[ANN] [PXC] Phoenixcoin v0.6.6.2 ~ NeoScrypt Original ~ 10 Years Old

[cyberspacemonkey]

Why is it that I'm unable to transfer my Phoenixcoin balance from my wallet to Exchangers? I get "not a valid Phoenix address" error. Can someone explain?  

Nevermind, I've just realized I was just mining phoney coins 

[1714307528]

1714307528

[1714307528]

1714307528

[ghostlander]

So it sounds like even more coins will be minted every month.

I think the idea is to cut inflation and dilution, not increase it.

There are no changes to block rewards. There is also a block limiter active to prevent instamining at any difficulty.

[Conqueror]

393824! almost there

[lucazane]

http://theblocksfactory.com/ will setup a phoenixcoin (neoscrypt) pool.

We have a working pool + a working stratum cpuminer tested on the testnet, so everything is working great

There is still more than 2500 blocks left, so I will setup the pool in some hours.

[Vlad2Vlad]

393824! almost there

Almost there for what?  Was there an update done?  Thanks!

[lucazane]

393824! almost there

Almost there for what?  Was there an update done?  Thanks!

The PoW algorithm change to Neoscrypt

[Vlad2Vlad]

393824! almost there

Almost there for what?  Was there an update done?  Thanks!

The PoW algorithm change to Neoscrypt

Cool thanks.  So there's an active dev here once again?

What about dropping the subsidy and max supply with the next update?  Anybody think of doing that?  It's the best way to stop the downward pressure on selling.  Thanks!

Cheers!

[ghostlander]

393824! almost there

Almost there for what?  Was there an update done?  Thanks!

The PoW algorithm change to Neoscrypt

Cool thanks.  So there's an active dev here once again?

What about dropping the subsidy and max supply with the next update?  Anybody think of doing that?  It's the best way to stop the downward pressure on selling.  Thanks!

Cheers!

I haven't been going away or whatever.

The coin supply is very likely to stay at 98 million, but the distribution may be adjusted according to market demands. Halving doesn't seem to work well, a smoother solution is more welcome.

[Vlad2Vlad]

393824! almost there

Almost there for what?  Was there an update done?  Thanks!

The PoW algorithm change to Neoscrypt

Cool thanks.  So there's an active dev here once again?

What about dropping the subsidy and max supply with the next update?  Anybody think of doing that?  It's the best way to stop the downward pressure on selling.  Thanks!

Cheers!

I haven't been going away or whatever.

The coin supply is very likely to stay at 98 million, but the distribution may be adjusted according to market demands. Halving doesn't seem to work well, a smoother solution is more welcome.

98 million is a lot of coins compared to most successful alts.  I don't see a reason or need for that much dilution.  Why not cut the subsidy and max supply back which is identical to a stock BuyBack for a public corporation.

That's a simple update and it's as smooth as can be in lowering the effective and real inflation as well as the dilution.  It's a great solution some of the top coins have already employed which prepares them better for the comming demand influx.  Top coins like Dark, NAUT, Casino and others. 

But unlike those, Phoenix has had a longer time to distribute itself so such a move would benefit a lot more people.  I hope you seriously consider this option.

Thanks!

[marada]

Reducing subsidy will make mining unprofitable.
No mining profitability -> no network hashrate -> no security -> no coin value.

We have plenty lots of coins with very limited supply, especially POW/POS coins that are completely forgotten after POW period was finished.

[yang5034]

http://theblocksfactory.com/ will setup a phoenixcoin (neoscrypt) pool.

We have a working pool + a working stratum cpuminer tested on the testnet, so everything is working great

There is still more than 2500 blocks left, so I will setup the pool in some hours.

no windows stratum cpuminer ?

[Vlad2Vlad]

Reducing subsidy will make mining unprofitable.
No mining profitability -> no network hashrate -> no security -> no coin value.

We have plenty lots of coins with very limited supply, especially POW/POS coins that are completely forgotten after POW period was finished.

So supply and demand doesn't work in this world?

There are only 42 total coins for 42Coin and that coin is worth thousands per coin.  

Your theory says that coins with less than say 21 million coins are not profitable to mine which is actually the exact opposite or reality.

Investors look at max supply when deciding to buy a coin and they avoid coins which they feel will dilute them too much which in turn drops the value of a coin which means you have to print more and more coins, a terrible reality created out of fear not logic.

If you cut the supply the price would go higher to meet the lower supply and miners would make exactly what they're making now just off fewer, more valuable coins.  It might take a few weeks or months to reach optimum optimorum but that's better than slowly bleeding this coin to death with inflation and dilution.

[ghostlander]

http://theblocksfactory.com/ will setup a phoenixcoin (neoscrypt) pool.

We have a working pool + a working stratum cpuminer tested on the testnet, so everything is working great

There is still more than 2500 blocks left, so I will setup the pool in some hours.

no windows stratum cpuminer ?

CPUminer supports Stratum, Getwork and Getblocktemplate.

[ghostlander]

98 million is a lot of coins compared to most successful alts.  I don't see a reason or need for that much dilution.  Why not cut the subsidy and max supply back which is identical to a stock BuyBack for a public corporation.

That's a simple update and it's as smooth as can be in lowering the effective and real inflation as well as the dilution.  It's a great solution some of the top coins have already employed which prepares them better for the comming demand influx.  Top coins like Dark, NAUT, Casino and others. 

When DRK was introduced, they adrvertised trillions of coins, so no one cared much about their 2 million instamine. When it got accepted by the market, they pulled a trick to reduce the total to some 20 million. Profit, yeah?

[subSTRATA]

98 million is a lot of coins compared to most successful alts.  I don't see a reason or need for that much dilution.  Why not cut the subsidy and max supply back which is identical to a stock BuyBack for a public corporation.

That's a simple update and it's as smooth as can be in lowering the effective and real inflation as well as the dilution.  It's a great solution some of the top coins have already employed which prepares them better for the comming demand influx.  Top coins like Dark, NAUT, Casino and others.  

When DRK was introduced, they adrvertised trillions of coins, so no one cared much about their 2 million instamine. When it got accepted by the market, they pulled a trick to reduce the total to some 20 million. Profit, yeah?

Indeed, that was one pathetic but successful scam. It is so damn easy to scam people around here and, worst of all, most don't even get it unless many people who have some
authority start talking about scam. Everyone else is called FUDer and whatnot.

On PXC matters, I have installed newest wallet and noticed it flags transactions a bit weird. When coins are deposited to wallet from outside or inside (sending to my own address)
the amount is not shown under "Unconfirmed:" on main tab until there is at least 1 confirmation. Coins are added to "Balance:" only after 6 confirmations. It makes no sense to hide
coins until 1st confirmation nor it makes sense to call coins unconfirmed until 6 confirmations - there is no guarantee coins are actualy deposited even after much more confirmations.
The only way to guarantee coins were deposited is checkpoint.

Another things worth considering:

1. Upgrade database to LevelDB.
2. Add better looking logo to wallet (I liked the 1st ever logo for PXC, why it was changed at all?).
3. Main window size is not saved between sessions.
4. Add temporary IP filter (blacklist) for nodes using v0.6.5.3 or older wallets else they will be sucking upload bandwidth from nodes using v0.6.6 or newer wallets. With many other
coins, I have observed situation where certain nodes were not upgraded for months and were sucking up so much of my upload bandwidth that I had to blacklist them via firewall.
Some coins successfuly handled the issue (Flappycoin) by just ignoring nodes which does not comply with newest ruleset while situation with many others is still a horror (Mooncoin).

[lucazane]

http://pxc.theblocksfactory.com/

is ready for blocks > 400k

you can see how to install the cpuminer on the gettingstarted page of the pool

happy cpu mining

[ChekaZ]

PhoenixCoin giveaway: https://cryptocointalk.com/topic/14155-phoenixcoin-giveaway-just-before-it-hits-neoscrypt/

You can either post here or at cryptocointalk.com

Regards,
ChekaZ

[ghostlander]

98 million is a lot of coins compared to most successful alts.  I don't see a reason or need for that much dilution.  Why not cut the subsidy and max supply back which is identical to a stock BuyBack for a public corporation.

That's a simple update and it's as smooth as can be in lowering the effective and real inflation as well as the dilution.  It's a great solution some of the top coins have already employed which prepares them better for the comming demand influx.  Top coins like Dark, NAUT, Casino and others.  

When DRK was introduced, they adrvertised trillions of coins, so no one cared much about their 2 million instamine. When it got accepted by the market, they pulled a trick to reduce the total to some 20 million. Profit, yeah?

Indeed, that was one pathetic but successful scam. It is so damn easy to scam people around here and, worst of all, most don't even get it unless many people who have some
authority start talking about scam. Everyone else is called FUDer and whatnot.

On PXC matters, I have installed newest wallet and noticed it flags transactions a bit weird. When coins are deposited to wallet from outside or inside (sending to my own address)
the amount is not shown under "Unconfirmed:" on main tab until there is at least 1 confirmation. Coins are added to "Balance:" only after 6 confirmations. It makes no sense to hide
coins until 1st confirmation nor it makes sense to call coins unconfirmed until 6 confirmations - there is no guarantee coins are actualy deposited even after much more confirmations.
The only way to guarantee coins were deposited is checkpoint.

Another things worth considering:

1. Upgrade database to LevelDB.
2. Add better looking logo to wallet (I liked the 1st ever logo for PXC, why it was changed at all?).
3. Main window size is not saved between sessions.
4. Add temporary IP filter (blacklist) for nodes using v0.6.5.3 or older wallets else they will be sucking upload bandwidth from nodes using v0.6.6 or newer wallets. With many other
coins, I have observed situation where certain nodes were not upgraded for months and were sucking up so much of my upload bandwidth that I had to blacklist them via firewall.
Some coins successfuly handled the issue (Flappycoin) by just ignoring nodes which does not comply with newest ruleset while situation with many others is still a horror (Mooncoin).

If a transaction hasn't made itself to a block and resides in the memory pool only, its amount gets deducted from the available balance and becomes reserved. This transaction is shown in the transaction list as a pending one. When it gets the 1st confirmation, it becomes unconfirmed until 6 confirmations. The checkpoint depth should be always less or equal to these 6 confirmations.

1. I've upgraded to BerkeleyDB v5.3 instead of LeveDB. It's a piece of cake to get LevelDB corrupted beyond repair. I've seen BerkeleyDB recovering without much trouble after very serious hardware failures. LevelDB is a pain in the arse.

2. The original brown logo belongs to the founding scammers.

3. It has never been saved.

4. v0.6.5.3 and older nodes will be banned quickly after the switch. 2 blocks with incorrect PoWs and say good-bye. Also protects against not very smart DDoS'ers. The following wallet update will drop all connections reporting old protocol versions.

[cyberspacemonkey]

Are there any advantages on hashing rate for mining Neoscrypt on Linux vs mining on Windows? is it any faster? 

[ghostlander]

Are there any advantages on hashing rate for mining Neoscrypt on Linux vs mining on Windows? is it any faster? 

No significant difference.