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Oh I forgot we had a whitepaper, lets evaluate it  While Bitcoin has been gaining adoption and usability since its introduction as a viable commerce agent, it has been hampered by an inherent flaw. To complete a Bitcoin transaction all parties in the agreement must wait for outside confirmation through the blockchain for the validity of the transaction to be accepted. This vital step in the exchange of monetary value can take between 10 and 30 minutes to complete.
HashCoin solves this inherent flaw by introducing Transactional Immutability into the backbone of the currency. HashCoin’s Transactional Immutability places a transactional lock upon a transaction, which is immediately receipt-affirmed and then passed into the PrimeController swarm network for block confirmation. Nope. The Controllers on the HashCoin network are the backbone of the system which enables Transactional Immutability to occur and be confirmed within a near-instantaneous response timeframe. Controllers exist in the peer-to-peer network to assist in the speed of the transactional locking that occurs as part of the Transactional Immutability capabilities of HashCoin. These Controllers interact with HashCoin client nodes in a swarming peer-to-peer environment and receives instructions and verifications through the Prime Controller that presides and protects the integrity of the network and blockchain. Nope. Seen no immutability. First, the Prime Controller exists to perform archival functions on the HybridFlex Blockchain. Second, the Prime Controller exists to provide the swarming Controllers and the HashCoin client nodes with the reconciliation instructions for all verified and confirmed transactions. Nope. What on earth is a swarming controller? One of the problems of creating a near-instantaneous verification of transaction within a blockchain requires either the block generation time to be substantially lowered, which greatly enhances and bloats the size of the blockchain, or to provide a new solution to Bitcoin’s current confirmation delay. One solution is the new HybridFlex Blockchain woven into the network of HashCoin. Nope. P-o-T-V Silo #1 - ⅓ of ICO is established in a fund that supports the adoption and integration of the coin across the extended ecommerce ecosystem.
P-o-T-V Silo #2 - ⅓ of ICO is a supportive reserve block of fiat currency to guarantee the exchangeability and redemption of the HashCoin with merchant and exchange partners.
P-o-T-V Silo #3 - ⅓ of ICO is utilized to support the HashCoin community with research, development, and expansion of data centers and custom asic miners to provide coin holders with a simplified route to purchase additional hashing and mining capability at or near cost.
Wonder where the silos went. |
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if you need to learn one thing- learn this: you YOU control the price of paycoin not josh.
set your sell orders at 20 and let the bashers buy them from you at that price.
This is true. If they mostly control the supply of XPY, they can dictate the floor aka price controls. You've forgotten the other thing that comes from owning 95% of all coins. It's a proof of stake system, GAW owns all the "primenodes" (they claim to have sold them, but it doesn't matter even if they did), which means they control 100% of the coin's consensus system. They can stop transactions, reverse transactions, censor transactions totally at will. There's less going on than meets the eye, especially as all the "darkcoin masternode" stuff never appeared. All prime nodes are is just hardcoded addresses that make a stupidly large amount of stake (350%!) for no reason. They obviously weren't sold as that, but the actual implementation of PayCoin is PrimeCoin with a 97% premine, and hardcoded to give GAW lots more income than they would have had with 97% anyway. Still no hybrid flexing, no prime nodes preventing double spends, no thermodynamic.. whatever because it's a PoS coin. All of that was just bullshit. |
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Maybe the hyperflex is so advanced that even the computers don't understand it
Well, there's no hybrid flex at all. No block chain compression. "Prime nodes" are just the 95% premine divided up and hardcoded into the client. Rather than Proof Of Stake, it's just centralized control by GAW. They can double spend, reverse transactions, censor anything they want to. It's being poised as peercoin + darkcoin, but at least darkcoins shitty system isn't totally owned by one company. I don't really believe that the investors exist in the first place, it's too convenient that they've invested $100,000,000 USD in GAW and nobody even knows a single one of their names. |
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If anybody has missed the fun, PayCoin has now moved to 100% PoS mode.. and has "stalled" again. Last block was 1.5 hours ago, the children are getting uppity, and the github repo has been taken down again. Even big talkers in the community are starting to get fed up with the situation.  Time for hard fork number three right?  https://hashtalk.org/topic/24985/pow-to-pos-change-over-should-be-in-progress/ |
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Prime controller wallet maybe? A little too much for that. Prime controller wallet should only need 125000 for the first round.
What prime controller wallet? Aren't we of the understanding that there is practically no difference in the Paycoin code comparative to the PeerUnity code? "Prime Controllers" simply do not exist, in code, as far as I can tell. Not in THIS code but what I suspect is that this is just the POW phase code and they don't want to release the full code until POW is over. Oh duhh There's bits of the OP_PRIMENODE stuff in there, but they're going to have to do another hard fork to actually make it useful. There's no sign of the "hybrid flex" in there at all. not even a vague description beyond "compression", so I doubt it exists to begin with. Given they totally fucked up the single change they made to primecoin (the difficulty adjustment), I doubt they've made any changes to the source to speak of. It's obvious they only started "working" on this a week ago, or it would have been cloned from an older version of peercoin unity. |
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Little pause at block 1399.. Might be GAW implementing the hyperflex blockchain  Yeah, let me explain this one. When you're trying to measure the hashrate of the network there's massive variance between block times, which makes it extremely hard to know how to set the difficulty. With Bitcoin it's averaged over two weeks worth of hashing time, in an attempt to smooth things out somewhat. Even then the difficulty can swing +-10% just from luck alone. GAWminers in their infinite wisdom made a system which uses the average of.. two blocks. What this means is that if a block is very lucky, the difficulty of the next one (and the "network hashrate") appears to be stupidly high compared with what it really is. That's why there's huge gaps, and why you'll see people on HashTalk saying that the network is up to 50Ph/s. It's not, there was just a lucky block and they're cherry picking the ones which make them look the best. 191,012,766
350,839,774
7,343,160,41
726,246,634
30,557,651
76,394,136
122,776,299
36,110,678
95,587,110 Here's a sample of the difficulties in sequential blocks. I'll let you guess which one caused the 30 minute block period. |
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next zenminers.com will go offline and josh twitter page goes missing
Was just thinking that. Remember to archive everything you think is interesting. There's already a huge GAW collection of deleted goodies. https://archive.today/ |
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I was literally just told: "Josh, you made the coin too popular" |
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Source is pulled from github. https://github.com/GAWMiners/paycoin<matt007> josh: We have multiple coin development teams working on this and they are all saying the same thing "We have never seen anything like this before" And thats the problem, there was no way to ever test that much power coming on that quickly. This casaused the coin to stall. More info coming. |
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My guess is that they have no idea WTF they're doing. Likely no idea why it has "stalled" nor how to fix it.
Might have already worked this one out for myself. Over 10% of all the bitcoin network moved to paycoin in the same twenty minute period. Update coming Bullshit, more like 2PH.. so less than 0.7%. |
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I'm still trying to wrap my head around this. How did they expect to pass this clone as their impossible-to-understand coin?
He made a post saying it's incomplete, and all the magic stuff will come in a (presumably hardfork) later. It's mostly all deleted now, but it's all on http://archive.today/ if you need it. |
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Anyone wanna guess who or what will be blamed for this POW clusterfuck?
Maybe evil renters with their petahashes broke the coin?
Rackspace?
DHL?
Ya think they would have set up a little more fancier pool than basic nomp. A friend runs a nomp pool and in the beginning we had server crashes then realized he had to turn off a long accumulating scrypt, that was sucking up memory etc. I wish I could think of what is was exactly, but I am sure with as much hash rate as gaw had on nomp it wouldn't take long to foil things up for them. But I am sure will get a great excuse soon Remember they run petahashes of power on their own pool. They obviously know what they are doing.
I'm hearing that multicoinpool.org is still mining. I wonder how that is going to turn out. Will there be a fork when the new nodes come up and the official pool comes back.
Still mining, but not actually making valid blocks. |
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<aGGyunit> hope they find someone to compile the mac wallet this time
<aGGyunit> It's not rocket science
<DiCEr1904> yea but, its gaw
== DiCEr1904 was kicked from #GAWMiners by GAW_GM [DiCEr1904]
<@GAW_GM> FUD FUD is anything you dont want to hear |
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If there was any doubt about their ability to manage a massive payment network... there you go.
The funny bit is that they forked without actually making any reasonable changes to the source at all. Few variable tweaks, added some place holders for an opcode and a special staking rate for "prime controllers". Imagine how bad it would have been if they'd tried to make Hybrid Flex as well, nightmare! |
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No sandbox VM for home?
I'm too lazy for that. Their IRC is funnier anyway. <@IngCr3at1on> the issue is being investigated currently
<@Mr_Sheesh> It needs coffee is all They've taken their pool down too, admitting defeat by their own code. |
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I wonder if someone pointed massive power at it, cranked up the diff then bailed back to BTC.
I'd find out but it's probably packed with malware. Too much effort for too little fun. |
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Looks like they've managed to completely break their coin. Most people are stuck at height 277 for no particular reason. Petahashes of power being pumped into oblivion. Kinda feel bad for everyone who's paying 150% on rig rentals for nothing 300% actually. Amusingly they're buying nothing, because the hashpower they have purchased is going utterly nowhere. |
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Ok, found an actual change. // cool feature
case OP_PRIMENODE : return "OP_PRIMENODE"; // cool feature
OP_PRIMENODE = 0xc1, It's function isn't defined though. So it just makes any transaction you use it in invalid. A clearly stunning feature. |
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So let me see if I understand this correctly. The "very, very reputable company" that GAW hired to develop this super advanced coin took a Peercoin fork, did a search/replace, didn't even proofread it let alone any kind of serious review (how do they know there is no backdoor or something?), and this is the payment network to rival PayPal. I think GAW should sue that "company", because they seem to have been scammed It's hard to diff because it's blown out by all of the s/peercoin/paycoin/ spam.  There's things added like a bool for isPrimeNode, but it doesn't actually seem to do anything meaningful. Looks for all the world like they started adding a feature and then got bored. // paycoin: miner's coin stake is rewarded based on coin age spent (coin-days)
int64 GetProofOfStakeReward(int64 nCoinAge, bool isPrimeNode)
{
static int64 nRewardCoinYear = 5 * CENT; // creation amount per coin-year
int64 nSubsidy = nCoinAge * 33 / (365 * 33 + 8) * nRewardCoinYear;
if (fDebug && GetBoolArg("-printcreation"))
printf("GetProofOfStakeReward(): create=%s nCoinAge=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nCoinAge);
return nSubsidy;
} Rest I can find are just noise like changing how much the proof of stake payout is, the distance between block timings and things like that. I'll keep digging though. |
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