[LOGIC] Logicoin | Decentralized Anonymous Smart Contracts | Blockchain Tech

[sungrely]

DEV,we need more exchanges!!!!

[decanus21]

DEV,we need more exchanges!!!!

Then do your bit and keep the votes coming on Mintpal - https://www.mintpal.com/voting#LGC

A coin is only as good as the community that supports it

edit: a 6 BTC buy wall on poloniex at the moment, must be very interested in Logi!

[Logicoin.info]

DEV,we need more exchanges!!!!

I've contact bittrex and it sound's like listing us is certainly a possiblity. My only concern is that we spread ourselves too thin and open ourselves upto manipulation.


As for our current issue. I've contacted Trade My Bit via IRC and they still have our block reward set as 50LGC. I've alerted them to the fact that we are now on a block reward of 25LGC so hopefully once they make the change it will make us less attractive to them. I'll keep you guys updated.

[Logicoin.info]

Keep it civil guys we are all friends

It could indeed by the chinese testing out ASIC's which will be a mixed bag if true. It could on one hand do wonders for the price of LGC (If people keep faith) but it would also eventually take the coin out of the everyday miners which is the exact opposite of what we wanted for Logicoin. It's worth noting that we will do everything in our power to stop that from happening.

On the plus side DGW is handling the huge increase and decrease in hashrate exceptionally well.

Yes sir. Sorry I got a little steamed. I've just been following from birth, and this is one of the very few new altcoins that I have no doubts is above board, never-mind the fact that it has a dev team that is not only dedicated to it, but also the greater altcoin community. Impressive work all around, and I never said - but congratulations on being an uncle!

No Worries, I appreciate the love you have for LGC

Thanks for the congrats! Glad I'm just an uncle and not a father though!

[Eastwind]

There is no block for the last 36 mins? Does it mean trade my bit has left?

Edit: It took 42 mins to find a block. Is it a record? The difficulty was just 64.

[peter Jayzelklk]

LGC is a great concept for a coin, and I hope you find someone to keep it alive and become something bigger.

[MadGhost]

which pool is best to mine this coin ?

[Eastwind]

Is there a kind of block withholding attack? So many blocks were solved by Trade My Bit in so short period.

48194   1 minute   1   25.0 LGC   31.79   Trade My Bit
48193   2 minutes   1   25.0 LGC   30.63   Trade My Bit
48192   2 minutes   1   25.0 LGC   29.65   Trade My Bit
48191   2 minutes   1   25.0 LGC   27.46   Trade My Bit
48190   2 minutes   1   25.0 LGC   38.32   Trade My Bit
48189   7 minutes   2   75.0 LGC   41.28   Trade My Bit
48188   8 minutes   1   25.0 LGC   38.99   Trade My Bit
48187   8 minutes   1   25.0 LGC   38.55   P2Pool
48186   8 minutes   1   25.0 LGC   33.80   mine-coin.de
48185   8 minutes   2   42.0016919 LGC   24.41   Trade My Bit
48184   9 minutes   1   25.0 LGC   19.63   Trade My Bit
48183   9 minutes   1   25.0 LGC   16.58   Trade My Bit
48182   9 minutes   1   25.0 LGC   15.44   Trade My Bit
48181   9 minutes   1   25.0 LGC   13.58   Trade My Bit
48180   9 minutes   1   25.0 LGC   14.02   Trade My Bit
48179   9 minutes   1   25.0 LGC   13.12   Trade My Bit
48178   9 minutes   1   25.0 LGC   13.09   Trade My Bit
48177   9 minutes   1   25.0 LGC   12.83   Trade My Bit
48176   9 minutes   1   25.0 LGC   13.06   Trade My Bit
48175   9 minutes   1   25.0 LGC   13.78   Trade My Bit
48174   9 minutes   1   25.0 LGC   10.91   Trade My Bit
48173   9 minutes   1   25.0 LGC   10.69   Trade My Bit
48172   9 minutes   1   25.0 LGC   8.01   Trade My Bit
48171   9 minutes   2   75.0 LGC   2.25   Trade My Bit
48170   9 minutes   1   25.0 LGC   2.63   Trade My Bit
48169   10 minutes   1   25.0 LGC   3.07   Trade My Bit
48168   10 minutes   1   25.0 LGC   3.56   Trade My Bit
48167   10 minutes   1   25.0 LGC   4.15   Trade My Bit
48166   10 minutes   1   25.0 LGC   4.80   Trade My Bit
48165   10 minutes   1   25.0 LGC   5.63   Trade My Bit
48164   10 minutes   1   25.0 LGC   6.57   Trade My Bit
48163   10 minutes   1   25.0 LGC   7.59   Trade My Bit
48162   10 minutes   1   25.0 LGC   8.69   Trade My Bit
48161   10 minutes   1   25.0 LGC   9.93   Trade My Bit
48160   10 minutes   1   25.0 LGC   11.31   Trade My Bit
48159   10 minutes   2   50.0 LGC   12.91   Trade My Bit
48158   12 minutes   2   8,950.139 LGC   13.22   Trade My Bit

[Logicoin.info]

There is no block for the last 36 mins? Does it mean trade my bit has left?

Okay I'm going to try and explain this as clearly as possible.

Trade my Bit believes we are still on 50 LGC per block which puts us as #2nd most profitable x11 coin.

So heres what happens.

They jump on the network and start mining LGC. Difficulty skyrockets to 60-70 at which point they leave and start mining something else. They have left the network and have taken their hashrate with them which means that untill we solve a block we are stuck at a difficulty that is way higher than it should be in comparison to hashrate. We solve that block after 10-30 minutes and DGW adjust's hashrate back down to the -10 range. Trade My Bit then thinks that because of the low difficulty we are again profitable so they jump back on the network and the whole process starts over again.


I have contacted Trade My Bit about the incorrect block reward and asking that LGC be deslited from their multipool. Any assitance you guys could offer would be amazing.

Here is their BTCTalk thread https://bitcointalk.org/index.php?topic=386554.0
And IRC irc.framper.com in #pool

[Logicoin.info]

Is there a kind of block withholding attack? So many blocks were solved by Trade My Bit in so short period.

48188   5 minutes   1   25.0 LGC   38.99   Trade My Bit
48187   5 minutes   1   25.0 LGC   38.55   P2Pool
48186   6 minutes   1   25.0 LGC   33.80   mine-coin.de
48185   6 minutes   2   42.0016919 LGC   24.41   Trade My Bit
48184   6 minutes   1   25.0 LGC   19.63   Trade My Bit
48183   6 minutes   1   25.0 LGC   16.58   Trade My Bit
48182   6 minutes   1   25.0 LGC   15.44   Trade My Bit
48181   6 minutes   1   25.0 LGC   13.58   Trade My Bit
48180   6 minutes   1   25.0 LGC   14.02   Trade My Bit
48179   6 minutes   1   25.0 LGC   13.12   Trade My Bit
48178   6 minutes   1   25.0 LGC   13.09   Trade My Bit
48177   6 minutes   1   25.0 LGC   12.83   Trade My Bit
48176   6 minutes   1   25.0 LGC   13.06   Trade My Bit
48175   7 minutes   1   25.0 LGC   13.78   Trade My Bit
48174   7 minutes   1   25.0 LGC   10.91   Trade My Bit
48173   7 minutes   1   25.0 LGC   10.69   Trade My Bit
48172   7 minutes   1   25.0 LGC   8.01   Trade My Bit
48171   7 minutes   2   75.0 LGC   2.25   Trade My Bit
48170   7 minutes   1   25.0 LGC   2.63   Trade My Bit
48169   7 minutes   1   25.0 LGC   3.07   Trade My Bit
48168   7 minutes   1   25.0 LGC   3.56   Trade My Bit
48167   7 minutes   1   25.0 LGC   4.15   Trade My Bit
48166   7 minutes   1   25.0 LGC   4.80   Trade My Bit
48165   7 minutes   1   25.0 LGC   5.63   Trade My Bit
48164   7 minutes   1   25.0 LGC   6.57   Trade My Bit
48163   7 minutes   1   25.0 LGC   7.59   Trade My Bit
48162   7 minutes   1   25.0 LGC   8.69   Trade My Bit
48161   7 minutes   1   25.0 LGC   9.93   Trade My Bit
48160   7 minutes   1   25.0 LGC   11.31   Trade My Bit
48159   7 minutes   2   50.0 LGC   12.91   Trade My Bit
48158   9 minutes   2   8,950.139 LGC   13.22   Trade My Bit

Read my above reply but to go even further into explanation:

Once the difficulty jumps back down to where it should be DGW kicks in and tries to even the network out so that it hits 1 block per 60 seconds (as it should) which is why they solve so many blocks in quick succession. The difficulty than readjusts and spikes upwards kicking the entire process off again.

[Eastwind]

Trade My Bit got 8.94GH/s on us. Our usual mining hash is only 1.67GH/s.

Will DGW3 alleviate this problem?

[Logicoin.info]

Trade My Bit got 8.94GH/s on us. Our usual mining hash is only 1.67GH/s.

Will DGW3 alleviate this problem?

It may do a little to help us but it would still be an issue. I have tried contacting the admins on both the forums here and IRC. Awaiting a reply and you guys will be the first to know.

[Logicoin.info]

Okay I've just recieved a reply from one of the dev team

<Logicoin> Hi merc
<Logicoin> I've sent you a PM on the BTCTalk forums
<merc> I got the message, i've updated the block reward already -- and will monitor what we do to the difficulty
<merc> apologies for any issues we're causing
<merc> if we continue to cause difficulty spikes i'll remove it from our x11 multiport

I will continue to moniter the network over the next few hours and keep in contact with trade my bit.

[fairglu]

I will continue to moniter the network over the next few hours and keep in contact with trade my bit.

Trade My Bit isn't the only problem, the dominating pool used to be 5limi
http://chainz.cryptoid.info/lgc/extraction.dws?4.htm
But apparently they're experiencing downtime and took with them a good chunk of the "base" hashrate.

[Logicoin.info]

I will continue to moniter the network over the next few hours and keep in contact with trade my bit.

Trade My Bit isn't the only problem, the dominating pool used to be 5limi
http://chainz.cryptoid.info/lgc/extraction.dws?4.htm
But apparently they're experiencing downtime and took with them a good chunk of the "base" hashrate.

5limi was a constant contributor to hashrate though. Unlike trade my bit they didn't jump off to another coin when difficulty raised which is the main problem as it leaves the difficulty out of whack with the hashrate.

Please understand that this is an even bigger issue for the LGC dev team. We have been stressing out all day looking for a solution!

[Hippie Tech]

I have contacted Trade My Bit about the incorrect block reward and asking that LGC be deslited from their multipool. Any assitance you guys could offer would be amazing.

Ohhh the lolzz..  "go away you meany multi pool !"

You didn't seem to mind them before this...

Has Trade my Bit been checked for any of these ?

fake hash vulnerability  #66
https://github.com/slush0/stratum-mining-proxy/issues/66

Flooding with shares below the pool target #326
https://github.com/Crypto-Expert/stratum-mining/issues/326

[Logicoin.info]

I have contacted Trade My Bit about the incorrect block reward and asking that LGC be deslited from their multipool. Any assitance you guys could offer would be amazing.

Ohhh the lolzz..  "go away you meany multi pool !"

You didn't seem to mind them before this...

Has Trade my Bit been checked for any of these ?

fake hash vulnerability  #66
https://github.com/slush0/stratum-mining-proxy/issues/66

Flooding with shares below the pool target #326
https://github.com/Crypto-Expert/stratum-mining/issues/326

Those only affect pool hashrate and not global hash rate.  You can submit as many fakeshares as you want towards the pool but that doesn't mean a block will get solved any quicker. What it means is that when the pool solves a block you get the majority of shares that come from the pool.

[Hippie Tech]

I have contacted Trade My Bit about the incorrect block reward and asking that LGC be deslited from their multipool. Any assitance you guys could offer would be amazing.

Ohhh the lolzz..  "go away you meany multi pool !"

You didn't seem to mind them before this...

Has Trade my Bit been checked for any of these ?

fake hash vulnerability  #66
https://github.com/slush0/stratum-mining-proxy/issues/66

Flooding with shares below the pool target #326
https://github.com/Crypto-Expert/stratum-mining/issues/326

Those only affect pool hashrate and not global hash rate.  You can submit as many fakeshares as you want towards the pool but that doesn't mean a block will get solved any quicker. What it means is that when the pool solves a block you get the majority of shares that come from the pool.

Do you have anything that will back up your claims ?

DGW is making its adjustments based on the pool's reported hashpower. Your statement is illogical..

[Logicoin.info]

I have contacted Trade My Bit about the incorrect block reward and asking that LGC be deslited from their multipool. Any assitance you guys could offer would be amazing.

Ohhh the lolzz..  "go away you meany multi pool !"

You didn't seem to mind them before this...

Has Trade my Bit been checked for any of these ?

fake hash vulnerability  #66
https://github.com/slush0/stratum-mining-proxy/issues/66

Flooding with shares below the pool target #326
https://github.com/Crypto-Expert/stratum-mining/issues/326

Those only affect pool hashrate and not global hash rate.  You can submit as many fakeshares as you want towards the pool but that doesn't mean a block will get solved any quicker. What it means is that when the pool solves a block you get the majority of shares that come from the pool.

Do you have anything that will back up your claims ?

DGW is making its adjustments based on the pool's reported hashpower. Your statement is illogical..

No. DGW is making adjustments based on the amount of blocks solved and the total network hashrate.  It makes adjustments based on the coind's networkhashps.

Maybe this thread will explain it better than I can. https://bitcointalk.org/index.php?topic=513382.0

[Obfuscode]

...

DGW is making its adjustments based on the pool's reported hashpower. Your statement is illogical..

Wrong.

DGW is applied network-wide on every peer because each and every peer has to verify the blocks and that's only possible with the exact same difficulty factor.

DGW gets it's input from the blocks solved in the past N time and also (mostly) from the network-hashrate reported by the peers.

A very quick increase in network-hashrate will always result in a drastic adjustment of the difficulty.
Whereas when it goes down again, it will also be re-adjusted down.

Please stop making such claims, this is just how crypto-currencies work.

If you only do a fraction of the network, you only have a fraction of chance to really find the block.

- f0o