Gratz  |
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Oh I forgot was it coinotron that implemented the auto mine most profitable altcoin or something? Is that the reason terracoin now behaves like this?
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Why is terracoin difficulty jumping around 3x back and forth? Anyone else see a pattern here? Looks like some big miners are exploiting the fast difficulty adjustment. I guess so much for the supposed feature 'miner jump resonance free' Someone please make a chart to trace back when this all started height difficulty
96000 5001
96030 8254
96060 2671
96090 10580
96120 3830
96150 9622
96180 3270
96210 8391
96240 3029
96270 9203
96300 2330
96330 8029
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Weekly Update #31 - ppcoin network has successfully switched to v0.3 protocol on March 20th.
- After another thrust of the values of bitcoin following the resolution of the large block fork incident, the altcoin market cooled down somewhat vs bitcoin. The week saw ppcoin market cap pulling ahead of several competing altcoins and consistently ranking behind namecoin.
- The next release 0.4.0 will be a refresh to bitcoin's latest 0.8.1 release. Due to the mandatory nature of bitcoin's 0.8.1 release, ppcoin 0.4.0 is likely a mandatory upgrade as well. This release is tentatively scheduled for late April/early May timeframe.
Have fun! |
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Coinbase shouldn't reach 0 until 4*32=128 years later.
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What would people think about a new coin where the creator receives a small percentage of all mined coins for his efforts? e.g 5%.
It's called SolidCoin and/or Microcash. Current number of people using it: probably about 3. Clearly devcoin and some others pays a lot more than 5% to the devs, yet it proclaims itself as 'ethical' and I don't see many people badmouthing them for it. Although I am not for this approach but if they can sustain themselves this way all power to them. I think the singled-out bashing on solidcoin is a little bit unwarranted unless people don't play the double-standard. |
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Making money doing the work would be nice, but without making the money I would still be proud that I did the work, for free. That's something that certain people don't believe in, that's fine. But I am me.
That's why ppcoin was released without premine nor tax. Right the developers don't have any advantage over the early miners and investors, that's okay with me. If my work ends up freeing people from oppression in some way, whether I made money from the work is totally secondary.
I still remember liquid's motto "Because he who dies with the most stuff, wins"
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Is there something wrong with the PPC network today? Only 3 Proof of Work blocks are found today and the estimated hashrate is all the way down to a low of 10 G Hash/Second! Is there something that I am unaware of post-update 2 days ago?  Network looks alright to me so far. Hash rate fluctuates wildly that's normal. A lot of miners have switched back to BTC due to lower profitability of altcoins. |
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21000000 * COIN is the theoretical upperbound of bitcoin's entire money supply. Of course no one account or transaction can have more than that number, so it is used to check that a given money value is within the valid range. To understand how this limit came about, you need to understand the function GetBlockValue() that give rise to the upperbound of 21M * COIN: MAX_MONEY = 2 * 210000 * 50 * COINint64 static GetBlockValue(int nHeight, int64 nFees)
{
int64 nSubsidy = 50 * COIN;
// Subsidy is cut in half every 210000 blocks, which will occur approximately every 4 years
nSubsidy >>= (nHeight / 210000);
return nSubsidy + nFees;
}
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LOL at this rate looks like it's going right back where it came from in two days
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Satoshi was solidly against the development of alt-clients, even just to spend coins let alone mining. That said those were very early days and he probably wanted the flexibility to change things as Bitcoin's core evolved, and it did. There is some really kooky code from those days in the repository though; did you know Satoshi wrote the beginnings of an EBay like auction market and put it in the client itself?
Very interesting. What happened to these code for the beginnings of bitbay? |
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cool just got my address.. how easy to mine?
PFVk4MVKhjms613mCFVrB8kst3uvgFvsc2
Solo mining -> same as bitcoin except use rpc port 9902 Pool mining: ppcpool.bitparking.com coinotron.com |
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Problem with ixcoin is the subsidy is supposed to stop in less than 2 years. Then it's dead in the water unless there is enough transaction activity to continue mining support, which looks rather unlikely at the current rate, as I think merge miners would drop it without enough income. Of course at that point it would be easy for someone to take it over and turn the subsidy back on. But then it's not a serious cryptocurrency as its money supply can be changed by a whim. Maybe Nasakioto just wanted to demonstrate what could happen to bitcoin in the remote future if transaction fees couldn't support enough mining interest  Edit: It does have 21M limit and 0 subsidy afterwards (looked at wrong branch earlier): int64 static GetBlockValue(int nHeight, int64 nFees)
{
int64 nSubsidy = 96 * COIN; //ixcoin
// Subsidy is cut in half every 4 years
nSubsidy >>= (nHeight / 210000);
//Hard limit to 21M Ixcoins
if (nHeight >= 227499)
nSubsidy = 0;
return nSubsidy + nFees;
}
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This is me. It's a wallet I created by sending approximately 250-500 PPC every 5-10 minutes over the period of a month. The actual amount and time depended on how much PPC I had available. I kept this running on a 24x7 node and it averaged about 150 blocks immature constantly after about 40 days. The machine it was on had a hard drive failure and it's been offline for a week or so. Having recovered the wallet from backup I've fired it up again and I guess it's catching up. For the curious the ppcoind node this runs on uses about 80% CPU idling - I assume that POS stack code takes a bit of CPU while cycling through so many transactions.
Hi Chris, when you generate these blocks which version of the client were you running? Is it the latest v0.3 client? The protocol has been switched over to 0.3 today. The situation should improve gradually. Like Jutarul said, stake participation rate might have also contributed to the problem. The average age of stake is meant to be eventually closer to 90 days than 30 days. In 0.3 protocol a change was made so that the weighting starts from 0 at the 30-day minimum age. This should help strengthen proof-of-stake protection when difficulty is still low. |
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Exact switch time is
Wed 20 Mar 2013 17:20:00 UTC
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Final reminder: less than 1 day before protocol switch. Upgrade as soon as possible to v0.3.0 if you haven't done so. I will be watching the switch on the network tomorrow.
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But would you still consider this hostile towards the 1.0? Someone trying to take over the user base even though it is not by a messy hard-fork?
Certainly not as bad as a hard fork. Although I think for all your good intentions, you probably didn't realize it's a lot of trouble to do what you suggested. Not gonna worth it. |
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Would not that benefit exactly the early 1.0 adopters, if you set the height low? Or the hardcore hoarders that did not ever sell a single coin?
Correct. I did not say I favor such a plan but this is what OP wanted to achieve. The height is typically set close to the release time of the new altcoin. |
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It's on my todo list for a while. https://bitcointalk.org/index.php?topic=113615I would cross out the escrow part for a first release. You missed the important first step: Obtain the capital and take the risk to start such a project. Ripple has been in development for I guess at least a year? No it hasn't turned profitable yet. What is it that you disliked about ripple? |
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