[GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT]

[orco#2]

Difficulty alogorithm sux de balls.

600 blocks too many.  Main Dev. has burnt out of crypto and stopped all work on coins, which is unfortunate.  But Sista has learned Linux well enough and the github proocol to be able to make the changes.  i have tried as well, and let me tell you that it is a nightmare.

But he is fixxing another of his project right now and will be working on GLC soon.  Will take a week or two to make sure everything is working and to decide on the optimal blocok retarget, what block to make teh changes, etc.

Any feedback from teh community on the changes is appreciated and encouraged.

Is there any other coins you use that mine like a charm and what is there block retarget, etc.

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[glasgowbry]

so global coin is dead

any chance , who-ever does the website, can they add the link to this forum to it ?

[SistaFista]

Other project is completed/updated so its full steam ahead to hard fork this bad boy, but bare with me... To start a discussion, what diff re-target would you guys like to see implemented into Global Coin?

[SistaFista]

so global coin is dead

any chance , who-ever does the website, can they add the link to this forum to it ?

Enough with the "global coin is dead" please. This is just a a minor issue that will be resolved. It does not de-value the coin, if anything it makes them more in demand as less are being mined per day. As I said above I am working on a mandatory update that will have you all smiling, hopefully......

[NastyDog]

Other project is completed/updated so its full steam ahead to hard fork this bad boy, but bare with me... To start a discussion, what diff re-target would you guys like to see implemented into Global Coin?

The diff re-target is fine where it is.  The only problem is that when it changes up or down it continues to move in the same direction long after the network hashrate has matched the new diff thus leading to the large swings.  I believe the current diff re-target is 450 and not 600 like everyone is quoting. 

Leave the block re-target where it is and just focus on the swings which I believe are due to the re target calculations taking some kind of running average of the last several diff changes.  Maybe set min and max diff changes.  If you want strong stability use a small percentage.  If you like to see it at the top of the pile on the profitability sites every so often then use a larger min and max diff change (just not as big as it is now).

After (not before) the diff swings are fixed we need to have a marketing push like some of the other coins that are far younger yet more popular and seemingly foolish by design.  Global coin is still very undervalued and should be on par with worldcoin.  As a plan I would suggest waiting a couple of months to confirm that the update sticks without any major problems as marketing the coin when it has some bugs could be very bad for the coin and everyone that holds it.

So to recap my recommendations/requests:
Fix the large diff swings.
Leave everything else alone.
Let it run stable for a couple of months.
Marketing.
Marketing.
Marketing.

[MinerMike]

Code:

static const int64 nTargetTimespan = 5 * 60 * 2 * 30;
static const int64 nTargetSpacing = 1 * 40;

5 * 60 * 2 * 30 / 40 = 450

You're correct seems 450 blocks is the actual re-target.

The problem isn't just with the swings though, it needs to re-target faster so the coin cannot be subject to "strip miners". This can only be done by reducing the block re-target or yes putting a fixed percentage limit on diff increase/decrease. Many new coins now re-target every block to help prevent strip mining. By strip mining I mean when difficulty is low large amounts of miners jump on (collective pools etc) and sell the coin straight away, then as soon as diff raises they move on leaving the rest of the network stranded with high difficulty and a long time to go for the retarget (like now ugh). Since these strip miners also sell straight away into buy orders it becomes unprofitable to mine for those left and the coin actually becomes somewhat unusable for a very long time - like right now transferring coins can take multiple hours because of the high diff and low hashrate, blocks are not being found fast enough for transactions to be timely.

Network hashrate: 8,743 Kh/s

Time since last block: 4h 5m 30s //I've seen 10+ hours

Current difficulty: 12.31608598

Est. Next difficulty: 0.08143226 in 236 blocks / 16d 12h 36m at current hashrate.

Kudos to the miners on the network at the moment  

My recommendation would be to lower the diff re-target to 10 blocks or even every block. We want to support the network having the coin actually usable, for this we need miners finding blocks on time.

p.s CHNCoin was recently revived by implementing diff re-targets every block like that of Peercoin (in November), it's network hashrate was basically 0 and the coins nontransferable, now it's chugging along at 420+ MH/s - https://bitcointalk.org/index.php?topic=322488.0

[NetCrashGER]

....................
My recommendation would be to lower the diff re-target to 10 blocks or even every block......................................

+1

any updates about the fix?

[SistaFista]

GlobalCoin developer fund

7HGqgroz38eY4xMfwUFb7BLVwUjUagykDm

I am starting a development fund so we can get GLC retargeting and pay for future projects and services. All donations will be added to the GLC donation ledger, so if you send a donation please pm me with the amount and name/allias of donator

Development on the client has started and going well. Should have a mandatory update by the end of this week/early next week.

Thanks for the ongoing support.

[pabloangello]

GlobalCoin developer fund

7HGqgroz38eY4xMfwUFb7BLVwUjUagykDm

I am starting a development fund so we can get GLC retargeting and pay for future projects and services. All donations will be added to the GLC donation ledger, so if you send a donation please pm me with the amount and name/allias of donator

Development on the client has started and going well. Should have a mandatory update by the end of this week/early next week.

Thanks for the ongoing support.

Is there block explorer to check how many will be donated?

[SistaFista]

http://searchthemall.net/glc/block_crawler.php

[orco#2]

Developer says new clients should be ready ~ end of week.  Should get the difficulty back on target, coin subsidy drops at block at 280,000 I am pretty sure, so we should have until mid April before the subsidy halves.

Go Sista go!

Fun for all!

Edit: block 280,000 for halving of subsidy, so once difficulty is fixed, coin should get there fairly quickly!


Lets do this!

[ckoeber]

....................
My recommendation would be to lower the diff re-target to 10 blocks or even every block......................................

+1

any updates about the fix?

I vote to make the re-targeting at 10 blocks; every block would just be too erratic.

Also, is there a way to make sure the difficulty doesn't jump too high or low based on a re-target? I know some coins put in a 40-50% limit on the spike or drop of the difficulty re-targeting.

[orco#2]

Good to see a turn around in price and it looks like there is very little resistance up to the $.02 range.  

IMO, once difficulty is fixed and the network is stable and reliably hashing, we are a top twenty Cryptocurrency.  

[NetCrashGER]

what is the new difficultyretarget?

[orco#2]

Not 100%. I think we are adopting the new Chinacoin/PPC model, which is dreamy...

[NastyDog]

Code:

static const int64 nTargetTimespan = 5 * 60 * 2 * 30;
static const int64 nTargetSpacing = 1 * 40;

5 * 60 * 2 * 30 / 40 = 450

You're correct seems 450 blocks is the actual re-target.

The problem isn't just with the swings though, it needs to re-target faster so the coin cannot be subject to "strip miners". This can only be done by reducing the block re-target or yes putting a fixed percentage limit on diff increase/decrease. Many new coins now re-target every block to help prevent strip mining. By strip mining I mean when difficulty is low large amounts of miners jump on (collective pools etc) and sell the coin straight away, then as soon as diff raises they move on leaving the rest of the network stranded with high difficulty and a long time to go for the retarget (like now ugh). Since these strip miners also sell straight away into buy orders it becomes unprofitable to mine for those left and the coin actually becomes somewhat unusable for a very long time - like right now transferring coins can take multiple hours because of the high diff and low hashrate, blocks are not being found fast enough for transactions to be timely.

Network hashrate: 8,743 Kh/s

Time since last block: 4h 5m 30s //I've seen 10+ hours

Current difficulty: 12.31608598

Est. Next difficulty: 0.08143226 in 236 blocks / 16d 12h 36m at current hashrate.

Kudos to the miners on the network at the moment 

My recommendation would be to lower the diff re-target to 10 blocks or even every block. We want to support the network having the coin actually usable, for this we need miners finding blocks on time.

p.s CHNCoin was recently revived by implementing diff re-targets every block like that of Peercoin (in November), it's network hashrate was basically 0 and the coins nontransferable, now it's chugging along at 420+ MH/s - https://bitcointalk.org/index.php?topic=322488.0

Thanks to everyone for supporting the coin.  This is a great community.

So far as I see it MinerMike is correct in everything he said.

As a matter of preference I prefer min/max limits rather than short re-diff changes.  I don't like them too long either but a good balance seems to be the best approach.  Either way the end result is almost the same.

As a matter of marketing/popularity/psychology I believe that having a coin occupy the top slot on the profitability charts for a short period of time every now and then is a good thing for the coin.

For the record I am not a strip miner.  I was mining Global coin at a time when I was getting all the blocks.  In other words I was the only one and the diff was high.

I will support Global Coin no matter what the decision is.  I still think it is one of the best investments and undervalued coins available.

Big thanks to everyone mining through this high diff.  Looking forward to the update.

[NetCrashGER]

no news about 2 days i have the feeling no one is working on something
i think i dump all my coins

[pabloangello]

Is here the dev of globalcoin? What is the idea behind globalcoin right now? How to improve? What to do? What is under development right now?

[NetCrashGER]

so global coin is dead

any chance , who-ever does the website, can they add the link to this forum to it ?

Enough with the "global coin is dead" please. This is just a a minor issue that will be resolved. It does not de-value the coin, if anything it makes them more in demand as less are being mined per day. As I said above I am working on a mandatory update that will have you all smiling, hopefully......

now it is dead

[ckoeber]

Is here the dev of globalcoin? What is the idea behind globalcoin right now? How to improve? What to do? What is under development right now?

Sell your coins.