NA

[CIG]

Question for those with more experience with blockchains than me.  Sorry if we already covered this and I missed it.

Observation: Last night, Gf7wGAwJGDLfoHcNCRLKZqpk2EQU5ixA6c mined blocks 113,242 to 113,254 (13 blocks) in a little under 6 minutes.  grabbing 13,000 NLG with what I assume was a lot of hashing power.  Gf7 then stops mining NLG.  As a result of so many blocks getting solved so quickly, the network difficulty jumps significantly and only 1 block (113258) gets mined for almost 2 hours.   You see this pattern consistently.. Gf7 solving a lot of blocks in a few minutes with a lot of hashing power, then departing, only to come back later when the network difficulty is low again. 

Opinion: If Gf7 is a miner only looking to dump NLG as soon as he/she gets it, I don't blame them for doing what the're doing.. seems most profitable this way.. jumping from alt-coin to alt-coin with a lot of hashing power.. but this type of behavior doesn't really seem fair to the rest of the mining network and their profitability, who get stuck mining at much higher difficulty for a long period of time because Gf7 mined so many blocks so quickly.  It's also obviously not good for the network with long periods of time without confirmations.

Questions: From a merchant point of view, do the point of sales tools they use get affected by not having confirmations in the network for a long period of time?  I assuming there is nothing that can be done about this type of behavior.. Anyone have a problem with this? Or is this to be expected and there is nothing that can be done about this until the network difficulty is so high, this type of quick hitting isn't possible anymore? 

Kimoto Gravity Well making large percentage difficulty changes as a result of the high hashpower quick hits:

2014-09-07 03:09:53 Difficulty Retarget - Kimoto Gravity Well
2014-09-07 03:09:53 PastRateAdjustmentRatio = 1.31683

2014-09-07 04:23:16 Difficulty Retarget - Kimoto Gravity Well
2014-09-07 04:23:16 PastRateAdjustmentRatio = 0.865962

Again, sorry of this has already been covered.. All the best --Mark

Hi Mark,

I will try answer your questions as best I can. So these wild swings in hash normally occur when we have a wide trade margin in a short space of time.
eg. Highest bid 1100 and Lowest sell 1400. Someone will take out the 1400 sell order and a minute later someone will sell at 1100, this also occurs when the price is decreasing slowly, miners start switching off, we have a reversal in price to the upside and surge in hash power.

With above being said once those long block times have been resolved the next blocks get resolved really quickly to create some sort of balance.

Regarding litebit I think they do have a set time that they will credit a buyers account and same with litepaid. The times I have spent through litepaid its been quick.

Having miners like Gf7 is kinda necessary as he will provide NLG supply to the exchanges where I know a lot of our other miners are hording. Also the surge from that miner could potentially offset a 51% attack.

To conclude I believe the NLG network will continue to grow as we as a community and team prove our worth to the rest of the crypto followers and as we introduce more Dutch people into Cryptos.
I bet most of us would of settled for a price of 500 at the end of december with GH/s above 5. I am personally extremely pleased with where we are today and the best is still to come!

Sorry but I don't agree with this statement. A coin can easily do without these miners because they only destabilise the system by causing very short and very long blocktimes. There is also no connection between manipulating the protocol to gain a few extra coins and hording. This guy can also be hording you don't know.

I don't understand how a surge from such miner can initiate a 51% attack.

What is happening with block 113960? According to https://explorer.guldencoin.com/#/ and http://www.guldencointrader.nl/ is block 113960 found before block 113959.

[1714916783]

1714916783

[1714916783]

1714916783

[veertje]

What is happening with block 113960? According to https://explorer.guldencoin.com/#/ and http://www.guldencointrader.nl/ is block 113960 found before block 113959.

Network is safe. Team has already gave an explanation for this. Happens more often. It is about timestamps of the pooloperators not exactly correct with realtime. Some blocks are found fast after a long time blockfind and it is about seconds.

[CIG]

Network is safe. Team has already gave an explanation for this. Happens more often. It is about timestamps of the pooloperators not exactly correct with realtime. Some blocks are found fast after a long time blockfind and it is about seconds.

Good to hear the network is safe.

[WaterLooDown]

Dev Update:

Android wallet has been updated again and in the play store.

New security checkpoints added.

This was done as the number of users using smartphones have been increasing by the week and will be done once a month going forward so new users don't have to wait for long sync times.

[WaterLooDown]

Dev Update:

Android wallet has been updated again and in the play store.

New security checkpoints added.

This was done as the number of users using smartphones have been increasing by the week and will be done once a month going forward so new users don't have to wait for long sync times.

For those that weren't around over the weekend the following updates have occurred.

1. New Block Explorer built from scratch by one of our Devs. It is currently in Beta, please have a look at let us know what features you would like to see added.

https://explorer.guldencoin.com
https://forum.guldencoin.com/index.php?topic=496.0  --> For more info from Geert himself.

2. Forums have been moved behind cloudflare with the increased DDOS attacks we been having. We also took the time to update the look of the forums. (Ticker will be put back soon)
https://forum.guldencoin.com

3. As mentioned above , new Android Wallet, checkpoints to be added monthly.

Please let us know if you have any questions regarding the above.

[CIG]

Problem around hash spread is getting worse last days.

Actual figures:
Date              NLG Received by Gf7wGA  Blocks found   % of 576000
2014-09-01   336.000,26530000         336000            58,3%
2014-09-02   412.002,55330000         412000            71,5%
2014-09-03   461.001,62930000         461000            80,0%
2014-09-04   474.000,98565000         474000            82,3%
2014-09-05   497.001,14100000         497000            86,3%
2014-09-06   477.001,76475005         477000            82,8%
2014-09-07   518.001,02310000         518000            89,9%

Apart from a possible 51% attack, there's another problem: you see that other miners quit because Gf7wGA cheats by mining only at low diff.

[veertje]

Problem around hash spread is getting worse last days.

Actual figures:
Date              NLG Received by Gf7wGA  Blocks found   % of 576000
2014-09-01   336.000,26530000         336000            58,3%
2014-09-02   412.002,55330000         412000            71,5%
2014-09-03   461.001,62930000         461000            80,0%
2014-09-04   474.000,98565000         474000            82,3%
2014-09-05   497.001,14100000         497000            86,3%
2014-09-06   477.001,76475005         477000            82,8%
2014-09-07   518.001,02310000         518000            89,9%

Apart from a possible 51% attack, there's another problem: you see that other miners quit because Gf7wGA cheats by mining only at low diff.

Not correct. Coins recieved by  Gf7wGA is not blockfind x blockreward (1000). He recieves about 39.000 NLG a day atm according to stats of hardcoreminers. If he finds a block (and he finds the most), the blockreward of 1000 NLG is spread over all miners according to % hashpower contributed.

[CIG]

Problem around hash spread is getting worse last days.

Actual figures:
Date              NLG Received by Gf7wGA  Blocks found   % of 576000
2014-09-01   336.000,26530000         336000            58,3%
2014-09-02   412.002,55330000         412000            71,5%
2014-09-03   461.001,62930000         461000            80,0%
2014-09-04   474.000,98565000         474000            82,3%
2014-09-05   497.001,14100000         497000            86,3%
2014-09-06   477.001,76475005         477000            82,8%
2014-09-07   518.001,02310000         518000            89,9%

Apart from a possible 51% attack, there's another problem: you see that other miners quit because Gf7wGA cheats by mining only at low diff.

Not correct. Coins recieved by  Gf7wGA is not blockfind x blockreward (1000). He recieves about 39.000 NLG a day atm according to stats of hardcoreminers. If he finds a block (and he finds the most), the blockreward of 1000 NLG is spread over all miners according to % hashpower contributed.

Adress of Hardcoreminingpool is GNDA5MZWcm4AjLtNuEmYpgH8qsxo4vrnY8 see blockchain Last block found by lucjver 113993.
So I'm not talking about hardcoremining but Gf7wGAwJGDLfoHcNCRLKZqpk2EQU5ixA6c

Blocks found should be /1000, but the % stays the same.

[veertje]

So I'm not talking about hardcoremining but Gf7wGAwJGDLfoHcNCRLKZqpk2EQU5ixA6c

His total balance is 137000 NLG

Details
Address    Gf7wGAwJGDLfoHcNCRLKZqpk2EQU5ixA6c

Balance       137000.50700000

 It is automated transactionscript or something? He transfers tiny bits all the time. This address is associated with a tradingrobot script maybe?

[TamiLee]

Problem around hash spread is getting worse last days.

Actual figures:
Date              NLG Received by Gf7wGA  Blocks found   % of 576000
2014-09-01   336.000,26530000         336000            58,3%
2014-09-02   412.002,55330000         412000            71,5%
2014-09-03   461.001,62930000         461000            80,0%
2014-09-04   474.000,98565000         474000            82,3%
2014-09-05   497.001,14100000         497000            86,3%
2014-09-06   477.001,76475005         477000            82,8%
2014-09-07   518.001,02310000         518000            89,9%

Apart from a possible 51% attack, there's another problem: you see that other miners quit because Gf7wGA cheats by mining only at low diff.

In the event NLG goes into top 20 marketcap(and hold) the network hash will increase to a point where miner Gf7wGA will have less of an effect, this must be motivation for the team and community to push harder for updates, I don't think the current pace of updates can be kept up personally but even if September and October is half as good as August, the coin will be above Feathercoin in marketcap by middle of November.

[CIG]

If this is about 1000 blockreward all the time it is strange.

Open the blocks and you'll see it's truly the blockreward (with sometimes the tiny fees).

Balance       137000.50700000

 It is automated transactionscript or something? He transfers tiny bits all the time, nothing to do with blockfind, I suppose. This address is associated with a tradingrobot script maybe?

Likely a script, that monitors the diff and maybe renting power on Nicehash. I see on Nicehash a script execute pending orders (17GH) at the lowest price.

[Bluestreet]

Problem around hash spread is getting worse last days.

Actual figures:
Date              NLG Received by Gf7wGA  Blocks found   % of 576000
2014-09-01   336.000,26530000         336000            58,3%
2014-09-02   412.002,55330000         412000            71,5%
2014-09-03   461.001,62930000         461000            80,0%
2014-09-04   474.000,98565000         474000            82,3%
2014-09-05   497.001,14100000         497000            86,3%
2014-09-06   477.001,76475005         477000            82,8%
2014-09-07   518.001,02310000         518000            89,9%

Apart from a possible 51% attack, there's another problem: you see that other miners quit because Gf7wGA cheats by mining only at low diff.

In the event NLG goes into top 20 marketcap(and hold) the network hash will increase to a point where miner Gf7wGA will have less of an effect, this must be motivation for the team and community to push harder for updates, I don't think the current pace of updates can be kept up personally but even if September and October is half as good as August, the coin will be above Feathercoin in marketcap by middle of November.

I disagree, the coin should be top 20 already but it just needs more attention now... people who take the time to see what has been done for the coin instantly see the potential.

[CIG]

 I see now this is about blocks in the 17000's. We are now at block 114033. So this is not an active miner atm.

https://explorer.guldencoin.com/#/address/Gf7wGAwJGDLfoHcNCRLKZqpk2EQU5ixA6c
Still mining

Edit
correct link:
https://explorer.guldencoin.com/#/block/ea49463a6df5ec9ae36b5af263560a51fc43503e8ce343caa0de93ffad568f62
/Edit

[veertje]

I disagree, the coin should be top 20 already but it just needs more attention now... people who take the time to see what has been done for the coin instantly see the potential.

Top 20 sooner or later. I think sooner than later  

[veertje]

 I see now this is about blocks in the 17000's. We are now at block 114033. So this is not an active miner atm.

https://explorer.guldencoin.com/#/address/Gf7wGAwJGDLfoHcNCRLKZqpk2EQU5ixA6c
Still mining

Ok, I see. Indexnumber is not blocknumber. This guy wants cash. We want NLG.   If I was him, I would keep the coins for higher prices later on.

He'd better go to other coins to mine, sell those and buy NLG, instead of selling. Stupid miner  

[LTEX]

Just a question to you all;

Would you buy 1mh scrypt mining contract for 0,1btc a year If you could pay with guldencoin?

Because I want to keep my NLG!

[mainpmf]

Fellas pls, shall I wait on purchasing nlg or not really?
I feel like the market is stabilising for now, maybe I should acquire some nlg's right now?

[Digithusiast]

mainpmf, nobody knows for sure which way it will go,
but my guess is the value of NLG will increase a lot soon.

[Bluestreet]

Fellas pls, shall I wait on purchasing nlg or not really?
I feel like the market is stabilising for now, maybe I should acquire some nlg's right now?

Tough call, I don't even know myself.

[Buerra]

Fellas pls, shall I wait on purchasing nlg or not really?
I feel like the market is stabilising for now, maybe I should acquire some nlg's right now?

I'd say buy in small amounts, don't put 2 BTC to the sell side at once. For example buy 0.01-0.05BTC worth a day or every 8 hours, so you will have a bit of percentage and best bang for your Bitcoin when the market swings between low and high. And when you see a sell order under 1000 sat just scoop that up entirely. But other than that, I'd say take it slow and don't buy too much in one go to prevent buying too high.

Just my two cents