Worldcoin Patch v6.4.1 Release Announcement!

[nerdcustoms]

People have been screwed as many of them have invested in WDC after you advertised the patch with seriously less coin generation. I completely agree it was a risky approach and this patch is generally much better one but what I don't agree with is that you keep missing to do what you promised before and make people that invested based on your promises to look like idiots after you fail to deliver.

So, stop fucking games with investors  and stop announcing pre-releases you'll fail to deliver, and stop fucking playing with WDC public image as some of us have spent a lot of money investing in it. If you don't know what you are doing, then do consultations before you announce stuff with fancy PDFs just to do it on completely different way.

Please note that community leaders changed since that first announcement. There were formal announcements on the Worldcoin forum about community leadership changes.  This might be why you are upset, and I do apologize if that is the case. I personally think you would be more upset if the original patch had gone through. Worldcoin would probably have lost all miners inside 6 months, thus opening us up to easy 51% attacks.  There are quite a few of us investing in Worldcoin as well!  Myself included.  I'm sure a super fast inflation change would have been awesome if prices doubled every single month to keep up with it, but that's just not realistic, and that is DEFINITELY not a good enough reason to patch a coin.  Patches should not be made with greedy intentions.  I hope you find that the current patch was made with the best of intentions for the coin and the community as a whole.  We will try to be more transparent in the future.

The current prices you see dropping are not just in Worldcoin, look at most of the alt coins.  They are dropping because they are tied to BTC and BTC moving averages show us we're in a down trend.  Down trends = sell off.  People get out of altcoins, back into BTC, and sell off into fiat.  This happens nearly every time BTC drops in value. Current price drop has nothing to do with the patch and your anger should be directed elsewhere.  

Best Regards,

NerdCustoms

[seleme]

As I said, I don't mind change in patch design, it's fairly better than original one, what I care about are nontransparent changes and non-delivered promises.

I don't care about price drop apart from not being able to pick more coins as I went all in after another failed promise - unocs one.

But what I care about and hope to stop seeing is this level of unprofessional treatment of investors. Things must be much more professional in the future, moves and changes well thought to stop nontransparent changes and inside trading and any pre-announcement completely cut off if there is 0.0001% chance of non delivering.

[statusd111]

Wut is there promises? not seen anything ^^ i promise that if u start mining WDC u never want stop mining it 
i trust WDC Its coin from future! 

[nerdcustoms]

Wut is there promises? not seen anything ^^ i promise that if u start mining WDC u never want stop mining it 
i trust WDC Its coin from future! 

lol well said StatusD

[seleme]

I might be the biggest WDC holder out there or at least one of the bigger few so please don't talk to me about trusting it ...

I'm definitely not the biggest fan of the way WDC stuff is handling out things though.

[digger]

http://wdc.ltcoin.net has upgraded.
welcome to mine here

[usahero]

Yeah, after thinking about your clarification, I concluded that this patch has fcked up some people.


I know 3 individuals all investing into coin hoping that the patch will deliver halving of the reward, each holding 500k+ of coins. I'm pretty sure your patch made the coin go wrong way. Instead of expected uptrend the buy orders were removed and coin value dropped from 0.00008 to around 0.00007.

[nerdcustoms]

Yeah, after thinking about your clarification, I concluded that this patch has fcked up some people.


I know 3 individuals all investing into coin hoping that the patch will deliver halving of the reward, each holding 500k+ of coins. I'm pretty sure your patch made the coin go wrong way. Instead of expected uptrend the buy orders were removed and coin value dropped from 0.00008 to around 0.00007.

I had certain hopes for WDC being the  "honest" from the unocs, but I see that I was unrealistically optimistic.

The prior inflation scenario, would have essentially turned this coin into a premine scam for everyone who currently held coins. Instead of a couple of you complaining right now, we might have 50 people yelling premine scam.  Which is worse?

[usahero]

Yeah, after thinking about your clarification, I concluded that this patch has fcked up some people.


I know 3 individuals all investing into coin hoping that the patch will deliver halving of the reward, each holding 500k+ of coins. I'm pretty sure your patch made the coin go wrong way. Instead of expected uptrend the buy orders were removed and coin value dropped from 0.00008 to around 0.00007.

I had certain hopes for WDC being the  "honest" from the unocs, but I see that I was unrealistically optimistic.

The prior inflation scenario, would have essentially turned this coin into a premine scam for everyone who currently held coins. Instead of a couple of you complaining right now, we might have 50 people yelling premine scam.  Which is worse?

I don't know.

I don't hold that many wdc to make it worth arguing/possibly making enemies. So I can just wish you best luck. The 500k+ holders will have to express themselves for themselves, if they want to.



ps: I also edited the part of my last message. I was too agressive with the suggestion.

[mr_random]

Too bad none of you complainers backed me up the other month when I complained loudly and articulately why it was a bad move for Worldcoin to join UNOCS without any form of prior public debate or transparency.

Same shit has happened again with this patch and now some of you are finally starting to cotton on why it's bad that a couple of people get to pull all the strings behind the scenes and make the decisions, with no public debate or transparency beforehand.

Good job I sold my coins back then, I advise you all to do the same.

[nerdcustoms]

Yeah, after thinking about your clarification, I concluded that this patch has fcked up some people.


I know 3 individuals all investing into coin hoping that the patch will deliver halving of the reward, each holding 500k+ of coins. I'm pretty sure your patch made the coin go wrong way. Instead of expected uptrend the buy orders were removed and coin value dropped from 0.00008 to around 0.00007.

I had certain hopes for WDC being the  "honest" from the unocs, but I see that I was unrealistically optimistic.

The prior inflation scenario, would have essentially turned this coin into a premine scam for everyone who currently held coins. Instead of a couple of you complaining right now, we might have 50 people yelling premine scam.  Which is worse?

I don't know.

I don't hold that many wdc to make it worth arguing/possibly making enemies. So I can just wish you best luck. The 500k+ holders will have to express themselves for themselves, if they want to.



ps: I also edited the part of my last message. I was too agressive with the suggestion.

You're fine, you've been polite and level-headed with your responses. Nothing wrong with constructive criticism and intelligent debates.


Thanks,


NerdCustoms

[lemons]

Worldcoin has been released to the world for about 3 months. We designed WorldCoin to be fast enough for day to day transactions but still very secure. Full confirmations occur in about 60 seconds or less. However, it has come to our attention that there is an issue with orphans, and we would like to address this.

Today the v6.4.1 patch has been released to address this issue. Block times, reward, and confirmations have been modified. NOTE: the amount of WDC created per day has stayed exactly the same.

1. Block time changed from 15 to 30 seconds.
2. Block reward changed from 32 to 64 coins (to maintain the same number of coins/hour).
3. Confirmation amount changed from 4 to 2 (to maintain current 1 minute confirmations).

There are a few other changes as well:

1. The current coin reward will not halve at a certain block any longer. Instead, the reward will gradually decrease 1% every week.
2. If the reward reaches 1 WDC, it will not decrease any longer, but will stay at 1 WDC/block for the life of the coin.
3. The difficulty will update a maximum of 10% either direction every 120 blocks or ~1 hr (vs the current 400% per ~8 hours).


Specifications

Block Time: 30 Sec.
Confirmations: 2
Difficulty Retarget: About 1 hour (120 blocks)
Block Reward: 64 coins, reduced 1% every week (20,160 blocks)
Coins: 265,420,800

A year after the patch, we estimate the reward to be be around 38 WDC/block, or about a 41% decrease during that time period.  After 8 years, it is estimated that the reward will be at 1 WDC/block.

This patch will take effect around August 30th, or at block 600,000. All users should update their wallets and daemons to the new version by block 600,000-older versions won't work after this point.

Files

Download the WorldCoin client (6.4.1) and start using it today.
If you have an older version you need to update it as soon as possible.

Windows Client:
http://worldcoin.unocs.com/sites/default/files/Worldcoin-windows-6.4.1.zip

Get the official client from an alternate source:
coming soon...

Linux Ubuntu (Mint) Client:
http://worldcoin.unocs.com/sites/default/files/Worldcoin-linux-6.4.1.tar.gz

Or, compile it yourself: "How to compile Linux client" instructions: https://bitcointalk.org/index.php?topic=212621.msg2229730#msg2229730

Mac OSX Client:
http://worldcoin.unocs.com/sites/default/files/Worldcoin-OSX-6.4.1.zip

Source Code:
https://github.com/worldcoinproject/Worldcoin

Confirmation amount changed from 4 to 2   ....why change to 2 ,i dont think so its  Transaction Security

[lazlopanaflex]

Cannot download the lastest patch, get "could not connect to worldcoin.unocs.com"

Please advise, tks.

[bitcoin-world.de]

I cant download it too. Please reupp and make it in your website. Please write the correct md5hash from the original binary exe for windows.

[tucksmcgucks]

Cannot download the lastest patch, get "could not connect to worldcoin.unocs.com"

Please advise, tks.

I cant download it too. Please reupp and make it in your website. Please write the correct md5hash from the original binary exe for windows.

I am having the same issue. Devs - please fix!

Also, can someone tell me why wdc.epools.org is producing SO MANY orphans currently? Is this a network-wide issue or just this one pool?

[lucazane]

Cannot download the lastest patch, get "could not connect to worldcoin.unocs.com"

Please advise, tks.

I cant download it too. Please reupp and make it in your website. Please write the correct md5hash from the original binary exe for windows.

I am having the same issue. Devs - please fix!

Also, can someone tell me why wdc.epools.org is producing SO MANY orphans currently? Is this a network-wide issue or just this one pool?

because difficulties has dropped and so profitability is very high => miner rush,multipool switch ... => block time even lower (7 second) => orphan

[tucksmcgucks]

Cannot download the lastest patch, get "could not connect to worldcoin.unocs.com"

Please advise, tks.

I cant download it too. Please reupp and make it in your website. Please write the correct md5hash from the original binary exe for windows.

I am having the same issue. Devs - please fix!

Also, can someone tell me why wdc.epools.org is producing SO MANY orphans currently? Is this a network-wide issue or just this one pool?

because difficulties has dropped and so profitability is very high => miner rush,multipool switch ... => block time even lower (7 second) => orphan

Thank you, lucazane ! I am still learning all the nuances of this stuff, and I appreciate your help 

We the people still need a working link to the new client, devs!