[ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]

[URSAY]

Thank you for all your hard work right now Robo and cryptomommy.  I hope this bug hasn't interrupted your lives too much.  It's a busy time of year for everyone.  What would the community do without you???  <3

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[cryptomommy]

This Block was estimated for one year POS. It will never exactly match.
There is another issue in your code, that may have an influence - but I'm not sure.

How long was Mintcoin's POW time?

Cheers,
Ray

Mintcoin Specifications
-Scrypt PoS/PoW

Other Specifications:
– 30 seconds block target
– 100000 – 900000 coins per block initially
– PoW payout will be halved every week for the first 5 weeks
– After 5 weeks, the PoW payout will be fixed at 1 coin per block
– Difficulty retargets every block
– PoS variable interests:
– 1st year: 20%
– 2nd year: 15%
– 3rd year: 10%
– 4th and subsequent years: 5%
– Total coins will be 70 billions
– 4 confirmations for transaction, thus fast 2 mins confirmation for transactions
– 50 confirmations for minted blocks
– 1% premine for bounties, giveaways, development, support and maintenance, new feature developments etc.

- Ports: 12788 (connection) and 12789 (RPC)

[cryptomommy]

This Block was estimated for one year POS. It will never exactly match.
There is another issue in your code, that may have an influence - but I'm not sure.

How long was Mintcoin's POW time?

Cheers,
Ray

Thanks - please let us know what other issue you see in the code so I may relay back to roboguy?

[Rent_a_Ray]

You find it in my PM from yesterday in Bee7's quote.

GetLastBlockIndex(pindexBest, false) returns the pindex of the last PoW block, not of the last  PoS block. Thus, the emission would be linear over time, not declining with time as it claimed to be in the coin

This applies to our Zeitcoin source, but it could be interesting for Mint, too.

Cheers,
Ray

PS: As far as I understand it, you could easily boost this block constant with an offset to win some time for a fix, but then you'll need another fork next year.

[Derek492]

This Block was estimated for one year POS. It will never exactly match.
There is another issue in your code, that may have an influence - but I'm not sure.

How long was Mintcoin's POW time?

Cheers,
Ray

The mining time was just under 4 weeks.

At this point, probably the best way to estimate mintoins block speed is to divide the current block number by the days it has been since launch. 1051199/314 days = 3348 blocks per day....so call it 3350 blocks per day. That comes out to an average block time of every 25.8 seconds.

[Rent_a_Ray]

Here's the current situation:

Code:

const int YEARLY_BLOCKCOUNT = 1051200;	// 365 * 2880

Cheers,
Ray

Someone had a beer while coding  ;D

[Derek492]

Here's the current situation:

Code:

const int YEARLY_BLOCKCOUNT = 1051200;	// 365 * 2880

Cheers,
Ray

Someone had a beer while coding  ;D

The only problem with that is mintcoin reached that block count before a full year, in other words the blocks are going faster than 30 seconds

[Rent_a_Ray]

Zeitcoin, too.
Have a look: http://www.multifaucet.tk/index.php?blockexplorer=ZEIT

Sometimes we have seconds, sometimes a minute. We can say, we are 2-3 months too early with our calculation.

Cheers,
Ray
 

[Derek492]

Zeitcoin, too.
Have a look: http://www.multifaucet.tk/index.php?blockexplorer=ZEIT

Sometimes we have seconds, sometimes a minute. We can say, we are 2-3 months too early with our calculation.

Cheers,
Ray
 

Pretty sure the reason is because it still thinks there would be PoW blocks. But since PoW blocks are missing from the equation now it is going faster. Just a guess

[kiklo]

From RoboGuy:
So have a decision to make:
Do we adjust this block transition height to be closer to April of next year? Do we go ahead and transition to 15% stake?
I am also unsure the best way to resume the chain. There are a few checks for the blocks being recent. If you hear from Ray or someone else on how to resume a chain that would help.

I personally believe we should keep the 15% PoS as originally programmed - what are everyone elses thoughts?

You guys need to focus on what is important.
Most important getting your network running.
Interest rate does not matter if you can't send mintcoins.
Wheter or not the rate changes a few months early , is unimportant.

Whoever is leading mintcoin should go ahead and inform Roboguy of what they need done,
so he can get an updated wallet out, with any luck after you update your wallets your network should start back up automatically, if not then he might have to set up a central node that everyone connects to, to restartup the block chain , but hopefully not needed. That will take much more time if required.

Your technical problem is becoming a major PR problem.
Don't delay the programmer , when he is your best shot at repairing your tech & image problems.

 

[Derek492]

From RoboGuy:
So have a decision to make:
Do we adjust this block transition height to be closer to April of next year? Do we go ahead and transition to 15% stake?
I am also unsure the best way to resume the chain. There are a few checks for the blocks being recent. If you hear from Ray or someone else on how to resume a chain that would help.

I personally believe we should keep the 15% PoS as originally programmed - what are everyone elses thoughts?

You guys need to focus on what is important.
Most important getting your network running.
Interest rate does not matter if you can't send mintcoins.
Wheter or not the rate changes a few months early , is unimportant.

Whoever is leading mintcoin should go ahead and inform Roboguy of what they need done,
so he can get an updated wallet out, with any luck after you update your wallets your network should start back up automatically, if not then he might have to set up a central node that everyone connects to, to restartup the block chain , but hopefully not needed. That will take much more time if required.

Your technical problem is becoming a major PR problem.
Don't delay the programmer , when he is your best shot at repairing your tech & image problems.

 

+1000!
Yes the sooner we are up and running the better. Just fix it so its running again. If its to hard to fix other stuff immediately we can always do that later.

[URSAY]

[DougB62]

From RoboGuy:
So have a decision to make:
Do we adjust this block transition height to be closer to April of next year? Do we go ahead and transition to 15% stake?
I am also unsure the best way to resume the chain. There are a few checks for the blocks being recent. If you hear from Ray or someone else on how to resume a chain that would help.

I personally believe we should keep the 15% PoS as originally programmed - what are everyone elses thoughts?

You guys need to focus on what is important.
Most important getting your network running.
Interest rate does not matter if you can't send mintcoins.
Wheter or not the rate changes a few months early , is unimportant.

Whoever is leading mintcoin should go ahead and inform Roboguy of what they need done,
so he can get an updated wallet out, with any luck after you update your wallets your network should start back up automatically, if not then he might have to set up a central node that everyone connects to, to restartup the block chain , but hopefully not needed. That will take much more time if required.

Your technical problem is becoming a major PR problem.
Don't delay the programmer , when he is your best shot at repairing your tech & image problems.

 

+1000!
Yes the sooner we are up and running the better. Just fix it so its running again. If its to hard to fix other stuff immediately we can always do that later.

Yes. 100% agree with this. Get it running, and then figure out the details that need to be implemented for future trouble-free operation.

[kiklo]

Steps needed to restart Mintcoin Network

Step 1:  Updated Wallet Software

Step 2: Installed updated wallet on someone that was about to mint and PC was in sync up to the time of the freeze , (Like coolbeans94) , Let his Wallet extend his Blockchain, then bring a few more updated wallets online that use his node to restart & sync the blockchain, let them run for a few hours.

Step 3: Distribute the updated Wallet to everyone, and they should automatically fall in line with the longest blockchain. Or make a download of the blockchain that matches and let them download it.

Step 4: Test sending some mintcoins to each other to verify operation.

Step 4½: Get the Block Explorers up and synced.

Step 5: Inform and update the Exchanges & Faucets .

Step 6: Only for People that tried to send out mintcoins while the network was down:
           Run a repair wallet if your mintcoins amount is off, if that does not fix it ,
           then you will have to run a salvage wallet to see if that returns your mintcoins.

Step 7 : Finished

 

[fonzerrellie]

Glad to see the Mint team hard at work, I'll be waiting patiently for the update... to put the mill mint I just bought away to mint

[coolbeans94]

What is the ETA on releasing a fix for this and getting up and running?

[Sandals4life]

Does this mean we will be stuck at the 20% rate then?

[RoboGuy]

Ok, I am building the release wallet now.  I will place it on Trello when I am done.  I decided not to change the blocks per year number in the code for now.  Ee could put this to a vote on Reddit for the next wallet.  I just want to get things moving for now.

Windows build is now on Trello.

[Angora]

Ok, I am building the release wallet now.  I will place it on Trello when I am done.  I decided not to change the blocks per year number in the code for now.  Ee could put this to a vote on Reddit for the next wallet.  I just want to get things moving for now.

Windows build in now on Trello.

What is the link for the Windows wallet?

[deepcreek]

Roboguy good work once again, it is much appreciated.