MalReynolds
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August 05, 2016, 02:01:25 PM
Last edit: August 05, 2016, 02:31:55 PM by MalReynolds |
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I do agree that removing the Difficulty Bomb needs to be addressed very soon.
This is an understatement. The DB needs to be addressed NOW. Both ETH and now ETC are living on borrowed time. They are both like trains speeding down a railroad track where the bridge across the canyon has broken up ahead. Something's gotta give. For ETH, Vatalik is rushing (um, never a good thing in writing code) to get a fork to Casper in place. THis will shift the ETH train over onto a Proof-of-Stake-only track. For ETC....  Who the hell builds something like a Difficulty Bomb into their code before they have even set up a testnet to verify the alternative required for survival? I just got into Ethereum this week as a buy-and-hold ETC investor. Tthe deeper I do my research, the more insane VB and the rest of the Ethereum team appears to me. http://allcoinsnews.com/2016/03/09/ethereum-releases-serenity-poc2-first-python-proof-of-concept-version/From March 9: "The Ethereum developers have made available the first python based proof of concept ( simulation) release of Serenity, the version of the Ethereum protocol designed to move from consensus through proof-of-work to proof-of-stake. Called Serenity PoC2 ( which contains the Casper economic consensus protocol) is now available on Github and continues to be not a testnet-ready or production-ready client, according to Ethereum co-founder Vitalik Butterin." Read more on the Difficulty Bomb: http://ethereum.stackexchange.com/questions/323/what-is-the-difficulty-bomb-and-what-is-the-goal-of-ithttp://ethereum.stackexchange.com/questions/3779/when-will-the-difficulty-bomb-make-mining-impossible/3800#3800https://forum.ethereum.org/discussion/7185/ethereum-mining-bomb-probably-only-6-more-months-of-eth-mining-left"....starting from block 200,000 (very roughly X days from now), the difficulty will undergo an exponential increase which will only become noticeable in about a year...." Note - Block 200,000 was hit just this week. What a coincidence. The clock is ticking. |
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greenuser
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August 05, 2016, 02:01:45 PM |
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Good news.  I am going to repost this as people are asking me for info. Please study this video well and watch for the "tells" |
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greenuser
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August 05, 2016, 02:03:42 PM |
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Do we have an ETA for the fork?
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paulc010
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August 05, 2016, 02:05:37 PM |
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I plan to put this to Charles, what do people think?
If it were possible then I would suggest that once the difficulty bomb has been defused then multi-algo POW mining (a la DGB) would create a coin that's unstoppable. I think following Ethereum's POS plan would kill ETC dead and simply extending POW as-is would be placing all the mining power into the hands of miners who have been hostile to the coin. |
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scorpio18
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August 05, 2016, 02:11:21 PM |
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greenuser
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August 05, 2016, 02:20:35 PM |
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@MalReynolds I managed some PMs with Charles but i think there is a big time difference. Give him a nudge on my above post on PoS/PoW? I like the idea of PoS/Pow/PoC things like burst are just so less energy intensive. Maybe we could fork to fix the bomb, then let eth go to PoS and pick-up their miners. We could sort the algorithm under less pressure and spend the time to get it right. A series of planed staged forks to reshape the network? ? Anyone want to chip in https://www.reddit.com/r/EthereumClassic/comments/4w5xz2/charles_hoskinson_on_etc_devs_are_coming/ |
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RayX12
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August 05, 2016, 02:23:15 PM |
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I have not received payment for 17 hours... stop mining with them now until the pay!!!!!!!!!! |
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suchmoon
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August 05, 2016, 02:28:28 PM
Last edit: August 05, 2016, 03:03:38 PM by suchmoon |
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"....starting from block 200,000 (very roughly X days from now), the difficulty will undergo an exponential increase which will only become noticeable in about a year...."
Note - Block 200,000 was hit just this week. What a coincidence. The clock is ticking.
Edit: Vitalik says you're good for a little bit longer, yay... https://www.reddit.com/r/ethereum/comments/4iozgf/in_around_14_month_the_difficulty_bomb_will_make/d30c0lqIt looks like end of November should be the deadline. Up to 20 seconds per block is probably not fatal. Over a minute (January 2017) would drop mining revenue by 75%, would the price rise 300% to compensate? Removing the bomb shouldn't be a big change but it looks like this will be pulled in all sorts of different directions, POS, POS/POW, etc. The focus should be just the bomb and done ASAP. Then the bickering can start. Difficulty on 2016-06-03 is 35.15 T and average blocktime is 14.99 seconds.
Difficulty on 2016-07-07 is 35.18 T and average blocktime is 15.00 seconds.
Difficulty on 2016-08-02 is 35.25 T and average blocktime is 15.03 seconds.
Difficulty on 2016-09-06 is 35.56 T and average blocktime is 15.16 seconds.
Difficulty on 2016-10-02 is 36.40 T and average blocktime is 15.52 seconds.
Difficulty on 2016-11-06 is 40.17 T and average blocktime is 17.13 seconds.
Difficulty on 2016-12-02 is 48.56 T and average blocktime is 20.71 seconds.
Difficulty on 2017-01-05 is 88.83 T and average blocktime is 37.88 seconds.
Blocktime over one minute in January 2017
Difficulty on 2017-02-09 is 249.8 T and average blocktime is 106.5 seconds.
Difficulty on 2017-03-07 is 679.3 T and average blocktime is 4.829 minutes.
Difficulty on 2017-04-02 is 1.753 P and average blocktime is 12.46 minutes.
Difficulty on 2017-05-07 is 6.907 P and average blocktime is 49.09 minutes.
Blocktime over one hour in May 2017 |
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mybitcoin101
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August 05, 2016, 02:40:58 PM |
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Good news. I am going to repost this as people are asking me for info. Please study this video well and watch for the "tells" a great victory for classic. martin from gnosis was representing the forked eth, what an embarrassment he was. As malreynolds said, "Please study this video and watch for tells." great saying! |
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MalReynolds
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August 05, 2016, 02:43:30 PM |
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As malreynolds said, "Please study this video and watch for tells." great saying!
Altho I am indeed an avid poker player, the "watch for tells" line comes from greenuser!  Green, if you are a poker player too, let's meet someplace online and play heads-up for low stakes! |
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mybitcoin101
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August 05, 2016, 02:47:06 PM |
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As malreynolds said, "Please study this video and watch for tells." great saying!
Altho I am indeed an avid poker player, the "watch for tells" line comes from green! It is a great quote my friend! not to change the subject, you need to watch rounders. great movie. ok, back to classic. |
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greenuser
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August 05, 2016, 02:48:20 PM |
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Good news. I am going to repost this as people are asking me for info. Please study this video well and watch for the "tells" a great victory for classic. martin from gnosis was representing the forked eth, what an embarrassment he was. As malreynolds said, "Please study this video and watch for tells." great saying! @suchmoon nice work, @mybitcoin101 "Please study this video and watch for tells." was my addition. I don't want to put words in MalReynolds mouth. I trained as a Psychiatric Nurse and i'm good at poker too.  They are worried! |
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mybitcoin101
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August 05, 2016, 02:51:44 PM |
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Good news. I am going to repost this as people are asking me for info. Please study this video well and watch for the "tells" a great victory for classic. martin from gnosis was representing the forked eth, what an embarrassment he was. As malreynolds said, "Please study this video and watch for tells." great saying! @suchmoon nice work, @mybitcoin101 "Please study this video and watch for tells." was my addition. I don't want to put words in MalReynolds mouth. I trained as a Psychiatric Nurse and i'm good at poker too. They are worried! . Poker player you say? watch rounders, great movie. |
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MalReynolds
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August 05, 2016, 02:58:57 PM
Last edit: August 05, 2016, 05:22:34 PM by MalReynolds |
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ocminer
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August 05, 2016, 02:59:55 PM |
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Good news. I am going to repost this as people are asking me for info. Please study this video well and watch for the "tells" a great victory for classic. martin from gnosis was representing the forked eth, what an embarrassment he was. As malreynolds said, "Please study this video and watch for tells." great saying! Really a cool video, was worth watching, happily awaiting the next one |
suprnova pools - reliable mining pools - #suprnova on freenet https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools |
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suchmoon
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August 05, 2016, 03:01:49 PM |
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@suchmoon nice work,
Indeed, not mine though  From one of the links posted by MalReynolds: http://ethereum.stackexchange.com/questions/3779/when-will-the-difficulty-bomb-make-mining-impossibleReading down the page it looks like "bad things" might not start happening as quickly as initially planned, perhaps some time in 2017: https://www.reddit.com/r/ethereum/comments/4iozgf/in_around_14_month_the_difficulty_bomb_will_make/d30c0lq
[–]vbuterinJust some guy 11 points 2 months ago*
As it turns out, with the change in the difficulty adjustment algorithm brought about in the last hardfork, the ice age will come very slowly indeed. Originally, the maximum amount by which the difficulty could adjust was 1/2048x, and so given a natural mining difficulty of ~2**45 (where it is now), after around block 3500000, it would go up faster than it goes down, and the protocol would quickly freeze. Now, difficulty can adjust down faster than that if the block time is slow enough, and so even after this point there is an equilibrium. At block 3.5m (1 year from now), we would have an equilibrium block time of 25s for 100k blocks (~1 month); then we would see 35s for 100k more blocks (now ~1.4 months); then ~55s for ~2.2 months, then ~95s for ~3.8 months, and so forth until we get ~655s for ~26 months (ie. slightly worse than bitcoin), and only after that does the protocol break because of the cap of ~99/2048 downward adjustment, and that final doom does not take place until 2021 (though it certainly gets very annoying by the second half of 2017).
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mybitcoin101
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August 05, 2016, 03:02:56 PM |
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who is in charge of settng that slack channel up? |
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MalReynolds
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August 05, 2016, 03:14:01 PM |
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who is in charge of settng that slack channel up?
Looks like bitnovosti set up the slack site on July 20 which initialized the general channel there. Seccour then set up the trading / mining / development channels, and proslogion started the dapp channel. Anybody can start a new channel now that the site is set up - there are 28 channels so far. |
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greenuser
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August 05, 2016, 03:27:52 PM |
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who is in charge of settng that slack channel up?
Looks like bitnovosti set up the slack site on July 20 which initialized the general channel there. Seccour then set up the trading / mining / development channels, and proslogion started the dapp channel. Anybody can start a new channel now that the site is set up - there are 28 channels so far. I am a member of 2 teams already on slack but they are not ethereumclassic teams. I just get the message "If you're trying to join a specific team that isn't listed here, you can try contacting your Team Administrator for an invitation." |
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MalReynolds
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August 05, 2016, 03:57:31 PM
Last edit: August 05, 2016, 05:21:31 PM by MalReynolds |
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I am a member of 2 teams already on slack but they are not ethereumclassic teams. I just get the message "If you're trying to join a specific team that isn't listed here, you can try contacting your Team Administrator for an invitation."
What happens when you click on http://ethereumclassic.herokuapp.com ? Should be an option to sign up.... Edit: I have corrected the link in my posts above to the one redsn0w recommends. Thanks, red! |
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