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eastwind_ja
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March 28, 2014, 02:41:59 AM |
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a ture coin,but late to let people accept!
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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pandacoin-official
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March 28, 2014, 02:45:49 AM |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
What about you just move the coin to X11+DGW, which will cut out most of the dumpers without damaging the aficionados in any way (since it takes like 5 minutes tops to setup sgminer-sph)? I would like to avoid switching algorithm. This will be experimental anyway until we have a better solution. |
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Eastwind
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March 28, 2014, 10:17:03 AM |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
The reason why PND is dumped in the market is that it is profitable to do so with current hashing rate and difficulty level. If you reduce the block reward to 50k, then the hashing rate will reduce accordingly, it will be dumped again. It is in vicious cycle. You may not be able to increase the price by reducing the reward. Dodge is an example. The reward halved, the price was the same as difficulty halved. Too low hashing rate will make the PND network vulnerable due to very low hashing rate. With 250k reward, the hashing rate is 100MH/s, If you reduce it to 50k, the hash rate could be 20MH/s. It is very dangerous. So I would suggest keeping the current reward halving schedule. That was known from the beginning and we mine PND because of that. Making it fixed reward is a good idea. But please give us long warning time. You may also change it to scrypt-N. But that is too similar to PANDA. I think the future of PND is in scrypt-N. SpainCoin has been changed smoothly to scrypt-N. This could be done on block 100k or later, giving us long enough warning. The depressing of the price is due to little use of PND. |
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kache
Full Member
 Offline
Activity: 140
Merit: 100
Bored
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March 28, 2014, 01:42:20 PM |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
The reason why PND is dumped in the market is that it is profitable to do so with current hashing rate and difficulty level. If you reduce the block reward to 50k, then the hashing rate will reduce accordingly, it will be dumped again. It is in vicious cycle. You may not be able to increase the price by reducing the reward. Dodge is an example. The reward halved, the price was the same as difficulty halved. Too low hashing rate will make the PND network vulnerable due to very low hashing rate. With 250k reward, the hashing rate is 100MH/s, If you reduce it to 50k, the hash rate could be 20MH/s. It is very dangerous. So I would suggest keeping the current reward halving schedule. That was known from the beginning and we mine PND because of that. Making it fixed reward is a good idea. But please give us long warning time. You may also change it to scrypt-N. But that is too similar to PANDA. I think the future of PND is in scrypt-N. SpainCoin has been changed smoothly to scrypt-N. This could be done on block 100k or later, giving us long enough warning. The depressing of the price is due to little use of PND. ScryptN is definitely not the future, because it's counter is basically just "put upgradable RAM in the ASICs", AND there have already been multiple reports if it burning out GPUs. The future is X11, which has neither of these issues, is ASIC resistant, has much lower heat, power consumption and wear/tear on the GPUs. X11+DGW is the perfect combo to keep a coin healthy, away from multipools, huge farms and heavy dumpers. If it starts being a real problem, a CGA-style reward can be implemented, while the total block reward is divided by the current difficulty (example: 500000/20=25000), thus discouraging the network from getting too big and keeping the farms/multipools out. |
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Jherek
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March 28, 2014, 01:55:50 PM |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
The reason why PND is dumped in the market is that it is profitable to do so with current hashing rate and difficulty level. If you reduce the block reward to 50k, then the hashing rate will reduce accordingly, it will be dumped again. It is in vicious cycle. You may not be able to increase the price by reducing the reward. Dodge is an example. The reward halved, the price was the same as difficulty halved. Too low hashing rate will make the PND network vulnerable due to very low hashing rate. With 250k reward, the hashing rate is 100MH/s, If you reduce it to 50k, the hash rate could be 20MH/s. It is very dangerous. So I would suggest keeping the current reward halving schedule. That was known from the beginning and we mine PND because of that. Making it fixed reward is a good idea. But please give us long warning time. You may also change it to scrypt-N. But that is too similar to PANDA. I think the future of PND is in scrypt-N. SpainCoin has been changed smoothly to scrypt-N. This could be done on block 100k or later, giving us long enough warning. The depressing of the price is due to little use of PND. ScryptN is definitely not the future, because it's counter is basically just "put upgradable RAM in the ASICs", AND there have already been multiple reports if it burning out GPUs. The future is X11, which has neither of these issues, is ASIC resistant, has much lower heat, power consumption and wear/tear on the GPUs. X11+DGW is the perfect combo to keep a coin healthy, away from multipools, huge farms and heavy dumpers. If it starts being a real problem, a CGA-style reward can be implemented, while the total block reward is divided by the current difficulty (example: 500000/20=25000), thus discouraging the network from getting too big and keeping the farms/multipools out. The future for PND is PoS, its biggest problem are not rewards or attacks, its the missing buy support. Also I truely believe, that the time of PoW-coins is over, its just too easy to exploit them with multipools - and there will always be a multipool as soon as some PoW is just profitable, no matter how. Scrypt-N might stop some dumpings for a short time but on a longer perspective, coins need to become PoS to stop multipool raping and dumping it. |
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kache
Full Member
Offline
Activity: 140
Merit: 100
Bored
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March 28, 2014, 02:48:35 PM |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
The reason why PND is dumped in the market is that it is profitable to do so with current hashing rate and difficulty level. If you reduce the block reward to 50k, then the hashing rate will reduce accordingly, it will be dumped again. It is in vicious cycle. You may not be able to increase the price by reducing the reward. Dodge is an example. The reward halved, the price was the same as difficulty halved. Too low hashing rate will make the PND network vulnerable due to very low hashing rate. With 250k reward, the hashing rate is 100MH/s, If you reduce it to 50k, the hash rate could be 20MH/s. It is very dangerous. So I would suggest keeping the current reward halving schedule. That was known from the beginning and we mine PND because of that. Making it fixed reward is a good idea. But please give us long warning time. You may also change it to scrypt-N. But that is too similar to PANDA. I think the future of PND is in scrypt-N. SpainCoin has been changed smoothly to scrypt-N. This could be done on block 100k or later, giving us long enough warning. The depressing of the price is due to little use of PND. ScryptN is definitely not the future, because it's counter is basically just "put upgradable RAM in the ASICs", AND there have already been multiple reports if it burning out GPUs. The future is X11, which has neither of these issues, is ASIC resistant, has much lower heat, power consumption and wear/tear on the GPUs. X11+DGW is the perfect combo to keep a coin healthy, away from multipools, huge farms and heavy dumpers. If it starts being a real problem, a CGA-style reward can be implemented, while the total block reward is divided by the current difficulty (example: 500000/20=25000), thus discouraging the network from getting too big and keeping the farms/multipools out. The future for PND is PoS, its biggest problem are not rewards or attacks, its the missing buy support. Also I truely believe, that the time of PoW-coins is over, its just too easy to exploit them with multipools - and there will always be a multipool as soon as some PoW is just profitable, no matter how. Scrypt-N might stop some dumpings for a short time but on a longer perspective, coins need to become PoS to stop multipool raping and dumping it. The issue with PoS is the fact that not only centralizes power (the people who have more get more), but it doesn't allow new players to enter the market in an easy way, since the only way is to buy the coins from another holder, so it's definitely not a solution, long or short term. |
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Eastwind
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March 28, 2014, 02:56:23 PM |
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The issue with PoS is the fact that not only centralizes power (the people who have more get more), but it doesn't allow new players to enter the market in an easy way, since the only way is to buy the coins from another holder, so it's definitely not a solution, long or short term.
I agree with that. PoS is unfair to the later comers. Richers get richer. An ideal coin would be the one which has fixed or predictable inflation, so the hoarders will have value reduced slightly every year. New comers can get it through mining. |
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jox
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March 28, 2014, 03:41:30 PM |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
' Maybe will be good change block time too. Like slothcoin changed block time from 1 minute to 2.5 minute to prevent miners dumping coins all time at 1 satoshi. |
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barryzand
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March 28, 2014, 04:22:32 PM |
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The issue with PoS is the fact that not only centralizes power (the people who have more get more), but it doesn't allow new players to enter the market in an easy way, since the only way is to buy the coins from another holder, so it's definitely not a solution, long or short term.
I disagree man... Look at the current price... look at the current mining diff. If this is announced.. like 1 or 2 weeks before the POS funtion will start off... people get more then enough time for mining easy/ buying cheap Yes there are some big bag holders... I got 20mil myself about this time... But youll get that with big hashing whales too when you launch a new pos coin.. so doesnt make any big difference in my opinion |
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jommy99
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March 28, 2014, 04:52:54 PM |
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I like the POS idea myself, having been a PND miner and buyer and supporter from the launch. Some exchange thoughts.. looks like the multi-pool might be having a price lifting effect  been mining with it http://multi.pandapool.info/Buying more even as they rise up from from their temporary bargain prices Added PandaCoin PND to the voting list and afew votes will move it right up since this is a new exchange. I pasted in their blurb FYI, I am not connected to them. https://www.swaphole.com/Why another exchange? We are not your usual hobby programmer hiring some people to make a "secure" exchange. We are a company of trained professionals, based in Austria. We guarantee a level of security a single individual would not be able to. But yet, there are various reasons why we focused our resources on this crypto exchange: Security!* The design is simple, not dark and also not too colorful. It was made to provide a neutral environment for maximum usability. Multiple order options including (but not limited to): Fill-or-Kill, Immediate-or-Cancel and Iceberg - multiple order types can be applied! Market and Limit orders (as you may know from Forex) A variety of Charts to reduce the time required for monitoring and watching to a bare minimum. Charts scale with the browser window-size for maximum screen-efficiency and maintaing a balanced layout. No personal data is being logged, because to us your privacy is as important as your security. The project is based on highly scalable software and frameworks, to ensure the qualtiy of service even with increasing user counts. We'll provide the world's first crypto currency index! High volume traders benefit from our VIP Account program * The main focus of this service is the provided security. A lot of effort went into planing and testing the application, to guarantee the much-needed security. All communications between you and the servers are encrypted. A unique but yet fast withdrawal process secures your assets way more efficient than email confirmations, making this technique obsolete. What about the name? Swaphole is a one-of-a-kind service, we simply do not want to be your next best exchange, and the name simply reflects that fact. Still unsure? You can contact us here: support@swaphole.comFeel free to ask any questions in the main thread ( https://bitcointalk.org/index.php?topic=530080) Supported coins (as of 28.03.2014) Bitcoin Litecoin Cryptographic Anomaly Dogecoin Cryptogenic Bullion AuroraCoin Vertcoin Darkcoin MazaCoin BlackCoin BlitzCoin Your favorite coin is not listed? Keep up voting! |
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i8
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March 28, 2014, 07:18:28 PM |
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Most people here are pnd bagholders, no wonder everyone wants pos, and that's totally fine if the current pnd community is sufficient to sustain the market. But it's not, we need new adopters, and most importantly, we need merchants to give pnd real value.
I agree a lowered block reward and slower block would help cut the dumpers and maybe stabilize the market. That's a good thing. Less dumpers + constant buy pressure from the multipool is gonna be amazing.
Then we need a rebrand to move past the whole wolong thing and figure out what can set us apart, I mean, if I already use doge, what does pnd offer that doge doesn't?? We need to be able to offer something unique. Getting on moolah would be important too.
We can do this guys!
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ʕ•͡ᴥ•ʔʕ•͡ᴥ•ʔʕ•͡ᴥ•ʔ Pandacoin is LOVE! ʕ•͡ᴥ•ʔʕ•͡ᴥ•ʔʕ•͡ᴥ•ʔ
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jox
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March 28, 2014, 11:24:46 PM |
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Good news but please update OP page also. |
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slaithe (OP)
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March 29, 2014, 01:09:21 AM |
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updated OP with mandatory 1.5.4 info
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Jherek
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March 29, 2014, 01:14:30 AM |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
The reason why PND is dumped in the market is that it is profitable to do so with current hashing rate and difficulty level. If you reduce the block reward to 50k, then the hashing rate will reduce accordingly, it will be dumped again. It is in vicious cycle. You may not be able to increase the price by reducing the reward. Dodge is an example. The reward halved, the price was the same as difficulty halved. Too low hashing rate will make the PND network vulnerable due to very low hashing rate. With 250k reward, the hashing rate is 100MH/s, If you reduce it to 50k, the hash rate could be 20MH/s. It is very dangerous. So I would suggest keeping the current reward halving schedule. That was known from the beginning and we mine PND because of that. Making it fixed reward is a good idea. But please give us long warning time. You may also change it to scrypt-N. But that is too similar to PANDA. I think the future of PND is in scrypt-N. SpainCoin has been changed smoothly to scrypt-N. This could be done on block 100k or later, giving us long enough warning. The depressing of the price is due to little use of PND. ScryptN is definitely not the future, because it's counter is basically just "put upgradable RAM in the ASICs", AND there have already been multiple reports if it burning out GPUs. The future is X11, which has neither of these issues, is ASIC resistant, has much lower heat, power consumption and wear/tear on the GPUs. X11+DGW is the perfect combo to keep a coin healthy, away from multipools, huge farms and heavy dumpers. If it starts being a real problem, a CGA-style reward can be implemented, while the total block reward is divided by the current difficulty (example: 500000/20=25000), thus discouraging the network from getting too big and keeping the farms/multipools out. The future for PND is PoS, its biggest problem are not rewards or attacks, its the missing buy support. Also I truely believe, that the time of PoW-coins is over, its just too easy to exploit them with multipools - and there will always be a multipool as soon as some PoW is just profitable, no matter how. Scrypt-N might stop some dumpings for a short time but on a longer perspective, coins need to become PoS to stop multipool raping and dumping it. The issue with PoS is the fact that not only centralizes power (the people who have more get more), but it doesn't allow new players to enter the market in an easy way, since the only way is to buy the coins from another holder, so it's definitely not a solution, long or short term. Thats why there is a multipool that allows to mine PND even with PoS. PoW has certain flaws, and not only the shitcoin flow exposes them. 1. PoW network security depends on hashpower: A pool with 51% can crash the whole coin. Not possible with PoS 2. Power consuming: people with low or no energy cost profit over these in countries where power costs alot. Bitcoin mining industry already moves to spots where energy is cheap due to hydroelectric supply or similar. Decentralisation is spoiled. Also a waste of energy generally just to keep the blockchain alife. 3. Pump and Dump: People with much power can and will dump the coin at peaks and use the profit to manipulate market. The earlier you are in, the more power you have. That renders alot of coins to the whim of a few whales. Blackcoin exposes the whales: Everytime when the pool is not buying, and thats often still while in beta, the price dumps. |
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Jherek
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March 29, 2014, 01:17:16 AM |
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Most people here are pnd bagholders, no wonder everyone wants pos, and that's totally fine if the current pnd community is sufficient to sustain the market. But it's not, we need new adopters, and most importantly, we need merchants to give pnd real value.
I agree a lowered block reward and slower block would help cut the dumpers and maybe stabilize the market. That's a good thing. Less dumpers + constant buy pressure from the multipool is gonna be amazing.
Then we need a rebrand to move past the whole wolong thing and figure out what can set us apart, I mean, if I already use doge, what does pnd offer that doge doesn't?? We need to be able to offer something unique. Getting on moolah would be important too.
We can do this guys!
New adopters get their opportunity to join via multipool. Other PoS coins like mint don't give that opportunity, you have to buy but no one wants that and so no one will do it and so the price tanks. Multipool creates buy interest by the people already in that want to spend mining time to increase the coin value and new adopters to join in while the train is moving. It's a benefit for all. |
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