FreiCoin (FRC) discussion (was FreiCoin (FRC) for TRC, PPC, LTC or BTC)

[bushstar]

I am in the middle of a complete rework of my personal network (Including the mining rigs). I will turn my miners (about 3.5 G/Hs) to the Freicoin network as soon as everything is done.

That would be great. We only saw 7 blocks solved in the last 24 hours. At this rate it is going to take 64 days till the difficulty adjusts. Then I guess we can expect a rush again.

[DarkHyudrA]

Dreamwatcher: Waste of energy, try another alt.

[galambo]

I am in the middle of a complete rework of my personal network (Including the mining rigs). I will turn my miners (about 3.5 G/Hs) to the Freicoin network as soon as everything is done.

That would be great. We only saw 7 blocks solved in the last 24 hours. At this rate it is going to take 64 days till the difficulty adjusts. Then I guess we can expect a rush again.

Well the good thing for people that hold Freicoin is this effectively greatly reduces the time value of demurrage. In a way it makes Freicoin worth more because you're losing less.

[crazyearner]

Ok re installed everything cleaned up old data seems its now connecting but still losing active connections. 1 min it had 8 then 3 then none and does not connect up.

Anyone got a full list of ports this uses to forward in router ?

I have 8332 and 8639 forwarded is their any others it uses or just them ?

Dont forward the RPC port (8332)

There is no need for people on the outside to connect to the remote RPC port.

Have you been able to get solo-mining work yet? If your mining software shows any hashes at all it is working.

I have managed to get it to connect up to a total of 23 connections and it wont download blocks or synk and download and this has been left open for over 5 hours and not downloading any data.

[nethead]

you're losing less.

just a highlight

[Nolo]

I understand difficulty can only increase a maximum of 4x at each adjustment period.  Is there a limit on how far difficulty can decrease per adjustment period? 

[Jorgeminator]

I understand difficulty can only increase a maximum of 4x at each adjustment period.  Is there a limit on how far difficulty can decrease per adjustment period?  

Same as maximum increase. Difficulty can go down to 1/4x at most.

[cryptodrifter]

So essentially there isn't enough hashing power on the network to make things suitably quick?

My client is reporting 15677 blocks complete, and the last was generated 13 hours ago. Normally it takes but a few seconds to sync up.

Hoping the freicoin network is intact.

Edit - Decided to push some hashing power to the network for the evening. Lets hope someone gets the next block.

The network is still fine. For one, it's the exact same as bitcoin.

We haven't monkeyed with the proven parameters that make Bitcoin work, not even the targeted inter-block time.

As you can see at cryptocoinexplorer.com, the current block is 15677. http://cryptocoinexplorer.com:4750/chain/Freicoin

Thanks Galambo. I will be sure to check out the cryptocoinexplorer to make sure my client it up to the latest block. (it is now btw)

[Sunny King]

Although too late now, perhaps a secondary condition for changing the difficulty based on a low average of blocks over a few days might avoid the issue in the future for any cryptocurrency. This is just a quick suggestion and I have not flushed out all the security concerns. This would probably require a hard fork.

There is no need for ad hoc rules like that. I have already presented a solution with ppcoin's continuous difficulty adjustment algorithm. Using a shorter adjustment interval like LTC works to some extent as well. Only TRC's 2-hour adjustment is probably too short and opens up to difficulty manipulation by the miners.

[Jutarul]

Although too late now, perhaps a secondary condition for changing the difficulty based on a low average of blocks over a few days might avoid the issue in the future for any cryptocurrency. This is just a quick suggestion and I have not flushed out all the security concerns. This would probably require a hard fork.

There is no need for ad hoc rules like that. I have already presented a solution with ppcoin's continuous difficulty adjustment algorithm. Using a shorter adjustment interval like LTC works to some extent as well. Only TRC's 2-hour adjustment is probably too short and opens up to difficulty manipulation by the miners.

+1. I always wondered why bitcoin has constant difficulty intervals anyway.

The running average implemented in ppcoin is most logical solution for difficulty adjustment and showed that it works well to accommodate rapid changes in hashrate.

[Sunny King]

It is 1 hour, and yes, network hashrate and thus difficulty tends to oscillate wildly but even though manipulators are doubling difficulty
often, TerraCoin is showing it's supremacy over most other coins. Not only that manipulator won't get much more TRC overally before
difficulty goes up - which is the point when he will jump off the network - but it'll take just 2 hours to have difficulty halved.

PPC might be better actualy, I haven't checked it because of security issues - are they fixed yet?

Ah yes I stand corrected it's 30-block adjustment interval equivalent to 1-hour. Last I checked I haven't seen any manipulation attempts yet, these large variations right now is probably just due to small sampling size of 30 blocks. When I get some free time I might consider demonstrating the problem with such short adjustment interval, I believe if miners collusion occurs the difficulty can be dramatically reduced persistently, if terracoin did not properly fix the time-travel vulnerability (which looks like they did not but do correct me if I am wrong on this).

As for progress of ppcoin's protocol upgrade you are welcome to check my weekly update thread.

[galambo]

you're losing less.

just a highlight

I think this is appropriate. The demurrage is less when there is less mining activity. I have always wanted a currency which increases in value when economic activity is slow and decreases in value when economic activity is overheated. Hopefully it creates a self-regulating system to manage booms and busts.

[ElectricMucus]

you're losing less.

just a highlight

I think this is appropriate. The demurrage is less when there is less mining activity. I have always wanted a currency which increases in value when economic activity is slow and decreases in value when economic activity is overheated. Hopefully it creates a self-regulating system to manage booms and busts.

Since when is there economic activity? Even dramatic activity has been less than stellar lately.

[Bicknellski]

Latest Difficulty vs. Nett Hash / Second.


Uploaded with ImageShack.us

[jjiimm_64]

is there a new projection when the diff will drop?

[Bicknellski]

is there a new projection when the diff will drop?

2 weeks I heard in an IRC chat post... Not certain.

http://pastebin.com/h1Am5bKw

18:24:19 PM] maaku: btw this hasn't come up, but I'm not worried about the hash rate at all
[18:24:43 PM] maaku: imho this is simply a combination of a lack of exchange and the skyrocketing btc price
[18:24:54 PM] jtimon: we could announce it like that, "the first amounts will depend on the proposals presented"
[18:25:38 PM] maaku: jtimon: yes, that's my thinking
[18:26:30 PM] jtimon: difficulty will lower "soon", judging from the last graph I saw, although I didn't counted the blocks, lazy me
[18:28:10 PM] jtimon: it went too fast at first, so it  may even be good that it slows down
[18:28:26 PM] maaku: we have exactly 400 blocks to go to the next adjustment
[18:29:14 PM] r000n: ~2 weeks
[18:36:15 PM] maaku: but i wanted to get a GUI element first that warns if there is a significant mismatch between block height and reference height
[18:36:35 PM] maaku: which I'm working on now
[18:37:08 PM] maaku: i'm thinking just highlight the reference height in red if it differs from the block height by more than 6
[18:37:30 PM] maaku: and maybe a tooltip explaining why
[18:37:40 PM] jtimon: yes, now that people are warned, it's better time to put it easier to change refHeigh
[18:38:18 PM] jtimon: sounds good
[18:39:13 PM] jtimon: a wiki article would be cool too
[18:41:59 PM] jtimon: explaining why that's an attack and what the limitations of the attack are if you just look at the refHeight
[18:42:51 PM] maaku: ah okay, that's a good idea
[18:50:15 PM] maaku: ok, so tasks for me: 0.0.2 release and debugging freico.in page buildout, and incorporation paperwork
[18:50:46 PM] maaku: if someone wants to take a stab a the ref height wiki article, that'd be great - it'd take one thing off my pile of work

[Jorgeminator]

is there a new projection when the diff will drop?

It could take anywhere between two weeks to four months. Yesterday there were only three blocks found, which means it would take almost 130 days until the difficult drops.

[jjiimm_64]

3 more blocks in the last  8 hours!

[Bicknellski]

How many more to go? 300?

[Jorgeminator]

How many more to go? 300?

Remaining blocks until diff. change = (8 * 2016) - current blockount
So now it would be 16128 - 15795 = 333