[ANN] [QRK] Quark | Core 0.10 upgrade

[mcphervi]

         - Inflation change from 0.5%/annum, infinite supply to 3-3.5% per annum. This preserves the original intent of a switch to low inflation following an original mining period, with a constant supply into the future to preserve mining incentive indefinitely
         - Using the 3.5% figure, have a split of 1.35% POS, 1.85% POW, 0.3% Development
         - Have the development funding placement into escrow or multisig requiring address

4-10 months:
         - Engage developers to look at implementing a sidechain with anon features - this allows an anonymity solution while ensuring that there is a public transaction record for Quark proper to ensure transparency
                         - Have a deflationary charge built into the system when taking the coins off chain - ie. remove a small subset (maybe 0.1% of the sent coins from circulation when taking chains onto the side chain)
                                    - This offsets some of the additional inflation being built in by the increase in coin supply as per above

I am a private investor in China.

Since 2013, I began to support the quark COINS, because the Chinese government, digital currency prices began to decline, but did not see the rebound in the quarks, I don't know why, but I know now.

It is a pleasure and a great appreciation to have seen all the positive action recently.

The key I want to say is: everyone knows that quark on an extra 1 million a year, you can upgrade innovation, add people feel great science and technology, but don't increase the total amount.

The first、 Why we watch the digital currency is that it won't print as much as they want to print like paper, and if We're going to change it to 7-8 million because the market price is low this time , the next time change to 10-20 million - when you like, What's the difference between it and paper money？ If you do that, many Chinese investors will see this currency as a game, not a future.

The second、Let's say 10 years from now  BTC is a trillion dollars and quark successfully raised hundred billion of magnitude or more, according to 3.5% a year, will be at a certain price point, the market can't afford this 3.5%  causes the price no longer growth , or even fall. So you can expect the price of a currency to go down in a certain amount of time, and people also lose coin because of 0.1% rules，This is terrible.

My suggestion is that we can reduce the setting of one quark per block, for example 0.1 to 0.3 quarks or other quantities. When the price is high enough, there will be more and more people digging.

Really reduce miners, is not the amount of 1 million is too little, but for some reason did not move over the past two years, when we started running again, prices will rebound, at that time, people will come back.

And Now we don't need too much innovation, in a bull market, all COINS in btc38 have increased nearly 10 times, only the quark did not move, just need to the development team to release some news, is enough to make the price more than 5 times. It is an opportunity.

I'll do a little bit of help if I can.

Hi ghzsymc2 - I am very happy to see one of Quark's Chinese investors join the conversation - historically it was very hard to know how the coin was being perceived and discussed in China. Your input is very much appreciated.

I historically completely agreed with you - however, we have 4 years of data which indicates that the current 0.5% inflation is simply not adequate to secure the network, as the miners are not being paid enough to support a hashrate that can properly secure the network and prevent it from being very vulnerable to 51% attack. This is made worse if we switch to a hybrid POS/POW system is we do not increase the inflation, as the 0.5% would have to been split between the two systems - POW (miners) and POS (stakers/masternodes), making each that much less profitable, and thus that much less appealing to both parties. The current situation is the result of us not taking action when we as a community realized this was going to be the truth. This drove away a lot of the external broader bitcoin community because they didn't trust the coins future health.

Currently, there are 2,880 new Quark per day - at the current market rate, this is $14.4 per day being paid to miners to secure the network. This is getting us approx a little over 500 Mhash (https://bitinfocharts.com/comparison/quarkcoin-hashrate.html). There are people on this forum with more hashrate than this in a single mining farm (https://bitcointalk.org/index.php?topic=65803.0), meaning the network is vulnerable. Even a 10-fold increase in value only gives the miners $144/day, which is likewise far too low to adequately secure the network.

The other thing is that the coin needs development funding - we have also seen where the lack of development funding has led us - to the lack of development for years at a time, while coins like Dash has persisted and are self-supporting by virtue of the fact that they essentially have a continuous eternal source of development capital to reinvest.

On your point about continual changes when things get difficult - I **completely** agree that we cannot do this again. This is why we need to get it right this time, right now. I agree that it fundamentally undermines the investor confidence through creating uncertainty in what the underlying fundamentals of your investment is if it changes. However, this I believe is a situation that really requires fundamental change - while honoring the original ideals as I tried to address in the quoted post.

We are committed to restoring Quark to what it should have been - this is a fresh start for a coin that was once great and I really truly believe that we can get it moving towards regaining its status as a premium coin. The community and the investors deserve this and its been too long coming.

[cryptohunter]

Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.

Anyway we may need a coin swap so that may cut back the quark supply drastically.

We need some coins for dev funding and paying masternodes/pos

Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.

[mcphervi]

Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.

Anyway we may need a coin swap so that may cut back the quark supply drastically.

We need some coins for dev funding and paying masternodes/pos

Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.

To this point, I'd be unsurprised if the effective coin supply is much less than 250,000,000 at this point with cryptsy closing.

[cryptohunter]

Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.

Anyway we may need a coin swap so that may cut back the quark supply drastically.

We need some coins for dev funding and paying masternodes/pos

Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.

To this point, I'd be unsurprised if the effective coin supply is much less than 250,000,000 at this point with cryptsy closing.

i notice a lot of wallets were recovered from there...wonder about the qrk wallet and how much is in it. Someone must know.

[mcphervi]

Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.

Anyway we may need a coin swap so that may cut back the quark supply drastically.

We need some coins for dev funding and paying masternodes/pos

Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.

To this point, I'd be unsurprised if the effective coin supply is much less than 250,000,000 at this point with cryptsy closing.

i notice a lot of wallets were recovered from there...wonder about the qrk wallet and how much is in it. Someone must know.

Hmm interesting. Its a good question I'm not certain of the answer to.

[cryptohunter]

Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.

Anyway we may need a coin swap so that may cut back the quark supply drastically.

We need some coins for dev funding and paying masternodes/pos

Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.

To this point, I'd be unsurprised if the effective coin supply is much less than 250,000,000 at this point with cryptsy closing.

i notice a lot of wallets were recovered from there...wonder about the qrk wallet and how much is in it. Someone must know.

Hmm interesting. Its a good question I'm not certain of the answer to.

well if there is a coinswap that needs to be isolated and blocked....cant swap stolen coins.

[mcphervi]

Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.

Anyway we may need a coin swap so that may cut back the quark supply drastically.

We need some coins for dev funding and paying masternodes/pos

Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.

To this point, I'd be unsurprised if the effective coin supply is much less than 250,000,000 at this point with cryptsy closing.

i notice a lot of wallets were recovered from there...wonder about the qrk wallet and how much is in it. Someone must know.

Hmm interesting. Its a good question I'm not certain of the answer to.

well if there is a coinswap that needs to be isolated and blocked....cant swap stolen coins.

Wholeheartedly agree.

[thunderjet]

Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.

Anyway we may need a coin swap so that may cut back the quark supply drastically.

We need some coins for dev funding and paying masternodes/pos

Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.

To this point, I'd be unsurprised if the effective coin supply is much less than 250,000,000 at this point with cryptsy closing.

i notice a lot of wallets were recovered from there...wonder about the qrk wallet and how much is in it. Someone must know.

Hmm interesting. Its a good question I'm not certain of the answer to.

7,527,236.00 Quarks were recovered from Cryptsy wallet. You can find this info (and for other coins too) in this document on pages 19 and 20:

http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/CCF_000148.pdf

[ghzsymc2]

         - Inflation change from 0.5%/annum, infinite supply to 3-3.5% per annum. This preserves the original intent of a switch to low inflation following an original mining period, with a constant supply into the future to preserve mining incentive indefinitely
         - Using the 3.5% figure, have a split of 1.35% POS, 1.85% POW, 0.3% Development
         - Have the development funding placement into escrow or multisig requiring address

4-10 months:
         - Engage developers to look at implementing a sidechain with anon features - this allows an anonymity solution while ensuring that there is a public transaction record for Quark proper to ensure transparency
                         - Have a deflationary charge built into the system when taking the coins off chain - ie. remove a small subset (maybe 0.1% of the sent coins from circulation when taking chains onto the side chain)
                                    - This offsets some of the additional inflation being built in by the increase in coin supply as per above

I am a private investor in China.

Since 2013, I began to support the quark COINS, because the Chinese government, digital currency prices began to decline, but did not see the rebound in the quarks, I don't know why, but I know now.

It is a pleasure and a great appreciation to have seen all the positive action recently.

The key I want to say is: everyone knows that quark on an extra 1 million a year, you can upgrade innovation, add people feel great science and technology, but don't increase the total amount.

The first、 Why we watch the digital currency is that it won't print as much as they want to print like paper, and if We're going to change it to 7-8 million because the market price is low this time , the next time change to 10-20 million - when you like, What's the difference between it and paper money？ If you do that, many Chinese investors will see this currency as a game, not a future.

The second、Let's say 10 years from now  BTC is a trillion dollars and quark successfully raised hundred billion of magnitude or more, according to 3.5% a year, will be at a certain price point, the market can't afford this 3.5%  causes the price no longer growth , or even fall. So you can expect the price of a currency to go down in a certain amount of time, and people also lose coin because of 0.1% rules，This is terrible.

My suggestion is that we can reduce the setting of one quark per block, for example 0.1 to 0.3 quarks or other quantities. When the price is high enough, there will be more and more people digging.

Really reduce miners, is not the amount of 1 million is too little, but for some reason did not move over the past two years, when we started running again, prices will rebound, at that time, people will come back.

And Now we don't need too much innovation, in a bull market, all COINS in btc38 have increased nearly 10 times, only the quark did not move, just need to the development team to release some news, is enough to make the price more than 5 times. It is an opportunity.

I'll do a little bit of help if I can.

Hi ghzsymc2 - I am very happy to see one of Quark's Chinese investors join the conversation - historically it was very hard to know how the coin was being perceived and discussed in China. Your input is very much appreciated.

I historically completely agreed with you - however, we have 4 years of data which indicates that the current 0.5% inflation is simply not adequate to secure the network, as the miners are not being paid enough to support a hashrate that can properly secure the network and prevent it from being very vulnerable to 51% attack. This is made worse if we switch to a hybrid POS/POW system is we do not increase the inflation, as the 0.5% would have to been split between the two systems - POW (miners) and POS (stakers/masternodes), making each that much less profitable, and thus that much less appealing to both parties. The current situation is the result of us not taking action when we as a community realized this was going to be the truth. This drove away a lot of the external broader bitcoin community because they didn't trust the coins future health.

Currently, there are 2,880 new Quark per day - at the current market rate, this is $14.4 per day being paid to miners to secure the network. This is getting us approx a little over 500 Mhash (https://bitinfocharts.com/comparison/quarkcoin-hashrate.html). There are people on this forum with more hashrate than this in a single mining farm (https://bitcointalk.org/index.php?topic=65803.0), meaning the network is vulnerable. Even a 10-fold increase in value only gives the miners $144/day, which is likewise far too low to adequately secure the network.

The other thing is that the coin needs development funding - we have also seen where the lack of development funding has led us - to the lack of development for years at a time, while coins like Dash has persisted and are self-supporting by virtue of the fact that they essentially have a continuous eternal source of development capital to reinvest.

On your point about continual changes when things get difficult - I **completely** agree that we cannot do this again. This is why we need to get it right this time, right now. I agree that it fundamentally undermines the investor confidence through creating uncertainty in what the underlying fundamentals of your investment is if it changes. However, this I believe is a situation that really requires fundamental change - while honoring the original ideals as I tried to address in the quoted post.

We are committed to restoring Quark to what it should have been - this is a fresh start for a coin that was once great and I really truly believe that we can get it moving towards regaining its status as a premium coin. The community and the investors deserve this and its been too long coming.

still
Thank you very much, because you, the quarks are moving again.

I discussed the following in the Chinese support group

Pow/pos is good

Only when the price is high can you be motivated to dig a mine, and the price has gone up a hundred times, not even to the dollar. If the quarks do well again, they will be up to a thousand times higher, then the price will be enough to make the network stable.

Is the main reason of the low price have no news of the development team over the past two years, and when we act, we will come back, I can do some propaganda work.

Increasing supply is unfair to the owners of the old currency

The easy change in total means centralization

3.5 per cent will weaken the value of the quarks in the future

Think about what's going to keep us believing in quarks when prices drop by more than 100 times.

We can learn their good patterns, but not necessarily the total amount. Doing some good promotion, upgrading, we will see more and more people coming to the community.

I'm just going to give you some advice,
Ultimately, it's up to the quarks team to make a decision. And we will accept that it will only change the end goal.

I love Quark

[silvermetal]

Thank you my friend.

Yes? DI is your friend? Ok I got the full picture I guess.
Sorry guys this is too easy! You are creative people, maybe think of another role for DI than a big Chinese Quark investor  

[silvermetal]

Thank you my friend.

Yes? DI is your friend? Ok I got the full picture I guess.
Sorry guys this is too easy! You are creative people, maybe think of another role for DI than a big Chinese Quark investor  

That"s funny. I am totally transparent with who I am, my name is Craig Pond and I live in New Zealand. I am the father of 4 beautiful children and I have exceptionally, absolutely, beautiful wife of who I am in love with dearly.

I would not do wrong. Please ask me of who I am my friend before you do what you are currently doing.    

Aha, and you have no idea who DI is?

Edit 1. Please stop calling me a friend, because it is obvious you don't feel it that way

[p3ppymon]

We are all friends, aren't we?

[silvermetal]

Thank you my friend.

Yes? DI is your friend? Ok I got the full picture I guess.
Sorry guys this is too easy! You are creative people, maybe think of another role for DI than a big Chinese Quark investor  

That"s funny. I am totally transparent with who I am, my name is Craig Pond and I live in New Zealand. I am the father of 4 beautiful children and I have exceptionally, absolutely, beautiful wife of who I am in love with dearly.

I would not do wrong. Please ask me of who I am my friend before you do what you are currently doing.    

Aha, and you have no idea who DI is?

Edit 1. Please stop calling me a friend, because it is obvious you don't feel it that way

I love you man.

Lol, ok sorry for the interruption
Proceed with your play.
I just made some more popcorn.

Cheers!

[cryptohunter]

Thank you my friend.

Yes? DI is your friend? Ok I got the full picture I guess.
Sorry guys this is too easy! You are creative people, maybe think of another role for DI than a big Chinese Quark investor  

That"s funny. I am totally transparent with who I am, my name is Craig Pond and I live in New Zealand. I am the father of 4 beautiful children and I have exceptionally, absolutely, beautiful wife of who I am in love with dearly.

I would not do wrong. Please ask me of who I am my friend before you do what you are currently doing.    

Aha, and you have no idea who DI is?

Edit 1. Please stop calling me a friend, because it is obvious you don't feel it that way

I love you man.

Lol, ok sorry for the interruption
Proceed with your play.
I just made some more popcorn.

Cheers!

If you have an issue with max or DI that is fine but no need to try and troll the entire thread. There are far more real honest quark miners and investors that those 2 people.

I know vic is honest and told me already he will refuse to work with DI if he comes back. I originally though DI was okay years ago since he seems to be very active for quark and helped advertise it a lot. However I was sad to see he seemed to turn negative on quark and even seemed to try to crush the project in the end. Of course he will not be welcome back.

I totally advocate highlighting wrong doing but those here discussing rebuilding and doing something with quark have done nothing wrong so you are trolling the wrong people. If anything we are the victims of these games not the culprits.

Why not be constructive and aid the rebuilding of this project. This time we must not be at the mercy of a single point of failure.

[silvermetal]

Thank you my friend.

Yes? DI is your friend? Ok I got the full picture I guess.
Sorry guys this is too easy! You are creative people, maybe think of another role for DI than a big Chinese Quark investor  

That"s funny. I am totally transparent with who I am, my name is Craig Pond and I live in New Zealand. I am the father of 4 beautiful children and I have exceptionally, absolutely, beautiful wife of who I am in love with dearly.

I would not do wrong. Please ask me of who I am my friend before you do what you are currently doing.    

Aha, and you have no idea who DI is?

Edit 1. Please stop calling me a friend, because it is obvious you don't feel it that way

I love you man.

Lol, ok sorry for the interruption
Proceed with your play.
I just made some more popcorn.

Cheers!

If you have an issue with max or DI that is fine but no need to try and troll the entire thread. There are far more real honest quark miners and investors that those 2 people.

I know vic is honest and told me already he will refuse to work with DI if he comes back. I originally though DI was okay years ago since he seems to be very active for quark and helped advertise it a lot. However I was sad to see he seemed to turn negative on quark and even seemed to try to crush the project in the end. Of course he will not be welcome back.

I totally advocate highlighting wrong doing but those here discussing rebuilding and doing something with quark have done nothing wrong so you are trolling the wrong people. If anything we are the victims of these games not the culprits.

Why not be constructive and aid the rebuilding of this project. This time we must not be at the mercy of a single point of failure.

Sure sure
I already apologized, didn't I?
I will be quiet (or at least try to be)....

Where were we...Oh I remember
ghzsmymc2 is not DI but a honest big Chinese Quark investor and doesn't want more Quark supply.

Continue with the Quark revival!



 

[othell_rogue]

7,527,236.00 Quarks were recovered from Cryptsy wallet. You can find this info (and for other coins too) in this document on pages 19 and 20:

http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/CCF_000148.pdf

This is awsome!

[cryptohunter]

Thank you my friend.

Yes? DI is your friend? Ok I got the full picture I guess.
Sorry guys this is too easy! You are creative people, maybe think of another role for DI than a big Chinese Quark investor  

That"s funny. I am totally transparent with who I am, my name is Craig Pond and I live in New Zealand. I am the father of 4 beautiful children and I have exceptionally, absolutely, beautiful wife of who I am in love with dearly.

I would not do wrong. Please ask me of who I am my friend before you do what you are currently doing.    

Aha, and you have no idea who DI is?

Edit 1. Please stop calling me a friend, because it is obvious you don't feel it that way

I love you man.

Lol, ok sorry for the interruption
Proceed with your play.
I just made some more popcorn.

Cheers!

If you have an issue with max or DI that is fine but no need to try and troll the entire thread. There are far more real honest quark miners and investors that those 2 people.

I know vic is honest and told me already he will refuse to work with DI if he comes back. I originally though DI was okay years ago since he seems to be very active for quark and helped advertise it a lot. However I was sad to see he seemed to turn negative on quark and even seemed to try to crush the project in the end. Of course he will not be welcome back.

I totally advocate highlighting wrong doing but those here discussing rebuilding and doing something with quark have done nothing wrong so you are trolling the wrong people. If anything we are the victims of these games not the culprits.

Why not be constructive and aid the rebuilding of this project. This time we must not be at the mercy of a single point of failure.

Sure sure
I already apologized, didn't I?
I will be quiet (or at least try to be)....

Where were we...Oh I remember
ghzsmymc2 is not DI but a honest big Chinese Quark investor and doesn't want more Quark supply.

Continue with the Quark revival!



 

Well I am not saying be quiet. You seem to have a lot of interesting information and have obviously been here quite a while. Why not join quark it still costs basically nothing.

I am simply saying sure if you find evidence of any wrong doing or shady things from now on point them out at once. I don;t want to waste any time on a project if we are going to get screwed over again.

Quark needs all the honest members it can find to join the community.


Don't just accuse or speculate though without some kind of corroborating evidence. I dont know how you can say this guy is DI straight away?
Besides asking for a quark revamp and lots of development without some inflation is unreasonable. You inflate 6% a year and from that build 1000% more interest and adoption where is the issue. The inflation can be altered as we all see fit once we have decentralised governance.

Let's give quark a chance. but sure you see any thing shady from now on  then make sure to point it out at once.

[p3ppymon]

@OP

I upgraded the wallet and it stopped mining.
Please help.

[ghzsymc2]

Thank you my friend.

Yes? DI is your friend? Ok I got the full picture I guess.
Sorry guys this is too easy! You are creative people, maybe think of another role for DI than a big Chinese Quark investor  

Although the expression is different, I believe you love quarks and hope that the quarks will succeed. Otherwise, you won't waste so much energy on this post for years.

The past is past, although I don't know what happened.

It is more important now and in the future to get together again.

I hope we can work together to meet this difficult challenge.

[p3ppymon]

@OP

I upgraded the wallet and it stopped mining.
Please help.

Problem solved as before, as below!

I have upgraded the wallets (v0.10.4.2 64 bit).  
I have just noticed that I have found a block from the pop out window. However, the available and pending balance are still 0!
Any reason?

I haven't seen this myself. Make sure the blockchain is downloaded before starting mining. Maybe you can post an extract from your debug.log when this happens again.

The blockchain is up-to-date.
Extract from debug.log attached.

Sorry if it is a wall, I can edit

2017-04-20 17:21:46 Running QuarkMiner with 1 transactions in block (182 bytes)
2017-04-20 17:22:32 UpdateTip: new best=0000000058b91f768b1747e7bac45e9c4729c2d505bf353a6c9c3e2be81ee30f  height=4223163  log2_work=55.798531  tx=5042753  date=2017-04-20 17:22:13 progress=0.999999  cache=97
2017-04-20 17:22:34 CreateNewBlock(): total size 1000
2017-04-20 17:22:34 Running QuarkMiner with 1 transactions in block (182 bytes)

Nothing in the log extract to indicate that it found a block. It will log "proof-of-work found" if it found a block. I will try to see if I can get the same to happen, on which OS are you running?

Windows 7 Enterprise 64 bit.

This is what I have found earlier. Wallet balance = 0

Looks like you were mining on an invalid chain. Sometimes when the wallet says its synchronized it still needs a few minutes to get in sync. I'll see if I can find the source of this issue.

Instead, I cannot mine on my other PC. Error message:

2017-04-20 21:26:50 Error in QuarkMiner: Keypool ran out, please call keypoolrefill before restarting the mining thread

OS: Windows 10 Home

How can I solve this issue?
Thanks

Is your wallet locked? Try mining with the wallet unlocked and/or try using the "keypoolrefill" command in your debug window.

keypoolrefill requires unlocking the wallet.
I have unlocked the wallet and thus keypoolrefill. It is mining now! Thanks.
Hopefully won't have the same issues as per the other wallet.