[ANN][SCRYPT] KlondikeCoin ★ Cryptsy.com ★ Prepaid VISA Cards ★ 0% Premine [KDC]

[holzer]

did anyone contact coinmarket.io? They are due to be back online sometime today.

[KlondikeCoin]

did anyone contact coinmarket.io? They are due to be back online sometime today.

I tweeted them earlier this morning.

delaying official wallet may lead to a  fatal mistake. we may lose miners.  !!!. it is after the wallet we need to put our combined effort to get kdc to reach next aurora.  if we can create a big  hype like doge by social media and advertising ---> things will go unpredictable [ you may able to buy a pendrive for 0.1 kdc ]

The wallets in the process of compiling, this usually takes a little while, we'll then test it and upload it for release.

[barryzand]

did anyone contact coinmarket.io? They are due to be back online sometime today.

I tweeted them earlier this morning.

delaying official wallet may lead to a  fatal mistake. we may lose miners.  !!!. it is after the wallet we need to put our combined effort to get kdc to reach next aurora.  if we can create a big  hype like doge by social media and advertising ---> things will go unpredictable [ you may able to buy a pendrive for 0.1 kdc ]

The wallets in the process of compiling, this usually takes a little while, we'll then test it and upload it for release.

you got a time estimate? LOL my coins want out of the pool 

[rizzman]

Am i correct in thinking when the new wallet is compiled and released we will have to.

- Backup wallet.dat file
- Delete all contents of appdata/roaming/klondikecoin
- Restore wallet.dat backup to folder
- Open wallet and let it re-sync

+ add the new config file with latest nodes to the dir

What are the latest nodes? I am currently using
addnode=37.59.28.23
addnode=162.243.255.143
addnode=88.208.205.38
addnode=88.208.205.216
addnode=88.208.206.55
addnode=88.208.207.68
addnode=88.208.207.73

...but the 1st page announcement only shows 3 and when I populate them, the wallet wont sync... Am i to assume these are invalid now?

[tminer]

Am i correct in thinking when the new wallet is compiled and released we will have to.

- Backup wallet.dat file
- Delete all contents of appdata/roaming/klondikecoin
- Restore wallet.dat backup to folder
- Open wallet and let it re-sync

+ add the new config file with latest nodes to the dir

What are the latest nodes? I am currently using
addnode=37.59.28.23
addnode=162.243.255.143
addnode=88.208.205.38
addnode=88.208.205.216
addnode=88.208.206.55
addnode=88.208.207.68
addnode=88.208.207.73

...but the 1st page announcement only shows 3 and when I populate them, the wallet wont sync... Am i to assume these are invalid now?

the new wallet was not yet released. if you can able to build the wallet with latest source code, do that and use that nodes, otherwise wait for the wallet as we are doing.

[KlondikeCoin]

Am i correct in thinking when the new wallet is compiled and released we will have to.

- Backup wallet.dat file
- Delete all contents of appdata/roaming/klondikecoin
- Restore wallet.dat backup to folder
- Open wallet and let it re-sync

+ add the new config file with latest nodes to the dir

What are the latest nodes? I am currently using
addnode=37.59.28.23
addnode=162.243.255.143
addnode=88.208.205.38
addnode=88.208.205.216
addnode=88.208.206.55
addnode=88.208.207.68
addnode=88.208.207.73

...but the 1st page announcement only shows 3 and when I populate them, the wallet wont sync... Am i to assume these are invalid now?

Read the last pages DO NOT MOVE COINS AROUND, WAIT FOR THE NEW WALLETS!!!

Regards
Jilixi

[avanda1121]

It is good calculator frm cointweak or from coinwarez?
 

[jackdminer]

How do we go about getting CoinedUp to resume trading?

Is there a fixed Windows wallet?

The new reward/coin price appear to put the coins security in jeopardy due to the fact that miners to not give away hash power and now the coin can not attract a large enough diverse enough network hash given the current reward.

Assuming the benchmark pay rate is Litecoin, the new sustainable net hash for KDC will settle out at 100 Mh/s or so with the price @ .0000365 on Poloniex (excluding the .2% exchange fee).

The next time a fork is planned, it might be a good idea to playbook it with the other stakeholders including the exchanges, and pools comprising 70% of the net hash.

What will be done to address these fatal issues that now exist?

We have mailed Coinedup that new source code is available, Windows Wallet is being compiled (You can compile it yourself if you want)

It has been one day since fork how about you calm down and lets settle one thing at a time?

We have taken every step we had to take after this bad fork happened, we can only wait to get added back at Coinedup.

Kindest Regards
Jilixi

Surely the massive reduction in network hash was anticipated with the drastic reward reduction. Proof of work isn't free for the miner to generate you know.  
1Mh/s is worth ~$4 USD/day.  

The drastic reward reduction will not support a large network hash at current prices, and reward reduction will not significantly improve the coins value.  

I am calm, but the relationship of reward and supported network hash should have been well understood before the fork.  

Let us define a few things:
(R)eward per day of the network in KDC
(V)alue of KDC
(H)ash rate average day of the network in Mh/s

(1/H)*R = KDC mined per day of 1 Mh/s assuming 0 variance.

Before Fork and fork hype KDC these were the mining conditions and made me a happy quiet KDC miner:
R = 110880
V = .000034 BTC
H = 450

So 1 Mh/s running 24 hours is calculated to earn 246.4 KDC. Of course this is without any payout variance but that's beyond this scope.

The short story is 1Mh/s could earn $5 a day give or take more reliably then most coins with a decent market on CoinedUp.


If hash rate remained unchanged with the new reward (R)eward of 20160, 1 Mh/s avg/day earns 44.8 KDC or 94 US cents.  Certainly there are several liquid markets that reward proof of work more favorably, so workers will just move to the higer paying jobs since there is no barrier to employment aside from finding and switching pools.


The current conditions of  H = 180, V = .0000362 yields 112 KDC ($2.50 USD), suggest that the smart workers already took new jobs and it is just a matter of time before other market participants catch on.

So one of two things will happen to the net hash

1) hash rate reduces to 80~90 total net hash to support the rate of pay for proof of work currently offered by other coins.
2) the hashing power of the community exceeds the competitive value for the proof of work resulting in consolidation of network hash in just a few pools jeopardizing security, and hording of coins creating illiquid markets.


I say all this not to slam the coin or be a 'Debbie downer', but rather this was the first coin that seemed to not ride the difficulty / payout roller coaster and had a CoinedUp market with enough price volatility and liquidity to create an entertaining and profitable 'next step' of exchanging the coins. Of course up until the Whale came in Thursday or Friday with large BID sizes freezing the art of price discovery

With the new reward so small the only way to increase hash rate is to increase the coins value, but that doesn't just magically happen because the reward was reduced.  Absent outside market demand the devs are going to have to open their wallets and buy every offer up to .0001 BTC just to sustain a network hash of 250 Mh/s.  

 

[placebo]

Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

[Jes159]

WINDOWS WALLET IS DONE, JUST GETTING IT UP FOR DOWNLOAD. WILL EDIT THIS POST WHEN IT'S READY.

EDIT: Temporary link:

https://mega.co.nz/#!jogBCbAb!QH84AKk1gOT8H9wccSJrN0WrdEZ_1gOJ-jtq7snxoBE

Instructions to get the new wallet working:

Step 1: Backup your wallet.dat (can use your old wallet or new wallet to do this)
Step 2: close your wallet
Step 3: browse to %appdata% (you can enter %appdata% into the "run" command box Start > Run) %appdata% is a hidden file so may not be visible by default.
Step 4: open the KlondikeCoin folder
Step 5: Delete the 2 folders "blocks" and "chainstate"
Step 6: Open new wallet, your coins will show as unconfirmed as it catches up.

[barryzand]

yes... good point indeed.... so how much btc you think is needed to pump the price in a kind of way it attracts miners again?


(i hope youre wrong since the fork only took place 20hrs ago... and it had trouble with forkingissues... )

[KlondikeCoin]

BOTH THE MAC AND WINDOWS WALLET LINKS AT FIRST PAGE HAVE BEEN UPDATED

REMEMBER TO BACKUP YOUR WALLET.DAT

AND USE THE NODES AT FIRST PAGE AS WELL

[orddie]

any idea when you will have your HTML nerd update the links on the site?

[jackdminer]

Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

A reduction in BLOCK REWARD does not reduce existing supply, it only reduces the future growth of supply they are not the same thing.  

Its great that more merchants accept KDC. Its great that there is more than one exchange to trade KDC. However if the merchants and exchanges accept/trade other currencies what drives demand to acquire KDC other then speculation?

Example:
If my local hardware store accepted KDC as payment along with BTC and USD, as a non miner or holder of KDC I would choose the most economical form of payment to me which will always be the method without the real and opportunity cost associated with exchanging coin/currency x for KDC.

KDC as a form of payment alone does not drive new resources to KDC.

No crypto coin can survive the death of its network hash.  No one will provide hashing power for less then market rates for long.

[azurex]

Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

A reduction in BLOCK REWARD does not reduce existing supply, it only reduces the future growth of supply they are not the same thing.  

Its great that more merchants accept KDC. Its great that there is more than one exchange to trade KDC. However if the merchants and exchanges accept/trade other currencies what drives demand to acquire KDC other then speculation?

Example:
If my local hardware store accepted KDC as payment along with BTC and USD, as a non miner or holder of KDC I would choose the most economical form of payment to me which will always be the method without the real and opportunity cost associated with exchanging coin/currency x for KDC.

KDC as a form of payment alone does not drive new resources to KDC.

No crypto coin can survive the death of its network hash.  No one will provide hashing power for less then market rates for long.

Not to be a hater, but we clearly have someone that either missed out on buying KDC, or just wants to buy even more KDC at low panic prices .

Im not saying that you are wrong, but you recently registered and you have only been posting in this thread... Posts like these cause additional panic after ,i.e., a failed but recovered fork.

[hoju2k]

Ok, that was weird. Installed new wallet, and I got 8 incoming transasctions for 0.227 or so KDC, as "mined". Is Klondike POS now? 

[luck5]

Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

A reduction in BLOCK REWARD does not reduce existing supply, it only reduces the future growth of supply they are not the same thing.  

Its great that more merchants accept KDC. Its great that there is more than one exchange to trade KDC. However if the merchants and exchanges accept/trade other currencies what drives demand to acquire KDC other then speculation?

Example:
If my local hardware store accepted KDC as payment along with BTC and USD, as a non miner or holder of KDC I would choose the most economical form of payment to me which will always be the method without the real and opportunity cost associated with exchanging coin/currency x for KDC.

KDC as a form of payment alone does not drive new resources to KDC.

No crypto coin can survive the death of its network hash.  No one will provide hashing power for less then market rates for long.

Yes it definitely reduce supply, it reduce DAILY supply, by 80%.

That means that the market wont be flooded with 100.000+ coins per day, and miners wont dump as before and kdc will have a lot less selling pressure, (hopefully) enabling the price to go up, if demand is same as before.

[Kheg]

Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

The only problem is you didn't reduce the EXISTING supply.  That's what I've been trying to tell you since well before this fork happened.

There's a TON of cheap KDC available, and that sets the benchmark for the price.  Until you get someone willing to buy it up and hold it to FORCE the price higher, even the new supply is going to get sold at the lower price unless those miners are willing to take the risk and hold it themselves.  Even if someone does pull those coins out, they're going to recoup their investment by dumping them at a profit later - and then the cycle will beget itself which in turn will drive the price down once again.

The whole scheme is predicated on getting the existing supply out of the economy as quickly as possible, and frankly if that were possible it wouldn't have required a block reward change to alter the value of a coin!

[jackdminer]

Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

A reduction in BLOCK REWARD does not reduce existing supply, it only reduces the future growth of supply they are not the same thing.  

Its great that more merchants accept KDC. Its great that there is more than one exchange to trade KDC. However if the merchants and exchanges accept/trade other currencies what drives demand to acquire KDC other then speculation?

Example:
If my local hardware store accepted KDC as payment along with BTC and USD, as a non miner or holder of KDC I would choose the most economical form of payment to me which will always be the method without the real and opportunity cost associated with exchanging coin/currency x for KDC.

KDC as a form of payment alone does not drive new resources to KDC.

No crypto coin can survive the death of its network hash.  No one will provide hashing power for less then market rates for long.

Not to be a hater, but we clearly have someone that either missed out on buying KDC, or just wants to buy even more KDC at low panic prices .

Im not saying that you are wrong, but you recently registered and you have only been posting in this thread... Posts like these cause additional panic after ,i.e., a failed but recovered fork.

Yes I am new to this thread since the forum @ KDC website is pretty slow.  I have been a quiet full time 2Mh/s miner for a few weeks just happy to provide my share of the work for the reward.  

This fork has motivated me to speak up, and speak out about some basic market fundamentals.  My path to mining was from a brother in law who was hooked on DOGE, we talked over the holidays and I poked around and soon I was hooked on COINWAREZ profitability page and Cryptsy/CoinedUp markets.  I had little coin loyalty if you want to call it that.

After trying switcher pools, and manually jumping from a few different exchangeable coins I stumbled on KDC, I was happy with the payout and the market on CoinedUp so I had been mining the coins for a few weeks.  I havent invested much time into seeking out forums or much anything else just mining away and exchanging my coins for BTC.

About a week before the fork things were good.  The payout was consistent earning me about .015 BTC a day, and the CoinedUp market had enough movement that I trade a few hundred KDC on the buy side below where I sold the days take.  I am not a hoarder of this or any coin in less you consider my meager BTC and LTC wallets a hoard.

Its just my luck that just as I was feeling fairly compensated for my contribution, and looking forward to checking 'the market' in the morning POOF its all gone and I have to fined another coin to trade.

If I have learned anything during this fork it is to invest in the forums once I commit to mining a coin and not just use the Coinwarz and exchanges in a vacuum quietly mining.  Had I have been here during the fork discussion who knows how things would have turned out.  As always devs will do what devs will do regardless of what one guy with 2Mh/s has to say.

Finally as if my bad luck wasnt enough it appears the whole world is mining Auroracoin so the whole work/reward landscape appears distorted to me at the moment.  O well I have an old friend who we've called Flappy for years maybe I'll mine some FLAP coin and print him a nice paper wallet since he has no idea about cryto$ or uses a computer much.  I'm only in this for the fun and cost of electricity.  But since I have yet to convert my BTC into USD, I'm paying for that too.  

I have no delusions of getting rich quick or being a crypto$ player or a GH/s miner.  I'm sure once the temps rise above 10C outside I'll begin to loose interest in this.

[hoju2k]

Coinedup KDC market is back.