[ANN][PHS][50% PoS] PhilosopherStone | NoPremine |10 month Dist | 1.6.4.1

[Remy_5]

Patch ready with the changes to pos only/etc to make PHS current with the times (no changes to stake). Now it's just a matter of when we make this changeover, which requires everyone's favorite - switchover/fork, although should be much easier this time

Will see when cryptsy is activated, if prolonged downtime I would like to do this switch sooner rather than later so we can stop with all these updates and maybe do a reboot.

It will be possible to reactivate mode PoW, automatically or via a global message, if there were unforeseen problems or
if there are too few active nodes or nodes scattered?

I mean, a kind of safety valve against the collapse of the network.

[mxn]

Thanks palmdetroit for a fresh wallet, works with Ubuntu/Debian and finally is minting.

Please subscribe also on reddit.com/r/philosopherstone and do not forget voting at Mintpal where PHS is racing Maxcoin and Anti-Keiser-Coin this weekend: https://www.mintpal.com/voting#PHS

[solarion]

Discontinue PoW asap and close this attack vector. It's just causing problems at this point.

[tokyoghetto]

so what happens with the PoW mining and the block halving? One of the reasons I invested in this coin is because of the block halving in PoW. Also, there are still lots of PoW miners out there. Cutting them out is not a good idea IMO. Alot of them can only get coins through mining, and by going 100% PoS we are forcing them to buy PHS.

It would be better to find a solution so that we can retain PoW/PoS rather then going 100% PoS.

[solarion]

so what happens with the PoW mining and the block halving? One of the reasons I invested in this coin is because of the block halving in PoW. Also, there are still lots of PoW miners out there. Cutting them out is not a good idea IMO. Alot of them can only get coins through mining, and by going 100% PoS we are forcing them to buy PHS.

It would be better to find a solution so that we can retain PoW/PoS rather then going 100% PoS.

Swell, go find a solution. Meanwhile some immature kids in their basement are going to lock out PoS...again. This coin is being crippled by these attacks and the incompetence of some alleged tech guys at one poorly run exchange. We need real solutions, not hope and dreams.

PoW was fine for initial distribution, but the landscape is filled with altcoins all competing for the same hashes. Ending PoW will upset the few people that mine it and provide some much needed stability for the many that hold PHS. The coin is not that expensive at these levels. If you're obsessed wtih the mining "experience" then petition hashco.ws to add PHS as a payout option. At this point PoW is holding this coin back.

[Palmdetroit]

so what happens with the PoW mining and the block halving? One of the reasons I invested in this coin is because of the block halving in PoW. Also, there are still lots of PoW miners out there. Cutting them out is not a good idea IMO. Alot of them can only get coins through mining, and by going 100% PoS we are forcing them to buy PHS.

It would be better to find a solution so that we can retain PoW/PoS rather then going 100% PoS.

Swell, go find a solution. Meanwhile some immature kids in their basement are going to lock out PoS...again. This coin is being crippled by these attacks and the incompetence of some alleged tech guys at one poorly run exchange. We need real solutions, not hope and dreams.

PoW was fine for initial distribution, but the landscape is filled with altcoins all competing for the same hashes. Ending PoW will upset the few people that mine it and provide some much needed stability for the many that hold PHS. The coin is not that expensive at these levels. If you're obsessed wtih the mining "experience" then petition hashco.ws to add PHS as a payout option. At this point PoW is holding this coin back.

Open to suggestions , as always, right now I think the best fit for PHS is PoS only model, as PoW is by design only for initial fair distribution and at this point its really only being distributed to large multipools (not that I have anything against them, I like multipools and use them myself). This is actually in line with PHS original development (continued block halving to favor PoS more and more, we *can* just speed it up and avoid more problems)

With the advent of ASICS and the current crypto vibe (look at the state of coins that are doublespent, frozen, broken, or hijacked at the moment? sure business for developers has never been better. Look into the WC saga , DMD freeze, for examples it's not limited to high or low market cap coins anymore.

It's not like this wasn't forseen, I actually brought this up with pool ops on PHS and other coins as far back as December that the time would come to either go PoS only or switch to a new mining algo (this is also a possibility, seems to be favored in DMD so far). Since scrypt networks will now become decentralized and attack prone (unless very well protected like LTC)

FWIW SK on pos
http://www.peercoin.net/assets/paper/peercoin-paper.pdf

"I invested in this coin is because of the block halving in PoW"
Having slows creation of new coins, PoS only will restrict creation of new stones, in the same way, just sooner. Do you really see anyone mining for 1 phs?

PS > Argument for Pos only > As I was writing this one of the multipools forked... 

[solarion]

Hot off the presses from cryptsy support:

Hello solarion,

PHS wallet is offline waiting for a fix from the developers. Please know that your coins are safe, and PHS should be returning soon.
Sincerely,
Grace
Cryptsy.com

[kingscrown]

imo PHS should stay as PoW/PoS - you are forking it too much. the coin is good as it is - people love this wallet. i see ZS coin also forked it for PoW.
instead of chaning to PoS we need more exchanges, games etc.

[solarion]

imo PHS should stay as PoW/PoS - you are forking it too much. the coin is good as it is - people love this wallet. i see ZS coin also forked it for PoW.
instead of chaning to PoS we need more exchanges, games etc.

I believe you need to do some research. The coindev correctly pushed a hard fork to address a problem caused by a PoW attack which disabled PoS.

...now there's a sentence I never thought I would assemble.

[DKdance]

PHS rise at coinwarz & coinchoose, so multipools jump on it, find many blocks in 1 minute, tonight they seems to have forked each other. That's them who hurt. If you're interested by halving, why halving to 0 should be a problem ? I bought BC & CINNI. These are 1% stake, funny ... Why would it be a problem to buy a rare stone (no stones, just coins, we are unique ^^) with 50% stake interest ? Blackoin ? Really ? 1% ? I don't get it. No problem. And out asics and multipools who get benefit of a valuable currency while "you know who" ruins it and take benefit of it too. Since when they freeze they stake, just us can't stake since we can't withdraw and not interested in buying while they fullfill their pockets with cheap stones. GO POS.

AND PLEASE vote every hour you can on MINTPAL because if it had always been there I assure you price would be higher. Because I'd have bought: 1 everything I was stolen, 2 and more. Just consider if we go on mintpal I'll push u up up !!

[Palmdetroit]

imo PHS should stay as PoW/PoS - you are forking it too much. the coin is good as it is - people love this wallet. i see ZS coin also forked it for PoW.
instead of chaning to PoS we need more exchanges, games etc.

I believe you need to do some research. The coindev correctly pushed a hard fork to address a problem caused by a PoW attack which disabled PoS.

...now there's a sentence I never thought I would assemble.

Yep The PoS issue required a hardfork and fixed that issue.


I am looking at three possible solutions, the move to PoS only must happen or the current issue will become worse as the PoW reward halves again, just the timing is the question.  Raising PoW value really defeats the purpose of the PoS. a New algo is just wasting resources, IMO.

The current issue with PoW is multiple multipools hitting PHS at low difficulties resulting into orphans and in some cases forks. this can be remedied by users mining PHS on a constant basis. The argument to keep PoW sort of falls flat when we have very few actual miners (other then from multipools/high hashers).

The solution (not using a hardork) would be more users setting 24-7 PoW miners at
http://www.coinmine.pw/poolinfo.php?coinid=55

And setting up workers to only PHS.  Miners on PHS will benefit from PPLNS.

So I guess we can see if enough miners do this then we have a solution which will not require a hardfork now, but will likely be necessary before next halving (you may notice the issue began this halving).

I put cryptsy on hold in case we go with the hardfork, that way we don't have to set it weeks in advance. We can let miners mine PHS or not, if not it serves no purpose, I'm also tired of updating client daily, and want a long term solution, which is coded and at the end of testing.

short version:
Keep PoW? > Mine it
PoS Only? > Don't mine it

[alibabacool]

imo PHS should stay as PoW/PoS - you are forking it too much. the coin is good as it is - people love this wallet. i see ZS coin also forked it for PoW.
instead of chaning to PoS we need more exchanges, games etc.

I believe you need to do some research. The coindev correctly pushed a hard fork to address a problem caused by a PoW attack which disabled PoS.

...now there's a sentence I never thought I would assemble.

Yep The PoS issue required a hardfork and fixed that issue.


I am looking at three possible solutions, the move to PoS only must happen or the current issue will become worse as the PoW reward halves again, just the timing is the question.  Raising PoW value really defeats the purpose of the PoS. a New algo is just wasting resources, IMO.

The current issue with PoW is multiple multipools hitting PHS at low difficulties resulting into orphans and in some cases forks. this can be remedied by users mining PHS on a constant basis. The argument to keep PoW sort of falls flat when we have very few actual miners (other then from multipools/high hashers).

The solution (not using a hardork) would be more users setting 24-7 PoW miners at
http://www.coinmine.pw/poolinfo.php?coinid=55

And setting up workers to only PHS.  Miners on PHS will benefit from PPLNS.

So I guess we can see if enough miners do this then we have a solution which will not require a hardfork now, but will likely be necessary before next halving (you may notice the issue began this halving).

I put cryptsy on hold in case we go with the hardfork, that way we don't have to set it weeks in advance. We can let miners mine PHS or not, if not it serves no purpose, I'm also tired of updating client daily, and want a long term solution, which is coded and at the end of testing.

short version:
Keep PoW? > Mine it
PoS Only? > Don't mine it

Looks like move to PoS only is the best way for PHS, IMHO.

[solarion]

imo PHS should stay as PoW/PoS - you are forking it too much. the coin is good as it is - people love this wallet. i see ZS coin also forked it for PoW.
instead of chaning to PoS we need more exchanges, games etc.

I believe you need to do some research. The coindev correctly pushed a hard fork to address a problem caused by a PoW attack which disabled PoS.

...now there's a sentence I never thought I would assemble.

Yep The PoS issue required a hardfork and fixed that issue.


I am looking at three possible solutions, the move to PoS only must happen or the current issue will become worse as the PoW reward halves again, just the timing is the question.  Raising PoW value really defeats the purpose of the PoS. a New algo is just wasting resources, IMO.

The current issue with PoW is multiple multipools hitting PHS at low difficulties resulting into orphans and in some cases forks. this can be remedied by users mining PHS on a constant basis. The argument to keep PoW sort of falls flat when we have very few actual miners (other then from multipools/high hashers).

The solution (not using a hardork) would be more users setting 24-7 PoW miners at
http://www.coinmine.pw/poolinfo.php?coinid=55

And setting up workers to only PHS.  Miners on PHS will benefit from PPLNS.

So I guess we can see if enough miners do this then we have a solution which will not require a hardfork now, but will likely be necessary before next halving (you may notice the issue began this halving).

I put cryptsy on hold in case we go with the hardfork, that way we don't have to set it weeks in advance. We can let miners mine PHS or not, if not it serves no purpose, I'm also tired of updating client daily, and want a long term solution, which is coded and at the end of testing.

short version:
Keep PoW? > Mine it
PoS Only? > Don't mine it

Looks like move to PoS only is the best way for PHS, IMHO.

+1 We need some stability.

[ando0022]

imo PHS should stay as PoW/PoS - you are forking it too much. the coin is good as it is - people love this wallet. i see ZS coin also forked it for PoW.
instead of chaning to PoS we need more exchanges, games etc.

I believe you need to do some research. The coindev correctly pushed a hard fork to address a problem caused by a PoW attack which disabled PoS.

...now there's a sentence I never thought I would assemble.

Yep The PoS issue required a hardfork and fixed that issue.


I am looking at three possible solutions, the move to PoS only must happen or the current issue will become worse as the PoW reward halves again, just the timing is the question.  Raising PoW value really defeats the purpose of the PoS. a New algo is just wasting resources, IMO.

The current issue with PoW is multiple multipools hitting PHS at low difficulties resulting into orphans and in some cases forks. this can be remedied by users mining PHS on a constant basis. The argument to keep PoW sort of falls flat when we have very few actual miners (other then from multipools/high hashers).

The solution (not using a hardork) would be more users setting 24-7 PoW miners at
http://www.coinmine.pw/poolinfo.php?coinid=55

And setting up workers to only PHS.  Miners on PHS will benefit from PPLNS.

So I guess we can see if enough miners do this then we have a solution which will not require a hardfork now, but will likely be necessary before next halving (you may notice the issue began this halving).

I put cryptsy on hold in case we go with the hardfork, that way we don't have to set it weeks in advance. We can let miners mine PHS or not, if not it serves no purpose, I'm also tired of updating client daily, and want a long term solution, which is coded and at the end of testing.

short version:
Keep PoW? > Mine it
PoS Only? > Don't mine it

Looks like move to PoS only is the best way for PHS, IMHO.

+1 We need some stability.

+1 and a good Exchange ..

[tuanvtau]

i'm late, but PHS is renew? to POW and POS? if that when? and pool ? thank for answer newbie

[mxn]

Beside security aspects, PoW is wasted as hell, data speaks for itself.

Look at these Bitcoin charts over the last 180 days:

- Daily transaction stayed the same.
- Price climbed up to the double.
- Hashrate multiplicated 20 times.

https://i.imgur.com/zZonp45.png

Bitcoin can fail hard, it needs resources without a benefit.
This was predicted by a few in concerns of energy efficiency, but denied by a strong, well-funded lobby of crypto miners/investors.

I prefered PHS because it is going fully PoS and got frustrated of the bullshit communication forced by thousand trolls/kids at other PoS-only coins. Those bigger coins do not have more than a hand full of coders working on git. If we here stay focused on software development and 3rd party adoption than in too-early consumer marketing, the stone has higher value many might think.

[DKdance]

i'm late, but PHS is renew? to POW and POS? if that when? and pool ? thank for answer newbie

PHS never died, It is still hybrid POW / POS. If we switch to POS only it will be soon. If community want to keep POW, we must assure some mining regular dedicated power at coinmine.pw by filtering PHS only on their multipool bcause multipools fork day after day.

Even if you guys wanna switch to POS only, help mining it at coinmine to help stabilize DIFF retarget and so the network until the update is welcome to avoid forks.

Beside security aspects, PoW is wasted as hell, data speaks for itself.

  I agree ! But price is matter of other factors.

[DKdance]

GOOGLE.FR -> PROOF OF STAKE 3rd position  

http://www.hostingpics.net/viewer.php?id=152675GOOGPOS.png

[Palmdetroit]

Beside security aspects, PoW is wasted as hell, data speaks for itself.

Look at these Bitcoin charts over the last 180 days:

- Daily transaction stayed the same.
- Price climbed up to the double.
- Hashrate multiplicated 20 times.

Bitcoin can fail hard, it needs resources without a benefit.
This was predicted by a few in concerns of energy efficiency, but denied by a strong, well-funded lobby of crypto miners/investors.

I prefered PHS because it is going fully PoS and got frustrated of the bullshit communication forced by thousand trolls/kids at other PoS-only coins. Those bigger coins do not have more than a hand full of coders working on git. If we here stay focused on software development and 3rd party adoption than in too-early consumer marketing, the stone has higher value many might think.

Thanks for this, out of curiosity, have you ever researched the amount of power mining bitcoin uses? The entirety of script mining would also be interesting to look at.

Also,  I've realized that even though mining PoW does use power, it's still much more efficient and an improvement on fiat currencies (think armored trucks, printing, replacing, etc). And of course, PoS being even more efficient and smaller footprint.

[kingscrown]

i cannot sync wallet.
it generates PoS but never fully syncs.

tried everything [even update you posted].