Freicoin: How can I shorten the longest day?

[Ignore@YourPeril]

Hi,

I am thinking of spending 2500 of my precious Freis to shorten the longest day before the difficulty adjustment, defined as the last 144 blocks (24 hours*average target of 6 blocks per hour).

My plan is to announce prizes for open betting on time spent on the last 144 blocks before block 16128 (adjustment), so betting will be closed on block 15984 (16128-144). Only those bets that are spot on or less than the "longest day" will be valid. This should inspire bets in the lower range - and for those who did place their bets low: to start mining Freicoin...

I will give 100 FRC to anyone who either can point out some error in my definitions and reasoning here, or/and provides me with a more efficient way of spending 2.5k FRC for the described purpose.

Edit: We are currently on block 15950: http://www.cryptocoinexplorer.com:4750/chains

[galambo]

This is a great idea. I will put 2500 into the pot too because I think I will win

I think it will be easiest to verify by giving times in unix timestamps, you can calculate yours at http://www.epochconverter.com/

This is my bet. Please quote the bets so they cannot be edited.

1362411969 - Mon, 04 Mar 2013 15:46:09 GMT

We can check the result at http://cryptocoinexplorer.com:4750/ on the block screen (it has the timestamp number)

[Ignore@YourPeril]

Cool! Now we have 5k FRC in prizes. Then I will pledge my 2.5k for the first prize, you might want to have yours in 2nd prize or even 3rd - if you don´t sit on a ASIC ready to rev it up, ready to take it all that is..

I was thinking of having all bets in a separate thread, and lock it when all bets are over. But then this thread might drop, so then it would also have to be sticky until we reach the difficulty adjustment. Any mods here? Is this doable?

If you are in on it, then I suggest you start the OP of a new thread where the betting can commence (I think I was a bit drunk I think when registering my obnoxious username .

I will adjust my suggestion of the definition of the longest day: Let us rather have it the last 72 blocks, this could still take a couple of AFK days. These 72 blocks will then be like the 12 daylight hours of the last Freicoin day before adjustment. So we start a new thread where we open for bets -144 blocks before adjustment, which is then locked -72 blocks before adjustment.

We might have a little premium for those placing bets early also? Like have all bets in whole hours, with the first to place the bet getting priority over others if several similar bets are made?

Bets in Unix timstamps for the 16128 block is fine with me if there is no ambiguity of which timezone we are using.

[galambo]

Hmmm... lets make this easy and fun. Just change the title of the thread to "Freicoin: Guess the difficulty drop, win 5000 FRC" or something similar and we can post our guesses here.

Maybe make the cutoff block 16028 (100 until the change) to give more time to guess. I think there are a lot of things that could happen in a hundred blocks and there's still enough chaos to make it interesting

Please use unix epoch time in GMT from http://www.epochconverter.com/

[galambo]

Can you explain ways to calculate the drop time so that we can get more people involved.

Right now we have 168 blocks until difficulty change. (16,128-15,960=168)

If 14 blocks are solved per day that will be 12 days until difficulty change. Its a guess any method you use, and there is no cost to trying. So, why not make a guess?

  

[Ignore@YourPeril]

I would still prefer to have the cutoff at block 16056, to keep the theme of the longest day (72=12 hours*6 block average).

I think I have a good idea of how to have the guess locked without the need to trust me quoting it right. It is right in front of our noses:  The freicoin block chain!

You send your unix epoch guess in satoshis to a fresh address, truncated down to 100s of seconds. Like 0.13875840 to guess on epoch time stamp 1387584000 for 21.12.2013. From then on you can only alter your bet by tx out of it, until all bets end on block 16056.

If someone don´t have their first 0.2 freicoin yet, I´ll send it for you to make your guess in the blockchain.

[Bicknellski]

Wow... how about we just post here and guess the time it drops... simple and easy.

Start a thread with a clear title or re-title this one with easy to follow guide so everyone including the nubs can follow like me. Thanks.

[Ignore@YourPeril]

Hmm, you are probably right: it might put off newbies to have the guessing registered in the block chain. But any block chain is well suited to those purposes, that is to have a timestamp on some data coded as satoshis. So we are all set then? With guessing formatted as galambo explained in unix timestamps of the format:

<Unix timestamp> - <Readable time format.>

I will quote all guessing at cutoff which will be block 16056, and please do it one of you two if I for some reason is busy or overslept or something.... I´ll also make a new thread to have a fresh start for guessing to commence from posting nr. 2. I will even have a poll also , when I come to think of it.

[Bicknellski]

+1 Waiting on you.


Block   Approx. Time   
15977   2013-02-26 23:48:19 (CURRENT BLOCK)
16128   2013-03-16 20:00:00 (BLOCK DIFFICULTY DROP) or
16128      1363464000000 (Unix Time-stamp in milliseconds. BLOCK DIFFICULTY DROP)  

151 Blocks to go...