[ANN] ELACOIN fork: retarg @19440 diff .3 |interval calc change? see page 11+

[barwizi]

gentlemen and ladies, i made my views clear earlier. and now we are where i said we would be. i'm done with this coin, i have my own. Piece of advice, do what i said, and react to market developments, the ideas behind this coin are ancient and i'm glad i sold when interest and price were high.

[GoldBit89]

ERHcYpkcLvf7CDxXbb5WX7KJEAoZes6HSr

Thank you.

[captainfuture]

so, is this coin dying?

[mat5x]

doesnt seem to be does it!

[perhan007]

We need a pool :-(

[mat5x]

We need a pool :-(

yeah not sure what happened to all the pools for ELC? p2pool delisted it, Trenal's pool is down, and Vern doesnt have the domain for elacoinpool.org anymore.

anyone?

[nearmiss]

New ELC Pool!  (well technically, its a returning pool, but a fresh start)

http://elc.scryptmining.com

stratum
vardiff
prop payouts.


Come check us out!  Spread the word, ELC lives!

Hit up me via pm, or join us in #scryptmining on freenode.

[nearmiss]

bump.  #1 on coinchoose, come join the party 

[lexa]

New Elacoin pool elc.blocksolved.com has launched.

Our ELC pool features:

• 2% fee
• stratum protocol
• variable difficulty
• automatic payout every minute
• minimum payout threshold lowered to 0.1

Happy Elacoin mining!

[mat5x]

I see the floor() of the diff is going to bite us again at the next retarg. But fixing that means another fork. This means the 'coin is dead'. Then again, anyone holding value in the coin will be hotpotatoed because no transactions will take place if its truly dead. So it's a trade off - let it die, or fix it so it hobbles along. Im sure those with no holdings would love to let it die, since they're not in the game. Those with however...

basically, the

Code:

int64 diff

in the reward calc should be

Code:

double diff

Comments?

[mat5x]

now that the difficulty is higher, the correction isnt so important as the ratio of the 'miscalc' or whatever you wanna call it vs the diff gets smaller with higher diff. So just keep mining...

[mat5x]

did the calculation for the hell of it:

 69503.5 ELC exist as of block 46322

ill be setting up a page with more stats soon.

[r3wt]

mat5x = tradefortress

[barwizi]

mat5x = tradefortress

the scam guy?

[mat5x]

lol wut?

I dont control anything in the coin specifically except the source code, and have not put out any new code in months (ie we're keeping it stable as it is, warts and all). That way everyone knows the code/rules going forward. Just because I take an interest in this coin doesnt mean Im scamming. I have no power to ( in fact, anyone who has sold coins lately has probably sold some to me, so you've been cashing out on my dime.)

This just shows people _STILL_ dont understand how cryptocoins work at all. The only centralized control in ELC is four entities:

• cryptsy who could fuck with the bidding to influence the coin one way or other. Or get hacked and get coins stolen. I have no stake in cryptsy (or even contact with them).
• scryptmining.com which is a pool which could either walk away with stored coins, pay out less, or do a 30% attack (per the Stanford Cornell paper) as they hold lots of hash power, or get hacked. same for the other pool.
• middle coin which is a floating pool vs most profitable coin. same deal above - with additional hash power to throw at any coin to hashtsunami it to fuck the difficulty up so high itll be forever before it comes down.
• CoinChoose which lists relative coin difficulties/reward/profitability. He could fake any numbers he wants and many floating pools would follow it however he wanted. He could pumpcrash any coin he wants pretty easily.

(edit: in case you're really new to all this ALL coins suffer that same points above, including bitcoin.)

Do you use any of the above? If so then you are contributing to centralized authority of a distributed coin, weakening its resistance to takeover and authority. This breaks things way more than I could ever hope to.

I just happen to believe that the coin will go higher eventually, and be a good store of value for miners since the reward is constant per mining KH/s. If you don't, then sell me your coins.

So explain how it's a scam.  It's just as much a scam as people calling those who mined btc in 2011 'scammers' for being early adopters and risking their power bills for an unproven (still, as yet) idea. Standard response to people who didnt mine BTC in 2010/11 is 'cry more, noob.', amirite?