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

[jwinterm]

Well I didn't kill the coin, the designers/dev did.  I just shared my findings.
The only chance the coin has/had is for votes to become much lower (since devs won't change anything) so the word had to be spread.  Unfortunately the whales are voting high so we can't make enough difference.

Would you have rather known last week or 3 months from now when you could be holding 4 times more coins.

Besides, the devs are aware of the problems and choose to do nothing about it. Put the blame where it belongs and not on the messenger.

Carlo

But yea, the value started to slowly tank when people read my original message which described the problems and the devs said they wouldn't make any changes.

On a lighter note:

Happy Easter everyone!

So what you're saying is...heavycoin is dead weight?

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[dzonikg28]

How do you plan on addressing what I called the "suicide" phase?

We don't plan to address it because we do not share your doomsday opinion.

Like it or not, the current mint rate is what has been voted for.  Also, we do not believe a steep decline in the block reward (if that happens) would necessarily be bad.  A low block reward could detract some miners, but an exhausted supply could also put upward pressure on the price, which would serve to attract miners.  No one can predict the future.  There are some very successful altcoins, most notably Quark, that have undergone sharp drops in mining reward.  Our view is that this factor alone does not determine the future of a coin.  However, miners are free to adjust their votes according to their beliefs.

Wrt. temporal retargeting we conducted large-scale tests and found that it works very well.  We had a look at the timewarp exploit and fix.  As far as we know time-warp does not impact Heavycoin.  We use completely different code in this section.  This does not mean that there could not be an exploit one day, but if there were, it's not the end of the world because software can be updated and further improved.

Your "exhausted supplu" will be with 90% off coins mined just 4-5 months since lunch..i dont see who is that exhausted supplu ..you missing biggest oportunitu for alt coin and that is when great army of GPY miners redirect from litecoin..coin that atract that miners will be biggest alt coin...there are now gpy worth tens of milions of $ that are mining..coin that will have them will have huge invesments ..but this coin even it ahs most gpy friendly alg going for "we dont need miners" and security will be 0

i want to just quote post when i argue that inflation is 2 high and that coin will be dead soon with this inflation and all people here including dev were screamin that i am wrong and thet are right..look at the price and voluime now ..its 3 TIME LESS THEN THEN!

[cryptomines]

i want to just quote post when i argue that inflation is 2 high and that coin will be dead soon with this inflation and all people here including dev were screamin that i am wrong and thet are right. Look at the price and voluime now ..its 3 TIME LESS THEN THEN!

Lower block reward = lower inflation. We have seen that a +500 block reward drives coin value to the ground. Can we shoot for a 100 hvc block reward for a few weeks and see what happens. At this point what do we have to lose by dropping the reward?

[placebo]

Is heavycoin a buy at this rate?

[cryptomines]

Is heavycoin a buy at this rate?

It's a steal at this rate.

[griffinriz]

I am still supporting this coin but the dev should come forward and address people concerns.

[griffinriz]

Is heavycoin a buy at this rate?

well no one knows that but its all time low ATM and it can go even lower  

[cayars]

Is heavycoin a buy at this rate?

Nobody knows.

Not to start any rumors, but just imagine if the Devs had a change of mind/heart (without telling anyone) and are putting in place the proper things needed to change the timeline and/or voting structure to fix the current problems.  They could for the last week be buying as much HVC at low cost as possible before issuing/releasing a fix (knowing the price will go up).

Since there is no such thing as illegal activities like "inside trading" in the alt coin world something like this could happen.

Again, this IS NOT based on any facts and is just a "fun thing" to think about (nothing more).  While a situation like this is unlikely, it or similar things could happen with most small coins.  

THE TAKEWAY:
I personally think there should be more transparency of activities related to the coin, be it development, marketing, advertising or any other activities.  The community should be kept up to date on what is currently in the works and what is planned.  Maybe due to circumstances the community could weigh in to change priorities.   Better yet would be a "steering committee" to give direction as to what needs to be done (short & long term).  This would also allow more people to get involved working in a cohesive synergy.

But anyway you cut it, the devs not showing up in 7 days or only 1 day in a two week period is not very assuring to the community and I'm sure is playing into the diving price of HVC as there is just to much uncertainty right now with this coin.

Carlo

[cryptomines]

I sent keccak a bit msg yesterday. He said that they have been very busy lately and will make appearance here soon. He said any immediate concerns should be brought to their attention via their bitmessage accounts for fastest response. They are still committed to the success of heavycoin.

[cayars]

I sent keccak a bit msg yesterday. He said that they have been very busy lately and will make appearance here soon. He said any immediate concerns should be brought to their attention via their bitmessage accounts for fastest response. They are still committed to the success of heavycoin.

But that is NOT COOL!

We should not have to go out of our way to reach out to them.  They should be in CONSTANT contact with us via the forums (at the least).  They should not be making an "appearance" here and there but should be working hand in hand with the community.  This is the 2nd biggest problem we have right now!

IE What are the "very busy" doing?  Real life work? Work on the coin code? Work on Marketing? Etc.

Are they working on things we the community and supporters of the coin think/need working on, or are they working on things they feel like working on which we the community might not think is that important right now (in the scheme of things) with the value dropping the way it is.  Have they "lost touch" with the community and what WE NEED?

Maybe I'm being overly "critical" but it blows my mind they made over 100K on the launch of this coin from the IPO and we really haven't gotten much from them since it launched IMHO.

[mfqrs3]

I have sold mine 50k, better now than later when coin bottoms out.

[SimkoMiner]

I don't wanna look naive but low-power, ultra-secure and fast HVC still has advantages which can be greatly appreciated during summer when ASICs hit market with full power. Gridseeds already started this new era of crypto-world disruption. And it is quite clear that all those ASIC manufacturers already mine too secretly while testing the devices. Not talking about the fact that hashing will be centralized by huge ASIC farms. See below KNC hashing farm. It's just i.n.s.a.n.e.  I believe majority of miners will be quite disappointed when ASIC farms start centralizing hashing power and dumping all the coins immediately to cover electricity and hosting costs. GPU guys will be done, guys who bought some ASICs will never profit as well because till those ASIC machines will be shipped to them, the ASIC farms will be couple of steps ahead of them again and difficulty up again. The only way to earn some money with ASIC will be sticking to mining freshly launched shitcoins, and when they hit exchange...just dump them, the first ones will be the winners, majority loosers. But again the ASIC farms will have huge advantage over single ASIC owners. And poor GPU owners will have simply no other option just to stick to GPU coins, or just dump their hardware to eBay. Oh yeah, and I forgot, playing new games with quad-gpu in cross-fire is an experience worth earning millions of coins.

[cayars]

Just another example of ongoing problems.

http://heavychain.info is STILL DOWN.

Are there no monitoring in place to know when things like this aren't working?

[kahir]

Floor at 500 ?

[bradmurmz]

Wow... Looks like the trolls have fully taken over. so sad  

I have been so busy working on CrypTrader I just have not had time to fight the trolls anymore myself. Amazing to me how out of all the crapto-currencies out there, people lose faith in this one so easily, shows that herd mentality is sometimes stronger than what is actually being traded.  Looks like this will be a longer term investment.

With all this effort being placed into trolling, it just indicates an interest by some groups of people to to control the market... which usually means they will be pumping the crap out of it some point in the future. I will just wait till that happens and sell a little at that point to hedge risk of this being repeated. Long term though I just don't see this not being a very valuable coin still, especially once the LTC scrypts are out in full effect... there are going to be so many new people interested.

[cayars]

Wow... Looks like the trolls have fully taken over. so sad  

I have been so busy working on CrypTrader I just have not had time to fight the trolls anymore myself. Amazing to me how out of all the crapto-currencies out there, people lose faith in this one so easily, shows that herd mentality is sometimes stronger than what is actually being traded.  Looks like this will be a longer term investment.

With all this effort being placed into trolling, it just indicates an interest by some groups of people to to control the market... which usually means they will be pumping the crap out of it some point in the future. I will just wait till that happens and sell a little at that point to hedge risk of this being repeated. Long term though I just don't see this not being a very valuable coin still, especially once the LTC scrypts are out in full effect... there are going to be so many new people interested.

It's not really like that at all.
You obviously haven't been around much or you would know what's going on.

There are major issues with the coin and we have tried to reach out to the devs. They are not interested in fixing things it appears. We tried to rally to get votes down to handle the situation ourselves but really isn't possible.

Things like http://heavychain.info aren't working.  Price of HVC is steadily dropping (0.00001261 right now on MintPal). Devs don't show up to let us know what's going on.  How do you not start to loose faith?

[miningpoolhub]

Pool hash rates and miners

pool	rate (Mh/s)*	delta***	% of network	miners**	rate/miner	fee (%)	payout
http://hvc.1gh.com/	26,241.76	-9,825.85	53.58			1	RBPPS
http://heavycoin.zhpool.com/	19,323.70	-2,397.40	39.45	344.4	56.11	1	PPLNS
http://heavycoin.miningpoolhub.com/	7,204.36	5,665.21	14.71	38.9	185.2	1	PROP
http://hvc.nonce-pool.com/	471.34	-483.94	0.96	28.3	38.4	1	PPLNS
https://heavycoinpool.com/	0.00	0.00	0	0	0		(shut  down)
http://heavy.stablehash.com/	0.00	0.00	0	0	0	1	PROP
https://hvc.crunchharder.net/	0.00	0.00	0	0	0	2	PPLNS
total	53,241.16	-7,041.98
network rate (heavychain.com)	48,980

* due to rate variability displayed through pool statistics pages, rates are based on average of 10 samples over the past hour
** miner count for 1gh unavailable
*** Delta since last update

Block Progression and Pool Luck

last 24h 1gh nonce zhpool poolhub hash avg 28,185.95 546.83 19,816.45 5,618.89 blocks 398 8 261 51 hash % 52.03 1.01 36.58 10.37 blocks % 55.42 1.11 36.34 7.13 luck % 106.50 110.30 99.30 68.70

| | | | | | | |

last 7d 1gh nonce zhpool poolhub hash avg 36,140.36 841.52 25,454.91 5,074.91 blocks 3,208 74 2,121 280 hash % 53.53 1.25 37.70 7.52 blocks % 56.45 1.30 37.32 4.93 luck % 105.45 104.46 98.99 65.54

1gh Top stats

Top 100 Mhash/s | Top 10 Mhash/s Total: 22,226.19 | Total: 6,997.59 Mean rate: 222.26 | Mean rate: 699.76 Median rate: 131.27 | Median rate: 563.12 Mode(10) rate: 60 | Mode(100) rate: 500 % of pool: 84.7% | % of pool: 26.7% % of network: 41.7% | % of network: 13.1%

Pool voting

Mining (indicative, not authoritative!)

payoff per Mhash/s / day ideal solo 1gh nonce zhpool poolhub HVC 6.52803 6.53 6.47 6.13 4.06 mBTC 0.10118 0.10 0.10 0.09 0.06 USD 0.05127 0.05 0.05 0.05 0.03

| | | | | |

pool take/day 1gh nonce zhpool poolhub HVC 2,383.09 54.97 1,575.60 208.00 BTC 0.04 0.00 0.02 0.00 USD 18.72 0.43 12.37 1.63

Based on last 7 days performance and... block reward: HVC520 | mBTC/HVC: 0.0155 | USD/BTC: $506.7

Thanks!

[TheRealSteve]

it is time for those beautiful charts to be posted

That's not for another 12.5 hours or so

At least it looks like http://hvc.42tx.com/ has caught up with the chain again, so I'll give filling in the blanks another go tomorrow.

Edit: Only a few, unfortunately - looks like it didn't really 'catch up' so much as re-started counting them.  There's a whole chunk of blocks missing from that explorer.

[SimkoMiner]

OK...  take a chill pill everybody...  it is time for those beautiful charts to be posted...  maybe the pool operators should make a promotional post about their pools too...  hopefully there will be people from the Thunderclap stoping by soon...  let's be prepared to provide information.

+1000. I took couple of pills, three beers and popcorn. ;-). Buying 100K when the price hits 1000.

[cayars]

I don't wanna look naive but low-power, ultra-secure and fast HVC still has advantages which can be greatly appreciated during summer when ASICs hit market with full power. Gridseeds already started this new era of crypto-world disruption. And it is quite clear that all those ASIC manufacturers already mine too secretly while testing the devices. Not talking about the fact that hashing will be centralized by huge ASIC farms. See below KNC hashing farm. It's just i.n.s.a.n.e.  I believe majority of miners will be quite disappointed when ASIC farms start centralizing hashing power and dumping all the coins immediately to cover electricity and hosting costs. GPU guys will be done, guys who bought some ASICs will never profit as well because till those ASIC machines will be shipped to them, the ASIC farms will be couple of steps ahead of them again and difficulty up again. The only way to earn some money with ASIC will be sticking to mining freshly launched shitcoins, and when they hit exchange...just dump them, the first ones will be the winners, majority loosers. But again the ASIC farms will have huge advantage over single ASIC owners. And poor GPU owners will have simply no other option just to stick to GPU coins, or just dump their hardware to eBay. Oh yeah, and I forgot, playing new games with quad-gpu in cross-fire is an experience worth earning millions of coins.

SimkoMiner,

Do you remember where you got this from?  Love to read more about it.