[ANN] [HVC] Heavycoin - Ultra-secure, Decentralized Block Reward Voting, Fast

[infra172]

BTW, did you all notice that the next estimated block reward has now dropped to 508?
I think 1GH changing the sample miner string is at least working to some extent.

Everyone! Start tweeting about using a lower vote count also.
We need to educate people. Tell what effect voting low can do.

Join us
To vote for HVC power
 

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[kstar]

Do note:

The second phase (Limit) allows a maximum vote of 1024 HVC for the first 59,876 blocks, but 8 HVC for the last ~3,600 blocks so it can transition into to the last phase (Sustain).

I personally would rather see POS for phase 3 as I agree if hash drops significantly there could be potential malicious attacks. Keccak any comment on the network security during phase 3?

Yep, for 51 days you can vote anything you want up to 1024 but during the last 5 days your vote has to be 8 or under.  I'm sure that's going to work well.

Hopefully we can get an update before then for CGMiner and CCMiner that will fix this automatically.  Maybe we could get a --sustainvote switch thrown in early that will allow both votes to be set now. The program would use the --vote setting up until the last 5 days and will switch to the -sustainvote switch at the correct block so all blocks are counted.  Otherwise we could see another drop in hash rate during these last 5 days as invalid votes (higher then are used and they are thrown out.

What do you mean by during last 5 days?  Last 5 days of what?

[dzonikg28]

I  buy 1.something  BTC up to 2300 and then it start to rise by it self quickly ..but as always like i sad its lost case with this inflation..when people with hvc see price has rised everyone press sell sell sell

[Jreche]

vote 1024 more coins woot

In the mint phase the coin limit is 45 million coins. A vote of 1024 just gets us to the limit phase faster. The votes in the next 2 phases are what will determine the total supply.

Even if we as a community voted the block reward in half, say 250, it would put HVC on the map in a big way. HVC is an innovator, not a clone, it doesn't need a gimmick like all the shitcoins out there do. Scrypt-asic's are going to change the whole altcoin landscape, and not for the betterment of gpu mining. We can control how long we mine HVC for and how much we end up with in the end. I don't know how many miners read this forum, but I'm sure they all look at the pool pages on a regular basis. If we could get the pools to put up a message  stressing the importance of the vote I think that would help. I know zhpool gives you vote information on their dashboard, but 1GH doesn't have any information at all. I did notice they changed -v to -vote which is very helpful.

This coin has more potential than any other!  Vote 1 for Heavy!!

[FryguyUK]

a little word to you all, the reason for the success of blackcoin and the likes is because people don't put their orders above for a lazy profit. It dissuades the market makes it top heavy and makes you wait longer / never until cashing that. You see 100s of smart asses buy up and put a double up sell down oblivious to the fact when that happens the market will shake.

TAKE OFF THE HIGH SELLS PLEASE.

[cayars]

Do note:

The second phase (Limit) allows a maximum vote of 1024 HVC for the first 59,876 blocks, but 8 HVC for the last ~3,600 blocks so it can transition into to the last phase (Sustain).

I personally would rather see POS for phase 3 as I agree if hash drops significantly there could be potential malicious attacks. Keccak any comment on the network security during phase 3?

Yep, for 51 days you can vote anything you want up to 1024 but during the last 5 days your vote has to be 8 or under.  I'm sure that's going to work well.

Hopefully we can get an update before then for CGMiner and CCMiner that will fix this automatically.  Maybe we could get a --sustainvote switch thrown in early that will allow both votes to be set now. The program would use the --vote setting up until the last 5 days and will switch to the -sustainvote switch at the correct block so all blocks are counted.  Otherwise we could see another drop in hash rate during these last 5 days as invalid votes (higher then are used and they are thrown out.

What do you mean by during last 5 days?  Last 5 days of what?

http://heavycoin.github.io/about.html#decentralised-voting

Read wording under "Voting phases" paragraph.  Possible, something of a mess waiting to happen if GPU programs aren't revised to handle the transition better.

[cayars]

a little word to you all, the reason for the success of blackcoin and the likes is because people don't put their orders above for a lazy profit. It dissuades the market makes it top heavy and makes you wait longer / never until cashing that. You see 100s of smart asses buy up and put a double up sell down oblivious to the fact when that happens the market will shake.

TAKE OFF THE HIGH SELLS PLEASE.

Can you explain more?

How does having a high sell price not help?  If people want HVC they need to pay for it.  Do they not?

You can not double up unless you got the coin to cheap in the first place and actually see the value it might have?

[SimkoMiner]

What is that !! Revolution?


Retweeted by Heavycoin News
CryptoN ‏@premjeraz 13m
Im just sold my #blackcoin's for 0.00036,bought them for 0.0000355. Now some funds moving to #heavycoin, others to buyback cheaper #bc later

[istop08]

Mintpal @ Slow Deposit.

[Djinou94]

Is HVC plan about a multipool too?

[Wenzel745]

MULTIPOOLS ARE NOT INTENDED FOR PoW COINS

Seriously guys. PoS coins don't need miners to maintain the blockchain. PoW does. If we send miners off to a multipool, we become open for an attack. How about we do, as KrazyKrypto is getting at, some community outreach and look at making some REAL WORLD APPLICATIONS. A community looking only for profit isn't going anywhere.

[incin]

 If we send miners off to a multipool, we become open for an attack.

Not saying i support a multipool right now but I see no more risk than what will be presented in the sustain phase, in fact less risk now than later.

How about we do, as KrazyKrypto is getting at, some community outreach and look at making some REAL WORLD APPLICATIONS. A community looking only for profit isn't going anywhere.

Agreed. But....

The current concern is that sustain phase is coming very quickly and in the current design sustain is very open to network attack if people bail during said phase (granted speculation). But for people not to bail HVC has to increase in value considerable to keep miners mining (securing the network). It is naive to think miners will mine at a loss just to support the coin during the sustain phase. Im not suggesting things be changed immediately but I do think a plan has to be made and ready to be implemented if the scenario plays out as such. Who will invest jump on board (merchants) with HVC if there is a logical foreseeable security issue with the final stage?

BTW a multipool would be good if HVC went POS for sustain phase.  

[incin]

Another thing people need to realize is that your vote does not count unless you specifically find a block. So naturally those with the most mining power have the biggest say in the overall vote.

[cayars]

Another thing people need to realize is that your vote does not count unless you specifically find a block. So naturally those with the most mining power have the biggest say in the overall vote.

Yep, and take a look at the most recent blocks found at ZHPool http://heavycoin.zhpool.com/index.php?page=statistics&action=blocks

5 of the last blocks have a vote of 1024

Carlo

[massiveman]

a little word to you all, the reason for the success of blackcoin and the likes is because people don't put their orders above for a lazy profit. It dissuades the market makes it top heavy and makes you wait longer / never until cashing that. You see 100s of smart asses buy up and put a double up sell down oblivious to the fact when that happens the market will shake.

TAKE OFF THE HIGH SELLS PLEASE.

blackcoins multipool helps a lot, that's one of the reasons their price is doing so well.

[Wenzel745]

 If we send miners off to a multipool, we become open for an attack.

Not saying i support a multipool right now but I see no more risk than what will be presented in the sustain phase, in fact less risk now than later.

How about we do, as KrazyKrypto is getting at, some community outreach and look at making some REAL WORLD APPLICATIONS. A community looking only for profit isn't going anywhere.

Agreed. But....

The current concern is that sustain phase is coming very quickly and in the current design sustain is very open to network attack if people bail during said phase (granted speculation). But for people not to bail HVC has to increase in value considerable to keep miners mining (securing the network). It is naive to think miners will mine at a loss just to support the coin during the sustain phase. Im not suggesting things be changed immediately but I do think a plan has to be made and ready to be implemented if the scenario plays out as such. Who will invest jump on board (merchants) with HVC if there is a logical foreseeable security issue with the final stage?

BTW a multipool would be good if HVC went POS for sustain phase.  

I agree, we need to go PoS for sustain if we want to be relevant. All I'm saying is that if we start a multipool, we significantly damage the hashrate of the HVC network. Not to mention, every coin is looking at starting multipools... Maybe the Altpocalypse is starting? Death by multipools?

What I'm getting at is, at least as long as we're PoW, the best way to up the price is to get wider adoption and lower the vote. If we can convince Kekkak to make final phase PoS then certainly, we should get a multipool then.

[Wenzel745]

a little word to you all, the reason for the success of blackcoin and the likes is because people don't put their orders above for a lazy profit. It dissuades the market makes it top heavy and makes you wait longer / never until cashing that. You see 100s of smart asses buy up and put a double up sell down oblivious to the fact when that happens the market will shake.

TAKE OFF THE HIGH SELLS PLEASE.

blackcoins multipool helps a lot, that's one of the reasons their price is doing so well.

BC Multipool only buys between 50-100BTC/day based on Twitter. Driving force on their price is strong community involvement, CoinKite adoption, PoS model, etc.

[TheRealSteve]

Yep, and take a look at the most recent blocks found at ZHPool http://heavycoin.zhpool.com/index.php?page=statistics&action=blocks
5 of the last blocks have a vote of 1024

Check again now, and you'll find different. ( of the 60 listed: 14@1, 27@512, 15@1024, 4@other )

[massiveman]

a little word to you all, the reason for the success of blackcoin and the likes is because people don't put their orders above for a lazy profit. It dissuades the market makes it top heavy and makes you wait longer / never until cashing that. You see 100s of smart asses buy up and put a double up sell down oblivious to the fact when that happens the market will shake.

TAKE OFF THE HIGH SELLS PLEASE.

blackcoins multipool helps a lot, that's one of the reasons their price is doing so well.

BC Multipool only buys between 50-100BTC/day based on Twitter. Driving force on their price is strong community involvement, CoinKite adoption, PoS model, etc.

I would argue that in this current climate of tumbling coin prices that their multipool, by creating buy support, has essentially made their coin stand out as one which is bucking the downward trend, this in turn has attracted investors and those who feel its a safe store of value while everything else decreases.

[kqpahv]

Putting another option out here:

As GPU mining profitability is down there is a lot of network power available for rent. Renting 70Ghash of Hefty power would cost about 10BTC a day. With that we would own half the network at the moment and by voting 0 we could bring down the block reward to somewhere 250HVC per block.
Now obviously 10BTC a day is quite a big sum and we would have to stay mining for far longer than 1 day. But keep in mind we would also be getting a lot of HVC and bringing down the supply which will theoretically drive the prices up. So this would be like a investment fund in a way. Some of the HVC could be sold to sustain the operation.

Obviously the plan is not perfect and involves some risks and problems:

Minimum initial total investment would be about 50BTC to keep mining for 5 days and bring the block reward down to 250HCV. This means we would need quite a lot of investors. I could personally chip in 2-3BTC a week but we would still need tens of more investors.

Sustainability ? Unless we would keep this going it's like a bandage that actually does not solve the problem. The minute we would stop the reward would bounce back up unless better awareness of the miners. The positive outlook is that if the plan works and limiting supply will start to drive the price up we could keep going partly funding the operation with accumulated HVC's and maybe attracting more BTC investors to the project.

70GH of network power is also quite a handful to oversee. Ideally this power could come from bigger farms with adequate management software because setting everything up 100-200Mhash at a time is highly time consuming.