[ANN][LEAF] LEAFCOIN - Android wallet launched

[NiceFace]

I am a newbie when it comes to the subject of coins.
Can someone explain me is it bad when pools like middlecoin mining LeafCoin?
I bought some of them when they got added on cryptsy - I read about LeafCoins before and I like their meaning.

[ciprian220]

leafcoin is already dead? 

[mcg]

I am a newbie when it comes to the subject of coins.
Can someone explain me is it bad when pools like middlecoin mining LeafCoin?
I bought some of them when they got added on cryptsy - I read about LeafCoins before and I like their meaning.

its very simple.

a) they have 22ghash of miners
b) they monitor the difficulty
c) they calculate diff -> number of coins per block per second, they convert that to btc
d) so now they know what profitability is, for each coin at their current diffs
e) they sort the list, most profitable top
f) they push off the first of the list, thats what they are going to mine
g) then they redirect all 22ghash miners at it
h) they mine blocks in a near instant rate
i) they monitor while mining the diff.
j) if the diff becomes high, it takes more time to mine a block, becoming less profitable, so they leave
h) remaining miners will have to mine through high diff blocks, taking ages
k) also for them it comes less profitable... so they leave as well
l) potentially you can end up with a dead coin because of this

hope that explains it.

[aaron_m]

I am a newbie when it comes to the subject of coins.
Can someone explain me is it bad when pools like middlecoin mining LeafCoin?
I bought some of them when they got added on cryptsy - I read about LeafCoins before and I like their meaning.

They push the difficulty so high with their hash power, as soon as the difficulty gets high they run away to do the same to another coin until easy difficulty again, leaving us stuck on really hard blocks with no miners.  Unfortunately a lot of our own user base leave too, even though its no less profitable, they just obsess over the raw numbers

[NiceFace]

So they killing some coins with potential.
I hope LeafCoin will be enough strong to keep alive.

[mcg]

So they killing some coins with potential.
I hope LeafCoin will be enough strong to keep alive.

we just need to get to the kgw block.

then everything changes.

[damiano]

So they killing some coins with potential.
I hope LeafCoin will be enough strong to keep alive.

we just need to get to the kgw block.

then everything changes.

Whats the ETA on it

[NiceFace]

So they killing some coins with potential.
I hope LeafCoin will be enough strong to keep alive.

we just need to get to the kgw block.

then everything changes.

kgw? (sorry for newbie questions )

[mcg]

So they killing some coins with potential.
I hope LeafCoin will be enough strong to keep alive.

we just need to get to the kgw block.

then everything changes.

Whats the ETA on it

so many factors...

if you take all scenarios...

it varies from 4-30 days.

all depends on middlecoin

[aaron_m]

So they killing some coins with potential.
I hope LeafCoin will be enough strong to keep alive.

we just need to get to the kgw block.

then everything changes.

Whats the ETA on it

Depends on how many miners desert ship, unfortunately too many have so far.

So they killing some coins with potential.
I hope LeafCoin will be enough strong to keep alive.

we just need to get to the kgw block.

then everything changes.

kgw? (sorry for newbie questions )

The new code to stop multi pools damaging coins

[mcg]

kgw = kimoto gravity well

very short version: diff adjusts everyblock in a graduate manner.

so no more low diff... and instant mines from middlecoin

[mmihai1978]

30 days is far too late. the coin may not make it.

look at fedora coin. same issues; the core miners cannot do 150 blocks to reach kgw because of the dumb retarget and multipools raping the coin again and again.

kgw needs to be here sooner rather than later...otherwise you know the saying:  the operation was successful, but the patient is dead.

getting the coin listed without kgw was a mistake.

[mcg]

30 days is far too late.

kgw needs to be here sooner rather than later...otherwise you know the saying:  the operation was successful, but the patient is dead.

getting the coin listed without kgw was a mistake.

true. i though we could make deals with middlecoin.

30 days is superworst scenario.

coin goes up in value, middlecoin start pointing 22ghash each time, we remain with <0.6 ghash

i am still looking for coop.

but if it turns out like this... i am going to fork it.

[mmihai1978]

imho there are no deals with multipools.

they want the fees and they don't care about anything else.

look at all the fishermen: they are killing whales for a very good reason.

[mcg]

imho there are no deals with multipools.

they want the fees and they don't care about anything else.

look at all the fishermen: they are killing whales for a very good reason.

thats not completely true... you can make deals with them.

hashcows ie was very cooperative.. they understand the deal with this coin.. and dropped off completely

middlecoin is the only one that is worrysome... but also the one with the largest hashrate.

real businessmen over there... pay up etc.

or fishermen...

middlecoin asked me too much per block to stay off completely... rather i would do a fork then

[NiceFace]

What mean that "fork" its something bad ?

[aaron_m]

What mean that "fork" its something bad ?

It means the coin will take 2 paths, one official and one unofficial, we just need to get all the exchanges and real pools on the official one, then the unofficial one becomes worthless.

EDIT: and responsible multipools like hashcows

[terracide]

imho there are no deals with multipools.

they want the fees and they don't care about anything else.

look at all the fishermen: they are killing whales for a very good reason.

thats not completely true... you can make deals with them.

hashcows ie was very cooperative.. they understand the deal with this coin.. and dropped off completely

middlecoin is the only one that is worrysome... but also the one with the largest hashrate.

real businessmen over there... pay up etc.

or fishermen...

middlecoin asked me too much per block to stay off completely... rather i would do a fork then

And there is Always the question why those pools are under DDOS.. well i can give them a few reasons.

[aaron_m]

imho there are no deals with multipools.

they want the fees and they don't care about anything else.

look at all the fishermen: they are killing whales for a very good reason.

thats not completely true... you can make deals with them.

hashcows ie was very cooperative.. they understand the deal with this coin.. and dropped off completely

middlecoin is the only one that is worrysome... but also the one with the largest hashrate.

real businessmen over there... pay up etc.

or fishermen...

middlecoin asked me too much per block to stay off completely... rather i would do a fork then

And there is Always the question why those pools are under DDOS.. well i can give them a few reasons.

Yes, they have damaged many coins

[Dallas5]

You could rent 1 or more rigs at betarigs.com to reach the block sooner without making the diff skyhigh.