How so? Has it been spent already?

There has to be a realization here this now is a pump and dump coin with a charity attached to it. If you want the coin to retain its original mission, you have to make its value go back up. In case the PLC BTC cannot be used, I would like to hear why and what is the alternative plan for this coin to regain value.

Dev Team,

I assume you are reading the thread, so please note the following:

Even after the 8500 fork, this coin will be massively unprofitable to mine at current prices. Let's say that the difficulty stays at 3 (we all know it will rise for sure), and the price is double what it is right now, 2*10 satoshies = 20 satoshies. My calculations show that 1Mh/s of mining power would earn a miner about 6700 WATER/day or about 0.00134 BTC. Compare this with 0.00398 for LTC (difficulty 6190 at the moment), 0.004292 for FTC (difficulty 225), 0.004844 for Vertcoin (difficulty 217, 50% of hash power accounted for), etc. The message here is that the excessive coin production hurt the value big time and that we need to do everything we can to make it recover.

I mentioned this earlier and will do so again: use the BTCs you have from the PLC to buy as much WATER as you can and cause a supply shortage. The price will rise eventually and as an added bonus you will have greater chance to reclaim control of CWC, which you have now lost.

If anyone finds an error or an issue with what I am stating/proposing, please chime in.

EDIT: I was charitable and assumed that one WATER block will yield 1000 coins, whereas we know it would be 8xx in reality.

pool  http://water.nmgpool.com/  300MH/s   
Has been updated, the normal exploitation! Welcome everyone to join


 

It's about me it's my money(even if it's a very small amount), it's not about you if it's not your money!
For me it was a investment, a deal was made, the coin had some specifications when i invested now i see millions of coins that where not expected(not in the specs), i tried to forget about the 13BTC invested after the launch but this now it's to much.

And if my my english in not very good, c'est la vie! Boas

edit: wrong quote

+1

Pool owners went above and beyond.

I've been thinking about this and Voxelot is absolutely right when he says that miners and pool operators have taken over control of this coin. If you are right (and I think you are) that a massive dump will start once this forking business gets straightened out, there is a chance for the dev team to take back control of the coin by buying it up on exchanges for mere satoshies. There should be enough dry powder from the PLC, and I think it is very reasonable to use a substantial part of it to buy up a sufficient amount of coins so they reestablish control. Once they do, the coin should be able to serve its initial mission and as the team would control most of WATER they should be able to guide the project in the originally envisioned direction.

It seems the fork did not work as expected. Miners only earn TX fees now. Check https://water.suprnova.cc/index.php?page=statistics&action=blocks or the explorer at http://cleanwatercoin.altstrade.cc/chain/CleanWaterCoin


Out of main.cpp, the following is the relevant code:


static const int64 nMinSubsidy = 1 * COIN;
static const int CUTOFF_HEIGHT = 1000000000;   // Temp max height. May need to be forked based on varied reward system
// miner's coin base reward based on nBits
int64 GetProofOfWorkReward(int nHeight, int64 nFees, uint256 prevHash)
{
    int64 nSubsidy = 150 * COIN;
    double coinDifficulty = (double)GetDifficulty();

    int64 rewardCalc = 1/(sqrt(coinDifficulty + 500));

 if (nHeight == 1)
    {
        nSubsidy = 10000000 * COIN; // first block is premine
    }
    else if (nHeight >1 && nHeight <= 55) // 55 blocks for confirmation of premine
        {
            nSubsidy = 1 * COIN;
        }
    else if (nHeight >55 && nHeight <= 7000)
        {
            nSubsidy = 1000 * COIN;
        }
    else if (nHeight >7000 && nHeight < 8000)
        {
            nSubsidy = (int64)((double)(20000 * sqrt(coinDifficulty + 500)) * COIN);
        }

 // fork here for proper block reward - 8000 per cleanwatercoin guys

    else if (nHeight >= 8000 && nHeight <= 250000)
     {
             nSubsidy = (int64)((double)(20000 * rewardCalc) * COIN);
     }

    else if (nHeight > 250000 && nHeight <= 500000)
        {
            nSubsidy = (int64)((double)(15000 * rewardCalc) * COIN);
        }
    else if (nHeight >500000)
        {
            nSubsidy = (int64)((double)(10000 * rewardCalc) * COIN);
        }
    else if (nHeight > CUTOFF_HEIGHT)
        {
            nSubsidy = 0;
        }


    return nSubsidy + nFees;
}

Note that rewardCalc is int64 type. Given that its calculation will always be less than 1/sqrt(500) < 0.05 it will be always rounded down to 0. So once it is used in a formula like nSubsidy = (int64)((double)(20000 * rewardCalc) * COIN) it will default to 0, and the nSubsidy would be 0 as well. You are practically now mining for TX fees from here till eternity. The fix? Change rewardCalc declaration to double (in the line bolded above).

Because it is obvious that THIS AGAIN HAS NOT BEEN TESTED, here is some help for that. Copy this code into a main(), envelope it with a for loop going from 1 to 500002 and then another loop from CUTOFF_HEIGHT - 2 to CUTOFF_HEIGHT + 2 and run it standalone while writing the block height and subsidy into a file. Shouldn't take you long to review the file and see if the code is working correctly.

Now where is that fork picture from earlier?