[KSC] KASHMIRCOIN - MANDATORY UPDATE! - - - "BURIED" POW - cWallet - 50% POS

[chronicsky]

OK so Not sure if anyone is on today. The Kashmir pool is back up. The POW is currently working and the block chain is moving fast. I put a miner on the pool and the wallet is reporting the hash rate for the network. So far it looks like the DEV is mining the coins  and telling all of us to Stake.  

So I mean it is starting look suspicious and I am about to go to twitter with it.

I don't think that's true , though i am not sure , but he did asked me to put a miner on it some days ago , cos PoS ain't working and for confirmation , untill the problem is solved , the blocks will be confirmed through PoW , though block rewards are zero
OR are you getting any reward?

[1715381507]

1715381507

[KashmirCoin]

OK so Not sure if anyone is on today. The Kashmir pool is back up. The POW is currently working and the block chain is moving fast. I put a miner on the pool and the wallet is reporting the hash rate for the network. So far it looks like the DEV is mining the coins  and telling all of us to Stake.  

So I mean it is starting look suspicious and I am about to go to twitter with it.

I don't think that's true , though i am not sure , but he did asked me to put a miner on it some days ago , cos PoS ain't working and for confirmation , untill the problem is solved , the blocks will be confirmed through PoW , though block rewards are zero
OR are you getting any reward?

That's right, we've added some PoW blocks with zero reward for smooth switching to PoS. Here's the link to block explorer, you can see that there are no rewards for PoW, so you don't have to mine it: http://abe.kashmircoin.org/block/212baf58e1ffe497a43293389e31ef7212f79204eb7ca0b4af77831cb30e7063

[KashmirCoin]

Hello!

Sorry for my absence, I'll be back completely in a few hours with a new release.

Please label the releases from now on.
It will make it easier for everybody.

Thanx

Ok, thanks!

I see there are many questions I have to answer here. Sorry for the delay, i will post here all the info + some good news after the release in the next hours.

[IMJim]

Was just coming on to see what was up with the hashrate and POW difficulty:-)

Glad to see you back dev........let's try to keep this thread active brother!

[jkleohart]

The more I look at the block chain the more and more pissed off I am getting! There hasn't been any POS has there? The only POS has been from transaction fee collection? Like with Vericoin?

[IMJim]

I have made about .4 KSC since POS kicked in, not sure if that is good or not and it has been up and down but seems decent compared to what I was getting when mining and taking into consideration the power costs that were involved with POW.

[jkleohart]

Well according to the block chain all the blocks since 89002 have been 0 generation blocks with transaction fees. http://abe.kashmircoin.org/block/3b53215a1e78e9ce2323575e59681120a381074ee8aa6958fdb3a29ed3ef1b93 That is block 89002 start clicking through to present.

[jkleohart]

Here at this block you really start getting chumped out http://abe.kashmircoin.org/block/5c159f3379241d1ad4d304eec1316027337df174c319ae9da1098734e1e6b531

[IMJim]

Sorry man, I don't know enough of what I am looking at to really see a problem.  Am sure dev will address your concerns.  I ca only report that I have earned what I have since POS kicked in bud.

[jkleohart]

I understand how traditional POS works. You make all the coins and then you get transaction fees from processing transactions. If everyone starts just sending coins to each other then some folks will get POS. The problem is no coins are actually being generated as far as I can see on the block chain, you are just collecting transaction fees. If 114 coins are in existance we need to be creating more coins.

[jkleohart]

OK. I'm cool. I am going to relax. This is new ground.

[IMJim]

Not sure man, I know we are supposed to be creating new coins during POS but can't verify we are not as I don't really know what I am looking at in a block explorer.  I suppose I probably should by now, but never really messed with it.  Guess we will have to wait on dev's response, but I know he has been working on some issues since switching to POS and another update is supposed to be coming to resolve more of them.

[ikydesu]

i like rare coin!

just one exchanger?

[jkleohart]

OK. We probably need to set up a mining pool that is POW. Have it all go to a single wallet. Automatically transfer to another wallet every block and pay a 99% transaction fee every time. The trick is how to keep someone who is smart solo-miner from mining once you change back to POW.

[testcoin]

h

Not sure man, I know we are supposed to be creating new coins during POS but can't verify we are not as I don't really know what I am looking at in a block explorer.  I suppose I probably should by now, but never really messed with it.  Guess we will have to wait on dev's response, but I know he has been working on some issues since switching to POS and another update is supposed to be coming to resolve more of them.

I just hope that the dev can make the console working. It seems to me the console still fails to work even for the latest update.

For the PoS, it's not easy to kick start smoothly for a rare coin like this. The situation should get better later coz it's a 50% PoS.

[KashmirCoin]

OK. We probably need to set up a mining pool that is POW. Have it all go to a single wallet. Automatically transfer to another wallet every block and pay a 99% transaction fee every time. The trick is how to keep someone who is smart solo-miner from mining once you change back to POW.

lol - If I was still running my rigs, that solo-miner would be me

Just checked my CLi and it moved at some point.

Block 90419 and synced

Hello!

Please, don't mine it 

I don't want you to spend your resources on it, 'cause POW block reward is 0.

My miners are working, so blockchain is moving.

[KashmirCoin]

I understand how traditional POS works. You make all the coins and then you get transaction fees from processing transactions. If everyone starts just sending coins to each other then some folks will get POS. The problem is no coins are actually being generated as far as I can see on the block chain, you are just collecting transaction fees. If 114 coins are in existance we need to be creating more coins.

112 coins were generated during POW stage, the rest 2 coins were generated by POS blocks. Take a look at this block for example: http://abe.kashmircoin.org/block/d3da2d2cafbd2b52a390b13307dcfcdc4d671a4531f8f00bfe36600d09d15767
Generated 0,05 KSC is not tx fees.
So we don't need to create wallets & send the coins to each other.

[KashmirCoin]

About current situation:

1. I wrote a message to Swisscex about the update, now waiting for response.

2. KSC have been added to CryptoRush.in voting, but i think that it's better to concentrate on it after we will make sure that PoS is stable. How do you think?

3. We need some extra hours to release the new version. Current version is 1.0.4.

4. All pool payouts will be made tomorrow. Pool is still open, but please don't spend your hashrate, PoW mining now gives 0 reward.

Sorry, i know i'm not so active in the thread now, just want to release 1.0.5 ASAP.

[IMJim]

Thanks for the update dev, hopefully after the next update we can all try to be more active here in the thread!

I agree focus should be on stabilizing POS first.

[IMJim]

I did get another response from SwissCex as well regarding the 1 KSC withdrawal I have been waiting on.  They claim they updated to new wallet as soon as it was released, but I suspect MAY be one of the first updates and not the latest.

They manually removed my withdrawal from pending to allow me to cancel it then requested I try to withdraw a smaller amount.  Setup 2 withdrawals for .5 KSC about 2 hours ago, has not showed in wallet yet but will give it a day or 2.  Will report back when I know.