Diff at 4096 now.
NEXT DIFF 16384 !!!
Whats the diff at now?
I don't know who is mining this coin but this morning I stopped all my mining...
last night I had an "aha" moment when I finally realized that this coin is fatally flawed.
the reason why this coin is designed to fail is quite simple..
for those who do not understand the relationship between block difficulty and transaction times please read this wiki
https://en.bitcoin.it/wiki/Blocksit is fundamentally important that block difficulty be adjustable
(both up and down) so that blocks can continue to be solved at a moderate pace.
this is because blocks are nothing more than a bunch of transactions bundled together in a block which secured (ie locked) by a cryptographic hash.
the cryptograpic hash of course is what every miner is competing for.. the guy who finds the solution to the mathematical problem defined by the Network difficulty is the guy who gets to process a block of transactions and gets to stamp a hash on the block so that it cant be tampered with. he/she/it gets paid 50 coins for their trouble.
now consider this...
once the difficulty gets so high that it literally takes HOURS for the network to solve the next block, then this means that transaction times will blow out exponentially. considering that most transactions require a large number of confirmations to be considered safe (on some smaller alt coins this is as high as 120 confirmations) this means that the actual time for a transaction to be processed and considered SAFE could end up taking days.
https://en.bitcoin.it/wiki/Confirmationsure you might think.. we are a long way off blocks taking hours to solve.. but actually the truth is with a lot of these smaller coins.. it doesn't take long before miners move on to mine more profitable coins.. this means that over time as the difficulty rises the total network hashing power decreases which makes it even harder for the existing miners (those who joined together in a pool) to solve blocks so they too move on to other coins and the spiral continues downward...
in normal crypto coins, block difficulty re-targeting is designed to counter this problem by reducing the difficulty so that a steady stream of blocks can be processed...
based on what others have stated on this forum (and observation), what the
stupid incompetent dev of this coin has done is modify that feature so that the difficulty can NEVER go down.
this means that the network cannot adjust to any decrease in mining capacity..
so in conclusion any decrease in mining capacity is likely to lead to a further decreases in mining capacity which will eventually result in it being too difficult for the remaining miners to solve blocks in a reasonable amount of time and at that point the network will grind to a halt.
so IMO it could be days away, or even weeks away, but I don't think we are years away from seeing this network collapse.
of course the dev could solve this problem if he/she/they hard forked and reworked the targeting algorithm (and I hope they do because I have some coins) but until then this coin is relegated to becoming nearly worthless as a transaction currency.
