[ANN] WDC WorldCoin: Announcing upcoming patch and news

[WorldCoin]

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Setting the standards for the Altcoin community

The WorldCoin Team would like to announce the details of an upcoming patch to be released in late July/early August 2013 (block 518,401). Two main issues being addressed are current inflation level and mining orphan rate.

We would like to highlight a couple items before reviewing the details.

WorldCoin currently has a fast secure transaction time of 60 seconds. This is achieved by confirming a 15-second block four consecutive times. The update maintains the 60 second security time so the speed of a complete WDC transaction will not be altered.

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season. Once the new production rate has been reached, the same volume will be produced each month until the final blocks are mined.



                Patch information

                
http://worldcoinforum.org/official/WDC_patch_announcement.pdf






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[Oldminer]

Oh yea..now we're rolling 

[BazkieBumpercar]

I'm really happy about the whole inflation patch thing

[defaced]

reserved

[seleme]

Glad you listened 

[jubalix]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

so does this mean there will be less coins in the remainder of production, or are you upping whole coin amount

this needs a  tl;dr

rather than a pdf

[sumantso]

Thats great news

[Kruncha]

Great news for worldcoin, great news for us...

...and still great news for newcomers.

K.

[BigDaddyWooWoo]

This is effen great news!  Glad I've been hoarding.  I jumped in with the right coin.

[Oldminer]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

Of course. Anyone can buy/mine WDC. Its referring to the current crypto-community as a whole.

[nerdcustoms]

Well done!  A patch was definitely needed.

[Mr.V]

well it isn't the 1minute blocks I was hoping for but 30secs is better then 15. Still good job guys thanks for improving the coin I invested in most!

[seleme]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

so does this mean there will be less coins in the remainder of production, or are you upping whole coin amount

this needs a  tl;dr

rather than a pdf

Full number of coins to be produced is same but it'd time distribution is bit different. Check the pdf.

[sprinkles]

Awesome news!

[Disastrus]

Hmmm, interesting 

[seleme]

Looks like my 75k WDC could be worth something 

[gudmunsn]

This is great news. I like how the block size decreases as time goes on so that the altcoin community won't be inundated with Worldcoin. The nice thing is that it isn't too late to become an early adopter. Right now the difficulty is still low (1. so you can still amass many of the 5.5 million coins that will be coming out for the next 5 months (since worldcoin is about 1 month old).  This gives everybody a fair shot at getting their hands on a lot of the coin, and I think it will be very important in getting it circulating through the marketplace. While I wasn't involved with LTC in the early stages, it would make sense that it was a similar situation. I'd love to hear more from people about their experiences with a young LTC. "Back in the good ol' days I could mine hundreds a day," etc

I am also a fan of the changes regarding the orphan problem; The difficulty being raise 15% every 120 blocks will certainly dissuade pool-hoppers, and will help to make the coin both more stable hashrate/difficulty wise, as well as value wise. Miners won't be dumping huge quantities mined at a low diff for 8 hours, since it will be changing often. This will serve to make the coin more viable as a currency, and less as a speculation vehicle.

I'm very excited to see what comes next for WDC.

[jubalix]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

so does this mean there will be less coins in the remainder of production, or are you upping whole coin amount

this needs a  tl;dr

rather than a pdf

Full number of coins to be produced is same but it'd time distribution is bit different. Check the pdf.

what sort of rig do i need to be able to mine

also is the new system front loading the coin so not as much motivation to mine in the long term???

[seleme]

I don't mine anything so you have to ask that someone else.. but it has to be same rig you mine any other coin, no difference.

Not sure I understand the second question.

[jubalix]

I don't mine anything so you have to ask that someone else.. but it has to be same rig you mine any other coin, no difference.

Not sure I understand the second question.

sorry KH to get a coin

[MaGNeT]

Things looking good

[yager]

Well done wdc dev team.

[aggster]

in my view this is the best altcoin by far, fast transfers and no issues syncing with wallet

[BazkieBumpercar]

what WDC needs now is an auction site

[nerdcustoms]

what WDC needs now is an auction site

If only one were in the works 

[BazkieBumpercar]

what WDC needs now is an auction site

If only one were in the works 

well that'd be splendid! but what are the odds!

[clint25n]

Sounds like most approve of the changes.

[nerdcustoms]

Sounds like most approve of the changes.

I haven't really heard anyone chime in negatively.  Should be good to go.

[Kiplingscat]

The cat says  sell the coin.  I will be buying.

[Taborresen]

Good things are happening. 

[nerdcustoms]

If anyone is interested in selling items for Worldcoin (WDC). We are offering 100% free listings for bitcointalk users. Next 50 listings only: www.worldcoincentral.com. When creating your listing use voucher code: 216164f60318

Obnoxious or troll type listings will be removed.  Please do not abuse this and there will be more giveaways in the future. 

[Praxis]

My faith in this coin keeps growing.

[nerdcustoms]

My faith in this coin keeps growing.

It's definitely coming around. I'm pretty exited to see where we go from here.

[eddyfitz]

yet price is only dropping....

[Kiplingscat]

God you people are super smart.  Dev team is in bed with Phenix and Feather and we are going to rock.

[Disastrus]

God you people are dumb.

be gone with you and your manboobs

[ISAWHIM]

The website is still directing people to the old client... v6.4 in the downloads... And the threads all point to the website to download...

Where is the updated client, and why is it not on the official website links? This is the third attempt to get the patched version, without any luck.

Focus less on image, and more on availability and coordination of your resources. Directing people to download a wallet that does not function, and does not tell you the version until after it is downloaded is self-degrading to any future expansion. Seems you have to be "in the know" to get what should be "the only source available".

If the other versions don't work, remove them, unlink them, as they are not of any value or use.

[Mr.V]

The website is still directing people to the old client... v6.4 in the downloads... And the threads all point to the website to download...

Where is the updated client, and why is it not on the official website links? This is the third attempt to get the patched version, without any luck.

Focus less on image, and more on availability and coordination of your resources. Directing people to download a wallet that does not function, and does not tell you the version until after it is downloaded is self-degrading to any future expansion. Seems you have to be "in the know" to get what should be "the only source available".

If the other versions don't work, remove them, unlink them, as they are not of any value or use.

I think the patch will be released early august

[eddyfitz]

The website is still directing people to the old client... v6.4 in the downloads... And the threads all point to the website to download...

Where is the updated client, and why is it not on the official website links? This is the third attempt to get the patched version, without any luck.

Focus less on image, and more on availability and coordination of your resources. Directing people to download a wallet that does not function, and does not tell you the version until after it is downloaded is self-degrading to any future expansion. Seems you have to be "in the know" to get what should be "the only source available".

If the other versions don't work, remove them, unlink them, as they are not of any value or use.

I think the patch will be released early august

True. people here often cannot read....

[Praxis]

God you people are dumb.

Can you elaborate?

[Kiplingscat]

World Coin is the best coin on the market.  The patch will make it even better.

[wheatrich]

CHNcoin didn't die because people stopped mining it.

edit--yeah it's really annoying that it keeps saying to upgrade it.

[muddafudda]

So you want to reduce rewards, go fuck yourself. Scamcoin is scamcoin. Go hang with gold.

[groll]

16M of the new total of 66.8M coin mine in first 3 month 20.5M in first 6Month. so only 4.1M/y each next 9.5 years.  sounds like insta-mine for 3 months then starve the market to make price higher to make money.

early adopter is not supposed to be get rich quick 30% of total in 6 month is just an extended insta mine for insider and friend. That look like we mine it it's ok, in fact to cover we get lots of coin to get rich.
you get the right problem, too much coin early, for the time to establish value. you respond with let it go some time and then nearly close the valve.

BTW your total of 265M a bottom of second column should be 66.8M + some post year 10 probably 72M or something like that or I miss 200M somewhere  


I like ALT crypto, but the scheme of get my friend rich scheme is just killing it. I'm still searching for an honest one other then litecoin (have other problem, but not this one)and it seems not much is available

p.S. insta-mine of this sort is sometimes also call starter superblock

[Vitalicus]

I think - better is to reduce the total amount, for example = 100 mln ?
So in 4 years we will have a first mature currency for using anyware

[mr_random]

16M of the new total of 66.8M coin mine in first 3 month 20.5M in first 6Month. so only 4.1M/y each next 9.5 years.  sounds like insta-mine for 3 months then starve the market to make price higher to make money.

early adopter is not supposed to be get rich quick 30% of total in 6 month is just an extended insta mine for insider and friend. That look like we mine it it's ok, in fact to cover we get lots of coin to get rich.
you get the right problem, too much coin early, for the time to establish value. you respond with let it go some time and then nearly close the valve.

BTW your total of 265M a bottom of second column should be 66.8M + some post year 10 probably 72M or something like that or I miss 200M somewhere  


I like ALT crypto, but the scheme of get my friend rich scheme is just killing it. I'm still searching for an honest one other then litecoin (have other problem, but not this one)and it seems not much is available

p.S. insta-mine of this sort is sometimes also call starter superblock

3 month insta-mine  Do you know what 'insta' stands for?

[groll]

[

3 month insta-mine  Do you know what 'insta' stands for?

yes at the moment, so now you mine a bit and get lots of coins(can get 70-80 coins per day with  only 150kh/s) , in 5 month it will be 12 times less coin rewards.

yes I agree insta is not exactly the word but you get the idea(can be super fast mine  ). just don't put another word for same thing. Some try to get it with superblock, can be dump most coins to friend and miner of the start. all is the same scheme of get to some early miner a lots of coins at start and try to get the coins value a bit up to make tons of money. coins dev seesm imaginative on the way to get the same thing in different way, but not on how to really make it adopted.

in fact in 5 month it will be the price is up by 10 fold or the coins is dead because not profitable and hash rate is very low.



the biggest weekness of crypto currency is how to spread them, all going to miner is the problem of proof of work and other like ripple have no easy fair distribution scheme available also.   


adoption and distribution are 2 things and early distribution of most of the coin is bad without adoption!

[Kiplingscat]

So you want to reduce rewards, go fuck yourself. Scamcoin is scamcoin. Go hang with gold.

memecoin, lol.  Yur dumb

[Kiplingscat]

16M of the new total of 66.8M coin mine in first 3 month 20.5M in first 6Month. so only 4.1M/y each next 9.5 years.  sounds like insta-mine for 3 months then starve the market to make price higher to make money.

early adopter is not supposed to be get rich quick 30% of total in 6 month is just an extended insta mine for insider and friend. That look like we mine it it's ok, in fact to cover we get lots of coin to get rich.
you get the right problem, too much coin early, for the time to establish value. you respond with let it go some time and then nearly close the valve.

BTW your total of 265M a bottom of second column should be 66.8M + some post year 10 probably 72M or something like that or I miss 200M somewhere  


I like ALT crypto, but the scheme of get my friend rich scheme is just killing it. I'm still searching for an honest one other then litecoin (have other problem, but not this one)and it seems not much is available

p.S. insta-mine of this sort is sometimes also call starter superblock

Hey moron, The currency is about utility not the mining of the currency. get over it.  The sector is years old and this will be one of the ones standing in 5 years with no one remembering the patch of Aug. 2013.  you are so short sighted.

[Kiplingscat]

[

3 month insta-mine  Do you know what 'insta' stands for?

the biggest weekness of crypto currency is how to spread them, all going to miner is the problem of proof of work and other like ripple have no easy fair distribution scheme available also.   

God you are a child.

[Kiplingscat]

Worldcoin is fast, secure, early onto market, and well branded.  End of story.

It is a top tier coin in a sea of bbqcoin, memecoin, and other ridiculous bs.

[joinmicah]

WOW This is Awesome The Partnership Worldcoin, Feathercoin and Phoenixcoin have put together is incredible!