[FRC] - Difficulty Adjustment fork SUCCESSFUL!

[Bicknellski]

You lost the plot when you spouted off as knowing something....

Have you coded a difficulty filter for an ALTCOIN that works? Didn't think so but yet you are an expert.
You don't understand Demurrage.
You don't even know there is no FOUNDATION set up yet.

Seriously you are either woefully ignorant or arrogant or a mix of both.

I CAN BOLD TEXT TOOO I AM HERO

DOOFUS!

What I am saying is your woefully ignorant because you fail to READ the available information and educate yourself. Not just an ad hominem attack as you and Josh so love to do.

Take it up a level DOOFUS.... so we can argue the actual points.

1. You don't know what Demurrage is.
2. You didn't know the DEVs planned on this filter day one but didn't think it was ready yet.
3. You didn't know that this filter took time to prepare and get right and tested first.
4. You continue to fail to read anything about the coin to educate yourself.

That is either ignorance or arrogance. Take your pick.

[roy7]

Bicknellski, just look for the bright yellow box on the left under his name and click it.

[Bicknellski]

Bicknellski, just look for the bright yellow box on the left under his name and click it.

He can go on about BFL all he likes I agree with him on that ...

But here he is just being ignorant. He has not done any reading on the subject. He fails to understand the most basic concept the Demurrage. A tax? Really? Fuck me you are not well versed on what Demurrage means. Go read about it first then we can start on the same level of knowledge using the same FACTS or DEFINITIONS used by economists. Till then why do you bother posting here? It is obvious you have no idea what this coins potential or faults are if you don't even get the most basic component. Please feel free not to discuss the actually facts about the coin. We know why you don't know much about it.

Let me help you...

The demurrage goes to the miners.

[maaku]

@smoothie, stop trolling.

@Bik, don't feed the trolls

[Aditer]

Can someone in simple terms explain to me what's going on?

[roy7]

Can someone in simple terms explain to me what's going on?

A new difficulty adjustment algorithm is going live soon to better self-adjust for things like lots of ASICs mining when profitability is high, then jumping ship when profitability is low. Terracoin had a similar problem recently.

[smoothie]

1. You don't know what Demurrage is.

[more bullshit to divert attention]

Demurrage is the cost associated with owning or holding currency over a given period. It is sometimes referred to as a carrying cost of money.

LOL hold tight to them FRCs lol

[smoothie]

Can someone in simple terms explain to me what's going on?

A new difficulty adjustment algorithm is going live soon to better self-adjust for things like lots of ASICs mining when profitability is high, then jumping ship when profitability is low. Terracoin had a similar problem recently.

Which in turn is inflationary.

[smoothie]

@smoothie, stop trolling.

@Bik, don't feed the trolls

No. 

[Ignore@YourPeril]

Let's just hope smoothie doesn't realize this is his last chance ever to make Bics FRC stash rot noticeably faster (spoiler: by pointing his mining-rig at Freicoin before the update block... )

[Mike270]

When more ASICs (that mine SHA2560) are released, FRC will be destroyed by MEGA MINING of FRC.

Hang on to your precious FRC and be taxed on it with demurrage. 

I don't see that coming - if the algorithm is good, it will just increase difficulty accordingly getting block creation rate back to original rate within a short time.

[Tobius]

Can't we just get along We all have our own opinions. Personally, I like the ideas behind the coin, and I'll give it my own support

When more ASICs (that mine SHA2560) are released, FRC will be destroyed by MEGA MINING of FRC.

Hang on to your precious FRC and be taxed on it with demurrage. 

I don't see that coming - if the algorithm is good, it will just increase difficulty accordingly getting block creation rate back to original rate within a short time.

Sure hope it works, and well. Might be a nice solution to these terrible coin launches and the incoming ASICpocalypse

[Mike270]

Sure hope it works, and well. Might be a nice solution to these terrible coin launches and the incoming ASICpocalypse

And it would be a good extra point in making Freicoin unique, apart from story and philosophy behind it that other coins lag :-)

[zerodrama]

Also note that due to some extensive research and simulation run by our developers maaku and galambo we thing FRC will after this new algorithm goes into place have the highest degree of 'fitness' (the match between difficulty and actual network hash rate) of any coin EVER.

What is the point of upgrading your hardware if it makes the same amount of coin as before in a short time?

The incentive to protect the network via block reward is lost if you get the same result for more hardware.

This ungrade (downgrade would be generous) makes no sense.

[zerodrama]

Sure hope it works, and well. Might be a nice solution to these terrible coin launches and the incoming ASICpocalypse

And it would be a good extra point in making Freicoin unique, apart from story and philosophy behind it that other coins lag :-)

Feathercoin has a hash attack, anti-wham bam thank you ma'am option in the works. And it's not trying to get rid of investment advantage like all the other coins seem to do.

Perfection is a disease.

[Tobius]

LOL anyone who wasn't able to see that FRC's design would have these implications of large chunks of time between diff adjustments due to huge influx of miners...is fail...just fail.

LOL anyone who wasn't able to see that BTC's design would have these implications of large chunks of time between diff adjustments due to huge influx of miners...is fail...just fail.

Um....Sure!
Not really sure of what your trying to say but cool.

Ah, joke. I see @_@

No, it is not a joke.

In your opinion, it can't happen that Bitcoin runs into the same problems all other coins which retarget once per week or so already ran into. At the time it is obvious the future of
Bitcoin is in less and less hands, people like you still think Bitcoin is strong. It can't happen that Chinese mafia or government knock on the ASICMiner doors and suggest offline mode
permanently, or some similar entities knock on doors of publicly known individuals running major Bitcoin pools and suggest the same. Even if that happens, all miners will switch to
solo mining or other pools and save the Bitcoin!

You better wake up before it is too late.

I agree with you, I just found your last post oddly confusing XD

[erk]

I find it disturbing that Bitcon devs do not react even a bit on problems many other cryptocoins ran into, like somehow Bitcoin is different and the same can't happen to it. Fools.
Once it happens, it will hurt a lot.

Why would the Bitcoin devs expect to see a rapid drop in hashing power like has hit a few alt coins? BTC certainly hasn't peaked, nor is it showing the slightest signs of doing so.

[Mike270]

What is the point of upgrading your hardware if it makes the same amount of coin as before in a short time?

The incentive to protect the network via block reward is lost if you get the same result for more hardware.

This ungrade (downgrade would be generous) makes no sense.

Hi zerodrama,

but that's just the way it is... even for bitcoin: The amount of generated coins remains constant, and with global hashing power rising you need to invest to keep your share of generated coins constant.
With sha-256 this will soon force out less efficient hardware (for example GPUs regarding power consumption, then FPGAs until it may only be profitable with ASICs).
This will then put the formerly sha-256 mining GPUs onto scrypt chains like litecoin, and there it will become interesting... will litecoin value increase vs. bitcoin to compensate and stay profitable despite higher hashing power, or ...?

Think of it this way: Every normal factory will be forced once in a while to upgrade their factory machines - depending on market this may be once every few months or once every few decades.

[mc_lovin]

how is this stickied?

[Tobius]

how is this stickied?

...because it's an important announcement?
Just because you don't like the coin doesn't mean development stops.