[ANNOUNCE] paccoin a new SHA256D coin is being introduced

[breakcrypto]

Bill, I on personal experience will help people understand what is best.
When POS coins come, confirmed by the network have more than 600 confirmations at one point become orphans, and this has been going on for a long time.
 My opinion is that the code is specially registered so that coins are received by someone one and not by investors. This coin will not give you the opportunity to earn interest on POS because its code is broken and earns only those under whom the code is written.
 I'm not talking about investing in a few million, I have more than 11 milliards and even I get only orphans.

So the reason this happened is you were staking on a fork. To understand what a fork is think of a tree. It starts as one trunk, then branches go off from the trunk. This is what a fork is. If you mine coins and your coins are on a fork, they will eventually disappear as orphans because the the wallet works its way back to the trunk.

The problem is that there is a "patch" that eliminates this problem as the person says. However the reality this "patch" makes this problem worse for honest wallets.

The way blockchains are supposed to work, is they start with a genesis block and every new block is added is connected to the previous one. The block height starts at 1 then 2, and so on. Every new block that is generated by Proof of Work is either accepted by the network, or it is rejected. So when two computers find a block, they submit it to the network. The network evaluates the two blocks and decides which one is correct and which one should be rejected. When a block is rejected it is orphaned. This is how even bitcoin works. However with paccoin you have the added Proof of Stake block. Miners make Proof of Work blocks (PoW), and holders of the coin make proof of Stake (PoS)  blocks. Now if a miner sumbits a Proof of Work Block at a block height of 254328 for example and a Stake holder produces a Proof of Stake block at the same height of 254328, the network will decide which block is correct. With Proof of Work on Bitcoin, it is the fastest hash an the longest chain the prevails, with Proof of Stake it is determined by Coin Age. This is important. If you own a coin that has not staked and is 30 days old, and another person owns a coin that is 60 days old, if they both try to stake it will be the one with the 60 days that wins. When a proof of stake block comes through the difficulty to mine drops. Because the network's security model is not based on Proof of Work like bitcoin, you never have to worry about buying more and more powerful asic miners.

Now the patch I referred to before that breakcrypto strongly endorses because it doesn't cause his mined blocks to get orphaned prevents the system above from working. What it does is it accepts both blocks, at the same height. that means there are two or more blocks with the same blockheight in his block chain. that means a new block can start growing on either one, therefore causing forks. Although there is no rewind issue for him, he may feel good that his blocks are not orphaning, the problem is it causes the rest of us to have wallets dropping out of sync. So when your wallet is in sync and suddenly it drops out of sync by 420 blocks now you know why.

This did not happen until he started using his modified version.

https://github.com/wmcorless/paccoin/pull/12/commits/6fb4a746889481dbde96410224ecd978c748f75b

First, the patch very clearly only accepts blocks of a height greater than the last recorded height, there can't be two blocks of the same height. I know you dislike accepting reality, but:

Code:

if (pindexNew->bnChainTrust > bnBestChainTrust && pindexNew->nHeight > nBestHeight)

For anyone who doesn't know C++ syntax, that says: does this block have a higher trust score AND does this new block have a height that is higher than the previous blocks I've seen? If not, it skips accepting that block on the chain. If the height is height, the block is accepted -- regardless of whether it's a PoS or PoW block. That said, if two blocks came in with the same height, the PoS block would win, and the PoW block would be discarded due to the way trust is settled in paccoin. Again, there wouldn't be two blocks added to the chain -- one would be accepted by the consensus of the nodes and the other would fail. The code speaks for itself, it's perfectly clear -- if you can't read it, it just proves my point all the more. And it doesn't cause anyone to fall out of sync if the patch were deployed but it isn't so your chain is still broken.

Second, why does the patch actually work? The patch works because it short circuits the broken rewind code in paccoin. Paccoin was an ancient fork of peercoin but hasn't been updated in many years. Peercoin does chain rewinds in an atomic fashion and a stable manner (there have been numerous patches to the rewind logic over the years to address problems); however, paccoin is missing the fast majority of those patches. Transactions are supposed to be picked from the longer fork prior to the rewind and moved to the shorter fork, but it's done in a non-atomic fashion and multi-block forks that hit a PoW block appear to have an issue because they're forward looping instead of starting backwards.

I'll be completely honest, as I have been and as I've stated on the github patch trying to help out Bill, I haven't had time to completely dig through that and still haven't / have no interest at this point.

Third, if you read the peercoin whitepaper it explains exactly the type of issues that can arise when someone has too much stake -- that's exactly what's happening to the paccoin network. See https://peercoin.net/assets/paper/peercoin-paper.pdf .

First the cost of controlling significant stake might be higher than the cost
of acquiring significant mining power, thus raising the cost of attack for such powerful
entities.

Unlike peercoin, in paccoin there are some massive wallets staking ancient blocks.

One of the disadvantages of using total consumed coin age to determine main chain is
that it lowers the cost of attack on the entire block chain of history.

This.

breakcrypto

[1715202232]

1715202232

[1715202232]

1715202232

[1715202232]

1715202232

[wmcorless]

You will lose.
You have 2 options:
- You leave the project by supporting the new team, and then you will stay in the history as a hero, a pioneer
- You keep raging and trying to make mess, then you will finish as a rubish in the bin of history.

ok lawsuit it is

[mybuddylucifer]

hey man, per your experience, have you heard of exchange perform this kind of "coin redemption" before?  I'm digging through the web, can't find any event similar like this one

Apparently Nova Exchange offered this service before. The idea is that if a developer has a new coin and wants to end his old coin, he asks the exchange to perform the swap.

As the swap goes the old coin is ended, and the new coin proceeds.

The difference here is the old coin Paccoin is not going to end because I'm not letting that happen. I was told that Paccoin wasn't going to die, but when I go to the paccoin redemption site, it appears that they want to go from old pac to new pac. This is troubling because that is not what Saul told me. If Saul wants to simply offer a RCO a redemption coin offering as he calls it, so that people buy paccoin and use it to buy another altcoin such as paccoin cash, thats fine by me. But I didn't agree to him using the Paccoin name for a new coin. If he wants to call it paccoin cash and use the name $PAC again I have no problem with this.
I just cant have him calling his new coin paccoin.

You see, that's what troubles me, by the current announcement it means that anyone could talk to the exchange and get them to commit swap.  Lets says I recompile pac with different logo, go to exchange and tell them Im the dev of prl, ask them to do swap the current prl to the pseudo pac

[Aktarus]

Bill, I on personal experience will help people understand what is best.
When POS coins come, confirmed by the network have more than 600 confirmations at one point become orphans, and this has been going on for a long time.
 My opinion is that the code is specially registered so that coins are received by someone one and not by investors. This coin will not give you the opportunity to earn interest on POS because its code is broken and earns only those under whom the code is written.
 I'm not talking about investing in a few million, I have more than 11 milliards and even I get only orphans.

So the reason this happened is you were staking on a fork. To understand what a fork is think of a tree. It starts as one trunk, then branches go off from the trunk. This is what a fork is. If you mine coins and your coins are on a fork, they will eventually disappear as orphans because the the wallet works its way back to the trunk.

The problem is that there is a "patch" that eliminates this problem as the person says. However the reality this "patch" makes this problem worse for honest wallets.

The way blockchains are supposed to work, is they start with a genesis block and every new block is added is connected to the previous one. The block height starts at 1 then 2, and so on. Every new block that is generated by Proof of Work is either accepted by the network, or it is rejected. So when two computers find a block, they submit it to the network. The network evaluates the two blocks and decides which one is correct and which one should be rejected. When a block is rejected it is orphaned. This is how even bitcoin works. However with paccoin you have the added Proof of Stake block. Miners make Proof of Work blocks (PoW), and holders of the coin make proof of Stake (PoS)  blocks. Now if a miner sumbits a Proof of Work Block at a block height of 254328 for example and a Stake holder produces a Proof of Stake block at the same height of 254328, the network will decide which block is correct. With Proof of Work on Bitcoin, it is the fastest hash an the longest chain the prevails, with Proof of Stake it is determined by Coin Age. This is important. If you own a coin that has not staked and is 30 days old, and another person owns a coin that is 60 days old, if they both try to stake it will be the one with the 60 days that wins. When a proof of stake block comes through the difficulty to mine drops. Because the network's security model is not based on Proof of Work like bitcoin, you never have to worry about buying more and more powerful asic miners.

Now the patch I referred to before that breakcrypto strongly endorses because it doesn't cause his mined blocks to get orphaned prevents the system above from working. What it does is it accepts both blocks, at the same height. that means there are two or more blocks with the same blockheight in his block chain. that means a new block can start growing on either one, therefore causing forks. Although there is no rewind issue for him, he may feel good that his blocks are not orphaning, the problem is it causes the rest of us to have wallets dropping out of sync. So when your wallet is in sync and suddenly it drops out of sync by 420 blocks now you know why.

This did not happen until he started using his modified version.

https://github.com/wmcorless/paccoin/pull/12/commits/6fb4a746889481dbde96410224ecd978c748f75b

First, the patch very clearly only accepts blocks of a height greater than the last recorded height, there can't be two blocks of the same height. I know you dislike accepting reality, but:

Code:

if (pindexNew->bnChainTrust > bnBestChainTrust && pindexNew->nHeight > nBestHeight)

For anyone who doesn't know C++ syntax, that says: does this block have a higher trust score AND does this new block have a height that is higher than the previous blocks I've seen? If not, it skips accepting that block on the chain. If the height is height, the block is accepted -- regardless of whether it's a PoS or PoW block. That said, if two blocks came in with the same height, the PoS block would win, and the PoW block would be discarded due to the way trust is settled in paccoin. Again, there wouldn't be two blocks added to the chain -- one would be accepted by the consensus of the nodes and the other would fail. The code speaks for itself, it's perfectly clear -- if you can't read it, it just proves my point all the more. And it doesn't cause anyone to fall out of sync if the patch were deployed but it isn't so your chain is still broken.

Second, why does the patch actually work? The patch works because it short circuits the broken rewind code in paccoin. Paccoin was an ancient fork of peercoin but hasn't been updated in many years. Peercoin does chain rewinds in an atomic fashion and a stable manner (there have been numerous patches to the rewind logic over the years to address problems); however, paccoin is missing the fast majority of those patches. Transactions are supposed to be picked from the longer fork prior to the rewind and moved to the shorter fork, but it's done in a non-atomic fashion and multi-block forks that hit a PoW block appear to have an issue because they're forward looping instead of starting backwards.

I'll be completely honest, as I have been and as I've stated on the github patch trying to help out Bill, I haven't had time to completely dig through that and still haven't / have no interest at this point.

Third, if you read the peercoin whitepaper it explains exactly the type of issues that can arise when someone has too much stake -- that's exactly what's happening to the paccoin network. See https://peercoin.net/assets/paper/peercoin-paper.pdf .

First the cost of controlling significant stake might be higher than the cost
of acquiring significant mining power, thus raising the cost of attack for such powerful
entities.

Unlike peercoin, in paccoin there are some massive wallets staking ancient blocks.

One of the disadvantages of using total consumed coin age to determine main chain is
that it lowers the cost of attack on the entire block chain of history.

This.

breakcrypto

Great job breakcrypto! Well done.

[hroub]

PACCOIN PAC

EXCHANGES

Cryptopia.co.nz https://www.cryptopia.co.nz/Exchange?market=PAC_BTC
Tradesatoshi.com https://tradesatoshi.com/Exchange/?market=PAC_BTC
Novaexchange https://novaexchange.com/market/BTC_PAC/
Pacexc https://pacexc.com (coming soon)
Yobit.net https://yobit.net/en/trade/PAC/BTC

Official Websites:
http://www.paccoinofficial.com

Edit 1/23/2018 - Separating from Paccoin community and posting of official website.
Edit 12/16/2017 - New websites added to reflect Paccoin community websites.
EDIT July 28, 2014 - Please upgrade to new client dated July 15, 2014
Edit February 20, 2017 - New Exchanges Added
Edit November 1, 2017 - New Exchange Added, link to wallet updated.

Hi! You are missing an exchange:

https://btcpop.co/Exchange/PAC

[DOGEbubble]

..................................................................

Hi! You are missing an exchange:

https://btcpop.co/Exchange/PAC

Wow, a lending platform; just in time for PAC.

[wmcorless]

Hi! You are missing an exchange:
https://btcpop.co/Exchange/PAC

Added! Thanks.

[Vovsla]

how do i mine this coin ?
 
Where can I buy it? which exchange website ?

How can I download  wallet? i need link.

https://yobit.io/ru/
https://yobit.io/en/
https://paccoin.net/
https://wallets.paccoin.net/

[oleksii777]

Hello everybody. How do you deal with the old coins of paccoin, do you need to change them to new coins? Does this make sense? And if a person leaves old coins for himself, what will happen?

[seamonkeydoare]

You will lose.
You have 2 options:
- You leave the project by supporting the new team, and then you will stay in the history as a hero, a pioneer
- You keep raging and trying to make mess, then you will finish as a rubish in the bin of history.

ok lawsuit it is

This is crypto there's no suits in crypto.

option 3
hardfork = new chain = new game
oldchain keeps the PAC market slots 

[Jaycee_nl]

ok lawsuit it is

Mr Corless,  you are acting as a child. And as a fool. Please cut this crap. Start a new coin or whatever, but stop here.

[mickvincent]

Hello Mr Corless,

there is no chance to win a lawsuit against the new and official paccoin team.

In around August - September 2017 i was a part of the "paccoin ressurection mission". We tried everything to contact you, wrote an email and even called you. We basically got no answer whatsoever.

Now paccoin has found a new home, with more than 1,200 online members on discord. And you think, just because you created this coin and not to forget, abandoned it, you can just have a comeback and threaten the people with a lawsuit? This is a very low game you are playing. Really low. You should be ashamed of yourself.

In my personal opinion you're idea of the paccoin was such bullshit. An artificial island? Pacific coin? Oh man.
It might be the same name but with a whole different meaning.

Let those people do their thing. @paccointeam: don't let Mr. Corless join the team. He will ruin the whole project.

Best regards,
Mick

[GimoIng]

If you guys keep this up, theres going to be a lawsuit, quit pretending you are paccoin.

A lawsuit on what?? This is a decentralized coin without any registered trademark, or you did it?
Be serious, here are not only kids.

How about collaborating with new dev team? It would be useful to everyone!

[seamonkeydoare]

MR.cORLESS

Is granted the PAC listed markets

The $PAC or 2PAC group needs their own market listings/thread.

Swap if you wish.
or not. 

[mybuddylucifer]

If you guys keep this up, theres going to be a lawsuit, quit pretending you are paccoin.

A lawsuit on what?? This is a decentralized coin without any registered trademark, or you did it?
Be serious, here are not only kids.

How about collaborating with new dev team? It would be useful to everyone!

I wonder who paid the fee to list on Cryptopia

[AFPOL]

Hello friends
On "https://wallets.paccoin.net/#windows" There are three wallets to download. Which one is a wallet for the old PACcoin? and which one is for a new PACcoin?

1- DOWNLOAD - MEGA.NZ Mirror #1
2- DOWNLOAD - Windows Wallet Mirror #2
3- DOWNLOAD - Windows Wallet Mirror #3 (OLDER VERSION)

thanks for your guide

[OrzoCoins27]

Hello friends
On "https://wallets.paccoin.net/#windows" There are three wallets to download. Which one is a wallet for the old PACcoin? and which one is for a new PACcoin?

1- DOWNLOAD - MEGA.NZ Mirror #1
2- DOWNLOAD - Windows Wallet Mirror #2
3- DOWNLOAD - Windows Wallet Mirror #3 (OLDER VERSION)

thanks for your guide

I have used #2 at first and had no issues until it was being quarantined by my pc, which I resolved.
I had since used the MEGA, which did the same thing with the quarantine but same thing happened, but this time no more quarantine issues as it simply wont work at all.
The wallet is off my pc and i cant load anything anymore, i get this message

ShellExecuteEx failed; code - 1073740791

I have no idea what that means and am worried i cannot get to my wallet again.
I have also since tried re-downloading from the site but that goes to an error page as well.

Any help is much appreciated.

[mybuddylucifer]

Hello friends
On "https://wallets.paccoin.net/#windows" There are three wallets to download. Which one is a wallet for the old PACcoin? and which one is for a new PACcoin?

1- DOWNLOAD - MEGA.NZ Mirror #1
2- DOWNLOAD - Windows Wallet Mirror #2
3- DOWNLOAD - Windows Wallet Mirror #3 (OLDER VERSION)

thanks for your guide

I have used #2 at first and had no issues until it was being quarantined by my pc, which I resolved.
I had since used the MEGA, which did the same thing with the quarantine but same thing happened, but this time no more quarantine issues as it simply wont work at all.
The wallet is off my pc and i cant load anything anymore, i get this message

ShellExecuteEx failed; code - 1073740791

I have no idea what that means and am worried i cannot get to my wallet again.
I have also since tried re-downloading from the site but that goes to an error page as well.

Any help is much appreciated.

Hi there, before you do anything, probably back up your entire installation folder:
C:\Users\XXX\AppData\Roaming\paccoin

Pay attention to your dat files.

I have no problem downloading from the Mega.nz site.

Make sure windows defender set the directory as part of exclusion.

Install the wallet.  Recopy the dat.

Try run under compatibility mode (vista sp2 worked for me) and under administrator privilege.  Restore wallet.dat.

Good luck.

[OrzoCoins27]

Hello friends
On "https://wallets.paccoin.net/#windows" There are three wallets to download. Which one is a wallet for the old PACcoin? and which one is for a new PACcoin?

1- DOWNLOAD - MEGA.NZ Mirror #1
2- DOWNLOAD - Windows Wallet Mirror #2
3- DOWNLOAD - Windows Wallet Mirror #3 (OLDER VERSION)

thanks for your guide

I have used #2 at first and had no issues until it was being quarantined by my pc, which I resolved.
I had since used the MEGA, which did the same thing with the quarantine but same thing happened, but this time no more quarantine issues as it simply wont work at all.
The wallet is off my pc and i cant load anything anymore, i get this message

ShellExecuteEx failed; code - 1073740791

I have no idea what that means and am worried i cannot get to my wallet again.
I have also since tried re-downloading from the site but that goes to an error page as well.

Any help is much appreciated.

Hi there, before you do anything, probably back up your entire installation folder:
C:\Users\XXX\AppData\Roaming\paccoin

Pay attention to your dat files.

I have no problem downloading from the Mega.nz site.

Make sure windows defender set the directory as part of exclusion.

Install the wallet.  Recopy the dat.

Try run under compatibility mode (vista sp2 worked for me) and under administrator privilege.  Restore wallet.dat.

Good luck.

I got to a file paccoin under appdata but then you lost me as all the rest of that is gibberish to me. Again basic pc skills. I have files saved all over the place at this point, have no clue which to rid or keep, which one is good or bad. Ive been reloading this dang wallet so many times there is dat files everywhere as well as a handful of back up files. And all hose files in m pc-appdata-paccoin i honestly have no clue what they all mean.

[OrzoCoins27]

Hello friends
On "https://wallets.paccoin.net/#windows" There are three wallets to download. Which one is a wallet for the old PACcoin? and which one is for a new PACcoin?

1- DOWNLOAD - MEGA.NZ Mirror #1
2- DOWNLOAD - Windows Wallet Mirror #2
3- DOWNLOAD - Windows Wallet Mirror #3 (OLDER VERSION)

thanks for your guide

I have used #2 at first and had no issues until it was being quarantined by my pc, which I resolved.
I had since used the MEGA, which did the same thing with the quarantine but same thing happened, but this time no more quarantine issues as it simply wont work at all.
The wallet is off my pc and i cant load anything anymore, i get this message

ShellExecuteEx failed; code - 1073740791

I have no idea what that means and am worried i cannot get to my wallet again.
I have also since tried re-downloading from the site but that goes to an error page as well.

Any help is much appreciated.

Hi there, before you do anything, probably back up your entire installation folder:
C:\Users\XXX\AppData\Roaming\paccoin

Pay attention to your dat files.

I have no problem downloading from the Mega.nz site.

Make sure windows defender set the directory as part of exclusion.

Install the wallet.  Recopy the dat.

Try run under compatibility mode (vista sp2 worked for me) and under administrator privilege.  Restore wallet.dat.

Good luck.

I got to a file paccoin under appdata but then you lost me as all the rest of that is gibberish to me. Again basic pc skills. I have files saved all over the place at this point, have no clue which to rid or keep, which one is good or bad. Ive been reloading this dang wallet so many times there is dat files everywhere as well as a handful of back up files. And all hose files in m pc-appdata-paccoin i honestly have no clue what they all mean.

This is what happens on the PacCoin website when trying to download Wallet #2 Mirror

Hmmm...can’t reach this page
Try this
Make sure you’ve got the right web address: http://107.189.41.251
Search for "http://107.189.41.251" on Bing
Refresh the page
Details
This website could not be found.
Error Code: INET_E_RESOURCE_NOT_FOUND