[ANN] Fastcoin - FST - The Fastest coin so far in the market - is launched!!

[almightyruler]

The networkhashps option that shows the total network hashrate doesn't include the P2Pool network because of it being decentralized and the way it calculates payouts by the amount of shares submitted.

I've had a quick look at GetNetworkHashPS() in rpcmining.cpp, and it seems to calculate the average hashrate based on the difference in time and work between the current block, and an earlier one (covering a reasonable period). I don't understand why blocks that p2pool found would not be included in this calculation.

[m0gliE]

The networkhashps option that shows the total network hashrate doesn't include the P2Pool network because of it being decentralized and the way it calculates payouts by the amount of shares submitted.

I've had a quick look at GetNetworkHashPS() in rpcmining.cpp, and it seems to calculate the average hashrate based on the difference in time and work between the current block, and an earlier one (covering a reasonable period). I don't understand why blocks that p2pool found would not be included in this calculation.

If you look now, GetNetworkHashPS is showing 178 MH/s while P2Pool's network is reflecting 391MH/s.

[lifeforcepools]

I SEE 272

[m0gliE]

I SEE 272

Just went up - bouncing around 251 MH/s while P2Pool is 330MH/s

P2Pool node - http://inetrader.com:5150/static/

[almightyruler]

I SEE 272

Just went up - bouncing around 251 MH/s while P2Pool is 330MH/s

P2Pool node - http://inetrader.com:5150/static/

The difference between the client and P2Pool estimate could simply be because one is averaging more blocks than the other.

The client will use up to 300 prior blocks to calculate the network hashrate; under perfect conditions, 300 blocks is an hour. The fact that P2Pool's estimated hashrate is more erratic suggests a shorter sample period.

I don't think it's even feasible to postulate that P2Pool could somehow magically be hashing at a higher rate than the overall FST network, since it writes found blocks to the chain, just like a solo miner, or centralised pool. The blocks in the chain define the hashrate, including those found by P2Pool. If P2Pool was indeed somehow hashing "out of band" then there must be some incredible inefficiency present somewhere, which is causing it to waste hashing power.

[m0gliE]

I SEE 272

Just went up - bouncing around 251 MH/s while P2Pool is 330MH/s

P2Pool node - http://inetrader.com:5150/static/

The difference between the client and P2Pool estimate could simply be because one is averaging more blocks than the other.

The client will use up to 300 prior blocks to calculate the network hashrate; under perfect conditions, 300 blocks is an hour. The fact that P2Pool's estimated hashrate is more erratic suggests a shorter sample period.

I don't think it's even feasible to postulate that P2Pool could somehow magically be hashing at a higher rate than the overall FST network, since it writes found blocks to the chain, just like a solo miner, or centralised pool. The blocks in the chain define the hashrate, including those found by P2Pool. If P2Pool was indeed somehow hashing "out of band" then there must be some incredible inefficiency present somewhere, which is causing it to waste hashing power.

What's happening is that the P2Pool network has so much hashrate that it's solving multiple's of the same blocks, causing some to orphan which in turn causes the daemon to improperly calculate the hashrate. So essentially the pool is assuming it has more hashrate because of the multiple blocks being submitting at the same time.

[morphtrust]

where is a good pool to mine fast that is not P2P? every pool on the list that is on the official site is crap. either the site can not be loaded or found, is a fishing site or the pool does not work at all.

[danieluk9]

where is a good pool to mine fast that is not P2P? every pool on the list that is on the official site is crap. either the site can not be loaded or found, is a fishing site or the pool does not work at all.

I could make one if people would use it... I made an SBC one as it's currently pretty much top ranking on Coinwarz http://151.80.140.87/MPOS/public/index.php?page=register

But as I said, if anyone would be interested in a pool I wouldn't mind giving it a shot

[Sprite160]

Not sure why, but the wallet seems to lock up on my pool. I have to keep going in to restart the wallet, and there are TON of pending/unconfirmed but not orphaned blocks. Going to shut down FST on diggerpool.com until this gets resolved. There has been a miner in there for a while, so I am going to send this person what I have in my personal wallet.

[rikkie]

FASTCOIN???
My wallet is downloading the blocks. NO problem, but it goes so slowly.
Already two days i'm downloading the blocks and still 70 weeks behind.
Is this normal?

[Sprite160]

FASTCOIN???
My wallet is downloading the blocks. NO problem, but it goes so slowly.
Already two days i'm downloading the blocks and still 70 weeks behind.
Is this normal?

Did you download the blockchain from the download page?

[rikkie]

FASTCOIN???
My wallet is downloading the blocks. NO problem, but it goes so slowly.
Already two days i'm downloading the blocks and still 70 weeks behind.
Is this normal?

Did you download the blockchain from the download page?

Oh, i have version 4.8.5

Should i have downloaded an old version perhaps?
Can i upgrade or is it better to restart again?

[m0gliE]

Not sure why, but the wallet seems to lock up on my pool. I have to keep going in to restart the wallet, and there are TON of pending/unconfirmed but not orphaned blocks. Going to shut down FST on diggerpool.com until this gets resolved. There has been a miner in there for a while, so I am going to send this person what I have in my personal wallet.

How much ram do you have on your host allocated to fastcoind? Did you also provide a large enough swapfile?

[m0gliE]

FASTCOIN???
My wallet is downloading the blocks. NO problem, but it goes so slowly.
Already two days i'm downloading the blocks and still 70 weeks behind.
Is this normal?

Did you download the blockchain from the download page?

Oh, i have version 4.8.5

Should i have downloaded an old version perhaps?
Can i upgrade or is it better to restart again?

You should try to run the -reindex command line perimeter, what happens is that after downloading the bootstrap/blockchian, the blocks will sometimes be out of sync from what the other nodes tries to send or request blocks you already have which causes the client to have to sort out the differences. Running the -reindex line helps organize the database and makes the rest of the sync process run more smoothly. Also, while importing the blockchain, it's a good idea to only connect to one node so this doesn't happen. Set maxconnections=1 in your .conf so you don't get several nodes sending you chunks of 500 blocks that you may already have. After you import, you can change to something like maxconnections=30 and then run -reindex if needed.

[rikkie]

FASTCOIN???
My wallet is downloading the blocks. NO problem, but it goes so slowly.
Already two days i'm downloading the blocks and still 70 weeks behind.
Is this normal?

Did you download the blockchain from the download page?

Oh, i have version 4.8.5

Should i have downloaded an old version perhaps?
Can i upgrade or is it better to restart again?

You should try to run the -reindex command line perimeter, what happens is that after downloading the bootstrap/blockchian, the blocks will sometimes be out of sync from what the other nodes tries to send or request blocks you already have which causes the client to have to sort out the differences. Running the -reindex line helps organize the database and makes the rest of the sync process run more smoothly. Also, while importing the blockchain, it's a good idea to only connect to one node so this doesn't happen. Set maxconnections=1 in your .conf so you don't get several nodes sending you chunks of 500 blocks that you may already have. After you import, you can change to something like maxconnections=30 and then run -reindex if needed.

I'm gonna try to do it as you explained in the post above.
Thanks for helping me.

[rikkie]

FASTCOIN???
My wallet is downloading the blocks. NO problem, but it goes so slowly.
Already two days i'm downloading the blocks and still 70 weeks behind.
Is this normal?

Did you download the blockchain from the download page?

Oh, i have version 4.8.5

Should i have downloaded an old version perhaps?
Can i upgrade or is it better to restart again?

You should try to run the -reindex command line perimeter, what happens is that after downloading the bootstrap/blockchian, the blocks will sometimes be out of sync from what the other nodes tries to send or request blocks you already have which causes the client to have to sort out the differences. Running the -reindex line helps organize the database and makes the rest of the sync process run more smoothly. Also, while importing the blockchain, it's a good idea to only connect to one node so this doesn't happen. Set maxconnections=1 in your .conf so you don't get several nodes sending you chunks of 500 blocks that you may already have. After you import, you can change to something like maxconnections=30 and then run -reindex if needed.

I have done as mentioned.
It goes indeed much faster.
Downloading the blocks goes much quicker now.
Thanks for the help.

[Cash BTC]

How fast it is compared to Paycoin?
www.paycoin.com

[m0gliE]

How fast it is compared to Paycoin?
www.paycoin.com

Much faster...

Fastcoin has a 12 second block time compared to their 60 seconds block time.
Fastcoin transactions confirm after 4 blocks, making a transaction complete in 48 seconds!
Compare this to their 5 confirmations x 60 seconds = 5 minutes to confirm a transaction.

They also require no transaction fee, which does not give their miners any incentive to mine.

Fastcoin has been sustained by providing miners a decent amount of fees for relaying transactions.

Fastcoin is not only fast, but it is also sustainable for it's community of loyal miners and their operations.

[Cash BTC]

How fast it is compared to Paycoin?
www.paycoin.com

Much faster...

You probably never used Paycoin, it has nearly instant transaction.

An average confirmation is around 2/5 seconds and at maximum less than a minute.

It achieve this by having a nearly centralised mining in the hand of a single Company GAW Miners. I tried it and it has nearly instant transactions.

FastCoin is interesting if it can achieve the same result without having centralised mining.

[shieldcoindevs]

http://inetrader.com/ looks like this pool is taking 90% of the coins instead of paying out.