Why on God's green earth was a custom difficulty adjustment algorithm ever even used when there are so many tried and true ones to choose from? The algorithms are all open source. Why roll our own with absolutely no testing and worse, no quick recourse when things went bad?

Either I am completely misguided in this subject or someone made a big mistake.

How? It says the wallet is in maintenance mode and withdraws cannot be processed. It has been saying that for months now. Not sure anyone has been able to get UTC directly in/out of Cryptsy.

Which is exactly what I said in the first place........ Try not to be such a keyboard thug. My whole point is that guys like e5e are exploiting the network and getting a BIG reward for it. Then there are a couple small miners that support the coin and the network (minting blocks during very lopsided difficulty periods). Those miners are getting little to no reward for supporting the coin and the network. Those small miners that are "wasting electricity" (as you put it) are what is enabling the difficulty to eventually retarget. And once it does retarget e5e comes in and steals all their coins. Either fix the pools so they pay over a 24 hour hashing average, or fix the coin. But doing nothing and continuing to allow people to exploit the coin is just really dumb.

This e5e guy is going to have a ton of coins and if/when the coin ever gets fixed and the value does rise, he WILL dump all his coins and crash the market. No matter what, he is (and people like him are) bad for the coin and something needs to be done.

At the very least force him to solo mine, it may make it more of a challenge for him to exploit the coin that way.

uh... if the other miners stop mining then blocks are not minted and difficulty does not adjust. I understand it just fine. The only thing pushing the difficulty forward (up or down) is the miners that mine during the times when the difficulty is completely out of whack. Staking does not adjust the mining difficulty so it will ONLY adjust when people are mining. Clearly YOU have no idea how difficulty adjustments work.

Seriously why are you even carrying this conversation forward, it's like you are rooting for the guys that are destroying the coin and the network stability. Get lost.

The difficulty doesn't adjust if the TWO miners that actually support the network stop mining. So e5e is a complete a**hole and is taking advantage of the TWO miners that actually are keeping this coin alive. Guess what, if everyone was like e5e the coin would die and then it's value would be next to nothing. So no, it's not a waste of electricity to support a coin that you mine.

e5e is defecating where he eats by mining this coin for 30 minutes a day for a reward of like 10,000 per day while the other miners get very little for what they do in exchange for allowing him to be able to exploit it. I guess those 2 miners should stop wasting electricity and let the coin die.

What is even more annoying is a few miners do not support the network at all, they wait until the difficulty drops to an insanely low rate then point a bunch of hashing power at one of the pools. They then mine a bunch of coins really quickly while the miners that actually support the network get almost no coins for their efforts during this time due to the very quick turn around the larger miners are able to produce blocks, leaving smaller miners with no shares. This then drives the difficulty way up and they leave the smaller miners to support the network and mine for another 20-22 hours for almost no reward.

The miner e5e on yacoin club is one of the worst offenders. All he is doing is taking a bunch of coins and offering no network support at all.

The oscillation of the difficulty needs to be fixed, this is a joke.

Anyone else have trouble with the OS X wallet version? I deleted my Application Support\Ultracoin folder and removed the preferences file for UltraCoin-QT and all it will do is crash immediately on opening the app.

Between Cryptsy and the new wallet I now have access to exactly 0 of my coins. Been supporting, mining and trading this coin since hour 0 and honestly, things have never been worse than they are right now. I stepped away from the forums for a while because I didn't feel like I was making a positive contribution to the coin, but man. WTF.

Also, why is mining in such a chaotic state? Absolutely nothing in regards to mining seems to be working well right now. I stepped away from mining for a month or so and now it seems pointless to even have a single rig mining UTC. I think my PoS would generate more coins that actual mining....

Please someone make some sense of all of this.

It doesn't work like that, at least not on anything but the smallest of volumes. They would be lucky to break even after fees and the natural rise in price as they bought back. The market is adjusting and some of this fluctuation is due to people taking profit and others seeing a buying opportunity. Every time the price drops people think it's some kind or manipulation or fraud. It's just the natural state of the market.

Sort of. When BTC goes down, alts go down. When BTC goes up, alts go down.

Does anyone know if there is a way to turn off the block finder sound on http://www.ultracoins.info/ ? Every time I have to use my sound for anything I have to close the page because that sound is frequent and very annoying.

No one was selling a block of 600k so it was executed in small chunks. There is no voodoo here, price will be at what people are willing to buy/sell UTC for, not a decimal point higher or lower.

I do not think you understand how a 51% attack works. However, you are correct that 99% of the hashing coming from one pool is a problem. But what motivation do miners have to switch pools when they lose 80% of their revenue by doing so?

Someone else suggested a system that increases fee structure when the hashing rate goes over 50%, that is a great idea. The only thing that will get miners to switch is when a more profitable option opens up, that's just the nature of mining. It's extremely competitive and no one is going to mine at a giant loss because "it's the right thing to do". They are going to mine wherever the profits are highest.

If you want them to switch take away their revenue and they will switch. Calling out a general group of people who probably don't even read this forum isn't going to get you very far. Even if they do read this forum, they don't care about the 51% attack, they care about immediate mining profits.

Wow. I just clicked back in the breadcrumbs to the "Announcements (Altcoins)" forum ... wow, what a scary place that is. I feel like i need a shower.

Can you be a little more vague and less verbose? The overwhelming amount of information you have provided is difficult to sift through to properly troubleshoot your problem.

Or better yet take the donations in UTC, and use https://www.coinpayments.net/ to buy giftcards to fund the trip. Anything other than taking BTC directly that just seems like crypto-adultery to me lol.

Not using UTC as the medium for this donation basically sends the message "Invest in UTC, it's great for you... not for us though, we need to use something more practical to get stuff done"

I don't see how that would be a problem, several hundred-thousand would also be bought around the same time and it can be sold as it comes in and then sent to a BTC wallet. It doesn't have to be sold as one large chunk. It can also be distributed over several exchanges. I don' think it will be as much of an issue as you do.

Can we do the donations in UTC instead of BTC? Even if you sell the UTC for BTC for USD/Euro at least it will get some activity on the markets which could spur more activity.

People who want to pledge BTC could buy up some UTC and then donate that to a UTC address which would eventually be sold and converted to BTC for the show.

Just a suggestion.

Everything equal (which it never stays that way, ask again tomorrow, lol) about 1200/day.

Ooops. Just re-read your post. I thought you said "... or just mine ultracoin directly ..." not buy