[ANN] TagCoin - Multi Token Wallet and Trading Platform

[vesperwillow]

That sounds reasonable.

[techbytes]

I agree to drop POS and only have TAG as POW.  The pool has been nothing more than a pain to maintain.  If you let it linger 7-10 months, TAG will suffer.  If you fix the orphan issue, then CryptoPools will set up a new TAG pool on new hardware and I will get miners to mine again with block bonuses.  If orphan issue is not resolved, then it would just be lost effort maintaining the pool.


-tb-

[torzsy]

http://tag.cryptominer.net/ pool catched up the blockhain, stratum is up and running. Let's see what happens in the next few hours.

[Don007]

I'm glad you put effort in this to fix the problem. I am wondering, you said that removing the POS will (maybe) shock the price. You think the value of this coin is going to decrease then?

[tagbond]

Depends on the demand for TAG.. currently with POS the average time to create a block is 8 mins...so bringing it back to 4 means twice as many coins produced and no one hoarding them for 1.5% pos return...but if there is twice the interest in buying them it won't make a difference...hedge the bets and go for 5 or 6 min blocks..

[Don007]

Allright. Thank you for your reply.

When do you think you are going to erase the POS out of the script? So when do you plan to make this happen?

The possible price shock sucks, but if TagCoin is better after that I'm fine with it.

[tagbond]

We will see the result of the fix first, and see what the miners report about orphans and any other problems. It may have fixed the problem. However, I may put up a poll after 24 or 48 hours and put it to the community.

[werneo]

Depends on the demand for TAG.. currently with POS the average time to create a block is 8 mins...so bringing it back to 4 means twice as many coins produced and no one hoarding them for 1.5% pos return...but if there is twice the interest in buying them it won't make a difference...hedge the bets and go for 5 or 6 min blocks..

Hi Mark - On what do you base the assumption that there will be 2x the interest in buying tagcoin? If there is nothing specific that would gin-up the price to match the increase in available supply, then the most fair thing is to make the PoW block time no less than 8 mins. If you don't mind my saying so.

[vesperwillow]

For me the question is why do you think 1.5% POS doubled the value anyhow?

[Dabs]

Yeah, I was going to keep quiet about this until now, but I think, and this is just my opinion, is that the Proof of Stake blocks are the ones messing up the regular chain.

See, there is a priority and both types of blocks must be included in the block chain. PoS blocks get broadcast and added to the chain as soon as it is mined, and that's a whole bunch of wallets. Then the PoW blocks get added at about every 4 minutes, so any PoW blocks get orphaned when there are more than 2 PoS blocks that adds to the chain, and not everyone gets that broadcast in time, so a fork happens.

This would not happen if the latency for the entire network is zero, but that can never be true. You would need to put a tolerance of an entire round trip around the planet internet broadcast. Consider that to the moon, it takes about 1.279 seconds at the speed of light for anything to reach there. Then have it bounce back. Then any errors need to be retransmitted.

There needs to be enough time in between blocks such that once broadcast, the most recent mined block can reach the farthest point of the network, and 99% of all nodes.

With PoS blocks appearing at a very fast rate, since each wallet is actually mining PoS blocks after 30 days, they tend to orphan all the other blocks.

I have an idea: Kill the Proof of Stake in the code. Increase to 1.5% the interest on TAG coins that are held on the official website. You get to decentralize the block chain and mining, but you get to centralize the rewards on your own server or exchange. The hoarders will leave their coins on your exchange, and you might actually end up with all the coins because I'm no longer going to keep any on any other exchange that does not offer 1.5% interest.

Also, one more thing, is the algo going to remain as scrypt? I ask, only because there are ASICS looming on the horizon. If we switch to a harder Proof of Work or a different one, then I'm going to buy more GPUs.

If not, then I'm glad I pre-ordered some asics, hehe. (well, there's a whole bunch of other coins for those rigs to mine.)

[ehalvers]

Anyone else having trouble getting their wallet to sync now? Not sure what nodes are healthy.

[ny2cafuse]

Anyone else having trouble getting their wallet to sync now? Not sure what nodes are healthy.

Have you tried with just:

Addnode=tagmining.com

-Fuse

[vesperwillow]

Maybe this isn't easy to do or technically feasible, but, what if the PoW blocks were odd, and the PoS even? Or something like that. Then they couldn't collide.

[ny2cafuse]

Maybe this isn't easy to do or technically feasible, but, what if the PoW blocks were odd, and the PoS even? Or something like that. Then they couldn't collide.

But I would think you'd be trying to keep up with one another.  Like POS would be 400 blocks ahead, and we'd be filling in the gaps as we try to catch up.

I say just disable it and move on.  There really isn't a need for POS besides giving businesses the ability to hold large amounts of TAG to accrue interest on, but that encourages hoarding.  People are going to hoard regardless, but don't give them another reason to.

Disabling POS would move us past the issues that have been related to it, and it would bring back the stability that we all enjoyed early on.

-Fuse

[MobGod]

Is the mining fixed?

[24Kilo]

Is the mining fixed?

Nobody knows yet... so mine at your own risk.

[MobGod]

Is the mining fixed?

Nobody knows yet... so mine at your own risk.

thanks but i will wait until i get a answer

[ehalvers]

Anyone else having trouble getting their wallet to sync now? Not sure what nodes are healthy.

Have you tried with just:

Addnode=tagmining.com

-Fuse

Still can't get my wallet synced :/ worked Saturday night, then stopped syncing sunday. Did a clean download, still nothing. Hm. 

[johndec2]

Does it get within 10-20 blocks of synching and then stop?  If so, it's been a known issue since day 1.  Just close and restart your wallet and it will sync.

[ehalvers]

Never connects to anything

trying connection 217.157.9.88:8623 lastseen=209.0hrs
connection timeout
trying connection 217.157.9.88:8623 lastseen=209.0hrs
connection timeout
trying connection 217.157.9.88:8623 lastseen=209.0hrs
connection timeout
trying connection 217.157.9.88:8623 lastseen=209.0hrs
connection timeout
trying connection 217.157.9.88:8623 lastseen=209.0hrs
connection timeout
trying connection 217.157.9.88:8623 lastseen=209.0hrs
connection timeout
trying connection 217.157.9.88:8623 lastseen=209.0hrs
connection timeout
IRC connect failed
IRC waiting 292 seconds to reconnect
connection timeout
trying connection 217.157.9.88:8623 lastseen=209.0hrs
Flush(false)
blkindex.dat refcount=0
blkindex.dat checkpoint
blkindex.dat closed
wallet.dat refcount=0
ThreadMessageHandler exited
wallet.dat checkpoint
wallet.dat detach
wallet.dat closed
DBFlush(false) ended              21ms
StopNode()
ThreadSocketHandler exited
ipcThread exited
ThreadStakeMinter exiting, 0 threads remaining
ThreadIRCSeed exited
connection timeout
ThreadOpenConnections exited
UPNP_DeletePortMapping() returned : 714
ThreadMapPort exited
Flushed 1 addresses to peers.dat  4ms
Flush(true)
DBFlush(true) ended               0ms
TagCoin exited


Looks like I am trying to connect to something but failing over and over, not sure what I need to change to make that stop.

Thanks for the help!