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Author Topic: Terracoin is ALLIIIIIVEEEE  (Read 22550 times)
crazy_rabbit
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April 07, 2013, 11:08:26 AM
 #21

While i do support terracoin i think the issue of someone poining asics at the network and thrus forcing up the difficulty of a reletively new coin shows a major flaw in most alt-coin designs - using the same algorythm as bitcoin, imho any alt coin that wants to stand the test of time and actually be taken seriously is going to need a difference algo - take litecoin as the perfect example, different algo and it's followed the same mining evolution as bitcoin.

First CPU, now GPU - next someone will develope an FPGA and eventually it will probably go ASIC - this is how it should be. it shouldnt run the risk of being killed off in a matter of days because someone pointed a high end mining device at it.

The lesson i think that should be learned is that now ASIC's are out there, if you want a serious alt-coin then dont use the same algo as someone else.



Well the thing is, when the hash rate gets more stable, we actually WANT the ASICs out there to mine the chain. The problem right now is figuring out how to accomodate ASIC's leaving the chain without unfairly penalising the rest of us. ASIC's provide security and strength, they are really very good- we just need to figure out how to deal with them in the bootstrap phase of a coin. Once we get past this, (or once there are more asics in the world, AHEM BFL) the hash rate will be more uniform and this won't be an issue anymore and the coin will be secured.

Growing pains, to say the least.

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April 07, 2013, 11:13:28 AM
 #22

what's with the generic stock pics of corporate guys in suits pointing at stuff on their website? i'd sooner mine cosbycoins before i mined this junk
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April 07, 2013, 11:13:49 AM
 #23

I've been stuck on 1 confirmation for hours.
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April 07, 2013, 11:18:56 AM
 #24

I find it insane that TRC is almost half the value of LTC on btc-e considering how unstable it is and how nothing accepts TRC. I sold all my TRC after the ASIC incident and expect the bubble to pop later today.

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April 07, 2013, 11:21:22 AM
 #25

what's with the generic stock pics of corporate guys in suits pointing at stuff on their website? i'd sooner mine cosbycoins before i mined this junk

right

yeah baby yeah
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April 07, 2013, 11:23:30 AM
 #26

I find it insane that TRC is almost half the value of LTC on btc-e considering how unstable it is and how nothing accepts TRC. I sold all my TRC after the ASIC incident and expect the bubble to pop later today.

+1

Terracoin is just failed experiment at this moment. It started great, but ASIC chain jumpers killed it. New patch, which is nothing but undo to previous
versions with 30 blocks retargeting, won't fix anything. Difficulty will keep on jumping from 100k+ down to eventualy 1 and then back to 100k+. Those
who think such altcoin has a future and are investing in it are, as guy above stated, insane.

I think CNN would concur that we are ALL insane for investing in crypto at the start.

It's a temporary patch to prevent the network from slowing to a crawl while a better solution is found. Rome wasn't built in a day....

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April 07, 2013, 11:29:45 AM
 #27

I find it insane that TRC is almost half the value of LTC on btc-e considering how unstable it is and how nothing accepts TRC. I sold all my TRC after the ASIC incident and expect the bubble to pop later today.

+1

Terracoin is just failed experiment at this moment. It started great, but ASIC chain jumpers killed it. New patch, which is nothing but undo to previous
versions with 30 blocks retargeting, won't fix anything. Difficulty will keep on jumping from 100k+ down to eventualy 1 and then back to 100k+. Those
who think such altcoin has a future and are investing in it are, as guy above stated, insane.

you misread the code, it always was a 30 blocks retargetting interval, the blocks count used to compute next difficulty, based on delay between those X blocks, changed from :

- 30 blocks backward (when coin was launched) ; ~ 29 until the potential 51% diff abuse fix was implemented
- to 24 * 30 blocks backward, a week or two ago,
- now (actually in 300 blocks) 3 * 30 blocks backward

so this is not (fully) an undo, but as crazy_rabbit said, until the network gets a more stable, higher hashrate, there will be fluctuations Sad
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April 07, 2013, 11:30:08 AM
 #28

Hmm.. maybe porting over the bitcoin testnet's "reset difficulty to 1 if new blocks haven't being mined in the past X time" is a good idea?

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April 07, 2013, 11:35:26 AM
 #29

Hmm.. maybe porting over the bitcoin testnet's "reset difficulty to 1 if new blocks haven't being mined in the past X time" is a good idea?

i guess this could be an idea, maybe not downgrading as far as diff=1, but somehow based on the time taken to forge the last X blocks
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April 07, 2013, 11:36:21 AM
 #30

Hmm.. maybe porting over the bitcoin testnet's "reset difficulty to 1 if new blocks haven't being mined in the past X time" is a good idea?

i guess this could be an idea, maybe not downgrading as far as diff=1, but somehow based on the time taken to forge the last X blocks
Halve the difficulty every 8 hours without blocks?

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April 07, 2013, 11:51:10 AM
 #31

TF:  Difficulty is a value in the blocks themselves, only a new block and set the difficulty for the next block.  By definition nothing in the block-chain can change without a block being made.  The only way to do what your describing would be to patch the client to make it intentionally over-ride the block-chain and accept that over-ride as valid.


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crazy_rabbit
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April 07, 2013, 11:51:36 AM
 #32

Hmm.. maybe porting over the bitcoin testnet's "reset difficulty to 1 if new blocks haven't being mined in the past X time" is a good idea?

i guess this could be an idea, maybe not downgrading as far as diff=1, but somehow based on the time taken to forge the last X blocks
Halve the difficulty every 8 hours without blocks?

That is a really good idea, although the other day it took almost as long anyway to get the difficulty all the way back down to normal, rather then just 1/2. Maybe it could be every 20 minutes?

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April 07, 2013, 11:52:13 AM
 #33

TF:  Difficulty is a value in the blocks themselves, only a new block and set the difficulty for the next block.  By definition nothing in the block-chain can change without a block being made.  The only way to do what your describing would be to patch the client to make it intentionally over-ride the block-chain and accept that over-ride as valid.

ah. Okay. Other suggestions? Besides BFL shipping ASICS and me finally getting one?

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April 07, 2013, 12:03:31 PM
 #34

hrm .. it looks like people are getting ready for the next mess (happening in 1 or two blocks from now?), noticeable increase in p2pool hashrate, people are collecting shares...

for sure, those 300 blocks, until next code update is applied, are going to be messy... Sad
(seeing how low the trc network hashrate currently is .. when dustcoin.com will start showing some green lights ... another massive spike will probably hit, while diff would still be calculated over the last 720 blocks??)
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April 07, 2013, 12:09:05 PM
 #35

as an emergency, when current found block came let's say 10 times "late" when compared to the awaited 2-mins interval, while not beeing a retargetting block, we could imagine lowering the diff don't you think?
(not sure about the ratio, multiply current diff by let's say .. 0.8 or 0.9 to prevent a yoyo effect of some sort)
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April 07, 2013, 12:28:10 PM
 #36

I find it insane that TRC is almost half the value of LTC on btc-e considering how unstable it is and how nothing accepts TRC. I sold all my TRC after the ASIC incident and expect the bubble to pop later today.

ASICs mined most of them, and are playing with the prices.
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April 07, 2013, 12:39:56 PM
 #37

Terracoin is a bubble that is going to burst fast if this keeps up much longer. This is the second time Terracoins have died in the last 2 days.

So we have a coin that offers no advantages over Bitcoin or Litecoin and it also keeps crashing due to the ASIC miners.  Undecided

People are just buying these Terracoins based on hype and hoping it will be the next Litecoin. The only reason it's so high in price is hype and short supply, the latter of which isn't going to last much longer with these ASICs caning the system.

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April 07, 2013, 12:52:33 PM
 #38

I find it insane that TRC is almost half the value of LTC on btc-e considering how unstable it is and how nothing accepts TRC. I sold all my TRC after the ASIC incident and expect the bubble to pop later today.

ASICs mined most of them, and are playing with the prices.

No, the ones playing with prices are people buying TRC. If there is no demand, one can set price anywhere above zero, but price will go down
to zero anyway. TRC still has pricetag just because some are ready to gamble big time, taking extreme risk. ASIC miners are just getting the
most out of the whole deal, that's it.

Terracoin devs should implement PPCoin retargeting code.

That is also an interesting idea- maybe sunny king can give some tips about this as well. How does the PPC retargeting code work?

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April 07, 2013, 01:07:19 PM
 #39

I find it insane that TRC is almost half the value of LTC on btc-e considering how unstable it is and how nothing accepts TRC. I sold all my TRC after the ASIC incident and expect the bubble to pop later today.

ASICs mined most of them, and are playing with the prices.

No, the ones playing with prices are people buying TRC. If there is no demand, one can set price anywhere above zero, but price will go down
to zero anyway. TRC still has pricetag just because some are ready to gamble big time, taking extreme risk. ASIC miners are just getting the
most out of the whole deal, that's it.

Terracoin devs should implement PPCoin retargeting code.

You must be joking...There are less buy orders than NVC. -_- There really is no real demand for it and it's all just speculation, and a few dudes buying a handful hoping to ride the wave. At this point it's just turning in to Gold, or some other icon of wealth that rarely gets traded.
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April 07, 2013, 01:09:51 PM
 #40

Terracoin is a bubble that is going to burst fast if this keeps up much longer. This is the second time Terracoins have died in the last 2 days.

So we have a coin that offers no advantages over Bitcoin or Litecoin and it also keeps crashing due to the ASIC miners.  Undecided

People are just buying these Terracoins based on hype and hoping it will be the next Litecoin. The only reason it's so high in price is hype and short supply, the latter of which isn't going to last much longer with these ASICs caning the system.

i bet everything is still secure, I'll send you Gold for your TRC today pm me
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