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Author Topic: [ANN] [SPOT] | SUCCESSFUL FORK COMPLETE - On CoinPayments.net/Cryptsy/Coins-e  (Read 166014 times)
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niceman
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January 29, 2014, 03:49:44 PM
 #1401

Difficulty will be adjusted more constantly.
Now it changes to 1.5, for example, and much peoples begin to mine it, and when it changes to 20 instantly.
So miners switch to another coin. And next blocks with difficulty 20 can be found after several hours later.

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iGotSpots (OP)
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January 30, 2014, 03:59:35 AM
 #1402

Still need a LOT of pools to update or I fear this fork is going to go real shitty

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January 30, 2014, 05:59:01 AM
 #1403

Still need a LOT of pools to update or I fear this fork is going to go real shitty

Contacted a few pools.
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January 30, 2014, 08:57:01 AM
 #1404

spots.cryptcoins.net  Now update to new client v 1.1.

- Proportional Payout per block with 2% reward off the top for worker that finds the block
-Vardiff stratum
-1% fee.
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January 30, 2014, 12:44:22 PM
 #1405

Still need a LOT of pools to update or I fear this fork is going to go real shitty

Contacted a few pools.

Thanks a lot. I appreciate that

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January 30, 2014, 12:44:33 PM
 #1406

spots.cryptcoins.net  Now update to new client v 1.1.

- Proportional Payout per block with 2% reward off the top for worker that finds the block
-Vardiff stratum
-1% fee.


Awesome, thanks. Updated

Mining Pools (10 Active Pools)
Green confirmed updated to 1.1 -Grey unconfirmed

Featured Spots Pool for February - Updated to 1.1
http://spotspool.chriskoeber.com
0% fees; Prop payouts; stratum mining


Spots Pool - Updated to 1.1
http://www.coinmine.pw/poolinfo.php?coinid=12


Spots Pool - Updated to 1.1
http://spots.cryptcoins.net
- Proportional Payout per block with 2% reward off the top for worker that finds the block
-Vardiff stratum
-1% fee.



Spots Pool
Pool Thread: https://bitcointalk.org/index.php?topic=383981
http://spt.dedicatedpool.com


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sptpool.digsys.bg
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http://pool.trademybit.com/pools/SPT


Spots Pool
http://spots.nenado.org


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January 30, 2014, 03:07:09 PM
 #1407

Not that you will fork again in the near future, but this sounds like the solution to the problem of the coin stalling.  If after the fork the problem remains, it would be worth looking at Kimoto's Gravity Well.

Quote
The dev will have have a saying on that since we dont have access but very well pointed out  "Credit given to sdpenaloza" from reddit.com  for the posting down below

Here is some information on the Kimoto's Gravity Well - from megacoin forums

Source: https://forum.megacoin.co.nz/index.php?topic=893.0

The Newbie's Guide to the Kimoto Gravity Well

Many of you may have heard of Kimoto's Gravity Well and that it is supposedly a major part of what makes Megacoin unique from other cryptocurrencies. However, many of you may also not know what exactly it is and what makes it so special. If that is the case, then this guide is for you.

What Is a Mining Difficulty Readjustment Algorithm, Anyway? To understand what the Gravity Well algorithm is and what it does, you first need to understand what a "mining difficulty readjustment algorithm" is and why is it important for all current cryptocurrencies based off of the original Bitcoin source code. First, let's pull a few important definitions from the Bitcoin wiki:

Difficulty Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be.

Difficulty Readjustment (for Bitcoin) The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find.

So basically, the "difficulty" of a coin determines how hard it is for miners to find and mint blocks of that coin. The more miners there are mining a coin, the faster blocks will be found and at the end of this difficulty readjustment period (approximately every two weeks for Bitcoin), the difficulty will change accordingly so that the number of coins minted will follow the intended distribution curve. This has worked well for Bitcoin (so far) because of it's extremely slow adoption rate in the early days and now because of the sheer number of miners on the network. However, this method of difficulty readjustment is flawed for new altcoins entering the market today for a number of reasons which I will discuss below.

The History of the Gravity Well Mining Difficulty Readjustment Algorithm When Megacoin first launched, it used a more traditional difficulty readjustment algorithm based off of Bitcoin's original proposal. (Author's note: I have forgotten what the original implementation was for Megacoin, but if anyone knows the details please let me know so I can put that here for perspective and history's sake.) By this time, some SHA-256 coins had already felt the pain of difficulty readjustment problems due to the influx of ASIC miners and an activity known as "pool-hopping".

If you are familiar with cryptocurrency mining at all, you may already know that in most cases, solo mining is usually impossible without extremely powerful hardware due to the large number of people now aware of cryptocurrencies and willing to mine for them. Most miners mine through pools, which provide proportional payouts of coins based on the amount of hashing power you provide to the network. This mitigates some of the risk of mining in that you receive a steady stream of coins based on your network hashing rate, so even small-time miners can still earn their share of the pie. However, as pool mining became more popular and more altcoins arrived on the market, services known as "multipools" began to appear. These were special pools that allowed miners to automatically switch to the "most profitable" coin to mine based on the current exchange rates. However, these new multipools introduced some new problems to the cryptocurrency landscape, one of those being major difficulty readjustment woes.

As Megacoin began to rise in price several months after its inception, it started to become a target for these multipools. What happens when this occurs is that suddenly the Megacoin network gets barraged by an influx of new (and very powerful) miners. This causes the block confirmation time to plummet and subsequently causes the difficulty to skyrocket at the next difficulty readjustment. When this occurs, the mining profitability also drops due to the higher difficulty which then in turn causes all of the multipool miners to leave the network in search of the next most profitable coin. What remains is an extremely high difficulty and only the "core" group of Megacoin miners left to deal with the aftermath. In extreme cases, the difficulty may be so high in proportion to the number of miners left that the entire network grinds to a halt. This has happened in the past to Terracoin and Feathercoin, among others. The only solution if this occurs is to hard fork the coin in an attempt to readjust the difficulty (or change the difficulty readjustment algorithm) or simply grind out the mining at an extremely slow pace (during which time the coin is basically unusable) until enough blocks are found to make it to the next difficulty readjustment. The more blocks required until the next difficulty readjustment, the longer this period of unusability will be, and in some cases could mean the death of the coin completely unless drastic measures are taken.

When this happened to Megacoin, Kimoto decided to come up with a better way to perform difficulty readjustment, and the result is the Kimoto Gravity Well (which is now also used as the difficulty readjustment algorithm for Anoncoin as well after it met a similar fate as that described above). And thus, we have the Megacoin we know and love today. Next I will discuss what exactly the Gravity Well does and how it works to keep mining stable and fair for all Megacoin miners and users.

Gravity Well: Explained Now that you know how the Gravity Well came to be, let's take a look at what exactly it does and how it works. At the most basic level, Kimoto has changed how difficulty readjustment works so that the difficulty is adjusted after every single block that is mined on the network. I'm not 100% sure about the exact mathematics behind the calculations, but so far since its introduction on the network the difficulty has adjusted smoothly and flawlessly no matter how many miners there are on the network and even throughout the huge price (and subsequent mining hash rate) increase we have seen over the past couple of weeks. This keeps mining fair and secure for all miners and users of the coin, and prevents the rampant multipool abuse that was (and still is) common with most all other altcoins out on the market today. This is even more important to consider when one day ASIC miners are developed for Scrypt coins and a small number of miners will suddenly have access to extremely powerful mining hardware. If and when this occurs, a malicious (or simply greedy) miner can simply point his or her ASIC miner at any Scrypt-based coin and cripple it because of the extreme difficulty fluctuation this will cause. (This is actually what happened with Terracoin after SHA-256 ASICS began to flood the market.) Megacoin, however, will be safe from this type of malicious mining behavior due to the smooth difficulty readjustment that Kimoto's Gravity Well provides.
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January 31, 2014, 09:02:28 AM
 #1408

386 blocks to go
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February 01, 2014, 02:34:48 PM
 #1409

290 blocks left!

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February 01, 2014, 03:08:27 PM
 #1410

Yep, we are getting close. I just hope everyone is updated...

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February 01, 2014, 04:54:24 PM
 #1411

Yep, we are getting close. I just hope everyone is updated...

I sure hope so,

What would happen with unconfirmed coins if update hits and pool is not updated?

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February 01, 2014, 04:55:56 PM
 #1412

Yep, we are getting close. I just hope everyone is updated...

I sure hope so,

What would happen with unconfirmed coins if update hits and pool is not updated?

Anything mined on a pool or client that isn't updated will be on the old fork. Which means that anything gained after Block 79,000 will only be able to be traded to and spent with other people that didn't update

I suggest moving to the green pools. Those are confirmed as updated, and will be on the same fork as Cryptsy, Coins-e, and anywhere else Spots are used

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February 01, 2014, 10:16:58 PM
 #1413

I started mining this in hope to get some low dif. But instead of dropping below 1 after i found a block it jumped to 20. At this rate it will never hit block 79000.
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February 01, 2014, 10:18:11 PM
 #1414

I started mining this in hope to get some low dif. But instead of dropping below 1 after i found a block it jumped to 20. At this rate it will never hit block 79000.

Thats just not true...

Its slow but we are not that far away from the fork

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February 01, 2014, 10:24:25 PM
 #1415

Time to find a block jumped from 1,3h to 7 h. So do the math. With 80 Mhas dif should be way lower (was 20 when i joined). Right now i would mine with a loss (due to electricity cost). Something isnt quiet right i guess. Why the rise in difficulty? I will mine something else until this gets sorted out. i can risk some low income, but not an straight loss.
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February 01, 2014, 10:26:11 PM
 #1416

Time to find a block jumped from 1,3h to 7 h. So do the math. With 80 Mhas dif should be way lower (was 20 when i joined). Right now i would mine with a loss (due to electricity cost). Something isnt quiet right i guess. Why the rise in difficulty? I will mine something else until this gets sorted out. i can risk some low income, but not an straight loss.

There's over 70 pages, the last 10 of which explain what is happening. I assume with 6 posts you are new, but a suggestion....you should read before you post

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February 01, 2014, 10:34:57 PM
 #1417

Ok you are right. I read it. but still this is going to be though to get trough. People (like me) will come mine and go before reading all the pages. A few hardcore miners will stay and pay the price for everyone else. Dosnt sound ok to me.
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February 01, 2014, 10:36:30 PM
 #1418

Ok you are right. I read it. but still this is going to be though to get trough. People (like me) will come mine and go before reading all the pages. A few hardcore miners will stay and pay the price for everyone else. Dosnt sound ok to me.

Ok, next time we will update and fork it THAT day so all of you lose your coins trying to transfer them on an old chain. Does that sound better?

It's the multipools spiking it. Blame them, the coin worked fine for months before they came along

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February 01, 2014, 10:41:00 PM
 #1419

Dont get me wrong there is no right way. Whatever you do someone gets burned. Im just stating an opinion, nothing more (i dont intend to criticize). But you will need a lot of time to get to the target block.
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February 01, 2014, 10:48:24 PM
 #1420

Dont get me wrong there is no right way. Whatever you do someone gets burned. Im just stating an opinion, nothing more (i dont intend to criticize). But you will need a lot of time to get to the target block.

The point is to allow people to update. It is taking long, but again, multipools hit it so that sucks

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