Is Terracoin's design flawed?

[Frizz23]

Difficulty swings between 2.000 and 12.000 several times per day. And so does network hashrate, because miners are jumping on and off.

Is Terracoin's design flawed?

[jar]

I would say "yes", but this is a known problem that has been corrected and should change after block 99988 (sometime Sunday).  The difficulty retargetting has been abused by miners jumping on and off the network.  Watch the difficulty changes next week.  They should be much smoother.

[celkaris]

i guess they initially hoped for a higher network hashrate, making those hashrate abuse insignificant. One day maybe...

[Frizz23]

I would say "yes", but this is a known problem that has been corrected and should change after block 99988 (sometime Sunday).

Nope. The difficulty still fluctuates like crazy (between 12.000 and 2000 in the last few hours).

[jar]

No, I believe you are mistaken. The difficulty has been decreasing in the past few difficulty adjustments. This was actually to be expected initially after the expected fork that happened today. Because the average network over the last 24*30 blocks was so low, what you're seeing now is that correction. Eventually it will be going back up with all the new miners showing up. Please show me the difficulty and block numbers if you make a statement like that.

[jar]

I would say "yes", but this is a known problem that has been corrected and should change after block 99988 (sometime Sunday).

Nope. The difficulty still fluctuates like crazy (between 12.000 and 2000 in the last few hours).

Indeed. What went wrong?

Chill. Just wait and watch.

[crazy_rabbit]

Difficulty swings between 2.000 and 12.000 several times per day. And so does network hashrate, because miners are jumping on and off.

Is Terracoin's design flawed?

No, personally I don't think there is anything wrong with fluctuating hash rate- even wildly so. That said, the devs did alter this behaviour which should take effect around block 99988, so we will see what it's like then. The diff swing though is free market encouragement for your mining power. Why wait 2 weeks (bitcoin) or several days (litecoin) to know if you're mining something profitable?

[celkaris]

According to cryptocoinexplorer.com block #99988 was forged 4 hours ago or so.

Sunnyking reported that trc diff will now be computed from the average time taken to solve 30 blocks, over the last 24 hours.

I guess we'll have to wait a bit more to see some effects coming in, but i'm affraid this will lead to a huge difficulty rise in 12 hours or more, as many people jumped in, probably because of dustcoin.com (and others) reporting low diff

[crazy_rabbit]

According to cryptocoinexplorer.com block #99988 was forged 4 hours ago or so.

Sunnyking reported that trc diff will now be computed from the average time taken to solve 30 blocks, over the last 24 hours.

I guess we'll have to wait a bit more to see some effects coming in, but i'm affraid this will lead to a huge difficulty rise in 12 hours or more, as many people jumped in, probably because of dustcoin.com (and others) reporting low diff

Almost makes you wish it were possible to collapse the difficulty back to 0 and mine the heck out of some coins. :-) Kidding of course. That said, its' good that this was found and pointed out. Perhaps some day an exploit will be found in an alt chain before it's found in bitcoin- that would prove alt coins to be useful in and of themselves.

[tacotime]

Difficulty is 2503 now, I'd like to see the math behind it. There is simply no way that was the average difficulty for the last 720 blocks.

If it's anything like PPCoin (since SK helped fix it) it's just based on the exponential moving average of a longer period of blocks.

http://en.wikipedia.org/wiki/Moving_average#Exponential_moving_average

[crazy_rabbit]

Difficulty is 2503 now, I'd like to see the math behind it. There is simply no way that was the average difficulty for the last 720 blocks.

It might not be as unreasonable as it might seem. On Coinotron earlier Kumala was hashing away with what could have only been multiple Asics and there were a number of other obscenely powerful miners on the chain. That said- it's true 2503 is really way to low. Let see what happens in the next 12-24 hours.

[jar]

Yes, we will be seeing a difficulty increase in a few hours. Its just the the current difficulty is based on the last couple days of mining when miners were still chain hopping. The average network performance was very low. It was only very high for a few minutes and then low performance for hours. What you're seeing now is a reflection of that.

With that being said, now is a great time to start mining TRC. Hurry up before the difficulty gradually goes up!

[VforVictory]

The last few block on Coinotron have all been solved in seconds. O_o And by few I mean the last 20+. This doesn't feel like normal behavior...

[crazy_rabbit]

The last few block on Coinotron have all been solved in seconds. O_o

After I posted the 8x profitability screenshot the lions pounced.

[VforVictory]

I can't even get shares. All I see in CGminer is "Detected new block" -_-

[celkaris]

hopers leaving when rise will start, will kill the whole thing

[jar]

The last few block on Coinotron have all been solved in seconds. O_o And by few I mean the last 20+. This doesn't feel like normal behavior...

We've seen a massive jump in network performance at the same time as low difficulty for the reasons I stated above. Check back in several hours.

[crazy_rabbit]

hopers leaving when rise will start, will kill the whole thing

Won't last forever, huge miners are getting a bit of a free pass as the system adjusts to the new Diff computation system. The diff will bite back soon enough.

EDIT: Everyone should be mining as much as possible right now. It's only going to get harder after this.

[jar]

hopers leaving when rise will start, will kill the whole thing

Why would hoppers leave if its *only* 200% profitable?

[crazy_rabbit]

hopers leaving when rise will start, will kill the whole thing

Why would hoppers leave if its *only* 200% profitable?

I don't think the price will remain as high as it is. Those huge miners want BTC and they are going to dump a few k on the market pretty quickly i imagine.