[POLL] [IFC] Infinitecoin retarget hard fork to resolve hashrate attacks

[Stefan]

The fork should occur at next halving time (block 259200). Currently I see there are 239877 mined blocks, so the time will be several days to develop and deploy the update across the community, pools and exchanges. If you think another block is a better idea, it's just about community agreement.
The another discussion should be about retarget flexibility, i.e. the maximum factor of difficulty adjustment or other adjustments that can be done in addition like change of halving time if you think that one month is too short, similar change has been done for GLD.

I am just a miner, if we agree on a hard fork, let someone code and release the update.
Thanks!

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[jdebunt]

the way ADT does it would be best for IFC (i think), unless you can come up with something extroardinary in a few days

[Stefan]

What is current adjustment factor (max up, max down)? Minimum difficulty?
Does somebody want to change halving time? The main reason for making halving time longer is that market price of the coin will soon be much less than mining price so that IFC will be too cheap to mine. This will result in that nobody except few miners will want to mine it and it will most probably die again.

[Heju22]

Add Poll to Infinitecoin.org

http://infinitecoin.wordpress.com/poll/

[Den821]

i voted

[Stefan]

Current block 242333, we are getting closer but still have enough time.
I see there are two groups, one for instant retarget and the other for no change.
The other poll at infinitecoin.org shows that almost everyone wants retargeting after every block.

[tokyoghetto]

my thought is the people who dont want a retarget change are:

1) not miners
2) support another coin
3) want to see this coin fail

time to prove the reason why WE NEED A HARD FORK.

This happened last night. IFC was pumped last night, it went from a low of 65 to a high of 113. This in turn had the auto switch pools attack IFC with over 2 gig hash of mining power.



This drove the diff of IFC to 5.116. Once the price dropped and the flash miners had left, We are now at 80 Mhash of mining power and pools are taking hours to find blocks. ifc.scryptmining.com is sitting at a WHOPPPING 500 khash of mining power, and hasn't found a block in 5 hours. So 80mhash @ 5.116 Diff, anyone care to figure how long it will take for the diff to change? sure as hell wont be 1 hour like fisheater predicted.



And now IFC sits 2 positions above bitcoin on coinchoose, at a disgusting profit margin that not even the most rookie miners want to touch. Look at ADT, its constantly at the top of coinchoose and rarely goes below LTC in terms of mining profit, ensuring hashing power stays with ADT and strengthening the network.



Anyone who voted that we keep the 120 block retarget, please tell us why that is such a good idea? If you cant make a solid argument then it is clear that you just want to see the coin fail. I would like a hard fork to fix the diff issue and I believe that anyone who is invested with IFC feels the same way.

Thank You for your time. 

[Stefan]

Okay, if we are going to do the hard fork (one poll is 15:17, the other is 18:3 which is strongly against 120 blocks retarget). What other changes do we need? See my post from above:

What is current adjustment factor (max up, max down)? Minimum difficulty?
Does somebody want to change halving time? The main reason for making halving time longer is that market price of the coin will soon be much less than mining price so that IFC will be too cheap to mine. This will result in that nobody except few miners will want to mine it and it will most probably die again.

[saamxx]

Okay, if we are going to do the hard fork (one poll is 15:17, the other is 18:3 which is strongly against 120 blocks retarget). What other changes do we need? See my post from above:

What is current adjustment factor (max up, max down)? Minimum difficulty?
Does somebody want to change halving time? The main reason for making halving time longer is that market price of the coin will soon be much less than mining price so that IFC will be too cheap to mine. This will result in that nobody except few miners will want to mine it and it will most probably die again.

We are not going to do any changes,yet.

Polls are povided a food for thought, only!!!


The only one who could make a last decision -is coin dev, i.e. fisheater.

If you wants to manage any coin - you have to create  own  coin.

[fisheater]

Thanks saamxx.

If community decided to change the retarget interval, I can do it. So far from the poll a slight majority people prefer not to make changes.

Another poll in heju's website shows strong favor for the change though.

Personally I think unless absolutely needed, a fork could have problems if not all clients upgrade, this usually will cause problems in mining. But again, I don't have a strong opinion one way or the other, and if community decide to do it, I'll make the new version available for it.

I'll investigate more and should a new version is needed, I'll make it (should take a hour to do).

[fisheater]

new client (V1.5) will be ready soon. The diff will be retargeted every block after block 24800 to address the current diff issue.

Please upgrade as soon as possible.

[Hydroponica]

You don't need a hard fork for this...

[saamxx]

You don't need a hard fork for this...

Who said it was hard fork? lol. Just update...

[Hydroponica]

You don't need a hard fork for this...

Who said it was hard fork? lol. Just update...

Um, the friggin title of the thread??

[saamxx]

You don't need a hard fork for this...

Who said it was hard fork? lol. Just update...

Um, the friggin title of the thread??

It should ask the one who started this topic.

Apparently he did not quite understand the difference between changes, issue fix and hard fork

[fisheater]

New client (version 1.5) is ready and source in github updated. Please upgrade as soon as possible.

[Stefan]

Version 1.6 is released. ** This is mandatory upgrade ***

Version 1.6 changed the diff retarget to each block, starting from block *245000*. We are currently at block 243736.

Again this is a mandatory upgrade, please upgrade as soon as possible. The download links are source in github are updated.
http://infinitecoin.wordpress.com/guide/

[Stefan]

Version 1.7 is released. ** This is mandatory upgrade ***

Version 1.7 fixed the diff retarget issue using PPCoin retarget algorithm, which proved to be a stable one. The switch will happen at block *248000*. We are currently at block 246302. Estimate about 2 days to reach there.

This is a mandatory upgrade, please upgrade as soon as possible. The download links and source in github are both updated.

Hope this is the last update we need for a while. Sorry about the inconvenience and thanks for your patience.

[Stefan]

Version 1.8 is released. This version uses last block interval and PPCoin algorithm for retargeting, instead of 120-block data. This will eliminate the oscillation that causes some miners to jump in and out. The switch will happen at block 272000, which is about 2 to 2.5 days from now (we are at block 265728). Version 1.8 also added new checkpoints to secure the blockchain.

The upgrade is mandatory, please upgrade as soon as possible. Hopefully this is the last upgrade for a while. Thanks for your understanding.

The download links are updated for windows client and source. After upgrade you can verify the version by checking Help->About Infinitecoin at your Qt client.

[murraypaul]

So the difficulty adjustment algorithm has been changed three times in about two weeks?
Doesn't exactly inspire confidence that the developers know what they are doing, does it?