etc..) would go up. If 10 people are mining and the difficulty is holding at 5, but then 7 of those people stop mining...you will still have to deal with a difficulty of 5 until a re-target. In SAT's case this is 25-33 blocks. Hope that helps..perhaps someone else can explain better. BTW This guy Satoshi wrote a nice white paper..Worth reading. Also the one that Sunny King wrote is a good read. https://bitcoin.org/bitcoin.pdfhttp://en.wikipedia.org/wiki/Peercoin |
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One of the weaknesses of crypto is block diff and centralization of pools. Crypto was meant to be mined by millions of computers running the software. The trap that btc and others fell into is the mining arms race. This causes the blockchain to be secured by fewer folks. So when 3 of the 5 miners on the network go down, you see blips like this. Going to POS will help to fix this as the chain will still move forward when people are not mining with POW.
Keep in mind that a major disadvantage of POS is the blockchain bloat that securing the network creates, but it is a move in the right direction.
Kudos
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Blocks are moving. http://23.252.113.113:3312/chain/SaturncoinShort Link: http://23.252.113.113:3312/b/12QcDBxELWHash: a3e11566e137c2ece1806d9f0b49dafcdee81f2e8b327341de0992879ba7d416 Previous Block: cd611c07c196cf26ea4132786a24ef1d96eb4038ff9ab8b03f694803d59121c7 Height: 65911 Version: 1 Transaction Merkle Root: dc26a998d21482a4a5ec849913d287542cf68f7a0739ec879191cf5d059edc28 Time: 1398104262 (2014-04-21 18:17:42) Difficulty: 10.047 (Bits: 1c197ab0) Cumulative Difficulty: 512 450.731 Nonce: 2362790913 Transactions: 8 Value out: 136699.69682518 Transaction Fees: 5 Average Coin Age: 25.4484 days Coin-days Destroyed: 22050.36072941 Cumulative Coin-days Destroyed: 53.5774% |
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Taking a look. With the dif up and the pools dropping it should resolve soon.
Spartans hold?
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i am buying! i expect a nice pump soon
Most SATs have been purchased at or above 6 satoshis levels, the development team is doing a good job in just 10 days and POS switching to a new version of the wallet with some improvements will be announced, also in AltOutlet be in 5 days because we are third in the ratings, thanks to the community every day is bigger. In short, it appears that the price should start to rise soon. regards Was hoping to get a few more at 5-6 sat so it better not rise too fast. :-)~ Great jobs on the anti-ivory petitions. Saturncoin, the coin with a strong community and great causes. |
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Any mac users floating around? Please pop over to freenode #saturncoins
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Sorry, trying to get some work done today instead of spending too much time on here. :-)
So far for Foundation budget spending we have 2 million earmarked for Moviejump when he completes the video.
Foundation could use some more members, so please post your interest here regarding joining and share a little about yourself.
Will be getting some organizational stuff done for the rest of the week to help with some of the logistics of adoption.
Try to keep the coin as decentralized as you can. The more power a foundation and a few members got the closer it is to failure. I'm no fan of "foundations" since the scandals in which the BTC one was involved. My recommendation is that once the coin is healthy and the dev team has a core group working on the source repo that the foundation only works on promoting causes, adoption and other areas related to finding uses for SAT. Ultimately it is the miners/pools that have the power to accept or reject changes in a coins algorithm and that works as a check against developers. |
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Sorry, trying to get some work done today instead of spending too much time on here. :-)
So far for Foundation budget spending we have 2 million earmarked for Moviejump when he completes the video.
Foundation could use some more members, so please post your interest here regarding joining and share a little about yourself.
Will be getting some organizational stuff done for the rest of the week to help with some of the logistics of adoption.
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FYI. 5:30am in China atm so we should see some good rise as they realize they are missing out on the fun.
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I'm doing a research project on coin distribution for both older and new coins. I'm interested on gathering some data for top addresses and how much of the coins the top100 have. This along with the number of people (addresses) actually holding any amount of coins.
I have some info from bitinfocharts on a few coins but I really do need some data on other coins along with less exposed or new ones.
If anyone knows an explorer with this feature drop a line.
You should be able to install abe for any of the block chains. |
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I think short term 50 satoshi price is a good goal. Long term I would say closer to 300 - 500 satoshi per SAT. We should see some dumping short term as miners start dumping again before Dif adjust.
WHAT ? Really ?  Sure. I even used a crystal ball to tell the future. Those are my personal thoughts on the matter based on community involvement, dev support and number of coins. As always who knows for certain, I could just be delusional. |
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Remember to be kind to poor Saturncoin. It just woke up form a long rest and needs some TLC
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