ETN network need GPU miners help

[fluxy12]

Hello, i've seen this post from ETN devs on FB.

It seems they have wait a lot before to fork and now the difficulty is too high for GPU miners.

I think that we GPU miners have to help them, because they did the fork to kill that f..king ASICS, in return we can give a little bit of our hashrate for a few hours to pass trough this high difficulty blocks and stabilize their network.

Electroneum
14 h ·
Mining Pool Owners & GPU Miners - We need YOUR help!

Earn extra ETN reward over the next 26 blocks!

The Electroneum blockchain forked at block 307500 today. As you are aware, the time it takes to mine blocks should be approximately every 2 minutes. Due to the extremely high difficulty caused by previously having ASICs on the network, blocks are taking substantially longer than usual (hours rather than minutes) while the network adjusts.

Firstly, we want to thank the community, our miners and the mining pools in continuing to support the network while we get through these difficult blocks.

However, we are not happy with the low returns our miners are receiving right now, so as a gesture to thank everyone who continues to support us, we will be supplementing the next 26 block rewards by with an ETN bonus (see below). This offer will run for blocks 307501 - 307527.

Mined under an hour 200,000 ETN bonus
1 - 2 hours 150,000 ETN bonus
2 - 3 hours 100,000 ETN bonus
3 - 4 hours 50,000 ETN bonus

So how will this work? After each block is mined, the pool which successfully receives the block reward should contact the team by opening a support ticket (support.electroneum.com) with subject "BLOCK REWARD". They MUST include the public key (ETN wallet address) and view key of the address which successfully mined the block so that we can verify they are indeed the owners. We will check the block time of each mined block and send out the appropriate amount to the public key provided.

Can you please contact your users to let them know it's well worth their while getting back online, and let your users know how to change the algorithm on their software to mine with MoneroV7 or Cryptonight_V7

Again, we wish to thank everyone for continuing to support the ETN network

Have a great day!
Richard.
PS We've had over 40MH/s running on Nanopool for the last couple of hours so we must be extremely close to mining block 307501.

PPS - Please be patient with ETN transactions at this time - once we get past these difficult blocks our blockchain will be considerably more efficient.

[rdluffy]

I pointed some hashrate to help you guys kick Asics out

Asics are cancer

[nc50lc]

For others who didn't understand the quote:
They needed help because of the difficulty wasn't adjusted right after changing the algorithm.
And now since those ASICs aren't capable of solving the new algo as quickly as before, the current hashrate cannot keep up with the difficulty which makes the

blocks are taking substantially longer than usual (hours rather than minutes) while the network adjusts.

What bugs me is: where the hell did those extra 200,000ETN per block (if mined under an hour) came from? From the dev team's wallets?
So: 26 blocks x 200,000ETN = 5,200,000ETN at most.
Aside from the "Mining Reward" from their Mobile miner, just how many ETN does Electroneum development team have?

[Permonik]

Last tweet from devs:
electroneum
@electroneum
Blocks have been being mined but have failed due to a handful of pre-fork TXs which we are working with the pools to remove from mempool. We are working on a patch and with pool owners to get things running as fast as possible. Thanks for your patience.

[dragonmike]

They dramatically underestimated the difficulty impact of losing ASICs from one block to the next. Add some buggy code to that and you end up with a non functional chain that's mined TWO blocks in 36 hours instead of four minutes. Very amateurish if you ask me. Another moment of glory for the ETN devs.

IMO they should take money out of their pockets and rent CNv7 hash themselves for a couple of days to help stabilise the mess.

[Permonik]

They dramatically underestimated the difficulty impact of losing ASICs from one block to the next. Add some buggy code to that and you end up with a non functional chain that's mined TWO blocks in 36 hours instead of four minutes. Very amateurish if you ask me. Another moment of glory for the ETN devs.

IMO they should take money out of their pockets and rent CNv7 hash themselves for a couple of days to help stabilise the mess.

They rented 40Mhs already from nicehash...

[Za1n]

This is actually a good learning opportunity long-term as incidents like this should encourage the DEVs to be more proactive ahead of time rather than waiting until the problems gets so big they cripple themselves when trying to migrate away from ASICs.

Hopefully they and other coin developers learn to become a lot more aggressive against ASICs taking over their block-chains. I guess it is either that or simply give in and embrace ASICs as some other coins have opted to do.

[DevelopmentBank]

That call for help is so pathetic and unprofessional.

I absolutely disdain ETN and how they managed the launching of their coin. I don't understand what they got for screwing over ICO investors and launching the blockchain without giving access to investors. It all seems to be a greedy attempt at preserving value when again they re-launched and failed once again. Hopefully some investors made back there money by shorting ETN to the ground.

[rednoW]

They dramatically underestimated the difficulty impact of losing ASICs from one block to the next. Add some buggy code to that and you end up with a non functional chain that's mined TWO blocks in 36 hours instead of four minutes. Very amateurish if you ask me. Another moment of glory for the ETN devs.

IMO they should take money out of their pockets and rent CNv7 hash themselves for a couple of days to help stabilise the mess.

They rented 40Mhs already from nicehash...

total CNv7 hashrate is 50mhs. Don't think it is almost bought by ETN team. Also I don't see CNv7 rent price spike that should be if it was true.

[badfad]

They dramatically underestimated the difficulty impact of losing ASICs from one block to the next. Add some buggy code to that and you end up with a non functional chain that's mined TWO blocks in 36 hours instead of four minutes. Very amateurish if you ask me. Another moment of glory for the ETN devs.

IMO they should take money out of their pockets and rent CNv7 hash themselves for a couple of days to help stabilise the mess.

They rented 40Mhs already from nicehash...

total CNv7 hashrate is 50mhs. Don't think it is almost bought buy ETN team. Also I don't see CNv7 rent price spike that should be if it was true.

I was doing the same thing, prices seem normal to me on nh.

[Permonik]

That call for help is so pathetic and unprofessional.

I absolutely disdain ETN and how they managed the launching of their coin. I don't understand what they got for screwing over ICO investors and launching the blockchain without giving access to investors. It all seems to be a greedy attempt at preserving value when again they re-launched and failed once again. Hopefully some investors made back there money by shorting ETN to the ground.

I do not understand you. Why people like you posting this shit again, again, again and again.
Please grow up...

[Didi CC]

Because it' s the same shit again over and over again.
The Crypto sphere is about trust, if you fail to deliver time after time, this is what happens.

[dhouse]

etn is the worst, it's one disaster after another and the coin has no use case besides being another cryptonight coin. it's still in the top 100 though lol