BitShares PTS (formerly ProtoShares) Mandatory Upgrade & Snapshot Announcement

[prophetx]

Selling PTS for 0.08 BTC each.
I have 100 PTS.

posted this here, on my google drive order book

http://bit.ly/protoshares

[bytemaster]

Regarding fairness of the mining I can tell you all this:

1) There are at least 3 or 4 'supper clusters' mining this thing, none of which belong to Invictus
2) Our mining hardware was delayed in shipping, we just received the first batch of machines so we were left to mine with about a dozen machines we had around.
3) To supplement our mining we had 100 instances in digital ocean, but because of the high-frequency of finding blocks the machines were too slow to "get up momentum" before being reset by the next block.
4) The client was not built by Invictus, but for Invictus by FreeTrade.   FreeTrade forgot to change the difficulty adjustment period like we requested and it resulted in the need for a hard fork.
5) Our seed nodes had 1000's of connections in the very first hour. 

Connectivity issues in the network were a result of the linux client crashing after the fork, this took out the seed nodes as well until we got it fixed.

Overall I would consider it a lottery where the people who benefited the most were those who could spin up 1000 node clusters.

In my own mining pool I had over 3000 connections.   Now my pool has less than 50% of the hash power thanks to ypool and their faster proof of work.

Anyway, this is not a situation where Invictus was running away with the money supply and *everyone* had equal opportunity to mine.   

I know that one user of my pool has walked away with ~30,000 PTS with 1800 nodes connected at the high.

So, PTS is available to anyone who is willing to invest in the time and effort to mine it or buy it.     

Am I upset that we didn't rake in a large part of the supply?  No.  Because the goal was to decentralize it and that is exactly what happened.   

[prophetx]

Regarding fairness of the mining I can tell you all this:

1) There are at least 3 or 4 'supper clusters' mining this thing, none of which belong to Invictus
2) Our mining hardware was delayed in shipping, we just received the first batch of machines so we were left to mine with about a dozen machines we had around.
3) To supplement our mining we had 100 instances in digital ocean, but because of the high-frequency of finding blocks the machines were too slow to "get up momentum" before being reset by the next block.
4) The client was not built by Invictus, but for Invictus by FreeTrade.   FreeTrade forgot to change the difficulty adjustment period like we requested and it resulted in the need for a hard fork.
5) Our seed nodes had 1000's of connections in the very first hour. 

Connectivity issues in the network were a result of the linux client crashing after the fork, this took out the seed nodes as well until we got it fixed.

Overall I would consider it a lottery where the people who benefited the most were those who could spin up 1000 node clusters.

In my own mining pool I had over 3000 connections.   Now my pool has less than 50% of the hash power thanks to ypool and their faster proof of work.

Anyway, this is not a situation where Invictus was running away with the money supply and *everyone* had equal opportunity to mine.   

I know that one user of my pool has walked away with ~30,000 PTS with 1800 nodes connected at the high.

So, PTS is available to anyone who is willing to invest in the time and effort to mine it or buy it.     

Am I upset that we didn't rake in a large part of the supply?  No.  Because the goal was to decentralize it and that is exactly what happened.   

Well  I am glad that the pools are up and running, finally getting some PTS so I think I will go and hook up a few more

[Lauda]

They seem to be priced pretty high without an exchange.

[bytemaster]

They seem to be priced pretty high without an exchange.

Actually, they are incredibly cheap considering their value proposition relative to feather coin.

[Orrechorre]

They seem to be priced pretty high without an exchange.

there is one exchange https://www.coingrounds.com, it is still in beta but it works really good.

[l3jmr]

They seem to be priced pretty high without an exchange.

there is one exchange https://www.coingrounds.com, it is still in beta but it works really good.

This aint even running yet ? or i dont know how to use it

[flower1024]

They seem to be priced pretty high without an exchange.

there is one exchange https://www.coingrounds.com, it is still in beta but it works really good.

This aint even running yet ? or i dont know how to use it

url is: https://www.coingrounds.com/login

[l3jmr]

registration disabled...

[NUFCrichard]

The Block Rate is still way off, about 1 per minute.  Will we get another massive difficulty increase?

[Lauda]

They seem to be priced pretty high without an exchange.

there is one exchange https://www.coingrounds.com, it is still in beta but it works really good.

Okay looks good.

[testz]

Chinese PTS/CNY exchange: http://www.btc38.com/trade.html?btc38_trade_coin_name=pts

[bytemaster]

The Block Rate is still way off, about 1 per minute.  Will we get another massive difficulty increase?

Some people introduced new miners that are 5x faster... so I expect a 8x+ difficulty increase within the next 20 hours.

[lajz99]

The Block Rate is still way off, about 1 per minute.  Will we get another massive difficulty increase?

Some people introduced new miners that are 5x faster... so I expect a 8x+ difficulty increase within the next 20 hours.

What does this mean?  and where do i get it?

[Lauda]

Chinese PTS/CNY exchange: http://www.btc38.com/trade.html?btc38_trade_coin_name=pts

So the Chinese have already added it, interesting.

[NUFCrichard]

The Block Rate is still way off, about 1 per minute.  Will we get another massive difficulty increase?

Some people introduced new miners that are 5x faster... so I expect a 8x+ difficulty increase within the next 20 hours.

Seems like a big increase but I guess it is better for then to try to get a handle on it quickly otherwise it'll be all mined out in the next few weeks!

[jonytk]

just installed but not connecting, any nodes?

[testz]

just installed but not connecting, any nodes?

Be sure that you install version 0.2.0, list of nodes you can get here: http://bitsharestalk.org/index.php?topic=172.0
Current block 13686

[testz]

ypool.net down

[adoalli]

ypool.net down