Terracoin. What the hell is going on?

[hiddenvalleyranch]

The difficulty was just in the single digits and now it's up to 13k.

http://www.cryptocoinexplorer.com:3750/chain/Terracoin

And the value of one block was 215?

[Nyx]

The difficulty was just in the single digits and now it's up to 13k.

a big miner stopped trc solo mining and has started again

And the value of one block was 215?

yes, because there are transactions in it.

the new trc-algo seems to me more or less stable...

[hiddenvalleyranch]

What's the new trc difficulty algo?

[shibaji]

Terracoin is terrifying 

[spacegoat]

i got my coins stuck in transit for 48 hours.  27 bitcoins of TRC worth.

I watched the price plummet from .014 to .0025 and could do nothing

hahaa.  it sucked.  what's the scoop is terra gnna pay me back?

[hiddenvalleyranch]

The difficulty has gone from 13k to 1 then up to 23k in the past 30 minutes. Is that normal?

[spacegoat]

yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it.  such as asics.  so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..

that's the cause of the wild swings

[flound1129]

yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it.  such as asics.  so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..

that's the cause of the wild swings

Won't that just cause a shitload of stales and orphans?

[spacegoat]

beats me

[SalvorHardin]

yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it.  such as asics.  so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..

that's the cause of the wild swings

Won't that just cause a shitload of stales and orphans?

I thought that's the reason Coinotron close down the TRC pool, pretty much all the blocks found by the pool was invalid.  Furthermore, the person who is attacking the TRC chain for days now, is still using the time-travelling exploit via really high hashrate, hashing 30 blocks in secret and then dump them all at once every hour (the dump used to be every 15~30 minutes).

[manface]

yeah terracoin does that now, it has a difficulty readjustment algorhythm in place for high hashrate machines attacking it.  such as asics.  so if those macines attack, instead of it going out of service for 48 hours, it now divides its difficulty exponentially every 10 minutes it hasn't found a block..

that's the cause of the wild swings

Won't that just cause a shitload of stales and orphans?

I thought that's the reason Coinotron close down the TRC pool, pretty much all the blocks found by the pool was invalid.  Furthermore, the person who is attacking the TRC chain for days now, is still using the time-travelling exploit via really high hashrate, hashing 30 blocks in secret and then dump them all at once every hour (the dump used to be every 15~30 minutes).

Yeah exactly. The chain is constantly being 51% attacked,bit hard to conduct business in it.

[jubalix]

seriously there has to be a better alogrithim to use i suggested 2nd or 3rd order exponential smoothing

[crazy_rabbit]

From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.

There are already now multiple Terracoin fork chains in existence, and it's quite possible that the chain has already been rewritten by the attacker who at times has had far more then 51% of the hash rate of the chain. Most likely the attacker is just either rewriting the chain, or plundering the chain by generating crazy numbers of block to make TRC to sell for BTC at the exchanges. We are being screwed.

There is another mandatory update out, which I would like to think will fix the problem, but at this point, we've been through a number of mandatory updates and the problem just gets worse.

[ElBurro]

A coin like this really should be removed from the exchanges. I was just about to buy some at BTC-e, glad I read this post first.

[jubalix]

From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.

There are already now multiple Terracoin fork chains in existence, and it's quite possible that the chain has already been rewritten by the attacker who at times has had far more then 51% of the hash rate of the chain. Most likely the attacker is just either rewriting the chain, or plundering the chain by generating crazy numbers of block to make TRC to sell for BTC at the exchanges. We are being screwed.

There is another mandatory update out, which I would like to think will fix the problem, but at this point, we've been through a number of mandatory updates and the problem just gets worse.

This seems correct

Though I can confirm now that it seem Vircurex and BTCe appear to be on the same blockchain as TRC was able to be sent between them

NOTE THIS DOES NOT MEAN AN ATTACK MAY FORK IN THE FUTURE

BUT THE OWNER OF THE ADDRESS TO WHOM YOU SENT THE TRC can always get the TRC BACK FROM ANY BLOCKCHAIN USING THERE PRIVATE KEY FOR THAT ADDRESS

[Trommie]

Presumably this is a fate that all smaller currencies that use SHA256 can suffer.

I have a theory that some are trying to undermine all the Alt-Currencies in a variety of ways not just by misusing their ASICs however with some weilding massive power with asics those using SHA256 are especially vulnerable.

Not good.

[mr_random]

Presumably this is a fate that all smaller currencies that use SHA256 can suffer.

I have a theory that some are trying to undermine all the Alt-Currencies in a variety of ways not just by misusing their ASICs however with some weilding massive power with asics those using SHA256 are especially vulnerable.

Not good.

I disagree PPCoin is SHA256 and as far as I am aware it's impossible to 51% attack computationally because PPCoin relies upon proof of stake not just proof of work. So if an ASIC gets >51% of the hash rate they can't screw anything up. So that is the major threat averted.

Additionally if an ASIC jumps on and ramps up the difficulty and then goes off, PPCoin has it's intelligent difficulty adjustment scheme which has been coping admirably with such events.

[roy7]

It figures I spent the last few late nights setting up a TRC pool, just to see if I could (using a bitcoin pool backend with terracoind instead, need to roll my own front end). Used it as a test all last night, found 11 coins, but only 4 survived. The other 7 I think probably happened during the difficulty dips where coins are found every few seconds. Mine didn't win the race I guess. I thought TRC had gotten stable the other day right before Coinotron suspended. Guess not. :/

[SRoulette]

From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.

Any moment now I expect to see LukeJr rear his head and claim credit for this  

I disagree PPCoin is SHA256 and as far as I am aware it's impossible to 51% attack computationally because PPCoin relies upon proof of stake not just proof of work. So if an ASIC gets >51% of the hash rate they can't screw anything up. So that is the major threat averted.

Additionally if an ASIC jumps on and ramps up the difficulty and then goes off, PPCoin has it's intelligent difficulty adjustment scheme which has been coping admirably with such events.

It must be true otherwise it would have been destroyed by LukeJr already 

[c4n10]

One day, people will realize that RuCoin is the only crypto with REAL 51% protection built into the client/network and people will use RuCoin not only or the protection against 51% but because it has the nicest GUI/features out of all the clients with btc-e chat/trade built into the client, it's own separate chat system built into the client, miner ID cells which broadcast your miner ID/name to the network when you find a block (people love to have their ego stroked).

RuCoin is best coin.