One or 2 big Dutch investors could easily buy up every single NLG (1.7 Billion coins in 40 years) at 1000 Sat without them even noticing. That would be unhealthy for the currency...
Why would said "investors" put money in something that will end up losing value due to their own actions? No sane investor would ever do something like that. |
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This isn't an exploit with hashrate. In fact, if this is the exploit I think it is, you don't need a lot of hashrate to do it. ...knip...Anyone else noticing the extremely long lag on the blockchain right now? It was like 2 hours of no updates, then all of a sudden we jumped 6 blocks. My wallet, the seeds page, and the exchanges all had the same issue. -Fuse EDIT- Looks like the total network hashrate halved, and the block times are coming in faster than normal. Not saying this is what it is, but I've seen this with coins being attacked with exploit attacks. I would suggest pool ops keep an eye on your pools. EDIT- Looks like we're cracking blocks every 5 seconds. This isn't normal.EDIT- https://explorer.guldencoin.com/#/address/Gf7wGAwJGDLfoHcNCRLKZqpk2EQU5ixA6c - our mystery wallet claiming all these blocks right now. We're watching this closely right now.. What seems to have happened is that a jumppool/multipool mined until KGW changed the difficulty to 535 (block 116955). After that the multipool left and the remaining miners had a hard time mining blocks. A few hours later two blocks were mined and the difficulty dropped to 354 (block 116957). At that point the multipool started mining NLG again. Since about 2:30 hours of blocks were missing the KGW kept difficulty low so the pool could mine a lot of blocks very fast. Other miners also got some blocks, but G7f got most of them because they have a lot of hashing power. We're now at block 117047 with diff 483. The last two blocks were not mined by the multipool, it seems they have left again. The main problem here is the huge spike in block-time which causes delay in transactions being confirmed. This is unacceptable and we're doing extensive research on the problem and are looking at some solutions. But don't expect anything too soon, it's important to make rational decisions and not jump too quickly in a situation like this. People that know me know I'm the last person to make stupid panicked decisions. That being said, I think a form of Digishield, or similar, needs to be added to the roadmap ASAP. That, or you just ask the pool to stop mining NLG. Pool OPs are usually pretty respectful of coin devs. The other option is to flat out block the IP range of the pool in the wallet code, and effectively just shut them out. 12 second block times aren't normal, regardless. Especially with a difficulty of 300+. -Fuse Just want to add that we are taking this very seriously and the investigation into other protocols is our top prio now. It's not a matter of if we will implement but which one. And of course this will have to be planned carefully. +100 Regarding the algo change I think the best choices are between Digishield and DGW2. KWG seems to be the problem. How about removing/deactivating KWG and making the code more simple? <edit> If completely removing the code isn't an option: While we are calculating both values anyway. Couldn't we make the network to accept the network difficulty in all odd block numbers and the KWG difficulty in the even block numbers? </edit> |
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wish some coffee shops accepted it too haha
Hey kingscrown, We do have our 1st coffee shop accepting the coin. Coffee Central in Leeuwarden. https://guldencoin.com/nl/pay-here --> Dutch https://guldencoin.com/pay-here --> English Espressobar with the best coffee of Leeuwarden. Wirdumerdijk 34 8911 CE Leeuwarden Tel: +31620402450 coffee-central.nl I think he means a different type of coffee shop.  |
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@markanth: Your help is appreciated. The fact that there is in total 8M+ NLG received on Gf7 and not kwowing the intensions is scary isn't it? I can't query the blockchain at the moment for the accurate received NLG. If there is another Gd adress it's even more scary. BTW I have no problem with honestly mined coins. Is Gf7 Lucjver? If so, I can tell you that he has a considerable amount of hashpower. He hops on my TAG pool from time to time, and totally dominates the TAG network. He was one of the first people I ever saw on a pool with that amount of scrypt hashing power. So much so that the first time he hopped on my TAG pool, I started checking logs because I thought the numbers were jacked up.
-Fuse
I don't think so. Lucjver is mining at a more constant rate as far as I have seen. What do u call constant? I've seen him go from 50MH to 350 and currently he's at 1000mh. On hardcore there's also another player now 'Kloink' with 1200MH Constant in that he is always mining. Lucjver is always mining something. He may move hashpower around, but he sticks to his core coins. Even coins like TAG that are not profitable but were/are a decent prospect. I could reach out to him and see if he'll join our discussion... even if it is to just share his setup. I'd love to see what he's working with. -Fuse Exactly. Respect for Lucjver. He's mining the hard blocks! Kloink is not a guy to worry about. He's also mining hard blocks and is not even in the top 25 at http://nlg.hardcoreminers.com/index.php?page=statistics&action=blockfinder. For those who doubt what the problem is with dishonestly gathered coins: it's market disruptive. The coins can be dumped if the 'owner' was able to get them to cheap. If you'd payed a fair price, you would think twice before selling to low. This jumping up and down in hashrate happens when you buy external hash power. As a buyer you set the maximum hash speed limit and place your bid in btc/gh/day. But if other buyers place a higher bid, the miners stop hashing for you and move on to the higher bidder. I am trying and testing this buying of hash power right now at NiceHash.com and my hashing power fluctuates constantly. At other places you can buy mining power for a predefined time. During that time it is all yours. |
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// Miner setback : We have trouble with our payment provider, they are not willing to accept anything that has something to do with bitcoins anymore.
I don't think anyone sees that as a problem. Who is that payment provider? |
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You can calculate all the formulas you want, but mining has always followed (and will follow) market price, not the other way around.
And how do you think that marketprice is determined ? Any serious miner will want to make money, simple as that, so if your total investment in equipment and your running cost will be higher than your return on investment there's no point mining if that will actually cost you money. I have provided this information simply as a tool for people to use or not to use, nothing more and nothing less  Marketprice is determined by supply and demand. The quality of the coin (active devs, community, shops accepting it, etc.) determines this. You can invest all your money in some mining equipment to mine some coin, but if nobody wants the coin you can wait for ages to sell them. You can can calculate the marketprice is 1000 BTC (because of your investments), but if nobody will buy it... who are you fooling? In the mean time your equipment breaks down and electricity still has to be paid. Hence you will stop mining because you can't sell the coins (Miner follows the market, the market doesn't follow the miner). Edit: When bottom is found most of the miners will hold their coins for higher prices again. Question is what is the bottom.
Just waiting for the moment the bulls are back in town
Again, miners following the market. I think you are completely missing my point here, the calculation gives you the break even point, to make it easier to determine to mine or not to mine at current market price, so yes it follows the market so I don't understand your arguing when it simply does what you stated  Let's get the quote back that started this: There is always a bottom for every coin, and there are parts that can be calculated, a mining rig costs money to buy, running a mining rig consumes electricity which also costs money in most cases.
This bottom (market value) is not determined by miners and the bottom is not the break-even point (market value that needs to be for ROI). Two different things, yet you put them in the same sentence... so yeah, I think I completely missed your point. But I know what you mean now. |
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You can calculate all the formulas you want, but mining has always followed (and will follow) market price, not the other way around.
And how do you think that marketprice is determined ? Any serious miner will want to make money, simple as that, so if your total investment in equipment and your running cost will be higher than your return on investment there's no point mining if that will actually cost you money. I have provided this information simply as a tool for people to use or not to use, nothing more and nothing less Marketprice is determined by supply and demand. The quality of the coin (active devs, community, shops accepting it, etc.) determines this. You can invest all your money in some mining equipment to mine some coin, but if nobody wants the coin you can wait for ages to sell them. You can can calculate the marketprice is 1000 BTC (because of your investments), but if nobody will buy it... who are you fooling? In the mean time your equipment breaks down and electricity still has to be paid. Hence you will stop mining because you can't sell the coins (Miner follows the market, the market doesn't follow the miner). Edit: When bottom is found most of the miners will hold their coins for higher prices again. Question is what is the bottom.
Just waiting for the moment the bulls are back in town
Again, miners following the market. |
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There is always a bottom for every coin, and there are parts that can be calculated, a mining rig costs money to buy, running a mining rig consumes electricity which also costs money in most cases. I have made a calculation which can help you to understand the factors that CAN be calculated, the only one that is always an unknown is the human factor. I am using 20GH/s or 20000MH/s as networkhashrate, but you can change that variable as needed, the same applies to your minerspeed. I am working with euro values but you can change all to dollars and get the same results. NLG coins per day = 576000 Electricity costs per KW/h in the Netherlands = 0,23 (eurocent) Networkhashrate = 20000MH/s Result per MH/s per day = 28.8 NLG (576000/20000) Let's say you have a Zeus X6 running at around 44MH/s and consuming 1000Watt, that means it will eat 24KW/h per day at 0,23 per KW/h which is 5,52 in electricity costs per day. Your miner produces 44 x 28.8 NLG = 1267.2 NLG per day, so the costs per NLG coin is 0.004356. The current BTC value in euro is around 370 euro, if you divide 370 / 0.004356 the result = 84940 , which gives you the number of NLG per BTC, now divide 1 / 84940 = 0.00001177 and you have your bottomprice where you break even, of course you want to make a profit and if possible also earn back your investment in your mining rig, so you will have to sell it for quite a bit more to actually make a profit. I hope this helps a bit and feel free to correct me if my calculation is off  You can calculate all the formulas you want, but mining has always followed (and will follow) market price, not the other way around. |
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in case you guys sell... where to do this ? and able to get direct EUR? And than what... free wire to your account?
Or first converse to bitcoin necessary f.e. ?
Bleutrade... to BTC and then to EUR with happycoins... if I would cash out... Currently all the profit of trading goes into trying to stabilize the market. |
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Price going wild  Indeed, but when I look at the bittrex order book, it looks healthier than 2 days ago... and still a lot of buying support. |
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Seems like the only losers here are the people selling at the moment even though they have made profits.
Thank you for calling me a loser. Some people are selling to support the growth of guldencoin. I prefer a healthy market instead of an other volatile pump and dump market. |
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Put up your hands if you miss those 100 sat prices ?
150k guldencoin on 90 satoshi i'm a lucky boy I have more than 1M NLG open orders down to 90 sat... good luck, boy. you have? of you got? Not sure what you mean, but... they have to be filled first before we see 90 sat again. |
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Put up your hands if you miss those 100 sat prices ?
150k guldencoin on 90 satoshi i'm a lucky boy I have more than 1M NLG open orders down to 90 sat... good luck, boy. |
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Will be awesome when the price is mentioned in NLG instead of Euro  Doesn't see the payment option in NLG. Bad luck, canceled the order. Translated: Hopefully later this afternoon or evening De wijntjes kunnen bijna besteld worden! Hoop eind van de middag of begin van de avond
Any update on this? |
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Bittrex down for anyone else was just about to make a small purchase.
update, it's back up for me
Yeah, noticed that as well. |
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I have been contemplating putting a sell wall at 550 to stop the price from going up higher. The problem is litebit, I think they getting more and more orders for NLG and I think my sell wall would eventually be taken out. I don't want to sell any coins either as I am one of those that want to live on cryptos, but I also don't want to see people paying 1000 Sat and then price crumbles back to 500.
Never try to stop (a strong) upward pressure, just let it flow. Better is to not set up one sell wall, but multiple (even at 1 sat difference should be possible, but is not practical). And switch it to resistance when sold for a support (to prevent it from going down again). When the price goes up the amount of NLG you have left becomes more in value, giving you more power to withstand a further upward pressure. When the price goes down, many small walls prevent a hard crash (the market will need those at some point) and allows you to set higher sell walls again. I was thinking of building a bot that could do this, but yeah.... time. |
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Once 500 gets taken out it a very easy climb to 1000. Well done on the profit you made. Believe me it's not everyday you get a alt where your value goes up or stabilizes. Smart investors here that will make sure the price they pay never goes below again.lol It might be scary to see what happens and how far this coin will be when the block rewards halve. Bleutrade hit 800 and crashed down to sub 500 again. I've put a bit of resistance on 500 that will switch to a support on 450 when it is sold (I keep a margin on 50). The bittrex order book size has hardly grown, which means that the same amount of money is pushing the price up. People are getting greedy, afraid to miss the train. And I'm not sure if the price is completely justified (long time low price in the past) or that a bubble forms (2M chart on bittrex, a small one, but still). The block rewards that halve are still far away and should not be a problem now. |
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iOS must be in the apple store first. So far only first requirement has been met. Ah... overlooked that. |
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I will personally take out all the NLG to 500 sat if PND don't release iOS wallet today and guldencoin does.
Update: Pandacoin only released a Android wallet!!!! So Guldencoin still in the running for first iOS standalone wallet on apple store.
Guldencoin in the news soon!  Still waiting for those 500 sat guldencoins.... Still waiting as well. Why? Do you wanna sell? Of course not (for various reasons), but personally I think people should put their words into action if they say something like this. Else, don't say something like that. [edit] Well, to be honest I have orders at 460 and 470 sat in place atm on bleutrade. So, yeah. I have things on sale. [/edit] |
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I will personally take out all the NLG to 500 sat if PND don't release iOS wallet today and guldencoin does.
Update: Pandacoin only released a Android wallet!!!! So Guldencoin still in the running for first iOS standalone wallet on apple store.
Guldencoin in the news soon! Still waiting for those 500 sat guldencoins.... |
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