[ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet

[WuzzD]

still block 20001 on every pool i look at, for over 20 minutes now?

[ballzdeep]

https://www.minep.it/pool/xc is running but need more hash

[DRobert]

Can anyone help me answer this question:

My wallet says my coins aren't minting because they aren't mature. What does this mean and how can I solve this problem?

8 hours must elapse after depositing to your wallet before you can stake.

Nice. Thank you for answering my question. Do I need a constant connection to the internet after they are done minting to POS? I'm going to be out of town for almost a week and want to bring my laptop with me but it won't have a constant internet connection...

[BADASS]

be back

[CryptoGretzky]

still block 20001 on every pool i look at, for over 20 minutes now?

I think because a lot of pools updated to the 20k wallet... now it's totally the farm that is mining the coin...   I think it's a huge mistake to roll it back to 21k instead of the 20k wallet....

[coine_smithe]

Can anyone help me answer this question:

My wallet says my coins aren't minting because they aren't mature. What does this mean and how can I solve this problem?

8 hours must elapse after depositing to your wallet before you can stake.

Nice. Thank you for answering my question. Do I need a constant connection to the internet after they are done minting to POS? I'm going to be out of town for almost a week and want to bring my laptop with me but it won't have a constant internet connection...

In OP you can see it says max stake age is 30 days. That means after 30 days you'll stop accruing "stake weight" which means after that point basically you will be losing out on some of the interest you can accrue. So a week is fine. All that you'll miss is compounding interest which is not too terribly much for a week.

[ballzdeep]

still block 20001 on every pool i look at, for over 20 minutes now?

I think because a lot of pools updated to the 20k wallet... now it's totally the farm that is mining the coin...   I think it's a huge mistake to roll it back to 21k instead of the 20k wallet....

yea, just keeps rising....NET HASH 952.41 GH/S

[mannie]

I've been watching this coin with interest and I have to say, I don't understand the great rush with things. Why the need to transition to POS right away? If the coin isn't well distributed there's a risk of a 51% attack by a big holder having coins on minting. Is there even a distribution list/chart for the POW coins?

Because there are FPGA's accounting for about 60-70% of the net hash.  That is why.

FPGA x11 code: http://cryptography.gmu.edu/athena/index.php?id=source_codes

Okay but isn't that jumping from one security problem to another? Isn't anyone concerned about uneven distribution of staking wallets, considering a large number of coins will be bound up on exchanges?

Exchange wallets do not stake.  They disable stake.  This can be confirmed by bittrex-richie (bittrex) and tf2honeybadger (poloniex).  

That's what I mean. Coins on exchanges won't be staking thereby reducing the number of coins you would need to have 51% of minting coins. Am I wrong?

atcsecure would have to answer that one -- I'm not quite sure how it all works to be honest.

I do not want to answer for the dev but here is my take on it.

Let's say we end up at 5.6 million coins at the end of POW. (Using a low number as this is worse case scenario.) If 1/2 of the coins are on the exchanges that leaves 2.8 million in wallets for staking. If only 1/2 of the people keep there wallets unlocked and staking then that leaves 1.4 million coins staking. So a successful 51% would require 700,000 XC, about $500,000 US at current prices, which could happen but even if someone has that many I believe they would need to have knowledge and bad intentions to do damage. I doubt 1/2 of the coins will be on exchanges and I think as long as the coin is doing well it is likely more than 1/2 of them that are in wallets will be staking. Therefore not sure if it is something to be to concerned about at this time.

Please correct me if I am misunderstanding or have misrepresented anything.

I agree it's probably not likely but a double-spend exploit must be a big target for some people. I just don't get the rush to POS. Aren't there other ways to get around the big hash whales?

[CryptoGretzky]

I've been watching this coin with interest and I have to say, I don't understand the great rush with things. Why the need to transition to POS right away? If the coin isn't well distributed there's a risk of a 51% attack by a big holder having coins on minting. Is there even a distribution list/chart for the POW coins?

Because there are FPGA's accounting for about 60-70% of the net hash.  That is why.

FPGA x11 code: http://cryptography.gmu.edu/athena/index.php?id=source_codes

Okay but isn't that jumping from one security problem to another? Isn't anyone concerned about uneven distribution of staking wallets, considering a large number of coins will be bound up on exchanges?

Exchange wallets do not stake.  They disable stake.  This can be confirmed by bittrex-richie (bittrex) and tf2honeybadger (poloniex).  

That's what I mean. Coins on exchanges won't be staking thereby reducing the number of coins you would need to have 51% of minting coins. Am I wrong?

atcsecure would have to answer that one -- I'm not quite sure how it all works to be honest.

I do not want to answer for the dev but here is my take on it.

Let's say we end up at 5.6 million coins at the end of POW. (Using a low number as this is worse case scenario.) If 1/2 of the coins are on the exchanges that leaves 2.8 million in wallets for staking. If only 1/2 of the people keep there wallets unlocked and staking then that leaves 1.4 million coins staking. So a successful 51% would require 700,000 XC, about $500,000 US at current prices, which could happen but even if someone has that many I believe they would need to have knowledge and bad intentions to do damage. I doubt 1/2 of the coins will be on exchanges and I think as long as the coin is doing well it is likely more than 1/2 of them that are in wallets will be staking. Therefore not sure if it is something to be to concerned about at this time.

Please correct me if I am misunderstanding or have misrepresented anything.

I agree it's probably not likely but a double-spend exploit must be a big target for some people. I just don't get the rush to POS. Aren't there other ways to get around the big hash whales?

You don't get it because you are DRK bagholder....   People that believe in XC gets it so that it can't fork like DRK today....

[CryptoGretzky]

still block 20001 on every pool i look at, for over 20 minutes now?

I think because a lot of pools updated to the 20k wallet... now it's totally the farm that is mining the coin...   I think it's a huge mistake to roll it back to 21k instead of the 20k wallet....

yea, just keeps rising....NET HASH 952.41 GH/S

Our last 10k block basically will mostly go to the gigantic farm/multipool... our XC... no.....

[wartywarlock]

  wow quite the hasrate to wake up to! Need some more peeps to hit coinmine.pw haha seems were lower on the pecking order today.

ATCSecure, good job buddy, good job indeed.

[Thrash]

still block 20001 on every pool i look at, for over 20 minutes now?

I think because a lot of pools updated to the 20k wallet... now it's totally the farm that is mining the coin...   I think it's a huge mistake to roll it back to 21k instead of the 20k wallet....

yea, just keeps rising....NET HASH 952.41 GH/S

Our last 10k block basically will mostly go to the gigantic farm/multipool... our XC... no.....

Yes, they are mining it but it is pretty apparent they are dumping it just as fast as they get it. This is allowing some people who do not mine to buy in at a lower price than they would have been able to without the mp's. I think it may actually help the disbursement of the coin which is a good thing in the long run. Once we get to the end of POW there will be no more cheap XC.

Do not get me wrong I am not a mp fan but the end is in sight. Only 910 blocks to go.

[battbot]

***Updated to v0.9.1.4x11-coin-1.0***

Link to NEW Wallet (updated 9:45PM PST 5/26):
https://mega.co.nz/#!ZcN3xJBa!AusfqUpr6keImDaMKkOXnO165ZmEWl1WNfpuVX8EFkE

Distribution changes: PoW blocks reduced.  Now 21,000 PoW blocks @ 333 per block.  
(Estimated) Total Supply: ~5.6m XC
Estimated PoW Days Remaining: 1 day

[mannie]

I've been watching this coin with interest and I have to say, I don't understand the great rush with things. Why the need to transition to POS right away? If the coin isn't well distributed there's a risk of a 51% attack by a big holder having coins on minting. Is there even a distribution list/chart for the POW coins?

Because there are FPGA's accounting for about 60-70% of the net hash.  That is why.

FPGA x11 code: http://cryptography.gmu.edu/athena/index.php?id=source_codes

Okay but isn't that jumping from one security problem to another? Isn't anyone concerned about uneven distribution of staking wallets, considering a large number of coins will be bound up on exchanges?

Exchange wallets do not stake.  They disable stake.  This can be confirmed by bittrex-richie (bittrex) and tf2honeybadger (poloniex).  

That's what I mean. Coins on exchanges won't be staking thereby reducing the number of coins you would need to have 51% of minting coins. Am I wrong?

atcsecure would have to answer that one -- I'm not quite sure how it all works to be honest.

I do not want to answer for the dev but here is my take on it.

Let's say we end up at 5.6 million coins at the end of POW. (Using a low number as this is worse case scenario.) If 1/2 of the coins are on the exchanges that leaves 2.8 million in wallets for staking. If only 1/2 of the people keep there wallets unlocked and staking then that leaves 1.4 million coins staking. So a successful 51% would require 700,000 XC, about $500,000 US at current prices, which could happen but even if someone has that many I believe they would need to have knowledge and bad intentions to do damage. I doubt 1/2 of the coins will be on exchanges and I think as long as the coin is doing well it is likely more than 1/2 of them that are in wallets will be staking. Therefore not sure if it is something to be to concerned about at this time.

Please correct me if I am misunderstanding or have misrepresented anything.

I agree it's probably not likely but a double-spend exploit must be a big target for some people. I just don't get the rush to POS. Aren't there other ways to get around the big hash whales?

You don't get it because you are DRK bagholder....   People that believe in XC gets it so that it can't fork like DRK today....

Take that antagonism somewhere else, pal. I'm having a conversation with adults here.

[battbot]

http://omargpools.ca/xc/index.php?page=statistics&action=pool
http://xc.mine-coin.de/index.php?page=statistics&action=pool
http://xc.pool.mn/index.php?page=statistics
https://www.minep.it/pool/XC/

All these appear to be working

[rubberpool]

http://xc.pool.mn/index.php?page=statistics

http://xc.pool.mn running fine! Hop in! 

[Pajkho]

Which pool has all the hashrate?

[rubberpool]

Which pool has all the hashrate?

asic manufacturers seem to have all the hashrate atm

[Thrash]

Wow! POS is really finding a lot of the blocks at this point. 68 out of the last 100, 68%

http://cryptexplorer.com/chain/X11Coin?count=100&hi=20099

Only 901 blocks to go in POW phase.

[Thrash]

Interesting:

"proof-of-work" : 10017.68414767,
"proof-of-stake" : 0.00089909,

The more hash they throw at it the more POS blocks we find. Over 10,000 difficulty on POW. Price is to low.