[ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine

[BrewCrewFan]

Difficulty seems to be increasing. Now my coin per day projection is 0.3

At this rate I may not even have enough to withdraw. The Daemon wallet balance is still at 0.00000.....  - seems it has become too valuable for any giveaways

EUWYMachpVHPu9JYFDiDcmi9ag8YDHHU9R

.3 per day....Unless it's worth more than LTC, which I highly doubt, this does not seem like a profitable coin to mine...

Only for those that were able to once again jump on it early. By the time I was finished fumbling around trying to get the wallet to work via the cmd and stuff was tooooo late.

[Davethedestroyer]

Difficulty seems to be increasing. Now my coin per day projection is 0.3

At this rate I may not even have enough to withdraw. The Daemon wallet balance is still at 0.00000.....  - seems it has become too valuable for any giveaways

EUWYMachpVHPu9JYFDiDcmi9ag8YDHHU9R

.3 per day....Unless it's worth more than LTC, which I highly doubt, this does not seem like a profitable coin to mine...

Only for those that were able to once again jump on it early. By the time I was finished fumbling around trying to get the wallet to work via the cmd and stuff was tooooo late.

I was right on time, for once, and got forked hard!

[Magic8Ball]

Difficulty seems to be increasing. Now my coin per day projection is 0.3

At this rate I may not even have enough to withdraw. The Daemon wallet balance is still at 0.00000.....  - seems it has become too valuable for any giveaways

EUWYMachpVHPu9JYFDiDcmi9ag8YDHHU9R

.3 per day....Unless it's worth more than LTC, which I highly doubt, this does not seem like a profitable coin to mine...

Only for those that were able to once again jump on it early. By the time I was finished fumbling around trying to get the wallet to work via the cmd and stuff was tooooo late.

I was right on time, for once, and got forked hard!

Installed the Windows qt now and can see I had 6 orphans. *sigh*

ANybody can send even a 0.01 Elacoin to test out? Hate to see it lying at 0. Thanks

[baka]

when does the block reward increases, diff jumped 4x reward is still 1ELC.

[mebezac]

If anyone is buying and selling this, I now offer ELC escrow over at http://coinescrow.tk, if you don't use me or another escrow, please be careful, I hate to see people get scammed.

[Magic8Ball]

when does the block reward increases, diff jumped 4x reward is still 1ELC.

I think it was not fixed. It seems it will stay as it is.

[BrewCrewFan]

when does the block reward increases, diff jumped 4x reward is still 1ELC.

I think it was not fixed. It seems it will stay as it is.

Aww that is really gonna suck LOL.

[perhan007]

when does the block reward increases, diff jumped 4x reward is still 1ELC.

I think it was not fixed. It seems it will stay as it is.

Aww that is really gonna suck LOL.

+ 1

[Sondey10mg]

when does the block reward increases, diff jumped 4x reward is still 1ELC.

I think it was not fixed. It seems it will stay as it is.

Haha FAILCOIN. Only good feature isn't implented

[gudmunsn]

Installed the Windows qt now and can see I had 6 orphans. *sigh*

ANybody can send even a 0.01 Elacoin to test out? Hate to see it lying at 0. Thanks

sent.

[baka]

when does the block reward increases, diff jumped 4x reward is still 1ELC.

I think it was not fixed. It seems it will stay as it is.

Well that was the only good thing it had going for it, fuck this I'm going back to mining bitbar.

[Magic8Ball]

Installed the Windows qt now and can see I had 6 orphans. *sigh*

ANybody can send even a 0.01 Elacoin to test out? Hate to see it lying at 0. Thanks

sent.

Thanks a bunch. Will see till tomorrow if the reward does increase or will give up the ghost.

[gudmunsn]

Looks like the diff is 1.58178658 right now, with 15293 blocks in existence.

[Lastro]

http://travidition.com/wp-content/uploads/2013/02/where-is-my-wallet.jpg

What's wrong with elacoind?

It's infinitely too hard for all the point and click GUI noobs that have flocked to cryptocurrencies to get rich quick, brah.

O sorry people are not so smart as you and can do CMD or Lunix or whatever you use...

You want the cryptos to grow then stop being an asshole to new people.

Also, FYI, most people will not figure out how to get to the command prompt.

May you be bad at something and you get treated with the same respect you show the "noobs" here.

it's because we learnt it,
do it as well,
it's not difficult,
you just need to use 0.0005% of your active brain

Common man, that's warp factor 11 for me, engines will burn up. Scotty, put an extra shovelful of coal in the boiler...

[barwizi]

looking at OP's trend, he is gonna go it again to update git to fix the reward system and every1 mining right now is gonna look like a total tool

[coinerd]

There seems to be a lot of confusion about this.

Hash power (hashes per  second) does not change the block reward.

The difficulty setting changes the block reward.

Last I heard, 2 coins per block is expected when/if the difficulty hits 24.

[BitJohn]

yeah I heard it goes to 2 coins at 24 diff

[baka]

yeah I heard it goes to 2 coins at 24 diff

Oh yeah this is gonna play out brilliantly. I don't see people wasting that much money on power to get this failcoin to a whopping 2x reward.

[mat5x]

Has anyone yet examined the first few thousand blocks to figure out why Milkshake added two checkpoints to the git repository, to manipulate the blockchain and cause miners with majority hashpower (that weren't constantly pulling from git) to fork off onto a separate chain and leave the blockchain with blocks generated by the minority of mining hashpower?  Does everyone understand the forking issue wouldn't have occurred and the blockchain would've eventually resolved itself if Milkshake hadn't done that?

Code:

static MapCheckpoints mapCheckpoints =
        boost::assign::map_list_of
        (     0, uint256("0x521d2bc9fdb2534f26e5df423db7a64da14892993e4b4f0329c829a5e8194305"))
        (  2500, uint256("0xd301c065649cbbfb1e93cec353047a12256365c9d50ac689b23ad913df25b6fd"))
        (  5000, uint256("0x7671812122b751155ca6ed038f7b48e0f4f98a27a40dc9521d1c61d98e587544"))
        ;

It seems Milkshake did manipulate the blockchain with these checkpoints.  Now the question is why.  An analysis of the first ~5000 blocks should prove insightful.

see the irc logs. i can paste the whole set if you want to read through about 500 newbs trying to learn linux in a coin channel.

there might be some logic to it, but there was _A LOT_ of worry about bogey-man "AWS GUY" (please choose a ragecomic for this mythical character) was fucking up the blockchain.

early on, around 1000 blocks in or so, maybe 2000, i saw a REORG of _120 blocks_ in one shot. damn i dont have the debug.log from then ((( blew away .elacoin with a recompile to connect to more hosts at one point. my debug shows biggest reorg was 18 blocks now only. which is pretty big, but typical of early low diff launches.

he was paranoid so he checkpointed it in, fearing a total takeover of 1000s of blocks by 'aws guy'.

lack of experience ruled, methinks (i certainly dont have it, but there's a rumour going around that we all learn somewhere).

[mat5x]

yeah I heard it goes to 2 coins at 24 diff

Oh yeah this is gonna play out brilliantly. I don't see people wasting that much money on power to get this failcoin to a whopping 2x reward.

    int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));

from 0 to 24 diff its 1 coin, then 2 at 24. from then on however, its a linear scaling. at 48 its 3 and so on.

so til diff 24, starting at a low diff of 0.002 whateveritwas yes, it looks like an exponential drop in reward.

after 24 it's linear.

48 = 3, 72 = 4, 96 = 5, etc. (the +1 skews it a bit, but that will be less and less of a factor as time goes on).

CNC is already diff 41, ELA @this reward would be 2.
FTC 181, would be 8
LTC 605, would be 26

considering that it started at value of 1 per block, lets pretend it was like BTC and had 50 and redo the calcs above so you arent fooled by the 1:50 ratios (ie ELC is a high value coin, which people cant wrap their heads around, and i guarantee itll trade along side BBQ for a while. time for you to make some profit kids!)

@41, w/50 block equiv reward this would be 100 coins
@181, 200.
@605, 1300.

course i havent done the math to see how difficulty could get that high without tripping the block halving along the way (maybe a couple times), but you get the idea.

hopefully it will trade like its 20, 25 or 50 coins/block. the market should adjust it's valuation just fine, only thing is coin has to survive.

someone feel to setup a googdoc sheet to show the actual payout with halving epochs.

this is all basic math.

so no one mine it at all so it never hits 24 or it will suddenly look attractive! quick, stop mining!