[ANN] New Client (6.4.9) for PhenixCoin PXC **Difficulty Fix **

[JohnCar]

Just a quick update there is a new client for PXC PhenixCoin You can get the new client here. http://phenixcoin.com/


   - Block Target is 50 seconds
    -Block reward halfed every 840k blocks
    -168 million total coins
    -50 coins per block
    -Difficulty changes every 108 blocks
    -max 80% up / down
** PLEASE UPDATE YOUR CLIENTS BEFORE BLOCK 69444 **

 Thanks
   John

[captainfuture]

can u say me the old specs ?

[apbyte]

They reduced Block target by 2x and "difficulty changes every" by ~5x

[MaGNeT]

can u say me the old specs ?

Original specs are:

Block Target is 1.5 minutes
Block reward halfed every 840k blocks
168 million total coins
50 coins per block
Difficulty changes every 600 blocks (was 2400) - max 80% up / down

To be safe: make a back-up of your wallet.dat on a regular base and before updating clients! That goes for every coin

In Windows, for PhenixCoin, you can find your wallet.dat in the following folder: C:\Users\username\AppData\Roaming\Phenixcoin

[forsetifox]

So you increased the coin generation rate by 80% and played with the difficulty a bit.
You realize you just boned holders and pumpers of this coin, right?

 

[HuuHachu]

Just a quick update there is a new client for PXC PhenixCoin You can get the new client here. http://phenixcoin.com/


   - Block Target is 50 seconds
    -Block reward halfed every 840k blocks
    -168 million total coins
    -50 coins per block
    -Difficulty changes every 108 blocks

** PLEASE UPDATE YOUR CLIENTS BEFORE BLOCK 69444 **

 Thanks
   John

You kept the 50 coins per block while reducing the average time between blocks ?
This means coins will be generated faster now and the coins accumulated so far will thus be devaluated by the same ratio (almost 2x)

Not a nice move for people who sticked to pxc from the beginning

Also what motivated the reduction in the block time ?
90 seconds was quite low already, I have doubts in the network security with such a low value (decreasing the target time ease various kinds of attacks)

Last but not least, I understand why you want to reduce the difficulty adjustment, but without any kind of moving average / continuous adjustment, decreasing this facilitates gaming with the difficulty and thus greatly reduces the security.
(If you happen to control a sizable fraction of the hash-power, by moving in and out at the right time, you can artificially increase / reduce the difficulty, and use the low difficulty cycle to conduct attacks)

In my opinion, the move with the target time and difficulty retarget are quite dangerous for a coin that has a rather low dedicated hash-power.

For the coin generation rate, this is simply a silly move ... should have reduce to 50/(90/50) ~= 27.7 coins per block
(but better not touch the block time anyway)

[captainfuture]

i just sold all my coins

[apbyte]

i just sold all my coins

me too

I just don't understand if they are stupid or what?

[MaGNeT]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

[apbyte]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

Cryptsy

[MaGNeT]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

Cryptsy

Only sells at Cryptsy for the last hours are:

2013-08-01 16:02:42   Sell   0.00027500   94.42181419   0.02596600
2013-08-01 16:02:42   Sell   0.00027507   400.00000000   0.11002800
2013-08-01 16:02:42   Sell   0.00027510   421.67261261   0.11600214
2013-08-01 16:02:42   Sell   0.00027511   300.00000000   0.08253300

[captainfuture]

doesnt really increase trust in this coin.
what changes will be next week?

[apbyte]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

Cryptsy

Only sells at Cryptsy for the last hours are:

2013-08-01 16:02:42   Sell   0.00027500   94.42181419   0.02596600
2013-08-01 16:02:42   Sell   0.00027507   400.00000000   0.11002800
2013-08-01 16:02:42   Sell   0.00027510   421.67261261   0.11600214
2013-08-01 16:02:42   Sell   0.00027511   300.00000000   0.08253300

That is right, one of those in middle is mine

[nawazish1]

doesnt really increase trust in this coin.
what changes will be next week?

This was not to get the trust. This is to get out of the difficulty problem. Be patient.

[ohiwastedmylif]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

Cryptsy

Only sells at Cryptsy for the last hours are:

2013-08-01 16:02:42   Sell   0.00027500   94.42181419   0.02596600
2013-08-01 16:02:42   Sell   0.00027507   400.00000000   0.11002800
2013-08-01 16:02:42   Sell   0.00027510   421.67261261   0.11600214
2013-08-01 16:02:42   Sell   0.00027511   300.00000000   0.08253300

That is right, one of those in middle is mine

Magnet has like $50,000 in PXC so he was expecting to see more than $9 haha.

[captainfuture]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

Cryptsy

Only sells at Cryptsy for the last hours are:

2013-08-01 16:02:42   Sell   0.00027500   94.42181419   0.02596600
2013-08-01 16:02:42   Sell   0.00027507   400.00000000   0.11002800
2013-08-01 16:02:42   Sell   0.00027510   421.67261261   0.11600214
2013-08-01 16:02:42   Sell   0.00027511   300.00000000   0.08253300

That is right, one of those in middle is mine

no. that were all mine  

[apbyte]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

Cryptsy

Only sells at Cryptsy for the last hours are:

2013-08-01 16:02:42   Sell   0.00027500   94.42181419   0.02596600
2013-08-01 16:02:42   Sell   0.00027507   400.00000000   0.11002800
2013-08-01 16:02:42   Sell   0.00027510   421.67261261   0.11600214
2013-08-01 16:02:42   Sell   0.00027511   300.00000000   0.08253300

That is right, one of those in middle is mine

Magnet has like $50,000 in PXC so he was expecting to see more than $9 haha.

it takes time for people to see that there is new update, then realize what was changed and then time to move coins from wallet to cryptsy, I assume few hours will pass until people will start to dump

I simply spotted this thread and had some already in cryptsy so was able to sell them right now

[MaGNeT]

i just sold all my coins

i just sold all my coins

me too

I just don't understand if they are stupid or what?

Where did you sell them?

Cryptsy

Only sells at Cryptsy for the last hours are:

2013-08-01 16:02:42   Sell   0.00027500   94.42181419   0.02596600
2013-08-01 16:02:42   Sell   0.00027507   400.00000000   0.11002800
2013-08-01 16:02:42   Sell   0.00027510   421.67261261   0.11600214
2013-08-01 16:02:42   Sell   0.00027511   300.00000000   0.08253300

That is right, one of those in middle is mine

no. that were all mine  

Nah, doesn't matter guys. I like to joke around a little 

[HuuHachu]

Magnet has like $50,000 in PXC so he was expecting to see more than $9 haha.

I don't understand why he is not vocal about the increased generation rate ... this obviously affects its capital a lot !

(still possible to update the update ... at least change it so the coin generation rate is maintained, by proportionally reducing the block reward !)

[apbyte]

no. that were all mine  

Nah, doesn't matter guys. I like to joke around a little 

oh sorry, you are right mine was few minutes later. You need to hit refresh to see last trades

[Bitsinmyhead]

Just WOW! I cannot believe this, the developers changed the rules of the game mid game? You gotta be fing kidding me. I just dumped the 4k coins I had on the exchange, rest will be dumped once it hit it. This is totally unfair and extremely shady. If something similar had been done with Bitcoins or a serious coin it would have been dead. Lucky for you Phenix guys only stupid people are left holding them.

I have been extremely patient waiting and listening to all the hype surrounding this coin, been let down every single week with empty promises, but up until now at least I knew I was holding a coin with fair rules. Well guess what it is not even that anymore. Not even a warning was given, the developers didn't even ask anyone if this was a good idea...

To sum it up: The developers are not only completely useless and cannot finish any project, but they are also so stupid they don't have a clue on how to make a coin fair. This is just like a central bank saying lets start running the printing press in double speed.

WHAT A JOKE!

[jdebunt]

well i updated my client, we'll see what it brings once this outrage has calmed down

[schmelix]

Serious?! You are kidding right!

[apbyte]

with fiat currencies it is called - DEVALUATION by 40%

[Bitsinmyhead]

Good job good effort guys! Just doing exactly what cryptos were supposed to not do. Randomly devalue the currency! I am extremely pissed 

[chondrite]

I've been following PXC since inception.  This is the worst news yet...and there have been some serious fuck ups in the past.

[thef]

Decreasing block times without decreasing reward is a huge mistake. I had a lot of confidence in phenixcoin when it started off, but that trust has been slowly fading away. This is just the final nail in the coffin.

[Pmalek]

Just sold my coins too!  Way to go PXC, that is the right way to lose the investors! Bravo!!!! Very unprofessional.. At least now I have some free money to invest more in DGC!

[FiNaLize]

These DEvs are terrible!! Seriously Nazwish1 MaGNet Joerii , you are being hurt here by this retargeting,  watch your backs as these devs will backstab you when they want!

[Whuzz]

These DEvs are terrible!! Seriously Nazwish1 MaGNet Joerii , you are being hurt here by this retargeting,  watch your backs as these devs will backstab you when they want!

you said only one dev but now devs are terrible?
hurt by retargeting? i read they agree on it,  must know something we don't
don't judge,  you know shit, only bash

[nviere]

Have been quiet for some time but this is really bad. Just removed my buy orders. Please change it back!

[zackclark70]

I am now very glad I sold all my pxc the other week 

[Pmalek]

Bye Bye PXC 0.00024 and falling...

Edit: Didnt expect this! Emptied buy side  Reached 0.00007 LOL

[RussianInsomnia]

Bye Bye PXC 0.00024 and falling...

Edit: Didnt expect this! Emptied buy side  Reached 0.00007 LOL

It wont even rest in peace. It will rest pieces

[portice]

Bye Bye PXC 0.00024 and falling...

Edit: Didnt expect this! Emptied buy side  Reached 0.00007 LOL

You made some happy individuals if you sold at that

[panoss]

I don't know about you guys but this also shakes my trust for Feather and World coin too.I would  suppose that the Phenix team went through a discussion before that move with the whole team.
If they did and the team accepted that move :Bad news as sthg similar could happen to Feather and World too
If they didn't that means the team isn't really a team and everyone goes as he wants
Am i wrong?
I would appreciate an official answer

[JohnCar]

I don't know about you guys but this also shakes my trust for Feather and World coin too.I would  suppose that the Phenix team went through a discussion before that move with the whole team.
If they did and the team accepted that move :Bad news as sthg similar could happen to Feather and World too
If they didn't that means the team isn't really a team and everyone goes as he wants
Am i wrong?
I would appreciate an official answer

Since you asked a legit question this was a move by PXC only. WDC and FTC found out after the fact. Even though we are in a partnership each coin is responsible for its own identity. I am not going to go into details because things will get twisted, spun and i aint doing it. So no reason to drag FTC or WDC threw the mud. If this community is to grow you have to start thinking out side of the box. There is a whole world out side of this community. This
effected Me and and Mike more then anyone. Don't get me wrong i understand why everyone is pissed. But we did what we seen we needed to do and
now its done.

       John

[Bitsinmyhead]

Since you asked a legit question this was a move by PXC only.

Because you seem to be answering legit questions I have a couple too.

1. Why was the block reward not reduced at the same time as you reduced the reward generation time? That would have kept how many coins were created each day stable and would have been fair.

2. How are anyone to trust that you guys do not randomly alter reward generation and other stuff in the future? It does not seem anyone can know how many coins will be in circulation at any time the way you are operating.

Also, your track record for keeping your word is kinda shaky. Most of the stuff you have promised and your time limits have never been kept. Also the outright lie about DDOS protection you told the first time you did not meet the UNOCS time limit is not good. At that point in time you must have known there would be no UNOCS in "the next 24 hours". I think we who have supported the coin up until this point deserves an apology for this and the least you can do is answer the above questions.

[ghostlander]

This effected Me and and Mike more then anyone. Don't get me wrong i understand why everyone is pissed. But we did what we seen we needed to do and now its done.

This is weird and simply alogical. You did something what screwed many people of your community, and these people are your investors whether you like it or not. You did not discuss the patch with them. You did not announce it well ahead of time. You still have time to fix the patch, but you say it's done and get over. What do you expect in return?

[zackclark70]

do you know how bad a position you hove stuck some of your biggest supporters in ?

you are hurting you biggest supporters with out them you coin is nothing !!!



I did have a very long message to post here but to be honest I don't want to devalue pxc anymore

[Bitsinmyhead]

I did have a very long message to post here but to be honest I don't want to devalue pxc anymore

Just post it, I am in the same situation as you and I am working on a very big post uncovering all the hype and B.S. that has been going on in this coin, it could get ugly...

[zackclark70]

I did have a very long message to post here but to be honest I don't want to devalue pxc anymore

Just post it, I am in the same situation as you and I am working on a very big post uncovering all the hype and B.S. that has been going on in this coin, it could get ugly...

do all the users  a big favour and send the post to the devs only devaluing a coin is not good for anyone

[nviere]

do you know how bad a position you hove stuck some of your biggest supporters in ?

you are hurting you biggest supporters with out them you coin is nothing !!!



I did have a very long message to post here but to be honest I don't want to devalue pxc anymore

I don't understand it either... I really thought pxc was something incredible, seems now that every pxc I have , a lot bought from hard-earned money is worth close to nothing. So again please change it back.

[Bitsinmyhead]

do all the users  a big favour and send the post to the devs only devaluing a coin is not good for anyone

You know what, I might actually have done that if the developers were not constantly ignoring me and my questions. Now it's to late...

[ToxicDartFrog]

I've supported PXC from the beginning and even I have to say I'm a bit annoyed here. If they had only just dropped the blocks to retarget down to 108 and didn't mess with the block time I doubt we would have had these kind of complaints. I remember initially block retarget time got dropped down to 600 and was supposed to be 480 which helped (people were HAPPY) but clearly wasn't enough. So just moving it down to 108 would have been fine I'd think. So I just want to know why drop the block time? To speed up the transaction times?

I also understand coins will generate faster now but still not affect the total produced so I guess it's not that bad but still I don't understand why this had to be done so late? I feel like I've been messed with a bit here, glad I don't keep all my eggs in one basket

[ghostlander]

The only thing they really needed to change is difficulty limiter. 1.8 is too high, 1.4 or less is a good choice.

Code:

// Maximum 80% adjustment... 
bnResult = (bnResult * 99) / 55;

Did they change it? Of course not. So, where is the difficulty fix? They changed block target and retarget window instead.

Code:

- static const int64 nTargetTimespan = (5 * 24 * 60 * 60) / 8; // Phenixcoin: 2.5 days 
- static const int64 nTargetSpacing = 1.5 * 60; // Phenixcoin: 1.5 minutes 

+ static const int64 nTargetTimespan_retar = 3 * 30 * 60; // 90 Minutes 
+ static const int64 nTargetSpacing_retar = 1 * 50; // Phenixcoin: 50 seconds

It was a) not necessary; b) doesn't solve the difficulty problem; c) creates another serious difficulty vulnerability. Anyone who can throw a few GH/s into the network can drive difficulty sky high in less than a day and leave it there. Terracoin experienced this just a few days ago. Still stuck at high difficulty.

That's a FAIL. Don't fix what isn't broken.

[Bitsinmyhead]

The only thing they really needed to change is difficulty limiter. 1.8 is too high, 1.4 or less is a good choice.

Code:

// Maximum 80% adjustment... 
bnResult = (bnResult * 99) / 55;

Did they change it? Of course not. So, where is the difficulty fix? They changed block target and retarget window instead.

Code:

- static const int64 nTargetTimespan = (5 * 24 * 60 * 60) / 8; // Phenixcoin: 2.5 days 
- static const int64 nTargetSpacing = 1.5 * 60; // Phenixcoin: 1.5 minutes 

+ static const int64 nTargetTimespan_retar = 3 * 30 * 60; // 90 Minutes 
+ static const int64 nTargetSpacing_retar = 1 * 50; // Phenixcoin: 50 seconds

It was a) not necessary; b) doesn't solve the difficulty problem; c) creates another serious difficulty vulnerability. Anyone who can throw a few GH/s into the network can drive difficulty sky high in less than a day and leave it there. Terracoin experienced this just a few days ago. Still stuck at high difficulty.

That's a FAIL. Don't fix what isn't broken.

This is just one failure in an endless line of failures brought to you by the Phenixcoin team. Look for my post in the official thread outlining all failures and hype attempts. Will be posted within 30 minutes

[FiNaLize]

do all the users  a big favour and send the post to the devs only devaluing a coin is not good for anyone

You know what, I might actually have done that if the developers were not constantly ignoring me and my questions. Now it's to late...

Posted it in the newbie forum as well, people need to be aware.

[TheFuneral]

Care to explain why you did this? It doesn't exactly scream logical sense.

It feels like you punished you're supporters and you're reason for doing so is because I said so.

[Joerii]

With the difficulty adjustment of version 6.4.9, Phenixcoin is excited about looking forward to integrating the feedback we’ve received from our community. We understand your concerns, your voice is heard loud and clear.  Our upcoming release will reduce the reward by half, provide 51% checkpointing protection and integrate new features directly into the Phenix wallet.

As we continue developing the Phenixcoin, we also turn our attention toward the upcoming releases of UNOCS Bridge and the Phenix Exchange. We understand that the best way we can protect your investment is to add premium services which utilize your coin. We take that responsibility to heart; we can’t wait for our community to enjoy these new platforms.

Finally, we’ve asked our UNOCS partner JustaBitofTime to assist us with development and strategic planning.  He’s been a strong leader for the Feathercoin community and we look forward to him providing that same level of support to our talented community leaders at Phenixcoin.  His new role is an advisor for all 3 partner coins, we couldn’t be happier to utilize his experience. If you haven’t had a chance to read his NYC Bitcoin Report, I encourage you do so now. He’s committed to helping us gain the same mainstream exposure and opportunities.

https://forum.feathercoin.com/index.php?topic=3130.0

Thank you for joining us on this journey, we hear you loud and clear.

Thanks
  John

[nulo0b]

[panoss]

With the difficulty adjustment of version 6.4.9, Phenixcoin is excited about looking forward to integrating the feedback we’ve received from our community. We understand your concerns, your voice is heard loud and clear.  Our upcoming release will reduce the reward by half, provide 51% checkpointing protection and integrate new features directly into the Phenix wallet.

As we continue developing the Phenixcoin, we also turn our attention toward the upcoming releases of UNOCS Bridge and the Phenix Exchange. We understand that the best way we can protect your investment is to add premium services which utilize your coin. We take that responsibility to heart; we can’t wait for our community to enjoy these new platforms.

Finally, we’ve asked our UNOCS partner JustaBitofTime to assist us with development and strategic planning.  He’s been a strong leader for the Feathercoin community and we look forward to him providing that same level of support to our talented community leaders at Phenixcoin.  His new role is an advisor for all 3 partner coins, we couldn’t be happier to utilize his experience. If you haven’t had a chance to read his NYC Bitcoin Report, I encourage you do so now. He’s committed to helping us gain the same mainstream exposure and opportunities.

https://forum.feathercoin.com/index.php?topic=3130.0

Thank you for joining us on this journey, we hear you loud and clear.

Thanks
  John

I am not pissed about the money I have lost-SERIOUSLY-I am a trader and I take the whole responsibility.
But I am really pissed off when I see lame marketing promotion letters using hypnotic writing trying to devalue my IQ

......But we did what we seen we needed to do and
now its done.
      John


and inconsistency too

[Carra23]

At least PXC took some steps to correct the error. Though why would they suddenly increase the coins generated is beyond me.

Now they will step back and let their rabid PR guy take over.

[Buffcorp]

I don't know about you guys but this also shakes my trust for Feather and World coin too.I would  suppose that the Phenix team went through a discussion before that move with the whole team.
If they did and the team accepted that move :Bad news as sthg similar could happen to Feather and World too
If they didn't that means the team isn't really a team and everyone goes as he wants
Am i wrong?
I would appreciate an official answer

Since you asked a legit question this was a move by PXC only. WDC and FTC found out after the fact. Even though we are in a partnership each coin is responsible for its own identity. I am not going to go into details because things will get twisted, spun and i aint doing it. So no reason to drag FTC or WDC threw the mud. If this community is to grow you have to start thinking out side of the box. There is a whole world out side of this community. This
effected Me and and Mike more then anyone. Don't get me wrong i understand why everyone is pissed. But we did what we seen we needed to do and
now its done.

       John

You fucking moron. Now that you have instantly devalued my holdings why don't you repay everyone who lost because of your idiotic decision. Cocksucker!

[RJ2013]

WTF im holding 7000 pxc i just read this i will sold them all now see the drop in 2 minutes from .00022520 to .00019 or .00018 damn i will never invest in this coin no more

[RJ2013]

i will buy this coin in .00007 or same value of fastcoin

[Beeker]

With the difficulty adjustment of version 6.4.9, Phenixcoin is excited about looking forward to integrating the feedback we’ve received from our community. We understand your concerns, your voice is heard loud and clear.  Our upcoming release will reduce the reward by half, provide 51% checkpointing protection and integrate new features directly into the Phenix wallet.

As we continue developing the Phenixcoin, we also turn our attention toward the upcoming releases of UNOCS Bridge and the Phenix Exchange. We understand that the best way we can protect your investment is to add premium services which utilize your coin. We take that responsibility to heart; we can’t wait for our community to enjoy these new platforms.

Finally, we’ve asked our UNOCS partner JustaBitofTime to assist us with development and strategic planning.  He’s been a strong leader for the Feathercoin community and we look forward to him providing that same level of support to our talented community leaders at Phenixcoin.  His new role is an advisor for all 3 partner coins, we couldn’t be happier to utilize his experience. If you haven’t had a chance to read his NYC Bitcoin Report, I encourage you do so now. He’s committed to helping us gain the same mainstream exposure and opportunities.

https://forum.feathercoin.com/index.php?topic=3130.0

Thank you for joining us on this journey, we hear you loud and clear.

Thanks
  John

that will do for me,,

[dego]

Is there any coincidence with the block explorer which was down for the last weeks?

[zackclark70]

Does anyone want to work with me to get a pxc block explorer online ?

I have a sever and a domain I am looking for a quote to get a basic one up and then a new front end to it 

[Beeker]

Does anyone want to work with me to get a pxc block explorer online ?

I have a sever and a domain I am looking for a quote to get a basic one up and then a new front end to it 

this one is up,,

http://explorer.phenixcoin.com

sometimes its up,, sometims its not,,

[zackclark70]

Does anyone want to work with me to get a pxc block explorer online ?

I have a sever and a domain I am looking for a quote to get a basic one up and then a new front end to it 

this one is up,,

http://explorer.phenixcoin.com

sometimes its up,, sometims its not,,

I am looking to make a more reliable one

[dego]

https://github.com/jtobey/bitcoin-abe
http://www.jevon.org/wiki/Litecoin

[zackclark70]

https://github.com/jtobey/bitcoin-abe
http://www.jevon.org/wiki/Litecoin

thanks I will have a go but I am not to good lol main reason for looking for someone to do it